Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 29, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000311094 | |
Entity Registrant Name | WESTAMERICA BANCORPORATION | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-09383 | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 94-2156203 | |
Entity Address, Address Line One | 1108 Fifth Avenue | |
Entity Address, City or Town | San Rafael | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94901 | |
City Area Code | 707 | |
Local Phone Number | 863-6000 | |
Title of 12(b) Security | Common Stock, no par value | |
Trading Symbol | WABC | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 26,868,988 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets: | ||
Cash and due from banks | $ 398,964 | $ 373,421 |
Debt securities available for sale | 3,983,994 | 3,078,846 |
Debt securities held to maturity, net of allowance for credit losses of $16 at September 30, 2020 and $ - at December 31, 2019 (Fair value of $593,701 at September 30, 2020 and $744,296 at December 31, 2019) | 577,795 | 738,072 |
Loans | 1,310,009 | 1,126,664 |
Allowance for credit losses on loans | (24,142) | (19,484) |
Loans, net of allowance for credit losses on loans | 1,285,867 | 1,107,180 |
Other real estate owned | 43 | 43 |
Premises and equipment, net | 33,437 | 34,597 |
Identifiable intangibles, net | 1,173 | 1,391 |
Goodwill | 121,673 | 121,673 |
Other assets | 160,269 | 164,332 |
Total Assets | 6,563,215 | 5,619,555 |
Liabilities: | ||
Noninterest-bearing deposits | 2,684,028 | 2,240,112 |
Interest-bearing deposits | 2,855,162 | 2,572,509 |
Total deposits | 5,539,190 | 4,812,621 |
Short-term borrowed funds | 107,973 | 30,928 |
Other liabilities | 90,476 | 44,589 |
Total Liabilities | 5,737,639 | 4,888,138 |
Contingencies (Note 10) | ||
Shareholders' Equity: | ||
Common stock (no par value), authorized - 150,000 shares Issued and outstanding: 26,898 at September 30, 2020 and 27,062 at December 31, 2019 | 467,201 | 465,460 |
Deferred compensation | 35 | 771 |
Accumulated other comprehensive income | 103,623 | 26,051 |
Retained earnings | 254,717 | 239,135 |
Total Shareholders' Equity | 825,576 | 731,417 |
Total Liabilities and Shareholders' Equity | $ 6,563,215 | $ 5,619,555 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Debt securities held to maturity, fair value | $ 593,701 | $ 744,296 |
Debt securities held to maturity, allowance for credit losses | $ 16 | $ 0 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 150,000 | 150,000 |
Common stock, issued (in shares) | 26,898 | 27,062 |
Common stock, outstanding (in shares) | 26,898 | 27,062 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Interest and Loan Fee Income: | ||||
Loans | $ 15,291 | $ 14,431 | $ 44,378 | $ 44,050 |
Equity securities | 103 | 92 | 309 | 289 |
Debt securities available for sale | 22,652 | 18,736 | 66,396 | 54,080 |
Debt securities held to maturity | 3,235 | 4,535 | 10,759 | 14,788 |
Interest-bearing cash | 84 | 1,901 | 1,053 | 5,597 |
Total Interest and Loan Fee Income | 41,365 | 39,695 | 122,895 | 118,804 |
Interest Expense: | ||||
Deposits | 450 | 447 | 1,308 | 1,410 |
Short-term borrowed funds | 16 | 8 | 34 | 27 |
Other borrowed funds | 0 | 0 | 1 | 0 |
Total Interest Expense | 466 | 455 | 1,343 | 1,437 |
Net Interest and Loan Fee Income | 40,899 | 39,240 | 121,552 | 117,367 |
Provision for Credit Losses | 0 | 0 | 4,300 | 0 |
Net Interest and Loan Fee Income After Provision for Credit Losses | 40,899 | 39,240 | 117,252 | 117,367 |
Noninterest Income: | ||||
Life insurance gains | 0 | 0 | 0 | 433 |
Securities gains | 0 | 71 | ||
Securities gains | 0 | 50 | ||
Other noninterest income | 833 | 1,051 | 3,241 | 2,897 |
Total Noninterest Income | 10,476 | 11,809 | 31,678 | 35,676 |
Noninterest Expense: | ||||
Salaries and related benefits | 12,540 | 12,559 | 38,458 | 38,757 |
Occupancy and equipment | 5,014 | 5,199 | 14,737 | 15,163 |
Outsourced data processing services | 2,338 | 2,374 | 7,067 | 7,110 |
Professional fees | 669 | 645 | 1,701 | 1,791 |
Courier service | 500 | 456 | 1,499 | 1,349 |
Amortization of identifiable intangibles | 72 | 76 | 218 | 465 |
Loss contingency | 0 | 0 | 0 | 553 |
Other noninterest expense | 3,470 | 2,724 | 10,341 | 9,589 |
Total Noninterest Expense | 24,603 | 24,033 | 74,021 | 74,777 |
Income Before Income Taxes | 26,772 | 27,016 | 74,909 | 78,266 |
Provision for income taxes | 6,721 | 6,626 | 18,334 | 18,605 |
Net Income | $ 20,051 | $ 20,390 | $ 56,575 | $ 59,661 |
Average Common Shares Outstanding (in shares) | 26,930 | 26,986 | 26,977 | 26,924 |
Average Diluted Common Shares Outstanding (in shares) | 26,946 | 27,027 | 26,998 | 26,976 |
Per Common Share Data: | ||||
Basic earnings (in dollars per share) | $ 0.74 | $ 0.76 | $ 2.10 | $ 2.22 |
Diluted earnings (in dollars per share) | 0.74 | 0.75 | 2.10 | 2.21 |
Dividends paid (in dollars per share) | $ 0.41 | $ 0.41 | $ 1.23 | $ 1.22 |
Deposit Account [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | $ 3,298 | $ 4,510 | $ 10,697 | $ 13,508 |
Credit Card, Merchant Discount [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 2,860 | 2,494 | 7,495 | 7,708 |
Debit Card [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 1,611 | 1,641 | 4,538 | 4,789 |
Fiduciary and Trust [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 756 | 733 | 2,247 | 2,199 |
ATM Processing Fees [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 606 | 725 | 1,703 | 2,080 |
Financial Service, Other [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 454 | 580 | 1,380 | 1,742 |
Financial Services Commission [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | $ 58 | $ 75 | $ 306 | $ 270 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income | $ 20,051 | $ 20,390 | $ 56,575 | $ 59,661 |
Other comprehensive income: | ||||
Changes in unrealized gains on debt securities available for sale | 14,042 | 10,407 | 110,200 | 85,822 |
Deferred tax expense | (4,151) | (3,077) | (32,578) | (25,372) |
Reclassification of gains included in net income | 0 | 0 | (71) | 0 |
Deferred tax expense on gains included in net income | 0 | 0 | 21 | 0 |
Changes in net unrealized gains on debt securities available for sale, net of tax | 9,891 | 7,330 | 77,572 | 60,450 |
Total comprehensive income | $ 29,942 | $ 27,720 | $ 134,147 | $ 120,111 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Deferred Compensation, Share-based Payments [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Deferred Compensation, Share-based Payments [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Common Stock [Member] | Deferred Compensation, Share-based Payments [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 26,730 | 26,730 | |||||||||||||
Balance at Dec. 31, 2018 | $ (2,801) | $ (2,801) | $ 448,351 | $ 1,395 | $ (39,996) | $ 203,040 | $ 612,790 | $ 448,351 | $ 1,395 | $ (39,996) | $ 205,841 | $ 615,591 | |||
Net income applicable to common equity (numerator) | 59,661 | 59,661 | |||||||||||||
Other comprehensive income | 60,450 | 60,450 | |||||||||||||
Stock based compensation | 1,484 | 1,484 | |||||||||||||
Stock awarded to employees | $ 80 | 80 | |||||||||||||
Retirement of common stock (in shares) | (8) | ||||||||||||||
Retirement of common stock | $ (136) | (352) | (488) | ||||||||||||
Dividends | (32,849) | (32,849) | |||||||||||||
Exercise of stock options (in shares) | 222 | ||||||||||||||
Exercise of stock options | $ 11,177 | 11,177 | |||||||||||||
Restricted stock activity (in shares) | 18 | ||||||||||||||
Restricted stock activity | $ 1,697 | (624) | 1,073 | ||||||||||||
Stock awarded to employees (in shares) | 1 | ||||||||||||||
Shares issued from stock warrant exercise, net of repurchase (in shares) | 51 | ||||||||||||||
Balance (in shares) at Sep. 30, 2019 | 27,014 | ||||||||||||||
Balance at Sep. 30, 2019 | $ 462,653 | 771 | 20,454 | 229,500 | 713,378 | ||||||||||
Balance (in shares) at Jun. 30, 2019 | 26,962 | ||||||||||||||
Balance at Jun. 30, 2019 | $ 459,369 | 771 | 13,124 | 220,173 | 693,437 | ||||||||||
Net income applicable to common equity (numerator) | 20,390 | 20,390 | |||||||||||||
Other comprehensive income | 7,330 | 7,330 | |||||||||||||
Stock based compensation | 402 | 402 | |||||||||||||
Stock awarded to employees | $ 15 | 15 | |||||||||||||
Dividends | (11,063) | (11,063) | |||||||||||||
Exercise of stock options (in shares) | 52 | ||||||||||||||
Exercise of stock options | $ 2,867 | 2,867 | |||||||||||||
Balance (in shares) at Sep. 30, 2019 | 27,014 | ||||||||||||||
Balance at Sep. 30, 2019 | $ 462,653 | 771 | 20,454 | 229,500 | 713,378 | ||||||||||
Balance (in shares) at Dec. 31, 2019 | 27,062 | 27,062 | |||||||||||||
Balance at Dec. 31, 2019 | $ 52 | $ 52 | $ 465,460 | $ 771 | $ 26,051 | $ 239,187 | $ 731,469 | $ 465,460 | 771 | 26,051 | 239,135 | 731,417 | |||
Net income applicable to common equity (numerator) | 56,575 | 56,575 | |||||||||||||
Other comprehensive income | 77,572 | 77,572 | |||||||||||||
Stock based compensation | 1,500 | 1,500 | |||||||||||||
Stock awarded to employees | $ 85 | 85 | |||||||||||||
Retirement of common stock (in shares) | (228) | ||||||||||||||
Retirement of common stock | $ (3,952) | (7,782) | (11,734) | ||||||||||||
Dividends | (33,263) | (33,263) | |||||||||||||
Exercise of stock options (in shares) | 53 | ||||||||||||||
Exercise of stock options | $ 2,838 | 2,838 | |||||||||||||
Restricted stock activity (in shares) | 10 | ||||||||||||||
Restricted stock activity | $ 1,270 | (736) | 534 | ||||||||||||
Stock awarded to employees (in shares) | 1 | ||||||||||||||
Balance (in shares) at Sep. 30, 2020 | 26,898 | ||||||||||||||
Balance at Sep. 30, 2020 | $ 467,201 | 35 | 103,623 | 254,717 | 825,576 | ||||||||||
Balance (in shares) at Jun. 30, 2020 | 26,933 | ||||||||||||||
Balance at Jun. 30, 2020 | $ 467,351 | 35 | 93,732 | 246,958 | 808,076 | ||||||||||
Net income applicable to common equity (numerator) | 20,051 | 20,051 | |||||||||||||
Other comprehensive income | 9,891 | 9,891 | |||||||||||||
Stock based compensation | 450 | 450 | |||||||||||||
Stock awarded to employees | $ 19 | 19 | |||||||||||||
Retirement of common stock (in shares) | (35) | ||||||||||||||
Retirement of common stock | $ (619) | (1,249) | (1,868) | ||||||||||||
Dividends | (11,043) | (11,043) | |||||||||||||
Balance (in shares) at Sep. 30, 2020 | 26,898 | ||||||||||||||
Balance at Sep. 30, 2020 | $ 467,201 | $ 35 | $ 103,623 | $ 254,717 | $ 825,576 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Dividends per share (in dollars per share) | $ 0.41 | $ 0.41 | $ 1.23 | $ 1.22 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Operating Activities: | ||
Net income | $ 56,575 | $ 59,661 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 18,482 | 15,178 |
Provision for Credit Losses | 4,300 | 0 |
Net amortization of deferred loan fees | (2,803) | (215) |
Stock option compensation expense | 1,500 | 1,484 |
Life insurance gains | 0 | (433) |
Securities gains | (71) | |
Securities gains | (50) | |
Net changes in: | ||
Interest income receivable | (1,982) | 323 |
Other assets | (4,397) | (2,073) |
Income taxes payable | (520) | (3,386) |
Net deferred tax asset | 325 | 6,386 |
Interest expense payable | 33 | 19 |
Other liabilities | 24,798 | (12,233) |
Net Cash Provided by Operating Activities | 96,240 | 64,661 |
Investing Activities: | ||
Net (disbursements) repayments of loans | (181,894) | 73,026 |
Proceeds from life insurance policies | 0 | 1,273 |
Purchases of debt securities available for sale | (1,612,633) | (732,690) |
Proceeds from sale of equity securities | 0 | 1,797 |
Proceeds from sale/maturity/calls of debt securities available for sale | 807,064 | 502,928 |
Proceeds from maturity/calls of debt securities held to maturity | 156,993 | 184,525 |
Purchases of premises and equipment | (1,682) | (2,495) |
Proceeds from sale of foreclosed assets | 0 | 307 |
Net Cash (Used in) Provided by Investing Activities | (832,152) | 28,671 |
Financing Activities: | ||
Net change in deposits | 726,569 | (70,216) |
Net change in short-term borrowings | 77,045 | (5,601) |
Exercise of stock options | 2,838 | 11,177 |
Retirement of common stock | (11,734) | (488) |
Common stock dividends paid | (33,263) | (32,849) |
Net Cash Provided by (Used in) Financing Activities | 761,455 | (97,977) |
Net Change In Cash and Due from Banks | 25,543 | (4,645) |
Cash and Due from Banks at Beginning of Period | 373,421 | 420,284 |
Cash and Due from Banks at End of Period | 398,964 | 415,639 |
Supplemental disclosure of non cash activities: | ||
Right-of-use assets acquired in exchange for operating lease liabilities | 6,457 | 23,587 |
Amount recognized upon initial adoption of ASU 2016-02 included above | 0 | 15,325 |
Securities purchases pending settlement | 0 | 20,114 |
Supplemental disclosure of cash flow activities: | ||
Cash paid for amounts included in operating lease liabilities | 4,905 | 5,123 |
Interest paid for the period | 1,310 | 1,417 |
Income tax payments for the period | $ 18,708 | $ 16,021 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1: The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission and follow general practices within the banking industry. The results of operations reflect interim adjustments, all of which are of a normal recurring nature and which, in the opinion of Management, are necessary for a fair presentation of the results for the interim periods presented. The interim results for the three nine September 30, 2020 not 10 December 31, 2019. |
Note 2 - Accounting Policies
Note 2 - Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2: The most significant accounting policies followed by the Company are presented in Note 1 10 December 31, 2019. Application of these principles requires the Company to make certain estimates, assumptions, and judgments that affect the amounts reported in the financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; accordingly, as this information changes, the financial statements could reflect different estimates, assumptions, and judgments. Certain accounting policies inherently have a greater reliance on the use of estimates, assumptions and judgments and as such have a greater possibility of producing results that could be materially different than originally reported. Estimates, assumptions and judgments are necessary when assets and liabilities are required to be recorded at fair value, when a decline in the value of an asset not third Certain amounts in prior periods have been reclassified to conform to the current presentation. Recently Adopted Accounting Standards In the nine September 30, 2020, FASB ASU 2016 13, Financial Instruments – Credit Losses (Topic 326 June 16, 2016. The Company adopted the ASU provisions on a modified retrospective basis on January 1, 2020. no The following table summarizes the impact of adoption of ASU 2016 13. January 1, 2020 Balance, Impact of As reported prior to adoption adoption of under of ASU 2016-13 ASU 2016-13 ASU 2016-13 (In thousands) Assets: Allowance for credit losses on loans: Commercial $ 4,959 $ 3,385 $ 8,344 Commercial real estate 4,064 618 4,682 Construction 109 (31 ) 78 Residential real estate 206 (132 ) 74 Consumer and other installment loans 6,445 1,878 8,323 Unallocated 3,701 (3,701 ) - Allowance for credit losses on loans: $ 19,484 $ 2,017 $ 21,501 Allowance for credit losses on debt securities held to maturity - 16 16 Liabilities Allowance for credit losses for unfunded commitments 2,160 (2,107 ) 53 Debt Securities. Debt securities consist of the U.S. Treasury, securities of government sponsored entities, states, counties, municipalities, corporations, agency and non-agency mortgage-backed securities, and collateralized loan obligations. Securities transactions are recorded on a trade date basis. The Company classifies its debt securities in one three not not The Company utilizes third 1 2 third one third third not 3 The Company follows the guidance issued by the Board of Governors of the Federal Reserve System, “Investing in Securities without Reliance on Nationally Recognized Statistical Rating Agencies” (SR 12 15 To the extent that debt securities in the held-to-maturity portfolio share common risk characteristics, estimated expected credit losses are calculated in a manner like that used for loans held for investment. That is, for pools of such securities with common risk characteristics, the historical lifetime probability of default and severity of loss in the event of default is derived or obtained from external sources and adjusted for the expected effects of reasonable and supportable forecasts over the expected lives of the securities on those historical credit losses. Expected credit loss on each security in the held-to-maturity portfolio that do not may not AFS debt securities in unrealized loss positions are evaluated for credit related loss at least quarterly. For AFS debt securities, a decline in fair value due to credit loss results in recording an allowance for credit losses to the extent the fair value is less than the amortized cost basis. Declines in fair value that have not not not not If the Company intends to sell a debt security or more likely than not Purchase premiums are amortized to the earliest call date and purchase discounts are amortized to maturity as an adjustment to yield using the effective interest method. Unamortized premiums, unaccreted discounts, and early payment premiums are recognized as a component of gain or loss on sale upon disposition of the related security. Interest and dividend income are recognized when earned. Realized gains and losses from the sale of available for sale securities are included in earnings using the specific identification method. Nonmarketable Equity Securities. Nonmarketable equity securities include securities that are not Loans. Loans are stated at the principal amount outstanding, net of unearned discount and unamortized deferred fees and costs. Interest is accrued daily on the outstanding principal balances and included in other assets. Loans which are more than 90 none 120 A troubled debt restructuring (“TDR”) occurs when the Company, for reasons related to a borrower’s financial difficulties, grants a concession to the borrower it would not may not 1 2 not 30 December 31, 2019; 3 March 1, 2020, 60 December 31, 2020. Allowance for Credit Losses. The Company extends loans to commercial and consumer customers primarily in Northern and Central California. These lending activities expose the Company to the risk borrowers will default, causing loan losses. The Company’s lending activities are exposed to various qualitative risks. All loan segments are exposed to risks inherent in the economy and market conditions. Significant risk characteristics related to the commercial loan segment include the borrowers’ business performance and financial condition, and the value of collateral for secured loans. Significant risk characteristics related to the commercial real estate segment include the borrowers’ business performance and the value of properties collateralizing the loans. Significant risk characteristics related to the construction loan segment include the borrowers’ performance in successfully developing the real estate into the intended purpose and the value of the property collateralizing the loans. Significant risk characteristics related to the residential real estate segment include the borrowers’ financial wherewithal to service the mortgages and the value of the property collateralizing the loans. Significant risk characteristics related to the consumer loan segment include the financial condition of the borrowers and the value of collateral securing the loans. The preparation of these financial statements requires Management to estimate the amount of expected losses over the expected contractual life of our existing loan portfolio and establish an allowance for credit losses. Loan agreements generally include a maturity date, and the Company considers the contractual life of a loan agreement to extend from the date of origination to the contractual maturity date. In estimating credit losses, Management must exercise significant judgment in evaluating information deemed relevant. The amount of ultimate losses on the loan portfolio can vary from the estimated amounts. Management follows a systematic methodology to estimate loss potential in an effort to reduce the differences between estimated and actual losses. The allowance for credit losses is established through provisions for credit losses charged to income. Losses on loans are charged to the allowance for credit losses when all or a portion of the recorded amount of a loan is deemed to be uncollectible. Recoveries of loans previously charged off are credited to the allowance when realized. The Company’s allowance for credit losses is maintained at a level considered adequate to provide for expected losses based on historical loss rates adjusted for current and expected conditions over a forecast period. These include conditions unique to individual borrowers, as well as overall credit loss experience, the amount of past due, nonperforming and classified loans, recommendations of regulatory authorities, prevailing economic conditions, or credit protection agreements and other factors. Loans that share common risk characteristics are segregated into pools based on common characteristics, which is primarily determined by loan, borrower, or collateral type. Historical loss rates are determined for each pool. For consumer installment loans, primarily secured by automobiles, historical loss rates are determined using a vintage methodology, which tracks losses based on period of origination. For commercial, construction, and commercial real estate, historical loss rates are determined using an open pool methodology where losses are tracked over time for all loans included in the pool at the historical measurement date. Historical loss rates are adjusted for factors that are not not two not not two Loans that do not not Accrued interest is recorded in other assets and is excluded from the estimation of expected credit loss. Accrued interest is reversed through interest income when amounts are determined to be uncollectible, which generally occurs when the underlying receivable is placed on nonaccrual status or charged off. Liability for Off-Balance Sheet Credit Exposures. Off-balance sheet credit exposures relate to letters of credit and unfunded loan commitments for commercial, construction and consumer loans. The Company maintains a separate allowance for credit losses from off-balance-sheet credit exposures, which is included within other liabilities on the consolidated statements of financial condition. Increases or reductions to the Company’s allowance for credit losses from off-balance sheet credit exposures are recorded in other expenses. Management estimates the amount of expected losses by estimating expected usage exposures that are not No may FASB ASU 2018 13 Fair Value Measurements (Topic 820 August 2018. The provisions of the ASU were effective January 1, 2020 January 1, 2020. not Recently Issued Accounting Standards FASB ASU 2019 12 Income Taxes (Topic 740 December 2019. 740 December 15, 2020, January 1, 2021. FASB ASU 2020 04 Reference Rate Reform (Topic 848 March 2020. no not 2020 04 2020 04 March 12, 2020 December 31, 2022. may 2020 04 January 1, 2020, March 12, 2020, not |
Note 3 - Investment Securities
Note 3 - Investment Securities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3 : Investment Securities The Company’s marketable equity securities were sold in the third 2019. nine September 30, 2019, no September 30, 2020 December 31, 2019. During the quarter and nine September 30, 2020, no At September 30, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale Agency residential mortgage-backed securities ("MBS") $ 720,123 $ 25,174 $ - $ 745,297 Agency commercial MBS 3,601 - (16 ) 3,585 Securities of U.S. Government entities 163 - - 163 Obligations of states and political subdivisions 121,951 5,223 (2 ) 127,172 Corporate securities 2,098,444 114,582 (199 ) 2,212,827 Commercial paper 224,862 29 (75 ) 224,816 Collateralized loan obligations 667,735 3,053 (654 ) 670,134 Total debt securities available for sale 3,836,879 148,061 (946 ) 3,983,994 Debt securities held to maturity Agency residential MBS 272,460 7,648 (39 ) 280,069 Non-agency residential MBS 2,020 36 - 2,056 Obligations of states and political subdivisions 303,331 8,261 - 311,592 Total debt securities held to maturity 577,811 15,945 (39 ) 593,717 Total $ 4,414,690 $ 164,006 $ (985 ) $ 4,577,711 At December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale U.S. Treasury securities $ 19,999 $ 1 $ - $ 20,000 Securities of U.S. Government sponsored entities 111,251 14 (98 ) 111,167 Agency residential MBS 934,592 10,996 (5,838 ) 939,750 Agency commercial MBS 3,711 - (3 ) 3,708 Securities of U.S. Government entities 553 - (9 ) 544 Obligations of states and political subdivisions 159,527 3,656 (44 ) 163,139 Corporate securities 1,805,479 29,183 (879 ) 1,833,783 Collateralized loan obligations 6,748 7 - 6,755 Total debt securities available for sale 3,041,860 43,857 (6,871 ) 3,078,846 Debt securities held to maturity Agency residential MBS 353,937 766 (2,235 ) 352,468 Non-agency residential MBS 2,354 22 - 2,376 Obligations of states and political subdivisions 381,781 7,672 (1 ) 389,452 Total debt securities held to maturity 738,072 8,460 (2,236 ) 744,296 Total $ 3,779,932 $ 52,317 $ (9,107 ) $ 3,823,142 The amortized cost and fair value of debt securities by contractual maturity are shown in the following tables at the dates indicated: At September 30, 2020 Debt Securities Available Debt Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 452,154 $ 454,493 $ 63,044 $ 63,504 Over 1 to 5 years 973,305 1,026,667 132,750 136,640 Over 5 to 10 years 1,480,374 1,544,476 107,537 111,448 Over 10 years 207,322 209,476 - - Subtotal 3,113,155 3,235,112 303,331 311,592 MBS 723,724 748,882 274,480 282,125 Total $ 3,836,879 $ 3,983,994 $ 577,811 $ 593,717 At December 31, 2019 Debt Securities Available Debt Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 294,698 $ 295,255 $ 70,378 $ 70,602 Over 1 to 5 years 1,104,775 1,122,391 161,911 165,126 Over 5 to 10 years 670,595 683,277 149,492 153,724 Over 10 years 33,489 34,465 - - Subtotal 2,103,557 2,135,388 381,781 389,452 MBS 938,303 943,458 356,291 354,844 Total $ 3,041,860 $ 3,078,846 $ 738,072 $ 744,296 Expected maturities of mortgage-related securities can differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. In addition, such factors as prepayments and interest rates may September 30, 2020 December 31, 2019, no An analysis of the gross unrealized losses of the debt securities available for sale portfolio follows: Debt Securities Available for Sale At September 30, 2020 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Agency residential MBS 1 $ 98 $ - 1 $ 21 $ - 2 $ 119 $ - Agency commercial MBS 1 3,585 (16 ) - - - 1 3,585 (16 ) Securities of U.S. Government entities 1 163 - - - - 1 163 - Obligations of states and political subdivisions 5 2,447 (2 ) - - - 5 2,447 (2 ) Corporate securities - - - 2 18,263 (199 ) 2 18,263 (199 ) Commercial paper 4 99,874 (75 ) - - - 4 99,874 (75 ) Collateralized loan obligations 29 216,358 (654 ) - - - 29 216,358 (654 ) Total 41 $ 322,525 $ (747 ) 3 $ 18,284 $ (199 ) 44 $ 340,809 $ (946 ) An analysis of gross unrecognized losses of the debt securities held to maturity portfolio follows: Debt Securities Held to Maturity At September 30, 2020 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Agency residential MBS 2 $ 153 $ (1 ) 3 $ 1,109 $ (38 ) 5 $ 1,262 $ (39 ) Based upon the most recent evaluation, the unrealized losses on the Company’s debt securities available for sale were most likely caused by market conditions for these types of investments, particularly changes in risk-free interest rates and/or market bid-ask spreads. The Company does not not not not September 30, 2020. The fair values of debt securities available for sale could decline in the future if the general economy deteriorates inflation increases, credit ratings decline, the issuer’s financial condition deteriorates, or the liquidity for debt securities declines. As a result, significant credit loss on debt securities available for sale may As of September 30, 2020 December 31, 2019, An analysis of the gross unrealized losses of the debt securities available for sale portfolio follows: Debt Securities Available for Sale At December 31, 2019 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 1 $ 9,951 $ (49 ) 3 $ 45,877 $ (49 ) 4 $ 55,828 $ (98 ) Agency residential MBS 6 11,674 (100 ) 47 347,384 (5,738 ) 53 359,058 (5,838 ) Agency commercial MBS 1 3,708 (3 ) - - - 1 3,708 (3 ) Securities of U.S. Government entities - - - 2 544 (9 ) 2 544 (9 ) Obligations of states and political subdivisions - - - 7 4,163 (44 ) 7 4,163 (44 ) Corporate securities 8 71,577 (162 ) 11 64,380 (717 ) 19 135,957 (879 ) Total 16 $ 96,910 $ (314 ) 70 $ 462,348 $ (6,557 ) 86 $ 559,258 $ (6,871 ) An analysis of gross unrecognized losses of the debt securities held to maturity portfolio follows: Debt Securities Held to Maturity At December 31, 2019 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Agency residential MBS 6 $ 12,098 $ (87 ) 54 $ 277,203 $ (2,148 ) 60 $ 289,301 $ (2,235 ) Obligations of states and political subdivisions - - - 1 251 (1 ) 1 251 (1 ) Total 6 $ 12,098 $ (87 ) 55 $ 277,454 $ (2,149 ) 61 $ 289,552 $ (2,236 ) The Company evaluates debt securities on a quarterly basis including changes in security ratings issued by rating agencies, changes in the financial condition of the issuer, and, for mortgage-backed and asset-backed securities, delinquency and loss information with respect to the underlying collateral, changes in the levels of subordination for the Company’s particular position within the repayment structure and remaining credit enhancement as compared to expected credit losses of the security. Substantially all of these securities continue to be investment grade rated by a major rating agency. One corporate bond with an amortized cost of $15.0 million and a fair value of $14.9 million at September 30, 2020, 2021, The following table presents the activity in the allowance for credit losses for debt securities held to maturity: For the Nine Months Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance, prior to adoption of ASU 2016-13 $ - Impact of adopting ASU 2016-13 16 Provision - Chargeoffs - Recoveries - Total ending balance $ 16 Agency mortgage-backed securities were assigned no The following table summarizes the amortized cost of debt securities held to maturity at September 30, 2020, Credit Risk Profile by Credit Rating At September 30, 2020 (In thousands) AAA/AA/A BBB BB/B Total Agency residential MBS $ 272,460 $ - $ - $ 272,460 Non-agency residential MBS 1,005 - 1,015 2,020 Obligations of states and political subdivisions 303,230 101 - 303,331 Total $ 576,695 $ 101 $ 1,015 $ 577,811 There were no debt securities held to maturity on nonaccrual status or past due 30 September 30, 2020. The following table provides information about the amount of interest income earned on investment securities which is fully taxable and which is exempt from federal income tax: For the Three Months For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Taxable $ 23,079 $ 19,586 $ 67,963 $ 56,992 Tax-exempt from federal income tax 2,911 3,777 9,501 12,165 Total interest income from investment securities $ 25,990 $ 23,363 $ 77,464 $ 69,157 |
Note 4 - Loans, Allowance for L
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 : Loans , Allowance for Loan Losses/ Credit Losses and Other Real Estate Owned A summary of the major categories of loans outstanding is shown in the following tables at the dates indicated. At September 30, At December 31, 2020 2019 (In thousands) Commercial: Paycheck Protection Program ("PPP") loans $ 243,982 $ - Other 201,623 222,085 Total commercial 445,605 222,085 Commercial Real Estate 563,707 578,758 Construction 140 1,618 Residential Real Estate 25,076 32,748 Consumer Installment & Other 275,481 291,455 Total $ 1,310,009 $ 1,126,664 The following summarizes activity in the allowance for loan losses/credit losses: Allowance for Credit Losses For the Three Months Ended September 30, 2020 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Total (In thousands) Allowance for credit losses: Balance at beginning of period $ 8,072 $ 4,623 $ 7 $ 57 $ 11,770 $ 24,529 Provision (reversal) 867 1,030 - (5 ) (1,892 ) - Chargeoffs - - - - (872 ) (872 ) Recoveries 46 12 - - 427 485 Total allowance for credit losses $ 8,985 $ 5,665 $ 7 $ 52 $ 9,433 $ 24,142 Allowance for Credit Losses For the Nine Months Ended September 30, 2020 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for credit losses: Balance at beginning of period, prior to adoption of ASU 2016-13 $ 4,959 $ 4,064 $ 109 $ 206 $ 6,445 $ 3,701 $ 19,484 Impact of adopting ASU 2016-13 3,385 618 (31 ) (132 ) 1,878 (3,701 ) 2,017 Adjusted beginning balance 8,344 4,682 78 74 8,323 - 21,501 Provision (reversal) 537 946 (71 ) (22 ) 2,910 - 4,300 Chargeoffs (178 ) - - - (3,071 ) - (3,249 ) Recoveries 282 37 - - 1,271 - 1,590 Total allowance for credit losses $ 8,985 $ 5,665 $ 7 $ 52 $ 9,433 $ - $ 24,142 The growth in commercial loan balances was due to originations of PPP loans which are 100% not Allowance for Loan Losses For the Three Months Ended September 30, 2019 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 5,235 $ 4,057 $ 1,117 $ 238 $ 5,418 $ 4,052 $ 20,117 (Reversal) provision (596 ) (1 ) 482 (16 ) 655 (524 ) - Chargeoffs - - - - (1,039 ) - (1,039 ) Recoveries 233 12 - - 505 - 750 Total allowance for loan losses $ 4,872 $ 4,068 $ 1,599 $ 222 $ 5,539 $ 3,528 $ 19,828 Allowance for Loan Losses For the Nine Months Ended September 30, 2019 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 6,311 $ 3,884 $ 1,465 $ 869 $ 5,645 $ 3,177 $ 21,351 (Reversal) provision (1,817 ) 146 134 (647 ) 1,833 351 - Chargeoffs (71 ) - - - (3,332 ) - (3,403 ) Recoveries 449 38 - - 1,393 - 1,880 Total allowance for loan losses $ 4,872 $ 4,068 $ 1,599 $ 222 $ 5,539 $ 3,528 $ 19,828 The allowance for loan losses and recorded investment in loans evaluated for impairment were as follows: Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At December 31, 2019 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 2,413 $ - $ - $ - $ - $ - $ 2,413 Collectively evaluated for impairment 2,546 4,064 109 206 6,445 3,701 17,071 Total $ 4,959 $ 4,064 $ 109 $ 206 $ 6,445 $ 3,701 $ 19,484 Carrying value of loans: Individually evaluated for impairment $ 8,182 $ 7,409 $ - $ 190 $ 43 $ - $ 15,824 Collectively evaluated for impairment 213,903 571,349 1,618 32,558 291,412 - 1,110,840 Total $ 222,085 $ 578,758 $ 1,618 $ 32,748 $ 291,455 $ - $ 1,126,664 The Company’s customers are small businesses, professionals and consumers. Given the scale of these borrowers, corporate credit rating agencies do not The following summarizes the credit risk profile by internally assigned grade: Credit Risk Profile by Internally Assigned Grade At September 30, 2020 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 437,216 $ 546,714 $ 140 $ 23,699 $ 274,251 $ 1,282,020 Substandard 8,389 16,993 - 1,377 320 27,079 Doubtful - - - - 505 505 Loss - - - - 405 405 Total $ 445,605 $ 563,707 $ 140 $ 25,076 $ 275,481 $ 1,310,009 Credit Risk Profile by Internally Assigned Grade At December 31, 2019 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 213,542 $ 567,525 $ 1,618 $ 31,055 $ 289,424 $ 1,103,164 Substandard 8,543 11,233 - 1,693 1,329 22,798 Doubtful - - - - 308 308 Loss - - - - 394 394 Total $ 222,085 $ 578,758 $ 1,618 $ 32,748 $ 291,455 $ 1,126,664 The following tables summarize loans by delinquency and nonaccrual status: Summary of Loans by Delinquency and Nonaccrual Status At September 30, 2020 Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 444,496 $ 963 $ 39 $ - $ 107 $ 445,605 Commercial real estate 559,361 624 - - 3,722 563,707 Construction 140 - - - - 140 Residential real estate 24,357 558 - - 161 25,076 Consumer installment and other 272,631 1,328 772 360 390 275,481 Total $ 1,300,985 $ 3,473 $ 811 $ 360 $ 4,380 $ 1,310,009 Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2019 Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 221,199 $ 531 $ 158 $ - $ 197 $ 222,085 Commercial real estate 573,809 432 421 - 4,096 578,758 Construction 1,618 - - - - 1,618 Residential real estate 31,934 274 540 - - 32,748 Consumer installment and other 286,391 2,960 1,517 440 147 291,455 Total $ 1,114,951 $ 4,197 $ 2,636 $ 440 $ 4,440 $ 1,126,664 There was no allowance for credit losses allocated to loans on nonaccrual status as of September 30, 2020. September 30, 2020 December 31, 2019. The following summarizes impaired loans as of December 31, 2019: Impaired Loans At December 31, 2019 Unpaid Recorded Principal Related Investment Balance Allowance (In thousands) With no related allowance recorded: Commercial $ 21 $ 21 $ - Commercial real estate 7,408 8,856 - Residential real estate 190 220 - Consumer installment and other 43 43 - Total with no related allowance recorded 7,662 9,140 - With an allowance recorded: Commercial 8,160 8,160 2,413 Total with an allowance recorded 8,160 8,160 2,413 Total $ 15,822 $ 17,300 $ 2,413 Impaired loans at December 31, 2019, Impaired Loans For the Three Months For the Nine Months Ended September 30, 2019 Average Recognized Average Recognized Recorded Interest Recorded Interest Investment Income Investment Income (In thousands) Commercial $ 8,701 $ 144 $ 9,404 $ 476 Commercial real estate 7,968 60 7,133 333 Residential real estate 194 4 196 10 Consumer installment and other 99 - 103 - Total $ 16,962 $ 208 $ 16,836 $ 819 The following tables provide information on troubled debt restructurings (TDRs): Troubled Debt Restructurings At September 30, 2020 Period-End Individual Number of Pre-Modification Period-End Credit Loss Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial real estate 6 $ 8,367 $ 6,121 $ - Residential real estate 1 241 183 - Total 7 $ 8,608 $ 6,304 $ - Troubled Debt Restructurings At December 31, 2019 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 2 $ 278 $ 32 $ 11 Commercial real estate 6 8,367 6,492 - Residential real estate 1 241 189 - Total 9 $ 8,886 $ 6,713 $ 11 During the three nine September 30, 2020, not 4013 19 three nine September 30, 2020, 4013 90 September 30, 2020, September 30, 2020, three nine September 30, 2019, not three nine September 30, 2020 2019. three nine September 30, 2020 2019, 12 ninety TDRs of $6,304 thousand included loans of $3,420 thousand on nonaccrual status at September 30, 2020. No one September 30, 2020. September 30, 2020. September 30, 2020, 90 no September 30, 2020. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Commercial loans by grade Pass $ 20,496 $ 5,205 $ 26,132 $ 10,860 $ 21,343 $ 42,380 $ 270,664 $ 397,080 $ 40,136 $ 437,216 Substandard 64 - 1 - - - 7,876 7,941 448 8,389 Doubtful - - - - - - - - - - Loss - - - - - - - - - - Total $ 20,560 $ 5,205 $ 26,133 $ 10,860 $ 21,343 $ 42,380 $ 278,540 $ 405,021 $ 40,584 $ 445,605 At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Commercial real estate loans by grade Pass $ 88,661 $ 50,764 $ 43,804 $ 101,731 $ 95,622 $ 94,531 $ 71,601 $ 546,714 $ - $ 546,714 Substandard 4,807 1,314 9,921 107 - - 844 16,993 - 16,993 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 93,468 $ 52,078 $ 53,725 $ 101,838 $ 95,622 $ 94,531 $ 72,445 $ 563,707 $ - $ 563,707 At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Construction loans by grade Pass $ - $ - $ - $ - $ - $ - $ - $ - $ 140 $ 140 Substandard - - - - - - - - - - Doubtful - - - - - - - - - - Loss - - - - - - - - - - Total $ - $ - $ - $ - $ - $ - $ - $ - $ 140 $ 140 At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Residential Real Estate loans by grade Pass $ 23,699 $ - $ - $ - $ - $ - $ - $ 23,699 $ - $ 23,699 Substandard 1,377 - - - - - - 1,377 - 1,377 Doubtful - - - - - - - - - - Loss - - - - - - - - - - Total $ 25,076 $ - $ - $ - $ - $ - $ - $ 25,076 $ - $ 25,076 The Company considers the delinquency and nonaccrual status of the consumer loan portfolio and its impact on the allowance for credit losses. The following table presents the amortized cost in consumer installment and other loans based on delinquency and nonaccrual status: At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Consumer installment and other loans by delinquency and nonaccrual status Current $ 5,087 $ 6,457 $ 19,339 $ 24,554 $ 53,347 $ 69,313 $ 64,893 $ 242,990 $ 29,641 $ 272,631 30-59 days past due 35 91 147 224 266 402 148 1,313 15 1,328 60-89 days past due 2 30 48 163 327 160 40 770 2 772 Past due 90 days or more - 5 29 - 226 66 31 357 3 360 Nonaccrual - - - - - - - - 390 390 Total $ 5,124 $ 6,583 $ 19,563 $ 24,941 $ 54,166 $ 69,941 $ 65,112 $ 245,430 $ 30,051 $ 275,481 There were no September 30, 2020 December 31, 2019. At September 30, 2020 December 31, 2019, no September 30, 2020 December 31, 2019. no September 30, 2020 December 31, 2019. September 30, 2020 December 31, 2019. |
Note 5 - Concentration of Credi
Note 5 - Concentration of Credit Risk | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 5 : Concentration of Credit Risk Under the California Financial Code, credit extended to any one one not not not September 30, 2020, not one September 30, 2020, 4, September 30, 2020 December 31, 2019, no no September 30, 2020, |
Note 6 - Other Assets and Other
Note 6 - Other Assets and Other Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Other Assets and Liabilities Disclosure [Text Block] | Note 6 : Other Assets and Other Liabilities Other assets consisted of the following: At September 30, At December 31, 2020 2019 (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,069 $ 14,069 Other investments 158 158 Total cost method equity investments 14,227 14,227 Life insurance cash surrender value 59,868 57,810 Net deferred tax asset - 11,085 Right-of-use asset 19,098 17,136 Limited partnership investments 18,935 20,773 Interest receivable 30,779 28,797 Prepaid assets 3,619 3,737 Other assets 13,743 10,767 Total other assets $ 160,269 $ 164,332 ( 1 A bank applying for membership in the Federal Reserve System is required to subscribe to stock in the Federal Reserve Bank (FRB) in its district in a sum equal to six The Company owns 211 thousand shares of Visa Inc. class B common stock which have transfer restrictions; the carrying value is $-0- thousand. On September 30, 2019, September 27, 2019 September 27, 2019. September 30, 2020, third 2020. The Company invests in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for low-income housing tax credits. At September 30, 2020, December 31, 2019, September 30, 2020, 2020, 2021, 2022, 2023, 2024, 2025, 2026 2027 The amounts recognized in net income for these investments include: For the Three Months Ended For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Investment loss included in pre-tax income $ 640 $ 600 $ 1,840 $ 1,800 Tax credits recognized in provision for income taxes 225 225 675 675 Other liabilities consisted of the following: At September 30, At December 31, 2020 2019 (In thousands) Net deferred tax liability $ 21,819 $ - Operating lease liability 19,098 17,136 Other liabilities 49,559 27,453 Total other liabilities $ 90,476 $ 44,589 The deferred tax liability at September 30, 2020 December 31, 2019 The Company has entered into leases for most branch locations and certain other offices that were classified as operating leases primarily with original terms of five one five not not not September 30, 2020. As of September 30, 2020, September 30, 2020. not September 30, 2020. Total lease costs during the three nine September 30, 2020, not nine September 30, 2020. The following table summarizes the remaining lease payments of operating lease liabilities: Minimum At September 30, 2020 (In thousands) The remaining three months of 2020 $ 1,599 2021 5,353 2022 4,426 2023 3,689 2024 2,078 Thereafter 2,863 Total minimum lease payments 20,008 Less: discount (910 ) Present value of lease liability $ 19,098 |
Note 7 - Goodwill and Identifia
Note 7 - Goodwill and Identifiable Intangible Assets | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 : Goodwill and Identifiable Intangible Assets The Company has recorded goodwill and other identifiable intangibles associated with purchase business combinations. Goodwill is not not three nine September 30, 2020 December 31, 2019. three nine September 30, 2020 December 31, 2019 The carrying values of goodwill were: At September 30, 2020 At December 31, 2019 (In thousands) Goodwill $ 121,673 $ 121,673 The gross carrying amount of identifiable intangible assets and accumulated amortization was: At September 30, 2020 At December 31, 2019 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core deposit intangibles $ 56,808 $ (55,635 ) $ 56,808 $ (55,417 ) As of September 30, 2020, Total Core Deposit Intangibles (In thousands) For the nine months ended September 30, 2020 (actual) $ 218 Estimate for the remainder of year ending December 31, 2020 69 Estimate for year ending December 31, 2021 269 2022 252 2023 236 2024 222 2025 125 |
Note 8 - Deposits and Borrowed
Note 8 - Deposits and Borrowed Funds | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Deposits and Borrowed Funds [Text Block] | Note 8 : Deposits and Borrowed Funds The following table provides additional detail regarding deposits. Deposits At September 30, At December 31, 2020 2019 (In thousands) Noninterest-bearing $ 2,684,028 $ 2,240,112 Interest-bearing: Transaction 1,040,712 931,888 Savings 1,653,000 1,471,284 Time deposits less than $100 thousand 83,838 88,355 Time deposits $100 thousand through $250 thousand 50,378 54,874 Time deposits more than $250 thousand 27,234 26,108 Total deposits $ 5,539,190 $ 4,812,621 Demand deposit overdrafts of $1,466 thousand and $1,055 thousand were included as loan balances at September 30, 2020 December 31, 2019, $100 three nine September 30, 2020, three nine September 30, 2019, The following table provides additional detail regarding short-term borrowed funds. Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At September 30, At December 31, 2020 2019 Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ - $ 65,833 Agency residential MBS 76,715 52,485 Corporate securities 183,447 146,253 Total collateral carrying value $ 260,162 $ 264,571 Total short-term borrowed funds $ 107,973 $ 30,928 |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 9 : Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Debt securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may In accordance with the Fair Value Measurement and Disclosure topic of the FASB Accounting Standards Codification, the Company bases its fair values on the price that would be received to sell an asset or paid to transfer a liability in the principal market or most advantageous market for an asset or liability in an orderly transaction between market participants on the measurement date under current market conditions. A fair value measurement reflects all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance. The Company groups its assets and liabilities measured at fair value into a three Level 1 1 Level 2 not 2 Level 3 not The Company relies on independent vendor pricing services to measure fair value for equity securities, debt securities available for sale and debt securities held to maturity. The Company employs three may not The Company regularly reviews the valuation techniques and assumptions used by its vendors and determines which valuation techniques are utilized based on observable market inputs for the type of securities being measured. The Company uses the information to determine the placement in the fair value hierarchy as level 1, 2 3. Assets Recorded at Fair Value on a Recurring Basis The tables below present assets measured at fair value on a recurring basis on the dates indicated. At September 30, 2020 Fair Value Quoted Prices Significant Other Significant (1) (In thousands) Debt securities available for sale Agency residential mortgage-backed securities (MBS) $ 745,297 $ - $ 745,297 $ - Agency commercial MBS 3,585 - 3,585 - Securities of U.S. Government entities 163 - 163 - Obligations of states and political subdivisions 127,172 - 127,172 - Corporate securities 2,212,827 - 2,212,827 - Commercial paper 224,816 224,816 Collateralized loan obligations 670,134 - 670,134 - Total debt securities available for sale $ 3,983,994 $ - $ 3,983,994 $ - ( 1 no 3 nine September 30, 2020. At December 31, 2019 Fair Value Quoted Prices Significant Other Significant (1) (In thousands) Debt securities available for sale U.S. Treasury securities $ 20,000 $ 20,000 $ - $ - Securities of U.S. Government sponsored entities 111,167 - 111,167 - Agency residential MBS 939,750 - 939,750 - Agency commercial MBS 3,708 - 3,708 - Securities of U.S. Government entities 544 - 544 - Obligations of states and political subdivisions 163,139 - 163,139 - Corporate securities 1,833,783 - 1,833,783 - Collateralized loan obligations 6,755 - 6,755 - Total debt securities available for sale $ 3,078,846 $ 20,000 $ 3,058,846 $ - ( 1 no 3 twelve December 31, 2019. Assets Recorded at Fair Value on a Nonrecurring Basis The Company may September 30, 2020 December 31, 2019, For the Nine Months Ended At September 30, 2020 September 30, 2020 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 43 $ - $ - $ 43 $ - Loans: Commercial 5,354 - - 5,354 - Commercial real estate 3,773 - - 3,773 - Residential real estate 183 - - 183 - Total assets measured at fair value on a nonrecurring basis $ 9,353 $ - $ - $ 9,353 $ - For the Twelve Months Ended At December 31, 2019 December 31, 2019 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 43 $ - $ - $ 43 $ - Impaired loans: Commercial 5,747 - - 5,747 - Commercial real estate 4,091 - - 4,091 - Residential real estate 190 - - 190 - Total assets measured at fair value on a nonrecurring basis $ 10,071 $ - $ - $ 10,071 $ - Level 3 third 3 not not Disclosures about Fair Value of Financial Instruments The tables below are a summary of fair value estimates for financial instruments and the level of the fair value hierarchy within which the fair value measurements are categorized, excluding financial instruments recorded at fair value on a recurring basis. The values assigned do not may not may The Company has not not not not At September 30, 2020 Carrying Estimated Quoted Prices Significant Other Significant Financial Assets: (In thousands) Cash and due from banks $ 398,964 $ 398,964 $ 398,964 $ - $ - Debt securities held to maturity 577,795 593,701 - 593,701 - Loans 1,285,867 1,347,245 - - 1,347,245 Financial Liabilities: Deposits $ 5,539,190 $ 5,539,300 $ - $ 5,377,740 $ 161,560 Short-term borrowed funds 107,973 107,973 - 107,973 - At December 31, 2019 Carrying Estimated Quoted Prices Significant Other Significant Financial Assets: (In thousands) Cash and due from banks $ 373,421 $ 373,421 $ 373,421 $ - $ - Debt securities held to maturity 738,072 744,296 - 744,296 - Loans 1,107,180 1,152,949 - - 1,152,949 Financial Liabilities: Deposits $ 4,812,621 $ 4,810,934 $ - $ 4,643,284 $ 167,650 Short-term borrowed funds 30,928 30,928 - 30,928 - The majority of the Company’s standby letters of credit and other commitments to extend credit carry current market interest rates if converted to loans. No |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10 : Commitments and Contingent Liabilities Loan commitments are agreements to lend to a customer provided there is no not September 30, 2020. not September 30, 2020 December 31, 2019. September 30, 2020 December 31, 2019. September 30, 2020 December 31, 2019. 3 rd September 30, 2020 December 31, 2019, September 30, 2020 December 31, 2019, The Company determined that it will be obligated to provide refunds of revenue recognized in years prior to 2018 2017; second 2019, Due to the nature of its business, the Company is subject to various threatened or filed legal cases. Based on the advice of legal counsel, the Company does not |
Note 11 - Earnings Per Common S
Note 11 - Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 1 1 : Earnings Per Common Share The table below shows earnings per common share and diluted earnings per common share. Basic earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period plus the impact of common stock equivalents. For the Three Months For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 20,051 $ 20,390 $ 56,575 $ 59,661 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 26,930 26,986 26,977 26,924 Basic earnings per common share $ 0.74 $ 0.76 $ 2.10 $ 2.22 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,930 26,986 26,977 26,924 Add common stock equivalents for options 16 41 21 52 Weighted average number of common shares outstanding - diluted (denominator) 26,946 27,027 26,998 26,976 Diluted earnings per common share $ 0.74 $ 0.75 $ 2.10 $ 2.21 For the three nine September 30, 2020, not For the three nine September 30, 2019, not |
Note 12 - Impact of COVID-19
Note 12 - Impact of COVID-19 | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Unusual or Infrequent Items, or Both, Disclosure [Text Block] | Note 12: 19 The COVID- 19 The COVID- 19 first 2020 third 2020 may March 19, 2020, second third 2020 third 2020. The Bank's deposits are exclusively sourced within California and its loans are primarily to borrowers domiciled within California. Demand for the Bank's products and services, such as loans and deposits, could be affected as a result of the decline in economic activity within the state. The Bank's investment portfolio contains bonds for which the source of repayment is domestic mortgage repayments, domestic municipalities throughout the United States, and domestic and global corporations. The value of the Bank's investment portfolio may In response to the pandemic, the Federal Reserve has engaged significant levels of monetary policy to provide liquidity and credit facilities to the financial markets. On March 15, 2020, 0 0.25 0.10 March 16, 2020, may In response to the pandemic, the United States federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") on March 27, 2020, $2 $350 April 2020, $310 June 30, 2020, September 30, 2020. On April 7, 2020, 19 September 30, 2020, The extent of the spread of the coronavirus, its ultimate containment and its effects on the economy and the Company are uncertain at this time. The effectiveness of the Federal Reserve Bank's monetary policies and the federal government's fiscal policies in stimulating the United States economy is uncertain at this time. Management expects the Company's net interest margin and non-interest income to decline and credit-related losses to increase for an uncertain period given the decline in economic activity occurring due to the coronavirus. The amount of impact on the Company's financial results is uncertain. In addition, the Company's future success and profitability substantially depends upon the skills and experience of its executive officers and directors, many of whom have held positions with the Company for many years. The unanticipated loss or unavailability of key employees due to the outbreak could adversely affect the Company's ability to operate its business or execute its business strategy. Any one The Recent Decline in Oil Prices Could Have an Impact on the Company's Financial Condition and Results of Operations Oil prices have declined considerably in the first nine 2020. September 30, 2020. The Company’s participation in the SBA PPP loan program exposes it to risks of noncompliance with the PPP and litigation, which could have a material adverse impact on the Company’s business, financial condition and results of operations. The Company is a participating lender in the PPP. The SBA guarantees 100% may |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Credit Loss, Financial Instrument [Policy Text Block] | FASB ASU 2016 13, Financial Instruments – Credit Losses (Topic 326 June 16, 2016. The Company adopted the ASU provisions on a modified retrospective basis on January 1, 2020. no The following table summarizes the impact of adoption of ASU 2016 13. January 1, 2020 Balance, Impact of As reported prior to adoption adoption of under of ASU 2016-13 ASU 2016-13 ASU 2016-13 (In thousands) Assets: Allowance for credit losses on loans: Commercial $ 4,959 $ 3,385 $ 8,344 Commercial real estate 4,064 618 4,682 Construction 109 (31 ) 78 Residential real estate 206 (132 ) 74 Consumer and other installment loans 6,445 1,878 8,323 Unallocated 3,701 (3,701 ) - Allowance for credit losses on loans: $ 19,484 $ 2,017 $ 21,501 Allowance for credit losses on debt securities held to maturity - 16 16 Liabilities Allowance for credit losses for unfunded commitments 2,160 (2,107 ) 53 |
Marketable Securities, Policy [Policy Text Block] | Debt Securities. Debt securities consist of the U.S. Treasury, securities of government sponsored entities, states, counties, municipalities, corporations, agency and non-agency mortgage-backed securities, and collateralized loan obligations. Securities transactions are recorded on a trade date basis. The Company classifies its debt securities in one three not not The Company utilizes third 1 2 third one third third not 3 The Company follows the guidance issued by the Board of Governors of the Federal Reserve System, “Investing in Securities without Reliance on Nationally Recognized Statistical Rating Agencies” (SR 12 15 To the extent that debt securities in the held-to-maturity portfolio share common risk characteristics, estimated expected credit losses are calculated in a manner like that used for loans held for investment. That is, for pools of such securities with common risk characteristics, the historical lifetime probability of default and severity of loss in the event of default is derived or obtained from external sources and adjusted for the expected effects of reasonable and supportable forecasts over the expected lives of the securities on those historical credit losses. Expected credit loss on each security in the held-to-maturity portfolio that do not may not AFS debt securities in unrealized loss positions are evaluated for credit related loss at least quarterly. For AFS debt securities, a decline in fair value due to credit loss results in recording an allowance for credit losses to the extent the fair value is less than the amortized cost basis. Declines in fair value that have not not not not If the Company intends to sell a debt security or more likely than not Purchase premiums are amortized to the earliest call date and purchase discounts are amortized to maturity as an adjustment to yield using the effective interest method. Unamortized premiums, unaccreted discounts, and early payment premiums are recognized as a component of gain or loss on sale upon disposition of the related security. Interest and dividend income are recognized when earned. Realized gains and losses from the sale of available for sale securities are included in earnings using the specific identification method. |
Cost Method Investments, Policy [Policy Text Block] | Nonmarketable Equity Securities. Nonmarketable equity securities include securities that are not |
Financing Receivable [Policy Text Block] | Loans. Loans are stated at the principal amount outstanding, net of unearned discount and unamortized deferred fees and costs. Interest is accrued daily on the outstanding principal balances and included in other assets. Loans which are more than 90 none 120 A troubled debt restructuring (“TDR”) occurs when the Company, for reasons related to a borrower’s financial difficulties, grants a concession to the borrower it would not may not 1 2 not 30 December 31, 2019; 3 March 1, 2020, 60 December 31, 2020. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Credit Losses. The Company extends loans to commercial and consumer customers primarily in Northern and Central California. These lending activities expose the Company to the risk borrowers will default, causing loan losses. The Company’s lending activities are exposed to various qualitative risks. All loan segments are exposed to risks inherent in the economy and market conditions. Significant risk characteristics related to the commercial loan segment include the borrowers’ business performance and financial condition, and the value of collateral for secured loans. Significant risk characteristics related to the commercial real estate segment include the borrowers’ business performance and the value of properties collateralizing the loans. Significant risk characteristics related to the construction loan segment include the borrowers’ performance in successfully developing the real estate into the intended purpose and the value of the property collateralizing the loans. Significant risk characteristics related to the residential real estate segment include the borrowers’ financial wherewithal to service the mortgages and the value of the property collateralizing the loans. Significant risk characteristics related to the consumer loan segment include the financial condition of the borrowers and the value of collateral securing the loans. The preparation of these financial statements requires Management to estimate the amount of expected losses over the expected contractual life of our existing loan portfolio and establish an allowance for credit losses. Loan agreements generally include a maturity date, and the Company considers the contractual life of a loan agreement to extend from the date of origination to the contractual maturity date. In estimating credit losses, Management must exercise significant judgment in evaluating information deemed relevant. The amount of ultimate losses on the loan portfolio can vary from the estimated amounts. Management follows a systematic methodology to estimate loss potential in an effort to reduce the differences between estimated and actual losses. The allowance for credit losses is established through provisions for credit losses charged to income. Losses on loans are charged to the allowance for credit losses when all or a portion of the recorded amount of a loan is deemed to be uncollectible. Recoveries of loans previously charged off are credited to the allowance when realized. The Company’s allowance for credit losses is maintained at a level considered adequate to provide for expected losses based on historical loss rates adjusted for current and expected conditions over a forecast period. These include conditions unique to individual borrowers, as well as overall credit loss experience, the amount of past due, nonperforming and classified loans, recommendations of regulatory authorities, prevailing economic conditions, or credit protection agreements and other factors. Loans that share common risk characteristics are segregated into pools based on common characteristics, which is primarily determined by loan, borrower, or collateral type. Historical loss rates are determined for each pool. For consumer installment loans, primarily secured by automobiles, historical loss rates are determined using a vintage methodology, which tracks losses based on period of origination. For commercial, construction, and commercial real estate, historical loss rates are determined using an open pool methodology where losses are tracked over time for all loans included in the pool at the historical measurement date. Historical loss rates are adjusted for factors that are not not two not not two Loans that do not not Accrued interest is recorded in other assets and is excluded from the estimation of expected credit loss. Accrued interest is reversed through interest income when amounts are determined to be uncollectible, which generally occurs when the underlying receivable is placed on nonaccrual status or charged off. |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Liability for Off-Balance Sheet Credit Exposures. Off-balance sheet credit exposures relate to letters of credit and unfunded loan commitments for commercial, construction and consumer loans. The Company maintains a separate allowance for credit losses from off-balance-sheet credit exposures, which is included within other liabilities on the consolidated statements of financial condition. Increases or reductions to the Company’s allowance for credit losses from off-balance sheet credit exposures are recorded in other expenses. Management estimates the amount of expected losses by estimating expected usage exposures that are not No may |
Currently Adopted Accounting Pronouncements [Policy Text Block] | FASB ASU 2018 13 Fair Value Measurements (Topic 820 August 2018. The provisions of the ASU were effective January 1, 2020 January 1, 2020. not |
New Accounting Pronouncements, Policy [Policy Text Block] | FASB ASU 2020 04 Reference Rate Reform (Topic 848 March 2020. no not 2020 04 2020 04 March 12, 2020 December 31, 2022. may 2020 04 January 1, 2020, March 12, 2020, not |
Note 2 - Accounting Policies (T
Note 2 - Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | January 1, 2020 Balance, Impact of As reported prior to adoption adoption of under of ASU 2016-13 ASU 2016-13 ASU 2016-13 (In thousands) Assets: Allowance for credit losses on loans: Commercial $ 4,959 $ 3,385 $ 8,344 Commercial real estate 4,064 618 4,682 Construction 109 (31 ) 78 Residential real estate 206 (132 ) 74 Consumer and other installment loans 6,445 1,878 8,323 Unallocated 3,701 (3,701 ) - Allowance for credit losses on loans: $ 19,484 $ 2,017 $ 21,501 Allowance for credit losses on debt securities held to maturity - 16 16 Liabilities Allowance for credit losses for unfunded commitments 2,160 (2,107 ) 53 |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Debt Securities, Available-for-sale and Held-to-maturity [Table Text Block] | At September 30, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale Agency residential mortgage-backed securities ("MBS") $ 720,123 $ 25,174 $ - $ 745,297 Agency commercial MBS 3,601 - (16 ) 3,585 Securities of U.S. Government entities 163 - - 163 Obligations of states and political subdivisions 121,951 5,223 (2 ) 127,172 Corporate securities 2,098,444 114,582 (199 ) 2,212,827 Commercial paper 224,862 29 (75 ) 224,816 Collateralized loan obligations 667,735 3,053 (654 ) 670,134 Total debt securities available for sale 3,836,879 148,061 (946 ) 3,983,994 Debt securities held to maturity Agency residential MBS 272,460 7,648 (39 ) 280,069 Non-agency residential MBS 2,020 36 - 2,056 Obligations of states and political subdivisions 303,331 8,261 - 311,592 Total debt securities held to maturity 577,811 15,945 (39 ) 593,717 Total $ 4,414,690 $ 164,006 $ (985 ) $ 4,577,711 At December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale U.S. Treasury securities $ 19,999 $ 1 $ - $ 20,000 Securities of U.S. Government sponsored entities 111,251 14 (98 ) 111,167 Agency residential MBS 934,592 10,996 (5,838 ) 939,750 Agency commercial MBS 3,711 - (3 ) 3,708 Securities of U.S. Government entities 553 - (9 ) 544 Obligations of states and political subdivisions 159,527 3,656 (44 ) 163,139 Corporate securities 1,805,479 29,183 (879 ) 1,833,783 Collateralized loan obligations 6,748 7 - 6,755 Total debt securities available for sale 3,041,860 43,857 (6,871 ) 3,078,846 Debt securities held to maturity Agency residential MBS 353,937 766 (2,235 ) 352,468 Non-agency residential MBS 2,354 22 - 2,376 Obligations of states and political subdivisions 381,781 7,672 (1 ) 389,452 Total debt securities held to maturity 738,072 8,460 (2,236 ) 744,296 Total $ 3,779,932 $ 52,317 $ (9,107 ) $ 3,823,142 |
Investments Classified by Contractual Maturity Date [Table Text Block] | At September 30, 2020 Debt Securities Available Debt Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 452,154 $ 454,493 $ 63,044 $ 63,504 Over 1 to 5 years 973,305 1,026,667 132,750 136,640 Over 5 to 10 years 1,480,374 1,544,476 107,537 111,448 Over 10 years 207,322 209,476 - - Subtotal 3,113,155 3,235,112 303,331 311,592 MBS 723,724 748,882 274,480 282,125 Total $ 3,836,879 $ 3,983,994 $ 577,811 $ 593,717 At December 31, 2019 Debt Securities Available Debt Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 294,698 $ 295,255 $ 70,378 $ 70,602 Over 1 to 5 years 1,104,775 1,122,391 161,911 165,126 Over 5 to 10 years 670,595 683,277 149,492 153,724 Over 10 years 33,489 34,465 - - Subtotal 2,103,557 2,135,388 381,781 389,452 MBS 938,303 943,458 356,291 354,844 Total $ 3,041,860 $ 3,078,846 $ 738,072 $ 744,296 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Debt Securities Available for Sale At September 30, 2020 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Agency residential MBS 1 $ 98 $ - 1 $ 21 $ - 2 $ 119 $ - Agency commercial MBS 1 3,585 (16 ) - - - 1 3,585 (16 ) Securities of U.S. Government entities 1 163 - - - - 1 163 - Obligations of states and political subdivisions 5 2,447 (2 ) - - - 5 2,447 (2 ) Corporate securities - - - 2 18,263 (199 ) 2 18,263 (199 ) Commercial paper 4 99,874 (75 ) - - - 4 99,874 (75 ) Collateralized loan obligations 29 216,358 (654 ) - - - 29 216,358 (654 ) Total 41 $ 322,525 $ (747 ) 3 $ 18,284 $ (199 ) 44 $ 340,809 $ (946 ) Debt Securities Held to Maturity At September 30, 2020 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Agency residential MBS 2 $ 153 $ (1 ) 3 $ 1,109 $ (38 ) 5 $ 1,262 $ (39 ) Debt Securities Available for Sale At December 31, 2019 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 1 $ 9,951 $ (49 ) 3 $ 45,877 $ (49 ) 4 $ 55,828 $ (98 ) Agency residential MBS 6 11,674 (100 ) 47 347,384 (5,738 ) 53 359,058 (5,838 ) Agency commercial MBS 1 3,708 (3 ) - - - 1 3,708 (3 ) Securities of U.S. Government entities - - - 2 544 (9 ) 2 544 (9 ) Obligations of states and political subdivisions - - - 7 4,163 (44 ) 7 4,163 (44 ) Corporate securities 8 71,577 (162 ) 11 64,380 (717 ) 19 135,957 (879 ) Total 16 $ 96,910 $ (314 ) 70 $ 462,348 $ (6,557 ) 86 $ 559,258 $ (6,871 ) Debt Securities Held to Maturity At December 31, 2019 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Agency residential MBS 6 $ 12,098 $ (87 ) 54 $ 277,203 $ (2,148 ) 60 $ 289,301 $ (2,235 ) Obligations of states and political subdivisions - - - 1 251 (1 ) 1 251 (1 ) Total 6 $ 12,098 $ (87 ) 55 $ 277,454 $ (2,149 ) 61 $ 289,552 $ (2,236 ) |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block] | For the Nine Months Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance, prior to adoption of ASU 2016-13 $ - Impact of adopting ASU 2016-13 16 Provision - Chargeoffs - Recoveries - Total ending balance $ 16 |
Debt Securities, Held-to-maturity, Credit Quality Indicator [Table Text Block] | Credit Risk Profile by Credit Rating At September 30, 2020 (In thousands) AAA/AA/A BBB BB/B Total Agency residential MBS $ 272,460 $ - $ - $ 272,460 Non-agency residential MBS 1,005 - 1,015 2,020 Obligations of states and political subdivisions 303,230 101 - 303,331 Total $ 576,695 $ 101 $ 1,015 $ 577,811 |
Interest Income from Investments [Table Text Block] | For the Three Months For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Taxable $ 23,079 $ 19,586 $ 67,963 $ 56,992 Tax-exempt from federal income tax 2,911 3,777 9,501 12,165 Total interest income from investment securities $ 25,990 $ 23,363 $ 77,464 $ 69,157 |
Note 4 - Loans, Allowance for_2
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Loans Receivable [Table Text Block] | At September 30, At December 31, 2020 2019 (In thousands) Commercial: Paycheck Protection Program ("PPP") loans $ 243,982 $ - Other 201,623 222,085 Total commercial 445,605 222,085 Commercial Real Estate 563,707 578,758 Construction 140 1,618 Residential Real Estate 25,076 32,748 Consumer Installment & Other 275,481 291,455 Total $ 1,310,009 $ 1,126,664 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Allowance for Credit Losses For the Three Months Ended September 30, 2020 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Total (In thousands) Allowance for credit losses: Balance at beginning of period $ 8,072 $ 4,623 $ 7 $ 57 $ 11,770 $ 24,529 Provision (reversal) 867 1,030 - (5 ) (1,892 ) - Chargeoffs - - - - (872 ) (872 ) Recoveries 46 12 - - 427 485 Total allowance for credit losses $ 8,985 $ 5,665 $ 7 $ 52 $ 9,433 $ 24,142 Allowance for Credit Losses For the Nine Months Ended September 30, 2020 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for credit losses: Balance at beginning of period, prior to adoption of ASU 2016-13 $ 4,959 $ 4,064 $ 109 $ 206 $ 6,445 $ 3,701 $ 19,484 Impact of adopting ASU 2016-13 3,385 618 (31 ) (132 ) 1,878 (3,701 ) 2,017 Adjusted beginning balance 8,344 4,682 78 74 8,323 - 21,501 Provision (reversal) 537 946 (71 ) (22 ) 2,910 - 4,300 Chargeoffs (178 ) - - - (3,071 ) - (3,249 ) Recoveries 282 37 - - 1,271 - 1,590 Total allowance for credit losses $ 8,985 $ 5,665 $ 7 $ 52 $ 9,433 $ - $ 24,142 Allowance for Loan Losses For the Three Months Ended September 30, 2019 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 5,235 $ 4,057 $ 1,117 $ 238 $ 5,418 $ 4,052 $ 20,117 (Reversal) provision (596 ) (1 ) 482 (16 ) 655 (524 ) - Chargeoffs - - - - (1,039 ) - (1,039 ) Recoveries 233 12 - - 505 - 750 Total allowance for loan losses $ 4,872 $ 4,068 $ 1,599 $ 222 $ 5,539 $ 3,528 $ 19,828 Allowance for Loan Losses For the Nine Months Ended September 30, 2019 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 6,311 $ 3,884 $ 1,465 $ 869 $ 5,645 $ 3,177 $ 21,351 (Reversal) provision (1,817 ) 146 134 (647 ) 1,833 351 - Chargeoffs (71 ) - - - (3,332 ) - (3,403 ) Recoveries 449 38 - - 1,393 - 1,880 Total allowance for loan losses $ 4,872 $ 4,068 $ 1,599 $ 222 $ 5,539 $ 3,528 $ 19,828 |
Schedule of Recorded Investment in Loans Evaluated for Impairment [Table Text Block] | Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At December 31, 2019 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 2,413 $ - $ - $ - $ - $ - $ 2,413 Collectively evaluated for impairment 2,546 4,064 109 206 6,445 3,701 17,071 Total $ 4,959 $ 4,064 $ 109 $ 206 $ 6,445 $ 3,701 $ 19,484 Carrying value of loans: Individually evaluated for impairment $ 8,182 $ 7,409 $ - $ 190 $ 43 $ - $ 15,824 Collectively evaluated for impairment 213,903 571,349 1,618 32,558 291,412 - 1,110,840 Total $ 222,085 $ 578,758 $ 1,618 $ 32,748 $ 291,455 $ - $ 1,126,664 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Risk Profile by Internally Assigned Grade At September 30, 2020 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 437,216 $ 546,714 $ 140 $ 23,699 $ 274,251 $ 1,282,020 Substandard 8,389 16,993 - 1,377 320 27,079 Doubtful - - - - 505 505 Loss - - - - 405 405 Total $ 445,605 $ 563,707 $ 140 $ 25,076 $ 275,481 $ 1,310,009 Credit Risk Profile by Internally Assigned Grade At December 31, 2019 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 213,542 $ 567,525 $ 1,618 $ 31,055 $ 289,424 $ 1,103,164 Substandard 8,543 11,233 - 1,693 1,329 22,798 Doubtful - - - - 308 308 Loss - - - - 394 394 Total $ 222,085 $ 578,758 $ 1,618 $ 32,748 $ 291,455 $ 1,126,664 |
Financing Receivable, Past Due [Table Text Block] | Summary of Loans by Delinquency and Nonaccrual Status At September 30, 2020 Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 444,496 $ 963 $ 39 $ - $ 107 $ 445,605 Commercial real estate 559,361 624 - - 3,722 563,707 Construction 140 - - - - 140 Residential real estate 24,357 558 - - 161 25,076 Consumer installment and other 272,631 1,328 772 360 390 275,481 Total $ 1,300,985 $ 3,473 $ 811 $ 360 $ 4,380 $ 1,310,009 Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2019 Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 221,199 $ 531 $ 158 $ - $ 197 $ 222,085 Commercial real estate 573,809 432 421 - 4,096 578,758 Construction 1,618 - - - - 1,618 Residential real estate 31,934 274 540 - - 32,748 Consumer installment and other 286,391 2,960 1,517 440 147 291,455 Total $ 1,114,951 $ 4,197 $ 2,636 $ 440 $ 4,440 $ 1,126,664 |
Impaired Financing Receivables [Table Text Block] | Impaired Loans At December 31, 2019 Unpaid Recorded Principal Related Investment Balance Allowance (In thousands) With no related allowance recorded: Commercial $ 21 $ 21 $ - Commercial real estate 7,408 8,856 - Residential real estate 190 220 - Consumer installment and other 43 43 - Total with no related allowance recorded 7,662 9,140 - With an allowance recorded: Commercial 8,160 8,160 2,413 Total with an allowance recorded 8,160 8,160 2,413 Total $ 15,822 $ 17,300 $ 2,413 |
Impaired Financing Receivables Supplemental Schedule [Table Text Block] | Impaired Loans For the Three Months For the Nine Months Ended September 30, 2019 Average Recognized Average Recognized Recorded Interest Recorded Interest Investment Income Investment Income (In thousands) Commercial $ 8,701 $ 144 $ 9,404 $ 476 Commercial real estate 7,968 60 7,133 333 Residential real estate 194 4 196 10 Consumer installment and other 99 - 103 - Total $ 16,962 $ 208 $ 16,836 $ 819 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Troubled Debt Restructurings At September 30, 2020 Period-End Individual Number of Pre-Modification Period-End Credit Loss Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial real estate 6 $ 8,367 $ 6,121 $ - Residential real estate 1 241 183 - Total 7 $ 8,608 $ 6,304 $ - Troubled Debt Restructurings At December 31, 2019 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 2 $ 278 $ 32 $ 11 Commercial real estate 6 8,367 6,492 - Residential real estate 1 241 189 - Total 9 $ 8,886 $ 6,713 $ 11 |
Financing Receivable, Loans by Risk Category [Table Text Block] | At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Commercial loans by grade Pass $ 20,496 $ 5,205 $ 26,132 $ 10,860 $ 21,343 $ 42,380 $ 270,664 $ 397,080 $ 40,136 $ 437,216 Substandard 64 - 1 - - - 7,876 7,941 448 8,389 Doubtful - - - - - - - - - - Loss - - - - - - - - - - Total $ 20,560 $ 5,205 $ 26,133 $ 10,860 $ 21,343 $ 42,380 $ 278,540 $ 405,021 $ 40,584 $ 445,605 At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Commercial real estate loans by grade Pass $ 88,661 $ 50,764 $ 43,804 $ 101,731 $ 95,622 $ 94,531 $ 71,601 $ 546,714 $ - $ 546,714 Substandard 4,807 1,314 9,921 107 - - 844 16,993 - 16,993 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 93,468 $ 52,078 $ 53,725 $ 101,838 $ 95,622 $ 94,531 $ 72,445 $ 563,707 $ - $ 563,707 At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Construction loans by grade Pass $ - $ - $ - $ - $ - $ - $ - $ - $ 140 $ 140 Substandard - - - - - - - - - - Doubtful - - - - - - - - - - Loss - - - - - - - - - - Total $ - $ - $ - $ - $ - $ - $ - $ - $ 140 $ 140 At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Residential Real Estate loans by grade Pass $ 23,699 $ - $ - $ - $ - $ - $ - $ 23,699 $ - $ 23,699 Substandard 1,377 - - - - - - 1,377 - 1,377 Doubtful - - - - - - - - - - Loss - - - - - - - - - - Total $ 25,076 $ - $ - $ - $ - $ - $ - $ 25,076 $ - $ 25,076 At September 30, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2015 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Consumer installment and other loans by delinquency and nonaccrual status Current $ 5,087 $ 6,457 $ 19,339 $ 24,554 $ 53,347 $ 69,313 $ 64,893 $ 242,990 $ 29,641 $ 272,631 30-59 days past due 35 91 147 224 266 402 148 1,313 15 1,328 60-89 days past due 2 30 48 163 327 160 40 770 2 772 Past due 90 days or more - 5 29 - 226 66 31 357 3 360 Nonaccrual - - - - - - - - 390 390 Total $ 5,124 $ 6,583 $ 19,563 $ 24,941 $ 54,166 $ 69,941 $ 65,112 $ 245,430 $ 30,051 $ 275,481 |
Note 6 - Other Assets and Oth_2
Note 6 - Other Assets and Other Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | At September 30, At December 31, 2020 2019 (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,069 $ 14,069 Other investments 158 158 Total cost method equity investments 14,227 14,227 Life insurance cash surrender value 59,868 57,810 Net deferred tax asset - 11,085 Right-of-use asset 19,098 17,136 Limited partnership investments 18,935 20,773 Interest receivable 30,779 28,797 Prepaid assets 3,619 3,737 Other assets 13,743 10,767 Total other assets $ 160,269 $ 164,332 |
Schedule of Amounts Recognized in Net Income [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Investment loss included in pre-tax income $ 640 $ 600 $ 1,840 $ 1,800 Tax credits recognized in provision for income taxes 225 225 675 675 |
Other Liabilities [Table Text Block] | At September 30, At December 31, 2020 2019 (In thousands) Net deferred tax liability $ 21,819 $ - Operating lease liability 19,098 17,136 Other liabilities 49,559 27,453 Total other liabilities $ 90,476 $ 44,589 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Minimum At September 30, 2020 (In thousands) The remaining three months of 2020 $ 1,599 2021 5,353 2022 4,426 2023 3,689 2024 2,078 Thereafter 2,863 Total minimum lease payments 20,008 Less: discount (910 ) Present value of lease liability $ 19,098 |
Note 7 - Goodwill and Identif_2
Note 7 - Goodwill and Identifiable Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | At September 30, 2020 At December 31, 2019 (In thousands) Goodwill $ 121,673 $ 121,673 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At September 30, 2020 At December 31, 2019 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core deposit intangibles $ 56,808 $ (55,635 ) $ 56,808 $ (55,417 ) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Total Core Deposit Intangibles (In thousands) For the nine months ended September 30, 2020 (actual) $ 218 Estimate for the remainder of year ending December 31, 2020 69 Estimate for year ending December 31, 2021 269 2022 252 2023 236 2024 222 2025 125 |
Note 8 - Deposits and Borrowe_2
Note 8 - Deposits and Borrowed Funds (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | Deposits At September 30, At December 31, 2020 2019 (In thousands) Noninterest-bearing $ 2,684,028 $ 2,240,112 Interest-bearing: Transaction 1,040,712 931,888 Savings 1,653,000 1,471,284 Time deposits less than $100 thousand 83,838 88,355 Time deposits $100 thousand through $250 thousand 50,378 54,874 Time deposits more than $250 thousand 27,234 26,108 Total deposits $ 5,539,190 $ 4,812,621 |
Schedule of Repurchase Agreements [Table Text Block] | Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At September 30, At December 31, 2020 2019 Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ - $ 65,833 Agency residential MBS 76,715 52,485 Corporate securities 183,447 146,253 Total collateral carrying value $ 260,162 $ 264,571 Total short-term borrowed funds $ 107,973 $ 30,928 |
Note 9 - Fair Value Measureme_2
Note 9 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | At September 30, 2020 Fair Value Quoted Prices Significant Other Significant (1) (In thousands) Debt securities available for sale Agency residential mortgage-backed securities (MBS) $ 745,297 $ - $ 745,297 $ - Agency commercial MBS 3,585 - 3,585 - Securities of U.S. Government entities 163 - 163 - Obligations of states and political subdivisions 127,172 - 127,172 - Corporate securities 2,212,827 - 2,212,827 - Commercial paper 224,816 224,816 Collateralized loan obligations 670,134 - 670,134 - Total debt securities available for sale $ 3,983,994 $ - $ 3,983,994 $ - At December 31, 2019 Fair Value Quoted Prices Significant Other Significant (1) (In thousands) Debt securities available for sale U.S. Treasury securities $ 20,000 $ 20,000 $ - $ - Securities of U.S. Government sponsored entities 111,167 - 111,167 - Agency residential MBS 939,750 - 939,750 - Agency commercial MBS 3,708 - 3,708 - Securities of U.S. Government entities 544 - 544 - Obligations of states and political subdivisions 163,139 - 163,139 - Corporate securities 1,833,783 - 1,833,783 - Collateralized loan obligations 6,755 - 6,755 - Total debt securities available for sale $ 3,078,846 $ 20,000 $ 3,058,846 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | For the Nine Months Ended At September 30, 2020 September 30, 2020 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 43 $ - $ - $ 43 $ - Loans: Commercial 5,354 - - 5,354 - Commercial real estate 3,773 - - 3,773 - Residential real estate 183 - - 183 - Total assets measured at fair value on a nonrecurring basis $ 9,353 $ - $ - $ 9,353 $ - For the Twelve Months Ended At December 31, 2019 December 31, 2019 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 43 $ - $ - $ 43 $ - Impaired loans: Commercial 5,747 - - 5,747 - Commercial real estate 4,091 - - 4,091 - Residential real estate 190 - - 190 - Total assets measured at fair value on a nonrecurring basis $ 10,071 $ - $ - $ 10,071 $ - |
Fair Value, by Balance Sheet Grouping [Table Text Block] | At September 30, 2020 Carrying Estimated Quoted Prices Significant Other Significant Financial Assets: (In thousands) Cash and due from banks $ 398,964 $ 398,964 $ 398,964 $ - $ - Debt securities held to maturity 577,795 593,701 - 593,701 - Loans 1,285,867 1,347,245 - - 1,347,245 Financial Liabilities: Deposits $ 5,539,190 $ 5,539,300 $ - $ 5,377,740 $ 161,560 Short-term borrowed funds 107,973 107,973 - 107,973 - At December 31, 2019 Carrying Estimated Quoted Prices Significant Other Significant Financial Assets: (In thousands) Cash and due from banks $ 373,421 $ 373,421 $ 373,421 $ - $ - Debt securities held to maturity 738,072 744,296 - 744,296 - Loans 1,107,180 1,152,949 - - 1,152,949 Financial Liabilities: Deposits $ 4,812,621 $ 4,810,934 $ - $ 4,643,284 $ 167,650 Short-term borrowed funds 30,928 30,928 - 30,928 - |
Note 11 - Earnings Per Common_2
Note 11 - Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 20,051 $ 20,390 $ 56,575 $ 59,661 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 26,930 26,986 26,977 26,924 Basic earnings per common share $ 0.74 $ 0.76 $ 2.10 $ 2.22 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,930 26,986 26,977 26,924 Add common stock equivalents for options 16 41 21 52 Weighted average number of common shares outstanding - diluted (denominator) 26,946 27,027 26,998 26,976 Diluted earnings per common share $ 0.74 $ 0.75 $ 2.10 $ 2.21 |
Note 2 - Accounting Policies (D
Note 2 - Accounting Policies (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Loans and Leases Receivable, Allowance, Ending Balance | $ 24,142 | $ 24,529 | $ 19,484 | $ 19,828 | $ 20,117 | $ 21,351 | |
Reserve for Unfunded Commitments | $ 2,160 | ||||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ 254,717 | $ 239,135 | |||||
Accounting Standards Update 2016-13 [Member] | |||||||
Loans and Leases Receivable, Allowance, Ending Balance | 2,017 | ||||||
Retained Earnings (Accumulated Deficit), Ending Balance | 52 | ||||||
Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | |||||||
Reserve for Unfunded Commitments | $ (2,107) |
Note 2 - Accounting Policies -
Note 2 - Accounting Policies - Impact of Adoption of ASU 2016-13 (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
Allowance for credit losses (loans) | $ 19,484 | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | $ 16 | 0 | $ 0 |
Allowance for credit losses for unfunded commitments | 2,160 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Allowance for credit losses (loans) | 2,017 | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | 16 | ||
Allowance for credit losses for unfunded commitments | (2,107) | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Allowance for credit losses (loans) | 21,501 | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | $ 16 | 16 | |
Allowance for credit losses for unfunded commitments | 53 | ||
Commercial Portfolio Segment [Member] | |||
Allowance for credit losses (loans) | 4,959 | ||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Allowance for credit losses (loans) | 3,385 | ||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Allowance for credit losses (loans) | 8,344 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Allowance for credit losses (loans) | 4,064 | ||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Allowance for credit losses (loans) | 618 | ||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Allowance for credit losses (loans) | 4,682 | ||
Construction Portfolio Segment [Member] | |||
Allowance for credit losses (loans) | 109 | ||
Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Allowance for credit losses (loans) | (31) | ||
Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Allowance for credit losses (loans) | 78 | ||
Residential Portfolio Segment [Member] | |||
Allowance for credit losses (loans) | 206 | ||
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Allowance for credit losses (loans) | (132) | ||
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Allowance for credit losses (loans) | 74 | ||
Consumer Portfolio Segment [Member] | |||
Allowance for credit losses (loans) | 6,445 | ||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Allowance for credit losses (loans) | 1,878 | ||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Allowance for credit losses (loans) | 8,323 | ||
Unallocated Financing Receivables [Member] | |||
Allowance for credit losses (loans) | 3,701 | ||
Unallocated Financing Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Allowance for credit losses (loans) | (3,701) | ||
Unallocated Financing Receivables [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Allowance for credit losses (loans) | $ 0 |
Note 3 - Investment Securitie_2
Note 3 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Unrealized Gain (Loss) on Securities | $ 50 | ||
Equity Securities, FV-NI | 0 | $ 0 | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | 16 | $ 0 | 0 |
High Risk Collateralized Mortgage Obligations | 0 | 0 | |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | 0 | ||
Pledged Financial Instruments, Not Separately Reported, Securities, Total | 850,245 | 760,365 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | 3,836,879 | 3,041,860 | |
Debt Securities, Available-for-sale, Total | 3,983,994 | 3,078,846 | |
Debt Securities, Held-to-maturity, Nonaccrual | 0 | ||
Debt Security, Corporate, US [Member] | |||
Debt Securities, Available-for-sale, Amortized Cost, Total | 2,098,444 | 1,805,479 | |
Debt Securities, Available-for-sale, Total | 2,212,827 | $ 1,833,783 | |
Debt Security, Corporate, US [Member] | External Credit Rating, Non Investment Grade [Member] | |||
Debt Securities, Available-for-sale, Amortized Cost, Total | 15,000 | ||
Debt Securities, Available-for-sale, Total | 14,900 | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | $ 16 | $ 16 |
Note 3 - Investment Securitie_3
Note 3 - Investment Securities - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Investment Securities Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Debt securities available for sale, amortized cost | $ 3,836,879 | $ 3,041,860 |
Debt securities available for sale, gross unrealized gains | 148,061 | 43,857 |
Debt securities available for sale, gross unrealized losses | (946) | (6,871) |
Debt securities available for sale | 3,983,994 | 3,078,846 |
Held to maturity | 577,811 | 738,072 |
Debt securities held to maturity, gross unrecognized gains | 15,945 | 8,460 |
Debt securities held to maturity, gross unrecognized losses | (39) | (2,236) |
Debt securities held to maturity, fair value | 593,717 | 744,296 |
Debt securities, amortized cost | 4,414,690 | 3,779,932 |
Debt securities, gross unrecognized gains | 164,006 | 52,317 |
Debt securities, gross unrecognized losses | (985) | (9,107) |
Debt securities, fair value | 4,577,711 | 3,823,142 |
Agency Residential MBS [Member] | ||
Debt securities available for sale, amortized cost | 720,123 | 934,592 |
Debt securities available for sale, gross unrealized gains | 25,174 | 10,996 |
Debt securities available for sale, gross unrealized losses | 0 | (5,838) |
Debt securities available for sale | 745,297 | 939,750 |
Held to maturity | 272,460 | 353,937 |
Debt securities held to maturity, gross unrecognized gains | 7,648 | 766 |
Debt securities held to maturity, gross unrecognized losses | (39) | (2,235) |
Debt securities held to maturity, fair value | 280,069 | 352,468 |
US Treasury Securities [Member] | ||
Debt securities available for sale, amortized cost | 19,999 | |
Debt securities available for sale, gross unrealized gains | 1 | |
Debt securities available for sale, gross unrealized losses | 0 | |
Debt securities available for sale | 20,000 | |
Agency Commercial MBS [Member] | ||
Debt securities available for sale, amortized cost | 3,601 | 3,711 |
Debt securities available for sale, gross unrealized gains | 0 | 0 |
Debt securities available for sale, gross unrealized losses | (16) | (3) |
Debt securities available for sale | 3,585 | 3,708 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 111,251 | |
Debt securities available for sale, gross unrealized gains | 14 | |
Debt securities available for sale, gross unrealized losses | (98) | |
Debt securities available for sale | 111,167 | |
US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 163 | 553 |
Debt securities available for sale, gross unrealized gains | 0 | 0 |
Debt securities available for sale, gross unrealized losses | 0 | (9) |
Debt securities available for sale | 163 | 544 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 121,951 | 159,527 |
Debt securities available for sale, gross unrealized gains | 5,223 | 3,656 |
Debt securities available for sale, gross unrealized losses | (2) | (44) |
Debt securities available for sale | 127,172 | 163,139 |
Held to maturity | 303,331 | 381,781 |
Debt securities held to maturity, gross unrecognized gains | 8,261 | 7,672 |
Debt securities held to maturity, gross unrecognized losses | 0 | (1) |
Debt securities held to maturity, fair value | 311,592 | 389,452 |
Debt Security, Corporate, US [Member] | ||
Debt securities available for sale, amortized cost | 2,098,444 | 1,805,479 |
Debt securities available for sale, gross unrealized gains | 114,582 | 29,183 |
Debt securities available for sale, gross unrealized losses | (199) | (879) |
Debt securities available for sale | 2,212,827 | 1,833,783 |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Debt securities available for sale, amortized cost | 224,862 | |
Debt securities available for sale, gross unrealized gains | 29 | |
Debt securities available for sale, gross unrealized losses | (75) | |
Debt securities available for sale | 224,816 | |
Collateralized Debt Obligations [Member] | ||
Debt securities available for sale, amortized cost | 667,735 | 6,748 |
Debt securities available for sale, gross unrealized gains | 3,053 | 7 |
Debt securities available for sale, gross unrealized losses | (654) | 0 |
Debt securities available for sale | 670,134 | 6,755 |
Non-agency Residential MBS [Member] | ||
Held to maturity | 2,020 | 2,354 |
Debt securities held to maturity, gross unrecognized gains | 36 | 22 |
Debt securities held to maturity, gross unrecognized losses | 0 | 0 |
Debt securities held to maturity, fair value | $ 2,056 | $ 2,376 |
Note 3 - Investment Securitie_4
Note 3 - Investment Securities - Amortized Cost and Estimated Market Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Investment securities available for sale, amortized cost, 1 year or less | $ 452,154 | $ 294,698 |
Investment securities available for sale, fair value, 1 year or less | 454,493 | 295,255 |
Investment securities held to maturity, amortized cost, 1 year or less | 63,044 | 70,378 |
Investment securities held to maturity, fair value, 1 year or less | 63,504 | 70,602 |
Investment securities available for sale, amortized cost, over 1 to 5 years | 973,305 | 1,104,775 |
Investment securities available for sale, fair value, over 1 to 5 years | 1,026,667 | 1,122,391 |
Investment securities held to maturity, amortized cost, over 1 to 5 years | 132,750 | 161,911 |
Investment securities held to maturity, fair value, over 1 to 5 years | 136,640 | 165,126 |
Investment securities available for sale, amortized cost, over 5 to 10 years | 1,480,374 | 670,595 |
Investment securities available for sale, fair value, over 5 to 10 years | 1,544,476 | 683,277 |
Investment securities held to maturity, amortized cost, over 5 to 10 years | 107,537 | 149,492 |
Investment securities held to maturity, fair value, over 5 to 10 years | 111,448 | 153,724 |
Investment securities available for sale, amortized cost, over 10 years | 207,322 | 33,489 |
Investment securities available for sale, fair value, over 10 years | 209,476 | 34,465 |
Investment securities held to maturity, amortized cost, over 10 years | 0 | 0 |
Investment securities held to maturity, fair value, over 10 years | 0 | 0 |
Investment securities available for sale, amortized cost, subtotal | 3,113,155 | 2,103,557 |
Investment securities available for sale, fair value, subtotal | 3,235,112 | 2,135,388 |
Investment securities held to maturity, amortized cost, subtotal | 303,331 | 381,781 |
Investment securities held to maturity, fair value, subtotal | 311,592 | 389,452 |
Investment securities available for sale, amortized cost | 723,724 | 938,303 |
Investment securities available for sale, fair value | 748,882 | 943,458 |
Investment securities held to maturity, amortized cost | 274,480 | 356,291 |
Investment securities held to maturity, fair value | 282,125 | 354,844 |
Investment securities available for sale, amortized cost | 3,836,879 | 3,041,860 |
Investment securities available for sale, fair value | 3,983,994 | 3,078,846 |
Investment securities held to maturity, amortized cost | 577,811 | 738,072 |
Investment securities held to maturity, fair value | $ 593,717 | $ 744,296 |
Note 3 - Investment Securitie_5
Note 3 - Investment Securities - Gross Unrealized Losses, Investment Securities Portfolio (Details) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Available for sale securities, less than 12 months, number of investment positions | 41 | 16 |
Available for sale securities, less than 12 months, fair value | $ 322,525 | $ 96,910 |
Available for sale securities, less than 12 months, unrealized losses | $ (747) | $ (314) |
Available for sale securities, 12 months or longer, number of investment positions | 3 | 70 |
Available for sale securities, 12 months or longer, fair value | $ 18,284 | $ 462,348 |
Available for sale securities, 12 months or longer, unrealized losses | $ (199) | $ (6,557) |
Available for sale securities, total, number of investment positions | 44 | 86 |
Available for sale securities, total, fair value | $ 340,809 | $ 559,258 |
Available for sale securities, total, unrealized losses | $ (946) | $ (6,871) |
Held to Maturity securities, less than 12 months, number of investment positions | 6 | |
Held to Maturity securities, less than 12 months, fair value | $ 12,098 | |
Held to Maturity securities, less than 12 months, unrecognized losses | $ (87) | |
Held to Maturity securities, 12 months or longer, number of investment positions | 55 | |
Held to Maturity securities, 12 months or longer, fair value | $ 277,454 | |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (2,149) | |
Held to Maturity securities, total, number of investment positions | 61 | |
Held to Maturity securities, total, fair value | $ 289,552 | |
Held to Maturity securities, total, unrecognized losses | $ (2,236) | |
Agency Residential MBS [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | 6 |
Available for sale securities, less than 12 months, fair value | $ 98 | $ 11,674 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ (100) |
Available for sale securities, 12 months or longer, number of investment positions | 1 | 47 |
Available for sale securities, 12 months or longer, fair value | $ 21 | $ 347,384 |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | $ (5,738) |
Available for sale securities, total, number of investment positions | 2 | 53 |
Available for sale securities, total, fair value | $ 119 | $ 359,058 |
Available for sale securities, total, unrealized losses | $ 0 | $ (5,838) |
Held to Maturity securities, less than 12 months, number of investment positions | 2 | 6 |
Held to Maturity securities, less than 12 months, fair value | $ 153 | $ 12,098 |
Held to Maturity securities, less than 12 months, unrecognized losses | $ (1) | $ (87) |
Held to Maturity securities, 12 months or longer, number of investment positions | 3 | 54 |
Held to Maturity securities, 12 months or longer, fair value | $ 1,109 | $ 277,203 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (38) | $ (2,148) |
Held to Maturity securities, total, number of investment positions | 5 | 60 |
Held to Maturity securities, total, fair value | $ 1,262 | $ 289,301 |
Held to Maturity securities, total, unrecognized losses | $ (39) | $ (2,235) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | |
Available for sale securities, less than 12 months, fair value | $ 9,951 | |
Available for sale securities, less than 12 months, unrealized losses | $ (49) | |
Available for sale securities, 12 months or longer, number of investment positions | 3 | |
Available for sale securities, 12 months or longer, fair value | $ 45,877 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (49) | |
Available for sale securities, total, number of investment positions | 4 | |
Available for sale securities, total, fair value | $ 55,828 | |
Available for sale securities, total, unrealized losses | $ (98) | |
Agency Commercial MBS [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | 1 |
Available for sale securities, less than 12 months, fair value | $ 3,585 | $ 3,708 |
Available for sale securities, less than 12 months, unrealized losses | $ (16) | $ (3) |
Available for sale securities, 12 months or longer, number of investment positions | 0 | 0 |
Available for sale securities, 12 months or longer, fair value | $ 0 | $ 0 |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | $ 0 |
Available for sale securities, total, number of investment positions | 1 | 1 |
Available for sale securities, total, fair value | $ 3,585 | $ 3,708 |
Available for sale securities, total, unrealized losses | $ (16) | $ (3) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 5 | 0 |
Available for sale securities, less than 12 months, fair value | $ 2,447 | $ 0 |
Available for sale securities, less than 12 months, unrealized losses | $ (2) | $ 0 |
Available for sale securities, 12 months or longer, number of investment positions | 0 | 7 |
Available for sale securities, 12 months or longer, fair value | $ 0 | $ 4,163 |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | $ (44) |
Available for sale securities, total, number of investment positions | 5 | 7 |
Available for sale securities, total, fair value | $ 2,447 | $ 4,163 |
Available for sale securities, total, unrealized losses | $ (2) | $ (44) |
Held to Maturity securities, less than 12 months, number of investment positions | 0 | |
Held to Maturity securities, less than 12 months, fair value | $ 0 | |
Held to Maturity securities, less than 12 months, unrecognized losses | $ 0 | |
Held to Maturity securities, 12 months or longer, number of investment positions | 1 | |
Held to Maturity securities, 12 months or longer, fair value | $ 251 | |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (1) | |
Held to Maturity securities, total, number of investment positions | 1 | |
Held to Maturity securities, total, fair value | $ 251 | |
Held to Maturity securities, total, unrecognized losses | $ (1) | |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | 0 |
Available for sale securities, less than 12 months, fair value | $ 163 | $ 0 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ 0 |
Available for sale securities, 12 months or longer, number of investment positions | 0 | 2 |
Available for sale securities, 12 months or longer, fair value | $ 0 | $ 544 |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | $ (9) |
Available for sale securities, total, number of investment positions | 1 | 2 |
Available for sale securities, total, fair value | $ 163 | $ 544 |
Available for sale securities, total, unrealized losses | $ 0 | $ (9) |
Debt Security, Corporate, US [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 0 | 8 |
Available for sale securities, less than 12 months, fair value | $ 0 | $ 71,577 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ (162) |
Available for sale securities, 12 months or longer, number of investment positions | 2 | 11 |
Available for sale securities, 12 months or longer, fair value | $ 18,263 | $ 64,380 |
Available for sale securities, 12 months or longer, unrealized losses | $ (199) | $ (717) |
Available for sale securities, total, number of investment positions | 2 | 19 |
Available for sale securities, total, fair value | $ 18,263 | $ 135,957 |
Available for sale securities, total, unrealized losses | $ (199) | $ (879) |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 4 | |
Available for sale securities, less than 12 months, fair value | $ 99,874 | |
Available for sale securities, less than 12 months, unrealized losses | $ (75) | |
Available for sale securities, 12 months or longer, number of investment positions | 0 | |
Available for sale securities, 12 months or longer, fair value | $ 0 | |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | |
Available for sale securities, total, number of investment positions | 4 | |
Available for sale securities, total, fair value | $ 99,874 | |
Available for sale securities, total, unrealized losses | $ (75) | |
Collateralized Loan Obligations [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 29 | |
Available for sale securities, less than 12 months, fair value | $ 216,358 | |
Available for sale securities, less than 12 months, unrealized losses | $ (654) | |
Available for sale securities, 12 months or longer, number of investment positions | 0 | |
Available for sale securities, 12 months or longer, fair value | $ 0 | |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | |
Available for sale securities, total, number of investment positions | 29 | |
Available for sale securities, total, fair value | $ 216,358 | |
Available for sale securities, total, unrealized losses | $ (654) |
Note 3 - Investment Securitie_6
Note 3 - Investment Securities - Allowance for Credit Losses (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Beginning balance, prior to adoption of ASU 2016-13 | $ 0 |
Impact of adopting ASU 2016-13 | 16 |
Provision | 0 |
Chargeoffs | 0 |
Recoveries | 0 |
Total ending balance | 16 |
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |
Total ending balance | $ 16 |
Note 3 - Investment Securitie_7
Note 3 - Investment Securities - Credit Quality (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Held to maturity | $ 577,811 | $ 738,072 |
AAA/AA/A [Member] | ||
Held to maturity | 576,695 | |
BBB [Member] | ||
Held to maturity | 101 | |
BB/B [Member] | ||
Held to maturity | 1,015 | |
Agency Residential MBS [Member] | ||
Held to maturity | 272,460 | 353,937 |
Agency Residential MBS [Member] | AAA/AA/A [Member] | ||
Held to maturity | 272,460 | |
Agency Residential MBS [Member] | BBB [Member] | ||
Held to maturity | 0 | |
Agency Residential MBS [Member] | BB/B [Member] | ||
Held to maturity | 0 | |
Non-agency Residential MBS [Member] | ||
Held to maturity | 2,020 | 2,354 |
Non-agency Residential MBS [Member] | AAA/AA/A [Member] | ||
Held to maturity | 1,005 | |
Non-agency Residential MBS [Member] | BBB [Member] | ||
Held to maturity | 0 | |
Non-agency Residential MBS [Member] | BB/B [Member] | ||
Held to maturity | 1,015 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Held to maturity | 303,331 | $ 381,781 |
US States and Political Subdivisions Debt Securities [Member] | AAA/AA/A [Member] | ||
Held to maturity | 303,230 | |
US States and Political Subdivisions Debt Securities [Member] | BBB [Member] | ||
Held to maturity | 101 | |
US States and Political Subdivisions Debt Securities [Member] | BB/B [Member] | ||
Held to maturity | $ 0 |
Note 3 - Investment Securitie_8
Note 3 - Investment Securities - Interest Income From Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Taxable | $ 23,079 | $ 19,586 | $ 67,963 | $ 56,992 |
Tax-exempt from federal income tax | 2,911 | 3,777 | 9,501 | 12,165 |
Total interest income from investment securities | $ 25,990 | $ 23,363 | $ 77,464 | $ 69,157 |
Note 4 - Loans, Allowance for_3
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Loans and Leases Receivable, Allowance, Ending Balance | $ 24,142 | $ 19,828 | $ 24,142 | $ 19,828 | $ 24,529 | $ 19,484 | $ 20,117 | $ 21,351 |
Loans and Leases Receivable, Nonaccrual, Commitment to Lend | 0 | 0 | 0 | |||||
Financing Receivable, Troubled Debt Restructuring | $ 6,304 | $ 6,304 | 6,713 | |||||
Troubled Debt Restructurings During Period | 0 | 0 | 0 | 0 | ||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Held-for-Sale | $ 0 | $ 0 | 0 | |||||
Other Real Estate, Ending Balance | 43 | 43 | 43 | |||||
Other Real Estate, Reserve | 0 | 0 | 0 | |||||
Mortgage Loans in Process of Foreclosure, Amount | 410 | 410 | 124 | |||||
Residential Real Estate Included in OREO [Member] | ||||||||
Real Estate Acquired Through Foreclosure | 0 | 0 | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||
Loans and Leases Receivable, Allowance, Ending Balance | 5,665 | $ 4,068 | 5,665 | $ 4,068 | 4,623 | 4,064 | 4,057 | 3,884 |
Financing Receivable, Troubled Debt Restructuring | 6,121 | 6,121 | 6,492 | |||||
Allowance for Credit Losses, Collateral-dependent Loans | $ 0 | $ 0 | ||||||
Number of Collateral-dependent Loans | 1 | 1 | ||||||
Collateral-dependent Loans, Balance | $ 3,420 | $ 3,420 | ||||||
Consumer Portfolio Segment [Member] | ||||||||
Loans and Leases Receivable, Allowance, Ending Balance | 9,433 | 5,539 | 9,433 | 5,539 | 11,770 | 6,445 | 5,418 | 5,645 |
Collateral-dependent Loans, Balance | 357 | 357 | ||||||
Residential Portfolio Segment [Member] | ||||||||
Loans and Leases Receivable, Allowance, Ending Balance | 52 | $ 222 | 52 | $ 222 | $ 57 | 206 | $ 238 | $ 869 |
Financing Receivable, Troubled Debt Restructuring | $ 183 | $ 183 | 189 | |||||
Number of Collateral-dependent Loans | 2 | 2 | ||||||
Collateral-dependent Loans, Balance | $ 410 | $ 410 | ||||||
Restructured Loans [Member] | ||||||||
Financing Receivable, Troubled Debt Restructuring | 6,304 | 6,304 | 6,713 | |||||
Impaired Loans, Restructured, Nonaccrual Status | $ 3,420 | $ 3,420 | $ 3,670 | |||||
Commercial Real Estate [Member] | ||||||||
Financing Receivable, Number of Loans With Deferred Payments | 17 | 17 | ||||||
Financing Receivable, Principal and Interest Deferred Payments | $ 19,100 | $ 19,100 | ||||||
Other Consumer Loan [Member] | ||||||||
Financing Receivable, Number of Loans With Deferred Payments | 140 | 140 | ||||||
Financing Receivable, Principal and Interest Deferred Payments | $ 5,000 | $ 5,000 | ||||||
Commercial Loan [Member] | ||||||||
Financing Receivable, Number of Loans With Deferred Payments | 5 | 5 | ||||||
Financing Receivable, Principal and Interest Deferred Payments | $ 209 | $ 209 | ||||||
Other Commercial Real Estate Loans [Member] | ||||||||
Number of Collateral-dependent Loans | 4 | 4 | ||||||
Collateral-dependent Loans, Balance | $ 7,700 | $ 7,700 | ||||||
Nonperforming Financial Instruments [Member] | ||||||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 0 | $ 0 |
Note 4 - Loans, Allowance for_4
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned - Loans Receivable at Carrying Amount (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Loans | $ 1,310,009 | $ 1,126,664 |
Commercial Portfolio Segment [Member] | ||
Loans | 445,605 | 222,085 |
Commercial Portfolio Segment [Member] | Paycheck Protection Program Loans [Member] | ||
Loans | 243,982 | 0 |
Commercial Portfolio Segment [Member] | Other Commercial Portfolio Segment [Member] | ||
Loans | 201,623 | 222,085 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 563,707 | 578,758 |
Construction Portfolio Segment [Member] | ||
Loans | 140 | 1,618 |
Residential Portfolio Segment [Member] | ||
Loans | 25,076 | 32,748 |
Consumer Portfolio Segment [Member] | ||
Loans | $ 275,481 | $ 291,455 |
Note 4 - Loans, Allowance for_5
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Balance at beginning of period | $ 24,529 | $ 20,117 | $ 19,484 | $ 21,351 |
Provision (reversal) | 0 | 0 | 4,300 | 0 |
Chargeoffs | (872) | (1,039) | (3,249) | (3,403) |
Recoveries | 485 | 750 | 1,590 | 1,880 |
Total allowance for credit losses | 24,142 | 19,828 | 24,142 | 19,828 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | 2,017 | |||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 21,501 | |||
Unallocated Financing Receivable [Member] | ||||
Balance at beginning of period | 4,052 | 3,701 | 3,177 | |
Provision (reversal) | (524) | 0 | 351 | |
Chargeoffs | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | |
Total allowance for credit losses | 0 | 3,528 | 0 | 3,528 |
Unallocated Financing Receivable [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | (3,701) | |||
Unallocated Financing Receivable [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 0 | |||
Commercial Portfolio Segment [Member] | ||||
Balance at beginning of period | 8,072 | 5,235 | 4,959 | 6,311 |
Provision (reversal) | 867 | (596) | 537 | (1,817) |
Chargeoffs | 0 | 0 | (178) | (71) |
Recoveries | 46 | 233 | 282 | 449 |
Total allowance for credit losses | 8,985 | 4,872 | 8,985 | 4,872 |
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | 3,385 | |||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 8,344 | |||
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance at beginning of period | 4,623 | 4,057 | 4,064 | 3,884 |
Provision (reversal) | 1,030 | (1) | 946 | 146 |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 12 | 12 | 37 | 38 |
Total allowance for credit losses | 5,665 | 4,068 | 5,665 | 4,068 |
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | 618 | |||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 4,682 | |||
Construction Portfolio Segment [Member] | ||||
Balance at beginning of period | 7 | 1,117 | 109 | 1,465 |
Provision (reversal) | 0 | 482 | (71) | 134 |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total allowance for credit losses | 7 | 1,599 | 7 | 1,599 |
Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | (31) | |||
Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 78 | |||
Residential Portfolio Segment [Member] | ||||
Balance at beginning of period | 57 | 238 | 206 | 869 |
Provision (reversal) | (5) | (16) | (22) | (647) |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total allowance for credit losses | 52 | 222 | 52 | 222 |
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | (132) | |||
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 74 | |||
Consumer Portfolio Segment [Member] | ||||
Balance at beginning of period | 11,770 | 5,418 | 6,445 | 5,645 |
Provision (reversal) | (1,892) | 655 | 2,910 | 1,833 |
Chargeoffs | (872) | (1,039) | (3,071) | (3,332) |
Recoveries | 427 | 505 | 1,271 | 1,393 |
Total allowance for credit losses | $ 9,433 | $ 5,539 | 9,433 | $ 5,539 |
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | 1,878 | |||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | $ 8,323 |
Note 4 - Loans, Allowance for_6
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned - Recorded Investment in Loans Evaluated for Impairment (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Individually evaluated for impairment | $ 2,413 | |||||
Collectively evaluated for impairment | 17,071 | |||||
Total allowance for loan losses | $ 24,142 | $ 24,529 | 19,484 | $ 19,828 | $ 20,117 | $ 21,351 |
Individually evaluated for impairment | 15,824 | |||||
Collectively evaluated for impairment | 1,110,840 | |||||
Financing Receivable, before Allowance for Credit Loss, Total | 1,310,009 | 1,126,664 | ||||
Unallocated Financing Receivable [Member] | ||||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 3,701 | |||||
Total allowance for loan losses | 0 | 3,701 | 3,528 | 4,052 | 3,177 | |
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 0 | |||||
Financing Receivable, before Allowance for Credit Loss, Total | 0 | |||||
Commercial Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 2,413 | |||||
Collectively evaluated for impairment | 2,546 | |||||
Total allowance for loan losses | 8,985 | 8,072 | 4,959 | 4,872 | 5,235 | 6,311 |
Individually evaluated for impairment | 8,182 | |||||
Collectively evaluated for impairment | 213,903 | |||||
Financing Receivable, before Allowance for Credit Loss, Total | 445,605 | 222,085 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 4,064 | |||||
Total allowance for loan losses | 5,665 | 4,623 | 4,064 | 4,068 | 4,057 | 3,884 |
Individually evaluated for impairment | 7,409 | |||||
Collectively evaluated for impairment | 571,349 | |||||
Financing Receivable, before Allowance for Credit Loss, Total | 563,707 | 578,758 | ||||
Construction Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 109 | |||||
Total allowance for loan losses | 7 | 7 | 109 | 1,599 | 1,117 | 1,465 |
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 1,618 | |||||
Financing Receivable, before Allowance for Credit Loss, Total | 140 | 1,618 | ||||
Residential Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 206 | |||||
Total allowance for loan losses | 52 | 57 | 206 | 222 | 238 | 869 |
Individually evaluated for impairment | 190 | |||||
Collectively evaluated for impairment | 32,558 | |||||
Financing Receivable, before Allowance for Credit Loss, Total | 25,076 | 32,748 | ||||
Consumer Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 6,445 | |||||
Total allowance for loan losses | 9,433 | $ 11,770 | 6,445 | $ 5,539 | $ 5,418 | $ 5,645 |
Individually evaluated for impairment | 43 | |||||
Collectively evaluated for impairment | 291,412 | |||||
Financing Receivable, before Allowance for Credit Loss, Total | $ 275,481 | $ 291,455 |
Note 4 - Loans, Allowance for_7
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Loans | $ 1,310,009 | $ 1,126,664 |
Pass [Member] | ||
Loans | 1,282,020 | 1,103,164 |
Substandard [Member] | ||
Loans | 27,079 | 22,798 |
Doubtful [Member] | ||
Loans | 505 | 308 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 405 | 394 |
Commercial Portfolio Segment [Member] | ||
Loans | 445,605 | 222,085 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 437,216 | 213,542 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 8,389 | 8,543 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 563,707 | 578,758 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans | 546,714 | 567,525 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 16,993 | 11,233 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Loans | 140 | 1,618 |
Construction Portfolio Segment [Member] | Pass [Member] | ||
Loans | 140 | 1,618 |
Construction Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans | 25,076 | 32,748 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans | 23,699 | 31,055 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 1,377 | 1,693 |
Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans | 275,481 | 291,455 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 274,251 | 289,424 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 320 | 1,329 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 505 | 308 |
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | $ 405 | $ 394 |
Note 4 - Loans, Allowance for_8
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned - Loans by Delinquency and Nonaccrual Status (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Current and accruing | $ 1,300,985 | $ 1,114,951 |
Nonaccrual | 4,380 | 4,440 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,310,009 | 1,126,664 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 3,473 | 4,197 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 811 | 2,636 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 360 | 440 |
Commercial Portfolio Segment [Member] | ||
Current and accruing | 444,496 | 221,199 |
Nonaccrual | 107 | 197 |
Financing Receivable, before Allowance for Credit Loss, Total | 445,605 | 222,085 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 963 | 531 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 39 | 158 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Current and accruing | 559,361 | 573,809 |
Nonaccrual | 3,722 | 4,096 |
Financing Receivable, before Allowance for Credit Loss, Total | 563,707 | 578,758 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 624 | 432 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 0 | 421 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Current and accruing | 140 | 1,618 |
Nonaccrual | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 140 | 1,618 |
Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Current and accruing | 24,357 | 31,934 |
Nonaccrual | 161 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 25,076 | 32,748 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 558 | 274 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 0 | 540 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Current and accruing | 272,631 | 286,391 |
Nonaccrual | 390 | 147 |
Financing Receivable, before Allowance for Credit Loss, Total | 275,481 | 291,455 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 1,328 | 2,960 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 772 | 1,517 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | $ 360 | $ 440 |
Note 4 - Loans, Allowance for_9
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned - Impaired Loans (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Impaired loans with no related allowance recorded, recorded investment | $ 7,662 |
Impaired loans with no related allowance recorded, unpaid principal balance | 9,140 |
Impaired loans with an allowance recorded, recorded investment | 8,160 |
Impaired loans with an allowance recorded, unpaid principal balance | 8,160 |
Impaired loans with an allowance recorded, related allowance | 2,413 |
Total impaired loans, recorded investment | 15,822 |
Total impaired loans, unpaid principal balance | 17,300 |
Commercial Portfolio Segment [Member] | |
Impaired loans with no related allowance recorded, recorded investment | 21 |
Impaired loans with no related allowance recorded, unpaid principal balance | 21 |
Impaired loans with an allowance recorded, recorded investment | 8,160 |
Impaired loans with an allowance recorded, unpaid principal balance | 8,160 |
Impaired loans with an allowance recorded, related allowance | 2,413 |
Commercial Real Estate Portfolio Segment [Member] | |
Impaired loans with no related allowance recorded, recorded investment | 7,408 |
Impaired loans with no related allowance recorded, unpaid principal balance | 8,856 |
Residential Portfolio Segment [Member] | |
Impaired loans with no related allowance recorded, recorded investment | 190 |
Impaired loans with no related allowance recorded, unpaid principal balance | 220 |
Consumer Portfolio Segment [Member] | |
Impaired loans with no related allowance recorded, recorded investment | 43 |
Impaired loans with no related allowance recorded, unpaid principal balance | $ 43 |
Note 4 - Loans, Allowance fo_10
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned - Impaired Loans, Supplemental Schedule (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Average Recorded Investment | $ 16,962 | $ 16,836 |
Recognized Interest Income | 208 | 819 |
Commercial Portfolio Segment [Member] | ||
Average Recorded Investment | 8,701 | 9,404 |
Recognized Interest Income | 144 | 476 |
Commercial Real Estate Portfolio Segment [Member] | ||
Average Recorded Investment | 7,968 | 7,133 |
Recognized Interest Income | 60 | 333 |
Residential Portfolio Segment [Member] | ||
Average Recorded Investment | 194 | 196 |
Recognized Interest Income | 4 | 10 |
Consumer Portfolio Segment [Member] | ||
Average Recorded Investment | 99 | 103 |
Recognized Interest Income | $ 0 | $ 0 |
Note 4 - Loans, Allowance fo_11
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned - Troubled Debt Restructurings (Details) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) | |
Number of Contracts | 7 | 9 |
Pre-Modification Carrying Value | $ 8,608 | $ 8,886 |
Financing Receivable, Troubled Debt Restructuring | 6,304 | 6,713 |
Period-End Individual Impairment Allowance | $ 0 | $ 11 |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of Contracts | 6 | 6 |
Pre-Modification Carrying Value | $ 8,367 | $ 8,367 |
Financing Receivable, Troubled Debt Restructuring | 6,121 | 6,492 |
Period-End Individual Impairment Allowance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 2 | |
Pre-Modification Carrying Value | $ 278 | |
Financing Receivable, Troubled Debt Restructuring | 32 | |
Period-End Individual Impairment Allowance | $ 11 | |
Residential Portfolio Segment [Member] | ||
Number of Contracts | 1 | 1 |
Pre-Modification Carrying Value | $ 241 | $ 241 |
Financing Receivable, Troubled Debt Restructuring | 183 | 189 |
Period-End Individual Impairment Allowance | $ 0 | $ 0 |
Note 4 - Loans, Allowance fo_12
Note 4 - Loans, Allowance for Loan Losses/Credit Losses and Other Real Estate Owned - Risk Category of Loans by Class (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Loans | $ 1,310,009 | $ 1,126,664 |
Current | 1,300,985 | 1,114,951 |
Nonaccrual | 4,380 | 4,440 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 3,473 | 4,197 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 811 | 2,636 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 360 | 440 |
Commercial Portfolio Segment [Member] | ||
Originated prior | 20,560 | |
Originated 2015 | 5,205 | |
Originated 2016 | 26,133 | |
Originated 2017 | 10,860 | |
Originated 2018 | 21,343 | |
Originated 2019 | 42,380 | |
Originated 2020 | 278,540 | |
Total term loans | 405,021 | |
Revolving loans | 40,584 | |
Loans | 445,605 | 222,085 |
Current | 444,496 | 221,199 |
Nonaccrual | 107 | 197 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 963 | 531 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 39 | 158 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 93,468 | |
Originated 2015 | 52,078 | |
Originated 2016 | 53,725 | |
Originated 2017 | 101,838 | |
Originated 2018 | 95,622 | |
Originated 2019 | 94,531 | |
Originated 2020 | 72,445 | |
Total term loans | 563,707 | |
Revolving loans | 0 | |
Loans | 563,707 | 578,758 |
Current | 559,361 | 573,809 |
Nonaccrual | 3,722 | 4,096 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 624 | 432 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 421 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 0 | |
Revolving loans | 140 | |
Loans | 140 | 1,618 |
Current | 140 | 1,618 |
Nonaccrual | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Originated prior | 25,076 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 25,076 | |
Revolving loans | 0 | |
Loans | 25,076 | 32,748 |
Current | 24,357 | 31,934 |
Nonaccrual | 161 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 558 | 274 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 540 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans | 275,481 | 291,455 |
Current | 272,631 | 286,391 |
Nonaccrual | 390 | 147 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 1,328 | 2,960 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 772 | 1,517 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 360 | 440 |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | ||
Loans | 5,124 | |
Current | 5,087 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 35 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 2 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2015 [Member] | ||
Loans | 6,583 | |
Current | 6,457 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2015 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 91 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2015 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 30 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2015 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 5 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2016 [Member] | ||
Loans | 19,563 | |
Current | 19,339 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2016 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 147 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2016 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 48 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2016 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 29 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | ||
Loans | 24,941 | |
Current | 24,554 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 224 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 163 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | ||
Loans | 54,166 | |
Current | 53,347 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 266 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 327 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 226 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | ||
Loans | 69,941 | |
Current | 69,313 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 402 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 160 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 66 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | ||
Loans | 65,112 | |
Current | 64,893 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 148 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 40 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 31 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | ||
Loans | 245,430 | |
Current | 242,990 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 1,313 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 770 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 357 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | ||
Loans | 30,051 | |
Current | 29,641 | |
Nonaccrual | 390 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 15 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 2 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 3 | |
Pass [Member] | ||
Loans | 1,282,020 | 1,103,164 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 20,496 | |
Originated 2015 | 5,205 | |
Originated 2016 | 26,132 | |
Originated 2017 | 10,860 | |
Originated 2018 | 21,343 | |
Originated 2019 | 42,380 | |
Originated 2020 | 270,664 | |
Total term loans | 397,080 | |
Revolving loans | 40,136 | |
Loans | 437,216 | 213,542 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 88,661 | |
Originated 2015 | 50,764 | |
Originated 2016 | 43,804 | |
Originated 2017 | 101,731 | |
Originated 2018 | 95,622 | |
Originated 2019 | 94,531 | |
Originated 2020 | 71,601 | |
Total term loans | 546,714 | |
Revolving loans | 0 | |
Loans | 546,714 | 567,525 |
Pass [Member] | Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 0 | |
Revolving loans | 140 | |
Loans | 140 | 1,618 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Originated prior | 23,699 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 23,699 | |
Revolving loans | 0 | |
Loans | 23,699 | 31,055 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 274,251 | 289,424 |
Substandard [Member] | ||
Loans | 27,079 | 22,798 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 64 | |
Originated 2015 | 0 | |
Originated 2016 | 1 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 7,876 | |
Total term loans | 7,941 | |
Revolving loans | 448 | |
Loans | 8,389 | 8,543 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 4,807 | |
Originated 2015 | 1,314 | |
Originated 2016 | 9,921 | |
Originated 2017 | 107 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 844 | |
Total term loans | 16,993 | |
Revolving loans | 0 | |
Loans | 16,993 | 11,233 |
Substandard [Member] | Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 0 | |
Revolving loans | 0 | |
Loans | 0 | 0 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Originated prior | 1,377 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 1,377 | |
Revolving loans | 0 | |
Loans | 1,377 | 1,693 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 320 | 1,329 |
Doubtful [Member] | ||
Loans | 505 | 308 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 0 | |
Revolving loans | 0 | |
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | ||
Total term loans | 0 | |
Revolving loans | 0 | |
Loans | 0 | 0 |
Doubtful [Member] | Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 0 | |
Revolving loans | 0 | |
Loans | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 0 | |
Revolving loans | 0 | |
Loans | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 505 | 308 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 405 | 394 |
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 0 | |
Revolving loans | 0 | |
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | ||
Total term loans | 0 | |
Revolving loans | 0 | |
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 0 | |
Revolving loans | 0 | |
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Residential Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Total term loans | 0 | |
Revolving loans | 0 | |
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ||
Loans | $ 405 | $ 394 |
Note 5 - Concentration of Cre_2
Note 5 - Concentration of Credit Risk (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Unsecured Loan Limit, Percentage of Shareholders' Equity, California Financial Code | 15.00% | |
Secured and Unsecured Loan Limit Percentage, California Financial Code | 25.00% | |
Loan Commitments and Standby Letters of Credit Related to Real Estate Loans | $ 39,779 | $ 43,129 |
Corporate Debt Securities [Member] | ||
Concentration Risk, Issuer Relationships | 97 | |
Concentration Risk, Aggregate Securities Amount | $ 5,000 | |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Concentration Risk, Issuer Relationships | 9 | |
Concentration Risk, Aggregate Securities Amount | $ 5,000 | |
Commercial Real Estate Loans [Member] | ||
Loan To Value Ratio Requirement | 75.00% | |
Residential Real Estate Loans [Member] | ||
Loan To Value Ratio Requirement | 80.00% | |
Aggregate Loans [Member] | Customer Concentration Risk [Member] | ||
Concentration Risk, Issuer Relationships | 31 | |
Concentration Risk, Aggregate Loans Amount | $ 5,000 |
Note 6 - Other Assets and Oth_3
Note 6 - Other Assets and Other Liabilities (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands | Sep. 27, 2019 | Jun. 28, 2018 | Sep. 30, 2020USD ($)$ / shares | Sep. 30, 2020USD ($)$ / shares | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($)shares |
LIHTC Investments | $ 18,935 | $ 18,935 | $ 20,773 | |||
Qualified Affordable Housing Project Investments, Commitment | 13,397 | 13,397 | 16,231 | |||
Deferred Tax Liabilities, Net, Total | 21,819 | 21,819 | 0 | |||
Deferred Income Tax Expense (Benefit), Total | (21,942) | |||||
Deferred Tax Liabilities, Investments | 43,492 | 43,492 | ||||
Debt Securities, Available-for-sale, Unrealized Gain (Loss), Total | 147,115 | |||||
Deferred Tax Assets, Net, Total | $ 0 | $ 0 | 11,085 | |||
Deferred Tax Assets, Unrealized Losses on Available-for-Sale Securities, Gross | 10,934 | |||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years | 5 years | ||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | 5 years | ||||
Operating Lease, Liability, Total | $ 19,098 | $ 19,098 | 17,136 | |||
Operating Lease, Right-of-Use Asset | $ 19,098 | $ 19,098 | $ 17,136 | |||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 9 months 18 days | 4 years 9 months 18 days | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 2.25% | 2.25% | ||||
Operating Lease, Cost | $ 1,671 | $ 4,988 | ||||
Contingent Commitment, Remainder of Fiscal Year [Member] | ||||||
Qualified Affordable Housing Project Investments, Commitment | 2,248 | 2,248 | ||||
Contingent Commitment, Year 2 [Member] | ||||||
Qualified Affordable Housing Project Investments, Commitment | 4,071 | 4,071 | ||||
Contingent Commitment, Year 3 [Member] | ||||||
Qualified Affordable Housing Project Investments, Commitment | 5,983 | 5,983 | ||||
Contingent Commitment, Year 4 [Member] | ||||||
Qualified Affordable Housing Project Investments, Commitment | 295 | 295 | ||||
Contingent Commitment, Year 5 [Member] | ||||||
Qualified Affordable Housing Project Investments, Commitment | 24 | 24 | ||||
Contingent Commitment, Year 6 [Member] | ||||||
Qualified Affordable Housing Project Investments, Commitment | 228 | 228 | ||||
Contingent Commitment, Year 7 [Member] | ||||||
Qualified Affordable Housing Project Investments, Commitment | 74 | 74 | ||||
Contingent Commitment, Year 8 or Thereafter [Member] | ||||||
Qualified Affordable Housing Project Investments, Commitment | $ 474 | $ 474 | ||||
Visa Inc. [Member] | ||||||
Share Price (in dollars per share) | $ / shares | $ 199.97 | $ 199.97 | ||||
VISA Class B Common Stock [Member] | ||||||
Investment Owned, Balance, Shares (in shares) | shares | 211 | |||||
Conversion Rate of Class B Common Stock into Class A Common Stock | 1.6228 | 1.6298 | ||||
VISA Class B Common Stock [Member] | Reported Value Measurement [Member] | ||||||
Investment Owned, at Fair Value | $ 0 |
Note 6 - Other Assets and Oth_4
Note 6 - Other Assets and Other Liabilities - Summary of Other Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Federal Reserve Bank stock | [1] | $ 14,069 | $ 14,069 |
Other investments | 158 | 158 | |
Total cost method equity investments | 14,227 | 14,227 | |
Life insurance cash surrender value | 59,868 | 57,810 | |
Net deferred tax asset | 0 | 11,085 | |
Right-of-use asset | 19,098 | 17,136 | |
Limited partnership investments | 18,935 | 20,773 | |
Interest receivable | 30,779 | 28,797 | |
Prepaid assets | 3,619 | 3,737 | |
Other assets | 13,743 | 10,767 | |
Total other assets | $ 160,269 | $ 164,332 | |
[1] | A bank applying for membership in the Federal Reserve System is required to subscribe to stock in the Federal Reserve Bank (FRB) in its district in a sum equal to six percent of the bank's paid-up capital stock and surplus. One-half of the amount of the bank's subscription shall be paid to the FRB and the remaining half will be subject to call when deemed necessary by the Board of Governors of the Federal Reserve System. |
Note 6 - Other Assets and Oth_5
Note 6 - Other Assets and Other Liabilities - Amounts Recognized in Net Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Investment loss included in pre-tax income | $ 640 | $ 600 | $ 1,840 | $ 1,800 |
Tax credits recognized in provision for income taxes | $ 225 | $ 225 | $ 675 | $ 675 |
Note 6 - Other Assets and Oth_6
Note 6 - Other Assets and Other Liabilities - Other Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Net deferred tax liability | $ 21,819 | $ 0 |
Operating lease liability | 19,098 | 17,136 |
Other liabilities | 49,559 | 27,453 |
Total other liabilities | $ 90,476 | $ 44,589 |
Note 6 - Other Assets and Oth_7
Note 6 - Other Assets and Other Liabilities - Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
The remaining three months of 2020 | $ 1,599 | |
2021 | 5,353 | |
2022 | 4,426 | |
2023 | 3,689 | |
2024 | 2,078 | |
Thereafter | 2,863 | |
Total minimum lease payments | 20,008 | |
Less: discount | (910) | |
Operating lease liability | $ 19,098 | $ 17,136 |
Note 7 - Goodwill and Identif_3
Note 7 - Goodwill and Identifiable Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | |
Goodwill and Intangible Asset Impairment, Total | $ 0 | $ 0 | $ 0 |
Amortization Expense, Adjustment Resulting from a Change in Estimates of Useful Lives or Residual Values | $ 0 | $ 0 | $ 0 |
Note 7 - Goodwill and Identif_4
Note 7 - Goodwill and Identifiable Intangible Assets - Carrying Values of Goodwill (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Goodwill | $ 121,673 | $ 121,673 |
Note 7 - Goodwill and Identif_5
Note 7 - Goodwill and Identifiable Intangible Assets - Gross Carrying Amount of Intangible Assets and Accumulated Amortization (Details) - Core Deposits [Member] - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Gross Carrying Amount | $ 56,808 | $ 56,808 |
Accumulated Amortization | $ (55,635) | $ (55,417) |
Note 7 - Goodwill and Identif_6
Note 7 - Goodwill and Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
For the nine months ended September 30, 2020 (actual) | $ 72 | $ 76 | $ 218 | $ 465 |
Core Deposits [Member] | ||||
For the nine months ended September 30, 2020 (actual) | 218 | |||
Estimate for the remainder of year ending December 31, 2020 | 69 | 69 | ||
Estimate for year ending December 31, 2021 | 269 | 269 | ||
2022 | 252 | 252 | ||
2023 | 236 | 236 | ||
2024 | 222 | 222 | ||
2025 | $ 125 | $ 125 |
Note 8 - Deposits and Borrowe_3
Note 8 - Deposits and Borrowed Funds (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Demand Deposit Overdrafts | $ 1,466 | $ 1,466 | $ 1,055 | ||
Interest Expense, Time Deposits, $100,000 or More | $ 80 | $ 81 | $ 238 | $ 246 |
Note 8 - Deposits and Borrowe_4
Note 8 - Deposits and Borrowed Funds - Deposits Detail (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Noninterest-bearing | $ 2,684,028 | $ 2,240,112 |
Interest-bearing: | ||
Transaction | 1,040,712 | 931,888 |
Savings | 1,653,000 | 1,471,284 |
Time deposits less than $100 thousand | 83,838 | 88,355 |
Time deposits $100 thousand through $250 thousand | 50,378 | 54,874 |
Time deposits more than $250 thousand | 27,234 | 26,108 |
Total deposits | $ 5,539,190 | $ 4,812,621 |
Note 8 - Deposits and Borrowe_5
Note 8 - Deposits and Borrowed Funds - Short-term Borrowed Funds (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Collateral Carrying Value | $ 260,162 | $ 264,571 |
Short-term borrowed funds | 107,973 | 30,928 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Collateral Carrying Value | 0 | 65,833 |
Agency Residential MBS [Member] | ||
Collateral Carrying Value | 76,715 | 52,485 |
Corporate Debt Securities [Member] | ||
Collateral Carrying Value | $ 183,447 | $ 146,253 |
Note 9 - Fair Value Measureme_3
Note 9 - Fair Value Measurements (Details Textual) | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value Inputs, Appraisal Rate | 10.00% |
Note 9 - Fair Value Measureme_4
Note 9 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |||
Investment securities available for sale | $ 3,983,994 | $ 3,078,846 | |||
Agency Residential MBS [Member] | |||||
Investment securities available for sale | 745,297 | 939,750 | |||
US Treasury Securities [Member] | |||||
Investment securities available for sale | 20,000 | ||||
Agency Commercial MBS [Member] | |||||
Investment securities available for sale | 3,585 | 3,708 | |||
US Government-sponsored Enterprises Debt Securities [Member] | |||||
Investment securities available for sale | 111,167 | ||||
US Government Agencies Debt Securities [Member] | |||||
Investment securities available for sale | 163 | 544 | |||
US States and Political Subdivisions Debt Securities [Member] | |||||
Investment securities available for sale | 127,172 | 163,139 | |||
Debt Security, Corporate, US [Member] | |||||
Investment securities available for sale | 2,212,827 | 1,833,783 | |||
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | |||||
Investment securities available for sale | 224,816 | ||||
Fair Value, Recurring [Member] | |||||
Investment securities available for sale | 3,983,994 | 3,078,846 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 20,000 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 3,983,994 | 3,058,846 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | Agency Residential MBS [Member] | |||||
Investment securities available for sale | 745,297 | 939,750 | |||
Fair Value, Recurring [Member] | Agency Residential MBS [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | Agency Residential MBS [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 745,297 | 939,750 | |||
Fair Value, Recurring [Member] | Agency Residential MBS [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||||
Investment securities available for sale | 20,000 | ||||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 20,000 | ||||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 0 | ||||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | [2] | 0 | |||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | |||||
Investment securities available for sale | 3,585 | 3,708 | |||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 3,585 | 3,708 | |||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||||
Investment securities available for sale | 111,167 | ||||
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | ||||
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 111,167 | ||||
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | [2] | 0 | |||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||||
Investment securities available for sale | 163 | 544 | |||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 163 | 544 | |||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||||
Investment securities available for sale | 127,172 | 163,139 | |||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 127,172 | 163,139 | |||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | Debt Security, Corporate, US [Member] | |||||
Investment securities available for sale | 2,212,827 | 1,833,783 | |||
Fair Value, Recurring [Member] | Debt Security, Corporate, US [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | Debt Security, Corporate, US [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 2,212,827 | 1,833,783 | |||
Fair Value, Recurring [Member] | Debt Security, Corporate, US [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | |||||
Investment securities available for sale | 224,816 | ||||
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | |||||
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 224,816 | ||||
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | |||||
Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | |||||
Investment securities available for sale | 670,134 | 6,755 | |||
Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 670,134 | 6,755 | |||
Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | $ 0 | [1] | $ 0 | ||
[1] | There were no transfers in to or out of level 3 during the nine months ended September 30, 2020. | ||||
[2] | There were no transfers in to or out of level 3 during the twelve months ended December 31, 2019. |
Note 9 - Fair Value Measureme_5
Note 9 - Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Fair Value | $ 9,353 | $ 10,071 |
Total Losses | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | 9,353 | 10,071 |
Other Real Estate Owned [Member] | ||
Fair Value | 43 | 43 |
Total Losses | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | 43 | 43 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 5,354 | 5,747 |
Total Losses | 0 | 0 |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 3,773 | 4,091 |
Total Losses | 0 | 0 |
Impaired Loans [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | 183 | 190 |
Total Losses | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 5,354 | 5,747 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 3,773 | 4,091 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | $ 183 | $ 190 |
Note 9 - Fair Value Measureme_6
Note 9 - Fair Value Measurements - Fair Value Estimates for Financial Instruments, Excluding Financial Instruments Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Reported Value Measurement [Member] | ||
Cash and due from banks | $ 398,964 | $ 373,421 |
Debt securities held to maturity | 577,795 | 738,072 |
Loans | 1,285,867 | 1,107,180 |
Deposits | 5,539,190 | 4,812,621 |
Short-term borrowed funds | 107,973 | 30,928 |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 398,964 | 373,421 |
Debt securities held to maturity | 593,701 | 744,296 |
Loans | 1,347,245 | 1,152,949 |
Deposits | 5,539,300 | 4,810,934 |
Short-term borrowed funds | 107,973 | 30,928 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 398,964 | 373,421 |
Debt securities held to maturity | 0 | 0 |
Loans | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowed funds | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | 0 | 0 |
Debt securities held to maturity | 593,701 | 744,296 |
Loans | 0 | 0 |
Deposits | 5,377,740 | 4,643,284 |
Short-term borrowed funds | 107,973 | 30,928 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | 0 | 0 |
Debt securities held to maturity | 0 | 0 |
Loans | 1,347,245 | 1,152,949 |
Deposits | 161,560 | 167,650 |
Short-term borrowed funds | $ 0 | $ 0 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||||
Jun. 30, 2019 | Sep. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2017 | |
Loan Commitments, Not Unconditionally Cancellable | $ 39,779 | ||||
Unfunded Loan Commitments | 279,330 | $ 265,311 | |||
Guarantor Obligations, Current Carrying Value | 580 | 550 | |||
Reserve for Unfunded Commitments | $ 2,160 | ||||
Other Liabilities [Member] | |||||
Reserve for Unfunded Commitments | 53 | 2,160 | |||
Financial Standby Letter of Credit [Member] | |||||
Letters of Credit Outstanding, Amount | 2,356 | 3,099 | |||
Commercial Standby Letters of Credit [Member] | |||||
Letters of Credit Outstanding, Amount | $ 0 | $ 0 | |||
Customer Refunds [Member] | |||||
Loss Contingency Accrual, Ending Balance | $ 5,843 | $ 5,542 | |||
Loss Contingency Accrual, Period Increase (Decrease), Total | $ 301 |
Note 11 - Earnings Per Common_3
Note 11 - Earnings Per Common Share (Details Textual) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Share-based Payment Arrangement, Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 567 | 379 | 560 | 425 |
Note 11 - Earnings Per Common_4
Note 11 - Earnings Per Common Share - Earnings Per Common Share and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income applicable to common equity (numerator) | $ 20,051 | $ 20,390 | $ 56,575 | $ 59,661 |
Weighted average number of common shares outstanding - basic (in shares) | 26,930 | 26,986 | 26,977 | 26,924 |
Basic earnings per common share (in dollars per share) | $ 0.74 | $ 0.76 | $ 2.10 | $ 2.22 |
Add common stock equivalents for options (in shares) | 16 | 41 | 21 | 52 |
Weighted average number of common shares outstanding - diluted (denominator) (in shares) | 26,946 | 27,027 | 26,998 | 26,976 |
Diluted earnings per common share (in dollars per share) | $ 0.74 | $ 0.75 | $ 2.10 | $ 2.21 |
Note 12 - Impact of COVID-19 (D
Note 12 - Impact of COVID-19 (Details Textual) $ in Thousands | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Financing Receivable, before Allowance for Credit Loss, Total | $ 1,310,009 | $ 1,126,664 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | 3,836,879 | 3,041,860 | |
Debt Securities, Available-for-sale, Total | $ 3,983,994 | $ 3,078,846 | |
Corporate Debt Securities in Industrial and Energy Sectors [Member] | |||
Debt Securities, Available-for-Sale, Number of Issuers | 14 | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 275,300 | ||
Debt Securities, Available-for-sale, Total | 288,700 | ||
Other Consumer Loan [Member] | |||
Financing Receivable, Principal and Interest Deferred Payments | 5,000 | ||
Commercial Real Estate [Member] | |||
Financing Receivable, Principal and Interest Deferred Payments | 19,100 | ||
Commercial Loan [Member] | |||
Financing Receivable, Principal and Interest Deferred Payments | 209 | ||
SBA CARES Act Paycheck Protection Program [Member] | |||
Financing Receivable, before Allowance for Credit Loss, Total | $ 244,000 | $ 249,000 |