Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 01, 2020 | |
Cover [Abstract] | ||
Entity Central Index Key | 0001130144 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2020 | |
Document Transition Report | false | |
Entity File Number | 000-33063 | |
Entity Registrant Name | SIERRA BANCORP | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 33-0937517 | |
Entity Address, Address Line One | 86 North Main Street | |
Entity Address, City or Town | Porterville | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 93257 | |
City Area Code | 559 | |
Local Phone Number | 782-4900 | |
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 | |
Title of 12(b) Security | Common Stock, no par value | |
Trading Symbol | BSRR | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 15,190,038 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 | |
Amendment Flag | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and due from banks | $ 78,660 | $ 65,556 |
Interest-bearing deposits in banks | 28,332 | 14,521 |
Cash and cash equivalents | 106,992 | 80,077 |
Securities available-for-sale | 620,154 | 600,799 |
Loans and leases: | ||
Gross loans and leases | 1,798,025 | 1,762,565 |
Allowance for loan and lease losses | (11,453) | (9,923) |
Deferred loan and lease costs, net | 2,741 | 2,896 |
Net loans and leases | 1,789,313 | 1,755,538 |
Foreclosed assets | 766 | 800 |
Premises and equipment, net | 28,425 | 27,435 |
Goodwill | 27,357 | 27,357 |
Other intangible assets, net | 5,112 | 5,381 |
Company owned life insurance | 50,722 | 50,517 |
Other assets | 41,628 | 45,915 |
Total assets | 2,670,469 | 2,593,819 |
Deposits: | ||
Non-interest bearing | 704,700 | 690,950 |
Interest bearing | 1,474,691 | 1,477,424 |
Total deposits | 2,179,391 | 2,168,374 |
Repurchase agreements | 29,361 | 25,711 |
Short-term borrowings | 74,100 | 20,000 |
Subordinated debentures, net | 34,990 | 34,945 |
Other liabilities | 33,168 | 35,504 |
Total liabilities | 2,351,010 | 2,284,534 |
Commitments and contingent liabilities (Note 7) | ||
Shareholders' equity | ||
Common stock, no par value; 24,000,000 shares authorized; 15,190,038 and 15,284,538 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively | 112,600 | 113,179 |
Additional paid-in capital | 3,367 | 3,307 |
Retained earnings | 189,882 | 186,867 |
Accumulated other comprehensive gain (loss), net | 13,610 | 5,932 |
Total shareholders' equity | 319,459 | 309,285 |
Total liabilities and shareholder's equity | $ 2,670,469 | $ 2,593,819 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | |||||
Common Stock, No Par Value | $ 0 | $ 0 | |||
Common Stock, Shares Authorized | 24,000,000 | 24,000,000 | |||
Common Stock, Shares, Issued | 15,190,038 | 15,284,538 | |||
Common Stock, Shares, Outstanding | 15,190,038 | 15,284,538 | 15,328,030 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Interest and dividend income | ||
Loans and leases, including fees | $ 22,112 | $ 23,748 |
Taxable securities | 2,460 | 2,617 |
Tax-exempt securities | 1,339 | 1,045 |
Federal funds sold and other | 140 | 73 |
Total interest income | 26,051 | 27,483 |
Interest expense | ||
Deposits | 1,834 | 2,955 |
Short-term borrowings | 36 | 72 |
Subordinated debentures | 394 | 483 |
Total interest expense | 2,264 | 3,510 |
Net interest income | 23,787 | 23,973 |
Provision (benefit) for loan losses | 1,800 | 300 |
Net interest income after provision for loan and lease losses | 21,987 | 23,673 |
Non-interest income | ||
Service charges on deposits | 3,183 | 2,943 |
Net (losses) gains on sale of securities available-for-sale | 6 | |
Other income | 2,923 | 2,963 |
Total non-interest income | 6,106 | 5,906 |
Non-interest expense | ||
Salaries and employee benefits | 10,172 | 9,243 |
Occupancy and equipment | 2,327 | 2,361 |
Other | 5,319 | 6,248 |
Total non-interest expense | 17,818 | 17,852 |
Income before income taxes | 10,275 | 11,727 |
Provision for income taxes | 2,468 | 2,832 |
Net income | $ 7,807 | $ 8,895 |
Earnings per share | ||
Book value | $ 21.03 | $ 18.53 |
Cash dividend per share | 0.20 | 0.18 |
Basic | 0.51 | 0.58 |
Diluted | $ 0.51 | $ 0.58 |
Weighted average shares outstanding, basic | 15,262,252 | 15,311,154 |
Weighted average shares outstanding, diluted | 15,340,017 | 15,447,747 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 7,807 | $ 8,895 |
Unrealized gain (loss) on securities: | ||
Unrealized holding gain (loss) arising during period | 10,902 | 6,167 |
Reclassification adjustment for losses (gains) included in net income | (6) | |
Other comprehensive gain (loss), before tax | 10,902 | 6,161 |
Income tax (expense) benefit related to items of other comprehensive income | (3,224) | (1,821) |
Total other comprehensive gain (loss), net of tax | 7,678 | 4,340 |
Comprehensive income | $ 15,485 | $ 13,235 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | ||
Reclassification adjustment for (losses) gains on securities available-for-sale included in net income, tax | $ 0 | $ 2 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (loss) [Member] | Total |
Balance at Dec. 31, 2018 | $ 112,507 | $ 3,066 | $ 164,117 | $ (6,666) | $ 273,024 |
Balance (in shares) at Dec. 31, 2018 | 15,300,460 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 8,895 | 8,895 | |||
Other comprehensive income, net of tax | 4,340 | 4,340 | |||
Exercise of stock options | $ 494 | (82) | 412 | ||
Exercise of stock options (in shares) | 27,570 | ||||
Stock compensation costs | 151 | 151 | |||
Cash dividends | (2,754) | (2,754) | |||
Balance at Mar. 31, 2019 | $ 113,001 | 3,135 | 170,258 | (2,326) | 284,068 |
Balance (in shares) at Mar. 31, 2019 | 15,328,030 | ||||
Balance at Dec. 31, 2019 | $ 113,179 | 3,307 | 186,867 | 5,932 | 309,285 |
Balance (in shares) at Dec. 31, 2019 | 15,285,118 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 7,807 | 7,807 | |||
Other comprehensive income, net of tax | 7,678 | 7,678 | |||
Exercise of stock options | $ 250 | (69) | 181 | ||
Exercise of stock options (in shares) | 16,970 | ||||
Stock compensation costs | 129 | 129 | |||
Stock repurchase | $ (829) | (1,733) | (2,562) | ||
Stock repurchase (in shares) | (112,050) | ||||
Cash dividends | (3,059) | (3,059) | |||
Balance at Mar. 31, 2020 | $ 112,600 | $ 3,367 | $ 189,882 | $ 13,610 | $ 319,459 |
Balance (in shares) at Mar. 31, 2020 | 15,190,038 |
CONSOLIDATED STATEMENT OF CHA_2
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Statement of Stockholders' Equity [Abstract] | ||
Common Stock, Dividends, Per Share, Declared | $ 0.20 | $ 0.18 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash flows from operating activities: | ||
Net income | $ 7,807 | $ 8,895 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Loss (gain) on sales of securities | (6) | |
Loss on disposal of fixed assets | 12 | |
Gain on sale of foreclosed assets | 2 | (16) |
Writedowns of foreclosed assets | 20 | |
Share-based compensation expense | 129 | 151 |
Provision (benefit) for loan losses | 1,800 | 300 |
Depreciation and amortization | 771 | 754 |
Net amortization on securities premiums and discounts | 1,050 | 1,030 |
Accretion of discounts for loans acquired and net deferred loan fees | (225) | (266) |
Increase in cash surrender value of life insurance policies | (38) | (900) |
Amortization of core deposit intangible | 269 | 269 |
(Increase) decrease in interest receivable and other assets | 1,467 | (203) |
Increase (decrease) in other liabilities | (2,336) | 4,476 |
Deferred income tax benefit | (114) | 2 |
Increase in equity securities | (447) | |
Net amortization of partnership investment | 158 | 450 |
Net cash provided by operating activities | 10,293 | 14,968 |
Cash flows from investing activities: | ||
Maturities and calls of securities available for sale | 2,430 | 1,150 |
Proceeds from sales of securities available for sale | 15,504 | |
Purchases of securities available for sale | (33,285) | (34,469) |
Principal paydowns on securities available for sale | 21,351 | 19,803 |
Loan originations and payments, net | (35,350) | (19,618) |
Purchases of premises and equipment, net | (1,716) | (87) |
Proceeds from sale premises and equipment | 10 | |
Proceeds from sales of foreclosed assets | 32 | 7,920 |
Purchase of bank owned life insurance | (167) | (217) |
Net cash used in investing activities | (46,705) | (10,004) |
Cash flows from financing activities: | ||
Increase in deposits | 11,017 | 44,408 |
Increase (decrease) in borrowed funds | 54,100 | (56,100) |
Increase (decrease) in repurchase agreements | 3,650 | 3,001 |
Cash dividends paid | (3,059) | (2,754) |
Repurchases of common stock | (2,562) | |
Stock options exercised | 181 | 412 |
Net cash provided by financing activities | 63,327 | (11,033) |
(Decrease) increase in cash and due from banks | 26,915 | (6,069) |
Cash and cash equivalents, beginning of year | 80,077 | 74,132 |
Cash and cash equivalents, end of year | 106,992 | 68,063 |
Supplemental disclosure of cash flow information: | ||
Interest | $ 2,359 | 3,409 |
Supplemental noncash disclosures: | ||
Real estate acquired through foreclosure | 26 | |
Operating right-of-use asset pursuant to adoption on ASU 2016-02 | 9,712 | |
Operating lease liability pursuant to adoption of ASU 2016-02 | $ 10,336 |
The Business of Sierra Bancorp
The Business of Sierra Bancorp | 3 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
The Business of Sierra Bancorp | Note 1 – The Business of Sierra Bancorp Sierra Bancorp (the “Company”) is a California corporation headquartered in Porterville, California, and is a registered bank holding company under federal banking laws. The Company was formed to serve as the holding company for Bank of the Sierra (the “Bank”), and has been the Bank’s sole shareholder since August 2001. The Company exists primarily for the purpose of holding the stock of the Bank and of such other subsidiaries it may acquire or establish. As of March 31, 2020, the Company’s only other subsidiaries were Sierra Statutory Trust II, Sierra Capital Trust III, and Coast Bancorp Statutory Trust II, which were formed solely to facilitate the issuance of capital trust pass-through securities (“TRUPS”). Pursuant to the Financial Accounting Standards Board (“FASB”) standard on the consolidation of variable interest entities, these trusts are not reflected on a consolidated basis in the Company’s financial statements. References herein to the “Company” include Sierra Bancorp and its consolidated subsidiary, the Bank, unless the context indicates otherwise. Bank of the Sierra, a California state-chartered bank headquartered in Porterville, California, offers a wide range of retail and commercial banking services via branch offices located throughout California’s South San Joaquin Valley, the Central Coast, Ventura County, and neighboring communities. The Bank was incorporated in September 1977, and opened for business in January 1978 as a one-branch bank with $1.5 million in capital. Our growth in the ensuing years has largely been organic in nature, but includes four whole-bank acquisitions: Sierra National Bank in 2000, Santa Clara Valley Bank in 2014, Coast National Bank in 2016, and Ojai Community Bank in October 2017. As of the filing date of this report the Bank operates 40 full service branches and an online branch, and maintains ATMs at all but one of our branch locations as well as seven non-branch locations. Moreover, the Bank has specialized lending units which focus on agricultural borrowers, SBA loans, and mortgage warehouse lending. The Company had total assets of $2.7 billion at March 31, 2020, and for a number of years we have claimed the distinction of being the largest bank headquartered in the South San Joaquin Valley. The Bank’s deposit accounts, which totaled $2.2 billion at March 31, 2020, are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to maximum insurable amounts. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2020 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note 2 – Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in a condensed format, and therefore do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. The information furnished in these interim statements reflects all adjustments that are, in the opinion of Management, necessary for a fair statement of the results for such periods. Such adjustments can generally be considered as normal and recurring unless otherwise disclosed in this Form 10‑Q. In preparing the accompanying financial statements, Management has taken subsequent events into consideration and recognized them where appropriate. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter, or for the full year. Certain amounts reported for 2019 have been reclassified to be consistent with the reporting for 2020. The interim financial information should be read in conjunction with the Company’s Annual Report on Form 10‑K for the year ended December 31, 2019, as filed with the Securities and Exchange Commission (the “SEC”). |
Current Accounting Developments
Current Accounting Developments | 3 Months Ended |
Mar. 31, 2020 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Current Accounting Developments | Note 3 – Current Accounting Developments In September 2016 the FASB issued ASU 2016‑13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which eliminates the probable initial recognition threshold for credit losses in current U.S. GAAP, and instead requires an organization to record a current estimate of all expected credit losses over the contractual term for financial assets carried at amortized cost. This is commonly referred to as the current expected credit losses (“CECL”) methodology. Expected credit losses for financial assets held at the reporting date will be measured based on historical experience, current conditions, and reasonable and supportable forecasts. Another change from existing U.S. GAAP involves the treatment of purchased credit deteriorated assets, which are more broadly defined than purchased credit impaired assets in current accounting standards. When such assets are purchased, institutions will estimate and record an allowance for credit losses that is added to the purchase price rather than being reported as a credit loss expense. Furthermore, ASU 2016‑13 updates the measurement of credit losses on available-for-sale debt securities, by mandating that institutions record credit losses on available-for-sale debt securities through an allowance for credit losses rather than the current practice of writing down securities for other-than-temporary impairment. ASU 2016‑13 will also require the enhancement of financial statement disclosures regarding estimates used in calculating credit losses. ASU 2016‑13 does not change the existing write-off principle in U.S. GAAP or current nonaccrual practices, nor does it change accounting requirements for loans held for sale or certain other financial assets which are measured at the lower of amortized cost or fair value. As a public business entity that is an SEC filer, ASU 2016‑13 becomes effective for the Company on January 1, 2020. On the effective date, institutions will apply the new accounting standard as follows: for financial assets carried at amortized cost, a cumulative-effect adjustment will be recognized on the balance sheet for any change in the related allowance for loan and lease losses generated by the adoption of the new standard; financial assets classified as purchased credit impaired assets prior to the effective date will be reclassified as purchased credit deteriorated assets as of the effective date, and will be grossed up for the related allowance for expected credit losses created as of the effective date; and, debt securities on which other-than-temporary impairment had been recognized prior to the effective date will transition to the new guidance prospectively with no change in their amortized cost basis. The Company adopted ASU 2016-13 on January 1, 2020, however, the Company elected under Section 4014 of the Coronavirus Aid, Relief and Economic Security (CARES) Act to defer the implementation of CECL until the earlier of when the national emergency related to the outbreak of COVID-19 ends or December 31, 2020. Although this deferral will still require CECL to be implemented as of January 1, 2020, the Company believes that the deferral will provide time to better assess the impact of the COVID-19 pandemic on the expected lifetime credit losses. While the ultimate impact cannot be definitively determined at this time, the provisions of ASU 2016-13 will have a material impact on our consolidated financial statements, particularly the level of our allowance for credit losses and shareholders’ equity. In January 2017 the FASB issued ASU 2017‑04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment . This guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation, and goodwill impairment will simply be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. Entities will be required to disclose the amount of goodwill at reporting units with zero or negative carrying amounts. The amendments in this update were effective for public business entities for fiscal years beginning after December 15, 2019. In accordance with ASU 2017-04, the Company performed a qualitative analysis of goodwill during the first quarter of 2020, and determined that a quantitative analysis was not necessary at this time. Thus, we have not been required to record any goodwill impairment to date. In August 2018 the FASB issued ASU 2018‑13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement, as part of its disclosure framework project. Pursuant to this guidance, disclosures that will no longer be required include the following: transfers between Level 1 and Level 2 of the fair value hierarchy; transfers in and out of Level 3 for nonpublic entities, as well as purchases and issuances and the Level 3 roll forward; a company’s policy for determining when transfers between any of the three levels have occurred; the valuation processes used for Level 3 measurements; and, the changes in unrealized gains or losses presented in earnings for Level 3 instruments held at the balance sheet date for nonpublic entities. The following are additional disclosure requirements: for public entities, the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 instruments held at the balance sheet date; for public entities, the range and weighted average of significant unobservable inputs used for Level 3 measurements, although for certain unobservable inputs the entity will be allowed to disclose other quantitative information in place of the weighted average to the extent that it would be a more reasonable and rational method to reflect the distribution of unobservable inputs; for nonpublic entities, some form of quantitative information about significant unobservable inputs used in Level 3 fair value measurements; and, for certain investments in entities that calculate the net asset value, disclosures will be required about the timing of liquidation and redemption restrictions lapsing if the latter has been communicated to the reporting entity. The guidance also clarifies that the Level 3 measurement uncertainty disclosure should communicate information about the uncertainty at the balance sheet date. ASU 2018‑13 is effective for all entities in fiscal years beginning after December 15, 2019, including interim periods. Early adoption is permitted. In addition, an entity may early adopt any of the removed or modified disclosures immediately and delay adoption of the new disclosures until the effective date. The Company adopted ASU 2018-13 effective January 1, 2020 which impacts the disclosure requirements for fair value measurement. In May 2019, the FASB issued ASU 2019-05, Financial Instruments—Credit Losses (Topic 326) , which provides transition relief for entities adopting ASU 2016-13. ASU 2019-05 amends ASU 2016-13 to allow companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option on financial instruments that (1) were previously recorded at amortized cost and (2) are within the scope of ASC 326-20 if the instruments are eligible for the fair value option under ASC 825-10. An entity will apply the amendments in this update through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). A prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date, in order to maintain the same amortized cost basis before and after the effective date of this update. Amounts previously recognized in accumulated other comprehensive income as of the date of adoption that relate to improvements in cash flows expected to be collected should continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption should be recorded in earnings when received. The fair value option election does not apply to held-to-maturity debt securities. Entities are required to make this election on an instrument-by-instrument basis. For public business entities that are SEC filers, including the Company, the amendments in ASU 2019-05 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2019-05 effective January 1, 2020. There was no impact to the financial statements of the Company as we did not elect the fair value option on financial instruments upon adoption of ASU 2016-13. In March 2020, in an effort to conform with Section 4013 of the CARES Act, various regulatory agencies, including the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, (“the agencies”) issued an interagency statement on loan modifications and reporting for financial institutions working with customers affected by the Coronavirus. The interagency statement was effective immediately and impacted accounting for loan modifications. Under Accounting Standards Codification 310-40, “Receivables – Troubled Debt Restructurings by Creditors,” (“ASC 310-40”), a restructuring of debt constitutes a troubled debt restructuring (“TDR”) if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. The agencies confirmed with the staff of the FASB that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief, are not to be considered TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented. This interagency guidance is expected to have a material impact on the Company’s financial statements; however, this impact cannot be quantified at this time. |
Share Based Compensation
Share Based Compensation | 3 Months Ended |
Mar. 31, 2020 | |
Share Based Compensation [Abstract] | |
Share Based Compensation | Note 4 – Share Based Compensation On March 16, 2017 the Company’s Board of Directors approved and adopted the 2017 Stock Incentive Plan (the “2017 Plan”), which became effective May 24, 2017, the date approved by the Company’s shareholders. The 2017 Plan replaced the Company’s 2007 Stock Incentive Plan (the “2007 Plan”), which expired by its own terms on March 15, 2017. Options to purchase 327,610 shares that were granted under the 2007 Plan were still outstanding as of March 31, 2020 and remain unaffected by that plan’s expiration. The 2017 Plan provides for the issuance of both “incentive” and “nonqualified” stock options to officers and employees, and of “nonqualified” stock options to non-employee directors and consultants of the Company. The 2017 Plan also provides for the issuance of restricted stock awards to these same classes of eligible participants, although no restricted stock awards have ever been issued by the Company. The total number of shares of the Company’s authorized but unissued stock reserved for issuance pursuant to awards under the 2017 Plan was initially 850,000 shares, and the number remaining available for grant as of March 31, 2020 was 547 ,000 . The potential dilutive impact of unexercised stock options is discussed below in Note 5, Earnings per Share. Pursuant to FASB’s standards on stock compensation, the value of each stock option is reflected in our income statement as employee compensation or directors’ expense by amortizing its grant date fair value over the vesting period of the option. The Company utilizes a Black-Scholes model to determine grant date fair values. A pre-tax charge of $.1 million was reflected in the Company’s income statement during the first quarter of 2020 and $.2 million was charged during the first quarter of 2019, as expense related to stock options. |
Earnings per Share
Earnings per Share | 3 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Note 5 – Earnings per Share The computation of earnings per share, as presented in the Consolidated Statements of Income, is based on the weighted average number of shares outstanding during each period. There were 15,262,252 weighted average shares outstanding during the first quarter of 2020 and 15,311,154 during the first quarter of 2019. Diluted earnings per share calculations include the effect of the potential issuance of common shares, which for the Company is limited to shares that would be issued on the exercise of “in-the-money” stock options. For the first quarter of 2020, calculations under the treasury stock method resulted in the equivalent of 77,765 shares being added to basic weighted average shares outstanding for purposes of determining diluted earnings per share, while a weighted average of 304,763 stock options were excluded from the calculation because they were underwater and thus anti-dilutive. For the first quarter of 2019 the equivalent of 136,593 shares were added in calculating diluted earnings per share, while 199,120 anti-dilutive stock options were not factored into the computation. |
Comprehensive Income
Comprehensive Income | 3 Months Ended |
Mar. 31, 2020 | |
Stockholders' Equity Note [Abstract] | |
Comprehensive Income | Note 6 – Comprehensive Income As presented in the Consolidated Statements of Comprehensive Income, comprehensive income includes net income and other comprehensive income. The Company’s only source of other comprehensive income is unrealized gains and losses on available-for-sale investment securities. Investment gains or losses that were realized and reflected in net income of the current period, which had previously been included in other comprehensive income as unrealized holding gains or losses in the period in which they arose, are considered to be reclassification adjustments that are excluded from other comprehensive income in the current period. |
Financial Instruments with Off-
Financial Instruments with Off-Balance-Sheet Risk | 3 Months Ended |
Mar. 31, 2020 | |
Financial Instruments with Off Balance Sheet Risk [Abstract] | |
Financial Instruments with Off-Balance-Sheet Risk | Note 7 – Financial Instruments with Off-Balance-Sheet Risk The Company is a party to financial instruments with off‑balance‑sheet risk in the normal course of business. Those financial instruments currently consist of unused commitments to extend credit and standby letters of credit. They involve, to varying degrees, elements of risk in excess of the amount recognized in the balance sheet. The Company’s exposure to credit loss in the event of nonperformance by counterparties for commitments to extend credit and letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and issuing letters of credit as it does for originating loans included on the balance sheet. The following financial instruments represent off‑balance‑sheet credit risk (dollars in thousands): March 31, 2020 December 31, 2019 Commitments to extend credit $ 453,849 $ 492,040 Standby letters of credit $ 9,067 $ 8,619 Commitments to extend credit consist primarily of the unused or unfunded portions of the following: home equity lines of credit; commercial real estate construction loans, where disbursements are made over the course of construction; commercial revolving lines of credit; mortgage warehouse lines of credit; unsecured personal lines of credit; and formalized (disclosed) deposit account overdraft lines. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many commitments are expected to expire without being drawn upon, the unused portions of committed amounts do not necessarily represent future cash requirements. Standby letters of credit are issued by the Company to guarantee the performance of a customer to a third party, and the credit risk involved in issuing letters of credit is essentially the same as the risk involved in extending loans to customers. At March 31, 2020, the Company was also utilizing a letter of credit in the amount of $105 million issued by the Federal Home Loan Bank on the Company’s behalf as security for certain deposits and to facilitate certain credit arrangements with the Company’s customers. That letter of credit is backed by loans which are pledged to the FHLB by the Company. |
Fair Value Disclosures and Repo
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Note 8 – Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements FASB’s standards on financial instruments, and on fair value measurements and disclosures, require public business entities to disclose in their financial statement footnotes the estimated fair values of financial instruments. In addition to disclosure requirements, FASB’s standard on investments requires that our debt securities that are classified as available for sale and any equity securities which have readily determinable fair values be measured and reported at fair value in our statement of financial position. Certain impaired loans are also reported at fair value, as explained in greater detail below, and foreclosed assets are carried at the lower of cost or fair value. FASB’s standard on financial instruments permits companies to report certain other financial assets and liabilities at fair value, but we have not elected the fair value option for any of those financial instruments. Fair value measurement and disclosure standards also establish a framework for measuring fair values. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants on the measurement date. Further, the standards establish a fair value hierarchy that encourages an entity to maximize the use of observable inputs and limit the use of unobservable inputs when measuring fair values. The standards describe three levels of inputs that may be used to measure fair values: · Level 1 : Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. · Level 2 : Significant observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. · Level 3 : Significant unobservable inputs that reflect a company’s own assumptions about the factors that market participants would likely consider in pricing an asset or liability. Fair value estimates are made at a specific point in time based on relevant market data and information about the financial instruments. Fair value disclosures for deposits include demand deposits, which are by definition equal to the amount payable on demand at the reporting date. Fair value calculations for loans and leases reflect exit pricing, and incorporate our assumptions with regard to the impact of prepayments on future cash flows and credit quality adjustments based on risk characteristics of various financial instruments, among other things. Since the estimates are subjective and involve uncertainties and matters of significant judgment they cannot be determined with precision, and changes in assumptions could significantly alter the fair values presented. Estimated fair values for the Company’s financial instruments are as follows, as of the dates noted: Fair Value of Financial Instruments (dollars in thousands, unaudited) March 31, 2020 Fair Value Measurements Carrying Quoted Prices in Significant Significant Total Financial assets: Cash and cash equivalents $ 106,992 $ 106,992 $ — $ — $ 106,992 Investment securities available for sale 620,154 — 620,154 — 620,154 Loans and leases, net held for investment 1,787,101 — — 1,834,373 1,834,373 Collateral dependent impaired loans 2,212 — 2,212 — 2,212 Financial liabilities: Deposits 2,179,391 704,700 1,474,482 — 2,179,182 Repurchase agreements 29,361 — 29,361 — 29,361 Short term borrowings 74,100 — 74,100 — 74,100 Subordinated debentures 34,990 — 29,911 — 29,911 December 31, 2019 Fair Value Measurements Carrying Quoted Prices in Significant Significant Total Financial assets: Cash and cash equivalents $ 80,077 $ 80,076 $ — $ — $ 80,076 Investment securities available for sale 600,799 — 600,799 — 600,799 Loans and leases, net held for investment 1,753,846 — — 1,761,461 1,761,461 Collateral dependent impaired loans 1,692 — 1,692 — 1,692 Financial liabilities: Deposits 2,168,374 690,950 1,477,497 — 2,168,447 Repurchase agreements 25,711 — 25,711 — 25,711 Short term borrowings 20,000 — 20,000 — 20,000 Subordinated debentures 34,945 — 30,564 — 30,564 For financial asset categories that were carried on our balance sheet at fair value as of March 31, 2020 and December 31, 2019, the Company used the following methods and significant assumptions: · Investment securities : Fair values are determined by obtaining quoted prices on nationally recognized securities exchanges or by matrix pricing, which is a mathematical technique used widely in the industry to value debt securities by relying on their relationship to other benchmark quoted securities. · Collateral-dependent impaired loans : Collateral-dependent impaired loans are carried at fair value when it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the original loan agreement and the loan has been written down to the fair value of its underlying collateral, net of expected disposition costs where applicable. · Foreclosed assets : Repossessed real estate (known as other real estate owned, or “OREO”) and other foreclosed assets are carried at the lower of cost or fair value. Fair value is the appraised value less expected selling costs for OREO and some other assets such as mobile homes; fair values for any other foreclosed assets are represented by estimated sales proceeds as determined using reasonably available sources. Foreclosed assets for which appraisals can be feasibly obtained are periodically measured for impairment using updated appraisals. Fair values for other foreclosed assets are adjusted as necessary, subsequent to a periodic re-evaluation of expected cash flows and the timing of resolution. If impairment is determined to exist, the book value of a foreclosed asset is immediately written down to its estimated impaired value through the income statement, thus the carrying amount is equal to the fair value and there is no valuation allowance. Assets reported at fair value on a recurring basis are summarized below: Fair Value Measurements – Recurring (dollars in thousands, unaudited) Fair Value Measurements at March 31, 2020, using Quoted Prices in Significant Significant Total Realized Securities: U.S. government agencies $ — $ 11,742 $ — $ 11,742 $ — Mortgage-backed securities — 405,246 — 405,246 — State and political subdivisions — 203,166 — 203,166 — Total available-for-sale securities $ — $ 620,154 $ — $ 620,154 $ — Fair Value Measurements at December 31, 2019, using Quoted Prices in Significant Significant Total Realized Securities: U.S. government agencies $ — $ 12,145 $ — $ 12,145 $ — Mortgage-backed securities — 400,389 — 400,389 — State and political subdivisions — 188,265 — 188,265 — Total available-for-sale securities $ — $ 600,799 $ — $ 600,799 $ — Assets reported at fair value on a nonrecurring basis are summarized below: Fair Value Measurements – Nonrecurring (dollars in thousands, unaudited) Fair Value Measurements at March 31, 2020, using Quoted Prices in Significant Significant Total Impaired loans Real estate: 1-4 family residential construction $ — $ — $ — $ — Other construction/land — — — — 1-4 family - closed-end — — — — Equity lines — — — — Multi-family residential — — — — Commercial real estate - owner occupied — 86 — 86 Commercial real estate - non-owner occupied — 2,126 — 2,126 Farmland — — — — Total real estate — 2,212 — 2,212 Agricultural — — — — Commercial and industrial — — — — Consumer loans — — — — Total impaired loans $ — $ 2,212 $ — $ 2,212 Foreclosed assets $ — $ 766 $ — $ 766 Total assets measured on a nonrecurring basis $ — $ 2,978 $ — $ 2,978 Fair Value Measurements at December 31, 2019, using Quoted Prices in Significant Significant Total Impaired loans Real estate: 1-4 family residential construction $ — $ — $ — $ — Other construction/land — — — — 1-4 family - closed-end — — — — Equity lines — — — — Multi-family residential — — — — Commercial real estate - owner occupied — 88 — 88 Commercial real estate - non-owner occupied — 1,605 — 1,605 Farmland — — — — Total real estate — 1,693 — 1,693 Agricultural — — — — Commercial and industrial — — — — Consumer loans — — — - Total impaired loans $ — $ 1,693 $ — $ 1,693 Foreclosed assets $ — $ 800 $ — $ 800 Total assets measured on a nonrecurring basis $ — $ 2,493 $ — $ 2,493 The table above includes collateral-dependent impaired loan balances for which a specific reserve has been established or on which a write-down has been taken. Information on the Company’s total impaired loan balances and specific loss reserves associated with those balances is included in Note 11 below. The unobservable inputs are based on Management’s best estimates of appropriate discounts in arriving at fair market value. Adjusting any of those inputs could result in a significantly lower or higher fair value measurement. For example, an increase or decrease in actual loss rates would create a directionally opposite change in the fair value of unsecured impaired loans. |
Investments
Investments | 3 Months Ended |
Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments | Note 9 – Investments Investment Securities Although the Company currently has the intent and the ability to hold the securities in its investment portfolio to maturity, the securities are all marketable and are classified as “available for sale” to allow maximum flexibility with regard to interest rate risk and liquidity management. Pursuant to FASB’s guidance on accounting for debt and equity securities, available for sale securities are carried on the Company’s financial statements at their estimated fair market values, with monthly tax-effected “mark-to-market” adjustments made vis-à-vis accumulated other comprehensive income in shareholders’ equity. The amortized cost and estimated fair value of available-for-sale investment securities are as follows: Amortized Cost And Estimated Fair Value (dollars in thousands, unaudited) March 31, 2020 Amortized Gross Gross Estimated Fair U.S. government agencies $ 11,587 $ 204 $ (49) $ 11,742 Mortgage-backed securities 393,680 11,742 (176) 405,246 State and political subdivisions 195,565 7,623 (22) 203,166 Total securities $ 600,832 $ 19,569 $ (247) $ 620,154 December 31, 2019 Amortized Gross Gross Estimated Fair U.S. government agencies $ 12,125 $ 124 $ (104) $ 12,145 Mortgage-backed securities 398,353 3,354 (1,318) 400,389 State and political subdivisions 181,900 6,478 (113) 188,265 Total securities $ 592,378 $ 9,956 $ (1,535) $ 600,799 At March 31, 2020 and December 31, 2019, the Company had 34 securities and 198 securities, respectively, with gross unrealized losses. Management has evaluated those securities as of the respective dates, and does not believe that any of the unrealized losses are other than temporary. Gross unrealized losses on our investment securities as of the indicated dates are disclosed in the table below, categorized by investment type and by the duration of time that loss positions on individual securities have continuously existed (over or under twelve months). Investment Portfolio - Unrealized Losses (dollars in thousands, unaudited) March 31, 2020 Less than twelve months Twelve months or more Gross Fair Value Gross Fair Value U.S. government agencies $ (3) $ 1,199 $ (46) $ 2,587 Mortgage-backed securities (94) 7,717 (82) 8,717 State and political subdivisions (22) 5,791 — — Total $ (119) $ 14,707 $ (128) $ 11,304 December 31, 2019 Less than twelve months Twelve months or more Gross Fair Value Gross Fair Value U.S. government agencies $ (32) $ 3,240 $ (72) $ 2,689 Mortgage-backed securities (494) 100,518 (824) 78,538 State and political subdivisions (113) 19,762 — — Total $ (639) $ 123,520 $ (896) $ 81,227 The table below summarizes the Company’s gross realized gains and losses as well as gross proceeds from the sales of securities, for the periods indicated: Investment Portfolio - Realized Gains/(Losses) (dollars in thousands, unaudited) Three months ended March 31, 2020 2019 Proceeds from sales, calls and maturities of securities available for sale $ 2,430 $ 16,654 Gross gains on sales, calls and maturities of securities available for sale — 94 Gross losses on sales, calls and maturities of securities available for sale — (88) Net gains on sale of securities available for sale $ $— $ $6 The amortized cost and estimated fair value of investment securities available-for-sale at March 31, 2020 and December 31, 2019 are shown below, grouped by the remaining time to contractual maturity dates. The expected life of investment securities may not be consistent with contractual maturity dates, since the issuers of the securities might have the right to call or prepay obligations with or without penalties. Estimated Fair Value of Contractual Maturities (dollars in thousands, unaudited) March 31, 2020 Amortized Cost Fair Value Maturing within one year $ 7,037 $ 7,158 Maturing after one year through five years 15,424 15,631 Maturing after five years through ten years 35,850 36,927 Maturing after ten years 148,842 155,192 Securities not due at a single maturity date: Mortgage-backed securities 194,774 199,613 Collateralized mortgage obligations 198,905 205,633 $ 600,832 $ 620,154 December 31, 2019 Amortized Cost Fair Value Maturing within one year $ 7,155 $ 7,244 Maturing after one year through five years 17,008 17,171 Maturing after five years through ten years 33,805 34,881 Maturing after ten years 136,057 141,114 Securities not due at a single maturity date: Mortgage-backed securities 189,554 190,488 Collateralized mortgage obligations 208,799 209,901 $ 592,378 $ 600,799 At March 31, 2020, the Company’s investment portfolio included 349 “muni” bonds issued by 280 different government municipalities and agencies located within 31 different states, with an aggregate fair value of $203 million. The largest exposure to any single municipality or agency was a combined $3.9 million (fair value) in general obligation bonds issued by the Charter Township of Washington County (MI). The Company’s investments in bonds issued by states, municipalities and political subdivisions are evaluated in accordance with Supervision and Regulation Letter 12‑15 issued by the Board of Governors of the Federal Reserve System, “Investing in Securities without Reliance on Nationally Recognized Statistical Rating Organization Ratings,” and other regulatory guidance. Credit ratings are considered in our analysis only as a guide to the historical default rate associated with similarly-rated bonds. There have been no significant differences in our internal analyses compared with the ratings assigned by the third party credit rating agencies. The following table summarizes the amortized cost and fair values of general obligation and revenue bonds in the Company’s investment securities portfolio at the indicated dates, identifying the state in which the issuing municipality or agency operates for our largest geographic concentrations: Revenue and General Obligation Bonds by Location (dollars in thousands, unaudited) March 31, 2020 December 31, 2019 Amortized Fair Market Amortized Fair Market General obligation bonds Cost Value Cost Value State of issuance Texas $ 65,619 $ 68,182 $ 59,439 $ 61,519 Washington 23,445 24,579 23,392 24,313 California 23,873 24,996 23,882 25,030 Other (24 states) 54,712 56,580 49,326 50,725 Total general obligation bonds 167,649 174,337 156,039 161,587 Revenue bonds State of issuance Texas 7,068 7,320 6,035 6,298 Washington 2,787 2,927 1,737 1,856 California 364 379 365 380 Other (13 states) 17,697 18,203 17,724 18,144 Total revenue bonds 27,916 28,829 25,861 26,678 Total obligations of states and political subdivisions $ 195,565 $ 203,166 $ 181,900 $ 188,265 The revenue bonds in the Company’s investment securities portfolios were issued by government municipalities and agencies to fund public services such as utilities (water, sewer, and power), educational facilities, and general public and economic improvements. The primary sources of revenue for these bonds are delineated in the table below, which shows the amortized cost and fair market values for the largest revenue concentrations as of the indicated dates. Revenue Bonds by Type (dollars in thousands, unaudited) March 31, 2020 December 31, 2019 Amortized Fair Market Amortized Fair Market Revenue bonds Cost Value Cost Value Revenue source: Water $ 7,499 $ 7,774 $ 7,515 $ 7,775 Sewer 4,752 4,854 4,760 4,811 Lease 4,639 4,751 3,596 3,678 College & university 1,993 2,031 1,997 2,019 Sales tax 1,945 1,988 1,949 1,995 Electric & power 1,419 1,478 1,421 1,521 Other (8 and 7 sources, respectively) 5,669 5,953 4,623 4,879 Total revenue bonds $ 27,916 $ 28,829 $ 25,861 $ 26,678 Low-Income Housing Tax Credit (“LIHTC”) Fund Investments The Company has the ability to invest in limited partnerships which own housing projects that qualify for federal and/or California state tax credits, by mandating a specified percentage of low-income tenants for each project. The primary investment return comes from tax credits that flow through to investors. Because rent levels are lower than standard market rents and the projects are generally highly leveraged, each project also typically generates tax-deductible operating losses that are allocated to the limited partners for tax purposes. The Company made investment commitments to nine different LIHTC fund limited partnerships from 2001 through 2017, all of which were California-focused funds that help the Company meet its obligations under the Community Reinvestment Act. We utilize the cost method of accounting for our LIHTC fund investments, under which we initially record on our balance sheet an asset that represents the total cash expected to be invested over the life of the partnership. Any commitments or contingent commitments for future investment are reflected as a liability. The income statement reflects tax credits and any other tax benefits from these investments “below the line” within our income tax provision, while the initial book value of the investment is amortized on a straight-line basis as an offset to noninterest income, over the time period in which the tax credits and tax benefits are expected to be received. As of March 31, 2020 our total LIHTC investment book balance was $3.9 million, which includes $1.0 million in remaining commitments for additional capital contributions. There were $.1 million in tax credits derived from our LIHTC investments that were recognized during the three months ended March 31, 2020, and amortization expense of $.2 million associated with those investments was netted against pre-tax noninterest income for the same time period. Our LIHTC investments are evaluated annually for potential impairment, and we have concluded that the carrying value of the investments is stated fairly and is not impaired. |
Credit Quality and Nonperformin
Credit Quality and Nonperforming Assets | 3 Months Ended |
Mar. 31, 2020 | |
Credit Quality and Nonperforming Assets [Abstract] | |
Credit Quality and Nonperforming Assets | Note 10 – Credit Quality and Nonperforming Assets Credit Quality Classifications The Company monitors the credit quality of loans on a continuous basis using the regulatory and accounting classifications of pass, special mention, substandard and impaired to characterize the associated credit risk. Balances classified as “loss” are immediately charged off. The Company conforms to the following definitions for its risk classifications: · Pass : Larger non-homogeneous loans not meeting the risk rating definitions below, and smaller homogeneous loans that are not assessed on an individual basis. · Special mention : Loans which have potential issues that deserve the close attention of Management. If left uncorrected, those potential weaknesses could eventually diminish the prospects for full repayment of principal and interest according to the contractual terms of the loan agreement, or could result in deterioration of the Company’s credit position at some future date. · Substandard : Loans that have at least one clear and well-defined weakness that could jeopardize the ultimate recoverability of all principal and interest, such as a borrower displaying a highly leveraged position, unfavorable financial operating results and/or trends, uncertain repayment sources or an otherwise deteriorated financial condition. · Impaired : A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired loans include all nonperforming loans and restructured troubled debt (“TDRs”). A TDR may be nonperforming or performing, depending on its accrual status and the demonstrated ability of the borrower to comply with restructured terms (see “Troubled Debt Restructurings” section below for additional information on TDRs). Credit quality classifications for the Company’s loan balances were as follows, as of the dates indicated: Credit Quality Classifications (dollars in thousands, unaudited) March 31, 2020 Pass Special Substandard Impaired Total Real estate: 1-4 family residential construction $ 94,114 $ 464 $ — $ — $ 94,578 Other construction/land 87,861 2,219 — 522 90,602 1-4 family - closed end 182,832 3,523 169 3,110 189,634 Equity lines 42,010 2,084 61 4,381 48,536 Multi-family residential 57,891 — — 347 58,238 Commercial real estate - owner occupied 293,360 3,936 3,109 2,529 302,934 Commercial real estate - non-owner occupied 471,003 747 568 2,608 474,926 Farmland 140,307 1,047 130 256 141,740 Total real estate 1,369,378 14,020 4,037 13,753 1,401,188 Agricultural 49,030 164 — 5 49,199 Commercial and industrial 97,081 12,994 510 1,405 111,990 Mortgage warehouse 228,608 — — — 228,608 Consumer loans 6,579 70 15 376 7,040 Total gross loans and leases $ 1,750,676 $ 27,248 $ 4,562 $ 15,539 $ 1,798,025 December 31, 2019 Pass Special Substandard Impaired Total Real estate: 1-4 family residential construction $ 105,979 $ — $ — $ — $ 105,979 Other construction/land 90,761 98 — 554 91,413 1-4 family - closed end 194,572 2,425 164 3,020 200,181 Equity lines 43,111 1,995 72 4,421 49,599 Multi-family residential 54,104 — — 353 54,457 Commercial real estate - owner occupied 334,460 4,005 3,384 2,034 343,883 Commercial real estate - non-owner occupied 409,289 1,164 11 2,105 412,569 Farmland 142,594 1,048 132 259 144,033 Total real estate 1,374,870 10,735 3,763 12,746 1,402,114 Agricultural 47,814 217 — 5 48,036 Commercial and industrial 100,584 13,415 556 977 115,532 Mortgage warehouse 189,103 — — — 189,103 Consumer loans 7,245 85 25 425 7,780 Total gross loans and leases $ 1,719,616 $ 24,452 $ 4,344 $ 14,153 $ 1,762,565 Past Due and Nonperforming Assets Nonperforming assets are comprised of loans for which the Company is no longer accruing interest, and foreclosed assets. The Company’s foreclosed assets can include mobile homes and/or OREO, which consists of commercial and/or residential real estate properties acquired by foreclosure or similar means that the Company is offering or will offer for sale. Foreclosed assets totaled $.8 million at March 31, 2020, and December 31, 2019. Gross nonperforming loans totaled $7.4 million at March 31, 2020 and $5.7 million at December 31, 2019. Loans and leases are classified as nonperforming when reasonable doubt surfaces with regard to the ability of the Company to collect all principal and interest. At that point, we stop accruing interest on the loan or lease in question and reverse any previously-recognized interest to the extent that it is uncollected or associated with interest-reserve loans. Any asset for which principal or interest has been in default for 90 days or more is also placed on non-accrual status even if interest is still being received, unless the asset is both well secured and in the process of collection. An aging of the Company’s loan balances is presented in the following tables, by number of days past due as of the indicated dates: Loan Portfolio Aging (dollars in thousands, unaudited) March 31, 2020 30-59 Days 60-89 Days 90 Days Or (1) Total Current Total Financing Non-Accrual (2) Real estate: 1-4 family residential construction $ 464 $ — $ — $ 464 $ 94,114 $ 94,578 $ — Other construction/land — — — — 90,602 90,602 10 1-4 family - closed end 2,349 14 783 3,146 186,488 189,634 866 Equity lines 122 — 141 263 48,273 48,536 535 Multi-family residential — — — — 58,238 58,238 — Commercial real estate - owner occupied 196 — 837 1,033 301,901 302,934 1,941 Commercial real estate - non-owner occupied 633 — 2,127 2,760 472,166 474,926 2,608 Farmland 213 — — 213 141,527 141,740 257 Total real estate 3,977 14 3,888 7,879 1,393,309 1,401,188 6,217 Agricultural — — — — 49,199 49,199 — Commercial and industrial 617 358 195 1,170 110,820 111,990 1,116 Mortgage warehouse lines — — — — 228,608 228,608 — Consumer 42 8 — 50 6,990 7,040 18 Total gross loans and leases $ 4,636 $ 380 $ 4,083 $ 9,099 $ 1,788,926 $ 1,798,025 $ 7,351 (1) As of March 31, 2020 there were no loans over 90 days past due and still accruing. (2) Included in total financing receivables Loan Portfolio Aging (dollars in thousands, unaudited) December 31, 2019 30-59 Days 60-89 Days 90 Days Or (1) Total Current Total Financing Non-Accrual (2) Real estate: 1-4 family residential construction $ — $ — $ — $ — $ 105,979 $ 105,979 $ — Other construction/land 16 — — 16 91,397 91,413 31 1-4 family - closed end 485 380 659 1,524 198,657 200,181 741 Equity lines 177 10 78 265 49,334 49,599 480 Multi-family residential — — — — 54,457 54,457 — Commercial real estate - owner occupied 1,552 — 88 1,640 342,243 343,883 1,440 Commercial real estate - non-owner occupied 500 — 1,605 2,105 410,464 412,569 2,105 Farmland — — — — 144,033 144,033 258 Total real estate 2,730 390 2,430 5,550 1,396,564 1,402,114 5,055 Agricultural — — — — 48,036 48,036 — Commercial and industrial 160 215 — 375 115,157 115,532 651 Mortgage warehouse lines — — — — 189,103 189,103 — Consumer 55 12 2 69 7,711 7,780 31 Total gross loans and leases $ 2,945 $ 617 $ 2,432 $ 5,994 $ 1,756,571 $ 1,762,565 $ 5,737 (1) As of December 31, 2019 there were no loans over 90 days past due and still accruing. (2) Included in total financing receivables Troubled Debt Restructurings A loan that is modified for a borrower who is experiencing financial difficulty is classified as a troubled debt restructuring (TDR) if the modification constitutes a concession, excluding loan modifications that are COVID-19 related and made in accordance with the interagency guidance and the CARES Act as described in Note 3, above. At March 31, 2020, the Company had a total of $9. 2 million in TDRs, including $1.0 million in TDRs that were on non-accrual status. Generally, a non-accrual loan that has been modified as a TDR remains on non-accrual status for a period of at least six months to demonstrate the borrower’s ability to comply with the modified terms. However, performance prior to the modification, or significant events that coincide with the modification, could result in a loan’s return to accrual status after a shorter performance period or even at the time of loan modification. Regardless of the period of time that has elapsed, if the borrower’s ability to meet the revised payment schedule is uncertain then the loan will be kept on non-accrual status. Moreover, a TDR is generally considered to be in default when it appears that the customer will not likely be able to repay all principal and interest pursuant to restructured terms. The Company may agree to different types of concessions when modifying a loan or lease. The tables below summarize TDRs which were modified during the noted periods, by type of concession: Troubled Debt Restructurings, by Type of Loan Modification (dollars in thousands, unaudited) Three months ended March 31, 2020 Rate Modification Term Interest Only Modification Rate & Term Modification Term & Interest Modification Total Real estate: Other construction/land $ — $ — $ — $ — $ — $ — 1-4 family - closed-end — — — — — — Equity lines — — — — — — Multi-family residential — — — — — — Commercial real estate - owner occupied — — — — 86 86 Farmland — — — — — — Total real estate loans — — — — 86 86 Agricultural — — — — — — Commercial and industrial — — — — — — Consumer loans — — — — — — Total $ — $ — $ — $ — $ 86 $ 86 Three months ended March 31, 2019 Rate Modification Term Interest Only Rate & Term Modification Term & Interest Modification Total Real estate: Other construction/land $ — $ — $ — $ — $ — $ — 1-4 family - closed-end — — — — — — Equity lines — 100 — — — 100 Multi-family residential — — — — — — Commercial real estate - owner occupied — — — — — — Farmland — — — — — — Total real estate loans — 100 — — — 100 Agricultural — — — — — — Commercial and industrial 94 — — — — 94 Consumer loans — 9 — — — 9 Total $ 94 $ 109 $ — $ — $ — 203 Troubled Debt Restructurings (dollars in thousands, unaudited) Three months ended March 31, 2020 Pre- Post- Number of Outstanding Outstanding Reserve Reserve Real estate: Other construction/land 0 $ — $ — $ — $ — 1-4 family - closed-end 0 — — — — Equity lines 0 — — — — Multi-family residential 0 — — — — Commercial real estate - owner occupied 1 86 86 — — Farmland 0 — — — — Total real estate loans 86 86 — — Agricultural 0 — — — — Commercial and industrial 0 — — — — Consumer loans 0 — — — — Total $ 86 $ 86 $ — $ — (1) This represents the change in the ALLL reserve for these credits measured as the difference between the specific post-modification impairment reserve and the pre-modification reserve calculated under our general allowance for loan loss methodology. Three months ended March 31, 2019 Pre- Post- Number of Outstanding Outstanding Reserve Reserve Real estate: Other construction/land 0 $ — $ — $ — $ — 1-4 family - closed-end 0 — — — — Equity lines 1 100 100 — — Multi-family residential 0 — — — — Commercial real estate - owner occupied 0 — — — — Farmland 0 — — — — Total real estate loans 100 100 — — Agricultural 0 — — — — Commercial and industrial 2 94 94 (20) 1 Consumer loans 1 9 9 (2) — Total $ 203 $ 203 $ $(22) $ 1 (1) This represents the change in the ALLL reserve for these credits measured as the difference between the specific post-modification impairment reserve and the pre-modification reserve calculated under our general allowance for loan loss methodology. The Company had no finance receivables modified as TDRs within the previous twelve months that defaulted or were charged off during the nine-month periods ended March 31, 2020 and 2019. Purchased Credit Impaired Loans The Company may acquire loans which show evidence of credit deterioration since origination. These purchased credit impaired (“PCI”) loans are recorded at the amount paid, since there is no carryover of the seller’s allowance for loan losses. Potential losses on PCI loans subsequent to acquisition are recognized by an increase in the allowance for loan losses. PCI loans are accounted for individually or are aggregated into pools of loans based on common risk characteristics. The Company projects the amount and timing of expected cash flows, and expected cash receipts in excess of the amount paid for any such loans are recorded as interest income over the remaining life of the loan or pool of loans (accretable yield). The excess of contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Expected cash flows are periodically re-evaluated throughout the life of the loan or pool of loans. If the present value of the expected cash flows is determined at any time to be less than the carrying amount, a reserve is recorded. If the present value of the expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. Our acquisition of Santa Clara Valley Bank in 2014 included certain loans which have shown evidence of credit deterioration since origination, and for which it was probable at acquisition that all contractually required payments would not be collected. The carrying amount and unpaid principal balance of those PCI loans was as follows, as of the dates indicated: Purchased Credit Impaired Loans: (dollars in thousands, unaudited) March 31, 2020 Unpaid Principal Balance Carrying Value Real estate secured $ 86 $ 86 Total purchased credit impaired loans $ 86 $ $86 December 31, 2019 Unpaid Principal Balance Carrying Value Real estate secured $ 88 $ — Total purchased credit impaired loans $ — $ — There was no allowance for loan losses allocated for PCI loans as of March 31, 2020 and, December 31, 2019. There was no discount accretion recorded on PCI loans during the three months ended March 31, 2020. |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 3 Months Ended |
Mar. 31, 2020 | |
Provision for Loan and Lease Losses [Abstract] | |
Allowance for Loan and Lease Losses | Note 11 – Allowance for Loan and Lease Losses The Company’s allowance for loan and lease losses, a contra-asset, is established through a provision for loan and lease losses. The allowance is maintained at a level that is considered adequate to absorb probable losses on certain specifically identified impaired loans, as well as probable incurred losses inherent in the remaining loan portfolio. Specifically identifiable and quantifiable losses are immediately charged off against the allowance; recoveries are generally recorded only when cash payments are received subsequent to the charge off. We employ a systematic methodology, consistent with FASB guidelines on loss contingencies and impaired loans, for determining the appropriate level of the allowance for loan and lease losses and adjusting it to that level at least quarterly. Pursuant to our methodology, impaired loans and leases are individually analyzed and a criticized asset action plan is completed specifying the financial status of the borrower and, if applicable, the characteristics and condition of collateral and any associated liquidation plan. A specific loss allowance is created for each impaired loan, if necessary. The following tables disclose the unpaid principal balance, recorded investment, average recorded investment, and interest income recognized for impaired loans on our books as of the dates indicated. Balances are shown by loan type, and are further broken out by those that required an allowance and those that did not, with the associated allowance disclosed for those that required such. Included in the valuation allowance for impaired loans shown in the tables below are specific reserves allocated to TDRs, totaling $.6 million at March 31, 2020 and December 31, 2019. Impaired Loans (dollars in thousands, unaudited) March 31, 2020 Unpaid Principal (1) Recorded (2) Related Average Interest Income (3) With an allowance recorded Real estate: Other construction/land $ 641 $ 522 $ 154 $ 527 $ 12 1-4 family - closed-end 2,266 2,266 62 2,279 33 Equity lines 4,129 4,076 252 4,090 37 Multi-family residential 347 347 17 349 6 Commercial real estate- owner occupied 586 586 2 589 9 Commercial real estate- non-owner occupied — — — — — Farmland 237 237 3 237 — Total real estate 8,206 8,034 490 8,071 97 Agricultural 5 5 — 5 — Commercial and industrial 1,156 1,137 520 1,157 6 Consumer loans 414 376 98 385 8 Subtotal 9,781 9,552 1,108 9,618 111 With no related allowance recorded Real estate: Other construction/land — — — — — 1-4 family - closed-end 844 844 — 845 — Equity lines 305 305 — 307 1 Commercial real estate- owner occupied 2,062 1,942 — 1,950 — Commercial real estate- non-owner occupied 3,798 2,608 — 2,440 — Farmland 20 20 — 21 — Total real estate 7,029 5,719 — 5,563 1 Agricultural — — — — — Commercial and industrial 289 268 — 271 — Consumer loans — — — — — Subtotal 7,318 5,987 — 5,834 1 Total $ 17,099 $ 15,539 $ 1,108 $ 15,452 $ 112 (1) Contractual principal balance due from customer. (2) Principal balance on Company’s books, less any direct charge offs. (3) Interest income is recognized on performing balances on a regular accrual basis. Impaired Loans (dollars in thousands, unaudited) December 31, 2019 Unpaid Principal (1) Recorded (2) Related Average Interest Income (3) With an allowance recorded Real estate: 1-4 family residential construction $ — $ — $ — $ — $ — Other construction/land 656 537 157 563 32 1-4 family - closed-end 2,298 2,298 58 2,365 146 Equity lines 4,173 4,120 252 4,185 200 Multi-family residential 353 353 17 361 23 Commercial real estate- owner occupied 593 593 6 606 38 Commercial real estate- non-owner occupied — — — — — Farmland 237 237 3 256 — Total real estate 8,310 8,138 493 8,336 439 Agricultural 5 5 1 6 — Commercial and industrial 915 896 219 1,140 29 Consumer loans 464 425 114 469 35 Subtotal 9,694 9,464 827 9,951 503 With no related allowance recorded Real estate: 1-4 family residential construction $ — $ — $ — $ — $ — Other construction/land 52 17 — 577 4 1-4 family - closed-end 755 722 — 726 — Equity lines 326 301 — 310 5 Multi-family residential — — — — — Commercial real estate- owner occupied 1,560 1,440 — 1,477 — Commercial real estate- non-owner occupied 3,295 2,105 — 3,267 — Farmland 22 22 — 25 — Total real estate 6,010 4,607 — 6,382 9 Agricultural — — — — — Commercial and industrial 102 81 — 162 — Consumer loans 9 — — 140 15 Subtotal 6,121 4,688 — 6,684 24 Total $ 15,815 $ 14,152 $ 827 $ 16,635 $ 527 (1) Contractual principal balance due from customer. (2) Principal balance on Company’s books, less any direct charge offs. (3) Interest income is recognized on performing balances on a regular accrual basis. The specific loss allowance for an impaired loan generally represents the difference between the book value of the loan and either the fair value of underlying collateral less estimated disposition costs, or the loan’s net present value as determined by a discounted cash flow analysis. The discounted cash flow approach is typically used to measure impairment on loans for which it is anticipated that repayment will be provided from cash flows other than those generated solely by the disposition or operation of underlying collateral. However, historical loss rates may be used by the Company to determine a specific loss allowance if those rates indicate a higher potential reserve need than the discounted cash flow analysis. Any change in impairment attributable to the passage of time is accommodated by adjusting the loss allowance accordingly. For loans where repayment is expected to be provided by the disposition or operation of the underlying collateral, impairment is measured using the fair value of the collateral. If the collateral value, net of the expected costs of disposition, is less than the loan balance, then a specific loss reserve is established for the shortfall in collateral coverage. If the discounted collateral value is greater than or equal to the loan balance, no specific loss reserve is required. At the time a collateral-dependent loan is designated as nonperforming, a new appraisal is ordered and typically received within 30 to 60 days if a recent appraisal is not already available. We generally use external appraisals to determine the fair value of the underlying collateral for nonperforming real estate loans, although the Company’s licensed staff appraisers may update older appraisals based on current market conditions and property value trends. Until an updated appraisal is received, the Company uses the existing appraisal to determine the amount of the specific loss allowance that may be required. The specific loss allowance is adjusted, as necessary, once a new appraisal is received. Updated appraisals are generally ordered at least annually for collateral-dependent loans that remain impaired, and current appraisals were available or in process for 55% of the Company’s impaired real estate loan balances at March 31, 2020. Furthermore, the Company analyzes collateral-dependent loans on at least a quarterly basis, to determine if any portion of the recorded investment in such loans can be identified as uncollectible and would therefore constitute a confirmed loss. All amounts deemed to be uncollectible are promptly charged off against the Company’s allowance for loan and lease losses, with the loan then carried at the fair value of the collateral, as appraised, less estimated costs of disposition if applicable. Once a charge-off or write-down is recorded, it will not be restored to the loan balance on the Company’s accounting books. Our methodology also provides for the establishment of a “general” allowance for probable incurred losses inherent in loans and leases that are not impaired. Unimpaired loan balances are segregated by credit quality, and are then evaluated in pools with common characteristics. At the present time, pools are based on the same segmentation of loan types presented in our regulatory filings. While this methodology utilizes historical loss data and other measurable information, the credit classification of loans and the establishment of the allowance for loan and lease losses are both to some extent based on Management’s judgment and experience. Our methodology incorporates a variety of risk considerations, both quantitative and qualitative, in establishing an allowance for loan and lease losses that Management believes is appropriate at each reporting date. Quantitative information includes our historical loss experience, delinquency and charge-off trends, and current collateral values. Qualitative factors include the general economic environment in our markets and, in particular, the condition of the agricultural industry and other key industries. Lending policies and procedures (including underwriting standards), the experience and abilities of lending staff, the quality of loan review, credit concentrations (by geography, loan type, industry and collateral type), the rate of loan portfolio growth, and changes in legal or regulatory requirements are additional factors that are considered. The total general reserve established for probable incurred losses on unimpaired loans was $10.3 million at March 31, 2020. There were no material changes to the methodology used to determine our allowance for loan and lease losses during the three months ended March 31, 2020, although as outlined in Note 3 to the consolidated financial statements we will substantially update our methodology upon the implementation of the CECL accounting method under Financial Accounting Standards Board (FASB) Accounting Standards Update ASU 2016‑ 13 and related amendments, Financial Instruments – Credit Losses (Topic 326) when the earlier of the national emergency related to the outbreak of COVID-19 ends or December 31, 2020. Moreover, we will continue to enhance our methodology as needed in order to comply with regulatory and accounting requirements, keep pace with the size and complexity of our loan and lease portfolio, and respond to pressures created by external forces. We engage outside firms on a regular basis to assess our methodology and perform independent credit reviews of our loan and lease portfolio. In addition, the FDIC and the California DBO review the allowance for loan and lease losses as an integral part of their audit and examination processes. Management believes deferring the implementation of “CECL” and continuing with the current incurred loss methodology is appropriate given the impact of the economic uncertainty surrounding COVID-19 and related governmental and regulatory actions taken in response thereto, such as the stimulus provisions of the CARES Act. The tables that follow detail the activity in the allowance for loan and lease losses for the periods noted: Allowance for Credit Losses and Recorded Investment in Financing Receivables (dollars in thousands, unaudited) Three months ended March 31, 2020 Real Estate Agricultural Commercial and (1) Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 5,635 $ 193 $ 2,685 $ 1,278 $ 132 $ 9,923 Charge-offs — — (25) (617) — (642) Recoveries 72 — 28 272 — 372 Provision 1,608 42 66 204 (120) 1,800 Ending balance $ 7,315 $ 235 $ 2,754 $ 1,137 $ 12 $ 11,453 Reserves: Specific $ 490 $ — $ 520 $ 98 $ — $ 1,108 General 6,825 235 2,234 1,039 12 10,345 Ending balance $ 7,315 $ 235 $ 2,754 $ 1,137 $ 12 $ 11,453 Loans evaluated for impairment: Individually $ 13,753 $ 5 $ 1,405 $ 376 $ — $ 15,539 Collectively 1,387,435 49,194 339,193 6,664 — 1,782,486 Ending balance $ 1,401,188 $ 49,199 $ 340,598 $ 7,040 $ — $ 1,798,025 Year ended December 31, 2019 Real Estate Agricultural Commercial and (1) Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 5,831 $ 256 $ 2,394 $ 1,239 $ 30 $ 9,750 Charge-offs (1,190) — (1,274) (2,409) — (4,873) Recoveries 647 — 690 1,159 — 2,496 Provision 347 (63) 875 1,289 102 2,550 Ending balance $ 5,635 $ 193 $ 2,685 $ 1,278 $ 132 $ 9,923 Reserves: Specific $ 493 $ 1 $ 219 $ 114 $ — $ 827 General 5,142 192 2,466 1,164 132 9,096 Ending balance $ 5,635 $ 193 $ 2,685 $ 1,278 $ 132 $ 9,923 Loans evaluated for impairment: Individually $ 12,746 $ 5 $ 977 $ 425 $ — $ 14,153 Collectively 1,389,368 48,031 303,658 7,355 — 1,748,412 Ending balance $ 1,402,114 $ 48,036 $ 304,635 $ 7,780 $ — $ 1,762,565 Three months ended March 31, 2019 Real Estate Agricultural Commercial and (1) Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 5,831 $ 256 $ 2,394 $ 1,239 $ 30 $ 9,750 Charge-offs — — (579) (551) — (1,130) Recoveries 175 — 41 302 — 518 Provision 88 (37) 58 139 52 300 Ending balance $ 6,094 $ 219 $ 1,914 $ 1,129 $ 82 $ 9,438 Reserves: Specific $ 915 $ 1 $ 333 $ 180 $ — $ 1,429 General 5,179 218 1,581 949 82 8,009 Ending balance $ 6,094 $ 219 $ 1,914 $ 1,129 $ 82 $ 9,438 Loans evaluated for impairment: Individually $ 13,348 $ 6 $ 1,099 $ 789 $ — $ 15,242 Collectively 1,460,502 52,080 215,698 7,467 — 1,735,747 Ending balance $ 1,473,850 $ 52,086 $ 216,797 $ 8,256 $ — $ 1,750,989 (1) Includes mortgage warehouse lines. |
Operating Leases
Operating Leases | 3 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Operating Leases | Note 12 – Operating Leases We lease space under non-cancelable operating leases for 21 branch locations, three off-site ATM locations, one administrative building, one loan production office and a warehouse. Many of our leases include both lease (e.g., fixed payments including rent, taxes, and insurance costs) and non-lease components (e.g., common-area or other maintenance costs). Payments for taxes and insurance as well as non-lease components are not included in the accounting of the lease component, but are separately accounted for in occupancy expense. The Company recognized lease expense of $.6 million and $.5 million for the three month periods ended March 31, 2020 and 2019, respectively. Most leases include one or more renewal options available to exercise. The exercise of lease renewal options is typically at the Company’s sole discretion; therefore, the majority of renewals to extend the lease terms are not included in our right-of-use assets and lease liabilities as they are not reasonably certain of exercise. We regularly evaluate the renewal options and when they are reasonably certain of exercise, we include the renewal period in our lease term. As most of our leases do not provide an implicit rate, we used our incremental borrowing rate in determining the present value of the lease payments. There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the three months ended March 31, 2020. At March 31, 2020, the Company’s right-of-use assets and operating lease liabilities were $7.9 million and $8.5 million, respectively. The weighted average remaining lease term for the lease liabilities was 7.1 years, and the weighted average discount rate of remaining payments was 5.5 percent. There were no lease liabilities from new right-of-use assets obtained during the three months ended March 31, 2020. Cash paid on operating leases was $.4 million for the three months ended March 31, 2020. Maturities of our lease liabilities for all operating leases are as follows (dollars in thousands, unaudited): March 31, 2020 2020 (1) $ 1,677 2021 2,020 2022 1,571 2023 1,113 2024 749 Thereafter 3,196 Total 10,326 Less: present value discount (1,856) Lease liability (2) $ 8,470 (1) Contractual maturities for the nine months remaining in 2020. (2) Lease liability is included in other liabilities. The following table presents the future minimum rental payments under leases with terms in excess of one year as of December 31, 2019 presented in accordance with ASC Topic 840, “Leases”: December 31, 2019 2020 $ 2,235 2021 2,023 2022 1,574 2023 1,113 2024 749 Thereafter 3,196 Total undiscounted lease payments 10,890 |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Note 13 – Revenue Recognition. The Company utilizes the guidance found in ASU 2014‑09, Revenue from Contracts with Customers (ASC 606), when accounting for certain noninterest income. The core principle of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Sufficient information should be provided to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company’s revenue streams that are within the scope of and accounted for under Topic 606 include service charges on deposit accounts, debit card interchange fees, and fees levied for other services the Company provides its customers. The guidance does not apply to revenue associated with financial instruments such as loans and investments, and other noninterest income such as loan servicing fees and earnings on bank-owned life insurance, which are accounted for on an accrual basis under other provisions of GAAP. In total, approximately 21% of the Company’s noninterest revenue was outside of the scope of the ASC 606 for the three months ended March 31, 2020. All of the company’s revenue from contracts within the scope of ASC 606 is recognized as noninterest income. The following table presents the Company’s sources of noninterest income for the three-month periods ended March 31, 2020 and 2019. Items outside the scope of ASC 606 are noted as such (dollars in thousands, unaudited). For the three months ended March 31, 2020 2019 Non-interest income Service charges on deposits Returned item and overdraft fees $ 1,663 $ 1,567 Other service charges on deposits 1,520 1,376 Debit card interchange income 1,632 1,512 Loss on limited partnerships (1) (158) (450) Dividends on equity investments (1) 194 231 Unrealized gains recognized on equity investments (1) 447 — Net gains on sale of securities (1) — 6 Other (1) 808 1,664 Total non-interest income $ 6,106 $ 5,906 Non-interest expense Salaries and employee benefits (1) $ 10,172 $ 9,243 Occupancy expense (1) 2,327 2,361 Gain on sale of OREO 2 3 Other (1) 5,317 6,245 Total non-interest expense $ 17,818 $ 17,852 (1) Not within scope of ASC 606. Revenue streams are not related to contract with customers and are accounted for on an accrual basis under other provisions of GAAP. With regard to noninterest income associated with customer contracts, the Company has determined that transaction prices are fixed and performance obligations are satisfied as services are rendered, thus there is little or no judgment involved in the timing of revenue recognition under contracts that are within the scope of ASC 606. |
Financial Instruments with Of_2
Financial Instruments with Off-Balance-Sheet Risk (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Financial Instruments with Off Balance Sheet Risk [Abstract] | |
Schedule of Financial Instruments | The following financial instruments represent off‑balance‑sheet credit risk (dollars in thousands): March 31, 2020 December 31, 2019 Commitments to extend credit $ 453,849 $ 492,040 Standby letters of credit $ 9,067 $ 8,619 |
Fair Value Disclosures and Re_2
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Schedule of carrying amount and estimated fair values of financial instruments | Estimated fair values for the Company’s financial instruments are as follows, as of the dates noted: Fair Value of Financial Instruments (dollars in thousands, unaudited) March 31, 2020 Fair Value Measurements Carrying Quoted Prices in Significant Significant Total Financial assets: Cash and cash equivalents $ 106,992 $ 106,992 $ — $ — $ 106,992 Investment securities available for sale 620,154 — 620,154 — 620,154 Loans and leases, net held for investment 1,787,101 — — 1,834,373 1,834,373 Collateral dependent impaired loans 2,212 — 2,212 — 2,212 Financial liabilities: Deposits 2,179,391 704,700 1,474,482 — 2,179,182 Repurchase agreements 29,361 — 29,361 — 29,361 Short term borrowings 74,100 — 74,100 — 74,100 Subordinated debentures 34,990 — 29,911 — 29,911 December 31, 2019 Fair Value Measurements Carrying Quoted Prices in Significant Significant Total Financial assets: Cash and cash equivalents $ 80,077 $ 80,076 $ — $ — $ 80,076 Investment securities available for sale 600,799 — 600,799 — 600,799 Loans and leases, net held for investment 1,753,846 — — 1,761,461 1,761,461 Collateral dependent impaired loans 1,692 — 1,692 — 1,692 Financial liabilities: Deposits 2,168,374 690,950 1,477,497 — 2,168,447 Repurchase agreements 25,711 — 25,711 — 25,711 Short term borrowings 20,000 — 20,000 — 20,000 Subordinated debentures 34,945 — 30,564 — 30,564 |
Schedule of assets reported at fair value on a recurring basis | Assets reported at fair value on a recurring basis are summarized below: Fair Value Measurements – Recurring (dollars in thousands, unaudited) Fair Value Measurements at March 31, 2020, using Quoted Prices in Significant Significant Total Realized Securities: U.S. government agencies $ — $ 11,742 $ — $ 11,742 $ — Mortgage-backed securities — 405,246 — 405,246 — State and political subdivisions — 203,166 — 203,166 — Total available-for-sale securities $ — $ 620,154 $ — $ 620,154 $ — Fair Value Measurements at December 31, 2019, using Quoted Prices in Significant Significant Total Realized Securities: U.S. government agencies $ — $ 12,145 $ — $ 12,145 $ — Mortgage-backed securities — 400,389 — 400,389 — State and political subdivisions — 188,265 — 188,265 — Total available-for-sale securities $ — $ 600,799 $ — $ 600,799 $ — |
Schedule of assets reported at fair value on a nonrecurring basis | Assets reported at fair value on a nonrecurring basis are summarized below: Fair Value Measurements – Nonrecurring (dollars in thousands, unaudited) Fair Value Measurements at March 31, 2020, using Quoted Prices in Significant Significant Total Impaired loans Real estate: 1-4 family residential construction $ — $ — $ — $ — Other construction/land — — — — 1-4 family - closed-end — — — — Equity lines — — — — Multi-family residential — — — — Commercial real estate - owner occupied — 86 — 86 Commercial real estate - non-owner occupied — 2,126 — 2,126 Farmland — — — — Total real estate — 2,212 — 2,212 Agricultural — — — — Commercial and industrial — — — — Consumer loans — — — — Total impaired loans $ — $ 2,212 $ — $ 2,212 Foreclosed assets $ — $ 766 $ — $ 766 Total assets measured on a nonrecurring basis $ — $ 2,978 $ — $ 2,978 Fair Value Measurements at December 31, 2019, using Quoted Prices in Significant Significant Total Impaired loans Real estate: 1-4 family residential construction $ — $ — $ — $ — Other construction/land — — — — 1-4 family - closed-end — — — — Equity lines — — — — Multi-family residential — — — — Commercial real estate - owner occupied — 88 — 88 Commercial real estate - non-owner occupied — 1,605 — 1,605 Farmland — — — — Total real estate — 1,693 — 1,693 Agricultural — — — — Commercial and industrial — — — — Consumer loans — — — - Total impaired loans $ — $ 1,693 $ — $ 1,693 Foreclosed assets $ — $ 800 $ — $ 800 Total assets measured on a nonrecurring basis $ — $ 2,493 $ — $ 2,493 |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Value of Available-For-Sale Investment Securities | The amortized cost and estimated fair value of available-for-sale investment securities are as follows: Amortized Cost And Estimated Fair Value (dollars in thousands, unaudited) March 31, 2020 Amortized Gross Gross Estimated Fair U.S. government agencies $ 11,587 $ 204 $ (49) $ 11,742 Mortgage-backed securities 393,680 11,742 (176) 405,246 State and political subdivisions 195,565 7,623 (22) 203,166 Total securities $ 600,832 $ 19,569 $ (247) $ 620,154 December 31, 2019 Amortized Gross Gross Estimated Fair U.S. government agencies $ 12,125 $ 124 $ (104) $ 12,145 Mortgage-backed securities 398,353 3,354 (1,318) 400,389 State and political subdivisions 181,900 6,478 (113) 188,265 Total securities $ 592,378 $ 9,956 $ (1,535) $ 600,799 |
Realized Gain (Loss) on Investments | The table below summarizes the Company’s gross realized gains and losses as well as gross proceeds from the sales of securities, for the periods indicated: Investment Portfolio - Realized Gains/(Losses) (dollars in thousands, unaudited) Three months ended March 31, 2020 2019 Proceeds from sales, calls and maturities of securities available for sale $ 2,430 $ 16,654 Gross gains on sales, calls and maturities of securities available for sale — 94 Gross losses on sales, calls and maturities of securities available for sale — (88) Net gains on sale of securities available for sale $ $— $ $6 |
Information Pertaining to Investment Securities Aggregated by Investment Category and Length of Time that Individual Securities in a Continuous Loss Position | Gross unrealized losses on our investment securities as of the indicated dates are disclosed in the table below, categorized by investment type and by the duration of time that loss positions on individual securities have continuously existed (over or under twelve months). Investment Portfolio - Unrealized Losses (dollars in thousands, unaudited) March 31, 2020 Less than twelve months Twelve months or more Gross Fair Value Gross Fair Value U.S. government agencies $ (3) $ 1,199 $ (46) $ 2,587 Mortgage-backed securities (94) 7,717 (82) 8,717 State and political subdivisions (22) 5,791 — — Total $ (119) $ 14,707 $ (128) $ 11,304 December 31, 2019 Less than twelve months Twelve months or more Gross Fair Value Gross Fair Value U.S. government agencies $ (32) $ 3,240 $ (72) $ 2,689 Mortgage-backed securities (494) 100,518 (824) 78,538 State and political subdivisions (113) 19,762 — — Total $ (639) $ 123,520 $ (896) $ 81,227 |
Investments Classified by Contractual Maturity Date | Three months ended March 31, 2020 2019 Proceeds from sales, calls and maturities of securities available for sale $ 2,430 $ 16,654 Gross gains on sales, calls and maturities of securities available for sale — 94 Gross losses on sales, calls and maturities of securities available for sale — (88) Net gains on sale of securities available for sale $ $— $ $6 The amortized cost and estimated fair value of investment securities available-for-sale at March 31, 2020 and December 31, 2019 are shown below, grouped by the remaining time to contractual maturity dates. The expected life of investment securities may not be consistent with contractual maturity dates, since the issuers of the securities might have the right to call or prepay obligations with or without penalties. Estimated Fair Value of Contractual Maturities (dollars in thousands, unaudited) March 31, 2020 Amortized Cost Fair Value Maturing within one year $ 7,037 $ 7,158 Maturing after one year through five years 15,424 15,631 Maturing after five years through ten years 35,850 36,927 Maturing after ten years 148,842 155,192 Securities not due at a single maturity date: Mortgage-backed securities 194,774 199,613 Collateralized mortgage obligations 198,905 205,633 $ 600,832 $ 620,154 December 31, 2019 Amortized Cost Fair Value Maturing within one year $ 7,155 $ 7,244 Maturing after one year through five years 17,008 17,171 Maturing after five years through ten years 33,805 34,881 Maturing after ten years 136,057 141,114 Securities not due at a single maturity date: Mortgage-backed securities 189,554 190,488 Collateralized mortgage obligations 208,799 209,901 $ 592,378 $ 600,799 |
Summary of Amortized Cost and Fair Values of General Obligation and Revenue Bonds | The following table summarizes the amortized cost and fair values of general obligation and revenue bonds in the Company’s investment securities portfolio at the indicated dates, identifying the state in which the issuing municipality or agency operates for our largest geographic concentrations: Revenue and General Obligation Bonds by Location (dollars in thousands, unaudited) March 31, 2020 December 31, 2019 Amortized Fair Market Amortized Fair Market General obligation bonds Cost Value Cost Value State of issuance Texas $ 65,619 $ 68,182 $ 59,439 $ 61,519 Washington 23,445 24,579 23,392 24,313 California 23,873 24,996 23,882 25,030 Other (24 states) 54,712 56,580 49,326 50,725 Total general obligation bonds 167,649 174,337 156,039 161,587 Revenue bonds State of issuance Texas 7,068 7,320 6,035 6,298 Washington 2,787 2,927 1,737 1,856 California 364 379 365 380 Other (13 states) 17,697 18,203 17,724 18,144 Total revenue bonds 27,916 28,829 25,861 26,678 Total obligations of states and political subdivisions $ 195,565 $ 203,166 $ 181,900 $ 188,265 The revenue bonds in the Company’s investment securities portfolios were issued by government municipalities and agencies to fund public services such as utilities (water, sewer, and power), educational facilities, and general public and economic improvements. The primary sources of revenue for these bonds are delineated in the table below, which shows the amortized cost and fair market values for the largest revenue concentrations as of the indicated dates. Revenue Bonds by Type (dollars in thousands, unaudited) March 31, 2020 December 31, 2019 Amortized Fair Market Amortized Fair Market Revenue bonds Cost Value Cost Value Revenue source: Water $ 7,499 $ 7,774 $ 7,515 $ 7,775 Sewer 4,752 4,854 4,760 4,811 Lease 4,639 4,751 3,596 3,678 College & university 1,993 2,031 1,997 2,019 Sales tax 1,945 1,988 1,949 1,995 Electric & power 1,419 1,478 1,421 1,521 Other (8 and 7 sources, respectively) 5,669 5,953 4,623 4,879 Total revenue bonds $ 27,916 $ 28,829 $ 25,861 $ 26,678 |
Credit Quality and Nonperform_2
Credit Quality and Nonperforming Assets (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Credit Quality and Nonperforming Assets [Abstract] | |
Credit Quality Classifications for Loan Balances | Credit quality classifications for the Company’s loan balances were as follows, as of the dates indicated: Credit Quality Classifications (dollars in thousands, unaudited) March 31, 2020 Pass Special Substandard Impaired Total Real estate: 1-4 family residential construction $ 94,114 $ 464 $ — $ — $ 94,578 Other construction/land 87,861 2,219 — 522 90,602 1-4 family - closed end 182,832 3,523 169 3,110 189,634 Equity lines 42,010 2,084 61 4,381 48,536 Multi-family residential 57,891 — — 347 58,238 Commercial real estate - owner occupied 293,360 3,936 3,109 2,529 302,934 Commercial real estate - non-owner occupied 471,003 747 568 2,608 474,926 Farmland 140,307 1,047 130 256 141,740 Total real estate 1,369,378 14,020 4,037 13,753 1,401,188 Agricultural 49,030 164 — 5 49,199 Commercial and industrial 97,081 12,994 510 1,405 111,990 Mortgage warehouse 228,608 — — — 228,608 Consumer loans 6,579 70 15 376 7,040 Total gross loans and leases $ 1,750,676 $ 27,248 $ 4,562 $ 15,539 $ 1,798,025 December 31, 2019 Pass Special Substandard Impaired Total Real estate: 1-4 family residential construction $ 105,979 $ — $ — $ — $ 105,979 Other construction/land 90,761 98 — 554 91,413 1-4 family - closed end 194,572 2,425 164 3,020 200,181 Equity lines 43,111 1,995 72 4,421 49,599 Multi-family residential 54,104 — — 353 54,457 Commercial real estate - owner occupied 334,460 4,005 3,384 2,034 343,883 Commercial real estate - non-owner occupied 409,289 1,164 11 2,105 412,569 Farmland 142,594 1,048 132 259 144,033 Total real estate 1,374,870 10,735 3,763 12,746 1,402,114 Agricultural 47,814 217 — 5 48,036 Commercial and industrial 100,584 13,415 556 977 115,532 Mortgage warehouse 189,103 — — — 189,103 Consumer loans 7,245 85 25 425 7,780 Total gross loans and leases $ 1,719,616 $ 24,452 $ 4,344 $ 14,153 $ 1,762,565 |
Aging of Loan Balances by Number of Days Past Due | March 31, 2020 30-59 Days 60-89 Days 90 Days Or (1) Total Current Total Financing Non-Accrual (2) Real estate: 1-4 family residential construction $ 464 $ — $ — $ 464 $ 94,114 $ 94,578 $ — Other construction/land — — — — 90,602 90,602 10 1-4 family - closed end 2,349 14 783 3,146 186,488 189,634 866 Equity lines 122 — 141 263 48,273 48,536 535 Multi-family residential — — — — 58,238 58,238 — Commercial real estate - owner occupied 196 — 837 1,033 301,901 302,934 1,941 Commercial real estate - non-owner occupied 633 — 2,127 2,760 472,166 474,926 2,608 Farmland 213 — — 213 141,527 141,740 257 Total real estate 3,977 14 3,888 7,879 1,393,309 1,401,188 6,217 Agricultural — — — — 49,199 49,199 — Commercial and industrial 617 358 195 1,170 110,820 111,990 1,116 Mortgage warehouse lines — — — — 228,608 228,608 — Consumer 42 8 — 50 6,990 7,040 18 Total gross loans and leases $ 4,636 $ 380 $ 4,083 $ 9,099 $ 1,788,926 $ 1,798,025 $ 7,351 (1) As of March 31, 2020 there were no loans over 90 days past due and still accruing. (2) Included in total financing receivables Loan Portfolio Aging (dollars in thousands, unaudited) December 31, 2019 30-59 Days 60-89 Days 90 Days Or (1) Total Current Total Financing Non-Accrual (2) Real estate: 1-4 family residential construction $ — $ — $ — $ — $ 105,979 $ 105,979 $ — Other construction/land 16 — — 16 91,397 91,413 31 1-4 family - closed end 485 380 659 1,524 198,657 200,181 741 Equity lines 177 10 78 265 49,334 49,599 480 Multi-family residential — — — — 54,457 54,457 — Commercial real estate - owner occupied 1,552 — 88 1,640 342,243 343,883 1,440 Commercial real estate - non-owner occupied 500 — 1,605 2,105 410,464 412,569 2,105 Farmland — — — — 144,033 144,033 258 Total real estate 2,730 390 2,430 5,550 1,396,564 1,402,114 5,055 Agricultural — — — — 48,036 48,036 — Commercial and industrial 160 215 — 375 115,157 115,532 651 Mortgage warehouse lines — — — — 189,103 189,103 — Consumer 55 12 2 69 7,711 7,780 31 Total gross loans and leases $ 2,945 $ 617 $ 2,432 $ 5,994 $ 1,756,571 $ 1,762,565 $ 5,737 (1) As of December 31, 2019 there were no loans over 90 days past due and still accruing. (2) Included in total financing receivables |
Troubled Debt Restructurings, by Type of Loan Modification | Troubled Debt Restructurings, by Type of Loan Modification (dollars in thousands, unaudited) Three months ended March 31, 2020 Rate Modification Term Interest Only Modification Rate & Term Modification Term & Interest Modification Total Real estate: Other construction/land $ — $ — $ — $ — $ — $ — 1-4 family - closed-end — — — — — — Equity lines — — — — — — Multi-family residential — — — — — — Commercial real estate - owner occupied — — — — 86 86 Farmland — — — — — — Total real estate loans — — — — 86 86 Agricultural — — — — — — Commercial and industrial — — — — — — Consumer loans — — — — — — Total $ — $ — $ — $ — $ 86 $ 86 Three months ended March 31, 2019 Rate Modification Term Interest Only Rate & Term Modification Term & Interest Modification Total Real estate: Other construction/land $ — $ — $ — $ — $ — $ — 1-4 family - closed-end — — — — — — Equity lines — 100 — — — 100 Multi-family residential — — — — — — Commercial real estate - owner occupied — — — — — — Farmland — — — — — — Total real estate loans — 100 — — — 100 Agricultural — — — — — — Commercial and industrial 94 — — — — 94 Consumer loans — 9 — — — 9 Total $ 94 $ 109 $ — $ — $ — 203 Troubled Debt Restructurings (dollars in thousands, unaudited) Three months ended March 31, 2020 Pre- Post- Number of Outstanding Outstanding Reserve Reserve Real estate: Other construction/land 0 $ — $ — $ — $ — 1-4 family - closed-end 0 — — — — Equity lines 0 — — — — Multi-family residential 0 — — — — Commercial real estate - owner occupied 1 86 86 — — Farmland 0 — — — — Total real estate loans 86 86 — — Agricultural 0 — — — — Commercial and industrial 0 — — — — Consumer loans 0 — — — — Total $ 86 $ 86 $ — $ — (1) This represents the change in the ALLL reserve for these credits measured as the difference between the specific post-modification impairment reserve and the pre-modification reserve calculated under our general allowance for loan loss methodology. Three months ended March 31, 2019 Pre- Post- Number of Outstanding Outstanding Reserve Reserve Real estate: Other construction/land 0 $ — $ — $ — $ — 1-4 family - closed-end 0 — — — — Equity lines 1 100 100 — — Multi-family residential 0 — — — — Commercial real estate - owner occupied 0 — — — — Farmland 0 — — — — Total real estate loans 100 100 — — Agricultural 0 — — — — Commercial and industrial 2 94 94 (20) 1 Consumer loans 1 9 9 (2) — Total $ 203 $ 203 $ $(22) $ 1 (1) This represents the change in the ALLL reserve for these credits measured as the difference between the specific post-modification impairment reserve and the pre-modification reserve calculated under our general allowance for loan loss methodology. |
Schedule of Debtor Troubled Debt Restructuring, Subsequent Periods | The carrying amount and unpaid principal balance of those PCI loans was as follows, as of the dates indicated: Purchased Credit Impaired Loans: (dollars in thousands, unaudited) March 31, 2020 Unpaid Principal Balance Carrying Value Real estate secured $ 86 $ 86 Total purchased credit impaired loans $ 86 $ $86 December 31, 2019 Unpaid Principal Balance Carrying Value Real estate secured $ 88 $ — Total purchased credit impaired loans $ — $ — |
Allowance for Loan and Lease _2
Allowance for Loan and Lease Losses (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Provision for Loan and Lease Losses [Abstract] | |
Impaired Financing Receivables | Impaired Loans (dollars in thousands, unaudited) March 31, 2020 Unpaid Principal (1) Recorded (2) Related Average Interest Income (3) With an allowance recorded Real estate: Other construction/land $ 641 $ 522 $ 154 $ 527 $ 12 1-4 family - closed-end 2,266 2,266 62 2,279 33 Equity lines 4,129 4,076 252 4,090 37 Multi-family residential 347 347 17 349 6 Commercial real estate- owner occupied 586 586 2 589 9 Commercial real estate- non-owner occupied — — — — — Farmland 237 237 3 237 — Total real estate 8,206 8,034 490 8,071 97 Agricultural 5 5 — 5 — Commercial and industrial 1,156 1,137 520 1,157 6 Consumer loans 414 376 98 385 8 Subtotal 9,781 9,552 1,108 9,618 111 With no related allowance recorded Real estate: Other construction/land — — — — — 1-4 family - closed-end 844 844 — 845 — Equity lines 305 305 — 307 1 Commercial real estate- owner occupied 2,062 1,942 — 1,950 — Commercial real estate- non-owner occupied 3,798 2,608 — 2,440 — Farmland 20 20 — 21 — Total real estate 7,029 5,719 — 5,563 1 Agricultural — — — — — Commercial and industrial 289 268 — 271 — Consumer loans — — — — — Subtotal 7,318 5,987 — 5,834 1 Total $ 17,099 $ 15,539 $ 1,108 $ 15,452 $ 112 (1) Contractual principal balance due from customer. (2) Principal balance on Company’s books, less any direct charge offs. (3) Interest income is recognized on performing balances on a regular accrual basis. Impaired Loans (dollars in thousands, unaudited) December 31, 2019 Unpaid Principal (1) Recorded (2) Related Average Interest Income (3) With an allowance recorded Real estate: 1-4 family residential construction $ — $ — $ — $ — $ — Other construction/land 656 537 157 563 32 1-4 family - closed-end 2,298 2,298 58 2,365 146 Equity lines 4,173 4,120 252 4,185 200 Multi-family residential 353 353 17 361 23 Commercial real estate- owner occupied 593 593 6 606 38 Commercial real estate- non-owner occupied — — — — — Farmland 237 237 3 256 — Total real estate 8,310 8,138 493 8,336 439 Agricultural 5 5 1 6 — Commercial and industrial 915 896 219 1,140 29 Consumer loans 464 425 114 469 35 Subtotal 9,694 9,464 827 9,951 503 With no related allowance recorded Real estate: 1-4 family residential construction $ — $ — $ — $ — $ — Other construction/land 52 17 — 577 4 1-4 family - closed-end 755 722 — 726 — Equity lines 326 301 — 310 5 Multi-family residential — — — — — Commercial real estate- owner occupied 1,560 1,440 — 1,477 — Commercial real estate- non-owner occupied 3,295 2,105 — 3,267 — Farmland 22 22 — 25 — Total real estate 6,010 4,607 — 6,382 9 Agricultural — — — — — Commercial and industrial 102 81 — 162 — Consumer loans 9 — — 140 15 Subtotal 6,121 4,688 — 6,684 24 Total $ 15,815 $ 14,152 $ 827 $ 16,635 $ 527 (1) Contractual principal balance due from customer. (2) Principal balance on Company’s books, less any direct charge offs. (3) Interest income is recognized on performing balances on a regular accrual basis. |
Allowance for Credit Losses on Financing Receivables | Allowance for Credit Losses and Recorded Investment in Financing Receivables (dollars in thousands, unaudited) Three months ended March 31, 2020 Real Estate Agricultural Commercial and (1) Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 5,635 $ 193 $ 2,685 $ 1,278 $ 132 $ 9,923 Charge-offs — — (25) (617) — (642) Recoveries 72 — 28 272 — 372 Provision 1,608 42 66 204 (120) 1,800 Ending balance $ 7,315 $ 235 $ 2,754 $ 1,137 $ 12 $ 11,453 Reserves: Specific $ 490 $ — $ 520 $ 98 $ — $ 1,108 General 6,825 235 2,234 1,039 12 10,345 Ending balance $ 7,315 $ 235 $ 2,754 $ 1,137 $ 12 $ 11,453 Loans evaluated for impairment: Individually $ 13,753 $ 5 $ 1,405 $ 376 $ — $ 15,539 Collectively 1,387,435 49,194 339,193 6,664 — 1,782,486 Ending balance $ 1,401,188 $ 49,199 $ 340,598 $ 7,040 $ — $ 1,798,025 Year ended December 31, 2019 Real Estate Agricultural Commercial and (1) Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 5,831 $ 256 $ 2,394 $ 1,239 $ 30 $ 9,750 Charge-offs (1,190) — (1,274) (2,409) — (4,873) Recoveries 647 — 690 1,159 — 2,496 Provision 347 (63) 875 1,289 102 2,550 Ending balance $ 5,635 $ 193 $ 2,685 $ 1,278 $ 132 $ 9,923 Reserves: Specific $ 493 $ 1 $ 219 $ 114 $ — $ 827 General 5,142 192 2,466 1,164 132 9,096 Ending balance $ 5,635 $ 193 $ 2,685 $ 1,278 $ 132 $ 9,923 Loans evaluated for impairment: Individually $ 12,746 $ 5 $ 977 $ 425 $ — $ 14,153 Collectively 1,389,368 48,031 303,658 7,355 — 1,748,412 Ending balance $ 1,402,114 $ 48,036 $ 304,635 $ 7,780 $ — $ 1,762,565 Three months ended March 31, 2019 Real Estate Agricultural Commercial and (1) Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 5,831 $ 256 $ 2,394 $ 1,239 $ 30 $ 9,750 Charge-offs — — (579) (551) — (1,130) Recoveries 175 — 41 302 — 518 Provision 88 (37) 58 139 52 300 Ending balance $ 6,094 $ 219 $ 1,914 $ 1,129 $ 82 $ 9,438 Reserves: Specific $ 915 $ 1 $ 333 $ 180 $ — $ 1,429 General 5,179 218 1,581 949 82 8,009 Ending balance $ 6,094 $ 219 $ 1,914 $ 1,129 $ 82 $ 9,438 Loans evaluated for impairment: Individually $ 13,348 $ 6 $ 1,099 $ 789 $ — $ 15,242 Collectively 1,460,502 52,080 215,698 7,467 — 1,735,747 Ending balance $ 1,473,850 $ 52,086 $ 216,797 $ 8,256 $ — $ 1,750,989 |
Operating Leases (Tables)
Operating Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Schedule of Maturities for Operating Lease Liabilities - ASC 842 | March 31, 2020 2020 (1) $ 1,677 2021 2,020 2022 1,571 2023 1,113 2024 749 Thereafter 3,196 Total 10,326 Less: present value discount (1,856) Lease liability (2) $ 8,470 (1) Contractual maturities for the nine months remaining in 2020. (2) Lease liability is included in other liabilities. |
Schedule of Future Minimum Rental Payments - ASC 840 | December 31, 2019 2020 $ 2,235 2021 2,023 2022 1,574 2023 1,113 2024 749 Thereafter 3,196 Total undiscounted lease payments 10,890 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Sources of Non-interest Income | The following table presents the Company’s sources of noninterest income for the three-month periods ended March 31, 2020 and 2019. Items outside the scope of ASC 606 are noted as such (dollars in thousands, unaudited). For the three months ended March 31, 2020 2019 Non-interest income Service charges on deposits Returned item and overdraft fees $ 1,663 $ 1,567 Other service charges on deposits 1,520 1,376 Debit card interchange income 1,632 1,512 Loss on limited partnerships (1) (158) (450) Dividends on equity investments (1) 194 231 Unrealized gains recognized on equity investments (1) 447 — Net gains on sale of securities (1) — 6 Other (1) 808 1,664 Total non-interest income $ 6,106 $ 5,906 Non-interest expense Salaries and employee benefits (1) $ 10,172 $ 9,243 Occupancy expense (1) 2,327 2,361 Gain on sale of OREO 2 3 Other (1) 5,317 6,245 Total non-interest expense $ 17,818 $ 17,852 (1) Not within scope of ASC 606. Revenue streams are not related to contract with customers and are accounted for on an accrual basis under other provisions of GAAP. |
The Business of Sierra Bancorp
The Business of Sierra Bancorp - Branches (Details) - store | 3 Months Ended | |
Mar. 31, 2020 | Jan. 31, 1978 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Number of branches | 1 | |
Number of acquired banks | 4 | |
Number of full service branch offices | 40 |
The Business of Sierra Bancor_2
The Business of Sierra Bancorp - Additional Information (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Jan. 31, 1978 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Capital | $ 1,500 | ||
Assets | $ 2,670,469 | $ 2,593,819 | |
Cash, FDIC Insured Amount | $ 2,200,000 |
Current Accounting Developmen_2
Current Accounting Developments (Details) | Mar. 31, 2020 |
Accounting Standards Update 2016-13 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle | |
Change in Accounting Principle, Accounting Standards Update, Adopted | true |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Early Adoption | false |
Accounting Standards Update 2017-04 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle | |
Change in Accounting Principle, Accounting Standards Update, Adopted | true |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Early Adoption | false |
Accounting Standards Update 2018-13 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle | |
Change in Accounting Principle, Accounting Standards Update, Adopted | true |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Early Adoption | false |
Accounting Standards Update 2019-05 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle | |
Change in Accounting Principle, Accounting Standards Update, Adopted | true |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Early Adoption | false |
Share Based Compensation - Gene
Share Based Compensation - General Information (Details) | Mar. 31, 2020shares |
2007 Stock Option Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options outstanding | 327,610 |
2017 Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 850,000 |
Number of shares remained available for grant | 547,000 |
Share Based Compensation - Shar
Share Based Compensation - Share-based Compensation (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Payment Arrangement, Additional Disclosure [Abstract] | ||
Pre-tax charge | $ 0.1 | $ 0.2 |
Earnings per Share (Details)
Earnings per Share (Details) - shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Weighted Average Number of Shares Outstanding, Basic [Abstract] | ||
Weighted average shares outstanding | 15,262,252 | 15,311,154 |
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract] | ||
Weighted Average Number Diluted Shares Outstanding Adjustment | 77,765 | 136,593 |
Earnings Per Share, Diluted, Other Disclosures [Abstract] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 304,763 | 199,120 |
Financial Instruments with Of_3
Financial Instruments with Off-Balance-Sheet Risk - Off-Balance-Sheet Risk (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fair Value Disclosure Offbalance Sheet Risks Amount Asset | $ 453,849 | $ 492,040 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fair Value Disclosure Offbalance Sheet Risks Amount Asset | $ 9,067 | $ 8,619 |
Financial Instruments with Of_4
Financial Instruments with Off-Balance-Sheet Risk - Additional Information (Details) $ in Millions | Mar. 31, 2020USD ($) |
Financial Instruments with Off Balance Sheet Risk [Abstract] | |
Letters of Credit Outstanding, Amount | $ 105 |
Fair Value Disclosures and Re_3
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements - Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financial Assets: | ||
Securities available-for-sale | $ 620,154 | $ 600,799 |
Financial liabilities: | ||
Repurchase agreements | 29,361 | 25,711 |
Carrying Amount [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 106,992 | 80,077 |
Securities available-for-sale | 620,154 | 600,799 |
Loans and leases, net held for investment | 1,787,101 | 1,753,846 |
Collateral dependent impaired loans | 2,212 | 1,692 |
Financial liabilities: | ||
Deposits | 2,179,391 | 2,168,374 |
Repurchase agreements | 29,361 | 25,711 |
Short term borrowings | 74,100 | 20,000 |
Subordinated debentures | 34,990 | 34,945 |
Fair Value [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 106,992 | 80,076 |
Securities available-for-sale | 620,154 | 600,799 |
Loans and leases, net held for investment | 1,834,373 | 1,761,461 |
Collateral dependent impaired loans | 2,212 | 1,692 |
Financial liabilities: | ||
Deposits | 2,179,182 | 2,168,447 |
Repurchase agreements | 29,361 | 25,711 |
Short term borrowings | 74,100 | 20,000 |
Subordinated debentures | 29,911 | 30,564 |
Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 106,992 | 80,076 |
Securities available-for-sale | 0 | 0 |
Loans and leases, net held for investment | 0 | 0 |
Collateral dependent impaired loans | 0 | 0 |
Financial liabilities: | ||
Deposits | 704,700 | 690,950 |
Repurchase agreements | 0 | 0 |
Short term borrowings | 0 | 0 |
Subordinated debentures | 0 | 0 |
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 620,154 | 600,799 |
Loans and leases, net held for investment | 0 | 0 |
Collateral dependent impaired loans | 2,212 | 1,692 |
Financial liabilities: | ||
Deposits | 1,474,482 | 1,477,497 |
Repurchase agreements | 29,361 | 25,711 |
Short term borrowings | 74,100 | 20,000 |
Subordinated debentures | 29,911 | 30,564 |
Fair Value [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 0 | 0 |
Loans and leases, net held for investment | 1,834,373 | 1,761,461 |
Collateral dependent impaired loans | 0 | 0 |
Financial liabilities: | ||
Deposits | 0 | 0 |
Repurchase agreements | 0 | 0 |
Short term borrowings | 0 | 0 |
Subordinated debentures | $ 0 | $ 0 |
Fair Value Disclosures and Re_4
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements - Fair Value Measurements - Recurring (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 620,154 | $ 600,799 |
U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 11,742 | 12,145 |
Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 405,246 | 400,389 |
States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 203,166 | 188,265 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 620,154 | 600,799 |
Other-than-temporary impairment losses on equity securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 11,742 | 12,145 |
Other-than-temporary impairment losses on equity securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 405,246 | 400,389 |
Other-than-temporary impairment losses on equity securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 203,166 | 188,265 |
Other-than-temporary impairment losses on equity securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 620,154 | 600,799 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 11,742 | 12,145 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 405,246 | 400,389 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 203,166 | 188,265 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 0 | $ 0 |
Fair Value Disclosures and Re_5
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements - Fair Value Measurements - Nonrecurring (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | $ 15,539 | $ 14,152 |
Foreclosed assets | 766 | 800 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 2,212 | 1,693 |
Foreclosed assets | 766 | 800 |
Total assets measured on a nonrecurring basis | 2,978 | 2,493 |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 2,212 | 1,693 |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | Other construction/land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | Equity Lines [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 86 | 88 |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 2,126 | 1,605 |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | Farmland [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Agricultural Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial and Industrial Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Consumer Loans Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total assets measured on a nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | Other construction/land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | Equity Lines [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | Farmland [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Agricultural Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial and Industrial Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Consumer Loans Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 2,212 | 1,693 |
Foreclosed assets | 766 | 800 |
Total assets measured on a nonrecurring basis | 2,978 | 2,493 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 2,212 | 1,693 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | Other construction/land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | Equity Lines [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 86 | 88 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 2,126 | 1,605 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | Farmland [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Agricultural Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial and Industrial Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Consumer Loans Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total assets measured on a nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | Other construction/land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | Equity Lines [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | Farmland [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Agricultural Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial and Industrial Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Consumer Loans Sector [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | $ 0 | $ 0 |
Investments - Amortized Cost an
Investments - Amortized Cost and Estimated Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Amortized Cost | $ 600,832 | $ 592,378 |
Gross Unrealized Gains | 19,569 | 9,956 |
Gross Unrealized Losses | (247) | (1,535) |
Estimated Fair Value | 620,154 | 600,799 |
U.S. Government Agencies [Member] | ||
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Amortized Cost | 11,587 | 12,125 |
Gross Unrealized Gains | 204 | 124 |
Gross Unrealized Losses | (49) | (104) |
Estimated Fair Value | 11,742 | 12,145 |
Mortgage-backed Securities [Member] | ||
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Amortized Cost | 393,680 | 398,353 |
Gross Unrealized Gains | 11,742 | 3,354 |
Gross Unrealized Losses | (176) | (1,318) |
Estimated Fair Value | 405,246 | 400,389 |
States and Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Amortized Cost | 195,565 | 181,900 |
Gross Unrealized Gains | 7,623 | 6,478 |
Gross Unrealized Losses | (22) | (113) |
Estimated Fair Value | $ 203,166 | $ 188,265 |
Investments - Gross Unrealized
Investments - Gross Unrealized Losses - General Information (Details) - security | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions, total | 34 | 198 |
Investments - Gross Unrealize_2
Investments - Gross Unrealized Losses - Tabular Disclosure (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross Unrealized Losses, Less than twelve months | $ (119) | $ (639) |
Fair Value, Less than twelve months | 14,707 | 123,520 |
Gross Unrealized Losses, Twelve months or more | (128) | (896) |
Fair Value, Twelve months or more | 11,304 | 81,227 |
U.S. Government Agencies [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross Unrealized Losses, Less than twelve months | (3) | (32) |
Fair Value, Less than twelve months | 1,199 | 3,240 |
Gross Unrealized Losses, Twelve months or more | (46) | (72) |
Fair Value, Twelve months or more | 2,587 | 2,689 |
Mortgage-backed Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross Unrealized Losses, Less than twelve months | (94) | (494) |
Fair Value, Less than twelve months | 7,717 | 100,518 |
Gross Unrealized Losses, Twelve months or more | (82) | (824) |
Fair Value, Twelve months or more | 8,717 | 78,538 |
States and Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Gross Unrealized Losses, Less than twelve months | (22) | (113) |
Fair Value, Less than twelve months | $ 5,791 | $ 19,762 |
Investments - Realized Gains (L
Investments - Realized Gains (Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale [Abstract] | ||
Proceeds from sales of securities available for sale | $ 2,430 | $ 16,654 |
Debt Securities, Available-for-sale, Realized Gain (Loss) [Abstract] | ||
Gross gains on sales, calls and maturities of securities available for sale | 94 | |
Gross losses on sales, calls and maturities of securities available for sale | (88) | |
Net (losses) gains on sales and calls of securities | $ 6 |
Investments - Estimated Fair Va
Investments - Estimated Fair Value of Contractual Maturities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract] | ||
Maturing within one year, Amortized Cost | $ 7,037 | $ 7,155 |
Maturing after one year through five years, Amortized Cost | 15,424 | 17,008 |
Maturing after five years through ten years, Amortized Cost | 35,850 | 33,805 |
Maturing after ten years, Amortized Cost | 148,842 | 136,057 |
Investment securities not due at a single maturity date, Amortized Cost | 194,774 | |
Amortized Cost | 600,832 | 592,378 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract] | ||
Maturing within one year, Fair Value | 7,158 | 7,244 |
Maturing after one year through five years, Fair Value | 15,631 | 17,171 |
Maturing after five years through ten years, Fair Value | 36,927 | 34,881 |
Maturing after ten years, Fair Value | 155,192 | 141,114 |
Fair Value, Total | 620,154 | 600,799 |
States and Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract] | ||
Amortized Cost | 195,565 | 181,900 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract] | ||
Fair Value, Total | 203,166 | 188,265 |
Mortgage-backed Securities [Member] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract] | ||
Investment securities not due at a single maturity date, Amortized Cost | 189,554 | |
Amortized Cost | 393,680 | 398,353 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract] | ||
Investment securities not due at a single maturity date, Fair Value | 199,613 | 190,488 |
Fair Value, Total | 405,246 | 400,389 |
Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract] | ||
Investment securities not due at a single maturity date, Amortized Cost | 198,905 | 208,799 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract] | ||
Investment securities not due at a single maturity date, Fair Value | $ 205,633 | $ 209,901 |
Investments - Revenue and Gener
Investments - Revenue and General Obligation Bonds (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale | $ 620,154 | $ 600,799 |
States and Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale | 203,166 | 188,265 |
General Obligation Bonds [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale | 174,337 | $ 161,587 |
General Obligation Bonds [Member] | Lindsay, California Unified School District [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale | $ 3,900 |
Investments - Revenue and Gen_2
Investments - Revenue and General Obligation Bonds by Location (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 600,832 | $ 592,378 |
Fair Market Value | 620,154 | 600,799 |
States and Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 195,565 | 181,900 |
Fair Market Value | 203,166 | 188,265 |
General Obligation Bonds [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 167,649 | 156,039 |
Fair Market Value | 174,337 | 161,587 |
General Obligation Bonds [Member] | Texas [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 65,619 | 59,439 |
Fair Market Value | 68,182 | 61,519 |
General Obligation Bonds [Member] | California [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 23,445 | 23,392 |
Fair Market Value | 24,579 | 24,313 |
General Obligation Bonds [Member] | Washington [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 23,873 | 23,882 |
Fair Market Value | 24,996 | 25,030 |
General Obligation Bonds [Member] | Other [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 54,712 | 49,326 |
Fair Market Value | 56,580 | 50,725 |
Revenue Bonds [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 27,916 | 25,861 |
Fair Market Value | 28,829 | 26,678 |
Revenue Bonds [Member] | Texas [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 7,068 | 6,035 |
Fair Market Value | 7,320 | 6,298 |
Revenue Bonds [Member] | Utah [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 2,787 | 1,737 |
Fair Market Value | 2,927 | 1,856 |
Revenue Bonds [Member] | Indiana [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 364 | 365 |
Fair Market Value | 379 | 380 |
Revenue Bonds [Member] | Other [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 17,697 | 17,724 |
Fair Market Value | $ 18,203 | $ 18,144 |
Investments - Revenue Bonds by
Investments - Revenue Bonds by Type (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 600,832 | $ 592,378 |
Fair Market Value | 620,154 | 600,799 |
Lease [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,945 | 1,949 |
Fair Market Value | 1,988 | 1,995 |
Electricity [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,419 | 1,421 |
Fair Market Value | 1,478 | 1,521 |
States and Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 195,565 | 181,900 |
Fair Market Value | 203,166 | 188,265 |
Revenue Bonds [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 27,916 | 25,861 |
Fair Market Value | 28,829 | 26,678 |
Revenue Bonds [Member] | Water [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 7,499 | 7,515 |
Fair Market Value | 7,774 | 7,775 |
Revenue Bonds [Member] | College & University [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,993 | 1,997 |
Fair Market Value | 2,031 | 2,019 |
Revenue Bonds [Member] | Sales Tax [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 4,752 | 4,760 |
Fair Market Value | 4,854 | 4,811 |
Revenue Bonds [Member] | Sewer [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 4,639 | 3,596 |
Fair Market Value | 4,751 | 3,678 |
Revenue Bonds [Member] | Other Revenue Source [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 5,669 | 4,623 |
Fair Market Value | $ 5,953 | $ 4,879 |
Investments - Low-Income Housin
Investments - Low-Income Housing Tax Credit Fund Investments (Details) - Low Income Housing Tax Credit Fund Investments [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Schedule of Equity Method Investments [Line Items] | |
Investment, book balance | $ 3,900 |
Investment, remaining commitments for additional capital contributions | 1,000 |
Investment, tax credit | 100 |
Investment, amortization expense | $ 200 |
Credit Quality and Nonperform_3
Credit Quality and Nonperforming Assets - Credit Quality Classifications (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 |
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | $ 1,798,025 | $ 1,762,565 | $ 1,750,989 |
Real Estate Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 1,401,188 | 1,402,114 | 1,473,850 |
Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 94,578 | 105,979 | |
Real Estate Sector [Member] | Other construction/land [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 90,602 | 91,413 | |
Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 189,634 | 200,181 | |
Real Estate Sector [Member] | Equity Lines [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 48,536 | 49,599 | |
Real Estate Sector [Member] | Multi-Family Residential [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 58,238 | 54,457 | |
Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 302,934 | 343,883 | |
Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 474,926 | 412,569 | |
Real Estate Sector [Member] | Farmland [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 141,740 | 144,033 | |
Agricultural Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 49,199 | 48,036 | 52,086 |
Commercial and Industrial Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 111,990 | 115,532 | |
Mortgage Warehouse Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 228,608 | 189,103 | |
Consumer Loans Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 7,040 | 7,780 | $ 8,256 |
Pass [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 1,750,676 | 1,719,616 | |
Pass [Member] | Real Estate Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 1,369,378 | 1,374,870 | |
Pass [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 94,114 | 105,979 | |
Pass [Member] | Real Estate Sector [Member] | Other construction/land [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 87,861 | 90,761 | |
Pass [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 182,832 | 194,572 | |
Pass [Member] | Real Estate Sector [Member] | Equity Lines [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 42,010 | 43,111 | |
Pass [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 57,891 | 54,104 | |
Pass [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 293,360 | 334,460 | |
Pass [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 471,003 | 409,289 | |
Pass [Member] | Real Estate Sector [Member] | Farmland [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 140,307 | 142,594 | |
Pass [Member] | Agricultural Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 49,030 | 47,814 | |
Pass [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 97,081 | 100,584 | |
Pass [Member] | Mortgage Warehouse Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 228,608 | 189,103 | |
Pass [Member] | Consumer Loans Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 6,579 | 7,245 | |
Special Mention [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 27,248 | 24,452 | |
Special Mention [Member] | Real Estate Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 14,020 | 10,735 | |
Special Mention [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 464 | 0 | |
Special Mention [Member] | Real Estate Sector [Member] | Other construction/land [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 2,219 | 98 | |
Special Mention [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 3,523 | 2,425 | |
Special Mention [Member] | Real Estate Sector [Member] | Equity Lines [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 2,084 | 1,995 | |
Special Mention [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 0 | 0 | |
Special Mention [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 3,936 | 4,005 | |
Special Mention [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 747 | 1,164 | |
Special Mention [Member] | Real Estate Sector [Member] | Farmland [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 1,047 | 1,048 | |
Special Mention [Member] | Agricultural Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 164 | 217 | |
Special Mention [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 12,994 | 13,415 | |
Special Mention [Member] | Mortgage Warehouse Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 0 | 0 | |
Special Mention [Member] | Consumer Loans Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 70 | 85 | |
Substandard [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 4,562 | 4,344 | |
Substandard [Member] | Real Estate Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 4,037 | 3,763 | |
Substandard [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 0 | 0 | |
Substandard [Member] | Real Estate Sector [Member] | Other construction/land [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 0 | 0 | |
Substandard [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 169 | 164 | |
Substandard [Member] | Real Estate Sector [Member] | Equity Lines [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 61 | 72 | |
Substandard [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 0 | 0 | |
Substandard [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 3,109 | 3,384 | |
Substandard [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 568 | 11 | |
Substandard [Member] | Real Estate Sector [Member] | Farmland [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 130 | 132 | |
Substandard [Member] | Agricultural Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 0 | 0 | |
Substandard [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 510 | 556 | |
Substandard [Member] | Mortgage Warehouse Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 0 | 0 | |
Substandard [Member] | Consumer Loans Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 15 | 25 | |
Impaired [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 15,539 | 14,153 | |
Impaired [Member] | Real Estate Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 13,753 | 12,746 | |
Impaired [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 0 | 0 | |
Impaired [Member] | Real Estate Sector [Member] | Other construction/land [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 522 | 554 | |
Impaired [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 3,110 | 3,020 | |
Impaired [Member] | Real Estate Sector [Member] | Equity Lines [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 4,381 | 4,421 | |
Impaired [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 347 | 353 | |
Impaired [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 2,529 | 2,034 | |
Impaired [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 2,608 | 2,105 | |
Impaired [Member] | Real Estate Sector [Member] | Farmland [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 256 | 259 | |
Impaired [Member] | Agricultural Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 5 | 5 | |
Impaired [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 1,405 | 977 | |
Impaired [Member] | Mortgage Warehouse Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | 0 | 0 | |
Impaired [Member] | Consumer Loans Sector [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total gross loans and leases | $ 376 | $ 425 |
Credit Quality and Nonperform_4
Credit Quality and Nonperforming Assets - Past Due and Nonperforming Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Credit Quality and Nonperforming Assets [Abstract] | ||
Foreclosed assets | $ 766 | $ 800 |
Gross nonperforming loans | $ 7,351 | $ 5,737 |
Credit Quality and Nonperform_5
Credit Quality and Nonperforming Assets - Past Due and Nonaccrual Loans - Tabular Disclosure (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 |
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | $ 9,099 | $ 5,994 | |
Current | 1,788,926 | 1,756,571 | |
Total Financing Receivables | 1,798,025 | 1,762,565 | $ 1,750,989 |
Non-Accrual Loans | 7,351 | 5,737 | |
Real Estate Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 7,879 | 5,550 | |
Current | 1,393,309 | 1,396,564 | |
Total Financing Receivables | 1,401,188 | 1,402,114 | 1,473,850 |
Non-Accrual Loans | 6,217 | 5,055 | |
Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 464 | 0 | |
Current | 94,114 | 105,979 | |
Total Financing Receivables | 94,578 | 105,979 | |
Non-Accrual Loans | 0 | 0 | |
Real Estate Sector [Member] | Other construction/land [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 16 | |
Current | 90,602 | 91,397 | |
Total Financing Receivables | 90,602 | 91,413 | |
Non-Accrual Loans | 10 | 31 | |
Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 3,146 | 1,524 | |
Current | 186,488 | 198,657 | |
Total Financing Receivables | 189,634 | 200,181 | |
Non-Accrual Loans | 866 | 741 | |
Real Estate Sector [Member] | Equity Lines [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 263 | 265 | |
Current | 48,273 | 49,334 | |
Total Financing Receivables | 48,536 | 49,599 | |
Non-Accrual Loans | 535 | 480 | |
Real Estate Sector [Member] | Multi-Family Residential [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Current | 58,238 | 54,457 | |
Total Financing Receivables | 58,238 | 54,457 | |
Non-Accrual Loans | 0 | 0 | |
Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 1,033 | 1,640 | |
Current | 301,901 | 342,243 | |
Total Financing Receivables | 302,934 | 343,883 | |
Non-Accrual Loans | 1,941 | 1,440 | |
Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 2,760 | 2,105 | |
Current | 472,166 | 410,464 | |
Total Financing Receivables | 474,926 | 412,569 | |
Non-Accrual Loans | 2,608 | 2,105 | |
Real Estate Sector [Member] | Farmland [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 213 | 0 | |
Current | 141,527 | 144,033 | |
Total Financing Receivables | 141,740 | 144,033 | |
Non-Accrual Loans | 257 | 258 | |
Agricultural Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Current | 49,199 | 48,036 | |
Total Financing Receivables | 49,199 | 48,036 | 52,086 |
Non-Accrual Loans | 0 | 0 | |
Commercial and Industrial Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 1,170 | 375 | |
Current | 110,820 | 115,157 | |
Total Financing Receivables | 111,990 | 115,532 | |
Non-Accrual Loans | 1,116 | 651 | |
Mortgage Warehouse Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Current | 228,608 | 189,103 | |
Total Financing Receivables | 228,608 | 189,103 | |
Non-Accrual Loans | 0 | 0 | |
Consumer Loans Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 50 | 69 | |
Current | 6,990 | 7,711 | |
Total Financing Receivables | 7,040 | 7,780 | $ 8,256 |
Non-Accrual Loans | 18 | 31 | |
30-59 Days Past Due [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 4,636 | 2,945 | |
30-59 Days Past Due [Member] | Real Estate Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 3,977 | 2,730 | |
30-59 Days Past Due [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 464 | 0 | |
30-59 Days Past Due [Member] | Real Estate Sector [Member] | Other construction/land [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 16 | |
30-59 Days Past Due [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 2,349 | 485 | |
30-59 Days Past Due [Member] | Real Estate Sector [Member] | Equity Lines [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 122 | 177 | |
30-59 Days Past Due [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
30-59 Days Past Due [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 196 | 1,552 | |
30-59 Days Past Due [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 633 | 500 | |
30-59 Days Past Due [Member] | Real Estate Sector [Member] | Farmland [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 213 | 0 | |
30-59 Days Past Due [Member] | Agricultural Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
30-59 Days Past Due [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 617 | 160 | |
30-59 Days Past Due [Member] | Mortgage Warehouse Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
30-59 Days Past Due [Member] | Consumer Loans Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 42 | 55 | |
60-89 Days Past Due [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 380 | 617 | |
60-89 Days Past Due [Member] | Real Estate Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 14 | 390 | |
60-89 Days Past Due [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
60-89 Days Past Due [Member] | Real Estate Sector [Member] | Other construction/land [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
60-89 Days Past Due [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 14 | 380 | |
60-89 Days Past Due [Member] | Real Estate Sector [Member] | Equity Lines [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 10 | |
60-89 Days Past Due [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
60-89 Days Past Due [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
60-89 Days Past Due [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
60-89 Days Past Due [Member] | Real Estate Sector [Member] | Farmland [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
60-89 Days Past Due [Member] | Agricultural Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
60-89 Days Past Due [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 358 | 215 | |
60-89 Days Past Due [Member] | Mortgage Warehouse Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
60-89 Days Past Due [Member] | Consumer Loans Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 8 | 12 | |
90 Days Or More Past Due [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 4,083 | 2,432 | |
90 Days Or More Past Due [Member] | Real Estate Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 3,888 | 2,430 | |
90 Days Or More Past Due [Member] | Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
90 Days Or More Past Due [Member] | Real Estate Sector [Member] | Other construction/land [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
90 Days Or More Past Due [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 783 | 659 | |
90 Days Or More Past Due [Member] | Real Estate Sector [Member] | Equity Lines [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 141 | 78 | |
90 Days Or More Past Due [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
90 Days Or More Past Due [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 837 | 88 | |
90 Days Or More Past Due [Member] | Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 2,127 | 1,605 | |
90 Days Or More Past Due [Member] | Real Estate Sector [Member] | Farmland [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
90 Days Or More Past Due [Member] | Agricultural Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
90 Days Or More Past Due [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 195 | 0 | |
90 Days Or More Past Due [Member] | Mortgage Warehouse Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
90 Days Or More Past Due [Member] | Consumer Loans Sector [Member] | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | $ 0 | $ 2 |
Credit Quality and Nonperform_6
Credit Quality and Nonperforming Assets - Past Due and Nonaccrual Loans - Additional Information (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Credit Quality and Nonperforming Assets [Abstract] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | $ 0 | $ 0 |
Credit Quality and Nonperform_7
Credit Quality and Nonperforming Assets - Troubled Debt Restructurings - General Information (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Credit Quality and Nonperforming Assets [Abstract] | |
Troubled debt restructurings, total amount | $ 9,200 |
Troubled debt restructurings on non-accrual status | $ 1,000 |
Credit Quality and Nonperform_8
Credit Quality and Nonperforming Assets - Troubled Debt Restructurings, by Type of Loan Modification (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | $ 86 | $ 203 |
Real Estate Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 86 | 100 |
Real Estate Sector [Member] | Other construction/land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Real Estate Sector [Member] | Equity Lines [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 100 |
Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 86 | 0 |
Real Estate Sector [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Agricultural Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Commercial and Industrial Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 94 |
Consumer Loans Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 9 |
Troubled Debt Restructurings Rate Modifications [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 94 |
Troubled Debt Restructurings Rate Modifications [Member] | Real Estate Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate Modifications [Member] | Real Estate Sector [Member] | Other construction/land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate Modifications [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate Modifications [Member] | Real Estate Sector [Member] | Equity Lines [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate Modifications [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate Modifications [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate Modifications [Member] | Real Estate Sector [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate Modifications [Member] | Agricultural Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate Modifications [Member] | Commercial and Industrial Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 94 |
Troubled Debt Restructurings Rate Modifications [Member] | Consumer Loans Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 109 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 100 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Sector [Member] | Other construction/land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Sector [Member] | Equity Lines [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 100 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Sector [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Agricultural Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Commercial and Industrial Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Consumer Loans Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 9 |
Troubled Debt Restructurings Interest Only Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Sector [Member] | Other construction/land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Sector [Member] | Equity Lines [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Sector [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Agricultural Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Commercial and Industrial Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Consumer Loans Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Sector [Member] | Other construction/land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Sector [Member] | Equity Lines [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Sector [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Agricultural Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Commercial and Industrial Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Consumer Loans Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | $ 0 |
Troubled Debt Restructurings Term And Interest Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 86 | |
Troubled Debt Restructurings Term And Interest Modification [Member] | Real Estate Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 86 | |
Troubled Debt Restructurings Term And Interest Modification [Member] | Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | $ 86 |
Credit Quality and Nonperform_9
Credit Quality and Nonperforming Assets - Troubled Debt Restructurings - Tabular Disclosure (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020USD ($)item | Mar. 31, 2019USD ($)item | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 86 | $ 203 |
Post-Modification Outstanding Recorded Investment | 86 | 203 |
Reserve Difference | 0 | (22) |
Reserve | $ 0 | 1 |
Real Estate Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 86 | 100 |
Post-Modification Outstanding Recorded Investment | 86 | 100 |
Reserve Difference | 0 | 0 |
Reserve | $ 0 | $ 0 |
Real Estate Sector [Member] | Other construction/land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Reserve Difference | 0 | 0 |
Reserve | $ 0 | $ 0 |
Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Reserve Difference | 0 | 0 |
Reserve | $ 0 | $ 0 |
Real Estate Sector [Member] | Equity Lines [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 100 |
Post-Modification Outstanding Recorded Investment | 0 | 100 |
Reserve Difference | 0 | 0 |
Reserve | $ 0 | $ 0 |
Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Reserve Difference | 0 | 0 |
Reserve | $ 0 | $ 0 |
Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 86 | $ 0 |
Post-Modification Outstanding Recorded Investment | 86 | 0 |
Reserve Difference | 0 | 0 |
Reserve | $ 0 | $ 0 |
Real Estate Sector [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Reserve Difference | 0 | 0 |
Reserve | $ 0 | $ 0 |
Agricultural Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Reserve Difference | 0 | 0 |
Reserve | $ 0 | $ 0 |
Commercial and Industrial Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 94 |
Post-Modification Outstanding Recorded Investment | 0 | 94 |
Reserve Difference | 0 | (20) |
Reserve | $ 0 | $ 1 |
Consumer Loans Sector [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | item | 0 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 9 |
Post-Modification Outstanding Recorded Investment | 0 | 9 |
Reserve Difference | 0 | (2) |
Reserve | $ 0 | $ 0 |
Credit Quality and Nonperfor_10
Credit Quality and Nonperforming Assets - Purchased Credit Impaired Loans - Tabular Disclosure (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | $ 17,099 | $ 15,815 |
Impaired Financing Receivable, Carrying Value, Total | 15,539 | $ 14,152 |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 86 | |
Impaired Financing Receivable, Carrying Value, Total | 86 | |
Real Estate [Member] | Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 86 | |
Impaired Financing Receivable, Carrying Value, Total | $ 86 |
Credit Quality and Nonperfor_11
Credit Quality and Nonperforming Assets - Purchased Credit Impaired Loans - Additional Information (Details) | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Credit Quality and Nonperforming Assets [Abstract] | |
Certain loans acquired in transfer accounted for as debt securities, accretable yield, accretion | $ 0 |
Allowance for Loan and Lease _3
Allowance for Loan and Lease Losses - General Information (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Provision for Loan and Lease Losses [Abstract] | ||
Impaired Financing Receivable With Specific Reserves | $ 600 | $ 600 |
Percentage Of Impaired Loans With Appraisal | 97.00% | |
General | $ 10,300 |
Allowance for Loan and Lease _4
Allowance for Loan and Lease Losses - Individually Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | $ 9,781 | $ 9,694 |
With an Allowance Recorded Recorded Investment | 9,552 | 9,464 |
With an Allowance Recorded Related Allowance | 1,108 | 827 |
With an Allowance Recorded Average Recorded Investment | 9,618 | 9,951 |
With an Allowance Recorded Interest Income Recognized | 111 | 503 |
With no Related Allowance Recorded Unpaid Principal Balance | 7,318 | 6,121 |
With no Related Allowance Recorded Recorded Investment | 5,987 | 4,688 |
With no Related Allowance Recorded Average Recorded Investment | 5,834 | 6,684 |
With no Related Allowance Recorded Interest Income Recognized | 1 | 24 |
Individually impaired loans Unpaid Principal Balance | 17,099 | 15,815 |
Total impaired loans | 15,539 | 14,152 |
Individually impaired loans Average Recorded Investment | 15,452 | 16,635 |
Individually impaired loans Interest Income Recognized | 112 | 527 |
Real Estate Sector [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 8,206 | 8,310 |
With an Allowance Recorded Recorded Investment | 8,034 | 8,138 |
With an Allowance Recorded Related Allowance | 490 | 493 |
With an Allowance Recorded Average Recorded Investment | 8,071 | 8,336 |
With an Allowance Recorded Interest Income Recognized | 97 | 439 |
With no Related Allowance Recorded Unpaid Principal Balance | 7,029 | 6,010 |
With no Related Allowance Recorded Recorded Investment | 5,719 | 4,607 |
With no Related Allowance Recorded Average Recorded Investment | 5,563 | 6,382 |
With no Related Allowance Recorded Interest Income Recognized | 1 | 9 |
Real Estate Sector [Member] | 1-4 Family Residential Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 0 | |
With an Allowance Recorded Recorded Investment | 0 | |
With an Allowance Recorded Related Allowance | 0 | |
With an Allowance Recorded Average Recorded Investment | 0 | |
With an Allowance Recorded Interest Income Recognized | 0 | |
With no Related Allowance Recorded Unpaid Principal Balance | 0 | |
With no Related Allowance Recorded Recorded Investment | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 0 | |
With no Related Allowance Recorded Interest Income Recognized | 0 | |
Real Estate Sector [Member] | Other construction/land [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 641 | 656 |
With an Allowance Recorded Recorded Investment | 522 | 537 |
With an Allowance Recorded Related Allowance | 154 | 157 |
With an Allowance Recorded Average Recorded Investment | 527 | 563 |
With an Allowance Recorded Interest Income Recognized | 12 | 32 |
With no Related Allowance Recorded Unpaid Principal Balance | 0 | 52 |
With no Related Allowance Recorded Recorded Investment | 0 | 17 |
With no Related Allowance Recorded Average Recorded Investment | 0 | 577 |
With no Related Allowance Recorded Interest Income Recognized | 0 | 4 |
Real Estate Sector [Member] | 1-4 Family - Closed-End [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 2,266 | 2,298 |
With an Allowance Recorded Recorded Investment | 2,266 | 2,298 |
With an Allowance Recorded Related Allowance | 62 | 58 |
With an Allowance Recorded Average Recorded Investment | 2,279 | 2,365 |
With an Allowance Recorded Interest Income Recognized | 33 | 146 |
With no Related Allowance Recorded Unpaid Principal Balance | 844 | 755 |
With no Related Allowance Recorded Recorded Investment | 844 | 722 |
With no Related Allowance Recorded Average Recorded Investment | 845 | 726 |
With no Related Allowance Recorded Interest Income Recognized | 0 | 0 |
Real Estate Sector [Member] | Equity Lines [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 4,129 | 4,173 |
With an Allowance Recorded Recorded Investment | 4,076 | 4,120 |
With an Allowance Recorded Related Allowance | 252 | 252 |
With an Allowance Recorded Average Recorded Investment | 4,090 | 4,185 |
With an Allowance Recorded Interest Income Recognized | 37 | 200 |
With no Related Allowance Recorded Unpaid Principal Balance | 305 | 326 |
With no Related Allowance Recorded Recorded Investment | 305 | 301 |
With no Related Allowance Recorded Average Recorded Investment | 307 | 310 |
With no Related Allowance Recorded Interest Income Recognized | 1 | 5 |
Real Estate Sector [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 347 | 353 |
With an Allowance Recorded Recorded Investment | 347 | 353 |
With an Allowance Recorded Related Allowance | 17 | 17 |
With an Allowance Recorded Average Recorded Investment | 349 | 361 |
With an Allowance Recorded Interest Income Recognized | 6 | 23 |
With no Related Allowance Recorded Unpaid Principal Balance | 0 | |
With no Related Allowance Recorded Recorded Investment | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 0 | |
With no Related Allowance Recorded Interest Income Recognized | 0 | |
Real Estate Sector [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 586 | 593 |
With an Allowance Recorded Recorded Investment | 586 | 593 |
With an Allowance Recorded Related Allowance | 2 | 6 |
With an Allowance Recorded Average Recorded Investment | 589 | 606 |
With an Allowance Recorded Interest Income Recognized | 9 | 38 |
With no Related Allowance Recorded Unpaid Principal Balance | 2,062 | 1,560 |
With no Related Allowance Recorded Recorded Investment | 1,942 | 1,440 |
With no Related Allowance Recorded Average Recorded Investment | 1,950 | 1,477 |
With no Related Allowance Recorded Interest Income Recognized | 0 | 0 |
Real Estate Sector [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 0 | 0 |
With an Allowance Recorded Recorded Investment | 0 | 0 |
With an Allowance Recorded Related Allowance | 0 | 0 |
With an Allowance Recorded Average Recorded Investment | 0 | 0 |
With an Allowance Recorded Interest Income Recognized | 0 | 0 |
With no Related Allowance Recorded Unpaid Principal Balance | 3,798 | 3,295 |
With no Related Allowance Recorded Recorded Investment | 2,608 | 2,105 |
With no Related Allowance Recorded Average Recorded Investment | 2,440 | 3,267 |
With no Related Allowance Recorded Interest Income Recognized | 0 | 0 |
Real Estate Sector [Member] | Farmland [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 237 | 237 |
With an Allowance Recorded Recorded Investment | 237 | 237 |
With an Allowance Recorded Related Allowance | 3 | 3 |
With an Allowance Recorded Average Recorded Investment | 237 | 256 |
With an Allowance Recorded Interest Income Recognized | 0 | 0 |
With no Related Allowance Recorded Unpaid Principal Balance | 20 | 22 |
With no Related Allowance Recorded Recorded Investment | 20 | 22 |
With no Related Allowance Recorded Average Recorded Investment | 21 | 25 |
With no Related Allowance Recorded Interest Income Recognized | 0 | 0 |
Agricultural Sector [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 5 | 5 |
With an Allowance Recorded Recorded Investment | 5 | 5 |
With an Allowance Recorded Related Allowance | 0 | 1 |
With an Allowance Recorded Average Recorded Investment | 5 | 6 |
With an Allowance Recorded Interest Income Recognized | 0 | 0 |
With no Related Allowance Recorded Unpaid Principal Balance | 0 | 0 |
With no Related Allowance Recorded Recorded Investment | 0 | 0 |
With no Related Allowance Recorded Average Recorded Investment | 0 | 0 |
With no Related Allowance Recorded Interest Income Recognized | 0 | 0 |
Commercial and Industrial Sector [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 1,156 | 915 |
With an Allowance Recorded Recorded Investment | 1,137 | 896 |
With an Allowance Recorded Related Allowance | 520 | 219 |
With an Allowance Recorded Average Recorded Investment | 1,157 | 1,140 |
With an Allowance Recorded Interest Income Recognized | 6 | 29 |
With no Related Allowance Recorded Unpaid Principal Balance | 289 | 102 |
With no Related Allowance Recorded Recorded Investment | 268 | 81 |
With no Related Allowance Recorded Average Recorded Investment | 271 | 162 |
With no Related Allowance Recorded Interest Income Recognized | 0 | 0 |
Consumer Loans Sector [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With an Allowance Recorded Unpaid Principal Balance | 414 | 464 |
With an Allowance Recorded Recorded Investment | 376 | 425 |
With an Allowance Recorded Related Allowance | 98 | 114 |
With an Allowance Recorded Average Recorded Investment | 385 | 469 |
With an Allowance Recorded Interest Income Recognized | 8 | 35 |
With no Related Allowance Recorded Unpaid Principal Balance | 0 | 9 |
With no Related Allowance Recorded Recorded Investment | 0 | 0 |
With no Related Allowance Recorded Average Recorded Investment | 0 | 140 |
With no Related Allowance Recorded Interest Income Recognized | $ 0 | $ 15 |
Allowance for Loan and Lease _5
Allowance for Loan and Lease Losses - Allowance for Credit Losses - Roll Forward (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | $ 9,923 | $ 9,750 | $ 9,750 |
Charge-offs | (642) | (1,130) | (4,873) |
Recoveries | 372 | 518 | 2,496 |
Provision | 1,800 | 300 | 2,550 |
Ending balance | 11,453 | 9,438 | 9,923 |
Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 132 | 30 | 30 |
Provision | (120) | 52 | 102 |
Ending balance | 12 | 82 | 132 |
Real Estate Sector [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 5,635 | 5,831 | 5,831 |
Charge-offs | (1,190) | ||
Recoveries | 72 | 175 | 647 |
Provision | 1,608 | 88 | 347 |
Ending balance | 7,315 | 6,094 | 5,635 |
Agricultural Sector [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 193 | 256 | 256 |
Provision | 42 | (37) | (63) |
Ending balance | 235 | 219 | 193 |
Commercial and Industrial and Mortgage Warehouse Sector [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 2,685 | 2,394 | 2,394 |
Charge-offs | (25) | (579) | (1,274) |
Recoveries | 28 | 41 | 690 |
Provision | 66 | 58 | 875 |
Ending balance | 2,754 | 1,914 | 2,685 |
Consumer Loans Sector [Member] | |||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 1,278 | 1,239 | 1,239 |
Charge-offs | (617) | (551) | (2,409) |
Recoveries | 272 | 302 | 1,159 |
Provision | 204 | 139 | 1,289 |
Ending balance | $ 1,137 | $ 1,129 | $ 1,278 |
Allowance for Loan and Lease _6
Allowance for Loan and Lease Losses - Allowance for Credit Losses - Reserves (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Specific | $ 1,108 | $ 827 | $ 1,429 | |
General | 10,345 | 9,096 | 8,009 | |
Ending balance | 11,453 | 9,923 | 9,438 | $ 9,750 |
Unallocated [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
General | 12 | 132 | 82 | |
Ending balance | 12 | 132 | 82 | 30 |
Real Estate Sector [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Specific | 490 | 493 | 915 | |
General | 6,825 | 5,142 | 5,179 | |
Ending balance | 7,315 | 5,635 | 6,094 | 5,831 |
Agricultural Sector [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Specific | 1 | 1 | ||
General | 235 | 192 | 218 | |
Ending balance | 235 | 193 | 219 | 256 |
Commercial and Industrial and Mortgage Warehouse Sector [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Specific | 520 | 219 | 333 | |
General | 2,234 | 2,466 | 1,581 | |
Ending balance | 2,754 | 2,685 | 1,914 | 2,394 |
Consumer Loans Sector [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Specific | 98 | 114 | 180 | |
General | 1,039 | 1,164 | 949 | |
Ending balance | $ 1,137 | $ 1,278 | $ 1,129 | $ 1,239 |
Allowance for Loan and Lease _7
Allowance for Loan and Lease Losses - Activity in Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Individually | $ 15,539 | $ 14,153 | $ 15,242 |
Collectively | 1,782,486 | 1,748,412 | 1,735,747 |
Total Financing Receivables | 1,798,025 | 1,762,565 | 1,750,989 |
Real Estate Sector [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Individually | 13,753 | 12,746 | 13,348 |
Collectively | 1,387,435 | 1,389,368 | 1,460,502 |
Total Financing Receivables | 1,401,188 | 1,402,114 | 1,473,850 |
Agricultural Sector [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Individually | 5 | 5 | 6 |
Collectively | 49,194 | 48,031 | 52,080 |
Total Financing Receivables | 49,199 | 48,036 | 52,086 |
Commercial and Industrial and Mortgage Warehouse Sector [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Individually | 1,405 | 977 | 1,099 |
Collectively | 339,193 | 303,658 | 215,698 |
Total Financing Receivables | 340,598 | 304,635 | 216,797 |
Consumer Loans Sector [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Individually | 376 | 425 | 789 |
Collectively | 6,664 | 7,355 | 7,467 |
Total Financing Receivables | $ 7,040 | $ 7,780 | $ 8,256 |
Operating Leases - General Info
Operating Leases - General Information (Details) | Mar. 31, 2020Officestore |
Lessee Disclosure [Abstract] | |
Number of branch locations | 21 |
Number of ATM locations | 3 |
Number of administration offices | Office | 1 |
Operating Leases - Lease Expens
Operating Leases - Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Income and Expenses, Lessee [Abstract] | ||
Operating lease, expense | $ 600 | $ 500 |
Operating Leases - Assets and L
Operating Leases - Assets and Liabilities (Details) $ in Thousands | Mar. 31, 2020USD ($) |
Assets and Liabilities, Lessee [Abstract] | |
Right-of-use assets | $ 7,900 |
Operating lease liabilities | $ 8,470 |
Operating Leases - Lease Cost (
Operating Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Lessee Disclosure [Abstract] | ||
Weighted average lease term (in years) | 7 years 1 month 6 days | |
Weighted average discount rate (as a percent) | 5.50% | |
Lease liabilities from new right-of-use assets obtained during the year | $ 0 | |
Cash paid on operating leases | $ 400 |
Operating Leases - Schedule of
Operating Leases - Schedule of Future Undiscounted Lease Payments for Operating Leases (Details) $ in Thousands | Mar. 31, 2020USD ($) |
Leases [Abstract] | |
2019 | $ 1,677 |
2021 | 2,020 |
2022 | 1,571 |
2023 | 1,113 |
2024 | 749 |
Thereafter | 3,196 |
Total undiscounted lease payments | $ 10,326 |
Operating Leases - Lease Liabil
Operating Leases - Lease Liability (Details) $ in Thousands | Mar. 31, 2020USD ($) |
Operating Lease Liabilities, Gross Difference, Amount [Abstract] | |
Total undiscounted lease payments | $ 10,326 |
Less: imputed interest | (1,856) |
Operating lease liabilities | $ 8,470 |
Operating Leases - Schedule o_2
Operating Leases - Schedule of Future Minimum Rental Payments (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Leases [Abstract] | |
2019 | $ 2,235 |
2020 | 2,023 |
2021 | 1,574 |
2022 | 1,113 |
2023 | 749 |
Thereafter | 3,196 |
Total | $ 10,890 |
Revenue Recognition - General I
Revenue Recognition - General Information (Details) | 3 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Percentage of revenue outside of scope of ASC 606 (as a percent) | 21.00% |
Revenue Recognition - Non-inter
Revenue Recognition - Non-interest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Non-interest income | ||
Returned item and overdraft fees | $ 1,663 | $ 1,567 |
Other service charges on deposits | 1,520 | 1,376 |
Debit card interchange income | 1,632 | 1,512 |
Loss on limited partnerships | (158) | (450) |
Dividends on equity investments | 194 | 231 |
Unrealized gains recognized on equity investments | 447 | |
Net gains on sale of securities | 6 | |
Other | 808 | 1,664 |
Total non-interest income | 6,106 | 5,906 |
Non-interest expense | ||
Salaries and employee benefits | 10,172 | 9,243 |
Occupancy expense | 2,327 | 2,361 |
Gain on sale of foreclosed assets | 2 | (16) |
Gain on sale of OREO | 2 | 3 |
Other | 5,317 | 6,245 |
Total non-interest expense | $ 17,818 | $ 17,852 |