Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 31, 2022 | Apr. 27, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period Date | Mar. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 0-49677 | |
Entity Registrant Name | WEST BANCORPORATION, INC. | |
Entity Incorporation, State or Country Code | IA | |
Entity Tax Identification Number | 42-1230603 | |
Entity Address, Address Line One | 1601 22nd Street | |
Entity Address, City or Town | West Des Moines | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50266 | |
City Area Code | (515) | |
Local Phone Number | 222-2300 | |
Title of 12(b) Security | Common stock, no par value | |
Trading Symbol | WTBA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,631,413 | |
Entity Central Index Key | 0001166928 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 21,896 | $ 17,555 |
Federal funds sold | 122,359 | 175,270 |
Cash and cash equivalents | 144,255 | 192,825 |
Securities available for sale, fair value | 797,912 | 758,822 |
Federal Home Loan Bank stock, at cost | 10,269 | 9,965 |
Loans | 2,485,366 | 2,456,196 |
Allowance for loan losses | (27,623) | (28,364) |
Loans, net | 2,457,743 | 2,427,832 |
Premises and equipment, net | 40,898 | 34,568 |
Accrued interest receivable | 10,083 | 8,890 |
Bank-owned life insurance | 43,836 | 43,609 |
Deferred tax assets, net | 20,877 | 10,819 |
Other assets | 21,196 | 12,871 |
Total assets | 3,547,069 | 3,500,201 |
Deposits: | ||
Noninterest-bearing demand | 710,697 | 720,136 |
Interest-bearing demand | 554,235 | 548,242 |
Savings | 1,632,690 | 1,550,636 |
Time of $250 or more | 46,486 | 53,019 |
Other time | 147,144 | 143,972 |
Total deposits | 3,091,252 | 3,016,005 |
Federal funds purchased | 0 | 2,880 |
Subordinated notes, net | 20,468 | 20,465 |
Federal Home Loan Bank advances | 125,000 | 125,000 |
Long-term debt | 51,486 | 51,521 |
Accrued expenses and other liabilities | 22,383 | 24,002 |
Total liabilities | 3,310,589 | 3,239,873 |
COMMITMENTS AND CONTINGENCIES (NOTE 8) | ||
STOCKHOLDERS' EQUITY | ||
Preferred stock, $0.01 par value; authorized 50,000,000 shares; no shares issued and outstanding at March 31, 2022 and December 31, 2021 | 0 | 0 |
Common stock, no par value; authorized 50,000,000 shares; 16,631,413 and 16,554,846 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively | 3,000 | 3,000 |
Additional paid-in capital | 29,421 | 30,183 |
Retained earnings | 246,827 | 237,782 |
Accumulated other comprehensive loss | (42,768) | (10,637) |
Total stockholders' equity | 236,480 | 260,328 |
Total liabilities and stockholders' equity | $ 3,547,069 | $ 3,500,201 |
Preferred stock, par value ($ per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common Stock, No Par Value | $ 0 | $ 0 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 16,631,413 | 16,554,846 |
Common stock, shares outstanding | 16,631,413 | 16,554,846 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Interest income: | |||
Loans, including fees | $ 23,286 | $ 24,038 | |
Securities: | |||
Taxable | 2,889 | 1,645 | |
Tax-exempt | 858 | 558 | |
Federal funds sold | 82 | 69 | |
Total interest income | 27,115 | 26,310 | |
Interest expense: | |||
Deposits | 2,151 | 1,877 | |
Federal funds purchased | 0 | 1 | |
Subordinated notes | 248 | 249 | |
Federal Home Loan Bank advances | 630 | 983 | |
Long-term debt | 258 | 79 | |
Total interest expense | 3,287 | 3,189 | |
Net interest income | 23,828 | 23,121 | |
Provision for loan losses | [1] | (750) | 500 |
Net interest income after provision for loan losses | 24,578 | 22,621 | |
Noninterest income: | |||
Increase in cash value of bank-owned life insurance | 227 | 220 | |
Realized securities gains, net | 0 | 4 | |
Other income | 481 | 565 | |
Total noninterest income | 2,389 | 2,465 | |
Noninterest expense: | |||
Salaries and employee benefits | 6,298 | 5,608 | |
Occupancy | 1,086 | 1,228 | |
Data processing | 624 | 602 | |
FDIC insurance | 337 | 404 | |
Professional fees | 217 | 283 | |
Director fees | 168 | 191 | |
Other expenses | 1,932 | 1,955 | |
Total noninterest expense | 10,662 | 10,271 | |
Income before income taxes | 16,305 | 14,815 | |
Income taxes | 3,121 | 3,063 | |
Net income | $ 13,184 | $ 11,752 | |
Basic earnings per common share | $ 0.80 | $ 0.71 | |
Diluted earnings per common share | $ 0.78 | $ 0.70 | |
Service charges on deposit accounts [Member] | |||
Noninterest income: | |||
Revenue from contract with customer, including assessed tax | $ 580 | $ 582 | |
Debit card usage fees [Member] | |||
Noninterest income: | |||
Revenue from contract with customer, including assessed tax | 472 | 442 | |
Trust services [Member] | |||
Noninterest income: | |||
Revenue from contract with customer, including assessed tax | $ 629 | $ 652 | |
[1] | The negative provisions for the various segments are related to the decline in outstanding balances in each of those portfolio segments during the time periods disclosed and/or improvement in the credit quality factors related to those portfolio segments. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 13,184 | $ 11,752 |
Unrealized holding losses arising during the period | (54,595) | (8,338) |
Plus: reclassification adjustment for net gains realized in net income | 0 | (4) |
Income tax benefit | 13,813 | 2,102 |
Other comprehensive loss on securities | (40,782) | (6,240) |
Unrealized holding gains arising during the period | 10,536 | 7,763 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 1,045 | 4,970 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax | (2,930) | (3,208) |
Other comprehensive income on derivatives | 8,651 | 9,525 |
Total other comprehensive income (loss) | (32,131) | 3,285 |
Comprehensive income (loss) | $ (18,947) | $ 15,037 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance, Beginning at Dec. 31, 2020 | $ 223,695 | $ 0 | $ 3,000 | $ 28,823 | $ 203,718 | $ (11,846) |
Common Stock, Shares, Outstanding, Beginning at Dec. 31, 2020 | 16,469,272 | |||||
Stockholders' Equity [Roll Forward] | ||||||
Net income | 11,752 | 11,752 | ||||
Other comprehensive income (loss), net of tax | 3,285 | 3,285 | ||||
Cash dividends declared, common stock | (3,623) | (3,623) | ||||
Stock-based compensation costs | 633 | 633 | ||||
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, value | (1,213) | 0 | $ 0 | (1,213) | 0 | 0 |
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, shares | 71,109 | |||||
Balance, Ending at Mar. 31, 2021 | $ 234,529 | $ 3,000 | 28,243 | 211,847 | (8,561) | |
Common Stock, Shares, Outstanding, Ending at Mar. 31, 2021 | 16,540,381 | |||||
Stockholders' Equity [Roll Forward] | ||||||
Cash dividends declared per common share | $ 0.22 | |||||
Balance, Beginning at Dec. 31, 2021 | $ 260,328 | $ 3,000 | 30,183 | 237,782 | (10,637) | |
Common Stock, Shares, Outstanding, Beginning at Dec. 31, 2021 | 16,554,846 | 16,554,846 | ||||
Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 13,184 | 13,184 | 0 | |||
Other comprehensive income (loss), net of tax | (32,131) | (32,131) | ||||
Cash dividends declared, common stock | (4,139) | (4,139) | ||||
Stock-based compensation costs | 757 | 757 | ||||
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, value | (1,519) | $ 0 | (1,519) | |||
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, shares | 76,567 | |||||
Balance, Ending at Mar. 31, 2022 | $ 236,480 | $ 3,000 | $ 29,421 | $ 246,827 | $ (42,768) | |
Common Stock, Shares, Outstanding, Ending at Mar. 31, 2022 | 16,631,413 | 16,631,413 | ||||
Stockholders' Equity [Roll Forward] | ||||||
Cash dividends declared per common share | $ 0.25 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Cash Flows from Operating Activities: | |||
Net income | $ 13,184 | $ 11,752 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | [1] | (750) | 500 |
Net amortization and accretion | 666 | 382 | |
Securities gains, net | 0 | (4) | |
Stock-based compensation | 757 | 633 | |
Increase in cash value of bank-owned life insurance | (227) | (220) | |
Depreciation | 307 | 373 | |
Provision for deferred income taxes | 824 | 446 | |
Change in assets and liabilities: | |||
Increase in accrued interest receivable | (1,193) | (1,477) | |
(Increase) decrease in other assets | 249 | (2,883) | |
Increase in accrued expenses and other liabilities | 1,702 | 5,547 | |
Net cash provided by operating activities | 15,519 | 15,049 | |
Cash Flows from Investing Activities: | |||
Proceeds from sales of securities available for sale | 0 | 18,775 | |
Proceeds from maturities and calls of securities available for sale | 25,730 | 18,577 | |
Purchases of securities available for sale | (120,077) | (72,650) | |
Purchases of Federal Home Loan Bank stock | (384) | (856) | |
Proceeds from redemption of Federal Home Loan Bank stock | 80 | 165 | |
Net increase in loans | (29,161) | (23,352) | |
Purchases of premises and equipment | (6,951) | (963) | |
Net cash used in investing activities | (130,763) | (60,304) | |
Cash Flows from Financing Activities: | |||
Net increase (decrease) in deposits | 75,247 | (18,901) | |
Net decrease in federal funds purchased | (2,880) | (1,315) | |
Principal payments on long-term debt | (35) | (639) | |
Common stock dividends paid | (4,139) | (3,623) | |
Restricted stock units withheld for payroll taxes | (1,519) | (1,213) | |
Net cash provided by (used in) financing activities | 66,674 | (25,691) | |
Net decrease in cash and cash equivalents | (48,570) | (70,946) | |
Cash and Cash Equivalents | |||
Beginning | 192,825 | 396,435 | |
Ending | 144,255 | 325,489 | |
Supplemental Disclosures of Cash Flow Information: | |||
Cash payments for interest | 3,218 | 3,531 | |
Cash payments for income taxes | $ 0 | $ 0 | |
[1] | The negative provisions for the various segments are related to the decline in outstanding balances in each of those portfolio segments during the time periods disclosed and/or improvement in the credit quality factors related to those portfolio segments. |
Organization and Nature of Busi
Organization and Nature of Business and Summary of Significant Accounting Policies (Notes) | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | The accompanying unaudited consolidated financial statements have been prepared by West Bancorporation, Inc. (the Company) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in financial statements have been condensed or omitted pursuant to such rules and regulations. Although management believes that the disclosures are adequate to make the information presented understandable, it is suggested that these interim consolidated financial statements be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 24, 2022. In the opinion of management, the accompanying consolidated financial statements of the Company contain all adjustments necessary to fairly present its financial position as of March 31, 2022 and December 31, 2021 and net income, comprehensive income, changes in stockholders' equity and cash flows for the three months ended March 31, 2022 and 2021. The results for these interim periods may not be indicative of results for the entire year or for any other period. The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) established by the Financial Accounting Standards Board (FASB). References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification™ , sometimes referred to as the Codification or ASC. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term are the fair value of financial instruments and the allowance for loan losses. The accompanying unaudited consolidated financial statements include the accounts of the Company, West Bank and West Bank's special purpose subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. In accordance with GAAP, West Bancorporation Capital Trust I is recorded on the books of the Company using the equity method of accounting and is not consolidated. Current accounting developments : In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326). The amendments in this update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net carrying value at the amount expected to be collected on the financial assets. Under the update, the income statement will reflect the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount of financial assets. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. The allowance for credit losses for purchased financial assets with a more-than-insignificant amount of credit deterioration since origination that are measured at amortized cost basis is determined in a similar manner to other financial assets measured at amortized cost basis; however, the initial allowance for credit losses is added to the purchase price rather than being reported as a credit loss expense. Only subsequent changes in the allowance for credit losses are recorded as a credit loss expense for these assets. Off-balance-sheet arrangements such as commitments to extend credit, guarantees, and standby letters of credit that are not considered derivatives under ASC 815 and are not unconditionally cancellable are also within the scope of this update. Credit losses relating to available for sale debt securities should be recorded through an allowance for credit losses. In December 2019, the FASB issued ASU No. 2019-10, Financial Instruments-Credit Losses (Topic 326). This update amends the effective date of ASU No. 2016-13 for certain entities, including smaller reporting companies until fiscal years beginning after December 15, 2022, including interim periods within those fiscal periods. Early adoption is permitted. The one-time determination date for identifying as a smaller reporting company was November 15, 2019. The Company met the definition of a smaller reporting company as of that date and plans to adopt the standard with the amended effective date. The Company does not plan to early adopt this standard, but continues to work through implementation. The Company continues collecting and retaining loan and credit data and evaluating various loss estimation models. While we currently cannot reasonably estimate the impact of adopting this standard, we expect the impact will be influenced by the composition, characteristics and quality of our loan and securities portfolios, as well as the general economic conditions and forecasts as of the adoption date. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Financial Instruments - Credit Losses (ASC 326), Derivatives and Hedging (ASC 815), and Financial Instruments (ASC 825) . The amendments in the ASU improve the Codification by eliminating inconsistencies and providing clarifications. The amended guidance in this ASU related to the credit losses will be effective for the Company for fiscal years and interim periods beginning after December 15, 2022. The Company is currently evaluating the impact of the ASU on the Company’s consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings and Vintage Disclosures . The amendments in this ASU improve the usefulness of information provided to investors about certain loan refinancing, restructurings, and write-offs. The amendments eliminate the accounting guidance for troubled debt restructurings (TDRs) by creditors that have adopted ASU No. 2016-13. It also enhances disclosure requirements for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficult. Lastly, the amendments require that a public business entity disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases. The Company is currently evaluating the impact of the ASU on the Company's consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. It provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of the reference rate reform on the Company’s consolidated financial statements. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope . The amendments in this update refine the scope for certain optional expedients and exceptions for contract modifications and hedge accounting to apply to derivative contra cts and certain hedging relationships affected by the discounting transition. T he amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of the reference rate reform on the Company's consolidated financial statements. |
Earnings Per Common Share (Note
Earnings Per Common Share (Notes) | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share [Text Block] | Earnings per Common Share Basic earnings per common share are computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per common share reflect the potential dilution that could occur if the Company's outstanding restricted stock units were vested. The dilutive effect was computed using the treasury stock method, which assumes all stock-based awards were exercised and the hypothetical proceeds from exercise were used by the Company to purchase common stock at the average market price during the period. The incremental shares, to the extent they would have been dilutive, were included in the denominator of the diluted earnings per common share calculation. The calculations of earnings per common share and diluted earnings per common share for the three months ended March 31, 2022 and 2021 are presented in the following table. Three Months Ended March 31, (in thousands, except per share data) 2022 2021 Net income $ 13,184 $ 11,752 Weighted average common shares outstanding 16,561 16,475 Weighted average effect of restricted stock units outstanding 279 226 Diluted weighted average common shares outstanding 16,840 16,701 Basic earnings per common share $ 0.80 $ 0.71 Diluted earnings per common share $ 0.78 $ 0.70 Number of anti-dilutive common stock equivalents excluded from diluted earnings per share computation 18 67 |
Investment Securities (Notes)
Investment Securities (Notes) | 3 Months Ended |
Mar. 31, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment | Securities Available for Sale The following tables show the amortized cost, gross unrealized gains and losses, and fair value of securities available for sale, by security type as of March 31, 2022 and December 31, 2021. March 31, 2022 Amortized Gross Gross Fair Securities available for sale: State and political subdivisions $ 244,668 $ 384 $ (22,016) $ 223,036 Collateralized mortgage obligations (1) 382,410 84 (24,717) 357,777 Mortgage-backed securities (1) 180,495 13 (14,397) 166,111 Collateralized loan obligations 37,907 — (200) 37,707 Corporate notes 13,750 3 (472) 13,281 $ 859,230 $ 484 $ (61,802) $ 797,912 December 31, 2021 Amortized Gross Gross Fair Securities available for sale: State and political subdivisions $ 231,903 $ 3,161 $ (2,617) $ 232,447 Collateralized mortgage obligations (1) 325,406 1,627 (6,260) 320,773 Mortgage-backed securities (1) 157,607 167 (2,714) 155,060 Collateralized loan obligations 37,880 59 (157) 37,782 Corporate notes 12,750 62 (52) 12,760 $ 765,546 $ 5,076 $ (11,800) $ 758,822 (1) Collateralized mortgage obligations and mortgage-backed securities consist of residential and commercial mortgage pass-through securities and collateralized mortgage obligations guaranteed by FNMA, FHLMC, GNMA and SBA. Securities with an amortized cost of approximately $286,672 and $295,961 as of March 31, 2022 and December 31, 2021, respectively, were pledged to secure access to the Federal Reserve discount window, for public fund deposits, and for other purposes as required or permitted by law or regulation. The amortized cost and fair value of securities available for sale as of March 31, 2022, by contractual maturity, are shown below. Certain securities have call features that allow the issuer to call the securities prior to maturity. Expected maturities may differ from contractual maturities for collateralized mortgage obligations and mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, collateralized mortgage obligations and mortgage-backed securities are not included in the maturity categories within the following maturity summary. March 31, 2022 Amortized Cost Fair Value Due after five years through ten years $ 65,187 $ 63,263 Due after ten years 231,138 210,761 296,325 274,024 Collateralized mortgage obligations and mortgage-backed securities 562,905 523,888 $ 859,230 $ 797,912 The details of the sales of securities available for sale for the three months ended March 31, 2022 and 2021 are summarized in the following table. Three Months Ended March 31, 2022 2021 Proceeds from sales $ — $ 18,775 Gross gains on sales — 162 Gross losses on sales — 158 The following tables show the fair value and gross unrealized losses, aggregated by investment type and length of time that individual securities have been in a continuous loss position, as of March 31, 2022 and December 31, 2021. March 31, 2022 Less than 12 months 12 months or longer Total Fair Gross Fair Gross Fair Gross Securities available for sale: State and political subdivisions $ 164,711 $ (16,085) $ 34,130 $ (5,931) $ 198,841 $ (22,016) Collateralized mortgage obligations 336,765 (23,465) 10,131 (1,252) 346,896 (24,717) Mortgage-backed securities 125,926 (10,227) 38,310 (4,170) 164,236 (14,397) Collateralized loan obligations 37,707 (200) — — 37,707 (200) Corporate notes 12,278 (472) — — 12,278 (472) $ 677,387 $ (50,449) $ 82,571 $ (11,353) $ 759,958 $ (61,802) December 31, 2021 Less than 12 months 12 months or longer Total Fair Gross Fair Gross Fair Gross Securities available for sale: State and political subdivisions $ 121,574 $ (1,223) $ 33,894 $ (1,394) $ 155,468 $ (2,617) Collateralized mortgage obligations 241,320 (6,149) 2,352 (111) 243,672 (6,260) Mortgage-backed securities 140,168 (2,714) — — 140,168 (2,714) Collateralized loan obligations 22,821 (157) — — 22,821 (157) Corporate notes 4,198 (52) — — 4,198 (52) $ 530,081 $ (10,295) $ 36,246 $ (1,505) $ 566,327 $ (11,800) |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses (Notes) | 3 Months Ended |
Mar. 31, 2022 | |
Loans and Allowance for Loan Losses [Abstract] | |
Loans and Allowance for Loan Losses [Text Block] | Loans and Allowance for Loan Losses Loans consisted of the following segments as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Commercial $ 466,874 $ 492,815 Real estate: Construction, land and land development 388,424 359,258 1-4 family residential first mortgages 65,978 66,216 Home equity 9,213 8,422 Commercial 1,555,001 1,530,218 Consumer and other 4,068 3,797 2,489,558 2,460,726 Net unamortized fees and costs (4,192) (4,530) $ 2,485,366 $ 2,456,196 Included in commercial loans at March 31, 2022 and December 31, 2021, were $9,398 and $22,206, respectively, of loans originated in the Paycheck Protection Program (PPP). The PPP was established by the Coronavirus Aid, Relief and Economic Security Act (CARES Act), enacted on March 27, 2020, and expanded by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, enacted on December 27, 2020 and the American Rescue Plan Act, enacted on March 11, 2021, in response to the Coronavirus Disease 2019 (COVID-19) pandemic. The PPP is administered by the Small Business Administration (SBA). PPP loans may be forgiven by the SBA and are 100 percent guaranteed by the SBA. Therefore, no allowance for loan losses is allocated to PPP loans. Real estate loans of approximately $1,170,000 and $1,190,000 were pledged as security for Federal Home Loan Bank (FHLB) advances as of March 31, 2022 and December 31, 2021, respectively. Loans are stated at the principal amounts outstanding, net of unamortized loan fees and costs, with interest income recognized on the interest method based upon the terms of the loan. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the interest method. Loans are reported by the portfolio segments identified above and are analyzed by management on this basis. All loan policies identified below apply to all segments of the loan portfolio. Delinquencies are determined based on the payment terms of the individual loan agreements. The accrual of interest on past due and other impaired loans is generally discontinued at 90 days past due or when, in the opinion of management, the borrower may be unable to make all payments pursuant to contractual terms. Unless considered collectible, all interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income, if accrued in the current year, or charged to the allowance for loan losses, if accrued in the prior year. Generally, all payments received while a loan is on nonaccrual status are applied to the principal balance of the loan. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. A loan is classified as a TDR loan when the Company separately concludes that a borrower is experiencing financial difficulties and a concession is granted that would not otherwise be considered. Concessions may include a restructuring of the loan terms to alleviate the burden of the borrower's cash requirements, such as an extension of the payment terms beyond the original maturity date or a change in the interest rate charged. TDR loans with extended payment terms are accounted for as impaired until performance is established. A change to the interest rate would change the classification of a loan to a TDR loan if the restructured loan yields a rate that is below a market rate for that of a new loan with comparable risk. TDR loans with below-market rates are considered impaired until fully collected. TDR loans may also be reported as nonaccrual or 90 days past due if they are not performing per the restructured terms. Based upon its ongoing assessment of credit quality within the loan portfolio, the Company maintains a Watch List, which includes loans classified as Doubtful, Substandard and Watch according to the Company's classification criteria. These loans involve the anticipated potential for payment defaults or collateral inadequacies. A loan on the Watch List is considered impaired when management believes it is probable the Company will be unable to collect all contractual principal and interest payments due in accordance with the terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan's effective interest rate or, as a practical expedient, at the loan's observable market price or the fair value of the collateral if the loan is collateral dependent. The amount of impairment, if any, and any subsequent changes are included in the specific component of the allowance for loan losses. TDR loans totaled $8,458 and $8,599 as of March 31, 2022 and December 31, 2021 and were included in the nonaccrual category. There were no loan modifications considered to be TDR that occurred during the three months ended March 31, 2022 and 2021. A specific reserve of $2,500 related to TDR loans was recorded at March 31, 2022 and December 31, 2021. No TDR loans that were modified within the 12 months preceding March 31, 2022 and 2021 have subsequently had a payment default. A TDR loan is considered to have a payment default when it is past due 30 days or more. The following table summarizes the recorded investment in impaired loans by segment, broken down by loans with no related allowance for loan losses and loans with a related allowance and the amount of that allowance as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ — $ — $ — $ — $ — $ — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 342 342 — 349 349 — Home equity — — — — — — Commercial — — — — — — Consumer and other — — — — — — 342 342 — 349 349 — With an allowance recorded: Commercial — — — — — — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages — — — — — — Home equity — — — — — — Commercial 8,458 8,458 2,500 8,599 8,599 2,500 Consumer and other — — — — — — 8,458 8,458 2,500 8,599 8,599 2,500 Total: Commercial — — — — — — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 342 342 — 349 349 — Home equity — — — — — — Commercial 8,458 8,458 2,500 8,599 8,599 2,500 Consumer and other — — — — — — $ 8,800 $ 8,800 $ 2,500 $ 8,948 $ 8,948 $ 2,500 The balance of impaired loans at March 31, 2022 and December 31, 2021 was composed of two different borrowers. The Company has no commitments to advance additional funds on any of the impaired loans. The following table summarizes the average recorded investment and interest income recognized on impaired loans by segment for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ — Real estate: Construction, land and land development — — — — 1-4 family residential first mortgages 345 — 374 — Home equity — — — — Commercial — — — — Consumer and other — — — — 345 — 374 — With an allowance recorded: Commercial — — — — Real estate: Construction, land and land development — — — — 1-4 family residential first mortgages — — — — Home equity — — — — Commercial 8,529 — 15,817 — Consumer and other — — — — 8,529 — 15,817 — Total: Commercial — — — — Real estate: Construction, land and land development — — — — 1-4 family residential first mortgages 345 — 374 — Home equity — — — — Commercial 8,529 — 15,817 — Consumer and other — — — — $ 8,874 $ — $ 16,191 $ — The following tables provide an analysis of the payment status of the recorded investment in loans as of March 31, 2022 and December 31, 2021. March 31, 2022 30-59 60-89 90 Days Total Current Nonaccrual Loans Total Loans Commercial $ — $ — $ — $ — $ 466,874 $ — $ 466,874 Real estate: Construction, land and land development — — — — 388,424 — 388,424 1-4 family residential first mortgages — — — — 65,636 342 65,978 Home equity — — — — 9,213 — 9,213 Commercial — — — — 1,546,543 8,458 1,555,001 Consumer and other — — — — 4,068 — 4,068 Total $ — $ — $ — $ — $ 2,480,758 $ 8,800 $ 2,489,558 December 31, 2021 30-59 60-89 90 Days Total Current Nonaccrual Loans Total Commercial $ — $ — $ — $ — $ 492,815 $ — $ 492,815 Real estate: Construction, land and land development — — — — 359,258 — 359,258 1-4 family residential first mortgages — — — — 65,867 349 66,216 Home equity — — — — 8,422 — 8,422 Commercial — — — — 1,521,619 8,599 1,530,218 Consumer and other — — — — 3,797 — 3,797 Total $ — $ — $ — $ — $ 2,451,778 $ 8,948 $ 2,460,726 The following tables present the recorded investment in loans by credit quality indicator and loan segment as of March 31, 2022 and December 31, 2021. March 31, 2022 Pass Watch Substandard Doubtful Total Commercial $ 466,615 $ 259 $ — $ — $ 466,874 Real estate: Construction, land and land development 388,370 54 — — 388,424 1-4 family residential first mortgages 65,367 154 457 — 65,978 Home equity 9,213 — — — 9,213 Commercial 1,486,246 60,297 8,458 — 1,555,001 Consumer and other 4,068 — — — 4,068 Total $ 2,419,879 $ 60,764 $ 8,915 $ — $ 2,489,558 December 31, 2021 Pass Watch Substandard Doubtful Total Commercial $ 492,545 $ 270 $ — $ — $ 492,815 Real estate: Construction, land and land development 359,203 55 — — 359,258 1-4 family residential first mortgages 65,596 156 464 — 66,216 Home equity 8,422 — — — 8,422 Commercial 1,458,075 63,544 8,599 — 1,530,218 Consumer and other 3,797 — — — 3,797 Total $ 2,387,638 $ 64,025 $ 9,063 $ — $ 2,460,726 All loans are subject to the assessment of a credit quality indicator. Risk ratings are assigned for each loan at the time of approval, and they change as circumstances dictate during the term of the loan. The Company utilizes a 9-point risk rating scale as shown below, with ratings 1 - 5 included in the Pass column, rating 6 included in the Watch column, ratings 7 - 8 included in the Substandard column and rating 9 included in the Doubtful column. All loans classified as impaired that are included in the specific evaluation of the allowance for loan losses are included in the Substandard column along with all other loans with ratings of 7 - 8. Risk rating 1: The loan is secured by cash equivalent collateral. Risk rating 2: The loan is secured by properly margined marketable securities, bonds or cash surrender value of life insurance. Risk rating 3: The borrower is in strong financial condition and has strong debt service capacity. The loan is performing as agreed, and the financial characteristics and trends of the borrower exceed industry statistics. Risk rating 4: The borrower's financial condition is satisfactory and stable. The borrower has satisfactory debt service capacity, and the loan is well secured. The loan is performing as agreed, and the financial characteristics and trends fall in line with industry statistics. Risk rating 5: The borrower's financial condition is less than satisfactory. The loan is still generally paying as agreed, but strained cash flows may cause some slowness in payments. The collateral values adequately preclude loss on the loan. Financial characteristics and trends lag industry statistics. There may be noncompliance with loan covenants. Risk rating 6: The borrower's financial condition is deficient. Payment delinquencies may be more common. Collateral values still protect from loss, but margins are narrow. The loan may be reliant on secondary sources of repayment, including liquidation of collateral and guarantor support. Risk rating 7: The loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Well-defined weaknesses exist that jeopardize the liquidation of the debt. The Company is inadequately protected by the valuation or paying capacity of the collateral pledged. If deficiencies are not corrected, there is a distinct possibility that a loss will be sustained. Risk rating 8: All the characteristics of rating 7 exist with the added condition that the loan is past due more than 90 days or there is reason to believe the Company will not receive its principal and interest according to the terms of the loan agreement. Risk rating 9: All the weaknesses inherent in risk ratings 7 and 8 exist with the added condition that collection or liquidation, on the basis of currently known facts, conditions and values, is highly questionable and improbable. A loan reaching this category would most likely be charged off. Credit quality indicators for all loans and the Company's risk rating process are dynamic and updated on a continuous basis. Risk ratings are updated as circumstances that could affect the repayment of an individual loan are brought to management's attention through an established monitoring process. Individual bankers initiate changes as appropriate for ratings 1 through 5, and changes for ratings 6 through 9 are initiated via communications with management. The likelihood of loss increases as the risk rating increases and is generally preceded by a loan appearing on the Watch List, which consists of all loans with a risk rating of 6 or worse. Written action plans with firm target dates for resolution of identified problems are maintained and reviewed on a quarterly basis for all segments of loans included on the Watch List. In addition to the Company's internal credit monitoring practices and procedures, an outsourced independent credit review function is in place to further assess assigned internal risk classifications and monitor compliance with internal lending policies and procedures. In all portfolio segments, the primary risks are that a borrower's income stream diminishes to the point that the borrower is not able to make scheduled principal and interest payments and any collateral securing the loan declines in value. The risk of declining collateral values is present for most types of loans. Commercial loans consist primarily of loans to businesses for various purposes, including revolving lines to finance current operations, inventory and accounts receivable, and capital expenditure loans to finance equipment and other fixed assets. These loans generally have short maturities, have either adjustable or fixed interest rates, and are either unsecured or secured by inventory, accounts receivable and/or fixed assets. For commercial loans, the primary source of repayment is from the operation of the business. Real estate loans include various types of loans for which the Company holds real property as collateral, and consist of loans on commercial properties and single and multifamily residences. Real estate loans are typically structured to mature or reprice every five to ten years with payments based on amortization periods up to 30 years. The majority of construction loans are to contractors and developers for construction of commercial buildings or residential real estate. These loans typically have maturities of up to 24 months. The Company's loan policy includes minimum appraisal and other credit guidelines. Consumer loans include loans extended to individuals for household, family and other personal expenditures not secured by real estate. The majority of the Company's consumer lending is for vehicles, consolidation of personal debts and household improvements. The repayment source for consumer loans, including 1-4 family residential and home equity loans, is typically wages. The allowance for loan losses is established through a provision for loan losses charged to expense. The allowance is an amount that management believes will be adequate to absorb probable losses on existing loans based on an evaluation of the collectability of loans and prior loss experience. This evaluation also takes into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, the review of specific problem loans, and the current economic conditions that may affect the borrower's ability to pay. Loans are charged-off against the allowance for loan losses when management believes that collectability of the principal is unlikely. While management uses the best information available to make its evaluations, future adjustments to the allowance may be necessary if there are significant changes in economic conditions or the other factors relied upon. The allowance for loan losses consists of specific and general components. The specific component relates to loans that meet the definition of impaired. The general component covers the remaining loans and is based on historical loss experience adjusted for qualitative factors such as delinquency trends, loan growth, economic elements and local market conditions. These same policies are applied to all segments of loans. In addition, regulatory agencies, as an integral part of their examination processes, periodically review the Company's allowance for loan losses, and may require the Company to make additions to the allowance based on their judgment about information available to them at the time of their examinations. The following tables detail the changes in the allowance for loan losses by segment for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 4,776 $ 3,646 $ 339 $ 91 $ 19,466 $ 46 $ 28,364 Charge-offs — — — — — — — Recoveries 4 — 1 1 3 — 9 Provision (1) (72) 352 8 9 (1,052) 5 (750) Ending balance $ 4,708 $ 3,998 $ 348 $ 101 $ 18,417 $ 51 $ 27,623 Three Months Ended March 31, 2021 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 4,718 $ 2,634 $ 360 $ 114 $ 21,535 $ 75 $ 29,436 Charge-offs — — — — — — — Recoveries 67 — 1 1 3 — 72 Provision (1) (167) 109 69 (25) 519 (5) 500 Ending balance $ 4,618 $ 2,743 $ 430 $ 90 $ 22,057 $ 70 $ 30,008 (1) The negative provisions for the various segments are related to the decline in outstanding balances in each of those portfolio segments during the time periods disclosed and/or improvement in the credit quality factors related to those portfolio segments. The following tables present a breakdown of the allowance for loan losses disaggregated on the basis of impairment analysis method by segment as of March 31, 2022 and December 31, 2021. March 31, 2022 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ 2,500 $ — $ 2,500 Collectively evaluated for impairment 4,708 3,998 348 101 15,917 51 25,123 Total $ 4,708 $ 3,998 $ 348 $ 101 $ 18,417 $ 51 $ 27,623 December 31, 2021 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ 2,500 $ — $ 2,500 Collectively evaluated for impairment 4,776 3,646 339 91 16,966 46 25,864 Total $ 4,776 $ 3,646 $ 339 $ 91 $ 19,466 $ 46 $ 28,364 The following tables present the recorded investment in loans, exclusive of unamortized fees and costs, disaggregated on the basis of impairment analysis method by segment as of March 31, 2022 and December 31, 2021. March 31, 2022 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ 342 $ — $ 8,458 $ — $ 8,800 Collectively evaluated for impairment 466,874 388,424 65,636 9,213 1,546,543 4,068 2,480,758 Total $ 466,874 $ 388,424 $ 65,978 $ 9,213 $ 1,555,001 $ 4,068 $ 2,489,558 December 31, 2021 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ 349 $ — $ 8,599 $ — $ 8,948 Collectively evaluated for impairment 492,815 359,258 65,867 8,422 1,521,619 3,797 2,451,778 Total $ 492,815 $ 359,258 $ 66,216 $ 8,422 $ 1,530,218 $ 3,797 $ 2,460,726 |
Derivatives (Notes)
Derivatives (Notes) | 3 Months Ended |
Mar. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative [Text Block] | Derivatives The Company has entered into various interest rate swap agreements as part of its interest rate risk management strategy. The Company uses interest rate swaps to manage its interest rate risk exposure on certain loans, variable-rate and short-term borrowings, and deposits due to interest rate movements. The notional amounts of the interest rate swaps do not represent amounts exchanged by the counterparties, but rather, the notional amount is used to determine, along with other terms of the derivative, the amounts to be exchanged between the counterparties. Interest Rate Swaps Designated as a Cash Flow Hedge: The Company had interest rate swaps designated as cash flow hedges with total notional amounts of $255,000 at March 31, 2022 and December 31, 2021. As of March 31, 2022, the Company had swaps with a total notional amount of $125,000 that hedge the interest payments of rolling fixed-rate one-month funding consisting of FHLB advances or brokered deposits. Also as of March 31, 2022, the Company had a swap with a total notional amount of $20,000 that effectively converts variable-rate junior subordinated notes to fixed-rate debt, and swaps with a total notional amount of $110,000 that hedge the interest payments of certain deposit accounts. In March 2021, the Company terminated interest rate swaps with a total notional amount of $50,000. In the second quarter of 2021, the Company repaid $50,000 of FHLB advances related to these terminated swaps as a result of excess liquidity and in response to market conditions. Pre-tax losses of $3,600 were reclassified from accumulated other comprehensive income (AOCI) and recorded in noninterest income at termination. Derivatives Not Designated as Accounting Hedges: To accommodate customer needs, the Company on occasion offers loan level interest rate swaps to its customers and offsets its exposure from such contracts by entering into mirror image swaps with a swap counterparty (back-to-back swap program). The interest rate swaps are free-standing derivatives and are recorded at fair value. The Company enters into a floating-rate loan and a fixed-rate swap with our customer. Simultaneously, the Company enters into an offsetting fixed-rate swap with a swap counterparty. In connection with each swap transaction, the Company agrees to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on the same notional amount at a fixed interest rate. At the same time, the Company agrees to pay a swap counterparty the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. These transactions allow the Company’s customers to effectively convert variable-rate loans to fixed-rate loans. The customer accommodations and any offsetting swaps are treated as non-hedging derivative instruments which do not qualify for hedge accounting. The Company entered into forward-starting interest rate swaps with a total notional amount of $100,000 in January 2021 that were not accounting hedges. These swaps were terminated in March 2021, and the resulting gains of $3,781 were recorded in noninterest income. The table below identifies the balance sheet category and fair values of the Company's derivative instruments as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Cash Flow Hedges: Gross notional amount $ 255,000 $ 255,000 Fair value in other assets 4,065 — Fair value in other liabilities — (7,517) Weighted-average floating rate received 0.66 % 0.39 % Weighted-average fixed rate paid 2.09 % 2.09 % Weighted-average maturity in years 3.9 4.2 Non-Hedging Derivatives: Gross notional amount $ 170,992 $ 172,008 Fair value in other assets 8,396 3,887 Fair value in other liabilities (8,396) (3,887) The following table identifies the pre-tax gains or losses recognized on the Company's derivative instruments designated as cash flow hedges for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 Pre-tax gain recognized in other comprehensive income $ 10,536 $ 7,763 Reclassification from AOCI into income: Increase in interest expense $ (1,045) $ (1,370) Decrease in noninterest income, swap termination fees — (3,600) The Company estimates there will be approximately $3,651 reclassified from accumulated other comprehensive income to interest expense through the 12 months ending March 31, 2023 related to cash flow hedges. The Company is exposed to credit risk in the event of nonperformance by interest rate swap counterparties, which is minimized by collateral-pledging provisions in the agreements. Derivative contracts with swap counterparties are executed with a Credit Support Annex, which is a bilateral ratings-sensitive agreement that requires collateral postings at established credit threshold levels. These agreements protect the interests of the Company and its counterparties should either party suffer a credit rating deterioration. As of March 31, 2022 and December 31, 2021, the Company pledged $0 and $4,500, respectively, of collateral to the counterparties in the form of cash on deposit with third parties. As of March 31, 2022 and December 31, 2021, the Company's counterparties pledged $12,580 and $0, respectively, of collateral to the Company in the form of cash on deposit. The interest rate swap product with the borrower is cross-collateralized with the underlying loan and therefore there is no pledged cash collateral under swap contracts with customers. |
Deferred Income Taxes (Notes)
Deferred Income Taxes (Notes) | 3 Months Ended |
Mar. 31, 2022 | |
Components of Deferred Tax Assets and Liabilities [Abstract] | |
Deferred Income Taxes [Text Block] | Income Taxes Net deferred tax assets consisted of the following as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Deferred tax assets: Allowance for loan losses $ 6,988 $ 7,176 Net unrealized losses on securities available for sale 15,514 1,701 Net unrealized losses on interest rate swaps — 1,903 Lease liabilities 1,423 1,502 Accrued expenses 235 395 Restricted stock unit compensation 465 821 State net operating loss carryforward 1,296 1,276 Other 151 139 26,072 14,913 Deferred tax liabilities: Right-of-use assets 1,372 1,450 Net deferred loan fees and costs 250 247 Net unrealized gains on interest rate swaps 1,027 — Premises and equipment 926 809 Other 324 312 3,899 2,818 Net deferred tax assets before valuation allowance 22,173 12,095 Valuation allowance (1,296) (1,276) Net deferred tax assets $ 20,877 $ 10,819 |
Comprehensive Income (Notes)
Comprehensive Income (Notes) | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Comprehensive Income [Text Block] | . Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in the balances of each component of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2022 and 2021. Unrealized Unrealized Accumulated Gains Gains Other (Losses) on (Losses) on Comprehensive Securities Derivatives Income (Loss) Balance, December 31, 2021 $ (5,021) $ (5,616) $ (10,637) Other comprehensive income (loss) before reclassifications (40,782) 7,870 (32,912) Amounts reclassified from accumulated other comprehensive income — 781 781 Net current period other comprehensive income (loss) (40,782) 8,651 (32,131) Balance, March 31, 2022 $ (45,803) $ 3,035 $ (42,768) Balance, December 31, 2020 $ 5,994 $ (17,840) $ (11,846) Other comprehensive income (loss) before reclassifications (6,237) 5,807 (430) Amounts reclassified from accumulated other comprehensive income (3) 3,718 3,715 Net current period other comprehensive income (loss) (6,240) 9,525 3,285 Balance, March 31, 2021 $ (246) $ (8,315) $ (8,561) |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies [Text Block] | Commitments and Contingencies Financial instruments with off-balance-sheet risk : The Company is party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations that it uses for on-balance-sheet instruments. The Company's commitments consisted of the following amounts as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Commitments to fund real estate construction loans $ 290,261 $ 294,580 Other commitments to extend credit 735,200 585,678 Standby letters of credit 17,130 17,391 $ 1,042,591 $ 897,649 West Bank previously executed Mortgage Partnership Finance (MPF) Master Commitments (Commitments) with the FHLB of Des Moines to deliver residential mortgage loans and to guarantee the payment of any realized losses that exceed the FHLB's first loss account for mortgages delivered under the Commitments. West Bank receives credit enhancement fees from the FHLB for providing this guarantee and continuing to assist with managing the credit risk of the MPF Program residential mortgage loans. The outstanding balance of mortgage loans sold under the MPF Program was $26,676 and $31,552 at March 31, 2022 and December 31, 2021, respectively. Contractual commitments : The Company had remaining commitments to invest in qualified affordable housing projects totaling $3,947 and $3,986 as of March 31, 2022 and December 31, 2021, respectively. |
Fair Value Measurements (Notes)
Fair Value Measurements (Notes) | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts business. The Company's balance sheet contains securities available for sale and derivative instruments that are recorded at fair value on a recurring basis. The three-level valuation hierarchy for disclosure of fair value is as follows: Level 1 uses quoted market prices in active markets for identical assets or liabilities. Level 2 uses observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3 uses unobservable inputs that are not corroborated by market data. The Company's policy is to recognize transfers between levels at the end of each reporting period, if applicable. There were no transfers between levels of the fair value hierarchy during the three months ended March 31, 2022. The following is a description of valuation methodologies used for financial assets and liabilities recorded at fair value on a recurring basis. Securities available for sale: When available, quoted market prices are used to determine the fair value of securities (Level 1). If quoted market prices are not available, the Company determines fair value based on various sources and may apply matrix pricing with observable prices for similar bonds where a price for the identical bond is not observable (Level 2). The fair values of these securities are determined by pricing models that consider observable market data such as interest rate volatilities, yield curves, credit spreads, prices from market makers and live trading systems. Management obtains the fair value of securities at the end of each reporting period via a third-party pricing service. Management reviewed the valuation process used by the third party and believed the process was valid. On a quarterly basis, management corroborates the fair values of a randomly selected sample of securities by obtaining pricing from an independent financial market data vendor and comparing the two sets of fair values. Any significant variances are reviewed and investigated. For a sample of securities, prices are further validated by management by obtaining details of the inputs used by the pricing service. Those inputs were independently tested, and management concluded the fair values were consistent with GAAP requirements and the securities were properly classified in the fair value hierarchy. Derivative instruments: The Company's derivative instruments consist of interest rate swaps accounted for as cash flow hedges, as well as interest rate swaps which are accounted for as non-hedging derivatives. The Company's derivative positions are classified within Level 2 of the fair value hierarchy and are valued using models generally accepted in the financial services industry and that use actively quoted or observable market input values from external market data providers and/or non-binding broker-dealer quotations. The fair value of the derivatives is determined using discounted cash flow models. These models’ key assumptions include the contractual terms of the respective contract along with significant observable inputs, including interest rates, yield curves, nonperformance risk and volatility. The following tables present the balances of financial assets and liabilities measured at fair value on a recurring basis by level as of March 31, 2022 and December 31, 2021. March 31, 2022 Total Level 1 Level 2 Level 3 Financial assets: Securities available for sale: State and political subdivisions $ 223,036 $ — $ 223,036 $ — Collateralized mortgage obligations 357,777 — 357,777 — Mortgage-backed securities 166,111 — 166,111 — Collateralized loan obligations 37,707 — 37,707 — Corporate notes 13,281 — 13,281 — Derivative instruments, interest rate swaps 12,461 — 12,461 — Financial liabilities: Derivative instruments, interest rate swaps $ 8,396 $ — $ 8,396 $ — December 31, 2021 Total Level 1 Level 2 Level 3 Financial assets: Securities available for sale: State and political subdivisions $ 232,447 $ — $ 232,447 $ — Collateralized mortgage obligations 320,773 — 320,773 — Mortgage-backed securities 155,060 — 155,060 — Collateralized loan obligations 37,782 — 37,782 — Corporate notes 12,760 — 12,760 — Derivative instruments, interest rate swaps 3,887 — 3,887 — Financial liabilities: Derivative instruments, interest rate swaps $ 11,404 $ — $ 11,404 $ — Certain assets are measured at fair value on a nonrecurring basis. That is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Impaired loans with a net book value of $5,958 and $6,099 for which a fair value adjustment was recorded were classified as Level 3 as of March 31, 2022 and December 31, 2021, respectively. As of March 31, 2022, impaired loans with a carrying value of $8,458 were reduced by a specific reserve of $2,500, resulting in a reported fair value of $5,958. As of December 31, 2021, impaired loans with a carrying value of $8,599 were reduced by a specific reserve of $2,500, resulting in a reported fair value of $6,099. In determining the estimated net realizable value of the underlying collateral of impaired loans, the Company primarily uses third-party appraisals or broker opinions which may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available and include consideration of variations in location, size, and income production capacity of the property. Additionally, the appraisals are periodically further adjusted by the Company in consideration of charges that may be incurred in the event of foreclosure and are based on management’s historical knowledge, changes in business factors and changes in market conditions. Because of the high degree of judgment required in estimating the fair value of collateral underlying impaired loans and because of the relationship between fair value and general economic conditions, the Company considers the fair value of impaired loans to be highly sensitive to changes in market conditions. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis. Valuation Technique Unobservable Inputs Range (Weighted Average) March 31, 2022 Impaired loans Appraisal of collateral Appraisal adjustment 50%, including selling costs December 31, 2021 Impaired loans Appraisal of collateral Appraisal adjustment 50%, including selling costs GAAP requires disclosure of the fair value of financial assets and financial liabilities, including those that are not measured and reported at fair value on a recurring or nonrecurring basis. The following table presents the carrying amounts and approximate fair values of financial assets and liabilities as of March 31, 2022 and December 31, 2021. March 31, 2022 Carrying Amount Approximate Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and due from banks $ 21,896 $ 21,896 $ 21,896 $ — $ — Federal funds sold 122,359 122,359 122,359 — — Securities available for sale 797,912 797,912 — 797,912 — Federal Home Loan Bank stock 10,269 10,269 10,269 — — Loans, net 2,457,743 2,399,078 — 2,393,120 5,958 Accrued interest receivable 10,083 10,083 10,083 — — Interest rate swaps 12,461 12,461 — 12,461 — Financial liabilities: Deposits $ 3,091,252 $ 3,091,479 $ — $ 3,091,479 $ — Federal funds purchased — — — — — Subordinated notes, net 20,468 15,788 — 15,788 — Federal Home Loan Bank advances 125,000 125,000 — 125,000 — Long-term debt 51,486 51,486 — 51,486 — Accrued interest payable 588 588 588 — — Interest rate swaps 8,396 8,396 — 8,396 — Off-balance sheet financial instruments: Commitments to extend credit — — — — — Standby letters of credit — — — — — December 31, 2021 Carrying Amount Approximate Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and due from banks $ 17,555 $ 17,555 $ 17,555 $ — $ — Federal funds sold 175,270 175,270 175,270 — — Securities available for sale 758,822 758,822 — 758,822 — Federal Home Loan Bank stock 9,965 9,965 9,965 — — Loans, net 2,427,832 2,453,081 — 2,446,982 6,099 Accrued interest receivable 8,890 8,890 8,890 — — Interest rate swaps 3,887 3,887 — 3,887 — Financial liabilities: Deposits $ 3,016,005 $ 3,016,305 $ — $ 3,016,305 $ — Federal funds purchased 2,880 2,880 2,880 — — Subordinated notes, net 20,465 17,122 — 17,122 — Federal Home Loan Bank advances 125,000 125,000 — 125,000 — Long-term debt 51,521 51,521 — 51,521 — Accrued interest payable 519 519 519 — — Interest rate swaps 11,404 11,404 — 11,404 — Off-balance sheet financial instruments: Commitments to extend credit — — — — — Standby letters of credit — — — — — |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The accompanying unaudited consolidated financial statements have been prepared by West Bancorporation, Inc. (the Company) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in financial statements have been condensed or omitted pursuant to such rules and regulations. Although management believes that the disclosures are adequate to make the information presented understandable, it is suggested that these interim consolidated financial statements be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 24, 2022. In the opinion of management, the accompanying consolidated financial statements of the Company contain all adjustments necessary to fairly present its financial position as of March 31, 2022 and December 31, 2021 and net income, comprehensive income, changes in stockholders' equity and cash flows for the three months ended March 31, 2022 and 2021. The results for these interim periods may not be indicative of results for the entire year or for any other period. The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) established by the Financial Accounting Standards Board (FASB). References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codificationâ„¢ |
Use of Estimates, Policy [Policy Text Block] | In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term are the fair value of financial instruments and the allowance for loan losses |
Consolidation, Policy [Policy Text Block] | The accompanying unaudited consolidated financial statements include the accounts of the Company, West Bank and West Bank's special purpose subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. In accordance with GAAP, West Bancorporation Capital Trust I is recorded on the books of the Company using the equity method of accounting and is not consolidated. |
New Accounting Pronouncements, Policy [Policy Text Block] | Current accounting developments : In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326). The amendments in this update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net carrying value at the amount expected to be collected on the financial assets. Under the update, the income statement will reflect the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount of financial assets. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. The allowance for credit losses for purchased financial assets with a more-than-insignificant amount of credit deterioration since origination that are measured at amortized cost basis is determined in a similar manner to other financial assets measured at amortized cost basis; however, the initial allowance for credit losses is added to the purchase price rather than being reported as a credit loss expense. Only subsequent changes in the allowance for credit losses are recorded as a credit loss expense for these assets. Off-balance-sheet arrangements such as commitments to extend credit, guarantees, and standby letters of credit that are not considered derivatives under ASC 815 and are not unconditionally cancellable are also within the scope of this update. Credit losses relating to available for sale debt securities should be recorded through an allowance for credit losses. In December 2019, the FASB issued ASU No. 2019-10, Financial Instruments-Credit Losses (Topic 326). This update amends the effective date of ASU No. 2016-13 for certain entities, including smaller reporting companies until fiscal years beginning after December 15, 2022, including interim periods within those fiscal periods. Early adoption is permitted. The one-time determination date for identifying as a smaller reporting company was November 15, 2019. The Company met the definition of a smaller reporting company as of that date and plans to adopt the standard with the amended effective date. The Company does not plan to early adopt this standard, but continues to work through implementation. The Company continues collecting and retaining loan and credit data and evaluating various loss estimation models. While we currently cannot reasonably estimate the impact of adopting this standard, we expect the impact will be influenced by the composition, characteristics and quality of our loan and securities portfolios, as well as the general economic conditions and forecasts as of the adoption date. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Financial Instruments - Credit Losses (ASC 326), Derivatives and Hedging (ASC 815), and Financial Instruments (ASC 825) . The amendments in the ASU improve the Codification by eliminating inconsistencies and providing clarifications. The amended guidance in this ASU related to the credit losses will be effective for the Company for fiscal years and interim periods beginning after December 15, 2022. The Company is currently evaluating the impact of the ASU on the Company’s consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings and Vintage Disclosures . The amendments in this ASU improve the usefulness of information provided to investors about certain loan refinancing, restructurings, and write-offs. The amendments eliminate the accounting guidance for troubled debt restructurings (TDRs) by creditors that have adopted ASU No. 2016-13. It also enhances disclosure requirements for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficult. Lastly, the amendments require that a public business entity disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases. The Company is currently evaluating the impact of the ASU on the Company's consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. It provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of the reference rate reform on the Company’s consolidated financial statements. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope . The amendments in this update refine the scope for certain optional expedients and exceptions for contract modifications and hedge accounting to apply to derivative contra cts and certain hedging relationships affected by the discounting transition. T he amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of the reference rate reform on the Company's consolidated financial statements. |
Earnings Per Share, Policy [Policy Text Block] | Basic earnings per common share are computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per common share reflect the potential dilution that could occur if the Company's outstanding restricted stock units were vested. The dilutive effect was computed using the treasury stock method, which assumes all stock-based awards were exercised and the hypothetical proceeds from exercise were used by the Company to purchase common stock at the average market price during the period. The incremental shares, to the extent they would have been dilutive, were included in the denominator of the diluted earnings per common share calculation. |
Financing Receivable, Fee and Interest Income [Policy Text Block] | Loans are stated at the principal amounts outstanding, net of unamortized loan fees and costs, with interest income recognized on the interest method based upon the terms of the loan. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the interest method. Loans are reported by the portfolio segments identified above and are analyzed by management on this basis. |
Loans and Leases Receivable, Nonaccrual Loan and Lease Status, Policy [Policy Text Block] | Delinquencies are determined based on the payment terms of the individual loan agreements. The accrual of interest on past due and other impaired loans is generally discontinued at 90 days past due or when, in the opinion of management, the borrower may be unable to make all payments pursuant to contractual terms. Unless considered collectible, all interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income, if accrued in the current year, or charged to the allowance for loan losses, if accrued in the prior year. Generally, all payments received while a loan is on nonaccrual status are applied to the principal balance of the loan. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Troubled Debt Restructuring [Policy Text Block] | A loan is classified as a TDR loan when the Company separately concludes that a borrower is experiencing financial difficulties and a concession is granted that would not otherwise be considered. Concessions may include a restructuring of the loan terms to alleviate the burden of the borrower's cash requirements, such as an extension of the payment terms beyond the original maturity date or a change in the interest rate charged. TDR loans with extended payment terms are accounted for as impaired until performance is established. A change to the interest rate would change the classification of a loan to a TDR loan if the restructured loan yields a rate that is below a market rate for that of a new loan with comparable risk. TDR loans with below-market rates are considered impaired until fully collected. TDR loans may also be reported as nonaccrual or 90 days past due if they are not performing per the restructured terms. |
Impaired Financing Receivable, Policy [Policy Text Block] | Based upon its ongoing assessment of credit quality within the loan portfolio, the Company maintains a Watch List, which includes loans classified as Doubtful, Substandard and Watch according to the Company's classification criteria. These loans involve the anticipated potential for payment defaults or collateral inadequacies. A loan on the Watch List is considered impaired when management believes it is probable the Company will be unable to collect all contractual principal and interest payments due in accordance with the terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan's effective interest rate or, as a practical expedient, at the loan's observable market price or the fair value of the collateral if the loan is collateral dependent. The amount of impairment, if any, and any subsequent changes are included in the specific component of the allowance for loan losses. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | The allowance for loan losses is established through a provision for loan losses charged to expense. The allowance is an amount that management believes will be adequate to absorb probable losses on existing loans based on an evaluation of the collectability of loans and prior loss experience. This evaluation also takes into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, the review of specific problem loans, and the current economic conditions that may affect the borrower's ability to pay. Loans are charged-off against the allowance for loan losses when management believes that collectability of the principal is unlikely. While management uses the best information available to make its evaluations, future adjustments to the allowance may be necessary if there are significant changes in economic conditions or the other factors relied upon.The allowance for loan losses consists of specific and general components. The specific component relates to loans that meet the definition of impaired. The general component covers the remaining loans and is based on historical loss experience adjusted for qualitative factors such as delinquency trends, loan growth, economic elements and local market conditions. These same policies are applied to all segments of loans. In addition, regulatory agencies, as an integral part of their examination processes, periodically review the Company's allowance for loan losses, and may require the Company to make additions to the allowance based on their judgment about information available to them at the time of their examinations. |
Fair Value Measurement, Policy [Policy Text Block] | Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts business. The Company's balance sheet contains securities available for sale and derivative instruments that are recorded at fair value on a recurring basis. The three-level valuation hierarchy for disclosure of fair value is as follows: Level 1 uses quoted market prices in active markets for identical assets or liabilities. Level 2 uses observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3 uses unobservable inputs that are not corroborated by market data. The Company's policy is to recognize transfers between levels at the end of each reporting period, if applicable. There were no transfers between levels of the fair value hierarchy during the three months ended March 31, 2022. The following is a description of valuation methodologies used for financial assets and liabilities recorded at fair value on a recurring basis. Securities available for sale: When available, quoted market prices are used to determine the fair value of securities (Level 1). If quoted market prices are not available, the Company determines fair value based on various sources and may apply matrix pricing with observable prices for similar bonds where a price for the identical bond is not observable (Level 2). The fair values of these securities are determined by pricing models that consider observable market data such as interest rate volatilities, yield curves, credit spreads, prices from market makers and live trading systems. Management obtains the fair value of securities at the end of each reporting period via a third-party pricing service. Management reviewed the valuation process used by the third party and believed the process was valid. On a quarterly basis, management corroborates the fair values of a randomly selected sample of securities by obtaining pricing from an independent financial market data vendor and comparing the two sets of fair values. Any significant variances are reviewed and investigated. For a sample of securities, prices are further validated by management by obtaining details of the inputs used by the pricing service. Those inputs were independently tested, and management concluded the fair values were consistent with GAAP requirements and the securities were properly classified in the fair value hierarchy. Derivative instruments: The Company's derivative instruments consist of interest rate swaps accounted for as cash flow hedges, as well as interest rate swaps which are accounted for as non-hedging derivatives. The Company's derivative positions are classified within Level 2 of the fair value hierarchy and are valued using models generally accepted in the financial services industry and that use actively quoted or observable market input values from external market data providers and/or non-binding broker-dealer quotations. The fair value of the derivatives is determined using discounted cash flow models. These models’ key assumptions include the contractual terms of the respective contract along with significant observable inputs, including interest rates, yield curves, nonperformance risk and volatility. |
Fair Value Transfer, Policy [Policy Text Block] | The Company's policy is to recognize transfers between levels at the end of each reporting period, if applicable. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | GAAP requires disclosure of the fair value of financial assets and financial liabilities, including those that are not measured and reported at fair value on a recurring or nonrecurring basis |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | The Company is party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations that it uses for on-balance-sheet instruments. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The calculations of earnings per common share and diluted earnings per common share for the three months ended March 31, 2022 and 2021 are presented in the following table. Three Months Ended March 31, (in thousands, except per share data) 2022 2021 Net income $ 13,184 $ 11,752 Weighted average common shares outstanding 16,561 16,475 Weighted average effect of restricted stock units outstanding 279 226 Diluted weighted average common shares outstanding 16,840 16,701 Basic earnings per common share $ 0.80 $ 0.71 Diluted earnings per common share $ 0.78 $ 0.70 Number of anti-dilutive common stock equivalents excluded from diluted earnings per share computation 18 67 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following tables show the amortized cost, gross unrealized gains and losses, and fair value of securities available for sale, by security type as of March 31, 2022 and December 31, 2021. March 31, 2022 Amortized Gross Gross Fair Securities available for sale: State and political subdivisions $ 244,668 $ 384 $ (22,016) $ 223,036 Collateralized mortgage obligations (1) 382,410 84 (24,717) 357,777 Mortgage-backed securities (1) 180,495 13 (14,397) 166,111 Collateralized loan obligations 37,907 — (200) 37,707 Corporate notes 13,750 3 (472) 13,281 $ 859,230 $ 484 $ (61,802) $ 797,912 December 31, 2021 Amortized Gross Gross Fair Securities available for sale: State and political subdivisions $ 231,903 $ 3,161 $ (2,617) $ 232,447 Collateralized mortgage obligations (1) 325,406 1,627 (6,260) 320,773 Mortgage-backed securities (1) 157,607 167 (2,714) 155,060 Collateralized loan obligations 37,880 59 (157) 37,782 Corporate notes 12,750 62 (52) 12,760 $ 765,546 $ 5,076 $ (11,800) $ 758,822 (1) Collateralized mortgage obligations and mortgage-backed securities consist of residential and commercial mortgage pass-through securities and collateralized mortgage obligations guaranteed by FNMA, FHLMC, GNMA and SBA. |
Investments Classified by Contractual Maturity Date [Table Text Block] | The amortized cost and fair value of securities available for sale as of March 31, 2022, by contractual maturity, are shown below. Certain securities have call features that allow the issuer to call the securities prior to maturity. Expected maturities may differ from contractual maturities for collateralized mortgage obligations and mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, collateralized mortgage obligations and mortgage-backed securities are not included in the maturity categories within the following maturity summary. March 31, 2022 Amortized Cost Fair Value Due after five years through ten years $ 65,187 $ 63,263 Due after ten years 231,138 210,761 296,325 274,024 Collateralized mortgage obligations and mortgage-backed securities 562,905 523,888 $ 859,230 $ 797,912 |
Schedule of Realized Gain (Loss) [Table Text Block] | The details of the sales of securities available for sale for the three months ended March 31, 2022 and 2021 are summarized in the following table. Three Months Ended March 31, 2022 2021 Proceeds from sales $ — $ 18,775 Gross gains on sales — 162 Gross losses on sales — 158 |
Schedule of Unrealized Loss on Investments [Table Text Block] | The following tables show the fair value and gross unrealized losses, aggregated by investment type and length of time that individual securities have been in a continuous loss position, as of March 31, 2022 and December 31, 2021. March 31, 2022 Less than 12 months 12 months or longer Total Fair Gross Fair Gross Fair Gross Securities available for sale: State and political subdivisions $ 164,711 $ (16,085) $ 34,130 $ (5,931) $ 198,841 $ (22,016) Collateralized mortgage obligations 336,765 (23,465) 10,131 (1,252) 346,896 (24,717) Mortgage-backed securities 125,926 (10,227) 38,310 (4,170) 164,236 (14,397) Collateralized loan obligations 37,707 (200) — — 37,707 (200) Corporate notes 12,278 (472) — — 12,278 (472) $ 677,387 $ (50,449) $ 82,571 $ (11,353) $ 759,958 $ (61,802) December 31, 2021 Less than 12 months 12 months or longer Total Fair Gross Fair Gross Fair Gross Securities available for sale: State and political subdivisions $ 121,574 $ (1,223) $ 33,894 $ (1,394) $ 155,468 $ (2,617) Collateralized mortgage obligations 241,320 (6,149) 2,352 (111) 243,672 (6,260) Mortgage-backed securities 140,168 (2,714) — — 140,168 (2,714) Collateralized loan obligations 22,821 (157) — — 22,821 (157) Corporate notes 4,198 (52) — — 4,198 (52) $ 530,081 $ (10,295) $ 36,246 $ (1,505) $ 566,327 $ (11,800) |
Loans and Allowance for Loan _2
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Loans and Allowance for Loan Losses [Abstract] | |
Schedule of Loans [Table Text Block] | Loans consisted of the following segments as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Commercial $ 466,874 $ 492,815 Real estate: Construction, land and land development 388,424 359,258 1-4 family residential first mortgages 65,978 66,216 Home equity 9,213 8,422 Commercial 1,555,001 1,530,218 Consumer and other 4,068 3,797 2,489,558 2,460,726 Net unamortized fees and costs (4,192) (4,530) $ 2,485,366 $ 2,456,196 |
Impaired Loans [Table Text Block] | The following table summarizes the recorded investment in impaired loans by segment, broken down by loans with no related allowance for loan losses and loans with a related allowance and the amount of that allowance as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ — $ — $ — $ — $ — $ — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 342 342 — 349 349 — Home equity — — — — — — Commercial — — — — — — Consumer and other — — — — — — 342 342 — 349 349 — With an allowance recorded: Commercial — — — — — — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages — — — — — — Home equity — — — — — — Commercial 8,458 8,458 2,500 8,599 8,599 2,500 Consumer and other — — — — — — 8,458 8,458 2,500 8,599 8,599 2,500 Total: Commercial — — — — — — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 342 342 — 349 349 — Home equity — — — — — — Commercial 8,458 8,458 2,500 8,599 8,599 2,500 Consumer and other — — — — — — $ 8,800 $ 8,800 $ 2,500 $ 8,948 $ 8,948 $ 2,500 |
Schedule of Impaired Loans With and Without an Allowance [Table Text Block] | The following table summarizes the average recorded investment and interest income recognized on impaired loans by segment for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ — Real estate: Construction, land and land development — — — — 1-4 family residential first mortgages 345 — 374 — Home equity — — — — Commercial — — — — Consumer and other — — — — 345 — 374 — With an allowance recorded: Commercial — — — — Real estate: Construction, land and land development — — — — 1-4 family residential first mortgages — — — — Home equity — — — — Commercial 8,529 — 15,817 — Consumer and other — — — — 8,529 — 15,817 — Total: Commercial — — — — Real estate: Construction, land and land development — — — — 1-4 family residential first mortgages 345 — 374 — Home equity — — — — Commercial 8,529 — 15,817 — Consumer and other — — — — $ 8,874 $ — $ 16,191 $ — |
Past Due Loans [Table Text Block] | The following tables provide an analysis of the payment status of the recorded investment in loans as of March 31, 2022 and December 31, 2021. March 31, 2022 30-59 60-89 90 Days Total Current Nonaccrual Loans Total Loans Commercial $ — $ — $ — $ — $ 466,874 $ — $ 466,874 Real estate: Construction, land and land development — — — — 388,424 — 388,424 1-4 family residential first mortgages — — — — 65,636 342 65,978 Home equity — — — — 9,213 — 9,213 Commercial — — — — 1,546,543 8,458 1,555,001 Consumer and other — — — — 4,068 — 4,068 Total $ — $ — $ — $ — $ 2,480,758 $ 8,800 $ 2,489,558 December 31, 2021 30-59 60-89 90 Days Total Current Nonaccrual Loans Total Commercial $ — $ — $ — $ — $ 492,815 $ — $ 492,815 Real estate: Construction, land and land development — — — — 359,258 — 359,258 1-4 family residential first mortgages — — — — 65,867 349 66,216 Home equity — — — — 8,422 — 8,422 Commercial — — — — 1,521,619 8,599 1,530,218 Consumer and other — — — — 3,797 — 3,797 Total $ — $ — $ — $ — $ 2,451,778 $ 8,948 $ 2,460,726 |
Loan Credit Quality Indicators [Table Text Block] | The following tables present the recorded investment in loans by credit quality indicator and loan segment as of March 31, 2022 and December 31, 2021. March 31, 2022 Pass Watch Substandard Doubtful Total Commercial $ 466,615 $ 259 $ — $ — $ 466,874 Real estate: Construction, land and land development 388,370 54 — — 388,424 1-4 family residential first mortgages 65,367 154 457 — 65,978 Home equity 9,213 — — — 9,213 Commercial 1,486,246 60,297 8,458 — 1,555,001 Consumer and other 4,068 — — — 4,068 Total $ 2,419,879 $ 60,764 $ 8,915 $ — $ 2,489,558 December 31, 2021 Pass Watch Substandard Doubtful Total Commercial $ 492,545 $ 270 $ — $ — $ 492,815 Real estate: Construction, land and land development 359,203 55 — — 359,258 1-4 family residential first mortgages 65,596 156 464 — 66,216 Home equity 8,422 — — — 8,422 Commercial 1,458,075 63,544 8,599 — 1,530,218 Consumer and other 3,797 — — — 3,797 Total $ 2,387,638 $ 64,025 $ 9,063 $ — $ 2,460,726 |
Allowance for Loan Losses [Table Text Block] | The following tables detail the changes in the allowance for loan losses by segment for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 4,776 $ 3,646 $ 339 $ 91 $ 19,466 $ 46 $ 28,364 Charge-offs — — — — — — — Recoveries 4 — 1 1 3 — 9 Provision (1) (72) 352 8 9 (1,052) 5 (750) Ending balance $ 4,708 $ 3,998 $ 348 $ 101 $ 18,417 $ 51 $ 27,623 Three Months Ended March 31, 2021 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 4,718 $ 2,634 $ 360 $ 114 $ 21,535 $ 75 $ 29,436 Charge-offs — — — — — — — Recoveries 67 — 1 1 3 — 72 Provision (1) (167) 109 69 (25) 519 (5) 500 Ending balance $ 4,618 $ 2,743 $ 430 $ 90 $ 22,057 $ 70 $ 30,008 (1) The negative provisions for the various segments are related to the decline in outstanding balances in each of those portfolio segments during the time periods disclosed and/or improvement in the credit quality factors related to those portfolio segments. |
Allowance for Loan Losses by Impairment Method [Table Text Block] | The following tables present a breakdown of the allowance for loan losses disaggregated on the basis of impairment analysis method by segment as of March 31, 2022 and December 31, 2021. March 31, 2022 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ 2,500 $ — $ 2,500 Collectively evaluated for impairment 4,708 3,998 348 101 15,917 51 25,123 Total $ 4,708 $ 3,998 $ 348 $ 101 $ 18,417 $ 51 $ 27,623 December 31, 2021 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ 2,500 $ — $ 2,500 Collectively evaluated for impairment 4,776 3,646 339 91 16,966 46 25,864 Total $ 4,776 $ 3,646 $ 339 $ 91 $ 19,466 $ 46 $ 28,364 |
Loans by Impairment Method [Table Text Block] | The following tables present the recorded investment in loans, exclusive of unamortized fees and costs, disaggregated on the basis of impairment analysis method by segment as of March 31, 2022 and December 31, 2021. March 31, 2022 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ 342 $ — $ 8,458 $ — $ 8,800 Collectively evaluated for impairment 466,874 388,424 65,636 9,213 1,546,543 4,068 2,480,758 Total $ 466,874 $ 388,424 $ 65,978 $ 9,213 $ 1,555,001 $ 4,068 $ 2,489,558 December 31, 2021 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ 349 $ — $ 8,599 $ — $ 8,948 Collectively evaluated for impairment 492,815 359,258 65,867 8,422 1,521,619 3,797 2,451,778 Total $ 492,815 $ 359,258 $ 66,216 $ 8,422 $ 1,530,218 $ 3,797 $ 2,460,726 |
Derivatives (Tables)
Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The table below identifies the balance sheet category and fair values of the Company's derivative instruments as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Cash Flow Hedges: Gross notional amount $ 255,000 $ 255,000 Fair value in other assets 4,065 — Fair value in other liabilities — (7,517) Weighted-average floating rate received 0.66 % 0.39 % Weighted-average fixed rate paid 2.09 % 2.09 % Weighted-average maturity in years 3.9 4.2 Non-Hedging Derivatives: Gross notional amount $ 170,992 $ 172,008 Fair value in other assets 8,396 3,887 Fair value in other liabilities (8,396) (3,887) |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following table identifies the pre-tax gains or losses recognized on the Company's derivative instruments designated as cash flow hedges for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 Pre-tax gain recognized in other comprehensive income $ 10,536 $ 7,763 Reclassification from AOCI into income: Increase in interest expense $ (1,045) $ (1,370) Decrease in noninterest income, swap termination fees — (3,600) |
Deferred Income Taxes (Tables)
Deferred Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Components of Deferred Tax Assets and Liabilities [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Net deferred tax assets consisted of the following as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Deferred tax assets: Allowance for loan losses $ 6,988 $ 7,176 Net unrealized losses on securities available for sale 15,514 1,701 Net unrealized losses on interest rate swaps — 1,903 Lease liabilities 1,423 1,502 Accrued expenses 235 395 Restricted stock unit compensation 465 821 State net operating loss carryforward 1,296 1,276 Other 151 139 26,072 14,913 Deferred tax liabilities: Right-of-use assets 1,372 1,450 Net deferred loan fees and costs 250 247 Net unrealized gains on interest rate swaps 1,027 — Premises and equipment 926 809 Other 324 312 3,899 2,818 Net deferred tax assets before valuation allowance 22,173 12,095 Valuation allowance (1,296) (1,276) Net deferred tax assets $ 20,877 $ 10,819 |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table summarizes the changes in the balances of each component of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2022 and 2021. Unrealized Unrealized Accumulated Gains Gains Other (Losses) on (Losses) on Comprehensive Securities Derivatives Income (Loss) Balance, December 31, 2021 $ (5,021) $ (5,616) $ (10,637) Other comprehensive income (loss) before reclassifications (40,782) 7,870 (32,912) Amounts reclassified from accumulated other comprehensive income — 781 781 Net current period other comprehensive income (loss) (40,782) 8,651 (32,131) Balance, March 31, 2022 $ (45,803) $ 3,035 $ (42,768) Balance, December 31, 2020 $ 5,994 $ (17,840) $ (11,846) Other comprehensive income (loss) before reclassifications (6,237) 5,807 (430) Amounts reclassified from accumulated other comprehensive income (3) 3,718 3,715 Net current period other comprehensive income (loss) (6,240) 9,525 3,285 Balance, March 31, 2021 $ (246) $ (8,315) $ (8,561) |
Commitments and Contingencies_2
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary Of Outstanding Commitments To Extend Credit And Letters Of Credit [Table Text Block] | The Company's commitments consisted of the following amounts as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Commitments to fund real estate construction loans $ 290,261 $ 294,580 Other commitments to extend credit 735,200 585,678 Standby letters of credit 17,130 17,391 $ 1,042,591 $ 897,649 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Carrying Amounts And Approximate Fair Values Of Financial Instruments [Table Text Block] | The following table presents the carrying amounts and approximate fair values of financial assets and liabilities as of March 31, 2022 and December 31, 2021. March 31, 2022 Carrying Amount Approximate Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and due from banks $ 21,896 $ 21,896 $ 21,896 $ — $ — Federal funds sold 122,359 122,359 122,359 — — Securities available for sale 797,912 797,912 — 797,912 — Federal Home Loan Bank stock 10,269 10,269 10,269 — — Loans, net 2,457,743 2,399,078 — 2,393,120 5,958 Accrued interest receivable 10,083 10,083 10,083 — — Interest rate swaps 12,461 12,461 — 12,461 — Financial liabilities: Deposits $ 3,091,252 $ 3,091,479 $ — $ 3,091,479 $ — Federal funds purchased — — — — — Subordinated notes, net 20,468 15,788 — 15,788 — Federal Home Loan Bank advances 125,000 125,000 — 125,000 — Long-term debt 51,486 51,486 — 51,486 — Accrued interest payable 588 588 588 — — Interest rate swaps 8,396 8,396 — 8,396 — Off-balance sheet financial instruments: Commitments to extend credit — — — — — Standby letters of credit — — — — — December 31, 2021 Carrying Amount Approximate Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and due from banks $ 17,555 $ 17,555 $ 17,555 $ — $ — Federal funds sold 175,270 175,270 175,270 — — Securities available for sale 758,822 758,822 — 758,822 — Federal Home Loan Bank stock 9,965 9,965 9,965 — — Loans, net 2,427,832 2,453,081 — 2,446,982 6,099 Accrued interest receivable 8,890 8,890 8,890 — — Interest rate swaps 3,887 3,887 — 3,887 — Financial liabilities: Deposits $ 3,016,005 $ 3,016,305 $ — $ 3,016,305 $ — Federal funds purchased 2,880 2,880 2,880 — — Subordinated notes, net 20,465 17,122 — 17,122 — Federal Home Loan Bank advances 125,000 125,000 — 125,000 — Long-term debt 51,521 51,521 — 51,521 — Accrued interest payable 519 519 519 — — Interest rate swaps 11,404 11,404 — 11,404 — Off-balance sheet financial instruments: Commitments to extend credit — — — — — Standby letters of credit — — — — — |
Fair Value, Assets Measured on Recurring Basis | The following tables present the balances of financial assets and liabilities measured at fair value on a recurring basis by level as of March 31, 2022 and December 31, 2021. March 31, 2022 Total Level 1 Level 2 Level 3 Financial assets: Securities available for sale: State and political subdivisions $ 223,036 $ — $ 223,036 $ — Collateralized mortgage obligations 357,777 — 357,777 — Mortgage-backed securities 166,111 — 166,111 — Collateralized loan obligations 37,707 — 37,707 — Corporate notes 13,281 — 13,281 — Derivative instruments, interest rate swaps 12,461 — 12,461 — Financial liabilities: Derivative instruments, interest rate swaps $ 8,396 $ — $ 8,396 $ — December 31, 2021 Total Level 1 Level 2 Level 3 Financial assets: Securities available for sale: State and political subdivisions $ 232,447 $ — $ 232,447 $ — Collateralized mortgage obligations 320,773 — 320,773 — Mortgage-backed securities 155,060 — 155,060 — Collateralized loan obligations 37,782 — 37,782 — Corporate notes 12,760 — 12,760 — Derivative instruments, interest rate swaps 3,887 — 3,887 — Financial liabilities: Derivative instruments, interest rate swaps $ 11,404 $ — $ 11,404 $ — |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Earnings Per Share [Abstract] | ||
Net income | $ 13,184 | $ 11,752 |
Weighted average common shares outstanding (shares) | 16,561 | 16,475 |
Weighted average effect of restricted stock units outstanding (shares) | 279 | 226 |
Diluted weighted average common shares outstanding (shares) | 16,840 | 16,701 |
Basic earnings per common share | $ 0.80 | $ 0.71 |
Diluted earnings per common share | $ 0.78 | $ 0.70 |
Number of anti-dilutive common stock equivalents excluded from earnings per share computation (shares) | 18 | 67 |
Investment Securities Security
Investment Securities Security Type - Available for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, amortized cost | $ 859,230 | $ 765,546 |
Securities available for sale, gross unrealized gains | 484 | 5,076 |
Securities available for sale, gross unrealized losses | (61,802) | (11,800) |
Securities available for sale, fair value | 797,912 | 758,822 |
Securities pledged as collateral at amortized cost | 286,672 | 295,961 |
State and political subdivisions [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, amortized cost | 244,668 | 231,903 |
Securities available for sale, gross unrealized gains | 384 | 3,161 |
Securities available for sale, gross unrealized losses | (22,016) | (2,617) |
Securities available for sale, fair value | 223,036 | 232,447 |
Collateralized mortgage obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, amortized cost | 382,410 | 325,406 |
Securities available for sale, gross unrealized gains | 84 | 1,627 |
Securities available for sale, gross unrealized losses | (24,717) | (6,260) |
Securities available for sale, fair value | 357,777 | 320,773 |
Mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, amortized cost | 180,495 | 157,607 |
Securities available for sale, gross unrealized gains | 13 | 167 |
Securities available for sale, gross unrealized losses | (14,397) | (2,714) |
Securities available for sale, fair value | 166,111 | 155,060 |
Collateralized loan obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, amortized cost | 37,907 | 37,880 |
Securities available for sale, gross unrealized gains | 0 | 59 |
Securities available for sale, gross unrealized losses | (200) | (157) |
Securities available for sale, fair value | 37,707 | 37,782 |
Corporate notes [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, amortized cost | 13,750 | 12,750 |
Securities available for sale, gross unrealized gains | 3 | 62 |
Securities available for sale, gross unrealized losses | (472) | (52) |
Securities available for sale, fair value | $ 13,281 | $ 12,760 |
Investment Securities Contractu
Investment Securities Contractual Maturities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis [Abstract] | ||
Due after five years through ten years, amortized cost | $ 65,187 | |
Due after ten years, amortized cost | 231,138 | |
Subtotal before securities without single maturities, amortized cost | 296,325 | |
Collateralized mortgage obligations and mortgage-backed securities, amortized cost | 562,905 | |
Securities available for sale, amortized cost | 859,230 | $ 765,546 |
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract] | ||
Due after five years through ten years, fair value | 63,263 | |
Due after ten years, fair value | 210,761 | |
Subtotal before securities without single maturities, fair value | 274,024 | |
Collateralized mortgage obligations and mortgage-backed securities, fair value | 523,888 | |
Securities available for sale, at fair value | $ 797,912 | $ 758,822 |
Investment Securities Detail of
Investment Securities Detail of Sale of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Investment Securities [Abstract] | ||
Proceeds from sales | $ 0 | $ 18,775 |
Gross gains on sales | 0 | 162 |
Gross losses on sales | $ 0 | $ 158 |
Investment Securities Gross Unr
Investment Securities Gross Unrealized Losses - AFS (Details) $ in Thousands | Mar. 31, 2022USD ($)securities | Dec. 31, 2021USD ($) |
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 677,387 | $ 530,081 |
Securities available for sale, continuous unrealized loss position, less than 12 months, accumulated loss | (50,449) | (10,295) |
Securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 82,571 | 36,246 |
Securities available for sale, continuous unrealized loss position, 12 months or longer, accumulated loss | (11,353) | (1,505) |
Securities available for sale, continuous unrealized loss position, fair value | 759,958 | 566,327 |
Securities available for sale, continuous unrealized loss position, accumulated loss | $ (61,802) | (11,800) |
State and political subdivisions [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, unrealized loss position, number of positions | securities | 75 | |
Securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 164,711 | 121,574 |
Securities available for sale, continuous unrealized loss position, less than 12 months, accumulated loss | (16,085) | (1,223) |
Securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 34,130 | 33,894 |
Securities available for sale, continuous unrealized loss position, 12 months or longer, accumulated loss | (5,931) | (1,394) |
Securities available for sale, continuous unrealized loss position, fair value | 198,841 | 155,468 |
Securities available for sale, continuous unrealized loss position, accumulated loss | $ (22,016) | (2,617) |
Collateralized mortgage obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, unrealized loss position, number of positions | securities | 72 | |
Securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 336,765 | 241,320 |
Securities available for sale, continuous unrealized loss position, less than 12 months, accumulated loss | (23,465) | (6,149) |
Securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 10,131 | 2,352 |
Securities available for sale, continuous unrealized loss position, 12 months or longer, accumulated loss | (1,252) | (111) |
Securities available for sale, continuous unrealized loss position, fair value | 346,896 | 243,672 |
Securities available for sale, continuous unrealized loss position, accumulated loss | $ (24,717) | (6,260) |
Mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, unrealized loss position, number of positions | securities | 25 | |
Securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 125,926 | 140,168 |
Securities available for sale, continuous unrealized loss position, less than 12 months, accumulated loss | (10,227) | (2,714) |
Securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 38,310 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or longer, accumulated loss | (4,170) | 0 |
Securities available for sale, continuous unrealized loss position, fair value | 164,236 | 140,168 |
Securities available for sale, continuous unrealized loss position, accumulated loss | $ (14,397) | (2,714) |
Collateralized loan obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, unrealized loss position, number of positions | securities | 6 | |
Securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 37,707 | 22,821 |
Securities available for sale, continuous unrealized loss position, less than 12 months, accumulated loss | (200) | (157) |
Securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or longer, accumulated loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position, fair value | 37,707 | 22,821 |
Securities available for sale, continuous unrealized loss position, accumulated loss | $ (200) | (157) |
Corporate notes [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, unrealized loss position, number of positions | securities | 7 | |
Securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 12,278 | 4,198 |
Securities available for sale, continuous unrealized loss position, less than 12 months, accumulated loss | (472) | (52) |
Securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or longer, accumulated loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position, fair value | 12,278 | 4,198 |
Securities available for sale, continuous unrealized loss position, accumulated loss | $ (472) | $ (52) |
Investment Securities Other Nar
Investment Securities Other Narratives - AFS securities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Investments, Debt and Equity Securities [Abstract] | ||
Securities pledged as collateral at amortized cost | $ 286,672 | $ 295,961 |
Loans and Allowance for Loan _3
Loans and Allowance for Loan Losses Schedule of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Loans Receivable [Line Items] | ||
Loans receivable, gross | $ 2,489,558 | $ 2,460,726 |
Net unamortized fees and costs | (4,192) | (4,530) |
Loans, net of unamortized fees and costs | 2,485,366 | 2,456,196 |
Commercial [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 466,874 | 492,815 |
Construction, land and land development [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 388,424 | 359,258 |
1-4 family residential first mortgages [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 65,978 | 66,216 |
Home equity [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 9,213 | 8,422 |
Commercial real estate [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 1,555,001 | 1,530,218 |
Consumer and other [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | $ 4,068 | $ 3,797 |
Loans and Allowance for Loan _4
Loans and Allowance for Loan Losses Schedule of Troubled Debt Restructured Loans (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2022USD ($)loans | Mar. 31, 2021loans | Mar. 31, 2022USD ($)loans | Mar. 31, 2021loans | Dec. 31, 2021USD ($) | |
Loans, Impaired [Line Items] | |||||
Loans, modifications | $ 8,458 | $ 8,458 | $ 8,599 | ||
Troubled debt restructured loans included in nonaccrual | $ 8,458 | $ 8,458 | 8,599 | ||
Loans, modifications, number of contracts | loans | 0 | 0 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | loans | 0 | 0 | |||
Commercial real estate [Member] | |||||
Loans, Impaired [Line Items] | |||||
Specific reserve related to TDR loans | $ 2,500 | $ 2,500 | $ 2,500 |
Loans and Allowance for Loan _5
Loans and Allowance for Loan Losses Schedule of Impaired Loans With and Without an Allowance (Details) $ in Thousands | Mar. 31, 2022USD ($)Borrowers | Dec. 31, 2021USD ($)Borrowers |
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, recorded investment | $ 342 | $ 349 |
Impaired loans, with no related allowance, unpaid principal balance | 342 | 349 |
Impaired loans, with related allowance, recorded investment | 8,458 | 8,599 |
Impaired loans, with related allowance, unpaid principal balance | 8,458 | 8,599 |
Impaired loans, recorded investment | 8,800 | 8,948 |
Impaired loans, unpaid principal balance | 8,800 | 8,948 |
Impaired loans, related allowance | $ 2,500 | $ 2,500 |
Number of borrowers, impaired loans | Borrowers | 2 | 2 |
Impaired loans, commitment to lend | $ 0 | $ 0 |
Commercial [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, recorded investment | 0 | 0 |
Impaired loans, with no related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, with related allowance, recorded investment | 0 | 0 |
Impaired loans, with related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, recorded investment | 0 | 0 |
Impaired loans, unpaid principal balance | 0 | 0 |
Impaired loans, related allowance | 0 | 0 |
Construction, land and land development [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, recorded investment | 0 | 0 |
Impaired loans, with no related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, with related allowance, recorded investment | 0 | 0 |
Impaired loans, with related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, recorded investment | 0 | 0 |
Impaired loans, unpaid principal balance | 0 | 0 |
Impaired loans, related allowance | 0 | 0 |
1-4 family residential first mortgages [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, recorded investment | 342 | 349 |
Impaired loans, with no related allowance, unpaid principal balance | 342 | 349 |
Impaired loans, with related allowance, recorded investment | 0 | 0 |
Impaired loans, with related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, recorded investment | 342 | 349 |
Impaired loans, unpaid principal balance | 342 | 349 |
Impaired loans, related allowance | 0 | 0 |
Home equity [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, recorded investment | 0 | 0 |
Impaired loans, with no related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, with related allowance, recorded investment | 0 | 0 |
Impaired loans, with related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, recorded investment | 0 | 0 |
Impaired loans, unpaid principal balance | 0 | 0 |
Impaired loans, related allowance | 0 | 0 |
Commercial real estate [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, recorded investment | 0 | 0 |
Impaired loans, with no related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, with related allowance, recorded investment | 8,458 | 8,599 |
Impaired loans, with related allowance, unpaid principal balance | 8,458 | 8,599 |
Impaired loans, recorded investment | 8,458 | 8,599 |
Impaired loans, unpaid principal balance | 8,458 | 8,599 |
Impaired loans, related allowance | 2,500 | 2,500 |
Consumer and other [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, recorded investment | 0 | 0 |
Impaired loans, with no related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, with related allowance, recorded investment | 0 | 0 |
Impaired loans, with related allowance, unpaid principal balance | 0 | 0 |
Impaired loans, recorded investment | 0 | 0 |
Impaired loans, unpaid principal balance | 0 | 0 |
Impaired loans, related allowance | $ 0 | $ 0 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan Losses Schedule of Impaired Loans With and Without an Allowance 2 (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, average recorded investment | $ 345 | $ 374 |
Impaired loans, with no related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 8,529 | 15,817 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, average recorded investment | 8,874 | 16,191 |
Impaired loans, interest income, accrual method | 0 | 0 |
Commercial [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, average recorded investment | 0 | 0 |
Impaired loans, with no related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 0 | 0 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, average recorded investment | 0 | 0 |
Impaired loans, interest income, accrual method | 0 | 0 |
Construction, land and land development [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, average recorded investment | 0 | 0 |
Impaired loans, with no related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 0 | 0 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, average recorded investment | 0 | 0 |
Impaired loans, interest income, accrual method | 0 | 0 |
1-4 family residential first mortgages [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, average recorded investment | 345 | 374 |
Impaired loans, with no related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 0 | 0 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, average recorded investment | 345 | 374 |
Impaired loans, interest income, accrual method | 0 | 0 |
Home equity [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, average recorded investment | 0 | 0 |
Impaired loans, with no related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 0 | 0 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, average recorded investment | 0 | 0 |
Impaired loans, interest income, accrual method | 0 | 0 |
Commercial real estate [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, average recorded investment | 0 | 0 |
Impaired loans, with no related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 8,529 | 15,817 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, average recorded investment | 8,529 | 15,817 |
Impaired loans, interest income, accrual method | 0 | 0 |
Consumer and other [Member] | ||
Loans, Impaired [Line Items] | ||
Impaired loans, with no related allowance, average recorded investment | 0 | 0 |
Impaired loans, with no related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 0 | 0 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 |
Impaired loans, average recorded investment | 0 | 0 |
Impaired loans, interest income, accrual method | $ 0 | $ 0 |
Loans and Allowance for Loan _7
Loans and Allowance for Loan Losses Schedule of Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans, recorded investment, nonaccrual status | $ 8,800 | $ 8,948 |
Loans receivable, gross | 2,489,558 | 2,460,726 |
Commercial [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans, recorded investment, nonaccrual status | 0 | 0 |
Loans receivable, gross | 466,874 | 492,815 |
Construction, land and land development [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans, recorded investment, nonaccrual status | 0 | 0 |
Loans receivable, gross | 388,424 | 359,258 |
1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans, recorded investment, nonaccrual status | 342 | 349 |
Loans receivable, gross | 65,978 | 66,216 |
Home equity [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans, recorded investment, nonaccrual status | 0 | 0 |
Loans receivable, gross | 9,213 | 8,422 |
Commercial real estate [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans, recorded investment, nonaccrual status | 8,458 | 8,599 |
Loans receivable, gross | 1,555,001 | 1,530,218 |
Consumer and other [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans, recorded investment, nonaccrual status | 0 | 0 |
Loans receivable, gross | 4,068 | 3,797 |
Loans, 30 to 59 days past due [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 30 to 59 days past due [Member] | Commercial [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 30 to 59 days past due [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 30 to 59 days past due [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 30 to 59 days past due [Member] | Home equity [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 30 to 59 days past due [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 30 to 59 days past due [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 60 to 89 days past due [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 60 to 89 days past due [Member] | Commercial [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 60 to 89 days past due [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 60 to 89 days past due [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 60 to 89 days past due [Member] | Home equity [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 60 to 89 days past due [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, 60 to 89 days past due [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, equal to greater than 90 days past due [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, equal to greater than 90 days past due [Member] | Commercial [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, equal to greater than 90 days past due [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, equal to greater than 90 days past due [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, equal to greater than 90 days past due [Member] | Home equity [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, equal to greater than 90 days past due [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans, equal to greater than 90 days past due [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Total loans past due | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Total loans past due | Commercial [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Total loans past due | Construction, land and land development [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Total loans past due | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Total loans past due | Home equity [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Total loans past due | Commercial real estate [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Total loans past due | Consumer and other [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 0 | 0 |
Loans not past due | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 2,480,758 | 2,451,778 |
Loans not past due | Commercial [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 466,874 | 492,815 |
Loans not past due | Construction, land and land development [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 388,424 | 359,258 |
Loans not past due | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 65,636 | 65,867 |
Loans not past due | Home equity [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 9,213 | 8,422 |
Loans not past due | Commercial real estate [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | 1,546,543 | 1,521,619 |
Loans not past due | Consumer and other [Member] | ||
Loans, Recorded Investment, Payment Status [Line Items] | ||
Loans receivable, gross | $ 4,068 | $ 3,797 |
Loans and Allowance for Loan _8
Loans and Allowance for Loan Losses Schedule of Loans By Credit Quality Indicator (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Loans, Recorded Investment [Line Items] | ||
Loans | $ 2,489,558 | $ 2,460,726 |
Pass [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 2,419,879 | 2,387,638 |
Watch [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 60,764 | 64,025 |
Substandard [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 8,915 | 9,063 |
Doubtful [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 466,874 | 492,815 |
Commercial [Member] | Pass [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 466,615 | 492,545 |
Commercial [Member] | Watch [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 259 | 270 |
Commercial [Member] | Substandard [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial [Member] | Doubtful [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Construction, land and land development [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 388,424 | 359,258 |
Construction, land and land development [Member] | Pass [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 388,370 | 359,203 |
Construction, land and land development [Member] | Watch [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 54 | 55 |
Construction, land and land development [Member] | Substandard [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Construction, land and land development [Member] | Doubtful [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 65,978 | 66,216 |
1-4 family residential first mortgages [Member] | Pass [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 65,367 | 65,596 |
1-4 family residential first mortgages [Member] | Watch [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 154 | 156 |
1-4 family residential first mortgages [Member] | Substandard [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 457 | 464 |
1-4 family residential first mortgages [Member] | Doubtful [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Home equity [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 9,213 | 8,422 |
Home equity [Member] | Pass [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 9,213 | 8,422 |
Home equity [Member] | Watch [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Home equity [Member] | Substandard [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Home equity [Member] | Doubtful [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial real estate [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 1,555,001 | 1,530,218 |
Commercial real estate [Member] | Pass [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 1,486,246 | 1,458,075 |
Commercial real estate [Member] | Watch [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 60,297 | 63,544 |
Commercial real estate [Member] | Substandard [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 8,458 | 8,599 |
Commercial real estate [Member] | Doubtful [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer and other [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 4,068 | 3,797 |
Consumer and other [Member] | Pass [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 4,068 | 3,797 |
Consumer and other [Member] | Watch [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer and other [Member] | Substandard [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer and other [Member] | Doubtful [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | $ 0 | $ 0 |
Loans and Allowance for Loan _9
Loans and Allowance for Loan Losses Schedule of Allowance for Loan Loss Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Loans, Allowance for Credit Losses [Roll Forward] | |||
Allowance for loan losses, beginning balance | $ 28,364 | $ 29,436 | |
Allowance for loan losses, charge-offs | 0 | 0 | |
Allowance for loan losses, recoveries | 9 | 72 | |
Provision for loan losses | [1] | (750) | 500 |
Allowance for loan losses, ending balance | 27,623 | 30,008 | |
Commercial [Member] | |||
Loans, Allowance for Credit Losses [Roll Forward] | |||
Allowance for loan losses, beginning balance | 4,776 | 4,718 | |
Allowance for loan losses, charge-offs | 0 | 0 | |
Allowance for loan losses, recoveries | 4 | 67 | |
Provision for loan losses | (72) | (167) | |
Allowance for loan losses, ending balance | 4,708 | 4,618 | |
Construction, land and land development [Member] | |||
Loans, Allowance for Credit Losses [Roll Forward] | |||
Allowance for loan losses, beginning balance | 3,646 | 2,634 | |
Allowance for loan losses, charge-offs | 0 | 0 | |
Allowance for loan losses, recoveries | 0 | 0 | |
Provision for loan losses | 352 | 109 | |
Allowance for loan losses, ending balance | 3,998 | 2,743 | |
1-4 family residential first mortgages [Member] | |||
Loans, Allowance for Credit Losses [Roll Forward] | |||
Allowance for loan losses, beginning balance | 339 | 360 | |
Allowance for loan losses, charge-offs | 0 | 0 | |
Allowance for loan losses, recoveries | 1 | 1 | |
Provision for loan losses | 8 | 69 | |
Allowance for loan losses, ending balance | 348 | 430 | |
Home equity [Member] | |||
Loans, Allowance for Credit Losses [Roll Forward] | |||
Allowance for loan losses, beginning balance | 91 | 114 | |
Allowance for loan losses, charge-offs | 0 | 0 | |
Allowance for loan losses, recoveries | 1 | 1 | |
Provision for loan losses | 9 | (25) | |
Allowance for loan losses, ending balance | 101 | 90 | |
Commercial real estate [Member] | |||
Loans, Allowance for Credit Losses [Roll Forward] | |||
Allowance for loan losses, beginning balance | 19,466 | 21,535 | |
Allowance for loan losses, charge-offs | 0 | 0 | |
Allowance for loan losses, recoveries | 3 | 3 | |
Provision for loan losses | (1,052) | 519 | |
Allowance for loan losses, ending balance | 18,417 | 22,057 | |
Consumer and other [Member] | |||
Loans, Allowance for Credit Losses [Roll Forward] | |||
Allowance for loan losses, beginning balance | 46 | 75 | |
Allowance for loan losses, charge-offs | 0 | 0 | |
Allowance for loan losses, recoveries | 0 | 0 | |
Provision for loan losses | 5 | (5) | |
Allowance for loan losses, ending balance | $ 51 | $ 70 | |
[1] | The negative provisions for the various segments are related to the decline in outstanding balances in each of those portfolio segments during the time periods disclosed and/or improvement in the credit quality factors related to those portfolio segments. |
Loans and Allowance for Loan_10
Loans and Allowance for Loan Losses Schedule of Allowance for Loan Losses by Impairment Method (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Loans, Allowance for Loan Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | $ 2,500 | $ 2,500 |
Allowance for loan losses, collectively evaluated for impairment | 25,123 | 25,864 |
Allowance for loan losses | 27,623 | 28,364 |
Commercial [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, collectively evaluated for impairment | 4,708 | 4,776 |
Allowance for loan losses | 4,708 | 4,776 |
Construction, land and land development [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, collectively evaluated for impairment | 3,998 | 3,646 |
Allowance for loan losses | 3,998 | 3,646 |
1-4 family residential first mortgages [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, collectively evaluated for impairment | 348 | 339 |
Allowance for loan losses | 348 | 339 |
Home equity [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, collectively evaluated for impairment | 101 | 91 |
Allowance for loan losses | 101 | 91 |
Commercial real estate [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 2,500 | 2,500 |
Allowance for loan losses, collectively evaluated for impairment | 15,917 | 16,966 |
Allowance for loan losses | 18,417 | 19,466 |
Consumer and other [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, collectively evaluated for impairment | 51 | 46 |
Allowance for loan losses | $ 51 | $ 46 |
Loans and Allowance for Loan_11
Loans and Allowance for Loan Losses Schedule of Loans by Impairment Method (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Loans, Allowance for Loan Losses [Line Items] | ||
Loans, individually evaluated for impairment | $ 8,800 | $ 8,948 |
Loans, collectively evaluated for impairment | 2,480,758 | 2,451,778 |
Loans | 2,489,558 | 2,460,726 |
Commercial [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Loans, individually evaluated for impairment | 0 | 0 |
Loans, collectively evaluated for impairment | 466,874 | 492,815 |
Loans | 466,874 | 492,815 |
Construction, land and land development [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Loans, individually evaluated for impairment | 0 | 0 |
Loans, collectively evaluated for impairment | 388,424 | 359,258 |
Loans | 388,424 | 359,258 |
1-4 family residential first mortgages [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Loans, individually evaluated for impairment | 342 | 349 |
Loans, collectively evaluated for impairment | 65,636 | 65,867 |
Loans | 65,978 | 66,216 |
Home equity [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Loans, individually evaluated for impairment | 0 | 0 |
Loans, collectively evaluated for impairment | 9,213 | 8,422 |
Loans | 9,213 | 8,422 |
Commercial real estate [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Loans, individually evaluated for impairment | 8,458 | 8,599 |
Loans, collectively evaluated for impairment | 1,546,543 | 1,521,619 |
Loans | 1,555,001 | 1,530,218 |
Consumer and other [Member] | ||
Loans, Allowance for Loan Losses [Line Items] | ||
Loans, individually evaluated for impairment | 0 | 0 |
Loans, collectively evaluated for impairment | 4,068 | 3,797 |
Loans | $ 4,068 | $ 3,797 |
Loans and Allowance for Loan_12
Loans and Allowance for Loan Losses Narrative (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Commercial [Member] | ||
Loans Receivable [Line Items] | ||
Payroll Protection Program Loans | $ 9,398 | $ 22,206 |
Real estate [Member] | ||
Loans Receivable [Line Items] | ||
Loans pledged as collateral | $ 1,170,000 | $ 1,190,000 |
Derivatives (Details)
Derivatives (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2023 | Dec. 31, 2021 | |
Derivative [Line Items] | ||||
FHLB Advances repaid | $ 50,000 | |||
Interest rate swap [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | $ 170,992 | 172,008 | ||
Interest Rate Swaps Terminated | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | 100,000 | |||
Interest Rate Swaps Terminated | Not Designated as Hedging Instrument [Member] | Other Income | ||||
Derivative [Line Items] | ||||
Swap termination losses reclassified to noninterest income, before tax | $ 3,781 | |||
Other Liabilities [Member] | Interest rate swap [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Interest rate non-hedging derivative liability at fair value | (8,396) | (3,887) | ||
Other Assets [Member] | Interest rate swap [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Interest rate non-hedging derivative asset at fair value | 8,396 | 3,887 | ||
Cash Flow Hedging [Member] | Interest rate swap hedging rolling short-term funding [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | 125,000 | |||
Cash Flow Hedging [Member] | Interest rate swap hedging subordinated notes [Domain] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | 20,000 | |||
Cash Flow Hedging [Member] | Interest rate swap hedging deposit accounts [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | 110,000 | |||
Cash Flow Hedging [Member] | Interest rate swap [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | $ 255,000 | $ 255,000 | ||
Weighted average floating interest rate received | 0.66% | 0.39% | ||
Weighted average fixed interest rate paid | 2.09% | 2.09% | ||
Weighted average maturity - years | 3 years 10 months 24 days | 4 years 2 months 12 days | ||
Cash Flow Hedging [Member] | Interest rate swap [Member] | Designated as Hedging Instrument [Member] | Collateral Pledged | ||||
Derivative [Line Items] | ||||
Collateral posted | $ 0 | $ 4,500 | ||
Counterparty collateral posted | 12,580 | 0 | ||
Cash Flow Hedging [Member] | Interest Rate Swaps Terminated | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | 50,000 | |||
Cash Flow Hedging [Member] | Interest Rate Swaps Terminated | Designated as Hedging Instrument [Member] | Other Income | ||||
Derivative [Line Items] | ||||
Swap termination losses reclassified to noninterest income, before tax | 0 | $ (3,600) | ||
Cash Flow Hedging [Member] | Other Liabilities [Member] | Interest rate swap [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Interest rate cash flow hedge liability at fair value | 0 | (7,517) | ||
Cash Flow Hedging [Member] | Other Assets [Member] | Interest rate swap [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Interest rate cash flow hedge asset at fair value | $ 4,065 | $ 0 | ||
Forecast [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative instruments, gain (loss) reclassification from AOCI to interest expense, estimated net amount to be transferred | $ 3,651 |
Derivatives Pre-Tax Gains (Loss
Derivatives Pre-Tax Gains (Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized holding gains arising during the period | $ 10,536 | $ 7,763 |
Plus: reclassification adjustment for net losses realized in net income | (1,045) | (4,970) |
Designated as Hedging Instrument [Member] | Interest rate swap [Member] | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized holding gains arising during the period | 10,536 | 7,763 |
Designated as Hedging Instrument [Member] | Interest rate swap [Member] | Interest Expense [Member] | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Plus: reclassification adjustment for net losses realized in net income | (1,045) | (1,370) |
Designated as Hedging Instrument [Member] | Interest Rate Swaps Terminated | Other Income | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Swap termination losses reclassified to noninterest income, before tax | $ 0 | $ (3,600) |
Deferred Income Taxes Schedule
Deferred Income Taxes Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Deferred tax assets, allowance for loan losses | $ 6,988 | $ 7,176 |
Deferred tax assets, net unrealized losses on securities available for sale | 15,514 | 1,701 |
Deferred tax assets, net unrealized losses on interest rate swaps | 0 | 1,903 |
Deferred tax assets, lease liabilities | 1,423 | 1,502 |
Deferred tax assets, accrued expenses | 235 | 395 |
Deferred tax assets, restricted stock unit compensation | 465 | 821 |
Deferred tax assets, state net operating loss carryforward | 1,296 | 1,276 |
Deferred tax assets, other | 151 | 139 |
Deferred tax assets, gross | 26,072 | 14,913 |
Deferred tax liabilities, right-of-use assets | 1,372 | 1,450 |
Deferred tax liabilities, net deferred loan fees and costs | 250 | 247 |
Deferred tax liabilities, net unrealized gains on interest rate swaps | 1,027 | 0 |
Deferred tax liabilities, premises and equipment | 926 | 809 |
Deferred tax liabilities, other | 324 | 312 |
Deferred tax liabilities, gross | 3,899 | 2,818 |
Net deferred tax assets before valuation allowance | 22,173 | 12,095 |
Valuation allowance | (1,296) | (1,276) |
Net deferred tax assets | $ 20,877 | $ 10,819 |
Comprehensive Income Changes in
Comprehensive Income Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Accumulated Other Comprehensive Income, Changes [Roll Forward] | ||
Accumulated other comprehensive income (loss), balance beg. of period | $ (10,637) | |
Net current period other comprehensive income (loss), net of tax | (32,131) | $ 3,285 |
Accumulated other comprehensive income (loss), balance end of period | (42,768) | |
Unrealized gains (losses) on securities [Member] | ||
Accumulated Other Comprehensive Income, Changes [Roll Forward] | ||
Accumulated other comprehensive income (loss), balance beg. of period | (5,021) | 5,994 |
Other comprehensive income (loss) before reclassifications, net of tax | (40,782) | (6,237) |
Amounts reclassified from accumulated other comprehensive income, net of tax. | 0 | (3) |
Net current period other comprehensive income (loss), net of tax | (40,782) | (6,240) |
Accumulated other comprehensive income (loss), balance end of period | (45,803) | (246) |
Unrealized gains (losses) on derivatives [Member] | ||
Accumulated Other Comprehensive Income, Changes [Roll Forward] | ||
Accumulated other comprehensive income (loss), balance beg. of period | (5,616) | (17,840) |
Other comprehensive income (loss) before reclassifications, net of tax | 7,870 | 5,807 |
Amounts reclassified from accumulated other comprehensive income, net of tax. | 781 | 3,718 |
Net current period other comprehensive income (loss), net of tax | 8,651 | 9,525 |
Accumulated other comprehensive income (loss), balance end of period | 3,035 | (8,315) |
Accumulated other comprehensive income (loss) [Member] | ||
Accumulated Other Comprehensive Income, Changes [Roll Forward] | ||
Accumulated other comprehensive income (loss), balance beg. of period | (10,637) | (11,846) |
Other comprehensive income (loss) before reclassifications, net of tax | (32,912) | (430) |
Amounts reclassified from accumulated other comprehensive income, net of tax. | 781 | 3,715 |
Net current period other comprehensive income (loss), net of tax | (32,131) | 3,285 |
Accumulated other comprehensive income (loss), balance end of period | $ (42,768) | $ (8,561) |
Commitments and Contingencies_3
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Commitments [Line Items] | ||
Outstanding loan commitments | $ 1,042,591 | $ 897,649 |
Commitments to fund real estate construction loans [Member] | ||
Commitments [Line Items] | ||
Outstanding loan commitments | 290,261 | 294,580 |
Other commitments to extend credit [Member] | ||
Commitments [Line Items] | ||
Outstanding loan commitments | 735,200 | 585,678 |
Standby letters of credit [Member] | ||
Commitments [Line Items] | ||
Outstanding loan commitments | $ 17,130 | $ 17,391 |
Commitments and Contingencies N
Commitments and Contingencies Narrative (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Commitments and Contingencies Disclosure [Abstract] | ||
FHLB MPF program - remaining outstanding balance of loans sold | $ 26,676 | $ 31,552 |
Commitments and Contingencies C
Commitments and Contingencies Contractual Commitments (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Affordable Housing Project Investment | ||
Long-term Purchase Commitment [Line Items] | ||
Contractual Obligation | $ 3,947 | $ 3,986 |
Fair Value Measurements Recurri
Fair Value Measurements Recurring Basis by Level (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | $ 797,912 | $ 758,822 |
Fair Value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, interest rate swaps | 12,461 | 3,887 |
Derivative liability, interest rate swaps | 8,396 | 11,404 |
Fair Value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, interest rate swaps | 0 | 0 |
Derivative liability, interest rate swaps | 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] | ||
Derivative asset, interest rate swaps | 12,461 | 3,887 |
Derivative liability, interest rate swaps | 8,396 | 11,404 |
Fair Value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, interest rate swaps | 0 | 0 |
Derivative liability, interest rate swaps | 0 | 0 |
State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 223,036 | 232,447 |
State and political subdivisions [Member] | Fair Value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 223,036 | 232,447 |
State and political subdivisions [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
State and political subdivisions [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 223,036 | 232,447 |
State and political subdivisions [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Collateralized mortgage obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 357,777 | 320,773 |
Collateralized mortgage obligations [Member] | Fair Value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 357,777 | 320,773 |
Collateralized mortgage obligations [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Collateralized mortgage obligations [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 357,777 | 320,773 |
Collateralized mortgage obligations [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 166,111 | 155,060 |
Mortgage-backed securities [Member] | Fair Value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 166,111 | 155,060 |
Mortgage-backed securities [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Mortgage-backed securities [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 166,111 | 155,060 |
Mortgage-backed securities [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Collateralized loan obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 37,707 | 37,782 |
Collateralized loan obligations [Member] | Fair Value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 37,707 | 37,782 |
Collateralized loan obligations [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Collateralized loan obligations [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 37,707 | 37,782 |
Collateralized loan obligations [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Corporate notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 13,281 | 12,760 |
Corporate notes [Member] | Fair Value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 13,281 | 12,760 |
Corporate notes [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Corporate notes [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 13,281 | 12,760 |
Corporate notes [Member] | Fair Value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | $ 0 | $ 0 |
Fair Value Measurements Nonrecu
Fair Value Measurements Nonrecurring Basis by Level (Details) - Fair value, measurements, nonrecurring [Member] - Fair value, inputs, level 3 [Member] - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 5,958 | $ 6,099 |
Carrying value of collateral dependent impaired loans before specific reserve | 8,458 | 8,599 |
Specific reserve related to collateral dependent impaired loans | $ 2,500 | $ 2,500 |
Fair Value Measurements Carryin
Fair Value Measurements Carrying Amounts and Fair Values (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Carrying value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | $ 21,896 | $ 17,555 |
Federal funds sold | 122,359 | 175,270 |
Securities available for sale | 797,912 | 758,822 |
Federal Home Loan Bank stock | 10,269 | 9,965 |
Loans, net | 2,457,743 | 2,427,832 |
Accrued interest receivable | 10,083 | 8,890 |
Derivative asset, interest rate swaps | 12,461 | 3,887 |
Deposits | 3,091,252 | 3,016,005 |
Federal funds purchased | 0 | 2,880 |
Subordinated notes, net | 20,468 | 20,465 |
Federal Home Loan Bank advances | 125,000 | 125,000 |
Long-term debt | 51,486 | 51,521 |
Accrued interest payable | 588 | 519 |
Derivative liability, interest rate swaps | 8,396 | 11,404 |
Cash and due from banks | 21,896 | 17,555 |
Federal funds sold | 122,359 | 175,270 |
Securities available for sale | 797,912 | 758,822 |
Federal Home Loan Bank stock | 10,269 | 9,965 |
Loans, net | 2,457,743 | 2,427,832 |
Accrued interest receivable | 10,083 | 8,890 |
Deposits | 3,091,252 | 3,016,005 |
Federal funds purchased | 0 | 2,880 |
Federal Home Loan Bank advances | 125,000 | 125,000 |
Fair value, inputs, level 1 [Member] | Approximate fair value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 21,896 | 17,555 |
Federal funds sold | 122,359 | 175,270 |
Federal Home Loan Bank stock | 10,269 | 9,965 |
Accrued interest receivable | 10,083 | 8,890 |
Federal funds purchased | 0 | 2,880 |
Accrued interest payable | 588 | 519 |
Fair value, inputs, level 2 [Member] | Approximate fair value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | 797,912 | 758,822 |
Loans, net | 2,393,120 | 2,446,982 |
Derivative asset, interest rate swaps | 12,461 | 3,887 |
Deposits | 3,091,479 | 3,016,305 |
Subordinated notes, net | 15,788 | 17,122 |
Federal Home Loan Bank advances | 125,000 | 125,000 |
Long-term debt | 51,486 | 51,521 |
Derivative liability, interest rate swaps | 8,396 | 11,404 |
Fair value, inputs, level 3 [Member] | Approximate fair value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 5,958 | 6,099 |
Commitments to extend credit | Carrying value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Commitments to extend credit | Fair value, inputs, level 1 [Member] | Approximate fair value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Commitments to extend credit | Fair value, inputs, level 2 [Member] | Approximate fair value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Commitments to extend credit | Fair value, inputs, level 3 [Member] | Approximate fair value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Standby letters of credit | Carrying value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Standby letters of credit | Fair value, inputs, level 1 [Member] | Approximate fair value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Standby letters of credit | Fair value, inputs, level 2 [Member] | Approximate fair value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Standby letters of credit | Fair value, inputs, level 3 [Member] | Approximate fair value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | $ 0 | $ 0 |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Measurements Narratives (Details) | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Fair Value Disclosures [Abstract] | |
Transfers between levels, fair value disclosure | $ 0 |