Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Jul. 25, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001430723 | |
Entity Registrant Name | ServisFirst Bancshares, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-36452 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 26-0734029 | |
Entity Address, Address Line One | 2500 Woodcrest Place | |
Entity Address, City or Town | Birmingham | |
Entity Address, State or Province | AL | |
Entity Address, Postal Zip Code | 35209 | |
City Area Code | 205 | |
Local Phone Number | 949-0302 | |
Title of 12(b) Security | Common stock, par value $.001 per share | |
Trading Symbol | SFBS | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 54,308,895 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | [1] |
ASSETS | |||
Cash and due from banks | $ 252,638 | $ 56,934 | |
Interest-bearing balances due from depository institutions | 1,334,511 | 4,106,790 | |
Federal funds sold | 101,447 | 58,372 | |
Cash and cash equivalents | 1,688,596 | 4,222,096 | |
Available for sale debt securities, at fair value | 724,463 | 842,570 | |
Held to maturity debt securities (fair value of $1,003,840 at June 30, 2022 and $466,286 at December 31, 2021) | 1,065,755 | 462,957 | |
Restricted equity securities | 7,734 | 7,311 | |
Mortgage loans held for sale | 3,451 | 1,114 | |
Loans | 10,617,320 | 9,532,934 | |
Less allowance for credit losses | (128,387) | (116,660) | |
Loans, net | 10,488,933 | 9,416,274 | |
Premises and equipment, net | 59,482 | 60,300 | |
Accrued interest and dividends receivable | 36,557 | 34,831 | |
Deferred tax asset, net | 48,874 | 37,772 | |
Other real estate owned and repossessed assets | 1,207 | 1,208 | |
Bank owned life insurance contracts | 286,315 | 283,074 | |
Goodwill and other identifiable intangible assets | 13,615 | 13,638 | |
Other assets | 69,335 | 65,661 | |
Total assets | 14,494,317 | 15,448,806 | |
Liabilities: | |||
Non-interest-bearing demand | 4,686,511 | 4,799,767 | |
Interest-bearing | 7,085,826 | 7,653,069 | |
Total deposits | 11,772,337 | 12,452,836 | |
Federal funds purchased | 1,389,167 | 1,711,777 | |
Other borrowings | 64,716 | 64,706 | |
Accrued interest and dividends payable | 13,515 | 13,619 | |
Other liabilities | 42,664 | 53,853 | |
Total liabilities | 13,282,399 | 14,296,791 | |
Stockholders' equity: | |||
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at June 30, 2022 and December 31, 2021 | 0 | 0 | |
Common stock, par value $0.001 per share; 200,000,000 shares authorized, 54,306,875 shares issued and outstanding at June 30, 2022; and 100,000,000 shares authorized, 54,227,060 shares issued and outstanding at December 31, 2021 | 54 | 54 | |
Additional paid-in capital | 227,906 | 226,397 | |
Retained earnings | 1,005,815 | 911,008 | |
Accumulated other comprehensive (loss) income | (22,357) | 14,056 | |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 1,211,418 | 1,151,515 | |
Noncontrolling interest | 500 | 500 | |
Total stockholders' equity | 1,211,918 | 1,152,015 | |
Total liabilities and stockholders' equity | $ 14,494,317 | $ 15,448,806 | |
[1]derived from audited financial statements. |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | [1] |
Held to maturity debt securities, fair value | $ 1,003,840 | $ 466,286 | |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 | |
Preferred stock, undesignated (in shares) | 1,000,000 | 1,000,000 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Common stock, shares authorized (in shares) | 200,000,000 | 100,000,000 | |
Common stock, shares issued (in shares) | 54,306,875 | 54,227,060 | |
Common stock, shares outstanding (in shares) | 54,306,875 | 54,227,060 | |
[1]derived from audited financial statements. |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest income: | ||||
Interest and fees on loans | $ 111,287 | $ 95,451 | $ 214,392 | $ 189,254 |
Taxable securities | 10,515 | 6,315 | 18,738 | 12,122 |
Nontaxable securities | 37 | 86 | 80 | 193 |
Federal funds sold | 93 | 4 | 106 | 7 |
Other interest and dividends | 4,623 | 863 | 6,427 | 1,539 |
Total interest income | 126,555 | 102,719 | 239,743 | 203,115 |
Interest expense: | ||||
Deposits | 6,427 | 6,836 | 12,270 | 13,717 |
Borrowed funds | 3,760 | 1,215 | 5,383 | 2,365 |
Total interest expense | 10,187 | 8,051 | 17,653 | 16,082 |
Net interest income | 116,368 | 94,668 | 222,090 | 187,033 |
Provision for credit losses | 9,507 | 9,652 | 14,869 | 17,103 |
Net interest income after provision for credit losses | 106,861 | 85,016 | 207,221 | 169,930 |
Noninterest income | ||||
Securities (losses) gains | (2,833) | 620 | (6,168) | 620 |
Increase in cash surrender value life insurance | 1,633 | 1,683 | 3,241 | 3,341 |
Other operating income | 5,287 | 777 | 9,922 | 1,735 |
Total noninterest income | 9,506 | 9,598 | 17,454 | 18,061 |
Noninterest expenses: | ||||
Salaries and employee benefits | 20,734 | 16,887 | 39,035 | 32,430 |
Equipment and occupancy expense | 2,983 | 2,844 | 5,916 | 5,498 |
Third party processing and other services | 6,345 | 3,946 | 11,950 | 7,362 |
Professional services | 1,327 | 1,107 | 2,319 | 2,030 |
FDIC and other regulatory assessments | 1,147 | 1,425 | 2,279 | 3,007 |
OREO expense | 32 | 540 | 35 | 697 |
Other operating expenses | 7,253 | 4,560 | 15,505 | 9,199 |
Total noninterest expenses | 39,821 | 31,309 | 77,039 | 60,223 |
Income before income taxes | 76,546 | 63,305 | 147,636 | 127,768 |
Provision for income taxes | 14,410 | 13,278 | 27,887 | 26,286 |
Net income | 62,136 | 50,027 | 119,749 | 101,482 |
Preferred stock dividends | 31 | 31 | 31 | 31 |
Net income available to common stockholders | $ 62,105 | $ 49,996 | $ 119,718 | $ 101,451 |
Basic earnings per common share (in dollars per share) | $ 1.14 | $ 0.92 | $ 2.21 | $ 1.87 |
Diluted earnings per common share (in dollars per share) | $ 1.14 | $ 0.92 | $ 2.20 | $ 1.86 |
Deposit Account [Member] | ||||
Noninterest income | ||||
Noninterest income | $ 2,133 | $ 1,907 | $ 4,275 | $ 3,815 |
Mortgage Banking [Member] | ||||
Noninterest income | ||||
Noninterest income | 614 | 2,699 | 1,140 | 5,446 |
Credit Card [Member] | ||||
Noninterest income | ||||
Noninterest income | $ 2,672 | $ 1,912 | $ 5,044 | $ 3,104 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income | $ 62,136 | $ 50,027 | $ 119,749 | $ 101,482 |
Other comprehensive (loss) income, net of tax: | ||||
Unrealized net holding (losses) gains arising during period from securities available for sale, net of tax of $(5,557) and $(12,572) for the three and six months ended June 30, 2022, respectively, and net of tax of $877 and $(40) for the three and six months ended June 30, 2021, respectively | (13,344) | 3,291 | (40,340) | (173) |
Amortization of net unrealized gains on securities transferred from available-for-sale to held-to-maturity, net of tax of $100 and $250 for three and six months ended June 30, 2022, respectively | (377) | 0 | (946) | 0 |
Net losses on sales of securities, net of tax of $595 and $1,295 for three and six months ended June 30, 2022, and net (gain) on call of securities, net of tax of $(130) for three and six months ended June 30, 2021 reclassified from other comprehensive income into net income | 2,238 | (490) | 4,873 | (490) |
Other comprehensive (loss) income, net of tax | (11,482) | 2,801 | (36,413) | (663) |
Comprehensive income | $ 50,654 | $ 52,828 | $ 83,336 | $ 100,819 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Unrealized holding gain (loss) from available for sale securities, tax | $ (5,557) | $ 877 | $ (12,572) | $ (40) |
Amortization of net unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity, tax | 100 | 250 | ||
Reclassification adjustment for net (gains) losses on sale of securities available-for-sale, tax | $ 595 | $ (130) | $ 1,295 | $ (130) |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total | |
Balance (in shares) at Dec. 31, 2020 | 53,943,751 | |||||||
Balance at Dec. 31, 2020 | $ 54 | $ 0 | $ 223,856 | $ 748,224 | $ 20,218 | $ 500 | $ 992,852 | |
Common dividends declared | 0 | 0 | 0 | (10,849) | 0 | 0 | (10,849) | |
Preferred dividends paid | 0 | 0 | 0 | (31) | 0 | 0 | (31) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 51 | 0 | 0 | 51 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 57,224 | |||||||
Issue restricted shares pursuant to stock incentives, net of forfeitures | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Issue shares of common stock upon exercise of stock options (in shares) | 200,229 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 3,060 | 0 | 0 | 0 | 3,060 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (2,638) | 0 | 0 | 0 | (2,638) | |
Stock-based compensation expense | 0 | 0 | 849 | 0 | 0 | 0 | 849 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (663) | 0 | (663) | |
Net income | 0 | 0 | 0 | 101,482 | 0 | 101,482 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 101,482 | |||||||
Common dividends paid | $ 0 | 0 | 0 | (10,829) | 0 | 0 | (10,829) | |
Balance (in shares) at Jun. 30, 2021 | 54,201,204 | |||||||
Balance at Jun. 30, 2021 | $ 54 | 0 | 225,127 | 828,048 | 19,555 | 500 | 1,073,284 | |
Balance (in shares) at Mar. 31, 2021 | 54,137,650 | |||||||
Balance at Mar. 31, 2021 | $ 54 | 0 | 224,302 | 788,875 | 16,754 | 500 | 1,030,485 | |
Common dividends declared | 0 | 0 | 0 | (10,849) | 0 | 0 | (10,849) | |
Preferred dividends paid | 0 | 0 | 0 | (31) | 0 | 0 | (31) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 26 | 0 | 0 | 26 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 14,582 | |||||||
Issue restricted shares pursuant to stock incentives, net of forfeitures | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Issue shares of common stock upon exercise of stock options (in shares) | 48,972 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 1,195 | 0 | 0 | 0 | 1,195 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (928) | 0 | 0 | 0 | (928) | |
Stock-based compensation expense | 0 | 0 | 558 | 0 | 0 | 0 | 558 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | 2,801 | 0 | 2,801 | |
Net income | $ 0 | 0 | 0 | 50,027 | 0 | 50,027 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 50,027 | |||||||
Balance (in shares) at Jun. 30, 2021 | 54,201,204 | |||||||
Balance at Jun. 30, 2021 | $ 54 | 0 | 225,127 | 828,048 | 19,555 | 500 | 1,073,284 | |
Balance (in shares) at Dec. 31, 2021 | 54,227,060 | |||||||
Balance at Dec. 31, 2021 | $ 54 | 0 | 226,397 | 911,008 | 14,056 | 500 | 1,152,015 | [1] |
Common dividends declared | 0 | 0 | 0 | (12,491) | 0 | 0 | (12,491) | |
Preferred dividends paid | 0 | 0 | 0 | (31) | 0 | 0 | (31) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 65 | 0 | 0 | 65 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 42,768 | |||||||
Issue restricted shares pursuant to stock incentives, net of forfeitures | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Issue shares of common stock upon exercise of stock options (in shares) | 37,047 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 862 | 0 | 0 | 0 | 862 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (940) | 0 | 0 | 0 | (940) | |
Stock-based compensation expense | 0 | 0 | 1,587 | 0 | 0 | 0 | 1,587 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (36,413) | 0 | (36,413) | |
Net income | 0 | 0 | 0 | 119,749 | 0 | 119,749 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 119,749 | |||||||
Common dividends paid | $ 0 | 0 | 0 | (12,485) | 0 | 0 | (12,485) | |
Balance (in shares) at Jun. 30, 2022 | 54,306,875 | |||||||
Balance at Jun. 30, 2022 | $ 54 | 0 | 227,906 | 1,005,815 | (22,357) | 500 | 1,211,918 | |
Balance (in shares) at Mar. 31, 2022 | 54,282,132 | |||||||
Balance at Mar. 31, 2022 | $ 54 | 0 | 227,127 | 956,169 | (10,875) | 500 | 1,172,975 | |
Common dividends declared | 0 | 0 | 0 | (12,491) | 0 | 0 | (12,491) | |
Preferred dividends paid | 0 | 0 | 0 | (31) | 0 | 0 | (31) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 32 | 0 | 0 | 32 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 15,794 | |||||||
Issue restricted shares pursuant to stock incentives, net of forfeitures | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Issue shares of common stock upon exercise of stock options (in shares) | 8,949 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 308 | 0 | 0 | 0 | 308 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (326) | 0 | 0 | 0 | (326) | |
Stock-based compensation expense | 0 | 0 | 797 | 0 | 0 | 0 | 797 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (11,482) | 0 | (11,482) | |
Net income | $ 0 | 0 | 0 | 62,136 | 0 | 62,136 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 62,136 | |||||||
Balance (in shares) at Jun. 30, 2022 | 54,306,875 | |||||||
Balance at Jun. 30, 2022 | $ 54 | $ 0 | $ 227,906 | $ 1,005,815 | $ (22,357) | $ 500 | $ 1,211,918 | |
[1]derived from audited financial statements. |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Common dividends, per share declared (in dollars per share) | $ 0.23 | $ 0.20 | $ 0.23 | $ 0.20 |
Shares withheld in net settlement upon exercise of stock options (in shares) | 2,551 | 13,528 | 10,953 | 49,771 |
Common dividends, per share (in dollars per share) | $ 0.23 | $ 0.20 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
OPERATING ACTIVITIES | ||
Net income | $ 119,749 | $ 101,482 |
Adjustments to reconcile net income to net cash provided by | ||
Deferred tax | 424 | 12 |
Provision for credit losses | 14,869 | 17,103 |
Depreciation | 2,098 | 2,030 |
Accretion on acquired loans | 70 | 69 |
Amortization of core deposit intangible | 23 | 135 |
Amortization of investments in tax credit partnerships | 5,857 | 243 |
Net amortization of debt securities available for sale | 2,062 | 2,635 |
(Increase) decrease in accrued interest and dividends receivable | (1,726) | 3,711 |
Stock-based compensation expense | 1,587 | 849 |
Decrease in accrued interest payable | (104) | (232) |
Proceeds from sale of mortgage loans held for sale | 17,835 | 171,592 |
Originations of mortgage loans held for sale | (19,032) | (157,868) |
Loss (gain) on sale of securities available for sale | 6,168 | (620) |
Gain on sale of mortgage loans held for sale | (1,140) | (5,446) |
Net (gain) loss on sale of other real estate owned and repossessed assets | (239) | 282 |
Write down of other real estate owned and repossessed assets | 6 | 761 |
Operating losses of tax credit partnerships | 0 | 4 |
Increase in cash surrender value of life insurance contracts | (3,241) | (3,341) |
Net change in other assets, liabilities, and other operating activities | (19,267) | (3,948) |
Net cash provided by operating activities | 125,999 | 129,453 |
INVESTMENT ACTIVITIES | ||
Purchases of debt securities available for sale | (76,360) | (263,647) |
Proceeds from maturities, calls and paydowns of debt securities available for sale | 64,459 | 133,954 |
Proceeds from sale of debt securities available for sale | 75,036 | 0 |
Purchases of debt securities held to maturity | (648,266) | 0 |
Proceeds from maturities, calls and paydowns of debt securities held to maturity | 44,271 | 0 |
Purchases of restricted equity securities | (423) | 0 |
Investment in tax credit partnership and SBIC | (1,646) | (56) |
Return of capital from TC Partnerships and SBIC | 249 | 0 |
Increase in loans | (1,088,455) | (185,506) |
Purchases of premises and equipment | (1,280) | (14,799) |
Proceeds from sale of other real estate owned and repossessed assets | 1,091 | 761 |
Net cash used in investing activities | (1,631,324) | (329,293) |
FINANCING ACTIVITIES | ||
Net (decrease) increase in non-interest-bearing deposits | (113,256) | 507,657 |
Net (decrease) increase in interest-bearing deposits | (567,243) | 474,855 |
Net (decrease) increase in federal funds purchased | (322,610) | 207,929 |
Proceeds from exercise of stock options | 862 | 3,060 |
Taxes paid in net settlement of tax obligation upon exercise of stock options | (940) | (2,638) |
Dividends paid on common stock | (24,957) | (21,627) |
Dividends paid on preferred stock | (31) | (31) |
Net cash (used in) provided by financing activities | (1,028,175) | 1,169,205 |
Net (decrease) increase in cash and cash equivalents | (2,533,500) | 969,365 |
Cash and cash equivalents at beginning of period | 4,222,096 | 2,211,411 |
Cash and cash equivalents at end of period | 1,688,596 | 3,180,776 |
Cash paid/(received) for: | ||
Interest | 10,291 | 16,314 |
Income taxes | 3,241 | 5,428 |
Income tax refund | (142) | (3) |
Cash and cash equivalents at end of period | ||
Other real estate acquired in settlement of loans | 857 | 364 |
Internally financed sale of other real estate owned | 0 | 3,779 |
Dividends on nonvested restricted stock reclassified as compensation expense | 65 | 25 |
Dividends declared | $ 12,491 | $ 10,849 |
Note 1 - General
Note 1 - General | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 The accompanying unaudited consolidated financial statements in this report have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, including Regulation S- X 10 not not not may 10 December 31, 2021. All reported amounts are in thousands except share and per share data. |
Note 2 - Cash and Cash Equivale
Note 2 - Cash and Cash Equivalents | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 2 Cash on hand, cash items in process of collection, amounts due from banks, and federal funds sold are included in cash and cash equivalents. |
Note 3 - Earnings Per Common Sh
Note 3 - Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3 Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options. The difference in earnings per share under the two not three six June 30, 2022 2021, Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 54,295,789 54,173,034 54,279,574 54,112,190 Net income available to common stockholders $ 62,105 $ 49,996 $ 119,718 $ 101,451 Basic earnings per common share $ 1.14 $ 0.92 $ 2.21 $ 1.87 Weighted average common shares outstanding 54,295,789 54,173,034 54,279,574 54,112,190 Dilutive effects of assumed exercise of stock options and vesting of performance shares 236,596 287,196 247,668 309,137 Weighted average common and dilutive potential common shares outstanding 54,532,385 54,460,230 54,527,242 54,421,327 Net income available to common stockholders $ 62,105 $ 49,996 $ 119,718 $ 101,451 Diluted earnings per common share $ 1.14 $ 0.92 $ 2.20 $ 1.86 |
Note 4 - Securities
Note 4 - Securities | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4 The amortized cost and fair value of available-for-sale and held-to-maturity securities at June 30, 2022 December 31, 2021 Gross Gross Amortized Unrealized Unrealized Fair Cost Gain Loss Value June 30, 2022 (In Thousands) Debt Securities Available for Sale U.S. Treasury Securities $ 6,004 $ - $ (38 ) $ 5,966 Government Agency Securities 14 - - 14 Mortgage-backed securities 308,033 43 (22,648 ) 285,428 State and municipal securities 17,446 5 (1,171 ) 16,280 Corporate debt 427,688 618 (11,531 ) 416,775 Total $ 759,185 $ 666 $ (35,388 ) $ 724,463 Debt Securities Held to Maturity U.S. Treasury Securities $ 506,246 $ - $ (22,750 ) $ 483,496 Mortgage-backed securities 551,480 56 (38,538 ) 512,998 State and municipal securities 8,030 - (683 ) 7,347 Total $ 1,065,755 $ 56 $ (61,971 ) $ 1,003,840 December 31, 2021 Debt Securities Available for Sale U.S Treasury Securities $ 9,003 $ 101 $ - $ 9,104 Government Agency Securities 6,022 19 - 6,041 Mortgage-backed securities 424,372 3,474 (2,685 ) 425,161 State and municipal securities 21,531 173 (70 ) 21,634 Corporate debt 369,618 11,659 (647 ) 380,630 Total $ 830,546 $ 15,425 $ (3,402 ) $ 842,570 Debt Securities Held to Maturity U.S. Treasury Securities $ 149,263 $ 25 $ (668 ) $ 148,620 Mortgage-backed securities 310,641 5,251 (1,271 ) 314,621 State and municipal securities 3,053 2 (10 ) 3,045 Total $ 462,957 $ 5,278 $ (1,949 ) $ 466,286 The amortized cost and fair value of debt securities as of June 30, 2022 December 31, 2021 may may not June 30, 2022 December 31, 2021 Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Debt securities available for sale Due within one year $ 24,683 $ 24,590 $ 32,913 $ 33,232 Due from one to five years 62,123 61,391 31,760 32,307 Due from five to ten years 361,346 350,109 338,407 348,594 Due after ten years 3,000 2,945 3,094 3,276 Mortgage-backed securities 308,033 285,428 424,372 425,161 $ 759,185 $ 724,463 $ 830,546 $ 842,570 Debt securities held to maturity Due within one year $ 250 $ 250 $ 250 $ 250 Due from one to five years 385,593 373,926 49,663 49,419 Due from five to ten years 128,432 116,667 102,403 101,996 Mortgage-backed securities 551,480 512,998 310,641 314,621 $ 1,065,755 $ 1,003,840 $ 462,957 $ 466,286 All mortgage-backed securities are with government-sponsored enterprises (GSEs) such as Federal National Mortgage Association, Government National Mortgage Association, Federal Home Loan Bank, and Federal Home Loan Mortgage Corporation. The carrying value of debt securities pledged to secure public funds on deposit and for other purposes as required by law as of June 30, 2022 December 31, 2021 The following table identifies, as of June 30, 2022 December 31, 2021, 12 12 Less Than Twelve Months Twelve Months or More Total Gross Gross Gross Unrealized Unrealized Unrealized Losses Fair Value Losses Fair Value Losses Fair Value June 30, 2022 (In Thousands) Debt Securities available for sale U.S. Treasury Securities $ (38 ) $ 5,966 $ - $ - $ (38 ) $ 5,966 Mortgage-backed securities (20,147 ) 261,595 (2,501 ) 22,005 (22,648 ) 283,600 State and municipal securities (1,112 ) 11,613 (59 ) 410 (1,171 ) 12,023 Corporate debt (11,366 ) 327,226 (165 ) 1,335 (11,531 ) 328,561 Total $ (32,664 ) $ 606,400 $ (2,724 ) $ 23,751 $ (35,388 ) $ 630,151 Debt Securities held to maturity U.S. Treasury Securities $ (22,750 ) $ 483,496 $ - $ - $ (22,750 ) $ 483,496 Mortgage-backed securities (34,900 ) 481,201 (3,639 ) 21,918 (38,538 ) 503,119 State and municipal securities (683 ) 7,097 - - (683 ) 7,097 Total $ (58,333 ) $ 971,794 $ (3,639 ) $ 21,918 $ (61,971 ) $ 993,712 December 31, 2021 Debt Securities available for sale Mortgage-backed securities $ (2,685 ) $ 303,297 $ - $ - $ (2,685 ) $ 303,297 State and municipal securities (61 ) 5,198 (9 ) 228 (70 ) 5,426 Corporate debt (647 ) 61,677 - - (647 ) 61,677 Total $ (3,393 ) $ 370,172 $ (9 ) $ 228 $ (3,402 ) $ 370,400 Debt Securities held to maturity U.S. Treasury Securities $ (668 ) $ 123,698 $ - $ - $ (668 ) $ 123,698 Mortgage-backed securities (1,271 ) 134,192 - - (1,271 ) 134,192 State and municipal securities (10 ) 482 - - (10 ) 482 Total $ (1,950 ) $ 258,372 $ - $ - $ (1,949 ) $ 258,372 The following table summarizes information about sales and calls of debt securities available for sale. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In Thousands) Sale and call proceeds $ 33,425 $ 6,272 $ 75,036 $ 6,272 Gross realized gains $ - $ 620 $ - $ 620 Gross realized losses (2,833 ) - (6,168 ) - Net realized gain (loss) $ (2,833 ) $ 620 $ (6,168 ) $ 620 At June 30, 2022, not not not not may zero one June 30, 2022, not Restricted equity securities are comprised entirely of a restricted investment in Federal Home Loan Bank of Atlanta stock for membership requirement. |
Note 5 - Loans
Note 5 - Loans | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 LOANS The loan portfolio is classified based on the underlying collateral utilized to secure each loan for financial reporting purposes. This classification is consistent with the Quarterly Report of Condition and Income filed by the Bank with the Federal Deposit Insurance Corporation (FDIC). Commercial, financial and agricultural - Real estate construction Owner-occupied commercial real estate mortgage 1 4 Other real estate mortgage Consumer not The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) provided for Paycheck Protection Program (“PPP”) loans made by banks to employers with less than 500 2021, March 21, 2021, May 28, 2021, April 2020. June 30, 2022 December 31, 2021, three June 30, 2022 2021, six June 30, 2022 2021, June 30, 2022 December 31, 2021, The following table details the Company’s loans at June 30, 2022 December 31, 2021: June 30, December 31, 2022 2021 (Dollars In Thousands) Commercial, financial and agricultural $ 2,966,040 $ 2,984,053 Real estate - construction 1,383,155 1,103,076 Real estate - mortgage: Owner-occupied commercial 2,026,807 1,874,103 1-4 family mortgage 1,015,698 826,765 Other mortgage 3,160,510 2,678,084 Subtotal: Real estate - mortgage 6,203,015 5,378,952 Consumer 65,110 66,853 Total Loans 10,617,320 9,532,934 Less: Allowance for credit losses (128,387 ) (116,660 ) Net Loans $ 10,488,933 $ 9,416,274 Commercial, financial and agricultural 27.94 % 31.30 % Real estate - construction 13.03 % 11.57 % Real estate - mortgage: Owner-occupied commercial 19.09 % 19.66 % 1-4 family mortgage 9.57 % 8.67 % Other mortgage 29.77 % 28.10 % Subtotal: Real estate - mortgage 58.42 % 56.42 % Consumer 0.61 % 0.70 % Total Loans 100.00 % 100.00 % The credit quality of the loan portfolio is summarized no ● Pass – loans which are well protected by the current net worth and paying capacity of the borrower (or guarantors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral. ● Special Mention – loans with potential weakness that may, not not not ● Substandard – loans that exhibit well-defined weakness or weaknesses that currently jeopardize debt repayment. These loans are characterized by the distinct possibility that the company will sustain some loss if the weaknesses are not ● Doubtful – loans that have all the weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. The table below presents loan balances classified by credit quality indicator, loan type and based on year of origination as of June 30, 2022 : Revolving June 30, 2022 2022 2021 2020 2019 2018 Prior Loans Total (In thousands) Commercial, financial and agricultural Pass $ 295,183 $ 671,693 $ 257,345 $ 227,787 $ 164,947 $ 514,106 $ 748,747 $ 2,880,087 Special Mention 100 6,717 1,276 2,277 3,444 4,950 21,344 40,108 Substandard 1 - 408 11,071 343 3,610 30,691 45,845 Doubtful - - - - - - - - Total Commercial, financial and agricultural $ 295,284 $ 678,410 $ 259,029 $ 241,135 $ 168,734 $ 522,666 $ 800,782 $ 2,966,040 Real estate - construction Pass $ 237,946 $ 600,567 $ 226,083 $ 17,895 $ 8,644 $ 29,479 $ 257,920 $ 1,378,534 Special Mention 2,500 - - - - 894 - 3,394 Substandard - - - - 1,227 - - 1,227 Doubtful - - - - - - - - Total Real estate - construction $ 240,446 $ 600,567 $ 226,083 $ 17,895 $ 9,871 $ 30,373 $ 257,920 $ 1,383,155 Owner-occupied commercial Pass $ 174,174 $ 426,742 $ 257,264 $ 159,595 $ 148,669 $ 386,045 $ 455,962 $ 2,010,500 Special Mention 291 1,625 - 2,382 633 5,500 1,777 12,208 Substandard - - - - - 1,866 4,283 4,099 Doubtful - - - - - - - - Total Owner-occupied commercial $ 174,465 $ 428,367 $ 257,264 $ 161,977 $ 149,302 $ 393,411 $ 462,022 $ 2,026,807 1-4 family mortgage Pass $ 210,144 $ 246,092 $ 76,469 $ 40,022 $ 24,584 $ 76,334 $ 333,600 $ 1,007,245 Special Mention 101 1,503 839 161 - 585 2,695 5,884 Substandard - - - 233 - 342 1,994 2,569 Doubtful - - - - - - - - Total 1-4 family mortgage $ 210,245 $ 247,595 $ 77,308 $ 40,416 $ 24,584 $ 77,261 $ 338,289 $ 1,015,698 Other mortgage Pass $ 423,306 $ 798,502 $ 449,472 $ 370,182 $ 123,724 $ 398,486 $ 573,799 $ 3,137,471 Special Mention - - - 130 376 2,681 7,151 10,338 Substandard - - - - 4,449 928 7,324 12,701 Doubtful - - - - - - - - Total Other mortgage $ 423,306 $ 798,502 $ 449,472 $ 370,312 $ 128,549 $ 402,095 $ 588,274 $ 3,160,510 Consumer Pass $ 5,857 $ 7,083 $ 2,982 $ 1,862 $ 402 $ 22,535 $ 24,370 $ 65,091 Special Mention - - - - - 19 - 19 Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 5,857 $ 7,083 $ 2,982 $ 1,862 $ 402 $ 22,554 $ 24,370 $ 65,110 Total Loans Pass $ 1,346,610 $ 2,750,679 $ 1,269,615 $ 817,343 $ 470,970 $ 1,426,985 $ 2,393,868 $ 10,478,928 Special Mention 2,992 9,845 2,115 4,950 4,453 14,629 32,967 71,951 Substandard 1 - 408 11,303 6,019 6,746 44,940 66,441 Doubtful - - - - - - - - Total Loans $ 1,349,603 $ 2,760,524 $ 1,272,138 $ 833,596 $ 481,442 $ 1,448,360 $ 2,471,657 $ 10,617,320 The table below presents loan balances classified by credit quality indicator, loan type and based on year of origination as of December 31, 2021: Revolving December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Total (In thousands) Commercial, financial and agricultural Pass $ 800,822 $ 294,841 $ 209,086 $ 130,579 $ 114,870 $ 127,572 $ 1,216,153 $ 2,893,923 Special Mention 1,245 1,323 942 846 915 784 19,801 25,856 Substandard - 387 10,039 1,741 1,501 7,966 42,640 64,274 Doubtful - - - - - - - - Total Commercial, financial and agricultural $ 802,067 $ 296,551 $ 220,067 $ 133,166 $ 117,286 $ 136,322 $ 1,278,594 $ 2,984,053 Real estate - construction Pass $ 597,497 $ 260,723 $ 110,671 $ 16,452 $ 13,704 $ 17,356 $ 76,662 $ 1,093,065 Special Mention - - 6,594 2,500 - 917 - 10,011 Substandard - - - - - - - - Doubtful - - - - - - - - Total Real estate - construction $ 597,497 $ 260,723 $ 117,265 $ 18,952 $ 13,704 $ 18,273 $ 76,662 $ 1,103,076 Owner-occupied commercial Pass $ 406,473 $ 352,642 $ 231,197 $ 182,812 $ 162,648 $ 430,638 $ 96,860 $ 1,863,270 Special Mention 101 - 2,417 779 476 2,688 - 6,461 Substandard - - - - - 4,372 - 4,372 Doubtful - - - - - - - - Total Owner-occupied commercial $ 406,574 $ 352,642 $ 233,614 $ 183,591 $ 163,124 $ 437,698 $ 96,860 $ 1,874,103 1-4 family mortgage Pass $ 299,686 $ 117,579 $ 68,044 $ 46,954 $ 37,374 $ 37,970 $ 210,338 $ 817,945 Special Mention - 1,000 517 116 260 912 3,033 5,838 Substandard - 150 593 241 231 611 1,156 2,982 Doubtful - - - - - - - - Total 1-4 family mortgage $ 299,686 $ 118,729 $ 69,154 $ 47,311 $ 37,865 $ 39,493 $ 214,527 $ 826,765 Other mortgage Pass $ 882,849 $ 481,012 $ 411,426 $ 174,700 $ 272,555 $ 353,621 $ 81,202 $ 2,657,365 Special Mention - - 130 376 2,720 4,656 - 7,882 Substandard - - - 4,497 8,340 - - 12,837 Doubtful - - - - - - - - Total Other mortgage $ 882,849 $ 481,012 $ 411,556 $ 179,573 $ 283,615 $ 358,277 $ 81,202 $ 2,678,084 Consumer Pass $ 16,303 $ 4,845 $ 2,896 $ 983 $ 903 $ 3,649 $ 37,250 $ 66,829 Special Mention - - - - - 24 - 24 Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 16,303 $ 4,845 $ 2,896 $ 983 $ 903 $ 3,673 $ 37,250 $ 66,853 Total Loans Pass $ 3,003,630 $ 1,511,642 $ 1,033,320 $ 552,480 $ 602,054 $ 970,806 $ 1,718,465 $ 9,392,397 Special Mention 1,346 2,323 10,600 4,617 4,371 9,981 22,834 56,072 Substandard - 537 10,632 6,479 10,072 12,949 43,796 84,465 Doubtful - - - - - - - - Total Loans $ 3,004,976 $ 1,514,502 $ 1,054,552 $ 563,576 $ 616,497 $ 993,736 $ 1,785,095 $ 9,532,934 Loans by performance status as of June 30, 2022 December 31, 2021 June 30, 2022 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,960,589 $ 5,451 $ 2,966,040 Real estate - construction 1,383,155 - 1,383,155 Real estate - mortgage: Owner-occupied commercial 2,023,628 3,179 2,026,807 1-4 family mortgage 1,014,336 1,362 1,015,698 Other mortgage 3,154,993 5,517 3,160,510 Total real estate mortgage 6,192,957 10,058 6,203,015 Consumer 65,088 22 65,110 Total $ 10,601,789 $ 15,531 $ 10,617,320 December 31, 2021 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,979,671 $ 4,382 $ 2,984,053 Real estate - construction 1,103,076 - 1,103,076 Real estate - mortgage: Owner-occupied commercial 1,873,082 1,021 1,874,103 1-4 family mortgage 824,756 2,009 826,765 Other mortgage 2,673,428 4,656 2,678,084 Total real estate mortgage 5,371,266 7,686 5,378,952 Consumer 66,824 29 66,853 Total $ 9,520,837 $ 12,097 $ 9,532,934 Loans by past due status as of June 30, 2022 December 31, 2021 June 30, 2022 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With no ACL (In Thousands) Commercial, financial and agricultural $ 2,810 $ 885 $ 249 $ 3,944 $ 5,202 $ 2,956,894 $ 2,966,040 $ 2,595 Real estate - construction - - - - - 1,383,155 1,383,155 - Real estate - mortgage: Owner-occupied commercial - - - - 3,179 2,023,628 2,026,807 5,515 1-4 family mortgage 402 1,332 134 1,868 1,228 1,012,602 1,015,698 102 Other mortgage 376 - 4,586 4,962 931 3,154,617 3,160,510 - Total real estate - mortgage 778 1,332 4,720 6,830 5,338 6,190,847 6,203,015 5,617 Consumer 53 27 22 102 - 65,008 65,110 - Total $ 3,641 $ 2,244 $ 4,991 $ 10,876 $ 10,540 $ 10,595,904 $ 10,617,320 $ 8,212 December 31, 2021 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With no ACL (In Thousands) Commercial, financial and agricultural $ 516 $ 77 $ 39 $ 632 $ 4,343 $ 2,979,078 $ 2,984,053 $ 2,059 Real estate - construction - - - - - 1,103,076 1,103,076 - Real estate - mortgage: Owner-occupied commercial 143 - - 143 1,021 1,872,939 1,874,103 1,021 1-4 family mortgage - 703 611 1,314 1,398 824,053 826,765 483 Other mortgage - - 4,656 4,656 - 2,673,428 2,678,084 - Total real estate - mortgage 143 703 5,267 6,113 2,419 5,370,420 5,378,952 1,504 Consumer 93 23 29 145 - 66,708 66,853 - Total $ 752 $ 803 $ 5,335 $ 6,890 $ 6,762 $ 9,519,282 $ 9,532,934 $ 3,563 Under the current expected credit losses (“CECL”) methodology, the allowance for credit losses ("ACL") is measured on a collective basis for pools of loans with similar risk characteristics. For loans that do not not The Company uses the discounted cash flow (“DCF”) method to estimate ACL for all loan pools except for commercial and industrial ("C&I") revolving lines of credit and credit cards. For all loan pools utilizing the DCF method, the Company utilizes and forecasts national unemployment rate as a loss driver. The Company also utilizes and forecasts GDP growth as a second June 30, 2022 December 31, 2021, twelve six December 31, 2021. The Company uses a loss-rate method to estimate expected credit losses for its C&I revolving lines of credit and credit card pools. The C&I revolving lines of credit pool incorporates a probability of default (“PD”) and loss given default (“LGD”) modeling approach. This approach involves estimating the pool average life and then using historical correlations of default and loss experience over time to calculate the lifetime PD and LGD. These two Each loan pool is adjusted for qualitative factors not Inherent risks in the loan portfolio will differ based on type of loan. Specific risk characteristics by loan portfolio segment are listed below: Commercial, financial and agricultural loans may may Real estate construction loans Real estate mortgage loans may Consumer loans The following table presents changes in the allowance for credit losses, segregated by loan type, for the three six June 30, 2022 June 30, 2021. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended June 30, 2022 Allowance for credit losses: Balance at March 1, 2022 $ 41,417 $ 27,821 $ 48,548 $ 1,677 $ 119,463 Charge-offs (1,666 ) - (23 ) (124 ) (1,813 ) Recoveries 1,217 - - 13 1,230 Provision 642 8,172 268 426 9,507 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 Three Months Ended March June 30, 2021 Allowance for credit losses: Balance at March 1, 2021 $ 38,232 $ 19,391 $ 35,607 $ 1,676 $ 94,906 Charge-offs (150 ) - (59 ) (54 ) (263 ) Recoveries 298 2 62 13 375 Provision 4,053 3,020 2,920 (341 ) 9,652 Balance at June 30, 2021 $ 42,433 $ 22,413 $ 38,530 $ 1,294 $ 104,670 Six Months Ended June 30, 2022 Allowance for credit losses: Balance at January 1, 2022 $ 41,869 $ 26,994 $ 45,829 $ 1,968 $ 116,660 Charge-offs (4,240 ) - (51 ) (199 ) (4,489 ) Recoveries 1,322 - - 25 1,347 Provision 2,659 8,999 3,014 198 14,869 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 Six Months Ended June 30, 2021 Allowance for credit losses: Balance at January 1, 2021 $ 36,370 $ 16,057 $ 33,722 $ 1,793 $ 87,942 Charge-offs (627 ) - (71 ) (141 ) (839 ) Recoveries 324 52 64 24 464 Provision 6,366 6,304 4,815 (382 ) 17,103 Balance at June 30, 2021 $ 42,433 $ 22,413 $ 38,530 $ 1,294 $ 104,670 We maintain an allowance for credit losses on unfunded lending commitments and letters of credit to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for credit losses for loans, modified to take into account the probability of a drawdown on the commitment. The allowance for credit losses on unfunded loan commitments is classified as a liability account on the Consolidated Balance Sheet within other liabilities, while the corresponding provision for these credit losses is recorded as a component of other expense. The allowance for credit losses on unfunded commitments was $1.6 million at June 30, 2022 December 31, 2021. three six June 30, 2022, three six June 30, 2021, Loans that no Accounts ACL June 30, 2022 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 12,330 $ 5,174 $ 3,246 $ 25,094 $ 45,844 $ 8,264 Real estate - construction - - - 1,227 1,227 96 Real estate - mortgage: Owner-occupied commercial 4,100 - - - 4,100 1,837 1-4 family mortgage 3,226 - - - 3,226 231 Other mortgage 12,704 - - - 12,704 - Total real estate - mortgage 20,030 - - - 20,030 2,068 Consumer - - - - - - Total $ 32,360 $ 5,174 $ 3,246 $ 26,321 $ 67,101 $ 10,428 Accounts ACL December 31, 2021 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 13,067 $ 5,075 $ 18,533 $ 27,599 $ 64,274 $ 9,727 Real estate - construction - - - - - - Real estate - mortgage: Owner-occupied commercial 4,372 - - - 4,372 1,371 1-4 family mortgage 2,982 - - - 2,982 163 Other mortgage 12,837 - - - 12,837 31 Total real estate - mortgage 20,191 - - - 20,191 1,565 Consumer - - - - - - Total $ 33,258 $ 5,075 $ 18,533 $ 27,599 $ 84,465 $ 11,292 Troubled Debt Restructuring (“TDR”) at June 30, 2022, December 31, 2021 June 30, 2021 $‐‐2.4 June 30, 2022, December 31, 2021 June 30, 2021 no three six June 30, 2022. three six June 30, 2021 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 2 $ 1,155 $ 1,155 2 $ 1,155 $ 1,155 Real estate - construction - - - - - - Real estate - mortgage: Owner-occupied commercial 1 991 991 1 991 991 1-4 family mortgage - - - - - - Other mortgage - - - - - - Total real estate mortgage 1 991 991 1 991 991 Consumer - - - - - - 3 $ 2,146 $ 2,146 3 $ 2,146 $ 2,146 There were no loans which were modified in the previous twelve twelve three six June 30, 2022 June 30, 2021, 90 |
Note 6 - Leases
Note 6 - Leases | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 6 The Company leases space under non-cancelable operating leases for several of its banking offices and certain office equipment. The leases have remaining terms up to 9.4 years. At June 30, 2022, December 31, 2021 Maturities of operating lease liabilities as of June 30, 2022 June 30, 2022 (In Thousands) 2022 (remaining) $ 2,086 2023 3,598 2024 2,626 2025 2,500 2026 1,929 thereafter 5,511 Total lease payments 18,250 Less: imputed interest (1,298 ) Present value of operating lease liabilities $ 16,952 As of June 30, 2022, Operating cash flows related to leases were $1.1 million and $2.1 million for the three six June 30, 2022, three six June 30, 2021, Lease costs during the three six June 30, 2022 June 30, 2021 Three Months Ended June 30, 2022 2021 Operating lease cost $ 1,051 $ 1,011 Short-term lease cost 17 - Variable lease cost 151 140 Sublease income (5 ) (24 ) Net lease cost $ 1,214 $ 1,127 Six Months Ended June 30, 2022 2021 Operating lease cost $ 2,095 $ 1,911 Short-term lease cost 25 - Variable lease cost 300 212 Sublease income (29 ) (47 ) Net lease cost $ 2,391 $ 2,076 |
Note 7 - Employee and Director
Note 7 - Employee and Director Benefits | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 7 Stock Options The Company has a stock incentive plan as described below. The compensation cost that has been charged to earnings for the plan was approximately $797,000 and $1.6 million for the three six June 30, 2022, three six June 30, 2021, The Company’s 2009 ten The Company estimates the fair value of each stock option award using a Black-Scholes-Merton valuation model which incorporates the assumptions noted in the following table. Expected volatilities are based on an index of southeastern United States publicly traded banks. The expected term for options granted is based on the simplified method and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U. S. Treasury yield curve in effect at the time of grant. 2022 Expected volatility 40.00 % Expected dividends 1.78 % Expected term (in years) 7.5 Risk-free rate 2.43 % There were no grants of stock options during the six June 30, 2022. six June 30, 2021 The following table summarizes stock option activity during the six June 30, 2022 June 30, 2021: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (years) Value (In Thousands) Six Months Ended June 30, 2022: Outstanding at January 1, 2022 353,250 $ 19.28 3.8 $ 23,525 Exercised (48,000 ) 17.85 2.8 2,931 Outstanding at June 30, 2022 305,250 19.51 3.4 $ 18,431 Exercisable at June 30, 2022 243,500 $ 14.77 2.5 $ 15,924 Six Months Ended June 30, 2021: Outstanding at January 1, 2021 640,950 $ 18.14 4.6 $ 16,981 Granted 500 32.60 8.0 18 Exercised (197,200 ) 10.31 3.1 11,574 Forfeited (6,000 ) 5.82 0.7 106 Outstanding at June 30, 2021 438,250 $ 19.68 4.4 $ 22,121 Exercisable at June 30, 2021 337,000 $ 13.84 3.5 $ 18,841 As of June 30, 2022, Restricted Stock and Performance Shares The Company periodically grants restricted stock awards that vest upon time-based service conditions. Dividend payments are made during the vesting period. The value of restricted stock is determined to be the current value of the Company’s stock, and this total value will be recognized as compensation expense over the vesting period. As of June 30, 2022, The Company periodically grants performance shares that give plan participants the opportunity to earn between 0% and 150% of the number of performance shares granted based on achieving certain performance metrics. The number of performance shares earned is determined by reference to the Company’s total shareholder return relative to a peer group of other publicly traded banks and bank holding companies during the performance period. The performance period is generally three June 30, 2022, June 30, 2022, Restricted Stock Performance Shares Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Six Months Ended June 30, 2022: Non-vested at January 1, 2022 127,602 $ 42.27 12,437 $ 37.05 Granted 46,266 83.06 9,165 69.68 Vested (23,507 ) 44.85 - - Forfeited (3,498 ) 53.25 - - Non-vested at June 30, 2022 146,863 $ 54.45 21,602 $ 50.89 Six Months Ended June 30, 2021: Non-vested at January 1, 2021 84,307 $ 34.92 - $ - Granted 64,199 46.37 12,437 37.05 Vested (11,778 ) 27.99 - - Forfeited (6,975 ) 38.81 - - Non-vested at June 30, 2021 129,753 $ 41.01 12,437 $ 37.05 |
Note 8 - Derivatives
Note 8 - Derivatives | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 8 The Company periodically enters into derivative contracts to manage exposures to movements in interest rates. The Company purchased an interest rate cap in May 2020 not one June 30, 2022 five The Company has entered into forward loan sale commitments with secondary market investors to deliver loans on a “best efforts delivery” basis, which do not 30 not no June 30, 2022 December 31, 2021 not |
Note 9 - Recently Adopted Accou
Note 9 - Recently Adopted Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
New Adopted Accounting Pronouncements [Text Block] | NOTE 9 RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In July 2021, 2021 05 , Leases (Topic 842 Lessors-Certain Leases with Variable Lease Payments no not January 1, 2022. 2021 05 not |
Note 10 - Recent Accounting Pro
Note 10 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | NOTE 10 In March 2022, 2022 02, Financial Instruments Credit Losses (Topic 326 326 20. No. 2016 13 December 31, 2022, No. 2016 13, may January 1, 2023. |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurement | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 11 Measurement of fair value under U.S. GAAP establishes a hierarchy that prioritizes observable and unobservable inputs used to measure fair value, as of the measurement date, into three Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 Level 2: Observable prices that are based on inputs not Level 3: Unobservable inputs are used when little or no 3 In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and also considers counterparty credit risk in its assessment of fair value. Debt Securities. 1 1 not may 2 2 not 3 Derivative instruments. 2 Loans Individually Evaluated. not 3 June 30, 2022 December 31, 2021 three six June 30, 2022, three six June 30, 2021, Other Real Estate Owned not June 30, 2022 December 31, 2021 3 three six June 30, 2022, three six June 30, 2021, 3 There was one June 30, 2022, one December 31, 2021. Two residential real estate loans for $212,000 was in the process of being foreclosed as of June 30, 2022. one December 31, 2021. The following table presents the Company’s financial assets carried at fair value on a recurring basis as of June 30, 2022 December 31, 2021. June 30, 2022 December 31, 2021. Fair Value Measurements at June 30, 2022 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available-for-sale debt securities: U.S. Treasury securities $ 5,966 $ - $ - $ 5,966 Government agencies - 14 - 14 Mortgage-backed securities - 285,428 - 285,428 State and municipal securities - 16,280 - 16,280 Corporate debt - 410,775 6,000 416,775 Total available-for-sale debt securities 5,966 712,497 6,000 724,463 Interest rate cap derivative - 6,446 - 6,446 Total assets at fair value $ 5,966 $ 718,943 $ 6,000 $ 730,909 Fair Value Measurements at December 31, 2021 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available-for-sale debt securities: U.S. Treasury securities $ 9,104 $ - $ - $ 9,104 Government agencies - 6,041 - 6,041 Mortgage-backed securities - 425,161 - 425,161 State and municipal securities - 21,634 - 21,634 Corporate debt - 363,638 16,992 380,630 Total available-for-sale debt securities 9,104 816,474 16,992 842,570 Interest rate cap derivative - 1,152 - 1,152 Total assets at fair value $ 9,104 $ 817,626 $ 16,992 $ 843,722 The following table presents the Company’s financial assets carried at fair value on a nonrecurring basis as of June 30, 2022 December 31, 2021: Fair Value Measurements at June 30, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 56,673 $ 56,673 Other real estate owned and repossessed assets - - 1,207 1,207 Total assets at fair value $ - $ - $ 57,880 $ 57,880 Fair Value Measurements at December 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 73,173 $ 73,173 Other real estate owned and repossessed assets - - 1,208 1,208 Total assets at fair value $ - $ - $ 74,381 $ 74,381 There were no liabilities measured at fair value on a non-recurring basis as of June 30, 2022, December 31, 2021. In the case of the investment securities portfolio, the Company monitors the portfolio to ascertain when transfers between levels have been affected. The nature of the remaining assets and liabilities is such that transfers in and out of any level are expected to be rare. For the six June 30, 2022, three 1, 2 3. The table below includes a rollforward of the balance sheet amounts for the three six June 30, 2022 June 30, 2021 ( 3 For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 Available-for-sale Securities Available-for-sale Securities Available-for-sale Securities Available-for-sale Securities (In Thousands) Fair value, beginning of period $ 11,500 $ 10,301 $ 16,992 $ - Transfers into Level 3 - - - 6,000 Total realized gains included in income - - - - Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end (462 ) 193 (805 ) 494 Purchases - 8,500 - 12,500 Transfers out of Level 3 (5,038 ) (4,000 ) (10,187 ) (4,000 ) Fair value, end of period $ 6,000 $ 14,994 $ 6,000 $ 14,994 The fair value of a financial instrument is the current amount that would be exchanged in a sale between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no not may not may not The estimated fair values of the Company’s financial instruments not June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 inputs: Cash and due from banks $ 1,587,149 $ 1,587,149 $ 4,163,724 $ 4,163,724 Level 2 inputs: Federal funds sold 101,447 101,447 58,372 58,372 Held to maturity debt securities 1,065,505 1,003,590 462,707 466,036 Mortgage loans held for sale 3,451 3,390 1,114 1,111 Level 3 inputs: Held to maturity debt securities 250 250 250 250 Loans, net 10,432,260 10,432,260 9,416,274 9,403,012 Financial liabilities: Level 2 inputs: Deposits $ 11,772,337 $ 11,777,719 $ 12,452,836 $ 12,454,140 Federal funds purchased 1,389,167 1,389,167 1,711,777 1,711,777 Other borrowings 64,716 65,457 64,706 65,476 |
Note 3 - Earnings Per Common _2
Note 3 - Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 54,295,789 54,173,034 54,279,574 54,112,190 Net income available to common stockholders $ 62,105 $ 49,996 $ 119,718 $ 101,451 Basic earnings per common share $ 1.14 $ 0.92 $ 2.21 $ 1.87 Weighted average common shares outstanding 54,295,789 54,173,034 54,279,574 54,112,190 Dilutive effects of assumed exercise of stock options and vesting of performance shares 236,596 287,196 247,668 309,137 Weighted average common and dilutive potential common shares outstanding 54,532,385 54,460,230 54,527,242 54,421,327 Net income available to common stockholders $ 62,105 $ 49,996 $ 119,718 $ 101,451 Diluted earnings per common share $ 1.14 $ 0.92 $ 2.20 $ 1.86 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair Cost Gain Loss Value June 30, 2022 (In Thousands) Debt Securities Available for Sale U.S. Treasury Securities $ 6,004 $ - $ (38 ) $ 5,966 Government Agency Securities 14 - - 14 Mortgage-backed securities 308,033 43 (22,648 ) 285,428 State and municipal securities 17,446 5 (1,171 ) 16,280 Corporate debt 427,688 618 (11,531 ) 416,775 Total $ 759,185 $ 666 $ (35,388 ) $ 724,463 Debt Securities Held to Maturity U.S. Treasury Securities $ 506,246 $ - $ (22,750 ) $ 483,496 Mortgage-backed securities 551,480 56 (38,538 ) 512,998 State and municipal securities 8,030 - (683 ) 7,347 Total $ 1,065,755 $ 56 $ (61,971 ) $ 1,003,840 December 31, 2021 Debt Securities Available for Sale U.S Treasury Securities $ 9,003 $ 101 $ - $ 9,104 Government Agency Securities 6,022 19 - 6,041 Mortgage-backed securities 424,372 3,474 (2,685 ) 425,161 State and municipal securities 21,531 173 (70 ) 21,634 Corporate debt 369,618 11,659 (647 ) 380,630 Total $ 830,546 $ 15,425 $ (3,402 ) $ 842,570 Debt Securities Held to Maturity U.S. Treasury Securities $ 149,263 $ 25 $ (668 ) $ 148,620 Mortgage-backed securities 310,641 5,251 (1,271 ) 314,621 State and municipal securities 3,053 2 (10 ) 3,045 Total $ 462,957 $ 5,278 $ (1,949 ) $ 466,286 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | June 30, 2022 December 31, 2021 Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Debt securities available for sale Due within one year $ 24,683 $ 24,590 $ 32,913 $ 33,232 Due from one to five years 62,123 61,391 31,760 32,307 Due from five to ten years 361,346 350,109 338,407 348,594 Due after ten years 3,000 2,945 3,094 3,276 Mortgage-backed securities 308,033 285,428 424,372 425,161 $ 759,185 $ 724,463 $ 830,546 $ 842,570 Debt securities held to maturity Due within one year $ 250 $ 250 $ 250 $ 250 Due from one to five years 385,593 373,926 49,663 49,419 Due from five to ten years 128,432 116,667 102,403 101,996 Mortgage-backed securities 551,480 512,998 310,641 314,621 $ 1,065,755 $ 1,003,840 $ 462,957 $ 466,286 |
Gain (Loss) on Securities [Table Text Block] | Less Than Twelve Months Twelve Months or More Total Gross Gross Gross Unrealized Unrealized Unrealized Losses Fair Value Losses Fair Value Losses Fair Value June 30, 2022 (In Thousands) Debt Securities available for sale U.S. Treasury Securities $ (38 ) $ 5,966 $ - $ - $ (38 ) $ 5,966 Mortgage-backed securities (20,147 ) 261,595 (2,501 ) 22,005 (22,648 ) 283,600 State and municipal securities (1,112 ) 11,613 (59 ) 410 (1,171 ) 12,023 Corporate debt (11,366 ) 327,226 (165 ) 1,335 (11,531 ) 328,561 Total $ (32,664 ) $ 606,400 $ (2,724 ) $ 23,751 $ (35,388 ) $ 630,151 Debt Securities held to maturity U.S. Treasury Securities $ (22,750 ) $ 483,496 $ - $ - $ (22,750 ) $ 483,496 Mortgage-backed securities (34,900 ) 481,201 (3,639 ) 21,918 (38,538 ) 503,119 State and municipal securities (683 ) 7,097 - - (683 ) 7,097 Total $ (58,333 ) $ 971,794 $ (3,639 ) $ 21,918 $ (61,971 ) $ 993,712 December 31, 2021 Debt Securities available for sale Mortgage-backed securities $ (2,685 ) $ 303,297 $ - $ - $ (2,685 ) $ 303,297 State and municipal securities (61 ) 5,198 (9 ) 228 (70 ) 5,426 Corporate debt (647 ) 61,677 - - (647 ) 61,677 Total $ (3,393 ) $ 370,172 $ (9 ) $ 228 $ (3,402 ) $ 370,400 Debt Securities held to maturity U.S. Treasury Securities $ (668 ) $ 123,698 $ - $ - $ (668 ) $ 123,698 Mortgage-backed securities (1,271 ) 134,192 - - (1,271 ) 134,192 State and municipal securities (10 ) 482 - - (10 ) 482 Total $ (1,950 ) $ 258,372 $ - $ - $ (1,949 ) $ 258,372 |
Debt Securities, Available-for-Sale [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In Thousands) Sale and call proceeds $ 33,425 $ 6,272 $ 75,036 $ 6,272 Gross realized gains $ - $ 620 $ - $ 620 Gross realized losses (2,833 ) - (6,168 ) - Net realized gain (loss) $ (2,833 ) $ 620 $ (6,168 ) $ 620 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2022 2021 (Dollars In Thousands) Commercial, financial and agricultural $ 2,966,040 $ 2,984,053 Real estate - construction 1,383,155 1,103,076 Real estate - mortgage: Owner-occupied commercial 2,026,807 1,874,103 1-4 family mortgage 1,015,698 826,765 Other mortgage 3,160,510 2,678,084 Subtotal: Real estate - mortgage 6,203,015 5,378,952 Consumer 65,110 66,853 Total Loans 10,617,320 9,532,934 Less: Allowance for credit losses (128,387 ) (116,660 ) Net Loans $ 10,488,933 $ 9,416,274 Commercial, financial and agricultural 27.94 % 31.30 % Real estate - construction 13.03 % 11.57 % Real estate - mortgage: Owner-occupied commercial 19.09 % 19.66 % 1-4 family mortgage 9.57 % 8.67 % Other mortgage 29.77 % 28.10 % Subtotal: Real estate - mortgage 58.42 % 56.42 % Consumer 0.61 % 0.70 % Total Loans 100.00 % 100.00 % |
Financing Receivable Credit Quality Indicators [Table Text Block] | Revolving June 30, 2022 2022 2021 2020 2019 2018 Prior Loans Total (In thousands) Commercial, financial and agricultural Pass $ 295,183 $ 671,693 $ 257,345 $ 227,787 $ 164,947 $ 514,106 $ 748,747 $ 2,880,087 Special Mention 100 6,717 1,276 2,277 3,444 4,950 21,344 40,108 Substandard 1 - 408 11,071 343 3,610 30,691 45,845 Doubtful - - - - - - - - Total Commercial, financial and agricultural $ 295,284 $ 678,410 $ 259,029 $ 241,135 $ 168,734 $ 522,666 $ 800,782 $ 2,966,040 Real estate - construction Pass $ 237,946 $ 600,567 $ 226,083 $ 17,895 $ 8,644 $ 29,479 $ 257,920 $ 1,378,534 Special Mention 2,500 - - - - 894 - 3,394 Substandard - - - - 1,227 - - 1,227 Doubtful - - - - - - - - Total Real estate - construction $ 240,446 $ 600,567 $ 226,083 $ 17,895 $ 9,871 $ 30,373 $ 257,920 $ 1,383,155 Owner-occupied commercial Pass $ 174,174 $ 426,742 $ 257,264 $ 159,595 $ 148,669 $ 386,045 $ 455,962 $ 2,010,500 Special Mention 291 1,625 - 2,382 633 5,500 1,777 12,208 Substandard - - - - - 1,866 4,283 4,099 Doubtful - - - - - - - - Total Owner-occupied commercial $ 174,465 $ 428,367 $ 257,264 $ 161,977 $ 149,302 $ 393,411 $ 462,022 $ 2,026,807 1-4 family mortgage Pass $ 210,144 $ 246,092 $ 76,469 $ 40,022 $ 24,584 $ 76,334 $ 333,600 $ 1,007,245 Special Mention 101 1,503 839 161 - 585 2,695 5,884 Substandard - - - 233 - 342 1,994 2,569 Doubtful - - - - - - - - Total 1-4 family mortgage $ 210,245 $ 247,595 $ 77,308 $ 40,416 $ 24,584 $ 77,261 $ 338,289 $ 1,015,698 Other mortgage Pass $ 423,306 $ 798,502 $ 449,472 $ 370,182 $ 123,724 $ 398,486 $ 573,799 $ 3,137,471 Special Mention - - - 130 376 2,681 7,151 10,338 Substandard - - - - 4,449 928 7,324 12,701 Doubtful - - - - - - - - Total Other mortgage $ 423,306 $ 798,502 $ 449,472 $ 370,312 $ 128,549 $ 402,095 $ 588,274 $ 3,160,510 Consumer Pass $ 5,857 $ 7,083 $ 2,982 $ 1,862 $ 402 $ 22,535 $ 24,370 $ 65,091 Special Mention - - - - - 19 - 19 Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 5,857 $ 7,083 $ 2,982 $ 1,862 $ 402 $ 22,554 $ 24,370 $ 65,110 Total Loans Pass $ 1,346,610 $ 2,750,679 $ 1,269,615 $ 817,343 $ 470,970 $ 1,426,985 $ 2,393,868 $ 10,478,928 Special Mention 2,992 9,845 2,115 4,950 4,453 14,629 32,967 71,951 Substandard 1 - 408 11,303 6,019 6,746 44,940 66,441 Doubtful - - - - - - - - Total Loans $ 1,349,603 $ 2,760,524 $ 1,272,138 $ 833,596 $ 481,442 $ 1,448,360 $ 2,471,657 $ 10,617,320 Revolving December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Total (In thousands) Commercial, financial and agricultural Pass $ 800,822 $ 294,841 $ 209,086 $ 130,579 $ 114,870 $ 127,572 $ 1,216,153 $ 2,893,923 Special Mention 1,245 1,323 942 846 915 784 19,801 25,856 Substandard - 387 10,039 1,741 1,501 7,966 42,640 64,274 Doubtful - - - - - - - - Total Commercial, financial and agricultural $ 802,067 $ 296,551 $ 220,067 $ 133,166 $ 117,286 $ 136,322 $ 1,278,594 $ 2,984,053 Real estate - construction Pass $ 597,497 $ 260,723 $ 110,671 $ 16,452 $ 13,704 $ 17,356 $ 76,662 $ 1,093,065 Special Mention - - 6,594 2,500 - 917 - 10,011 Substandard - - - - - - - - Doubtful - - - - - - - - Total Real estate - construction $ 597,497 $ 260,723 $ 117,265 $ 18,952 $ 13,704 $ 18,273 $ 76,662 $ 1,103,076 Owner-occupied commercial Pass $ 406,473 $ 352,642 $ 231,197 $ 182,812 $ 162,648 $ 430,638 $ 96,860 $ 1,863,270 Special Mention 101 - 2,417 779 476 2,688 - 6,461 Substandard - - - - - 4,372 - 4,372 Doubtful - - - - - - - - Total Owner-occupied commercial $ 406,574 $ 352,642 $ 233,614 $ 183,591 $ 163,124 $ 437,698 $ 96,860 $ 1,874,103 1-4 family mortgage Pass $ 299,686 $ 117,579 $ 68,044 $ 46,954 $ 37,374 $ 37,970 $ 210,338 $ 817,945 Special Mention - 1,000 517 116 260 912 3,033 5,838 Substandard - 150 593 241 231 611 1,156 2,982 Doubtful - - - - - - - - Total 1-4 family mortgage $ 299,686 $ 118,729 $ 69,154 $ 47,311 $ 37,865 $ 39,493 $ 214,527 $ 826,765 Other mortgage Pass $ 882,849 $ 481,012 $ 411,426 $ 174,700 $ 272,555 $ 353,621 $ 81,202 $ 2,657,365 Special Mention - - 130 376 2,720 4,656 - 7,882 Substandard - - - 4,497 8,340 - - 12,837 Doubtful - - - - - - - - Total Other mortgage $ 882,849 $ 481,012 $ 411,556 $ 179,573 $ 283,615 $ 358,277 $ 81,202 $ 2,678,084 Consumer Pass $ 16,303 $ 4,845 $ 2,896 $ 983 $ 903 $ 3,649 $ 37,250 $ 66,829 Special Mention - - - - - 24 - 24 Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 16,303 $ 4,845 $ 2,896 $ 983 $ 903 $ 3,673 $ 37,250 $ 66,853 Total Loans Pass $ 3,003,630 $ 1,511,642 $ 1,033,320 $ 552,480 $ 602,054 $ 970,806 $ 1,718,465 $ 9,392,397 Special Mention 1,346 2,323 10,600 4,617 4,371 9,981 22,834 56,072 Substandard - 537 10,632 6,479 10,072 12,949 43,796 84,465 Doubtful - - - - - - - - Total Loans $ 3,004,976 $ 1,514,502 $ 1,054,552 $ 563,576 $ 616,497 $ 993,736 $ 1,785,095 $ 9,532,934 |
Financing Receivable, Credit Substitute, Credit Quality Indicator [Table Text Block] | June 30, 2022 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,960,589 $ 5,451 $ 2,966,040 Real estate - construction 1,383,155 - 1,383,155 Real estate - mortgage: Owner-occupied commercial 2,023,628 3,179 2,026,807 1-4 family mortgage 1,014,336 1,362 1,015,698 Other mortgage 3,154,993 5,517 3,160,510 Total real estate mortgage 6,192,957 10,058 6,203,015 Consumer 65,088 22 65,110 Total $ 10,601,789 $ 15,531 $ 10,617,320 December 31, 2021 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,979,671 $ 4,382 $ 2,984,053 Real estate - construction 1,103,076 - 1,103,076 Real estate - mortgage: Owner-occupied commercial 1,873,082 1,021 1,874,103 1-4 family mortgage 824,756 2,009 826,765 Other mortgage 2,673,428 4,656 2,678,084 Total real estate mortgage 5,371,266 7,686 5,378,952 Consumer 66,824 29 66,853 Total $ 9,520,837 $ 12,097 $ 9,532,934 |
Financing Receivable, Past Due [Table Text Block] | June 30, 2022 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With no ACL (In Thousands) Commercial, financial and agricultural $ 2,810 $ 885 $ 249 $ 3,944 $ 5,202 $ 2,956,894 $ 2,966,040 $ 2,595 Real estate - construction - - - - - 1,383,155 1,383,155 - Real estate - mortgage: Owner-occupied commercial - - - - 3,179 2,023,628 2,026,807 5,515 1-4 family mortgage 402 1,332 134 1,868 1,228 1,012,602 1,015,698 102 Other mortgage 376 - 4,586 4,962 931 3,154,617 3,160,510 - Total real estate - mortgage 778 1,332 4,720 6,830 5,338 6,190,847 6,203,015 5,617 Consumer 53 27 22 102 - 65,008 65,110 - Total $ 3,641 $ 2,244 $ 4,991 $ 10,876 $ 10,540 $ 10,595,904 $ 10,617,320 $ 8,212 December 31, 2021 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With no ACL (In Thousands) Commercial, financial and agricultural $ 516 $ 77 $ 39 $ 632 $ 4,343 $ 2,979,078 $ 2,984,053 $ 2,059 Real estate - construction - - - - - 1,103,076 1,103,076 - Real estate - mortgage: Owner-occupied commercial 143 - - 143 1,021 1,872,939 1,874,103 1,021 1-4 family mortgage - 703 611 1,314 1,398 824,053 826,765 483 Other mortgage - - 4,656 4,656 - 2,673,428 2,678,084 - Total real estate - mortgage 143 703 5,267 6,113 2,419 5,370,420 5,378,952 1,504 Consumer 93 23 29 145 - 66,708 66,853 - Total $ 752 $ 803 $ 5,335 $ 6,890 $ 6,762 $ 9,519,282 $ 9,532,934 $ 3,563 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended June 30, 2022 Allowance for credit losses: Balance at March 1, 2022 $ 41,417 $ 27,821 $ 48,548 $ 1,677 $ 119,463 Charge-offs (1,666 ) - (23 ) (124 ) (1,813 ) Recoveries 1,217 - - 13 1,230 Provision 642 8,172 268 426 9,507 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 Three Months Ended March June 30, 2021 Allowance for credit losses: Balance at March 1, 2021 $ 38,232 $ 19,391 $ 35,607 $ 1,676 $ 94,906 Charge-offs (150 ) - (59 ) (54 ) (263 ) Recoveries 298 2 62 13 375 Provision 4,053 3,020 2,920 (341 ) 9,652 Balance at June 30, 2021 $ 42,433 $ 22,413 $ 38,530 $ 1,294 $ 104,670 Six Months Ended June 30, 2022 Allowance for credit losses: Balance at January 1, 2022 $ 41,869 $ 26,994 $ 45,829 $ 1,968 $ 116,660 Charge-offs (4,240 ) - (51 ) (199 ) (4,489 ) Recoveries 1,322 - - 25 1,347 Provision 2,659 8,999 3,014 198 14,869 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 Six Months Ended June 30, 2021 Allowance for credit losses: Balance at January 1, 2021 $ 36,370 $ 16,057 $ 33,722 $ 1,793 $ 87,942 Charge-offs (627 ) - (71 ) (141 ) (839 ) Recoveries 324 52 64 24 464 Provision 6,366 6,304 4,815 (382 ) 17,103 Balance at June 30, 2021 $ 42,433 $ 22,413 $ 38,530 $ 1,294 $ 104,670 |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | Accounts ACL June 30, 2022 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 12,330 $ 5,174 $ 3,246 $ 25,094 $ 45,844 $ 8,264 Real estate - construction - - - 1,227 1,227 96 Real estate - mortgage: Owner-occupied commercial 4,100 - - - 4,100 1,837 1-4 family mortgage 3,226 - - - 3,226 231 Other mortgage 12,704 - - - 12,704 - Total real estate - mortgage 20,030 - - - 20,030 2,068 Consumer - - - - - - Total $ 32,360 $ 5,174 $ 3,246 $ 26,321 $ 67,101 $ 10,428 Accounts ACL December 31, 2021 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 13,067 $ 5,075 $ 18,533 $ 27,599 $ 64,274 $ 9,727 Real estate - construction - - - - - - Real estate - mortgage: Owner-occupied commercial 4,372 - - - 4,372 1,371 1-4 family mortgage 2,982 - - - 2,982 163 Other mortgage 12,837 - - - 12,837 31 Total real estate - mortgage 20,191 - - - 20,191 1,565 Consumer - - - - - - Total $ 33,258 $ 5,075 $ 18,533 $ 27,599 $ 84,465 $ 11,292 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 2 $ 1,155 $ 1,155 2 $ 1,155 $ 1,155 Real estate - construction - - - - - - Real estate - mortgage: Owner-occupied commercial 1 991 991 1 991 991 1-4 family mortgage - - - - - - Other mortgage - - - - - - Total real estate mortgage 1 991 991 1 991 991 Consumer - - - - - - 3 $ 2,146 $ 2,146 3 $ 2,146 $ 2,146 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | June 30, 2022 (In Thousands) 2022 (remaining) $ 2,086 2023 3,598 2024 2,626 2025 2,500 2026 1,929 thereafter 5,511 Total lease payments 18,250 Less: imputed interest (1,298 ) Present value of operating lease liabilities $ 16,952 |
Lease, Cost [Table Text Block] | Three Months Ended June 30, 2022 2021 Operating lease cost $ 1,051 $ 1,011 Short-term lease cost 17 - Variable lease cost 151 140 Sublease income (5 ) (24 ) Net lease cost $ 1,214 $ 1,127 Six Months Ended June 30, 2022 2021 Operating lease cost $ 2,095 $ 1,911 Short-term lease cost 25 - Variable lease cost 300 212 Sublease income (29 ) (47 ) Net lease cost $ 2,391 $ 2,076 |
Note 7 - Employee and Directo_2
Note 7 - Employee and Director Benefits (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2022 Expected volatility 40.00 % Expected dividends 1.78 % Expected term (in years) 7.5 Risk-free rate 2.43 % |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (years) Value (In Thousands) Six Months Ended June 30, 2022: Outstanding at January 1, 2022 353,250 $ 19.28 3.8 $ 23,525 Exercised (48,000 ) 17.85 2.8 2,931 Outstanding at June 30, 2022 305,250 19.51 3.4 $ 18,431 Exercisable at June 30, 2022 243,500 $ 14.77 2.5 $ 15,924 Six Months Ended June 30, 2021: Outstanding at January 1, 2021 640,950 $ 18.14 4.6 $ 16,981 Granted 500 32.60 8.0 18 Exercised (197,200 ) 10.31 3.1 11,574 Forfeited (6,000 ) 5.82 0.7 106 Outstanding at June 30, 2021 438,250 $ 19.68 4.4 $ 22,121 Exercisable at June 30, 2021 337,000 $ 13.84 3.5 $ 18,841 |
Share-Based Payment Arrangement, Outstanding Award, Activity, Excluding Option [Table Text Block] | Restricted Stock Performance Shares Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Six Months Ended June 30, 2022: Non-vested at January 1, 2022 127,602 $ 42.27 12,437 $ 37.05 Granted 46,266 83.06 9,165 69.68 Vested (23,507 ) 44.85 - - Forfeited (3,498 ) 53.25 - - Non-vested at June 30, 2022 146,863 $ 54.45 21,602 $ 50.89 Six Months Ended June 30, 2021: Non-vested at January 1, 2021 84,307 $ 34.92 - $ - Granted 64,199 46.37 12,437 37.05 Vested (11,778 ) 27.99 - - Forfeited (6,975 ) 38.81 - - Non-vested at June 30, 2021 129,753 $ 41.01 12,437 $ 37.05 |
Note 11 - Fair Value Measurem_2
Note 11 - Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 2022 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available-for-sale debt securities: U.S. Treasury securities $ 5,966 $ - $ - $ 5,966 Government agencies - 14 - 14 Mortgage-backed securities - 285,428 - 285,428 State and municipal securities - 16,280 - 16,280 Corporate debt - 410,775 6,000 416,775 Total available-for-sale debt securities 5,966 712,497 6,000 724,463 Interest rate cap derivative - 6,446 - 6,446 Total assets at fair value $ 5,966 $ 718,943 $ 6,000 $ 730,909 Fair Value Measurements at December 31, 2021 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available-for-sale debt securities: U.S. Treasury securities $ 9,104 $ - $ - $ 9,104 Government agencies - 6,041 - 6,041 Mortgage-backed securities - 425,161 - 425,161 State and municipal securities - 21,634 - 21,634 Corporate debt - 363,638 16,992 380,630 Total available-for-sale debt securities 9,104 816,474 16,992 842,570 Interest rate cap derivative - 1,152 - 1,152 Total assets at fair value $ 9,104 $ 817,626 $ 16,992 $ 843,722 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at June 30, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 56,673 $ 56,673 Other real estate owned and repossessed assets - - 1,207 1,207 Total assets at fair value $ - $ - $ 57,880 $ 57,880 Fair Value Measurements at December 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 73,173 $ 73,173 Other real estate owned and repossessed assets - - 1,208 1,208 Total assets at fair value $ - $ - $ 74,381 $ 74,381 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 Available-for-sale Securities Available-for-sale Securities Available-for-sale Securities Available-for-sale Securities (In Thousands) Fair value, beginning of period $ 11,500 $ 10,301 $ 16,992 $ - Transfers into Level 3 - - - 6,000 Total realized gains included in income - - - - Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end (462 ) 193 (805 ) 494 Purchases - 8,500 - 12,500 Transfers out of Level 3 (5,038 ) (4,000 ) (10,187 ) (4,000 ) Fair value, end of period $ 6,000 $ 14,994 $ 6,000 $ 14,994 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2022 December 31, 2021 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 inputs: Cash and due from banks $ 1,587,149 $ 1,587,149 $ 4,163,724 $ 4,163,724 Level 2 inputs: Federal funds sold 101,447 101,447 58,372 58,372 Held to maturity debt securities 1,065,505 1,003,590 462,707 466,036 Mortgage loans held for sale 3,451 3,390 1,114 1,111 Level 3 inputs: Held to maturity debt securities 250 250 250 250 Loans, net 10,432,260 10,432,260 9,416,274 9,403,012 Financial liabilities: Level 2 inputs: Deposits $ 11,772,337 $ 11,777,719 $ 12,452,836 $ 12,454,140 Federal funds purchased 1,389,167 1,389,167 1,711,777 1,711,777 Other borrowings 64,716 65,457 64,706 65,476 |
Note 3 - Earnings Per Common _3
Note 3 - Earnings Per Common Share - Summary of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Weighted average common shares outstanding (in shares) | 54,295,789 | 54,173,034 | 54,279,574 | 54,112,190 |
Net income available to common stockholders | $ 62,105 | $ 49,996 | $ 119,718 | $ 101,451 |
Basic earnings per common share (in dollars per share) | $ 1.14 | $ 0.92 | $ 2.21 | $ 1.87 |
Dilutive effects of assumed exercise of stock options and vesting of performance shares (in shares) | 236,596 | 287,196 | 247,668 | 309,137 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 54,532,385 | 54,460,230 | 54,527,242 | 54,421,327 |
Net income available to common stockholders | $ 62,105 | $ 49,996 | $ 119,718 | $ 101,451 |
Diluted earnings per common share (in dollars per share) | $ 1.14 | $ 0.92 | $ 2.20 | $ 1.86 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Debt Securities, Available-for-sale, Allowance for Credit Loss, Current | $ 0 | ||
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance | $ 0 | ||
Asset Not Pledged as Collateral and Asset Pledged as Collateral without Right [Member] | |||
Debt Securities, Total | $ 666,700 | $ 463,100 |
Note 4 - Securities - Amortized
Note 4 - Securities - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | |
Available for sale, amortized cost | $ 759,185 | $ 830,546 | |
Available for sale, gross unrealized gain | 666 | 15,425 | |
Available for sale, gross unrealized loss | (35,388) | (3,402) | |
Available for sale, fair value | 724,463 | 842,570 | [1] |
Held to maturity, amortized cost | 1,065,755 | 462,957 | |
Held to maturity, gross unrealized gain | 56 | 5,278 | |
Held to maturity, gross unrealized loss | (61,971) | (1,949) | |
Held to maturity debt securities, fair value | 1,003,840 | 466,286 | [1] |
US Treasury Securities [Member] | |||
Available for sale, amortized cost | 6,004 | 9,003 | |
Available for sale, gross unrealized gain | 0 | 101 | |
Available for sale, gross unrealized loss | (38) | 0 | |
Available for sale, fair value | 5,966 | 9,104 | |
Held to maturity, amortized cost | 506,246 | 149,263 | |
Held to maturity, gross unrealized gain | 0 | 25 | |
Held to maturity, gross unrealized loss | (22,750) | (668) | |
Held to maturity debt securities, fair value | 483,496 | 148,620 | |
US Government Agencies Debt Securities [Member] | |||
Available for sale, amortized cost | 14 | 6,022 | |
Available for sale, gross unrealized gain | 0 | 19 | |
Available for sale, gross unrealized loss | 0 | 0 | |
Available for sale, fair value | 14 | 6,041 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, amortized cost | 308,033 | 424,372 | |
Available for sale, gross unrealized gain | 43 | 3,474 | |
Available for sale, gross unrealized loss | (22,648) | (2,685) | |
Available for sale, fair value | 285,428 | 425,161 | |
Held to maturity, amortized cost | 551,480 | 310,641 | |
Held to maturity, gross unrealized gain | 56 | 5,251 | |
Held to maturity, gross unrealized loss | (38,538) | (1,271) | |
Held to maturity debt securities, fair value | 512,998 | 314,621 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, amortized cost | 17,446 | 21,531 | |
Available for sale, gross unrealized gain | 5 | 173 | |
Available for sale, gross unrealized loss | (1,171) | (70) | |
Available for sale, fair value | 16,280 | 21,634 | |
Held to maturity, amortized cost | 8,030 | 3,053 | |
Held to maturity, gross unrealized gain | 0 | 2 | |
Held to maturity, gross unrealized loss | (683) | (10) | |
Held to maturity debt securities, fair value | 7,347 | 3,045 | |
Corporate Debt Securities [Member] | |||
Available for sale, amortized cost | 427,688 | 369,618 | |
Available for sale, gross unrealized gain | 618 | 11,659 | |
Available for sale, gross unrealized loss | (11,531) | (647) | |
Available for sale, fair value | $ 416,775 | $ 380,630 | |
[1]derived from audited financial statements. |
Note 4 - Securities - Amortiz_2
Note 4 - Securities - Amortized Cost and Fair Value of Contractual Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | |
Due within one year, amortized cost | $ 24,683 | $ 32,913 | |
Due within one year, fair value | 24,590 | 33,232 | |
Due from one to five years, amortized cost | 62,123 | 31,760 | |
Due from one to five years, fair value | 61,391 | 32,307 | |
Due from five to ten years, amortized cost | 361,346 | 338,407 | |
Due from five to ten years, fair value | 350,109 | 348,594 | |
Due after ten years, amortized cost | 3,000 | 3,094 | |
Due after ten years, fair value | 2,945 | 3,276 | |
Mortgage-backed securities, amortized cost | 308,033 | 424,372 | |
Mortgage-backed securities, fair value | 285,428 | 425,161 | |
Available for sale, amortized cost | 759,185 | 830,546 | |
Available for sale, fair value | 724,463 | 842,570 | [1] |
Held to maturity debt securities, Due within one year | 250 | 250 | |
Held to maturity debt securities, Due within one year | 250 | 250 | |
Held to maturity debt securities, Due from one to five years | 385,593 | 49,663 | |
Held to maturity debt securities, Due from one to five years | 373,926 | 49,419 | |
Held to maturity debt securities, Due from five to ten years | 128,432 | 102,403 | |
Held to maturity debt securities, Due from five to ten years | 116,667 | 101,996 | |
Mortgage-backed securities, amortized cost | 551,480 | 310,641 | |
Mortgage-backed securities, fair value | 512,998 | 314,621 | |
Held to maturity, amortized cost | 1,065,755 | 462,957 | |
Held to maturity debt securities, fair value | $ 1,003,840 | $ 466,286 | [1] |
[1]derived from audited financial statements. |
Note 4 - Securities - Investmen
Note 4 - Securities - Investment Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Debt securities available for sale, less than twelve months, gross unrealized losses | $ (32,664) | $ (3,393) |
Debt securities available for sale, less than twelve months, fair value | 606,400 | 370,172 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (2,724) | (9) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 23,751 | 228 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (35,388) | (3,402) |
Debt Securities, Available for Sale, Fair Value | 630,151 | 370,400 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (58,333) | (1,950) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 971,794 | 258,372 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (3,639) | 0 |
U.S. Treasury Securities | 21,918 | 0 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (61,971) | (1,949) |
Debt Securities,Held To Maturity, Fair Value | 993,712 | 258,372 |
US Treasury Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (38) | |
Debt securities available for sale, less than twelve months, fair value | 5,966 | |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | 0 | |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 0 | |
Debt Securities, Available for Sale, Gross Unrealized Losses | (38) | |
Debt Securities, Available for Sale, Fair Value | 5,966 | |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (22,750) | (668) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 483,496 | 123,698 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | 0 | 0 |
U.S. Treasury Securities | 0 | 0 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (22,750) | (668) |
Debt Securities,Held To Maturity, Fair Value | 483,496 | 123,698 |
Collateralized Mortgage-Backed Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (20,147) | (2,685) |
Debt securities available for sale, less than twelve months, fair value | 261,595 | 303,297 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (2,501) | 0 |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 22,005 | 0 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (22,648) | (2,685) |
Debt Securities, Available for Sale, Fair Value | 283,600 | 303,297 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (34,900) | (1,271) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 481,201 | 134,192 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (3,639) | 0 |
U.S. Treasury Securities | 21,918 | 0 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (38,538) | (1,271) |
Debt Securities,Held To Maturity, Fair Value | 503,119 | 134,192 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (1,112) | (61) |
Debt securities available for sale, less than twelve months, fair value | 11,613 | 5,198 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (59) | (9) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 410 | 228 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (1,171) | (70) |
Debt Securities, Available for Sale, Fair Value | 12,023 | 5,426 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (683) | (10) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 7,097 | 482 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | 0 | 0 |
U.S. Treasury Securities | 0 | 0 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (683) | (10) |
Debt Securities,Held To Maturity, Fair Value | 7,097 | 482 |
Corporate Debt Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (11,366) | (647) |
Debt securities available for sale, less than twelve months, fair value | 327,226 | 61,677 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (165) | 0 |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 1,335 | 0 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (11,531) | (647) |
Debt Securities, Available for Sale, Fair Value | $ 328,561 | $ 61,677 |
Note 4 - Securities - Sales and
Note 4 - Securities - Sales and Calls of Debt Securities for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Sale and call proceeds | $ 33,425 | $ 6,272 | $ 75,036 | $ 6,272 |
Gross realized gains | 0 | 620 | 0 | 620 |
Gross realized losses | (2,833) | 0 | (6,168) | 0 |
Net realized gain (loss) | $ (2,833) | $ 620 | $ (6,168) | $ 620 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | May 28, 2021 USD ($) | |
Number of Loans Funded, Payroll Protection Plan | 7,400 | ||||||
Amount of Loans Funded, Payment Protection Plan | $ 1,500,000,000 | ||||||
Provision for Loan and Lease Losses | $ 9,507,000 | $ 9,652,000 | $ 14,869,000 | $ 17,103,000 | |||
Loans and Leases Receivable, Gross | 10,617,320,000 | 10,617,320,000 | $ 9,532,934,000 | ||||
Allowance for Loan and Lease Losses, Unfunded Commitments | $ 1,600,000 | 1,300,000 | |||||
Financing Receivable, Credit Loss, Expense (Reversal) | 9,507,000 | 9,652,000 | 14,869,000 | 17,103,000 | |||
Financing Receivable, Troubled Debt Restructuring | 2,400,000 | 2,900,000 | 2,400,000 | 2,900,000 | 2,600,000 | ||
Financing Receivable, Modifications, Recorded Investment, Accruing Interest | $ 421,000 | $ 441,000 | $ 421,000 | $ 441,000 | 431,000 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | |||
Paycheck Protection Program (PPP) Loans [Member] | |||||||
Financing Receivable, Unamortized Loan Cost (Fee) and Purchase Premium (Discount), Total | $ 513,000 | $ 513,000 | 7,200,000 | ||||
Provision for Loan and Lease Losses | 2,800,000 | $ 8,000,000 | 7,200,000 | $ 17,100,000 | |||
Loans and Leases Receivable, Gross | 23,000,000 | 23,000,000 | $ 595,000,000 | ||||
Unfunded Loan Commitment [Member] | |||||||
Financing Receivable, Credit Loss, Expense (Reversal) | $ 0 | $ 600,000 | $ 300,000 | $ 1,100,000 |
Note 5 - Loans - Summary of Loa
Note 5 - Loans - Summary of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Financing receivable, gross | $ 10,617,320 | $ 9,532,934 | ||||
Less: Allowance for credit losses | (128,387) | $ (119,463) | (116,660) | $ (104,670) | $ (94,906) | $ (87,942) |
Net Loans | $ 10,488,933 | $ 9,416,274 | ||||
Financing receivable, gross percentage | 100% | 100% | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing receivable, gross | $ 2,966,040 | $ 2,984,053 | ||||
Less: Allowance for credit losses | $ (41,610) | (41,417) | $ (41,869) | (42,433) | (38,232) | (36,370) |
Financing receivable, gross percentage | 27.94% | 31.30% | ||||
Real Estate Portfolio Segment[Member] | ||||||
Financing receivable, gross | $ 6,203,015 | $ 5,378,952 | ||||
Financing receivable, gross percentage | 58.42% | 56.42% | ||||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Financing receivable, gross | $ 1,383,155 | $ 1,103,076 | ||||
Less: Allowance for credit losses | $ (35,993) | (27,821) | $ (26,994) | (22,413) | (19,391) | (16,057) |
Financing receivable, gross percentage | 13.03% | 11.57% | ||||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Financing receivable, gross | $ 2,026,807 | $ 1,874,103 | ||||
Financing receivable, gross percentage | 19.09% | 19.66% | ||||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Financing receivable, gross | $ 1,015,698 | $ 826,765 | ||||
Financing receivable, gross percentage | 9.57% | 8.67% | ||||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Financing receivable, gross | $ 3,160,510 | $ 2,678,084 | ||||
Financing receivable, gross percentage | 29.77% | 28.10% | ||||
Consumer Portfolio Segment [Member] | ||||||
Financing receivable, gross | $ 65,110 | $ 66,853 | ||||
Less: Allowance for credit losses | $ (1,992) | $ (1,677) | $ (1,968) | $ (1,294) | $ (1,676) | $ (1,793) |
Financing receivable, gross percentage | 0.61% | 0.70% |
Note 5 - Loans - Loans by Credi
Note 5 - Loans - Loans by Credit Quality Indicators, Loans Type and Year of Origination (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Originated in current year | $ 1,349,603 | $ 3,004,976 |
Originated in one year before | 2,760,524 | 1,514,502 |
Originated in two years before | 1,272,138 | 1,054,552 |
Originated in three years before | 833,596 | 563,576 |
Originated in four years before | 481,442 | 616,497 |
Originated prior | 1,448,360 | 993,736 |
Revolving Loans | 2,471,657 | 1,785,095 |
Loans and Leases Receivable, Gross | 10,617,320 | 9,532,934 |
Commercial Real Estate Portfolio Segment [Member] | ||
Originated in current year | 295,284 | 802,067 |
Originated in one year before | 678,410 | 296,551 |
Originated in two years before | 259,029 | 220,067 |
Originated in three years before | 241,135 | 133,166 |
Originated in four years before | 168,734 | 117,286 |
Originated prior | 522,666 | 136,322 |
Revolving Loans | 800,782 | 1,278,594 |
Loans and Leases Receivable, Gross | 2,966,040 | 2,984,053 |
Real Estate Portfolio Segment[Member] | ||
Loans and Leases Receivable, Gross | 6,203,015 | 5,378,952 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Originated in current year | 240,446 | 597,497 |
Originated in one year before | 600,567 | 260,723 |
Originated in two years before | 226,083 | 117,265 |
Originated in three years before | 17,895 | 18,952 |
Originated in four years before | 9,871 | 13,704 |
Originated prior | 30,373 | 18,273 |
Revolving Loans | 257,920 | 76,662 |
Loans and Leases Receivable, Gross | 1,383,155 | 1,103,076 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Originated in current year | 174,465 | 406,574 |
Originated in one year before | 428,367 | |
Originated in two years before | 257,264 | 233,614 |
Originated in three years before | 161,977 | 183,591 |
Originated in four years before | 149,302 | 163,124 |
Originated prior | 393,411 | 437,698 |
Revolving Loans | 462,022 | 96,860 |
Loans and Leases Receivable, Gross | 2,026,807 | 1,874,103 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Originated in current year | 210,245 | 299,686 |
Originated in one year before | 247,595 | 118,729 |
Originated in two years before | 77,308 | 69,154 |
Originated in three years before | 40,416 | 47,311 |
Originated in four years before | 24,584 | 37,865 |
Originated prior | 77,261 | 39,493 |
Revolving Loans | 338,289 | 214,527 |
Loans and Leases Receivable, Gross | 1,015,698 | 826,765 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Originated in current year | 423,306 | 882,849 |
Originated in one year before | 798,502 | 481,012 |
Originated in two years before | 449,472 | 411,556 |
Originated in three years before | 370,312 | 179,573 |
Originated in four years before | 128,549 | 283,615 |
Originated prior | 402,095 | 358,277 |
Revolving Loans | 588,274 | 81,202 |
Loans and Leases Receivable, Gross | 3,160,510 | 2,678,084 |
Consumer Portfolio Segment [Member] | ||
Originated in current year | 5,857 | 16,303 |
Originated in two years before | 2,982 | 2,896 |
Originated in three years before | 1,862 | 983 |
Originated in four years before | 402 | 903 |
Originated prior | 22,554 | 3,673 |
Revolving Loans | 24,370 | 37,250 |
Loans and Leases Receivable, Gross | 65,110 | 66,853 |
Pass [Member] | ||
Originated in current year | 1,346,610 | 3,003,630 |
Originated in one year before | 2,750,679 | 1,511,642 |
Originated in two years before | 1,269,615 | 1,033,320 |
Originated in three years before | 817,343 | 552,480 |
Originated in four years before | 470,970 | 602,054 |
Originated prior | 1,426,985 | 970,806 |
Revolving Loans | 2,393,868 | 1,718,465 |
Loans and Leases Receivable, Gross | 10,478,928 | 9,392,397 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated in current year | 295,183 | 800,822 |
Originated in one year before | 671,693 | 294,841 |
Originated in two years before | 257,345 | 209,086 |
Originated in three years before | 227,787 | 130,579 |
Originated in four years before | 164,947 | 114,870 |
Originated prior | 514,106 | 127,572 |
Revolving Loans | 748,747 | 1,216,153 |
Loans and Leases Receivable, Gross | 2,880,087 | 2,893,923 |
Pass [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Originated in current year | 237,946 | 597,497 |
Originated in one year before | 600,567 | 260,723 |
Originated in two years before | 226,083 | 110,671 |
Originated in three years before | 17,895 | 16,452 |
Originated in four years before | 8,644 | 13,704 |
Originated prior | 29,479 | 17,356 |
Revolving Loans | 257,920 | 76,662 |
Loans and Leases Receivable, Gross | 1,378,534 | 1,093,065 |
Pass [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Originated in current year | 174,174 | 406,473 |
Originated in one year before | 426,742 | 352,642 |
Originated in two years before | 257,264 | 231,197 |
Originated in three years before | 159,595 | 182,812 |
Originated in four years before | 148,669 | 162,648 |
Originated prior | 386,045 | 430,638 |
Revolving Loans | 455,962 | 96,860 |
Loans and Leases Receivable, Gross | 2,010,500 | 1,863,270 |
Pass [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Originated in current year | 210,144 | 299,686 |
Originated in one year before | 246,092 | 117,579 |
Originated in two years before | 76,469 | 68,044 |
Originated in three years before | 40,022 | 46,954 |
Originated in four years before | 24,584 | 37,374 |
Originated prior | 76,334 | 37,970 |
Revolving Loans | 333,600 | 210,338 |
Loans and Leases Receivable, Gross | 1,007,245 | 817,945 |
Pass [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Originated in current year | 423,306 | 882,849 |
Originated in one year before | 798,502 | 481,012 |
Originated in two years before | 449,472 | 411,426 |
Originated in three years before | 370,182 | 174,700 |
Originated in four years before | 123,724 | 272,555 |
Originated prior | 398,486 | 353,621 |
Revolving Loans | 573,799 | 81,202 |
Loans and Leases Receivable, Gross | 3,137,471 | 2,657,365 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Originated in current year | 5,857 | 16,303 |
Originated in one year before | 7,083 | 4,845 |
Originated in two years before | 2,982 | 2,896 |
Originated in three years before | 1,862 | 983 |
Originated in four years before | 402 | 903 |
Originated prior | 22,535 | 3,649 |
Revolving Loans | 24,370 | 37,250 |
Loans and Leases Receivable, Gross | 65,091 | 66,829 |
Special Mention [Member] | ||
Originated in current year | 2,992 | 1,346 |
Originated in one year before | 9,845 | 2,323 |
Originated in two years before | 2,115 | 10,600 |
Originated in three years before | 4,950 | 4,617 |
Originated in four years before | 4,453 | 4,371 |
Originated prior | 14,629 | 9,981 |
Revolving Loans | 32,967 | 22,834 |
Loans and Leases Receivable, Gross | 71,951 | 56,072 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated in current year | 100 | 1,245 |
Originated in one year before | 6,717 | 1,323 |
Originated in two years before | 1,276 | 942 |
Originated in three years before | 2,277 | 846 |
Originated in four years before | 3,444 | 915 |
Originated prior | 4,950 | 784 |
Revolving Loans | 21,344 | 19,801 |
Loans and Leases Receivable, Gross | 40,108 | 25,856 |
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Originated in current year | 2,500 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 6,594 |
Originated in three years before | 0 | 2,500 |
Originated in four years before | 0 | 0 |
Originated prior | 894 | 917 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 3,394 | 10,011 |
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Originated in current year | 291 | 101 |
Originated in one year before | 1,625 | 0 |
Originated in two years before | 0 | 2,417 |
Originated in three years before | 2,382 | 779 |
Originated in four years before | 633 | 476 |
Originated prior | 5,500 | 2,688 |
Revolving Loans | 1,777 | 0 |
Loans and Leases Receivable, Gross | 12,208 | 6,461 |
Special Mention [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Originated in current year | 101 | 0 |
Originated in one year before | 1,503 | 1,000 |
Originated in two years before | 839 | 517 |
Originated in three years before | 161 | 116 |
Originated in four years before | 0 | 260 |
Originated prior | 585 | 912 |
Revolving Loans | 2,695 | 3,033 |
Loans and Leases Receivable, Gross | 5,884 | 5,838 |
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 130 |
Originated in three years before | 130 | 376 |
Originated in four years before | 376 | 2,720 |
Originated prior | 2,681 | 4,656 |
Revolving Loans | 7,151 | 0 |
Loans and Leases Receivable, Gross | 10,338 | 7,882 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 19 | 24 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 19 | 24 |
Substandard [Member] | ||
Originated in current year | 1 | 0 |
Originated in one year before | 0 | 537 |
Originated in two years before | 408 | 10,632 |
Originated in three years before | 11,303 | 6,479 |
Originated in four years before | 6,019 | 10,072 |
Originated prior | 6,746 | 12,949 |
Revolving Loans | 44,940 | 43,796 |
Loans and Leases Receivable, Gross | 66,441 | 84,465 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated in current year | 1 | 0 |
Originated in one year before | 0 | 387 |
Originated in two years before | 408 | 10,039 |
Originated in three years before | 11,071 | 1,741 |
Originated in four years before | 343 | 1,501 |
Originated prior | 3,610 | 7,966 |
Revolving Loans | 30,691 | 42,640 |
Loans and Leases Receivable, Gross | 45,845 | 64,274 |
Substandard [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 1,227 | 0 |
Originated prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 1,227 | 0 |
Substandard [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 1,866 | 4,372 |
Revolving Loans | 4,283 | 0 |
Loans and Leases Receivable, Gross | 4,099 | 4,372 |
Substandard [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 150 |
Originated in two years before | 0 | 593 |
Originated in three years before | 233 | 241 |
Originated in four years before | 0 | 231 |
Originated prior | 342 | 611 |
Revolving Loans | 1,994 | 1,156 |
Loans and Leases Receivable, Gross | 2,569 | 2,982 |
Substandard [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 4,497 |
Originated in four years before | 4,449 | 8,340 |
Originated prior | 928 | 0 |
Revolving Loans | 7,324 | 0 |
Loans and Leases Receivable, Gross | 12,701 | 12,837 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 0 | 0 |
Doubtful [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 0 | 0 |
Doubtful [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 0 | 0 |
Doubtful [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 0 | 0 |
Doubtful [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 0 | 0 |
Doubtful [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Originated in current year | 0 | 0 |
Originated in one year before | 0 | 0 |
Originated in two years before | 0 | 0 |
Originated in three years before | 0 | 0 |
Originated in four years before | 0 | 0 |
Originated prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans and Leases Receivable, Gross | $ 0 | $ 0 |
Note 5 - Loans - Loans by Perfo
Note 5 - Loans - Loans by Performance Status (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Loans and Leases Receivable, Gross | $ 10,617,320 | $ 9,532,934 |
Performing Financial Instruments [Member] | ||
Loans and Leases Receivable, Gross | 10,601,789 | 9,520,837 |
Nonperforming Financial Instruments [Member] | ||
Loans and Leases Receivable, Gross | 15,531 | 12,097 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 2,966,040 | 2,984,053 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans and Leases Receivable, Gross | 2,960,589 | 2,979,671 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans and Leases Receivable, Gross | 5,451 | 4,382 |
Real Estate Portfolio Segment[Member] | ||
Loans and Leases Receivable, Gross | 6,203,015 | 5,378,952 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 1,383,155 | 1,103,076 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Loans and Leases Receivable, Gross | 2,026,807 | 1,874,103 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Loans and Leases Receivable, Gross | 1,015,698 | 826,765 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Loans and Leases Receivable, Gross | 3,160,510 | 2,678,084 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | ||
Loans and Leases Receivable, Gross | 6,192,957 | 5,371,266 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 1,383,155 | 1,103,076 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Loans and Leases Receivable, Gross | 2,023,628 | 1,873,082 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||
Loans and Leases Receivable, Gross | 1,014,336 | 824,756 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||
Loans and Leases Receivable, Gross | 3,154,993 | 2,673,428 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | ||
Loans and Leases Receivable, Gross | 10,058 | 7,686 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Loans and Leases Receivable, Gross | 3,179 | 1,021 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||
Loans and Leases Receivable, Gross | 1,362 | 2,009 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||
Loans and Leases Receivable, Gross | 5,517 | 4,656 |
Consumer Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 65,110 | 66,853 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans and Leases Receivable, Gross | 65,088 | 66,824 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans and Leases Receivable, Gross | $ 22 | $ 29 |
Note 5 - Loans - Loans Categori
Note 5 - Loans - Loans Categorized by Past Due Status (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Loans and Leases Receivable, Gross | $ 10,617,320 | $ 9,532,934 |
Non-accrual | 10,540 | 6,762 |
Nonaccrual With No ACL | 8,212 | 3,563 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 3,641 | 752 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 2,244 | 803 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 4,991 | 5,335 |
Financial Asset, Past Due [Member] | ||
Loans and Leases Receivable, Gross | 10,876 | 6,890 |
Financial Asset, Not Past Due [Member] | ||
Loans and Leases Receivable, Gross | 10,595,904 | 9,519,282 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 2,966,040 | 2,984,053 |
Non-accrual | 5,202 | 4,343 |
Nonaccrual With No ACL | 2,595 | 2,059 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 2,810 | 516 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 885 | 77 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 249 | 39 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans and Leases Receivable, Gross | 3,944 | 632 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans and Leases Receivable, Gross | 2,956,894 | 2,979,078 |
Real Estate Portfolio Segment[Member] | ||
Loans and Leases Receivable, Gross | 6,203,015 | 5,378,952 |
Non-accrual | 5,338 | 2,419 |
Nonaccrual With No ACL | 5,617 | 1,504 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 1,383,155 | 1,103,076 |
Non-accrual | 0 | 0 |
Nonaccrual With No ACL | 0 | 0 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Loans and Leases Receivable, Gross | 2,026,807 | 1,874,103 |
Non-accrual | 3,179 | 1,021 |
Nonaccrual With No ACL | 5,515 | 1,021 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Loans and Leases Receivable, Gross | 1,015,698 | 826,765 |
Non-accrual | 1,228 | 1,398 |
Nonaccrual With No ACL | 102 | 483 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Loans and Leases Receivable, Gross | 3,160,510 | 2,678,084 |
Non-accrual | 931 | 0 |
Nonaccrual With No ACL | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 778 | 143 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Loans and Leases Receivable, Gross | 0 | 143 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One to Four Family [Member] | ||
Loans and Leases Receivable, Gross | 402 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other Mortgages [Member] | ||
Loans and Leases Receivable, Gross | 376 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 1,332 | 703 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One to Four Family [Member] | ||
Loans and Leases Receivable, Gross | 1,332 | 703 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other Mortgages [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 4,720 | 5,267 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | One to Four Family [Member] | ||
Loans and Leases Receivable, Gross | 134 | 611 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Mortgages [Member] | ||
Loans and Leases Receivable, Gross | 4,586 | 4,656 |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | ||
Loans and Leases Receivable, Gross | 6,830 | 6,113 |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Owner Occupied Commercial [Member] | ||
Loans and Leases Receivable, Gross | 0 | 143 |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | One to Four Family [Member] | ||
Loans and Leases Receivable, Gross | 1,868 | 1,314 |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Other Mortgages [Member] | ||
Loans and Leases Receivable, Gross | 4,962 | 4,656 |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | ||
Loans and Leases Receivable, Gross | 6,190,847 | 5,370,420 |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 1,383,155 | 1,103,076 |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Owner Occupied Commercial [Member] | ||
Loans and Leases Receivable, Gross | 2,023,628 | 1,872,939 |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | One to Four Family [Member] | ||
Loans and Leases Receivable, Gross | 1,012,602 | 824,053 |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Other Mortgages [Member] | ||
Loans and Leases Receivable, Gross | 3,154,617 | 2,673,428 |
Consumer Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 65,110 | 66,853 |
Non-accrual | 0 | 0 |
Nonaccrual With No ACL | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 53 | 93 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 27 | 23 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans and Leases Receivable, Gross | 22 | 29 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans and Leases Receivable, Gross | 102 | 145 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans and Leases Receivable, Gross | $ 65,008 | $ 66,708 |
Note 5 - Loans - Analysis of Al
Note 5 - Loans - Analysis of Allowance for Loans Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Balance | $ 119,463 | $ 94,906 | $ 116,660 | $ 87,942 |
Charge-offs | (1,813) | (263) | (4,489) | (839) |
Recoveries | 1,230 | 375 | 1,347 | 464 |
Provision | 9,507 | 9,652 | 14,869 | 17,103 |
Balance | 128,387 | 104,670 | 128,387 | 104,670 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 41,417 | 38,232 | 41,869 | 36,370 |
Charge-offs | (1,666) | (150) | (4,240) | (627) |
Recoveries | 1,217 | 298 | 1,322 | 324 |
Provision | 642 | 4,053 | 2,659 | 6,366 |
Balance | 41,610 | 42,433 | 41,610 | 42,433 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Balance | 27,821 | 19,391 | 26,994 | 16,057 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 2 | 0 | 52 |
Provision | 8,172 | 3,020 | 8,999 | 6,304 |
Balance | 35,993 | 22,413 | 35,993 | 22,413 |
Real Estate Portfolio Segment[Member] | Real Estate Loan [Member] | ||||
Balance | 48,548 | 35,607 | 45,829 | 33,722 |
Charge-offs | (23) | (59) | (51) | (71) |
Recoveries | 0 | 62 | 0 | 64 |
Provision | 268 | 2,920 | 3,014 | 4,815 |
Balance | 48,793 | 38,530 | 48,793 | 38,530 |
Consumer Portfolio Segment [Member] | ||||
Balance | 1,677 | 1,676 | 1,968 | 1,793 |
Charge-offs | (124) | (54) | (199) | (141) |
Recoveries | 13 | 13 | 25 | 24 |
Provision | 426 | (341) | 198 | (382) |
Balance | $ 1,992 | $ 1,294 | $ 1,992 | $ 1,294 |
Note 5 - Loans - Summary of Col
Note 5 - Loans - Summary of Collateral Types (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Financing receivable, gross | $ 10,617,320 | $ 9,532,934 | ||||
Allowance for credit losses | 128,387 | $ 119,463 | 116,660 | $ 104,670 | $ 94,906 | $ 87,942 |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing receivable, gross | 2,966,040 | 2,984,053 | ||||
Allowance for credit losses | 41,610 | 41,417 | 41,869 | 42,433 | 38,232 | 36,370 |
Real Estate Portfolio Segment[Member] | ||||||
Financing receivable, gross | 6,203,015 | 5,378,952 | ||||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Financing receivable, gross | 1,383,155 | 1,103,076 | ||||
Allowance for credit losses | 35,993 | 27,821 | 26,994 | 22,413 | 19,391 | 16,057 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Financing receivable, gross | 2,026,807 | 1,874,103 | ||||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Financing receivable, gross | 1,015,698 | 826,765 | ||||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Financing receivable, gross | 3,160,510 | 2,678,084 | ||||
Consumer Portfolio Segment [Member] | ||||||
Financing receivable, gross | 65,110 | 66,853 | ||||
Allowance for credit losses | 1,992 | $ 1,677 | 1,968 | $ 1,294 | $ 1,676 | $ 1,793 |
Real Estate [Member] | ||||||
Financing receivable, gross | 32,360 | 33,258 | ||||
Real Estate [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing receivable, gross | 12,330 | 13,067 | ||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | ||||||
Financing receivable, gross | 20,030 | 20,191 | ||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Financing receivable, gross | 4,100 | 4,372 | ||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Financing receivable, gross | 3,226 | 2,982 | ||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Financing receivable, gross | 12,704 | 12,837 | ||||
Real Estate [Member] | Consumer Portfolio Segment [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Accounts Receivable [Member] | ||||||
Financing receivable, gross | 5,174 | 5,075 | ||||
Collateral, Accounts Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing receivable, gross | 5,174 | 5,075 | ||||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Accounts Receivable [Member] | Consumer Portfolio Segment [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Equipment [Member] | ||||||
Financing receivable, gross | 3,246 | 18,533 | ||||
Equipment [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing receivable, gross | 3,246 | 18,533 | ||||
Equipment [Member] | Real Estate Portfolio Segment[Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Equipment [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Equipment [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Equipment [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Equipment [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Equipment [Member] | Consumer Portfolio Segment [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Other [Member] | ||||||
Financing receivable, gross | 26,321 | 27,599 | ||||
Collateral, Other [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing receivable, gross | 25,094 | 27,599 | ||||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Financing receivable, gross | 1,227 | 0 | ||||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral, Other [Member] | Consumer Portfolio Segment [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Collateral Pledged [Member] | ||||||
Financing receivable, gross | 67,101 | 84,465 | ||||
Allowance for credit losses | 10,428 | 11,292 | ||||
Collateral Pledged [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing receivable, gross | 45,844 | 64,274 | ||||
Allowance for credit losses | 8,264 | 9,727 | ||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | ||||||
Financing receivable, gross | 20,030 | 20,191 | ||||
Allowance for credit losses | 2,068 | 1,565 | ||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Financing receivable, gross | 1,227 | 0 | ||||
Allowance for credit losses | 96 | 0 | ||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Financing receivable, gross | 4,100 | 4,372 | ||||
Allowance for credit losses | 1,837 | 1,371 | ||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Financing receivable, gross | 3,226 | 2,982 | ||||
Allowance for credit losses | 231 | 163 | ||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Financing receivable, gross | 12,704 | 12,837 | ||||
Allowance for credit losses | 0 | 31 | ||||
Collateral Pledged [Member] | Consumer Portfolio Segment [Member] | ||||||
Financing receivable, gross | 0 | 0 | ||||
Allowance for credit losses | $ 0 | $ 0 |
Note 5 - Loans - Troubled Debt
Note 5 - Loans - Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | |
Number of Contracts | 3 | 3 |
Pre- Modification Outstanding Recorded Investment | $ 2,146 | $ 2,146 |
Post- Modification Outstanding Recorded Investment | $ 2,146 | $ 2,146 |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of Contracts | 2 | 2 |
Pre- Modification Outstanding Recorded Investment | $ 1,155 | $ 1,155 |
Post- Modification Outstanding Recorded Investment | $ 1,155 | $ 1,155 |
Real Estate Portfolio Segment[Member] | ||
Number of Contracts | 1 | 1 |
Pre- Modification Outstanding Recorded Investment | $ 991 | $ 991 |
Post- Modification Outstanding Recorded Investment | $ 991 | $ 991 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Number of Contracts | 1 | 1 |
Pre- Modification Outstanding Recorded Investment | $ 991 | $ 991 |
Post- Modification Outstanding Recorded Investment | $ 991 | $ 991 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 9 years 4 months 24 days | 9 years 4 months 24 days | |||
Operating Lease, Right-of-Use Asset | $ 16,300,000 | $ 16,300,000 | $ 17,900,000 | ||
Operating Lease, Liability, Total | $ 17,000,000 | $ 17,000,000 | $ 18,500,000 | ||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 6 years 6 months | 6 years 6 months | |||
Operating Lease, Weighted Average Discount Rate, Percent | 2.39% | 2.39% | |||
Operating Lease, Payments | $ 1,100,000 | $ 829,000 | $ 2,100,000 | $ 1,600,000 |
Note 6 - Leases - Maturities of
Note 6 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
2022 (remaining) | $ 2,086 | |
2023 | 3,598 | |
2024 | 2,626 | |
2025 | 2,500 | |
2026 | 1,929 | |
thereafter | 5,511 | |
Total lease payments | 18,250 | |
Less: imputed interest | (1,298) | |
Present value of operating lease liabilities | 17,000 | $ 18,500 |
Other Liabilities [Member] | ||
Present value of operating lease liabilities | $ 16,952 |
Note 6 - Leases - Lease Costs (
Note 6 - Leases - Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Operating lease cost | $ 1,051 | $ 1,011 | $ 2,095 | $ 1,911 |
Short-term lease cost | 17 | 0 | 25 | 0 |
Variable lease cost | 151 | 140 | 300 | 212 |
Sublease income | (5) | (24) | (29) | (47) |
Net lease cost | $ 1,214 | $ 1,127 | $ 2,391 | $ 2,076 |
Note 7 - Employee and Directo_3
Note 7 - Employee and Director Benefits (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Share-Based Payment Arrangement, Expense | $ 797,000 | $ 558,000 | $ 1,600,000 | $ 849,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 500 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 12.73 | |||
Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 296,000 | $ 296,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 6 days | |||
Restricted Stock [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 5,300,000 | $ 5,300,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 3 months 18 days | |||
Performance Shares [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 809,000 | $ 809,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||
Performance Shares [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Vested Upon Certain Performance Metrics, Percentage | 0% | |||
Performance Shares [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Vested Upon Certain Performance Metrics, Percentage | 150% | |||
The 2009 Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 5,550,000 | 5,550,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years |
Note 7 - Employee and Directo_4
Note 7 - Employee and Director Benefits - Assumptions Used to Estimate Fair Value of Stock Option Awards (Details) - Share-Based Payment Arrangement, Option [Member] | 6 Months Ended |
Jun. 30, 2022 | |
Expected volatility | 40% |
Expected dividends | 1.78% |
Expected term (Year) | 7 years 6 months |
Risk-free rate | 2.43% |
Note 7 - Employee and Directo_5
Note 7 - Employee and Director Benefits - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Granted, shares (in shares) | 0 | 500 | ||
Granted, weighted average exercise price (in dollars per share) | $ 32.60 | |||
Granted, weighted average remaining contractual term (Year) | 8 years | |||
Granted, aggregate intrinsic value | $ 18 | |||
Share-Based Payment Arrangement, Option [Member] | ||||
Outstanding, shares (in shares) | 353,250 | 640,950 | 640,950 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 19.28 | $ 18.14 | $ 18.14 | |
Outstanding, weighted average remaining contractual term (Year) | 3 years 4 months 24 days | 4 years 4 months 24 days | 3 years 9 months 18 days | 4 years 7 months 6 days |
Outstanding, aggregate intrinsic value | $ 18,431 | $ 22,121 | $ 23,525 | $ 16,981 |
Exercised, shares (in shares) | (48,000) | (197,200) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 17.85 | $ 10.31 | ||
Exercised, weighted average remaining contractual term (Year) | 2 years 9 months 18 days | 3 years 1 month 6 days | ||
Exercised, aggregate intrinsic value | $ 2,931 | $ 11,574 | ||
Outstanding, shares (in shares) | 305,250 | 438,250 | 353,250 | 640,950 |
Outstanding, weighted average exercise price (in dollars per share) | $ 19.51 | $ 19.68 | $ 19.28 | $ 18.14 |
Exercisable, shares (in shares) | 243,500 | 337,000 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 14.77 | $ 13.84 | ||
Exercisable, weighted average remaining contractual term (Year) | 2 years 6 months | 3 years 6 months | ||
Exercisable, aggregate intrinsic value | $ 15,924 | $ 18,841 | ||
Forfeited, shares (in shares) | (6,000) | |||
Forfeited, weighted average exercise price (in dollars per share) | $ 5.82 | |||
Forfeited, weighted average remaining contractual term (Year) | 8 months 12 days | |||
Forfeited, aggregate intrinsic value | $ 106 |
Note 7 - Employee and Directo_6
Note 7 - Employee and Director Benefits - Summary of Restricted Stock and Performance Shares Activity (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Restricted Stock [Member] | ||
Non-vested, shares (in shares) | 127,602 | 84,307 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 42.27 | $ 34.92 |
Granted, shares (in shares) | 46,266 | 64,199 |
Granted, weighted average grant date fair value (in dollars per share) | $ 83.06 | $ 46.37 |
Vested, shares (in shares) | (23,507) | (11,778) |
Vested, weighted average grant date fair value (in dollars per share) | $ 44.85 | $ 27.99 |
Forfeited, shares (in shares) | (3,498) | (6,975) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 53.25 | $ 38.81 |
Non-vested, shares (in shares) | 146,863 | 129,753 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 54.45 | $ 41.01 |
Performance Shares [Member] | ||
Non-vested, shares (in shares) | 12,437 | 0 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 37.05 | $ 0 |
Granted, shares (in shares) | 9,165 | 12,437 |
Granted, weighted average grant date fair value (in dollars per share) | $ 69.68 | $ 37.05 |
Vested, shares (in shares) | 0 | 0 |
Vested, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 |
Forfeited, shares (in shares) | 0 | 0 |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 |
Non-vested, shares (in shares) | 21,602 | 12,437 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 50.89 | $ 37.05 |
Note 8 - Derivatives (Details T
Note 8 - Derivatives (Details Textual) - Interest Rate Cap [Member] - USD ($) $ in Millions | 1 Months Ended | 6 Months Ended |
May 31, 2020 | Jun. 30, 2022 | |
Derivative, Term of Contract (Year) | 3 years | |
Derivative, Notional Amount | $ 300 | |
Derivative, Fair Value, Net, Total | $ 6.5 | |
Derivative, Remaining Maturity (Year) | 9 months 18 days | |
London Interbank Offered Rate (LIBOR) [Member] | ||
Derivative, Cap Interest Rate | 0.50% |
Note 11 - Fair Value Measurem_3
Note 11 - Fair Value Measurement (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | ||
Asset Impairment Charges, Total | $ 1,200,000 | $ 1,400,000 | $ 1,800,000 | $ 3,300,000 | ||
Real Estate Owned, Amount of Loss at Acquisition | 125,000 | $ 540,000 | 119,000 | $ 697,000 | ||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure | 60,000 | $ 50,000 | ||||
Mortgage Loans in Process of Foreclosure, Amount | 212,000 | 212,000 | 299,000 | |||
Liabilities, Total | 13,282,399,000 | 13,282,399,000 | 14,296,791,000 | [1] | ||
Fair Value, Recurring [Member] | ||||||
Liabilities, Total | 0 | 0 | 0 | |||
Fair Value, Nonrecurring [Member] | ||||||
Liabilities, Total | $ 0 | $ 0 | $ 0 | |||
Minimum [Member] | ||||||
Impaired Loans, Fair Value Adjustment, Percent | 0% | 0% | 0% | |||
Real Estate Owned, Fair Value Adjustment, Percent | 10% | 10% | 0% | |||
Maximum [Member] | ||||||
Impaired Loans, Fair Value Adjustment, Percent | 75% | 75% | 75% | |||
Real Estate Owned, Fair Value Adjustment, Percent | 100% | 100% | 100% | |||
Weighted Average [Member] | ||||||
Impaired Loans, Fair Value Adjustment, Percent | 21.20% | 21.20% | 24.10% | |||
Real Estate Owned, Fair Value Adjustment, Percent | 57% | 57% | 40.60% | |||
[1]derived from audited financial statements. |
Note 11 - Fair Value Measurem_4
Note 11 - Fair Value Measurement - Financial Assets and Financial Liabilities Carried at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | |
Available for sale, fair value | $ 724,463 | $ 842,570 | [1] |
US Treasury Securities [Member] | |||
Available for sale, fair value | 5,966 | 9,104 | |
US Government Agencies Debt Securities [Member] | |||
Available for sale, fair value | 14 | 6,041 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 285,428 | 425,161 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 16,280 | 21,634 | |
Corporate Debt Securities [Member] | |||
Available for sale, fair value | 416,775 | 380,630 | |
Fair Value, Recurring [Member] | |||
Available for sale, fair value | 724,463 | 842,570 | |
Total assets at fair value | 730,909 | 843,722 | |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | |||
Interest rate cap derivative | 6,446 | 1,152 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available for sale, fair value | 5,966 | 9,104 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Available for sale, fair value | 14 | 6,041 | |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 285,428 | 425,161 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 16,280 | 21,634 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | 416,775 | 380,630 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | |||
Available for sale, fair value | 5,966 | 9,104 | |
Total assets at fair value | 5,966 | 9,104 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member] | |||
Interest rate cap derivative | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available for sale, fair value | 5,966 | 9,104 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Available for sale, fair value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | |||
Available for sale, fair value | 712,497 | 816,474 | |
Total assets at fair value | 718,943 | 817,626 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member] | |||
Interest rate cap derivative | 6,446 | 1,152 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available for sale, fair value | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Available for sale, fair value | 14 | 6,041 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 285,428 | 425,161 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 16,280 | 21,634 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | 410,775 | 363,638 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | |||
Available for sale, fair value | 6,000 | 16,992 | |
Total assets at fair value | 6,000 | 16,992 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member] | |||
Interest rate cap derivative | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available for sale, fair value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Available for sale, fair value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | $ 6,000 | $ 16,992 | |
[1]derived from audited financial statements. |
Note 11 - Fair Value Measurem_5
Note 11 - Fair Value Measurement - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Loans individually evaluated | $ 56,673 | $ 73,173 |
Other real estate owned and repossessed assets | 1,207 | 1,208 |
Total assets at fair value | 57,880 | 74,381 |
Fair Value, Inputs, Level 1 [Member] | ||
Loans individually evaluated | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Loans individually evaluated | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Loans individually evaluated | 56,673 | 73,173 |
Other real estate owned and repossessed assets | 1,207 | 1,208 |
Total assets at fair value | $ 57,880 | $ 74,381 |
Note 11 - Fair Value Measurem_6
Note 11 - Fair Value Measurement - Level 3 of Valuation Hierarchy Measured at Fair Value (Details) - Debt Security, Corporate, US [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Fair value, beginning of period | $ 11,500 | $ 10,301 | $ 16,992 | $ 0 |
Transfers into Level 3 | 0 | 0 | 0 | 6,000 |
Total realized gains included in income | 0 | 0 | 0 | 0 |
Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end | (462) | 193 | (805) | 494 |
Purchases | 0 | 8,500 | 0 | 12,500 |
Transfers out of Level 3 | (5,038) | (4,000) | (10,187) | (4,000) |
Fair value, end of period | $ 6,000 | $ 14,994 | $ 6,000 | $ 14,994 |
Note 11 - Fair Value Measurem_7
Note 11 - Fair Value Measurement - Financial Assets and Liabilities Carried at Fair Value on Recurring Basis or Nonrecurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | |
Cash and due from banks | $ 252,638 | $ 56,934 | [1] |
Federal funds sold | 101,447 | 58,372 | [1] |
Held to maturity debt securities, fair value | 1,003,840 | 466,286 | [1] |
Mortgage loans held for sale | 3,451 | 1,114 | [1] |
Loans, net | 10,488,933 | 9,416,274 | [1] |
Federal funds purchased | 1,389,167 | 1,711,777 | [1] |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Cash and due from banks | 1,587,149 | 4,163,724 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 1,587,149 | 4,163,724 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Federal funds sold | 101,447 | 58,372 | |
Held to maturity debt securities, fair value | 1,065,505 | 462,707 | |
Mortgage loans held for sale | 3,451 | 1,114 | |
Deposits | 11,772,337 | 12,452,836 | |
Federal funds purchased | 1,389,167 | 1,711,777 | |
Other borrowings | 64,716 | 64,706 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Federal funds sold | 101,447 | 58,372 | |
Held to maturity debt securities, fair value | 1,003,590 | 466,036 | |
Mortgage loans held for sale | 3,390 | 1,111 | |
Deposits | 11,777,719 | 12,454,140 | |
Federal funds purchased | 1,389,167 | 1,711,777 | |
Other borrowings | 65,457 | 65,476 | |
Fair Value, Inputs, Level 3 [Member] | |||
Held to maturity debt securities, fair value | 250 | 250 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Loans, net | 10,432,260 | 9,416,274 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Loans, net | $ 10,432,260 | $ 9,403,012 | |
[1]derived from audited financial statements. |