Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Oct. 27, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001624322 | |
Entity Registrant Name | Business First Bancshares, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-38447 | |
Entity Incorporation, State or Country Code | LA | |
Entity Tax Identification Number | 20-5340628 | |
Entity Address, Address Line One | 500 Laurel Street, Suite 101 | |
Entity Address, City or Town | Baton Rouge | |
Entity Address, State or Province | LA | |
Entity Address, Postal Zip Code | 70801 | |
City Area Code | 225 | |
Local Phone Number | 248-7600 | |
Title of 12(b) Security | Common Stock, par value $1.00 per share | |
Trading Symbol | BFST | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 25,344,168 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Cash and Due from Banks | $ 191,461 | $ 152,740 |
Federal Funds Sold | 196,616 | 15,606 |
Securities Available for Sale, at Fair Values (Amortized Cost of $968,498 at September 30, 2023 and $985,599 at December 31, 2022) | 849,704 | 890,751 |
Loans and Lease Receivable, Net of Allowance for Loan Losses of $41,129 at September 30, 2023 and $38,178 at December 31, 2022 | 4,879,144 | 4,567,998 |
Premises and Equipment, Net | 64,674 | 63,177 |
Accrued Interest Receivable | 28,060 | 25,666 |
Other Equity Securities | 32,591 | 37,467 |
Other Real Estate Owned | 1,558 | 1,372 |
Cash Value of Life Insurance | 95,906 | 91,958 |
Deferred Taxes | 34,660 | 31,194 |
Goodwill | 88,391 | 88,543 |
Core Deposit and Customer Intangible | 12,418 | 14,042 |
Other Assets | 12,946 | 9,642 |
Total Assets | 6,488,781 | 5,990,460 |
Deposits: | ||
Noninterest Bearing | 1,412,406 | 1,549,381 |
Interest Bearing | 3,778,317 | 3,270,964 |
Total Deposits | 5,190,723 | 4,820,345 |
Federal Funds Purchased | 0 | 14,057 |
Securities Sold Under Agreements to Repurchase | 23,245 | 20,208 |
Short Term Borrowings | 9 | 9 |
Bank Term Funding Program | 300,000 | 0 |
Federal Home Loan Bank Borrowings | 214,184 | 410,100 |
Subordinated Debt | 100,048 | 110,749 |
Subordinated Debt - Trust Preferred Securities | 5,000 | 5,000 |
Accrued Interest Payable | 11,188 | 2,092 |
Other Liabilities | 40,018 | 27,419 |
Total Liabilities | 5,884,415 | 5,409,979 |
Commitments and Contingencies (See Note 11) | ||
SHAREHOLDERS' EQUITY | ||
Preferred Stock, No Par Value; 5,000,000 Shares Authorized; 72,010 Shares ($1,000 Liquidation Preference) Issued at both September 30, 2023 and December 31, 2022, respectively | 71,930 | 71,930 |
Common Stock, $1 Par Value; 50,000,000 Shares Authorized; 25,344,168 and 25,110,313 Shares Issued and Outstanding at September 30, 2023 and December 31, 2022, respectively | 25,344 | 25,110 |
Additional Paid-in Capital | 396,121 | 393,690 |
Retained Earnings | 205,207 | 163,955 |
Accumulated Other Comprehensive Loss | (94,236) | (74,204) |
Total Shareholders' Equity | 604,366 | 580,481 |
Total Liabilities and Shareholders' Equity | 6,488,781 | 5,990,460 |
Mortgage Receivable [Member] | ||
Mortgage Loans Held for Sale | $ 652 | $ 304 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-Sale, Amortized Cost | $ 968,498 | $ 985,599 |
Financing receivable, allowance for credit losses | $ 41,129 | $ 38,178 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 72,010 | 72,010 |
Preferred stock, Liquidation Preference | $ 1,000 | $ 1,000 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 25,344,168 | 25,110,313 |
Common stock, shares outstanding (in shares) | 25,344,168 | 25,110,313 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest Income: | ||||
Interest and Fees on Loans | $ 84,575 | $ 58,846 | $ 237,566 | $ 148,668 |
Interest and Dividends on Non-taxable Securities | 1,099 | 1,014 | 3,265 | 3,138 |
Interest and Dividends on Taxable Securities | 3,954 | 3,186 | 11,667 | 9,049 |
Interest on Federal Funds Sold and Due From Banks | 3,694 | 427 | 6,164 | 754 |
Total Interest Income | 93,322 | 63,473 | 258,662 | 161,609 |
Interest Expense: | ||||
Interest on Deposits | 30,110 | 6,286 | 72,718 | 11,106 |
Interest on Borrowings | 7,918 | 3,707 | 24,575 | 6,986 |
Total Interest Expense | 38,028 | 9,993 | 97,293 | 18,092 |
Net Interest Income | 55,294 | 53,480 | 161,369 | 143,517 |
Provision for Credit Losses | 604 | 3,273 | 4,364 | 7,835 |
Net Interest Income after Provision for Credit Losses | 54,690 | 50,207 | 157,005 | 135,682 |
Other Income: | ||||
Service Charges on Deposit Accounts | 2,540 | 2,116 | 7,234 | 6,007 |
Loss on Sales of Securities | 0 | (7) | (62) | (46) |
Gain on Sales of Loans | 321 | 264 | 1,426 | 515 |
Other Income | 7,022 | 5,742 | 21,631 | 14,556 |
Total Other Income | 9,883 | 8,115 | 30,229 | 21,032 |
Other Expenses: | ||||
Salaries and Employee Benefits | 22,487 | 21,906 | 68,002 | 63,017 |
Occupancy and Equipment Expense | 5,445 | 5,122 | 15,558 | 14,449 |
Other Expenses | 10,675 | 13,918 | 33,428 | 33,597 |
Total Other Expenses | 38,607 | 40,946 | 116,988 | 111,063 |
Income Before Income Taxes | 25,966 | 17,376 | 70,246 | 45,651 |
Provision for Income Taxes | 5,511 | 3,576 | 15,027 | 9,363 |
Net Income | 20,455 | 13,800 | 55,219 | 36,288 |
Preferred Stock Dividends | 1,351 | 0 | 4,051 | 0 |
Net Income Available to Common Shareholders | $ 19,104 | $ 13,800 | $ 51,168 | $ 36,288 |
Earnings Per Common Share: | ||||
Basic (in dollars per share) | $ 0.76 | $ 0.61 | $ 2.04 | $ 1.65 |
Diluted (in dollars per share) | $ 0.76 | $ 0.61 | $ 2.02 | $ 1.64 |
Unaudited Consolidated Statem_2
Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Consolidated Net Income | $ 20,455 | $ 13,800 | $ 55,219 | $ 36,288 |
Other Comprehensive Income (Loss): | ||||
Unrealized Loss on Investment Securities | (16,398) | (27,588) | (24,009) | (106,774) |
Unrealized Gain (Loss) on Share of Other Equity Investments | (8) | (38) | (1,451) | 1,041 |
Reclassification Adjustment for Losses on Sale of AFS Investment Securities Included in Net Income | 0 | 7 | 62 | 46 |
Income Tax Effect | 3,466 | 5,683 | 5,366 | 22,194 |
Other Comprehensive Loss | (12,940) | (21,936) | (20,032) | (83,493) |
Consolidated Comprehensive Income (Loss) | $ 7,515 | $ (8,136) | $ 35,187 | $ (47,205) |
Unaudited Consolidated Statem_3
Unaudited Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Preferred Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at Dec. 31, 2021 | $ 0 | $ 20,400 | $ 292,271 | $ 121,874 | $ (1,177) | $ 433,368 | ||||||
Net Income | 0 | 0 | 0 | 36,288 | 0 | 36,288 | ||||||
Other Comprehensive income (Loss) | 0 | 0 | 0 | 0 | (83,493) | (83,493) | ||||||
Cash Dividends Declared on common stock | 0 | 0 | 0 | (7,826) | 0 | (7,826) | ||||||
Preferred Stock Issuance | 72,010 | 0 | 0 | 0 | 0 | 72,010 | ||||||
Stock Issuance | 0 | 2,094 | 53,376 | 0 | 0 | 55,470 | ||||||
Surrendered Shares of Options Exercised | 0 | (8) | (179) | 0 | 0 | (187) | ||||||
Stock Based Compensation Cost | 0 | 119 | 2,253 | 0 | 0 | 2,372 | ||||||
Balances at Sep. 30, 2022 | 72,010 | 22,605 | 347,721 | 150,336 | (84,670) | 508,002 | ||||||
Balances at Jun. 30, 2022 | 0 | 22,579 | 346,382 | 139,232 | (62,734) | 445,459 | ||||||
Net Income | 0 | 0 | 0 | 13,800 | 0 | 13,800 | ||||||
Other Comprehensive income (Loss) | 0 | 0 | 0 | 0 | (21,936) | (21,936) | ||||||
Cash Dividends Declared on common stock | 0 | 0 | 0 | (2,696) | 0 | (2,696) | ||||||
Preferred Stock Issuance | 72,010 | 0 | 0 | 0 | 0 | 72,010 | ||||||
Stock Issuance | 0 | 15 | 209 | 0 | 0 | 224 | ||||||
Surrendered Shares of Options Exercised | 0 | (8) | (179) | 0 | 0 | (187) | ||||||
Stock Based Compensation Cost | 0 | 19 | 1,309 | 0 | 0 | 1,328 | ||||||
Balances at Sep. 30, 2022 | 72,010 | 22,605 | 347,721 | 150,336 | (84,670) | 508,002 | ||||||
Balances (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ 0 | $ 0 | $ 0 | $ (827) | $ 0 | $ (827) | ||||||
Balances at Dec. 31, 2022 | 71,930 | 25,110 | 393,690 | 163,955 | (74,204) | 580,481 | ||||||
Net Income | 0 | 0 | 0 | 55,219 | 0 | 55,219 | ||||||
Other Comprehensive income (Loss) | 0 | 0 | 0 | 0 | (20,032) | (20,032) | ||||||
Cash Dividends Declared on common stock | 0 | 0 | 0 | (9,089) | 0 | (9,089) | ||||||
Stock Based Compensation Cost | 0 | 234 | 2,431 | 0 | 0 | 2,665 | ||||||
Cash Dividends Declared on Preferred Stock | 0 | 0 | 0 | (4,051) | 0 | (4,051) | ||||||
Balances at Sep. 30, 2023 | 71,930 | 25,344 | 396,121 | 205,207 | (94,236) | 604,366 | ||||||
Balances at Jun. 30, 2023 | 71,930 | 25,344 | 395,875 | 189,115 | (81,296) | 600,968 | ||||||
Net Income | 0 | 0 | 0 | 20,455 | 0 | 20,455 | ||||||
Other Comprehensive income (Loss) | 0 | 0 | 0 | 0 | (12,940) | (12,940) | ||||||
Cash Dividends Declared on common stock | 0 | 0 | 0 | (3,012) | 0 | (3,012) | ||||||
Stock Based Compensation Cost | 0 | 0 | 246 | 0 | 0 | 246 | ||||||
Cash Dividends Declared on Preferred Stock | 0 | 0 | 0 | (1,351) | 0 | (1,351) | ||||||
Balances at Sep. 30, 2023 | $ 71,930 | $ 25,344 | $ 396,121 | $ 205,207 | $ (94,236) | $ 604,366 |
Unaudited Consolidated Statem_4
Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Cash dividends declared, per share, common stock (in dollars per share) | $ 0.12 | $ 0.12 | $ 0.36 | $ 0.36 |
Cash dividends declared, per share, preferred stock (in dollars per share) | $ 18.75 | $ 56.25 |
Unaudited Consolidated Statem_5
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash Flows From Operating Activities: | ||
Consolidated Net Income | $ 55,219 | $ 36,288 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ||
Provision for Credit Losses | 4,364 | 7,835 |
Depreciation and Amortization | 3,546 | 3,642 |
Net Accretion of Purchase Accounting Adjustments | (6,159) | (4,109) |
Stock Based Compensation Cost | 2,665 | 2,372 |
Net Amortization of Securities | 3,241 | 4,632 |
Loss on Sales of Securities | 62 | 46 |
Gain on Sale of Loans | (375) | (347) |
Income on Other Equity Securities | (3,826) | (792) |
(Gain) Loss on Sale of Other Real Estate Owned, Net of Writedowns | (308) | 95 |
Increase in Cash Value of Life Insurance | (1,675) | (1,405) |
Deferred Income Tax Expense (Benefit) | 2,121 | (2,651) |
Gain on Sale of Branch | (932) | 0 |
Changes in Assets and Liabilities: | ||
Increase in Accrued Interest Receivable | (2,394) | (254) |
(Increase) Decrease in Other Assets | (3,313) | 6,446 |
Increase (Decrease) in Accrued Interest Payable | 9,096 | (550) |
Increase in Other Liabilities | 9,816 | 6,949 |
Net Cash Provided by Operating Activities | 71,148 | 58,197 |
Cash Flows From Investing Activities: | ||
Purchases of Securities Available for Sale | (46,211) | (82,380) |
Proceeds from Maturities / Sales of Securities Available for Sale | 17,320 | 35,197 |
Proceeds from Paydowns of Securities Available for Sale | 42,688 | 72,248 |
Net Cash Received in Acquisition | 0 | 163,460 |
Net Cash Paid in Sale of Branch | (14,506) | 0 |
Purchases of Other Equity Securities | (13,961) | (18,076) |
Redemption of Other Equity Securities | 21,212 | 3,215 |
Purchase of Life Insurance | (2,273) | (15,000) |
Proceeds from Death Benefit of Cash Value of Life Insurance | 0 | 188 |
Net Increase in Loans | (307,487) | (897,943) |
Net Purchases of Premises and Equipment | (5,718) | (7,193) |
Loss on Disposal of Premises and Equipment | 0 | 717 |
Proceeds from Sales of Other Real Estate | 1,240 | 646 |
Net (Increase) Decrease in Federal Funds Sold | (181,010) | 215,907 |
Net Cash Used in Investing Activities | (488,706) | (529,014) |
Cash Flows From Financing Activities: | ||
Net Increase in Deposits | 386,713 | 31,587 |
Net Increase in Securities Sold Under Agreements to Repurchase | 3,037 | 2,951 |
Net Decrease in Federal Funds Purchased | (14,057) | 0 |
Net Advances (Repayments) on Federal Home Loan Bank Borrowings | (195,916) | 451,162 |
Net Proceeds on Bank Term Funding Program | 300,000 | 0 |
Issuance of Short Term Borrowings | 0 | 4,989 |
Repayment of Subordinated Debt | (8,900) | 0 |
Gain on Extinguishment of Debt | (1,458) | 0 |
Proceeds from Issuance of Preferred Stock | 0 | 72,010 |
Proceeds from Issuance of Common Stock | 0 | 427 |
Surrendered Shares of Options Exercised | 0 | (187) |
Payment of Dividends on Preferred Stock | (4,051) | 0 |
Payment of Dividends on Common Stock | (9,089) | (7,826) |
Net Cash Provided by Financing Activities | 456,279 | 555,113 |
Net Increase in Cash and Cash Equivalents | 38,721 | 84,296 |
Cash and Cash Equivalents at Beginning of Period | 152,740 | 68,375 |
Cash and Cash Equivalents at End of Period | 191,461 | 152,671 |
Supplemental Disclosures for Cash Flow Information: | ||
Interest on Deposits | 71,039 | 11,558 |
Interest on Borrowings | 17,158 | 6,865 |
Income Tax Payments | 9,489 | 8,065 |
Supplemental Schedule for Noncash Investing and Financing Activities: | ||
Change in the Unrealized Loss on Securities Available for Sale | (23,947) | (106,728) |
Change in the Unrealized Gain (Loss) on Equity Securities | (1,451) | 1,041 |
Change in Deferred Tax Effect on the Unrealized Loss on Securities Available for Sale | 5,366 | 22,194 |
Transfer of Loans to Other Real Estate | 1,118 | 154 |
Acquisitions: | ||
Fair Value of Tangible Assets Acquired | 0 | 531,510 |
Other Intangible Assets Acquired | 0 | 3,875 |
Liabilities Assumed | 0 | 508,991 |
Net Identifiable Assets Acquired Over Liabilities Assumed | $ 0 | $ 26,394 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1 Basis of Presentation The unaudited consolidated financial statements include the accounts of Business First Bancshares, Inc. (the “Company”) and its two b1BANK In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the financial results for the periods presented, and all such adjustments are of a normal recurring nature. All material intercompany transactions are eliminated. The results of operations for the interim periods are not These interim consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and, therefore, certain information and footnote disclosures normally presented in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) have been omitted or abbreviated. These interim financial statements should be read in conjunction with the audited consolidated financial statements and footnote disclosures for the Company’s previously filed Form 10 December 31, 2022. Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may not may not may Accounting Standards Adopted in Current Period Effective January 1, 2023, 2016 13, Financial Instrument Credit Losses (Topic 326 January 1, 2023, January 1, 2023, January 1, 2023, Upon adoption of the guidance on January 1, 2023, b1BANK not not The adoption of this guidance did not The Company also adopted ASU 2022 02, Financial Instruments Credit Losses (Topic 326 Troubled Debt Restructurings and Vintage Disclosures January 1, 2023. not Allowance for Credit Losses The Company calculates its allowance for credit losses utilizing a CECL methodology. CECL requires management’s estimate of credit losses over the full remaining expected life of loans and other financial instruments and for the Company, CECL applies to loans, unfunded commitments, and available for sale securities. The allowance for credit losses is increased through provisions charged to earnings and reduced by net charge-offs, inclusive of recoveries. Management evaluates the appropriateness of the allowance for credit losses on a quarterly basis. The allowance considers expected losses for the remaining lives of the applicable assets. Forecasted economic scenarios are considered over a reasonable and supportable forecast period, currently one one not The allowance recorded for loan losses utilizes forward-looking expected loss models to consider a variety of factors affecting lifetime credit losses. These factors include loan and borrower characteristics, such as internal risk ratings, delinquency status, collateral type and available valuation information, and the remaining term of the loan, adjusted for expected prepayments. Where loans do not The Company has elected to exclude accrued interest receivable from the amortized cost basis on its loan portfolio. The Company has also elected to not no 90 90 Purchased Loans Beginning January 1, 2023, not Allowance for Credit Losses on Off-Balance Sheet Credit Exposures The Company also assesses the credit risk associated with off-balance sheet loan commitments and letters of credit. The liability for off-balance sheet credit exposure related to loan commitments and other credit guarantees is included in other liabilities. Because business processes and credit risks associated with unfunded credit commitments are essentially the same as for loans, the Company utilizes similar processes to estimate its liability for unfunded credit commitments. The adoption of this guidance did not Allowance for Credit Losses on Securities In conjunction with the adoption of CECL, the Company also evaluates its securities portfolio for credit losses, as the CECL update modifies the debt security credit impairment model to recognize an allowance for estimated credit losses. Similar to the election on the loan portfolio, the Company has elected to exclude accrued interest receivable from the amortized cost basis of its investment portfolio analysis. Based on our assessments, expected credit losses were negligible and therefore, no Beginning January 1, 2023, no not not not not Accounting Standards Not None |
Note 2 - Reclassifications -
Note 2 - Reclassifications - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | Note 2 Reclassifications – Certain reclassifications may 2023. no |
Note 3 - Mergers and Acquisitio
Note 3 - Mergers and Acquisitions - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 3 Mergers and Acquisitions Texas Citizens Bancorp, Inc. On March 1, 2022, October 20, 2021, March 1, 2022, b1BANK. February 28, 2022, The following table reflects the consideration paid for TCBI’s net assets and the identifiable assets purchased and liabilities assumed at their fair values as of March 1, 2022. Cost and Allocation of Purchase Price for Texas Citizens Bancorp, Inc. (TCBI): (Dollars in thousands, except per share data) Purchase Price: Shares Issued to TCBI's Shareholders on March 1, 2022 2,069,532 Closing Stock Price on February 28, 2022 $ 26.19 Total Stock Issued $ 54,201 Other Consideration, Including Equity Awards 842 Total Purchase Price $ 55,043 Net Assets Acquired: Cash and Cash Equivalents $ 163,460 Securities Available for Sale 370 Loans and Leases Receivable 338,027 Premises and Equipment, Net 2,776 Cash Value of Life Insurance 12,146 Core Deposit Intangible 3,875 Other Assets 14,731 Total Assets 535,385 Deposits 477,277 Borrowings 30,708 Other Liabilities 1,006 Total Liabilities 508,991 Net Assets Acquired 26,394 Goodwill Resulting from Merger $ 28,649 The Company has recorded approximately $173,000 and $5.2 million of acquisition-related costs within merger and conversion-related expenses and salaries and benefits for the nine September 30, 2023, December 31, 2022. The following is a description of the methods used to determine the fair values of significant assets acquired and liabilities assumed presented above. Cash and Cash Equivalents: Securities Available for Sale: not not Loans and Leases Receivable: not not Core Deposit Intangible ( CDI ): Deposits: Borrowings: Pro forma tables for TCBI were impractical to include due to the cost versus benefit of including such disclosures. |
Note 4 - Earnings Per Common Sh
Note 4 - Earnings Per Common Share - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 4 Earnings per Common Share Basic earnings per share (“EPS”) represents income available to common shareholders divided by the weighted average number of common shares outstanding; no may two For the Three Months Ended For the Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (Dollars in thousands, except per share data) Numerator: Net Income $ 20,455 $ 13,800 $ 55,219 $ 36,288 Less: Preferred Stock Dividends 1,351 - 4,051 - Net Income Available to Common Shares $ 19,104 $ 13,800 $ 51,168 $ 36,288 Denominator: Weighted Average Common Shares Outstanding 25,111,548 22,468,939 25,064,856 21,990,273 Dilutive Effect of Stock Options and RSAs 177,112 181,701 217,052 173,679 Weighted Average Dilutive Common Shares 25,288,660 22,650,640 25,281,908 22,163,952 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.76 $ 0.61 $ 2.04 $ 1.65 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.76 $ 0.61 $ 2.02 $ 1.64 |
Note 5 - Securities -
Note 5 - Securities - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 5 Securities The amortized cost and fair values of securities available for sale as of September 30, 2023, December 31, 2022 September 30, 2023 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Treasury Securities $ 32,704 $ - $ 2,531 $ 30,173 U.S. Government Agencies 50,237 - 2,762 47,475 Corporate Securities 49,405 - 6,831 42,574 Mortgage-Backed Securities 497,388 - 65,676 431,712 Municipal Securities 338,764 1 40,995 297,770 Total Securities Available for Sale $ 968,498 $ 1 $ 118,795 $ 849,704 December 31, 2022 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Treasury Securities $ 32,783 $ - $ 2,668 $ 30,115 U.S. Government Agencies 50,288 - 2,916 47,372 Corporate Securities 48,475 25 2,496 46,004 Mortgage-Backed Securities 506,671 267 55,213 451,725 Municipal Securities 347,382 11 31,858 315,535 Total Securities Available for Sale $ 985,599 $ 303 $ 95,151 $ 890,751 The following tables present a summary of securities with gross unrealized losses and fair values at September 30, 2023 December 31, 2022, September 30, 2023 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Treasury Securities $ - $ - $ 30,173 $ 2,531 $ 30,173 $ 2,531 U.S. Government Agencies - - 47,475 2,762 47,475 2,762 Corporate Securities 18,896 3,012 23,678 3,819 42,574 6,831 Mortgage-Backed Securities 33,496 2,461 388,178 63,215 421,674 65,676 Municipal Securities 49,404 4,980 246,136 36,015 295,540 40,995 Total Securities Available for Sale $ 101,796 $ 10,453 $ 735,640 $ 108,342 $ 837,436 $ 118,795 December 31, 2022 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Treasury Securities $ 9,702 $ 374 $ 20,413 $ 2,294 $ 30,115 $ 2,668 U.S. Government Agencies 24,405 595 22,967 2,321 47,372 2,916 Corporate Securities 19,564 1,359 6,385 1,137 25,949 2,496 Mortgage-Backed Securities 115,692 7,473 324,043 47,740 439,735 55,213 Municipal Securities 143,035 10,206 131,944 21,652 274,979 31,858 Total Securities Available for Sale $ 312,398 $ 20,007 $ 505,752 $ 75,144 $ 818,150 $ 95,151 As of September 30, 2023, no not not not not For the period ended December 31, 2022, not no December 31, 2022. The amortized cost and fair values of securities available for sale as of September 30, 2023, may may Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 30,310 $ 29,775 One to Five Years 238,059 219,241 Over Five to Ten Years 354,881 308,571 Over Ten Years 345,248 292,117 Total Securities Available for Sale $ 968,498 $ 849,704 At September 30, 2023, At September 30, 2023 December 31, 2022, |
Note 6 - Loans and the Allowanc
Note 6 - Loans and the Allowance for Loan Losses - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 6 Loans and the Allowance for Loan Losses Loans receivable at September 30, 2023 December 31, 2022 September 30, December 31, 2023 2022 (Dollars in thousands) Real Estate Loans: Commercial $ 2,128,855 $ 2,020,406 Construction 708,835 722,074 Residential 686,921 656,378 Total Real Estate Loans 3,524,611 3,398,858 Commercial 1,332,384 1,153,873 Consumer and Other 63,278 53,445 Total Loans Held for Investment 4,920,273 4,606,176 Less: Allowance for Loan Losses (41,129 ) (38,178 ) Net Loans $ 4,879,144 $ 4,567,998 The performing 1 4 September 30, 2023 December 31, 2022. September 30, 2023. Net deferred loan origination fees were $12.8 million and $13.1 million at September 30, 2023 December 31, 2022, September 30, 2023 December 31, 2022, The Bank is the lead lender on participations sold, without recourse, to other financial institutions which amounts are not September 30, 2023 December 31, 2022, September 30, 2023, December 31, 2022, The Bank grants loans and extensions of credit to individuals and a variety of businesses and corporations located in its general market areas throughout Louisiana and Texas. Management segregates the loan portfolio into portfolio segments which is defined as the level at which the Bank develops and documents a systematic method for determining its allowance for credit losses. The portfolio segments are segregated based on loan types and the underlying risk factors present in each loan type. Such risk factors are periodically reviewed by management and revised as deemed appropriate. Portfolio Segments and Risk Factors The loan portfolio is disaggregated into portfolio segments and then further disaggregated into classes for certain disclosures. GAAP defines a portfolio segment as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. A class is generally a disaggregation of a portfolio segment. The Company's loan portfolio segments are Real Estate, Commercial, and Consumer and Other. The classes and risk characteristics of each segment are discussed in more detail below. The segmentation and disaggregation of the portfolio is part of the ongoing credit monitoring process. Real Estate Portfolio Segment Real Estate: Commercial may Real Estate: Construction may Real Estate: Residential first second 1 4 Commercial Portfolio Segment Commercial may not may not Consumer and Other Portfolio Segment Consumer and other The following table sets forth, as of September 30, 2023, not not Allowance for Credit Losses and Recorded Investment in Loans Receivable September 30, 2023 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Consumer Commercial Construction Residential Commercial and Other Total Allowance for Loan Losses: Beginning Balance $ 14,702 $ 5,768 $ 5,354 $ 11,721 $ 633 $ 38,178 Adoption of ASU 2016-13 4,823 933 (365 ) (2,483 ) (248 ) 2,660 Beginning Balance After Adoption 19,525 6,701 4,989 9,238 385 40,838 Charge-offs (1,827 ) (1 ) (42 ) (2,407 ) (1,113 ) (5,390 ) Recoveries 21 1 9 655 206 892 Provision 770 1,474 441 1,170 934 4,789 Ending Balance $ 18,489 $ 8,175 $ 5,397 $ 8,656 $ 412 $ 41,129 Reserve for Unfunded Loan Commitments: Beginning Balance $ 220 $ 137 $ 13 $ 229 $ 6 $ 605 Adoption of ASU 2016-13 116 2,113 190 657 121 3,197 Beginning Balance After Adoption 336 2,250 203 886 127 3,802 Provision 7 (556 ) 32 195 (103 ) (425 ) Ending Balance $ 343 $ 1,694 $ 235 $ 1,081 $ 24 $ 3,377 Total Allowance for Credit Losses $ 18,832 $ 9,869 $ 5,632 $ 9,737 $ 436 $ 44,506 Included within the above allowance are loans which management has individually evaluated to determine an allowance for credit losses. The following table summarizes, by segment, the loan balance and specific allowance allocation for those loans which have been individually evaluated. September 30, 2023 January 1, 2023 Loan Balance Specific Allocations Loan Balance Specific Allocations (Dollars in thousands) Real Estate Loans: Commercial $ 4,877 $ - $ 3,008 $ 1,915 Construction 2,350 528 1,424 513 Residential 1,567 - 1,558 3 Total Real Estate Loans 8,794 528 5,990 2,431 Commercial - - 6,096 1,779 Consumer and Other - - - - Total $ 8,794 $ 528 $ 12,086 $ 4,210 The following table sets forth, as of December 31, 2022 ( 2016 13 not not December 31, 2022 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Consumer Commercial Construction Residential Commercial and Other Total Allowance for Loan Losses: Beginning Balance $ 10,515 $ 4,498 $ 4,565 $ 9,016 $ 518 $ 29,112 Charge-offs (51 ) (16 ) (191 ) (2,139 ) (424 ) (2,821 ) Recoveries 50 25 20 739 167 1,001 Provision 4,188 1,261 960 4,105 372 10,886 Ending Balance $ 14,702 $ 5,768 $ 5,354 $ 11,721 $ 633 $ 38,178 Ending Balance: Individually Evaluated for Impairment $ 59 $ 21 $ 99 $ 2,020 $ 15 $ 2,214 Collectively Evaluated for Impairment $ 14,643 $ 5,747 $ 5,255 $ 9,701 $ 618 $ 35,964 Purchased Credit Impaired $ - $ - $ - $ - $ - $ - Loans Receivable: Ending Balance $ 2,020,406 $ 722,074 $ 656,378 $ 1,153,873 $ 53,445 $ 4,606,176 Ending Balance: Individually Evaluated for Impairment $ 3,053 $ 992 $ 4,028 $ 6,442 $ 192 $ 14,707 Collectively Evaluated for Impairment $ 1,989,831 $ 720,129 $ 637,195 $ 1,141,957 $ 52,570 $ 4,541,682 Purchased Credit Impaired $ 27,522 $ 953 $ 15,155 $ 5,474 $ 683 $ 49,787 Credit Quality Indicators We utilize a risk grading matrix to assign a risk grade to each of our commercial loans. Loans are graded on a scale of 10 80. 60, 70 The following table sets forth the credit quality indicators, disaggregated by loan segment, as of September 30, 2023: September 30, 2023 Criticized Pass Special Mention Substandard Doubtful Loss Current Period Charge- (Risk Grade 10-45) (Risk Grade 50) (Risk Grade 60) (Risk Grade 70) (Risk Grade 80) Total offs (Dollars in thousands) Real Estate: Commercial Originated in 2023 $ 165,134 $ - $ 86 $ - $ - $ 165,220 $ - Originated in 2022 733,458 1,699 - - - 735,157 - Originated in 2021 423,682 6,150 71 - - 429,903 357 Originated in 2020 154,433 3,573 10 - - 158,016 - Originated in 2019 148,044 9,774 382 937 - 159,137 1,447 Originated Prior to 2019 382,109 8,138 10,187 472 - 400,906 23 Revolving 80,333 - 183 - - 80,516 - Revolving Loans Converted to Term - - - - - - - Total Real Estate: Commercial $ 2,087,193 $ 29,334 $ 10,919 $ 1,409 $ - $ 2,128,855 $ 1,827 Real Estate: Construction Originated in 2023 $ 105,036 $ - $ - $ - $ - $ 105,036 $ - Originated in 2022 360,157 - 214 - - 360,371 - Originated in 2021 105,193 - 1,270 - - 106,463 - Originated in 2020 35,309 31 - - - 35,340 - Originated in 2019 20,796 - 1,718 - - 22,514 1 Originated Prior to 2019 21,460 421 351 345 - 22,577 - Revolving 56,534 - - - - 56,534 - Revolving Loans Converted to Term - - - - - - - Total Real Estate: Construction $ 704,485 $ 452 $ 3,553 $ 345 $ - $ 708,835 $ 1 Real Estate: Residential Originated in 2023 $ 52,118 $ 33 $ - $ - $ - $ 52,151 $ - Originated in 2022 173,486 435 275 15 - 174,211 - Originated in 2021 108,118 - 715 - - 108,833 11 Originated in 2020 70,187 386 652 63 - 71,288 1 Originated in 2019 60,872 124 944 123 - 62,063 22 Originated Prior to 2019 103,755 1,248 5,811 325 - 111,139 7 Revolving 106,827 - 389 - - 107,216 1 Revolving Loans Converted to Term 20 - - - - 20 - Total Real Estate: Residential $ 675,383 $ 2,226 $ 8,786 $ 526 $ - $ 686,921 $ 42 Commercial Originated in 2023 $ 232,137 $ 278 $ 9 $ - $ - $ 232,424 $ - Originated in 2022 282,674 272 897 - - 283,843 97 Originated in 2021 148,156 5,599 913 16 - 154,684 15 Originated in 2020 57,448 4,064 1,004 44 - 62,560 27 Originated in 2019 34,623 544 707 250 - 36,124 1,453 Originated Prior to 2019 62,637 4,029 3,318 269 - 70,253 613 Revolving 489,138 2,953 377 28 - 492,496 202 Revolving Loans Converted to Term - - - - - - - Total Commercial $ 1,306,813 $ 17,739 $ 7,225 $ 607 $ - $ 1,332,384 $ 2,407 Consumer and Other Originated in 2023 $ 9,230 $ - $ - $ - $ - $ 9,230 $ 8 Originated in 2022 8,157 - 46 - - 8,203 28 Originated in 2021 4,241 - 54 - - 4,295 25 Originated in 2020 2,199 - 94 - - 2,293 11 Originated in 2019 2,525 - 46 - - 2,571 18 Originated Prior to 2019 2,968 - 101 - - 3,069 58 Revolving 33,331 - 162 - - 33,493 965 Revolving Loans Converted to Term 124 - - - - 124 - Total Consumer and Other $ 62,775 $ - $ 503 $ - $ - $ 63,278 $ 1,113 Total Loans $ 4,836,649 $ 49,751 $ 30,986 $ 2,887 $ - $ 4,920,273 $ 5,390 The following table sets forth the credit quality indicators, disaggregated by loan segment, as of December 31, 2022 ( 2016 13 December 31, 2022 Pass Special Mention Substandard Doubtful (Risk Grade 10-45) (Risk Grade 50) (Risk Grade 60) (Risk Grade 70) Total (Dollars in thousands) Real Estate Loans: Commercial $ 1,972,611 $ 35,054 $ 10,478 $ 2,263 $ 2,020,406 Construction 716,071 3,496 2,157 350 722,074 Residential 643,763 3,780 7,925 910 656,378 Total Real Estate Loans 3,332,445 42,330 20,560 3,523 3,398,858 Commercial 1,137,555 6,646 6,960 2,712 1,153,873 Consumer and Other 53,041 - 404 - 53,445 Total $ 4,523,041 $ 48,976 $ 27,924 $ 6,235 $ 4,606,176 The above classifications follow regulatory guidelines and can generally be described as follows: ● Pass loans are of satisfactory quality. ● Special mention loans have an existing weakness that could cause future impairment, including the deterioration of financial ratios, past due status, questionable management capabilities and possible reduction in the collateral values. ● Substandard loans have an existing specific and well-defined weakness that may may ● Doubtful loans have specific weaknesses that are severe enough to make collection or liquidation in full highly questionable and improbable. As of September 30, 2023, December 31, 2022, 90 September 30, 2023, December 31, 2022, 90 The following tables provide an analysis of the aging of loans and leases as of September 30, 2023, December 31, 2022. December 31, 2022, not no September 30, 2023. 90 Aged Analysis of Past Due Loans Receivable September 30, 2023 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Commercial $ 468 $ 1,995 $ 3,739 $ 6,202 $ 2,122,653 $ 2,128,855 $ 127 Construction 365 624 2,993 3,982 704,853 708,835 117 Residential 2,237 324 4,115 6,676 680,245 686,921 - Total Real Estate Loans 3,070 2,943 10,847 16,860 3,507,751 3,524,611 244 Commercial 4,678 420 1,241 6,339 1,326,045 1,332,384 - Consumer and Other 276 59 210 545 62,733 63,278 3 Total $ 8,024 $ 3,422 $ 12,298 $ 23,744 $ 4,896,529 $ 4,920,273 $ 247 December 31, 2022 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Commercial $ 1,491 $ 210 $ 1,681 $ 3,382 $ 2,017,024 $ 2,020,406 $ 98 Construction 320 41 638 999 721,075 722,074 - Residential 1,590 423 1,781 3,794 652,584 656,378 - Total Real Estate Loans 3,401 674 4,100 8,175 3,390,683 3,398,858 98 Commercial 1,183 1,934 2,186 5,303 1,148,570 1,153,873 222 Consumer and Other 295 28 182 505 52,940 53,445 15 Total $ 4,879 $ 2,636 $ 6,468 $ 13,983 $ 4,592,193 $ 4,606,176 $ 335 Upon adoption of ASU 2016 13, January 1, 2023. September 30, 2023, January 1, 2023, December 31, 2022, September 30, January 1, December 31, 2023 2023 2022 (Dollars in thousands) Real Estate Loans: Commercial $ 4,009 $ 5,847 $ 2,644 Construction 3,161 2,421 992 Residential 7,277 6,518 4,080 Total Real Estate Loans 14,447 14,786 7,716 Commercial 1,338 3,045 3,150 Consumer and Other 244 257 188 Total $ 16,029 $ 18,088 $ 11,054 Accrued interest receivable of $4.5 million and $5.4 million was outstanding as of September 30, 2023, December 31, 2022, 19 2020 2021. no At September 30, 2023 December 31, 2022, |
Note 7 - Long Term Debt -
Note 7 - Long Term Debt - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | Note 7 Long Term Debt On March 1, 2022, three April 11, 2028. December 13, 2023, December 13, 2028. third March 24, 2027. May 1, 2023 2023. September 30, 2023. |
Note 8 - Bank Term Funding Prog
Note 8 - Bank Term Funding Program ("BTFP") - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Short-Term Debt [Text Block] | Note 8 Bank Term Funding Program ( BTFP ) On March 12, 2023, one September 30, 2023. |
Note 9 - Federal Home Loan Bank
Note 9 - Federal Home Loan Bank ("FHLB") Borrowing - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9 Federal Home Loan Bank ( FHLB ) Borrowings The Company had outstanding advances from the FHLB of $214.2 million and $410.1 million as of September 30, 2023, December 31, 2022, One fixed rate loan with an original principal balance of $60.0 million. The loan was made in 2021 September 30, 2023 December 31, 2022 November 2026. One fixed rate loan of $875,000 at both September 30, 2023, December 31, 2022, April 2025. One fixed rate loan of $100.0 million at both September 30, 2023, December 31, 2022, October 2027. October 2023. One fixed rate loan of $25.0 million at September 30, 2023, July 2025. One fixed rate loan of $25.0 million at September 30, 2023, January 2026. One fixed rate loan of $25.0 million at September 30, 2023, July 2026. One short term, seven December 31, 2022, January 2023. March 31, 2023, second 2023. The Company had an additional $1.6 billion remaining on the FHLB line availability at September 30, 2023. |
Note 10 - Leases
Note 10 - Leases | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 10 Leases The Bank leases certain branch offices through non-cancelable operating leases with terms that range from one ten nine September 30, 2023, 2022, September 30, 2023, Future minimum lease payments under these leases are as follows: (Dollars in thousands) October 1, 2023 through September 30, 2024 $ 3,985 October 1, 2024 through September 30, 2025 3,294 October 1, 2025 through September 30, 2026 2,527 October 1, 2026 through September 30, 2027 2,356 October 1, 2027 through September 30, 2028 2,134 October 1, 2028 and Thereafter 4,067 Total Future Minimum Lease Payments 18,363 Less Imputed Interest (1,669 ) Present Value of Lease Liabilities $ 16,694 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 11 Commitments and Contingencies In the normal course of business, the Bank is a party to financial instruments with off-balance sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby and commercial letters of credit which are not The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby and commercial letters of credit is represented by the contractual amount of those instruments. The Bank’s policy for obtaining collateral, and the nature of such collateral, is essentially the same as that involved in making commitments to extend credit. The Bank uses the same credit policies in making such commitments and conditional obligations as it does for instruments that are included in the balance sheet. In the normal course of business, the Bank has made commitments to extend credit of approximately $1.2 billion and $1.3 billion, and standby and commercial letters of credit of approximately $46.5 million and $45.6 million at September 30, 2023 December 31, 2022, 6, September 30, 2023 December 31, 2022, In the normal course of business, the Bank is involved in various legal proceedings. In the opinion of management and counsel, the disposition or ultimate resolution of such proceedings would not |
Note 12 - Preferred Stock -
Note 12 - Preferred Stock - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | Note 12 Preferred Stock On September 1, 2022, 7.50% first five 3 may not first five nine September 30, 2023, December 31, 2022, |
Note 13 - Fair Value of Financi
Note 13 - Fair Value of Financial Instruments - | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 13 Fair Value of Financial Instruments Fair Value Disclosures The Company groups its financial assets and liabilities measured at fair value in three three ● Level 1 ● Level 2 ● Level 3 Recurring Basis Fair values of investment securities available for sale were primarily measured using information from a third The fair values of loans held for sale are based on commitments on hand from investors within the secondary market for loans with similar characteristics. The following tables present the balance of assets and liabilities measured on a recurring basis as of September 30, 2023, December 31, 2022. not 3 2 September 30, 2023. 2023, not Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2023 Available for Sale: U.S. Treasury Securities $ 30,173 $ - $ 30,173 $ - U.S. Government Agency Securities 47,475 - 47,475 - Corporate Securities 42,574 - 42,574 - Mortgage-Backed Securities 431,712 - 431,712 - Municipal Securities 297,770 - 297,770 - Loans Held for Sale 652 - 652 - Total $ 850,356 $ - $ 850,356 $ - December 31, 2022 Available for Sale: U.S. Treasury Securities $ 30,115 $ - $ 30,115 $ - U.S. Government Agency Securities 47,372 - 47,372 - Corporate Securities 46,004 - 27,004 19,000 Mortgage-Backed Securities 451,725 - 451,725 - Municipal Securities 315,535 - 280,767 34,768 Loans Held for Sale 304 - 304 - Total $ 891,055 $ - $ 837,287 $ 53,768 Nonrecurring Basis The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. The Company did not The fair value of the impaired loans is measured at the fair value of the collateral for collateral-dependent loans. Impaired loans are Level 3 may 3. Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2023 Assets: Impaired Loans $ 8,794 $ - $ - $ 8,794 Servicing Rights 2,216 - 2,216 - Other Nonperforming Assets 1,558 - - 1,558 Total $ 12,568 $ - $ 2,216 $ 10,352 December 31, 2022 Assets: Impaired Loans $ 16,816 $ - $ - $ 16,816 Servicing Rights 2,327 - 2,327 - Other Nonperforming Assets 1,434 - - 1,434 Total $ 20,577 $ - $ 2,327 $ 18,250 Fair Value Financial Instruments The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no not may not may not The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Cash and Short-Term Investments – For those short-term instruments, the carrying amount is a reasonable estimate of fair value. Securities – Fair value of securities is based on quoted market prices. If a quoted market price is not Loans – The fair value for loans is estimated using discounted cash flow analyses, with interest rates currently being offered for similar loans to borrowers with similar credit rates. Loans with similar classifications are aggregated for purposes of the calculations. The allowance for credit losses, which was used to measure the credit risk, is subtracted from loans. Cash Value of Bank-Owned Life Insurance (“BOLI”) – The carrying amount approximates its fair value. Other Equity Securities – The carrying amount approximates its fair value. Deposits – The fair value of demand deposits and certain money market deposits is the amount payable at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using discounted cash flow analyses, with interest rates currently offered for deposits of similar remaining maturities. Borrowings – The fair value of FHLB advances and other long-term borrowings is estimated using the rates currently offered for advances of similar maturities. The carrying amount of short-term borrowings maturing within ninety Commitments to Extend Credit and Standby and Commercial Letters of Credit – The fair values of commitments to extend credit and standby and commercial letters of credit do not The estimated approximate fair values of the Bank’s financial instruments as of September 30, 2023, December 31, 2022 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2023 Financial Assets: Cash and Short-Term Investments $ 388,077 $ 388,077 $ 388,077 $ - $ - Securities 849,704 849,704 - 849,704 - Loans Held for Sale 652 652 - 652 - Loans - Net 4,879,144 4,737,488 - - 4,737,488 Servicing Rights 1,267 2,216 - 2,216 - Cash Value of BOLI 95,906 95,906 - 95,906 - Other Equity Securities 32,591 32,591 - - 32,591 Total $ 6,247,341 $ 6,106,634 $ 388,077 $ 948,478 $ 4,770,079 Financial Liabilities: Deposits $ 5,190,723 $ 5,182,806 $ - $ - $ 5,182,806 Borrowings 642,486 615,349 - 615,349 - Total $ 5,833,209 $ 5,798,155 $ - $ 615,349 $ 5,182,806 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2022 Financial Assets: Cash and Short-Term Investments $ 168,346 $ 168,346 $ 168,346 $ - $ - Securities 890,751 890,751 - 836,983 53,768 Loans Held for Sale 304 304 - 304 - Loans - Net 4,567,998 4,443,577 - - 4,443,577 Servicing Rights 1,712 2,327 - 2,327 - Cash Value of BOLI 91,958 91,958 - 91,958 - Other Equity Securities 37,467 37,467 - - 37,467 Total $ 5,758,536 $ 5,634,730 $ 168,346 $ 931,572 $ 4,534,812 Financial Liabilities: Deposits $ 4,820,345 $ 4,810,263 $ - $ - $ 4,810,263 Borrowings 560,123 544,564 - 544,564 - Total $ 5,380,468 $ 5,354,827 $ - $ 544,564 $ 4,810,263 |
Item 5. Other Information
Item 5. Other Information | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Material Terms of Trading Arrangement [Text Block] | 5. Other Information (a) Not (b) Not (c) During the three September 30, 2023, no 10b5 1 10b5 1 408 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Adopted in Current Period Effective January 1, 2023, 2016 13, Financial Instrument Credit Losses (Topic 326 January 1, 2023, January 1, 2023, January 1, 2023, Upon adoption of the guidance on January 1, 2023, b1BANK not not The adoption of this guidance did not The Company also adopted ASU 2022 02, Financial Instruments Credit Losses (Topic 326 Troubled Debt Restructurings and Vintage Disclosures January 1, 2023. not Allowance for Credit Losses The Company calculates its allowance for credit losses utilizing a CECL methodology. CECL requires management’s estimate of credit losses over the full remaining expected life of loans and other financial instruments and for the Company, CECL applies to loans, unfunded commitments, and available for sale securities. The allowance for credit losses is increased through provisions charged to earnings and reduced by net charge-offs, inclusive of recoveries. Management evaluates the appropriateness of the allowance for credit losses on a quarterly basis. The allowance considers expected losses for the remaining lives of the applicable assets. Forecasted economic scenarios are considered over a reasonable and supportable forecast period, currently one one not The allowance recorded for loan losses utilizes forward-looking expected loss models to consider a variety of factors affecting lifetime credit losses. These factors include loan and borrower characteristics, such as internal risk ratings, delinquency status, collateral type and available valuation information, and the remaining term of the loan, adjusted for expected prepayments. Where loans do not The Company has elected to exclude accrued interest receivable from the amortized cost basis on its loan portfolio. The Company has also elected to not no 90 90 Purchased Loans Beginning January 1, 2023, not Allowance for Credit Losses on Off-Balance Sheet Credit Exposures The Company also assesses the credit risk associated with off-balance sheet loan commitments and letters of credit. The liability for off-balance sheet credit exposure related to loan commitments and other credit guarantees is included in other liabilities. Because business processes and credit risks associated with unfunded credit commitments are essentially the same as for loans, the Company utilizes similar processes to estimate its liability for unfunded credit commitments. The adoption of this guidance did not Allowance for Credit Losses on Securities In conjunction with the adoption of CECL, the Company also evaluates its securities portfolio for credit losses, as the CECL update modifies the debt security credit impairment model to recognize an allowance for estimated credit losses. Similar to the election on the loan portfolio, the Company has elected to exclude accrued interest receivable from the amortized cost basis of its investment portfolio analysis. Based on our assessments, expected credit losses were negligible and therefore, no Beginning January 1, 2023, no not not not not Accounting Standards Not None |
Note 3 - Mergers and Acquisit_2
Note 3 - Mergers and Acquisitions - (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Cost and Allocation of Purchase Price for Texas Citizens Bancorp, Inc. (TCBI): (Dollars in thousands, except per share data) Purchase Price: Shares Issued to TCBI's Shareholders on March 1, 2022 2,069,532 Closing Stock Price on February 28, 2022 $ 26.19 Total Stock Issued $ 54,201 Other Consideration, Including Equity Awards 842 Total Purchase Price $ 55,043 Net Assets Acquired: Cash and Cash Equivalents $ 163,460 Securities Available for Sale 370 Loans and Leases Receivable 338,027 Premises and Equipment, Net 2,776 Cash Value of Life Insurance 12,146 Core Deposit Intangible 3,875 Other Assets 14,731 Total Assets 535,385 Deposits 477,277 Borrowings 30,708 Other Liabilities 1,006 Total Liabilities 508,991 Net Assets Acquired 26,394 Goodwill Resulting from Merger $ 28,649 |
Note 4 - Earnings Per Common _2
Note 4 - Earnings Per Common Share - (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (Dollars in thousands, except per share data) Numerator: Net Income $ 20,455 $ 13,800 $ 55,219 $ 36,288 Less: Preferred Stock Dividends 1,351 - 4,051 - Net Income Available to Common Shares $ 19,104 $ 13,800 $ 51,168 $ 36,288 Denominator: Weighted Average Common Shares Outstanding 25,111,548 22,468,939 25,064,856 21,990,273 Dilutive Effect of Stock Options and RSAs 177,112 181,701 217,052 173,679 Weighted Average Dilutive Common Shares 25,288,660 22,650,640 25,281,908 22,163,952 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.76 $ 0.61 $ 2.04 $ 1.65 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.76 $ 0.61 $ 2.02 $ 1.64 |
Note 5 - Securities - (Tables)
Note 5 - Securities - (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | September 30, 2023 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Treasury Securities $ 32,704 $ - $ 2,531 $ 30,173 U.S. Government Agencies 50,237 - 2,762 47,475 Corporate Securities 49,405 - 6,831 42,574 Mortgage-Backed Securities 497,388 - 65,676 431,712 Municipal Securities 338,764 1 40,995 297,770 Total Securities Available for Sale $ 968,498 $ 1 $ 118,795 $ 849,704 December 31, 2022 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Treasury Securities $ 32,783 $ - $ 2,668 $ 30,115 U.S. Government Agencies 50,288 - 2,916 47,372 Corporate Securities 48,475 25 2,496 46,004 Mortgage-Backed Securities 506,671 267 55,213 451,725 Municipal Securities 347,382 11 31,858 315,535 Total Securities Available for Sale $ 985,599 $ 303 $ 95,151 $ 890,751 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] | September 30, 2023 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Treasury Securities $ - $ - $ 30,173 $ 2,531 $ 30,173 $ 2,531 U.S. Government Agencies - - 47,475 2,762 47,475 2,762 Corporate Securities 18,896 3,012 23,678 3,819 42,574 6,831 Mortgage-Backed Securities 33,496 2,461 388,178 63,215 421,674 65,676 Municipal Securities 49,404 4,980 246,136 36,015 295,540 40,995 Total Securities Available for Sale $ 101,796 $ 10,453 $ 735,640 $ 108,342 $ 837,436 $ 118,795 December 31, 2022 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Treasury Securities $ 9,702 $ 374 $ 20,413 $ 2,294 $ 30,115 $ 2,668 U.S. Government Agencies 24,405 595 22,967 2,321 47,372 2,916 Corporate Securities 19,564 1,359 6,385 1,137 25,949 2,496 Mortgage-Backed Securities 115,692 7,473 324,043 47,740 439,735 55,213 Municipal Securities 143,035 10,206 131,944 21,652 274,979 31,858 Total Securities Available for Sale $ 312,398 $ 20,007 $ 505,752 $ 75,144 $ 818,150 $ 95,151 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 30,310 $ 29,775 One to Five Years 238,059 219,241 Over Five to Ten Years 354,881 308,571 Over Ten Years 345,248 292,117 Total Securities Available for Sale $ 968,498 $ 849,704 |
Note 6 - Loans and the Allowa_2
Note 6 - Loans and the Allowance for Loan Losses - (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2023 2022 (Dollars in thousands) Real Estate Loans: Commercial $ 2,128,855 $ 2,020,406 Construction 708,835 722,074 Residential 686,921 656,378 Total Real Estate Loans 3,524,611 3,398,858 Commercial 1,332,384 1,153,873 Consumer and Other 63,278 53,445 Total Loans Held for Investment 4,920,273 4,606,176 Less: Allowance for Loan Losses (41,129 ) (38,178 ) Net Loans $ 4,879,144 $ 4,567,998 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | September 30, 2023 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Consumer Commercial Construction Residential Commercial and Other Total Allowance for Loan Losses: Beginning Balance $ 14,702 $ 5,768 $ 5,354 $ 11,721 $ 633 $ 38,178 Adoption of ASU 2016-13 4,823 933 (365 ) (2,483 ) (248 ) 2,660 Beginning Balance After Adoption 19,525 6,701 4,989 9,238 385 40,838 Charge-offs (1,827 ) (1 ) (42 ) (2,407 ) (1,113 ) (5,390 ) Recoveries 21 1 9 655 206 892 Provision 770 1,474 441 1,170 934 4,789 Ending Balance $ 18,489 $ 8,175 $ 5,397 $ 8,656 $ 412 $ 41,129 Reserve for Unfunded Loan Commitments: Beginning Balance $ 220 $ 137 $ 13 $ 229 $ 6 $ 605 Adoption of ASU 2016-13 116 2,113 190 657 121 3,197 Beginning Balance After Adoption 336 2,250 203 886 127 3,802 Provision 7 (556 ) 32 195 (103 ) (425 ) Ending Balance $ 343 $ 1,694 $ 235 $ 1,081 $ 24 $ 3,377 Total Allowance for Credit Losses $ 18,832 $ 9,869 $ 5,632 $ 9,737 $ 436 $ 44,506 December 31, 2022 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Consumer Commercial Construction Residential Commercial and Other Total Allowance for Loan Losses: Beginning Balance $ 10,515 $ 4,498 $ 4,565 $ 9,016 $ 518 $ 29,112 Charge-offs (51 ) (16 ) (191 ) (2,139 ) (424 ) (2,821 ) Recoveries 50 25 20 739 167 1,001 Provision 4,188 1,261 960 4,105 372 10,886 Ending Balance $ 14,702 $ 5,768 $ 5,354 $ 11,721 $ 633 $ 38,178 Ending Balance: Individually Evaluated for Impairment $ 59 $ 21 $ 99 $ 2,020 $ 15 $ 2,214 Collectively Evaluated for Impairment $ 14,643 $ 5,747 $ 5,255 $ 9,701 $ 618 $ 35,964 Purchased Credit Impaired $ - $ - $ - $ - $ - $ - Loans Receivable: Ending Balance $ 2,020,406 $ 722,074 $ 656,378 $ 1,153,873 $ 53,445 $ 4,606,176 Ending Balance: Individually Evaluated for Impairment $ 3,053 $ 992 $ 4,028 $ 6,442 $ 192 $ 14,707 Collectively Evaluated for Impairment $ 1,989,831 $ 720,129 $ 637,195 $ 1,141,957 $ 52,570 $ 4,541,682 Purchased Credit Impaired $ 27,522 $ 953 $ 15,155 $ 5,474 $ 683 $ 49,787 |
Schedule of Financing Receivable and Allowances Individually Evaluated [Table Text Block] | September 30, 2023 January 1, 2023 Loan Balance Specific Allocations Loan Balance Specific Allocations (Dollars in thousands) Real Estate Loans: Commercial $ 4,877 $ - $ 3,008 $ 1,915 Construction 2,350 528 1,424 513 Residential 1,567 - 1,558 3 Total Real Estate Loans 8,794 528 5,990 2,431 Commercial - - 6,096 1,779 Consumer and Other - - - - Total $ 8,794 $ 528 $ 12,086 $ 4,210 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2023 Criticized Pass Special Mention Substandard Doubtful Loss Current Period Charge- (Risk Grade 10-45) (Risk Grade 50) (Risk Grade 60) (Risk Grade 70) (Risk Grade 80) Total offs (Dollars in thousands) Real Estate: Commercial Originated in 2023 $ 165,134 $ - $ 86 $ - $ - $ 165,220 $ - Originated in 2022 733,458 1,699 - - - 735,157 - Originated in 2021 423,682 6,150 71 - - 429,903 357 Originated in 2020 154,433 3,573 10 - - 158,016 - Originated in 2019 148,044 9,774 382 937 - 159,137 1,447 Originated Prior to 2019 382,109 8,138 10,187 472 - 400,906 23 Revolving 80,333 - 183 - - 80,516 - Revolving Loans Converted to Term - - - - - - - Total Real Estate: Commercial $ 2,087,193 $ 29,334 $ 10,919 $ 1,409 $ - $ 2,128,855 $ 1,827 Real Estate: Construction Originated in 2023 $ 105,036 $ - $ - $ - $ - $ 105,036 $ - Originated in 2022 360,157 - 214 - - 360,371 - Originated in 2021 105,193 - 1,270 - - 106,463 - Originated in 2020 35,309 31 - - - 35,340 - Originated in 2019 20,796 - 1,718 - - 22,514 1 Originated Prior to 2019 21,460 421 351 345 - 22,577 - Revolving 56,534 - - - - 56,534 - Revolving Loans Converted to Term - - - - - - - Total Real Estate: Construction $ 704,485 $ 452 $ 3,553 $ 345 $ - $ 708,835 $ 1 Real Estate: Residential Originated in 2023 $ 52,118 $ 33 $ - $ - $ - $ 52,151 $ - Originated in 2022 173,486 435 275 15 - 174,211 - Originated in 2021 108,118 - 715 - - 108,833 11 Originated in 2020 70,187 386 652 63 - 71,288 1 Originated in 2019 60,872 124 944 123 - 62,063 22 Originated Prior to 2019 103,755 1,248 5,811 325 - 111,139 7 Revolving 106,827 - 389 - - 107,216 1 Revolving Loans Converted to Term 20 - - - - 20 - Total Real Estate: Residential $ 675,383 $ 2,226 $ 8,786 $ 526 $ - $ 686,921 $ 42 Commercial Originated in 2023 $ 232,137 $ 278 $ 9 $ - $ - $ 232,424 $ - Originated in 2022 282,674 272 897 - - 283,843 97 Originated in 2021 148,156 5,599 913 16 - 154,684 15 Originated in 2020 57,448 4,064 1,004 44 - 62,560 27 Originated in 2019 34,623 544 707 250 - 36,124 1,453 Originated Prior to 2019 62,637 4,029 3,318 269 - 70,253 613 Revolving 489,138 2,953 377 28 - 492,496 202 Revolving Loans Converted to Term - - - - - - - Total Commercial $ 1,306,813 $ 17,739 $ 7,225 $ 607 $ - $ 1,332,384 $ 2,407 Consumer and Other Originated in 2023 $ 9,230 $ - $ - $ - $ - $ 9,230 $ 8 Originated in 2022 8,157 - 46 - - 8,203 28 Originated in 2021 4,241 - 54 - - 4,295 25 Originated in 2020 2,199 - 94 - - 2,293 11 Originated in 2019 2,525 - 46 - - 2,571 18 Originated Prior to 2019 2,968 - 101 - - 3,069 58 Revolving 33,331 - 162 - - 33,493 965 Revolving Loans Converted to Term 124 - - - - 124 - Total Consumer and Other $ 62,775 $ - $ 503 $ - $ - $ 63,278 $ 1,113 Total Loans $ 4,836,649 $ 49,751 $ 30,986 $ 2,887 $ - $ 4,920,273 $ 5,390 December 31, 2022 Pass Special Mention Substandard Doubtful (Risk Grade 10-45) (Risk Grade 50) (Risk Grade 60) (Risk Grade 70) Total (Dollars in thousands) Real Estate Loans: Commercial $ 1,972,611 $ 35,054 $ 10,478 $ 2,263 $ 2,020,406 Construction 716,071 3,496 2,157 350 722,074 Residential 643,763 3,780 7,925 910 656,378 Total Real Estate Loans 3,332,445 42,330 20,560 3,523 3,398,858 Commercial 1,137,555 6,646 6,960 2,712 1,153,873 Consumer and Other 53,041 - 404 - 53,445 Total $ 4,523,041 $ 48,976 $ 27,924 $ 6,235 $ 4,606,176 |
Financing Receivable, Past Due [Table Text Block] | September 30, 2023 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Commercial $ 468 $ 1,995 $ 3,739 $ 6,202 $ 2,122,653 $ 2,128,855 $ 127 Construction 365 624 2,993 3,982 704,853 708,835 117 Residential 2,237 324 4,115 6,676 680,245 686,921 - Total Real Estate Loans 3,070 2,943 10,847 16,860 3,507,751 3,524,611 244 Commercial 4,678 420 1,241 6,339 1,326,045 1,332,384 - Consumer and Other 276 59 210 545 62,733 63,278 3 Total $ 8,024 $ 3,422 $ 12,298 $ 23,744 $ 4,896,529 $ 4,920,273 $ 247 December 31, 2022 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Commercial $ 1,491 $ 210 $ 1,681 $ 3,382 $ 2,017,024 $ 2,020,406 $ 98 Construction 320 41 638 999 721,075 722,074 - Residential 1,590 423 1,781 3,794 652,584 656,378 - Total Real Estate Loans 3,401 674 4,100 8,175 3,390,683 3,398,858 98 Commercial 1,183 1,934 2,186 5,303 1,148,570 1,153,873 222 Consumer and Other 295 28 182 505 52,940 53,445 15 Total $ 4,879 $ 2,636 $ 6,468 $ 13,983 $ 4,592,193 $ 4,606,176 $ 335 |
Financing Receivable, Nonaccrual [Table Text Block] | September 30, January 1, December 31, 2023 2023 2022 (Dollars in thousands) Real Estate Loans: Commercial $ 4,009 $ 5,847 $ 2,644 Construction 3,161 2,421 992 Residential 7,277 6,518 4,080 Total Real Estate Loans 14,447 14,786 7,716 Commercial 1,338 3,045 3,150 Consumer and Other 244 257 188 Total $ 16,029 $ 18,088 $ 11,054 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | (Dollars in thousands) October 1, 2023 through September 30, 2024 $ 3,985 October 1, 2024 through September 30, 2025 3,294 October 1, 2025 through September 30, 2026 2,527 October 1, 2026 through September 30, 2027 2,356 October 1, 2027 through September 30, 2028 2,134 October 1, 2028 and Thereafter 4,067 Total Future Minimum Lease Payments 18,363 Less Imputed Interest (1,669 ) Present Value of Lease Liabilities $ 16,694 |
Note 13 - Fair Value of Finan_2
Note 13 - Fair Value of Financial Instruments - (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2023 Available for Sale: U.S. Treasury Securities $ 30,173 $ - $ 30,173 $ - U.S. Government Agency Securities 47,475 - 47,475 - Corporate Securities 42,574 - 42,574 - Mortgage-Backed Securities 431,712 - 431,712 - Municipal Securities 297,770 - 297,770 - Loans Held for Sale 652 - 652 - Total $ 850,356 $ - $ 850,356 $ - December 31, 2022 Available for Sale: U.S. Treasury Securities $ 30,115 $ - $ 30,115 $ - U.S. Government Agency Securities 47,372 - 47,372 - Corporate Securities 46,004 - 27,004 19,000 Mortgage-Backed Securities 451,725 - 451,725 - Municipal Securities 315,535 - 280,767 34,768 Loans Held for Sale 304 - 304 - Total $ 891,055 $ - $ 837,287 $ 53,768 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2023 Assets: Impaired Loans $ 8,794 $ - $ - $ 8,794 Servicing Rights 2,216 - 2,216 - Other Nonperforming Assets 1,558 - - 1,558 Total $ 12,568 $ - $ 2,216 $ 10,352 December 31, 2022 Assets: Impaired Loans $ 16,816 $ - $ - $ 16,816 Servicing Rights 2,327 - 2,327 - Other Nonperforming Assets 1,434 - - 1,434 Total $ 20,577 $ - $ 2,327 $ 18,250 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) September 30, 2023 Financial Assets: Cash and Short-Term Investments $ 388,077 $ 388,077 $ 388,077 $ - $ - Securities 849,704 849,704 - 849,704 - Loans Held for Sale 652 652 - 652 - Loans - Net 4,879,144 4,737,488 - - 4,737,488 Servicing Rights 1,267 2,216 - 2,216 - Cash Value of BOLI 95,906 95,906 - 95,906 - Other Equity Securities 32,591 32,591 - - 32,591 Total $ 6,247,341 $ 6,106,634 $ 388,077 $ 948,478 $ 4,770,079 Financial Liabilities: Deposits $ 5,190,723 $ 5,182,806 $ - $ - $ 5,182,806 Borrowings 642,486 615,349 - 615,349 - Total $ 5,833,209 $ 5,798,155 $ - $ 615,349 $ 5,182,806 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2022 Financial Assets: Cash and Short-Term Investments $ 168,346 $ 168,346 $ 168,346 $ - $ - Securities 890,751 890,751 - 836,983 53,768 Loans Held for Sale 304 304 - 304 - Loans - Net 4,567,998 4,443,577 - - 4,443,577 Servicing Rights 1,712 2,327 - 2,327 - Cash Value of BOLI 91,958 91,958 - 91,958 - Other Equity Securities 37,467 37,467 - - 37,467 Total $ 5,758,536 $ 5,634,730 $ 168,346 $ 931,572 $ 4,534,812 Financial Liabilities: Deposits $ 4,820,345 $ 4,810,263 $ - $ - $ 4,810,263 Borrowings 560,123 544,564 - 544,564 - Total $ 5,380,468 $ 5,354,827 $ - $ 544,564 $ 4,810,263 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation - (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 |
Retained Earnings (Accumulated Deficit) | $ 205,207 | $ 163,955 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Retained Earnings (Accumulated Deficit) | $ (827,000,000) |
Note 3 - Mergers and Acquisit_3
Note 3 - Mergers and Acquisitions - (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Mar. 01, 2022 | Sep. 30, 2023 | Dec. 31, 2022 | Feb. 28, 2022 | |
Assets, Total | $ 6,488,781,000 | $ 5,990,460,000 | ||
Financing Receivable, after Allowance for Credit Loss, Total | 4,879,144,000 | 4,567,998,000 | ||
Deposits, Total | $ 5,190,723,000 | 4,820,345,000 | ||
Core Deposits [Member] | ||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||
Texas Citizens Bancorp [Member] | ||||
Assets, Total | $ 534,200,000 | |||
Financing Receivable, after Allowance for Credit Loss, Total | 349,500,000 | |||
Deposits, Total | $ 477,200,000 | |||
Business Combination, Acquisition Related Costs | $ 173,000 | $ 5,200,000 | ||
Texas Citizens Bancorp [Member] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 2,069,532 |
Note 3 - Mergers and Acquisit_4
Note 3 - Mergers and Acquisitions - Schedule of Identifiable Assets Purchased and Liabilities Assumed (Details) - USD ($) $ / shares in Units, $ in Thousands | Mar. 01, 2022 | Sep. 30, 2023 | Dec. 31, 2022 | Feb. 28, 2022 |
Net Assets Acquired: | ||||
Goodwill Resulting from Merger | $ 88,391 | $ 88,543 | ||
Texas Citizens Bancorp [Member] | ||||
Shares Issued to TCBI's Shareholders on March 1, 2022 (in shares) | 2,069,532 | |||
Closing Stock Price on February 28, 2022 (in dollars per share) | $ 26.19 | |||
Total Stock Issued | $ 54,201 | |||
Other Consideration, Including Equity Awards | 842 | |||
Total Purchase Price | 55,043 | |||
Net Assets Acquired: | ||||
Cash and Cash Equivalents | 163,460 | |||
Securities Available for Sale | 370 | |||
Loans and Leases Receivable | 338,027 | |||
Premises and Equipment, Net | 2,776 | |||
Cash Value of Life Insurance | 12,146 | |||
Core Deposit Intangible | 3,875 | |||
Other Assets | 14,731 | |||
Total Assets | 535,385 | |||
Deposits | 477,277 | |||
Borrowings | 30,708 | |||
Other Liabilities | 1,006 | |||
Total Liabilities | 508,991 | |||
Net Assets Acquired | 26,394 | |||
Goodwill Resulting from Merger | $ 28,649 |
Note 4 - Earnings Per Common _3
Note 4 - Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net Income | $ 20,455 | $ 13,800 | $ 55,219 | $ 36,288 |
Preferred Stock Dividends | 1,351 | 0 | 4,051 | 0 |
Net Income Available to Common Shareholders | $ 19,104 | $ 13,800 | $ 51,168 | $ 36,288 |
Weighted Average Common Shares Outstanding (in shares) | 25,111,548 | 22,468,939 | 25,064,856 | 21,990,273 |
Dilutive Effect of Stock Options and RSAs (in shares) | 177,112 | 181,701 | 217,052 | 173,679 |
Weighted Average Dilutive Common Shares (in shares) | 25,288,660 | 22,650,640 | 25,281,908 | 22,163,952 |
Basic Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.76 | $ 0.61 | $ 2.04 | $ 1.65 |
Diluted Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.76 | $ 0.61 | $ 2.02 | $ 1.64 |
Note 5 - Securities - (Details
Note 5 - Securities - (Details Textual) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss | $ 3.8 | $ 4.4 |
Asset Pledged as Collateral [Member] | Public Deposit and Repurchase Agreements [Member] | ||
Securities Held as Collateral, at Fair Value | 368.1 | |
Asset Pledged as Collateral [Member] | Bank Term Funding Program Facility [Member] | ||
Securities Held as Collateral, at Fair Value | $ 375.6 |
Note 5 - Securities - Securitie
Note 5 - Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-Sale, Amortized Cost | $ 968,498 | $ 985,599 |
Gross unrealized gains | 1 | 303 |
Gross unrealized losses | 118,795 | 95,151 |
Fair value | 849,704 | 890,751 |
US Treasury Securities [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 32,704 | 32,783 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 2,531 | 2,668 |
Fair value | 30,173 | 30,115 |
US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 50,237 | 50,288 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 2,762 | 2,916 |
Fair value | 47,475 | 47,372 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 49,405 | 48,475 |
Gross unrealized gains | 0 | 25 |
Gross unrealized losses | 6,831 | 2,496 |
Fair value | 42,574 | 46,004 |
Collateralized Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 497,388 | 506,671 |
Gross unrealized gains | 0 | 267 |
Gross unrealized losses | 65,676 | 55,213 |
Fair value | 431,712 | 451,725 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 338,764 | 347,382 |
Gross unrealized gains | 1 | 11 |
Gross unrealized losses | 40,995 | 31,858 |
Fair value | $ 297,770 | $ 315,535 |
Note 5 - Securities - Securit_2
Note 5 - Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Less than 12 months, fair value | $ 101,796 | $ 312,398 |
Less than 12 months, gross unrealized losses | 10,453 | 20,007 |
12 months or greater, fair value | 735,640 | 505,752 |
12 months or greater, gross unrealized losses | 108,342 | 75,144 |
Total, fair value | 837,436 | 818,150 |
Total, gross unrealized losses | 118,795 | 95,151 |
US Treasury Securities [Member] | ||
Less than 12 months, fair value | 0 | 9,702 |
Less than 12 months, gross unrealized losses | 0 | 374 |
12 months or greater, fair value | 30,173 | 20,413 |
12 months or greater, gross unrealized losses | 2,531 | 2,294 |
Total, fair value | 30,173 | 30,115 |
Total, gross unrealized losses | 2,531 | 2,668 |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, fair value | 0 | 24,405 |
Less than 12 months, gross unrealized losses | 0 | 595 |
12 months or greater, fair value | 47,475 | 22,967 |
12 months or greater, gross unrealized losses | 2,762 | 2,321 |
Total, fair value | 47,475 | 47,372 |
Total, gross unrealized losses | 2,762 | 2,916 |
Corporate Debt Securities [Member] | ||
Less than 12 months, fair value | 18,896 | 19,564 |
Less than 12 months, gross unrealized losses | 3,012 | 1,359 |
12 months or greater, fair value | 23,678 | 6,385 |
12 months or greater, gross unrealized losses | 3,819 | 1,137 |
Total, fair value | 42,574 | 25,949 |
Total, gross unrealized losses | 6,831 | 2,496 |
Collateralized Mortgage-Backed Securities [Member] | ||
Less than 12 months, fair value | 33,496 | 115,692 |
Less than 12 months, gross unrealized losses | 2,461 | 7,473 |
12 months or greater, fair value | 388,178 | 324,043 |
12 months or greater, gross unrealized losses | 63,215 | 47,740 |
Total, fair value | 421,674 | 439,735 |
Total, gross unrealized losses | 65,676 | 55,213 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 49,404 | 143,035 |
Less than 12 months, gross unrealized losses | 4,980 | 10,206 |
12 months or greater, fair value | 246,136 | 131,944 |
12 months or greater, gross unrealized losses | 36,015 | 21,652 |
Total, fair value | 295,540 | 274,979 |
Total, gross unrealized losses | $ 40,995 | $ 31,858 |
Note 5 - Securities - Securit_3
Note 5 - Securities - Securities Available-for-sale by Contractual Maturity (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Less Than One Year, Amortized Cost | $ 30,310 |
Less Than One Year, Fair Value | 29,775 |
One to Five Years, Amortized Cost | 238,059 |
One to Five Years, Fair Value | 219,241 |
Over Five to Ten Years, Amortized Cost | 354,881 |
Over Five to Ten Years, Fair Value | 308,571 |
Over Ten Years, Amortized Cost | 345,248 |
Over Ten Years, Fair Value | 292,117 |
Amortized Cost | 968,498 |
Fair Value | $ 849,704 |
Note 6 - Loans and the Allowa_3
Note 6 - Loans and the Allowance for Loan Losses - (Details Textual) - USD ($) | Sep. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 |
Financing Receivable, Unamortized Loan Cost (Fee) | $ 12,800,000 | $ 13,100,000 | |
Loans and Leases Receivable Reclassified from Overdraft | 1,200,000 | 2,000,000 | |
Loan, Securitized or Asset-Backed Financing Arrangement, Principal Outstanding | 727,400,000 | 683,300,000 | |
Servicing Asset | 1,300,000 | 1,700,000 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 247,000 | 335,000 | |
Financing Receivable, Nonaccrual | 16,029,000 | $ 18,088,000 | 11,054,000 |
Financing Receivable Accrued Interest Receivable, Loans Deferrals | 4,500,000 | 5,400,000 | |
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | $ 24,300,000 | $ 21,200,000 | |
Financial Asset Acquired with Credit Deterioration [Member] | |||
Financing Receivable, Nonaccrual, Purchased Credit Deteriorated | $ 7,000,000 |
Note 6 - Loans and the Allowa_4
Note 6 - Loans and the Allowance for Loan Losses - Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Loans | $ 4,920,273 | $ 4,606,176 | |
Allowance for Loan Losses | (41,129) | (38,178) | $ (29,112) |
Net Loans | 4,879,144 | 4,567,998 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 3,524,611 | 3,398,858 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Loans | 2,128,855 | 2,020,406 | |
Allowance for Loan Losses | (18,489) | (14,702) | (10,515) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans | 708,835 | 722,074 | |
Allowance for Loan Losses | (8,175) | (5,768) | (4,498) |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Loans | 686,921 | 656,378 | |
Allowance for Loan Losses | (5,397) | (5,354) | (4,565) |
Commercial Portfolio Segment [Member] | |||
Loans | 1,332,384 | 1,153,873 | |
Allowance for Loan Losses | (8,656) | (11,721) | (9,016) |
Consumer Portfolio Segment [Member] | |||
Loans | 63,278 | 53,445 | |
Allowance for Loan Losses | $ (412) | $ (633) | $ (518) |
Note 6 - Loans and the Allowa_5
Note 6 - Loans and the Allowance for Loan Losses - Allowance for Credit Losses and Recorded Investment in Loans Receivable (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2022 | Jan. 01, 2023 | |
Beginning Balance, allowance for loan losses | $ 38,178,000 | $ 29,112,000 | |
Charge-offs | (5,390,000) | (2,821,000) | |
Recoveries | 892,000 | 1,001,000 | |
Provision | 4,789,000 | 10,886,000 | |
Ending Balance, allowance for loan losses | 41,129,000 | 38,178,000 | |
Beginning Balance, unfunded loan commitments | 605,000 | ||
Provision | (425,000) | ||
Ending Balance, unfunded loan commitments | 3,377,000 | 605,000 | |
Total Allowance for Credit Losses | 44,506,000 | ||
Specific allocations | 528,000 | 2,214,000 | $ 4,210,000 |
Collectively Evaluated for Impairment | 35,964,000 | ||
Purchased Credit Impaired | 41,129,000 | 38,178,000 | |
Ending Balance | 4,920,273,000 | 4,606,176,000 | |
Loans balance | 8,794,000 | 14,707,000 | 12,086,000 |
Collectively Evaluated for Impairment | 4,541,682,000 | ||
Financial Asset Acquired with Credit Deterioration [Member] | |||
Beginning Balance, allowance for loan losses | 0 | ||
Ending Balance, allowance for loan losses | 0 | ||
Purchased Credit Impaired | 0 | ||
Ending Balance | 49,787,000 | ||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning Balance, allowance for loan losses | 2,660,000 | ||
Ending Balance, allowance for loan losses | 2,660,000 | ||
Beginning Balance, unfunded loan commitments | 3,197,000 | ||
Ending Balance, unfunded loan commitments | 3,197,000 | ||
Purchased Credit Impaired | 2,660,000 | ||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Beginning Balance, allowance for loan losses | 40,838,000 | ||
Ending Balance, allowance for loan losses | 40,838,000 | ||
Beginning Balance, unfunded loan commitments | 3,802,000 | ||
Ending Balance, unfunded loan commitments | 3,802,000 | ||
Purchased Credit Impaired | 40,838,000 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Ending Balance | 3,524,611,000 | 3,398,858,000 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Beginning Balance, allowance for loan losses | 14,702,000 | 10,515,000 | |
Charge-offs | (1,827,000) | (51,000) | |
Recoveries | 21,000 | 50,000 | |
Provision | 770,000 | 4,188,000 | |
Ending Balance, allowance for loan losses | 18,489,000 | 14,702,000 | |
Beginning Balance, unfunded loan commitments | 220,000 | ||
Provision | 7,000 | ||
Ending Balance, unfunded loan commitments | 343,000 | 220,000 | |
Total Allowance for Credit Losses | 18,832,000 | ||
Specific allocations | 0 | 59,000 | 1,915,000 |
Collectively Evaluated for Impairment | 14,643,000 | ||
Purchased Credit Impaired | 18,489,000 | 14,702,000 | |
Ending Balance | 2,128,855,000 | 2,020,406,000 | |
Loans balance | 4,877,000 | 3,053,000 | 3,008,000 |
Collectively Evaluated for Impairment | 1,989,831,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Beginning Balance, allowance for loan losses | 0 | ||
Ending Balance, allowance for loan losses | 0 | ||
Purchased Credit Impaired | 0 | ||
Ending Balance | 27,522,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning Balance, allowance for loan losses | 4,823,000 | ||
Ending Balance, allowance for loan losses | 4,823,000 | ||
Beginning Balance, unfunded loan commitments | 116,000 | ||
Ending Balance, unfunded loan commitments | 116,000 | ||
Purchased Credit Impaired | 4,823,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Beginning Balance, allowance for loan losses | 19,525,000 | ||
Ending Balance, allowance for loan losses | 19,525,000 | ||
Beginning Balance, unfunded loan commitments | 336,000 | ||
Ending Balance, unfunded loan commitments | 336,000 | ||
Purchased Credit Impaired | 19,525,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Beginning Balance, allowance for loan losses | 5,768,000 | 4,498,000 | |
Charge-offs | (1,000) | (16,000) | |
Recoveries | 1,000 | 25,000 | |
Provision | 1,474,000 | 1,261,000 | |
Ending Balance, allowance for loan losses | 8,175,000 | 5,768,000 | |
Beginning Balance, unfunded loan commitments | 137,000 | ||
Provision | (556,000) | ||
Ending Balance, unfunded loan commitments | 1,694,000 | 137,000 | |
Total Allowance for Credit Losses | 9,869,000 | ||
Specific allocations | 21,000 | ||
Collectively Evaluated for Impairment | 5,747,000 | ||
Purchased Credit Impaired | 8,175,000 | 5,768,000 | |
Ending Balance | 708,835,000 | 722,074,000 | |
Loans balance | 992,000 | ||
Collectively Evaluated for Impairment | 720,129,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Beginning Balance, allowance for loan losses | 0 | ||
Ending Balance, allowance for loan losses | 0 | ||
Purchased Credit Impaired | 0 | ||
Ending Balance | 953,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning Balance, allowance for loan losses | 933,000 | ||
Ending Balance, allowance for loan losses | 933,000 | ||
Beginning Balance, unfunded loan commitments | 2,113,000 | ||
Ending Balance, unfunded loan commitments | 2,113,000 | ||
Purchased Credit Impaired | 933,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Beginning Balance, allowance for loan losses | 6,701,000 | ||
Ending Balance, allowance for loan losses | 6,701,000 | ||
Beginning Balance, unfunded loan commitments | 2,250,000 | ||
Ending Balance, unfunded loan commitments | 2,250,000 | ||
Purchased Credit Impaired | 6,701,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Beginning Balance, allowance for loan losses | 5,354,000 | 4,565,000 | |
Charge-offs | (42,000) | (191,000) | |
Recoveries | 9,000 | 20,000 | |
Provision | 441,000 | 960,000 | |
Ending Balance, allowance for loan losses | 5,397,000 | 5,354,000 | |
Beginning Balance, unfunded loan commitments | 13,000 | ||
Provision | 32,000 | ||
Ending Balance, unfunded loan commitments | 235,000 | 13,000 | |
Total Allowance for Credit Losses | 5,632,000 | ||
Specific allocations | 99,000 | ||
Collectively Evaluated for Impairment | 5,255,000 | ||
Purchased Credit Impaired | 5,397,000 | 5,354,000 | |
Ending Balance | 686,921,000 | 656,378,000 | |
Loans balance | 4,028,000 | ||
Collectively Evaluated for Impairment | 637,195,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Beginning Balance, allowance for loan losses | 0 | ||
Ending Balance, allowance for loan losses | 0 | ||
Purchased Credit Impaired | 0 | ||
Ending Balance | 15,155,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning Balance, allowance for loan losses | (365,000) | ||
Ending Balance, allowance for loan losses | (365,000) | ||
Beginning Balance, unfunded loan commitments | 190,000 | ||
Ending Balance, unfunded loan commitments | 190,000 | ||
Purchased Credit Impaired | (365,000) | ||
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Beginning Balance, allowance for loan losses | 4,989,000 | ||
Ending Balance, allowance for loan losses | 4,989,000 | ||
Beginning Balance, unfunded loan commitments | 203,000 | ||
Ending Balance, unfunded loan commitments | 203,000 | ||
Purchased Credit Impaired | 4,989,000 | ||
Commercial Portfolio Segment [Member] | |||
Beginning Balance, allowance for loan losses | 11,721,000 | 9,016,000 | |
Charge-offs | (2,407,000) | (2,139,000) | |
Recoveries | 655,000 | 739,000 | |
Provision | 1,170,000 | 4,105,000 | |
Ending Balance, allowance for loan losses | 8,656,000 | 11,721,000 | |
Beginning Balance, unfunded loan commitments | 229,000 | ||
Provision | 195,000 | ||
Ending Balance, unfunded loan commitments | 1,081,000 | 229,000 | |
Total Allowance for Credit Losses | 9,737,000 | ||
Specific allocations | 0 | 2,020,000 | 1,779,000 |
Collectively Evaluated for Impairment | 9,701,000 | ||
Purchased Credit Impaired | 8,656,000 | 11,721,000 | |
Ending Balance | 1,332,384,000 | 1,153,873,000 | |
Loans balance | 0 | 6,442,000 | 6,096,000 |
Collectively Evaluated for Impairment | 1,141,957,000 | ||
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Beginning Balance, allowance for loan losses | 0 | ||
Ending Balance, allowance for loan losses | 0 | ||
Purchased Credit Impaired | 0 | ||
Ending Balance | 5,474,000 | ||
Commercial Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning Balance, allowance for loan losses | (2,483,000) | ||
Ending Balance, allowance for loan losses | (2,483,000) | ||
Beginning Balance, unfunded loan commitments | 657,000 | ||
Ending Balance, unfunded loan commitments | 657,000 | ||
Purchased Credit Impaired | (2,483,000) | ||
Commercial Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Beginning Balance, allowance for loan losses | 9,238,000 | ||
Ending Balance, allowance for loan losses | 9,238,000 | ||
Beginning Balance, unfunded loan commitments | 886,000 | ||
Ending Balance, unfunded loan commitments | 886,000 | ||
Purchased Credit Impaired | 9,238,000 | ||
Consumer Portfolio Segment [Member] | |||
Beginning Balance, allowance for loan losses | 633,000 | 518,000 | |
Charge-offs | (1,113,000) | (424,000) | |
Recoveries | 206,000 | 167,000 | |
Provision | 934,000 | 372,000 | |
Ending Balance, allowance for loan losses | 412,000 | 633,000 | |
Beginning Balance, unfunded loan commitments | 6,000 | ||
Provision | (103,000) | ||
Ending Balance, unfunded loan commitments | 24,000 | 6,000 | |
Total Allowance for Credit Losses | 436,000 | ||
Specific allocations | 0 | 15,000 | 0 |
Collectively Evaluated for Impairment | 618,000 | ||
Purchased Credit Impaired | 412,000 | 633,000 | |
Ending Balance | 63,278,000 | 53,445,000 | |
Loans balance | 0 | 192,000 | $ 0 |
Collectively Evaluated for Impairment | 52,570,000 | ||
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Beginning Balance, allowance for loan losses | 0 | ||
Ending Balance, allowance for loan losses | 0 | ||
Purchased Credit Impaired | 0 | ||
Ending Balance | 683,000 | ||
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning Balance, allowance for loan losses | (248,000) | ||
Ending Balance, allowance for loan losses | (248,000) | ||
Beginning Balance, unfunded loan commitments | 121,000 | ||
Ending Balance, unfunded loan commitments | 121,000 | ||
Purchased Credit Impaired | (248,000) | ||
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Beginning Balance, allowance for loan losses | 385,000 | ||
Ending Balance, allowance for loan losses | 385,000 | ||
Beginning Balance, unfunded loan commitments | $ 127,000 | ||
Ending Balance, unfunded loan commitments | 127,000 | ||
Purchased Credit Impaired | $ 385,000 |
Note 6 - Loans and the Allowa_6
Note 6 - Loans and the Allowance for Loan Losses - Individually Evaluated Loans and Allowance (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 |
Loans balance | $ 8,794 | $ 12,086 | $ 14,707 |
Specific allocations | 528 | 4,210 | 2,214 |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Loans balance | 4,877 | 3,008 | 3,053 |
Specific allocations | 0 | 1,915 | 59 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||
Loans balance | 2,350 | 1,424 | |
Specific allocations | 528 | 513 | |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Loans balance | 4,028 | ||
Specific allocations | 99 | ||
Residential Portfolio Segment [Member] | Residential [Member] | |||
Loans balance | 1,567 | 1,558 | |
Specific allocations | 0 | 3 | |
Real Estate Portfolio Segment [Member] | |||
Loans balance | 8,794 | 5,990 | |
Specific allocations | 528 | 2,431 | |
Commercial Portfolio Segment [Member] | |||
Loans balance | 0 | 6,096 | 6,442 |
Specific allocations | 0 | 1,779 | 2,020 |
Consumer Portfolio Segment [Member] | |||
Loans balance | 0 | 0 | 192 |
Specific allocations | $ 0 | $ 0 | $ 15 |
Note 6 - Loans and the Allowa_7
Note 6 - Loans and the Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Loans | $ 4,920,273 | $ 4,606,176 |
Total allowance, write off | 5,390 | 2,821 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 3,524,611 | 3,398,858 |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Total loan, current year | 165,220 | |
Write off, current year | 0 | |
Total loan, one year before | 735,157 | |
Write off, one year before | 0 | |
Total loan, two years before | 429,903 | |
Write off, two years before | 357 | |
Total loan, three years before | 158,016 | |
Write off, three years before | 0 | |
Total loan, four years before | 159,137 | |
Write off, four years before | 1,447 | |
Total loan, prior | 400,906 | |
Write off, prior | 23 | |
Total loan, Revolving | 80,516 | |
Revolving, write off | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Revolving Loans Converted to Term, write off | 0 | |
Loans | 2,128,855 | 2,020,406 |
Total allowance, write off | 1,827 | 51 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Total loan, current year | 105,036 | |
Write off, current year | 0 | |
Total loan, one year before | 360,371 | |
Write off, one year before | 0 | |
Total loan, two years before | 106,463 | |
Write off, two years before | 0 | |
Total loan, three years before | 35,340 | |
Write off, three years before | 0 | |
Total loan, four years before | 22,514 | |
Write off, four years before | 1 | |
Total loan, prior | 22,577 | |
Write off, prior | 0 | |
Total loan, Revolving | 56,534 | |
Revolving, write off | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Revolving Loans Converted to Term, write off | 0 | |
Loans | 708,835 | 722,074 |
Total allowance, write off | 1 | 16 |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Total loan, current year | 52,151 | |
Write off, current year | 0 | |
Total loan, one year before | 174,211 | |
Write off, one year before | 0 | |
Total loan, two years before | 108,833 | |
Write off, two years before | 11 | |
Total loan, three years before | 71,288 | |
Write off, three years before | 1 | |
Total loan, four years before | 62,063 | |
Write off, four years before | 22 | |
Total loan, prior | 111,139 | |
Write off, prior | 7 | |
Total loan, Revolving | 107,216 | |
Revolving, write off | 1 | |
Total loan, Revolving Loans Converted to Term | 20 | |
Revolving Loans Converted to Term, write off | 0 | |
Loans | 686,921 | 656,378 |
Total allowance, write off | 42 | 191 |
Commercial Portfolio Segment [Member] | ||
Total loan, current year | 232,424 | |
Write off, current year | 0 | |
Total loan, one year before | 283,843 | |
Write off, one year before | 97 | |
Total loan, two years before | 154,684 | |
Write off, two years before | 15 | |
Total loan, three years before | 62,560 | |
Write off, three years before | 27 | |
Total loan, four years before | 36,124 | |
Write off, four years before | 1,453 | |
Total loan, prior | 70,253 | |
Write off, prior | 613 | |
Total loan, Revolving | 492,496 | |
Revolving, write off | 202 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Revolving Loans Converted to Term, write off | 0 | |
Loans | 1,332,384 | 1,153,873 |
Total allowance, write off | 2,407 | 2,139 |
Consumer Portfolio Segment [Member] | ||
Total loan, current year | 9,230 | |
Write off, current year | 8 | |
Total loan, one year before | 8,203 | |
Write off, one year before | 28 | |
Total loan, two years before | 4,295 | |
Write off, two years before | 25 | |
Total loan, three years before | 2,293 | |
Write off, three years before | 11 | |
Total loan, four years before | 2,571 | |
Write off, four years before | 18 | |
Total loan, prior | 3,069 | |
Write off, prior | 58 | |
Total loan, Revolving | 33,493 | |
Revolving, write off | 965 | |
Total loan, Revolving Loans Converted to Term | 124 | |
Revolving Loans Converted to Term, write off | 0 | |
Loans | 63,278 | 53,445 |
Total allowance, write off | 1,113 | 424 |
Pass [Member] | ||
Loans | 4,836,649 | 4,523,041 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 3,332,445 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Total loan, current year | 165,134 | |
Total loan, one year before | 733,458 | |
Total loan, two years before | 423,682 | |
Total loan, three years before | 154,433 | |
Total loan, four years before | 148,044 | |
Total loan, prior | 382,109 | |
Total loan, Revolving | 80,333 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 2,087,193 | 1,972,611 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Total loan, current year | 105,036 | |
Total loan, one year before | 360,157 | |
Total loan, two years before | 105,193 | |
Total loan, three years before | 35,309 | |
Total loan, four years before | 20,796 | |
Total loan, prior | 21,460 | |
Total loan, Revolving | 56,534 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 704,485 | 716,071 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Total loan, current year | 52,118 | |
Total loan, one year before | 173,486 | |
Total loan, two years before | 108,118 | |
Total loan, three years before | 70,187 | |
Total loan, four years before | 60,872 | |
Total loan, prior | 103,755 | |
Total loan, Revolving | 106,827 | |
Total loan, Revolving Loans Converted to Term | 20 | |
Loans | 675,383 | 643,763 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Total loan, current year | 232,137 | |
Total loan, one year before | 282,674 | |
Total loan, two years before | 148,156 | |
Total loan, three years before | 57,448 | |
Total loan, four years before | 34,623 | |
Total loan, prior | 62,637 | |
Total loan, Revolving | 489,138 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 1,306,813 | 1,137,555 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Total loan, current year | 9,230 | |
Total loan, one year before | 8,157 | |
Total loan, two years before | 4,241 | |
Total loan, three years before | 2,199 | |
Total loan, four years before | 2,525 | |
Total loan, prior | 2,968 | |
Total loan, Revolving | 33,331 | |
Total loan, Revolving Loans Converted to Term | 124 | |
Loans | 62,775 | 53,041 |
Special Mention [Member] | ||
Loans | 49,751 | 48,976 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 42,330 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 1,699 | |
Total loan, two years before | 6,150 | |
Total loan, three years before | 3,573 | |
Total loan, four years before | 9,774 | |
Total loan, prior | 8,138 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 29,334 | 35,054 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 31 | |
Total loan, four years before | 0 | |
Total loan, prior | 421 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 452 | 3,496 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Total loan, current year | 33 | |
Total loan, one year before | 435 | |
Total loan, two years before | 0 | |
Total loan, three years before | 386 | |
Total loan, four years before | 124 | |
Total loan, prior | 1,248 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 2,226 | 3,780 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Total loan, current year | 278 | |
Total loan, one year before | 272 | |
Total loan, two years before | 5,599 | |
Total loan, three years before | 4,064 | |
Total loan, four years before | 544 | |
Total loan, prior | 4,029 | |
Total loan, Revolving | 2,953 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 17,739 | 6,646 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 0 | |
Total loan, four years before | 0 | |
Total loan, prior | 0 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 0 | 0 |
Substandard [Member] | ||
Loans | 30,986 | 27,924 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 20,560 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Total loan, current year | 86 | |
Total loan, one year before | 0 | |
Total loan, two years before | 71 | |
Total loan, three years before | 10 | |
Total loan, four years before | 382 | |
Total loan, prior | 10,187 | |
Total loan, Revolving | 183 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 10,919 | 10,478 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 214 | |
Total loan, two years before | 1,270 | |
Total loan, three years before | 0 | |
Total loan, four years before | 1,718 | |
Total loan, prior | 351 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 3,553 | 2,157 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 275 | |
Total loan, two years before | 715 | |
Total loan, three years before | 652 | |
Total loan, four years before | 944 | |
Total loan, prior | 5,811 | |
Total loan, Revolving | 389 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 8,786 | 7,925 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Total loan, current year | 9 | |
Total loan, one year before | 897 | |
Total loan, two years before | 913 | |
Total loan, three years before | 1,004 | |
Total loan, four years before | 707 | |
Total loan, prior | 3,318 | |
Total loan, Revolving | 377 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 7,225 | 6,960 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 46 | |
Total loan, two years before | 54 | |
Total loan, three years before | 94 | |
Total loan, four years before | 46 | |
Total loan, prior | 101 | |
Total loan, Revolving | 162 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 503 | 404 |
Doubtful [Member] | ||
Loans | 2,887 | 6,235 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 3,523 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 0 | |
Total loan, four years before | 937 | |
Total loan, prior | 472 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 1,409 | 2,263 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 0 | |
Total loan, four years before | 0 | |
Total loan, prior | 345 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 345 | 350 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 15 | |
Total loan, two years before | 0 | |
Total loan, three years before | 63 | |
Total loan, four years before | 123 | |
Total loan, prior | 325 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 526 | 910 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 16 | |
Total loan, three years before | 44 | |
Total loan, four years before | 250 | |
Total loan, prior | 269 | |
Total loan, Revolving | 28 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 607 | 2,712 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 0 | |
Total loan, four years before | 0 | |
Total loan, prior | 0 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 0 | $ 0 |
Loss [Member] | ||
Loans | 0 | |
Loss [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 0 | |
Total loan, four years before | 0 | |
Total loan, prior | 0 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 0 | |
Loss [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 0 | |
Total loan, four years before | 0 | |
Total loan, prior | 0 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 0 | |
Loss [Member] | Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 0 | |
Total loan, four years before | 0 | |
Total loan, prior | 0 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 0 | |
Loss [Member] | Commercial Portfolio Segment [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 0 | |
Total loan, four years before | 0 | |
Total loan, prior | 0 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | 0 | |
Loss [Member] | Consumer Portfolio Segment [Member] | ||
Total loan, current year | 0 | |
Total loan, one year before | 0 | |
Total loan, two years before | 0 | |
Total loan, three years before | 0 | |
Total loan, four years before | 0 | |
Total loan, prior | 0 | |
Total loan, Revolving | 0 | |
Total loan, Revolving Loans Converted to Term | 0 | |
Loans | $ 0 |
Note 6 - Loans and the Allowa_8
Note 6 - Loans and the Allowance for Loan Losses - Past Due Loans Receivable (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Loans | $ 4,920,273,000 | $ 4,606,176,000 |
Recorded investment over 90 days past due and still accruing | 247,000 | 335,000 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 8,024,000 | 4,879,000 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 3,422,000 | 2,636,000 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 12,298,000 | 6,468,000 |
Financial Asset, Past Due [Member] | ||
Loans | 23,744,000 | 13,983,000 |
Financial Asset, Not Past Due [Member] | ||
Loans | 4,896,529,000 | 4,592,193,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 3,524,611,000 | 3,398,858,000 |
Recorded investment over 90 days past due and still accruing | 244,000 | 98,000 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 3,070,000 | 3,401,000 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 2,943,000 | 674,000 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 10,847,000 | 4,100,000 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 16,860,000 | 8,175,000 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 3,507,751,000 | 3,390,683,000 |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | ||
Loans | 2,128,855,000 | 2,020,406,000 |
Recorded investment over 90 days past due and still accruing | 127,000 | 98,000 |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 468,000 | 1,491,000 |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 1,995,000 | 210,000 |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 3,739,000 | 1,681,000 |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | Financial Asset, Past Due [Member] | ||
Loans | 6,202,000 | 3,382,000 |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 2,122,653,000 | 2,017,024,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 708,835,000 | 722,074,000 |
Recorded investment over 90 days past due and still accruing | 117,000 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 365,000 | 320,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 624,000 | 41,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 2,993,000 | 638,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Past Due [Member] | ||
Loans | 3,982,000 | 999,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 704,853,000 | 721,075,000 |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | ||
Loans | 686,921,000 | 656,378,000 |
Recorded investment over 90 days past due and still accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 2,237,000 | 1,590,000 |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 324,000 | 423,000 |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 4,115,000 | 1,781,000 |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | Financial Asset, Past Due [Member] | ||
Loans | 6,676,000 | 3,794,000 |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 680,245,000 | 652,584,000 |
Commercial Portfolio Segment [Member] | ||
Loans | 1,332,384,000 | 1,153,873,000 |
Recorded investment over 90 days past due and still accruing | 0 | 222,000 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 4,678,000 | 1,183,000 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 420,000 | 1,934,000 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 1,241,000 | 2,186,000 |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 6,339,000 | 5,303,000 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 1,326,045,000 | 1,148,570,000 |
Consumer Portfolio Segment [Member] | ||
Loans | 63,278,000 | 53,445,000 |
Recorded investment over 90 days past due and still accruing | 3,000 | 15,000 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 276,000 | 295,000 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 59,000 | 28,000 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 210,000 | 182,000 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 545,000 | 505,000 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | $ 62,733,000 | $ 52,940,000 |
Note 6 - Loans and the Allowa_9
Note 6 - Loans and the Allowance for Loan Losses - Loan Receivables on Nonaccrual Status (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 |
Loans receivable on nonaccrual status | $ 16,029 | $ 18,088 | $ 11,054 |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable on nonaccrual status | 14,447 | 14,786 | 7,716 |
Commercial Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Loans receivable on nonaccrual status | 4,009 | 5,847 | 2,644 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable on nonaccrual status | 3,161 | 2,421 | 992 |
Commercial Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Loans receivable on nonaccrual status | 7,277 | 6,518 | 4,080 |
Commercial Portfolio Segment [Member] | |||
Loans receivable on nonaccrual status | 1,338 | 3,045 | 3,150 |
Consumer Portfolio Segment [Member] | |||
Loans receivable on nonaccrual status | $ 244 | $ 257 | $ 188 |
Note 7 - Long Term Debt - (Deta
Note 7 - Long Term Debt - (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2023 | Mar. 01, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Gain (Loss) on Extinguishment of Debt, Financing Activities | $ 1,458 | $ 0 | ||
Debt Issued in Connection with the TCBI Acquisition [Member] | ||||
Debt Instrument, Face Amount | $ 26,400 | |||
Debt Issued in Connection with the TCBI Acquisition, Tranche One [Member] | ||||
Debt Instrument, Face Amount | $ 10,000 | |||
Debt Issued in Connection with the TCBI Acquisition, Tranche One [Member] | Base Rate [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.50% | |||
Debt Issued in Connection with the TCBI Acquisition, Tranche Two [Member] | ||||
Debt Instrument, Face Amount | $ 7,500 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.38% | |||
Debt Issued in Connection with the TCBI Acquisition, Tranche Two [Member] | Base Rate [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.50% | |||
Debt Issued in Connection with the TCBI Acquisition, Tranche Three [Member] | ||||
Debt Instrument, Face Amount | $ 8,900 | |||
Gain (Loss) on Extinguishment of Debt, Financing Activities | $ 1,500 | |||
Liabilities, Fair Value Adjustment | $ 1,100 | |||
Debt Issued in Connection with the TCBI Acquisition, Tranche Three [Member] | Base Rate [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 5.95% |
Note 8 - Bank Term Funding Pr_2
Note 8 - Bank Term Funding Program ("BTFP") - (Details Textual) - USD ($) $ in Millions | Mar. 12, 2023 | Sep. 30, 2023 |
Bank Term Funding Program [Member] | Asset Pledged as Collateral [Member] | ||
Securities Held as Collateral, at Fair Value | $ 375.6 | |
Securities Held as Collateral, Remaining Par Value | 413.2 | |
Bank Term Funding Program [Member] | ||
Short-Term Debt | $ 300 | |
Maximum [Member] | Bank Term Funding Program [Member] | ||
Debt Instrument, Term (Year) | 1 year |
Note 9 - Federal Home Loan Ba_2
Note 9 - Federal Home Loan Bank ("FHLB") Borrowing - (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Sep. 30, 2023 | Mar. 31, 2023 | |
Advances from Federal Home Loan Banks, Net of Unaccreted Market Value Adjustment | $ 410,100,000 | $ 214,200,000 | |
Advance from Federal Home Loan Bank | 410,100,000 | 214,184,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 1,600,000,000 | ||
November 2026 [Member] | |||
Federal Home Loan Bank, Advances, Principal Amount | 60,000,000 | ||
Advance from Federal Home Loan Bank | $ 47,200,000 | $ 38,300,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 0.89% | 0.89% | |
April 2025 [Member] | |||
Advance from Federal Home Loan Bank | $ 875,000 | $ 875,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 4.88% | 4.88% | |
October 2023 [Member] | |||
Advance from Federal Home Loan Bank | $ 100,000,000 | $ 100,000,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 3.53% | 3.53% | |
July 2025 [Member] | |||
Advance from Federal Home Loan Bank | $ 25,000,000 | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 4.89% | ||
January 2026 [Member] | |||
Advance from Federal Home Loan Bank | $ 25,000,000 | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 4.65% | ||
July 2026 [Member] | |||
Advance from Federal Home Loan Bank | $ 25,000,000 | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 4.56% | ||
January 2023 [Member] | |||
Debt Instrument, Term (Year) | 7 days | ||
Short-Term Federal Home Loan Bank Advances | $ 262,000,000 | ||
Federal Home Loan Bank, Advances, Short-term, Interest Rate | 4.55% | ||
First Overnight Fixed Rate Loan Due April 2023 [Member] | |||
Short-Term Federal Home Loan Bank Advances | $ 230,000,000 |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Operating Lease, Expense | $ 4.2 | $ 3.6 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 6 years | |
Operating Lease, Weighted Average Discount Rate, Percent | 2.94% | |
Minimum [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 1 year | |
Maximum [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 10 years |
Note 10 - Leases - Future Minim
Note 10 - Leases - Future Minimum Lease Payments (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
October 1, 2023 through September 30, 2024 | $ 3,985 |
October 1, 2024 through September 30, 2025 | 3,294 |
October 1, 2025 through September 30, 2026 | 2,527 |
October 1, 2026 through September 30, 2027 | 2,356 |
October 1, 2027 through September 30, 2028 | 2,134 |
October 1, 2028 and Thereafter | 4,067 |
Total Future Minimum Lease Payments | 18,363 |
Less Imputed Interest | (1,669) |
Other Liabilities [Member] | |
Present Value of Lease Liabilities | $ 16,694 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies - (Details Textual) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Off-Balance-Sheet, Credit Loss, Liability | $ 3,377,000 | $ 605,000 |
Commitments to Extend Credit [Member] | ||
Contractual Obligation | 1,200,000,000 | 1,300,000,000 |
Standby Letters of Credit [Member] | ||
Contractual Obligation | $ 46,500,000 | $ 45,600,000 |
Note 12 - Preferred Stock - (De
Note 12 - Preferred Stock - (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 01, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Preferred Stock, No Par Value (in dollars per share) | $ 0 | $ 0 | $ 0 | |
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 72,000 | $ 0 | $ 72,010 | |
Preferred Stock, Dividend Rate, Percentage | 7.50% | |||
Preferred Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 56.25 | $ 18.75 | ||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||
Preferred Stock, Dividend Rate, Basis Spread on Variable Rate | 4.70% |
Note 13 - Fair Value of Finan_3
Note 13 - Fair Value of Financial Instruments - (Details Textual) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Debt Securities [Member] | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ 29,900 | |
Fair Value, Recurring [Member] | ||
Liabilities, Fair Value Disclosure | 0 | $ 0 |
Fair Value, Nonrecurring [Member] | ||
Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Fair Value, Nonrecurring [Member] | Measurement Input, Cost to Sell [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other Real Estate Owned, Measurement Input | 10 |
Note 13 - Fair Value of Finan_4
Note 13 - Fair Value of Financial Instruments - Assets and Liabilities Measured On a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities available for sale | $ 849,704 | $ 890,751 |
US Treasury Securities [Member] | ||
Securities available for sale | 30,173 | 30,115 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 47,475 | 47,372 |
Corporate Debt Securities [Member] | ||
Securities available for sale | 42,574 | 46,004 |
Collateralized Mortgage-Backed Securities [Member] | ||
Securities available for sale | 431,712 | 451,725 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 297,770 | 315,535 |
Fair Value, Recurring [Member] | ||
Loans Held for Sale | 652 | 304 |
Total | 850,356 | 891,055 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans Held for Sale | 0 | 0 |
Total | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans Held for Sale | 652 | 304 |
Total | 850,356 | 837,287 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans Held for Sale | 0 | 0 |
Total | 0 | 53,768 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Securities available for sale | 30,173 | 30,115 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 30,173 | 30,115 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 47,475 | 47,372 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 47,475 | 47,372 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Securities available for sale | 42,574 | 46,004 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 42,574 | 27,004 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 19,000 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Securities available for sale | 431,712 | 451,725 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 431,712 | 451,725 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 297,770 | 315,535 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 297,770 | 280,767 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | $ 0 | $ 34,768 |
Note 13 - Fair Value of Finan_5
Note 13 - Fair Value of Financial Instruments - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Assets measured on a nonrecurring basis | $ 12,568 | $ 20,577 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 2,216 | 2,327 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | 10,352 | 18,250 |
Impaired Loans [Member] | ||
Assets measured on a nonrecurring basis | 8,794 | 16,816 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | 8,794 | 16,816 |
Servicing Rights [Member] | ||
Assets measured on a nonrecurring basis | 2,216 | 2,327 |
Servicing Rights [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Servicing Rights [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 2,216 | 2,327 |
Servicing Rights [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Other Nonperforming Assets [Member] | ||
Assets measured on a nonrecurring basis | 1,558 | 1,434 |
Other Nonperforming Assets [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Other Nonperforming Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Other Nonperforming Assets [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | $ 1,558 | $ 1,434 |
Note 13 - Fair Value of Finan_6
Note 13 - Fair Value of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financial Assets: | ||
Securities | $ 849,704 | $ 890,751 |
Other Equity Securities | 32,591 | 37,467 |
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 388,077 | 168,346 |
Securities | 849,704 | 890,751 |
Loans Held for Sale | 652 | 304 |
Loans - Net | 4,879,144 | 4,567,998 |
Servicing Rights | 1,267 | 1,712 |
Cash Value of BOLI | 95,906 | 91,958 |
Other Equity Securities | 32,591 | 37,467 |
Total | 6,247,341 | 5,758,536 |
Financial Liabilities: | ||
Deposits | 5,190,723 | 4,820,345 |
Borrowings | 642,486 | 560,123 |
Total | 5,833,209 | 5,380,468 |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 388,077 | 168,346 |
Securities | 849,704 | 890,751 |
Loans Held for Sale | 652 | 304 |
Loans - Net | 4,737,488 | 4,443,577 |
Servicing Rights | 2,216 | 2,327 |
Cash Value of BOLI | 95,906 | 91,958 |
Other Equity Securities | 32,591 | 37,467 |
Total | 6,106,634 | 5,634,730 |
Financial Liabilities: | ||
Deposits | 5,182,806 | 4,810,263 |
Borrowings | 615,349 | 544,564 |
Total | 5,798,155 | 5,354,827 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 388,077 | 168,346 |
Securities | 0 | 0 |
Loans Held for Sale | 0 | 0 |
Loans - Net | 0 | 0 |
Servicing Rights | 0 | 0 |
Cash Value of BOLI | 0 | 0 |
Other Equity Securities | 0 | 0 |
Total | 388,077 | 168,346 |
Financial Liabilities: | ||
Deposits | 0 | 0 |
Borrowings | 0 | 0 |
Total | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 0 | 0 |
Securities | 849,704 | 836,983 |
Loans Held for Sale | 652 | 304 |
Loans - Net | 0 | 0 |
Servicing Rights | 2,216 | 2,327 |
Cash Value of BOLI | 95,906 | 91,958 |
Other Equity Securities | 0 | 0 |
Total | 948,478 | 931,572 |
Financial Liabilities: | ||
Deposits | 0 | 0 |
Borrowings | 615,349 | 544,564 |
Total | 615,349 | 544,564 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 0 | 0 |
Securities | 0 | 53,768 |
Loans Held for Sale | 0 | 0 |
Loans - Net | 4,737,488 | 4,443,577 |
Servicing Rights | 0 | 0 |
Cash Value of BOLI | 0 | 0 |
Other Equity Securities | 32,591 | 37,467 |
Total | 4,770,079 | 4,534,812 |
Financial Liabilities: | ||
Deposits | 5,182,806 | 4,810,263 |
Borrowings | 0 | 0 |
Total | $ 5,182,806 | $ 4,810,263 |
Item 5. Other Information (Deta
Item 5. Other Information (Details Textual) | 9 Months Ended |
Sep. 30, 2023 | |
Rule 10b5-1 Arrangement Adopted [Flag] | False |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | False |
Rule 10b5-1 Arrangement Terminated [Flag] | False |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | False |