Cover Page
Cover Page - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 01, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 000-29480 | |
Entity Registrant Name | HERITAGE FINANCIAL CORP | |
Entity Incorporation, State or Country Code | WA | |
Entity Tax Identification Number | 91-1857900 | |
Entity Address, Address Line One | 201 Fifth Avenue SW, | |
Entity Address, City or Town | Olympia | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 98501 | |
City Area Code | 360 | |
Local Phone Number | 943-1500 | |
Title of 12(b) Security | Common stock, no par value | |
Trading Symbol | HFWA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 35,103,929 | |
Entity Central Index Key | 0001046025 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash on hand and in banks | $ 93,675 | $ 61,377 |
Interest earning deposits | 900,380 | 1,661,915 |
Cash and cash equivalents | 994,055 | 1,723,292 |
Investment securities available for sale, at fair value, net (amortized cost of $1,267,715 and $883,832, respectively) | 1,187,588 | 894,335 |
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 615,653 | 383,393 |
Total investment securities | 1,803,241 | 1,277,728 |
Loans held for sale | 1,311 | 1,476 |
Loans receivable | 3,874,064 | 3,815,662 |
Allowance for credit losses on loans | (39,696) | (42,361) |
Loans receivable, net | 3,834,368 | 3,773,301 |
Premises and equipment, net | 77,164 | 79,370 |
Federal Home Loan Bank stock, at cost | 8,916 | 7,933 |
Bank owned life insurance | 120,646 | 120,196 |
Accrued interest receivable | 15,908 | 14,657 |
Prepaid expenses and other assets | 211,350 | 183,543 |
Other intangible assets, net | 8,569 | 9,977 |
Goodwill | 240,939 | 240,939 |
Total assets | 7,316,467 | 7,432,412 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Deposits | 6,330,190 | 6,394,290 |
Junior subordinated debentures | 21,326 | 21,180 |
Securities sold under agreement to repurchase | 41,827 | 50,839 |
Accrued expenses and other liabilities | 117,758 | 111,671 |
Total liabilities | 6,511,101 | 6,577,980 |
Stockholders’ equity: | ||
Preferred stock, no par value, 2,500,000 shares authorized; no shares issued and outstanding, respectively | 0 | 0 |
Common stock, no par value, 50,000,000 shares authorized; 35,103,929 and 35,105,779 shares issued and outstanding, respectively | 550,417 | 551,798 |
Retained earnings | 316,732 | 293,238 |
Accumulated other comprehensive (loss) income, net | (61,783) | 9,396 |
Total stockholders’ equity | 805,366 | 854,432 |
Total liabilities and stockholders’ equity | $ 7,316,467 | $ 7,432,412 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Amortized cost | $ 1,267,715,000 | |
Total investment securities | $ 559,312,000 | $ 376,331,000 |
Preferred Stock, No Par Value | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 2,500,000 | 2,500,000 |
Preferred Stock, Value, Outstanding | $ 0 | $ 0 |
Common stock, no par value (in usd per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 35,103,929 | 35,105,779 |
Common stock, shares outstanding (in shares) | 35,103,929 | 35,105,779 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
INTEREST INCOME: | ||||
Interest and fees on loans | $ 40,890 | $ 50,750 | $ 81,915 | $ 100,274 |
Taxable interest on investment securities | 7,607 | 4,050 | 13,610 | 7,584 |
Nontaxable interest on investment securities | 893 | 947 | 1,753 | 1,905 |
Interest on interest earning deposits | 2,342 | 263 | 3,048 | 438 |
Total interest income | 51,732 | 56,010 | 100,326 | 110,201 |
INTEREST EXPENSE: | ||||
Deposits | 1,413 | 1,524 | 2,837 | 3,252 |
Junior subordinated debentures | 239 | 186 | 433 | 373 |
Other borrowings | 32 | 35 | 64 | 73 |
Total interest expense | 1,684 | 1,745 | 3,334 | 3,698 |
Net interest income | 50,048 | 54,265 | 96,992 | 106,503 |
Reversal of provision for credit losses | (1,204) | (13,987) | (4,781) | (21,186) |
Net interest income after reversal of provision for credit losses | 51,252 | 68,252 | 101,773 | 127,689 |
NONINTEREST INCOME: | ||||
Service charges and other fees | 2,391 | 2,067 | 4,687 | 3,959 |
Card revenue | 2,332 | 2,338 | 4,773 | 4,435 |
Gain on sale of investment securities, net | 0 | 0 | 0 | 29 |
Gain on sale of loans, net | 219 | 1,003 | 460 | 2,373 |
Interest rate swap fees | 26 | 209 | 305 | 361 |
Bank owned life insurance income | 764 | 717 | 2,459 | 1,373 |
Gain on sale of other assets, net | 0 | 724 | 204 | 746 |
Other income | 1,284 | 1,239 | 2,666 | 3,272 |
Total noninterest income | 7,016 | 8,297 | 15,554 | 16,548 |
NONINTEREST EXPENSE: | ||||
Compensation and employee benefits | 21,778 | 21,803 | 43,030 | 44,004 |
Occupancy and equipment | 4,171 | 4,091 | 8,502 | 8,545 |
Data processing | 4,185 | 3,998 | 8,246 | 7,810 |
Marketing | 344 | 567 | 610 | 1,080 |
Professional services | 529 | 1,037 | 1,228 | 2,307 |
State/municipal business and use taxes | 867 | 991 | 1,663 | 1,963 |
Federal deposit insurance premium | 425 | 339 | 1,025 | 928 |
Amortization of intangible assets | 704 | 797 | 1,408 | 1,594 |
Other expense | 2,704 | 2,773 | 5,715 | 5,407 |
Total noninterest expense | 35,707 | 36,396 | 71,427 | 73,638 |
Income before income taxes | 22,561 | 40,153 | 45,900 | 70,599 |
Income tax expense | 3,977 | 7,451 | 7,559 | 12,553 |
Net income | $ 18,584 | $ 32,702 | $ 38,341 | $ 58,046 |
Basic earnings per common share (in usd per share) | $ 0.53 | $ 0.91 | $ 1.09 | $ 1.61 |
Diluted earnings per common share (in usd per share) | 0.52 | 0.90 | 1.08 | 1.60 |
Dividends declared per common share (in usd per share) | $ 0.21 | $ 0.20 | $ 0.42 | $ 0.40 |
Basic weighted average common shares outstanding (in shares) | 35,110,334 | 35,994,740 | 35,102,572 | 35,961,032 |
Weighted Average Number of Shares Outstanding, Diluted | 35,409,524 | 36,289,464 | 35,412,722 | 36,268,861 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net Income | $ 18,584 | $ 32,702 | $ 38,341 | $ 58,046 |
Other comprehensive (loss) income | (27,555) | 2,600 | (71,179) | (8,957) |
Comprehensive (loss) income | (8,971) | 35,302 | (32,838) | 49,089 |
AOCI Attributable to Parent [Member] | ||||
Change in fair value of investment securities available for sale, net of tax of $(7,638), $722, $(19,751) and $(2,482), respectively | (27,397) | 2,600 | (70,879) | (8,934) |
Amortization of net unrealized gain for the reclassification of investment securities available for sale to held to maturity, net of tax of $(44), $0, $(83) and $0, respectively | (158) | 0 | (300) | 0 |
Reclassification adjustment for net gain from sale of investment securities available for sale included in income, net of tax of $0, $0, $0 and $(6), respectively | 0 | 0 | 0 | (23) |
Other comprehensive (loss) income | $ (27,555) | $ 2,600 | $ (71,179) | $ (8,957) |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Change in fair value of securities available for sale, tax | $ (7,638) | $ 722 | $ (19,751) | $ (2,482) |
OCI, Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Adjustment from AOCI for Amortization of Gain (Loss), Tax | (44) | 0 | (83) | 0 |
Reclassification adjustment of net gain from sale of investment securities included in income, tax | $ 0 | $ 0 | $ 0 | $ (6) |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common stock | Retained earnings | Accumulated other comprehensive income (loss), net |
Beginning balance, shares at Dec. 31, 2020 | 35,912,243,000 | |||
Beginning balance at Dec. 31, 2020 | $ 820,439 | $ 571,021 | $ 224,400 | $ 25,018 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Restricted stock awards forfeited, shares | 120,120,000 | |||
Stock-based compensation expense | 1,796 | $ 1,796 | ||
Common stock repurchased, shares | (25,803,000) | |||
Common stock repurchased | (757) | $ (757) | ||
Net income | 58,046 | 58,046 | ||
Other comprehensive income (loss), net of tax | (8,957) | (8,957) | ||
Cash dividends declared on common stock | (14,583) | (14,583) | ||
Ending balance, shares at Jun. 30, 2021 | 36,006,560,000 | |||
Ending balance at Jun. 30, 2021 | 855,984 | $ 572,060 | 267,863 | 16,061 |
Beginning balance, shares at Mar. 31, 2021 | 35,981,317,000 | |||
Beginning balance at Mar. 31, 2021 | 827,151 | $ 571,204 | 242,486 | 13,461 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Restricted stock awards forfeited, shares | 27,800,000 | |||
Stock-based compensation expense | 926 | $ 926 | ||
Common stock repurchased, shares | (2,557,000) | |||
Common stock repurchased | (70) | $ (70) | ||
Net income | 32,702 | 32,702 | ||
Other comprehensive income (loss), net of tax | 2,600 | 2,600 | ||
Cash dividends declared on common stock | (7,325) | (7,325) | ||
Ending balance, shares at Jun. 30, 2021 | 36,006,560,000 | |||
Ending balance at Jun. 30, 2021 | 855,984 | $ 572,060 | 267,863 | 16,061 |
Beginning balance, shares at Dec. 31, 2021 | 35,105,779,000 | |||
Beginning balance at Dec. 31, 2021 | 854,432 | $ 551,798 | 293,238 | 9,396 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Restricted stock awards forfeited, shares | 124,420,000 | |||
Stock-based compensation expense | 1,793 | $ 1,793 | ||
Common stock repurchased, shares | (126,270,000) | |||
Common stock repurchased | (3,174) | $ (3,174) | ||
Net income | 38,341 | 38,341 | ||
Other comprehensive income (loss), net of tax | (71,179) | (71,179) | ||
Cash dividends declared on common stock | (14,847) | (14,847) | ||
Ending balance, shares at Jun. 30, 2022 | 35,103,929,000 | |||
Ending balance at Jun. 30, 2022 | 805,366 | $ 550,417 | 316,732 | (61,783) |
Beginning balance, shares at Mar. 31, 2022 | 35,102,372,000 | |||
Beginning balance at Mar. 31, 2022 | 821,449 | $ 550,096 | 305,581 | (34,228) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Restricted stock awards forfeited, shares | 22,737,000 | |||
Exercise of stock options, shares | (21,180,000) | |||
Exercise of stock options | (522) | $ (522) | ||
Stock-based compensation expense | 843 | $ 843 | ||
Net income | 18,584 | 18,584 | ||
Other comprehensive income (loss), net of tax | (27,555) | (27,555) | ||
Cash dividends declared on common stock | (7,433) | (7,433) | ||
Ending balance, shares at Jun. 30, 2022 | 35,103,929,000 | |||
Ending balance at Jun. 30, 2022 | $ 805,366 | $ 550,417 | $ 316,732 | $ (61,783) |
Condensed Consolidated Statem_7
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||||||||
Apr. 20, 2022 | Jan. 26, 2022 | Oct. 20, 2021 | Jul. 21, 2021 | Apr. 21, 2021 | Jan. 27, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Statement of Stockholders' Equity [Abstract] | ||||||||||
Cash dividends declared on common stock (in usd per share) | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.21 | $ 0.20 | $ 0.42 | $ 0.40 |
Condensed Consolidated Statem_8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 38,341 | $ 58,046 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion | (1,654) | (13,901) |
Reversal of provision for credit losses | (4,781) | (21,186) |
Stock-based compensation expense | 1,793 | 1,796 |
Amortization of intangible assets | 1,408 | 1,594 |
Origination of mortgage loans held for sale | (12,396) | (53,807) |
Proceeds from sale of mortgage loans held for sale | 13,021 | 58,373 |
Bank owned life insurance income | (2,459) | (1,373) |
Valuation adjustment on interest rate swaps | (64) | (254) |
Gain on sale of mortgage loans held for sale, net | (460) | (2,373) |
Gain on sale of investment securities, net | 0 | (29) |
Gain on sale of assets held for sale | (204) | (746) |
Other | 1,360 | 3,630 |
Net cash provided by operating activities | 33,905 | 29,770 |
Cash flows from investing activities: | ||
Loan originations and purchases, net of payments | (51,198) | 295,618 |
Maturities and repayments of investment securities available for sale | 86,678 | 126,669 |
Maturities and repayments of investment securities held to maturity | 11,767 | 0 |
Purchase of investment securities available for sale | (472,361) | (388,636) |
Purchase of investment securities held to maturity | (244,911) | 0 |
Purchase of premises and equipment | (1,191) | (1,748) |
Purchases of bank owned life insurance | (105) | (105) |
Purchases of Federal Home Loan Bank stock | (985) | (1,272) |
Proceeds from sales of investment securities available for sale | 0 | 1,248 |
Proceeds from redemption of Federal Home Loan Bank stock | 2 | 0 |
Proceeds from sales of assets held for sale | 1,173 | 3,730 |
Proceeds from sales of premises and equipment | 0 | 10 |
Capital contributions to low-income housing tax credit partnerships | (978) | (12,637) |
Cash received from return of New Market Tax Credit equity method investment | 0 | 9,642 |
Net cash (used) provided by investing activities | (672,109) | 32,519 |
Cash flows from financing activities: | ||
Net (decrease) increase in deposits | (64,100) | 463,716 |
Federal Home Loan Bank advances | 50 | 10 |
Repayment of Federal Home Loan Bank advances | (50) | (10) |
Common stock cash dividends paid | (14,747) | (14,383) |
Net (decrease) increase in securities sold under agreement to repurchase | (9,012) | 10,746 |
Repurchase of common stock | (3,174) | (757) |
Net cash (used) provided by financing activities | (91,033) | 459,322 |
Net (decrease) increase in cash and cash equivalents | (729,237) | 521,611 |
Cash and cash equivalents at beginning of period | 1,723,292 | 743,322 |
Cash and cash equivalents at end of period | 994,055 | 1,264,933 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 3,188 | 3,571 |
Cash paid for income taxes, net of refunds | 167 | 7,967 |
Investment in LIHTC partnership and related funding commitment | 11,284 | 0 |
Right of use assets obtained in exchange for new operating lease liabilities | 2,222 | 8,393 |
Transfer of bank owned life insurance to prepaid expenses and other assets due to death benefit accrued | 2,114 | |
Transfers of properties classified as held for sale to prepaid expenses and other assets from premises and equipment, net | 730 | 1,685 |
Loans received from return of New Market Tax Credit equity method investment | $ 0 | $ 15,596 |
Description of Business, Basis
Description of Business, Basis of Presentation and Significant Accounting Policies and Recently Issued Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business, Basis of Presentation and Significant Accounting Policies and Recently Issued Accounting Pronouncements | Description of Business, Basis of Presentation, Significant Accounting Policies and Recently Issued Accounting Pronouncements (a) Description of Business The Company is primarily engaged in the business of planning, directing and coordinating the business activities of its wholly-owned subsidiary, the Bank. The Bank is headquartered in Olympia, Washington and conducts business from its 50 branch offices located throughout Washington State, the greater Portland, Oregon area, and Eugene, Oregon. The Bank’s business consists primarily of commercial lending and deposit relationships with small and medium-sized businesses and their owners in its market areas and attracting deposits from the general public. The Bank also makes real estate construction and land development loans, consumer loans and originates first mortgage loans on residential properties primarily located in its market areas. The Bank's deposits are insured by the FDIC. (b) Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. It is recommended these unaudited Condensed Consolidated Financial Statements and accompanying Notes be read with the audited Consolidated Financial Statements and the accompanying Notes included in the 2021 Annual Form 10-K. In management's opinion, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. To prepare unaudited Condensed Consolidated Financial Statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided. Management believes the judgments, estimates and assumptions used in the preparation of the unaudited Condensed Consolidated Financial Statements are appropriate based on the facts and circumstances at the time. Actual results, however, could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change relate to management's estimate of the ACL on investment securities, management's estimate of the ACL on loans, management's estimate of the ACL on unfunded commitments, management's evaluation of goodwill impairment and management's estimate of the fair value of financial instruments. The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiary, the Bank. All significant intercompany balances and transactions among the Company and the Bank have been eliminated in consolidation. There have been reclassifications in certain prior year amounts in the unaudited Condensed Consolidated Statements of Financial Condition, the unaudited Condensed Consolidated Statements of Income and the unaudited Condensed Consolidated Statements of Cash Flows. Reclassifications had no effect on the prior year's net income or stockholders’ equity. (c) Significant Accounting Policies The significant accounting policies used in preparation of the unaudited Condensed Consolidated Financial Statements are disclosed in greater detail in the 2021 Annual Form 10-K. There have not been any material changes in the Company's significant accounting policies from those contained in the 2021 Annual Form 10-K during the six months ended June 30, 2022. (d) Recently Issued or Adopted Accounting Pronouncements FASB ASU 2020-04 , Reference Rate Reform (Topic 848) , as amended by ASU 2021-01, was issued in March 2020 and provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. The amendments are elective, apply to all entities, and provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The Bank’s interest rate swap-related transactions are the majority of the Company's LIBOR exposure. Effective January 25, 2021, the Company adhered to the Interbank Offered Rate Fallbacks Protocol as published by the International Swaps and Derivatives Association, Inc. and recommended by the Alternative Reference Rates Committee. Additionally, effective January 1, 2022, the Bank is no longer initiating or renewing loans using LIBOR as an index. The Company does not expect this ASU to have a material impact on its business operations and the Consolidated Financial Statements. FASB ASU 2022-02 , Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures , was issued in March 2022. The ASU eliminates the accounting guidance for TDR loans by creditors while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the ASU requires public business entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. These amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, since Heritage previously adopted the amendments in ASU 2016-13, which is commonly referred to as the current expected credit loss methodology, on January 1, 2020. Early adoption is permitted and should be applied prospectively; however, the transition method related to the recognition and |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The Company’s investment policy is designed primarily to provide and maintain liquidity, generate a favorable return on assets without incurring undue interest rate and credit risk, and complement the Bank’s lending activities. There were no investment securities classified as trading at June 30, 2022 or December 31, 2021. (a) Investment Securities by Classification, Type and Maturity The following tables present the amortized cost and fair value of investment securities at the dates indicated and the corresponding amounts of gross unrealized gains and losses, including the corresponding amounts of gross unrealized gains and losses on investment securities available for sale recognized in AOCI: June 30, 2022 Amortized Gross Gross Fair (In thousands) Investment securities available for sale: U.S. government and agency securities $ 68,912 $ — $ (3,244) $ 65,668 Municipal securities 213,402 977 (14,369) 200,010 Residential CMO and MBS 433,903 70 (35,817) 398,156 Commercial CMO and MBS 520,772 466 (27,618) 493,620 Corporate obligations 6,003 — (25) 5,978 Other asset-backed securities 24,723 6 (573) 24,156 Total $ 1,267,715 $ 1,519 $ (81,646) $ 1,187,588 Investment securities held to maturity: U.S. government and agency securities $ 150,960 $ — $ (23,416) $ 127,544 Residential CMO and MBS 159,007 257 (5,774) 153,490 Commercial CMO and MBS 305,686 — (27,408) 278,278 Total $ 615,653 $ 257 $ (56,598) $ 559,312 December 31, 2021 Amortized Gross Gross Fair (In thousands) Investment securities available for sale: U.S. government and agency securities $ 21,494 $ 55 $ (176) $ 21,373 Municipal securities 213,158 8,908 (854) 221,212 Residential CMO and MBS 307,366 2,111 (2,593) 306,884 Commercial CMO and MBS 313,169 3,891 (1,199) 315,861 Corporate obligations 2,007 7 — 2,014 Other asset-backed securities 26,638 369 (16) 26,991 Total $ 883,832 $ 15,341 $ (4,838) $ 894,335 Investment securities held to maturity: U.S. government and agency securities $ 141,011 $ 120 $ (1,768) $ 139,363 Residential CMO and MBS 24,529 — (153) 24,376 Commercial CMO and MBS 217,853 — (5,261) 212,592 Total $ 383,393 $ 120 $ (7,182) $ 376,331 The amortized cost and fair value of investment securities at June 30, 2022, by contractual maturity, are set forth below. Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities Available for Sale Securities Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Due in one year or less $ 8,283 $ 8,306 $ — $ — Due after one year through five years 82,106 80,881 — — Due after five years through ten years 67,161 65,321 83,210 72,516 Due after ten years 130,767 117,148 67,750 55,028 Total investment securities due at a single maturity date 288,317 271,656 150,960 127,544 Mortgage-backed securities (1) 979,398 915,932 464,693 431,768 Total investment securities $ 1,267,715 $ 1,187,588 $ 615,653 $ 559,312 (1) Mortgage-backed securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their payment speed. There were no holdings of investment securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of stockholders’ equity at June 30, 2022 and December 31, 2021. (b) Unrealized Losses on Investment Securities Available for Sale The following tables show the gross unrealized losses and fair value of the Company’s investment securities available for sale for which an ACL on investment securities available for sale has not been recorded, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position at the dates indicated: June 30, 2022 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) U.S. government and agency securities $ 64,200 $ (2,995) $ 1,468 $ (249) $ 65,668 $ (3,244) Municipal securities 106,205 (11,287) 15,712 (3,082) 121,917 (14,369) Residential CMO and MBS 352,074 (32,446) 31,008 (3,371) 383,082 (35,817) Commercial CMO and MBS 406,835 (27,145) 8,711 (473) 415,546 (27,618) Corporate obligations 5,978 (25) — — 5,978 (25) Other asset-backed securities 19,054 (552) 921 (21) 19,975 (573) Total $ 954,346 $ (74,450) $ 57,820 $ (7,196) $ 1,012,166 $ (81,646) December 31, 2021 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) U.S. government and agency securities $ 14,828 $ (176) $ — $ — $ 14,828 $ (176) Municipal securities 29,774 (619) 9,351 (235) 39,125 (854) Residential CMO and MBS 204,039 (2,470) 19,862 (123) 223,901 (2,593) Commercial CMO and MBS 83,283 (1,161) 1,936 (38) 85,219 (1,199) Other asset-backed securities 2,763 (9) 1,118 (7) 3,881 (16) Total $ 334,687 $ (4,435) $ 32,267 $ (403) $ 366,954 $ (4,838) (c) ACL on Investment Securities The Company evaluated investment securities available for sale as of June 30, 2022 and December 31, 2021 and determined that any declines in fair value were attributable to changes in interest rates relative to where these investments fall within the yield curve and individual characteristics. Management monitors published credit ratings for adverse changes for all rated investment securities and none of these securities had a below investment grade credit rating as of both June 30, 2022 and December 31, 2021. In addition, the Company does not intend to sell these securities nor does the Company consider it more likely than not that it will be required to sell these securities before the recovery of the amortized cost basis, which may be upon maturity. Therefore, no ACL on investment securities available for sale was recorded as of June 30, 2022 and December 31, 2021. The Company also evaluated investment securities held to maturity for current expected credit losses as of June 30, 2022 and December 31, 2021. There were no investment securities held to maturity classified as nonaccrual or past due as of June 30, 2022 and December 31, 2021 and all were issued by the U.S. government and its agencies and either explicitly or implicitly guaranteed by the U.S. government, highly rated by major credit rating agencies and had a long history of no credit losses. Accordingly, the Company did not measure expected credit losses on investment securities held to maturity since the historical credit loss information adjusted for current conditions and reasonable and supportable forecasts results in an expectation that nonpayment of the amortized cost basis is zero. Therefore, no ACL on investment securities held to maturity was recorded as of June 30, 2022 and December 31, 2021. (d) Realized Gains and Losses The following table presents the gross realized gains and losses on the sale of investment securities available for sale during the following periods: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In thousands) Gross realized gains $ — $ — $ — $ 29 (e) Pledged Securities The following table summarizes the amortized cost and fair value of investment securities that are pledged as collateral for the following obligations at the dates indicated: June 30, 2022 December 31, 2021 Amortized Fair Amortized Fair (In thousands) Washington and Oregon state public deposits $ 139,868 $ 128,842 $ 128,216 $ 130,217 Federal Reserve Bank credit facility 60,865 52,530 61,057 59,674 Securities sold under agreement to repurchase 69,358 62,647 59,887 59,655 Other securities pledged 49,941 45,739 56,419 55,633 Total $ 320,032 $ 289,758 $ 305,579 $ 305,179 (f) Accrued Interest Receivable Accrued interest receivable excluded from the amortized cost of investment securities available for sale totaled $4.6 million and $3.5 million at June 30, 2022 and December 31, 2021, respectively. Accrued interest receivable excluded from the amortized cost on investment securities held to maturity totaled $1.8 million and $1.1 million at June 30, 2022 and December 31, 2021, respectively. No amounts of accrued interest receivable on investment securities available for sale or held to maturity were reversed against interest income on investment securities during the three or six months ended June 30, 2022 and 2021. |
Loans Receivable
Loans Receivable | 6 Months Ended |
Jun. 30, 2022 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans Receivable | Loans Receivable The Bank originates loans in the ordinary course of business and has also acquired loans through mergers and acquisitions. Accrued interest receivable was excluded from disclosures presenting the Bank's amortized cost of loans receivable as it was deemed insignificant. (a) Loan Origination/Risk Management The Bank categorizes the individual loans in the total loan portfolio into four segments: commercial business; residential real estate; real estate construction and land development; and consumer. Within these segments are classes of loans for which management monitors and assesses credit risk in the loan portfolios. A detailed description of the portfolio segments and classes is contained in the 2021 Annual Form 10-K. The Bank has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. Management reviews and approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and criticized loans. The Bank also conducts internal loan reviews and validates the credit risk assessment on a periodic basis and presents the results of these reviews to management. The loan review process complements and reinforces the risk identification and assessment decisions made by loan officers and credit personnel. The amortized cost of loans receivable, net of ACL on loans, consisted of the following portfolio segments and classes at the dates indicated: June 30, December 31, (In thousands) Commercial business: Commercial and industrial $ 698,828 $ 621,567 SBA PPP 11,334 145,840 Owner-occupied CRE 950,699 931,150 Non-owner occupied CRE 1,515,796 1,493,099 Total commercial business 3,176,657 3,191,656 Residential real estate 265,382 164,582 Real estate construction and land development: Residential 90,546 85,547 Commercial and multifamily 128,060 141,336 Total real estate construction and land development 218,606 226,883 Consumer 213,419 232,541 Loans receivable 3,874,064 3,815,662 Allowance for credit losses on loans (39,696) (42,361) Loans receivable, net $ 3,834,368 $ 3,773,301 Balances included in the amortized cost of loans receivable: Unamortized net discount on acquired loans $ 3,084 $ 3,938 Unamortized net deferred fee $ 4,947 $ 7,954 (b) Concentrations of Credit Most of the Bank’s lending activity occurs within its primary market areas which are concentrated along the I-5 corridor from Whatcom County to Clark County in Washington State, Multnomah County and Washington County in Oregon, as well as other contiguous markets and represents a geographic concentration. Additionally, the Bank's loan portfolio is concentrated in commercial loans, including commercial business loans and commercial and multifamily real estate construction and land development loans. Commercial loans are generally considered as having more inherent risk of default than residential real estate loans or other consumer loans. Also, the commercial loan balance per borrower is typically larger than that for residential real estate loans and consumer loans, implying higher potential losses on an individual loan basis. (c) Credit Quality Indicators As part of the on-going monitoring of the credit quality of the Bank’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk grade of the loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) nonperforming loans, (v) past due status, and (vi) the general economic conditions of the United States of America, and specifically the states of Washington and Oregon. The Bank utilizes a risk grading matrix to assign a risk grade to each of its loans. Loans are graded on a scale of 1 to 10. Risk grades are aggregated to create the risk categories of Pass for grades 1 to 6, Special Mention or "SM" for grade 7, Substandard or "SS" for grade 8, Doubtful for grade 9 and Loss for grade 10. Descriptions of the general characteristics of the risk grades, including qualitative information on how the risk grades relate to the risk of loss, are contained in the 2021 Annual Form 10-K. Numerical loan grades for loans are established at the origination of the loan. Changes to loan grades are considered at the time new information about the performance of a loan becomes available, including the receipt of updated financial information from the borrower, results of annual term loan reviews and scheduled loan reviews. For consumer loans, the Bank follows the FDIC’s Uniform Retail Credit Classification and Account Management Policy for subsequent classification in the event of payment delinquencies or default. Typically, an individual loan grade will not be changed from the prior period unless there is a specific indication of credit deterioration or improvement. Credit deterioration is evidenced by delinquency, direct communications with the borrower or other borrower information that becomes known to management. Credit improvements are evidenced by known facts regarding the borrower or the collateral property. Loan grades relate to the likelihood of losses in that the higher the grade, the greater the loss potential. Loans with a pass grade may have some estimated inherent losses, but to a lesser extent than the other loan grades. The SM loan grade is transitory in that the Bank is waiting on additional information to determine the likelihood and extent of any potential loss. The likelihood of loss for SM graded loans, however, is greater than Watch graded loans because there has been measurable credit deterioration. Loans with a SS grade are generally accrual loans at risk of being classified as nonaccrual loans and includes all of our loans classified as nonaccrual. For Doubtful and Loss graded loans, the Bank is almost certain of the losses and the outstanding principal balances are generally charged off to the realizable value. The following table presents the amortized cost of loans receivable by risk grade at the dates indicated: June 30, 2022 Term Loans Revolving Loans Revolving Loans Converted (2) Loans Receivable 2022 2021 (1) 2020 2019 2018 Prior (In thousands) Commercial business: Commercial and industrial Pass $ 96,128 $ 101,302 $ 93,475 $ 73,299 $ 38,742 $ 90,980 $ 168,030 $ 45 $ 662,001 SM 234 253 729 4,842 8,764 2,981 1,619 — 19,422 SS 882 169 696 4,581 1,163 6,866 2,171 877 17,405 Total 97,244 101,724 94,900 82,722 48,669 100,827 171,820 922 698,828 SBA PPP Pass — 11,175 159 — — — — — 11,334 Owner-occupied CRE Pass 78,387 171,470 91,633 180,596 73,797 316,424 — — 912,307 SM — — — 1,698 2,573 12,042 — — 16,313 SS — 261 679 — 3,755 17,384 — — 22,079 Total 78,387 171,731 92,312 182,294 80,125 345,850 — — 950,699 Non-owner occupied CRE Pass 125,451 185,105 166,150 240,396 139,626 578,421 — — 1,435,149 SM — 8,435 — 3,652 — 16,655 — — 28,742 SS — — — — 3,626 48,279 — — 51,905 Total 125,451 193,540 166,150 244,048 143,252 643,355 — — 1,515,796 Total commercial business Pass 299,966 469,052 351,417 494,291 252,165 985,825 168,030 45 3,020,791 SM 234 8,688 729 10,192 11,337 31,678 1,619 — 64,477 SS 882 430 1,375 4,581 8,544 72,529 2,171 877 91,389 Total 301,082 478,170 353,521 509,064 272,046 1,090,032 171,820 922 3,176,657 Residential real estate Pass (1) 60,870 140,448 24,564 17,699 4,716 16,907 — — 265,204 SS — — — — — 178 — — 178 Total 60,870 140,448 24,564 17,699 4,716 17,085 — — 265,382 Real estate construction and land development: Residential Pass 21,664 43,877 10,330 12,002 1,005 1,668 — — 90,546 Commercial and multifamily Pass 8,832 75,096 23,991 6,952 3,186 2,013 — — 120,070 SM — — 1,871 5,714 — — — — 7,585 SS — — — — — 405 — — 405 Total 8,832 75,096 25,862 12,666 3,186 2,418 — — 128,060 Total real estate construction and land development Pass 30,496 118,973 34,321 18,954 4,191 3,681 — — 210,616 SM — — 1,871 5,714 — — — — 7,585 SS — — — — — 405 — — 405 Total 30,496 118,973 36,192 24,668 4,191 4,086 — — 218,606 June 30, 2022 Term Loans Revolving Loans Revolving Loans Converted (2) Loans Receivable 2022 2021 (1) 2020 2019 2018 Prior Consumer Pass 2,475 770 12,451 35,722 21,337 19,062 118,826 329 210,972 SS — — 169 558 366 1,346 8 — 2,447 Total 2,475 770 12,620 36,280 21,703 20,408 118,834 329 213,419 Loans receivable Pass 393,807 729,243 422,753 566,666 282,409 1,025,475 286,856 374 3,707,583 SM 234 8,688 2,600 15,906 11,337 31,678 1,619 — 72,062 SS 882 430 1,544 5,139 8,910 74,458 2,179 877 94,419 Total $ 394,923 $ 738,361 $ 426,897 $ 587,711 $ 302,656 $ 1,131,611 $ 290,654 $ 1,251 $ 3,874,064 (1) The 2021 origination year includes $42.2 million of pass grade residential real estate loans purchased during the six months ended June 30, 2022 which were originated during the year ended December 31, 2021. (2) Represents the loans receivable balance at June 30, 2022 which was converted from a revolving loan to an amortizing loan during the six months ended June 30, 2022. December 31, 2021 Term Loans Revolving Loans Revolving Loans Converted (1) Loans Receivable 2021 2020 2019 2018 2017 Prior (In thousands) Commercial business: Commercial and industrial Pass $ 95,960 $ 100,193 $ 94,657 $ 54,707 $ 28,558 $ 77,294 $ 127,651 $ 1,035 $ 580,055 SM 326 884 5,998 1,425 2,223 2,401 2,048 353 15,658 SS 1,443 1,287 5,912 2,809 2,526 6,907 4,402 568 25,854 Total 97,729 102,364 106,567 58,941 33,307 86,602 134,101 1,956 621,567 SBA PPP Pass 139,253 6,587 — — — — — — 145,840 Owner-occupied CRE Pass 182,742 90,609 188,380 73,714 66,039 273,518 — 72 875,074 SM 264 — 3,079 7,521 3,937 16,724 — — 31,525 SS — 1,332 — 3,787 3,014 16,418 — — 24,551 Total 183,006 91,941 191,459 85,022 72,990 306,660 — 72 931,150 Non-owner-occupied CRE Pass 187,860 185,650 244,863 149,090 144,896 499,486 — — 1,411,845 SM — — 5,674 — 15,482 2,400 — — 23,556 SS — — — 3,379 — 54,319 — — 57,698 Total 187,860 185,650 250,537 152,469 160,378 556,205 — — 1,493,099 Total commercial business Pass 605,815 383,039 527,900 277,511 239,493 850,298 127,651 1,107 3,012,814 SM 590 884 14,751 8,946 21,642 21,525 2,048 353 70,739 SS 1,443 2,619 5,912 9,975 5,540 77,644 4,402 568 108,103 Total 607,848 386,542 548,563 296,432 266,675 949,467 134,101 2,028 3,191,656 Residential real estate Pass 85,089 27,090 23,295 5,672 6,141 16,891 — — 164,178 SS — — — — — 404 — — 404 Total 85,089 27,090 23,295 5,672 6,141 17,295 — — 164,582 December 31, 2021 Term Loans Revolving Loans Revolving Loans Converted (1) Loans Receivable 2021 2020 2019 2018 2017 Prior (In thousands) Real estate construction and land development: Residential Pass 44,892 23,728 12,266 2,921 389 1,351 — — 85,547 Commercial and multifamily Pass 56,448 41,616 34,117 5,794 710 1,379 — — 140,064 SM — — 68 — — 213 — — 281 SS — 571 — — — 420 — — 991 Total 56,448 42,187 34,185 5,794 710 2,012 — — 141,336 Total real estate construction and land development Pass 101,340 65,344 46,383 8,715 1,099 2,730 — — 225,611 SM — — 68 — — 213 — — 281 SS — 571 — — — 420 — — 991 Total 101,340 65,915 46,451 8,715 1,099 3,363 — — 226,883 Consumer Pass 1,286 15,737 46,041 29,819 15,068 13,026 108,492 120 229,589 SS — 181 657 476 542 1,043 36 17 2,952 Total 1,286 15,918 46,698 30,295 15,610 14,069 108,528 137 232,541 Loans receivable Pass 793,530 491,210 643,619 321,717 261,801 882,945 236,143 1,227 3,632,192 SM 590 884 14,819 8,946 21,642 21,738 2,048 353 71,020 SS 1,443 3,371 6,569 10,451 6,082 79,511 4,438 585 112,450 Total $ 795,563 $ 495,465 $ 665,007 $ 341,114 $ 289,525 $ 984,194 $ 242,629 $ 2,165 $ 3,815,662 (1) Represents the loans receivable balance at December 31, 2021 which was converted from a revolving loan to an amortizing loan during the year ended December 31, 2021. (d) Nonaccrual Loans The following tables present the amortized cost of nonaccrual loans for the dates indicated: June 30, 2022 Nonaccrual without ACL Nonaccrual with ACL Total Nonaccrual (In thousands) Commercial business: Commercial and industrial $ 5,604 $ 569 $ 6,173 Owner-occupied CRE — 4,302 4,302 Total $ 5,604 $ 4,871 $ 10,475 December 31, 2021 Nonaccrual without ACL Nonaccrual with ACL Total Nonaccrual (In thousands) Commercial business: Commercial and industrial $ 6,454 $ 3,827 $ 10,281 Owner-occupied CRE 3,036 5,138 8,174 Non-owner occupied CRE 1,273 3,379 4,652 Total commercial business 10,763 12,344 23,107 Residential real estate — 47 47 December 31, 2021 Nonaccrual without ACL Nonaccrual with ACL Total Nonaccrual (In thousands) Real estate construction and land development: Commercial and multifamily — 571 571 Consumer — 29 29 Total $ 10,763 $ 12,991 $ 23,754 The following table presents the reversal of interest income on loans due to the write-off of accrued interest receivable upon the initial classification of loans as nonaccrual loans and the interest income recognized due to payment in full or sale of previously classified nonaccrual loans during the following periods: Three Months Ended Three Months Ended Interest Income Reversed Interest Income Recognized Interest Income Reversed Interest Income Recognized (In thousands) Commercial business: Commercial and industrial $ (12) $ 90 $ (5) $ 1,981 Owner-occupied CRE — — — 3 Total $ (12) $ 90 $ (5) $ 1,984 Six Months Ended Six Months Ended Interest Income Reversed Interest Income Recognized Interest Income Reversed Interest Income Recognized (in thousands) Commercial business: Commercial and industrial $ (14) $ 229 $ (10) $ 2,044 Owner-occupied CRE — 53 — 117 Non-owner occupied CRE — 774 — 313 Total commercial business (14) 1,056 (10) 2,474 Residential real estate — 19 — — Real estate construction and land development: Residential — — — 73 Consumer — 68 — — Total $ (14) $ 1,143 $ (10) $ 2,547 For the three and six months ended June 30, 2022 and 2021, no interest income was recognized subsequent to a loan’s classification as nonaccrual, except as indicated in the tables above due to payment in full or sale. (e) Past due loans The Bank performs an aging analysis of past due loans using policies consistent with regulatory reporting requirements with categories of 30-89 days past due and 90 or more days past due. The amortized cost of past due loans as of June 30, 2022 and December 31, 2021 were as follows: June 30, 2022 30-89 Days 90 Days or Total Past Current Loans Receivable (In thousands) Commercial business: Commercial and industrial $ 259 $ 7,190 $ 7,449 $ 691,379 $ 698,828 SBA PPP — — — 11,334 11,334 Owner-occupied CRE 1,056 189 1,245 949,454 950,699 Non-owner occupied CRE — — — 1,515,796 1,515,796 June 30, 2022 30-89 Days 90 Days or Total Past Current Loans Receivable (In thousands) Total commercial business 1,315 7,379 8,694 3,167,963 3,176,657 Residential real estate — — — 265,382 265,382 Real estate construction and land development: Residential — — — 90,546 90,546 Commercial and multifamily — — — 128,060 128,060 Total real estate construction and land development — — — 218,606 218,606 Consumer 651 199 850 212,569 213,419 Total $ 1,966 $ 7,578 $ 9,544 $ 3,864,520 $ 3,874,064 December 31, 2021 30-89 Days 90 Days or Total Past Current Loans Receivable (In thousands) Commercial business: Commercial and industrial $ 1,858 $ 6,821 $ 8,679 $ 612,888 $ 621,567 SBA PPP 223 293 516 145,324 145,840 Owner-occupied CRE 2,397 112 2,509 928,641 931,150 Non-owner occupied CRE — — — 1,493,099 1,493,099 Total commercial business 4,478 7,226 11,704 3,179,952 3,191,656 Residential real estate 420 10 430 164,152 164,582 Real estate construction and land development: Residential 792 — 792 84,755 85,547 Commercial and multifamily 3,474 571 4,045 137,291 141,336 Total real estate construction and land development 4,266 571 4,837 222,046 226,883 Consumer 1,026 — 1,026 231,515 232,541 Total $ 10,190 $ 7,807 $ 17,997 $ 3,797,665 $ 3,815,662 Loans 90 days or more past due and still accruing interest were $2.0 million and $293,000 as of June 30, 2022 and December 31, 2021, respectively. (f) Collateral-dependent Loans The type of collateral securing loans individually evaluated for credit losses and for which the repayment was expected to be provided substantially through the operation or sale of the collateral as of June 30, 2022 and December 31, 2021 was as follows, with b alances representing the amortized cost of the loan classified by the primary collateral category of each loan if multiple collateral sources secure the loan : June 30, 2022 CRE Farmland Residential Real Estate Total (In thousands) Commercial business: Commercial and industrial $ 1,239 $ 2,492 $ 1,316 $ 5,047 Owner-occupied CRE 189 — — 189 Total $ 1,428 $ 2,492 $ 1,316 $ 5,236 December 31, 2021 CRE Farmland Residential Real Estate Other Total (In thousands) Commercial business: December 31, 2021 CRE Farmland Residential Real Estate Other Total (In thousands) Commercial and industrial $ 1,499 $ 4,362 $ 1,036 $ 245 $ 7,142 Owner-occupied CRE 3,035 — — — 3,035 Non-owner occupied CRE 1,273 — — — 1,273 Total commercial business 5,807 4,362 1,036 245 11,450 Real estate construction and land development: Commercial and multifamily 571 — — — 571 Total $ 6,378 $ 4,362 $ 1,036 $ 245 $ 12,021 There have been no significant changes to the collateral securing loans individually evaluated for credit losses and for which repayment was expected to be provided substantially through the operation or sale of the collateral during the six months ended June 30, 2022, except changes due to additions or removals of loans from this classification. (g) Troubled Debt Restructured Loans Loans that were modified as TDR loans are set forth in the following table for the periods indicated: Three Months Ended June 30, 2022 2021 Number of Amortized Cost (1) (2) Number of Amortized Cost (1) (2) (Dollars in thousands) Commercial business: Commercial and industrial 3 $ 1,727 18 $ 5,673 Owner-occupied CRE — — 1 2,200 Non-owner occupied CRE — — 1 251 Total commercial business 3 1,727 20 8,124 Real estate construction and land development: Commercial and multifamily — — 1 443 Consumer 3 44 6 146 Total 6 $ 1,771 27 $ 8,713 Six Months Ended June 30, 2022 2021 Number of Amortized Cost (1) (2) Number of Amortized Cost (1) (2) (Dollars in thousands) Commercial business: Commercial and industrial 4 $ 2,610 31 $ 8,713 Owner-occupied CRE — — 2 5,857 Non-owner occupied CRE — — 2 2,222 Total commercial business 4 2,610 35 16,792 Residential real estate — — 1 181 Real estate construction and land development: Commercial and multifamily — — 1 443 Consumer 8 95 21 511 Total 12 $ 2,705 58 $ 17,927 (1) Number of contracts and amortized cost represent loans which have balances as of period end, net of subsequent payments after modifications. Certain TDR loans may have been paid-down or charged-off during the six months ended June 30, 2022 and 2021. (2) As the Bank did not forgive any principal or interest balance as part of the loan modifications, the Bank’s amortized cost in each loan at the date of modification (pre-modification) did not change as a result of the modification (post-modification). The Bank had an ACL on loa ns of $4,000 an d $1.7 million at June 30, 2022 and June 30, 2021, respectively, related to these TDR loans which were restructured during the six months ended June 30, 2022 and June 30, 2021, respectively. The unfunded commitment to borrowers related to TDR loans was $3.4 million and $5.7 million at June 30, 2022 and December 31, 2021, respectively. The following table presents loans that were modified in a TDR and subsequently defaulted within twelve months from the modification date during the periods indicated: Three Months Ended June 30, 2022 2021 Number of Contracts (1) Amortized Cost (1) Number of Contracts (1) Amortized Cost (1) (Dollars in thousands) Commercial business: Commercial and industrial — $ — 1 $ 46 Six Months Ended June 30, 2022 2021 Number of Contracts (1) Amortized Cost (1) Number of Contracts (1) Amortized Cost (1) (Dollars in thousands) Commercial business: Commercial and industrial — $ — 2 $ 789 Owner-occupied CRE 1 189 — — (1) Number of contracts and amortized cost represent TDR loans which have balances as of period end, net of subsequent payments after modifications. Certain TDR loans may have been paid-down or charged-off during the six months ended June 30, 2022 and 2021. The Bank had $3,000 ACL on loans at June 30, 2022 and $7,000 at June 30, 2021 related to these TDR loans which defaulted during the six months ended June 30, 2022 and 2021. (h) Accrued interest receivable on loans receivable Accrued interest receivable on loans receivable totaled $9.5 million and $10.1 million at June 30, 2022 and December 31, 2021, respectively. It is excluded from the calculation of the ACL on loans as interest accrued, but not received, is reversed timely. (i) Foreclosure proceedings in process At June 30, 2022, there were no consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process. |
Allowance for Credit Losses on
Allowance for Credit Losses on Loans | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Allowance for Credit Losses on Loans | Allowance for Credit Losses on Loans The baseline loss rates used to calculate the ACL on loans at June 30, 2022 utilized the Bank's average quarterly historical loss information from December 31, 2012 through the balance sheet date. There were no changes to this assumption during the six months ended June 30, 2022. The Bank believes the historic loss rates are viable inputs to the current CECL model as the Bank's lending practice and business has remained relatively stable throughout the periods. While the Bank's assets have grown, the credit culture has stayed relatively consistent. Prepayments included in the CECL model at June 30, 2022 were based on the 48-month rolling historical averages for each segment, which management believes is an accurate representation of future prepayment activity. There were no changes to this assumption during the six months ended June 30, 2022. The reasonable and supportable period and subsequent reversion period used in the CECL model was five quarters and two quarters, respectively, at December 31, 2021. There were no changes to these assumptions during the six months ended June 30, 2022. Management believes forecasts beyond this seven quarter time period tend to diverge in economic assumptions and may be less comparable to actual future events. As the length of the reasonable and supportable period increases, the degree of judgment involved in estimating the allowance increases. During the six months ended June 30, 2022, the ACL on loans decreased $2.7 million, or 6.3%, due primarily to a reversal of provision for credit losses on loans of $3.2 million driven by a $2.9 million reduction in the ACL on loans individually evaluated for losses and their related ACL as well as changes in the loan mix and continued improvement in forecasted economic indicators used to calculate credit losses. The ACL on loans at June 30, 2022 and December 31, 2021 did not include a reserve for SBA PPP loans as these loans are fully guaranteed by the SBA. A summary of the changes in the ACL on loans during the six months ended June 30, 2022 and 2021 is as follows: Six Months Ended 2022 2021 (In thousands) Beginning balance $ 42,361 $ 70,185 Charge-offs (604) (320) Recoveries of loans previously charged-off 1,110 653 Reversal of provision for credit losses on loans (3,171) (18,956) Ending balance $ 39,696 $ 51,562 The following tables detail the activity in the ACL on loans by segment and class for the periods indicated: Three Months Ended June 30, 2022 Beginning Balance Charge-offs Recoveries (Reversal of) Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 15,265 $ (117) $ 149 $ (1,264) $ 14,033 Owner-occupied CRE 7,085 — — 1,077 8,162 Non-owner occupied CRE 9,582 — — (70) 9,512 Total commercial business 31,932 (117) 149 (257) 31,707 Residential real estate 1,803 — — 334 2,137 Real estate construction and land development: Residential 1,124 — 6 (49) 1,081 Commercial and multifamily 3,175 — 53 (1,025) 2,203 Total real estate construction and land development 4,299 — 59 (1,074) 3,284 Consumer 2,299 (132) 53 348 2,568 Total $ 40,333 $ (249) $ 261 $ (649) $ 39,696 Six Months Ended June 30, 2022 Beginning Balance Charge-offs Recoveries (Reversal of) Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 17,777 $ (280) $ 421 $ (3,885) $ 14,033 Owner-occupied CRE 6,411 (36) — 1,787 8,162 Non-owner occupied CRE 8,861 — — 651 9,512 Total commercial business 33,049 (316) 421 (1,447) 31,707 Residential real estate 1,409 (30) 3 755 2,137 Real estate construction and land development: Residential 1,304 — 14 (237) 1,081 Commercial and multifamily 3,972 — 53 (1,822) 2,203 Total real estate construction and land development 5,276 — 67 (2,059) 3,284 Consumer 2,627 (258) 619 (420) 2,568 Total $ 42,361 $ (604) $ 1,110 $ (3,171) $ 39,696 Three Months Ended June 30, 2021 Beginning Balance Charge-offs Recoveries (Reversal of) Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 21,770 $ (13) $ 132 $ (4,404) $ 17,485 Owner-occupied CRE 10,464 — 11 (1,913) 8,562 Non-owner occupied CRE 12,970 — — (2,340) 10,630 Total commercial business 45,204 (13) 143 (8,657) 36,677 Residential real estate 1,402 — — (249) 1,153 Real estate construction and land development: Residential 2,048 — 4 (416) 1,636 Commercial and multifamily 11,223 — — (2,388) 8,835 Total real estate construction and land development 13,271 — 4 (2,804) 10,471 Consumer 4,348 (120) 144 (1,111) 3,261 Total $ 64,225 $ (133) $ 291 $ (12,821) $ 51,562 Six Months Ended June 30, 2021 Beginning Balance Charge-offs Recoveries (Reversal of) Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 30,010 $ (14) $ 337 $ (12,848) $ 17,485 Owner-occupied CRE 9,486 — 13 (937) 8,562 Non-owner occupied CRE 10,112 — — 518 10,630 Total commercial business 49,608 (14) 350 (13,267) 36,677 Residential real estate 1,591 — — (438) 1,153 Real estate construction and land development: Residential 1,951 — 20 (335) 1,636 Commercial and multifamily 11,141 (1) — (2,305) 8,835 Total real estate construction and land development 13,092 (1) 20 (2,640) 10,471 Consumer 5,894 (305) 283 (2,611) 3,261 Total $ 70,185 $ (320) $ 653 $ (18,956) $ 51,562 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets (a) Goodwill There were no additions to goodwill during the three and six months ended June 30, 2022 and 2021. Additionally, management analyzes its goodwill on an annual basis on December 31 and between annual tests in certain circumstances such as material adverse changes in legal, business, regulatory and economic factors. An impairment loss is recorded to the extent the carrying amount of goodwill exceeds its implied fair value. The Company performed an annual impairment assessment as of December 31, 2021 and concluded that there was no impairment. (b) Other Intangible Assets Other intangible assets represent core deposit intangible acquired in business combinations with estimated useful lives of ten years. There were no additions to other intangible assets during the three and six months ended June 30, 2022 and 2021. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | Derivative Financial InstrumentsThe Company utilizes interest rate swap derivative contracts to facilitate the needs of its commercial customers whereby it enters into an interest rate swap with a customer while at the same time entering into an offsetting interest rate swap with another financial institution. The transaction allows the Company’s customer to effectively convert a variable rate loan to a fixed rate and the Company recognizes immediate income based upon the difference in the bid/ask spread of the underlying transactions with its customers and the third-party. These interest rate swaps are not designated as hedging instruments. The Company is exposed to interest rate risk as part of the transaction. However, the Company acts as an intermediary for its customer therefore changes in the fair value of the underlying derivative contracts for the most part offset each other and do not significantly impact the Company’s results of operations. Fee income related to interest rate swap derivative contract transactions is recorded in Interest rate swap fees on the unaudited Condensed Consolidated Statements of Income. The fair value of derivative positions outstanding is included in Prepaid expenses and other assets and Accrued expenses and other liabilities in the unaudited Condensed Consolidated Statements of Financial Condition. The gains and losses due to changes in fair value and all cash flows are included in Other income in the unaudited Condensed Consolidated Statements of Income, but typically net to zero based on the identical back-to-back interest rate swap derivative contracts unless a credit valuation adjustment is recorded to appropriately reflect nonperformance risk in the fair value measurement. Various factors impact changes in the credit valuation adjustments over time, including changes in the risk ratings of the parties to the contracts, as well as changes in market rates and volatilities, which affect the total expected exposure of the derivative instruments. The following table presents the notional amounts and estimated fair values of interest rate derivative contracts outstanding at the dates indicated: June 30, 2022 December 31, 2021 Notional Amounts Estimated Fair Value Notional Amounts Estimated Fair Value (In thousands) Non-hedging interest rate derivatives Interest rate swap asset (1) $ 305,902 19,842 $ 322,726 $ 15,219 Interest rate swap liability (1) 305,902 (19,842) 322,726 (15,286) (1) The estimated fair value of derivatives with customers was $(19.0) million and $9.8 million as of June 30, 2022 and December 31, 2021, respectively. The estimated fair value of derivatives with third-parties was $19.0 million and $(9.8) million as of June 30, 2022 and December 31, 2021, respectively. The Company is exposed to credit-related losses in the event of nonperformance by the counterparty to these agreements. Credit risk for derivatives with the customer is controlled through the credit approval process, amount limits, and monitoring procedures and is concentrated within our primary market areas. Credit risk for derivatives with third-parties is concentrated among four well-known broker dealers. |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | Stockholders’ Equity (a) Earnings Per Common Share The following table illustrates the calculation of weighted average shares used for earnings per common share computations for the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In thousands, except shares) Net income $ 18,584 $ 32,702 $ 38,341 $ 58,046 Basic: Weighted average common shares outstanding 35,110,334 35,994,740 35,102,572 35,961,032 Diluted: Basic weighted average common shares outstanding 35,110,334 35,994,740 35,102,572 35,961,032 Effect of potentially dilutive common shares (1) 299,190 294,724 310,150 307,829 Total diluted weighted average common shares outstanding 35,409,524 36,289,464 35,412,722 36,268,861 Potentially dilutive shares that were excluded from the computation of diluted earnings per share because to do so would be anti-dilutive (2) 16,978 7,065 14,334 4,766 (1) Represents the effect of the vesting of restricted stock units. (2) Anti-dilution occurs when the unrecognized compensation cost per share of a restricted stock unit exceeds the market price of the Company’s stock. (b) Dividends The timing and amount of cash dividends paid on the Company's common stock depends on the Company’s earnings, capital requirements, financial condition and other relevant factors. Dividends on common stock from the Company depend substantially upon receipt of dividends from the Bank, which is the Company’s predominant source of income. The following table summarizes the dividend activity during the six months ended June 30, 2022 and the calendar year 2021: Declared Cash Dividend per Share Record Date Paid Date January 27, 2021 $0.20 February 10, 2021 February 24, 2021 April 21, 2021 $0.20 May 5, 2021 May 19, 2021 July 21, 2021 $0.20 August 4, 2021 August 18, 2021 October 20, 2021 $0.21 November 3, 2021 November 17, 2021 January 26, 2022 $0.21 February 9, 2022 February 23, 2022 April 20, 2022 $0.21 May 4, 2022 May 18, 2022 The FDIC and the Washington State Department of Financial Institutions, Division of Banks have the authority under their supervisory powers to prohibit the payment of dividends by the Bank to the Company. Additionally, current guidance from the Federal Reserve provides, among other things, that dividends per share on the Company’s common stock generally should not exceed earnings per share, measured over the previous four fiscal quarters. Current regulations allow the Company and the Bank to pay dividends on their common stock if the Company’s or the Bank’s regulatory capital would not be reduced below the statutory capital requirements set by the Federal Reserve and the FDIC. (c) Stock Repurchase Program The Company has had various stock repurchase programs since March 1999. On March 12, 2020, the Company's Board of Directors authorized the repurchase of up to 5% of the Company's outstanding common shares, or 1,799,054 shares, under the twelfth stock repurchase plan. The number, timing and price of shares repurchased under the twelfth stock repurchase plan will depend on business and market conditions and other factors, including opportunities to deploy the Company's capital. The following table provides total repurchased shares and average share prices under the plan for the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 Plan Total (1) Repurchased shares 19,531 — 100,090 — 1,160,840 Stock repurchase average share price $ 24.63 $ — $ 25.07 $ — $ 23.94 (1) Represents shares repurchased and average price per share paid during the duration of the plan. In addition to the stock repurchases under a stock repurchase plan, the Company repurchases shares to pay withholding taxes on the vesting of restricted stock awards and units. The following table provides total shares repurchased to pay withholding taxes during the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 Repurchased shares to pay withholding taxes 1,649 2,557 26,180 25,803 Stock repurchase to pay withholding taxes average share price $ 24.43 $ 27.47 $ 25.40 $ 29.33 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 : Valuations for assets and liabilities traded in active exchange markets, or interest in open-end mutual funds that allow the Company to sell its ownership interest back to the fund at net asset value on a daily basis. Valuations are obtained from readily available pricing sources for market transactions involving identical assets, liabilities, or funds. Level 2 : Valuations for assets and liabilities traded in less active dealer or broker markets, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or valuations using methodologies with observable inputs. Level 3 : Valuations for assets and liabilities that are derived from other valuation methodologies, such as option pricing models, discounted cash flow models and similar techniques using unobservable inputs, and not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. (a) Recurring and Nonrecurring Basis The Company used the following methods and significant assumptions to measure the fair value of certain assets on a recurring and nonrecurring basis: Investment Securities : The fair values of all investment securities are based upon the assumptions that market participants would use in pricing the security. If available, fair values of investment securities are determined by quoted market prices (Level 1). For investment securities where quoted market prices are not available, fair values are calculated based on market prices on similar securities (Level 2). For investment securities where quoted prices or market prices of similar securities are not available, fair values are calculated by using observable and unobservable inputs such as discounted cash flows or other market indicators (Level 3). Investment security valuations are obtained from third-party pricing services. Collateral-Dependent Loans : Collateral-dependent loans are identified for the calculation of the ACL on loans. The fair value used to measure credit loss for this type of loan is commonly based on recent real estate appraisals which are generally obtained at least every 18 months or earlier if there are changes to risk characteristics of the underlying loan. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by independent appraisers to adjust for differences between the comparable sales and income data available. The Bank also incorporates an estimate of cost to sell the collateral when the sale is probable. Such adjustments may be significant and result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value based on the borrower’s financial statements or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise and knowledge of the customer and customer’s business (Level 3). Individually evaluated loans are analyzed for credit loss on a quarterly basis and the ACL on loans is adjusted as required based on the results. Appraisals on collateral-dependent loans are performed by certified general appraisers for commercial properties or certified residential appraisers for residential properties whose qualifications and licenses have been reviewed and verified by the Bank. Once received, the Bank's internal appraisal department reviews and approves the assumptions and approaches utilized in the appraisal as well as the resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Derivative Financial Instruments: The Bank obtains broker or dealer quotes to value its interest rate derivative contracts, which use valuation models using observable market data as of the measurement date (Level 2), and incorporates credit valuation adjustments to reflect nonperformance risk in the measurement of fair value (Level 3). Although the Bank has determined that the majority of the inputs used to value its interest rate swap derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as borrower risk ratings, to evaluate the likelihood of default by itself and its counterparties. As of June 30, 2022 and December 31, 2021, the Bank assessed the significance of the impact of the credit valuation adjustment on the overall valuation of its interest rate swap derivatives and determined the credit valuation adjustment was not significant to the overall valuation of its interest rate swap derivatives. As a result, the Bank has classified its interest rate swap derivative valuations in Level 2 of the fair value hierarchy. Branches held for sale : Branches held for sale are recorded at fair value less costs to sell when transferred from premises and equipment, net to prepaid expenses and other assets on the unaudited Condensed Consolidated Statements of Financial Condition with any valuation adjustment recorded within other noninterest expense on the unaudited Condensed Consolidated Statements of Income. The fair value of branches held for sale is determined based on a real estate appraisal or broker price opinion. Adjustments are routinely made in the appraisal and broker price opinion process by independent appraisers and commercial real estate brokers, respectively, to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in Level 3 classification of the inputs for determining fair value. Additionally, the fair value of branches held for sale can be adjusted based on executed agreements of sale to be completed at a future date. Recurring Basis The following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis at the dates indicated: June 30, 2022 Total Level 1 Level 2 Level 3 (In thousands) Assets Investment securities available for sale: U.S. government and agency securities $ 65,668 $ 19,939 $ 45,729 $ — Municipal securities 200,010 — 200,010 — Residential CMO and MBS 398,156 — 398,156 — June 30, 2022 Total Level 1 Level 2 Level 3 (In thousands) Commercial CMO and MBS 493,620 — 493,620 — Corporate obligations 5,978 — 5,978 — Other asset-backed securities 24,156 — 24,156 — Total investment securities available for sale 1,187,588 19,939 1,167,649 — Equity security 186 186 — — Derivative assets - interest rate swaps 19,842 — 19,842 — Liabilities Derivative liabilities - interest rate swaps $ 19,842 $ — $ 19,842 $ — December 31, 2021 Total Level 1 Level 2 Level 3 (In thousands) Assets Investment securities available for sale: U.S. government and agency securities $ 21,373 $ — $ 21,373 $ — Municipal securities 221,212 — 221,212 — Residential CMO and MBS 306,884 — 306,884 — Commercial CMO and MBS 315,861 — 315,861 — Corporate obligations 2,014 — 2,014 — Other asset-backed securities 26,991 — 26,991 — Total investment securities available for sale 894,335 — 894,335 — Equity security 240 240 — — Derivative assets - interest rate swaps 15,219 — 15,219 — Liabilities Derivative liabilities - interest rate swaps $ 15,286 $ — $ 15,286 $ — Nonrecurring Basis The Company may be required to measure certain financial assets and liabilities at fair value on a nonrecurring basis. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The following tables represent assets measured at fair value on a nonrecurring basis at the dates indicated: Fair Value at June 30, 2022 Basis (1) Total Level 1 Level 2 Level 3 (In thousands) Collateral-dependent loans: Commercial business: Commercial and industrial $ 1,054 $ 969 $ — $ — $ 969 Owner-occupied CRE 613 186 — — 186 Total assets measured at fair value on a nonrecurring basis $ 1,667 $ 1,155 $ — $ — $ 1,155 (1) Basis represents the outstanding principal balance of collateral-dependent loans. Fair Value at December 31, 2021 Basis (1) Total Level 1 Level 2 Level 3 (In thousands) Collateral-dependent loans: Commercial business: Commercial and industrial $ 1,911 $ 1,049 $ — $ — $ 1,049 Owner-occupied CRE 613 189 — — 189 Total commercial business 2,524 1,238 — — 1,238 Real estate construction and land development: Commercial and multifamily 991 $ 534 — — 534 Total 3,515 1,772 — — 1,772 Prepaid expenses and other assets: Branch held for sale (2) 698 698 — — 698 Total assets measured at fair value on a nonrecurring basis $ 4,213 $ 2,470 $ — $ — $ 2,470 (1) Basis represents the outstanding principal balance of collateral-dependent loans and the carrying value of the branch held for sale. (2) In December 2021, one branch was written down to its net realizable value concurrent with the signing of an agreement for sale at a future date. The following table represents the net (loss) gain recorded in earnings as a result of nonrecurring fair value adjustments recorded during the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In thousands) Collateral-dependent loans: Commercial business: Commercial and industrial $ 35 $ 6 $ 23 $ (28) Owner-occupied CRE (3) (76) (3) (76) Total commercial business 32 (70) 20 (104) Real estate construction and land development: Commercial and multifamily — (23) — (38) Net loss from nonrecurring fair value adjustments $ 32 $ (93) $ 20 $ (142) The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the dates indicated: June 30, 2022 Fair Valuation Unobservable Input(s) Range of Inputs; Weighted (Dollars in thousands) Collateral-dependent loans $ 1,155 Market approach Adjustment for differences between the comparable sales N/A (1) (1) Quantitative disclosures are not provided for collateral-dependent loans because there were no adjustments made to the appraisal or stated values during the current period. December 31, 2021 Fair Valuation Unobservable Input(s) Range of Inputs; Weighted (Dollars in thousands) Collateral-dependent loans $ 1,772 Market approach Adjustment for differences between the comparable sales 35.0% - (11.0%); 13.8% Branch held for sale $ 698 Market approach Sale agreement Not applicable (b) Fair Value of Financial Instruments Broadly traded markets do not exist for most of the Company’s financial instruments; therefore, the fair value calculations attempt to incorporate the effect of current market conditions at a specific time. These determinations are subjective in nature, involve uncertainties and matters of significant judgment and do not include tax ramifications; therefore, the results cannot be determined with precision, substantiated by comparison to independent markets and may not be realized in an actual sale or immediate settlement of the instruments. There may be inherent weaknesses in any calculation technique and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results. For all of these reasons, the aggregation of the fair value calculations presented herein do not represent, and should not be construed to represent, the underlying value of the Company. The following tables present the carrying value amount of the Company’s financial instruments and their corresponding estimated fair values at the dates indicated: June 30, 2022 Carrying Fair Fair Value Measurements Using: Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and cash equivalents $ 994,055 $ 994,055 $ 994,055 $ — $ — Investment securities available for sale 1,187,588 1,187,588 19,939 1,167,649 — Investment securities held to maturity 615,653 559,312 — 559,312 — Loans held for sale 1,311 1,353 — 1,353 — Loans receivable, net 3,834,368 3,760,294 — — 3,760,294 Accrued interest receivable 15,908 15,908 272 6,185 9,451 Derivative assets - interest rate swaps 19,842 19,842 — 19,842 — Equity security 186 186 186 — — Financial Liabilities: Non-maturity deposits $ 6,019,421 $ 6,019,421 $ 6,019,421 $ — $ — Certificates of deposit 310,769 311,481 — 311,481 — Securities sold under agreement to repurchase 41,827 41,827 41,827 — — Junior subordinated debentures 21,326 19,250 — — 19,250 Accrued interest payable 83 83 31 16 36 Derivative liabilities - interest rate swaps 19,842 19,842 — 19,842 — December 31, 2021 Carrying Fair Fair Value Measurements Using: Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and cash equivalents $ 1,723,292 $ 1,723,292 $ 1,723,292 $ — $ — Investment securities available for sale 894,335 894,335 — 894,335 — Investment securities held to maturity 383,393 376,331 — 376,331 — Loans held for sale 1,476 1,527 — 1,527 — Loans receivable, net 3,773,301 3,849,602 — — 3,849,602 Accrued interest receivable 14,657 14,657 14 4,582 10,061 Derivative assets - interest rate swaps 15,219 15,219 — 15,219 — Equity security 240 240 240 — — Financial Liabilities: Non-maturity deposits $ 6,038,498 $ 6,038,498 $ 6,038,498 $ — $ — Certificates of deposit 342,839 344,025 — 344,025 — Securities sold under agreement to repurchase 50,839 50,839 50,839 — — Junior subordinated debentures 21,180 18,750 — — 18,750 Accrued interest payable 73 73 33 19 21 Derivative liabilities - interest rate swaps 15,286 15,286 — 15,286 — |
Cash Restriction
Cash Restriction | 6 Months Ended |
Jun. 30, 2022 | |
Banking and Thrift, Other Disclosures [Abstract] | |
Cash Restriction | Cash RestrictionThe Bank had no cash restrictions at June 30, 2022 and had restricted cash included in interest earning deposits of $9.8 million at December 31, 2021 relating to collateral required on interest rate swaps from third-parties as discussed in Note (6) Derivative Financial Instruments. The Bank does not have a collateral requirement with customers. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies In the ordinary course of business, the Bank may enter into various types of transactions that include commitments to extend credit that are not included in its unaudited Condensed Consolidated Financial Statements. The Bank applies the same credit standards to these commitments as it uses in all its lending activities and has included these commitments in its lending risk evaluations. The majority of the commitments presented below are variable rate. Loan commitments can be either revolving or non-revolving. The Bank’s exposure to credit and market risk under commitments to extend credit is represented by the amount of these commitments. The following table presents outstanding commitments to extend credit, including letters of credit, at the dates indicated: June 30, December 31, 2021 (In thousands) Commercial business: Commercial and industrial $ 553,134 $ 570,156 Owner-occupied CRE 3,612 2,252 Non-owner occupied CRE 13,310 7,487 Total commercial business 570,056 579,895 Real estate construction and land development: Residential 52,374 51,838 Commercial and multifamily 217,177 209,217 Total real estate construction and land development 269,551 261,055 Consumer 307,906 285,010 Total outstanding commitments $ 1,147,513 $ 1,125,960 The following table details the activity in the ACL on unfunded commitments during the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In thousands) Balance, beginning of period $ 1,552 $ 3,617 $ 2,607 $ 4,681 Reversal of provision for credit losses on unfunded commitments (555) (1,166) (1,610) (2,230) Balance, end of period $ 997 $ 2,451 $ 997 $ 2,451 |
Description of Business, Basi_2
Description of Business, Basis of Presentation and Significant Accounting Policies and Recently Issued Accounting Pronouncements (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business | Description of BusinessThe Company is primarily engaged in the business of planning, directing and coordinating the business activities of its wholly-owned subsidiary, the Bank. The Bank is headquartered in Olympia, Washington and conducts business from its 50 branch offices located throughout Washington State, the greater Portland, Oregon area, and Eugene, Oregon. The Bank’s business consists primarily of commercial lending and deposit relationships with small and medium-sized businesses and their owners in its market areas and attracting deposits from the general public. The Bank also makes real estate construction and land development loans, consumer loans and originates first mortgage loans on residential properties primarily located in its market areas. The Bank's deposits are insured by the FDIC. |
Basis of Presentation | Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. It is recommended these unaudited Condensed Consolidated Financial Statements and accompanying Notes be read with the audited Consolidated Financial Statements and the accompanying Notes included in the 2021 Annual Form 10-K. In management's opinion, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. To prepare unaudited Condensed Consolidated Financial Statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided. Management believes the judgments, estimates and assumptions used in the preparation of the unaudited Condensed Consolidated Financial Statements are appropriate based on the facts and circumstances at the time. Actual results, however, could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change relate to management's estimate of the ACL on investment securities, management's estimate of the ACL on loans, management's estimate of the ACL on unfunded commitments, management's evaluation of goodwill impairment and management's estimate of the fair value of financial instruments. The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiary, the Bank. All significant intercompany balances and transactions among the Company and the Bank have been eliminated in consolidation. There have been reclassifications in certain prior year amounts in the unaudited Condensed Consolidated Statements of Financial Condition, the unaudited Condensed Consolidated Statements of Income and the unaudited Condensed Consolidated Statements of Cash Flows. Reclassifications had no effect on the prior year's net income or stockholders’ equity. |
Recently Issued or Adopted Accounting Pronouncements | Recently Issued or Adopted Accounting Pronouncements FASB ASU 2020-04 , Reference Rate Reform (Topic 848) , as amended by ASU 2021-01, was issued in March 2020 and provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. The amendments are elective, apply to all entities, and provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The Bank’s interest rate swap-related transactions are the majority of the Company's LIBOR exposure. Effective January 25, 2021, the Company adhered to the Interbank Offered Rate Fallbacks Protocol as published by the International Swaps and Derivatives Association, Inc. and recommended by the Alternative Reference Rates Committee. Additionally, effective January 1, 2022, the Bank is no longer initiating or renewing loans using LIBOR as an index. The Company does not expect this ASU to have a material impact on its business operations and the Consolidated Financial Statements. FASB ASU 2022-02 , Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures , was issued in March 2022. The ASU eliminates the accounting guidance for TDR loans by creditors while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the ASU requires public business entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. These amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, since Heritage previously adopted the amendments in ASU 2016-13, which is commonly referred to as the current expected credit loss methodology, on January 1, 2020. Early adoption is permitted and should be applied prospectively; however, the transition method related to the recognition and |
ACL on Investment Securities | ACL on Investment SecuritiesThe Company evaluated investment securities available for sale as of June 30, 2022 and December 31, 2021 and determined that any declines in fair value were attributable to changes in interest rates relative to where these investments fall within the yield curve and individual characteristics. Management monitors published credit ratings for adverse changes for all rated investment securities and none of these securities had a below investment grade credit rating as of both June 30, 2022 and December 31, 2021. In addition, the Company does not intend to sell these securities nor does the Company consider it more likely than not that it will be required to sell these securities before the recovery of the amortized cost basis, which may be upon maturity. Therefore, no ACL on investment securities available for sale was recorded as of June 30, 2022 and December 31, 2021. The Company also evaluated investment securities held to maturity for current expected credit losses as of June 30, 2022 and December 31, 2021. There were no investment securities held to maturity classified as nonaccrual or past due as of June 30, 2022 and December 31, 2021 and all were issued by the U.S. government and its agencies and either explicitly or implicitly guaranteed by the U.S. government, highly rated by major credit rating agencies and had a long history of no credit losses. Accordingly, the Company did not measure expected credit losses on investment securities held to maturity since the historical credit loss information adjusted for current conditions and reasonable and supportable forecasts results in an expectation that nonpayment of the amortized cost basis is zero. Therefore, no ACL on investment securities held to maturity was recorded as of June 30, 2022 and December 31, 2021. |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of securities available for sale | The following tables present the amortized cost and fair value of investment securities at the dates indicated and the corresponding amounts of gross unrealized gains and losses, including the corresponding amounts of gross unrealized gains and losses on investment securities available for sale recognized in AOCI: June 30, 2022 Amortized Gross Gross Fair (In thousands) Investment securities available for sale: U.S. government and agency securities $ 68,912 $ — $ (3,244) $ 65,668 Municipal securities 213,402 977 (14,369) 200,010 Residential CMO and MBS 433,903 70 (35,817) 398,156 Commercial CMO and MBS 520,772 466 (27,618) 493,620 Corporate obligations 6,003 — (25) 5,978 Other asset-backed securities 24,723 6 (573) 24,156 Total $ 1,267,715 $ 1,519 $ (81,646) $ 1,187,588 Investment securities held to maturity: U.S. government and agency securities $ 150,960 $ — $ (23,416) $ 127,544 Residential CMO and MBS 159,007 257 (5,774) 153,490 Commercial CMO and MBS 305,686 — (27,408) 278,278 Total $ 615,653 $ 257 $ (56,598) $ 559,312 December 31, 2021 Amortized Gross Gross Fair (In thousands) Investment securities available for sale: U.S. government and agency securities $ 21,494 $ 55 $ (176) $ 21,373 Municipal securities 213,158 8,908 (854) 221,212 Residential CMO and MBS 307,366 2,111 (2,593) 306,884 Commercial CMO and MBS 313,169 3,891 (1,199) 315,861 Corporate obligations 2,007 7 — 2,014 Other asset-backed securities 26,638 369 (16) 26,991 Total $ 883,832 $ 15,341 $ (4,838) $ 894,335 Investment securities held to maturity: U.S. government and agency securities $ 141,011 $ 120 $ (1,768) $ 139,363 Residential CMO and MBS 24,529 — (153) 24,376 Commercial CMO and MBS 217,853 — (5,261) 212,592 Total $ 383,393 $ 120 $ (7,182) $ 376,331 |
Schedule of maturities of investment securities | The amortized cost and fair value of investment securities at June 30, 2022, by contractual maturity, are set forth below. Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities Available for Sale Securities Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Due in one year or less $ 8,283 $ 8,306 $ — $ — Due after one year through five years 82,106 80,881 — — Due after five years through ten years 67,161 65,321 83,210 72,516 Due after ten years 130,767 117,148 67,750 55,028 Total investment securities due at a single maturity date 288,317 271,656 150,960 127,544 Mortgage-backed securities (1) 979,398 915,932 464,693 431,768 Total investment securities $ 1,267,715 $ 1,187,588 $ 615,653 $ 559,312 (1) Mortgage-backed securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their payment speed. |
Schedule of fair value and unrealized losses of available for sale investment securities | The following tables show the gross unrealized losses and fair value of the Company’s investment securities available for sale for which an ACL on investment securities available for sale has not been recorded, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position at the dates indicated: June 30, 2022 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) U.S. government and agency securities $ 64,200 $ (2,995) $ 1,468 $ (249) $ 65,668 $ (3,244) Municipal securities 106,205 (11,287) 15,712 (3,082) 121,917 (14,369) Residential CMO and MBS 352,074 (32,446) 31,008 (3,371) 383,082 (35,817) Commercial CMO and MBS 406,835 (27,145) 8,711 (473) 415,546 (27,618) Corporate obligations 5,978 (25) — — 5,978 (25) Other asset-backed securities 19,054 (552) 921 (21) 19,975 (573) Total $ 954,346 $ (74,450) $ 57,820 $ (7,196) $ 1,012,166 $ (81,646) December 31, 2021 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) U.S. government and agency securities $ 14,828 $ (176) $ — $ — $ 14,828 $ (176) Municipal securities 29,774 (619) 9,351 (235) 39,125 (854) Residential CMO and MBS 204,039 (2,470) 19,862 (123) 223,901 (2,593) Commercial CMO and MBS 83,283 (1,161) 1,936 (38) 85,219 (1,199) Other asset-backed securities 2,763 (9) 1,118 (7) 3,881 (16) Total $ 334,687 $ (4,435) $ 32,267 $ (403) $ 366,954 $ (4,838) |
Schedule of realized gains and losses on sale of securities available for sale | The following table presents the gross realized gains and losses on the sale of investment securities available for sale during the following periods: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In thousands) Gross realized gains $ — $ — $ — $ 29 |
Scheduled of amortized cost and fair value of securities pledged as collateral | The following table summarizes the amortized cost and fair value of investment securities that are pledged as collateral for the following obligations at the dates indicated: June 30, 2022 December 31, 2021 Amortized Fair Amortized Fair (In thousands) Washington and Oregon state public deposits $ 139,868 $ 128,842 $ 128,216 $ 130,217 Federal Reserve Bank credit facility 60,865 52,530 61,057 59,674 Securities sold under agreement to repurchase 69,358 62,647 59,887 59,655 Other securities pledged 49,941 45,739 56,419 55,633 Total $ 320,032 $ 289,758 $ 305,579 $ 305,179 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Financing Receivable Credit Quality Indicators [Table Text Block] | The amortized cost of loans receivable, net of ACL on loans, consisted of the following portfolio segments and classes at the dates indicated: June 30, December 31, (In thousands) Commercial business: Commercial and industrial $ 698,828 $ 621,567 SBA PPP 11,334 145,840 Owner-occupied CRE 950,699 931,150 Non-owner occupied CRE 1,515,796 1,493,099 Total commercial business 3,176,657 3,191,656 Residential real estate 265,382 164,582 Real estate construction and land development: Residential 90,546 85,547 Commercial and multifamily 128,060 141,336 Total real estate construction and land development 218,606 226,883 Consumer 213,419 232,541 Loans receivable 3,874,064 3,815,662 Allowance for credit losses on loans (39,696) (42,361) Loans receivable, net $ 3,834,368 $ 3,773,301 Balances included in the amortized cost of loans receivable: Unamortized net discount on acquired loans $ 3,084 $ 3,938 Unamortized net deferred fee $ 4,947 $ 7,954 The following table presents the amortized cost of loans receivable by risk grade at the dates indicated: June 30, 2022 Term Loans Revolving Loans Revolving Loans Converted (2) Loans Receivable 2022 2021 (1) 2020 2019 2018 Prior (In thousands) Commercial business: Commercial and industrial Pass $ 96,128 $ 101,302 $ 93,475 $ 73,299 $ 38,742 $ 90,980 $ 168,030 $ 45 $ 662,001 SM 234 253 729 4,842 8,764 2,981 1,619 — 19,422 SS 882 169 696 4,581 1,163 6,866 2,171 877 17,405 Total 97,244 101,724 94,900 82,722 48,669 100,827 171,820 922 698,828 SBA PPP Pass — 11,175 159 — — — — — 11,334 Owner-occupied CRE Pass 78,387 171,470 91,633 180,596 73,797 316,424 — — 912,307 SM — — — 1,698 2,573 12,042 — — 16,313 SS — 261 679 — 3,755 17,384 — — 22,079 Total 78,387 171,731 92,312 182,294 80,125 345,850 — — 950,699 Non-owner occupied CRE Pass 125,451 185,105 166,150 240,396 139,626 578,421 — — 1,435,149 SM — 8,435 — 3,652 — 16,655 — — 28,742 SS — — — — 3,626 48,279 — — 51,905 Total 125,451 193,540 166,150 244,048 143,252 643,355 — — 1,515,796 Total commercial business Pass 299,966 469,052 351,417 494,291 252,165 985,825 168,030 45 3,020,791 SM 234 8,688 729 10,192 11,337 31,678 1,619 — 64,477 SS 882 430 1,375 4,581 8,544 72,529 2,171 877 91,389 Total 301,082 478,170 353,521 509,064 272,046 1,090,032 171,820 922 3,176,657 Residential real estate Pass (1) 60,870 140,448 24,564 17,699 4,716 16,907 — — 265,204 SS — — — — — 178 — — 178 Total 60,870 140,448 24,564 17,699 4,716 17,085 — — 265,382 Real estate construction and land development: Residential Pass 21,664 43,877 10,330 12,002 1,005 1,668 — — 90,546 Commercial and multifamily Pass 8,832 75,096 23,991 6,952 3,186 2,013 — — 120,070 SM — — 1,871 5,714 — — — — 7,585 SS — — — — — 405 — — 405 Total 8,832 75,096 25,862 12,666 3,186 2,418 — — 128,060 Total real estate construction and land development Pass 30,496 118,973 34,321 18,954 4,191 3,681 — — 210,616 SM — — 1,871 5,714 — — — — 7,585 SS — — — — — 405 — — 405 Total 30,496 118,973 36,192 24,668 4,191 4,086 — — 218,606 June 30, 2022 Term Loans Revolving Loans Revolving Loans Converted (2) Loans Receivable 2022 2021 (1) 2020 2019 2018 Prior Consumer Pass 2,475 770 12,451 35,722 21,337 19,062 118,826 329 210,972 SS — — 169 558 366 1,346 8 — 2,447 Total 2,475 770 12,620 36,280 21,703 20,408 118,834 329 213,419 Loans receivable Pass 393,807 729,243 422,753 566,666 282,409 1,025,475 286,856 374 3,707,583 SM 234 8,688 2,600 15,906 11,337 31,678 1,619 — 72,062 SS 882 430 1,544 5,139 8,910 74,458 2,179 877 94,419 Total $ 394,923 $ 738,361 $ 426,897 $ 587,711 $ 302,656 $ 1,131,611 $ 290,654 $ 1,251 $ 3,874,064 (1) The 2021 origination year includes $42.2 million of pass grade residential real estate loans purchased during the six months ended June 30, 2022 which were originated during the year ended December 31, 2021. (2) Represents the loans receivable balance at June 30, 2022 which was converted from a revolving loan to an amortizing loan during the six months ended June 30, 2022. December 31, 2021 Term Loans Revolving Loans Revolving Loans Converted (1) Loans Receivable 2021 2020 2019 2018 2017 Prior (In thousands) Commercial business: Commercial and industrial Pass $ 95,960 $ 100,193 $ 94,657 $ 54,707 $ 28,558 $ 77,294 $ 127,651 $ 1,035 $ 580,055 SM 326 884 5,998 1,425 2,223 2,401 2,048 353 15,658 SS 1,443 1,287 5,912 2,809 2,526 6,907 4,402 568 25,854 Total 97,729 102,364 106,567 58,941 33,307 86,602 134,101 1,956 621,567 SBA PPP Pass 139,253 6,587 — — — — — — 145,840 Owner-occupied CRE Pass 182,742 90,609 188,380 73,714 66,039 273,518 — 72 875,074 SM 264 — 3,079 7,521 3,937 16,724 — — 31,525 SS — 1,332 — 3,787 3,014 16,418 — — 24,551 Total 183,006 91,941 191,459 85,022 72,990 306,660 — 72 931,150 Non-owner-occupied CRE Pass 187,860 185,650 244,863 149,090 144,896 499,486 — — 1,411,845 SM — — 5,674 — 15,482 2,400 — — 23,556 SS — — — 3,379 — 54,319 — — 57,698 Total 187,860 185,650 250,537 152,469 160,378 556,205 — — 1,493,099 Total commercial business Pass 605,815 383,039 527,900 277,511 239,493 850,298 127,651 1,107 3,012,814 SM 590 884 14,751 8,946 21,642 21,525 2,048 353 70,739 SS 1,443 2,619 5,912 9,975 5,540 77,644 4,402 568 108,103 Total 607,848 386,542 548,563 296,432 266,675 949,467 134,101 2,028 3,191,656 Residential real estate Pass 85,089 27,090 23,295 5,672 6,141 16,891 — — 164,178 SS — — — — — 404 — — 404 Total 85,089 27,090 23,295 5,672 6,141 17,295 — — 164,582 December 31, 2021 Term Loans Revolving Loans Revolving Loans Converted (1) Loans Receivable 2021 2020 2019 2018 2017 Prior (In thousands) Real estate construction and land development: Residential Pass 44,892 23,728 12,266 2,921 389 1,351 — — 85,547 Commercial and multifamily Pass 56,448 41,616 34,117 5,794 710 1,379 — — 140,064 SM — — 68 — — 213 — — 281 SS — 571 — — — 420 — — 991 Total 56,448 42,187 34,185 5,794 710 2,012 — — 141,336 Total real estate construction and land development Pass 101,340 65,344 46,383 8,715 1,099 2,730 — — 225,611 SM — — 68 — — 213 — — 281 SS — 571 — — — 420 — — 991 Total 101,340 65,915 46,451 8,715 1,099 3,363 — — 226,883 Consumer Pass 1,286 15,737 46,041 29,819 15,068 13,026 108,492 120 229,589 SS — 181 657 476 542 1,043 36 17 2,952 Total 1,286 15,918 46,698 30,295 15,610 14,069 108,528 137 232,541 Loans receivable Pass 793,530 491,210 643,619 321,717 261,801 882,945 236,143 1,227 3,632,192 SM 590 884 14,819 8,946 21,642 21,738 2,048 353 71,020 SS 1,443 3,371 6,569 10,451 6,082 79,511 4,438 585 112,450 Total $ 795,563 $ 495,465 $ 665,007 $ 341,114 $ 289,525 $ 984,194 $ 242,629 $ 2,165 $ 3,815,662 (1) Represents the loans receivable balance at December 31, 2021 which was converted from a revolving loan to an amortizing loan during the year ended December 31, 2021. |
Schedule of nonaccrual loans | The following tables present the amortized cost of nonaccrual loans for the dates indicated: June 30, 2022 Nonaccrual without ACL Nonaccrual with ACL Total Nonaccrual (In thousands) Commercial business: Commercial and industrial $ 5,604 $ 569 $ 6,173 Owner-occupied CRE — 4,302 4,302 Total $ 5,604 $ 4,871 $ 10,475 December 31, 2021 Nonaccrual without ACL Nonaccrual with ACL Total Nonaccrual (In thousands) Commercial business: Commercial and industrial $ 6,454 $ 3,827 $ 10,281 Owner-occupied CRE 3,036 5,138 8,174 Non-owner occupied CRE 1,273 3,379 4,652 Total commercial business 10,763 12,344 23,107 Residential real estate — 47 47 December 31, 2021 Nonaccrual without ACL Nonaccrual with ACL Total Nonaccrual (In thousands) Real estate construction and land development: Commercial and multifamily — 571 571 Consumer — 29 29 Total $ 10,763 $ 12,991 $ 23,754 The following table presents the reversal of interest income on loans due to the write-off of accrued interest receivable upon the initial classification of loans as nonaccrual loans and the interest income recognized due to payment in full or sale of previously classified nonaccrual loans during the following periods: Three Months Ended Three Months Ended Interest Income Reversed Interest Income Recognized Interest Income Reversed Interest Income Recognized (In thousands) Commercial business: Commercial and industrial $ (12) $ 90 $ (5) $ 1,981 Owner-occupied CRE — — — 3 Total $ (12) $ 90 $ (5) $ 1,984 Six Months Ended Six Months Ended Interest Income Reversed Interest Income Recognized Interest Income Reversed Interest Income Recognized (in thousands) Commercial business: Commercial and industrial $ (14) $ 229 $ (10) $ 2,044 Owner-occupied CRE — 53 — 117 Non-owner occupied CRE — 774 — 313 Total commercial business (14) 1,056 (10) 2,474 Residential real estate — 19 — — Real estate construction and land development: Residential — — — 73 Consumer — 68 — — Total $ (14) $ 1,143 $ (10) $ 2,547 |
Financing Receivable, Past Due [Table Text Block] | The amortized cost of past due loans as of June 30, 2022 and December 31, 2021 were as follows: June 30, 2022 30-89 Days 90 Days or Total Past Current Loans Receivable (In thousands) Commercial business: Commercial and industrial $ 259 $ 7,190 $ 7,449 $ 691,379 $ 698,828 SBA PPP — — — 11,334 11,334 Owner-occupied CRE 1,056 189 1,245 949,454 950,699 Non-owner occupied CRE — — — 1,515,796 1,515,796 June 30, 2022 30-89 Days 90 Days or Total Past Current Loans Receivable (In thousands) Total commercial business 1,315 7,379 8,694 3,167,963 3,176,657 Residential real estate — — — 265,382 265,382 Real estate construction and land development: Residential — — — 90,546 90,546 Commercial and multifamily — — — 128,060 128,060 Total real estate construction and land development — — — 218,606 218,606 Consumer 651 199 850 212,569 213,419 Total $ 1,966 $ 7,578 $ 9,544 $ 3,864,520 $ 3,874,064 December 31, 2021 30-89 Days 90 Days or Total Past Current Loans Receivable (In thousands) Commercial business: Commercial and industrial $ 1,858 $ 6,821 $ 8,679 $ 612,888 $ 621,567 SBA PPP 223 293 516 145,324 145,840 Owner-occupied CRE 2,397 112 2,509 928,641 931,150 Non-owner occupied CRE — — — 1,493,099 1,493,099 Total commercial business 4,478 7,226 11,704 3,179,952 3,191,656 Residential real estate 420 10 430 164,152 164,582 Real estate construction and land development: Residential 792 — 792 84,755 85,547 Commercial and multifamily 3,474 571 4,045 137,291 141,336 Total real estate construction and land development 4,266 571 4,837 222,046 226,883 Consumer 1,026 — 1,026 231,515 232,541 Total $ 10,190 $ 7,807 $ 17,997 $ 3,797,665 $ 3,815,662 |
Loans and Lease Receivable Collateral for Secured Borrowings [Table Text Block] | The type of collateral securing loans individually evaluated for credit losses and for which the repayment was expected to be provided substantially through the operation or sale of the collateral as of June 30, 2022 and December 31, 2021 was as follows, with b alances representing the amortized cost of the loan classified by the primary collateral category of each loan if multiple collateral sources secure the loan : June 30, 2022 CRE Farmland Residential Real Estate Total (In thousands) Commercial business: Commercial and industrial $ 1,239 $ 2,492 $ 1,316 $ 5,047 Owner-occupied CRE 189 — — 189 Total $ 1,428 $ 2,492 $ 1,316 $ 5,236 December 31, 2021 CRE Farmland Residential Real Estate Other Total (In thousands) Commercial business: December 31, 2021 CRE Farmland Residential Real Estate Other Total (In thousands) Commercial and industrial $ 1,499 $ 4,362 $ 1,036 $ 245 $ 7,142 Owner-occupied CRE 3,035 — — — 3,035 Non-owner occupied CRE 1,273 — — — 1,273 Total commercial business 5,807 4,362 1,036 245 11,450 Real estate construction and land development: Commercial and multifamily 571 — — — 571 Total $ 6,378 $ 4,362 $ 1,036 $ 245 $ 12,021 |
Loans Receivable | Loans that were modified as TDR loans are set forth in the following table for the periods indicated: Three Months Ended June 30, 2022 2021 Number of Amortized Cost (1) (2) Number of Amortized Cost (1) (2) (Dollars in thousands) Commercial business: Commercial and industrial 3 $ 1,727 18 $ 5,673 Owner-occupied CRE — — 1 2,200 Non-owner occupied CRE — — 1 251 Total commercial business 3 1,727 20 8,124 Real estate construction and land development: Commercial and multifamily — — 1 443 Consumer 3 44 6 146 Total 6 $ 1,771 27 $ 8,713 Six Months Ended June 30, 2022 2021 Number of Amortized Cost (1) (2) Number of Amortized Cost (1) (2) (Dollars in thousands) Commercial business: Commercial and industrial 4 $ 2,610 31 $ 8,713 Owner-occupied CRE — — 2 5,857 Non-owner occupied CRE — — 2 2,222 Total commercial business 4 2,610 35 16,792 Residential real estate — — 1 181 Real estate construction and land development: Commercial and multifamily — — 1 443 Consumer 8 95 21 511 Total 12 $ 2,705 58 $ 17,927 (1) Number of contracts and amortized cost represent loans which have balances as of period end, net of subsequent payments after modifications. Certain TDR loans may have been paid-down or charged-off during the six months ended June 30, 2022 and 2021. (2) As the Bank did not forgive any principal or interest balance as part of the loan modifications, the Bank’s amortized cost in each loan at the date of modification (pre-modification) did not change as a result of the modification (post-modification). |
Troubled debt restructuring loans, subsequently defaulted | The following table presents loans that were modified in a TDR and subsequently defaulted within twelve months from the modification date during the periods indicated: Three Months Ended June 30, 2022 2021 Number of Contracts (1) Amortized Cost (1) Number of Contracts (1) Amortized Cost (1) (Dollars in thousands) Commercial business: Commercial and industrial — $ — 1 $ 46 Six Months Ended June 30, 2022 2021 Number of Contracts (1) Amortized Cost (1) Number of Contracts (1) Amortized Cost (1) (Dollars in thousands) Commercial business: Commercial and industrial — $ — 2 $ 789 Owner-occupied CRE 1 189 — — (1) Number of contracts and amortized cost represent TDR loans which have balances as of period end, net of subsequent payments after modifications. Certain TDR loans may have been paid-down or charged-off during the six months ended June 30, 2022 and 2021. |
Troubled debt restructurings on financing receivables | Loans that were modified as TDR loans are set forth in the following table for the periods indicated: Three Months Ended June 30, 2022 2021 Number of Amortized Cost (1) (2) Number of Amortized Cost (1) (2) (Dollars in thousands) Commercial business: Commercial and industrial 3 $ 1,727 18 $ 5,673 Owner-occupied CRE — — 1 2,200 Non-owner occupied CRE — — 1 251 Total commercial business 3 1,727 20 8,124 Real estate construction and land development: Commercial and multifamily — — 1 443 Consumer 3 44 6 146 Total 6 $ 1,771 27 $ 8,713 Six Months Ended June 30, 2022 2021 Number of Amortized Cost (1) (2) Number of Amortized Cost (1) (2) (Dollars in thousands) Commercial business: Commercial and industrial 4 $ 2,610 31 $ 8,713 Owner-occupied CRE — — 2 5,857 Non-owner occupied CRE — — 2 2,222 Total commercial business 4 2,610 35 16,792 Residential real estate — — 1 181 Real estate construction and land development: Commercial and multifamily — — 1 443 Consumer 8 95 21 511 Total 12 $ 2,705 58 $ 17,927 (1) Number of contracts and amortized cost represent loans which have balances as of period end, net of subsequent payments after modifications. Certain TDR loans may have been paid-down or charged-off during the six months ended June 30, 2022 and 2021. (2) As the Bank did not forgive any principal or interest balance as part of the loan modifications, the Bank’s amortized cost in each loan at the date of modification (pre-modification) did not change as a result of the modification (post-modification). |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Schedule of changes in allowance for loan losses | A summary of the changes in the ACL on loans during the six months ended June 30, 2022 and 2021 is as follows: Six Months Ended 2022 2021 (In thousands) Beginning balance $ 42,361 $ 70,185 Charge-offs (604) (320) Recoveries of loans previously charged-off 1,110 653 Reversal of provision for credit losses on loans (3,171) (18,956) Ending balance $ 39,696 $ 51,562 The following tables detail the activity in the ACL on loans by segment and class for the periods indicated: Three Months Ended June 30, 2022 Beginning Balance Charge-offs Recoveries (Reversal of) Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 15,265 $ (117) $ 149 $ (1,264) $ 14,033 Owner-occupied CRE 7,085 — — 1,077 8,162 Non-owner occupied CRE 9,582 — — (70) 9,512 Total commercial business 31,932 (117) 149 (257) 31,707 Residential real estate 1,803 — — 334 2,137 Real estate construction and land development: Residential 1,124 — 6 (49) 1,081 Commercial and multifamily 3,175 — 53 (1,025) 2,203 Total real estate construction and land development 4,299 — 59 (1,074) 3,284 Consumer 2,299 (132) 53 348 2,568 Total $ 40,333 $ (249) $ 261 $ (649) $ 39,696 Six Months Ended June 30, 2022 Beginning Balance Charge-offs Recoveries (Reversal of) Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 17,777 $ (280) $ 421 $ (3,885) $ 14,033 Owner-occupied CRE 6,411 (36) — 1,787 8,162 Non-owner occupied CRE 8,861 — — 651 9,512 Total commercial business 33,049 (316) 421 (1,447) 31,707 Residential real estate 1,409 (30) 3 755 2,137 Real estate construction and land development: Residential 1,304 — 14 (237) 1,081 Commercial and multifamily 3,972 — 53 (1,822) 2,203 Total real estate construction and land development 5,276 — 67 (2,059) 3,284 Consumer 2,627 (258) 619 (420) 2,568 Total $ 42,361 $ (604) $ 1,110 $ (3,171) $ 39,696 Three Months Ended June 30, 2021 Beginning Balance Charge-offs Recoveries (Reversal of) Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 21,770 $ (13) $ 132 $ (4,404) $ 17,485 Owner-occupied CRE 10,464 — 11 (1,913) 8,562 Non-owner occupied CRE 12,970 — — (2,340) 10,630 Total commercial business 45,204 (13) 143 (8,657) 36,677 Residential real estate 1,402 — — (249) 1,153 Real estate construction and land development: Residential 2,048 — 4 (416) 1,636 Commercial and multifamily 11,223 — — (2,388) 8,835 Total real estate construction and land development 13,271 — 4 (2,804) 10,471 Consumer 4,348 (120) 144 (1,111) 3,261 Total $ 64,225 $ (133) $ 291 $ (12,821) $ 51,562 Six Months Ended June 30, 2021 Beginning Balance Charge-offs Recoveries (Reversal of) Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 30,010 $ (14) $ 337 $ (12,848) $ 17,485 Owner-occupied CRE 9,486 — 13 (937) 8,562 Non-owner occupied CRE 10,112 — — 518 10,630 Total commercial business 49,608 (14) 350 (13,267) 36,677 Residential real estate 1,591 — — (438) 1,153 Real estate construction and land development: Residential 1,951 — 20 (335) 1,636 Commercial and multifamily 11,141 (1) — (2,305) 8,835 Total real estate construction and land development 13,092 (1) 20 (2,640) 10,471 Consumer 5,894 (305) 283 (2,611) 3,261 Total $ 70,185 $ (320) $ 653 $ (18,956) $ 51,562 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of notional amounts and estimated fair values of interest rate derivative contracts | The following table presents the notional amounts and estimated fair values of interest rate derivative contracts outstanding at the dates indicated: June 30, 2022 December 31, 2021 Notional Amounts Estimated Fair Value Notional Amounts Estimated Fair Value (In thousands) Non-hedging interest rate derivatives Interest rate swap asset (1) $ 305,902 19,842 $ 322,726 $ 15,219 Interest rate swap liability (1) 305,902 (19,842) 322,726 (15,286) (1) The estimated fair value of derivatives with customers was $(19.0) million and $9.8 million as of June 30, 2022 and December 31, 2021, respectively. The estimated fair value of derivatives with third-parties was $19.0 million and $(9.8) million as of June 30, 2022 and December 31, 2021, respectively. |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
Schedule of earnings per share reconciliation | The following table illustrates the calculation of weighted average shares used for earnings per common share computations for the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In thousands, except shares) Net income $ 18,584 $ 32,702 $ 38,341 $ 58,046 Basic: Weighted average common shares outstanding 35,110,334 35,994,740 35,102,572 35,961,032 Diluted: Basic weighted average common shares outstanding 35,110,334 35,994,740 35,102,572 35,961,032 Effect of potentially dilutive common shares (1) 299,190 294,724 310,150 307,829 Total diluted weighted average common shares outstanding 35,409,524 36,289,464 35,412,722 36,268,861 Potentially dilutive shares that were excluded from the computation of diluted earnings per share because to do so would be anti-dilutive (2) 16,978 7,065 14,334 4,766 (1) Represents the effect of the vesting of restricted stock units. (2) Anti-dilution occurs when the unrecognized compensation cost per share of a restricted stock unit exceeds the market price of the Company’s stock. |
Schedule of dividends activity | The following table summarizes the dividend activity during the six months ended June 30, 2022 and the calendar year 2021: Declared Cash Dividend per Share Record Date Paid Date January 27, 2021 $0.20 February 10, 2021 February 24, 2021 April 21, 2021 $0.20 May 5, 2021 May 19, 2021 July 21, 2021 $0.20 August 4, 2021 August 18, 2021 October 20, 2021 $0.21 November 3, 2021 November 17, 2021 January 26, 2022 $0.21 February 9, 2022 February 23, 2022 April 20, 2022 $0.21 May 4, 2022 May 18, 2022 |
Stock Repurchased During Period | The following table provides total repurchased shares and average share prices under the plan for the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 Plan Total (1) Repurchased shares 19,531 — 100,090 — 1,160,840 Stock repurchase average share price $ 24.63 $ — $ 25.07 $ — $ 23.94 (1) Represents shares repurchased and average price per share paid during the duration of the plan. |
Schedule of repurchased shares | The following table provides total shares repurchased to pay withholding taxes during the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 Repurchased shares to pay withholding taxes 1,649 2,557 26,180 25,803 Stock repurchase to pay withholding taxes average share price $ 24.43 $ 27.47 $ 25.40 $ 29.33 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements of assets on a recurring basis | The following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis at the dates indicated: June 30, 2022 Total Level 1 Level 2 Level 3 (In thousands) Assets Investment securities available for sale: U.S. government and agency securities $ 65,668 $ 19,939 $ 45,729 $ — Municipal securities 200,010 — 200,010 — Residential CMO and MBS 398,156 — 398,156 — June 30, 2022 Total Level 1 Level 2 Level 3 (In thousands) Commercial CMO and MBS 493,620 — 493,620 — Corporate obligations 5,978 — 5,978 — Other asset-backed securities 24,156 — 24,156 — Total investment securities available for sale 1,187,588 19,939 1,167,649 — Equity security 186 186 — — Derivative assets - interest rate swaps 19,842 — 19,842 — Liabilities Derivative liabilities - interest rate swaps $ 19,842 $ — $ 19,842 $ — December 31, 2021 Total Level 1 Level 2 Level 3 (In thousands) Assets Investment securities available for sale: U.S. government and agency securities $ 21,373 $ — $ 21,373 $ — Municipal securities 221,212 — 221,212 — Residential CMO and MBS 306,884 — 306,884 — Commercial CMO and MBS 315,861 — 315,861 — Corporate obligations 2,014 — 2,014 — Other asset-backed securities 26,991 — 26,991 — Total investment securities available for sale 894,335 — 894,335 — Equity security 240 240 — — Derivative assets - interest rate swaps 15,219 — 15,219 — Liabilities Derivative liabilities - interest rate swaps $ 15,286 $ — $ 15,286 $ — |
Fair value measurements of assets on a nonrecurring basis | The following tables represent assets measured at fair value on a nonrecurring basis at the dates indicated: Fair Value at June 30, 2022 Basis (1) Total Level 1 Level 2 Level 3 (In thousands) Collateral-dependent loans: Commercial business: Commercial and industrial $ 1,054 $ 969 $ — $ — $ 969 Owner-occupied CRE 613 186 — — 186 Total assets measured at fair value on a nonrecurring basis $ 1,667 $ 1,155 $ — $ — $ 1,155 (1) Basis represents the outstanding principal balance of collateral-dependent loans. Fair Value at December 31, 2021 Basis (1) Total Level 1 Level 2 Level 3 (In thousands) Collateral-dependent loans: Commercial business: Commercial and industrial $ 1,911 $ 1,049 $ — $ — $ 1,049 Owner-occupied CRE 613 189 — — 189 Total commercial business 2,524 1,238 — — 1,238 Real estate construction and land development: Commercial and multifamily 991 $ 534 — — 534 Total 3,515 1,772 — — 1,772 Prepaid expenses and other assets: Branch held for sale (2) 698 698 — — 698 Total assets measured at fair value on a nonrecurring basis $ 4,213 $ 2,470 $ — $ — $ 2,470 (1) Basis represents the outstanding principal balance of collateral-dependent loans and the carrying value of the branch held for sale. (2) In December 2021, one branch was written down to its net realizable value concurrent with the signing of an agreement for sale at a future date. The following table represents the net (loss) gain recorded in earnings as a result of nonrecurring fair value adjustments recorded during the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In thousands) Collateral-dependent loans: Commercial business: Commercial and industrial $ 35 $ 6 $ 23 $ (28) Owner-occupied CRE (3) (76) (3) (76) Total commercial business 32 (70) 20 (104) Real estate construction and land development: Commercial and multifamily — (23) — (38) Net loss from nonrecurring fair value adjustments $ 32 $ (93) $ 20 $ (142) |
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the dates indicated: June 30, 2022 Fair Valuation Unobservable Input(s) Range of Inputs; Weighted (Dollars in thousands) Collateral-dependent loans $ 1,155 Market approach Adjustment for differences between the comparable sales N/A (1) (1) Quantitative disclosures are not provided for collateral-dependent loans because there were no adjustments made to the appraisal or stated values during the current period. December 31, 2021 Fair Valuation Unobservable Input(s) Range of Inputs; Weighted (Dollars in thousands) Collateral-dependent loans $ 1,772 Market approach Adjustment for differences between the comparable sales 35.0% - (11.0%); 13.8% Branch held for sale $ 698 Market approach Sale agreement Not applicable |
Schedule of carrying value and fair value of financial instruments | The following tables present the carrying value amount of the Company’s financial instruments and their corresponding estimated fair values at the dates indicated: June 30, 2022 Carrying Fair Fair Value Measurements Using: Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and cash equivalents $ 994,055 $ 994,055 $ 994,055 $ — $ — Investment securities available for sale 1,187,588 1,187,588 19,939 1,167,649 — Investment securities held to maturity 615,653 559,312 — 559,312 — Loans held for sale 1,311 1,353 — 1,353 — Loans receivable, net 3,834,368 3,760,294 — — 3,760,294 Accrued interest receivable 15,908 15,908 272 6,185 9,451 Derivative assets - interest rate swaps 19,842 19,842 — 19,842 — Equity security 186 186 186 — — Financial Liabilities: Non-maturity deposits $ 6,019,421 $ 6,019,421 $ 6,019,421 $ — $ — Certificates of deposit 310,769 311,481 — 311,481 — Securities sold under agreement to repurchase 41,827 41,827 41,827 — — Junior subordinated debentures 21,326 19,250 — — 19,250 Accrued interest payable 83 83 31 16 36 Derivative liabilities - interest rate swaps 19,842 19,842 — 19,842 — December 31, 2021 Carrying Fair Fair Value Measurements Using: Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and cash equivalents $ 1,723,292 $ 1,723,292 $ 1,723,292 $ — $ — Investment securities available for sale 894,335 894,335 — 894,335 — Investment securities held to maturity 383,393 376,331 — 376,331 — Loans held for sale 1,476 1,527 — 1,527 — Loans receivable, net 3,773,301 3,849,602 — — 3,849,602 Accrued interest receivable 14,657 14,657 14 4,582 10,061 Derivative assets - interest rate swaps 15,219 15,219 — 15,219 — Equity security 240 240 240 — — Financial Liabilities: Non-maturity deposits $ 6,038,498 $ 6,038,498 $ 6,038,498 $ — $ — Certificates of deposit 342,839 344,025 — 344,025 — Securities sold under agreement to repurchase 50,839 50,839 50,839 — — Junior subordinated debentures 21,180 18,750 — — 18,750 Accrued interest payable 73 73 33 19 21 Derivative liabilities - interest rate swaps 15,286 15,286 — 15,286 — |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Outstanding Commitments to Extend Credit and Letters of Credit [Table Text Block] | The following table presents outstanding commitments to extend credit, including letters of credit, at the dates indicated: June 30, December 31, 2021 (In thousands) Commercial business: Commercial and industrial $ 553,134 $ 570,156 Owner-occupied CRE 3,612 2,252 Non-owner occupied CRE 13,310 7,487 Total commercial business 570,056 579,895 Real estate construction and land development: Residential 52,374 51,838 Commercial and multifamily 217,177 209,217 Total real estate construction and land development 269,551 261,055 Consumer 307,906 285,010 Total outstanding commitments $ 1,147,513 $ 1,125,960 |
Allowance For Credit Losses And Allowance for Unfunded Commitments And Letters Of Credit | The following table details the activity in the ACL on unfunded commitments during the periods indicated: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In thousands) Balance, beginning of period $ 1,552 $ 3,617 $ 2,607 $ 4,681 Reversal of provision for credit losses on unfunded commitments (555) (1,166) (1,610) (2,230) Balance, end of period $ 997 $ 2,451 $ 997 $ 2,451 |
Description of Business, Basi_3
Description of Business, Basis of Presentation and Significant Accounting Policies and Recently Issued Accounting Pronouncements (Details) | Jun. 30, 2022 branch |
Heritage Bank [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Number of Branches Operating | 50 |
Investment Securities - Textual
Investment Securities - Textual (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Total investment securities | $ 559,312 | $ 376,331 | |
Debt Securities, Available-for-sale, Allowance for Credit Loss | 0 | 0 | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | ||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | $ 0 | |
Debt Securities, Available-for-Sale, Accrued Interest Writeoff | 0 | $ 0 | |
Debt Securities, Held-to-Maturity, Accrued Interest, Writeoff | $ 0 | $ 0 | |
Concentration, debt securities | 0% | 0% | |
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | $ 615,653 | $ 383,393 | |
Debt Securities, Held-to-maturity, Nonaccrual | 0 | 0 | |
Debt Securities, Held-to-maturity, 90 Days or More Past Due, Still Accruing | 0 | 0 | |
Total investment securities available for sale | 1,187,588 | 894,335 | |
Available-for-sale Securities [Member] | |||
Accrued Investment Income Receivable | 4,600 | 3,500 | |
Held-to-maturity Securities | |||
Accrued Investment Income Receivable | $ 1,800 | $ 1,100 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost, Gross Unrealized Gains and Losses and Fair Values (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Investment Holdings [Line Items] | ||
Amortized cost | $ 1,267,715 | |
Fair Value | 1,187,588 | $ 894,335 |
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 615,653 | 383,393 |
Total investment securities | 559,312 | 376,331 |
Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Fair Value | 1,187,588 | 894,335 |
Level 2 | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Amortized cost | 1,267,715 | 883,832 |
Gross Unrealized Gains | 1,519 | 15,341 |
Gross Unrealized Losses | (81,646) | (4,838) |
Fair Value | 1,167,649 | 894,335 |
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 615,653 | 383,393 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 257 | 120 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (56,598) | (7,182) |
Total investment securities | 559,312 | 376,331 |
U.S. government and agency securities | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Fair Value | 65,668 | 21,373 |
U.S. government and agency securities | Level 2 | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Amortized cost | 68,912 | 21,494 |
Gross Unrealized Gains | 0 | 55 |
Gross Unrealized Losses | (3,244) | (176) |
Fair Value | 45,729 | 21,373 |
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 150,960 | 141,011 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 120 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (23,416) | (1,768) |
Total investment securities | 127,544 | 139,363 |
Municipal securities | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Fair Value | 200,010 | 221,212 |
Municipal securities | Level 2 | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Amortized cost | 213,402 | 213,158 |
Gross Unrealized Gains | 977 | 8,908 |
Gross Unrealized Losses | (14,369) | (854) |
Fair Value | 200,010 | 221,212 |
Residential CMO and MBS | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Fair Value | 398,156 | 306,884 |
Residential CMO and MBS | Level 2 | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Amortized cost | 433,903 | 307,366 |
Gross Unrealized Gains | 70 | 2,111 |
Gross Unrealized Losses | (35,817) | (2,593) |
Fair Value | 398,156 | 306,884 |
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 159,007 | 24,529 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 257 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (5,774) | (153) |
Total investment securities | 153,490 | 24,376 |
Commercial CMO and MBS | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Fair Value | 493,620 | 315,861 |
Commercial CMO and MBS | Level 2 | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Amortized cost | 520,772 | 313,169 |
Gross Unrealized Gains | 466 | 3,891 |
Gross Unrealized Losses | (27,618) | (1,199) |
Fair Value | 493,620 | 315,861 |
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 305,686 | 217,853 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (27,408) | (5,261) |
Total investment securities | 278,278 | 212,592 |
Corporate obligations | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Fair Value | 5,978 | 2,014 |
Corporate obligations | Level 2 | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Amortized cost | 6,003 | 2,007 |
Gross Unrealized Gains | 0 | 7 |
Gross Unrealized Losses | (25) | 0 |
Fair Value | 5,978 | 2,014 |
Other asset-backed securities | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Fair Value | 24,156 | 26,991 |
Other asset-backed securities | Level 2 | Fair Value, Recurring [Member] | ||
Investment Holdings [Line Items] | ||
Amortized cost | 24,723 | 26,638 |
Gross Unrealized Gains | 6 | 369 |
Gross Unrealized Losses | (573) | (16) |
Fair Value | $ 24,156 | $ 26,991 |
Investment Securities - Contrac
Investment Securities - Contractual Maturities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Amortized Cost | ||
Due in one year or less | $ 8,283 | |
Due after one year through five years | 82,106 | |
Due after five years through ten years | 67,161 | |
Due after ten years | 130,767 | |
Amortized cost | 1,267,715 | |
Fair Value | ||
Due in one year or less | 8,306 | |
Due after one year through five years | 80,881 | |
Due after five years through ten years | 65,321 | |
Due after ten years | 117,148 | |
Fair Value | 1,187,588 | $ 894,335 |
Amortized Cost | ||
Due in one year or less | 0 | |
Due after one year through five years | 0 | |
Due after five years through ten years | 83,210 | |
Due after ten years | 67,750 | |
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 615,653 | 383,393 |
Fair Value | ||
Due in one year or less | 0 | |
Due after one year through five years | 0 | |
Due after five years through ten years | 72,516 | |
Due after ten years | 55,028 | |
Total investment securities | 559,312 | $ 376,331 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 288,317 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 271,656 | |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date | 150,960 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value | 127,544 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | 979,398 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | 915,932 | |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, without Single Maturity Date | 464,693 | |
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Fair Value | $ 431,768 |
Investment Securities - Unreali
Investment Securities - Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value | ||
Less than 12 Months | $ 954,346 | $ 334,687 |
12 Months or Longer | 57,820 | 32,267 |
Total | 1,012,166 | 366,954 |
Unrealized Losses | ||
Less than 12 Months | (74,450) | (4,435) |
12 Months or Longer | (7,196) | (403) |
Total | (81,646) | (4,838) |
US Treasury and Government [Member] | ||
Fair Value | ||
Less than 12 Months | 64,200 | 14,828 |
12 Months or Longer | 1,468 | 0 |
Total | 65,668 | 14,828 |
Unrealized Losses | ||
Less than 12 Months | (2,995) | (176) |
12 Months or Longer | (249) | 0 |
Total | (3,244) | (176) |
Municipal securities | ||
Fair Value | ||
Less than 12 Months | 106,205 | 29,774 |
12 Months or Longer | 15,712 | 9,351 |
Total | 121,917 | 39,125 |
Unrealized Losses | ||
Less than 12 Months | (11,287) | (619) |
12 Months or Longer | (3,082) | (235) |
Total | (14,369) | (854) |
Residential CMO and MBS | ||
Fair Value | ||
Less than 12 Months | 352,074 | 204,039 |
12 Months or Longer | 31,008 | 19,862 |
Total | 383,082 | 223,901 |
Unrealized Losses | ||
Less than 12 Months | (32,446) | (2,470) |
12 Months or Longer | (3,371) | (123) |
Total | (35,817) | (2,593) |
Commercial CMO and MBS | ||
Fair Value | ||
Less than 12 Months | 406,835 | 83,283 |
12 Months or Longer | 8,711 | 1,936 |
Total | 415,546 | 85,219 |
Unrealized Losses | ||
Less than 12 Months | (27,145) | (1,161) |
12 Months or Longer | (473) | (38) |
Total | (27,618) | (1,199) |
Corporate Debt Securities [Member] | ||
Fair Value | ||
Less than 12 Months | 5,978 | |
12 Months or Longer | 0 | |
Total | 5,978 | |
Unrealized Losses | ||
Less than 12 Months | (25) | |
12 Months or Longer | 0 | |
Total | (25) | |
Other asset-backed securities | ||
Fair Value | ||
Less than 12 Months | 19,054 | 2,763 |
12 Months or Longer | 921 | 1,118 |
Total | 19,975 | 3,881 |
Unrealized Losses | ||
Less than 12 Months | (552) | (9) |
12 Months or Longer | (21) | (7) |
Total | $ (573) | $ (16) |
Investment Securities - Realize
Investment Securities - Realized Gains and Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gross realized gains | $ 0 | $ 0 | $ 0 | $ 29 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Scheduled of amortized cost and fair value of securities pledged as collateral | ||
Amortized Cost | $ 320,032 | $ 305,579 |
Fair Value | 289,758 | 305,179 |
Washington and Oregon State to Secure Public Deposits [Member] | ||
Scheduled of amortized cost and fair value of securities pledged as collateral | ||
Amortized Cost | 139,868 | 128,216 |
Fair Value | 128,842 | 130,217 |
Federal Reserve Bank Advances | ||
Scheduled of amortized cost and fair value of securities pledged as collateral | ||
Amortized Cost | 60,865 | 61,057 |
Fair Value | 52,530 | 59,674 |
Repurchase Agreements [Member] | ||
Scheduled of amortized cost and fair value of securities pledged as collateral | ||
Amortized Cost | 69,358 | 59,887 |
Fair Value | 62,647 | 59,655 |
Other securities pledged | ||
Scheduled of amortized cost and fair value of securities pledged as collateral | ||
Amortized Cost | 49,941 | 56,419 |
Fair Value | $ 45,739 | $ 55,633 |
Loans Receivable - Loan Origina
Loans Receivable - Loan Origination/Risk Management (Details) $ in Thousands | 6 Months Ended | |||||
Jun. 30, 2022 USD ($) segment | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) | Mar. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Accrued interest receivable | $ 15,908 | $ 14,657 | ||||
Number of loan segments | segment | 4 | |||||
Loans receivable | $ 3,874,064 | 3,815,662 | ||||
Allowance for credit losses on loans | 39,696 | $ 40,333 | 42,361 | $ 51,562 | $ 64,225 | $ 70,185 |
Loans and Leases Receivable, Net Amount | 3,834,368 | 3,773,301 | ||||
Financing Receivable, Unamortized Purchase Premium (Discount) | 3,084 | 3,938 | ||||
Financing Receivable, Unamortized Loan Fee (Cost) and Purchase Premium (Discount) | 4,947 | 7,954 | ||||
Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Accrued interest receivable | 9,500 | 10,100 | ||||
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 3,176,657 | 3,191,656 | ||||
Allowance for credit losses on loans | 31,707 | 31,932 | 33,049 | 36,677 | 45,204 | 49,608 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 698,828 | 621,567 | ||||
Allowance for credit losses on loans | 14,033 | 15,265 | 17,777 | 17,485 | 21,770 | 30,010 |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 950,699 | 931,150 | ||||
Allowance for credit losses on loans | 8,162 | 7,085 | 6,411 | 8,562 | 10,464 | 9,486 |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 1,515,796 | 1,493,099 | ||||
Allowance for credit losses on loans | 9,512 | 9,582 | 8,861 | 10,630 | 12,970 | 10,112 |
Commercial Portfolio Segment [Member] | Paycheck Protection Program | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 11,334 | 145,840 | ||||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 11,334 | 145,840 | ||||
Residential Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 265,382 | 164,582 | ||||
Allowance for credit losses on loans | 2,137 | 1,803 | 1,409 | 1,153 | 1,402 | 1,591 |
Real Estate Construction and Land Development | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 218,606 | 226,883 | ||||
Allowance for credit losses on loans | 3,284 | 4,299 | 5,276 | 10,471 | 13,271 | 13,092 |
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 90,546 | 85,547 | ||||
Allowance for credit losses on loans | 1,081 | 1,124 | 1,304 | 1,636 | 2,048 | 1,951 |
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 128,060 | 141,336 | ||||
Allowance for credit losses on loans | 2,203 | 3,175 | 3,972 | 8,835 | 11,223 | 11,141 |
Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 213,419 | 232,541 | ||||
Allowance for credit losses on loans | $ 2,568 | $ 2,299 | $ 2,627 | $ 3,261 | $ 4,348 | $ 5,894 |
Loans Receivable - Credit Quali
Loans Receivable - Credit Quality Indicators (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | $ 394,923 | $ 795,563 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 738,361 | 495,465 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 426,897 | 665,007 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 587,711 | 341,114 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 302,656 | 289,525 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,131,611 | 984,194 |
Financing Receivable, Revolving | 290,654 | 242,629 |
Financing Receivable revolving converted to Term Loans | 1,251 | 2,165 |
Financing Receivable, before Allowance for Credit Loss | 3,874,064 | 3,815,662 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 301,082 | 607,848 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 478,170 | 386,542 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 353,521 | 548,563 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 509,064 | 296,432 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 272,046 | 266,675 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,090,032 | 949,467 |
Financing Receivable, Revolving | 171,820 | 134,101 |
Financing Receivable revolving converted to Term Loans | 922 | 2,028 |
Financing Receivable, before Allowance for Credit Loss | 3,176,657 | 3,191,656 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 97,244 | 97,729 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 101,724 | 102,364 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 94,900 | 106,567 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 82,722 | 58,941 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 48,669 | 33,307 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 100,827 | 86,602 |
Financing Receivable, Revolving | 171,820 | 134,101 |
Financing Receivable revolving converted to Term Loans | 922 | 1,956 |
Financing Receivable, before Allowance for Credit Loss | 698,828 | 621,567 |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 78,387 | 183,006 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 171,731 | 91,941 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 92,312 | 191,459 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 182,294 | 85,022 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 80,125 | 72,990 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 345,850 | 306,660 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 72 |
Financing Receivable, before Allowance for Credit Loss | 950,699 | 931,150 |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 125,451 | 187,860 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 193,540 | 185,650 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 166,150 | 250,537 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 244,048 | 152,469 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 143,252 | 160,378 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 643,355 | 556,205 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 1,515,796 | 1,493,099 |
Commercial Portfolio Segment [Member] | Paycheck Protection Program | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 11,334 | 145,840 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,475 | 1,286 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 770 | 15,918 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,620 | 46,698 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 36,280 | 30,295 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 21,703 | 15,610 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 20,408 | 14,069 |
Financing Receivable, Revolving | 118,834 | 108,528 |
Financing Receivable revolving converted to Term Loans | 329 | 137 |
Financing Receivable, before Allowance for Credit Loss | 213,419 | 232,541 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 60,870 | 85,089 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 140,448 | 27,090 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 24,564 | 23,295 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,699 | 5,672 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,716 | 6,141 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 17,085 | 17,295 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 265,382 | 164,582 |
Real Estate Construction and Land Development [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 30,496 | 101,340 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 118,973 | 65,915 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 36,192 | 46,451 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 24,668 | 8,715 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,191 | 1,099 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,086 | 3,363 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 218,606 | 226,883 |
Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 90,546 | 85,547 |
Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 8,832 | 56,448 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 75,096 | 42,187 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 25,862 | 34,185 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 12,666 | 5,794 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,186 | 710 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,418 | 2,012 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 128,060 | 141,336 |
Pass [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 393,807 | 793,530 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 729,243 | 491,210 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 422,753 | 643,619 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 566,666 | 321,717 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 282,409 | 261,801 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,025,475 | 882,945 |
Financing Receivable, Revolving | 286,856 | 236,143 |
Financing Receivable revolving converted to Term Loans | 374 | 1,227 |
Financing Receivable, before Allowance for Credit Loss | 3,707,583 | 3,632,192 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 299,966 | 605,815 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 469,052 | 383,039 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 351,417 | 527,900 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 494,291 | 277,511 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 252,165 | 239,493 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 985,825 | 850,298 |
Financing Receivable, Revolving | 168,030 | 127,651 |
Financing Receivable revolving converted to Term Loans | 45 | 1,107 |
Financing Receivable, before Allowance for Credit Loss | 3,020,791 | 3,012,814 |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 96,128 | 95,960 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 101,302 | 100,193 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 93,475 | 94,657 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 73,299 | 54,707 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 38,742 | 28,558 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 90,980 | 77,294 |
Financing Receivable, Revolving | 168,030 | 127,651 |
Financing Receivable revolving converted to Term Loans | 45 | 1,035 |
Financing Receivable, before Allowance for Credit Loss | 662,001 | 580,055 |
Pass [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 78,387 | 182,742 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 171,470 | 90,609 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 91,633 | 188,380 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 180,596 | 73,714 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 73,797 | 66,039 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 316,424 | 273,518 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 72 |
Financing Receivable, before Allowance for Credit Loss | 912,307 | 875,074 |
Pass [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 125,451 | 187,860 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 185,105 | 185,650 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 166,150 | 244,863 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 240,396 | 149,090 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 139,626 | 144,896 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 578,421 | 499,486 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 1,435,149 | 1,411,845 |
Pass [Member] | Commercial Portfolio Segment [Member] | Paycheck Protection Program | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 139,253 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,175 | 6,587 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 159 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 11,334 | 145,840 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,475 | 1,286 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 770 | 15,737 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,451 | 46,041 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 35,722 | 29,819 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 21,337 | 15,068 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 19,062 | 13,026 |
Financing Receivable, Revolving | 118,826 | 108,492 |
Financing Receivable revolving converted to Term Loans | 329 | 120 |
Financing Receivable, before Allowance for Credit Loss | 210,972 | 229,589 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 60,870 | 85,089 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 140,448 | 27,090 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 24,564 | 23,295 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,699 | 5,672 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,716 | 6,141 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 16,907 | 16,891 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 265,204 | 164,178 |
Allowance for Loan and Lease Losses, Loans Acquired | 42,200 | |
Pass [Member] | Real Estate Construction and Land Development [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 30,496 | 101,340 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 118,973 | 65,344 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 34,321 | 46,383 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,954 | 8,715 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,191 | 1,099 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,681 | 2,730 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 210,616 | 225,611 |
Pass [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 21,664 | 44,892 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 43,877 | 23,728 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,330 | 12,266 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 12,002 | 2,921 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,005 | 389 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,668 | 1,351 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 90,546 | 85,547 |
Pass [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 8,832 | 56,448 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 75,096 | 41,616 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 23,991 | 34,117 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,952 | 5,794 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,186 | 710 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,013 | 1,379 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 120,070 | 140,064 |
Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 234 | 590 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,688 | 884 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,600 | 14,819 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,906 | 8,946 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,337 | 21,642 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 31,678 | 21,738 |
Financing Receivable, Revolving | 1,619 | 2,048 |
Financing Receivable revolving converted to Term Loans | 0 | 353 |
Financing Receivable, before Allowance for Credit Loss | 72,062 | 71,020 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 234 | 590 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,688 | 884 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 729 | 14,751 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 10,192 | 8,946 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 11,337 | 21,642 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 31,678 | 21,525 |
Financing Receivable, Revolving | 1,619 | 2,048 |
Financing Receivable revolving converted to Term Loans | 0 | 353 |
Financing Receivable, before Allowance for Credit Loss | 64,477 | 70,739 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 234 | 326 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 253 | 884 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 729 | 5,998 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,842 | 1,425 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,764 | 2,223 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,981 | 2,401 |
Financing Receivable, Revolving | 1,619 | 2,048 |
Financing Receivable revolving converted to Term Loans | 0 | 353 |
Financing Receivable, before Allowance for Credit Loss | 19,422 | 15,658 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 264 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 3,079 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,698 | 7,521 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,573 | 3,937 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 12,042 | 16,724 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 16,313 | 31,525 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,435 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 5,674 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,652 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 15,482 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 16,655 | 2,400 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 28,742 | 23,556 |
Special Mention [Member] | Real Estate Construction and Land Development [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,871 | 68 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,714 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 213 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 7,585 | 281 |
Special Mention [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,871 | 68 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,714 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 213 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 7,585 | 281 |
Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 882 | 1,443 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 430 | 3,371 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,544 | 6,569 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,139 | 10,451 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,910 | 6,082 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 74,458 | 79,511 |
Financing Receivable, Revolving | 2,179 | 4,438 |
Financing Receivable revolving converted to Term Loans | 877 | 585 |
Financing Receivable, before Allowance for Credit Loss | 94,419 | 112,450 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 882 | 1,443 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 430 | 2,619 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,375 | 5,912 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,581 | 9,975 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,544 | 5,540 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 72,529 | 77,644 |
Financing Receivable, Revolving | 2,171 | 4,402 |
Financing Receivable revolving converted to Term Loans | 877 | 568 |
Financing Receivable, before Allowance for Credit Loss | 91,389 | 108,103 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 882 | 1,443 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 169 | 1,287 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 696 | 5,912 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,581 | 2,809 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,163 | 2,526 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,866 | 6,907 |
Financing Receivable, Revolving | 2,171 | 4,402 |
Financing Receivable revolving converted to Term Loans | 877 | 568 |
Financing Receivable, before Allowance for Credit Loss | 17,405 | 25,854 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 261 | 1,332 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 679 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 3,787 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,755 | 3,014 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 17,384 | 16,418 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 22,079 | 24,551 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 3,379 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,626 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 48,279 | 54,319 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 51,905 | 57,698 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 181 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 169 | 657 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 558 | 476 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 366 | 542 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,346 | 1,043 |
Financing Receivable, Revolving | 8 | 36 |
Financing Receivable revolving converted to Term Loans | 0 | 17 |
Financing Receivable, before Allowance for Credit Loss | 2,447 | 2,952 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 178 | 404 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 178 | 404 |
Substandard [Member] | Real Estate Construction and Land Development [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 571 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 405 | 420 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 405 | 991 |
Substandard [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 571 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 405 | 420 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable revolving converted to Term Loans | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | $ 405 | $ 991 |
Loans Receivable - Nonaccrual L
Loans Receivable - Nonaccrual Loans (Details) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 USD ($) contract | Jun. 30, 2021 USD ($) contract | Jun. 30, 2022 USD ($) contract | Jun. 30, 2021 USD ($) contract | Dec. 31, 2021 USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | $ 10,475,000 | $ 10,475,000 | $ 23,754,000 | ||
Financing Receivable, Nonaccrual, No Allowance | 5,604,000 | 5,604,000 | 10,763,000 | ||
Financing Receivable, Nonaccrual, with Allowance | 4,871,000 | 4,871,000 | 12,991,000 | ||
Financing Receivable, Originated in Current Fiscal Year | 394,923,000 | 394,923,000 | 795,563,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 738,361,000 | 738,361,000 | 495,465,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 426,897,000 | 426,897,000 | 665,007,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 587,711,000 | 587,711,000 | 341,114,000 | ||
Interest and Fee Income, Loans and Leases | 40,890,000 | $ 50,750,000 | 81,915,000 | $ 100,274,000 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | 1,771,000 | $ 8,713,000 | 2,705,000 | $ 17,927,000 | |
Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 393,807,000 | 393,807,000 | 793,530,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 729,243,000 | 729,243,000 | 491,210,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 422,753,000 | 422,753,000 | 643,619,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 566,666,000 | 566,666,000 | 321,717,000 | ||
Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 234,000 | 234,000 | 590,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,688,000 | 8,688,000 | 884,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,600,000 | 2,600,000 | 14,819,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,906,000 | 15,906,000 | 8,946,000 | ||
Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 882,000 | 882,000 | 1,443,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 430,000 | 430,000 | 3,371,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,544,000 | 1,544,000 | 6,569,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,139,000 | 5,139,000 | 10,451,000 | ||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 23,107,000 | ||||
Financing Receivable, Nonaccrual, No Allowance | 10,763,000 | ||||
Financing Receivable, Nonaccrual, with Allowance | 12,344,000 | ||||
Financing Receivable, Originated in Current Fiscal Year | 301,082,000 | 301,082,000 | 607,848,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 478,170,000 | 478,170,000 | 386,542,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 353,521,000 | 353,521,000 | 548,563,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | $ 509,064,000 | $ 509,064,000 | 296,432,000 | ||
Financing Receivable, Modifications, Number of Contracts | contract | 3 | 20 | 4 | 35 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1,727,000 | $ 8,124,000 | $ 2,610,000 | $ 16,792,000 | |
Commercial Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 299,966,000 | 299,966,000 | 605,815,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 469,052,000 | 469,052,000 | 383,039,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 351,417,000 | 351,417,000 | 527,900,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 494,291,000 | 494,291,000 | 277,511,000 | ||
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 234,000 | 234,000 | 590,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,688,000 | 8,688,000 | 884,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 729,000 | 729,000 | 14,751,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 10,192,000 | 10,192,000 | 8,946,000 | ||
Commercial Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 882,000 | 882,000 | 1,443,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 430,000 | 430,000 | 2,619,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,375,000 | 1,375,000 | 5,912,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,581,000 | 4,581,000 | 9,975,000 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 6,173,000 | 6,173,000 | 10,281,000 | ||
Financing Receivable, Nonaccrual, No Allowance | 5,604,000 | 5,604,000 | 6,454,000 | ||
Financing Receivable, Nonaccrual, with Allowance | 569,000 | 569,000 | 3,827,000 | ||
Financing Receivable, Originated in Current Fiscal Year | 97,244,000 | 97,244,000 | 97,729,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 101,724,000 | 101,724,000 | 102,364,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 94,900,000 | 94,900,000 | 106,567,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | $ 82,722,000 | $ 82,722,000 | 58,941,000 | ||
Financing Receivable, Modifications, Number of Contracts | contract | 3 | 18 | 4 | 31 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1,727,000 | $ 5,673,000 | $ 2,610,000 | $ 8,713,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 96,128,000 | 96,128,000 | 95,960,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 101,302,000 | 101,302,000 | 100,193,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 93,475,000 | 93,475,000 | 94,657,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 73,299,000 | 73,299,000 | 54,707,000 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 234,000 | 234,000 | 326,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 253,000 | 253,000 | 884,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 729,000 | 729,000 | 5,998,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,842,000 | 4,842,000 | 1,425,000 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 882,000 | 882,000 | 1,443,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 169,000 | 169,000 | 1,287,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 696,000 | 696,000 | 5,912,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,581,000 | 4,581,000 | 2,809,000 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 4,302,000 | 4,302,000 | 8,174,000 | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | 3,036,000 | ||
Financing Receivable, Nonaccrual, with Allowance | 4,302,000 | 4,302,000 | 5,138,000 | ||
Financing Receivable, Originated in Current Fiscal Year | 78,387,000 | 78,387,000 | 183,006,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 171,731,000 | 171,731,000 | 91,941,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 92,312,000 | 92,312,000 | 191,459,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | $ 182,294,000 | $ 182,294,000 | 85,022,000 | ||
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | 0 | 2 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 2,200,000 | $ 0 | $ 5,857,000 | |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 78,387,000 | 78,387,000 | 182,742,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 171,470,000 | 171,470,000 | 90,609,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 91,633,000 | 91,633,000 | 188,380,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 180,596,000 | 180,596,000 | 73,714,000 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 571,000 | ||||
Financing Receivable, Nonaccrual, No Allowance | 0 | ||||
Financing Receivable, Nonaccrual, with Allowance | 571,000 | ||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 264,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | 3,079,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,698,000 | 1,698,000 | 7,521,000 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 261,000 | 261,000 | 1,332,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 679,000 | 679,000 | 0 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | 3,787,000 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 4,652,000 | ||||
Financing Receivable, Nonaccrual, No Allowance | 1,273,000 | ||||
Financing Receivable, Nonaccrual, with Allowance | 3,379,000 | ||||
Financing Receivable, Originated in Current Fiscal Year | 125,451,000 | 125,451,000 | 187,860,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 193,540,000 | 193,540,000 | 185,650,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 166,150,000 | 166,150,000 | 250,537,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | $ 244,048,000 | $ 244,048,000 | 152,469,000 | ||
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | 0 | 2 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 251,000 | $ 0 | $ 2,222,000 | |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 125,451,000 | 125,451,000 | 187,860,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 185,105,000 | 185,105,000 | 185,650,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 166,150,000 | 166,150,000 | 244,863,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 240,396,000 | 240,396,000 | 149,090,000 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,435,000 | 8,435,000 | 0 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | 5,674,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,652,000 | 3,652,000 | 0 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | 3,379,000 | ||
Residential Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 47,000 | ||||
Financing Receivable, Nonaccrual, No Allowance | 0 | ||||
Financing Receivable, Nonaccrual, with Allowance | 47,000 | ||||
Financing Receivable, Originated in Current Fiscal Year | 60,870,000 | 60,870,000 | 85,089,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 140,448,000 | 140,448,000 | 27,090,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 24,564,000 | 24,564,000 | 23,295,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,699,000 | 17,699,000 | 5,672,000 | ||
Residential Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 60,870,000 | 60,870,000 | 85,089,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 140,448,000 | 140,448,000 | 27,090,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 24,564,000 | 24,564,000 | 23,295,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,699,000 | 17,699,000 | 5,672,000 | ||
Residential Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | 0 | ||
Real Estate Construction and Land Development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 30,496,000 | 30,496,000 | 101,340,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 118,973,000 | 118,973,000 | 65,915,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 36,192,000 | 36,192,000 | 46,451,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 24,668,000 | 24,668,000 | 8,715,000 | ||
Real Estate Construction and Land Development | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 30,496,000 | 30,496,000 | 101,340,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 118,973,000 | 118,973,000 | 65,344,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 34,321,000 | 34,321,000 | 46,383,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18,954,000 | 18,954,000 | 8,715,000 | ||
Real Estate Construction and Land Development | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,871,000 | 1,871,000 | 68,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,714,000 | 5,714,000 | 0 | ||
Real Estate Construction and Land Development | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | 571,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | 0 | ||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 21,664,000 | 21,664,000 | 44,892,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 43,877,000 | 43,877,000 | 23,728,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,330,000 | 10,330,000 | 12,266,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 12,002,000 | 12,002,000 | 2,921,000 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 8,832,000 | 8,832,000 | 56,448,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 75,096,000 | 75,096,000 | 42,187,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 25,862,000 | 25,862,000 | 34,185,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 12,666,000 | 12,666,000 | 5,794,000 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 8,832,000 | 8,832,000 | 56,448,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 75,096,000 | 75,096,000 | 41,616,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 23,991,000 | 23,991,000 | 34,117,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,952,000 | 6,952,000 | 5,794,000 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,871,000 | 1,871,000 | 68,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,714,000 | 5,714,000 | 0 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | 571,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | 0 | ||
Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 29,000 | ||||
Financing Receivable, Nonaccrual, No Allowance | 0 | ||||
Financing Receivable, Nonaccrual, with Allowance | 29,000 | ||||
Financing Receivable, Originated in Current Fiscal Year | 2,475,000 | 2,475,000 | 1,286,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 770,000 | 770,000 | 15,918,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,620,000 | 12,620,000 | 46,698,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | $ 36,280,000 | $ 36,280,000 | 30,295,000 | ||
Financing Receivable, Modifications, Number of Contracts | contract | 3 | 6 | 8 | 21 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 44,000 | $ 146,000 | $ 95,000 | $ 511,000 | |
Consumer Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 2,475,000 | 2,475,000 | 1,286,000 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 770,000 | 770,000 | 15,737,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,451,000 | 12,451,000 | 46,041,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 35,722,000 | 35,722,000 | 29,819,000 | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | 0 | ||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | 181,000 | ||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 169,000 | 169,000 | 657,000 | ||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 558,000 | $ 558,000 | $ 476,000 | ||
One-to-four Family Real Estate Construction | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | |||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 181,000 | |||
Nonaccrual [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 90,000 | 1,984,000 | 1,143,000 | 2,547,000 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | (12,000) | (5,000) | (14,000) | (10,000) | |
Interest and Fee Income, Loans and Leases | 0 | 0 | 0 | 0 | |
Nonaccrual [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 1,056,000 | 2,474,000 | |||
Impaired Financing Receivable Interest Income Reversal Accrual Method | (14,000) | (10,000) | |||
Nonaccrual [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 90,000 | 1,981,000 | 229,000 | 2,044,000 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | (12,000) | (5,000) | (14,000) | (10,000) | |
Nonaccrual [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 3,000 | 53,000 | 117,000 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | $ 0 | $ 0 | 0 | 0 | |
Nonaccrual [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 774,000 | 313,000 | |||
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | |||
Nonaccrual [Member] | Residential Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 19,000 | 0 | |||
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | |||
Nonaccrual [Member] | Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 73,000 | |||
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | |||
Nonaccrual [Member] | Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 68,000 | 0 | |||
Impaired Financing Receivable Interest Income Reversal Accrual Method | $ 0 | $ 0 | |||
Troubled Debt Restructured Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | contract | 6 | 27 | 12 | 58 | |
Troubled Debt Restructured Loans [Member] | Modified during the quarter [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Related Allowance | $ 4,000 | $ 1,700,000 | $ 4,000 | $ 1,700,000 | |
Troubled Debt Restructured Loans [Member] | Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | 0 | 1 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 443,000 | $ 0 | $ 443,000 |
Loans Receivable - Past Due Loa
Loans Receivable - Past Due Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | $ 3,874,064 | $ 3,874,064 | $ 3,815,662 | ||
90 days or more and still accruing | 2,000 | 2,000 | 293 | ||
Financing Receivable, Unamortized Purchase Premium (Discount) | 3,084 | 3,084 | 3,938 | ||
Debt Securities, Held-to-maturity, Nonaccrual | 0 | 0 | 0 | ||
Debt Securities, Held-to-maturity, 90 Days or More Past Due, Still Accruing | 0 | 0 | 0 | ||
Nonaccrual [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable Interest Income Reversal Accrual Method | (12) | $ (5) | (14) | $ (10) | |
Impaired Financing Receivable, Interest Income, Accrual Method | 90 | 1,984 | 1,143 | 2,547 | |
Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,966 | 1,966 | 10,190 | ||
90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 7,578 | 7,578 | 7,807 | ||
Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 9,544 | 9,544 | 17,997 | ||
Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 3,864,520 | 3,864,520 | 3,797,665 | ||
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 3,176,657 | 3,176,657 | 3,191,656 | ||
Commercial Portfolio Segment [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable Interest Income Reversal Accrual Method | (14) | (10) | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 1,056 | 2,474 | |||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,315 | 1,315 | 4,478 | ||
Commercial Portfolio Segment [Member] | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 7,379 | 7,379 | 7,226 | ||
Commercial Portfolio Segment [Member] | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 8,694 | 8,694 | 11,704 | ||
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 3,167,963 | 3,167,963 | 3,179,952 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 698,828 | 698,828 | 621,567 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable Interest Income Reversal Accrual Method | (12) | (5) | (14) | (10) | |
Impaired Financing Receivable, Interest Income, Accrual Method | 90 | 1,981 | 229 | 2,044 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 259 | 259 | 1,858 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 7,190 | 7,190 | 6,821 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 7,449 | 7,449 | 8,679 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 691,379 | 691,379 | 612,888 | ||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 11,334 | 11,334 | 145,840 | ||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 223 | ||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 293 | ||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 516 | ||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 11,334 | 11,334 | 145,324 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 950,699 | 950,699 | 931,150 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | $ 3 | 53 | 117 | |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,056 | 1,056 | 2,397 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 189 | 189 | 112 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,245 | 1,245 | 2,509 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 949,454 | 949,454 | 928,641 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,515,796 | 1,515,796 | 1,493,099 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 774 | 313 | |||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,515,796 | 1,515,796 | 1,493,099 | ||
Residential Portfolio Segment [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 265,382 | 265,382 | 164,582 | ||
Residential Portfolio Segment [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 19 | 0 | |||
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 420 | ||
Residential Portfolio Segment [Member] | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 10 | ||
Residential Portfolio Segment [Member] | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 430 | ||
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 265,382 | 265,382 | 164,152 | ||
Real Estate Construction and Land Development | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 218,606 | 218,606 | 226,883 | ||
Real Estate Construction and Land Development | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 4,266 | ||
Real Estate Construction and Land Development | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 571 | ||
Real Estate Construction and Land Development | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 4,837 | ||
Real Estate Construction and Land Development | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 218,606 | 218,606 | 222,046 | ||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 90,546 | 90,546 | 85,547 | ||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Nonaccrual [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 73 | |||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 792 | ||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 0 | ||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 792 | ||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 90,546 | 90,546 | 84,755 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 128,060 | 128,060 | 141,336 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 3,474 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 571 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | 4,045 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 128,060 | 128,060 | 137,291 | ||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 213,419 | 213,419 | 232,541 | ||
Consumer Portfolio Segment [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 68 | $ 0 | |||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 651 | 651 | 1,026 | ||
Consumer Portfolio Segment [Member] | 90 Days or Greater | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 199 | 199 | 0 | ||
Consumer Portfolio Segment [Member] | Financial Asset, Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | 850 | 850 | 1,026 | ||
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due | |||||
Financing Receivable, Past Due [Line Items] | |||||
Financing Receivable, before Allowance for Credit Loss | $ 212,569 | $ 212,569 | $ 231,515 |
Loans Receivable - Modified TDR
Loans Receivable - Modified TDRs (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 USD ($) contract | Jun. 30, 2021 USD ($) contract | Jun. 30, 2022 USD ($) contract | Jun. 30, 2021 USD ($) contract Contract | |
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Outstanding Principal Balance | $ 1,771 | $ 8,713 | $ 2,705 | $ 17,927 |
Interest and Fee Income, Loans and Leases | $ 40,890 | $ 50,750 | $ 81,915 | $ 100,274 |
Commercial Portfolio Segment [Member] | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | contract | 3 | 20 | 4 | 35 |
Outstanding Principal Balance | $ 1,727 | $ 8,124 | $ 2,610 | $ 16,792 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | contract | 3 | 18 | 4 | 31 |
Outstanding Principal Balance | $ 1,727 | $ 5,673 | $ 2,610 | $ 8,713 |
Number of contracts modified | contract | 0 | 1 | 0 | 2 |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | contract | 0 | 1 | 0 | 2 |
Outstanding Principal Balance | $ 0 | $ 2,200 | $ 0 | $ 5,857 |
Number of contracts modified | 1 | 0 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | contract | 0 | 1 | 0 | 2 |
Outstanding Principal Balance | $ 0 | $ 251 | $ 0 | $ 2,222 |
Consumer Portfolio Segment [Member] | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | contract | 3 | 6 | 8 | 21 |
Outstanding Principal Balance | $ 44 | $ 146 | $ 95 | $ 511 |
One-to-four Family Real Estate Construction | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | contract | 0 | 1 | ||
Outstanding Principal Balance | $ 0 | $ 181 | ||
Troubled Debt Restructured Loans | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | contract | 6 | 27 | 12 | 58 |
Troubled Debt Restructured Loans | Modified during the quarter [Member] | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Related Specific Valuation Allowance | $ 4 | $ 1,700 | $ 4 | $ 1,700 |
Troubled Debt Restructured Loans | Finance Receivable Modified Subsequent Default | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Related Specific Valuation Allowance | $ 3 | $ 7 | $ 3 | $ 7 |
Troubled Debt Restructured Loans | Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | ||||
Number of Contracts | contract | 0 | 1 | 0 | 1 |
Outstanding Principal Balance | $ 0 | $ 443 | $ 0 | $ 443 |
Loans Receivable - TDRs Subsequ
Loans Receivable - TDRs Subsequently Defaulted (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 USD ($) contract | Jun. 30, 2021 USD ($) contract | Jun. 30, 2022 USD ($) contract | Jun. 30, 2021 USD ($) contract Contract | Dec. 31, 2021 USD ($) | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1,771 | $ 8,713 | $ 2,705 | $ 17,927 | |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 3,400 | 3,400 | $ 5,700 | ||
Interest and Fee Income, Loans and Leases | 40,890 | 50,750 | 81,915 | 100,274 | |
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1,727 | $ 8,124 | $ 2,610 | $ 16,792 | |
Financing Receivable, Modifications, Number of Contracts | contract | 3 | 20 | 4 | 35 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1,727 | $ 5,673 | $ 2,610 | $ 8,713 | |
Financing Receivable, Modifications, Number of Contracts | contract | 3 | 18 | 4 | 31 | |
Number of Contracts (1) | contract | 0 | 1 | 0 | 2 | |
Amortized Cost (1) | $ 0 | $ 46 | $ 0 | $ 789 | |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 2,200 | $ 0 | $ 5,857 | |
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | 0 | 2 | |
Number of Contracts (1) | 1 | 0 | |||
Amortized Cost (1) | $ 189 | $ 0 | |||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 251 | $ 0 | $ 2,222 | |
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | 0 | 2 | |
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 44 | $ 146 | $ 95 | $ 511 | |
Financing Receivable, Modifications, Number of Contracts | contract | 3 | 6 | 8 | 21 | |
One-to-four Family Real Estate Construction | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 181 | |||
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | |||
Troubled Debt Restructured Loans | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | contract | 6 | 27 | 12 | 58 | |
Troubled Debt Restructured Loans | Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 443 | $ 0 | $ 443 | |
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | 0 | 1 | |
Finance Receivable Modified Subsequent Default | Troubled Debt Restructured Loans | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Related Specific Valuation Allowance | $ 3 | $ 7 | $ 3 | $ 7 |
Loans Receivable - Collateral D
Loans Receivable - Collateral Dependent (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | $ 5,236,000 | $ 12,021,000 | |
Accrued interest receivable | 15,908,000 | 14,657,000 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 0 | ||
Finance Receivable Modified Subsequent Default | Troubled Debt Restructured Loans [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 3,000 | $ 7,000 | |
Loans Receivable [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Accrued interest receivable | 9,500,000 | 10,100,000 | |
Commercial Portfolio Segment [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 11,450,000 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 5,047,000 | 7,142,000 | |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 189,000 | 3,035,000 | |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,273,000 | ||
Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 571,000 | ||
Farmland [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 2,492,000 | 4,362,000 | |
Farmland [Member] | Commercial Portfolio Segment [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 4,362,000 | ||
Farmland [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 2,492,000 | 4,362,000 | |
Farmland [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | 0 | |
Farmland [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | ||
Farmland [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | ||
Commercial Real Estate | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,428,000 | 6,378,000 | |
Commercial Real Estate | Commercial Portfolio Segment [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 5,807,000 | ||
Commercial Real Estate | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,239,000 | 1,499,000 | |
Commercial Real Estate | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 189,000 | 3,035,000 | |
Commercial Real Estate | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,273,000 | ||
Single Family Residence | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,316,000 | 1,036,000 | |
Single Family Residence | Commercial Portfolio Segment [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,036,000 | ||
Single Family Residence | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,316,000 | 1,036,000 | |
Single Family Residence | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | $ 0 | 0 | |
Single Family Residence | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | ||
Real Estate [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 571,000 | ||
Single Family [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | ||
Other [Member] | Commercial Portfolio Segment [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 245,000 | ||
Other [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 245,000 | ||
Other [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | ||
Other [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | ||
Other [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | $ 0 |
Allowance for Credit Losses o_2
Allowance for Credit Losses on Loans - Summary of Changes in Loan Allowance (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $ (2,700) | |||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Percent | (6.30%) | |||
Reduction in ACL | $ 2,900 | |||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | $ 40,333 | $ 64,225 | 42,361 | $ 70,185 |
Financing Receivable, Allowance for Credit Loss, Writeoff | (249) | (133) | (604) | (320) |
Recoveries | (261) | (291) | (1,110) | (653) |
(Reversal of) Provision for Credit Losses | (649) | (12,821) | (3,171) | (18,956) |
Ending Balance | 39,696 | 51,562 | 39,696 | 51,562 |
Allowance for Loan and Lease Losses, Write-offs | (604) | (320) | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 1,110 | 653 | ||
Commercial Portfolio Segment [Member] | ||||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | 31,932 | 45,204 | 33,049 | 49,608 |
Financing Receivable, Allowance for Credit Loss, Writeoff | (117) | (13) | (316) | (14) |
Recoveries | (149) | (143) | (421) | (350) |
(Reversal of) Provision for Credit Losses | (257) | (8,657) | (1,447) | (13,267) |
Ending Balance | 31,707 | 36,677 | 31,707 | 36,677 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | 15,265 | 21,770 | 17,777 | 30,010 |
Financing Receivable, Allowance for Credit Loss, Writeoff | (117) | (13) | (280) | (14) |
Recoveries | (149) | (132) | (421) | (337) |
(Reversal of) Provision for Credit Losses | (1,264) | (4,404) | 3,885 | (12,848) |
Ending Balance | 14,033 | 17,485 | 14,033 | 17,485 |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | 7,085 | 10,464 | 6,411 | 9,486 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | (36) | 0 |
Recoveries | 0 | (11) | 0 | (13) |
(Reversal of) Provision for Credit Losses | 1,077 | (1,913) | (1,787) | (937) |
Ending Balance | 8,162 | 8,562 | 8,162 | 8,562 |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | 9,582 | 12,970 | 8,861 | 10,112 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
(Reversal of) Provision for Credit Losses | (70) | (2,340) | (651) | 518 |
Ending Balance | 9,512 | 10,630 | 9,512 | 10,630 |
Residential Portfolio Segment [Member] | ||||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | 1,803 | 1,402 | 1,409 | 1,591 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | (30) | 0 |
Recoveries | 0 | 0 | (3) | 0 |
(Reversal of) Provision for Credit Losses | 334 | (249) | (755) | (438) |
Ending Balance | 2,137 | 1,153 | 2,137 | 1,153 |
Real Estate Construction and Land Development | ||||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | 4,299 | 13,271 | 5,276 | 13,092 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | 0 | (1) |
Recoveries | (59) | (4) | (67) | (20) |
(Reversal of) Provision for Credit Losses | (1,074) | (2,804) | (2,059) | (2,640) |
Ending Balance | 3,284 | 10,471 | 3,284 | 10,471 |
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | ||||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | 1,124 | 2,048 | 1,304 | 1,951 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | 0 | 0 |
Recoveries | (6) | (4) | (14) | (20) |
(Reversal of) Provision for Credit Losses | (49) | (416) | 237 | (335) |
Ending Balance | 1,081 | 1,636 | 1,081 | 1,636 |
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | ||||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | 3,175 | 11,223 | 3,972 | 11,141 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | 0 | (1) |
Recoveries | (53) | 0 | (53) | 0 |
(Reversal of) Provision for Credit Losses | (1,025) | (2,388) | 1,822 | (2,305) |
Ending Balance | 2,203 | 8,835 | 2,203 | 8,835 |
Consumer Portfolio Segment [Member] | ||||
Schedule of changes in allowance for loan losses | ||||
Beginning Balance | 2,299 | 4,348 | 2,627 | 5,894 |
Financing Receivable, Allowance for Credit Loss, Writeoff | (132) | (120) | (258) | (305) |
Recoveries | (53) | (144) | (619) | (283) |
(Reversal of) Provision for Credit Losses | 348 | (1,111) | 420 | (2,611) |
Ending Balance | $ 2,568 | $ 3,261 | $ 2,568 | $ 3,261 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets - Other Intangible Assets, Textual (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Finite-Lived Intangible Assets [Line Items] | |
Goodwill, Impairment Loss | $ 0 |
Core Deposits | Premier Commercial Bancorp | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life | 10 years |
Core Deposits | Puget Sound Bancorp | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life | 10 years |
Core Deposits | Washington Banking Company | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life | 10 years |
Core Deposits | Valley Community Bancshares | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life | 10 years |
Derivative Financial Instrume_3
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Customers | ||
Derivative Asset | ||
Estimated Fair Value | $ (19,000) | $ 9,800 |
Third Parties | ||
Derivative Asset | ||
Estimated Fair Value | (9,800) | |
Derivative Liability | ||
Estimated Fair Value | 19,000 | |
Interest rate swap | ||
Derivative Asset | ||
Estimated Fair Value | 19,842 | 15,219 |
Interest rate swap | Non-hedging interest rate derivatives | ||
Derivative Asset | ||
Notional Amounts | 305,902 | 322,726 |
Derivative Liability | ||
Notional Amounts | 305,902 | 322,726 |
Estimated Fair Value | $ 19,842 | $ 15,286 |
Stockholders' Equity - Reconcil
Stockholders' Equity - Reconciliation of Weighted Average Shares (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income: | ||||
Net Income | $ 18,584 | $ 32,702 | $ 38,341 | $ 58,046 |
Basic: | ||||
Weighted average common shares outstanding (in shares) | 35,110,334 | 35,994,740 | 35,102,572 | 35,961,032 |
Total basic weighted average common shares outstanding (in shares) | 35,110,334 | 35,994,740 | 35,102,572 | 35,961,032 |
Diluted: | ||||
Basic weighted average common shares outstanding (in shares) | 35,110,334 | 35,994,740 | 35,102,572 | 35,961,032 |
Effect of potentially dilutive common shares (in shares) | 299,190 | 294,724 | 310,150 | 307,829 |
Total diluted weighted average common shares outstanding (in shares) | 35,409,524 | 36,289,464 | 35,412,722 | 36,268,861 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 16,978 | 7,065 | 14,334 | 4,766 |
Stockholders' Equity - Dividend
Stockholders' Equity - Dividends (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||||||||
Apr. 20, 2022 | Jan. 26, 2022 | Oct. 20, 2021 | Jul. 21, 2021 | Apr. 21, 2021 | Jan. 27, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Stockholders' Equity Note [Abstract] | ||||||||||
Declared | Apr. 20, 2022 | Jan. 26, 2022 | Oct. 20, 2021 | Jul. 21, 2021 | Apr. 21, 2021 | Jan. 27, 2021 | ||||
Cash Dividend per Share (in usd per share) | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.21 | $ 0.20 | $ 0.42 | $ 0.40 |
Record Date | May 04, 2022 | Feb. 09, 2022 | Nov. 03, 2021 | Aug. 04, 2021 | May 05, 2021 | Feb. 10, 2021 | ||||
Paid Date | May 18, 2022 | Feb. 23, 2022 | Nov. 17, 2021 | Aug. 18, 2021 | May 19, 2021 | Feb. 24, 2021 |
Stockholders' Equity - Stock Re
Stockholders' Equity - Stock Repurchase Program (Details) - Twelfth Stock Repurchase Plan [Member] [Member] [Domain] | Mar. 12, 2020 shares |
Stockholders Equity (Textual) [Abstract] | |
Outstanding share percent | 5% |
Outstanding common shares in the plan (in shares) | 1,799,054 |
Stockholders' Equity - Shares R
Stockholders' Equity - Shares Repurchased (Details) - $ / shares | 3 Months Ended | 6 Months Ended | 25 Months Ended | 28 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | Jun. 30, 2022 | |
Shares Related to Withholding Taxes on the Vesting of Restricted Stock | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Repurchased shares to pay withholding taxes (in shares) | 1,649 | 2,557 | 26,180 | 25,803 | ||
Withholding taxes average price per share (in usd per share) | $ 24.43 | $ 27.47 | $ 25.40 | $ 29.33 | ||
Twelfth Stock Repurchase Plan [Member] [Member] [Domain] | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Repurchased shares to pay withholding taxes (in shares) | 19,531 | 0 | 100,090 | 0 | ||
Net Total Stock Repurchased During Periods Presented, Shares | 1,160,840 | |||||
Net Stock Repurchased During Periods Presented, Value Per Share | $ 24.63 | $ 0 | $ 25.07 | $ 0 | $ 23.94 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Measurement on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | $ 1,187,588 | $ 894,335 | |
Fair Value | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 1,187,588 | ||
Equity security | 186 | 240 | |
Derivative assets - interest rate swaps | 19,842 | 15,219 | |
Derivative liabilities - interest rate swaps | 19,842 | 15,286 | |
Level 1 | Fair Value | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Equity security | 240 | ||
Derivative assets - interest rate swaps | 0 | 0 | |
Derivative liabilities - interest rate swaps | 0 | 0 | |
Level 2 | Fair Value | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | $ 1,167,649 | ||
Equity security | 0 | 0 | |
Derivative assets - interest rate swaps | 19,842 | 15,219 | |
Derivative liabilities - interest rate swaps | 19,842 | 15,286 | |
Level 3 | Fair Value | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Equity security | 0 | 0 | |
Derivative assets - interest rate swaps | 0 | 0 | |
Derivative liabilities - interest rate swaps | 0 | 0 | |
Recurring | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 1,187,588 | 894,335 | |
Equity security | 186 | 240 | |
Recurring | U.S. government and agency securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 65,668 | 21,373 | |
Recurring | Municipal securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 200,010 | 221,212 | |
Recurring | Residential CMO and MBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 398,156 | 306,884 | |
Recurring | Commercial CMO and MBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 493,620 | 315,861 | |
Recurring | Corporate obligations | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 5,978 | 2,014 | |
Recurring | Other asset-backed securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 24,156 | 26,991 | |
Recurring | Interest rate swap | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Derivative assets - interest rate swaps | 19,842 | 15,219 | |
Derivative liabilities - interest rate swaps | 19,842 | 15,286 | |
Recurring | Level 1 | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 19,939 | 0 | |
Equity security | 186 | 240 | |
Recurring | Level 1 | Fair Value | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Equity security | 186 | ||
Recurring | Level 1 | U.S. government and agency securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 19,939 | 0 | |
Recurring | Level 1 | Municipal securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 1 | Residential CMO and MBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 1 | Commercial CMO and MBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 1 | Corporate obligations | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 1 | Other asset-backed securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 1 | Interest rate swap | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Derivative assets - interest rate swaps | 0 | 0 | |
Derivative liabilities - interest rate swaps | 0 | 0 | |
Recurring | Level 2 | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 1,167,649 | 894,335 | |
Equity security | 0 | 0 | |
Recurring | Level 2 | U.S. government and agency securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 45,729 | 21,373 | |
Recurring | Level 2 | Municipal securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 200,010 | 221,212 | |
Recurring | Level 2 | Residential CMO and MBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 398,156 | 306,884 | |
Recurring | Level 2 | Commercial CMO and MBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 493,620 | 315,861 | |
Recurring | Level 2 | Corporate obligations | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 5,978 | 2,014 | |
Recurring | Level 2 | Other asset-backed securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 24,156 | 26,991 | |
Recurring | Level 2 | Interest rate swap | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Derivative assets - interest rate swaps | 19,842 | ||
Derivative liabilities - interest rate swaps | 19,842 | ||
Recurring | Level 3 | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Equity security | 0 | 0 | |
Recurring | Level 3 | U.S. government and agency securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 3 | Municipal securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 3 | Residential CMO and MBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 3 | Commercial CMO and MBS | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 3 | Corporate obligations | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 3 | Other asset-backed securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total investment securities available for sale | 0 | 0 | |
Recurring | Level 3 | Interest rate swap | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Derivative assets - interest rate swaps | 0 | 0 | |
Derivative liabilities - interest rate swaps | $ 0 | $ 0 |
Fair Value Measurements - Fai_2
Fair Value Measurements - Fair Value Measurement on Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | $ 1,667 | $ 1,667 | $ 4,213 | ||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 32 | $ (93) | 20 | $ (142) | |
Level 1 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Level 2 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Level 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 1,155 | 1,155 | 2,470 | ||
Fair Value, Inputs, Level 1, 2 and 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 1,155 | 1,155 | 2,470 | ||
Impaired Loans | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 3,515 | ||||
Impaired Loans | Level 1 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | ||||
Impaired Loans | Level 2 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | ||||
Impaired Loans | Fair Value, Inputs, Level 1, 2 and 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 1,772 | ||||
Impaired Loans | Commercial Portfolio Segment [Member] | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 2,524 | ||||
Net Losses (Gains) Recorded in Earnings | 32 | (70) | 20 | (104) | |
Impaired Loans | Commercial Portfolio Segment [Member] | Level 1 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | ||||
Impaired Loans | Commercial Portfolio Segment [Member] | Level 2 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | ||||
Impaired Loans | Commercial Portfolio Segment [Member] | Level 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 1,238 | ||||
Impaired Loans | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1, 2 and 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 1,238 | ||||
Impaired Loans | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 1,054 | 1,054 | 1,911 | ||
Net Losses (Gains) Recorded in Earnings | 35 | 6 | 23 | (28) | |
Impaired Loans | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Level 1 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Impaired Loans | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Level 2 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Impaired Loans | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Level 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 969 | 969 | 1,049 | ||
Impaired Loans | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Fair Value, Inputs, Level 1, 2 and 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 969 | 969 | 1,049 | ||
Impaired Loans | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 613 | 613 | 613 | ||
Net Losses (Gains) Recorded in Earnings | (3) | (76) | (3) | (76) | |
Impaired Loans | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Level 1 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Impaired Loans | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Level 2 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | ||
Impaired Loans | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Level 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 186 | 186 | 189 | ||
Impaired Loans | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Fair Value, Inputs, Level 1, 2 and 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 186 | 186 | 189 | ||
Impaired Loans | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 991 | ||||
Net Losses (Gains) Recorded in Earnings | $ 0 | $ (23) | $ 0 | $ (38) | |
Impaired Loans | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | Level 1 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | ||||
Impaired Loans | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | Level 2 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | ||||
Impaired Loans | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | Level 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 534 | ||||
Impaired Loans | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | Fair Value, Inputs, Level 1, 2 and 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 534 | ||||
Branch held for sale | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 698 | ||||
Branch held for sale | Level 1 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | ||||
Branch held for sale | Level 2 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 0 | ||||
Branch held for sale | Level 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | 698 | ||||
Branch held for sale | Fair Value, Inputs, Level 1, 2 and 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Assets, Fair Value Disclosure | $ 698 |
Fair Value Measurements - Quant
Fair Value Measurements - Quantitative Information, Level 3 (Details) - Nonrecurring $ in Thousands | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Assets, Fair Value Disclosure | $ 1,667 | $ 4,213 |
Impaired Loans | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Assets, Fair Value Disclosure | 3,515 | |
Branch held for sale | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Assets, Fair Value Disclosure | 698 | |
Level 3 | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Assets, Fair Value Disclosure | 1,155 | 2,470 |
Level 3 | Impaired Loans | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Collateral-dependent loans | 1,155 | $ 1,772 |
Level 3 | Impaired Loans | Minimum | Comparability Adjustment | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Range of Inputs | (11) | |
Level 3 | Impaired Loans | Maximum | Comparability Adjustment | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Range of Inputs | 35 | |
Level 3 | Impaired Loans | Weighted Average | Comparability Adjustment | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Range of Inputs | 13.8 | |
Level 3 | Branch held for sale | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Collateral-dependent loans | $ 698 | |
Assets, Fair Value Disclosure | 698 | |
Fair Value, Inputs, Level 1, 2 and 3 | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Assets, Fair Value Disclosure | $ 1,155 | 2,470 |
Fair Value, Inputs, Level 1, 2 and 3 | Impaired Loans | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Assets, Fair Value Disclosure | 1,772 | |
Fair Value, Inputs, Level 1, 2 and 3 | Branch held for sale | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Assets, Fair Value Disclosure | $ 698 |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Financial Assets: | |||
Investment securities held to maturity | $ 559,312 | $ 376,331 | |
Financial Liabilities: | |||
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 615,653 | 383,393 | |
Total investment securities available for sale | 1,187,588 | 894,335 | |
Fair Value, Recurring [Member] | |||
Financial Assets: | |||
Equity security | 186 | 240 | |
Financial Liabilities: | |||
Total investment securities available for sale | 1,187,588 | 894,335 | |
Fair Value, Recurring [Member] | Interest rate swap | |||
Financial Assets: | |||
Derivative assets - interest rate swaps | 19,842 | 15,219 | |
Financial Liabilities: | |||
Derivative liabilities - interest rate swaps | 19,842 | 15,286 | |
Level 1 | Fair Value, Recurring [Member] | |||
Financial Assets: | |||
Equity security | 186 | 240 | |
Financial Liabilities: | |||
Total investment securities available for sale | 19,939 | 0 | |
Level 1 | Fair Value, Recurring [Member] | Interest rate swap | |||
Financial Assets: | |||
Derivative assets - interest rate swaps | 0 | 0 | |
Financial Liabilities: | |||
Derivative liabilities - interest rate swaps | 0 | 0 | |
Level 2 | Fair Value, Recurring [Member] | |||
Financial Assets: | |||
Investment securities held to maturity | 559,312 | 376,331 | |
Equity security | 0 | 0 | |
Financial Liabilities: | |||
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 615,653 | 383,393 | |
Total investment securities available for sale | 1,167,649 | 894,335 | |
Level 2 | Fair Value, Recurring [Member] | Interest rate swap | |||
Financial Assets: | |||
Derivative assets - interest rate swaps | 19,842 | ||
Financial Liabilities: | |||
Derivative liabilities - interest rate swaps | 19,842 | ||
Level 3 | Fair Value, Recurring [Member] | |||
Financial Assets: | |||
Equity security | 0 | 0 | |
Financial Liabilities: | |||
Total investment securities available for sale | 0 | 0 | |
Level 3 | Fair Value, Recurring [Member] | Interest rate swap | |||
Financial Assets: | |||
Derivative assets - interest rate swaps | 0 | 0 | |
Financial Liabilities: | |||
Derivative liabilities - interest rate swaps | 0 | 0 | |
Carrying Value | |||
Financial Assets: | |||
Cash and cash equivalents | 994,055 | 1,723,292 | |
Loans receivable, net | 3,834,368 | 3,773,301 | |
Accrued interest receivable | 15,908 | 14,657 | |
Derivative assets - interest rate swaps | 19,842 | 15,219 | |
Equity security | 186 | 240 | |
Financial Liabilities: | |||
Non-maturity deposits | 6,038,498 | ||
Certificates of deposit | 342,839 | ||
Securities sold under agreement to repurchase | 41,827 | 50,839 | |
Junior subordinated debentures | 21,326 | 21,180 | |
Accrued interest payable | 83 | 73 | |
Derivative liabilities - interest rate swaps | 19,842 | 15,286 | |
Investment securities held to maturity, at amortized cost, net (fair value of $559,312 and $376,331, respectively) | 615,653 | 383,393 | |
Total investment securities available for sale | 1,187,588 | ||
Carrying Value | Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | |||
Financial Liabilities: | |||
Non-maturity deposits | 6,019,421 | ||
Carrying Value | Bank Time Deposits | |||
Financial Liabilities: | |||
Certificates of deposit | 310,769 | ||
Fair Value | |||
Financial Assets: | |||
Cash and cash equivalents | 994,055 | 1,723,292 | |
Investment securities available for sale | 894,335 | ||
Investment securities held to maturity | 559,312 | 376,331 | |
Loans held for sale | 1,353 | 1,527 | |
Loans receivable, net | 3,760,294 | 3,849,602 | |
Accrued interest receivable | 15,908 | 14,657 | |
Derivative assets - interest rate swaps | 19,842 | 15,219 | |
Equity security | 186 | 240 | |
Financial Liabilities: | |||
Non-maturity deposits | 6,038,498 | ||
Certificates of deposit | 344,025 | ||
Securities sold under agreement to repurchase | 41,827 | 50,839 | |
Junior subordinated debentures | 19,250 | 18,750 | |
Accrued interest payable | 83 | 73 | |
Derivative liabilities - interest rate swaps | 19,842 | 15,286 | |
Total investment securities available for sale | 1,187,588 | ||
Fair Value | Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | |||
Financial Liabilities: | |||
Non-maturity deposits | 6,019,421 | ||
Fair Value | Bank Time Deposits | |||
Financial Liabilities: | |||
Certificates of deposit | 311,481 | ||
Fair Value | Level 1 | |||
Financial Assets: | |||
Cash and cash equivalents | 994,055 | 1,723,292 | |
Investment securities available for sale | 0 | ||
Investment securities held to maturity | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans receivable, net | 0 | 0 | |
Accrued interest receivable | 272 | 14 | |
Derivative assets - interest rate swaps | 0 | 0 | |
Equity security | 240 | ||
Financial Liabilities: | |||
Non-maturity deposits | 6,038,498 | ||
Certificates of deposit | 0 | ||
Securities sold under agreement to repurchase | 41,827 | 50,839 | |
Junior subordinated debentures | 0 | 0 | |
Accrued interest payable | 31 | 33 | |
Derivative liabilities - interest rate swaps | 0 | 0 | |
Fair Value | Level 1 | Fair Value, Recurring [Member] | |||
Financial Assets: | |||
Equity security | 186 | ||
Fair Value | Level 1 | Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | |||
Financial Liabilities: | |||
Non-maturity deposits | 6,019,421 | ||
Fair Value | Level 1 | Bank Time Deposits | |||
Financial Liabilities: | |||
Certificates of deposit | 0 | ||
Fair Value | Level 2 | |||
Financial Assets: | |||
Cash and cash equivalents | 0 | 0 | |
Investment securities available for sale | 894,335 | ||
Investment securities held to maturity | 559,312 | 376,331 | |
Loans held for sale | 1,353 | 1,527 | |
Loans receivable, net | 0 | 0 | |
Accrued interest receivable | 6,185 | 4,582 | |
Derivative assets - interest rate swaps | 19,842 | 15,219 | |
Equity security | 0 | 0 | |
Financial Liabilities: | |||
Non-maturity deposits | 0 | ||
Certificates of deposit | 344,025 | ||
Securities sold under agreement to repurchase | 0 | 0 | |
Junior subordinated debentures | 0 | 0 | |
Accrued interest payable | 16 | 19 | |
Derivative liabilities - interest rate swaps | 19,842 | 15,286 | |
Total investment securities available for sale | $ 1,167,649 | ||
Fair Value | Level 2 | Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | |||
Financial Liabilities: | |||
Non-maturity deposits | 0 | ||
Fair Value | Level 2 | Bank Time Deposits | |||
Financial Liabilities: | |||
Certificates of deposit | 311,481 | ||
Fair Value | Level 3 | |||
Financial Assets: | |||
Cash and cash equivalents | 0 | 0 | |
Investment securities available for sale | 0 | ||
Investment securities held to maturity | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans receivable, net | 3,760,294 | 3,849,602 | |
Accrued interest receivable | 9,451 | 10,061 | |
Derivative assets - interest rate swaps | 0 | 0 | |
Equity security | 0 | 0 | |
Financial Liabilities: | |||
Non-maturity deposits | 0 | ||
Certificates of deposit | 0 | ||
Securities sold under agreement to repurchase | 0 | 0 | |
Junior subordinated debentures | 19,250 | 18,750 | |
Accrued interest payable | 36 | 21 | |
Derivative liabilities - interest rate swaps | 0 | $ 0 | |
Fair Value | Level 3 | Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | |||
Financial Liabilities: | |||
Non-maturity deposits | 0 | ||
Fair Value | Level 3 | Bank Time Deposits | |||
Financial Liabilities: | |||
Certificates of deposit | $ 0 |
Cash Restriction (Details)
Cash Restriction (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Banking and Thrift, Other Disclosures [Abstract] | ||
Restricted Cash | $ 0 | $ 9.8 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Other Commitments [Line Items] | ||||||||
Unused Commitments to Extend Credit | $ 1,147,513 | $ 1,147,513 | $ 1,125,960 | |||||
Allowance for credit losses on loans | 39,696 | $ 51,562 | 39,696 | $ 51,562 | $ 40,333 | 42,361 | $ 64,225 | $ 70,185 |
Commercial Portfolio Segment [Member] | ||||||||
Other Commitments [Line Items] | ||||||||
Unused Commitments to Extend Credit | 570,056 | 570,056 | 579,895 | |||||
Allowance for credit losses on loans | 31,707 | 36,677 | 31,707 | 36,677 | 31,932 | 33,049 | 45,204 | 49,608 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||||||
Other Commitments [Line Items] | ||||||||
Unused Commitments to Extend Credit | 553,134 | 553,134 | 570,156 | |||||
Allowance for credit losses on loans | 14,033 | 17,485 | 14,033 | 17,485 | 15,265 | 17,777 | 21,770 | 30,010 |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||||||||
Other Commitments [Line Items] | ||||||||
Unused Commitments to Extend Credit | 3,612 | 3,612 | 2,252 | |||||
Allowance for credit losses on loans | 8,162 | 8,562 | 8,162 | 8,562 | 7,085 | 6,411 | 10,464 | 9,486 |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||||||||
Other Commitments [Line Items] | ||||||||
Unused Commitments to Extend Credit | 13,310 | 13,310 | 7,487 | |||||
Allowance for credit losses on loans | 9,512 | 10,630 | 9,512 | 10,630 | 9,582 | 8,861 | 12,970 | 10,112 |
Real Estate Construction and Land Development [Member] | ||||||||
Other Commitments [Line Items] | ||||||||
Unused Commitments to Extend Credit | 269,551 | 269,551 | 261,055 | |||||
Allowance for credit losses on loans | 3,284 | 10,471 | 3,284 | 10,471 | 4,299 | 5,276 | 13,271 | 13,092 |
Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||||||||
Other Commitments [Line Items] | ||||||||
Unused Commitments to Extend Credit | 52,374 | 52,374 | 51,838 | |||||
Allowance for credit losses on loans | 1,081 | 1,636 | 1,081 | 1,636 | 1,124 | 1,304 | 2,048 | 1,951 |
Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||||||||
Other Commitments [Line Items] | ||||||||
Unused Commitments to Extend Credit | 217,177 | 217,177 | 209,217 | |||||
Allowance for credit losses on loans | 2,203 | 8,835 | 2,203 | 8,835 | 3,175 | 3,972 | 11,223 | 11,141 |
Consumer Portfolio Segment [Member] | ||||||||
Other Commitments [Line Items] | ||||||||
Unused Commitments to Extend Credit | 307,906 | 307,906 | 285,010 | |||||
Allowance for credit losses on loans | 2,568 | 3,261 | 2,568 | 3,261 | 2,299 | 2,627 | 4,348 | 5,894 |
Unused Commitments to Extend Credit [Member] | ||||||||
Other Commitments [Line Items] | ||||||||
Provision for Other Credit Losses | (555) | (1,166) | (1,610) | (2,230) | ||||
Allowance for credit losses on loans | $ 997 | $ 2,451 | $ 997 | $ 2,451 | $ 1,552 | $ 2,607 | $ 3,617 | $ 4,681 |