Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2023 | Apr. 28, 2023 | |
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 | Q1 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
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 $.001 per share | |
Trading Symbol | SFBS | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 54,282,132 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | |
ASSETS | |||
Cash and due from banks | $ 139,175 | $ 106,317 | [1] |
Interest-bearing balances due from depository institutions | 725,318 | 708,221 | [1] |
Federal funds sold | 6,478 | 1,515 | [1] |
Cash and cash equivalents | 870,971 | 816,053 | [1] |
Available for sale debt securities, at fair value | 624,948 | 644,815 | [1] |
Held to maturity, amortized cost | 1,021,989 | 1,034,121 | [1] |
Restricted equity securities | 7,307 | 7,734 | [1] |
Mortgage loans held for sale | 1,651 | 1,607 | [1] |
Loans | 11,629,802 | 11,687,968 | [1] |
Less allowance for credit losses | (148,965) | (146,297) | [1] |
Net Loans | 11,480,837 | 11,541,671 | [1] |
Premises and equipment, net | 60,093 | 59,850 | [1] |
Accrued interest and dividends receivable | 50,500 | 48,422 | [1] |
Deferred tax asset, net | 60,666 | 60,448 | [1] |
Other real estate owned and repossessed assets | 248 | 248 | [1] |
Bank owned life insurance contracts | 289,374 | 287,752 | [1] |
Goodwill and other identifiable intangible assets | 13,615 | 13,615 | [1] |
Other assets | 84,360 | 79,417 | [1] |
Total assets | 14,566,559 | 14,595,753 | [1] |
Liabilities: | |||
Noninterest-bearing | 2,898,736 | 3,321,347 | [1] |
Interest-bearing | 8,716,581 | 8,225,458 | [1] |
Total deposits | 11,615,317 | 11,546,805 | [1] |
Federal funds purchased | 1,480,160 | 1,618,798 | [1] |
Other borrowings | 65,417 | 64,726 | [1] |
Accrued interest payable | 20,541 | 18,615 | [1] |
Other liabilities | 45,307 | 48,913 | [1] |
Total liabilities | 13,226,742 | 13,297,857 | [1] |
Stockholders' equity: | |||
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at March 31, 2023 and December 31, 2022 | 0 | 0 | [1] |
Common stock, par value $0.001 per share; 200,000,000 shares authorized: 54,398,025 shares issued and outstanding at March 31, 2023; and 54,326,527 shares issued and outstanding at December 31, 2022 | 54 | 54 | [1] |
Additional paid-in capital | 229,631 | 229,693 | [1] |
Retained earnings | 1,152,681 | 1,109,902 | [1] |
Accumulated other comprehensive loss | (43,049) | (42,253) | |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 1,339,317 | 1,297,396 | [1] |
Noncontrolling interest | 500 | 500 | [1] |
Total stockholders' equity | 1,339,817 | 1,297,896 | [1] |
Total liabilities and stockholders' equity | $ 14,566,559 | $ 14,595,753 | [1] |
[1]derived from audited financial statements. |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | [1] |
Held to maturity debt securities, fair value | $ 937,961 | $ 935,953 | |
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 | 200,000,000 | |
Common stock, shares issued (in shares) | 54,398,025 | 54,326,527 | |
Common stock, shares outstanding (in shares) | 54,398,025 | 54,326,527 | |
[1]derived from audited financial statements. |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Interest income: | ||
Interest and fees on loans | $ 163,732 | $ 103,105 |
Taxable securities | 10,895 | 8,223 |
Nontaxable securities | 21 | 43 |
Federal funds sold | 614 | 13 |
Other interest and dividends | 6,060 | 1,804 |
Total interest income | 181,322 | 113,188 |
Interest expense: | ||
Deposits | 55,713 | 5,843 |
Borrowed funds | 17,308 | 1,623 |
Total interest expense | 73,021 | 7,466 |
Net interest income | 108,301 | 105,722 |
Provision for credit losses | 4,197 | 5,362 |
Net interest income after provision for credit losses | 104,104 | 100,360 |
Noninterest income | ||
Securities losses | 0 | (3,335) |
Increase in cash surrender value life insurance | 1,621 | 1,608 |
Other operating income | 635 | 4,635 |
Total noninterest income | 6,321 | 7,948 |
Noninterest expense: | ||
Salaries and employee benefits | 19,066 | 18,301 |
Equipment and occupancy | 3,435 | 2,933 |
Third party processing and other services | 7,284 | 5,605 |
Professional services | 1,654 | 992 |
FDIC and other regulatory assessments | 1,517 | 1,132 |
Other real estate owned | 6 | 3 |
Other operating expense | 6,702 | 8,252 |
Total noninterest expense | 39,664 | 37,218 |
Income before income taxes | 70,761 | 71,090 |
Provision for income taxes | 12,790 | 13,477 |
Net income | 57,971 | 57,613 |
Dividends on preferred stock | 0 | 0 |
Net income available to common stockholders | $ 57,971 | $ 57,613 |
Basic earnings per common share (in dollars per share) | $ 1.07 | $ 1.06 |
Diluted earnings per common share (in dollars per share) | $ 1.06 | $ 1.06 |
Deposit Account [Member] | ||
Noninterest income | ||
Noninterest income | $ 1,934 | $ 2,142 |
Mortgage Banking [Member] | ||
Noninterest income | ||
Noninterest income | 442 | 526 |
Credit Card [Member] | ||
Noninterest income | ||
Noninterest income | $ 1,689 | $ 2,372 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net income | $ 57,971 | $ 57,613 |
Other comprehensive loss, net of tax: | ||
Unrealized net holding losses arising during period from securities available for sale, net of tax of $(221) and $(7,004) for 2023 and 2022, respectively | (666) | (26,997) |
Amortization of net unrealized gains on securities transferred from available-for-sale to held-to-maturity, net of tax of $(45) and $(150) for 2023 and 2022, respectively | (129) | (569) |
Reclassification adjustment for net losses on sales of securities, net of tax of $700 for 2022 | 0 | 2,635 |
Other comprehensive loss, net of tax | (796) | (24,931) |
Comprehensive income | $ 57,175 | $ 32,682 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Unrealized holding gain (loss) from available for sale securities, tax | $ (221) | $ (7,004) |
Amortization of net unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity, tax | $ (45) | (150) |
Reclassification adjustment for net (gains) losses on sale of securities available-for-sale, tax | $ 700 |
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, 2021 | 54,227,060 | |||||||
Balance at Dec. 31, 2021 | $ 54 | $ 0 | $ 226,397 | $ 911,008 | $ 14,056 | $ 500 | $ 1,152,015 | |
Common dividends declared | 0 | 0 | 0 | (12,485) | 0 | 0 | (12,485) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 33 | 0 | 0 | 33 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 26,974 | |||||||
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) | 28,098 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 553 | 0 | 0 | 0 | 553 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (613) | 0 | 0 | 0 | (613) | |
Stock-based compensation expense | 0 | 0 | 790 | 0 | 0 | 0 | 790 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (24,931) | 0 | (24,931) | |
Net income | $ 0 | 0 | 0 | 57,613 | 0 | 57,613 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 57,613 | |||||||
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 | |
Balance (in shares) at Dec. 31, 2022 | 54,326,527 | |||||||
Balance at Dec. 31, 2022 | $ 54 | 0 | 229,693 | 1,109,902 | (42,253) | 500 | 1,297,896 | [1] |
Common dividends declared | 0 | 0 | 0 | (15,233) | 0 | 0 | (15,233) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 41 | 0 | 0 | 41 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 20,713 | |||||||
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) | 50,785 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 846 | 0 | 0 | 0 | 846 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (1,716) | 0 | 0 | 0 | (1,716) | |
Stock-based compensation expense | 0 | 0 | 808 | 0 | 0 | 0 | 808 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (796) | 0 | (796) | |
Net income | $ 0 | 0 | 0 | 57,971 | 0 | 57,971 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 57,971 | |||||||
Balance (in shares) at Mar. 31, 2023 | 54,398,025 | |||||||
Balance at Mar. 31, 2023 | $ 54 | $ 0 | $ 229,631 | $ 1,152,681 | $ (43,049) | $ 500 | $ 1,339,817 | |
[1]derived from audited financial statements. |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Common dividends, per share declared (in dollars per share) | $ 0.28 | $ 0.23 |
Shares withheld in net settlement upon exercise of stock options (in shares) | 24,215 | 8,402 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
OPERATING ACTIVITIES | ||
Net income | $ 57,971 | $ 57,613 |
Adjustments to reconcile net income to net cash provided by | ||
Deferred tax | 49 | (5,257) |
Provision for credit losses | 4,197 | 5,362 |
Depreciation | 1,071 | 1,058 |
Accretion on acquired loans | 49 | 32 |
Amortization of core deposit intangible | 0 | 23 |
Amortization of investments in tax credit partnerships | 3,345 | 2,927 |
Net amortization of debt securities available for sale | 128 | 1,376 |
(Increase) decrease in accrued interest and dividends receivable | (2,078) | 443 |
Stock-based compensation expense | 808 | 790 |
Increase in accrued interest and dividends payable | 1,926 | 566 |
Proceeds from sale of mortgage loans held for sale | 16,320 | 8,955 |
Originations of mortgage loans held for sale | (15,922) | (7,718) |
Loss on sale of securities available for sale | 0 | 3,335 |
Gain on sale of mortgage loans held for sale | (442) | (526) |
Net gain on sale of other real estate owned and repossessed assets | 0 | (1) |
Write down of other real estate owned and repossessed assets | 0 | 6 |
Increase in cash surrender value of life insurance contracts | (1,621) | (1,608) |
Net change in other assets, liabilities, and other operating activities | (10,652) | 1,889 |
Net cash provided by operating activities | 55,149 | 69,265 |
INVESTMENT ACTIVITIES | ||
Purchases of debt securities available for sale | 0 | (52,500) |
Proceeds from maturities, calls and paydowns of debt securities available for sale | 18,853 | 29,627 |
Proceeds from sale of debt securities available for sale | 0 | 45,394 |
Purchases of debt securities held to maturity | 0 | (392,622) |
Proceeds from maturities, calls and paydowns of debt securities held to maturity | 11,960 | 21,554 |
Purchases of restricted equity securities | (12,750) | (423) |
Proceeds from sale of restricted equity securities | 13,177 | 0 |
Investment in tax credit partnerships and SBIC | (538) | (65) |
Return of capital from tax credit partnerships and SBIC | 0 | 249 |
Decrease (increase) in loans | 56,588 | (369,412) |
Purchases of premises and equipment | (1,314) | (666) |
Proceeds from sale of other real estate owned and repossessed assets | 0 | 44 |
Net cash provided by (used in) investing activities | 85,976 | (718,820) |
FINANCING ACTIVITIES | ||
Net (decrease) increase in non-interest-bearing deposits | (422,611) | 89,728 |
Net increase (decrease) in interest-bearing deposits | 491,123 | (133,809) |
Net decrease in federal funds purchased | (138,638) | (72,539) |
FHLB advances | 300,000 | 0 |
Repayment of FHLB advances | (300,000) | 0 |
Proceeds from exercise of stock options | 846 | 553 |
Taxes paid in net settlement of tax obligation upon exercise of stock options | (1,716) | (613) |
Dividends paid on common stock | (15,211) | (12,472) |
Net cash used in financing activities | (86,207) | (129,152) |
Net increase (decrease) in cash and cash equivalents | 54,918 | (778,707) |
Cash and cash equivalents at beginning of period | 816,053 | 4,222,096 |
Cash and cash equivalents at end of period | 870,971 | 3,443,389 |
Cash paid for: | ||
Interest | 71,095 | 6,900 |
Income taxes | 1,920 | 591 |
Income tax refund | 0 | (142) |
NONCASH TRANSACTIONS | ||
Other real estate acquired in settlement of loans | 0 | 830 |
Dividends on nonvested restricted stock reclassified as compensation expense | 41 | 33 |
Dividends declared | $ 15,233 | $ 12,485 |
Note 1 - General
Note 1 - General | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 The accompanying 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, 2022. All reported amounts are in thousands except share and per share data. |
Note 2 - Cash and Cash Equivale
Note 2 - Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2023 | |
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 | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3 Basic earnings per common share are computed by dividing net income 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 March 31, 2023 2022, Three Months Ended March 31, 2023 2022 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 54,360,253 54,263,143 Net income available to common stockholders $ 57,971 $ 57,613 Basic earnings per common share $ 1.07 $ 1.06 Weighted average common shares outstanding 54,360,253 54,263,143 Dilutive effects of assumed conversions and exercise of stock options and warrants 174,229 258,899 Weighted average common and dilutive potential common shares outstanding 54,534,482 54,522,042 Net income available to common stockholders $ 57,971 $ 57,613 Diluted earnings per common share $ 1.06 $ 1.06 |
Note 4 - Securities
Note 4 - Securities | 3 Months Ended |
Mar. 31, 2023 | |
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 March 31, 2023 December 31, 2022 Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value March 31, 2023 (In Thousands) Debt Securities Available for Sale U.S. Treasury Securities $ 3,001 $ - $ (11 ) $ 2,990 Government Agency Securities 4 - - 4 Mortgage-backed securities 272,070 7 (29,046 ) 243,031 State and municipal securities 14,646 2 (1,337 ) 13,311 Corporate debt 398,676 3 (33,067 ) 365,612 Total $ 688,397 $ 12 $ (63,461 ) $ 624,948 Debt Securities Held to Maturity U.S. Treasury Securities $ 507,601 $ - $ (30,021 ) $ 477,580 Mortgage-backed securities 506,342 10 (53,190 ) 453,162 State and municipal securities 8,046 - (827 ) 7,219 Total $ 1,021,989 $ 10 $ (84,038 ) $ 937,961 December 31, 2022 Debt Securities Available for Sale U.S. Treasury Securities $ 3,002 $ - $ (33 ) $ 2,969 Government Agency Securities 9 - - 9 Mortgage-backed securities 282,480 5 (32,782 ) 249,703 State and municipal securities 15,205 1 (1,597 ) 13,609 Corporate debt 406,680 - (28,155 ) 378,525 Total $ 707,376 $ 6 $ (62,567 ) $ 644,815 Debt Securities Held to Maturity U.S. Treasury Securities $ 507,151 $ - $ (36,197 ) $ 470,954 Mortgage-backed securities 518,929 7 (60,960 ) 457,976 State and municipal securities 8,041 - (1,018 ) 7,023 Total $ 1,034,121 $ 7 $ (98,175 ) $ 935,953 The amortized cost and fair value of debt securities as of March 31, 2023 December 31, 2022 may may not March 31, 2023 December 31, 2022 Amortized Cost Market Value Amortized Cost Market Value (In Thousands) Debt securities available for sale Due within one year $ 24,422 $ 24,042 $ 24,712 $ 24,432 Due from one to five years 59,243 57,178 58,554 57,092 Due from five to ten years 329,662 298,353 338,630 311,100 Due after ten years 3,000 2,344 3,000 2,488 Mortgage-backed securities 272,070 243,031 282,480 249,703 $ 688,397 $ 624,948 $ 707,376 $ 644,815 Debt securities held to maturity Due within one year $ 250 $ 250 $ 250 $ 250 Due from one to five years 386,897 370,166 386,465 366,095 Due from five to ten years 128,500 114,383 128,477 111,632 Due after ten years - - - - Mortgage-backed securities 506,342 453,162 518,929 457,976 $ 1,021,989 $ 937,961 $ 1,034,121 $ 935,953 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. Restricted equity securities are comprised entirely of restricted investment in Federal Home Loan Bank stock for membership requirements. The carrying value of investment securities pledged to secure public funds on deposit and for other purposes as required by law was $834.9 million and $789.3 million as of March 31, 2023 December 31, 2022, The following table identifies, as of March 31, 2023 December 31, 2022, 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 (In Thousands) March 31, 2023 Debt Securities available for sale U.S. Treasury Securities $ - $ - $ (11 ) $ 2,990 $ (11 ) $ 2,990 Government Agency Securities - 4 - - - 4 Mortgage-backed securities (364 ) 8,468 (28,682 ) 233,956 (29,046 ) 242,424 State and municipal securities (27 ) 3,328 (1,310 ) 9,202 (1,337 ) 12,530 Corporate debt (8,809 ) 163,363 (24,258 ) 189,931 (33,067 ) 353,294 Total $ (9,200 ) $ 175,163 $ (54,261 ) $ 436,079 $ (63,461 ) $ 611,242 Debt Securities held to maturity U.S. Treasury Securities $ (2,678 ) $ 130,640 $ (27,343 ) $ 346,939 $ (30,021 ) $ 477,579 Mortgage-backed securities (1,645 ) 31,827 (51,545 ) 416,994 (53,190 ) 448,821 State and municipal securities - - (827 ) 6,969 (827 ) 6,969 Total $ (4,323 ) $ 162,467 $ (79,715 ) $ 770,902 $ (84,038 ) $ 933,369 December 31, 2022 Debt Securities available for sale U.S. Treasury Securities $ (33 ) $ 2,969 $ - $ - $ (33 ) $ 2,969 Government Agency Securities - 9 - - - 9 Mortgage-backed securities $ (3,473 ) $ 60,234 $ (29,309 ) $ 189,109 $ (32,782 ) $ 249,343 State and municipal securities (186 ) 5,283 (1,411 ) 7,880 (1,597 ) 13,163 Corporate debt (18,566 ) 304,254 (9,589 ) 63,411 (28,155 ) 367,666 Total $ (22,258 ) $ 372,749 $ (40,309 ) $ 260,400 $ (62,567 ) $ 633,149 U.S. Treasury Securities $ (12,662 ) $ 295,383 $ (23,537 ) $ 175,570 $ (36,197 ) $ 470,953 Mortgage-backed securities (31,367 ) 278,746 (29,592 ) 174,842 (60,960 ) 453,588 State and municipal securities (544 ) 4,443 (474 ) 2,330 (1,018 ) 6,773 Total $ (44,573 ) $ 578,572 $ (53,603 ) $ 352,742 $ (98,175 ) $ 931,314 At March 31, 2023 2022, not not not not may not not March 31, 2023 2022, no zero not March 31, 2023 2022. March 31, 2023 not The following table summarizes information about sales of debt securities. Three Months Ended March 31, 2023 2022 (In Thousands) Sale proceeds $ - $ 45,394 Gross realized gains $ - $ - Gross realized losses - (3,335 ) Net realized losses $ - $ (3,335 ) |
Note 5 - Loans
Note 5 - Loans | 3 Months Ended |
Mar. 31, 2023 | |
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 ServisFirst 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 following table details the Company’s loans at March 31, 2023 December 31, 2022: March 31, December 31, 2023 2022 (Dollars In Thousands) Commercial, financial and agricultural $ 3,081,926 $ 3,145,317 Real estate - construction 1,469,670 1,532,388 Real estate - mortgage: Owner-occupied commercial 2,243,436 2,199,280 1-4 family mortgage 1,138,645 1,146,831 Other mortgage 3,624,071 3,597,750 Subtotal: Real estate - mortgage 7,006,152 6,943,861 Consumer 72,054 66,402 Total Loans 11,629,802 11,687,968 Less: Allowance for credit losses (148,965 ) (146,297 ) Net Loans $ 11,480,837 $ 11,541,671 Commercial, financial and agricultural 26.50 % 26.91 % Real estate - construction 12.64 % 13.11 % Real estate - mortgage: Owner-occupied commercial 19.29 % 18.82 % 1-4 family mortgage 9.79 % 9.81 % Other mortgage 31.16 % 30.78 % Subtotal: Real estate - mortgage 60.24 % 59.41 % Consumer 0.62 % 0.57 % 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 obligor (or obligors, 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 presently jeopardize debt repayment. These loans are characterized by the distinct possibility that the institution 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 March 31, 2023: 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving lines of credit converted to term loans Total (In Thousands) Commercial, financial and agricultural (1-55) Pass $ 160,551 $ 540,101 $ 471,521 $ 208,825 $ 136,657 $ 192,509 $ 1,252,905 $ 699 $ 2,963,768 (6) Special Mention - 8,870 5,850 1,953 1,877 4,151 40,868 18 63,588 (7) Substandard - accruing - 291 1,244 376 9,501 28,933 7,007 - 47,352 (7) Substandard -Non-accrual - 697 146 - - 3,345 3,030 - 7,219 Total Commercial, financial and agricultural $ 160,551 $ 549,959 $ 478,760 $ 211,154 $ 148,035 $ 228,938 $ 1,303,811 $ 717 $ 3,081,926 Current-period gross charge-offs - 616 - - - 428 212 - 1,257 Real estate - construction (1-55) Pass $ 37,212 $ 661,294 $ 556,953 $ 105,265 $ 4,761 $ 21,591 $ 77,837 $ - $ 1,464,913 (6) Special Mention - 2,500 - - - - - 201 2,701 (7) Substandard - accruing - - - - - 2,057 - - 2,057 Total Real estate - construction $ 37,212 $ 663,794 $ 556,953 $ 105,265 $ 4,761 $ 23,647 $ 77,837 $ 201 $ 1,469,670 Owner-occupied commercial (1-55) Pass $ 28,219 $ 441,407 $ 536,773 $ 353,489 $ 187,145 $ 600,679 $ 63,267 $ 874 $ 2,211,853 (6) Special Mention 1,496 2,349 856 - 7,909 6,391 1,601 - 20,601 (7) Substandard - accruing - - - - 2,358 5,237 - - 7,595 (7) Substandard -Non-accrual - - - - 48 3,340 - - 3,388 Total Owner-occupied commercial $ 29,715 $ 443,756 $ 537,629 $ 353,489 $ 197,461 $ 615,647 $ 64,867 $ 874 $ 2,243,436 Current-period gross charge-offs - - - - 26 - - - 26 1-4 family mortgage (1-55) Pass $ 40,954 $ 383,389 $ 253,519 $ 91,609 $ 51,728 $ 80,635 $ 222,966 $ - $ 1,124,800 (6) Special Mention - 414 365 808 261 1,576 7,469 - 10,893 (7) Substandard - accruing - - - - 139 516 253 - 908 (7) Substandard -Non-accrual - - 423 405 540 622 54 - 2,044 Total 1-4 family mortgage $ 40,954 $ 383,803 $ 254,307 $ 92,822 $ 52,668 $ 83,349 $ 230,742 $ - $ 1,138,645 Other mortgage (1-55) Pass $ 31,821 $ 1,075,262 $ 1,011,383 $ 515,230 $ 316,995 $ 581,406 $ 75,148 $ 246 $ 3,607,491 (6) Special Mention - - - - - 4,456 - - 4,456 (7) Substandard - accruing - 233 - - - 11,385 - - 11,618 (7) Substandard -Non-accrual - - - - 130 376 - - 506 Total Other mortgage $ 31,821 $ 1,075,495 $ 1,011,383 $ 515,230 $ 317,125 $ 597,623 $ 75,148 $ 246 $ 3,624,071 Consumer (1-55) Pass $ 23,355 $ 6,607 $ 5,542 $ 2,697 $ 1,644 $ 3,190 $ 29,007 $ - $ 72,042 (6) Special Mention - - - - - 12 - - 12 (7) Substandard - accruing - - - - - - - - - Total Consumer $ 23,355 $ 6,607 $ 5,542 $ 2,697 $ 1,644 $ 3,202 $ 29,007 $ - $ 72,054 Current-period gross charge-offs - - - - - - 391 - 391 Total Loans (1-55) Pass $ 322,112 $ 3,108,059 $ 2,835,691 $ 1,277,114 $ 698,931 $ 1,480,009 $ 1,721,129 $ 1,819 $ 11,444,866 (6) Special Mention 1,496 14,133 7,070 2,761 10,047 16,586 49,938 219 102,250 (7) Substandard - accruing - 524 1,244 376 11,998 48,128 7,260 - 69,530 (7) Substandard -Non-accrual - 697 570 405 718 7,683 3,084 - 13,157 Total Loans $ 323,608 $ 3,123,414 $ 2,844,575 $ 1,280,656 $ 721,694 $ 1,552,406 $ 1,781,412 $ 2,038 $ 11,629,802 Current-period gross charge-offs $ - $ 616 $ - $ - $ 26 $ 428 $ 603 $ - $ 1,673 Loans by credit quality indicator, loan type and based on year of origination as of December 31, 2022 Revolving 2022 2021 2020 2019 2018 Prior Loans Total (In Thousands) Commercial, financial and agricultural Pass $ 691,817 $ 502,648 $ 223,096 $ 144,587 $ 78,477 $ 134,893 $ 1,267,333 $ 3,042,851 Special Mention 6,906 3,737 1,101 1,748 570 898 29,516 44,476 Substandard 200 - 379 9,501 16,329 16,595 14,986 57,990 Total Commercial, financial and agricultural $ 698,923 $ 506,385 $ 224,576 $ 155,836 $ 95,376 $ 152,386 $ 1,311,835 $ 3,145,317 Real estate - construction Pass $ 618,578 $ 638,126 $ 156,834 $ 15,197 $ 12,063 $ 14,847 $ 72,172 $ 1,527,817 Special Mention 2,500 - - - - 873 - 3,373 Substandard - - - - 1,198 - - 1,198 Total Real estate - construction $ 621,078 $ 638,126 $ 156,834 $ 15,197 $ 13,261 $ 15,720 $ 72,172 $ 1,532,388 Owner-occupied commercial Pass $ 424,321 $ 496,298 $ 352,375 $ 199,987 $ 157,204 $ 477,926 $ 64,152 $ 2,172,263 Special Mention 2,362 - - 2,723 4,682 6,917 1,687 18,371 Substandard - - - 73 - 8,573 - 8,646 Total Owner-occupied commercial $ 426,683 $ 496,298 $ 352,375 $ 202,783 $ 161,886 $ 493,416 $ 65,839 $ 2,199,280 1-4 family mortgage Pass $ 388,778 $ 273,515 $ 93,272 $ 52,209 $ 28,999 $ 57,512 $ 243,302 $ 1,137,587 Special Mention 315 445 816 375 294 881 2,854 5,980 Substandard - 279 404 648 346 1,224 363 3,264 Total 1-4 family mortgage $ 389,093 $ 274,239 $ 94,492 $ 53,232 $ 29,639 $ 59,617 $ 246,519 $ 1,146,831 Other mortgage Pass $ 1,027,747 $ 976,208 $ 517,392 $ 380,104 $ 130,228 $ 470,699 $ 75,669 $ 3,578,047 Special Mention 231 - - - - 7,161 - 7,392 Substandard - - - 130 4,569 7,612 - 12,311 Total Other mortgage $ 1,027,978 $ 976,208 $ 517,392 $ 380,234 $ 134,797 $ 485,472 $ 75,669 $ 3,597,750 Consumer Pass $ 21,132 $ 5,845 $ 4,203 $ 1,759 $ 440 $ 2,988 $ 30,021 $ 66,388 Special Mention - - - - - 14 - 14 Substandard - - - - - - - - Total Consumer $ 21,132 $ 5,845 $ 4,203 $ 1,759 $ 440 $ 3,002 $ 30,021 $ 66,402 Total Loans Pass $ 3,172,373 $ 2,892,640 $ 1,347,172 $ 793,843 $ 407,411 $ 1,158,865 $ 1,752,649 $ 11,524,953 Special Mention 12,314 4,182 1,917 4,846 5,546 16,744 34,057 79,606 Substandard 200 279 783 10,352 22,442 34,004 15,349 83,409 Total Loans $ 3,184,887 $ 2,897,101 $ 1,349,872 $ 809,041 $ 435,399 $ 1,209,613 $ 1,802,055 $ 11,687,968 Loans by performance status as of March 31, 2023 December 31, 2022 March 31, 2023 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 3,074,568 $ 7,358 $ 3,081,926 Real estate - construction 1,469,670 - 1,469,670 Real estate - mortgage: Owner-occupied commercial 2,240,048 3,388 2,243,436 1-4 family mortgage 1,136,601 2,044 1,138,645 Other mortgage 3,619,109 4,962 3,624,071 Total real estate - mortgage 6,995,758 10,394 7,006,152 Consumer 71,973 81 72,054 Total $ 11,611,969 $ 17,833 $ 11,629,802 December 31, 2022 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 3,138,014 $ 7,303 $ 3,145,317 Real estate - construction 1,532,388 - 1,532,388 Real estate - mortgage: Owner-occupied commercial 2,195,968 3,312 2,199,280 1-4 family mortgage 1,144,713 2,118 1,146,831 Other mortgage 3,592,732 5,018 3,597,750 Total real estate - mortgage 6,933,413 10,448 6,943,861 Consumer 66,312 90 66,402 Total $ 11,670,127 $ 17,841 $ 11,687,968 Loans by past due status as of March 31, 2023 December 31, 2022 March 31, 2023 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 $ 1,023 $ 1,153 $ 139 $ 2,315 $ 7,219 $ 3,072,392 $ 3,081,926 $ 1,014 Real estate - construction - - - - - 1,469,670 1,469,670 - Real estate - mortgage: Owner-occupied commercial 3,030 370 - 3,400 3,388 2,236,648 2,243,436 3,222 1-4 family mortgage 5,998 558 - 6,556 2,044 1,130,045 1,138,645 177 Other mortgage - - 4,456 4,456 506 3,619,109 3,624,071 506 Total real estate - mortgage 9,028 928 4,456 14,412 5,938 6,985,802 7,006,152 3,905 Consumer 94 64 81 239 - 71,815 72,054 - Total $ 10,145 $ 2,145 $ 4,676 $ 16,966 $ 13,157 $ 11,599,679 $ 11,629,802 $ 4,919 December 31, 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 $ 1,075 $ 409 $ 195 $ 1,679 $ 7,108 $ 3,136,530 3,145,317 $ 3,238 Real estate - construction - 711 - 711 - 1,531,677 1,532,388 - Real estate - mortgage: Owner-occupied commercial 83 452 - 535 3,312 2,195,433 2,199,280 57 1-4 family mortgage 405 580 594 1,579 1,524 1,143,728 1,146,831 491 Other mortgage 231 - 4,512 4,743 506 3,592,501 3,597,750 - Total real estate - mortgage 719 1,032 5,106 6,857 5,342 6,931,662 6,943,861 548 Consumer 174 128 90 392 - 66,010 66,402 621 Total $ 1,968 $ 2,280 $ 5,391 $ 9,639 $ 12,450 $ 11,665,879 11,687,968 $ 4,407 Under the current expected credit losses (“CECL”) methodology, the 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 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 March 31, 2023 December 31, 2022, twelve six December 31, 2022 The Company uses a loss-rate method to estimate expected credit losses for its commercial revolving lines of credit and credit card pools. The commercial 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 and industrial loans may may Real estate construction loans Real estate mortgage loans may Consumer loans The following table presents changes in the ACL, segregated by loan type, for the three March 31, 2023 March 31, 2022. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended March 31, 2023 Allowance for credit losses: Balance at January 1, 2023 $ 42,830 $ 42,889 $ 58,652 $ 1,926 $ 146,297 Charge-offs (1,257 ) - (26 ) (390 ) (1,673 ) Recoveries 128 3 1 11 143 Provision 1,193 (2,409 ) 4,530 883 4,197 Balance at March 31, 2023 $ 42,895 $ 40,483 $ 63,157 $ 2,430 $ 148,965 Three Months Ended March 31, 2022 Allowance for credit losses: Balance at January 1, 2022 $ 41,869 $ 26,994 $ 45,829 $ 1,968 $ 116,660 Charge-offs (2,574 ) - (27 ) (75 ) (2,676 ) Recoveries 105 - 12 - 117 Provision 2,017 827 2,734 (216 ) 5,362 Balance at March 31, 2022 $ 41,417 $ 27,821 $ 48,548 $ 1,677 $ 119,463 We maintain an ACL on unfunded commercial lending commitments and letters of credit to provide for the risk of loss inherent in these arrangements. The ACL is computed using a methodology similar to that used to determine the ACL for loans, modified to take into account the probability of a drawdown on the commitment. The ACL on unfunded loan commitments is classified as a liability account on the Consolidated Balance Sheets within other liabilities, while the corresponding provision for these credit losses is recorded as a component of other expense. The ACL on unfunded commitments was $575,000 at March 31, 2023 December 31, 2022. three March 31, 2023 2022 zero Loans that no Accounts ACL March 31, 2023 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 21,757 $ 7,468 $ 831 $ 24,524 $ 54,580 $ 10,558 Real estate - construction 872 - - 1,184 2,056 5 Real estate - mortgage: Owner-occupied commercial 10,935 - - 48 10,983 207 1-4 family mortgage 3,746 - - - 3,746 291 Other mortgage 11,258 - - - 11,258 76 Total real estate - mortgage 25,939 - - 48 25,987 574 Consumer - - - - - - Total $ 48,568 $ 7,468 $ 831 $ 25,756 $ 82,623 $ 11,137 Accounts ACL December 31, 2022 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 20,061 $ 12,092 $ 837 $ 24,998 $ 57,988 $ 9,910 Real estate - construction - - - 1,198 1,198 7 Real estate - mortgage: Owner-occupied commercial 8,573 - - 74 8,647 154 1-4 family mortgage 3,260 - - - 3,260 316 Other mortgage 12,311 - - - 12,311 - Total real estate - mortgage 24,144 - - 74 24,218 470 Consumer - - - - - - Total $ 44,205 $ 12,092 $ 837 $ 26,270 $ 83,404 $ 10,387 On March 22, 2020, may 19. 4013 March 1, 2020 December 31, 2020 60 19 April 2020 4013 December 27, 2020, 2021, 4013 January 1, 2022 60 19 19 not 180 The Bank adopted Accounting Standards Update (“ASU”) 2022 02, 326 2022 02” January 1, 2023. 2022 02 The table below details the amortized cost basis at the end of the reporting period for loans made to borrowers experiencing financial difficulty that were modified during the three March 31, 2023: Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 39,978 $ - $ 39,978 0.34 % Real estate - construction 200 - 200 - % Owner-occupied commercial 9,215 701 9,916 0.09 % 1-4 family mortgage 214 - 214 - % Other mortgage 11,254 359 11,613 0.10 % Total $ 60,861 $ 1,060 $ 61,921 0.53 % The following table summarizes the financial impacts of loan modifications made to borrowers experiencing financial difficulty during the three March 31, 2023: Term Total Payment Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 3 to 12 $ - Real estate - construction 6 - Owner-occupied commercial 3 to 18 49 1-4 family mortgage 3 - Other mortgage 3 to 36 59 No January 1, 2023, 2022 02, 30 March 31, 2023. March 31, 2023, first 2023. As of March 31, 2023, not first 2023 90 TDRs at December 31, 2022 March 31, 2022 December 31, 2022 March 31, 2022 three March 31, 2022 |
Note 6 - Leases
Note 6 - Leases | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 6 LEASES 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 years. At March 31, 2023, December 31, 2022 Maturities of operating lease liabilities are as follows: March 31, 2023 (In Thousands) 2023 (remaining) $ 3,864 2024 3,768 2025 3,672 2026 3,066 2027 2,588 thereafter 6,079 Total lease payments 23,037 Less: imputed interest (2,339 ) Present value of operating lease liabilities $ 20,698 As of March 31, 2023, Operating cash flows related to leases were $1.2 million and $1.0 million for the three March 31, 2023 2022, Lease costs during the three March 31, 2023 2022 Three Months Ended March 31, 2023 2022 Operating lease cost $ 1,230 $ 1,043 Variable lease cost 191 148 Sublease income (8 ) (24 ) Net lease cost $ 1,413 $ 1,167 |
Note 7 - Employee and Director
Note 7 - Employee and Director Benefits | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 7 Stock Incentive Plan At March 31, 2023, three March 31, 2023 2022, 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 the Company’s trading price history. The expected term for options granted is based on the short-cut 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. There were no grants of stock options during first 2023 2022. The following table summarizes stock option activity during the three March 31, 2023 2022: Weighted Weighted Average Average Remaining Exercise Contractual Aggregate Shares Price Term (years) Intrinsic Value (In Thousands) Three Months Ended March 31, 2023: Outstanding January 1, 2023 280,000 $ 19.43 3.0 $ 14,088 Exercised (75,000 ) 10.80 0.9 3,288 Outstanding March 31, 2023 205,000 $ 22.59 3.4 $ 7,428 Exercisable March 31, 2023 152,000 $ 17.28 2.2 $ 5,859 Three Months Ended March 31, 2022: Outstanding January 1, 2022 353,250 $ 19.28 3.8 $ 23,525 Exercised (36,500 ) 18.65 3.1 2,677 Outstanding March 31, 2022 316,750 $ 19.35 3.7 $ 24,446 Exercisable March 31, 2022 255,000 $ 14.79 2.8 $ 20,056 As of March 31, 2023, 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 March 31, 2023, 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 January 1 st March 31, 2023, March 31, 2023, Restricted Stock Performance Shares Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Three Months Ended March 31, 2023: Non-vested at January 1, 2023 141,580 $ 56.39 23,852 $ 54.16 Granted 27,258 69.83 8,091 70.29 Vested (17,521 ) 48.32 - - Forfeited (6,545 ) 69.90 - - Non-vested at March 31, 2023 144,772 $ 59.29 31,943 $ 58.25 Three Months Ended March 31, 2022: Non-vested at January 1, 2022 127,602 $ 42.27 12,437 $ 37.05 Granted 27,851 84.67 6,557 74.52 Vested (9,612 ) 42.23 - - Forfeited (877 ) 40.72 - - Non-vested at March 31, 2022 144,964 $ 50.43 18,994 $ 49.99 |
Note 8 - Derivatives
Note 8 - Derivatives | 3 Months Ended |
Mar. 31, 2023 | |
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 of 2020 not one March 31, 2023 one 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 March 31, 2023 December 31, 2022 not |
Note 9 - Recently Adopted Accou
Note 9 - Recently Adopted Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
New Adopted Accounting Pronouncements [Text Block] | NOTE 9 RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In March 2022, 2022 02, Financial Instruments Credit Losses (Topic 326 310 40, Receivables Trouble Debt Restructurings by Creditors 2016 13, Financial Instruments-Credit Losses (Topic 326 of Credit Losses on Financial Instruments. 326 20. 326 20 50 6, 2022 02 January 1, 2023 2022 02 not |
Note 10 - Recent Accounting Pro
Note 10 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | NOTE 10 RECENT ACCOUNTING PRONOUNCEMENTS In March 2023, 2023 02, Investments-Equity Method and Joint Ventures (Topic 323 2023 02 December 15, 2023, not |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2023 | |
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 1 2 not 3 Derivative instruments. 2 Loans Individually Evaluated. not not 820 10 3 March 31, 2023 December 31, 2022 three March 31, 2023, three March 31, 2022. Other Real Estate Owned not March 31, 2023 December 31, 2022 3 three March 31, 2023, three March 31, 2022. 3 There were two March 31, 2023 December 31, 2022. Two residential real estate loans for $190,000 were in the process of foreclosure as of March 31, 2023. December 31, 2022. The following table presents the Company’s financial assets carried at fair value on a recurring basis as of March 31, 2023 December 31, 2022. March 31, 2023 December 31, 2022. Fair Value Measurements at March 31, 2023 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 $ 2,990 $ - $ - $ 2,990 Government agency securities - 4 - 4 Mortgage-backed securities - 243,031 - 243,031 State and municipal securities - 13,311 - 13,311 Corporate debt - 358,752 6,860 365,612 Total available-for-sale debt securities 2,990 615,098 6,860 624,948 Interest rate cap derivative - 1,181 - 1,181 Total assets at fair value $ 2,990 $ 616,279 $ 6,860 $ 626,129 Fair Value Measurements at December 31, 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 $ 2,969 $ - $ - $ 2,969 Government agency securities - 9 - 9 Mortgage-backed securities - 249,703 - 249,703 State and municipal securities - 13,609 - 13,609 Corporate debt - 367,665 10,860 378,525 Total available-for-sale debt securities 2,969 630,986 10,860 644,815 Interest rate cap derivative - 4,201 - 4,201 Total assets at fair value $ 2,969 $ 635,187 $ 10,860 $ 649,016 The following table presents the Company’s financial assets carried at fair value on a nonrecurring basis as of March 31, 2023 December 31, 2022. March 31, 2023 December 31, 2022. Fair Value Measurements at March 31, 2023 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 71,486 $ 71,486 Other real estate owned and repossessed assets - - 248 248 Total assets at fair value $ - $ - $ 71,734 $ 71,734 Fair Value Measurements at December 31, 2022 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 73,017 $ 73,017 Other real estate owned - - 248 248 Total assets at fair value $ - $ - $ 73,265 $ 73,265 There were no liabilities measured at fair value on a non-recurring basis as of March 31, 2023 December 31, 2022. In the case of the debt securities portfolio, the Company monitors the portfolio to ascertain when transfers between levels have been affected. For the three March 31, 2023, one 3 2. The table below includes a rollforward of the balance sheet amounts for the period ended March 31, 2023 March 31, 2022 ( 3 For the period ended March 31, 2023 2022 Available-for-sale Securities Available-for-sale Securities (In Thousands) Fair value, beginning of period $ 10,860 $ 16,992 Transfers into Level 3 - - 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 160 (343 ) Purchases - - Transfers out of Level 3 (4,160 ) (5,149 ) Fair value, end of period $ 6,860 $ 11,500 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 March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 864,493 $ 864,493 $ 814,538 $ 814,538 Held to maturity U.S. Treasury securities 507,601 477,580 507,601 470,954 Level 2 Inputs: Federal funds sold 6,478 6,478 1,515 1,515 Held to maturity debt securites 506,342 453,162 526,720 464,749 Mortgage loans held for sale 1,651 1,642 1,607 1,604 Restricted equity securities 7,307 7,307 7,734 7,734 Level 3 Inputs: Held to maturity debt securites 250 250 250 250 Loans, net 11,480,837 11,145,529 11,541,671 11,265,517 Financial Liabilities: Level 2 Inputs: Deposits $ 11,615,317 $ 11,602,610 $ 11,546,805 $ 11,529,647 Federal funds purchased 1,480,160 1,480,160 1,618,798 1,618,798 Other borrowings 65,417 57,340 64,726 57,101 |
Note 3 - Earnings Per Common _2
Note 3 - Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2023 2022 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 54,360,253 54,263,143 Net income available to common stockholders $ 57,971 $ 57,613 Basic earnings per common share $ 1.07 $ 1.06 Weighted average common shares outstanding 54,360,253 54,263,143 Dilutive effects of assumed conversions and exercise of stock options and warrants 174,229 258,899 Weighted average common and dilutive potential common shares outstanding 54,534,482 54,522,042 Net income available to common stockholders $ 57,971 $ 57,613 Diluted earnings per common share $ 1.06 $ 1.06 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value March 31, 2023 (In Thousands) Debt Securities Available for Sale U.S. Treasury Securities $ 3,001 $ - $ (11 ) $ 2,990 Government Agency Securities 4 - - 4 Mortgage-backed securities 272,070 7 (29,046 ) 243,031 State and municipal securities 14,646 2 (1,337 ) 13,311 Corporate debt 398,676 3 (33,067 ) 365,612 Total $ 688,397 $ 12 $ (63,461 ) $ 624,948 Debt Securities Held to Maturity U.S. Treasury Securities $ 507,601 $ - $ (30,021 ) $ 477,580 Mortgage-backed securities 506,342 10 (53,190 ) 453,162 State and municipal securities 8,046 - (827 ) 7,219 Total $ 1,021,989 $ 10 $ (84,038 ) $ 937,961 December 31, 2022 Debt Securities Available for Sale U.S. Treasury Securities $ 3,002 $ - $ (33 ) $ 2,969 Government Agency Securities 9 - - 9 Mortgage-backed securities 282,480 5 (32,782 ) 249,703 State and municipal securities 15,205 1 (1,597 ) 13,609 Corporate debt 406,680 - (28,155 ) 378,525 Total $ 707,376 $ 6 $ (62,567 ) $ 644,815 Debt Securities Held to Maturity U.S. Treasury Securities $ 507,151 $ - $ (36,197 ) $ 470,954 Mortgage-backed securities 518,929 7 (60,960 ) 457,976 State and municipal securities 8,041 - (1,018 ) 7,023 Total $ 1,034,121 $ 7 $ (98,175 ) $ 935,953 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | March 31, 2023 December 31, 2022 Amortized Cost Market Value Amortized Cost Market Value (In Thousands) Debt securities available for sale Due within one year $ 24,422 $ 24,042 $ 24,712 $ 24,432 Due from one to five years 59,243 57,178 58,554 57,092 Due from five to ten years 329,662 298,353 338,630 311,100 Due after ten years 3,000 2,344 3,000 2,488 Mortgage-backed securities 272,070 243,031 282,480 249,703 $ 688,397 $ 624,948 $ 707,376 $ 644,815 Debt securities held to maturity Due within one year $ 250 $ 250 $ 250 $ 250 Due from one to five years 386,897 370,166 386,465 366,095 Due from five to ten years 128,500 114,383 128,477 111,632 Due after ten years - - - - Mortgage-backed securities 506,342 453,162 518,929 457,976 $ 1,021,989 $ 937,961 $ 1,034,121 $ 935,953 |
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 (In Thousands) March 31, 2023 Debt Securities available for sale U.S. Treasury Securities $ - $ - $ (11 ) $ 2,990 $ (11 ) $ 2,990 Government Agency Securities - 4 - - - 4 Mortgage-backed securities (364 ) 8,468 (28,682 ) 233,956 (29,046 ) 242,424 State and municipal securities (27 ) 3,328 (1,310 ) 9,202 (1,337 ) 12,530 Corporate debt (8,809 ) 163,363 (24,258 ) 189,931 (33,067 ) 353,294 Total $ (9,200 ) $ 175,163 $ (54,261 ) $ 436,079 $ (63,461 ) $ 611,242 Debt Securities held to maturity U.S. Treasury Securities $ (2,678 ) $ 130,640 $ (27,343 ) $ 346,939 $ (30,021 ) $ 477,579 Mortgage-backed securities (1,645 ) 31,827 (51,545 ) 416,994 (53,190 ) 448,821 State and municipal securities - - (827 ) 6,969 (827 ) 6,969 Total $ (4,323 ) $ 162,467 $ (79,715 ) $ 770,902 $ (84,038 ) $ 933,369 December 31, 2022 Debt Securities available for sale U.S. Treasury Securities $ (33 ) $ 2,969 $ - $ - $ (33 ) $ 2,969 Government Agency Securities - 9 - - - 9 Mortgage-backed securities $ (3,473 ) $ 60,234 $ (29,309 ) $ 189,109 $ (32,782 ) $ 249,343 State and municipal securities (186 ) 5,283 (1,411 ) 7,880 (1,597 ) 13,163 Corporate debt (18,566 ) 304,254 (9,589 ) 63,411 (28,155 ) 367,666 Total $ (22,258 ) $ 372,749 $ (40,309 ) $ 260,400 $ (62,567 ) $ 633,149 U.S. Treasury Securities $ (12,662 ) $ 295,383 $ (23,537 ) $ 175,570 $ (36,197 ) $ 470,953 Mortgage-backed securities (31,367 ) 278,746 (29,592 ) 174,842 (60,960 ) 453,588 State and municipal securities (544 ) 4,443 (474 ) 2,330 (1,018 ) 6,773 Total $ (44,573 ) $ 578,572 $ (53,603 ) $ 352,742 $ (98,175 ) $ 931,314 |
Debt Securities, Available-for-Sale [Table Text Block] | Three Months Ended March 31, 2023 2022 (In Thousands) Sale proceeds $ - $ 45,394 Gross realized gains $ - $ - Gross realized losses - (3,335 ) Net realized losses $ - $ (3,335 ) |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2023 2022 (Dollars In Thousands) Commercial, financial and agricultural $ 3,081,926 $ 3,145,317 Real estate - construction 1,469,670 1,532,388 Real estate - mortgage: Owner-occupied commercial 2,243,436 2,199,280 1-4 family mortgage 1,138,645 1,146,831 Other mortgage 3,624,071 3,597,750 Subtotal: Real estate - mortgage 7,006,152 6,943,861 Consumer 72,054 66,402 Total Loans 11,629,802 11,687,968 Less: Allowance for credit losses (148,965 ) (146,297 ) Net Loans $ 11,480,837 $ 11,541,671 Commercial, financial and agricultural 26.50 % 26.91 % Real estate - construction 12.64 % 13.11 % Real estate - mortgage: Owner-occupied commercial 19.29 % 18.82 % 1-4 family mortgage 9.79 % 9.81 % Other mortgage 31.16 % 30.78 % Subtotal: Real estate - mortgage 60.24 % 59.41 % Consumer 0.62 % 0.57 % Total Loans 100.00 % 100.00 % |
Financing Receivable Based on Year of Origination [Table Text Block] | 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving lines of credit converted to term loans Total (In Thousands) Commercial, financial and agricultural (1-55) Pass $ 160,551 $ 540,101 $ 471,521 $ 208,825 $ 136,657 $ 192,509 $ 1,252,905 $ 699 $ 2,963,768 (6) Special Mention - 8,870 5,850 1,953 1,877 4,151 40,868 18 63,588 (7) Substandard - accruing - 291 1,244 376 9,501 28,933 7,007 - 47,352 (7) Substandard -Non-accrual - 697 146 - - 3,345 3,030 - 7,219 Total Commercial, financial and agricultural $ 160,551 $ 549,959 $ 478,760 $ 211,154 $ 148,035 $ 228,938 $ 1,303,811 $ 717 $ 3,081,926 Current-period gross charge-offs - 616 - - - 428 212 - 1,257 Real estate - construction (1-55) Pass $ 37,212 $ 661,294 $ 556,953 $ 105,265 $ 4,761 $ 21,591 $ 77,837 $ - $ 1,464,913 (6) Special Mention - 2,500 - - - - - 201 2,701 (7) Substandard - accruing - - - - - 2,057 - - 2,057 Total Real estate - construction $ 37,212 $ 663,794 $ 556,953 $ 105,265 $ 4,761 $ 23,647 $ 77,837 $ 201 $ 1,469,670 Owner-occupied commercial (1-55) Pass $ 28,219 $ 441,407 $ 536,773 $ 353,489 $ 187,145 $ 600,679 $ 63,267 $ 874 $ 2,211,853 (6) Special Mention 1,496 2,349 856 - 7,909 6,391 1,601 - 20,601 (7) Substandard - accruing - - - - 2,358 5,237 - - 7,595 (7) Substandard -Non-accrual - - - - 48 3,340 - - 3,388 Total Owner-occupied commercial $ 29,715 $ 443,756 $ 537,629 $ 353,489 $ 197,461 $ 615,647 $ 64,867 $ 874 $ 2,243,436 Current-period gross charge-offs - - - - 26 - - - 26 1-4 family mortgage (1-55) Pass $ 40,954 $ 383,389 $ 253,519 $ 91,609 $ 51,728 $ 80,635 $ 222,966 $ - $ 1,124,800 (6) Special Mention - 414 365 808 261 1,576 7,469 - 10,893 (7) Substandard - accruing - - - - 139 516 253 - 908 (7) Substandard -Non-accrual - - 423 405 540 622 54 - 2,044 Total 1-4 family mortgage $ 40,954 $ 383,803 $ 254,307 $ 92,822 $ 52,668 $ 83,349 $ 230,742 $ - $ 1,138,645 Other mortgage (1-55) Pass $ 31,821 $ 1,075,262 $ 1,011,383 $ 515,230 $ 316,995 $ 581,406 $ 75,148 $ 246 $ 3,607,491 (6) Special Mention - - - - - 4,456 - - 4,456 (7) Substandard - accruing - 233 - - - 11,385 - - 11,618 (7) Substandard -Non-accrual - - - - 130 376 - - 506 Total Other mortgage $ 31,821 $ 1,075,495 $ 1,011,383 $ 515,230 $ 317,125 $ 597,623 $ 75,148 $ 246 $ 3,624,071 Consumer (1-55) Pass $ 23,355 $ 6,607 $ 5,542 $ 2,697 $ 1,644 $ 3,190 $ 29,007 $ - $ 72,042 (6) Special Mention - - - - - 12 - - 12 (7) Substandard - accruing - - - - - - - - - Total Consumer $ 23,355 $ 6,607 $ 5,542 $ 2,697 $ 1,644 $ 3,202 $ 29,007 $ - $ 72,054 Current-period gross charge-offs - - - - - - 391 - 391 Total Loans (1-55) Pass $ 322,112 $ 3,108,059 $ 2,835,691 $ 1,277,114 $ 698,931 $ 1,480,009 $ 1,721,129 $ 1,819 $ 11,444,866 (6) Special Mention 1,496 14,133 7,070 2,761 10,047 16,586 49,938 219 102,250 (7) Substandard - accruing - 524 1,244 376 11,998 48,128 7,260 - 69,530 (7) Substandard -Non-accrual - 697 570 405 718 7,683 3,084 - 13,157 Total Loans $ 323,608 $ 3,123,414 $ 2,844,575 $ 1,280,656 $ 721,694 $ 1,552,406 $ 1,781,412 $ 2,038 $ 11,629,802 Current-period gross charge-offs $ - $ 616 $ - $ - $ 26 $ 428 $ 603 $ - $ 1,673 Revolving 2022 2021 2020 2019 2018 Prior Loans Total (In Thousands) Commercial, financial and agricultural Pass $ 691,817 $ 502,648 $ 223,096 $ 144,587 $ 78,477 $ 134,893 $ 1,267,333 $ 3,042,851 Special Mention 6,906 3,737 1,101 1,748 570 898 29,516 44,476 Substandard 200 - 379 9,501 16,329 16,595 14,986 57,990 Total Commercial, financial and agricultural $ 698,923 $ 506,385 $ 224,576 $ 155,836 $ 95,376 $ 152,386 $ 1,311,835 $ 3,145,317 Real estate - construction Pass $ 618,578 $ 638,126 $ 156,834 $ 15,197 $ 12,063 $ 14,847 $ 72,172 $ 1,527,817 Special Mention 2,500 - - - - 873 - 3,373 Substandard - - - - 1,198 - - 1,198 Total Real estate - construction $ 621,078 $ 638,126 $ 156,834 $ 15,197 $ 13,261 $ 15,720 $ 72,172 $ 1,532,388 Owner-occupied commercial Pass $ 424,321 $ 496,298 $ 352,375 $ 199,987 $ 157,204 $ 477,926 $ 64,152 $ 2,172,263 Special Mention 2,362 - - 2,723 4,682 6,917 1,687 18,371 Substandard - - - 73 - 8,573 - 8,646 Total Owner-occupied commercial $ 426,683 $ 496,298 $ 352,375 $ 202,783 $ 161,886 $ 493,416 $ 65,839 $ 2,199,280 1-4 family mortgage Pass $ 388,778 $ 273,515 $ 93,272 $ 52,209 $ 28,999 $ 57,512 $ 243,302 $ 1,137,587 Special Mention 315 445 816 375 294 881 2,854 5,980 Substandard - 279 404 648 346 1,224 363 3,264 Total 1-4 family mortgage $ 389,093 $ 274,239 $ 94,492 $ 53,232 $ 29,639 $ 59,617 $ 246,519 $ 1,146,831 Other mortgage Pass $ 1,027,747 $ 976,208 $ 517,392 $ 380,104 $ 130,228 $ 470,699 $ 75,669 $ 3,578,047 Special Mention 231 - - - - 7,161 - 7,392 Substandard - - - 130 4,569 7,612 - 12,311 Total Other mortgage $ 1,027,978 $ 976,208 $ 517,392 $ 380,234 $ 134,797 $ 485,472 $ 75,669 $ 3,597,750 Consumer Pass $ 21,132 $ 5,845 $ 4,203 $ 1,759 $ 440 $ 2,988 $ 30,021 $ 66,388 Special Mention - - - - - 14 - 14 Substandard - - - - - - - - Total Consumer $ 21,132 $ 5,845 $ 4,203 $ 1,759 $ 440 $ 3,002 $ 30,021 $ 66,402 Total Loans Pass $ 3,172,373 $ 2,892,640 $ 1,347,172 $ 793,843 $ 407,411 $ 1,158,865 $ 1,752,649 $ 11,524,953 Special Mention 12,314 4,182 1,917 4,846 5,546 16,744 34,057 79,606 Substandard 200 279 783 10,352 22,442 34,004 15,349 83,409 Total Loans $ 3,184,887 $ 2,897,101 $ 1,349,872 $ 809,041 $ 435,399 $ 1,209,613 $ 1,802,055 $ 11,687,968 |
Financing Receivable, Credit Substitute, Credit Quality Indicator [Table Text Block] | March 31, 2023 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 3,074,568 $ 7,358 $ 3,081,926 Real estate - construction 1,469,670 - 1,469,670 Real estate - mortgage: Owner-occupied commercial 2,240,048 3,388 2,243,436 1-4 family mortgage 1,136,601 2,044 1,138,645 Other mortgage 3,619,109 4,962 3,624,071 Total real estate - mortgage 6,995,758 10,394 7,006,152 Consumer 71,973 81 72,054 Total $ 11,611,969 $ 17,833 $ 11,629,802 December 31, 2022 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 3,138,014 $ 7,303 $ 3,145,317 Real estate - construction 1,532,388 - 1,532,388 Real estate - mortgage: Owner-occupied commercial 2,195,968 3,312 2,199,280 1-4 family mortgage 1,144,713 2,118 1,146,831 Other mortgage 3,592,732 5,018 3,597,750 Total real estate - mortgage 6,933,413 10,448 6,943,861 Consumer 66,312 90 66,402 Total $ 11,670,127 $ 17,841 $ 11,687,968 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2023 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 $ 1,023 $ 1,153 $ 139 $ 2,315 $ 7,219 $ 3,072,392 $ 3,081,926 $ 1,014 Real estate - construction - - - - - 1,469,670 1,469,670 - Real estate - mortgage: Owner-occupied commercial 3,030 370 - 3,400 3,388 2,236,648 2,243,436 3,222 1-4 family mortgage 5,998 558 - 6,556 2,044 1,130,045 1,138,645 177 Other mortgage - - 4,456 4,456 506 3,619,109 3,624,071 506 Total real estate - mortgage 9,028 928 4,456 14,412 5,938 6,985,802 7,006,152 3,905 Consumer 94 64 81 239 - 71,815 72,054 - Total $ 10,145 $ 2,145 $ 4,676 $ 16,966 $ 13,157 $ 11,599,679 $ 11,629,802 $ 4,919 December 31, 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 $ 1,075 $ 409 $ 195 $ 1,679 $ 7,108 $ 3,136,530 3,145,317 $ 3,238 Real estate - construction - 711 - 711 - 1,531,677 1,532,388 - Real estate - mortgage: Owner-occupied commercial 83 452 - 535 3,312 2,195,433 2,199,280 57 1-4 family mortgage 405 580 594 1,579 1,524 1,143,728 1,146,831 491 Other mortgage 231 - 4,512 4,743 506 3,592,501 3,597,750 - Total real estate - mortgage 719 1,032 5,106 6,857 5,342 6,931,662 6,943,861 548 Consumer 174 128 90 392 - 66,010 66,402 621 Total $ 1,968 $ 2,280 $ 5,391 $ 9,639 $ 12,450 $ 11,665,879 11,687,968 $ 4,407 |
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 March 31, 2023 Allowance for credit losses: Balance at January 1, 2023 $ 42,830 $ 42,889 $ 58,652 $ 1,926 $ 146,297 Charge-offs (1,257 ) - (26 ) (390 ) (1,673 ) Recoveries 128 3 1 11 143 Provision 1,193 (2,409 ) 4,530 883 4,197 Balance at March 31, 2023 $ 42,895 $ 40,483 $ 63,157 $ 2,430 $ 148,965 Three Months Ended March 31, 2022 Allowance for credit losses: Balance at January 1, 2022 $ 41,869 $ 26,994 $ 45,829 $ 1,968 $ 116,660 Charge-offs (2,574 ) - (27 ) (75 ) (2,676 ) Recoveries 105 - 12 - 117 Provision 2,017 827 2,734 (216 ) 5,362 Balance at March 31, 2022 $ 41,417 $ 27,821 $ 48,548 $ 1,677 $ 119,463 |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | Accounts ACL March 31, 2023 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 21,757 $ 7,468 $ 831 $ 24,524 $ 54,580 $ 10,558 Real estate - construction 872 - - 1,184 2,056 5 Real estate - mortgage: Owner-occupied commercial 10,935 - - 48 10,983 207 1-4 family mortgage 3,746 - - - 3,746 291 Other mortgage 11,258 - - - 11,258 76 Total real estate - mortgage 25,939 - - 48 25,987 574 Consumer - - - - - - Total $ 48,568 $ 7,468 $ 831 $ 25,756 $ 82,623 $ 11,137 Accounts ACL December 31, 2022 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 20,061 $ 12,092 $ 837 $ 24,998 $ 57,988 $ 9,910 Real estate - construction - - - 1,198 1,198 7 Real estate - mortgage: Owner-occupied commercial 8,573 - - 74 8,647 154 1-4 family mortgage 3,260 - - - 3,260 316 Other mortgage 12,311 - - - 12,311 - Total real estate - mortgage 24,144 - - 74 24,218 470 Consumer - - - - - - Total $ 44,205 $ 12,092 $ 837 $ 26,270 $ 83,404 $ 10,387 |
Financing Receivable, Modified [Table Text Block] | Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 39,978 $ - $ 39,978 0.34 % Real estate - construction 200 - 200 - % Owner-occupied commercial 9,215 701 9,916 0.09 % 1-4 family mortgage 214 - 214 - % Other mortgage 11,254 359 11,613 0.10 % Total $ 60,861 $ 1,060 $ 61,921 0.53 % Term Total Payment Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 3 to 12 $ - Real estate - construction 6 - Owner-occupied commercial 3 to 18 49 1-4 family mortgage 3 - Other mortgage 3 to 36 59 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | March 31, 2023 (In Thousands) 2023 (remaining) $ 3,864 2024 3,768 2025 3,672 2026 3,066 2027 2,588 thereafter 6,079 Total lease payments 23,037 Less: imputed interest (2,339 ) Present value of operating lease liabilities $ 20,698 |
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2023 2022 Operating lease cost $ 1,230 $ 1,043 Variable lease cost 191 148 Sublease income (8 ) (24 ) Net lease cost $ 1,413 $ 1,167 |
Note 7 - Employee and Directo_2
Note 7 - Employee and Director Benefits (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Exercise Contractual Aggregate Shares Price Term (years) Intrinsic Value (In Thousands) Three Months Ended March 31, 2023: Outstanding January 1, 2023 280,000 $ 19.43 3.0 $ 14,088 Exercised (75,000 ) 10.80 0.9 3,288 Outstanding March 31, 2023 205,000 $ 22.59 3.4 $ 7,428 Exercisable March 31, 2023 152,000 $ 17.28 2.2 $ 5,859 Three Months Ended March 31, 2022: Outstanding January 1, 2022 353,250 $ 19.28 3.8 $ 23,525 Exercised (36,500 ) 18.65 3.1 2,677 Outstanding March 31, 2022 316,750 $ 19.35 3.7 $ 24,446 Exercisable March 31, 2022 255,000 $ 14.79 2.8 $ 20,056 |
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 Three Months Ended March 31, 2023: Non-vested at January 1, 2023 141,580 $ 56.39 23,852 $ 54.16 Granted 27,258 69.83 8,091 70.29 Vested (17,521 ) 48.32 - - Forfeited (6,545 ) 69.90 - - Non-vested at March 31, 2023 144,772 $ 59.29 31,943 $ 58.25 Three Months Ended March 31, 2022: Non-vested at January 1, 2022 127,602 $ 42.27 12,437 $ 37.05 Granted 27,851 84.67 6,557 74.52 Vested (9,612 ) 42.23 - - Forfeited (877 ) 40.72 - - Non-vested at March 31, 2022 144,964 $ 50.43 18,994 $ 49.99 |
Note 11 - Fair Value Measurem_2
Note 11 - Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at March 31, 2023 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 $ 2,990 $ - $ - $ 2,990 Government agency securities - 4 - 4 Mortgage-backed securities - 243,031 - 243,031 State and municipal securities - 13,311 - 13,311 Corporate debt - 358,752 6,860 365,612 Total available-for-sale debt securities 2,990 615,098 6,860 624,948 Interest rate cap derivative - 1,181 - 1,181 Total assets at fair value $ 2,990 $ 616,279 $ 6,860 $ 626,129 Fair Value Measurements at December 31, 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 $ 2,969 $ - $ - $ 2,969 Government agency securities - 9 - 9 Mortgage-backed securities - 249,703 - 249,703 State and municipal securities - 13,609 - 13,609 Corporate debt - 367,665 10,860 378,525 Total available-for-sale debt securities 2,969 630,986 10,860 644,815 Interest rate cap derivative - 4,201 - 4,201 Total assets at fair value $ 2,969 $ 635,187 $ 10,860 $ 649,016 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at March 31, 2023 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 71,486 $ 71,486 Other real estate owned and repossessed assets - - 248 248 Total assets at fair value $ - $ - $ 71,734 $ 71,734 Fair Value Measurements at December 31, 2022 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 73,017 $ 73,017 Other real estate owned - - 248 248 Total assets at fair value $ - $ - $ 73,265 $ 73,265 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | For the period ended March 31, 2023 2022 Available-for-sale Securities Available-for-sale Securities (In Thousands) Fair value, beginning of period $ 10,860 $ 16,992 Transfers into Level 3 - - 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 160 (343 ) Purchases - - Transfers out of Level 3 (4,160 ) (5,149 ) Fair value, end of period $ 6,860 $ 11,500 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2023 December 31, 2022 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 864,493 $ 864,493 $ 814,538 $ 814,538 Held to maturity U.S. Treasury securities 507,601 477,580 507,601 470,954 Level 2 Inputs: Federal funds sold 6,478 6,478 1,515 1,515 Held to maturity debt securites 506,342 453,162 526,720 464,749 Mortgage loans held for sale 1,651 1,642 1,607 1,604 Restricted equity securities 7,307 7,307 7,734 7,734 Level 3 Inputs: Held to maturity debt securites 250 250 250 250 Loans, net 11,480,837 11,145,529 11,541,671 11,265,517 Financial Liabilities: Level 2 Inputs: Deposits $ 11,615,317 $ 11,602,610 $ 11,546,805 $ 11,529,647 Federal funds purchased 1,480,160 1,480,160 1,618,798 1,618,798 Other borrowings 65,417 57,340 64,726 57,101 |
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 | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Weighted average common shares outstanding (in shares) | 54,360,253 | 54,263,143 |
Net income available to common stockholders | $ 57,971 | $ 57,613 |
Basic earnings per common share (in dollars per share) | $ 1.07 | $ 1.06 |
Dilutive effects of assumed conversions and exercise of stock options and warrants (in shares) | 174,229 | 258,899 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 54,534,482 | 54,522,042 |
Net income available to common stockholders | $ 57,971 | $ 57,613 |
Diluted earnings per common share (in dollars per share) | $ 1.06 | $ 1.06 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Current | $ 0 | $ 0 |
Debt Securities, Available-for-Sale, Allowance for Credit Loss | 0 | |
US Treasury Securities and Residential Mortgage-Backed Securities [Member] | ||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Available-for-Sale, Allowance for Credit Loss | 0 | 0 |
Asset Not Pledged as Collateral and Asset Pledged as Collateral without Right [Member] | ||
Debt Securities | $ 834,900 | $ 789,300 |
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 | Mar. 31, 2023 | Dec. 31, 2022 | |
Available for sale, amortized cost | $ 688,397 | $ 707,376 | |
Available for sale, gross unrealized gain | 12 | 6 | |
Available for sale, gross unrealized loss | (63,461) | (62,567) | |
Available for sale, fair value | 624,948 | 644,815 | [1] |
Held to maturity, amortized cost | 1,021,989 | 1,034,121 | [1] |
Held to maturity, gross unrealized gain | 10 | 7 | |
Held to maturity, gross unrealized loss | (84,038) | (98,175) | |
Held to maturity debt securities, fair value | 937,961 | 935,953 | [1] |
US Treasury Securities [Member] | |||
Available for sale, amortized cost | 3,001 | 3,002 | |
Available for sale, gross unrealized gain | 0 | 0 | |
Available for sale, gross unrealized loss | (11) | (33) | |
Available for sale, fair value | 2,990 | 2,969 | |
Held to maturity, amortized cost | 507,601 | 507,151 | |
Held to maturity, gross unrealized gain | 0 | 0 | |
Held to maturity, gross unrealized loss | (30,021) | (36,197) | |
Held to maturity debt securities, fair value | 477,580 | 470,954 | |
US Government Agencies Debt Securities [Member] | |||
Available for sale, amortized cost | 4 | 9 | |
Available for sale, gross unrealized gain | 0 | 0 | |
Available for sale, gross unrealized loss | 0 | 0 | |
Available for sale, fair value | 4 | 9 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, amortized cost | 272,070 | 282,480 | |
Available for sale, gross unrealized gain | 7 | 5 | |
Available for sale, gross unrealized loss | (29,046) | (32,782) | |
Available for sale, fair value | 243,031 | 249,703 | |
Held to maturity, amortized cost | 506,342 | 518,929 | |
Held to maturity, gross unrealized gain | 10 | 7 | |
Held to maturity, gross unrealized loss | (53,190) | (60,960) | |
Held to maturity debt securities, fair value | 453,162 | 457,976 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, amortized cost | 14,646 | 15,205 | |
Available for sale, gross unrealized gain | 2 | 1 | |
Available for sale, gross unrealized loss | (1,337) | (1,597) | |
Available for sale, fair value | 13,311 | 13,609 | |
Held to maturity, amortized cost | 8,046 | 8,041 | |
Held to maturity, gross unrealized gain | 0 | 0 | |
Held to maturity, gross unrealized loss | (827) | (1,018) | |
Held to maturity debt securities, fair value | 7,219 | 7,023 | |
Corporate Debt Securities [Member] | |||
Available for sale, amortized cost | 398,676 | 406,680 | |
Available for sale, gross unrealized gain | 3 | 0 | |
Available for sale, gross unrealized loss | (33,067) | (28,155) | |
Available for sale, fair value | $ 365,612 | $ 378,525 | |
[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 | Mar. 31, 2023 | Dec. 31, 2022 | |
Due within one year, amortized cost | $ 24,422 | $ 24,712 | |
Due within one year, fair value | 24,042 | 24,432 | |
Due from one to five years, amortized cost | 59,243 | 58,554 | |
Due from one to five years, fair value | 57,178 | 57,092 | |
Due from five to ten years, amortized cost | 329,662 | 338,630 | |
Due from five to ten years, fair value | 298,353 | 311,100 | |
Due after ten years, amortized cost | 3,000 | 3,000 | |
Due after ten years, fair value | 2,344 | 2,488 | |
Mortgage-backed securities, amortized cost | 272,070 | 282,480 | |
Mortgage-backed securities, fair value | 243,031 | 249,703 | |
Available for sale, amortized cost | 688,397 | 707,376 | |
Available for sale, fair value | 624,948 | 644,815 | [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 | 386,897 | 386,465 | |
Held to maturity debt securities, Due from one to five years | 370,166 | 366,095 | |
Held to maturity debt securities, Due from five to ten years | 128,500 | 128,477 | |
Held to maturity debt securities, Due from five to ten years | 114,383 | 111,632 | |
Held to maturity debt securities, Due after ten years | 0 | 0 | |
Held to maturity debt securities, Due after ten years | 0 | 0 | |
Mortgage-backed securities, amortized cost | 506,342 | 518,929 | |
Mortgage-backed securities, fair value | 453,162 | 457,976 | |
Held to maturity, amortized cost | 1,021,989 | 1,034,121 | |
Held to maturity debt securities, fair value | $ 937,961 | $ 935,953 | [1] |
[1]derived from audited financial statements. |
Note 4 - Securities - Investmen
Note 4 - Securities - Investment Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Debt securities available for sale, less than twelve months, gross unrealized losses | $ (9,200) | $ (22,258) |
Debt securities available for sale, less than twelve months, fair value | 175,163 | 372,749 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (54,261) | (40,309) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 436,079 | 260,400 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (63,461) | (62,567) |
Debt Securities, Available for Sale, Fair Value | 611,242 | 633,149 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (4,323) | (44,573) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 162,467 | 578,572 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (79,715) | (53,603) |
U.S. Treasury Securities | 770,902 | 352,742 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (84,038) | (98,175) |
Debt Securities,Held To Maturity, Fair Value | 933,369 | 931,314 |
US Treasury Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | 0 | (33) |
Debt securities available for sale, less than twelve months, fair value | 0 | 2,969 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (11) | 0 |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 2,990 | 0 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (11) | (33) |
Debt Securities, Available for Sale, Fair Value | 2,990 | 2,969 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (2,678) | (12,662) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 130,640 | 295,383 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (27,343) | (23,537) |
U.S. Treasury Securities | 346,939 | 175,570 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (30,021) | (36,197) |
Debt Securities,Held To Maturity, Fair Value | 477,579 | 470,953 |
US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | 0 | 0 |
Debt securities available for sale, less than twelve months, fair value | 4 | 9 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | 0 | 0 |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 0 | 0 |
Debt Securities, Available for Sale, Gross Unrealized Losses | 0 | 0 |
Debt Securities, Available for Sale, Fair Value | 4 | 9 |
Collateralized Mortgage-Backed Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (364) | (3,473) |
Debt securities available for sale, less than twelve months, fair value | 8,468 | 60,234 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (28,682) | (29,309) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 233,956 | 189,109 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (29,046) | (32,782) |
Debt Securities, Available for Sale, Fair Value | 242,424 | 249,343 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (1,645) | (31,367) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 31,827 | 278,746 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (51,545) | (29,592) |
U.S. Treasury Securities | 416,994 | 174,842 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (53,190) | (60,960) |
Debt Securities,Held To Maturity, Fair Value | 448,821 | 453,588 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (27) | (186) |
Debt securities available for sale, less than twelve months, fair value | 3,328 | 5,283 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (1,310) | (1,411) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 9,202 | 7,880 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (1,337) | (1,597) |
Debt Securities, Available for Sale, Fair Value | 12,530 | 13,163 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | 0 | (544) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 0 | 4,443 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (827) | (474) |
U.S. Treasury Securities | 6,969 | 2,330 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (827) | (1,018) |
Debt Securities,Held To Maturity, Fair Value | 6,969 | 6,773 |
Corporate Debt Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (8,809) | (18,566) |
Debt securities available for sale, less than twelve months, fair value | 163,363 | 304,254 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (24,258) | (9,589) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 189,931 | 63,411 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (33,067) | (28,155) |
Debt Securities, Available for Sale, Fair Value | $ 353,294 | $ 367,666 |
Note 4 - Securities - Sales and
Note 4 - Securities - Sales and Calls of Debt Securities for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Sale proceeds | $ 0 | $ 45,394 |
Gross realized gains | 0 | 0 |
Gross realized losses | 0 | (3,335) |
Net realized losses | $ 0 | $ (3,335) |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) Pure in Thousands, $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | ||
Financing Receivable, Allowance for Credit Loss | $ 148,965 | $ 119,463 | $ 146,297 | [1] | $ 116,660 |
Financing Receivable, Credit Loss, Expense (Reversal) | 4,197 | 5,362 | |||
Financing Receivable, Modified, Commitment to Lend | $ 17,700 | ||||
Financing Receivable, Modified, Subsequent Default, Number of Contracts | 0 | ||||
Financing Receivable, Modified, Accumulated | $ 2,500 | 2,500 | |||
Financing Receivable, Modifications, Recorded Investment, Accruing Interest | 431,000 | 426,000 | |||
Financing Receivable, Modified, Number of Contracts | 0 | ||||
Unfunded Loan Commitment [Member] | |||||
Financing Receivable, Allowance for Credit Loss | $ 575,000 | $ 575,000 | |||
Financing Receivable, Credit Loss, Expense (Reversal) | $ 0 | $ 300,000 | |||
[1]derived from audited financial statements. |
Note 5 - Loans - Summary of Loa
Note 5 - Loans - Summary of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Total loans | $ 11,629,802 | $ 11,687,968 | [1] | ||
Less: Allowance for credit losses | (148,965) | (146,297) | [1] | $ (119,463) | $ (116,660) |
Net Loans | $ 11,480,837 | $ 11,541,671 | [1] | ||
Financing receivable, gross percentage | 100% | 100% | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Total loans | $ 3,081,926 | $ 3,145,317 | |||
Less: Allowance for credit losses | (41,417) | (41,869) | |||
Financing receivable, gross percentage | 26.50% | 26.91% | |||
Real Estate Portfolio Segment[Member] | |||||
Total loans | $ 7,006,152 | $ 6,943,861 | |||
Financing receivable, gross percentage | 60.24% | 59.41% | |||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Total loans | $ 1,469,670 | $ 1,532,388 | |||
Less: Allowance for credit losses | $ (40,483) | $ (42,889) | (27,821) | (26,994) | |
Financing receivable, gross percentage | 12.64% | 13.11% | |||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Total loans | $ 2,243,436 | $ 2,199,280 | |||
Financing receivable, gross percentage | 19.29% | 18.82% | |||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Total loans | $ 1,138,645 | $ 1,146,831 | |||
Financing receivable, gross percentage | 9.79% | 9.81% | |||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Total loans | $ 3,624,071 | $ 3,597,750 | |||
Financing receivable, gross percentage | 31.16% | 30.78% | |||
Consumer Portfolio Segment [Member] | |||||
Total loans | $ 72,054 | $ 66,402 | |||
Less: Allowance for credit losses | $ (2,430) | $ (1,926) | $ (1,677) | $ (1,968) | |
Financing receivable, gross percentage | 0.62% | 0.57% | |||
[1]derived from audited financial statements. |
Note 5 - Loans - Loans by Credi
Note 5 - Loans - Loans by Credit Quality Indicators, Loans Type and Year of Origination (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | ||
Originated current year | $ 323,608 | $ 3,184,887 | ||
Originated year two | 3,123,414 | 2,897,101 | ||
Originated year three | 2,844,575 | 1,349,872 | ||
Originated year four | 1,280,656 | 809,041 | ||
Originated year five | 721,694 | 435,399 | ||
Originated prior | 1,552,406 | 1,209,613 | ||
Revolving | 1,781,412 | 1,802,055 | ||
Revolving converted to term | 2,038 | |||
Total loans | 11,629,802 | 11,687,968 | [1] | |
Current-period gross charge-offs, current year | 0 | |||
Current-period gross charge-offs, year two | 616 | |||
Current-period gross charge-offs, year three | 0 | |||
Current-period gross charge-offs, year four | 0 | |||
Current-period gross charge-offs, year five | 26 | |||
Current-period gross charge-offs, prior | 428 | |||
Current-period gross charge-offs, revolving | 603 | |||
Current-period gross charge-offs, revolving converted to term | 0 | |||
Current-period gross charge-offs | 1,673 | $ 2,676 | ||
Performing Financial Instruments [Member] | ||||
Total loans | 11,611,969 | 11,670,127 | ||
Nonperforming Financial Instruments [Member] | ||||
Total loans | 17,833 | 17,841 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Originated current year | 160,551 | |||
Originated year two | 549,959 | |||
Originated year three | 478,760 | |||
Originated year four | 211,154 | |||
Originated year five | 148,035 | |||
Originated prior | 228,938 | |||
Revolving | 1,303,811 | |||
Revolving converted to term | 717 | |||
Total loans | 3,081,926 | 3,145,317 | ||
Current-period gross charge-offs, current year | 0 | |||
Current-period gross charge-offs, year two | 616 | |||
Current-period gross charge-offs, year three | 0 | |||
Current-period gross charge-offs, year four | 0 | |||
Current-period gross charge-offs, year five | 0 | |||
Current-period gross charge-offs, prior | 428 | |||
Current-period gross charge-offs, revolving | 212 | |||
Current-period gross charge-offs, revolving converted to term | 0 | |||
Current-period gross charge-offs | 1,257 | 2,574 | ||
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Total loans | 3,074,568 | 3,138,014 | ||
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Total loans | 7,358 | 7,303 | ||
Real Estate Portfolio Segment[Member] | ||||
Total loans | 7,006,152 | 6,943,861 | ||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Originated current year | 37,212 | 621,078 | ||
Originated year two | 663,794 | 638,126 | ||
Originated year three | 556,953 | 156,834 | ||
Originated year four | 105,265 | 15,197 | ||
Originated year five | 4,761 | 13,261 | ||
Originated prior | 23,647 | 15,720 | ||
Revolving | 77,837 | 72,172 | ||
Revolving converted to term | 201 | |||
Total loans | 1,469,670 | 1,532,388 | ||
Current-period gross charge-offs | 0 | |||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 29,715 | 426,683 | ||
Originated year two | 443,756 | |||
Originated year three | 537,629 | 352,375 | ||
Originated year four | 353,489 | 202,783 | ||
Originated year five | 197,461 | 161,886 | ||
Originated prior | 615,647 | 493,416 | ||
Revolving | 64,867 | 65,839 | ||
Revolving converted to term | 874 | |||
Total loans | 2,243,436 | 2,199,280 | ||
Current-period gross charge-offs, current year | 0 | |||
Current-period gross charge-offs, year two | 0 | |||
Current-period gross charge-offs, year three | 0 | |||
Current-period gross charge-offs, year four | 0 | |||
Current-period gross charge-offs, year five | 26 | |||
Current-period gross charge-offs, prior | 0 | |||
Current-period gross charge-offs, revolving | 0 | |||
Current-period gross charge-offs, revolving converted to term | 0 | |||
Current-period gross charge-offs | 26 | |||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Originated current year | 40,954 | 389,093 | ||
Originated year two | 383,803 | 274,239 | ||
Originated year three | 254,307 | 94,492 | ||
Originated year four | 92,822 | 53,232 | ||
Originated year five | 52,668 | 29,639 | ||
Originated prior | 83,349 | 59,617 | ||
Revolving | 230,742 | 246,519 | ||
Revolving converted to term | 0 | |||
Total loans | 1,138,645 | 1,146,831 | ||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Originated current year | 31,821 | 1,027,978 | ||
Originated year two | 1,075,495 | 976,208 | ||
Originated year three | 1,011,383 | 517,392 | ||
Originated year four | 515,230 | 380,234 | ||
Originated year five | 317,125 | 134,797 | ||
Originated prior | 597,623 | 485,472 | ||
Revolving | 75,148 | 75,669 | ||
Revolving converted to term | 246 | |||
Total loans | 3,624,071 | 3,597,750 | ||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | ||||
Total loans | 6,995,758 | 6,933,413 | ||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||||
Total loans | 1,469,670 | 1,532,388 | ||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||
Total loans | 2,240,048 | 2,195,968 | ||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||||
Total loans | 1,136,601 | 1,144,713 | ||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||||
Total loans | 3,619,109 | 3,592,732 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | ||||
Total loans | 10,394 | 10,448 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||||
Total loans | 0 | 0 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||
Total loans | 3,388 | 3,312 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||||
Total loans | 2,044 | 2,118 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||||
Total loans | 4,962 | 5,018 | ||
Consumer Portfolio Segment [Member] | ||||
Originated current year | 23,355 | 21,132 | ||
Originated year two | 6,607 | |||
Originated year three | 5,542 | 4,203 | ||
Originated year four | 2,697 | 1,759 | ||
Originated year five | 1,644 | 440 | ||
Originated prior | 3,202 | 3,002 | ||
Revolving | 29,007 | 30,021 | ||
Revolving converted to term | 0 | |||
Total loans | 72,054 | 66,402 | ||
Current-period gross charge-offs, current year | 0 | |||
Current-period gross charge-offs, year two | 0 | |||
Current-period gross charge-offs, year three | 0 | |||
Current-period gross charge-offs, year four | 0 | |||
Current-period gross charge-offs, year five | 0 | |||
Current-period gross charge-offs, prior | 0 | |||
Current-period gross charge-offs, revolving | 391 | |||
Current-period gross charge-offs, revolving converted to term | 0 | |||
Current-period gross charge-offs | 391 | $ 75 | ||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Total loans | 71,973 | 66,312 | ||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Total loans | 81 | 90 | ||
Pass [Member] | ||||
Originated current year | 322,112 | 3,172,373 | ||
Originated year two | 3,108,059 | 2,892,640 | ||
Originated year three | 2,835,691 | 1,347,172 | ||
Originated year four | 1,277,114 | 793,843 | ||
Originated year five | 698,931 | 407,411 | ||
Originated prior | 1,480,009 | 1,158,865 | ||
Revolving | 1,721,129 | 1,752,649 | ||
Revolving converted to term | 1,819 | |||
Total loans | 11,444,866 | 11,524,953 | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Originated current year | 160,551 | 691,817 | ||
Originated year two | 540,101 | 502,648 | ||
Originated year three | 471,521 | 223,096 | ||
Originated year four | 208,825 | 144,587 | ||
Originated year five | 136,657 | 78,477 | ||
Originated prior | 192,509 | 134,893 | ||
Revolving | 1,252,905 | 1,267,333 | ||
Revolving converted to term | 699 | |||
Total loans | 2,963,768 | 3,042,851 | ||
Pass [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Originated current year | 37,212 | 618,578 | ||
Originated year two | 661,294 | 638,126 | ||
Originated year three | 556,953 | 156,834 | ||
Originated year four | 105,265 | 15,197 | ||
Originated year five | 4,761 | 12,063 | ||
Originated prior | 21,591 | 14,847 | ||
Revolving | 77,837 | 72,172 | ||
Revolving converted to term | 0 | |||
Total loans | 1,464,913 | 1,527,817 | ||
Pass [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 28,219 | 424,321 | ||
Originated year two | 441,407 | 496,298 | ||
Originated year three | 536,773 | 352,375 | ||
Originated year four | 353,489 | 199,987 | ||
Originated year five | 187,145 | 157,204 | ||
Originated prior | 600,679 | 477,926 | ||
Revolving | 63,267 | 64,152 | ||
Revolving converted to term | 874 | |||
Total loans | 2,211,853 | 2,172,263 | ||
Pass [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Originated current year | 40,954 | 388,778 | ||
Originated year two | 383,389 | 273,515 | ||
Originated year three | 253,519 | 93,272 | ||
Originated year four | 91,609 | 52,209 | ||
Originated year five | 51,728 | 28,999 | ||
Originated prior | 80,635 | 57,512 | ||
Revolving | 222,966 | 243,302 | ||
Revolving converted to term | 0 | |||
Total loans | 1,124,800 | 1,137,587 | ||
Pass [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Originated current year | 31,821 | 1,027,747 | ||
Originated year two | 1,075,262 | 976,208 | ||
Originated year three | 1,011,383 | 517,392 | ||
Originated year four | 515,230 | 380,104 | ||
Originated year five | 316,995 | 130,228 | ||
Originated prior | 581,406 | 470,699 | ||
Revolving | 75,148 | 75,669 | ||
Revolving converted to term | 246 | |||
Total loans | 3,607,491 | 3,578,047 | ||
Pass [Member] | Consumer Portfolio Segment [Member] | ||||
Originated current year | 23,355 | 21,132 | ||
Originated year two | 6,607 | 5,845 | ||
Originated year three | 5,542 | 4,203 | ||
Originated year four | 2,697 | 1,759 | ||
Originated year five | 1,644 | 440 | ||
Originated prior | 3,190 | 2,988 | ||
Revolving | 29,007 | 30,021 | ||
Revolving converted to term | 0 | |||
Total loans | 72,042 | 66,388 | ||
Special Mention [Member] | ||||
Originated current year | 1,496 | 12,314 | ||
Originated year two | 14,133 | 4,182 | ||
Originated year three | 7,070 | 1,917 | ||
Originated year four | 2,761 | 4,846 | ||
Originated year five | 10,047 | 5,546 | ||
Originated prior | 16,586 | 16,744 | ||
Revolving | 49,938 | 34,057 | ||
Revolving converted to term | 219 | |||
Total loans | 102,250 | 79,606 | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Originated current year | 0 | 6,906 | ||
Originated year two | 8,870 | 3,737 | ||
Originated year three | 5,850 | 1,101 | ||
Originated year four | 1,953 | 1,748 | ||
Originated year five | 1,877 | 570 | ||
Originated prior | 4,151 | 898 | ||
Revolving | 40,868 | 29,516 | ||
Revolving converted to term | 18 | |||
Total loans | 63,588 | 44,476 | ||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Originated current year | 0 | 2,500 | ||
Originated year two | 2,500 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 0 | 873 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 201 | |||
Total loans | 2,701 | 3,373 | ||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 1,496 | 2,362 | ||
Originated year two | 2,349 | 0 | ||
Originated year three | 856 | 0 | ||
Originated year four | 0 | 2,723 | ||
Originated year five | 7,909 | 4,682 | ||
Originated prior | 6,391 | 6,917 | ||
Revolving | 1,601 | 1,687 | ||
Revolving converted to term | 0 | |||
Total loans | 20,601 | 18,371 | ||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Originated current year | 0 | 315 | ||
Originated year two | 414 | 445 | ||
Originated year three | 365 | 816 | ||
Originated year four | 808 | 375 | ||
Originated year five | 261 | 294 | ||
Originated prior | 1,576 | 881 | ||
Revolving | 7,469 | 2,854 | ||
Revolving converted to term | 0 | |||
Total loans | 10,893 | 5,980 | ||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Originated current year | 0 | 231 | ||
Originated year two | 0 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 4,456 | 7,161 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | |||
Total loans | 4,456 | 7,392 | ||
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 12 | 14 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | |||
Total loans | 12 | 14 | ||
Substandard [Member] | ||||
Originated current year | 200 | |||
Originated year two | 279 | |||
Originated year three | 783 | |||
Originated year four | 10,352 | |||
Originated year five | 22,442 | |||
Originated prior | 34,004 | |||
Revolving | 15,349 | |||
Total loans | 83,409 | |||
Substandard [Member] | Performing Financial Instruments [Member] | ||||
Originated current year | 0 | |||
Originated year two | 524 | |||
Originated year three | 1,244 | |||
Originated year four | 376 | |||
Originated year five | 11,998 | |||
Originated prior | 48,128 | |||
Revolving | 7,260 | |||
Revolving converted to term | 0 | |||
Total loans | 69,530 | |||
Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Originated current year | 0 | |||
Originated year two | 697 | |||
Originated year three | 570 | |||
Originated year four | 405 | |||
Originated year five | 718 | |||
Originated prior | 7,683 | |||
Revolving | 3,084 | |||
Revolving converted to term | 0 | |||
Total loans | 13,157 | |||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Originated current year | 200 | |||
Originated year two | 0 | |||
Originated year three | 379 | |||
Originated year four | 9,501 | |||
Originated year five | 16,329 | |||
Originated prior | 16,595 | |||
Revolving | 14,986 | |||
Total loans | 57,990 | |||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Originated current year | 0 | |||
Originated year two | 291 | |||
Originated year three | 1,244 | |||
Originated year four | 376 | |||
Originated year five | 9,501 | |||
Originated prior | 28,933 | |||
Revolving | 7,007 | |||
Revolving converted to term | 0 | |||
Total loans | 47,352 | |||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Originated current year | 0 | |||
Originated year two | 697 | |||
Originated year three | 146 | |||
Originated year four | 0 | |||
Originated year five | 0 | |||
Originated prior | 3,345 | |||
Revolving | 3,030 | |||
Revolving converted to term | 0 | |||
Total loans | 7,219 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 0 | |||
Originated year five | 1,198 | |||
Originated prior | 0 | |||
Revolving | 0 | |||
Total loans | 1,198 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 73 | |||
Originated year five | 0 | |||
Originated prior | 8,573 | |||
Revolving | 0 | |||
Total loans | 8,646 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Originated current year | 0 | |||
Originated year two | 279 | |||
Originated year three | 404 | |||
Originated year four | 648 | |||
Originated year five | 346 | |||
Originated prior | 1,224 | |||
Revolving | 363 | |||
Total loans | 3,264 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 130 | |||
Originated year five | 4,569 | |||
Originated prior | 7,612 | |||
Revolving | 0 | |||
Total loans | 12,311 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 0 | |||
Originated year five | 0 | |||
Originated prior | 2,057 | |||
Revolving | 0 | |||
Revolving converted to term | 0 | |||
Total loans | 2,057 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 0 | |||
Originated year five | 2,358 | |||
Originated prior | 5,237 | |||
Revolving | 0 | |||
Revolving converted to term | 0 | |||
Total loans | 7,595 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 0 | |||
Originated year five | 139 | |||
Originated prior | 516 | |||
Revolving | 253 | |||
Revolving converted to term | 0 | |||
Total loans | 908 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||||
Originated current year | 0 | |||
Originated year two | 233 | |||
Originated year three | 0 | |||
Originated year four | 0 | |||
Originated year five | 0 | |||
Originated prior | 11,385 | |||
Revolving | 0 | |||
Revolving converted to term | 0 | |||
Total loans | 11,618 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 0 | |||
Originated year five | 48 | |||
Originated prior | 3,340 | |||
Revolving | 0 | |||
Revolving converted to term | 0 | |||
Total loans | 3,388 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 423 | |||
Originated year four | 405 | |||
Originated year five | 540 | |||
Originated prior | 622 | |||
Revolving | 54 | |||
Revolving converted to term | 0 | |||
Total loans | 2,044 | |||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 0 | |||
Originated year five | 130 | |||
Originated prior | 376 | |||
Revolving | 0 | |||
Revolving converted to term | 0 | |||
Total loans | 506 | |||
Substandard [Member] | Consumer Portfolio Segment [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 0 | |||
Originated year five | 0 | |||
Originated prior | 0 | |||
Revolving | 0 | |||
Total loans | 0 | |||
Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Originated current year | 0 | |||
Originated year two | 0 | |||
Originated year three | 0 | |||
Originated year four | 0 | |||
Originated year five | 0 | |||
Originated prior | 0 | |||
Revolving | 0 | |||
Revolving converted to term | 0 | |||
Total loans | $ 0 | |||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Originated current year | 698,923 | |||
Originated year two | 506,385 | |||
Originated year three | 224,576 | |||
Originated year four | 155,836 | |||
Originated year five | 95,376 | |||
Originated prior | 152,386 | |||
Revolving | 1,311,835 | |||
Total loans | $ 3,145,317 | |||
[1]derived from audited financial statements. |
Note 5 - Loans - Loans by Perfo
Note 5 - Loans - Loans by Performance Status (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | |
Total loans | $ 11,629,802 | $ 11,687,968 | [1] |
Performing Financial Instruments [Member] | |||
Total loans | 11,611,969 | 11,670,127 | |
Nonperforming Financial Instruments [Member] | |||
Total loans | 17,833 | 17,841 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Total loans | 3,081,926 | 3,145,317 | |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Total loans | 3,074,568 | 3,138,014 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Total loans | 7,358 | 7,303 | |
Real Estate Portfolio Segment[Member] | |||
Total loans | 7,006,152 | 6,943,861 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Total loans | 1,469,670 | 1,532,388 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Total loans | 2,243,436 | 2,199,280 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Total loans | 1,138,645 | 1,146,831 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Total loans | 3,624,071 | 3,597,750 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | |||
Total loans | 6,995,758 | 6,933,413 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | |||
Total loans | 1,469,670 | 1,532,388 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 2,240,048 | 2,195,968 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | |||
Total loans | 1,136,601 | 1,144,713 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | |||
Total loans | 3,619,109 | 3,592,732 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | |||
Total loans | 10,394 | 10,448 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | |||
Total loans | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 3,388 | 3,312 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | |||
Total loans | 2,044 | 2,118 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | |||
Total loans | 4,962 | 5,018 | |
Consumer Portfolio Segment [Member] | |||
Total loans | 72,054 | 66,402 | |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Total loans | 71,973 | 66,312 | |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Total loans | $ 81 | $ 90 | |
[1]derived from audited financial statements. |
Note 5 - Loans - Loans Categori
Note 5 - Loans - Loans Categorized by Past Due Status (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | |
Total loans | $ 11,629,802 | $ 11,687,968 | [1] |
Non-accrual | 13,157 | 12,450 | |
Nonaccrual With No ACL | 4,919 | 4,407 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total loans | 10,145 | 1,968 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total loans | 2,145 | 2,280 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total loans | 4,676 | 5,391 | |
Financial Asset, Past Due [Member] | |||
Total loans | 16,966 | 9,639 | |
Financial Asset, Not Past Due [Member] | |||
Total loans | 11,599,679 | 11,665,879 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Total loans | 3,081,926 | 3,145,317 | |
Non-accrual | 7,219 | 7,108 | |
Nonaccrual With No ACL | 1,014 | 3,238 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total loans | 1,023 | 1,075 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total loans | 1,153 | 409 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total loans | 139 | 195 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Total loans | 2,315 | 1,679 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Total loans | 3,072,392 | 3,136,530 | |
Real Estate Portfolio Segment[Member] | |||
Total loans | 7,006,152 | 6,943,861 | |
Non-accrual | 5,938 | 5,342 | |
Nonaccrual With No ACL | 3,905 | 548 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Total loans | 1,469,670 | 1,532,388 | |
Non-accrual | 0 | 0 | |
Nonaccrual With No ACL | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Total loans | 2,243,436 | 2,199,280 | |
Non-accrual | 3,388 | 3,312 | |
Nonaccrual With No ACL | 3,222 | 57 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Total loans | 1,138,645 | 1,146,831 | |
Non-accrual | 2,044 | 1,524 | |
Nonaccrual With No ACL | 177 | 491 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Total loans | 3,624,071 | 3,597,750 | |
Non-accrual | 506 | 506 | |
Nonaccrual With No ACL | 506 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total loans | 9,028 | 719 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | |||
Total loans | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 3,030 | 83 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One to Four Family [Member] | |||
Total loans | 5,998 | 405 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 0 | 231 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total loans | 928 | 1,032 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | |||
Total loans | 0 | 711 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 370 | 452 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One to Four Family [Member] | |||
Total loans | 558 | 580 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total loans | 4,456 | 5,106 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | |||
Total loans | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | One to Four Family [Member] | |||
Total loans | 0 | 594 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 4,456 | 4,512 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | |||
Total loans | 14,412 | 6,857 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Construction Loans [Member] | |||
Total loans | 0 | 711 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 3,400 | 535 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | One to Four Family [Member] | |||
Total loans | 6,556 | 1,579 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 4,456 | 4,743 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | |||
Total loans | 6,985,802 | 6,931,662 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Construction Loans [Member] | |||
Total loans | 1,469,670 | 1,531,677 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 2,236,648 | 2,195,433 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | One to Four Family [Member] | |||
Total loans | 1,130,045 | 1,143,728 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 3,619,109 | 3,592,501 | |
Consumer Portfolio Segment [Member] | |||
Total loans | 72,054 | 66,402 | |
Non-accrual | 0 | 0 | |
Nonaccrual With No ACL | 0 | 621 | |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total loans | 94 | 174 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total loans | 64 | 128 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total loans | 81 | 90 | |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Total loans | 239 | 392 | |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Total loans | $ 71,815 | $ 66,010 | |
[1]derived from audited financial statements. |
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 | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Balance | $ 146,297 | [1] | $ 116,660 |
Charge-offs | (1,673) | (2,676) | |
Recoveries | 143 | 117 | |
Provision for credit losses | 4,197 | 5,362 | |
Balance | 148,965 | 119,463 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Balance | 41,869 | ||
Charge-offs | (1,257) | (2,574) | |
Recoveries | 105 | ||
Provision for credit losses | 2,017 | ||
Balance | 41,417 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial, Financial, and Agricultural Loans [Member] | |||
Balance | 42,830 | ||
Charge-offs | (1,257) | ||
Recoveries | 128 | ||
Provision for credit losses | 1,193 | ||
Balance | 42,895 | ||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Balance | 42,889 | 26,994 | |
Charge-offs | 0 | ||
Recoveries | 3 | 0 | |
Provision for credit losses | (2,409) | 827 | |
Balance | 40,483 | 27,821 | |
Real Estate Portfolio Segment[Member] | Real Estate Loan [Member] | |||
Balance | 58,652 | 45,829 | |
Charge-offs | (26) | (27) | |
Recoveries | 1 | 12 | |
Provision for credit losses | 4,530 | 2,734 | |
Balance | 63,157 | 48,548 | |
Consumer Portfolio Segment [Member] | |||
Balance | 1,926 | 1,968 | |
Charge-offs | (391) | (75) | |
Recoveries | 11 | 0 | |
Provision for credit losses | 883 | (216) | |
Balance | $ 2,430 | $ 1,677 | |
[1]derived from audited financial statements. |
Note 5 - Loans - Summary of Col
Note 5 - Loans - Summary of Collateral Types (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Financing receivable, gross | $ 11,629,802 | $ 11,687,968 | [1] | ||
Financing Receivable, Allowance for Credit Loss | 148,965 | 146,297 | [1] | $ 119,463 | $ 116,660 |
Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 3,081,926 | 3,145,317 | |||
Financing Receivable, Allowance for Credit Loss | 41,417 | 41,869 | |||
Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | 7,006,152 | 6,943,861 | |||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | 1,469,670 | 1,532,388 | |||
Financing Receivable, Allowance for Credit Loss | 40,483 | 42,889 | 27,821 | 26,994 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | 2,243,436 | 2,199,280 | |||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Financing receivable, gross | 1,138,645 | 1,146,831 | |||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Financing receivable, gross | 3,624,071 | 3,597,750 | |||
Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | 72,054 | 66,402 | |||
Financing Receivable, Allowance for Credit Loss | 2,430 | 1,926 | $ 1,677 | $ 1,968 | |
Real Estate [Member] | |||||
Financing receivable, gross | 48,568 | 44,205 | |||
Real Estate [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 21,757 | 20,061 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | 25,939 | 24,144 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | 872 | 0 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | 10,935 | 8,573 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Financing receivable, gross | 3,746 | 3,260 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Financing receivable, gross | 11,258 | 12,311 | |||
Real Estate [Member] | Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Collateral, Accounts Receivable [Member] | |||||
Financing receivable, gross | 7,468 | 12,092 | |||
Collateral, Accounts Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 7,468 | 12,092 | |||
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 | 831 | 837 | |||
Equipment [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 831 | 837 | |||
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 | 25,756 | 26,270 | |||
Collateral, Other [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 24,524 | 24,998 | |||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | 48 | 74 | |||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | 1,184 | ||||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | Collateral, Accounts Receivable [Member] | |||||
Financing receivable, gross | 1,198 | ||||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | 48 | 74 | |||
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 | 82,623 | 83,404 | |||
Financing Receivable, Allowance for Credit Loss | 11,137 | 10,387 | |||
Collateral Pledged [Member] | Construction Loans [Member] | |||||
Financing Receivable, Allowance for Credit Loss | 7 | ||||
Collateral Pledged [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 54,580 | 57,988 | |||
Financing Receivable, Allowance for Credit Loss | 10,558 | 9,910 | |||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | 25,987 | 24,218 | |||
Financing Receivable, Allowance for Credit Loss | 574 | 470 | |||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | 2,056 | 1,198 | |||
Financing Receivable, Allowance for Credit Loss | 5 | ||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | 10,983 | 8,647 | |||
Financing Receivable, Allowance for Credit Loss | 207 | 154 | |||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Financing receivable, gross | 3,746 | 3,260 | |||
Financing Receivable, Allowance for Credit Loss | 291 | 316 | |||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Financing receivable, gross | 11,258 | 12,311 | |||
Financing Receivable, Allowance for Credit Loss | 76 | 0 | |||
Collateral Pledged [Member] | Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Financing Receivable, Allowance for Credit Loss | $ 0 | $ 0 | |||
[1]derived from audited financial statements. |
Note 5 - Loans - Loans Modified
Note 5 - Loans - Loans Modified During Period (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Modified Amortized Cost | $ 2,500 | $ 2,500 |
Percentage of total loans | 0.53% | |
Extended Maturity [Member] | ||
Modified Amortized Cost | $ 60,861 | |
Payment Deferral [Member] | ||
Modified Amortized Cost | 1,060 | |
Extended Maturity and Payment Deferral [Member] | ||
Modified Amortized Cost | $ 61,921 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Percentage of total loans | 0.34% | |
Commercial, financial and agricultural | $ 0 | |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||
Modified Amortized Cost | 39,978 | |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||
Modified Amortized Cost | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity and Payment Deferral [Member] | ||
Modified Amortized Cost | $ 39,978 | |
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member] | ||
Term extension (Year) | 3 years | |
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | ||
Term extension (Year) | 12 years | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Percentage of total loans | 0% | |
Term extension (Year) | 6 years | |
Commercial, financial and agricultural | $ 0 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | Extended Maturity [Member] | ||
Modified Amortized Cost | 200 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | Payment Deferral [Member] | ||
Modified Amortized Cost | 0 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | Extended Maturity and Payment Deferral [Member] | ||
Modified Amortized Cost | $ 200 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Percentage of total loans | 0.09% | |
Commercial, financial and agricultural | $ 49 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | Extended Maturity [Member] | ||
Modified Amortized Cost | 9,215 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | Payment Deferral [Member] | ||
Modified Amortized Cost | 701 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | Extended Maturity and Payment Deferral [Member] | ||
Modified Amortized Cost | $ 9,916 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Percentage of total loans | 0% | |
Term extension (Year) | 3 years | |
Commercial, financial and agricultural | $ 0 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | Extended Maturity [Member] | ||
Modified Amortized Cost | 214 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | Payment Deferral [Member] | ||
Modified Amortized Cost | 0 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | Extended Maturity and Payment Deferral [Member] | ||
Modified Amortized Cost | $ 214 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Percentage of total loans | 0.10% | |
Commercial, financial and agricultural | $ 59 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | Extended Maturity [Member] | ||
Modified Amortized Cost | 11,254 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | Payment Deferral [Member] | ||
Modified Amortized Cost | 359 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | Extended Maturity and Payment Deferral [Member] | ||
Modified Amortized Cost | $ 11,613 | |
Real Estate Portfolio Segment[Member] | Minimum [Member] | Owner Occupied Commercial [Member] | ||
Term extension (Year) | 3 years | |
Real Estate Portfolio Segment[Member] | Minimum [Member] | Other Mortgages [Member] | ||
Term extension (Year) | 3 years | |
Real Estate Portfolio Segment[Member] | Maximum [Member] | Owner Occupied Commercial [Member] | ||
Term extension (Year) | 18 years | |
Real Estate Portfolio Segment[Member] | Maximum [Member] | Other Mortgages [Member] | ||
Term extension (Year) | 36 years |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 9 years | ||
Operating Lease, Right-of-Use Asset | $ 19.8 | $ 18.8 | |
Operating Lease, Liability | $ 20.7 | $ 19.6 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 6 years 3 months 18 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 2.95% | ||
Operating Lease, Payments | $ 1.2 | $ 1 |
Note 6 - Leases - Maturities of
Note 6 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
2023 (remaining) | $ 3,864 | |
2024 | 3,768 | |
2025 | 3,672 | |
2026 | 3,066 | |
2027 | 2,588 | |
thereafter | 6,079 | |
Total lease payments | 23,037 | |
Less: imputed interest | (2,339) | |
Present value of operating lease liabilities | 20,700 | $ 19,600 |
Other Liabilities [Member] | ||
Present value of operating lease liabilities | $ 20,698 |
Note 6 - Leases - Lease Costs (
Note 6 - Leases - Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating lease cost | $ 1,230 | $ 1,043 |
Variable lease cost | 191 | 148 |
Sublease income | (8) | (24) |
Net lease cost | $ 1,413 | $ 1,167 |
Note 7 - Employee and Directo_3
Note 7 - Employee and Director Benefits (Details Textual) - USD ($) | 3 Months Ended | ||
Dec. 31, 2014 | Mar. 31, 2023 | Mar. 31, 2022 | |
Share-Based Payment Arrangement, Expense | $ 808,000 | $ 790,000 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | |
Share-Based Payment Arrangement, Option [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 159,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year | ||
Restricted Stock [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 5,300,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 2 months 12 days | ||
Performance Shares [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 1,200,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 18 days | ||
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 | ||
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 - Summary of Stock Option Activity (Details) - Share-Based Payment Arrangement, Option [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Outstanding, shares (in shares) | 280,000 | 353,250 | 353,250 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 19.43 | $ 19.28 | $ 19.28 | |
Outstanding, weighted average remaining contractual term (Year) | 3 years 4 months 24 days | 3 years | 3 years 9 months 18 days | |
Outstanding, aggregate intrinsic value | $ 7,428 | $ 14,088 | $ 23,525 | |
Exercised, shares (in shares) | (75,000) | (36,500) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 10.80 | $ 18.65 | ||
Exercised, weighted average remaining contractual term (Year) | 10 months 24 days | 3 years 1 month 6 days | ||
Exercised, aggregate intrinsic value | $ 3,288 | $ 2,677 | ||
Outstanding, shares (in shares) | 205,000 | 316,750 | 280,000 | 353,250 |
Outstanding, weighted average exercise price (in dollars per share) | $ 22.59 | $ 19.35 | $ 19.43 | $ 19.28 |
Exercisable, shares (in shares) | 152,000 | 255,000 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 17.28 | $ 14.79 | ||
Exercisable, weighted average remaining contractual term (Year) | 2 years 2 months 12 days | 2 years 9 months 18 days | ||
Exercisable, aggregate intrinsic value | $ 5,859 | $ 20,056 | ||
Forfeited, weighted average remaining contractual term (Year) | 3 years 8 months 12 days | |||
Forfeited, aggregate intrinsic value | $ 24,446 |
Note 7 - Employee and Directo_5
Note 7 - Employee and Director Benefits - Summary of Restricted Stock and Performance Shares Activity (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Restricted Stock [Member] | ||
Non-vested, shares (in shares) | 141,580 | 127,602 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 56.39 | $ 42.27 |
Granted, shares (in shares) | 27,258 | 27,851 |
Granted, weighted average grant date fair value (in dollars per share) | $ 69.83 | $ 84.67 |
Vested, shares (in shares) | (17,521) | (9,612) |
Vested, weighted average grant date fair value (in dollars per share) | $ 48.32 | $ 42.23 |
Forfeited, shares (in shares) | (6,545) | (877) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 69.90 | $ 40.72 |
Non-vested, shares (in shares) | 144,772 | 144,964 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 59.29 | $ 50.43 |
Performance Shares [Member] | ||
Non-vested, shares (in shares) | 23,852 | 12,437 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 54.16 | $ 37.05 |
Granted, shares (in shares) | 8,091 | 6,557 |
Granted, weighted average grant date fair value (in dollars per share) | $ 70.29 | $ 74.52 |
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) | 31,943 | 18,994 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 58.25 | $ 49.99 |
Note 8 - Derivatives (Details T
Note 8 - Derivatives (Details Textual) - Interest Rate Cap [Member] - USD ($) $ in Millions | 1 Months Ended | |
May 31, 2020 | Mar. 31, 2023 | |
Derivative, Term of Contract (Year) | 3 years | |
Derivative, Notional Amount | $ 300 | |
Derivative, Fair Value, Net | $ 1.2 | |
Derivative, Remaining Maturity (Month) | 1 month | |
LIBOR - London Interbank Offered Rate [Member] | ||
Derivative, Cap Interest Rate | 0.50% |
Note 11 - Fair Value Measurem_3
Note 11 - Fair Value Measurement (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | ||
Asset Impairment Charges | $ 3,000 | |||
Real Estate Owned, Amount of Loss at Acquisition | $ 0 | $ 6,000 | ||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure | 248,000 | $ 248,000 | ||
Mortgage Loans in Process of Foreclosure, Amount | 190,000 | 0 | ||
Liabilities, Total | 13,226,742 | 13,297,857 | [1] | |
Fair Value, Recurring [Member] | ||||
Liabilities, Total | 0 | 0 | ||
Fair Value, Nonrecurring [Member] | ||||
Liabilities, Total | $ 0 | $ 0 | ||
Minimum [Member] | ||||
Impaired Loans, Fair Value Adjustment, Percent | 0% | 0% | ||
Real Estate Owned, Fair Value Adjustment, Percent | 0% | 0% | ||
Maximum [Member] | ||||
Impaired Loans, Fair Value Adjustment, Percent | 90% | 82% | ||
Real Estate Owned, Fair Value Adjustment, Percent | 100% | 100% | ||
Weighted Average [Member] | ||||
Impaired Loans, Fair Value Adjustment, Percent | 14.90% | 19.50% | ||
Real Estate Owned, Fair Value Adjustment, Percent | 53.30% | 53.30% | ||
[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 | Mar. 31, 2023 | Dec. 31, 2022 | |
Available for sale, fair value | $ 624,948 | $ 644,815 | [1] |
US Treasury Securities [Member] | |||
Available for sale, fair value | 2,990 | 2,969 | |
US Government Agencies Debt Securities [Member] | |||
Available for sale, fair value | 4 | 9 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 243,031 | 249,703 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 13,311 | 13,609 | |
Corporate Debt Securities [Member] | |||
Available for sale, fair value | 365,612 | 378,525 | |
Fair Value, Recurring [Member] | |||
Available for sale, fair value | 624,948 | 644,815 | |
Total assets at fair value | 626,129 | 649,016 | |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | |||
Interest rate cap derivative | 1,181 | 4,201 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available for sale, fair value | 2,990 | 2,969 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Available for sale, fair value | 4 | 9 | |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 243,031 | 249,703 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 13,311 | 13,609 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | 365,612 | 378,525 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | |||
Available for sale, fair value | 2,990 | 2,969 | |
Total assets at fair value | 2,990 | 2,969 | |
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 | 2,990 | 2,969 | |
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 | 615,098 | 630,986 | |
Total assets at fair value | 616,279 | 635,187 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member] | |||
Interest rate cap derivative | 1,181 | 4,201 | |
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 | 4 | 9 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 243,031 | 249,703 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 13,311 | 13,609 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | 358,752 | 367,665 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | |||
Available for sale, fair value | 6,860 | 10,860 | |
Total assets at fair value | 6,860 | 10,860 | |
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 | $ 6,860 | $ 10,860 | |
[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 | Mar. 31, 2023 | Dec. 31, 2022 |
Loans individually evaluated | $ 71,486 | $ 73,017 |
Other real estate owned and repossessed assets | 248 | 248 |
Total assets at fair value | 71,734 | 73,265 |
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 | 71,486 | 73,017 |
Other real estate owned and repossessed assets | 248 | 248 |
Total assets at fair value | $ 71,734 | $ 73,265 |
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 | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Fair value, beginning of period | $ 10,860 | $ 16,992 |
Transfers into Level 3 | 0 | 0 |
Total realized gains included in income | 0 | 0 |
Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end | 160 | (343) |
Purchases | 0 | 0 |
Transfers out of Level 3 | (4,160) | (5,149) |
Fair value, end of period | $ 6,860 | $ 11,500 |
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 ($) | Mar. 31, 2023 | Dec. 31, 2022 | |
Cash and cash equivalents | $ 139,175,000 | $ 106,317,000 | [1] |
Held to maturity debt securities, fair value | 937,961,000 | 935,953,000 | [1] |
Federal funds sold | 6,478,000 | 1,515,000 | [1] |
Held to maturity debt securities, fair value | 937,961,000 | 935,953,000 | [1] |
Mortgage loans held for sale | 1,651,000 | 1,607,000 | [1] |
Restricted equity securities | 7,307,000 | 7,734,000 | [1] |
Loans, net | 11,480,837,000 | 11,541,671,000 | [1] |
Federal funds purchased | 1,480,160,000 | 1,618,798,000 | [1] |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Cash and cash equivalents | 864,493,000 | 814,538,000 | |
Held to maturity debt securities, fair value | 507,601,000 | 507,601,000 | |
Held to maturity debt securities, fair value | 507,601,000 | 507,601,000 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 864,493,000 | 814,538,000 | |
Held to maturity debt securities, fair value | 477,580,000 | 470,954,000 | |
Held to maturity debt securities, fair value | 477,580,000 | 470,954,000 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 506,342,000 | 526,720,000 | |
Federal funds sold | 6,478,000 | 1,515,000 | |
Held to maturity debt securities, fair value | 506,342,000 | 526,720,000 | |
Mortgage loans held for sale | 1,651,000 | 1,607,000 | |
Restricted equity securities | 7,307,000 | 7,734,000 | |
Deposits | 11,615,317,000 | 11,546,805,000 | |
Federal funds purchased | 1,480,160,000 | 1,618,798,000 | |
Other borrowings | 65,417 | 64,726 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 453,162,000 | 464,749,000 | |
Federal funds sold | 6,478,000 | 1,515,000 | |
Held to maturity debt securities, fair value | 453,162,000 | 464,749,000 | |
Mortgage loans held for sale | 1,642,000 | 1,604,000 | |
Restricted equity securities | 7,307,000 | 7,734,000 | |
Deposits | 11,602,610,000 | 11,529,647,000 | |
Federal funds purchased | 1,480,160,000 | 1,618,798,000 | |
Other borrowings | 57,340 | 57,101 | |
Fair Value, Inputs, Level 3 [Member] | |||
Held to maturity debt securities, fair value | 250,000 | 250,000 | |
Held to maturity debt securities, fair value | 250,000 | 250,000 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Loans, net | 11,480,837,000 | 11,541,671,000 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Loans, net | $ 11,145,529,000 | $ 11,265,517,000 | |
[1]derived from audited financial statements. |