Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 05, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001499422 | |
Entity Registrant Name | RBB Bancorp | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-38149 | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 27-2776416 | |
Entity Address, Address Line One | 1055 Wilshire Blvd., Suite 1200 | |
Entity Address, City or Town | Los Angeles | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90017 | |
City Area Code | 213 | |
Local Phone Number | 627-9888 | |
Title of 12(b) Security | Common Stock, No Par Value | |
Trading Symbol | RBB | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 19,719,093 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 121,630 | $ 114,763 |
Federal funds sold and other cash equivalents | 57,000 | 67,000 |
Cash and cash equivalents | 178,630 | 181,763 |
Interest-earning deposits in other financial institutions | 600 | 600 |
Securities: | ||
Available for sale | 214,662 | 126,069 |
Held to maturity (fair value of $7,982 and $8,632 at September 30, 2020 and December 31, 2019, respectively) | 7,569 | 8,332 |
Mortgage loans held for sale | 23,886 | 108,194 |
Loans held for investment: | ||
Real estate | 2,328,074 | 1,852,206 |
Commercial and other | 432,498 | 349,391 |
Total loans | 2,760,572 | 2,201,597 |
Unaccreted discount on acquired loans | (3,381) | (5,067) |
Deferred loan (fees) costs, net | (2,038) | 404 |
Total loans, net of deferred loan fees | 2,755,153 | 2,196,934 |
Allowance for loan losses | (26,634) | (18,816) |
Net loans | 2,728,519 | 2,178,118 |
Premises and equipment | 24,237 | 16,813 |
Federal Home Loan Bank (FHLB) stock | 15,641 | 15,000 |
Net deferred tax assets | 1,080 | 2,326 |
Other real estate owned (OREO) | 293 | 293 |
Cash surrender value of life insurance (BOLI) | 34,930 | 34,353 |
Goodwill | 69,243 | 58,563 |
Servicing assets | 14,724 | 17,083 |
Core deposit intangibles | 5,519 | 6,100 |
Accrued interest and other assets | 40,043 | 34,928 |
Total assets | 3,359,576 | 2,788,535 |
Deposits: | ||
Noninterest-bearing demand | 642,332 | 458,763 |
Savings, NOW and money market accounts | 654,378 | 537,490 |
Time deposits under $100,000 | 213,056 | 257,362 |
Time deposits $100,000 and over | 1,101,982 | 995,323 |
Total deposits | 2,611,748 | 2,248,938 |
Reserve for unfunded commitments | 1,129 | 826 |
FHLB advances | 190,000 | 0 |
Long-term debt, net of debt issuance costs | 104,305 | 104,049 |
Subordinated debentures | 14,229 | 9,673 |
Accrued interest and other liabilities | 16,749 | 17,359 |
Total liabilities | 2,938,160 | 2,380,845 |
Commitments and contingencies - Note 13 | 0 | 0 |
Shareholders' equity: | ||
Preferred Stock - 100,000,000 shares authorized, no par value; none outstanding | 0 | 0 |
Common Stock - 100,000,000 shares authorized, no par value; 19,739,280 shares issued and outstanding at September 30, 2020 and 20,030,866 shares issued and outstanding at December 31, 2019 | 286,775 | 290,395 |
Additional paid-in capital | 4,740 | 4,938 |
Retained earnings | 128,814 | 112,046 |
Non-controlling interest | 72 | 72 |
Accumulated other comprehensive income, net | 1,015 | 239 |
Total shareholders’ equity | 421,416 | 407,690 |
Total liabilities and shareholders’ equity | $ 3,359,576 | $ 2,788,535 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Securities held to maturity, fair value | $ 7,982 | $ 8,632 |
Preferred stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Preferred stock, no par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 19,739,280 | 20,030,866 |
Common stock, shares outstanding (in shares) | 19,739,280 | 20,030,866 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 34,153,000 | $ 32,902,000 | $ 99,062,000 | $ 102,981,000 |
Interest on interest-earning deposits | 61,000 | 429,000 | 586,000 | 1,412,000 |
Interest on investment securities | 621,000 | 703,000 | 2,329,000 | 1,976,000 |
Dividend income on FHLB stock | 190,000 | 238,000 | 379,000 | 815,000 |
Interest on federal funds sold and other | 100,000 | 397,000 | 900,000 | 634,000 |
Total interest income | 35,125,000 | 34,669,000 | 103,256,000 | 107,818,000 |
Interest expense: | ||||
Interest on savings deposits, now and money market accounts | 779,000 | 1,117,000 | 2,804,000 | 3,649,000 |
Interest on time deposits | 4,746,000 | 8,038,000 | 17,765,000 | 21,788,000 |
Interest on subordinated debentures and long-term debt | 1,905,000 | 1,921,000 | 5,776,000 | 5,783,000 |
Interest on other borrowed funds | 444,000 | 81,000 | 1,033,000 | 2,857,000 |
Total interest expense | 7,874,000 | 11,157,000 | 27,378,000 | 34,077,000 |
Net interest income | 27,251,000 | 23,512,000 | 75,878,000 | 73,741,000 |
Provision for loan losses | 3,861,000 | 824,000 | 8,815,000 | 1,731,000 |
Net interest income after provision for loan losses | 23,390,000 | 22,688,000 | 67,063,000 | 72,010,000 |
Noninterest income: | ||||
Service charges, fees and other | 1,199,000 | 934,000 | 3,343,000 | 2,976,000 |
Gain on sale of loans | 760,000 | 813,000 | 3,552,000 | 6,131,000 |
Loan servicing fees, net of amortization | 546,000 | 827,000 | 1,846,000 | 2,566,000 |
Recoveries on loans acquired in business combinations | 32,000 | 12,000 | 79,000 | 73,000 |
Unrealized gain on equity investments | (56,000) | 0 | (56,000) | 147,000 |
Increase in cash surrender value of life insurance | 194,000 | 195,000 | 576,000 | 580,000 |
Gain on sale of securities | 52,000 | 7,000 | 210,000 | 7,000 |
Gain on sale of OREO | 0 | 11,000 | 0 | 11,000 |
Gain on sale of fixed assets | 0 | 0 | 0 | 6,000 |
Noninterest Income, Total | 2,727,000 | 2,799,000 | 9,550,000 | 12,497,000 |
Noninterest expense: | ||||
Salaries and employee benefits | 7,599,000 | 7,801,000 | 25,207,000 | 25,088,000 |
Occupancy and equipment expenses | 2,360,000 | 2,434,000 | 7,291,000 | 7,360,000 |
Data processing | 1,200,000 | 974,000 | 3,224,000 | 3,202,000 |
Legal and professional | 675,000 | 435,000 | 1,949,000 | 1,516,000 |
Office expenses | 271,000 | 335,000 | 931,000 | 965,000 |
Marketing and business promotion | 131,000 | 248,000 | 456,000 | 926,000 |
Insurance and regulatory assessments | 363,000 | 172,000 | 774,000 | 754,000 |
Core deposit premium | 357,000 | 384,000 | 1,071,000 | 1,157,000 |
OREO expenses | 3,000 | (1,000) | 31,000 | 161,000 |
Merger and conversion expenses | 62,000 | 154,000 | 741,000 | 240,000 |
Other expenses | 957,000 | 850,000 | 3,385,000 | 2,641,000 |
Noninterest Expense, Total | 13,978,000 | 13,786,000 | 45,060,000 | 44,010,000 |
Income before income taxes | 12,139,000 | 11,701,000 | 31,553,000 | 40,497,000 |
Income tax expense | 3,619,000 | 3,689,000 | 9,772,000 | 11,963,000 |
Net income | $ 8,520,000 | $ 8,012,000 | $ 21,781,000 | $ 28,534,000 |
Net income per share | ||||
Basic (in dollars per share) | $ 0.43 | $ 0.40 | $ 1.10 | $ 1.42 |
Diluted (in dollars per share) | 0.43 | 0.39 | 1.09 | 1.40 |
Cash dividends declared per common share (in dollars per share) | $ 0.06 | $ 0.10 | $ 0.24 | $ 0.30 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income | $ 8,520 | $ 8,012 | $ 21,781 | $ 28,534 |
Other comprehensive income: | ||||
Unrealized gains on securities available for sale, Change in unrealized gains | (106) | 494 | 1,311 | 2,380 |
Unrealized gains on securities available for sale, Reclassification of gains recognized in net income | (52) | (7) | (210) | (7) |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, before Tax, Total | (158) | 487 | 1,101 | 2,373 |
Related income tax effect, Change in unrealized gains | 32 | (148) | (387) | (706) |
Related income tax effect, Reclassification of gains recognized in net income | 15 | 2 | 62 | 2 |
Related income tax effect | 47 | (146) | (325) | (704) |
Total other comprehensive income | (111) | 341 | 776 | 1,669 |
Total comprehensive income | $ 8,409 | $ 8,353 | $ 22,557 | $ 30,203 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 20,000,022 | |||||
Balance at Dec. 31, 2018 | $ 288,610 | $ 5,659 | $ 81,618 | $ 72 | $ (1,338) | $ 374,621 |
Net income | 0 | 0 | 28,534 | 0 | 0 | 28,534 |
Stock-based compensation | 0 | 543 | 0 | 0 | 0 | 543 |
Cash dividend | 0 | 0 | (6,030) | 0 | 0 | (6,030) |
Other comprehensive income, net of taxes | $ 0 | 0 | 0 | 0 | 1,669 | 1,669 |
Stock options exercised, net of expense recognized (in shares) | 200,629 | |||||
Stock options exercised, net of expense recognized | $ 2,694 | 0 | 0 | 0 | 0 | 2,694 |
Repurchase of common stock (in shares) | (169,785) | |||||
Repurchase of common stock | $ (2,442) | 0 | (748) | 0 | 0 | (3,190) |
Balance (in shares) at Sep. 30, 2019 | 20,030,866 | |||||
Balance at Sep. 30, 2019 | $ 288,862 | 6,202 | 103,374 | 72 | 331 | 398,841 |
Balance (in shares) at Dec. 31, 2018 | 20,000,022 | |||||
Balance at Dec. 31, 2018 | $ 288,610 | 5,659 | 81,618 | 72 | (1,338) | $ 374,621 |
Stock options exercised, net of expense recognized (in shares) | 200,629 | |||||
Balance (in shares) at Dec. 31, 2019 | 20,030,866 | 20,030,866 | ||||
Balance at Dec. 31, 2019 | $ 290,395 | 4,938 | 112,046 | 72 | 239 | $ 407,690 |
Balance (in shares) at Jun. 30, 2019 | 20,077,524 | |||||
Balance at Jun. 30, 2019 | $ 289,577 | 6,055 | 98,126 | 72 | (10) | 393,820 |
Net income | 0 | 0 | 8,012 | 0 | 0 | 8,012 |
Stock-based compensation | 0 | 147 | 0 | 0 | 0 | 147 |
Cash dividend | 0 | 0 | (2,016) | 0 | 0 | (2,016) |
Other comprehensive income, net of taxes | $ 0 | 0 | 0 | 0 | 341 | 341 |
Stock options exercised, net of expense recognized (in shares) | 123,127 | |||||
Stock options exercised, net of expense recognized | $ 1,727 | 0 | 0 | 0 | 0 | 1,727 |
Repurchase of common stock (in shares) | (169,785) | |||||
Repurchase of common stock | $ (2,442) | 0 | (748) | 0 | 0 | (3,190) |
Balance (in shares) at Sep. 30, 2019 | 20,030,866 | |||||
Balance at Sep. 30, 2019 | $ 288,862 | 6,202 | 103,374 | 72 | 331 | $ 398,841 |
Balance (in shares) at Dec. 31, 2019 | 20,030,866 | 20,030,866 | ||||
Balance at Dec. 31, 2019 | $ 290,395 | 4,938 | 112,046 | 72 | 239 | $ 407,690 |
Net income | 0 | 0 | 21,781 | 0 | 0 | 21,781 |
Stock-based compensation | 0 | 493 | 0 | 0 | 0 | 493 |
Cash dividend | $ 0 | 0 | (4,782) | 0 | 0 | (4,782) |
Restricted stock vested (in shares) | 0 | |||||
Restricted stock vested | $ 425 | (425) | 0 | |||
Other comprehensive income, net of taxes | $ 0 | 0 | 0 | 0 | 776 | $ 776 |
Stock options exercised, net of expense recognized (in shares) | 56,498 | 56,498 | ||||
Stock options exercised, net of expense recognized | $ 978 | (266) | 0 | 0 | 0 | $ 712 |
Repurchase of common stock (in shares) | (348,084) | |||||
Repurchase of common stock | $ (5,023) | 0 | (231) | 0 | 0 | $ (5,254) |
Balance (in shares) at Sep. 30, 2020 | 19,739,280 | 19,739,280 | ||||
Balance at Sep. 30, 2020 | $ 286,775 | 4,740 | 128,814 | 72 | 1,015 | $ 421,416 |
Balance (in shares) at Jun. 30, 2020 | 19,739,280 | |||||
Balance at Jun. 30, 2020 | $ 286,350 | 4,999 | 121,478 | 72 | 1,126 | 414,025 |
Net income | 0 | 0 | 8,520 | 0 | 0 | 8,520 |
Stock-based compensation | 0 | 166 | 0 | 0 | 0 | 166 |
Cash dividend | $ 0 | 0 | (1,184) | 0 | 0 | (1,184) |
Restricted stock vested (in shares) | 0 | |||||
Restricted stock vested | $ 425 | (425) | 0 | 0 | 0 | 0 |
Other comprehensive income, net of taxes | $ 0 | 0 | 0 | 0 | (111) | $ (111) |
Balance (in shares) at Sep. 30, 2020 | 19,739,280 | 19,739,280 | ||||
Balance at Sep. 30, 2020 | $ 286,775 | $ 4,740 | $ 128,814 | $ 72 | $ 1,015 | $ 421,416 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Operating activities | |||||
Net income | $ 8,520,000 | $ 8,012,000 | $ 21,781,000 | $ 28,534,000 | |
Adjustments to reconcile net income to net cash from Operating activities: | |||||
Depreciation and amortization of premises, and equipment | 1,535,000 | 1,451,000 | |||
Net accretion of securities, loans, deposits, and other | (2,827,000) | (2,537,000) | |||
Unrealized loss (gain) on equity securities | 56,000 | 0 | 56,000 | (147,000) | |
Amortization of investment in affordable housing tax credits | 740,000 | 675,000 | |||
Amortization of intangible assets | 4,141,000 | 3,637,000 | |||
Impairment loss on mortgage servicing rights | 415,000 | 0 | |||
Provision for loan losses | 3,861,000 | 824,000 | 8,815,000 | 1,731,000 | $ 2,390,000 |
Stock-based compensation | 493,000 | 543,000 | |||
Deferred tax benefit | (1,441,000) | (438,000) | |||
Gain on sale of securities | (52,000) | (7,000) | (210,000) | (7,000) | |
Gain on sale of loans | (760,000) | (813,000) | (3,552,000) | (6,131,000) | |
Gain on sale of OREO | 0 | (11,000) | 0 | (11,000) | |
Gain on sale of fixed assets | 0 | (6,000) | |||
Increase in cash surrender value of life insurance | (576,000) | (580,000) | |||
Loans originated and purchased for sale | (82,051,000) | (102,887,000) | |||
Proceeds from loans sold | 141,226,000 | 347,623,000 | |||
Other items | (8,414,000) | (4,469,000) | |||
Net cash provided by operating activities | 80,131,000 | 266,981,000 | |||
Investing activities | |||||
Increase in interest-earning deposits | 0 | (349,000) | |||
Securities available for sale: | |||||
Purchases | (499,116,000) | (112,656,000) | |||
Maturities, prepayments and calls | 400,844,000 | 109,977,000 | |||
Sales | 3,800,000 | 11,661,000 | 6,136,000 | ||
Securities held to maturity: | |||||
Maturities, prepayments and calls | 745,000 | 1,205,000 | |||
Redemption of Federal Home Loan Bank stock | 0 | 1,751,000 | |||
Purchase of Federal Home Loan Bank stock and other equity securities, net | (95,000) | (8,641,000) | |||
Purchase of investment in qualified affordable housing projects | (2,230,000) | 0 | |||
Net increase in loans | (356,142,000) | (45,735,000) | |||
Proceeds from sales of OREO | 0 | 819,000 | |||
Net cash received in connection with acquisition | 6,634,000 | 0 | |||
Proceeds from sale of fixed assets | 0 | 17,000 | |||
Purchases of premises and equipment | (881,000) | (954,000) | |||
Net cash used in investing activities | (438,580,000) | (48,430,000) | |||
Financing activities | |||||
Net increase (decrease) in demand deposits and savings accounts | 112,096,000 | (77,905,000) | |||
Net increase in time deposits | 62,544,000 | 185,771,000 | |||
Net decrease in short-term FHLB advances | 0 | (284,500,000) | |||
Advances of long-term FHLB debt | 190,000,000 | 0 | |||
Cash dividends paid | (4,782,000) | (6,030,000) | |||
Common stock repurchased, net of repurchased costs | (5,254,000) | (3,190,000) | |||
Exercise of stock options | 712,000 | 2,694,000 | 2,800,000 | ||
Net cash provided by (used in) financing activities | 355,316,000 | (183,160,000) | |||
Net (decrease) increase in cash and cash equivalents | (3,133,000) | 35,391,000 | |||
Cash and cash equivalents at beginning of period | 181,763,000 | 147,685,000 | 147,685,000 | ||
Cash and cash equivalents at end of period | $ 178,630,000 | $ 183,076,000 | 178,630,000 | 183,076,000 | $ 181,763,000 |
Cash paid during the period: | |||||
Interest paid | 26,911,000 | 24,600,000 | |||
Taxes paid | 9,645,000 | 13,010,000 | |||
Non-cash investing and financing activities: | |||||
Transfer from loans to other real estate owned | 0 | 974,000 | |||
(Transfer from) transfer to loans held for sale, net | (28,685,000) | 63,422,000 | |||
Loan to facilitate OREO | 1,015,000 | 0 | |||
Net change in unrealized holding gain on securities available for sale | 776,000 | 1,669,000 | |||
Additions to servicing assets | 1,125,000 | 2,290,000 | |||
Acquisition: | |||||
Assets acquired, net of cash received | 183,281,000 | 0 | |||
Liabilities assumed | 200,210,000 | 0 | |||
Cash considerations | 32,885,000 | 0 | |||
Goodwill | $ 10,680,000 | $ 0 |
Note 1 - Business Description
Note 1 - Business Description | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1 RBB Bancorp (“RBB”) is a financial holding company registered under the Bank Holding Company Act of 1956, At September 30, 2020, The Bank provides business banking services to the Chinese-American communities in Los Angeles County, Orange County, Ventura County, Las Vegas, the New York City metropolitan area and the Chicago metropolitan area, including remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, Small Business Administration (“SBA”) 7A 504 The Company operates full-service banking offices in Arcadia, Cerritos, Diamond Bar, Irvine, Los Angeles, Monterey Park, Oxnard, Rowland Heights, San Gabriel, Silver Lake, Torrance, and Westlake Village, California; Las Vegas, Nevada; Manhattan, Brooklyn, Flushing, and Elmhurst, New York; and the Bridgeport and Chinatown areas of Chicago, Illinois. The Company’s primary source of revenue is providing loans to customers, who are predominantly small and middle-market businesses and individuals. The Company generates its revenue primarily from interest received on loans and leases and, to a lesser extent, from interest received on investment securities. The Company also derives income from noninterest sources, such as fees received in connection with various lending and deposit services, residential mortgage loan originations, loan servicing, gain on sales of loans and wealth management services. The Company’s principal expenses include interest expense on deposits and subordinated debentures, and operating expenses, such as salaries and employee benefits, occupancy and equipment, data processing, and income tax expense. The Company has completed six acquisitions from July 8, 2011 January 10, 2020, January 10, 2020. 3 |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 2 Basis of Presentation The accompanying unaudited consolidated financial statements and notes thereto of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for Form 10 three nine September 30, 2020 not December 31, 2019, 10 December 31, 2019 ( “2019 Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. It is reasonably possible our estimate of the allowance for loan losses and the fair value of mortgage servicing rights could change as actual results could differ from those estimates. Actual results could differ from those estimates. Summary of Significant Accounting Policies The accompanying unaudited consolidated financial statements were compiled in accordance with the accounting policies set forth in Note 2 December 31, 2019, 2019 Recent Accounting Pronouncements When RBB conducted its initial public offering (“IPO”) in 2017, $1.0 fifth three $1.0 1934, no December 31, 2022 1933, In February 2016, 2016 02, Leases (Topic 842 not 12 2020 05, December 15, 2021, December 15, 2022. not December 31 202 2 December 15, 2018, In June 2016, 2016 13, Measurement of Credit Losses on Financial Instrument (Topic 326 1 2 not 2016 13 2016 13 December 15, 2020 ( first 2016 13. 2016 13 2016 13 December 31, 2022. In February 2019, three one 2016 13. March 2020, two five 2019 19" five In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 2 2 not not 2017 04 December 15, 20 19 December 31, 2022. 2017 04 not In March 2017, 2017 08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2020 December 15, 2019. 2017 08 not In June 2018, 2018 07, Compensation—Stock Compensation (Topic 718 718 718 718 718 not 1 2 606, December 15, 2019, December 15, 2020. January 1, 2020 not In August 2018, 2018 13, Fair Value Measurement (Topic 820 F air Value Measurement 820, 1 1 2 2 3 3 1 2 1 3 2 3 may 3 at a minimum December 15, 2019. 3 January 1, 2020 not In August 2018, 2018 15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350 40 2015 05, 350 40 December 15, 2020, December 15, 2021. not In November 2019, 2019 08, Compensation—Stock Compensation (Topic 718 606 June 2018, 2018 07 718, 606, not 718. 2019 08 not 2018 07, 2019 08 December 15, 2019, December 15, 2020. December 31, 2019 not not In January 2020, 2020 01, 321 323 815 321 not December 15, 2021, In February 2020, 2020 02, 326 842 No. 119 No. 2016 02, 842 December 31, 2022. In March 2020, 2020 03, 1 2 3 820, 4 326, 5 860 20, 326. 1, 2, 4 5 December 15, 2019, December 15, 2020. 3 2019 04. In March 2020, 2020 04, 848 December 31, 2022). one may January 1, 2020. 1 March 12, 2020 ( January 1, 2020 2 3 one may March 12, 2020. not December 31, 2022. December 31, 2022. $2.8 September 30, 2020, 15% 9 10 10 In June 2020, 2020 05, 606 842 606 842 606 842 January 1, 2022. |
Note 3 - Acquisition
Note 3 - Acquisition | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 3 PGB Holdings, Inc. Acquisition: On January 10, 2020, not two not The following table represents the assets acquired and liabilities assumed of PGBH as of January 10, 2020 2020 PGBH Fair Value Fair (dollars in thousands) Book Value Adjustments Value Assets acquired Cash and cash equivalents $ 17,033 $ — $ 17,033 Fed funds sold 8,300 — 8,300 Interest-bearing deposits in other financial Institutions 14,186 — 14,186 Investments - held to maturity — — — Investments - available for sale — — — Mortgage loans held for sale — — — Loans, gross 172,443 666 173,109 Allowance for loan losses (2,265 ) 2,265 — Bank premises and equipment 6,394 1,639 8,033 Mortgage servicing rights — — — Core deposit premium — 491 491 Investment in trust 155 — 155 Other assets 1,687 (194 ) 1,493 Total assets acquired $ 217,933 $ 4,867 $ 222,800 Liabilities assumed Deposits $ 187,393 $ 969 $ 188,362 Escrow Payable 4,277 — 4,277 Subordinated debentures 5,155 (763 ) 4,392 Deferred income taxes 1,016 1,721 2,737 Other liabilities 1,211 (384 ) 827 Total liabilities assumed 199,052 1,543 200,595 Excess of assets acquired over liabilities assumed 18,881 3,324 22,205 $ 217,933 $ 4,867 Cash paid 32,885 Goodwill recognized $ 10,680 The fair values are estimates and are subject to adjustment for up to one The Company accounted for these transactions under the acquisition method of accounting in accordance with ASC 805, The loan portfolio of PGBH was recorded at fair value at the date of acquisition with the assistance of a third two The Company also determined the fair value of the core deposit intangible, securities and deposits with the assistance of third The core deposit intangible on non-maturing deposits was determined by evaluating the underlying characteristics of the deposit relationships, including customer attrition, deposit interest rates, service charge income, overhead expense and costs of alternative funding. Since the fair value of intangible assets are calculated as if they were stand-alone assets, the presumption is that a hypothetical buyer of the intangible asset would be able to take advantage of potential tax benefits resulting from the asset purchase. The value of the benefit is the present value over the period of the tax benefit, using the discount rate applicable to the asset. In determining the fair value of certificates of deposit, a discounted cash flow analysis was used, which involved present valuing the contractual payments over the remaining life of the certificates of deposit at market-based interest rates. For loans acquired from PGBH, the contractual amounts due, expected cash flows to be collected, interest component and fair value as of the respective acquisition dates were as follows: PGBH Acquired Loans Contractual amounts due $ 195,227 Cash flows not expected to be collected 5,176 Expected cash flows 190,051 Interest component of expected cash flows 16,942 Fair value of acquired loans $ 173,109 The operating results of the Company for the nine September 30, 2020 January 1, 2020. no Three Months Ended Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Net interest and other income $ 29,978 $ 28,715 $ 85,662 $ 92,856 Net income 8,520 8,531 20,615 30,432 Basic earnings per share 0.43 0.43 1.04 1.52 Diluted earnings per share 0.43 0.42 1.03 1.49 Third-party acquisition related expenses are recognized as incurred and continue until the acquired system is converted and operational functions become fully integrated. The Company incurred third |
Note 4 - Investment Securities
Note 4 - Investment Securities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4 The following table summarizes the amortized cost and fair value of available for sale (“AFS”) securities and held to maturity (“HTM”) securities as of September 30, 2020 December 31, 2019, Gross Gross (dollars in thousands) Amortized Unrealized Unrealized Fair September 30, 2020 Cost Gains Losses Value Available for sale Government agency securities $ 1,258 $ 30 $ — $ 1,288 SBA agency securities 4,262 253 — 4,515 Mortgage-backed securities- Government sponsored agencies 17,530 294 (6 ) 17,818 Collateralized mortgage obligations 45,948 479 (91 ) 46,336 Commercial paper 109,188 — — 109,188 Corporate debt securities 33,412 560 (42 ) 33,930 Municipal securities 1,623 — (36 ) 1,587 Total $ 213,221 $ 1,616 $ (175 ) $ 214,662 Held to maturity Municipal taxable securities $ 2,797 $ 156 $ — $ 2,953 Municipal securities 4,772 257 — 5,029 Total $ 7,569 $ 413 $ — $ 7,982 December 31, 2019 Available for sale Government agency securities $ 1,591 $ — $ (19 ) $ 1,572 SBA agency securities 4,671 42 (22 ) 4,691 Mortgage-backed securities- Government sponsored agencies 19,126 74 (29 ) 19,171 Collateralized mortgage obligations 11,641 38 (25 ) 11,654 Corporate debt securities 88,700 281 — 88,981 Total $ 125,729 $ 435 $ (95 ) $ 126,069 Held to maturity Municipal taxable securities $ 3,505 $ 147 $ — $ 3,652 Municipal securities 4,827 153 — 4,980 Total $ 8,332 $ 300 $ — $ 8,632 One security with a fair value of $ 418,000 and $627,000 at September 30, 2020 December 31, 2019, Proceeds of $3.8 million and $11.7 million were received from the sale of investment securities during the three nine September 30, 2020, $6.1 three nine September, 30 2019. three nine September 30, 2020, three nine September 30, 2019. The amortized cost and fair value of the investment securities portfolio at September 30, 2020 December 31, 2019 may Less than One Year More than One Year to Five Years More than Five Years to Ten Years More than Ten Years Total Amortized Estimated Amortized Estimated Amortized Estimated Amortized Estimated Amortized Estimated (dollars in thousands) Cost Fair Value Cost Fair Value Cost Fair Value Cost Fair Value Cost Fair Value September 30, 2020 Government agency securities $ — $ — $ 1,258 $ 1,288 $ — $ — $ — $ — $ 1,258 $ 1,288 SBA securities — — 596 629 3,666 3,886 — — 4,262 4,515 Mortgage-backed securities- Government sponsored agencies 3,010 3,014 14,520 14,804 — — — — 17,530 17,818 Collateralized mortgage obligations — — 13,895 14,274 32,053 32,062 — — 45,948 46,336 Commercial paper 109,188 109,188 — — — — — — 109,188 109,188 Corporate debt securities 2,001 2,031 14,668 14,742 12,743 13,159 4,000 3,998 33,412 33,930 Municipal securities — — — — — — 1,623 1,587 1,623 1,587 Total available for sale $ 114,199 $ 114,233 $ 44,937 $ 45,737 $ 48,462 $ 49,107 $ 5,623 $ 5,585 $ 213,221 $ 214,662 Municipal taxable securities $ 979 $ 998 $ 1,818 $ 1,955 $ — $ — $ — $ — $ 2,797 $ 2,953 Municipal securities — — — — 874 922 3,898 4,107 4,772 5,029 Total held to maturity $ 979 $ 998 $ 1,818 $ 1,955 $ 874 $ 922 $ 3,898 $ 4,107 $ 7,569 $ 7,982 December 31, 2019 Government agency securities $ — $ — $ 1,591 $ 1,572 $ — $ — $ — $ — $ 1,591 $ 1,572 SBA securities — — 714 725 3,957 3,966 — — 4,671 4,691 Mortgage-backed securities- Government sponsored agencies 3,663 3,679 13,027 13,059 2,436 2,433 — — 19,126 19,171 Collateralized mortgage obligations — — 9,288 9,265 2,353 2,389 — — 11,641 11,654 Corporate debt securities 70,914 70,919 2,002 2,008 11,772 12,024 4,012 4,030 88,700 88,981 Total available for sale $ 74,577 $ 74,598 $ 26,622 $ 26,629 $ 20,518 $ 20,812 $ 4,012 $ 4,030 $ 125,729 $ 126,069 Municipal taxable securities $ 285 $ 289 $ 2,716 $ 2,784 $ 504 $ 579 $ — $ — $ 3,505 $ 3,652 Municipal securities — — 40 40 366 379 4,421 4,561 4,827 4,980 Total held to maturity $ 285 $ 289 $ 2,756 $ 2,824 $ 870 $ 958 $ 4,421 $ 4,561 $ 8,332 $ 8,632 The following table summarizes investment securities with unrealized losses at September 30, 2020 December 31, 2019, Less than Twelve Months Twelve Months or More Total Unrealized Estimated No. of Unrealized Estimated No. of Unrealized Estimated No. of (dollars in thousands) Losses Fair Value Issuances Losses Fair Value Issuances Losses Fair Value Issuances September 30, 2020 Mortgage-backed securities- Government sponsored agencies (6 ) 9,998 2 — — — (6 ) 9,998 2 Collateralized mortgage obligations (91 ) 29,260 6 (91 ) 29,260 6 Corporate debt securities (42 ) 5,958 4 — — — (42 ) 5,958 4 Municipal securities (36 ) 1,587 3 (36 ) 1,587 3 Total available for sale $ (175 ) $ 46,803 15 $ — $ — — $ (175 ) $ 46,803 $ 15 Total held to maturity $ — $ — — $ — $ — — $ — $ — — December 31, 2019 Government agency securities $ (19 ) $ 1,572 2 $ — $ — — $ (19 ) $ 1,572 2 SBA securities (22 ) 1,469 2 — — — (22 ) 1,469 2 Mortgage-backed securities- Government sponsored agencies (5 ) 2,631 4 (24 ) 3,912 6 (29 ) 6,543 10 Collateralized mortgage obligations (10 ) 5,738 3 (15 ) 953 2 (25 ) 6,691 5 Total available for sale $ (56 ) $ 11,410 11 $ (39 ) $ 4,865 8 $ (95 ) $ 16,275 19 Total held to maturity $ — $ — — $ — $ — — $ — $ — — Unrealized losses have not not not not Management evaluates securities for other-than-temporary impairment (“OTTI”) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not Equity Securities three nine September 30, 2020, three nine September 30, 2019, no September 30, 2020 $11.8 December 31, 2019. |
Note 5 - Loans and Allowance fo
Note 5 - Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 The Company's loan portfolio consists primarily of loans to borrowers within the Southern California metropolitan area, the New York City metropolitan area, the Chicago, Illinois metropolitan area and Las Vegas, Nevada. Although the Company seeks to avoid concentrations of loans to a single industry or based upon a single class of collateral, real estate and real estate associated businesses are among the principal industries in the Company's market area and, as a result, the Company's loan and collateral portfolios are, to some degree, concentrated in those industries. The following tables present the balance and activity related to the allowance for loan losses for held for investment loans by type for the periods presented. Three Months Ended September 30, 2020 2019 (dollars in thousands) Real Estate Commercial Other Unallocated Total Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning balance $ 18,985 $ 3,813 $ 22 $ — $ 22,820 $ 14,582 $ 3,976 $ 3 $ — $ 18,561 Additions (reductions) to the allowance charged to expense 2,858 990 13 — 3,861 558 25 3 238 824 Charge-offs on loans — (48 ) — — (48 ) — — — — — Recoveries on loans — 1 — — 1 — 1 — — 1 Ending balance $ 21,843 $ 4,756 $ 35 $ — $ 26,634 $ 15,140 $ 4,002 $ 6 $ 238 $ 19,386 Nine Months Ended September 30, 2020 2019 (dollars in thousands) Real Estate Commercial Other Unallocated Total Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning of year $ 15,118 $ 3,588 $ 9 $ 101 $ 18,816 $ 13,437 $ 4,140 $ — $ — $ 17,577 Additions (reductions) to the allowance charged to expense 6,725 2,165 26 (101 ) 8,815 1,703 (216 ) 6 238 1,731 Charge-offs on loans — (998 ) — — (998 ) — 110 — — 110 Recoveries on loans — 1 — — 1 — (32 ) — — (32 ) Ending balance $ 21,843 $ 4,756 $ 35 $ — $ 26,634 $ 15,140 $ 4,002 $ 6 $ 238 $ 19,386 For the year end December 31, 2019 (dollars in thousands) Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning of year $ 13,437 $ 4,140 $ — $ — $ 17,577 Additions (reductions) to the allowance charged to expense 1,847 433 9 101 2,390 Charge-offs on loans (166 ) (1,093 ) — — (1,259 ) Recoveries on loans — 108 — — 108 Ending balance $ 15,118 $ 3,588 $ 9 $ 101 $ 18,816 The following table presents the recorded investment in loans and impairment method as of September 30, 2020, September 30, 2019, December 31, 2019, (dollars in thousands) September 30, 2020 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ 436 $ — $ — $ 436 General 21,843 4,320 35 — 26,198 Total allowance for loan losses $ 21,843 $ 4,756 $ 35 $ — $ 26,634 Loans evaluated for impairment: Individually $ 6,119 $ 11,842 $ 15 $ — $ 17,976 Collectively 2,316,619 417,242 3,316 — 2,737,177 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 2,322,738 $ 429,084 $ 3,331 $ — $ 2,755,153 September 30, 2019 Real Estate Commercial Other Unallocated Total Reserves: Specific $ 127 $ 303 $ — $ — $ 430 General 15,013 3,699 6 238 18,956 Total allowance for loan losses $ 15,140 $ 4,002 $ 6 238 19,386 Loans evaluated for impairment: Individually $ 4,537 $ 5,091 $ — $ — $ 9,628 Collectively 1,773,616 342,365 536 — 2,116,517 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 1,778,153 $ 347,456 $ 536 $ — $ 2,126,145 December 31, 2019 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ — $ — $ — $ — General 15,118 3,588 9 101 18,816 Total allowance for loan losses $ 15,118 $ 3,588 $ 9 $ 101 $ 18,816 Loans evaluated for impairment: Individually $ 3,795 $ 9,423 $ — $ — $ 13,218 Collectively 1,842,747 340,148 821 — 2,183,716 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 1,846,542 $ 349,571 $ 821 $ — $ 2,196,934 The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, collateral adequacy, credit documentation, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis typically includes larger, non-homogeneous loans such as commercial real estate and commercial and industrial loans. This analysis is performed on an ongoing basis as new information is obtained. The Company uses the following definitions for risk ratings: Pass not Special Mention may Substandard not Impaired The risk category of loans by class of loans was as follows at September 30, 2020 December 31, 2019: (dollars in thousands) Special September 30, 2020 Pass Mention Substandard Impaired Total (1) Real estate: Construction and land development $ 182,808 $ — $ — $ 761 $ 183,569 Commercial real estate 913,868 5,980 52,728 2,611 975,187 Single-family residential mortgages 1,158,935 2,083 217 2,747 1,163,982 Commercial: Other 308,412 — 7,354 2,125 317,891 SBA 97,010 187 4,279 9,717 111,193 Other: 3,316 — — 15 3,331 Total loans $ 2,664,349 $ 8,250 $ 64,578 $ 17,976 $ 2,755,153 (dollars in thousands) Special December 31, 2019 Pass Mention Substandard Impaired Total(1) Real estate: Construction and land development $ 95,756 $ — $ — $ 264 $ 96,020 Commercial real estate 767,603 5,353 18,115 2,197 793,268 Single-family residential mortgages 955,327 — 593 1,334 957,254 Commercial: Other 265,178 4,078 5,330 — 274,586 SBA 61,496 189 3,877 9,423 74,985 Other: 821 — — — 821 Total loans $ 2,146,181 $ 9,620 $ 27,915 $ 13,218 $ 2,196,934 ( 1 Loans, net of deferred fees The following table presents the aging of the recorded investment in past-due loans at September 30, 2020 December 31, 2019 (dollars in thousands) 30 59 60 89 90 Days Total Loans Not Total Non-Accrual September 30, 2020 Days Days Or More Past Due Past Due Loans Loans (1) Real estate: Construction and land development $ — $ 400 $ 361 $ 761 $ 182,808 $ 183,569 $ 761 Commercial real estate 7,578 11,791 1,168 20,537 954,650 975,187 1,168 Single-family residential mortgages 2,408 791 799 3,998 1,159,984 1,163,982 2,747 Commercial: Other — — 882 882 317,009 317,891 1,622 SBA — 37 9,680 9,717 101,476 111,193 9,680 Other: 12 — 15 27 3,304 3,331 15 $ 9,998 $ 13,019 $ 12,905 $ 35,922 $ 2,719,231 $ 2,755,153 $ 15,993 30 59 60 89 90 Days Total Loans Not Total Non-Accrual December 31, 2019 Days Days Or More Past Due Past Due Loans Loans (1) Real estate: Construction and land development $ — $ — $ — $ — $ 96,020 $ 96,020 $ — Commercial real estate — — 725 725 792,543 793,268 725 Single-family residential mortgages 1,454 1,560 450 3,464 953,790 957,254 1,334 Commercial: Other — — — — 274,586 274,586 — SBA 2,263 — 9,378 11,641 63,344 74,985 9,378 Other: — — — — 821 821 — $ 3,717 $ 1,560 $ 10,553 $ 15,830 $ 2,181,104 $ 2,196,934 $ 11,437 ( 1 Included in total loans. The Company has no 90 September 30, 2020 December 31, 2019. Information relating to individually impaired loans presented by class of loans was as follows at September 30, 2020 December 31, 2019: (dollars in thousands) Principal Recorded Related September 30, 2020 Balance Investment Allowance With no related allowance recorded Construction and land development $ 761 $ 761 $ — Commercial and industrial 1,764 1,713 Commercial real estate 2,611 2,611 — Residential mortgage loans 2,846 2,747 — Commercial – SBA 9,695 9,680 — Other 15 15 — With related allowance recorded Commercial and industrial 430 412 430 Commercial - SBA 37 37 6 Total $ 18,159 $ 17,976 $ 436 (dollars in thousands) Principal Recorded Related December 31, 2019 Balance Investment Allowance With no related allowance recorded Construction and land development $ 264 $ 264 $ — Commercial real estate 2,198 2,197 — Residential mortgage loans 1,349 1,334 — Commercial – SBA 9,423 9,423 — With related allowance recorded Commercial – SBA — — — Total $ 13,234 $ 13,218 $ — The following table presents information on impaired loans and leases, disaggregated by loan segment, for the periods indicated: Three Months Ended Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Average Interest Average Interest Average Interest Average Interest (dollars in thousands) Balance Income Balance Income Balance Income Balance Income With no related allowance recorded Construction and land development $ 762 $ — $ 269 $ 18 $ 765 $ — $ 271 $ 24 Commercial and industrial 1,782 7 — — 1,819 24 — — Commercial real estate 2,679 25 2,552 152 2,689 77 2,560 169 Residential mortgage loans 2,916 — 906 3 2,755 — 907 25 Commercial – SBA 10,017 — 3,005 3 12,682 — 3,007 4 Other 15 — — — 15 — — With related allowance recorded Commercial and industrial 433 — — — 482 — — — Commercial real estate — — 894 — — — 895 — Commercial – SBA 39 1 2,128 — 41 2 2,131 — $ 18,643 $ 33 $ 9,754 $ 176 $ 21,248 $ 103 $ 9,771 $ 222 No three nine September 30, 2020 2019 December 31, 2019. The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), signed into law on March 27, 2020, 19 March 1, 2020 December 31, 2020 60 not 30 December 31, 2019. 19 19 The Company identified six September 30, 2020 December 31, 2019, September 30, 2020, December 31, 2019. no September 30, 2020 December 31, 2019. no September 30, 2020 December 31, 2019 two twelve The following table presents loans by class modified as TDRs that occurred during the nine September 30, 2020. one three September 30, 2020 three nine September 30, 2020. no one three nine September 30, 2019, six nine 2020 2019. Pre- Post- Modification Modification (dollars in thousands) Number of Recorded Recorded September 30, 2020 Loans Investment Investment Commercial and industrial 3 1,719 1,719 Total 3 $ 1,719 $ 1,719 |
Note 6 - Loan Servicing
Note 6 - Loan Servicing | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Loan Servicing [Text Block] | NOTE 6 Mortgage and SBA loans serviced for others are not September 30, 2020 December 31, 2019 September 30, December 31, (dollars in thousands) 2020 2019 Loans serviced for others: Mortgage loans $ 1,569,407 $ 1,683,298 SBA loans $ 153,382 $ 170,849 Commercial real estate loans $ 4,164 $ 4,216 The fair value of servicing assets for mortgage loans was $11.2 September 30, 2020 December 31, 2019, $5.0 September 30, 2020 December 31, 2019, Servicing fees net of servicing asset amortization totaled $546,000 three nine September 30, 2020, three nine September 30, 2019, When mortgage and SBA loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no may nine September 30, 2020, 19 Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal. The amortization of mortgage servicing rights is netted against loan servicing fee income. Three Months Ended Nine Months Ended September 30, 2020 September 30, 2020 Mortgage SBA Mortgage SBA (dollars in thousands) Loans Loans Loans Loans Servicing assets: Beginning of period $ 11,981 $ 3,614 $ 12,997 $ 4,086 Additions 228 — 1,055 70 Disposals (360 ) (5 ) (998 ) (270 ) Amortized to expense (551 ) (133 ) (1,391 ) (410 ) Impairment (50 ) — (415 ) — End of period $ 11,248 $ 3,476 $ 11,248 $ 3,476 Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Mortgage SBA Mortgage SBA (dollars in thousands) Loans Loans Loans Loans Servicing assets: Beginning of period $ 13,244 $ 4,343 $ 12,858 $ 4,512 Additions 130 379 1,471 819 Disposals (42 ) (219 ) (128 ) (483 ) Amortized to expense (458 ) (197 ) (1,327 ) (542 ) End of period $ 12,874 $ 4,306 $ 12,874 $ 4,306 |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangibles | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 7 Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill resulting from whole bank acquisitions is not December 31st 19 September 30, 2020 December 31, 2019, March 31 June 30, 2020. no three nine September 30, 2020. Other intangible assets consist of core deposit intangible ("CDI") assets arising from whole bank acquisitions. CDI assets are amortized on an accelerated method over their estimated useful life of 8 to 10 years. The unamortized balance at September 30, 2020 December 31, 2019 $5.5 $357,0000 $384,000 three September 30, 2020 2019, nine September 30, 2020 2019, Estimated CDI amortization expense for future years is as follows: (dollars in thousands) As of September 30: Remainder of 2020 $ 322 2021 1,121 2022 936 2023 800 2024 683 Thereafter 1,657 Total $ 5,519 |
Note 8 - Deposits
Note 8 - Deposits | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 8 At September 30, 2020, (dollars in thousands) September 30, 2020 One year $ 1,232,580 Two to three years 70,341 Over three years 12,117 Total $ 1,315,038 The Board of Governors of the Federal Reserve System (“Federal Reserve”) announced the reduction of the reserve requirement ratio to zero March 26, 2020. no may |
Note 9 - Long-term Debt
Note 9 - Long-term Debt | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 9 In March 2016, March 31, 2026. March 31, 2021 3 March 31, 2021. 2 1 In November 2018, December 1, 2028. December 1, 2023 3 December 1, 2023. 2 1 At September 30, 2020 December 31, 2019, September 30, December 31, (dollars in thousands) 2020 2019 Principal $ 105,000 $ 105,000 Unamortized debt issuance costs $ 695 $ 951 The following table presents interest and amortization expense the Company incurred for the three nine September 30, 2020 2019: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in thousands) 2020 2019 2020 2019 Interest Expense: Interest $ 1,662 $ 1,662 $ 4,987 $ 4,987 Amortization 85 85 256 256 In July 2017, 2021, |
Note 10 - Subordinated Debentur
Note 10 - Subordinated Debentures | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | NOTE 10 SUBORDINATED DEBENTURES The Company, through the acquisition of TFC Holding Company (“TFC”) in 2016, not not may March 15, 2012, March 15, 2037. not five may three 1.90% September 30, 2020 3.54% December 31, 2019. In October 2018, December 2004. thirty independent investor, and FAIC issued $7.2 million of subordinated debentures to the FAIC Trust for all of its common securities, amounting to $217,000, which is included in other assets. There was a $1.2 million valuation reserve recorded to arrive at market value which is treated as a yield adjustment and is amortized over the life of the security. The Company has the option to defer interest payments on the subordinated debentures from time to time for a period not five three December 15, 2034. September 30, 2020 2.50% at December 31, 2019. In January 2020, December 2004. not five three December 15, 2034. September 30, 2020 2.35%. The Company paid interest expense of $102,000 and $131,000 for the three September 30, 2020 2019, nine September 30, 2020 2019, three September 30, 2020 2019 $54,000 nine September 30, 2020 2019, For regulatory reporting purposes, the Federal Reserve has indicated that the capital or trust preferred securities qualify as Tier I capital of the Company subject to previously specified limitations, until further notice. If regulators make a determination that the capital securities can no may In July 2017, 2021, |
Note 11 - Borrowing Arrangement
Note 11 - Borrowing Arrangements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 11 - BORROWING ARRANGEMENTS The Company has established secured and unsecured lines of credit. The Company may Federal Funds Arrangements with Commercial Banks. September 30, 2020, may Letter of Credit Arrangements. September 30, 2020, FRB Secured Line of Credit. $14.9 September 30, 2020 $28.6 FHLB Secured Line of Credit. $859.9 September 30, 2020 $1.1 FHLB Advances. September 30, 2020, $40.0 0.18%, $150.0 1.18% five no December 31, 2019. $444,000 $1.0 three nine September 30, 2020. September 30, 2020 December 31, 2019 2025. |
Note 12 - Income Taxes
Note 12 - Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 12 The asset and liability method is used in accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. During the three September 30, 2020 2019, $3.6 29.8% three September 30, 2020 2019, nine September 30, 2020 2019, nine September 30, 2020 2019, three September 30, 2020 2019, nine September 30, 2020 2019, |
Note 13 - Commitments
Note 13 - Commitments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | NOTE 13 The Company leases several of its operating facilities under various noncancellable operating leases expiring at various dates through 2034. Future minimum rent payments on the Company’s leases were as follows at September 30, 2020: (dollars in thousands) Year ending December 31: 2020 remaining $ 1,464 2021 5,181 2022 4,727 2023 3,778 2024 2,693 Thereafter 12,032 Total $ 29,875 The minimum rent payments shown above are given for the existing lease obligation and are not three September 30, 2020 2019, nine September 30, 2020 2019 third 2020 2019, nine September 30, 2020 2019, In the ordinary course of business, the Company enters into financial commitments to meet the financing needs of its customers. These financial commitments include commitments to extend credit, unused lines of credit, commercial and similar letters of credit and standby letters of credit. Those instruments involve to varying degrees, elements of credit and interest rate risk not The Company's exposure to loan loss in the event of nonperformance on these financial commitments is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for loans reflected in the financial statements. At September 30, 2020 December 31, 2019, September 30, December 31, (dollars in thousands) 2020 2019 Commitments to extend credit $ 447,111 $ 326,126 Commercial and similar letters of credit 296 358 Standby letters of credit 4,114 3,715 Total $ 451,521 $ 330,199 Commitments to extend credit are agreements to lend to a customer as long as there is no not The Company is involved in various matters of litigation which have arisen in the ordinary course of business and accruals for estimates of potential losses have been provided when necessary and appropriate under generally accepted accounting principles. In the opinion of management, the disposition of such pending litigation will not |
Note 14 - Related Party Transac
Note 14 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 14 Loans to principal officers, directors, and their affiliates were as follows: September 30, December 31, (dollars in thousands) 2020 2019 Beginning balance $ 4,000 $ 3,600 New loans and advances 7,376 16,180 Repayments (11,376 ) (15,780 ) Ending balance $ - $ 4,000 There were $11.4 million unfunded loan commitments outstanding to executive officers, directors and their related interests with whom they are associated at September 30, 2020 none December 31, 2019. Deposits from principal officers, directors, and their affiliates at September 30, 2020 December 31, 2019 |
Note 15 - Stock-based Compensat
Note 15 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 15 RBB Bancorp 2010 Under the RBB Bancorp 2010 “2010 2010 2010 2017 May 2017, no 2010 2010 2010 2010 RBB Bancorp 2017 The OSIP was adopted by the Company’s board of directors in January 2017 May 2017. September 30, 2020, September 30, 2020. The Company recognized stock-based compensation expense of $167,000 and $147,000 and recognized income tax benefit of $0 and $38,000 for the three September 30, 2020 2019, nine September 30, 2020 2019, The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions presented below for 2020 2019. 2020 2019 Expected volatility 28.5 % 35.0 % Expected term (in years) 6.0 6.0 Expected dividends 1.99 % 1.90 % Risk free rate 1.31 % 2.66 % Grant date fair value $ 4.61 $ 6.32 Since the Company had a limited amount of historical stock activity, the expected volatility was based on the historical volatility of similar banks that had a longer trading history. The expected term represents the estimated average period of time that the options remain outstanding. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding. The risk free rate of return reflects the grant date interest rate offered for zero A summary of the status of awards pursuant to the Company's stock option plans as of September 30, 2020 nine Weighted- Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic (dollars in thousands, except for share amounts) Shares Price Term (in years) Value Outstanding at beginning of year 1,090,968 $ 13.11 Granted 51,000 20.10 Exercised (56,498 ) 12.61 Forfeited/cancelled (36,000 ) 18.32 Outstanding at end of year 1,049,470 $ 13.30 3.52 years $ 189,917 Options exercisable 958,470 $ 12.73 3.01 years $ 189,917 As of September 30, 2020 1.7 The total fair value of the shares vested was $221,000, and $484,000 in 2020 2019, September 30, 2020 December 31, 2019, Cash received from the exercise of 56,498 share options was $712,000 for the nine September 30, 2020 December 31, 2019. nine September 30, 2020 December 31, 2019, |
Note 16 - Regulatory Matters
Note 16 - Regulatory Matters | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 16 Holding companies (with assets over $3 billion at the beginning of the year) and banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory - and possibly additional discretionary - actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. In July 2013, January 1, 2015, 1 “CET1” 1 three CET1, 1, January 1, 2016 four January 1, January 1, 2019). Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank's assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1 CET1 1 not September 30, 2020 December 31, 2019, As defined in applicable regulations and set forth in the tables below, RBB and the Bank continue to exceed the regulatory capital minimum requirements and the Bank continues to exceed the "well capitalized" standards at the dates indicated: Amount of Capital Required Minimum Required Plus To Be Well- Minimum Required for Conservation Buffer Capital Capitalized Under Prompt Actual Capital Adequacy Purposes Fully Phased-In Corrective Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of September 30, 2020: Tier 1 Leverage Ratio Consolidated $ 361,290 11.47 % $ 125,998 4.0 % $ 125,998 4.0 % $ 157,497 5.0 % Bank 445,699 14.16 % 125,929 4.0 % 125,929 4.0 % 157,411 5.0 % Common Equity Tier 1 Risk-Based Capital Ratio Consolidated 347,061 14.11 % 110,704 4.5 % 172,207 7.0 % 159,906 6.5 % Bank 445,699 18.13 % 110,432 4.5 % 171,783 7.0 % 159,513 6.5 % Tier 1 Risk-Based Capital Ratio Consolidated 361,290 14.69 % 147,606 6.0 % 209,108 8.5 % 196,808 8.0 % Bank 445,699 18.13 % 147,242 6.0 % 208,593 8.5 % 196,323 8.0 % Total Risk-Based Capital Ratio Consolidated 493,358 20.05 % 196,808 8.0 % 258,310 10.5 % 246,010 10.0 % Bank 473,462 19.26 % 196,323 8.0 % 257,674 10.5 % 245,404 10.0 % Amount of Capital Required Minimum Required Plus To Be Well- Minimum Required for Capital Conservation Buffer Capitalized Under Prompt Actual Capital Adequacy Purposes Fully Phased-In Corrective Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Tier 1 Leverage Ratio Consolidated $ 353,572 12.89 % $ 109,735 4.0 % $ 109,735 4.0 % $ 137,169 5.0 % Bank 417,036 15.23 % 108,150 4.0 % 108,150 4.0 % 135,187 5.0 % Common Equity Tier 1 Risk-Based Capital Ratio Consolidated 343,899 17.16 % 90,165 4.5 % 140,256 7.0 % 130,238 6.5 % Bank 417,036 20.87 % 89,127 4.5 % 138,642 7.0 % 128,739 6.5 % Tier 1 Risk-Based Capital Ratio Consolidated 353,572 17.65 % 120,219 6.0 % 170,311 8.5 % 160,292 8.0 % Bank 417,036 20.87 % 118,836 6.0 % 168,351 8.5 % 158,448 8.0 % Total Risk-Based Capital Ratio Consolidated 477,262 23.82 % 160,292 8.0 % 210,384 10.5 % 200,366 10.0 % Bank 436,677 21.86 % 158,448 8.0 % 207,964 10.5 % 198,061 10.0 % The California Financial Code generally acts to prohibit banks from making a cash distribution to its shareholders in excess of the lesser of the bank's undivided profits or the bank's net income for its last three The California General Corporation Law generally acts to prohibit companies from paying dividends on common stock unless its retained earnings, immediately prior to the dividend payment, equals or exceeds the amount of the dividend. If a company fails this test, then it may Additionally, the Federal Reserve has issued guidance which requires that they be consulted before payment of a dividend if a financial holding company does not four |
Note 17 - Fair Value Measuremen
Note 17 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | NOTE 17 The following is a description of valuation methodologies used for assets and liabilities recorded at fair value: Securities: 1 2 Other Real Estate Owned third 3 Appraisals for OREO are performed by state licensed appraisers (for commercial properties) or state certified appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. When a Notice of Default is recorded, an appraisal report is ordered. Once received, a member of the credit administration department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison to independent data sources such as recent market data or industry wide-statistics for residential appraisals. Commercial appraisals are sent to an independent third twelve No September 30, 2020. Collateral-dependent impaired loans The following table provides the hierarchy and fair value for each major category of assets and liabilities measured at fair value at September 30, 2020 December 31, 2019: (dollars in thousands) Fair Value Measurements Using: September 30, 2020 Level 1 Level 2 Level 3 Total Assets measured at fair value: On a recurring basis: Securities available for sale Government agency securities $ — $ 1,288 $ — $ 1,288 SBA agency securities — 4,515 — 4,515 Mortgage-backed securities — 17,818 — 17,818 Collateralized mortgage obligations — 46,336 — 46,336 Commercial paper — 109,188 — 109,188 Corporate debt securities — 33,930 — 33,930 Municipal securities — 1,587 — 1,587 $ — $ 214,662 $ — $ 214,662 On a non-recurring basis: Other real estate owned — — 293 293 $ — $ — $ 293 $ 293 December 31, 2019 Level 1 Level 2 Level 3 Total Assets measured at fair value: On a recurring basis: Securities available for sale Government agency securities $ — $ 1,572 $ — $ 1,572 SBA agency securities — 4,691 — 4,691 Mortgage-backed securities — 19,171 — 19,171 Collateralized mortgage obligations — 11,654 — 11,654 Commercial paper — 69,898 — 69,898 Corporate debt securities — 19,083 — 19,083 $ — $ 126,069 $ — $ 126,069 On a non-recurring basis: Other real estate owned $ — $ — $ 293 $ 293 No nine September 30, 2020 December 31, 2019. Quantitative information about the Company's impaired loans and OREO non-recurring Level 3 September 30, 2020 December 31, 2019 (dollars in thousands) Fair Value Valuation Unobservable Adjustment September 30, 2020 Amount Technique Input Range Other real estate owned $ 293 Third Party Appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 5% - 6% December 31, 2019 Other real estate owned $ 293 Third Party Appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 5% - 6% OREO as of September 30, 2020 |
Note 18 - Fair Value of Financi
Note 18 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 18 The fair value of a financial instrument is the amount at which the asset or obligation could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instrument. These estimates do not one no Fair value estimates are based on financial instruments both on and off the balance sheet without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not not In accordance with accounting guidance, the Company groups its financial assets and financial liabilities measured at fair value in three 1 3 three Level 1 Level 2 1 not Level 3 one not may Because no A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Management maximizes the use of observable inputs and attempts to minimize the use of unobservable inputs when determining fair value measurements. Estimated fair values are disclosed for financial instruments for which it is practicable to estimate fair value. These estimates are made at a specific point in time based on relevant market data and information about the financial instruments. These estimates do not one not The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments: For cash and due from banks, Federal funds sold, and cash equivalents, the carrying amount is assumed to be a reasonable estimate of fair value, a Level 1 For short-term investments and interest-bearing deposits, the carrying amount is assumed to be a reasonable estimate of fair value, a Level 1 Securities available for sale are measured by using quoted market prices for similar securities or dealer quotes, a Level 2 Equity securities fair value are measured based on quoted market prices in active exchange markets at the reporting date, a level 3 Fair values are estimated for portfolios of loans with similar financial characteristics. Each loan category is further segmented into fixed and adjustable rate interest terms and by performing and non-performing categories. The fair values are based primarily on third The fair value of performing loans is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan, a Level 3 The fair value of impaired loans is calculated based on the net realizable fair value of the collateral or the observable market price of the most recent sale or quoted price from loans held for sale. The Company does not 3 The Company records loans held for sale at fair value based on quoted prices from third 1 Mortgage and SBA servicing rights are calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan, a Level 2 For accrued interest receivable, the carrying amount is assumed to be a reasonable estimate of fair value, a Level 1 The fair value of demand deposits, savings accounts, and certain money market deposits is assumed to be the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits with similar remaining maturities, a Level 2 The fair value of FHLB advances is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk, a Level 3 Subordinated debentures fair value is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk, a Level 3 The fair value of long-term debt is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk, a Level 3 For accrued interest payable, the carrying amount is assumed to be a reasonable estimate of fair value, a Level 1 Fair value is estimated in accordance with ASC Topic 825. not one no The fair value hierarchy level and estimated fair value of significant financial instruments at September 30, 2020 December 31, 2019 September 30, December 31, 2020 2019 Fair Value Carrying Fair Carrying Fair (dollars in thousands) Hierarchy Value Value Value Value Financial Assets: Cash and due from banks Level 1 $ 121,630 $ 121,630 $ 114,763 $ 114,763 Federal funds sold and other cash equivalents Level 1 57,000 57,000 67,000 67,000 Interest-earning deposits in other financial institutions Level 1 600 600 600 600 Investment securities - AFS Level 2 214,662 214,662 126,069 126,069 Investment securities - HTM Level 2 7,569 7,982 8,332 8,632 Mortgage loans held for sale Level 1 23,886 24,224 108,194 109,385 Loans, net Level 3 2,728,519 2,741,656 2,178,118 2,158,970 Equity security Level 3 11,854 11,854 11,826 11,826 Mortgage and SBA serving rights Level 2 14,724 16,253 17,083 20,752 Accrued interest receivable Level 1 15,542 15,542 8,942 8,942 Financial Liabilities: Deposits Level 2 $ 2,611,748 $ 2,611,531 $ 2,248,938 $ 2,236,329 FHLB advances Level 3 190,000 189,965 — — Long-term debt Level 3 104,305 137,628 104,049 109,877 Subordinated debentures Level 3 14,229 14,562 9,673 11,709 Accrued interest payable Level 1 3,645 3,645 2,987 2,987 |
Note 19 - Earnings Per Share
Note 19 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 19 The following is a reconciliation of net income and shares outstanding to the income and number of shares used to compute earnings per share (“EPS”): For the Three Months Ended September 30, 2020 2019 (dollars in thousands except per share amounts) Income Shares Income Shares Net income as reported $ 8,520 $ 8,012 Less: Earnings allocated to participating securities (9 ) - Shares outstanding 19,739,280 20,030,866 Impact of weighting shares (21,713 ) 36,981 Used in basic EPS 8,511 19,717,568 8,012 20,067,847 Dilutive effect of outstanding Stock options 87,324 358,119 Used in dilutive EPS $ 8,511 19,804,892 $ 8,012 20,425,966 Basic earnings per common share $ 0.43 $ 0.40 Diluted earnings per common share 0.43 0.39 For the Nine Months Ended September 30, 2020 2019 (dollars in thousands except per share amounts) Income Shares Income Shares Net income as reported $ 21,781 $ 28,534 Less: Earnings allocated to participating securities $ (29 ) Shares outstanding 19,739,280 20,030,866 Impact of weighting shares 60,337 32,613 Used in basic EPS 21,752 19,799,617 28,534 20,063,479 Dilutive effect of outstanding Stock options 158,994 372,388 Used in dilutive EPS $ 21,752 19,958,612 $ 28,534 20,435,867 Basic earnings per common share $ 1.10 $ 1.42 Diluted earnings per common share 1.09 1.40 Stock options for 378,709 shares and 76,500 shares of common stock were not September 30, 2020 2019, |
Note 20 - Revenue From Contract
Note 20 - Revenue From Contracts With Customers | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 20 On January 1, 2019, 2014 09, Revenue from Contracts with Customers - Topic 606 606. 606 not January 1, 2019. not no The following is a summary of revenue from contracts with customers that are in-scope and not 606: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in thousands) 2020 2019 2020 2019 Non-interest income, in scope (1) Fees and service charges on deposit accounts $ 353 $ 340 $ 1,244 $ 953 Other fees (2) 254 168 513 791 Other income (3) 466 375 1,403 1,108 Gain on sale of fixed assets — 11 — 17 Total in-scope non-interest income 1,073 894 3,160 2,869 Non-interest income, not in scope (4) 1,654 1,905 6,390 9,628 Total non-interest income $ 2,727 $ 2,799 $ 9,550 $ 12,497 ( 1 There were no 606. ( 2 Other fees consists of wealth management fees, miscellaneous loan fees and postage/courier fees. ( 3 Other income consists of safe deposit box rental income, wire transfer fees, security brokerage fees, annuity sales, insurance activity and OREO income. ( 4 The amounts primarily represent revenue from contracts with customers that are out of scope of ASC 606: The major revenue streams by fee type that are within the scope of ASC 606 Fees and Services Charges on Deposit Accounts Fees and service charges on deposit accounts include charges for analysis, overdraft, cash checking, ATM, and safe deposit activities executed by our deposit clients, as well as interchange income earned through card payment networks for the acceptance of card based transactions. Fees earned from our deposit clients are governed by contracts that provide for overall custody and access to deposited funds and other related services, and can be terminated at will by either party; this includes fees from money service businesses (“MSBs”). Fees received from deposit clients for the various deposit activities are recognized as revenue once the performance obligations are met. The adoption of ASU 2014 09 no Wealth Management Fees The Company employs financial consultants to provide investment planning services for customers including wealth management services, asset allocation strategies, portfolio analysis and monitoring, investment strategies, and risk management strategies. The fees the Company earns are variable and are generally received monthly. The Company recognizes revenue for the services performed at quarter-end based on actual transaction details received from the broker dealer the Company engages. In the Company’s wealth management division, revenue is primarily generated from ( 1 2 3 4 Gain on Sales of OREO and Fixed Assets The Company records a gain or loss from the sale of OREO and fixed assets, when control of the property or asset transfers to the buyer, which generally occurs at the time of an executed deed or sales agreement. When the Company finances the sale of OREO to a buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain or loss on sale if a significant financing component is present. |
Note 21 - Qualified Affordable
Note 21 - Qualified Affordable Housing Project Investments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Affordable Housing Program [Text Block] | NOTE 2 1 - QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS The Company began investing in qualified housing projects in 2016. September 30, 2020 December 31, 2019, $7.9 September 30, 2020 December 31, 2019, 2027. For the three September 30, 2020 2019, nine September 30, 2020 2019, |
Note 22 - Recent Developments
Note 22 - Recent Developments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Recent Developments Disclosure [Text Block] | NOTE 2 2 - RECENT DEVELOPMENTS On October 1, 2020 3 2057 56 th 11214 first first June 1, 2022. second third one May 31, 2021. On October 23, 2020 third 2020. November 16, 2020 November 2, 2020 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited consolidated financial statements and notes thereto of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for Form 10 three nine September 30, 2020 not December 31, 2019, 10 December 31, 2019 ( “2019 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. It is reasonably possible our estimate of the allowance for loan losses and the fair value of mortgage servicing rights could change as actual results could differ from those estimates. Actual results could differ from those estimates. |
Summary of Significant Accounting Policies [Policy Text Block] | Summary of Significant Accounting Policies The accompanying unaudited consolidated financial statements were compiled in accordance with the accounting policies set forth in Note 2 December 31, 2019, 2019 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements When RBB conducted its initial public offering (“IPO”) in 2017, $1.0 fifth three $1.0 1934, no December 31, 2022 1933, In February 2016, 2016 02, Leases (Topic 842 not 12 2020 05, December 15, 2021, December 15, 2022. not December 31 202 2 December 15, 2018, In June 2016, 2016 13, Measurement of Credit Losses on Financial Instrument (Topic 326 1 2 not 2016 13 2016 13 December 15, 2020 ( first 2016 13. 2016 13 2016 13 December 31, 2022. In February 2019, three one 2016 13. March 2020, two five 2019 19" five In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 2 2 not not 2017 04 December 15, 20 19 December 31, 2022. 2017 04 not In March 2017, 2017 08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2020 December 15, 2019. 2017 08 not In June 2018, 2018 07, Compensation—Stock Compensation (Topic 718 718 718 718 718 not 1 2 606, December 15, 2019, December 15, 2020. January 1, 2020 not In August 2018, 2018 13, Fair Value Measurement (Topic 820 F air Value Measurement 820, 1 1 2 2 3 3 1 2 1 3 2 3 may 3 at a minimum December 15, 2019. 3 January 1, 2020 not In August 2018, 2018 15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350 40 2015 05, 350 40 December 15, 2020, December 15, 2021. not In November 2019, 2019 08, Compensation—Stock Compensation (Topic 718 606 June 2018, 2018 07 718, 606, not 718. 2019 08 not 2018 07, 2019 08 December 15, 2019, December 15, 2020. December 31, 2019 not not In January 2020, 2020 01, 321 323 815 321 not December 15, 2021, In February 2020, 2020 02, 326 842 No. 119 No. 2016 02, 842 December 31, 2022. In March 2020, 2020 03, 1 2 3 820, 4 326, 5 860 20, 326. 1, 2, 4 5 December 15, 2019, December 15, 2020. 3 2019 04. In March 2020, 2020 04, 848 December 31, 2022). one may January 1, 2020. 1 March 12, 2020 ( January 1, 2020 2 3 one may March 12, 2020. not December 31, 2022. December 31, 2022. $2.8 September 30, 2020, 15% 9 10 10 In June 2020, 2020 05, 606 842 606 842 606 842 January 1, 2022. |
Note 3 - Acquisition (Tables)
Note 3 - Acquisition (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Business Combination, Loans Acquired [Table Text Block] | PGBH Acquired Loans Contractual amounts due $ 195,227 Cash flows not expected to be collected 5,176 Expected cash flows 190,051 Interest component of expected cash flows 16,942 Fair value of acquired loans $ 173,109 |
Business Acquisition, Pro Forma Information [Table Text Block] | Three Months Ended Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Net interest and other income $ 29,978 $ 28,715 $ 85,662 $ 92,856 Net income 8,520 8,531 20,615 30,432 Basic earnings per share 0.43 0.43 1.04 1.52 Diluted earnings per share 0.43 0.42 1.03 1.49 |
PGB Holdings Inc. [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | PGBH Fair Value Fair (dollars in thousands) Book Value Adjustments Value Assets acquired Cash and cash equivalents $ 17,033 $ — $ 17,033 Fed funds sold 8,300 — 8,300 Interest-bearing deposits in other financial Institutions 14,186 — 14,186 Investments - held to maturity — — — Investments - available for sale — — — Mortgage loans held for sale — — — Loans, gross 172,443 666 173,109 Allowance for loan losses (2,265 ) 2,265 — Bank premises and equipment 6,394 1,639 8,033 Mortgage servicing rights — — — Core deposit premium — 491 491 Investment in trust 155 — 155 Other assets 1,687 (194 ) 1,493 Total assets acquired $ 217,933 $ 4,867 $ 222,800 Liabilities assumed Deposits $ 187,393 $ 969 $ 188,362 Escrow Payable 4,277 — 4,277 Subordinated debentures 5,155 (763 ) 4,392 Deferred income taxes 1,016 1,721 2,737 Other liabilities 1,211 (384 ) 827 Total liabilities assumed 199,052 1,543 200,595 Excess of assets acquired over liabilities assumed 18,881 3,324 22,205 $ 217,933 $ 4,867 Cash paid 32,885 Goodwill recognized $ 10,680 |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Available for Sale Securities, and Held to Maturity [Table Text Block] | Gross Gross (dollars in thousands) Amortized Unrealized Unrealized Fair September 30, 2020 Cost Gains Losses Value Available for sale Government agency securities $ 1,258 $ 30 $ — $ 1,288 SBA agency securities 4,262 253 — 4,515 Mortgage-backed securities- Government sponsored agencies 17,530 294 (6 ) 17,818 Collateralized mortgage obligations 45,948 479 (91 ) 46,336 Commercial paper 109,188 — — 109,188 Corporate debt securities 33,412 560 (42 ) 33,930 Municipal securities 1,623 — (36 ) 1,587 Total $ 213,221 $ 1,616 $ (175 ) $ 214,662 Held to maturity Municipal taxable securities $ 2,797 $ 156 $ — $ 2,953 Municipal securities 4,772 257 — 5,029 Total $ 7,569 $ 413 $ — $ 7,982 December 31, 2019 Available for sale Government agency securities $ 1,591 $ — $ (19 ) $ 1,572 SBA agency securities 4,671 42 (22 ) 4,691 Mortgage-backed securities- Government sponsored agencies 19,126 74 (29 ) 19,171 Collateralized mortgage obligations 11,641 38 (25 ) 11,654 Corporate debt securities 88,700 281 — 88,981 Total $ 125,729 $ 435 $ (95 ) $ 126,069 Held to maturity Municipal taxable securities $ 3,505 $ 147 $ — $ 3,652 Municipal securities 4,827 153 — 4,980 Total $ 8,332 $ 300 $ — $ 8,632 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Less than One Year More than One Year to Five Years More than Five Years to Ten Years More than Ten Years Total Amortized Estimated Amortized Estimated Amortized Estimated Amortized Estimated Amortized Estimated (dollars in thousands) Cost Fair Value Cost Fair Value Cost Fair Value Cost Fair Value Cost Fair Value September 30, 2020 Government agency securities $ — $ — $ 1,258 $ 1,288 $ — $ — $ — $ — $ 1,258 $ 1,288 SBA securities — — 596 629 3,666 3,886 — — 4,262 4,515 Mortgage-backed securities- Government sponsored agencies 3,010 3,014 14,520 14,804 — — — — 17,530 17,818 Collateralized mortgage obligations — — 13,895 14,274 32,053 32,062 — — 45,948 46,336 Commercial paper 109,188 109,188 — — — — — — 109,188 109,188 Corporate debt securities 2,001 2,031 14,668 14,742 12,743 13,159 4,000 3,998 33,412 33,930 Municipal securities — — — — — — 1,623 1,587 1,623 1,587 Total available for sale $ 114,199 $ 114,233 $ 44,937 $ 45,737 $ 48,462 $ 49,107 $ 5,623 $ 5,585 $ 213,221 $ 214,662 Municipal taxable securities $ 979 $ 998 $ 1,818 $ 1,955 $ — $ — $ — $ — $ 2,797 $ 2,953 Municipal securities — — — — 874 922 3,898 4,107 4,772 5,029 Total held to maturity $ 979 $ 998 $ 1,818 $ 1,955 $ 874 $ 922 $ 3,898 $ 4,107 $ 7,569 $ 7,982 December 31, 2019 Government agency securities $ — $ — $ 1,591 $ 1,572 $ — $ — $ — $ — $ 1,591 $ 1,572 SBA securities — — 714 725 3,957 3,966 — — 4,671 4,691 Mortgage-backed securities- Government sponsored agencies 3,663 3,679 13,027 13,059 2,436 2,433 — — 19,126 19,171 Collateralized mortgage obligations — — 9,288 9,265 2,353 2,389 — — 11,641 11,654 Corporate debt securities 70,914 70,919 2,002 2,008 11,772 12,024 4,012 4,030 88,700 88,981 Total available for sale $ 74,577 $ 74,598 $ 26,622 $ 26,629 $ 20,518 $ 20,812 $ 4,012 $ 4,030 $ 125,729 $ 126,069 Municipal taxable securities $ 285 $ 289 $ 2,716 $ 2,784 $ 504 $ 579 $ — $ — $ 3,505 $ 3,652 Municipal securities — — 40 40 366 379 4,421 4,561 4,827 4,980 Total held to maturity $ 285 $ 289 $ 2,756 $ 2,824 $ 870 $ 958 $ 4,421 $ 4,561 $ 8,332 $ 8,632 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than Twelve Months Twelve Months or More Total Unrealized Estimated No. of Unrealized Estimated No. of Unrealized Estimated No. of (dollars in thousands) Losses Fair Value Issuances Losses Fair Value Issuances Losses Fair Value Issuances September 30, 2020 Mortgage-backed securities- Government sponsored agencies (6 ) 9,998 2 — — — (6 ) 9,998 2 Collateralized mortgage obligations (91 ) 29,260 6 (91 ) 29,260 6 Corporate debt securities (42 ) 5,958 4 — — — (42 ) 5,958 4 Municipal securities (36 ) 1,587 3 (36 ) 1,587 3 Total available for sale $ (175 ) $ 46,803 15 $ — $ — — $ (175 ) $ 46,803 $ 15 Total held to maturity $ — $ — — $ — $ — — $ — $ — — December 31, 2019 Government agency securities $ (19 ) $ 1,572 2 $ — $ — — $ (19 ) $ 1,572 2 SBA securities (22 ) 1,469 2 — — — (22 ) 1,469 2 Mortgage-backed securities- Government sponsored agencies (5 ) 2,631 4 (24 ) 3,912 6 (29 ) 6,543 10 Collateralized mortgage obligations (10 ) 5,738 3 (15 ) 953 2 (25 ) 6,691 5 Total available for sale $ (56 ) $ 11,410 11 $ (39 ) $ 4,865 8 $ (95 ) $ 16,275 19 Total held to maturity $ — $ — — $ — $ — — $ — $ — — |
Note 5 - Loans and Allowance _2
Note 5 - Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Three Months Ended September 30, 2020 2019 (dollars in thousands) Real Estate Commercial Other Unallocated Total Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning balance $ 18,985 $ 3,813 $ 22 $ — $ 22,820 $ 14,582 $ 3,976 $ 3 $ — $ 18,561 Additions (reductions) to the allowance charged to expense 2,858 990 13 — 3,861 558 25 3 238 824 Charge-offs on loans — (48 ) — — (48 ) — — — — — Recoveries on loans — 1 — — 1 — 1 — — 1 Ending balance $ 21,843 $ 4,756 $ 35 $ — $ 26,634 $ 15,140 $ 4,002 $ 6 $ 238 $ 19,386 Nine Months Ended September 30, 2020 2019 (dollars in thousands) Real Estate Commercial Other Unallocated Total Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning of year $ 15,118 $ 3,588 $ 9 $ 101 $ 18,816 $ 13,437 $ 4,140 $ — $ — $ 17,577 Additions (reductions) to the allowance charged to expense 6,725 2,165 26 (101 ) 8,815 1,703 (216 ) 6 238 1,731 Charge-offs on loans — (998 ) — — (998 ) — 110 — — 110 Recoveries on loans — 1 — — 1 — (32 ) — — (32 ) Ending balance $ 21,843 $ 4,756 $ 35 $ — $ 26,634 $ 15,140 $ 4,002 $ 6 $ 238 $ 19,386 For the year end December 31, 2019 (dollars in thousands) Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning of year $ 13,437 $ 4,140 $ — $ — $ 17,577 Additions (reductions) to the allowance charged to expense 1,847 433 9 101 2,390 Charge-offs on loans (166 ) (1,093 ) — — (1,259 ) Recoveries on loans — 108 — — 108 Ending balance $ 15,118 $ 3,588 $ 9 $ 101 $ 18,816 (dollars in thousands) September 30, 2020 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ 436 $ — $ — $ 436 General 21,843 4,320 35 — 26,198 Total allowance for loan losses $ 21,843 $ 4,756 $ 35 $ — $ 26,634 Loans evaluated for impairment: Individually $ 6,119 $ 11,842 $ 15 $ — $ 17,976 Collectively 2,316,619 417,242 3,316 — 2,737,177 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 2,322,738 $ 429,084 $ 3,331 $ — $ 2,755,153 September 30, 2019 Real Estate Commercial Other Unallocated Total Reserves: Specific $ 127 $ 303 $ — $ — $ 430 General 15,013 3,699 6 238 18,956 Total allowance for loan losses $ 15,140 $ 4,002 $ 6 238 19,386 Loans evaluated for impairment: Individually $ 4,537 $ 5,091 $ — $ — $ 9,628 Collectively 1,773,616 342,365 536 — 2,116,517 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 1,778,153 $ 347,456 $ 536 $ — $ 2,126,145 December 31, 2019 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ — $ — $ — $ — General 15,118 3,588 9 101 18,816 Total allowance for loan losses $ 15,118 $ 3,588 $ 9 $ 101 $ 18,816 Loans evaluated for impairment: Individually $ 3,795 $ 9,423 $ — $ — $ 13,218 Collectively 1,842,747 340,148 821 — 2,183,716 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 1,846,542 $ 349,571 $ 821 $ — $ 2,196,934 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (dollars in thousands) Special September 30, 2020 Pass Mention Substandard Impaired Total (1) Real estate: Construction and land development $ 182,808 $ — $ — $ 761 $ 183,569 Commercial real estate 913,868 5,980 52,728 2,611 975,187 Single-family residential mortgages 1,158,935 2,083 217 2,747 1,163,982 Commercial: Other 308,412 — 7,354 2,125 317,891 SBA 97,010 187 4,279 9,717 111,193 Other: 3,316 — — 15 3,331 Total loans $ 2,664,349 $ 8,250 $ 64,578 $ 17,976 $ 2,755,153 (dollars in thousands) Special December 31, 2019 Pass Mention Substandard Impaired Total(1) Real estate: Construction and land development $ 95,756 $ — $ — $ 264 $ 96,020 Commercial real estate 767,603 5,353 18,115 2,197 793,268 Single-family residential mortgages 955,327 — 593 1,334 957,254 Commercial: Other 265,178 4,078 5,330 — 274,586 SBA 61,496 189 3,877 9,423 74,985 Other: 821 — — — 821 Total loans $ 2,146,181 $ 9,620 $ 27,915 $ 13,218 $ 2,196,934 |
Financing Receivable, Past Due [Table Text Block] | (dollars in thousands) 30 59 60 89 90 Days Total Loans Not Total Non-Accrual September 30, 2020 Days Days Or More Past Due Past Due Loans Loans (1) Real estate: Construction and land development $ — $ 400 $ 361 $ 761 $ 182,808 $ 183,569 $ 761 Commercial real estate 7,578 11,791 1,168 20,537 954,650 975,187 1,168 Single-family residential mortgages 2,408 791 799 3,998 1,159,984 1,163,982 2,747 Commercial: Other — — 882 882 317,009 317,891 1,622 SBA — 37 9,680 9,717 101,476 111,193 9,680 Other: 12 — 15 27 3,304 3,331 15 $ 9,998 $ 13,019 $ 12,905 $ 35,922 $ 2,719,231 $ 2,755,153 $ 15,993 30 59 60 89 90 Days Total Loans Not Total Non-Accrual December 31, 2019 Days Days Or More Past Due Past Due Loans Loans (1) Real estate: Construction and land development $ — $ — $ — $ — $ 96,020 $ 96,020 $ — Commercial real estate — — 725 725 792,543 793,268 725 Single-family residential mortgages 1,454 1,560 450 3,464 953,790 957,254 1,334 Commercial: Other — — — — 274,586 274,586 — SBA 2,263 — 9,378 11,641 63,344 74,985 9,378 Other: — — — — 821 821 — $ 3,717 $ 1,560 $ 10,553 $ 15,830 $ 2,181,104 $ 2,196,934 $ 11,437 |
Impaired Financing Receivables [Table Text Block] | (dollars in thousands) Principal Recorded Related September 30, 2020 Balance Investment Allowance With no related allowance recorded Construction and land development $ 761 $ 761 $ — Commercial and industrial 1,764 1,713 Commercial real estate 2,611 2,611 — Residential mortgage loans 2,846 2,747 — Commercial – SBA 9,695 9,680 — Other 15 15 — With related allowance recorded Commercial and industrial 430 412 430 Commercial - SBA 37 37 6 Total $ 18,159 $ 17,976 $ 436 (dollars in thousands) Principal Recorded Related December 31, 2019 Balance Investment Allowance With no related allowance recorded Construction and land development $ 264 $ 264 $ — Commercial real estate 2,198 2,197 — Residential mortgage loans 1,349 1,334 — Commercial – SBA 9,423 9,423 — With related allowance recorded Commercial – SBA — — — Total $ 13,234 $ 13,218 $ — |
Summary Of Impaired Loans And Leases [Table Text Block] | Three Months Ended Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Average Interest Average Interest Average Interest Average Interest (dollars in thousands) Balance Income Balance Income Balance Income Balance Income With no related allowance recorded Construction and land development $ 762 $ — $ 269 $ 18 $ 765 $ — $ 271 $ 24 Commercial and industrial 1,782 7 — — 1,819 24 — — Commercial real estate 2,679 25 2,552 152 2,689 77 2,560 169 Residential mortgage loans 2,916 — 906 3 2,755 — 907 25 Commercial – SBA 10,017 — 3,005 3 12,682 — 3,007 4 Other 15 — — — 15 — — With related allowance recorded Commercial and industrial 433 — — — 482 — — — Commercial real estate — — 894 — — — 895 — Commercial – SBA 39 1 2,128 — 41 2 2,131 — $ 18,643 $ 33 $ 9,754 $ 176 $ 21,248 $ 103 $ 9,771 $ 222 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Pre- Post- Modification Modification (dollars in thousands) Number of Recorded Recorded September 30, 2020 Loans Investment Investment Commercial and industrial 3 1,719 1,719 Total 3 $ 1,719 $ 1,719 |
Note 6 - Loan Servicing (Tables
Note 6 - Loan Servicing (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Mortgage And Small Business Administration Loans Serviced For Others [Table Text Block] | September 30, December 31, (dollars in thousands) 2020 2019 Loans serviced for others: Mortgage loans $ 1,569,407 $ 1,683,298 SBA loans $ 153,382 $ 170,849 Commercial real estate loans $ 4,164 $ 4,216 |
Servicing Asset at Amortized Cost [Table Text Block] | Three Months Ended Nine Months Ended September 30, 2020 September 30, 2020 Mortgage SBA Mortgage SBA (dollars in thousands) Loans Loans Loans Loans Servicing assets: Beginning of period $ 11,981 $ 3,614 $ 12,997 $ 4,086 Additions 228 — 1,055 70 Disposals (360 ) (5 ) (998 ) (270 ) Amortized to expense (551 ) (133 ) (1,391 ) (410 ) Impairment (50 ) — (415 ) — End of period $ 11,248 $ 3,476 $ 11,248 $ 3,476 Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Mortgage SBA Mortgage SBA (dollars in thousands) Loans Loans Loans Loans Servicing assets: Beginning of period $ 13,244 $ 4,343 $ 12,858 $ 4,512 Additions 130 379 1,471 819 Disposals (42 ) (219 ) (128 ) (483 ) Amortized to expense (458 ) (197 ) (1,327 ) (542 ) End of period $ 12,874 $ 4,306 $ 12,874 $ 4,306 |
Note 7 - Goodwill and Intangi_2
Note 7 - Goodwill and Intangibles (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (dollars in thousands) As of September 30: Remainder of 2020 $ 322 2021 1,121 2022 936 2023 800 2024 683 Thereafter 1,657 Total $ 5,519 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Time Deposit Maturities [Table Text Block] | (dollars in thousands) September 30, 2020 One year $ 1,232,580 Two to three years 70,341 Over three years 12,117 Total $ 1,315,038 |
Note 9 - Long-term Debt (Tables
Note 9 - Long-term Debt (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30, December 31, (dollars in thousands) 2020 2019 Principal $ 105,000 $ 105,000 Unamortized debt issuance costs $ 695 $ 951 |
Schedule of Interest and Amortizations Expense [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in thousands) 2020 2019 2020 2019 Interest Expense: Interest $ 1,662 $ 1,662 $ 4,987 $ 4,987 Amortization 85 85 256 256 |
Note 13 - Commitments (Tables)
Note 13 - Commitments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | (dollars in thousands) Year ending December 31: 2020 remaining $ 1,464 2021 5,181 2022 4,727 2023 3,778 2024 2,693 Thereafter 12,032 Total $ 29,875 |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | September 30, December 31, (dollars in thousands) 2020 2019 Commitments to extend credit $ 447,111 $ 326,126 Commercial and similar letters of credit 296 358 Standby letters of credit 4,114 3,715 Total $ 451,521 $ 330,199 |
Note 14 - Related Party Trans_2
Note 14 - Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | September 30, December 31, (dollars in thousands) 2020 2019 Beginning balance $ 4,000 $ 3,600 New loans and advances 7,376 16,180 Repayments (11,376 ) (15,780 ) Ending balance $ - $ 4,000 |
Note 15 - Stock-based Compens_2
Note 15 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2020 2019 Expected volatility 28.5 % 35.0 % Expected term (in years) 6.0 6.0 Expected dividends 1.99 % 1.90 % Risk free rate 1.31 % 2.66 % Grant date fair value $ 4.61 $ 6.32 |
Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block] | Weighted- Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic (dollars in thousands, except for share amounts) Shares Price Term (in years) Value Outstanding at beginning of year 1,090,968 $ 13.11 Granted 51,000 20.10 Exercised (56,498 ) 12.61 Forfeited/cancelled (36,000 ) 18.32 Outstanding at end of year 1,049,470 $ 13.30 3.52 years $ 189,917 Options exercisable 958,470 $ 12.73 3.01 years $ 189,917 |
Note 16 - Regulatory Matters (T
Note 16 - Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Amount of Capital Required Minimum Required Plus To Be Well- Minimum Required for Conservation Buffer Capital Capitalized Under Prompt Actual Capital Adequacy Purposes Fully Phased-In Corrective Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of September 30, 2020: Tier 1 Leverage Ratio Consolidated $ 361,290 11.47 % $ 125,998 4.0 % $ 125,998 4.0 % $ 157,497 5.0 % Bank 445,699 14.16 % 125,929 4.0 % 125,929 4.0 % 157,411 5.0 % Common Equity Tier 1 Risk-Based Capital Ratio Consolidated 347,061 14.11 % 110,704 4.5 % 172,207 7.0 % 159,906 6.5 % Bank 445,699 18.13 % 110,432 4.5 % 171,783 7.0 % 159,513 6.5 % Tier 1 Risk-Based Capital Ratio Consolidated 361,290 14.69 % 147,606 6.0 % 209,108 8.5 % 196,808 8.0 % Bank 445,699 18.13 % 147,242 6.0 % 208,593 8.5 % 196,323 8.0 % Total Risk-Based Capital Ratio Consolidated 493,358 20.05 % 196,808 8.0 % 258,310 10.5 % 246,010 10.0 % Bank 473,462 19.26 % 196,323 8.0 % 257,674 10.5 % 245,404 10.0 % Amount of Capital Required Minimum Required Plus To Be Well- Minimum Required for Capital Conservation Buffer Capitalized Under Prompt Actual Capital Adequacy Purposes Fully Phased-In Corrective Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Tier 1 Leverage Ratio Consolidated $ 353,572 12.89 % $ 109,735 4.0 % $ 109,735 4.0 % $ 137,169 5.0 % Bank 417,036 15.23 % 108,150 4.0 % 108,150 4.0 % 135,187 5.0 % Common Equity Tier 1 Risk-Based Capital Ratio Consolidated 343,899 17.16 % 90,165 4.5 % 140,256 7.0 % 130,238 6.5 % Bank 417,036 20.87 % 89,127 4.5 % 138,642 7.0 % 128,739 6.5 % Tier 1 Risk-Based Capital Ratio Consolidated 353,572 17.65 % 120,219 6.0 % 170,311 8.5 % 160,292 8.0 % Bank 417,036 20.87 % 118,836 6.0 % 168,351 8.5 % 158,448 8.0 % Total Risk-Based Capital Ratio Consolidated 477,262 23.82 % 160,292 8.0 % 210,384 10.5 % 200,366 10.0 % Bank 436,677 21.86 % 158,448 8.0 % 207,964 10.5 % 198,061 10.0 % |
Note 17 - Fair Value Measurem_2
Note 17 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | (dollars in thousands) Fair Value Measurements Using: September 30, 2020 Level 1 Level 2 Level 3 Total Assets measured at fair value: On a recurring basis: Securities available for sale Government agency securities $ — $ 1,288 $ — $ 1,288 SBA agency securities — 4,515 — 4,515 Mortgage-backed securities — 17,818 — 17,818 Collateralized mortgage obligations — 46,336 — 46,336 Commercial paper — 109,188 — 109,188 Corporate debt securities — 33,930 — 33,930 Municipal securities — 1,587 — 1,587 $ — $ 214,662 $ — $ 214,662 On a non-recurring basis: Other real estate owned — — 293 293 $ — $ — $ 293 $ 293 December 31, 2019 Level 1 Level 2 Level 3 Total Assets measured at fair value: On a recurring basis: Securities available for sale Government agency securities $ — $ 1,572 $ — $ 1,572 SBA agency securities — 4,691 — 4,691 Mortgage-backed securities — 19,171 — 19,171 Collateralized mortgage obligations — 11,654 — 11,654 Commercial paper — 69,898 — 69,898 Corporate debt securities — 19,083 — 19,083 $ — $ 126,069 $ — $ 126,069 On a non-recurring basis: Other real estate owned $ — $ — $ 293 $ 293 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | (dollars in thousands) Fair Value Valuation Unobservable Adjustment September 30, 2020 Amount Technique Input Range Other real estate owned $ 293 Third Party Appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 5% - 6% December 31, 2019 Other real estate owned $ 293 Third Party Appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 5% - 6% |
Note 18 - Fair Value of Finan_2
Note 18 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, December 31, 2020 2019 Fair Value Carrying Fair Carrying Fair (dollars in thousands) Hierarchy Value Value Value Value Financial Assets: Cash and due from banks Level 1 $ 121,630 $ 121,630 $ 114,763 $ 114,763 Federal funds sold and other cash equivalents Level 1 57,000 57,000 67,000 67,000 Interest-earning deposits in other financial institutions Level 1 600 600 600 600 Investment securities - AFS Level 2 214,662 214,662 126,069 126,069 Investment securities - HTM Level 2 7,569 7,982 8,332 8,632 Mortgage loans held for sale Level 1 23,886 24,224 108,194 109,385 Loans, net Level 3 2,728,519 2,741,656 2,178,118 2,158,970 Equity security Level 3 11,854 11,854 11,826 11,826 Mortgage and SBA serving rights Level 2 14,724 16,253 17,083 20,752 Accrued interest receivable Level 1 15,542 15,542 8,942 8,942 Financial Liabilities: Deposits Level 2 $ 2,611,748 $ 2,611,531 $ 2,248,938 $ 2,236,329 FHLB advances Level 3 190,000 189,965 — — Long-term debt Level 3 104,305 137,628 104,049 109,877 Subordinated debentures Level 3 14,229 14,562 9,673 11,709 Accrued interest payable Level 1 3,645 3,645 2,987 2,987 |
Note 19 - Earnings Per Share (T
Note 19 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended September 30, 2020 2019 (dollars in thousands except per share amounts) Income Shares Income Shares Net income as reported $ 8,520 $ 8,012 Less: Earnings allocated to participating securities (9 ) - Shares outstanding 19,739,280 20,030,866 Impact of weighting shares (21,713 ) 36,981 Used in basic EPS 8,511 19,717,568 8,012 20,067,847 Dilutive effect of outstanding Stock options 87,324 358,119 Used in dilutive EPS $ 8,511 19,804,892 $ 8,012 20,425,966 Basic earnings per common share $ 0.43 $ 0.40 Diluted earnings per common share 0.43 0.39 For the Nine Months Ended September 30, 2020 2019 (dollars in thousands except per share amounts) Income Shares Income Shares Net income as reported $ 21,781 $ 28,534 Less: Earnings allocated to participating securities $ (29 ) Shares outstanding 19,739,280 20,030,866 Impact of weighting shares 60,337 32,613 Used in basic EPS 21,752 19,799,617 28,534 20,063,479 Dilutive effect of outstanding Stock options 158,994 372,388 Used in dilutive EPS $ 21,752 19,958,612 $ 28,534 20,435,867 Basic earnings per common share $ 1.10 $ 1.42 Diluted earnings per common share 1.09 1.40 |
Note 20 - Revenue From Contra_2
Note 20 - Revenue From Contracts With Customers (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in thousands) 2020 2019 2020 2019 Non-interest income, in scope (1) Fees and service charges on deposit accounts $ 353 $ 340 $ 1,244 $ 953 Other fees (2) 254 168 513 791 Other income (3) 466 375 1,403 1,108 Gain on sale of fixed assets — 11 — 17 Total in-scope non-interest income 1,073 894 3,160 2,869 Non-interest income, not in scope (4) 1,654 1,905 6,390 9,628 Total non-interest income $ 2,727 $ 2,799 $ 9,550 $ 12,497 |
Note 1 - Business Description (
Note 1 - Business Description (Details Textual) $ in Thousands | 102 Months Ended | ||||||
Jan. 10, 2020 | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Assets, Total | $ 3,359,576 | $ 2,788,535 | |||||
Loans Held for Investment and Held for Sale, Gross | 2,800,000 | ||||||
Deposits, Total | 2,611,748 | 2,248,938 | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance | $ 421,416 | $ 414,025 | $ 407,690 | $ 398,841 | $ 393,820 | $ 374,621 | |
Number of Businesses Acquired | 6 | ||||||
PGB Holdings Inc. [Member] | |||||||
Number of Branches | 3 | ||||||
PGB Holdings Inc. [Member] | ILLINOIS | |||||||
Number of Branches | 3 |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2021 | Sep. 30, 2020 | Dec. 31, 2019 |
Loans and Leases Receivable, before Fees, Gross | $ 2,760,572 | $ 2,201,597 | |
Percentage of Gross Loans with LIBOR Based Reference Rate | 15.00% | ||
Forecast [Member] | Minimum [Member] | |||
Operating Lease, Right-of-Use Asset | $ 25,000 | ||
Operating Lease, Liability, Total | 25,000 | ||
Forecast [Member] | Maximum [Member] | |||
Operating Lease, Right-of-Use Asset | 30,000 | ||
Operating Lease, Liability, Total | $ 30,000 |
Note 3 - Acquisition (Details T
Note 3 - Acquisition (Details Textual) $ in Thousands | Jan. 10, 2020USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Payments to Acquire Businesses, Gross | $ 32,885 | ||
Goodwill, Ending Balance | 10,680 | $ 69,243 | $ 58,563 |
PGB Holdings Inc. [Member] | |||
Payments to Acquire Businesses, Gross | $ 32,900 | ||
Number of Branches | 3 | ||
Goodwill, Ending Balance | $ 10,700 |
Note 3 - Acquisition - Assets A
Note 3 - Acquisition - Assets Acquired and Liabilities Assumed, and Fair Value Adjustments (Details) - USD ($) $ in Thousands | Jan. 10, 2020 | Sep. 30, 2020 | Dec. 31, 2019 |
Cash and cash equivalents | $ 17,033 | ||
Fed funds sold | 8,300 | ||
Interest-bearing deposits in other financial Institutions | 14,186 | ||
Investments - held to maturity | 0 | ||
Investments - available for sale | 0 | ||
Mortgage loans held for sale | 0 | ||
Loans, gross | 173,109 | ||
Allowance for loan losses | 0 | ||
Bank premises and equipment | 8,033 | ||
Mortgage servicing rights | 0 | ||
Core deposit premium | 491 | ||
Investment in trust | 155 | ||
Other assets | 1,493 | ||
Total assets acquired | 222,800 | ||
Deposits | 188,362 | ||
Escrow Payable | 4,277 | ||
Subordinated debentures | 4,392 | ||
Deferred income taxes | 2,737 | ||
Other liabilities | 827 | ||
Total liabilities assumed | 200,595 | ||
Excess of assets acquired over liabilities assumed | 22,205 | ||
Cash paid | 32,885 | ||
Goodwill recognized | 10,680 | $ 69,243 | $ 58,563 |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 17,033 | ||
Fed funds sold | 8,300 | ||
Interest-bearing deposits in other financial Institutions | 14,186 | ||
Investments - held to maturity | 0 | ||
Investments - available for sale | 0 | ||
Mortgage loans held for sale | 0 | ||
Loans, gross | 172,443 | ||
Allowance for loan losses | (2,265) | ||
Bank premises and equipment | 6,394 | ||
Mortgage servicing rights | 0 | ||
Core deposit premium | 0 | ||
Investment in trust | 155 | ||
Other assets | 1,687 | ||
Total assets acquired | 217,933 | ||
Deposits | 187,393 | ||
Escrow Payable | 4,277 | ||
Subordinated debentures | 5,155 | ||
Deferred income taxes | 1,016 | ||
Other liabilities | 1,211 | ||
Total liabilities assumed | 199,052 | ||
Excess of assets acquired over liabilities assumed | 18,881 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total | 217,933 | ||
Changes Measurement [Member] | |||
Cash and cash equivalents | 0 | ||
Fed funds sold | 0 | ||
Interest-bearing deposits in other financial Institutions | 0 | ||
Investments - held to maturity | 0 | ||
Investments - available for sale | 0 | ||
Mortgage loans held for sale | 0 | ||
Loans, gross | 666 | ||
Allowance for loan losses | 2,265 | ||
Bank premises and equipment | 1,639 | ||
Mortgage servicing rights | 0 | ||
Core deposit premium | 491 | ||
Investment in trust | 0 | ||
Other assets | (194) | ||
Total assets acquired | 4,867 | ||
Deposits | 969 | ||
Escrow Payable | 0 | ||
Subordinated debentures | (763) | ||
Deferred income taxes | 1,721 | ||
Other liabilities | (384) | ||
Total liabilities assumed | 1,543 | ||
Excess of assets acquired over liabilities assumed | 3,324 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total | $ 4,867 |
Note 3 - Acquisition - Schedule
Note 3 - Acquisition - Schedule of Loans Acquired (Details) - PGB Holdings Inc. [Member] $ in Thousands | Jan. 10, 2020USD ($) |
Contractual amounts due | $ 195,227 |
Cash flows not expected to be collected | 5,176 |
Expected cash flows | 190,051 |
Interest component of expected cash flows | 16,942 |
Fair value of acquired loans | $ 173,109 |
Note 3 - Acquisition - Schedu_2
Note 3 - Acquisition - Schedule of Net Interest and Other Income, Net Income, and Earnings Per Share (Details) - PGB Holdings Inc. [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net interest and other income | $ 29,978 | $ 28,715 | $ 85,662 | $ 92,856 |
Net income | $ 8,520 | $ 8,531 | $ 20,615 | $ 30,432 |
Basic earnings per share (in dollars per share) | $ 0.43 | $ 0.43 | $ 1.04 | $ 1.52 |
Diluted earnings per share (in dollars per share) | $ 0.43 | $ 0.42 | $ 1.03 | $ 1.49 |
Note 4 - Investment Securitie_2
Note 4 - Investment Securities (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Security Owned and Pledged as Collateral, Fair Value, Total | $ 418,000 | $ 418,000 | $ 627,000 | ||
Proceeds from Sale of Debt Securities, Available-for-sale | 3,800,000 | 11,661,000 | $ 6,136,000 | ||
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | 52,000 | $ 7,000 | 210,000 | 7,000 | |
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | 0 | $ 0 | 0 | $ 147,000 | |
Equity Securities without Readily Determinable Fair Value, Amount | $ 11,900,000 | $ 11,900,000 | $ 11,800,000 |
Note 4 - Investment Securitie_3
Note 4 - Investment Securities - Amortized Cost and Fair Value of Available for Sale Securities and Held to Maturity Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Available for sale, amortized cost | $ 213,221 | $ 125,729 |
Available for sale, gross unrealized gains | 1,616 | 435 |
Available for sale, gross unrealized losses | (175) | (95) |
Available for sale | 214,662 | 126,069 |
Held to maturity (fair value of $7,982 and $8,632 at September 30, 2020 and December 31, 2019, respectively) | 7,569 | 8,332 |
Held to maturity, gross unrealized gains | 413 | 300 |
Held to maturity, gross unrealized losses | 0 | 0 |
Securities held to maturity, fair value | 7,982 | 8,632 |
US Government Agencies Debt Securities [Member] | ||
Available for sale, amortized cost | 1,258 | 1,591 |
Available for sale, gross unrealized gains | 30 | 0 |
Available for sale, gross unrealized losses | 0 | (19) |
Available for sale | 1,288 | 1,572 |
Small Business Administration Agency Securities [Member] | ||
Available for sale, amortized cost | 4,262 | 4,671 |
Available for sale, gross unrealized gains | 253 | 42 |
Available for sale, gross unrealized losses | 0 | (22) |
Available for sale | 4,515 | 4,691 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale, amortized cost | 17,530 | 19,126 |
Available for sale, gross unrealized gains | 294 | 74 |
Available for sale, gross unrealized losses | (6) | (29) |
Available for sale | 17,818 | 19,171 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale, amortized cost | 45,948 | 11,641 |
Available for sale, gross unrealized gains | 479 | 38 |
Available for sale, gross unrealized losses | (91) | (25) |
Available for sale | 46,336 | 11,654 |
Commercial Paper [Member] | ||
Available for sale, amortized cost | 109,188 | |
Available for sale, gross unrealized gains | 0 | |
Available for sale, gross unrealized losses | 0 | |
Available for sale | 109,188 | |
Corporate Debt Securities [Member] | ||
Available for sale, amortized cost | 33,412 | 88,700 |
Available for sale, gross unrealized gains | 560 | 281 |
Available for sale, gross unrealized losses | (42) | 0 |
Available for sale | 33,930 | 88,981 |
Municipal Bonds [Member] | ||
Available for sale, amortized cost | 1,623 | |
Available for sale, gross unrealized gains | 0 | |
Available for sale, gross unrealized losses | (36) | |
Available for sale | 1,587 | |
Held to maturity (fair value of $7,982 and $8,632 at September 30, 2020 and December 31, 2019, respectively) | 4,772 | 4,827 |
Held to maturity, gross unrealized gains | 257 | 153 |
Held to maturity, gross unrealized losses | 0 | 0 |
Securities held to maturity, fair value | 5,029 | 4,980 |
Taxable Municipal Bonds [Member] | ||
Held to maturity (fair value of $7,982 and $8,632 at September 30, 2020 and December 31, 2019, respectively) | 2,797 | 3,505 |
Held to maturity, gross unrealized gains | 156 | 147 |
Held to maturity, gross unrealized losses | 0 | 0 |
Securities held to maturity, fair value | $ 2,953 | $ 3,652 |
Note 4 - Investment Securitie_4
Note 4 - Investment Securities - Expected Maturities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Less than one year, Available for sale, Amortized Cost | $ 114,199 | $ 74,577 |
Less than one year, Available for sale, Estimated Fair Value | 114,233 | 74,598 |
More than one year to five years, Available for sale, Amortized Cost | 44,937 | 26,622 |
Available for sale, Estimated Fair Value, More than one year to five years | 45,737 | 26,629 |
More than five years to ten years, Available for sale, Amortized Cost | 48,462 | 20,518 |
More than five years to ten years, Available for sale, Estimated Fair Value | 49,107 | 20,812 |
More than ten years, Available for sale, Amortized Cost | 5,623 | 4,012 |
More than ten years, Available for sale, Estimated Fair Value | 5,585 | 4,030 |
Available for sale, amortized cost | 213,221 | 125,729 |
Available for sale | 214,662 | 126,069 |
Less than one year, Held to Maturity, Amortized Cost | 979 | 285 |
Held to maturity, Estimated Fair Value | 998 | 289 |
More than one year to five years, Held to maturity, Amortized Cost | 1,818 | 2,756 |
More than one year to five years, Held to Maturity, Estimated Fair Value | 1,955 | 2,824 |
More than five years to ten years, Held to maturity Amortized Cost | 874 | 870 |
More than five years to ten years, Held to Maturity, Amortized Cost | 922 | 958 |
More than ten years, Held to Maturity, Amortized Cost | 3,898 | 4,421 |
More than ten years, Held to Maturity, Estimated Fair Value | 4,107 | 4,561 |
Held to maturity (fair value of $7,982 and $8,632 at September 30, 2020 and December 31, 2019, respectively) | 7,569 | 8,332 |
Securities held to maturity, fair value | 7,982 | 8,632 |
US Government Agencies Debt Securities [Member] | ||
Less than one year, Available for sale, Amortized Cost | 0 | 0 |
Less than one year, Available for sale, Estimated Fair Value | 0 | 0 |
More than one year to five years, Available for sale, Amortized Cost | 1,258 | 1,591 |
Available for sale, Estimated Fair Value, More than one year to five years | 1,288 | 1,572 |
More than five years to ten years, Available for sale, Amortized Cost | 0 | 0 |
More than five years to ten years, Available for sale, Estimated Fair Value | 0 | 0 |
More than ten years, Available for sale, Amortized Cost | 0 | 0 |
More than ten years, Available for sale, Estimated Fair Value | 0 | 0 |
Available for sale, amortized cost | 1,258 | 1,591 |
Available for sale | 1,288 | 1,572 |
Small Business Administration Agency Securities [Member] | ||
Less than one year, Available for sale, Amortized Cost | 0 | 0 |
Less than one year, Available for sale, Estimated Fair Value | 0 | 0 |
More than one year to five years, Available for sale, Amortized Cost | 596 | 714 |
Available for sale, Estimated Fair Value, More than one year to five years | 629 | 725 |
More than five years to ten years, Available for sale, Amortized Cost | 3,666 | 3,957 |
More than five years to ten years, Available for sale, Estimated Fair Value | 3,886 | 3,966 |
More than ten years, Available for sale, Amortized Cost | 0 | 0 |
More than ten years, Available for sale, Estimated Fair Value | 0 | 0 |
Available for sale, amortized cost | 4,262 | 4,671 |
Available for sale | 4,515 | 4,691 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than one year, Available for sale, Amortized Cost | 3,010 | 3,663 |
Less than one year, Available for sale, Estimated Fair Value | 3,014 | 3,679 |
More than one year to five years, Available for sale, Amortized Cost | 14,520 | 13,027 |
Available for sale, Estimated Fair Value, More than one year to five years | 14,804 | 13,059 |
More than five years to ten years, Available for sale, Amortized Cost | 0 | 2,436 |
More than five years to ten years, Available for sale, Estimated Fair Value | 0 | 2,433 |
More than ten years, Available for sale, Amortized Cost | 0 | 0 |
More than ten years, Available for sale, Estimated Fair Value | 0 | 0 |
Available for sale, amortized cost | 17,530 | 19,126 |
Available for sale | 17,818 | 19,171 |
Collateralized Mortgage Obligations [Member] | ||
Less than one year, Available for sale, Amortized Cost | 0 | 0 |
Less than one year, Available for sale, Estimated Fair Value | 0 | 0 |
More than one year to five years, Available for sale, Amortized Cost | 13,895 | 9,288 |
Available for sale, Estimated Fair Value, More than one year to five years | 14,274 | 9,265 |
More than five years to ten years, Available for sale, Amortized Cost | 32,053 | 2,353 |
More than five years to ten years, Available for sale, Estimated Fair Value | 32,062 | 2,389 |
More than ten years, Available for sale, Amortized Cost | 0 | 0 |
More than ten years, Available for sale, Estimated Fair Value | 0 | 0 |
Available for sale, amortized cost | 45,948 | 11,641 |
Available for sale | 46,336 | 11,654 |
Commercial Paper [Member] | ||
Less than one year, Available for sale, Amortized Cost | 109,188 | |
Less than one year, Available for sale, Estimated Fair Value | 109,188 | |
More than one year to five years, Available for sale, Amortized Cost | 0 | |
Available for sale, Estimated Fair Value, More than one year to five years | 0 | |
More than five years to ten years, Available for sale, Amortized Cost | 0 | |
More than five years to ten years, Available for sale, Estimated Fair Value | 0 | |
More than ten years, Available for sale, Amortized Cost | 0 | |
More than ten years, Available for sale, Estimated Fair Value | 0 | |
Available for sale, amortized cost | 109,188 | |
Available for sale | 109,188 | |
Corporate Debt Securities [Member] | ||
Less than one year, Available for sale, Amortized Cost | 2,001 | 70,914 |
Less than one year, Available for sale, Estimated Fair Value | 2,031 | 70,919 |
More than one year to five years, Available for sale, Amortized Cost | 14,668 | 2,002 |
Available for sale, Estimated Fair Value, More than one year to five years | 14,742 | 2,008 |
More than five years to ten years, Available for sale, Amortized Cost | 12,743 | 11,772 |
More than five years to ten years, Available for sale, Estimated Fair Value | 13,159 | 12,024 |
More than ten years, Available for sale, Amortized Cost | 4,000 | 4,012 |
More than ten years, Available for sale, Estimated Fair Value | 3,998 | 4,030 |
Available for sale, amortized cost | 33,412 | 88,700 |
Available for sale | 33,930 | 88,981 |
Municipal Bonds [Member] | ||
Less than one year, Available for sale, Amortized Cost | 0 | |
Less than one year, Available for sale, Estimated Fair Value | 0 | |
More than one year to five years, Available for sale, Amortized Cost | 0 | |
Available for sale, Estimated Fair Value, More than one year to five years | 0 | |
More than five years to ten years, Available for sale, Amortized Cost | 0 | |
More than five years to ten years, Available for sale, Estimated Fair Value | 0 | |
More than ten years, Available for sale, Amortized Cost | 1,623 | |
More than ten years, Available for sale, Estimated Fair Value | 1,587 | |
Available for sale, amortized cost | 1,623 | |
Available for sale | 1,587 | |
Less than one year, Held to Maturity, Amortized Cost | 0 | 0 |
Held to maturity, Estimated Fair Value | 0 | 0 |
More than one year to five years, Held to maturity, Amortized Cost | 0 | 40 |
More than one year to five years, Held to Maturity, Estimated Fair Value | 0 | 40 |
More than five years to ten years, Held to maturity Amortized Cost | 874 | 366 |
More than five years to ten years, Held to Maturity, Amortized Cost | 922 | 379 |
More than ten years, Held to Maturity, Amortized Cost | 3,898 | 4,421 |
More than ten years, Held to Maturity, Estimated Fair Value | 4,107 | 4,561 |
Held to maturity (fair value of $7,982 and $8,632 at September 30, 2020 and December 31, 2019, respectively) | 4,772 | 4,827 |
Securities held to maturity, fair value | 5,029 | 4,980 |
Taxable Municipal Bonds [Member] | ||
Less than one year, Held to Maturity, Amortized Cost | 979 | 285 |
Held to maturity, Estimated Fair Value | 998 | 289 |
More than one year to five years, Held to maturity, Amortized Cost | 1,818 | 2,716 |
More than one year to five years, Held to Maturity, Estimated Fair Value | 1,955 | 2,784 |
More than five years to ten years, Held to maturity Amortized Cost | 0 | 504 |
More than five years to ten years, Held to Maturity, Amortized Cost | 0 | 579 |
More than ten years, Held to Maturity, Amortized Cost | 0 | 0 |
More than ten years, Held to Maturity, Estimated Fair Value | 0 | 0 |
Held to maturity (fair value of $7,982 and $8,632 at September 30, 2020 and December 31, 2019, respectively) | 2,797 | 3,505 |
Securities held to maturity, fair value | $ 2,953 | $ 3,652 |
Note 4 - Investment Securitie_5
Note 4 - Investment Securities - Summary of Investment Securities With Unrealized Losses (Details) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Less than Twelve Months Unrealized Losses, available for sale | $ (175) | $ (56) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 46,803 | $ 11,410 |
Available for sale, Total No. of Issuances, less than twelve months | 15 | 11 |
Twelve Months or More Unrealized Losses | $ 0 | $ 39 |
Twelve Months or More Estimated Fair Value, available for sale | $ 0 | $ 4,865 |
Twelve Months or More No. of Issuances, available for sale | 0 | 8 |
Total Unrealized Losses, available for sale | $ (175) | $ (95) |
Total Estimated Fair Value, available for sale | $ 46,803 | $ 16,275 |
Available for sale, Total No. of Issuances | 15 | 19 |
Available for sale, Total No. of Issuances | 15 | 19 |
Less than Twelve Months Unrealized Losses, held to maturity | $ 0 | $ 0 |
Less than Twelve Months Estimated Fair Value, held to maturity | $ 0 | $ 0 |
Held to maturity, Total No. of Issuances, less than twelve months | 0 | 0 |
Twelve Months or More Unrealized Losses, held to maturity | $ 0 | $ 0 |
Twelve Months or More Estimated Fair Value, held to maturity | $ 0 | $ 0 |
Twelve Months or More No. of Issuances, held to maturity | 0 | 0 |
Total Unrealized Losses, held to maturity | $ 0 | $ 0 |
Total Estimated Fair Value, held to maturity | $ 0 | $ 0 |
Held to maturity, Total No. of Issuances | 0 | 0 |
Twelve Months or More Unrealized Losses | $ 0 | $ (39) |
Held to maturity, Total No. of Issuances | 0 | 0 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | $ (6) | $ (5) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 9,998 | $ 2,631 |
Available for sale, Total No. of Issuances, less than twelve months | 2 | 4 |
Twelve Months or More Unrealized Losses | $ 0 | $ 24 |
Twelve Months or More Estimated Fair Value, available for sale | $ 0 | $ 3,912 |
Twelve Months or More No. of Issuances, available for sale | 0 | 6 |
Total Unrealized Losses, available for sale | $ (6) | $ (29) |
Total Estimated Fair Value, available for sale | $ 9,998 | $ 6,543 |
Available for sale, Total No. of Issuances | 2 | 10 |
Available for sale, Total No. of Issuances | 2 | 10 |
Twelve Months or More Unrealized Losses | $ 0 | $ (24) |
Collateralized Mortgage Obligations [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (91) | (10) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 29,260 | $ 5,738 |
Available for sale, Total No. of Issuances, less than twelve months | 6 | 3 |
Twelve Months or More Unrealized Losses | $ 15 | |
Twelve Months or More Estimated Fair Value, available for sale | $ 953 | |
Twelve Months or More No. of Issuances, available for sale | 2 | |
Total Unrealized Losses, available for sale | $ (91) | $ (25) |
Total Estimated Fair Value, available for sale | $ 29,260 | $ 6,691 |
Available for sale, Total No. of Issuances | 6 | 5 |
Available for sale, Total No. of Issuances | 6 | 5 |
Twelve Months or More Unrealized Losses | $ (15) | |
Corporate Debt Securities [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (42) | |
Less than Twelve Months Estimated Fair Value, available for sale | $ 5,958 | |
Available for sale, Total No. of Issuances, less than twelve months | 4 | |
Twelve Months or More Unrealized Losses | $ 0 | |
Twelve Months or More Estimated Fair Value, available for sale | $ 0 | |
Twelve Months or More No. of Issuances, available for sale | 0 | |
Total Unrealized Losses, available for sale | $ (42) | |
Total Estimated Fair Value, available for sale | $ 5,958 | |
Available for sale, Total No. of Issuances | 4 | |
Available for sale, Total No. of Issuances | 4 | |
Twelve Months or More Unrealized Losses | $ 0 | |
Municipal Bonds [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (36) | |
Less than Twelve Months Estimated Fair Value, available for sale | $ 1,587 | |
Available for sale, Total No. of Issuances, less than twelve months | 3 | |
Twelve Months or More Unrealized Losses | ||
Twelve Months or More Estimated Fair Value, available for sale | ||
Twelve Months or More No. of Issuances, available for sale | ||
Total Unrealized Losses, available for sale | $ (36) | |
Total Estimated Fair Value, available for sale | $ 1,587 | |
Available for sale, Total No. of Issuances | 3 | |
Available for sale, Total No. of Issuances | 3 | |
Twelve Months or More Unrealized Losses | ||
US Government Agencies Debt Securities [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (19) | |
Less than Twelve Months Estimated Fair Value, available for sale | $ 1,572 | |
Available for sale, Total No. of Issuances, less than twelve months | 2 | |
Twelve Months or More Unrealized Losses | $ 0 | |
Twelve Months or More Estimated Fair Value, available for sale | $ 0 | |
Twelve Months or More No. of Issuances, available for sale | 0 | |
Total Unrealized Losses, available for sale | $ (19) | |
Total Estimated Fair Value, available for sale | $ 1,572 | |
Available for sale, Total No. of Issuances | 2 | |
Available for sale, Total No. of Issuances | 2 | |
Twelve Months or More Unrealized Losses | $ 0 | |
Small Business Administration Agency Securities [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (22) | |
Less than Twelve Months Estimated Fair Value, available for sale | $ 1,469 | |
Available for sale, Total No. of Issuances, less than twelve months | 2 | |
Twelve Months or More Unrealized Losses | $ 0 | |
Twelve Months or More Estimated Fair Value, available for sale | $ 0 | |
Twelve Months or More No. of Issuances, available for sale | 0 | |
Total Unrealized Losses, available for sale | $ (22) | |
Total Estimated Fair Value, available for sale | $ 1,469 | |
Available for sale, Total No. of Issuances | 2 | |
Available for sale, Total No. of Issuances | 2 | |
Twelve Months or More Unrealized Losses | $ 0 |
Note 5 - Loans and Allowance _3
Note 5 - Loans and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) | |
Financing Receivable Number Of Loans90 Days Past Due And Still Accruing | $ 0 | $ 0 | $ 0 | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | $ 0 | $ 0 | $ 0 | $ 0 | |
Number Of Loans Identified As Troubled Debt Restructurings | 6 | 6 | 4 | ||
Financing Receivable, Troubled Debt Restructuring | $ 3.1 | $ 3.1 | $ 1,800,000 | ||
Financing Receivable, Nonaccrual Troubled Debt Restructuring | 1.1 | 1.1 | 0 | ||
Allowance For Credit Losses Reserve, Change In Method Of Calculating Impairment | 26,634,000 | $ 19,386,000 | 26,634,000 | $ 19,386,000 | 18,816,000 |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | 0 | ||
Financing Receivable, Modifications, Number of Contracts | 1 | 0 | 3 | 1 | |
Specific Reserve [Member] | |||||
Allowance For Credit Losses Reserve, Change In Method Of Calculating Impairment | $ 436,000 | $ 430,000 | $ 436,000 | $ 430,000 | 0 |
Specific Reserve [Member] | One Loan [Member] | |||||
Allowance For Credit Losses Reserve, Change In Method Of Calculating Impairment | $ 0 | $ 0 | $ 0 |
Note 5 - Loans and Allowance _4
Note 5 - Loans and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Beginning balance | $ 22,820 | $ 18,561 | $ 18,816 | $ 17,577 | $ 17,577 |
Provision for loan losses | 3,861 | 824 | 8,815 | 1,731 | 2,390 |
Charge-offs on loans | (48) | 0 | (998) | 110 | (1,259) |
Recoveries on loans | 1 | 1 | 1 | 108 | |
Ending balance | 26,634 | 19,386 | 26,634 | 19,386 | 18,816 |
Recoveries on loans | (32) | ||||
Loan losses, Reserves | 26,634 | 19,386 | 26,634 | 19,386 | 18,816 |
Individually | 17,976 | 9,628 | 17,976 | 9,628 | 13,218 |
Collectively | 2,737,177 | 2,116,517 | 2,737,177 | 2,116,517 | 2,183,716 |
Total loans, net of deferred loan fees | 2,755,153 | 2,126,145 | 2,755,153 | 2,126,145 | 2,196,934 |
Specific Reserve [Member] | |||||
Loan losses, Reserves | 436 | 430 | 436 | 430 | 0 |
General Reserves [Member] | |||||
Loan losses, Reserves | 26,198 | 18,956 | 26,198 | 18,956 | 18,816 |
Commercial Real Estate Portfolio Segment [Member] | |||||
Beginning balance | 18,985 | 14,582 | 15,118 | 13,437 | 13,437 |
Provision for loan losses | 2,858 | 558 | 6,725 | 1,703 | 1,847 |
Charge-offs on loans | 0 | 0 | 0 | 0 | (166) |
Recoveries on loans | 0 | 0 | 0 | 0 | 0 |
Ending balance | 21,843 | 15,140 | 21,843 | 15,140 | 15,118 |
Loan losses, Reserves | 21,843 | 15,140 | 21,843 | 15,140 | 15,118 |
Individually | 6,119 | 4,537 | 6,119 | 4,537 | 3,795 |
Collectively | 2,316,619 | 1,773,616 | 2,316,619 | 1,773,616 | 1,842,747 |
Total loans, net of deferred loan fees | 2,322,738 | 1,778,153 | 2,322,738 | 1,778,153 | 1,846,542 |
Commercial Real Estate Portfolio Segment [Member] | Specific Reserve [Member] | |||||
Loan losses, Reserves | 0 | 127 | 0 | 127 | 0 |
Commercial Real Estate Portfolio Segment [Member] | General Reserves [Member] | |||||
Loan losses, Reserves | 21,843 | 15,013 | 21,843 | 15,013 | 15,118 |
Commercial Portfolio Segment [Member] | |||||
Beginning balance | 3,813 | 3,976 | 3,588 | 4,140 | 4,140 |
Provision for loan losses | 990 | 25 | 2,165 | (216) | 433 |
Charge-offs on loans | (48) | 0 | (998) | 110 | (1,093) |
Recoveries on loans | 1 | 1 | 1 | 108 | |
Ending balance | 4,756 | 4,002 | 4,756 | 4,002 | 3,588 |
Recoveries on loans | (32) | ||||
Loan losses, Reserves | 4,756 | 4,002 | 4,756 | 4,002 | 3,588 |
Individually | 11,842 | 5,091 | 11,842 | 5,091 | 9,423 |
Collectively | 417,242 | 342,365 | 417,242 | 342,365 | 340,148 |
Total loans, net of deferred loan fees | 429,084 | 347,456 | 429,084 | 347,456 | 349,571 |
Commercial Portfolio Segment [Member] | Specific Reserve [Member] | |||||
Loan losses, Reserves | 436 | 303 | 436 | 303 | 0 |
Commercial Portfolio Segment [Member] | General Reserves [Member] | |||||
Loan losses, Reserves | 4,320 | 3,699 | 4,320 | 3,699 | 3,588 |
Other Financing Receivables [Member] | |||||
Beginning balance | 22 | 3 | 9 | 0 | 0 |
Provision for loan losses | 13 | 3 | 26 | 6 | 9 |
Charge-offs on loans | 0 | 0 | 0 | 0 | 0 |
Recoveries on loans | 0 | 0 | 0 | 0 | 0 |
Ending balance | 35 | 6 | 35 | 6 | 9 |
Loan losses, Reserves | 35 | 6 | 35 | 6 | 9 |
Individually | 15 | 0 | 15 | 0 | 0 |
Collectively | 3,316 | 536 | 3,316 | 536 | 821 |
Total loans, net of deferred loan fees | 3,331 | 536 | 3,331 | 536 | 821 |
Other Financing Receivables [Member] | Specific Reserve [Member] | |||||
Loan losses, Reserves | 0 | 0 | 0 | 0 | 0 |
Other Financing Receivables [Member] | General Reserves [Member] | |||||
Loan losses, Reserves | 35 | 6 | 35 | 6 | 9 |
Unallocated Financing Receivables [Member] | |||||
Beginning balance | 0 | 0 | 101 | 0 | 0 |
Provision for loan losses | 0 | 238 | (101) | 238 | 101 |
Charge-offs on loans | 0 | 0 | 0 | 0 | 0 |
Recoveries on loans | 0 | 0 | 0 | 0 | 0 |
Ending balance | 0 | 238 | 0 | 238 | 101 |
Loan losses, Reserves | 0 | 238 | 0 | 238 | 101 |
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 0 | 0 | 0 | 0 | 0 |
Total loans, net of deferred loan fees | 0 | 0 | 0 | 0 | 0 |
Unallocated Financing Receivables [Member] | Specific Reserve [Member] | |||||
Loan losses, Reserves | 0 | 0 | 0 | 0 | 0 |
Unallocated Financing Receivables [Member] | General Reserves [Member] | |||||
Loan losses, Reserves | $ 0 | $ 238 | $ 0 | $ 238 | $ 101 |
Note 5 - Loans and Allowance _5
Note 5 - Loans and Allowance for Loan Losses - Risk Category of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Total Loans | [1] | $ 2,755,153 | $ 2,196,934 |
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Total Loans | [1] | 183,569 | 96,020 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Total Loans | [1] | 975,187 | 793,268 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | [1] | 1,163,982 | 957,254 |
Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | [1] | 317,891 | 274,586 |
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | [1] | 111,193 | 74,985 |
Other Financing Receivables [Member] | |||
Total Loans | [1] | 3,331 | 821 |
Pass [Member] | |||
Total Loans | 2,664,349 | 2,146,181 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Total Loans | 182,808 | 95,756 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Total Loans | 913,868 | 767,603 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | 1,158,935 | 955,327 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | 308,412 | 265,178 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | 97,010 | 61,496 | |
Pass [Member] | Other Financing Receivables [Member] | |||
Total Loans | 3,316 | 821 | |
Special Mention [Member] | |||
Total Loans | 8,250 | 9,620 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Total Loans | 0 | 0 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Total Loans | 5,980 | 5,353 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | 2,083 | 0 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | 0 | 4,078 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | 187 | 189 | |
Special Mention [Member] | Other Financing Receivables [Member] | |||
Total Loans | 0 | 0 | |
Substandard [Member] | |||
Total Loans | 64,578 | 27,915 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Total Loans | 0 | 0 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Total Loans | 52,728 | 18,115 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | 217 | 593 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | 7,354 | 5,330 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | 4,279 | 3,877 | |
Substandard [Member] | Other Financing Receivables [Member] | |||
Total Loans | 0 | 0 | |
Impaired [Member] | |||
Total Loans | 17,976 | 13,218 | |
Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Total Loans | 761 | 264 | |
Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Total Loans | 2,611 | 2,197 | |
Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | 2,747 | 1,334 | |
Impaired [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | 2,125 | 0 | |
Impaired [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | 9,717 | 9,423 | |
Impaired [Member] | Other Financing Receivables [Member] | |||
Total Loans | $ 15 | $ 0 | |
[1] | Loans, net of deferred fees |
Note 5 - Loans and Allowance _6
Note 5 - Loans and Allowance for Loan Losses - Aging of Recorded Investment (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | ||
Total Past Due | $ 35,922 | $ 15,830 | ||
Loans Not Past Due | 2,719,231 | 2,181,104 | ||
Total Loans | [1] | 2,755,153 | 2,196,934 | |
Non-accrual Loans | 15,993 | 11,437 | [2] | |
Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Total Past Due | 9,998 | 3,717 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Total Past Due | 13,019 | 1,560 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Total Past Due | 12,905 | 10,553 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | ||||
Total Past Due | 761 | 0 | ||
Loans Not Past Due | 182,808 | 96,020 | ||
Total Loans | [1] | 183,569 | 96,020 | |
Non-accrual Loans | [2] | 761 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Total Past Due | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Total Past Due | 400 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Total Past Due | 361 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | ||||
Total Past Due | 20,537 | 725 | ||
Loans Not Past Due | 954,650 | 792,543 | ||
Total Loans | 975,187 | 793,268 | ||
Non-accrual Loans | [2] | 1,168 | 725 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Total Past Due | 7,578 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Total Past Due | 11,791 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Total Past Due | 1,168 | 725 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | ||||
Total Past Due | 3,998 | 3,464 | ||
Loans Not Past Due | 1,159,984 | 953,790 | ||
Total Loans | [1] | 1,163,982 | 957,254 | |
Non-accrual Loans | [2] | 2,747 | 1,334 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Total Past Due | 2,408 | 1,454 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Total Past Due | 791 | 1,560 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Total Past Due | 799 | 450 | ||
Commercial Portfolio Segment [Member] | Other Loans [Member] | ||||
Total Past Due | 882 | 0 | ||
Loans Not Past Due | 317,009 | 274,586 | ||
Total Loans | [1] | 317,891 | 274,586 | |
Non-accrual Loans | [2] | 1,622 | 0 | |
Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Total Past Due | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Total Past Due | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Total Past Due | 882 | 0 | ||
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | ||||
Total Past Due | 9,717 | 11,641 | ||
Loans Not Past Due | 101,476 | 63,344 | ||
Total Loans | [1] | 111,193 | 74,985 | |
Non-accrual Loans | [2] | 9,680 | 9,378 | |
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Total Past Due | 0 | 2,263 | ||
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Total Past Due | 37 | 0 | ||
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Total Past Due | 9,680 | 9,378 | ||
Other Financing Receivables [Member] | ||||
Total Past Due | 27 | 0 | ||
Loans Not Past Due | 3,304 | 821 | ||
Total Loans | [1] | 3,331 | 821 | |
Non-accrual Loans | [2] | 15 | 0 | |
Other Financing Receivables [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Total Past Due | 12 | 0 | ||
Other Financing Receivables [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Total Past Due | 0 | 0 | ||
Other Financing Receivables [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Total Past Due | $ 15 | $ 0 | ||
[1] | Loans, net of deferred fees | |||
[2] | Included in total loans. |
Note 5 - Loans and Allowance _7
Note 5 - Loans and Allowance for Loan Losses - Individually Impaired Loan (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Principal Balance | $ 18,159 | $ 13,234 |
Recorded Investment | 17,976 | 13,218 |
Related Allowance | 436 | 0 |
Construction And Land Development Loans [Member] | ||
Principal Balance, With no related allowance recorded | 761 | 264 |
Recorded Investment, With no related allowance recorded | 761 | 264 |
Commercial and Industrial Sector [Member] | ||
Principal Balance, With no related allowance recorded | 1,764 | |
Recorded Investment, With no related allowance recorded | 1,713 | |
Principal Balance, With related allowance recorded | 430 | |
Recorded Investment, With related allowance recorded | 412 | |
Related Allowance, with related allowance recorded | 430 | |
Commercial Real Estate [Member] | ||
Principal Balance, With no related allowance recorded | 2,611 | 2,198 |
Recorded Investment, With no related allowance recorded | 2,611 | 2,197 |
Residential Mortgage [Member] | ||
Principal Balance, With no related allowance recorded | 2,846 | 1,349 |
Recorded Investment, With no related allowance recorded | 2,747 | 1,334 |
Small Business Administration Loans [Member] | Commercial Portfolio Segment [Member] | ||
Principal Balance, With no related allowance recorded | 9,695 | 9,423 |
Recorded Investment, With no related allowance recorded | 9,680 | 9,423 |
Recorded Investment, With related allowance recorded | 0 | |
Related Allowance, with related allowance recorded | $ 0 | |
Other Financing Receivables [Member] | ||
Principal Balance, With no related allowance recorded | 15 | |
Recorded Investment, With no related allowance recorded | 15 | |
Single Family Residential Mortgages Loans [Member] | ||
Principal Balance, With related allowance recorded | 37 | |
Recorded Investment, With related allowance recorded | 37 | |
Related Allowance, with related allowance recorded | $ 6 |
Note 5 - Loans and Allowance _8
Note 5 - Loans and Allowance for Loan Losses - Impairment Loans and Leases, Disaggregated by Loan Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Average balance with related allowance | $ 18,643 | $ 9,754 | $ 21,248 | $ 9,771 |
Interest income with related allowance | 33 | 176 | 103 | 222 |
Other Financing Receivables [Member] | ||||
Interest income with no related allowance | 0 | 0 | 0 | |
Construction And Land Development Loans [Member] | ||||
Average balance with no related allowance | 762 | 269 | 765 | 271 |
Interest income with no related allowance | 0 | 18 | 0 | 24 |
Commercial and Industrial Sector [Member] | ||||
Average balance with no related allowance | 1,782 | 0 | 1,819 | 0 |
Interest income with no related allowance | 7 | 0 | 24 | 0 |
Average balance with related allowance | 433 | 0 | 482 | 0 |
Interest income with related allowance | 0 | 0 | 0 | 0 |
Commercial Real Estate [Member] | ||||
Average balance with no related allowance | 2,679 | 2,552 | 2,689 | 2,560 |
Interest income with no related allowance | 25 | 152 | 77 | 169 |
Average balance with related allowance | 0 | 894 | 0 | 895 |
Interest income with related allowance | 0 | 0 | 0 | 0 |
Residential Mortgage [Member] | ||||
Average balance with no related allowance | 2,916 | 906 | 2,755 | 907 |
Interest income with no related allowance | 0 | 3 | 0 | 25 |
Small Business Administration Loans [Member] | Commercial Portfolio Segment [Member] | ||||
Average balance with no related allowance | 10,017 | 3,005 | 12,682 | 3,007 |
Interest income with no related allowance | 0 | 3 | 0 | 4 |
Average balance with related allowance | 39 | 2,128 | 41 | 2,131 |
Interest income with related allowance | 1 | 2 | ||
Other Financing Receivables [Member] | ||||
Average balance with no related allowance | $ 15 | $ 0 | $ 15 | $ 0 |
Note 5 - Loans and Allowance _9
Note 5 - Loans and Allowance for Loan Losses - Summary of Loans by Class Modified as TDRs (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020USD ($) | Sep. 30, 2019 | |
Number of Loans | 1 | 0 | 3 | 1 |
Pre-Modification Recorded Investment | $ 1,719 | |||
Post-Modification Recorded Investment | $ 1,719 | |||
Commercial and Industrial Sector [Member] | ||||
Number of Loans | 3 | |||
Pre-Modification Recorded Investment | $ 1,719 |
Note 6 - Loan Servicing (Detail
Note 6 - Loan Servicing (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Servicing Asset, Total | $ 14,724,000 | $ 14,724,000 | $ 17,083,000 | ||
Loan Servicing Fees Net of Amortization | 546,000 | $ 827,000 | 1,846,000 | $ 2,566,000 | |
Mortgages [Member] | |||||
Servicing Asset, Total | 11,200,000 | 11,200,000 | 15,100,000 | ||
Servicing Asset Impairment Write Down | 416,000 | 416,000 | |||
SBA Loans [Member] | |||||
Servicing Asset, Total | $ 5,000,000 | $ 5,000,000 | $ 5,600,000 |
Note 6 - Loan Servicing - Sched
Note 6 - Loan Servicing - Schedule of Principal Balances of Mortgage and SBA Loans Serviced for Others (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Mortgages [Member] | ||
Loans serviced for others | $ 1,569,407 | $ 1,683,298 |
Small Business Administration Loans [Member] | ||
Loans serviced for others | 153,382 | 170,849 |
Commerical Real Estate Loans [Member] | ||
Loans serviced for others | $ 4,164 | $ 4,216 |
Note 6 - Loan Servicing - Sch_2
Note 6 - Loan Servicing - Schedule of Amortization of Mortgage Servicing Rights Netted Against Loan Servicing Fee Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Mortgages [Member] | ||||
Beginning of period | $ 11,981 | $ 13,244 | $ 12,997 | $ 12,858 |
Additions | 228 | 130 | 1,055 | 1,471 |
Disposals | (360) | (42) | (998) | (128) |
Amortized to expense | (551) | (458) | (1,391) | (1,327) |
Impairment | (50) | (415) | ||
End of period | 11,248 | 12,874 | 11,248 | 12,874 |
Small Business Administration Loans [Member] | ||||
Beginning of period | 3,614 | 4,343 | 4,086 | 4,512 |
Additions | 0 | 379 | 70 | 819 |
Disposals | (5) | (219) | (270) | (483) |
Amortized to expense | (133) | (197) | (410) | (542) |
Impairment | 0 | 0 | ||
End of period | $ 3,476 | $ 4,306 | $ 3,476 | $ 4,306 |
Note 7 - Goodwill and Intangi_3
Note 7 - Goodwill and Intangibles (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Jan. 10, 2020 | |
Goodwill, Ending Balance | $ 69,243,000 | $ 69,243,000 | $ 58,563,000 | $ 10,680,000 | ||
Finite-Lived Core Deposits, Gross | 5,519,000 | 5,519,000 | $ 6,100,000 | |||
Amortization of Intangible Assets, Total | 4,141,000 | $ 3,637,000 | ||||
Core Deposits [Member] | ||||||
Amortization of Intangible Assets, Total | $ 357,000 | $ 384,000 | $ 1,100,000 | $ 1,200,000 | ||
Core Deposits [Member] | Minimum [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 8 years | |||||
Core Deposits [Member] | Maximum [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years |
Note 7 - Goodwill and Intangi_4
Note 7 - Goodwill and Intangibles - Schedule of Future Estimated Amortization Expense (Details) - Core Deposits [Member] $ in Thousands | Sep. 30, 2020USD ($) |
Remainder of 2020 | $ 322 |
2021 | 1,121 |
2022 | 936 |
2023 | 800 |
2024 | 683 |
Thereafter | 1,657 |
Total | $ 5,519 |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) Pure in Thousands | Mar. 26, 2020 |
Federal Reserve Reserve Ratio | 0.00% |
Note 8 - Deposits - Schedule of
Note 8 - Deposits - Schedule of Maturities of Time Deposits (Details) $ in Thousands | Sep. 30, 2020USD ($) |
One year | $ 1,232,580 |
Two to three years | 70,341 |
Over three years | 12,117 |
Total | $ 1,315,038 |
Note 9 - Long-term Debt (Detail
Note 9 - Long-term Debt (Details Textual) - USD ($) $ in Millions | Mar. 31, 2016 | Nov. 30, 2018 | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Instrument, Face Amount | $ 105 | $ 105 | ||
Six Point Five Percent Fixed To Floating Rate Subordinated Debentures Due March Thirty First Two Thousand Twenty Six Member | ||||
Debt Instrument, Face Amount | $ 50 | |||
Debt Instrument, Basis Spread on Variable Rate | 5.16% | |||
Banking Regulation, Common Equity Tier One Risk-Based Capital, Actual | $ 35 | |||
Six Point Five Percent Fixed To Floating Rate Subordinated Debentures Due March Thirty First Two Thousand Twenty Six Member | London Interbank Offered Rate (LIBOR) [Member] | ||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 6.50% | |||
Six Point One Eight Percent Fixed To Floating Rate Subordinated Debentures Due December First Two Thousands Twenty Eight [Member] | ||||
Debt Instrument, Face Amount | $ 55 | |||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 6.18% | |||
Banking Regulation, Common Equity Tier One Risk-Based Capital, Actual | $ 25 | |||
Six Point One Eight Percent Fixed To Floating Rate Subordinated Debentures Due December First Two Thousands Twenty Eight [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.15% |
Note 9 - Long-term Debt - Sched
Note 9 - Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Principal | $ 105,000 | $ 105,000 |
Unamortized debt issuance costs | $ 695 | $ 951 |
Note 9 - Long-term Debt - Sch_2
Note 9 - Long-term Debt - Schedule of Interest and Amortization Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Interest | $ 1,662 | $ 1,662 | $ 4,987 | $ 4,987 |
Amortization | $ 85 | $ 85 | $ 256 | $ 256 |
Note 10 - Subordinated Debent_2
Note 10 - Subordinated Debentures (Details Textual) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Jan. 31, 2020USD ($)shares | Oct. 31, 2018USD ($)shares | Sep. 30, 2020USD ($)$ / shares | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)$ / sharesshares | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) | |
Debt Instrument, Face Amount | $ 105,000,000 | $ 105,000,000 | $ 105,000,000 | ||||
Debt Amortization Expense | 54,000 | $ 42,000 | 164,000 | $ 125,000 | |||
Interest Expense, Debt, Total | 1,662,000 | 1,662,000 | 4,987,000 | 4,987,000 | |||
Subordinated Debt [Member] | |||||||
Debt Amortization Expense | 102,000 | $ 131,000 | |||||
Interest Expense, Debt, Total | 369,000 | $ 415,000 | |||||
TFC Statutory Trust [Member] | Other Assets [Member] | |||||||
Common Stock Held in Trust | 155,000 | 155,000 | |||||
TFC Statutory Trust [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Subordinated Debt Obligations, Fair Value Disclosure | 3,300,000 | 3,300,000 | |||||
TFC Statutory Trust [Member] | Subordinated Debt [Member] | |||||||
Debt Instrument, Face Amount | 5,000,000 | 5,000,000 | |||||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance | $ 1,900,000 | $ 1,900,000 | |||||
Debt Instrument Redemption, Percentage of Principal Amount Outstanding | 100.00% | ||||||
Debt Instrument, Maximum Number Of Period For Deferred Interest Payments (Year) | 5 years | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.65% | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 1.90% | 1.90% | 3.54% | ||||
TFC Statutory Trust [Member] | Private Placement [Member] | |||||||
Number of Trust Preferred Securities (in shares) | shares | 5,000 | ||||||
Trust Preferred Securities Lquidation Amount Per Preferred Security (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 | |||||
First American International Statutory Trust I 1[Member] | |||||||
Common Unit, Issued (in shares) | shares | 7,000 | ||||||
Floating Rate Maturity Period (Year) | 30 years | ||||||
Common Unit Liquidation Preference Value | $ 7,000,000 | ||||||
First American International Statutory Trust I 1[Member] | Other Assets [Member] | |||||||
Common Stock Held in Trust | 217,000 | ||||||
First American International Statutory Trust I 1[Member] | Subordinated Debt [Member] | |||||||
Debt Instrument, Face Amount | 7,200,000 | ||||||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance | $ 1,200,000 | ||||||
Debt Instrument, Maximum Number Of Period For Deferred Interest Payments (Year) | 5 years | ||||||
First American International Statutory Trust I 1[Member] | Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||||||
First American International Statutory Trust I [Member] | Subordinated Debt [Member] | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.50% | 2.50% | 4.14% | ||||
PGB Holdings Inc And Banking Subsidiary Pacific Global Bank [Member] | |||||||
Common Unit, Issued (in shares) | shares | 5,000 | ||||||
Common Unit Liquidation Preference Value | $ 5,000,000 | ||||||
Number of Common Securities | 155 | ||||||
Common Securities Liquidation Preference Value | $ 155,000 | ||||||
PGB Holdings Inc And Banking Subsidiary Pacific Global Bank [Member] | Subordinated Debt [Member] | |||||||
Debt Instrument, Face Amount | 5,200,000 | ||||||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance | $ 763,000 | ||||||
Debt Instrument, Maximum Number Of Period For Deferred Interest Payments (Year) | 5 years | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.35% | 2.35% | |||||
PGB Holdings Inc And Banking Subsidiary Pacific Global Bank [Member] | Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.10% |
Note 11 - Borrowing Arrangeme_2
Note 11 - Borrowing Arrangements (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | |
Advances from Federal Home Loan Banks, Total | $ 190,000,000 | $ 190,000,000 | $ 0 |
Long-term Line of Credit, Total | 0 | 0 | 0 |
Federal Home Loan Bank Advances [Member] | |||
Advances from Federal Home Loan Banks, Total | 0 | ||
Federal Reserve Bank Of San Francisco Secured Line Of Credit [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 14,900,000 | 14,900,000 | |
Loans Pledged as Collateral | 28,600,000 | 28,600,000 | |
Federal Home Loan Bank Of San Francisco Secured Line Of Credit [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 859,900,000 | 859,900,000 | |
Loans Pledged as Collateral | 1,100,000,000 | 1,100,000,000 | |
Federal Home Loan Bank Overnight Advances [Member] | |||
Advances from Federal Home Loan Banks, Total | $ 0 | ||
Interest Expense, Loans from Other Federal Home Loan Banks | 444,000 | 1 | |
Zions Bank [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 20,000,000 | 20,000,000 | |
Wells Fargo Bank [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000,000 | 10,000,000 | |
Wells Fargo Bank [Member] | Line of Credit [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 2,000,000 | 2,000,000 | |
First Horizon National Bank [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 12,000,000 | 12,000,000 | |
Pacific Coast Bankers' Bank [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50,000,000 | $ 50,000,000 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Jun. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Income Tax Expense (Benefit), Total | $ 3,619,000 | $ 3,689,000 | $ 9,772,000 | $ 11,963,000 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 29.80% | 31.50% | 31.00% | 29.50% | |
Employee Service Share Based Compensation Tax Charge Benefit From Exercise Of Stock Options | $ 0 | $ 38,000 | $ 26,000 | $ 78,000 |
Note 13 - Commitments (Details
Note 13 - Commitments (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Operating Leases, Rent Expense, Net, Total | $ 1,400,000 | $ 1,600,000 | $ 4,300,000 | $ 4,600,000 |
Operating Leases, Rent Expense, Sublease Rentals | $ 82,000 | $ 49,000 | $ 263,000 | $ 148,000 |
Note 13 - Commitments - Schedul
Note 13 - Commitments - Schedule of Future Minimum Rent Payments on Company's Leases (Details) $ in Thousands | Sep. 30, 2020USD ($) |
2020 remaining | $ 1,464 |
2021 | 5,181 |
2022 | 4,727 |
2023 | 3,778 |
2024 | 2,693 |
Thereafter | 12,032 |
Total | $ 29,875 |
Note 13 - Commitments - Sched_2
Note 13 - Commitments - Schedule of Financial Commitments Represents Credit Risk (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financial commitments, contractual amount | $ 451,521 | $ 330,199 |
Standby Letters of Credit [Member] | ||
Financial commitments, contractual amount | 4,114 | 3,715 |
Commitments to Extend Credit [Member] | ||
Financial commitments, contractual amount | 447,111 | 326,126 |
Commercial And Similar Letters Of Credit [Member] | ||
Financial commitments, contractual amount | $ 296 | $ 358 |
Note 14 - Related Party Trans_3
Note 14 - Related Party Transactions (Details Textual) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Executive Officers, Directors and their Related Interests [Member] | ||
Unfunded Loan Commitments, Available To Related Parties | $ 11,400,000 | $ 0 |
Principal Officers, Directors and their Affiliates [Member] | ||
Related Party Deposit Liabilities | $ 53.8 | $ 84,600,000 |
Note 14 - Related Party Trans_4
Note 14 - Related Party Transactions (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Beginning balance | $ 4,000 | $ 3,600 |
New loans and advances | 7,376 | 16,180 |
Repayments | (11,376) | (15,780) |
Ending balance | $ 0 | $ 4,000 |
Note 15 - Stock-based Compens_3
Note 15 - Stock-based Compensation (Details Textual) - USD ($) | May 17, 2017 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Jan. 31, 2017 |
Share-based Payment Arrangement, Expense | $ 167,000 | $ 147,000 | $ 494,000 | $ 543,000 | |||
Employee Service, Share Based Compensation Tax Expense From Compensation Expense | 0 | $ 38,000 | 26,000 | 78,000 | |||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 393,000 | 393,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 221,000 | $ 484,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 90,000 | 90,000 | 76,500 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 5.35 | $ 5.35 | $ 6.32 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 56,498 | 200,629 | |||||
Proceeds from Stock Options Exercised | $ 712,000 | $ 2,694,000 | $ 2,800,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 389,000 | $ 1,200,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 8 months 12 days | ||||||
Stock Option Plan 2010 [Member] | |||||||
Share Based Compensation, Arrangement By Share Based Payment Award, Common Stock Reserved As Percentage Of Issued And Outstanding | 30.00% | ||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 3,494,478 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 0 | ||||||
Omnibus Stock Incentive Plan [Member] | |||||||
Share Based Compensation, Arrangement By Share Based Payment Award, Common Stock Reserved As Percentage Of Issued And Outstanding | 30.00% | ||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 3,848,341 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 1,239,045 | 1,239,045 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum | 6.28% |
Note 15 - Stock-based Compens_4
Note 15 - Stock-based Compensation - Schedule of Weighted Average Assumption for Fair Value of Option Grant Estimated Using Black-Scholes Option Pricing Model (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Expected volatility | 28.50% | 35.00% |
Expected term (in years) (Year) | 6 years | 6 years |
Expected dividends | 1.99% | 1.90% |
Risk free rate | 1.31% | 2.66% |
Grant date fair value (in dollars per share) | $ 4.61 | $ 6.32 |
Note 15 - Share-based Compensat
Note 15 - Share-based Compensation - Summary of Awards Pursuant to Stock Option Plans (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | |
Beginning Balance, Shares (in shares) | 1,090,968 | ||
Outstanding at beginning of year (in dollars per share) | $ 13.11 | ||
Granted, Shares (in shares) | 51,000 | ||
Granted, Weighted Average Exercise Price (in dollars per share) | $ 20.10 | ||
Exercised, Shares (in shares) | (56,498) | (200,629) | |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ 12.61 | ||
Forfeited/cancelled, Shares (in shares) | (36,000) | ||
Forfeited/cancelled, Weighted Average Exercise Price (in dollars per share) | $ 18.32 | ||
Beginning Balance, Shares (in shares) | 1,049,470 | 1,090,968 | |
Outstanding at end of year (in dollars per share) | $ 13.11 | $ 13.11 | $ 13.30 |
Ending Balance, Weighted Average Remaining Contractual Term (Year) | 3 years 6 months 7 days | ||
Ending Balance, Aggregate Intrinsic Value | $ 189,917 | ||
Options exercisable, Shares (in shares) | 958,470 | ||
Options exercisable, Weighted Average Exercise Price (in dollars per share) | $ 12.73 | ||
Options exercisable, Weighted Average Remaining Contractual Term (Year) | 3 years 3 days | ||
Options exercisable, Aggregate Intrinsic Value | $ 189,917 |
Note 16 - Regulatory Matters (D
Note 16 - Regulatory Matters (Details Textual) $ in Billions | Jan. 01, 2019 | Jan. 01, 2016 | Sep. 30, 2020 | Jan. 01, 2020USD ($) | Jan. 01, 2015 |
Tier One Risk Based Common Equity Capital Required For Capital Adequacy To Risk Weighted Assets | 4.50% | ||||
Tier One Risk Based Common Equity Capital Required To Be Well Capitalized To Risk Weighted Assets | 6.50% | ||||
Banking Regulation, Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.040 | ||||
Banking Regulation, Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum | 0.060 | ||||
Increased Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets | 0.060 | ||||
Increased Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets | 0.080 | ||||
Capital Conservation Buffer | 2.50% | 0.625% | 2.50% | ||
Required Assets To Liabilities Ratio After Dividend Effect | 1.25 | ||||
Minimum [Member] | |||||
Regulatory Assets, Total | $ 3 |
Note 16 - Regulatory Matters -
Note 16 - Regulatory Matters - Summary of Company and Bank Continue to Exceed Regulatory Capital Minimum Requirements and Bank Continues to Exceed Well Capitalized Standards (Details) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Jan. 01, 2015 |
Banking Regulation, Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.040 | ||
Tier 1 Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Ratio | 0.060 | ||
RBB Bancorp [Member] | |||
Tier 1 Leverage Ratio, Amount | $ 361,290 | $ 353,572 | |
Tier 1 Leverage Ratio, Ratio | 11.47 | 0.1289 | |
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 125,998 | $ 109,735 | |
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 4 | 0.040 | |
Tier 1 Leverage Ratio, Minimum Required Plus Capital Conservation Buffer Fully Phased-In Amount | $ 125,998 | $ 109,735 | |
Tier 1 Leverage Ratio, Minimum Required Plus Capital Conservation Buffer Fully Phased-In Ratio | 4.00% | 4.00% | |
Tier 1 Leverage Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Amount | $ 157,497 | $ 137,169 | |
Tier 1 Leverage Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Ratio | 5 | 0.050 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Amount | $ 347,061 | $ 343,899 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Ratio | 14.11 | 0.1716 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 110,704 | $ 90,165 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 4.50% | 4.50% | |
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount | $ 172,207 | $ 140,256 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio | 0.070 | 0.070 | |
Common Equity Tier 1 Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Amount | $ 159,906 | $ 130,238 | |
Common Equity Tier 1 Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Ratio | 6.50% | 6.50% | |
Tier 1 Risk-Based Capital Ratio, Amount | $ 361,290 | $ 353,572 | |
Tier 1 Risk-Based Capital Ratio, Ratio | 14.69 | 0.1765 | |
Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 147,606 | $ 120,219 | |
Banking Regulation, Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum | 6 | 0.060 | |
Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount | $ 209,108 | $ 170,311 | |
Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio | 8.50% | 8.50% | |
Tier 1 Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Amount | $ 196,808 | $ 160,292 | |
Tier 1 Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Ratio | 8 | 0.080 | |
Total Risk-Based Capital Ratio, Amount | $ 493,358 | $ 477,262 | |
Total Risk-Based Capital Ratio, Ratio | 20.05 | 0.2382 | |
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 196,808 | $ 160,292 | |
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 8 | 0.080 | |
Total Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount | $ 258,310 | $ 210,384 | |
Total Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio | 10.50% | 10.50% | |
Total Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Amount | $ 246,010 | $ 200,366 | |
Total Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Ratio | 10 | 0.100 | |
Royal Business Bank [Member] | |||
Tier 1 Leverage Ratio, Amount | $ 445,699 | $ 417,036 | |
Tier 1 Leverage Ratio, Ratio | 14.16 | 0.1523 | |
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 125,929 | $ 108,150 | |
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 4 | 0.040 | |
Tier 1 Leverage Ratio, Minimum Required Plus Capital Conservation Buffer Fully Phased-In Amount | $ 125,929 | $ 108,150 | |
Tier 1 Leverage Ratio, Minimum Required Plus Capital Conservation Buffer Fully Phased-In Ratio | 4.00% | 4.00% | |
Tier 1 Leverage Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Amount | $ 157,411 | $ 135,187 | |
Tier 1 Leverage Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Ratio | 5 | 0.050 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Amount | $ 445,699 | $ 417,036 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Ratio | 18.13 | 0.2087 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 110,432 | $ 89,127 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 4.50% | 4.50% | |
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount | $ 171,783 | $ 138,642 | |
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio | 7 | 0.070 | |
Common Equity Tier 1 Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Amount | $ 159,513 | $ 128,739 | |
Common Equity Tier 1 Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Ratio | 6.50% | 6.50% | |
Tier 1 Risk-Based Capital Ratio, Amount | $ 445,699 | $ 417,036 | |
Tier 1 Risk-Based Capital Ratio, Ratio | 18.13 | 0.2087 | |
Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 147,242 | $ 118,836 | |
Banking Regulation, Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum | 6 | 0.060 | |
Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount | $ 208,593 | $ 168,351 | |
Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio | 8.50% | 8.50% | |
Tier 1 Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Amount | $ 196,323 | $ 158,448 | |
Tier 1 Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Ratio | 8 | 0.080 | |
Total Risk-Based Capital Ratio, Amount | $ 473,462 | $ 436,677 | |
Total Risk-Based Capital Ratio, Ratio | 19.26 | 0.2186 | |
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 196,323 | $ 158,448 | |
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 8 | 0.080 | |
Total Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount | $ 257,674 | $ 207,964 | |
Total Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio | 10.50% | 10.50% | |
Total Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Amount | $ 245,404 | $ 198,061 | |
Total Risk-Based Capital Ratio, To Be Well-Capitalized Under Prompt Corrective Provisions Ratio | 10 | 0.100 |
Note 17 - Fair Value Measurem_3
Note 17 - Fair Value Measurements (Details Textual) | 9 Months Ended | |
Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) | |
Write Down on Other Real Estate Owned | $ 0 | |
Assets, Fair Value Disclosure | $ 126,069,000 | |
Other Real Estate Owned [Member] | Single-Family Residences [Member] | ||
Number of Real Estate Properties | 1 | |
Assets, Fair Value Disclosure | $ 293,000 |
Note 17 - Fair Value Measurem_4
Note 17 - Fair Value Measurements - Schedule of Hierarchy and Fair Value for Each Major Category of Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets measured at fair value | $ 126,069 | |
Fair Value, Inputs, Level 1 [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Assets measured at fair value | 126,069 | |
Fair Value, Inputs, Level 3 [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Recurring [Member] | ||
Assets measured at fair value | $ 214,662 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Assets measured at fair value | 1,288 | 1,572 |
Fair Value, Recurring [Member] | Small Business Administration Agency Securities [Member] | ||
Assets measured at fair value | 4,515 | 4,691 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured at fair value | 17,818 | 19,171 |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Assets measured at fair value | 46,336 | 11,654 |
Fair Value, Recurring [Member] | Commercial Paper [Member] | ||
Assets measured at fair value | 109,188 | 69,898 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Assets measured at fair value | 33,930 | 19,083 |
Fair Value, Recurring [Member] | Municipal Securities [Member] | ||
Assets measured at fair value | 1,587 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Small Business Administration Agency Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Obligations [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Paper [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Municipal Securities [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured at fair value | 214,662 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Assets measured at fair value | 1,288 | 1,572 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Small Business Administration Agency Securities [Member] | ||
Assets measured at fair value | 4,515 | 4,691 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured at fair value | 17,818 | 19,171 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member] | ||
Assets measured at fair value | 46,336 | 11,654 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member] | ||
Assets measured at fair value | 109,188 | 69,898 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Assets measured at fair value | 33,930 | 19,083 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal Securities [Member] | ||
Assets measured at fair value | 1,587 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Small Business Administration Agency Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Obligations [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Paper [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal Securities [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Nonrecurring [Member] | ||
Assets measured at fair value | 293 | |
Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | 293 | 293 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured at fair value | 293 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | $ 293 | $ 293 |
Note 17 - Fair Value Measurem_5
Note 17 - Fair Value Measurements - Summary of Quantitative Information About Impaired Loans and OREO Non-recurring Level 3 Fair Value Measurements (Details) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Assets measured at fair value | $ 126,069 | |
Fair Value, Nonrecurring [Member] | ||
Assets measured at fair value | $ 293 | |
Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | $ 293 | $ 293 |
Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | Minimum [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Adjustment | 0.05 | 0.05 |
Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | Maximum [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Adjustment | 0.06 | 0.06 |
Note 18 - Fair Value of Finan_3
Note 18 - Fair Value of Financial Instruments - Schedule of Fair Value Hierarchy Level and Estimated Fair Value of Significant Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Securities held to maturity, fair value | $ 7,982 | $ 8,632 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 121,630 | 114,763 |
Federal funds sold and other cash equivalents | 57,000 | 67,000 |
Interest-earning deposits in other financial institutions | 600 | 600 |
Mortgage loans held for sale | 23,886 | 108,194 |
Accrued interest receivable | 15,542 | 8,942 |
Accrued interest payable | 3,645 | 2,987 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities - AFS | 214,662 | 126,069 |
Securities held to maturity, fair value | 7,569 | 8,332 |
Mortgage and SBA serving rights | 14,724 | 17,083 |
Deposits | 2,611,748 | 2,248,938 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 2,728,519 | 2,178,118 |
Equity security | 11,854 | 11,826 |
FHLB advances | 190,000 | 0 |
Long-term debt | 104,305 | 104,049 |
Subordinated Debt Obligations, Fair Value Disclosure | 14,229 | 9,673 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 121,630 | 114,763 |
Federal funds sold and other cash equivalents | 57,000 | 67,000 |
Interest-earning deposits in other financial institutions | 600 | 600 |
Mortgage loans held for sale | 24,224 | 109,385 |
Accrued interest receivable | 15,542 | 8,942 |
Accrued interest payable | 3,645 | 2,987 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities - AFS | 214,662 | 126,069 |
Securities held to maturity, fair value | 7,982 | 8,632 |
Mortgage and SBA serving rights | 16,253 | 20,752 |
Deposits | 2,611,531 | 2,236,329 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 2,741,656 | 2,158,970 |
Equity security | 11,854 | 11,826 |
FHLB advances | 189,965 | 0 |
Long-term debt | 137,628 | 109,877 |
Subordinated Debt Obligations, Fair Value Disclosure | $ 14,562 | $ 11,709 |
Note 19 - Earnings Per Share (D
Note 19 - Earnings Per Share (Details Textual) - shares | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Share-based Payment Arrangement, Option [Member] | Common Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 378,709 | 76,500 |
Note 19 - Earnings Per Share -
Note 19 - Earnings Per Share - Reconciliation of Net Income and Shares Outstanding to Income and Number of Shares Used to Compute EPS (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income as reported, income | $ 8,520 | $ 8,012 | $ 21,781 | $ 28,534 |
Less: Earnings allocated to participating securities, income | $ (9) | $ 0 | $ (29) | |
Shares outstanding, shares (in shares) | 19,739,280 | 20,030,866 | 19,739,280 | 20,030,866 |
Impact of weighting shares, shares (in shares) | (21,713) | 36,981 | 60,337 | 32,613 |
Used in basic EPS, income | $ 8,511 | $ 8,012 | $ 21,752 | $ 28,534 |
Used in basic EPS, shares (in shares) | 19,717,568 | 20,067,847 | 19,799,617 | 20,063,479 |
Stock options, shares (in shares) | 87,324 | 358,119 | 158,994 | 372,388 |
Used in dilutive EPS, income | $ 8,511 | $ 8,012 | $ 21,752 | $ 28,534 |
Used in dilutive EPS, shares (in shares) | 19,804,892 | 20,425,966 | 19,958,612 | 20,435,867 |
Basic (in dollars per share) | $ 0.43 | $ 0.40 | $ 1.10 | $ 1.42 |
Diluted (in dollars per share) | $ 0.43 | $ 0.39 | $ 1.09 | $ 1.40 |
Note 20 - Revenue From Contra_3
Note 20 - Revenue From Contracts With Customers - Summary of Revenue From Contracts With Customers in-Scope and Not in-Scope under Topic 606 (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||
Total in-scope non-interest income | $ 1,073 | $ 894 | $ 3,160 | $ 2,869 | |
Non-interest income, not in scope (4) | [1] | 1,654 | 1,905 | 6,390 | 9,628 |
Noninterest Income, Total | 2,727 | 2,799 | 9,550 | 12,497 | |
Fees And Service Charges On Deposit Accounts [Member] | |||||
Total in-scope non-interest income | [2] | 353 | 340 | 1,244 | 953 |
Other Fees [Member] | |||||
Total in-scope non-interest income | [2],[3] | 254 | 168 | 513 | 791 |
Other Service Income [Member] | |||||
Total in-scope non-interest income | [2],[4] | 466 | 375 | 1,403 | 1,108 |
Gain on Sale of Fixed Assets [Member] | |||||
Total in-scope non-interest income | $ 0 | $ 11 | $ 0 | $ 17 | |
[1] | The amounts primarily represent revenue from contracts with customers that are out of scope of ASC 606: Net loan servicing income, letter of credit commissions, import/export commissions, recoveries on purchased loans, BOLI income, and gains (losses) on sales of mortgage loans, loans and investment securities. | ||||
[2] | There were no adjustments to the Company's financial statements recorded as a result of the adoption of ASC 606. | ||||
[3] | Other fees consists of wealth management fees, miscellaneous loan fees and postage/courier fees. | ||||
[4] | Other income consists of safe deposit box rental income, wire transfer fees, security brokerage fees, annuity sales, insurance activity and OREO income. |
Note 21 - Qualified Affordabl_2
Note 21 - Qualified Affordable Housing Project Investments (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Amortization Method Qualified Affordable Housing Project Investments | $ 7,900,000 | $ 7,900,000 | $ 8,600,000 | ||
Qualified Affordable Housing Project Investments, Commitment | 2,000,000 | 2,000,000 | $ 4,200,000 | ||
Amortization Method Qualified Affordable Housing Project Investments, Amortization | $ 247,000 | $ 225,000 | $ 740,000 | $ 675,000 | |
Minimum [Member] | |||||
Affordable Housing Tax Credits Commitment, Year to be Paid | 2020 | ||||
Maximum [Member] | |||||
Affordable Housing Tax Credits Commitment, Year to be Paid | 2027 |
Note 22 - Recent Developments (
Note 22 - Recent Developments (Details Textual) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Millions | Oct. 23, 2020 | Oct. 01, 2020 |
Dividends Payable, Amount Per Share (in dollars per share) | $ 0.09 | |
Dividends Payable, Date Declared | Oct. 23, 2020 | |
Dividends Payable, Date to be Paid | Nov. 16, 2020 | |
Dividends Payable, Date of Record | Nov. 2, 2020 | |
Building [Member] | ||
Property, Plant and Equipment, Additions | $ 3.5 |