Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 03, 2022 | |
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 | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
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 | 19,020,331 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and due from banks | $ 224,736 | $ 501,372 |
Federal funds sold and other cash equivalents | 100,000 | 193,000 |
Cash and cash equivalents | 324,736 | 694,372 |
Interest-earning deposits in other financial institutions | 600 | 600 |
Securities: | ||
Available for sale | 358,135 | 368,260 |
Held to maturity (fair value of $5,615 and $6,577 at June 30, 2022 and December 31, 2021, respectively) | 5,741 | 6,252 |
Mortgage loans held for sale | 0 | 5,957 |
Loans held for investment: | ||
Real estate | 2,725,639 | 2,560,465 |
Commercial and other | 322,772 | 375,684 |
Total loans | 3,048,411 | 2,936,149 |
Unaccreted discount on acquired loans | (1,388) | (1,727) |
Deferred loan fees, net | (1,077) | (3,072) |
Total loans, net of deferred loan fees and unaccreted discounts on acquired loans | 3,045,946 | 2,931,350 |
Allowance for loan losses | (34,154) | (32,912) |
Net loans | 3,011,792 | 2,898,438 |
Premises and equipment | 27,104 | 27,199 |
Federal Home Loan Bank (FHLB) stock | 15,000 | 15,000 |
Equity Securities | 19,964 | 19,992 |
Other real estate owned (OREO) | 293 | 293 |
Cash surrender value of life insurance (BOLI) | 56,642 | 55,988 |
Goodwill | 71,498 | 69,243 |
Servicing assets | 10,456 | 11,517 |
Core deposit intangibles | 4,248 | 4,075 |
Right-of-use assets- operating leases | 25,931 | 22,454 |
Accrued interest and other assets | 36,897 | 28,554 |
Total assets | 3,969,037 | 4,228,194 |
Deposits: | ||
Noninterest-bearing demand | 1,045,009 | 1,291,484 |
Savings, NOW and money market accounts | 868,307 | 927,609 |
Time deposits $250,000 and under | 574,050 | 587,940 |
Time deposits over $250,000 | 540,199 | 578,499 |
Total deposits | 3,027,565 | 3,385,532 |
Reserve for unfunded commitments | 1,070 | 1,203 |
FHLB advances | 250,000 | 150,000 |
Long-term debt, net of debt issuance costs | 173,296 | 173,007 |
Subordinated debentures | 14,611 | 14,502 |
Lease liabilities - operating leases | 26,823 | 23,282 |
Accrued interest and other liabilities | 11,965 | 13,985 |
Total liabilities | 3,505,330 | 3,761,511 |
Commitments and contingencies - Note 13 | ||
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; 18,881,829 shares issued and outstanding at June 30, 2022 and 19,455,544 shares issues and outstanding at December 31, 2021 | 275,096 | 282,335 |
Additional paid-in capital | 4,193 | 4,603 |
Retained earnings | 200,093 | 181,329 |
Non-controlling interest | 72 | 72 |
Accumulated other comprehensive loss, net | (15,747) | (1,656) |
Total shareholders’ equity | 463,707 | 466,683 |
Total liabilities and shareholders’ equity | $ 3,969,037 | $ 4,228,194 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Securities held to maturity, fair value | $ 5,615 | $ 6,577 |
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, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 18,881,829 | 19,455,544 |
Common stock, shares outstanding (in shares) | 18,881,829 | 19,455,544 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 40,157,000 | $ 34,669,000 | $ 78,043,000 | $ 69,185,000 |
Interest on interest-earning deposits | 111,000 | 125,000 | 282,000 | 173,000 |
Interest on investment securities | 1,419,000 | 794,000 | 2,426,000 | 1,421,000 |
Dividend income on FHLB stock | 222,000 | 225,000 | 449,000 | 417,000 |
Interest on federal funds sold and other | 429,000 | 158,000 | 704,000 | 315,000 |
Total interest income | 42,338,000 | 35,971,000 | 81,904,000 | 71,511,000 |
Interest expense: | ||||
Interest on savings deposits, now and money market accounts | 844,000 | 708,000 | 1,562,000 | 1,406,000 |
Interest on time deposits | 1,506,000 | 2,410,000 | 3,080,000 | 5,374,000 |
Interest on subordinated debentures and long-term debt | 2,379,000 | 2,356,000 | 4,727,000 | 4,314,000 |
Interest on other borrowed funds | 519,000 | 440,000 | 954,000 | 875,000 |
Total interest expense | 5,248,000 | 5,914,000 | 10,323,000 | 11,969,000 |
Net interest income | 37,090,000 | 30,057,000 | 71,581,000 | 59,542,000 |
Provision for loan losses | 915,000 | 628,000 | 1,281,000 | 2,128,000 |
Net interest income after provision for loan losses | 36,175,000 | 29,429,000 | 70,300,000 | 57,414,000 |
Noninterest income: | ||||
Service charges, fees and other | 1,382,000 | 1,332,000 | 2,622,000 | 2,800,000 |
Gain on sale of loans | 344,000 | 2,572,000 | 1,518,000 | 6,413,000 |
Loan servicing fees, net of amortization | 472,000 | 118,000 | 904,000 | 364,000 |
Recoveries on loans acquired in business combinations | 98,000 | 5,000 | 103,000 | 10,000 |
Unrealized loss on equity investments | 0 | (35,000) | 0 | (55,000) |
Gain (Loss) on derivatives | 39,000 | (38,000) | (194,000) | 129,000 |
Increase in cash surrender value of life insurance | 330,000 | 217,000 | 654,000 | 404,000 |
Gain on sale of fixed assets | 757,000 | 0 | 757,000 | 0 |
Noninterest Income, Total | 3,422,000 | 4,171,000 | 6,364,000 | 10,065,000 |
Noninterest expense: | ||||
Salaries and employee benefits | 9,628,000 | 8,742,000 | 18,997,000 | 17,984,000 |
Occupancy and equipment expenses | 2,174,000 | 2,135,000 | 4,380,000 | 4,377,000 |
Data processing | 1,293,000 | 1,231,000 | 2,551,000 | 2,671,000 |
Legal and professional | 2,254,000 | 536,000 | 3,260,000 | 1,341,000 |
Office expenses | 358,000 | 272,000 | 651,000 | 527,000 |
Marketing and business promotion | 501,000 | 231,000 | 808,000 | 415,000 |
Insurance and regulatory assessments | 478,000 | 354,000 | 919,000 | 702,000 |
Core deposit premium | 277,000 | 287,000 | 556,000 | 588,000 |
OREO expenses | 5,000 | 4,000 | 13,000 | 9,000 |
Merger expenses | 23,000 | 17,000 | 60,000 | 59,000 |
Other expenses | 621,000 | 871,000 | 1,476,000 | 1,799,000 |
Noninterest Expense, Total | 17,612,000 | 14,680,000 | 33,671,000 | 30,472,000 |
Income before income taxes | 21,985,000 | 18,920,000 | 42,993,000 | 37,007,000 |
Income tax expense | 6,508,000 | 5,540,000 | 12,899,000 | 11,171,000 |
Net income | $ 15,477,000 | $ 13,380,000 | $ 30,094,000 | $ 25,836,000 |
Net income per share | ||||
Basic (in dollars per share) | $ 0.81 | $ 0.69 | $ 1.56 | $ 1.32 |
Diluted (in dollars per share) | 0.80 | 0.67 | 1.54 | 1.30 |
Cash dividends declared per common share (in dollars per share) | $ 0.14 | $ 0.13 | $ 0.28 | $ 0.25 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income | $ 15,477 | $ 13,380 | $ 30,094 | $ 25,836 |
Other comprehensive (loss)/gain: | ||||
Change in unrealized (losses)/gains | (7,810) | 448 | (20,367) | (1,368) |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, before Tax, Total | (7,810) | 448 | (20,367) | (1,368) |
Change in unrealized (losses)/gains | 2,387 | (131) | 6,276 | 406 |
Other Comprehensive Income (Loss), Available-for-Sale Securities, Tax, Portion Attributable to Parent, Total | 2,387 | (131) | 6,276 | 406 |
Total other comprehensive (loss)/gain | (5,423) | 317 | (14,091) | (962) |
Total comprehensive income | $ 10,054 | $ 13,697 | $ 16,003 | $ 24,874 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Restricted Stock Units (RSUs) [Member] Common Stock [Member] | Restricted Stock Units (RSUs) [Member] Additional Paid-in Capital [Member] | Restricted Stock Units (RSUs) [Member] Retained Earnings [Member] | Restricted Stock Units (RSUs) [Member] Noncontrolling Interest [Member] | Restricted Stock Units (RSUs) [Member] AOCI Attributable to Parent [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock [Member] Common Stock [Member] | Restricted Stock [Member] Additional Paid-in Capital [Member] | Restricted Stock [Member] Retained Earnings [Member] | Restricted Stock [Member] Noncontrolling Interest [Member] | Restricted Stock [Member] AOCI Attributable to Parent [Member] | Restricted Stock [Member] | 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, 2020 | 19,565,921 | |||||||||||||||||
Balance at Dec. 31, 2020 | $ 284,261 | $ 4,932 | $ 138,094 | $ 72 | $ 1,129 | $ 428,488 | ||||||||||||
Net income | 0 | 0 | 25,836 | 0 | 0 | 25,836 | ||||||||||||
Stock-based compensation | 0 | 602 | 0 | 0 | 0 | 602 | ||||||||||||
Restricted stock unit vested (in shares) | 60,000 | |||||||||||||||||
Restricted stock unit vested | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||||||||||
Cash dividend | $ 0 | 0 | (4,887) | 0 | 0 | $ (4,887) | ||||||||||||
Stock options exercised, net of expense recognized (in shares) | 76,265 | 76,265 | ||||||||||||||||
Stock options exercised, net of expense recognized | $ 930 | (124) | 0 | 0 | 0 | $ 806 | ||||||||||||
Repurchase of common stock (in shares) | (352,384) | |||||||||||||||||
Repurchase of common stock | $ (4,938) | (135) | (2,486) | 0 | 0 | (7,559) | ||||||||||||
Other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | 0 | (962) | (962) | ||||||||||||
Balance (in shares) at Jun. 30, 2021 | 19,349,802 | |||||||||||||||||
Balance at Jun. 30, 2021 | $ 280,253 | 5,275 | 156,558 | 72 | 167 | 442,325 | ||||||||||||
Balance (in shares) at Mar. 31, 2021 | 19,528,249 | |||||||||||||||||
Balance at Mar. 31, 2021 | $ 282,845 | 5,095 | 147,806 | 72 | (150) | 435,668 | ||||||||||||
Net income | 0 | 0 | 13,380 | 0 | 0 | 13,380 | ||||||||||||
Stock-based compensation | 0 | 315 | 0 | 0 | 0 | 315 | ||||||||||||
Cash dividend | $ 0 | 0 | (2,540) | 0 | 0 | $ (2,540) | ||||||||||||
Stock options exercised, net of expense recognized (in shares) | 43,976 | 43,976 | ||||||||||||||||
Stock options exercised, net of expense recognized | $ 466 | 0 | 0 | 0 | 0 | $ 466 | ||||||||||||
Repurchase of common stock (in shares) | (222,423) | |||||||||||||||||
Repurchase of common stock | $ (3,058) | (135) | (2,088) | 0 | 0 | (5,281) | ||||||||||||
Other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | 0 | 317 | 317 | ||||||||||||
Balance (in shares) at Jun. 30, 2021 | 19,349,802 | |||||||||||||||||
Balance at Jun. 30, 2021 | $ 280,253 | 5,275 | 156,558 | 72 | 167 | $ 442,325 | ||||||||||||
Balance (in shares) at Dec. 31, 2021 | 19,455,544 | 19,455,544 | ||||||||||||||||
Balance at Dec. 31, 2021 | $ 282,335 | 4,603 | 181,329 | 72 | (1,656) | $ 466,683 | ||||||||||||
Net income | 0 | 0 | 30,094 | 0 | 0 | 30,094 | ||||||||||||
Stock-based compensation | $ 0 | 406 | 0 | 0 | 0 | 406 | ||||||||||||
Restricted stock cancelled (in shares) | (40,000) | |||||||||||||||||
Restricted stock cancelled | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||
Restricted stock unit vested (in shares) | 1,000 | 0 | ||||||||||||||||
Restricted stock unit vested | $ 27 | $ (27) | $ 0 | $ 0 | $ 0 | $ 0 | $ 355 | $ (355) | $ 0 | $ 0 | $ 0 | $ 0 | ||||||
Cash dividend | $ 0 | 0 | (5,411) | 0 | 0 | $ (5,411) | ||||||||||||
Stock options exercised, net of expense recognized (in shares) | 224,376 | 224,376 | ||||||||||||||||
Stock options exercised, net of expense recognized | $ 3,289 | (434) | 0 | 0 | 0 | $ 2,855 | ||||||||||||
Repurchase of common stock (in shares) | (759,091) | |||||||||||||||||
Repurchase of common stock | $ (10,910) | 0 | (5,919) | (16,829) | ||||||||||||||
Other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | 0 | (14,091) | $ (14,091) | ||||||||||||
Balance (in shares) at Jun. 30, 2022 | 18,881,829 | 18,881,829 | ||||||||||||||||
Balance at Jun. 30, 2022 | $ 275,096 | 4,193 | 200,093 | 72 | (15,747) | $ 463,707 | ||||||||||||
Balance (in shares) at Mar. 31, 2022 | 19,247,970 | |||||||||||||||||
Balance at Mar. 31, 2022 | $ 279,836 | 4,392 | 190,849 | 72 | (10,324) | 464,825 | ||||||||||||
Net income | 0 | 0 | 15,477 | 0 | 0 | 15,477 | ||||||||||||
Stock-based compensation | $ 0 | 149 | 0 | 0 | 0 | 149 | ||||||||||||
Restricted stock cancelled (in shares) | (40,000) | |||||||||||||||||
Restricted stock cancelled | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||
Restricted stock unit vested (in shares) | 1,000 | |||||||||||||||||
Restricted stock unit vested | $ 27 | $ (27) | $ 0 | $ 0 | $ 0 | $ 0 | ||||||||||||
Cash dividend | $ 0 | 0 | (2,687) | 0 | 0 | $ (2,687) | ||||||||||||
Stock options exercised, net of expense recognized (in shares) | 198,613 | 198,613 | ||||||||||||||||
Stock options exercised, net of expense recognized | $ 2,781 | (321) | 0 | 0 | 0 | $ 2,460 | ||||||||||||
Repurchase of common stock (in shares) | (525,754) | |||||||||||||||||
Repurchase of common stock | $ (7,548) | 0 | (3,546) | (11,094) | ||||||||||||||
Other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | 0 | (5,423) | $ (5,423) | ||||||||||||
Balance (in shares) at Jun. 30, 2022 | 18,881,829 | 18,881,829 | ||||||||||||||||
Balance at Jun. 30, 2022 | $ 275,096 | $ 4,193 | $ 200,093 | $ 72 | $ (15,747) | $ 463,707 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Operating activities | |||||
Net income | $ 15,477,000 | $ 13,380,000 | $ 30,094,000 | $ 25,836,000 | |
Adjustments to reconcile net income to net cash from Operating activities: | |||||
Depreciation and amortization of premises and equipment | 1,346,000 | 980,000 | |||
Net accretion of securities, loans, deposits, and other | (209,000) | (369,000) | |||
Unrealized loss on equity securities | 0 | 35,000 | 0 | 55,000 | |
Amortization of investment in affordable housing tax credits | 510,000 | 519,000 | |||
Amortization of intangible assets | 2,249,000 | 3,411,000 | |||
Amortization of right-of-use asset | 2,586,000 | 2,618,000 | |||
Change in operating lease liabilities | (2,523,000) | (2,512,000) | |||
Provision for loan losses | 915,000 | 628,000 | 1,281,000 | 2,128,000 | $ 3,959,000 |
Stock-based compensation | 406,000 | 602,000 | |||
Deferred tax (benefit) expense | (417,000) | 203,000 | |||
Gain on sale of loans | (344,000) | (2,572,000) | (1,518,000) | (6,413,000) | |
Gain on sale of fixed assets | (757,000) | 0 | |||
Increase in cash surrender value of life insurance | (654,000) | (404,000) | |||
Loans originated and purchased for sale, net | (32,739,000) | (108,425,000) | |||
Proceeds from loans sold | 50,014,000 | 216,770,000 | |||
Other items | (4,174,000) | (2,672,000) | |||
Net cash provided by operating activities | 45,495,000 | 132,327,000 | |||
Investing activities | |||||
Purchases | (315,434,000) | (372,303,000) | |||
Maturities, prepayments and calls | 305,355,000 | 242,162,000 | |||
Securities held to maturity: | |||||
Maturities, prepayments and calls | 500,000 | 500,000 | |||
Purchase of other equity securities, net | (171,000) | (43,000) | |||
Redemption of Federal Home Loan Bank stock | 0 | 641,000 | |||
Net increase of investment in qualified affordable housing projects | (3,000) | (453,000) | |||
Net increase in loans | (117,356,000) | (64,521,000) | |||
Purchase of bank owned life insurance | 0 | (19,800,000) | |||
Net cash received in connection with a branch purchase | 71,352,000 | 0 | |||
Proceeds from sale of fixed assets | 757,000 | 0 | |||
Purchases of premises and equipment | (1,215,000) | (895,000) | |||
Net cash used in investing activities | (56,215,000) | (214,712,000) | |||
Financing activities | |||||
Net (decrease) increase in demand deposits and savings accounts | (387,475,000) | 450,349,000 | |||
Net decrease in time deposits | (52,056,000) | (15,436,000) | |||
Advances on short-term FHLB advances | 220,000,000 | 0 | |||
Repays of short-term FHLB Advances | (120,000,000) | 0 | |||
Cash dividends paid | (5,411,000) | (4,887,000) | |||
Redemption of subordinated debentures | 0 | (50,000,000) | |||
Issuance of subordinated debentures, net of issuance costs | 0 | 118,111,000 | |||
Common stock repurchased, net of repurchased costs | (16,829,000) | (7,559,000) | |||
Exercise of stock options | 2,500,000 | 467,000 | 2,855,000 | 806,000 | |
Net cash (used in) provided by financing activities | (358,916,000) | 491,384,000 | |||
Net (decrease) increase in cash and cash equivalents | (369,636,000) | 408,999,000 | |||
Cash and cash equivalents at beginning of period | 694,372,000 | 194,654,000 | 194,654,000 | ||
Cash and cash equivalents at end of period | $ 324,736,000 | $ 603,653,000 | 324,736,000 | 603,653,000 | $ 694,372,000 |
Cash paid during the period: | |||||
Interest paid | 10,407,000 | 11,357,000 | |||
Taxes paid | 15,077,000 | 15,100,000 | |||
Non-cash investing and financing activities: | |||||
Loans transfer to held for sale, net | 9,800,000 | 61,215,000 | |||
Additions to servicing assets | 632,000 | 1,416,000 | |||
Net change in unrealized holding gain on securities available for sale | (20,367,000) | (1,368,000) | |||
Recognition of operating lease right-of-use assets | (6,063,000) | (27,668,000) | |||
Recognition of operating lease liabilities | $ 6,063,000 | $ 27,668,000 |
Note 1 - Business Description
Note 1 - Business Description | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1 RBB Bancorp (“RBB”) is a bank holding company registered under the Bank Holding Company Act of 1956, At June 30, 2022 The Bank provides business-banking services to the Chinese-American communities in Los Angeles County, Orange County and Ventura County in California, in Las Vegas, Nevada, the New York City, New York metropolitan area, including Edison, New Jersey, Chicago, Illinois, and Honolulu, Hawaii. Specific services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, Small Business Administration (“SBA”) 7A 504 January 14, 2022. 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; the Chinatown and Bridgeport neighborhoods of Chicago, Illinois; Edison, New Jersey; and Honolulu, Hawaii. The Company’s primary source of revenue is providing loans to customers, who are predominantly small and middle-market businesses and individuals. On May 2, 2022, 86 th 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, 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 July 2011 January 2022. December 28, 2021, not June 30, 2022, $160.0 $111.3 fourth 2022. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
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 six June 30, 2022 not December 31, 2021, 10 December 31, 2021 No. 1 10 “2021 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 could change as 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, 2021 2021 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, 842 not 12 January 1, 2021 In June 2016, 2016 13, 326 not 1 2 not 2016 13 2016 13 December 15, 2020, December 31, 2022. first third second 2022. one 2016 13 December 31, 2022. In February 2019, three one 2016 13. March 2020, two five 2019 19" five not December 31, 2022. In January 2017, 2017 04, 350 2 2 not not 2017 04 December 15, 2019. December 31, 2022. 2017 04 not In January 2020, 2020 01, 321 323 815 321 not December 15, 2021, 2020 01 January 1, 2022 not In February 2020, 2020 02, 326 842 No. 119 No. 2016 02, 842 December 31, 2022. In March 2020, 2020 04, 848 December 31, 2022. June 30, 2022 9 10 10 In October 2021 , 2021 08 , , not December 15, 2022. January 1, 2023. In March 2022, 2022 02, 326 326 2016 13 December 31, 2022, 2022 02 December 31, 2022. |
Note 3 - Acquisitions
Note 3 - Acquisitions | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 3 ACQUISITIONS Honolulu, Hawaii Branch Purchase On January 14, 2022, January 14, 2022. The Company acquired this branch to strategically establish a presence in the Hawaiian Islands area. Goodwill in the amount of $2.3 million and core deposit premium of $729,000 was recognized in connection with this acquisition. Goodwill represents the future economic benefits arising from net assets acquired that are not two not The following table represents the assets acquired and liabilities assumed of the BOTO Honolulu branch as of January 14, 2022 BOTO Fair Value Fair (dollars in thousands) Book Value Adjustments Value Assets acquired Cash and cash equivalents $ 312 $ — $ 312 Loans, gross 7,352 38 7,390 Bank premises and equipment 12 — 12 Core deposit premium — 729 729 Other assets 412 (360 ) 52 Total assets acquired $ 8,088 $ 407 $ 8,495 Liabilities assumed Deposits $ 81,673 $ 27 $ 81,700 Escrow Payable 2 — 2 Other liabilities 460 (372 ) 88 Total liabilities assumed 82,135 (345 ) 81,790 Excess of assets acquired over liabilities assumed (74,047 ) 752 (73,295 ) $ 8,088 $ 407 Cash received 71,040 Goodwill recognized $ 2,255 The fair values are estimates and are subject to adjustment for up to one The Company accounted for this transaction under the acquisition method of accounting in accordance with ASC 805, The loan portfolio of the Honolulu branch 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, premises and equipment 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. 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 | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4 The following table summarizes the amortized cost and fair value of available for sale (“AFS”) debt securities and held to maturity (“HTM”) debt securities as of June 30, 2022 December 31, 2021, Gross Gross (dollars in thousands) Amortized Unrealized Unrealized Fair June 30, 2022 Cost Gains Losses Value Available for sale Government agency securities $ 5,364 $ — $ (373 ) $ 4,991 SBA agency securities 2,877 — (127 ) 2,750 Mortgage-backed securities- Government sponsored agencies 52,299 — (4,909 ) 47,390 Collateralized mortgage obligations 137,776 9 (10,572 ) 127,213 Commercial paper 128,655 — (182 ) 128,473 Corporate debt securities 41,198 6 (2,960 ) 38,244 Municipal securities 12,686 — (3,612 ) 9,074 Total $ 380,855 $ 15 $ (22,735 ) $ 358,135 Held to maturity Municipal taxable securities $ 1,005 $ 20 $ — $ 1,025 Municipal securities 4,736 — (146 ) 4,590 Total $ 5,741 $ 20 $ (146 ) $ 5,615 Gross Gross (dollars in thousands) Amortized Unrealized Unrealized Fair December 31, 2021 Cost Gains Losses Value Available for sale Government agency securities $ 5,689 $ 4 $ (83 ) $ 5,610 SBA agency securities 3,351 118 — 3,469 Mortgage-backed securities- Government sponsored agencies 55,534 31 (540 ) 55,025 Collateralized mortgage obligations 121,377 128 (1,994 ) 119,511 Commercial paper 129,962 — (36 ) 129,926 Corporate debt securities 41,999 460 (254 ) 42,205 Municipal securities 12,701 — (187 ) 12,514 Total $ 370,613 $ 741 $ (3,094 ) $ 368,260 Held to maturity Municipal taxable securities $ 1,506 $ 77 $ — $ 1,583 Municipal securities 4,746 248 — 4,994 Total $ 6,252 $ 325 $ — $ 6,577 One security with a fair value of $90,000 and $117,000 at June 30, 2022 December 31, 2021, There were no sales of investment securities during the three six June 30, 2022 2021, The amortized cost and fair value of the investment securities portfolio at June 30, 2022 December 31, 2021 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 June 30, 2022 Government agency securities $ — $ — $ 5,364 $ 4,991 $ — $ — $ — $ — $ 5,364 $ 4,991 SBA agency securities — — 1,275 1,212 1,602 1,538 — — 2,877 2,750 Mortgage-backed securities- Government sponsored agencies — — 19,249 18,221 17,992 16,362 15,058 12,807 52,299 47,390 Collateralized mortgage obligations 3,034 3,034 37,290 35,566 93,299 85,289 4,153 3,324 137,776 127,213 Commercial paper 128,655 128,473 — — — — — — 128,655 128,473 Corporate debt securities — — 9,874 9,625 28,651 26,670 2,673 1,949 41,198 38,244 Municipal securities — — — — — — 12,686 9,074 12,686 9,074 Total available for sale $ 131,689 $ 131,507 $ 73,052 $ 69,615 $ 141,544 $ 129,859 $ 34,570 $ 27,154 $ 380,855 $ 358,135 Municipal taxable securities $ — $ — $ 1,005 $ 1,025 $ — $ — $ — $ — $ 1,005 $ 1,025 Municipal securities — — — — 1,742 1,709 2,994 2,881 4,736 4,590 Total held to maturity $ — $ — $ 1,005 $ 1,025 $ 1,742 $ 1,709 $ 2,994 $ 2,881 $ 5,741 $ 5,615 (dollars in thousands) December 31, 2021 Government agency securities $ — $ — $ 5,689 $ 5,610 $ — $ — $ — $ — $ 5,689 $ 5,610 SBA agency securities — — 1,551 1,582 1,800 1,887 — — 3,351 3,469 Mortgage-backed securities- Government sponsored agencies 5,001 4,998 35,254 35,000 15,279 15,027 — — 55,534 55,025 Collateralized mortgage obligations 117 117 78,021 76,496 43,239 42,898 — — 121,377 119,511 Commercial paper 129,962 129,926 — — — — — — 129,962 129,926 Corporate debt securities 7,999 8,007 8,389 8,633 22,927 22,931 2,684 2,634 41,999 42,205 Municipal securities — — — — — — 12,701 12,514 12,701 12,514 Total available for sale $ 143,079 $ 143,048 $ 128,904 $ 127,321 $ 83,245 $ 82,743 $ 15,385 $ 15,148 $ 370,613 $ 368,260 Municipal taxable securities $ 500 $ 502 $ 1,006 $ 1,081 $ — $ — $ — $ — $ 1,506 $ 1,583 Municipal securities — — — — 1,743 1,818 3,003 3,176 4,746 4,994 Total held to maturity $ 500 $ 502 $ 1,006 $ 1,081 $ 1,743 $ 1,818 $ 3,003 $ 3,176 $ 6,252 $ 6,577 The following table summarizes investment securities with unrealized losses at June 30, 2022 December 31, 2021, Less than Twelve Months Twelve Months or More Total (dollars in thousands) Unrealized Losses Estimated Fair Value No. of Issuances Unrealized Losses Estimated Fair Value No. of Issuances Unrealized Losses Estimated Fair Value No. of Issuances June 30, 2022 Government agency securities $ (373 ) $ 4,991 3 $ — $ — — $ (373 ) $ 4,991 3 SBA securities (127 ) 2,750 4 — — — (127 ) 2,750 4 Mortgage-backed securities- Government sponsored agencies (3,189 ) 35,927 12 (1,720 ) 11,463 4 (4,909 ) 47,390 16 Collateralized mortgage obligations (6,925 ) 79,184 30 (3,647 ) 34,289 10 (10,572 ) 113,473 40 Commercial paper (182 ) 128,473 19 — — — (182 ) 128,473 19 Corporate debt securities (2,373 ) 35,067 32 (587 ) 2,672 2 (2,960 ) 37,739 34 Municipal securities (2,170 ) 5,284 4 (1,442 ) 3,790 7 (3,612 ) 9,074 11 Total available for sale $ (15,339 ) $ 291,676 104 $ (7,396 ) $ 52,214 23 $ (22,735 ) $ 343,890 127 Municipal securities $ (146 ) $ 4,590 10 $ — $ — — $ (146 ) $ 4,590 10 Total held to maturity $ (146 ) $ 4,590 10 $ — $ — — $ (146 ) $ 4,590 10 Less than Twelve Months Twelve Months or More Total (dollars in thousands) Unrealized Losses Estimated Fair Value No. of Issuances Unrealized Losses Estimated Fair Value No. of Issuances Unrealized Losses Estimated Fair Value No. of Issuances December 31, 2021 Government agency securities $ (83 ) $ 4,860 1 $ — $ — — $ (83 ) $ 4,860 1 Mortgage-backed securities- Government sponsored agencies (536 ) 44,009 12 (4 ) 9,974 2 (540 ) 53,983 14 Collateralized mortgage obligations (1,916 ) 79,851 23 (78 ) 17,782 4 (1,994 ) 97,633 27 Commercial paper (36 ) 129,926 19 — — — (36 ) 129,926 19 Corporate debt securities (254 ) 13,208 12 — — — (254 ) 13,208 12 Municipal securities (160 ) 11,447 9 (27 ) 1,067 2 (187 ) 12,514 11 Total available for sale $ (2,985 ) $ 283,301 76 $ (109 ) $ 28,823 8 $ (3,094 ) $ 312,124 84 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 six June 30, 2022 three six June 30, 2021 June 30, 2022 December 31, 2021. |
Note 5 - Loans and Allowance fo
Note 5 - Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2022 | |
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, Las Vegas, Nevada, Edison, New Jersey and Honolulu, Hawaii. 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. For the Three Months Ended June 30, 2022 2021 (dollars in thousands) Real Estate Commercial Other Unallocated Total Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning balance $ 29,022 $ 3,800 $ 470 $ — $ 33,292 $ 25,934 $ 4,781 $ 46 $ 34 $ 30,795 Provisions 1,471 (550 ) (6 ) — 915 567 96 (30 ) (5 ) 628 Charge-offs — — (55 ) — (55 ) (67 ) (90 ) — — (157 ) Recoveries — — 2 — 2 — — 86 — 86 $ 30,493 $ 3,250 $ 411 $ — $ 34,154 $ 26,434 $ 4,787 $ 102 $ 29 $ 31,352 For the Six Months Ended June 30, 2022 2021 (dollars in thousands) Real Estate Commercial Other Unallocated Total Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning balance $ 28,592 $ 3,793 $ 527 $ — $ 32,912 $ 24,677 $ 4,617 $ 43 $ — $ 29,337 Provisions 1,901 (603 ) (17 ) — 1,281 1,824 260 15 29 2,128 Charge-offs — — (102 ) — (102 ) (67 ) (90 ) (42 ) — (199 ) Recoveries — 60 3 — 63 — — 86 — 86 $ 30,493 $ 3,250 $ 411 $ — $ 34,154 $ 26,434 $ 4,787 $ 102 $ 29 $ 31,352 For the Year Ended December 31, 2021 (dollars in thousands) Real Estate Commercial Other Total Allowance for loan losses: Beginning balance $ 24,677 $ 4,617 $ 43 $ 29,337 Provisions 3,982 (480 ) 457 3,959 Charge-offs (67 ) (501 ) (59 ) (627 ) Recoveries — 157 86 243 $ 28,592 $ 3,793 $ 527 $ 32,912 The following table presents the recorded investment in loans and impairment method as of June 30, 2022 2021 December 31, 2021, (dollars in thousands) June 30, 2022 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ 2 $ — $ — $ 2 General 30,493 3,248 411 — 34,152 Total allowance for loan losses $ 30,493 $ 3,250 $ 411 $ — $ 34,154 Loans evaluated for impairment: Individually $ 7,534 $ 6,403 $ — $ — $ 13,937 Collectively 2,715,320 290,945 25,744 — 3,032,009 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 2,722,854 $ 297,348 $ 25,744 $ — $ 3,045,946 June 30, 2021 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ 440 $ — $ — $ 440 General 26,434 4,347 102 29 30,912 Total allowance for loan losses $ 26,434 $ 4,787 $ 102 $ 29 $ 31,352 Loans evaluated for impairment: Individually $ 12,032 $ 7,211 $ — $ — $ 19,243 Collectively 2,311,711 368,441 9,811 — 2,689,963 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 2,323,743 $ 375,652 $ 9,811 $ — $ 2,709,206 December 31, 2021 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ 30 $ — $ — $ 30 General 28,592 3,763 527 — 32,882 Total allowance for loan losses $ 28,592 $ 3,793 $ 527 $ — $ 32,912 Loans evaluated for impairment: Individually $ 10,340 $ 10,385 $ — $ — $ 20,725 Collectively 2,545,379 334,460 30,786 — 2,910,625 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 2,555,719 $ 344,845 $ 30,786 $ — $ 2,931,350 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 June 30, 2022 December 31, 2021: (dollars in thousands) Special June 30, 2022 Pass Mention Substandard Impaired Total Real estate: Construction and land development $ 356,631 $ — $ — $ 141 $ 356,772 Commercial real estate 1,118,952 — 39,438 1,960 1,160,350 Single-family residential mortgages 1,200,243 — 56 5,433 1,205,732 Commercial: Commercial and industrial 209,590 23,281 3,753 1,421 238,045 SBA 49,541 — 4,780 4,982 59,303 Other: 25,744 — — — 25,744 $ 2,960,701 $ 23,281 $ 48,027 $ 13,937 $ 3,045,946 (dollars in thousands) Special December 31, 2021 Pass Mention Substandard Impaired Total Real estate: Construction and land development $ 299,333 $ 3,662 $ — $ 149 $ 303,144 Commercial real estate 1,184,889 2,006 55,104 6,000 1,247,999 Single-family residential mortgages 1,000,385 — — 4,191 1,004,576 Commercial: Commercial and industrial 255,439 — 9,148 4,122 268,709 SBA 62,300 1,303 6,270 6,263 76,136 Other: 30,786 — — — 30,786 $ 2,833,132 $ 6,971 $ 70,522 $ 20,725 $ 2,931,350 The following table presents the aging of the recorded investment in past-due loans at June 30, 2022 December 31, 2021 (dollars in thousands) 30 59 60 89 90 Days Total Loans Not Non-Accrual June 30, 2022 Days Days Or More Past Due Past Due Total Loans Loans (1) Real estate: Construction and land development $ — $ — $ 141 $ 141 $ 356,631 $ 356,772 $ 141 Commercial real estate 243 — 667 910 1,159,440 1,160,350 667 Single-family residential mortgages 3,064 3,660 2,933 9,657 1,196,075 1,205,732 5,433 Commercial: Commercial and industrial 1,186 5 1,063 2,254 235,791 238,045 1,063 SBA — 1,720 3,686 5,406 53,897 59,303 4,982 Other: 88 13 — 101 25,643 25,744 — $ 4,581 $ 5,398 $ 8,490 $ 18,469 $ 3,027,477 $ 3,045,946 $ 12,286 Real estate: Single-family residential mortgages held for sale $ — $ — $ — $ — $ — $ — $ — (dollars in thousands) 30 59 60 89 90 Days Total Loans Not Non-Accrual December 31, 2021 Days Days Or More Past Due Past Due Total Loans Loans (1) Real estate: Construction and land development $ — $ — $ 149 $ 149 $ 302,995 $ 303,144 $ 149 Commercial real estate 1,914 3,002 667 5,583 1,242,416 1,247,999 4,672 Single-family residential mortgages 10,554 2,238 2,680 15,472 989,104 1,004,576 4,191 Commercial: Commercial and industrial 1,575 — 3,689 5,264 263,445 268,709 3,712 SBA — 1,733 4,839 6,572 69,564 76,136 6,263 Other: 57 7 — 64 30,722 30,786 — $ 14,100 $ 6,980 $ 12,024 $ 33,104 $ 2,898,246 $ 2,931,350 $ 18,987 Real estate: Single-family residential mortgages held for sale $ — $ — $ — $ — $ 5,957 $ 5,957 $ — ( 1 Included in total loans. The Company has no loans that are 90 June 30, 2022 December 31, 2021. Information relating to individually impaired loans presented by class of loans was as follows at June 30, 2022 December 31, 2021: Unpaid (dollars in thousands) Principal Recorded Related June 30, 2022 Balance Investment Allowance With no related allowance recorded Construction and land development $ 173 $ 141 $ — Commercial and industrial 1,445 1,421 — Commercial real estate 1,972 1,960 — Single-family residential mortgage loans 5,616 5,433 — Commercial - SBA 4,973 4,973 — With related allowance recorded Commercial-SBA 10 9 2 Total $ 14,189 $ 13,937 $ 2 Unpaid (dollars in thousands) Principal Recorded Related December 31, 2021 Balance Investment Allowance With no related allowance recorded Construction and land development $ 173 $ 149 $ — Commercial and industrial 4,096 4,096 — Commercial real estate 6,059 6,000 — Residential mortgage loans 4,365 4,191 — Commercial - SBA 6,274 6,245 — With related allowance recorded Commercial and industrial 27 26 27 Commercial-SBA 18 18 3 Total $ 21,012 $ 20,725 $ 30 The following table presents information on impaired loans and leases, disaggregated by loan segment, for the periods indicated: Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 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 $ 173 $ — $ 173 $ — $ 173 $ 8 $ 173 $ — Commercial and industrial 1,452 6 470 7 1,464 13 480 15 Commercial real estate 1,979 33 1,953 33 1,988 64 1,967 67 Residential mortgage loans 5,636 — 10,403 — 5,649 — 10,407 — Commercial - SBA 5,173 — 7,146 — 5,173 — 7,228 — With related allowance recorded Commercial and industrial — — 437 — — — 437 — Other 13 — 28 — 15 — 30 1 Total $ 14,426 $ 39 $ 20,610 $ 40 $ 14,462 $ 85 $ 20,722 $ 83 No three six June 30, 2022 2021 December 31, 2021. 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. December 27, 2020, March 1, 2020 January 1, 2022 60 19 19 19 The Company identified seven June 30, 2022 nine December 31, 2021, June 30, 2022 December 31, 2021, June 30, 2022 December 31, 2021, June 30, 2022 December 31, 2021 twelve There were no loans modified as TDRs during the three six June 30, 2022 two three six June 30, 2021. two six nine 2022 2021. |
Note 6 - Loan Servicing
Note 6 - Loan Servicing | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Loan Servicing [Text Block] | NOTE 6 Loans serviced for others are not June 30, 2022 December 31, 2021 June 30, December 31, (dollars in thousands) 2022 2021 Loans serviced for others: Mortgage loans $ 1,196,133 $ 1,308,672 SBA loans 129,294 138,173 Commercial real estate loans 4,031 4,070 The fair value of servicing assets for mortgage loans was $18.2 million and $15.4 million at June 30, 2022 December 31, 2021, June 30, 2022 December 31, 2021, Servicing fees net of servicing asset amortization totaled $472,000 and $904,000 for the three six June 30, 2022 three six June 30, 2021. 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 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 Six Months Ended June 30, 2022 June 30, 2022 Mortgage SBA Mortgage SBA (dollars in thousands) Loans Loans Loans Loans Servicing assets: Beginning of period $ 8,264 $ 2,784 $ 8,748 $ 2,769 Additions 148 21 448 184 Disposals (173 ) (221 ) (564 ) (272 ) Amortized to expense (273 ) (94 ) (666 ) (191 ) End of period $ 7,966 $ 2,490 $ 7,966 $ 2,490 Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 Mortgage SBA Mortgage SBA (dollars in thousands) Loans Loans Loans Loans Servicing assets: Beginning of period $ 9,956 $ 3,308 $ 10,529 $ 3,436 Additions 581 131 1,209 207 Disposals (719 ) (78 ) (1,341 ) (161 ) Amortized to expense (500 ) (121 ) (1,079 ) (242 ) End of period $ 9,318 $ 3,240 $ 9,318 $ 3,240 |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangibles | 6 Months Ended |
Jun. 30, 2022 | |
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 non-controlling 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 and branch acquisitions are tested for impairment at least annually. The Company has historically selected December 31st June 30, 2022 December 31, 2021, Other intangible assets consist of core deposit intangible ("CDI") assets arising from whole bank and branch acquisitions. CDI assets are amortized on an accelerated method over their estimated useful life of 8 to 10 years. In January 2022, June 30, 2022 December 31, 2021 three June 30, 2022 2021, six June 30, 2022 2021. Estimated CDI amortization expense for future years is as follows: (dollars in thousands) As of June 30: Remainder of 2022 $ 530 2023 923 2024 784 2025 672 2026 501 Thereafter 838 Total $ 4,248 |
Note 8 - Deposits
Note 8 - Deposits | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 8 At June 30, 2022 (dollars in thousands) June 30, 2022 One year $ 1,074,566 Two to three years 37,783 Over three years 1,900 Total $ 1,114,249 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 | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | NOTE 9 In November 2018, December 1, 2028. December 1, 2023 three December 1, 2023. 2 1 In March 2021, April 1, 2031. April 1, 2026 three April 1, 2026. 2 1 At June 30, 2022 December 31, 2021, June 30, December 31, (dollars in thousands) 2022 2021 Principal $ 175,000 $ 175,000 Unamortized debt issuance costs $ 1,704 $ 1,993 The following table presents interest and amortization expense the Company incurred for the three six June 30, 2022 2021: For the Three Months Ended June 30, For the Six Months Ended June 30, (dollars in thousands) 2022 2021 2022 2021 Interest Expense: Interest $ 2,050 $ 2,050 $ 4,100 $ 3,779 Amortization 145 157 289 236 The Intercontinental Exchange (“ICE”) Benchmark Administration ceased publishing 1 2 2021 June 30, 2023. |
Note 10 - Subordinated Debentur
Note 10 - Subordinated Debentures | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | NOTE 10 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 June 30, 2022 December 31, 2021. In October 2018, December 2004. thirty not five three December 15, 2034. June 30, 2022 December 31, 2021. In January 2020, December 2004. not five three December 15, 2034. June 30, 2022 December 31, 2021. The Company paid interest expense of $130,000 and $95,000 for the three June 30, 2022 2021, six June 30, 2022 2021 three June 30, 2022 2021, six June 30, 2022 2021. For regulatory reporting purposes, the Federal Reserve has indicated that the capital or trust preferred securities qualify as Tier 1 not $15 no may The ICE Benchmark Administration ceased publishing 1 2 2021 June 30, 2023. |
Note 11 - Borrowing Arrangement
Note 11 - Borrowing Arrangements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 11 The Company has established secured and unsecured lines of credit. The Company may Federal Funds Arrangements with Commercial Banks. June 30, 2022 may Letter of Credit Arrangements. June 30, 2022 FRB Secured Line of Credit. June 30, 2022 FHLB Secured Line of Credit. June 30, 2022 FHLB Advances. June 30, 2022 five three June 30, 2022 2021, six June 30, 2022 2021 June 30, 2022 December 31, 2021. |
Note 12 - Income Taxes
Note 12 - Income Taxes | 6 Months Ended |
Jun. 30, 2022 | |
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 June 30, 2022 2021, three June 30, 2022 2021, six June 30, 2022 2021, six June 30, 2022 2021, three June 30, 2022 2021, six June 30, 2022 2021 |
Note 13 - Commitments
Note 13 - Commitments | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | NOTE 13 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 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 June 30, 2022 December 31, 2021, June 30, December 31, (dollars in thousands) 2022 2021 Commitments to make loans $ 160,680 $ 202,288 Unused lines of credit 260,851 251,931 Commercial and similar letters of credit 3,080 1,214 Standby letters of credit 3,230 4,728 Total $ 427,841 $ 460,161 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 - Leases
Note 14 - Leases | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Lease, Disclosure [Table Text Block] | NOTE 14 On January 1, 2021, 2016 02, 842 not not not The Company determines if a contract arrangement is a lease at inception and primarily enters into operating lease contracts for its branch locations, office space, and certain equipment. As part of its property lease agreements, the Company may not not June 30, 2022 The ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The Company uses its incremental borrowing rate to determine the present value of its lease liabilities. The Company leases several of its operating facilities under various non-cancellable operating leases expiring at various dates through 2036. Future minimum rent payments on the Company’s leases were as follows at June 30, 2022 (dollars in thousands) As of June 30, 2022: 2022 remaining $ 2,247 2023 4,805 2024 3,655 2025 3,485 2026 3,478 Thereafter 10,520 Total $ 28,190 Less amount of payment representing interest (1,367 ) Total present value of lease payments $ 26,823 The minimum rent payments shown above are given for the existing lease obligation and are not three June 30, 2022 2021, six June 30, 2022 2021, second 2022 2021, six June 30, 2022 2021, second 2022, ten The following table presents the operating lease related assets and liabilities recorded on the Consolidated Balance Sheet, and the weighted-average remaining lease terms and discount rates as of June 30, 2022 December 31, 2021 : June 30, December 31, (dollars in thousands) 2022 2021 Operating Leases ROU assets $ 25,931 $ 22,454 Lease liabilities 26,823 23,282 Weighted-average remaining lease term (in years) 7.32 6.84 Weighted-average discount rate 1.68 % 1.01 % |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 15 Loans to principal officers, directors, and their affiliates were as follows: June 30, December 31, (dollars in thousands) 2022 2021 Beginning balance $ 8,441 $ 1,243 New loans and advances — 10,292 Repayments (1,572 ) $ (3,094 ) Ending balance $ 6,869 $ 8,441 There were $1.6 million unfunded loan commitments outstanding to executive officers, directors and their related interests with whom they are associated at June 30, 2022 December 31, 2021. Deposits from principal officers, directors, and their affiliates at June 30, 2022 December 31, 2021 Several directors and their affiliates own in the aggregate $8.1 million of RBB's subordinated debentures as of June 30, 2022 |
Note 16 - Stock-based Compensat
Note 16 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 16 RBB Bancorp 2010 Under the RBB Bancorp 2010 “2010 2010 2010 2017 May 2017, no 2010 2010 2010 2010 2010 Amended and Restated RBB Bancorp 2017 The Amended and Restated RBB Bancorp 2017 January 2019 May 2022. June 30, 2022 June 30, 2022 The recorded compensation expense for stock options was $71,000 and $121,000 and the Company recognized income tax benefit of $279,000 and $68,000 for the three June 30, 2022 2021, six June 30, 2022 2021, June 30, 2022 2021, June 30, 2022 The fair value of each option grants was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions presented below for 2022 2021. May 2022 July 2021 January 2021 Expected volatility 29.5 % 31.6 % 30.8 % Expected term (years) 6.0 6.0 6.0 Expected dividends 2.52 % 1.98 % 1.86 % Risk free rate 2.71 % 0.48 % 0.26 % Grant date fair value $ 5.28 $ 5.69 $ 4.14 The expected volatility was based on the historical volatility of the Company stock 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 option awards pursuant to the Company's stock option plans as of June 30, 2022 six 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 943,918 $ 14.66 Granted 10,000 21.46 Exercised (224,376 ) 12.72 Forfeited/cancelled (69,000 ) 16.48 Outstanding at end of period 660,542 $ 15.23 3.51 $ 3,649 Options exercisable 542,537 $ 14.49 2.40 $ 3,354 As of December 31, 2021, six June 30, 2022, $21.46 $18.39 six June 30, 2022, The total fair value of the 51,495 and 35,500 vested shares was $1.1 million and $860,000 during the six June 30, 2022 2021, June 30, 2022 2021, Cash received from the exercise of 198,613 stock options was $2.5 million for the three June 30, 2022 three June 30, 2021 three June 30, 2022 2021 six June 30, 2022 six June 30, 2021 six June 30, 2022 2021, The Company did not 2022. 2021. three January 21, 2021 April 8, 2022, June 30, 2022 The recorded compensation expense for restricted stock was $6,000 and $195,000 for the three June 30, 2022 2021, six June 30, 2022 2021, June 30, 2022 2021, The following table presents restricted stock activity during the six June 30, 2022 Weighted-Average Grant Date (dollars in thousands, except for share amounts) Shares Fair Value Outstanding at beginning of year 60,000 $ 17.74 Granted — — Vested (20,000 ) 17.74 Forfeited/cancelled (40,000 ) 17.74 Outstanding at end of period — $ — The Company granted 39,497 restricted stock units at a closing price of $27.16 on January 19, 2022, one three June 30, 2022 The recorded compensation expense for restricted stock units was $72,000 and none for the three June 30, 2022 2021, six June 30, 2022 2021, June 30, 2022 2021, June 30, 2022 second 2022, The following table presents restricted stock unit activity during the six June 30, 2022 Weighted-Average Grant Date (dollars in thousands, except for share amounts) Shares Fair Value Outstanding at beginning of year — $ — Granted 39,497 27.16 Vested (1,000 ) 27.16 Forfeited/cancelled (15,727 ) 27.16 Outstanding at end of period 22,770 $ 27.16 |
Note 17 - Regulatory Matters
Note 17 - Regulatory Matters | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 17 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 June 30, 2022 December 31, 2021, 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 To Be Well-Capitalized Minimum Required for Under Prompt Corrective Actual Capital Adequacy Purposes Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of June 30, 2022: Tier 1 Leverage Ratio Consolidated $ 419,555 10.95 % $ 153,193 4.0 % N/A N/A Bank 532,221 13.90 % 153,170 4.0 % 191,463 5.0 % Common Equity Tier 1 Risk-Based Capital Ratio Consolidated $ 404,944 14.82 % $ 122,997 4.5 % N/A N/A Bank 532,221 19.51 % 122,737 4.5 % 177,287 6.5 % Tier 1 Risk-Based Capital Ratio Consolidated $ 419,555 15.35 % $ 163,996 6.0 % N/A N/A Bank 532,221 19.51 % 163,649 6.0 % 218,199 8.0 % Total Risk-Based Capital Ratio Consolidated $ 627,030 22.94 % $ 218,661 8.0 % N/A N/A Bank 566,328 20.76 % 218,199 8.0 % 272,749 10.0 % Amount of Capital Required To Be Well-Capitalized Minimum Required for Under Prompt Corrective Actual Capital Adequacy Purposes Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2021: Tier 1 Leverage Ratio Consolidated $ 410,134 10.21 % $ 160,642 4.0 % N/A N/A Bank 499,325 12.45 % 160,418 4.0 % 200,523 5.0 % Common Equity Tier 1 Risk Based Capital Ratio Consolidated $ 395,632 14.86 % $ 119,841 4.5 % N/A N/A Bank 499,325 18.80 % 119,550 4.5 % 172,684 6.5 % Tier 1 Risk-Based Capital Ratio Consolidated $ 410,134 15.40 % $ 159,788 6.0 % N/A N/A Bank 499,325 18.80 % 159,401 6.0 % 212,534 8.0 % Total Risk-Based Capital Ratio Consolidated $ 616,440 23.15 % $ 213,051 8.0 % N/A N/A Bank 532,544 20.05 % 212,534 8.0 % 265,668 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 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 18 - Fair Value Measuremen
Note 18 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | NOTE 18 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 Interest Rate Lock Contracts and Forward Mortgage Loan Sale Contracts: 3 Collateral-dependent impaired loans 3 no June 30, 2022 December 31, 2021. The following table provides the hierarchy and fair value for each major category of assets and liabilities measured at fair value at June 30, 2022 December 31, 2021: (dollars in thousands) Fair Value Measurements Using: June 30, 2022 Level 1 Level 2 Level 3 Total Assets measured at fair value: On a recurring basis: Securities available for sale Government agency securities $ — $ 4,991 $ — $ 4,991 SBA agency securities — 2,750 — 2,750 Mortgage-backed securities — 47,390 — 47,390 Collateralized mortgage obligations — 127,213 — 127,213 Commercial paper — 128,473 — 128,473 Corporate debt securities — 38,244 — 38,244 Municipal securities — 9,074 — 9,074 Interest Rate Lock Contracts — — 71 71 $ — $ 358,135 $ 71 $ 358,206 On a non-recurring basis: Other real estate owned $ — $ — $ 293 $ 293 December 31, 2021 Level 1 Level 2 Level 3 Total Assets measured at fair value: On a recurring basis: Securities available for sale Government agency securities $ — $ 5,610 $ — $ 5,610 SBA agency securities — 3,469 — 3,469 Mortgage-backed securities — 55,025 — 55,025 Collateralized mortgage obligations — 119,511 — 119,511 Commercial paper — 129,926 — 129,926 Corporate debt securities — 42,205 — 42,205 Municipal securities — 12,514 — 12,514 Interest Rate Lock Contracts — — 141 141 Forward Mortgage Loan Sale Contracts — — 124 124 $ — $ 368,260 $ 265 $ 368,525 On a non-recurring basis: Other real estate owned $ — $ — $ 293 $ 293 No write-downs to OREO were recorded for the six June 30, 2022 December 31, 2021. Quantitative information about the Company's OREO non-recurring Level 3 June 30, 2022 December 31, 2021 OREO consisted of one June 30, 2022 December 31, 2021. third Interest Rate Lock Commitments ("IRLCs"): Agreements under which the Company agrees to extend credit to a borrower under certain specified terms and conditions in which the interest rate and the maximum amount of the loan are set prior to funding. Under the agreement, the Company commits to lend funds to a potential borrower (subject to the Company’s approval of the loan) on a fixed or adjustable rate basis, regardless of whether interest rates change in the market, or on a floating rate basis. As such, outstanding IRLCs are subject to interest rate risk and related price risk during the period from the date of issuance through the date of loan funding, cancelling or expiration. Loan commitments generally range between 30 90 not not The FASB Accounting Standards Codification (“FASB ASC”) provides that IRLCs on mortgage loans that will be held for resale are derivatives and must be accounted for at fair value on the balance sheet (if material). FASB ASC Topic 820 not Forward Mortgage Loan Sale Contracts ("FMLSCs"): The Company is subject to interest rate and price risk on its mortgage loans held for sale from the loan funding date until the date the loan is sold. Best efforts commitments which fix the forward sales price that will be realized in the secondary market are used to eliminate the interest rate and price risk to the Company. To avoid interest rate risk, the Company will enter into FMLSCs at the time they make an interest rate lock commitment to the buyer. They can enter into mortgage loan sales commitments on a “mandatory” or “best efforts” basis. Mandatory commitments provide that the loan must be delivered or the commitment be “paired off”. In general, best efforts commitments provide that the loan be delivered if and when it closes. Quantitative information about the Company's recurring Level 3 June 30, 2022 December 31, 2021 At December 31, 2021, December 31, 2021 first three 2022. 2022. June 30, 2022 The fair value measurement of IRLCs and FMLSCs were primarily based on the buy price from borrowers ranging from 97 to 100, the sale price to Fannie Mae ranging from 100 to 105, and the significant unobservable inputs using margin cost rate of 1.50%. Mandatory delivery commitments, also known as forward loan sales commitments, are considered to be derivatives under FASB ASC Topic 815 ● They have a specified underlying (the contractually specified price for the loans) ● They have a notional amount (the committed loan principal amount) ● They require little or no ● They require or permit net settlement as the institution via a pair-off transaction or the payment of a pair-off fee. |
Note 19 - Fair Value of Financi
Note 19 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 19 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 and held-to-maturity are measured by using quoted market prices for similar securities or dealer quotes, a Level 2 Equity securities fair value are measured based on unobservable inputs 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 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 commitments to extend credit and standby letters of credit, interest rate lock commitments and forward mortgage loan sales contracts is estimated using the fees currently charged to enter into similar agreements. Unobservable inputs that reflect the Company's own assumptions about the assumptions that market participants would use in pricing an asset or liability result in a Level 3 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 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 June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Fair Value Carrying Fair Carrying Fair (dollars in thousands) Hierarchy Value Value Value Value Financial Assets: Cash and due from banks Level 1 $ 224,736 $ 224,736 $ 501,372 $ 501,372 Federal funds sold and other cash equivalents Level 1 100,000 100,000 193,000 193,000 Interest-earning deposits in other financial institutions Level 1 600 600 600 600 Investment securities - AFS Level 2 358,135 358,135 368,260 368,260 Investment securities - HTM Level 2 5,741 5,615 6,252 6,577 Mortgage loans held for sale Level 1 — — 5,957 6,055 Loans, net Level 3 3,011,792 3,019,603 2,898,438 2,908,742 Equity securities Level 3 19,964 19,964 19,992 19,992 Servicing assets: Level 2 10,456 21,931 11,517 19,442 Notional Fair Notional Fair Derivative assets: Value Value Value Value Interest Rate Lock Contracts Level 3 $ 3,172 $ 71 $ 8,099 $ 141 Forward Mortgage Loan Sale Contracts Level 3 — — 14,296 124 Carrying Fair Carrying Fair Financial Liabilities: Value Value Value Value Deposits Level 2 $ 3,027,565 $ 2,992,349 $ 3,385,532 $ 3,388,008 FHLB advances Level 3 250,000 237,408 150,000 143,237 Long-term debt Level 3 173,296 153,486 173,007 175,773 Subordinated debentures Level 3 14,611 13,292 14,502 13,991 |
Note 20 - Earnings Per Share
Note 20 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 20 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 June 30, 2022 2021 (dollars in thousands except per share amounts) Income Shares Income Shares Net income as reported $ 15,477 $ 13,380 Less: Earnings allocated to participating securities $ (3 ) $ (51 ) Shares outstanding 18,881,829 19,349,802 Impact of weighting shares 184,792 11,111 Used in basic EPS 15,474 19,066,621 13,329 19,360,913 Dilutive effect of outstanding Stock options 233,276 514,056 Restricted Stock Unit 24,356 — Used in dilutive EPS $ 15,474 19,324,253 $ 13,329 19,874,969 Basic earnings per common share $ 0.81 $ 0.69 Diluted earnings per common share $ 0.80 $ 0.67 For the Six Months Ended June 30, 2022 2021 (dollars in thousands except per share amounts) Income Shares Income Shares Net income as reported $ 30,094 $ 25,836 Less: Earnings allocated to participating securities (34 ) (91 ) Shares outstanding 18,881,829 19,349,802 Impact of weighting shares 339,326 104,087 Used in basic EPS 30,060 19,221,155 25,745 19,453,889 Dilutive effect of outstanding Stock options 311,852 390,188 Restricted Stock Units 27,468 — Used in dilutive EPS $ 30,060 19,560,476 $ 25,745 19,844,077 Basic earnings per common share $ 1.56 $ 1.32 Diluted earnings per common share $ 1.54 $ 1.30 Stock options for 15,000 shares and zero shares of common stock were not June 30, 2022 2021, |
Note 21 - Revenue From Contract
Note 21 - Revenue From Contracts With Customers | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 21 REVENUE FROM CONTRACTS WITH CUSTOMERS The following is a summary of revenue from contracts with customers that are in-scope and not 606: For the Three Months Ended June 30, For the Six Months Ended June 30, (dollars in thousands) 2022 2021 2022 2021 Non-interest income, in scope (1) Fees and service charges on deposit accounts $ 554 $ 618 $ 1,074 $ 1,305 Other fees (2) 184 148 317 283 Other income (3) 564 525 1,074 1,155 Gain on sale of OREO and fixed assets 757 — 757 — Total in-scope non-interest income 2,059 1,291 3,222 2,743 Non-interest income, not in scope (4) 1,363 2,880 3,142 7,322 Total non-interest income $ 3,422 $ 4,171 $ 6,364 $ 10,065 ( 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. 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 |
Note 22 - Qualified Affordable
Note 22 - Qualified Affordable Housing Project Investments | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Affordable Housing Program [Text Block] | NOTE 22 The Company began investing in qualified housing projects in 2016. June 30, 2022 December 31, 2021, June 30, 2022 December 31, 2021, 2022 2029. For the three June 30, 2022 2021, six June 30, 2022 2021, |
Note 23 - Recent Developments
Note 23 - Recent Developments | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 23 On July 20, 2022 second 2022. August 12, 2022 August 1, 2022 On July, 21, 022, may |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
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 six June 30, 2022 not December 31, 2021, 10 December 31, 2021 No. 1 10 “2021 |
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 could change as 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, 2021 2021 |
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, 842 not 12 January 1, 2021 In June 2016, 2016 13, 326 not 1 2 not 2016 13 2016 13 December 15, 2020, December 31, 2022. first third second 2022. one 2016 13 December 31, 2022. In February 2019, three one 2016 13. March 2020, two five 2019 19" five not December 31, 2022. In January 2017, 2017 04, 350 2 2 not not 2017 04 December 15, 2019. December 31, 2022. 2017 04 not In January 2020, 2020 01, 321 323 815 321 not December 15, 2021, 2020 01 January 1, 2022 not In February 2020, 2020 02, 326 842 No. 119 No. 2016 02, 842 December 31, 2022. In March 2020, 2020 04, 848 December 31, 2022. June 30, 2022 9 10 10 In October 2021 , 2021 08 , , not December 15, 2022. January 1, 2023. In March 2022, 2022 02, 326 326 2016 13 December 31, 2022, 2022 02 December 31, 2022. |
Note 3 - Acquisitions (Tables)
Note 3 - Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
PGB Holdings Inc. [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | BOTO Fair Value Fair (dollars in thousands) Book Value Adjustments Value Assets acquired Cash and cash equivalents $ 312 $ — $ 312 Loans, gross 7,352 38 7,390 Bank premises and equipment 12 — 12 Core deposit premium — 729 729 Other assets 412 (360 ) 52 Total assets acquired $ 8,088 $ 407 $ 8,495 Liabilities assumed Deposits $ 81,673 $ 27 $ 81,700 Escrow Payable 2 — 2 Other liabilities 460 (372 ) 88 Total liabilities assumed 82,135 (345 ) 81,790 Excess of assets acquired over liabilities assumed (74,047 ) 752 (73,295 ) $ 8,088 $ 407 Cash received 71,040 Goodwill recognized $ 2,255 |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Available for Sale Securities, and Held to Maturity [Table Text Block] | Gross Gross (dollars in thousands) Amortized Unrealized Unrealized Fair June 30, 2022 Cost Gains Losses Value Available for sale Government agency securities $ 5,364 $ — $ (373 ) $ 4,991 SBA agency securities 2,877 — (127 ) 2,750 Mortgage-backed securities- Government sponsored agencies 52,299 — (4,909 ) 47,390 Collateralized mortgage obligations 137,776 9 (10,572 ) 127,213 Commercial paper 128,655 — (182 ) 128,473 Corporate debt securities 41,198 6 (2,960 ) 38,244 Municipal securities 12,686 — (3,612 ) 9,074 Total $ 380,855 $ 15 $ (22,735 ) $ 358,135 Held to maturity Municipal taxable securities $ 1,005 $ 20 $ — $ 1,025 Municipal securities 4,736 — (146 ) 4,590 Total $ 5,741 $ 20 $ (146 ) $ 5,615 Gross Gross (dollars in thousands) Amortized Unrealized Unrealized Fair December 31, 2021 Cost Gains Losses Value Available for sale Government agency securities $ 5,689 $ 4 $ (83 ) $ 5,610 SBA agency securities 3,351 118 — 3,469 Mortgage-backed securities- Government sponsored agencies 55,534 31 (540 ) 55,025 Collateralized mortgage obligations 121,377 128 (1,994 ) 119,511 Commercial paper 129,962 — (36 ) 129,926 Corporate debt securities 41,999 460 (254 ) 42,205 Municipal securities 12,701 — (187 ) 12,514 Total $ 370,613 $ 741 $ (3,094 ) $ 368,260 Held to maturity Municipal taxable securities $ 1,506 $ 77 $ — $ 1,583 Municipal securities 4,746 248 — 4,994 Total $ 6,252 $ 325 $ — $ 6,577 |
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 June 30, 2022 Government agency securities $ — $ — $ 5,364 $ 4,991 $ — $ — $ — $ — $ 5,364 $ 4,991 SBA agency securities — — 1,275 1,212 1,602 1,538 — — 2,877 2,750 Mortgage-backed securities- Government sponsored agencies — — 19,249 18,221 17,992 16,362 15,058 12,807 52,299 47,390 Collateralized mortgage obligations 3,034 3,034 37,290 35,566 93,299 85,289 4,153 3,324 137,776 127,213 Commercial paper 128,655 128,473 — — — — — — 128,655 128,473 Corporate debt securities — — 9,874 9,625 28,651 26,670 2,673 1,949 41,198 38,244 Municipal securities — — — — — — 12,686 9,074 12,686 9,074 Total available for sale $ 131,689 $ 131,507 $ 73,052 $ 69,615 $ 141,544 $ 129,859 $ 34,570 $ 27,154 $ 380,855 $ 358,135 Municipal taxable securities $ — $ — $ 1,005 $ 1,025 $ — $ — $ — $ — $ 1,005 $ 1,025 Municipal securities — — — — 1,742 1,709 2,994 2,881 4,736 4,590 Total held to maturity $ — $ — $ 1,005 $ 1,025 $ 1,742 $ 1,709 $ 2,994 $ 2,881 $ 5,741 $ 5,615 (dollars in thousands) December 31, 2021 Government agency securities $ — $ — $ 5,689 $ 5,610 $ — $ — $ — $ — $ 5,689 $ 5,610 SBA agency securities — — 1,551 1,582 1,800 1,887 — — 3,351 3,469 Mortgage-backed securities- Government sponsored agencies 5,001 4,998 35,254 35,000 15,279 15,027 — — 55,534 55,025 Collateralized mortgage obligations 117 117 78,021 76,496 43,239 42,898 — — 121,377 119,511 Commercial paper 129,962 129,926 — — — — — — 129,962 129,926 Corporate debt securities 7,999 8,007 8,389 8,633 22,927 22,931 2,684 2,634 41,999 42,205 Municipal securities — — — — — — 12,701 12,514 12,701 12,514 Total available for sale $ 143,079 $ 143,048 $ 128,904 $ 127,321 $ 83,245 $ 82,743 $ 15,385 $ 15,148 $ 370,613 $ 368,260 Municipal taxable securities $ 500 $ 502 $ 1,006 $ 1,081 $ — $ — $ — $ — $ 1,506 $ 1,583 Municipal securities — — — — 1,743 1,818 3,003 3,176 4,746 4,994 Total held to maturity $ 500 $ 502 $ 1,006 $ 1,081 $ 1,743 $ 1,818 $ 3,003 $ 3,176 $ 6,252 $ 6,577 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than Twelve Months Twelve Months or More Total (dollars in thousands) Unrealized Losses Estimated Fair Value No. of Issuances Unrealized Losses Estimated Fair Value No. of Issuances Unrealized Losses Estimated Fair Value No. of Issuances June 30, 2022 Government agency securities $ (373 ) $ 4,991 3 $ — $ — — $ (373 ) $ 4,991 3 SBA securities (127 ) 2,750 4 — — — (127 ) 2,750 4 Mortgage-backed securities- Government sponsored agencies (3,189 ) 35,927 12 (1,720 ) 11,463 4 (4,909 ) 47,390 16 Collateralized mortgage obligations (6,925 ) 79,184 30 (3,647 ) 34,289 10 (10,572 ) 113,473 40 Commercial paper (182 ) 128,473 19 — — — (182 ) 128,473 19 Corporate debt securities (2,373 ) 35,067 32 (587 ) 2,672 2 (2,960 ) 37,739 34 Municipal securities (2,170 ) 5,284 4 (1,442 ) 3,790 7 (3,612 ) 9,074 11 Total available for sale $ (15,339 ) $ 291,676 104 $ (7,396 ) $ 52,214 23 $ (22,735 ) $ 343,890 127 Municipal securities $ (146 ) $ 4,590 10 $ — $ — — $ (146 ) $ 4,590 10 Total held to maturity $ (146 ) $ 4,590 10 $ — $ — — $ (146 ) $ 4,590 10 Less than Twelve Months Twelve Months or More Total (dollars in thousands) Unrealized Losses Estimated Fair Value No. of Issuances Unrealized Losses Estimated Fair Value No. of Issuances Unrealized Losses Estimated Fair Value No. of Issuances December 31, 2021 Government agency securities $ (83 ) $ 4,860 1 $ — $ — — $ (83 ) $ 4,860 1 Mortgage-backed securities- Government sponsored agencies (536 ) 44,009 12 (4 ) 9,974 2 (540 ) 53,983 14 Collateralized mortgage obligations (1,916 ) 79,851 23 (78 ) 17,782 4 (1,994 ) 97,633 27 Commercial paper (36 ) 129,926 19 — — — (36 ) 129,926 19 Corporate debt securities (254 ) 13,208 12 — — — (254 ) 13,208 12 Municipal securities (160 ) 11,447 9 (27 ) 1,067 2 (187 ) 12,514 11 Total available for sale $ (2,985 ) $ 283,301 76 $ (109 ) $ 28,823 8 $ (3,094 ) $ 312,124 84 |
Note 5 - Loans and Allowance _2
Note 5 - Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | For the Three Months Ended June 30, 2022 2021 (dollars in thousands) Real Estate Commercial Other Unallocated Total Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning balance $ 29,022 $ 3,800 $ 470 $ — $ 33,292 $ 25,934 $ 4,781 $ 46 $ 34 $ 30,795 Provisions 1,471 (550 ) (6 ) — 915 567 96 (30 ) (5 ) 628 Charge-offs — — (55 ) — (55 ) (67 ) (90 ) — — (157 ) Recoveries — — 2 — 2 — — 86 — 86 $ 30,493 $ 3,250 $ 411 $ — $ 34,154 $ 26,434 $ 4,787 $ 102 $ 29 $ 31,352 For the Six Months Ended June 30, 2022 2021 (dollars in thousands) Real Estate Commercial Other Unallocated Total Real Estate Commercial Other Unallocated Total Allowance for loan losses: Beginning balance $ 28,592 $ 3,793 $ 527 $ — $ 32,912 $ 24,677 $ 4,617 $ 43 $ — $ 29,337 Provisions 1,901 (603 ) (17 ) — 1,281 1,824 260 15 29 2,128 Charge-offs — — (102 ) — (102 ) (67 ) (90 ) (42 ) — (199 ) Recoveries — 60 3 — 63 — — 86 — 86 $ 30,493 $ 3,250 $ 411 $ — $ 34,154 $ 26,434 $ 4,787 $ 102 $ 29 $ 31,352 For the Year Ended December 31, 2021 (dollars in thousands) Real Estate Commercial Other Total Allowance for loan losses: Beginning balance $ 24,677 $ 4,617 $ 43 $ 29,337 Provisions 3,982 (480 ) 457 3,959 Charge-offs (67 ) (501 ) (59 ) (627 ) Recoveries — 157 86 243 $ 28,592 $ 3,793 $ 527 $ 32,912 (dollars in thousands) June 30, 2022 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ 2 $ — $ — $ 2 General 30,493 3,248 411 — 34,152 Total allowance for loan losses $ 30,493 $ 3,250 $ 411 $ — $ 34,154 Loans evaluated for impairment: Individually $ 7,534 $ 6,403 $ — $ — $ 13,937 Collectively 2,715,320 290,945 25,744 — 3,032,009 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 2,722,854 $ 297,348 $ 25,744 $ — $ 3,045,946 June 30, 2021 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ 440 $ — $ — $ 440 General 26,434 4,347 102 29 30,912 Total allowance for loan losses $ 26,434 $ 4,787 $ 102 $ 29 $ 31,352 Loans evaluated for impairment: Individually $ 12,032 $ 7,211 $ — $ — $ 19,243 Collectively 2,311,711 368,441 9,811 — 2,689,963 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 2,323,743 $ 375,652 $ 9,811 $ — $ 2,709,206 December 31, 2021 Real Estate Commercial Other Unallocated Total Reserves: Specific $ — $ 30 $ — $ — $ 30 General 28,592 3,763 527 — 32,882 Total allowance for loan losses $ 28,592 $ 3,793 $ 527 $ — $ 32,912 Loans evaluated for impairment: Individually $ 10,340 $ 10,385 $ — $ — $ 20,725 Collectively 2,545,379 334,460 30,786 — 2,910,625 Total loans, net of deferred loan fees and unaccreted discount on acquired loans $ 2,555,719 $ 344,845 $ 30,786 $ — $ 2,931,350 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (dollars in thousands) Special June 30, 2022 Pass Mention Substandard Impaired Total Real estate: Construction and land development $ 356,631 $ — $ — $ 141 $ 356,772 Commercial real estate 1,118,952 — 39,438 1,960 1,160,350 Single-family residential mortgages 1,200,243 — 56 5,433 1,205,732 Commercial: Commercial and industrial 209,590 23,281 3,753 1,421 238,045 SBA 49,541 — 4,780 4,982 59,303 Other: 25,744 — — — 25,744 $ 2,960,701 $ 23,281 $ 48,027 $ 13,937 $ 3,045,946 (dollars in thousands) Special December 31, 2021 Pass Mention Substandard Impaired Total Real estate: Construction and land development $ 299,333 $ 3,662 $ — $ 149 $ 303,144 Commercial real estate 1,184,889 2,006 55,104 6,000 1,247,999 Single-family residential mortgages 1,000,385 — — 4,191 1,004,576 Commercial: Commercial and industrial 255,439 — 9,148 4,122 268,709 SBA 62,300 1,303 6,270 6,263 76,136 Other: 30,786 — — — 30,786 $ 2,833,132 $ 6,971 $ 70,522 $ 20,725 $ 2,931,350 |
Financing Receivable, Past Due [Table Text Block] | (dollars in thousands) 30 59 60 89 90 Days Total Loans Not Non-Accrual June 30, 2022 Days Days Or More Past Due Past Due Total Loans Loans (1) Real estate: Construction and land development $ — $ — $ 141 $ 141 $ 356,631 $ 356,772 $ 141 Commercial real estate 243 — 667 910 1,159,440 1,160,350 667 Single-family residential mortgages 3,064 3,660 2,933 9,657 1,196,075 1,205,732 5,433 Commercial: Commercial and industrial 1,186 5 1,063 2,254 235,791 238,045 1,063 SBA — 1,720 3,686 5,406 53,897 59,303 4,982 Other: 88 13 — 101 25,643 25,744 — $ 4,581 $ 5,398 $ 8,490 $ 18,469 $ 3,027,477 $ 3,045,946 $ 12,286 Real estate: Single-family residential mortgages held for sale $ — $ — $ — $ — $ — $ — $ — (dollars in thousands) 30 59 60 89 90 Days Total Loans Not Non-Accrual December 31, 2021 Days Days Or More Past Due Past Due Total Loans Loans (1) Real estate: Construction and land development $ — $ — $ 149 $ 149 $ 302,995 $ 303,144 $ 149 Commercial real estate 1,914 3,002 667 5,583 1,242,416 1,247,999 4,672 Single-family residential mortgages 10,554 2,238 2,680 15,472 989,104 1,004,576 4,191 Commercial: Commercial and industrial 1,575 — 3,689 5,264 263,445 268,709 3,712 SBA — 1,733 4,839 6,572 69,564 76,136 6,263 Other: 57 7 — 64 30,722 30,786 — $ 14,100 $ 6,980 $ 12,024 $ 33,104 $ 2,898,246 $ 2,931,350 $ 18,987 Real estate: Single-family residential mortgages held for sale $ — $ — $ — $ — $ 5,957 $ 5,957 $ — |
Impaired Financing Receivables [Table Text Block] | Unpaid (dollars in thousands) Principal Recorded Related June 30, 2022 Balance Investment Allowance With no related allowance recorded Construction and land development $ 173 $ 141 $ — Commercial and industrial 1,445 1,421 — Commercial real estate 1,972 1,960 — Single-family residential mortgage loans 5,616 5,433 — Commercial - SBA 4,973 4,973 — With related allowance recorded Commercial-SBA 10 9 2 Total $ 14,189 $ 13,937 $ 2 Unpaid (dollars in thousands) Principal Recorded Related December 31, 2021 Balance Investment Allowance With no related allowance recorded Construction and land development $ 173 $ 149 $ — Commercial and industrial 4,096 4,096 — Commercial real estate 6,059 6,000 — Residential mortgage loans 4,365 4,191 — Commercial - SBA 6,274 6,245 — With related allowance recorded Commercial and industrial 27 26 27 Commercial-SBA 18 18 3 Total $ 21,012 $ 20,725 $ 30 Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 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 $ 173 $ — $ 173 $ — $ 173 $ 8 $ 173 $ — Commercial and industrial 1,452 6 470 7 1,464 13 480 15 Commercial real estate 1,979 33 1,953 33 1,988 64 1,967 67 Residential mortgage loans 5,636 — 10,403 — 5,649 — 10,407 — Commercial - SBA 5,173 — 7,146 — 5,173 — 7,228 — With related allowance recorded Commercial and industrial — — 437 — — — 437 — Other 13 — 28 — 15 — 30 1 Total $ 14,426 $ 39 $ 20,610 $ 40 $ 14,462 $ 85 $ 20,722 $ 83 |
Note 6 - Loan Servicing (Tables
Note 6 - Loan Servicing (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Mortgage And Small Business Administration Loans Serviced For Others [Table Text Block] | June 30, December 31, (dollars in thousands) 2022 2021 Loans serviced for others: Mortgage loans $ 1,196,133 $ 1,308,672 SBA loans 129,294 138,173 Commercial real estate loans 4,031 4,070 |
Servicing Asset at Amortized Cost [Table Text Block] | Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 Mortgage SBA Mortgage SBA (dollars in thousands) Loans Loans Loans Loans Servicing assets: Beginning of period $ 8,264 $ 2,784 $ 8,748 $ 2,769 Additions 148 21 448 184 Disposals (173 ) (221 ) (564 ) (272 ) Amortized to expense (273 ) (94 ) (666 ) (191 ) End of period $ 7,966 $ 2,490 $ 7,966 $ 2,490 Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 Mortgage SBA Mortgage SBA (dollars in thousands) Loans Loans Loans Loans Servicing assets: Beginning of period $ 9,956 $ 3,308 $ 10,529 $ 3,436 Additions 581 131 1,209 207 Disposals (719 ) (78 ) (1,341 ) (161 ) Amortized to expense (500 ) (121 ) (1,079 ) (242 ) End of period $ 9,318 $ 3,240 $ 9,318 $ 3,240 |
Note 7 - Goodwill and Intangi_2
Note 7 - Goodwill and Intangibles (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (dollars in thousands) As of June 30: Remainder of 2022 $ 530 2023 923 2024 784 2025 672 2026 501 Thereafter 838 Total $ 4,248 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Time Deposit Maturities [Table Text Block] | (dollars in thousands) June 30, 2022 One year $ 1,074,566 Two to three years 37,783 Over three years 1,900 Total $ 1,114,249 |
Note 9 - Long-term Debt (Tables
Note 9 - Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | June 30, December 31, (dollars in thousands) 2022 2021 Principal $ 175,000 $ 175,000 Unamortized debt issuance costs $ 1,704 $ 1,993 |
Schedule of Interest and Amortizations Expense [Table Text Block] | For the Three Months Ended June 30, For the Six Months Ended June 30, (dollars in thousands) 2022 2021 2022 2021 Interest Expense: Interest $ 2,050 $ 2,050 $ 4,100 $ 3,779 Amortization 145 157 289 236 |
Note 13 - Commitments (Tables)
Note 13 - Commitments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Fair Value, off-Balance-Sheet Risks [Table Text Block] | June 30, December 31, (dollars in thousands) 2022 2021 Commitments to make loans $ 160,680 $ 202,288 Unused lines of credit 260,851 251,931 Commercial and similar letters of credit 3,080 1,214 Standby letters of credit 3,230 4,728 Total $ 427,841 $ 460,161 |
Note 14 - Leases (Tables)
Note 14 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (dollars in thousands) As of June 30, 2022: 2022 remaining $ 2,247 2023 4,805 2024 3,655 2025 3,485 2026 3,478 Thereafter 10,520 Total $ 28,190 Less amount of payment representing interest (1,367 ) Total present value of lease payments $ 26,823 |
Lease, Cost [Table Text Block] | June 30, December 31, (dollars in thousands) 2022 2021 Operating Leases ROU assets $ 25,931 $ 22,454 Lease liabilities 26,823 23,282 Weighted-average remaining lease term (in years) 7.32 6.84 Weighted-average discount rate 1.68 % 1.01 % |
Note 15 - Related Party Trans_2
Note 15 - Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | June 30, December 31, (dollars in thousands) 2022 2021 Beginning balance $ 8,441 $ 1,243 New loans and advances — 10,292 Repayments (1,572 ) $ (3,094 ) Ending balance $ 6,869 $ 8,441 |
Note 16 - Stock-based Compens_2
Note 16 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | May 2022 July 2021 January 2021 Expected volatility 29.5 % 31.6 % 30.8 % Expected term (years) 6.0 6.0 6.0 Expected dividends 2.52 % 1.98 % 1.86 % Risk free rate 2.71 % 0.48 % 0.26 % Grant date fair value $ 5.28 $ 5.69 $ 4.14 |
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 943,918 $ 14.66 Granted 10,000 21.46 Exercised (224,376 ) 12.72 Forfeited/cancelled (69,000 ) 16.48 Outstanding at end of period 660,542 $ 15.23 3.51 $ 3,649 Options exercisable 542,537 $ 14.49 2.40 $ 3,354 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Weighted-Average Grant Date (dollars in thousands, except for share amounts) Shares Fair Value Outstanding at beginning of year 60,000 $ 17.74 Granted — — Vested (20,000 ) 17.74 Forfeited/cancelled (40,000 ) 17.74 Outstanding at end of period — $ — Weighted-Average Grant Date (dollars in thousands, except for share amounts) Shares Fair Value Outstanding at beginning of year — $ — Granted 39,497 27.16 Vested (1,000 ) 27.16 Forfeited/cancelled (15,727 ) 27.16 Outstanding at end of period 22,770 $ 27.16 |
Note 17 - Regulatory Matters (T
Note 17 - Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Amount of Capital Required To Be Well-Capitalized Minimum Required for Under Prompt Corrective Actual Capital Adequacy Purposes Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of June 30, 2022: Tier 1 Leverage Ratio Consolidated $ 419,555 10.95 % $ 153,193 4.0 % N/A N/A Bank 532,221 13.90 % 153,170 4.0 % 191,463 5.0 % Common Equity Tier 1 Risk-Based Capital Ratio Consolidated $ 404,944 14.82 % $ 122,997 4.5 % N/A N/A Bank 532,221 19.51 % 122,737 4.5 % 177,287 6.5 % Tier 1 Risk-Based Capital Ratio Consolidated $ 419,555 15.35 % $ 163,996 6.0 % N/A N/A Bank 532,221 19.51 % 163,649 6.0 % 218,199 8.0 % Total Risk-Based Capital Ratio Consolidated $ 627,030 22.94 % $ 218,661 8.0 % N/A N/A Bank 566,328 20.76 % 218,199 8.0 % 272,749 10.0 % Amount of Capital Required To Be Well-Capitalized Minimum Required for Under Prompt Corrective Actual Capital Adequacy Purposes Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2021: Tier 1 Leverage Ratio Consolidated $ 410,134 10.21 % $ 160,642 4.0 % N/A N/A Bank 499,325 12.45 % 160,418 4.0 % 200,523 5.0 % Common Equity Tier 1 Risk Based Capital Ratio Consolidated $ 395,632 14.86 % $ 119,841 4.5 % N/A N/A Bank 499,325 18.80 % 119,550 4.5 % 172,684 6.5 % Tier 1 Risk-Based Capital Ratio Consolidated $ 410,134 15.40 % $ 159,788 6.0 % N/A N/A Bank 499,325 18.80 % 159,401 6.0 % 212,534 8.0 % Total Risk-Based Capital Ratio Consolidated $ 616,440 23.15 % $ 213,051 8.0 % N/A N/A Bank 532,544 20.05 % 212,534 8.0 % 265,668 10.0 % |
Note 18 - Fair Value Measurem_2
Note 18 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | (dollars in thousands) Fair Value Measurements Using: June 30, 2022 Level 1 Level 2 Level 3 Total Assets measured at fair value: On a recurring basis: Securities available for sale Government agency securities $ — $ 4,991 $ — $ 4,991 SBA agency securities — 2,750 — 2,750 Mortgage-backed securities — 47,390 — 47,390 Collateralized mortgage obligations — 127,213 — 127,213 Commercial paper — 128,473 — 128,473 Corporate debt securities — 38,244 — 38,244 Municipal securities — 9,074 — 9,074 Interest Rate Lock Contracts — — 71 71 $ — $ 358,135 $ 71 $ 358,206 On a non-recurring basis: Other real estate owned $ — $ — $ 293 $ 293 December 31, 2021 Level 1 Level 2 Level 3 Total Assets measured at fair value: On a recurring basis: Securities available for sale Government agency securities $ — $ 5,610 $ — $ 5,610 SBA agency securities — 3,469 — 3,469 Mortgage-backed securities — 55,025 — 55,025 Collateralized mortgage obligations — 119,511 — 119,511 Commercial paper — 129,926 — 129,926 Corporate debt securities — 42,205 — 42,205 Municipal securities — 12,514 — 12,514 Interest Rate Lock Contracts — — 141 141 Forward Mortgage Loan Sale Contracts — — 124 124 $ — $ 368,260 $ 265 $ 368,525 On a non-recurring basis: Other real estate owned $ — $ — $ 293 $ 293 |
Note 19 - Fair Value of Finan_2
Note 19 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2022 December 31, 2021 Fair Value Carrying Fair Carrying Fair (dollars in thousands) Hierarchy Value Value Value Value Financial Assets: Cash and due from banks Level 1 $ 224,736 $ 224,736 $ 501,372 $ 501,372 Federal funds sold and other cash equivalents Level 1 100,000 100,000 193,000 193,000 Interest-earning deposits in other financial institutions Level 1 600 600 600 600 Investment securities - AFS Level 2 358,135 358,135 368,260 368,260 Investment securities - HTM Level 2 5,741 5,615 6,252 6,577 Mortgage loans held for sale Level 1 — — 5,957 6,055 Loans, net Level 3 3,011,792 3,019,603 2,898,438 2,908,742 Equity securities Level 3 19,964 19,964 19,992 19,992 Servicing assets: Level 2 10,456 21,931 11,517 19,442 Notional Fair Notional Fair Derivative assets: Value Value Value Value Interest Rate Lock Contracts Level 3 $ 3,172 $ 71 $ 8,099 $ 141 Forward Mortgage Loan Sale Contracts Level 3 — — 14,296 124 Carrying Fair Carrying Fair Financial Liabilities: Value Value Value Value Deposits Level 2 $ 3,027,565 $ 2,992,349 $ 3,385,532 $ 3,388,008 FHLB advances Level 3 250,000 237,408 150,000 143,237 Long-term debt Level 3 173,296 153,486 173,007 175,773 Subordinated debentures Level 3 14,611 13,292 14,502 13,991 |
Note 20 - Earnings Per Share (T
Note 20 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended June 30, 2022 2021 (dollars in thousands except per share amounts) Income Shares Income Shares Net income as reported $ 15,477 $ 13,380 Less: Earnings allocated to participating securities $ (3 ) $ (51 ) Shares outstanding 18,881,829 19,349,802 Impact of weighting shares 184,792 11,111 Used in basic EPS 15,474 19,066,621 13,329 19,360,913 Dilutive effect of outstanding Stock options 233,276 514,056 Restricted Stock Unit 24,356 — Used in dilutive EPS $ 15,474 19,324,253 $ 13,329 19,874,969 Basic earnings per common share $ 0.81 $ 0.69 Diluted earnings per common share $ 0.80 $ 0.67 For the Six Months Ended June 30, 2022 2021 (dollars in thousands except per share amounts) Income Shares Income Shares Net income as reported $ 30,094 $ 25,836 Less: Earnings allocated to participating securities (34 ) (91 ) Shares outstanding 18,881,829 19,349,802 Impact of weighting shares 339,326 104,087 Used in basic EPS 30,060 19,221,155 25,745 19,453,889 Dilutive effect of outstanding Stock options 311,852 390,188 Restricted Stock Units 27,468 — Used in dilutive EPS $ 30,060 19,560,476 $ 25,745 19,844,077 Basic earnings per common share $ 1.56 $ 1.32 Diluted earnings per common share $ 1.54 $ 1.30 |
Note 21 - Revenue From Contra_2
Note 21 - Revenue From Contracts With Customers (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | For the Three Months Ended June 30, For the Six Months Ended June 30, (dollars in thousands) 2022 2021 2022 2021 Non-interest income, in scope (1) Fees and service charges on deposit accounts $ 554 $ 618 $ 1,074 $ 1,305 Other fees (2) 184 148 317 283 Other income (3) 564 525 1,074 1,155 Gain on sale of OREO and fixed assets 757 — 757 — Total in-scope non-interest income 2,059 1,291 3,222 2,743 Non-interest income, not in scope (4) 1,363 2,880 3,142 7,322 Total non-interest income $ 3,422 $ 4,171 $ 6,364 $ 10,065 |
Note 1 - Business Description (
Note 1 - Business Description (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||||||
Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Assets, Total | $ 3,969,037 | $ 4,228,194 | |||||
Loans Held for Investment and Held for Sale, Gross | 3,000,000 | ||||||
Deposits, Total | 3,027,565 | 3,385,532 | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance | 463,707 | $ 464,825 | $ 466,683 | $ 442,325 | $ 435,668 | $ 428,488 | |
Gateway Bank [Member] | |||||||
Deposits, Total | 145,900 | ||||||
Tangible Equity | $ 13,500 | ||||||
Gateway Bank [Member] | Forecast [Member] | |||||||
Payments to Acquire Businesses, Gross | $ 22,900 |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | Jan. 01, 2021 |
Operating Lease, Right-of-Use Asset | $ 25,931 | $ 22,454 | |
Loans Held for Investment and Held for Sale, Gross | $ 3,000,000 | ||
Loans Held for Investment and Held for Sale, Gross, Percentage with a LIBOR-based Reference Rate | 6.20% | ||
Operating Lease, Liability, Total | $ 26,823 | $ 23,282 | |
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | $ 26,800 | ||
Operating Lease, Liability, Total | $ 26,800 |
Note 3 - Acquisitions (Details
Note 3 - Acquisitions (Details Textual) - USD ($) | 6 Months Ended | ||||
Jan. 14, 2022 | Jan. 04, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | $ 8,495,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 312,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Assets | 52,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total | 81,790,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 81,700,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Liabilities | 88,000 | ||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | (71,040,000) | $ (71,352,000) | $ 0 | ||
Goodwill, Ending Balance | $ 71,498,000 | $ 69,243,000 | |||
Acquisition of the Honolulu, Hawaii Branch Office of the Bank of the Orient [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | 8,500,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 312,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Selected Performing Loans | 7,400,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Assets | 64,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total | 81,800,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 81,700,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Certificate of Deposit Premium | 27,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Liabilities | 90,000 | ||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ (71,000,000) | ||||
Goodwill, Ending Balance | 2,300,000 | ||||
Acquisition of the Honolulu, Hawaii Branch Office of the Bank of the Orient [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||
Business Combination, Acquired Receivable, Fair Value | 0 | ||||
Acquisition of the Honolulu, Hawaii Branch Office of the Bank of the Orient [Member] | Core Deposits [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 729,000 |
Note 3 - Acquisitions - Assets
Note 3 - Acquisitions - Assets Acquired and Liabilities Assumed, and Fair Value Adjustments (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jan. 14, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | |
Cash and cash equivalents | $ 312 | ||
Loans, gross | 7,390 | ||
Bank premises and equipment | (12) | ||
Core deposit premium | 729 | ||
Other assets | 52 | ||
Total assets acquired | 8,495 | ||
Deposits | 81,700 | ||
Escrow Payable | 2 | ||
Other liabilities | 88 | ||
Total liabilities assumed | 81,790 | ||
Excess of assets acquired over liabilities assumed | (73,295) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total | 2,255 | ||
Cash received | (71,040) | $ (71,352) | $ 0 |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 312 | ||
Loans, gross | 7,352 | ||
Bank premises and equipment | (12) | ||
Core deposit premium | 0 | ||
Other assets | 412 | ||
Total assets acquired | 8,088 | ||
Deposits | 81,673 | ||
Escrow Payable | 2 | ||
Other liabilities | 460 | ||
Total liabilities assumed | 82,135 | ||
Excess of assets acquired over liabilities assumed | (74,047) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total | 8,088 | ||
Changes Measurement [Member] | |||
Cash and cash equivalents | 0 | ||
Loans, gross | 38 | ||
Bank premises and equipment | 0 | ||
Core deposit premium | 729 | ||
Other assets | (360) | ||
Total assets acquired | 407 | ||
Deposits | 27 | ||
Escrow Payable | 0 | ||
Other liabilities | (372) | ||
Total liabilities assumed | (345) | ||
Excess of assets acquired over liabilities assumed | 752 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total | $ 407 |
Note 4 - Investment Securitie_2
Note 4 - Investment Securities (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Proceeds from Sale of Debt Securities, Available-for-Sale | $ 0 | $ 0 | $ 0 | $ 0 | |
Debt Securities, Available-for-Sale, Realized Gain (Loss), Total | 0 | $ (35,000) | 0 | $ (55,000) | |
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount | 20,000,000 | ||||
Asset Pledged as Collateral [Member] | Deposits [Member] | |||||
Financial Instruments, Owned, at Fair Value, Total | $ 90,000 | $ 90,000 | $ 117,000 |
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 | Jun. 30, 2022 | Dec. 31, 2021 |
Available for sale, amortized cost | $ 380,855 | $ 370,613 |
Available for sale, gross unrealized gains | 15 | 741 |
Available for sale, gross unrealized losses | (22,735) | (3,094) |
Available for sale | 358,135 | 368,260 |
Held to maturity (fair value of $5,615 and $6,577 at June 30, 2022 and December 31, 2021, respectively) | 5,741 | 6,252 |
Held to maturity, gross unrealized gains | 20 | 325 |
Held to maturity, gross unrealized losses | 146 | 0 |
Securities held to maturity, fair value | 5,615 | 6,577 |
Held to maturity, gross unrealized losses | (146) | 0 |
US Government Agencies Debt Securities [Member] | ||
Available for sale, amortized cost | 5,364 | 5,689 |
Available for sale, gross unrealized gains | 0 | 4 |
Available for sale, gross unrealized losses | (373) | (83) |
Available for sale | 4,991 | 5,610 |
Small Business Administration Agency Securities [Member] | ||
Available for sale, amortized cost | 2,877 | 3,351 |
Available for sale, gross unrealized gains | 0 | 118 |
Available for sale, gross unrealized losses | (127) | 0 |
Available for sale | 2,750 | 3,469 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale, amortized cost | 52,299 | 55,534 |
Available for sale, gross unrealized gains | 0 | 31 |
Available for sale, gross unrealized losses | (4,909) | (540) |
Available for sale | 47,390 | 55,025 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale, amortized cost | 137,776 | 121,377 |
Available for sale, gross unrealized gains | 9 | 128 |
Available for sale, gross unrealized losses | (10,572) | (1,994) |
Available for sale | 127,213 | 119,511 |
Commercial Paper [Member] | ||
Available for sale, amortized cost | 128,655 | 129,962 |
Available for sale, gross unrealized gains | 0 | 0 |
Available for sale, gross unrealized losses | (182) | (36) |
Available for sale | 128,473 | 129,926 |
Corporate Debt Securities [Member] | ||
Available for sale, amortized cost | 41,198 | 41,999 |
Available for sale, gross unrealized gains | 6 | 460 |
Available for sale, gross unrealized losses | (2,960) | (254) |
Available for sale | 38,244 | 42,205 |
Municipal Bonds [Member] | ||
Available for sale, amortized cost | 12,686 | 12,701 |
Available for sale, gross unrealized gains | 0 | 0 |
Available for sale, gross unrealized losses | (3,612) | (187) |
Available for sale | 9,074 | 12,514 |
Held to maturity (fair value of $5,615 and $6,577 at June 30, 2022 and December 31, 2021, respectively) | 4,736 | 4,746 |
Held to maturity, gross unrealized gains | 0 | 248 |
Held to maturity, gross unrealized losses | 146 | 0 |
Securities held to maturity, fair value | 4,590 | 4,994 |
Held to maturity, gross unrealized losses | (146) | 0 |
Taxable Municipal Bonds [Member] | ||
Held to maturity (fair value of $5,615 and $6,577 at June 30, 2022 and December 31, 2021, respectively) | 1,005 | 1,506 |
Held to maturity, gross unrealized gains | 20 | 77 |
Held to maturity, gross unrealized losses | 0 | 0 |
Securities held to maturity, fair value | 1,025 | 1,583 |
Held to maturity, gross unrealized losses | $ 0 | $ 0 |
Note 4 - Investment Securitie_4
Note 4 - Investment Securities - Expected Maturities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Less than one year, Available for sale, Amortized Cost | $ 131,689 | $ 143,079 |
Less than one year, Available for sale, Estimated Fair Value | 131,507 | 143,048 |
More than one year to five years, Available for sale, Amortized Cost | 73,052 | 128,904 |
Available for sale, Estimated Fair Value, More than one year to five years | 69,615 | 127,321 |
More than five years to ten years, Available for sale, Amortized Cost | 141,544 | 83,245 |
More than five years to ten years, Available for sale, Estimated Fair Value | 129,859 | 82,743 |
More than ten years, Available for sale, Amortized Cost | 34,570 | 15,385 |
More than ten years, Available for sale, Estimated Fair Value | 27,154 | 15,148 |
Available for sale, amortized cost | 380,855 | 370,613 |
Available for sale | 358,135 | 368,260 |
Less than one year, Held to Maturity, Amortized Cost | 0 | 500 |
Held to maturity, Estimated Fair Value | 0 | 502 |
More than one year to five years, Held to maturity, Amortized Cost | 1,005 | 1,006 |
More than one year to five years, Held to Maturity, Estimated Fair Value | 1,025 | 1,081 |
More than five years to ten years, Held to maturity Amortized Cost | 1,742 | 1,743 |
More than five years to ten years, Held to Maturity, Estimated Fair Value | 1,709 | 1,818 |
More than ten years, Held to Maturity, Amortized Cost | 2,994 | 3,003 |
More than ten years, Held to Maturity, Estimated Fair Value | 2,881 | 3,176 |
Held to maturity (fair value of $5,615 and $6,577 at June 30, 2022 and December 31, 2021, respectively) | 5,741 | 6,252 |
Securities held to maturity, fair value | 5,615 | 6,577 |
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 | 5,364 | 5,689 |
Available for sale, Estimated Fair Value, More than one year to five years | 4,991 | 5,610 |
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 | 5,364 | 5,689 |
Available for sale | 4,991 | 5,610 |
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 | 1,275 | 1,551 |
Available for sale, Estimated Fair Value, More than one year to five years | 1,212 | 1,582 |
More than five years to ten years, Available for sale, Amortized Cost | 1,602 | 1,800 |
More than five years to ten years, Available for sale, Estimated Fair Value | 1,538 | 1,887 |
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 | 2,877 | 3,351 |
Available for sale | 2,750 | 3,469 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than one year, Available for sale, Amortized Cost | 0 | 5,001 |
Less than one year, Available for sale, Estimated Fair Value | 0 | 4,998 |
More than one year to five years, Available for sale, Amortized Cost | 19,249 | 35,254 |
Available for sale, Estimated Fair Value, More than one year to five years | 18,221 | 35,000 |
More than five years to ten years, Available for sale, Amortized Cost | 17,992 | 15,279 |
More than five years to ten years, Available for sale, Estimated Fair Value | 16,362 | 15,027 |
More than ten years, Available for sale, Amortized Cost | 15,058 | 0 |
More than ten years, Available for sale, Estimated Fair Value | 12,807 | 0 |
Available for sale, amortized cost | 52,299 | 55,534 |
Available for sale | 47,390 | 55,025 |
Collateralized Mortgage Obligations [Member] | ||
Less than one year, Available for sale, Amortized Cost | 3,034 | 117 |
Less than one year, Available for sale, Estimated Fair Value | 3,034 | 117 |
More than one year to five years, Available for sale, Amortized Cost | 37,290 | 78,021 |
Available for sale, Estimated Fair Value, More than one year to five years | 35,566 | 76,496 |
More than five years to ten years, Available for sale, Amortized Cost | 93,299 | 43,239 |
More than five years to ten years, Available for sale, Estimated Fair Value | 85,289 | 42,898 |
More than ten years, Available for sale, Amortized Cost | 4,153 | 0 |
More than ten years, Available for sale, Estimated Fair Value | 3,324 | 0 |
Available for sale, amortized cost | 137,776 | 121,377 |
Available for sale | 127,213 | 119,511 |
Commercial Paper [Member] | ||
Less than one year, Available for sale, Amortized Cost | 128,655 | 129,962 |
Less than one year, Available for sale, Estimated Fair Value | 128,473 | 129,926 |
More than one year to five years, Available for sale, Amortized Cost | 0 | 0 |
Available for sale, Estimated Fair Value, More than one year to five years | 0 | 0 |
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 | 128,655 | 129,962 |
Available for sale | 128,473 | 129,926 |
Corporate Debt Securities [Member] | ||
Less than one year, Available for sale, Amortized Cost | 0 | 7,999 |
Less than one year, Available for sale, Estimated Fair Value | 0 | 8,007 |
More than one year to five years, Available for sale, Amortized Cost | 9,874 | 8,389 |
Available for sale, Estimated Fair Value, More than one year to five years | 9,625 | 8,633 |
More than five years to ten years, Available for sale, Amortized Cost | 28,651 | 22,927 |
More than five years to ten years, Available for sale, Estimated Fair Value | 26,670 | 22,931 |
More than ten years, Available for sale, Amortized Cost | 2,673 | 2,684 |
More than ten years, Available for sale, Estimated Fair Value | 1,949 | 2,634 |
Available for sale, amortized cost | 41,198 | 41,999 |
Available for sale | 38,244 | 42,205 |
Municipal Bonds [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 | 0 | 0 |
Available for sale, Estimated Fair Value, More than one year to five years | 0 | 0 |
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 | 12,686 | 12,701 |
More than ten years, Available for sale, Estimated Fair Value | 9,074 | 12,514 |
Available for sale, amortized cost | 12,686 | 12,701 |
Available for sale | 9,074 | 12,514 |
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 | 0 |
More than one year to five years, Held to Maturity, Estimated Fair Value | 0 | 0 |
More than five years to ten years, Held to maturity Amortized Cost | 1,742 | 1,743 |
More than five years to ten years, Held to Maturity, Estimated Fair Value | 1,709 | 1,818 |
More than ten years, Held to Maturity, Amortized Cost | 2,994 | 3,003 |
More than ten years, Held to Maturity, Estimated Fair Value | 2,881 | 3,176 |
Held to maturity (fair value of $5,615 and $6,577 at June 30, 2022 and December 31, 2021, respectively) | 4,736 | 4,746 |
Securities held to maturity, fair value | 4,590 | 4,994 |
Taxable Municipal Bonds [Member] | ||
Less than one year, Held to Maturity, Amortized Cost | 0 | 500 |
Held to maturity, Estimated Fair Value | 0 | 502 |
More than one year to five years, Held to maturity, Amortized Cost | 1,005 | 1,006 |
More than one year to five years, Held to Maturity, Estimated Fair Value | 1,025 | 1,081 |
More than five years to ten years, Held to maturity Amortized Cost | 0 | 0 |
More than five years to ten years, Held to Maturity, Estimated Fair Value | 0 | 0 |
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 $5,615 and $6,577 at June 30, 2022 and December 31, 2021, respectively) | 1,005 | 1,506 |
Securities held to maturity, fair value | $ 1,025 | $ 1,583 |
Note 4 - Investment Securitie_5
Note 4 - Investment Securities - Summary of Investment Securities With Unrealized Losses (Details) $ in Thousands | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Less than Twelve Months Unrealized Losses, available for sale | $ (15,339) | $ (2,985) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 291,676 | $ 283,301 |
Available for sale, Total No. of Issuances, less than twelve months | 104 | 76 |
Twelve Months or More Unrealized Losses | $ (7,396) | $ (109) |
Twelve Months or More Estimated Fair Value, available for sale | $ 52,214 | $ 28,823 |
Twelve Months or More No. of Issuances, available for sale | 23 | 8 |
Total Unrealized Losses, available for sale | $ (22,735) | $ (3,094) |
Total Estimated Fair Value, available for sale | $ 343,890 | $ 312,124 |
Available for sale, Total No. of Issuances | 127 | 84 |
Available for sale, Total No. of Issuances | 127 | 84 |
Less than Twelve Months Unrealized Losses, held to maturity | $ (146) | |
Less than Twelve Months Estimated Fair Value, held to maturity | $ 4,590 | |
Held to maturity, Total No. of Issuances, less than twelve months | 10 | |
Twelve Months or More Unrealized Losses, held to maturity | $ 0 | |
Twelve Months or More Estimated Fair Value, held to maturity | $ 0 | |
Twleve Monts or More No. of Issuances, held to maturity | 0 | |
Total Unrealized Losses, held to maturity | $ (146) | |
Total Estimated Fair Value, held to maturity | $ 4,590 | |
Held to maturity, Total No. of Issuances | 10 | |
Twelve Months or More Unrealized Losses | $ 7,396 | $ 109 |
US Government Agencies Debt Securities [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (373) | (83) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 4,991 | $ 4,860 |
Available for sale, Total No. of Issuances, less than twelve months | 3 | 1 |
Twelve Months or More Unrealized Losses | $ 0 | $ 0 |
Twelve Months or More Estimated Fair Value, available for sale | $ 0 | $ 0 |
Twelve Months or More No. of Issuances, available for sale | 0 | 0 |
Total Unrealized Losses, available for sale | $ (373) | $ (83) |
Total Estimated Fair Value, available for sale | $ 4,991 | $ 4,860 |
Available for sale, Total No. of Issuances | 3 | 1 |
Available for sale, Total No. of Issuances | 3 | 1 |
Twelve Months or More Unrealized Losses | $ 0 | $ 0 |
SBA Securities [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (127) | |
Less than Twelve Months Estimated Fair Value, available for sale | $ 2,750 | |
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 | $ (127) | |
Total Estimated Fair Value, available for sale | $ 2,750 | |
Available for sale, Total No. of Issuances | 4 | |
Available for sale, Total No. of Issuances | 4 | |
Twelve Months or More Unrealized Losses | $ 0 | |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (3,189) | (536) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 35,927 | $ 44,009 |
Available for sale, Total No. of Issuances, less than twelve months | 12 | 12 |
Twelve Months or More Unrealized Losses | $ (1,720) | $ (4) |
Twelve Months or More Estimated Fair Value, available for sale | $ 11,463 | $ 9,974 |
Twelve Months or More No. of Issuances, available for sale | 4 | 2 |
Total Unrealized Losses, available for sale | $ (4,909) | $ (540) |
Total Estimated Fair Value, available for sale | $ 47,390 | $ 53,983 |
Available for sale, Total No. of Issuances | 16 | 14 |
Available for sale, Total No. of Issuances | 16 | 14 |
Twelve Months or More Unrealized Losses | $ 1,720 | $ 4 |
Collateralized Mortgage Obligations [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (6,925) | (1,916) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 79,184 | $ 79,851 |
Available for sale, Total No. of Issuances, less than twelve months | 30 | 23 |
Twelve Months or More Unrealized Losses | $ (3,647) | $ (78) |
Twelve Months or More Estimated Fair Value, available for sale | $ 34,289 | $ 17,782 |
Twelve Months or More No. of Issuances, available for sale | 10 | 4 |
Total Unrealized Losses, available for sale | $ (10,572) | $ (1,994) |
Total Estimated Fair Value, available for sale | $ 113,473 | $ 97,633 |
Available for sale, Total No. of Issuances | 40 | 27 |
Available for sale, Total No. of Issuances | 40 | 27 |
Twelve Months or More Unrealized Losses | $ 3,647 | $ 78 |
Commercial Paper [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (182) | (36) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 128,473 | $ 129,926 |
Available for sale, Total No. of Issuances, less than twelve months | 19 | 19 |
Twelve Months or More Unrealized Losses | $ 0 | $ 0 |
Twelve Months or More Estimated Fair Value, available for sale | $ 0 | $ 0 |
Twelve Months or More No. of Issuances, available for sale | 0 | 0 |
Total Unrealized Losses, available for sale | $ (182) | $ (36) |
Total Estimated Fair Value, available for sale | $ 128,473 | $ 129,926 |
Available for sale, Total No. of Issuances | 19 | 19 |
Available for sale, Total No. of Issuances | 19 | 19 |
Twelve Months or More Unrealized Losses | $ 0 | $ 0 |
Corporate Debt Securities [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (2,373) | (254) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 35,067 | $ 13,208 |
Available for sale, Total No. of Issuances, less than twelve months | 32 | 12 |
Twelve Months or More Unrealized Losses | $ (587) | $ 0 |
Twelve Months or More Estimated Fair Value, available for sale | $ 2,672 | $ 0 |
Twelve Months or More No. of Issuances, available for sale | 2 | 0 |
Total Unrealized Losses, available for sale | $ (2,960) | $ (254) |
Total Estimated Fair Value, available for sale | $ 37,739 | $ 13,208 |
Available for sale, Total No. of Issuances | 34 | 12 |
Available for sale, Total No. of Issuances | 34 | 12 |
Twelve Months or More Unrealized Losses | $ 587 | $ 0 |
Municipal Bonds [Member] | ||
Less than Twelve Months Unrealized Losses, available for sale | (2,170) | (160) |
Less than Twelve Months Estimated Fair Value, available for sale | $ 5,284 | $ 11,447 |
Available for sale, Total No. of Issuances, less than twelve months | 4 | 9 |
Twelve Months or More Unrealized Losses | $ (1,442) | $ (27) |
Twelve Months or More Estimated Fair Value, available for sale | $ 3,790 | $ 1,067 |
Twelve Months or More No. of Issuances, available for sale | 7 | 2 |
Total Unrealized Losses, available for sale | $ (3,612) | $ (187) |
Total Estimated Fair Value, available for sale | $ 9,074 | $ 12,514 |
Available for sale, Total No. of Issuances | 11 | 11 |
Available for sale, Total No. of Issuances | 11 | 11 |
Less than Twelve Months Unrealized Losses, held to maturity | $ (146) | |
Less than Twelve Months Estimated Fair Value, held to maturity | $ 4,590 | |
Held to maturity, Total No. of Issuances, less than twelve months | 10 | |
Twelve Months or More Unrealized Losses, held to maturity | $ 0 | |
Twleve Monts or More No. of Issuances, held to maturity | 0 | |
Total Unrealized Losses, held to maturity | $ (146) | |
Total Estimated Fair Value, held to maturity | $ 4,590 | |
Held to maturity, Total No. of Issuances | 10 | |
Twelve Months or More Unrealized Losses | $ 1,442 | $ 27 |
Note 5 - Loans and Allowance _3
Note 5 - Loans and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Financing Receivable Number Of Loans 90 Days Past Due And Still Accruing | $ 0 | $ 0 | $ 0 | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 0 | $ 0 | |||
Number Of Loans Identified As Troubled Debt Restructurings | 7 | 7 | 9 | ||
Financing Receivable, Troubled Debt Restructuring | $ 3,100,000 | $ 3,100,000 | $ 3,400,000 | ||
Financing Receivable, Nonaccrual Troubled Debt Restructuring | 1,500,000 | 1,500,000 | 1,700,000 | ||
Allowance for Credit Losses Reserve, Change In Method of Calculating Impairment | 34,154,000 | $ 31,352,000 | 34,154,000 | $ 31,352,000 | 32,912,000 |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |||
Financing Receivable, Modifications, Number of Contracts | 0 | 2 | 2 | ||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 403,000 | $ 403,000 | |||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 403,000 | 403,000 | |||
Specific Reserve [Member] | |||||
Allowance for Credit Losses Reserve, Change In Method of Calculating Impairment | $ 2,000 | $ 440,000 | $ 2,000 | $ 440,000 | $ 30,000 |
Specific Reserve [Member] | One Loan [Member] | |||||
Allowance for Credit Losses Reserve, Change In Method of Calculating Impairment | $ 2,000 | $ 2,000 | $ 3,000 |
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 | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Beginning balance | $ 33,292 | $ 30,795 | $ 32,912 | $ 29,337 | $ 29,337 |
Provisions | 915 | 628 | 1,281 | 2,128 | 3,959 |
Charge-offs | (55) | (157) | (102) | (199) | (627) |
Recoveries | 2 | 86 | 63 | 86 | 243 |
Ending balance | 34,154 | 31,352 | 34,154 | 31,352 | 32,912 |
Loan losses, Reserves | 34,154 | 31,352 | 34,154 | 31,352 | 32,912 |
Individually | 13,937 | 19,243 | 13,937 | 19,243 | 20,725 |
Collectively | 3,032,009 | 2,689,963 | 3,032,009 | 2,689,963 | 2,910,625 |
Total loans, net of deferred loan fees and unaccreted discounts on acquired loans | 3,045,946 | 2,709,206 | 3,045,946 | 2,709,206 | 2,931,350 |
Specific Reserve [Member] | |||||
Loan losses, Reserves | 2 | 440 | 2 | 440 | 30 |
General Reserves [Member] | |||||
Loan losses, Reserves | 34,152 | 30,912 | 34,152 | 30,912 | 32,882 |
Commercial Real Estate Portfolio Segment [Member] | |||||
Beginning balance | 29,022 | 25,934 | 28,592 | 24,677 | 24,677 |
Provisions | 1,471 | 567 | 1,901 | 1,824 | 3,982 |
Charge-offs | 0 | (67) | 0 | (67) | (67) |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Ending balance | 30,493 | 26,434 | 30,493 | 26,434 | 28,592 |
Loan losses, Reserves | 30,493 | 26,434 | 30,493 | 26,434 | 28,592 |
Individually | 7,534 | 12,032 | 7,534 | 12,032 | 10,340 |
Collectively | 2,715,320 | 2,311,711 | 2,715,320 | 2,311,711 | 2,545,379 |
Total loans, net of deferred loan fees and unaccreted discounts on acquired loans | 2,722,854 | 2,323,743 | 2,722,854 | 2,323,743 | 2,555,719 |
Commercial Real Estate Portfolio Segment [Member] | Specific Reserve [Member] | |||||
Loan losses, Reserves | 0 | 0 | 0 | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | General Reserves [Member] | |||||
Loan losses, Reserves | 30,493 | 26,434 | 30,493 | 26,434 | 28,592 |
Commercial Portfolio Segment [Member] | |||||
Beginning balance | 3,800 | 4,781 | 3,793 | 4,617 | 4,617 |
Provisions | (550) | 96 | (603) | 260 | (480) |
Charge-offs | 0 | (90) | 0 | (90) | (501) |
Recoveries | 0 | 0 | 60 | 0 | 157 |
Ending balance | 3,250 | 4,787 | 3,250 | 4,787 | 3,793 |
Loan losses, Reserves | 3,250 | 4,787 | 3,250 | 4,787 | 3,793 |
Individually | 6,403 | 7,211 | 6,403 | 7,211 | 10,385 |
Collectively | 290,945 | 368,441 | 290,945 | 368,441 | 334,460 |
Total loans, net of deferred loan fees and unaccreted discounts on acquired loans | 297,348 | 375,652 | 297,348 | 375,652 | 344,845 |
Commercial Portfolio Segment [Member] | Specific Reserve [Member] | |||||
Loan losses, Reserves | 2 | 440 | 2 | 440 | 30 |
Commercial Portfolio Segment [Member] | General Reserves [Member] | |||||
Loan losses, Reserves | 3,248 | 4,347 | 3,248 | 4,347 | 3,763 |
Other Financing Receivables [Member] | |||||
Beginning balance | 470 | 46 | 527 | 43 | 43 |
Provisions | (6) | (30) | (17) | 15 | 457 |
Charge-offs | (55) | 0 | (102) | (42) | (59) |
Recoveries | 2 | 86 | 3 | 86 | 86 |
Ending balance | 411 | 102 | 411 | 102 | 527 |
Loan losses, Reserves | 411 | 102 | 411 | 102 | 527 |
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 25,744 | 9,811 | 25,744 | 9,811 | 30,786 |
Total loans, net of deferred loan fees and unaccreted discounts on acquired loans | 25,744 | 9,811 | 25,744 | 9,811 | 30,786 |
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 | 411 | 102 | 411 | 102 | 527 |
Unallocated Financing Receivables [Member] | |||||
Beginning balance | 0 | 34 | 0 | 0 | 0 |
Provisions | 0 | (5) | 0 | 29 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 0 | 29 | 0 | 29 | 0 |
Loan losses, Reserves | 0 | 29 | 0 | 29 | 0 |
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 0 | 0 | 0 | 0 | 0 |
Total loans, net of deferred loan fees and unaccreted discounts on acquired loans | 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 | $ 29 | $ 0 | $ 29 | $ 0 |
Note 5 - Loans and Allowance _5
Note 5 - Loans and Allowance for Loan Losses - Risk Category of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | |
Total Loans | $ 3,045,946 | $ 2,931,350 | |
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Total Loans | [1] | 356,772 | 303,144 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Total Loans | [1] | 1,160,350 | 1,247,999 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | [1] | 1,205,732 | 1,004,576 |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | |||
Total Loans | 238,045 | 268,709 | |
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | [1] | 59,303 | 76,136 |
Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | [1] | 25,744 | 30,786 |
Pass [Member] | |||
Total Loans | 2,960,701 | 2,833,132 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Total Loans | 356,631 | 299,333 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Total Loans | 1,118,952 | 1,184,889 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | 1,200,243 | 1,000,385 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | |||
Total Loans | 209,590 | 255,439 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | 49,541 | 62,300 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | 25,744 | 30,786 | |
Special Mention [Member] | |||
Total Loans | 23,281 | 6,971 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Total Loans | 0 | 3,662 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Total Loans | 0 | 2,006 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | 0 | 0 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | |||
Total Loans | 23,281 | 0 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | 0 | 1,303 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | 0 | 0 | |
Substandard [Member] | |||
Total Loans | 48,027 | 70,522 | |
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 | 39,438 | 55,104 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | 56 | 0 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | |||
Total Loans | 3,753 | 9,148 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | 4,780 | 6,270 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | 0 | 0 | |
Impaired [Member] | |||
Total Loans | 13,937 | 20,725 | |
Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | |||
Total Loans | 141 | 149 | |
Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Total Loans | 1,960 | 6,000 | |
Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | |||
Total Loans | 5,433 | 4,191 | |
Impaired [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | |||
Total Loans | 1,421 | 4,122 | |
Impaired [Member] | Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | |||
Total Loans | 4,982 | 6,263 | |
Impaired [Member] | Commercial Portfolio Segment [Member] | Other Loans [Member] | |||
Total Loans | $ 0 | $ 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 | Jun. 30, 2022 | Dec. 31, 2021 | ||
Financing Receivable | $ 33,104 | |||
Total Loans | $ 3,045,946 | 2,931,350 | ||
Non-accrual Loans | 12,286 | 18,987 | [1] | |
Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable | 4,581 | 14,100 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable | 5,398 | 6,980 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Financing Receivable | 8,490 | 12,024 | ||
Financial Asset, Past Due [Member] | ||||
Financing Receivable | 18,469 | |||
Financial Asset, Not Past Due [Member] | ||||
Financing Receivable | 3,027,477 | 2,898,246 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | ||||
Financing Receivable | 149 | |||
Total Loans | [2] | 356,772 | 303,144 | |
Non-accrual Loans | [1] | 141 | 149 | |
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable | 0 | 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] | ||||
Financing Receivable | 141 | 149 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, Past Due [Member] | ||||
Financing Receivable | 141 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction And Land Development Loans [Member] | Financial Asset, Not Past Due [Member] | ||||
Financing Receivable | 356,631 | 302,995 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable | 5,583 | |||
Total Loans | 1,160,350 | 1,247,999 | ||
Non-accrual Loans | [1] | 667 | 4,672 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable | 243 | 1,914 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable | 0 | 3,002 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Financing Receivable | 667 | 667 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, Past Due [Member] | ||||
Financing Receivable | 910 | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Financial Asset, Not Past Due [Member] | ||||
Financing Receivable | 1,159,440 | 1,242,416 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | ||||
Financing Receivable | 15,472 | |||
Total Loans | [2] | 1,205,732 | 1,004,576 | |
Non-accrual Loans | [1] | 5,433 | 4,191 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable | 3,064 | 10,554 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable | 3,660 | 2,238 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Financing Receivable | 2,933 | 2,680 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, Past Due [Member] | ||||
Financing Receivable | 9,657 | |||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans [Member] | Financial Asset, Not Past Due [Member] | ||||
Financing Receivable | 1,196,075 | 989,104 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member] | ||||
Financing Receivable | 0 | |||
Total Loans | 0 | 5,957 | ||
Non-accrual Loans | [1] | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Financing Receivable | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member] | Financial Asset, Past Due [Member] | ||||
Financing Receivable | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Mortgages Loans, Held for Sale [Member] | Financial Asset, Not Past Due [Member] | ||||
Financing Receivable | 0 | 5,957 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | ||||
Financing Receivable | 5,264 | |||
Total Loans | 238,045 | 268,709 | ||
Non-accrual Loans | [1] | 1,063 | 3,712 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable | 1,186 | 1,575 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable | 5 | 0 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Financing Receivable | 1,063 | 3,689 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, Past Due [Member] | ||||
Financing Receivable | 2,254 | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Financial Asset, Not Past Due [Member] | ||||
Financing Receivable | 235,791 | 263,445 | ||
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | ||||
Financing Receivable | 6,572 | |||
Total Loans | [2] | 59,303 | 76,136 | |
Non-accrual Loans | [1] | 4,982 | 6,263 | |
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable | 1,720 | 1,733 | ||
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Financing Receivable | 3,686 | 4,839 | ||
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, Past Due [Member] | ||||
Financing Receivable | 5,406 | |||
Commercial Portfolio Segment [Member] | Small Business Administration Agency Securities [Member] | Financial Asset, Not Past Due [Member] | ||||
Financing Receivable | 53,897 | 69,564 | ||
Commercial Portfolio Segment [Member] | Other Loans [Member] | ||||
Financing Receivable | 64 | |||
Total Loans | [2] | 25,744 | 30,786 | |
Non-accrual Loans | [1] | 0 | 0 | |
Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable | 88 | 57 | ||
Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Financing Receivable | 13 | 7 | ||
Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||
Financing Receivable | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, Past Due [Member] | ||||
Financing Receivable | 101 | |||
Commercial Portfolio Segment [Member] | Other Loans [Member] | Financial Asset, Not Past Due [Member] | ||||
Financing Receivable | $ 25,643 | $ 30,722 | ||
[1]Included in total loans[2]Loans, net of deferred fees |
Note 5 - Loans and Allowance _7
Note 5 - Loans and Allowance for Loan Losses - Individually Impaired Loan (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Related Allowance | $ 2 | $ 2 | $ 30 | ||
Principal Balance | 14,189 | 14,189 | 21,012 | ||
Recorded Investment | 13,937 | 13,937 | 20,725 | ||
Principal Balance | 14,189 | 14,189 | 21,012 | ||
Recorded Investment | 13,937 | 13,937 | 20,725 | ||
Average Balance | 14,426 | $ 20,610 | 14,462 | $ 20,722 | |
Interest income | 39 | 40 | 85 | 83 | |
Construction And Land Development Loans [Member] | |||||
Principal Balance, With no related allowance recorded | 173 | 173 | 173 | ||
Recorded Investment, With no related allowance recorded | 141 | 141 | 149 | ||
Average Balance, With no related allowance recorded | 173 | 173 | 173 | 173 | |
Interest Income, With no related allowance recorded | 0 | 0 | 8 | 0 | |
Commercial and Industrial Sector [Member] | |||||
Principal Balance, With no related allowance recorded | 1,445 | 1,445 | 4,096 | ||
Recorded Investment, With no related allowance recorded | 1,421 | 1,421 | 4,096 | ||
Principal Balance, With related allowance recorded | 27 | ||||
Recorded Investment, With related allowance recorded | 26 | ||||
Related Allowance | 27 | ||||
Average Balance, With no related allowance recorded | 1,452 | 470 | 1,464 | 480 | |
Interest Income, With no related allowance recorded | 6 | 7 | 13 | 15 | |
Average Balance, With related allowance recorded | 0 | 437 | 0 | 437 | |
Interest Income, With related allowance recorded | 0 | 0 | 0 | 0 | |
Commercial Real Estate [Member] | |||||
Principal Balance, With no related allowance recorded | 1,972 | 1,972 | 6,059 | ||
Recorded Investment, With no related allowance recorded | 1,960 | 1,960 | 6,000 | ||
Average Balance, With no related allowance recorded | 1,979 | 1,953 | 1,988 | 1,967 | |
Interest Income, With no related allowance recorded | 33 | 33 | 64 | 67 | |
Single Family Residential Mortgages Loans [Member] | |||||
Principal Balance, With no related allowance recorded | 5,616 | 5,616 | |||
Recorded Investment, With no related allowance recorded | 5,433 | 5,433 | |||
Principal Balance, With related allowance recorded | 18 | ||||
Recorded Investment, With related allowance recorded | 18 | ||||
Related Allowance | 3 | ||||
Residential Mortgage [Member] | |||||
Principal Balance, With no related allowance recorded | 4,365 | ||||
Recorded Investment, With no related allowance recorded | 4,191 | ||||
Average Balance, With no related allowance recorded | 5,636 | 10,403 | 5,649 | 10,407 | |
Interest Income, With no related allowance recorded | 0 | 0 | 0 | 0 | |
Small Business Administration Loans [Member] | Commercial Portfolio Segment [Member] | |||||
Principal Balance, With no related allowance recorded | 4,973 | 4,973 | 6,274 | ||
Recorded Investment, With no related allowance recorded | 4,973 | 4,973 | $ 6,245 | ||
Principal Balance, With related allowance recorded | 10 | 10 | |||
Recorded Investment, With related allowance recorded | 9 | 9 | |||
Related Allowance | 2 | 2 | |||
Average Balance, With no related allowance recorded | 5,173 | 7,146 | 5,173 | 7,228 | |
Interest Income, With no related allowance recorded | 0 | 0 | 0 | 0 | |
Other Financing Receivables [Member] | |||||
Average Balance, With related allowance recorded | 13 | 28 | 15 | 30 | |
Interest Income, With related allowance recorded | $ 0 | $ 0 | $ 0 | $ 1 |
Note 6 - Loan Servicing (Detail
Note 6 - Loan Servicing (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | |
Servicing Asset, Total | $ 10,456,000 | $ 10,456,000 | $ 11,517,000 | |||
Loan Servicing Fees Net of Amortization | 472,000 | $ 118,000 | 904,000 | $ 364,000 | ||
Mortgages [Member] | ||||||
Servicing Asset, Total | 18,200,000 | 18,200,000 | $ 15,400,000 | |||
Small Business Administration Loans [Member] | ||||||
Servicing Asset, Total | $ 3,700,000 | $ 3,700,000 | $ 4,100,000 |
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 | Jun. 30, 2022 | Dec. 31, 2021 |
Mortgages [Member] | ||
Loans serviced for others | $ 1,196,133 | $ 1,308,672 |
Small Business Administration Loans [Member] | ||
Loans serviced for others | 129,294 | 138,173 |
Commerical Real Estate Loans [Member] | ||
Loans serviced for others | $ 4,031 | $ 4,070 |
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 | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Mortgages [Member] | ||||
Beginning of period | $ 8,264 | $ 9,956 | $ 8,748 | $ 10,529 |
Additions | 148 | 581 | 448 | 1,209 |
Disposals | (173) | (719) | (564) | (1,341) |
Amortized to expense | (273) | (500) | (666) | (1,079) |
End of period | 7,966 | 9,318 | 7,966 | 9,318 |
Small Business Administration Loans [Member] | ||||
Beginning of period | 2,784 | 3,308 | 2,769 | 3,436 |
Additions | 21 | 131 | 184 | 207 |
Disposals | (221) | (78) | (272) | (161) |
Amortized to expense | (94) | (121) | (191) | (242) |
End of period | $ 2,490 | $ 3,240 | $ 2,490 | $ 3,240 |
Note 7 - Goodwill and Intangi_3
Note 7 - Goodwill and Intangibles (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
Jan. 31, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jan. 14, 2022 | Dec. 31, 2021 | |
Goodwill, Ending Balance | $ 71,498,000 | $ 71,498,000 | $ 69,243,000 | ||||
Amortization of Intangible Assets | 2,249,000 | $ 3,411,000 | |||||
Core Deposits [Member] | |||||||
Finite-Lived Intangible Assets, Gross, Total | 4,200,000 | 4,200,000 | $ 4,100,000 | ||||
Amortization of Intangible Assets | $ 277,000 | $ 287,000 | $ 556,000 | $ 588,000 | |||
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 | ||||||
Acquisition of the Honolulu, Hawaii Branch Office of the Bank of the Orient [Member] | |||||||
Goodwill, Ending Balance | $ 2,300,000 | ||||||
Acquisition of the Honolulu, Hawaii Branch Office of the Bank of the Orient [Member] | Core Deposits [Member] | |||||||
Finite-lived Intangible Assets Acquired | $ 729,000 |
Note 7 - Goodwill and Intangi_4
Note 7 - Goodwill and Intangible Assets - Maturity Schedule for Amortization Expense (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Total | $ 4,248 |
Core Deposits [Member] | |
Remainder of 2022, amortization expense | 530 |
2023, amortization expense | 923 |
2024, amortization expense | 784 |
2025, amortization expense | 672 |
2026, amortization expense | 501 |
Thereafter, amortization expense | $ 838 |
Note 8 - Deposits - Schedule of
Note 8 - Deposits - Schedule of Maturities of Time Deposits (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
One year | $ 1,074,566 |
Two to three years | 37,783 |
Over three years | 1,900 |
Total | $ 1,114,249 |
Note 9 - Long-term Debt (Detail
Note 9 - Long-term Debt (Details Textual) - USD ($) $ in Millions | 1 Months Ended | |||
Mar. 31, 2021 | Nov. 30, 2018 | Jun. 30, 2022 | Dec. 31, 2021 | |
Debt Instrument, Face Amount | $ 175 | $ 175 | ||
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% | |||
Four Percent Fixed To Floating Rate Subordinated Debentures Due April First Two Thousand Thirty One [Member] | ||||
Debt Instrument, Face Amount | $ 120 | |||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 4% | |||
Banking Regulation, Common Equity Tier One Risk-Based Capital, Actual | $ 25 | |||
Four Percent Fixed To Floating Rate Subordinated Debentures Due April First Two Thousand Thirty One [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.29% |
Note 9 - Long-term Debt - Sched
Note 9 - Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Principal | $ 175,000 | $ 175,000 |
Unamortized debt issuance costs | $ 1,704 | $ 1,993 |
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 | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest | $ 2,050 | $ 2,050 | $ 4,100 | $ 3,779 |
Amortization | $ 145 | $ 157 | $ 289 | $ 236 |
Note 10 - Subordinated Debent_2
Note 10 - Subordinated Debentures (Details Textual) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
Jan. 31, 2020 USD ($) shares | Oct. 31, 2018 USD ($) shares | Jun. 30, 2022 USD ($) $ / shares | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) $ / shares shares | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Debt Instrument, Face Amount | $ 175,000,000 | $ 175,000,000 | $ 175,000,000 | ||||
Interest Expense, Debt, Total | 2,050,000 | $ 2,050,000 | 4,100,000 | $ 3,779,000 | |||
Debt Amortization Expense | 55,000 | 55,000 | 109,000 | 109,000 | |||
Subordinated Debt [Member] | |||||||
Interest Expense, Debt, Total | 130,000 | $ 95,000 | 229,000 | $ 114,000 | |||
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% | ||||||
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 | 3.48% | 3.48% | 1.85% | ||||
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] | |||||||
Debt Instrument, Face Amount | 7,200,000 | ||||||
Common Stock Held in Trust | 217,000 | ||||||
First American International Statutory Trust I 1[Member] | Subordinated Debt [Member] | |||||||
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 | 4.08% | 4.08% | 2.45% | ||||
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 | 3.93% | 3.93% | 2.30% | ||||
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 | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Loans and Leases Receivable, Gross | $ 3,045,946,000 | $ 3,045,946,000 | $ 2,931,350,000 | ||
Long-Term Federal Home Loan Bank Advances, Total | $ 150,000,000 | $ 150,000,000 | |||
Federal Home Loan Bank, Advances, Activity for Year, Average Interest Rate at Period End | 1.37% | 1.37% | |||
Advances from Federal Home Loan Banks, Total | $ 250,000,000 | $ 250,000,000 | 150,000,000 | ||
Federal Home Loan Bank Advances [Member] | |||||
Debt Instrument, Term (Year) | 5 years | ||||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | 518,000 | $ 440,000 | $ 954,000 | $ 875,000 | |
Federal Reserve Bank of San Francisco Secured Line of Credit [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | 12,400,000 | 12,400,000 | |||
Federal Reserve Bank of San Francisco Secured Line of Credit [Member] | Asset Pledged as Collateral [Member] | |||||
Loans and Leases Receivable, Gross | 16,800,000 | 16,800,000 | |||
Federal Home Loan Bank Secured Line of Credit [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | 913,500,000 | 913,500,000 | |||
Federal Home Loan Bank Secured Line of Credit [Member] | Asset Pledged as Collateral [Member] | |||||
Loans and Leases Receivable, Gross | 1,200,000,000 | 1,200,000,000 | |||
Federal Home Loan Bank Overnight Advances [Member] | |||||
Long-Term Federal Home Loan Bank Advances, Total | 100,000,000 | 100,000,000 | |||
Advances from Federal Home Loan Banks, Total | 0 | 0 | $ 0 | ||
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 | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income Tax Expense (Benefit), Total | $ 6,508,000 | $ 5,540,000 | $ 12,899,000 | $ 11,171,000 |
Effective Income Tax Rate Reconciliation, Percent, Total | 29.60% | 29.30% | 30% | 30.20% |
Employee Service Share Based Compensation Tax Charge (Benefit) from Exercise Of Stock Options | $ 279,000 | $ 68,000 | $ 302,000 | $ 124,000 |
Note 13 - Commitments - Schedul
Note 13 - Commitments - Schedule of Financial Commitments Represents Credit Risk (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Financial commitments, contractual amount, fixed rate | $ 427,841 | |
Financial commitments, contractual amount, variable rate | $ 460,161 | |
Standby Letters of Credit [Member] | ||
Financial commitments, contractual amount, fixed rate | 3,230 | |
Financial commitments, contractual amount, variable rate | 4,728 | |
Commitments to Make Loans [Member] | ||
Financial commitments, contractual amount, fixed rate | 160,680 | |
Financial commitments, contractual amount, variable rate | 202,288 | |
Unused lines of Credit [Member] | ||
Financial commitments, contractual amount, fixed rate | 260,851 | |
Financial commitments, contractual amount, variable rate | 251,931 | |
Commercial And Similar Letters Of Credit [Member] | ||
Financial commitments, contractual amount, fixed rate | $ 3,080 | |
Financial commitments, contractual amount, variable rate | $ 1,214 |
Note 14 - Leases (Details Textu
Note 14 - Leases (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Operating Lease, Expense | $ 1,300,000 | $ 1,300,000 | $ 2,600,000 | $ 2,600,000 | |
Operating Lease, Lease Income, Total | 135,000 | $ 98,000 | 270,000 | $ 203,000 | |
Operating Lease, Right-of-Use Asset | 25,931,000 | 25,931,000 | $ 22,454,000 | ||
Operating Lease, Liability, Total | $ 26,823,000 | $ 26,823,000 | $ 23,282,000 | ||
New York Branch [Member] | |||||
Lessee, Operating Lease, Renewal Term (Year) | 10 years | 10 years | |||
Operating Lease, Right-of-Use Asset | $ 4,800,000 | $ 4,800,000 | |||
Operating Lease, Liability, Total | $ 4,800,000 | $ 4,800,000 |
Note 14 - Leases - Future Minim
Note 14 - Leases - Future Minimum Rent Payments (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
2022 remaining, future minimum lease payments | $ 2,247 | |
2023, future minimum lease payments | 4,805 | |
2024, future minimum lease payments | 3,655 | |
2025, future minimum lease payments | 3,485 | |
2026, future minimum lease payments | 3,478 | |
Thereafter, future minimum lease payments | 10,520 | |
Total | 28,190 | |
Less amount of payment representing interest | (1,367) | |
Total present value of lease payments | $ 26,823 | $ 23,282 |
Note 14 - Leases - Operating Le
Note 14 - Leases - Operating Lease (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
ROU assets | $ 25,931 | $ 22,454 |
Total present value of lease payments | $ 26,823 | $ 23,282 |
Weighted-average remaining lease term (in years) (Year) | 7 years 3 months 25 days | 6 years 10 months 2 days |
Weighted-average discount rate | 1.68% | 1.01% |
Note 15 - Related Party Trans_3
Note 15 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Principal Officers, Directors and their Affiliates [Member] | ||
Related Party Deposit Liabilities | $ 56,800 | $ 57,600 |
Directors and Their Affiliates [Member] | ||
Related Party Transaction, Due from (to) Related Party, Total | 8,100 | |
Executive Officers, Directors and their Related Interests [Member] | ||
Unfunded Loan Commitments, Available To Related Parties | $ 1,600 | $ 0 |
Note 15 - Related Party Trans_4
Note 15 - Related Party Transactions - Loans to Principal Officers, Directors, and Their Affiliates (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Beginning balance | $ 8,441 | $ 1,243 |
New loans and advances | 0 | 10,292 |
Repayments | (1,572) | (3,094) |
Ending balance | $ 6,869 | $ 8,441 |
Note 16 - Stock-based Compens_3
Note 16 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||
Jan. 19, 2022 | May 17, 2017 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Apr. 08, 2022 | Mar. 31, 2022 | Jan. 31, 2017 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 118,005 | 245,500 | 118,005 | 245,500 | 237,500 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Option, Nonvested, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 4.36 | $ 4.11 | $ 4.36 | $ 4.11 | $ 4.28 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares (in shares) | 51,495 | 35,500 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value | $ 1,100,000 | $ 860,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 198,613 | 43,976 | 224,376 | 76,265 | ||||||
Proceeds from Stock Options Exercised | $ 2,500,000 | $ 467,000 | $ 2,855,000 | $ 806,000 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | 1,700,000 | 438,000 | 1,900,000 | 748,000 | ||||||
Share-Based Payment Arrangement, Option [Member] | ||||||||||
Share-Based Payment Arrangement, Expense | 71,000 | 121,000 | 156,000 | 231,000 | ||||||
Share-Based Payment Arrangement, Expense, Tax Benefit | 279,000 | 68,000 | 302,000 | 124,000 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 403,000 | 959,000 | $ 403,000 | 959,000 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 3 months 18 days | |||||||||
Stock Options One [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 10,000 | 10,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Option, Nonvested, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 21.46 | $ 21.46 | ||||||||
Stock Options Two [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 51,495 | 51,495 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Option, Nonvested, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 18.39 | $ 18.39 | ||||||||
Stock Options Three [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 51,001 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares (in shares) | 78,000 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ 16.74 | |||||||||
Restricted Stock [Member] | ||||||||||
Share-Based Payment Arrangement, Expense | $ 6,000 | 195,000 | $ 95,000 | 371,000 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0 | 959,000 | $ 0 | 959,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 0 | 60,000 | ||||||||
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other Than Options, Granted at Closing Price (in dollars per share) | $ 17.74 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 0 | 0 | 60,000 | 40,000 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | 40,000 | |||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 39,497 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 22,770 | 22,770 | 0 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | 15,727 | |||||||||
Restricted Stock Units (RSUs) [Member] | Directors and Executive Officers [Member] | ||||||||||
Share-Based Payment Arrangement, Expense | $ 72,000 | 0 | $ 155,000 | 0 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 522,000 | $ 0 | $ 522,000 | $ 0 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 39,497 | |||||||||
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other Than Options, Granted at Closing Price (in dollars per share) | $ 27.16 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 22,770 | 22,770 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | 15,727 | |||||||||
Stock Option Plan 2010 [Member] | ||||||||||
Share Based Compensation, Arrangement By Share Based Payment Award, Common Stock Reserved As Percentage Of Issued And Outstanding | 30% | |||||||||
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 | |||||||||
The 2017 Omnibus Stock Incentive Plan [Member] | ||||||||||
Share Based Compensation, Arrangement By Share Based Payment Award, Common Stock Reserved As Percentage Of Issued And Outstanding | 30% | |||||||||
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) | 1,054,083 | 1,054,083 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Percentage of Outstanding Stock Maximum | 5.60% |
Note 16 - Stock-based Compens_4
Note 16 - Stock-based Compensation - Schedule of Weighted Average Assumption for Fair Value of Option Grant Estimated Using Black-Scholes Option Pricing Model (Details) - $ / shares | 1 Months Ended | ||
May 31, 2022 | Jul. 31, 2021 | Jan. 31, 2021 | |
Expected volatility | 29.50% | 31.60% | 30.80% |
Expected term (years) (Year) | 6 years | 6 years | 6 years |
Expected dividends | 2.52% | 1.98% | 1.86% |
Risk free rate | 2.71% | 0.48% | 0.26% |
Grant date fair value (in dollars per share) | $ 5.28 | $ 5.69 | $ 4.14 |
Note 16 - Stock-based Compens_5
Note 16 - Stock-based Compensation - Summary of Awards Pursuant to Stock Option Plans (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Beginning Balance, Shares (in shares) | 943,918 | |||
Outstanding at beginning of year (in dollars per share) | $ 14.66 | |||
Granted, Shares (in shares) | 10,000 | |||
Granted, Weighted Average Exercise Price (in dollars per share) | $ 21.46 | |||
Exercised, Shares (in shares) | (198,613) | (43,976) | (224,376) | (76,265) |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ 12.72 | |||
Forfeited/cancelled, Shares (in shares) | (69,000) | |||
Forfeited/cancelled, Weighted Average Exercise Price (in dollars per share) | $ 16.48 | |||
Balance, Shares (in shares) | 660,542 | 660,542 | ||
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 15.23 | $ 15.23 | ||
Outstanding at end of period, weighted average remaining contractual term (Year) | 3 years 6 months 3 days | |||
Outstanding at end of period, aggregate intrinsic value | $ 3,649 | $ 3,649 | ||
Options exercisable, Shares (in shares) | 542,537 | 542,537 | ||
Options exercisable, Weighted Average Exercise Price (in dollars per share) | $ 14.49 | $ 14.49 | ||
Options exercisable, Weighted Average Remaining Contractual Term (Year) | 2 years 4 months 24 days | |||
Options exercisable, Aggregate Intrinsic Value | $ 3,354 | $ 3,354 |
Note 16 - Stock-based Compens_6
Note 16 - Stock-based Compensation - Restricted Stock Activity (Details) - $ / shares | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Restricted Stock [Member] | |||
Outstanding at beginning of year (in shares) | 60,000 | ||
Outstanding at beginning of year, weighted-average grant date fair value (in dollars per share) | $ 17.74 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 0 | 60,000 | |
Granted, weighted-average grant date fair value (in dollars per share) | $ 0 | ||
Vested (in shares) | (20,000) | ||
Vested, weighted-average grant date fair value (in dollars per share) | $ 17.74 | ||
Forfeited/cancelled (in shares) | (40,000) | ||
Forfeited/cancelled (in dollars per share) | $ 17.74 | ||
Outstanding at end of period (in shares) | 0 | 0 | 60,000 |
Outstanding at end of period, weighted-average grant date fair value (in dollars per share) | $ 0 | $ 0 | $ 17.74 |
Restricted Stock Units (RSUs) [Member] | |||
Outstanding at beginning of year (in shares) | 0 | ||
Outstanding at beginning of year, weighted-average grant date fair value (in dollars per share) | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 39,497 | ||
Granted, weighted-average grant date fair value (in dollars per share) | $ 27.16 | ||
Vested (in shares) | (1,000) | ||
Vested, weighted-average grant date fair value (in dollars per share) | $ 27.16 | ||
Forfeited/cancelled (in shares) | (15,727) | ||
Forfeited/cancelled (in dollars per share) | $ 27.16 | ||
Outstanding at end of period (in shares) | 22,770 | 22,770 | |
Outstanding at end of period, weighted-average grant date fair value (in dollars per share) | $ 27.16 | $ 27.16 |
Note 17 - Regulatory Matters (D
Note 17 - Regulatory Matters (Details Textual) $ in Billions | Jun. 30, 2022 USD ($) | Jan. 01, 2019 | Jan. 01, 2016 | Jan. 01, 2015 | Dec. 31, 2014 |
Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.045 | ||||
Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Well Capitalized, Minimum | 0.065 | ||||
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.060 | 0.040 | |||
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Well Capitalized, Minimum | 0.080 | 0.060 | |||
Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum | 0.025 | 0.00625 | 0.025 | ||
Required Assets To Liabilities Ratio After Dividend Effect | 1.25 | ||||
Minimum [Member] | |||||
Regulatory Assets, Total | $ 3 |
Note 17 - Regulatory Matters -
Note 17 - 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 | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jan. 01, 2015 | Dec. 31, 2014 |
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.060 | 0.040 | ||
RBB Bancorp [Member] | ||||
Tier 1 Leverage Ratio, Amount | $ 419,555 | $ 410,134 | ||
Tier 1 Leverage Ratio, Ratio | 0.1095 | 0.1021 | ||
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 153,193 | $ 160,642 | ||
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 0.040 | 0.040 | ||
Common Equity Tier 1 Risk-Based Capital Ratio, Amount | $ 404,944 | $ 395,632 | ||
Common Equity Tier 1 Risk-Based Capital Ratio, Ratio | 0.1482 | 0.1486 | ||
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 122,997 | $ 119,841 | ||
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 4.50% | 4.50% | ||
Tier 1 Risk-Based Capital Ratio, Amount | $ 419,555 | $ 410,134 | ||
Tier 1 Risk-Based Capital Ratio, Ratio | 0.1535 | 0.1540 | ||
Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 163,996 | $ 159,788 | ||
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.060 | 0.060 | ||
Total Risk-Based Capital Ratio, Amount | $ 627,030 | $ 616,440 | ||
Total Risk-Based Capital Ratio, Ratio | 0.2294 | 0.2315 | ||
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 218,661 | $ 213,051 | ||
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 0.080 | 0.080 | ||
Royal Business Bank [Member] | ||||
Tier 1 Leverage Ratio, Amount | $ 532,221 | $ 499,325 | ||
Tier 1 Leverage Ratio, Ratio | 0.1390 | 0.1245 | ||
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 153,170 | $ 160,418 | ||
Tier 1 Leverage Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 0.040 | 0.040 | ||
Tier 1 Leverage Ratio, Minimum Required Plus Capital Conservation Buffer Fully Phased-In Amount | $ 191,463 | $ 200,523 | ||
Tier 1 Leverage Ratio, Minimum Required Plus Capital Conservation Buffer Fully Phased-In Ratio | 5% | 5% | ||
Common Equity Tier 1 Risk-Based Capital Ratio, Amount | $ 532,221 | $ 499,325 | ||
Common Equity Tier 1 Risk-Based Capital Ratio, Ratio | 0.1951 | 0.1880 | ||
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 122,737 | $ 119,550 | ||
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 | $ 177,287 | $ 172,684 | ||
Common Equity Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio | 0.065 | 0.065 | ||
Tier 1 Risk-Based Capital Ratio, Amount | $ 532,221 | $ 499,325 | ||
Tier 1 Risk-Based Capital Ratio, Ratio | 0.1951 | 0.1880 | ||
Tier 1 Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 163,649 | $ 159,401 | ||
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.060 | 0.060 | ||
Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount | $ 218,199 | $ 212,534 | ||
Tier 1 Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio | 8% | 8% | ||
Total Risk-Based Capital Ratio, Amount | $ 566,328 | $ 532,544 | ||
Total Risk-Based Capital Ratio, Ratio | 0.2076 | 0.2005 | ||
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 218,199 | $ 212,534 | ||
Total Risk-Based Capital Ratio, Minimum Required for Capital Adequacy Purposes Ratio | 0.080 | 0.080 | ||
Total Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Amount | $ 272,749 | $ 265,668 | ||
Total Risk-Based Capital Ratio, Minimum Required Plus Capital Conversation Buffer Fully Phased-In, Ratio | 10% | 10% |
Note 18 - Fair Value Measurem_3
Note 18 - Fair Value Measurements (Details Textual) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 USD ($) $ / item | Dec. 31, 2021 USD ($) | |
Write Down on Other Real Estate Owned | $ 0 | $ 0 |
Fair Value, Recurring [Member] | ||
Assets, Fair Value Disclosure, Total | 358,206,000 | 368,525,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure, Total | 71,000 | 265,000 |
Measurement Input, Margin Cost Rate [Member] | Fair Value, Recurring [Member] | Interest Rate Lock Contracts and Forward Mortgage Loan Sale Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative Asset, Total | 71,000 | 265,000 |
Unrealized Gain (Loss) on Derivatives | $ (194,000) | |
Minimum [Member] | Interest Rate Lock Contracts and Forward Mortgage Loan Sale Contracts [Member] | ||
Derivative, Buy Price (in USD per Per Share) | $ / item | 97 | |
Derivative, Sale Price (in USD per Per Share) | $ / item | 100 | |
Minimum [Member] | Measurement Input, Margin Cost Rate [Member] | Fair Value, Recurring [Member] | Interest Rate Lock Contracts and Forward Mortgage Loan Sale Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative Asset, Measurement Input | 1.50 | |
Maximum [Member] | Interest Rate Lock Contracts and Forward Mortgage Loan Sale Contracts [Member] | ||
Derivative, Buy Price (in USD per Per Share) | $ / item | 100 | |
Derivative, Sale Price (in USD per Per Share) | $ / item | 105 | |
Other Real Estate Owned [Member] | Minimum [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Alternative Investment, Measurement Input | 0.05 | |
Other Real Estate Owned [Member] | Maximum [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Alternative Investment, Measurement Input | 0.06 | |
Other Real Estate Owned [Member] | Single-Family Residences [Member] | ||
Assets, Fair Value Disclosure, Total | $ 293,000 |
Note 18 - Fair Value Measurem_4
Note 18 - 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 | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Recurring [Member] | ||
Assets measured at fair value | $ 358,206 | $ 368,525 |
Fair Value, Recurring [Member] | Interest Rate Lock Contracts [Member] | ||
Assets measured at fair value | 71 | 141 |
Fair Value, Recurring [Member] | Forward Mortgage Loan Sale Contracts [Member] | ||
Assets measured at fair value | 124 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Assets measured at fair value | 4,991 | 5,610 |
Fair Value, Recurring [Member] | Small Business Administration Agency Securities [Member] | ||
Assets measured at fair value | 2,750 | 3,469 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured at fair value | 47,390 | 55,025 |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Assets measured at fair value | 127,213 | 119,511 |
Fair Value, Recurring [Member] | Commercial Paper [Member] | ||
Assets measured at fair value | 128,473 | 129,926 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Assets measured at fair value | 38,244 | 42,205 |
Fair Value, Recurring [Member] | Municipal Securities [Member] | ||
Assets measured at fair value | 9,074 | 12,514 |
Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | 293 | 293 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Interest Rate Lock Contracts [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Forward Mortgage Loan Sale Contracts [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Small Business Administration Agency Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Commercial Paper [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Municipal Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | ||
Assets measured at fair value | 358,135 | 368,260 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Interest Rate Lock Contracts [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Forward Mortgage Loan Sale Contracts [Member] | ||
Assets measured at fair value | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Assets measured at fair value | 4,991 | 5,610 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Small Business Administration Agency Securities [Member] | ||
Assets measured at fair value | 2,750 | 3,469 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured at fair value | 47,390 | 55,025 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Assets measured at fair value | 127,213 | 119,511 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Commercial Paper [Member] | ||
Assets measured at fair value | 128,473 | 129,926 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Assets measured at fair value | 38,244 | 42,205 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Municipal Securities [Member] | ||
Assets measured at fair value | 9,074 | 12,514 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | ||
Assets measured at fair value | 71 | 265 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Interest Rate Lock Contracts [Member] | ||
Assets measured at fair value | 71 | 141 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Forward Mortgage Loan Sale Contracts [Member] | ||
Assets measured at fair value | 124 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Small Business Administration Agency Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Commercial Paper [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Municipal Securities [Member] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | $ 293 | $ 293 |
Note 19 - Fair Value of Finan_3
Note 19 - Fair Value of Financial Instruments - Schedule of Fair Value Hierarchy Level and Estimated Fair Value of Significant Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Investment securities - AFS | $ 358,135 | $ 368,260 |
Investment securities - HTM | 5,615 | 6,577 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and due from banks | 224,736 | 501,372 |
Federal funds sold and other cash equivalents | 100,000 | 193,000 |
Interest-earning deposits in other financial institutions | 600 | 600 |
Mortgage loans held for sale | 0 | 5,957 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 224,736 | 501,372 |
Federal funds sold and other cash equivalents | 100,000 | 193,000 |
Interest-earning deposits in other financial institutions | 600 | 600 |
Mortgage loans held for sale | 0 | 6,055 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Investment securities - AFS | 358,135 | 368,260 |
Investment securities - HTM | 5,741 | 6,252 |
Servicing assets: | 10,456 | 11,517 |
Deposits | 3,027,565 | 3,385,532 |
FHLB advances | 250,000 | 150,000 |
Long-term debt | 173,296 | 173,007 |
Subordinated debentures | 14,611 | 14,502 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Investment securities - AFS | 358,135 | 368,260 |
Investment securities - HTM | 5,615 | 6,577 |
Servicing assets: | 21,931 | 19,442 |
Deposits | 2,992,349 | 3,388,008 |
FHLB advances | 237,408 | 143,237 |
Long-term debt | 153,486 | 175,773 |
Subordinated debentures | 13,292 | 13,991 |
Fair Value, Inputs, Level 3 [Member] | Interest Rate Lock Contracts [Member] | ||
Derivative assets, notional amount | 3,172 | 8,099 |
Derivative assets | 71 | 141 |
Fair Value, Inputs, Level 3 [Member] | Forward Mortgage Loan Sale Contracts [Member] | ||
Derivative assets, notional amount | 0 | 14,296 |
Derivative assets | 0 | 124 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Loans, net | 3,011,792 | 2,898,438 |
Equity securities | 19,964 | 19,992 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Loans, net | 3,019,603 | 2,908,742 |
Equity securities | $ 19,964 | $ 19,992 |
Note 20 - Earnings Per Share (D
Note 20 - Earnings Per Share (Details Textual) - shares | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Share-Based Payment Arrangement, Option [Member] | Common Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 15,000 | 0 |
Note 20 - Earnings Per Share -
Note 20 - 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 | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income as reported | $ 15,477 | $ 13,380 | $ 30,094 | $ 25,836 |
Less: Earnings allocated to participating securities, income | $ (3) | $ (51) | $ (34) | $ (91) |
Shares outstanding, shares (in shares) | 18,881,829 | 19,349,802 | 18,881,829 | 19,349,802 |
Impact of weighting shares, shares (in shares) | 184,792 | 11,111 | 339,326 | 104,087 |
Used in basic EPS, income | $ 15,474 | $ 13,329 | $ 30,060 | $ 25,745 |
Used in basic EPS, shares (in shares) | 19,066,621 | 19,360,913 | 19,221,155 | 19,453,889 |
Stock options, shares (in shares) | 233,276 | 514,056 | 311,852 | |
Restricted Stock Unit, shares (in shares) | 24,356 | 0 | 27,468 | 0 |
Used in dilutive EPS, income | $ 15,474 | $ 13,329 | $ 30,060 | $ 25,745 |
Used in dilutive EPS, shares (in shares) | 19,324,253 | 19,874,969 | 19,560,476 | 19,844,077 |
Basic (in dollars per share) | $ 0.81 | $ 0.69 | $ 1.56 | $ 1.32 |
Diluted (in dollars per share) | $ 0.80 | $ 0.67 | $ 1.54 | $ 1.30 |
Note 21 - Revenue From Contra_3
Note 21 - 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 | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Total in-scope non-interest income | $ 2,059 | $ 1,291 | $ 3,222 | $ 2,743 | |
Non-interest income, not in scope | [1] | 1,363 | 2,880 | 3,142 | 7,322 |
Noninterest Income, Total | 3,422 | 4,171 | 6,364 | 10,065 | |
Fees And Service Charges On Deposit Accounts [Member] | |||||
Total in-scope non-interest income | [2] | 554 | 618 | 1,074 | 1,305 |
Other Fees [Member] | |||||
Total in-scope non-interest income | [2],[3] | 184 | 148 | 317 | 283 |
Other Service Income [Member] | |||||
Total in-scope non-interest income | [2],[4] | 564 | 525 | 1,074 | 1,155 |
Gain on Sale of OREO and Fixed Assets [Member] | |||||
Total in-scope non-interest income | $ 757 | $ 0 | $ 757 | $ 0 | |
[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 22 - Qualified Affordabl_2
Note 22 - Qualified Affordable Housing Project Investments (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 18 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | |
Amortization Method Qualified Affordable Housing Project Investments | $ 6,100,000 | $ 6,100,000 | $ 6,100,000 | $ 6,600,000 | ||
Qualified Affordable Housing Project Investments, Commitment | 823,000 | 823,000 | $ 823,000 | $ 826,000 | ||
Amortization Method Qualified Affordable Housing Project Investments, Amortization | $ 255,000 | $ 259,000 | $ 510,000 | $ 519,000 | ||
Minimum [Member] | ||||||
Affordable Housing Tax Credits Commitment, Year to be Paid | 2022 | |||||
Maximum [Member] | ||||||
Affordable Housing Tax Credits Commitment, Year to be Paid | 2029 |
Note 23 - Recent Developments (
Note 23 - Recent Developments (Details Textual) - Subsequent Event [Member] - $ / shares shares in Millions | Jul. 21, 2022 | Jul. 20, 2022 |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.14 | |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | 0.5 | |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased, Percentage of Outstanding Shares | 2.63% | |
Dividends Payable, Date Declared | Jul. 20, 2022 | |
Dividends Payable, Date to be Paid | Aug. 12, 2022 | |
Dividends Payable, Date of Record | Aug. 01, 2022 |