Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 18, 2021 | Jun. 30, 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 | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 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 Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
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 Public Float | $ 1,546,483,328.28 | ||
Entity Common Stock, Shares Outstanding | 26,806,764 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Assets: | ||
Cash and due from banks | $ 621,275 | $ 373,421 |
Debt securities available for sale | 4,063,185 | 3,078,846 |
Debt securities held to maturity, net of allowance for credit losses of $9 at December 31, 2020 and $ - at December 31, 2019 (Fair value of $529,678 at December 31, 2020 and $744,296 at December 31, 2019) | 515,589 | 738,072 |
Loans | 1,256,243 | 1,126,664 |
Allowance for credit losses on loans | (23,854) | (19,484) |
Loans, net of allowance for credit losses on loans | 1,232,389 | 1,107,180 |
Other real estate owned | 0 | 43 |
Premises and equipment, net | 32,813 | 34,597 |
Identifiable intangibles, net | 1,104 | 1,391 |
Goodwill | 121,673 | 121,673 |
Other assets | 159,903 | 164,332 |
Total Assets | 6,747,931 | 5,619,555 |
Liabilities: | ||
Noninterest-bearing deposits | 2,725,177 | 2,240,112 |
Interest-bearing deposits | 2,962,802 | 2,572,509 |
Total deposits | 5,687,979 | 4,812,621 |
Short-term borrowed funds | 102,545 | 30,928 |
Other liabilities | 112,598 | 44,589 |
Total Liabilities | 5,903,122 | 4,888,138 |
Contingencies (Note 10) | ||
Shareholders' Equity: | ||
Common stock (no par value), authorized - 150,000 shares Issued and outstanding: 26,807 at December 31, 2020 and 27,062 at December 31, 2019 | 466,006 | 465,460 |
Deferred compensation | 35 | 771 |
Accumulated other comprehensive income | 114,412 | 26,051 |
Retained earnings | 264,356 | 239,135 |
Total Shareholders' Equity | 844,809 | 731,417 |
Total Liabilities and Shareholders' Equity | $ 6,747,931 | $ 5,619,555 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt securities held to maturity, fair value | $ 529,678 | $ 744,296 |
Debt securities held to maturity, allowance for credit losses | $ 9 | $ 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) | 26,807 | 27,062 |
Common stock, outstanding (in shares) | 26,807 | 27,062 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest and Loan Fee Income: | |||
Loans | $ 59,377 | $ 58,153 | $ 59,030 |
Equity securities | 419 | 392 | 354 |
Debt securities available for sale | 91,343 | 74,147 | 60,383 |
Debt securities held to maturity | 13,552 | 18,997 | 24,031 |
Interest-bearing cash | 1,165 | 6,993 | 7,925 |
Total Interest and Loan Fee Income | 165,856 | 158,682 | 151,723 |
Interest Expense: | |||
Deposits | 1,770 | 1,854 | 1,922 |
Short-term borrowed funds | 53 | 34 | 37 |
Other borrowed funds | 1 | 0 | 0 |
Total Interest Expense | 1,824 | 1,888 | 1,959 |
Net Interest and Loan Fee Income | 164,032 | 156,794 | 149,764 |
Provision for Credit Losses | 4,300 | 0 | 0 |
Net Interest and Loan Fee Income After Provision For Credit Losses | 159,732 | 156,794 | 149,764 |
Noninterest Income: | |||
Gains on sales of real property | 3,536 | 0 | 0 |
Life insurance gains | 0 | 433 | 585 |
Securities gains (losses) | 71 | 217 | (52) |
Other noninterest income | 3,998 | 4,001 | 4,079 |
Total Noninterest Income | 45,637 | 47,408 | 48,149 |
Noninterest Expense: | |||
Salaries and benefits | 50,749 | 51,054 | 53,007 |
Occupancy and equipment | 19,637 | 20,240 | 19,679 |
Outsourced data processing services | 9,426 | 9,471 | 9,229 |
Professional fees | 2,423 | 2,465 | 2,842 |
Courier service | 2,001 | 1,878 | 1,779 |
Loss contingency | 0 | 553 | 3,500 |
Amortization of identifiable intangibles | 287 | 538 | 1,921 |
Other noninterest expense | 14,043 | 12,787 | 14,959 |
Total Noninterest Expense | 98,566 | 98,986 | 106,916 |
Income Before Income Taxes | 106,803 | 105,216 | 90,997 |
Provision for income taxes | 26,390 | 24,827 | 19,433 |
Net Income | $ 80,413 | $ 80,389 | $ 71,564 |
Average Common Shares Outstanding (in shares) | 26,942 | 26,956 | 26,649 |
Diluted Average Common Shares Outstanding (in shares) | 26,960 | 27,006 | 26,756 |
Per Common Share Data: | |||
Basic earnings (in dollars per share) | $ 2.98 | $ 2.98 | $ 2.69 |
Diluted earnings (in dollars per share) | 2.98 | 2.98 | 2.67 |
Dividends paid per common share (in dollars per share) | $ 1.64 | $ 1.63 | $ 1.60 |
Deposit Account [Member] | |||
Noninterest Income: | |||
Noninterest income revenue | $ 14,149 | $ 17,882 | $ 18,508 |
Credit Card, Merchant Discount [Member] | |||
Noninterest Income: | |||
Noninterest income revenue | 10,208 | 10,132 | 9,630 |
Debit Card [Member] | |||
Noninterest Income: | |||
Noninterest income revenue | 6,181 | 6,357 | 6,643 |
Fiduciary and Trust [Member] | |||
Noninterest Income: | |||
Noninterest income revenue | 3,012 | 2,963 | 2,938 |
ATM Processing Fees [Member] | |||
Noninterest Income: | |||
Noninterest income revenue | 2,273 | 2,776 | 2,752 |
Financial Service, Other [Member] | |||
Noninterest Income: | |||
Noninterest income revenue | 1,837 | 2,255 | 2,567 |
Financial Services Commission [Member] | |||
Noninterest Income: | |||
Noninterest income revenue | $ 372 | $ 392 | $ 499 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 80,413 | $ 80,389 | $ 71,564 |
Other comprehensive income (loss): | |||
Changes in net unrealized gains (losses) on debt securities available for sale | 125,519 | 93,936 | (27,939) |
Deferred tax (expense) benefit | (37,108) | (27,771) | 8,258 |
Reclassification of gains included in net income | (71) | (167) | 0 |
Deferred tax expense on gains included in net income | 21 | 49 | 0 |
Changes in unrealized gains (losses) on debt securities available for sale, net of tax | 88,361 | 66,047 | (19,681) |
Total Comprehensive Income | $ 168,774 | $ 146,436 | $ 51,883 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | 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, 2017 | 26,425 | 26,425 | |||||||||||
Balance at Dec. 31, 2017 | $ 142 | $ (142) | $ 431,734 | $ 1,533 | $ (16,690) | $ 173,662 | $ 590,239 | $ 431,734 | $ 1,533 | $ (16,832) | $ 173,804 | $ 590,239 | |
Reclass stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 | (3,625) | 3,625 | |||||||||||
Net income | 71,564 | 71,564 | |||||||||||
Other comprehensive income (loss) | (19,681) | $ (19,681) | |||||||||||
Exercise of stock options (in shares) | 292 | 292 | |||||||||||
Exercise of stock options | $ 13,373 | $ 13,373 | |||||||||||
Restricted stock activity (in shares) | 20 | ||||||||||||
Restricted stock activity | $ 1,281 | (138) | 1,143 | ||||||||||
Stock based compensation | $ 1,988 | 1,988 | |||||||||||
Stock awarded to employees (in shares) | 2 | ||||||||||||
Stock awarded to employees | $ 124 | 124 | |||||||||||
Retirement of common stock (in shares) | (9) | ||||||||||||
Retirement of common stock | $ (149) | (375) | (524) | ||||||||||
Dividends | (42,635) | (42,635) | |||||||||||
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 | 80,389 | 80,389 | |||||||||||
Other comprehensive income (loss) | 66,047 | $ 66,047 | |||||||||||
Exercise of stock options (in shares) | 269 | 516 | |||||||||||
Exercise of stock options | $ 13,699 | $ 13,699 | |||||||||||
Restricted stock activity (in shares) | 18 | ||||||||||||
Restricted stock activity | $ 1,697 | (624) | 1,073 | ||||||||||
Stock based compensation | $ 1,744 | 1,744 | |||||||||||
Stock awarded to employees (in shares) | 2 | ||||||||||||
Stock awarded to employees | $ 105 | 105 | |||||||||||
Retirement of common stock (in shares) | (8) | ||||||||||||
Retirement of common stock | $ (136) | (352) | (488) | ||||||||||
Dividends | (43,942) | (43,942) | |||||||||||
Shares issued from stock warrant exercise, net of repurchase (in shares) | 51 | ||||||||||||
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 | 80,413 | 80,413 | |||||||||||
Other comprehensive income (loss) | 88,361 | $ 88,361 | |||||||||||
Exercise of stock options (in shares) | 52 | 52 | |||||||||||
Exercise of stock options | $ 2,838 | $ 2,838 | |||||||||||
Restricted stock activity (in shares) | 10 | ||||||||||||
Restricted stock activity | $ 1,270 | (736) | 534 | ||||||||||
Stock based compensation | $ 1,875 | 1,875 | |||||||||||
Stock awarded to employees (in shares) | 2 | ||||||||||||
Stock awarded to employees | $ 100 | 100 | |||||||||||
Retirement of common stock (in shares) | (319) | ||||||||||||
Retirement of common stock | $ (5,537) | (10,959) | (16,496) | ||||||||||
Dividends | (44,285) | (44,285) | |||||||||||
Balance (in shares) at Dec. 31, 2020 | 26,807 | ||||||||||||
Balance at Dec. 31, 2020 | $ 466,006 | $ 35 | $ 114,412 | $ 264,356 | $ 844,809 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Dividends per share (in dollars per share) | $ 1.64 | $ 1.63 | $ 1.60 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 80,413 | $ 80,389 | $ 71,564 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization/accretion | 22,647 | 20,626 | 24,402 |
Provision for credit losses | 4,300 | 0 | 0 |
Net amortization of deferred loan fees | (4,442) | (260) | (203) |
Increase in interest income receivable | (4,225) | (2,963) | (2,277) |
(Increase) decrease in net deferred tax asset | (246) | 3,662 | (943) |
Increase in other assets | (3,528) | (14,806) | (4,017) |
Stock option compensation expense | 1,875 | 1,744 | 1,988 |
Increase (decrease) in income taxes payable | 353 | (1,733) | 7,554 |
Decrease in interest expense payable | (5) | (9) | (27) |
Increase (decrease) in other liabilities | 14,280 | (5,298) | (580) |
Life insurance gains | 0 | (433) | (585) |
Securities (gains) losses | (71) | (217) | 52 |
Gains on sales of premises and equipment | (3,536) | 0 | 0 |
Gain on disposal of premises and equipment | (71) | 0 | (216) |
Net gain on sale of or write-down of foreclosed assets | 0 | 0 | (83) |
Net Cash Provided by Operating Activities | 107,744 | 80,702 | 96,629 |
Investing Activities: | |||
Net (disbursements) repayments of loans | (126,682) | 79,396 | 80,985 |
Proceeds from life insurance policies | 0 | 1,273 | 1,169 |
Purchases of debt securities available for sale | (2,102,983) | (970,542) | (854,555) |
Proceeds from sale/maturity/calls of debt securities available for sale | 1,260,846 | 631,016 | 353,327 |
Proceeds from maturity/calls of debt securities held to maturity | 218,164 | 238,450 | 167,029 |
Proceeds from sale of equity securities | 0 | 1,797 | 0 |
Purchases of premises and equipment | (2,200) | (3,994) | (3,123) |
Proceeds from sale of premises and equipment | 3,819 | 0 | 446 |
Proceeds from sale of foreclosed assets | 114 | 307 | 1,159 |
Net Cash Used in Investing Activities | (748,922) | (22,297) | (253,563) |
Financing Activities | |||
Net change in deposits | 875,358 | (54,218) | 39,226 |
Net change in short-term borrowings | 71,617 | (20,319) | (7,224) |
Exercise of stock options | 2,838 | 13,699 | 13,373 |
Retirement of common stock | (16,496) | (488) | (524) |
Common stock dividends paid | (44,285) | (43,942) | (42,635) |
Net Cash Provided by (Used in) Financing Activities | 889,032 | (105,268) | 2,216 |
Net Change In Cash and Due from Banks | 247,854 | (46,863) | (154,718) |
Cash and Due from Banks at Beginning of Period | 373,421 | 420,284 | 575,002 |
Cash and Due from Banks at End of Period | 621,275 | 373,421 | 420,284 |
Supplemental disclosure of noncash activities: | |||
Right-of-use assets acquired in exchange for operating lease liabilities | 7,697 | 23,587 | 0 |
Amount recognized upon initial adoption of ASU 2016-02 | 0 | 15,325 | 0 |
Securities purchases pending settlement | 29,000 | 0 | 0 |
Supplemental disclosure of cash flow activities: | |||
Cash paid for amounts included in operating lease liabilities | 6,516 | 5,123 | 0 |
Interest paid for the period | 1,830 | 1,898 | 1,932 |
Income tax payments for the period | $ 26,462 | $ 24,491 | $ 13,627 |
Note 1 - Business and Accountin
Note 1 - Business and Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1: Westamerica Bancorporation, a registered bank holding company (the “Company”), provides a full range of banking services to corporate and individual customers in Northern and Central California through its wholly-owned subsidiary bank, Westamerica Bank (the “Bank”). The Bank is subject to competition from both financial and nonfinancial institutions and to the regulations of certain agencies and undergoes periodic examinations by those regulatory authorities. All of the financial service operations are considered by management to be aggregated in one reportable operating segment. The Company has evaluated events and transactions subsequent to the balance sheet date. Based on this evaluation, the Company is not Summary of Significant Accounting Policies The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. The following is a summary of significant policies used in the preparation of the accompanying financial statements. Accounting Estimates. Certain accounting policies underlying the preparation of these financial statements require Management to make 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 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 fair value of an asset not third may Principles of Consolidation. The consolidated financial statements include the accounts of the Company and all the Company’s subsidiaries. Significant intercompany transactions have been eliminated in consolidation. The Company does not Cash. Cash includes Due From Banks balances which are readily convertible to known amounts of cash and are generally 90 Equity Securities. Equity securities consist of marketable equity securities and mutual funds which are recorded at fair value. Unrealized gains and losses are included in net income. 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, collateralized loan obligations and commercial paper. 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 Available for sale debt securities in unrealized loss positions are evaluated for credit related loss at least quarterly. For available for sale 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 debt 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 days delinquent with respect to interest or principal, unless they are well secured and in the process of collection, and other loans on which full recovery of principal or interest is in doubt, are placed on nonaccrual status. Interest previously accrued on loans placed on nonaccrual status is charged against interest income. In addition, some loans secured by real estate and commercial loans to borrowers experiencing financial difficulties are placed on nonaccrual status even though the borrowers continue to repay the loans as scheduled. When the ability to fully collect nonaccrual loan principal is in doubt, payments received are applied against the principal balance of the loans on a cost-recovery method until such time as full collection of the remaining recorded balance is expected. Any additional interest payments received after that time are recorded as interest income on a cash basis. Nonaccrual loans are reinstated to accrual status when none 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.The 2021, may not January 1, 2022. 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 Nonrefundable fees and certain costs associated with originating or acquiring loans are deferred and amortized as an adjustment to interest income over the contractual loan lives. Upon prepayment, unamortized loan fees, net of costs, are immediately recognized in interest income. Other fees, including those collected upon principal prepayments, are included in interest income when received. Loans held for sale are identified upon origination and are reported at the lower of cost or market value on an aggregate loan basis. Other Real Estate Owned. Other real estate owned is comprised of property acquired through foreclosure proceedings, acceptances of deeds-in-lieu of foreclosure and, if applicable, vacated bank properties. Losses recognized at the time of acquiring property in full or partial satisfaction of debt are charged against the allowance for credit losses. Other real estate owned is recorded at the fair value of the collateral, generally based upon an independent property appraisal, less estimated disposition costs. Losses incurred subsequent to acquisition due to any decline in annual independent property appraisals are recognized as noninterest expense. Routine holding costs, such as property taxes, insurance and maintenance, and losses from sales and dispositions, are recognized as noninterest expense. Premises and Equipment. Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed substantially on the straight-line method over the estimated useful life of each type of asset. Estimated useful lives of premises and equipment range from 20 to 50 years and from 3 to 20 years, respectively. Leasehold improvements are amortized over the terms of the lease or their estimated useful life, whichever is shorter. Revenue Recognition. The Company recognizes revenue as it is earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. In certain circumstances, noninterest income is reported net of associated expenses that are directly related to variable volume-based sales or revenue sharing arrangements or when the Company acts on an agency basis for others. Life Insurance Cash Surrender Value. The Company has purchased life insurance policies on certain directors and officers as well as acquired such assets as part of the acquisition of other banks. Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. These assets are included in other assets on the consolidated balance sheets. Intangible Assets. Intangible assets are comprised of goodwill, core deposit intangibles and other identifiable intangibles acquired in business combinations. Intangible assets with finite useful lives are amortized on an accelerated basis over their respective estimated useful lives not not not not Impairment of Long-Lived Assets. The Company reviews its long-lived and certain intangible assets for impairment whenever events or changes indicate that the carrying amount of an asset may not Income Taxes. The Company and its subsidiaries file consolidated tax returns. The Company accounts for income taxes in accordance with FASB ASC 740, two not. not fifty Stock-based Compensation. The Company applies FASB ASC 718 no Other. Securities and other property held by the Bank in a fiduciary or agency capacity are not not Recently Adopted Accounting Standards In 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 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 not 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 - Investment Securities
Note 2 - Investment Securities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 2: The Company’s marketable equity securities were sold in the third 2019. December 31, 2019, December 31, 2020 December 31, 2019. Effective January 1, 2020, FASB ASU 2016 13, Financial Instruments – Credit Losses (Topic 326 fourth December 31, 2020, An analysis of the amortized cost and fair value by major categories of debt securities available for sale, which are carried at fair value with net unrealized gains (losses) reported on an after-tax basis as a component of cumulative other comprehensive income, and debt securities held to maturity, which are carried at amortized cost, before allowance for credit losses of $9 At December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale Agency residential mortgage-backed securities ("MBS") $ 630,174 $ 22,779 $ (1 ) $ 652,952 Securities of U.S. Government entities 154 - - 154 Obligations of states and political subdivisions 105,679 5,332 (1 ) 111,010 Corporate securities 1,986,995 131,025 (42 ) 2,117,978 Commercial paper 24,983 7 0 24,990 Collateralized loan obligations 1,152,766 4,433 (1,098 ) 1,156,101 Total debt securities available for sale 3,900,751 163,576 (1,142 ) 4,063,185 Debt securities held to maturity Agency residential MBS 240,332 6,852 (32 ) 247,152 Non-agency residential MBS 1,344 26 - 1,370 Obligations of states and political subdivisions 273,922 7,243 - 281,165 Total debt securities held to maturity 515,598 14,121 (32 ) 529,687 Total $ 4,416,349 $ 177,697 $ (1,174 ) $ 4,592,872 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 December 31, 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 $ 212,140 $ 213,715 $ 54,526 $ 54,927 Over 1 to 5 years 922,170 974,438 129,786 133,195 Over 5 to 10 years 1,767,747 1,851,184 89,610 93,043 Over 10 years 368,520 370,896 - - Subtotal 3,270,577 3,410,233 273,922 281,165 MBS 630,174 652,952 241,676 248,522 Total $ 3,900,751 $ 4,063,185 $ 515,598 $ 529,687 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 December 31, 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, 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 $ 96 $ (1 ) 1 $ 17 $ - 2 $ 113 $ (1 ) Securities of U.S. 1 154 - - - - 1 154 - Obligations of states 2 692 (1 ) - - - 2 692 (1 ) Corporate securities - - - 1 14,963 (42 ) 1 14,963 (42 ) Collateralized loan 36 268,584 (1,098 ) - - - 36 268,584 (1,098 ) Total 40 $ 269,526 $ (1,100 ) 2 $ 14,980 $ (42 ) 42 $ 284,506 $ (1,142 ) An analysis of gross unrecognized losses of the debt securities held to maturity portfolio follows: Debt Securities Held to Maturity At December 31, 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 3 $ 377 $ (1 ) 3 $ 788 $ (31 ) 6 $ 1,165 $ (32 ) 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 December 31, 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 December 31, 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. 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. - - - 2 544 (9 ) 2 544 (9 ) Obligations of states - - - 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 - - - 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 $14.96 million at December 31, 2020, $14.96 July 2021, The following table presents the activity in the allowance for credit losses for debt securities held to maturity: For the Year Ended December 31, 2020 (In thousands) Allowance for credit losses: Beginning balance, prior to adoption of ASU 2016-13 $ - Impact of adopting ASU 2016-13 16 Reversal (7 ) Chargeoffs - Recoveries - Total ending balance $ 9 Agency mortgage-backed securities were assigned no The following table summarizes the amortized cost of debt securities held to maturity at December 31, 2020, Credit Risk Profile by Credit Rating At December 31, 2020 AAA/AA/A BBB BB/B Total (In thousands) Agency residential MBS $ 240,332 $ - $ - $ 240,332 Non-agency residential MBS 331 - 1,013 1,344 Obligations of states and political subdivisions 243,999 25,844 4,079 273,922 Total $ 484,662 $ 25,844 $ 5,092 $ 515,598 There were no debt securities held to maturity on nonaccrual status or past due 30 December 31, 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 Years Ended December 31, 2020 2019 2018 (In thousands) Taxable $ 93,163 $ 77,800 $ 65,330 Tax-exempt from regular federal income tax 12,151 15,736 19,438 Total interest income from investment securities $ 105,314 $ 93,536 $ 84,768 |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 3: A summary of the major categories of loans outstanding is shown in the following tables at the dates indicated. At December 31, 2020 2019 (In thousands) Commercial: Paycheck Protection Program ("PPP") loans $ 186,945 $ - Other 207,861 222,085 Total commercial 394,806 222,085 Commercial Real Estate 564,300 578,758 Construction 129 1,618 Residential Real Estate 23,471 32,748 Consumer Installment & Other 273,537 291,455 Total $ 1,256,243 $ 1,126,664 The following summarizes activity in the allowance for loan losses/credit losses: Allowance for Credit Losses For the Year Ended December 31, 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) 746 929 (72 ) (27 ) 2,731 - 4,307 Chargeoffs (236 ) - - - (3,963 ) - (4,199 ) Recoveries 351 49 - - 1,845 - 2,245 Total allowance for credit losses $ 9,205 $ 5,660 $ 6 $ 47 $ 8,936 $ - $ 23,854 The growth in commercial loan balances was due to originations of PPP loans which are 100% not Allowance for Loan Losses For the Twelve Months Ended December 31, 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 (2,023 ) (16 ) (1,356 ) (663 ) 3,534 524 - Chargeoffs (97 ) - - - (4,473 ) - (4,570 ) Recoveries 768 196 - - 1,739 - 2,703 Total allowance for loan losses $ 4,959 $ 4,064 $ 109 $ 206 $ 6,445 $ 3,701 $ 19,484 Allowance for Loan Losses For the Twelve Months Ended December 31, 2018 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 $ 7,746 $ 3,849 $ 335 $ 995 $ 6,418 $ 3,666 $ 23,009 (Reversal) provision (2,369 ) 275 1,130 (126 ) 1,579 (489 ) - Chargeoffs (513 ) (240 ) - - (4,124 ) - (4,877 ) Recoveries 1,447 - - - 1,772 - 3,219 Total allowance for loan losses $ 6,311 $ 3,884 $ 1,465 $ 869 $ 5,645 $ 3,177 $ 21,351 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 December 31, 2020 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 386,144 $ 545,398 $ 129 $ 22,105 $ 270,925 $ 1,224,701 Substandard 8,662 18,902 - 1,366 1,498 30,428 Doubtful - - - - 543 543 Loss - - - - 571 571 Total $ 394,806 $ 564,300 $ 129 $ 23,471 $ 273,537 $ 1,256,243 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 December 31, 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 394,004 $ 713 $ 6 $ - $ 83 $ 394,806 Commercial real estate 560,580 - - - 3,720 564,300 Construction 129 - - - - 129 Residential real estate 22,269 770 271 - 161 23,471 Consumer installment and other 270,240 2,010 472 450 365 273,537 Total $ 1,247,222 $ 3,493 $ 749 $ 450 $ 4,329 $ 1,256,243 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 December 31, 2020. December 31, 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 Twelve Months Ended December 31, 2019 2018 Average Recognized Average Recognized Recorded Interest Recorded Interest Investment Income Investment Income (In thousands) Commercial $ 8,412 $ 140 $ 10,532 $ 667 Commercial real estate 7,428 139 11,703 758 Residential real estate 191 3 269 19 Consumer installment and other 44 1 254 14 Total $ 16,075 $ 283 $ 22,758 $ 1,458 The following tables provide information on troubled debt restructurings (TDRs): Troubled Debt Restructurings At December 31, 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 $ 6,040 $ - Residential real estate 1 241 181 - Total 7 $ 8,608 $ 6,221 $ - 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 year ended December 31, 2020, not 4013 19 December 31, 2020, 4013 90 December 31, 2020, December 31, 2020, December 31, 2019, not December 31, 2020 2019. December 31, 2020 2019, 12 ninety TDRs of $6,221 thousand included loans of $3,420 thousand on nonaccrual status at December 31, 2020. one December 31, 2020. Four December 31, 2020. December 31, 2020, 90 two no December 31, 2020. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: At December 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Commercial loans by grade Pass $ 24,998 $ 25,041 $ 10,669 $ 19,307 $ 41,672 $ 219,521 $ 341,208 $ 44,936 $ 386,144 Substandard 82 - - 13 - 7,584 7,679 983 8,662 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 25,080 $ 25,041 $ 10,669 $ 19,320 $ 41,672 $ 227,105 $ 348,887 $ 45,919 $ 394,806 At Decmber 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Commercial real estate loans by grade Pass $ 125,696 $ 42,237 $ 100,617 $ 93,243 $ 90,219 $ 93,386 $ 545,398 $ - $ 545,398 Substandard 6,009 9,905 105 - 2,043 840 18,902 - 18,902 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 131,705 $ 52,142 $ 100,722 $ 93,243 $ 92,262 $ 94,226 $ 564,300 $ - $ 564,300 At December 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Construction loans by grade Pass $ - $ - $ - $ - $ - $ - $ - $ 129 $ 129 Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ - $ - $ - $ - $ - $ - $ - $ 129 $ 129 At December 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Residential Real Estate loans by grade Pass $ 22,105 $ - $ - $ - $ - $ - $ 22,105 $ - $ 22,105 Substandard 1,366 - - - - - 1,366 - 1,366 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 23,471 $ - $ - $ - $ - $ - $ 23,471 $ - $ 23,471 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 December 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Consumer installment and other loans by delinquency and nonaccrual status Current $ 8,657 $ 15,766 $ 21,167 $ 47,359 $ 62,271 $ 86,953 $ 242,173 $ 28,067 $ 270,240 30-59 days past due 125 86 200 620 519 428 1,978 32 2,010 60-89 days past due 40 19 115 40 165 76 455 17 472 Past due 90 days or more 33 49 50 131 142 43 448 2 450 Nonaccrual - - - - - - - 365 365 Total $ 8,855 $ 15,920 $ 21,532 $ 48,150 $ 63,097 $ 87,500 $ 245,054 $ 28,483 $ 273,537 There were no loans held for sale at December 31, 2020 December 31, 2019. The Company held no other real estate owned (OREO) at December 31, 2020 December 31, 2019. December 31, 2019. December 31, 2019. December 31, 2020 December 31, 2019. |
Note 4 - Concentration of Credi
Note 4 - Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 4: Under the California Financial Code, credit extended to any one one not not not December 31, 2020, not one December 31, 2020, 3, December 31, 2020 December 31, 2019, no no December 31, 2020, |
Note 5 - Premises, Equipment, O
Note 5 - Premises, Equipment, Other Assets and Other Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | Note 5: Premises and equipment consisted of the following: At December 31, Cost Accumulated Depreciation and Amortization Net Book Value (In thousands) 2020 Land $ 11,453 $ - $ 11,453 Building and improvements 42,960 (28,922 ) 14,038 Leasehold improvements 6,944 (5,528 ) 1,416 Furniture and equipment 26,227 (20,321 ) 5,906 Total $ 87,584 $ (54,771 ) $ 32,813 2019 Land $ 11,691 $ - $ 11,691 Building and improvements 42,529 (28,353 ) 14,176 Leasehold improvements 6,219 (5,405 ) 814 Furniture and equipment 26,793 (18,877 ) 7,916 Total $ 87,232 $ (52,635 ) $ 34,597 Depreciation and amortization of premises and equipment included in noninterest expense amounted to $3,683 thousand in 2020, 2019 2018. Other assets consisted of the following: 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 60,444 57,810 Net deferred tax asset - 11,085 Right-of-use asset 18,832 17,136 Limited partnership investments 18,335 20,773 Interest receivable 33,022 28,797 Prepaid assets 4,572 3,737 Other assets 10,471 10,767 Total other assets $ 159,903 $ 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. December 31, 2020, fourth 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 December 31, 2020, December 31, 2019, December 31, 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027 The amounts recognized in net income for these investments include: For the Years Ended December 31, 2020 2019 2018 (In thousands) Investment loss included in pre-tax income $ 2,440 $ 2,400 $ 2,900 Tax credits recognized in provision for income taxes 900 875 1,121 Other liabilities consisted of the following: At December 31, 2020 2019 (In thousands) Net deferred tax liability $ 25,778 $ - Operating lease liability 18,832 17,136 Securities purchases pending settlement 29,000 - Other liabilities 38,988 27,453 Total other liabilities $ 112,598 $ 44,589 The deferred tax liability at December 31, 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 December 31, 2020. As of December 31, 2020, December 31, 2020. not December 31, 2020. Total lease costs during the year ended December 31, 2020 December 31, 2019, not December 31, 2020 December 31, 2019. The following table summarizes the remaining lease payments of operating lease liabilities: Minimum At December 31, 2020 (In thousands) 2021 $ 5,615 2022 4,691 2023 3,960 2024 2,337 2025 1,089 Thereafter 1,968 Total minimum lease payments 19,660 Less: discount (828 ) Present value of lease liability $ 18,832 |
Note 6 - Goodwill and Identifia
Note 6 - Goodwill and Identifiable Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 6: The Company has recorded goodwill and other identifiable intangibles associated with purchase business combinations. Goodwill is not not December 31, 2020 December 31, 2019. December 31, 2020 December 31, 2019 no The carrying values of goodwill were: At December 31, 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 December 31, 2020 At December 31, 2019 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core deposit intangibles $ 56,808 $ (55,704 ) $ 56,808 $ (55,417 ) As of December 31, 2020, 2025, Total Core Deposit Intangibles (In thousands) For the year ended December 31, 2020 (actual) $ 287 Estimate for year ending December 31, 2021 269 2022 252 2023 236 2024 222 2025 125 |
Note 7 - Deposits and Borrowed
Note 7 - Deposits and Borrowed Funds | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Deposits and Borrowed Funds [Text Block] | Note 7: The following table provides additional detail regarding deposits. Deposits At December 31, 2020 2019 (In thousands) Noninterest-bearing $ 2,725,177 $ 2,240,112 Interest-bearing: Transaction 1,102,601 931,888 Savings 1,703,812 1,471,284 Time deposits less than $100 thousand 79,825 88,355 Time deposits $100 thousand through $250 thousand 49,323 54,874 Time deposits more than $250 thousand 27,241 26,108 Total deposits $ 5,687,979 $ 4,812,621 Demand deposit overdrafts of $682 thousand and $1,055 thousand were included as loan balances at December 31, 2020 December 31, 2019, $100 2020, 2019 2018. The following table provides additional detail regarding short-term borrowed funds. Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At December 31, 2020 2019 Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ - $ 65,833 Agency residential MBS 67,019 52,485 Corporate securities 188,195 146,253 Total collateral carrying value $ 255,214 $ 264,571 Total short-term borrowed funds $ 102,545 $ 30,928 For the Years Ended December 31, 2020 2019 Highest Balance at Any Month-end (In thousands) Securities sold under repurchase agreements $ 110,846 $ 61,411 |
Note 8 - Shareholders' Equity
Note 8 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 8: The Company grants stock options and restricted performance shares to employees in exchange for employee services, pursuant to the shareholder-approved 2019 2019 April 25, 2019, 1995 2012. three ten three three The following table summarizes information about stock options granted under the Plan as of December 31, 2020. December 31, 2020 December 31, 2020 Options Outstanding Options Exercisable At December 31, 2020 For the Year Ended December 31, 2020 At December 31, 2020 For the Year Ended December 31, 2020 Range of Exercise Price Number Outstanding Aggregate Intrinsic Value Weighted Average Remaining Contractual Life Weighted Average Exercise Price Number Exercisable Aggregate Intrinsic Value Weighted Average Remaining Contractual Life Weighted Average Exercise Price (In thousands) (Years) (In thousands) (Years) $40 - 45 46 $ 586 4.6 $ 43 46 $ 586 4.6 $ 43 45 - 50 - - - - - - - - 50 - 55 19 36 3.1 53 19 36 3.1 53 55 - 60 90 - 6.1 57 90 - 6.1 57 60 - 65 353 7.6 62 165 7.4 62 65 - 70 185 - 9.1 66 - - - - $40 - 70 693 $ 622 7.5 61 320 $ 622 6.4 58 The Company applies the Roll-Geske option pricing model (Modified Roll) to determine grant date fair value of stock option grants. This model modifies the Black-Scholes Model to take into account dividends and American options. During the year ended December 31, 2020, 2019 2018, For the Years Ended December 31, 2020 2019 2018 Expected volatility (1) 20 % 20 % 20 % Expected life in years (2) 3.5 4.7 4.8 Risk-free interest rate (3) 1.52 % 2.67 % 2.50 % Expected dividend yield 2.59 % 2.55 % 2.65 % Fair value per award $ 8.64 $ 10.19 $ 9.98 ( 1 Measured using daily price changes of Company’s stock over respective expected term of the option and the implied volatility derived from the market prices of the Company’s stock and traded options. ( 2 The number of years that the Company estimates that the options will be outstanding prior to exercise. ( 3 The risk-free rate over the expected life based on the US Treasury yield curve in effect at the time of the grant. Employee stock option grants are being expensed by the Company over the grants’ three December 31, 2020 A summary of option activity during the year ended December 31, 2020 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In thousands) (Years) Outstanding at January 1, 2020 561 $ 58.75 Granted 184 66.41 Exercised (52 ) 52.92 Forfeited or expired - - Outstanding at December 31, 2020 693 61.25 7.5 Exercisable at December 31, 2020 320 57.51 6.4 A summary of the Company’s nonvested option activity during the year ended December 31, 2020 Shares Weighted Average Grant Date Fair Value (In thousands) Nonvested at January 1, 2020 372 $ 9.81 Granted 184 8.64 Vested (183 ) 9.50 Forfeited - - Nonvested at December 31, 2020 373 $ 9.39 The weighted average estimated grant date fair value for options granted under the Company’s stock option plan during the twelve December 31, 2020, 2019 2018 December 31, 2020 The total intrinsic value of options exercised during the twelve December 31, 2020, 2019 2018 twelve December 31, 2020, 2019 2018 twelve December 31, 2020, 2019 2018 twelve 2020, twelve 2019, twelve 2018, 2020, 2019 2018. A summary of the status of the Company’s restricted performance shares as of December 31, 2020 2019 twelve 2020 2019 (In thousands) Outstanding at January 1, 27 39 Granted 10 10 Issued upon vesting (9 ) (17 ) Forfeited - (5 ) Outstanding at December 31, 28 27 As of December 31, 2020 2019, 1.0 December 31, 2020, 2019 2018, December 31, 2020 2019. On February 13, 2009, may not January 29, 2019, The Company repurchases and retires its common stock in accordance with Board of Directors approved share repurchase programs. At December 31, 2020, Shareholders have authorized two additional classes of stock of one million December 31, 2020, |
Note 9 - Regulatory Capital
Note 9 - Regulatory Capital | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 9: Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can result in regulatory action. The Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (Basel III rules) require the Company to maintain a capital conservation buffer of 2.5% above the adequately capitalized risk-based capital ratios to avoid restrictions on dividends and equity repurchases and other payments such as discretionary bonuses to executive officers. The net unrealized gain or loss on available for sale securities is not December 31, 2020 December 31, 2019, Prompt corrective action regulations provide five not 2020 2019, no The capital ratios for the Company and the Bank as of the dates indicated are presented in the table below. For Common Equity Tier 1 1 2.5% At December 31, 2020 Required To Be Well-capitalized Amount Ratio Amount Ratio Amount Ratio ($ in thousands) Common Equity Tier 1 Capital Company $ 604,833 16.04 % $ 263,903 7.00 % N/A N/A Bank 484,270 13.00 % 260,755 7.00 % $ 242,130 6.50 % Tier 1 Capital Company 604,833 16.04 % 320,454 8.50 % N/A N/A Bank 484,270 13.00 % 316,632 8.50 % 298,006 8.00 % Total Capital Company 628,797 16.68 % 395,855 10.50 % N/A N/A Bank 514,234 13.80 % 391,133 10.50 % 372,508 10.00 % Leverage Ratio (1) Company 604,833 9.40 % 257,488 4.00 % N/A N/A Bank 484,270 7.58 % 255,560 4.00 % 319,451 5.00 % ( 1 The leverage ratio consists of Tier 1capital At December 31, 2019 Required To Be Well-capitalized Amount Ratio Amount Ratio Amount Ratio ($ in thousands) Common Equity Tier 1 Capital Company $ 579,216 16.22 % $ 249,976 7.00 % N/A N/A Bank 415,730 11.80 % 246,671 7.00 % $ 229,052 6.50 % Tier 1 Capital Company 579,216 16.22 % 303,542 8.50 % N/A N/A Bank 415,730 11.80 % 299,529 8.50 % 281,910 8.00 % Total Capital Company 600,860 16.83 % 374,964 10.50 % N/A N/A Bank 443,374 12.58 % 370,007 10.50 % 352,388 10.00 % Leverage Ratio (1) Company 579,216 10.50 % 220,755 4.00 % N/A N/A Bank 415,730 7.60 % 218,851 4.00 % 273,564 5.00 % ( 1 The leverage ratio consists of Tier 1capital |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 10: Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the amounts reported in the financial statements of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Amounts for the current year are based upon estimates and assumptions as of the date of these financial statements and could vary significantly from amounts shown on the tax returns as filed. Net deferred tax assets are included with other assets in the consolidated balance sheets. The components of the net deferred tax asset are as follows: At December 31, 2020 2019 (In thousands) Deferred tax asset Allowance for credit losses $ 6,789 $ 6,326 State franchise taxes 2,262 1,948 Deferred compensation 4,789 5,118 Real estate owned - 400 Purchased assets and assumed liabilities 552 406 Post-retirement benefits 480 517 Employee benefit accruals 2,353 1,875 VISA Class B shares 284 263 Limited partnership investments 1,066 1,228 Impaired capital assets 2,429 2,875 Accrued liabilities 416 1,606 Premises and equipment 585 261 Other 800 377 Sub total deferred tax asset 22,805 23,200 Tax valuation - (269 ) Total deferred tax asset 22,805 22,931 Deferred tax liability Net deferred loan fees 106 239 Securities available for sale 48,021 10,934 Intangible assets 456 673 Total deferred tax liability 48,583 11,846 Net deferred tax asset (liability) $ (25,778 ) $ 11,085 At December 31, 2020 December 31, 2019, five December 31, 2020 December 31, 2019, The provision for federal and state income taxes consists of amounts currently payable and amounts deferred are as follows: For the Years Ended December 31, 2020 2019 2018 (In thousands) Current income tax expense: Federal $ 15,982 $ 11,570 $ 10,560 State 10,654 9,595 9,816 Total current 26,636 21,165 20,376 Deferred income tax (benefit) expense: Federal (538 ) 2,340 (206 ) State 292 1,322 (737 ) Total deferred (246 ) 3,662 (943 ) Provision for income taxes $ 26,390 $ 24,827 $ 19,433 The provision for income taxes differs from the provision computed by applying the statutory federal income tax rate to income before taxes, as follows: For the Years Ended December 31, 2020 2019 2018 (In thousands) Federal income taxes due at statutory rate $ 22,429 $ 22,095 $ 19,109 Additions (reductions) in income taxes resulting from: Interest on state and municipal securities and loans not taxable for federal income tax purposes (2,808 ) (3,584 ) (4,375 ) State franchise taxes, net of federal income tax benefit 8,647 8,625 7,173 Stock compensation deduction in excess of book expense (62 ) (312 ) (528 ) Tax credits (1,061 ) (1,040 ) (1,291 ) Dividend received deduction (44 ) (38 ) (32 ) Cash value life insurance (383 ) (464 ) (490 ) Other (328 ) (455 ) (133 ) Provision for income taxes $ 26,390 $ 24,827 $ 19,433 A reconciliation of the beginning and ending amounts of unrecognized tax benefits follow: 2020 2019 (In thousands) Balance at January 1, $ - $ 909 Additions for tax positions taken in the current period - - Reductions for tax positions taken in the current period - - Additions for tax positions taken in prior years - - Reductions for tax positions taken in prior years - - Decrease related to settlements with taxing authorities - (909 ) Decrease as a result of a lapse in statute of limitations - - Balance at December 31, $ - $ - In the second 2019, December 31, 2020 December 31, 2019, The Company classifies interest and penalties as a component of the provision for income taxes. For tax years 2020 2019, December 31, 2020, December 31, 2019, 2018 2017 December 31, 2019, 2018, 2017, 2016 |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 11: 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 December 31, 2020 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (1) (In thousands) Debt securities available for sale Agency residential mortgage-backed securities (MBS) $ 652,952 $ - $ 652,952 $ - Securities of U.S. Government entities 154 - 154 - Obligations of states and political subdivisions 111,010 - 111,010 - Corporate securities 2,117,978 - 2,117,978 - Commercial paper 24,990 - 24,990 - Collateralized loan obligations 1,156,101 - 1,156,101 - Total debt securities available for sale $ 4,063,185 $ - $ 4,063,185 $ - ( 1 There were no 3 December 31, 2020. At December 31, 2019 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (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 There were no 3 December 31, 2019. Assets Recorded at Fair Value on a Nonrecurring Basis The Company may December 31, 2020 December 31, 2019, For the Year Ended At December 31, 2020 December 31, 2020 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ - $ - $ - $ - $ - Loans: Commercial 5,270 - - 5,270 - Commercial real estate 3,710 - - 3,710 - Residential real estate 181 - - 181 - Total assets measured at fair value on a nonrecurring basis $ 9,161 $ - $ - $ 9,161 $ - For the Year 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 December 31, 2020 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 621,275 $ 621,275 $ 621,275 $ - $ - Debt securities held to maturity 515,589 529,678 - 529,678 - Loans 1,232,389 1,290,938 - - 1,290,938 Financial Liabilities: Deposits $ 5,687,979 $ 5,688,049 $ - $ 5,531,590 $ 156,459 Short-term borrowed funds 102,545 102,545 - 102,545 - At December 31, 2019 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs 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 12 - Commitments and Conti
Note 12 - Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 12: Loan commitments are agreements to lend to a customer provided there is no not December 31, 2020. not December 31, 2020 December 31, 2019. December 31, 2020 December 31, 2019. December 31, 2020 December 31, 2019. 3 rd December 31, 2020 December 31, 2019, 2016 13 January 1, 2020. December 31, 2020, not 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, December 31, 2020, December 31, 2020 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 13 - Retirement Benefit Pl
Note 13 - Retirement Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | Note 13: The Company sponsors a qualified defined contribution Deferred Profit-Sharing Plan covering substantially all of its salaried employees with one 2020, 2019 2018. The Company also sponsors a qualified defined contribution Tax Deferred Savings/Retirement Plan (ESOP) covering salaried employees who become eligible to participate upon completion of a 90 may one 2020, 2019 2018. The Company offers a continuation of group insurance coverage to eligible employees electing early retirement, for the period from the date of retirement until age 65. 65 February 1, 2006 January 1, 2021. December 31 The following tables set forth the net periodic post-retirement benefit cost and the change in the benefit obligation for the year ended December 31 December 31: Net Periodic Benefit Cost At December 31, 2020 2019 2018 (In thousands) Service ( benefit) cost $ (35 ) $ (57 ) $ 24 Interest cost 52 72 72 Amortization of unrecognized transition obligation - - - Net periodic cost (benefit) $ 17 $ 15 $ 96 Other Changes in Benefit Obligations Recognized in Other Comprehensive Income Amortization of unrecognized transition obligation, net of tax - - - Total recognized in net periodic cost (benefit) and accumulated other comprehensive income $ 17 $ 15 $ 96 The transition obligation for this post-retirement benefit plan became fully amortized during the year ended December 31, 2017. Obligation and Funded Status At December 31, 2020 2019 2018 Change in benefit obligation (In thousands) Benefit obligation at beginning of year $ 1,782 $ 1,913 $ 1,958 Service (benefit) cost (35 ) (57 ) 24 Interest cost 52 72 72 Benefits paid (145 ) (146 ) (141 ) Benefit obligation at end of year $ 1,654 $ 1,782 $ 1,913 Accumulated post-retirement benefit obligation attributable to: Retirees $ 1,654 $ 1,782 $ 1,913 Other - - - Total $ 1,654 $ 1,782 $ 1,913 Fair value of plan assets - - - Accumulated post-retirement benefit obligation in excess of plan assets $ 1,654 $ 1,782 $ 1,913 Additional Information Assumptions At December 31, 2020 2019 2018 Weighted-average assumptions used to determine benefit obligations Discount rate 1.80 % 2.90 % 3.76 % Weighted-average assumptions used to determine net periodic benefit cost Discount rate 2.90 % 3.76 % 3.70 % The above discount rate is based on the expected return of a portfolio of Corporate Aa debt, the term of which approximates the term of the benefit obligations. The Company reserves the right to terminate or alter post-employment health benefits. Post-retirement medical benefits are currently fixed amounts without provision for future increases; as a result, the assumed annual average rate of inflation used to measure the expected cost of benefits covered by this program is zero 2021 Estimated future benefit payments (In thousands) 2021 $ 153 2022 153 2023 153 2024 151 2025 146 Years 2026-2030 589 |
Note 14 - Related Party Transac
Note 14 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 14: Certain of the Directors, executive officers and their associates have had banking transactions with subsidiaries of the Company in the ordinary course of business. The table below reflects information concerning loans to certain directors and executive officers and/or family members during 2020 2019: 2020 2019 (In thousands) Balance at January 1, $ 533 $ 577 Originations - - Principal reductions (34 ) (44 ) Balance at December 31, $ 499 $ 533 Percent of total loans outstanding. 0.04 % 0.05 % |
Note 15 - Regulatory Matters
Note 15 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Regulatory Matters [Text Block] | Note 15: Payment of dividends to the Company by the Bank is limited under regulations for state chartered banks. The amount that can be paid in any calendar year, without prior approval from regulatory agencies, cannot exceed the net profits (as defined) for the preceding three 1972. |
Note 16 - Other Comprehensive I
Note 16 - Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 16: The components of other comprehensive income (loss) and other related tax effects were: 2020 Before tax Tax effect Net of tax (In thousands) Debt securities available for sale: Net unrealized gains arising during the year $ 125,519 $ (37,108 ) $ 88,411 Reclassification of gains included in net income (71 ) 21 (50 ) Other comprehensive income $ 125,448 $ (37,087 ) $ 88,361 2019 Before tax Tax effect Net of tax (In thousands) Debt securities available for sale: Net unrealized gains arising during the year $ 93,936 $ (27,771 ) $ 66,165 Reclassification of gains included in net income (167 ) 49 (118 ) Other comprehensive income $ 93,769 $ (27,722 ) $ 66,047 2018 Before tax Tax effect Net of tax (In thousands) Debt securities available for sale: Net unrealized losses arising during the year $ (27,939 ) $ 8,258 $ (19,681 ) Reclassification of losses included in net income - - - Other comprehensive loss $ (27,939 ) $ 8,258 $ (19,681 ) Accumulated other comprehensive income (loss) balances were: Accumulated Other Comprehensive (Loss) Income Balance, December 31, 2017 $ (16,832 ) Cumulative effect of equity securities losses reclassified 142 Adjusted Balance, January 1, 2018 (16,690 ) Reclass stranded tax effects resulting from the Tax Cuts and Jobs Act of2017 (3,625 ) Changes in unrealized gains (losses) on debt securities available for sale, net of tax (19,681 ) Balance, December 31, 2018 (39,996 ) Changes in unrealized gains (losses) on debt securities available for sale, net of tax 66,047 Balance, December 31, 2019 26,051 Changes in unrealized gains (losses) on debt securities available for sale, net of tax 88,361 Balance, December 31, 2020 114,412 |
Note 17 - Earnings Per Common S
Note 17 - Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 17: 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 Years Ended December 31, 2020 2019 2018 (In thousands, except per share data) Net income (numerator) $ 80,413 $ 80,389 $ 71,564 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 26,942 26,956 26,649 Basic earnings per common share $ 2.98 $ 2.98 $ 2.69 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,942 26,956 26,649 Add common stock equivalents for options 18 50 107 Weighted average number of common shares outstanding - diluted (denominator) 26,960 27,006 26,756 Diluted earnings per common share $ 2.98 $ 2.98 $ 2.67 For the years ended December 31, 2020, 2019 2018, not |
Note 18 - Westamerica Bancorpor
Note 18 - Westamerica Bancorporation (Parent Company Only Condensed Financial Information) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 18: Statements of Income and Comprehensive Income For the Years Ended December 31, 2020 2019 2018 (In thousands) Dividends from subsidiaries $ 10,783 $ 80,067 $ 43,892 Interest income 56 54 33 Other income 11,438 8,778 9,447 Total income 22,277 88,899 53,372 Salaries and benefits 7,107 6,978 7,575 Other expense 2,206 3,729 3,181 Total expense 9,313 10,707 10,756 Income before taxes and equity in undistributed income of subsidiaries 12,964 78,192 42,616 Income tax (expense) benefit (454 ) 636 919 Earnings of subsidiaries greater than subsidiary dividends 67,903 1,561 28,029 Net income 80,413 80,389 71,564 Other comprehensive income (loss), net of tax 88,361 66,047 (19,681 ) Comprehensive income $ 168,774 $ 146,436 $ 51,883 Balance Sheets At December 31, 2020 2019 (In thousands) Assets Cash $ 78,364 $ 122,663 Investment in Westamerica Bank 730,248 573,931 Investment in non-bank subsidiaries 455 455 Premises and equipment, net 10,459 11,006 Accounts receivable from Westamerica Bank 257 231 Other assets 40,852 37,645 Total assets $ 860,635 $ 745,931 Liabilities Accounts payable to Westamerica Bank $ 29 $ 33 Other liabilities 15,797 14,481 Total liabilities 15,826 14,514 Shareholders' equity 844,809 731,417 Total liabilities and shareholders' equity $ 860,635 $ 745,931 Statements of Cash Flows For the Years Ended December 31, 2020 2019 2018 (In thousands) Operating Activities Net income $ 80,413 $ 80,389 $ 71,564 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 608 449 361 (Increase) decrease in accounts receivable from affiliates (150 ) 80 (43 ) Increase in other assets (2,421 ) (71 ) (2,638 ) Stock option compensation expense 1,875 1,744 1,988 Provision (benefit) for deferred income tax 428 (315 ) 5,028 Increase in other liabilities 855 856 978 Earnings of subsidiaries greater than subsidiary dividends (67,903 ) (1,561 ) (28,029 ) Life insurance gains - - (585 ) Gain on disposal of premises and equipment (61 ) (1,055 ) (538 ) Net Cash Provided by Operating Activities 13,644 80,516 48,086 Investing Activities Proceeds from life insurance policies - - 1,169 Net Cash Provided by Investing Activities - - 1,169 Financing Activities Exercise of stock options 2,838 13,699 13,373 Retirement of common stock (16,496 ) (488 ) (524 ) Common stock dividends paid (44,285 ) (43,942 ) (42,635 ) Net Cash Used in Financing Activities (57,943 ) (30,731 ) (29,786 ) Net change in cash and due from banks (44,299 ) 49,785 19,469 Cash and due from banks at beginning of period 122,663 72,878 53,409 Cash and due from banks at end of period $ 78,364 $ 122,663 $ 72,878 Supplemental Cash Flow Disclosures: Supplemental disclosure of cash flow activities: Interest paid for the period $ - $ - $ - Income tax payments for the period 26,462 24,491 13,627 |
Note 19 - Quarterly Financial I
Note 19 - Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 19: For the Three Months Ended March 31, June 30, September 30, December 31, (In thousands, except per share data and price range of common stock) 2020 Interest and loan fee income $ 39,991 $ 41,539 $ 41,365 $ 42,961 Net interest income 39,549 41,104 40,899 42,480 Provision for loan losses 4,300 - - - Noninterest income 11,648 9,554 10,476 13,959 Noninterest expense 24,664 24,754 24,603 24,545 Income before taxes 22,233 25,904 26,772 31,894 Net income 16,962 19,562 20,051 23,838 Basic earnings per common share 0.63 0.72 0.74 0.89 Diluted earnings per common share 0.63 0.72 0.74 0.89 Dividends paid per common share 0.41 0.41 0.41 0.41 Price range, common stock 47.37 - 68.01 53.40 - 64.86 51.84 - 63.58 51.49 - 59.70 2019 Interest and loan fee income $ 39,483 $ 39,626 $ 39,695 $ 39,878 Net interest income 38,989 39,139 39,240 39,427 Provision for loan losses - - - - Noninterest income 11,579 12,288 11,809 11,732 Noninterest expense 25,183 25,561 24,033 24,209 Income before taxes 25,385 25,866 27,016 26,950 Net income 19,646 19,625 20,390 20,728 Basic earnings per common share 0.73 0.73 0.76 0.77 Diluted earnings per common share 0.73 0.73 0.75 0.77 Dividends paid per common share 0.40 0.41 0.41 0.41 Price range, common stock 56.82 - 64.48 59.51 - 64.82 59.26 - 64.56 60.65 - 68.58 2018 Interest and loan fee income $ 36,315 $ 37,346 $ 38,614 $ 39,448 Net interest income 35,856 36,887 38,087 38,934 Provision for loan losses - - - - Noninterest income 11,955 11,769 12,528 11,897 Noninterest expense 26,022 25,741 29,366 25,787 Income before taxes 21,789 22,915 21,249 25,044 Net income 17,506 18,010 16,993 19,055 Basic earnings per common share 0.66 0.68 0.64 0.71 Diluted earnings per common share 0.66 0.67 0.63 0.71 Dividends paid per common share 0.40 0.40 0.40 0.40 Price range, common stock 55.72 - 62.52 55.81 - 60.68 57.56 - 64.52 52.75 - 63.20 |
Note 20 - Impact of COVID-19
Note 20 - Impact of COVID-19 | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Effect of Covid-19 Pandemic [Text Block] | Note 20: 19 The COVID- 19 The COVID- 19 first 2020 fourth 2020 may March 19, 2020, second third 2020 fourth 2020 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 2020, December 31, 2020. On April 7, 2020, 19 December 31, 2020, On December 27, 2020, 2020 $900 $284 second The extent of the spread of the coronavirus, its ultimate containment and its continuing effects on the economy and the Company are uncertain at this time. The effectiveness of the Federal Reserve Board'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. There are no 19 may one Declines in Oil Prices Could Have an Impact on the Company's Financial Condition and Results of Operations Declines in oil prices could negatively affect the financial results of industrial sector-based and energy sector-based corporate issuers of corporate bonds owned by the Company. The Company’s corporate debt securities include 14 issuers in industrial and energy sectors with aggregate amortized cost of $275.1 million and fair value of $291.9 million at December 31, 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) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Accounting Estimates. Certain accounting policies underlying the preparation of these financial statements require Management to make 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 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 fair value of an asset not third may |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation. The consolidated financial statements include the accounts of the Company and all the Company’s subsidiaries. Significant intercompany transactions have been eliminated in consolidation. The Company does not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash. Cash includes Due From Banks balances which are readily convertible to known amounts of cash and are generally 90 |
Marketable Securities, Policy [Policy Text Block] | Equity Securities. Equity securities consist of marketable equity securities and mutual funds which are recorded at fair value. Unrealized gains and losses are included in net income. 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, collateralized loan obligations and commercial paper. 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 Available for sale debt securities in unrealized loss positions are evaluated for credit related loss at least quarterly. For available for sale 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 debt 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 days delinquent with respect to interest or principal, unless they are well secured and in the process of collection, and other loans on which full recovery of principal or interest is in doubt, are placed on nonaccrual status. Interest previously accrued on loans placed on nonaccrual status is charged against interest income. In addition, some loans secured by real estate and commercial loans to borrowers experiencing financial difficulties are placed on nonaccrual status even though the borrowers continue to repay the loans as scheduled. When the ability to fully collect nonaccrual loan principal is in doubt, payments received are applied against the principal balance of the loans on a cost-recovery method until such time as full collection of the remaining recorded balance is expected. Any additional interest payments received after that time are recorded as interest income on a cash basis. Nonaccrual loans are reinstated to accrual status when none 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.The 2021, may not January 1, 2022. |
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 Nonrefundable fees and certain costs associated with originating or acquiring loans are deferred and amortized as an adjustment to interest income over the contractual loan lives. Upon prepayment, unamortized loan fees, net of costs, are immediately recognized in interest income. Other fees, including those collected upon principal prepayments, are included in interest income when received. Loans held for sale are identified upon origination and are reported at the lower of cost or market value on an aggregate loan basis. |
Financing Receivable, Real Estate Acquired Through Foreclosure [Policy Text Block] | Other Real Estate Owned. Other real estate owned is comprised of property acquired through foreclosure proceedings, acceptances of deeds-in-lieu of foreclosure and, if applicable, vacated bank properties. Losses recognized at the time of acquiring property in full or partial satisfaction of debt are charged against the allowance for credit losses. Other real estate owned is recorded at the fair value of the collateral, generally based upon an independent property appraisal, less estimated disposition costs. Losses incurred subsequent to acquisition due to any decline in annual independent property appraisals are recognized as noninterest expense. Routine holding costs, such as property taxes, insurance and maintenance, and losses from sales and dispositions, are recognized as noninterest expense. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment. Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed substantially on the straight-line method over the estimated useful life of each type of asset. Estimated useful lives of premises and equipment range from 20 to 50 years and from 3 to 20 years, respectively. Leasehold improvements are amortized over the terms of the lease or their estimated useful life, whichever is shorter. |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition. The Company recognizes revenue as it is earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. In certain circumstances, noninterest income is reported net of associated expenses that are directly related to variable volume-based sales or revenue sharing arrangements or when the Company acts on an agency basis for others. |
Life Insurance Cash Surrender Value [Policy Text Block] | Life Insurance Cash Surrender Value. The Company has purchased life insurance policies on certain directors and officers as well as acquired such assets as part of the acquisition of other banks. Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. These assets are included in other assets on the consolidated balance sheets. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Intangible Assets. Intangible assets are comprised of goodwill, core deposit intangibles and other identifiable intangibles acquired in business combinations. Intangible assets with finite useful lives are amortized on an accelerated basis over their respective estimated useful lives not not not not |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets. The Company reviews its long-lived and certain intangible assets for impairment whenever events or changes indicate that the carrying amount of an asset may not |
Income Tax, Policy [Policy Text Block] | Income Taxes. The Company and its subsidiaries file consolidated tax returns. The Company accounts for income taxes in accordance with FASB ASC 740, two not. not fifty |
Share-based Payment Arrangement [Policy Text Block] | Stock-based Compensation. The Company applies FASB ASC 718 no |
Fiduciary [Policy Text Block] | Other. Securities and other property held by the Bank in a fiduciary or agency capacity are not not |
Currently Adopted Accounting Pronouncements [Policy Text Block] | Recently Adopted Accounting Standards In 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 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] | Recently Issued Accounting Standards FASB ASU 2019 12 Income Taxes (Topic 740 December 2019. 740 December 15, 2020, January 1, 2021 not 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 1 - Business and Account_2
Note 1 - Business and Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 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 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Debt Securities, Available-for-sale and Held-to-maturity [Table Text Block] | At December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale Agency residential mortgage-backed securities ("MBS") $ 630,174 $ 22,779 $ (1 ) $ 652,952 Securities of U.S. Government entities 154 - - 154 Obligations of states and political subdivisions 105,679 5,332 (1 ) 111,010 Corporate securities 1,986,995 131,025 (42 ) 2,117,978 Commercial paper 24,983 7 0 24,990 Collateralized loan obligations 1,152,766 4,433 (1,098 ) 1,156,101 Total debt securities available for sale 3,900,751 163,576 (1,142 ) 4,063,185 Debt securities held to maturity Agency residential MBS 240,332 6,852 (32 ) 247,152 Non-agency residential MBS 1,344 26 - 1,370 Obligations of states and political subdivisions 273,922 7,243 - 281,165 Total debt securities held to maturity 515,598 14,121 (32 ) 529,687 Total $ 4,416,349 $ 177,697 $ (1,174 ) $ 4,592,872 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 December 31, 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 $ 212,140 $ 213,715 $ 54,526 $ 54,927 Over 1 to 5 years 922,170 974,438 129,786 133,195 Over 5 to 10 years 1,767,747 1,851,184 89,610 93,043 Over 10 years 368,520 370,896 - - Subtotal 3,270,577 3,410,233 273,922 281,165 MBS 630,174 652,952 241,676 248,522 Total $ 3,900,751 $ 4,063,185 $ 515,598 $ 529,687 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 December 31, 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 $ 96 $ (1 ) 1 $ 17 $ - 2 $ 113 $ (1 ) Securities of U.S. 1 154 - - - - 1 154 - Obligations of states 2 692 (1 ) - - - 2 692 (1 ) Corporate securities - - - 1 14,963 (42 ) 1 14,963 (42 ) Collateralized loan 36 268,584 (1,098 ) - - - 36 268,584 (1,098 ) Total 40 $ 269,526 $ (1,100 ) 2 $ 14,980 $ (42 ) 42 $ 284,506 $ (1,142 ) Debt Securities Held to Maturity At December 31, 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 3 $ 377 $ (1 ) 3 $ 788 $ (31 ) 6 $ 1,165 $ (32 ) 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. 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. - - - 2 544 (9 ) 2 544 (9 ) Obligations of states - - - 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 - - - 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 Year Ended December 31, 2020 (In thousands) Allowance for credit losses: Beginning balance, prior to adoption of ASU 2016-13 $ - Impact of adopting ASU 2016-13 16 Reversal (7 ) Chargeoffs - Recoveries - Total ending balance $ 9 |
Debt Securities, Held-to-maturity, Credit Quality Indicator [Table Text Block] | Credit Risk Profile by Credit Rating At December 31, 2020 AAA/AA/A BBB BB/B Total (In thousands) Agency residential MBS $ 240,332 $ - $ - $ 240,332 Non-agency residential MBS 331 - 1,013 1,344 Obligations of states and political subdivisions 243,999 25,844 4,079 273,922 Total $ 484,662 $ 25,844 $ 5,092 $ 515,598 |
Interest Income from Investments [Table Text Block] | For the Years Ended December 31, 2020 2019 2018 (In thousands) Taxable $ 93,163 $ 77,800 $ 65,330 Tax-exempt from regular federal income tax 12,151 15,736 19,438 Total interest income from investment securities $ 105,314 $ 93,536 $ 84,768 |
Note 3 - Loans and Allowance _2
Note 3 - Loans and Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Loans Receivable [Table Text Block] | At December 31, 2020 2019 (In thousands) Commercial: Paycheck Protection Program ("PPP") loans $ 186,945 $ - Other 207,861 222,085 Total commercial 394,806 222,085 Commercial Real Estate 564,300 578,758 Construction 129 1,618 Residential Real Estate 23,471 32,748 Consumer Installment & Other 273,537 291,455 Total $ 1,256,243 $ 1,126,664 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Allowance for Credit Losses For the Year Ended December 31, 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) 746 929 (72 ) (27 ) 2,731 - 4,307 Chargeoffs (236 ) - - - (3,963 ) - (4,199 ) Recoveries 351 49 - - 1,845 - 2,245 Total allowance for credit losses $ 9,205 $ 5,660 $ 6 $ 47 $ 8,936 $ - $ 23,854 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Allowance for Loan Losses For the Twelve Months Ended December 31, 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 (2,023 ) (16 ) (1,356 ) (663 ) 3,534 524 - Chargeoffs (97 ) - - - (4,473 ) - (4,570 ) Recoveries 768 196 - - 1,739 - 2,703 Total allowance for loan losses $ 4,959 $ 4,064 $ 109 $ 206 $ 6,445 $ 3,701 $ 19,484 Allowance for Loan Losses For the Twelve Months Ended December 31, 2018 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 $ 7,746 $ 3,849 $ 335 $ 995 $ 6,418 $ 3,666 $ 23,009 (Reversal) provision (2,369 ) 275 1,130 (126 ) 1,579 (489 ) - Chargeoffs (513 ) (240 ) - - (4,124 ) - (4,877 ) Recoveries 1,447 - - - 1,772 - 3,219 Total allowance for loan losses $ 6,311 $ 3,884 $ 1,465 $ 869 $ 5,645 $ 3,177 $ 21,351 |
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 December 31, 2020 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 386,144 $ 545,398 $ 129 $ 22,105 $ 270,925 $ 1,224,701 Substandard 8,662 18,902 - 1,366 1,498 30,428 Doubtful - - - - 543 543 Loss - - - - 571 571 Total $ 394,806 $ 564,300 $ 129 $ 23,471 $ 273,537 $ 1,256,243 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 December 31, 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 394,004 $ 713 $ 6 $ - $ 83 $ 394,806 Commercial real estate 560,580 - - - 3,720 564,300 Construction 129 - - - - 129 Residential real estate 22,269 770 271 - 161 23,471 Consumer installment and other 270,240 2,010 472 450 365 273,537 Total $ 1,247,222 $ 3,493 $ 749 $ 450 $ 4,329 $ 1,256,243 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 Twelve Months Ended December 31, 2019 2018 Average Recognized Average Recognized Recorded Interest Recorded Interest Investment Income Investment Income (In thousands) Commercial $ 8,412 $ 140 $ 10,532 $ 667 Commercial real estate 7,428 139 11,703 758 Residential real estate 191 3 269 19 Consumer installment and other 44 1 254 14 Total $ 16,075 $ 283 $ 22,758 $ 1,458 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Troubled Debt Restructurings At December 31, 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 $ 6,040 $ - Residential real estate 1 241 181 - Total 7 $ 8,608 $ 6,221 $ - 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 December 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Commercial loans by grade Pass $ 24,998 $ 25,041 $ 10,669 $ 19,307 $ 41,672 $ 219,521 $ 341,208 $ 44,936 $ 386,144 Substandard 82 - - 13 - 7,584 7,679 983 8,662 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 25,080 $ 25,041 $ 10,669 $ 19,320 $ 41,672 $ 227,105 $ 348,887 $ 45,919 $ 394,806 At Decmber 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Commercial real estate loans by grade Pass $ 125,696 $ 42,237 $ 100,617 $ 93,243 $ 90,219 $ 93,386 $ 545,398 $ - $ 545,398 Substandard 6,009 9,905 105 - 2,043 840 18,902 - 18,902 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 131,705 $ 52,142 $ 100,722 $ 93,243 $ 92,262 $ 94,226 $ 564,300 $ - $ 564,300 At December 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Construction loans by grade Pass $ - $ - $ - $ - $ - $ - $ - $ 129 $ 129 Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ - $ - $ - $ - $ - $ - $ - $ 129 $ 129 At December 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Residential Real Estate loans by grade Pass $ 22,105 $ - $ - $ - $ - $ - $ 22,105 $ - $ 22,105 Substandard 1,366 - - - - - 1,366 - 1,366 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 23,471 $ - $ - $ - $ - $ - $ 23,471 $ - $ 23,471 At December 31, 2020 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2016 2017 2018 2019 2020 Term Loans Cost Basis Total (In thousands) Consumer installment and other loans by delinquency and nonaccrual status Current $ 8,657 $ 15,766 $ 21,167 $ 47,359 $ 62,271 $ 86,953 $ 242,173 $ 28,067 $ 270,240 30-59 days past due 125 86 200 620 519 428 1,978 32 2,010 60-89 days past due 40 19 115 40 165 76 455 17 472 Past due 90 days or more 33 49 50 131 142 43 448 2 450 Nonaccrual - - - - - - - 365 365 Total $ 8,855 $ 15,920 $ 21,532 $ 48,150 $ 63,097 $ 87,500 $ 245,054 $ 28,483 $ 273,537 |
Note 5 - Premises, Equipment,_2
Note 5 - Premises, Equipment, Other Assets and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Premises and Equipment [Table Text Block] | At December 31, Cost Accumulated Depreciation and Amortization Net Book Value (In thousands) 2020 Land $ 11,453 $ - $ 11,453 Building and improvements 42,960 (28,922 ) 14,038 Leasehold improvements 6,944 (5,528 ) 1,416 Furniture and equipment 26,227 (20,321 ) 5,906 Total $ 87,584 $ (54,771 ) $ 32,813 2019 Land $ 11,691 $ - $ 11,691 Building and improvements 42,529 (28,353 ) 14,176 Leasehold improvements 6,219 (5,405 ) 814 Furniture and equipment 26,793 (18,877 ) 7,916 Total $ 87,232 $ (52,635 ) $ 34,597 |
Schedule of Other Assets [Table Text Block] | 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 60,444 57,810 Net deferred tax asset - 11,085 Right-of-use asset 18,832 17,136 Limited partnership investments 18,335 20,773 Interest receivable 33,022 28,797 Prepaid assets 4,572 3,737 Other assets 10,471 10,767 Total other assets $ 159,903 $ 164,332 |
Schedule of Amounts Recognized in Net Income [Table Text Block] | For the Years Ended December 31, 2020 2019 2018 (In thousands) Investment loss included in pre-tax income $ 2,440 $ 2,400 $ 2,900 Tax credits recognized in provision for income taxes 900 875 1,121 |
Other Liabilities [Table Text Block] | At December 31, 2020 2019 (In thousands) Net deferred tax liability $ 25,778 $ - Operating lease liability 18,832 17,136 Securities purchases pending settlement 29,000 - Other liabilities 38,988 27,453 Total other liabilities $ 112,598 $ 44,589 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Minimum At December 31, 2020 (In thousands) 2021 $ 5,615 2022 4,691 2023 3,960 2024 2,337 2025 1,089 Thereafter 1,968 Total minimum lease payments 19,660 Less: discount (828 ) Present value of lease liability $ 18,832 |
Note 6 - Goodwill and Identif_2
Note 6 - Goodwill and Identifiable Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | At December 31, 2020 At December 31, 2019 (In thousands) Goodwill $ 121,673 $ 121,673 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At December 31, 2020 At December 31, 2019 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core deposit intangibles $ 56,808 $ (55,704 ) $ 56,808 $ (55,417 ) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Total Core Deposit Intangibles (In thousands) For the year ended December 31, 2020 (actual) $ 287 Estimate for year ending December 31, 2021 269 2022 252 2023 236 2024 222 2025 125 |
Note 7 - Deposits and Borrowe_2
Note 7 - Deposits and Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | Deposits At December 31, 2020 2019 (In thousands) Noninterest-bearing $ 2,725,177 $ 2,240,112 Interest-bearing: Transaction 1,102,601 931,888 Savings 1,703,812 1,471,284 Time deposits less than $100 thousand 79,825 88,355 Time deposits $100 thousand through $250 thousand 49,323 54,874 Time deposits more than $250 thousand 27,241 26,108 Total deposits $ 5,687,979 $ 4,812,621 |
Schedule of Repurchase Agreements [Table Text Block] | Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At December 31, 2020 2019 Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ - $ 65,833 Agency residential MBS 67,019 52,485 Corporate securities 188,195 146,253 Total collateral carrying value $ 255,214 $ 264,571 Total short-term borrowed funds $ 102,545 $ 30,928 |
Borrowed Funds Highest Month End Balance [Table Text Block] | For the Years Ended December 31, 2020 2019 Highest Balance at Any Month-end (In thousands) Securities sold under repurchase agreements $ 110,846 $ 61,411 |
Note 8 - Shareholders' Equity (
Note 8 - Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable At December 31, 2020 For the Year Ended December 31, 2020 At December 31, 2020 For the Year Ended December 31, 2020 Range of Exercise Price Number Outstanding Aggregate Intrinsic Value Weighted Average Remaining Contractual Life Weighted Average Exercise Price Number Exercisable Aggregate Intrinsic Value Weighted Average Remaining Contractual Life Weighted Average Exercise Price (In thousands) (Years) (In thousands) (Years) $40 - 45 46 $ 586 4.6 $ 43 46 $ 586 4.6 $ 43 45 - 50 - - - - - - - - 50 - 55 19 36 3.1 53 19 36 3.1 53 55 - 60 90 - 6.1 57 90 - 6.1 57 60 - 65 353 7.6 62 165 7.4 62 65 - 70 185 - 9.1 66 - - - - $40 - 70 693 $ 622 7.5 61 320 $ 622 6.4 58 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | For the Years Ended December 31, 2020 2019 2018 Expected volatility (1) 20 % 20 % 20 % Expected life in years (2) 3.5 4.7 4.8 Risk-free interest rate (3) 1.52 % 2.67 % 2.50 % Expected dividend yield 2.59 % 2.55 % 2.65 % Fair value per award $ 8.64 $ 10.19 $ 9.98 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In thousands) (Years) Outstanding at January 1, 2020 561 $ 58.75 Granted 184 66.41 Exercised (52 ) 52.92 Forfeited or expired - - Outstanding at December 31, 2020 693 61.25 7.5 Exercisable at December 31, 2020 320 57.51 6.4 |
Schedule of Nonvested Share Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value (In thousands) Nonvested at January 1, 2020 372 $ 9.81 Granted 184 8.64 Vested (183 ) 9.50 Forfeited - - Nonvested at December 31, 2020 373 $ 9.39 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | 2020 2019 (In thousands) Outstanding at January 1, 27 39 Granted 10 10 Issued upon vesting (9 ) (17 ) Forfeited - (5 ) Outstanding at December 31, 28 27 |
Note 9 - Regulatory Capital (Ta
Note 9 - Regulatory Capital (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | At December 31, 2020 Required To Be Well-capitalized Amount Ratio Amount Ratio Amount Ratio ($ in thousands) Common Equity Tier 1 Capital Company $ 604,833 16.04 % $ 263,903 7.00 % N/A N/A Bank 484,270 13.00 % 260,755 7.00 % $ 242,130 6.50 % Tier 1 Capital Company 604,833 16.04 % 320,454 8.50 % N/A N/A Bank 484,270 13.00 % 316,632 8.50 % 298,006 8.00 % Total Capital Company 628,797 16.68 % 395,855 10.50 % N/A N/A Bank 514,234 13.80 % 391,133 10.50 % 372,508 10.00 % Leverage Ratio (1) Company 604,833 9.40 % 257,488 4.00 % N/A N/A Bank 484,270 7.58 % 255,560 4.00 % 319,451 5.00 % At December 31, 2019 Required To Be Well-capitalized Amount Ratio Amount Ratio Amount Ratio ($ in thousands) Common Equity Tier 1 Capital Company $ 579,216 16.22 % $ 249,976 7.00 % N/A N/A Bank 415,730 11.80 % 246,671 7.00 % $ 229,052 6.50 % Tier 1 Capital Company 579,216 16.22 % 303,542 8.50 % N/A N/A Bank 415,730 11.80 % 299,529 8.50 % 281,910 8.00 % Total Capital Company 600,860 16.83 % 374,964 10.50 % N/A N/A Bank 443,374 12.58 % 370,007 10.50 % 352,388 10.00 % Leverage Ratio (1) Company 579,216 10.50 % 220,755 4.00 % N/A N/A Bank 415,730 7.60 % 218,851 4.00 % 273,564 5.00 % |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | At December 31, 2020 2019 (In thousands) Deferred tax asset Allowance for credit losses $ 6,789 $ 6,326 State franchise taxes 2,262 1,948 Deferred compensation 4,789 5,118 Real estate owned - 400 Purchased assets and assumed liabilities 552 406 Post-retirement benefits 480 517 Employee benefit accruals 2,353 1,875 VISA Class B shares 284 263 Limited partnership investments 1,066 1,228 Impaired capital assets 2,429 2,875 Accrued liabilities 416 1,606 Premises and equipment 585 261 Other 800 377 Sub total deferred tax asset 22,805 23,200 Tax valuation - (269 ) Total deferred tax asset 22,805 22,931 Deferred tax liability Net deferred loan fees 106 239 Securities available for sale 48,021 10,934 Intangible assets 456 673 Total deferred tax liability 48,583 11,846 Net deferred tax asset (liability) $ (25,778 ) $ 11,085 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the Years Ended December 31, 2020 2019 2018 (In thousands) Current income tax expense: Federal $ 15,982 $ 11,570 $ 10,560 State 10,654 9,595 9,816 Total current 26,636 21,165 20,376 Deferred income tax (benefit) expense: Federal (538 ) 2,340 (206 ) State 292 1,322 (737 ) Total deferred (246 ) 3,662 (943 ) Provision for income taxes $ 26,390 $ 24,827 $ 19,433 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Years Ended December 31, 2020 2019 2018 (In thousands) Federal income taxes due at statutory rate $ 22,429 $ 22,095 $ 19,109 Additions (reductions) in income taxes resulting from: Interest on state and municipal securities and loans not taxable for federal income tax purposes (2,808 ) (3,584 ) (4,375 ) State franchise taxes, net of federal income tax benefit 8,647 8,625 7,173 Stock compensation deduction in excess of book expense (62 ) (312 ) (528 ) Tax credits (1,061 ) (1,040 ) (1,291 ) Dividend received deduction (44 ) (38 ) (32 ) Cash value life insurance (383 ) (464 ) (490 ) Other (328 ) (455 ) (133 ) Provision for income taxes $ 26,390 $ 24,827 $ 19,433 |
Summary of Income Tax Contingencies [Table Text Block] | 2020 2019 (In thousands) Balance at January 1, $ - $ 909 Additions for tax positions taken in the current period - - Reductions for tax positions taken in the current period - - Additions for tax positions taken in prior years - - Reductions for tax positions taken in prior years - - Decrease related to settlements with taxing authorities - (909 ) Decrease as a result of a lapse in statute of limitations - - Balance at December 31, $ - $ - |
Note 11 - Fair Value Measurem_2
Note 11 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | At December 31, 2020 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (1) (In thousands) Debt securities available for sale Agency residential mortgage-backed securities (MBS) $ 652,952 $ - $ 652,952 $ - Securities of U.S. Government entities 154 - 154 - Obligations of states and political subdivisions 111,010 - 111,010 - Corporate securities 2,117,978 - 2,117,978 - Commercial paper 24,990 - 24,990 - Collateralized loan obligations 1,156,101 - 1,156,101 - Total debt securities available for sale $ 4,063,185 $ - $ 4,063,185 $ - At December 31, 2019 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (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 Year Ended At December 31, 2020 December 31, 2020 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ - $ - $ - $ - $ - Loans: Commercial 5,270 - - 5,270 - Commercial real estate 3,710 - - 3,710 - Residential real estate 181 - - 181 - Total assets measured at fair value on a nonrecurring basis $ 9,161 $ - $ - $ 9,161 $ - For the Year 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 December 31, 2020 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 621,275 $ 621,275 $ 621,275 $ - $ - Debt securities held to maturity 515,589 529,678 - 529,678 - Loans 1,232,389 1,290,938 - - 1,290,938 Financial Liabilities: Deposits $ 5,687,979 $ 5,688,049 $ - $ 5,531,590 $ 156,459 Short-term borrowed funds 102,545 102,545 - 102,545 - At December 31, 2019 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs 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 13 - Retirement Benefit _2
Note 13 - Retirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | At December 31, 2020 2019 2018 (In thousands) Service ( benefit) cost $ (35 ) $ (57 ) $ 24 Interest cost 52 72 72 Amortization of unrecognized transition obligation - - - Net periodic cost (benefit) $ 17 $ 15 $ 96 Amortization of unrecognized transition obligation, net of tax - - - Total recognized in net periodic cost (benefit) and accumulated other comprehensive income $ 17 $ 15 $ 96 |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block] | At December 31, 2020 2019 2018 Change in benefit obligation (In thousands) Benefit obligation at beginning of year $ 1,782 $ 1,913 $ 1,958 Service (benefit) cost (35 ) (57 ) 24 Interest cost 52 72 72 Benefits paid (145 ) (146 ) (141 ) Benefit obligation at end of year $ 1,654 $ 1,782 $ 1,913 Accumulated post-retirement benefit obligation attributable to: Retirees $ 1,654 $ 1,782 $ 1,913 Other - - - Total $ 1,654 $ 1,782 $ 1,913 Fair value of plan assets - - - Accumulated post-retirement benefit obligation in excess of plan assets $ 1,654 $ 1,782 $ 1,913 |
Defined Benefit Plan, Assumptions [Table Text Block] | At December 31, 2020 2019 2018 Weighted-average assumptions used to determine benefit obligations Discount rate 1.80 % 2.90 % 3.76 % Weighted-average assumptions used to determine net periodic benefit cost Discount rate 2.90 % 3.76 % 3.70 % |
Schedule of Expected Benefit Payments [Table Text Block] | Estimated future benefit payments (In thousands) 2021 $ 153 2022 153 2023 153 2024 151 2025 146 Years 2026-2030 589 |
Note 14 - Related Party Trans_2
Note 14 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | 2020 2019 (In thousands) Balance at January 1, $ 533 $ 577 Originations - - Principal reductions (34 ) (44 ) Balance at December 31, $ 499 $ 533 Percent of total loans outstanding. 0.04 % 0.05 % |
Note 16 - Other Comprehensive_2
Note 16 - Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | 2020 Before tax Tax effect Net of tax (In thousands) Debt securities available for sale: Net unrealized gains arising during the year $ 125,519 $ (37,108 ) $ 88,411 Reclassification of gains included in net income (71 ) 21 (50 ) Other comprehensive income $ 125,448 $ (37,087 ) $ 88,361 2019 Before tax Tax effect Net of tax (In thousands) Debt securities available for sale: Net unrealized gains arising during the year $ 93,936 $ (27,771 ) $ 66,165 Reclassification of gains included in net income (167 ) 49 (118 ) Other comprehensive income $ 93,769 $ (27,722 ) $ 66,047 2018 Before tax Tax effect Net of tax (In thousands) Debt securities available for sale: Net unrealized losses arising during the year $ (27,939 ) $ 8,258 $ (19,681 ) Reclassification of losses included in net income - - - Other comprehensive loss $ (27,939 ) $ 8,258 $ (19,681 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated Other Comprehensive (Loss) Income Balance, December 31, 2017 $ (16,832 ) Cumulative effect of equity securities losses reclassified 142 Adjusted Balance, January 1, 2018 (16,690 ) Reclass stranded tax effects resulting from the Tax Cuts and Jobs Act of2017 (3,625 ) Changes in unrealized gains (losses) on debt securities available for sale, net of tax (19,681 ) Balance, December 31, 2018 (39,996 ) Changes in unrealized gains (losses) on debt securities available for sale, net of tax 66,047 Balance, December 31, 2019 26,051 Changes in unrealized gains (losses) on debt securities available for sale, net of tax 88,361 Balance, December 31, 2020 114,412 |
Note 17 - Earnings Per Common_2
Note 17 - Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Years Ended December 31, 2020 2019 2018 (In thousands, except per share data) Net income (numerator) $ 80,413 $ 80,389 $ 71,564 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 26,942 26,956 26,649 Basic earnings per common share $ 2.98 $ 2.98 $ 2.69 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,942 26,956 26,649 Add common stock equivalents for options 18 50 107 Weighted average number of common shares outstanding - diluted (denominator) 26,960 27,006 26,756 Diluted earnings per common share $ 2.98 $ 2.98 $ 2.67 |
Note 18 - Westamerica Bancorp_2
Note 18 - Westamerica Bancorporation (Parent Company Only Condensed Financial Information) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Statements of Income and Comprehensive Income, Parent Only [Table Text Block] | For the Years Ended December 31, 2020 2019 2018 (In thousands) Dividends from subsidiaries $ 10,783 $ 80,067 $ 43,892 Interest income 56 54 33 Other income 11,438 8,778 9,447 Total income 22,277 88,899 53,372 Salaries and benefits 7,107 6,978 7,575 Other expense 2,206 3,729 3,181 Total expense 9,313 10,707 10,756 Income before taxes and equity in undistributed income of subsidiaries 12,964 78,192 42,616 Income tax (expense) benefit (454 ) 636 919 Earnings of subsidiaries greater than subsidiary dividends 67,903 1,561 28,029 Net income 80,413 80,389 71,564 Other comprehensive income (loss), net of tax 88,361 66,047 (19,681 ) Comprehensive income $ 168,774 $ 146,436 $ 51,883 |
Balance Sheets Parent Only [Table Text Block] | At December 31, 2020 2019 (In thousands) Assets Cash $ 78,364 $ 122,663 Investment in Westamerica Bank 730,248 573,931 Investment in non-bank subsidiaries 455 455 Premises and equipment, net 10,459 11,006 Accounts receivable from Westamerica Bank 257 231 Other assets 40,852 37,645 Total assets $ 860,635 $ 745,931 Liabilities Accounts payable to Westamerica Bank $ 29 $ 33 Other liabilities 15,797 14,481 Total liabilities 15,826 14,514 Shareholders' equity 844,809 731,417 Total liabilities and shareholders' equity $ 860,635 $ 745,931 |
Statement of Cash Flows Parent Only [Table Text Block] | For the Years Ended December 31, 2020 2019 2018 (In thousands) Operating Activities Net income $ 80,413 $ 80,389 $ 71,564 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 608 449 361 (Increase) decrease in accounts receivable from affiliates (150 ) 80 (43 ) Increase in other assets (2,421 ) (71 ) (2,638 ) Stock option compensation expense 1,875 1,744 1,988 Provision (benefit) for deferred income tax 428 (315 ) 5,028 Increase in other liabilities 855 856 978 Earnings of subsidiaries greater than subsidiary dividends (67,903 ) (1,561 ) (28,029 ) Life insurance gains - - (585 ) Gain on disposal of premises and equipment (61 ) (1,055 ) (538 ) Net Cash Provided by Operating Activities 13,644 80,516 48,086 Investing Activities Proceeds from life insurance policies - - 1,169 Net Cash Provided by Investing Activities - - 1,169 Financing Activities Exercise of stock options 2,838 13,699 13,373 Retirement of common stock (16,496 ) (488 ) (524 ) Common stock dividends paid (44,285 ) (43,942 ) (42,635 ) Net Cash Used in Financing Activities (57,943 ) (30,731 ) (29,786 ) Net change in cash and due from banks (44,299 ) 49,785 19,469 Cash and due from banks at beginning of period 122,663 72,878 53,409 Cash and due from banks at end of period $ 78,364 $ 122,663 $ 72,878 Supplemental Cash Flow Disclosures: Supplemental disclosure of cash flow activities: Interest paid for the period $ - $ - $ - Income tax payments for the period 26,462 24,491 13,627 |
Note 19 - Quarterly Financial_2
Note 19 - Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | For the Three Months Ended March 31, June 30, September 30, December 31, (In thousands, except per share data and price range of common stock) 2020 Interest and loan fee income $ 39,991 $ 41,539 $ 41,365 $ 42,961 Net interest income 39,549 41,104 40,899 42,480 Provision for loan losses 4,300 - - - Noninterest income 11,648 9,554 10,476 13,959 Noninterest expense 24,664 24,754 24,603 24,545 Income before taxes 22,233 25,904 26,772 31,894 Net income 16,962 19,562 20,051 23,838 Basic earnings per common share 0.63 0.72 0.74 0.89 Diluted earnings per common share 0.63 0.72 0.74 0.89 Dividends paid per common share 0.41 0.41 0.41 0.41 Price range, common stock 47.37 - 68.01 53.40 - 64.86 51.84 - 63.58 51.49 - 59.70 2019 Interest and loan fee income $ 39,483 $ 39,626 $ 39,695 $ 39,878 Net interest income 38,989 39,139 39,240 39,427 Provision for loan losses - - - - Noninterest income 11,579 12,288 11,809 11,732 Noninterest expense 25,183 25,561 24,033 24,209 Income before taxes 25,385 25,866 27,016 26,950 Net income 19,646 19,625 20,390 20,728 Basic earnings per common share 0.73 0.73 0.76 0.77 Diluted earnings per common share 0.73 0.73 0.75 0.77 Dividends paid per common share 0.40 0.41 0.41 0.41 Price range, common stock 56.82 - 64.48 59.51 - 64.82 59.26 - 64.56 60.65 - 68.58 2018 Interest and loan fee income $ 36,315 $ 37,346 $ 38,614 $ 39,448 Net interest income 35,856 36,887 38,087 38,934 Provision for loan losses - - - - Noninterest income 11,955 11,769 12,528 11,897 Noninterest expense 26,022 25,741 29,366 25,787 Income before taxes 21,789 22,915 21,249 25,044 Net income 17,506 18,010 16,993 19,055 Basic earnings per common share 0.66 0.68 0.64 0.71 Diluted earnings per common share 0.66 0.67 0.63 0.71 Dividends paid per common share 0.40 0.40 0.40 0.40 Price range, common stock 55.72 - 62.52 55.81 - 60.68 57.56 - 64.52 52.75 - 63.20 |
Note 1 - Business and Account_3
Note 1 - Business and Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020USD ($) | Jan. 01, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Number of Reportable Segments | 1 | ||||
Loans and Leases Receivable, Days Before Nonaccrual Status (Day) | 90 days | ||||
Loans and Leases Receivable, Certain Consumer Loans and Auto Receivables, Days Before Chargeoff (Day) | 120 days | ||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 23,854 | $ 19,484 | $ 21,351 | $ 23,009 | |
Reserve for Unfunded Commitments | $ 2,160 | ||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ 264,356 | $ 239,135 | |||
Accounting Standards Update 2016-13 [Member] | |||||
Financing Receivable, Allowance for Credit Loss, 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) | ||||
Maximum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | ||||
Land and Land Improvements [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 20 years | ||||
Land and Land Improvements [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 50 years | ||||
Equipment [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||||
Equipment [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 20 years |
Note 1 - Business and Account_4
Note 1 - Business and Accounting Policies - Impact of Adoption of ASU 2016-13 (Details) - USD ($) $ in Thousands | Dec. 31, 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 | $ 9 | 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 | $ 9 | 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 2 - Investment Securitie_2
Note 2 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2020 | |
Unrealized Gain (Loss) on Securities | $ 50 | |||
Equity Securities, FV-NI | $ 0 | $ 0 | 0 | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | 9 | 9 | 0 | $ 0 |
Debt Securities, Held-to-maturity, Credit Loss Expense (Reversal) | (7) | (7) | ||
High Risk Collateralized Mortgage Obligations | 0 | 0 | 0 | |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | 0 | |||
Pledged Financial Instruments, Not Separately Reported, Securities, Total | 888,577 | 888,577 | 760,365 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | 3,900,751 | 3,900,751 | 3,041,860 | |
Debt Securities, Available-for-sale, Total | 4,063,185 | 4,063,185 | 3,078,846 | |
Debt Securities, Held-to-maturity, Nonaccrual | 0 | 0 | ||
Debt Security, Corporate, US [Member] | ||||
Debt Securities, Available-for-sale, Amortized Cost, Total | 1,986,995 | 1,986,995 | 1,805,479 | |
Debt Securities, Available-for-sale, Total | 2,117,978 | 2,117,978 | $ 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 | 15,000 | ||
Debt Securities, Available-for-sale, Total | 14,960 | 14,960 | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | $ 9 | $ 9 | $ 16 |
Note 2 - Investment Securitie_3
Note 2 - Investment Securities - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Investment Securities Portfolio (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt securities available for sale, amortized cost | $ 3,900,751 | $ 3,041,860 |
Debt securities available for sale, gross unrealized gains | 163,576 | 43,857 |
Debt securities available for sale, gross unrealized losses | (1,142) | (6,871) |
Debt securities available for sale | 4,063,185 | 3,078,846 |
Held to maturity | 515,598 | 738,072 |
Debt securities held to maturity, gross unrecognized gains | 14,121 | 8,460 |
Debt securities held to maturity, gross unrecognized losses | (32) | (2,236) |
Debt securities held to maturity, fair value | 529,687 | 744,296 |
Debt securities, amortized cost | 4,416,349 | 3,779,932 |
Debt securities, gross unrecognized gains | 177,697 | 52,317 |
Debt securities, gross unrecognized losses | (1,174) | (9,107) |
Debt securities, fair value | 4,592,872 | 3,823,142 |
Agency Residential MBS [Member] | ||
Debt securities available for sale, amortized cost | 630,174 | 934,592 |
Debt securities available for sale, gross unrealized gains | 22,779 | 10,996 |
Debt securities available for sale, gross unrealized losses | (1) | (5,838) |
Debt securities available for sale | 652,952 | 939,750 |
Held to maturity | 240,332 | 353,937 |
Debt securities held to maturity, gross unrecognized gains | 6,852 | 766 |
Debt securities held to maturity, gross unrecognized losses | (32) | (2,235) |
Debt securities held to maturity, fair value | 247,152 | 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 | |
US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 154 | 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 | 154 | 544 |
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 States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 105,679 | 159,527 |
Debt securities available for sale, gross unrealized gains | 5,332 | 3,656 |
Debt securities available for sale, gross unrealized losses | (1) | (44) |
Debt securities available for sale | 111,010 | 163,139 |
Held to maturity | 273,922 | 381,781 |
Debt securities held to maturity, gross unrecognized gains | 7,243 | 7,672 |
Debt securities held to maturity, gross unrecognized losses | 0 | (1) |
Debt securities held to maturity, fair value | 281,165 | 389,452 |
Debt Security, Corporate, US [Member] | ||
Debt securities available for sale, amortized cost | 1,986,995 | 1,805,479 |
Debt securities available for sale, gross unrealized gains | 131,025 | 29,183 |
Debt securities available for sale, gross unrealized losses | (42) | (879) |
Debt securities available for sale | 2,117,978 | 1,833,783 |
Agency Commercial MBS [Member] | ||
Debt securities available for sale, amortized cost | 3,711 | |
Debt securities available for sale, gross unrealized gains | 0 | |
Debt securities available for sale, gross unrealized losses | (3) | |
Debt securities available for sale | 3,708 | |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Debt securities available for sale, amortized cost | 24,983 | |
Debt securities available for sale, gross unrealized gains | 7 | |
Debt securities available for sale, gross unrealized losses | 0 | |
Debt securities available for sale | 24,990 | |
Collateralized Debt Obligations [Member] | ||
Debt securities available for sale, amortized cost | 1,152,766 | 6,748 |
Debt securities available for sale, gross unrealized gains | 4,433 | 7 |
Debt securities available for sale, gross unrealized losses | (1,098) | 0 |
Debt securities available for sale | 1,156,101 | 6,755 |
Non-agency Residential MBS [Member] | ||
Held to maturity | 1,344 | 2,354 |
Debt securities held to maturity, gross unrecognized gains | 26 | 22 |
Debt securities held to maturity, gross unrecognized losses | 0 | 0 |
Debt securities held to maturity, fair value | $ 1,370 | $ 2,376 |
Note 2 - Investment Securitie_4
Note 2 - Investment Securities - Amortized Cost and Estimated Market Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Investment securities available for sale, amortized cost, 1 year or less | $ 212,140 | $ 294,698 |
Investment securities available for sale, fair value, 1 year or less | 213,715 | 295,255 |
Investment securities held to maturity, amortized cost, 1 year or less | 54,526 | 70,378 |
Investment securities held to maturity, fair value, 1 year or less | 54,927 | 70,602 |
Investment securities available for sale, amortized cost, over 1 to 5 years | 922,170 | 1,104,775 |
Investment securities available for sale, fair value, over 1 to 5 years | 974,438 | 1,122,391 |
Investment securities held to maturity, amortized cost, over 1 to 5 years | 129,786 | 161,911 |
Investment securities held to maturity, fair value, over 1 to 5 years | 133,195 | 165,126 |
Investment securities available for sale, amortized cost, over 5 to 10 years | 1,767,747 | 670,595 |
Investment securities available for sale, fair value, over 5 to 10 years | 1,851,184 | 683,277 |
Investment securities held to maturity, amortized cost, over 5 to 10 years | 89,610 | 149,492 |
Investment securities held to maturity, fair value, over 5 to 10 years | 93,043 | 153,724 |
Investment securities available for sale, amortized cost, over 10 years | 368,520 | 33,489 |
Investment securities available for sale, fair value, over 10 years | 370,896 | 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 | 3,270,577 | 2,103,557 |
Investment securities available for sale, fair value, subtotal | 3,410,233 | 2,135,388 |
Investment securities held to maturity, amortized cost, subtotal | 273,922 | 381,781 |
Investment securities held to maturity, fair value, subtotal | 281,165 | 389,452 |
Investment securities available for sale, amortized cost | 630,174 | 938,303 |
Investment securities available for sale, fair value | 652,952 | 943,458 |
Investment securities held to maturity, amortized cost | 241,676 | 356,291 |
Investment securities held to maturity, fair value | 248,522 | 354,844 |
Investment securities available for sale, amortized cost | 3,900,751 | 3,041,860 |
Investment securities available for sale, fair value | 4,063,185 | 3,078,846 |
Investment securities held to maturity, amortized cost | 515,598 | 738,072 |
Investment securities held to maturity, fair value | $ 529,687 | $ 744,296 |
Note 2 - Investment Securitie_5
Note 2 - Investment Securities - Gross Unrealized Losses, Investment Securities Portfolio (Details) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Available for sale securities, less than 12 months, number of investment positions | 40 | 16 |
Available for sale securities, less than 12 months, fair value | $ 269,526 | $ 96,910 |
Available for sale securities, less than 12 months, unrealized losses | $ (1,100) | $ (314) |
Available for sale securities, 12 months or longer, number of investment positions | 2 | 70 |
Available for sale securities, 12 months or longer, fair value | $ 14,980 | $ 462,348 |
Available for sale securities, 12 months or longer, unrealized losses | $ (42) | $ (6,557) |
Available for sale securities, total, number of investment positions | 42 | 86 |
Available for sale securities, total, fair value | $ 284,506 | $ 559,258 |
Available for sale securities, total, unrealized losses | $ (1,142) | $ (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 | $ 96 | $ 11,674 |
Available for sale securities, less than 12 months, unrealized losses | $ (1) | $ (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 | $ 17 | $ 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 | $ 113 | $ 359,058 |
Available for sale securities, total, unrealized losses | $ (1) | $ (5,838) |
Held to Maturity securities, less than 12 months, number of investment positions | 3 | 6 |
Held to Maturity securities, less than 12 months, fair value | $ 377 | $ 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 | $ 788 | $ 277,203 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (31) | $ (2,148) |
Held to Maturity securities, total, number of investment positions | 6 | 60 |
Held to Maturity securities, total, fair value | $ 1,165 | $ 289,301 |
Held to Maturity securities, total, unrecognized losses | $ (32) | $ (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) | |
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 | $ 154 | $ 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 | $ 154 | $ 544 |
Available for sale securities, total, unrealized losses | $ 0 | $ (9) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 2 | 0 |
Available for sale securities, less than 12 months, fair value | $ 692 | $ 0 |
Available for sale securities, less than 12 months, unrealized losses | $ (1) | $ 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 | 2 | 7 |
Available for sale securities, total, fair value | $ 692 | $ 4,163 |
Available for sale securities, total, unrealized losses | $ (1) | $ (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) | |
Agency Commercial MBS [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | |
Available for sale securities, less than 12 months, fair value | $ 3,708 | |
Available for sale securities, less than 12 months, unrealized losses | $ (3) | |
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 | 1 | |
Available for sale securities, total, fair value | $ 3,708 | |
Available for sale securities, total, unrealized losses | $ (3) | |
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 | 1 | 11 |
Available for sale securities, 12 months or longer, fair value | $ 14,963 | $ 64,380 |
Available for sale securities, 12 months or longer, unrealized losses | $ (42) | $ (717) |
Available for sale securities, total, number of investment positions | 1 | 19 |
Available for sale securities, total, fair value | $ 14,963 | $ 135,957 |
Available for sale securities, total, unrealized losses | $ (42) | $ (879) |
Collateralized Loan Obligations [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 36 | |
Available for sale securities, less than 12 months, fair value | $ 268,584 | |
Available for sale securities, less than 12 months, unrealized losses | $ (1,098) | |
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 | 36 | |
Available for sale securities, total, fair value | $ 268,584 | |
Available for sale securities, total, unrealized losses | $ (1,098) |
Note 2 - Investment Securitie_6
Note 2 - Investment Securities - Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2020 | Dec. 31, 2020 | |
Beginning balance, prior to adoption of ASU 2016-13 | $ 0 | |
Impact of adopting ASU 2016-13 | 16 | |
Reversal | $ (7) | (7) |
Chargeoffs | 0 | |
Recoveries | 0 | |
Total ending balance | 9 | 9 |
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||
Total ending balance | $ 9 | $ 9 |
Note 2 - Investment Securitie_7
Note 2 - Investment Securities - Credit Quality (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Held to maturity | $ 515,598 | $ 738,072 |
AAA/AA/A [Member] | ||
Held to maturity | 484,662 | |
BBB [Member] | ||
Held to maturity | 25,844 | |
BB/B [Member] | ||
Held to maturity | 5,092 | |
Agency Residential MBS [Member] | ||
Held to maturity | 240,332 | 353,937 |
Agency Residential MBS [Member] | AAA/AA/A [Member] | ||
Held to maturity | 240,332 | |
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 | 1,344 | 2,354 |
Non-agency Residential MBS [Member] | AAA/AA/A [Member] | ||
Held to maturity | 331 | |
Non-agency Residential MBS [Member] | BBB [Member] | ||
Held to maturity | 0 | |
Non-agency Residential MBS [Member] | BB/B [Member] | ||
Held to maturity | 1,013 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Held to maturity | 273,922 | $ 381,781 |
US States and Political Subdivisions Debt Securities [Member] | AAA/AA/A [Member] | ||
Held to maturity | 243,999 | |
US States and Political Subdivisions Debt Securities [Member] | BBB [Member] | ||
Held to maturity | 25,844 | |
US States and Political Subdivisions Debt Securities [Member] | BB/B [Member] | ||
Held to maturity | $ 4,079 |
Note 2 - Investment Securitie_8
Note 2 - Investment Securities - Interest Income From Investment Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Taxable | $ 93,163 | $ 77,800 | $ 65,330 |
Tax-exempt from regular federal income tax | 12,151 | 15,736 | 19,438 |
Total interest income from investment securities | $ 105,314 | $ 93,536 | $ 84,768 |
Note 3 - Loans and Allowance _3
Note 3 - Loans and Allowance for Credit Losses (Details Textual) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 23,854 | $ 19,484 | $ 21,351 | $ 23,009 |
Loans and Leases Receivable, Nonaccrual, Commitment to Lend | 0 | 0 | ||
Financing Receivable, Troubled Debt Restructuring | $ 6,221 | $ 6,713 | ||
Troubled Debt Restructurings During Period | 0 | 0 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | ||
Financing Receivable, Held-for-Sale | $ 0 | $ 0 | ||
Other Real Estate, Ending Balance | 0 | 43 | ||
Other Real Estate, Reserve | 0 | |||
Mortgage Loans in Process of Foreclosure, Amount | 346 | 124 | ||
Residential Real Estate Included in OREO [Member] | ||||
Real Estate Acquired Through Foreclosure | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | 5,660 | 4,064 | 3,884 | 3,849 |
Financing Receivable, Troubled Debt Restructuring | 6,040 | 6,492 | ||
Allowance for Credit Losses, Collateral-dependent Loans | $ 0 | |||
Number of Collateral-dependent Loans | 1 | |||
Collateral-dependent Loans, Balance | $ 3,420 | |||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | 8,936 | 6,445 | 5,645 | 6,418 |
Collateral-dependent Loans, Balance | 446 | |||
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | 47 | 206 | $ 869 | $ 995 |
Financing Receivable, Troubled Debt Restructuring | $ 181 | 189 | ||
Number of Collateral-dependent Loans | 2 | |||
Collateral-dependent Loans, Balance | $ 346 | |||
Restructured Loans [Member] | ||||
Financing Receivable, Troubled Debt Restructuring | 6,221 | 6,713 | ||
Impaired Loans, Restructured, Nonaccrual Status | 3,420 | $ 3,670 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Principal and Interest Deferred Payments | 7,800 | |||
Other Consumer Loan [Member] | ||||
Financing Receivable, Principal and Interest Deferred Payments | 2,500 | |||
Commercial Loan [Member] | ||||
Financing Receivable, Principal and Interest Deferred Payments | $ 33 | |||
Other Commercial Real Estate Loans [Member] | ||||
Number of Collateral-dependent Loans | 4 | |||
Collateral-dependent Loans, Balance | $ 7,600 | |||
Nonperforming Financial Instruments [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 0 |
Note 3 - Loans and Allowance _4
Note 3 - Loans and Allowance for Credit Losses - Loans Receivable at Carrying Amount (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loans | $ 1,256,243 | $ 1,126,664 |
Commercial Portfolio Segment [Member] | ||
Loans | 394,806 | 222,085 |
Commercial Portfolio Segment [Member] | Paycheck Protection Program Loans [Member] | ||
Loans | 186,945 | 0 |
Commercial Portfolio Segment [Member] | Other Commercial Portfolio Segment [Member] | ||
Loans | 207,861 | 222,085 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 564,300 | 578,758 |
Construction Portfolio Segment [Member] | ||
Loans | 129 | 1,618 |
Residential Portfolio Segment [Member] | ||
Loans | 23,471 | 32,748 |
Consumer Portfolio Segment [Member] | ||
Loans | $ 273,537 | $ 291,455 |
Note 3 - Loans and Allowance _5
Note 3 - Loans and Allowance for Credit Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Total allowance for credit losses | $ 19,484 | $ 21,351 | $ 23,009 |
Provision (reversal) | 4,307 | 0 | 0 |
Chargeoffs | (4,199) | (4,570) | (4,877) |
Recoveries | 2,245 | 2,703 | 3,219 |
Unallocated Financing Receivable [Member] | |||
Total allowance for credit losses | 3,701 | 3,177 | 3,666 |
Provision (reversal) | 0 | 524 | (489) |
Chargeoffs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Total allowance for credit losses | 2,017 | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Total allowance for credit losses | 21,501 | ||
Commercial Portfolio Segment [Member] | |||
Total allowance for credit losses | 4,959 | 6,311 | 7,746 |
Provision (reversal) | 746 | (2,023) | (2,369) |
Chargeoffs | (236) | (97) | (513) |
Recoveries | 351 | 768 | 1,447 |
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Total allowance for credit losses | 3,385 | ||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Total allowance for credit losses | 8,344 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Total allowance for credit losses | 4,064 | 3,884 | 3,849 |
Provision (reversal) | 929 | (16) | 275 |
Chargeoffs | 0 | 0 | (240) |
Recoveries | 49 | 196 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Total allowance for credit losses | 618 | ||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Total allowance for credit losses | 4,682 | ||
Construction Portfolio Segment [Member] | |||
Total allowance for credit losses | 109 | 1,465 | 335 |
Provision (reversal) | (72) | (1,356) | 1,130 |
Chargeoffs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Total allowance for credit losses | (31) | ||
Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Total allowance for credit losses | 78 | ||
Residential Portfolio Segment [Member] | |||
Total allowance for credit losses | 206 | 869 | 995 |
Provision (reversal) | (27) | (663) | (126) |
Chargeoffs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Total allowance for credit losses | (132) | ||
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Total allowance for credit losses | 74 | ||
Consumer Portfolio Segment [Member] | |||
Total allowance for credit losses | 6,445 | 5,645 | 6,418 |
Provision (reversal) | 2,731 | 3,534 | 1,579 |
Chargeoffs | (3,963) | (4,473) | (4,124) |
Recoveries | 1,845 | $ 1,739 | $ 1,772 |
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Total allowance for credit losses | 1,878 | ||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Total allowance for credit losses | 8,323 | ||
Unallocated Financing Receivable [Member] | |||
Total allowance for credit losses | 3,701 | ||
Unallocated Financing Receivable [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Total allowance for credit losses | (3,701) | ||
Unallocated Financing Receivable [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Total allowance for credit losses | $ 0 |
Note 4 - Loans, Allowance for L
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Allowance for Loan Losses (3) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Total allowance for credit losses | $ 19,484 | $ 21,351 | $ 23,009 |
Provision (reversal) | 4,307 | 0 | 0 |
Chargeoffs | (4,199) | (4,570) | (4,877) |
Recoveries | 2,245 | 2,703 | 3,219 |
Total allowance for credit losses | 23,854 | 19,484 | 21,351 |
Unallocated Financing Receivable [Member] | |||
Total allowance for credit losses | 3,701 | 3,177 | 3,666 |
Provision (reversal) | 0 | 524 | (489) |
Chargeoffs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Total allowance for credit losses | 0 | 3,701 | 3,177 |
Commercial Portfolio Segment [Member] | |||
Total allowance for credit losses | 4,959 | 6,311 | 7,746 |
Provision (reversal) | 746 | (2,023) | (2,369) |
Chargeoffs | (236) | (97) | (513) |
Recoveries | 351 | 768 | 1,447 |
Total allowance for credit losses | 9,205 | 4,959 | 6,311 |
Commercial Real Estate Portfolio Segment [Member] | |||
Total allowance for credit losses | 4,064 | 3,884 | 3,849 |
Provision (reversal) | 929 | (16) | 275 |
Chargeoffs | 0 | 0 | (240) |
Recoveries | 49 | 196 | 0 |
Total allowance for credit losses | 5,660 | 4,064 | 3,884 |
Construction Portfolio Segment [Member] | |||
Total allowance for credit losses | 109 | 1,465 | 335 |
Provision (reversal) | (72) | (1,356) | 1,130 |
Chargeoffs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Total allowance for credit losses | 6 | 109 | 1,465 |
Residential Portfolio Segment [Member] | |||
Total allowance for credit losses | 206 | 869 | 995 |
Provision (reversal) | (27) | (663) | (126) |
Chargeoffs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Total allowance for credit losses | 47 | 206 | 869 |
Consumer Portfolio Segment [Member] | |||
Total allowance for credit losses | 6,445 | 5,645 | 6,418 |
Provision (reversal) | 2,731 | 3,534 | 1,579 |
Chargeoffs | (3,963) | (4,473) | (4,124) |
Recoveries | 1,845 | 1,739 | 1,772 |
Total allowance for credit losses | $ 8,936 | $ 6,445 | $ 5,645 |
Note 3 - Loans and Allowance _6
Note 3 - Loans and Allowance for Credit Losses - Recorded Investment in Loans Evaluated for Impairment (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Individually evaluated for impairment | $ 2,413 | |||
Collectively evaluated for impairment | 17,071 | |||
Total allowance for loan losses | $ 23,854 | 19,484 | $ 21,351 | $ 23,009 |
Individually evaluated for impairment | 15,824 | |||
Collectively evaluated for impairment | 1,110,840 | |||
Total loans | 1,256,243 | 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 | 3,177 | 3,666 |
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 0 | |||
Total loans | 0 | |||
Commercial Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 2,413 | |||
Collectively evaluated for impairment | 2,546 | |||
Total allowance for loan losses | 9,205 | 4,959 | 6,311 | 7,746 |
Individually evaluated for impairment | 8,182 | |||
Collectively evaluated for impairment | 213,903 | |||
Total loans | 394,806 | 222,085 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 4,064 | |||
Total allowance for loan losses | 5,660 | 4,064 | 3,884 | 3,849 |
Individually evaluated for impairment | 7,409 | |||
Collectively evaluated for impairment | 571,349 | |||
Total loans | 564,300 | 578,758 | ||
Construction Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 109 | |||
Total allowance for loan losses | 6 | 109 | 1,465 | 335 |
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 1,618 | |||
Total loans | 129 | 1,618 | ||
Residential Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 206 | |||
Total allowance for loan losses | 47 | 206 | 869 | 995 |
Individually evaluated for impairment | 190 | |||
Collectively evaluated for impairment | 32,558 | |||
Total loans | 23,471 | 32,748 | ||
Consumer Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 6,445 | |||
Total allowance for loan losses | 8,936 | 6,445 | $ 5,645 | $ 6,418 |
Individually evaluated for impairment | 43 | |||
Collectively evaluated for impairment | 291,412 | |||
Total loans | $ 273,537 | $ 291,455 |
Note 3 - Loans and Allowance _7
Note 3 - Loans and Allowance for Credit Losses - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loans | $ 1,256,243 | $ 1,126,664 |
Pass [Member] | ||
Loans | 1,224,701 | 1,103,164 |
Substandard [Member] | ||
Loans | 30,428 | 22,798 |
Doubtful [Member] | ||
Loans | 543 | 308 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 571 | 394 |
Commercial Portfolio Segment [Member] | ||
Loans | 394,806 | 222,085 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 386,144 | 213,542 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 8,662 | 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 | 564,300 | 578,758 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans | 545,398 | 567,525 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 18,902 | 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 | 129 | 1,618 |
Construction Portfolio Segment [Member] | Pass [Member] | ||
Loans | 129 | 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 | 23,471 | 32,748 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans | 22,105 | 31,055 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 1,366 | 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 | 273,537 | 291,455 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 270,925 | 289,424 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 1,498 | 1,329 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 543 | 308 |
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | $ 571 | $ 394 |
Note 3 - Loans and Allowance _8
Note 3 - Loans and Allowance for Credit Losses - Loans by Delinquency and Nonaccrual Status (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current and accruing | $ 1,247,222 | $ 1,114,951 |
Nonaccrual | 4,329 | 4,440 |
Total loans | 1,256,243 | 1,126,664 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 3,493 | 4,197 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 749 | 2,636 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 450 | 440 |
Commercial Portfolio Segment [Member] | ||
Current and accruing | 394,004 | 221,199 |
Nonaccrual | 83 | 197 |
Total loans | 394,806 | 222,085 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 713 | 531 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 6 | 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 | 560,580 | 573,809 |
Nonaccrual | 3,720 | 4,096 |
Total loans | 564,300 | 578,758 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 0 | 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 | 129 | 1,618 |
Nonaccrual | 0 | 0 |
Total loans | 129 | 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 | 22,269 | 31,934 |
Nonaccrual | 161 | 0 |
Total loans | 23,471 | 32,748 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 770 | 274 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 271 | 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 | 270,240 | 286,391 |
Nonaccrual | 365 | 147 |
Total loans | 273,537 | 291,455 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 2,010 | 2,960 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 472 | 1,517 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | $ 450 | $ 440 |
Note 3 - Loans and Allowance _9
Note 3 - Loans and Allowance for Credit Losses - 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 3 - Loans and Allowance_10
Note 3 - Loans and Allowance for Credit Losses - Impaired Loans, Supplemental Schedule (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Average Recorded Investment | $ 16,075 | $ 22,758 |
Recognized Interest Income | 283 | 1,458 |
Commercial Portfolio Segment [Member] | ||
Average Recorded Investment | 8,412 | 10,532 |
Recognized Interest Income | 140 | 667 |
Commercial Real Estate Portfolio Segment [Member] | ||
Average Recorded Investment | 7,428 | 11,703 |
Recognized Interest Income | 139 | 758 |
Residential Portfolio Segment [Member] | ||
Average Recorded Investment | 191 | 269 |
Recognized Interest Income | 3 | 19 |
Consumer Portfolio Segment [Member] | ||
Average Recorded Investment | 44 | 254 |
Recognized Interest Income | $ 1 | $ 14 |
Note 3 - Loans and Allowance_11
Note 3 - Loans and Allowance for Credit Losses - Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Number of Contracts | 7 | 9 |
Pre-Modification Carrying Value | $ 8,608 | $ 8,886 |
Period-End Carrying Value | 6,221 | 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 |
Period-End Carrying Value | 6,040 | 6,492 |
Period-End Individual Impairment Allowance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 2 | |
Pre-Modification Carrying Value | $ 278 | |
Period-End Carrying Value | 32 | |
Period-End Individual Impairment Allowance | $ 11 | |
Residential Portfolio Segment [Member] | ||
Number of Contracts | 1 | 1 |
Pre-Modification Carrying Value | $ 241 | $ 241 |
Period-End Carrying Value | 181 | 189 |
Period-End Individual Impairment Allowance | $ 0 | $ 0 |
Note 3 - Loans and Allowance_12
Note 3 - Loans and Allowance for Credit Losses - Risk Category of Loans by Class (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current | $ 1,247,222 | $ 1,114,951 |
Nonaccrual | 4,329 | 4,440 |
Loans | 1,256,243 | 1,126,664 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 3,493 | 4,197 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 749 | 2,636 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 450 | 440 |
Commercial Portfolio Segment [Member] | ||
Originated prior | 25,080 | |
Originated 2015 | 25,041 | |
Originated 2016 | 10,669 | |
Originated 2017 | 19,320 | |
Originated 2018 | 41,672 | |
Originated 2019 | 227,105 | |
Originated 2020 | 348,887 | |
Total term loans | 45,919 | |
Revolving loans | 394,806 | |
Current | 394,004 | 221,199 |
Nonaccrual | 83 | 197 |
Loans | 394,806 | 222,085 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 713 | 531 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 6 | 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 | 131,705 | |
Originated 2015 | 52,142 | |
Originated 2016 | 100,722 | |
Originated 2017 | 93,243 | |
Originated 2018 | 92,262 | |
Originated 2019 | 94,226 | |
Originated 2020 | 564,300 | |
Total term loans | 0 | |
Revolving loans | 564,300 | |
Current | 560,580 | 573,809 |
Nonaccrual | 3,720 | 4,096 |
Loans | 564,300 | 578,758 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 0 | 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 | 129 | |
Revolving loans | 129 | |
Current | 129 | 1,618 |
Nonaccrual | 0 | 0 |
Loans | 129 | 1,618 |
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 | 23,471 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 23,471 | |
Total term loans | 0 | |
Revolving loans | 23,471 | |
Current | 22,269 | 31,934 |
Nonaccrual | 161 | 0 |
Loans | 23,471 | 32,748 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 770 | 274 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 271 | 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] | ||
Current | 270,240 | 286,391 |
Nonaccrual | 365 | 147 |
Loans | 273,537 | 291,455 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 2,010 | 2,960 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 472 | 1,517 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 450 | 440 |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | ||
Current | 8,657 | |
Nonaccrual | 0 | |
Loans | 8,855 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 125 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 40 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 33 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2015 [Member] | ||
Current | 15,766 | |
Nonaccrual | 0 | |
Loans | 15,920 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2015 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 86 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2015 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 19 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2015 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 49 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2016 [Member] | ||
Current | 21,167 | |
Nonaccrual | 0 | |
Loans | 21,532 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2016 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 200 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2016 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 115 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2016 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 50 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | ||
Current | 47,359 | |
Nonaccrual | 0 | |
Loans | 48,150 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 620 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 40 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 131 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | ||
Current | 62,271 | |
Nonaccrual | 0 | |
Loans | 63,097 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 519 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 165 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 142 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | ||
Current | 86,953 | |
Nonaccrual | 0 | |
Loans | 87,500 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 428 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 76 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 43 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | ||
Current | 242,173 | |
Nonaccrual | 0 | |
Loans | 245,054 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 1,978 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 455 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 448 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | ||
Current | 28,067 | |
Nonaccrual | 365 | |
Loans | 28,483 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 32 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 17 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 2 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | ||
Current | 270,240 | |
Nonaccrual | 365 | |
Loans | 273,537 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 2,010 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 472 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 450 | |
Pass [Member] | ||
Loans | 1,224,701 | 1,103,164 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 24,998 | |
Originated 2015 | 25,041 | |
Originated 2016 | 10,669 | |
Originated 2017 | 19,307 | |
Originated 2018 | 41,672 | |
Originated 2019 | 219,521 | |
Originated 2020 | 341,208 | |
Total term loans | 44,936 | |
Revolving loans | 386,144 | |
Loans | 386,144 | 213,542 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 125,696 | |
Originated 2015 | 42,237 | |
Originated 2016 | 100,617 | |
Originated 2017 | 93,243 | |
Originated 2018 | 90,219 | |
Originated 2019 | 93,386 | |
Originated 2020 | 545,398 | |
Total term loans | 0 | |
Revolving loans | 545,398 | |
Loans | 545,398 | 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 | 129 | |
Revolving loans | 129 | |
Loans | 129 | 1,618 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Originated prior | 22,105 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 22,105 | |
Total term loans | 0 | |
Revolving loans | 22,105 | |
Loans | 22,105 | 31,055 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 270,925 | 289,424 |
Substandard [Member] | ||
Loans | 30,428 | 22,798 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 82 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 13 | |
Originated 2018 | 0 | |
Originated 2019 | 7,584 | |
Originated 2020 | 7,679 | |
Total term loans | 983 | |
Revolving loans | 8,662 | |
Loans | 8,662 | 8,543 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 6,009 | |
Originated 2015 | 9,905 | |
Originated 2016 | 105 | |
Originated 2017 | 0 | |
Originated 2018 | 2,043 | |
Originated 2019 | 840 | |
Originated 2020 | 18,902 | |
Total term loans | 0 | |
Revolving loans | 18,902 | |
Loans | 18,902 | 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 | 1,366 | |
Originated 2015 | 0 | |
Originated 2016 | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 1,366 | |
Total term loans | 0 | |
Revolving loans | 1,366 | |
Loans | 1,366 | 1,693 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 1,498 | 1,329 |
Doubtful [Member] | ||
Loans | 543 | 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 | 0 | |
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 | 543 | 308 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 571 | 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 | 0 | |
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 | $ 571 | $ 394 |
Note 4 - Concentration of Cre_2
Note 4 - Concentration of Credit Risk (Details Textual) - USD ($) $ in Thousands | Dec. 31, 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 | $ 37,456 | $ 43,129 |
Corporate Debt Securities [Member] | ||
Concentration Risk, Issuer Relationships | 93 | |
Concentration Risk, Aggregate Securities Amount | $ 5,000 | |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Concentration Risk, Issuer Relationships | 1 | |
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 | 34 | |
Concentration Risk, Aggregate Loans Amount | $ 5,000 |
Note 5 - Premises, Equipment,_3
Note 5 - Premises, Equipment, Other Assets and Other Liabilities (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands | Sep. 27, 2019 | Sep. 26, 2019 | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 3,683 | $ 3,879 | $ 3,677 | ||
FRB Membership, Stock Subscription, Percent of Paid-Up Capital Stock and Surplus Requirement | 6.00% | ||||
Share Price (in dollars per share) | $ / shares | $ 55.29 | ||||
LIHTC Investments | $ 18,335 | 20,773 | |||
Qualified Affordable Housing Project Investments, Commitment | 12,202 | 16,231 | |||
Deferred Tax Liabilities, Net, Total | 25,778 | 0 | |||
Deferred Tax Assets, Net of Valuation Allowance, Total | 22,805 | 22,931 | |||
Deferred Tax Liabilities, Deferred Expense, Total | 48,021 | ||||
Deferred Tax Liabilities, Unrealized Gains on Available for Sale Debt Securities | 162,434 | ||||
Deferred Tax Assets, Net, Total | $ 0 | 11,085 | |||
Deferred Tax Liabilities, Investments | 10,934 | ||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years | ||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | ||||
Operating Lease, Right-of-Use Asset | $ 18,832 | 17,136 | |||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 8 months 12 days | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 2.12% | ||||
Occupancy and Equipment Expense [Member] | |||||
Operating Lease, Cost | $ 6,699 | 6,880 | |||
Other Liabilities [Member] | |||||
Operating Lease, Liability, Total | 18,832 | $ 17,136 | |||
Contingent Commitment, Year 1 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 3,060 | ||||
Contingent Commitment, Year 2 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 4,908 | ||||
Contingent Commitment, Year 3 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 3,485 | ||||
Contingent Commitment, Year 4 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 96 | ||||
Contingent Commitment, Year 5 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 81 | ||||
Contingent Commitment, Year 6 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 74 | ||||
Contingent Commitment, Year 7 or Thereafter [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | $ 498 | ||||
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 | |||
Share Price (in dollars per share) | $ / shares | $ 218.73 | ||||
VISA Class B Common Stock [Member] | Reported Value Measurement [Member] | |||||
Investment Owned, at Fair Value | $ 0 |
Note 5 - Premises, Equipment,_4
Note 5 - Premises, Equipment, Other Assets and Other Liabilities - Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Cost | $ 87,584 | $ 87,232 |
Accumulated Depreciation and Amortization | (54,771) | (52,635) |
Net Book Value | 32,813 | 34,597 |
Land [Member] | ||
Cost | 11,453 | 11,691 |
Accumulated Depreciation and Amortization | 0 | 0 |
Net Book Value | 11,453 | 11,691 |
Building and Building Improvements [Member] | ||
Cost | 42,960 | 42,529 |
Accumulated Depreciation and Amortization | (28,922) | (28,353) |
Net Book Value | 14,038 | 14,176 |
Leasehold Improvements [Member] | ||
Cost | 6,944 | 6,219 |
Accumulated Depreciation and Amortization | (5,528) | (5,405) |
Net Book Value | 1,416 | 814 |
Furniture and Fixtures [Member] | ||
Cost | 26,227 | 26,793 |
Accumulated Depreciation and Amortization | (20,321) | (18,877) |
Net Book Value | $ 5,906 | $ 7,916 |
Note 5 - Premises, Equipment,_5
Note 5 - Premises, Equipment, Other Assets and Other Liabilities - Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Cost method equity investments: | |||
Federal Reserve Bank stock (1) | [1] | $ 14,069 | $ 14,069 |
Other investments | 158 | 158 | |
Total cost method equity investments | 14,227 | 14,227 | |
Life insurance cash surrender value | 60,444 | 57,810 | |
Net deferred tax asset | 0 | 11,085 | |
Right-of-use asset | 18,832 | 17,136 | |
Limited partnership investments | 18,335 | 20,773 | |
Interest receivable | 33,022 | 28,797 | |
Prepaid assets | 4,572 | 3,737 | |
Other assets | 10,471 | 10,767 | |
Total other assets | $ 159,903 | $ 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 5 - Premises, Equipment,_6
Note 5 - Premises, Equipment, Other Assets and Other Liabilities - Amounts Recognized in Net Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Investment loss included in pre-tax income | $ 2,440 | $ 2,400 | $ 2,900 |
Tax credits recognized in provision for income taxes | $ 900 | $ 875 | $ 1,121 |
Note 5 - Premises, Equipment,_7
Note 5 - Premises, Equipment, Other Assets and Other Liabilities - Summary of Other Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Net deferred tax liability | $ 25,778 | $ 0 |
Securities purchases pending settlement | 29,000 | 0 |
Other liabilities | 38,988 | 27,453 |
Total other liabilities | 112,598 | 44,589 |
Other Liabilities [Member] | ||
Operating lease liability | $ 18,832 | $ 17,136 |
Note 5 - Premises, Equipment,_8
Note 5 - Premises, Equipment, Other Assets and Other Liabilities - Summarizes of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 5,615 | |
2022 | 4,691 | |
2023 | 3,960 | |
2024 | 2,337 | |
2025 | 1,089 | |
Thereafter | 1,968 | |
Total minimum lease payments | 19,660 | |
Less: discount | (828) | |
Other Liabilities [Member] | ||
Operating lease liability | $ 18,832 | $ 17,136 |
Note 6 - Goodwill and Identif_3
Note 6 - Goodwill and Identifiable Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill and Intangible Asset Impairment, Total | $ 0 | $ 0 |
Amortization Expense, Adjustment Resulting from a Change in Estimates of Useful Lives or Residual Values | $ 0 | $ 0 |
Note 6 - Goodwill and Identif_4
Note 6 - Goodwill and Identifiable Intangible Assets - Carrying Values of Goodwill (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Goodwill | $ 121,673 | $ 121,673 |
Note 6 - Goodwill and Identif_5
Note 6 - Goodwill and Identifiable Intangible Assets - Gross Carrying Amount of Intangible Assets and Accumulated Amortization (Details) - Core Deposits [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Gross Carrying Amount | $ 56,808 | $ 56,808 |
Accumulated Amortization | $ (55,704) | $ (55,417) |
Note 6 - Goodwill and Identif_6
Note 6 - Goodwill and Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
For the year ended December 31, 2020 (actual) | $ 287 | $ 538 | $ 1,921 |
Core Deposits [Member] | |||
For the year ended December 31, 2020 (actual) | 287 | ||
Estimate for year ending December 31, 2021 | 269 | ||
2022 | 252 | ||
2023 | 236 | ||
2024 | 222 | ||
2025 | $ 125 |
Note 7 - Deposits and Borrowe_3
Note 7 - Deposits and Borrowed Funds (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Demand Deposit Overdrafts | $ 682 | $ 1,055 | |
Interest Expense, Time Deposits, $100,000 or More | $ 319 | $ 326 | $ 368 |
Note 7 - Deposits and Borrowe_4
Note 7 - Deposits and Borrowed Funds - Deposits Detail (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Noninterest-bearing | $ 2,725,177 | $ 2,240,112 |
Interest-bearing: | ||
Transaction | 1,102,601 | 931,888 |
Savings | 1,703,812 | 1,471,284 |
Time deposits less than $100 thousand | 79,825 | 88,355 |
Time deposits $100 thousand through $250 thousand | 49,323 | 54,874 |
Time deposits more than $250 thousand | 27,241 | 26,108 |
Total deposits | $ 5,687,979 | $ 4,812,621 |
Note 7 - Deposits and Borrowe_5
Note 7 - Deposits and Borrowed Funds - Short-term Borrowed Funds (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Collateral Carrying Value | $ 255,214 | $ 264,571 |
Short-term borrowed funds | 102,545 | 30,928 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Collateral Carrying Value | 0 | 65,833 |
Agency Residential MBS [Member] | ||
Collateral Carrying Value | 67,019 | 52,485 |
Corporate Debt Securities [Member] | ||
Collateral Carrying Value | $ 188,195 | $ 146,253 |
Note 7 - Deposits and Borrowe_6
Note 7 - Deposits and Borrowed Funds - Borrowed Funds, Highest Month End Balances (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Securities Sold under Agreements to Repurchase [Member] | ||
Securities sold under repurchase agreements | $ 110,846 | $ 61,411 |
Note 8 - Shareholders' Equity_2
Note 8 - Shareholders' Equity (Details Textual) $ / shares in Units, $ in Thousands | Jan. 29, 2019shares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Feb. 13, 2009$ / sharesshares |
Share Price (in dollars per share) | $ / shares | $ 55.29 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 184,000 | 250,000 | 249,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 8.64 | $ 10.19 | $ 9.98 | ||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ | $ 2,587 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ | 693 | $ 3,398 | $ 4,264 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ | $ 1,735 | $ 1,980 | $ 1,835 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 52,000 | 516,000 | 292,000 | ||
Excess Tax Deduction Exceeding Related Share-based Compensation, Operating Activities | $ | $ 295 | $ 1,485 | $ 2,516 | ||
Income Tax Expense (Benefit), Total | $ | $ 26,390 | $ 24,827 | 19,433 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | 10,000 | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 246,640 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 50.92 | ||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 50,788 | ||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | 1,624,000 | ||||
Additional Classes of Stock Authorized | 2 | ||||
Additional Classes of Stock Authorized, Shares Authorized, Per Class (in shares) | 1,000,000 | ||||
Common Stock, Shares Authorized (in shares) | 150,000,000 | 150,000,000 | |||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 26,807,000 | 27,062,000 | |||
Common Class B [Member] | |||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 0 | ||||
Accounting Standards Update 2016-09 [Member] | |||||
Income Tax Expense (Benefit), Total | $ | $ (87) | $ (435) | (737) | ||
NQSO [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||
Restricted Performance Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ | $ 534 | $ 1,073 | 1,143 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms (Year) | 1 year 3 months 18 days | 1 year | |||
Share-based Payment Arrangement, Expense | $ | $ 533 | $ 758 | $ 660 | ||
Share-based Payment Arrangement, Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,131,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 8 months 12 days | ||||
Stock Appreciation Rights (SARs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 0 | 0 |
Note 8 - Shareholders' Equity -
Note 8 - Shareholders' Equity - Information About Stock Options Granted (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($)$ / sharesshares | |
Options outstanding, range of exercise price, upper range (in dollars per share) | $ 70 |
Options outstanding, number outstanding (in shares) | shares | 693 |
Options outstanding, aggregate intrinsic value | $ | $ 622 |
Options outstanding, weighted average remaining contractual life (Year) | 7 years 6 months |
Options outstanding, weighted average exercise price (in dollars per share) | $ 61 |
Options exercisable, number outstanding (in shares) | shares | 320 |
Options exercisable, aggregate intrinsic value | $ | $ 622 |
Options exercisable, weighted average remaining contractual life (Year) | 6 years 4 months 24 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 58 |
Range 1 [Member] | |
Options outstanding, range of exercise price, upper range (in dollars per share) | $ 45 |
Options outstanding, number outstanding (in shares) | shares | 46 |
Options outstanding, aggregate intrinsic value | $ | $ 586 |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 7 months 6 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 43 |
Options exercisable, number outstanding (in shares) | shares | 46 |
Options exercisable, aggregate intrinsic value | $ | $ 586 |
Options exercisable, weighted average remaining contractual life (Year) | 4 years 7 months 6 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 43 |
Range 2 [Member] | |
Options outstanding, range of exercise price, upper range (in dollars per share) | $ 50 |
Options outstanding, number outstanding (in shares) | shares | 0 |
Options outstanding, aggregate intrinsic value | $ | $ 0 |
Options exercisable, number outstanding (in shares) | shares | 0 |
Options exercisable, aggregate intrinsic value | $ | $ 0 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0 |
Range 3 [Member] | |
Options outstanding, range of exercise price, upper range (in dollars per share) | $ 55 |
Options outstanding, number outstanding (in shares) | shares | 19 |
Options outstanding, aggregate intrinsic value | $ | $ 36 |
Options outstanding, weighted average remaining contractual life (Year) | 3 years 1 month 6 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 53 |
Options exercisable, number outstanding (in shares) | shares | 19 |
Options exercisable, aggregate intrinsic value | $ | $ 36 |
Options exercisable, weighted average remaining contractual life (Year) | 3 years 1 month 6 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 53 |
Range 4 [Member] | |
Options outstanding, range of exercise price, upper range (in dollars per share) | $ 60 |
Options outstanding, number outstanding (in shares) | shares | 90 |
Options outstanding, aggregate intrinsic value | $ | $ 0 |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 1 month 6 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 57 |
Options exercisable, number outstanding (in shares) | shares | 90 |
Options exercisable, aggregate intrinsic value | $ | $ 0 |
Options exercisable, weighted average remaining contractual life (Year) | 6 years 1 month 6 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 57 |
Range 5 [Member] | |
Options outstanding, range of exercise price, upper range (in dollars per share) | $ 65 |
Options outstanding, number outstanding (in shares) | shares | 353 |
Options outstanding, aggregate intrinsic value | $ | |
Options outstanding, weighted average remaining contractual life (Year) | 7 years 7 months 6 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 62 |
Options exercisable, number outstanding (in shares) | shares | 165 |
Options exercisable, aggregate intrinsic value | $ | |
Options exercisable, weighted average remaining contractual life (Year) | 7 years 4 months 24 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 62 |
Range 6 [Member] | |
Options outstanding, range of exercise price, upper range (in dollars per share) | $ 70 |
Options outstanding, number outstanding (in shares) | shares | 185 |
Options outstanding, aggregate intrinsic value | $ | $ 0 |
Options outstanding, weighted average remaining contractual life (Year) | 9 years 1 month 6 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 66 |
Options exercisable, number outstanding (in shares) | shares | 0 |
Options exercisable, aggregate intrinsic value | $ | $ 0 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0 |
Note 8 - Shareholders' Equity_3
Note 8 - Shareholders' Equity - Weighted Average Assumptions Used in the Option Pricing to Value Stock Options Granted (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Expected volatility (1) | [1] | 20.00% | 20.00% | 20.00% |
Expected life in years (2) (Year) | [2] | 3 years 6 months | 4 years 8 months 12 days | 4 years 9 months 18 days |
Risk-free interest rate (3) | [3] | 1.52% | 2.67% | 2.50% |
Expected dividend yield | 2.59% | 2.55% | 2.65% | |
Fair value per award (in dollars per share) | $ 8.64 | $ 10.19 | $ 9.98 | |
[1] | Measured using daily price changes of Company's stock over respective expected term of the option and the implied volatility derived from the market prices of the Company's stock and traded options. | |||
[2] | The number of years that the Company estimates that the options will be outstanding prior to exercise. | |||
[3] | The risk-free rate over the expected life based on the US Treasury yield curve in effect at the time of the grant. |
Note 8 - Shareholders' Equity_4
Note 8 - Shareholders' Equity - Summary of Option Activity (Details) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Outstanding (in shares) | 561 | ||
Outstanding (in dollars per share) | $ 58.75 | ||
Granted (in shares) | 184 | 250 | 249 |
Granted (in dollars per share) | $ 66.41 | ||
Exercised (in shares) | (52) | (516) | (292) |
Exercised (in dollars per share) | $ 52.92 | ||
Forfeited or expired (in shares) | 0 | ||
Forfeited or expired (in dollars per share) | $ 0 | ||
Outstanding (in shares) | 693 | 561 | |
Outstanding (in dollars per share) | $ 61.25 | $ 58.75 | |
Outstanding (Year) | 7 years 6 months | ||
Exercisable (in shares) | 320 | ||
Exercisable (in dollars per share) | $ 57.51 | ||
Exercisable (Year) | 6 years 4 months 24 days |
Note 8 - Shareholders' Equity_5
Note 8 - Shareholders' Equity - Summary of Nonvested Option Activity (Details) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Nonvested at January 1, 2020 (in shares) | 372 | ||
Nonvested at January 1, 2020 (in dollars per share) | $ 9.81 | ||
Granted (in shares) | 184 | 250 | 249 |
Granted (in dollars per share) | $ 8.64 | ||
Vested (in shares) | (183) | ||
Vested (in dollars per share) | $ 9.50 | ||
Forfeited (in shares) | 0 | ||
Forfeited (in dollars per share) | $ 0 | ||
Nonvested at December 31, 2020 (in shares) | 373 | 372 | |
Nonvested at December 31, 2020 (in dollars per share) | $ 9.39 |
Note 8 - Shareholders' Equity_6
Note 8 - Shareholders' Equity - Summary of the Status of Restricted Performance Shares (Details) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Outstanding at January 1, (in shares) | 27 | 39 |
Granted (in shares) | 10 | 10 |
Issued upon vesting (in shares) | (9) | (17) |
Forfeited (in shares) | 0 | (5) |
Outstanding at December 31, (in shares) | 28 | 27 |
Note 9 - Regulatory Capital (De
Note 9 - Regulatory Capital (Details Textual) | Dec. 31, 2020 |
Capital Conservation Buffer | 2.50% |
Note 9 - Regulatory Capital - C
Note 9 - Regulatory Capital - Capital Ratios for the Company and the Bank (Details) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Common Equity Tier 1 Capital | $ 604,833 | $ 579,216 | |
Common Equity Tier 1 Capital, ratio | 0.1604 | 0.1622 | |
Common Equity Tier 1 Capital Required for Capital Adequacy | $ 263,903 | $ 249,976 | |
Common Equity Tier 1 Capital Required for Capital Adequacy, ratio | 7.00% | 7.00% | |
Tier 1 Capital | $ 604,833 | $ 579,216 | |
Tier 1 Capital, raio | 0.1604 | 0.1622 | |
Tier 1 Capital Required for Capital Adequacy | $ 320,454 | $ 303,542 | |
Tier 1 Capital Required for Capital Adequacy, ratio | 0.0850 | 0.0850 | |
Total Capital | $ 628,797 | $ 600,860 | |
Total Capital, ratio | 0.1668 | 0.1683 | |
Total Capital Required for Capital Adequacy | $ 395,855 | $ 374,964 | |
Total Capital Required for Capital Adequacy, ratio | 0.1050 | 0.1050 | |
Leverage Ratio, amount | [1] | $ 604,833 | $ 579,216 |
Leverage Ratio | [1] | 0.0940 | 0.1050 |
Leverage Ratio Required for Capital Adequacy, amount | [1] | $ 257,488 | $ 220,755 |
Leverage Ratio Required for Capital Adequacy | [1] | 0.0400 | 0.0400 |
Westamerica Bank [Member] | |||
Common Equity Tier 1 Capital | $ 484,270 | $ 415,730 | |
Common Equity Tier 1 Capital, ratio | 0.1300 | 0.1180 | |
Common Equity Tier 1 Capital Required for Capital Adequacy | $ 260,755 | $ 246,671 | |
Common Equity Tier 1 Capital Required for Capital Adequacy, ratio | 7.00% | 7.00% | |
Common Equity Tier 1 Capital To Be Well-capitalized | $ 242,130 | $ 229,052 | |
Common Equity Tier 1 Capital To Be Well-capitalized, ratio | 6.50% | 6.50% | |
Tier 1 Capital | $ 484,270 | $ 415,730 | |
Tier 1 Capital, raio | 0.1300 | 0.1180 | |
Tier 1 Capital Required for Capital Adequacy | $ 316,632 | $ 299,529 | |
Tier 1 Capital Required for Capital Adequacy, ratio | 0.0850 | 0.0850 | |
Tier 1 Capital To Be Well-capitalized | $ 298,006 | $ 281,910 | |
Tier 1 Capital To Be Well-capitalized, ratio | 0.0800 | 0.0800 | |
Total Capital | $ 514,234 | $ 443,374 | |
Total Capital, ratio | 0.1380 | 0.1258 | |
Total Capital Required for Capital Adequacy | $ 391,133 | $ 370,007 | |
Total Capital Required for Capital Adequacy, ratio | 0.1050 | 0.1050 | |
Total Capital To Be Well-capitalized | $ 372,508 | $ 352,388 | |
Total Capital To Be Well-capitalized, ratio | 0.1000 | 0.1000 | |
Leverage Ratio, amount | [1] | $ 484,270 | $ 415,730 |
Leverage Ratio | [1] | 0.0758 | 0.0760 |
Leverage Ratio Required for Capital Adequacy, amount | [1] | $ 255,560 | $ 218,851 |
Leverage Ratio Required for Capital Adequacy | [1] | 0.0400 | 0.0400 |
Leverage Ratio To Be Well-capitalized, amount | $ 319,451 | $ 273,564 | |
Leverage Ratio To Be Well-capitalized, ratio | [1] | 0.0500 | 0.0500 |
[1] | The leverage ratio consists of Tier 1capital divided by the most recent quarterly average total assets, excluding certain intangible assets. |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Tax Assets, Valuation Allowance, Total | $ 0 | $ 269 | ||
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions | $ 909 | 0 | 0 | |
Deferred Tax Assets, Amended Tax Returns | $ 1,003 | |||
Unrecognized Tax Benefits, Ending Balance | 0 | 0 | $ 909 | |
Income Tax Examination, Penalties and Interest Expense, Total | 0 | 0 | ||
California Franchise Tax Board [Member] | State and Local Jurisdiction [Member] | ||||
Deferred Tax Assets, Capital Loss Carryforwards | $ 2,429 | 2,875 | ||
Operating Loss Carryforwards, Expiration Period (Year) | 5 years | |||
Deferred Tax Assets, Valuation Allowance, Total | $ 0 | $ 269 | ||
Income Tax Examination, Year under Examination | 2019 2018 2017 2016 | |||
Internal Revenue Service (IRS) [Member] | Domestic Tax Authority [Member] | ||||
Income Tax Examination, Year under Examination | 2019 2018 2017 |
Note 10 - Income Taxes - Compon
Note 10 - Income Taxes - Components of Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred tax asset | ||
Allowance for credit losses | $ 6,789 | $ 6,326 |
State franchise taxes | 2,262 | 1,948 |
Deferred compensation | 4,789 | 5,118 |
Real estate owned | 0 | 400 |
Purchased assets and assumed liabilities | 552 | 406 |
Post-retirement benefits | 480 | 517 |
Employee benefit accruals | 2,353 | 1,875 |
VISA Class B shares | 284 | 263 |
Limited partnership investments | 1,066 | 1,228 |
Impaired capital assets | 2,429 | 2,875 |
Accrued liabilities | 416 | 1,606 |
Premises and equipment | 585 | 261 |
Other | 800 | 377 |
Sub total deferred tax asset | 22,805 | 23,200 |
Tax valuation | 0 | (269) |
Total deferred tax asset | 22,805 | 22,931 |
Deferred tax liability | ||
Net deferred loan fees | 106 | 239 |
Securities available for sale | 48,021 | 10,934 |
Intangible assets | 456 | 673 |
Total deferred tax liability | 48,583 | 11,846 |
Net deferred tax liability | (25,778) | 0 |
Net deferred tax asset | $ 0 | $ 11,085 |
Note 10 - Income Taxes - Provis
Note 10 - Income Taxes - Provision for Federal and State Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Federal | $ 15,982 | $ 11,570 | $ 10,560 |
State | 10,654 | 9,595 | 9,816 |
Total current | 26,636 | 21,165 | 20,376 |
Federal | (538) | 2,340 | (206) |
State | 292 | 1,322 | (737) |
Total deferred | (246) | 3,662 | (943) |
Provision for income taxes | $ 26,390 | $ 24,827 | $ 19,433 |
Note 10 - Income Taxes - Reconc
Note 10 - Income Taxes - Reconciliation of Income Tax Provision (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Federal income taxes due at statutory rate | $ 22,429 | $ 22,095 | $ 19,109 |
Interest on state and municipal securities and loans not taxable for federal income tax purposes | (2,808) | (3,584) | (4,375) |
State franchise taxes, net of federal income tax benefit | 8,647 | 8,625 | 7,173 |
Stock compensation deduction in excess of book expense | (62) | (312) | (528) |
Tax credits | (1,061) | (1,040) | (1,291) |
Dividend received deduction | (44) | (38) | (32) |
Cash value life insurance | (383) | (464) | (490) |
Other | (328) | (455) | (133) |
Provision for income taxes | $ 26,390 | $ 24,827 | $ 19,433 |
Note 10 - Income Taxes - Reco_2
Note 10 - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Balance | $ 0 | $ 909 | |
Additions for tax positions taken in the current period | 0 | 0 | |
Reductions for tax positions taken in the current period | $ 909 | 0 | 0 |
Additions for tax positions taken in prior years | 0 | 0 | |
Reductions for tax positions taken in prior years | 0 | 0 | |
Decrease related to settlements with taxing authorities | 0 | (909) | |
Decrease as a result of a lapse in statute of limitations | 0 | 0 | |
Balance | $ 0 | $ 0 |
Note 11 - Fair Value Measurem_3
Note 11 - Fair Value Measurements (Details Textual) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value Inputs, Appraisal Rate | 10.00% |
Note 11 - Fair Value Measurem_4
Note 11 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |||
Investment securities available for sale | $ 4,063,185 | $ 3,078,846 | |||
Agency Residential MBS [Member] | |||||
Investment securities available for sale | 652,952 | 939,750 | |||
US Treasury Securities [Member] | |||||
Investment securities available for sale | 20,000 | ||||
US Government Agencies Debt Securities [Member] | |||||
Investment securities available for sale | 154 | 544 | |||
US Government-sponsored Enterprises Debt Securities [Member] | |||||
Investment securities available for sale | 111,167 | ||||
US States and Political Subdivisions Debt Securities [Member] | |||||
Investment securities available for sale | 111,010 | 163,139 | |||
Debt Security, Corporate, US [Member] | |||||
Investment securities available for sale | 2,117,978 | 1,833,783 | |||
Agency Commercial MBS [Member] | |||||
Investment securities available for sale | 3,708 | ||||
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | |||||
Investment securities available for sale | 24,990 | ||||
Fair Value, Recurring [Member] | |||||
Investment securities available for sale | 4,063,185 | 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 | 4,063,185 | 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 | 652,952 | 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 | 652,952 | 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] | US Government Agencies Debt Securities [Member] | |||||
Investment securities available for sale | 154 | 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 | 154 | 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 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 States and Political Subdivisions Debt Securities [Member] | |||||
Investment securities available for sale | 111,010 | 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 | 111,010 | 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 | 2,117,978 | 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 | 2,117,978 | 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] | Agency Commercial MBS [Member] | |||||
Investment securities available for sale | 3,708 | ||||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | ||||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 3,708 | ||||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | [2] | 0 | |||
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | |||||
Investment securities available for sale | 24,990 | ||||
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 | 0 | ||||
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 | 24,990 | ||||
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 | 0 | ||||
Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | |||||
Investment securities available for sale | 1,156,101 | 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 | 1,156,101 | 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 year ended December 31, 2020. | ||||
[2] | There were no transfers in to or out of level 3 during the year ended December 31, 2019. |
Note 11 - Fair Value Measurem_5
Note 11 - Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value | $ 9,161 | $ 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 | 9,161 | 10,071 |
Other Real Estate Owned [Member] | ||
Fair Value | 0 | 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 | 0 | 43 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 5,270 | 5,747 |
Total Losses | 0 | 0 |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 3,710 | 4,091 |
Total Losses | 0 | 0 |
Impaired Loans [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | 181 | 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 | 5,270 | 5,747 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 3,710 | 4,091 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | $ 181 | $ 190 |
Note 11 - Fair Value Measurem_6
Note 11 - Fair Value Measurements - Fair Value Estimates for Financial Instruments, Excluding Financial Instruments Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Reported Value Measurement [Member] | ||
Cash and due from banks | $ 621,275 | $ 373,421 |
Debt securities held to maturity | 515,589 | 738,072 |
Loans | 1,232,389 | 1,107,180 |
Deposits | 5,687,979 | 4,812,621 |
Short-term borrowed funds | 102,545 | 30,928 |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 621,275 | 373,421 |
Debt securities held to maturity | 529,678 | 744,296 |
Loans | 1,290,938 | 1,152,949 |
Deposits | 5,688,049 | 4,810,934 |
Short-term borrowed funds | 102,545 | 30,928 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 621,275 | 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 | 529,678 | 744,296 |
Loans | 0 | 0 |
Deposits | 5,531,590 | 4,643,284 |
Short-term borrowed funds | 102,545 | 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 | 1,290,938 | 1,152,949 |
Deposits | 156,459 | 167,650 |
Short-term borrowed funds | $ 0 | $ 0 |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2019 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2017 | |
Loan Commitments, Not Unconditionally Cancellable | $ 37,456 | ||||
Unfunded Loan Commitments | 277,878 | $ 265,311 | |||
Guarantor Obligations, Current Carrying Value | 580 | 550 | |||
Reserve for Unfunded Commitments | $ 2,160 | ||||
Other Liabilities [Member] | |||||
Reserve for Unfunded Commitments | 101 | 2,160 | |||
Financial Standby Letter of Credit [Member] | |||||
Letters of Credit Outstanding, Amount | 2,357 | 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 | 1,433 | $ 5,542 | ||
Loss Contingency Accrual, Period Increase (Decrease), Total | $ 301 | ||||
Loss Contingency Accrual, Payments | $ 4,410 |
Note 13 - Retirement Benefit _3
Note 13 - Retirement Benefit Plans (Details Textual) - USD ($) Pure in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Contribution Plan, Cost | $ 917 | $ 1,000 | $ 1,057 |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 995 | $ 986 | $ 1,052 |
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year | 0.00% |
Note 13 - Retirement Benefit _4
Note 13 - Retirement Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Service ( benefit) cost | $ (35) | $ (57) | $ 24 |
Interest cost | 52 | 72 | 72 |
Amortization of unrecognized transition obligation | 0 | 0 | 0 |
Net periodic cost (benefit) | 17 | 15 | 96 |
Amortization of unrecognized transition obligation, net of tax | 0 | 0 | 0 |
Total recognized in net periodic cost (benefit) and accumulated other comprehensive income | $ 17 | $ 15 | $ 96 |
Note 13 - Retirement Benefit _5
Note 13 - Retirement Benefit Plans - Obligation and Funded Status (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Benefit obligation at beginning of year | $ 1,782 | $ 1,913 | $ 1,958 | |||
Service ( benefit) cost | (35) | (57) | 24 | |||
Interest cost | 52 | 72 | 72 | |||
Benefits paid | (145) | (146) | (141) | |||
Benefit obligation at end of year | 1,654 | 1,782 | 1,913 | |||
Accumulated post-retirement benefit obligation | 1,654 | 1,913 | 1,958 | $ 1,654 | $ 1,782 | $ 1,913 |
Fair value of plan assets | 0 | 0 | 0 | |||
Accumulated post-retirement benefit obligation in excess of plan assets | 1,654 | 1,782 | 1,913 | |||
Retirees [Member] | ||||||
Benefit obligation at beginning of year | 1,782 | 1,913 | ||||
Benefit obligation at end of year | 1,654 | 1,782 | 1,913 | |||
Accumulated post-retirement benefit obligation | 1,782 | 1,913 | 1,913 | 1,654 | 1,782 | 1,913 |
Other Participants [Member] | ||||||
Benefit obligation at beginning of year | 0 | 0 | ||||
Benefit obligation at end of year | 0 | 0 | 0 | |||
Accumulated post-retirement benefit obligation | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Note 13 - Retirement Benefit _6
Note 13 - Retirement Benefit Plans - Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Discount rate | 1.80% | 2.90% | 3.76% |
Discount rate | 2.90% | 3.76% | 3.70% |
Note 13 - Retirement Benefit _7
Note 13 - Retirement Benefit Plans - Estimated Future Benefit Payments (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021 | $ 153 |
2022 | 153 |
2023 | 153 |
2024 | 151 |
2025 | 146 |
Years 2026-2030 | $ 589 |
Note 14 - Related Party Trans_3
Note 14 - Related Party Transactions - Related Party Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance at January 1, | $ 533 | $ 577 |
Originations | 0 | 0 |
Principal reductions | (34) | (44) |
Balance at December 31, | $ 499 | $ 533 |
Percent of total loans outstanding. | 0.04% | 0.05% |
Note 16 - Other Comprehensive_3
Note 16 - Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (Loss) and Other Related Tax Effects (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net unrealized gains (losses) arising during the year, before tax | $ 125,519 | $ 93,936 | $ (27,939) |
Net unrealized gains (losses) arising during the year, tax | (37,108) | (27,771) | 8,258 |
Net unrealized gains (losses) arising during the year, net of tax | 88,411 | 66,165 | (19,681) |
Reclassification of gains (losses) included in net income, before tax | (71) | (167) | 0 |
Reclassification of gains (losses) included in net income, tax | 21 | 49 | 0 |
Reclassification of gains (losses) included in net income, net of tax | (50) | (118) | 0 |
Other comprehensive income (loss), before tax | 125,448 | 93,769 | (27,939) |
Other comprehensive income, tax | (37,087) | (27,722) | 8,258 |
Other comprehensive income (loss), net of tax | $ 88,361 | $ 66,047 | $ (19,681) |
Note 16 - Other Comprehensive_4
Note 16 - Other Comprehensive Income (Loss) - Cumulative Other Comprehensive Income (Loss) Balances (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 731,417 | $ 615,591 | $ 590,239 |
Changes in unrealized gains (losses) on debt securities available for sale, net of tax | 88,361 | 66,047 | (19,681) |
Balance | 844,809 | 731,417 | 615,591 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | 52 | (2,801) | |
Balance | 52 | (2,801) | |
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Balance | 731,469 | 612,790 | 590,239 |
Balance | 731,469 | 612,790 | |
AOCI Attributable to Parent [Member] | |||
Balance | 26,051 | (39,996) | (16,832) |
Reclass stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 | (3,625) | ||
Balance | 114,412 | 26,051 | (39,996) |
AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | 142 | ||
AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Balance | 26,051 | (39,996) | (16,690) |
Balance | 26,051 | (39,996) | |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||
Changes in unrealized gains (losses) on debt securities available for sale, net of tax | $ 88,361 | $ 66,047 | $ (19,681) |
Note 17 - Earnings Per Common_3
Note 17 - Earnings Per Common Share (Details Textual) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement, Option [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 577 | 382 | 423 |
Note 17 - Earnings Per Common_4
Note 17 - 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 | 12 Months Ended | |||||||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income (numerator) | $ 23,838 | $ 20,051 | $ 19,562 | $ 16,962 | $ 20,728 | $ 20,390 | $ 19,625 | $ 19,646 | $ 19,055 | $ 16,993 | $ 18,010 | $ 17,506 | $ 80,413 | $ 80,389 | $ 71,564 |
Weighted average number of common shares outstanding - basic (in shares) | 26,942 | 26,956 | 26,649 | ||||||||||||
Basic earnings per common share (in dollars per share) | $ 0.89 | $ 0.74 | $ 0.72 | $ 0.63 | $ 0.77 | $ 0.76 | $ 0.73 | $ 0.73 | $ 0.71 | $ 0.64 | $ 0.68 | $ 0.66 | $ 2.98 | $ 2.98 | $ 2.69 |
Add common stock equivalents for options (in shares) | 18 | 50 | 107 | ||||||||||||
Weighted average number of common shares outstanding - diluted (denominator) (in shares) | 26,960 | 27,006 | 26,756 | ||||||||||||
Diluted earnings per common share (in dollars per share) | $ 0.89 | $ 0.74 | $ 0.72 | $ 0.63 | $ 0.77 | $ 0.75 | $ 0.73 | $ 0.73 | $ 0.71 | $ 0.63 | $ 0.67 | $ 0.66 | $ 2.98 | $ 2.98 | $ 2.67 |
Note 18 - Westamerica Bancorp_3
Note 18 - Westamerica Bancorporation (Parent Company Only Condensed Financial Information) - Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Salaries and benefits | $ 50,749 | $ 51,054 | $ 53,007 | ||||||||||||
Income before taxes and equity in undistributed income of subsidiaries | $ 31,894 | $ 26,772 | $ 25,904 | $ 22,233 | $ 26,950 | $ 27,016 | $ 25,866 | $ 25,385 | $ 25,044 | $ 21,249 | $ 22,915 | $ 21,789 | 106,803 | 105,216 | 90,997 |
Income tax (expense) benefit | (26,390) | (24,827) | (19,433) | ||||||||||||
Net income | $ 23,838 | $ 20,051 | $ 19,562 | $ 16,962 | $ 20,728 | $ 20,390 | $ 19,625 | $ 19,646 | $ 19,055 | $ 16,993 | $ 18,010 | $ 17,506 | 80,413 | 80,389 | 71,564 |
Other comprehensive income (loss), net of tax | 88,361 | 66,047 | (19,681) | ||||||||||||
Comprehensive income | 168,774 | 146,436 | 51,883 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Dividends from subsidiaries | 10,783 | 80,067 | 43,892 | ||||||||||||
Interest income | 56 | 54 | 33 | ||||||||||||
Other income | 11,438 | 8,778 | 9,447 | ||||||||||||
Total income | 22,277 | 88,899 | 53,372 | ||||||||||||
Salaries and benefits | 7,107 | 6,978 | 7,575 | ||||||||||||
Other expense | 2,206 | 3,729 | 3,181 | ||||||||||||
Total expense | 9,313 | 10,707 | 10,756 | ||||||||||||
Income before taxes and equity in undistributed income of subsidiaries | 12,964 | 78,192 | 42,616 | ||||||||||||
Income tax (expense) benefit | (454) | 636 | 919 | ||||||||||||
Earnings of subsidiaries greater than subsidiary dividends | 67,903 | 1,561 | 28,029 | ||||||||||||
Net income | 80,413 | 80,389 | 71,564 | ||||||||||||
Other comprehensive income (loss), net of tax | 88,361 | 66,047 | (19,681) | ||||||||||||
Comprehensive income | $ 168,774 | $ 146,436 | $ 51,883 |
Note 18 - Westamerica Bancorp_4
Note 18 - Westamerica Bancorporation (Parent Company Only Condensed Financial Information) - Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Premises and equipment, net | $ 32,813 | $ 34,597 | ||
Other assets | 159,903 | 164,332 | ||
Total assets | 6,747,931 | 5,619,555 | ||
Other liabilities | 112,598 | 44,589 | ||
Total liabilities | 5,903,122 | 4,888,138 | ||
Shareholders' equity | 844,809 | 731,417 | $ 615,591 | $ 590,239 |
Total liabilities and shareholders' equity | 6,747,931 | 5,619,555 | ||
Parent Company [Member] | ||||
Cash | 78,364 | 122,663 | $ 72,878 | $ 53,409 |
Premises and equipment, net | 10,459 | 11,006 | ||
Accounts receivable from Westamerica Bank | 257 | 231 | ||
Other assets | 40,852 | 37,645 | ||
Total assets | 860,635 | 745,931 | ||
Accounts payable to Westamerica Bank | 29 | 33 | ||
Other liabilities | 15,797 | 14,481 | ||
Total liabilities | 15,826 | 14,514 | ||
Shareholders' equity | 844,809 | 731,417 | ||
Total liabilities and shareholders' equity | 860,635 | 745,931 | ||
Parent Company [Member] | Bank Subsidiary [Member] | ||||
Investment | 730,248 | 573,931 | ||
Parent Company [Member] | Non-bank Subsidiaries [Member] | ||||
Investment | $ 455 | $ 455 |
Note 18 - Westamerica Bancorp_5
Note 18 - Westamerica Bancorporation (Parent Company Only Condensed Financial Information) - Cash Flows Statement (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 23,838 | $ 20,051 | $ 19,562 | $ 16,962 | $ 20,728 | $ 20,390 | $ 19,625 | $ 19,646 | $ 19,055 | $ 16,993 | $ 18,010 | $ 17,506 | $ 80,413 | $ 80,389 | $ 71,564 |
Depreciation and amortization | 22,647 | 20,626 | 24,402 | ||||||||||||
Increase in other assets | (3,528) | (14,806) | (4,017) | ||||||||||||
Stock option compensation expense | 1,875 | 1,744 | 1,988 | ||||||||||||
Provision (benefit) for deferred income tax | (246) | 3,662 | (943) | ||||||||||||
Increase in other liabilities | 14,280 | (5,298) | (580) | ||||||||||||
Life insurance gains | 0 | (433) | (585) | ||||||||||||
Gain on disposal of premises and equipment | (71) | 0 | (216) | ||||||||||||
Net Cash Provided by Operating Activities | 107,744 | 80,702 | 96,629 | ||||||||||||
Proceeds from life insurance policies | 0 | 1,273 | 1,169 | ||||||||||||
Net Cash Provided by Investing Activities | (748,922) | (22,297) | (253,563) | ||||||||||||
Financing Activities | |||||||||||||||
Exercise of stock options | 2,838 | 13,699 | 13,373 | ||||||||||||
Retirement of common stock | (16,496) | (488) | (524) | ||||||||||||
Common stock dividends paid | 44,285 | 43,942 | 42,635 | ||||||||||||
Net Cash Used in Financing Activities | 889,032 | (105,268) | 2,216 | ||||||||||||
Interest paid for the period | 1,830 | 1,898 | 1,932 | ||||||||||||
Income tax payments for the period | 26,462 | 24,491 | 13,627 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Net income | 80,413 | 80,389 | 71,564 | ||||||||||||
Depreciation and amortization | 608 | 449 | 361 | ||||||||||||
(Increase) decrease in accounts receivable from affiliates | (150) | 80 | (43) | ||||||||||||
Increase in other assets | (2,421) | (71) | (2,638) | ||||||||||||
Stock option compensation expense | 1,875 | 1,744 | 1,988 | ||||||||||||
Provision (benefit) for deferred income tax | 428 | (315) | 5,028 | ||||||||||||
Increase in other liabilities | 855 | 856 | 978 | ||||||||||||
Earnings of subsidiaries greater than subsidiary dividends | (67,903) | (1,561) | (28,029) | ||||||||||||
Life insurance gains | 0 | 0 | (585) | ||||||||||||
Gain on disposal of premises and equipment | (61) | (1,055) | (538) | ||||||||||||
Net Cash Provided by Operating Activities | 13,644 | 80,516 | 48,086 | ||||||||||||
Proceeds from life insurance policies | 0 | 0 | 1,169 | ||||||||||||
Net Cash Provided by Investing Activities | 0 | 0 | 1,169 | ||||||||||||
Financing Activities | |||||||||||||||
Exercise of stock options | 2,838 | 13,699 | 13,373 | ||||||||||||
Retirement of common stock | (16,496) | (488) | (524) | ||||||||||||
Common stock dividends paid | 44,285 | 43,942 | 42,635 | ||||||||||||
Net Cash Used in Financing Activities | (57,943) | (30,731) | (29,786) | ||||||||||||
Net change in cash and due from banks | (44,299) | 49,785 | 19,469 | ||||||||||||
Cash and due from banks at beginning of period | $ 122,663 | $ 72,878 | $ 53,409 | 122,663 | 72,878 | 53,409 | |||||||||
Cash and due from banks at end of period | $ 78,364 | $ 122,663 | $ 72,878 | 78,364 | 122,663 | 72,878 | |||||||||
Interest paid for the period | 0 | 0 | 0 | ||||||||||||
Income tax payments for the period | $ 26,462 | $ 24,491 | $ 13,627 |
Note 19 - Quarterly Financial_3
Note 19 - Quarterly Financial Information - Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest and loan fee income | $ 42,961 | $ 41,365 | $ 41,539 | $ 39,991 | $ 39,878 | $ 39,695 | $ 39,626 | $ 39,483 | $ 39,448 | $ 38,614 | $ 37,346 | $ 36,315 | $ 165,856 | $ 158,682 | $ 151,723 |
Net interest income | 42,480 | 40,899 | 41,104 | 39,549 | 39,427 | 39,240 | 39,139 | 38,989 | 38,934 | 38,087 | 36,887 | 35,856 | 164,032 | 156,794 | 149,764 |
Provision for loan losses | 0 | 0 | 0 | 4,300 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Noninterest income | 13,959 | 10,476 | 9,554 | 11,648 | 11,732 | 11,809 | 12,288 | 11,579 | 11,897 | 12,528 | 11,769 | 11,955 | 45,637 | 47,408 | 48,149 |
Noninterest expense | 24,545 | 24,603 | 24,754 | 24,664 | 24,209 | 24,033 | 25,561 | 25,183 | 25,787 | 29,366 | 25,741 | 26,022 | 98,566 | 98,986 | 106,916 |
Income before taxes and equity in undistributed income of subsidiaries | 31,894 | 26,772 | 25,904 | 22,233 | 26,950 | 27,016 | 25,866 | 25,385 | 25,044 | 21,249 | 22,915 | 21,789 | 106,803 | 105,216 | 90,997 |
Net income | $ 23,838 | $ 20,051 | $ 19,562 | $ 16,962 | $ 20,728 | $ 20,390 | $ 19,625 | $ 19,646 | $ 19,055 | $ 16,993 | $ 18,010 | $ 17,506 | $ 80,413 | $ 80,389 | $ 71,564 |
Basic earnings per common share (in dollars per share) | $ 0.89 | $ 0.74 | $ 0.72 | $ 0.63 | $ 0.77 | $ 0.76 | $ 0.73 | $ 0.73 | $ 0.71 | $ 0.64 | $ 0.68 | $ 0.66 | $ 2.98 | $ 2.98 | $ 2.69 |
Diluted earnings per common share (in dollars per share) | 0.89 | 0.74 | 0.72 | 0.63 | 0.77 | 0.75 | 0.73 | 0.73 | 0.71 | 0.63 | 0.67 | 0.66 | 2.98 | 2.98 | 2.67 |
Dividends paid per common share (in dollars per share) | 0.41 | 0.41 | 0.41 | 0.41 | 0.41 | 0.41 | 0.41 | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 1.64 | 1.63 | 1.60 |
Share price, common stock (in dollars per share) | 55.29 | 55.29 | |||||||||||||
Minimum [Member] | |||||||||||||||
Share price, common stock (in dollars per share) | 51.49 | 51.84 | 53.40 | 47.37 | 60.65 | 59.26 | 59.51 | 56.82 | 52.75 | 57.56 | 55.81 | 55.72 | 51.49 | 60.65 | 52.75 |
Maximum [Member] | |||||||||||||||
Share price, common stock (in dollars per share) | $ 59.70 | $ 63.58 | $ 64.86 | $ 68.01 | $ 68.58 | $ 64.56 | $ 64.82 | $ 64.48 | $ 63.20 | $ 64.52 | $ 60.68 | $ 62.52 | $ 59.70 | $ 68.58 | $ 63.20 |
Note 20 - Impact of COVID-19 (D
Note 20 - Impact of COVID-19 (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Financing Receivable, after Allowance for Credit Loss, Total | $ 1,232,389 | $ 1,107,180 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 3,900,751 | 3,041,860 |
Debt Securities, Available-for-sale, Total | $ 4,063,185 | $ 3,078,846 |
Corporate Debt Securities [Member] | Industrial and Energy Sectors [Member] | ||
Debt Securities, Available-for-Sale, Number of Issuers | 14 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 275,100 | |
Debt Securities, Available-for-sale, Total | 291,900 | |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Loan Deferrals | 33 | |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Loan Deferrals | 2,500 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Loan Deferrals | 7,800 | |
Paycheck Protection Program Loans [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, after Allowance for Credit Loss, Total | 187,000 | |
United States Small Business Administration [Member] | Paycheck Protection Program Loans [Member] | ||
Financing Receivable Loans Originated Amount | $ 249,000 |