Bank First (BFC) 10-K 12 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Mar. 12, 2021	Jun. 30, 2020
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-38676
Entity Registrant Name	Bank First Corp
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1435359
Entity Address, Address Line One	402 North 8th Street
Entity Address, City or Town	Manitowoc
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54220
City Area Code	920
Local Phone Number	652-3100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BFC
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		7,728,598
Entity Central Index Key	0001746109
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 496
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 36,255,000	$ 33,817,000
Interest-bearing deposits	5,195,000	19,242,000
Federal funds sold	128,769,000	33,393,000
Cash and cash equivalents	170,219,000	86,452,000
Securities held to maturity, at amortized cost ($6,688 and $44,803 fair value at December 31, 2020 and 2019, respectively)	6,669,000	43,734,000
Securities available for sale, at fair value	165,039,000	181,506,000
Loans held for sale	809,000	587,000
Loans, net	2,173,802,000	1,724,947,000
Premises and equipment, net	43,183,000	35,286,000
Goodwill	55,472,000	43,456,000
Other investments	8,896,000	4,933,000
Cash value of life insurance	31,394,000	24,945,000
Identifiable intangible assets, net	9,167,000	9,666,000
Other real estate owned ("OREO")	1,885,000	6,888,000
Investment in minority-owned subsidiaries	42,305,000	40,287,000
Other assets	9,176,000	7,481,000
TOTAL ASSETS	2,718,016,000	2,210,168,000
Deposits:
Interest-bearing deposits	1,605,317,000	1,366,846,000
Noninterest-bearing deposits	715,646,000	476,465,000
Total deposits	2,320,963,000	1,843,311,000
Securities sold under repurchase agreements	36,377,000	45,865,000
Notes payable	23,469,000	49,790,000
Subordinated notes	17,500,000	18,622,000
Other liabilities	24,850,000	22,369,000
Total liabilities	2,423,159,000	1,979,957,000
Stockholders' equity:
Serial preferred stock - $0.01 par value Authorized - 5,000,000 shares	0	0
Common stock - $0.01 par value Authorized - 20,000,000 shares Issued - 8,478,383 and 7,902,742 shares as of December 31, 2020 and December 31, 2019, respectively Outstanding - 7,709,497 and 7,084,728 shares as of December 31, 2020 and 2019, respectively	85,000	79,000
Additional paid-in capital	92,847,000	63,085,000
Retained earnings	221,393,000	189,494,000
Treasury stock, at cost - 768,886 and 818,014 shares as of December 31, 2020 and 2019, respectively	(25,227,000)	(24,941,000)
Accumulated other comprehensive income	5,759,000	2,494,000
Total stockholders' equity	294,857,000	230,211,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,718,016,000	$ 2,210,168,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Held-to-maturity, Fair Value	$ 6,688	$ 44,803
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	20,000,000	20,000,000
Common Stock, Shares, Issued	8,478,383	7,902,742
Common Stock, Shares, Outstanding	7,709,497	7,084,728
Treasury Stock, Shares	768,886	818,014
Series A Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	5,000,000	5,000,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest income:
Loans, including fees	$ 95,273,000	$ 82,939,000	$ 72,101,000
Securities:
Taxable	3,358,000	3,134,000	2,915,000
Tax-exempt	1,888,000	1,662,000	1,776,000
Other	181,000	1,430,000	1,152,000
Total interest income	100,700,000	89,165,000	77,944,000
Interest expense:
Deposits	12,473,000	17,875,000	12,382,000
Securities sold under repurchase agreements	114,000	461,000	399,000
Borrowed funds	1,278,000	1,162,000	2,064,000
Total interest expense	13,865,000	19,498,000	14,845,000
Net interest income	86,835,000	69,667,000	63,099,000
Provision for loan losses	7,125,000	5,250,000	2,935,000
Net interest income after provision for loan losses	79,710,000	64,417,000	60,164,000
Noninterest income:
Service charges	5,003,000	3,506,000	3,493,000
Income from Ansay and Associates, LLC ("Ansay")	2,740,000	1,792,000	2,114,000
Income from UFS, LLC ("UFS")	3,066,000	2,935,000	2,563,000
Loan servicing income	1,420,000	550,000	1,478,000
Net gain on sales of mortgage loans	5,310,000	1,401,000	617,000
Net gain on sales of securities	3,233,000	634,000	(31,000)
Net gain on sale of other investments		234,000
Noninterest income from strategic alliances	75,000	95,000	90,000
Other	2,673,000	1,485,000	1,176,000
Total noninterest income	23,520,000	12,632,000	11,500,000
Noninterest expense:
Salaries, commissions, and employee benefits	27,273,000	22,903,000	21,500,000
Occupancy	4,719,000	3,860,000	3,498,000
Data processing	5,515,000	4,509,000	3,619,000
Postage, stationery, and supplies	872,000	591,000	620,000
Net loss (gain) on sales and valuations of OREO	1,395,000	(73,000)	252,000
Advertising	226,000	268,000	220,000
Charitable contributions	574,000	566,000	985,000
Outside service fees	4,112,000	3,041,000	3,132,000
Amortization of intangibles	1,636,000	1,069,000	756,000
Penalty for early extinguishment of debt	1,323,000
Other	5,708,000	6,026,000	5,029,000
Total noninterest expense	53,353,000	42,760,000	39,611,000
Income before provision for income taxes	49,877,000	34,289,000	32,053,000
Provision for income taxes	11,831,000	7,595,000	6,597,000
Net Income	$ 38,046,000	$ 26,694,000	$ 25,456,000
Earnings per share - basic	$ 5.07	$ 3.91	$ 3.81
Earnings per share - diluted	5.07	3.87	3.81
Dividends per share	$ 0.81	$ 0.80	$ 0.68

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated Statements of Comprehensive Income
Net Income	$ 38,046	$ 26,694	$ 25,456
Unrealized gains (losses) on available for sale securities:
Unrealized holding gains (losses) arising during period	7,987	4,378	(1,761)
Amortization of unrealized holding gains on securities transferred from available for sale to held to maturity	(102)	(44)	(76)
Reclassification adjustment for (gains) losses included in net income	(3,233)	(634)	31
Income tax (expense) benefit	(1,387)	(840)	463
Total other comprehensive income (loss)	3,265	2,860	(1,343)
Comprehensive income	$ 41,311	$ 29,554	$ 24,113

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Serial Preferred Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Serial Preferred Stock [Member]	Common Stock [Member]Partnership Community Bancshares, Inc. [Member]	Common Stock [Member]Tomah Bancshares Inc [Member]	Common Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]Partnership Community Bancshares, Inc. [Member]	Additional Paid-in Capital [Member]Tomah Bancshares Inc [Member]	Additional Paid-in Capital [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	Treasury Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Partnership Community Bancshares, Inc. [Member]	Tomah Bancshares Inc [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Total
Balance at Dec. 31, 2017		$ 0				$ 74				$ 27,528		$ 145,879		$ (12,730)		$ 977				$ 161,728
Net income		0				0				0		25,456		0		0				25,456
Other comprehensive Income (Loss)		0				0				0		0		0		(1,343)				(1,343)
Purchase of treasury stock		0				0				0		0		(10,449)		0				(10,449)
Sale of treasury stock		0				0				0		0		1,347		0				1,347
Cash dividends		0				0				0		(4,530)		0		0				(4,530)
Amortization of stock-based compensation		0				0				556		0		0		0				556
Vesting of restricted stock awards		0				0				(483)		0		483		0				0
Balance at Dec. 31, 2018		0				74				27,601		168,363		(21,349)		(366)				174,323
Change in accounting principle in unconsolidated subsidiary											$ 1,558								$ 1,558
Net income												26,694								26,694
Other comprehensive Income (Loss)		0				0				0		0		0		2,860				2,860
Purchase of treasury stock		0				0				0		0		(4,205)		0				(4,205)
Issuance of treasury stock as deferred compensation payout		0				0				26		0		88		0				114
Cash dividends		0				0				0		(5,463)		0		0				(5,463)
Amortization of stock-based compensation		0				0				685		0		0		0				685
Vesting of restricted stock awards		0				0				(525)		0		525		0				0
Shares issued in the acquisition			$ 5				$ 35,298										$ 35,303
Balance at Dec. 31, 2019		$ 0				79				63,085		189,494		(24,941)		2,494				230,211
Change in accounting principle in unconsolidated subsidiary	$ 0				$ 0				$ 0		$ (100)		$ 0		$ 0				$ (100)
Net income												38,046								38,046
Other comprehensive Income (Loss)																3,265				3,265
Purchase of treasury stock														(4,367)						(4,367)
Sale of treasury stock														19						19
Issuance of treasury stock as deferred compensation payout														3,368						3,368
Cash dividends												(6,147)								(6,147)
Amortization of stock-based compensation										1,081										1,081
Vesting of restricted stock awards										(694)				694
Shares issued in the acquisition				$ 6				$ 29,375										$ 29,381
Balance at Dec. 31, 2020						$ 85				$ 92,847		$ 221,393		$ (25,227)		$ 5,759				$ 294,857

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Dividends Payable, Amount Per Share	$ 0.81	$ 0.80	$ 0.68
Partnership Community Bancshares, Inc. [Member]
Stock Issued During Period, Shares, Acquisitions		534,659
Tomah Bancshares Inc [Member]
Stock Issued During Period, Shares, Acquisitions	575,641

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 38,046,000	$ 26,694,000	$ 25,456,000
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	7,125,000	5,250,000	2,935,000
Depreciation and amortization of premises and equipment	1,536,000	1,273,000	1,116,000
Amortization of intangibles	1,636,000	1,069,000	756,000
Net amortization of securities	689,000	388,000	406,000
Amortization of stock-based compensation	1,081,000	685,000	556,000
Accretion of purchase accounting valuations	(5,473,000)	(7,077,000)	(6,056,000)
Net change in deferred loan fees and costs	2,417,000	(216,000)	231,000
(Benefit) expense for deferred income taxes	(116,000)	856,000	1,148,000
Change in fair value of mortgage servicing rights ("MSR") and other investments	2,262,000	775,000	(119,000)
Loss from sale and disposal of premises and equipment	178,000	23,000	455,000
Loss (gain) on sale of OREO and valuation allowance	1,395,000	(73,000)	252,000
Proceeds from sales of mortgage loans	215,903,000	86,057,000	37,891,000
Originations of mortgage loans held for sale	(212,190,000)	(85,983,000)	(37,630,000)
Gain on sales of mortgage loans	(5,310,000)	(1,401,000)	(617,000)
Realized (gain) loss on sale of securities available for sale and other investments	(3,233,000)	(868,000)	31,000
Undistributed income of UFS joint venture	(3,066,000)	(2,935,000)	(2,563,000)
Undistributed income of Ansay joint venture	(2,740,000)	(1,792,000)	(2,114,000)
Net earnings on life insurance	(741,000)	(625,000)	(608,000)
(Increase) decrease in other assets	(1,876,000)	(720,000)	306,000
Increase in other liabilities	6,440,000	1,268,000	1,220,000
Net cash provided by operating activities	43,963,000	22,648,000	23,052,000
Activity in securities available for sale and held to maturity:
Sales	59,697,000	45,506,000	4,467,000
Maturities, prepayments, and calls	73,524,000	13,364,000	15,559,000
Purchases	(28,764,000)	(103,848,000)	(22,909,000)
Net increase in loans	(343,581,000)	(36,496,000)	(29,229,000)
Dividends received from UFS	2,103,000	2,108,000	1,505,000
Dividends received from Ansay	1,712,000	1,329,000	1,432,000
Proceeds from sale of OREO	5,472,000	1,704,000	3,736,000
Proceeds from sales of other investments		984,000	2,671,000
Net purchases of Federal Home Loan Bank ("FHLB") stock	(640,000)	(65,000)	0
Net purchases of Federal Reserve Bank ("FRB") stock	(2,760,000)	0	0
Proceeds from life insurance		0	152,000
Proceeds from sale of premises and equipment	284,000	0	445,000
Purchases of premises and equipment	(8,371,000)	(7,268,000)	(7,927,000)
Investment in Ansay		(13,700,000)	0
Net cash received (used) in business combination	35,296,000	(9,771,000)	0
Net cash used in investing activities	(206,028,000)	(106,153,000)	(30,098,000)
Cash flows from financing activities, net of effects of business combination:
Net increase in deposits	307,032,000	17,506,000	51,023,000
Net (decrease) increase in securities sold under repurchase agreements	(10,305,000)	14,376,000	(16,079,000)
Proceeds from advances of notes payable	88,000,000	44,000,000	1,214,200,000
Repayment of notes payable	(127,400,000)	(4,000,000)	(1,222,700,000)
Proceeds from subordinated debt	6,000,000	0	0
Repayment of subordinated debt	(7,000,000)	0	0
Dividends paid	(6,147,000)	(5,463,000)	(4,530,000)
Proceeds from sales of common stock	19,000	0	1,347,000
Repurchase of common stock	(4,367,000)	(4,205,000)	(10,449,000)
Net cash provided by financing activities	245,832,000	62,214,000	12,812,000
Net increase (decrease) in cash and cash equivalents	83,767,000	(21,291,000)	5,766,000
Cash and cash equivalents at beginning of year	86,452,000	107,743,000	101,977,000
Cash and cash equivalents at end of year	170,219,000	86,452,000	107,743,000
Cash paid during the year for:
Interest	14,972,000	18,938,000	14,440,000
Income taxes	10,181,000	6,677,000	5,775,000
Supplemental schedule of noncash activities:
Loans transferred to OREO	1,892,000	4,927,000	1,310,000
MSR resulting from sale of loans	1,375,000	740,000	356,000
Amortization of unrealized holding gains on securities transferred from available for sale to held to maturity recognized in other comprehensive income, net of tax	(81,000)	(35,000)	(60,000)
Change in unrealized gains and losses on investment securities available for sale, net of tax	3,346,000	2,895,000	(1,367,000)
Payment of deferred compensation through issuance of treasury stock	3,368,000	114,000	0
Initial recognition of right-of-use lease asset and liability		1,699,000	0
Cancellation of subordinated debt issued to acquired institution		6,500,000	0
Acquisition:
Fair value of assets acquired	209,918,000	307,768,000	0
Fair value of liabilities assumed	191,701,000	286,612,000	0
Net assets acquired	$ 18,217,000	$ 21,156,000	$ 0
Common stock issued in acquisition	29,381	35,303	0

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Bank First Corporation and Subsidiaries Notes to Consolidated Financial Statements Note 1 Summary of Significant Accounting Policies The accounting and reporting policies of Bank First Corporation and Subsidiaries ( “Corporation” ) conform to generally accepted accounting principles ( “GAAP” ) in the United States and general practices within the financial institution industry. Significant accounting and reporting policies are summarized below. Principles of Consolidation The consolidated financial statements include the accounts of the Corporation and its wholly owned subsidiaries, Veritas Asset Holdings, LLC ( “Veritas” ) and Bank First, National Association ( “Bank” ). The Bank’s wholly owned subsidiaries are Bank First Investments, Inc., TVG Holdings, Inc. ( “TVG") and BFC Title LLC.(organized during 2020). All significant intercompany balances and transactions have been eliminated. The Bank and TVG have investments in minority-owned subsidiaries that are accounted for using the equity method in the consolidated financial statements. The Bank owns 49.8% of UFS which provides data processing solutions to over 60 banks in the Midwest. TVG owns 40.0% of Ansay providing clients throughout the Midwest with superior insurance and risk management solutions. Organization The Corporation provides a variety of financial services to individual and business customers, primarily located in Wisconsin, through the Bank. The Bank is subject to competition from other traditional and nontraditional financial institutions and is also subject to the regulations of certain federal agencies and undergoes periodic examinations by those regulatory authorities including the Office of the Comptroller of the Currency and the Federal Reserve Bank. Use of Estimates in Preparation of Financial Statements The preparation of the accompanying consolidated financial statements in conformity with GAAP in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results may differ from these estimates. The allowance for loan losses, carrying value of real estate owned, carrying value of goodwill, fair value of mortgage servicing rights, and fair values of financial instruments are inherently subjective and are susceptible to significant change. Business Combinations The Corporation accounts for business combinations under the acquisition method of accounting in accordance with Financial Accounting Standards Board (“FASB” ) Accounting Standards Codification ( “ASC” ) 805, Business Combinations. The Corporation recognizes the full fair value of the assets acquired and liabilities assumed and immediately expenses transaction costs. There is no separate recognition of the acquired allowance for loan losses on the acquirer’s balance sheet as credit related factors are incorporated directly into the fair value of the net tangible and intangible assets acquired. If the amount of consideration exceeds the fair value of assets purchased less the fair value of liabilities assumed, goodwill is recorded. Alternatively, if the amount by which the fair value of assets purchased exceeds the fair value of liabilities assumed and consideration paid, a gain (bargain purchase gain) is recorded. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Results of operations of the acquired business are included in the statement of income from the effective date of the acquisition. Additional information regarding acquisitions is provided in Note 2. Cash and Cash Equivalents For purposes of reporting cash flows in the consolidated financial statements, cash and cash equivalents include cash on hand, interest-bearing and noninterest-bearing accounts in other financial institutions, and federal funds sold, all of which have original maturities of three months or less. Generally, federal funds are purchased and sold for one day periods. In the normal course of business, the Corporation maintains cash and due from bank balances with correspondent banks. Accounts at each institution that are insured by the Federal Deposit Insurance Corporation have up to $250,000 of insurance. Total uninsured balances held at December 31, 2020 and 2019 were approximately $31,039,000 and $1,900,000, respectively. The Bank is required to maintain deposits on hand or with the FRB to meet specific reserve requirements. During 2020, in response to liquidity concerns resulting from the COVID-19 pandemic (“COVID”), this reserve requirement was reduced to zero by the FRB. For December 31, 2019, those required reserves were approximately $26,184,000. Securities Securities are classified as held to maturity or available for sale at the time of purchase. Investment securities classified as held to maturity, which management has the intent and ability to hold to maturity, are reported at amortized cost. Investment securities classified as available for sale, which management has the intent and ability to hold for an indefinite period of time, but not necessarily to maturity, are carried at fair value, with unrealized gains and losses, net of related deferred income taxes, included in stockholders’ equity as a separate component of other comprehensive income. The net carrying value of debt securities classified as held to maturity or available for sale is adjusted for amortization of premiums and accretion of discounts utilizing the effective interest method over the expected estimated maturity. Such amortization and accretion is included as an adjustment to interest income from securities. Interest and dividends are included in interest income from securities. Transfers of debt securities into the held to maturity classification from the available for sale classification are made at fair value as of the date of transfer. The unrealized holding gain or loss as of the date of transfer is retained in other comprehensive income and in the carrying value of the held to maturity securities, establishing the amortized cost of the security. These unrealized holding gains and losses as of the date of transfer are amortized or accreted over the remaining life of the security. Unrealized gains or losses considered temporary and the noncredit portion of unrealized losses deemed other-than-temporary are reported as an increase or decrease in accumulated other comprehensive income. The credit related portion of unrealized losses deemed other-than-temporary is recorded in current period earnings. Realized gains or losses, determined on the basis of the cost of specific securities sold, are included in earnings. The Bank evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. As part of such monitoring, the credit quality of individual securities and their issuers are assessed. In addition, management considers the length of time and extent that fair value has been less than cost, the financial condition and near-term prospects of the issuer, and that the Corporation does not have the intent to sell the security and it is more likely than not that it will not have to sell the security before recovery of its cost basis. Adjustments to market value that are considered temporary are recorded as a separate component of equity, net of tax. If an impairment of security is identified as other-than-temporary based on information available such as the decline in the credit worthiness of the issuer, external market ratings or the anticipated or realized elimination of associated dividends, such impairments are further analyzed to determine if a credit loss exists. If there is a credit loss, it will be recorded in the consolidated statement of income in the period of identification. Other Investments Other investments are carried at cost, or, where available, recently observable market prices, which approximates fair value, and consist of FHLB stock, FRB stock, Bankers’ Bancorporation stock and preferred stock in a community development project. Other investments are evaluated for impairment at least on an annual basis. Loans Held for Sale Loans originated and intended for sale in the secondary market, consisting of the current origination of certain fixed-rate mortgage loans, are carried at the lower of cost or estimated fair value in the aggregate. A gain or loss is recognized at the time of the sale reflecting the present value of the difference between the contractual interest rate of the loans sold and the yield to the investor, adjusted for the initial value of mortgage servicing rights associated with loans sold with servicing retained. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans and Related Interest Income - Originated Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoffs are generally reported at their outstanding unpaid principal balances adjusted for charge-offs and the allowance for loan losses. The accrual of interest on loans is calculated using the simple interest method on daily balances of the principal amount outstanding and is recognized in the period earned utilizing the loan convention applicable by loan type. Loan origination fees, net of certain direct loan origination costs, are deferred and recognized in interest income using the effective interest method over the estimated life of the loan. The accrual of interest is discontinued when a loan becomes 90 days past due and is not both well collateralized and in the process of collection, or when management believes, after considering economic and business conditions and collection efforts, that the principal or interest will not be collectible in the normal course of business. When loans are placed on nonaccrual or charged off, all unpaid accrued interest is reversed and additional income is recorded only to the extent that payments are received and the collection of principal is reasonably assured. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, when the obligation has performed in accordance with the contractual terms for a reasonable period of time, and future payments of principal and interest are reasonably assured. Loans are considered impaired if it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement. Total impaired loans are evaluated based on the fair value of the collateral rather than on discounted cash flow basis. In response to the COVID-19 pandemic, the CARES Act was signed into law. Under the CARES Act, banks may elect to deem that loan modifications do not result in troubled debt restructurings ("TDRs") if they are (1) related to COVID-19; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020 and the earlier of (A) 60 days after the date of termination of the national emergency declaration or (B) December 31, 2020. Additionally, in accordance with the lnteragency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised), other short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs under ASC Subtopic 310-40. This includes short-term (e.g. up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented . Loans modified under this guidance are not considered TDRs. Loans and Related Interest Income - Acquired Acquired loans are recorded at their estimated fair value at the acquisition date, and are initially classified as either purchase credit impaired ( “PCI” ) loans (i.e. loans that reflect credit deterioration since origination and it is probable at acquisition that the Corporation will be unable to collect all contractually required payments) or purchased non-impaired loans (i.e. performing acquired loans). PCI loans are accounted for under the accounting guidance for loans and debt securities acquired with deteriorated credit quality, found in FASB ASC Topic 310-30, Receivables— Loans and Debt Securities Acquired with Deteriorated Credit Quality. The Corporation estimates the amount and timing of expected principal, interest and other cash flows for each loan or pool of loans meeting the criteria above, and determines the excess of the loan’s scheduled contractual principal and contractual interest payments over all cash flows expected to be collected at acquisition as an amount that should not be accreted. These credit discounts (nonaccretable marks) are included in the determination of the initial fair value for acquired loans; therefore, an allowance for loan losses is not recorded at the acquisition date. Differences between the estimated fair values and expected cash flows of acquired loans at the acquisition date that are not credit-based (accretable marks) are subsequently accreted to interest income over the estimated life of the loans using a method that approximates a level yield method if the timing and amount of the future cash flows is reasonably estimable. Subsequent to the acquisition date for PCI loans, increases in cash flows over those expected at the acquisition date result in a move of the discount from nonaccretable to accretable. Decreases in expected cash flows after the acquisition date are recognized through the provision for loan losses. Performing acquired loans are accounted for under FASB ASC Topic 310-20, Receivables—Nonrefundable Fees and Other Costs. Performance of certain loans may be monitored and based on management’s assessment of the cash flows and other facts available, portions of the accretable difference may be delayed or suspended if management deems appropriate. The Corporation’s policy for determining when to discontinue accruing interest on performing acquired loans and the subsequent accounting for such loans is essentially the same as the policy for originated loans described above. Allowance for Loan Losses - Originated The allowance for loan losses ( “ALL” ) is established through a provision for loan losses charged to expense as losses are estimated to have occurred. Loan losses are charged against the allowance when management believes that the collectability of the principal is unlikely. Subsequent recoveries, if any, are credited to the allowance. Management regularly evaluates the allowance for loan losses using general economic conditions, the Corporation’s past loan loss experience, composition of the portfolio, and other relevant factors. This evaluation is inherently subjective since it requires material estimates that may be susceptible to significant change. The ALL consists of specific reserves for certain impaired loans and general reserves for non-impaired loans. Specific reserves reflect estimated losses on impaired loans from management’s analyses developed through specific credit allocations. The specific credit reserves are based on regular analyses of impaired non-homogenous loans greater than $250,000. These analyses involve a high degree of judgment in estimating the amount of loss associated with specific loans, including estimating the amount and timing of future cash flows and collateral values. The general reserve is based on the Bank’s historical loss experience which is updated quarterly. The general reserve portion of the ALL also includes consideration of certain qualitative factors such as 1) changes in lending policies and/or underwriting practices, 2) national and local economic conditions 3) changes in portfolio volume and nature, 4) experience, ability and depth of lending management and other relevant staff, 5) levels of and trends in past-due and nonaccrual loans and quality, 6) changes in loan review and oversight, 7) impact and effects of concentrations and 8) other issues deemed relevant. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on changes in economic conditions. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments of information available to them at the time of their examination. Allowance for Loan Losses - Acquired An ALL is calculated using a methodology similar to that described for originated loans. Performing acquired loans are subsequently evaluated for any required allowance at each reporting date. Such required allowance for each loan pool is compared to the remaining fair value discount for that pool. If greater, the excess is recognized as an addition to the allowance through a provision for loan losses. If less than the discount, no additional allowance is recorded. Charge-offs and losses first reduce any remaining fair value discount for the loan pool and once the discount is depleted, losses are applied against the allowance established for that pool. For PCI loans after acquisition, cash flows expected to be collected are recast for each loan periodically as determined appropriate by management. If the present value of expected cash flows for a loan is less than its carrying value, impairment is reflected by an increase in the ALL and a charge to the provision for loan losses. If the present value of the expected cash flows for a loan is greater than its carrying value, any previously established ALL is reversed and any remaining difference increases the accretable yield which will be taken into income over the remaining life of the loan. Loans which were considered troubled debt restructurings by Partnership Community Bancshares, Inc. and Tomah Bancshares, Inc. prior to the acquisition are not required to be classified as troubled debt restructurings in the Corporation’s consolidated financial statements unless or until such loans would subsequently meet criteria to be classified as such, since acquired loans were recorded at their estimated fair values at the time of the acquisition. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Premises and equipment acquired in corporate acquisitions are recorded at estimated fair value on the date of acquisition. Maintenance and repair costs are charged to expense as incurred. Gains or losses on disposition of premises and equipment are reflected in income. Premises and equipment, and other long-term assets, are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. Depreciation expense is computed using the straight-line method over the following estimated useful lives. ​ ​ ​ ​ Buildings and improvements 40 years Land improvements 20 years Furniture, fixtures and equipment 2-7 years ​ Other Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value at the date of foreclosure less estimated costs to sell the asset, establishing a new cost basis. Any write downs at the time of foreclosure are charged to the allowance for loan loss. OREO properties acquired in conjunction with corporate acquisitions are recorded at fair value on the date of acquisition. Subsequent to foreclosure, valuations are periodically performed by management, and a valuation allowance is established if fair value declines below carrying value. Costs relating to the development and improvement of the property are capitalized. Revenue and expenses from operations and changes in the valuation allowance are included in other expenses. Intangible Assets and Goodwill Intangible assets consist of the value of core deposits and mortgage servicing assets and the excess of purchase price over fair value of net assets (goodwill). Core deposits are stated at cost less accumulated amortization and are amortized on a sum of the year’s digits basis over a period of one to ten years. See Note 2 for additional information on acquisitions completed in 2020 and 2019. Mortgage servicing rights are recognized as separate assets when rights are acquired through purchase or through sale of mortgage loans with servicing retained. Servicing rights acquired through sale of financial assets are recorded based on the fair value of the servicing right. The determination of fair value is based on a valuation model and includes stratifying the mortgage servicing rights by predominant characteristics, such as interest rates and terms, and estimating the fair value of each stratum based on the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as costs to service, a discount rate, and prepayment speeds. Changes in fair value are recorded as an adjustment to earnings. The Corporation performs a “qualitative” assessment of goodwill to determine whether further impairment testing of indefinite-lived intangible assets is necessary on at least an annual basis. If it is determined, as a result of performing a qualitative assessment over goodwill, that it is more likely than not that goodwill is impaired, management will perform an impairment test to determine if the carrying value of goodwill is realizable. The Corporation evaluated goodwill and core deposit intangibles for impairment during 2020, 2019 and 2018, determining that there was no goodwill or core deposit intangible impairment. Income Taxes The Corporation files one consolidated federal income tax return and two state returns. Federal income tax expense is allocated to each subsidiary based on an intercompany tax sharing agreement. Deferred tax assets and liabilities have been determined using the liability method. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities and the current enacted tax rates which will be in effect when these differences are expected to reverse. Provision (benefit) for deferred taxes is the result of changes in the deferred tax assets and liabilities. Treasury Stock Common stock shares repurchased by the Corporation are recorded as treasury stock at cost. Securities Sold Under Repurchase Agreements The Corporation sells securities under repurchase agreements. These transactions are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold. The Corporation may have to provide additional collateral to the counterparty, as necessary. Off-Balance-Sheet Financial Instruments In the ordinary course of business, the Corporation has entered into off-balance-sheet financial instruments including commitments to extend credit, unfunded commitments under lines of credit, and letters of credit. Such financial instruments are recorded in the consolidated financial statements when they are funded. Advertising Advertising costs are generally expensed as incurred. Per Share Computations Weighted average shares outstanding were 7,441,256, 6,820,225, and 6,673,758 for the years ended December 31, 2020, 2019 and 2018, respectively. All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities for basic and diluted earnings per share calculations. There were 39,821 and 82,391 average shares of dilutive instruments outstanding during the years ended December 31, 2020 and 2019. There were no dilutive instruments outstanding during 2018. Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are any such matters that will have a material effect on the consolidated financial statements at December 31, 2020 and 2019. Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Bank, the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets and the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity. Comprehensive Income GAAP normally requires that recognized revenues, expenses, gains and losses be included in net income. In addition to net income, another component of comprehensive income includes the after-tax effect of changes in unrealized gains and losses on available for sale securities. This item is reported as a separate component of stockholders’ equity. The Corporation presents comprehensive income in the statement of comprehensive income. Stock-based Compensation The Corporation uses the fair value method of recognizing expense for stock-based compensation based on the fair value of restricted stock awards at the date of grant as prescribed by accounting standards codification Topic 781-10 Compensation/Stock Compensation. Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest rate on the loan is locked. The Bank enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into in order to hedge the change in interest rates resulting from its commitments to fund loans. The forward commitments for the future delivery of mortgage loans are based on the Bank’s “best efforts” and therefore the Bank is not penalized if a loan is not delivered to the investor if the loan did not get originated. Changes in the fair values of these derivatives generally offset each other and are included in “other income” in the consolidated statements of income. Reclassifications Certain 2019 and 2018 amounts have been reclassified to conform to the presentation used in 2020. These reclassifications had no effect on the operations, financial condition or cash flows of the Corporation. New Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses Codification Improvements to Topic 326, Financial Instruments—Credit Losses In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2020
Acquisitions
Acquisitions	Note 2 Acquisitions ​ Tomah Bancshares, Inc. On May 15, 2020, the Company completed a merger with Tomah Bancshares, Inc. (“Timberwood”), a bank holding company headquartered in Tomah, Wisconsin, pursuant to the Agreement and Plan of Bank Merger, dated as of November 20, 2019, by and among the Company and Timberwood, whereby Timberwood merged with and into the Company, and Timberwood Bank, Timberwood’s wholly-owned banking subsidiary, merged with and into the Bank. Timberwood’s principal activity was the ownership and operation of Timberwood Bank, a state-chartered banking institution that operated one (1) branch in Wisconsin at the time of closing. The merger consideration totaled approximately $29.8 million. ​ Pursuant to the terms of the Merger Agreement, Timberwood shareholders received 5.1445 shares of the Company’s common stock for each outstanding share of Timberwood common stock, and cash in lieu of any remaining fractional share. Company stock issued totaled 575,641 shares valued at approximately $29.4 million, with cash of $0.4 million comprising the remainder of merger consideration. ​ The Company accounted for the transaction under the acquisition method of accounting, and thus, the financial position and results of operations of Timberwood prior to the consummation date were not included in the accompanying consolidated financial statements. The accounting required assets purchased and liabilities assumed to be recorded at their respective fair values at the date of acquisition. The Company determined the fair value of core deposit intangibles, securities, premises and equipment, loans, other assets and liabilities, deposits and borrowings with the assistance of third party valuations, appraisals, and third party advisors. The estimated fair values will be subject to refinement for up to one year after deal consummation as additional information becomes available relative to the closing date fair values. ​ The fair value of the assets acquired and liabilities assumed on May 15, 2020 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Recorded by Fair Value ​ As Recorded by (In thousands) ​ Timberwood Adjustments the Company Cash, cash equivelants and securities ​ $ 79,614 ​ $ (656) ​ $ 78,958 Other investments ​ 533 ​ — ​ ​ 533 Loans ​ 117,343 ​ 1,068 ​ ​ 118,411 Premises and equipment, net ​ 2,538 ​ (1,006) ​ ​ 1,532 Core deposit intangible ​ — ​ 1,697 ​ ​ 1,697 Other assets ​ 11,392 ​ (2,605) ​ ​ 8,787 Total assets acquired ​ $ 211,420 ​ $ (1,502) ​ $ 209,918 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ $ 170,362 ​ $ 742 ​ $ 171,104 Subordinated debt ​ 6,500 ​ — ​ 6,500 Other borrowings ​ 12,938 ​ 210 ​ 13,148 Other liabilities ​ 1,923 ​ (974) ​ 949 Total liabilities assumed ​ $ 191,723 ​ $ (22) ​ $ 191,701 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Excess of assets acquired over liabilties assumed ​ $ 19,697 ​ $ (1,480) ​ $ 18,217 Less: purchase price ​ ​ ​ 29,812 Goodwill (originally recorded) ​ ​ ​ ​ ​ ​ ​ ​ 11,595 Refinement to fair value estimates ​ ​ ​ ​ ​ ​ ​ ​ 420 Goodwill (after refinement) ​ ​ ​ $ 12,015 ​ Partnership Community Bancshares, Inc. On July 12, 2019, the Corporation completed a merger with Partnership Community Bancshares, Inc. (“Partnership”), a bank holding company headquartered in Cedarburg, Wisconsin, pursuant to the Agreement and Plan of Bank Merger, dated as of January 22, 2019 and as amended on April 30, 2019, by and among the Corporation and Partnership, whereby Partnership merged with and into the Corporation, and Partnership Bank, Partnership’s wholly-owned banking subsidiary, merged with and into the Bank. Partnership’s principal activity was the ownership and operation of Partnership Bank, a state-chartered banking institution that operated four branches in Wisconsin at the time of closing. The merger consideration totalled approximately $49,589,000. Pursuant to the terms of the Merger Agreement, Partnership shareholders had the option to receive either 0.34879 shares of the Corporation’s common stock or $17.3001 in cash for each outstanding share of Partnership common stock, and cash in lieu of any remaining fractional share. The stock versus cash elections by the Partnership shareholders were subject to final consideration being made up of approximately $14,285,000 in cash and 534,659 shares of Corporation common stock, valued at approximately $35,303,000 (based on a value of $66.03 per share on the closing date). The purpose of the merger was for strategic reasons beneficial to the Corporation. The acquisition is consistent with its plan to drive growth and efficiency through increased scale, leverage the strengths of each bank across the combined customer base, enhance profitability, and add liquidity and shareholder value. The Corporation accounted for the transaction under the acquisition method of accounting, and thus, the financial position and results of operations of Partnership prior to the consummation date were not included in the accompanying consolidated financial statements. The accounting required assets purchased and liabilities assumed to be recorded at their respective fair values at the date of acquisition. The Corporation determined the fair value of core deposit intangibles, securities, premises and equipment, loans, other assets and liabilities, deposits and borrowings with the assistance of third party valuations, appraisals, and third party advisors. The estimated fair values will be subject to refinement for up to one year after the consummation as additional information becomes available relative to the closing date fair values. The fair value of the assets acquired and liabilities assumed on July 12, 2019 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Recorded by ​ ​ ​ ​ ​ ​ Partnership ​ ​ ​ ​ As Recorded by ​ ​ Community ​ Fair Value ​ Bank First ​ ​ Bancshares ​ Adjustments ​ Corporation (in thousands) ​ Cash, cash equivelants and securities ​ $ 21,447 ​ $ (291) ​ $ 21,156 Other investments ​ ​ 441 ​ ​ ​ ​ ​ 441 Loans ​ 276,279 ​ (957) ​ 275,322 Premises and equipment, net ​ 6,066 ​ (2,940) ​ 3,126 Core deposit intangible ​ — ​ ​ 4,236 ​ ​ 4,236 Other assets ​ ​ 3,668 ​ ​ (181) ​ ​ 3,487 Total assets acquired ​ $ 307,901 ​ $ (133) ​ $ 307,768 Deposits ​ $ 268,653 ​ $ 154 ​ $ 268,807 Subordinated debt ​ ​ 7,000 ​ ​ 195 ​ ​ 7,195 Other borrowings ​ 9,800 ​ (18) ​ 9,782 Other liabilities ​ ​ 841 ​ ​ (13) ​ ​ 828 Total liabilities assumed ​ $ 286,294 ​ $ 318 ​ $ 286,612 Excess of assets acquired over liabilties assumed ​ $ 21,607 ​ $ (451) ​ $ 21,156 Less: purchase price ​ ​ ​ ​ 49,589 Goodwill ​ ​ ​ ​ $ 28,433 ​

Securities

Securities	12 Months Ended
	Dec. 31, 2020
Securities
Securities	Note 3 Securities The following is a summary of available for sale securities (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated ​ ​ Cost ​ Gains ​ Losses ​ Fair Value December 31, 2020 ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 18,276 ​ $ 556 ​ $ (53) ​ $ 18,779 Obligations of states and political subdivisions ​ 67,653 ​ 4,564 ​ — ​ 72,217 Mortgage-backed securities ​ ​ 41,804 ​ ​ 2,395 ​ ​ — ​ ​ 44,199 Corporate notes ​ 27,358 ​ 470 ​ (85) ​ 27,743 Certificates of deposit ​ ​ 2,063 ​ ​ 38 ​ ​ — ​ ​ 2,101 Total available for sale securities ​ $ 157,154 ​ $ 8,023 ​ $ (138) ​ $ 165,039 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 12,218 ​ $ — ​ $ (158) ​ $ 12,060 Obligations of states and political subdivisions ​ ​ 52,594 ​ ​ 2,197 ​ ​ (20) ​ ​ 54,771 Mortgage-backed securities ​ 50,770 ​ 988 ​ (38) ​ 51,720 Corporate notes ​ 62,794 ​ 172 ​ (11) ​ 62,955 Total available for sale securities ​ $ 178,376 ​ $ 3,357 ​ $ (227) ​ $ 181,506 ​ The following is a summary of held to maturity securities (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated ​ ​ Cost ​ Gains ​ Losses ​ Fair Value December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of states and political subdivisions ​ $ 6,669 ​ $ 19 ​ $ — ​ $ 6,688 December 31, 2019 ​ ​ ​ ​ U.S. Treasury securities ​ $ 33,527 ​ $ 1,076 ​ $ (22) ​ $ 34,581 Obligations of states and political subdivisions ​ 10,207 ​ 15 ​ — ​ 10,222 Total held to maturity securities ​ $ 43,734 ​ $ 1,091 ​ $ (22) ​ $ 44,803 ​ At December 31, 2020, unrealized losses in the investment securities portfolio related to debt securities. The unrealized losses on these debt securities arose primarily due to changing interest rates and are considered to be temporary. From the December 31, 2020 tables above,4 out of 10 U.S. Government sponsored agency securities and 2 out of 12 corporate notes contained unrealized losses. At December 31, 2020 and 2019, management has both the intent and ability to hold securities containing unrealized losses. The following table shows the fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months ​ Greater Than 12 Months ​ Total ​ Fair Unrealized Fair Unrealized Fair Unrealized ​ ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 - Available for Sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 5,640 ​ $ (53) ​ $ — ​ $ — ​ $ 5,640 ​ $ (53) Corporate notes ​ 7,890 ​ (85) ​ — ​ — ​ 7,890 ​ (85) Totals ​ $ 13,530 ​ $ (138) ​ $ — ​ $ — ​ $ 13,530 ​ $ (138) December 31, 2019 - Available for Sale ​ ​ ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 12,059 ​ $ (158) ​ $ — ​ $ — ​ $ 12,059 ​ $ (158) Obligations of states and political subdivisions ​ ​ 5,636 ​ ​ (19) ​ ​ 999 ​ ​ (1) ​ ​ 6,635 ​ ​ (20) Mortgage-backed securities ​ 4,038 ​ (26) ​ 2,187 ​ (12) ​ 6,225 ​ (38) Corporate notes ​ 3,925 ​ (11) ​ — ​ — ​ 3,925 ​ (11) Totals ​ $ 25,658 ​ $ (214) ​ $ 3,186 ​ $ (13) ​ $ 28,844 ​ $ (227) December 31, 2019 - Held to Maturity ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 2,958 ​ $ (22) ​ $ — ​ $ — ​ $ 2,958 ​ $ (22) ​ Contractual maturities will differ from expected maturities for mortgage-backed securities because borrowers may have the right to call or prepay obligations without penalties. The following is a summary of amortized cost and estimated fair value of securities, by contractual maturity, as of December 31, 2020 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ Held to Maturity ​ Amortized Estimated Amortized Estimated ​ ​ Cost ​ Fair Value ​ Cost ​ Fair Value Due in one year or less ​ $ 13,356 ​ $ 13,350 ​ $ 751 ​ $ 751 Due after one year through 5 years ​ 11,557 ​ 12,329 ​ ​ 3,523 ​ ​ 3,542 Due after 5 years through ten years ​ 15,596 ​ 16,483 ​ ​ 2,395 ​ ​ 2,395 Due after 10 years ​ 74,841 ​ 78,678 ​ ​ — ​ ​ — Subtotal ​ 115,350 ​ 120,840 ​ ​ 6,669 ​ ​ 6,688 Mortgage-backed securities ​ 41,804 ​ 44,199 ​ ​ — ​ ​ — Total ​ $ 157,154 ​ $ 165,039 ​ $ 6,669 ​ $ 6,688 ​ Following is a summary of the proceeds from sales of securities available for sale, as well as gross gains and losses, from the years ended December 31 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Proceeds from sales of securities ​ $ 59,697 ​ $ 45,506 ​ $ 4,467 Gross gains on sales ​ 3,284 ​ 657 ​ 41 Gross losses on sales ​ (51) ​ (23) ​ (72) ​ As of December 31, 2020 and 2019, the carrying values of securities pledged to secure public deposits, securities sold under repurchase agreements, and for other purposes required or permitted by law were approximately $134,918,000 and $137,640,000, respectively.

Loans

Loans	12 Months Ended
	Dec. 31, 2020
Loans
Loans	Note 4 Loans The composition of loans at December 31 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Commercial/industrial ​ $ 447,344 ​ $ 302,538 Commercial real estate - owner occupied ​ 549,619 ​ 459,782 Commercial real estate - non-owner occupied ​ 443,144 ​ 353,723 Construction and development ​ 140,042 ​ 132,296 Residential 1 ‑ ​ 545,818 ​ 448,605 Consumer ​ 30,359 ​ 29,462 Other ​ 38,054 ​ 10,440 Subtotals ​ 2,194,380 ​ 1,736,846 ALL ​ (17,658) ​ (11,396) Loans, net of ALL ​ 2,176,722 ​ 1,725,450 Deferred loan fees and costs ​ (2,920) ​ (503) Loans, net ​ $ 2,173,802 ​ $ 1,724,947 ​ A summary of the activity in the allowance for loan losses by loan type as of December 31, 2020 and December 31, 2019 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - ​ Real Estate  - ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial / ​ Owner ​ Non-Owner ​ and ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Occupied ​ Occupied ​ Development ​ 1-4 Family ​ Consumer ​ Other ​ Total ALL - January 1, 2020 ​ $ 2,320 ​ $ 4,587 ​ $ 1,578 ​ $ 548 ​ $ 2,169 ​ $ 141 ​ $ 53 ​ $ 11,396 Charge-offs ​ (1,087) ​ ​ (783) ​ ​ — ​ (33) ​ (63) ​ (90) ​ (35) ​ (2,091) Recoveries ​ 4 ​ ​ 1,129 ​ ​ 40 ​ — ​ 42 ​ — ​ 13 ​ 1,228 Provision ​ 812 ​ ​ 1,175 ​ ​ 2,286 ​ 512 ​ 1,812 ​ 150 ​ 378 ​ 7,125 ALL - December 31, 2020 ​ 2,049 ​ ​ 6,108 ​ ​ 3,904 ​ 1,027 ​ 3,960 ​ 201 ​ 409 ​ 17,658 ALL ending balance individually evaluated for impairment ​ 10 ​ ​ — ​ ​ 890 ​ — ​ — ​ — ​ — ​ 900 ALL ending balance collectively evaluated for impairment ​ $ 2,039 ​ $ 6,108 ​ $ 3,014 ​ $ 1,027 ​ $ 3,960 ​ $ 201 ​ $ 409 ​ $ 16,758 Loans outstanding - December 31, 2020 ​ $ 447,344 ​ $ 549,619 ​ $ 443,144 ​ $ 140,042 ​ $ 545,818 ​ $ 30,359 ​ $ 38,054 ​ $ 2,194,380 Loans ending balance individually evaluated for impairment ​ 478 ​ ​ 1,171 ​ ​ 8,676 ​ — ​ 260 ​ — ​ — ​ 10,585 Loans ending balance collectively evaluated for impairment ​ $ 446,866 ​ $ 548,448 ​ $ 434,468 ​ $ 140,042 ​ $ 545,558 ​ $ 30,359 ​ $ 38,054 ​ $ 2,183,795 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate  - ​ Real Estate  - ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial / ​ Owner ​ Non-Owner ​ and ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Occupied ​ Occupied ​ Development ​ 1-4 Family ​ Consumer ​ Other ​ Total ALL - January 1, 2019 ​ $ 3,021 ​ $ 3,750 ​ $ 2,100 ​ $ 725 ​ $ 2,472 ​ $ 148 ​ $ 32 ​ $ 12,248 Charge-offs ​ (1,229) ​ (4,994) ​ (62) ​ — ​ (276) ​ (76) ​ (41) ​ (6,678) Recoveries ​ 11 ​ 356 ​ 60 ​ — ​ 130 ​ 11 ​ 8 ​ 576 Provision ​ 517 ​ 5,475 ​ (520) ​ (177) ​ (157) ​ 58 ​ 54 ​ 5,250 ALL - December 31, 2019 ​ 2,320 ​ 4,587 ​ 1,578 ​ 548 ​ 2,169 ​ 141 ​ 53 ​ 11,396 ALL ending balance individually evaluated for impairment ​ 760 ​ 80 ​ — ​ — ​ — ​ — ​ — ​ 840 ALL ending balance collectively evaluated for impairment ​ $ 1,560 ​ $ 4,507 ​ $ 1,578 ​ $ 548 ​ $ 2,169 ​ $ 141 ​ $ 53 ​ $ 10,556 Loans outstanding - December 31, 2019 ​ $ 302,538 ​ $ 459,782 ​ $ 353,723 ​ $ 132,296 ​ $ 448,605 ​ $ 29,462 ​ $ 10,440 ​ $ 1,736,846 Loans ending balance individually evaluated for impairment ​ 1,878 ​ 960 ​ — ​ — ​ — ​ — ​ — ​ 2,838 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ending balance collectively evaluated for impairment ​ $ 300,660 ​ $ 458,822 ​ $ 353,723 ​ $ 132,296 ​ $ 448,605 ​ $ 29,462 ​ $ 10,440 ​ $ 1,734,008 ​ A summary of past due loans as of December 31, 2020 are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ 30-89 Days ​ or more ​ ​ ​ ​ ​ ​ ​ ​ Past Due ​ Past Due ​ ​ ​ ​ ​ ​ ​ Accruing ​ and Accruing ​ Non-Accrual ​ Total Commercial/industrial ​ $ 116 ​ $ — ​ $ 433 ​ $ 549 Commercial real estate - owner occupied ​ — ​ 1,582 ​ 1,078 ​ 2,660 Commercial real estate - non-owner occupied ​ — ​ — ​ 8,087 ​ 8,087 Construction and development ​ — ​ — ​ 281 ​ 281 Residential 1 ‑ ​ 1,415 ​ 142 ​ 912 ​ 2,469 Consumer ​ 4 ​ 14 ​ 5 ​ 23 Other ​ — ​ — ​ — ​ — ​ ​ $ 1,535 ​ $ 1,738 ​ $ 10,796 ​ $ 14,069 ​ A summary of past due loans as of December 31, 2019 are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ 30-89 Days ​ or more ​ ​ ​ ​ ​ ​ ​ ​ Past Due ​ Past Due ​ ​ ​ ​ ​ ​ Accruing ​ and Accruing ​ Non-Accrual ​ Total Commercial/industrial ​ $ 235 ​ $ — ​ $ 1,923 ​ $ 2,158 Commercial real estate - owner occupied ​ 1,124 ​ — ​ 2,513 ​ 3,637 Commercial real estate - non-owner occupied ​ — ​ — ​ 75 ​ 75 Construction and development ​ 768 ​ 11 ​ — ​ 779 Residential 1 ‑ ​ 805 ​ 307 ​ 550 ​ 1,662 Consumer ​ 70 ​ 36 ​ 32 ​ 138 Other ​ — ​ — ​ — ​ — ​ ​ $ 3,002 ​ $ 354 ​ $ 5,093 ​ $ 8,449 ​ Credit Quality: We utilize a numerical risk rating system for commercial relationships whose total indebtedness equals $250,000 or more. All other types of relationships (ex: residential, consumer, commercial under $250,000 of indebtedness) are assigned a “Pass” rating, unless they have fallen 90 days past due or more, at which time they receive a rating of 7. The Corporation uses split ratings for government guaranties on loans. The portion of a loan that is supported by a government guaranty is included with other Pass credits. The determination of a commercial loan risk rating begins with completion of a matrix, which assigns scores based on the strength of the borrower’s debt service coverage, collateral coverage, balance sheet leverage, industry outlook, and customer concentration. A weighted average is taken of these individual scores to arrive at the overall rating. This rating is subject to adjustment by the loan officer based on facts and circumstances pertaining to the borrower. Risk ratings are subject to independent review. Commercial borrowers with ratings between 1 and 5 are considered Pass credits, with 1 being most acceptable and 5 being just above the minimum level of acceptance. Commercial borrowers rated 6 have potential weaknesses which may jeopardize repayment ability. Borrowers rated 7 have a well-defined weakness or weaknesses such as the inability to demonstrate significant cash flow for debt service based on analysis of the company’s financial information. These loans remain on accrual status provided full collection of principal and interest is reasonably expected. Otherwise they are deemed impaired and placed on nonaccrual status. Borrowers rated 8 are the same as 7 rated credits with one exception: collection or liquidation in full is not probable. The breakdown of loans by risk rating as of December 31, 2020 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass (1-5) 6 7 8 Total Commercial/industrial ​ $ 440,461 ​ $ 2,479 ​ $ 4,404 ​ $ — ​ $ 447,344 Commercial real estate - owner occupied ​ 520,075 ​ 5,844 ​ 23,700 ​ — ​ 549,619 Commercial real estate - non-owner occupied ​ 432,444 ​ — ​ 10,700 ​ — ​ 443,144 Construction and development ​ 139,693 ​ 21 ​ 328 ​ — ​ 140,042 Residential 1 ‑ ​ 543,163 ​ 456 ​ 2,199 ​ — ​ 545,818 Consumer ​ 30,359 ​ — ​ — ​ — ​ 30,359 Other ​ 38,054 ​ — ​ — ​ — ​ 38,054 ​ ​ $ 2,144,249 ​ $ 8,800 ​ $ 41,331 ​ $ — ​ $ 2,194,380 ​ The breakdown of loans by risk rating as of December 31, 2019 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass (1-5) 6 7 8 Total Commercial/industrial ​ $ 290,180 ​ $ 5,329 ​ $ 7,029 ​ $ — ​ $ 302,538 Commercial real estate - owner occupied ​ 422,336 ​ 5,603 ​ 31,843 ​ — ​ 459,782 Commercial real estate - non-owner occupied ​ 344,278 ​ 8,774 ​ 671 ​ — ​ 353,723 Construction and development ​ 132,266 ​ — ​ 30 ​ — ​ 132,296 Residential 1 ‑ ​ 447,630 ​ 256 ​ 719 ​ — ​ 448,605 Consumer ​ 29,430 ​ — ​ 32 ​ — ​ 29,462 Other ​ 10,440 ​ — ​ — ​ — ​ 10,440 ​ ​ $ 1,676,560 ​ $ 19,962 ​ $ 40,324 ​ $ — ​ $ 1,736,846 ​ The ALL represents management’s estimate of probable and inherent credit losses in the loan portfolio. Estimating the amount of the ALL requires the exercise of significant judgment and the use of estimates related to the amount and timing of expected future cash flows on impaired loans, estimated losses on pools of homogenous loans based on historical loss experience, and consideration of other qualitative factors such as current economic trends and conditions, all of which may be susceptible to significant change. The loan portfolio also represents the largest asset on the consolidated balance sheets. Loan losses are charged off against the ALL, while recoveries of amounts previously charged off are credited to the ALL. A provision for loan losses (“PFLL”) is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors. The ALL consists of specific reserves for certain individually evaluated impaired loans and general reserves for collectively evaluated non-impaired loans. Specific reserves reflect estimated losses on impaired loans from management’s analyses developed through specific credit allocations. The specific reserves are based on regular analyses of impaired, non-homogenous loans greater than $250,000. These analyses involve a high degree of judgment in estimating the amount of loss associated with specific loans, including estimating the amount and timing of future cash flows and collateral values. The general reserve is based in part on the Bank’s historical loss experience which is updated quarterly. The general reserve portion of the ALL also includes consideration of certain qualitative factors such as 1) changes in lending policies and/or underwriting practices, 2) national and local economic conditions, 3) changes in portfolio volume and nature, 4) experience, ability and depth of lending management and other relevant staff, 5) levels of and trends in past-due and nonaccrual loans and quality, 6) changes in loan review and oversight, 7) impact and effects of concentrations and 8) other issues deemed relevant. There are many factors affecting ALL; some are quantitative while others require qualitative judgment. The process for determining the ALL (which management believes adequately considers potential factors which might possibly result in credit losses) includes subjective elements and, therefore, may be susceptible to significant change. To the extent actual outcomes differ from management estimates, additional PFLL could be required that could adversely affect the Corporation’s earnings or financial position in future periods. Allocations of the ALL may be made for specific loans but the entire ALL is available for any loan that, in management’s judgment, should be charged off or for which an actual loss is realized. As an integral part of their examination process, various regulatory agencies review the ALL as well. Such agencies may require that changes in the ALL be recognized when such regulators’ credit evaluations differ from those of management based on information available to the regulators at the time of their examinations. A summary of impaired loans individually evaluated as of December 31, 2020 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - ​ Real Estate - ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial/ ​ Owner ​ Non-Owner ​ and ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Occupied ​ Occupied ​ Development ​ 1-4 Family ​ Consumer ​ Other ​ Total With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ 478 ​ $ — ​ $ 7,684 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 8,162 Unpaid principal balance ​ 478 ​ — ​ 7,684 ​ — ​ — ​ — ​ — ​ 8,162 Related allowance ​ 10 ​ — ​ 890 ​ — ​ — ​ — ​ — ​ 900 With no related allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ — ​ $ 1,171 ​ $ 992 ​ $ — ​ $ 260 ​ $ — ​ $ — ​ $ 2,423 Unpaid principal balance ​ — ​ 1,171 ​ 992 ​ — ​ 260 ​ — ​ — ​ 2,423 Related allowance ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ 478 ​ $ 1,171 ​ $ 8,676 ​ $ — ​ $ 260 ​ $ — ​ $ — ​ $ 10,585 Unpaid principal balance ​ 478 ​ 1,171 ​ 8,676 ​ — ​ 260 ​ — ​ — ​ 10,585 Related allowance ​ 10 ​ — ​ 890 ​ — ​ — ​ — ​ — ​ 900 Average recorded investment ​ $ 1,178 ​ $ 2,535 ​ $ 4,338 ​ $ — ​ $ 130 ​ $ — ​ $ — ​ $ 8,181 ​ A summary of impaired loans individually evaluated as of December 31, 2019 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - ​ Real Estate - ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial/ ​ Owner ​ Non-Owner ​ and ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Occupied ​ Occupied ​ Development ​ 1 ‑ 4 Family ​ Consumer ​ Other ​ Total With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ 1,878 ​ $ 960 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,838 Unpaid principal balance ​ 1,878 ​ 960 ​ — ​ — ​ — ​ — ​ — ​ 2,838 Related allowance ​ 760 ​ 80 ​ — ​ — ​ — ​ — ​ — ​ 840 With no related allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ — ​ $ 2,938 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,938 Unpaid principal balance ​ — ​ 2,938 ​ — ​ — ​ — ​ — ​ — ​ 2,938 Related allowance ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total: ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ 1,878 ​ $ 3,898 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,776 Unpaid principal balance ​ 1,878 ​ 3,898 ​ — ​ — ​ — ​ — ​ — ​ 5,776 Related allowance ​ 760 ​ 80 ​ — ​ — ​ — ​ — ​ — ​ 840 Average recorded investment ​ $ 3,773 ​ $ 5,847 ​ $ — ​ $ — ​ $ 351 ​ $ — ​ $ — ​ $ 9,971 ​ An analysis of interest income on impaired loans for the years ended December 31 follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Interest income in accordance with original terms ​ $ 683 ​ $ 651 ​ $ 1,020 Interest income recognized ​ (519) ​ (129) ​ (416) Reduction in interest income ​ $ 164 ​ $ 522 ​ $ 604 ​ The following table presents loans acquired with deteriorated credit quality as of December 31, 2020 and 2019. No loans in this table had a related allowance at December 31, 2020 and 2019, and therefore, the below disclosures were not expanded to include loans with and without a related allowance (dollar amounts in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ Recorded ​ Unpaid Principal ​ Recorded ​ Unpaid Principal ​ Investment Balance Investment Balance Commercial & Industrial ​ $ 805 ​ $ 907 ​ $ 191 ​ $ 212 Commercial real estate - owner occupied ​ 3,860 ​ 4,718 ​ 518 ​ 785 Commercial real estate - non-owner occupied ​ 1,245 ​ 1,410 ​ — ​ — Construction and development ​ 81 ​ 90 ​ 213 ​ 237 Residential 1 ‑ ​ 870 ​ 1,162 ​ 901 ​ 1,031 Consumer ​ — ​ — ​ — ​ — Other ​ — ​ — ​ — ​ — ​ ​ $ 6,861 ​ $ 8,287 ​ $ 1,823 ​ $ 2,265 ​ Due to the nature of these loan relationships, prepayment expectations have not been considered in the determination of future cash flows. Management regularly monitors these loan relationships, and if information becomes available that indicates expected cash flows will differ from initial expectations, it may necessitate reclassification between accretable and non-accretable components of the original discount calculation. The following table represents the change in the accretable and non-accretable components of discounts on loans acquired with deteriorated credit quality during the year ended December 31, 2020 and 2019 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ Accretable ​ Non-accretable ​ Accretable ​ Non-accretable ​ ​ discount ​ discount ​ discount ​ discount Balance at beginning of year ​ $ 222 ​ $ 220 ​ $ 318 ​ $ 745 Acquired balance, net ​ 1,064 ​ 727 ​ 44 ​ 333 Reclassifications between accretable and non-accretable ​ 771 ​ (771) ​ 858 ​ (858) Accretion to loan interest income ​ (807) ​ — ​ (998) ​ — Disposals of loans ​ — ​ — ​ — ​ — Balance at end of year ​ $ 1,250 ​ $ 176 ​ $ 222 ​ $ 220 ​ A TDR includes a loan modification where a borrower is experiencing financial difficulty and we grant a concession to that borrower that we would not otherwise consider except for the borrower’s financial difficulties. A TDR may be either on accrual or nonaccrual status based upon the performance of the borrower and management’s assessment of collectability. If a TDR is placed on nonaccrual status, it remains there until a sufficient period of performance under the restructured terms has occurred at which time it is returned to accrual status, generally six months. As of December 31, 2020 and 2019 the Corporation had no specific reserves for TDR’s. Loans modified under the guidance of the Cares Act are not considered TDRs and as such are not included in the tables below. The following table presents the troubled debt restructurings during the year ended December 31, 2020(dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pre-Modification ​ Post-Modification ​ ​ Number of ​ Outstanding Recorded ​ Outstanding Recorded ​ Contracts Investment Investment ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Real Estate 1 ​ $ 85 $ 85 Residential 1-4 Family 1 ​ 114 114 Totals ​ $ 199 $ 199 ​ The following table presents the troubled debt restructurings during the year ended December 31, 2019 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pre-Modification ​ Post-Modification ​ ​ ​ ​ ​ Outstanding ​ ​ Outstanding ​ ​ Number of ​ ​ Recorded ​ ​ Recorded ​ ​ Contracts ​ ​ Investment ​ ​ Investment Commercial & Industrial ​ 1 ​ $ 113 ​ $ 113 Commercial Real Estate ​ 1 ​ ​ 61 ​ ​ 61 Residential 1-4 Family ​ 2 ​ ​ 372 ​ ​ 196 Totals ​ ​ ​ $ 546 ​ $ 370 ​

Related Party Matters

Related Party Matters	12 Months Ended
	Dec. 31, 2020
Related Party Matters
Related Party Matters	Note 5 Related Party Matters Directors, executive officers, and principal shareholders of the Corporation, including their families and firms in which they are principal owners, are considered to be related parties. Loans to officers, directors, and shareholders owning 10% or more of the Corporation, that we are aware of, were made on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with others and did not involve more than the normal risk of collectability or present other unfavorable features. A summary of loans to directors, executive officers, principal shareholders, and their affiliates for the years ended December 31 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Balances at beginning ​ $ 68,554 ​ $ 84,103 New loans and advances ​ 54,723 ​ 27,886 Repayments ​ (56,181) ​ (43,435) Balance at end ​ $ 67,096 ​ $ 68,554 ​ Deposits from directors, executive officers, principal shareholders, and their affiliates totaled approximately $26,486,000 and $25,527,000 as of December 31, 2020 and 2019, respectively.

Mortgage Servicing Rights

Mortgage Servicing Rights	12 Months Ended
	Dec. 31, 2020
Mortgage Servicing Rights
Mortgage Servicing Rights	Note 6 Mortgage Servicing Rights Loans serviced for others are not included in the accompanying consolidated balance sheets. MSRs are recognized as separate assets when loans sold in the secondary market are sold with servicing retained. The Corporation utilizes a third party consulting firm to determine an accurate assessment of the mortgage servicing rights fair value. The third party firm collects relevant data points from numerous sources. Some of these data points relate directly to the pricing level or relative value of the mortgage servicing while other data points relate to the assumptions used to derive fair value. In addition, the valuation evaluates specific collateral types, and current and historical performance of the collateral in question. The valuation process focuses on the non-distressed secondary servicing market, common industry practices and current regulatory standards. The primary determinants of the fair value of mortgage servicing rights are servicing fee percentage, ancillary income, expected loan life or prepayment speeds, discount rates, costs to service, delinquency rates, foreclosure losses and recourse obligations. The valuation data also contains interest rate shock analyses for monitoring fair value changes in differing interest rate environments. Following is an analysis of activity for the years ended December 31 in servicing rights assets that are measured at fair value (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Fair value at beginning of year ​ $ 4,287 ​ $ 3,085 MSR asset acquired ​ ​ 384 ​ ​ 1,859 Servicing asset additions ​ 1,375 ​ 740 Loan payments and payoffs ​ (1,533) ​ (821) Changes in valuation inputs and assumptions used in the valuation model ​ (787) ​ (576) Amount recognized through earnings ​ (945) ​ (657) Fair value at end of year ​ $ 3,726 ​ $ 4,287 Unpaid principal balance of loans serviced for others ​ $ 612,707 ​ $ 554,374 Mortgage servicing rights as a percent of loans serviced for others ​ 0.61 ​ 0.77 ​ During the years ended December 31, 2020 and 2019, the Corporation utilized economic assumptions in measuring the initial value of MSRs for loans sold whereby servicing is retained by the Corporation. The economic assumptions used at December 31, 2020 and 2019 included constant prepayment speed of 16.3 and 12.1 months, respectively, and a discount rate of 10.28% and 10.00%, respectively. The constant prepayment speeds are obtained from publicly available sources for each of the Federal National Mortgage Association and Federal Home Loan Mortgage Corporation loan programs that the Corporation originates under. The assumptions used by the Corporation are hypothetical and supported by a third party valuation. The Corporation’s methodology for estimating the fair value of MSRs is highly sensitive to changes in assumptions. The carrying value of the mortgage servicing rights is included with intangible assets and approximates fair market value at December 31, 2020 and 2019. Changes in fair value are recognized through the income statement as loan servicing income.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2020
Premises and Equipment
Premises and Equipment	Note 7 Premises and Equipment An analysis of premises and equipment at December 31 follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Land and land improvements ​ $ 4,895 ​ $ 4,584 Buildings and building improvements ​ 39,773 ​ 31,754 Furniture and equipment ​ 5,826 ​ 5,360 Totals ​ 50,494 ​ 41,698 Less accumulated depreciation ​ 8,902 ​ 8,111 Right-of-use lease asset (see Note 21) ​ ​ 1,591 ​ ​ 1,699 Premises and equipment, net ​ $ 43,183 ​ $ 35,286 ​ Included in buildings and improvements at December 31, 2020 and 2019, is $1,843,000 and $6,169,000, respectively, in construction in progress. These amounts relate to branch locations which were under construction. These balances begin accumulating depreciation upon being placed in service. Depreciation and amortization of premises and equipment charged to operating expense totaled approximately $1,508,000, $1,272,000, and $1,116,000 for the years ended December 31, 2020, 2019, and 2018, respectively.

Other Real Estate Owned

Other Real Estate Owned	12 Months Ended
	Dec. 31, 2020
Other Real Estate Owned
Other Real Estate Owned	Note 8 Other Real Estate Owned Changes in OREO for the years ended December 31 were as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Beginning of year ​ $ 6,888 ​ $ 3,592 Transfers in ​ 1,892 ​ 4,927 Depreciation ​ (28) ​ — (Loss) gain on sale of OREO and valuation allowance ​ (1,395) ​ 73 Sales ​ (5,472) ​ (1,704) End of year ​ $ 1,885 ​ $ 6,888 ​ Activity in the valuation allowance for the years ended December 31 was as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Beginning of year ​ $ 2,121 ​ $ 2,208 ​ $ 2,078 Additions charged to expense ​ 356 ​ 13 ​ 130 Valuation relieved due to sale of OREO ​ (2,365) ​ (100) ​ — End of year ​ $ 112 ​ $ 2,121 ​ $ 2,208 ​

Investment in Minority-owned Su

Investment in Minority-owned Subsidiaries	12 Months Ended
	Dec. 31, 2020
Investment in Minority-owned Subsidiaries
Investment in Minority-owned Subsidiaries	Note 9 Investment in Minority-owned Subsidiaries The Corporation has a 49.8% membership interest in UFS. The business operations of UFS consist of providing data processing and other information technology services to the Corporation and other financial institutions. As of December 31, 2020 and 2019, UFS had total assets of $26,353,000 and $25,489,000 and liabilities of $3,133,000 and $3,660,000, respectively. The Corporation’s investment in UFS was $11,695,000 and $10,732,000 at December 31, 2020 and 2019, respectively. The investment is accounted for on the equity method. The Corporation’s undistributed earnings from its investment in UFS were approximately $3,066,000, $2,935,000, and $2,563,000 for the years ended December 31, 2020, 2019 and 2018, respectively. Data processing service fees paid by the Corporation to UFS were approximately $3,664,000, $3,248,000, and $2,514,000 for the years ended December 31, 2020, 2019 and 2018, respectively. The Corporation has a contract with UFS that was renewed for five years on January 1, 2018. The Corporation’s proportionate share of earnings of UFS flow through to its tax return. Deferred income taxes of approximately $1,469,000 and $1,124,000 were provided to account for the difference in the tax and book basis of assets and liabilities held at UFS at December 31, 2020 and 2019, respectively. During 2020, 2019 and 2018, the Corporation received $2,103,000, $2,108,000 and $1,505,000 in dividends from UFS, respectively. TVG, the insurance subsidiary of the Bank, maintained a 40.0%investment in Ansay at December 31, 2020 and 2019, an increase from 30.0% prior to a purchase of member interest on October 1, 2019. Ansay is an independent insurance agency that has operated in southeastern Wisconsin since 1946, managing the insurance and risk needs of commercial and personal insurance clients in Wisconsin and the Midwest. As of December 31, 2020 and 2019, Ansay had total assets of $77,177,000 and $79,781,000 and liabilities of $37,729,000 and $42,838,000, respectively. The Corporation’s investment in Ansay, which is accounted for using the equity method, was $30,583,000 and $29,555,000 at December 31, 2020 and 2019, respectively. The Corporation recognized undistributed earnings of approximately $2,740,000, $1,792,000 and $2,114,000 and received dividends of $1,712,000, $1,329,000 and $1,432,000 from its investment in Ansay during the years ended December 31, 2020, 2019 and 2018, respectively. As of December 31, 2020 and 2019, Ansay had term loans with the Bank totaling approximately $15,241,000 and $19,124,000, respectively. Ansay also has two available revolving lines of credit totaling $15,475,000 with the Corporation. There were no outstanding balances under these lines as of December 31, 2020. Ansay maintained deposits at the Bank totaling $12,924,000 and $17,495,000 as of December 31, 2020 and 2019, respectively. The CEO of Ansay, Michael G. Ansay, serves as Chairman of the Board of the Corporation. As a related party, during 2020, 2019 and 2018 the Corporation purchased director and officer fidelity bond and commercial insurance coverage through Ansay spending approximately $261,000, $225,000 and $165,000, respectively. The Corporation’s proportionate share of earnings of Ansay flow through to its tax return. Deferred income taxes of approximately $1,235,000 and $1,385,000 were provided to account for the difference in the tax and book basis of assets and liabilities held at Ansay as of December 31, 2020 and 2019, respectively.

Identifiable Intangible Assets

Identifiable Intangible Assets	12 Months Ended
	Dec. 31, 2020
Identifiable Intangible Assets
Identifiable Intangible Assets	Note 10  Identifiable Intangible Assets The gross carrying amount and accumulated amortization of intangible assets (excluding goodwill) for the years ended December 31 are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ Gross Intangible Gross Intangible ​ ​ Carrying ​ Accumulated ​ Carrying ​ Accumulated ​ ​ Amount ​ Amortization ​ Amount ​ Amortization Core deposit intangible ​ $ 9,030 ​ $ 3,589 ​ $ 7,333 ​ $ 1,954 Mortgage servicing rights ​ 3,726 ​ — ​ 4,287 ​ — Totals ​ $ 12,756 ​ $ 3,589 ​ $ 11,620 ​ $ 1,954 ​ Amortization expense was $1,636,000, $1,069,000 and $756,000 for the years ended December 31, 2020, 2019 and 2018, respectively. Mortgage servicing rights are carried at fair value; therefore, there is no amortization expense. The following table shows the estimated future amortization expense of amortizing intangible assets. The projections of amortization expense are based on existing asset balances as of December 31, 2020 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ Core ​ ​ Deposit ​ ​ Intangible 2021 ​ $ 1,405 2022 ​ 1,174 2023 ​ 942 2024 ​ 711 2025 ​ 496 Thereafter ​ 713 Total ​ $ 5,441 ​

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2020
Goodwill.
Goodwill	Note 11 Goodwill Goodwill was $55,472,000 and $43,456,000 at December 31, 2020 and 2019, respectively. As detailed in Note 2, there were additions of approximately $12,015,000 to the carrying amount of goodwill in 2020 related to the Timberwood acquisition.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2020
Deposits
Deposits	Note 12 Deposits The composition of deposits at December 31 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Noninterest-bearing demand deposits ​ $ 715,646 ​ $ 476,465 Interest-bearing demand deposits ​ 223,753 ​ 184,843 Savings deposits ​ 1,033,253 ​ 792,997 Time deposits ​ 329,154 ​ 373,430 Brokered certificates of deposit ​ 19,157 ​ 15,576 Total deposits ​ $ 2,320,963 ​ $ 1,843,311 ​ Time deposits of $250,000 or more were approximately $55,182,000 and $55,948,000 at December 31, 2020 and 2019, respectively. The scheduled maturities of time deposits at December 31, 2020, are summarized as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ 2021 $ 241,832 2022 ​ 54,483 2023 ​ 29,921 2024 ​ 9,269 2025 ​ 4,248 Thereafter ​ 8,558 Total ​ $ 348,311 ​

Securities Sold Under Repurchas

Securities Sold Under Repurchase Agreements	12 Months Ended
	Dec. 31, 2020
Securities Sold Under Repurchase Agreements
Securities Sold Under Repurchase Agreements	Note 13 Securities Sold Under Repurchase Agreements Securities sold under repurchase agreements have contractual maturities up to one year from the transaction date with variable and fixed rate terms. The agreements to repurchase securities require that the Corporation (seller) repurchase identical securities as those that are sold. The securities underlying the agreements were under the Corporation’s control. Information concerning securities sold under repurchase agreements at December 31 consists of the following (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Outstanding balance at the end of the year ​ $ 36,377 ​ $ 45,865 ​ $ 31,489 ​ Weighted average interest rate at the end of the year ​ 0.04 % 1.47 % 2.43 % Average balance during the year ​ $ 34,984 ​ $ 21,522 ​ $ 22,315 ​ Average interest rate during the year ​ 0.32 % 2.14 % 1.79 % Maximum month end balance during the year ​ $ 79,718 ​ $ 45,865 ​ $ 48,010 ​ ​ ​ ​ ​ ​ ​ ​

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2020
Notes Payable.
Notes Payable	Note 14 Notes Payable There were $23,338,000 and $39,800,000 of advances outstanding from the FHLB at December 31, 2020 and 2019, respectively. From time to time the Bank utilized short-term FHLB advances to fund liquidity during these years. The advances, rate, and maturities of FHLB advances as of December 31 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Maturity Rate 2020 2019 ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Fixed rate, fixed term 01/27/2020 1.42 % $ — ​ $ 1,000 Fixed rate, fixed term ​ 11/02/2020 ​ 1.28 % ​ — ​ ​ 400 Fixed rate, fixed term ​ 01/22/2021 ​ 1.67 % ​ 2,000 ​ ​ 2,000 Fixed rate, fixed term ​ 01/25/2021 ​ 2.37 % ​ 5,000 ​ ​ 5,000 Fixed rate, fixed term ​ 01/27/2021 ​ 1.60 % ​ 1,000 ​ ​ 1,000 Fixed rate, fixed term ​ 03/29/2021 ​ 0.00 % ​ 2,377 ​ ​ — Fixed rate, fixed term ​ 05/03/2021 ​ 2.87 % ​ 500 ​ ​ — Fixed rate, fixed term ​ 05/03/2021 ​ 0.00 % ​ 4,000 ​ ​ — Fixed rate, fixed term ​ 05/03/2021 ​ 0.00 % ​ 4,000 ​ ​ — Fixed rate, fixed term ​ 06/28/2021 ​ 2.00 % ​ 250 ​ ​ — Fixed rate, fixed term ​ 11/03/2021 ​ 1.46 % ​ 400 ​ ​ 400 Fixed rate, fixed term ​ 12/08/2021 ​ 2.87 % ​ 500 ​ ​ — Fixed rate, fixed term ​ 12/27/2021 ​ 1.99 % ​ 250 ​ ​ — Fixed rate, fixed term ​ 01/24/2022 ​ 2.51 % ​ 250 ​ ​ — Fixed rate, fixed term ​ 05/02/2022 ​ 2.98 % ​ 500 ​ ​ — Fixed rate, fixed term 06/08/2022 2.92 % 500 ​ — Fixed rate, fixed term 08/08/2022 1.76 % — ​ 10,000 Fixed rate, fixed term 11/21/2022 3.02 % 600 ​ — Fixed rate, fixed term 08/08/2023 1.74 % — ​ 10,000 Fixed rate, fixed term 11/21/2023 3.06 % 600 ​ — Fixed rate, fixed term 08/08/2024 1.75 % — ​ 10,000 Fixed rate, fixed term 01/04/2027 0.00 % 103 ​ — Fixed rate, fixed term 04/22/2030 0.00 % 508 ​ — ​ ​ ​ ​ ​ ​ $ 23,338 ​ $ 39,800 ​ Future maturities of borrowings were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ ​ ​ 1 year or less $ 20,277 ​ $ 1,400 1 to 2 years ​ ​ 1,850 ​ 8,400 2 to 3 years ​ ​ 600 ​ 10,000 3 to 4 years ​ ​ — ​ 10,000 4 to 5 years ​ ​ — ​ 10,000 Over 5 years ​ ​ 611 ​ ​ — ​ ​ $ 23,338 ​ $ 39,800 ​ At December 31, 2020 and 2019, respectively, total loans available to be pledged as collateral on FHLB borrowings were approximately $825,300,000 and $815,200,000 and, of that total, $374,100,000 and $373,100,000 qualified as eligible collateral. The Bank owned $3,353,000 and $2,230,000 of FHLB stock at December 31, 2020 and 2019, respectively. In addition to the fixed rate, fixed term advances noted above, as of December 31, 2020 and 2019, the Bank had $800,000 and $14,400,000 of credit outstanding from the FHLB, respectively, which consisted entirely of letters of credit. At December 31, 2020 and 2019, the Bank had available liquidity of $350,000,000 and $318,900,000 for future draws, respectively. FHLB stock is included in other investments at December 31, 2020 and 2019. This stock is recorded at cost, which approximates fair value. The Corporation maintained a $5,000,000 line of credit with a commercial bank. At December 31, 2019 the Corporation had outstanding balances on this note of $5,000,000. The note required monthly payments of interest at a variable rate, and was due in full on May 25, 2021. This agreement was terminated on July 22, 2020. The Corporation maintained a $5,000,000 line of credit with another commercial bank. At December 31, 2019 the Corporation had outstanding balances on this note of $5,000,000. This note was not renewed when it matured on May 19, 2020. The Corporation maintains a $7,500,000 line of credit with another commercial bank, which was entered into on May 15, 2020. There were no outstanding balances on this note at December 31, 2020. Any future borrowings will require monthly payments of interest at a variable rate, and will be due in full on May 15, 2021.

Subordinated Debt

Subordinated Debt	12 Months Ended
	Dec. 31, 2020
Subordinated Debt.
Subordinated Debt	Note 15 Subordinated Debt During September 2017, the Corporation entered into subordinated note agreements with three separate commercial banks. The Corporation had up to twelve months from entering these agreements to borrow funds up to a maximum availability of $22,500,000. As of December 31, 2020 and 2019, the Corporation had borrowed $11,500,000 under these agreements. These notes were all issued with 10-year maturities, carry interest at a variable rate payable quarterly, are callable on or after the sixth anniversary of their issuance dates, and qualify for Tier 2 capital for regulatory purposes. As part of the Partnership acquisition, the Corporation assumed a subordinated note agreement with an outstanding balance of $7,000,000, and a fair market value adjustment of $195,000. The note was set to mature on October 1, 2025, required quarterly interest-only payments at a rate of 7.1% prior to maturity, and could be prepaid without penalty on or after October 1, 2020. This note qualified for Tier 2 capital for regulatory purposes. This note was prepaid in full on October 1, 2020. On July 22, 2020, the Company entered into subordinated note agreements with two separate commercial banks. The Company had through December 31, 2020, to borrow funds up to a maximum availability of $6,000,000 under each agreement, or $12,000,000 total. These notes were issued with 10-year maturities, carry interest at a fixed rate of 5.0% through June 30, 2025, and at a variable rate thereafter, payable quarterly. These notes are callable on or after January 1, 2026 and qualify for Tier 2 capital for regulatory purposes. The Company had outstanding balances of $6,000,000 under these agreements at December 31, 2020.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Taxes
Income Taxes	Note 16 Income Taxes The components of the provision for income taxes for the years ended December 31 are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Current tax expense: ​ ​ ​ Federal ​ $ 8,181 ​ $ 4,327 ​ $ 3,349 State ​ 3,766 ​ 2,412 ​ 2,100 Total current ​ 11,947 ​ 6,739 ​ 5,449 Deferred tax expenses (benefit): ​ ​ ​ ​ ​ Federal ​ (82) ​ 620 ​ 815 State ​ (34) ​ 236 ​ 333 Total deferred ​ (116) ​ 856 ​ 1,148 Total provision for income taxes ​ $ 11,831 ​ $ 7,595 ​ $ 6,597 ​ A summary of the sources of differences between income taxes at the federal statutory rate and the provision for income taxes for the years ended December 31 follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Tax expense at statutory rate ​ $ 10,474 ​ $ 7,201 ​ $ 6,731 Increase (decrease) in taxes resulting from: ​ ​ ​ ​ ​ Tax-exempt interest ​ (1,369) ​ (1,320) ​ (1,105) State taxes (net of Federal benefit) ​ 2,987 ​ 1,923 ​ 1,674 Cash surrender value of life insurance ​ (156) ​ (131) ​ (128) ESOP dividend ​ (78) ​ (93) ​ (81) Tax credits ​ — ​ (39) ​ (91) Nondeductible expenses associated with acquisition ​ 71 ​ — ​ — Other ​ (98) ​ 54 ​ (403) Total provision for income taxes ​ $ 11,831 ​ $ 7,595 ​ $ 6,597 ​ Deferred income taxes are provided for the temporary differences between the financial reporting basis and the tax basis of the Corporation’s assets and liabilities. Deferred taxes are included in other liabilities of the balance sheet. The major components of the net deferred tax asset (liability) as of December 31 are presented below (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Deferred tax assets: ​ ​ Deferred compensation ​ $ 95 ​ $ 1,036 Premises and equipment ​ 59 ​ 398 Allowance for loan losses ​ 4,810 ​ 3,104 Accrued vacation and severance ​ 35 ​ 35 Other real estate owned ​ 68 ​ 360 Other ​ 464 ​ 244 Total deferred tax assets ​ 5,531 ​ 5,177 Deferred tax liabilities: ​ ​ ​ ​ Investment in acquisition and discount accretion ​ (122) ​ (148) Mortgage servicing rights ​ (1,006) ​ (1,168) Other investments ​ (309) ​ (248) Prepaid expenses ​ (71) ​ (63) Investment in minority owned subsidiaries ​ (2,704) ​ (2,509) Goodwill and other intangibles ​ (963) ​ (1,000) Purchase accounting ​ (538) ​ (339) Unrealized gain on securities available for sale ​ (2,129) ​ (743) Total deferred tax liabilities ​ (7,842) ​ (6,218) Net deferred tax liability ​ $ (2,311) ​ $ (1,041) ​ Tax effects from an uncertain tax position can be recognized in the financial statements only if the position is more likely than not to be sustained on audit, based on the technical merits of the position. The Corporation recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. When applicable, interest and penalties on uncertain tax positions are calculated based on the guidance from the relevant tax authority and included in income tax expense. At December 31, 2020 and 2019, there was no liability for uncertain tax positions. Federal income tax returns for 4 years ended December 31, 2017 through 2020 remain open and subject to review by applicable tax authorities. State income tax returns for 5 years ended December 31, 2016 through 2020 remain open and subject to review by applicable tax authorities.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2020
Employee Benefit Plans
Employee Benefit Plans	Note 17 Employee Benefit Plans Employee Stock Ownership Plan The Corporation has a defined contribution profit sharing 401(k) plan which includes the provisions for an employee stock ownership plan (“ESOP”). The plan is available to all employees over 18 years of age after completion of three months of service. Employees participating in the plan may elect to defer a minimum of 2% of compensation up to the limits specified by law. All participants of the 401(k) plan are eligible for the ESOP and may allocate their contributions to purchase shares of the Corporation’s stock. As of December 31, 2020 and 2019, the plan held 361,787 and 432,795 shares, respectively. These shares are included in the calculation of the Corporation’s earnings per share. The Corporation may make discretionary contributions up to the limits established by IRS regulations. The discretionary match was 35% of participant contributions up to 10% of the employee’s salary in 2020, 2019, and 2018. The Corporation made additional discretionary contributions to the plan of $733,000, $505,000, $656,000 in 2020, 2019 and 2018, respectively. Total expense associated with the plans was approximately $1,272,000, $957,000 and $1,061,000 in 2020, 2019 and 2018, respectively. Share-based Compensation The Corporation has made restricted share grants during 2020, 2019 and 2018 pursuant to the Bank First National Corporation 2011 Equity Plan and the Bank First Corporation 2020 Equity Plan, which replaced the 2011 Plan.The purpose of the Plan is to provide financial incentives for selected employees and for the non-employee Directors of the Corporation, thereby promoting the long-term growth and financial success of the Corporation. The Corporation stock to be offered under the Plan pursuant to Stock Appreciation Rights, performance unit awards, and restricted stock and unrestricted Corporation stock awards must be Corporation stock previously issued and outstanding and reacquired by the Corporation. The number of shares of Corporation stock that may be issued pursuant to awards under the 2020 Plan shall not exceed, in the aggregate, 700,000. As of December 31, 2020, 399 shares of Corporation stock has been awarded under the 2020 Plan. Compensation expense for restricted stock is based on the fair value of the awards of Bank First Corporation common stock at the time of grant. The value of restricted stock grants that are expected to vest is amortized into expense over the vesting periods. For the year ended December 31, 2020, 2019 and 2018, compensation expense of $1,081,000, $685,000 and $ 556,000, respectively, was recognized related to restricted stock awards. As of December 31, 2020, there was $2,015,000 of unrecognized compensation cost related to non-vested restricted stock awards granted under the plan. That cost is expected to be recognized over a weighted average period of 2.59 years. The aggregate grant date fair value of restricted stock awards that vested during 2020 was approximately $694,000. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ For the year ended ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ Weighted- ​ Weighted- ​ ​ ​ ​ Average Grant- ​ ​ ​ Average Grant- ​ ​ Shares ​ Date Fair Value ​ Shares ​ Date Fair Value Restricted Stock ​ ​ Outstanding at beginning of year 50,676 ​ $ 43.03 51,776 ​ $ 34.27 Granted 27,466 ​ 60.76 17,015 ​ 56.62 Vested (18,623) ​ 37.28 (17,212) ​ 30.54 Forfeited or cancelled (2,344) ​ 51.27 (903) ​ 41.01 Outstanding at end of year 57,175 ​ $ 53.08 50,676 ​ $ 43.03 ​ Deferred Compensation Plan The Corporation has a deferred compensation agreement with one of its former executive officers. The benefits were payable beginning June 30, 2009, the date of termination of employment with the Corporation via retirement. The estimated annual cash benefit payment upon retirement at the age of 70 under the salary continuation plan is $108,011. The payoff is for the participant’s lifetime and is guaranteed to the participant or their surviving beneficiary for a minimum of 15 years. Related expense for this agreement was approximately $ 19,000, $23,000, and $28,000 for the years ended December 31, 2020, 2019 and 2018, respectively. The vested present value of future payments of approximately $ 348,000 and $437,000 at December 31, 2020 and 2019, respectively, is included in other liabilities. During 2020 and 2019 the discount rate used to present value the future payments of this obligation was 4.95%. The Corporation had a nonqualified deferred compensation plan which permitted eligible participants to defer a portion of their compensation. There was no expense associated with this plan during 2020 or 2019. On February 19, 2019, the Board of Directors of Bank First Corporation approved the termination of the Bank First National Amended and Restated Nonqualified Deferred Compensation Plan, effective March 1, 2019. As a result of this termination, all benefits owed were to be paid no sooner than one year and no later than two years following the termination. All benefits owed under this plan were paid during March 2020. As of December 31, 2019, the obligations under this plan were valued at $3,368,000, and were included in other liabilities.

Stockholders' Equity and Regula

Stockholders' Equity and Regulatory Matters	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity and Regulatory Matters
Stockholders' Equity and Regulatory Matters	Note 18 Stockholders’ Equity and Regulatory Matters The Bank, as a national bank, is subject to the dividend restrictions set forth by the Office of the Comptroller of the Currency. Under such restrictions, the Bank may not, without the prior approval of the Office of the Comptroller of the Currency, declare dividends in excess of the sum of the current year’s earnings (as defined) plus the retained earnings (as defined) from the prior two years. The dividends that the Bank could declare without the prior approval of the Office of the Comptroller of the Currency as of December 31, 2020 totaled approximately $56,200,000. The payment of dividends may be further limited because of the need for the Bank to maintain capital ratios satisfactory to applicable regulatory agencies. Banks and certain bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and , additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The Economic Growth, Regulatory Relief, and Consumer Protection Act, signed into law in May 2018 raised the threshold for those bank holding companies subject to the Federal Reserve's Small Bank Holding Company Policy Statement to $3 billion. As a result, as of the effective date of that change in 2018, the Corporation was no longer required to comply with the risk-based capital rules applicable to the Bank. The Federal Reserve may, however, require smaller bank holding companies to maintain certain minimum capital levels, depending upon general economic conditions and a bank holding company's particular condition, risk profile and growth plans. Under regulatory guidance for non-advanced approaches institutions, the Bank is required to maintain minimum amounts and ratios of common equity Tier I capital to risk-weighted assets, including an additional conservation buffer determined by banking regulators. As of December 31, 2020 and 2019, this buffer was 2.50%. As of December 31, 2020 and 2019, the Bank met all capital adequacy requirements to which they are subject. ​ Actual and required capital amounts and ratios are presented below (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To Be Well ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ Capitalized Under ​ ​ ​ ​ ​ ​ ​ For Capital ​ Adeqaucy with ​ Prompt Corrective ​ ​ Actual ​ Adequacy Purposes ​ Capital Buffer ​ Action Provisions ​ Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2020 ​ ​ ​ ​ ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ Corporation ​ $ 263,344 11.74 % ​ NA NA ​ ​ NA NA ​ ​ NA NA ​ Bank ​ $ 263,129 11.73 % $ 179,420 8.00 % $ 235,489 10.50 % $ 224,275 10.00 % Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ Corporation ​ $ 228,186 10.17 % ​ NA NA ​ ​ NA NA ​ NA NA ​ Bank ​ $ 245,471 10.95 % $ 134,565 6.00 % $ 190,634 8.50 % $ 179,420 8.00 % Common Equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ Corporation ​ $ 228,186 10.17 % ​ NA NA ​ ​ NA NA ​ NA NA ​ Bank ​ $ 245,471 10.95 % $ 100,924 4.50 % $ 156,993 7.00 % $ 145,779 6.50 % Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ Corporation ​ $ 228,186 8.74 % ​ NA NA ​ NA NA ​ NA NA ​ Bank ​ $ 245,471 9.46 % $ 103,814 4.00 % $ 103,814 4.00 % $ 129,768 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To Be Well ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ Capitalized Under ​ ​ ​ ​ ​ ​ ​ For Capital ​ Adequacy with ​ Prompt Corrective ​ ​ Actual ​ Adequacy Purposes ​ Capital Buffer ​ Action Provisions ​ Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ Corporation ​ $ 208,900 10.35 % ​ NA NA ​ ​ NA NA ​ ​ NA NA ​ Bank ​ $ 215,347 10.69 % $ 161,163 8.00 % $ 211,527 10.50 % $ 201,454 10.00 % Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ Corporation ​ $ 178,882 8.86 % ​ NA NA ​ ​ NA NA ​ NA NA ​ Bank ​ $ 203,951 10.12 % $ 120,872 6.00 % $ 171,236 8.50 % $ 161,163 8.00 % Common Equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ Corporation ​ $ 178,882 8.86 % ​ NA NA ​ ​ NA NA ​ NA NA ​ Bank ​ $ 203,951 10.12 % $ 90,654 4.50 % $ 141,018 7.00 % $ 130,945 6.50 % Tier 1 capital (to average assets): ​ ​ ​ ​ ​ Corporation ​ $ 178,882 8.46 % ​ NA NA ​ NA NA ​ NA NA ​ Bank ​ $ 203,951 9.67 % $ 84,390 4.00 % $ 84,390 4.00 % $ 105,487 5.00 % ​

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Information
Segment Information	Note 19 Segment Information The Corporation, through the branch network of its subsidiary, the Bank, provides a full range of consumer and commercial financial institution services to individuals and businesses in Wisconsin. These services include credit cards; secured and unsecured consumer, commercial, and real estate loans; demand, time, and savings deposits; and ATM processing. The Corporation also offers a full-line of insurance services through its equity investment in Ansay and offers data processing services through its equity investment in UFS. While the Corporation’s chief decision makers monitor the revenue streams of various Corporation products and services, operations are managed and financial performance is evaluated on a Corporation-wide basis. Accordingly, all of the Corporation’s financial institution operations are considered by management to be aggregated in one reportable operating segment.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	Note 20 Commitments and Contingencies The Corporation enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding (rate lock commitments). Rate lock commitments on mortgage loans that are intended to be sold are considered to be derivatives. Accordingly, such commitments, along with any related fees received from potential borrowers, are recorded at fair value in derivative assets or liabilities, with changes in fair value recorded in the net gain or loss on sale of mortgage loans. Fair value is based on fees currently charged to enter into similar agreements and for fixed rate commitments also considers the difference between current levels of interest rates and committed rates. The notional amount of rate lock commitments at December 31, 2020 and 2019, respectively, was $69,600,000 and $14,793,000. The Bank is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The Bank’s exposure to credit loss is represented by the contractual or notional amount of these commitments. The Bank follows the same credit policies in making commitments as it does for on-balance-sheet instruments. Since some of the commitments are expected to expire without being drawn upon and some of the commitments may not be drawn upon to the total extent of the commitment, the notional amount of these commitments does not necessarily represent future cash requirements. The following commitments were outstanding at December 31 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount ​ ​ 2020 2019 Commitments to extend credit: ​ ​ Fixed ​ $ 72,298 ​ $ 49,741 Variable ​ 388,738 ​ 333,468 Credit card arrangements ​ 10,867 ​ 11,148 Letters of credit ​ 7,567 ​ 17,121 ​ Commitments to extend credit are agreements to lend to a customer at fixed or variable rates as long as there is no violation of any condition established in the contract. Commitments have fixed expiration dates or other termination clauses and may require payment of a fee. The amount of collateral obtained upon extension of credit is based on management’s credit evaluation of the customer. Collateral held varies but may include accounts receivable; inventory; property, plant, and equipment; real estate; and stocks and bonds. Letters of credit include $897,000 of direct pay letters of credit and $6,671,000 of standby letters of credit. Direct pay letters of credit generally are issued to support the marketing of industrial development revenue and housing bonds and provide that all debt service payments will be paid by drawing on the letter of credit. The letter of credit draws are then repaid by draws from the customer’s bank account. Standby letters of credit are conditional lending commitments issued by the Corporation to guaranty the performance of a customer to a third party. Generally, all standby letters of credit issued have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Corporation generally holds collateral supporting these commitments. The majority of the Corporation’s loans, commitments, and letters of credit have been granted to customers in the Corporation’s market area. The concentrations of credit by type are set forth in Note 4. Standby letters of credit were granted primarily to commercial borrowers. Management believes the diversity of the local economy will prevent significant losses in the event of an economic downturn.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases
Leases	Note 21 Leases In accordance with GAAP, leases where the Corporation is the lessee are recognized on-balance sheet through a right-of-use (“ROU”) model that requires recognition of a ROU lease asset and liability The Corporation leases certain properties under operating leases that resulted in the recognition of ROU lease assets of approximately $1,591,000 and $1,699,000 and corresponding lease liabilities of the same value on the Corporation’s Consolidated Balance Sheets as of December 31, 2020 and 2019, respectively. GAAP provides a number of optional practical expedients in transition. The Corporation has elected the ‘package of practical expedients,’ which permits the Corporation not to reassess under the new standard the prior conclusions about lease identification, lease classification and initial direct costs. The Corporation also elected the use of the hindsight, a practical expedient which permits the use of information available after lease inception to determine the lease term via the knowledge of renewal options exercised not available as of the leases inception. The Corporation elected the short-term lease recognition exemption for all leases that qualify, meaning those with terms under twelve months. ROU assets or lease liabilities are not to be recognized for short-term leases. The Corporation also elected the practical expedient to not separate lease and non-lease components for all leases, the majority of which consist of real estate common area maintenance expenses. However, since these non-lease items are subject to change, they are treated and disclosed as variable payments in the quantitative disclosures below. Lessee Leases The Corporation’s lessee leases are operating leases, and consist of leased real estate for branches. Options to extend and renew leases are generally exercised under normal circumstances. Advance notification is required prior to termination, and any noticing period is often limited to the months prior to renewal. Rent escalations are generally specified by a payment schedule, or are subject to a defined formula. The Corporation also elected the practical expedient to not separate lease and non-lease components for all leases, the majority of which consist of real estate common area maintenance expenses. Generally, leases do not include guaranteed residual values, but instead typically specify that the leased premises are to be returned in satisfactory condition with the Corporation liable for damages. For operating leases, the lease liability and ROU asset (before adjustments) are recorded at the present value of future lease payments. The Corporation is electing to utilize the Wall Street Journal Prime Rate on the date of lease commencement as the lease interest rate. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, 2020 December 31, 2019 ​ ​ (dollar amounts in Thousands) Amortization of ROU Assets - Operating Leases ​ $ 108 ​ $ 45 ​ Interest on Lease Liabilities - Operating Leases ​ 26 ​ ​ 87 ​ Operating Lease Cost (Cost resulting from lease payments) ​ 133 ​ ​ 132 ​ New ROU Assets - Operating Leases ​ — ​ ​ 1,744 ​ Weighted Average Lease Term (Years) - Operating Leases ​ 32.75 ​ ​ 31.56 ​ Weighted Average Discount Rate - Operating Leases ​ ​ 5.50 % ​ 5.50 % ​ A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liabilities is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 December 31, 2029 Operating lease payments due: ​ ​ ​ ​ Within one year ​ $ 98 ​ $ 133 After one but within two years ​ ​ 86 ​ 140 After two but within three years ​ ​ 86 ​ 113 After three but within four years ​ ​ 85 ​ 86 After four years but within five years ​ ​ 85 ​ 86 After five years ​ ​ 3,325 ​ 3,411 Total undiscounted cash flows ​ ​ 3,765 ​ 3,969 Discount on cash flows ​ ​ (2,174) ​ (2,270) Total operating lease liabilities ​ $ 1,591 ​ $ 1,699 ​

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Note 22 Fair Value of Financial Instruments Accounting guidance establishes a fair value hierarchy to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value. ​ ​ ​ Level 1: Quoted prices (unadjusted) or identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. ​ ​ Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. ​ ​ Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. ​ Information regarding the fair value of assets measured at fair value on a recurring basis is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Instruments Markets Other Significant ​ ​ Measured ​ for Identical ​ Observable ​ Unobservable ​ ​ At Fair ​ Assets ​ Inputs ​ Inputs ​ ​ Value ​ (Level 1) ​ (Level 2) ​ (Level 3) December 31, 2020 ​ ​ ​ ​ Assets ​ ​ ​ ​ Securities available for sale ​ ​ ​ ​ ​ Obligations of U.S.Government sponsored agencies ​ $ 18,779 ​ $ — ​ $ 18,779 ​ $ — Obligations of states and political subdivisions ​ 72,217 ​ — ​ 72,217 ​ — Mortgage-backed securities ​ 44,199 ​ — ​ 44,199 ​ — Corporate notes ​ 27,743 ​ — ​ 27,743 ​ — Certificates of deposit ​ ​ 2,101 ​ ​ — ​ ​ 2,101 ​ ​ — Mortgage servicing rights ​ 3,726 ​ — ​ 3,726 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ Assets ​ ​ ​ ​ Securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 12,060 ​ $ — ​ $ 12,060 ​ $ — Obligations of states and political subdivisions ​ ​ 54,771 ​ — ​ 54,771 ​ ​ — Mortgage-backed securities ​ 51,720 ​ — ​ 51,720 ​ — Corporate notes ​ 62,955 ​ — ​ 62,955 ​ — Mortgage servicing rights ​ ​ 4,287 ​ ​ — ​ ​ 4,287 ​ ​ — ​ Fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Total securities at beginning of year ​ $ — ​ $ 400 Included in earnings ​ — ​ — Included in other comprehensive income ​ — ​ — Purchases, issuance, and settlements ​ — ​ (400) Transfer in and/or out of level 3 ​ — ​ — Total securities at end of year ​ $ — ​ $ — ​ Information regarding the fair value of assets measured at fair value on a non-recurring basis is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ In Active ​ Significant ​ ​ ​ ​ ​ Assets ​ Markets ​ Other ​ Significant ​ ​ Measured ​ for Identical ​ Observable ​ Unobservable ​ ​ At Fair ​ Assets ​ Inputs ​ Inputs ​ ​ Value ​ (Level 1) ​ (Level 2) ​ (Level 3) December 31, 2020 ​ ​ ​ ​ OREO ​ $ 1,885 ​ $ — ​ $ — ​ $ 1,885 Impaired Loans, net of impairment reserve ​ 16,784 ​ — ​ — ​ 16,784 ​ ​ $ 18,669 ​ $ — ​ $ — ​ $ 18,669 December 31, 2019 ​ ​ ​ ​ OREO ​ $ 6,888 ​ $ — ​ $ — ​ $ 6,888 Impaired Loans, net of impairment reserve ​ 6,847 ​ — ​ — ​ 6,847 ​ ​ $ 13,735 ​ $ — ​ $ — ​ $ 13,735 ​ The following is a description of the valuation methodologies used by the Corporation for the items noted in the table above, including the general classification of such instruments in the fair value hierarchy. For individually evaluated impaired loans, the amount of impairment is based upon the present value of expected future cash flows discounted at the loan’s effective interest rate, the estimated fair value of the underlying collateral for collateral-dependent loans, or the estimated liquidity of the note. For OREO, the fair value is based upon the estimated fair value of the underlying collateral adjusted for the expected costs to sell. The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Unobservable ​ Range of ​ Average ​ ​ Valuation Technique ​ Inputs ​ Discounts Discount ​ As of December 31, 2020 ​ OREO Third party appraisals, sales contracts or brokered price opinions Collateral discounts and estimated costs to sell 23%-100 % 40.2 % Impaired loans Third party appraisals and discounted cash flows Collateral discounts and discount rates 0%-100 % 7.8 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ OREO Third party appraisals, sales contracts or brokered price opinions Collateral discounts and estimated costs to sell 0% - 61 % 33.5 % Impaired loans Third party appraisals and discounted cash flows Collateral discounts and discount rates 0% - 100 % 6.1 % ​ The following methods and assumptions were used by the Corporation to estimate fair value of financial instruments. Cash and cash equivalents Securities Loans held for sale Loans Other investments Mortgage servicing rights Cash value of life insurance Deposits Securities sold under repurchase agreements Notes payable and Subordinated notes Off-balance-sheet instruments The carrying value and estimated fair value of financial instruments at December 31 follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value ​ amount Level 1 Level 2 Level 3 Total December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 170,219 ​ $ 170,219 ​ $ — ​ $ — ​ $ 170,219 Securities held to maturity ​ 6,669 ​ — ​ 6,688 ​ — ​ 6,688 Securities available for sale ​ 165,039 ​ — ​ 165,039 ​ — ​ 165,039 Loans held for sale ​ 809 ​ — ​ — ​ 809 ​ 809 Loans, net ​ 2,173,802 ​ — ​ — ​ 2,168,865 ​ 2,168,865 Other investments, at cost ​ 8,896 ​ — ​ — ​ 8,896 ​ 8,896 Mortgage servicing rights ​ 3,726 ​ — ​ 3,726 ​ — ​ 3,726 Cash surrender value of life insurance ​ 31,394 ​ 31,394 ​ — ​ — ​ 31,394 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ $ 2,320,963 ​ $ — ​ $ — ​ $ 2,309,489 ​ $ 2,309,489 Securities sold under repurchase agreements ​ 36,377 ​ — ​ 36,377 ​ — ​ ​ 36,377 Notes payable ​ ​ 23,469 ​ ​ — ​ ​ 23,469 ​ ​ — ​ ​ 23,469 Subordinated notes ​ 17,500 ​ ​ — ​ ​ 17,500 ​ ​ — ​ ​ 17,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ amount ​ Level 1 ​ Level 2 ​ Level 3 ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 86,452 ​ $ 86,452 ​ $ — ​ $ — ​ $ 86,452 Securities held to maturity ​ 43,734 ​ — ​ 44,803 ​ — ​ 44,803 Securities available for sale ​ 181,506 ​ — ​ 181,506 ​ — ​ 181,506 Loans held for sale ​ 587 ​ — ​ — ​ 587 ​ 587 Loans, net ​ 1,724,947 ​ — ​ — ​ 1,723,542 ​ 1,723,542 Other investments, at cost ​ 4,933 ​ — ​ — ​ 4,933 ​ 4,933 Mortgage servicing rights ​ 4,287 ​ — ​ 4,287 ​ — ​ 4,287 Cash surrender value of life insurance ​ ​ 24,945 ​ 24,945 ​ — ​ — ​ 24,945 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ $ 1,843,311 ​ $ — ​ $ — ​ $ 1,783,638 ​ $ 1,783,638 Securities sold under repurchase agreements ​ 45,865 ​ ​ — ​ ​ 45,865 ​ ​ — ​ ​ 45,865 Notes payable ​ ​ 49,790 ​ — ​ 49,790 ​ — ​ ​ 49,790 Subordinated notes ​ 18,622 ​ ​ — ​ ​ 18,622 ​ ​ — ​ ​ 18,622 ​ 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 quoted market prices for the Corporation’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Consequently, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Corporation. Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Corporation’s entire holdings of a particular instrument. Because no market exists for a significant portion of the Corporation’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters that could affect the estimates. Fair value estimates are based on existing on- and off-balance-sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. ​ Deposits with no stated maturities are defined as having a fair value equivalent to the amount payable on demand. This prohibits adjusting fair value derived from retaining those deposits for an expected future period of time. This component, commonly referred to as a deposit base intangible, is neither considered in the above amounts nor is it recorded as an intangible asset on the consolidated balance sheet. Significant assets and liabilities that are not considered financial assets and liabilities include premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Parent Company Only Financial S

Parent Company Only Financial Statements	12 Months Ended
	Dec. 31, 2020
Parent Company Only Financial Statements
Parent Company Only Financial Statements	Note 23 Parent Company Only Financial Statements Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31 ​ 2020 2019 ​ ​ (In Thousands) Assets ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,584 ​ $ 63 Investment in Bank ​ 312,142 ​ 254,299 Investment in Veritas ​ 39 ​ 4,852 Other assets ​ 8 ​ 557 TOTAL ASSETS ​ $ 313,773 ​ $ 259,771 Liabilities and Stockholders’ Equity ​ ​ Liabilities ​ ​ Notes payable ​ $ — ​ $ 10,000 Subordinated notes ​ 17,500 ​ 18,500 Other liabilities ​ 1,416 ​ 1,060 Total liabilities ​ 18,916 ​ 29,560 Stockholders’ equity: ​ ​ Common stock ​ 85 ​ 79 Additional paid-in capital ​ 92,847 ​ 63,085 Retained earnings ​ 221,393 ​ 189,494 Treasury stock, at cost ​ (25,227) ​ (24,941) Accumulated other comprehensive income ​ 5,759 ​ 2,494 Total stockholders’ equity ​ 294,857 ​ 230,211 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY ​ $ 313,773 ​ $ 259,771 ​ ​ Statements of Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31 ​ 2020 2019 2018 ​ ​ (In Thousands) Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends received from Bank ​ $ 21,406 ​ $ 16,335 ​ $ 22,275 Equity in undistributed earnings of subsidiaries ​ 18,104 ​ 11,361 ​ 4,029 Other income ​ (7) ​ 234 ​ 74 Total income ​ 39,503 ​ 27,930 ​ 26,378 Other expenses ​ 2,005 ​ 1,611 ​ 1,404 Benefit for income taxes ​ (548) ​ (375) ​ (482) Net income ​ $ 38,046 ​ $ 26,694 ​ $ 25,456 ​ Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2020 2019 2018 ​ ​ (In thousands) Cash flow from operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 38,046 ​ $ 26,694 ​ $ 25,456 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ Stock compensation ​ 1,081 ​ 685 ​ 556 Equity in earnings of subsidiaries (includes dividends) ​ (39,410) ​ (27,696) ​ (26,304) Changes in other assets and liabilities: ​ ​ ​ ​ Other assets ​ 606 ​ (329) ​ (49) Other liabilities ​ 478 ​ (33) ​ (90) Net cash provided by (used in) operating activities ​ 801 ​ (679) ​ (431) Cash flows from investing activities, net of effects of business combination: ​ ​ ​ Sale of other investments ​ — ​ 750 ​ — Dividends received from Bank ​ 21,406 ​ 16,335 ​ 22,275 Dividends received from Veritas ​ 2,121 ​ — ​ — Net cash used in business combination ​ (4,474) ​ (14,241) ​ — Contribution to subsidiaries ​ (65) ​ (2,620) ​ — Net cash provided by investing activities ​ 18,988 ​ 224 ​ 22,275 Cash flows from financing activities, net of effects of business combination: ​ ​ ​ Repayment of notes payable ​ (10,000) ​ — ​ (8,500) Proceeds from notes payable ​ ​ — ​ ​ 10,000 ​ ​ — Repayment of subordinate notes ​ (7,122) ​ ​ ​ ​ Proceeds from subordinated notes ​ 6,000 ​ — ​ — Cash dividends paid ​ (6,147) ​ (5,463) ​ (4,530) Issuance of common stock ​ 3,368 ​ 114 ​ 1,347 Repurchase of common stock ​ (4,367) ​ (4,205) ​ (10,449) Net cash (used in) provided by financing activities ​ (18,268) ​ 446 ​ (22,132) Net increase (decrease) in cash and cash equivalents ​ 1,521 ​ (9) ​ (288) Cash and cash equivalents at beginning ​ 63 ​ 72 ​ 360 Cash and cash equivalents at end ​ $ 1,584 ​ $ 63 ​ $ 72 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental schedule of noncash activities: ​ ​ ​ Amortization of unrealized holding gains on securities transferred from available for sale to held to maturity recognized in other comprehensive income, net of tax ​ ​ (81) ​ $ (35) ​ $ (60) Change in unrealized gains and losses on investment securities available for sale, net of tax ​ 3,756 ​ 2,958 ​ (1,367) ​

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Common Share
Earnings Per Common Share	Note 24 Earnings Per Common Share See Note 1 for the Corporation’s accounting policy regarding per share computations. Earnings per common share, earnings per share assuming dilution,and related information are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, ​ 2020 2019 2018 Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income available to common shareholders ​ $ 38,046 ​ $ 26,694 ​ $ 25,456 Less: Earnings allocated to participating securities ​ $ (287) ​ $ (200) ​ $ — Net income allocated to common shareholders ​ $ 37,759 ​ $ 26,494 ​ $ 25,456 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding including participating securities ​ ​ 7,497,862 ​ ​ 6,820,225 ​ ​ 6,673,758 Less: Participating securities (1) ​ ​ (56,606) ​ ​ (51,226) ​ ​ — Average shares ​ ​ 7,441,256 ​ ​ 6,768,999 ​ ​ 6,673,758 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common shares ​ $ 5.07 ​ $ 3.91 ​ $ 3.81 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income available to common shareholders ​ $ 38,046 ​ $ 26,694 ​ $ 25,456 Weighted average common shares outstanding for basic earnings per common share ​ ​ 7,441,256 ​ ​ 6,768,999 ​ ​ 6,673,758 Add: Dilutive effects of stock based compensation awards ​ ​ 39,821 ​ ​ 110,385 ​ ​ — Average shares and dilutive potential common shares ​ ​ 7,481,077 ​ ​ 6,879,384 ​ ​ 6,673,758 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share ​ $ 5.07 ​ $ 3.87 ​ $ 3.81 ​

Quarterly Results of Operations

Quarterly Results of Operations	12 Months Ended
	Dec. 31, 2020
Quarterly Results of Operations
Quarterly Results of Operations	Note 25 Quarterly Results of Operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 Quarters Fourth Third Second First ​ ​ (dollars in thousands, except share and per share data) Interest income ​ $ 27,094 ​ $ 25,928 ​ $ 24,382 ​ $ 23,296 Interest expense ​ 2,623 ​ 3,003 ​ 3,586 ​ 4,653 Net interest and dividend income ​ 24,471 ​ 22,925 ​ 20,796 ​ 18,643 Provision for loan losses ​ 1,650 ​ 1,350 ​ 3,150 ​ 975 Net interest and dividend income after provision for loan losses ​ 22,821 ​ 21,575 ​ 17,646 ​ 17,668 Noninterest income ​ 6,744 ​ 5,115 ​ 7,764 ​ 3,897 Noninterest expense ​ 13,972 ​ 12,202 ​ 14,438 ​ 12,741 Income before provision for income taxes ​ 15,593 ​ 14,488 ​ 10,972 ​ 8,824 Provision for income taxes ​ 4,063 ​ 3,534 ​ 2,676 ​ 1,558 Net income ​ $ 11,530 ​ $ 10,954 ​ $ 8,296 ​ $ 7,266 Share data ​ ​ ​ ​ Average shares outstanding, basic ​ 7,659,904 ​ 7,673,572 ​ 7,395,199 ​ 7,028,690 Average shares outstanding, diluted ​ ​ 7,682,101 ​ ​ 7,691,326 ​ ​ 7,405,995 ​ ​ 7,128,246 Earnings per share, basic ​ $ 1.49 ​ $ 1.42 ​ $ 1.11 ​ $ 1.03 Earnings per share, diluted ​ $ 1.49 ​ $ 1.42 ​ $ 1.11 ​ $ 1.02 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 Quarters Fourth Third Second First ​ ​ (dollars in thousands, except share and per share data) Interest income ​ $ 23,795 ​ $ 25,489 ​ $ 20,158 ​ $ 19,723 Interest expense ​ 5,015 ​ 5,176 ​ 4,784 ​ 4,523 Net interest and dividend income ​ 18,780 ​ 20,313 ​ 15,374 ​ 15,200 Provision for loan losses ​ 1,125 ​ 3,000 ​ 500 ​ 625 Net interest and dividend income after provision for loan losses ​ 17,655 ​ 17,313 ​ 14,874 ​ 14,575 Noninterest income ​ 3,211 ​ 3,145 ​ 2,736 ​ 3,540 Noninterest expense ​ 11,182 ​ 12,087 ​ 9,955 ​ 9,536 Income before provision for income taxes ​ 9,684 ​ 8,371 ​ 7,655 ​ 8,579 Provision for income taxes ​ 2,225 ​ 1,712 ​ 1,666 ​ 1,992 Net income ​ $ 7,459 ​ $ 6,659 ​ $ 5,989 ​ $ 6,587 Share data ​ ​ ​ ​ Average shares outstanding, basic ​ 7,084,728 ​ 7,036,807 ​ 6,577,016 ​ 6,574,362 Average shares outstanding, diluted ​ ​ 7,182,854 ​ ​ 7,134,674 ​ ​ 6,675,794 ​ ​ 6,608,273 Earnings per share, basic ​ $ 1.05 ​ $ 0.95 ​ $ 0.91 ​ $ 1.00 Earnings per share, diluted ​ $ 1.04 ​ $ 0.93 ​ $ 0.90 ​ $ 1.00 ​ ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Corporation and its wholly owned subsidiaries, Veritas Asset Holdings, LLC ( “Veritas” ) and Bank First, National Association ( “Bank” ). The Bank’s wholly owned subsidiaries are Bank First Investments, Inc., TVG Holdings, Inc. ( “TVG") and BFC Title LLC.(organized during 2020). All significant intercompany balances and transactions have been eliminated. The Bank and TVG have investments in minority-owned subsidiaries that are accounted for using the equity method in the consolidated financial statements. The Bank owns 49.8% of UFS which provides data processing solutions to over 60 banks in the Midwest. TVG owns 40.0% of Ansay providing clients throughout the Midwest with superior insurance and risk management solutions.
Organization	Organization The Corporation provides a variety of financial services to individual and business customers, primarily located in Wisconsin, through the Bank. The Bank is subject to competition from other traditional and nontraditional financial institutions and is also subject to the regulations of certain federal agencies and undergoes periodic examinations by those regulatory authorities including the Office of the Comptroller of the Currency and the Federal Reserve Bank.
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements The preparation of the accompanying consolidated financial statements in conformity with GAAP in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results may differ from these estimates. The allowance for loan losses, carrying value of real estate owned, carrying value of goodwill, fair value of mortgage servicing rights, and fair values of financial instruments are inherently subjective and are susceptible to significant change.
Business Combinations	Business Combinations The Corporation accounts for business combinations under the acquisition method of accounting in accordance with Financial Accounting Standards Board (“FASB” ) Accounting Standards Codification ( “ASC” ) 805, Business Combinations. The Corporation recognizes the full fair value of the assets acquired and liabilities assumed and immediately expenses transaction costs. There is no separate recognition of the acquired allowance for loan losses on the acquirer’s balance sheet as credit related factors are incorporated directly into the fair value of the net tangible and intangible assets acquired. If the amount of consideration exceeds the fair value of assets purchased less the fair value of liabilities assumed, goodwill is recorded. Alternatively, if the amount by which the fair value of assets purchased exceeds the fair value of liabilities assumed and consideration paid, a gain (bargain purchase gain) is recorded. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Results of operations of the acquired business are included in the statement of income from the effective date of the acquisition. Additional information regarding acquisitions is provided in Note 2.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of reporting cash flows in the consolidated financial statements, cash and cash equivalents include cash on hand, interest-bearing and noninterest-bearing accounts in other financial institutions, and federal funds sold, all of which have original maturities of three months or less. Generally, federal funds are purchased and sold for one day periods. In the normal course of business, the Corporation maintains cash and due from bank balances with correspondent banks. Accounts at each institution that are insured by the Federal Deposit Insurance Corporation have up to $250,000 of insurance. Total uninsured balances held at December 31, 2020 and 2019 were approximately $31,039,000 and $1,900,000, respectively. The Bank is required to maintain deposits on hand or with the FRB to meet specific reserve requirements. During 2020, in response to liquidity concerns resulting from the COVID-19 pandemic (“COVID”), this reserve requirement was reduced to zero by the FRB. For December 31, 2019, those required reserves were approximately $26,184,000.
Securities	Securities Securities are classified as held to maturity or available for sale at the time of purchase. Investment securities classified as held to maturity, which management has the intent and ability to hold to maturity, are reported at amortized cost. Investment securities classified as available for sale, which management has the intent and ability to hold for an indefinite period of time, but not necessarily to maturity, are carried at fair value, with unrealized gains and losses, net of related deferred income taxes, included in stockholders’ equity as a separate component of other comprehensive income. The net carrying value of debt securities classified as held to maturity or available for sale is adjusted for amortization of premiums and accretion of discounts utilizing the effective interest method over the expected estimated maturity. Such amortization and accretion is included as an adjustment to interest income from securities. Interest and dividends are included in interest income from securities. Transfers of debt securities into the held to maturity classification from the available for sale classification are made at fair value as of the date of transfer. The unrealized holding gain or loss as of the date of transfer is retained in other comprehensive income and in the carrying value of the held to maturity securities, establishing the amortized cost of the security. These unrealized holding gains and losses as of the date of transfer are amortized or accreted over the remaining life of the security. Unrealized gains or losses considered temporary and the noncredit portion of unrealized losses deemed other-than-temporary are reported as an increase or decrease in accumulated other comprehensive income. The credit related portion of unrealized losses deemed other-than-temporary is recorded in current period earnings. Realized gains or losses, determined on the basis of the cost of specific securities sold, are included in earnings. The Bank evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. As part of such monitoring, the credit quality of individual securities and their issuers are assessed. In addition, management considers the length of time and extent that fair value has been less than cost, the financial condition and near-term prospects of the issuer, and that the Corporation does not have the intent to sell the security and it is more likely than not that it will not have to sell the security before recovery of its cost basis. Adjustments to market value that are considered temporary are recorded as a separate component of equity, net of tax. If an impairment of security is identified as other-than-temporary based on information available such as the decline in the credit worthiness of the issuer, external market ratings or the anticipated or realized elimination of associated dividends, such impairments are further analyzed to determine if a credit loss exists. If there is a credit loss, it will be recorded in the consolidated statement of income in the period of identification.
Other Investments	Other Investments Other investments are carried at cost, or, where available, recently observable market prices, which approximates fair value, and consist of FHLB stock, FRB stock, Bankers’ Bancorporation stock and preferred stock in a community development project. Other investments are evaluated for impairment at least on an annual basis.
Loans Held for Sale	Loans Held for Sale Loans originated and intended for sale in the secondary market, consisting of the current origination of certain fixed-rate mortgage loans, are carried at the lower of cost or estimated fair value in the aggregate. A gain or loss is recognized at the time of the sale reflecting the present value of the difference between the contractual interest rate of the loans sold and the yield to the investor, adjusted for the initial value of mortgage servicing rights associated with loans sold with servicing retained. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings.
Loans and Related Interest Income - Originated	Loans and Related Interest Income - Originated Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoffs are generally reported at their outstanding unpaid principal balances adjusted for charge-offs and the allowance for loan losses. The accrual of interest on loans is calculated using the simple interest method on daily balances of the principal amount outstanding and is recognized in the period earned utilizing the loan convention applicable by loan type. Loan origination fees, net of certain direct loan origination costs, are deferred and recognized in interest income using the effective interest method over the estimated life of the loan. The accrual of interest is discontinued when a loan becomes 90 days past due and is not both well collateralized and in the process of collection, or when management believes, after considering economic and business conditions and collection efforts, that the principal or interest will not be collectible in the normal course of business. When loans are placed on nonaccrual or charged off, all unpaid accrued interest is reversed and additional income is recorded only to the extent that payments are received and the collection of principal is reasonably assured. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, when the obligation has performed in accordance with the contractual terms for a reasonable period of time, and future payments of principal and interest are reasonably assured. Loans are considered impaired if it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement. Total impaired loans are evaluated based on the fair value of the collateral rather than on discounted cash flow basis. In response to the COVID-19 pandemic, the CARES Act was signed into law. Under the CARES Act, banks may elect to deem that loan modifications do not result in troubled debt restructurings ("TDRs") if they are (1) related to COVID-19; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020 and the earlier of (A) 60 days after the date of termination of the national emergency declaration or (B) December 31, 2020. Additionally, in accordance with the lnteragency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised), other short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs under ASC Subtopic 310-40. This includes short-term (e.g. up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented . Loans modified under this guidance are not considered TDRs.
Loans and Related Interest Income - Acquired	Loans and Related Interest Income - Acquired Acquired loans are recorded at their estimated fair value at the acquisition date, and are initially classified as either purchase credit impaired ( “PCI” ) loans (i.e. loans that reflect credit deterioration since origination and it is probable at acquisition that the Corporation will be unable to collect all contractually required payments) or purchased non-impaired loans (i.e. performing acquired loans). PCI loans are accounted for under the accounting guidance for loans and debt securities acquired with deteriorated credit quality, found in FASB ASC Topic 310-30, Receivables— Loans and Debt Securities Acquired with Deteriorated Credit Quality. The Corporation estimates the amount and timing of expected principal, interest and other cash flows for each loan or pool of loans meeting the criteria above, and determines the excess of the loan’s scheduled contractual principal and contractual interest payments over all cash flows expected to be collected at acquisition as an amount that should not be accreted. These credit discounts (nonaccretable marks) are included in the determination of the initial fair value for acquired loans; therefore, an allowance for loan losses is not recorded at the acquisition date. Differences between the estimated fair values and expected cash flows of acquired loans at the acquisition date that are not credit-based (accretable marks) are subsequently accreted to interest income over the estimated life of the loans using a method that approximates a level yield method if the timing and amount of the future cash flows is reasonably estimable. Subsequent to the acquisition date for PCI loans, increases in cash flows over those expected at the acquisition date result in a move of the discount from nonaccretable to accretable. Decreases in expected cash flows after the acquisition date are recognized through the provision for loan losses. Performing acquired loans are accounted for under FASB ASC Topic 310-20, Receivables—Nonrefundable Fees and Other Costs. Performance of certain loans may be monitored and based on management’s assessment of the cash flows and other facts available, portions of the accretable difference may be delayed or suspended if management deems appropriate. The Corporation’s policy for determining when to discontinue accruing interest on performing acquired loans and the subsequent accounting for such loans is essentially the same as the policy for originated loans described above.
Allowance for Loan Losses - Originated	Allowance for Loan Losses - Originated The allowance for loan losses ( “ALL” ) is established through a provision for loan losses charged to expense as losses are estimated to have occurred. Loan losses are charged against the allowance when management believes that the collectability of the principal is unlikely. Subsequent recoveries, if any, are credited to the allowance. Management regularly evaluates the allowance for loan losses using general economic conditions, the Corporation’s past loan loss experience, composition of the portfolio, and other relevant factors. This evaluation is inherently subjective since it requires material estimates that may be susceptible to significant change. The ALL consists of specific reserves for certain impaired loans and general reserves for non-impaired loans. Specific reserves reflect estimated losses on impaired loans from management’s analyses developed through specific credit allocations. The specific credit reserves are based on regular analyses of impaired non-homogenous loans greater than $250,000. These analyses involve a high degree of judgment in estimating the amount of loss associated with specific loans, including estimating the amount and timing of future cash flows and collateral values. The general reserve is based on the Bank’s historical loss experience which is updated quarterly. The general reserve portion of the ALL also includes consideration of certain qualitative factors such as 1) changes in lending policies and/or underwriting practices, 2) national and local economic conditions 3) changes in portfolio volume and nature, 4) experience, ability and depth of lending management and other relevant staff, 5) levels of and trends in past-due and nonaccrual loans and quality, 6) changes in loan review and oversight, 7) impact and effects of concentrations and 8) other issues deemed relevant. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on changes in economic conditions. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments of information available to them at the time of their examination.
Allowance for Loan Losses - Acquired	Allowance for Loan Losses - Acquired An ALL is calculated using a methodology similar to that described for originated loans. Performing acquired loans are subsequently evaluated for any required allowance at each reporting date. Such required allowance for each loan pool is compared to the remaining fair value discount for that pool. If greater, the excess is recognized as an addition to the allowance through a provision for loan losses. If less than the discount, no additional allowance is recorded. Charge-offs and losses first reduce any remaining fair value discount for the loan pool and once the discount is depleted, losses are applied against the allowance established for that pool. For PCI loans after acquisition, cash flows expected to be collected are recast for each loan periodically as determined appropriate by management. If the present value of expected cash flows for a loan is less than its carrying value, impairment is reflected by an increase in the ALL and a charge to the provision for loan losses. If the present value of the expected cash flows for a loan is greater than its carrying value, any previously established ALL is reversed and any remaining difference increases the accretable yield which will be taken into income over the remaining life of the loan. Loans which were considered troubled debt restructurings by Partnership Community Bancshares, Inc. and Tomah Bancshares, Inc. prior to the acquisition are not required to be classified as troubled debt restructurings in the Corporation’s consolidated financial statements unless or until such loans would subsequently meet criteria to be classified as such, since acquired loans were recorded at their estimated fair values at the time of the acquisition.
Premises and Equipment	Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Premises and equipment acquired in corporate acquisitions are recorded at estimated fair value on the date of acquisition. Maintenance and repair costs are charged to expense as incurred. Gains or losses on disposition of premises and equipment are reflected in income. Premises and equipment, and other long-term assets, are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. Depreciation expense is computed using the straight-line method over the following estimated useful lives. ​ ​ ​ ​ Buildings and improvements 40 years Land improvements 20 years Furniture, fixtures and equipment 2-7 years ​
Other Real Estate Owned	Other Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value at the date of foreclosure less estimated costs to sell the asset, establishing a new cost basis. Any write downs at the time of foreclosure are charged to the allowance for loan loss. OREO properties acquired in conjunction with corporate acquisitions are recorded at fair value on the date of acquisition. Subsequent to foreclosure, valuations are periodically performed by management, and a valuation allowance is established if fair value declines below carrying value. Costs relating to the development and improvement of the property are capitalized. Revenue and expenses from operations and changes in the valuation allowance are included in other expenses.
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible assets consist of the value of core deposits and mortgage servicing assets and the excess of purchase price over fair value of net assets (goodwill). Core deposits are stated at cost less accumulated amortization and are amortized on a sum of the year’s digits basis over a period of one to ten years. See Note 2 for additional information on acquisitions completed in 2020 and 2019. Mortgage servicing rights are recognized as separate assets when rights are acquired through purchase or through sale of mortgage loans with servicing retained. Servicing rights acquired through sale of financial assets are recorded based on the fair value of the servicing right. The determination of fair value is based on a valuation model and includes stratifying the mortgage servicing rights by predominant characteristics, such as interest rates and terms, and estimating the fair value of each stratum based on the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as costs to service, a discount rate, and prepayment speeds. Changes in fair value are recorded as an adjustment to earnings. The Corporation performs a “qualitative” assessment of goodwill to determine whether further impairment testing of indefinite-lived intangible assets is necessary on at least an annual basis. If it is determined, as a result of performing a qualitative assessment over goodwill, that it is more likely than not that goodwill is impaired, management will perform an impairment test to determine if the carrying value of goodwill is realizable. The Corporation evaluated goodwill and core deposit intangibles for impairment during 2020, 2019 and 2018, determining that there was no goodwill or core deposit intangible impairment.
Income Taxes	Income Taxes The Corporation files one consolidated federal income tax return and two state returns. Federal income tax expense is allocated to each subsidiary based on an intercompany tax sharing agreement. Deferred tax assets and liabilities have been determined using the liability method. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities and the current enacted tax rates which will be in effect when these differences are expected to reverse. Provision (benefit) for deferred taxes is the result of changes in the deferred tax assets and liabilities.
Treasury Stock	Treasury Stock Common stock shares repurchased by the Corporation are recorded as treasury stock at cost.
Securities Sold Under Repurchase Agreements	Securities Sold Under Repurchase Agreements The Corporation sells securities under repurchase agreements. These transactions are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold. The Corporation may have to provide additional collateral to the counterparty, as necessary.
Off-Balance-Sheet Financial Instruments	Off-Balance-Sheet Financial Instruments In the ordinary course of business, the Corporation has entered into off-balance-sheet financial instruments including commitments to extend credit, unfunded commitments under lines of credit, and letters of credit. Such financial instruments are recorded in the consolidated financial statements when they are funded.
Advertising	Advertising Advertising costs are generally expensed as incurred.
Per Share Computations	Per Share Computations Weighted average shares outstanding were 7,441,256, 6,820,225, and 6,673,758 for the years ended December 31, 2020, 2019 and 2018, respectively. All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities for basic and diluted earnings per share calculations. There were 39,821 and 82,391 average shares of dilutive instruments outstanding during the years ended December 31, 2020 and 2019. There were no dilutive instruments outstanding during 2018.
Loss Contingencies	Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are any such matters that will have a material effect on the consolidated financial statements at December 31, 2020 and 2019.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Bank, the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets and the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity.
Comprehensive Income	Comprehensive Income GAAP normally requires that recognized revenues, expenses, gains and losses be included in net income. In addition to net income, another component of comprehensive income includes the after-tax effect of changes in unrealized gains and losses on available for sale securities. This item is reported as a separate component of stockholders’ equity. The Corporation presents comprehensive income in the statement of comprehensive income.
Stock-based Compensation	Stock-based Compensation The Corporation uses the fair value method of recognizing expense for stock-based compensation based on the fair value of restricted stock awards at the date of grant as prescribed by accounting standards codification Topic 781-10 Compensation/Stock Compensation.
Mortgage Banking Derivatives	Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest rate on the loan is locked. The Bank enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into in order to hedge the change in interest rates resulting from its commitments to fund loans. The forward commitments for the future delivery of mortgage loans are based on the Bank’s “best efforts” and therefore the Bank is not penalized if a loan is not delivered to the investor if the loan did not get originated. Changes in the fair values of these derivatives generally offset each other and are included in “other income” in the consolidated statements of income.
Reclassifications	Reclassifications Certain 2019 and 2018 amounts have been reclassified to conform to the presentation used in 2020. These reclassifications had no effect on the operations, financial condition or cash flows of the Corporation.
New Accounting Pronouncements	Bank First Corporation and Subsidiaries Notes to Consolidated Financial Statements Note 1 Summary of Significant Accounting Policies The accounting and reporting policies of Bank First Corporation and Subsidiaries ( “Corporation” ) conform to generally accepted accounting principles ( “GAAP” ) in the United States and general practices within the financial institution industry. Significant accounting and reporting policies are summarized below. Principles of Consolidation The consolidated financial statements include the accounts of the Corporation and its wholly owned subsidiaries, Veritas Asset Holdings, LLC ( “Veritas” ) and Bank First, National Association ( “Bank” ). The Bank’s wholly owned subsidiaries are Bank First Investments, Inc., TVG Holdings, Inc. ( “TVG") and BFC Title LLC.(organized during 2020). All significant intercompany balances and transactions have been eliminated. The Bank and TVG have investments in minority-owned subsidiaries that are accounted for using the equity method in the consolidated financial statements. The Bank owns 49.8% of UFS which provides data processing solutions to over 60 banks in the Midwest. TVG owns 40.0% of Ansay providing clients throughout the Midwest with superior insurance and risk management solutions. Organization The Corporation provides a variety of financial services to individual and business customers, primarily located in Wisconsin, through the Bank. The Bank is subject to competition from other traditional and nontraditional financial institutions and is also subject to the regulations of certain federal agencies and undergoes periodic examinations by those regulatory authorities including the Office of the Comptroller of the Currency and the Federal Reserve Bank. Use of Estimates in Preparation of Financial Statements The preparation of the accompanying consolidated financial statements in conformity with GAAP in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results may differ from these estimates. The allowance for loan losses, carrying value of real estate owned, carrying value of goodwill, fair value of mortgage servicing rights, and fair values of financial instruments are inherently subjective and are susceptible to significant change. Business Combinations The Corporation accounts for business combinations under the acquisition method of accounting in accordance with Financial Accounting Standards Board (“FASB” ) Accounting Standards Codification ( “ASC” ) 805, Business Combinations. The Corporation recognizes the full fair value of the assets acquired and liabilities assumed and immediately expenses transaction costs. There is no separate recognition of the acquired allowance for loan losses on the acquirer’s balance sheet as credit related factors are incorporated directly into the fair value of the net tangible and intangible assets acquired. If the amount of consideration exceeds the fair value of assets purchased less the fair value of liabilities assumed, goodwill is recorded. Alternatively, if the amount by which the fair value of assets purchased exceeds the fair value of liabilities assumed and consideration paid, a gain (bargain purchase gain) is recorded. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Results of operations of the acquired business are included in the statement of income from the effective date of the acquisition. Additional information regarding acquisitions is provided in Note 2. Cash and Cash Equivalents For purposes of reporting cash flows in the consolidated financial statements, cash and cash equivalents include cash on hand, interest-bearing and noninterest-bearing accounts in other financial institutions, and federal funds sold, all of which have original maturities of three months or less. Generally, federal funds are purchased and sold for one day periods. In the normal course of business, the Corporation maintains cash and due from bank balances with correspondent banks. Accounts at each institution that are insured by the Federal Deposit Insurance Corporation have up to $250,000 of insurance. Total uninsured balances held at December 31, 2020 and 2019 were approximately $31,039,000 and $1,900,000, respectively. The Bank is required to maintain deposits on hand or with the FRB to meet specific reserve requirements. During 2020, in response to liquidity concerns resulting from the COVID-19 pandemic (“COVID”), this reserve requirement was reduced to zero by the FRB. For December 31, 2019, those required reserves were approximately $26,184,000. Securities Securities are classified as held to maturity or available for sale at the time of purchase. Investment securities classified as held to maturity, which management has the intent and ability to hold to maturity, are reported at amortized cost. Investment securities classified as available for sale, which management has the intent and ability to hold for an indefinite period of time, but not necessarily to maturity, are carried at fair value, with unrealized gains and losses, net of related deferred income taxes, included in stockholders’ equity as a separate component of other comprehensive income. The net carrying value of debt securities classified as held to maturity or available for sale is adjusted for amortization of premiums and accretion of discounts utilizing the effective interest method over the expected estimated maturity. Such amortization and accretion is included as an adjustment to interest income from securities. Interest and dividends are included in interest income from securities. Transfers of debt securities into the held to maturity classification from the available for sale classification are made at fair value as of the date of transfer. The unrealized holding gain or loss as of the date of transfer is retained in other comprehensive income and in the carrying value of the held to maturity securities, establishing the amortized cost of the security. These unrealized holding gains and losses as of the date of transfer are amortized or accreted over the remaining life of the security. Unrealized gains or losses considered temporary and the noncredit portion of unrealized losses deemed other-than-temporary are reported as an increase or decrease in accumulated other comprehensive income. The credit related portion of unrealized losses deemed other-than-temporary is recorded in current period earnings. Realized gains or losses, determined on the basis of the cost of specific securities sold, are included in earnings. The Bank evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. As part of such monitoring, the credit quality of individual securities and their issuers are assessed. In addition, management considers the length of time and extent that fair value has been less than cost, the financial condition and near-term prospects of the issuer, and that the Corporation does not have the intent to sell the security and it is more likely than not that it will not have to sell the security before recovery of its cost basis. Adjustments to market value that are considered temporary are recorded as a separate component of equity, net of tax. If an impairment of security is identified as other-than-temporary based on information available such as the decline in the credit worthiness of the issuer, external market ratings or the anticipated or realized elimination of associated dividends, such impairments are further analyzed to determine if a credit loss exists. If there is a credit loss, it will be recorded in the consolidated statement of income in the period of identification. Other Investments Other investments are carried at cost, or, where available, recently observable market prices, which approximates fair value, and consist of FHLB stock, FRB stock, Bankers’ Bancorporation stock and preferred stock in a community development project. Other investments are evaluated for impairment at least on an annual basis. Loans Held for Sale Loans originated and intended for sale in the secondary market, consisting of the current origination of certain fixed-rate mortgage loans, are carried at the lower of cost or estimated fair value in the aggregate. A gain or loss is recognized at the time of the sale reflecting the present value of the difference between the contractual interest rate of the loans sold and the yield to the investor, adjusted for the initial value of mortgage servicing rights associated with loans sold with servicing retained. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans and Related Interest Income - Originated Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoffs are generally reported at their outstanding unpaid principal balances adjusted for charge-offs and the allowance for loan losses. The accrual of interest on loans is calculated using the simple interest method on daily balances of the principal amount outstanding and is recognized in the period earned utilizing the loan convention applicable by loan type. Loan origination fees, net of certain direct loan origination costs, are deferred and recognized in interest income using the effective interest method over the estimated life of the loan. The accrual of interest is discontinued when a loan becomes 90 days past due and is not both well collateralized and in the process of collection, or when management believes, after considering economic and business conditions and collection efforts, that the principal or interest will not be collectible in the normal course of business. When loans are placed on nonaccrual or charged off, all unpaid accrued interest is reversed and additional income is recorded only to the extent that payments are received and the collection of principal is reasonably assured. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, when the obligation has performed in accordance with the contractual terms for a reasonable period of time, and future payments of principal and interest are reasonably assured. Loans are considered impaired if it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement. Total impaired loans are evaluated based on the fair value of the collateral rather than on discounted cash flow basis. In response to the COVID-19 pandemic, the CARES Act was signed into law. Under the CARES Act, banks may elect to deem that loan modifications do not result in troubled debt restructurings ("TDRs") if they are (1) related to COVID-19; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020 and the earlier of (A) 60 days after the date of termination of the national emergency declaration or (B) December 31, 2020. Additionally, in accordance with the lnteragency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised), other short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs under ASC Subtopic 310-40. This includes short-term (e.g. up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented . Loans modified under this guidance are not considered TDRs. Loans and Related Interest Income - Acquired Acquired loans are recorded at their estimated fair value at the acquisition date, and are initially classified as either purchase credit impaired ( “PCI” ) loans (i.e. loans that reflect credit deterioration since origination and it is probable at acquisition that the Corporation will be unable to collect all contractually required payments) or purchased non-impaired loans (i.e. performing acquired loans). PCI loans are accounted for under the accounting guidance for loans and debt securities acquired with deteriorated credit quality, found in FASB ASC Topic 310-30, Receivables— Loans and Debt Securities Acquired with Deteriorated Credit Quality. The Corporation estimates the amount and timing of expected principal, interest and other cash flows for each loan or pool of loans meeting the criteria above, and determines the excess of the loan’s scheduled contractual principal and contractual interest payments over all cash flows expected to be collected at acquisition as an amount that should not be accreted. These credit discounts (nonaccretable marks) are included in the determination of the initial fair value for acquired loans; therefore, an allowance for loan losses is not recorded at the acquisition date. Differences between the estimated fair values and expected cash flows of acquired loans at the acquisition date that are not credit-based (accretable marks) are subsequently accreted to interest income over the estimated life of the loans using a method that approximates a level yield method if the timing and amount of the future cash flows is reasonably estimable. Subsequent to the acquisition date for PCI loans, increases in cash flows over those expected at the acquisition date result in a move of the discount from nonaccretable to accretable. Decreases in expected cash flows after the acquisition date are recognized through the provision for loan losses. Performing acquired loans are accounted for under FASB ASC Topic 310-20, Receivables—Nonrefundable Fees and Other Costs. Performance of certain loans may be monitored and based on management’s assessment of the cash flows and other facts available, portions of the accretable difference may be delayed or suspended if management deems appropriate. The Corporation’s policy for determining when to discontinue accruing interest on performing acquired loans and the subsequent accounting for such loans is essentially the same as the policy for originated loans described above. Allowance for Loan Losses - Originated The allowance for loan losses ( “ALL” ) is established through a provision for loan losses charged to expense as losses are estimated to have occurred. Loan losses are charged against the allowance when management believes that the collectability of the principal is unlikely. Subsequent recoveries, if any, are credited to the allowance. Management regularly evaluates the allowance for loan losses using general economic conditions, the Corporation’s past loan loss experience, composition of the portfolio, and other relevant factors. This evaluation is inherently subjective since it requires material estimates that may be susceptible to significant change. The ALL consists of specific reserves for certain impaired loans and general reserves for non-impaired loans. Specific reserves reflect estimated losses on impaired loans from management’s analyses developed through specific credit allocations. The specific credit reserves are based on regular analyses of impaired non-homogenous loans greater than $250,000. These analyses involve a high degree of judgment in estimating the amount of loss associated with specific loans, including estimating the amount and timing of future cash flows and collateral values. The general reserve is based on the Bank’s historical loss experience which is updated quarterly. The general reserve portion of the ALL also includes consideration of certain qualitative factors such as 1) changes in lending policies and/or underwriting practices, 2) national and local economic conditions 3) changes in portfolio volume and nature, 4) experience, ability and depth of lending management and other relevant staff, 5) levels of and trends in past-due and nonaccrual loans and quality, 6) changes in loan review and oversight, 7) impact and effects of concentrations and 8) other issues deemed relevant. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on changes in economic conditions. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments of information available to them at the time of their examination. Allowance for Loan Losses - Acquired An ALL is calculated using a methodology similar to that described for originated loans. Performing acquired loans are subsequently evaluated for any required allowance at each reporting date. Such required allowance for each loan pool is compared to the remaining fair value discount for that pool. If greater, the excess is recognized as an addition to the allowance through a provision for loan losses. If less than the discount, no additional allowance is recorded. Charge-offs and losses first reduce any remaining fair value discount for the loan pool and once the discount is depleted, losses are applied against the allowance established for that pool. For PCI loans after acquisition, cash flows expected to be collected are recast for each loan periodically as determined appropriate by management. If the present value of expected cash flows for a loan is less than its carrying value, impairment is reflected by an increase in the ALL and a charge to the provision for loan losses. If the present value of the expected cash flows for a loan is greater than its carrying value, any previously established ALL is reversed and any remaining difference increases the accretable yield which will be taken into income over the remaining life of the loan. Loans which were considered troubled debt restructurings by Partnership Community Bancshares, Inc. and Tomah Bancshares, Inc. prior to the acquisition are not required to be classified as troubled debt restructurings in the Corporation’s consolidated financial statements unless or until such loans would subsequently meet criteria to be classified as such, since acquired loans were recorded at their estimated fair values at the time of the acquisition. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Premises and equipment acquired in corporate acquisitions are recorded at estimated fair value on the date of acquisition. Maintenance and repair costs are charged to expense as incurred. Gains or losses on disposition of premises and equipment are reflected in income. Premises and equipment, and other long-term assets, are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. Depreciation expense is computed using the straight-line method over the following estimated useful lives. ​ ​ ​ ​ Buildings and improvements 40 years Land improvements 20 years Furniture, fixtures and equipment 2-7 years ​ Other Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value at the date of foreclosure less estimated costs to sell the asset, establishing a new cost basis. Any write downs at the time of foreclosure are charged to the allowance for loan loss. OREO properties acquired in conjunction with corporate acquisitions are recorded at fair value on the date of acquisition. Subsequent to foreclosure, valuations are periodically performed by management, and a valuation allowance is established if fair value declines below carrying value. Costs relating to the development and improvement of the property are capitalized. Revenue and expenses from operations and changes in the valuation allowance are included in other expenses. Intangible Assets and Goodwill Intangible assets consist of the value of core deposits and mortgage servicing assets and the excess of purchase price over fair value of net assets (goodwill). Core deposits are stated at cost less accumulated amortization and are amortized on a sum of the year’s digits basis over a period of one to ten years. See Note 2 for additional information on acquisitions completed in 2020 and 2019. Mortgage servicing rights are recognized as separate assets when rights are acquired through purchase or through sale of mortgage loans with servicing retained. Servicing rights acquired through sale of financial assets are recorded based on the fair value of the servicing right. The determination of fair value is based on a valuation model and includes stratifying the mortgage servicing rights by predominant characteristics, such as interest rates and terms, and estimating the fair value of each stratum based on the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as costs to service, a discount rate, and prepayment speeds. Changes in fair value are recorded as an adjustment to earnings. The Corporation performs a “qualitative” assessment of goodwill to determine whether further impairment testing of indefinite-lived intangible assets is necessary on at least an annual basis. If it is determined, as a result of performing a qualitative assessment over goodwill, that it is more likely than not that goodwill is impaired, management will perform an impairment test to determine if the carrying value of goodwill is realizable. The Corporation evaluated goodwill and core deposit intangibles for impairment during 2020, 2019 and 2018, determining that there was no goodwill or core deposit intangible impairment. Income Taxes The Corporation files one consolidated federal income tax return and two state returns. Federal income tax expense is allocated to each subsidiary based on an intercompany tax sharing agreement. Deferred tax assets and liabilities have been determined using the liability method. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities and the current enacted tax rates which will be in effect when these differences are expected to reverse. Provision (benefit) for deferred taxes is the result of changes in the deferred tax assets and liabilities. Treasury Stock Common stock shares repurchased by the Corporation are recorded as treasury stock at cost. Securities Sold Under Repurchase Agreements The Corporation sells securities under repurchase agreements. These transactions are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold. The Corporation may have to provide additional collateral to the counterparty, as necessary. Off-Balance-Sheet Financial Instruments In the ordinary course of business, the Corporation has entered into off-balance-sheet financial instruments including commitments to extend credit, unfunded commitments under lines of credit, and letters of credit. Such financial instruments are recorded in the consolidated financial statements when they are funded. Advertising Advertising costs are generally expensed as incurred. Per Share Computations Weighted average shares outstanding were 7,441,256, 6,820,225, and 6,673,758 for the years ended December 31, 2020, 2019 and 2018, respectively. All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities for basic and diluted earnings per share calculations. There were 39,821 and 82,391 average shares of dilutive instruments outstanding during the years ended December 31, 2020 and 2019. There were no dilutive instruments outstanding during 2018. Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are any such matters that will have a material effect on the consolidated financial statements at December 31, 2020 and 2019. Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Bank, the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets and the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity. Comprehensive Income GAAP normally requires that recognized revenues, expenses, gains and losses be included in net income. In addition to net income, another component of comprehensive income includes the after-tax effect of changes in unrealized gains and losses on available for sale securities. This item is reported as a separate component of stockholders’ equity. The Corporation presents comprehensive income in the statement of comprehensive income. Stock-based Compensation The Corporation uses the fair value method of recognizing expense for stock-based compensation based on the fair value of restricted stock awards at the date of grant as prescribed by accounting standards codification Topic 781-10 Compensation/Stock Compensation. Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest rate on the loan is locked. The Bank enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into in order to hedge the change in interest rates resulting from its commitments to fund loans. The forward commitments for the future delivery of mortgage loans are based on the Bank’s “best efforts” and therefore the Bank is not penalized if a loan is not delivered to the investor if the loan did not get originated. Changes in the fair values of these derivatives generally offset each other and are included in “other income” in the consolidated statements of income. Reclassifications Certain 2019 and 2018 amounts have been reclassified to conform to the presentation used in 2020. These reclassifications had no effect on the operations, financial condition or cash flows of the Corporation. New Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses Codification Improvements to Topic 326, Financial Instruments—Credit Losses In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Summary of Significant Accounting Policies
Property Plant and Equipment Estimated Useful Lives	Depreciation expense is computed using the straight-line method over the following estimated useful lives. ​ ​ ​ ​ Buildings and improvements 40 years Land improvements 20 years Furniture, fixtures and equipment 2-7 years ​

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2020
Tomah Bancshares Inc [Member]
Schedule of Fair Vlue of Assets And Liabilities	The fair value of the assets acquired and liabilities assumed on May 15, 2020 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Recorded by Fair Value ​ As Recorded by (In thousands) ​ Timberwood Adjustments the Company Cash, cash equivelants and securities ​ $ 79,614 ​ $ (656) ​ $ 78,958 Other investments ​ 533 ​ — ​ ​ 533 Loans ​ 117,343 ​ 1,068 ​ ​ 118,411 Premises and equipment, net ​ 2,538 ​ (1,006) ​ ​ 1,532 Core deposit intangible ​ — ​ 1,697 ​ ​ 1,697 Other assets ​ 11,392 ​ (2,605) ​ ​ 8,787 Total assets acquired ​ $ 211,420 ​ $ (1,502) ​ $ 209,918 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ $ 170,362 ​ $ 742 ​ $ 171,104 Subordinated debt ​ 6,500 ​ — ​ 6,500 Other borrowings ​ 12,938 ​ 210 ​ 13,148 Other liabilities ​ 1,923 ​ (974) ​ 949 Total liabilities assumed ​ $ 191,723 ​ $ (22) ​ $ 191,701 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Excess of assets acquired over liabilties assumed ​ $ 19,697 ​ $ (1,480) ​ $ 18,217 Less: purchase price ​ ​ ​ 29,812 Goodwill (originally recorded) ​ ​ ​ ​ ​ ​ ​ ​ 11,595 Refinement to fair value estimates ​ ​ ​ ​ ​ ​ ​ ​ 420 Goodwill (after refinement) ​ ​ ​ $ 12,015 ​
Partnership Community Bancshares, Inc. [Member]
Schedule of Fair Vlue of Assets And Liabilities	The fair value of the assets acquired and liabilities assumed on July 12, 2019 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Recorded by ​ ​ ​ ​ ​ ​ Partnership ​ ​ ​ ​ As Recorded by ​ ​ Community ​ Fair Value ​ Bank First ​ ​ Bancshares ​ Adjustments ​ Corporation (in thousands) ​ Cash, cash equivelants and securities ​ $ 21,447 ​ $ (291) ​ $ 21,156 Other investments ​ ​ 441 ​ ​ ​ ​ ​ 441 Loans ​ 276,279 ​ (957) ​ 275,322 Premises and equipment, net ​ 6,066 ​ (2,940) ​ 3,126 Core deposit intangible ​ — ​ ​ 4,236 ​ ​ 4,236 Other assets ​ ​ 3,668 ​ ​ (181) ​ ​ 3,487 Total assets acquired ​ $ 307,901 ​ $ (133) ​ $ 307,768 Deposits ​ $ 268,653 ​ $ 154 ​ $ 268,807 Subordinated debt ​ ​ 7,000 ​ ​ 195 ​ ​ 7,195 Other borrowings ​ 9,800 ​ (18) ​ 9,782 Other liabilities ​ ​ 841 ​ ​ (13) ​ ​ 828 Total liabilities assumed ​ $ 286,294 ​ $ 318 ​ $ 286,612 Excess of assets acquired over liabilties assumed ​ $ 21,607 ​ $ (451) ​ $ 21,156 Less: purchase price ​ ​ ​ ​ 49,589 Goodwill ​ ​ ​ ​ $ 28,433

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Securities
Schedule of securities available for sale	The following is a summary of available for sale securities (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated ​ ​ Cost ​ Gains ​ Losses ​ Fair Value December 31, 2020 ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 18,276 ​ $ 556 ​ $ (53) ​ $ 18,779 Obligations of states and political subdivisions ​ 67,653 ​ 4,564 ​ — ​ 72,217 Mortgage-backed securities ​ ​ 41,804 ​ ​ 2,395 ​ ​ — ​ ​ 44,199 Corporate notes ​ 27,358 ​ 470 ​ (85) ​ 27,743 Certificates of deposit ​ ​ 2,063 ​ ​ 38 ​ ​ — ​ ​ 2,101 Total available for sale securities ​ $ 157,154 ​ $ 8,023 ​ $ (138) ​ $ 165,039 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 12,218 ​ $ — ​ $ (158) ​ $ 12,060 Obligations of states and political subdivisions ​ ​ 52,594 ​ ​ 2,197 ​ ​ (20) ​ ​ 54,771 Mortgage-backed securities ​ 50,770 ​ 988 ​ (38) ​ 51,720 Corporate notes ​ 62,794 ​ 172 ​ (11) ​ 62,955 Total available for sale securities ​ $ 178,376 ​ $ 3,357 ​ $ (227) ​ $ 181,506
Schedule of securities held to maturity	The following is a summary of held to maturity securities (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated ​ ​ Cost ​ Gains ​ Losses ​ Fair Value December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of states and political subdivisions ​ $ 6,669 ​ $ 19 ​ $ — ​ $ 6,688 December 31, 2019 ​ ​ ​ ​ U.S. Treasury securities ​ $ 33,527 ​ $ 1,076 ​ $ (22) ​ $ 34,581 Obligations of states and political subdivisions ​ 10,207 ​ 15 ​ — ​ 10,222 Total held to maturity securities ​ $ 43,734 ​ $ 1,091 ​ $ (22) ​ $ 44,803
Schedule of fair value and gross unrealized lossess of securities	The following table shows the fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months ​ Greater Than 12 Months ​ Total ​ Fair Unrealized Fair Unrealized Fair Unrealized ​ ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 - Available for Sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 5,640 ​ $ (53) ​ $ — ​ $ — ​ $ 5,640 ​ $ (53) Corporate notes ​ 7,890 ​ (85) ​ — ​ — ​ 7,890 ​ (85) Totals ​ $ 13,530 ​ $ (138) ​ $ — ​ $ — ​ $ 13,530 ​ $ (138) December 31, 2019 - Available for Sale ​ ​ ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 12,059 ​ $ (158) ​ $ — ​ $ — ​ $ 12,059 ​ $ (158) Obligations of states and political subdivisions ​ ​ 5,636 ​ ​ (19) ​ ​ 999 ​ ​ (1) ​ ​ 6,635 ​ ​ (20) Mortgage-backed securities ​ 4,038 ​ (26) ​ 2,187 ​ (12) ​ 6,225 ​ (38) Corporate notes ​ 3,925 ​ (11) ​ — ​ — ​ 3,925 ​ (11) Totals ​ $ 25,658 ​ $ (214) ​ $ 3,186 ​ $ (13) ​ $ 28,844 ​ $ (227) December 31, 2019 - Held to Maturity ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 2,958 ​ $ (22) ​ $ — ​ $ — ​ $ 2,958 ​ $ (22)
Schedule of amortized cost and estimated fair value of securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ Held to Maturity ​ Amortized Estimated Amortized Estimated ​ ​ Cost ​ Fair Value ​ Cost ​ Fair Value Due in one year or less ​ $ 13,356 ​ $ 13,350 ​ $ 751 ​ $ 751 Due after one year through 5 years ​ 11,557 ​ 12,329 ​ ​ 3,523 ​ ​ 3,542 Due after 5 years through ten years ​ 15,596 ​ 16,483 ​ ​ 2,395 ​ ​ 2,395 Due after 10 years ​ 74,841 ​ 78,678 ​ ​ — ​ ​ — Subtotal ​ 115,350 ​ 120,840 ​ ​ 6,669 ​ ​ 6,688 Mortgage-backed securities ​ 41,804 ​ 44,199 ​ ​ — ​ ​ — Total ​ $ 157,154 ​ $ 165,039 ​ $ 6,669 ​ $ 6,688 ​
Schedule of proceeds from sale of securities available for sale and held to maturity	Following is a summary of the proceeds from sales of securities available for sale, as well as gross gains and losses, from the years ended December 31 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Proceeds from sales of securities ​ $ 59,697 ​ $ 45,506 ​ $ 4,467 Gross gains on sales ​ 3,284 ​ 657 ​ 41 Gross losses on sales ​ (51) ​ (23) ​ (72)

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2020
LOANS, ALLOWANCE FOR LOAN LOSSES, AND CREDIT QUALITY
Schedule of total loans by portfolio segment and class of loan	The composition of loans at December 31 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Commercial/industrial ​ $ 447,344 ​ $ 302,538 Commercial real estate - owner occupied ​ 549,619 ​ 459,782 Commercial real estate - non-owner occupied ​ 443,144 ​ 353,723 Construction and development ​ 140,042 ​ 132,296 Residential 1 ‑ ​ 545,818 ​ 448,605 Consumer ​ 30,359 ​ 29,462 Other ​ 38,054 ​ 10,440 Subtotals ​ 2,194,380 ​ 1,736,846 ALL ​ (17,658) ​ (11,396) Loans, net of ALL ​ 2,176,722 ​ 1,725,450 Deferred loan fees and costs ​ (2,920) ​ (503) Loans, net ​ $ 2,173,802 ​ $ 1,724,947 ​
Schedule of ALL by loan type	A summary of the activity in the allowance for loan losses by loan type as of December 31, 2020 and December 31, 2019 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - ​ Real Estate  - ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial / ​ Owner ​ Non-Owner ​ and ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Occupied ​ Occupied ​ Development ​ 1-4 Family ​ Consumer ​ Other ​ Total ALL - January 1, 2020 ​ $ 2,320 ​ $ 4,587 ​ $ 1,578 ​ $ 548 ​ $ 2,169 ​ $ 141 ​ $ 53 ​ $ 11,396 Charge-offs ​ (1,087) ​ ​ (783) ​ ​ — ​ (33) ​ (63) ​ (90) ​ (35) ​ (2,091) Recoveries ​ 4 ​ ​ 1,129 ​ ​ 40 ​ — ​ 42 ​ — ​ 13 ​ 1,228 Provision ​ 812 ​ ​ 1,175 ​ ​ 2,286 ​ 512 ​ 1,812 ​ 150 ​ 378 ​ 7,125 ALL - December 31, 2020 ​ 2,049 ​ ​ 6,108 ​ ​ 3,904 ​ 1,027 ​ 3,960 ​ 201 ​ 409 ​ 17,658 ALL ending balance individually evaluated for impairment ​ 10 ​ ​ — ​ ​ 890 ​ — ​ — ​ — ​ — ​ 900 ALL ending balance collectively evaluated for impairment ​ $ 2,039 ​ $ 6,108 ​ $ 3,014 ​ $ 1,027 ​ $ 3,960 ​ $ 201 ​ $ 409 ​ $ 16,758 Loans outstanding - December 31, 2020 ​ $ 447,344 ​ $ 549,619 ​ $ 443,144 ​ $ 140,042 ​ $ 545,818 ​ $ 30,359 ​ $ 38,054 ​ $ 2,194,380 Loans ending balance individually evaluated for impairment ​ 478 ​ ​ 1,171 ​ ​ 8,676 ​ — ​ 260 ​ — ​ — ​ 10,585 Loans ending balance collectively evaluated for impairment ​ $ 446,866 ​ $ 548,448 ​ $ 434,468 ​ $ 140,042 ​ $ 545,558 ​ $ 30,359 ​ $ 38,054 ​ $ 2,183,795 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate  - ​ Real Estate  - ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial / ​ Owner ​ Non-Owner ​ and ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Occupied ​ Occupied ​ Development ​ 1-4 Family ​ Consumer ​ Other ​ Total ALL - January 1, 2019 ​ $ 3,021 ​ $ 3,750 ​ $ 2,100 ​ $ 725 ​ $ 2,472 ​ $ 148 ​ $ 32 ​ $ 12,248 Charge-offs ​ (1,229) ​ (4,994) ​ (62) ​ — ​ (276) ​ (76) ​ (41) ​ (6,678) Recoveries ​ 11 ​ 356 ​ 60 ​ — ​ 130 ​ 11 ​ 8 ​ 576 Provision ​ 517 ​ 5,475 ​ (520) ​ (177) ​ (157) ​ 58 ​ 54 ​ 5,250 ALL - December 31, 2019 ​ 2,320 ​ 4,587 ​ 1,578 ​ 548 ​ 2,169 ​ 141 ​ 53 ​ 11,396 ALL ending balance individually evaluated for impairment ​ 760 ​ 80 ​ — ​ — ​ — ​ — ​ — ​ 840 ALL ending balance collectively evaluated for impairment ​ $ 1,560 ​ $ 4,507 ​ $ 1,578 ​ $ 548 ​ $ 2,169 ​ $ 141 ​ $ 53 ​ $ 10,556 Loans outstanding - December 31, 2019 ​ $ 302,538 ​ $ 459,782 ​ $ 353,723 ​ $ 132,296 ​ $ 448,605 ​ $ 29,462 ​ $ 10,440 ​ $ 1,736,846 Loans ending balance individually evaluated for impairment ​ 1,878 ​ 960 ​ — ​ — ​ — ​ — ​ — ​ 2,838 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ending balance collectively evaluated for impairment ​ $ 300,660 ​ $ 458,822 ​ $ 353,723 ​ $ 132,296 ​ $ 448,605 ​ $ 29,462 ​ $ 10,440 ​ $ 1,734,008
Schedule of past due loans	A summary of past due loans as of December 31, 2020 are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ 30-89 Days ​ or more ​ ​ ​ ​ ​ ​ ​ ​ Past Due ​ Past Due ​ ​ ​ ​ ​ ​ ​ Accruing ​ and Accruing ​ Non-Accrual ​ Total Commercial/industrial ​ $ 116 ​ $ — ​ $ 433 ​ $ 549 Commercial real estate - owner occupied ​ — ​ 1,582 ​ 1,078 ​ 2,660 Commercial real estate - non-owner occupied ​ — ​ — ​ 8,087 ​ 8,087 Construction and development ​ — ​ — ​ 281 ​ 281 Residential 1 ‑ ​ 1,415 ​ 142 ​ 912 ​ 2,469 Consumer ​ 4 ​ 14 ​ 5 ​ 23 Other ​ — ​ — ​ — ​ — ​ ​ $ 1,535 ​ $ 1,738 ​ $ 10,796 ​ $ 14,069 ​ A summary of past due loans as of December 31, 2019 are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ 30-89 Days ​ or more ​ ​ ​ ​ ​ ​ ​ ​ Past Due ​ Past Due ​ ​ ​ ​ ​ ​ Accruing ​ and Accruing ​ Non-Accrual ​ Total Commercial/industrial ​ $ 235 ​ $ — ​ $ 1,923 ​ $ 2,158 Commercial real estate - owner occupied ​ 1,124 ​ — ​ 2,513 ​ 3,637 Commercial real estate - non-owner occupied ​ — ​ — ​ 75 ​ 75 Construction and development ​ 768 ​ 11 ​ — ​ 779 Residential 1 ‑ ​ 805 ​ 307 ​ 550 ​ 1,662 Consumer ​ 70 ​ 36 ​ 32 ​ 138 Other ​ — ​ — ​ — ​ — ​ ​ $ 3,002 ​ $ 354 ​ $ 5,093 ​ $ 8,449 ​
Schedule of loans by risk rating	The breakdown of loans by risk rating as of December 31, 2020 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass (1-5) 6 7 8 Total Commercial/industrial ​ $ 440,461 ​ $ 2,479 ​ $ 4,404 ​ $ — ​ $ 447,344 Commercial real estate - owner occupied ​ 520,075 ​ 5,844 ​ 23,700 ​ — ​ 549,619 Commercial real estate - non-owner occupied ​ 432,444 ​ — ​ 10,700 ​ — ​ 443,144 Construction and development ​ 139,693 ​ 21 ​ 328 ​ — ​ 140,042 Residential 1 ‑ ​ 543,163 ​ 456 ​ 2,199 ​ — ​ 545,818 Consumer ​ 30,359 ​ — ​ — ​ — ​ 30,359 Other ​ 38,054 ​ — ​ — ​ — ​ 38,054 ​ ​ $ 2,144,249 ​ $ 8,800 ​ $ 41,331 ​ $ — ​ $ 2,194,380 ​ The breakdown of loans by risk rating as of December 31, 2019 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass (1-5) 6 7 8 Total Commercial/industrial ​ $ 290,180 ​ $ 5,329 ​ $ 7,029 ​ $ — ​ $ 302,538 Commercial real estate - owner occupied ​ 422,336 ​ 5,603 ​ 31,843 ​ — ​ 459,782 Commercial real estate - non-owner occupied ​ 344,278 ​ 8,774 ​ 671 ​ — ​ 353,723 Construction and development ​ 132,266 ​ — ​ 30 ​ — ​ 132,296 Residential 1 ‑ ​ 447,630 ​ 256 ​ 719 ​ — ​ 448,605 Consumer ​ 29,430 ​ — ​ 32 ​ — ​ 29,462 Other ​ 10,440 ​ — ​ — ​ — ​ 10,440 ​ ​ $ 1,676,560 ​ $ 19,962 ​ $ 40,324 ​ $ — ​ $ 1,736,846
Schedule of impaired loans individually	A summary of impaired loans individually evaluated as of December 31, 2020 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - ​ Real Estate - ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial/ ​ Owner ​ Non-Owner ​ and ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Occupied ​ Occupied ​ Development ​ 1-4 Family ​ Consumer ​ Other ​ Total With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ 478 ​ $ — ​ $ 7,684 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 8,162 Unpaid principal balance ​ 478 ​ — ​ 7,684 ​ — ​ — ​ — ​ — ​ 8,162 Related allowance ​ 10 ​ — ​ 890 ​ — ​ — ​ — ​ — ​ 900 With no related allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ — ​ $ 1,171 ​ $ 992 ​ $ — ​ $ 260 ​ $ — ​ $ — ​ $ 2,423 Unpaid principal balance ​ — ​ 1,171 ​ 992 ​ — ​ 260 ​ — ​ — ​ 2,423 Related allowance ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ 478 ​ $ 1,171 ​ $ 8,676 ​ $ — ​ $ 260 ​ $ — ​ $ — ​ $ 10,585 Unpaid principal balance ​ 478 ​ 1,171 ​ 8,676 ​ — ​ 260 ​ — ​ — ​ 10,585 Related allowance ​ 10 ​ — ​ 890 ​ — ​ — ​ — ​ — ​ 900 Average recorded investment ​ $ 1,178 ​ $ 2,535 ​ $ 4,338 ​ $ — ​ $ 130 ​ $ — ​ $ — ​ $ 8,181 ​ A summary of impaired loans individually evaluated as of December 31, 2019 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - ​ Real Estate - ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial/ ​ Owner ​ Non-Owner ​ and ​ Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Occupied ​ Occupied ​ Development ​ 1 ‑ 4 Family ​ Consumer ​ Other ​ Total With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ 1,878 ​ $ 960 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,838 Unpaid principal balance ​ 1,878 ​ 960 ​ — ​ — ​ — ​ — ​ — ​ 2,838 Related allowance ​ 760 ​ 80 ​ — ​ — ​ — ​ — ​ — ​ 840 With no related allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ — ​ $ 2,938 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,938 Unpaid principal balance ​ — ​ 2,938 ​ — ​ — ​ — ​ — ​ — ​ 2,938 Related allowance ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total: ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment ​ $ 1,878 ​ $ 3,898 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,776 Unpaid principal balance ​ 1,878 ​ 3,898 ​ — ​ — ​ — ​ — ​ — ​ 5,776 Related allowance ​ 760 ​ 80 ​ — ​ — ​ — ​ — ​ — ​ 840 Average recorded investment ​ $ 3,773 ​ $ 5,847 ​ $ — ​ $ — ​ $ 351 ​ $ — ​ $ — ​ $ 9,971
Schedule of interest income on impaired loans	An analysis of interest income on impaired loans for the years ended December 31 follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Interest income in accordance with original terms ​ $ 683 ​ $ 651 ​ $ 1,020 Interest income recognized ​ (519) ​ (129) ​ (416) Reduction in interest income ​ $ 164 ​ $ 522 ​ $ 604 ​
Schedule of Change in the accretable and non accretable Components of Discounts on Loans	The following table represents the change in the accretable and non-accretable components of discounts on loans acquired with deteriorated credit quality during the year ended December 31, 2020 and 2019 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ Accretable ​ Non-accretable ​ Accretable ​ Non-accretable ​ ​ discount ​ discount ​ discount ​ discount Balance at beginning of year ​ $ 222 ​ $ 220 ​ $ 318 ​ $ 745 Acquired balance, net ​ 1,064 ​ 727 ​ 44 ​ 333 Reclassifications between accretable and non-accretable ​ 771 ​ (771) ​ 858 ​ (858) Accretion to loan interest income ​ (807) ​ — ​ (998) ​ — Disposals of loans ​ — ​ — ​ — ​ — Balance at end of year ​ $ 1,250 ​ $ 176 ​ $ 222 ​ $ 220 ​
Schedule of troubled debt restructurings	The following table presents the troubled debt restructurings during the year ended December 31, 2020(dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pre-Modification ​ Post-Modification ​ ​ Number of ​ Outstanding Recorded ​ Outstanding Recorded ​ Contracts Investment Investment ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Real Estate 1 ​ $ 85 $ 85 Residential 1-4 Family 1 ​ 114 114 Totals ​ $ 199 $ 199 ​ The following table presents the troubled debt restructurings during the year ended December 31, 2019 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pre-Modification ​ Post-Modification ​ ​ ​ ​ ​ Outstanding ​ ​ Outstanding ​ ​ Number of ​ ​ Recorded ​ ​ Recorded ​ ​ Contracts ​ ​ Investment ​ ​ Investment Commercial & Industrial ​ 1 ​ $ 113 ​ $ 113 Commercial Real Estate ​ 1 ​ ​ 61 ​ ​ 61 Residential 1-4 Family ​ 2 ​ ​ 372 ​ ​ 196 Totals ​ ​ ​ $ 546 ​ $ 370
Financial Asset Acquired with Credit Deterioration [Member]
LOANS, ALLOWANCE FOR LOAN LOSSES, AND CREDIT QUALITY
Schedule of impaired loans individually	The following table presents loans acquired with deteriorated credit quality as of December 31, 2020 and 2019. No loans in this table had a related allowance at December 31, 2020 and 2019, and therefore, the below disclosures were not expanded to include loans with and without a related allowance (dollar amounts in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ Recorded ​ Unpaid Principal ​ Recorded ​ Unpaid Principal ​ Investment Balance Investment Balance Commercial & Industrial ​ $ 805 ​ $ 907 ​ $ 191 ​ $ 212 Commercial real estate - owner occupied ​ 3,860 ​ 4,718 ​ 518 ​ 785 Commercial real estate - non-owner occupied ​ 1,245 ​ 1,410 ​ — ​ — Construction and development ​ 81 ​ 90 ​ 213 ​ 237 Residential 1 ‑ ​ 870 ​ 1,162 ​ 901 ​ 1,031 Consumer ​ — ​ — ​ — ​ — Other ​ — ​ — ​ — ​ — ​ ​ $ 6,861 ​ $ 8,287 ​ $ 1,823 ​ $ 2,265 ​

Related Party Matters (Tables)

Related Party Matters (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Matters
Summary of loans to directors, executive officers, principal shareholders, and their affiliates	A summary of loans to directors, executive officers, principal shareholders, and their affiliates for the years ended December 31 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Balances at beginning ​ $ 68,554 ​ $ 84,103 New loans and advances ​ 54,723 ​ 27,886 Repayments ​ (56,181) ​ (43,435) Balance at end ​ $ 67,096 ​ $ 68,554 ​

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	12 Months Ended
	Dec. 31, 2020
Mortgage Servicing Rights
Schedule of analysis of activity in the MSR asset	Following is an analysis of activity for the years ended December 31 in servicing rights assets that are measured at fair value (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Fair value at beginning of year ​ $ 4,287 ​ $ 3,085 MSR asset acquired ​ ​ 384 ​ ​ 1,859 Servicing asset additions ​ 1,375 ​ 740 Loan payments and payoffs ​ (1,533) ​ (821) Changes in valuation inputs and assumptions used in the valuation model ​ (787) ​ (576) Amount recognized through earnings ​ (945) ​ (657) Fair value at end of year ​ $ 3,726 ​ $ 4,287 Unpaid principal balance of loans serviced for others ​ $ 612,707 ​ $ 554,374 Mortgage servicing rights as a percent of loans serviced for others ​ 0.61 ​ 0.77 ​

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Premises and Equipment
Summary of analysis of premises and equipment	An analysis of premises and equipment at December 31 follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Land and land improvements ​ $ 4,895 ​ $ 4,584 Buildings and building improvements ​ 39,773 ​ 31,754 Furniture and equipment ​ 5,826 ​ 5,360 Totals ​ 50,494 ​ 41,698 Less accumulated depreciation ​ 8,902 ​ 8,111 Right-of-use lease asset (see Note 21) ​ ​ 1,591 ​ ​ 1,699 Premises and equipment, net ​ $ 43,183 ​ $ 35,286 ​

Other Real Estate Owned (Tables

Other Real Estate Owned (Tables)	12 Months Ended
	Dec. 31, 2020
Other Real Estate Owned
Changes in OREO during the period	Changes in OREO for the years ended December 31 were as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Beginning of year ​ $ 6,888 ​ $ 3,592 Transfers in ​ 1,892 ​ 4,927 Depreciation ​ (28) ​ — (Loss) gain on sale of OREO and valuation allowance ​ (1,395) ​ 73 Sales ​ (5,472) ​ (1,704) End of year ​ $ 1,885 ​ $ 6,888 ​
Schedule of activity in the valuation allowance	Activity in the valuation allowance for the years ended December 31 was as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Beginning of year ​ $ 2,121 ​ $ 2,208 ​ $ 2,078 Additions charged to expense ​ 356 ​ 13 ​ 130 Valuation relieved due to sale of OREO ​ (2,365) ​ (100) ​ — End of year ​ $ 112 ​ $ 2,121 ​ $ 2,208

Identifiable Intangible Assets

Identifiable Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Identifiable Intangible Assets
Schedule of gross carrying amount and accumulated amortization of intangible assets (excluding goodwill)	The gross carrying amount and accumulated amortization of intangible assets (excluding goodwill) for the years ended December 31 are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ 2019 ​ Gross Intangible Gross Intangible ​ ​ Carrying ​ Accumulated ​ Carrying ​ Accumulated ​ ​ Amount ​ Amortization ​ Amount ​ Amortization Core deposit intangible ​ $ 9,030 ​ $ 3,589 ​ $ 7,333 ​ $ 1,954 Mortgage servicing rights ​ 3,726 ​ — ​ 4,287 ​ — Totals ​ $ 12,756 ​ $ 3,589 ​ $ 11,620 ​ $ 1,954 ​
Schedule of amortization expense	Mortgage servicing rights are carried at fair value; therefore, there is no amortization expense. The following table shows the estimated future amortization expense of amortizing intangible assets. The projections of amortization expense are based on existing asset balances as of December 31, 2020 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ Core ​ ​ Deposit ​ ​ Intangible 2021 ​ $ 1,405 2022 ​ 1,174 2023 ​ 942 2024 ​ 711 2025 ​ 496 Thereafter ​ 713 Total ​ $ 5,441

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2020
Deposits
Schedule of composition of deposits	The composition of deposits at December 31 is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Noninterest-bearing demand deposits ​ $ 715,646 ​ $ 476,465 Interest-bearing demand deposits ​ 223,753 ​ 184,843 Savings deposits ​ 1,033,253 ​ 792,997 Time deposits ​ 329,154 ​ 373,430 Brokered certificates of deposit ​ 19,157 ​ 15,576 Total deposits ​ $ 2,320,963 ​ $ 1,843,311 ​
Schedule of maturities of time deposits	The scheduled maturities of time deposits at December 31, 2020, are summarized as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ 2021 $ 241,832 2022 ​ 54,483 2023 ​ 29,921 2024 ​ 9,269 2025 ​ 4,248 Thereafter ​ 8,558 Total ​ $ 348,311

Securities Sold Under Repurch_2

Securities Sold Under Repurchase Agreements (Tables)	12 Months Ended
	Dec. 31, 2020
Securities Sold Under Repurchase Agreements
Schedule of securities sold under repurchase agreements	Information concerning securities sold under repurchase agreements at December 31 consists of the following (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Outstanding balance at the end of the year ​ $ 36,377 ​ $ 45,865 ​ $ 31,489 ​ Weighted average interest rate at the end of the year ​ 0.04 % 1.47 % 2.43 % Average balance during the year ​ $ 34,984 ​ $ 21,522 ​ $ 22,315 ​ Average interest rate during the year ​ 0.32 % 2.14 % 1.79 % Maximum month end balance during the year ​ $ 79,718 ​ $ 45,865 ​ $ 48,010 ​ ​ ​ ​ ​

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Payable.
Schedule of advance rate and maturities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Maturity Rate 2020 2019 ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Fixed rate, fixed term 01/27/2020 1.42 % $ — ​ $ 1,000 Fixed rate, fixed term ​ 11/02/2020 ​ 1.28 % ​ — ​ ​ 400 Fixed rate, fixed term ​ 01/22/2021 ​ 1.67 % ​ 2,000 ​ ​ 2,000 Fixed rate, fixed term ​ 01/25/2021 ​ 2.37 % ​ 5,000 ​ ​ 5,000 Fixed rate, fixed term ​ 01/27/2021 ​ 1.60 % ​ 1,000 ​ ​ 1,000 Fixed rate, fixed term ​ 03/29/2021 ​ 0.00 % ​ 2,377 ​ ​ — Fixed rate, fixed term ​ 05/03/2021 ​ 2.87 % ​ 500 ​ ​ — Fixed rate, fixed term ​ 05/03/2021 ​ 0.00 % ​ 4,000 ​ ​ — Fixed rate, fixed term ​ 05/03/2021 ​ 0.00 % ​ 4,000 ​ ​ — Fixed rate, fixed term ​ 06/28/2021 ​ 2.00 % ​ 250 ​ ​ — Fixed rate, fixed term ​ 11/03/2021 ​ 1.46 % ​ 400 ​ ​ 400 Fixed rate, fixed term ​ 12/08/2021 ​ 2.87 % ​ 500 ​ ​ — Fixed rate, fixed term ​ 12/27/2021 ​ 1.99 % ​ 250 ​ ​ — Fixed rate, fixed term ​ 01/24/2022 ​ 2.51 % ​ 250 ​ ​ — Fixed rate, fixed term ​ 05/02/2022 ​ 2.98 % ​ 500 ​ ​ — Fixed rate, fixed term 06/08/2022 2.92 % 500 ​ — Fixed rate, fixed term 08/08/2022 1.76 % — ​ 10,000 Fixed rate, fixed term 11/21/2022 3.02 % 600 ​ — Fixed rate, fixed term 08/08/2023 1.74 % — ​ 10,000 Fixed rate, fixed term 11/21/2023 3.06 % 600 ​ — Fixed rate, fixed term 08/08/2024 1.75 % — ​ 10,000 Fixed rate, fixed term 01/04/2027 0.00 % 103 ​ — Fixed rate, fixed term 04/22/2030 0.00 % 508 ​ — ​ ​ ​ ​ ​ ​ $ 23,338 ​ $ 39,800
Schedule of Future maturities of borrowings	Future maturities of borrowings were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ ​ ​ 1 year or less $ 20,277 ​ $ 1,400 1 to 2 years ​ ​ 1,850 ​ 8,400 2 to 3 years ​ ​ 600 ​ 10,000 3 to 4 years ​ ​ — ​ 10,000 4 to 5 years ​ ​ — ​ 10,000 Over 5 years ​ ​ 611 ​ ​ — ​ ​ $ 23,338 ​ $ 39,800

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Taxes
Schedule of components of income tax expense (benefit)	The components of the provision for income taxes for the years ended December 31 are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Current tax expense: ​ ​ ​ Federal ​ $ 8,181 ​ $ 4,327 ​ $ 3,349 State ​ 3,766 ​ 2,412 ​ 2,100 Total current ​ 11,947 ​ 6,739 ​ 5,449 Deferred tax expenses (benefit): ​ ​ ​ ​ ​ Federal ​ (82) ​ 620 ​ 815 State ​ (34) ​ 236 ​ 333 Total deferred ​ (116) ​ 856 ​ 1,148 Total provision for income taxes ​ $ 11,831 ​ $ 7,595 ​ $ 6,597
Schedule of effective income tax rate reconciliation	A summary of the sources of differences between income taxes at the federal statutory rate and the provision for income taxes for the years ended December 31 follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Tax expense at statutory rate ​ $ 10,474 ​ $ 7,201 ​ $ 6,731 Increase (decrease) in taxes resulting from: ​ ​ ​ ​ ​ Tax-exempt interest ​ (1,369) ​ (1,320) ​ (1,105) State taxes (net of Federal benefit) ​ 2,987 ​ 1,923 ​ 1,674 Cash surrender value of life insurance ​ (156) ​ (131) ​ (128) ESOP dividend ​ (78) ​ (93) ​ (81) Tax credits ​ — ​ (39) ​ (91) Nondeductible expenses associated with acquisition ​ 71 ​ — ​ — Other ​ (98) ​ 54 ​ (403) Total provision for income taxes ​ $ 11,831 ​ $ 7,595 ​ $ 6,597
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Deferred tax assets: ​ ​ Deferred compensation ​ $ 95 ​ $ 1,036 Premises and equipment ​ 59 ​ 398 Allowance for loan losses ​ 4,810 ​ 3,104 Accrued vacation and severance ​ 35 ​ 35 Other real estate owned ​ 68 ​ 360 Other ​ 464 ​ 244 Total deferred tax assets ​ 5,531 ​ 5,177 Deferred tax liabilities: ​ ​ ​ ​ Investment in acquisition and discount accretion ​ (122) ​ (148) Mortgage servicing rights ​ (1,006) ​ (1,168) Other investments ​ (309) ​ (248) Prepaid expenses ​ (71) ​ (63) Investment in minority owned subsidiaries ​ (2,704) ​ (2,509) Goodwill and other intangibles ​ (963) ​ (1,000) Purchase accounting ​ (538) ​ (339) Unrealized gain on securities available for sale ​ (2,129) ​ (743) Total deferred tax liabilities ​ (7,842) ​ (6,218) Net deferred tax liability ​ $ (2,311) ​ $ (1,041) ​

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Employee Benefit Plans
Schedule of share-based compensation, restricted stock and restricted stock units activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ For the year ended ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ Weighted- ​ Weighted- ​ ​ ​ ​ Average Grant- ​ ​ ​ Average Grant- ​ ​ Shares ​ Date Fair Value ​ Shares ​ Date Fair Value Restricted Stock ​ ​ Outstanding at beginning of year 50,676 ​ $ 43.03 51,776 ​ $ 34.27 Granted 27,466 ​ 60.76 17,015 ​ 56.62 Vested (18,623) ​ 37.28 (17,212) ​ 30.54 Forfeited or cancelled (2,344) ​ 51.27 (903) ​ 41.01 Outstanding at end of year 57,175 ​ $ 53.08 50,676 ​ $ 43.03

Stockholders' Equity and Regu_2

Stockholders' Equity and Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity and Regulatory Matters
Schedule of Actual and required capital amounts and ratios	Actual and required capital amounts and ratios are presented below (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To Be Well ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ Capitalized Under ​ ​ ​ ​ ​ ​ ​ For Capital ​ Adeqaucy with ​ Prompt Corrective ​ ​ Actual ​ Adequacy Purposes ​ Capital Buffer ​ Action Provisions ​ Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2020 ​ ​ ​ ​ ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ Corporation ​ $ 263,344 11.74 % ​ NA NA ​ ​ NA NA ​ ​ NA NA ​ Bank ​ $ 263,129 11.73 % $ 179,420 8.00 % $ 235,489 10.50 % $ 224,275 10.00 % Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ Corporation ​ $ 228,186 10.17 % ​ NA NA ​ ​ NA NA ​ NA NA ​ Bank ​ $ 245,471 10.95 % $ 134,565 6.00 % $ 190,634 8.50 % $ 179,420 8.00 % Common Equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ ​ Corporation ​ $ 228,186 10.17 % ​ NA NA ​ ​ NA NA ​ NA NA ​ Bank ​ $ 245,471 10.95 % $ 100,924 4.50 % $ 156,993 7.00 % $ 145,779 6.50 % Tier 1 capital (to average assets): ​ ​ ​ ​ ​ ​ ​ Corporation ​ $ 228,186 8.74 % ​ NA NA ​ NA NA ​ NA NA ​ Bank ​ $ 245,471 9.46 % $ 103,814 4.00 % $ 103,814 4.00 % $ 129,768 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To Be Well ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ Capitalized Under ​ ​ ​ ​ ​ ​ ​ For Capital ​ Adequacy with ​ Prompt Corrective ​ ​ Actual ​ Adequacy Purposes ​ Capital Buffer ​ Action Provisions ​ Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total capital (to risk-weighted assets): ​ ​ ​ ​ ​ Corporation ​ $ 208,900 10.35 % ​ NA NA ​ ​ NA NA ​ ​ NA NA ​ Bank ​ $ 215,347 10.69 % $ 161,163 8.00 % $ 211,527 10.50 % $ 201,454 10.00 % Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ ​ Corporation ​ $ 178,882 8.86 % ​ NA NA ​ ​ NA NA ​ NA NA ​ Bank ​ $ 203,951 10.12 % $ 120,872 6.00 % $ 171,236 8.50 % $ 161,163 8.00 % Common Equity Tier 1 capital (to risk-weighted assets): ​ ​ ​ ​ ​ Corporation ​ $ 178,882 8.86 % ​ NA NA ​ ​ NA NA ​ NA NA ​ Bank ​ $ 203,951 10.12 % $ 90,654 4.50 % $ 141,018 7.00 % $ 130,945 6.50 % Tier 1 capital (to average assets): ​ ​ ​ ​ ​ Corporation ​ $ 178,882 8.46 % ​ NA NA ​ NA NA ​ NA NA ​ Bank ​ $ 203,951 9.67 % $ 84,390 4.00 % $ 84,390 4.00 % $ 105,487 5.00 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies
Schedule of Commitments and contingencies outstanding	The following commitments were outstanding at December 31 (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount ​ ​ 2020 2019 Commitments to extend credit: ​ ​ Fixed ​ $ 72,298 ​ $ 49,741 Variable ​ 388,738 ​ 333,468 Credit card arrangements ​ 10,867 ​ 11,148 Letters of credit ​ 7,567 ​ 17,121 ​

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases
Schedule of lease cost and other information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, 2020 December 31, 2019 ​ ​ (dollar amounts in Thousands) Amortization of ROU Assets - Operating Leases ​ $ 108 ​ $ 45 ​ Interest on Lease Liabilities - Operating Leases ​ 26 ​ ​ 87 ​ Operating Lease Cost (Cost resulting from lease payments) ​ 133 ​ ​ 132 ​ New ROU Assets - Operating Leases ​ — ​ ​ 1,744 ​ Weighted Average Lease Term (Years) - Operating Leases ​ 32.75 ​ ​ 31.56 ​ Weighted Average Discount Rate - Operating Leases ​ ​ 5.50 % ​ 5.50 %
Schedule of maturity analysis of operating lease liabilities	A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liabilities is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 December 31, 2029 Operating lease payments due: ​ ​ ​ ​ Within one year ​ $ 98 ​ $ 133 After one but within two years ​ ​ 86 ​ 140 After two but within three years ​ ​ 86 ​ 113 After three but within four years ​ ​ 85 ​ 86 After four years but within five years ​ ​ 85 ​ 86 After five years ​ ​ 3,325 ​ 3,411 Total undiscounted cash flows ​ ​ 3,765 ​ 3,969 Discount on cash flows ​ ​ (2,174) ​ (2,270) Total operating lease liabilities ​ $ 1,591 ​ $ 1,699

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value of Financial Instruments
Schedule of fair value of assets measured at fair value on a recurring basis	Information regarding the fair value of assets measured at fair value on a recurring basis is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Instruments Markets Other Significant ​ ​ Measured ​ for Identical ​ Observable ​ Unobservable ​ ​ At Fair ​ Assets ​ Inputs ​ Inputs ​ ​ Value ​ (Level 1) ​ (Level 2) ​ (Level 3) December 31, 2020 ​ ​ ​ ​ Assets ​ ​ ​ ​ Securities available for sale ​ ​ ​ ​ ​ Obligations of U.S.Government sponsored agencies ​ $ 18,779 ​ $ — ​ $ 18,779 ​ $ — Obligations of states and political subdivisions ​ 72,217 ​ — ​ 72,217 ​ — Mortgage-backed securities ​ 44,199 ​ — ​ 44,199 ​ — Corporate notes ​ 27,743 ​ — ​ 27,743 ​ — Certificates of deposit ​ ​ 2,101 ​ ​ — ​ ​ 2,101 ​ ​ — Mortgage servicing rights ​ 3,726 ​ — ​ 3,726 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ Assets ​ ​ ​ ​ Securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of U.S. Government sponsored agencies ​ $ 12,060 ​ $ — ​ $ 12,060 ​ $ — Obligations of states and political subdivisions ​ ​ 54,771 ​ — ​ 54,771 ​ ​ — Mortgage-backed securities ​ 51,720 ​ — ​ 51,720 ​ — Corporate notes ​ 62,955 ​ — ​ 62,955 ​ — Mortgage servicing rights ​ ​ 4,287 ​ ​ — ​ ​ 4,287 ​ ​ —
Schedule of fair value of assets measured on a recurring basis using significant unobservable inputs	Fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) are as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Total securities at beginning of year ​ $ — ​ $ 400 Included in earnings ​ — ​ — Included in other comprehensive income ​ — ​ — Purchases, issuance, and settlements ​ — ​ (400) Transfer in and/or out of level 3 ​ — ​ — Total securities at end of year ​ $ — ​ $ —
Schedule of fair value of assets measured on a non-recurring basis	Information regarding the fair value of assets measured at fair value on a non-recurring basis is as follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ In Active ​ Significant ​ ​ ​ ​ ​ Assets ​ Markets ​ Other ​ Significant ​ ​ Measured ​ for Identical ​ Observable ​ Unobservable ​ ​ At Fair ​ Assets ​ Inputs ​ Inputs ​ ​ Value ​ (Level 1) ​ (Level 2) ​ (Level 3) December 31, 2020 ​ ​ ​ ​ OREO ​ $ 1,885 ​ $ — ​ $ — ​ $ 1,885 Impaired Loans, net of impairment reserve ​ 16,784 ​ — ​ — ​ 16,784 ​ ​ $ 18,669 ​ $ — ​ $ — ​ $ 18,669 December 31, 2019 ​ ​ ​ ​ OREO ​ $ 6,888 ​ $ — ​ $ — ​ $ 6,888 Impaired Loans, net of impairment reserve ​ 6,847 ​ — ​ — ​ 6,847 ​ ​ $ 13,735 ​ $ — ​ $ — ​ $ 13,735 ​
Schedule of fair value measurement on inputs and valuation techniques	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Unobservable ​ Range of ​ Average ​ ​ Valuation Technique ​ Inputs ​ Discounts Discount ​ As of December 31, 2020 ​ OREO Third party appraisals, sales contracts or brokered price opinions Collateral discounts and estimated costs to sell 23%-100 % 40.2 % Impaired loans Third party appraisals and discounted cash flows Collateral discounts and discount rates 0%-100 % 7.8 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ OREO Third party appraisals, sales contracts or brokered price opinions Collateral discounts and estimated costs to sell 0% - 61 % 33.5 % Impaired loans Third party appraisals and discounted cash flows Collateral discounts and discount rates 0% - 100 % 6.1 %
Schedule of carrying value and estimated fair value of financial instruments	The carrying value and estimated fair value of financial instruments at December 31 follows (dollar amounts in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value ​ amount Level 1 Level 2 Level 3 Total December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 170,219 ​ $ 170,219 ​ $ — ​ $ — ​ $ 170,219 Securities held to maturity ​ 6,669 ​ — ​ 6,688 ​ — ​ 6,688 Securities available for sale ​ 165,039 ​ — ​ 165,039 ​ — ​ 165,039 Loans held for sale ​ 809 ​ — ​ — ​ 809 ​ 809 Loans, net ​ 2,173,802 ​ — ​ — ​ 2,168,865 ​ 2,168,865 Other investments, at cost ​ 8,896 ​ — ​ — ​ 8,896 ​ 8,896 Mortgage servicing rights ​ 3,726 ​ — ​ 3,726 ​ — ​ 3,726 Cash surrender value of life insurance ​ 31,394 ​ 31,394 ​ — ​ — ​ 31,394 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ $ 2,320,963 ​ $ — ​ $ — ​ $ 2,309,489 ​ $ 2,309,489 Securities sold under repurchase agreements ​ 36,377 ​ — ​ 36,377 ​ — ​ ​ 36,377 Notes payable ​ ​ 23,469 ​ ​ — ​ ​ 23,469 ​ ​ — ​ ​ 23,469 Subordinated notes ​ 17,500 ​ ​ — ​ ​ 17,500 ​ ​ — ​ ​ 17,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ amount ​ Level 1 ​ Level 2 ​ Level 3 ​ Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 86,452 ​ $ 86,452 ​ $ — ​ $ — ​ $ 86,452 Securities held to maturity ​ 43,734 ​ — ​ 44,803 ​ — ​ 44,803 Securities available for sale ​ 181,506 ​ — ​ 181,506 ​ — ​ 181,506 Loans held for sale ​ 587 ​ — ​ — ​ 587 ​ 587 Loans, net ​ 1,724,947 ​ — ​ — ​ 1,723,542 ​ 1,723,542 Other investments, at cost ​ 4,933 ​ — ​ — ​ 4,933 ​ 4,933 Mortgage servicing rights ​ 4,287 ​ — ​ 4,287 ​ — ​ 4,287 Cash surrender value of life insurance ​ ​ 24,945 ​ 24,945 ​ — ​ — ​ 24,945 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ $ 1,843,311 ​ $ — ​ $ — ​ $ 1,783,638 ​ $ 1,783,638 Securities sold under repurchase agreements ​ 45,865 ​ ​ — ​ ​ 45,865 ​ ​ — ​ ​ 45,865 Notes payable ​ ​ 49,790 ​ — ​ 49,790 ​ — ​ ​ 49,790 Subordinated notes ​ 18,622 ​ ​ — ​ ​ 18,622 ​ ​ — ​ ​ 18,622 ​

Parent Company Only Financial_2

Parent Company Only Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2020
Parent Company Only Financial Statements
Condensed Balance Sheet	Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31 ​ 2020 2019 ​ ​ (In Thousands) Assets ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,584 ​ $ 63 Investment in Bank ​ 312,142 ​ 254,299 Investment in Veritas ​ 39 ​ 4,852 Other assets ​ 8 ​ 557 TOTAL ASSETS ​ $ 313,773 ​ $ 259,771 Liabilities and Stockholders’ Equity ​ ​ Liabilities ​ ​ Notes payable ​ $ — ​ $ 10,000 Subordinated notes ​ 17,500 ​ 18,500 Other liabilities ​ 1,416 ​ 1,060 Total liabilities ​ 18,916 ​ 29,560 Stockholders’ equity: ​ ​ Common stock ​ 85 ​ 79 Additional paid-in capital ​ 92,847 ​ 63,085 Retained earnings ​ 221,393 ​ 189,494 Treasury stock, at cost ​ (25,227) ​ (24,941) Accumulated other comprehensive income ​ 5,759 ​ 2,494 Total stockholders’ equity ​ 294,857 ​ 230,211 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY ​ $ 313,773 ​ $ 259,771 ​
Condensed Income Statement	Statements of Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31 ​ 2020 2019 2018 ​ ​ (In Thousands) Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends received from Bank ​ $ 21,406 ​ $ 16,335 ​ $ 22,275 Equity in undistributed earnings of subsidiaries ​ 18,104 ​ 11,361 ​ 4,029 Other income ​ (7) ​ 234 ​ 74 Total income ​ 39,503 ​ 27,930 ​ 26,378 Other expenses ​ 2,005 ​ 1,611 ​ 1,404 Benefit for income taxes ​ (548) ​ (375) ​ (482) Net income ​ $ 38,046 ​ $ 26,694 ​ $ 25,456
Condensed Cash Flow Statement	Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2020 2019 2018 ​ ​ (In thousands) Cash flow from operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 38,046 ​ $ 26,694 ​ $ 25,456 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ ​ ​ Stock compensation ​ 1,081 ​ 685 ​ 556 Equity in earnings of subsidiaries (includes dividends) ​ (39,410) ​ (27,696) ​ (26,304) Changes in other assets and liabilities: ​ ​ ​ ​ Other assets ​ 606 ​ (329) ​ (49) Other liabilities ​ 478 ​ (33) ​ (90) Net cash provided by (used in) operating activities ​ 801 ​ (679) ​ (431) Cash flows from investing activities, net of effects of business combination: ​ ​ ​ Sale of other investments ​ — ​ 750 ​ — Dividends received from Bank ​ 21,406 ​ 16,335 ​ 22,275 Dividends received from Veritas ​ 2,121 ​ — ​ — Net cash used in business combination ​ (4,474) ​ (14,241) ​ — Contribution to subsidiaries ​ (65) ​ (2,620) ​ — Net cash provided by investing activities ​ 18,988 ​ 224 ​ 22,275 Cash flows from financing activities, net of effects of business combination: ​ ​ ​ Repayment of notes payable ​ (10,000) ​ — ​ (8,500) Proceeds from notes payable ​ ​ — ​ ​ 10,000 ​ ​ — Repayment of subordinate notes ​ (7,122) ​ ​ ​ ​ Proceeds from subordinated notes ​ 6,000 ​ — ​ — Cash dividends paid ​ (6,147) ​ (5,463) ​ (4,530) Issuance of common stock ​ 3,368 ​ 114 ​ 1,347 Repurchase of common stock ​ (4,367) ​ (4,205) ​ (10,449) Net cash (used in) provided by financing activities ​ (18,268) ​ 446 ​ (22,132) Net increase (decrease) in cash and cash equivalents ​ 1,521 ​ (9) ​ (288) Cash and cash equivalents at beginning ​ 63 ​ 72 ​ 360 Cash and cash equivalents at end ​ $ 1,584 ​ $ 63 ​ $ 72 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental schedule of noncash activities: ​ ​ ​ Amortization of unrealized holding gains on securities transferred from available for sale to held to maturity recognized in other comprehensive income, net of tax ​ ​ (81) ​ $ (35) ​ $ (60) Change in unrealized gains and losses on investment securities available for sale, net of tax ​ 3,756 ​ 2,958 ​ (1,367)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Common Share
Schedule of Earnings Per Common Share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, ​ 2020 2019 2018 Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income available to common shareholders ​ $ 38,046 ​ $ 26,694 ​ $ 25,456 Less: Earnings allocated to participating securities ​ $ (287) ​ $ (200) ​ $ — Net income allocated to common shareholders ​ $ 37,759 ​ $ 26,494 ​ $ 25,456 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding including participating securities ​ ​ 7,497,862 ​ ​ 6,820,225 ​ ​ 6,673,758 Less: Participating securities (1) ​ ​ (56,606) ​ ​ (51,226) ​ ​ — Average shares ​ ​ 7,441,256 ​ ​ 6,768,999 ​ ​ 6,673,758 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common shares ​ $ 5.07 ​ $ 3.91 ​ $ 3.81 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income available to common shareholders ​ $ 38,046 ​ $ 26,694 ​ $ 25,456 Weighted average common shares outstanding for basic earnings per common share ​ ​ 7,441,256 ​ ​ 6,768,999 ​ ​ 6,673,758 Add: Dilutive effects of stock based compensation awards ​ ​ 39,821 ​ ​ 110,385 ​ ​ — Average shares and dilutive potential common shares ​ ​ 7,481,077 ​ ​ 6,879,384 ​ ​ 6,673,758 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share ​ $ 5.07 ​ $ 3.87 ​ $ 3.81

Quarterly Results of Operatio_2

Quarterly Results of Operations (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Results of Operations
Quarterly Financial Information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 Quarters Fourth Third Second First ​ ​ (dollars in thousands, except share and per share data) Interest income ​ $ 27,094 ​ $ 25,928 ​ $ 24,382 ​ $ 23,296 Interest expense ​ 2,623 ​ 3,003 ​ 3,586 ​ 4,653 Net interest and dividend income ​ 24,471 ​ 22,925 ​ 20,796 ​ 18,643 Provision for loan losses ​ 1,650 ​ 1,350 ​ 3,150 ​ 975 Net interest and dividend income after provision for loan losses ​ 22,821 ​ 21,575 ​ 17,646 ​ 17,668 Noninterest income ​ 6,744 ​ 5,115 ​ 7,764 ​ 3,897 Noninterest expense ​ 13,972 ​ 12,202 ​ 14,438 ​ 12,741 Income before provision for income taxes ​ 15,593 ​ 14,488 ​ 10,972 ​ 8,824 Provision for income taxes ​ 4,063 ​ 3,534 ​ 2,676 ​ 1,558 Net income ​ $ 11,530 ​ $ 10,954 ​ $ 8,296 ​ $ 7,266 Share data ​ ​ ​ ​ Average shares outstanding, basic ​ 7,659,904 ​ 7,673,572 ​ 7,395,199 ​ 7,028,690 Average shares outstanding, diluted ​ ​ 7,682,101 ​ ​ 7,691,326 ​ ​ 7,405,995 ​ ​ 7,128,246 Earnings per share, basic ​ $ 1.49 ​ $ 1.42 ​ $ 1.11 ​ $ 1.03 Earnings per share, diluted ​ $ 1.49 ​ $ 1.42 ​ $ 1.11 ​ $ 1.02 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 Quarters Fourth Third Second First ​ ​ (dollars in thousands, except share and per share data) Interest income ​ $ 23,795 ​ $ 25,489 ​ $ 20,158 ​ $ 19,723 Interest expense ​ 5,015 ​ 5,176 ​ 4,784 ​ 4,523 Net interest and dividend income ​ 18,780 ​ 20,313 ​ 15,374 ​ 15,200 Provision for loan losses ​ 1,125 ​ 3,000 ​ 500 ​ 625 Net interest and dividend income after provision for loan losses ​ 17,655 ​ 17,313 ​ 14,874 ​ 14,575 Noninterest income ​ 3,211 ​ 3,145 ​ 2,736 ​ 3,540 Noninterest expense ​ 11,182 ​ 12,087 ​ 9,955 ​ 9,536 Income before provision for income taxes ​ 9,684 ​ 8,371 ​ 7,655 ​ 8,579 Provision for income taxes ​ 2,225 ​ 1,712 ​ 1,666 ​ 1,992 Net income ​ $ 7,459 ​ $ 6,659 ​ $ 5,989 ​ $ 6,587 Share data ​ ​ ​ ​ Average shares outstanding, basic ​ 7,084,728 ​ 7,036,807 ​ 6,577,016 ​ 6,574,362 Average shares outstanding, diluted ​ ​ 7,182,854 ​ ​ 7,134,674 ​ ​ 6,675,794 ​ ​ 6,608,273 Earnings per share, basic ​ $ 1.05 ​ $ 0.95 ​ $ 0.91 ​ $ 1.00 Earnings per share, diluted ​ $ 1.04 ​ $ 0.93 ​ $ 0.90 ​ $ 1.00

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2020
Building Improvements [Member]
Property, Plant and Equipment, Useful Life	40 years
Land Improvements [Member]
Property, Plant and Equipment, Useful Life	20 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	2 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	7 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash, FDIC Insured Amount	$ 250,000
Cash, Uninsured Amount	31,039,000	$ 1,900,000
Cash Pass-through Reserve, Federal Home Loan Bank	0	26,184,000
Loans and Leases Receivable, Allowance	$ 17,658,000	$ 11,396,000	$ 12,248,000
Weighted average common shares outstanding	7,441,256	6,820,225	6,673,758
Effect of dilutive potential common shares	39,821	82,391	0
Non-homogenous loans [Member] | Minimum [Member]
Loans and Leases Receivable, Allowance	$ 250,000
UFSLLC [Member]
Noncontrolling Interest, Ownership Percentage by Parent	49.80%
Ansay Associates LLC [Member]
Noncontrolling Interest, Ownership Percentage by Parent	40.00%

Acquisitions - Fair value of as

Acquisitions - Fair value of assets and liabilities (Details) - USD ($)	May 15, 2020	Jul. 12, 2019	Dec. 31, 2020	Dec. 31, 2019
Cash, cash equivelants and securities	$ 78,958,000	$ 21,156,000
Other investments	533,000	441,000
Loans	118,411,000	275,322,000
Premises and equipment, net	1,532,000	3,126,000
Core deposit intangible	1,697,000	4,236,000
Other assets	8,787,000	3,487,000
Total assets acquired	209,918,000	307,768,000
Deposits	171,104,000	268,807,000
Subordinated debt	6,500,000	7,195,000
Other borrowings	13,148,000	9,782,000
Other liabilities	949,000	828,000
Total liabilities assumed	191,701,000	286,612,000
Excess of assets acquired over liabilities assumed	18,217,000	21,156,000
Less: purchase price	29,812,000	49,589,000
Goodwill	11,595,000	28,433,000	$ 55,472,000	$ 43,456,000
Refinement to fair value estimates	420,000
Goodwill (after refinement)	12,015,000
Tomah Bancshares Inc [Member]
Cash, cash equivelants and securities	79,614,000
Other investments	533,000
Loans	117,343,000
Premises and equipment, net	2,538,000
Other assets	11,392,000
Total assets acquired	211,420,000
Deposits	170,362,000
Subordinated debt	6,500,000
Other borrowings	12,938,000
Other liabilities	1,923,000
Total liabilities assumed	191,723,000
Excess of assets acquired over liabilities assumed	19,697,000
Less: purchase price	29,800,000
Partnership Community Bancshares, Inc. [Member]
Cash, cash equivelants and securities		21,447,000
Other investments		441,000
Loans		276,279,000
Premises and equipment, net		6,066,000
Other assets		3,668,000
Total assets acquired		307,901,000
Deposits		268,653,000
Subordinated debt		7,000,000
Other borrowings		9,800,000
Other liabilities		841,000
Total liabilities assumed		286,294,000
Excess of assets acquired over liabilities assumed		21,607,000
Less: purchase price		49,589,000
Fair Value Adjustments [Member]
Cash, cash equivelants and securities	(656,000)	(291,000)
Loans	1,068,000	(957,000)
Premises and equipment, net	(1,006,000)	(2,940,000)
Core deposit intangible	1,697,000	4,236,000
Other assets	(2,605,000)	(181,000)
Total assets acquired	(1,502,000)	(133,000)
Deposits	742,000	154,000
Subordinated debt		195,000
Other borrowings	210,000	(18,000)
Other liabilities	(974,000)	(13,000)
Total liabilities assumed	(22,000)	318,000
Excess of assets acquired over liabilities assumed	$ (1,480,000)	$ (451,000)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($)	May 15, 2020	Jul. 12, 2019
Merger consideration	$ 29,812,000	$ 49,589,000
Tomah Bancshares Inc [Member]
Merger consideration	$ 29,800,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	575,641
Payments to Acquire Businesses, Gross	$ 400,000
Business Combination Consideration Transferred Number of Shares Issuable	5.1445
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 29,400,000
Partnership Community Bancshares, Inc. [Member]
Merger consideration		$ 49,589,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares		534,659
Payments to Acquire Businesses, Gross		$ 14,285,000
Business Combination Consideration Transferred Number of Shares Issuable		0.34879
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 17.3001
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned		$ 35,303,000
Business Acquisition, Share Price		$ 66.03

Securities - Securities availab

Securities - Securities available for sale (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Marketable Securities [Line Items]
Available for sale securities, Amortized Cost	$ 157,154	$ 178,376
Available for sale securities, Gross Unrealized Gains	8,023	3,357
Available for sale securities, Gross Unrealized Losses	(138)	(227)
Available for sale securities, Estimated Fair Value	165,039	181,506
Corporate notes
Marketable Securities [Line Items]
Available for sale securities, Amortized Cost	27,358	62,794
Available for sale securities, Gross Unrealized Gains	470	172
Available for sale securities, Gross Unrealized Losses	(85)	(11)
Available for sale securities, Estimated Fair Value	27,743	62,955
Certificates of deposit
Marketable Securities [Line Items]
Available for sale securities, Amortized Cost	2,063
Available for sale securities, Gross Unrealized Gains	38
Available for sale securities, Estimated Fair Value	2,101
Obligations of U.S. Government sponsored agencies
Marketable Securities [Line Items]
Available for sale securities, Amortized Cost	18,276	12,218
Available for sale securities, Gross Unrealized Gains	556	0
Available for sale securities, Gross Unrealized Losses	(53)	(158)
Available for sale securities, Estimated Fair Value	18,779	12,060
Obligations of states and political subdivisions [Member]
Marketable Securities [Line Items]
Available for sale securities, Amortized Cost	67,653	52,594
Available for sale securities, Gross Unrealized Gains	4,564	2,197
Available for sale securities, Gross Unrealized Losses		(20)
Available for sale securities, Estimated Fair Value	72,217	54,771
Mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available for sale securities, Amortized Cost	41,804	50,770
Available for sale securities, Gross Unrealized Gains	2,395	988
Available for sale securities, Gross Unrealized Losses		(38)
Available for sale securities, Estimated Fair Value	$ 44,199	$ 51,720

Securities - Securities held to

Securities - Securities held to maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Marketable Securities [Line Items]
Held to maturity securities, Amortized Cost	$ 6,669	$ 43,734
Held to maturity securities, Gross Unrealized Gains		1,091
Held to maturity securities, Gross Unrealized Losses		(22)
Held to Maturity Total, Estimated Fair Value	6,688	44,803
U.S. Treasury securities [Member]
Marketable Securities [Line Items]
Held to maturity securities, Amortized Cost		33,527
Held to maturity securities, Gross Unrealized Gains		1,076
Held to maturity securities, Gross Unrealized Losses		(22)
Held to Maturity Total, Estimated Fair Value		34,581
Obligations of states and political subdivisions [Member]
Marketable Securities [Line Items]
Held to maturity securities, Amortized Cost	6,669	10,207
Held to maturity securities, Gross Unrealized Gains	19	15
Held to maturity securities, Gross Unrealized Losses	0	0
Held to Maturity Total, Estimated Fair Value	$ 6,688	$ 10,222

Securities - Fair value and gro

Securities - Fair value and gross unrealized losses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Marketable Securities [Line Items]
Available for Sale, Less Than 12 Months Fair Value	$ 13,530	$ 25,658
Available for Sale, Greater Than 12 Months Fair Value	0	3,186
Available for Sale, Total Fair Value	13,530	28,844
Available for Sale, Less Than 12 Months Unrealized Losses	(138)	(214)
Available for Sale, Greater Than 12 Months Unrealized Losses	0	(13)
Available for Sale, Total Unrealized Losses	(138)	(227)
Corporate notes
Marketable Securities [Line Items]
Available for Sale, Less Than 12 Months Fair Value	7,890	3,925
Available for Sale, Greater Than 12 Months Fair Value	0	0
Available for Sale, Total Fair Value	7,890	3,925
Available for Sale, Less Than 12 Months Unrealized Losses	(85)	(11)
Available for Sale, Greater Than 12 Months Unrealized Losses	0	0
Available for Sale, Total Unrealized Losses	(85)	(11)
Obligations of U.S. Government sponsored agencies
Marketable Securities [Line Items]
Available for Sale, Less Than 12 Months Fair Value	5,640	12,059
Available for Sale, Greater Than 12 Months Fair Value	0	0
Available for Sale, Total Fair Value	5,640	12,059
Available for Sale, Less Than 12 Months Unrealized Losses	(53)	(158)
Available for Sale, Greater Than 12 Months Unrealized Losses	0	0
Available for Sale, Total Unrealized Losses	$ (53)	(158)
Obligations of states and political subdivisions [Member]
Marketable Securities [Line Items]
Available for Sale, Less Than 12 Months Fair Value		5,636
Available for Sale, Greater Than 12 Months Fair Value		999
Available for Sale, Total Fair Value		6,635
Available for Sale, Less Than 12 Months Unrealized Losses		(19)
Available for Sale, Greater Than 12 Months Unrealized Losses		(1)
Available for Sale, Total Unrealized Losses		(20)
Mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available for Sale, Less Than 12 Months Fair Value		4,038
Available for Sale, Greater Than 12 Months Fair Value		2,187
Available for Sale, Total Fair Value		6,225
Available for Sale, Less Than 12 Months Unrealized Losses		(26)
Available for Sale, Greater Than 12 Months Unrealized Losses		(12)
Available for Sale, Total Unrealized Losses		(38)
U.S. Treasury securities [Member]
Marketable Securities [Line Items]
Held to Maturity, Less Than 12 Months Fair Value		2,958
Held to Maturity, Greater Than 12 Months Fair Value		0
Held to Maturity, Total Fair Value		2,958
Held to Maturity, Less Than 12 Months Unrealized Losses		(22)
Held to Maturity, Greater Than 12 Months Unrealized Losses		0
Held to Maturity, Total Unrealized Losses		$ (22)

Securities - Summary of amortiz

Securities - Summary of amortized cost and estimated fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Securities
Available for Sale Due in one year or less, Amortized Cost	$ 13,356
Available for Sale Due after one year through five years, Amortized Cost	11,557
Available for Sale Due after five years through ten years, Amortized Cost	15,596
Available for Sale Due after ten years, Amortized Cost	74,841
Available for Sale Subtotal, Amortized Cost	115,350
Available for Sale Mortgage-backed securities, Amortized Cost	41,804
Available for sale securities, Amortized Cost	157,154	$ 178,376
Available for Sale Due in one year or less, Estimated Fair Value	13,350
Available for Sale Due after one year through five years, Estimated Fair Value	12,329
Available for Sale Due after five years through ten years, Estimated Fair Value	16,483
Available for Sale Due after ten years, Estimated Fair Value	78,678
Available for Sale Subtotal, Estimated Fair Value	120,840
Available for Sale Mortgage-backed securities, Estimated Fair Value	44,199
Available for sale securities, Estimated Fair Value	165,039	181,506
Held to Maturity Due in one year or less, Amortized Cost	751
Held to Maturity Due after one year through five years, Amortized Cost	3,523
Held to Maturity Due after five years through ten years, Amortized Cost	2,395
Held to Maturity Subtotal, Amortized Cost	6,669
Held to maturity securities, Amortized Cost	6,669	43,734
Held to Maturity Due in one year or less, Estimated Fair Value	751
Held to Maturity Due after one year through five years, Estimated Fair Value	3,542
Held to Maturity Due after five years through ten years, Estimated Fair Value	2,395
Held to Maturity Subtotal, Estimated Fair Value	6,688
Held to Maturity Total, Estimated Fair Value	$ 6,688	$ 44,803

Securities - Summary of proceed

Securities - Summary of proceeds from sales securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Securities
Proceeds from sales of securities	$ 59,697	$ 45,506	$ 4,467
Gross gains on sales	3,284	657	41
Gross losses on sales	$ (51)	$ (23)	$ (72)

Securities - Additional Informa

Securities - Additional Information (Details)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Carrying Value of Federal Funds Purchased, Securities Sold under Agreements to Repurchase, and Deposits Received for Securities Loaned	$ 134,918,000	$ 137,640,000
Obligations of U.S. Government sponsored agencies
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	4
Obligations of states and political subdivisions [Member]
Debt Securities Number Of Positions	10
Corporate notes
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	2
Debt Securities Number Of Positions	12

Loans (Details)

Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loans and Leases Receivable, Gross	$ 2,194,380	$ 1,736,846
ALL	(17,658)	(11,396)	$ (12,248)
Loans, net of ALL	2,176,722	1,725,450
Deferred loan fees and costs	(2,920)	(503)
Loans, net	2,173,802	1,724,947
Other
Loans and Leases Receivable, Gross	38,054	10,440
ALL	(409)	(53)	(32)
Construction and Development
Loans and Leases Receivable, Gross	140,042	132,296
ALL	(1,027)	(548)	(725)
Commercial/Industrial
Loans and Leases Receivable, Gross	447,344	302,538
ALL	(2,049)	(2,320)	(3,021)
Commercial Real Estate - Owner Occupied
Loans and Leases Receivable, Gross	549,619	459,782
ALL	(6,108)	(4,587)	(3,750)
Commercial Real Estate - Non-Owner Occupied
Loans and Leases Receivable, Gross	443,144	353,723
ALL	(3,904)	(1,578)	(2,100)
Residential 1-4 Family
Loans and Leases Receivable, Gross	545,818	448,605
ALL	(3,960)	(2,169)	(2,472)
Consumer
Loans and Leases Receivable, Gross	30,359	29,462
ALL	$ (201)	$ (141)	$ (148)

Loans - ALL by loan type (Detai

Loans - ALL by loan type (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ALL - Beginning Balance	$ 11,396	$ 12,248
Charge-offs	(2,091)	(6,678)
Recoveries	1,228	576
Provision	7,125	5,250	$ 2,935
ALL - Ending Balance	17,658	11,396	12,248
ALL ending balance individually evaluated for impairment	900	840
ALL ending balance collectively evaluated for impairment	16,758	10,556
Loans outstanding - Ending Balance	2,194,380	1,736,846
Loans ending balance individually evaluated for impairment	10,585	2,838
Loans ending balance collectively evaluated for impairment	2,183,795	1,734,008
Other
ALL - Beginning Balance	53	32
Charge-offs	(35)	(41)
Recoveries	13	8
Provision	378	54
ALL - Ending Balance	409	53	32
ALL ending balance individually evaluated for impairment	0	0
ALL ending balance collectively evaluated for impairment	409	53
Loans outstanding - Ending Balance	38,054	10,440
Loans ending balance individually evaluated for impairment	0	0
Loans ending balance collectively evaluated for impairment	38,054	10,440
Construction and Development
ALL - Beginning Balance	548	725
Charge-offs	(33)	0
Recoveries	0	0
Provision	512	(177)
ALL - Ending Balance	1,027	548	725
ALL ending balance individually evaluated for impairment	0	0
ALL ending balance collectively evaluated for impairment	1,027	548
Loans outstanding - Ending Balance	140,042	132,296
Loans ending balance individually evaluated for impairment	0	0
Loans ending balance collectively evaluated for impairment	140,042	132,296
Commercial/Industrial
ALL - Beginning Balance	2,320	3,021
Charge-offs	(1,087)	(1,229)
Recoveries	4	11
Provision	812	517
ALL - Ending Balance	2,049	2,320	3,021
ALL ending balance individually evaluated for impairment	10	760
ALL ending balance collectively evaluated for impairment	2,039	1,560
Loans outstanding - Ending Balance	447,344	302,538
Loans ending balance individually evaluated for impairment	478	1,878
Loans ending balance collectively evaluated for impairment	446,866	300,660
Commercial Real Estate - Owner Occupied
ALL - Beginning Balance	4,587	3,750
Charge-offs	(783)	(4,994)
Recoveries	1,129	356
Provision	1,175	5,475
ALL - Ending Balance	6,108	4,587	3,750
ALL ending balance individually evaluated for impairment	0	80
ALL ending balance collectively evaluated for impairment	6,108	4,507
Loans outstanding - Ending Balance	549,619	459,782
Loans ending balance individually evaluated for impairment	1,171	960
Loans ending balance collectively evaluated for impairment	548,448	458,822
Commercial Real Estate - Non-Owner Occupied
ALL - Beginning Balance	1,578	2,100
Charge-offs	0	(62)
Recoveries	40	60
Provision	2,286	(520)
ALL - Ending Balance	3,904	1,578	2,100
ALL ending balance individually evaluated for impairment	890	0
ALL ending balance collectively evaluated for impairment	3,014	1,578
Loans outstanding - Ending Balance	443,144	353,723
Loans ending balance individually evaluated for impairment	8,676	0
Loans ending balance collectively evaluated for impairment	434,468	353,723
Residential 1-4 Family
ALL - Beginning Balance	2,169	2,472
Charge-offs	(63)	(276)
Recoveries	42	130
Provision	1,812	(157)
ALL - Ending Balance	3,960	2,169	2,472
ALL ending balance individually evaluated for impairment	0	0
ALL ending balance collectively evaluated for impairment	3,960	2,169
Loans outstanding - Ending Balance	545,818	448,605
Loans ending balance individually evaluated for impairment	260	0
Loans ending balance collectively evaluated for impairment	545,558	448,605
Consumer
ALL - Beginning Balance	141	148
Charge-offs	(90)	(76)
Recoveries	0	11
Provision	150	58
ALL - Ending Balance	201	141	$ 148
ALL ending balance individually evaluated for impairment	0	0
ALL ending balance collectively evaluated for impairment	201	141
Loans outstanding - Ending Balance	30,359	29,462
Loans ending balance individually evaluated for impairment	0	0
Loans ending balance collectively evaluated for impairment	$ 30,359	$ 29,462

Loans - Past due loans (Details

Loans - Past due loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 14,069	$ 8,449
Financing Receivable, Recorded Investment, Nonaccrual Status	10,796	5,093
Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivable, Recorded Investment, Nonaccrual Status	0	0
Construction and Development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	281	779
Financing Receivable, Recorded Investment, Nonaccrual Status	281	0
Commercial/Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	549	2,158
Financing Receivable, Recorded Investment, Nonaccrual Status	433	1,923
Commercial Real Estate - Owner Occupied
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	2,660	3,637
Financing Receivable, Recorded Investment, Nonaccrual Status	1,078	2,513
Commercial Real Estate - Non-Owner Occupied
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	8,087	75
Financing Receivable, Recorded Investment, Nonaccrual Status	8,087	75
Residential 1-4 Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	2,469	1,662
Financing Receivable, Recorded Investment, Nonaccrual Status	912	550
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	23	138
Financing Receivable, Recorded Investment, Nonaccrual Status	5	32
30-89 Days Past Due Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	1,535	3,002
30-89 Days Past Due Accruing | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
30-89 Days Past Due Accruing | Construction and Development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	768
30-89 Days Past Due Accruing | Commercial/Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	116	235
30-89 Days Past Due Accruing | Commercial Real Estate - Owner Occupied
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	1,124
30-89 Days Past Due Accruing | Commercial Real Estate - Non-Owner Occupied
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
30-89 Days Past Due Accruing | Residential 1-4 Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	1,415	805
30-89 Days Past Due Accruing | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	4	70
90 Days Past Due Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	1,738	354
90 Days Past Due Accruing | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
90 Days Past Due Accruing | Construction and Development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	11
90 Days Past Due Accruing | Commercial/Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
90 Days Past Due Accruing | Commercial Real Estate - Owner Occupied
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	1,582	0
90 Days Past Due Accruing | Commercial Real Estate - Non-Owner Occupied
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
90 Days Past Due Accruing | Residential 1-4 Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	142	307
90 Days Past Due Accruing | Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 14	$ 36

Loans- Breakdown of loans by ri

Loans- Breakdown of loans by risk rating (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable, Gross	$ 2,194,380	$ 1,736,846
Other
Loans and Leases Receivable, Gross	38,054	10,440
Construction and Development
Loans and Leases Receivable, Gross	140,042	132,296
Commercial/Industrial
Loans and Leases Receivable, Gross	447,344	302,538
Commercial Real Estate - Owner Occupied
Loans and Leases Receivable, Gross	549,619	459,782
Commercial Real Estate - Non-Owner Occupied
Loans and Leases Receivable, Gross	443,144	353,723
Residential 1-4 Family
Loans and Leases Receivable, Gross	545,818	448,605
Consumer
Loans and Leases Receivable, Gross	30,359	29,462
Pass (1-5)
Loans and Leases Receivable, Gross	2,144,249	1,676,560
Pass (1-5) | Other
Loans and Leases Receivable, Gross	38,054	10,440
Pass (1-5) | Construction and Development
Loans and Leases Receivable, Gross	139,693	132,266
Pass (1-5) | Commercial/Industrial
Loans and Leases Receivable, Gross	440,461	290,180
Pass (1-5) | Commercial Real Estate - Owner Occupied
Loans and Leases Receivable, Gross	520,075	422,336
Pass (1-5) | Commercial Real Estate - Non-Owner Occupied
Loans and Leases Receivable, Gross	432,444	344,278
Pass (1-5) | Residential 1-4 Family
Loans and Leases Receivable, Gross	543,163	447,630
Pass (1-5) | Consumer
Loans and Leases Receivable, Gross	30,359	29,430
Pass 6
Loans and Leases Receivable, Gross	8,800	19,962
Pass 6 | Other
Loans and Leases Receivable, Gross	0	0
Pass 6 | Construction and Development
Loans and Leases Receivable, Gross	21	0
Pass 6 | Commercial/Industrial
Loans and Leases Receivable, Gross	2,479	5,329
Pass 6 | Commercial Real Estate - Owner Occupied
Loans and Leases Receivable, Gross	5,844	5,603
Pass 6 | Commercial Real Estate - Non-Owner Occupied
Loans and Leases Receivable, Gross	0	8,774
Pass 6 | Residential 1-4 Family
Loans and Leases Receivable, Gross	456	256
Pass 6 | Consumer
Loans and Leases Receivable, Gross	0	0
Pass 7
Loans and Leases Receivable, Gross	41,331	40,324
Pass 7 | Other
Loans and Leases Receivable, Gross	0	0
Pass 7 | Construction and Development
Loans and Leases Receivable, Gross	328	30
Pass 7 | Commercial/Industrial
Loans and Leases Receivable, Gross	4,404	7,029
Pass 7 | Commercial Real Estate - Owner Occupied
Loans and Leases Receivable, Gross	23,700	31,843
Pass 7 | Commercial Real Estate - Non-Owner Occupied
Loans and Leases Receivable, Gross	10,700	671
Pass 7 | Residential 1-4 Family
Loans and Leases Receivable, Gross	2,199	719
Pass 7 | Consumer
Loans and Leases Receivable, Gross	0	32
Pass 8
Loans and Leases Receivable, Gross	0	0
Pass 8 | Other
Loans and Leases Receivable, Gross	0	0
Pass 8 | Construction and Development
Loans and Leases Receivable, Gross	0	0
Pass 8 | Commercial/Industrial
Loans and Leases Receivable, Gross	0	0
Pass 8 | Commercial Real Estate - Owner Occupied
Loans and Leases Receivable, Gross	0	0
Pass 8 | Commercial Real Estate - Non-Owner Occupied
Loans and Leases Receivable, Gross	0	0
Pass 8 | Residential 1-4 Family
Loans and Leases Receivable, Gross	0	0
Pass 8 | Consumer
Loans and Leases Receivable, Gross	$ 0	$ 0

Loans - Impaired loans of Recor

Loans - Impaired loans of Recorded investment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
With an allowance recorded:
Recorded investment	$ 8,162	$ 2,838
Unpaid principal balance	8,162	2,838
Related allowance	900	840
With no related allowance recorded:
Recorded investment	2,423	2,938
Unpaid principal balance	2,423	2,938
Related allowance	0
Total:
Recorded investment	10,585	5,776
Unpaid principal balance	10,585	5,776
Related allowance	900	840
Average recorded investment	8,181	9,971
Other
With an allowance recorded:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
With no related allowance recorded:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
Total:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
Average recorded investment	0	0
Construction and Development
With an allowance recorded:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
With no related allowance recorded:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
Total:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
Average recorded investment	0	0
Commercial/Industrial
With an allowance recorded:
Recorded investment	478	1,878
Unpaid principal balance	478	1,878
Related allowance	10	760
With no related allowance recorded:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
Total:
Recorded investment	478	1,878
Unpaid principal balance	478	1,878
Related allowance	10	760
Average recorded investment	1,178	3,773
Commercial Real Estate - Owner Occupied
With an allowance recorded:
Recorded investment	0	960
Unpaid principal balance	0	960
Related allowance	0	80
With no related allowance recorded:
Recorded investment	1,171	2,938
Unpaid principal balance	1,171	2,938
Related allowance	0	0
Total:
Recorded investment	1,171	3,898
Unpaid principal balance	1,171	3,898
Related allowance	0	80
Average recorded investment	2,535	5,847
Commercial Real Estate - Non-Owner Occupied
With an allowance recorded:
Recorded investment	7,684	0
Unpaid principal balance	7,684	0
Related allowance	890	0
With no related allowance recorded:
Recorded investment	992	0
Unpaid principal balance	992	0
Related allowance	0	0
Total:
Recorded investment	8,676	0
Unpaid principal balance	8,676	0
Related allowance	890	0
Average recorded investment	4,338	0
Residential 1-4 Family
With an allowance recorded:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
With no related allowance recorded:
Recorded investment	260	0
Unpaid principal balance	260	0
Related allowance	0	0
Total:
Recorded investment	260	0
Unpaid principal balance	260	0
Related allowance	0	0
Average recorded investment	130	351
Consumer
With an allowance recorded:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
With no related allowance recorded:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
Total:
Recorded investment	0	0
Unpaid principal balance	0	0
Related allowance	0	0
Average recorded investment	$ 0	$ 0

Loans - Credit Deterioration (D

Loans - Credit Deterioration (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Impaired Financing Receivable, Recorded Investment	$ 10,585	$ 5,776
Impaired Financing Receivable, Unpaid Principal Balance	10,585	5,776
Other
Impaired Financing Receivable, Recorded Investment	0	0
Impaired Financing Receivable, Unpaid Principal Balance	0	0
Construction and Development
Impaired Financing Receivable, Recorded Investment	0	0
Impaired Financing Receivable, Unpaid Principal Balance	0	0
Commercial/Industrial
Impaired Financing Receivable, Recorded Investment	478	1,878
Impaired Financing Receivable, Unpaid Principal Balance	478	1,878
Commercial Real Estate - Owner Occupied
Impaired Financing Receivable, Recorded Investment	1,171	3,898
Impaired Financing Receivable, Unpaid Principal Balance	1,171	3,898
Commercial Real Estate - Non-Owner Occupied
Impaired Financing Receivable, Recorded Investment	8,676	0
Impaired Financing Receivable, Unpaid Principal Balance	8,676	0
Residential 1-4 Family
Impaired Financing Receivable, Recorded Investment	260	0
Impaired Financing Receivable, Unpaid Principal Balance	260	0
Consumer
Impaired Financing Receivable, Recorded Investment	0	0
Impaired Financing Receivable, Unpaid Principal Balance	0	0
Financial Asset Acquired with Credit Deterioration [Member]
Impaired Financing Receivable, Recorded Investment	6,861	1,823
Impaired Financing Receivable, Unpaid Principal Balance	8,287	2,265
Financial Asset Acquired with Credit Deterioration [Member] | Other
Impaired Financing Receivable, Recorded Investment	0	0
Impaired Financing Receivable, Unpaid Principal Balance	0	0
Financial Asset Acquired with Credit Deterioration [Member] | Construction and Development
Impaired Financing Receivable, Recorded Investment	81	213
Impaired Financing Receivable, Unpaid Principal Balance	90	237
Financial Asset Acquired with Credit Deterioration [Member] | Commercial/Industrial
Impaired Financing Receivable, Recorded Investment	805	191
Impaired Financing Receivable, Unpaid Principal Balance	907	212
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate - Owner Occupied
Impaired Financing Receivable, Recorded Investment	3,860	518
Impaired Financing Receivable, Unpaid Principal Balance	4,718	785
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate - Non-Owner Occupied
Impaired Financing Receivable, Recorded Investment	1,245	0
Impaired Financing Receivable, Unpaid Principal Balance	1,410	0
Financial Asset Acquired with Credit Deterioration [Member] | Residential 1-4 Family
Impaired Financing Receivable, Recorded Investment	870	901
Impaired Financing Receivable, Unpaid Principal Balance	1,162	1,031
Financial Asset Acquired with Credit Deterioration [Member] | Consumer
Impaired Financing Receivable, Recorded Investment	0	0
Impaired Financing Receivable, Unpaid Principal Balance	$ 0	$ 0

Loans - Change in the accretabl

Loans - Change in the accretable and non accretable Components of Discounts on Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest income in accordance with original terms	$ 683	$ 651	$ 1,020
Interest income recognized	(519)	(129)	(416)
Reduction in interest income	164	522	604
Accretable Discount [Member]
Balance at beginning of year	222	318
Acquired balance, net	1,064	44
Reclassifications between accretable and non-accretable	771	858
Accretion to loan interest income	(807)	(998)
Disposals of loans	0	0
Balance at end of year	1,250	222	318
Non Accretable Discount [Member]
Balance at beginning of year	220	745
Acquired balance, net	727	333
Reclassifications between accretable and non-accretable	(771)	(858)
Accretion to loan interest income	0	0
Disposals of loans	0	0
Balance at end of year	$ 176	$ 220	$ 745

Loans - Schedule of troubled de

Loans - Schedule of troubled debt restructurings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)contract	Dec. 31, 2019USD ($)contract
Pre-Modification Outstanding Recorded Investment	$ 199	$ 546
Post-Modification Outstanding Recorded Investment	$ 199	$ 370
Commercial/Industrial
Number of Contracts | contract		1
Pre-Modification Outstanding Recorded Investment		$ 113
Post-Modification Outstanding Recorded Investment		$ 113
Commercial Real Estate
Number of Contracts | contract	1	1
Pre-Modification Outstanding Recorded Investment	$ 85	$ 61
Post-Modification Outstanding Recorded Investment	$ 85	$ 61
Residential 1-4 Family
Number of Contracts | contract	1	2
Pre-Modification Outstanding Recorded Investment	$ 114	$ 372
Post-Modification Outstanding Recorded Investment	$ 114	$ 196

Loans - Additional Information

Loans - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loans
Loans and Leases Receivable, Allowance	$ 17,658	$ 11,396	$ 12,248

Related Party Matters (Details)

Related Party Matters (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Matters
Balances at beginning	$ 68,554	$ 84,103
New loans and advances	54,723	27,886
Repayments	(56,181)	(43,435)
Balance at end	$ 67,096	$ 68,554

Related Party Matters - Additio

Related Party Matters - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Related Party Matters
Related Party Deposit Liabilities	$ 26,486,000	$ 25,527,000

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair value at beginning of period	$ 4,287,000	$ 3,085,000
MSR asset acquired	384,000	1,859,000
Servicing asset additions	1,375,000	740,000
Loan payments and payoffs	(1,533,000)	(821,000)
Changes in valuation inputs and assumptions used in the valuation model	(787,000)	(576,000)
Amount recognized through earnings	(945,000)	(657,000)
Fair value at end of period	3,726,000	4,287,000
Unpaid principal balance of loans serviced for others	10,585,000	5,776,000
Other
Unpaid principal balance of loans serviced for others	$ 0	$ 0
Mortgage servicing rights as a percent of loans serviced for others	0.61%	0.77%
Other | Mortgage Servicing Rights [Member]
Unpaid principal balance of loans serviced for others	$ 612,707,000	$ 554,374,000

Mortgage Servicing Rights - Add

Mortgage Servicing Rights - Additional Information (Details) - M	Dec. 31, 2020	Dec. 31, 2019
Measurement Input, Discount Rate [Member]
Mortgage Servicing Rights Discount Rate	10.28%	10.00%
Measurement Input, Prepayment Rate [Member]
Servicing Asset, Measurement Input	16.3	12.1

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment, Gross	$ 50,494,000	$ 41,698,000
Less accumulated depreciation	8,902,000	8,111,000
Right-of-use lease asset	1,591,000	1,699,000
Property, Plant and Equipment, Net, Total	43,183,000	35,286,000
Land and Land Improvements [Member]
Property, Plant and Equipment, Gross	4,895,000	4,584,000
Building and Building Improvements [Member]
Property, Plant and Equipment, Gross	39,773,000	31,754,000
Furniture and Fixtures [Member]
Property, Plant and Equipment, Gross	$ 5,826,000	$ 5,360,000

Premises and Equipment - Additi

Premises and Equipment - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Buildings and Improvements, Gross	$ 1,843,000	$ 6,169,000
Premises And Equipment [Member]
Depreciation, Depletion and Amortization	$ 1,508,000	$ 1,272,000	$ 1,116,000

Other Real Estate Owned (Detail

Other Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other Real Estate Owned
Other Real Estate, Beginning Balance	$ 6,888	$ 3,592
Transfers in	1,892	4,927
Depreciation	(28)	0
(Loss) gain on sale of OREO and valuation allowance	(1,395)	73
Sales	(5,472)	(1,704)
Other Real Estate, Ending Balance	$ 1,885	$ 6,888

Other Real Estate Owned - Addit

Other Real Estate Owned - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Real Estate Owned
Beginning of year	$ 2,121	$ 2,208	$ 2,078
Additions charged to expense	356	13	130
Valuation relieved due to sale of OREO	(2,365)	(100)	0
End of year	$ 112	$ 2,121	$ 2,208

Investment in Minority-owned _2

Investment in Minority-owned Subsidiaries (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets	$ 2,718,016,000	$ 2,210,168,000
Liabilities	2,423,159,000	1,979,957,000
Information Technology and Data Processing	5,515,000	4,509,000	$ 3,619,000
Long-term Debt	$ 23,338,000	39,800,000
UFSLLC [Member] | Investments In Minority owned Subsidiaries [Member]
Equity Method Investment, Ownership Percentage	49.80%
Assets	$ 26,353,000,000	25,489,000,000
Liabilities	3,133,000,000	3,660,000,000
Equity Method Investment, Aggregate Cost	11,695,000,000	10,732,000,000
Retained Earnings, Undistributed Earnings from Equity Method Investees	3,066,000,000	2,935,000,000	2,563,000,000
Information Technology and Data Processing	3,664,000,000	3,248,000,000	2,514,000,000
Deferred Tax Assets, Net	1,469,000,000	1,124,000,000
Proceeds from Dividends Received	2,103,000,000	2,108,000,000	1,505,000,000
Ansay Associates LLC [Member] | Board of Directors Chairman [Member]
Payments For officer fidelity bond and commercial insurance coverage	$ 261,000,000	$ 225,000,000	165,000,000
Ansay Associates LLC [Member] | Investments In Minority owned Subsidiaries [Member]
Equity Method Investment, Ownership Percentage	40.00%	40.00%
Assets	$ 77,177,000,000	$ 79,781,000,000
Liabilities	37,729,000,000	42,838,000,000
Equity Method Investment, Aggregate Cost	30,583,000,000	29,555,000,000
Retained Earnings, Undistributed Earnings from Equity Method Investees	2,740,000,000	1,792,000,000	2,114,000,000
Information Technology and Data Processing	1,712,000,000	1,329,000,000	$ 1,432,000,000
Deferred Tax Assets, Net	1,235,000,000	1,385,000,000
Long-term Debt	15,241,000,000	19,124,000,000
Line of Credit Facility, Remaining Borrowing Capacity	15,475,000,000
Deposit Assets	$ 12,924,000,000	$ 17,495,000,000

Identifiable Intangible Asset_2

Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Gross Carrying Amount	$ 12,756	$ 11,620
Intangible Accumulated Amortization	3,589	1,954
Core Deposits
Gross Carrying Amount	9,030	7,333
Intangible Accumulated Amortization	3,589	1,954
Mortgage servicing rights
Gross Carrying Amount	3,726	4,287
Intangible Accumulated Amortization	$ 0	$ 0

Identifiable Intangible Asset_3

Identifiable Intangible Assets - Projections of amortization expense (Details) - Core Deposits $ in Thousands	Dec. 31, 2020USD ($)
2021	$ 1,405
2022	1,174
2023	942
2024	711
2025	496
Thereafter	713
Total	$ 5,441

Identifiable Intangible Asset_4

Identifiable Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Identifiable Intangible Assets
Amortization of Intangible Assets	$ 1,636,000	$ 1,069,000	$ 756,000

Goodwill (Details)

Goodwill (Details) - USD ($)	Dec. 31, 2020	May 15, 2020	Dec. 31, 2019	Jul. 12, 2019
Goodwill	$ 55,472,000	$ 11,595,000	$ 43,456,000	$ 28,433,000
Timberwood [Member]
Goodwill	$ 12,015,000

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deposits
Noninterest-bearing demand deposits	$ 715,646	$ 476,465
Interest-bearing demand deposits	223,753	184,843
Savings deposits	1,033,253	792,997
Time deposits	329,154	373,430
Brokered certificates of deposit	19,157	15,576
Total deposits	$ 2,320,963	$ 1,843,311

Deposits - Maturities of time d

Deposits - Maturities of time deposits (Details) $ in Thousands	Dec. 31, 2020USD ($)
Deposits
2021	$ 241,832
2022	54,483
2023	29,921
2024	9,269
2025	4,248
Thereafter	8,558
Total	$ 348,311

Deposits - Additional Informati

Deposits - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deposits
Time Deposits 250000 or More	$ 55,182,000	$ 55,948,000

Securities Sold Under Repurch_3

Securities Sold Under Repurchase Agreements (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Outstanding balance at the end of the year	$ 36,377	$ 45,865
Securities Sold under Agreements to Repurchase [Member]
Outstanding balance at the end of the year	$ 36,377	$ 45,865	$ 31,489
Weighted average interest rate at the end of the year	0.04%	1.47%	2.43%
Average balance during the year	$ 34,984	$ 21,522	$ 22,315
Average interest rate during the year	0.32	2.14	1.79
Maximum month end balance during the year	$ 79,718	$ 45,865	$ 48,010

Notes Payable (Details)

Notes Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Long-term Debt	$ 23,338,000	$ 39,800,000
Maturity of Fixed Term one Member
Long-term Debt		1,000,000
Debt Instrument, Basis Spread on Variable Rate	1.42%
Maturity of Fixed Term Two Member
Long-term Debt		400,000
Debt Instrument, Basis Spread on Variable Rate	1.28%
Maturity of Fixed Term Three Member
Long-term Debt	$ 2,000,000	2,000,000
Debt Instrument, Basis Spread on Variable Rate	1.67%
Maturity of Fixed Term Four Member
Long-term Debt	$ 5,000,000	5,000,000
Debt Instrument, Basis Spread on Variable Rate	2.37%
Maturity of Fixed Term Five Member
Long-term Debt	$ 1,000,000	1,000,000
Debt Instrument, Basis Spread on Variable Rate	1.60%
Maturity of Fixed Term Six Member
Long-term Debt	$ 2,377,000
Debt Instrument, Basis Spread on Variable Rate	0.00%
Maturity of Fixed Term Seven Member
Long-term Debt	$ 500,000
Debt Instrument, Basis Spread on Variable Rate	2.87%
Maturity of Fixed Term Eight Member
Long-term Debt	$ 4,000,000
Debt Instrument, Basis Spread on Variable Rate	0.00%
Maturity of Fixed Term Nine Member
Long-term Debt	$ 4,000,000
Debt Instrument, Basis Spread on Variable Rate	0.00%
Maturity Of Fixed Term Ten Member
Long-term Debt	$ 250,000
Debt Instrument, Basis Spread on Variable Rate	2.00%
Maturity Of Fixed Term Eleven Member
Long-term Debt	$ 400,000	400,000
Debt Instrument, Basis Spread on Variable Rate	1.46%
Maturity Of Fixed Term Twelve Member
Long-term Debt	$ 500,000
Debt Instrument, Basis Spread on Variable Rate	2.87%
Maturity Of Fixed Term Thirteen [Member]
Long-term Debt	$ 250,000
Debt Instrument, Basis Spread on Variable Rate	1.99%
Maturity Of Fixed Term Fourteen [Member]
Long-term Debt	$ 250,000
Debt Instrument, Basis Spread on Variable Rate	2.51%
Maturity Of Fixed Term Fifteen [Member]
Long-term Debt	$ 500,000
Debt Instrument, Basis Spread on Variable Rate	2.98%
Maturity Of Fixed Term Sixteen [Member]
Long-term Debt	$ 500,000
Debt Instrument, Basis Spread on Variable Rate	2.92%
Maturity Of Fixed Term Seventeen [Member]
Long-term Debt		10,000,000
Debt Instrument, Basis Spread on Variable Rate	1.76%
Maturity Of Fixed Term Eighteen [Member]
Long-term Debt	$ 600,000
Debt Instrument, Basis Spread on Variable Rate	3.02%
Maturity Of Fixed Term Nineteen [Member]
Long-term Debt		10,000,000
Debt Instrument, Basis Spread on Variable Rate	1.74%
Maturity Of Fixed Term Twenty [Member]
Long-term Debt	$ 600,000
Debt Instrument, Basis Spread on Variable Rate	3.06%
Maturity Of Fixed Term Twenty One [Member]
Long-term Debt		$ 10,000,000
Debt Instrument, Basis Spread on Variable Rate	1.75%
Maturity Of Fixed Term Twenty Two [Member]
Long-term Debt	$ 103,000
Debt Instrument, Basis Spread on Variable Rate	0.00%
Maturity Of Fixed Term Twenty Three [Member]
Long-term Debt	$ 508,000
Debt Instrument, Basis Spread on Variable Rate	0.00%

Notes Payable - Future maturiti

Notes Payable - Future maturities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Notes Payable.
1 year or less	$ 20,277,000	$ 1,400,000
1 to 2 years	1,850,000	8,400,000
2 to 3 years	600,000	10,000,000
3 to 4 years		10,000,000
4 to 5 years		10,000,000
Over 5 years	611,000
Long-term Debt, Total	$ 23,338,000	$ 39,800,000

Notes Payable - Additional Info

Notes Payable - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months	$ 20,277,000	$ 1,400,000
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available	825,300,000	815,200,000
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged	374,100,000	373,100,000
Federal Home Loan Bank Stock	3,353,000	2,230,000
Federal Home Loan Bank Advances	800,000	14,400,000
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds	350,000,000	318,900,000
Commercial Bank One [Member]
Long-term Line of Credit		5,000,000
Line of Credit Facility, Maximum Borrowing Capacity	5,000,000
Commercial Bank Two [Member]
Long-term Line of Credit		$ 5,000,000
Line of Credit Facility, Maximum Borrowing Capacity	5,000,000
Commercial Bank Three Member
Long-term Line of Credit	0
Line of Credit Facility, Maximum Borrowing Capacity	$ 7,500,000

Subordinated Debt (Details)

Subordinated Debt (Details) - USD ($)	Jul. 22, 2020	Dec. 31, 2020	Dec. 31, 2019
Subordinated Borrowing [Line Items]
Subordinated Debt		$ 17,500,000	$ 18,622,000
Subordinated Debt [Member]
Subordinated Borrowing [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 6,000,000	$ 22,500,000
Subordinated Debt			$ 11,500,000
Debt Instrument, Term	10 years	10 years
Long-term Debt, Gross		$ 7,000,000
Liabilities, Fair Value Adjustment	$ 12,000,000	$ 195,000
Debt Instrument, Interest Rate During Period	5.00%	7.10%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current tax expense:
Federal									$ 8,181	$ 4,327	$ 3,349
State									3,766	2,412	2,100
Total current									11,947	6,739	5,449
Deferred tax expenses (benefit):
Federal									(82)	620	815
State									(34)	236	333
Total deferred									(116)	856	1,148
Total provision for income taxes	$ 4,063	$ 3,534	$ 2,676	$ 1,558	$ 2,225	$ 1,712	$ 1,666	$ 1,992	$ 11,831	$ 7,595	$ 6,597

Income Taxes - Federal statutor

Income Taxes - Federal statutory rate and the provision for income taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Tax expense at statutory rate									$ 10,474	$ 7,201	$ 6,731
Increase (decrease) in taxes resulting from:
Tax-exempt interest									(1,369)	(1,320)	(1,105)
State taxes (net of Federal benefit)									2,987	1,923	1,674
Cash surrender value of life insurance									(156)	(131)	(128)
ESOP dividend									(78)	(93)	(81)
Tax credits									0	(39)	(91)
Nondeductible expenses associated with acquisition									71	0	0
Other									(98)	54	(403)
Total provision for income taxes	$ 4,063	$ 3,534	$ 2,676	$ 1,558	$ 2,225	$ 1,712	$ 1,666	$ 1,992	$ 11,831	$ 7,595	$ 6,597

Income Taxes - Deferred tax (De

Income Taxes - Deferred tax (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Deferred compensation	$ 95	$ 1,036
Premises and equipment	59	398
Allowance for loan losses	35	35
Accrued vacation and severance	4,810	3,104
Other real estate owned	68	360
Other	464	244
Total deferred tax assets	5,531	5,177
Deferred tax liabilities:
Investment in acquisition and discount accretion	(122)	(148)
Mortgage servicing rights	(1,006)	(1,168)
Other investments	(309)	(248)
Prepaid expenses	(71)	(63)
Investment in minority owned subsidiaries	(2,704)	(2,509)
Goodwill and other intangibles	(963)	(1,000)
Purchase accounting	(538)	(339)
Unrealized gain on securities available for sale	(2,129)	(743)
Total deferred tax liabilities	(7,842)	(6,218)
Net deferred tax liability	$ (2,311)	$ (1,041)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020
Income Taxes
Income Tax Examination, Likelihood of Unfavorable Settlement	For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. When applicable, interest and penalties on uncertain tax positions are calculated based on the guidance from the relevant tax authority and included in income tax expense.

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock, Shares Outstanding at beginning of year	50,676	51,776
Restricted Stock, Shares Granted	27,466	17,015
Restricted Stock, Shares Vested	(18,623)	(17,212)
Restricted Stock, Shares Forfeited or cancelled	(2,344)	(903)
Restricted Stock, Shares Outstanding at end of year	57,175	50,676
Weighted-Average Grant-Date Fair Value, Outstanding at beginning of year	$ 43.03	$ 34.27
Weighted-Average Grant-Date Fair Value, Granted	60.76	56.62
Weighted-Average Grant-Date Fair Value, Vested	37.28	30.54
Weighted-Average Grant-Date Fair Value, Forfeited or cancelled	51.27	41.01
Weighted-Average Grant-Date Fair Value, Outstanding at end of year	$ 53.08	$ 43.03

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee Stock Ownership Plan (ESOP), Plan Description	The Corporation has a defined contribution profit sharing 401(k) plan which includes the provisions for an employee stock ownership plan (“ESOP”). The plan is available to all employees over 18 years of age after completion of three months of service. Employees participating in the plan may elect to defer a minimum of 2% of compensation up to the limits specified by law.
Employee Stock Ownership Plan (ESOP), Shares in ESOP	361,787	432,795
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	35.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	10.00%	10.00%	10.00%
Defined Contribution Plan Employer Additional Discretionary Contribution Amount	$ 733,000	$ 505,000	$ 656,000
Employee Stock Ownership Plan (ESOP), Compensation Expense	$ 1,272,000	957,000	1,061,000
2020 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	700,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	399
Employee Benefits and Share-based Compensation	$ 1,081,000	685,000	556,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 2,015,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 7 months 2 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 694,000
Salary Continuation Plan [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability	$ 348,000	437,000
Deferred Compensation Arrangement with Individual, Compensation Expense	$ 19,000	$ 23,000	$ 28,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	4.95%	4.95%
Deferrred Compensation Plan Estimated Annual Cash Benefit Payment	$ 108,011
Deferred Compensation Arrangement with Individual, Requisite Service Period	15 years
Nonqualified Deferred Compensation Plan [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability		$ 3,368,000

Stockholders' Equity and Regu_3

Stockholders' Equity and Regulatory Matters (Details) $ in Thousands	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Total capital (to risk-weighted assets):
Capital	$ 263,129	$ 215,347
Capital to Risk Weighted Assets	11.73	10.69
Capital Required for Capital Adequacy	$ 179,420	$ 161,163
Capital Required for Capital Adequacy to Risk Weighted Assets	8	8
Excess Capital	$ 235,489	$ 211,527
Excess Capital to Risk Weighted Assets	10.50	10.50
Capital Required to be Well Capitalized	$ 224,275	$ 201,454
Capital Required to be Well Capitalized to Risk Weighted Assets	10	10
Tier One Risk Based Capital [Abstract]
Tier One Risk Based Capital	$ 245,471	$ 203,951
Tier One Risk Based Capital to Risk Weighted Assets	10.95	10.12
Tier One Risk Based Capital Required for Capital Adequacy	$ 134,565	$ 120,872
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets	6	6
Excess Tier One Risk Based Capital	$ 190,634	$ 171,236
Excess Tier One Risk Based Capital to Risk Weighted Assets	8.50	8.50
Tier One Risk Based Capital Required to be Well Capitalized	$ 179,420	$ 161,163
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	8	8
Common Equity Tier One Capital [Abstract]
Common Equity Tier One Capital	$ 245,471	$ 203,951
Common Equity Tier One Capital Ratio	10.95	10.12
Common Equity Tier One Capital Required for Capital Adequacy	$ 100,924	$ 90,654
Common Equity Tier One Capital Required for Capital Adequacy To Risk Weighted Assets	4.50%	4.50%
Excess Common Equity Tier One Capital	$ 156,993	$ 141,018
Excess Common Equity Tier One Capital to Risk Weighted Assets	7.00%	7.00%
Common Equity Tier One Capital Required to be Well-Capitalized	$ 145,779	$ 130,945
Common Equity Tier One Capital Required To Be Well Capitalized To Risk Weighted Assets	6.50%	6.50%
Tier One Leverage Capital [Abstract]
Tier One Leverage Capital	$ 245,471	$ 203,951
Tier One Leverage Capital to Average Assets	9.46	9.67
Tier One Leverage Capital Required for Capital Adequacy	$ 103,814	$ 84,390
Tier One Leverage Capital Required for Capital Adequacy to Average Assets	4	4
Tier One Leverage Capital Required for Minimum Capital Adequacy with Capital Buffer	$ 129,768	$ 105,487
Tier One Leverage Capital Required for Minimum Capital Adequacy with Capital Buffer to Average Assests	5	5
Corporation [Member]
Total capital (to risk-weighted assets):
Capital	$ 263,344	$ 208,900
Capital to Risk Weighted Assets	11.74	10.35
Tier One Risk Based Capital [Abstract]
Tier One Risk Based Capital	$ 228,186	$ 178,882
Tier One Risk Based Capital to Risk Weighted Assets	10.17	8.86
Common Equity Tier One Capital [Abstract]
Common Equity Tier One Capital	$ 228,186	$ 178,882
Common Equity Tier One Capital Ratio	10.17	8.86
Tier One Leverage Capital [Abstract]
Tier One Leverage Capital	$ 228,186	$ 178,882
Tier One Leverage Capital to Average Assets	8.74	8.46

Stockholders' Equity and Regu_4

Stockholders' Equity and Regulatory Matters - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
Stockholders' Equity and Regulatory Matters
Dividends	$ 56,200,000

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies
Fixed	$ 72,298	$ 49,741
Variable	388,738	333,468
Credit card arrangements	10,867	11,148
Letters of credit	$ 7,567	$ 17,121

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Letters of credit	$ 7,567,000	$ 17,121,000
Standby Letters of Credit [Member]
Letters of credit	6,671,000
Letter of Credit [Member]
Letters of credit	897,000
Interest Rate Lock Commitments [Member]
Derivative, Notional Amount, Total	$ 69,600,000,000	$ 14,793,000

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases
Amortization of ROU Assets - Operating Leases	$ 108	$ 45
Interest on Lease Liabilities - Operating Leases	26	87
Operating Lease Cost (Cost resulting from lease payments)	$ 133	132
New ROU Assets - Operating Leases		$ 1,744
Weighted Average Lease Term (Years) - Operating Leases	32 years 9 months	31 years 6 months 21 days
Weighted Average Discount Rate - Operating Leases	5.50%	5.50%

Leases - Operating Lease (Detai

Leases - Operating Lease (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating lease payments due:
Within one year	$ 98	$ 133
After one but within two years	86	140
After two but within three years	86	113
After three but within four years	85	86
After four years but within five years	85	86
After five years	3,325	3,411
Total undiscounted cash flows	3,765	3,969
Discount on cash flows	(2,174)	(2,270)
Total operating lease liabilities	$ 1,591	$ 1,699
Total operating lease liabilities	us-gaap:OperatingLeaseLiability	us-gaap:OperatingLeaseLiability

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Leases
ROU lease assets, Operating Leases	$ 1,591,000	$ 1,699,000
Operating Lease, Liability	us-gaap:OperatingLeaseLiability	us-gaap:OperatingLeaseLiability

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Securities available for sale
Mortgage servicing rights	$ 3,726	$ 4,287	$ 3,085
Corporate notes
Securities available for sale
Investments, Fair Value Disclosure	27,743	62,955
Certificates of deposit
Securities available for sale
Investments, Fair Value Disclosure	2,101
Obligations of U.S. Government sponsored agencies
Securities available for sale
Investments, Fair Value Disclosure	18,779	12,060
Obligations of states and political subdivisions [Member]
Securities available for sale
Investments, Fair Value Disclosure	72,217	54,771
Mortgage-backed securities [Member]
Securities available for sale
Investments, Fair Value Disclosure	44,199	51,720
Quoted Prices In Active Markets for Identical Assets (Level 1)
Securities available for sale
Mortgage servicing rights	0	0
Quoted Prices In Active Markets for Identical Assets (Level 1) | Corporate notes
Securities available for sale
Investments, Fair Value Disclosure	0	0
Quoted Prices In Active Markets for Identical Assets (Level 1) | Certificates of deposit
Securities available for sale
Investments, Fair Value Disclosure	0
Quoted Prices In Active Markets for Identical Assets (Level 1) | Obligations of U.S. Government sponsored agencies
Securities available for sale
Investments, Fair Value Disclosure	0	0
Quoted Prices In Active Markets for Identical Assets (Level 1) | Obligations of states and political subdivisions [Member]
Securities available for sale
Investments, Fair Value Disclosure	0	0
Quoted Prices In Active Markets for Identical Assets (Level 1) | Mortgage-backed securities [Member]
Securities available for sale
Investments, Fair Value Disclosure	0	0
Significant Other Other Inputs (Level 2)
Securities available for sale
Mortgage servicing rights	3,726	4,287
Significant Other Other Inputs (Level 2) | Corporate notes
Securities available for sale
Investments, Fair Value Disclosure	27,743	62,955
Significant Other Other Inputs (Level 2) | Certificates of deposit
Securities available for sale
Investments, Fair Value Disclosure	2,101
Significant Other Other Inputs (Level 2) | Obligations of U.S. Government sponsored agencies
Securities available for sale
Investments, Fair Value Disclosure	18,779	12,060
Significant Other Other Inputs (Level 2) | Obligations of states and political subdivisions [Member]
Securities available for sale
Investments, Fair Value Disclosure	72,217	54,771
Significant Other Other Inputs (Level 2) | Mortgage-backed securities [Member]
Securities available for sale
Investments, Fair Value Disclosure	44,199	51,720
Significant Unobservable Inputs (Level 3)
Securities available for sale
Mortgage servicing rights	0	0
Significant Unobservable Inputs (Level 3) | Corporate notes
Securities available for sale
Investments, Fair Value Disclosure	0	0
Significant Unobservable Inputs (Level 3) | Certificates of deposit
Securities available for sale
Investments, Fair Value Disclosure	0
Significant Unobservable Inputs (Level 3) | Obligations of U.S. Government sponsored agencies
Securities available for sale
Investments, Fair Value Disclosure	0	0
Significant Unobservable Inputs (Level 3) | Obligations of states and political subdivisions [Member]
Securities available for sale
Investments, Fair Value Disclosure	0	0
Significant Unobservable Inputs (Level 3) | Mortgage-backed securities [Member]
Securities available for sale
Investments, Fair Value Disclosure	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Fair value of assets measured on a recurring basis (Details) - Obligations of states and political subdivisions [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total securities at beginning of year	$ 0	$ 400
Included in earnings	0	0
Included in other comprehensive income	0	0
Purchases, issuance, and settlements	0	(400)
Transfer in and/or out of level 3	0	0
Total securities at end of year	$ 0	$ 0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Fair value of assets measured on a non-recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OREO	$ 1,885	$ 6,888	$ 3,592
Fair Value, Measurements, Nonrecurring [Member]
OREO	1,885	6,888
Impaired Loans, net of impairment reserve	16,784	6,847
Assets, Fair Value Disclosure	18,669	13,735
Quoted Prices In Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Nonrecurring [Member]
OREO	0	0
Impaired Loans, net of impairment reserve	0	0
Assets, Fair Value Disclosure	0	0
Significant Other Other Inputs (Level 2) | Fair Value, Measurements, Nonrecurring [Member]
OREO	0	0
Impaired Loans, net of impairment reserve	0	0
Assets, Fair Value Disclosure	$ 0	$ 0

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Fair value measurement on inputs and valuation techniques (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Third party appraisals, sales contracts or brokered price options
Other real estate owned	Collateral discounts and estimated costs to sell	Collateral discounts and estimated costs to sell
Third party appraisals, sales contracts or brokered price options | Maximum [Member] | Measurement Input, Discount Rate [Member]
Other real estate owned	100	61
Third party appraisals, sales contracts or brokered price options | Minimum [Member] | Measurement Input, Discount Rate [Member]
Other real estate owned	23	0
Third party appraisals, sales contracts or brokered price options | Weighted Average [Member] | Measurement Input, Discount Rate [Member]
Other real estate owned	40.2	33.5
Third party appraisals and discounted cash flows
Impaired Loans, Unobservable Inputs	Collateral discounts and discount rates	Collateral discounts and discount rates
Third party appraisals and discounted cash flows | Maximum [Member] | Measurement Input, Discount Rate [Member]
Loans Held-for-sale, Measurement Input	100	100
Third party appraisals and discounted cash flows | Minimum [Member] | Measurement Input, Discount Rate [Member]
Loans Held-for-sale, Measurement Input	0	0
Third party appraisals and discounted cash flows | Weighted Average [Member] | Measurement Input, Discount Rate [Member]
Loans Held-for-sale, Measurement Input	7.8	6.1

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Carrying value and estimated fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial assets:
Securities held to maturity	$ 6,688	$ 44,803
Securities available for sale	165,039	181,506
Mortgage servicing rights	3,726	4,287	$ 3,085
Quoted Prices In Active Markets for Identical Assets (Level 1)
Financial assets:
Mortgage servicing rights	0	0
Significant Other Other Inputs (Level 2)
Financial assets:
Mortgage servicing rights	3,726	4,287
Significant Unobservable Inputs (Level 3)
Financial assets:
Mortgage servicing rights	0	0
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	170,219	86,452
Securities held to maturity	6,669	43,734
Securities available for sale	165,039	181,506
Loans held for sale	809	587
Loans, net	2,173,802	1,724,947
Other investments, at cost	8,896	4,933
Mortgage servicing rights	3,726	4,287
Cash surrender value of life insurance	31,394	24,945
Financial liabilities:
Deposits	2,320,963	1,843,311
Securities sold under repurchase agreements	36,377	45,865
Notes Payable	23,469	49,790
Subordinated notes	17,500	18,622
Carrying Amount [Member] | Quoted Prices In Active Markets for Identical Assets (Level 1)
Financial assets:
Cash and cash equivalents	170,219	86,452
Securities held to maturity	0
Securities available for sale	0
Loans held for sale	0
Loans, net	0
Other investments, at cost	0
Mortgage servicing rights	0
Cash surrender value of life insurance	31,394	24,945
Financial liabilities:
Deposits	0
Securities sold under repurchase agreements	0
Notes Payable	0
Subordinated notes	0
Carrying Amount [Member] | Significant Other Other Inputs (Level 2)
Financial assets:
Cash and cash equivalents	0
Securities held to maturity	6,688	44,803
Securities available for sale	165,039	181,506
Loans held for sale	0
Loans, net	0
Other investments, at cost	0
Mortgage servicing rights	3,726	4,287
Cash surrender value of life insurance	0
Financial liabilities:
Deposits	0
Securities sold under repurchase agreements	36,377	45,865
Notes Payable	23,469	49,790
Subordinated notes	17,500	18,622
Carrying Amount [Member] | Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents	0
Securities held to maturity	0
Securities available for sale	0
Loans held for sale	809	587
Loans, net	2,168,865	1,723,542
Other investments, at cost	8,896	4,933
Mortgage servicing rights	0
Cash surrender value of life insurance	0
Financial liabilities:
Deposits	2,309,489	1,783,638
Securities sold under repurchase agreements	0
Notes Payable	0
Subordinated notes	0
Estimated Fair Value [Member]
Financial assets:
Cash and cash equivalents	170,219	86,452
Securities held to maturity	6,688	44,803
Securities available for sale	165,039	181,506
Loans held for sale	809	587
Loans, net	2,168,865	1,723,542
Other investments, at cost	8,896	4,933
Mortgage servicing rights	3,726	4,287
Cash surrender value of life insurance	31,394
Financial liabilities:
Deposits	2,309,489	1,783,638
Securities sold under repurchase agreements	36,377	45,865
Notes Payable	23,469
Subordinated notes	$ 17,500	$ 18,622

Parent Company Only Financial_3

Parent Company Only Financial Statements - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 170,219	$ 86,452	$ 107,743	$ 101,977
Other assets	9,176	7,481
TOTAL ASSETS	2,718,016	2,210,168
Liabilities
Notes payable	23,469	49,790
Subordinated notes	17,500	18,622
Other liabilities	24,850	22,369
Total liabilities	2,423,159	1,979,957
Stockholders' equity:
Common stock	85	79
Additional paid-in capital	92,847	63,085
Retained earnings	221,393	189,494
Treasury stock, at cost	(25,227)	(24,941)
Accumulated other comprehensive income	5,759	2,494
Total stockholders' equity	294,857	230,211	174,323	161,728
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,718,016	2,210,168
Parent Company [Member]
Assets
Cash and cash equivalents	1,584	63	$ 72	$ 360
Investment in Bank	312,142	254,299
Investment in Veritas	39	4,852
Other assets	8	557
TOTAL ASSETS	313,773	259,771
Liabilities
Notes payable	0	10,000
Subordinated notes	17,500	18,500
Other liabilities	1,416	1,060
Total liabilities	18,916	29,560
Stockholders' equity:
Common stock	85	79
Additional paid-in capital	92,847	63,085
Retained earnings	221,393	189,494
Treasury stock, at cost	(25,227)	(24,941)
Accumulated other comprehensive income	5,759	2,494
Total stockholders' equity	294,857	230,211
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 313,773	$ 259,771

Parent Company Only Financial_4

Parent Company Only Financial Statements - Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income:
Total interest income	$ 27,094	$ 25,928	$ 24,382	$ 23,296	$ 23,795	$ 25,489	$ 20,158	$ 19,723	$ 100,700	$ 89,165	$ 77,944
Other expenses									5,708	6,026	5,029
Benefit for income taxes	4,063	3,534	2,676	1,558	2,225	1,712	1,666	1,992	11,831	7,595	6,597
Net Income	$ 11,530	$ 10,954	$ 8,296	$ 7,266	$ 7,459	$ 6,659	$ 5,989	$ 6,587	38,046	26,694	25,456
Parent Company [Member]
Income:
Dividends received from Bank									21,406	16,335	22,275
Equity in undistributed earnings of subsidiaries									18,104	11,361	4,029
Other income									(7)	234	74
Total interest income									39,503	27,930	26,378
Other expenses									2,005	1,611	1,404
Benefit for income taxes									(548)	(375)	(482)
Net Income									$ 38,046	$ 26,694	$ 25,456

Parent Company Only Financial_5

Parent Company Only Financial Statements - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flow from operating activities:
Net income	$ 38,046	$ 26,694	$ 25,456
Adjustments to reconcile net income to net cash provided by operating activities:
Stock compensation	1,081	685	556
Changes in other assets and liabilities:
Other assets	(1,876)	(720)	306
Other liabilities	6,440	1,268	1,220
Net cash provided by (used in) operating activities	43,963	22,648	23,052
Cash flows from investing activities, net of effects of business combination:
Net cash used in business combination	35,296	(9,771)	0
Net cash provided by investing activities	(206,028)	(106,153)	(30,098)
Cash flows from financing activities, net of effects of business combination:
Repayment of notes payable	(127,400)	(4,000)	(1,222,700)
Proceeds from notes payable	88,000	44,000	1,214,200
Repayment of subordinate notes	(7,000)	0	0
Issuance of common stock	19	0	1,347
Repurchase of common stock	(4,367)	(4,205)	(10,449)
Net cash (used in) provided by financing activities	245,832	62,214	12,812
Net increase (decrease) in cash and cash equivalents	83,767	(21,291)	5,766
Cash and cash equivalents at beginning of year	86,452	107,743	101,977
Cash and cash equivalents at end of year	170,219	86,452	107,743
Supplemental schedule of noncash activities:
Amortization of unrealized holding gains on securities transferred from available for sale to held to maturity recognized in other comprehensive income, net of tax	(81)	(35)	(60)
Change in unrealized gains and losses on investment securities available for sale, net of tax	3,346	2,895	(1,367)
Parent Company [Member]
Cash flow from operating activities:
Net income	38,046	26,694	25,456
Adjustments to reconcile net income to net cash provided by operating activities:
Stock compensation	1,081	685	556
Equity in earnings of subsidiaries (includes dividends)	(39,410)	(27,696)	(26,304)
Changes in other assets and liabilities:
Other assets	606	(329)	(49)
Other liabilities	478	(33)	(90)
Net cash provided by (used in) operating activities	801	(679)	(431)
Cash flows from investing activities, net of effects of business combination:
Sale of other investments	0	750	0
Dividends received from Bank	21,406	16,335	22,275
Dividends received from Veritas	2,121	0	0
Net cash used in business combination	(4,474)	(14,241)	0
Contribution to subsidiaries	(65)	(2,620)	0
Net cash provided by investing activities	18,988	224	22,275
Cash flows from financing activities, net of effects of business combination:
Repayment of notes payable	(10,000)	0	(8,500)
Proceeds from notes payable	0	10,000	0
Repayment of subordinate notes	(7,122)
Proceeds from subordinated notes	6,000	0	0
Cash dividends paid	(6,147)	(5,463)	(4,530)
Issuance of common stock	3,368	114	1,347
Repurchase of common stock	(4,367)	(4,205)	(10,449)
Net cash (used in) provided by financing activities	(18,268)	446	(22,132)
Net increase (decrease) in cash and cash equivalents	1,521	(9)	(288)
Cash and cash equivalents at beginning of year	63	72	360
Cash and cash equivalents at end of year	1,584	63	72
Supplemental schedule of noncash activities:
Amortization of unrealized holding gains on securities transferred from available for sale to held to maturity recognized in other comprehensive income, net of tax	(81)	(35)	(60)
Change in unrealized gains and losses on investment securities available for sale, net of tax	$ 3,756	$ 2,958	$ (1,367)

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic
Net income available to common shareholders	$ 11,530	$ 10,954	$ 8,296	$ 7,266	$ 7,459	$ 6,659	$ 5,989	$ 6,587	$ 38,046	$ 26,694	$ 25,456
Less: Earnings allocated to participating securities									(287)	(200)
Net income allocated to common shareholders									$ 37,759	$ 26,494	$ 25,456
Weighted average common shares outstanding including participating securities									7,497,862	6,820,225	6,673,758
Less: Participating securities (1)									(56,606)	(51,226)
Average shares									7,441,256	6,768,999	6,673,758
Basic earnings per common shares	$ 1.49	$ 1.42	$ 1.11	$ 1.03	$ 1.05	$ 0.95	$ 0.91	$ 1	$ 5.07	$ 3.91	$ 3.81
Diluted
Net income available to common shareholders	$ 11,530	$ 10,954	$ 8,296	$ 7,266	$ 7,459	$ 6,659	$ 5,989	$ 6,587	$ 38,046	$ 26,694	$ 25,456
Weighted average common shares outstanding for basic earnings per common share									7,441,256	6,768,999	6,673,758
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Preferred Stock									39,821	82,391	0
Add: Dilutive effects of stock based compensation awards									39,821	110,385
Average shares and dilutive potential common shares									7,481,077	6,879,384	6,673,758
Diluted earnings per common share	$ 1.49	$ 1.42	$ 1.11	$ 1.02	$ 1.04	$ 0.93	$ 0.90	$ 1	$ 5.07	$ 3.87	$ 3.81

Quarterly Results of Operatio_3

Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Results of Operations
Interest income	$ 27,094	$ 25,928	$ 24,382	$ 23,296	$ 23,795	$ 25,489	$ 20,158	$ 19,723	$ 100,700	$ 89,165	$ 77,944
Interest expense	2,623	3,003	3,586	4,653	5,015	5,176	4,784	4,523	13,865	19,498	14,845
Net interest and dividend income	24,471	22,925	20,796	18,643	18,780	20,313	15,374	15,200	86,835	69,667	63,099
Provision for loan losses	1,650	1,350	3,150	975	1,125	3,000	500	625	7,125	5,250	2,935
Net interest and dividend income after provision for loan losses	22,821	21,575	17,646	17,668	17,655	17,313	14,874	14,575	79,710	64,417	60,164
Noninterest Income	6,744	5,115	7,764	3,897	3,211	3,145	2,736	3,540	23,520	12,632	11,500
Noninterest Expense	13,972	12,202	14,438	12,741	11,182	12,087	9,955	9,536	53,353	42,760	39,611
Income before provision for income taxes	15,593	14,488	10,972	8,824	9,684	8,371	7,655	8,579	49,877	34,289	32,053
Provision for income taxes	4,063	3,534	2,676	1,558	2,225	1,712	1,666	1,992	11,831	7,595	6,597
Net Income	$ 11,530	$ 10,954	$ 8,296	$ 7,266	$ 7,459	$ 6,659	$ 5,989	$ 6,587	$ 38,046	$ 26,694	$ 25,456
Share data
Average shares outstanding, basic	7,659,904	7,673,572	7,395,199	7,028,690	7,084,728	7,036,807	6,577,016	6,574,362
Average shares outstanding, diluted	7,682,101	7,691,326	7,405,995	7,128,246	7,182,854	7,134,674	6,675,794	6,608,273
Earnings per share, basic	$ 1.49	$ 1.42	$ 1.11	$ 1.03	$ 1.05	$ 0.95	$ 0.91	$ 1	$ 5.07	$ 3.91	$ 3.81
Earnings per share, diluted	$ 1.49	$ 1.42	$ 1.11	$ 1.02	$ 1.04	$ 0.93	$ 0.90	$ 1	$ 5.07	$ 3.87	$ 3.81