Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 28, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000311094 | |
Entity Registrant Name | WESTAMERICA BANCORPORATION | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-09383 | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 94-2156203 | |
Entity Address, Address Line One | 1108 Fifth Avenue | |
Entity Address, City or Town | San Rafael | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94901 | |
City Area Code | 707 | |
Local Phone Number | 863-6000 | |
Title of 12(b) Security | Common Stock, no par value | |
Trading Symbol | WABC | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 26,866,108 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Assets: | ||
Cash and due from banks | $ 1,011,048 | $ 621,275 |
Debt securities available for sale | 4,602,706 | 4,063,185 |
Debt securities held to maturity, net of allowance for credit losses of $7 at September 30, 2021 and $9 at December 31, 2020 (Fair value of $364,741 at September 30, 2021 and $529,678 at December 31, 2020) | 356,106 | 515,589 |
Loans | 1,132,472 | 1,256,243 |
Allowance for credit losses on loans | (23,882) | (23,854) |
Loans, net of allowance for credit losses on loans | 1,108,590 | 1,232,389 |
Premises and equipment, net | 31,603 | 32,813 |
Identifiable intangibles, net | 900 | 1,104 |
Goodwill | 121,673 | 121,673 |
Other assets | 170,947 | 159,903 |
Total Assets | 7,403,573 | 6,747,931 |
Liabilities: | ||
Noninterest-bearing deposits | 2,988,329 | 2,725,177 |
Interest-bearing deposits | 3,300,632 | 2,962,802 |
Total deposits | 6,288,961 | 5,687,979 |
Short-term borrowed funds | 119,102 | 102,545 |
Other liabilities | 157,557 | 112,598 |
Total Liabilities | 6,565,620 | 5,903,122 |
Contingencies (Note 10) | ||
Shareholders' Equity: | ||
Common stock (no par value), authorized: 150,000 shares Issued and outstanding: 26,866 at September 30, 2021 and 26,807 at December 31, 2020 | 470,676 | 466,006 |
Deferred compensation | 35 | 35 |
Accumulated other comprehensive income | 71,284 | 114,412 |
Retained earnings | 295,958 | 264,356 |
Total Shareholders' Equity | 837,953 | 844,809 |
Total Liabilities and Shareholders' Equity | $ 7,403,573 | $ 6,747,931 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt securities held to maturity, allowance for credit losses | $ 7 | $ 9 |
Debt securities held to maturity, fair value | $ 364,741 | $ 529,678 |
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) | 26,866 | 26,807 |
Common stock, outstanding (in shares) | 26,866 | 26,807 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest and Loan Fee Income: | ||||
Loans | $ 14,789 | $ 15,291 | $ 44,434 | $ 44,378 |
Equity securities | 109 | 103 | 329 | 309 |
Debt securities available for sale | 26,452 | 22,652 | 77,822 | 66,396 |
Debt securities held to maturity | 2,091 | 3,235 | 7,051 | 10,759 |
Interest-bearing cash | 369 | 84 | 766 | 1,053 |
Total Interest and Loan Fee Income | 43,810 | 41,365 | 130,402 | 122,895 |
Interest Expense: | ||||
Deposits | 473 | 450 | 1,398 | 1,308 |
Short-term borrowed funds | 19 | 16 | 53 | 34 |
Other borrowed funds | 0 | 0 | 0 | 1 |
Total Interest Expense | 492 | 466 | 1,451 | 1,343 |
Net Interest and Loan Fee Income | 43,318 | 40,899 | 128,951 | 121,552 |
Provision for Credit Losses | 0 | 0 | 0 | 4,300 |
Net Interest and Loan Fee Income After Provision for Credit Losses | 43,318 | 40,899 | 128,951 | 117,252 |
Noninterest Income: | ||||
Securities gains | 0 | 0 | 34 | 71 |
Other noninterest income | 823 | 833 | 2,268 | 3,241 |
Total Noninterest Income | 11,282 | 10,476 | 32,503 | 31,678 |
Noninterest Expense: | ||||
Salaries and related benefits | 11,813 | 12,540 | 36,575 | 38,458 |
Occupancy and equipment | 4,759 | 5,014 | 14,447 | 14,737 |
Outsourced data processing services | 2,429 | 2,338 | 7,244 | 7,067 |
Professional fees | 724 | 669 | 2,496 | 1,701 |
Courier service | 534 | 500 | 1,605 | 1,499 |
Amortization of identifiable intangibles | 67 | 72 | 204 | 218 |
Other noninterest expense | 4,371 | 3,470 | 11,323 | 10,341 |
Total Noninterest Expense | 24,697 | 24,603 | 73,894 | 74,021 |
Income Before Income Taxes | 29,903 | 26,772 | 87,560 | 74,909 |
Provision for income taxes | 7,840 | 6,721 | 22,771 | 18,334 |
Net Income | $ 22,063 | $ 20,051 | $ 64,789 | $ 56,575 |
Average Common Shares Outstanding (in shares) | 26,866 | 26,930 | 26,851 | 26,977 |
Average Diluted Common Shares Outstanding (in shares) | 26,875 | 26,946 | 26,868 | 26,998 |
Per Common Share Data: | ||||
Basic earnings (in dollars per share) | $ 0.82 | $ 0.74 | $ 2.41 | $ 2.10 |
Diluted earnings (in dollars per share) | 0.82 | 0.74 | 2.41 | 2.10 |
Dividends paid (in dollars per share) | $ 0.41 | $ 0.41 | $ 1.23 | $ 1.23 |
Deposit Account [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | $ 3,578 | $ 3,298 | $ 10,117 | $ 10,697 |
Credit Card, Merchant Discount [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 3,159 | 2,860 | 8,998 | 7,495 |
Debit Card [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 1,740 | 1,611 | 5,132 | 4,538 |
Fiduciary and Trust [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 839 | 756 | 2,467 | 2,247 |
ATM Processing Fees [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 573 | 606 | 1,792 | 1,703 |
Financial Service, Other [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 475 | 454 | 1,435 | 1,380 |
Financial Services Commission [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | $ 95 | $ 58 | $ 260 | $ 306 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | $ 22,063 | $ 20,051 | $ 64,789 | $ 56,575 |
Other comprehensive income: | ||||
Changes in unrealized gains on debt securities available for sale | (22,200) | 14,042 | (61,196) | 110,200 |
Deferred tax benefits (expense) | 6,563 | (4,151) | 18,092 | (32,578) |
Reclassification of gains included in net income | 0 | 0 | (34) | (71) |
Deferred tax expense on gains included in net income | 0 | 0 | 10 | 21 |
Changes in net unrealized gains on debt securities available for sale, net of tax | (15,637) | 9,891 | (43,128) | 77,572 |
Total comprehensive income | $ 6,426 | $ 29,942 | $ 21,661 | $ 134,147 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]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 |
Dividends per share (in dollars per share) | $ 1.23 | |||||||||||
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 for the period | 56,575 | 56,575 | ||||||||||
Other comprehensive income (loss) | 77,572 | 77,572 | ||||||||||
Exercise of stock options (in shares) | 53 | |||||||||||
Exercise of stock options | $ 2,838 | 2,838 | ||||||||||
Stock based compensation | 1,500 | 1,500 | ||||||||||
Stock awarded to employees | 85 | 85 | ||||||||||
Dividends | (33,263) | (33,263) | ||||||||||
Restricted stock activity | $ 1,270 | (736) | ||||||||||
Retirement of common stock (in shares) | (228) | |||||||||||
Retirement of common stock | $ (3,952) | (7,782) | (11,734) | |||||||||
Stock awarded to employees (in shares) | 1 | |||||||||||
Balance (in shares) at Sep. 30, 2020 | 26,898 | |||||||||||
Balance at Sep. 30, 2020 | $ 467,201 | 35 | 103,623 | 254,717 | $ 825,576 | |||||||
Dividends per share (in dollars per share) | $ 0.41 | |||||||||||
Balance (in shares) at Jun. 30, 2020 | 26,933 | |||||||||||
Balance at Jun. 30, 2020 | $ 467,351 | 35 | 93,732 | 246,958 | $ 808,076 | |||||||
Net income for the period | 20,051 | 20,051 | ||||||||||
Other comprehensive income (loss) | 9,891 | 9,891 | ||||||||||
Stock based compensation | 450 | 450 | ||||||||||
Stock awarded to employees | $ 19 | 19 | ||||||||||
Dividends | (11,043) | (11,043) | ||||||||||
Retirement of common stock (in shares) | (35) | |||||||||||
Retirement of common stock | $ (619) | (1,249) | (1,868) | |||||||||
Stock awarded to employees (in shares) | 0 | |||||||||||
Balance (in shares) at Sep. 30, 2020 | 26,898 | |||||||||||
Balance at Sep. 30, 2020 | $ 467,201 | 35 | 103,623 | 254,717 | $ 825,576 | |||||||
Dividends per share (in dollars per share) | $ 1.23 | |||||||||||
Balance (in shares) at Dec. 31, 2020 | 26,807 | |||||||||||
Balance at Dec. 31, 2020 | $ 466,006 | 35 | 114,412 | 264,356 | $ 844,809 | |||||||
Net income for the period | 64,789 | 64,789 | ||||||||||
Other comprehensive income (loss) | (43,128) | (43,128) | ||||||||||
Exercise of stock options (in shares) | 53 | |||||||||||
Exercise of stock options | $ 3,017 | 3,017 | ||||||||||
Stock based compensation | 1,100 | 1,100 | ||||||||||
Stock awarded to employees | $ 93 | 93 | ||||||||||
Dividends | (33,021) | (33,021) | ||||||||||
Restricted stock activity (in shares) | 9 | |||||||||||
Restricted stock activity | $ 526 | 526 | ||||||||||
Retirement of common stock (in shares) | (4) | |||||||||||
Retirement of common stock | $ (66) | (166) | (232) | |||||||||
Balance (in shares) at Sep. 30, 2021 | 26,866 | |||||||||||
Balance at Sep. 30, 2021 | $ 470,676 | 35 | 71,284 | 295,958 | $ 837,953 | |||||||
Dividends per share (in dollars per share) | $ 0.41 | |||||||||||
Balance (in shares) at Jun. 30, 2021 | 26,865 | |||||||||||
Balance at Jun. 30, 2021 | $ 470,330 | 35 | 86,921 | 284,910 | $ 842,196 | |||||||
Net income for the period | 22,063 | 22,063 | ||||||||||
Other comprehensive income (loss) | (15,637) | (15,637) | ||||||||||
Exercise of stock options (in shares) | 0 | |||||||||||
Exercise of stock options | $ 0 | 0 | ||||||||||
Stock based compensation | 324 | 324 | ||||||||||
Stock awarded to employees | $ 22 | 22 | ||||||||||
Dividends | (11,015) | (11,015) | ||||||||||
Balance (in shares) at Sep. 30, 2021 | 26,866 | |||||||||||
Balance at Sep. 30, 2021 | $ 470,676 | $ 35 | $ 71,284 | $ 295,958 | $ 837,953 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Dividends per share (in dollars per share) | $ 0.41 | $ 0.41 | $ 1.23 | $ 1.23 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating Activities: | ||
Net income | $ 64,789 | $ 56,575 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 11,748 | 18,482 |
Provision for Credit Losses | 0 | 4,300 |
Net amortization of deferred loan fees | (4,671) | (2,803) |
Stock option compensation expense | 1,100 | 1,500 |
Securities gains | (34) | (71) |
Net changes in: | ||
Interest income receivable | (282) | (1,982) |
Other assets | (13,255) | (4,397) |
Income taxes payable | 4,580 | (520) |
Net deferred tax asset | (3,109) | 325 |
Interest expense payable | (8) | 33 |
Other liabilities | 10,272 | 24,798 |
Net Cash Provided by Operating Activities | 71,130 | 96,240 |
Investing Activities: | ||
Net repayments (disbursements) of loans | 128,791 | (181,894) |
Purchases of debt securities available for sale | (1,593,799) | (1,612,633) |
Proceeds from sale/maturity/calls of debt securities available for sale | 1,040,179 | 807,064 |
Proceeds from maturity/calls of debt securities held to maturity | 157,221 | 156,993 |
Purchases of premises and equipment | (1,052) | (1,682) |
Net Cash Used in Investing Activities | (268,660) | (832,152) |
Financing Activities: | ||
Net change in deposits | 600,982 | 726,569 |
Net change in short-term borrowings | 16,557 | 77,045 |
Exercise of stock options | 3,017 | 2,838 |
Retirement of common stock | (232) | (11,734) |
Common stock dividends paid | (33,021) | (33,263) |
Net Cash Provided by Financing Activities | 587,303 | 761,455 |
Net Change In Cash and Due from Banks | 389,773 | 25,543 |
Cash and Due from Banks at Beginning of Period | 621,275 | 373,421 |
Cash and Due from Banks at End of Period | 1,011,048 | 398,964 |
Supplemental disclosure of non cash activities: | ||
Right-of-use assets acquired in exchange for operating lease liabilities | 4,972 | 6,457 |
Securities purchases pending settlement | 81,618 | 0 |
Supplemental disclosure of cash flow activities: | ||
Cash paid for amounts included in operating lease liabilities | 4,791 | 4,905 |
Interest paid for the period | 1,459 | 1,310 |
Income tax payments for the period | $ 21,300 | $ 18,708 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1: The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission and follow general practices within the banking industry. The results of operations reflect interim adjustments, all of which are of a normal recurring nature and which, in the opinion of Management, are necessary for a fair presentation of the results for the interim periods presented. The interim results for the three nine September 30, 2021 not 10 December 31, 2020. |
Note 2 - Accounting Policies
Note 2 - Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2: The most significant accounting policies followed by the Company are presented in Note 1 10 December 31, 2020. 20 19” 1A 10 December 31, 2020 may 10 Application of accounting principles requires the Company to make certain estimates, assumptions, and judgments that affect the amounts reported in the financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; accordingly, as this information changes, the financial statements could reflect different estimates, assumptions, and judgments. Certain accounting policies inherently have a greater reliance on the use of estimates, assumptions and judgments and as such have a greater possibility of producing results that could be materially different than originally reported. Estimates, assumptions and judgments are necessary when assets and liabilities are required to be recorded at fair value, when a decline in the value of an asset not third Debt Securities. Debt securities consist of U.S. Treasury, 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 losses at least quarterly. For available for sale debt securities, a decline in fair value due to credit losses 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 none 120 A troubled debt restructuring (“TDR”) occurs when the Company, for reasons related to a borrower’s financial difficulties, grants a concession to the borrower it would not may not 1 2 not 30 December 31, 2019; 3 March 1, 2020, 60 19 December 31, 2020. 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 loss. 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 Recently Adopted Accounting Standards In the nine September 30, 2021, FASB ASU 2019 12 Income Taxes (Topic 740 December 2019. 740 December 15, 2020, January 1, 2021 not Recently Issued Accounting Standards FASB ASU 2020 04 Reference Rate Reform (Topic 848 March 2020. no not 2020 04 2020 04 March 12, 2020 December 31, 2022. may 2020 04 January 1, 2020, March 12, 2020, not |
Note 3 - Investment Securities
Note 3 - Investment Securities | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3: Investment Securities Effective January 1, 2020, FASB ASU 2016 13, Financial Instruments Credit Losses (Topic 326 fourth December 31, 2020, third September 30, 2021, 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 $7 September 30, 2021 $9 December 31, 2020, At September 30, 2021 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale Agency residential mortgage-backed securities ("MBS") $ 441,863 $ 16,190 $ - $ 458,053 Securities of U.S. Government entities 128 - - 128 Obligations of states and political subdivisions 92,623 3,984 (4 ) 96,603 Corporate securities 2,588,376 86,488 (6,475 ) 2,668,389 Collateralized loan obligations 1,378,512 1,780 (759 ) 1,379,533 Total debt securities available for sale 4,501,502 108,442 (7,238 ) 4,602,706 Debt securities held to maturity Agency residential MBS 165,922 4,786 (17 ) 170,691 Non-agency residential MBS 1,033 12 (12 ) 1,033 Obligations of states and political subdivisions 189,158 3,866 - 193,024 Total debt securities held to maturity 356,113 8,664 (29 ) 364,748 Total $ 4,857,615 $ 117,106 $ (7,267 ) $ 4,967,454 At December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale Agency residential 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 - 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 The amortized cost and fair value of debt securities by contractual maturity are shown in the following table s at the dates indicated: At September 30, 2021 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 $ 241,684 $ 244,492 $ 23,830 $ 23,966 Over 1 to 5 years 780,844 822,330 126,644 129,311 Over 5 to 10 years 2,240,994 2,283,056 38,684 39,747 Over 10 years 796,117 794,775 - - Subtotal 4,059,639 4,144,653 189,158 193,024 MBS 441,863 458,053 166,955 171,724 Total $ 4,501,502 $ 4,602,706 $ 356,113 $ 364,748 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 Expected maturities of mortgage-related securities can differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. In addition, such factors as prepayments and interest rates may September 30, 2021 December 31, 2020, An analysis of the gross unrealized losses of the debt securities available for sale portfolio follows: Debt Securities Available for Sale At September 30, 2021 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 - $ - $ - 2 $ 92 $ - 2 $ 92 $ - Securities of U.S. - - - 1 128 - 1 128 - Obligations of states 2 1,440 (3 ) 2 675 (1 ) 4 2,115 (4 ) Corporate securities 37 436,490 (6,475 ) - - - 37 436,490 (6,475 ) Collateralized loan 22 203,700 (606 ) 6 35,839 (153 ) 28 239,539 (759 ) Total 61 $ 641,630 $ (7,084 ) 11 $ 36,734 $ (154 ) 72 $ 678,364 $ (7,238 ) An analysis of gross unrecognized losses of the debt securities held to maturity portfolio follows: Debt Securities Held to Maturity At September 30, 2021 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 $ 112 $ - 3 $ 618 $ (17 ) 6 $ 730 $ (17 ) Non-agency residential 1 596 (12 ) - - - 1 596 (12 ) Total 4 $ 708 $ (12 ) 3 $ 618 $ (17 ) 7 $ 1,326 $ (29 ) Based upon the most recent evaluation, the unrealized losses on the Company’s debt securities available for sale were most likely caused by market conditions for these types of investments, particularly changes in risk-free interest rates and/or market bid-ask spreads. The Company does not not not not September 30, 2021. 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 issuers’ financial condition deteriorates, or the liquidity for debt securities declines. As a result, significant credit losses on debt securities available for sale may As of September 30, 2021 December 31, 2020, 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 ) 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, collateral levels, 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 were investment grade rated by a major rating agency as of September 30, 2021. The following table presents the activity in the allowance for credit losses for debt securities held to maturity: For the Nine Months Ended September 30, 2021 2020 (In thousands) Allowance for credit losses: Balance, end of prior period $ 9 $ - Impact of adopting ASU 2016-13 - 16 Beginning balance 9 16 Reversal of provision (2 ) - Chargeoffs - - Recoveries - - Total ending balance $ 7 $ 16 Agency mortgage-backed securities were assigned no The following table summarizes the amortized cost of debt securities held to maturity at September 30, 2021, Credit Risk Profile by Credit Rating At September 30, 2021 AAA/AA/A BB/B Not Rated Total (In thousands) Agency residential MBS $ 165,922 $ - $ - $ 165,922 Non-agency residential MBS 176 607 250 1,033 Obligations of states and political subdivisions 185,168 - 3,990 189,158 Total $ 351,266 $ 607 $ 4,240 $ 356,113 There were no debt securities held to maturity on nonaccrual status or past due 30 September 30, 2021. The following table provides information about the amount of interest income earned on investment securities which is fully taxable and which is exempt from federal income tax: For the Three Months For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Taxable $ 26,674 $ 23,079 $ 78,564 $ 67,963 Tax-exempt from federal income tax 1,978 2,911 6,638 9,501 Total interest income from investment securities $ 28,652 $ 25,990 $ 85,202 $ 77,464 |
Note 4 - Loans, Allowance for C
Note 4 - Loans, Allowance for Credit Losses and Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4: A summary of the major categories of loans outstanding is shown in the following tables at the dates indicated. At September 30, At December 31, 2021 2020 (In thousands) Commercial: Paycheck Protection Program ("PPP") loans $ 102,977 $ 186,945 Other 186,752 207,861 Total Commercial 289,729 394,806 Commercial Real Estate 540,541 564,300 Construction 50 129 Residential Real Estate 18,540 23,471 Consumer Installment & Other 283,612 273,537 Total $ 1,132,472 $ 1,256,243 PPP loans are 100% not not Allowance for Credit Losses For the Three Months Ended September 30, 2021 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Total (In thousands) Allowance for credit losses: Balance at beginning of period $ 6,858 $ 6,752 $ 5 $ 57 $ 10,065 $ 23,737 Provision (reversal) 10 (754 ) (3 ) (7 ) 756 2 Chargeoffs (56 ) - - - (916 ) (972 ) Recoveries 80 705 - - 330 1,115 Total allowance for credit losses $ 6,892 $ 6,703 $ 2 $ 50 $ 10,235 $ 23,882 Allowance for Credit Losses For the Nine Months Ended September 30, 2021 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Total (In thousands) Allowance for credit losses: Balance at beginning of period $ 9,205 $ 5,660 $ 6 $ 47 $ 8,936 $ 23,854 (Reversal) provision (2,425 ) 314 (4 ) 3 2,114 2 Chargeoffs (56 ) - - - (2,176 ) (2,232 ) Recoveries 168 729 - - 1,361 2,258 Total allowance for credit losses $ 6,892 $ 6,703 $ 2 $ 50 $ 10,235 $ 23,882 Allowance for Credit Losses For the Three Months Ended September 30, 2020 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Total (In thousands) Allowance for credit losses: Balance at beginning of period $ 8,072 $ 4,623 $ 7 $ 57 $ 11,770 $ 24,529 Provision (reversal) 867 1,030 - (5 ) (1,892 ) - Chargeoffs - - - - (872 ) (872 ) Recoveries 46 12 - - 427 485 Total allowance for credit losses $ 8,985 $ 5,665 $ 7 $ 52 $ 9,433 $ 24,142 Allowance for Credit Losses For the Nine Months Ended September 30, 2020 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for credit losses: Balance at beginning of period, prior to adoption of ASU 2016-13 $ 4,959 $ 4,064 $ 109 $ 206 $ 6,445 $ 3,701 $ 19,484 Impact of adopting ASU 2016-13 3,385 618 (31 ) (132 ) 1,878 (3,701 ) 2,017 Adjusted beginning balance 8,344 4,682 78 74 8,323 - 21,501 Provision (reversal) 537 946 (71 ) (22 ) 2,910 - 4,300 Chargeoffs (178 ) - - - (3,071 ) - (3,249 ) Recoveries 282 37 - - 1,271 - 1,590 Total allowance for credit losses $ 8,985 $ 5,665 $ 7 $ 52 $ 9,433 $ - $ 24,142 The Company’s customers are small businesses, professionals and consumers. Given the scale of these borrowers, corporate credit rating agencies do not The following summarizes the credit risk profile by internally assigned grade: Credit Risk Profile by Internally Assigned Grade At September 30, 2021 Commercial Commercial Construction Residential Consumer Total (In thousands) Grade: Pass $ 289,225 $ 527,191 $ 50 $ 17,259 $ 280,850 $ 1,114,575 Substandard 504 13,350 - 1,281 1,362 16,497 Doubtful - - - - 809 809 Loss - - - - 591 591 Total $ 289,729 $ 540,541 $ 50 $ 18,540 $ 283,612 $ 1,132,472 Credit Risk Profile by Internally Assigned Grade At December 31, 2020 Commercial Commercial Construction Residential Consumer 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 The following tables summarize loans by delinquency and nonaccrual status: Summary of Loans by Delinquency and Nonaccrual Status At September 30, 2021 Current and 30-59 Days 60-89 Days Past Due 90 Nonaccrual Total Loans (In thousands) Commercial $ 289,529 $ - $ - $ - $ 200 $ 289,729 Commercial real estate 539,749 - 244 - 548 540,541 Construction 50 - - - - 50 Residential real estate 18,103 294 - - 143 18,540 Consumer installment and other 280,059 1,828 842 537 346 283,612 Total $ 1,127,490 $ 2,122 $ 1,086 $ 537 $ 1,237 $ 1,132,472 Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2020 Current and Accruing 30-59 Days 60-89 Days Past Due 90 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 There was no allowance for credit losses allocated to loans on nonaccrual status as of September 30, 2021 December 31, 2020. September 30, 2021 December 31, 2020. The following tables provide information on troubled debt restructurings (TDRs): Troubled Debt Restructurings At September 30, 2021 Period-End Individual Number of Pre-Modification Period-End Credit Loss Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial real estate 2 $ 2,785 $ 1,868 $ - Residential real estate 1 241 173 - Total 3 $ 3,026 $ 2,041 $ - 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 $ - During the three nine September 30, 2021 September 30, 2020, not 4013 19 three nine September 30, 2021, 4013 90 September 30, 2021, not three nine September 30, 2021 September 30, 2020. three nine September 30, 2021 September 30, 2020, 12 90 TDRs of $2,041 thousand included no loans on nonaccrual status at September 30, 2021. December 31, 2020; A loan is considered collateral dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following loans were considered collateral dependent at September 30, 2021: no September 30, 2021. December 31, 2020: no December 31, 2020. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Commercial loans by grade Pass $ 39,166 $ 5,312 $ 10,392 $ 32,780 $ 47,492 $ 120,340 $ 255,482 $ 33,743 $ 289,225 Substandard 33 - - - - 87 120 384 504 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 39,199 $ 5,312 $ 10,392 $ 32,780 $ 47,492 $ 120,427 $ 255,602 $ 34,127 $ 289,729 At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Commercial real estate loans by grade Pass $ 128,404 $ 89,190 $ 78,940 $ 79,412 $ 84,384 $ 66,861 $ 527,191 $ - $ 527,191 Substandard 10,244 256 - 2,023 827 - 13,350 - 13,350 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 138,648 $ 89,446 $ 78,940 $ 81,435 $ 85,211 $ 66,861 $ 540,541 $ - $ 540,541 At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Construction loans by grade Pass $ - $ - $ - $ - $ - $ - $ - $ 50 $ 50 Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ - $ - $ - $ - $ - $ - $ - $ 50 $ 50 At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Residential Real Estate loans by grade Pass $ 17,259 $ - $ - $ - $ - $ - $ 17,259 $ - $ 17,259 Substandard 1,281 - - - - - 1,281 - 1,281 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 18,540 $ - $ - $ - $ - $ - $ 18,540 $ - $ 18,540 The Company considers the delinquency and nonaccrual status of the consumer loan portfolio and its impact on the allowance for credit losses. The following table presents the amortized cost in consumer installment and other loans based on delinquency and nonaccrual status: At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Consumer installment and other loans by delinquency and nonaccrual status Current $ 10,707 $ 12,593 $ 31,160 $ 43,128 $ 65,362 $ 94,335 $ 257,285 $ 22,774 $ 280,059 30-59 days past due 134 80 325 250 609 422 1,820 8 1,828 60-89 days past due 29 38 46 244 172 310 839 3 842 Past due 90 days or more 21 21 12 182 143 158 537 - 537 Nonaccrual - - - - - - - 346 346 Total $ 10,891 $ 12,732 $ 31,543 $ 43,804 $ 66,286 $ 95,225 $ 260,481 $ 23,131 $ 283,612 There were no loans held for sale at September 30, 2021, December 31, 2020. The Company held no other real estate owned (OREO) at September 30, 2021 December 31, 2020. September 30, 2021 December 31, 2020. |
Note 5 - Concentration of Credi
Note 5 - Concentration of Credit Risk | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 5: Under the California Financial Code, credit extended to any one one not not not September 30, 2021, not one September 30, 2021, 4, September 30, 2021 December 31, 2020, no no September 30, 2021, |
Note 6 - Other Assets and Other
Note 6 - Other Assets and Other Liabilities | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Other Assets and Liabilities Disclosure [Text Block] | Note 6: Other assets consisted of the following: At September 30, At December 31, 2021 2020 (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 62,421 60,444 Right-of-use asset 19,285 18,832 Limited partnership investments 27,997 18,335 Interest receivable 33,304 33,022 Prepaid assets 3,526 4,572 Other assets 10,187 10,471 Total other assets $ 170,947 $ 159,903 ( 1 six The Company owns 211 thousand shares of Visa Inc. class B common stock which have transfer restrictions; the carrying value is $-0- thousand. On September 30, 2019, September 27, 2019 September 27, 2019. September 30, 2021, third 2021. The Company invests in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for low-income housing tax credits. At September 30, 2021, December 31, 2020, September 30, 2021, 2021, 2022, 2023, 2024, 2025, 2026, 2027 The amounts recognized in net income for these investments include: For the Three Months Ended For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Investment loss included in pre-tax income $ 620 $ 640 $ 1,820 $ 1,840 Tax credits recognized in provision for income taxes 200 225 650 675 [The remainder of this page intentionally left blank] Other liabilities consisted of the following: At September 30, At December 31, 2021 2020 (In thousands) Net deferred tax liability $ 4,567 $ 25,778 Operating lease liability 19,285 18,832 Securities purchases pending settlement 81,618 29,000 Other liabilities 52,087 38,988 Total other liabilities $ 157,557 $ 112,598 The net deferred tax liability at September 30, 2021 December 31, 2020 The Company has entered into leases for most branch locations and certain other offices that were classified as operating leases primarily with original terms of five one five not not not September 30, 2021. As of September 30, 2021, September 30, 2021. not September 30, 2021. Total lease costs during the three nine September 30, 2021, three nine September 30, 2020, not nine September 30, 2021 September 30, 2020. The following table summarizes the remaining lease payments of operating lease liabilities: Minimum At September 30, 2021 (In thousands) 2021 $ 1,525 2022 5,660 2023 4,952 2024 3,364 2025 2,173 Thereafter 2,251 Total minimum lease payments 19,925 Less: discount (640 ) Present value of lease liability $ 19,285 [The remainder of this page intentionally left blank] |
Note 7 - Goodwill and Identifia
Note 7 - Goodwill and Identifiable Intangible Assets | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7: The Company has recorded goodwill and other identifiable intangibles associated with purchase business combinations. Goodwill is not not three nine September 30, 2021 December 31, 2020. three nine September 30, 2021 December 31, 2020 The carrying values of goodwill were: At September 30, 2021 At December 31, 2020 (In thousands) Goodwill $ 121,673 $ 121,673 The gross carrying amount of identifiable intangible assets and accumulated amortization was: At September 30, 2021 At December 31, 2020 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core deposit intangibles $ 56,808 $ (55,908 ) $ 56,808 $ (55,704 ) As of September 30, 2021, 2025, Total Core Deposit Intangibles (In thousands) For the nine months ended September 30, 2021 (actual) $ 204 Estimate for the remainder of 2021 65 Estimate for year ending December 31, 2022 252 2023 236 2024 222 2025 125 |
Note 8 - Deposits and Borrowed
Note 8 - Deposits and Borrowed Funds | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Deposits and Borrowed Funds [Text Block] | Note 8: The following table provides additional detail regarding deposits. Deposits At September 30, At December 31, 2021 2020 (In thousands) Noninterest-bearing $ 2,988,329 $ 2,725,177 Interest-bearing: Transaction 1,257,460 1,102,601 Savings 1,894,290 1,703,812 Time deposits less than $100 thousand 75,776 79,825 Time deposits $100 thousand through $250 thousand 48,550 49,323 Time deposits more than $250 thousand 24,556 27,241 Total deposits $ 6,288,961 $ 5,687,979 Demand deposit overdrafts of $870 thousand and $682 thousand were included as loan balances at September 30, 2021 December 31, 2020, $100 three nine September 30, 2021, three nine September 30, 2020, The following table provides additional detail regarding short-term borrowed funds. Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At September 30, At December 31, 2021 2020 Repurchase agreements: (In thousands) Collateral securing borrowings: Agency residential MBS $ 46,984 $ 67,019 Corporate securities 185,493 188,195 Total collateral carrying value $ 232,477 $ 255,214 Total short-term borrowed funds $ 119,102 $ 102,545 |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 9: Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Debt securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may In accordance with the Fair Value Measurement and Disclosure topic of the FASB Accounting Standards Codification, the Company bases its fair values on the price that would be received to sell an asset or paid to transfer a liability in the principal market or most advantageous market for an asset or liability in an orderly transaction between market participants on the measurement date under current market conditions. A fair value measurement reflects all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance. The Company groups its assets and liabilities measured at fair value into a three Level 1 1 Level 2 not 2 Level 3 not The Company relies on independent vendor pricing services to measure fair value for equity securities, debt securities available for sale and debt securities held to maturity. The Company employs three may not The Company regularly reviews the valuation techniques and assumptions used by its vendors and determines which valuation techniques are utilized based on observable market inputs for the type of securities being measured. The Company uses the information to determine the placement in the fair value hierarchy as level 1, 2 3. Assets Recorded at Fair Value on a Recurring Basis The tables below present assets measured at fair value on a recurring basis on the dates indicated. At September 30, 2021 Fair Value Quoted Prices Significant Significant (1) (In thousands) Debt securities available for sale Agency residential mortgage-backed securities (MBS) $ 458,053 $ - $ 458,053 $ - Securities of U.S. Government entities 128 - 128 - Obligations of states and political subdivisions 96,603 - 96,603 - Corporate securities 2,668,389 - 2,668,389 - Collateralized loan obligations 1,379,533 - 1,379,533 - Total debt securities available for sale $ 4,602,706 $ - $ 4,602,706 $ - ( 1 no 3 nine September 30, 2021. [The remainder of this page intentionally left blank] At December 31, 2020 Fair Value Quoted Prices Significant Significant (1) (In thousands) Debt securities available for sale Agency residential 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 no 3 December 31, 2020. Assets Recorded at Fair Value on a Nonrecurring Basis The Company may September 30, 2021 December 31, 2020, For the Nine Months Ended At September 30, 2021 September 30, 2021 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Loans: Commercial real estate $ 290 $ - $ - $ 290 $ - Residential real estate 173 - - 173 - Total assets measured at fair value on a nonrecurring basis $ 463 $ - $ - $ 463 $ - For the Year Ended At December 31, 2020 December 31, 2020 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) 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 $ - Level 3 third not not [The remainder of this page intentionally left blank] Disclosures about Fair Value of Financial Instruments The tables below are a summary of fair value estimates for financial instruments and the level of the fair value hierarchy within which the fair value measurements are categorized, excluding financial instruments recorded at fair value on a recurring basis. The values assigned do not may not may The Company has not not not not At September 30, 2021 Carrying Estimated Fair Quoted Prices Significant Significant Financial Assets: (In thousands) Cash and due from banks $ 1,011,048 $ 1,011,048 $ 1,011,048 $ - $ - Debt securities held to maturity 356,106 364,741 - 364,741 - Loans 1,108,590 1,128,250 - - 1,128,250 Financial Liabilities: Deposits $ 6,288,961 $ 6,288,843 $ - $ 6,140,079 $ 148,764 Short-term borrowed funds 119,102 119,102 - 119,102 - At December 31, 2020 Carrying Estimated Fair Quoted Prices Significant Significant 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 - The majority of the Company’s standby letters of credit and other commitments to extend credit carry current market interest rates if converted to loans. No |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10: Loan commitments are agreements to lend to a customer provided there is no not September 30, 2021. not September 30, 2021 December 31, 2020. September 30, 2021 December 31, 2020. September 30, 2021 December 31, 2020. 3 rd September 30, 2021 December 31, 2020. September 30, 2021, not December 31, 2020. The Company determined that it will be obligated to provide refunds of revenue recognized in years prior to 2018 2017; second 2019, three nine September 30, 2021, December 31, 2020 September 30, 2021 Due to the nature of its business, the Company is subject to various threatened or filed legal cases. Based on the advice of legal counsel, the Company does not |
Note 11 - Earnings Per Common S
Note 11 - Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 11: The table below shows earnings per common share and diluted earnings per common share. Basic earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period plus the impact of common stock equivalents. For the Three Months For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 22,063 $ 20,051 $ 64,789 $ 56,575 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 26,866 26,930 26,851 26,977 Basic earnings per common share $ 0.82 $ 0.74 $ 2.41 $ 2.10 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,866 26,930 26,851 26,977 Add common stock equivalents for options 9 16 17 21 Weighted average number of common shares outstanding - diluted (denominator) 26,875 26,946 26,868 26,998 Diluted earnings per common share $ 0.82 $ 0.74 $ 2.41 $ 2.10 For the three nine September 30, 2021, not For the three nine September 30, 2020, not [The remainder of this page intentionally left blank] |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Marketable Securities, Policy [Policy Text Block] | Debt Securities. Debt securities consist of U.S. Treasury, 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 losses at least quarterly. For available for sale debt securities, a decline in fair value due to credit losses 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. |
Equity Securities without Readily Determinable Fair Value [Policy Text Block] | Nonmarketable Equity Securities. Nonmarketable equity securities include securities that are not |
Financing Receivable [Policy Text Block] | Loans. Loans are stated at the principal amount outstanding, net of unearned discount and unamortized deferred fees and costs. Interest is accrued daily on the outstanding principal balances and included in other assets. Loans which are more than 90 none 120 A troubled debt restructuring (“TDR”) occurs when the Company, for reasons related to a borrower’s financial difficulties, grants a concession to the borrower it would not may not 1 2 not 30 December 31, 2019; 3 March 1, 2020, 60 19 December 31, 2020. 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 loss. 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 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In the nine September 30, 2021, FASB ASU 2019 12 Income Taxes (Topic 740 December 2019. 740 December 15, 2020, January 1, 2021 not Recently Issued Accounting Standards FASB ASU 2020 04 Reference Rate Reform (Topic 848 March 2020. no not 2020 04 2020 04 March 12, 2020 December 31, 2022. may 2020 04 January 1, 2020, March 12, 2020, not |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Debt Securities, Available-for-sale and Held-to-maturity [Table Text Block] | At September 30, 2021 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale Agency residential mortgage-backed securities ("MBS") $ 441,863 $ 16,190 $ - $ 458,053 Securities of U.S. Government entities 128 - - 128 Obligations of states and political subdivisions 92,623 3,984 (4 ) 96,603 Corporate securities 2,588,376 86,488 (6,475 ) 2,668,389 Collateralized loan obligations 1,378,512 1,780 (759 ) 1,379,533 Total debt securities available for sale 4,501,502 108,442 (7,238 ) 4,602,706 Debt securities held to maturity Agency residential MBS 165,922 4,786 (17 ) 170,691 Non-agency residential MBS 1,033 12 (12 ) 1,033 Obligations of states and political subdivisions 189,158 3,866 - 193,024 Total debt securities held to maturity 356,113 8,664 (29 ) 364,748 Total $ 4,857,615 $ 117,106 $ (7,267 ) $ 4,967,454 At December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale Agency residential 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 - 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 |
Investments Classified by Contractual Maturity Date [Table Text Block] | At September 30, 2021 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 $ 241,684 $ 244,492 $ 23,830 $ 23,966 Over 1 to 5 years 780,844 822,330 126,644 129,311 Over 5 to 10 years 2,240,994 2,283,056 38,684 39,747 Over 10 years 796,117 794,775 - - Subtotal 4,059,639 4,144,653 189,158 193,024 MBS 441,863 458,053 166,955 171,724 Total $ 4,501,502 $ 4,602,706 $ 356,113 $ 364,748 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 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Debt Securities Available for Sale At September 30, 2021 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 - $ - $ - 2 $ 92 $ - 2 $ 92 $ - Securities of U.S. - - - 1 128 - 1 128 - Obligations of states 2 1,440 (3 ) 2 675 (1 ) 4 2,115 (4 ) Corporate securities 37 436,490 (6,475 ) - - - 37 436,490 (6,475 ) Collateralized loan 22 203,700 (606 ) 6 35,839 (153 ) 28 239,539 (759 ) Total 61 $ 641,630 $ (7,084 ) 11 $ 36,734 $ (154 ) 72 $ 678,364 $ (7,238 ) Debt Securities Held to Maturity At September 30, 2021 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 $ 112 $ - 3 $ 618 $ (17 ) 6 $ 730 $ (17 ) Non-agency residential 1 596 (12 ) - - - 1 596 (12 ) Total 4 $ 708 $ (12 ) 3 $ 618 $ (17 ) 7 $ 1,326 $ (29 ) 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, Held-to-maturity, Allowance for Credit Loss [Table Text Block] | For the Nine Months Ended September 30, 2021 2020 (In thousands) Allowance for credit losses: Balance, end of prior period $ 9 $ - Impact of adopting ASU 2016-13 - 16 Beginning balance 9 16 Reversal of provision (2 ) - Chargeoffs - - Recoveries - - Total ending balance $ 7 $ 16 |
Debt Securities, Held-to-maturity, Credit Quality Indicator [Table Text Block] | Credit Risk Profile by Credit Rating At September 30, 2021 AAA/AA/A BB/B Not Rated Total (In thousands) Agency residential MBS $ 165,922 $ - $ - $ 165,922 Non-agency residential MBS 176 607 250 1,033 Obligations of states and political subdivisions 185,168 - 3,990 189,158 Total $ 351,266 $ 607 $ 4,240 $ 356,113 |
Interest Income from Investments [Table Text Block] | For the Three Months For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Taxable $ 26,674 $ 23,079 $ 78,564 $ 67,963 Tax-exempt from federal income tax 1,978 2,911 6,638 9,501 Total interest income from investment securities $ 28,652 $ 25,990 $ 85,202 $ 77,464 |
Note 4 - Loans, Allowance for_2
Note 4 - Loans, Allowance for Credit Losses and Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Loans Receivable [Table Text Block] | At September 30, At December 31, 2021 2020 (In thousands) Commercial: Paycheck Protection Program ("PPP") loans $ 102,977 $ 186,945 Other 186,752 207,861 Total Commercial 289,729 394,806 Commercial Real Estate 540,541 564,300 Construction 50 129 Residential Real Estate 18,540 23,471 Consumer Installment & Other 283,612 273,537 Total $ 1,132,472 $ 1,256,243 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Allowance for Credit Losses For the Three Months Ended September 30, 2021 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Total (In thousands) Allowance for credit losses: Balance at beginning of period $ 6,858 $ 6,752 $ 5 $ 57 $ 10,065 $ 23,737 Provision (reversal) 10 (754 ) (3 ) (7 ) 756 2 Chargeoffs (56 ) - - - (916 ) (972 ) Recoveries 80 705 - - 330 1,115 Total allowance for credit losses $ 6,892 $ 6,703 $ 2 $ 50 $ 10,235 $ 23,882 Allowance for Credit Losses For the Nine Months Ended September 30, 2021 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Total (In thousands) Allowance for credit losses: Balance at beginning of period $ 9,205 $ 5,660 $ 6 $ 47 $ 8,936 $ 23,854 (Reversal) provision (2,425 ) 314 (4 ) 3 2,114 2 Chargeoffs (56 ) - - - (2,176 ) (2,232 ) Recoveries 168 729 - - 1,361 2,258 Total allowance for credit losses $ 6,892 $ 6,703 $ 2 $ 50 $ 10,235 $ 23,882 Allowance for Credit Losses For the Three Months Ended September 30, 2020 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Total (In thousands) Allowance for credit losses: Balance at beginning of period $ 8,072 $ 4,623 $ 7 $ 57 $ 11,770 $ 24,529 Provision (reversal) 867 1,030 - (5 ) (1,892 ) - Chargeoffs - - - - (872 ) (872 ) Recoveries 46 12 - - 427 485 Total allowance for credit losses $ 8,985 $ 5,665 $ 7 $ 52 $ 9,433 $ 24,142 Allowance for Credit Losses For the Nine Months Ended September 30, 2020 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for credit losses: Balance at beginning of period, prior to adoption of ASU 2016-13 $ 4,959 $ 4,064 $ 109 $ 206 $ 6,445 $ 3,701 $ 19,484 Impact of adopting ASU 2016-13 3,385 618 (31 ) (132 ) 1,878 (3,701 ) 2,017 Adjusted beginning balance 8,344 4,682 78 74 8,323 - 21,501 Provision (reversal) 537 946 (71 ) (22 ) 2,910 - 4,300 Chargeoffs (178 ) - - - (3,071 ) - (3,249 ) Recoveries 282 37 - - 1,271 - 1,590 Total allowance for credit losses $ 8,985 $ 5,665 $ 7 $ 52 $ 9,433 $ - $ 24,142 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Risk Profile by Internally Assigned Grade At September 30, 2021 Commercial Commercial Construction Residential Consumer Total (In thousands) Grade: Pass $ 289,225 $ 527,191 $ 50 $ 17,259 $ 280,850 $ 1,114,575 Substandard 504 13,350 - 1,281 1,362 16,497 Doubtful - - - - 809 809 Loss - - - - 591 591 Total $ 289,729 $ 540,541 $ 50 $ 18,540 $ 283,612 $ 1,132,472 Credit Risk Profile by Internally Assigned Grade At December 31, 2020 Commercial Commercial Construction Residential Consumer 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 |
Financing Receivable, Past Due [Table Text Block] | Summary of Loans by Delinquency and Nonaccrual Status At September 30, 2021 Current and 30-59 Days 60-89 Days Past Due 90 Nonaccrual Total Loans (In thousands) Commercial $ 289,529 $ - $ - $ - $ 200 $ 289,729 Commercial real estate 539,749 - 244 - 548 540,541 Construction 50 - - - - 50 Residential real estate 18,103 294 - - 143 18,540 Consumer installment and other 280,059 1,828 842 537 346 283,612 Total $ 1,127,490 $ 2,122 $ 1,086 $ 537 $ 1,237 $ 1,132,472 Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2020 Current and Accruing 30-59 Days 60-89 Days Past Due 90 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 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Troubled Debt Restructurings At September 30, 2021 Period-End Individual Number of Pre-Modification Period-End Credit Loss Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial real estate 2 $ 2,785 $ 1,868 $ - Residential real estate 1 241 173 - Total 3 $ 3,026 $ 2,041 $ - 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 $ - |
Financing Receivable, Loans by Risk Category [Table Text Block] | At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Commercial loans by grade Pass $ 39,166 $ 5,312 $ 10,392 $ 32,780 $ 47,492 $ 120,340 $ 255,482 $ 33,743 $ 289,225 Substandard 33 - - - - 87 120 384 504 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 39,199 $ 5,312 $ 10,392 $ 32,780 $ 47,492 $ 120,427 $ 255,602 $ 34,127 $ 289,729 At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Commercial real estate loans by grade Pass $ 128,404 $ 89,190 $ 78,940 $ 79,412 $ 84,384 $ 66,861 $ 527,191 $ - $ 527,191 Substandard 10,244 256 - 2,023 827 - 13,350 - 13,350 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 138,648 $ 89,446 $ 78,940 $ 81,435 $ 85,211 $ 66,861 $ 540,541 $ - $ 540,541 At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Construction loans by grade Pass $ - $ - $ - $ - $ - $ - $ - $ 50 $ 50 Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ - $ - $ - $ - $ - $ - $ - $ 50 $ 50 At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Residential Real Estate loans by grade Pass $ 17,259 $ - $ - $ - $ - $ - $ 17,259 $ - $ 17,259 Substandard 1,281 - - - - - 1,281 - 1,281 Doubtful - - - - - - - - - Loss - - - - - - - - - Total $ 18,540 $ - $ - $ - $ - $ - $ 18,540 $ - $ 18,540 At September 30, 2021 Revolving Loans Term Loans Amortized Cost Basis by Origination Year Total Amortized Prior 2017 2018 2019 2020 2021 Term Loans Cost Basis Total (In thousands) Consumer installment and other loans by delinquency and nonaccrual status Current $ 10,707 $ 12,593 $ 31,160 $ 43,128 $ 65,362 $ 94,335 $ 257,285 $ 22,774 $ 280,059 30-59 days past due 134 80 325 250 609 422 1,820 8 1,828 60-89 days past due 29 38 46 244 172 310 839 3 842 Past due 90 days or more 21 21 12 182 143 158 537 - 537 Nonaccrual - - - - - - - 346 346 Total $ 10,891 $ 12,732 $ 31,543 $ 43,804 $ 66,286 $ 95,225 $ 260,481 $ 23,131 $ 283,612 |
Note 6 - Other Assets and Oth_2
Note 6 - Other Assets and Other Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | At September 30, At December 31, 2021 2020 (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 62,421 60,444 Right-of-use asset 19,285 18,832 Limited partnership investments 27,997 18,335 Interest receivable 33,304 33,022 Prepaid assets 3,526 4,572 Other assets 10,187 10,471 Total other assets $ 170,947 $ 159,903 |
Schedule of Amounts Recognized in Net Income [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Investment loss included in pre-tax income $ 620 $ 640 $ 1,820 $ 1,840 Tax credits recognized in provision for income taxes 200 225 650 675 |
Other Liabilities [Table Text Block] | At September 30, At December 31, 2021 2020 (In thousands) Net deferred tax liability $ 4,567 $ 25,778 Operating lease liability 19,285 18,832 Securities purchases pending settlement 81,618 29,000 Other liabilities 52,087 38,988 Total other liabilities $ 157,557 $ 112,598 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Minimum At September 30, 2021 (In thousands) 2021 $ 1,525 2022 5,660 2023 4,952 2024 3,364 2025 2,173 Thereafter 2,251 Total minimum lease payments 19,925 Less: discount (640 ) Present value of lease liability $ 19,285 |
Note 7 - Goodwill and Identif_2
Note 7 - Goodwill and Identifiable Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | At September 30, 2021 At December 31, 2020 (In thousands) Goodwill $ 121,673 $ 121,673 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At September 30, 2021 At December 31, 2020 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core deposit intangibles $ 56,808 $ (55,908 ) $ 56,808 $ (55,704 ) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Total Core Deposit Intangibles (In thousands) For the nine months ended September 30, 2021 (actual) $ 204 Estimate for the remainder of 2021 65 Estimate for year ending December 31, 2022 252 2023 236 2024 222 2025 125 |
Note 8 - Deposits and Borrowe_2
Note 8 - Deposits and Borrowed Funds (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | Deposits At September 30, At December 31, 2021 2020 (In thousands) Noninterest-bearing $ 2,988,329 $ 2,725,177 Interest-bearing: Transaction 1,257,460 1,102,601 Savings 1,894,290 1,703,812 Time deposits less than $100 thousand 75,776 79,825 Time deposits $100 thousand through $250 thousand 48,550 49,323 Time deposits more than $250 thousand 24,556 27,241 Total deposits $ 6,288,961 $ 5,687,979 |
Schedule of Repurchase Agreements [Table Text Block] | Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At September 30, At December 31, 2021 2020 Repurchase agreements: (In thousands) Collateral securing borrowings: Agency residential MBS $ 46,984 $ 67,019 Corporate securities 185,493 188,195 Total collateral carrying value $ 232,477 $ 255,214 Total short-term borrowed funds $ 119,102 $ 102,545 |
Note 9 - Fair Value Measureme_2
Note 9 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | At September 30, 2021 Fair Value Quoted Prices Significant Significant (1) (In thousands) Debt securities available for sale Agency residential mortgage-backed securities (MBS) $ 458,053 $ - $ 458,053 $ - Securities of U.S. Government entities 128 - 128 - Obligations of states and political subdivisions 96,603 - 96,603 - Corporate securities 2,668,389 - 2,668,389 - Collateralized loan obligations 1,379,533 - 1,379,533 - Total debt securities available for sale $ 4,602,706 $ - $ 4,602,706 $ - At December 31, 2020 Fair Value Quoted Prices Significant Significant (1) (In thousands) Debt securities available for sale Agency residential 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 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | For the Nine Months Ended At September 30, 2021 September 30, 2021 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Loans: Commercial real estate $ 290 $ - $ - $ 290 $ - Residential real estate 173 - - 173 - Total assets measured at fair value on a nonrecurring basis $ 463 $ - $ - $ 463 $ - For the Year Ended At December 31, 2020 December 31, 2020 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) 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 $ - |
Fair Value, by Balance Sheet Grouping [Table Text Block] | At September 30, 2021 Carrying Estimated Fair Quoted Prices Significant Significant Financial Assets: (In thousands) Cash and due from banks $ 1,011,048 $ 1,011,048 $ 1,011,048 $ - $ - Debt securities held to maturity 356,106 364,741 - 364,741 - Loans 1,108,590 1,128,250 - - 1,128,250 Financial Liabilities: Deposits $ 6,288,961 $ 6,288,843 $ - $ 6,140,079 $ 148,764 Short-term borrowed funds 119,102 119,102 - 119,102 - At December 31, 2020 Carrying Estimated Fair Quoted Prices Significant Significant 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 - |
Note 11 - Earnings Per Common_2
Note 11 - Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 22,063 $ 20,051 $ 64,789 $ 56,575 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 26,866 26,930 26,851 26,977 Basic earnings per common share $ 0.82 $ 0.74 $ 2.41 $ 2.10 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,866 26,930 26,851 26,977 Add common stock equivalents for options 9 16 17 21 Weighted average number of common shares outstanding - diluted (denominator) 26,875 26,946 26,868 26,998 Diluted earnings per common share $ 0.82 $ 0.74 $ 2.41 $ 2.10 |
Note 3 - Investment Securitie_2
Note 3 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | $ 9 | $ 7 | $ 16 | $ 0 | |
Debt Securities, Held-to-maturity, Credit Loss Expense (Reversal) | (7) | (2) | $ 0 | ||
High Risk Collateralized Mortgage Obligations | 0 | 0 | |||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | 0 | ||||
Pledged Financial Instruments, Not Separately Reported, Securities, Total | 888,577 | 899,099 | |||
Debt Securities, Held-to-maturity, Nonaccrual | $ 0 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Ending Balance | $ 9 | $ 16 | $ 16 |
Note 3 - Investment Securitie_3
Note 3 - Investment Securities - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Investment Securities Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt securities available for sale, amortized cost | $ 4,501,502 | $ 3,900,751 |
Debt securities available for sale, gross unrealized gains | 108,442 | 163,576 |
Debt securities available for sale, gross unrealized losses | (7,238) | (1,142) |
Debt securities available for sale | 4,602,706 | 4,063,185 |
Held to maturity | 356,113 | 515,598 |
Debt securities held to maturity, gross unrecognized gains | 8,664 | 14,121 |
Debt securities held to maturity, gross unrecognized losses | (29) | (32) |
Debt securities held to maturity, fair value | 364,748 | 529,687 |
Debt securities, amortized cost | 4,857,615 | 4,416,349 |
Debt securities, gross unrecognized gains | 117,106 | 177,697 |
Debt securities, gross unrecognized losses | (7,267) | (1,174) |
Debt securities, fair value | 4,967,454 | 4,592,872 |
Agency Residential MBS [Member] | ||
Debt securities available for sale, amortized cost | 441,863 | 630,174 |
Debt securities available for sale, gross unrealized gains | 16,190 | 22,779 |
Debt securities available for sale, gross unrealized losses | 0 | (1) |
Debt securities available for sale | 458,053 | 652,952 |
Held to maturity | 165,922 | 240,332 |
Debt securities held to maturity, gross unrecognized gains | 4,786 | 6,852 |
Debt securities held to maturity, gross unrecognized losses | (17) | (32) |
Debt securities held to maturity, fair value | 170,691 | 247,152 |
US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 128 | 154 |
Debt securities available for sale, gross unrealized gains | 0 | 0 |
Debt securities available for sale, gross unrealized losses | 0 | 0 |
Debt securities available for sale | 128 | 154 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 92,623 | 105,679 |
Debt securities available for sale, gross unrealized gains | 3,984 | 5,332 |
Debt securities available for sale, gross unrealized losses | (4) | (1) |
Debt securities available for sale | 96,603 | 111,010 |
Held to maturity | 189,158 | 273,922 |
Debt securities held to maturity, gross unrecognized gains | 3,866 | 7,243 |
Debt securities held to maturity, gross unrecognized losses | 0 | 0 |
Debt securities held to maturity, fair value | 193,024 | 281,165 |
Debt Security, Corporate, US [Member] | ||
Debt securities available for sale, amortized cost | 2,588,376 | 1,986,995 |
Debt securities available for sale, gross unrealized gains | 86,488 | 131,025 |
Debt securities available for sale, gross unrealized losses | (6,475) | (42) |
Debt securities available for sale | 2,668,389 | 2,117,978 |
Collateralized Debt Obligations [Member] | ||
Debt securities available for sale, amortized cost | 1,378,512 | 1,152,766 |
Debt securities available for sale, gross unrealized gains | 1,780 | 4,433 |
Debt securities available for sale, gross unrealized losses | (759) | (1,098) |
Debt securities available for sale | 1,379,533 | 1,156,101 |
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 | |
Non-agency Residential MBS [Member] | ||
Held to maturity | 1,033 | 1,344 |
Debt securities held to maturity, gross unrecognized gains | 12 | 26 |
Debt securities held to maturity, gross unrecognized losses | (12) | 0 |
Debt securities held to maturity, fair value | $ 1,033 | $ 1,370 |
Note 3 - Investment Securitie_4
Note 3 - Investment Securities - Amortized Cost and Estimated Market Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Investment securities available for sale, amortized cost, 1 year or less | $ 241,684 | $ 212,140 |
Investment securities available for sale, fair value, 1 year or less | 244,492 | 213,715 |
Investment securities held to maturity, amortized cost, 1 year or less | 23,830 | 54,526 |
Investment securities held to maturity, fair value, 1 year or less | 23,966 | 54,927 |
Investment securities available for sale, amortized cost, over 1 to 5 years | 780,844 | 922,170 |
Investment securities available for sale, fair value, over 1 to 5 years | 822,330 | 974,438 |
Investment securities held to maturity, amortized cost, over 1 to 5 years | 126,644 | 129,786 |
Investment securities held to maturity, fair value, over 1 to 5 years | 129,311 | 133,195 |
Investment securities available for sale, amortized cost, over 5 to 10 years | 2,240,994 | 1,767,747 |
Investment securities available for sale, fair value, over 5 to 10 years | 2,283,056 | 1,851,184 |
Investment securities held to maturity, amortized cost, over 5 to 10 years | 38,684 | 89,610 |
Investment securities held to maturity, fair value, over 5 to 10 years | 39,747 | 93,043 |
Investment securities available for sale, amortized cost, over 10 years | 796,117 | 368,520 |
Investment securities available for sale, fair value, over 10 years | 794,775 | 370,896 |
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 | 4,059,639 | 3,270,577 |
Investment securities available for sale, fair value, subtotal | 4,144,653 | 3,410,233 |
Investment securities held to maturity, amortized cost, subtotal | 189,158 | 273,922 |
Investment securities held to maturity, fair value, subtotal | 193,024 | 281,165 |
Investment securities available for sale, amortized cost | 441,863 | 630,174 |
Investment securities available for sale, fair value | 458,053 | 652,952 |
Investment securities held to maturity, amortized cost | 166,955 | 241,676 |
Investment securities held to maturity, fair value | 171,724 | 248,522 |
Investment securities available for sale, amortized cost | 4,501,502 | 3,900,751 |
Investment securities available for sale, fair value | 4,602,706 | 4,063,185 |
Investment securities held to maturity, amortized cost | 356,113 | 515,598 |
Investment securities held to maturity, fair value | $ 364,748 | $ 529,687 |
Note 3 - Investment Securitie_5
Note 3 - Investment Securities - Gross Unrealized Losses, Investment Securities Portfolio (Details) $ in Thousands | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) |
Available for sale securities, less than 12 months, number of investment positions | 61 | 40 |
Available for sale securities, less than 12 months, fair value | $ 641,630 | $ 269,526 |
Available for sale securities, less than 12 months, unrealized losses | $ (7,084) | $ (1,100) |
Available for sale securities, 12 months or longer, number of investment positions | 11 | 2 |
Available for sale securities, 12 months or longer, fair value | $ 36,734 | $ 14,980 |
Available for sale securities, 12 months or longer, unrealized losses | $ (154) | $ (42) |
Available for sale securities, total, number of investment positions | 72 | 42 |
Available for sale securities, total, fair value | $ 678,364 | $ 284,506 |
Available for sale securities, total, unrealized losses | $ (7,238) | $ (1,142) |
Held to Maturity securities, less than 12 months, number of investment positions | 4 | |
Held to Maturity securities, less than 12 months, fair value | $ 708 | |
Held to Maturity securities, less than 12 months, unrecognized losses | $ (12) | |
Held to Maturity securities, 12 months or longer, number of investment positions | 3 | |
Held to Maturity securities, 12 months or longer, fair value | $ 618 | |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (17) | |
Held to Maturity securities, total, number of investment positions | 7 | |
Held to Maturity securities, total, fair value | $ 1,326 | |
Held to Maturity securities, total, unrecognized losses | $ (29) | |
Agency Residential MBS [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 0 | 1 |
Available for sale securities, less than 12 months, fair value | $ 0 | $ 96 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ (1) |
Available for sale securities, 12 months or longer, number of investment positions | 2 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 92 | $ 17 |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | $ 0 |
Available for sale securities, total, number of investment positions | 2 | 2 |
Available for sale securities, total, fair value | $ 92 | $ 113 |
Available for sale securities, total, unrealized losses | $ 0 | $ (1) |
Held to Maturity securities, less than 12 months, number of investment positions | 3 | 3 |
Held to Maturity securities, less than 12 months, fair value | $ 112 | $ 377 |
Held to Maturity securities, less than 12 months, unrecognized losses | $ 0 | $ (1) |
Held to Maturity securities, 12 months or longer, number of investment positions | 3 | 3 |
Held to Maturity securities, 12 months or longer, fair value | $ 618 | $ 788 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (17) | $ (31) |
Held to Maturity securities, total, number of investment positions | 6 | 6 |
Held to Maturity securities, total, fair value | $ 730 | $ 1,165 |
Held to Maturity securities, total, unrecognized losses | $ (17) | $ (32) |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 0 | 1 |
Available for sale securities, less than 12 months, fair value | $ 0 | $ 154 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ 0 |
Available for sale securities, 12 months or longer, number of investment positions | 1 | 0 |
Available for sale securities, 12 months or longer, fair value | $ 128 | $ 0 |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | $ 0 |
Available for sale securities, total, number of investment positions | 1 | 1 |
Available for sale securities, total, fair value | $ 128 | $ 154 |
Available for sale securities, total, unrealized losses | $ 0 | $ 0 |
Non-agency Residential MBS [Member] | ||
Held to Maturity securities, less than 12 months, number of investment positions | 1 | |
Held to Maturity securities, less than 12 months, fair value | $ 596 | |
Held to Maturity securities, less than 12 months, unrecognized losses | $ (12) | |
Held to Maturity securities, 12 months or longer, number of investment positions | 0 | |
Held to Maturity securities, 12 months or longer, fair value | $ 0 | |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ 0 | |
Held to Maturity securities, total, number of investment positions | 1 | |
Held to Maturity securities, total, fair value | $ 596 | |
Held to Maturity securities, total, unrecognized losses | $ (12) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 2 | 2 |
Available for sale securities, less than 12 months, fair value | $ 1,440 | $ 692 |
Available for sale securities, less than 12 months, unrealized losses | $ (3) | $ (1) |
Available for sale securities, 12 months or longer, number of investment positions | 2 | 0 |
Available for sale securities, 12 months or longer, fair value | $ 675 | $ 0 |
Available for sale securities, 12 months or longer, unrealized losses | $ (1) | $ 0 |
Available for sale securities, total, number of investment positions | 4 | 2 |
Available for sale securities, total, fair value | $ 2,115 | $ 692 |
Available for sale securities, total, unrealized losses | $ (4) | $ (1) |
Debt Security, Corporate, US [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 37 | 0 |
Available for sale securities, less than 12 months, fair value | $ 436,490 | $ 0 |
Available for sale securities, less than 12 months, unrealized losses | $ (6,475) | $ 0 |
Available for sale securities, 12 months or longer, number of investment positions | 0 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 0 | $ 14,963 |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | $ (42) |
Available for sale securities, total, number of investment positions | 37 | 1 |
Available for sale securities, total, fair value | $ 436,490 | $ 14,963 |
Available for sale securities, total, unrealized losses | $ (6,475) | $ (42) |
Collateralized Loan Obligations [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 22 | |
Available for sale securities, less than 12 months, fair value | $ 203,700 | |
Available for sale securities, less than 12 months, unrealized losses | $ (606) | |
Available for sale securities, 12 months or longer, number of investment positions | 6 | |
Available for sale securities, 12 months or longer, fair value | $ 35,839 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (153) | |
Available for sale securities, total, number of investment positions | 28 | |
Available for sale securities, total, fair value | $ 239,539 | |
Available for sale securities, total, unrealized losses | $ (759) | |
Collateralized Debt 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 3 - Investment Securitie_6
Note 3 - Investment Securities - Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Dec. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balance | $ 16 | $ 9 | $ 0 |
Debt Securities, Held-to-maturity, Credit Loss Expense (Reversal) | (7) | (2) | 0 |
Chargeoffs | 0 | 0 | |
Recoveries | 0 | 0 | |
Balance | 9 | 7 | 16 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | 0 | 16 | |
Balance | 0 | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Balance | $ 9 | $ 16 | |
Balance | $ 9 |
Note 3 - Investment Securitie_7
Note 3 - Investment Securities - Credit Quality (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Held to maturity | $ 356,113 | $ 515,598 |
AAA/AA/A [Member] | ||
Held to maturity | 351,266 | |
BBB [Member] | ||
Held to maturity | 607 | |
BB/B/NR [Member] | ||
Held to maturity | 4,240 | |
Agency Residential MBS [Member] | ||
Held to maturity | 165,922 | 240,332 |
Agency Residential MBS [Member] | AAA/AA/A [Member] | ||
Held to maturity | 165,922 | |
Agency Residential MBS [Member] | BBB [Member] | ||
Held to maturity | 0 | |
Agency Residential MBS [Member] | BB/B/NR [Member] | ||
Held to maturity | 0 | |
Non-agency Residential MBS [Member] | ||
Held to maturity | 1,033 | 1,344 |
Non-agency Residential MBS [Member] | AAA/AA/A [Member] | ||
Held to maturity | 176 | |
Non-agency Residential MBS [Member] | BBB [Member] | ||
Held to maturity | 607 | |
Non-agency Residential MBS [Member] | BB/B/NR [Member] | ||
Held to maturity | 250 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Held to maturity | 189,158 | $ 273,922 |
US States and Political Subdivisions Debt Securities [Member] | AAA/AA/A [Member] | ||
Held to maturity | 185,168 | |
US States and Political Subdivisions Debt Securities [Member] | BBB [Member] | ||
Held to maturity | 0 | |
US States and Political Subdivisions Debt Securities [Member] | BB/B/NR [Member] | ||
Held to maturity | $ 3,990 |
Note 3 - Investment Securitie_8
Note 3 - Investment Securities - Interest Income From Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Taxable | $ 26,674 | $ 23,079 | $ 78,564 | $ 67,963 |
Tax-exempt from federal income tax | 1,978 | 2,911 | 6,638 | 9,501 |
Total interest income from investment securities | $ 28,652 | $ 25,990 | $ 85,202 | $ 77,464 |
Note 4 - Loans, Allowance for_3
Note 4 - Loans, Allowance for Credit Losses and Other Real Estate Owned (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | |
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 23,882 | $ 24,142 | $ 23,882 | $ 24,142 | $ 23,737 | $ 23,854 | $ 24,529 | $ 19,484 |
Loans and Leases Receivable, Nonaccrual, Commitment to Lend | $ 0 | $ 0 | 0 | |||||
Troubled Debt Restructurings During Period | 0 | 0 | 0 | 0 | ||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring | $ 2,041 | $ 2,041 | 6,221 | |||||
Other Real Estate, Reserve | 0 | 0 | 0 | |||||
Mortgage Loans in Process of Foreclosure, Amount | 346 | 346 | 346 | |||||
Residential Real Estate Included in OREO [Member] | ||||||||
Real Estate Acquired Through Foreclosure | 0 | 0 | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | 6,703 | $ 5,665 | 6,703 | $ 5,665 | 6,752 | 5,660 | 4,623 | 4,064 |
Financing Receivable, Troubled Debt Restructuring | $ 1,868 | $ 1,868 | 6,040 | |||||
Allowance for Credit Losses, Collateral-dependent Loans | $ 0 | |||||||
Number of Collateral-dependent Loans | 5 | 5 | 5 | |||||
Collateral-dependent Loans, Balance | $ 8,500 | $ 8,500 | $ 11,100 | |||||
Consumer Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | 10,235 | 9,433 | 10,235 | 9,433 | 10,065 | 8,936 | 11,770 | 6,445 |
Collateral-dependent Loans, Balance | 1,600 | 1,600 | 446 | |||||
Commercial Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 6,892 | 8,985 | $ 6,892 | 8,985 | 6,858 | 9,205 | 8,072 | 4,959 |
Number of Collateral-dependent Loans | 1 | 1 | ||||||
Collateral-dependent Loans, Balance | $ 87 | $ 87 | ||||||
Residential Portfolio Segment [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | 50 | $ 52 | 50 | $ 52 | $ 57 | 47 | $ 57 | $ 206 |
Financing Receivable, Troubled Debt Restructuring | $ 173 | $ 173 | $ 181 | |||||
Number of Collateral-dependent Loans | 4 | 4 | 2 | |||||
Collateral-dependent Loans, Balance | $ 519 | $ 519 | $ 346 | |||||
Other Consumer Loan [Member] | ||||||||
Financing Receivable, Principal and Interest Deferred Payments | 1,000 | 1,000 | ||||||
Restructured Loans [Member] | ||||||||
Financing Receivable, Troubled Debt Restructuring | 2,041 | 2,041 | 6,221 | |||||
Impaired Loans, Restructured, Nonaccrual Status | 0 | 0 | 3,420 | |||||
Nonperforming Financial Instruments [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 | $ 0 |
Note 4 - Loans, Allowance for_4
Note 4 - Loans, Allowance for Credit Losses and Other Real Estate Owned - Loans Receivable at Carrying Amount (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans | $ 1,132,472 | $ 1,256,243 |
Commercial Portfolio Segment [Member] | ||
Loans | 289,729 | 394,806 |
Commercial Portfolio Segment [Member] | Paycheck Protection Program Loans [Member] | ||
Loans | 102,977 | 186,945 |
Commercial Portfolio Segment [Member] | Other Commercial Portfolio Segment [Member] | ||
Loans | 186,752 | 207,861 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 540,541 | 564,300 |
Construction Portfolio Segment [Member] | ||
Loans | 50 | 129 |
Residential Portfolio Segment [Member] | ||
Loans | 18,540 | 23,471 |
Consumer Portfolio Segment [Member] | ||
Loans | $ 283,612 | $ 273,537 |
Note 4 - Loans, Allowance for_5
Note 4 - Loans, Allowance for Credit Losses and Other Real Estate Owned - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balance at beginning of period | $ 23,737 | $ 24,529 | $ 23,854 | $ 19,484 |
Provision (reversal) | 2 | 0 | 2 | 4,300 |
Chargeoffs | (972) | (872) | (2,232) | (3,249) |
Recoveries | 1,115 | 485 | 2,258 | 1,590 |
Total allowance for credit losses | 23,882 | 24,142 | 23,882 | 24,142 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | 2,017 | |||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 21,501 | |||
Unallocated Financing Receivable [Member] | ||||
Balance at beginning of period | 3,701 | |||
Provision (reversal) | 0 | |||
Chargeoffs | 0 | |||
Recoveries | 0 | |||
Total allowance for credit losses | 0 | 0 | ||
Unallocated Financing Receivable [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | (3,701) | |||
Unallocated Financing Receivable [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 0 | |||
Commercial Portfolio Segment [Member] | ||||
Balance at beginning of period | 6,858 | 8,072 | 9,205 | 4,959 |
Provision (reversal) | 10 | 867 | (2,425) | 537 |
Chargeoffs | (56) | 0 | (56) | (178) |
Recoveries | 80 | 46 | 168 | 282 |
Total allowance for credit losses | 6,892 | 8,985 | 6,892 | 8,985 |
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | 3,385 | |||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 8,344 | |||
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance at beginning of period | 6,752 | 4,623 | 5,660 | 4,064 |
Provision (reversal) | (754) | 1,030 | 314 | 946 |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 705 | 12 | 729 | 37 |
Total allowance for credit losses | 6,703 | 5,665 | 6,703 | 5,665 |
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | 618 | |||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 4,682 | |||
Construction Portfolio Segment [Member] | ||||
Balance at beginning of period | 5 | 7 | 6 | 109 |
Provision (reversal) | (3) | 0 | (4) | (71) |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total allowance for credit losses | 2 | 7 | 2 | 7 |
Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | (31) | |||
Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 78 | |||
Residential Portfolio Segment [Member] | ||||
Balance at beginning of period | 57 | 57 | 47 | 206 |
Provision (reversal) | (7) | (5) | 3 | (22) |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total allowance for credit losses | 50 | 52 | 50 | 52 |
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | (132) | |||
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | 74 | |||
Consumer Portfolio Segment [Member] | ||||
Balance at beginning of period | 10,065 | 11,770 | 8,936 | 6,445 |
Provision (reversal) | 756 | (1,892) | 2,114 | 2,910 |
Chargeoffs | (916) | (872) | (2,176) | (3,071) |
Recoveries | 330 | 427 | 1,361 | 1,271 |
Total allowance for credit losses | $ 10,235 | $ 9,433 | $ 10,235 | 9,433 |
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance at beginning of period | 1,878 | |||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Balance at beginning of period | $ 8,323 |
Note 4 - Loans, Allowance for_6
Note 4 - Loans, Allowance for Credit Losses and Other Real Estate Owned - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans | $ 1,132,472 | $ 1,256,243 |
Pass [Member] | ||
Loans | 1,114,575 | 1,224,701 |
Substandard [Member] | ||
Loans | 16,497 | 30,428 |
Doubtful [Member] | ||
Loans | 809 | 543 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 591 | 571 |
Commercial Portfolio Segment [Member] | ||
Loans | 289,729 | 394,806 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 289,225 | 386,144 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 504 | 8,662 |
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 | 540,541 | 564,300 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans | 527,191 | 545,398 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 13,350 | 18,902 |
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 | 50 | 129 |
Construction Portfolio Segment [Member] | Pass [Member] | ||
Loans | 50 | 129 |
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 | 18,540 | 23,471 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans | 17,259 | 22,105 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 1,281 | 1,366 |
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 | 283,612 | 273,537 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 280,850 | 270,925 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 1,362 | 1,498 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 809 | 543 |
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | $ 591 | $ 571 |
Note 4 - Loans, Allowance for_7
Note 4 - Loans, Allowance for Credit Losses and Other Real Estate Owned - Loans by Delinquency and Nonaccrual Status (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Total loans | $ 1,132,472 | $ 1,256,243 |
Nonaccrual | 1,237 | 4,329 |
Financial Asset, Not Past Due [Member] | ||
Total loans | 1,127,490 | 1,247,222 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 2,122 | 3,493 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 1,086 | 749 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 537 | 450 |
Commercial Portfolio Segment [Member] | ||
Total loans | 289,729 | 394,806 |
Nonaccrual | 200 | 83 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 289,529 | 394,004 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 0 | 713 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 0 | 6 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total loans | 540,541 | 564,300 |
Nonaccrual | 548 | 3,720 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 539,749 | 560,580 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 244 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Total loans | 50 | 129 |
Nonaccrual | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 50 | 129 |
Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Total loans | 18,540 | 23,471 |
Nonaccrual | 143 | 161 |
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 18,103 | 22,269 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 294 | 770 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 0 | 271 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Total loans | 283,612 | 273,537 |
Nonaccrual | 346 | 365 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 280,059 | 270,240 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 1,828 | 2,010 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 842 | 472 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | $ 537 | $ 450 |
Note 4 - Loans, Allowance for L
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Troubled Debt Restructurings (Details) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Number of Contracts | 3 | 7 |
Pre-Modification Carrying Value | $ 3,026 | $ 8,608 |
Period-End Carrying Value | 2,041 | 6,221 |
Period-End Individual Impairment Allowance | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of Contracts | 2 | 6 |
Pre-Modification Carrying Value | $ 2,785 | $ 8,367 |
Period-End Carrying Value | 1,868 | 6,040 |
Period-End Individual Impairment Allowance | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | ||
Number of Contracts | 1 | 1 |
Pre-Modification Carrying Value | $ 241 | $ 241 |
Period-End Carrying Value | 173 | 181 |
Period-End Individual Impairment Allowance | $ 0 | $ 0 |
Note 4 - Loans, Allowance for_8
Note 4 - Loans, Allowance for Credit Losses and Other Real Estate Owned - Risk Category of Loans by Class (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans | $ 1,132,472 | $ 1,256,243 |
Nonaccrual | 1,237 | 4,329 |
Financial Asset, Not Past Due [Member] | ||
Loans | 1,127,490 | 1,247,222 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 2,122 | 3,493 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 1,086 | 749 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 537 | 450 |
Commercial Portfolio Segment [Member] | ||
Originated prior | 39,199 | |
Originated 2017 | 5,312 | |
Originated 2018 | 10,392 | |
Originated 2019 | 32,780 | |
Originated 2020 | 47,492 | |
Originated 2021 | 120,427 | |
Total Term Loans | 255,602 | |
Revolving Loans Amortized Cost Basis | 34,127 | |
Loans | 289,729 | 394,806 |
Nonaccrual | 200 | 83 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 289,529 | 394,004 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 713 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 6 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 138,648 | |
Originated 2017 | 89,446 | |
Originated 2018 | 78,940 | |
Originated 2019 | 81,435 | |
Originated 2020 | 85,211 | |
Originated 2021 | 66,861 | |
Total Term Loans | 540,541 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 540,541 | 564,300 |
Nonaccrual | 548 | 3,720 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 539,749 | 560,580 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 244 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 50 | |
Loans | 50 | 129 |
Nonaccrual | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 50 | 129 |
Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Originated prior | 18,540 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 18,540 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 18,540 | 23,471 |
Nonaccrual | 143 | 161 |
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 18,103 | 22,269 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 294 | 770 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 271 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans | 283,612 | 273,537 |
Nonaccrual | 346 | 365 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 280,059 | 270,240 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 1,828 | 2,010 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 842 | 472 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 537 | 450 |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | ||
Loans | 10,891 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 10,707 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 134 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 29 | |
Consumer Portfolio Segment [Member] | Term Loan Originated Prior [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 21 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | ||
Loans | 12,732 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 12,593 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 80 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 38 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2017 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 21 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | ||
Loans | 31,543 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 31,160 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 325 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 46 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2018 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 12 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | ||
Loans | 43,804 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 43,128 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 250 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 244 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2019 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 182 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | ||
Loans | 66,286 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 65,362 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 609 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 172 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2020 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 143 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2021 [Member] | ||
Loans | 95,225 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2021 [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 94,335 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2021 [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 422 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2021 [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 310 | |
Consumer Portfolio Segment [Member] | Term Loans Originated in 2021 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 158 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | ||
Loans | 260,481 | |
Nonaccrual | 0 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 257,285 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 1,820 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 839 | |
Consumer Portfolio Segment [Member] | Total Term Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 537 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | ||
Loans | 23,131 | |
Nonaccrual | 346 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 22,774 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 8 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 3 | |
Consumer Portfolio Segment [Member] | Revolving Loans Amortized Cost Basis [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | |
Pass [Member] | ||
Loans | 1,114,575 | 1,224,701 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 39,166 | |
Originated 2017 | 5,312 | |
Originated 2018 | 10,392 | |
Originated 2019 | 32,780 | |
Originated 2020 | 47,492 | |
Originated 2021 | 120,340 | |
Total Term Loans | 255,482 | |
Revolving Loans Amortized Cost Basis | 33,743 | |
Loans | 289,225 | 386,144 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 128,404 | |
Originated 2017 | 89,190 | |
Originated 2018 | 78,940 | |
Originated 2019 | 79,412 | |
Originated 2020 | 84,384 | |
Originated 2021 | 66,861 | |
Total Term Loans | 527,191 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 527,191 | 545,398 |
Pass [Member] | Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 50 | |
Loans | 50 | 129 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Originated prior | 17,259 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 17,259 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 17,259 | 22,105 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 280,850 | 270,925 |
Substandard [Member] | ||
Loans | 16,497 | 30,428 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 33 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 87 | |
Total Term Loans | 120 | |
Revolving Loans Amortized Cost Basis | 384 | |
Loans | 504 | 8,662 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 10,244 | |
Originated 2017 | 256 | |
Originated 2018 | 0 | |
Originated 2019 | 2,023 | |
Originated 2020 | 827 | |
Originated 2021 | 0 | |
Total Term Loans | 13,350 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 13,350 | 18,902 |
Substandard [Member] | Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 0 | 0 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Originated prior | 1,281 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 1,281 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 1,281 | 1,366 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 1,362 | 1,498 |
Doubtful [Member] | ||
Loans | 809 | 543 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 0 | 0 |
Doubtful [Member] | Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 809 | 543 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 591 | 571 |
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Construction Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Residential Portfolio Segment [Member] | ||
Originated prior | 0 | |
Originated 2017 | 0 | |
Originated 2018 | 0 | |
Originated 2019 | 0 | |
Originated 2020 | 0 | |
Originated 2021 | 0 | |
Total Term Loans | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ||
Loans | $ 591 | $ 571 |
Note 5 - Concentration of Cre_2
Note 5 - Concentration of Credit Risk (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
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 Related to Real Estate Loans | $ 36,287 | $ 37,456 |
Corporate Debt Securities [Member] | ||
Concentration Risk, Issuer Relationships | 110 | |
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 | 32 | |
Aggregate Loans [Member] | Customer Concentration Risk [Member] | Minimum [Member] | ||
Concentration Risk, Aggregate Loans Amount | $ 5,000 |
Note 6 - Other Assets and Oth_3
Note 6 - Other Assets and Other Liabilities (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands | Sep. 27, 2019 | Jun. 28, 2018 | Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) |
Share Price (in dollars per share) | $ / shares | $ 222.75 | $ 222.75 | |||||
LIHTC Investments | $ 27,997 | $ 27,997 | $ 18,335 | ||||
Qualified Affordable Housing Project Investments, Commitment | 20,228 | 20,228 | 12,202 | ||||
Deferred Tax Liabilities, Net, Total | 4,567 | 4,567 | 25,778 | ||||
Deferred Income Tax Expense (Benefit), Total | (25,353) | (22,805) | |||||
Deferred Tax Liabilities, Investments | $ 29,920 | 29,920 | 48,021 | ||||
Debt Securities, Available-for-sale, Unrealized Gain (Loss), Total | $ 101,204 | 162,434 | |||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years | 5 years | |||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | 5 years | |||||
Operating Lease, Liability, Total | $ 19,285 | $ 19,285 | 18,832 | ||||
Operating Lease, Right-of-Use Asset | $ 19,285 | $ 19,285 | $ 18,832 | ||||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 3 months 18 days | 4 years 3 months 18 days | |||||
Operating Lease, Weighted Average Discount Rate, Percent | 1.70% | 1.70% | |||||
Operating Lease, Cost | $ 1,637 | $ 1,671 | $ 4,949 | $ 4,988 | |||
Short-term Lease, Cost | 0 | 0 | |||||
Variable Lease, Cost | 0 | 0 | |||||
Sublease Income | 0 | $ 0 | |||||
Contingent Commitment, Remainder of Fiscal Year [Member] | |||||||
Qualified Affordable Housing Project Investments, Commitment | 2,025 | 2,025 | |||||
Contingent Commitment, Year 1 [Member] | |||||||
Qualified Affordable Housing Project Investments, Commitment | 7,032 | 7,032 | |||||
Contingent Commitment, Year 2 [Member] | |||||||
Qualified Affordable Housing Project Investments, Commitment | 8,039 | 8,039 | |||||
Contingent Commitment, Year 3 [Member] | |||||||
Qualified Affordable Housing Project Investments, Commitment | 2,323 | 2,323 | |||||
Contingent Commitment, Year 4 [Member] | |||||||
Qualified Affordable Housing Project Investments, Commitment | 179 | 179 | |||||
Contingent Commitment, Year 5 [Member] | |||||||
Qualified Affordable Housing Project Investments, Commitment | 77 | 77 | |||||
Contingent Commitment, Year 6 or Thereafter [Member] | |||||||
Qualified Affordable Housing Project Investments, Commitment | $ 553 | $ 553 | |||||
VISA Class B Common Stock [Member] | |||||||
Investment Owned, Balance, Shares (in shares) | shares | 211 | 211 | |||||
Conversion Rate of Class B Common Stock into Class A Common Stock | 1.6228 | 1.6298 | |||||
VISA Class B Common Stock [Member] | Reported Value Measurement [Member] | |||||||
Investment Owned, at Fair Value | $ 0 | $ 0 |
Note 6 - Other Assets and Oth_4
Note 6 - Other Assets and Other Liabilities - Summary of Other Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | |
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 | 62,421 | 60,444 | |
Right-of-use asset | 19,285 | 18,832 | |
Limited partnership investments | 27,997 | 18,335 | |
Interest receivable | 33,304 | 33,022 | |
Prepaid assets | 3,526 | 4,572 | |
Other assets | 10,187 | 10,471 | |
Total other assets | $ 170,947 | $ 159,903 | |
[1] | A bank applying for membership in the Federal Reserve System is required to subscribe to stock in the Federal Reserve Bank (FRB) in its district in a sum equal to six percent of the bank’s paid-up capital stock and surplus. One-half of the amount of the bank's subscription shall be paid to the FRB and the remaining half will be subject to call when deemed necessary by the Board of Governors of the Federal Reserve System. |
Note 6 - Other Assets and Oth_5
Note 6 - Other Assets and Other Liabilities - Amounts Recognized in Net Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investment loss included in pre-tax income | $ 620 | $ 640 | $ 1,820 | $ 1,840 |
Tax credits recognized in provision for income taxes | $ 200 | $ 225 | $ 650 | $ 675 |
Note 6 - Other Assets and Oth_6
Note 6 - Other Assets and Other Liabilities - Other Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Net deferred tax liability | $ 4,567 | $ 25,778 |
Operating lease liability | 19,285 | 18,832 |
Securities purchases pending settlement | 81,618 | 29,000 |
Other liabilities | 52,087 | 38,988 |
Total other liabilities | $ 157,557 | $ 112,598 |
Note 6 - Other Assets and Oth_7
Note 6 - Other Assets and Other Liabilities - Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
2021 | $ 1,525 | |
2022 | 5,660 | |
2023 | 4,952 | |
2024 | 3,364 | |
2025 | 2,173 | |
Thereafter | 2,251 | |
Total minimum lease payments | 19,925 | |
Less: discount | (640) | |
Operating lease liability | $ 19,285 | $ 18,832 |
Note 7 - Goodwill and Identif_3
Note 7 - Goodwill and Identifiable Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | |
Goodwill and Intangible Asset Impairment, Total | $ 0 | $ 0 | $ 0 |
Amortization Expense, Adjustment Resulting from a Change in Estimates of Useful Lives or Residual Values | $ 0 | $ 0 | $ 0 |
Note 7 - Goodwill and Identif_4
Note 7 - Goodwill and Identifiable Intangible Assets - Carrying Values of Goodwill (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Goodwill | $ 121,673 | $ 121,673 |
Note 7 - Goodwill and Identif_5
Note 7 - Goodwill and Identifiable Intangible Assets - Gross Carrying Amount of Intangible Assets and Accumulated Amortization (Details) - Core Deposits [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Gross Carrying Amount | $ 56,808 | $ 56,808 |
Accumulated Amortization | $ (55,908) | $ (55,704) |
Note 7 - Goodwill and Identif_6
Note 7 - Goodwill and Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
For the nine months ended September 30, 2021 (actual) | $ 67 | $ 72 | $ 204 | $ 218 |
2021 | 1,525 | 1,525 | ||
2022 | 5,660 | 5,660 | ||
Core Deposits [Member] | ||||
For the nine months ended September 30, 2021 (actual) | 204 | |||
2021 | 65 | 65 | ||
2022 | 252 | 252 | ||
2023 | 236 | 236 | ||
2024 | 222 | 222 | ||
2025 | $ 125 | $ 125 |
Note 8 - Deposits and Borrowe_3
Note 8 - Deposits and Borrowed Funds (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Demand Deposit Overdrafts | $ 870 | $ 870 | $ 682 | ||
Interest Expense, Time Deposits, $100,000 or More | $ 58 | $ 80 | $ 204 | $ 238 |
Note 8 - Deposits and Borrowe_4
Note 8 - Deposits and Borrowed Funds - Deposits Detail (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Noninterest-bearing | $ 2,988,329 | $ 2,725,177 |
Transaction | 1,257,460 | 1,102,601 |
Savings | 1,894,290 | 1,703,812 |
Time deposits less than $100 thousand | 75,776 | 79,825 |
Time deposits $100 thousand through $250 thousand | 48,550 | 49,323 |
Time deposits more than $250 thousand | 24,556 | 27,241 |
Total deposits | $ 6,288,961 | $ 5,687,979 |
Note 8 - Deposits and Borrowe_5
Note 8 - Deposits and Borrowed Funds - Short-term Borrowed Funds (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Collateral Carrying Value | $ 232,477 | $ 255,214 |
Short-term borrowed funds | 119,102 | 102,545 |
Agency Residential MBS [Member] | ||
Collateral Carrying Value | 46,984 | 67,019 |
Corporate Debt Securities [Member] | ||
Collateral Carrying Value | $ 185,493 | $ 188,195 |
Note 9 - Fair Value Measureme_3
Note 9 - Fair Value Measurements (Details Textual) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value Inputs, Appraisal Rate | 10.00% |
Note 9 - Fair Value Measureme_4
Note 9 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | |||
Investment securities available for sale | $ 4,602,706 | $ 4,063,185 | |||
Agency Residential MBS [Member] | |||||
Investment securities available for sale | 458,053 | 652,952 | |||
US Government Agencies Debt Securities [Member] | |||||
Investment securities available for sale | 128 | 154 | |||
US States and Political Subdivisions Debt Securities [Member] | |||||
Investment securities available for sale | 96,603 | 111,010 | |||
Debt Security, Corporate, US [Member] | |||||
Investment securities available for sale | 2,668,389 | 2,117,978 | |||
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 | 4,602,706 | 4,063,185 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 4,602,706 | 4,063,185 | |||
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 | 458,053 | 652,952 | |||
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 | 458,053 | 652,952 | |||
Fair Value, Recurring [Member] | Agency Residential MBS [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||||
Investment securities available for sale | 128 | 154 | |||
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 | 128 | 154 | |||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||||
Investment securities available for sale | 96,603 | 111,010 | |||
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 | 96,603 | 111,010 | |||
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 | 2,668,389 | 2,117,978 | |||
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 | 2,668,389 | 2,117,978 | |||
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] | Collateralized Loan Obligations [Member] | |||||
Investment securities available for sale | 1,379,533 | 1,156,101 | |||
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 | 1,379,533 | 1,156,101 | |||
Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | $ 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | |||||
Investment securities available for sale | 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 | [2] | $ 0 | |||
[1] | There were no transfers in to or out of level 3 during the three months ended March 31, 2021. | ||||
[2] | There were no transfers in to or out of level 3 during the year ended December 31, 2020. |
Note 9 - Fair Value Measureme_5
Note 9 - Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Fair Value | $ 463 | $ 9,161 |
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 | 463 | 9,161 |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 290 | 3,710 |
Total Losses | 0 | 0 |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | 290 | 3,710 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 5,270 | |
Total Losses | 0 | |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | 0 | |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | 0 | |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | 5,270 | |
Impaired Loans [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | 173 | 181 |
Total Losses | 0 | 0 |
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | $ 173 | $ 181 |
Note 9 - Fair Value Measureme_6
Note 9 - Fair Value Measurements - Fair Value Estimates for Financial Instruments, Excluding Financial Instruments Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Reported Value Measurement [Member] | ||
Cash and due from banks | $ 1,011,048 | $ 621,275 |
Debt securities held to maturity | 356,106 | 515,589 |
Loans | 1,108,590 | 1,232,389 |
Deposits | 6,288,961 | 5,687,979 |
Short-term borrowed funds | 119,102 | 102,545 |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 1,011,048 | 621,275 |
Debt securities held to maturity | 364,741 | 529,678 |
Loans | 1,128,250 | 1,290,938 |
Deposits | 6,288,843 | 5,688,049 |
Short-term borrowed funds | 119,102 | 102,545 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 1,011,048 | 621,275 |
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 | 364,741 | 529,678 |
Loans | 0 | 0 |
Deposits | 6,140,079 | 5,531,590 |
Short-term borrowed funds | 119,102 | 102,545 |
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 | 1,128,250 | 1,290,938 |
Deposits | 148,764 | 156,459 |
Short-term borrowed funds | $ 0 | $ 0 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Jun. 30, 2019 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2017 | |
Loan Commitments, Not Unconditionally Cancellable | $ 36,287 | $ 36,287 | |||
Unfunded Loan Commitments | 234,089 | 234,089 | $ 277,878 | ||
Guarantor Obligations, Current Carrying Value | 580 | 580 | 580 | ||
Other Liabilities [Member] | |||||
Reserve for Unfunded Commitments | 101 | 101 | 101 | ||
Financial Standby Letter of Credit [Member] | |||||
Letters of Credit Outstanding, Amount | 3,403 | 3,403 | 2,357 | ||
Commercial Standby Letters of Credit [Member] | |||||
Letters of Credit Outstanding, Amount | 95 | 95 | 0 | ||
Customer Refunds [Member] | |||||
Loss Contingency Accrual, Ending Balance | 981 | $ 5,843 | 981 | $ 5,542 | |
Loss Contingency Accrual, Period Increase (Decrease), Total | $ 301 | ||||
Loss Contingency Accrual, Payments | $ 13 | $ 452 | $ 4,410 |
Note 11 - Earnings Per Common_3
Note 11 - Earnings Per Common Share (Details Textual) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Payment Arrangement, Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 744 | 567 | 618 | 560 |
Note 11 - Earnings Per Common_4
Note 11 - Earnings Per Common Share - Earnings Per Common Share and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income applicable to common equity (numerator) | $ 22,063 | $ 20,051 | $ 64,789 | $ 56,575 |
Weighted average number of common shares outstanding - basic (denominator) (in shares) | 26,866 | 26,930 | 26,851 | 26,977 |
Basic earnings per common share (in dollars per share) | $ 0.82 | $ 0.74 | $ 2.41 | $ 2.10 |
Add common stock equivalents for options (in shares) | 9 | 16 | 17 | 21 |
Weighted average number of common shares outstanding - diluted (denominator) (in shares) | 26,875 | 26,946 | 26,868 | 26,998 |
Diluted earnings per common share (in dollars per share) | $ 0.82 | $ 0.74 | $ 2.41 | $ 2.10 |