Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 01, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | EQBK | |
Entity Registrant Name | EQUITY BANCSHARES INC | |
Entity Central Index Key | 0001227500 | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Class A Common Stock, Shares Outstanding | 16,091,406 | |
Entity File Number | 001-37624 | |
Entity Tax Identification Number | 72-1532188 | |
Entity Address, Address Line One | 7701 East Kellogg Drive | |
Entity Address, Address Line Two | Suite 300 | |
Entity Address, City or Town | Wichita | |
Entity Address, State or Province | KS | |
Entity Address, Postal Zip Code | 67207 | |
City Area Code | 316 | |
Local Phone Number | 612.6000 | |
Entity Interactive Data Current | Yes | |
Title of 12(b) Security | Class A, Common Stock, par value $0.01 per share | |
Security Exchange Name | NASDAQ | |
Entity Incorporation, State or Country Code | KS | |
Document Quarterly Report | true | |
Document Transition Report | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 103,126,000 | $ 259,131,000 |
Federal funds sold | 458,000 | 823,000 |
Cash and cash equivalents | 103,584,000 | 259,954,000 |
Available-for-sale securities | 1,288,180,000 | 1,327,442,000 |
Loans held for sale | 1,714,000 | 4,214,000 |
Loans, net of allowance for credit losses of $48,238 and $48,365 | 3,175,208,000 | 3,107,262,000 |
Other real estate owned, net | 12,969,000 | 9,523,000 |
Premises and equipment, net | 101,212,000 | 104,038,000 |
Bank-owned life insurance | 121,665,000 | 120,787,000 |
Federal Reserve Bank and Federal Home Loan Bank stock | 21,479,000 | 17,510,000 |
Interest receivable | 16,519,000 | 18,048,000 |
Goodwill | 53,101,000 | 54,465,000 |
Core deposit intangibles, net | 12,554,000 | 14,879,000 |
Other | 93,971,000 | 99,509,000 |
Total assets | 5,002,156,000 | 5,137,631,000 |
Deposits | ||
Demand | 1,194,863,000 | 1,244,117,000 |
Total non-interest-bearing deposits | 1,194,863,000 | 1,244,117,000 |
Demand, savings and money market | 2,445,545,000 | 2,522,289,000 |
Time | 651,363,000 | 653,598,000 |
Total interest-bearing deposits | 3,096,908,000 | 3,175,887,000 |
Total deposits | 4,291,771,000 | 4,420,004,000 |
Federal funds purchased and retail repurchase agreements | 52,750,000 | 56,006,000 |
Federal Home Loan Bank advances | 80,000,000 | 0 |
Subordinated debt | 96,135,000 | 95,885,000 |
Contractual obligations | 15,813,000 | 17,692,000 |
Interest payable and other liabilities | 37,572,000 | 47,413,000 |
Total liabilities | 4,574,041,000 | 4,637,000,000 |
Commitments and contingent liabilities | ||
Stockholders' equity | ||
Common stock | 204,000 | 203,000 |
Additional paid-in capital | 480,897,000 | 478,862,000 |
Retained earnings | 116,576,000 | 88,324,000 |
Accumulated other comprehensive income (loss), net of tax | (77,426,000) | 1,776,000 |
Treasury stock | (92,136,000) | (68,534,000) |
Total stockholders’ equity | 428,115,000 | 500,631,000 |
Total liabilities and stockholders’ equity | $ 5,002,156,000 | $ 5,137,631,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Statement Of Financial Position [Abstract] | ||||||
Loans, allowance for credit losses | $ 48,238 | $ 47,590 | $ 48,365 | $ 51,834 | $ 55,525 | $ 33,709 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest and dividend income | ||||
Loans, including fees | $ 36,849 | $ 33,810 | $ 73,155 | $ 64,811 |
Securities, taxable | 5,584 | 3,523 | 10,975 | 7,322 |
Securities, nontaxable | 678 | 717 | 1,333 | 1,441 |
Federal funds sold and other | 513 | 268 | 813 | 556 |
Total interest and dividend income | 43,624 | 38,318 | 86,276 | 74,130 |
Interest expense | ||||
Deposits | 2,183 | 2,025 | 3,905 | 4,435 |
Federal funds purchased and retail repurchase agreements | 46 | 26 | 79 | 48 |
Federal Home Loan Bank advances | 176 | 80 | 185 | 145 |
Subordinated debt | 1,653 | 1,557 | 3,252 | 3,113 |
Total interest expense | 4,058 | 3,688 | 7,421 | 7,741 |
Net interest income | 39,566 | 34,630 | 78,855 | 66,389 |
Provision (reversal) for credit losses | 824 | (1,657) | 412 | (7,413) |
Net interest income after provision (reversal) for credit losses | 38,742 | 36,287 | 78,443 | 73,802 |
Non-interest income | ||||
Increase in value of bank-owned life insurance | 736 | 676 | 1,601 | 1,277 |
Net gain on acquisition and branch sales | 540 | 663 | 540 | 585 |
Net gain (loss) from securities transactions | (32) | 8 | 17 | |
Other | 2,538 | 2,065 | 4,943 | 3,356 |
Total non-interest income | 9,637 | 9,100 | 18,659 | 15,812 |
Non-interest expense | ||||
Salaries and employee benefits | 15,383 | 12,769 | 30,451 | 25,491 |
Net occupancy and equipment | 3,007 | 2,327 | 6,177 | 4,695 |
Data processing | 3,642 | 3,474 | 7,411 | 6,137 |
Professional fees | 1,111 | 999 | 2,282 | 2,072 |
Advertising and business development | 972 | 799 | 1,948 | 1,481 |
Telecommunications | 442 | 512 | 912 | 1,092 |
FDIC insurance | 260 | 425 | 440 | 840 |
Courier and postage | 489 | 327 | 912 | 696 |
Free nationwide ATM cost | 541 | 513 | 1,042 | 985 |
Amortization of core deposit intangibles | 1,111 | 1,030 | 2,161 | 2,064 |
Loan expense | 207 | 181 | 392 | 419 |
Other real estate owned | 14 | (468) | 13 | (463) |
Merger expenses | 88 | 460 | 411 | 612 |
Other | 4,169 | 2,458 | 6,343 | 4,566 |
Total non-interest expense | 31,436 | 25,806 | 60,895 | 50,687 |
Income (loss) before income taxes | 16,943 | 19,581 | 36,207 | 38,927 |
Provision (benefit) for income taxes | 1,684 | 4,415 | 5,298 | 8,686 |
Net income (loss) and net income (loss) allocable to common stockholders | $ 15,259 | $ 15,166 | $ 30,909 | $ 30,241 |
Basic earnings (loss) per share | $ 0.95 | $ 1.06 | $ 1.88 | $ 2.10 |
Diluted earnings (loss) per share | $ 0.94 | $ 1.03 | $ 1.86 | $ 2.06 |
Service Charges and Fees [Member] | ||||
Non-interest income | ||||
Non-interest income | $ 2,617 | $ 2,169 | $ 5,139 | $ 3,765 |
Debit Card Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 2,810 | 2,679 | 5,438 | 5,029 |
Mortgage Banking [Member] | ||||
Non-interest income | ||||
Non-interest income | $ 428 | $ 848 | $ 990 | $ 1,783 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 15,259 | $ 15,166 | $ 30,909 | $ 30,241 |
Other comprehensive income (loss): | ||||
Unrealized holding gains (losses) arising during the period on available-for-sale securities | (35,364) | 1,911 | (104,703) | (8,458) |
Less: reclassification for net gains included in net income | 2 | (77) | ||
Unrealized holding gains (losses) arising during the period on cash flow hedges | (1,065) | (467) | ||
Total other comprehensive income (loss) | (36,427) | 1,911 | (105,247) | (8,458) |
Tax effect | 9,013 | (480) | 26,045 | 2,127 |
Other comprehensive income (loss), net of tax | (27,414) | 1,431 | (79,202) | (6,331) |
Comprehensive income (loss) | $ (12,155) | $ 16,597 | $ (48,293) | $ 23,910 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Cumulative Effect of Adopting ASU 2016-13 | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member] Cumulative Effect of Adopting ASU 2016-13 | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Employee Stock Loans [Member] |
Beginning balance at Dec. 31, 2020 | $ 407,649 | $ 174 | $ 386,820 | $ 50,787 | $ 19,781 | $ (49,870) | $ (43) | ||
Beginning balance, shares at Dec. 31, 2020 | 14,540,556 | ||||||||
Implementation of ASU 2016-13, current expected credit losses | Accounting Standards Update 2016-13 | $ (12,403) | $ (12,403) | |||||||
Net income | 30,241 | 30,241 | |||||||
Other comprehensive income (loss), net of tax effects | (6,331) | (6,331) | |||||||
Stock-based compensation | 1,660 | 1,660 | |||||||
Stock based compensation, shares | 9,351 | ||||||||
Common stock issued upon exercise of stock options | 675 | $ 1 | 674 | ||||||
Common stock issued upon exercise of stock options, shares | 49,236 | ||||||||
Common stock issued under stock-based incentive plan | $ 1 | (1) | |||||||
Common stock issued under stock-based incentive plan, shares | 72,424 | ||||||||
Common stock issued under employee stock purchase plan | 241 | 241 | |||||||
Common stock issued under employee stock purchase plan, share | 17,621 | ||||||||
Repayment on employee stock loans | 43 | 43 | |||||||
Treasury stock purchases | (8,780) | (8,780) | |||||||
Treasury stock purchases, shares | (329,016) | ||||||||
Ending balance at Jun. 30, 2021 | 412,995 | $ 176 | 389,394 | 68,625 | 13,450 | (58,650) | |||
Ending balance, shares at Jun. 30, 2021 | 14,360,172 | ||||||||
Beginning balance at Dec. 31, 2020 | 407,649 | $ 174 | 386,820 | 50,787 | 19,781 | (49,870) | $ (43) | ||
Beginning balance, shares at Dec. 31, 2020 | 14,540,556 | ||||||||
Ending balance at Dec. 31, 2021 | 500,631 | $ 203 | 478,862 | 88,324 | 1,776 | (68,534) | |||
Ending balance, shares at Dec. 31, 2021 | 16,760,115 | ||||||||
Beginning balance at Mar. 31, 2021 | 397,815 | $ 175 | 387,939 | 53,459 | 12,019 | (55,777) | |||
Beginning balance, shares at Mar. 31, 2021 | 14,383,913 | ||||||||
Net income | 15,166 | 15,166 | |||||||
Other comprehensive income (loss), net of tax effects | 1,431 | 1,431 | |||||||
Stock-based compensation | 948 | 948 | |||||||
Stock based compensation, shares | 9,351 | ||||||||
Common stock issued upon exercise of stock options | 508 | $ 1 | 507 | ||||||
Common stock issued upon exercise of stock options, shares | 37,753 | ||||||||
Common stock issued under stock-based incentive plan, shares | 25,159 | ||||||||
Treasury stock purchases | (2,873) | (2,873) | |||||||
Treasury stock purchases, shares | (96,004) | ||||||||
Ending balance at Jun. 30, 2021 | 412,995 | $ 176 | 389,394 | 68,625 | 13,450 | (58,650) | |||
Ending balance, shares at Jun. 30, 2021 | 14,360,172 | ||||||||
Beginning balance at Dec. 31, 2021 | 500,631 | $ 203 | 478,862 | 88,324 | 1,776 | (68,534) | |||
Beginning balance, shares at Dec. 31, 2021 | 16,760,115 | ||||||||
Net income | 30,909 | 30,909 | |||||||
Other comprehensive income (loss), net of tax effects | (79,202) | (79,202) | |||||||
Cash dividends - common stock per share | (2,608) | (2,608) | |||||||
Dividend equivalents - restricted stock units, per share | (49) | (49) | |||||||
Stock-based compensation | 1,548 | 1,548 | |||||||
Stock based compensation, shares | 624 | ||||||||
Common stock issued upon exercise of stock options | 97 | 97 | |||||||
Common stock issued upon exercise of stock options, shares | 7,156 | ||||||||
Common stock issued under stock-based incentive plan | $ 1 | (1) | |||||||
Common stock issued under stock-based incentive plan, shares | (64,876) | ||||||||
Common stock issued under employee stock purchase plan | 391 | 391 | |||||||
Common stock issued under employee stock purchase plan, share | 14,274 | ||||||||
Treasury stock purchases | (23,602) | (23,602) | |||||||
Treasury stock purchases, shares | (740,227) | ||||||||
Ending balance at Jun. 30, 2022 | 428,115 | $ 204 | 480,897 | 116,576 | (77,426) | (92,136) | |||
Ending balance, shares at Jun. 30, 2022 | 16,106,818 | ||||||||
Beginning balance at Mar. 31, 2022 | 452,015 | $ 204 | 480,106 | 102,632 | (50,012) | (80,915) | |||
Beginning balance, shares at Mar. 31, 2022 | 16,454,966 | ||||||||
Net income | 15,259 | 15,259 | |||||||
Other comprehensive income (loss), net of tax effects | (27,414) | (27,414) | |||||||
Cash dividends - common stock per share | (1,290) | (1,290) | |||||||
Dividend equivalents - restricted stock units, per share | (25) | (25) | |||||||
Stock-based compensation | 744 | 744 | |||||||
Stock based compensation, shares | 624 | ||||||||
Common stock issued upon exercise of stock options | 47 | 47 | |||||||
Common stock issued upon exercise of stock options, shares | 3,656 | ||||||||
Common stock issued under stock-based incentive plan, shares | (3,416) | ||||||||
Treasury stock purchases | (11,221) | (11,221) | |||||||
Treasury stock purchases, shares | (355,844) | ||||||||
Ending balance at Jun. 30, 2022 | $ 428,115 | $ 204 | $ 480,897 | $ 116,576 | $ (77,426) | $ (92,136) | |||
Ending balance, shares at Jun. 30, 2022 | 16,106,818 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended |
Jun. 30, 2022 | Jun. 30, 2022 | |
Statement Of Stockholders Equity [Abstract] | ||
Cash dividends declared per common share | $ 0.08 | $ 0.16 |
Restricted stock units dividend declared per share | $ 0.08 | $ 0.16 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities | ||
Net income | $ 30,909 | $ 30,241 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Stock-based compensation | 1,548 | 1,660 |
Depreciation | 2,313 | 2,024 |
Amortization of operating lease right-of-use asset | 352 | 200 |
Amortization of cloud computing implementation costs | 94 | 77 |
Provision (reversal) for credit losses | 412 | (7,413) |
Net amortization (accretion) of purchase valuation adjustments | (2,083) | 8,847 |
Amortization (accretion) of premiums and discounts on securities | 3,622 | 4,890 |
Amortization of intangible assets | 2,233 | 2,086 |
Deferred income taxes | (382) | 905 |
Federal Home Loan Bank stock dividends | (92) | (22) |
Loss (gain) on sales and valuation adjustments on other real estate owned | (108) | (775) |
Net loss (gain) on sales and settlements of securities | (77) | |
Change in unrealized (gains) losses on equity securities | 71 | (17) |
Loss (gain) on disposal of premises and equipment | (68) | (17) |
Loss (gain) on lease termination | (2) | |
Loss (gain) on sales of foreclosed assets | (49) | (6) |
Loss (gain) on sales of loans | (793) | (1,515) |
Originations of loans held for sale | (31,431) | (53,218) |
Proceeds from the sale of loans held for sale | 34,724 | 60,859 |
Increase in the value of bank-owned life insurance | (1,601) | (1,277) |
Change in fair value of derivatives recognized in earnings | (1,195) | (245) |
Gain on acquisition and branch sales | (540) | (585) |
Payments on operating lease payable | (411) | (246) |
Net change in: | ||
Interest receivable | 1,138 | 767 |
Other assets | 17,556 | 3,806 |
Interest payable and other liabilities | (13,006) | (3,788) |
Net cash provided by (used in) operating activities | 43,136 | 47,236 |
Cash flows (to) from investing activities | ||
Purchases of available-for-sale securities | (166,932) | (410,487) |
Proceeds from sales, calls, pay-downs and maturities of available-for-sale securities | 97,870 | 227,352 |
Net change in interest-bearing time deposits in other banks | 249 | |
Net change in loans | (93,562) | (47,046) |
Purchase of mortgage loans | (795) | (167,983) |
Purchase of government guaranteed loans | (2,293) | (3,861) |
Purchase of premises and equipment | (722) | (3,494) |
Proceeds from sale of premises and equipment | 78 | 23 |
Proceeds from sale of foreclosed assets | 20,368 | 123 |
Net redemptions (purchases) of Federal Home Loan Bank and Federal Reserve Bank stock | (3,876) | (2,017) |
Net redemptions (purchases) of correspondent and miscellaneous other stock | (1,970) | (68) |
Proceeds from sale of other real estate owned | 935 | 1,974 |
Purchase of bank-owned life insurance | (25,000) | |
Proceeds from bank-owned life insurance death benefits | 723 | |
Net cash paid from branch sale to United Bank and Trust | (22,939) | |
Net cash provided by (used in) investing activities | (173,115) | (430,235) |
Cash flows (to) from financing activities | ||
Net increase (decrease) in deposits | (75,470) | 239,953 |
Net change in federal funds purchased and retail repurchase agreements | (3,256) | 11,155 |
Proceeds from Federal Home Loan Bank term advances | 403,501 | 70,000 |
Principal repayments on Federal Home Loan Bank term advances | (323,501) | (70,929) |
Proceeds from Federal Reserve Bank discount window | 1,000 | 1,000 |
Principal payments on Federal Reserve Bank discount window | (1,000) | (1,000) |
Principal payments on employee stock loans | 43 | |
Proceeds from the exercise of employee stock options | 97 | 675 |
Proceeds from employee stock purchase plan | 391 | 241 |
Debt issuance cost | (16) | |
Purchase of treasury stock | (23,602) | (8,780) |
Net change in contractual obligations | (1,879) | (720) |
Dividends paid on common stock | (2,672) | |
Net cash provided by (used in) financing activities | (26,391) | 241,622 |
Net change in cash and cash equivalents | (156,370) | (141,377) |
Cash and cash equivalents, beginning of period | 259,954 | 280,698 |
Ending cash and cash equivalents | 103,584 | 139,321 |
Supplemental cash flow information: | ||
Interest paid | 7,295 | 8,157 |
Income taxes paid, net of refunds | 196 | 6,920 |
Supplemental noncash disclosures: | ||
Other real estate owned acquired in settlement of loans | 2,208 | 705 |
Other repossessed assets acquired in settlement of loans | 436 | $ 67 |
Other real estate owned recorded as a result of transferring non-operational branch right-of-use-asset | $ 2,210 |
BASIS OF PRESENTATION AND SUMMA
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2022 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The interim consolidated financial statements include the accounts of Equity Bancshares, Inc., its wholly-owned subsidiaries, EBAC, LLC and Equity Bank and Equity Bank’s wholly-owned subsidiaries, EBHQ, LLC and SA Holdings, Inc. These entities are collectively referred to as the “Company”. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited condensed interim consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial information. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, the interim statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis and all such adjustments are of a normal recurring nature. These financial statements and the accompanying notes should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2021, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 9, 2022. Operating results for the six months ended June 30, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, or any other period. Reclassifications Some items in prior financial statements were reclassified to conform to the current presentation. Management determined the items reclassified are immaterial to the consolidated financial statements taken as a whole and did not result in a change in equity or net income for the periods reported. Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848) In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815), Fair Value Hedging – Portfolio Layer Method provided guidance on how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. The guidance will be effective for the Company in fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. This guidance requires a modified retrospective basis by means of a cumulative-effect adjustment to the opening balance of retained earnings on the initial application date. The Company is currently evaluating the guidance but does not expect it will have a material financial impact on its financial condition, results of operations or cash flows. In March 2022, the FASB issued ASU 2022-02, Financial Instruments – Credit Losses (Topic 326), Trouble Debt Restructurings and Vintage Disclosures Financial Instruments – Credit Losses – Measured at Amortized Cost In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820), Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. |
SECURITIES
SECURITIES | 6 Months Ended |
Jun. 30, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
SECURITIES | NOTE 2 – SECURITIES The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are listed below. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value June 30, 2022 Available-for-sale securities U.S. Government-sponsored entities $ 123,550 $ — $ (12,158 ) $ — $ 111,392 U.S. Treasury securities 257,329 — (18,763 ) — 238,566 Mortgage-backed securities Government-sponsored residential mortgage-backed securities 599,868 56 (41,452 ) — 558,472 Private label residential mortgage-backed securities 198,447 — (18,990 ) — 179,457 Corporate 56,598 33 (1,588 ) — 55,043 Small Business Administration loan pools 14,864 — (553 ) — 14,311 State and political subdivisions 139,877 266 (9,204 ) — 130,939 $ 1,390,533 $ 355 $ (102,708 ) $ — $ 1,288,180 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value December 31, 2021 Available-for-sale securities U.S. Government-sponsored entities $ 124,898 $ 13 $ (1,504 ) $ — $ 123,407 U.S. Treasury securities 157,289 — (1,687 ) — 155,602 Mortgage-backed securities Government-sponsored residential mortgage-backed securities 661,584 10,215 (6,912 ) — 664,887 Private label residential mortgage-backed securities 173,717 — (2,029 ) — 171,688 Corporate 52,555 1,437 (215 ) — 53,777 Small Business Administration loan pools 16,568 13 (106 ) — 16,475 State and political subdivisions 138,404 3,618 (416 ) — 141,606 $ 1,325,015 $ 15,296 $ (12,869 ) $ — $ 1,327,442 The fair value and amortized cost of debt securities at June 30, 2022, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available-for-Sale Amortized Cost Fair Value Within one year $ 6,955 $ 6,978 One to five years 258,317 244,218 Five to ten years 244,867 225,103 After ten years 82,079 73,952 Mortgage-backed securities 798,315 737,929 Total debt securities $ 1,390,533 $ 1,288,180 The carrying value of securities pledged as collateral, to secure public deposits and for other purposes, was approximately $878,436 at June 30, 2022, and $892,182 at December 31, 2021. The following tables show gross unrealized losses and fair value, aggregated by investment category, and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2022, and December 31, 2021. Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss June 30, 2022 Available-for-sale securities U.S. Government-sponsored entities $ 111,392 $ (12,158 ) $ — $ — $ 111,392 $ (12,158 ) U.S. Treasury securities 238,566 (18,763 ) — — 238,566 (18,763 ) Mortgage-backed securities Government-sponsored residential mortgage-backed securities 433,909 (27,821 ) 115,996 (13,631 ) 549,905 (41,452 ) Private label residential mortgage-backed securities 168,463 (17,623 ) 10,994 (1,367 ) 179,457 (18,990 ) Corporate 52,510 (1,588 ) 52,510 (1,588 ) Small Business Administration loan pools 5,898 (531 ) 8,413 (22 ) 14,311 (553 ) State and political subdivisions 83,381 (9,204 ) 83,381 (9,204 ) Total temporarily impaired securities $ 1,094,119 $ (87,688 ) $ 135,403 $ (15,020 ) $ 1,229,522 $ (102,708 ) December 31, 2021 Available-for-sale securities U.S. Government-sponsored entities $ 117,618 $ (1,504 ) $ — $ — $ 117,618 $ (1,504 ) U.S. Treasury securities 155,601 (1,687 ) — — 155,601 (1,687 ) Mortgage-backed securities Government-sponsored residential mortgage-backed securities 378,057 (6,860 ) 2,868 (52 ) 380,925 (6,912 ) Private label residential mortgage-backed securities 159,381 (1,978 ) 2,208 (51 ) 161,589 (2,029 ) Corporate 4,785 (215 ) — — 4,785 (215 ) Small Business Administration loan pools 15,459 (106 ) — — 15,459 (106 ) State and political subdivisions 28,443 (416 ) — — 28,443 (416 ) Total temporarily impaired securities $ 859,344 $ (12,766 ) $ 5,076 $ (103 ) $ 864,420 $ (12,869 ) As of June 30, 2022, the Company held 514 available-for-sale securities in an unrealized loss position. Unrealized losses on securities have not been recognized into income because the security issuers are of high credit quality, management does not intend to sell, it is more likely than not that the Company will not be required to sell the securities prior to their anticipated recovery and the decline in fair value is largely due to changes in interest rates. The fair value is expected to recover as the securities approach maturity. The proceeds from sales and the associated gains and losses on available-for-sale securities reclassified from other comprehensive income to income are listed below. Three Months Ended June 30, Six Months Ended June 30, 2022 2022 Proceeds $ — $ 3,265 Gross gain — 115 Gross losses — 36 Income tax expense on net realized gains — 20 There were no proceeds from sales of available-for-sale securities during the three or six months ended June 30, 2021. |
LOANS AND ALLOWANCE FOR CREDIT
LOANS AND ALLOWANCE FOR CREDIT LOSSES | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Loans and Allowance for Credit Losses | NOTE 3 – LOANS AND ALLOWANCE FOR CREDIT LOSSES Types of loans and normal collateral securing those loans are listed below. Commercial real estate : Commercial real estate loans include all loans secured by nonfarm, nonresidential properties and by multifamily residential properties, as well as 1-4 family investment-purpose real estate loans. Commercial and industrial : Commercial and industrial loans include loans used to purchase fixed assets, provide working capital or meet other financing needs of the business. Loans are normally secured by the assets being purchased or already owned by the borrower, inventory or accounts receivable. These may include SBA and other guaranteed or partially guaranteed types of loans. Residential real estate : Residential real estate loans include loans secured by primary or secondary personal residences. Agricultural real estate : Agricultural real estate loans are loans typically secured by farmland. Agricultural : Agricultural loans are primarily operating lines subject to annual farming revenues including productivity/yield of the agricultural commodities produced. These loans may be secured by growing crops, stored crops, livestock, equipment, and miscellaneous receivables. Consumer : Consumer loans may include installment loans, unsecured and secured personal lines of credit, overdraft protection and letters of credit. These loans are generally secured by consumer assets but may be unsecured. The following table lists categories of loans at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Commercial real estate $ 1,643,068 $ 1,486,148 Commercial and industrial 578,899 567,497 Residential real estate 578,936 638,087 Agricultural real estate 197,938 198,330 Agricultural 124,753 166,975 Consumer 99,852 98,590 Total loans 3,223,446 3,155,627 Allowance for credit losses (48,238 ) (48,365 ) Net loans $ 3,175,208 $ 3,107,262 Included in the commercial and industrial loan balances at June 30, 2022, and December 31, 2021, are $7,440 and $44,783 of loans that were originated under the SBA PPP program. At June 30, 2022, and December 31, 2021, unamortized loan fees on these loans were $125 and $1,252. From time to time, the Company has purchased pools of residential real estate loans originated by other financial institutions to hold for investment with the intent to diversify the residential real estate portfolio. During the six months ended June 30, 2022, the Company purchased one pool of residential mortgage loans totaling $795. During the first six months of 2021, the Company purchased three pools of residential real estate loans totaling $168,206. As of June 30, 2022, and December 31, 2021, residential real estate loans include $343,966 and $372,069 of purchased residential real estate loans. The Company occasionally purchases the government guaranteed portion of loans originated by other financial institutions to hold for investment. During the six months ended June 30, 2022, the Company purchased $2,293 in loans guaranteed by governmental agencies. Government guaranteed loans totaling $3,861 were purchased in the six months ended June 30, 2021. The unamortized discount of merger purchase accounting adjustments related to non-purchase credit deteriorated loans included in the loan totals above are $4,548 with related loans of $368,703 at June 30, 2022, and $6,649 with related loans of $527,422 at December 31, 2021. Overdraft deposit accounts are reclassified and included in consumer loans above. These accounts totaled $577 at June 30, 2022, and $886 at December 31, 2021. The following tables present the activity in the allowance for credit losses by class for the three month periods ended June 30, 2022 and 2021. June 30, 2022 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Beginning balance $ 21,764 $ 13,814 $ 5,960 $ 1,542 $ 2,472 $ 2,038 $ 47,590 Provision for credit losses 911 (650 ) 870 (535 ) (182 ) 410 824 Loans charged-off (11 ) (35 ) (46 ) — (1 ) (289 ) (382 ) Recoveries 1 80 34 — — 91 206 Total ending allowance balance $ 22,665 $ 13,209 $ 6,818 $ 1,007 $ 2,289 $ 2,250 $ 48,238 June 30, 2021 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 15,118 $ 19,965 $ 11,511 $ 1,900 $ 4,349 $ 2,682 $ 55,525 Cumulative effect adjustment of adopting ASC 326 72 52 (11 ) (1 ) — 3 115 Impact of adopting ASC 326 - PCD loans (56 ) (1,898 ) (1 ) (226 ) 599 — (1,582 ) Provision for credit losses 91 578 (1,692 ) (354 ) (253 ) (27 ) (1,657 ) Loans charged-off — (54 ) (3 ) (490 ) (1 ) (165 ) (713 ) Recoveries — 47 4 18 1 76 146 Total ending allowance balance $ 15,225 $ 18,690 $ 9,808 $ 847 $ 4,695 $ 2,569 $ 51,834 The following tables present the activity in the allowance for credit losses by class for the six month periods ended June 30, 2022 and 2021. June 30, 2022 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Beginning balance $ 22,478 $ 12,248 $ 5,560 $ 2,235 $ 3,756 $ 2,088 $ 48,365 Provision for credit losses 419 922 1,272 (1,235 ) (1,466 ) 500 412 Loans charged-off (294 ) (79 ) (48 ) — (1 ) (494 ) (916 ) Recoveries 62 118 34 7 — 156 377 Total ending allowance balance $ 22,665 $ 13,209 $ 6,818 $ 1,007 $ 2,289 $ 2,250 $ 48,238 June 30, 2021 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 9,012 $ 12,456 $ 4,559 $ 904 $ 758 $ 6,020 $ 33,709 Cumulative effect adjustment of adopting ASC 326 5,612 4,167 8,870 167 (207 ) (2,877 ) 15,732 Impact of adopting ASC 326 - PCD loans 4,571 (218 ) 220 960 4,905 — 10,438 Provision for credit losses (4,044 ) 2,276 (3,834 ) (700 ) (764 ) (347 ) (7,413 ) Loans charged-off (53 ) (61 ) (12 ) (502 ) (1 ) (375 ) (1,004 ) Recoveries 127 70 5 18 4 148 372 Total ending allowance balance $ 15,225 $ 18,690 $ 9,808 $ 847 $ 4,695 $ 2,569 $ 51,834 The following tables present the recorded investment in loans and the balance in the allowance for credit losses by portfolio and class based on method to determine allowance for credit loss as of June 30, 2022, and December 31, 2021. June 30, 2022 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Individually evaluated for credit losses $ 1,188 $ 1,034 $ 723 $ 346 $ 1,923 $ 67 $ 5,281 Collectively evaluated for credit losses 21,477 12,175 6,095 661 366 2,183 42,957 Total $ 22,665 $ 13,209 $ 6,818 $ 1,007 $ 2,289 $ 2,250 $ 48,238 Loan Balance: Individually evaluated for credit losses $ 6,735 $ 5,993 $ 3,017 $ 4,067 $ 4,903 $ 276 $ 24,991 Collectively evaluated for credit losses 1,636,333 572,906 575,919 193,871 119,850 99,576 3,198,455 Total $ 1,643,068 $ 578,899 $ 578,936 $ 197,938 $ 124,753 $ 99,852 $ 3,223,446 December 31, 2021 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Individually evaluated for credit losses $ 4,381 $ 3,650 $ 892 $ 1,488 $ 3,546 $ 75 $ 14,032 Collectively evaluated for credit losses 18,097 8,598 4,668 747 210 2,013 34,333 Total $ 22,478 $ 12,248 $ 5,560 $ 2,235 $ 3,756 $ 2,088 $ 48,365 Loan Balance: Individually evaluated for credit losses $ 45,421 $ 13,786 $ 5,362 $ 14,959 $ 13,049 $ 357 $ 92,934 Collectively evaluated for credit losses 1,440,727 553,711 632,725 183,371 153,926 98,233 3,062,693 Total $ 1,486,148 $ 567,497 $ 638,087 $ 198,330 $ 166,975 $ 98,590 $ 3,155,627 The following table presents information related to nonaccrual loans and the level of collateral that supports the nonaccrual loans at June 30, 2022, and December 31, 2021. June 30, 2022 Unpaid Principal Balance Recorded Investment Allowance for Credit Losses Allocated With no related allowance recorded: Commercial real estate $ 2,989 $ 2,327 $ — Commercial and industrial 6,081 1,964 — Residential real estate 32 — — Agricultural real estate 1,276 1,140 — Agricultural 41 — — Consumer 19 — — Subtotal 10,438 5,431 — With an allowance recorded: Commercial real estate 3,353 2,778 930 Commercial and industrial 1,679 1,387 367 Residential real estate 3,147 2,903 718 Agricultural real estate 3,635 2,337 335 Agricultural 6,298 3,757 1,639 Consumer 335 267 66 Subtotal 18,447 13,429 4,055 Total $ 28,885 $ 18,860 $ 4,055 December 31, 2021 Unpaid Principal Balance Recorded Investment Allowance for Credit Losses Allocated With no related allowance recorded: Commercial real estate $ — $ — $ — Commercial and industrial 6,060 1,964 — Residential real estate 609 429 — Agricultural real estate 1,795 1,660 — Agricultural — — — Consumer 49 49 — Subtotal 8,513 4,102 — With an allowance recorded: Commercial real estate 7,690 6,833 1,632 Commercial and industrial 4,976 4,593 1,800 Residential real estate 5,170 4,646 888 Agricultural real estate 3,726 2,738 637 Agricultural 8,836 6,175 2,307 Consumer 314 274 74 Subtotal 30,712 25,259 7,338 Total $ 39,225 $ 29,361 $ 7,338 The table below presents average recorded investment and interest income related to nonaccrual loans for the three and six months ended June 30, 2022, and 2021. Interest income recognized in the following table was substantially recognized on the cash basis. The recorded investment in loans excludes accrued interest receivable due to immateriality. As of and for the three months ended June 30, 2022 June 30, 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 1,572 $ — $ — $ 2 Commercial and industrial 982 — — — Residential real estate 553 — 11 — Agricultural real estate 1,400 — 3,210 83 Agricultural — — 2,066 33 Consumer — — — 1 Subtotal 4,507 — 5,287 119 With an allowance recorded: Commercial real estate 2,800 — 8,010 3 Commercial and industrial 2,549 — 29,034 11 Residential real estate 3,160 1 2,752 2 Agricultural real estate 2,378 3 3,787 — Agricultural 4,072 — 8,033 10 Consumer 312 — 253 1 Subtotal 15,271 4 51,869 27 Total $ 19,778 $ 4 $ 57,156 $ 146 As of and for the six months ended June 30, 2022 June 30, 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 1,048 $ — $ 561 $ 3 Commercial and industrial 1,309 — 214 — Residential real estate 512 1 67 — Agricultural real estate 1,487 — 2,504 83 Agricultural — — 2,874 33 Consumer 16 — — 1 Subtotal 4,372 1 6,220 120 With an allowance recorded: Commercial real estate 4,144 — 7,306 18 Commercial and industrial 3,231 — 26,961 119 Residential real estate 3,655 1 2,760 2 Agricultural real estate 2,498 3 3,531 20 Agricultural 4,773 — 5,629 44 Consumer 299 — 260 1 Subtotal 18,600 4 46,447 204 Total $ 22,972 $ 5 $ 52,667 $ 324 The following tables present the aging of the recorded investment in past due loans as of June 30, 2022, and December 31, 2021, by portfolio and class of loans. June 30, 2022 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 598 $ 249 $ 386 $ 5,105 $ 1,636,730 $ 1,643,068 Commercial and industrial 655 2,923 — 3,351 571,970 578,899 Residential real estate 623 357 — 2,903 575,053 578,936 Agricultural real estate 7 — — 3,477 194,454 197,938 Agricultural 1 95 — 3,757 120,900 124,753 Consumer 466 47 — 267 99,072 99,852 Total $ 2,350 $ 3,671 $ 386 $ 18,860 $ 3,198,179 $ 3,223,446 December 31, 2021 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 4,633 $ 408 $ 256 $ 6,833 $ 1,474,018 $ 1,486,148 Commercial and industrial 424 88 — 6,557 560,428 567,497 Residential real estate 620 1,126 — 5,075 631,266 638,087 Agricultural real estate 28 57 — 4,398 193,847 198,330 Agricultural 5 — — 6,175 160,795 166,975 Consumer 316 61 — 323 97,890 98,590 Total $ 6,026 $ 1,740 $ 256 $ 29,361 $ 3,118,244 $ 3,155,627 Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. Consumer loans are considered pass credits unless downgraded due to payment status or reviewed as part of a larger credit relationship. Loans that participated in the short-term deferral program are not automatically considered classified solely due to a deferral, are subject to ongoing monitoring and will be downgraded or placed on nonaccrual if a noted weakness exists. The Company uses the following definitions for risk ratings. Pass: Special Mention Substandard Doubtful Based on the most recent analysis performed, the risk category of loans, by type and year of origination, at June 30, 2022, is as follows. June 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Revolving Loans Converted to Term Total Commercial real estate Risk rating Pass $ 229,399 $ 278,359 $ 210,424 $ 133,787 $ 125,997 $ 206,294 $ 447,861 $ 1,318 $ 1,633,439 Special mention 294 220 — — — 576 — — 1,090 Substandard — 3,145 369 173 73 4,170 609 — 8,539 Doubtful — — — — — — — — — Total commercial real estate $ 229,693 $ 281,724 $ 210,793 $ 133,960 $ 126,070 $ 211,040 $ 448,470 $ 1,318 $ 1,643,068 Commercial and industrial Risk rating Pass $ 113,838 $ 108,123 $ 79,707 $ 46,546 $ 8,109 $ 14,022 $ 177,644 $ 2,027 $ 550,016 Special mention — — — — 693 3,775 — — 4,468 Substandard 148 4,215 2,913 10,162 1,480 831 4,666 — 24,415 Doubtful — — — — — — — — — Total commercial and industrial $ 113,986 $ 112,338 $ 82,620 $ 56,708 $ 10,282 $ 18,628 $ 182,311 $ 2,026 $ 578,899 Residential real estate Risk rating Pass $ 17,504 $ 311,614 $ 6,352 $ 16,170 $ 52,637 $ 115,386 $ 56,027 $ 152 $ 575,842 Special mention — — — — — 24 — — 24 Substandard — — 52 47 223 2,673 75 — 3,070 Doubtful — — — — — — — — — Total residential real estate $ 17,504 $ 311,614 $ 6,404 $ 16,217 $ 52,860 $ 118,083 $ 56,102 $ 152 $ 578,936 Agricultural real estate Risk rating Pass $ 18,490 $ 24,251 $ 30,299 $ 20,000 $ 9,169 $ 23,511 $ 67,465 $ 300 $ 193,485 Special mention — — — — — 486 22 — 508 Substandard 107 1,519 — 117 467 1,292 443 — 3,945 Doubtful — — — — — — — — — Total agricultural real estate $ 18,597 $ 25,770 $ 30,299 $ 20,117 $ 9,636 $ 25,289 $ 67,930 $ 300 $ 197,938 Agricultural Risk rating Pass $ 14,040 $ 14,438 $ 13,361 $ 3,702 $ 2,641 $ 2,575 $ 65,845 $ 75 $ 116,677 Special mention — — — 86 32 375 — — 493 Substandard — 1,724 1,925 2,086 388 251 1,209 — 7,583 Doubtful — — — — — — — — — Total agricultural $ 14,040 $ 16,162 $ 15,286 $ 5,874 $ 3,061 $ 3,201 $ 67,054 $ 75 $ 124,753 Consumer Risk rating Pass $ 39,242 $ 23,191 $ 11,006 $ 4,740 $ 2,264 $ 4,234 $ 14,907 $ 1 $ 99,585 Special mention — — — — — — — — — Substandard — 41 66 96 25 39 — — 267 Doubtful — — — — — — — — — Total consumer $ 39,242 $ 23,232 $ 11,072 $ 4,836 $ 2,289 $ 4,273 $ 14,907 $ 1 $ 99,852 Total loans Risk rating Pass $ 432,513 $ 759,976 $ 351,149 $ 224,945 $ 200,817 $ 366,022 $ 829,749 $ 3,873 $ 3,169,044 Special mention 294 220 — 86 725 5,236 22 — 6,583 Substandard 255 10,644 5,325 12,681 2,656 9,256 7,002 — 47,819 Doubtful — — — — — — — — — Total loans $ 433,062 $ 770,840 $ 356,474 $ 237,712 $ 204,198 $ 380,514 $ 836,773 $ 3,873 $ 3,223,446 Based on the analysis performed at December 31, 2021, the risk category of loans, by type and year of origination is as follows. December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Revolving Loans Converted to Term Total Commercial real estate Risk rating Pass $ 301,947 $ 212,444 $ 159,374 $ 134,465 $ 72,249 $ 164,363 $ 409,109 $ 594 $ 1,454,545 Special mention 126 885 — 11,817 1,168 8,705 — — 22,701 Substandard 1,687 401 145 77 828 5,764 — — 8,902 Doubtful — — — — — — — — — Total commercial real estate $ 303,760 $ 213,730 $ 159,519 $ 146,359 $ 74,245 $ 178,832 $ 409,109 $ 594 $ 1,486,148 Commercial and industrial Risk rating Pass $ 170,263 $ 100,457 $ 57,955 $ 11,019 $ 17,327 $ 8,855 $ 155,181 $ 9,726 $ 530,783 Special mention 19 — 1,958 1,482 284 5,750 — — 9,493 Substandard 4,200 5,410 10,238 1,417 444 43 5,469 — 27,221 Doubtful — — — — — — — — — Total commercial and industrial $ 174,482 $ 105,867 $ 70,151 $ 13,918 $ 18,055 $ 14,648 $ 160,650 $ 9,726 $ 567,497 Residential real estate Risk rating Pass $ 336,775 $ 24,633 $ 22,520 $ 60,461 $ 34,453 $ 102,363 $ 51,584 $ 184 $ 632,973 Special mention — — — — — 25 — — 25 Substandard — 79 48 159 1,909 2,740 154 — 5,089 Doubtful — — — — — — — — — Total residential real estate $ 336,775 $ 24,712 $ 22,568 $ 60,620 $ 36,362 $ 105,128 $ 51,738 $ 184 $ 638,087 Agricultural real estate Risk rating Pass $ 38,412 $ 36,667 $ 18,442 $ 12,142 $ 14,432 $ 21,792 $ 42,541 $ — $ 184,428 Special mention 682 — — — 40 456 32 — 1,210 Substandard 1,705 206 6,020 592 2,530 554 1,085 — 12,692 Doubtful — — — — — — — — — Total agricultural real estate $ 40,799 $ 36,873 $ 24,462 $ 12,734 $ 17,002 $ 22,802 $ 43,658 $ — $ 198,330 Agricultural Risk rating Pass $ 27,637 $ 17,393 $ 6,391 $ 2,399 $ 2,930 $ 1,593 $ 93,982 $ 172 $ 152,497 Special mention — — 90 1,299 — 645 — — 2,034 Substandard 3,456 2,112 1,414 1,651 137 1,164 2,510 — 12,444 Doubtful — — — — — — — — — Total agricultural $ 31,093 $ 19,505 $ 7,895 $ 5,349 $ 3,067 $ 3,402 $ 96,492 $ 172 $ 166,975 Consumer Risk rating Pass $ 40,692 $ 15,171 $ 7,186 $ 3,640 $ 2,228 $ 3,551 $ 25,799 $ 1 $ 98,268 Special mention — — — — — — — — — Substandard 6 154 94 15 24 29 — — 322 Doubtful — — — — — — — — — Total consumer $ 40,698 $ 15,325 $ 7,280 $ 3,655 $ 2,252 $ 3,580 $ 25,799 $ 1 $ 98,590 Total loans Risk rating Pass $ 915,726 $ 406,765 $ 271,868 $ 224,126 $ 143,619 $ 302,517 $ 778,196 $ 10,677 $ 3,053,494 Special mention 827 885 2,048 14,598 1,492 15,581 32 — 35,463 Substandard 11,054 8,362 17,959 3,911 5,872 10,294 9,218 — 66,670 Doubtful — — — — — — — — — Total loans $ 927,607 $ 416,012 $ 291,875 $ 242,635 $ 150,983 $ 328,392 $ 787,446 $ 10,677 $ 3,155,627 Troubled Debt Restructurings (“TDR”) Consistent with accounting and regulatory guidance, the Company recognizes a TDR when the Company, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that would not normally be considered. Regardless of the form of concession granted, the Company’s objective in offering a TDR is to increase the probability of repayment of the borrower’s loans. The following table summarizes the Company’s TDRs by accrual status at June 30, 2022, and December 31, 2021. The allowance for credit losses on nonaccrual loans represents specific loan reserves, while the allowance on accrual loans represents collectively evaluated estimated losses. June 30, 2022 Nonaccrual Related Allowance for Credit Losses Accrual Related Allowance for Credit Losses Total TDR Loan Balance Total Related Allowance for Credit Losses Commercial real estate $ 4,045 $ 688 $ 4,226 $ 251 $ 8,271 $ 939 Commercial and industrial 2,321 109 1,813 223 4,134 332 Residential real estate — — — — — — Agricultural real estate 1,181 602 1,650 284 2,831 886 Agricultural 2,956 189 — — 2,956 189 Total troubled debt restructurings $ 10,503 $ 1,588 $ 7,689 $ 758 $ 18,192 $ 2,346 December 31, 2021 Nonaccrual Related Allowance for Credit Losses Commercial real estate $ 5,784 $ 1,370 Commercial and industrial 54 27 Residential real estate 1,547 13 Agricultural real estate 2,122 488 Agricultural 1,292 480 Total troubled debt restructurings $ 10,799 $ 2,378 At June 30, 2022, and December 31, 2021, there were no commitments to lend additional amounts on these loans. During the three and six month periods ending June 30, 2022, there were a total of $2,412 and $8,743 in loan modifications considered to be troubled debt restructurings. There were no loan modifications considered to be troubled debt restructurings that occurred during the three or six month periods ended June 30, 2021. There was $15 The Company had $752 thousand in agricultural loans that subsequently defaulted on their modified terms within the twelve months preceding June 30, 2022, as compared to no loans at June 30, 2021. Default is determined at 90 or more days past due, charge-off, or foreclosure. As of June 30, 2022, the Company had no loans deferred as compared to December 31, 2021, with 20 deferrals of either the full loan payment or the principal component of the loan payment on outstanding loan balances of $36.3 million in connection with the COVID-19 relief provided by the CARES Act. These deferrals were not considered troubled debt restructurings based on the CARES Act, Consolidated Appropriations Act (“CAA”), or regulatory guidance. The following table lists loans included in the payment deferral program under the CARES Act by deferment type and category at December 31, 2021. There were no CARES Act deferred loans at June 30, 2022. December 31, 2021 Commercial Real Estate Commercial and Industrial Total 3 months principal and interest, then 6 months principal only $ 31,884 $ 3,052 $ 34,936 6 months principal and interest, then 9 months principal only 971 398 1,369 Total loans $ 32,855 $ 3,450 $ 36,305 The classification status of loans participating in the payment deferral program at December 31, 2021, is listed below. There were no such deferrals at June 30, 2022. December 31, 2021 Unclassified Classified Total Commercial real estate $ 32,855 $ — $ 32,855 Commercial and industrial 3,450 — 3,450 Total loans $ 36,305 $ — $ 36,305 Allowance for Credit Losses on Off-Balance-Sheet Credit Exposures The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk from a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses on off-balance-sheet credit exposures is adjusted as a provision for credit loss expense recognized within other non-interest expense on the consolidated statements of income and included in other liabilities on the consolidated balance sheets. The estimated credit loss includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The estimate of expected credit loss is based on the historical loss rate for the class of loan the commitments would be classified as if funded. The following table lists allowance for credit losses on off-balance-sheet credit exposures as of June 30, 2022, and December 31, 2021. Allowance for Credit Losses June 30, 2022 December 31, 2021 Commercial real estate $ 402 $ 484 Commercial and industrial 742 1,323 Residential real estate 49 16 Agricultural 4 3 Consumer 321 397 Total allowance for credit losses $ 1,518 $ 2,223 |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | NOTE 4 – DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to interest-rate risk primarily from the effect of interest rate changes on its interest-earning assets and its sources of funding these assets. The Company will periodically enter into interest rate swaps or interest rate caps/floors to manage certain interest rate risk exposure. Interest Rate Swaps Designated as Fair Value Hedges The Company periodically enters into interest rate swaps to hedge the fair value of certain commercial real estate loans. These transactions are designated as fair value hedges. In this type of transaction, the Company typically receives from the counterparty a variable-rate cash flow based on the one-month London Interbank Offered Rate (“LIBOR”) plus a spread to this index and pays a fixed-rate cash flow equal to the customer loan rate. At June 30, 2022, the portfolio of interest rate swaps had a weighted average maturity of 9.03 years, a weighted average pay rate of 4.54% and a weighted average rate received of 3.01%. At December 31, 2021, the portfolio of interest rate swaps had a weighted average maturity of 8.8 years, a weighted average pay rate of 4.63% and a weighted average rate received of 3.11%. Interest Rate Swaps Designated as Cash Flow Hedges The Company has entered into cash flow hedges to hedge future cash flows related to subordinated notes interest expense and prime rate adjustable rate loans interest income. These agreements are designated as cash flow hedges and are marked to market through other comprehensive income. June 30, 2022 December 31, 2021 Weighted average Maturity in years Weighted average pay rate Weighted average rate received Weighted average Maturity in years Weighted average pay rate Weighted average rate received Subordinated note hedges 13.2 2.81 % 1.80 % 13.7 2.81 % 1.92 % Fixed rate loan hedges 1.8 4.00 5.60 — — — Total cash flow hedges 2.3 3.94 % 5.42 % 13.7 2.81 % 1.92 % Stand-Alone Derivatives The Company periodically enters into interest rate swaps with our borrowers and simultaneously enters into swaps with a counterparty with offsetting terms for the purpose of providing our borrowers long-term fixed rate loans, in addition to stand alone interest-rate swaps designed to offset the economic impact of fixed rate loans. Neither swap is designated as a hedge, and both are marked to market through earnings. At June 30, 2022, this portfolio of interest rate swaps had a weighted average maturity of 8.4 years, weighted average pay rate of 4.74% and a weighted average rate received of 4.67%. At December 31, 2021, this portfolio of interest rate swaps had a weighted average maturity of 8.2 years, weighted average pay rate of 4.35% and weighted average rate received of 4.16%. Reconciliation of Derivative Fair Values and Gains/(Losses) The notional amount of a derivative contract is a factor in determining periodic interest payments or cash flows received or paid. The notional amount of derivatives serves as a level of involvement in various types of derivatives. The notional amount does not represent the Company’s overall exposure to credit or market risk, generally, the exposure is significantly smaller. The following table shows the notional balances and fair values (including net accrued interest) of the derivatives outstanding by derivative type at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate swaps $ 22,107 $ 1,694 $ — $ 26,663 $ — $ 369 Derivatives designated as cash flow hedges: Interest rate swaps 157,500 1,733 1,549 7,500 602 — Total derivatives designated as hedging relationships 179,607 3,427 1,549 34,163 602 369 Derivatives not designated as hedging instruments: Interest rate swaps 150,375 2,379 2,098 150,780 4,419 5,184 Total derivatives not designated as hedging instruments 150,375 2,379 2,098 150,780 4,419 5,184 Total $ 329,982 5,806 3,647 $ 184,943 5,021 5,553 Cash collateral — 2,162 — (8,441 ) Netting adjustments (2,112 ) (2,112 ) 2,994 2,994 Net amount presented in Balance Sheet $ 3,694 $ 3,697 $ 8,015 $ 106 The table below lists designated and qualifying hedged items in fair value hedges at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Carrying Amount Hedging Fair Value Adjustment Fair Value Adjustments on Discontinued Hedges Carrying Amount Hedging Fair Value Adjustment Fair Value Adjustments on Discontinued Hedges Commercial real estate loans $ 20,270 $ (1,764 ) $ — $ 26,661 $ 213 $ — Total $ 20,270 $ (1,764 ) $ — $ 26,661 $ 213 $ — The Company reports hedging derivative gains (losses) as adjustments to loan interest income along with the related net interest settlements and the derivative gains (losses) and net interest settlements for economic derivatives are reported in other income. For the three and six month periods ended June 30, 2022 and 2021, the Company recorded net gains (losses) on derivatives and hedging activities. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Derivatives designated as hedging instruments: Interest rate swaps $ 64 $ — $ 102 $ — Total net gain (loss) related to derivatives designated as hedging instruments 64 — 102 — Derivatives designated as cash flow hedges: Interest rate swaps — — — — Total net gain (loss) related to derivatives designated as cash flow hedges — — — — Total net gains (losses) related to hedging relationships 64 — 102 — Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 467 (105 ) 1,142 245 Total net gains (losses) related to derivatives not designated as hedging instruments 467 (105 ) 1,142 245 Net gains (losses) on derivatives and hedging activities $ 531 $ (105 ) $ 1,244 $ 245 The following table shows the recorded net gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the three month periods ended June 30, 2022 and 2021. June 30, 2022 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ 683 $ (619 ) $ 64 $ 629 Total $ 683 $ (619 ) $ 64 $ 629 June 30, 2021 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ 33 $ (33 ) $ — $ (28 ) Total $ 33 $ (33 ) $ — $ (28 ) The following table shows the recorded net gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the six month periods ended June 30, 2022 and 2021. June 30, 2022 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ 2,079 $ (1,977 ) $ 102 $ 472 Total $ 2,079 $ (1,977 ) $ 102 $ 472 June 30, 2021 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ (171 ) $ 171 $ — $ (56 ) Total $ (171 ) $ 171 $ — $ (56 ) |
LEASE OBLIGATIONS
LEASE OBLIGATIONS | 6 Months Ended |
Jun. 30, 2022 | |
Leases [Abstract] | |
LEASE OBLIGATIONS | NOTE 5 – LEASE OBLIGATIONS Right-of-use asset and lease obligations by type of property for the periods ended June 30, 2022, and December 31, 2021, are listed below. June 30, 2022 Operating Leases Right-of-Use Asset Lease Liability Weighted Average Lease Term in Years Weighted Average Discount Rate Land and building leases $ 5,627 $ 5,669 16.0 2.79 % Total operating leases $ 5,627 $ 5,669 16.0 2.79 % Right-of-use-asset reported in premise and equipment $ 3,437 Right-of-use-asset not in operation, reported in other real estate owned 2,190 Total $ 5,627 During the quarter ended June 30, 2022, one of our bank locations became non-operational. The right-of-use-asset for this location was transferred to other real estate owned, the weighted average lease term is 8.8 years. December 31, 2021 Operating Leases Right-of-Use Asset Lease Liability Weighted Average Lease Term in Years Weighted Average Discount Rate Land and building leases $ 5,963 $ 5,928 13.3 2.30 % Total operating leases $ 5,963 $ 5,928 13.3 2.30 % Operating lease costs for the three and six month periods ended June 30, 2022 and 2021, are listed below. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 191 $ 126 $ 399 $ 251 Short-term lease cost — — — — Variable lease cost 5 3 27 13 Total operating lease cost $ 196 $ 129 $ 426 $ 264 There were no sales and leaseback transactions, leverage leases, lease transactions with related parties or leases that had not yet commenced during the three or six month periods ended June 30, 2022. A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is listed below. Lease Payments June 30, 2022 Due in one year or less $ 794 Due after one year through two years 607 Due after two years through three years 554 Due after three years through four years 555 Due after four years through five years 553 Thereafter 3,731 Total undiscounted cash flows 6,794 Discount on cash flows (1,125 ) Total operating lease liability $ 5,669 |
BORROWINGS
BORROWINGS | 6 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
BORROWINGS | NOTE 6 – BORROWINGS Federal funds purchased and retail repurchase agreements Federal funds purchased and retail repurchase agreements as of June 30, 2022, and December 31, 2021, are listed below. June 30, 2022 December 31, 2021 Federal funds purchased $ — $ — Retail repurchase agreements 52,750 56,006 Securities sold under agreements to repurchase (retail repurchase agreements) consist of obligations of the Company to other parties. The obligations are secured by residential mortgage-backed securities held by the Company with a fair value of $69,158 and $55,605 at June 30, 2022, and December 31, 2021. The agreements are on a day-to-day basis and can be terminated on demand. The following table presents the borrowing usage and interest rate information for federal funds purchased and retail repurchase agreements at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Average daily balance during the period $ 57,217 $ 45,819 Average interest rate during the period 0.26 % 0.23 % Maximum month-end balance year-to-date $ 64,323 $ 56,006 Weighted average interest rate at period-end 0.32 % 0.23 % Federal Home Loan Bank advances Federal Home Loan Bank advances as of June 30, 2022, are as follows. June 30, 2022 Weighted Average Rate Weighted Average Term in Years Federal Home Loan Bank line of credit advances $ — — — Federal Home Loan Bank fixed-rate term advances 80,000 1.50 % — Total Federal Home Loan Bank advances $ 80,000 There were no Federal Home Loan Bank advances outstanding as of December 31, 2021. At June 30, 2022, and December 31, 2021, the Company had undisbursed advance commitments (letters of credit) with the Federal Home Loan Bank of $17,455 and $17,025. These letters of credit were obtained in lieu of pledging securities to secure public fund deposits that are over the FDIC insurance limit. The advances, Mortgage Partnership Finance credit enhancement obligations and letters of credit were collateralized by certain qualifying loans of $605,295 and securities of $82,007 for a total of $687,302 at June 30, 2022, and qualifying loans of $694,892 and securities of $15,409 for a total of $710,302 at December 31, 2021. Based on this collateral and the Company’s holdings of Federal Home Loan Bank stock, the Company was eligible to borrow an additional $587,800 and $691,149 at June 30, 2022, and December 31, 2021. Federal Reserve Bank discount window At June 30, 2022, to support the $366,864 borrowing capacity from the Federal Reserve Bank, the Company has pledged loans with an outstanding balance of $399,753 and securities with a fair value of $38,265. No borrowings were secured from this facility at periods ended June 30, 2022, or December 31, 2021. Bank stock loan The Company entered into an agreement with an unaffiliated financial institution that provided for a maximum borrowing facility of $40,000, secured by the Company’s stock in Equity Bank. The loan was renewed and amended on June 30, 2020, with a maturity date of August 15, 2021, and was extended to February 11, 2022. Each draw of funds on the facility will create a separate note that is repayable over a term of five years. Each note will bear interest at the greater of a variable interest rate equal to the prime rate published in the “Money Rates” section of The Wall Street Journal The loan was renewed and amended on February 11, 2022, with a new maturity date of February 11, 2023. With this amendment, the maximum borrowing amount was decreased from $40,000 to $25,000. Each note will bear interest at the greater of a variable interest rate equal to the prime rate published in the “Money Rates” section of The Wall Street Journal There were no outstanding principal balances on the bank stock loan at June 30, 2022, or December 31, 2021. The terms of the borrowing facility require the Company and Equity Bank to maintain minimum capital ratios and other covenants. In the event of default, the lender has the option to declare all outstanding balances immediately due. The Company believes it is in compliance with the terms of the borrowing facility and has not been otherwise notified of noncompliance. Subordinated debt Subordinated debt as of June 30, 2022, and December 31, 2021, are listed below. June 30, 2022 December 31, 2021 Subordinated debentures $ 23,088 $ 22,924 Subordinated notes 73,047 72,961 Total $ 96,135 $ 95,885 Subordinated debentures In conjunction with prior acquisitions, the Company assumed certain subordinated debentures owed to special purpose unconsolidated subsidiaries that are controlled by the Company. These subordinated debentures have the same terms as the trust preferred securities issued by the special purpose unconsolidated subsidiaries. FCB Capital Trust II (“CTII”): The trust preferred securities issued by CTII accrue and pay distributions quarterly at three-month LIBOR plus 2.00% on the stated liquidation amount of the trust preferred securities. These trust preferred securities are mandatorily redeemable upon maturity on April 15, 2035, or upon earlier redemption. FCB Capital Trust III (“CTIII”): The trust preferred securities issued by CTIII accrue and pay distributions quarterly at three-month LIBOR plus 1.89% on the stated liquidation amount of the trust preferred securities. These trust preferred securities are mandatorily redeemable upon maturity on June 15, 2037, or upon earlier redemption. Community First (AR) Statutory Trust I (“CFSTI”): The trust preferred securities issued by CFSTI accrue and pay distributions quarterly at three-month LIBOR plus 3.25% on the stated liquidation amount of the trust preferred securities. These trust preferred securities are mandatorily redeemable upon maturity on December 26, 2032, or upon earlier redemption. American State Bank Statutory Trust I (“ASBSTI”): The trust preferred securities issued by ASBSTI accrue and pay distributions quarterly at three-month LIBOR plus 1.80 % on the stated liquidation amount of the trust preferred securities. These trust preferred securities are mandatorily redeemable upon maturity on September 15, 2035 , or upon earlier redemption. Subordinated debentures as of June 30, 2022, and December 31, 2021, are listed below. June 30, 2022 Weighted Average Rate Weighted Average Term in Years CTII subordinated debentures $ 10,310 3.04 % 12.8 CTIII subordinated debentures 5,155 2.72 % 15.0 CFSTI subordinated debentures 5,155 4.22 % 10.5 ASBI subordinated debentures 7,732 2.63 % 13.2 Total contractual balance 28,352 Fair market value adjustments (5,264 ) Total subordinated debentures $ 23,088 December 31, 2021 Weighted Average Rate Weighted Average Term in Years CTII subordinated debentures $ 10,310 2.12 % 13.3 CTIII subordinated debentures 5,155 2.08 % 15.5 CFSTI subordinated debentures 5,155 3.47 % 11.0 ASBI subordinated debentures 7,732 2.00 % 13.8 Total contractual balance 28,352 Fair market value adjustments (5,428 ) Total subordinated debentures $ 22,924 Subordinated notes On June 29, 2020, the Company entered into Subordinated Note Purchase Agreements with certain qualified institutional buyers and institutional accredited investors pursuant to which the Company issued and sold $42,000 in aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated notes due 2030. The notes were issued under an Indenture, dated as of June 29, 2020 (the “Indenture”), by and between the Company and UMB Bank, N.A., as trustee. The notes will mature on June 30, 2030. From June 29, 2020, through June 29, 2025, the Company will pay interest on the notes semi-annually in arrears on June 30 and December 30 of each year, commencing on December 30, 2020, at a fixed interest rate of 7.00%. Beginning June 30, 2025, the notes convert to a floating interest rate, to be reset quarterly, equal to the then-current Three-Month Term SOFR, as defined in the Indenture, plus 688 basis points. Interest payments during the floating-rate period will be paid quarterly in arrears on March 30, June 30, September 30 and December 30 of each year, commencing on September 30, 2025. On July 23, 2020, the Company closed on an additional $33,000 of subordinated notes with the same terms as the June 29, 2020, issue. Subordinated notes as of June 30, 2022, are listed below. June 30, 2022 Weighted Average Rate Weighted Average Term in Years Subordinated notes $ 75,000 7.00 % 8.0 Total principal outstanding 75,000 Debt issuance cost (1,953 ) Total subordinated notes $ 73,047 Subordinated notes as of December 31, 2021, are listed below. December 31, 2021 Weighted Average Rate Weighted Average Term in Years Subordinated notes $ 75,000 7.00 % 8.5 Total principal outstanding 75,000 Debt issuance cost (2,039 ) Total subordinated notes $ 72,961 Future principal repayments Future principal repayments of the June 30, 2022, outstanding balances are as follows. Retail Repurchase Agreements FHLB Advances Subordinated Debentures Subordinated Notes Total Due in one year or less $ 52,750 $ 80,000 $ — $ — $ 132,750 Due after one year through two years — — — — — Due after two years through three years — — — — — Due after three years through four years — — — — — Due after four years through five years — — — — — Thereafter — — 28,352 75,000 103,352 Total $ 52,750 $ 80,000 $ 28,352 $ 75,000 $ 236,102 |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 7 – STOCKHOLDERS’ EQUITY Preferred stock The Company’s articles of incorporation provide for the issuance of shares of preferred stock. At June 30, 2022, and December 31, 2021, there was no preferred stock outstanding. Common stock The Company’s articles of incorporation provide for the issuance of 45,000,000 shares of Class A voting common stock (“Class A common stock”) and 5,000,000 shares of Class B non-voting common stock (“Class B common stock”), both of which have a par value of $0.01 per share. The following table presents shares that were issued, held in treasury or were outstanding at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Class A common stock – issued 20,163,989 20,077,059 Class A common stock – held in treasury (4,057,171 ) (3,316,944 ) Class A common stock – outstanding 16,106,818 16,760,115 Class B common stock – issued 234,903 234,903 Class B common stock – held in treasury (234,903 ) (234,903 ) Class B common stock – outstanding — — In 2019, the Company’s Board of Directors adopted the Equity Bancshares, Inc. 2019 Employee Stock Purchase Plan (“ESPP”). The ESPP enables eligible employees to purchase the Company’s common stock at a price per share equal to 85% of the lower of the fair market value of the common stock at the beginning or end of each offering period. ESPP compensation expense of $42 and $78 was recorded for the three and six month periods ended June 30, 2022. ESPP compensation expense of $30 and $55 was recorded for the three and six month periods ended June 30, 2021.The following table presents the offering periods and costs associated with this program during the reporting period. Offering Period Shares Purchased Cost Per Share Compensation Expense August 15, 2020 to February 14, 2021 17,621 $ 13.68 $ 42 February 15, 2021 to August 14, 2021 16,034 20.50 58 August 15, 2021 to February 14, 2022 14,274 27.37 69 Treasury stock is stated at cost, determined by the first-in first-out method. In September of 2020, the Company’s Board of Directors authorized the repurchase of up to 800,000 shares of the Company’s outstanding common stock, from time to time, beginning October 30, 2020, and concluding October 29, 2021. The repurchase program does not obligate the Company to acquire a specific dollar amount or number of shares and it could be extended, modified or discontinued at any time without notice. Under this program, during the years ended December 31, 2021, and 2020, the Company repurchased a total of 679,557 shares of the Company’s outstanding common stock at an average price paid of $24.12 per share. In September of 2021, the Company’s Board of Directors authorized the repurchase of up to 1,000,000 shares of the Company’s outstanding common stock, from time to time, beginning October 29, 2021, and concluding October 28, 2022. The repurchase program did not obligate the Company to acquire a specific dollar amount or number of shares and it may be extended, modified or discontinued at any time without notice. Under this program, during the year ended December 31, 2021, the Company repurchased a total of 132,873 shares of the Company’s outstanding common stock at an average price paid of $32.99 per share. During the six months ended June 30, 2022, the Company repurchased a total of 740,227 shares of the Company’s outstanding common stock at an average price paid of $31.89 per share. At June 30, 2022, there are 126,900 shares remaining available for repurchase under the program. Accumulated other comprehensive income (loss) At June 30, 2022, and December 31, 2021, accumulated other comprehensive income (loss) consisted of (i) the after-tax effect of unrealized gains (losses) on available-for-sale securities and (ii) unrealized gains (losses) on cash flow hedges. Components of accumulated other comprehensive income as of June 30, 2022, and December 31, 2021, are listed below. Available-for- Sale Securities Cash Flow Hedges Accumulated Other Comprehensive Income (Loss) June 30, 2022 Net unrealized or unamortized gains (losses) $ (102,353 ) $ (525 ) $ (102,878 ) Tax effect 25,322 130 25,452 $ (77,031 ) $ (395 ) $ (77,426 ) December 31, 2021 Net unrealized or unamortized gains (losses) $ 2,427 $ (58 ) $ 2,369 Tax effect (607 ) 14 $ (593 ) $ 1,820 $ (44 ) $ 1,776 |
REGULATORY MATTERS
REGULATORY MATTERS | 6 Months Ended |
Jun. 30, 2022 | |
Banking And Thrift Disclosure [Abstract] | |
REGULATORY MATTERS | NOTE 8 – REGULATORY MATTERS Banks and bank holding companies (on a consolidated basis) are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The Basel III rules require banks to maintain a Common Equity Tier 1 capital ratio of 6.5%, a total Tier 1 capital ratio of 8%, a total capital ratio of 10% and a leverage ratio of 5% to be deemed “well capitalized” for purposes of certain rules and prompt corrective action requirements. The risk-based ratios include a “capital conservation buffer” of 2.5% which can limit certain activities of an institution, including payment of dividends, share repurchases and discretionary bonuses to executive officers, if its capital level is below the buffer amount. Management believes as of June 30, 2022, the Company and Bank meet all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as are asset growth and acquisitions, and capital restoration plans are required. As of June 30, 2022, the most recent notifications from the federal regulatory agencies categorized Equity Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, Equity Bank must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed Equity Bank’s category. The Company’s and Equity Bank’s capital amounts and ratios at June 30, 2022, and December 31, 2021, are presented in the table below. Ratios provided for Equity Bancshares, Inc. represent the ratios of the Company on a consolidated basis. Actual Minimum Required for Capital Adequacy Under Basel III To Be Well Capitalized Under Prompt Corrective Provisions Amount Ratio Amount Ratio Amount Ratio June 30, 2022 Total capital to risk weighted assets Equity Bancshares, Inc. $ 582,458 15.97 % $ 382,980 10.50 % $ N/A N/A Equity Bank 551,436 15.14 % 382,540 10.50 % 364,324 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 463,767 12.71 % 310,031 8.50 % N/A N/A Equity Bank 505,843 13.88 % 309,675 8.50 % 291,459 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 440,679 12.08 % 255,320 7.00 % N/A N/A Equity Bank 505,843 13.88 % 255,027 7.00 % 236,810 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 463,767 9.11 % 203,674 4.00 % N/A N/A Equity Bank 505,843 9.94 % 203,462 4.00 % 254,328 5.00 % December 31, 2021 Total capital to risk weighted assets Equity Bancshares, Inc. $ 571,514 15.96 % $ 376,013 10.50 % $ N/A N/A Equity Bank 546,503 15.28 % 375,646 10.50 % 357,758 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 453,718 12.67 % 304,391 8.50 % N/A N/A Equity Bank 501,711 14.02 % 304,094 8.50 % 286,206 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 430,794 12.03 % 250,675 7.00 % N/A N/A Equity Bank 501,711 14.02 % 250,430 7.00 % 232,543 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 453,718 9.09 % 199,563 4.00 % N/A N/A Equity Bank 501,711 10.07 % 199,381 4.00 % 249,226 5.00 % Equity Bank is subject to certain restrictions on the amount of dividends that it may declare without prior regulatory approval. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | NOTE 9 – EARNINGS PER SHARE The following table presents earnings per share for the three and six month periods ended June 30, 2022, and 2021. Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Basic: Net income (loss) allocable to common stockholders $ 15,259 $ 15,166 $ 30,909 $ 30,241 Weighted average common shares outstanding 16,106,643 14,355,310 16,426,098 14,405,370 Weighted average vested restricted stock units 40 1,648 2,437 4,958 Weighted average shares 16,106,683 14,356,958 16,428,535 14,410,328 Basic earnings (loss) per common share $ 0.95 $ 1.06 $ 1.88 $ 2.10 Diluted: Net income (loss) allocable to common stockholders $ 15,259 $ 15,166 $ 30,909 $ 30,241 Weighted average common shares outstanding for: Basic earnings per common share 16,106,683 14,356,958 16,428,535 14,410,328 Dilutive effects of the assumed exercise of stock options 95,010 207,322 98,886 188,083 Dilutive effects of the assumed vesting of restricted stock units 109,036 107,286 110,618 103,267 Dilutive effects of the assumed exercise of ESPP purchases 2,224 3,272 1,931 2,562 Average shares and dilutive potential common shares 16,312,953 14,674,838 16,639,970 14,704,240 Diluted earnings (loss) per common share $ 0.94 $ 1.03 $ 1.86 $ 2.06 Average shares not included in the computation of diluted earnings per share because they were antidilutive are shown in the following table for the three and six month periods ended June 30, 2022, and 2021. Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Stock options 281,669 301,709 205,750 302,165 Restricted stock units 3,505 7,575 3,505 8,799 Total antidilutive shares 285,174 309,284 209,255 310,964 |
FAIR VALUE
FAIR VALUE | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE | NOTE 10 – FAIR VALUE The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to disclose the fair value of its financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. For disclosure purposes, the Company groups its financial and non-financial assets and liabilities into three different levels based on the nature of the instrument and the availability and reliability of the information that is used to determine fair value. The three levels of inputs that may be used to measure fair values are defined as follows. Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Level 1 inputs are considered to be the most transparent and reliable. The Company assumes the use of the principal market to conduct a transaction of each particular asset or liability being measured and then considers the assumptions that market participants would use when pricing the asset or liability. Whenever possible, the Company first looks for quoted prices for identical assets or liabilities in active markets (Level 1 inputs) to value each asset or liability. However, when inputs from identical assets or liabilities on active markets are not available, the Company utilizes market observable data for similar assets and liabilities. The Company maximizes the use of observable inputs and limits the use of unobservable inputs to occasions when observable inputs are not available. The need to use unobservable inputs generally results from the lack of market liquidity of the actual financial instrument or of the underlying collateral. Although, in some instances, third party price indications may be available, limited trading activity can challenge the implied value of those quotations. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of each instrument under the hierarchy. Fair Value of Assets and Liabilities Measured on a Recurring Basis The fair values of securities available-for-sale and equity securities with readily determinable fair value are carried at fair value on a recurring basis. To the extent possible, observable quoted prices in an active market are used to determine fair value and, as such, these securities are classified as Level 1. For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities, generally determined by matrix pricing, which is a mathematical technique widely used in the industry to value securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The Company’s available-for-sale securities, including U.S. Government sponsored entity securities, residential mortgage-backed securities (all of which are issued or guaranteed by government sponsored agencies), corporate securities, Small Business Administration securities, and State and Political Subdivision securities are classified as Level 2. The fair values of derivatives are determined based on a valuation pricing model using readily available observable market parameters such as interest rate yield curves (Level 2 inputs) adjusted for credit risk attributable to the seller of the interest rate derivative. Cash collateral received from or delivered to a derivative counterparty is classified as Level 1. Assets and liabilities measured at fair value on a recurring basis are summarized in the following tables as of June 30, 2022, and December 31, 2021. June 30, 2022 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: U.S. Government-sponsored entities $ — $ 111,393 $ — U.S. Treasury securities 238,565 — — Mortgage-backed securities Government-sponsored residential mortgage-backed securities — 558,472 — Private label residential mortgage-backed securities — 179,457 — Corporate — 55,043 — Small Business Administration loan pools — 14,311 — State and political subdivisions — 130,939 — Derivative assets: Derivative assets (included in other assets) — 5,806 — Cash collateral held by counterparty and netting adjustments (2,112 ) — — Total derivative assets (2,112 ) 5,806 — Other assets: Equity securities with readily determinable fair value 573 — — Total other assets 573 — — Total assets $ 237,026 $ 1,055,421 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 3,647 $ — Cash collateral held by counterparty and netting adjustments 50 — — Total derivative liabilities 50 3,647 — Total liabilities $ 50 $ 3,647 $ — December 31, 2021 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: U.S. Government-sponsored entities $ — $ 123,407 $ — U.S. Treasury securities 155,602 — — Mortgage-backed securities Government-sponsored residential mortgage- backed securities — 664,887 — Private label residential mortgage-backed securities — 171,688 — Corporate — 53,777 — Small Business Administration loan pools — 16,475 — State and political subdivisions — 141,606 — Derivative assets: Derivative assets (included in other assets) — 5,021 — Cash collateral held by counterparty and netting adjustments 2,994 — — Total derivative assets 2,994 5,021 — Other assets: Equity securities with readily determinable fair value 644 — — Total other assets 644 — — Total assets $ 159,240 $ 1,176,861 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 5,553 $ — Cash collateral held by counterparty and netting adjustments (5,447 ) — — Total derivative liabilities (5,447 ) 5,553 — Total liabilities $ (5,447 ) $ 5,553 $ — There were no material transfers between levels during the six months ended June 30, 2022, or the year ended December 31, 2021. The Company’s policy is to recognize transfers into or out of a level as of the end of a reporting period. Fair Value of Assets and Liabilities Measured on a Non-recurring Basis Certain assets are measured at fair value on a non-recurring basis when there is evidence of impairment. The fair value of individually evaluated securities is determined as discussed previously for available-for-sale securities. The fair values of individually evaluated loans with specific allocations of the allowance for credit losses are generally based on recent real estate appraisals of the collateral less estimated cost to sell. Declines in the fair values of other real estate owned subsequent to their initial acquisitions are also based on recent real estate appraisals less estimated selling costs. Real estate appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. We routinely value loans other than real estate as multiples of earnings or with the discounted cash flow approach and adjustments are made to observable market data to make the valuation consistent with the underlying credit. Such adjustments made to real estate appraisals and other loan valuations are typically significant and result in a Level 3 classification of the inputs for determining fair value. Assets measured at fair value on a non-recurring basis are summarized below as of June 30, 2022, and December 31, 2021. June 30, 2022 (Level 1) (Level 2) (Level 3) Individually evaluated loans: Commercial real estate $ — $ — $ 1,848 Commercial and industrial — — 1,020 Residential real estate — — 2,185 Agricultural real estate — — 2,002 Other — — 2,319 Other real estate owned: Commercial real estate — — 2,175 Residential real estate — — 48 December 31, 2021 (Level 1) (Level 2) (Level 3) Individually evaluated loans: Commercial real estate $ — $ — $ 5,201 Commercial and industrial — — 2,793 Residential real estate — — 3,758 Agricultural real estate — — 2,101 Other — — 4,068 Other real estate owned: Commercial real estate — — 2,043 Residential real estate — — 191 The Company did not record any liabilities for which the fair value was measured on a non-recurring basis at June 30, 2022, or December 31, 2021. Valuations of individually evaluated loans and other real estate owned utilize third party appraisals or broker price opinions and were classified as Level 3 due to the significant judgment involved. Appraisals may include the utilization of unobservable inputs, subjective factors and quantitative data to estimate fair market value. The following table presents additional information about the unobservable inputs used in the fair value measurement of financial assets measured on a nonrecurring basis that were categorized with Level 3 of the fair value hierarchy as of June 30, 2022, and December 31, 2021. Fair Value Valuation Technique Unobservable Input Range (weighted June 30, 2022 Individually evaluated real estate loans $ 9,374 Sales Comparison Approach Adjustments for differences comparable sales 5% - 52% (28%) Individually evaluated other real estate owned $ 2,223 Sales Comparison Approach Adjustments for differences comparable sales 3% - 20% (12%) December 31, 2021 Individually evaluated real estate loans $ 17,921 Sales Comparison Approach Adjustments for differences comparable sales 5% - 31% (18%) Individually evaluated other real estate owned $ 2,234 Sales Comparison Approach Adjustments for differences comparable sales 3% - 20% (12%) Carrying amount and estimated fair values of financial instruments at period end were as follows for June 30, 2022, and December 31, 2021. June 30, 2022 Carrying Amount Estimated Fair Value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 103,584 $ 103,584 $ 103,584 $ — $ — Available-for-sale securities 1,288,180 1,288,180 238,565 1,049,615 — Loans held for sale 1,714 1,714 — 1,714 — Loans, net of allowance for credit losses 3,175,208 3,134,957 — — 3,134,957 Federal Reserve Bank and Federal Home Loan Bank stock 21,479 21,479 — 21,479 — Interest receivable 16,519 16,519 — 16,519 — Derivative assets 5,806 5,806 — 5,806 — Cash collateral held by derivative counterparty and netting adjustments (2,112 ) (2,112 ) (2,112 ) — — Total derivative assets 3,694 3,694 (2,112 ) 5,806 — Equity securities with readily determinable fair value 573 573 573 — — Total assets $ 4,610,951 $ 4,570,700 $ 340,610 $ 1,095,133 $ 3,134,957 Financial liabilities: Deposits $ 4,291,771 $ 4,284,337 $ — $ 4,284,337 $ — Federal funds purchased and retail repurchase agreements 52,750 52,750 — 52,750 — Federal Home Loan Bank advances 80,000 80,000 — 80,000 — Subordinated debentures 23,088 23,088 — 23,088 — Subordinated notes 73,047 74,360 — 74,360 — Contractual obligations 15,813 15,813 — 15,813 — Interest payable 492 492 — 492 — Derivative liabilities 3,647 3,647 — 3,647 — Cash collateral held by derivative counterparty and netting adjustments 50 50 50 — — Total derivative liabilities 3,697 3,697 50 3,647 — Total liabilities $ 4,540,658 $ 4,534,537 $ 50 $ 4,534,487 $ — December 31, 2021 Carrying Amount Estimated Fair Value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 259,954 $ 259,954 $ 259,954 $ — $ — Available-for-sale securities 1,327,442 1,327,442 155,601 1,171,841 — Loans held for sale 4,214 4,214 — 4,214 — Loans, net of allowance for credit losses 3,107,262 3,100,232 — — 3,100,232 Federal Reserve Bank and Federal Home Loan Bank stock 17,510 17,510 — 17,510 — Interest receivable 18,048 18,048 — 18,048 — Derivative assets 5,021 5,021 — 5,021 — Cash collateral held by derivative counterparty and netting adjustments 2,994 2,994 2,994 — — Total derivative assets 8,015 8,015 2,994 5,021 — Equity securities with readily determinable fair value 644 644 644 — — Total assets $ 4,743,089 $ 4,736,059 $ 419,193 $ 1,216,634 $ 3,100,232 Financial liabilities: Deposits $ 4,420,004 $ 4,421,441 $ — $ 4,421,441 $ — Federal funds purchased and retail repurchase agreements 56,006 56,006 — 56,006 — Subordinated debentures 22,924 22,924 — 22,924 — Subordinated notes 72,961 80,880 — 80,880 — Contractual obligations 17,692 17,692 — 17,692 — Interest payable 3,187 3,187 — 3,187 — Derivative liabilities 5,553 5,553 — 5,553 — Cash collateral held by derivative counterparty and netting adjustments (5,447 ) (5,447 ) (5,447 ) — — Total derivative liabilities 106 106 (5,447 ) 5,553 — Total liabilities $ 4,592,880 $ 4,602,236 $ (5,447 ) $ 4,607,683 $ — The fair value of off-balance-sheet items is not considered material. |
COMMITMENTS AND CREDIT RISK
COMMITMENTS AND CREDIT RISK | 6 Months Ended |
Jun. 30, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CREDIT RISK | NOTE 11 – COMMITMENTS AND CREDIT RISK The Company extends credit for commercial real estate mortgages, residential mortgages, working capital financing and loans to businesses and consumers. Commitments to Originate Loans and Available Lines of Credit Commitments to originate loans and available lines of credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments and lines of credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a portion of the commitments and lines of credit may expire without being drawn upon, the total commitment and lines of credit amounts do not necessarily represent future cash requirements. Each customer’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Mortgage loans in the process of origination represent amounts that the Company plans to fund within a normal period of 60 to 90 days, and which are intended for sale to investors in the secondary market. The contractual amounts of commitments to originate loans and available lines of credit as of June 30, 2022, and December 31, 2021, were as follows. June 30, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 89,350 $ 168,286 $ 101,923 $ 173,976 Mortgage loans in the process of origination 3,793 5,343 7,404 2,353 Unused lines of credit 114,878 344,260 106,291 317,249 The fixed rate loan commitments have interest rates ranging from 3.25% to 18.00% and maturities ranging from 1 month to 364 months. Standby Letters of Credit Standby letters of credit are irrevocable commitments issued by the Company to guarantee the performance of a customer to a third party once specified pre-conditions are met. Financial standby letters of credit are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Performance standby letters of credit are issued to guarantee performance of certain customers under non-financial contractual obligations. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loans to customers. The contractual amounts of standby letters of credit as of June 30, 2022, and December 31, 2021, were as follows. June 30, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate Standby letters of credit $ 14,138 $ 9,617 $ 14,656 $ 5,799 |
LEGAL MATTERS
LEGAL MATTERS | 6 Months Ended |
Jun. 30, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
LEGAL MATTERS | NOTE 12 – LEGAL MATTERS The Company is party to various matters of litigation in the ordinary course of business. The Company periodically reviews all outstanding pending or threatened legal proceedings and determines if such matters will have an adverse effect on the business, financial condition, results of operations or cash flows. A loss contingency is recorded when the outcome is probable and reasonably able to be estimated. Any loss contingency described below has been identified by the Company as reasonably possible to result in an unfavorable outcome for the Company or the Bank. Equity Bank is party to a lawsuit that was filed on January 28, 2022, in the Sedgwick County Kansas District Court on behalf of one of our customers alleging improperly collected overdraft fees. The plaintiff seeks to have the case certified as a class action. The Bank has filed a motion to dismiss this claim on its merits and on the grounds that the defendant must litigate any such claims in arbitration. The Company believes that the lawsuit is without merit, and it intends to vigorously defend against the claim asserted. At this time, the Company is unable to reasonably estimate the loss amount of this litigation. Equity Bank is party to a lawsuit that was filed on February 2, 2022, in Jackson County, Missouri District Court against the Bank on behalf of a Missouri customer alleging improperly collected overdraft fees. The plaintiff seeks to have the case certified as a class action. The Company believes that the lawsuit is without merit, and it intends to vigorously defend against the claims now asserted. At this time, the Company is unable to reasonably estimate the loss amount of this litigation. |
REVENUE RECOGNITION
REVENUE RECOGNITION | 6 Months Ended |
Jun. 30, 2022 | |
Revenue From Contract With Customer [Abstract] | |
REVENUE RECOGNITION | NOTE 13 – REVENUE RECOGNITION The majority of the Company’s revenues come from interest income on financial instruments, including loans, leases, securities and derivatives, which are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented with non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include service charges and fees on deposits, debit card income, investment referral income, insurance sales commissions and other non-interest income related to loans and deposits. Except for gains or losses from the sale of other real estate owned, all of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income. The following table presents the Company’s sources of non-interest income for the three and six month periods ended June 30, 2022, and 2021. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Non-interest income Service charges and fees $ 2,617 $ 2,169 $ 5,139 $ 3,765 Debit card income 2,810 2,679 5,438 5,029 Mortgage banking (a) 428 848 990 1,783 Increase in bank-owned life insurance (a) 736 676 1,601 1,277 Net gain (loss) on acquisition (a) 540 663 540 585 Net gain (loss) from securities transactions (a) (32 ) — 8 17 Other Investment referral income 140 194 283 317 Trust income 264 336 557 496 Insurance sales commissions 47 46 113 106 Recovery on zero-basis purchased loans (a) 13 19 33 53 Income (loss) from equity method investments (a) (56 ) (56 ) (111 ) (111 ) Other non-interest income related to loans and deposits 2,113 1,481 4,044 2,448 Other non-interest income not related to loans and deposits (a) 17 45 24 47 Total other non-interest income 2,538 2,065 4,943 3,356 Total $ 9,637 $ 9,100 $ 18,659 $ 15,812 (a) |
BUSINESS COMBINATIONS AND BRANC
BUSINESS COMBINATIONS AND BRANCH SALES | 6 Months Ended |
Jun. 30, 2022 | |
Business Combinations [Abstract] | |
BUSINESS COMBINATIONS AND BRANCH SALES | NOTE 14 – BUSINESS COMBINATIONS AND BRANCH SALES At the close of business on October 1, 2021, the Company acquired the 100% of the outstanding common shares of American State Bancshares, Inc. (“ASBI”), based in Wichita, Kansas. Costs related to this acquisition during the three and six months ended June 30, 2022, were $87 and $274 ($65 and $206 on an after-tax basis). At the close of business on December 3, 2021, the Company acquired the assets and assumed the deposits and certain other liabilities of three bank locations in St. Joseph, Missouri, from Security Bank of Kansas City, based in Kansas City Kansas (“Security”). Costs related to this acquisition during the three and six months ended June 30, 2022, were $1 and $137 ($0 and $102 on an after-tax basis). At the close of business on October 25, 2021, the Company announced a definitive purchase and assumption agreement with United Bank & Trust in Marysville, Kansas, (“UBT”) with UBT acquiring certain assets and assuming deposits of bank locations in Concordia, Belleville and Clyde, Kansas from Equity Bank. This transaction was completed on June 24, 2022. The completed transaction resulted in a net gain of $540. The following table summarizes the carrying value of assets and liabilities sold on June 24, 2022. Summary of assets sold and liabilities assumed by UBT: Cash and due from banks $ 508 Loans 26,110 Premises and equipment 1,225 Goodwill 1,364 Core deposit intangible 164 Other assets 391 Total assets sold 29,762 Deposits 52,714 Interest payable and other liabilities 19 Total liabilities assumed by UBT 52,733 Total net assets (22,971 ) Cash paid 22,431 Gain on Branch Sale $ (540 ) The following tables present the carrying value of loans and deposits sold to UBT on June 24, 2022. Commercial real estate $ 793 Commercial and industrial 537 Residential real estate 521 Agricultural real estate 23,685 Consumer 574 Carry value of sold loans $ 26,110 Demand $ 15,817 Total non-interest-bearing deposits 15,817 Demand, savings and money markets 28,615 Time 8,282 Total interest-bearing deposits 36,897 Total deposits $ 52,714 |
BASIS OF PRESENTATION AND SUM_2
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Reclassifications | Reclassifications Some items in prior financial statements were reclassified to conform to the current presentation. Management determined the items reclassified are immaterial to the consolidated financial statements taken as a whole and did not result in a change in equity or net income for the periods reported. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848) In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815), Fair Value Hedging – Portfolio Layer Method provided guidance on how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. The guidance will be effective for the Company in fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. This guidance requires a modified retrospective basis by means of a cumulative-effect adjustment to the opening balance of retained earnings on the initial application date. The Company is currently evaluating the guidance but does not expect it will have a material financial impact on its financial condition, results of operations or cash flows. In March 2022, the FASB issued ASU 2022-02, Financial Instruments – Credit Losses (Topic 326), Trouble Debt Restructurings and Vintage Disclosures Financial Instruments – Credit Losses – Measured at Amortized Cost In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820), Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. |
Revenue Recognition | The majority of the Company’s revenues come from interest income on financial instruments, including loans, leases, securities and derivatives, which are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented with non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include service charges and fees on deposits, debit card income, investment referral income, insurance sales commissions and other non-interest income related to loans and deposits. Except for gains or losses from the sale of other real estate owned, all of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income. The following table presents the Company’s sources of non-interest income for the three and six month periods ended June 30, 2022, and 2021. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Non-interest income Service charges and fees $ 2,617 $ 2,169 $ 5,139 $ 3,765 Debit card income 2,810 2,679 5,438 5,029 Mortgage banking (a) 428 848 990 1,783 Increase in bank-owned life insurance (a) 736 676 1,601 1,277 Net gain (loss) on acquisition (a) 540 663 540 585 Net gain (loss) from securities transactions (a) (32 ) — 8 17 Other Investment referral income 140 194 283 317 Trust income 264 336 557 496 Insurance sales commissions 47 46 113 106 Recovery on zero-basis purchased loans (a) 13 19 33 53 Income (loss) from equity method investments (a) (56 ) (56 ) (111 ) (111 ) Other non-interest income related to loans and deposits 2,113 1,481 4,044 2,448 Other non-interest income not related to loans and deposits (a) 17 45 24 47 Total other non-interest income 2,538 2,065 4,943 3,356 Total $ 9,637 $ 9,100 $ 18,659 $ 15,812 (a) |
SECURITIES (Tables)
SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Amortized Cost and Fair Value of Securities Available-for-Sale | The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are listed below. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value June 30, 2022 Available-for-sale securities U.S. Government-sponsored entities $ 123,550 $ — $ (12,158 ) $ — $ 111,392 U.S. Treasury securities 257,329 — (18,763 ) — 238,566 Mortgage-backed securities Government-sponsored residential mortgage-backed securities 599,868 56 (41,452 ) — 558,472 Private label residential mortgage-backed securities 198,447 — (18,990 ) — 179,457 Corporate 56,598 33 (1,588 ) — 55,043 Small Business Administration loan pools 14,864 — (553 ) — 14,311 State and political subdivisions 139,877 266 (9,204 ) — 130,939 $ 1,390,533 $ 355 $ (102,708 ) $ — $ 1,288,180 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value December 31, 2021 Available-for-sale securities U.S. Government-sponsored entities $ 124,898 $ 13 $ (1,504 ) $ — $ 123,407 U.S. Treasury securities 157,289 — (1,687 ) — 155,602 Mortgage-backed securities Government-sponsored residential mortgage-backed securities 661,584 10,215 (6,912 ) — 664,887 Private label residential mortgage-backed securities 173,717 — (2,029 ) — 171,688 Corporate 52,555 1,437 (215 ) — 53,777 Small Business Administration loan pools 16,568 13 (106 ) — 16,475 State and political subdivisions 138,404 3,618 (416 ) — 141,606 $ 1,325,015 $ 15,296 $ (12,869 ) $ — $ 1,327,442 |
Fair Value and Amortized Cost of Debt Securities by Contractual Maturity | The fair value and amortized cost of debt securities at June 30, 2022, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available-for-Sale Amortized Cost Fair Value Within one year $ 6,955 $ 6,978 One to five years 258,317 244,218 Five to ten years 244,867 225,103 After ten years 82,079 73,952 Mortgage-backed securities 798,315 737,929 Total debt securities $ 1,390,533 $ 1,288,180 |
Summary of Proceeds from Sales and Associated Gains and Losses | The proceeds from sales and the associated gains and losses on available-for-sale securities reclassified from other comprehensive income to income are listed below. Three Months Ended June 30, Six Months Ended June 30, 2022 2022 Proceeds $ — $ 3,265 Gross gain — 115 Gross losses — 36 Income tax expense on net realized gains — 20 |
Available for Sale Securities [Member] | |
Summary of Gross Unrealized Losses and Fair Value of Securities | The following tables show gross unrealized losses and fair value, aggregated by investment category, and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2022, and December 31, 2021. Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss June 30, 2022 Available-for-sale securities U.S. Government-sponsored entities $ 111,392 $ (12,158 ) $ — $ — $ 111,392 $ (12,158 ) U.S. Treasury securities 238,566 (18,763 ) — — 238,566 (18,763 ) Mortgage-backed securities Government-sponsored residential mortgage-backed securities 433,909 (27,821 ) 115,996 (13,631 ) 549,905 (41,452 ) Private label residential mortgage-backed securities 168,463 (17,623 ) 10,994 (1,367 ) 179,457 (18,990 ) Corporate 52,510 (1,588 ) 52,510 (1,588 ) Small Business Administration loan pools 5,898 (531 ) 8,413 (22 ) 14,311 (553 ) State and political subdivisions 83,381 (9,204 ) 83,381 (9,204 ) Total temporarily impaired securities $ 1,094,119 $ (87,688 ) $ 135,403 $ (15,020 ) $ 1,229,522 $ (102,708 ) December 31, 2021 Available-for-sale securities U.S. Government-sponsored entities $ 117,618 $ (1,504 ) $ — $ — $ 117,618 $ (1,504 ) U.S. Treasury securities 155,601 (1,687 ) — — 155,601 (1,687 ) Mortgage-backed securities Government-sponsored residential mortgage-backed securities 378,057 (6,860 ) 2,868 (52 ) 380,925 (6,912 ) Private label residential mortgage-backed securities 159,381 (1,978 ) 2,208 (51 ) 161,589 (2,029 ) Corporate 4,785 (215 ) — — 4,785 (215 ) Small Business Administration loan pools 15,459 (106 ) — — 15,459 (106 ) State and political subdivisions 28,443 (416 ) — — 28,443 (416 ) Total temporarily impaired securities $ 859,344 $ (12,766 ) $ 5,076 $ (103 ) $ 864,420 $ (12,869 ) |
LOANS AND ALLOWANCE FOR CREDI_2
LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Categories of Loans | The following table lists categories of loans at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Commercial real estate $ 1,643,068 $ 1,486,148 Commercial and industrial 578,899 567,497 Residential real estate 578,936 638,087 Agricultural real estate 197,938 198,330 Agricultural 124,753 166,975 Consumer 99,852 98,590 Total loans 3,223,446 3,155,627 Allowance for credit losses (48,238 ) (48,365 ) Net loans $ 3,175,208 $ 3,107,262 |
Schedule of Allowance for Loan Losses by Portfolio Segment Allowance | The following tables present the activity in the allowance for credit losses by class for the three month periods ended June 30, 2022 and 2021. June 30, 2022 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Beginning balance $ 21,764 $ 13,814 $ 5,960 $ 1,542 $ 2,472 $ 2,038 $ 47,590 Provision for credit losses 911 (650 ) 870 (535 ) (182 ) 410 824 Loans charged-off (11 ) (35 ) (46 ) — (1 ) (289 ) (382 ) Recoveries 1 80 34 — — 91 206 Total ending allowance balance $ 22,665 $ 13,209 $ 6,818 $ 1,007 $ 2,289 $ 2,250 $ 48,238 June 30, 2021 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 15,118 $ 19,965 $ 11,511 $ 1,900 $ 4,349 $ 2,682 $ 55,525 Cumulative effect adjustment of adopting ASC 326 72 52 (11 ) (1 ) — 3 115 Impact of adopting ASC 326 - PCD loans (56 ) (1,898 ) (1 ) (226 ) 599 — (1,582 ) Provision for credit losses 91 578 (1,692 ) (354 ) (253 ) (27 ) (1,657 ) Loans charged-off — (54 ) (3 ) (490 ) (1 ) (165 ) (713 ) Recoveries — 47 4 18 1 76 146 Total ending allowance balance $ 15,225 $ 18,690 $ 9,808 $ 847 $ 4,695 $ 2,569 $ 51,834 |
Schedule of Loans Evaluated for Impairment | The following tables present the activity in the allowance for credit losses by class for the six month periods ended June 30, 2022 and 2021. June 30, 2022 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Beginning balance $ 22,478 $ 12,248 $ 5,560 $ 2,235 $ 3,756 $ 2,088 $ 48,365 Provision for credit losses 419 922 1,272 (1,235 ) (1,466 ) 500 412 Loans charged-off (294 ) (79 ) (48 ) — (1 ) (494 ) (916 ) Recoveries 62 118 34 7 — 156 377 Total ending allowance balance $ 22,665 $ 13,209 $ 6,818 $ 1,007 $ 2,289 $ 2,250 $ 48,238 June 30, 2021 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 9,012 $ 12,456 $ 4,559 $ 904 $ 758 $ 6,020 $ 33,709 Cumulative effect adjustment of adopting ASC 326 5,612 4,167 8,870 167 (207 ) (2,877 ) 15,732 Impact of adopting ASC 326 - PCD loans 4,571 (218 ) 220 960 4,905 — 10,438 Provision for credit losses (4,044 ) 2,276 (3,834 ) (700 ) (764 ) (347 ) (7,413 ) Loans charged-off (53 ) (61 ) (12 ) (502 ) (1 ) (375 ) (1,004 ) Recoveries 127 70 5 18 4 148 372 Total ending allowance balance $ 15,225 $ 18,690 $ 9,808 $ 847 $ 4,695 $ 2,569 $ 51,834 The following tables present the recorded investment in loans and the balance in the allowance for credit losses by portfolio and class based on method to determine allowance for credit loss as of June 30, 2022, and December 31, 2021. June 30, 2022 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Individually evaluated for credit losses $ 1,188 $ 1,034 $ 723 $ 346 $ 1,923 $ 67 $ 5,281 Collectively evaluated for credit losses 21,477 12,175 6,095 661 366 2,183 42,957 Total $ 22,665 $ 13,209 $ 6,818 $ 1,007 $ 2,289 $ 2,250 $ 48,238 Loan Balance: Individually evaluated for credit losses $ 6,735 $ 5,993 $ 3,017 $ 4,067 $ 4,903 $ 276 $ 24,991 Collectively evaluated for credit losses 1,636,333 572,906 575,919 193,871 119,850 99,576 3,198,455 Total $ 1,643,068 $ 578,899 $ 578,936 $ 197,938 $ 124,753 $ 99,852 $ 3,223,446 December 31, 2021 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Agricultural Consumer Total Allowance for credit losses: Individually evaluated for credit losses $ 4,381 $ 3,650 $ 892 $ 1,488 $ 3,546 $ 75 $ 14,032 Collectively evaluated for credit losses 18,097 8,598 4,668 747 210 2,013 34,333 Total $ 22,478 $ 12,248 $ 5,560 $ 2,235 $ 3,756 $ 2,088 $ 48,365 Loan Balance: Individually evaluated for credit losses $ 45,421 $ 13,786 $ 5,362 $ 14,959 $ 13,049 $ 357 $ 92,934 Collectively evaluated for credit losses 1,440,727 553,711 632,725 183,371 153,926 98,233 3,062,693 Total $ 1,486,148 $ 567,497 $ 638,087 $ 198,330 $ 166,975 $ 98,590 $ 3,155,627 |
Summary of Information Related to Nonaccrual Loans and Level of Collateral Supports Nonaccrual Loans | The following table presents information related to nonaccrual loans and the level of collateral that supports the nonaccrual loans at June 30, 2022, and December 31, 2021. June 30, 2022 Unpaid Principal Balance Recorded Investment Allowance for Credit Losses Allocated With no related allowance recorded: Commercial real estate $ 2,989 $ 2,327 $ — Commercial and industrial 6,081 1,964 — Residential real estate 32 — — Agricultural real estate 1,276 1,140 — Agricultural 41 — — Consumer 19 — — Subtotal 10,438 5,431 — With an allowance recorded: Commercial real estate 3,353 2,778 930 Commercial and industrial 1,679 1,387 367 Residential real estate 3,147 2,903 718 Agricultural real estate 3,635 2,337 335 Agricultural 6,298 3,757 1,639 Consumer 335 267 66 Subtotal 18,447 13,429 4,055 Total $ 28,885 $ 18,860 $ 4,055 December 31, 2021 Unpaid Principal Balance Recorded Investment Allowance for Credit Losses Allocated With no related allowance recorded: Commercial real estate $ — $ — $ — Commercial and industrial 6,060 1,964 — Residential real estate 609 429 — Agricultural real estate 1,795 1,660 — Agricultural — — — Consumer 49 49 — Subtotal 8,513 4,102 — With an allowance recorded: Commercial real estate 7,690 6,833 1,632 Commercial and industrial 4,976 4,593 1,800 Residential real estate 5,170 4,646 888 Agricultural real estate 3,726 2,738 637 Agricultural 8,836 6,175 2,307 Consumer 314 274 74 Subtotal 30,712 25,259 7,338 Total $ 39,225 $ 29,361 $ 7,338 The table below presents average recorded investment and interest income related to nonaccrual loans for the three and six months ended June 30, 2022, and 2021. Interest income recognized in the following table was substantially recognized on the cash basis. The recorded investment in loans excludes accrued interest receivable due to immateriality. As of and for the three months ended June 30, 2022 June 30, 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 1,572 $ — $ — $ 2 Commercial and industrial 982 — — — Residential real estate 553 — 11 — Agricultural real estate 1,400 — 3,210 83 Agricultural — — 2,066 33 Consumer — — — 1 Subtotal 4,507 — 5,287 119 With an allowance recorded: Commercial real estate 2,800 — 8,010 3 Commercial and industrial 2,549 — 29,034 11 Residential real estate 3,160 1 2,752 2 Agricultural real estate 2,378 3 3,787 — Agricultural 4,072 — 8,033 10 Consumer 312 — 253 1 Subtotal 15,271 4 51,869 27 Total $ 19,778 $ 4 $ 57,156 $ 146 As of and for the six months ended June 30, 2022 June 30, 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 1,048 $ — $ 561 $ 3 Commercial and industrial 1,309 — 214 — Residential real estate 512 1 67 — Agricultural real estate 1,487 — 2,504 83 Agricultural — — 2,874 33 Consumer 16 — — 1 Subtotal 4,372 1 6,220 120 With an allowance recorded: Commercial real estate 4,144 — 7,306 18 Commercial and industrial 3,231 — 26,961 119 Residential real estate 3,655 1 2,760 2 Agricultural real estate 2,498 3 3,531 20 Agricultural 4,773 — 5,629 44 Consumer 299 — 260 1 Subtotal 18,600 4 46,447 204 Total $ 22,972 $ 5 $ 52,667 $ 324 |
Schedule of Aging of Recorded Investment in Past Due Loans by Segment and Class of Loans | The following tables present the aging of the recorded investment in past due loans as of June 30, 2022, and December 31, 2021, by portfolio and class of loans. June 30, 2022 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 598 $ 249 $ 386 $ 5,105 $ 1,636,730 $ 1,643,068 Commercial and industrial 655 2,923 — 3,351 571,970 578,899 Residential real estate 623 357 — 2,903 575,053 578,936 Agricultural real estate 7 — — 3,477 194,454 197,938 Agricultural 1 95 — 3,757 120,900 124,753 Consumer 466 47 — 267 99,072 99,852 Total $ 2,350 $ 3,671 $ 386 $ 18,860 $ 3,198,179 $ 3,223,446 December 31, 2021 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 4,633 $ 408 $ 256 $ 6,833 $ 1,474,018 $ 1,486,148 Commercial and industrial 424 88 — 6,557 560,428 567,497 Residential real estate 620 1,126 — 5,075 631,266 638,087 Agricultural real estate 28 57 — 4,398 193,847 198,330 Agricultural 5 — — 6,175 160,795 166,975 Consumer 316 61 — 323 97,890 98,590 Total $ 6,026 $ 1,740 $ 256 $ 29,361 $ 3,118,244 $ 3,155,627 |
Summary of Risk Category of Loans by Class of Loans | Based on the most recent analysis performed, the risk category of loans, by type and year of origination, at June 30, 2022, is as follows. June 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Revolving Loans Converted to Term Total Commercial real estate Risk rating Pass $ 229,399 $ 278,359 $ 210,424 $ 133,787 $ 125,997 $ 206,294 $ 447,861 $ 1,318 $ 1,633,439 Special mention 294 220 — — — 576 — — 1,090 Substandard — 3,145 369 173 73 4,170 609 — 8,539 Doubtful — — — — — — — — — Total commercial real estate $ 229,693 $ 281,724 $ 210,793 $ 133,960 $ 126,070 $ 211,040 $ 448,470 $ 1,318 $ 1,643,068 Commercial and industrial Risk rating Pass $ 113,838 $ 108,123 $ 79,707 $ 46,546 $ 8,109 $ 14,022 $ 177,644 $ 2,027 $ 550,016 Special mention — — — — 693 3,775 — — 4,468 Substandard 148 4,215 2,913 10,162 1,480 831 4,666 — 24,415 Doubtful — — — — — — — — — Total commercial and industrial $ 113,986 $ 112,338 $ 82,620 $ 56,708 $ 10,282 $ 18,628 $ 182,311 $ 2,026 $ 578,899 Residential real estate Risk rating Pass $ 17,504 $ 311,614 $ 6,352 $ 16,170 $ 52,637 $ 115,386 $ 56,027 $ 152 $ 575,842 Special mention — — — — — 24 — — 24 Substandard — — 52 47 223 2,673 75 — 3,070 Doubtful — — — — — — — — — Total residential real estate $ 17,504 $ 311,614 $ 6,404 $ 16,217 $ 52,860 $ 118,083 $ 56,102 $ 152 $ 578,936 Agricultural real estate Risk rating Pass $ 18,490 $ 24,251 $ 30,299 $ 20,000 $ 9,169 $ 23,511 $ 67,465 $ 300 $ 193,485 Special mention — — — — — 486 22 — 508 Substandard 107 1,519 — 117 467 1,292 443 — 3,945 Doubtful — — — — — — — — — Total agricultural real estate $ 18,597 $ 25,770 $ 30,299 $ 20,117 $ 9,636 $ 25,289 $ 67,930 $ 300 $ 197,938 Agricultural Risk rating Pass $ 14,040 $ 14,438 $ 13,361 $ 3,702 $ 2,641 $ 2,575 $ 65,845 $ 75 $ 116,677 Special mention — — — 86 32 375 — — 493 Substandard — 1,724 1,925 2,086 388 251 1,209 — 7,583 Doubtful — — — — — — — — — Total agricultural $ 14,040 $ 16,162 $ 15,286 $ 5,874 $ 3,061 $ 3,201 $ 67,054 $ 75 $ 124,753 Consumer Risk rating Pass $ 39,242 $ 23,191 $ 11,006 $ 4,740 $ 2,264 $ 4,234 $ 14,907 $ 1 $ 99,585 Special mention — — — — — — — — — Substandard — 41 66 96 25 39 — — 267 Doubtful — — — — — — — — — Total consumer $ 39,242 $ 23,232 $ 11,072 $ 4,836 $ 2,289 $ 4,273 $ 14,907 $ 1 $ 99,852 Total loans Risk rating Pass $ 432,513 $ 759,976 $ 351,149 $ 224,945 $ 200,817 $ 366,022 $ 829,749 $ 3,873 $ 3,169,044 Special mention 294 220 — 86 725 5,236 22 — 6,583 Substandard 255 10,644 5,325 12,681 2,656 9,256 7,002 — 47,819 Doubtful — — — — — — — — — Total loans $ 433,062 $ 770,840 $ 356,474 $ 237,712 $ 204,198 $ 380,514 $ 836,773 $ 3,873 $ 3,223,446 Based on the analysis performed at December 31, 2021, the risk category of loans, by type and year of origination is as follows. December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Revolving Loans Converted to Term Total Commercial real estate Risk rating Pass $ 301,947 $ 212,444 $ 159,374 $ 134,465 $ 72,249 $ 164,363 $ 409,109 $ 594 $ 1,454,545 Special mention 126 885 — 11,817 1,168 8,705 — — 22,701 Substandard 1,687 401 145 77 828 5,764 — — 8,902 Doubtful — — — — — — — — — Total commercial real estate $ 303,760 $ 213,730 $ 159,519 $ 146,359 $ 74,245 $ 178,832 $ 409,109 $ 594 $ 1,486,148 Commercial and industrial Risk rating Pass $ 170,263 $ 100,457 $ 57,955 $ 11,019 $ 17,327 $ 8,855 $ 155,181 $ 9,726 $ 530,783 Special mention 19 — 1,958 1,482 284 5,750 — — 9,493 Substandard 4,200 5,410 10,238 1,417 444 43 5,469 — 27,221 Doubtful — — — — — — — — — Total commercial and industrial $ 174,482 $ 105,867 $ 70,151 $ 13,918 $ 18,055 $ 14,648 $ 160,650 $ 9,726 $ 567,497 Residential real estate Risk rating Pass $ 336,775 $ 24,633 $ 22,520 $ 60,461 $ 34,453 $ 102,363 $ 51,584 $ 184 $ 632,973 Special mention — — — — — 25 — — 25 Substandard — 79 48 159 1,909 2,740 154 — 5,089 Doubtful — — — — — — — — — Total residential real estate $ 336,775 $ 24,712 $ 22,568 $ 60,620 $ 36,362 $ 105,128 $ 51,738 $ 184 $ 638,087 Agricultural real estate Risk rating Pass $ 38,412 $ 36,667 $ 18,442 $ 12,142 $ 14,432 $ 21,792 $ 42,541 $ — $ 184,428 Special mention 682 — — — 40 456 32 — 1,210 Substandard 1,705 206 6,020 592 2,530 554 1,085 — 12,692 Doubtful — — — — — — — — — Total agricultural real estate $ 40,799 $ 36,873 $ 24,462 $ 12,734 $ 17,002 $ 22,802 $ 43,658 $ — $ 198,330 Agricultural Risk rating Pass $ 27,637 $ 17,393 $ 6,391 $ 2,399 $ 2,930 $ 1,593 $ 93,982 $ 172 $ 152,497 Special mention — — 90 1,299 — 645 — — 2,034 Substandard 3,456 2,112 1,414 1,651 137 1,164 2,510 — 12,444 Doubtful — — — — — — — — — Total agricultural $ 31,093 $ 19,505 $ 7,895 $ 5,349 $ 3,067 $ 3,402 $ 96,492 $ 172 $ 166,975 Consumer Risk rating Pass $ 40,692 $ 15,171 $ 7,186 $ 3,640 $ 2,228 $ 3,551 $ 25,799 $ 1 $ 98,268 Special mention — — — — — — — — — Substandard 6 154 94 15 24 29 — — 322 Doubtful — — — — — — — — — Total consumer $ 40,698 $ 15,325 $ 7,280 $ 3,655 $ 2,252 $ 3,580 $ 25,799 $ 1 $ 98,590 Total loans Risk rating Pass $ 915,726 $ 406,765 $ 271,868 $ 224,126 $ 143,619 $ 302,517 $ 778,196 $ 10,677 $ 3,053,494 Special mention 827 885 2,048 14,598 1,492 15,581 32 — 35,463 Substandard 11,054 8,362 17,959 3,911 5,872 10,294 9,218 — 66,670 Doubtful — — — — — — — — — Total loans $ 927,607 $ 416,012 $ 291,875 $ 242,635 $ 150,983 $ 328,392 $ 787,446 $ 10,677 $ 3,155,627 |
Schedule of Troubled Debt Restructurings by Accrual Status | The following table summarizes the Company’s TDRs by accrual status at June 30, 2022, and December 31, 2021. The allowance for credit losses on nonaccrual loans represents specific loan reserves, while the allowance on accrual loans represents collectively evaluated estimated losses. June 30, 2022 Nonaccrual Related Allowance for Credit Losses Accrual Related Allowance for Credit Losses Total TDR Loan Balance Total Related Allowance for Credit Losses Commercial real estate $ 4,045 $ 688 $ 4,226 $ 251 $ 8,271 $ 939 Commercial and industrial 2,321 109 1,813 223 4,134 332 Residential real estate — — — — — — Agricultural real estate 1,181 602 1,650 284 2,831 886 Agricultural 2,956 189 — — 2,956 189 Total troubled debt restructurings $ 10,503 $ 1,588 $ 7,689 $ 758 $ 18,192 $ 2,346 December 31, 2021 Nonaccrual Related Allowance for Credit Losses Commercial real estate $ 5,784 $ 1,370 Commercial and industrial 54 27 Residential real estate 1,547 13 Agricultural real estate 2,122 488 Agricultural 1,292 480 Total troubled debt restructurings $ 10,799 $ 2,378 |
Schedule of Categories of Loans Under the Payment Deferral Program | The following table lists loans included in the payment deferral program under the CARES Act by deferment type and category at December 31, 2021. There were no CARES Act deferred loans at June 30, 2022. December 31, 2021 Commercial Real Estate Commercial and Industrial Total 3 months principal and interest, then 6 months principal only $ 31,884 $ 3,052 $ 34,936 6 months principal and interest, then 9 months principal only 971 398 1,369 Total loans $ 32,855 $ 3,450 $ 36,305 |
Schedule of Classification Status of Loans Participating in Payment Deferral Program | The classification status of loans participating in the payment deferral program at December 31, 2021, is listed below. There were no such deferrals at June 30, 2022. December 31, 2021 Unclassified Classified Total Commercial real estate $ 32,855 $ — $ 32,855 Commercial and industrial 3,450 — 3,450 Total loans $ 36,305 $ — $ 36,305 |
Off Balance Sheet Credit Exposure | The following table lists allowance for credit losses on off-balance-sheet credit exposures as of June 30, 2022, and December 31, 2021. Allowance for Credit Losses June 30, 2022 December 31, 2021 Commercial real estate $ 402 $ 484 Commercial and industrial 742 1,323 Residential real estate 49 16 Agricultural 4 3 Consumer 321 397 Total allowance for credit losses $ 1,518 $ 2,223 |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Interest Rate Swaps Designated as Cash Flow Hedges | June 30, 2022 December 31, 2021 Weighted average Maturity in years Weighted average pay rate Weighted average rate received Weighted average Maturity in years Weighted average pay rate Weighted average rate received Subordinated note hedges 13.2 2.81 % 1.80 % 13.7 2.81 % 1.92 % Fixed rate loan hedges 1.8 4.00 5.60 — — — Total cash flow hedges 2.3 3.94 % 5.42 % 13.7 2.81 % 1.92 % |
Summary of Notional Balance and Fair Values of Derivatives Outstanding | The following table shows the notional balances and fair values (including net accrued interest) of the derivatives outstanding by derivative type at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate swaps $ 22,107 $ 1,694 $ — $ 26,663 $ — $ 369 Derivatives designated as cash flow hedges: Interest rate swaps 157,500 1,733 1,549 7,500 602 — Total derivatives designated as hedging relationships 179,607 3,427 1,549 34,163 602 369 Derivatives not designated as hedging instruments: Interest rate swaps 150,375 2,379 2,098 150,780 4,419 5,184 Total derivatives not designated as hedging instruments 150,375 2,379 2,098 150,780 4,419 5,184 Total $ 329,982 5,806 3,647 $ 184,943 5,021 5,553 Cash collateral — 2,162 — (8,441 ) Netting adjustments (2,112 ) (2,112 ) 2,994 2,994 Net amount presented in Balance Sheet $ 3,694 $ 3,697 $ 8,015 $ 106 |
Summary of Designated and Qualifying Hedged Items in Fair Value Hedges | The table below lists designated and qualifying hedged items in fair value hedges at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Carrying Amount Hedging Fair Value Adjustment Fair Value Adjustments on Discontinued Hedges Carrying Amount Hedging Fair Value Adjustment Fair Value Adjustments on Discontinued Hedges Commercial real estate loans $ 20,270 $ (1,764 ) $ — $ 26,661 $ 213 $ — Total $ 20,270 $ (1,764 ) $ — $ 26,661 $ 213 $ — |
Summary of Net Gains/ (Losses) on Derivatives and Hedging Activities | For the three and six month periods ended June 30, 2022 and 2021, the Company recorded net gains (losses) on derivatives and hedging activities. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Derivatives designated as hedging instruments: Interest rate swaps $ 64 $ — $ 102 $ — Total net gain (loss) related to derivatives designated as hedging instruments 64 — 102 — Derivatives designated as cash flow hedges: Interest rate swaps — — — — Total net gain (loss) related to derivatives designated as cash flow hedges — — — — Total net gains (losses) related to hedging relationships 64 — 102 — Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 467 (105 ) 1,142 245 Total net gains (losses) related to derivatives not designated as hedging instruments 467 (105 ) 1,142 245 Net gains (losses) on derivatives and hedging activities $ 531 $ (105 ) $ 1,244 $ 245 |
Summary of Recorded Net Gains (Losses) on Derivatives and Related Hedged Items in Fair Value Hedging Relationships | The following table shows the recorded net gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the three month periods ended June 30, 2022 and 2021. June 30, 2022 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ 683 $ (619 ) $ 64 $ 629 Total $ 683 $ (619 ) $ 64 $ 629 June 30, 2021 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ 33 $ (33 ) $ — $ (28 ) Total $ 33 $ (33 ) $ — $ (28 ) The following table shows the recorded net gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the six month periods ended June 30, 2022 and 2021. June 30, 2022 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ 2,079 $ (1,977 ) $ 102 $ 472 Total $ 2,079 $ (1,977 ) $ 102 $ 472 June 30, 2021 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ (171 ) $ 171 $ — $ (56 ) Total $ (171 ) $ 171 $ — $ (56 ) |
LEASE OBLIGATIONS (Tables)
LEASE OBLIGATIONS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Leases [Abstract] | |
Schedule of Right-of-use Asset and Lease Obligations by Type of Property | Right-of-use asset and lease obligations by type of property for the periods ended June 30, 2022, and December 31, 2021, are listed below. June 30, 2022 Operating Leases Right-of-Use Asset Lease Liability Weighted Average Lease Term in Years Weighted Average Discount Rate Land and building leases $ 5,627 $ 5,669 16.0 2.79 % Total operating leases $ 5,627 $ 5,669 16.0 2.79 % Right-of-use-asset reported in premise and equipment $ 3,437 Right-of-use-asset not in operation, reported in other real estate owned 2,190 Total $ 5,627 During the quarter ended June 30, 2022, one of our bank locations became non-operational. The right-of-use-asset for this location was transferred to other real estate owned, the weighted average lease term is 8.8 years. December 31, 2021 Operating Leases Right-of-Use Asset Lease Liability Weighted Average Lease Term in Years Weighted Average Discount Rate Land and building leases $ 5,963 $ 5,928 13.3 2.30 % Total operating leases $ 5,963 $ 5,928 13.3 2.30 % |
Schedule of Operating Lease Costs | Operating lease costs for the three and six month periods ended June 30, 2022 and 2021, are listed below. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 191 $ 126 $ 399 $ 251 Short-term lease cost — — — — Variable lease cost 5 3 27 13 Total operating lease cost $ 196 $ 129 $ 426 $ 264 |
Schedule of Maturity Analysis of Operating Lease Liabilities and Reconciliation of Undiscounted Cash Flows to Total Operating Lease Liability | A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is listed below. Lease Payments June 30, 2022 Due in one year or less $ 794 Due after one year through two years 607 Due after two years through three years 554 Due after three years through four years 555 Due after four years through five years 553 Thereafter 3,731 Total undiscounted cash flows 6,794 Discount on cash flows (1,125 ) Total operating lease liability $ 5,669 |
BORROWINGS (Tables)
BORROWINGS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Schedule of Federal Funds Purchased and Retail Repurchase Agreements | Federal funds purchased and retail repurchase agreements as of June 30, 2022, and December 31, 2021, are listed below. June 30, 2022 December 31, 2021 Federal funds purchased $ — $ — Retail repurchase agreements 52,750 56,006 |
Schedule of Borrowing Usage and Interest Rate Information for Federal Funds Purchased and Retail Repurchase Agreements | The following table presents the borrowing usage and interest rate information for federal funds purchased and retail repurchase agreements at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Average daily balance during the period $ 57,217 $ 45,819 Average interest rate during the period 0.26 % 0.23 % Maximum month-end balance year-to-date $ 64,323 $ 56,006 Weighted average interest rate at period-end 0.32 % 0.23 % |
Summary of Federal Home Loan Bank Advances | Federal Home Loan Bank advances as of June 30, 2022, are as follows. June 30, 2022 Weighted Average Rate Weighted Average Term in Years Federal Home Loan Bank line of credit advances $ — — — Federal Home Loan Bank fixed-rate term advances 80,000 1.50 % — Total Federal Home Loan Bank advances $ 80,000 |
Schedule of Subordinated Debt | Subordinated debt as of June 30, 2022, and December 31, 2021, are listed below. June 30, 2022 December 31, 2021 Subordinated debentures $ 23,088 $ 22,924 Subordinated notes 73,047 72,961 Total $ 96,135 $ 95,885 |
Schedule of Subordinated Notes | Subordinated notes as of June 30, 2022, are listed below. June 30, 2022 Weighted Average Rate Weighted Average Term in Years Subordinated notes $ 75,000 7.00 % 8.0 Total principal outstanding 75,000 Debt issuance cost (1,953 ) Total subordinated notes $ 73,047 Subordinated notes as of December 31, 2021, are listed below. December 31, 2021 Weighted Average Rate Weighted Average Term in Years Subordinated notes $ 75,000 7.00 % 8.5 Total principal outstanding 75,000 Debt issuance cost (2,039 ) Total subordinated notes $ 72,961 |
Summary of Future Principal Repayments | Future principal repayments of the June 30, 2022, outstanding balances are as follows. Retail Repurchase Agreements FHLB Advances Subordinated Debentures Subordinated Notes Total Due in one year or less $ 52,750 $ 80,000 $ — $ — $ 132,750 Due after one year through two years — — — — — Due after two years through three years — — — — — Due after three years through four years — — — — — Due after four years through five years — — — — — Thereafter — — 28,352 75,000 103,352 Total $ 52,750 $ 80,000 $ 28,352 $ 75,000 $ 236,102 |
Trust Preferred Securities [Member] | |
Schedule of Subordinated Debt | Subordinated debentures as of June 30, 2022, and December 31, 2021, are listed below. June 30, 2022 Weighted Average Rate Weighted Average Term in Years CTII subordinated debentures $ 10,310 3.04 % 12.8 CTIII subordinated debentures 5,155 2.72 % 15.0 CFSTI subordinated debentures 5,155 4.22 % 10.5 ASBI subordinated debentures 7,732 2.63 % 13.2 Total contractual balance 28,352 Fair market value adjustments (5,264 ) Total subordinated debentures $ 23,088 December 31, 2021 Weighted Average Rate Weighted Average Term in Years CTII subordinated debentures $ 10,310 2.12 % 13.3 CTIII subordinated debentures 5,155 2.08 % 15.5 CFSTI subordinated debentures 5,155 3.47 % 11.0 ASBI subordinated debentures 7,732 2.00 % 13.8 Total contractual balance 28,352 Fair market value adjustments (5,428 ) Total subordinated debentures $ 22,924 |
STOCKHOLDERS' EQUITY (Tables)
STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Summary of Shares Issued and Held in Treasury or Outstanding | The following table presents shares that were issued, held in treasury or were outstanding at June 30, 2022, and December 31, 2021. June 30, 2022 December 31, 2021 Class A common stock – issued 20,163,989 20,077,059 Class A common stock – held in treasury (4,057,171 ) (3,316,944 ) Class A common stock – outstanding 16,106,818 16,760,115 Class B common stock – issued 234,903 234,903 Class B common stock – held in treasury (234,903 ) (234,903 ) Class B common stock – outstanding — — |
Summary of Offering Periods and Costs | In 2019, the Company’s Board of Directors adopted the Equity Bancshares, Inc. 2019 Employee Stock Purchase Plan (“ESPP”). The ESPP enables eligible employees to purchase the Company’s common stock at a price per share equal to 85% of the lower of the fair market value of the common stock at the beginning or end of each offering period. ESPP compensation expense of $42 and $78 was recorded for the three and six month periods ended June 30, 2022. ESPP compensation expense of $30 and $55 was recorded for the three and six month periods ended June 30, 2021.The following table presents the offering periods and costs associated with this program during the reporting period. Offering Period Shares Purchased Cost Per Share Compensation Expense August 15, 2020 to February 14, 2021 17,621 $ 13.68 $ 42 February 15, 2021 to August 14, 2021 16,034 20.50 58 August 15, 2021 to February 14, 2022 14,274 27.37 69 |
Components of Accumulated Other Comprehensive Income | Components of accumulated other comprehensive income as of June 30, 2022, and December 31, 2021, are listed below. Available-for- Sale Securities Cash Flow Hedges Accumulated Other Comprehensive Income (Loss) June 30, 2022 Net unrealized or unamortized gains (losses) $ (102,353 ) $ (525 ) $ (102,878 ) Tax effect 25,322 130 25,452 $ (77,031 ) $ (395 ) $ (77,426 ) December 31, 2021 Net unrealized or unamortized gains (losses) $ 2,427 $ (58 ) $ 2,369 Tax effect (607 ) 14 $ (593 ) $ 1,820 $ (44 ) $ 1,776 |
REGULATORY MATTERS (Tables)
REGULATORY MATTERS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Banking And Thrift Disclosure [Abstract] | |
Summary of Company's and Equity Bank's Capital Amounts and Ratios | The Company’s and Equity Bank’s capital amounts and ratios at June 30, 2022, and December 31, 2021, are presented in the table below. Ratios provided for Equity Bancshares, Inc. represent the ratios of the Company on a consolidated basis. Actual Minimum Required for Capital Adequacy Under Basel III To Be Well Capitalized Under Prompt Corrective Provisions Amount Ratio Amount Ratio Amount Ratio June 30, 2022 Total capital to risk weighted assets Equity Bancshares, Inc. $ 582,458 15.97 % $ 382,980 10.50 % $ N/A N/A Equity Bank 551,436 15.14 % 382,540 10.50 % 364,324 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 463,767 12.71 % 310,031 8.50 % N/A N/A Equity Bank 505,843 13.88 % 309,675 8.50 % 291,459 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 440,679 12.08 % 255,320 7.00 % N/A N/A Equity Bank 505,843 13.88 % 255,027 7.00 % 236,810 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 463,767 9.11 % 203,674 4.00 % N/A N/A Equity Bank 505,843 9.94 % 203,462 4.00 % 254,328 5.00 % December 31, 2021 Total capital to risk weighted assets Equity Bancshares, Inc. $ 571,514 15.96 % $ 376,013 10.50 % $ N/A N/A Equity Bank 546,503 15.28 % 375,646 10.50 % 357,758 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 453,718 12.67 % 304,391 8.50 % N/A N/A Equity Bank 501,711 14.02 % 304,094 8.50 % 286,206 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 430,794 12.03 % 250,675 7.00 % N/A N/A Equity Bank 501,711 14.02 % 250,430 7.00 % 232,543 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 453,718 9.09 % 199,563 4.00 % N/A N/A Equity Bank 501,711 10.07 % 199,381 4.00 % 249,226 5.00 % |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Share | The following table presents earnings per share for the three and six month periods ended June 30, 2022, and 2021. Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Basic: Net income (loss) allocable to common stockholders $ 15,259 $ 15,166 $ 30,909 $ 30,241 Weighted average common shares outstanding 16,106,643 14,355,310 16,426,098 14,405,370 Weighted average vested restricted stock units 40 1,648 2,437 4,958 Weighted average shares 16,106,683 14,356,958 16,428,535 14,410,328 Basic earnings (loss) per common share $ 0.95 $ 1.06 $ 1.88 $ 2.10 Diluted: Net income (loss) allocable to common stockholders $ 15,259 $ 15,166 $ 30,909 $ 30,241 Weighted average common shares outstanding for: Basic earnings per common share 16,106,683 14,356,958 16,428,535 14,410,328 Dilutive effects of the assumed exercise of stock options 95,010 207,322 98,886 188,083 Dilutive effects of the assumed vesting of restricted stock units 109,036 107,286 110,618 103,267 Dilutive effects of the assumed exercise of ESPP purchases 2,224 3,272 1,931 2,562 Average shares and dilutive potential common shares 16,312,953 14,674,838 16,639,970 14,704,240 Diluted earnings (loss) per common share $ 0.94 $ 1.03 $ 1.86 $ 2.06 |
Schedule of Average Shares Not Included In the Computation of Diluted Earnings Per Share | Average shares not included in the computation of diluted earnings per share because they were antidilutive are shown in the following table for the three and six month periods ended June 30, 2022, and 2021. Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Stock options 281,669 301,709 205,750 302,165 Restricted stock units 3,505 7,575 3,505 8,799 Total antidilutive shares 285,174 309,284 209,255 310,964 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis are summarized in the following tables as of June 30, 2022, and December 31, 2021. June 30, 2022 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: U.S. Government-sponsored entities $ — $ 111,393 $ — U.S. Treasury securities 238,565 — — Mortgage-backed securities Government-sponsored residential mortgage-backed securities — 558,472 — Private label residential mortgage-backed securities — 179,457 — Corporate — 55,043 — Small Business Administration loan pools — 14,311 — State and political subdivisions — 130,939 — Derivative assets: Derivative assets (included in other assets) — 5,806 — Cash collateral held by counterparty and netting adjustments (2,112 ) — — Total derivative assets (2,112 ) 5,806 — Other assets: Equity securities with readily determinable fair value 573 — — Total other assets 573 — — Total assets $ 237,026 $ 1,055,421 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 3,647 $ — Cash collateral held by counterparty and netting adjustments 50 — — Total derivative liabilities 50 3,647 — Total liabilities $ 50 $ 3,647 $ — December 31, 2021 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: U.S. Government-sponsored entities $ — $ 123,407 $ — U.S. Treasury securities 155,602 — — Mortgage-backed securities Government-sponsored residential mortgage- backed securities — 664,887 — Private label residential mortgage-backed securities — 171,688 — Corporate — 53,777 — Small Business Administration loan pools — 16,475 — State and political subdivisions — 141,606 — Derivative assets: Derivative assets (included in other assets) — 5,021 — Cash collateral held by counterparty and netting adjustments 2,994 — — Total derivative assets 2,994 5,021 — Other assets: Equity securities with readily determinable fair value 644 — — Total other assets 644 — — Total assets $ 159,240 $ 1,176,861 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 5,553 $ — Cash collateral held by counterparty and netting adjustments (5,447 ) — — Total derivative liabilities (5,447 ) 5,553 — Total liabilities $ (5,447 ) $ 5,553 $ — |
Summary of Assets Measured at Fair Value on Non-recurring Basis | Assets measured at fair value on a non-recurring basis are summarized below as of June 30, 2022, and December 31, 2021. June 30, 2022 (Level 1) (Level 2) (Level 3) Individually evaluated loans: Commercial real estate $ — $ — $ 1,848 Commercial and industrial — — 1,020 Residential real estate — — 2,185 Agricultural real estate — — 2,002 Other — — 2,319 Other real estate owned: Commercial real estate — — 2,175 Residential real estate — — 48 December 31, 2021 (Level 1) (Level 2) (Level 3) Individually evaluated loans: Commercial real estate $ — $ — $ 5,201 Commercial and industrial — — 2,793 Residential real estate — — 3,758 Agricultural real estate — — 2,101 Other — — 4,068 Other real estate owned: Commercial real estate — — 2,043 Residential real estate — — 191 |
Summary of Additional Information about Unobservable Inputs Used in Fair Value Measurement | The following table presents additional information about the unobservable inputs used in the fair value measurement of financial assets measured on a nonrecurring basis that were categorized with Level 3 of the fair value hierarchy as of June 30, 2022, and December 31, 2021. Fair Value Valuation Technique Unobservable Input Range (weighted June 30, 2022 Individually evaluated real estate loans $ 9,374 Sales Comparison Approach Adjustments for differences comparable sales 5% - 52% (28%) Individually evaluated other real estate owned $ 2,223 Sales Comparison Approach Adjustments for differences comparable sales 3% - 20% (12%) December 31, 2021 Individually evaluated real estate loans $ 17,921 Sales Comparison Approach Adjustments for differences comparable sales 5% - 31% (18%) Individually evaluated other real estate owned $ 2,234 Sales Comparison Approach Adjustments for differences comparable sales 3% - 20% (12%) |
Carrying Amount and Estimated Fair Values of Financial Instrument | Carrying amount and estimated fair values of financial instruments at period end were as follows for June 30, 2022, and December 31, 2021. June 30, 2022 Carrying Amount Estimated Fair Value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 103,584 $ 103,584 $ 103,584 $ — $ — Available-for-sale securities 1,288,180 1,288,180 238,565 1,049,615 — Loans held for sale 1,714 1,714 — 1,714 — Loans, net of allowance for credit losses 3,175,208 3,134,957 — — 3,134,957 Federal Reserve Bank and Federal Home Loan Bank stock 21,479 21,479 — 21,479 — Interest receivable 16,519 16,519 — 16,519 — Derivative assets 5,806 5,806 — 5,806 — Cash collateral held by derivative counterparty and netting adjustments (2,112 ) (2,112 ) (2,112 ) — — Total derivative assets 3,694 3,694 (2,112 ) 5,806 — Equity securities with readily determinable fair value 573 573 573 — — Total assets $ 4,610,951 $ 4,570,700 $ 340,610 $ 1,095,133 $ 3,134,957 Financial liabilities: Deposits $ 4,291,771 $ 4,284,337 $ — $ 4,284,337 $ — Federal funds purchased and retail repurchase agreements 52,750 52,750 — 52,750 — Federal Home Loan Bank advances 80,000 80,000 — 80,000 — Subordinated debentures 23,088 23,088 — 23,088 — Subordinated notes 73,047 74,360 — 74,360 — Contractual obligations 15,813 15,813 — 15,813 — Interest payable 492 492 — 492 — Derivative liabilities 3,647 3,647 — 3,647 — Cash collateral held by derivative counterparty and netting adjustments 50 50 50 — — Total derivative liabilities 3,697 3,697 50 3,647 — Total liabilities $ 4,540,658 $ 4,534,537 $ 50 $ 4,534,487 $ — December 31, 2021 Carrying Amount Estimated Fair Value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 259,954 $ 259,954 $ 259,954 $ — $ — Available-for-sale securities 1,327,442 1,327,442 155,601 1,171,841 — Loans held for sale 4,214 4,214 — 4,214 — Loans, net of allowance for credit losses 3,107,262 3,100,232 — — 3,100,232 Federal Reserve Bank and Federal Home Loan Bank stock 17,510 17,510 — 17,510 — Interest receivable 18,048 18,048 — 18,048 — Derivative assets 5,021 5,021 — 5,021 — Cash collateral held by derivative counterparty and netting adjustments 2,994 2,994 2,994 — — Total derivative assets 8,015 8,015 2,994 5,021 — Equity securities with readily determinable fair value 644 644 644 — — Total assets $ 4,743,089 $ 4,736,059 $ 419,193 $ 1,216,634 $ 3,100,232 Financial liabilities: Deposits $ 4,420,004 $ 4,421,441 $ — $ 4,421,441 $ — Federal funds purchased and retail repurchase agreements 56,006 56,006 — 56,006 — Subordinated debentures 22,924 22,924 — 22,924 — Subordinated notes 72,961 80,880 — 80,880 — Contractual obligations 17,692 17,692 — 17,692 — Interest payable 3,187 3,187 — 3,187 — Derivative liabilities 5,553 5,553 — 5,553 — Cash collateral held by derivative counterparty and netting adjustments (5,447 ) (5,447 ) (5,447 ) — — Total derivative liabilities 106 106 (5,447 ) 5,553 — Total liabilities $ 4,592,880 $ 4,602,236 $ (5,447 ) $ 4,607,683 $ — |
COMMITMENTS AND CREDIT RISK (Ta
COMMITMENTS AND CREDIT RISK (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
Summary of Contractual Amounts of Commitments and Standby Letters of Credit to Originate Loans and Available Lines of Credit | The contractual amounts of commitments to originate loans and available lines of credit as of June 30, 2022, and December 31, 2021, were as follows. June 30, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 89,350 $ 168,286 $ 101,923 $ 173,976 Mortgage loans in the process of origination 3,793 5,343 7,404 2,353 Unused lines of credit 114,878 344,260 106,291 317,249 The contractual amounts of standby letters of credit as of June 30, 2022, and December 31, 2021, were as follows. June 30, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate Standby letters of credit $ 14,138 $ 9,617 $ 14,656 $ 5,799 |
REVENUE RECOGNITION (Tables)
REVENUE RECOGNITION (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Standards Update 2014-09 [Member] | |
Disaggregation Of Revenue [Line Items] | |
Summary of Company's Source of Non-interest Income | Except for gains or losses from the sale of other real estate owned, all of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income. The following table presents the Company’s sources of non-interest income for the three and six month periods ended June 30, 2022, and 2021. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Non-interest income Service charges and fees $ 2,617 $ 2,169 $ 5,139 $ 3,765 Debit card income 2,810 2,679 5,438 5,029 Mortgage banking (a) 428 848 990 1,783 Increase in bank-owned life insurance (a) 736 676 1,601 1,277 Net gain (loss) on acquisition (a) 540 663 540 585 Net gain (loss) from securities transactions (a) (32 ) — 8 17 Other Investment referral income 140 194 283 317 Trust income 264 336 557 496 Insurance sales commissions 47 46 113 106 Recovery on zero-basis purchased loans (a) 13 19 33 53 Income (loss) from equity method investments (a) (56 ) (56 ) (111 ) (111 ) Other non-interest income related to loans and deposits 2,113 1,481 4,044 2,448 Other non-interest income not related to loans and deposits (a) 17 45 24 47 Total other non-interest income 2,538 2,065 4,943 3,356 Total $ 9,637 $ 9,100 $ 18,659 $ 15,812 (a) |
BUSINESS COMBINATIONS AND BRA_2
BUSINESS COMBINATIONS AND BRANCH SALES (Tables) - United Bank & Trust [Member] | 6 Months Ended |
Jun. 30, 2022 | |
Business Acquisition [Line Items] | |
Summary of the Amounts of Assets Acquired and Liabilities Sold | The following table summarizes the carrying value of assets and liabilities sold on June 24, 2022. |
Summary of Carrying Value of Loans and Deposits Sold | The following tables present the carrying value of loans and deposits sold to UBT on June 24, 2022. |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | $ 1,390,533 | $ 1,325,015 |
Available-for-Sale, Gross Unrealized Gains | 355 | 15,296 |
Available-for-Sale, Gross Unrealized Losses | (102,708) | (12,869) |
Available-for-Sale, Fair Value | 1,288,180 | 1,327,442 |
U.S. Government Sponsored Entities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 123,550 | 124,898 |
Available-for-Sale, Gross Unrealized Gains | 13 | |
Available-for-Sale, Gross Unrealized Losses | (12,158) | (1,504) |
Available-for-Sale, Fair Value | 111,392 | 123,407 |
U.S. Treasury securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 257,329 | 157,289 |
Available-for-Sale, Gross Unrealized Losses | (18,763) | (1,687) |
Available-for-Sale, Fair Value | 238,566 | 155,602 |
Government-Sponsored Residential Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 599,868 | 661,584 |
Available-for-Sale, Gross Unrealized Gains | 56 | 10,215 |
Available-for-Sale, Gross Unrealized Losses | (41,452) | (6,912) |
Available-for-Sale, Fair Value | 558,472 | 664,887 |
Private Label Residential Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 198,447 | 173,717 |
Available-for-Sale, Gross Unrealized Losses | (18,990) | (2,029) |
Available-for-Sale, Fair Value | 179,457 | 171,688 |
Corporate [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 56,598 | 52,555 |
Available-for-Sale, Gross Unrealized Gains | 33 | 1,437 |
Available-for-Sale, Gross Unrealized Losses | (1,588) | (215) |
Available-for-Sale, Fair Value | 55,043 | 53,777 |
Small Business Administration Loan Pools [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 14,864 | 16,568 |
Available-for-Sale, Gross Unrealized Gains | 13 | |
Available-for-Sale, Gross Unrealized Losses | (553) | (106) |
Available-for-Sale, Fair Value | 14,311 | 16,475 |
State and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 139,877 | 138,404 |
Available-for-Sale, Gross Unrealized Gains | 266 | 3,618 |
Available-for-Sale, Gross Unrealized Losses | (9,204) | (416) |
Available-for-Sale, Fair Value | $ 130,939 | $ 141,606 |
Securities - Fair Value and Amo
Securities - Fair Value and Amortized Cost of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Investments Debt And Equity Securities [Abstract] | ||
Available-for-Sale, Amortized Cost, Within one year | $ 6,955 | |
Available-for-Sale, Amortized Cost, One to five years | 258,317 | |
Available-for-Sale, Amortized Cost, Five to ten years | 244,867 | |
Available-for-Sale, Amortized Cost, After ten years | 82,079 | |
Available-for-Sale, Amortized Cost, Mortgage-backed securities | 798,315 | |
Available-for-Sale, Amortized Cost | 1,390,533 | $ 1,325,015 |
Available-for-Sale, Fair Value, Within one year | 6,978 | |
Available-for-Sale, Fair Value, One to five years | 244,218 | |
Available-for-Sale, Fair Value, Five to ten years | 225,103 | |
Available-for-Sale, Fair Value, After ten years | 73,952 | |
Available-for-Sale, Fair Value, Mortgage-backed securities | 737,929 | |
Available-for-Sale, Fair Value, Total debt securities | $ 1,288,180 | $ 1,327,442 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) Security | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Investments Debt And Equity Securities [Abstract] | ||||
Carrying value of securities pledged as collateral | $ 878,436,000 | $ 892,182,000 | ||
Number of unrealized loss position, available-for-sale securities | Security | 514 | |||
Proceeds | $ 0 | $ 3,265,000 | $ 0 |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Value of Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | $ 1,094,119 | $ 859,344 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (87,688) | (12,766) |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Fair Value | 135,403 | 5,076 |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Unrealized Loss | (15,020) | (103) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 1,229,522 | 864,420 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (102,708) | (12,869) |
U.S. Government Sponsored Entities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | 111,392 | 117,618 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (12,158) | (1,504) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 111,392 | 117,618 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (12,158) | (1,504) |
U.S. Treasury securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | 238,566 | 155,601 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (18,763) | (1,687) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 238,566 | 155,601 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (18,763) | (1,687) |
Government-Sponsored Residential Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | 433,909 | 378,057 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (27,821) | (6,860) |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Fair Value | 115,996 | 2,868 |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Unrealized Loss | (13,631) | (52) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 549,905 | 380,925 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (41,452) | (6,912) |
Private Label Residential Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | 168,463 | 159,381 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (17,623) | (1,978) |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Fair Value | 10,994 | 2,208 |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Unrealized Loss | (1,367) | (51) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 179,457 | 161,589 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (18,990) | (2,029) |
Corporate [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | 52,510 | 4,785 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (1,588) | (215) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 52,510 | 4,785 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (1,588) | (215) |
Small Business Administration Loan Pools [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | 5,898 | 15,459 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (531) | (106) |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Fair Value | 8,413 | |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Unrealized Loss | (22) | |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 14,311 | 15,459 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (553) | (106) |
State and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | 83,381 | 28,443 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (9,204) | (416) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 83,381 | 28,443 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | $ (9,204) | $ (416) |
Securities - Summary of Proceed
Securities - Summary of Proceeds from Sales and Associated Gains and Losses (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |||
Proceeds | $ 0 | $ 3,265,000 | $ 0 |
Gross gain | 115,000 | ||
Gross losses | 36,000 | ||
Income tax expense on net realized gains | $ 20,000 |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses - Categories of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | $ 3,223,446 | $ 3,155,627 | ||||
Allowance for credit losses | (48,238) | $ (47,590) | (48,365) | $ (51,834) | $ (55,525) | $ (33,709) |
Net loans | 3,175,208 | 3,107,262 | ||||
Commercial Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 1,643,068 | 1,486,148 | ||||
Allowance for credit losses | (22,665) | (21,764) | (22,478) | (15,225) | (15,118) | (9,012) |
Commercial and Industrial [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 578,899 | 567,497 | ||||
Allowance for credit losses | (13,209) | (13,814) | (12,248) | (18,690) | (19,965) | (12,456) |
Residential Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 578,936 | 638,087 | ||||
Allowance for credit losses | (6,818) | (5,960) | (5,560) | (9,808) | (11,511) | (4,559) |
Agricultural Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 197,938 | 198,330 | ||||
Allowance for credit losses | (1,007) | (1,542) | (2,235) | (847) | (1,900) | (904) |
Consumer [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 99,852 | 98,590 | ||||
Allowance for credit losses | (2,250) | (2,038) | (2,088) | (2,569) | (2,682) | (6,020) |
Agricultural [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 124,753 | 166,975 | ||||
Allowance for credit losses | $ (2,289) | $ (2,472) | $ (3,756) | $ (4,695) | $ (4,349) | $ (758) |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2022 USD ($) Loan | Jun. 30, 2021 Loan | Jun. 30, 2022 USD ($) Pool Loan | Jun. 30, 2021 USD ($) Pool Loan | Jun. 30, 2022 USD ($) Loan | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) Loan | |
Accounts Notes And Loans Receivable [Line Items] | |||||||
Loans | $ 3,175,208,000 | $ 3,175,208,000 | $ 3,175,208,000 | $ 3,107,262,000 | |||
Payments to acquire loans | 795,000 | $ 167,983,000 | |||||
Purchases of government guaranteed loans | 2,293,000 | $ 3,861,000 | |||||
Unamortized discount of merger purchase accounting adjustments | 4,548,000 | 4,548,000 | 4,548,000 | 6,649,000 | |||
Loans purchased at discount | 368,703,000 | 368,703,000 | 368,703,000 | 527,422,000 | |||
Outstanding commitments on loans | 0 | 0 | $ 0 | $ 0 | |||
Trouble debt restructurings, Number of loans | Loan | 0 | 0 | |||||
Interest income recognized | $ 15,000 | $ 15,000 | |||||
Number of loans | Loan | 0 | 0 | 0 | 20 | |||
Total loans | $ 3,223,446,000 | $ 3,223,446,000 | $ 3,223,446,000 | $ 3,155,627,000 | |||
Payment Deferral [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Total loans | 36,300,000 | 36,300,000 | 36,300,000 | ||||
3 Month Ending June 30, 2022 [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Loan modifications to troubled debt restructurings | 2,412,000 | 2,412,000 | 2,412,000 | ||||
6 Month Ending June 30, 2022 [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Loan modifications to troubled debt restructurings | 8,743,000 | 8,743,000 | 8,743,000 | ||||
Consumer Loans [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Over-draft deposit accounts | 577,000 | 577,000 | 577,000 | 886,000 | |||
Commercial and Industrial [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Total loans | 578,899,000 | 578,899,000 | 578,899,000 | 567,497,000 | |||
Commercial and Industrial [Member] | Small Business Administration Paycheck Protection Program [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Loans | 7,440,000 | 7,440,000 | 7,440,000 | 44,783,000 | |||
Unamortized loan Fees | 125,000 | 125,000 | 125,000 | 1,252,000 | |||
Residential Real Estate/Mortgage Loan Pools [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Loans | 343,966,000 | 343,966,000 | 343,966,000 | 372,069,000 | |||
Payments to acquire loans | $ 795,000 | $ 168,206,000 | |||||
Purchased pools of residential real estate | Pool | 1 | 3 | |||||
Agricultural [Member] | |||||||
Accounts Notes And Loans Receivable [Line Items] | |||||||
Financing receivable, troubled debt Restructuring, subsequent default, Amount | 752,000 | $ 0 | |||||
Total loans | $ 124,753,000 | $ 124,753,000 | $ 124,753,000 | $ 166,975,000 |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses - Schedule of Allowance for Loan Losses by Portfolio Segment Allowance (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | $ 47,590 | $ 55,525 | $ 48,365 | $ 33,709 |
Provision (reversal) for credit losses | 824 | (1,657) | 412 | (7,413) |
Loans charged-off | (382) | (713) | (916) | (1,004) |
Recoveries | 206 | 146 | 377 | 372 |
Allowance for Loan Losses, Ending Balance | 48,238 | 51,834 | 48,238 | 51,834 |
Accounting Standards Update 2016-13 | PCD Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | (1,582) | 10,438 | ||
Accounting Standards Update 2016-13 | Cumulative Effect of Adopting ASU 2016-13 | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 115 | 15,732 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 21,764 | 15,118 | 22,478 | 9,012 |
Provision (reversal) for credit losses | 911 | 91 | 419 | (4,044) |
Loans charged-off | (11) | (294) | (53) | |
Recoveries | 1 | 62 | 127 | |
Allowance for Loan Losses, Ending Balance | 22,665 | 15,225 | 22,665 | 15,225 |
Commercial Real Estate [Member] | Accounting Standards Update 2016-13 | PCD Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | (56) | 4,571 | ||
Commercial Real Estate [Member] | Accounting Standards Update 2016-13 | Cumulative Effect of Adopting ASU 2016-13 | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 72 | 5,612 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 13,814 | 19,965 | 12,248 | 12,456 |
Provision (reversal) for credit losses | (650) | 578 | 922 | 2,276 |
Loans charged-off | (35) | (54) | (79) | (61) |
Recoveries | 80 | 47 | 118 | 70 |
Allowance for Loan Losses, Ending Balance | 13,209 | 18,690 | 13,209 | 18,690 |
Commercial and Industrial [Member] | Accounting Standards Update 2016-13 | PCD Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | (1,898) | (218) | ||
Commercial and Industrial [Member] | Accounting Standards Update 2016-13 | Cumulative Effect of Adopting ASU 2016-13 | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 52 | 4,167 | ||
Residential Real Estate [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 5,960 | 11,511 | 5,560 | 4,559 |
Provision (reversal) for credit losses | 870 | (1,692) | 1,272 | (3,834) |
Loans charged-off | (46) | (3) | (48) | (12) |
Recoveries | 34 | 4 | 34 | 5 |
Allowance for Loan Losses, Ending Balance | 6,818 | 9,808 | 6,818 | 9,808 |
Residential Real Estate [Member] | Accounting Standards Update 2016-13 | PCD Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | (1) | 220 | ||
Residential Real Estate [Member] | Accounting Standards Update 2016-13 | Cumulative Effect of Adopting ASU 2016-13 | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | (11) | 8,870 | ||
Agricultural Real Estate [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 1,542 | 1,900 | 2,235 | 904 |
Provision (reversal) for credit losses | (535) | (354) | (1,235) | (700) |
Loans charged-off | (490) | (502) | ||
Recoveries | 18 | 7 | 18 | |
Allowance for Loan Losses, Ending Balance | 1,007 | 847 | 1,007 | 847 |
Agricultural Real Estate [Member] | Accounting Standards Update 2016-13 | PCD Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | (226) | 960 | ||
Agricultural Real Estate [Member] | Accounting Standards Update 2016-13 | Cumulative Effect of Adopting ASU 2016-13 | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | (1) | 167 | ||
Agricultural [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 2,472 | 4,349 | 3,756 | 758 |
Provision (reversal) for credit losses | (182) | (253) | (1,466) | (764) |
Loans charged-off | (1) | (1) | (1) | (1) |
Recoveries | 1 | 4 | ||
Allowance for Loan Losses, Ending Balance | 2,289 | 4,695 | 2,289 | 4,695 |
Agricultural [Member] | Accounting Standards Update 2016-13 | PCD Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 599 | 4,905 | ||
Agricultural [Member] | Accounting Standards Update 2016-13 | Cumulative Effect of Adopting ASU 2016-13 | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | (207) | |||
Consumer [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 2,038 | 2,682 | 2,088 | 6,020 |
Provision (reversal) for credit losses | 410 | (27) | 500 | (347) |
Loans charged-off | (289) | (165) | (494) | (375) |
Recoveries | 91 | 76 | 156 | 148 |
Allowance for Loan Losses, Ending Balance | $ 2,250 | 2,569 | $ 2,250 | 2,569 |
Consumer [Member] | Accounting Standards Update 2016-13 | Cumulative Effect of Adopting ASU 2016-13 | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | $ 3 | $ (2,877) |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses - Schedule of Loans Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for credit losses | $ 5,281 | $ 14,032 | ||||
Collectively evaluated for credit losses | 42,957 | 34,333 | ||||
Total Allowance for Loan Losses | 48,238 | $ 47,590 | 48,365 | $ 51,834 | $ 55,525 | $ 33,709 |
Individually evaluated for credit losses | 24,991 | 92,934 | ||||
Collectively evaluated for credit losses | 3,198,455 | 3,062,693 | ||||
Total Loans | 3,223,446 | 3,155,627 | ||||
Commercial Real Estate [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for credit losses | 1,188 | 4,381 | ||||
Collectively evaluated for credit losses | 21,477 | 18,097 | ||||
Total Allowance for Loan Losses | 22,665 | 21,764 | 22,478 | 15,225 | 15,118 | 9,012 |
Individually evaluated for credit losses | 6,735 | 45,421 | ||||
Collectively evaluated for credit losses | 1,636,333 | 1,440,727 | ||||
Total Loans | 1,643,068 | 1,486,148 | ||||
Commercial and Industrial [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for credit losses | 1,034 | 3,650 | ||||
Collectively evaluated for credit losses | 12,175 | 8,598 | ||||
Total Allowance for Loan Losses | 13,209 | 13,814 | 12,248 | 18,690 | 19,965 | 12,456 |
Individually evaluated for credit losses | 5,993 | 13,786 | ||||
Collectively evaluated for credit losses | 572,906 | 553,711 | ||||
Total Loans | 578,899 | 567,497 | ||||
Residential Real Estate [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for credit losses | 723 | 892 | ||||
Collectively evaluated for credit losses | 6,095 | 4,668 | ||||
Total Allowance for Loan Losses | 6,818 | 5,960 | 5,560 | 9,808 | 11,511 | 4,559 |
Individually evaluated for credit losses | 3,017 | 5,362 | ||||
Collectively evaluated for credit losses | 575,919 | 632,725 | ||||
Total Loans | 578,936 | 638,087 | ||||
Agricultural Real Estate [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for credit losses | 346 | 1,488 | ||||
Collectively evaluated for credit losses | 661 | 747 | ||||
Total Allowance for Loan Losses | 1,007 | 1,542 | 2,235 | 847 | 1,900 | 904 |
Individually evaluated for credit losses | 4,067 | 14,959 | ||||
Collectively evaluated for credit losses | 193,871 | 183,371 | ||||
Total Loans | 197,938 | 198,330 | ||||
Agricultural [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for credit losses | 1,923 | 3,546 | ||||
Collectively evaluated for credit losses | 366 | 210 | ||||
Total Allowance for Loan Losses | 2,289 | 2,472 | 3,756 | 4,695 | 4,349 | 758 |
Individually evaluated for credit losses | 4,903 | 13,049 | ||||
Collectively evaluated for credit losses | 119,850 | 153,926 | ||||
Total Loans | 124,753 | 166,975 | ||||
Consumer [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for credit losses | 67 | 75 | ||||
Collectively evaluated for credit losses | 2,183 | 2,013 | ||||
Total Allowance for Loan Losses | 2,250 | $ 2,038 | 2,088 | $ 2,569 | $ 2,682 | $ 6,020 |
Individually evaluated for credit losses | 276 | 357 | ||||
Collectively evaluated for credit losses | 99,576 | 98,233 | ||||
Total Loans | $ 99,852 | $ 98,590 |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses - Summary of Information Related to Nonaccrual Loans and Level of Collateral Supports Nonaccrual Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | $ 10,438 | $ 10,438 | $ 8,513 | ||
With no related allowance recorded, Unpaid Principal Balance | 5,431 | 5,431 | 4,102 | ||
With an allowance recorded, Unpaid Principal Balance | 18,447 | 18,447 | 30,712 | ||
With an allowance recorded, Recorded Investment | 13,429 | 13,429 | 25,259 | ||
With an allowance recorded, Allowance for Loan Losses Allocated | 4,055 | 4,055 | 7,338 | ||
Recorded Investment | 28,885 | 28,885 | 39,225 | ||
Allowance for Credit Losses Allocated | 18,860 | 18,860 | 29,361 | ||
With no related allowance recorded, Average Recorded Investment | 4,507 | $ 5,287 | 4,372 | $ 6,220 | |
With no related allowance recorded, Interest Income Recognized | 119 | 1 | 120 | ||
With an allowance recorded, Average Recorded Investment | 15,271 | 51,869 | 18,600 | 46,447 | |
With an allowance recorded, Interest Income Recognized | 4 | 27 | 4 | 204 | |
Average Recorded Investment | 19,778 | 57,156 | 22,972 | 52,667 | |
Interest Income Recognized | 4 | 146 | 5 | 324 | |
Commercial Real Estate [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 2,989 | 2,989 | |||
With no related allowance recorded, Unpaid Principal Balance | 2,327 | 2,327 | |||
With an allowance recorded, Unpaid Principal Balance | 3,353 | 3,353 | 7,690 | ||
With an allowance recorded, Recorded Investment | 2,778 | 2,778 | 6,833 | ||
With an allowance recorded, Allowance for Loan Losses Allocated | 930 | 930 | 1,632 | ||
With no related allowance recorded, Average Recorded Investment | 1,572 | 1,048 | 561 | ||
With no related allowance recorded, Interest Income Recognized | 2 | 3 | |||
With an allowance recorded, Average Recorded Investment | 2,800 | 8,010 | 4,144 | 7,306 | |
With an allowance recorded, Interest Income Recognized | 3 | 18 | |||
Commercial and Industrial [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 6,081 | 6,081 | 6,060 | ||
With no related allowance recorded, Unpaid Principal Balance | 1,964 | 1,964 | 1,964 | ||
With an allowance recorded, Unpaid Principal Balance | 1,679 | 1,679 | 4,976 | ||
With an allowance recorded, Recorded Investment | 1,387 | 1,387 | 4,593 | ||
With an allowance recorded, Allowance for Loan Losses Allocated | 367 | 367 | 1,800 | ||
With no related allowance recorded, Average Recorded Investment | 982 | 1,309 | 214 | ||
With an allowance recorded, Average Recorded Investment | 2,549 | 29,034 | 3,231 | 26,961 | |
With an allowance recorded, Interest Income Recognized | 11 | 119 | |||
Residential Real Estate [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 32 | 32 | 609 | ||
With no related allowance recorded, Unpaid Principal Balance | 429 | ||||
With an allowance recorded, Unpaid Principal Balance | 3,147 | 3,147 | 5,170 | ||
With an allowance recorded, Recorded Investment | 2,903 | 2,903 | 4,646 | ||
With an allowance recorded, Allowance for Loan Losses Allocated | 718 | 718 | 888 | ||
With no related allowance recorded, Average Recorded Investment | 553 | 11 | 512 | 67 | |
With no related allowance recorded, Interest Income Recognized | 1 | ||||
With an allowance recorded, Average Recorded Investment | 3,160 | 2,752 | 3,655 | 2,760 | |
With an allowance recorded, Interest Income Recognized | 1 | 2 | 1 | 2 | |
Agricultural Real Estate [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 1,276 | 1,276 | 1,795 | ||
With no related allowance recorded, Unpaid Principal Balance | 1,140 | 1,140 | 1,660 | ||
With an allowance recorded, Unpaid Principal Balance | 3,635 | 3,635 | 3,726 | ||
With an allowance recorded, Recorded Investment | 2,337 | 2,337 | 2,738 | ||
With an allowance recorded, Allowance for Loan Losses Allocated | 335 | 335 | 637 | ||
With no related allowance recorded, Average Recorded Investment | 1,400 | 3,210 | 1,487 | 2,504 | |
With no related allowance recorded, Interest Income Recognized | 83 | 83 | |||
With an allowance recorded, Average Recorded Investment | 2,378 | 3,787 | 2,498 | 3,531 | |
With an allowance recorded, Interest Income Recognized | 3 | 3 | 20 | ||
Agricultural [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 41 | 41 | |||
With an allowance recorded, Unpaid Principal Balance | 6,298 | 6,298 | 8,836 | ||
With an allowance recorded, Recorded Investment | 3,757 | 3,757 | 6,175 | ||
With an allowance recorded, Allowance for Loan Losses Allocated | 1,639 | 1,639 | 2,307 | ||
With no related allowance recorded, Average Recorded Investment | 2,066 | 2,874 | |||
With no related allowance recorded, Interest Income Recognized | 33 | 33 | |||
With an allowance recorded, Average Recorded Investment | 4,072 | 8,033 | 4,773 | 5,629 | |
With an allowance recorded, Interest Income Recognized | 10 | 44 | |||
Consumer [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 19 | 19 | 49 | ||
With no related allowance recorded, Unpaid Principal Balance | 49 | ||||
With an allowance recorded, Unpaid Principal Balance | 335 | 335 | 314 | ||
With an allowance recorded, Recorded Investment | 267 | 267 | 274 | ||
With an allowance recorded, Allowance for Loan Losses Allocated | 66 | 66 | $ 74 | ||
With no related allowance recorded, Average Recorded Investment | 16 | ||||
With no related allowance recorded, Interest Income Recognized | 1 | 1 | |||
With an allowance recorded, Average Recorded Investment | $ 312 | 253 | $ 299 | 260 | |
With an allowance recorded, Interest Income Recognized | $ 1 | $ 1 |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses - Schedule of Aging of Recorded Investment in Past Due Loans by Segment and Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Greater Than 90 Days Past Due Still On Accrual | $ 386 | $ 256 |
Nonaccrual | 18,860 | 29,361 |
Total loans | 3,223,446 | 3,155,627 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 2,350 | 6,026 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 3,671 | 1,740 |
Loans Not Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 3,198,179 | 3,118,244 |
Commercial Real Estate [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 1,643,068 | 1,486,148 |
Greater Than 90 Days Past Due Still On Accrual | 386 | 256 |
Nonaccrual | 5,105 | 6,833 |
Total loans | 1,643,068 | 1,486,148 |
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 598 | 4,633 |
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 249 | 408 |
Commercial Real Estate [Member] | Loans Not Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 1,636,730 | 1,474,018 |
Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 578,899 | 567,497 |
Nonaccrual | 3,351 | 6,557 |
Total loans | 578,899 | 567,497 |
Commercial and Industrial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 655 | 424 |
Commercial and Industrial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 2,923 | 88 |
Commercial and Industrial [Member] | Loans Not Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 571,970 | 560,428 |
Residential Real Estate [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 578,936 | 638,087 |
Nonaccrual | 2,903 | 5,075 |
Total loans | 578,936 | 638,087 |
Residential Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 623 | 620 |
Residential Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 357 | 1,126 |
Residential Real Estate [Member] | Loans Not Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 575,053 | 631,266 |
Agricultural Real Estate [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 197,938 | 198,330 |
Nonaccrual | 3,477 | 4,398 |
Total loans | 197,938 | 198,330 |
Agricultural Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 7 | 28 |
Agricultural Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 57 | |
Agricultural Real Estate [Member] | Loans Not Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 194,454 | 193,847 |
Agricultural [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 124,753 | 166,975 |
Nonaccrual | 3,757 | 6,175 |
Total loans | 124,753 | 166,975 |
Agricultural [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 1 | 5 |
Agricultural [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 95 | |
Agricultural [Member] | Loans Not Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 120,900 | 160,795 |
Consumer [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 99,852 | 98,590 |
Nonaccrual | 267 | 323 |
Total loans | 99,852 | 98,590 |
Consumer [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 466 | 316 |
Consumer [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 47 | 61 |
Consumer [Member] | Loans Not Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | $ 99,072 | $ 97,890 |
Loans and Allowance for Credi_9
Loans and Allowance for Credit Losses - Schedule of Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Commercial Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | $ 229,693 | $ 303,760 |
2021 | 281,724 | 213,730 |
2020 | 210,793 | 159,519 |
2019 | 133,960 | 146,359 |
2018 | 126,070 | 74,245 |
Prior | 211,040 | 178,832 |
Revolving Loans Amortized Cost | 448,470 | 409,109 |
Revolving Loans Converted to Term | 1,318 | 594 |
Total | 1,643,068 | 1,486,148 |
Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 229,399 | 301,947 |
2021 | 278,359 | 212,444 |
2020 | 210,424 | 159,374 |
2019 | 133,787 | 134,465 |
2018 | 125,997 | 72,249 |
Prior | 206,294 | 164,363 |
Revolving Loans Amortized Cost | 447,861 | 409,109 |
Revolving Loans Converted to Term | 1,318 | 594 |
Total | 1,633,439 | 1,454,545 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 294 | 126 |
2021 | 220 | 885 |
2019 | 11,817 | |
2018 | 1,168 | |
Prior | 576 | 8,705 |
Total | 1,090 | 22,701 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 1,687 | |
2021 | 3,145 | 401 |
2020 | 369 | 145 |
2019 | 173 | 77 |
2018 | 73 | 828 |
Prior | 4,170 | 5,764 |
Revolving Loans Amortized Cost | 609 | |
Total | 8,539 | 8,902 |
Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 113,986 | 174,482 |
2021 | 112,338 | 105,867 |
2020 | 82,620 | 70,151 |
2019 | 56,708 | 13,918 |
2018 | 10,282 | 18,055 |
Prior | 18,628 | 14,648 |
Revolving Loans Amortized Cost | 182,311 | 160,650 |
Revolving Loans Converted to Term | 2,026 | 9,726 |
Total | 578,899 | 567,497 |
Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 113,838 | 170,263 |
2021 | 108,123 | 100,457 |
2020 | 79,707 | 57,955 |
2019 | 46,546 | 11,019 |
2018 | 8,109 | 17,327 |
Prior | 14,022 | 8,855 |
Revolving Loans Amortized Cost | 177,644 | 155,181 |
Revolving Loans Converted to Term | 2,027 | 9,726 |
Total | 550,016 | 530,783 |
Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 19 | |
2020 | 1,958 | |
2019 | 1,482 | |
2018 | 693 | 284 |
Prior | 3,775 | 5,750 |
Total | 4,468 | 9,493 |
Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 148 | 4,200 |
2021 | 4,215 | 5,410 |
2020 | 2,913 | 10,238 |
2019 | 10,162 | 1,417 |
2018 | 1,480 | 444 |
Prior | 831 | 43 |
Revolving Loans Amortized Cost | 4,666 | 5,469 |
Total | 24,415 | 27,221 |
Residential Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 17,504 | 336,775 |
2021 | 311,614 | 24,712 |
2020 | 6,404 | 22,568 |
2019 | 16,217 | 60,620 |
2018 | 52,860 | 36,362 |
Prior | 118,083 | 105,128 |
Revolving Loans Amortized Cost | 56,102 | 51,738 |
Revolving Loans Converted to Term | 152 | 184 |
Total | 578,936 | 638,087 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 17,504 | 336,775 |
2021 | 311,614 | 24,633 |
2020 | 6,352 | 22,520 |
2019 | 16,170 | 60,461 |
2018 | 52,637 | 34,453 |
Prior | 115,386 | 102,363 |
Revolving Loans Amortized Cost | 56,027 | 51,584 |
Revolving Loans Converted to Term | 152 | 184 |
Total | 575,842 | 632,973 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Prior | 24 | 25 |
Total | 24 | 25 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2021 | 79 | |
2020 | 52 | 48 |
2019 | 47 | 159 |
2018 | 223 | 1,909 |
Prior | 2,673 | 2,740 |
Revolving Loans Amortized Cost | 75 | 154 |
Total | 3,070 | 5,089 |
Agricultural Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 18,597 | 40,799 |
2021 | 25,770 | 36,873 |
2020 | 30,299 | 24,462 |
2019 | 20,117 | 12,734 |
2018 | 9,636 | 17,002 |
Prior | 25,289 | 22,802 |
Revolving Loans Amortized Cost | 67,930 | 43,658 |
Revolving Loans Converted to Term | 300 | |
Total | 197,938 | 198,330 |
Agricultural Real Estate [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 18,490 | 38,412 |
2021 | 24,251 | 36,667 |
2020 | 30,299 | 18,442 |
2019 | 20,000 | 12,142 |
2018 | 9,169 | 14,432 |
Prior | 23,511 | 21,792 |
Revolving Loans Amortized Cost | 67,465 | 42,541 |
Revolving Loans Converted to Term | 300 | |
Total | 193,485 | 184,428 |
Agricultural Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 682 | |
2018 | 40 | |
Prior | 486 | 456 |
Revolving Loans Amortized Cost | 22 | 32 |
Total | 508 | 1,210 |
Agricultural Real Estate [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 107 | 1,705 |
2021 | 1,519 | 206 |
2020 | 6,020 | |
2019 | 117 | 592 |
2018 | 467 | 2,530 |
Prior | 1,292 | 554 |
Revolving Loans Amortized Cost | 443 | 1,085 |
Total | 3,945 | 12,692 |
Agricultural [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 14,040 | 31,093 |
2021 | 16,162 | 19,505 |
2020 | 15,286 | 7,895 |
2019 | 5,874 | 5,349 |
2018 | 3,061 | 3,067 |
Prior | 3,201 | 3,402 |
Revolving Loans Amortized Cost | 67,054 | 96,492 |
Revolving Loans Converted to Term | 75 | 172 |
Total | 124,753 | 166,975 |
Agricultural [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 14,040 | 27,637 |
2021 | 14,438 | 17,393 |
2020 | 13,361 | 6,391 |
2019 | 3,702 | 2,399 |
2018 | 2,641 | 2,930 |
Prior | 2,575 | 1,593 |
Revolving Loans Amortized Cost | 65,845 | 93,982 |
Revolving Loans Converted to Term | 75 | 172 |
Total | 116,677 | 152,497 |
Agricultural [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2020 | 90 | |
2019 | 86 | 1,299 |
2018 | 32 | |
Prior | 375 | 645 |
Total | 493 | 2,034 |
Agricultural [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 3,456 | |
2021 | 1,724 | 2,112 |
2020 | 1,925 | 1,414 |
2019 | 2,086 | 1,651 |
2018 | 388 | 137 |
Prior | 251 | 1,164 |
Revolving Loans Amortized Cost | 1,209 | 2,510 |
Total | 7,583 | 12,444 |
Consumer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 39,242 | 40,698 |
2021 | 23,232 | 15,325 |
2020 | 11,072 | 7,280 |
2019 | 4,836 | 3,655 |
2018 | 2,289 | 2,252 |
Prior | 4,273 | 3,580 |
Revolving Loans Amortized Cost | 14,907 | 25,799 |
Revolving Loans Converted to Term | 1 | 1 |
Total | 99,852 | 98,590 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 39,242 | 40,692 |
2021 | 23,191 | 15,171 |
2020 | 11,006 | 7,186 |
2019 | 4,740 | 3,640 |
2018 | 2,264 | 2,228 |
Prior | 4,234 | 3,551 |
Revolving Loans Amortized Cost | 14,907 | 25,799 |
Revolving Loans Converted to Term | 1 | 1 |
Total | 99,585 | 98,268 |
Consumer [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 6 | |
2021 | 41 | 154 |
2020 | 66 | 94 |
2019 | 96 | 15 |
2018 | 25 | 24 |
Prior | 39 | 29 |
Total | 267 | 322 |
Total Loans Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 433,062 | 927,607 |
2021 | 770,840 | 416,012 |
2020 | 356,474 | 291,875 |
2019 | 237,712 | 242,635 |
2018 | 204,198 | 150,983 |
Prior | 380,514 | 328,392 |
Revolving Loans Amortized Cost | 836,773 | 787,446 |
Revolving Loans Converted to Term | 3,873 | 10,677 |
Total | 3,223,446 | 3,155,627 |
Total Loans Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 432,513 | 915,726 |
2021 | 759,976 | 406,765 |
2020 | 351,149 | 271,868 |
2019 | 224,945 | 224,126 |
2018 | 200,817 | 143,619 |
Prior | 366,022 | 302,517 |
Revolving Loans Amortized Cost | 829,749 | 778,196 |
Revolving Loans Converted to Term | 3,873 | 10,677 |
Total | 3,169,044 | 3,053,494 |
Total Loans Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 294 | 827 |
2021 | 220 | 885 |
2020 | 2,048 | |
2019 | 86 | 14,598 |
2018 | 725 | 1,492 |
Prior | 5,236 | 15,581 |
Revolving Loans Amortized Cost | 22 | 32 |
Total | 6,583 | 35,463 |
Total Loans Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
2022 | 255 | 11,054 |
2021 | 10,644 | 8,362 |
2020 | 5,325 | 17,959 |
2019 | 12,681 | 3,911 |
2018 | 2,656 | 5,872 |
Prior | 9,256 | 10,294 |
Revolving Loans Amortized Cost | 7,002 | 9,218 |
Total | $ 47,819 | $ 66,670 |
Loans and Allowance for Cred_10
Loans and Allowance for Credit Losses - Schedule of Troubled Debt Restructurings by Accrual Status (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Financing Receivable Impaired [Line Items] | ||
Trouble debt restructurings, Nonaccrual | $ 10,503 | $ 10,799 |
Trouble debt restructurings, Related allowance for credit losses, Nonaccrual | 1,588 | |
Trouble debt restructurings, Accrual | 7,689 | |
Trouble debt restructurings, Related allowance for credit losses, Accrual | 758 | |
Total TDR Loan Balance | 18,192 | |
Trouble debt restructurings, Total related allowance for credit losses | 2,346 | 2,378 |
Commercial Real Estate [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Trouble debt restructurings, Nonaccrual | 4,045 | 5,784 |
Trouble debt restructurings, Related allowance for credit losses, Nonaccrual | 688 | |
Trouble debt restructurings, Accrual | 4,226 | |
Trouble debt restructurings, Related allowance for credit losses, Accrual | 251 | |
Total TDR Loan Balance | 8,271 | |
Trouble debt restructurings, Total related allowance for credit losses | 939 | 1,370 |
Commercial and Industrial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Trouble debt restructurings, Nonaccrual | 2,321 | 54 |
Trouble debt restructurings, Related allowance for credit losses, Nonaccrual | 109 | |
Trouble debt restructurings, Accrual | 1,813 | |
Trouble debt restructurings, Related allowance for credit losses, Accrual | 223 | |
Total TDR Loan Balance | 4,134 | |
Trouble debt restructurings, Total related allowance for credit losses | 332 | 27 |
Residential Real Estate [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Trouble debt restructurings, Nonaccrual | 1,547 | |
Trouble debt restructurings, Total related allowance for credit losses | 13 | |
Agricultural Real Estate [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Trouble debt restructurings, Nonaccrual | 1,181 | 2,122 |
Trouble debt restructurings, Related allowance for credit losses, Nonaccrual | 602 | |
Trouble debt restructurings, Accrual | 1,650 | |
Trouble debt restructurings, Related allowance for credit losses, Accrual | 284 | |
Total TDR Loan Balance | 2,831 | |
Trouble debt restructurings, Total related allowance for credit losses | 886 | 488 |
Agricultural [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Trouble debt restructurings, Nonaccrual | 2,956 | 1,292 |
Trouble debt restructurings, Related allowance for credit losses, Nonaccrual | 189 | |
Total TDR Loan Balance | 2,956 | |
Trouble debt restructurings, Total related allowance for credit losses | $ 189 | $ 480 |
Loans and Allowance for Cred_11
Loans and Allowance for Credit Losses - Schedule of Categories of Loans Under the Payment Deferral Program (Detail) $ in Thousands | Dec. 31, 2021 USD ($) |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | $ 36,305 |
3 Months Principal And Interest, Then 6 Months Principal Only [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 34,936 |
6 Months Principal And Interest, Then 9 Months Principal Only [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 1,369 |
Commercial Real Estate [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 32,855 |
Commercial Real Estate [Member] | 3 Months Principal And Interest, Then 6 Months Principal Only [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 31,884 |
Commercial Real Estate [Member] | 6 Months Principal And Interest, Then 9 Months Principal Only [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 971 |
Commercial and Industrial [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 3,450 |
Commercial and Industrial [Member] | 3 Months Principal And Interest, Then 6 Months Principal Only [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 3,052 |
Commercial and Industrial [Member] | 6 Months Principal And Interest, Then 9 Months Principal Only [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | $ 398 |
Loans and Allowance for Cred_12
Loans and Allowance for Credit Losses - Schedule of Classification of Loans Participating in Payment Deferral Program (Detail) $ in Thousands | Dec. 31, 2021 USD ($) |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | $ 36,305 |
Commercial Real Estate [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 32,855 |
Commercial and Industrial [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 3,450 |
Unclassified [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 36,305 |
Unclassified [Member] | Commercial Real Estate [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | 32,855 |
Unclassified [Member] | Commercial and Industrial [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Total loans | $ 3,450 |
Loans and Allowance for Cred_13
Loans and Allowance for Credit Losses - Schedule of Allowance for Credit Losses on Off-Balance Sheet Credit Exposures (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | $ 48,238 | $ 47,590 | $ 48,365 | $ 51,834 | $ 55,525 | $ 33,709 |
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 1,518 | 2,223 | ||||
Commercial Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 22,665 | 21,764 | 22,478 | 15,225 | 15,118 | 9,012 |
Commercial Real Estate [Member] | SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 402 | 484 | ||||
Commercial and Industrial [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 13,209 | 13,814 | 12,248 | 18,690 | 19,965 | 12,456 |
Commercial and Industrial [Member] | SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 742 | 1,323 | ||||
Residential Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 6,818 | 5,960 | 5,560 | 9,808 | 11,511 | 4,559 |
Residential Real Estate [Member] | SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 49 | 16 | ||||
Agricultural [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 2,289 | 2,472 | 3,756 | 4,695 | 4,349 | 758 |
Agricultural [Member] | SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 4 | 3 | ||||
Consumer [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | 2,250 | $ 2,038 | 2,088 | $ 2,569 | $ 2,682 | $ 6,020 |
Consumer [Member] | SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans, allowance for credit losses | $ 321 | $ 397 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) - Interest Rate Swaps [Member] | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Weighted average maturity period | 8 years 4 months 24 days | 8 years 2 months 12 days |
Weighted average pay rate | 4.74% | 4.35% |
Weighted average receive rate | 4.67% | 4.16% |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Derivative [Line Items] | ||
Weighted average maturity period | 9 years 10 days | 8 years 9 months 18 days |
Weighted average pay rate | 4.54% | 4.63% |
Weighted average receive rate | 3.01% | 3.11% |
Derivative Financial Instrume_4
Derivative Financial Instruments - Summary of Interest Rate Swaps Designated as Cash Flow Hedges (Detail) - Interest Rate Swaps [Member] - Designated as Hedging Instrument [Member] | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Subordinated Note Hedges [Member] | ||
Derivative [Line Items] | ||
Weighted average Maturity in years | 13 years 2 months 12 days | 13 years 8 months 12 days |
Weighted average pay rate | 2.81% | 2.81% |
Weighted average receive rate | 1.80% | 1.92% |
Fixed Rate Loan Hedges [Member] | ||
Derivative [Line Items] | ||
Weighted average Maturity in years | 1 year 9 months 18 days | |
Weighted average pay rate | 4% | |
Weighted average receive rate | 5.60% | |
Cash Flow Hedges [Member] | ||
Derivative [Line Items] | ||
Weighted average Maturity in years | 2 years 3 months 18 days | 13 years 8 months 12 days |
Weighted average pay rate | 3.94% | 2.81% |
Weighted average receive rate | 5.42% | 1.92% |
Derivative Financial Instrume_5
Derivative Financial Instruments - Summary of Notional Balance and Fair Values of Derivatives Outstanding (Detail) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 329,982,000 | $ 184,943,000 |
Derivative Assets | 5,806,000 | 5,021,000 |
Derivative Liabilities | 3,647,000 | 5,553,000 |
Cash collateral, Derivative Liabilities | 2,162,000 | (8,441,000) |
Netting adjustments, Derivative Assets | (2,112,000) | 2,994,000 |
Netting adjustments, Derivative Liabilities | (2,112,000) | 2,994,000 |
Net amount presented in Balance Sheet, Derivative Assets | 3,694,000 | 8,015,000 |
Net amount presented in Balance Sheet, Derivative Liabilities | 3,697,000 | 106,000 |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 179,607,000 | 34,163,000 |
Derivative Assets | 3,427,000 | 602,000 |
Derivative Liabilities | 1,549,000 | 369,000 |
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 22,107,000 | 26,663,000 |
Derivative Assets | 1,694,000 | |
Derivative Liabilities | 369,000 | |
Designated as Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 157,500,000 | 7,500,000 |
Derivative Assets | 1,733,000 | 602,000 |
Derivative Liabilities | 1,549,000 | |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 150,375,000 | 150,780,000 |
Derivative Assets | 2,379,000 | 4,419,000 |
Derivative Liabilities | 2,098,000 | 5,184,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 150,375,000 | 150,780,000 |
Derivative Assets | 2,379,000 | 4,419,000 |
Derivative Liabilities | $ 2,098,000 | $ 5,184,000 |
Derivative Financial Instrume_6
Derivative Financial Instruments - Summary of Designated and Qualifying Hedged Items in Fair Value Hedges (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Derivative [Line Items] | ||
Carrying Amount | $ 20,270 | $ 26,661 |
Hedging Fair Value Adjustment | (1,764) | 213 |
Commercial Real Estate [Member] | ||
Derivative [Line Items] | ||
Carrying Amount | 20,270 | 26,661 |
Hedging Fair Value Adjustment | $ (1,764) | $ 213 |
Derivative Financial Instrume_7
Derivative Financial Instruments - Summary of Net Gains/ (Losses) on Derivatives and Hedging Activities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Derivatives designated as hedging instruments: | ||||
Total net gain (loss) related to derivatives designated as hedging instruments | $ 64 | $ 0 | $ 102 | $ 0 |
Total net gain (loss) related to derivatives designated as cash flow hedges | 0 | 0 | 0 | 0 |
Total net gains (losses) related to hedging relationships | 64 | 0 | 102 | 0 |
Derivatives not designated as hedging instruments: | ||||
Total net gains (losses) related to derivatives not designated as hedging instruments | 467 | (105) | 1,142 | 245 |
Net gains (losses) on derivatives and hedging activities | 531 | (105) | 1,244 | 245 |
Interest Rate Swaps [Member] | ||||
Derivatives designated as hedging instruments: | ||||
Total net gain (loss) related to derivatives designated as hedging instruments | 64 | 0 | 102 | 0 |
Total net gain (loss) related to derivatives designated as cash flow hedges | 0 | 0 | 0 | 0 |
Derivatives not designated as hedging instruments: | ||||
Total net gains (losses) related to derivatives not designated as hedging instruments | $ 467 | $ (105) | $ 1,142 | $ 245 |
Derivative Financial Instrume_8
Derivative Financial Instruments - Summary of Recorded Net Gains (Losses) on Derivatives and Related Hedged Items in Fair Value Hedging Relationships (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net Fair Value Hedge Gain/(Loss) | $ 64 | $ 0 | $ 102 | $ 0 |
Fair Value Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain/(Loss) on Derivatives | 683 | 33 | 2,079 | (171) |
Gain/(Loss) on Hedged Items | (619) | (33) | (1,977) | 171 |
Net Fair Value Hedge Gain/(Loss) | 64 | 0 | 102 | 0 |
Effect of Derivatives on Net Interest Income | 629 | (28) | 472 | (56) |
Fair Value Hedging [Member] | Commercial Real Estate [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain/(Loss) on Derivatives | 683 | 33 | 2,079 | (171) |
Gain/(Loss) on Hedged Items | (619) | (33) | (1,977) | 171 |
Net Fair Value Hedge Gain/(Loss) | 64 | 0 | 102 | 0 |
Effect of Derivatives on Net Interest Income | $ 629 | $ (28) | $ 472 | $ (56) |
Lease Obligations - Schedule of
Lease Obligations - Schedule of Right-of-use Asset and Lease Obligations by Type of Property (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Leases Disclosure [Line Items] | ||
Operating Lease, Right-of-Use Asset | $ 5,627 | $ 5,963 |
Operating Leases, Lease Liability | $ 5,669 | $ 5,928 |
Operating Leases, Weighted Average Lease Term in Years | 16 years | 13 years 3 months 18 days |
Operating Leases, Weighted Average Discount Rate | 2.79% | 2.30% |
Non-Operating Leases, Right-of-Use Asset | $ 5,627 | |
Land and Building Leases [Member] | ||
Leases Disclosure [Line Items] | ||
Operating Lease, Right-of-Use Asset | 5,627 | $ 5,963 |
Operating Leases, Lease Liability | $ 5,669 | $ 5,928 |
Operating Leases, Weighted Average Lease Term in Years | 16 years | 13 years 3 months 18 days |
Operating Leases, Weighted Average Discount Rate | 2.79% | 2.30% |
Premise And Equipment | ||
Leases Disclosure [Line Items] | ||
Operating Lease, Right-of-Use Asset | $ 3,437 | |
Right-of-Use-Asset Not In Operation, Reported In Other Real Estate Owned [Member] | ||
Leases Disclosure [Line Items] | ||
Non-Operating Leases, Right-of-Use Asset | $ 2,190 |
Lease Obligations - Additional
Lease Obligations - Additional Information (Detail) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2022 | Jun. 30, 2022 | |
Lessee Lease Description [Line Items] | ||
Sales-type lease, lease not yet commenced description | There were no sales and leaseback transactions, leverage leases, lease transactions with related parties or leases that had not yet commenced during the three or six month periods ended June 30, 2022. | |
Other Real Estate Owned | ||
Lessee Lease Description [Line Items] | ||
Non-operating leases, weighted average lease term in years | 8 years 9 months 18 days |
Lease Obligations - Schedule _2
Lease Obligations - Schedule of Operating Lease Costs (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Leases [Abstract] | ||||
Operating lease cost | $ 191 | $ 126 | $ 399 | $ 251 |
Variable lease cost | 5 | 3 | 27 | 13 |
Total operating lease cost | $ 196 | $ 129 | $ 426 | $ 264 |
Lease Obligations - Schedule _3
Lease Obligations - Schedule of Maturity Analysis of Operating Lease Liabilities and Reconciliation of Undiscounted Cash Flows to Total Operating Lease Liability (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Leases [Abstract] | ||
Due in one year or less | $ 794 | |
Due after one year through two years | 607 | |
Due after two years through three years | 554 | |
Due after three years through four years | 555 | |
Due after four years through five years | 553 | |
Thereafter | 3,731 | |
Total undiscounted cash flows | 6,794 | |
Discount on cash flows | (1,125) | |
Total operating lease liability | $ 5,669 | $ 5,928 |
Borrowings - Schedule of Federa
Borrowings - Schedule of Federal Funds Purchased and Retail Repurchase Agreements (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Federal Funds Purchased And Securities Sold Under Agreements To Repurchase [Abstract] | ||
Federal funds purchased | $ 0 | $ 0 |
Retail repurchase agreements | $ 52,750 | $ 56,006 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||
Feb. 11, 2022 | Jun. 29, 2020 | Jun. 30, 2022 | Jun. 30, 2020 | Dec. 31, 2021 | Jul. 23, 2020 | |
Debt Instrument [Line Items] | ||||||
Total Federal Home Loan Bank advances | $ 80,000,000 | $ 0 | ||||
Debt Instrument, Maturity Date | Feb. 11, 2023 | Aug. 15, 2021 | ||||
Debt instrument extended date | Feb. 11, 2022 | |||||
Debt instrument term | 5 years | |||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.20% | 0.20% | ||||
Debt instrument floating daily, floor Interest Rate | 3.25% | 3.50% | ||||
Trust Preferred Securities [Member] | FCB Capital Trust II [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Apr. 15, 2035 | |||||
Subordinated debenture basis spread on variable rate | 2% | |||||
Trust Preferred Securities [Member] | FCB Capital Trust III [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Jun. 15, 2037 | |||||
Subordinated debenture basis spread on variable rate | 1.89% | |||||
Trust Preferred Securities [Member] | Community First Statutory Trust I [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Dec. 26, 2032 | |||||
Subordinated debenture basis spread on variable rate | 3.25% | |||||
Trust Preferred Securities [Member] | American State Bank Statutory Trust I [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Sep. 15, 2035 | |||||
Subordinated debenture basis spread on variable rate | 1.80% | |||||
Maximum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility maximum borrowing capacity | $ 40,000,000 | |||||
Minimum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility maximum borrowing capacity | $ 25,000,000 | |||||
Agreement with Unaffiliated Financial Institution [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility maximum borrowing capacity | $ 40,000,000 | |||||
Federal Home Loan Bank Advances [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Letter of credit | 17,455,000 | 17,025,000 | ||||
Line of credit facility maximum borrowing capacity | 687,302,000 | 710,302,000 | ||||
Line of credit facility additional borrowing capacity | 587,800,000 | 691,149,000 | ||||
Federal Home Loan Bank Advances [Member] | Securities [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility maximum borrowing capacity | 82,007,000 | 15,409,000 | ||||
Federal Home Loan Bank Advances [Member] | Qualifying Loans [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility maximum borrowing capacity | 605,295,000 | 694,892,000 | ||||
Federal Reserve Bank [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of credit facility maximum borrowing capacity | 366,864,000 | |||||
Pledged securities, fair value | 38,265,000 | |||||
Secured borrowings from this facility | 0 | 0 | ||||
Federal Reserve Bank [Member] | Asset Pledged as Collateral without Right | ||||||
Debt Instrument [Line Items] | ||||||
Pledged loan outstanding balance | 399,753,000 | |||||
Bank Stock Loan [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Bank stock loan | $ 0 | $ 0 | ||||
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Jun. 30, 2030 | |||||
Debt instrument term | 8 years | 8 years 6 months | ||||
Subordinated notes aggregate principal amount | $ 42,000,000 | $ 75,000,000 | $ 75,000,000 | $ 33,000,000 | ||
Subordinated notes commencement date | Dec. 30, 2020 | |||||
Subordinated notes fixed interest rate percentage | 7% | |||||
Subordinated notes description | From June 29, 2020, through June 29, 2025, the Company will pay interest on the notes semi-annually in arrears on June 30 and December 30 of each year, commencing on December 30, 2020, at a fixed interest rate of 7.00%. Beginning June 30, 2025, the notes convert to a floating interest rate, to be reset quarterly, equal to the then-current Three-Month Term SOFR, as defined in the Indenture, plus 688 basis points. Interest payments during the floating-rate period will be paid quarterly in arrears on March 30, June 30, September 30 and December 30 of each year, commencing on September 30, 2025. | |||||
Debt instrument, frequency of periodic payment | semi-annually | |||||
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | SOFR plus [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Subordinated notes commencement date | Sep. 30, 2025 | |||||
Debt instrument, frequency of periodic payment | quarterly | |||||
Subordinated notes variable interest rate percentage | SOFR, as defined in the Indenture, plus 688 basis points | |||||
Government-Sponsored Residential Mortgage-Backed Securities [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Residential mortgage-backed securities, fair value | $ 69,158,000 | $ 55,605,000 |
Borrowings - Schedule of Borrow
Borrowings - Schedule of Borrowing Usage and Interest Rate Information for Federal Funds Purchased and Retail Repurchase Agreements (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Debt Disclosure [Abstract] | ||
Average daily balance during the period | $ 57,217 | $ 45,819 |
Average interest rate during the period | 0.26% | 0.23% |
Maximum month-end balance year-to-date | $ 64,323 | $ 56,006 |
Weighted average interest rate at period-end | 0.32% | 0.23% |
Borrowings - Summary of Federal
Borrowings - Summary of Federal Home Loan Bank Advances (Detail) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | $ 80,000,000 | $ 0 |
Federal Home Loan Bank Fixed Rate Term Advances [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | $ 80,000,000 | |
Total Federal Home Loan Bank advances, Weighted Average Rate | 1.50% |
Borrowings - Schedule of Total
Borrowings - Schedule of Total Subordinated Debt (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Instrument Redemption [Line Items] | ||
Subordinated debt | $ 96,135 | $ 95,885 |
Subordinated Debentures [Member] | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures | 23,088 | 22,924 |
Subordinated Notes [Member] | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures | 73,047 | 72,961 |
Subordinated debt | $ 73,047 | $ 72,961 |
Borrowings - Schedule of Subord
Borrowings - Schedule of Subordinated Debentures (Detail) - Trust Preferred Securities [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures contractual balance | $ 28,352 | $ 28,352 |
Subordinated debentures fair market value adjustments | (5,264) | (5,428) |
Total subordinated debentures | 23,088 | 22,924 |
FCB Capital Trust II [Member] | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures contractual balance | $ 10,310 | $ 10,310 |
Subordinated debentures, Weighted Average Rate | 3.04% | 2.12% |
Subordinated debentures, Weighted Average Term | 12 years 9 months 18 days | 13 years 3 months 18 days |
FCB Capital Trust III [Member] | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures contractual balance | $ 5,155 | $ 5,155 |
Subordinated debentures, Weighted Average Rate | 2.72% | 2.08% |
Subordinated debentures, Weighted Average Term | 15 years | 15 years 6 months |
Community First Statutory Trust I [Member] | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures contractual balance | $ 5,155 | $ 5,155 |
Subordinated debentures, Weighted Average Rate | 4.22% | 3.47% |
Subordinated debentures, Weighted Average Term | 10 years 6 months | 11 years |
American State Bank Statutory Trust I [Member] | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures contractual balance | $ 7,732 | $ 7,732 |
Subordinated debentures, Weighted Average Rate | 2.63% | 2% |
Subordinated debentures, Weighted Average Term | 13 years 2 months 12 days | 13 years 9 months 18 days |
Borrowings - Schedule of Subo_2
Borrowings - Schedule of Subordinated Notes (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jul. 23, 2020 | Jun. 29, 2020 | |
Debt Instrument Redemption [Line Items] | ||||
Debt instrument term | 5 years | |||
Subordinated Notes [Member] | ||||
Debt Instrument Redemption [Line Items] | ||||
Subordinated notes | $ 75,000 | $ 75,000 | $ 33,000 | $ 42,000 |
Total principal outstanding | 75,000 | 75,000 | ||
Debt issuance cost | (1,953) | (2,039) | ||
Total subordinated debentures | $ 73,047 | $ 72,961 | ||
Weighted Average Rate | 7% | 7% | ||
Debt instrument term | 8 years | 8 years 6 months |
Borrowings - Schedule of Future
Borrowings - Schedule of Future Principal Repayments (Detail) $ in Thousands | Jun. 30, 2022 USD ($) |
Debt Instrument Redemption [Line Items] | |
Due in one year or less | $ 132,750 |
Thereafter | 103,352 |
Total | 236,102 |
Retail Repurchase Agreements [Member] | |
Debt Instrument Redemption [Line Items] | |
Due in one year or less | 52,750 |
Total | 52,750 |
Federal Home Loan Bank Advances [Member] | |
Debt Instrument Redemption [Line Items] | |
Due in one year or less | 80,000 |
Total | 80,000 |
Subordinated Debentures [Member] | |
Debt Instrument Redemption [Line Items] | |
Thereafter | 28,352 |
Total | 28,352 |
Subordinated Notes [Member] | |
Debt Instrument Redemption [Line Items] | |
Thereafter | 75,000 |
Total | $ 75,000 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 31, 2021 | Sep. 01, 2020 | |
Class Of Stock [Line Items] | |||||||||
Preferred stock, share outstanding | 0 | 0 | 0 | ||||||
Stock-based compensation | $ 1,548 | $ 1,660 | |||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 126,900 | 126,900 | |||||||
Additional Repurchase [Member] | |||||||||
Class Of Stock [Line Items] | |||||||||
Repurchase of shares | 740,227 | 132,873 | 679,557 | ||||||
Outstanding common stock at an average price paid per Share | $ 31.89 | $ 32.99 | $ 24.12 | ||||||
Maximum [Member] | Additional Repurchase [Member] | |||||||||
Class Of Stock [Line Items] | |||||||||
Number of shares authorized to be repurchased | 1,000,000 | 800,000 | |||||||
ESPP [Member] | |||||||||
Class Of Stock [Line Items] | |||||||||
Percentage of common stock price per share equal to lower of fair market value of common stock | 85% | ||||||||
Stock-based compensation | $ 42 | $ 30 | $ 78 | $ 55 | |||||
Class A Common Stock [Member] | |||||||||
Class Of Stock [Line Items] | |||||||||
Number of common stock shares authorized | 45,000,000 | 45,000,000 | |||||||
Shares issued, par value | $ 0.01 | $ 0.01 | |||||||
Class B Common Stock [Member] | |||||||||
Class Of Stock [Line Items] | |||||||||
Number of common stock shares authorized | 5,000,000 | 5,000,000 | |||||||
Shares issued, par value | $ 0.01 | $ 0.01 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Shares Issued and Held in Treasury or Outstanding (Detail) - shares | Jun. 30, 2022 | Dec. 31, 2021 |
Class A Common Stock [Member] | ||
Class Of Stock [Line Items] | ||
Common stock - issued | 20,163,989 | 20,077,059 |
Common stock - held in treasury | (4,057,171) | (3,316,944) |
Common stock - outstanding | 16,106,818 | 16,760,115 |
Class B Common Stock [Member] | ||
Class Of Stock [Line Items] | ||
Common stock - issued | 234,903 | 234,903 |
Common stock - held in treasury | (234,903) | (234,903) |
Common stock - outstanding | 0 | 0 |
Stockholders' Equity - Summar_2
Stockholders' Equity - Summary of Offering Periods and Costs (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Class Of Stock [Line Items] | ||||
Stock-based compensation | $ 1,548 | $ 1,660 | ||
ESPP [Member] | ||||
Class Of Stock [Line Items] | ||||
Stock-based compensation | $ 42 | $ 30 | $ 78 | $ 55 |
First offering period, start date | Aug. 15, 2020 | |||
First offering period, end date | Feb. 14, 2021 | |||
Second offering period, start date | Feb. 15, 2021 | |||
Second offering period, end date | Aug. 14, 2021 | |||
Third offering period start date | Aug. 15, 2021 | |||
Third offering period end date | Feb. 14, 2022 | |||
First Offering [Member] | ESPP [Member] | ||||
Class Of Stock [Line Items] | ||||
Common stock issued under employee stock purchase plan, share | 17,621 | |||
Cost Per Share | $ 13.68 | $ 13.68 | ||
Stock-based compensation | $ 42 | |||
Second Offering [Member] | ESPP [Member] | ||||
Class Of Stock [Line Items] | ||||
Common stock issued under employee stock purchase plan, share | 16,034 | |||
Cost Per Share | 20.50 | $ 20.50 | ||
Stock-based compensation | $ 58 | |||
Third Offering [Member] | ESPP [Member] | ||||
Class Of Stock [Line Items] | ||||
Common stock issued under employee stock purchase plan, share | 14,274 | |||
Cost Per Share | $ 27.37 | $ 27.37 | ||
Stock-based compensation | $ 69 |
Stockholders' Equity - Componen
Stockholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total | $ (77,426) | $ 1,776 |
Accumulated Net Unrealized Investment Gain (Losses) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net unrealized or unamortized gains (losses) | (102,878) | 2,369 |
Tax effect | 25,452 | (593) |
Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total | (395) | (44) |
Cash Flow Hedges [Member] | Accumulated Net Unrealized Investment Gain (Losses) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net unrealized or unamortized gains (losses) | (525) | (58) |
Tax effect | 130 | 14 |
Available for Sale Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total | (77,031) | 1,820 |
Available for Sale Securities [Member] | Accumulated Net Unrealized Investment Gain (Losses) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net unrealized or unamortized gains (losses) | (102,353) | 2,427 |
Tax effect | $ 25,322 | $ (607) |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2022 | |
Regulated Operations [Abstract] | |
CET1 capital ratio to be well capitalized under rules and prompt corrective provisions | 6.50% |
Total Tier 1 capital ratio to be well capitalized under rules and prompt corrective provisions | 0.08 |
Total capital ratio to be well capitalized under rules and prompt corrective provisions | 0.10 |
Leverage ratio to be well capitalized under rules and prompt corrective provisions | 0.05 |
Capital conservation buffer desired rate | 2.50% |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Company's and Equity Bank's Capital Amounts and Ratios (Detail) $ in Thousands | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 0.10 | |
Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 0.08 | |
Common equity Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 6.50% | |
Tier 1 leverage to average assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 0.05 | |
Equity Bancshares, Inc. [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Actual Amount | $ 582,458 | $ 571,514 |
Total capital to risk weighted assets, Actual Ratio | 0.1597 | 0.1596 |
Tier 1 capital to risk weighted assets, Actual Amount | $ 463,767 | $ 453,718 |
Tier 1 capital to risk weighted assets, Actual Ratio | 0.1271 | 0.1267 |
Common equity Tier 1 capital to risk weighted assets, Actual Amount | $ 440,679 | $ 430,794 |
Common equity Tier 1 capital to risk weighted assets, Actual Ratio | 0.1208 | 0.1203 |
Tier 1 leverage to average assets, Actual Amount | $ 463,767 | $ 453,718 |
Tier 1 leverage to average assets, Actual Ratio | 0.0911 | 0.0909 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 203,674 | $ 199,563 |
Equity Bancshares, Inc. [Member] | Base III Phase-In [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 382,980 | $ 376,013 |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 0.1050 | 0.1050 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 310,031 | $ 304,391 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 0.0850 | 0.0850 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 255,320 | $ 250,675 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7% | 7% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 0.0400 | 0.0400 |
Equity Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Actual Amount | $ 551,436 | $ 546,503 |
Total capital to risk weighted assets, Actual Ratio | 0.1514 | 0.1528 |
Total capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 364,324 | $ 357,758 |
Total capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 0.1000 | 0.1000 |
Tier 1 capital to risk weighted assets, Actual Amount | $ 505,843 | $ 501,711 |
Tier 1 capital to risk weighted assets, Actual Ratio | 0.1388 | 0.1402 |
Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 291,459 | $ 286,206 |
Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 0.0800 | 0.0800 |
Common equity Tier 1 capital to risk weighted assets, Actual Amount | $ 505,843 | $ 501,711 |
Common equity Tier 1 capital to risk weighted assets, Actual Ratio | 0.1388 | 0.1402 |
Common equity Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 236,810 | $ 232,543 |
Common equity Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 6.50% | 6.50% |
Tier 1 leverage to average assets, Actual Amount | $ 505,843 | $ 501,711 |
Tier 1 leverage to average assets, Actual Ratio | 0.0994 | 0.1007 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 203,462 | $ 199,381 |
Tier 1 leverage to average assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 0.0500 | 0.0500 |
Equity Bank [Member] | Base III Phase-In [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 382,540 | $ 375,646 |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 0.1050 | 0.1050 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 309,675 | $ 304,094 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 0.0850 | 0.0850 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 255,027 | $ 250,430 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7% | 7% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 0.0400 | 0.0400 |
Tier 1 leverage to average assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 254,328 | $ 249,226 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Basic: | ||||
Net income (loss) allocable to common stockholders | $ 15,259 | $ 15,166 | $ 30,909 | $ 30,241 |
Weighted average common shares outstanding | 16,106,643 | 14,355,310 | 16,426,098 | 14,405,370 |
Weighted average vested restricted stock units | 40 | 1,648 | 2,437 | 4,958 |
Weighted average shares | 16,106,683 | 14,356,958 | 16,428,535 | 14,410,328 |
Basic earnings (loss) per common share | $ 0.95 | $ 1.06 | $ 1.88 | $ 2.10 |
Diluted: | ||||
Net income (loss) allocable to common stockholders | $ 15,259 | $ 15,166 | $ 30,909 | $ 30,241 |
Weighted average common shares outstanding for: | ||||
Basic earnings per common share | 16,106,683 | 14,356,958 | 16,428,535 | 14,410,328 |
Dilutive effects of the assumed vesting of restricted stock units | 109,036 | 107,286 | 110,618 | 103,267 |
Average shares and dilutive potential common shares | 16,312,953 | 14,674,838 | 16,639,970 | 14,704,240 |
Diluted earnings (loss) per common share | $ 0.94 | $ 1.03 | $ 1.86 | $ 2.06 |
ESPP [Member] | ||||
Weighted average common shares outstanding for: | ||||
Dilutive effects of the assumed exercise | 2,224 | 3,272 | 1,931 | 2,562 |
Stock Options [Member] | ||||
Weighted average common shares outstanding for: | ||||
Dilutive effects of the assumed exercise | 95,010 | 207,322 | 98,886 | 188,083 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Average Shares Not Included In the Computation of Diluted Earnings Per Share (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive shares | 285,174 | 309,284 | 209,255 | 310,964 |
Stock Options [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive shares | 281,669 | 301,709 | 205,750 | 302,165 |
Restricted Stock Units [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive shares | 3,505 | 7,575 | 3,505 | 8,799 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | $ 1,288,180 | $ 1,327,442 |
Cash collateral held by counterparty and netting adjustments | (2,112) | 2,994 |
Cash collateral held by counterparty and netting adjustments | (2,112) | 2,994 |
U.S. Government Sponsored Entities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 111,392 | 123,407 |
U.S. Treasury securities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 238,566 | 155,602 |
Government-Sponsored Residential Mortgage-Backed Securities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 558,472 | 664,887 |
Private Label Residential Mortgage-Backed Securities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 179,457 | 171,688 |
Corporate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 55,043 | 53,777 |
Small Business Administration Loan Pools [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 14,311 | 16,475 |
State and Political Subdivisions [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 130,939 | 141,606 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative assets | (2,112) | 2,994 |
Cash collateral held by counterparty and netting adjustments | (2,112) | 2,994 |
Equity securities with readily determinable fair value | 573 | 644 |
Total other assets | 573 | 644 |
Total assets | 237,026 | 159,240 |
Derivative liabilities | 50 | (5,447) |
Cash collateral held by counterparty and netting adjustments | 50 | (5,447) |
Total liabilities | 50 | (5,447) |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | U.S. Treasury securities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 238,565 | 155,602 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative assets | 5,806 | 5,021 |
Total assets | 1,055,421 | 1,176,861 |
Derivative liabilities | 3,647 | 5,553 |
Total liabilities | 3,647 | 5,553 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Assets [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative assets | 5,806 | 5,021 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Liabilities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative liabilities | 3,647 | 5,553 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Government Sponsored Entities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 111,393 | 123,407 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Government-Sponsored Residential Mortgage-Backed Securities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 558,472 | 664,887 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Private Label Residential Mortgage-Backed Securities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 179,457 | 171,688 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 55,043 | 53,777 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Small Business Administration Loan Pools [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | 14,311 | 16,475 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | State and Political Subdivisions [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available-for-sale securities | $ 130,939 | $ 141,606 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair value, level transfers, Amount | $ 0 | $ 0 |
Assets Measured at Fair Value on a Non-recurring Basis [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Liabilities measured at fair value on a non-recurring basis | $ 0 | $ 0 |
Fair Value - Summary of Assets
Fair Value - Summary of Assets Measured at Fair Value on Non-recurring Basis (Detail) - Assets Measured at Fair Value on a Non-recurring Basis [Member] - Level 3 [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Individually Evaluated Loans [Member] | Commercial Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 1,848 | $ 5,201 |
Individually Evaluated Loans [Member] | Commercial and Industrial [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 1,020 | 2,793 |
Individually Evaluated Loans [Member] | Residential Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 2,185 | 3,758 |
Individually Evaluated Loans [Member] | Agricultural Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 2,002 | 2,101 |
Individually Evaluated Loans [Member] | Other [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 2,319 | 4,068 |
Other Real Estate Owned | Commercial Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 2,175 | 2,043 |
Other Real Estate Owned | Residential Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 48 | $ 191 |
Fair Value - Summary of Additio
Fair Value - Summary of Additional Information about Unobservable Inputs Used in Fair Value Measurement (Detail) - Fair Value, Measurements, Nonrecurring [Member] - Level 3 [Member] $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Individually Evaluated Real Estate Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 9,374 | $ 17,921 |
Alternative Investment Valuation Technique Extensible List | eqbk:SalesComparisonOnApproachMember | eqbk:SalesComparisonOnApproachMember |
Individually Evaluated Real Estate Loans [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.05 | 0.05 |
Individually Evaluated Real Estate Loans [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.52 | 0.31 |
Individually Evaluated Real Estate Loans [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.28 | 0.18 |
Individually Evaluated Other Real Estate Owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 2,223 | $ 2,234 |
Alternative Investment Valuation Technique Extensible List | eqbk:SalesComparisonOnApproachMember | eqbk:SalesComparisonOnApproachMember |
Individually Evaluated Other Real Estate Owned [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.03 | 0.03 |
Individually Evaluated Other Real Estate Owned [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.20 | 0.20 |
Individually Evaluated Other Real Estate Owned [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.12 | 0.12 |
Fair Value - Carrying Amount an
Fair Value - Carrying Amount and Estimated Fair Values of Financial Instrument (Detail) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 103,584,000 | $ 259,954,000 |
Available-for-sale securities | 1,288,180,000 | 1,327,442,000 |
Loans held for sale | 1,714,000 | 4,214,000 |
Loans, net of allowance for credit losses | 3,175,208,000 | 3,107,262,000 |
Federal Reserve Bank and Federal Home Loan Bank stock | 21,479,000 | 17,510,000 |
Interest receivable | 16,519,000 | 18,048,000 |
Derivative assets | 5,806,000 | 5,021,000 |
Total assets | 5,002,156,000 | 5,137,631,000 |
Deposits | 4,291,771,000 | 4,420,004,000 |
Federal funds purchased and retail repurchase agreements | 52,750,000 | 56,006,000 |
Federal Home Loan Bank advances | 80,000,000 | 0 |
Subordinated debt | 96,135,000 | 95,885,000 |
Contractual obligations | 15,813,000 | 17,692,000 |
Derivative Liabilities | 3,647,000 | 5,553,000 |
Cash collateral held by counterparty and netting adjustments | (2,112,000) | 2,994,000 |
Total liabilities | 4,574,041,000 | 4,637,000,000 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 103,584,000 | 259,954,000 |
Available-for-sale securities | 1,288,180,000 | 1,327,442,000 |
Loans held for sale | 1,714,000 | 4,214,000 |
Loans, net of allowance for credit losses | 3,175,208,000 | 3,107,262,000 |
Federal Reserve Bank and Federal Home Loan Bank stock | 21,479,000 | 17,510,000 |
Interest receivable | 16,519,000 | 18,048,000 |
Derivative assets | 5,806,000 | 5,021,000 |
Cash collateral held by derivative counterparty and netting adjustments | (2,112,000) | 2,994,000 |
Total derivative assets | 3,694,000 | 8,015,000 |
Equity securities with readily determinable fair value | 573,000 | 644,000 |
Total assets | 4,610,951,000 | 4,743,089,000 |
Deposits | 4,291,771,000 | 4,420,004,000 |
Federal funds purchased and retail repurchase agreements | 52,750,000 | 56,006,000 |
Federal Home Loan Bank advances | 80,000,000 | |
Subordinated debt | 23,088,000 | 22,924,000 |
Subordinated notes | 73,047,000 | 72,961,000 |
Contractual obligations | 15,813,000 | 17,692,000 |
Interest payable | 492,000 | 3,187,000 |
Derivative Liabilities | 3,647,000 | 5,553,000 |
Cash collateral held by counterparty and netting adjustments | 50,000 | (5,447,000) |
Total derivative liabilities | 3,697,000 | 106,000 |
Total liabilities | 4,540,658,000 | 4,592,880,000 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 103,584,000 | 259,954,000 |
Available-for-sale securities | 1,288,180,000 | 1,327,442,000 |
Loans held for sale | 1,714,000 | 4,214,000 |
Loans, net of allowance for credit losses | 3,134,957,000 | 3,100,232,000 |
Federal Reserve Bank and Federal Home Loan Bank stock | 21,479,000 | 17,510,000 |
Interest receivable | 16,519,000 | 18,048,000 |
Derivative assets | 5,806,000 | 5,021,000 |
Cash collateral held by derivative counterparty and netting adjustments | (2,112,000) | 2,994,000 |
Total derivative assets | 3,694,000 | 8,015,000 |
Equity securities with readily determinable fair value | 573,000 | 644,000 |
Deposits | 4,284,337,000 | 4,421,441,000 |
Federal funds purchased and retail repurchase agreements | 52,750,000 | 56,006,000 |
Federal Home Loan Bank advances | 80,000,000 | |
Subordinated debt | 23,088,000 | 22,924,000 |
Subordinated notes | 74,360,000 | 80,880,000 |
Contractual obligations | 15,813,000 | 17,692,000 |
Interest payable | 492,000 | 3,187,000 |
Derivative Liabilities | 3,647,000 | 5,553,000 |
Cash collateral held by counterparty and netting adjustments | 50,000 | (5,447,000) |
Total derivative liabilities | 3,697,000 | 106,000 |
Total liabilities | 4,534,537,000 | 4,602,236,000 |
Estimated Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 103,584,000 | 259,954,000 |
Available-for-sale securities | 238,565,000 | 155,601,000 |
Cash collateral held by derivative counterparty and netting adjustments | (2,112,000) | 2,994,000 |
Total derivative assets | (2,112,000) | 2,994,000 |
Equity securities with readily determinable fair value | 573,000 | 644,000 |
Cash collateral held by counterparty and netting adjustments | 50,000 | (5,447,000) |
Total derivative liabilities | 50,000 | (5,447,000) |
Estimated Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities | 1,049,615,000 | 1,171,841,000 |
Loans held for sale | 1,714,000 | 4,214,000 |
Federal Reserve Bank and Federal Home Loan Bank stock | 21,479,000 | 17,510,000 |
Interest receivable | 16,519,000 | 18,048,000 |
Derivative assets | 5,806,000 | 5,021,000 |
Total derivative assets | 5,806,000 | 5,021,000 |
Deposits | 4,284,337,000 | 4,421,441,000 |
Federal funds purchased and retail repurchase agreements | 52,750,000 | 56,006,000 |
Federal Home Loan Bank advances | 80,000,000 | |
Subordinated debt | 23,088,000 | 22,924,000 |
Subordinated notes | 74,360,000 | 80,880,000 |
Contractual obligations | 15,813,000 | 17,692,000 |
Interest payable | 492,000 | 3,187,000 |
Derivative Liabilities | 3,647,000 | 5,553,000 |
Total derivative liabilities | 3,647,000 | 5,553,000 |
Total liabilities | 4,534,487,000 | 4,607,683,000 |
Estimated Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net of allowance for credit losses | 3,134,957,000 | 3,100,232,000 |
Fair Value, Measurements, Nonrecurring [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 4,570,700,000 | 4,736,059,000 |
Fair Value, Measurements, Nonrecurring [Member] | Estimated Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 340,610,000 | 419,193,000 |
Fair Value, Measurements, Nonrecurring [Member] | Estimated Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 1,095,133,000 | 1,216,634,000 |
Fair Value, Measurements, Nonrecurring [Member] | Estimated Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | $ 3,134,957,000 | $ 3,100,232,000 |
Commitments and Credit Risk - S
Commitments and Credit Risk - Summary of Contractual Amounts of Commitments and Standby Letters of Credit to Originate Loans and Available Lines of Credit (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Standby Letters of Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | $ 14,138 | $ 14,656 |
Loans commitments, Variable Rate | 9,617 | 5,799 |
Commitments to Make Loans [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | 89,350 | 101,923 |
Loans commitments, Variable Rate | 168,286 | 173,976 |
Mortgage Loans in the Process of Origination [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | 3,793 | 7,404 |
Loans commitments, Variable Rate | 5,343 | 2,353 |
Unused Lines of Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | 114,878 | 106,291 |
Loans commitments, Variable Rate | $ 344,260 | $ 317,249 |
Commitments and Credit Risk - A
Commitments and Credit Risk - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2022 | |
Minimum [Member] | |
Commitments And Contingencies [Line Items] | |
Fixed interest rate loan commitments | 3.25% |
Fixed interest rate loan commitments maturity period | 1 month |
Maximum [Member] | |
Commitments And Contingencies [Line Items] | |
Fixed interest rate loan commitments | 18% |
Fixed interest rate loan commitments maturity period | 364 months |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Company's Source of Non-interest Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Non-interest income | ||||
Increase in bank-owned life insurance | $ 736 | $ 676 | $ 1,601 | $ 1,277 |
Net gain on acquisition and branch sales | 540 | 663 | 540 | 585 |
Net gain (loss) from securities transactions | (32) | 8 | 17 | |
Other non-interest income | ||||
Total non-interest income | 9,637 | 9,100 | 18,659 | 15,812 |
Service Charges and Fees [Member] | ||||
Non-interest income | ||||
Non-interest income | 2,617 | 2,169 | 5,139 | 3,765 |
Other non-interest income | ||||
Non-interest income | 2,617 | 2,169 | 5,139 | 3,765 |
Debit Card Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 2,810 | 2,679 | 5,438 | 5,029 |
Other non-interest income | ||||
Non-interest income | 2,810 | 2,679 | 5,438 | 5,029 |
Mortgage Banking [Member] | ||||
Non-interest income | ||||
Non-interest income | 428 | 848 | 990 | 1,783 |
Other non-interest income | ||||
Non-interest income | 428 | 848 | 990 | 1,783 |
Accounting Standards Update 2014-09 [Member] | ||||
Non-interest income | ||||
Increase in bank-owned life insurance | 736 | 676 | 1,601 | 1,277 |
Net gain on acquisition and branch sales | 540 | 663 | 540 | 585 |
Net gain (loss) from securities transactions | (32) | 8 | 17 | |
Other non-interest income | ||||
Recovery on zero-basis purchased loans | 13 | 19 | 33 | 53 |
Income (loss) from equity method investments | (56) | (56) | (111) | (111) |
Other non-interest income not related to loans and deposits | 17 | 45 | 24 | 47 |
Total other non-interest income | 2,538 | 2,065 | 4,943 | 3,356 |
Total non-interest income | 9,637 | 9,100 | 18,659 | 15,812 |
Accounting Standards Update 2014-09 [Member] | Service Charges and Fees [Member] | ||||
Non-interest income | ||||
Non-interest income | 2,617 | 2,169 | 5,139 | 3,765 |
Other non-interest income | ||||
Non-interest income | 2,617 | 2,169 | 5,139 | 3,765 |
Accounting Standards Update 2014-09 [Member] | Debit Card Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 2,810 | 2,679 | 5,438 | 5,029 |
Other non-interest income | ||||
Non-interest income | 2,810 | 2,679 | 5,438 | 5,029 |
Accounting Standards Update 2014-09 [Member] | Mortgage Banking [Member] | ||||
Non-interest income | ||||
Non-interest income | 428 | 848 | 990 | 1,783 |
Accounting Standards Update 2014-09 [Member] | Investment Referral Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 140 | 194 | 283 | 317 |
Other non-interest income | ||||
Non-interest income | 140 | 194 | 283 | 317 |
Accounting Standards Update 2014-09 [Member] | Trust Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 264 | 336 | 557 | 496 |
Other non-interest income | ||||
Non-interest income | 264 | 336 | 557 | 496 |
Accounting Standards Update 2014-09 [Member] | Insurance Sales Commissions [Member] | ||||
Non-interest income | ||||
Non-interest income | 47 | 46 | 113 | 106 |
Other non-interest income | ||||
Non-interest income | 47 | 46 | 113 | 106 |
Accounting Standards Update 2014-09 [Member] | Other Non Interest Income Related To Loans and Deposits [Member] | ||||
Non-interest income | ||||
Non-interest income | 2,113 | 1,481 | 4,044 | 2,448 |
Other non-interest income | ||||
Non-interest income | $ 2,113 | $ 1,481 | $ 4,044 | $ 2,448 |
Business Combinations and Bra_3
Business Combinations and Branch Sales - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) Branch | Jun. 24, 2022 USD ($) | Mar. 31, 2022 USD ($) | Oct. 01, 2021 | |
American State Bank Trust Company [Member] | |||||
Business Acquisition [Line Items] | |||||
Ownership percentage | 100% | ||||
Acquisition-related costs | $ 87 | $ 274 | |||
Acquisition-related costs after tax | 65 | 206 | |||
Security Bank Of Kansas City [Member] | Missouri [Member] | |||||
Business Acquisition [Line Items] | |||||
Acquisition-related costs | 1 | 137 | |||
Acquisition-related costs after tax | $ 0 | $ 102 | |||
Number of bank locations | Branch | 3 | ||||
United Bank & Trust [Member] | |||||
Business Acquisition [Line Items] | |||||
Purchase and assumption agreement, Timing | This transaction was completed on June 24, 2022. | ||||
Gain on branch sale | $ (540) | $ 540 |
Business Combinations and Bra_4
Business Combinations and Branch Sales - Summary of the Amounts of Assets Acquired and Liabilities Sold (Detail) - USD ($) $ in Thousands | Jun. 24, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Summary of assets sold and liabilities assumed by UBT: | ||||
Goodwill | $ 53,101 | $ 54,465 | ||
United Bank & Trust [Member] | ||||
Summary of assets sold and liabilities assumed by UBT: | ||||
Cash and due from banks | $ 508 | |||
Loans | 26,110 | |||
Premises and equipment | 1,225 | |||
Goodwill | 1,364 | |||
Core deposit intangible | 164 | |||
Other assets | 391 | |||
Total assets sold | 29,762 | |||
Deposits | 52,714 | |||
Interest payable and other liabilities | 19 | |||
Total liabilities assumed by UBT | 52,733 | |||
Total net assets | (22,971) | |||
Cash paid | 22,431 | |||
Gain on Branch Sale | $ (540) | $ 540 |
Business Combinations and Bra_5
Business Combinations and Branch Sales - Carrying Value of Loans Sold (Detail) - United Bank & Trust [Member] $ in Thousands | Jun. 24, 2022 USD ($) |
Business Acquisition [Line Items] | |
Fair value of acquired loans | $ 26,110 |
Commercial Real Estate [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 793 |
Commercial and Industrial [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 537 |
Residential Real Estate [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 521 |
Agricultural Real Estate [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 23,685 |
Consumer [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | $ 574 |
Business Combinations and Bra_6
Business Combinations and Branch Sales - Carrying Value of Deposits Sold (Detail) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 24, 2022 | Dec. 31, 2021 |
Business Acquisition [Line Items] | |||
Demand | $ 1,194,863 | $ 1,244,117 | |
Total non-interest-bearing deposits | 1,194,863 | 1,244,117 | |
Time | 651,363 | 653,598 | |
Total interest-bearing deposits | 3,096,908 | 3,175,887 | |
Total deposits | $ 4,291,771 | $ 4,420,004 | |
United Bank & Trust [Member] | |||
Business Acquisition [Line Items] | |||
Demand | $ 15,817 | ||
Total non-interest-bearing deposits | 15,817 | ||
Demand, savings and money markets | 28,615 | ||
Time | 8,282 | ||
Total interest-bearing deposits | 36,897 | ||
Total deposits | $ 52,714 |