Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | Apr. 30, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2022 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Document Transition Report | false | |
Entity File Number | 000-26099 | |
Entity Registrant Name | FARMERS & MERCHANTS BANCORP | |
Entity Central Index Key | 0001085913 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 94-3327828 | |
Entity Address, Address Line One | 111 W. Pine Street | |
Entity Address, City or Town | Lodi | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95240 | |
City Area Code | 209 | |
Local Phone Number | 367-2300 | |
Title of 12(g) Security | Common Stock, $0.01 Par Value Per Share | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 783,924 |
UNAUDITED CONSOLIDATED STATEMEN
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 68,774 | $ 52,499 |
Interest bearing deposits with banks | 772,312 | 662,961 |
Total cash and cash equivalents | 841,086 | 715,460 |
Securities available for sale, at fair value | 251,375 | 270,454 |
Securities held to maturity, at amortized cost | 876,257 | 737,052 |
Total investment securities | 1,127,632 | 1,007,506 |
Non-marketable securities | 15,549 | 15,549 |
Loans and leases held for investment | 3,237,619 | 3,237,177 |
Allowance for credit losses | (61,032) | (61,007) |
Loans held for investment, net | 3,176,587 | 3,176,170 |
Bank-owned life insurance | 71,953 | 71,411 |
Premises and equipment, net | 47,423 | 47,730 |
Deferred income tax assets | 30,361 | 25,542 |
Accrued interest receivable | 14,473 | 18,098 |
Goodwill | 11,183 | 11,183 |
Other intangibles | 3,254 | 3,402 |
Other real estate owned | 873 | 873 |
Other assets | 83,802 | 84,796 |
TOTAL ASSETS | 5,424,176 | 5,177,720 |
Deposits: | ||
Noninterest bearing | 1,764,857 | 1,750,330 |
Interest bearing: | ||
Demand | 1,124,470 | 1,097,337 |
Savings and money market | 1,557,332 | 1,400,000 |
Certificate of deposits | 390,780 | 392,485 |
Total interest bearing | 3,072,582 | 2,889,822 |
Total deposits | 4,837,439 | 4,640,152 |
Subordinated debentures | 10,310 | 10,310 |
Interest payable and other liabilities | 111,714 | 64,122 |
TOTAL LIABILITIES | 4,959,463 | 4,714,584 |
SHAREHOLDERS' EQUITY | ||
Preferred shares, no par value, 1,000,000 shares authorized and, none issued or outstanding | 0 | 0 |
Common shares, $0.01 par value, 7,500,000 authorized 785,146 and 789,646 outstanding at March 31, 2022 and December 31, 2021, respectively | 8 | 8 |
Additional paid in capital | 73,264 | 77,516 |
Retained earnings | 404,389 | 387,331 |
Accumulated other comprehensive (loss), net of taxes | (12,948) | (1,719) |
TOTAL SHAREHOLDERS' EQUITY | 464,713 | 463,136 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 5,424,176 | $ 5,177,720 |
UNAUDITED CONSOLIDATED STATEM_2
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
SHAREHOLDERS' EQUITY | ||
Preferred Stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred Stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred Stock, shares issued (in shares) | 0 | 0 |
Preferred Stock, shares outstanding (in shares) | 0 | 0 |
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized (in shares) | 7,500,000 | 7,500,000 |
Common Stock, shares outstanding (in shares) | 785,146 | 789,646 |
UNAUDITED CONSOLIDATED STATEM_3
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Interest income | ||
Interest and fees on loans and leases | $ 37,433 | $ 37,087 |
Interest and dividends on investments | 5,295 | 4,417 |
Interest on deposits with others | 366 | 103 |
Total interest income | 43,094 | 41,607 |
Interest expense | ||
Deposits | 803 | 1,237 |
Subordinated debentures | 82 | 79 |
Total interest expense | 885 | 1,316 |
Net interest income | 42,209 | 40,291 |
Provision for credit losses | 0 | 1,250 |
Net interest income after provision for credit losses | 42,209 | 39,041 |
Noninterest income | ||
Card processing | 1,737 | 1,579 |
Service charges on deposit accounts | 850 | 638 |
Increase in cash surrender value of BOLI | 542 | 526 |
Gain on sale of investment securities | 0 | 1,840 |
Net gain/(loss) on deferred compensation benefits | 412 | 3,540 |
Other | 771 | 1,412 |
Total noninterest income | 4,312 | 9,535 |
Noninterest expense | ||
Salaries and employee benefits | 16,784 | 16,740 |
Net gain/(loss) on deferred compensation benefits | 412 | 3,540 |
Occupancy | 1,154 | 1,231 |
Data processing | 1,215 | 1,224 |
FDIC insurance | 349 | 287 |
Marketing | 316 | 188 |
Legal | 279 | 111 |
Other | 3,279 | 3,042 |
Total noninterest expense | 23,788 | 26,363 |
INCOME BEFORE INCOME TAXES | 22,733 | 22,213 |
Income tax expense | 5,675 | 5,500 |
NET INCOME | $ 17,058 | $ 16,713 |
Earnings per common share: | ||
Basic (in dollars per share) | $ 21.70 | $ 21.17 |
Diluted (in dollars per share) | $ 21.70 | $ 21.17 |
Weighted average number of common shares | ||
Basic (in shares) | 786,096 | 789,646 |
Diluted (in shares) | 786,096 | 789,646 |
UNAUDITED CONSOLIDATED STATEM_4
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract] | ||
Net income | $ 17,058 | $ 16,713 |
Other comprehensive income | ||
Unrealized holding (losses)/gains on securities available for sale | (15,865) | (18,566) |
Reclassification adjustment for (gains)/losses on available for sale securities | 0 | (1,840) |
Amortization of unrealized loss on securities transferred to held to maturity | (77) | (58) |
Net unrealized holding (losses)/gains on securities available for sale | (15,942) | (20,464) |
Income tax benefit/(expense) | 4,713 | 6,049 |
Other comprehensive (loss)/income, net of tax | (11,229) | (14,415) |
Total comprehensive income | $ 5,829 | $ 2,298 |
UNAUDITED CONSOLIDATED STATEM_5
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Common Shares [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) [Member] | Total |
Balance at Dec. 31, 2020 | $ 8 | $ 77,516 | $ 333,070 | $ 13,071 | $ 423,665 |
Balance (in shares) at Dec. 31, 2020 | 789,646 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | $ 0 | 0 | 16,713 | 0 | 16,713 |
Other comprehensive (loss), net of tax | 0 | 0 | 0 | (14,415) | (14,415) |
Cash dividends returned | 0 | 0 | 7 | 0 | 7 |
Balance at Mar. 31, 2021 | $ 8 | 77,516 | 349,790 | (1,344) | 425,970 |
Balance (in shares) at Mar. 31, 2021 | 789,646 | ||||
Balance at Dec. 31, 2021 | $ 8 | 77,516 | 387,331 | (1,719) | $ 463,136 |
Balance (in shares) at Dec. 31, 2021 | 789,646 | 789,646 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | $ 0 | 0 | 17,058 | 0 | $ 17,058 |
Other comprehensive (loss), net of tax | 0 | 0 | 0 | (11,229) | (11,229) |
Repurchase of common stock | $ 0 | (4,252) | 0 | 0 | (4,252) |
Repurchase of common stock (in shares) | (4,500) | ||||
Balance at Mar. 31, 2022 | $ 8 | $ 73,264 | $ 404,389 | $ (12,948) | $ 464,713 |
Balance (in shares) at Mar. 31, 2022 | 785,146 | 785,146 |
UNAUDITED CONSOLIDATED STATEM_6
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 17,058 | $ 16,713 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 0 | 1,250 |
Depreciation and amortization | 656 | 660 |
Net amortization of securities premiums and discounts | 176 | 407 |
Increase in cash surrender value of BOLI | (542) | (527) |
(Increase)/decrease in deferred income taxes, net | (113) | 4,714 |
Gains on sale of securities available for sale | 0 | (1,840) |
Net changes in: | ||
Other assets | 4,709 | 6,258 |
Other liabilities | 6,966 | 1,386 |
Net cash provided by operating activities | 28,910 | 29,021 |
Cash flows from investing activities: | ||
Net change in loans held for investment | (374) | (11,340) |
Purchase of available for sale securities | (10,067) | (199,440) |
Purchase of held to maturity securities | (118,162) | (3,211) |
Maturities/sales of available for sale securities | 13,097 | 110,388 |
Maturities of held to maturity securities | 19,516 | 3,930 |
Purchase of premises and equipment | (363) | (100) |
Purchase of other investments | 0 | (632) |
Proceeds from sale of assets | 34 | 0 |
Net cash used in investing activities | (96,319) | (100,405) |
Cash flows from financing activities: | ||
Net increase in deposits | 197,287 | 180,947 |
Net cash used in share repurchase program | (4,252) | 0 |
Cash dividends returned | 0 | 7 |
Net provided by financing activities | 193,035 | 180,954 |
Net change in cash and cash equivalents | 125,626 | 109,570 |
Cash and cash equivalents, beginning of period | 715,460 | 383,837 |
Cash and cash equivalents, end of period | 841,086 | 493,407 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 951 | 1,943 |
Supplemental disclosures of non-cash transactions: | ||
Investment securities available for sale transferred to held to maturity | 0 | 316,925 |
Security purchases settled in subsequent period | (40,626) | 0 |
Unrealized losses on securities available for sale | $ (15,865) | $ (20,406) |
Basis of Presentation and Signi
Basis of Presentation and Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Basis of Presentation and Significant Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | Note 1—Basis of Presentation and Significant Accounting Policies The accompanying unaudited consolidated financial statements include the accounts Farmers & Merchants Bancorp (“FMCB” or “Bancorp”), a bank holding company incorporated in the State of Delaware and its wholly owned subsidiary, Farmers & Merchants Bank of Central California (“FMB” or “Bank”) collectively (the “Company”). These unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). In preparing these financial statements, the Company has evaluated events and transactions subsequent to March 31, 2022 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information and note disclosures have been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. Certain reclassifications have been made to the 2021 Consolidated Financial Statements and/or schedules to conform to the 2022 presentation. All significant intercompany transactions and balances have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company’s accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. In particular, management has identified several accounting policies that, due to the judgments, estimates and assumptions inherent in those policies, are significant to an understanding of Bank’s financial statements. These policies relate to: (i) the methodology for the recognition of interest income; (ii) the determination of the provision and allowance for credit losses; (iii) the valuation of financial assets and liabilities recorded at fair value; (iv) the valuation of intangibles, such as goodwill and core deposit intangibles (“CDI”); (v) the valuation of other real estate owned (“OREO”); and (vi) the valuation or recognition of deferred tax assets and liabilities. These policies and judgments, estimates and assumptions are described in greater detail in subsequent notes to the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations, Summary of Critical Accounting Policies and Estimates, in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 15, 2022 and Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations Summary of Critical Accounting Policies and Estimates included in this Quarterly Report on Form 10-Q. The information included in this Form 10-Q should be read in conjunction with our 2021 Form 10-K. Interim results are not necessarily indicative of results for a full year or any other interim period. Impact of recent authoritative accounting guidance — The Accounting Standards Codification™ (“ASC”) is the FASB officially recognized source of authoritative GAAP applicable to all public and non-public non-governmental entities. Periodically, the FASB will issue Accounting Standard updates (“ASU”) to its ASC. Rules and interpretive releases of the SEC under the authority of the federal securities laws are also sources of authoritative GAAP for the Company as an SEC registrant. All other accounting literature is non-authoritative. On January 1, 2022, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (ASU) 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, as amended, which replaces the incurred loss methodology that delays recognition until it is probable a loss has been incurred with an expected loss methodology that is referred to as CECL. In adopting ASU 2016-13 (Topic 326) Management determined that the Weighted Average Remaining Maturity (“WARM”) method was most appropriate given the Company’s current size and complexity. The implementation of the WARM method did not result in any material change in the calculation of the Company’s December 31, 2021 Allowance for Credit Losses, therefore, no adjustment to Shareholders’ Equity was made as of January 1, 2022. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The ASU affects loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial asset not excluded from the scope that have the contractual right to receive cash. The ASU replaces the incurred loss impairment methodology in previous GAAP with CECL, a methodology that reflects current expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This ASU requires a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. This ASU broadens the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The use of forecasted information incorporates more timely information in the estimate of expected credit loss, which will be more decision useful to users of the financial statements. The following table illustrates the pre-tax impact of the adoption of this ASU: January - Reported Reported Impact of under Pre- ASC (Dollars in thousands) ASC Adoption Adoption Allowance for credit losses: Real estate: Commercial $ (17,379 ) $ (28,536 ) $ 11,157 Agricultural (14,580 ) (9,613 ) (4,967 ) Residential and home equity (5,879 ) (2,847 ) (3,032 ) Construction (3,311 ) (1,456 ) (1,855 ) Total real estate (41,149 ) (42,452 ) 1,303 Commercial & industrial (11,417 ) (11,489 ) 72 Agricultural (6,363 ) (5,465 ) (898 ) Commercial leases (1,567 ) (938 ) (629 ) Consumer and other (511 ) (663 ) 152 Total allowance for credit losses $ (61,007 ) $ (61,007 ) $ - Subsequent events — The Company has evaluated events occurring subsequent to March 31, 2022 for |
Risks and Uncertainties
Risks and Uncertainties | 3 Months Ended |
Mar. 31, 2022 | |
Risks and Uncertainties [Abstract] | |
Risks and Uncertainties | Note — The COVID-19 pandemic has affected the economy and businesses throughout the U.S., in California and in the markets served by the Company. Designated as an “essential business”, the Company’s subsidiary, Farmers & Merchants Bank of Central California, has kept all branches open and maintained regular business hours during the COVID-19 pandemic. Our staffing levels have remained stable during the COVID-19 pandemic. Through the CARES Act and H.R. 133, as well as related federal and state regulatory actions, the federal government has taken extraordinary efforts to provide financial assistance to individuals and companies to help them move through these difficult times. However, there are no guarantees how long the COVID-19 virus may continue to impact our economy, and therefore, the Company. While we expect the effects of COVID-19 could have an adverse future impact on our business, financial condition and results of operations, we are unable to predict the full extent or nature of these impacts at the current time. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2022 | |
Investment Securities [Abstract] | |
Investment Securities | Note 3—Investment Securities The amortized cost, fair values, and unrealized gains and losses of the securities available-for-sale are as follows: Available-for-Sale Securities Gross Unrealized (Dollars in thousands) Amortized Cost Gains Losses Fair Value As of March 31, 2022 U.S. Treasury notes $ 9,955 $ 41 $ - $ 9,996 U.S. Government-sponsored securities 5,771 54 36 5,789 Mortgage-backed securities (1) 241,585 370 18,054 223,901 Collateralized mortgage obligations (1) 1,549 - 5 1,544 Corporate securities 10,051 - 216 9,835 Other 310 - - 310 Total available-for-sale securities $ 269,221 $ 465 $ 18,311 $ 251,375 (1) collateralized mortgage obligations Available-for-Sale Securities Gross Unrealized (Dollars in thousands) Amortized Cost Gains Losses Fair Value As of December 31, 2021 U.S. Treasury notes $ 9,938 $ 151 $ - $ 10,089 U.S. Government-sponsored securities 6,351 62 39 6,374 Mortgage-backed securities (1) 253,300 3,200 5,380 251,120 Collateralized mortgage obligations (1) 2,412 24 - 2,436 Other 435 - - 435 Total available-for-sale securities $ 272,436 $ 3,437 $ 5,419 $ 270,454 (1) and collateralized mortgage obligations The book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity are as follows: Held-to-Maturity Securities Gross Unrealized (Dollars in thousands) Amortized Gains Losses Fair Value As of March 31, 2022 Municipal securities $ 63,581 $ 162 $ 65 $ 63,678 Mortgage-backed securities (1) 695,249 - 60,650 634,599 Collateralized mortgage obligations (1) 117,427 - 4,795 112,632 Total held-to-maturity securities $ 876,257 $ 162 $ 65,510 $ 810,909 (1) All mortgage-backed securities and collateralized mortgage obligations Held-to-Maturity Securities Gross Unrealized (Dollars in thousands) Amortized Cost Gains Losses Fair Value As of December 31, 2021 Municipal securities $ 66,496 $ 701 $ - $ 67,197 Mortgage-backed securities (1) 596,775 45 11,764 585,056 Collateralized mortgage obligations (1) 73,781 36 229 73,588 Total held-to-maturity securities $ 737,052 $ 782 $ 11,993 $ 725,841 (1) All mortgage-backed securities and collateralized mortgage obligations Fair values are based on quoted market prices or dealer quotes. If a quoted market price or dealer quote is not available, fair value is estimated using quoted market prices for similar securities. As of March 31, 2022, the Company held 585 investment securities of which 102 were in an unrealized loss position for less than twelve months and 100 securities were in an unrealized loss position for twelve months or more. Management periodically evaluates each investment security for other-than-temporary impairment relying primarily on industry analyst reports and observations of market conditions and interest rate fluctuations. Management believes it will be able to collect all amounts due according to the contractual terms of the underlying investment securities. The following tables show the gross unrealized losses for available-for-sale securities that are less than 12 months and 12 months or more: Available-for-Sale Securities As of March 31, 2022 Less Than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses As of March 31 2022 U.S. Government-sponsored securities $ 15 $ - $ 1,992 $ 36 $ 2,007 $ 36 Mortgage-backed securities (1) 81,711 3,753 114,391 14,301 196,102 18,054 Collateralized Mortgage Obligations (1) 1,544 5 - - 1,544 5 Corporate securities 9,835 216 - - 9,835 216 Total available-for-sale securities $ 93,105 $ 3,974 $ 116,383 $ 14,337 $ 209,488 $ 18,311 (1) All mortgage-backed securities and collateralized mortgage obligations Available-for-Sale Securities As of December 31, 2021 Less Than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses As of December 31, 2021 U.S. Government-sponsored securities $ 183 $ - $ 2,007 $ 39 $ 2,190 $ 39 Mortgage-backed securities (1) 61,469 1,192 104,489 4,188 165,958 5,380 Total available-for-sale securities $ 61,652 $ 1,192 $ 106,496 $ 4,227 $ 168,148 $ 5,419 (1) All mortgage-backed securities The following tables show the gross unrealized losses for held-to-maturity securities that are less than 12 months and 12 months or more: Held-to-Maturity Securities As of March 31, 2022 (Dollars in thousands) Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses As of March 31 2022 Municipal securities $ 1,034 $ 65 $ - $ - $ 1,034 $ 65 Mortgage-backed securities (1) 398,924 31,318 234,460 29,332 633,384 60,650 Collateralized mortgage obligations (1) 73,221 4,795 - - 73,221 4,795 Total held-to-maturity securities $ 473,179 $ 36,178 $ 234,460 $ 29,332 $ 707,639 $ 65,510 (1) All mortgage-backed securities and collateralized mortgage obligations Held-to-Maturity Securities As of December 31, 2021 (Dollars in thousands) Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses As of December 31, 2021 Mortgage-backed securities (1) $ 570,119 $ 11,764 $ - $ - $ 570,119 $ 11,764 Collateralized mortgage obligations (1) 58,977 229 - - 58,977 229 Total held-to-maturity securities $ 629,096 $ 11,993 $ - $ - $ 629,096 $ 11,993 (1) All mortgage-backed securities and collateralized mortgage obligations U.S. Government-sponsored securities. The unrealized losses were caused by interest rate fluctuations. The decline in market value is attributable to changes in interest rates and not credit quality. The Company does not intend to sell the investments and it is more likely than not that the Company will not be requied to sell the investments before recovery of their amortized cost basis. Mortgage-backed securities and collateralized mortgage obligations. The unrealized losses were caused by interest rate fluctuations. The contractual cash flows of these investments are guaranteed by an agency or government-sponsored entity of the U.S. government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost of the Company’s investment. The decline in market value is attributable to changes in interest rates and not credit quality. The Company does not intend to sell the securities and it is more likely than not that the Company will not have to sell the securities before recovery of their amortized cost basis. Corporate securities. Changes in the prices of corporate securities are primarily influenced by: (1) changes in market interest rates; (2) changes in perceived credit risk in the general economy or in particular industries; (3) changes in the perceived credit risk of a particular company; and (4) day to day trading supply, demand and liquidity. The Company monitors the status of each of our corporate securities and at the current time does not believe any of them to be exhibiting financial problems that could result in a loss in any individual security. The Company does not intend to sell the securities and it is more likely than not that the Company would not have to sell the securities before recovery of their amortized cost basis. Obligations of states and political subdivisions. The Company’s bank-qualified municipal bond portfolio was rated at either the issue or issuer level, and all of these ratings are “investment grade.” The Company monitors the status of all municipal investments in the portfolio and at the current time does not believe any of them to be exhibiting financial problems that could result in a loss in any individual security. The amortized cost and estimated fair values of investment securities at March 31, 2022 by contractual maturity are shown in the following tables: Available-for-Sale Held-to-Maturity (Dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Securities maturing in: One year or less $ 10,268 $ 10,310 $ 908 $ 908 After one year through five years 5,160 5,073 7,118 7,113 After five years through ten years 5,455 5,326 16,690 16,846 After ten years 5,204 5,221 38,865 38,811 $ 26,087 $ 25,930 $ 63,581 $ 63,678 Securities not due at a single maturity date: Mortgage-backed securities 241,585 223,901 695,249 634,599 Collateralized Mortgage Obligations 1,549 1,544 117,427 112,632 Total $ 269,221 $ 251,375 $ 876,257 $ 810,909 Expected maturities of mortgage-backed securities may differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. The Company monitors the credit quality of available-for-sale and held-to-maturity debt securities through the use of credit rating. Credit ratings are reviewed and updated quarterly. The following table summarizes the fair value of available-for-sale and amortized cost of held-to-maturity debt securities by credit rating at March 31, 2022: Available-for-Sale Held-to-Maturity Fair Value Amortized Cost (Dollars in thousands) AAA/AA/A BBB/BB/B Not Rated AAA/AA/A BBB/BB/B Not Rated March 31, 2022 Breakdown by Category: U.S. Treasury notes (1) $ - $ - $ 9,996 $ - $ - $ - U.S. Government-sponsored securities - - 5,789 - - - Mortgage-backed securities (1) - - 223,901 - - 695,249 Collateralized mortgage obligations (1) - - 1,544 - - 117,427 Obligations of States and Political Subdivisions - - - 19,715 134 43,732 Corporate securities 9,835 - - - - - Other - - 310 - - - Total Investment Grade $ 9,835 $ - $ 241,540 $ 19,715 $ 134 $ 856,408 (1) All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. All U.S. Treasury notes are backed by the “full faith and credit” of the U.S. Government. Proceeds from sales and calls of these securities were as follows: (Dollars in thousands) Gross Proceeds Gross Gains Gross Losses Three months ended March 31, 2022 $ 2,190 $ - $ - Three months ended March 31, 2021 $ 63,788 $ 1,840 $ - Pledged Securities As of March 31, 2022, securities carried at $490 million were pledged to secure public deposits, Federal Home Loan Bank (“FHLB”) borrowings, and other government agency deposits as required by law. This amount was $426 million at December 31, 2021. |
Loans and Leases
Loans and Leases | 3 Months Ended |
Mar. 31, 2022 | |
Loans and Leases [Abstract] | |
Loans and Leases | Note 4— Loans and Leases Loans and leases as of the dates indicated consisted of the following: (Dollars in thousands) March 31, December 31, 2021 Loans and leases held-for-investment, net Real estate: Commercial $ 1,172,804 $ 1,167,516 Agricultural 695,565 672,830 Residential and home equity 359,214 350,581 Construction 204,794 177,163 Total real estate 2,432,377 2,368,090 Commercial & industrial 437,199 427,799 Agricultural (1) 251,469 276,684 Commercial leases 92,445 96,971 Consumer and other (2) 33,255 78,367 Total gross loans and leases 3,246,745 3,247,911 Unearned income (9,126 ) (10,734 ) Total net loans and leases 3,237,619 3,237,177 Allowance for credit losses (61,032 ) (61,007 ) Total loans and leases held-for-investment, net $ 3,176,587 $ 3,176,170 (1) The reduction in Agricultural loans is the result of the seasonal cycle, with the first quarter being outside the growing period. (2) Includes SBA PPP loans. Paycheck Protection Program (“PPP”) — Under the CARES Act and H.R. 133 (see “Note 2 – Risks and Uncertainties”) the Small Business Administration (“SBA”) was directed by Congress to provide loans to small businesses with less than 500 employees to assist these businesses in meeting their payroll and other financial obligations during the COVID-19 pandemic. These government guaranteed loans are made with an interest rate of 1%, a risk weight of 0% under risk-based capital rules, have a term of 2 to 5 years, and under certain conditions the SBA will forgive them. The Bank actively participated in the PPP, and since April 2020, the Bank has funded $ million of loans for small business customers. PPP loans outstanding were and at March and December respectively. At March 31, 2022, the portion of loans that were approved for pledging as collateral on borrowing lines with the Federal Home Loan Bank (“FHLB”) and the Federal Reserve Bank (“FRB”) were $1.2 billion and $860 million, respectively. The borrowing capacity on these loans was $812.5 million from FHLB and $664 million from the FRB. The following tables show an aging analysi s of the loan & lease portfolio, including unearned income, by the time past due for the periods indicated: March 31, 2022 (Dollars in thousands) Current 30-89 Days Past Due 90+ Days Past Due Non- accrual Total Past Due Total Loans and leases held-for-investment, net Real estate: Commercial $ 1,162,528 $ 1,251 $ - $ 437 $ 1,688 $ 1,164,216 Agricultural 695,565 - - - - 695,565 Residential and home equity 358,849 365 - - 365 359,214 Construction 204,794 - - - - 204,794 Total real estate 2,421,736 1,616 - 437 2,053 2,423,789 Commercial & Industrial 437,199 - - - - 437,199 Agricultural 250,669 800 - - 800 251,469 Commercial leases 91,907 - - - - 91,907 Consumer and other 33,208 47 - - 47 33,255 Total loans and leases, net $ 3,234,719 $ 2,463 $ - $ 437 $ 2,900 $ 3,237,619 December 31, 2021 (Dollars in thousands) Current 30-89 Days Past Due 90+ Days Past Due Non- ccrual Total Past Due Total Loans and leases held-for-investment, net Real estate: Commercial $ 1,156,879 $ 459 $ - $ - $ 459 $ 1,157,338 Agricultural 672,812 - - 18 18 672,830 Residential and home equity 350,492 89 - - 89 350,581 Construction 177,163 - - - - 177,163 Total real estate 2,357,346 548 - 18 566 2,357,912 Commercial & Industrial 427,799 - - - - 427,799 Agricultural 276,186 - - 498 498 276,684 Commercial leases 96,415 - - - - 96,415 Consumer and other 78,363 4 - - 4 78,367 Total loans and leases, net $ 3,236,109 $ 552 $ - $ 516 $ 1,068 $ 3,237,177 Non-accrual loans are summarized as follows: (Dollars in thousands) March 31, 2022 December 31, 2021 Non-accrual loans and leases: Non-accrual loans and leases, not TDRs Real estate: Commercial $ 437 $ - Agricultural - 18 Residential and home equity - - Construction - - Total real estate 437 18 Commercial & Industrial - - Agricultural - - Commercial leases - - Consumer and other - - Subtotal 437 18 Non-accrual loans and leases, are TDRs Real estate: Commercial $ - $ - Agricultural - - Residential and home equity - - Construction - - Total real estate - - Commercial & Industrial - - Agricultural - 498 Commercial leases - - Consumer and other - - Subtotal - 498 Total non-accrual loans and leases $ 437 $ 516 The following table lists total troubled debt restructured loans that the Company is either accruing or not accruing interest by loan category: (Dollars in thousands) March 31, 2022 December 31, 2021 Troubled debt restructured loans and leases: Accruing TDR loans and leases Real estate: Commercial $ - $ 41 Agricultural - - Residential and home equity 1,347 1,522 Construction - - Total real estate 1,347 1,563 Commercial & Industrial 255 260 Agricultural - - Commercial leases - - Consumer and other 1 1 Subtotal 1,603 1,824 Non-accruing TDR loans and leases Real estate: Commercial - - Agricultural - - Residential and home equity - - Construction - - Total real estate - - Commercial & Industrial - - Agricultural - 498 Commercial leases - - Consumer and other - - Subtotal - 498 Total TDR loans and leases $ 1,603 $ 2,322 The below table summarize TDRs outstanding as of March 31, 2022, by year of occurrence: March 31, 2022 (Dollars in thousands) # of Accruing TDR $ of Accruing TDR # of Non- Accruing TDR $ of Non- Accruing TDR # of Total TDR $ of Total TDR Loan and lease TDRs 2022 - $ - - $ - - $ - 2021 1 48 - - 1 48 2020 5 468 - - 5 468 2019 - - - - - - Thereafter 9 1,087 - - 9 1,087 Total 15 $ 1,603 - $ - 15 $ 1,603 The Company did not enter into any troubled debt restructuring with borrowers during the three months ended March 31, 2022 and 2021, respectively. Outstanding loan balances (accruing and non-accruing) categorized by these credit quality indicators are summarized as follows: March 31, 2022 (Dollars in thousands) Pass Special Mention Sub- standard Doubtful Total Loans & Leases Total Allowance for Credit Losses Loans and leases held-for-investment, net Real estate: Commercial $ 1,153,584 $ 6,878 $ 3,754 $ - $ 1,164,216 $ 17,920 Agricultural 683,415 5,996 6,154 - 695,565 14,591 Residential and home equity 358,847 - 367 - 359,214 6,759 Construction 204,794 - - - 204,794 3,777 Total real estate 2,400,640 12,874 10,275 - 2,423,789 43,047 Commercial & Industrial 427,109 9,437 653 - 437,199 10,361 Agricultural 249,972 1,477 20 - 251,469 5,737 Commercial leases 91,772 135 - - 91,907 1,466 Consumer and other 33,081 - 174 - 33,255 421 Total loans and leases, net $ 3,202,574 $ 23,923 $ 11,122 $ - $ 3,237,619 $ 61,032 December 31, 2021 (Dollars in thousands) Pass Special Mention Sub- standard Doubtful Total Loans & Leases Total Allowance for Credit Losses Loans and leases held-for-investment, net Real estate: Commercial $ 1,142,175 $ 6,903 $ 8,260 $ - $ 1,157,338 $ 28,536 Agricultural 663,157 3,292 6,381 - 672,830 9,613 Residential and home equity 350,148 - 433 - 350,581 2,847 Construction 177,163 - - - 177,163 1,456 Total real estate 2,332,643 10,195 15,074 - 2,357,912 42,452 Commercial & Industrial 417,806 9,321 672 - 427,799 11,489 Agricultural 275,206 958 520 - 276,684 5,465 Commercial leases 96,415 - - - 96,415 938 Consumer and other 78,181 - 186 - 78,367 663 Total loans and leases, net $ 3,200,251 $ 20,474 $ 16,452 $ - $ 3,237,177 $ 61,007 The following table represents outstanding loan balances by credit quality indicators and vintage year by class of financing receivable as of March 31, 2022: March 31, 2022 Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Total Net loans and leases held-for-investment Real estate: Commercial Pass $ 25,293 $ 247,149 $ 164,009 $ 82,890 $ 95,039 $ 254,266 $ 284,938 $ 1,153,584 Special mention - - - - 3,888 840 2,150 6,878 Substandard - - - - - 3,104 650 3,754 Doubtful - - - - - - - - Total commercial $ 25,293 $ 247,149 $ 164,009 $ 82,890 $ 98,927 $ 258,210 $ 287,738 $ 1,164,216 Agricultural real estate Pass $ 12,121 $ 43,482 $ 58,501 $ 15,393 $ 56,374 $ 159,386 $ 338,158 $ 683,415 Special mention - - 2,382 2,636 143 - 835 5,996 Substandard - - - - 118 6,036 - 6,154 Doubtful - - - - - - - - Total agricultural real estate $ 12,121 $ 43,482 $ 60,883 $ 18,029 $ 56,635 $ 165,422 $ 338,993 $ 695,565 Residential and home equity Pass $ 21,332 $ 101,603 $ 93,842 $ 16,431 $ 7,719 $ 88,166 $ 29,754 $ 358,847 Special mention - - - - - - - - Substandard - - - - - 220 147 367 Doubtful - - - - - - - - Total residential and home equity $ 21,332 $ 101,603 $ 93,842 $ 16,431 $ 7,719 $ 88,386 $ 29,901 $ 359,214 Construction Pass $ - $ - $ - $ 2,275 $ - $ 122 $ 202,397 $ 204,794 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total construction $ - $ - $ - $ 2,275 $ - $ 122 $ 202,397 $ 204,794 Total real estate $ 58,746 $ 392,234 $ 318,734 $ 119,625 $ 163,281 $ 512,140 $ 859,029 $ 2,423,789 Commercial & industrial Pass $ 4,368 $ 45,633 $ 16,791 $ 15,010 $ 11,515 $ 9,983 $ 323,809 $ 427,109 Special mention - 82 - - - 4 9,351 9,437 Substandard - - - - 38 31 584 653 Doubtful - - - - - - - - Total commercial & industrial $ 4,368 $ 45,715 $ 16,791 $ 15,010 $ 11,553 $ 10,018 $ 333,744 $ 437,199 Agriculture Pass $ 1,236 $ 4,736 $ 1,353 $ 1,624 $ 834 $ 2,358 $ 237,831 $ 249,972 Special mention - - - - - 98 1,379 1,477 Substandard - - - 15 5 - - 20 Doubtful - - - - - - - - Total Agriculture $ 1,236 $ 4,736 $ 1,353 $ 1,639 $ 839 $ 2,456 $ 239,210 $ 251,469 Commercial leases Pass $ 3,635 $ 14,816 $ 14,904 $ 9,041 $ 22,133 $ 27,243 $ - $ 91,772 Special mention - - - 135 - - - 135 Substandard - - - - - - - - Doubtful - - - - - - - - Total commercial leases $ 3,635 $ 14,816 $ 14,904 $ 9,176 $ 22,133 $ 27,243 $ - $ 91,907 Consumer and other Pass $ 612 $ 26,679 $ 967 $ 425 $ 656 $ 2,870 $ 872 $ 33,081 Special mention - - - - - - - - Substandard - - - - - 47 127 174 Doubtful - - - - - - - - Total consumer and other $ 612 $ 26,679 $ 967 $ 425 $ 656 $ 2,917 $ 999 $ 33,255 Total net loans and leases $ 68,597 $ 484,180 $ 352,749 $ 145,875 $ 198,462 $ 554,774 $ 1,432,982 $ 3,237,619 The following tables provide amortized cost basis for collateral dependent loans as of March 31, 2022 and December 31, 2021, respectively: March 31, 2022 (Dollars in thousands) Real Estate Vehicles Total Collateral dependent loans and leases Real estate: Commercial $ 1 $ - $ 1 Agricultural 5,560 - 5,560 Residential and home equity 235 - 235 Construction - - - Total real estate 5,796 - 5,796 Commercial & Industrial - - - Agricultural - - - Commercial leases - - - Consumer and other - 169 169 Total gross loans and leases $ 5,796 $ 169 $ 5,965 December 31, 2021 (Dollars in thousands) Real Estate Vehicles Total Collateral dependent loans and leases Real estate: Commercial $ 5 $ - $ 5 Agricultural 5,587 - 5,587 Residential and home equity 330 - 330 Construction - - - Total real estate 5,922 - 5,922 Commercial & Industrial - - - Agricultural - - - Commercial leases - - - Consumer and other - 173 173 Total gross loans and leases $ 5,922 $ 173 $ 6,095 Changes in the allowance for credit losses are as follows: For the Three Months Ended March 31, 2022 (Dollars in thousands) Commercial & Agricultural Construction Residential & Home Equity Commercial & Agricultural Commercial Leases Consumer Total Allowance for credit losses: Balance at beginning of period, prior to adoption of ASC 326 $ 38,149 $ 1,456 $ 2,847 $ 16,954 $ 938 $ 663 $ 61,007 Impact of adopting ASC 326 (6,190 ) 1,855 3,032 826 629 (152 ) - Provision / (recapture) for credit losses 552 466 866 (1,700 ) (101 ) (83 ) - Charge-offs - - - - - (9 ) (9 ) Recoveries - - 14 18 - 2 34 Net (charge-offs) / recoveries - - 14 18 - (7 ) 25 Balance at end of period $ 32,511 $ 3,777 $ 6,759 $ 16,098 $ 1,466 $ 421 $ 61,032 For the Three Months Ended March 31, 2021 (Dollars in thousands) Commercial & Agricultural R/E Construction Residential & Home Equity Commercial & Agricultural Commercial Leases Consumer & Other Total Allowance for credit losses: Balance at beginning of period $ 36,312 $ 1,643 $ 2,984 $ 14,775 $ 1,731 $ 1,417 $ 58,862 Provision / (recapture) for credit losses 1,802 4 (135 ) (584 ) (57 ) 220 1,250 Charge-offs - - - - - (8 ) (8 ) Recoveries - - 32 32 - 7 71 Net (charge-offs) / recoveries - - 32 32 - (1 ) 63 Balance at end of period $ 38,114 $ 1,647 $ 2,881 $ 14,223 $ 1,674 $ 1,636 $ 60,175 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2022 | |
Deposits [Abstract] | |
Deposits | Note 5 — Deposits Certificate of deposits greater than and less than or equal to the FDIC insurance limit are summarized as follows: (Dollars in thousands) March 31, 2022 December 31, 2021 Certificate of deposits: Certificates of deposits less than or equal to $250,000 221,904 223,620 Certificates of deposits greater than $250,000 168,876 168,865 Total certificates of deposits 390,780 392,485 Scheduled maturities for certificates of deposit are as follows: (Dollars in thousands) Amount 2022 $ 291,366 2023 89,678 2024 5,633 2025 1,818 2026 2,285 Total time deposits $ 390,780 |
Shareholders' Equity
Shareholders' Equity | 3 Months Ended |
Mar. 31, 2022 | |
Shareholders' Equity [Abstract] | |
Shareholders' Equity | Note 6—Shareholders’ Equity The Company and the Bank are subject to various federal regulatory capital requirements under the Basel III Capital Rules. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Company and the Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Company believes that it is currently in compliance with all of these capital requirements and that they will not result in any restrictions on the Company’s business activity. Management believes that the Bank meets the requirements to be categorized as “well capitalized” under the FDIC regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following tables. The Company’s actual and required capital amounts and ratios are as follows: March 31, 2022 Actual Minimum Capital Requirement Well Capitalized Requirment (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Farmers & Merchants Bancorp CET1 capital to risk-weighted assets $ 463,607 11.63 % $ 179,354 4.50 % N/A N/A Tier 1 capital to risk-weighted assets 473,607 11.88 % 239,139 6.00 % N/A N/A Risk-based capital to risk-weighted assets 523,580 13.14 % 318,851 8.00 % N/A N/A Tier 1 leverage capital ratio 473,607 8.45 % 224,315 4.00 % N/A N/A Farmers & Merchants Bank CET1 capital to risk-weighted assets $ 472,965 11.87 % $ 179,339 4.50 % $ 259,046 6.50 % Tier 1 capital to risk-weighted assets 472,965 11.87 % 239,119 6.00 % 318,826 8.00 % Risk-based capital to risk-weighted assets 522,934 13.12 % 318,826 8.00 % 398,532 10.00 % Tier 1 leverage capital ratio 472,965 8.94 % 211,642 4.00 % 264,552 5.00 % December 31, 2021 Actual Minimum Capital Requirement Well Capitalized Requirment (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Farmers & Merchants Bancorp CET1 capital to risk-weighted assets $ 450,687 11.68 % $ 173,674 4.50 % N/A N/A Tier 1 capital to risk-weighted assets 460,687 11.94 % 231,566 6.00 % N/A N/A Risk-based capital to risk-weighted assets 509,091 13.19 % 308,755 8.00 % N/A N/A Tier 1 leverage capital ratio 460,687 8.92 % 206,606 4.00 % N/A N/A Farmers & Merchants Bank CET1 capital to risk-weighted assets $ 459,813 11.91 % $ 173,664 4.50 % $ 250,847 6.50 % Tier 1 capital to risk-weighted assets 459,813 11.91 % 231,551 6.00 % 308,735 8.00 % Risk-based capital to risk-weighted assets 508,215 13.17 % 308,735 8.00 % 385,919 10.00 % Tier 1 leverage capital ratio 459,813 8.91 % 206,426 4.00 % 258,033 5.00 % Basic and diluted earnings per common share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Earnings per common share have been computed based on the following: Three Months Ended March 31, (Dollars in thousands, except share and per share amounts) 2022 2021 Numerator Net income $ 17,058 $ 16,713 Denominator Weighted average number of common shares outstanding 786,096 789,646 Weighted average number of dilutive shares outstanding 786,096 789,646 Basic earnings per common share $ 21.70 $ 21.17 Diluted earning per common share $ 21.70 $ 21.17 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 7—Fair Value Measurements The Company follows the “Fair Value Measurement and Disclosures” topic of the FASB ASC, which establishes a framework for measuring fair value in U.S. GAAP and expands disclosures about fair value measurements. This standard applies whenever other standards require, or permit assets or liabilities to be measured at fair value but does not expand the use of fair value in any new circumstances. In this standard, the FASB clarifies the principle that fair value should be based on the assumptions market participants would use when pricing the asset or liability. In support of this principle, this standard establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. The fair value hierarchy is as follows: Level 1 inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Level 2 inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs – Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. Management monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. Management evaluates the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total assets, total liabilities or total earnings. Securities classified as available-for-sale are reported at fair value on a recurring basis utilizing Level 1, 2 and 3 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s The Company does not record all loans and leases at fair value on a recurring basis. However, from time to time, a loan or lease is considered collateral dependent and an allowance for credit losses is established. Once a loan or lease is identified as collaterally dependent, management measures impairment in accordance with the “Receivable” topic of the FASB ASC. The fair value of loans or leases is estimated using one of several methods, including collateral value when the loan is collateral dependent, market value of similar debt, enterprise value, and discounted cash flows. Collateral dependent loans and leases not requiring an allowance represent loans and leases for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans and leases. loans and leases where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. These appraisals may utilize a single valuation approach or a combination of approaches including sales comparison, cost and the income approach. Adjustments are often made in the appraisal process by the appraisers to take in to account differences between the comparable sales and income and other available data. Such adjustments can be significant and typically result in a Level 3 classification of the inputs for determining fair value. The valuation technique used for Level 3 nonrecurring collateral dependent loans is primarily the sales comparison approach less selling costs of 10%. OREO is reported at fair value on a non-recurring basis. Fair values are based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including sales comparison, cost and the income approach. Adjustments are often made in the appraisal process by the appraisers to take in to account differences between the comparable sales and income and other available data. Such adjustments can be significant and typically result in a Level 3 classification of the inputs for determining fair value. The valuation technique used for Level 3 nonrecurring OREO is primarily the sales comparison approach less selling costs of 10%. The following tables present information about the Company’s assets and liabilities at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated. March 31 2022 Fair Value (Dollars in thousands) Carrying Amount Level 1 Level 2 Level 3 Total Fair Value Financial Assets: Cash and cash equivalents $ 841,086 $ 841,086 $ - $ - $ 841,086 Investment securities available-for-sale 251,375 9,996 241,379 - 251,375 Investment securities held-to-maturity 876,257 - 771,971 43,732 815,703 Non-marketable securities 15,549 - - 15,549 15,549 Loans and leases, net 3,176,587 - - 3,184,796 3,184,796 Bank-owned life insurance 71,953 71,953 - - 71,953 Financial Liabilities: Total deposits 4,837,439 $ 4,446,659 $ - $ 387,625 $ 4,834,284 Subordinated debentures 10,310 - 9,766 - 9,766 December 31, 2021 Fair Value (Dollars in thousands) Carrying Amount Level 1 Level 2 Level 3 Total Fair Value Financial Assets: Cash and cash equivalents $ 715,460 $ 715,460 $ - $ - $ 715,460 Investment securities available-for-sale 270,454 10,214 260,240 - 270,454 Investment securities held-to-maturity 737,052 - 681,588 44,446 726,034 Non-marketable securities 15,549 - - 15,549 15,549 Loans and leases, net 3,176,170 - - 3,179,857 3,179,857 Bank-owned life insurance 71,411 71,411 - - 71,411 Financial Liabilities: Total deposits $ 4,640,152 $ 4,247,666 $ - $ 391,732 $ 4,639,398 Subordinated debentures 10,310 - 6,890 - 6,890 Non-recurring Measurements: collateral dependent loans are classified with Level 3 of the fair value hierarchy. The estimated fair value of collateral dependent loans is based on the fair value of the collateral, less estimated costs to sell. The Company receives an appraisal or performs an evaluation for each collateral dependent loan. The key inputs used to determine the fair value of collateral dependent loans include selling costs, and adjustment to comparable collateral. Valuations and significant inputs obtained by independent sources are reviewed by the Company for accuracy and reasonableness. Appraisals are typically obtained at least on an annual basis. The Company also considers other factors and events that may affect the fair value. The appraisals or evaluations are reviewed at least on a quarterly basis to determine if any adjustments are needed. After review and acceptance of the appraisal or evaluation, adjustments to collateral dependent loans may occur. The following tables present information about the Bank’s assets and liabilities measured at fair value on a recurring and non-recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Bank to determine such fair value for the periods indicated. March 31 2022 Fair Value Measurements (Dollars in thousands) Carrying Amount Level 1 Level 2 Level 3 Total Fair Value Fair valued on a recurring basis: Investment securities available-for-sale U.S. Treasury notes $ 9,996 $ 9,996 $ - $ - $ 9,996 U.S. Government-sponsored securities 5,789 - 5,789 - 5,789 Mortgage-backed securities 223,901 - 223,901 - 223,901 Collateralized mortgage obligations 1,544 - 1,544 - 1,544 Corporate securities 9,835 - 9,835 - 9,835 Other 310 - 310 - 310 Fair valued on a non-recurring basis: Other real estate 873 - - 873 873 December 31, 2021 Fair Value Measurements (Dollars in thousands) Carrying Amount Level 1 Level 2 Level 3 Total Fair Value Fair valued on a recurring basis: Investment securities available-for-sale U.S. Treasury notes $ 10,089 $ 10,089 $ - $ - $ 10,089 U.S. Government-sponsored securities 6,374 - 6,374 - 6,374 Mortgage-backed securities 251,120 - 251,120 - 251,120 Collateralized mortgage obligations 2,436 - 2,436 - 2,436 Other 435 125 310 - 435 Fair valued on a non-recurring basis: Individually evaluated loans $ 2,562 $ - $ - $ 2,562 $ 2,562 Other real estate 873 - - 873 873 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | Note 8—Commitments and Contingencies In the normal course of business, the Company enters into financial instruments with off balance sheet risk in order to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These instruments include commitments to extend credit, letters of credit, and other types of financial guarantees. The Company had the following off balance sheet commitments as of the dates indicated. (Dollars in thousands) March 31, 2022 December 31, 2021 Commitments to extend credit, including unsecured commitments of $ 20,907 21,036 $ 987,423 $ 937,009 Stand-by letters of credit, including unsecured commitments of $ 8,361 9,091 16,250 17,880 Performance guarantees under interest rate swap contracts entered into with our clients and third-parties 191 1,433 The Company’s exposure to credit loss in the event of nonperformance by the other party with regard to standby letters of credit, undisbursed loan commitments, and financial guarantees is represented by the contractual notional amount of those instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. The Company uses the same credit policies in making commitments and conditional obligations as it does for recorded balance sheet items. The Company may or may not require collateral or other security to support financial instruments with credit risk. Evaluations of each customer’s creditworthiness are performed on a case-by-case basis. Standby letters of credit are conditional commitments issued by the Company to guarantee performance of or payment for a customer to a third-party. Outstanding standby letters of credit have maturity dates ranging from 1 to 60 months with final expiration in January 2027. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. In the ordinary course of business, the Company becomes involved in litigation arising out of its normal business activities. Management, after consultation with legal counsel, believes that the ultimate liability, if any, resulting from the disposition of such claims would not be material in relation to the financial position of the Company. The Company may be required to maintain average reserves on deposit with the Federal Reserve Bank primarily based on deposits outstanding. Reserve requirements are offset by the Company’s vault cash and deposit balances maintained with the Federal Reserve Bank. |
Basis of Presentation and Sig_2
Basis of Presentation and Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Basis of Presentation and Significant Accounting Policies [Abstract] | |
Accounting Standards Adoption | On January 1, 2022, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (ASU) 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, as amended, which replaces the incurred loss methodology that delays recognition until it is probable a loss has been incurred with an expected loss methodology that is referred to as CECL. In adopting ASU 2016-13 (Topic 326) Management determined that the Weighted Average Remaining Maturity (“WARM”) method was most appropriate given the Company’s current size and complexity. The implementation of the WARM method did not result in any material change in the calculation of the Company’s December 31, 2021 Allowance for Credit Losses, therefore, no adjustment to Shareholders’ Equity was made as of January 1, 2022. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The ASU affects loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial asset not excluded from the scope that have the contractual right to receive cash. The ASU replaces the incurred loss impairment methodology in previous GAAP with CECL, a methodology that reflects current expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This ASU requires a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. This ASU broadens the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The use of forecasted information incorporates more timely information in the estimate of expected credit loss, which will be more decision useful to users of the financial statements. The following table illustrates the pre-tax impact of the adoption of this ASU: January - Reported Reported Impact of under Pre- ASC (Dollars in thousands) ASC Adoption Adoption Allowance for credit losses: Real estate: Commercial $ (17,379 ) $ (28,536 ) $ 11,157 Agricultural (14,580 ) (9,613 ) (4,967 ) Residential and home equity (5,879 ) (2,847 ) (3,032 ) Construction (3,311 ) (1,456 ) (1,855 ) Total real estate (41,149 ) (42,452 ) 1,303 Commercial & industrial (11,417 ) (11,489 ) 72 Agricultural (6,363 ) (5,465 ) (898 ) Commercial leases (1,567 ) (938 ) (629 ) Consumer and other (511 ) (663 ) 152 Total allowance for credit losses $ (61,007 ) $ (61,007 ) $ - |
Subsequent events | Subsequent events — The Company has evaluated events occurring subsequent to March 31, 2022 for |
Basis of Presentation and Sig_3
Basis of Presentation and Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Basis of Presentation and Significant Accounting Policies [Abstract] | |
Pre-tax Impact Adoption of ASU | The following table illustrates the pre-tax impact of the adoption of this ASU: January - Reported Reported Impact of under Pre- ASC (Dollars in thousands) ASC Adoption Adoption Allowance for credit losses: Real estate: Commercial $ (17,379 ) $ (28,536 ) $ 11,157 Agricultural (14,580 ) (9,613 ) (4,967 ) Residential and home equity (5,879 ) (2,847 ) (3,032 ) Construction (3,311 ) (1,456 ) (1,855 ) Total real estate (41,149 ) (42,452 ) 1,303 Commercial & industrial (11,417 ) (11,489 ) 72 Agricultural (6,363 ) (5,465 ) (898 ) Commercial leases (1,567 ) (938 ) (629 ) Consumer and other (511 ) (663 ) 152 Total allowance for credit losses $ (61,007 ) $ (61,007 ) $ - |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investment Securities [Abstract] | |
Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-for-Sale | The amortized cost, fair values, and unrealized gains and losses of the securities available-for-sale are as follows: Available-for-Sale Securities Gross Unrealized (Dollars in thousands) Amortized Cost Gains Losses Fair Value As of March 31, 2022 U.S. Treasury notes $ 9,955 $ 41 $ - $ 9,996 U.S. Government-sponsored securities 5,771 54 36 5,789 Mortgage-backed securities (1) 241,585 370 18,054 223,901 Collateralized mortgage obligations (1) 1,549 - 5 1,544 Corporate securities 10,051 - 216 9,835 Other 310 - - 310 Total available-for-sale securities $ 269,221 $ 465 $ 18,311 $ 251,375 (1) collateralized mortgage obligations Available-for-Sale Securities Gross Unrealized (Dollars in thousands) Amortized Cost Gains Losses Fair Value As of December 31, 2021 U.S. Treasury notes $ 9,938 $ 151 $ - $ 10,089 U.S. Government-sponsored securities 6,351 62 39 6,374 Mortgage-backed securities (1) 253,300 3,200 5,380 251,120 Collateralized mortgage obligations (1) 2,412 24 - 2,436 Other 435 - - 435 Total available-for-sale securities $ 272,436 $ 3,437 $ 5,419 $ 270,454 (1) and collateralized mortgage obligations |
Book Values, Estimated Fair Values and Unrealized Gains and Losses of Investments Classified as Held-To-Maturity | The book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity are as follows: Held-to-Maturity Securities Gross Unrealized (Dollars in thousands) Amortized Gains Losses Fair Value As of March 31, 2022 Municipal securities $ 63,581 $ 162 $ 65 $ 63,678 Mortgage-backed securities (1) 695,249 - 60,650 634,599 Collateralized mortgage obligations (1) 117,427 - 4,795 112,632 Total held-to-maturity securities $ 876,257 $ 162 $ 65,510 $ 810,909 (1) All mortgage-backed securities and collateralized mortgage obligations Held-to-Maturity Securities Gross Unrealized (Dollars in thousands) Amortized Cost Gains Losses Fair Value As of December 31, 2021 Municipal securities $ 66,496 $ 701 $ - $ 67,197 Mortgage-backed securities (1) 596,775 45 11,764 585,056 Collateralized mortgage obligations (1) 73,781 36 229 73,588 Total held-to-maturity securities $ 737,052 $ 782 $ 11,993 $ 725,841 (1) All mortgage-backed securities and collateralized mortgage obligations |
Gross Unrealized Losses for Available-for-Sale Securities | The following tables show the gross unrealized losses for available-for-sale securities that are less than 12 months and 12 months or more: Available-for-Sale Securities As of March 31, 2022 Less Than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses As of March 31 2022 U.S. Government-sponsored securities $ 15 $ - $ 1,992 $ 36 $ 2,007 $ 36 Mortgage-backed securities (1) 81,711 3,753 114,391 14,301 196,102 18,054 Collateralized Mortgage Obligations (1) 1,544 5 - - 1,544 5 Corporate securities 9,835 216 - - 9,835 216 Total available-for-sale securities $ 93,105 $ 3,974 $ 116,383 $ 14,337 $ 209,488 $ 18,311 (1) All mortgage-backed securities and collateralized mortgage obligations Available-for-Sale Securities As of December 31, 2021 Less Than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses As of December 31, 2021 U.S. Government-sponsored securities $ 183 $ - $ 2,007 $ 39 $ 2,190 $ 39 Mortgage-backed securities (1) 61,469 1,192 104,489 4,188 165,958 5,380 Total available-for-sale securities $ 61,652 $ 1,192 $ 106,496 $ 4,227 $ 168,148 $ 5,419 (1) All mortgage-backed securities |
Gross Unrealized Losses for Held-to-Maturity Securities | The following tables show the gross unrealized losses for held-to-maturity securities that are less than 12 months and 12 months or more: Held-to-Maturity Securities As of March 31, 2022 (Dollars in thousands) Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses As of March 31 2022 Municipal securities $ 1,034 $ 65 $ - $ - $ 1,034 $ 65 Mortgage-backed securities (1) 398,924 31,318 234,460 29,332 633,384 60,650 Collateralized mortgage obligations (1) 73,221 4,795 - - 73,221 4,795 Total held-to-maturity securities $ 473,179 $ 36,178 $ 234,460 $ 29,332 $ 707,639 $ 65,510 (1) All mortgage-backed securities and collateralized mortgage obligations Held-to-Maturity Securities As of December 31, 2021 (Dollars in thousands) Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses As of December 31, 2021 Mortgage-backed securities (1) $ 570,119 $ 11,764 $ - $ - $ 570,119 $ 11,764 Collateralized mortgage obligations (1) 58,977 229 - - 58,977 229 Total held-to-maturity securities $ 629,096 $ 11,993 $ - $ - $ 629,096 $ 11,993 (1) All mortgage-backed securities and collateralized mortgage obligations |
Amortized Cost and Estimated Fair Values of Investment Securities by Contractual Maturity | The amortized cost and estimated fair values of investment securities at March 31, 2022 by contractual maturity are shown in the following tables: Available-for-Sale Held-to-Maturity (Dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Securities maturing in: One year or less $ 10,268 $ 10,310 $ 908 $ 908 After one year through five years 5,160 5,073 7,118 7,113 After five years through ten years 5,455 5,326 16,690 16,846 After ten years 5,204 5,221 38,865 38,811 $ 26,087 $ 25,930 $ 63,581 $ 63,678 Securities not due at a single maturity date: Mortgage-backed securities 241,585 223,901 695,249 634,599 Collateralized Mortgage Obligations 1,549 1,544 117,427 112,632 Total $ 269,221 $ 251,375 $ 876,257 $ 810,909 |
Credit Quality of Available-for-Sale and Held-to-Maturity Debt Securities | The Company monitors the credit quality of available-for-sale and held-to-maturity debt securities through the use of credit rating. Credit ratings are reviewed and updated quarterly. The following table summarizes the fair value of available-for-sale and amortized cost of held-to-maturity debt securities by credit rating at March 31, 2022: Available-for-Sale Held-to-Maturity Fair Value Amortized Cost (Dollars in thousands) AAA/AA/A BBB/BB/B Not Rated AAA/AA/A BBB/BB/B Not Rated March 31, 2022 Breakdown by Category: U.S. Treasury notes (1) $ - $ - $ 9,996 $ - $ - $ - U.S. Government-sponsored securities - - 5,789 - - - Mortgage-backed securities (1) - - 223,901 - - 695,249 Collateralized mortgage obligations (1) - - 1,544 - - 117,427 Obligations of States and Political Subdivisions - - - 19,715 134 43,732 Corporate securities 9,835 - - - - - Other - - 310 - - - Total Investment Grade $ 9,835 $ - $ 241,540 $ 19,715 $ 134 $ 856,408 (1) All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. All U.S. Treasury notes are backed by the “full faith and credit” of the U.S. Government. |
Proceeds from Sales and Calls of Securities | Proceeds from sales and calls of these securities were as follows: (Dollars in thousands) Gross Proceeds Gross Gains Gross Losses Three months ended March 31, 2022 $ 2,190 $ - $ - Three months ended March 31, 2021 $ 63,788 $ 1,840 $ - |
Loans and Leases (Tables)
Loans and Leases (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Loans and Leases [Abstract] | |
Components of Loans and Leases | Loans and leases as of the dates indicated consisted of the following: (Dollars in thousands) March 31, December 31, 2021 Loans and leases held-for-investment, net Real estate: Commercial $ 1,172,804 $ 1,167,516 Agricultural 695,565 672,830 Residential and home equity 359,214 350,581 Construction 204,794 177,163 Total real estate 2,432,377 2,368,090 Commercial & industrial 437,199 427,799 Agricultural (1) 251,469 276,684 Commercial leases 92,445 96,971 Consumer and other (2) 33,255 78,367 Total gross loans and leases 3,246,745 3,247,911 Unearned income (9,126 ) (10,734 ) Total net loans and leases 3,237,619 3,237,177 Allowance for credit losses (61,032 ) (61,007 ) Total loans and leases held-for-investment, net $ 3,176,587 $ 3,176,170 (1) The reduction in Agricultural loans is the result of the seasonal cycle, with the first quarter being outside the growing period. (2) Includes SBA PPP loans. |
Aging Analysis of Loan and Lease Portfolio | The following tables show an aging analysi s of the loan & lease portfolio, including unearned income, by the time past due for the periods indicated: March 31, 2022 (Dollars in thousands) Current 30-89 Days Past Due 90+ Days Past Due Non- accrual Total Past Due Total Loans and leases held-for-investment, net Real estate: Commercial $ 1,162,528 $ 1,251 $ - $ 437 $ 1,688 $ 1,164,216 Agricultural 695,565 - - - - 695,565 Residential and home equity 358,849 365 - - 365 359,214 Construction 204,794 - - - - 204,794 Total real estate 2,421,736 1,616 - 437 2,053 2,423,789 Commercial & Industrial 437,199 - - - - 437,199 Agricultural 250,669 800 - - 800 251,469 Commercial leases 91,907 - - - - 91,907 Consumer and other 33,208 47 - - 47 33,255 Total loans and leases, net $ 3,234,719 $ 2,463 $ - $ 437 $ 2,900 $ 3,237,619 December 31, 2021 (Dollars in thousands) Current 30-89 Days Past Due 90+ Days Past Due Non- ccrual Total Past Due Total Loans and leases held-for-investment, net Real estate: Commercial $ 1,156,879 $ 459 $ - $ - $ 459 $ 1,157,338 Agricultural 672,812 - - 18 18 672,830 Residential and home equity 350,492 89 - - 89 350,581 Construction 177,163 - - - - 177,163 Total real estate 2,357,346 548 - 18 566 2,357,912 Commercial & Industrial 427,799 - - - - 427,799 Agricultural 276,186 - - 498 498 276,684 Commercial leases 96,415 - - - - 96,415 Consumer and other 78,363 4 - - 4 78,367 Total loans and leases, net $ 3,236,109 $ 552 $ - $ 516 $ 1,068 $ 3,237,177 |
Non-accrual Loans | Non-accrual loans are summarized as follows: (Dollars in thousands) March 31, 2022 December 31, 2021 Non-accrual loans and leases: Non-accrual loans and leases, not TDRs Real estate: Commercial $ 437 $ - Agricultural - 18 Residential and home equity - - Construction - - Total real estate 437 18 Commercial & Industrial - - Agricultural - - Commercial leases - - Consumer and other - - Subtotal 437 18 Non-accrual loans and leases, are TDRs Real estate: Commercial $ - $ - Agricultural - - Residential and home equity - - Construction - - Total real estate - - Commercial & Industrial - - Agricultural - 498 Commercial leases - - Consumer and other - - Subtotal - 498 Total non-accrual loans and leases $ 437 $ 516 |
Troubled Debt Restructured Loans by Loan Category | The following table lists total troubled debt restructured loans that the Company is either accruing or not accruing interest by loan category: (Dollars in thousands) March 31, 2022 December 31, 2021 Troubled debt restructured loans and leases: Accruing TDR loans and leases Real estate: Commercial $ - $ 41 Agricultural - - Residential and home equity 1,347 1,522 Construction - - Total real estate 1,347 1,563 Commercial & Industrial 255 260 Agricultural - - Commercial leases - - Consumer and other 1 1 Subtotal 1,603 1,824 Non-accruing TDR loans and leases Real estate: Commercial - - Agricultural - - Residential and home equity - - Construction - - Total real estate - - Commercial & Industrial - - Agricultural - 498 Commercial leases - - Consumer and other - - Subtotal - 498 Total TDR loans and leases $ 1,603 $ 2,322 The below table summarize TDRs outstanding as of March 31, 2022, by year of occurrence: March 31, 2022 (Dollars in thousands) # of Accruing TDR $ of Accruing TDR # of Non- Accruing TDR $ of Non- Accruing TDR # of Total TDR $ of Total TDR Loan and lease TDRs 2022 - $ - - $ - - $ - 2021 1 48 - - 1 48 2020 5 468 - - 5 468 2019 - - - - - - Thereafter 9 1,087 - - 9 1,087 Total 15 $ 1,603 - $ - 15 $ 1,603 |
Outstanding Loan Balances Category by Credit Quality Indicators | Outstanding loan balances (accruing and non-accruing) categorized by these credit quality indicators are summarized as follows: March 31, 2022 (Dollars in thousands) Pass Special Mention Sub- standard Doubtful Total Loans & Leases Total Allowance for Credit Losses Loans and leases held-for-investment, net Real estate: Commercial $ 1,153,584 $ 6,878 $ 3,754 $ - $ 1,164,216 $ 17,920 Agricultural 683,415 5,996 6,154 - 695,565 14,591 Residential and home equity 358,847 - 367 - 359,214 6,759 Construction 204,794 - - - 204,794 3,777 Total real estate 2,400,640 12,874 10,275 - 2,423,789 43,047 Commercial & Industrial 427,109 9,437 653 - 437,199 10,361 Agricultural 249,972 1,477 20 - 251,469 5,737 Commercial leases 91,772 135 - - 91,907 1,466 Consumer and other 33,081 - 174 - 33,255 421 Total loans and leases, net $ 3,202,574 $ 23,923 $ 11,122 $ - $ 3,237,619 $ 61,032 December 31, 2021 (Dollars in thousands) Pass Special Mention Sub- standard Doubtful Total Loans & Leases Total Allowance for Credit Losses Loans and leases held-for-investment, net Real estate: Commercial $ 1,142,175 $ 6,903 $ 8,260 $ - $ 1,157,338 $ 28,536 Agricultural 663,157 3,292 6,381 - 672,830 9,613 Residential and home equity 350,148 - 433 - 350,581 2,847 Construction 177,163 - - - 177,163 1,456 Total real estate 2,332,643 10,195 15,074 - 2,357,912 42,452 Commercial & Industrial 417,806 9,321 672 - 427,799 11,489 Agricultural 275,206 958 520 - 276,684 5,465 Commercial leases 96,415 - - - 96,415 938 Consumer and other 78,181 - 186 - 78,367 663 Total loans and leases, net $ 3,200,251 $ 20,474 $ 16,452 $ - $ 3,237,177 $ 61,007 The following table represents outstanding loan balances by credit quality indicators and vintage year by class of financing receivable as of March 31, 2022: March 31, 2022 Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Total Net loans and leases held-for-investment Real estate: Commercial Pass $ 25,293 $ 247,149 $ 164,009 $ 82,890 $ 95,039 $ 254,266 $ 284,938 $ 1,153,584 Special mention - - - - 3,888 840 2,150 6,878 Substandard - - - - - 3,104 650 3,754 Doubtful - - - - - - - - Total commercial $ 25,293 $ 247,149 $ 164,009 $ 82,890 $ 98,927 $ 258,210 $ 287,738 $ 1,164,216 Agricultural real estate Pass $ 12,121 $ 43,482 $ 58,501 $ 15,393 $ 56,374 $ 159,386 $ 338,158 $ 683,415 Special mention - - 2,382 2,636 143 - 835 5,996 Substandard - - - - 118 6,036 - 6,154 Doubtful - - - - - - - - Total agricultural real estate $ 12,121 $ 43,482 $ 60,883 $ 18,029 $ 56,635 $ 165,422 $ 338,993 $ 695,565 Residential and home equity Pass $ 21,332 $ 101,603 $ 93,842 $ 16,431 $ 7,719 $ 88,166 $ 29,754 $ 358,847 Special mention - - - - - - - - Substandard - - - - - 220 147 367 Doubtful - - - - - - - - Total residential and home equity $ 21,332 $ 101,603 $ 93,842 $ 16,431 $ 7,719 $ 88,386 $ 29,901 $ 359,214 Construction Pass $ - $ - $ - $ 2,275 $ - $ 122 $ 202,397 $ 204,794 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total construction $ - $ - $ - $ 2,275 $ - $ 122 $ 202,397 $ 204,794 Total real estate $ 58,746 $ 392,234 $ 318,734 $ 119,625 $ 163,281 $ 512,140 $ 859,029 $ 2,423,789 Commercial & industrial Pass $ 4,368 $ 45,633 $ 16,791 $ 15,010 $ 11,515 $ 9,983 $ 323,809 $ 427,109 Special mention - 82 - - - 4 9,351 9,437 Substandard - - - - 38 31 584 653 Doubtful - - - - - - - - Total commercial & industrial $ 4,368 $ 45,715 $ 16,791 $ 15,010 $ 11,553 $ 10,018 $ 333,744 $ 437,199 Agriculture Pass $ 1,236 $ 4,736 $ 1,353 $ 1,624 $ 834 $ 2,358 $ 237,831 $ 249,972 Special mention - - - - - 98 1,379 1,477 Substandard - - - 15 5 - - 20 Doubtful - - - - - - - - Total Agriculture $ 1,236 $ 4,736 $ 1,353 $ 1,639 $ 839 $ 2,456 $ 239,210 $ 251,469 Commercial leases Pass $ 3,635 $ 14,816 $ 14,904 $ 9,041 $ 22,133 $ 27,243 $ - $ 91,772 Special mention - - - 135 - - - 135 Substandard - - - - - - - - Doubtful - - - - - - - - Total commercial leases $ 3,635 $ 14,816 $ 14,904 $ 9,176 $ 22,133 $ 27,243 $ - $ 91,907 Consumer and other Pass $ 612 $ 26,679 $ 967 $ 425 $ 656 $ 2,870 $ 872 $ 33,081 Special mention - - - - - - - - Substandard - - - - - 47 127 174 Doubtful - - - - - - - - Total consumer and other $ 612 $ 26,679 $ 967 $ 425 $ 656 $ 2,917 $ 999 $ 33,255 Total net loans and leases $ 68,597 $ 484,180 $ 352,749 $ 145,875 $ 198,462 $ 554,774 $ 1,432,982 $ 3,237,619 |
Amortized Cost of Collateral Dependent Loans by Class | The following tables provide amortized cost basis for collateral dependent loans as of March 31, 2022 and December 31, 2021, respectively: March 31, 2022 (Dollars in thousands) Real Estate Vehicles Total Collateral dependent loans and leases Real estate: Commercial $ 1 $ - $ 1 Agricultural 5,560 - 5,560 Residential and home equity 235 - 235 Construction - - - Total real estate 5,796 - 5,796 Commercial & Industrial - - - Agricultural - - - Commercial leases - - - Consumer and other - 169 169 Total gross loans and leases $ 5,796 $ 169 $ 5,965 December 31, 2021 (Dollars in thousands) Real Estate Vehicles Total Collateral dependent loans and leases Real estate: Commercial $ 5 $ - $ 5 Agricultural 5,587 - 5,587 Residential and home equity 330 - 330 Construction - - - Total real estate 5,922 - 5,922 Commercial & Industrial - - - Agricultural - - - Commercial leases - - - Consumer and other - 173 173 Total gross loans and leases $ 5,922 $ 173 $ 6,095 |
Changes in Allowance for Credit Losses | Changes in the allowance for credit losses are as follows: For the Three Months Ended March 31, 2022 (Dollars in thousands) Commercial & Agricultural Construction Residential & Home Equity Commercial & Agricultural Commercial Leases Consumer Total Allowance for credit losses: Balance at beginning of period, prior to adoption of ASC 326 $ 38,149 $ 1,456 $ 2,847 $ 16,954 $ 938 $ 663 $ 61,007 Impact of adopting ASC 326 (6,190 ) 1,855 3,032 826 629 (152 ) - Provision / (recapture) for credit losses 552 466 866 (1,700 ) (101 ) (83 ) - Charge-offs - - - - - (9 ) (9 ) Recoveries - - 14 18 - 2 34 Net (charge-offs) / recoveries - - 14 18 - (7 ) 25 Balance at end of period $ 32,511 $ 3,777 $ 6,759 $ 16,098 $ 1,466 $ 421 $ 61,032 For the Three Months Ended March 31, 2021 (Dollars in thousands) Commercial & Agricultural R/E Construction Residential & Home Equity Commercial & Agricultural Commercial Leases Consumer & Other Total Allowance for credit losses: Balance at beginning of period $ 36,312 $ 1,643 $ 2,984 $ 14,775 $ 1,731 $ 1,417 $ 58,862 Provision / (recapture) for credit losses 1,802 4 (135 ) (584 ) (57 ) 220 1,250 Charge-offs - - - - - (8 ) (8 ) Recoveries - - 32 32 - 7 71 Net (charge-offs) / recoveries - - 32 32 - (1 ) 63 Balance at end of period $ 38,114 $ 1,647 $ 2,881 $ 14,223 $ 1,674 $ 1,636 $ 60,175 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Deposits [Abstract] | |
Summary of Certificate of Deposits | Certificate of deposits greater than and less than or equal to the FDIC insurance limit are summarized as follows: (Dollars in thousands) March 31, 2022 December 31, 2021 Certificate of deposits: Certificates of deposits less than or equal to $250,000 221,904 223,620 Certificates of deposits greater than $250,000 168,876 168,865 Total certificates of deposits 390,780 392,485 |
Maturities for Certificates of Deposits | Scheduled maturities for certificates of deposit are as follows: (Dollars in thousands) Amount 2022 $ 291,366 2023 89,678 2024 5,633 2025 1,818 2026 2,285 Total time deposits $ 390,780 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Shareholders' Equity [Abstract] | |
Compliance with Regulatory Capital Requirements under Banking Regulations | The Company’s actual and required capital amounts and ratios are as follows: March 31, 2022 Actual Minimum Capital Requirement Well Capitalized Requirment (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Farmers & Merchants Bancorp CET1 capital to risk-weighted assets $ 463,607 11.63 % $ 179,354 4.50 % N/A N/A Tier 1 capital to risk-weighted assets 473,607 11.88 % 239,139 6.00 % N/A N/A Risk-based capital to risk-weighted assets 523,580 13.14 % 318,851 8.00 % N/A N/A Tier 1 leverage capital ratio 473,607 8.45 % 224,315 4.00 % N/A N/A Farmers & Merchants Bank CET1 capital to risk-weighted assets $ 472,965 11.87 % $ 179,339 4.50 % $ 259,046 6.50 % Tier 1 capital to risk-weighted assets 472,965 11.87 % 239,119 6.00 % 318,826 8.00 % Risk-based capital to risk-weighted assets 522,934 13.12 % 318,826 8.00 % 398,532 10.00 % Tier 1 leverage capital ratio 472,965 8.94 % 211,642 4.00 % 264,552 5.00 % December 31, 2021 Actual Minimum Capital Requirement Well Capitalized Requirment (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Farmers & Merchants Bancorp CET1 capital to risk-weighted assets $ 450,687 11.68 % $ 173,674 4.50 % N/A N/A Tier 1 capital to risk-weighted assets 460,687 11.94 % 231,566 6.00 % N/A N/A Risk-based capital to risk-weighted assets 509,091 13.19 % 308,755 8.00 % N/A N/A Tier 1 leverage capital ratio 460,687 8.92 % 206,606 4.00 % N/A N/A Farmers & Merchants Bank CET1 capital to risk-weighted assets $ 459,813 11.91 % $ 173,664 4.50 % $ 250,847 6.50 % Tier 1 capital to risk-weighted assets 459,813 11.91 % 231,551 6.00 % 308,735 8.00 % Risk-based capital to risk-weighted assets 508,215 13.17 % 308,735 8.00 % 385,919 10.00 % Tier 1 leverage capital ratio 459,813 8.91 % 206,426 4.00 % 258,033 5.00 % |
Earnings Per Common Share | Earnings per common share have been computed based on the following: Three Months Ended March 31, (Dollars in thousands, except share and per share amounts) 2022 2021 Numerator Net income $ 17,058 $ 16,713 Denominator Weighted average number of common shares outstanding 786,096 789,646 Weighted average number of dilutive shares outstanding 786,096 789,646 Basic earnings per common share $ 21.70 $ 21.17 Diluted earning per common share $ 21.70 $ 21.17 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Measurements [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables present information about the Company’s assets and liabilities at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated. March 31 2022 Fair Value (Dollars in thousands) Carrying Amount Level 1 Level 2 Level 3 Total Fair Value Financial Assets: Cash and cash equivalents $ 841,086 $ 841,086 $ - $ - $ 841,086 Investment securities available-for-sale 251,375 9,996 241,379 - 251,375 Investment securities held-to-maturity 876,257 - 771,971 43,732 815,703 Non-marketable securities 15,549 - - 15,549 15,549 Loans and leases, net 3,176,587 - - 3,184,796 3,184,796 Bank-owned life insurance 71,953 71,953 - - 71,953 Financial Liabilities: Total deposits 4,837,439 $ 4,446,659 $ - $ 387,625 $ 4,834,284 Subordinated debentures 10,310 - 9,766 - 9,766 December 31, 2021 Fair Value (Dollars in thousands) Carrying Amount Level 1 Level 2 Level 3 Total Fair Value Financial Assets: Cash and cash equivalents $ 715,460 $ 715,460 $ - $ - $ 715,460 Investment securities available-for-sale 270,454 10,214 260,240 - 270,454 Investment securities held-to-maturity 737,052 - 681,588 44,446 726,034 Non-marketable securities 15,549 - - 15,549 15,549 Loans and leases, net 3,176,170 - - 3,179,857 3,179,857 Bank-owned life insurance 71,411 71,411 - - 71,411 Financial Liabilities: Total deposits $ 4,640,152 $ 4,247,666 $ - $ 391,732 $ 4,639,398 Subordinated debentures 10,310 - 6,890 - 6,890 |
Assets Measured at Fair Value on a Recurring and Non-recurring Basis | The following tables present information about the Bank’s assets and liabilities measured at fair value on a recurring and non-recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Bank to determine such fair value for the periods indicated. March 31 2022 Fair Value Measurements (Dollars in thousands) Carrying Amount Level 1 Level 2 Level 3 Total Fair Value Fair valued on a recurring basis: Investment securities available-for-sale U.S. Treasury notes $ 9,996 $ 9,996 $ - $ - $ 9,996 U.S. Government-sponsored securities 5,789 - 5,789 - 5,789 Mortgage-backed securities 223,901 - 223,901 - 223,901 Collateralized mortgage obligations 1,544 - 1,544 - 1,544 Corporate securities 9,835 - 9,835 - 9,835 Other 310 - 310 - 310 Fair valued on a non-recurring basis: Other real estate 873 - - 873 873 December 31, 2021 Fair Value Measurements (Dollars in thousands) Carrying Amount Level 1 Level 2 Level 3 Total Fair Value Fair valued on a recurring basis: Investment securities available-for-sale U.S. Treasury notes $ 10,089 $ 10,089 $ - $ - $ 10,089 U.S. Government-sponsored securities 6,374 - 6,374 - 6,374 Mortgage-backed securities 251,120 - 251,120 - 251,120 Collateralized mortgage obligations 2,436 - 2,436 - 2,436 Other 435 125 310 - 435 Fair valued on a non-recurring basis: Individually evaluated loans $ 2,562 $ - $ - $ 2,562 $ 2,562 Other real estate 873 - - 873 873 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies [Abstract] | |
Off Balance Sheet Arrangements | The Company had the following off balance sheet commitments as of the dates indicated. (Dollars in thousands) March 31, 2022 December 31, 2021 Commitments to extend credit, including unsecured commitments of $ 20,907 21,036 $ 987,423 $ 937,009 Stand-by letters of credit, including unsecured commitments of $ 8,361 9,091 16,250 17,880 Performance guarantees under interest rate swap contracts entered into with our clients and third-parties 191 1,433 |
Basis of Presentation and Sig_4
Basis of Presentation and Significant Accounting Policies, Pre-tax Impact Adoption of ASU (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jan. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | $ (61,032) | $ (61,007) | $ (61,007) | $ (60,175) | $ (58,862) |
Real Estate [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (43,047) | (41,149) | (42,452) | ||
Commercial Real Estate [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (17,920) | (17,379) | (28,536) | ||
Agricultural [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (14,591) | (14,580) | (9,613) | ||
Residential and Home Equity [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (6,759) | (5,879) | (2,847) | (2,881) | (2,984) |
Construction [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (3,777) | (3,311) | (1,456) | (1,647) | (1,643) |
Commercial and Industrial [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (10,361) | (11,417) | (11,489) | ||
Agricultural [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (5,737) | (6,363) | (5,465) | ||
Commercial Leases [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (1,466) | (1,567) | (938) | (1,674) | (1,731) |
Consumer and Other [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | $ (421) | (511) | $ (663) | $ (1,636) | $ (1,417) |
Reported Pre-Adoption [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (61,007) | ||||
Reported Pre-Adoption [Member] | Real Estate [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (42,452) | ||||
Reported Pre-Adoption [Member] | Commercial Real Estate [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (28,536) | ||||
Reported Pre-Adoption [Member] | Agricultural [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (9,613) | ||||
Reported Pre-Adoption [Member] | Residential and Home Equity [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (2,847) | ||||
Reported Pre-Adoption [Member] | Construction [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (1,456) | ||||
Reported Pre-Adoption [Member] | Commercial and Industrial [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (11,489) | ||||
Reported Pre-Adoption [Member] | Agricultural [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (5,465) | ||||
Reported Pre-Adoption [Member] | Commercial Leases [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (938) | ||||
Reported Pre-Adoption [Member] | Consumer and Other [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (663) | ||||
Impact of ASC 326 Adoption [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | 0 | ||||
Impact of ASC 326 Adoption [Member] | Real Estate [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | 1,303 | ||||
Impact of ASC 326 Adoption [Member] | Commercial Real Estate [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | 11,157 | ||||
Impact of ASC 326 Adoption [Member] | Agricultural [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (4,967) | ||||
Impact of ASC 326 Adoption [Member] | Residential and Home Equity [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (3,032) | ||||
Impact of ASC 326 Adoption [Member] | Construction [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (1,855) | ||||
Impact of ASC 326 Adoption [Member] | Commercial and Industrial [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | 72 | ||||
Impact of ASC 326 Adoption [Member] | Agricultural [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (898) | ||||
Impact of ASC 326 Adoption [Member] | Commercial Leases [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | (629) | ||||
Impact of ASC 326 Adoption [Member] | Consumer and Other [Member] | |||||
Pre-tax Impact of Adoption of ASU [Abstract] | |||||
Allowance for credit losses | $ 152 |
Investment Securities, Securiti
Investment Securities, Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-for-sale [Abstract] | |||
Amortized cost | $ 269,221 | $ 272,436 | |
Gross unrealized gains | 465 | 3,437 | |
Gross unrealized losses | 18,311 | 5,419 | |
Fair value | 251,375 | 270,454 | |
U.S. Treasury Notes [Member] | |||
Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-for-sale [Abstract] | |||
Amortized cost | 9,955 | 9,938 | |
Gross unrealized gains | 41 | 151 | |
Gross unrealized losses | 0 | 0 | |
Fair value | 9,996 | 10,089 | |
U.S. Government-sponsored Securities [Member] | |||
Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-for-sale [Abstract] | |||
Amortized cost | 5,771 | 6,351 | |
Gross unrealized gains | 54 | 62 | |
Gross unrealized losses | 36 | 39 | |
Fair value | 5,789 | 6,374 | |
Mortgage-backed Securities [Member] | |||
Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-for-sale [Abstract] | |||
Amortized cost | [1] | 241,585 | 253,300 |
Gross unrealized gains | [1] | 370 | 3,200 |
Gross unrealized losses | [1] | 18,054 | 5,380 |
Fair value | [1] | 223,901 | 251,120 |
Collateralized Mortgage Obligations [Member] | |||
Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-for-sale [Abstract] | |||
Amortized cost | [1] | 1,549 | 2,412 |
Gross unrealized gains | [1] | 0 | 24 |
Gross unrealized losses | [1] | 5 | 0 |
Fair value | [1] | 1,544 | 2,436 |
Corporate Securities [Member] | |||
Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-for-sale [Abstract] | |||
Amortized cost | 10,051 | ||
Gross unrealized gains | 0 | ||
Gross unrealized losses | 216 | ||
Fair value | 9,835 | ||
Other [Member] | |||
Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-for-sale [Abstract] | |||
Amortized cost | 310 | 435 | |
Gross unrealized gains | 0 | 0 | |
Gross unrealized losses | 0 | 0 | |
Fair value | $ 310 | $ 435 | |
[1] | All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. |
Investment Securities, Securi_2
Investment Securities, Securities Held-to-Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity [Abstract] | |||
Amortized cost | $ 876,257 | $ 737,052 | |
Gross unrealized gains | 162 | 782 | |
Gross unrealized losses | 65,510 | 11,993 | |
Fair value | 810,909 | 725,841 | |
Municipal Securities [Member] | |||
Book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity [Abstract] | |||
Amortized cost | 63,581 | 66,496 | |
Gross unrealized gains | 162 | 701 | |
Gross unrealized losses | 65 | 0 | |
Fair value | 63,678 | 67,197 | |
Mortgage-backed Securities [Member] | |||
Book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity [Abstract] | |||
Amortized cost | [1] | 695,249 | 596,775 |
Gross unrealized gains | [1] | 0 | 45 |
Gross unrealized losses | [1] | 60,650 | 11,764 |
Fair value | [1] | 634,599 | 585,056 |
Collateralized Mortgage Obligations [Member] | |||
Book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity [Abstract] | |||
Amortized cost | [1] | 117,427 | 73,781 |
Gross unrealized gains | [1] | 0 | 36 |
Gross unrealized losses | [1] | 4,795 | 229 |
Fair value | [1] | $ 112,632 | $ 73,588 |
[1] | All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. |
Investment Securities, Securi_3
Investment Securities, Securities in Continuous Unrealized Loss Position (Details) | Mar. 31, 2022Security |
Investment Securities, Qualitative Disclosure [Abstract] | |
Number of investment securities held | 585 |
Less than 12 months, number of positions | 102 |
12 months or more, number of positions | 100 |
Investment Securities, Gross Un
Investment Securities, Gross Unrealized Losses for Available-for-Sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |||
Available-for-sale Securities, Continuous Unrealized Loss Positions [Abstract] | |||||
Less than 12 months, fair value | $ 93,105 | $ 61,652 | |||
12 months or more, fair value | 116,383 | 106,496 | |||
Fair value | 209,488 | 168,148 | |||
Less than 12 months, unrealized losses | 3,974 | 1,192 | |||
12 months or more, unrealized losses | 14,337 | 4,227 | |||
Unrealized losses | 18,311 | 5,419 | |||
U.S. Government-sponsored Securities [Member] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Positions [Abstract] | |||||
Less than 12 months, fair value | 15 | 183 | |||
12 months or more, fair value | 1,992 | 2,007 | |||
Fair value | 2,007 | 2,190 | |||
Less than 12 months, unrealized losses | 0 | 0 | |||
12 months or more, unrealized losses | 36 | 39 | |||
Unrealized losses | 36 | 39 | |||
Mortgage-backed Securities [Member] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Positions [Abstract] | |||||
Less than 12 months, fair value | 81,711 | [1] | 61,469 | [2] | |
12 months or more, fair value | 114,391 | [1] | 104,489 | [2] | |
Fair value | 196,102 | [1] | 165,958 | [2] | |
Less than 12 months, unrealized losses | 3,753 | [1] | 1,192 | [2] | |
12 months or more, unrealized losses | 14,301 | [1] | 4,188 | [2] | |
Unrealized losses | 18,054 | [1] | $ 5,380 | [2] | |
Collateralized Mortgage Obligations [Member] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Positions [Abstract] | |||||
Less than 12 months, fair value | [1] | 1,544 | |||
12 months or more, fair value | [1] | 0 | |||
Fair value | [1] | 1,544 | |||
Less than 12 months, unrealized losses | [1] | 5 | |||
12 months or more, unrealized losses | [1] | 0 | |||
Unrealized losses | [1] | 5 | |||
Corporate Securities [Member] | |||||
Available-for-sale Securities, Continuous Unrealized Loss Positions [Abstract] | |||||
Less than 12 months, fair value | 9,835 | ||||
12 months or more, fair value | 0 | ||||
Fair value | 9,835 | ||||
Less than 12 months, unrealized losses | 216 | ||||
12 months or more, unrealized losses | 0 | ||||
Unrealized losses | $ 216 | ||||
[1] | All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. | ||||
[2] | All mortgage-backed securitieswere issued by an agency or government sponsored entity of the U.S. Government. |
Investment Securities, Gross _2
Investment Securities, Gross Unrealized Losses for Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, fair value | $ 473,179 | $ 629,096 | |
12 months or more, fair value | 234,460 | 0 | |
Fair value | 707,639 | 629,096 | |
Less than 12 months, unrealized losses | 36,178 | 11,993 | |
12 months or more, unrealized losses | 29,332 | 0 | |
Unrealized losses | 65,510 | 11,993 | |
Municipal Securities [Member] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, fair value | 1,034 | ||
12 months or more, fair value | 0 | ||
Fair value | 1,034 | ||
Less than 12 months, unrealized losses | 65 | ||
12 months or more, unrealized losses | 0 | ||
Unrealized losses | 65 | ||
Mortgage-backed Securities [Member] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, fair value | [1] | 398,924 | 570,119 |
12 months or more, fair value | [1] | 234,460 | 0 |
Fair value | [1] | 633,384 | 570,119 |
Less than 12 months, unrealized losses | [1] | 31,318 | 11,764 |
12 months or more, unrealized losses | [1] | 29,332 | 0 |
Unrealized losses | [1] | 60,650 | 11,764 |
Collateralized Mortgage Obligations [Member] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, fair value | [1] | 73,221 | 58,977 |
12 months or more, fair value | [1] | 0 | 0 |
Fair value | [1] | 73,221 | 58,977 |
Less than 12 months, unrealized losses | [1] | 4,795 | 229 |
12 months or more, unrealized losses | [1] | 0 | 0 |
Unrealized losses | [1] | $ 4,795 | $ 229 |
[1] | All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. |
Investment Securities, Contract
Investment Securities, Contractual Maturity (Details) $ in Thousands | Mar. 31, 2022USD ($) |
Amortized Cost [Abstract] | |
One year or less | $ 10,268 |
After one year through five years | 5,160 |
After five years through ten years | 5,455 |
After ten years | 5,204 |
Amortized cost, excluding securities without single maturity date | 26,087 |
Securities not due at a single maturity date | 269,221 |
Fair Value [Abstract] | |
One year or less | 10,310 |
After one year through five years | 5,073 |
After five years through ten years | 5,326 |
After ten years | 5,221 |
Fair value, excluding investment securities not due at a single maturity date | 25,930 |
Securities not due at a single maturity date | 251,375 |
Amortized Cost [Abstract] | |
One year or less | 908 |
After one year through five years | 7,118 |
After five years through ten years | 16,690 |
After ten years | 38,865 |
Fair value, excluding securities without single maturity date | 63,581 |
Securities not due at a single maturity date | 876,257 |
Fair Value [Abstract] | |
One year or less | 908 |
After one year through five years | 7,113 |
After five years through ten years | 16,846 |
After ten years | 38,811 |
Fair value, excluding investment securities without single maturity date | 63,678 |
Securities not due at a single maturity date | 810,909 |
Mortgage-backed Securities [Member] | |
Amortized Cost [Abstract] | |
Securities not due at a single maturity date | 241,585 |
Fair Value [Abstract] | |
Securities not due at a single maturity date | 223,901 |
Amortized Cost [Abstract] | |
Securities not due at a single maturity date | 695,249 |
Fair Value [Abstract] | |
Securities not due at a single maturity date | 634,599 |
Collateralized Mortgage Obligations [Member] | |
Amortized Cost [Abstract] | |
Securities not due at a single maturity date | 1,549 |
Fair Value [Abstract] | |
Securities not due at a single maturity date | 1,544 |
Amortized Cost [Abstract] | |
Securities not due at a single maturity date | 117,427 |
Fair Value [Abstract] | |
Securities not due at a single maturity date | $ 112,632 |
Investment Securities, Proceeds
Investment Securities, Proceeds from Sales and Calls of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Proceeds from Sales and Calls of Securities [Abstract] | ||
Gross proceeds | $ 2,190 | $ 63,788 |
Gross gains | 0 | 1,840 |
Gross losses | $ 0 | $ 0 |
Investment Securities, Debt Sec
Investment Securities, Debt Securities by Credit Rating (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Available-for-sale [Abstract] | |||
Fair value | $ 251,375 | $ 270,454 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | 876,257 | 737,052 | |
AAA/AA/A Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 9,835 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 19,715 | ||
BBB/BB/B Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 134 | ||
Not Rated [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 241,540 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 856,408 | ||
U.S. Treasury Notes [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 9,996 | 10,089 | |
U.S. Treasury Notes [Member] | AAA/AA/A Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [1] | 0 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | [1] | 0 | |
U.S. Treasury Notes [Member] | BBB/BB/B Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [1] | 0 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | [1] | 0 | |
U.S. Treasury Notes [Member] | Not Rated [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [1] | 9,996 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | [1] | 0 | |
U.S. Government-sponsored Securities [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 5,789 | 6,374 | |
U.S. Government-sponsored Securities [Member] | AAA/AA/A Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 0 | ||
U.S. Government-sponsored Securities [Member] | BBB/BB/B Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 0 | ||
U.S. Government-sponsored Securities [Member] | Not Rated [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 5,789 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 0 | ||
Mortgage-backed Securities [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [2] | 223,901 | 251,120 |
Held-to-Maturity [Abstract] | |||
Amortized cost | [3] | 695,249 | 596,775 |
Mortgage-backed Securities [Member] | AAA/AA/A Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [1] | 0 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | [1] | 0 | |
Mortgage-backed Securities [Member] | BBB/BB/B Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [1] | 0 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | [1] | 0 | |
Mortgage-backed Securities [Member] | Not Rated [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [1] | 223,901 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | [1] | 695,249 | |
Collateralized Mortgage Obligations [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [2] | 1,544 | 2,436 |
Held-to-Maturity [Abstract] | |||
Amortized cost | [3] | 117,427 | 73,781 |
Collateralized Mortgage Obligations [Member] | AAA/AA/A Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [1] | 0 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | [1] | 0 | |
Collateralized Mortgage Obligations [Member] | BBB/BB/B Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [1] | 0 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | [1] | 0 | |
Collateralized Mortgage Obligations [Member] | Not Rated [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | [1] | 1,544 | |
Held-to-Maturity [Abstract] | |||
Amortized cost | [1] | 117,427 | |
Obligations of States and Political Subdivisions [Member] | AAA/AA/A Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 19,715 | ||
Obligations of States and Political Subdivisions [Member] | BBB/BB/B Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 134 | ||
Obligations of States and Political Subdivisions [Member] | Not Rated [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 43,732 | ||
Corporate Securities [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 9,835 | ||
Corporate Securities [Member] | AAA/AA/A Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 9,835 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 0 | ||
Corporate Securities [Member] | BBB/BB/B Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 0 | ||
Corporate Securities [Member] | Not Rated [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 0 | ||
Other [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 310 | $ 435 | |
Other [Member] | AAA/AA/A Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 0 | ||
Other [Member] | BBB/BB/B Rating [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 0 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | 0 | ||
Other [Member] | Not Rated [Member] | |||
Available-for-sale [Abstract] | |||
Fair value | 310 | ||
Held-to-Maturity [Abstract] | |||
Amortized cost | $ 0 | ||
[1] | All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. All U.S. Treasury notes are backed by the “full faith and credit” of the U.S. Government. | ||
[2] | All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. | ||
[3] | All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. |
Investment Securities, Pledged
Investment Securities, Pledged Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Pledged Securities [Abstract] | ||
Carrying amount of securities | $ 1,127,632 | $ 1,007,506 |
Asset Pledged as Collateral [Member] | Public Deposits, Federal Home Loan Bank ("FHLB") Borrowings, and Other Government Agency Deposits [Member] | ||
Pledged Securities [Abstract] | ||
Carrying amount of securities | $ 490,000 | $ 426,000 |
Loans and Leases, Components of
Loans and Leases, Components of Loans and Leases (Details) $ in Thousands | 3 Months Ended | |||||
Mar. 31, 2022USD ($)Loan | Jan. 31, 2022USD ($) | Dec. 31, 2021USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | ||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | $ 3,246,745 | $ 3,247,911 | ||||
Unearned income | (9,126) | (10,734) | ||||
Total net loans and leases | 3,237,619 | 3,237,177 | ||||
Allowance for credit losses | (61,032) | $ (61,007) | (61,007) | $ (60,175) | $ (58,862) | |
Loans held for investment, net | 3,176,587 | 3,176,170 | ||||
Federal Home Loan Bank [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Collateral on borrowing lines | 1,200,000 | |||||
Maximum borrowing capacity | 812,500 | |||||
Federal Reserve Bank [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Collateral on borrowing lines | 860,000 | |||||
Maximum borrowing capacity | 664,000 | |||||
Paycheck Protection Program [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | 26,100 | 70,800 | ||||
Loans funded for the small business customers | $ 494,390 | |||||
Number of small business customers | Loan | 2,680 | |||||
Real Estate [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | $ 2,432,377 | 2,368,090 | ||||
Total net loans and leases | 2,423,789 | 2,357,912 | ||||
Allowance for credit losses | (43,047) | (41,149) | (42,452) | |||
Commercial [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | 1,172,804 | 1,167,516 | ||||
Total net loans and leases | 1,164,216 | 1,157,338 | ||||
Allowance for credit losses | (17,920) | (17,379) | (28,536) | |||
Agricultural [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | 695,565 | 672,830 | ||||
Total net loans and leases | 695,565 | 672,830 | ||||
Allowance for credit losses | (14,591) | (14,580) | (9,613) | |||
Residential and Home Equity [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | 359,214 | 350,581 | ||||
Total net loans and leases | 359,214 | 350,581 | ||||
Allowance for credit losses | (6,759) | (5,879) | (2,847) | (2,881) | (2,984) | |
Construction [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | 204,794 | 177,163 | ||||
Total net loans and leases | 204,794 | 177,163 | ||||
Allowance for credit losses | (3,777) | (3,311) | (1,456) | (1,647) | (1,643) | |
Commercial and Industrial [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | 437,199 | 427,799 | ||||
Total net loans and leases | 437,199 | 427,799 | ||||
Allowance for credit losses | (10,361) | (11,417) | (11,489) | |||
Agricultural [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | [1] | 251,469 | 276,684 | |||
Total net loans and leases | 251,469 | 276,684 | ||||
Allowance for credit losses | (5,737) | (6,363) | (5,465) | |||
Commercial Leases [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | 92,445 | 96,971 | ||||
Total net loans and leases | 91,907 | 96,415 | ||||
Allowance for credit losses | (1,466) | (1,567) | (938) | (1,674) | (1,731) | |
Consumer and Other [Member] | ||||||
Loan & Lease Portfolio [Abstract] | ||||||
Total gross Loans and leases | [2] | 33,255 | 78,367 | |||
Total net loans and leases | 33,255 | 78,367 | ||||
Allowance for credit losses | $ (421) | $ (511) | $ (663) | $ (1,636) | $ (1,417) | |
[1] | The reduction in Agricultural loans is the result of the seasonal cycle, with the first quarter being outside the growing period. | |||||
[2] | Includes SBA PPP loans. |
Loans and Leases, Aging Analysi
Loans and Leases, Aging Analysis of Loan & Lease Portfolio Including Unearned Income (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | $ 0 | $ 0 |
Nonaccrual | 437 | 516 |
Total loans and leases, net | 3,237,619 | 3,237,177 |
Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 2,900 | 1,068 |
30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 2,463 | 552 |
Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 3,234,719 | 3,236,109 |
Real Estate [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | 0 | 0 |
Nonaccrual | 437 | 18 |
Total loans and leases, net | 2,423,789 | 2,357,912 |
Real Estate [Member] | Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 2,053 | 566 |
Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 1,616 | 548 |
Real Estate [Member] | Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 2,421,736 | 2,357,346 |
Commercial [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | 0 | 0 |
Nonaccrual | 437 | 0 |
Total loans and leases, net | 1,164,216 | 1,157,338 |
Commercial [Member] | Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 1,688 | 459 |
Commercial [Member] | 30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 1,251 | 459 |
Commercial [Member] | Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 1,162,528 | 1,156,879 |
Agricultural [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | 0 | 0 |
Nonaccrual | 0 | 18 |
Total loans and leases, net | 695,565 | 672,830 |
Agricultural [Member] | Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 0 | 18 |
Agricultural [Member] | 30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 0 | 0 |
Agricultural [Member] | Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 695,565 | 672,812 |
Residential and Home Equity [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total loans and leases, net | 359,214 | 350,581 |
Residential and Home Equity [Member] | Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 365 | 89 |
Residential and Home Equity [Member] | 30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 365 | 89 |
Residential and Home Equity [Member] | Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 358,849 | 350,492 |
Construction [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total loans and leases, net | 204,794 | 177,163 |
Construction [Member] | Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 0 | 0 |
Construction [Member] | 30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 0 | 0 |
Construction [Member] | Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 204,794 | 177,163 |
Commercial and Industrial [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total loans and leases, net | 437,199 | 427,799 |
Commercial and Industrial [Member] | Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 0 | 0 |
Commercial and Industrial [Member] | 30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 0 | 0 |
Commercial and Industrial [Member] | Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 437,199 | 427,799 |
Agricultural [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | 0 | 0 |
Nonaccrual | 0 | 498 |
Total loans and leases, net | 251,469 | 276,684 |
Agricultural [Member] | Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 800 | 498 |
Agricultural [Member] | 30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 800 | 0 |
Agricultural [Member] | Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 250,669 | 276,186 |
Commercial Leases [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total loans and leases, net | 91,907 | 96,415 |
Commercial Leases [Member] | Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 0 | 0 |
Commercial Leases [Member] | 30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 0 | 0 |
Commercial Leases [Member] | Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 91,907 | 96,415 |
Consumer and Other [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
90+ Days Past Due | 0 | 0 |
Nonaccrual | 0 | 0 |
Total loans and leases, net | 33,255 | 78,367 |
Consumer and Other [Member] | Total Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 47 | 4 |
Consumer and Other [Member] | 30-89 Days Past Due [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | 47 | 4 |
Consumer and Other [Member] | Current [Member] | ||
Aging Analysis of Loan & Lease Portfolio by Time Past Due [Abstract] | ||
Total loans and leases, net | $ 33,208 | $ 78,363 |
Loans and Leases, Non-accrual L
Loans and Leases, Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | $ 437 | $ 516 |
Real Estate [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 437 | 18 |
Commercial [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 437 | 0 |
Agricultural [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 18 |
Residential and Home Equity [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Construction [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Commercial and Industrial [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Agricultural [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 498 |
Commercial Leases [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Consumer and Other [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual not TDRs [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 437 | 18 |
Nonaccrual not TDRs [Member] | Real Estate [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 437 | 18 |
Nonaccrual not TDRs [Member] | Commercial [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 437 | 0 |
Nonaccrual not TDRs [Member] | Agricultural [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 18 |
Nonaccrual not TDRs [Member] | Residential and Home Equity [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual not TDRs [Member] | Construction [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual not TDRs [Member] | Commercial and Industrial [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual not TDRs [Member] | Agricultural [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual not TDRs [Member] | Commercial Leases [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual not TDRs [Member] | Consumer and Other [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual TDRs [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 498 |
Nonaccrual TDRs [Member] | Real Estate [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual TDRs [Member] | Commercial [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual TDRs [Member] | Agricultural [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual TDRs [Member] | Residential and Home Equity [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual TDRs [Member] | Construction [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual TDRs [Member] | Commercial and Industrial [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual TDRs [Member] | Agricultural [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 498 |
Nonaccrual TDRs [Member] | Commercial Leases [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | 0 | 0 |
Nonaccrual TDRs [Member] | Consumer and Other [Member] | ||
Non-accrual Loans and Leases [Abstract] | ||
Non-accrual loans and leases | $ 0 | $ 0 |
Loans and Leases, Troubled Debt
Loans and Leases, Troubled Debt Restructured Loans (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022USD ($)Contract | Mar. 31, 2021Contract | Dec. 31, 2021USD ($) | |
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | $ 1,603 | $ 2,322 | |
Number of TDRs during period | Contract | 0 | 0 | |
Accrual TDRs [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | $ 1,603 | 1,824 | |
Accrual TDRs [Member] | Real Estate [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 1,347 | 1,563 | |
Accrual TDRs [Member] | Commercial [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 41 | |
Accrual TDRs [Member] | Agricultural [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Accrual TDRs [Member] | Residential and Home Equity [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 1,347 | 1,522 | |
Accrual TDRs [Member] | Construction [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Accrual TDRs [Member] | Commercial and Industrial [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 255 | 260 | |
Accrual TDRs [Member] | Agricultural [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Accrual TDRs [Member] | Commercial Leases [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Accrual TDRs [Member] | Consumer and Other [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 1 | 1 | |
Nonaccrual TDRs [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 498 | |
Nonaccrual TDRs [Member] | Real Estate [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Nonaccrual TDRs [Member] | Commercial [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Nonaccrual TDRs [Member] | Agricultural [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Nonaccrual TDRs [Member] | Residential and Home Equity [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Nonaccrual TDRs [Member] | Construction [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Nonaccrual TDRs [Member] | Commercial and Industrial [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Nonaccrual TDRs [Member] | Agricultural [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 498 | |
Nonaccrual TDRs [Member] | Commercial Leases [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | 0 | 0 | |
Nonaccrual TDRs [Member] | Consumer and Other [Member] | |||
Troubled Debt Restructuring Loans [Abstract] | |||
TDR loans and leases | $ 0 | $ 0 |
Loans and Leases, TDRs Outstand
Loans and Leases, TDRs Outstanding by Year of Occurrence (Details) $ in Thousands | Mar. 31, 2022USD ($)Contract | Dec. 31, 2021USD ($) |
# of TDRs [Abstract] | ||
2022 | Contract | 0 | |
2021 | Contract | 1 | |
2020 | Contract | 5 | |
2019 | Contract | 0 | |
Thereafter | Contract | 9 | |
Total | Contract | 15 | |
$ of TDRs [Abstract] | ||
2022 | $ | $ 0 | |
2021 | $ | 48 | |
2020 | $ | 468 | |
2019 | $ | 0 | |
Thereafter | $ | 1,087 | |
Total | $ | $ 1,603 | $ 2,322 |
Accruing TDRs [Member] | ||
# of TDRs [Abstract] | ||
2022 | Contract | 0 | |
2021 | Contract | 1 | |
2020 | Contract | 5 | |
2019 | Contract | 0 | |
Thereafter | Contract | 9 | |
Total | Contract | 15 | |
$ of TDRs [Abstract] | ||
2022 | $ | $ 0 | |
2021 | $ | 48 | |
2020 | $ | 468 | |
2019 | $ | 0 | |
Thereafter | $ | 1,087 | |
Total | $ | $ 1,603 | 1,824 |
Non-accruing TDRs [Member] | ||
# of TDRs [Abstract] | ||
2022 | Contract | 0 | |
2021 | Contract | 0 | |
2020 | Contract | 0 | |
2019 | Contract | 0 | |
Thereafter | Contract | 0 | |
Total | Contract | 0 | |
$ of TDRs [Abstract] | ||
2022 | $ | $ 0 | |
2021 | $ | 0 | |
2020 | $ | 0 | |
2019 | $ | 0 | |
Thereafter | $ | 0 | |
Total | $ | $ 0 | $ 498 |
Loans and Leases, Outstanding L
Loans and Leases, Outstanding Loan Balances Categorized by Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jan. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | $ 3,237,619 | $ 3,237,177 | |||
Allowance for credit losses | 61,032 | $ 61,007 | 61,007 | $ 60,175 | $ 58,862 |
Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 3,202,574 | 3,200,251 | |||
Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 23,923 | 20,474 | |||
Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 11,122 | 16,452 | |||
Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Real Estate [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 2,423,789 | 2,357,912 | |||
Allowance for credit losses | 43,047 | 41,149 | 42,452 | ||
Real Estate [Member] | Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 2,400,640 | 2,332,643 | |||
Real Estate [Member] | Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 12,874 | 10,195 | |||
Real Estate [Member] | Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 10,275 | 15,074 | |||
Real Estate [Member] | Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Commercial [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 1,164,216 | 1,157,338 | |||
Allowance for credit losses | 17,920 | 17,379 | 28,536 | ||
Commercial [Member] | Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 1,153,584 | 1,142,175 | |||
Commercial [Member] | Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 6,878 | 6,903 | |||
Commercial [Member] | Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 3,754 | 8,260 | |||
Commercial [Member] | Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Agricultural [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 695,565 | 672,830 | |||
Allowance for credit losses | 14,591 | 14,580 | 9,613 | ||
Agricultural [Member] | Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 683,415 | 663,157 | |||
Agricultural [Member] | Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 5,996 | 3,292 | |||
Agricultural [Member] | Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 6,154 | 6,381 | |||
Agricultural [Member] | Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Residential and Home Equity [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 359,214 | 350,581 | |||
Allowance for credit losses | 6,759 | 5,879 | 2,847 | 2,881 | 2,984 |
Residential and Home Equity [Member] | Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 358,847 | 350,148 | |||
Residential and Home Equity [Member] | Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Residential and Home Equity [Member] | Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 367 | 433 | |||
Residential and Home Equity [Member] | Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Construction [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 204,794 | 177,163 | |||
Allowance for credit losses | 3,777 | 3,311 | 1,456 | 1,647 | 1,643 |
Construction [Member] | Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 204,794 | 177,163 | |||
Construction [Member] | Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Construction [Member] | Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Construction [Member] | Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Commercial and Industrial [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 437,199 | 427,799 | |||
Allowance for credit losses | 10,361 | 11,417 | 11,489 | ||
Commercial and Industrial [Member] | Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 427,109 | 417,806 | |||
Commercial and Industrial [Member] | Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 9,437 | 9,321 | |||
Commercial and Industrial [Member] | Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 653 | 672 | |||
Commercial and Industrial [Member] | Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Agricultural [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 251,469 | 276,684 | |||
Allowance for credit losses | 5,737 | 6,363 | 5,465 | ||
Agricultural [Member] | Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 249,972 | 275,206 | |||
Agricultural [Member] | Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 1,477 | 958 | |||
Agricultural [Member] | Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 20 | 520 | |||
Agricultural [Member] | Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Commercial Leases [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 91,907 | 96,415 | |||
Allowance for credit losses | 1,466 | 1,567 | 938 | 1,674 | 1,731 |
Commercial Leases [Member] | Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 91,772 | 96,415 | |||
Commercial Leases [Member] | Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 135 | 0 | |||
Commercial Leases [Member] | Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Commercial Leases [Member] | Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Consumer and Other [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 33,255 | 78,367 | |||
Allowance for credit losses | 421 | $ 511 | 663 | $ 1,636 | $ 1,417 |
Consumer and Other [Member] | Pass [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 33,081 | 78,181 | |||
Consumer and Other [Member] | Special Mention [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 0 | 0 | |||
Consumer and Other [Member] | Substandard [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | 174 | 186 | |||
Consumer and Other [Member] | Doubtful [Member] | |||||
Loan & Lease Portfolio Allocated by Management's Internal Risk Ratings [Abstract] | |||||
Gross loans and leases | $ 0 | $ 0 |
Loans and Leases, Outstanding_2
Loans and Leases, Outstanding Loan Balances Categorized by Credit Quality Indicators and Vintage Year by Class of Financing Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | $ 68,597 | |
2021 | 484,180 | |
2020 | 352,749 | |
2019 | 145,875 | |
2018 | 198,462 | |
Prior | 554,774 | |
Revolving loans amortized cost | 1,432,982 | |
Total net loans and leases | 3,237,619 | $ 3,237,177 |
Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
Total net loans and leases | 3,202,574 | 3,200,251 |
Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
Total net loans and leases | 23,923 | 20,474 |
Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
Total net loans and leases | 11,122 | 16,452 |
Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
Total net loans and leases | 0 | 0 |
Real Estate [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 58,746 | |
2021 | 392,234 | |
2020 | 318,734 | |
2019 | 119,625 | |
2018 | 163,281 | |
Prior | 512,140 | |
Revolving loans amortized cost | 859,029 | |
Total net loans and leases | 2,423,789 | 2,357,912 |
Real Estate [Member] | Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
Total net loans and leases | 2,400,640 | 2,332,643 |
Real Estate [Member] | Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
Total net loans and leases | 12,874 | 10,195 |
Real Estate [Member] | Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
Total net loans and leases | 10,275 | 15,074 |
Real Estate [Member] | Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
Total net loans and leases | 0 | 0 |
Commercial [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 25,293 | |
2021 | 247,149 | |
2020 | 164,009 | |
2019 | 82,890 | |
2018 | 98,927 | |
Prior | 258,210 | |
Revolving loans amortized cost | 287,738 | |
Total net loans and leases | 1,164,216 | 1,157,338 |
Commercial [Member] | Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 25,293 | |
2021 | 247,149 | |
2020 | 164,009 | |
2019 | 82,890 | |
2018 | 95,039 | |
Prior | 254,266 | |
Revolving loans amortized cost | 284,938 | |
Total net loans and leases | 1,153,584 | 1,142,175 |
Commercial [Member] | Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 3,888 | |
Prior | 840 | |
Revolving loans amortized cost | 2,150 | |
Total net loans and leases | 6,878 | 6,903 |
Commercial [Member] | Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 3,104 | |
Revolving loans amortized cost | 650 | |
Total net loans and leases | 3,754 | 8,260 |
Commercial [Member] | Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Agricultural [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 12,121 | |
2021 | 43,482 | |
2020 | 60,883 | |
2019 | 18,029 | |
2018 | 56,635 | |
Prior | 165,422 | |
Revolving loans amortized cost | 338,993 | |
Total net loans and leases | 695,565 | 672,830 |
Agricultural [Member] | Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 12,121 | |
2021 | 43,482 | |
2020 | 58,501 | |
2019 | 15,393 | |
2018 | 56,374 | |
Prior | 159,386 | |
Revolving loans amortized cost | 338,158 | |
Total net loans and leases | 683,415 | 663,157 |
Agricultural [Member] | Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 2,382 | |
2019 | 2,636 | |
2018 | 143 | |
Prior | 0 | |
Revolving loans amortized cost | 835 | |
Total net loans and leases | 5,996 | 3,292 |
Agricultural [Member] | Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 118 | |
Prior | 6,036 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 6,154 | 6,381 |
Agricultural [Member] | Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Residential and Home Equity [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 21,332 | |
2021 | 101,603 | |
2020 | 93,842 | |
2019 | 16,431 | |
2018 | 7,719 | |
Prior | 88,386 | |
Revolving loans amortized cost | 29,901 | |
Total net loans and leases | 359,214 | 350,581 |
Residential and Home Equity [Member] | Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 21,332 | |
2021 | 101,603 | |
2020 | 93,842 | |
2019 | 16,431 | |
2018 | 7,719 | |
Prior | 88,166 | |
Revolving loans amortized cost | 29,754 | |
Total net loans and leases | 358,847 | 350,148 |
Residential and Home Equity [Member] | Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Residential and Home Equity [Member] | Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 220 | |
Revolving loans amortized cost | 147 | |
Total net loans and leases | 367 | 433 |
Residential and Home Equity [Member] | Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Construction [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 2,275 | |
2018 | 0 | |
Prior | 122 | |
Revolving loans amortized cost | 202,397 | |
Total net loans and leases | 204,794 | 177,163 |
Construction [Member] | Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 2,275 | |
2018 | 0 | |
Prior | 122 | |
Revolving loans amortized cost | 202,397 | |
Total net loans and leases | 204,794 | 177,163 |
Construction [Member] | Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Construction [Member] | Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Construction [Member] | Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Commercial and Industrial [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 4,368 | |
2021 | 45,715 | |
2020 | 16,791 | |
2019 | 15,010 | |
2018 | 11,553 | |
Prior | 10,018 | |
Revolving loans amortized cost | 333,744 | |
Total net loans and leases | 437,199 | 427,799 |
Commercial and Industrial [Member] | Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 4,368 | |
2021 | 45,633 | |
2020 | 16,791 | |
2019 | 15,010 | |
2018 | 11,515 | |
Prior | 9,983 | |
Revolving loans amortized cost | 323,809 | |
Total net loans and leases | 427,109 | 417,806 |
Commercial and Industrial [Member] | Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 82 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 4 | |
Revolving loans amortized cost | 9,351 | |
Total net loans and leases | 9,437 | 9,321 |
Commercial and Industrial [Member] | Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 38 | |
Prior | 31 | |
Revolving loans amortized cost | 584 | |
Total net loans and leases | 653 | 672 |
Commercial and Industrial [Member] | Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Agricultural [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 1,236 | |
2021 | 4,736 | |
2020 | 1,353 | |
2019 | 1,639 | |
2018 | 839 | |
Prior | 2,456 | |
Revolving loans amortized cost | 239,210 | |
Total net loans and leases | 251,469 | 276,684 |
Agricultural [Member] | Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 1,236 | |
2021 | 4,736 | |
2020 | 1,353 | |
2019 | 1,624 | |
2018 | 834 | |
Prior | 2,358 | |
Revolving loans amortized cost | 237,831 | |
Total net loans and leases | 249,972 | 275,206 |
Agricultural [Member] | Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 98 | |
Revolving loans amortized cost | 1,379 | |
Total net loans and leases | 1,477 | 958 |
Agricultural [Member] | Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 15 | |
2018 | 5 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 20 | 520 |
Agricultural [Member] | Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Commercial Leases [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 3,635 | |
2021 | 14,816 | |
2020 | 14,904 | |
2019 | 9,176 | |
2018 | 22,133 | |
Prior | 27,243 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 91,907 | 96,415 |
Commercial Leases [Member] | Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 3,635 | |
2021 | 14,816 | |
2020 | 14,904 | |
2019 | 9,041 | |
2018 | 22,133 | |
Prior | 27,243 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 91,772 | 96,415 |
Commercial Leases [Member] | Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 135 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 135 | 0 |
Commercial Leases [Member] | Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Commercial Leases [Member] | Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Consumer and Other [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 612 | |
2021 | 26,679 | |
2020 | 967 | |
2019 | 425 | |
2018 | 656 | |
Prior | 2,917 | |
Revolving loans amortized cost | 999 | |
Total net loans and leases | 33,255 | 78,367 |
Consumer and Other [Member] | Pass [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 612 | |
2021 | 26,679 | |
2020 | 967 | |
2019 | 425 | |
2018 | 656 | |
Prior | 2,870 | |
Revolving loans amortized cost | 872 | |
Total net loans and leases | 33,081 | 78,181 |
Consumer and Other [Member] | Special Mention [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | 0 | 0 |
Consumer and Other [Member] | Substandard [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 47 | |
Revolving loans amortized cost | 127 | |
Total net loans and leases | 174 | 186 |
Consumer and Other [Member] | Doubtful [Member] | ||
Outstanding Loan Balances by Credit Quality Indicators and Vintage Year [Abstract] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans amortized cost | 0 | |
Total net loans and leases | $ 0 | $ 0 |
Loans and Leases, Collateral De
Loans and Leases, Collateral Dependent Loans and Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | $ 5,965 | $ 6,095 |
Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 5,796 | 5,922 |
Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 169 | 173 |
Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 5,796 | 5,922 |
Real Estate [Member] | Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 5,796 | 5,922 |
Real Estate [Member] | Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Commercial [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 1 | 5 |
Commercial [Member] | Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 1 | 5 |
Commercial [Member] | Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Agricultural [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 5,560 | 5,587 |
Agricultural [Member] | Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 5,560 | 5,587 |
Agricultural [Member] | Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Residential and Home Equity [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 235 | 330 |
Residential and Home Equity [Member] | Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 235 | 330 |
Residential and Home Equity [Member] | Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Construction [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Construction [Member] | Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Construction [Member] | Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Commercial and Industrial [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Commercial and Industrial [Member] | Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Commercial and Industrial [Member] | Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Agricultural [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Agricultural [Member] | Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Agricultural [Member] | Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Commercial Leases [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Commercial Leases [Member] | Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Commercial Leases [Member] | Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Consumer and Other [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 169 | 173 |
Consumer and Other [Member] | Real Estate [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | 0 | 0 |
Consumer and Other [Member] | Vehicles [Member] | ||
Loans and Leases [Abstract] | ||
Collateral dependent loans and leases, amortized cost | $ 169 | $ 173 |
Loans and Leases, Changes in Al
Loans and Leases, Changes in Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | $ 61,007 | $ 58,862 |
Provision / (recapture) for credit losses | 0 | 1,250 |
Charge-offs | (9) | (8) |
Recoveries | 34 | 71 |
Net (charge-offs) / recoveries | 25 | 63 |
Balance at end of period | 61,032 | 60,175 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASC 326 [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 0 | |
Commercial & Agricultural R/E [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 38,149 | 36,312 |
Provision / (recapture) for credit losses | 552 | 1,802 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Net (charge-offs) / recoveries | 0 | 0 |
Balance at end of period | 32,511 | 38,114 |
Commercial & Agricultural R/E [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ASC 326 [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | (6,190) | |
Construction [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 1,456 | 1,643 |
Provision / (recapture) for credit losses | 466 | 4 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Net (charge-offs) / recoveries | 0 | 0 |
Balance at end of period | 3,777 | 1,647 |
Construction [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ASC 326 [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 1,855 | |
Residential & Home Equity [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 2,847 | 2,984 |
Provision / (recapture) for credit losses | 866 | (135) |
Charge-offs | 0 | 0 |
Recoveries | 14 | 32 |
Net (charge-offs) / recoveries | 14 | 32 |
Balance at end of period | 6,759 | 2,881 |
Residential & Home Equity [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ASC 326 [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 3,032 | |
Commercial & Agricultural [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 16,954 | 14,775 |
Provision / (recapture) for credit losses | (1,700) | (584) |
Charge-offs | 0 | 0 |
Recoveries | 18 | 32 |
Net (charge-offs) / recoveries | 18 | 32 |
Balance at end of period | 16,098 | 14,223 |
Commercial & Agricultural [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ASC 326 [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 826 | |
Commercial Leases [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 938 | 1,731 |
Provision / (recapture) for credit losses | (101) | (57) |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Net (charge-offs) / recoveries | 0 | 0 |
Balance at end of period | 1,466 | 1,674 |
Commercial Leases [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ASC 326 [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 629 | |
Consumer and Other [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 663 | 1,417 |
Provision / (recapture) for credit losses | (83) | 220 |
Charge-offs | (9) | (8) |
Recoveries | 2 | 7 |
Net (charge-offs) / recoveries | (7) | (1) |
Balance at end of period | 421 | $ 1,636 |
Consumer and Other [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ASC 326 [Member] | ||
Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | $ (152) |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Certification of deposits [Abstract] | ||
Certificates of deposits less than or equal to $250,000 | $ 221,904 | $ 223,620 |
Certificates of deposits greater than $250,000 | 168,876 | 168,865 |
Total certificates of deposits | 390,780 | 392,485 |
Maturities for Certificates of Deposits [Abstract] | ||
2022 | 291,366 | |
2023 | 89,678 | |
2024 | 5,633 | |
2025 | 1,818 | |
2026 and beyond | 2,285 | |
Total certificates of deposits | $ 390,780 | $ 392,485 |
Shareholders' Equity, Complianc
Shareholders' Equity, Compliance with Regulatory Capital Requirements (Details) $ in Thousands | Mar. 31, 2022USD ($) | Dec. 31, 2021USD ($) |
CET1 capital to risk-weighted assets [Abstract] | ||
Actual Amount | $ 463,607 | $ 450,687 |
Minimum Capital Requirement, Amount | $ 179,354 | $ 173,674 |
CET1 capital to risk-weighted assets, Ratio [Abstract] | ||
Actual Ratio | 0.1163 | 0.1168 |
Minimum Capital Requirement, Ratio | 0.0450 | 0.0450 |
Tier 1 capital to risk-weighted assets [Abstract] | ||
Actual Amount | $ 473,607 | $ 460,687 |
Minimum Capital Requirement, Amount | $ 239,139 | $ 231,566 |
Tier 1 capital to risk-weighted assets, Ratio [Abstract] | ||
Actual Ratio | 0.1188 | 0.1194 |
Minimum Capital Requirement, Ratio | 0.0600 | 0.0600 |
Risk-based capital to risk-weighted assets [Abstract] | ||
Actual Amount | $ 523,580 | $ 509,091 |
Minimum Capital Requirement, Amount | $ 318,851 | $ 308,755 |
Risk-based capital to risk-weighted assets, Ratio [Abstract] | ||
Actual Ratio | 0.1314 | 0.1319 |
Minimum Capital Requirement, Ratio | 0.0800 | 0.0800 |
Tier 1 leverage capital ratio [Abstract] | ||
Actual Amount | $ 473,607 | $ 460,687 |
Minimum Capital Requirement, Amount | $ 224,315 | $ 206,606 |
Tier 1 leverage capital ratio, Ratio [Abstract] | ||
Actual Ratio | 0.0845 | 0.0892 |
Minimum Capital Requirement, Ratio | 0.0400 | 0.0400 |
Farmers & Merchants Bank [Member] | ||
CET1 capital to risk-weighted assets [Abstract] | ||
Actual Amount | $ 472,965 | $ 459,813 |
Minimum Capital Requirement, Amount | 179,339 | 173,664 |
Well Capitalized Requirement, Amount | $ 259,046 | $ 250,847 |
CET1 capital to risk-weighted assets, Ratio [Abstract] | ||
Actual Ratio | 0.1187 | 0.1191 |
Minimum Capital Requirement, Ratio | 0.0450 | 0.0450 |
Well Capitalized Requirement, Ratio | 0.0650 | 0.0650 |
Tier 1 capital to risk-weighted assets [Abstract] | ||
Actual Amount | $ 472,965 | $ 459,813 |
Minimum Capital Requirement, Amount | 239,119 | 231,551 |
Well Capitalized Requirement, Amount | $ 318,826 | $ 308,735 |
Tier 1 capital to risk-weighted assets, Ratio [Abstract] | ||
Actual Ratio | 0.1187 | 0.1191 |
Minimum Capital Requirement, Ratio | 0.0600 | 0.0600 |
Well Capitalized Requirement, Ratio | 0.0800 | 0.0800 |
Risk-based capital to risk-weighted assets [Abstract] | ||
Actual Amount | $ 522,934 | $ 508,215 |
Minimum Capital Requirement, Amount | 318,826 | 308,735 |
Well Capitalized Requirement, Amount | $ 398,532 | $ 385,919 |
Risk-based capital to risk-weighted assets, Ratio [Abstract] | ||
Actual Ratio | 0.1312 | 0.1317 |
Minimum Capital Requirement, Ratio | 0.0800 | 0.0800 |
Well Capitalized Requirement, Ratio | 0.1000 | 0.1000 |
Tier 1 leverage capital ratio [Abstract] | ||
Actual Amount | $ 472,965 | $ 459,813 |
Minimum Capital Requirement, Amount | 211,642 | 206,426 |
Well Capitalized Requirement, Amount | $ 264,552 | $ 258,033 |
Tier 1 leverage capital ratio, Ratio [Abstract] | ||
Actual Ratio | 0.0894 | 0.0891 |
Minimum Capital Requirement, Ratio | 0.0400 | 0.0400 |
Well Capitalized Requirement, Ratio | 0.0500 | 0.0500 |
Shareholders' Equity, Earnings
Shareholders' Equity, Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Numerator [Abstract] | ||
Net income | $ 17,058 | $ 16,713 |
Denominator [Abstract] | ||
Weighted average number of common shares outstanding (in shares) | 786,096 | 789,646 |
Weighted average number of dilutive shares outstanding (in shares) | 786,096 | 789,646 |
Basic earnings per common share (in dollars per share) | $ 21.70 | $ 21.17 |
Diluted earning per common share (in dollars per share) | $ 21.70 | $ 21.17 |
Fair Value Measurements, Summar
Fair Value Measurements, Summary (Details) | 3 Months Ended |
Mar. 31, 2022 | |
Impaired Loans [Member] | |
Fair Value Measurements [Abstract] | |
Percentage of selling costs | 10.00% |
ORE [Member] | |
Fair Value Measurements [Abstract] | |
Percentage of selling costs | 10.00% |
Fair Value Measurements, Assets
Fair Value Measurements, Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Financial Assets [Abstract] | ||
Investment securities available-for-sale | $ 251,375 | $ 270,454 |
Recurring [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 841,086 | 715,460 |
Investment securities available-for-sale | 251,375 | 270,454 |
Investment securities held-to-maturity | 815,703 | 726,034 |
Non-marketable securities | 15,549 | 15,549 |
Loans and leases, net | 3,184,796 | 3,179,857 |
Bank-owned life insurance | 71,953 | 71,411 |
Financial Liabilities [Abstract] | ||
Total deposits | 4,834,284 | 4,639,398 |
Subordinated debentures | 9,766 | 6,890 |
Recurring [Member] | Level 1 [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 841,086 | 715,460 |
Investment securities available-for-sale | 9,996 | 10,214 |
Investment securities held-to-maturity | 0 | 0 |
Non-marketable securities | 0 | 0 |
Loans and leases, net | 0 | 0 |
Bank-owned life insurance | 71,953 | 71,411 |
Financial Liabilities [Abstract] | ||
Total deposits | 4,446,659 | 4,247,666 |
Subordinated debentures | 0 | 0 |
Recurring [Member] | Level 2 [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 0 | 0 |
Investment securities available-for-sale | 241,379 | 260,240 |
Investment securities held-to-maturity | 771,971 | 681,588 |
Non-marketable securities | 0 | 0 |
Loans and leases, net | 0 | 0 |
Bank-owned life insurance | 0 | 0 |
Financial Liabilities [Abstract] | ||
Total deposits | 0 | 0 |
Subordinated debentures | 9,766 | 6,890 |
Recurring [Member] | Level 3 [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 0 | 0 |
Investment securities available-for-sale | 0 | 0 |
Investment securities held-to-maturity | 43,732 | 44,446 |
Non-marketable securities | 15,549 | 15,549 |
Loans and leases, net | 3,184,796 | 3,179,857 |
Bank-owned life insurance | 0 | 0 |
Financial Liabilities [Abstract] | ||
Total deposits | 387,625 | 391,732 |
Subordinated debentures | 0 | 0 |
Recurring [Member] | Carrying Amount [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 841,086 | 715,460 |
Investment securities available-for-sale | 251,375 | 270,454 |
Investment securities held-to-maturity | 876,257 | 737,052 |
Non-marketable securities | 15,549 | 15,549 |
Loans and leases, net | 3,176,587 | 3,176,170 |
Bank-owned life insurance | 71,953 | 71,411 |
Financial Liabilities [Abstract] | ||
Total deposits | 4,837,439 | 4,640,152 |
Subordinated debentures | $ 10,310 | $ 10,310 |
Fair Value Measurements, Asse_2
Fair Value Measurements, Assets Measured at Fair Value on a Recurring and Non-recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | $ 251,375 | $ 270,454 | |
U.S. Treasury Notes [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 9,996 | 10,089 | |
Mortgage-Backed Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | [1] | 223,901 | 251,120 |
Corporate Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 9,835 | ||
Other [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 310 | 435 | |
Recurring [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 251,375 | 270,454 | |
Recurring [Member] | U.S. Treasury Notes [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 9,996 | 10,089 | |
Recurring [Member] | U.S. Government-Sponsored Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 5,789 | 6,374 | |
Recurring [Member] | Mortgage-Backed Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 223,901 | 251,120 | |
Recurring [Member] | Collateralized Mortgage Obligations [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 1,544 | 2,436 | |
Recurring [Member] | Corporate Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 9,835 | ||
Recurring [Member] | Other [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 310 | 435 | |
Recurring [Member] | Level 1 [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 9,996 | 10,214 | |
Recurring [Member] | Level 1 [Member] | U.S. Treasury Notes [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 9,996 | 10,089 | |
Recurring [Member] | Level 1 [Member] | U.S. Government-Sponsored Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Level 1 [Member] | Mortgage-Backed Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Level 1 [Member] | Collateralized Mortgage Obligations [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Level 1 [Member] | Corporate Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | ||
Recurring [Member] | Level 1 [Member] | Other [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 125 | |
Recurring [Member] | Level 2 [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 241,379 | 260,240 | |
Recurring [Member] | Level 2 [Member] | U.S. Treasury Notes [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Level 2 [Member] | U.S. Government-Sponsored Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 5,789 | 6,374 | |
Recurring [Member] | Level 2 [Member] | Mortgage-Backed Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 223,901 | 251,120 | |
Recurring [Member] | Level 2 [Member] | Collateralized Mortgage Obligations [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 1,544 | 2,436 | |
Recurring [Member] | Level 2 [Member] | Corporate Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 9,835 | ||
Recurring [Member] | Level 2 [Member] | Other [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 310 | 310 | |
Recurring [Member] | Level 3 [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Level 3 [Member] | U.S. Treasury Notes [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Level 3 [Member] | U.S. Government-Sponsored Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Level 3 [Member] | Mortgage-Backed Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Level 3 [Member] | Collateralized Mortgage Obligations [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Level 3 [Member] | Corporate Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | ||
Recurring [Member] | Level 3 [Member] | Other [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 0 | 0 | |
Recurring [Member] | Carrying Amount [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 251,375 | 270,454 | |
Recurring [Member] | Carrying Amount [Member] | U.S. Treasury Notes [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 10,089 | ||
Recurring [Member] | Carrying Amount [Member] | U.S. Government-Sponsored Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 5,789 | 6,374 | |
Recurring [Member] | Carrying Amount [Member] | Mortgage-Backed Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 223,901 | 251,120 | |
Recurring [Member] | Carrying Amount [Member] | Collateralized Mortgage Obligations [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 1,544 | 2,436 | |
Recurring [Member] | Carrying Amount [Member] | Corporate Securities [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 9,835 | ||
Recurring [Member] | Carrying Amount [Member] | Other [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 310 | 435 | |
Recurring [Member] | Carrying Amount [Member] | Level 3 [Member] | U.S. Treasury Notes [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Investment securities available-for-sale | 9,996 | ||
Nonrecurring [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Individually evaluated loans | 2,562 | ||
Other real estate | 873 | 873 | |
Nonrecurring [Member] | Level 1 [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Individually evaluated loans | 0 | ||
Other real estate | 0 | 0 | |
Nonrecurring [Member] | Level 2 [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Individually evaluated loans | 0 | ||
Other real estate | 0 | 0 | |
Nonrecurring [Member] | Level 3 [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Individually evaluated loans | 2,562 | ||
Other real estate | 873 | 873 | |
Nonrecurring [Member] | Carrying Amount [Member] | |||
Fair Value on Recurring and Non-recurring Basis by Fair Value Hierarchy [Abstract] | |||
Individually evaluated loans | 2,562 | ||
Other real estate | $ 873 | $ 873 | |
[1] | All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government. |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2021 | |
Minimum [Member] | ||
Off Balance Sheet Commitments [Abstract] | ||
Off balance sheet risks maturity period | 1 month | |
Maximum [Member] | ||
Off Balance Sheet Commitments [Abstract] | ||
Off balance sheet risks maturity period | 60 months | |
Commitments to Extend Credit [Member] | ||
Off Balance Sheet Commitments [Abstract] | ||
Off-balance sheet risks, amount, liability | $ 987,423 | $ 937,009 |
Unsecured commitments | 20,907 | 21,036 |
Stand-by Letters of Credit [Member] | ||
Off Balance Sheet Commitments [Abstract] | ||
Off-balance sheet risks, amount, liability | 16,250 | 17,880 |
Unsecured commitments | 8,361 | 9,091 |
Performance Guarantees under Interest Rate Swap Contracts Entered into with Our Clients and Third-Parties [Member] | ||
Off Balance Sheet Commitments [Abstract] | ||
Off-balance sheet risks, amount, liability | $ 191 | $ 1,433 |