Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | Apr. 30, 2024 | |
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 | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
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 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | MBWM | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,120,758 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Assets [Abstract] | ||
Cash and due from banks | $ 52,606 | $ 70,408 |
Interest-earning deposits | 184,625 | 60,125 |
Total cash and cash equivalents | 237,231 | 130,533 |
Securities available for sale | 609,153 | 617,092 |
Federal Home Loan Bank stock | 21,513 | 21,513 |
Mortgage loans held for sale | 14,393 | 18,607 |
Loans | 4,322,006 | 4,303,758 |
Allowance for credit losses | (51,638) | (49,914) |
Loans, net | 4,270,368 | 4,253,844 |
Premises and equipment, net | 50,835 | 50,928 |
Bank owned life insurance | 85,528 | 85,668 |
Goodwill | 49,473 | 49,473 |
Other Assets | 127,459 | 125,566 |
Total assets | 5,465,953 | 5,353,224 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Noninterest-bearing | 1,134,995 | 1,247,640 |
Interest-bearing | 2,872,815 | 2,653,278 |
Total deposits | 4,007,810 | 3,900,918 |
Securities sold under agreements to repurchase | 228,618 | 229,734 |
Federal Home Loan Bank advances | 447,083 | 467,910 |
Subordinated debentures | 49,815 | 49,644 |
Subordinated notes | 89,057 | 88,971 |
Accrued interest and other liabilities | 106,926 | 93,902 |
Total liabilities | 4,929,309 | 4,831,079 |
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; 16,122,503 shares issued and outstanding at March 31, 2024 and 16,125,662 shares issued and outstanding at December 31, 2023 | 296,065 | 295,106 |
Retained earnings | 293,554 | 277,526 |
Accumulated other comprehensive gain (loss) | (52,975) | (50,487) |
Total shareholders’ equity | 536,644 | 522,145 |
Total liabilities and shareholders’ equity | $ 5,465,953 | $ 5,353,224 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
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 outstanding (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 issued (in shares) | 16,122,503 | 16,125,662 |
Common stock, shares outstanding (in shares) | 16,122,503 | 16,125,662 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Interest income | ||
Loans, including fees | $ 71,270 | $ 57,154 |
Securities, taxable | 2,444 | 2,131 |
Securities, tax-exempt | 977 | 876 |
Interest-earning deposits | 2,033 | 324 |
Total interest income | 76,724 | 60,485 |
Interest expense | ||
Deposits | 22,224 | 7,907 |
Short-term borrowings | 1,654 | 459 |
Federal Home Loan Bank advances | 3,399 | 1,794 |
Subordinated debt and other borrowings | 2,086 | 1,941 |
Total interest expense | 29,363 | 12,101 |
Net interest income | 47,361 | 48,384 |
Provision for credit losses | 1,300 | 600 |
Net interest income after provision for credit losses | 46,061 | 47,784 |
Noninterest income: | ||
Mortgage banking income | 2,343 | 1,216 |
Interest rate swap fees | 1,339 | 1,037 |
Payroll services income | 896 | 746 |
Earnings on bank owned life insurance | 1,172 | 401 |
Other income | 1,466 | 515 |
Total noninterest income | 10,868 | 6,951 |
Noninterest expense | ||
Salaries and benefits | 18,237 | 16,682 |
Occupancy | 2,289 | 2,289 |
Furniture and equipment depreciation, rent and maintenance | 929 | 822 |
Data processing costs | 3,289 | 3,162 |
Charitable foundation contributions | 703 | 10 |
Other expense | 4,497 | 5,634 |
Total noninterest expense | 29,944 | 28,599 |
Income before federal income tax expense | 26,985 | 26,136 |
Federal income tax expense | 5,423 | 5,162 |
Net income | $ 21,562 | $ 20,974 |
Basic earnings per share (in dollars per share) | $ 1.34 | $ 1.31 |
Diluted earnings per share (in dollars per share) | $ 1.34 | $ 1.31 |
Average basic shares outstanding (in shares) | 16,118,858 | 15,996,138 |
Average diluted shares outstanding (in shares) | 16,118,858 | 15,996,138 |
Service Charges on Deposit and Sweep Accounts [Member] | ||
Noninterest income: | ||
Noninterest revenue | $ 1,531 | $ 976 |
Credit and Debit Card [Member] | ||
Noninterest income: | ||
Noninterest revenue | $ 2,121 | $ 2,060 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net income | $ 21,562 | $ 20,974 |
Other comprehensive income (loss): | ||
Unrealized holding gains (losses) on securities available for sale | (3,150) | 11,486 |
Tax effect of unrealized holding gains (losses) on securities available for sale | 662 | (2,412) |
Other comprehensive income (loss), net of tax | (2,488) | 9,074 |
Comprehensive income (loss) | $ 19,074 | $ 30,048 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at Dec. 31, 2022 | $ 0 | $ 290,436 | $ 216,313 | $ (65,341) | $ 441,408 |
Employee stock purchase plan | 10 | 10 | |||
Dividend reinvestment plan | 217 | 217 | |||
Stock-based compensation expense | 853 | 853 | |||
Cash dividends | (5,164) | (5,164) | |||
Net income | 20,974 | 20,974 | |||
Change in net unrealized holding gain (loss) on securities available for sale, net of tax effect | 9,074 | 9,074 | |||
Balances at Mar. 31, 2023 | 0 | 291,516 | 232,123 | (56,267) | 467,372 |
Balances at Dec. 31, 2023 | 0 | 295,106 | 277,526 | (50,487) | 522,145 |
Employee stock purchase plan | 11 | 11 | |||
Dividend reinvestment plan | 204 | 204 | |||
Stock grants to directors for retainer fees | 2 | 2 | |||
Stock-based compensation expense | 742 | 742 | |||
Cash dividends | (5,534) | (5,534) | |||
Net income | 21,562 | 21,562 | |||
Change in net unrealized holding gain (loss) on securities available for sale, net of tax effect | (2,488) | (2,488) | |||
Balances at Mar. 31, 2024 | $ 0 | $ 296,065 | $ 293,554 | $ (52,975) | $ 536,644 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Employee stock purchase plan (in shares) | 290 | 412 |
Dividend reinvestment plan (in shares) | 5,567 | 6,733 |
Stock grants to directors for retainer fees (in shares) | 69 | |
Cash dividends per common share (in dollars per share) | $ 0.35 | $ 0.32 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities | ||
Net income | $ 21,562 | $ 20,974 |
Adjustments to reconcile net income to net cash from operating activities | ||
Depreciation and amortization | 2,773 | 3,049 |
Provision for credit losses | 1,300 | 600 |
Stock-based compensation expense | 742 | 853 |
Stock grants to directors for retainer fee | 2 | 0 |
Proceeds from sales of mortgage loans held for sale | 65,603 | 25,645 |
Origination of mortgage loans held for sale | (59,297) | (24,951) |
Net gain from sales of mortgage loans held for sale | (2,092) | (950) |
Net gain from sales and valuation write-downs of foreclosed assets | (79) | 0 |
Net loss from sales and write-downs of fixed assets | 0 | 377 |
Earnings on bank owned life insurance | (1,172) | (401) |
Net (gain) loss on instruments designated at fair value and related derivatives | (83) | 180 |
Net change in: | ||
Accrued interest receivable | (1,875) | (1,947) |
Other assets | 1,849 | 131 |
Accrued interest payable and other liabilities | 11,004 | (5,495) |
Net cash from operating activities | 40,237 | 18,065 |
Cash flows from investing activities | ||
Loan originations and payments, net | (17,824) | (48,939) |
Purchases of securities available for sale | (591) | (7,392) |
Proceeds from maturities, calls and repayments of securities available for sale | 5,271 | 1,703 |
Proceeds from sales of foreclosed assets | 79 | 0 |
Proceeds from bank owned life insurance death benefits claim | 1,357 | 0 |
Net purchases of premises and equipment and lease activity | (1,461) | (2,508) |
Net cash for investing activities | (13,169) | (57,136) |
Cash flows from financing activities | ||
Net increase in time deposits | 55,606 | 87,115 |
Net increase (decrease) in all other deposits | 51,286 | (201,908) |
Net increase (decrease) in securities sold under agreements to repurchase | (1,116) | 33,113 |
Net increase in federal funds purchased | 0 | 17,207 |
Proceeds from Federal Home Loan Bank advances | 10,000 | 80,000 |
Payoffs of and paydowns on Federal Home Loan Bank advances | (30,827) | (10,353) |
Employee stock purchase plan | 11 | 10 |
Dividend reinvestment plan | 204 | 217 |
Payment of cash dividends to common shareholders | (5,534) | (5,164) |
Net cash from financing activities | 79,630 | 237 |
Net change in cash and cash equivalents | 106,698 | (38,834) |
Cash and cash equivalents at beginning of period | 130,533 | 96,772 |
Cash and cash equivalents at end of period | 237,231 | 57,938 |
Supplemental disclosures of cash flows information | ||
Interest | 28,268 | 11,838 |
Noncash financing and investing activities: | ||
Transfers from bank premises to other real estate owned | 0 | 600 |
Transfers from loans to foreclosed assets | $ 0 | $ 61 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation three March 31, 2024 10 303 not not March 31, 2024 not 10 December 31, 2023 We have five not Earnings Per Share Approximately 327,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three March 31, 2024 three March 31, 2023 not three March 31, 2023 Debt Securities first not not not Changes in the allowance are recorded as provisions for (or reversals of) credit losses. Losses are charged against the allowance when the collectability of an available for sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. At March 31, 2024 December 31, 2023 Interest income includes amortization of purchase premiums and accretion of discounts. Premiums on debt securities are amortized to the initial call date, if applicable, or to the maturity date, on the level-yield method. Discounts on debt securities are accreted to the maturity date on the level-yield method. Premiums and discounts on mortgage-backed securities are amortized or accreted based on anticipated prepayments on the level-yield method. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Federal Home Loan Bank of Indianapolis (“FHLBI”) stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Loans March 31, 2024 December 31, 2023 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 Accrued interest is included in other assets in the Consolidated Balance Sheets. All interest accrued but not Loans Held for Sale March 31, 2024 December 31, 2023 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, which includes a gain or loss on the interest rate commitment coverage position, and the carrying value of the related loan sold, which is reduced by the cost allocated to the servicing right. Market rate risk on interest rate commitments with borrowers prior to loan closing is mitigated through forward commitments referred to as to-be-announced mortgage-backed securities. These mortgage banking activities are not Allowance for Credit Losses ( “a llowance ” ) 3 The “remaining life methodology” is utilized for substantially all loan pools. This non-discounted cash flow approach projects an estimated future amortized cost basis based on current loan balance and repayment terms. Our historical loss rate is then applied to future loan balances at the instrument level based on remaining contractual life adjusted for amortization, prepayment and default to develop a baseline lifetime loss. The baseline lifetime loss is adjusted for changes in macroeconomic conditions over the reasonable and supportable forecast and reversion periods via a series of macroeconomic forecast inputs, such as gross domestic product, unemployment rates, interest rates, credit spreads, stock market volatility and property price indices, to quantify the impact of current and forecasted economic conditions on expected loan performance. Reasonable and supportable economic forecasts have to be incorporated in determining expected credit losses. The forecast period represents the time frame from the current period end through the point in time that we can reasonably forecast and support entity and environmental factors that are expected to impact the performance of our loan portfolio. Ideally, the economic forecast period would encompass the contractual terms of all loans; however, the ability to produce a forecast that is considered reasonable and supportable becomes more difficult or may not Subsequent to the end of the forecast period, we revert to historical loan data based on an ongoing evaluation of each economic forecast in relation to then current economic conditions as well as any developing loan loss activity and resulting historical data. We are not third During each reporting period, we also consider the need to adjust the historical loss rates as determined to reflect the extent to which we expect current conditions and reasonable and supportable economic forecasts to differ from the conditions that existed for the period over which the historical loss information was determined. These qualitative adjustments may Our qualitative factors include: o Changes in lending policies and procedures o Changes in the nature and volume of the loan portfolio and in the terms of loans o Changes in the experience, ability and depth of lending management and other relevant staff o Changes in the volume and severity of past due loans, nonaccrual loans and adversely classified loans o Changes in the quality of the loan review program o Changes in the value of underlying collateral dependent loans o Existence and effect of any concentrations of credit and any changes in such o Effect of other factors such as competition and legal and regulatory requirements o Local or regional conditions that depart from the conditions and forecasts for the entire country may January 1, 2022, We recorded a provision for credit losses of $1.3 million during the first three 2024 first Accrued interest receivable on loans totaling $17.4 million and $16.9 million as of March 31, 2024 December 31, 2023 not 90 may For individually analyzed loans which are deemed to be collateral dependent loans, we adopted the practical expedient to measure the allowance based on the fair value of collateral. The allowance is calculated on an individual loan basis based on the shortfall between the fair value of the loan’s collateral and the recorded principal balance. If the fair value of the collateral exceeds the recorded principal balance, no may may We are also required to consider expected credit losses associated with loan commitments over the contractual period in which we are exposed to credit risk on the underlying commitments unless the obligation is unconditionally cancellable by us. Any allowance for off-balance sheet credit exposures is reported as an other liability on our Consolidated Balance Sheets and is increased or decreased via other noninterest expense on our Consolidated Statement of Income. The calculation includes consideration of the likelihood that funding will occur and forecasted credit losses on commitments expected to be funded over their estimated lives. The allowance is calculated using the same aggregate reserve rates calculated for the funded portion of loans at the portfolio level applied to the amount of commitments expected to be funded. Mortgage Banking Activities March 31, 2024 December 31, 2023 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. 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 (loss). 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 no March 31, 2024 December 31, 2023 Goodwill third October 1 not October 1, October 1, 2023; not Revenue from Contracts with Customers 606, 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 We generally satisfy our performance obligations on contracts with customers as services are rendered, and the transaction prices are typically fixed and charged either on a periodic basis (generally monthly) or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 The following table depicts our sources of noninterest income presented in the Consolidated Statements of Income that are scoped within Topic 606: Three Months Three Months Ended Ended (Dollars in thousands) March 31, 2024 March 31, 2023 Service charges on deposit and sweep accounts $ 1,531 $ 976 Credit and debit card fees 2,121 2,060 Payroll processing 896 746 Customer service fees 198 220 Service Charges on Deposit and Sweep Accounts: Credit and Debit Card Fees: Payroll Processing Fees: Customer Service Fees: Standards Recently Adopted No. 2022 02, Troubled Debt Restructurings and Vintage Disclosures 310 40, December 15, 2022. ASU No. 2023 02, Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method January 1, 2023 |
Note 2 - Securities
Note 2 - Securities | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 2. SECURITIES The amortized cost and fair value of available for sale securities and the related pre-tax gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows: Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value March 31, 2024 U.S. Government agency debt obligations $ 438,662 $ 0 $ (52,953 ) $ 385,709 Mortgage-backed securities 34,059 10 (6,287 ) 27,782 Municipal general obligation bonds 172,279 1,244 (6,891 ) 166,632 Municipal revenue bonds 30,708 151 (2,329 ) 28,530 Other investments 500 0 0 500 $ 676,208 $ 1,405 $ (68,460 ) $ 609,153 December 31, 2023 U.S. Government agency debt obligations $ 442,496 $ 0 $ (52,000 ) $ 390,496 Mortgage-backed securities 35,168 20 (5,715 ) 29,473 Municipal general obligation bonds 172,126 1,924 (6,190 ) 167,860 Municipal revenue bonds 30,708 262 (2,207 ) 28,763 Other investments 500 0 0 500 $ 680,998 $ 2,206 $ (66,112 ) $ 617,092 Securities with unrealized losses at March 31, 2024 December 31, 2023 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss March 31, 2024 U.S. Government agency debt obligations $ 0 $ 0 $ 385,709 $ 52,953 $ 385,709 $ 52,953 Mortgage-backed securities 201 3 27,089 6,284 27,290 6,287 Municipal general obligation bonds 20,393 189 100,489 6,702 120,882 6,891 Municipal revenue bonds 1,141 10 21,061 2,319 22,202 2,329 Other investments 0 0 0 0 0 0 $ 21,735 $ 202 $ 534,348 $ 68,258 $ 556,083 $ 68,460 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss December 31, 2023 U.S. Government agency debt obligations $ 0 $ 0 $ 390,496 $ 52,000 $ 390,496 $ 52,000 Mortgage-backed securities 114 0 28,749 5,715 28,863 5,715 Municipal general obligation bonds 1,109 6 106,171 6,184 107,280 6,190 Municipal revenue bonds 1,506 8 20,602 2,199 22,108 2,207 Other investments 0 0 0 0 0 0 $ 2,729 $ 14 $ 546,018 $ 66,098 $ 548,747 $ 66,112 We evaluate securities in an unrealized loss position at least quarterly. Consideration is given to the financial condition 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, 2024 December 31, 2023 March 31, 2024 first not not The amortized cost and fair value of debt securities at March 31, 2024 may may not Amortized Fair (Dollars in thousands) Cost Value Due in 2024 $ 53,520 $ 52,568 Due in 2025 through 2029 329,740 301,553 Due in 2030 through 2034 227,431 196,189 Due in 2035 and beyond 30,958 30,561 Mortgage-backed securities 34,059 27,782 Other investments 500 500 Total available for sale securities $ 676,208 $ 609,153 No securities were sold during the first three 2024 2023 Securities issued by the State of Michigan and all its political subdivisions had a combined amortized cost of $203 million as of both March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 not 10% The carrying value of U.S. Government agency debt obligation securities that are pledged to secure repurchase agreements was $229 million and $230 million at March 31, 2024 December 31, 2023 |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. LOANS AND ALLOWANCE FOR CREDIT LOSSES Commercial loans are divided among five one two Our loan portfolio segments as of March 31, 2024 o Commercial Loans ■ Commercial and Industrial ■ Owner Occupied Commercial Real Estate ■ Non-Owner Occupied Commercial Real Estate ■ Multi-Family and Residential Rental ■ Vacant Land, Land Development and Residential Construction o Retail Loans ■ 1 4 ■ Other Consumer Loans During the year ended December 31, 2023, December 31, 2023. 1 4 December 31, 2023. second December 31, 2023. Our total loans at March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 2023 first 2024 Percent March 31, 2024 December 31, 2023 Increase (Dollars in thousands) Balance % Balance % (Decrease) Commercial: Commercial and industrial $ 1,222,637 28.3 % $ 1,254,586 29.2 % (2.5 )% Vacant land, land development, and residential construction 75,091 1.7 74,753 1.7 0.5 Real estate – owner occupied 719,338 16.6 717,667 16.7 0.2 Real estate – non-owner occupied 1,045,615 24.2 1,035,684 24.1 1.0 Real estate – multi-family and residential rental 366,961 8.5 332,609 7.7 10.3 Total commercial 3,429,642 79.3 3,415,299 79.4 0.4 Retail: 1-4 family mortgages 840,653 19.5 837,406 19.5 0.4 Other consumer loans 51,711 1.2 51,053 1.1 1.3 Total retail 892,364 20.7 888,459 20.6 0.4 Total loans $ 4,322,006 100.0 % $ 4,303,758 100.0 % 0.4 % An age analysis of past due loans is as follows as of March 31, 2024 Recorded Greater Balance 30 59 60 89 Than 89 > 89 Days Days Days Total Total Days and (Dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Accruing Commercial: Commercial and industrial $ 16 $ 0 $ 249 $ 265 $ 1,222,372 $ 1,222,637 $ 0 Vacant land, land development, and residential construction 0 0 0 0 75,091 75,091 0 Real estate – owner occupied 0 0 0 0 719,338 719,338 0 Real estate – non- owner occupied 0 0 0 0 1,045,615 1,045,615 0 Real estate – multi-family and residential rental 0 0 0 0 366,961 366,961 0 Total commercial 16 0 249 265 3,429,377 3,429,642 0 Retail: 1-4 family mortgages 508 71 165 744 839,909 840,653 0 Other consumer loans 37 0 27 64 51,647 51,711 0 Total retail 545 71 192 808 891,556 892,364 0 Total past due loans $ 561 $ 71 $ 441 $ 1,073 $ 4,320,933 $ 4,322,006 $ 0 An age analysis of past due loans is as follows as of December 31, 2023 Recorded Greater Balance 30 59 60 89 Than 89 > 89 Days Days Days Total Total Days and (Dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Accruing Commercial: Commercial and industrial $ 4 $ 0 $ 249 $ 253 $ 1,254,333 $ 1,254,586 $ 0 Vacant land, land development, and residential construction 0 0 0 0 74,753 74,753 0 Real estate – owner occupied 0 0 70 70 717,597 717,667 0 Real estate – non-owner occupied 0 0 0 0 1,035,684 1,035,684 0 Real estate – multi-family and residential rental 0 0 0 0 332,609 332,609 0 Total commercial 4 0 319 323 3,414,976 3,415,299 0 Retail: 1-4 family mortgages 934 145 38 1,117 836,289 837,406 0 Other consumer loans 97 0 0 97 50,956 51,053 0 Total retail 1,031 145 38 1,214 887,245 888,459 0 Total past due loans $ 1,035 $ 145 $ 357 $ 1,537 $ 4,302,221 $ 4,303,758 $ 0 Nonaccrual loans as of March 31, 2024 Recorded Principal Related (Dollars in thousands) Balance Allowance With no allowance recorded: Commercial: Commercial and industrial $ 16 $ 0 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 16 0 Retail: 1-4 family mortgages 2,431 0 Other consumer loans 27 0 Total retail 2,458 0 Total with no allowance recorded $ 2,474 $ 0 With an allowance recorded: Commercial: Commercial and industrial $ 2,652 $ 2,050 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 2,652 2,050 Retail: 1-4 family mortgages 805 221 Other consumer loans 108 108 Total retail 913 329 Total with an allowance recorded $ 3,565 $ 2,379 Total nonaccrual loans: Commercial $ 2,668 $ 2,050 Retail 3,371 329 Total nonaccrual loans $ 6,039 $ 2,379 Nonaccrual loans represent the entire balance of collateral dependent loans. As of March 31, 2024 December 31, 2023 three March 31, 2024 2023 Nonaccrual loans as of December 31, 2023 Recorded Principal Related (Dollars in thousands) Balance Allowance With no allowance recorded: Commercial: Commercial and industrial $ 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 70 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 70 0 Retail: 1-4 family mortgages 2,272 0 Other consumer loans 0 0 Total retail 2,272 0 Total with no allowance recorded $ 2,342 $ 0 With an allowance recorded: Commercial: Commercial and industrial $ 249 $ 1 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 249 1 Retail: 1-4 family mortgages 824 240 Other consumer loans 0 0 Total retail 824 240 Total with an allowance recorded $ 1,073 $ 241 Total nonaccrual loans: Commercial $ 319 $ 1 Retail 3,096 240 Total nonaccrual loans $ 3,415 $ 241 Credit Quality Indicators. ten 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 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. Retail loans that reach 90 The following table reflects amortized cost basis of loans and year-to-date loan charge-offs as of March 31, 2024 Revolving Grand (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Term Total Loans Total Commercial: Commercial and Industrial: Grades 1 – 4 $ 27,101 $ 96,301 $ 69,429 $ 82,590 $ 18,922 $ 12,501 $ 306,844 $ 392,847 $ 699,691 Grades 5 – 7 22,011 152,270 50,958 15,246 16,947 8,116 265,548 233,465 499,013 Grades 8 – 9 3,608 314 1,968 290 0 0 6,180 17,753 23,933 Total $ 52,720 $ 248,885 $ 122,355 $ 98,126 $ 35,869 $ 20,617 $ 578,572 $ 644,065 $ 1,222,637 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 6 $ 6 Vacant Land, Land Development and Residential Construction: Grades 1 – 4 $ 6,294 $ 19,799 $ 3,727 $ 604 $ 189 $ 270 $ 30,883 $ 0 $ 30,883 Grades 5 – 7 7,269 16,830 19,371 134 2 594 44,200 0 44,200 Grades 8 – 9 0 8 0 0 0 0 8 0 8 Total $ 13,563 $ 36,637 $ 23,098 $ 738 $ 191 $ 864 $ 75,091 $ 0 $ 75,091 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Owner Occupied: Grades 1 – 4 $ 25,025 $ 198,247 $ 108,314 $ 82,699 $ 45,264 $ 14,792 $ 474,341 $ 0 $ 474,341 Grades 5 – 7 18,703 96,197 60,108 26,866 22,119 8,604 232,597 11,972 244,569 Grades 8 – 9 0 0 391 0 37 0 428 0 428 Total $ 43,728 $ 294,444 $ 168,813 $ 109,565 $ 67,420 $ 23,396 $ 707,366 $ 11,972 $ 719,338 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Non-Owner Occupied: Grades 1 – 4 $ 22,924 $ 104,075 $ 84,362 $ 112,211 $ 100,079 $ 30,405 $ 454,056 $ 0 $ 454,056 Grades 5 – 7 83,233 220,686 89,221 79,662 87,033 20,946 580,781 0 580,781 Grades 8 – 9 0 10,778 0 0 0 0 10,778 0 10,778 Total $ 106,157 $ 335,539 $ 173,583 $ 191,873 $ 187,112 $ 51,351 $ 1,045,615 $ 0 $ 1,045,615 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Multi-Family and Residential Rental: Grades 1 – 4 $ 454 $ 41,659 $ 10,860 $ 65,700 $ 34,642 $ 8,054 $ 161,369 $ 0 $ 161,369 Grades 5 – 7 3,309 96,528 75,412 4,556 8,854 4,672 193,331 49 193,380 Grades 8 – 9 0 11,225 0 0 987 0 12,212 0 12,212 Total $ 3,763 $ 149,412 $ 86,272 $ 70,256 $ 44,483 $ 12,726 $ 366,912 $ 49 $ 366,961 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Total Commercial $ 219,931 $ 1,064,917 $ 574,121 $ 470,558 $ 335,075 $ 108,954 $ 2,773,556 $ 656,086 $ 3,429,642 Total Commercial year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 6 $ 6 Retail: 1-4 Family Mortgages: Performing $ 11,675 $ 138,657 $ 326,965 $ 225,658 $ 78,013 $ 56,449 $ 837,417 $ 0 $ 837,417 Nonperforming 0 101 1,660 268 0 1,207 3,236 0 3,236 Total $ 11,675 $ 138,758 $ 328,625 $ 225,926 $ 78,013 $ 57,656 $ 840,653 $ 0 $ 840,653 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Other Consumer Loans: Performing $ 1,653 $ 4,553 $ 2,237 $ 1,311 $ 522 $ 1,179 $ 11,455 $ 40,121 $ 51,576 Nonperforming 108 0 0 0 0 0 108 27 135 Total $ 1,761 $ 4,553 $ 2,237 $ 1,311 $ 522 $ 1,179 $ 11,563 $ 40,148 $ 51,711 Year-to-date gross write offs $ 0 $ 1 $ 0 $ 8 $ 0 $ 0 $ 9 $ 0 $ 9 Total Retail $ 13,436 $ 143,311 $ 330,862 $ 227,237 $ 78,535 $ 58,835 $ 852,216 $ 40,148 $ 892,364 Total Retail year-to-date gross write offs $ 0 $ 1 $ 0 $ 8 $ 0 $ 0 $ 9 $ 0 $ 9 Total $ 233,367 $ 1,208,228 $ 904,983 $ 697,795 $ 413,610 $ 167,789 $ 3,625,772 $ 696,234 $ 4,322,006 Total year-to-date gross write offs $ 0 $ 1 $ 0 $ 8 $ 0 $ 0 $ 9 $ 6 $ 15 There were lines of credit with principal balances of $2.8 million that were converted to term loans during the first three 2024 The following table reflects amortized cost basis of loans as of December 31, 2023 three March 31, 2023 Revolving Grand (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Term Total Loans Total Commercial: Commercial and Industrial: Grades 1 – 4 $ 103,531 $ 79,883 $ 90,107 $ 20,577 $ 5,978 $ 9,160 $ 309,236 $ 414,920 $ 724,156 Grades 5 – 7 174,668 57,979 20,075 18,361 7,450 119 278,652 227,155 505,807 Grades 8 – 9 3,671 2,122 277 0 0 0 6,070 18,553 24,623 Total $ 281,870 $ 139,984 $ 110,459 $ 38,938 $ 13,428 $ 9,279 $ 593,958 $ 660,628 $ 1,254,586 Year-to-date gross write offs $ 0 $ 36 $ 0 $ 0 $ 0 $ 0 $ 36 $ 0 $ 36 Vacant Land, Land Development and Residential Construction: Grades 1 – 4 $ 24,875 $ 6,570 $ 1,108 $ 2,110 $ 0 $ 281 $ 34,944 $ 0 $ 34,944 Grades 5 – 7 17,799 21,244 138 2 40 496 39,719 0 39,719 Grades 8 – 9 9 0 0 0 0 81 90 0 90 Total $ 42,683 $ 27,814 $ 1,246 $ 2,112 $ 40 $ 858 $ 74,753 $ 0 $ 74,753 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Owner Occupied: Grades 1 – 4 $ 205,379 $ 110,130 $ 85,982 $ 47,630 $ 14,362 $ 2,908 $ 466,391 $ 1,948 $ 468,339 Grades 5 – 7 111,197 63,271 27,729 27,029 9,419 439 239,084 9,718 248,802 Grades 8 – 9 0 417 0 38 0 71 526 0 526 Total $ 316,576 $ 173,818 $ 113,711 $ 74,697 $ 23,781 $ 3,418 $ 706,001 $ 11,666 $ 717,667 Year-to-date gross write offs $ 0 $ 14 $ 0 $ 0 $ 0 $ 0 $ 14 $ 0 $ 14 Real Estate – Non-Owner Occupied: Grades 1 – 4 $ 109,125 $ 84,912 $ 113,846 $ 102,279 $ 27,664 $ 13,193 $ 451,019 $ 0 $ 451,019 Grades 5 – 7 233,471 118,464 109,238 88,315 6,148 18,135 573,771 0 573,771 Grades 8 – 9 10,894 0 0 0 0 0 10,894 0 10,894 Total $ 353,490 $ 203,376 $ 223,084 $ 190,594 $ 33,812 $ 31,328 $ 1,035,684 $ 0 $ 1,035,684 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Multi-Family and Residential Rental: Grades 1 – 4 $ 36,038 $ 28,512 $ 64,244 $ 35,129 $ 4,883 $ 3,649 $ 172,455 $ 0 $ 172,455 Grades 5 – 7 72,916 55,964 4,816 9,372 2,699 2,136 147,903 0 147,903 Grades 8 – 9 11,250 0 0 1,001 0 0 12,251 0 12,251 Total $ 120,204 $ 84,476 $ 69,060 $ 45,502 $ 7,582 $ 5,785 $ 332,609 $ 0 $ 332,609 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Total Commercial $ 1,114,823 $ 629,468 $ 517,560 $ 351,843 $ 78,643 $ 50,668 $ 2,743,005 $ 672,294 $ 3,415,299 Total Commercial year-to-date gross write offs $ 0 $ 50 $ 0 $ 0 $ 0 $ 0 $ 50 $ 0 $ 50 Retail: 1-4 Family Mortgages: Performing $ 133,823 $ 332,098 $ 231,842 $ 82,002 $ 10,515 $ 44,003 $ 834,283 $ 27 $ 834,310 Nonperforming 108 1,728 305 0 10 945 3,096 0 3,096 Total $ 133,931 $ 333,826 $ 232,147 $ 82,002 $ 10,525 $ 44,948 $ 837,379 $ 27 $ 837,406 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 42 $ 42 $ 0 $ 42 Other Consumer Loans: Performing $ 5,138 $ 2,569 $ 1,664 $ 608 $ 651 $ 716 $ 11,346 $ 39,707 $ 51,053 Nonperforming 0 0 0 0 0 0 0 0 0 Total $ 5,138 $ 2,569 $ 1,664 $ 608 $ 651 $ 716 $ 11,346 $ 39,707 $ 51,053 Year-to-date gross write offs $ 0 $ 3 $ 0 $ 0 $ 0 $ 1 $ 4 $ 10 $ 14 Total Retail $ 139,069 $ 336,395 $ 233,811 $ 82,610 $ 11,176 $ 45,664 $ 848,725 $ 39,734 $ 888,459 Total Retail year-to-date gross write offs $ 0 $ 3 $ 0 $ 0 $ 0 $ 43 $ 46 $ 10 $ 56 Total $ 1,253,892 $ 965,863 $ 751,371 $ 434,453 $ 89,819 $ 96,332 $ 3,591,730 $ 712,028 $ 4,303,758 Total year-to-date gross write offs $ 0 $ 53 $ 0 $ 0 $ 0 $ 43 $ 96 $ 10 $ 106 There were lines of credit with principal balances of $6.4 million as of December 31, 2022 2023. We use a migration to loss methodology to determine historical loss rates for commercial loans given the comprehensive loan grading process employed by our bank for over two January 1, 2011 March 31, 2024 December 31, 2023 Our historical loss rate is then applied to future loan balances at the instrument level based on remaining contractual life adjusted for amortization, prepayment and default to develop a baseline lifetime loss. Our prepayment speed assumptions are developed at the loan segment level based upon the consideration of all relevant data which we believe could impact anticipated customer behavior, including changes in interest rates, economic conditions, and underlying property valuations. For the commercial portfolio segments, we assumed a 2.0% prepayment speed as of both March 31, 2024 December 31, 2023 no 1 4 March 31, 2024 December 31, 2023 may March 31, 2024 December 31, 2023 one six March 31, 2024 December 31, 2023 Individual loans exhibiting unique risk characteristics which differentiated the loans from other loans within the loan segments and were evaluated for expected credit losses on an individual basis totaled $7.9 million and $5.4 million as of March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Activity in the allowance for credit losses during the three March 31, 2024 Commercial vacant land, Commercial land development Commercial Commercial real estate – Commercial and real estate – real estate – multi-family Other (Dollars in and residential owner non-owner and 1-4 family consumer thousands) industrial construction occupied occupied residential rental mortgages loans Unallocated Total Balance at 12-31-23 $ 7,441 $ 384 $ 7,186 $ 9,852 $ 3,184 $ 18,986 $ 2,881 $ 0 $ 49,914 Provision for credit losses 1,466 2 (151 ) 289 232 (476 ) (77 ) 15 1,300 Charge-offs (6 ) 0 0 0 0 0 (9 ) 0 (15 ) Recoveries 277 1 57 0 4 70 30 0 439 Ending balance $ 9,178 $ 387 $ 7,092 $ 10,141 $ 3,420 $ 18,580 $ 2,825 $ 15 $ 51,638 Activity in the allowance for credit losses during the three March 31, 2023 Commercial vacant land, Commercial land development Commercial Commercial real estate – Commercial and real estate – real estate – multi-family Other (Dollars in and residential owner non-owner and 1-4 family consumer thousands) industrial construction occupied occupied residential rental mortgages loans Unallocated Total Balance at 12-31-22 $ 10,203 $ 490 $ 5,914 $ 9,242 $ 2,191 $ 14,027 $ 160 $ 19 $ 42,246 Credit risk reclassifications 90 0 0 0 0 (697 ) 607 0 0 Balance after reclassifications 10,293 490 5,914 9,242 2,191 13,330 767 19 42,246 Provision for credit losses (757 ) (41 ) (28 ) (115 ) 313 1,168 3 57 600 Charge-offs (36 ) 0 (14 ) 0 0 (42 ) (14 ) 0 (106 ) Recoveries 21 1 48 0 7 41 19 0 137 Ending balance $ 9,521 $ 450 $ 5,920 $ 9,127 $ 2,511 $ 14,497 $ 775 $ 76 $ 42,877 The following table presents the period-end amortized cost basis of modifications to borrowers experiencing financial difficulty by type of modification made during the three March 31, 2024 Interest Rate Principal (Dollars in thousands) Reduction Term Extension Forgiveness Commercial: Commercial and industrial $ 0 $ 500 $ 0 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 $ 0 $ 500 $ 0 Retail: 1-4 family mortgages 0 0 0 Other consumer loans 0 0 0 Total retail $ 0 $ 0 $ 0 Total loans $ 0 $ 500 $ 0 Loans listed under Term Extension were generally granted a series of short-term maturity extensions as part of the workout process and associated forbearance agreements. The following table presents the period-end amortized cost basis of loans that have been modified in the past twelve 30 – 89 Days 90 + Days (Dollars in thousands) Current Past Due Past Due Total Commercial: Commercial and industrial $ 18,506 $ 0 $ 0 $ 18,506 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 0 0 0 0 Real estate – non-owner occupied 10,778 0 0 10,778 Real estate – multi-family and residential rental 0 0 0 0 Total commercial $ 29,284 $ 0 $ 0 $ 29,284 Retail: 1-4 family mortgages 0 0 0 0 Other consumer loans 0 0 0 0 Total retail $ 0 $ 0 $ 0 $ 0 Total loans $ 29,284 $ 0 $ 0 $ 29,284 There were no first three 2023. |
Note 4 - Premises and Equipment
Note 4 - Premises and Equipment, Net - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Assets [Abstract] | ||
Other Assets | $ 127,459 | $ 125,566 |
Liabilities [Abstract] | ||
Accrued Liabilities | $ 106,926 | $ 93,902 |
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, (Dollars in thousands) 2024 2023 Land and improvements $ 12,782 $ 12,782 Buildings 57,881 56,778 Furniture and equipment 25,428 25,157 96,091 94,717 Less: accumulated depreciation 45,256 43,789 Premises and equipment, net $ 50,835 $ 50,928 Depreciation expense totaled $1.6 million and $1.5 million during the first 2024 2023 We enter into facility leases in the normal course of business. As of March 31, 2024 ten April, 2024 May, 2048, March 31, 2024 three five not not Leases are classified as either operating or finance leases at the lease commencement date, with all of our current leases determined to be operating leases. Lease expense for operating leases is recognized on a straight-line basis over the lease term. Right-of-use assets represent our right to use an underlying asset for the lease term, while lease liabilities represent our obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized at the lease commencement date at the estimated present value of lease payments over the lease term. We use our incremental borrowing rate, on a collateralized basis, at lease commencement to calculate the present value of lease payments. The weighted average discount rate for leases was 6.5% as of March 31, 2024 The right-of-use assets, included in premises and equipment, net other liabilities March 31, 2024 December 31, 2023 not twelve first three 2024 first three 2023. Future lease payments were as follows as of March 31, 2024 (Dollars in thousands) 2024 $ 920 2025 1,010 2026 950 2027 878 2028 697 Thereafter 1,519 Total undiscounted lease payments 5,974 Less effect of discounting (1,298 ) Present value of future lease payments (lease liability) $ 4,676 |
Note 5 - Deposits
Note 5 - Deposits | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 5. DEPOSITS Our total deposits at March 31, 2024 December 31, 2023. March 31, 2024 December 31, 2023 2023 first 2024, Percent March 31, 2024 December 31, 2023 Increase (Dollars in thousands) Balance % Balance % (Decrease) Noninterest-bearing checking $ 1,134,995 28.3 % $ 1,247,640 32.1 % (9.0 )% Interest-bearing checking 622,287 15.5 635,790 16.3 (2.1 ) Money market 1,137,877 28.4 957,434 24.5 18.8 Savings 259,556 6.5 262,566 6.7 (1.1 ) Time, under $100,000 187,249 4.7 175,741 4.5 6.5 Time, $100,000 and over 492,734 12.3 453,366 11.6 8.7 Total local deposits 3,834,698 95.7 3,732,537 95.7 2.7 Out-of-area time, $100,000 and over 173,112 4.3 168,381 4.3 2.8 Total deposits $ 4,007,810 100.0 % $ 3,900,918 100.0 % 2.7 % |
Note 6 - Securities Sold Under
Note 6 - Securities Sold Under Agreements to Repurchase | 3 Months Ended |
Mar. 31, 2024 | |
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 is as follows: Three Months Ended Twelve Months Ended (Dollars in thousands) March 31, 2024 December 31, 2023 Outstanding balance at end of period $ 228,618 $ 229,734 Average interest rate at end of period 3.30 % 3.17 % Average daily balance during the period $ 216,674 $ 204,334 Average interest rate during the period 3.06 % 1.33 % Maximum daily balance during the period $ 247,056 $ 269,324 Repurchase agreements have maturities of one |
Note 7 - Federal Home Loan Bank
Note 7 - Federal Home Loan Bank of Indianapolis Advances | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | 7. FEDERAL HOME LOAN BANK OF INDIANAPOLIS ADVANCES FHLBI bullet advances totaled $420 million at March 31, 2024 April 2024 January 2029 December 31, 2023 January 2024 December 2028 Maturities of FHLBI bullet advances as of March 31, 2024 (Dollars in thousands) 2024 $ 60,000 2025 80,000 2026 80,000 2027 100,000 2028 90,000 Thereafter 10,000 FHLBI amortizing advances totaled $27.1 million as of March 31, 2024 2042 December 31, 2023 2042 Scheduled principal payments on FHLBI amortizing advances as of March 31, 2024 (Dollars in thousands) 2024 $ 0 2025 826 2026 862 2027 899 2028 938 Thereafter 23,558 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, 2024 |
Note 8 - Commitments and Off-ba
Note 8 - Commitments and Off-balance Sheet Risk | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Commitments Contingencies and Guarantees [Text Block] | 8. COMMITMENTS AND OFF-BALANCE SHEET RISK We are a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of our 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 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. We use the same credit policies in making commitments and conditional obligations as we do for on-balance sheet instruments. Collateral, such as accounts receivable, securities, inventory, and property and equipment, is generally obtained based on management’s credit assessment of the borrower. We are required to consider expected credit losses associated with loan commitments over the contractual period in which we are exposed to credit risk on the underlying commitments unless the obligation is unconditionally cancellable by us. Any allowance for off-balance sheet credit exposures is reported as an other liability on our Consolidated Balance Sheet and is increased or decreased via other noninterest expense on our Consolidated Statement of Income. The calculation includes consideration of the likelihood that funding will occur and forecasted credit losses on commitments expected to be funded over their estimated lives. The allowance is calculated using the same aggregate reserve rates calculated for the funded portion of loans at the portfolio level applied to the amount of commitments expected to be funded. For commercial lines of credit, retail lines of credit and credit card average outstanding balances, we determined allowance requirements by calculating the difference between the average percent outstanding of the funded commitments over the past several years to actual percent outstanding at the end of the period and applying the respective expected loss allocation factors to the difference as this difference represents the average of unfunded commitments we expect to eventually be drawn upon. For commitments to make loans, we determine an allowance by applying the expected loss allocation factor to the amount expected to fund. The calculated allowance aggregated $0.8 million and $1.3 million as of March 31, 2024 December 31, 2023 not one At March 31, 2024 December 31, 2023 A summary of the contractual amounts of our financial instruments with off-balance sheet risk at March 31, 2024 December 31, 2023 March 31, December 31, (Dollars in thousands) 2024 2023 Commercial unused lines of credit $ 1,562,294 $ 1,557,429 Unused lines of credit secured by 1–4 family residential properties 74,824 74,120 Credit card unused lines of credit 150,098 142,096 Other consumer unused lines of credit 40,140 50,063 Commitments to make loans 234,946 270,403 Standby letters of credit 19,540 19,393 $ 2,081,842 $ 2,113,504 |
Note 9 - Derivatives and Hedgin
Note 9 - Derivatives and Hedging Activities | 3 Months Ended |
Mar. 31, 2024 | |
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 As the interest rate swaps associated with this program do not The fair values of derivative instruments as of March 31, 2024 Balance Sheet (Dollars in thousands) Notional Amount Location Fair Value Derivative Assets Interest rate swaps $ 766,564 Other Assets $ 29,661 Derivative Liabilities Interest rate swaps 764,537 Other Liabilities 30,036 The effect of interest rate swaps that are not first three 2024 not March 31, 2024 Gross Amounts Not Offset on the Consolidated Balance Sheet (Dollars in thousands) Net Amounts Recognized Financial Instruments Cash Collateral Received or Posted Net Amount Derivative Assets Interest rate swaps $ 29,661 $ 2,303 $ 22,770 $ 4,588 Derivative Liabilities Interest rate swaps 30,036 2,303 2,250 25,483 The fair values of derivative instruments as of December 31, 2023 Balance Sheet (Dollars in thousands) Notional Amount Location Fair Value Derivative Assets Interest rate swaps $ 676,526 Other Assets $ 27,505 Derivative Liabilities Interest rate swaps 674,499 Other Liabilities 27,964 The effect of interest rate swaps that are not December 31, 2023 December 31, 2023 Gross Amounts Not Offset on the Consolidated Balance Sheet (Dollars in thousands) Net Amounts Recognized Financial Instruments Cash Collateral Received or Posted Net Amount Derivative Assets Interest rate swaps $ 27,505 $ 5,175 $ 14,010 $ 8,320 Derivative Liabilities Interest rate swaps 27,964 5,175 3,120 19,669 |
Note 10 - Fair Values of Financ
Note 10 - Fair Values of Financial Instruments | 3 Months Ended |
Mar. 31, 2024 | |
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, 2024 December 31, 2023 Level in March 31, 2024 December 31, 2023 Fair Value Carrying Fair Carrying Fair (Dollars in thousands) Hierarchy Values Values Values Values Financial assets: Cash and cash equivalents Level 1 $ 237,231 $ 237,231 $ 130,533 $ 130,533 Securities available for sale (1) 609,153 609,153 617,092 617,092 FHLBI stock (2) 21,513 21,513 21,513 21,513 Loans, net Level 3 4,270,368 4,243,647 4,253,844 4,191,644 Mortgage loans held for sale Level 2 14,393 14,603 18,607 19,027 Accrued interest receivable Level 2 21,681 21,681 19,806 19,806 Interest rate swaps Level 2 29,661 29,661 27,505 27,505 Financial liabilities: Deposits Level 2 4,007,810 3,900,366 3,900,918 3,814,778 Securities sold under agreements to repurchase Level 2 228,618 228,618 229,734 229,734 FHLBI advances Level 2 447,083 430,397 467,910 454,857 Subordinated debentures Level 2 49,815 49,824 49,644 49,653 Subordinated notes Level 2 89,057 78,131 88,971 77,218 Accrued interest payable Level 2 10,107 10,107 9,012 9,012 Interest rate swaps Level 2 30,036 30,036 27,964 27,964 ( 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, 2024 | |
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, 2024 December 31, 2023 1 Derivatives Mortgage loans held for sale March 31, 2024 December 31, 2023 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, 2024 Quoted Prices in Active Markets Significant for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government agency debt obligations $ 385,709 $ 0 $ 385,709 $ 0 Mortgage-backed securities 27,782 0 27,782 0 Municipal general obligation bonds 166,632 0 166,126 506 Municipal revenue bonds 28,530 0 28,530 0 Other investments 500 0 500 0 Interest rate swaps 29,661 0 29,661 0 Total assets $ 638,814 $ 0 $ 638,308 $ 506 Interest rate swaps 30,036 0 30,036 0 Total liabilities $ 30,036 $ 0 $ 30,036 $ 0 There were no 3 first three 2024 The balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 Quoted Prices in Active Markets Significant for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government agency debt obligations $ 390,496 $ 0 $ 390,496 $ 0 Mortgage-backed securities 29,473 0 29,473 0 Municipal general obligation bonds 167,860 0 167,347 513 Municipal revenue bonds 28,763 0 28,763 0 Other investments 500 0 500 0 Interest rate swaps 27,505 0 27,505 0 Total assets $ 644,597 $ 0 $ 644,084 $ 513 Interest rate swaps 27,964 0 27,964 0 Total liabilities $ 27,964 $ 0 $ 27,964 $ 0 There were no 3 2023 3 2023 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, 2024 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) Collateral dependent loans $ 1,573 $ 0 $ 0 $ 1,573 Foreclosed assets 200 0 0 200 Total $ 1,773 $ 0 $ 0 $ 1,773 The balances of assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2023 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) Collateral dependent loans $ 1,434 $ 0 $ 0 $ 1,434 Foreclosed assets 200 0 0 200 Total $ 1,634 $ 0 $ 0 $ 1,634 The carrying values are based on the estimated value of the property or other assets. Fair value estimates of collateral on nonperforming 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, 2024 | |
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 the financial statements. The prompt corrective action regulations provide five not not no may may March 31, 2024 December 31, 2023 no March 31, 2024 Our actual capital levels 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 (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio March 31, 2024 Total capital (to risk weighted assets) Consolidated $ 729,410 14.1 % $ 415,299 8.0 % $ NA NA% Bank 712,688 13.8 413,264 8.0 516,580 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 587,888 11.3 311,474 6.0 NA NA Bank 660,223 12.8 309,948 6.0 413,264 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 540,147 10.4 233,606 4.5 NA NA Bank 660,223 12.8 232,461 4.5 335,777 6.5 Tier 1 capital (to average assets) Consolidated 587,888 10.9 216,108 4.0 NA NA Bank 660,223 12.3 215,092 4.0 268,865 5.0 December 31, 2023 Total capital (to risk weighted assets) Consolidated $ 710,905 13.7 % $ 415,841 8.0 % $ NA NA% Bank 694,431 13.4 414,019 8.0 517,524 10.0 Tier 1 capital (to risk weighted assets) Consolidated 570,730 11.0 311,881 6.0 NA NA Bank 643,227 12.4 310,514 6.0 414,019 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 523,160 10.1 233,911 4.5 NA NA Bank 643,227 12.4 232,886 4.5 336,391 6.5 Tier 1 capital (to average assets) Consolidated 570,730 10.8 210,527 4.0 NA NA Bank 643,227 12.2 210,427 4.0 263,034 5.0 Our consolidated capital levels as of March 31, 2024 December 31, 2023 may 1 not 1 not May 19, 2010, December 31, 2009 March 31, 2024 December 31, 2023 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, 2024 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 11, 2024, March 13, 2024 March 1, 2024. As of March 31, 2024 May 2021. first three 2024 may |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. SUBSEQUENT EVENTS On April 11, 2024 June 19, 2024 June 7, 2024 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. Not |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation three March 31, 2024 10 303 not not March 31, 2024 not 10 December 31, 2023 We have five not |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Approximately 327,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three March 31, 2024 three March 31, 2023 not three March 31, 2023 |
Marketable Securities, Policy [Policy Text Block] | Debt Securities first not not not Changes in the allowance are recorded as provisions for (or reversals of) credit losses. Losses are charged against the allowance when the collectability of an available for sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. At March 31, 2024 December 31, 2023 Interest income includes amortization of purchase premiums and accretion of discounts. Premiums on debt securities are amortized to the initial call date, if applicable, or to the maturity date, on the level-yield method. Discounts on debt securities are accreted to the maturity date on the level-yield method. Premiums and discounts on mortgage-backed securities are amortized or accreted based on anticipated prepayments on the level-yield method. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Federal Home Loan Bank of Indianapolis (“FHLBI”) stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. |
Financing Receivable, Held-for-Investment [Policy Text Block] | Loans March 31, 2024 December 31, 2023 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 Accrued interest is included in other assets in the Consolidated Balance Sheets. All interest accrued but not |
Financing Receivable, Held-for-Sale [Policy Text Block] | Loans Held for Sale March 31, 2024 December 31, 2023 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, which includes a gain or loss on the interest rate commitment coverage position, and the carrying value of the related loan sold, which is reduced by the cost allocated to the servicing right. Market rate risk on interest rate commitments with borrowers prior to loan closing is mitigated through forward commitments referred to as to-be-announced mortgage-backed securities. These mortgage banking activities are not |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Credit Losses ( “a llowance ” ) 3 The “remaining life methodology” is utilized for substantially all loan pools. This non-discounted cash flow approach projects an estimated future amortized cost basis based on current loan balance and repayment terms. Our historical loss rate is then applied to future loan balances at the instrument level based on remaining contractual life adjusted for amortization, prepayment and default to develop a baseline lifetime loss. The baseline lifetime loss is adjusted for changes in macroeconomic conditions over the reasonable and supportable forecast and reversion periods via a series of macroeconomic forecast inputs, such as gross domestic product, unemployment rates, interest rates, credit spreads, stock market volatility and property price indices, to quantify the impact of current and forecasted economic conditions on expected loan performance. Reasonable and supportable economic forecasts have to be incorporated in determining expected credit losses. The forecast period represents the time frame from the current period end through the point in time that we can reasonably forecast and support entity and environmental factors that are expected to impact the performance of our loan portfolio. Ideally, the economic forecast period would encompass the contractual terms of all loans; however, the ability to produce a forecast that is considered reasonable and supportable becomes more difficult or may not Subsequent to the end of the forecast period, we revert to historical loan data based on an ongoing evaluation of each economic forecast in relation to then current economic conditions as well as any developing loan loss activity and resulting historical data. We are not third During each reporting period, we also consider the need to adjust the historical loss rates as determined to reflect the extent to which we expect current conditions and reasonable and supportable economic forecasts to differ from the conditions that existed for the period over which the historical loss information was determined. These qualitative adjustments may Our qualitative factors include: o Changes in lending policies and procedures o Changes in the nature and volume of the loan portfolio and in the terms of loans o Changes in the experience, ability and depth of lending management and other relevant staff o Changes in the volume and severity of past due loans, nonaccrual loans and adversely classified loans o Changes in the quality of the loan review program o Changes in the value of underlying collateral dependent loans o Existence and effect of any concentrations of credit and any changes in such o Effect of other factors such as competition and legal and regulatory requirements o Local or regional conditions that depart from the conditions and forecasts for the entire country may January 1, 2022, We recorded a provision for credit losses of $1.3 million during the first three 2024 first Accrued interest receivable on loans totaling $17.4 million and $16.9 million as of March 31, 2024 December 31, 2023 not 90 may For individually analyzed loans which are deemed to be collateral dependent loans, we adopted the practical expedient to measure the allowance based on the fair value of collateral. The allowance is calculated on an individual loan basis based on the shortfall between the fair value of the loan’s collateral and the recorded principal balance. If the fair value of the collateral exceeds the recorded principal balance, no may may We are also required to consider expected credit losses associated with loan commitments over the contractual period in which we are exposed to credit risk on the underlying commitments unless the obligation is unconditionally cancellable by us. Any allowance for off-balance sheet credit exposures is reported as an other liability on our Consolidated Balance Sheets and is increased or decreased via other noninterest expense on our Consolidated Statement of Income. The calculation includes consideration of the likelihood that funding will occur and forecasted credit losses on commitments expected to be funded over their estimated lives. The allowance is calculated using the same aggregate reserve rates calculated for the funded portion of loans at the portfolio level applied to the amount of commitments expected to be funded. |
Mortgage Banking Activity [Policy Text Block] | Mortgage Banking Activities March 31, 2024 December 31, 2023 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. |
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 (loss). 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 no March 31, 2024 December 31, 2023 |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill third October 1 not October 1, October 1, 2023; not |
Revenue from Contract with Customer [Policy Text Block] | Revenue from Contracts with Customers 606, 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 We generally satisfy our performance obligations on contracts with customers as services are rendered, and the transaction prices are typically fixed and charged either on a periodic basis (generally monthly) or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 The following table depicts our sources of noninterest income presented in the Consolidated Statements of Income that are scoped within Topic 606: Three Months Three Months Ended Ended (Dollars in thousands) March 31, 2024 March 31, 2023 Service charges on deposit and sweep accounts $ 1,531 $ 976 Credit and debit card fees 2,121 2,060 Payroll processing 896 746 Customer service fees 198 220 Service Charges on Deposit and Sweep Accounts: Credit and Debit Card Fees: Payroll Processing Fees: Customer Service Fees: |
New Accounting Pronouncements, Policy [Policy Text Block] | Standards Recently Adopted No. 2022 02, Troubled Debt Restructurings and Vintage Disclosures 310 40, December 15, 2022. ASU No. 2023 02, Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method January 1, 2023 |
Note 1 - Significant Accounti_2
Note 1 - Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Revenue from External Customers by Products and Services [Table Text Block] | Three Months Three Months Ended Ended (Dollars in thousands) March 31, 2024 March 31, 2023 Service charges on deposit and sweep accounts $ 1,531 $ 976 Credit and debit card fees 2,121 2,060 Payroll processing 896 746 Customer service fees 198 220 |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Debt Securities, Available-for-Sale [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value March 31, 2024 U.S. Government agency debt obligations $ 438,662 $ 0 $ (52,953 ) $ 385,709 Mortgage-backed securities 34,059 10 (6,287 ) 27,782 Municipal general obligation bonds 172,279 1,244 (6,891 ) 166,632 Municipal revenue bonds 30,708 151 (2,329 ) 28,530 Other investments 500 0 0 500 $ 676,208 $ 1,405 $ (68,460 ) $ 609,153 December 31, 2023 U.S. Government agency debt obligations $ 442,496 $ 0 $ (52,000 ) $ 390,496 Mortgage-backed securities 35,168 20 (5,715 ) 29,473 Municipal general obligation bonds 172,126 1,924 (6,190 ) 167,860 Municipal revenue bonds 30,708 262 (2,207 ) 28,763 Other investments 500 0 0 500 $ 680,998 $ 2,206 $ (66,112 ) $ 617,092 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss March 31, 2024 U.S. Government agency debt obligations $ 0 $ 0 $ 385,709 $ 52,953 $ 385,709 $ 52,953 Mortgage-backed securities 201 3 27,089 6,284 27,290 6,287 Municipal general obligation bonds 20,393 189 100,489 6,702 120,882 6,891 Municipal revenue bonds 1,141 10 21,061 2,319 22,202 2,329 Other investments 0 0 0 0 0 0 $ 21,735 $ 202 $ 534,348 $ 68,258 $ 556,083 $ 68,460 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss December 31, 2023 U.S. Government agency debt obligations $ 0 $ 0 $ 390,496 $ 52,000 $ 390,496 $ 52,000 Mortgage-backed securities 114 0 28,749 5,715 28,863 5,715 Municipal general obligation bonds 1,109 6 106,171 6,184 107,280 6,190 Municipal revenue bonds 1,506 8 20,602 2,199 22,108 2,207 Other investments 0 0 0 0 0 0 $ 2,729 $ 14 $ 546,018 $ 66,098 $ 548,747 $ 66,112 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair (Dollars in thousands) Cost Value Due in 2024 $ 53,520 $ 52,568 Due in 2025 through 2029 329,740 301,553 Due in 2030 through 2034 227,431 196,189 Due in 2035 and beyond 30,958 30,561 Mortgage-backed securities 34,059 27,782 Other investments 500 500 Total available for sale securities $ 676,208 $ 609,153 |
Note 3 - Loans and Allowance _2
Note 3 - Loans and Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Percent March 31, 2024 December 31, 2023 Increase (Dollars in thousands) Balance % Balance % (Decrease) Commercial: Commercial and industrial $ 1,222,637 28.3 % $ 1,254,586 29.2 % (2.5 )% Vacant land, land development, and residential construction 75,091 1.7 74,753 1.7 0.5 Real estate – owner occupied 719,338 16.6 717,667 16.7 0.2 Real estate – non-owner occupied 1,045,615 24.2 1,035,684 24.1 1.0 Real estate – multi-family and residential rental 366,961 8.5 332,609 7.7 10.3 Total commercial 3,429,642 79.3 3,415,299 79.4 0.4 Retail: 1-4 family mortgages 840,653 19.5 837,406 19.5 0.4 Other consumer loans 51,711 1.2 51,053 1.1 1.3 Total retail 892,364 20.7 888,459 20.6 0.4 Total loans $ 4,322,006 100.0 % $ 4,303,758 100.0 % 0.4 % |
Financing Receivable, Past Due [Table Text Block] | Recorded Greater Balance 30 59 60 89 Than 89 > 89 Days Days Days Total Total Days and (Dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Accruing Commercial: Commercial and industrial $ 16 $ 0 $ 249 $ 265 $ 1,222,372 $ 1,222,637 $ 0 Vacant land, land development, and residential construction 0 0 0 0 75,091 75,091 0 Real estate – owner occupied 0 0 0 0 719,338 719,338 0 Real estate – non- owner occupied 0 0 0 0 1,045,615 1,045,615 0 Real estate – multi-family and residential rental 0 0 0 0 366,961 366,961 0 Total commercial 16 0 249 265 3,429,377 3,429,642 0 Retail: 1-4 family mortgages 508 71 165 744 839,909 840,653 0 Other consumer loans 37 0 27 64 51,647 51,711 0 Total retail 545 71 192 808 891,556 892,364 0 Total past due loans $ 561 $ 71 $ 441 $ 1,073 $ 4,320,933 $ 4,322,006 $ 0 Recorded Greater Balance 30 59 60 89 Than 89 > 89 Days Days Days Total Total Days and (Dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Accruing Commercial: Commercial and industrial $ 4 $ 0 $ 249 $ 253 $ 1,254,333 $ 1,254,586 $ 0 Vacant land, land development, and residential construction 0 0 0 0 74,753 74,753 0 Real estate – owner occupied 0 0 70 70 717,597 717,667 0 Real estate – non-owner occupied 0 0 0 0 1,035,684 1,035,684 0 Real estate – multi-family and residential rental 0 0 0 0 332,609 332,609 0 Total commercial 4 0 319 323 3,414,976 3,415,299 0 Retail: 1-4 family mortgages 934 145 38 1,117 836,289 837,406 0 Other consumer loans 97 0 0 97 50,956 51,053 0 Total retail 1,031 145 38 1,214 887,245 888,459 0 Total past due loans $ 1,035 $ 145 $ 357 $ 1,537 $ 4,302,221 $ 4,303,758 $ 0 |
Financing Receivable, Nonaccrual [Table Text Block] | Recorded Principal Related (Dollars in thousands) Balance Allowance With no allowance recorded: Commercial: Commercial and industrial $ 16 $ 0 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 16 0 Retail: 1-4 family mortgages 2,431 0 Other consumer loans 27 0 Total retail 2,458 0 Total with no allowance recorded $ 2,474 $ 0 With an allowance recorded: Commercial: Commercial and industrial $ 2,652 $ 2,050 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 2,652 2,050 Retail: 1-4 family mortgages 805 221 Other consumer loans 108 108 Total retail 913 329 Total with an allowance recorded $ 3,565 $ 2,379 Total nonaccrual loans: Commercial $ 2,668 $ 2,050 Retail 3,371 329 Total nonaccrual loans $ 6,039 $ 2,379 Recorded Principal Related (Dollars in thousands) Balance Allowance With no allowance recorded: Commercial: Commercial and industrial $ 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 70 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 70 0 Retail: 1-4 family mortgages 2,272 0 Other consumer loans 0 0 Total retail 2,272 0 Total with no allowance recorded $ 2,342 $ 0 With an allowance recorded: Commercial: Commercial and industrial $ 249 $ 1 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 249 1 Retail: 1-4 family mortgages 824 240 Other consumer loans 0 0 Total retail 824 240 Total with an allowance recorded $ 1,073 $ 241 Total nonaccrual loans: Commercial $ 319 $ 1 Retail 3,096 240 Total nonaccrual loans $ 3,415 $ 241 |
Financing Receivable by Origination Year [Table Text Block] | Revolving Grand (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Term Total Loans Total Commercial: Commercial and Industrial: Grades 1 – 4 $ 27,101 $ 96,301 $ 69,429 $ 82,590 $ 18,922 $ 12,501 $ 306,844 $ 392,847 $ 699,691 Grades 5 – 7 22,011 152,270 50,958 15,246 16,947 8,116 265,548 233,465 499,013 Grades 8 – 9 3,608 314 1,968 290 0 0 6,180 17,753 23,933 Total $ 52,720 $ 248,885 $ 122,355 $ 98,126 $ 35,869 $ 20,617 $ 578,572 $ 644,065 $ 1,222,637 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 6 $ 6 Vacant Land, Land Development and Residential Construction: Grades 1 – 4 $ 6,294 $ 19,799 $ 3,727 $ 604 $ 189 $ 270 $ 30,883 $ 0 $ 30,883 Grades 5 – 7 7,269 16,830 19,371 134 2 594 44,200 0 44,200 Grades 8 – 9 0 8 0 0 0 0 8 0 8 Total $ 13,563 $ 36,637 $ 23,098 $ 738 $ 191 $ 864 $ 75,091 $ 0 $ 75,091 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Owner Occupied: Grades 1 – 4 $ 25,025 $ 198,247 $ 108,314 $ 82,699 $ 45,264 $ 14,792 $ 474,341 $ 0 $ 474,341 Grades 5 – 7 18,703 96,197 60,108 26,866 22,119 8,604 232,597 11,972 244,569 Grades 8 – 9 0 0 391 0 37 0 428 0 428 Total $ 43,728 $ 294,444 $ 168,813 $ 109,565 $ 67,420 $ 23,396 $ 707,366 $ 11,972 $ 719,338 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Non-Owner Occupied: Grades 1 – 4 $ 22,924 $ 104,075 $ 84,362 $ 112,211 $ 100,079 $ 30,405 $ 454,056 $ 0 $ 454,056 Grades 5 – 7 83,233 220,686 89,221 79,662 87,033 20,946 580,781 0 580,781 Grades 8 – 9 0 10,778 0 0 0 0 10,778 0 10,778 Total $ 106,157 $ 335,539 $ 173,583 $ 191,873 $ 187,112 $ 51,351 $ 1,045,615 $ 0 $ 1,045,615 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Multi-Family and Residential Rental: Grades 1 – 4 $ 454 $ 41,659 $ 10,860 $ 65,700 $ 34,642 $ 8,054 $ 161,369 $ 0 $ 161,369 Grades 5 – 7 3,309 96,528 75,412 4,556 8,854 4,672 193,331 49 193,380 Grades 8 – 9 0 11,225 0 0 987 0 12,212 0 12,212 Total $ 3,763 $ 149,412 $ 86,272 $ 70,256 $ 44,483 $ 12,726 $ 366,912 $ 49 $ 366,961 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Total Commercial $ 219,931 $ 1,064,917 $ 574,121 $ 470,558 $ 335,075 $ 108,954 $ 2,773,556 $ 656,086 $ 3,429,642 Total Commercial year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 6 $ 6 Retail: 1-4 Family Mortgages: Performing $ 11,675 $ 138,657 $ 326,965 $ 225,658 $ 78,013 $ 56,449 $ 837,417 $ 0 $ 837,417 Nonperforming 0 101 1,660 268 0 1,207 3,236 0 3,236 Total $ 11,675 $ 138,758 $ 328,625 $ 225,926 $ 78,013 $ 57,656 $ 840,653 $ 0 $ 840,653 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Other Consumer Loans: Performing $ 1,653 $ 4,553 $ 2,237 $ 1,311 $ 522 $ 1,179 $ 11,455 $ 40,121 $ 51,576 Nonperforming 108 0 0 0 0 0 108 27 135 Total $ 1,761 $ 4,553 $ 2,237 $ 1,311 $ 522 $ 1,179 $ 11,563 $ 40,148 $ 51,711 Year-to-date gross write offs $ 0 $ 1 $ 0 $ 8 $ 0 $ 0 $ 9 $ 0 $ 9 Total Retail $ 13,436 $ 143,311 $ 330,862 $ 227,237 $ 78,535 $ 58,835 $ 852,216 $ 40,148 $ 892,364 Total Retail year-to-date gross write offs $ 0 $ 1 $ 0 $ 8 $ 0 $ 0 $ 9 $ 0 $ 9 Total $ 233,367 $ 1,208,228 $ 904,983 $ 697,795 $ 413,610 $ 167,789 $ 3,625,772 $ 696,234 $ 4,322,006 Total year-to-date gross write offs $ 0 $ 1 $ 0 $ 8 $ 0 $ 0 $ 9 $ 6 $ 15 Revolving Grand (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Term Total Loans Total Commercial: Commercial and Industrial: Grades 1 – 4 $ 103,531 $ 79,883 $ 90,107 $ 20,577 $ 5,978 $ 9,160 $ 309,236 $ 414,920 $ 724,156 Grades 5 – 7 174,668 57,979 20,075 18,361 7,450 119 278,652 227,155 505,807 Grades 8 – 9 3,671 2,122 277 0 0 0 6,070 18,553 24,623 Total $ 281,870 $ 139,984 $ 110,459 $ 38,938 $ 13,428 $ 9,279 $ 593,958 $ 660,628 $ 1,254,586 Year-to-date gross write offs $ 0 $ 36 $ 0 $ 0 $ 0 $ 0 $ 36 $ 0 $ 36 Vacant Land, Land Development and Residential Construction: Grades 1 – 4 $ 24,875 $ 6,570 $ 1,108 $ 2,110 $ 0 $ 281 $ 34,944 $ 0 $ 34,944 Grades 5 – 7 17,799 21,244 138 2 40 496 39,719 0 39,719 Grades 8 – 9 9 0 0 0 0 81 90 0 90 Total $ 42,683 $ 27,814 $ 1,246 $ 2,112 $ 40 $ 858 $ 74,753 $ 0 $ 74,753 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Owner Occupied: Grades 1 – 4 $ 205,379 $ 110,130 $ 85,982 $ 47,630 $ 14,362 $ 2,908 $ 466,391 $ 1,948 $ 468,339 Grades 5 – 7 111,197 63,271 27,729 27,029 9,419 439 239,084 9,718 248,802 Grades 8 – 9 0 417 0 38 0 71 526 0 526 Total $ 316,576 $ 173,818 $ 113,711 $ 74,697 $ 23,781 $ 3,418 $ 706,001 $ 11,666 $ 717,667 Year-to-date gross write offs $ 0 $ 14 $ 0 $ 0 $ 0 $ 0 $ 14 $ 0 $ 14 Real Estate – Non-Owner Occupied: Grades 1 – 4 $ 109,125 $ 84,912 $ 113,846 $ 102,279 $ 27,664 $ 13,193 $ 451,019 $ 0 $ 451,019 Grades 5 – 7 233,471 118,464 109,238 88,315 6,148 18,135 573,771 0 573,771 Grades 8 – 9 10,894 0 0 0 0 0 10,894 0 10,894 Total $ 353,490 $ 203,376 $ 223,084 $ 190,594 $ 33,812 $ 31,328 $ 1,035,684 $ 0 $ 1,035,684 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Real Estate – Multi-Family and Residential Rental: Grades 1 – 4 $ 36,038 $ 28,512 $ 64,244 $ 35,129 $ 4,883 $ 3,649 $ 172,455 $ 0 $ 172,455 Grades 5 – 7 72,916 55,964 4,816 9,372 2,699 2,136 147,903 0 147,903 Grades 8 – 9 11,250 0 0 1,001 0 0 12,251 0 12,251 Total $ 120,204 $ 84,476 $ 69,060 $ 45,502 $ 7,582 $ 5,785 $ 332,609 $ 0 $ 332,609 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Total Commercial $ 1,114,823 $ 629,468 $ 517,560 $ 351,843 $ 78,643 $ 50,668 $ 2,743,005 $ 672,294 $ 3,415,299 Total Commercial year-to-date gross write offs $ 0 $ 50 $ 0 $ 0 $ 0 $ 0 $ 50 $ 0 $ 50 Retail: 1-4 Family Mortgages: Performing $ 133,823 $ 332,098 $ 231,842 $ 82,002 $ 10,515 $ 44,003 $ 834,283 $ 27 $ 834,310 Nonperforming 108 1,728 305 0 10 945 3,096 0 3,096 Total $ 133,931 $ 333,826 $ 232,147 $ 82,002 $ 10,525 $ 44,948 $ 837,379 $ 27 $ 837,406 Year-to-date gross write offs $ 0 $ 0 $ 0 $ 0 $ 0 $ 42 $ 42 $ 0 $ 42 Other Consumer Loans: Performing $ 5,138 $ 2,569 $ 1,664 $ 608 $ 651 $ 716 $ 11,346 $ 39,707 $ 51,053 Nonperforming 0 0 0 0 0 0 0 0 0 Total $ 5,138 $ 2,569 $ 1,664 $ 608 $ 651 $ 716 $ 11,346 $ 39,707 $ 51,053 Year-to-date gross write offs $ 0 $ 3 $ 0 $ 0 $ 0 $ 1 $ 4 $ 10 $ 14 Total Retail $ 139,069 $ 336,395 $ 233,811 $ 82,610 $ 11,176 $ 45,664 $ 848,725 $ 39,734 $ 888,459 Total Retail year-to-date gross write offs $ 0 $ 3 $ 0 $ 0 $ 0 $ 43 $ 46 $ 10 $ 56 Total $ 1,253,892 $ 965,863 $ 751,371 $ 434,453 $ 89,819 $ 96,332 $ 3,591,730 $ 712,028 $ 4,303,758 Total year-to-date gross write offs $ 0 $ 53 $ 0 $ 0 $ 0 $ 43 $ 96 $ 10 $ 106 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial vacant land, Commercial land development Commercial Commercial real estate – Commercial and real estate – real estate – multi-family Other (Dollars in and residential owner non-owner and 1-4 family consumer thousands) industrial construction occupied occupied residential rental mortgages loans Unallocated Total Balance at 12-31-23 $ 7,441 $ 384 $ 7,186 $ 9,852 $ 3,184 $ 18,986 $ 2,881 $ 0 $ 49,914 Provision for credit losses 1,466 2 (151 ) 289 232 (476 ) (77 ) 15 1,300 Charge-offs (6 ) 0 0 0 0 0 (9 ) 0 (15 ) Recoveries 277 1 57 0 4 70 30 0 439 Ending balance $ 9,178 $ 387 $ 7,092 $ 10,141 $ 3,420 $ 18,580 $ 2,825 $ 15 $ 51,638 Commercial vacant land, Commercial land development Commercial Commercial real estate – Commercial and real estate – real estate – multi-family Other (Dollars in and residential owner non-owner and 1-4 family consumer thousands) industrial construction occupied occupied residential rental mortgages loans Unallocated Total Balance at 12-31-22 $ 10,203 $ 490 $ 5,914 $ 9,242 $ 2,191 $ 14,027 $ 160 $ 19 $ 42,246 Credit risk reclassifications 90 0 0 0 0 (697 ) 607 0 0 Balance after reclassifications 10,293 490 5,914 9,242 2,191 13,330 767 19 42,246 Provision for credit losses (757 ) (41 ) (28 ) (115 ) 313 1,168 3 57 600 Charge-offs (36 ) 0 (14 ) 0 0 (42 ) (14 ) 0 (106 ) Recoveries 21 1 48 0 7 41 19 0 137 Ending balance $ 9,521 $ 450 $ 5,920 $ 9,127 $ 2,511 $ 14,497 $ 775 $ 76 $ 42,877 |
Financing Receivable, Modified, Financial Effect [Table Text Block] | Interest Rate Principal (Dollars in thousands) Reduction Term Extension Forgiveness Commercial: Commercial and industrial $ 0 $ 500 $ 0 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 $ 0 $ 500 $ 0 Retail: 1-4 family mortgages 0 0 0 Other consumer loans 0 0 0 Total retail $ 0 $ 0 $ 0 Total loans $ 0 $ 500 $ 0 |
Financing Receivable, Modified, Amortized Cost [Table Text Block] | 30 – 89 Days 90 + Days (Dollars in thousands) Current Past Due Past Due Total Commercial: Commercial and industrial $ 18,506 $ 0 $ 0 $ 18,506 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 0 0 0 0 Real estate – non-owner occupied 10,778 0 0 10,778 Real estate – multi-family and residential rental 0 0 0 0 Total commercial $ 29,284 $ 0 $ 0 $ 29,284 Retail: 1-4 family mortgages 0 0 0 0 Other consumer loans 0 0 0 0 Total retail $ 0 $ 0 $ 0 $ 0 Total loans $ 29,284 $ 0 $ 0 $ 29,284 |
Note 4 - Premises and Equipme_2
Note 4 - Premises and Equipment, Net (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, December 31, (Dollars in thousands) 2024 2023 Land and improvements $ 12,782 $ 12,782 Buildings 57,881 56,778 Furniture and equipment 25,428 25,157 96,091 94,717 Less: accumulated depreciation 45,256 43,789 Premises and equipment, net $ 50,835 $ 50,928 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | (Dollars in thousands) 2024 $ 920 2025 1,010 2026 950 2027 878 2028 697 Thereafter 1,519 Total undiscounted lease payments 5,974 Less effect of discounting (1,298 ) Present value of future lease payments (lease liability) $ 4,676 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Summary of Deposits and Percentage Change in Deposits [Table Text Block] | Percent March 31, 2024 December 31, 2023 Increase (Dollars in thousands) Balance % Balance % (Decrease) Noninterest-bearing checking $ 1,134,995 28.3 % $ 1,247,640 32.1 % (9.0 )% Interest-bearing checking 622,287 15.5 635,790 16.3 (2.1 ) Money market 1,137,877 28.4 957,434 24.5 18.8 Savings 259,556 6.5 262,566 6.7 (1.1 ) Time, under $100,000 187,249 4.7 175,741 4.5 6.5 Time, $100,000 and over 492,734 12.3 453,366 11.6 8.7 Total local deposits 3,834,698 95.7 3,732,537 95.7 2.7 Out-of-area time, $100,000 and over 173,112 4.3 168,381 4.3 2.8 Total deposits $ 4,007,810 100.0 % $ 3,900,918 100.0 % 2.7 % |
Note 6 - Securities Sold Unde_2
Note 6 - Securities Sold Under Agreements to Repurchase (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Repurchase Agreements [Table Text Block] | Three Months Ended Twelve Months Ended (Dollars in thousands) March 31, 2024 December 31, 2023 Outstanding balance at end of period $ 228,618 $ 229,734 Average interest rate at end of period 3.30 % 3.17 % Average daily balance during the period $ 216,674 $ 204,334 Average interest rate during the period 3.06 % 1.33 % Maximum daily balance during the period $ 247,056 $ 269,324 |
Note 7 - Federal Home Loan Ba_2
Note 7 - Federal Home Loan Bank of Indianapolis Advances (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Amortizing Advances [Member] | |
Notes Tables | |
Maturities of Currently Outstanding FHLB Advances [Table Text Block] | (Dollars in thousands) 2024 $ 0 2025 826 2026 862 2027 899 2028 938 Thereafter 23,558 |
Bullet Advances [member] | |
Notes Tables | |
Maturities of Currently Outstanding FHLB Advances [Table Text Block] | (Dollars in thousands) 2024 $ 60,000 2025 80,000 2026 80,000 2027 100,000 2028 90,000 Thereafter 10,000 |
Note 8 - Commitments and Off-_2
Note 8 - Commitments and Off-balance Sheet Risk (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Summary of Contractual Amounts of Financial Instruments With Off Balance Sheet Risk [Table Text Block] | March 31, December 31, (Dollars in thousands) 2024 2023 Commercial unused lines of credit $ 1,562,294 $ 1,557,429 Unused lines of credit secured by 1–4 family residential properties 74,824 74,120 Credit card unused lines of credit 150,098 142,096 Other consumer unused lines of credit 40,140 50,063 Commitments to make loans 234,946 270,403 Standby letters of credit 19,540 19,393 $ 2,081,842 $ 2,113,504 |
Note 9 - Derivatives and Hedg_2
Note 9 - Derivatives and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | Balance Sheet (Dollars in thousands) Notional Amount Location Fair Value Derivative Assets Interest rate swaps $ 766,564 Other Assets $ 29,661 Derivative Liabilities Interest rate swaps 764,537 Other Liabilities 30,036 Balance Sheet (Dollars in thousands) Notional Amount Location Fair Value Derivative Assets Interest rate swaps $ 676,526 Other Assets $ 27,505 Derivative Liabilities Interest rate swaps 674,499 Other Liabilities 27,964 |
Offsetting Assets and Liabilities [Table Text Block] | Gross Amounts Not Offset on the Consolidated Balance Sheet (Dollars in thousands) Net Amounts Recognized Financial Instruments Cash Collateral Received or Posted Net Amount Derivative Assets Interest rate swaps $ 29,661 $ 2,303 $ 22,770 $ 4,588 Derivative Liabilities Interest rate swaps 30,036 2,303 2,250 25,483 Gross Amounts Not Offset on the Consolidated Balance Sheet (Dollars in thousands) Net Amounts Recognized Financial Instruments Cash Collateral Received or Posted Net Amount Derivative Assets Interest rate swaps $ 27,505 $ 5,175 $ 14,010 $ 8,320 Derivative Liabilities Interest rate swaps 27,964 5,175 3,120 19,669 |
Note 10 - Fair Values of Fina_2
Note 10 - Fair Values of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Level in March 31, 2024 December 31, 2023 Fair Value Carrying Fair Carrying Fair (Dollars in thousands) Hierarchy Values Values Values Values Financial assets: Cash and cash equivalents Level 1 $ 237,231 $ 237,231 $ 130,533 $ 130,533 Securities available for sale (1) 609,153 609,153 617,092 617,092 FHLBI stock (2) 21,513 21,513 21,513 21,513 Loans, net Level 3 4,270,368 4,243,647 4,253,844 4,191,644 Mortgage loans held for sale Level 2 14,393 14,603 18,607 19,027 Accrued interest receivable Level 2 21,681 21,681 19,806 19,806 Interest rate swaps Level 2 29,661 29,661 27,505 27,505 Financial liabilities: Deposits Level 2 4,007,810 3,900,366 3,900,918 3,814,778 Securities sold under agreements to repurchase Level 2 228,618 228,618 229,734 229,734 FHLBI advances Level 2 447,083 430,397 467,910 454,857 Subordinated debentures Level 2 49,815 49,824 49,644 49,653 Subordinated notes Level 2 89,057 78,131 88,971 77,218 Accrued interest payable Level 2 10,107 10,107 9,012 9,012 Interest rate swaps Level 2 30,036 30,036 27,964 27,964 |
Note 11 - Fair Values (Tables)
Note 11 - Fair Values (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted Prices in Active Markets Significant for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government agency debt obligations $ 385,709 $ 0 $ 385,709 $ 0 Mortgage-backed securities 27,782 0 27,782 0 Municipal general obligation bonds 166,632 0 166,126 506 Municipal revenue bonds 28,530 0 28,530 0 Other investments 500 0 500 0 Interest rate swaps 29,661 0 29,661 0 Total assets $ 638,814 $ 0 $ 638,308 $ 506 Interest rate swaps 30,036 0 30,036 0 Total liabilities $ 30,036 $ 0 $ 30,036 $ 0 Quoted Prices in Active Markets Significant for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government agency debt obligations $ 390,496 $ 0 $ 390,496 $ 0 Mortgage-backed securities 29,473 0 29,473 0 Municipal general obligation bonds 167,860 0 167,347 513 Municipal revenue bonds 28,763 0 28,763 0 Other investments 500 0 500 0 Interest rate swaps 27,505 0 27,505 0 Total assets $ 644,597 $ 0 $ 644,084 $ 513 Interest rate swaps 27,964 0 27,964 0 Total liabilities $ 27,964 $ 0 $ 27,964 $ 0 |
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 (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) Collateral dependent loans $ 1,573 $ 0 $ 0 $ 1,573 Foreclosed assets 200 0 0 200 Total $ 1,773 $ 0 $ 0 $ 1,773 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) Collateral dependent loans $ 1,434 $ 0 $ 0 $ 1,434 Foreclosed assets 200 0 0 200 Total $ 1,634 $ 0 $ 0 $ 1,634 |
Note 12 - Regulatory Matters (T
Note 12 - Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio March 31, 2024 Total capital (to risk weighted assets) Consolidated $ 729,410 14.1 % $ 415,299 8.0 % $ NA NA% Bank 712,688 13.8 413,264 8.0 516,580 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 587,888 11.3 311,474 6.0 NA NA Bank 660,223 12.8 309,948 6.0 413,264 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 540,147 10.4 233,606 4.5 NA NA Bank 660,223 12.8 232,461 4.5 335,777 6.5 Tier 1 capital (to average assets) Consolidated 587,888 10.9 216,108 4.0 NA NA Bank 660,223 12.3 215,092 4.0 268,865 5.0 December 31, 2023 Total capital (to risk weighted assets) Consolidated $ 710,905 13.7 % $ 415,841 8.0 % $ NA NA% Bank 694,431 13.4 414,019 8.0 517,524 10.0 Tier 1 capital (to risk weighted assets) Consolidated 570,730 11.0 311,881 6.0 NA NA Bank 643,227 12.4 310,514 6.0 414,019 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 523,160 10.1 233,911 4.5 NA NA Bank 643,227 12.4 232,886 4.5 336,391 6.5 Tier 1 capital (to average assets) Consolidated 570,730 10.8 210,527 4.0 NA NA Bank 643,227 12.2 210,427 4.0 263,034 5.0 |
Note 1 - Significant Accounti_3
Note 1 - Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 USD ($) shares | Mar. 31, 2023 USD ($) shares | Dec. 31, 2023 USD ($) | |
Number of Unconsolidated Business Trusts Formed to Issue Trust Preferred Securities | 5 | ||
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 | |
Financing Receivable, Unamortized Loan Cost (Fee) | $ 2,500 | 2,400 | |
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 | ||
Loan, Mortgage, Held-for-Sale, Fair Value Disclosure | $ 14,600 | 19,000 | |
Financing Receivable, Credit Loss, Expense (Reversal) | 1,300 | $ 600 | |
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | 17,400 | $ 16,900 | |
Continuing Involvement with Transferred Financial Assets, Principal Amount Outstanding | 1,420,000 | $ 1,400,000 | |
Goodwill, Impairment Loss | $ 0 | ||
Restricted Stock [Member] | |||
Incremental Common Shares Attributable to Participating Nonvested Shares with Non-forfeitable Dividend Rights (in shares) | shares | 327,000 | 360,000 | |
Share-Based Payment Arrangement, Option [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 5,000 |
Note 1 - Significant Accounti_4
Note 1 - Significant Accounting Policies - Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Service Charges on Deposit and Sweep Accounts [Member] | ||
Noninterest revenue | $ 1,531 | $ 976 |
Credit and Debit Card [Member] | ||
Noninterest revenue | 2,121 | 2,060 |
Payroll Processing [Member] | ||
Noninterest revenue | 896 | 746 |
Customer Service [Member] | ||
Noninterest revenue | $ 198 | $ 220 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 679 | 641 |
Debt Securities, Available-for-Sale, Unrealized Loss Position | $ 556,083 | $ 548,747 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss | 68,460 | 66,112 |
Proceeds from Sale of Debt Securities, Available-for-Sale | 0 | 0 |
Debt Securities, Available-for-Sale, Amortized Cost | 676,208 | 680,998 |
Debt Securities, Available-for-Sale | 609,153 | 617,092 |
Bonds Issued or Guaranteed by Agencies of the U.S. Federal Government [Member] | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss | 59,200 | |
Bonds Issued by State-based Municipalities [Member] | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss | 9,200 | |
State of Michigan and All Its Political Subdivisions [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 203,000 | 203,000 |
Debt Securities, Available-for-Sale | 195,000 | 197,000 |
All Other States and Their Political Subdivisions [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 0 | 0 |
US Government Agency Debt Obligations and Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-Sale, Restricted | $ 229,000 | $ 230,000 |
Note 2 - Securities - Available
Note 2 - Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Total, amortized cost | $ 676,208 | $ 680,998 |
Securities available for sale, gross unrealized gains | 1,405 | 2,206 |
Securities available for sale, gross unrealized losses | (68,460) | (66,112) |
Fair value | 609,153 | 617,092 |
US Government Agencies Debt Securities [Member] | ||
Total, amortized cost | 438,662 | 442,496 |
Securities available for sale, gross unrealized gains | 0 | 0 |
Securities available for sale, gross unrealized losses | (52,953) | (52,000) |
Fair value | 385,709 | 390,496 |
Collateralized Mortgage-Backed Securities [Member] | ||
Total, amortized cost | 34,059 | 35,168 |
Securities available for sale, gross unrealized gains | 10 | 20 |
Securities available for sale, gross unrealized losses | (6,287) | (5,715) |
Fair value | 27,782 | 29,473 |
Municipal General Obligation Bonds [Member] | ||
Total, amortized cost | 172,279 | 172,126 |
Securities available for sale, gross unrealized gains | 1,244 | 1,924 |
Securities available for sale, gross unrealized losses | (6,891) | (6,190) |
Fair value | 166,632 | 167,860 |
Municipal Revenue Bonds [Member] | ||
Total, amortized cost | 30,708 | 30,708 |
Securities available for sale, gross unrealized gains | 151 | 262 |
Securities available for sale, gross unrealized losses | (2,329) | (2,207) |
Fair value | 28,530 | 28,763 |
Other Debt and Equity Securities [Member] | ||
Total, amortized cost | 500 | 500 |
Securities available for sale, gross unrealized gains | 0 | 0 |
Securities available for sale, gross unrealized losses | 0 | 0 |
Fair value | $ 500 | $ 500 |
Note 2 - Securities - Securitie
Note 2 - Securities - Securities in a Continuous Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Securities available for sale, continuous unrealized loss position, less than 12 months | $ 21,735 | $ 2,729 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 202 | 14 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 534,348 | 546,018 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 68,258 | 66,098 |
Securities available for sale, continuous unrealized loss position | 556,083 | 548,747 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 68,460 | 66,112 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 0 | 0 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 385,709 | 390,496 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 52,953 | 52,000 |
Securities available for sale, continuous unrealized loss position | 385,709 | 390,496 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 52,953 | 52,000 |
Collateralized Mortgage-Backed Securities [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 201 | 114 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 3 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 27,089 | 28,749 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 6,284 | 5,715 |
Securities available for sale, continuous unrealized loss position | 27,290 | 28,863 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 6,287 | 5,715 |
Municipal General Obligation Bonds [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 20,393 | 1,109 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 189 | 6 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 100,489 | 106,171 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 6,702 | 6,184 |
Securities available for sale, continuous unrealized loss position | 120,882 | 107,280 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 6,891 | 6,190 |
Municipal Revenue Bonds [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 1,141 | 1,506 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 10 | 8 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 21,061 | 20,602 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 2,319 | 2,199 |
Securities available for sale, continuous unrealized loss position | 22,202 | 22,108 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 2,329 | 2,207 |
Other Debt and Equity Securities [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 0 | 0 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 0 | 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 | 0 | 0 |
Securities available for sale, continuous unrealized loss position, unrealized loss | $ 0 | $ 0 |
Note 2 - Securities - Debt Secu
Note 2 - Securities - Debt Securities by Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Due in one year or less, amortized cost | $ 53,520 | |
Due in one year or less, fair value | 52,568 | |
Due from one to five years, amortized cost | 329,740 | |
Due from one to five years, fair value | 301,553 | |
Due from five to ten years, amortized cost | 227,431 | |
Due from five to ten years, fair value | 196,189 | |
Due after ten years, amortized cost | 30,958 | |
Due after ten years, fair value | 30,561 | |
Total, amortized cost | 676,208 | $ 680,998 |
Fair value | 609,153 | 617,092 |
Collateralized Mortgage-Backed Securities [Member] | ||
No single maturity, amortized cost | 34,059 | |
No single maturity, fair value | 27,782 | |
Total, amortized cost | 34,059 | 35,168 |
Fair value | 27,782 | 29,473 |
Other Debt and Equity Securities [Member] | ||
No single maturity, amortized cost | 500 | |
No single maturity, fair value | 500 | |
Total, amortized cost | 500 | 500 |
Fair value | $ 500 | $ 500 |
Note 3 - Loans and Allowance _3
Note 3 - Loans and Allowance for Credit Losses (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Financing Receivable, before Allowance for Credit Loss | $ 4,322,006 | $ 4,303,758 | |
Increase (Decrease) in Finance Receivables | $ 18,200 | ||
Loans and Leases Receivable, Percentage Period Increase (Decrease) | 0.40% | ||
Financing Receivable, Nonaccrual, Interest Income | $ 200 | $ 100 | |
Financing Receivable, Revolving, Converted to Term Loan During Period | 2,800 | 6,400 | |
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) From Forecast Changes | (2,300) | (2,000) | |
Financing Receivable, Individually Evaluated for Credit Loss | 7,900 | 5,400 | |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 2,500 | 400 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, before Allowance for Credit Loss | $ 3,429,642 | $ 3,415,299 | |
Financing Receivables, Prepayment Speed Assumed | 2% | 2% | |
Commercial Portfolio Segment [Member] | Commercial and Industrial, Credit Cards to Business Customers [Member] | |||
Financing Receivable, before Allowance for Credit Loss | $ 17,800 | ||
Retail Portfolio Segment [Member] | |||
Financing Receivable, before Allowance for Credit Loss | $ 892,364 | 888,459 | |
Retail Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Financing Receivable, before Allowance for Credit Loss | 38,100 | ||
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Financing Receivable, before Allowance for Credit Loss | $ 840,653 | $ 837,406 | |
Financing Receivables, Prepayment Speed Assumed | 9% | 9% | |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | |||
Financing Receivable, before Allowance for Credit Loss | $ 51,711 | $ 51,053 | |
Financing Receivables, Prepayment Speed Assumed | 9% | 9% |
Note 3 - Loans and Allowance _4
Note 3 - Loans and Allowance for Credit Losses - Components of Loan Portfolio (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Loans | $ 4,322,006 | $ 4,303,758 |
Percent of portfolio | 100% | 100% |
Period increase (decrease) | 0.40% | |
Commercial Portfolio Segment [Member] | ||
Loans | $ 3,429,642 | $ 3,415,299 |
Percent of portfolio | 79.30% | 79.40% |
Period increase (decrease) | 0.40% | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans | $ 1,222,637 | $ 1,254,586 |
Percent of portfolio | 28.30% | 29.20% |
Period increase (decrease) | (2.50%) | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Loans | $ 75,091 | $ 74,753 |
Percent of portfolio | 1.70% | 1.70% |
Period increase (decrease) | 0.50% | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Loans | $ 719,338 | $ 717,667 |
Percent of portfolio | 16.60% | 16.70% |
Period increase (decrease) | 0.20% | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Loans | $ 1,045,615 | $ 1,035,684 |
Percent of portfolio | 24.20% | 24.10% |
Period increase (decrease) | 1% | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Loans | $ 366,961 | $ 332,609 |
Percent of portfolio | 8.50% | 7.70% |
Period increase (decrease) | 10.30% | |
Retail Portfolio Segment [Member] | ||
Loans | $ 892,364 | $ 888,459 |
Percent of portfolio | 20.70% | 20.60% |
Period increase (decrease) | 0.40% | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Loans | $ 840,653 | $ 837,406 |
Percent of portfolio | 19.50% | 19.50% |
Period increase (decrease) | 0.40% | |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Loans | $ 51,711 | $ 51,053 |
Percent of portfolio | 1.20% | 1.10% |
Period increase (decrease) | 1.30% |
Note 3 - Loans and Allowance _5
Note 3 - Loans and Allowance for Credit Losses - Age Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable, before Allowance for Credit Loss | $ 4,322,006 | $ 4,303,758 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 3,429,642 | 3,415,299 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 1,222,637 | 1,254,586 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 75,091 | 74,753 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 719,338 | 717,667 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 1,045,615 | 1,035,684 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 366,961 | 332,609 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Retail Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 892,364 | 888,459 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 840,653 | 837,406 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 51,711 | 51,053 |
Recorded Balance 89 Days and Accruing | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 561 | 1,035 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 16 | 4 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 16 | 4 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 545 | 1,031 |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 508 | 934 |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 37 | 97 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 71 | 145 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 71 | 145 |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 71 | 145 |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 441 | 357 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 249 | 319 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 249 | 249 |
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] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 70 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
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] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 192 | 38 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 165 | 38 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 27 | 0 |
Financial Asset, Past Due [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 1,073 | 1,537 |
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 265 | 323 |
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 265 | 253 |
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 70 |
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Past Due [Member] | Retail Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 808 | 1,214 |
Financial Asset, Past Due [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 744 | 1,117 |
Financial Asset, Past Due [Member] | Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 64 | 97 |
Financial Asset, Not Past Due [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 4,320,933 | 4,302,221 |
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 3,429,377 | 3,414,976 |
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 1,222,372 | 1,254,333 |
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 75,091 | 74,753 |
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 719,338 | 717,597 |
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 1,045,615 | 1,035,684 |
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 366,961 | 332,609 |
Financial Asset, Not Past Due [Member] | Retail Portfolio Segment [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 891,556 | 887,245 |
Financial Asset, Not Past Due [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 839,909 | 836,289 |
Financial Asset, Not Past Due [Member] | Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, before Allowance for Credit Loss | $ 51,647 | $ 50,956 |
Note 3 - Loans and Allowance _6
Note 3 - Loans and Allowance for Loan Losses - Nonaccrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
With no related allowance recorded, principal balance | $ 2,474 | $ 2,342 |
With related allowance recorded, principal balance | 3,565 | 1,073 |
Related allowance | 2,379 | 241 |
Total principal balance | 6,039 | 3,415 |
Commercial Portfolio Segment [Member] | ||
With no related allowance recorded, principal balance | 16 | 70 |
With related allowance recorded, principal balance | 2,652 | 249 |
Related allowance | 2,050 | 1 |
Total principal balance | 2,668 | 319 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
With no related allowance recorded, principal balance | 16 | 0 |
With related allowance recorded, principal balance | 2,652 | 249 |
Related allowance | 2,050 | 1 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
With no related allowance recorded, principal balance | 0 | 0 |
With related allowance recorded, principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
With no related allowance recorded, principal balance | 0 | 70 |
With related allowance recorded, principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
With no related allowance recorded, principal balance | 0 | 0 |
With related allowance recorded, principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
With no related allowance recorded, principal balance | 0 | 0 |
With related allowance recorded, principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Retail Portfolio Segment [Member] | ||
With no related allowance recorded, principal balance | 2,458 | 2,272 |
With related allowance recorded, principal balance | 913 | 824 |
Related allowance | 329 | 240 |
Total principal balance | 3,371 | 3,096 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
With no related allowance recorded, principal balance | 2,431 | 2,272 |
With related allowance recorded, principal balance | 805 | 824 |
Related allowance | 221 | 240 |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
With no related allowance recorded, principal balance | 27 | 0 |
With related allowance recorded, principal balance | 108 | 0 |
Related allowance | $ 108 | $ 0 |
Note 3 - Loans and Allowance _7
Note 3 - Loans and Allowance for Credit Losses - Loan Vintage (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Financing Receivable, Year One, Originated, Current Fiscal Year | $ 233,367 | $ 1,253,892 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,208,228 | 965,863 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 904,983 | 751,371 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 697,795 | 434,453 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 413,610 | 89,819 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 167,789 | 96,332 | |
Financing Receivable, Term Loan | 3,625,772 | 3,591,730 | |
Financing Receivable, Revolving | 696,234 | 712,028 | |
Loans | 4,322,006 | 4,303,758 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | $ 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 1 | 53 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 8 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 43 | |
Financing receivable, term loan write offs | 9 | 96 | |
Financing Receivable, Revolving, Writeoff | 6 | 10 | |
Year-to-date gross write offs | 15 | 106 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 219,931 | 1,114,823 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,064,917 | 629,468 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 574,121 | 517,560 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 470,558 | 351,843 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 335,075 | 78,643 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 108,954 | 50,668 | |
Financing Receivable, Term Loan | 2,773,556 | 2,743,005 | |
Financing Receivable, Revolving | 656,086 | 672,294 | |
Loans | 3,429,642 | 3,415,299 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 50 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing receivable, term loan write offs | 0 | 50 | |
Financing Receivable, Revolving, Writeoff | 6 | 0 | |
Year-to-date gross write offs | 6 | 50 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 52,720 | 281,870 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 248,885 | 139,984 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 122,355 | 110,459 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 98,126 | 38,938 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 35,869 | 13,428 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 20,617 | 9,279 | |
Financing Receivable, Term Loan | 578,572 | 593,958 | |
Financing Receivable, Revolving | 644,065 | 660,628 | |
Loans | 1,222,637 | 1,254,586 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 36 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing receivable, term loan write offs | 0 | 36 | |
Financing Receivable, Revolving, Writeoff | 6 | 0 | |
Year-to-date gross write offs | 6 | 36 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Grades 1-4 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 27,101 | 103,531 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 96,301 | 79,883 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 69,429 | 90,107 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 82,590 | 20,577 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 18,922 | 5,978 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 12,501 | 9,160 | |
Financing Receivable, Term Loan | 306,844 | 309,236 | |
Financing Receivable, Revolving | 392,847 | 414,920 | |
Loans | 699,691 | 724,156 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Grades 5-7 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 22,011 | 174,668 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 152,270 | 57,979 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 50,958 | 20,075 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 15,246 | 18,361 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 16,947 | 7,450 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 8,116 | 119 | |
Financing Receivable, Term Loan | 265,548 | 278,652 | |
Financing Receivable, Revolving | 233,465 | 227,155 | |
Loans | 499,013 | 505,807 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Grades 8-9 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,608 | 3,671 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 314 | 2,122 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,968 | 277 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 290 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Term Loan | 6,180 | 6,070 | |
Financing Receivable, Revolving | 17,753 | 18,553 | |
Loans | 23,933 | 24,623 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 13,563 | 42,683 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 36,637 | 27,814 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 23,098 | 1,246 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 738 | 2,112 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 191 | 40 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 864 | 858 | |
Financing Receivable, Term Loan | 75,091 | 74,753 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 75,091 | 74,753 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing receivable, term loan write offs | 0 | 0 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Year-to-date gross write offs | 0 | 0 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Grades 1-4 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 6,294 | 24,875 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 19,799 | 6,570 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 3,727 | 1,108 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 604 | 2,110 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 189 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 270 | 281 | |
Financing Receivable, Term Loan | 30,883 | 34,944 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 30,883 | 34,944 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Grades 5-7 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 7,269 | 17,799 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 16,830 | 21,244 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 19,371 | 138 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 134 | 2 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 2 | 40 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 594 | 496 | |
Financing Receivable, Term Loan | 44,200 | 39,719 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 44,200 | 39,719 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Grades 8-9 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 9 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 8 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 81 | |
Financing Receivable, Term Loan | 8 | 90 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 8 | 90 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 43,728 | 316,576 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 294,444 | 173,818 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 168,813 | 113,711 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 109,565 | 74,697 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 67,420 | 23,781 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 23,396 | 3,418 | |
Financing Receivable, Term Loan | 707,366 | 706,001 | |
Financing Receivable, Revolving | 11,972 | 11,666 | |
Loans | 719,338 | 717,667 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 14 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing receivable, term loan write offs | 0 | 14 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Year-to-date gross write offs | 0 | 14 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Grades 1-4 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 25,025 | 205,379 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 198,247 | 110,130 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 108,314 | 85,982 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 82,699 | 47,630 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 45,264 | 14,362 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 14,792 | 2,908 | |
Financing Receivable, Term Loan | 474,341 | 466,391 | |
Financing Receivable, Revolving | 0 | 1,948 | |
Loans | 474,341 | 468,339 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Grades 5-7 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 18,703 | 111,197 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 96,197 | 63,271 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 60,108 | 27,729 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 26,866 | 27,029 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 22,119 | 9,419 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 8,604 | 439 | |
Financing Receivable, Term Loan | 232,597 | 239,084 | |
Financing Receivable, Revolving | 11,972 | 9,718 | |
Loans | 244,569 | 248,802 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Grades 8-9 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 417 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 391 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 38 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 37 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 71 | |
Financing Receivable, Term Loan | 428 | 526 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 428 | 526 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 106,157 | 353,490 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 335,539 | 203,376 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 173,583 | 223,084 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 191,873 | 190,594 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 187,112 | 33,812 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 51,351 | 31,328 | |
Financing Receivable, Term Loan | 1,045,615 | 1,035,684 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 1,045,615 | 1,035,684 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing receivable, term loan write offs | 0 | 0 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Year-to-date gross write offs | 0 | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Grades 1-4 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 22,924 | 109,125 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 104,075 | 84,912 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 84,362 | 113,846 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 112,211 | 102,279 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 100,079 | 27,664 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 30,405 | 13,193 | |
Financing Receivable, Term Loan | 454,056 | 451,019 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 454,056 | 451,019 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Grades 5-7 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 83,233 | 233,471 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 220,686 | 118,464 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 89,221 | 109,238 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 79,662 | 88,315 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 87,033 | 6,148 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 20,946 | 18,135 | |
Financing Receivable, Term Loan | 580,781 | 573,771 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 580,781 | 573,771 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Grades 8-9 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 10,894 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 10,778 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Term Loan | 10,778 | 10,894 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 10,778 | 10,894 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,763 | 120,204 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 149,412 | 84,476 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 86,272 | 69,060 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 70,256 | 45,502 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 44,483 | 7,582 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 12,726 | 5,785 | |
Financing Receivable, Term Loan | 366,912 | 332,609 | |
Financing Receivable, Revolving | 49 | 0 | |
Loans | 366,961 | 332,609 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing receivable, term loan write offs | 0 | 0 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Year-to-date gross write offs | 0 | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Grades 1-4 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 454 | 36,038 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 41,659 | 28,512 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 10,860 | 64,244 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 65,700 | 35,129 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 34,642 | 4,883 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 8,054 | 3,649 | |
Financing Receivable, Term Loan | 161,369 | 172,455 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 161,369 | 172,455 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Grades 5-7 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,309 | 72,916 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 96,528 | 55,964 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 75,412 | 4,816 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 4,556 | 9,372 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 8,854 | 2,699 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,672 | 2,136 | |
Financing Receivable, Term Loan | 193,331 | 147,903 | |
Financing Receivable, Revolving | 49 | 0 | |
Loans | 193,380 | 147,903 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Grades 8-9 [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 11,250 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 11,225 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 1,001 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 987 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Term Loan | 12,212 | 12,251 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 12,212 | 12,251 | |
Retail Portfolio Segment [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 13,436 | 139,069 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 143,311 | 336,395 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 330,862 | 233,811 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 227,237 | 82,610 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 78,535 | 11,176 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 58,835 | 45,664 | |
Financing Receivable, Term Loan | 852,216 | 848,725 | |
Financing Receivable, Revolving | 40,148 | 39,734 | |
Loans | 892,364 | 888,459 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 1 | 3 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 8 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 43 | |
Financing receivable, term loan write offs | 9 | 46 | |
Financing Receivable, Revolving, Writeoff | 0 | 10 | |
Year-to-date gross write offs | 9 | 56 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 11,675 | 133,931 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 138,758 | 333,826 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 328,625 | 232,147 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 225,926 | 82,002 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 78,013 | 10,525 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 57,656 | 44,948 | |
Financing Receivable, Term Loan | 840,653 | 837,379 | |
Financing Receivable, Revolving | 0 | 27 | |
Loans | 840,653 | 837,406 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 42 | |
Financing receivable, term loan write offs | 0 | 42 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Year-to-date gross write offs | 0 | 42 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Performing Financial Instruments [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 11,675 | 133,823 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 138,657 | 332,098 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 326,965 | 231,842 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 225,658 | 82,002 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 78,013 | 10,515 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 56,449 | 44,003 | |
Financing Receivable, Term Loan | 837,417 | 834,283 | |
Financing Receivable, Revolving | 0 | 27 | |
Loans | 837,417 | 834,310 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 108 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 101 | 1,728 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,660 | 305 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 268 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 10 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,207 | 945 | |
Financing Receivable, Term Loan | 3,236 | 3,096 | |
Financing Receivable, Revolving | 0 | 0 | |
Loans | 3,236 | 3,096 | |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,761 | 5,138 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 4,553 | 2,569 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 2,237 | 1,664 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,311 | 608 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 522 | 651 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,179 | 716 | |
Financing Receivable, Term Loan | 11,563 | 11,346 | |
Financing Receivable, Revolving | 40,148 | 39,707 | |
Loans | 51,711 | 51,053 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 1 | 3 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 8 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 1 | |
Financing receivable, term loan write offs | 9 | 4 | |
Financing Receivable, Revolving, Writeoff | 0 | 10 | |
Year-to-date gross write offs | 9 | $ 14 | |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | Performing Financial Instruments [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,653 | 5,138 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 4,553 | 2,569 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 2,237 | 1,664 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,311 | 608 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 522 | 651 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,179 | 716 | |
Financing Receivable, Term Loan | 11,455 | 11,346 | |
Financing Receivable, Revolving | 40,121 | 39,707 | |
Loans | 51,576 | 51,053 | |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 108 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Term Loan | 108 | 0 | |
Financing Receivable, Revolving | 27 | 0 | |
Loans | $ 135 | $ 0 |
Note 3 - Loans and Allowance _8
Note 3 - Loans and Allowance for Credit Losses - Activity in Allowance for Loan Losses and the Recorded Investments in Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance | $ 49,914 | $ 42,246 |
Financing Receivable, Credit Loss, Expense (Reversal) | 1,300 | 600 |
Charge-offs | (15) | (106) |
Recoveries | 439 | 137 |
Balance | 51,638 | 42,877 |
Revision of Prior Period, Adjustment [Member] | ||
Balance | 0 | |
Revision of Prior Period, After Reclassification [Member] | ||
Balance | 42,246 | |
Commercial Portfolio Segment [Member] | ||
Charge-offs | (6) | (50) |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Balance | 7,441 | 10,203 |
Financing Receivable, Credit Loss, Expense (Reversal) | 1,466 | (757) |
Charge-offs | (6) | (36) |
Recoveries | 277 | 21 |
Balance | 9,178 | 9,521 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Revision of Prior Period, Adjustment [Member] | ||
Balance | 90 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Revision of Prior Period, After Reclassification [Member] | ||
Balance | 10,293 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Balance | 384 | 490 |
Financing Receivable, Credit Loss, Expense (Reversal) | 2 | (41) |
Charge-offs | 0 | 0 |
Recoveries | 1 | 1 |
Balance | 387 | 450 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Revision of Prior Period, Adjustment [Member] | ||
Balance | 0 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Revision of Prior Period, After Reclassification [Member] | ||
Balance | 490 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Balance | 7,186 | 5,914 |
Financing Receivable, Credit Loss, Expense (Reversal) | (151) | (28) |
Charge-offs | 0 | (14) |
Recoveries | 57 | 48 |
Balance | 7,092 | 5,920 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Revision of Prior Period, Adjustment [Member] | ||
Balance | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Revision of Prior Period, After Reclassification [Member] | ||
Balance | 5,914 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Balance | 9,852 | 9,242 |
Financing Receivable, Credit Loss, Expense (Reversal) | 289 | (115) |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Balance | 10,141 | 9,127 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Revision of Prior Period, Adjustment [Member] | ||
Balance | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Revision of Prior Period, After Reclassification [Member] | ||
Balance | 9,242 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Balance | 3,184 | 2,191 |
Financing Receivable, Credit Loss, Expense (Reversal) | 232 | 313 |
Charge-offs | 0 | 0 |
Recoveries | 4 | 7 |
Balance | 3,420 | 2,511 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Revision of Prior Period, Adjustment [Member] | ||
Balance | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Revision of Prior Period, After Reclassification [Member] | ||
Balance | 2,191 | |
Retail Portfolio Segment [Member] | ||
Charge-offs | (9) | (56) |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Balance | 18,986 | 14,027 |
Financing Receivable, Credit Loss, Expense (Reversal) | (476) | 1,168 |
Charge-offs | 0 | (42) |
Recoveries | 70 | 41 |
Balance | 18,580 | 14,497 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Revision of Prior Period, Adjustment [Member] | ||
Balance | (697) | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Revision of Prior Period, After Reclassification [Member] | ||
Balance | 13,330 | |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | ||
Balance | 2,881 | 160 |
Financing Receivable, Credit Loss, Expense (Reversal) | (77) | 3 |
Charge-offs | (9) | (14) |
Recoveries | 30 | 19 |
Balance | 2,825 | 775 |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | Revision of Prior Period, Adjustment [Member] | ||
Balance | 607 | |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | Revision of Prior Period, After Reclassification [Member] | ||
Balance | 767 | |
Unallocated Financing Receivables [Member] | ||
Balance | 0 | 19 |
Financing Receivable, Credit Loss, Expense (Reversal) | 15 | 57 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Balance | $ 15 | 76 |
Unallocated Financing Receivables [Member] | Revision of Prior Period, Adjustment [Member] | ||
Balance | 0 | |
Unallocated Financing Receivables [Member] | Revision of Prior Period, After Reclassification [Member] | ||
Balance | $ 19 |
Note 3 - Loans and Allowance _9
Note 3 - Loans and Allowance for Credit Losses - Financial Effect by Type of Modification (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Contractual Interest Rate Reduction [Member] | |
Modified in period | $ 0 |
Contractual Interest Rate Reduction [Member] | Commercial Portfolio Segment [Member] | |
Modified in period | 0 |
Contractual Interest Rate Reduction [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Modified in period | 0 |
Contractual Interest Rate Reduction [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |
Modified in period | 0 |
Contractual Interest Rate Reduction [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |
Modified in period | 0 |
Contractual Interest Rate Reduction [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |
Modified in period | 0 |
Contractual Interest Rate Reduction [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |
Modified in period | 0 |
Contractual Interest Rate Reduction [Member] | Retail Portfolio Segment [Member] | |
Modified in period | 0 |
Contractual Interest Rate Reduction [Member] | Retail Portfolio Segment [Member] | Loans Categorized as 1-4 Family Mortgages [Member] | |
Modified in period | 0 |
Contractual Interest Rate Reduction [Member] | Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | |
Modified in period | 0 |
Extended Maturity [Member] | |
Modified in period | 500 |
Extended Maturity [Member] | Commercial Portfolio Segment [Member] | |
Modified in period | 500 |
Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Modified in period | 500 |
Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |
Modified in period | 0 |
Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |
Modified in period | 0 |
Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |
Modified in period | 0 |
Extended Maturity [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |
Modified in period | 0 |
Extended Maturity [Member] | Retail Portfolio Segment [Member] | |
Modified in period | 0 |
Extended Maturity [Member] | Retail Portfolio Segment [Member] | Loans Categorized as 1-4 Family Mortgages [Member] | |
Modified in period | 0 |
Extended Maturity [Member] | Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | Commercial Portfolio Segment [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | Retail Portfolio Segment [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | Retail Portfolio Segment [Member] | Loans Categorized as 1-4 Family Mortgages [Member] | |
Modified in period | 0 |
Principal Forgiveness [Member] | Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | |
Modified in period | $ 0 |
Note 3 - Loans and Allowance_10
Note 3 - Loans and Allowance for Credit Losses - Amortized Cost of Modified Loans (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
Modified | $ 29,284 |
Financial Asset, Not Past Due [Member] | |
Modified | 29,284 |
Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | |
Modified | 29,284 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |
Modified | 29,284 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Modified | 18,506 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Not Past Due [Member] | |
Modified | 18,506 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Financial Asset, Not Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Financial Asset, Not Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |
Modified | 10,778 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Financial Asset, Not Past Due [Member] | |
Modified | 10,778 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Financial Asset, Not Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Financial Asset, Not Past Due [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, Not Past Due [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified | 0 |
Retail Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified | $ 0 |
Note 4 - Premises and Equipme_3
Note 4 - Premises and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Assets [Abstract] | |||
Other Assets | $ 127,459 | $ 125,566 | |
Liabilities [Abstract] | |||
Accrued Liabilities | 106,926 | 93,902 | |
Depreciation | $ 1,600 | $ 1,500 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 9 years 7 months 6 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 6.50% | ||
Operating Lease, Right-of-Use Asset | $ 4,700 | $ 3,700 | |
Operating Lease, Expense | $ 400 | $ 300 | |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets | |
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Accrued Liabilities | Accrued Liabilities | |
Operating Lease, Liability | $ 4,676 | $ 3,700 | |
Minimum [Member] | |||
Lessee, Operating Lease, Renewal Term (Year) | 3 years | ||
Maximum [Member] | |||
Lessee, Operating Lease, Renewal Term (Year) | 5 years |
Note 4 - Premises and Equipme_4
Note 4 - Premises and Equipment, Net - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Property, plant and equipment, gross | $ 96,091 | $ 94,717 |
Less: accumulated depreciation | 45,256 | 43,789 |
Premises and equipment, net | 50,835 | 50,928 |
Land and Land Improvements [Member] | ||
Property, plant and equipment, gross | 12,782 | 12,782 |
Building [Member] | ||
Property, plant and equipment, gross | 57,881 | 56,778 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | $ 25,428 | $ 25,157 |
Note 4 - Premises and Equipme_5
Note 4 - Premises and Equipment, Net - Future Lease Payments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
2024 | $ 920 | |
2025 | 1,010 | |
2026 | 950 | |
2027 | 878 | |
2028 | 697 | |
Thereafter | 1,519 | |
Total undiscounted lease payments | 5,974 | |
Less effect of discounting | (1,298) | |
Present value of future lease payments (lease liability) | $ 4,676 | $ 3,700 |
Note 5 - Deposits (Details Text
Note 5 - Deposits (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Deposits | $ 4,007,810 | $ 3,900,918 |
Increase (Decrease) in Deposits | $ 107,000 | |
Aggregate Increase (Decrease) in Percentage of Deposits | 2.70% |
Note 5 - Deposits - Summary of
Note 5 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Noninterest-bearing | $ 1,134,995 | $ 1,247,640 |
Noninterest-bearing demand, percentage | 28.30% | 32.10% |
Noninterest-bearing demand, percent increase (decrease) | (9.00%) | |
Interest-bearing checking | $ 622,287 | $ 635,790 |
Interest-bearing checking, percentage | 15.50% | 16.30% |
Interest-bearing checking, percent increase (decrease) | (2.10%) | |
Money market | $ 1,137,877 | $ 957,434 |
Money market, percentage | 28.40% | 24.50% |
Money market, percent increase (decrease) | 18.80% | |
Savings | $ 259,556 | $ 262,566 |
Savings, percentage | 6.50% | 6.70% |
Savings, percent increase (decrease) | (1.10%) | |
Local Time, under $100,000 | $ 187,249 | $ 175,741 |
Local Time, under $100,000, percentage | 4.70% | 4.50% |
Local Time, under $100,000, percent increase (decrease) | 6.50% | |
Local Time, $100,000 and over | $ 492,734 | $ 453,366 |
Local Time, $100,000 and over, percentage | 12.30% | 11.60% |
Local Time, $100,000 and over, percent increase (decrease) | 8.70% | |
Total local deposits | $ 3,834,698 | $ 3,732,537 |
Total local deposits, percentage | 95.70% | 95.70% |
Total local deposits | 2.70% | |
Out-of-area time, $100,000 and over | $ 173,112 | $ 168,381 |
Out-of-area time, $100,000 and over, percentage | 4.30% | 4.30% |
Out-of-area time, $100,000 and over, percent increase (decrease) | 2.80% | |
Total deposits | $ 4,007,810 | $ 3,900,918 |
Total deposits, percentage | 100% | 100% |
Total deposits, percent increase (decrease) | 2.70% |
Note 6 - Securities Sold Unde_3
Note 6 - Securities Sold Under Agreements to Repurchase (Details Textual) | 3 Months Ended |
Mar. 31, 2024 | |
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements (Day) | 1 day |
Note 6 - Securities Sold Unde_4
Note 6 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreement to Repurchase (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Securities sold under agreements to repurchase | $ 228,618 | $ 229,734 |
Average daily balance during the period | 216,674 | 204,334 |
Maximum daily balance during the period | $ 247,056 | $ 269,324 |
Securities Sold under Agreements to Repurchase [Member] | ||
Average interest rate at end of period | 3.30% | 3.17% |
Average interest rate during the period | 3.06% | 1.33% |
Note 7 - Federal Home Loan Ba_3
Note 7 - Federal Home Loan Bank of Indianapolis Advances (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Long-Term Federal Home Loan Bank Advances | $ 447,083 | $ 467,910 |
Line of Credit Facility, Maximum Borrowing Capacity | 908,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | 464,000 | |
Federal Home Loan Bank of Indianapolis [Member] | Bullet Advances [member] | ||
Long-Term Federal Home Loan Bank Advances | $ 420,000 | $ 440,000 |
Federal Home Loan Bank of Indianapolis [Member] | Bullet Advances [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] | Bullet Advances [member] | Maximum [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 4.54% | 5.05% |
Federal Home Loan Bank of Indianapolis [Member] | Bullet Advances [member] | Weighted Average [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 2.96% | 2.93% |
Federal Home Loan Bank of Indianapolis [Member] | Amortizing Advances [Member] | ||
Long-Term Federal Home Loan Bank Advances | $ 27,100 | $ 27,900 |
Federal Home Loan Bank of Indianapolis [Member] | Amortizing Advances [Member] | Weighted Average [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 2.52% | 2.52% |
Note 7 - Federal Home Loan Ba_4
Note 7 - Federal Home Loan Bank of Indianapolis Advances - Maturities of Currently Outstanding FHLB Advances (Details) - Bullet Advances [member] - Federal Home Loan Bank of Indianapolis [Member] $ in Millions | Mar. 31, 2024 USD ($) |
2024 | $ 60 |
2025 | 80 |
2026 | 80 |
2027 | 100 |
2028 | 90 |
Thereafter | $ 10 |
Note 7 - Federal Home Loan Ba_5
Note 7 - Federal Home Loan Bank of Indianapolis Advances - Maturities of Currently Outstanding FHLBI Amortizing Advances (Details) - Federal Home Loan Bank of Indianapolis [Member] - Amortizing Advances [Member] $ in Thousands | Mar. 31, 2024 USD ($) |
2024 | $ 0 |
2025 | 826 |
2026 | 862 |
2027 | 899 |
2028 | 938 |
Thereafter | $ 23,558 |
Note 8 - Commitments and Off-_3
Note 8 - Commitments and Off-balance Sheet Risk (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Financing Receivable, Allowance for Credit Loss | $ 51,638 | $ 49,914 | $ 42,877 | $ 42,246 |
Retail and Commercial Lines of Credit and Credit Card Receivables [Member] | ||||
Financing Receivable, Allowance for Credit Loss | $ 800 | $ 1,300 |
Note 8 - Commitments and Off-_4
Note 8 - Commitments and Off-balance Sheet Risk - Exposure to Credit Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Contractual amounts of financial instruments with off-balance sheet risk | $ 2,081,842 | $ 2,113,504 |
Standby Letters of Credit [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 19,540 | 19,393 |
Unused lines of Credit [Member] | Commercial Portfolio Segment [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 1,562,294 | 1,557,429 |
Unused lines of Credit [Member] | One to Four Family Mortgages [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 74,824 | 74,120 |
Unused lines of Credit [Member] | Credit Card Lines of Credit [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 150,098 | 142,096 |
Unused lines of Credit [Member] | Consumer Other Financing Receivable 1 [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 40,140 | 50,063 |
Loan Origination Commitments [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | $ 234,946 | $ 270,403 |
Note 9 - Derivatives and Hedg_3
Note 9 - Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Noninterest Income | $ 10,868 | $ 6,951 | |
Interest Rate Swap [Member] | |||
Noninterest Income | $ 100 | $ 300 |
Note 9 - Derivatives and Hedg_4
Note 9 - Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Assets [Abstract] | ||
Other Assets | $ 127,459 | $ 125,566 |
Liabilities [Abstract] | ||
Accrued Liabilities | $ 106,926 | $ 93,902 |
Derivative Assets, balance sheet location | Other Assets | Other Assets |
Derivative Liabilities balance sheet location | Accrued Liabilities | Accrued Liabilities |
Interest Rate Swap [Member] | ||
Notional Amount | $ 766,564 | $ 676,526 |
Derivative Assets Interest rate swaps | 29,661 | 27,505 |
Derivative Liabilities Interest rate swaps | 30,036 | 27,964 |
Interest Rate Swap Liabilities [Member] | ||
Notional Amount | $ 764,537 | $ 674,499 |
Note 9 - Derivatives and Hedg_5
Note 9 - Derivatives and Hedging Activities - The Netting Arrangement of Derivative Instruments (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Derivative Assets Interest rate swaps | $ 29,661 | $ 27,505 |
Financial instruments, derivative assets | 2,303 | 5,175 |
Cash collaterl, derivative assets | 22,770 | 14,010 |
Net amount, derivative assets | 4,588 | 8,320 |
Derivative Liabilities Interest rate swaps | 30,036 | 27,964 |
Financial instruments, derivative liability | 2,303 | 5,175 |
Cash collaterl, derivative liability | 2,250 | 3,120 |
Net amount, derivative liability | $ 25,483 | $ 19,669 |
Note 10 - Fair Values of Fina_3
Note 10 - Fair Values of Financial Instruments - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Securities available for sale | $ 609,153 | $ 617,092 | |
Loan, Mortgage, Held-for-Sale, Fair Value Disclosure | 14,600 | 19,000 | |
Interest Rate Swap [Member] | |||
Interest rate swaps | 29,661 | 27,505 | |
Interest rate swaps | 30,036 | 27,964 | |
Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 0 | 0 | |
Reported Value Measurement [Member] | |||
Securities available for sale | [1] | 609,153 | 617,092 |
FHLBI stock | [2] | 21,513 | 21,513 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 237,231 | 130,533 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Loans, net | 4,270,368 | 4,253,844 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Loan, Mortgage, Held-for-Sale, Fair Value Disclosure | 14,393 | 18,607 | |
Accrued interest receivable | 21,681 | 19,806 | |
Deposits | 4,007,810 | 3,900,918 | |
Securities sold under agreements to repurchase | 228,618 | 229,734 | |
FHLBI advances | 447,083 | 467,910 | |
Accrued interest payable | 10,107 | 9,012 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Subordinated Debentures [Member] | |||
Subordinated debt | 49,815 | 49,644 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Subordinated Notes [Member] | |||
Subordinated debt | 89,057 | 88,971 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | |||
Interest rate swaps | 29,661 | 27,505 | |
Interest rate swaps | 30,036 | 27,964 | |
Estimate of Fair Value Measurement [Member] | |||
Securities available for sale | [1] | 609,153 | 617,092 |
FHLBI stock | [2] | 21,513 | 21,513 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 237,231 | 130,533 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Loans, net | 4,243,647 | 4,191,644 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Loan, Mortgage, Held-for-Sale, Fair Value Disclosure | 14,603 | 19,027 | |
Accrued interest receivable | 21,681 | 19,806 | |
Deposits | 3,900,366 | 3,814,778 | |
Securities sold under agreements to repurchase | 228,618 | 229,734 | |
FHLBI advances | 430,397 | 454,857 | |
Accrued interest payable | 10,107 | 9,012 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Subordinated Debentures [Member] | |||
Subordinated debt | 49,824 | 49,653 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Subordinated Notes [Member] | |||
Subordinated debt | 78,131 | 77,218 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | |||
Interest rate swaps | 29,661 | 27,505 | |
Interest rate swaps | $ 30,036 | $ 27,964 | |
[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 ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Debt Securities, Available-for-Sale | $ 609,153 | $ 617,092 |
Loan, Mortgage, Held-for-Sale, Fair Value Disclosure | $ 14,600 | 19,000 |
Real Estate Dependent Loans and Foreclosed Assets Estimated Selling Costs [Member] | ||
Fair Value Inputs, Discount Factor | 10% | |
Maximum [Member] | Real Estate Dependent Loans and Foreclosed Assets [Member] | Commercial Real Estate [Member] | ||
Fair Value Inputs, Discount Factor | 35% | |
Maximum [Member] | Real Estate Dependent Loans and Foreclosed Assets [Member] | Residential Real Estate [Member] | ||
Fair Value Inputs, Discount Factor | 50% | |
Minimum [Member] | Real Estate Dependent Loans and Foreclosed Assets [Member] | Commercial Real Estate [Member] | ||
Fair Value Inputs, Discount Factor | 25% | |
Minimum [Member] | Real Estate Dependent Loans and Foreclosed Assets [Member] | Residential Real Estate [Member] | ||
Fair Value Inputs, Discount Factor | 25% | |
Municipal General Obligation Bonds [Member] | ||
Debt Securities, Available-for-Sale | $ 166,632 | 167,860 |
Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Municipal General Obligation Bonds [Member] | Maximum [Member] | ||
Debt Securities, Available-for-Sale, Decrease Due to Scheduled Maturities | 100 | |
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 ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Debt Securities, Available-for-Sale | $ 609,153 | $ 617,092 |
Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 385,709 | 390,496 |
Collateralized Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 27,782 | 29,473 |
Municipal General Obligation Bonds [Member] | ||
Debt Securities, Available-for-Sale | 166,632 | 167,860 |
Municipal Revenue Bonds [Member] | ||
Debt Securities, Available-for-Sale | 28,530 | 28,763 |
Other Debt and Equity Securities [Member] | ||
Debt Securities, Available-for-Sale | 500 | 500 |
Fair Value, Recurring [Member] | ||
Total assets | 638,814 | 644,597 |
Total liabilities | 30,036 | 27,964 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 638,308 | 644,084 |
Total liabilities | 30,036 | 27,964 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets | 506 | 513 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 385,709 | 390,496 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-Sale | 385,709 | 390,496 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 27,782 | 29,473 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-Sale | 27,782 | 29,473 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | ||
Debt Securities, Available-for-Sale | 166,632 | 167,860 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-Sale | 166,126 | 167,347 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-Sale | 506 | 513 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | ||
Debt Securities, Available-for-Sale | 28,530 | 28,763 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-Sale | 28,530 | 28,763 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | ||
Debt Securities, Available-for-Sale | 500 | 500 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-Sale | 500 | 500 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | ||
Interest rate swaps | 29,661 | 27,505 |
Interest rate swaps | 30,036 | 27,964 |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Interest rate swaps | 0 | 0 |
Interest rate swaps | 0 | 0 |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Interest rate swaps | 29,661 | 27,505 |
Interest rate swaps | 30,036 | 27,964 |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Interest rate swaps | 0 | 0 |
Interest rate swaps | $ 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 ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Collateral dependent loans | $ 1,573 | $ 1,434 |
Foreclosed assets | 200 | 200 |
Total | 1,773 | 1,634 |
Fair Value, Inputs, Level 1 [Member] | ||
Collateral dependent loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Collateral dependent loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Collateral dependent loans | 1,573 | 1,434 |
Foreclosed assets | 200 | 200 |
Total | $ 1,773 | $ 1,634 |
Note 12 - Regulatory Matters (D
Note 12 - Regulatory Matters (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | ||||||
Mar. 13, 2024 | Jan. 11, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | May 31, 2021 | Dec. 31, 2009 | |
Preferred Securities of Subsidiary Trust | $ 47.7 | $ 47.6 | |||||
Maximum Restricted Core Element Allowed in Tier One Capital Percent | 25% | ||||||
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 | $ 47.7 | $ 47.6 | |||||
Capital Conservation Buffer | 2.50% | ||||||
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy to Risk Weighted Assets | 0.07 | ||||||
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) | $ 0.35 | ||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 6.8 | ||||||
Stock Repurchase Program, Authorized Amount | $ 20 | ||||||
Stock Repurchased During Period, Shares (in shares) | 0 | ||||||
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.35 | $ 0.35 | $ 0.32 |
Note 12 - Regulatory Matters -
Note 12 - Regulatory Matters - Actual Capital Levels and Minimum Levels (Details) $ in Thousands | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) |
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 | 0.07 | |
Consolidated Entities [Member] | ||
Total capital, amount | $ 729,410 | $ 710,905 |
Total capital, ratio | 0.141 | 0.137 |
Total capital minimum required for capital adequacy, amount | $ 415,299 | $ 415,841 |
Total capital minimum required for capital adequacy, ratio | 0.08 | 0.08 |
Tier 1 capital, amount | $ 587,888 | $ 570,730 |
Tier 1 capital, ratio | 0.113 | 0.11 |
Tier 1 capital minimum required for capital adequacy, amount | $ 311,474 | $ 311,881 |
Tier 1 capital minimum required for capital adequacy, ratio | 0.06 | 0.06 |
Common equity tier 1, amount | $ 540,147 | $ 523,160 |
Common equity tier 1, ratio | 0.104 | 0.101 |
Common equity tier 1 minimum required for capital adequacy, amount | $ 233,606 | $ 233,911 |
Common equity tier 1 capital minimum required for capital adequacy, ratio | 0.045 | 0.045 |
Tier 1 capital to average assets, amount | $ 587,888 | $ 570,730 |
Tier 1 capital to average assets, ratio | 0.109 | 0.108 |
Tier 1 capital to average assets, minimum required for capital adequacy, amount | $ 216,108 | $ 210,527 |
Tier 1 capital to average assets minimum required for capital adequacy, ratio | 0.04 | 0.04 |
Bank [Member] | ||
Total capital, amount | $ 712,688 | $ 694,431 |
Total capital, ratio | 0.138 | 0.134 |
Total capital minimum required for capital adequacy, amount | $ 413,264 | $ 414,019 |
Total capital minimum required for capital adequacy, ratio | 0.08 | 0.08 |
Total capital to be well capitalized, amount | $ 516,580 | $ 517,524 |
Total capital to be well capitalized, ratio | 0.10 | 0.10 |
Tier 1 capital, amount | $ 660,223 | $ 643,227 |
Tier 1 capital, ratio | 0.128 | 0.124 |
Tier 1 capital minimum required for capital adequacy, amount | $ 309,948 | $ 310,514 |
Tier 1 capital minimum required for capital adequacy, ratio | 0.06 | 0.06 |
Tier 1 capital to be well capitalized, amount | $ 413,264 | $ 414,019 |
Tier 1 capital to be well capitalized, ratio | 0.08 | 0.08 |
Common equity tier 1, amount | $ 660,223 | $ 643,227 |
Common equity tier 1, ratio | 0.128 | 0.124 |
Common equity tier 1 minimum required for capital adequacy, amount | $ 232,461 | $ 232,886 |
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 | $ 335,777 | $ 336,391 |
Common equity tier 1 capital to be well capitalized, ratio | 0.065 | 0.065 |
Tier 1 capital to average assets, amount | $ 660,223 | $ 643,227 |
Tier 1 capital to average assets, ratio | 0.123 | 0.122 |
Tier 1 capital to average assets, minimum required for capital adequacy, amount | $ 215,092 | $ 210,427 |
Tier 1 capital to average assets minimum required for capital adequacy, ratio | 0.04 | 0.04 |
Tier 1 capital to average assets to be well capitalized, amount | $ 268,865 | $ 263,034 |
Tier 1 capital to average assets to be well capitalized, ratio | 0.05 | 0.05 |
Note 13 - Subsequent Events (De
Note 13 - Subsequent Events (Details Textual) - $ / shares | Apr. 11, 2024 | Jan. 11, 2024 |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.35 | |
Subsequent Event [Member] | ||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.35 | |
Dividends Payable, Date Declared | Apr. 11, 2024 | |
Dividends Payable, Date to be Paid | Jun. 19, 2024 | |
Dividends Payable, Date of Record | Jun. 07, 2024 |