Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 31, 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 | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 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 $.001 per share | |
Trading Symbol | SFBS | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 54,423,341 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |
ASSETS | |||
Cash and due from banks | $ 107,251 | $ 106,317 | [1] |
Interest-bearing balances due from depository institutions | 852,483 | 708,221 | [1] |
Federal funds sold | 17,958 | 1,515 | [1] |
Cash and cash equivalents | 977,692 | 816,053 | [1] |
Available-for-sale debt securities, at fair value | 990,921 | 644,815 | [1] |
Held-to-maturity debt securities (fair value of $963,843 at June 30, 2023 and $935,953 at December 31, 2022) | 1,057,306 | 1,034,121 | [1] |
Restricted equity securities | 7,307 | 7,734 | [1] |
Mortgage loans held for sale | 3,981 | 1,607 | [1] |
Loans | 11,604,894 | 11,687,968 | [1] |
Less allowance for credit losses | (152,272) | (146,297) | [1] |
Net Loans | 11,452,622 | 11,541,671 | [1] |
Premises and equipment, net | 59,655 | 59,850 | [1] |
Accrued interest and dividends receivable | 50,183 | 48,422 | [1] |
Deferred tax asset, net | 65,635 | 60,448 | [1] |
Other real estate owned and repossessed assets | 832 | 248 | [1] |
Bank owned life insurance contracts | 290,979 | 287,752 | [1] |
Goodwill and other identifiable intangible assets | 13,615 | 13,615 | [1] |
Other assets | 102,080 | 79,417 | [1] |
Total assets | 15,072,808 | 14,595,753 | [1] |
Liabilities: | |||
Non-interest-bearing demand | 2,855,102 | 3,321,347 | |
Interest-bearing | 9,433,117 | 8,225,458 | [1] |
Total deposits | 12,288,219 | 11,546,805 | [1] |
Federal funds purchased | 1,298,066 | 1,618,798 | [1] |
Other borrowings | 64,737 | 64,726 | [1] |
Accrued interest and dividends payable | 23,061 | 18,615 | |
Other liabilities | 35,254 | 48,913 | [1] |
Total liabilities | 13,709,337 | 13,297,857 | [1] |
Stockholders' equity: | |||
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at June 30, 2023 and December 31, 2022 | 0 | 0 | [1] |
Common stock, par value $0.001 per share; 200,000,000 shares authorized: 54,425,033 shares issued and outstanding at June 30, 2023; and 54,326,527 shares issued and outstanding at December 31, 2022 | 54 | 54 | [1] |
Additional paid-in capital | 230,659 | 229,693 | [1] |
Retained earnings | 1,190,920 | 1,109,902 | [1] |
Accumulated other comprehensive loss | (58,662) | (42,253) | |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 1,362,971 | 1,297,396 | [1] |
Noncontrolling interest | 500 | 500 | [1] |
Total stockholders' equity | 1,363,471 | 1,297,896 | [1] |
Total liabilities and stockholders' equity | $ 15,072,808 | $ 14,595,753 | [1] |
[1]derived from audited financial statements. |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |
Held to maturity debt securities, fair value | $ 963,843 | $ 935,953 | |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | [1] |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 | [1] |
Preferred stock, undesignated (in shares) | 1,000,000 | 1,000,000 | [1] |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | [1] |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 | [1] |
Common stock, shares issued (in shares) | 54,425,033 | 54,326,527 | [1] |
Common stock, shares outstanding (in shares) | 54,425,033 | 54,326,527 | [1] |
[1]derived from audited financial statements. |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Interest income: | ||||
Interest and fees on loans | $ 171,718 | $ 111,287 | $ 335,450 | $ 214,392 |
Taxable securities | 11,570 | 10,515 | 22,465 | 18,738 |
Nontaxable securities | 17 | 37 | 38 | 80 |
Federal funds sold | 227 | 93 | 841 | 106 |
Other interest and dividends | 6,124 | 4,623 | 12,184 | 6,427 |
Total interest income | 189,656 | 126,555 | 370,978 | 239,743 |
Interest expense: | ||||
Deposits | 71,971 | 6,427 | 127,684 | 12,270 |
Borrowed funds | 16,434 | 3,760 | 33,742 | 5,383 |
Total interest expense | 88,405 | 10,187 | 161,426 | 17,653 |
Net interest income | 101,251 | 116,368 | 209,552 | 222,090 |
Provision for credit losses | 6,654 | 9,507 | 10,851 | 14,869 |
Net interest income after provision for credit losses | 94,597 | 106,861 | 198,701 | 207,221 |
Noninterest income | ||||
Securities losses | 0 | (2,833) | 0 | (6,168) |
Bank-owned life insurance income | 2,496 | 3,733 | 4,117 | 5,341 |
Other operating income | 842 | 3,187 | 1,477 | 7,822 |
Total noninterest income | 8,582 | 9,506 | 14,903 | 17,454 |
Noninterest expenses: | ||||
Salaries and employee benefits | 18,795 | 20,734 | 37,861 | 39,035 |
Equipment and occupancy expense | 3,421 | 2,983 | 6,856 | 5,916 |
Third party processing and other services | 6,198 | 6,345 | 13,482 | 11,950 |
Professional services | 1,580 | 1,327 | 3,234 | 2,319 |
FDIC and other regulatory assessments | 2,242 | 1,147 | 3,759 | 2,279 |
OREO expense | 6 | 32 | 12 | 35 |
Other operating expenses | 6,224 | 7,253 | 12,926 | 15,505 |
Total noninterest expenses | 38,466 | 39,821 | 78,130 | 77,039 |
Income before income taxes | 64,713 | 76,546 | 135,474 | 147,636 |
Provision for income taxes | 11,245 | 14,410 | 24,035 | 27,887 |
Net income | 53,468 | 62,136 | 111,439 | 119,749 |
Preferred stock dividends | 31 | 31 | 31 | 31 |
Net income available to common stockholders | $ 53,437 | $ 62,105 | $ 111,408 | $ 119,718 |
Basic earnings per common share (in dollars per share) | $ 0.98 | $ 1.14 | $ 2.05 | $ 2.21 |
Diluted earnings per common share (in dollars per share) | $ 0.98 | $ 1.14 | $ 2.04 | $ 2.20 |
Deposit Account [Member] | ||||
Noninterest income | ||||
Noninterest income | $ 2,142 | $ 2,133 | $ 4,076 | $ 4,275 |
Mortgage Banking [Member] | ||||
Noninterest income | ||||
Noninterest income | 696 | 614 | 1,138 | 1,140 |
Credit Card [Member] | ||||
Noninterest income | ||||
Noninterest income | $ 2,406 | $ 2,672 | $ 4,095 | $ 5,044 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net income | $ 53,468 | $ 62,136 | $ 111,439 | $ 119,749 |
Other comprehensive loss, net of tax: | ||||
Unrealized net holding losses arising during period from securities available for sale, net of tax of $(5,182) and $(5,403) for the three and six months ended June 30, 2023, respectively, and $(5,557) and $(12,572) for the three and six months ended June 30, 2022, respectively | (15,455) | (13,344) | (16,122) | (40,340) |
Amortization of net unrealized gains on securities transferred from available-for-sale to held-to-maturity, net of tax of $(51) and $(96) for the three and six months ended June 30, 2023, respectively, and $(100) and $(250) for the three and six months ended June 30, 2022, respectively | (158) | (377) | (287) | (946) |
Reclassification adjustment for net losses on sales of securities, net of tax of $595 and $1,295 for the three and six months ended June 30, 2022 | 0 | 2,238 | 0 | 4,873 |
Other comprehensive loss, net of tax | (15,613) | (11,482) | (16,409) | (36,413) |
Comprehensive income | $ 37,855 | $ 50,654 | $ 95,030 | $ 83,336 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Unrealized holding gain (loss) from available for sale securities, tax | $ (5,182) | $ (5,557) | $ (5,403) | $ (12,572) |
Amortization of net unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity, tax | $ (51) | (100) | $ (96) | (250) |
Reclassification adjustment for net (gains) losses on sale of securities available-for-sale, tax | $ 595 | $ 1,295 |
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 | (12,491) | 0 | 0 | (12,491) | |
Preferred dividends paid | 0 | 0 | 0 | (31) | 0 | 0 | (31) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 65 | 0 | 0 | 65 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 42,768 | |||||||
Issue restricted shares pursuant to stock incentives, net of forfeitures | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Issue shares of common stock upon exercise of stock options (in shares) | 37,047 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 862 | 0 | 0 | 0 | 862 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (940) | 0 | 0 | 0 | (940) | |
Stock-based compensation expense | 0 | 0 | 1,587 | 0 | 0 | 0 | 1,587 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (36,413) | 0 | (36,413) | |
Net income | 0 | 0 | 0 | 119,749 | 0 | 119,749 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 119,749 | |||||||
Common dividends paid | $ 0 | 0 | 0 | (12,485) | 0 | 0 | (12,485) | |
Balance (in shares) at Jun. 30, 2022 | 54,306,875 | |||||||
Balance at Jun. 30, 2022 | $ 54 | 0 | 227,906 | 1,005,815 | (22,357) | 500 | 1,211,918 | |
Balance (in shares) at Mar. 31, 2022 | 54,282,132 | |||||||
Balance at Mar. 31, 2022 | $ 54 | 0 | 227,127 | 956,169 | (10,875) | 500 | 1,172,975 | |
Common dividends declared | 0 | 0 | 0 | (12,491) | 0 | 0 | (12,491) | |
Preferred dividends paid | 0 | 0 | 0 | (31) | 0 | 0 | (31) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 32 | 0 | 0 | 32 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 15,794 | |||||||
Issue restricted shares pursuant to stock incentives, net of forfeitures | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Issue shares of common stock upon exercise of stock options (in shares) | 8,949 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 308 | 0 | 0 | 0 | 308 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (326) | 0 | 0 | 0 | (326) | |
Stock-based compensation expense | 0 | 0 | 797 | 0 | 0 | 0 | 797 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (11,482) | 0 | (11,482) | |
Net income | $ 0 | 0 | 0 | 62,136 | 0 | 62,136 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 62,136 | |||||||
Balance (in shares) at Jun. 30, 2022 | 54,306,875 | |||||||
Balance at Jun. 30, 2022 | $ 54 | 0 | 227,906 | 1,005,815 | (22,357) | 500 | 1,211,918 | |
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 | (15,239) | 0 | 0 | (15,239) | |
Preferred dividends paid | 0 | 0 | 0 | (31) | 0 | 0 | (31) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 82 | 0 | 0 | 82 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 37,268 | |||||||
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) | 61,238 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 1,014 | 0 | 0 | 0 | 1,014 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (1,838) | 0 | 0 | 0 | (1,838) | |
Stock-based compensation expense | 0 | 0 | 1,790 | 0 | 0 | 0 | 1,790 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (16,409) | 0 | (16,409) | |
Net income | 0 | 0 | 0 | 111,439 | 0 | 111,439 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 111,439 | |||||||
Common dividends paid | $ 0 | 0 | 0 | (15,233) | 0 | 0 | (15,233) | |
Balance (in shares) at Jun. 30, 2023 | 54,425,033 | |||||||
Balance at Jun. 30, 2023 | $ 54 | 0 | 230,659 | 1,190,920 | (58,662) | 500 | 1,363,471 | |
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 | |
Common dividends declared | 0 | 0 | 0 | (15,239) | 0 | 0 | (15,239) | |
Preferred dividends paid | 0 | 0 | 0 | (31) | 0 | 0 | (31) | |
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) | 16,555 | |||||||
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) | 10,453 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 168 | 0 | 0 | 0 | 168 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (122) | 0 | 0 | 0 | (122) | |
Stock-based compensation expense | 0 | 0 | 982 | 0 | 0 | 0 | 982 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (15,613) | 0 | (15,613) | |
Net income | $ 0 | 0 | 0 | 53,468 | 0 | 53,468 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 53,468 | |||||||
Balance (in shares) at Jun. 30, 2023 | 54,425,033 | |||||||
Balance at Jun. 30, 2023 | $ 54 | $ 0 | $ 230,659 | $ 1,190,920 | $ (58,662) | $ 500 | $ 1,363,471 | |
[1]derived from audited financial statements. |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Common dividends, per share declared (in dollars per share) | $ 0.28 | $ 0.23 | $ 0.28 | $ 0.23 |
Shares withheld in net settlement upon exercise of stock options (in shares) | 2,247 | 2,551 | 26,462 | 10,953 |
Common dividends, per share (in dollars per share) | $ 0.28 | $ 0.23 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
OPERATING ACTIVITIES | ||
Net income | $ 111,439 | $ 119,749 |
Adjustments to reconcile net income to net cash provided by operations | ||
Deferred tax | 312 | 424 |
Provision for credit losses | 10,851 | 14,869 |
Depreciation | 2,142 | 2,098 |
Accretion on acquired loans | 98 | 70 |
Amortization of core deposit intangible | 0 | 23 |
Amortization of investments in tax credit partnerships | 6,540 | 5,857 |
Net amortization of debt securities available-for-sale | 226 | 2,062 |
Increase in accrued interest and dividends receivable | (1,761) | (1,726) |
Stock-based compensation expense | 1,790 | 1,587 |
Increase (decrease) in accrued interest and dividends payable | 4,446 | (104) |
Proceeds from sale of mortgage loans held for sale | 51,674 | 17,835 |
Originations of mortgage loans held for sale | (52,910) | (19,032) |
Loss on sale of securities available for sale | 0 | 6,168 |
Gain on sale of mortgage loans held for sale | (1,138) | (1,140) |
Net gain on sale of other real estate owned and repossessed assets | (5) | (239) |
Write down of other real estate owned and repossessed assets | 0 | 6 |
Increase in cash surrender value of life insurance contracts | (4,117) | (5,341) |
Net change in other assets, liabilities, and other operating activities | (36,094) | (17,167) |
Net cash provided by operating activities | 93,493 | 125,999 |
INVESTMENT ACTIVITIES | ||
Purchases of debt securities available-for-sale | (414,056) | (76,360) |
Proceeds from maturities, calls and paydowns of debt securities available-for-sale | 46,203 | 64,459 |
Proceeds from sale of debt securities available-for-sale | 0 | 75,036 |
Purchases of debt securities held-to-maturity | (48,723) | (648,266) |
Proceeds from maturities, calls and paydowns of debt securities held-to-maturity | 25,155 | 44,271 |
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 | (5,817) | (1,646) |
Return of capital from tax credit partnerships and SBIC | 0 | 249 |
Decrease (increase) in loans | 77,363 | (1,088,455) |
Purchases of premises and equipment | (1,947) | (1,280) |
Proceeds from sale of other real estate owned and repossessed assets | 158 | 1,091 |
Net cash used in investing activities | (321,237) | (1,631,324) |
FINANCING ACTIVITIES | ||
Net decrease in non-interest-bearing deposits | (466,245) | (113,256) |
Net increase (decrease) in interest-bearing deposits | 1,207,659 | (567,243) |
Net decrease in federal funds purchased | (320,732) | (322,610) |
FHLB advances | 300,000 | 0 |
Repayment of FHLB advances | (300,000) | 0 |
Proceeds from exercise of stock options | 1,014 | 862 |
Taxes paid in net settlement of tax obligation upon exercise of stock options | (1,838) | (940) |
Dividends paid on common stock | (30,444) | (24,957) |
Dividends paid on preferred stock | (31) | (31) |
Net cash provided by (used in) financing activities | 389,383 | (1,028,175) |
Net increase (decrease) in cash and cash equivalents | 161,639 | (2,533,500) |
Cash and cash equivalents at beginning of period | 816,053 | 4,222,096 |
Cash and cash equivalents at end of period | 977,692 | 1,688,596 |
Cash paid/(received) for: | ||
Interest | 156,980 | 10,291 |
Income taxes | 46,968 | 35,965 |
Income tax refund | 0 | (142) |
NONCASH TRANSACTIONS | ||
Other real estate acquired in settlement of loans | 737 | 857 |
Dividends on nonvested restricted stock reclassified as compensation expense | 41 | 65 |
Dividends declared | $ 15,239 | $ 12,491 |
Note 1 - General
Note 1 - General | 6 Months Ended |
Jun. 30, 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 | 6 Months Ended |
Jun. 30, 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 | 6 Months Ended |
Jun. 30, 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 six June 30, 2023 2022. Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 54,411,016 54,295,789 54,385,775 54,279,574 Net income available to common stockholders $ 53,437 $ 62,105 $ 111,408 $ 119,718 Basic earnings per common share $ 0.98 $ 1.14 $ 2.05 $ 2.21 Weighted average common shares outstanding 54,411,016 54,295,789 54,385,775 54,279,574 Dilutive effects of assumed exercise of stock options and vesting of performance shares 94,710 236,596 134,250 247,668 Weighted average common and dilutive potential common shares outstanding 54,505,726 54,532,385 54,520,025 54,527,242 Net income available to common stockholders $ 53,437 $ 62,105 $ 111,408 $ 119,718 Diluted earnings per common share $ 0.98 $ 1.14 $ 2.04 $ 2.20 |
Note 4 - Securities
Note 4 - Securities | 6 Months Ended |
Jun. 30, 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 June 30, 2023 December 31, 2022 Gross Gross Amortized Unrealized Unrealized Fair Cost Gain Loss Value June 30, 2023 (In Thousands) Debt Securities Available-for-Sale U.S. Treasury Securities $ 414,470 $ 47 $ (63 ) $ 414,454 Government Agency Securities 4 - - 4 Mortgage-backed securities 261,450 2 (31,510 ) 229,942 State and municipal securities 13,409 1 (1,447 ) 11,963 Corporate debt 385,673 - (51,115 ) 334,558 Total $ 1,075,006 $ 50 $ (84,135 ) $ 990,921 Debt Securities Held-to-Maturity U.S. Treasury Securities $ 557,084 $ - $ (34,258 ) $ 522,826 Mortgage-backed securities 492,170 1 (58,302 ) 433,869 State and municipal securities 8,052 - (904 ) 7,148 Total $ 1,057,306 $ 1 $ (93,464 ) $ 963,843 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 June 30, 2023 December 31, 2022 may may not June 30, 2023 December 31, 2022 Amortized Cost Fair Value Amortized Cost Fair Value (In Thousands) Debt securities available-for-sale Due within one year $ 449,651 $ 448,911 $ 24,712 $ 24,432 Due from one to five years 31,741 29,817 58,554 57,092 Due from five to ten years 329,164 280,122 338,630 311,100 Due after ten years 3,000 2,129 3,000 2,488 Mortgage-backed securities 261,450 229,942 282,480 249,703 $ 1,075,006 $ 990,921 $ 707,376 $ 644,815 Debt securities held-to-maturity Due within one year $ 122,152 $ 120,402 $ 250 $ 250 Due from one to five years 314,773 297,631 386,465 366,095 Due from five to ten years 128,211 111,941 128,477 111,632 Mortgage-backed securities 492,170 433,869 518,929 457,976 $ 1,057,306 $ 963,843 $ 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 as of June 30, 2023 December 31, 2022 second 2023. The following table identifies, as of June 30, 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) June 30, 2023 Debt Securities available-for-sale U.S. Treasury Securities $ (63 ) $ 214,652 $ - $ - $ (63 ) $ 214,652 Government Agency Securities - 4 - - - 4 Mortgage-backed securities (19 ) 1,097 (31,490 ) 228,603 (31,510 ) 229,700 State and municipal securities (24 ) 2,176 (1,423 ) 9,342 (1,447 ) 11,518 Corporate debt (6,118 ) 69,657 (44,996 ) 258,041 (51,115 ) 327,698 Total $ (6,225 ) $ 287,586 $ (77,910 ) $ 495,986 $ (84,135 ) $ 783,572 Debt Securities held-to-maturity U.S. Treasury Securities $ (6 ) $ 49,020 $ (34,252 ) $ 473,806 $ (34,258 ) $ 522,826 Mortgage-backed securities (621 ) 10,241 (57,681 ) 419,852 (58,302 ) 430,093 State and municipal securities - - (904 ) 6,898 (904 ) 6,898 Total $ (627 ) $ 59,261 $ (92,836 ) $ 900,556 $ (93,464 ) $ 959,817 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 Debt Securities held-to-maturity 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 June 30, 2023 2022, not not not not may not not June 30, 2023 2022, no zero not June 30, 2023 2022. June 30, 2023 not The following table summarizes information about sales of debt securities available-for-sale. Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In Thousands) Sale proceeds $ - $ 33,425 $ - $ 75,036 Gross realized gains $ - $ - $ - $ - Gross realized losses - (2,833 ) - (6,168 ) Net realized gain (loss) $ - $ (2,833 ) $ - $ (6,168 ) |
Note 5 - Loans
Note 5 - Loans | 6 Months Ended |
Jun. 30, 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 the Bank with the Federal Deposit Insurance Corporation (FDIC). Commercial, financial and agricultural - Real estate construction Owner-occupied commercial real estate mortgage 1 4 Other real estate mortgage Consumer not The following table details the Company’s loans at June 30, 2023 December 31, 2022: June 30, December 31, 2023 2022 (Dollars In Thousands) Commercial, financial and agricultural $ 2,986,453 $ 3,145,317 Real estate - construction 1,397,732 1,532,388 Real estate - mortgage: Owner-occupied commercial 2,294,002 2,199,280 1-4 family mortgage 1,167,238 1,146,831 Other mortgage 3,686,434 3,597,750 Subtotal: Real estate - mortgage 7,147,674 6,943,861 Consumer 73,035 66,402 Total Loans 11,604,894 11,687,968 Less: Allowance for credit losses (152,272 ) (146,297 ) Net Loans $ 11,452,622 $ 11,541,671 Commercial, financial and agricultural 25.73 % 26.91 % Real estate - construction 12.04 % 13.11 % Real estate - mortgage: Owner-occupied commercial 19.77 % 18.82 % 1-4 family mortgage 10.06 % 9.81 % Other mortgage 31.77 % 30.78 % Subtotal: Real estate - mortgage 61.59 % 59.41 % Consumer 0.63 % 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 borrower (or guarantors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral. ● Special Mention – loans with potential weakness that may, not not not ● Substandard – loans that exhibit well-defined weakness or weaknesses that currently jeopardize debt repayment. These loans are characterized by the distinct possibility that the company will sustain some loss if the weaknesses are not ● Doubtful – loans that have all the weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. The table below presents loan balances classified by credit quality indicator, loan type and based on year of origination as of June 30, 2023 : 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving lines of credit converted to term loans Total (In Thousands) Commercial, financial and agricultural Pass $ 188,322 $ 452,817 $ 274,416 $ 175,236 $ 232,062 $ 524,756 $ 1,031,315 $ 5,827 $ 2,884,751 Special Mention 1,209 2,018 5,105 6,327 1,969 13,801 17,946 - 48,375 Substandard - accruing - - - 374 10,853 24,514 9,783 - 45,524 Substandard -Non-accrual - 452 146 - 2,101 3,211 1,894 - 7,804 Total Commercial, financial and agricultural $ 189,531 $ 455,287 $ 279,667 $ 181,937 $ 246,985 $ 566,282 $ 1,060,937 $ 5,827 $ 2,986,453 Current-period gross charge-offs - 4,677 - - - 446 492 - 5,615 Real estate - construction Pass $ 50,354 $ 646,738 $ 235,612 $ 36,480 $ 7,935 $ 17,850 $ 401,532 $ - $ 1,396,501 Special Mention - - - - - 200 19 - 219 Substandard - accruing - - - - - 1,011 1 - 1,012 Total Real estate - construction $ 50,354 $ 646,738 $ 235,612 $ 36,480 $ 7,935 $ 19,061 $ 401,552 $ - $ 1,397,732 Owner-occupied commercial Pass $ 27,570 $ 362,863 $ 208,803 $ 306,095 $ 188,247 $ 384,494 $ 768,636 $ 1,741 $ 2,248,449 Special Mention 5,386 1,187 840 7,715 8,679 2,816 6,851 - 33,474 Substandard - accruing - - - - - 3,498 3,074 - 6,572 Substandard -Non-accrual - - - - 2,332 - 3,175 - 5,507 Total Owner-occupied commercial $ 32,956 $ 364,050 $ 209,643 $ 313,810 $ 199,258 $ 390,808 $ 781,736 $ 1,741 $ 2,294,002 Current-period gross charge-offs - - - - 117 - - - 117 1-4 family mortgage Pass $ 46,213 $ 391,730 $ 209,540 $ 96,218 $ 63,229 $ 121,505 $ 224,137 $ 69 $ 1,152,641 Special Mention - 4,710 1,080 1,193 237 1,204 2,108 - 10,532 Substandard - accruing - - - - 3 541 442 - 986 Substandard -Non-accrual - - 422 733 1,152 773 - - 3,080 Total 1-4 family mortgage $ 46,213 $ 396,440 $ 211,042 $ 98,144 $ 64,621 $ 124,023 $ 226,686 $ 69 $ 1,167,238 Current-period gross charge-offs - 40 - - - - - - 40 Other mortgage Pass $ 23,499 $ 881,657 $ 444,982 $ 397,700 $ 260,033 $ 414,557 $ 1,234,081 $ 12,321 $ 3,668,830 Special Mention - - - - - 1,050 4,431 - 5,482 Substandard - accruing - 236 - - - 11,380 - - 11,616 Substandard -Non-accrual - - - - 130 376 - - 506 Total Other mortgage $ 23,499 $ 881,893 $ 444,982 $ 397,700 $ 260,163 $ 427,363 $ 1,238,513 $ 12,321 $ 3,686,434 Consumer Pass $ 23,293 $ 12,787 $ 1,242 $ 4,428 $ 2,206 $ 6,463 $ 22,607 $ - $ 73,026 Special Mention - - - - - - 9 - 9 Substandard - accruing - - - - - - - - - Total Consumer $ 23,293 $ 12,787 $ 1,242 $ 4,428 $ 2,206 $ 6,463 $ 22,616 $ - $ 73,035 Current-period gross charge-offs - - - - - - 501 - 501 Total Loans Pass $ 359,251 $ 2,748,592 $ 1,374,595 $ 1,016,157 $ 753,712 $ 1,469,625 $ 3,682,308 $ 19,958 $ 11,424,198 Special Mention 6,595 7,915 7,025 15,235 10,885 19,071 31,364 - 98,090 Substandard - accruing - 236 - 374 10,856 40,947 13,296 - 65,709 Substandard -Non-accrual - 452 568 733 5,716 4,360 5,069 - 16,897 Total Loans $ 365,846 $ 2,757,195 $ 1,382,188 $ 1,032,499 $ 781,169 $ 1,534,003 $ 3,732,037 $ 19,958 $ 11,604,894 Current-period gross charge-offs $ - $ 4,717 $ - $ - $ 117 $ 446 $ 993 $ - $ 6,273 The table below presents loan balances classified 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 June 30, 2023 December 31, 2022 June 30, 2023 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,978,515 $ 7,938 $ 2,986,453 Real estate - construction 1,397,732 - 1,397,732 Real estate - mortgage: Owner-occupied commercial 2,288,496 5,506 2,294,002 1-4 family mortgage 1,162,842 4,396 1,167,238 Other mortgage 3,681,497 4,937 3,686,434 Total real estate mortgage 7,132,835 14,839 7,147,674 Consumer 72,968 67 73,035 Total $ 11,582,050 $ 22,844 $ 11,604,894 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 June 30, 2023 December 31, 2022 June 30, 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 $ 3,280 $ 596 $ 142 $ 4,018 $ 7,796 $ 2,974,639 $ 2,986,453 $ 3,815 Real estate - construction - 19 - 19 - 1,397,713 1,397,732 - Real estate - mortgage: Owner-occupied commercial 2,279 670 - 2,949 5,506 2,285,547 2,294,002 5,505 1-4 family mortgage 1,356 3,274 1,307 5,937 3,089 1,158,212 1,167,238 109 Other mortgage - - 4,431 4,431 506 3,681,497 3,686,434 506 Total real estate - mortgage 3,635 3,944 5,738 13,317 9,101 7,125,256 7,147,674 6,120 Consumer 49 29 67 145 - 72,890 73,035 - Total $ 6,964 $ 4,588 $ 5,947 $ 17,499 $ 16,897 $ 11,570,498 $ 11,604,894 $ 9,935 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 allowance for credit losses ("ACL") is measured on a collective basis for pools of loans with similar risk characteristics. For loans that do not not The Company uses the discounted cash flow (“DCF”) method to estimate ACL for all loan pools except for commercial and industrial ("C&I") revolving lines of credit and credit cards. Commercial and industrial ("C&I") revolving lines of credit and credit cards are members of the Commercial, financial and agricultural and Consumer portfolios, respectively. For all loan pools utilizing the DCF method, the Company utilizes and forecasts national unemployment rate as a loss driver. The Company also utilizes and forecasts GDP growth as a second June 30, 2023 December 31, 2022, twelve six December 31, 2022 The Company uses a loss-rate method to estimate expected credit losses for its C&I revolving lines of credit and credit card pools. The C&I revolving lines of credit pool incorporates a probability of default (“PD”) and loss given default (“LGD”) modeling approach. This approach involves estimating the pool average life and then using historical correlations of default and loss experience over time to calculate the lifetime PD and LGD. These two Each loan pool is adjusted for qualitative factors not Inherent risks in the loan portfolio will differ based on type of loan. Specific risk characteristics by loan portfolio segment are listed below: Commercial, financial and agricultural loans may may Real estate construction loans Real estate mortgage loans may Consumer loans The following table presents changes in the ACL, segregated by loan type, for the three six June 30, 2023 June 30, 2022. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended June 30, 2023 Allowance for credit losses: Balance at April 1, 2023 $ 42,895 $ 40,483 $ 63,157 $ 2,430 $ 148,965 Charge-offs (4,336 ) - (131 ) (133 ) (4,600 ) Recoveries 1,232 - - 21 1,253 Provision 3,674 (40 ) 3,211 (191 ) 6,654 Balance at June 30, 2023 $ 43,465 $ 40,443 $ 66,237 $ 2,127 $ 152,272 Three Months Ended June 30, 2022 Allowance for credit losses: Balance at April 1, 2022 $ 41,417 $ 27,821 $ 48,548 $ 1,677 $ 119,463 Charge-offs (1,666 ) - (23 ) (124 ) (1,813 ) Recoveries 1,217 - - 13 1,230 Provision 642 8,172 268 426 9,507 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 Six Months Ended June 30, 2023 Allowance for credit losses: Balance at January 1, 2023 $ 42,830 $ 42,889 $ 58,652 $ 1,926 $ 146,297 Charge-offs (5,593 ) - (157 ) (501 ) (6,273 ) Recoveries 1,360 3 1 32 1,396 Provision 4,868 (2,449 ) 7,740 692 10,851 Balance at June 30, 2023 $ 43,465 $ 40,443 $ 66,237 $ 2,127 $ 152,272 Six Months Ended June 30, 2022 Allowance for credit losses: Balance at January 1, 2022 $ 41,869 $ 26,994 $ 45,829 $ 1,968 $ 116,660 Charge-offs (4,240 ) - (51 ) (199 ) (4,489 ) Recoveries 1,322 - - 25 1,347 Provision 2,659 8,999 3,014 198 14,869 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 We maintain an ACL on unfunded lending commitments and letters of credit to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the 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 Sheet 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 June 30, 2023 December 31, 2022. no three six June 30, 2023, three six June 30, 2022, Loans that no Accounts ACL June 30, 2023 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 20,596 $ 7,944 $ 830 $ 23,962 $ 53,332 $ 11,166 Real estate - construction - - - 1,011 1,011 2 Real estate - mortgage: Owner-occupied commercial 12,034 - - 48 12,082 226 1-4 family mortgage 11,259 - - - 11,259 78 Other mortgage 4,850 - - - 4,850 385 Total real estate - mortgage 28,143 - - 48 28,191 689 Consumer - - - - - - Total $ 48,739 $ 7,944 $ 830 $ 25,021 $ 82,534 $ 11,857 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 the Financial Accounting Standards Board's ("FASB") Accounting Standards Update (“ASU”) 2022 02, Financial Instruments - Credit Losses (Topic 326 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 six June 30, 2023: Three months ended June 30, 2023 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 2,951 $ - $ 2,951 0.03 % Owner-occupied commercial 2,511 - 2,511 0.02 % Total $ 5,462 $ - $ 5,462 0.05 % Six months ended June 30, 2023 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 42,052 $ - $ 42,052 0.36 % Real estate - construction 200 - 200 - % Owner-occupied commercial 11,703 701 12,404 0.11 % 1-4 family mortgage 214 - 214 - % Other mortgage 11,254 359 11,613 0.10 % Total $ 65,423 $ 1,060 $ 66,483 0.57 % The following table summarizes the financial impacts of loan modifications made to borrowers experiencing financial difficulty during the three six June 30, 2023: Three months ended June 30, 2023 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 9 to 65 $ - Real estate - construction - - Owner-occupied commercial 9 to 60 - 1-4 family mortgage - - Other mortgage - - Six months ended June 30, 2023 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 3 to 65 $ - Real estate - construction 6 - Owner-occupied commercial 3 to 60 49 1-4 family mortgage 3 - Other mortgage 3 to 36 59 No January 1, 2023, 2022 02, 30 June 30, 2023. As of June 30, 2023, not three six June 30, 2023 90 TDRs at December 31, 2022 June 30, 2022 December 31, 2022 June 30, 2022 three six June 30, 2022.There no twelve twelve three six June 30, 2022. 90 |
Note 6 - Leases
Note 6 - Leases | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 6 The Company leases space under non-cancelable operating leases for several of its banking offices and certain office equipment. The leases have remaining terms up to 10 years. At June 30, 2023, December 31, 2022 Maturities of operating lease liabilities as of June 30, 2023 June 30, 2023 (In Thousands) 2023 (remaining) $ 2,331 2024 3,916 2025 3,832 2026 3,284 2027 2,694 thereafter 6,096 Total lease payments 22,153 Less: imputed interest (1,871 ) Present value of operating lease liabilities $ 20,282 As of June 30, 2023, Operating cash outflows related to leases were $1.3 million and $2.5 million for the three six June 30, 2023, three six June 30, 2022, Lease costs during the three six June 30, 2023 June 30, 2022 Three Months Ended June 30, 2023 2022 Operating lease cost $ 1,269 $ 1,051 Short-term lease cost - 17 Variable lease cost 192 151 Sublease income (8 ) (5 ) Net lease cost $ 1,453 $ 1,214 Six Months Ended June 30, 2023 2022 Operating lease cost $ 2,499 $ 2,095 Short-term lease cost - 25 Variable lease cost 383 300 Sublease income (16 ) (29 ) Net lease cost $ 2,866 $ 2,391 |
Note 7 - Employee and Director
Note 7 - Employee and Director Benefits | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 7 Stock Incentive Plan The Company has a stock incentive plan as described below. The compensation cost that has been charged to earnings for the plan was approximately $982,000 and $1.8 million for the three six June 30, 2023, three six June 30, 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 an index of southeastern United States publicly traded banks. The expected term for options granted is based on the simplified method and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U. S. Treasury yield curve in effect at the time of grant. There were no grants of stock options during the three six June 30, 2023 2022. The following table summarizes stock option activity during the six June 30, 2023 2022: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (years) Value (In Thousands) Six Months Ended June 30, 2023: Outstanding at January 1, 2023 280,000 $ 19.43 3.0 $ 14,088 Exercised (87,700 ) 12.04 1.0 2,533 Forfeited (1,000 ) 34.09 5.6 7 Outstanding at June 30, 2023 191,300 22.65 3.4 $ 6,235 Exercisable at June 30, 2023 137,800 $ 16.83 1.9 $ 3,432 Six Months Ended June 30, 2022: Outstanding at January 1, 2022 353,250 $ 19.28 3.8 $ 23,525 Exercised (48,000 ) 17.85 2.8 2,931 Outstanding at June 30, 2022 305,250 $ 19.51 3.4 $ 18,431 Exercisable at June 30, 2022 243,500 $ 14.77 2.5 $ 15,924 As of June 30, 2023, eight Restricted Stock and Performance Shares The Company periodically grants restricted stock awards that vest upon time-based service conditions. Dividend payments are made during the vesting period. The value of restricted stock is determined to be the current value of the Company’s stock, and this total value will be recognized as compensation expense over the vesting period. As of June 30, 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 market conditions. The number of performance shares earned is determined by reference to the Company’s total shareholder return relative to a peer group of other publicly traded banks and bank holding companies during the performance period. The performance period is generally three June 30, 2023, June 30, 2023, Restricted Stock Performance Shares Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Six Months Ended June 30, 2023: Non-vested at January 1, 2023 141,580 $ 56.39 23,852 $ 54.16 Granted 47,309 60.40 8,091 70.29 Vested (29,852 ) 52.27 - - Forfeited (10,041 ) 63.90 - - Non-vested at June 30, 2023 148,996 $ 57.98 31,943 $ 58.25 Six Months Ended June 30, 2022: Non-vested at January 1, 2022 127,602 $ 42.27 12,437 $ 37.05 Granted 46,266 83.06 9,165 69.68 Vested (23,507 ) 44.85 - - Forfeited (3,498 ) 53.25 - - Non-vested at June 30, 2022 146,863 $ 54.45 21,602 $ 50.89 |
Note 8 - Derivatives
Note 8 - Derivatives | 6 Months Ended |
Jun. 30, 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 2020 not one May 4, 2023. The Company has entered into forward loan sale commitments with secondary market investors to deliver loans on a “best efforts delivery” basis, which do not 30 not no June 30, 2023 December 31, 2022 not |
Note 9 - Recently Adopted Accou
Note 9 - Recently Adopted Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
New Adopted Accounting Pronouncements [Text Block] | NOTE 9 RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In March 2022, 2022 02 . 310 40, Receivables Trouble Debt Restructurings by Creditors 2016 13, Financial Instruments-Credit Losses (Topic 326 326 20. 326 20 50 6, 2022 02 January 1, 2023 2022 02 not |
Note 10 - Recent Accounting Pro
Note 10 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | NOTE 10 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 | 6 Months Ended |
Jun. 30, 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 June 30, 2023 December 31, 2022 three six June 30, 2023, three six June 30, 2022, Other Real Estate Owned not June 30, 2023 December 31, 2022 3 three six June 30, 2023, three six June 30, 2022, 3 There were two June 30, 2023, two December 31, 2022. Two residential real estate loans for $181,000 were in the process of being foreclosed as of June 30, 2023. December 31, 2022. The following table presents the Company’s financial assets carried at fair value on a recurring basis as of June 30, 2023 December 31, 2022. June 30, 2023 December 31, 2022. Fair Value Measurements at June 30, 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 $ 414,454 $ - $ - $ 414,454 Government agency securities - 4 - 4 Mortgage-backed securities - 229,942 - 229,942 State and municipal securities - 11,963 - 11,963 Corporate debt - 327,698 6,860 334,558 Total available-for-sale debt securities 414,454 569,607 6,860 990,921 Total assets at fair value $ 414,454 $ 569,607 $ 6,860 $ 990,921 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 June 30, 2023 December 31, 2022: Fair Value Measurements at June 30, 2023 Quoted Prices in Significant Other Significant Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 70,677 $ 70,677 Other real estate owned and repossessed assets - - 832 832 Total assets at fair value $ - $ - $ 71,509 $ 71,509 Fair Value Measurements at December 31, 2022 Quoted Prices in Significant Other Significant Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 73,017 $ 73,017 Other real estate owned and repossessed assets - - 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 June 30, 2023, December 31, 2022. In the case of the investment securities portfolio, the Company monitors the portfolio to ascertain when transfers between levels have been affected. The nature of the remaining assets and liabilities is such that transfers in and out of any level are expected to be rare. For the six June 30, 2023, one 3 2. The table below includes a rollforward of the balance sheet amounts for the three six June 30, 2023 June 30, 2022 ( 3 For the three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 Available-for- Available-for- Available-for- Available-for- (In Thousands) Fair value, beginning of period $ 6,860 $ 11,500 $ 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 - (462 ) 160 (805 ) Purchases - - - - Transfers out of Level 3 - (5,038 ) (4,160 ) (10,187 ) Fair value, end of period $ 6,860 $ 6,000 $ 6,860 $ 6,000 The fair value of a financial instrument is the current amount that would be exchanged in a sale between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no not may not may not The estimated fair values of the Company’s financial instruments not June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 959,734 $ 959,734 $ 814,538 $ 814,538 Held to maturity U.S. Treasury securities 557,084 522,826 507,601 470,954 Level 2 Inputs: Federal funds sold 17,958 17,958 1,515 1,515 Held to maturity debt securities 499,972 440,767 526,720 464,749 Mortgage loans held for sale 3,981 3,943 1,607 1,604 Restricted equity securities 7,307 7,307 7,734 7,734 Level 3 Inputs: Held to maturity debt securities 250 250 250 250 Loans, net 11,452,622 11,021,748 11,541,671 11,265,517 Financial Liabilities: Level 2 Inputs: Deposits $ 12,288,219 $ 12,272,714 $ 11,546,805 $ 11,529,647 Federal funds purchased 1,298,066 1,298,066 1,618,798 1,618,798 Other borrowings 64,737 57,583 64,726 57,101 |
Item 5 - Other Information
Item 5 - Other Information | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Issuer Rule 10b5-1, Material Terms [Text Block] | 5. (a) On April 17, 2023, second April 24, 2023, (b) The Company did not may June 30, 2023. (c) None 10b5 1 10b5 1 June 30, 2023. |
Note 3 - Earnings Per Common _2
Note 3 - Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 54,411,016 54,295,789 54,385,775 54,279,574 Net income available to common stockholders $ 53,437 $ 62,105 $ 111,408 $ 119,718 Basic earnings per common share $ 0.98 $ 1.14 $ 2.05 $ 2.21 Weighted average common shares outstanding 54,411,016 54,295,789 54,385,775 54,279,574 Dilutive effects of assumed exercise of stock options and vesting of performance shares 94,710 236,596 134,250 247,668 Weighted average common and dilutive potential common shares outstanding 54,505,726 54,532,385 54,520,025 54,527,242 Net income available to common stockholders $ 53,437 $ 62,105 $ 111,408 $ 119,718 Diluted earnings per common share $ 0.98 $ 1.14 $ 2.04 $ 2.20 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair Cost Gain Loss Value June 30, 2023 (In Thousands) Debt Securities Available-for-Sale U.S. Treasury Securities $ 414,470 $ 47 $ (63 ) $ 414,454 Government Agency Securities 4 - - 4 Mortgage-backed securities 261,450 2 (31,510 ) 229,942 State and municipal securities 13,409 1 (1,447 ) 11,963 Corporate debt 385,673 - (51,115 ) 334,558 Total $ 1,075,006 $ 50 $ (84,135 ) $ 990,921 Debt Securities Held-to-Maturity U.S. Treasury Securities $ 557,084 $ - $ (34,258 ) $ 522,826 Mortgage-backed securities 492,170 1 (58,302 ) 433,869 State and municipal securities 8,052 - (904 ) 7,148 Total $ 1,057,306 $ 1 $ (93,464 ) $ 963,843 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] | June 30, 2023 December 31, 2022 Amortized Cost Fair Value Amortized Cost Fair Value (In Thousands) Debt securities available-for-sale Due within one year $ 449,651 $ 448,911 $ 24,712 $ 24,432 Due from one to five years 31,741 29,817 58,554 57,092 Due from five to ten years 329,164 280,122 338,630 311,100 Due after ten years 3,000 2,129 3,000 2,488 Mortgage-backed securities 261,450 229,942 282,480 249,703 $ 1,075,006 $ 990,921 $ 707,376 $ 644,815 Debt securities held-to-maturity Due within one year $ 122,152 $ 120,402 $ 250 $ 250 Due from one to five years 314,773 297,631 386,465 366,095 Due from five to ten years 128,211 111,941 128,477 111,632 Mortgage-backed securities 492,170 433,869 518,929 457,976 $ 1,057,306 $ 963,843 $ 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) June 30, 2023 Debt Securities available-for-sale U.S. Treasury Securities $ (63 ) $ 214,652 $ - $ - $ (63 ) $ 214,652 Government Agency Securities - 4 - - - 4 Mortgage-backed securities (19 ) 1,097 (31,490 ) 228,603 (31,510 ) 229,700 State and municipal securities (24 ) 2,176 (1,423 ) 9,342 (1,447 ) 11,518 Corporate debt (6,118 ) 69,657 (44,996 ) 258,041 (51,115 ) 327,698 Total $ (6,225 ) $ 287,586 $ (77,910 ) $ 495,986 $ (84,135 ) $ 783,572 Debt Securities held-to-maturity U.S. Treasury Securities $ (6 ) $ 49,020 $ (34,252 ) $ 473,806 $ (34,258 ) $ 522,826 Mortgage-backed securities (621 ) 10,241 (57,681 ) 419,852 (58,302 ) 430,093 State and municipal securities - - (904 ) 6,898 (904 ) 6,898 Total $ (627 ) $ 59,261 $ (92,836 ) $ 900,556 $ (93,464 ) $ 959,817 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 Debt Securities held-to-maturity 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In Thousands) Sale proceeds $ - $ 33,425 $ - $ 75,036 Gross realized gains $ - $ - $ - $ - Gross realized losses - (2,833 ) - (6,168 ) Net realized gain (loss) $ - $ (2,833 ) $ - $ (6,168 ) |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2023 2022 (Dollars In Thousands) Commercial, financial and agricultural $ 2,986,453 $ 3,145,317 Real estate - construction 1,397,732 1,532,388 Real estate - mortgage: Owner-occupied commercial 2,294,002 2,199,280 1-4 family mortgage 1,167,238 1,146,831 Other mortgage 3,686,434 3,597,750 Subtotal: Real estate - mortgage 7,147,674 6,943,861 Consumer 73,035 66,402 Total Loans 11,604,894 11,687,968 Less: Allowance for credit losses (152,272 ) (146,297 ) Net Loans $ 11,452,622 $ 11,541,671 Commercial, financial and agricultural 25.73 % 26.91 % Real estate - construction 12.04 % 13.11 % Real estate - mortgage: Owner-occupied commercial 19.77 % 18.82 % 1-4 family mortgage 10.06 % 9.81 % Other mortgage 31.77 % 30.78 % Subtotal: Real estate - mortgage 61.59 % 59.41 % Consumer 0.63 % 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 Pass $ 188,322 $ 452,817 $ 274,416 $ 175,236 $ 232,062 $ 524,756 $ 1,031,315 $ 5,827 $ 2,884,751 Special Mention 1,209 2,018 5,105 6,327 1,969 13,801 17,946 - 48,375 Substandard - accruing - - - 374 10,853 24,514 9,783 - 45,524 Substandard -Non-accrual - 452 146 - 2,101 3,211 1,894 - 7,804 Total Commercial, financial and agricultural $ 189,531 $ 455,287 $ 279,667 $ 181,937 $ 246,985 $ 566,282 $ 1,060,937 $ 5,827 $ 2,986,453 Current-period gross charge-offs - 4,677 - - - 446 492 - 5,615 Real estate - construction Pass $ 50,354 $ 646,738 $ 235,612 $ 36,480 $ 7,935 $ 17,850 $ 401,532 $ - $ 1,396,501 Special Mention - - - - - 200 19 - 219 Substandard - accruing - - - - - 1,011 1 - 1,012 Total Real estate - construction $ 50,354 $ 646,738 $ 235,612 $ 36,480 $ 7,935 $ 19,061 $ 401,552 $ - $ 1,397,732 Owner-occupied commercial Pass $ 27,570 $ 362,863 $ 208,803 $ 306,095 $ 188,247 $ 384,494 $ 768,636 $ 1,741 $ 2,248,449 Special Mention 5,386 1,187 840 7,715 8,679 2,816 6,851 - 33,474 Substandard - accruing - - - - - 3,498 3,074 - 6,572 Substandard -Non-accrual - - - - 2,332 - 3,175 - 5,507 Total Owner-occupied commercial $ 32,956 $ 364,050 $ 209,643 $ 313,810 $ 199,258 $ 390,808 $ 781,736 $ 1,741 $ 2,294,002 Current-period gross charge-offs - - - - 117 - - - 117 1-4 family mortgage Pass $ 46,213 $ 391,730 $ 209,540 $ 96,218 $ 63,229 $ 121,505 $ 224,137 $ 69 $ 1,152,641 Special Mention - 4,710 1,080 1,193 237 1,204 2,108 - 10,532 Substandard - accruing - - - - 3 541 442 - 986 Substandard -Non-accrual - - 422 733 1,152 773 - - 3,080 Total 1-4 family mortgage $ 46,213 $ 396,440 $ 211,042 $ 98,144 $ 64,621 $ 124,023 $ 226,686 $ 69 $ 1,167,238 Current-period gross charge-offs - 40 - - - - - - 40 Other mortgage Pass $ 23,499 $ 881,657 $ 444,982 $ 397,700 $ 260,033 $ 414,557 $ 1,234,081 $ 12,321 $ 3,668,830 Special Mention - - - - - 1,050 4,431 - 5,482 Substandard - accruing - 236 - - - 11,380 - - 11,616 Substandard -Non-accrual - - - - 130 376 - - 506 Total Other mortgage $ 23,499 $ 881,893 $ 444,982 $ 397,700 $ 260,163 $ 427,363 $ 1,238,513 $ 12,321 $ 3,686,434 Consumer Pass $ 23,293 $ 12,787 $ 1,242 $ 4,428 $ 2,206 $ 6,463 $ 22,607 $ - $ 73,026 Special Mention - - - - - - 9 - 9 Substandard - accruing - - - - - - - - - Total Consumer $ 23,293 $ 12,787 $ 1,242 $ 4,428 $ 2,206 $ 6,463 $ 22,616 $ - $ 73,035 Current-period gross charge-offs - - - - - - 501 - 501 Total Loans Pass $ 359,251 $ 2,748,592 $ 1,374,595 $ 1,016,157 $ 753,712 $ 1,469,625 $ 3,682,308 $ 19,958 $ 11,424,198 Special Mention 6,595 7,915 7,025 15,235 10,885 19,071 31,364 - 98,090 Substandard - accruing - 236 - 374 10,856 40,947 13,296 - 65,709 Substandard -Non-accrual - 452 568 733 5,716 4,360 5,069 - 16,897 Total Loans $ 365,846 $ 2,757,195 $ 1,382,188 $ 1,032,499 $ 781,169 $ 1,534,003 $ 3,732,037 $ 19,958 $ 11,604,894 Current-period gross charge-offs $ - $ 4,717 $ - $ - $ 117 $ 446 $ 993 $ - $ 6,273 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] | June 30, 2023 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,978,515 $ 7,938 $ 2,986,453 Real estate - construction 1,397,732 - 1,397,732 Real estate - mortgage: Owner-occupied commercial 2,288,496 5,506 2,294,002 1-4 family mortgage 1,162,842 4,396 1,167,238 Other mortgage 3,681,497 4,937 3,686,434 Total real estate mortgage 7,132,835 14,839 7,147,674 Consumer 72,968 67 73,035 Total $ 11,582,050 $ 22,844 $ 11,604,894 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] | June 30, 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 $ 3,280 $ 596 $ 142 $ 4,018 $ 7,796 $ 2,974,639 $ 2,986,453 $ 3,815 Real estate - construction - 19 - 19 - 1,397,713 1,397,732 - Real estate - mortgage: Owner-occupied commercial 2,279 670 - 2,949 5,506 2,285,547 2,294,002 5,505 1-4 family mortgage 1,356 3,274 1,307 5,937 3,089 1,158,212 1,167,238 109 Other mortgage - - 4,431 4,431 506 3,681,497 3,686,434 506 Total real estate - mortgage 3,635 3,944 5,738 13,317 9,101 7,125,256 7,147,674 6,120 Consumer 49 29 67 145 - 72,890 73,035 - Total $ 6,964 $ 4,588 $ 5,947 $ 17,499 $ 16,897 $ 11,570,498 $ 11,604,894 $ 9,935 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 June 30, 2023 Allowance for credit losses: Balance at April 1, 2023 $ 42,895 $ 40,483 $ 63,157 $ 2,430 $ 148,965 Charge-offs (4,336 ) - (131 ) (133 ) (4,600 ) Recoveries 1,232 - - 21 1,253 Provision 3,674 (40 ) 3,211 (191 ) 6,654 Balance at June 30, 2023 $ 43,465 $ 40,443 $ 66,237 $ 2,127 $ 152,272 Three Months Ended June 30, 2022 Allowance for credit losses: Balance at April 1, 2022 $ 41,417 $ 27,821 $ 48,548 $ 1,677 $ 119,463 Charge-offs (1,666 ) - (23 ) (124 ) (1,813 ) Recoveries 1,217 - - 13 1,230 Provision 642 8,172 268 426 9,507 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 Six Months Ended June 30, 2023 Allowance for credit losses: Balance at January 1, 2023 $ 42,830 $ 42,889 $ 58,652 $ 1,926 $ 146,297 Charge-offs (5,593 ) - (157 ) (501 ) (6,273 ) Recoveries 1,360 3 1 32 1,396 Provision 4,868 (2,449 ) 7,740 692 10,851 Balance at June 30, 2023 $ 43,465 $ 40,443 $ 66,237 $ 2,127 $ 152,272 Six Months Ended June 30, 2022 Allowance for credit losses: Balance at January 1, 2022 $ 41,869 $ 26,994 $ 45,829 $ 1,968 $ 116,660 Charge-offs (4,240 ) - (51 ) (199 ) (4,489 ) Recoveries 1,322 - - 25 1,347 Provision 2,659 8,999 3,014 198 14,869 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | Accounts ACL June 30, 2023 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 20,596 $ 7,944 $ 830 $ 23,962 $ 53,332 $ 11,166 Real estate - construction - - - 1,011 1,011 2 Real estate - mortgage: Owner-occupied commercial 12,034 - - 48 12,082 226 1-4 family mortgage 11,259 - - - 11,259 78 Other mortgage 4,850 - - - 4,850 385 Total real estate - mortgage 28,143 - - 48 28,191 689 Consumer - - - - - - Total $ 48,739 $ 7,944 $ 830 $ 25,021 $ 82,534 $ 11,857 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] | Three months ended June 30, 2023 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 2,951 $ - $ 2,951 0.03 % Owner-occupied commercial 2,511 - 2,511 0.02 % Total $ 5,462 $ - $ 5,462 0.05 % Six months ended June 30, 2023 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 42,052 $ - $ 42,052 0.36 % Real estate - construction 200 - 200 - % Owner-occupied commercial 11,703 701 12,404 0.11 % 1-4 family mortgage 214 - 214 - % Other mortgage 11,254 359 11,613 0.10 % Total $ 65,423 $ 1,060 $ 66,483 0.57 % Three months ended June 30, 2023 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 9 to 65 $ - Real estate - construction - - Owner-occupied commercial 9 to 60 - 1-4 family mortgage - - Other mortgage - - Six months ended June 30, 2023 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 3 to 65 $ - Real estate - construction 6 - Owner-occupied commercial 3 to 60 49 1-4 family mortgage 3 - Other mortgage 3 to 36 59 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | June 30, 2023 (In Thousands) 2023 (remaining) $ 2,331 2024 3,916 2025 3,832 2026 3,284 2027 2,694 thereafter 6,096 Total lease payments 22,153 Less: imputed interest (1,871 ) Present value of operating lease liabilities $ 20,282 |
Lease, Cost [Table Text Block] | Three Months Ended June 30, 2023 2022 Operating lease cost $ 1,269 $ 1,051 Short-term lease cost - 17 Variable lease cost 192 151 Sublease income (8 ) (5 ) Net lease cost $ 1,453 $ 1,214 Six Months Ended June 30, 2023 2022 Operating lease cost $ 2,499 $ 2,095 Short-term lease cost - 25 Variable lease cost 383 300 Sublease income (16 ) (29 ) Net lease cost $ 2,866 $ 2,391 |
Note 7 - Employee and Directo_2
Note 7 - Employee and Director Benefits (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (years) Value (In Thousands) Six Months Ended June 30, 2023: Outstanding at January 1, 2023 280,000 $ 19.43 3.0 $ 14,088 Exercised (87,700 ) 12.04 1.0 2,533 Forfeited (1,000 ) 34.09 5.6 7 Outstanding at June 30, 2023 191,300 22.65 3.4 $ 6,235 Exercisable at June 30, 2023 137,800 $ 16.83 1.9 $ 3,432 Six Months Ended June 30, 2022: Outstanding at January 1, 2022 353,250 $ 19.28 3.8 $ 23,525 Exercised (48,000 ) 17.85 2.8 2,931 Outstanding at June 30, 2022 305,250 $ 19.51 3.4 $ 18,431 Exercisable at June 30, 2022 243,500 $ 14.77 2.5 $ 15,924 |
Share-Based Payment Arrangement, Outstanding Award, Activity, Excluding Option [Table Text Block] | Restricted Stock Performance Shares Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Six Months Ended June 30, 2023: Non-vested at January 1, 2023 141,580 $ 56.39 23,852 $ 54.16 Granted 47,309 60.40 8,091 70.29 Vested (29,852 ) 52.27 - - Forfeited (10,041 ) 63.90 - - Non-vested at June 30, 2023 148,996 $ 57.98 31,943 $ 58.25 Six Months Ended June 30, 2022: Non-vested at January 1, 2022 127,602 $ 42.27 12,437 $ 37.05 Granted 46,266 83.06 9,165 69.68 Vested (23,507 ) 44.85 - - Forfeited (3,498 ) 53.25 - - Non-vested at June 30, 2022 146,863 $ 54.45 21,602 $ 50.89 |
Note 11 - Fair Value Measurem_2
Note 11 - Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 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 $ 414,454 $ - $ - $ 414,454 Government agency securities - 4 - 4 Mortgage-backed securities - 229,942 - 229,942 State and municipal securities - 11,963 - 11,963 Corporate debt - 327,698 6,860 334,558 Total available-for-sale debt securities 414,454 569,607 6,860 990,921 Total assets at fair value $ 414,454 $ 569,607 $ 6,860 $ 990,921 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 June 30, 2023 Quoted Prices in Significant Other Significant Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 70,677 $ 70,677 Other real estate owned and repossessed assets - - 832 832 Total assets at fair value $ - $ - $ 71,509 $ 71,509 Fair Value Measurements at December 31, 2022 Quoted Prices in Significant Other Significant Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 73,017 $ 73,017 Other real estate owned and repossessed assets - - 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 three months ended June 30, For the six months ended June 30, 2023 2022 2023 2022 Available-for- Available-for- Available-for- Available-for- (In Thousands) Fair value, beginning of period $ 6,860 $ 11,500 $ 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 - (462 ) 160 (805 ) Purchases - - - - Transfers out of Level 3 - (5,038 ) (4,160 ) (10,187 ) Fair value, end of period $ 6,860 $ 6,000 $ 6,860 $ 6,000 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2023 December 31, 2022 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 959,734 $ 959,734 $ 814,538 $ 814,538 Held to maturity U.S. Treasury securities 557,084 522,826 507,601 470,954 Level 2 Inputs: Federal funds sold 17,958 17,958 1,515 1,515 Held to maturity debt securities 499,972 440,767 526,720 464,749 Mortgage loans held for sale 3,981 3,943 1,607 1,604 Restricted equity securities 7,307 7,307 7,734 7,734 Level 3 Inputs: Held to maturity debt securities 250 250 250 250 Loans, net 11,452,622 11,021,748 11,541,671 11,265,517 Financial Liabilities: Level 2 Inputs: Deposits $ 12,288,219 $ 12,272,714 $ 11,546,805 $ 11,529,647 Federal funds purchased 1,298,066 1,298,066 1,618,798 1,618,798 Other borrowings 64,737 57,583 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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Weighted average common shares outstanding (in shares) | 54,411,016 | 54,295,789 | 54,385,775 | 54,279,574 |
Net income available to common stockholders | $ 53,437 | $ 62,105 | $ 111,408 | $ 119,718 |
Basic earnings per common share (in dollars per share) | $ 0.98 | $ 1.14 | $ 2.05 | $ 2.21 |
Dilutive effects of assumed exercise of stock options and vesting of performance shares (in shares) | 94,710 | 236,596 | 134,250 | 247,668 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 54,505,726 | 54,532,385 | 54,520,025 | 54,527,242 |
Net income available to common stockholders | $ 53,437 | $ 62,105 | $ 111,408 | $ 119,718 |
Diluted earnings per common share (in dollars per share) | $ 0.98 | $ 1.14 | $ 2.04 | $ 2.20 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 |
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Current | $ 0 | $ 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 | $ 1,300,000 | $ 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 | Jun. 30, 2023 | Dec. 31, 2022 | |
Available for sale, amortized cost | $ 1,075,006 | $ 707,376 | |
Available for sale, gross unrealized gain | 50 | 6 | |
Available for sale, gross unrealized loss | (84,135) | (62,567) | |
Available for sale, fair value | 990,921 | 644,815 | [1] |
Held to maturity, amortized cost | 1,057,306 | 1,034,121 | [1] |
Held to maturity, gross unrealized gain | 1 | 7 | |
Held to maturity, gross unrealized loss | (93,464) | (98,175) | |
Held to maturity debt securities, fair value | 963,843 | 935,953 | |
US Treasury Securities [Member] | |||
Available for sale, amortized cost | 414,470 | 3,002 | |
Available for sale, gross unrealized gain | 47 | 0 | |
Available for sale, gross unrealized loss | (63) | (33) | |
Available for sale, fair value | 414,454 | 2,969 | |
Held to maturity, amortized cost | 557,084 | 507,151 | |
Held to maturity, gross unrealized gain | 0 | 0 | |
Held to maturity, gross unrealized loss | (34,258) | (36,197) | |
Held to maturity debt securities, fair value | 522,826 | 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 | 261,450 | 282,480 | |
Available for sale, gross unrealized gain | 2 | 5 | |
Available for sale, gross unrealized loss | (31,510) | (32,782) | |
Available for sale, fair value | 229,942 | 249,703 | |
Held to maturity, amortized cost | 492,170 | 518,929 | |
Held to maturity, gross unrealized gain | 1 | 7 | |
Held to maturity, gross unrealized loss | (58,302) | (60,960) | |
Held to maturity debt securities, fair value | 433,869 | 457,976 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, amortized cost | 13,409 | 15,205 | |
Available for sale, gross unrealized gain | 1 | 1 | |
Available for sale, gross unrealized loss | (1,447) | (1,597) | |
Available for sale, fair value | 11,963 | 13,609 | |
Held to maturity, amortized cost | 8,052 | 8,041 | |
Held to maturity, gross unrealized gain | 0 | 0 | |
Held to maturity, gross unrealized loss | (904) | (1,018) | |
Held to maturity debt securities, fair value | 7,148 | 7,023 | |
Corporate Debt Securities [Member] | |||
Available for sale, amortized cost | 385,673 | 406,680 | |
Available for sale, gross unrealized gain | 0 | 0 | |
Available for sale, gross unrealized loss | (51,115) | (28,155) | |
Available for sale, fair value | $ 334,558 | $ 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 | Jun. 30, 2023 | Dec. 31, 2022 | |
Due within one year, amortized cost | $ 449,651 | $ 24,712 | |
Due within one year, fair value | 448,911 | 24,432 | |
Due from one to five years, amortized cost | 31,741 | 58,554 | |
Due from one to five years, fair value | 29,817 | 57,092 | |
Due from five to ten years, amortized cost | 329,164 | 338,630 | |
Due from five to ten years, fair value | 280,122 | 311,100 | |
Due after ten years, amortized cost | 3,000 | 3,000 | |
Due after ten years, fair value | 2,129 | 2,488 | |
Mortgage-backed securities, amortized cost | 261,450 | 282,480 | |
Mortgage-backed securities, fair value | 229,942 | 249,703 | |
Available for sale, amortized cost | 1,075,006 | 707,376 | |
Available for sale, fair value | 990,921 | 644,815 | [1] |
Held to maturity debt securities, Due within one year | 122,152 | 250 | |
Held to maturity debt securities, Due within one year | 120,402 | 250 | |
Held to maturity debt securities, Due from one to five years | 314,773 | 386,465 | |
Held to maturity debt securities, Due from one to five years | 297,631 | 366,095 | |
Held to maturity debt securities, Due from five to ten years | 128,211 | 128,477 | |
Held to maturity debt securities, Due from five to ten years | 111,941 | 111,632 | |
Mortgage-backed securities, amortized cost | 492,170 | 518,929 | |
Mortgage-backed securities, fair value | 433,869 | 457,976 | |
Held to maturity, amortized cost | 1,057,306 | 1,034,121 | |
Held to maturity debt securities, fair value | $ 963,843 | $ 935,953 | |
[1]derived from audited financial statements. |
Note 4 - Securities - Investmen
Note 4 - Securities - Investment Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Debt securities available for sale, less than twelve months, gross unrealized losses | $ (6,225) | $ (22,258) |
Debt securities available for sale, less than twelve months, fair value | 287,586 | 372,749 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (77,910) | (40,309) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 495,986 | 260,400 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (84,135) | (62,567) |
Debt Securities, Available for Sale, Fair Value | 783,572 | 633,149 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (627) | (44,573) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 59,261 | 578,572 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (92,836) | (53,603) |
U.S. Treasury Securities | 900,556 | 352,742 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (93,464) | (98,175) |
Debt Securities,Held To Maturity, Fair Value | 959,817 | 931,314 |
US Treasury Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (63) | (33) |
Debt securities available for sale, less than twelve months, fair value | 214,652 | 2,969 |
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 | (63) | (33) |
Debt Securities, Available for Sale, Fair Value | 214,652 | 2,969 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (6) | (12,662) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 49,020 | 295,383 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (34,252) | (23,537) |
U.S. Treasury Securities | 473,806 | 175,570 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (34,258) | (36,197) |
Debt Securities,Held To Maturity, Fair Value | 522,826 | 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 | (19) | (3,473) |
Debt securities available for sale, less than twelve months, fair value | 1,097 | 60,234 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (31,490) | (29,309) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 228,603 | 189,109 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (31,510) | (32,782) |
Debt Securities, Available for Sale, Fair Value | 229,700 | 249,343 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (621) | (31,367) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 10,241 | 278,746 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (57,681) | (29,592) |
U.S. Treasury Securities | 419,852 | 174,842 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (58,302) | (60,960) |
Debt Securities,Held To Maturity, Fair Value | 430,093 | 453,588 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (24) | (186) |
Debt securities available for sale, less than twelve months, fair value | 2,176 | 5,283 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (1,423) | (1,411) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 9,342 | 7,880 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (1,447) | (1,597) |
Debt Securities, Available for Sale, Fair Value | 11,518 | 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 | (904) | (474) |
U.S. Treasury Securities | 6,898 | 2,330 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (904) | (1,018) |
Debt Securities,Held To Maturity, Fair Value | 6,898 | 6,773 |
Corporate Debt Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (6,118) | (18,566) |
Debt securities available for sale, less than twelve months, fair value | 69,657 | 304,254 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (44,996) | (9,589) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 258,041 | 63,411 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (51,115) | (28,155) |
Debt Securities, Available for Sale, Fair Value | $ 327,698 | $ 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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Sale proceeds | $ 0 | $ 33,425 | $ 0 | $ 75,036 |
Gross realized gains | 0 | 0 | 0 | 0 |
Gross realized losses | 0 | (2,833) | 0 | (6,168) |
Net realized gain (loss) | $ 0 | $ (2,833) | $ 0 | $ (6,168) |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) Pure in Thousands | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | ||
Financing Receivable, Allowance for Credit Loss | $ 152,272,000 | $ 128,387,000 | $ 152,272,000 | $ 128,387,000 | $ 148,965,000 | $ 146,297,000 | [1] | $ 119,463,000 | $ 116,660,000 |
Financing Receivable, Credit Loss, Expense (Reversal) | 6,654,000 | 9,507,000 | $ 10,851,000 | 14,869,000 | |||||
Financing Receivable, Modified, Subsequent Default, Number of Contracts | 0 | ||||||||
Financing Receivable, Modified, Accumulated | 2,100,000 | 2,100,000 | 2,500,000 | ||||||
Financing Receivable, Modifications, Recorded Investment, Accruing Interest | 421,000 | $ 421,000 | 431,000 | ||||||
Financing Receivable, Modified, Number of Contracts | 0 | ||||||||
Unfunded Loan Commitment [Member] | |||||||||
Financing Receivable, Allowance for Credit Loss | 575,000 | $ 575,000 | $ 575,000 | ||||||
Financing Receivable, Credit Loss, Expense (Reversal) | $ 0 | $ 0 | $ 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 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Financing receivable, gross | $ 11,604,894 | $ 11,687,968 | [1] | ||||
Less: Allowance for credit losses | (152,272) | $ (148,965) | (146,297) | [1] | $ (128,387) | $ (119,463) | $ (116,660) |
Net Loans | $ 11,452,622 | $ 11,541,671 | [1] | ||||
Financing receivable, gross percentage | 100% | 100% | |||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Financing receivable, gross | $ 2,986,453 | $ 3,145,317 | |||||
Financing receivable, gross percentage | 25.73% | 26.91% | |||||
Real Estate Portfolio Segment[Member] | |||||||
Financing receivable, gross | $ 7,147,674 | $ 6,943,861 | |||||
Financing receivable, gross percentage | 61.59% | 59.41% | |||||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||||
Financing receivable, gross | $ 1,397,732 | $ 1,532,388 | |||||
Less: Allowance for credit losses | $ (40,443) | (40,483) | $ (42,889) | (35,993) | (27,821) | (26,994) | |
Financing receivable, gross percentage | 12.04% | 13.11% | |||||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||||
Financing receivable, gross | $ 2,294,002 | $ 2,199,280 | |||||
Financing receivable, gross percentage | 19.77% | 18.82% | |||||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||||
Financing receivable, gross | $ 1,167,238 | $ 1,146,831 | |||||
Financing receivable, gross percentage | 10.06% | 9.81% | |||||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||||
Financing receivable, gross | $ 3,686,434 | $ 3,597,750 | |||||
Financing receivable, gross percentage | 31.77% | 30.78% | |||||
Consumer Portfolio Segment [Member] | |||||||
Financing receivable, gross | $ 73,035 | $ 66,402 | |||||
Less: Allowance for credit losses | $ (2,127) | $ (2,430) | $ (1,926) | $ (1,992) | $ (1,677) | $ (1,968) | |
Financing receivable, gross percentage | 0.63% | 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 | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||
Pass | $ 365,846 | $ 365,846 | $ 3,184,887 | |||
Pass | 2,757,195 | 2,757,195 | 2,897,101 | |||
Pass | 1,382,188 | 1,382,188 | 1,349,872 | |||
Pass | 1,032,499 | 1,032,499 | 809,041 | |||
Pass | 781,169 | 781,169 | 435,399 | |||
Pass | 1,534,003 | 1,534,003 | 1,209,613 | |||
Pass | 3,732,037 | 3,732,037 | 1,802,055 | |||
Pass | 19,958 | |||||
Financing receivable, gross | 11,604,894 | 11,604,894 | 11,687,968 | [1] | ||
Current-period gross charge-offs, current year | 0 | |||||
Current-period gross charge-offs, year two | 4,717 | |||||
Current-period gross charge-offs, year three | 0 | |||||
Current-period gross charge-offs, year four | 0 | |||||
Current-period gross charge-offs, year five | 117 | |||||
Current-period gross charge-offs, prior | 446 | |||||
Current-period gross charge-offs, revolving | 993 | |||||
Current-period gross charge-offs, revolving converted to term | 0 | |||||
Current-period gross charge-offs | 4,600 | $ 1,813 | 6,273 | $ 4,489 | ||
Performing Financial Instruments [Member] | ||||||
Financing receivable, gross | 11,582,050 | 11,582,050 | 11,670,127 | |||
Nonperforming Financial Instruments [Member] | ||||||
Financing receivable, gross | 22,844 | 22,844 | 17,841 | |||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Pass | 189,531 | 189,531 | ||||
Pass | 455,287 | 455,287 | ||||
Pass | 279,667 | 279,667 | ||||
Pass | 181,937 | 181,937 | ||||
Pass | 246,985 | 246,985 | ||||
Pass | 566,282 | 566,282 | ||||
Pass | 1,060,937 | 1,060,937 | ||||
Pass | 5,827 | |||||
Financing receivable, gross | 2,986,453 | 2,986,453 | 3,145,317 | |||
Current-period gross charge-offs, current year | 0 | |||||
Current-period gross charge-offs, year two | 4,677 | |||||
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 | 446 | |||||
Current-period gross charge-offs, revolving | 492 | |||||
Current-period gross charge-offs, revolving converted to term | 0 | |||||
Current-period gross charge-offs | 5,615 | |||||
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||||
Financing receivable, gross | 2,978,515 | 2,978,515 | 3,138,014 | |||
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||
Financing receivable, gross | 7,938 | 7,938 | 7,303 | |||
Real Estate Portfolio Segment[Member] | ||||||
Financing receivable, gross | 7,147,674 | 7,147,674 | 6,943,861 | |||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Pass | 50,354 | 50,354 | 621,078 | |||
Pass | 646,738 | 646,738 | 638,126 | |||
Pass | 235,612 | 235,612 | 156,834 | |||
Pass | 36,480 | 36,480 | 15,197 | |||
Pass | 7,935 | 7,935 | 13,261 | |||
Pass | 19,061 | 19,061 | 15,720 | |||
Pass | 401,552 | 401,552 | 72,172 | |||
Pass | 0 | |||||
Financing receivable, gross | 1,397,732 | 1,397,732 | 1,532,388 | |||
Current-period gross charge-offs | 0 | 0 | 0 | |||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Pass | 32,956 | 32,956 | 426,683 | |||
Pass | 364,050 | 364,050 | ||||
Pass | 209,643 | 209,643 | 352,375 | |||
Pass | 313,810 | 313,810 | 202,783 | |||
Pass | 199,258 | 199,258 | 161,886 | |||
Pass | 390,808 | 390,808 | 493,416 | |||
Pass | 781,736 | 781,736 | 65,839 | |||
Pass | 1,741 | |||||
Financing receivable, gross | 2,294,002 | 2,294,002 | 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 | 117 | |||||
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 | 117 | |||||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Pass | 46,213 | 46,213 | 389,093 | |||
Pass | 396,440 | 396,440 | 274,239 | |||
Pass | 211,042 | 211,042 | 94,492 | |||
Pass | 98,144 | 98,144 | 53,232 | |||
Pass | 64,621 | 64,621 | 29,639 | |||
Pass | 124,023 | 124,023 | 59,617 | |||
Pass | 226,686 | 226,686 | 246,519 | |||
Pass | 69 | |||||
Financing receivable, gross | 1,167,238 | 1,167,238 | 1,146,831 | |||
Current-period gross charge-offs, current year | 0 | |||||
Current-period gross charge-offs, year two | 40 | |||||
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 | 0 | |||||
Current-period gross charge-offs, revolving converted to term | 0 | |||||
Current-period gross charge-offs | 40 | |||||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Pass | 23,499 | 23,499 | 1,027,978 | |||
Pass | 881,893 | 881,893 | 976,208 | |||
Pass | 444,982 | 444,982 | 517,392 | |||
Pass | 397,700 | 397,700 | 380,234 | |||
Pass | 260,163 | 260,163 | 134,797 | |||
Pass | 427,363 | 427,363 | 485,472 | |||
Pass | 1,238,513 | 1,238,513 | 75,669 | |||
Pass | 12,321 | |||||
Financing receivable, gross | 3,686,434 | 3,686,434 | 3,597,750 | |||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | ||||||
Financing receivable, gross | 7,132,835 | 7,132,835 | 6,933,413 | |||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||||||
Financing receivable, gross | 1,397,732 | 1,397,732 | 1,532,388 | |||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||||
Financing receivable, gross | 2,288,496 | 2,288,496 | 2,195,968 | |||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||||||
Financing receivable, gross | 1,162,842 | 1,162,842 | 1,144,713 | |||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||||||
Financing receivable, gross | 3,681,497 | 3,681,497 | 3,592,732 | |||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | ||||||
Financing receivable, gross | 14,839 | 14,839 | 10,448 | |||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||||||
Financing receivable, gross | 0 | 0 | 0 | |||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||||
Financing receivable, gross | 5,506 | 5,506 | 3,312 | |||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||||||
Financing receivable, gross | 4,396 | 4,396 | 2,118 | |||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||||||
Financing receivable, gross | 4,937 | 4,937 | 5,018 | |||
Consumer Portfolio Segment [Member] | ||||||
Pass | 23,293 | 23,293 | 21,132 | |||
Pass | 12,787 | 12,787 | ||||
Pass | 1,242 | 1,242 | 4,203 | |||
Pass | 4,428 | 4,428 | 1,759 | |||
Pass | 2,206 | 2,206 | 440 | |||
Pass | 6,463 | 6,463 | 3,002 | |||
Pass | 22,616 | 22,616 | 30,021 | |||
Pass | 0 | |||||
Financing receivable, gross | 73,035 | 73,035 | 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 | 501 | |||||
Current-period gross charge-offs, revolving converted to term | 0 | |||||
Current-period gross charge-offs | 133 | $ 124 | 501 | $ 199 | ||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||||
Financing receivable, gross | 72,968 | 72,968 | 66,312 | |||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||
Financing receivable, gross | 67 | 67 | 90 | |||
Pass [Member] | ||||||
Pass | 359,251 | 359,251 | 3,172,373 | |||
Pass | 2,748,592 | 2,748,592 | 2,892,640 | |||
Pass | 1,374,595 | 1,374,595 | 1,347,172 | |||
Pass | 1,016,157 | 1,016,157 | 793,843 | |||
Pass | 753,712 | 753,712 | 407,411 | |||
Pass | 1,469,625 | 1,469,625 | 1,158,865 | |||
Pass | 3,682,308 | 3,682,308 | 1,752,649 | |||
Pass | 19,958 | |||||
Financing receivable, gross | 11,424,198 | 11,424,198 | 11,524,953 | |||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Pass | 188,322 | 188,322 | 691,817 | |||
Pass | 452,817 | 452,817 | 502,648 | |||
Pass | 274,416 | 274,416 | 223,096 | |||
Pass | 175,236 | 175,236 | 144,587 | |||
Pass | 232,062 | 232,062 | 78,477 | |||
Pass | 524,756 | 524,756 | 134,893 | |||
Pass | 1,031,315 | 1,031,315 | 1,267,333 | |||
Pass | 5,827 | |||||
Financing receivable, gross | 2,884,751 | 2,884,751 | 3,042,851 | |||
Pass [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Pass | 50,354 | 50,354 | 618,578 | |||
Pass | 646,738 | 646,738 | 638,126 | |||
Pass | 235,612 | 235,612 | 156,834 | |||
Pass | 36,480 | 36,480 | 15,197 | |||
Pass | 7,935 | 7,935 | 12,063 | |||
Pass | 17,850 | 17,850 | 14,847 | |||
Pass | 401,532 | 401,532 | 72,172 | |||
Pass | 0 | |||||
Financing receivable, gross | 1,396,501 | 1,396,501 | 1,527,817 | |||
Pass [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Pass | 27,570 | 27,570 | 424,321 | |||
Pass | 362,863 | 362,863 | 496,298 | |||
Pass | 208,803 | 208,803 | 352,375 | |||
Pass | 306,095 | 306,095 | 199,987 | |||
Pass | 188,247 | 188,247 | 157,204 | |||
Pass | 384,494 | 384,494 | 477,926 | |||
Pass | 768,636 | 768,636 | 64,152 | |||
Pass | 1,741 | |||||
Financing receivable, gross | 2,248,449 | 2,248,449 | 2,172,263 | |||
Pass [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Pass | 46,213 | 46,213 | 388,778 | |||
Pass | 391,730 | 391,730 | 273,515 | |||
Pass | 209,540 | 209,540 | 93,272 | |||
Pass | 96,218 | 96,218 | 52,209 | |||
Pass | 63,229 | 63,229 | 28,999 | |||
Pass | 121,505 | 121,505 | 57,512 | |||
Pass | 224,137 | 224,137 | 243,302 | |||
Pass | 69 | |||||
Financing receivable, gross | 1,152,641 | 1,152,641 | 1,137,587 | |||
Pass [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Pass | 23,499 | 23,499 | 1,027,747 | |||
Pass | 881,657 | 881,657 | 976,208 | |||
Pass | 444,982 | 444,982 | 517,392 | |||
Pass | 397,700 | 397,700 | 380,104 | |||
Pass | 260,033 | 260,033 | 130,228 | |||
Pass | 414,557 | 414,557 | 470,699 | |||
Pass | 1,234,081 | 1,234,081 | 75,669 | |||
Pass | 12,321 | |||||
Financing receivable, gross | 3,668,830 | 3,668,830 | 3,578,047 | |||
Pass [Member] | Consumer Portfolio Segment [Member] | ||||||
Pass | 23,293 | 23,293 | 21,132 | |||
Pass | 12,787 | 12,787 | 5,845 | |||
Pass | 1,242 | 1,242 | 4,203 | |||
Pass | 4,428 | 4,428 | 1,759 | |||
Pass | 2,206 | 2,206 | 440 | |||
Pass | 6,463 | 6,463 | 2,988 | |||
Pass | 22,607 | 22,607 | 30,021 | |||
Pass | 0 | |||||
Financing receivable, gross | 73,026 | 73,026 | 66,388 | |||
Special Mention [Member] | ||||||
Pass | 6,595 | 6,595 | 12,314 | |||
Pass | 7,915 | 7,915 | 4,182 | |||
Pass | 7,025 | 7,025 | 1,917 | |||
Pass | 15,235 | 15,235 | 4,846 | |||
Pass | 10,885 | 10,885 | 5,546 | |||
Pass | 19,071 | 19,071 | 16,744 | |||
Pass | 31,364 | 31,364 | 34,057 | |||
Pass | 0 | |||||
Financing receivable, gross | 98,090 | 98,090 | 79,606 | |||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Pass | 1,209 | 1,209 | 6,906 | |||
Pass | 2,018 | 2,018 | 3,737 | |||
Pass | 5,105 | 5,105 | 1,101 | |||
Pass | 6,327 | 6,327 | 1,748 | |||
Pass | 1,969 | 1,969 | 570 | |||
Pass | 13,801 | 13,801 | 898 | |||
Pass | 17,946 | 17,946 | 29,516 | |||
Pass | 0 | |||||
Financing receivable, gross | 48,375 | 48,375 | 44,476 | |||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Pass | 0 | 0 | 2,500 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 200 | 200 | 873 | |||
Pass | 19 | 19 | 0 | |||
Pass | 0 | |||||
Financing receivable, gross | 219 | 219 | 3,373 | |||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Pass | 5,386 | 5,386 | 2,362 | |||
Pass | 1,187 | 1,187 | 0 | |||
Pass | 840 | 840 | 0 | |||
Pass | 7,715 | 7,715 | 2,723 | |||
Pass | 8,679 | 8,679 | 4,682 | |||
Pass | 2,816 | 2,816 | 6,917 | |||
Pass | 6,851 | 6,851 | 1,687 | |||
Pass | 0 | |||||
Financing receivable, gross | 33,474 | 33,474 | 18,371 | |||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Pass | 0 | 0 | 315 | |||
Pass | 4,710 | 4,710 | 445 | |||
Pass | 1,080 | 1,080 | 816 | |||
Pass | 1,193 | 1,193 | 375 | |||
Pass | 237 | 237 | 294 | |||
Pass | 1,204 | 1,204 | 881 | |||
Pass | 2,108 | 2,108 | 2,854 | |||
Pass | 0 | |||||
Financing receivable, gross | 10,532 | 10,532 | 5,980 | |||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Pass | 0 | 0 | 231 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 1,050 | 1,050 | 7,161 | |||
Pass | 4,431 | 4,431 | 0 | |||
Pass | 0 | |||||
Financing receivable, gross | 5,482 | 5,482 | 7,392 | |||
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||||||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 0 | |||
Pass | 0 | 0 | 14 | |||
Pass | 9 | 9 | 0 | |||
Pass | 0 | |||||
Financing receivable, gross | 9 | 9 | 14 | |||
Substandard [Member] | ||||||
Pass | 200 | |||||
Pass | 279 | |||||
Pass | 783 | |||||
Pass | 10,352 | |||||
Pass | 22,442 | |||||
Pass | 34,004 | |||||
Pass | 15,349 | |||||
Financing receivable, gross | 83,409 | |||||
Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 236 | 236 | ||||
Pass | 0 | 0 | ||||
Pass | 374 | 374 | ||||
Pass | 10,856 | 10,856 | ||||
Pass | 40,947 | 40,947 | ||||
Pass | 13,296 | 13,296 | ||||
Pass | 0 | |||||
Financing receivable, gross | 65,709 | 65,709 | ||||
Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 452 | 452 | ||||
Pass | 568 | 568 | ||||
Pass | 733 | 733 | ||||
Pass | 5,716 | 5,716 | ||||
Pass | 4,360 | 4,360 | ||||
Pass | 5,069 | 5,069 | ||||
Pass | 0 | |||||
Financing receivable, gross | 16,897 | 16,897 | ||||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Pass | 200 | |||||
Pass | 0 | |||||
Pass | 379 | |||||
Pass | 9,501 | |||||
Pass | 16,329 | |||||
Pass | 16,595 | |||||
Pass | 14,986 | |||||
Financing receivable, gross | 57,990 | |||||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 374 | 374 | ||||
Pass | 10,853 | 10,853 | ||||
Pass | 24,514 | 24,514 | ||||
Pass | 9,783 | 9,783 | ||||
Pass | 0 | |||||
Financing receivable, gross | 45,524 | 45,524 | ||||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 452 | 452 | ||||
Pass | 146 | 146 | ||||
Pass | 0 | 0 | ||||
Pass | 2,101 | 2,101 | ||||
Pass | 3,211 | 3,211 | ||||
Pass | 1,894 | 1,894 | ||||
Pass | 0 | |||||
Financing receivable, gross | 7,804 | 7,804 | ||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 1,198 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Financing receivable, gross | 1,198 | |||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 73 | |||||
Pass | 0 | |||||
Pass | 8,573 | |||||
Pass | 0 | |||||
Financing receivable, gross | 8,646 | |||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||||
Pass | 0 | |||||
Pass | 279 | |||||
Pass | 404 | |||||
Pass | 648 | |||||
Pass | 346 | |||||
Pass | 1,224 | |||||
Pass | 363 | |||||
Financing receivable, gross | 3,264 | |||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 130 | |||||
Pass | 4,569 | |||||
Pass | 7,612 | |||||
Pass | 0 | |||||
Financing receivable, gross | 12,311 | |||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 1,011 | 1,011 | ||||
Pass | 1 | 1 | ||||
Pass | 0 | |||||
Financing receivable, gross | 1,012 | 1,012 | ||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 3,498 | 3,498 | ||||
Pass | 3,074 | 3,074 | ||||
Pass | 0 | |||||
Financing receivable, gross | 6,572 | 6,572 | ||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 3 | 3 | ||||
Pass | 541 | 541 | ||||
Pass | 442 | 442 | ||||
Pass | 0 | |||||
Financing receivable, gross | 986 | 986 | ||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 236 | 236 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 11,380 | 11,380 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | |||||
Financing receivable, gross | 11,616 | 11,616 | ||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 2,332 | 2,332 | ||||
Pass | 0 | 0 | ||||
Pass | 3,175 | 3,175 | ||||
Pass | 0 | |||||
Financing receivable, gross | 5,507 | 5,507 | ||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 422 | 422 | ||||
Pass | 733 | 733 | ||||
Pass | 1,152 | 1,152 | ||||
Pass | 773 | 773 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | |||||
Financing receivable, gross | 3,080 | 3,080 | ||||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 130 | 130 | ||||
Pass | 376 | 376 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | |||||
Financing receivable, gross | 506 | 506 | ||||
Substandard [Member] | Consumer Portfolio Segment [Member] | ||||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Pass | 0 | |||||
Financing receivable, gross | 0 | |||||
Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | 0 | ||||
Pass | 0 | |||||
Financing receivable, gross | $ 0 | $ 0 | ||||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Pass | 698,923 | |||||
Pass | 506,385 | |||||
Pass | 224,576 | |||||
Pass | 155,836 | |||||
Pass | 95,376 | |||||
Pass | 152,386 | |||||
Pass | 1,311,835 | |||||
Financing receivable, gross | $ 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 | Jun. 30, 2023 | Dec. 31, 2022 | |
Financing receivable, gross | $ 11,604,894 | $ 11,687,968 | [1] |
Performing Financial Instruments [Member] | |||
Financing receivable, gross | 11,582,050 | 11,670,127 | |
Nonperforming Financial Instruments [Member] | |||
Financing receivable, gross | 22,844 | 17,841 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing receivable, gross | 2,986,453 | 3,145,317 | |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Financing receivable, gross | 2,978,515 | 3,138,014 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Financing receivable, gross | 7,938 | 7,303 | |
Real Estate Portfolio Segment[Member] | |||
Financing receivable, gross | 7,147,674 | 6,943,861 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Financing receivable, gross | 1,397,732 | 1,532,388 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Financing receivable, gross | 2,294,002 | 2,199,280 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Financing receivable, gross | 1,167,238 | 1,146,831 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Financing receivable, gross | 3,686,434 | 3,597,750 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | |||
Financing receivable, gross | 7,132,835 | 6,933,413 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | |||
Financing receivable, gross | 1,397,732 | 1,532,388 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Financing receivable, gross | 2,288,496 | 2,195,968 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | |||
Financing receivable, gross | 1,162,842 | 1,144,713 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | |||
Financing receivable, gross | 3,681,497 | 3,592,732 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | |||
Financing receivable, gross | 14,839 | 10,448 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | |||
Financing receivable, gross | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Financing receivable, gross | 5,506 | 3,312 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | |||
Financing receivable, gross | 4,396 | 2,118 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | |||
Financing receivable, gross | 4,937 | 5,018 | |
Consumer Portfolio Segment [Member] | |||
Financing receivable, gross | 73,035 | 66,402 | |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Financing receivable, gross | 72,968 | 66,312 | |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Financing receivable, gross | $ 67 | $ 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 | Jun. 30, 2023 | Dec. 31, 2022 | |
Financing receivable, gross | $ 11,604,894 | $ 11,687,968 | [1] |
Non-accrual | 16,897 | 12,450 | |
Nonaccrual With No ACL | 9,935 | 4,407 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing receivable, gross | 6,964 | 1,968 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing receivable, gross | 4,588 | 2,280 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing receivable, gross | 5,947 | 5,391 | |
Financial Asset, Past Due [Member] | |||
Financing receivable, gross | 17,499 | 9,639 | |
Financial Asset, Not Past Due [Member] | |||
Financing receivable, gross | 11,570,498 | 11,665,879 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing receivable, gross | 2,986,453 | 3,145,317 | |
Non-accrual | 7,796 | 7,108 | |
Nonaccrual With No ACL | 3,815 | 3,238 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing receivable, gross | 3,280 | 1,075 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing receivable, gross | 596 | 409 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing receivable, gross | 142 | 195 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Financing receivable, gross | 4,018 | 1,679 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Financing receivable, gross | 2,974,639 | 3,136,530 | |
Real Estate Portfolio Segment[Member] | |||
Financing receivable, gross | 7,147,674 | 6,943,861 | |
Non-accrual | 9,101 | 5,342 | |
Nonaccrual With No ACL | 6,120 | 548 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Financing receivable, gross | 1,397,732 | 1,532,388 | |
Non-accrual | 0 | 0 | |
Nonaccrual With No ACL | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Financing receivable, gross | 2,294,002 | 2,199,280 | |
Non-accrual | 5,506 | 3,312 | |
Nonaccrual With No ACL | 5,505 | 57 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Financing receivable, gross | 1,167,238 | 1,146,831 | |
Non-accrual | 3,089 | 1,524 | |
Nonaccrual With No ACL | 109 | 491 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Financing receivable, gross | 3,686,434 | 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] | |||
Financing receivable, gross | 3,635 | 719 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | |||
Financing receivable, gross | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Financing receivable, gross | 2,279 | 83 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One to Four Family [Member] | |||
Financing receivable, gross | 1,356 | 405 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other Mortgages [Member] | |||
Financing receivable, gross | 0 | 231 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing receivable, gross | 3,944 | 1,032 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | |||
Financing receivable, gross | 19 | 711 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Financing receivable, gross | 670 | 452 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One to Four Family [Member] | |||
Financing receivable, gross | 3,274 | 580 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other Mortgages [Member] | |||
Financing receivable, gross | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing receivable, gross | 5,738 | 5,106 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | |||
Financing receivable, gross | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Financing receivable, gross | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | One to Four Family [Member] | |||
Financing receivable, gross | 1,307 | 594 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Mortgages [Member] | |||
Financing receivable, gross | 4,431 | 4,512 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | |||
Financing receivable, gross | 13,317 | 6,857 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Construction Loans [Member] | |||
Financing receivable, gross | 19 | 711 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Owner Occupied Commercial [Member] | |||
Financing receivable, gross | 2,949 | 535 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | One to Four Family [Member] | |||
Financing receivable, gross | 5,937 | 1,579 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Other Mortgages [Member] | |||
Financing receivable, gross | 4,431 | 4,743 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | |||
Financing receivable, gross | 7,125,256 | 6,931,662 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Construction Loans [Member] | |||
Financing receivable, gross | 1,397,713 | 1,531,677 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Owner Occupied Commercial [Member] | |||
Financing receivable, gross | 2,285,547 | 2,195,433 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | One to Four Family [Member] | |||
Financing receivable, gross | 1,158,212 | 1,143,728 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Other Mortgages [Member] | |||
Financing receivable, gross | 3,681,497 | 3,592,501 | |
Consumer Portfolio Segment [Member] | |||
Financing receivable, gross | 73,035 | 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] | |||
Financing receivable, gross | 49 | 174 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing receivable, gross | 29 | 128 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing receivable, gross | 67 | 90 | |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Financing receivable, gross | 145 | 392 | |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Financing receivable, gross | $ 72,890 | $ 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 | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Balance | $ 148,965 | $ 119,463 | $ 146,297 | [1] | $ 116,660 |
Charge-offs | (4,600) | (1,813) | (6,273) | (4,489) | |
Recoveries | 1,253 | 1,230 | 1,396 | 1,347 | |
Provision for credit losses | 6,654 | 9,507 | 10,851 | 14,869 | |
Balance | 152,272 | 128,387 | 152,272 | 128,387 | |
Commercial Real Estate Portfolio Segment [Member] | |||||
Charge-offs | (5,615) | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial, Financial, and Agricultural Loans [Member] | |||||
Balance | 42,895 | 41,417 | 42,830 | 41,869 | |
Charge-offs | (4,336) | (1,666) | (5,593) | (4,240) | |
Recoveries | 1,232 | 1,217 | 1,360 | 1,322 | |
Provision for credit losses | 3,674 | 642 | 4,868 | 2,659 | |
Balance | 43,465 | 41,610 | 43,465 | 41,610 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Balance | 40,483 | 27,821 | 42,889 | 26,994 | |
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 3 | 0 | |
Provision for credit losses | (40) | 8,172 | (2,449) | 8,999 | |
Balance | 40,443 | 35,993 | 40,443 | 35,993 | |
Real Estate Portfolio Segment[Member] | Real Estate Loan [Member] | |||||
Balance | 63,157 | 48,548 | 58,652 | 45,829 | |
Charge-offs | (131) | (23) | (157) | (51) | |
Recoveries | 0 | 0 | 1 | 0 | |
Provision for credit losses | 3,211 | 268 | 7,740 | 3,014 | |
Balance | 66,237 | 48,793 | 66,237 | 48,793 | |
Consumer Portfolio Segment [Member] | |||||
Balance | 2,430 | 1,677 | 1,926 | 1,968 | |
Charge-offs | (133) | (124) | (501) | (199) | |
Recoveries | 21 | 13 | 32 | 25 | |
Provision for credit losses | (191) | 426 | 692 | 198 | |
Balance | $ 2,127 | $ 1,992 | $ 2,127 | $ 1,992 | |
[1]derived from audited financial statements. |
Note 5 - Loans - Summary of Col
Note 5 - Loans - Summary of Collateral Types (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Financing receivable, gross | $ 11,604,894 | $ 11,687,968 | [1] | ||||
Financing Receivable, Allowance for Credit Loss | 152,272 | $ 148,965 | 146,297 | [1] | $ 128,387 | $ 119,463 | $ 116,660 |
Commercial Real Estate Portfolio Segment [Member] | |||||||
Financing receivable, gross | 2,986,453 | 3,145,317 | |||||
Real Estate Portfolio Segment[Member] | |||||||
Financing receivable, gross | 7,147,674 | 6,943,861 | |||||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||||
Financing receivable, gross | 1,397,732 | 1,532,388 | |||||
Financing Receivable, Allowance for Credit Loss | 40,443 | 40,483 | 42,889 | 35,993 | 27,821 | 26,994 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||||
Financing receivable, gross | 2,294,002 | 2,199,280 | |||||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||||
Financing receivable, gross | 1,167,238 | 1,146,831 | |||||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||||
Financing receivable, gross | 3,686,434 | 3,597,750 | |||||
Consumer Portfolio Segment [Member] | |||||||
Financing receivable, gross | 73,035 | 66,402 | |||||
Financing Receivable, Allowance for Credit Loss | 2,127 | $ 2,430 | 1,926 | $ 1,992 | $ 1,677 | $ 1,968 | |
Real Estate [Member] | |||||||
Financing receivable, gross | 48,739 | 44,205 | |||||
Real Estate [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||||
Financing receivable, gross | 20,596 | 20,061 | |||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | |||||||
Financing receivable, gross | 28,143 | 24,144 | |||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||||
Financing receivable, gross | 0 | 0 | |||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||||
Financing receivable, gross | 12,034 | 8,573 | |||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||||
Financing receivable, gross | 11,259 | 3,260 | |||||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||||
Financing receivable, gross | 4,850 | 12,311 | |||||
Real Estate [Member] | Consumer Portfolio Segment [Member] | |||||||
Financing receivable, gross | 0 | 0 | |||||
Collateral, Accounts Receivable [Member] | |||||||
Financing receivable, gross | 7,944 | 12,092 | |||||
Collateral, Accounts Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||||
Financing receivable, gross | 7,944 | 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 | 830 | 837 | |||||
Equipment [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||||
Financing receivable, gross | 830 | 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 | 25,021 | 26,270 | |||||
Collateral, Other [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||||
Financing receivable, gross | 23,962 | 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 | 1,011 | ||||||
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 | 82,534 | 83,404 | |||||
Financing Receivable, Allowance for Credit Loss | 11,857 | 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 | 53,332 | 57,988 | |||||
Financing Receivable, Allowance for Credit Loss | 11,166 | 9,910 | |||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | |||||||
Financing receivable, gross | 28,191 | 24,218 | |||||
Financing Receivable, Allowance for Credit Loss | 689 | 470 | |||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||||
Financing receivable, gross | 1,011 | 1,198 | |||||
Financing Receivable, Allowance for Credit Loss | 2 | ||||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||||
Financing receivable, gross | 12,082 | 8,647 | |||||
Financing Receivable, Allowance for Credit Loss | 226 | 154 | |||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||||
Financing receivable, gross | 11,259 | 3,260 | |||||
Financing Receivable, Allowance for Credit Loss | 78 | 316 | |||||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||||
Financing receivable, gross | 4,850 | 12,311 | |||||
Financing Receivable, Allowance for Credit Loss | 385 | 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 | 6 Months Ended |
Jun. 30, 2023 | Jun. 30, 2023 | |
Percentage of total loans | 0.05% | 0.57% |
Extended Maturity [Member] | ||
Modified Amortized Cost | $ 5,462 | $ 65,423 |
Payment Deferral [Member] | ||
Modified Amortized Cost | 0 | 1,060 |
Extended Maturity and Payment Deferral [Member] | ||
Modified Amortized Cost | $ 5,462 | $ 66,483 |
Commercial Real Estate Portfolio Segment [Member] | ||
Percentage of total loans | 0.03% | 0.36% |
Total payment deferral | $ 0 | $ 0 |
Total payment deferral | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||
Modified Amortized Cost | 2,951 | 42,052 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||
Modified Amortized Cost | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity and Payment Deferral [Member] | ||
Modified Amortized Cost | $ 2,951 | $ 42,052 |
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member] | ||
Term extension (Year) | 9 years | 3 years |
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | ||
Term extension (Year) | 65 years | 65 years |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Percentage of total loans | 0% | |
Term extension (Year) | 6 years | |
Total payment deferral | $ 0 | $ 0 |
Total payment deferral | $ 0 | $ 0 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Percentage of total loans | 0.02% | 0.11% |
Total payment deferral | $ 0 | $ 49 |
Total payment deferral | 0 | $ 49 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Percentage of total loans | 0% | |
Term extension (Year) | 3 years | |
Total payment deferral | 0 | $ 0 |
Total payment deferral | 0 | $ 0 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Percentage of total loans | 0.10% | |
Total payment deferral | 0 | $ 59 |
Total payment deferral | 0 | 59 |
Real Estate Portfolio Segment[Member] | Extended Maturity [Member] | Construction Loans [Member] | ||
Modified Amortized Cost | 200 | |
Real Estate Portfolio Segment[Member] | Extended Maturity [Member] | Owner Occupied Commercial [Member] | ||
Modified Amortized Cost | 2,511 | 11,703 |
Real Estate Portfolio Segment[Member] | Extended Maturity [Member] | One to Four Family [Member] | ||
Modified Amortized Cost | 214 | |
Real Estate Portfolio Segment[Member] | Extended Maturity [Member] | Other Mortgages [Member] | ||
Modified Amortized Cost | 11,254 | |
Real Estate Portfolio Segment[Member] | Payment Deferral [Member] | Construction Loans [Member] | ||
Modified Amortized Cost | 0 | |
Real Estate Portfolio Segment[Member] | Payment Deferral [Member] | Owner Occupied Commercial [Member] | ||
Modified Amortized Cost | 0 | 701 |
Real Estate Portfolio Segment[Member] | Payment Deferral [Member] | One to Four Family [Member] | ||
Modified Amortized Cost | 0 | |
Real Estate Portfolio Segment[Member] | Payment Deferral [Member] | Other Mortgages [Member] | ||
Modified Amortized Cost | 359 | |
Real Estate Portfolio Segment[Member] | Extended Maturity and Payment Deferral [Member] | Construction Loans [Member] | ||
Modified Amortized Cost | 200 | |
Real Estate Portfolio Segment[Member] | Extended Maturity and Payment Deferral [Member] | Owner Occupied Commercial [Member] | ||
Modified Amortized Cost | $ 2,511 | 12,404 |
Real Estate Portfolio Segment[Member] | Extended Maturity and Payment Deferral [Member] | One to Four Family [Member] | ||
Modified Amortized Cost | 214 | |
Real Estate Portfolio Segment[Member] | Extended Maturity and Payment Deferral [Member] | Other Mortgages [Member] | ||
Modified Amortized Cost | $ 11,613 | |
Real Estate Portfolio Segment[Member] | Minimum [Member] | Owner Occupied Commercial [Member] | ||
Term extension (Year) | 9 years | 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) | 60 years | 60 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 | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 10 years | 10 years | |||
Operating Lease, Right-of-Use Asset | $ 19.4 | $ 19.4 | $ 18.8 | ||
Operating Lease, Liability | $ 20.3 | $ 20.3 | $ 19.6 | ||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 6 years 2 months 12 days | 6 years 2 months 12 days | |||
Operating Lease, Weighted Average Discount Rate, Percent | 3.02% | 3.02% | |||
Operating Lease, Payments | $ 1.3 | $ 1.1 | $ 2.5 | $ 2.1 |
Note 6 - Leases - Maturities of
Note 6 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
2023 (remaining) | $ 2,331 | |
2024 | 3,916 | |
2025 | 3,832 | |
2026 | 3,284 | |
2027 | 2,694 | |
thereafter | 6,096 | |
Total lease payments | 22,153 | |
Less: imputed interest | (1,871) | |
Present value of operating lease liabilities | 20,300 | $ 19,600 |
Other Liabilities [Member] | ||
Present value of operating lease liabilities | $ 20,282 |
Note 6 - Leases - Lease Costs (
Note 6 - Leases - Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Operating lease cost | $ 1,269 | $ 1,051 | $ 2,499 | $ 2,095 |
Short-term lease cost | 0 | 17 | 0 | 25 |
Variable lease cost | 192 | 151 | 383 | 300 |
Sublease income | (8) | (5) | (16) | (29) |
Net lease cost | $ 1,453 | $ 1,214 | $ 2,866 | $ 2,391 |
Note 7 - Employee and Directo_3
Note 7 - Employee and Director Benefits (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2014 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Share-Based Payment Arrangement, Expense | $ 982,000 | $ 797,000 | $ 1,800,000 | $ 1,600,000 | |
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 | 117,000 | $ 117,000 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month) | 8 months | ||||
Restricted Stock [Member] | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | 5,400,000 | $ 5,400,000 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month) | 2 years 2 months 12 days | ||||
Performance Shares [Member] | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 1,100,000 | $ 1,100,000 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month) | 1 year 7 months 6 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 | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 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 | $ 6,235 | $ 14,088 | $ 23,525 | |
Exercised, shares (in shares) | (87,700) | (48,000) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 12.04 | $ 17.85 | ||
Exercised, weighted average remaining contractual term (Year) | 1 year | 2 years 9 months 18 days | ||
Exercised, aggregate intrinsic value | $ 2,533 | $ 2,931 | ||
Forfeited, shares (in shares) | (1,000) | |||
Forfeited, weighted average exercise price (in dollars per share) | $ 34.09 | |||
Forfeited, weighted average remaining contractual term (Year) | 5 years 7 months 6 days | 3 years 4 months 24 days | ||
Forfeited, aggregate intrinsic value | $ 7 | $ 18,431 | ||
Outstanding, shares (in shares) | 191,300 | 305,250 | 280,000 | 353,250 |
Outstanding, weighted average exercise price (in dollars per share) | $ 22.65 | $ 19.51 | $ 19.43 | $ 19.28 |
Exercisable, shares (in shares) | 137,800 | 243,500 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 16.83 | $ 14.77 | ||
Exercisable, weighted average remaining contractual term (Year) | 1 year 10 months 24 days | 2 years 6 months | ||
Exercisable, aggregate intrinsic value | $ 3,432 | $ 15,924 |
Note 7 - Employee and Directo_5
Note 7 - Employee and Director Benefits - Summary of Restricted Stock and Performance Shares Activity (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 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) | 47,309 | 46,266 |
Granted, weighted average grant date fair value (in dollars per share) | $ 60.40 | $ 83.06 |
Vested, shares (in shares) | (29,852) | (23,507) |
Vested, weighted average grant date fair value (in dollars per share) | $ 52.27 | $ 44.85 |
Forfeited, shares (in shares) | (10,041) | (3,498) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 63.90 | $ 53.25 |
Non-vested, shares (in shares) | 148,996 | 146,863 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 57.98 | $ 54.45 |
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 | 9,165 |
Granted, weighted average grant date fair value (in dollars per share) | $ 70.29 | $ 69.68 |
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 | 21,602 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 58.25 | $ 50.89 |
Note 8 - Derivatives (Details T
Note 8 - Derivatives (Details Textual) - Interest Rate Cap [Member] $ in Billions | 1 Months Ended |
May 31, 2020 USD ($) | |
Derivative, Term of Contract (Year) | 3 years |
Derivative, Notional Amount | $ 0.3 |
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 ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||
Asset Impairment Charges | $ 4,100,000 | $ 1,200,000 | $ 6,300,000 | $ 1,800,000 | ||
Real Estate Owned, Amount of Loss at Acquisition | 5,000 | $ 125,000 | 5,000 | $ 119,000 | ||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure | 237,000 | $ 248,000 | ||||
Mortgage Loans in Process of Foreclosure, Amount | 181,000 | 181,000 | 0 | |||
Liabilities, Total | 13,709,337,000 | 13,709,337,000 | 13,297,857,000 | [1] | ||
Fair Value, Recurring [Member] | ||||||
Liabilities, Total | 0 | 0 | 0 | |||
Fair Value, Nonrecurring [Member] | ||||||
Liabilities, Total | $ 0 | $ 0 | $ 0 | |||
Minimum [Member] | ||||||
Impaired Loans, Fair Value Adjustment, Percent | 0% | 0% | 0% | |||
Real Estate Owned, Fair Value Adjustment, Percent | 24% | 24% | 0% | |||
Maximum [Member] | ||||||
Impaired Loans, Fair Value Adjustment, Percent | 85% | 85% | 82% | |||
Real Estate Owned, Fair Value Adjustment, Percent | 100% | 100% | 100% | |||
Weighted Average [Member] | ||||||
Impaired Loans, Fair Value Adjustment, Percent | 20.20% | 20.20% | 19.50% | |||
Real Estate Owned, Fair Value Adjustment, Percent | 30% | 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 | Jun. 30, 2023 | Dec. 31, 2022 | |
Available for sale, fair value | $ 990,921 | $ 644,815 | [1] |
US Treasury Securities [Member] | |||
Available for sale, fair value | 414,454 | 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 | 229,942 | 249,703 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 11,963 | 13,609 | |
Corporate Debt Securities [Member] | |||
Available for sale, fair value | 334,558 | 378,525 | |
Fair Value, Recurring [Member] | |||
Available for sale, fair value | 990,921 | 644,815 | |
Total assets at fair value | 990,921 | 649,016 | |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | |||
Interest rate cap derivative | 4,201 | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available for sale, fair value | 414,454 | 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 | 229,942 | 249,703 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 11,963 | 13,609 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | 334,558 | 378,525 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | |||
Available for sale, fair value | 414,454 | 2,969 | |
Total assets at fair value | 414,454 | 2,969 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member] | |||
Interest rate cap derivative | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available for sale, fair value | 414,454 | 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 | 569,607 | 630,986 | |
Total assets at fair value | 569,607 | 635,187 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Swap [Member] | |||
Interest rate cap derivative | 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 | 229,942 | 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 | 11,963 | 13,609 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | 327,698 | 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 | ||
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 | Jun. 30, 2023 | Dec. 31, 2022 |
Loans individually evaluated | $ 70,677 | $ 73,017 |
Other real estate owned and repossessed assets | 832 | 248 |
Total assets at fair value | 71,509 | 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 | 70,677 | 73,017 |
Other real estate owned and repossessed assets | 832 | 248 |
Total assets at fair value | $ 71,509 | $ 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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Fair value, beginning of period | $ 6,860 | $ 11,500 | $ 10,860 | $ 16,992 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Total realized gains included in income | 0 | 0 | 0 | 0 |
Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end | 0 | (462) | 160 | (805) |
Purchases | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | (5,038) | (4,160) | (10,187) |
Fair value, end of period | $ 6,860 | $ 6,000 | $ 6,860 | $ 6,000 |
Note 11 - Fair Value Measurem_7
Note 11 - Fair Value Measurement - Financial Assets and Liabilities Carried at Fair Value on Recurring Basis or Nonrecurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |
Cash and cash equivalents | $ 107,251 | $ 106,317 | [1] |
Held to maturity debt securities, fair value | 963,843 | 935,953 | |
Federal funds sold | 17,958 | 1,515 | [1] |
Mortgage loans held for sale | 3,981 | 1,607 | [1] |
Restricted equity securities | 7,307 | 7,734 | [1] |
Loans, net | 11,452,622 | 11,541,671 | [1] |
Federal funds purchased | 1,298,066 | 1,618,798 | [1] |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Cash and cash equivalents | 959,734 | 814,538 | |
Held to maturity debt securities, fair value | 557,084 | 507,601 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 959,734 | 814,538 | |
Held to maturity debt securities, fair value | 522,826 | 470,954 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 499,972 | 526,720 | |
Federal funds sold | 17,958 | 1,515 | |
Mortgage loans held for sale | 3,981 | 1,607 | |
Restricted equity securities | 7,307 | 7,734 | |
Deposits | 12,288,219 | 11,546,805 | |
Federal funds purchased | 1,298,066 | 1,618,798 | |
Other borrowings | 64,737 | 64,726 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 440,767 | 464,749 | |
Federal funds sold | 17,958 | 1,515 | |
Mortgage loans held for sale | 3,943 | 1,604 | |
Restricted equity securities | 7,307 | 7,734 | |
Deposits | 12,272,714 | 11,529,647 | |
Federal funds purchased | 1,298,066 | 1,618,798 | |
Other borrowings | 57,583 | 57,101 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 250 | 250 | |
Loans, net | 11,452,622 | 11,541,671 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 250 | 250 | |
Loans, net | $ 11,021,748 | $ 11,265,517 | |
[1]derived from audited financial statements. |