Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | Apr. 29, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001430723 | |
Entity Registrant Name | ServisFirst Bancshares, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
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 $.001 per share | |
Trading Symbol | SFBS | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 54,509,296 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
ASSETS | |||
Cash and due from banks | $ 78,708 | $ 123,430 | [1] |
Interest-bearing balances due from depository institutions | 1,201,566 | 1,907,083 | [1] |
Federal funds sold | 170,625 | 100,575 | [1] |
Cash and cash equivalents | 1,450,899 | 2,131,088 | [1] |
Available-for-sale debt securities, at fair value | 1,073,929 | 900,183 | [1] |
Held-to-maturity debt securities (fair value of $785,270 and $907,191, respectively) | 867,696 | 982,664 | [1] |
Restricted equity securities | 11,300 | 10,226 | [1] |
Mortgage loans held for sale | 7,592 | 5,074 | [1] |
Loans | 11,880,696 | 11,658,829 | [1] |
Less allowance for credit losses | (155,892) | (153,317) | [1] |
Net Loans | 11,724,804 | 11,505,512 | [1] |
Premises and equipment, net | 59,302 | 59,324 | [1] |
Accrued interest and dividends receivable | 61,407 | 59,181 | [1] |
Deferred tax asset, net | 60,292 | 62,918 | [1] |
Other real estate owned and repossessed assets | 490 | 995 | [1] |
Bank owned life insurance contracts | 294,786 | 292,759 | [1] |
Goodwill | 13,615 | 13,615 | |
Other assets | 95,518 | 106,129 | [1] |
Total assets | 15,721,630 | 16,129,668 | [1] |
Liabilities: | |||
Non-interest-bearing demand | 2,627,639 | 2,643,101 | |
Interest-bearing | 10,123,809 | 10,630,410 | [1] |
Total deposits | 12,751,448 | 13,273,511 | [1] |
Federal funds purchased | 1,345,328 | 1,256,724 | [1] |
Other borrowings | 64,737 | 64,735 | [1] |
Accrued interest and dividends payable | 26,822 | 27,545 | |
Other liabilities | 57,259 | 66,748 | [1] |
Total liabilities | 14,245,594 | 14,689,263 | [1] |
Stockholders' equity: | |||
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at March 31, 2024 and December 31, 2023 | 0 | 0 | [1] |
Common stock, par value $0.001 per share; 200,000,000 shares authorized: 54,507,778 shares issued and outstanding at March 31, 2024; and 54,461,580 shares issued and outstanding at December 31, 2023 | 54 | 54 | [1] |
Additional paid-in capital | 233,560 | 232,605 | [1] |
Retained earnings | 1,288,514 | 1,254,841 | [1] |
Accumulated other comprehensive loss | (46,592) | (47,595) | |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 1,475,536 | 1,439,905 | [1] |
Noncontrolling interest | 500 | 500 | [1] |
Total stockholders' equity | 1,476,036 | 1,440,405 | [1] |
Total liabilities and stockholders' equity | $ 15,721,630 | $ 16,129,668 | [1] |
[1]derived from audited financial statements. |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Held to maturity debt securities, fair value | $ 785,270 | $ 907,191 | |
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) | 54,507,778 | 54,461,580 | [1] |
Common stock, shares outstanding (in shares) | 54,507,778 | 54,461,580 | [1] |
[1]derived from audited financial statements. |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Interest income: | ||
Interest and fees on loans | $ 186,978 | $ 163,732 |
Taxable securities | 15,979 | 10,895 |
Nontaxable securities | 9 | 21 |
Federal funds sold | 541 | 614 |
Other interest and dividends | 23,203 | 6,060 |
Total interest income | 226,710 | 181,322 |
Interest expense: | ||
Deposits | 104,066 | 55,713 |
Borrowed funds | 20,149 | 17,308 |
Total interest expense | 124,215 | 73,021 |
Net interest income | 102,495 | 108,301 |
Provision for credit losses | 4,368 | 4,197 |
Net interest income after provision for credit losses | 98,127 | 104,104 |
Noninterest income | ||
Bank-owned life insurance income | 3,231 | 1,621 |
Other operating income | 599 | 635 |
Total noninterest income | 8,813 | 6,321 |
Noninterest expense: | ||
Salaries and employee benefits | 22,986 | 19,066 |
Equipment and occupancy | 3,557 | 3,435 |
Third party processing and other services | 7,166 | 7,284 |
Professional services | 1,464 | 1,654 |
FDIC and other regulatory assessments | 3,905 | 1,517 |
Other real estate owned | 30 | 6 |
Other operating expense | 7,195 | 6,702 |
Total noninterest expense | 46,303 | 39,664 |
Income before income taxes | 60,637 | 70,761 |
Provision for income taxes | 10,611 | 12,790 |
Net income | 50,026 | 57,971 |
Dividends on preferred stock | 0 | 0 |
Net income available to common stockholders | $ 50,026 | $ 57,971 |
Basic earnings per common share (in dollars per share) | $ 0.92 | $ 1.07 |
Diluted earnings per common share (in dollars per share) | $ 0.92 | $ 1.06 |
Deposit Account [Member] | ||
Noninterest income | ||
Noninterest income | $ 2,150 | $ 1,934 |
Mortgage Banking [Member] | ||
Noninterest income | ||
Noninterest income | 678 | 442 |
Credit Card [Member] | ||
Noninterest income | ||
Noninterest income | $ 2,155 | $ 1,689 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net income | $ 50,026 | $ 57,971 |
Other comprehensive income (loss), net of tax | ||
Unrealized net holding gains (losses) arising during period from securities available-for-sale, net of $2,373 and $(221) for the three months ended March 31, 2024 and 2023, respectively | 1,138 | (667) |
Amortization of net unrealized gains on securities transferred from available-for-sale to held-to-maturity, net of tax of $(37) and $(46) for the three months ended March 31, 2024 and 2023, respectively | (135) | (129) |
Other comprehensive income (loss), net of tax | 1,003 | (796) |
Comprehensive income | $ 51,029 | $ 57,175 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Unrealized holding gain (loss) from available for sale securities, tax | $ 2,373 | $ (221) |
Amortization of net unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity, tax | $ (37) | $ (46) |
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, 2022 | 54,326,527 | |||||||
Balance at Dec. 31, 2022 | $ 54 | $ 0 | $ 229,693 | $ 1,109,902 | $ (42,253) | $ 500 | $ 1,297,896 | |
Common dividends declared | 0 | 0 | 0 | (15,233) | 0 | 0 | (15,233) | |
Dividends on nonvested restricted stock recognized as compensation expense | $ 0 | 0 | 0 | 41 | 0 | 0 | 41 | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 20,713 | |||||||
Issue restricted shares pursuant to stock incentives, net of forfeitures | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Issue shares of common stock upon exercise of stock options (in shares) | 50,785 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 846 | 0 | 0 | 0 | 846 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (1,716) | 0 | 0 | 0 | (1,716) | |
Stock-based compensation expense | 0 | 0 | 808 | 0 | 0 | 0 | 808 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | (796) | 0 | (796) | |
Net income | $ 0 | 0 | 0 | 57,971 | 0 | 57,971 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 57,971 | |||||||
Balance (in shares) at Mar. 31, 2023 | 54,398,025 | |||||||
Balance at Mar. 31, 2023 | $ 54 | 0 | 229,631 | 1,152,681 | (43,049) | 500 | 1,339,817 | |
Balance (in shares) at Dec. 31, 2023 | 54,461,580 | |||||||
Balance at Dec. 31, 2023 | $ 54 | 0 | 232,605 | 1,254,841 | (47,595) | 500 | 1,440,405 | [1] |
Common dividends declared | $ 0 | 0 | 0 | (16,353) | 0 | 0 | (16,353) | |
Issue restricted shares pursuant to stock incentives, net of forfeitures (in shares) | 39,912 | |||||||
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) | 6,286 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 130 | 0 | 0 | 0 | 130 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (133) | 0 | 0 | 0 | (133) | |
Stock-based compensation expense | 0 | 0 | 958 | 0 | 0 | 0 | 958 | |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 | 1,003 | 0 | 1,003 | |
Net income | $ 0 | 0 | 0 | 50,026 | 0 | 50,026 | ||
Net income attributable to noncontrolling interest | 0 | |||||||
Profit loss | 50,026 | |||||||
Balance (in shares) at Mar. 31, 2024 | 54,507,778 | |||||||
Balance at Mar. 31, 2024 | $ 54 | $ 0 | $ 233,560 | $ 1,288,514 | $ (46,592) | $ 500 | $ 1,476,036 | |
[1]derived from audited financial statements. |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Common dividends, per share declared (in dollars per share) | $ 0.3 | $ 0.28 |
Shares withheld in net settlement upon exercise of stock options (in shares) | 2,014 | 24,215 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
OPERATING ACTIVITIES | ||
Net income | $ 50,026 | $ 57,971 |
Adjustments to reconcile net income to net cash provided by operations | ||
Deferred benefit tax | 2,626 | 49 |
Provision for credit losses | 4,368 | 4,197 |
Depreciation | 1,099 | 1,071 |
Accretion on acquired loans | 49 | 49 |
Amortization of investments in tax credit partnerships | 2,837 | 3,345 |
Net (accretion) amortization of debt securities available-for-sale | (197) | 128 |
Increase in accrued interest and dividends receivable | (2,226) | (2,078) |
Stock-based compensation expense | 958 | 808 |
(Decrease) Increase in accrued interest and dividends payable | (723) | 1,926 |
Proceeds from sale of mortgage loans held for sale | 37,635 | 16,320 |
Originations of mortgage loans held for sale | (39,475) | (15,922) |
Gain on sale of mortgage loans held for sale | (678) | (442) |
Net gain on sale of other real estate owned and repossessed assets | (95) | 0 |
Increase in cash surrender value of life insurance contracts | (3,231) | (1,621) |
Net change in other assets, liabilities, and other operating activities | 500 | (10,652) |
Net cash provided by operating activities | 53,473 | 55,149 |
INVESTMENT ACTIVITIES | ||
Purchases of debt securities available-for-sale | (198,269) | 0 |
Proceeds from maturities, calls and paydowns of debt securities available-for-sale | 24,724 | 18,853 |
Purchases of debt securities held-to-maturity | (9,936) | 0 |
Proceeds from maturities, calls and paydowns of debt securities held-to-maturity | 124,904 | 11,960 |
Purchases of restricted equity securities | (1,074) | (12,750) |
Proceeds from sale of restricted equity securities | 0 | 13,177 |
Investment in tax credit partnerships and SBIC | (25) | (538) |
(Increase) decrease in loans | (223,799) | 56,588 |
Purchases of premises and equipment | (1,077) | (1,314) |
Proceeds from sale of other real estate owned and repossessed assets | 690 | 0 |
Net cash (used in) provided by investing activities | (283,862) | 85,976 |
FINANCING ACTIVITIES | ||
Net decrease in non-interest-bearing deposits | (15,462) | (422,611) |
Net (decrease) increase in interest-bearing deposits | (506,601) | 491,123 |
Net increase (decrease) in federal funds purchased | 88,604 | (138,638) |
FHLB advances | 0 | 300,000 |
Repayment of FHLB advances | 0 | (300,000) |
Proceeds from exercise of stock options | 130 | 846 |
Taxes paid in net settlement of tax obligation upon exercise of stock options | (133) | (1,716) |
Dividends paid on common stock | (16,338) | (15,211) |
Net cash used in financing activities | (449,800) | (86,207) |
Net (decrease) increase in cash and cash equivalents | (680,189) | 54,918 |
Cash and cash equivalents at beginning of period | 2,131,088 | 816,053 |
Cash and cash equivalents at end of period | 1,450,899 | 870,971 |
Cash paid for: | ||
Interest | 124,938 | 71,095 |
Income taxes | 6,977 | 1,920 |
NONCASH TRANSACTIONS | ||
Other real estate acquired in settlement of loans | 90 | 1,046 |
Dividends on nonvested restricted stock reclassified as compensation expense | 0 | 41 |
Dividends declared | $ 16,353 | $ 15,233 |
Note 1 - General
Note 1 - General | 3 Months Ended |
Mar. 31, 2024 | |
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, 2023. |
Note 2 - Cash and Cash Equivale
Note 2 - Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 2 Cash on hand, cash items in process of collection, amounts due from banks, and federal funds sold are included in cash and cash equivalents. |
Note 3 - Earnings Per Common Sh
Note 3 - Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3 Basic earnings per common share are computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options. The difference in earnings per share under the two not three March 31, 2024 2023. Three Months Ended March 31, 2024 2023 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 54,491,019 54,360,253 Net income available to common stockholders $ 50,026 $ 57,971 Basic earnings per common share $ 0.92 $ 1.07 Weighted average common shares outstanding 54,491,019 54,360,253 Dilutive effects of assumed conversions and exercise of stock options and warrants 104,365 174,229 Weighted average common and dilutive potential common shares outstanding 54,595,384 54,542,899 Net income available to common stockholders $ 50,026 $ 57,971 Diluted earnings per common share $ 0.92 $ 1.06 |
Note 4 - Securities
Note 4 - Securities | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4 The amortized cost and fair value of available-for-sale and held-to-maturity securities at March 31, 2024 December 31, 2023 Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value March 31, 2024 (In Thousands) Debt Securities Available-for-Sale U.S. Treasury Securities $ 494,156 $ 10 $ (197 ) $ 493,969 Mortgage-backed securities 281,343 249 (26,677 ) 254,915 State and municipal securities 11,142 1 (1,186 ) 9,958 Corporate debt 352,684 60 (37,657 ) 315,086 Total $ 1,139,325 $ 320 $ (65,716 ) $ 1,073,929 Debt Securities Held-to-Maturity U.S. Treasury Securities $ 393,932 $ - $ (25,065 ) $ 368,868 Mortgage-backed securities 465,695 5 (56,634 ) 409,066 State and municipal securities 8,069 - (733 ) 7,336 Total $ 867,696 $ 5 $ (82,431 ) $ 785,270 December 31, 2023 Debt Securities Available-for-Sale U.S. Treasury Securities $ 340,556 $ 251 $ - $ 340,807 Mortgage-backed securities 241,458 6 (25,979 ) 215,485 State and municipal securities 11,400 1 (1,178 ) 10,223 Corporate debt 375,676 - (42,009 ) 333,667 Total $ 969,090 $ 258 $ (69,166 ) $ 900,183 Debt Securities Held-to-Maturity U.S. Treasury Securities $ 508,985 $ - $ (24,718 ) $ 484,267 Mortgage-backed securities 465,615 3 (50,025 ) 415,593 State and municipal securities 8,063 - (732 ) 7,331 Total $ 982,664 $ 3 $ (75,475 ) $ 907,191 The amortized cost and fair value of debt securities as of March 31, 2024 December 31, 2023 may may not March 31, 2024 December 31, 2023 Amortized Cost Market Value Amortized Cost Market Value (In Thousands) Debt securities available-for-sale Due within one year $ 430,857 $ 430,760 $ 350,400 $ 350,396 Due from one to five years 132,967 129,779 70,016 67,334 Due from five to ten years 291,157 256,407 304,216 264,893 Due after ten years 3,000 2,068 3,000 2,076 Mortgage-backed securities 281,343 254,915 241,458 215,485 $ 1,139,325 $ 1,073,929 $ 969,090 $ 900,183 Debt securities held-to-maturity Due within one year $ 144,940 $ 144,283 $ 260,047 $ 257,835 Due from one to five years 253,772 229,043 203,481 185,741 Due from five to ten years 3,289 2,878 53,521 48,022 Mortgage-backed securities 465,695 409,066 465,615 415,593 $ 867,696 $ 785,270 $ 982,664 $ 907,191 All mortgage-backed securities are with government-sponsored enterprises (GSEs) such as Federal National Mortgage Association, Government National Mortgage Association, Federal Home Loan Bank, and Federal Home Loan Mortgage Corporation. Restricted equity securities are comprised entirely of restricted investment in Federal Home Loan Bank stock for membership requirements. The carrying value of investment securities pledged to secure public funds on deposit and for other purposes as required by law was $1.48 billion and $1.49 billion as of March 31, 2024 December 31, 2023, The following table identifies, as of March 31, 2024 December 31, 2023, 12 12 Less Than Twelve Months Twelve Months or More Total Gross Gross Gross Unrealized Unrealized Unrealized Losses Fair Value Losses Fair Value Losses Fair Value (In Thousands) March 31, 2024 Debt Securities available-for-sale U.S. Treasury Securities $ (197 ) $ 479,762 $ - $ - $ (197 ) $ 479,762 Government Agency Securities - - - - - - Mortgage-backed securities (2 ) 161 (26,674 ) 205,195 (26,677 ) 205,356 State and municipal securities - - (1,186 ) 9,512 (1,186 ) 9,512 Corporate debt (2,392 ) 11,108 (35,265 ) 294,003 (37,657 ) 305,111 Total $ (2,591 ) $ 491,031 $ (63,125 ) $ 508,710 $ (65,716 ) $ 999,741 Debt Securities held-to-maturity U.S. Treasury Securities $ - $ - $ (25,065 ) $ 368,868 $ (25,065 ) $ 368,868 Mortgage-backed securities (162 ) 9,895 (56,471 ) 393,887 (56,634 ) 405,323 State and municipal securities - - (733 ) 7,086 (733 ) 7,086 Total $ (162 ) $ 9,895 $ (82,269 ) $ 771,382 $ (82,431 ) $ 779,735 December 31, 2023 Debt Securities available-for-sale Mortgage-backed securities $ (6 ) $ 704 $ (25,973 ) $ 214,393 $ (25,979 ) $ 215,097 State and municipal securities - - (1,178 ) 9,777 (1,178 ) 9,777 Corporate debt (794 ) 15,141 (41,214 ) 311,666 (42,009 ) 326,807 Total $ (801 ) $ 15,845 $ (68,365 ) $ 535,836 $ (69,166 ) $ 551,681 Debt Securities held-to-maturity U.S. Treasury Securities $ - $ - $ (24,718 ) $ 484,267 $ (24,718 ) $ 484,267 Mortgage-backed securities (1 ) 430 (50,024 ) 411,585 (50,025 ) 412,015 State and municipal securities - - (732 ) 7,081 (732 ) 7,081 Total $ (1 ) $ 430 $ (75,474 ) $ 902,933 $ (75,475 ) $ 903,363 At March 31, 2024 2023, not not not not may not not March 31, 2024 2023, no zero not March 31, 2024 2023. March 31, 2024 not |
Note 5 - Loans
Note 5 - Loans | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 LOANS The loan portfolio is classified based on the underlying collateral utilized to secure each loan for financial reporting purposes. This classification is consistent with the Quarterly Report of Condition and Income filed by ServisFirst Bank with the Federal Deposit Insurance Corporation (FDIC). Commercial, financial and agricultural - Real estate construction Owner-occupied commercial real estate mortgage 1 4 Other real estate mortgage Consumer not The following table details the Company’s loans at March 31, 2024 December 31, 2023: March 31, December 31, 2024 2023 (Dollars In Thousands) Commercial, financial and agricultural $ 2,834,102 $ 2,823,986 Real estate - construction 1,546,716 1,519,619 Real estate - mortgage: Owner-occupied commercial 2,377,042 2,257,163 1-4 family mortgage 1,284,888 1,249,938 Other mortgage 3,777,758 3,744,346 Subtotal: Real estate - mortgage 7,439,688 7,251,447 Consumer 60,190 63,777 Total Loans 11,880,696 11,658,829 Less: Allowance for credit losses (155,892 ) (153,317 ) Net Loans $ 11,724,804 $ 11,505,512 Commercial, financial and agricultural 23.85 % 24.22 % Real estate - construction 13.02 % 13.03 % Real estate - mortgage: Owner-occupied commercial 20.01 % 19.36 % 1-4 family mortgage 10.81 % 10.72 % Other mortgage 31.80 % 32.12 % Subtotal: Real estate - mortgage 62.62 % 62.20 % Consumer 0.51 % 0.55 % Total Loans 100.00 % 100.00 % The credit quality of the loan portfolio is summarized no ● Pass – loans which are well protected by the current net worth and paying capacity of the obligor (or obligors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral. ● Special Mention – loans with potential weakness that may, not not not ● Substandard – loans that exhibit well-defined weakness or weaknesses that presently jeopardize debt repayment. These loans are characterized by the distinct possibility that the institution will sustain some loss if the weaknesses are not ● Doubtful – loans that have all the weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. The table below presents loan balances classified by credit quality indicator, loan type and based on year of origination as of March 31, 2024: March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Revolving lines of credit converted to term loans Total (In Thousands) Commercial, financial and agricultural Pass $ 107,544 $ 316,897 $ 437,779 $ 344,676 $ 149,733 $ 234,363 $ 1,141,682 $ 430 $ 2,733,104 Special Mention 737 403 1,769 4,277 4,692 6,419 26,880 2 45,179 Substandard - accruing 501 1,364 - 385 427 27,406 5,176 - 35,259 Substandard -Non-accrual - 3,575 226 2,385 206 11,786 2,382 - 20,560 Total Commercial, financial and agricultural $ 108,782 $ 322,239 $ 439,774 $ 351,723 $ 155,058 $ 279,974 $ 1,176,120 $ 432 $ 2,834,102 Current-period gross write-offs $ - $ - $ - $ - $ - $ 1,106 $ 736 $ - $ 1,842 Real estate - construction Pass $ 48,543 $ 254,568 $ 847,543 $ 252,588 $ 50,092 $ 20,705 $ 68,975 $ - $ 1,543,014 Special Mention - 590 - - - - - - 590 Substandard - accruing - - 1,997 - - 973 - - 2,970 Substandard -Non-accrual - - 34 - - - - 108 142 Total Real estate - construction $ 48,543 $ 255,158 $ 849,574 $ 252,588 $ 50,092 $ 21,678 $ 68,975 $ 108 $ 1,546,716 Owner-occupied commercial Pass $ 80,143 $ 171,911 $ 517,845 $ 528,261 $ 290,718 $ 669,803 $ 58,928 $ 834 $ 2,318,443 Special Mention - 5,359 8,785 792 8,279 15,957 - - 39,172 Substandard - accruing - 1,333 - 6,847 - 2,506 - - 10,686 Substandard -Non-accrual - - - - - 8,741 - - 8,741 Total Owner-occupied commercial $ 80,143 $ 178,603 $ 526,630 $ 535,900 $ 298,997 $ 697,007 $ 58,928 $ 834 $ 2,377,042 1-4 family mortgage Pass $ 61,318 $ 155,581 $ 369,024 $ 220,533 $ 77,073 $ 97,362 $ 289,012 $ - $ 1,269,903 Special Mention - 709 428 2,269 764 4,862 905 - 9,937 Substandard - accruing - - - - - 424 117 - 541 Substandard -Non-accrual - 156 433 1,000 643 1,475 800 - 4,507 Total 1-4 family mortgage $ 61,318 $ 156,446 $ 369,885 $ 223,802 $ 78,480 $ 104,123 $ 290,834 $ - $ 1,284,888 Current-period gross write-offs $ - $ - $ - $ 62 $ - $ - $ 5 $ - $ 67 Other mortgage Pass $ 82,631 $ 156,951 $ 1,129,986 $ 1,090,507 $ 429,593 $ 774,646 $ 91,073 $ 247 $ 3,755,634 Special Mention - - 5,034 - - 751 - - 5,785 Substandard - accruing - - 4,958 660 - 10,215 - - 15,833 Substandard -Non-accrual - - - - - 506 - - 506 Total Other mortgage $ 82,631 $ 156,951 $ 1,139,978 $ 1,091,167 $ 429,593 $ 786,118 $ 91,073 $ 247 $ 3,777,758 Consumer Pass $ 1,102 $ 21,705 $ 3,467 $ 4,377 $ 1,662 $ 3,849 $ 24,028 $ - $ 60,190 Special Mention - - - - - - - - - Substandard - accruing - - - - - - - - - Total Consumer $ 1,102 $ 21,705 $ 3,467 $ 4,377 $ 1,662 $ 3,849 $ 24,028 $ - $ 60,190 Current-period gross write-offs $ - $ 8 $ - $ - $ - $ - $ 90 $ - $ 98 Total Loans Pass $ 381,281 $ 1,077,613 $ 3,305,644 $ 2,440,942 $ 998,871 $ 1,800,728 $ 1,673,698 $ 1,511 $ 11,680,288 Special Mention 737 7,061 16,016 7,338 13,735 27,989 27,785 2 100,663 Substandard - accruing 501 2,697 6,955 7,892 427 41,524 5,293 - 65,289 Substandard -Non-accrual - 3,731 693 3,385 849 22,508 3,182 108 34,456 Total Loans $ 382,519 $ 1,091,102 $ 3,329,308 $ 2,459,557 $ 1,013,882 $ 1,892,749 $ 1,709,958 $ 1,621 $ 11,880,696 Current-period gross write-offs $ - $ 8 $ - $ 62 $ - $ 1,106 $ 831 $ - $ 2,007 Loans by credit quality indicator, loan type and based on year of origination as of December 31, 2023 December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Revolving lines of credit converted to term loans Total (In Thousands) Commercial, financial and agricultural Pass $ 341,335 $ 455,281 $ 354,034 $ 162,543 $ 100,032 $ 151,527 $ 1,161,324 $ 491 $ 2,726,567 Special Mention 4,275 1,982 5,105 5,765 1,320 3,549 21,769 7 43,772 Substandard - accruing 1,410 - 2,830 368 9,501 27,962 4,360 - 46,431 Substandard -Non-accrual - 2 767 206 - 3,336 2,905 - 7,216 Total Commercial, financial and agricultural $ 347,020 $ 457,265 $ 362,736 $ 168,882 $ 110,853 $ 186,374 $ 1,190,358 $ 498 $ 2,823,986 Current-period gross write-offs $ 1,213 $ 4,690 $ 2,531 $ 779 $ 4 $ 2,014 $ 1,998 $ - $ 13,229 Real estate - construction Pass $ 216,745 $ 874,903 $ 283,012 $ 49,668 $ 4,866 $ 16,558 $ 72,156 $ - $ 1,517,908 Special Mention 589 - - - - - - - 589 Substandard - accruing - 33 - - - 978 - - 1,011 Substandard -Non-accrual - - - - - - - 111 111 Total Real estate - construction $ 217,334 $ 874,936 $ 283,012 $ 49,668 $ 4,866 $ 17,536 $ 72,156 $ 111 $ 1,519,619 Current-period gross write-offs $ - $ - $ 19 $ - $ - $ - $ - $ 89 $ 108 Owner-occupied commercial Pass $ 148,915 $ 478,364 $ 517,667 $ 300,978 $ 181,864 $ 512,752 $ 64,170 $ 844 $ 2,205,554 Special Mention 5,369 1,411 7,705 8,317 8,530 7,539 - - 38,871 Substandard - accruing 1,358 - - - - 4,292 - - 5,650 Substandard -Non-accrual - - - - 2,329 4,759 - - 7,088 Total Owner-occupied commercial $ 155,642 $ 479,775 $ 525,372 $ 309,295 $ 192,723 $ 529,342 $ 64,170 $ 844 $ 2,257,163 Current-period gross write-offs $ - $ - $ - $ - $ 117 $ - $ - $ - $ 117 1-4 family mortgage Pass $ 166,927 $ 376,964 $ 228,183 $ 75,104 $ 40,697 $ 61,046 $ 286,066 $ - $ 1,234,987 Special Mention 574 721 2,504 1,009 3,865 439 727 - 9,839 Substandard - accruing - - - - - 425 261 - 686 Substandard -Non-accrual 155 380 741 572 877 901 800 - 4,426 Total 1-4 family mortgage $ 167,656 $ 378,065 $ 231,428 $ 76,685 $ 45,439 $ 62,811 $ 287,854 $ - $ 1,249,938 Current-period gross write-offs $ - $ 40 $ - $ - $ - $ 14 $ - $ - $ 54 Other mortgage Pass $ 162,418 $ 1,119,609 $ 1,106,055 $ 448,781 $ 249,059 $ 540,325 $ 100,516 $ 247 $ 3,727,010 Special Mention - - - - - - 850 - 850 Substandard - accruing - 4,975 - - - 11,005 - - 15,980 Substandard -Non-accrual - - - - 130 376 - - 506 Total Other mortgage $ 162,418 $ 1,124,584 $ 1,106,055 $ 448,781 $ 249,189 $ 551,706 $ 101,366 $ 247 $ 3,744,346 Current-period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer Pass $ 22,227 $ 3,890 $ 4,542 $ 1,794 $ 1,295 $ 2,687 $ 27,342 $ - $ 63,777 Special Mention - - - - - - - - - Substandard - accruing - - - - - - - - - Substandard -Non-accrual - - - - - - - - - Total Consumer $ 22,227 $ 3,890 $ 4,542 $ 1,794 $ 1,295 $ 2,687 $ 27,342 $ - $ 63,777 Current-period gross write-offs $ - $ - $ - $ - $ 4 $ 49 $ 1,020 $ - $ 1,073 Total Loans Pass $ 1,058,567 $ 3,309,011 $ 2,493,493 $ 1,038,868 $ 577,813 $ 1,284,895 $ 1,711,574 $ 1,582 $ 11,475,803 Special Mention 10,807 4,114 15,314 15,091 13,715 11,527 23,346 7 93,921 Substandard - accruing 2,768 5,008 2,830 368 9,501 44,662 4,621 - 69,758 Substandard -Non-accrual 155 382 1,508 778 3,336 9,372 3,705 111 19,347 Total Loans $ 1,072,297 $ 3,318,515 $ 2,513,145 $ 1,055,105 $ 604,365 $ 1,350,456 $ 1,743,246 $ 1,700 $ 11,658,829 Current-period gross write-offs $ 1,213 $ 4,730 $ 2,550 $ 779 $ 125 $ 2,077 $ 3,018 $ 89 $ 14,581 Loans by performance status as of March 31, 2024 December 31, 2023 March 31, 2024 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,813,190 $ 20,912 $ 2,834,102 Real estate - construction 1,546,574 142 1,546,716 Real estate - mortgage: Owner-occupied commercial 2,368,301 8,741 2,377,042 1-4 family mortgage 1,280,381 4,507 1,284,888 Other mortgage 3,777,252 506 3,777,758 Total real estate - mortgage 7,425,934 13,754 7,439,688 Consumer 60,161 29 60,190 Total $ 11,845,859 $ 34,837 $ 11,880,696 December 31, 2023 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,816,599 $ 7,387 $ 2,823,986 Real estate - construction 1,519,508 111 1,519,619 Real estate - mortgage: Owner-occupied commercial 2,250,074 7,089 2,257,163 1-4 family mortgage 1,243,603 6,335 1,249,938 Other mortgage 3,743,840 506 3,744,346 Total real estate - mortgage 7,237,517 13,930 7,251,447 Consumer 63,672 105 63,777 Total $ 11,637,296 $ 21,533 $ 11,658,829 Loans by past due status as of March 31, 2024 December 31, 2023 March 31, 2024 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 $ 9,962 $ 444 $ 351 $ 10,757 $ 20,561 $ 2,802,784 $ 2,834,102 $ 4,479 Real estate - construction - - - - 142 1,546,574 1,546,716 142 Real estate - mortgage: Owner-occupied commercial 1,241 103 - 1,344 8,741 2,366,957 2,377,042 6,939 1-4 family mortgage 3,623 951 - 4,574 4,507 1,275,807 1,284,888 1,199 Other mortgage - - - - 506 3,777,252 3,777,758 506 Total real estate - mortgage 4,864 1,054 - 5,918 13,754 7,420,016 7,439,688 8,644 Consumer 115 74 29 218 - 59,972 60,190 - Total $ 14,941 $ 1,572 $ 380 $ 16,893 $ 34,457 $ 11,829,346 $ 11,880,696 $ 13,265 December 31, 2023 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With No ACL (In Thousands) Commercial, financial and agricultural $ 3,418 $ 3,718 $ 170 $ 7,306 $ 7,217 $ 2,809,463 2,823,986 $ 5,028 Real estate - construction - 34 - 34 111 1,519,474 1,519,619 - Real estate - mortgage: Owner-occupied commercial - - - - 7,089 2,250,074 2,257,163 7,089 1-4 family mortgage 540 4,920 1,909 7,369 4,426 1,238,143 1,249,938 1,224 Other mortgage 676 10,703 - 11,379 506 3,732,461 3,744,346 506 Total real estate - mortgage 1,216 15,623 1,909 18,748 12,021 7,220,678 7,251,447 8,819 Consumer 58 31 105 194 - 63,583 63,777 - Total $ 4,692 $ 19,406 $ 2,184 $ 26,282 $ 19,349 $ 11,613,198 11,658,829 $ 13,847 Under the current expected credit losses (“CECL”) methodology, the ACL is measured on a collective basis for pools of loans with similar risk characteristics. For loans that do not not The Company uses the discounted cash flow (“DCF”) method to estimate ACL for all loan pools except for commercial revolving lines of credit and credit cards. For all loan pools utilizing the DCF method, the Company utilizes and forecasts national unemployment rate as a loss driver. The Company also utilizes and forecasts GDP growth as a second March 31, 2024 December 31, 2023, twelve six December 31, 2023 The Company uses a loss-rate method to estimate expected credit losses for its commercial revolving lines of credit and credit card pools. The commercial revolving lines of credit pool incorporates a probability of default (“PD”) and loss given default (“LGD”) modeling approach. This approach involves estimating the pool average life and then using historical correlations of default and loss experience over time to calculate the lifetime PD and LGD. These two Each loan pool is adjusted for qualitative factors not Inherent risks in the loan portfolio will differ based on type of loan. Specific risk characteristics by loan portfolio segment are listed below: Commercial and industrial loans may may Real estate construction loans Real estate mortgage loans may Consumer loans The following table presents changes in the ACL, segregated by loan type, for the three March 31, 2024 March 31, 2023. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended March 31, 2024 Allowance for credit losses: Balance at December 31, 2023 $ 52,121 $ 44,658 $ 55,126 $ 1,412 $ 153,317 Charge-offs (1,842 ) - (67 ) (98 ) (2,007 ) Recoveries 199 - 6 9 214 Provision 544 1,031 2,575 218 4,368 Balance at March 31, 2024 $ 51,022 $ 45,689 $ 57,640 $ 1,541 $ 155,892 Three Months Ended March 31, 2023 Allowance for credit losses: Balance at December 31, 2022 $ 42,830 $ 42,889 $ 58,652 $ 1,926 $ 146,297 Charge-offs (1,257 ) - (26 ) (390 ) (1,673 ) Recoveries 128 3 1 11 143 Provision 1,193 (2,409 ) 4,530 883 4,197 Balance at March 31, 2023 $ 42,894 $ 40,483 $ 63,157 $ 2,430 $ 148,964 We maintain an ACL on unfunded commercial lending commitments and letters of credit to provide for the risk of loss inherent in these arrangements. The ACL is computed using a methodology similar to that used to determine the ACL for loans, modified to take into account the probability of a drawdown on the commitment. The ACL on unfunded loan commitments is classified as a liability account on the Consolidated Balance Sheets within other liabilities, while the corresponding provision for these credit losses is recorded as a component of other expense. The ACL on unfunded commitments was $742,000 at March 31, 2024 December 31, 2023. three March 31, 2024 2023 zero Loans that no Accounts ACL March 31, 2024 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 18,467 $ 3,834 $ 3,673 $ 29,841 $ 55,815 $ 15,495 Real estate - construction 2,142 - - 972 3,114 - Real estate - mortgage: Owner-occupied commercial 19,476 - - - 19,476 241 1-4 family mortgage 15,542 - - - 15,542 1,580 Other mortgage 5,808 - - - 5,808 568 Total real estate - mortgage 40,826 - - - 40,826 2,389 Consumer - - - - - - Total $ 61,435 $ 3,834 $ 3,673 $ 30,813 $ 99,755 $ 17,884 Accounts ACL December 31, 2023 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 20,266 $ 7,240 $ 2,126 $ 24,016 $ 53,648 $ 16,189 Real estate - construction 145 - - 978 1,123 1 Real estate - mortgage: Owner-occupied commercial 12,038 - - 698 12,736 475 1-4 family mortgage 15,694 - - - 15,694 1,058 Other mortgage 5,062 - - 800 5,862 603 Total real estate - mortgage 32,794 - - 1,498 34,292 2,136 Consumer - - - - - - Total $ 53,205 $ 7,240 $ 2,126 $ 26,492 $ 89,063 $ 18,326 The table below details the amortized cost basis at the end of the reporting period for loans made to borrowers experiencing financial difficulty that were modified during the three March 31, 2024 2023: Three Months Ended March 31, 2024 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 5,568 $ - $ 5,568 0.05 % Real estate - construction 973 - 973 0.01 % Owner-occupied commercial 1,501 - 1,501 0.01 % 1-4 family mortgage 424 - 424 - % Other mortgage 9,913 - 9,913 0.08 % Total $ 18,379 $ - $ 18,379 0.15 % Three Months Ended March 31, 2023 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 28,335 $ - $ 28,335 0.24 % Owner-occupied commercial 23 701 724 0.01 % 1-4 family mortgage 214 - 214 - % Other mortgage 11,254 359 11,613 0.10 % Total $ 39,827 $ 1,060 $ 40,886 0.35 % The following table summarizes the financial impacts of loan modifications made to borrowers experiencing financial difficulty during the three March 31, 2024 2023: Three Months Ended March 31, 2024 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 1 to 6 $ - Real estate - construction 12 - Owner-occupied commercial 12 - 1-4 family mortgage 12 - Other mortgage 11 - Three Months Ended March 31, 2023 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 3 to 12 $ - Real estate - construction 6 - Owner-occupied commercial 3 to 18 49 1-4 family mortgage 3 - Other mortgage 3 to 36 59 No March 31, 2023, 30 March 31, 2024. As of March 31, 2024, not first 2024 90 |
Note 6 - Leases
Note 6 - Leases | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 6 LEASES The Company leases space under non-cancelable operating leases for several of its banking offices and certain office equipment. The leases have remaining terms up to 15 years. At March 31, 2024, December 31, 2023, Maturities of operating lease liabilities are as follows: March 31, 2024 (In Thousands) 2024 (remaining) $ 3,872 2025 4,933 2026 4,106 2027 3,537 2028 2,684 thereafter 11,901 Total lease payments 31,033 Less: imputed interest (4,689 ) Present value of operating lease liabilities $ 26,344 As of March 31, 2024, Operating cash flows related to leases were $1.4 million and $1.2 million for the three March 31, 2024 2023, Lease costs during the three March 31, 2024 2023 Three Months Ended March 31, 2024 2023 Operating lease cost $ 1,393 $ 1,230 Variable lease cost 216 191 Sublease income (5 ) (8 ) Net lease cost $ 1,604 $ 1,413 |
Note 7 - Employee and Director
Note 7 - Employee and Director Benefits | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 7 Stock Incentive Plan At March 31, 2024, three March 31, 2024 2023, The Company’s 2009 ten The Company estimates the fair value of each stock option award using a Black-Scholes-Merton valuation model. Expected volatilities are based on the Company’s trading price history. The expected term for options granted is based on the short-cut method and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. There were no grants of stock options during first 2024 2023. The following table summarizes stock option activity during the three March 31, 2024 2023: Weighted Weighted Average Average Remaining Exercise Contractual Aggregate Shares Price Term (years) Intrinsic Value (In Thousands) Three Months Ended March 31, 2024: Outstanding January 1, 2024 165,800 $ 24.35 2.9 $ 7,211 Exercised (8,300 ) 15.74 0.9 420 Outstanding March 31, 2024 157,500 $ 24.80 2.7 $ 6,744 Exercisable March 31, 2024 140,000 $ 22.63 2.1 $ 6,122 Three Months Ended March 31, 2023: Outstanding January 1, 2023 280,000 $ 19.43 3.0 $ 14,088 Exercised (75,000 ) 10.80 0.9 3,288 Outstanding March 31, 2023 205,000 $ 22.59 3.4 $ 7,428 Exercisable March 31, 2023 152,000 $ 17.28 2.2 $ 5,859 As of March 31, 2024, six Restricted Stock and Performance Shares The Company periodically grants restricted stock awards that vest upon time-based service conditions. Dividend payments are made during the vesting period. The value of restricted stock is determined to be the current value of the Company’s stock, and this total value will be recognized as compensation expense over the vesting period. As of March 31, 2024, The Company periodically grants performance shares that give plan participants the opportunity to earn between 0% and 150% of the number of performance shares granted based on achieving certain performance metrics. The number of performance shares earned is determined by reference to the Company’s total shareholder return relative to a peer group of other publicly traded banks and bank holding companies during the performance period. The performance period is generally three January 1 st March 31, 2024, March 31, 2024, Restricted Stock Performance Shares Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Three Months Ended March 31, 2024: Non-vested at January 1, 2024 158,298 $ 58.08 31,944 $ 58.25 Granted 21,835 67.12 8,894 67.90 Additional performance share attainment - - 6,216 68.18 Vested (25,107 ) 48.19 (18,653 ) 37.05 Forfeited (576 ) 71.43 - - Non-vested at March 31, 2024 154,450 $ 60.92 28,401 $ 77.37 Three Months Ended March 31, 2023: Non-vested at January 1, 2023 141,580 $ 56.39 23,852 $ 54.16 Granted 27,258 69.83 8,091 70.29 Vested (17,521 ) 48.32 - - Forfeited (6,545 ) 69.90 - - Non-vested at March 31, 2023 144,772 $ 59.29 31,943 $ 58.25 |
Note 8 - Derivatives
Note 8 - Derivatives | 3 Months Ended |
Mar. 31, 2024 | |
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 three one one March 31, 2023, 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 March 31, 2024 December 31, 2023 not |
Note 9 - Recently Adopted Accou
Note 9 - Recently Adopted Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
New Adopted Accounting Pronouncements [Text Block] | NOTE 9 RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In March 2023, 2023 02, Investments-Equity Method and Joint Ventures (Topic 323 The amendments in this update permit reporting entities to elect to account for certain tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the income tax benefits in the income statement as a component of income tax expense (benefit). To qualify for the proportional amortization method, all of the following conditions must be met: (i) It is probable that the income tax credits allocated to the tax equity investor will be available; (ii) The tax equity investor does not This ASU is effective for fiscal years beginning after December 15, 2023, January 1, 2024 not |
Note 10 - Recent Accounting Pro
Note 10 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | NOTE 10 RECENT ACCOUNTING PRONOUNCEMENTS In December 2023, No. 2023 09, Income Taxes (Topic 740 2023 09 January 1, 2025. In November 2023, 2023 07, Segment Reporting Improvements to Reportable Segment Disclosures. 280. December 15, 2023, December 31, 2024. not |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 11 Measurement of fair value under U.S. GAAP establishes a hierarchy that prioritizes observable and unobservable inputs used to measure fair value, as of the measurement date, into three Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 Level 2: Observable prices that are based on inputs not Level 3: Unobservable inputs are used when little or no 3 In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and also considers counterparty credit risk in its assessment of fair value. Debt Securities. 1 1 not may 2 1 2 not 3 Derivative instruments. 2 Loans Individually Evaluated. not not 820 10 3 March 31, 2024 December 31, 2023 three March 31, 2024, three March 31, 2023. Other Real Estate Owned not March 31, 2024 December 31, 2023 3 $95,000 three March 31, 2024, three March 31, 2023. 3 There were four March 31, 2024 three December 31, 2023. Three residential real estate loans for $547,000 were in the process of foreclosure as of March 31, 2024. three December 31, 2023. The following table presents the Company’s financial assets carried at fair value on a recurring basis as of March 31, 2024 December 31, 2023. March 31, 2024 December 31, 2023. Fair Value Measurements at March 31, 2024 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 $ 493,969 $ - $ - $ 493,969 Mortgage-backed securities - 254,915 - 254,915 State and municipal securities - 9,958 - 9,958 Corporate debt - 315,086 - 315,086 Total available-for-sale debt securities 493,969 579,959 - 1,073,929 Total assets at fair value $ 493,969 $ 579,959 $ - $ 1,073,929 Fair Value Measurements at December 31, 2023 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury securities $ 340,807 $ - $ - $ 340,807 Mortgage-backed securities - 215,485 - 215,485 State and municipal securities - 10,223 - 10,223 Corporate debt - 326,808 6,860 333,668 Total available-for-sale debt securities 340,807 552,516 6,860 900,183 Total assets at fair value $ 340,807 $ 552,516 $ 6,860 $ 900,183 The following table presents the Company’s financial assets carried at fair value on a nonrecurring basis as of March 31, 2024 December 31, 2023. March 31, 2024 December 31, 2023. Fair Value Measurements at March 31, 2024 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 81,871 $ 81,871 Other real estate owned and repossessed assets - - 490 490 Total assets at fair value $ - $ - $ 82,361 $ 82,361 Fair Value Measurements at December 31, 2023 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 70,735 $ 70,735 Other real estate owned - - 995 995 Total assets at fair value $ - $ - $ 71,730 $ 71,730 There were no liabilities measured at fair value on a non-recurring basis as of March 31, 2024 December 31, 2023. In the case of the debt securities portfolio, the Company monitors the portfolio to ascertain when transfers between levels have been affected. For the three March 31, 2024, two 3 2. The table below includes a roll forward of the balance sheet amounts for the period ended March 31, 2024 March 31, 2023 ( 3 For the period ended March 31, 2024 2023 Available-for-sale Securities Available-for-sale Securities (In Thousands) Fair value, beginning of period $ 6,860 $ 10,860 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 (1,329 ) 160 Purchases - - Transfers out of Level 3 (5,531 ) (4,160 ) Fair value, end of period $ - $ 6,860 The fair value of a financial instrument is the current amount that would be exchanged in a sale between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no not may not may not The estimated fair values of the Company’s financial instruments not March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 1,280,274 $ 1,280,274 $ 2,030,513 $ 2,030,513 Held to maturity U.S. Treasury securities 393,932 368,868 508,985 484,267 Level 2 Inputs: Federal funds sold 170,625 170,625 100,575 100,575 Held to maturity debt securities 473,514 416,152 473,429 422,674 Mortgage loans held for sale 7,592 7,592 5,071 5,071 Restricted equity securities 11,300 11,300 10,226 10,226 Level 3 Inputs: Held to maturity debt securities 250 250 250 250 Loans, net 11,642,933 11,195,399 11,505,512 11,032,819 Financial Liabilities: Level 2 Inputs: Deposits $ 12,751,448 $ 12,743,505 $ 13,273,511 $ 13,266,640 Federal funds purchased 1,345,328 1,345,328 1,256,724 1,256,724 Other borrowings 64,737 58,337 64,735 58,083 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | ITEM 5. None. |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Note 3 - Earnings Per Common _2
Note 3 - Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2024 2023 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 54,491,019 54,360,253 Net income available to common stockholders $ 50,026 $ 57,971 Basic earnings per common share $ 0.92 $ 1.07 Weighted average common shares outstanding 54,491,019 54,360,253 Dilutive effects of assumed conversions and exercise of stock options and warrants 104,365 174,229 Weighted average common and dilutive potential common shares outstanding 54,595,384 54,542,899 Net income available to common stockholders $ 50,026 $ 57,971 Diluted earnings per common share $ 0.92 $ 1.06 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value March 31, 2024 (In Thousands) Debt Securities Available-for-Sale U.S. Treasury Securities $ 494,156 $ 10 $ (197 ) $ 493,969 Mortgage-backed securities 281,343 249 (26,677 ) 254,915 State and municipal securities 11,142 1 (1,186 ) 9,958 Corporate debt 352,684 60 (37,657 ) 315,086 Total $ 1,139,325 $ 320 $ (65,716 ) $ 1,073,929 Debt Securities Held-to-Maturity U.S. Treasury Securities $ 393,932 $ - $ (25,065 ) $ 368,868 Mortgage-backed securities 465,695 5 (56,634 ) 409,066 State and municipal securities 8,069 - (733 ) 7,336 Total $ 867,696 $ 5 $ (82,431 ) $ 785,270 December 31, 2023 Debt Securities Available-for-Sale U.S. Treasury Securities $ 340,556 $ 251 $ - $ 340,807 Mortgage-backed securities 241,458 6 (25,979 ) 215,485 State and municipal securities 11,400 1 (1,178 ) 10,223 Corporate debt 375,676 - (42,009 ) 333,667 Total $ 969,090 $ 258 $ (69,166 ) $ 900,183 Debt Securities Held-to-Maturity U.S. Treasury Securities $ 508,985 $ - $ (24,718 ) $ 484,267 Mortgage-backed securities 465,615 3 (50,025 ) 415,593 State and municipal securities 8,063 - (732 ) 7,331 Total $ 982,664 $ 3 $ (75,475 ) $ 907,191 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | March 31, 2024 December 31, 2023 Amortized Cost Market Value Amortized Cost Market Value (In Thousands) Debt securities available-for-sale Due within one year $ 430,857 $ 430,760 $ 350,400 $ 350,396 Due from one to five years 132,967 129,779 70,016 67,334 Due from five to ten years 291,157 256,407 304,216 264,893 Due after ten years 3,000 2,068 3,000 2,076 Mortgage-backed securities 281,343 254,915 241,458 215,485 $ 1,139,325 $ 1,073,929 $ 969,090 $ 900,183 Debt securities held-to-maturity Due within one year $ 144,940 $ 144,283 $ 260,047 $ 257,835 Due from one to five years 253,772 229,043 203,481 185,741 Due from five to ten years 3,289 2,878 53,521 48,022 Mortgage-backed securities 465,695 409,066 465,615 415,593 $ 867,696 $ 785,270 $ 982,664 $ 907,191 |
Gain (Loss) on Securities [Table Text Block] | Less Than Twelve Months Twelve Months or More Total Gross Gross Gross Unrealized Unrealized Unrealized Losses Fair Value Losses Fair Value Losses Fair Value (In Thousands) March 31, 2024 Debt Securities available-for-sale U.S. Treasury Securities $ (197 ) $ 479,762 $ - $ - $ (197 ) $ 479,762 Government Agency Securities - - - - - - Mortgage-backed securities (2 ) 161 (26,674 ) 205,195 (26,677 ) 205,356 State and municipal securities - - (1,186 ) 9,512 (1,186 ) 9,512 Corporate debt (2,392 ) 11,108 (35,265 ) 294,003 (37,657 ) 305,111 Total $ (2,591 ) $ 491,031 $ (63,125 ) $ 508,710 $ (65,716 ) $ 999,741 Debt Securities held-to-maturity U.S. Treasury Securities $ - $ - $ (25,065 ) $ 368,868 $ (25,065 ) $ 368,868 Mortgage-backed securities (162 ) 9,895 (56,471 ) 393,887 (56,634 ) 405,323 State and municipal securities - - (733 ) 7,086 (733 ) 7,086 Total $ (162 ) $ 9,895 $ (82,269 ) $ 771,382 $ (82,431 ) $ 779,735 December 31, 2023 Debt Securities available-for-sale Mortgage-backed securities $ (6 ) $ 704 $ (25,973 ) $ 214,393 $ (25,979 ) $ 215,097 State and municipal securities - - (1,178 ) 9,777 (1,178 ) 9,777 Corporate debt (794 ) 15,141 (41,214 ) 311,666 (42,009 ) 326,807 Total $ (801 ) $ 15,845 $ (68,365 ) $ 535,836 $ (69,166 ) $ 551,681 Debt Securities held-to-maturity U.S. Treasury Securities $ - $ - $ (24,718 ) $ 484,267 $ (24,718 ) $ 484,267 Mortgage-backed securities (1 ) 430 (50,024 ) 411,585 (50,025 ) 412,015 State and municipal securities - - (732 ) 7,081 (732 ) 7,081 Total $ (1 ) $ 430 $ (75,474 ) $ 902,933 $ (75,475 ) $ 903,363 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2024 2023 (Dollars In Thousands) Commercial, financial and agricultural $ 2,834,102 $ 2,823,986 Real estate - construction 1,546,716 1,519,619 Real estate - mortgage: Owner-occupied commercial 2,377,042 2,257,163 1-4 family mortgage 1,284,888 1,249,938 Other mortgage 3,777,758 3,744,346 Subtotal: Real estate - mortgage 7,439,688 7,251,447 Consumer 60,190 63,777 Total Loans 11,880,696 11,658,829 Less: Allowance for credit losses (155,892 ) (153,317 ) Net Loans $ 11,724,804 $ 11,505,512 Commercial, financial and agricultural 23.85 % 24.22 % Real estate - construction 13.02 % 13.03 % Real estate - mortgage: Owner-occupied commercial 20.01 % 19.36 % 1-4 family mortgage 10.81 % 10.72 % Other mortgage 31.80 % 32.12 % Subtotal: Real estate - mortgage 62.62 % 62.20 % Consumer 0.51 % 0.55 % Total Loans 100.00 % 100.00 % |
Financing Receivable Based on Year of Origination [Table Text Block] | March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Revolving lines of credit converted to term loans Total (In Thousands) Commercial, financial and agricultural Pass $ 107,544 $ 316,897 $ 437,779 $ 344,676 $ 149,733 $ 234,363 $ 1,141,682 $ 430 $ 2,733,104 Special Mention 737 403 1,769 4,277 4,692 6,419 26,880 2 45,179 Substandard - accruing 501 1,364 - 385 427 27,406 5,176 - 35,259 Substandard -Non-accrual - 3,575 226 2,385 206 11,786 2,382 - 20,560 Total Commercial, financial and agricultural $ 108,782 $ 322,239 $ 439,774 $ 351,723 $ 155,058 $ 279,974 $ 1,176,120 $ 432 $ 2,834,102 Current-period gross write-offs $ - $ - $ - $ - $ - $ 1,106 $ 736 $ - $ 1,842 Real estate - construction Pass $ 48,543 $ 254,568 $ 847,543 $ 252,588 $ 50,092 $ 20,705 $ 68,975 $ - $ 1,543,014 Special Mention - 590 - - - - - - 590 Substandard - accruing - - 1,997 - - 973 - - 2,970 Substandard -Non-accrual - - 34 - - - - 108 142 Total Real estate - construction $ 48,543 $ 255,158 $ 849,574 $ 252,588 $ 50,092 $ 21,678 $ 68,975 $ 108 $ 1,546,716 Owner-occupied commercial Pass $ 80,143 $ 171,911 $ 517,845 $ 528,261 $ 290,718 $ 669,803 $ 58,928 $ 834 $ 2,318,443 Special Mention - 5,359 8,785 792 8,279 15,957 - - 39,172 Substandard - accruing - 1,333 - 6,847 - 2,506 - - 10,686 Substandard -Non-accrual - - - - - 8,741 - - 8,741 Total Owner-occupied commercial $ 80,143 $ 178,603 $ 526,630 $ 535,900 $ 298,997 $ 697,007 $ 58,928 $ 834 $ 2,377,042 1-4 family mortgage Pass $ 61,318 $ 155,581 $ 369,024 $ 220,533 $ 77,073 $ 97,362 $ 289,012 $ - $ 1,269,903 Special Mention - 709 428 2,269 764 4,862 905 - 9,937 Substandard - accruing - - - - - 424 117 - 541 Substandard -Non-accrual - 156 433 1,000 643 1,475 800 - 4,507 Total 1-4 family mortgage $ 61,318 $ 156,446 $ 369,885 $ 223,802 $ 78,480 $ 104,123 $ 290,834 $ - $ 1,284,888 Current-period gross write-offs $ - $ - $ - $ 62 $ - $ - $ 5 $ - $ 67 Other mortgage Pass $ 82,631 $ 156,951 $ 1,129,986 $ 1,090,507 $ 429,593 $ 774,646 $ 91,073 $ 247 $ 3,755,634 Special Mention - - 5,034 - - 751 - - 5,785 Substandard - accruing - - 4,958 660 - 10,215 - - 15,833 Substandard -Non-accrual - - - - - 506 - - 506 Total Other mortgage $ 82,631 $ 156,951 $ 1,139,978 $ 1,091,167 $ 429,593 $ 786,118 $ 91,073 $ 247 $ 3,777,758 Consumer Pass $ 1,102 $ 21,705 $ 3,467 $ 4,377 $ 1,662 $ 3,849 $ 24,028 $ - $ 60,190 Special Mention - - - - - - - - - Substandard - accruing - - - - - - - - - Total Consumer $ 1,102 $ 21,705 $ 3,467 $ 4,377 $ 1,662 $ 3,849 $ 24,028 $ - $ 60,190 Current-period gross write-offs $ - $ 8 $ - $ - $ - $ - $ 90 $ - $ 98 Total Loans Pass $ 381,281 $ 1,077,613 $ 3,305,644 $ 2,440,942 $ 998,871 $ 1,800,728 $ 1,673,698 $ 1,511 $ 11,680,288 Special Mention 737 7,061 16,016 7,338 13,735 27,989 27,785 2 100,663 Substandard - accruing 501 2,697 6,955 7,892 427 41,524 5,293 - 65,289 Substandard -Non-accrual - 3,731 693 3,385 849 22,508 3,182 108 34,456 Total Loans $ 382,519 $ 1,091,102 $ 3,329,308 $ 2,459,557 $ 1,013,882 $ 1,892,749 $ 1,709,958 $ 1,621 $ 11,880,696 Current-period gross write-offs $ - $ 8 $ - $ 62 $ - $ 1,106 $ 831 $ - $ 2,007 December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Revolving lines of credit converted to term loans Total (In Thousands) Commercial, financial and agricultural Pass $ 341,335 $ 455,281 $ 354,034 $ 162,543 $ 100,032 $ 151,527 $ 1,161,324 $ 491 $ 2,726,567 Special Mention 4,275 1,982 5,105 5,765 1,320 3,549 21,769 7 43,772 Substandard - accruing 1,410 - 2,830 368 9,501 27,962 4,360 - 46,431 Substandard -Non-accrual - 2 767 206 - 3,336 2,905 - 7,216 Total Commercial, financial and agricultural $ 347,020 $ 457,265 $ 362,736 $ 168,882 $ 110,853 $ 186,374 $ 1,190,358 $ 498 $ 2,823,986 Current-period gross write-offs $ 1,213 $ 4,690 $ 2,531 $ 779 $ 4 $ 2,014 $ 1,998 $ - $ 13,229 Real estate - construction Pass $ 216,745 $ 874,903 $ 283,012 $ 49,668 $ 4,866 $ 16,558 $ 72,156 $ - $ 1,517,908 Special Mention 589 - - - - - - - 589 Substandard - accruing - 33 - - - 978 - - 1,011 Substandard -Non-accrual - - - - - - - 111 111 Total Real estate - construction $ 217,334 $ 874,936 $ 283,012 $ 49,668 $ 4,866 $ 17,536 $ 72,156 $ 111 $ 1,519,619 Current-period gross write-offs $ - $ - $ 19 $ - $ - $ - $ - $ 89 $ 108 Owner-occupied commercial Pass $ 148,915 $ 478,364 $ 517,667 $ 300,978 $ 181,864 $ 512,752 $ 64,170 $ 844 $ 2,205,554 Special Mention 5,369 1,411 7,705 8,317 8,530 7,539 - - 38,871 Substandard - accruing 1,358 - - - - 4,292 - - 5,650 Substandard -Non-accrual - - - - 2,329 4,759 - - 7,088 Total Owner-occupied commercial $ 155,642 $ 479,775 $ 525,372 $ 309,295 $ 192,723 $ 529,342 $ 64,170 $ 844 $ 2,257,163 Current-period gross write-offs $ - $ - $ - $ - $ 117 $ - $ - $ - $ 117 1-4 family mortgage Pass $ 166,927 $ 376,964 $ 228,183 $ 75,104 $ 40,697 $ 61,046 $ 286,066 $ - $ 1,234,987 Special Mention 574 721 2,504 1,009 3,865 439 727 - 9,839 Substandard - accruing - - - - - 425 261 - 686 Substandard -Non-accrual 155 380 741 572 877 901 800 - 4,426 Total 1-4 family mortgage $ 167,656 $ 378,065 $ 231,428 $ 76,685 $ 45,439 $ 62,811 $ 287,854 $ - $ 1,249,938 Current-period gross write-offs $ - $ 40 $ - $ - $ - $ 14 $ - $ - $ 54 Other mortgage Pass $ 162,418 $ 1,119,609 $ 1,106,055 $ 448,781 $ 249,059 $ 540,325 $ 100,516 $ 247 $ 3,727,010 Special Mention - - - - - - 850 - 850 Substandard - accruing - 4,975 - - - 11,005 - - 15,980 Substandard -Non-accrual - - - - 130 376 - - 506 Total Other mortgage $ 162,418 $ 1,124,584 $ 1,106,055 $ 448,781 $ 249,189 $ 551,706 $ 101,366 $ 247 $ 3,744,346 Current-period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer Pass $ 22,227 $ 3,890 $ 4,542 $ 1,794 $ 1,295 $ 2,687 $ 27,342 $ - $ 63,777 Special Mention - - - - - - - - - Substandard - accruing - - - - - - - - - Substandard -Non-accrual - - - - - - - - - Total Consumer $ 22,227 $ 3,890 $ 4,542 $ 1,794 $ 1,295 $ 2,687 $ 27,342 $ - $ 63,777 Current-period gross write-offs $ - $ - $ - $ - $ 4 $ 49 $ 1,020 $ - $ 1,073 Total Loans Pass $ 1,058,567 $ 3,309,011 $ 2,493,493 $ 1,038,868 $ 577,813 $ 1,284,895 $ 1,711,574 $ 1,582 $ 11,475,803 Special Mention 10,807 4,114 15,314 15,091 13,715 11,527 23,346 7 93,921 Substandard - accruing 2,768 5,008 2,830 368 9,501 44,662 4,621 - 69,758 Substandard -Non-accrual 155 382 1,508 778 3,336 9,372 3,705 111 19,347 Total Loans $ 1,072,297 $ 3,318,515 $ 2,513,145 $ 1,055,105 $ 604,365 $ 1,350,456 $ 1,743,246 $ 1,700 $ 11,658,829 Current-period gross write-offs $ 1,213 $ 4,730 $ 2,550 $ 779 $ 125 $ 2,077 $ 3,018 $ 89 $ 14,581 |
Financing Receivable, Credit Substitute, Credit Quality Indicator [Table Text Block] | March 31, 2024 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,813,190 $ 20,912 $ 2,834,102 Real estate - construction 1,546,574 142 1,546,716 Real estate - mortgage: Owner-occupied commercial 2,368,301 8,741 2,377,042 1-4 family mortgage 1,280,381 4,507 1,284,888 Other mortgage 3,777,252 506 3,777,758 Total real estate - mortgage 7,425,934 13,754 7,439,688 Consumer 60,161 29 60,190 Total $ 11,845,859 $ 34,837 $ 11,880,696 December 31, 2023 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,816,599 $ 7,387 $ 2,823,986 Real estate - construction 1,519,508 111 1,519,619 Real estate - mortgage: Owner-occupied commercial 2,250,074 7,089 2,257,163 1-4 family mortgage 1,243,603 6,335 1,249,938 Other mortgage 3,743,840 506 3,744,346 Total real estate - mortgage 7,237,517 13,930 7,251,447 Consumer 63,672 105 63,777 Total $ 11,637,296 $ 21,533 $ 11,658,829 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2024 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 $ 9,962 $ 444 $ 351 $ 10,757 $ 20,561 $ 2,802,784 $ 2,834,102 $ 4,479 Real estate - construction - - - - 142 1,546,574 1,546,716 142 Real estate - mortgage: Owner-occupied commercial 1,241 103 - 1,344 8,741 2,366,957 2,377,042 6,939 1-4 family mortgage 3,623 951 - 4,574 4,507 1,275,807 1,284,888 1,199 Other mortgage - - - - 506 3,777,252 3,777,758 506 Total real estate - mortgage 4,864 1,054 - 5,918 13,754 7,420,016 7,439,688 8,644 Consumer 115 74 29 218 - 59,972 60,190 - Total $ 14,941 $ 1,572 $ 380 $ 16,893 $ 34,457 $ 11,829,346 $ 11,880,696 $ 13,265 December 31, 2023 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With No ACL (In Thousands) Commercial, financial and agricultural $ 3,418 $ 3,718 $ 170 $ 7,306 $ 7,217 $ 2,809,463 2,823,986 $ 5,028 Real estate - construction - 34 - 34 111 1,519,474 1,519,619 - Real estate - mortgage: Owner-occupied commercial - - - - 7,089 2,250,074 2,257,163 7,089 1-4 family mortgage 540 4,920 1,909 7,369 4,426 1,238,143 1,249,938 1,224 Other mortgage 676 10,703 - 11,379 506 3,732,461 3,744,346 506 Total real estate - mortgage 1,216 15,623 1,909 18,748 12,021 7,220,678 7,251,447 8,819 Consumer 58 31 105 194 - 63,583 63,777 - Total $ 4,692 $ 19,406 $ 2,184 $ 26,282 $ 19,349 $ 11,613,198 11,658,829 $ 13,847 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended March 31, 2024 Allowance for credit losses: Balance at December 31, 2023 $ 52,121 $ 44,658 $ 55,126 $ 1,412 $ 153,317 Charge-offs (1,842 ) - (67 ) (98 ) (2,007 ) Recoveries 199 - 6 9 214 Provision 544 1,031 2,575 218 4,368 Balance at March 31, 2024 $ 51,022 $ 45,689 $ 57,640 $ 1,541 $ 155,892 Three Months Ended March 31, 2023 Allowance for credit losses: Balance at December 31, 2022 $ 42,830 $ 42,889 $ 58,652 $ 1,926 $ 146,297 Charge-offs (1,257 ) - (26 ) (390 ) (1,673 ) Recoveries 128 3 1 11 143 Provision 1,193 (2,409 ) 4,530 883 4,197 Balance at March 31, 2023 $ 42,894 $ 40,483 $ 63,157 $ 2,430 $ 148,964 |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | Accounts ACL March 31, 2024 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 18,467 $ 3,834 $ 3,673 $ 29,841 $ 55,815 $ 15,495 Real estate - construction 2,142 - - 972 3,114 - Real estate - mortgage: Owner-occupied commercial 19,476 - - - 19,476 241 1-4 family mortgage 15,542 - - - 15,542 1,580 Other mortgage 5,808 - - - 5,808 568 Total real estate - mortgage 40,826 - - - 40,826 2,389 Consumer - - - - - - Total $ 61,435 $ 3,834 $ 3,673 $ 30,813 $ 99,755 $ 17,884 Accounts ACL December 31, 2023 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 20,266 $ 7,240 $ 2,126 $ 24,016 $ 53,648 $ 16,189 Real estate - construction 145 - - 978 1,123 1 Real estate - mortgage: Owner-occupied commercial 12,038 - - 698 12,736 475 1-4 family mortgage 15,694 - - - 15,694 1,058 Other mortgage 5,062 - - 800 5,862 603 Total real estate - mortgage 32,794 - - 1,498 34,292 2,136 Consumer - - - - - - Total $ 53,205 $ 7,240 $ 2,126 $ 26,492 $ 89,063 $ 18,326 |
Financing Receivable, Modified [Table Text Block] | Three Months Ended March 31, 2024 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 5,568 $ - $ 5,568 0.05 % Real estate - construction 973 - 973 0.01 % Owner-occupied commercial 1,501 - 1,501 0.01 % 1-4 family mortgage 424 - 424 - % Other mortgage 9,913 - 9,913 0.08 % Total $ 18,379 $ - $ 18,379 0.15 % Three Months Ended March 31, 2023 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 28,335 $ - $ 28,335 0.24 % Owner-occupied commercial 23 701 724 0.01 % 1-4 family mortgage 214 - 214 - % Other mortgage 11,254 359 11,613 0.10 % Total $ 39,827 $ 1,060 $ 40,886 0.35 % Three Months Ended March 31, 2024 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 1 to 6 $ - Real estate - construction 12 - Owner-occupied commercial 12 - 1-4 family mortgage 12 - Other mortgage 11 - Three Months Ended March 31, 2023 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 3 to 12 $ - Real estate - construction 6 - Owner-occupied commercial 3 to 18 49 1-4 family mortgage 3 - Other mortgage 3 to 36 59 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | March 31, 2024 (In Thousands) 2024 (remaining) $ 3,872 2025 4,933 2026 4,106 2027 3,537 2028 2,684 thereafter 11,901 Total lease payments 31,033 Less: imputed interest (4,689 ) Present value of operating lease liabilities $ 26,344 |
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2024 2023 Operating lease cost $ 1,393 $ 1,230 Variable lease cost 216 191 Sublease income (5 ) (8 ) Net lease cost $ 1,604 $ 1,413 |
Note 7 - Employee and Directo_2
Note 7 - Employee and Director Benefits (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Exercise Contractual Aggregate Shares Price Term (years) Intrinsic Value (In Thousands) Three Months Ended March 31, 2024: Outstanding January 1, 2024 165,800 $ 24.35 2.9 $ 7,211 Exercised (8,300 ) 15.74 0.9 420 Outstanding March 31, 2024 157,500 $ 24.80 2.7 $ 6,744 Exercisable March 31, 2024 140,000 $ 22.63 2.1 $ 6,122 Three Months Ended March 31, 2023: Outstanding January 1, 2023 280,000 $ 19.43 3.0 $ 14,088 Exercised (75,000 ) 10.80 0.9 3,288 Outstanding March 31, 2023 205,000 $ 22.59 3.4 $ 7,428 Exercisable March 31, 2023 152,000 $ 17.28 2.2 $ 5,859 |
Share-Based Payment Arrangement, Outstanding Award, Activity, Excluding Option [Table Text Block] | Restricted Stock Performance Shares Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Three Months Ended March 31, 2024: Non-vested at January 1, 2024 158,298 $ 58.08 31,944 $ 58.25 Granted 21,835 67.12 8,894 67.90 Additional performance share attainment - - 6,216 68.18 Vested (25,107 ) 48.19 (18,653 ) 37.05 Forfeited (576 ) 71.43 - - Non-vested at March 31, 2024 154,450 $ 60.92 28,401 $ 77.37 Three Months Ended March 31, 2023: Non-vested at January 1, 2023 141,580 $ 56.39 23,852 $ 54.16 Granted 27,258 69.83 8,091 70.29 Vested (17,521 ) 48.32 - - Forfeited (6,545 ) 69.90 - - Non-vested at March 31, 2023 144,772 $ 59.29 31,943 $ 58.25 |
Note 11 - Fair Value Measurem_2
Note 11 - Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at March 31, 2024 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 $ 493,969 $ - $ - $ 493,969 Mortgage-backed securities - 254,915 - 254,915 State and municipal securities - 9,958 - 9,958 Corporate debt - 315,086 - 315,086 Total available-for-sale debt securities 493,969 579,959 - 1,073,929 Total assets at fair value $ 493,969 $ 579,959 $ - $ 1,073,929 Fair Value Measurements at December 31, 2023 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury securities $ 340,807 $ - $ - $ 340,807 Mortgage-backed securities - 215,485 - 215,485 State and municipal securities - 10,223 - 10,223 Corporate debt - 326,808 6,860 333,668 Total available-for-sale debt securities 340,807 552,516 6,860 900,183 Total assets at fair value $ 340,807 $ 552,516 $ 6,860 $ 900,183 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at March 31, 2024 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 81,871 $ 81,871 Other real estate owned and repossessed assets - - 490 490 Total assets at fair value $ - $ - $ 82,361 $ 82,361 Fair Value Measurements at December 31, 2023 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Loans individually evaluated $ - $ - $ 70,735 $ 70,735 Other real estate owned - - 995 995 Total assets at fair value $ - $ - $ 71,730 $ 71,730 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | For the period ended March 31, 2024 2023 Available-for-sale Securities Available-for-sale Securities (In Thousands) Fair value, beginning of period $ 6,860 $ 10,860 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 (1,329 ) 160 Purchases - - Transfers out of Level 3 (5,531 ) (4,160 ) Fair value, end of period $ - $ 6,860 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2024 December 31, 2023 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 1,280,274 $ 1,280,274 $ 2,030,513 $ 2,030,513 Held to maturity U.S. Treasury securities 393,932 368,868 508,985 484,267 Level 2 Inputs: Federal funds sold 170,625 170,625 100,575 100,575 Held to maturity debt securities 473,514 416,152 473,429 422,674 Mortgage loans held for sale 7,592 7,592 5,071 5,071 Restricted equity securities 11,300 11,300 10,226 10,226 Level 3 Inputs: Held to maturity debt securities 250 250 250 250 Loans, net 11,642,933 11,195,399 11,505,512 11,032,819 Financial Liabilities: Level 2 Inputs: Deposits $ 12,751,448 $ 12,743,505 $ 13,273,511 $ 13,266,640 Federal funds purchased 1,345,328 1,345,328 1,256,724 1,256,724 Other borrowings 64,737 58,337 64,735 58,083 |
Note 3 - Earnings Per Common _3
Note 3 - Earnings Per Common Share - Summary of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Weighted average common shares outstanding (in shares) | 54,491,019 | 54,360,253 |
Net income available to common stockholders | $ 50,026 | $ 57,971 |
Basic earnings per common share (in dollars per share) | $ 0.92 | $ 1.07 |
Dilutive effects of assumed conversions and exercise of stock options and warrants (in shares) | 104,365 | 174,229 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 54,595,384 | 54,542,899 |
Net income available to common stockholders | $ 50,026 | $ 57,971 |
Diluted earnings per common share (in dollars per share) | $ 0.92 | $ 1.06 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 |
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 | $ 1,480,000 | $ 1,490,000 |
Note 4 - Securities - Amortized
Note 4 - Securities - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Available for sale, amortized cost | $ 1,139,325 | $ 969,090 | |
Available for sale, gross unrealized gain | 320 | 258 | |
Available for sale, gross unrealized loss | (65,716) | (69,166) | |
Available for sale, fair value | 1,073,929 | 900,183 | [1] |
Held to maturity, amortized cost | 867,696 | 982,664 | [1] |
Held to maturity, gross unrealized gain | 5 | 3 | |
Held to maturity, gross unrealized loss | (82,431) | (75,475) | |
Held to maturity debt securities, fair value | 785,270 | 907,191 | |
US Treasury Securities [Member] | |||
Available for sale, amortized cost | 494,156 | 340,556 | |
Available for sale, gross unrealized gain | 10 | 251 | |
Available for sale, gross unrealized loss | (197) | 0 | |
Available for sale, fair value | 493,969 | 340,807 | |
Held to maturity, amortized cost | 393,932 | 508,985 | |
Held to maturity, gross unrealized gain | 0 | 0 | |
Held to maturity, gross unrealized loss | (25,065) | (24,718) | |
Held to maturity debt securities, fair value | 368,868 | 484,267 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, amortized cost | 281,343 | 241,458 | |
Available for sale, gross unrealized gain | 249 | 6 | |
Available for sale, gross unrealized loss | (26,677) | (25,979) | |
Available for sale, fair value | 254,915 | 215,485 | |
Held to maturity, amortized cost | 465,695 | 465,615 | |
Held to maturity, gross unrealized gain | 5 | 3 | |
Held to maturity, gross unrealized loss | (56,634) | (50,025) | |
Held to maturity debt securities, fair value | 409,066 | 415,593 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, amortized cost | 11,142 | 11,400 | |
Available for sale, gross unrealized gain | 1 | 1 | |
Available for sale, gross unrealized loss | (1,186) | (1,178) | |
Available for sale, fair value | 9,958 | 10,223 | |
Held to maturity, amortized cost | 8,069 | 8,063 | |
Held to maturity, gross unrealized gain | 0 | 0 | |
Held to maturity, gross unrealized loss | (733) | (732) | |
Held to maturity debt securities, fair value | 7,336 | 7,331 | |
Corporate Debt Securities [Member] | |||
Available for sale, amortized cost | 352,684 | 375,676 | |
Available for sale, gross unrealized gain | 60 | 0 | |
Available for sale, gross unrealized loss | (37,657) | (42,009) | |
Available for sale, fair value | $ 315,086 | $ 333,667 | |
[1]derived from audited financial statements. |
Note 4 - Securities - Amortiz_2
Note 4 - Securities - Amortized Cost and Fair Value of Contractual Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Due within one year, amortized cost | $ 430,857 | $ 350,400 | |
Due within one year, fair value | 430,760 | 350,396 | |
Due from one to five years, amortized cost | 132,967 | 70,016 | |
Due from one to five years, fair value | 129,779 | 67,334 | |
Due from five to ten years, amortized cost | 291,157 | 304,216 | |
Due from five to ten years, fair value | 256,407 | 264,893 | |
Due after ten years, amortized cost | 3,000 | 3,000 | |
Due after ten years, fair value | 2,068 | 2,076 | |
Mortgage-backed securities, amortized cost | 281,343 | 241,458 | |
Mortgage-backed securities, fair value | 254,915 | 215,485 | |
Available for sale, amortized cost | 1,139,325 | 969,090 | |
Available for sale, fair value | 1,073,929 | 900,183 | [1] |
Held to maturity debt securities, Due within one year | 144,940 | 260,047 | |
Held to maturity debt securities, Due within one year, fair value | 144,283 | 257,835 | |
Held to maturity debt securities, Due from one to five years | 253,772 | 203,481 | |
Held to maturity debt securities, Due from one to five years, fair value | 229,043 | 185,741 | |
Held to maturity debt securities, Due from five to ten years | 3,289 | 53,521 | |
Held to maturity debt securities, Due from five to ten years, fair value | 2,878 | 48,022 | |
Mortgage-backed securities, amortized cost | 465,695 | 465,615 | |
Mortgage-backed securities, fair value | 409,066 | 415,593 | |
Held to maturity, amortized cost | 867,696 | 982,664 | [1] |
Held to maturity debt securities, fair value | $ 785,270 | $ 907,191 | |
[1]derived from audited financial statements. |
Note 4 - Securities - Investmen
Note 4 - Securities - Investment Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2022 |
Debt securities available for sale, less than twelve months, gross unrealized losses | $ (2,591) | $ (801) |
Debt securities available for sale, less than twelve months, fair value | 491,031 | 15,845 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (63,125) | (68,365) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 508,710 | 535,836 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (65,716) | (69,166) |
Debt Securities, Available for Sale, Fair Value | 999,741 | 551,681 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (162) | (1) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 9,895 | 430 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (82,269) | (75,474) |
Debt Securities, Held To Maturity, Twelve Months or More, Fair Value | 771,382 | 902,933 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (82,431) | (75,475) |
Debt Securities,Held To Maturity, Fair Value | 779,735 | 903,363 |
US Treasury Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (197) | |
Debt securities available for sale, less than twelve months, fair value | 479,762 | |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | 0 | |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 0 | |
Debt Securities, Available for Sale, Gross Unrealized Losses | (197) | |
Debt Securities, Available for Sale, Fair Value | 479,762 | |
Debt Securities held to maturity less than twelve months, gross unrealized losses | 0 | 0 |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 0 | 0 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (25,065) | (24,718) |
Debt Securities, Held To Maturity, Twelve Months or More, Fair Value | 368,868 | 484,267 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (25,065) | (24,718) |
Debt Securities,Held To Maturity, Fair Value | 368,868 | 484,267 |
US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | 0 | |
Debt securities available for sale, less than twelve months, fair value | 0 | |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | 0 | |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 0 | |
Debt Securities, Available for Sale, Gross Unrealized Losses | 0 | |
Debt Securities, Available for Sale, Fair Value | 0 | |
Collateralized Mortgage-Backed Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (2) | (6) |
Debt securities available for sale, less than twelve months, fair value | 161 | 704 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (26,674) | (25,973) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 205,195 | 214,393 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (26,677) | (25,979) |
Debt Securities, Available for Sale, Fair Value | 205,356 | 215,097 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | (162) | (1) |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 9,895 | 430 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (56,471) | (50,024) |
Debt Securities, Held To Maturity, Twelve Months or More, Fair Value | 393,887 | 411,585 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (56,634) | (50,025) |
Debt Securities,Held To Maturity, Fair Value | 405,323 | 412,015 |
US States and Political Subdivisions 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 | 0 | 0 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (1,186) | (1,178) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 9,512 | 9,777 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (1,186) | (1,178) |
Debt Securities, Available for Sale, Fair Value | 9,512 | 9,777 |
Debt Securities held to maturity less than twelve months, gross unrealized losses | 0 | 0 |
Debt securities, held to maturity, Less Than Twelve Months, Fair Value | 0 | 0 |
Debt Securities Held To Maturity, Twelve Months or More, Gross Unrealized Losses | (733) | (732) |
Debt Securities, Held To Maturity, Twelve Months or More, Fair Value | 7,086 | 7,081 |
Debt Securities, Held To Maturity , Gross Unrealized Losses | (733) | (732) |
Debt Securities,Held To Maturity, Fair Value | 7,086 | 7,081 |
Corporate Debt Securities [Member] | ||
Debt securities available for sale, less than twelve months, gross unrealized losses | (2,392) | (794) |
Debt securities available for sale, less than twelve months, fair value | 11,108 | 15,141 |
Debt Securities Available for Sale, Twelve Months or More, Gross Unrealized Losses | (35,265) | (41,214) |
Debt Securities, Available for Sale, Twelve Months or More, Fair Value | 294,003 | 311,666 |
Debt Securities, Available for Sale, Gross Unrealized Losses | (37,657) | (42,009) |
Debt Securities, Available for Sale, Fair Value | $ 305,111 | $ 326,807 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) - USD ($) | 3 Months Ended | ||||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | ||
Financing Receivable, Allowance for Credit Loss | $ 155,892,000 | $ 148,964,000 | $ 153,317,000 | [1] | $ 146,297,000 |
Financing Receivable, Credit Loss, Expense (Reversal) | 4,368,000 | 4,197,000 | |||
Unfunded Loan Commitment [Member] | |||||
Financing Receivable, Allowance for Credit Loss | 742,000 | $ 575,000 | |||
Financing Receivable, Credit Loss, Expense (Reversal) | $ 167,000 | $ 0 | |||
[1]derived from audited financial statements. |
Note 5 - Loans - Summary of Loa
Note 5 - Loans - Summary of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | |
Total loans | $ 11,880,696 | $ 11,658,829 | [1] | ||
Less: Allowance for credit losses | (155,892) | (153,317) | [1] | $ (148,964) | $ (146,297) |
Net Loans | $ 11,724,804 | $ 11,505,512 | [1] | ||
Financing receivable, gross percentage | 100% | 100% | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Total loans | $ 2,834,102 | $ 2,823,986 | |||
Financing receivable, gross percentage | 23.85% | 24.22% | |||
Real Estate Portfolio Segment[Member] | |||||
Total loans | $ 7,439,688 | $ 7,251,447 | |||
Financing receivable, gross percentage | 62.62% | 62.20% | |||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Total loans | $ 1,546,716 | $ 1,519,619 | |||
Less: Allowance for credit losses | $ (45,689) | $ (44,658) | (40,483) | (42,889) | |
Financing receivable, gross percentage | 13.02% | 13.03% | |||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Total loans | $ 2,377,042 | $ 2,257,163 | |||
Financing receivable, gross percentage | 20.01% | 19.36% | |||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Total loans | $ 1,284,888 | $ 1,249,938 | |||
Financing receivable, gross percentage | 10.81% | 10.72% | |||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Total loans | $ 3,777,758 | $ 3,744,346 | |||
Financing receivable, gross percentage | 31.80% | 32.12% | |||
Consumer Portfolio Segment [Member] | |||||
Total loans | $ 60,190 | $ 63,777 | |||
Less: Allowance for credit losses | $ (1,541) | $ (1,412) | $ (2,430) | $ (1,926) | |
Financing receivable, gross percentage | 0.51% | 0.55% | |||
[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 | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | ||
Originated current year | $ 382,519 | $ 1,072,297 | ||
Originated year two | 1,091,102 | 3,318,515 | ||
Originated year three | 3,329,308 | 2,513,145 | ||
Originated year four | 2,459,557 | 1,055,105 | ||
Originated year five | 1,013,882 | 604,365 | ||
Originated prior | 1,892,749 | 1,350,456 | ||
Revolving | 1,709,958 | 1,743,246 | ||
Revolving converted to term | 1,621 | 1,700 | ||
Total loans | 11,880,696 | 11,658,829 | [1] | |
Current-period gross write-offs | 1,213 | |||
Current-period gross write-offs | 4,730 | |||
Current-period gross write-offs | 2,550 | |||
Current-period gross write-offs | 779 | |||
Current-period gross write-offs | 125 | |||
Current-period gross write-offs | 2,077 | |||
Current-period gross write-offs | 3,018 | |||
Current-period gross write-offs | 89 | |||
Current-period gross write-offs | $ 1,673 | 14,581 | ||
Performing Financial Instruments [Member] | ||||
Total loans | 11,845,859 | 11,637,296 | ||
Nonperforming Financial Instruments [Member] | ||||
Total loans | 34,837 | 21,533 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Originated current year | 108,782 | 347,020 | ||
Originated year two | 322,239 | 457,265 | ||
Originated year three | 439,774 | 362,736 | ||
Originated year four | 351,723 | 168,882 | ||
Originated year five | 155,058 | 110,853 | ||
Originated prior | 279,974 | 186,374 | ||
Revolving | 1,176,120 | 1,190,358 | ||
Revolving converted to term | 432 | 498 | ||
Total loans | 2,834,102 | 2,823,986 | ||
Current-period gross write-offs | 0 | 1,213 | ||
Current-period gross write-offs | 0 | 4,690 | ||
Current-period gross write-offs | 0 | 2,531 | ||
Current-period gross write-offs | 0 | 779 | ||
Current-period gross write-offs | 0 | 4 | ||
Current-period gross write-offs | 1,106 | 2,014 | ||
Current-period gross write-offs | 736 | 1,998 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 1,842 | 13,229 | ||
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Total loans | 2,813,190 | 2,816,599 | ||
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Total loans | 20,912 | 7,387 | ||
Real Estate Portfolio Segment[Member] | ||||
Total loans | 7,439,688 | 7,251,447 | ||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Originated current year | 48,543 | 217,334 | ||
Originated year two | 255,158 | 874,936 | ||
Originated year three | 849,574 | 283,012 | ||
Originated year four | 252,588 | 49,668 | ||
Originated year five | 50,092 | 4,866 | ||
Originated prior | 21,678 | 17,536 | ||
Revolving | 68,975 | 72,156 | ||
Revolving converted to term | 108 | 111 | ||
Total loans | 1,546,716 | 1,519,619 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 0 | 19 | ||
Current-period gross write-offs | 62 | 0 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 5 | 0 | ||
Current-period gross write-offs | 0 | 89 | ||
Current-period gross write-offs | 67 | 0 | 108 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 80,143 | 155,642 | ||
Originated year two | 178,603 | 479,775 | ||
Originated year three | 526,630 | 525,372 | ||
Originated year four | 535,900 | 309,295 | ||
Originated year five | 298,997 | 192,723 | ||
Originated prior | 697,007 | 529,342 | ||
Revolving | 58,928 | 64,170 | ||
Revolving converted to term | 834 | 844 | ||
Total loans | 2,377,042 | 2,257,163 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 8 | 0 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 0 | 117 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 90 | 0 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 98 | 117 | ||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Originated current year | 61,318 | 167,656 | ||
Originated year two | 156,446 | 378,065 | ||
Originated year three | 369,885 | 231,428 | ||
Originated year four | 223,802 | 76,685 | ||
Originated year five | 78,480 | 45,439 | ||
Originated prior | 104,123 | 62,811 | ||
Revolving | 290,834 | 287,854 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 1,284,888 | 1,249,938 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 8 | 40 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 62 | 0 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 1,106 | 14 | ||
Current-period gross write-offs | 831 | 0 | ||
Current-period gross write-offs | 0 | 0 | ||
Current-period gross write-offs | 2,007 | 54 | ||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Originated current year | 82,631 | 162,418 | ||
Originated year two | 156,951 | 1,124,584 | ||
Originated year three | 1,139,978 | 1,106,055 | ||
Originated year four | 1,091,167 | 448,781 | ||
Originated year five | 429,593 | 249,189 | ||
Originated prior | 786,118 | 551,706 | ||
Revolving | 91,073 | 101,366 | ||
Revolving converted to term | 247 | 247 | ||
Total loans | 3,777,758 | 3,744,346 | ||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | ||||
Total loans | 7,425,934 | 7,237,517 | ||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||||
Total loans | 1,546,574 | 1,519,508 | ||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||
Total loans | 2,368,301 | 2,250,074 | ||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||||
Total loans | 1,280,381 | 1,243,603 | ||
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||||
Total loans | 3,777,252 | 3,743,840 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | ||||
Total loans | 13,754 | 13,930 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||||
Total loans | 142 | 111 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||
Total loans | 8,741 | 7,089 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||||
Total loans | 4,507 | 6,335 | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||||
Total loans | 506 | 506 | ||
Consumer Portfolio Segment [Member] | ||||
Originated current year | 1,102 | 22,227 | ||
Originated year two | 21,705 | 3,890 | ||
Originated year three | 3,467 | 4,542 | ||
Originated year four | 4,377 | 1,794 | ||
Originated year five | 1,662 | 1,295 | ||
Originated prior | 3,849 | 2,687 | ||
Revolving | 24,028 | 27,342 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 60,190 | 63,777 | ||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | 4 | |||
Current-period gross write-offs | 49 | |||
Current-period gross write-offs | 1,020 | |||
Current-period gross write-offs | 0 | |||
Current-period gross write-offs | $ 390 | 1,073 | ||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Total loans | 60,161 | 63,672 | ||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Total loans | 29 | 105 | ||
Pass [Member] | ||||
Originated current year | 381,281 | 1,058,567 | ||
Originated year two | 1,077,613 | 3,309,011 | ||
Originated year three | 3,305,644 | 2,493,493 | ||
Originated year four | 2,440,942 | 1,038,868 | ||
Originated year five | 998,871 | 577,813 | ||
Originated prior | 1,800,728 | 1,284,895 | ||
Revolving | 1,673,698 | 1,711,574 | ||
Revolving converted to term | 1,511 | 1,582 | ||
Total loans | 11,680,288 | 11,475,803 | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Originated current year | 107,544 | 341,335 | ||
Originated year two | 316,897 | 455,281 | ||
Originated year three | 437,779 | 354,034 | ||
Originated year four | 344,676 | 162,543 | ||
Originated year five | 149,733 | 100,032 | ||
Originated prior | 234,363 | 151,527 | ||
Revolving | 1,141,682 | 1,161,324 | ||
Revolving converted to term | 430 | 491 | ||
Total loans | 2,733,104 | 2,726,567 | ||
Pass [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Originated current year | 48,543 | 216,745 | ||
Originated year two | 254,568 | 874,903 | ||
Originated year three | 847,543 | 283,012 | ||
Originated year four | 252,588 | 49,668 | ||
Originated year five | 50,092 | 4,866 | ||
Originated prior | 20,705 | 16,558 | ||
Revolving | 68,975 | 72,156 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 1,543,014 | 1,517,908 | ||
Pass [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 80,143 | 148,915 | ||
Originated year two | 171,911 | 478,364 | ||
Originated year three | 517,845 | 517,667 | ||
Originated year four | 528,261 | 300,978 | ||
Originated year five | 290,718 | 181,864 | ||
Originated prior | 669,803 | 512,752 | ||
Revolving | 58,928 | 64,170 | ||
Revolving converted to term | 834 | 844 | ||
Total loans | 2,318,443 | 2,205,554 | ||
Pass [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Originated current year | 61,318 | 166,927 | ||
Originated year two | 155,581 | 376,964 | ||
Originated year three | 369,024 | 228,183 | ||
Originated year four | 220,533 | 75,104 | ||
Originated year five | 77,073 | 40,697 | ||
Originated prior | 97,362 | 61,046 | ||
Revolving | 289,012 | 286,066 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 1,269,903 | 1,234,987 | ||
Pass [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Originated current year | 82,631 | 162,418 | ||
Originated year two | 156,951 | 1,119,609 | ||
Originated year three | 1,129,986 | 1,106,055 | ||
Originated year four | 1,090,507 | 448,781 | ||
Originated year five | 429,593 | 249,059 | ||
Originated prior | 774,646 | 540,325 | ||
Revolving | 91,073 | 100,516 | ||
Revolving converted to term | 247 | 247 | ||
Total loans | 3,755,634 | 3,727,010 | ||
Pass [Member] | Consumer Portfolio Segment [Member] | ||||
Originated current year | 1,102 | 22,227 | ||
Originated year two | 21,705 | 3,890 | ||
Originated year three | 3,467 | 4,542 | ||
Originated year four | 4,377 | 1,794 | ||
Originated year five | 1,662 | 1,295 | ||
Originated prior | 3,849 | 2,687 | ||
Revolving | 24,028 | 27,342 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 60,190 | 63,777 | ||
Special Mention [Member] | ||||
Originated current year | 737 | 10,807 | ||
Originated year two | 7,061 | 4,114 | ||
Originated year three | 16,016 | 15,314 | ||
Originated year four | 7,338 | 15,091 | ||
Originated year five | 13,735 | 13,715 | ||
Originated prior | 27,989 | 11,527 | ||
Revolving | 27,785 | 23,346 | ||
Revolving converted to term | 2 | 7 | ||
Total loans | 100,663 | 93,921 | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Originated current year | 737 | 4,275 | ||
Originated year two | 403 | 1,982 | ||
Originated year three | 1,769 | 5,105 | ||
Originated year four | 4,277 | 5,765 | ||
Originated year five | 4,692 | 1,320 | ||
Originated prior | 6,419 | 3,549 | ||
Revolving | 26,880 | 21,769 | ||
Revolving converted to term | 2 | 7 | ||
Total loans | 45,179 | 43,772 | ||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Originated current year | 0 | 589 | ||
Originated year two | 590 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 0 | 0 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 590 | 589 | ||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 0 | 5,369 | ||
Originated year two | 5,359 | 1,411 | ||
Originated year three | 8,785 | 7,705 | ||
Originated year four | 792 | 8,317 | ||
Originated year five | 8,279 | 8,530 | ||
Originated prior | 15,957 | 7,539 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 39,172 | 38,871 | ||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Originated current year | 0 | 574 | ||
Originated year two | 709 | 721 | ||
Originated year three | 428 | 2,504 | ||
Originated year four | 2,269 | 1,009 | ||
Originated year five | 764 | 3,865 | ||
Originated prior | 4,862 | 439 | ||
Revolving | 905 | 727 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 9,937 | 9,839 | ||
Special Mention [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 0 | ||
Originated year three | 5,034 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 751 | 0 | ||
Revolving | 0 | 850 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 5,785 | 850 | ||
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 0 | 0 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 0 | 0 | ||
Substandard [Member] | Performing Financial Instruments [Member] | ||||
Originated current year | 501 | 2,768 | ||
Originated year two | 2,697 | 5,008 | ||
Originated year three | 6,955 | 2,830 | ||
Originated year four | 7,892 | 368 | ||
Originated year five | 427 | 9,501 | ||
Originated prior | 41,524 | 44,662 | ||
Revolving | 5,293 | 4,621 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 65,289 | 69,758 | ||
Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Originated current year | 155 | |||
Originated year two | 382 | |||
Originated year three | 1,508 | |||
Originated year four | 778 | |||
Originated year five | 3,336 | |||
Originated prior | 9,372 | |||
Revolving | 3,705 | |||
Revolving converted to term | 111 | |||
Total loans | 19,347 | |||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Originated current year | 501 | 1,410 | ||
Originated year two | 1,364 | 0 | ||
Originated year three | 0 | 2,830 | ||
Originated year four | 385 | 368 | ||
Originated year five | 427 | 9,501 | ||
Originated prior | 27,406 | 27,962 | ||
Revolving | 5,176 | 4,360 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 35,259 | 46,431 | ||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 3,575 | 2 | ||
Originated year three | 226 | 767 | ||
Originated year four | 2,385 | 206 | ||
Originated year five | 206 | 0 | ||
Originated prior | 11,786 | 3,336 | ||
Revolving | 2,382 | 2,905 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 20,560 | 7,216 | ||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 33 | ||
Originated year three | 1,997 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 973 | 978 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 2,970 | 1,011 | ||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 0 | 1,358 | ||
Originated year two | 1,333 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 6,847 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 2,506 | 4,292 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 10,686 | 5,650 | ||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 424 | 425 | ||
Revolving | 117 | 261 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 541 | 686 | ||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 4,975 | ||
Originated year three | 4,958 | 0 | ||
Originated year four | 660 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 10,215 | 11,005 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 15,833 | 15,980 | ||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 0 | ||
Originated year three | 34 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 0 | 0 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 108 | 111 | ||
Total loans | 142 | 111 | ||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 2,329 | ||
Originated prior | 8,741 | 4,759 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 8,741 | 7,088 | ||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||||
Originated current year | 0 | 155 | ||
Originated year two | 156 | 380 | ||
Originated year three | 433 | 741 | ||
Originated year four | 1,000 | 572 | ||
Originated year five | 643 | 877 | ||
Originated prior | 1,475 | 901 | ||
Revolving | 800 | 800 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 4,507 | 4,426 | ||
Substandard [Member] | Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 130 | ||
Originated prior | 506 | 376 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 506 | 506 | ||
Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 0 | 0 | ||
Originated year three | 0 | 0 | ||
Originated year four | 0 | 0 | ||
Originated year five | 0 | 0 | ||
Originated prior | 0 | 0 | ||
Revolving | 0 | 0 | ||
Revolving converted to term | 0 | 0 | ||
Total loans | 0 | 0 | ||
Substandard [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Originated current year | 0 | 0 | ||
Originated year two | 3,731 | 0 | ||
Originated year three | 693 | 0 | ||
Originated year four | 3,385 | 0 | ||
Originated year five | 849 | 0 | ||
Originated prior | 22,508 | 0 | ||
Revolving | 3,182 | 0 | ||
Revolving converted to term | 108 | 0 | ||
Total loans | $ 34,456 | $ 0 | ||
[1]derived from audited financial statements. |
Note 5 - Loans - Loans by Perfo
Note 5 - Loans - Loans by Performance Status (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Total loans | $ 11,880,696 | $ 11,658,829 | [1] |
Performing Financial Instruments [Member] | |||
Total loans | 11,845,859 | 11,637,296 | |
Nonperforming Financial Instruments [Member] | |||
Total loans | 34,837 | 21,533 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Total loans | 2,834,102 | 2,823,986 | |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Total loans | 2,813,190 | 2,816,599 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Total loans | 20,912 | 7,387 | |
Real Estate Portfolio Segment[Member] | |||
Total loans | 7,439,688 | 7,251,447 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Total loans | 1,546,716 | 1,519,619 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Total loans | 2,377,042 | 2,257,163 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Total loans | 1,284,888 | 1,249,938 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Total loans | 3,777,758 | 3,744,346 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | |||
Total loans | 7,425,934 | 7,237,517 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | |||
Total loans | 1,546,574 | 1,519,508 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 2,368,301 | 2,250,074 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | |||
Total loans | 1,280,381 | 1,243,603 | |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | |||
Total loans | 3,777,252 | 3,743,840 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | |||
Total loans | 13,754 | 13,930 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | |||
Total loans | 142 | 111 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 8,741 | 7,089 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | |||
Total loans | 4,507 | 6,335 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | |||
Total loans | 506 | 506 | |
Consumer Portfolio Segment [Member] | |||
Total loans | 60,190 | 63,777 | |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Total loans | 60,161 | 63,672 | |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Total loans | $ 29 | $ 105 | |
[1]derived from audited financial statements. |
Note 5 - Loans - Loans Categori
Note 5 - Loans - Loans Categorized by Past Due Status (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Total loans | $ 11,880,696 | $ 11,658,829 | [1] |
Non-accrual | 34,457 | 19,349 | |
Nonaccrual With No ACL | 13,265 | 13,847 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total loans | 14,941 | 4,692 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total loans | 1,572 | 19,406 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total loans | 380 | 2,184 | |
Financial Asset, Past Due [Member] | |||
Total loans | 16,893 | 26,282 | |
Financial Asset, Not Past Due [Member] | |||
Total loans | 11,829,346 | 11,613,198 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Total loans | 2,834,102 | 2,823,986 | |
Non-accrual | 20,561 | 7,217 | |
Nonaccrual With No ACL | 4,479 | 5,028 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total loans | 9,962 | 3,418 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total loans | 444 | 3,718 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total loans | 351 | 170 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Total loans | 10,757 | 7,306 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Total loans | 2,802,784 | 2,809,463 | |
Real Estate Portfolio Segment[Member] | |||
Total loans | 7,439,688 | 7,251,447 | |
Non-accrual | 13,754 | 12,021 | |
Nonaccrual With No ACL | 8,644 | 8,819 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Total loans | 1,546,716 | 1,519,619 | |
Non-accrual | 142 | 111 | |
Nonaccrual With No ACL | 142 | 0 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Total loans | 2,377,042 | 2,257,163 | |
Non-accrual | 8,741 | 7,089 | |
Nonaccrual With No ACL | 6,939 | 7,089 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Total loans | 1,284,888 | 1,249,938 | |
Non-accrual | 4,507 | 4,426 | |
Nonaccrual With No ACL | 1,199 | 1,224 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Total loans | 3,777,758 | 3,744,346 | |
Non-accrual | 506 | 506 | |
Nonaccrual With No ACL | 506 | 506 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total loans | 4,864 | 1,216 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | |||
Total loans | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 1,241 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One to Four Family [Member] | |||
Total loans | 3,623 | 540 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 0 | 676 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total loans | 1,054 | 15,623 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | |||
Total loans | 0 | 34 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 103 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One to Four Family [Member] | |||
Total loans | 951 | 4,920 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 0 | 10,703 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total loans | 0 | 1,909 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | |||
Total loans | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | One to Four Family [Member] | |||
Total loans | 0 | 1,909 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | |||
Total loans | 5,918 | 18,748 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Construction Loans [Member] | |||
Total loans | 0 | 34 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 1,344 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | One to Four Family [Member] | |||
Total loans | 4,574 | 7,369 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 0 | 11,379 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | |||
Total loans | 7,420,016 | 7,220,678 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Construction Loans [Member] | |||
Total loans | 1,546,574 | 1,519,474 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Owner Occupied Commercial [Member] | |||
Total loans | 2,366,957 | 2,250,074 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | One to Four Family [Member] | |||
Total loans | 1,275,807 | 1,238,143 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | Other Mortgages [Member] | |||
Total loans | 3,777,252 | 3,732,461 | |
Consumer Portfolio Segment [Member] | |||
Total loans | 60,190 | 63,777 | |
Non-accrual | 0 | 0 | |
Nonaccrual With No ACL | 0 | 0 | |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total loans | 115 | 58 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total loans | 74 | 31 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total loans | 29 | 105 | |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Total loans | 218 | 194 | |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Total loans | $ 59,972 | $ 63,583 | |
[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 | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |||
Balance | $ 153,317 | [1] | $ 146,297 | $ 146,297 | |
Charge-offs | (2,007) | ||||
Recoveries | 214 | 143 | |||
Provision for credit losses | 4,368 | 4,197 | |||
Balance | 155,892 | 148,964 | 153,317 | [1] | |
Charge-offs | (1,673) | (14,581) | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Charge-offs | (1,842) | (13,229) | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial, Financial, and Agricultural Loans [Member] | |||||
Balance | 52,121 | 42,830 | 42,830 | ||
Charge-offs | (1,842) | ||||
Recoveries | 199 | 128 | |||
Provision for credit losses | 544 | 1,193 | |||
Balance | 51,022 | 42,894 | 52,121 | ||
Charge-offs | (1,257) | ||||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Balance | 44,658 | 42,889 | 42,889 | ||
Charge-offs | 0 | ||||
Recoveries | 0 | 3 | |||
Provision for credit losses | 1,031 | (2,409) | |||
Balance | 45,689 | 40,483 | 44,658 | ||
Charge-offs | (67) | 0 | (108) | ||
Real Estate Portfolio Segment[Member] | Real Estate Loan [Member] | |||||
Balance | 55,126 | 58,652 | 58,652 | ||
Charge-offs | (67) | ||||
Recoveries | 6 | 1 | |||
Provision for credit losses | 2,575 | 4,530 | |||
Balance | 57,640 | 63,157 | 55,126 | ||
Charge-offs | (26) | ||||
Consumer Portfolio Segment [Member] | |||||
Balance | 1,412 | 1,926 | 1,926 | ||
Charge-offs | (98) | ||||
Recoveries | 9 | 11 | |||
Provision for credit losses | 218 | 883 | |||
Balance | $ 1,541 | 2,430 | 1,412 | ||
Charge-offs | $ (390) | $ (1,073) | |||
[1]derived from audited financial statements. |
Note 5 - Loans - Summary of Col
Note 5 - Loans - Summary of Collateral Types (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | |
Financing receivable, gross | $ 11,880,696 | $ 11,658,829 | [1] | ||
Financing Receivable, Allowance for Credit Loss | 155,892 | 153,317 | [1] | $ 148,964 | $ 146,297 |
Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 2,834,102 | 2,823,986 | |||
Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | 7,439,688 | 7,251,447 | |||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | 1,546,716 | 1,519,619 | |||
Financing Receivable, Allowance for Credit Loss | 45,689 | 44,658 | 40,483 | 42,889 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | 2,377,042 | 2,257,163 | |||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Financing receivable, gross | 1,284,888 | 1,249,938 | |||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Financing receivable, gross | 3,777,758 | 3,744,346 | |||
Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | 60,190 | 63,777 | |||
Financing Receivable, Allowance for Credit Loss | 1,541 | 1,412 | $ 2,430 | $ 1,926 | |
Real Estate [Member] | |||||
Financing receivable, gross | 61,435 | 53,205 | |||
Real Estate [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 18,467 | 20,266 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | 40,826 | 32,794 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | 2,142 | 145 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | 19,476 | 12,038 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Financing receivable, gross | 15,542 | 15,694 | |||
Real Estate [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Financing receivable, gross | 5,808 | 5,062 | |||
Real Estate [Member] | Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Collateral, Accounts Receivable [Member] | |||||
Financing receivable, gross | 3,834 | 7,240 | |||
Collateral, Accounts Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 3,834 | 7,240 | |||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Collateral, Accounts Receivable [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Collateral, Accounts Receivable [Member] | Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Equipment [Member] | |||||
Financing receivable, gross | 3,673 | 2,126 | |||
Equipment [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 3,673 | 2,126 | |||
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 | 30,813 | 26,492 | |||
Collateral, Other [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 29,841 | 24,016 | |||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | 0 | 1,498 | |||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | 972 | 978 | |||
Collateral, Other [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | 0 | 698 | |||
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 | 800 | |||
Collateral, Other [Member] | Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Collateral Pledged [Member] | |||||
Financing receivable, gross | 99,755 | 89,063 | |||
Financing Receivable, Allowance for Credit Loss | 17,884 | 18,326 | |||
Collateral Pledged [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | 55,815 | 53,648 | |||
Financing Receivable, Allowance for Credit Loss | 15,495 | 16,189 | |||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | 40,826 | 34,292 | |||
Financing Receivable, Allowance for Credit Loss | 2,389 | 2,136 | |||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | 3,114 | 1,123 | |||
Financing Receivable, Allowance for Credit Loss | 0 | 1 | |||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | 19,476 | 12,736 | |||
Financing Receivable, Allowance for Credit Loss | 241 | 475 | |||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Financing receivable, gross | 15,542 | 15,694 | |||
Financing Receivable, Allowance for Credit Loss | 1,580 | 1,058 | |||
Collateral Pledged [Member] | Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Financing receivable, gross | 5,808 | 5,862 | |||
Financing Receivable, Allowance for Credit Loss | 568 | 603 | |||
Collateral Pledged [Member] | Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | 0 | 0 | |||
Financing Receivable, Allowance for Credit Loss | $ 0 | $ 0 | |||
[1]derived from audited financial statements. |
Note 5 - Loans - Loans Modified
Note 5 - Loans - Loans Modified During Period (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Percentage of total loans | 0.15% | 0.35% |
Extended Maturity [Member] | ||
Modified Amortized Cost | $ 18,379 | $ 39,827 |
Payment Deferral [Member] | ||
Modified Amortized Cost | 0 | 1,060 |
Extended Maturity and Payment Deferral [Member] | ||
Modified Amortized Cost | $ 18,379 | $ 40,886 |
Commercial Real Estate Portfolio Segment [Member] | ||
Percentage of total loans | 0.05% | 0.24% |
Total payment deferral | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||
Modified Amortized Cost | 5,568 | 28,335 |
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 | $ 5,568 | $ 28,335 |
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member] | ||
Term extension (Year) | 1 year | 3 years |
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | ||
Term extension (Year) | 6 years | 12 years |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Percentage of total loans | 0.01% | |
Term extension (Year) | 12 years | 6 years |
Total payment deferral | $ 0 | $ 0 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Percentage of total loans | 0.01% | 0.01% |
Term extension (Year) | 12 years | |
Total payment deferral | $ 0 | $ 49 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Percentage of total loans | 0% | 0% |
Term extension (Year) | 12 years | 3 years |
Total payment deferral | $ 0 | $ 0 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Percentage of total loans | 0.08% | 0.10% |
Term extension (Year) | 11 years | |
Total payment deferral | $ 0 | $ 59 |
Real Estate Portfolio Segment[Member] | Extended Maturity [Member] | Construction Loans [Member] | ||
Modified Amortized Cost | 973 | |
Real Estate Portfolio Segment[Member] | Extended Maturity [Member] | Owner Occupied Commercial [Member] | ||
Modified Amortized Cost | 1,501 | 23 |
Real Estate Portfolio Segment[Member] | Extended Maturity [Member] | One to Four Family [Member] | ||
Modified Amortized Cost | 424 | 214 |
Real Estate Portfolio Segment[Member] | Extended Maturity [Member] | Other Mortgages [Member] | ||
Modified Amortized Cost | 9,913 | 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 | 0 |
Real Estate Portfolio Segment[Member] | Payment Deferral [Member] | Other Mortgages [Member] | ||
Modified Amortized Cost | 0 | 359 |
Real Estate Portfolio Segment[Member] | Extended Maturity and Payment Deferral [Member] | Construction Loans [Member] | ||
Modified Amortized Cost | 973 | |
Real Estate Portfolio Segment[Member] | Extended Maturity and Payment Deferral [Member] | Owner Occupied Commercial [Member] | ||
Modified Amortized Cost | 1,501 | 724 |
Real Estate Portfolio Segment[Member] | Extended Maturity and Payment Deferral [Member] | One to Four Family [Member] | ||
Modified Amortized Cost | 424 | 214 |
Real Estate Portfolio Segment[Member] | Extended Maturity and Payment Deferral [Member] | Other Mortgages [Member] | ||
Modified Amortized Cost | $ 9,913 | $ 11,613 |
Real Estate Portfolio Segment[Member] | Minimum [Member] | Owner Occupied Commercial [Member] | ||
Term extension (Year) | 3 years | |
Real Estate Portfolio Segment[Member] | Minimum [Member] | Other Mortgages [Member] | ||
Term extension (Year) | 3 years | |
Real Estate Portfolio Segment[Member] | Maximum [Member] | Owner Occupied Commercial [Member] | ||
Term extension (Year) | 18 years | |
Real Estate Portfolio Segment[Member] | Maximum [Member] | Other Mortgages [Member] | ||
Term extension (Year) | 36 years |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 15 years | ||
Operating Lease, Right-of-Use Asset | $ 25.3 | $ 26.5 | |
Operating Lease, Liability | $ 26.3 | $ 27.4 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 8 years 2 months 12 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 3.68% | ||
Operating Lease, Payments | $ 1.4 | $ 1.2 |
Note 6 - Leases - Maturities of
Note 6 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
2024 (remaining) | $ 3,872 | |
2025 | 4,933 | |
2026 | 4,106 | |
2027 | 3,537 | |
2028 | 2,684 | |
thereafter | 11,901 | |
Total lease payments | 31,033 | |
Less: imputed interest | (4,689) | |
Present value of operating lease liabilities | 26,300 | $ 27,400 |
Other Liabilities [Member] | ||
Present value of operating lease liabilities | $ 26,344 |
Note 6 - Leases - Lease Costs (
Note 6 - Leases - Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operating lease cost | $ 1,393 | $ 1,230 |
Variable lease cost | 216 | 191 |
Sublease income | (5) | (8) |
Net lease cost | $ 1,604 | $ 1,413 |
Note 7 - Employee and Directo_3
Note 7 - Employee and Director Benefits (Details Textual) - USD ($) | 3 Months Ended | ||
Dec. 31, 2014 | Mar. 31, 2024 | Mar. 31, 2023 | |
Share-Based Payment Arrangement, Expense | $ 958,000 | $ 808,000 | |
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 | $ 35,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month) | 6 months | ||
Restricted Stock [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 5,300,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month) | 1 year 9 months 18 days | ||
Performance Shares [Member] | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 1,200,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month) | 2 years 1 month 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 | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Outstanding, shares (in shares) | 165,800 | 280,000 | 280,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 24.35 | $ 19.43 | $ 19.43 | |
Outstanding, weighted average remaining contractual term (Year) | 2 years 8 months 12 days | 3 years 4 months 24 days | 2 years 10 months 24 days | 3 years |
Outstanding, aggregate intrinsic value | $ 6,744 | $ 7,428 | $ 7,211 | $ 14,088 |
Exercised, shares (in shares) | (8,300) | (75,000) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 15.74 | $ 10.8 | ||
Exercised, weighted average remaining contractual term (Year) | 10 months 24 days | 10 months 24 days | ||
Exercised, aggregate intrinsic value | $ 420 | $ 3,288 | ||
Outstanding, shares (in shares) | 157,500 | 205,000 | 165,800 | 280,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ 24.8 | $ 22.59 | $ 24.35 | $ 19.43 |
Exercisable, shares (in shares) | 140,000 | 152,000 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 22.63 | $ 17.28 | ||
Exercisable, weighted average remaining contractual term (Year) | 2 years 1 month 6 days | 2 years 2 months 12 days | ||
Exercisable, aggregate intrinsic value | $ 6,122 | $ 5,859 |
Note 7 - Employee and Directo_5
Note 7 - Employee and Director Benefits - Summary of Restricted Stock and Performance Shares Activity (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Restricted Stock [Member] | ||
Non-vested, shares (in shares) | 158,298 | 141,580 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 58.08 | $ 56.39 |
Granted, shares (in shares) | 21,835 | 27,258 |
Granted, weighted average grant date fair value (in dollars per share) | $ 67.12 | $ 69.83 |
Additional performance share attainment (in shares) | 0 | |
Additional performance share attainment, weighted average grant date fair value (in dollars per share) | $ 0 | |
Vested, shares (in shares) | (25,107) | (17,521) |
Vested, weighted average grant date fair value (in dollars per share) | $ 48.19 | $ 48.32 |
Forfeited, shares (in shares) | (576) | (6,545) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 71.43 | $ 69.9 |
Non-vested, shares (in shares) | 154,450 | 144,772 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 60.92 | $ 59.29 |
Performance Shares [Member] | ||
Non-vested, shares (in shares) | 31,944 | 23,852 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 58.25 | $ 54.16 |
Granted, shares (in shares) | 8,894 | 8,091 |
Granted, weighted average grant date fair value (in dollars per share) | $ 67.9 | $ 70.29 |
Additional performance share attainment (in shares) | 6,216 | |
Additional performance share attainment, weighted average grant date fair value (in dollars per share) | $ 68.18 | |
Vested, shares (in shares) | (18,653) | 0 |
Vested, weighted average grant date fair value (in dollars per share) | $ 37.05 | $ 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) | 28,401 | 31,943 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 77.37 | $ 58.25 |
Note 8 - Derivatives (Details T
Note 8 - Derivatives (Details Textual) - Interest Rate Cap [Member] - USD ($) $ in Millions | 1 Months Ended | |
May 31, 2020 | Mar. 31, 2023 | |
Derivative, Term of Contract (Year) | 3 years | |
Derivative, Notional Amount | $ 300 | |
Derivative, Cap Interest Rate | 0.50% | |
Derivative, Fair Value, Net | $ 1.2 | |
Derivative, Remaining Maturity (Month) | 1 month |
Note 11 - Fair Value Measurem_3
Note 11 - Fair Value Measurement (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | ||
Asset Impairment Charges | $ 1,100,000 | $ 2,300,000 | ||
Real Estate Owned, Amount of Loss at Acquisition | 95,000 | $ 0 | ||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure | 450,000 | $ 360,000 | ||
Mortgage Loans in Process of Foreclosure, Amount | 547,000 | 292,000 | ||
Liabilities | 14,245,594,000 | 14,689,263,000 | [1] | |
Fair Value, Recurring [Member] | ||||
Liabilities | 0 | |||
Fair Value, Nonrecurring [Member] | ||||
Liabilities | $ 0 | $ 0 | ||
Minimum [Member] | ||||
Impaired Loans, Fair Value Adjustment, Percent | 0% | 0% | ||
Real Estate Owned, Fair Value Adjustment, Percent | 25% | 25% | ||
Maximum [Member] | ||||
Impaired Loans, Fair Value Adjustment, Percent | 68% | 66% | ||
Real Estate Owned, Fair Value Adjustment, Percent | 100% | 100% | ||
Weighted Average [Member] | ||||
Impaired Loans, Fair Value Adjustment, Percent | 24% | 25% | ||
Real Estate Owned, Fair Value Adjustment, Percent | 49.70% | 38.30% | ||
[1]derived from audited financial statements. |
Note 11 - Fair Value Measurem_4
Note 11 - Fair Value Measurement - Financial Assets and Financial Liabilities Carried at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Available for sale, fair value | $ 1,073,929 | $ 900,183 | [1] |
US Treasury Securities [Member] | |||
Available for sale, fair value | 493,969 | 340,807 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 254,915 | 215,485 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 9,958 | 10,223 | |
Corporate Debt Securities [Member] | |||
Available for sale, fair value | 315,086 | 333,667 | |
Fair Value, Recurring [Member] | |||
Available for sale, fair value | 1,073,929 | 900,183 | |
Total assets at fair value | 1,073,929 | 900,183 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available for sale, fair value | 493,969 | 340,807 | |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 254,915 | 215,485 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 9,958 | 10,223 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | 315,086 | 333,668 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | |||
Available for sale, fair value | 493,969 | 340,807 | |
Total assets at fair value | 493,969 | 340,807 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available for sale, fair value | 493,969 | 340,807 | |
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 | 579,959 | 552,516 | |
Total assets at fair value | 579,959 | 552,516 | |
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] | Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale, fair value | 254,915 | 215,485 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, fair value | 9,958 | 10,223 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale, fair value | 315,086 | 326,808 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | |||
Available for sale, fair value | 0 | 6,860 | |
Total assets at fair value | 0 | 6,860 | |
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] | 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 | $ 0 | $ 6,860 | |
[1]derived from audited financial statements. |
Note 11 - Fair Value Measurem_5
Note 11 - Fair Value Measurement - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Loans individually evaluated | $ 81,871 | $ 70,735 |
Other real estate owned and repossessed assets | 490 | 995 |
Total assets at fair value | 82,361 | 71,730 |
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 | 81,871 | 70,735 |
Other real estate owned and repossessed assets | 490 | 995 |
Total assets at fair value | $ 82,361 | $ 71,730 |
Note 11 - Fair Value Measurem_6
Note 11 - Fair Value Measurement - Level 3 of Valuation Hierarchy Measured at Fair Value (Details) - Debt Security, Corporate, US [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Fair value, beginning of period | $ 6,860 | $ 10,860 |
Transfers into Level 3 | 0 | 0 |
Total realized gains included in income | 0 | 0 |
Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end | (1,329) | 160 |
Purchases | 0 | 0 |
Transfers out of Level 3 | (5,531) | (4,160) |
Fair value, end of period | $ 0 | $ 6,860 |
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 | Mar. 31, 2024 | Dec. 31, 2023 | |
Cash and cash equivalents | $ 78,708 | $ 123,430 | [1] |
Held to maturity debt securities, fair value | 785,270 | 907,191 | |
Federal funds sold | 170,625 | 100,575 | [1] |
Mortgage loans held for sale | 7,592 | 5,074 | [1] |
Restricted equity securities | 11,300 | 10,226 | [1] |
Loans, net | 11,724,804 | 11,505,512 | [1] |
Federal funds purchased | 1,345,328 | 1,256,724 | [1] |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Cash and cash equivalents | 1,280,274 | 2,030,513 | |
Held to maturity debt securities, fair value | 393,932 | 508,985 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 1,280,274 | 2,030,513 | |
Held to maturity debt securities, fair value | 368,868 | 484,267 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 473,514 | 473,429 | |
Federal funds sold | 170,625 | 100,575 | |
Mortgage loans held for sale | 7,592 | 5,071 | |
Restricted equity securities | 11,300 | 10,226 | |
Deposits | 12,751,448 | 13,273,511 | |
Federal funds purchased | 1,345,328 | 1,256,724 | |
Other borrowings | 64,737 | 64,735 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 416,152 | 422,674 | |
Federal funds sold | 170,625 | 100,575 | |
Mortgage loans held for sale | 7,592 | 5,071 | |
Restricted equity securities | 11,300 | 10,226 | |
Deposits | 12,743,505 | 13,266,640 | |
Federal funds purchased | 1,345,328 | 1,256,724 | |
Other borrowings | 58,337 | 58,083 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 250 | 250 | |
Loans, net | 11,642,933 | 11,505,512 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Held to maturity debt securities, fair value | 250 | 250 | |
Loans, net | $ 11,195,399 | $ 11,032,819 | |
[1]derived from audited financial statements. |