Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 31, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Document Transition Report | false | |
Entity File Number | 001-31220 | |
Entity Registrant Name | COMMUNITY TRUST BANCORP INC /KY/ | |
Entity Central Index Key | 0000350852 | |
Entity Incorporation, State or Country Code | KY | |
Entity Tax Identification Number | 61-0979818 | |
Entity Address, Address Line One | 346 North Mayo Trail | |
Entity Address, Address Line Two | P.O. Box 2947 | |
Entity Address, City or Town | Pikeville | |
Entity Address, State or Province | KY | |
Entity Address, Postal Zip Code | 41502 | |
City Area Code | 606 | |
Local Phone Number | 432-1414 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | CTBI | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 17,991,419 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets: | ||
Cash and due from banks | $ 48,915 | $ 51,306 |
Interest bearing deposits | 57,630 | 77,380 |
Federal funds sold | 3,000 | 0 |
Cash and cash equivalents | 109,545 | 128,686 |
Certificates of deposit in other banks | 245 | 245 |
Debt securities available-for-sale at fair value (amortized cost of $1,362,748 and $1,430,605, respectively) | 1,201,253 | 1,256,226 |
Equity securities at fair value | 2,545 | 2,166 |
Loans held for sale | 238 | 109 |
Loans | 3,929,695 | 3,709,290 |
Allowance for credit losses | (48,018) | (45,981) |
Net loans | 3,881,677 | 3,663,309 |
Premises and equipment, net | 42,911 | 42,633 |
Operating right-of-use assets | 13,476 | 13,809 |
Finance right-of-use assets | 3,202 | 3,262 |
Federal Home Loan Bank stock | 6,545 | 6,676 |
Federal Reserve Bank stock | 4,887 | 4,887 |
Goodwill | 65,490 | 65,490 |
Bank owned life insurance | 93,775 | 92,746 |
Mortgage servicing rights | 8,230 | 8,468 |
Other real estate owned | 2,047 | 3,671 |
Deferred tax asset | 34,591 | 39,878 |
Accrued interest receivable | 20,257 | 19,592 |
Other assets | 29,884 | 28,463 |
Total assets | 5,520,798 | 5,380,316 |
Deposits: | ||
Noninterest bearing | 1,361,078 | 1,394,915 |
Interest bearing | 3,155,582 | 3,031,228 |
Total deposits | 4,516,660 | 4,426,143 |
Repurchase agreements | 229,020 | 215,431 |
Federal funds purchased | 500 | 500 |
Advances from Federal Home Loan Bank | 345 | 355 |
Long-term debt | 64,350 | 57,841 |
Operating lease liability | 13,843 | 14,160 |
Finance lease liability | 3,474 | 3,468 |
Accrued interest payable | 5,624 | 2,237 |
Other liabilities | 26,857 | 32,134 |
Total liabilities | 4,860,673 | 4,752,269 |
Shareholders' equity: | ||
Preferred stock, 300,000 shares authorized and unissued | 0 | 0 |
Common stock, $5.00 par value, shares authorized 25,000,000; shares issued and outstanding 2023 - 17,983,700; 2022 - 17,918,280 | 89,918 | 89,591 |
Capital surplus | 229,943 | 229,012 |
Retained earnings | 461,578 | 438,596 |
Accumulated other comprehensive loss, net of tax | (121,314) | (129,152) |
Total shareholders' equity | 660,125 | 628,047 |
Total liabilities and shareholders' equity | $ 5,520,798 | $ 5,380,316 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets: | ||
Debt securities available-for-sale at amortized cost | $ 1,362,748 | $ 1,430,605 |
Shareholders' equity: | ||
Preferred stock, shares authorized (in shares) | 300,000 | 300,000 |
Common stock, par value (in dollars per share) | $ 5 | $ 5 |
Common stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Common stock, shares issued (in shares) | 17,983,700 | 17,918,280 |
Common stock, shares outstanding (in shares) | 17,983,700 | 17,918,280 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Interest income: | ||||
Interest and fees on loans, including loans held for sale | $ 55,822 | $ 39,234 | $ 107,769 | $ 77,401 |
Interest and dividends on securities | ||||
Taxable | 6,811 | 4,944 | 13,569 | 9,328 |
Tax exempt | 669 | 752 | 1,351 | 1,524 |
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock | 172 | 134 | 346 | 248 |
Interest on Federal Reserve Bank deposits | 1,289 | 273 | 2,639 | 355 |
Other, including interest on federal funds sold | 64 | 15 | 148 | 23 |
Total interest income | 64,827 | 45,352 | 125,822 | 88,879 |
Interest expense: | ||||
Interest on deposits | 18,462 | 3,847 | 32,853 | 6,801 |
Interest on repurchase agreements and federal funds purchased | 2,190 | 336 | 3,806 | 590 |
Interest on advances from Federal Home Loan Bank | 7 | 1 | 50 | 1 |
Interest on long-term debt | 1,089 | 378 | 2,118 | 665 |
Total interest expense | 21,748 | 4,562 | 38,827 | 8,057 |
Net interest income | 43,079 | 40,790 | 86,995 | 80,822 |
Provision for credit losses | 2,009 | 77 | 3,125 | 952 |
Net interest income after provision for credit losses | 41,070 | 40,713 | 83,870 | 79,870 |
Noninterest income: | ||||
Deposit related fees | 7,513 | 7,263 | 14,800 | 14,009 |
Gains on sales of loans, net | 115 | 519 | 236 | 1,116 |
Trust and wealth management income | 3,351 | 3,198 | 6,430 | 6,446 |
Loan related fees | 1,197 | 1,415 | 2,042 | 3,477 |
Bank owned life insurance | 735 | 702 | 1,593 | 1,393 |
Brokerage revenue | 388 | 459 | 736 | 1,049 |
Securities gains (losses) | 165 | (225) | 383 | (126) |
Other noninterest income | 1,292 | 1,170 | 2,218 | 2,102 |
Total noninterest income | 14,756 | 14,501 | 28,438 | 29,466 |
Noninterest expense: | ||||
Officer salaries and employee benefits | 3,574 | 4,239 | 7,726 | 8,121 |
Other salaries and employee benefits | 14,731 | 14,295 | 29,487 | 27,951 |
Occupancy, net | 2,181 | 2,120 | 4,483 | 4,365 |
Equipment | 714 | 636 | 1,440 | 1,245 |
Data processing | 2,383 | 2,095 | 4,686 | 4,296 |
Bank franchise tax | 419 | 416 | 838 | 831 |
Legal fees | 381 | 348 | 649 | 649 |
Professional fees | 531 | 536 | 1,079 | 1,102 |
Advertising and marketing | 704 | 659 | 1,524 | 1,411 |
FDIC insurance | 610 | 358 | 1,216 | 713 |
Other real estate owned provision and expense | 61 | 43 | 180 | 396 |
Repossession expense | 98 | 131 | 329 | 231 |
Amortization of limited partnership investments | 598 | 747 | 1,195 | 1,480 |
Other noninterest expense | 4,040 | 3,355 | 8,083 | 6,546 |
Total noninterest expense | 31,025 | 29,978 | 62,915 | 59,337 |
Income before income taxes | 24,801 | 25,236 | 49,393 | 49,999 |
Income taxes | 5,397 | 4,965 | 10,676 | 10,000 |
Net income | 19,404 | 20,271 | 38,717 | 39,999 |
Unrealized holding gains (losses) on debt securities available-for-sale: | ||||
Unrealized holding gains (losses) arising during the period | (11,828) | (47,222) | 12,888 | (125,786) |
Less: Reclassification adjustments for realized gains included in net income | 0 | (1) | 4 | (1) |
Tax expense (benefit) | (2,951) | (12,277) | 5,046 | (32,704) |
Other comprehensive income (loss), net of tax | (8,877) | (34,944) | 7,838 | (93,081) |
Comprehensive income (loss) | $ 10,527 | $ (14,673) | $ 46,555 | $ (53,082) |
Basic earnings per share (in dollars per share) | $ 1.09 | $ 1.14 | $ 2.17 | $ 2.24 |
Diluted earnings per share (in dollars per share) | $ 1.08 | $ 1.14 | $ 2.16 | $ 2.24 |
Weighted average shares outstanding-basic (in shares) | 17,884 | 17,835 | 17,877 | 17,827 |
Weighted average shares outstanding-diluted (in shares) | 17,890 | 17,843 | 17,885 | 17,838 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss), Net of Tax [Member] | Total |
Balance at Dec. 31, 2021 | $ 89,215 | $ 227,085 | $ 386,750 | $ (4,848) | $ 698,202 |
Balance (in shares) at Dec. 31, 2021 | 17,843,081 | ||||
Increase (Decrease) in Stockholders' Equity [Roll forward] | |||||
Net income | 39,999 | 39,999 | |||
Other comprehensive income (loss) | (93,081) | (93,081) | |||
Cash dividends declared | (14,265) | (14,265) | |||
Issuance of common stock | $ 193 | 306 | 499 | ||
Issuance of common stock (in shares) | 38,566 | ||||
Issuance of restricted stock | $ 202 | (202) | 0 | ||
Issuance of restricted stock (in shares) | 40,438 | ||||
Vesting of restricted stock | $ (135) | 135 | 0 | ||
Vesting of restricted stock (in shares) | (26,904) | ||||
Stock-based compensation | 696 | 696 | |||
Balance at Jun. 30, 2022 | $ 89,475 | 228,020 | 412,484 | (97,929) | 632,050 |
Balance (in shares) at Jun. 30, 2022 | 17,895,181 | ||||
Balance at Mar. 31, 2022 | $ 89,420 | 227,589 | 399,347 | (62,985) | 653,371 |
Balance (in shares) at Mar. 31, 2022 | 17,884,106 | ||||
Increase (Decrease) in Stockholders' Equity [Roll forward] | |||||
Net income | 20,271 | 20,271 | |||
Other comprehensive income (loss) | (34,944) | (34,944) | |||
Cash dividends declared | (7,134) | (7,134) | |||
Issuance of common stock | $ 30 | 221 | 251 | ||
Issuance of common stock (in shares) | 6,075 | ||||
Issuance of restricted stock | $ 25 | (25) | 0 | ||
Issuance of restricted stock (in shares) | 5,000 | ||||
Stock-based compensation | 235 | 235 | |||
Balance at Jun. 30, 2022 | $ 89,475 | 228,020 | 412,484 | (97,929) | 632,050 |
Balance (in shares) at Jun. 30, 2022 | 17,895,181 | ||||
Balance at Dec. 31, 2022 | $ 89,591 | 229,012 | 438,596 | (129,152) | $ 628,047 |
Balance (in shares) at Dec. 31, 2022 | 17,918,280 | 17,918,280 | |||
Increase (Decrease) in Stockholders' Equity [Roll forward] | |||||
Net income | 38,717 | $ 38,717 | |||
Other comprehensive income (loss) | 7,838 | 7,838 | |||
Cash dividends declared | (15,735) | (15,735) | |||
Issuance of common stock | $ 174 | 384 | 558 | ||
Issuance of common stock (in shares) | 34,722 | ||||
Issuance of restricted stock | $ 264 | (264) | 0 | ||
Issuance of restricted stock (in shares) | 52,865 | ||||
Vesting of restricted stock | $ (107) | 107 | 0 | ||
Vesting of restricted stock (in shares) | (21,377) | ||||
Forfeiture of restricted stock | $ (4) | ||||
Forfeiture of restricted stock | 4 | 0 | |||
Forfeiture of restricted stock (in shares) | (790) | ||||
Stock-based compensation | 700 | 700 | |||
Balance at Jun. 30, 2023 | $ 89,918 | 229,943 | 461,578 | (121,314) | $ 660,125 |
Balance (in shares) at Jun. 30, 2023 | 17,983,700 | 17,983,700 | |||
Balance at Mar. 31, 2023 | $ 89,881 | 229,333 | 450,044 | (112,437) | $ 656,821 |
Balance (in shares) at Mar. 31, 2023 | 17,976,345 | ||||
Increase (Decrease) in Stockholders' Equity [Roll forward] | |||||
Net income | 19,404 | 19,404 | |||
Other comprehensive income (loss) | (8,877) | (8,877) | |||
Cash dividends declared | (7,870) | (7,870) | |||
Issuance of common stock | $ 43 | 237 | 280 | ||
Issuance of common stock (in shares) | 8,604 | ||||
Vesting of restricted stock | $ (6) | 6 | 0 | ||
Vesting of restricted stock (in shares) | (1,249) | ||||
Stock-based compensation | 367 | 367 | |||
Balance at Jun. 30, 2023 | $ 89,918 | $ 229,943 | $ 461,578 | $ (121,314) | $ 660,125 |
Balance (in shares) at Jun. 30, 2023 | 17,983,700 | 17,983,700 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Increase (Decrease) in Stockholders' Equity [Roll forward] | ||||
Dividends declared per share (in dollars per share) | $ 0.44 | $ 0.4 | $ 0.88 | $ 0.8 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Cash flows from operating activities: | |||||
Net income | $ 19,404 | $ 20,271 | $ 38,717 | $ 39,999 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Depreciation and amortization | 2,561 | 2,560 | |||
Deferred taxes | 242 | 306 | |||
Stock-based compensation | 788 | 742 | |||
Provision for credit losses | 2,009 | 77 | 3,125 | 952 | $ 4,905 |
Write-downs of other real estate owned and other repossessed assets | 106 | 269 | |||
Gains on sale of mortgage loans held for sale | (115) | (519) | (236) | (1,116) | |
Securities (gains)/losses | 1 | (4) | 1 | ||
Fair value adjustments in equity securities | (165) | 224 | (379) | 125 | |
Gains on sale of assets, net | (325) | (43) | |||
Proceeds from sale of mortgage loans held for sale | 9,098 | 49,301 | |||
Funding of mortgage loans held for sale | (8,991) | (46,489) | |||
Amortization of securities premiums and discounts, net | 1,454 | 3,341 | |||
Change in cash surrender value of bank owned life insurance | (1,029) | (878) | |||
Changes in lease liabilities | (678) | (894) | |||
Mortgage servicing rights: | |||||
Fair value adjustments | 334 | (994) | |||
New servicing assets created | (96) | (452) | |||
Changes in: | |||||
Accrued interest receivable | (665) | (386) | |||
Other assets | (1,421) | (154) | |||
Accrued interest payable | 3,387 | 847 | |||
Other liabilities | (5,364) | (855) | |||
Net cash provided by operating activities | 40,624 | 46,182 | |||
Securities available-for-sale (AFS): | |||||
Purchase of AFS securities | (8,820) | (178,054) | |||
Proceeds from sales of AFS securities | 18,561 | 0 | |||
Proceeds from prepayments, calls, and maturities of AFS securities | 56,666 | 102,230 | |||
Change in loans, net | (220,647) | (149,504) | |||
Purchase of premises and equipment | (2,081) | (2,262) | |||
Proceeds from sale and retirement of premises and equipment | 296 | 0 | |||
Proceeds from sale of stock by Federal Home Loan Bank | 131 | 0 | |||
Proceeds from sale of other real estate owned and repossessed assets | 739 | 888 | |||
Additional investment in other real estate owned and repossessed assets | (40) | (73) | |||
Proceeds from settlement of bank owned life insurance | 0 | 1 | |||
Net cash used in investing activities | (155,195) | (226,774) | |||
Cash flows from financing activities: | |||||
Change in deposits, net | 90,517 | 128,636 | |||
Change in repurchase agreements and federal funds purchased, net | 13,589 | (32,355) | |||
Proceeds from Federal Home Loan Bank advances | 100,000 | 20,000 | |||
Payments on advances from Federal Home Loan Bank | (100,010) | (20,010) | |||
Payment of finance lease liabilities | 0 | (12) | |||
Proceeds from long-term debt/other borrowings | 6,563 | 0 | |||
Repayment of long-term debt/other borrowings | (54) | 0 | |||
Issuance of common stock | 558 | 499 | |||
Dividends paid | (15,733) | (14,256) | |||
Net cash provided by financing activities | 95,430 | 82,502 | |||
Net decrease in cash and cash equivalents | (19,141) | (98,090) | |||
Cash and cash equivalents at beginning of period | 128,686 | 311,756 | 311,756 | ||
Cash and cash equivalents at end of period | $ 109,545 | $ 213,666 | 109,545 | 213,666 | $ 128,686 |
Supplemental disclosures: | |||||
Income taxes paid | 12,308 | 8,710 | |||
Interest paid | 35,440 | 7,210 | |||
Non-cash activities: | |||||
Loans to facilitate the sale of other real estate owned and repossessed assets | 1,022 | 935 | |||
Common stock dividends accrued, paid in subsequent quarter | 281 | 257 | |||
Real estate acquired in settlement of loans | 175 | 444 | |||
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 364 | $ 405 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 1 - Summary of Significant Accounting Policies In the opinion of management, the unaudited condensed consolidated financial statements include all adjustments (which consist of normal recurring adjustments) necessary, to present fairly the condensed consolidated financial position as of June 30, 2023, the results of operations, other comprehensive income (loss), and changes in shareholders’ equity for the three and six months ended June 30, 2023 and 2022 and the cash flows for the six months ended June 30, 2023 and 2022. In accordance with accounting principles generally accepted in the United States of America for interim financial information, these statements do not include certain information and footnote disclosures required by accounting principles generally accepted in the United States of America for complete annual financial statements. The results of operations, other comprehensive income (loss), and changes in shareholders’ equity for the three and six months ended June 30, 2023 and 2022 and the cash flows for the six months ended June 30, 2023 and 2022 are not necessarily indicative of the results to be expected for the full year. The condensed consolidated balance sheet as of December 31, 2022 has been derived from the audited consolidated financial statements of Community Trust Bancorp, Inc. (“CTBI”) for that period. For further information, refer to the consolidated financial statements and footnotes thereto for the year ended December 31, 2022, included in our annual report on Form 10-K. Principles of Consolidation – New Accounting Standards ➢ Facilitation of the Effects of Reference Rate Reform on Financial Reporting In December 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 , Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , ➢ Troubled Debt Restructurings and Vintage Disclosures Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures he amendments in this ASU eliminate the accounting guidance for troubled debt restructurings (“TDRs”) by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors Financial Instruments—Credit Losses—Measured at Amortized Cost have been implemented and did not have a significant impact to our consolidated financial statements. ➢ Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions Fair Value Measurement Topic 820: Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions to Fair Value Measurement We do not anticipate a significant impact to our consolidated financial statements. ➢ FASB Improves the Accounting for Investments in Tax Credit Structures – The FASB issued, ASU No. 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method , Significant Accounting Policies – The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the appropriate application of certain accounting policies, many of which require us to make estimates and assumptions about future events and their impact on amounts reported in our consolidated financial statements and related notes. Since future events and their impact cannot be determined with certainty, the actual results will inevitably differ from our estimates. Such differences could be material to our consolidated financial statements. We believe the application of accounting policies and the estimates required therein are reasonable. These accounting policies and estimates are constantly reevaluated, and adjustments are made when facts and circumstances dictate a change. Historically, we have found our application of accounting policies to be appropriate, and actual results have not differed materially from those determined using necessary estimates. We have identified the following significant accounting policies: ➢ FASB Investments – Debt Securities a. Trading securities . . b. Available-for-sale securities. Investments not classified as trading securities (nor as HTM securities) shall be classified as available-for-sale (“AFS”) securities. We do not have any securities that are classified as trading securities. AFS securities are reported at fair value, with unrealized gains and losses included as a separate component of shareholders’ equity, net of tax. If declines in fair value are other than temporary, the carrying value of the securities is written down to fair value as a realized loss with a charge to income for the portion attributable to credit losses and a charge to other comprehensive income for the portion that is not credit related. For AFS debt securities in an unrealized loss position, we evaluate the securities to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or non-credit related factors. Any impairment that is not credit-related is recognized in accumulated other comprehensive income, net of tax. Credit-related impairment is recognized as an allowance for credit losses (“ACL”) for AFS debt securities on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Accrued interest receivable on AFS debt securities is excluded from the estimate of credit losses. Both the ACL for AFS debt securities and the adjustment to net income may be reversed if conditions change. However, if we intend to sell an impaired AFS debt security or more likely than not will be required to sell such a security before recovering its amortized cost basis, the entire impairment amount would be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis. Because the security’s amortized cost basis is adjusted to fair value, there is no ACL for AFS debt securities in this situation. In evaluating AFS debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, we consider the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers’ financial condition, among other factors. There were no credit related factors underlying unrealized losses on AFS debt securities at June 30, 2023 and December 31, 2022, therefore, no ACL for AFS securities was recorded. Changes in the ACL for AFS debt securities are recorded as expense. Losses are charged against the ACL for AFS debt securities when management believes the uncollectability of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Gains or losses on disposition of debt securities are computed by specific identification for those securities. Interest and dividend income, adjusted by amortization of purchase premium or discount, is included in earnings. HTM securities are subject to an allowance for lifetime expected credit losses, determined by adjusting historical loss information for current conditions and reasonable and supportable forecasts. The forward-looking evaluation of lifetime expected losses will be performed on a pooled basis for debt securities that share similar risk characteristics. These allowances for expected losses must be made by the holder of the HTM debt security when the security is purchased. At June 30, 2023 and 2022, CTBI held no securities designated as HTM. CTBI accounts for equity securities in accordance with ASC 321, Investments – Equity Securities Equity securities with a readily determinable fair value are required to be measured at fair value, with changes in fair value recognized in net income. Equity securities without a readily determinable fair value are carried at cost, less any impairment, if any, plus or minus changes resulting from observable price changes for identical or similar investments. As permitted by ASC 321-10-35-2, CTBI can make an irrevocable election to subsequently measure an equity security without a readily determinable fair value, and all identical or similar investments of the same issuer, including future purchases of identical or similar investments of the same issuer, at fair value. CTBI has made this election for our Visa Class B equity securities. The fair value of these securities was determined by a third party service provider using Level 3 inputs as defined in ASC 820, Fair Value Measurement ➢ With the implementation of ASU 2022-02 described above in the New Accountings Standards, TDRs have been eliminated while enhanced disclosure requirements have been implemented for certain loan modifications when a borrower is experiencing financial difficulty. Loan origination and commitment fees and certain direct loan origination costs are deferred and the net amount amortized over the estimated life of the related loans, or commitments as a yield adjustment. ➢ In the event that collection of principal becomes uncertain, CTBI has policies in place to reverse accrued interest in a timely manner. Therefore, CTBI elected ASU We maintain an ACL at a level that is appropriate to cover estimated credit losses on individually evaluated loans, as well as estimated credit losses inherent in the remainder of the loan and lease portfolio. Credit losses are charged and recoveries are credited to the ACL. We utilize an internal risk grading system for commercial credits. Those credits that meet the following criteria are subject to individual evaluation: the loan has an outstanding bank share balance of $1 million or greater and has a criticized risk rating and meets one of the following criteria: (i) is in nonaccrual status, (ii) the borrower is experiencing financial difficulty with significant payment delay Homogenous loans, such as consumer installment, residential mortgages, and home equity lines are not individually risk graded. The associated ACL for these loans is measured in pools with similar risk characteristics under ASC 326. When any secured commercial loan is considered uncollectable, whether past due or not, a current assessment of the value of the underlying collateral is made. If the balance of the loan exceeds the fair value of the collateral, the loan is placed on nonaccrual and the loan is charged down to the value of the collateral less estimated cost to sell. For commercial loans greater than $ that are categorized as individually evaluated based on the criteria listed above , When the foreclosed collateral has been legally assigned to CTBI, the estimated fair value of the collateral less costs to sell is then transferred to other real estate owned or other repossessed assets, and a charge-off is taken for any remaining balance. When any unsecured commercial loan is considered uncollectable the loan is charged off no later than at past due. All closed-end consumer loans (excluding conventional 1-4 family residential loans and installment and revolving loans secured by real estate) are charged off no later than 120 days (five monthly payments) delinquent. If a loan is considered uncollectable, it is charged off earlier than 120 days delinquent. For conventional 1-4 family residential loans and installment and revolving loans secured by real estate, when a loan is 90 days past due, a current assessment of the value of the real estate is made. If the balance of the loan exceeds the fair value of the property, the loan is placed on nonaccrual. Foreclosure proceedings are normally initiated after 120 days. When the foreclosed property has been legally assigned to CTBI, the fair value less estimated costs to sell is transferred to other real estate owned and the remaining balance is taken as a charge-off. Prior During the quarter ended June 30, 2023, CTBI implemented third party software and the determination was made to utilize discounted cash flow loss rate methodologies for all loan segments. Within the discount cash flow calculation, an effective yield of the instrument is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows, modeled considering probability of default (PD) and segment-specific loss given default (LGD) risk factors, are then discounted at that effective yield to produce an instrument-level net present value (NPV) of expected cash flows. An allowance for credit loss is established for the difference between the instrument’s NPV and amortized cost basis. Any changes in NPV between periods is recorded as provision for credit losses. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on historical internal data and adjusted, if necessary, based on the reasonable and supportable forecast of economic conditions. Management incorporates qualitative factors to loss estimates used to derive CTBI’s total ACL including delinquency trends, current economic conditions and trends, strength of supervision and administration of the loan portfolio, levels of underperforming loans, and underwriting exceptions. Forecast factors were expanded to include gross domestic product, retail and food service sales, and S&P/Case-Shiller US National Home Price Index, while industry concentrations was added as a qualitative factor. Management continually reevaluates the other subjective factors included in our ACL analysis. ➢ – We evaluate total goodwill and core deposit intangible for impairment, based upon ASC 350, Intangibles-Goodwill and Other, using fair value techniques including multiples of price/equity. Goodwill and core deposit intangible are evaluated for impairment on an annual basis or as other events may warrant. The balance of goodwill, at $65.5 million, has not changed since January 1, 2015. ➢ During the six months ended June 30, 2023 and 2022, CTBI has not recognized a significant amount of interest expense or penalties in connection with income taxes. ➢ Estimated Credit Losses on Off-Balance Sheet Credit Exposures Recognized as Other Liabilitie . |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2023 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | Note 2 – Stock-Based Compensation Restricted stock expense for the three and six months ended June 30, 2023 was $411 thousand and $788 thousand, respectively, including $44 thousand and $88 thousand, respectively, respectively, ghted average period of 3.4 years. There were no shares of restricted stock granted during the three months ended June 30, 2023, but there were 5,000 shares of restricted stock granted during the three months ended June 30, 2022. There were 52,865 and 40,438 shares of restricted stock granted during the six months ended June 30, 2023 and 2022, respectively. The restricted stock was issued pursuant to the terms of CTBI’s 2015 Stock Ownership Incentive Plan. There were no shares of restricted stock forfeited during the three months ended June 30, 2023, but there were 790 shares of restricted stock forfeited during the six months ended June 30, 2023. No shares were forfeited during the three and six months ended June 30, 2022. There was compensation expense related to stock option grants for the three and six months ended June 30, 2023 and 2022. As of June 30, 2023, there was no unrecognized compensation expense related to unvested stock option awards, as all stock option awards have fully vested. There were stock options granted in the |
Securities
Securities | 6 Months Ended |
Jun. 30, 2023 | |
Securities [Abstract] | |
Securities | Note 3 – Securities Debt securities are classified into HTM and AFS categories. HTM securities are those that CTBI has the positive intent and ability to hold to maturity and are reported at amortized cost. AFS securities are those that CTBI may decide to sell if needed for liquidity, asset-liability management or other reasons. AFS securities are reported at fair value, with unrealized gains or losses included as a separate component of equity, net of tax. As of June 30, 2023 and December 31, 2022, CTBI had no HTM securities. The amortized cost and fair value of debt securities at June 30, 2023 are summarized as follows: Available-for-Sale (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury and government agencies $ 400,148 $ 143 $ (34,897 ) $ 365,394 State and political subdivisions 314,048 2 (54,225 ) 259,825 U.S. government sponsored agency mortgage-backed securities 558,964 1 (71,066 ) 487,899 Asset-backed securities 89,588 0 (1,453 ) 88,135 Total available-for-sale securities $ 1,362,748 $ 146 $ (161,641 ) $ 1,201,253 The amortized cost and fair value of debt securities at December 31, 2022 are summarized as follows: Available-for-Sale (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury and government agencies $ 418,579 $ 212 $ (36,859 ) $ 381,932 State and political subdivisions 326,746 32 (61,676 ) 265,102 U.S. government sponsored agency mortgage-backed securities 593,917 1 (73,833 ) 520,085 Asset-backed securities 91,363 0 (2,256 ) 89,107 Total available-for-sale securities $ 1,430,605 $ 245 $ (174,624 ) $ 1,256,226 The amortized cost and fair value of debt securities at June 30 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Available-for-Sale (in thousands) Amortized Cost Fair Value Due in one year or less $ 33,089 $ 32,613 Due after one through five years 336,248 305,693 Due after five through ten years 169,173 145,760 Due after ten years 175,686 141,153 U.S. government sponsored agency mortgage-backed securities 558,964 487,899 Asset-backed securities 89,588 88,135 Total debt securities $ 1,362,748 $ 1,201,253 During the three months ended June 30, 2023, we had an unrealized gain of $165 thousand from the fair value adjustment of equity securities. During the three months ended June 30, 2022, we had a net securities loss of $225 thousand, consisting of a pre-tax loss of $1 thousand realized on calls of AFS securities and an unrealized loss of $224 thousand from the fair value adjustment of equity securities. During the six months ended June 30, 2023, we had a net securities gain of $383 thousand, consisting of a pre-tax gain of $4 thousand realized on sales and calls of AFS securities and an unrealized gain of $379 thousand from the fair value adjustment of equity securities. During the six months ended June 30, 2022, we had a net securities loss of $126 thousand, consisting of a pre-tax loss of $1 thousand realized on calls of AFS securities and an unrealized loss of $125 thousand from the fair value adjustment of equity securities. Equity Securities at Fair Value CTBI made the election permitted by ASC - - - to record its Visa Class B shares at fair value. Equity securities at fair value as of June 30, 2023 were , as a result of a increase in the fair value in the second quarter The fair value of equity securities decreased in the second quarter equity securities were sold during the six months ended June 30, 2023 The amortized cost of securities pledged as collateral, to secure public deposits and for other purposes, was at June 30, 2023 at December The amortized cost of securities sold under agreements to repurchase amounted to at June 30, 2023 at December CTBI evaluates its investment portfolio on a quarterly basis for impairment. The analysis performed as of June 30, 2023 of total debt securities with unrealized losses as of June 30, 2023 compared to as of December The following table provides the amortized cost, gross unrealized losses, and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of June 30, 2023 June 30, 2023 Available-for-Sale (in thousands) Amortized Cost Gross Unrealized Losses Fair Value Less Than 12 Months U.S. Treasury and government agencies $ 7,188 $ (10 ) $ 7,178 State and political subdivisions 34,386 (1,493 ) 32,893 U.S. government sponsored agency mortgage-backed securities 51,640 (1,806 ) 49,834 Asset-backed securities 0 0 0 Total <12 months temporarily impaired AFS securities 93,214 (3,309 ) 89,905 12 Months or More U.S. Treasury and government agencies 380,143 (34,887 ) 345,256 State and political subdivisions 277,291 (52,732 ) 224,559 U.S. government sponsored agency mortgage-backed securities 507,278 (69,260 ) 438,018 Asset-backed securities 89,588 (1,453 ) 88,135 Total ≥12 months temporarily impaired AFS securities 1,254,300 (158,332 ) 1,095,968 Total U.S. Treasury and government agencies 387,331 (34,897 ) 352,434 State and political subdivisions 311,677 (54,225 ) 257,452 U.S. government sponsored agency mortgage-backed securities 558,918 (71,066 ) 487,852 Asset-backed securities 89,588 (1,453 ) 88,135 Total temporarily impaired AFS securities $ 1,347,514 $ (161,641 ) $ 1,185,873 The analysis performed as of December indicated that all impairment was considered temporary, market and interest rate driven, and not credit-related. The following table provides the amortized cost, gross unrealized losses, and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December that are not deemed to be other-than-temporarily impaired. As stated above, CTBI had no HTM securities as of December 31, 2022. Available-for-Sale (in thousands) Amortized Cost Gross Unrealized Losses Fair Value Less Than 12 Months U.S. Treasury and government agencies $ 144,305 $ (6,953 ) $ 137,352 State and political subdivisions 94,277 (6,257 ) 88,020 U.S. government sponsored agency mortgage-backed securities 139,314 (6,883 ) 132,431 Asset-backed securities 38,882 (1,231 ) 37,651 Total <12 months temporarily impaired AFS securities 416,778 (21,324 ) 395,454 12 Months or More U.S. Treasury and government agencies 249,424 (29,906 ) 219,518 State and political subdivisions 225,019 (55,419 ) 169,600 U.S. government sponsored agency mortgage-backed securities 454,357 (66,950 ) 387,407 Asset-backed securities 52,480 (1,025 ) 51,455 Total ≥12 months temporarily impaired AFS securities 981,280 (153,300 ) 827,980 Total U.S. Treasury and government agencies 393,729 (36,859 ) 356,870 State and political subdivisions 319,296 (61,676 ) 257,620 U.S. government sponsored agency mortgage-backed securities 593,671 (73,833 ) 519,838 Asset-backed securities 91,362 (2,256 ) 89,106 Total temporarily impaired AFS securities $ 1,398,058 $ (174,624 ) $ 1,223,434 U.S. Treasury and Government Agencies The unrealized losses in U.S. Treasury and government agencies were caused by interest rate changes. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than par which will equal amortized cost at maturity. CTBI does not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost. State and Political Subdivisions The unrealized losses in securities of state and political subdivisions were caused by interest rate changes. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than par which will equal amortized cost at maturity. CTBI does not intend to sell the investments before recovery of their amortized cost and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost. U.S. Government Sponsored Agency Mortgage-Backed Securities The unrealized losses in U.S. government sponsored agency mortgage-backed securities were caused by interest rate changes. CTBI expects to recover the amortized cost basis over the term of the securities. CTBI does not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost. Asset-Backed Securities The unrealized losses in asset-backed securities were caused by interest rate changes. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than par which will equal amortized cost at maturity. CTBI does not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2023 | |
Loans [Abstract] | |
Loans | Note 4 – Loans Major classifications of loans, net of unearned income, deferred loan origination costs and fees, and net premiums on acquired loans, are summarized as follows: (in thousands) June 30 2023 December 31 2022 Hotel/motel $ 372,981 $ 343,640 Commercial real estate residential 393,309 372,914 Commercial real estate nonresidential 787,598 762,349 Dealer floorplans 76,903 77,533 Commercial other 319,838 312,422 Commercial loans 1,950,629 1,868,858 Real estate mortgage 883,104 824,996 Home equity lines 132,033 120,540 Residential loans 1,015,137 945,536 Consumer direct 157,848 157,504 Consumer indirect 806,081 737,392 Consumer loans 963,929 894,896 Loans and lease financing $ 3,929,695 $ 3,709,290 The loan portfolios presented above are net of unearned fees and unamortized premiums. Unearned fees included above totaled $ million as of June 30, 2023 and as of December 31, 2022, while the unamortized premiums on the indirect lending portfolio totaled $ million as of June 30, 2023 and $ million as of December 31, 2022 CTBI has segregated and evaluates our loan portfolio through nine portfolio segments with similar risk characteristics. CTBI serves customers in small and mid-sized communities in eastern, northeastern, central, and south central Kentucky, southern West Virginia, and northeastern Tennessee. Therefore, CTBI’s exposure to credit risk is significantly affected by changes in these communities. Hotel/motel loans are a significant concentration for CTBI, representing approximately of total loans. This industry has unique risk characteristics as it is highly susceptible to changes in the domestic and global economic environments, which can cause the industry to experience substantial volatility. Additionally, any hotel/motel construction loans would be included in this segment as CTBI’s construction loans are primarily completed as loan going from construction to permanent financing. These loans are originated based on the borrower’s ability to service the debt and arily based on the fair value of the underlying collateral. Commercial real estate residential loans are commercial purpose construction and permanent financed loans for commercial purpose - family/multi-family properties. These loans are originated based on the borrower’s ability to service the debt and arily based on the fair value of the underlying collateral. Commercial real estate nonresidential loans are secured by nonfarm, nonresidential properties, farmland, and other commercial real estate. These loans are originated based on the borrower’s ability to service the debt and arily based on the fair value of the underlying collateral. Construction for commercial real estate nonresidential loans are also included in this segment as these loans are generally loan for construction to permanent financing. Dealer floorplans consist of loans to dealerships to finance inventory and are collateralized under a blanket security agreement and without specific liens on individual units. This risk is mitigated by the use of periodic inventory audits. These audits are performed monthly and follow up is required on any out of compliance items identified. These audits are subject to increasing frequency when fact patterns suggest more scrutiny is required. Commercial other loans consist of agricultural loans, receivable financing, loans to financial institutions, loans for purchasing or carrying securities, and other commercial purpose loans. Commercial loans are underwritten based on the borrower’s ability to service debt from the business’s underlying cash flows. As a general practice, we obtain collateral such as equipment, or other assets, although such loans may be uncollateralized but guaranteed. Residential real estate loans are a mixture of fixed rate and adjustable rate first and second lien residential mortgage loans and also include real estate construction loans which are typically for owner-occupied properties. The terms of the real estate construction loans are generally short-term with permanent financing upon completion. As a policy, CTBI holds adjustable rate loans and sells the majority of our fixed rate first lien mortgage loans into the secondary market. Changes in interest rates or market conditions may impact a borrower’s ability to meet contractual principal and interest payments. Residential real estate loans are secured by real property. Home equity lines are primarily revolving adjustable rate credit lines secured by real property. Consumer direct loans are a mixture of fixed rate and adjustable rate products comprised of unsecured loans, consumer revolving credit lines, deposit secured loans, and all other consumer purpose loans. Consumer indirect loans are primarily fixed rate consumer loans secured by automobiles, trucks, vans, and recreational vehicles originated at the selling dealership underwritten and purchased by CTBI’s indirect lending department. Both new and used products are financed. Only dealers who have executed dealer agreements with CTBI participate in the indirect lending program. Not included in the loan balances above were loans held for sale in the amount of $0.2 million at June For periods ended June 30, 2022 and December 31, 2022, CTBI derived our ACL balance by using vintage modeling for the consumer and residential portfolios. Static pool models incorporating losses by credit risk rating were developed to determine credit loss balances for the commercial loan segments. Qualitative loss factors were based on CTBI’s judgment of delinquency trends, level of nonperforming loans, trend in loan losses, supervision and administration, quality control exceptions, and reasonable and supportable forecasts based on unemployment rates and industry concentrations. CTBI determined that twelve months represented a reasonable and supportable forecast period and reverted back to a historical loss rate immediately. CTBI leveraged economic projections from a reputable and independent third party to form its loss driver forecasts over the twelve-month forecast period. Other internal and external indicators of economic forecasts were also considered by CTBI when developing the forecast metrics. CTBI also had an inherent model risk allocation included in our ACL calculation to allow for certain known model limitations as well as other potential risks not quantified elsewhere. One limitation was the inability to completely identify revolving line of credit within the commercial other segment. During the quarter ended June 30, 2023, CTBI implemented third party software for its ACL calculations. During the implementation process, discounted cash flow modeling was chosen for all loan segments. The primary reasons that contributed to this decision were: Discounted cash flow (“DCF”) models allow for the effective incorporation of a reasonable and supportable forecast in a directionally consistent and objective manner; the analysis aligns well with other calculations outside of the ACL estimation which will mitigate model risk in other areas; and peer data is available for certain inputs if first -party data is not available or meaningful. This change in modeling resulted in a shift in our reserve estimates as of June 30, 2023 as presented below: (in thousands) ACL Software June 30, 2023 CTBI Internal ACL Model June 30, 2023 Change in Allocation Hotel/motel $ 5,192 $ 6,038 $ (846 ) Commercial real estate residential 3,749 4,669 (920 ) Commercial real estate nonresidential 7,797 8,794 (997 ) Dealer floorplans 1,157 1,719 (562 ) Commercial other 6,176 4,547 1,629 Commercial loans reserve allocation 24,071 25,767 (1,696 ) Real estate mortgage 7,884 8,443 (559 ) Home equity lines 1,108 1,065 43 Residential loans reserve allocation 8,992 9,508 (516 ) Consumer direct 2,563 1,673 890 Consumer indirect 12,392 10,959 1,433 Consumer loans reserve allocation 14,955 12,632 2,323 Loans and lease financing allowance for credit loss $ 48,018 47,907 $ 111 This change in reserve estimates is related to life of loan and how it functions in a cash flow methodology versus the loss rate methodology previously used as consumer loans generally have longer lives than commercial loans. Although commercial loans may estimate more probability of default/loss given default compared to consumer loans, their shorter exposures will yield lower reserves. Additionally, there was a change in how some of the qualitative factors were applied using the new software with a switch from a geographical approach to a loan segment approach. The following tables present the balance in the ACL for the periods ended June 30, 2023, December 31, 2022, and June 30, 2022 Three Months Ended June 30, 2023 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending Balance ACL Hotel/motel $ 5,287 $ (95 ) $ 0 $ 0 $ 5,192 Commercial real estate residential 5,157 (1,384 ) (28 ) 4 3,749 Commercial real estate nonresidential 9,010 (1,393 ) (9 ) 189 7,797 Dealer floorplans 1,694 (537 ) 0 0 1,157 Commercial other 4,782 2,387 (1,073 ) 80 6,176 Real estate mortgage 7,917 10 (55 ) 12 7,884 Home equity 1,044 76 (13 ) 1 1,108 Consumer direct 1,746 807 (82 ) 92 2,563 Consumer indirect 10,046 2,138 (693 ) 901 12,392 Total $ 46,683 $ 2,009 $ (1,953 ) $ 1,279 $ 48,018 Six Months Ended June 30, 2023 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending Balance ACL Hotel/motel $ 5,171 $ 21 $ 0 $ 0 $ 5,192 Commercial real estate residential 4,894 (1,198 ) (28 ) 81 3,749 Commercial real estate nonresidential 9,419 (1,946 ) (9 ) 333 7,797 Dealer floorplans 1,776 (619 ) 0 0 1,157 Commercial other 5,285 1,971 (1,260 ) 180 6,176 Real estate mortgage 7,932 31 (95 ) 16 7,884 Home equity 1,106 12 (13 ) 3 1,108 Consumer direct 1,694 912 (238 ) 195 2,563 Consumer indirect 8,704 3,941 (2,075 ) 1,822 12,392 Total $ 45,981 $ 3,125 $ (3,718 ) $ 2,630 $ 48,018 Year Ended December 31, 2022 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending Balance ACL Hotel/motel $ 5,080 $ 307 $ (216 ) $ 0 $ 5,171 Commercial real estate residential 3,986 951 (92 ) 49 4,894 Commercial real estate nonresidential 8,884 (154 ) (46 ) 735 9,419 Dealer floorplans 1,436 340 0 0 1,776 Commercial other 4,422 947 (1,082 ) 998 5,285 Real estate mortgage 7,637 466 (223 ) 52 7,932 Home equity 866 257 (37 ) 20 1,106 Consumer direct 1,951 (210 ) (609 ) 562 1,694 Consumer indirect 7,494 2,001 (3,041 ) 2,250 8,704 Total $ 41,756 $ 4,905 $ (5,346 ) $ 4,666 $ 45,981 Three Months Ended June 30, 2022 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending ACL Hotel/motel $ 4,711 $ 133 $ 0 $ 0 $ 4,844 Commercial real estate residential 4,070 124 0 6 4,200 Commercial real estate nonresidential 9,169 (223 ) 0 22 8,968 Dealer floorplans 1,519 (42 ) 0 0 1,477 Commercial other 4,844 (285 ) (187 ) 101 4,473 Real estate mortgage 7,662 586 (84 ) 15 8,179 Home equity 819 71 (5 ) 2 887 Consumer direct 1,787 (65 ) (175 ) 74 1,621 Consumer indirect 7,728 (222 ) (377 ) 566 7,695 Total $ 42,309 $ 77 $ (828 ) $ 786 $ 42,344 Six Months Ended June 30, 2022 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending Balance ACL Hotel/motel $ 5,080 $ (20 ) $ (216 ) $ 0 $ 4,844 Commercial real estate residential 3,986 234 (31 ) 11 4,200 Commercial real estate nonresidential 8,884 (49 ) 0 133 8,968 Dealer floorplans 1,436 41 0 0 1,477 Commercial other 4,422 193 (344 ) 202 4,473 Real estate mortgage 7,637 683 (177 ) 36 8,179 Home equity 866 38 (24 ) 7 887 Consumer direct 1,951 (245 ) (345 ) 260 1,621 Consumer indirect 7,494 77 (1,011 ) 1,135 7,695 Total $ 41,756 $ 952 $ (2,148 ) $ 1,784 $ 42,344 Using the ACL software, forecasts were expanded to include gross domestic product (GDP), retail sales and housing price index considerations. CTBI leverages economic projections from the Federal Open Market Committee to obtain various forecasts for unemployment rate and gross domestic product, the PNC forecast for the Case-Shiller National Home Price Index, and the Wells Fargo forecast for the Advanced Retail Sales. CTBI has elected to forecast the first four quarters of the credit loss estimate and revert to a long-run average of each considered economic factor as permitted in ASC 326-20-30-9 over four quarters. All periods during the reasonable and supportable forecast period are utilizing a forecasted probability of default. During the ACL software implementation, loss driver analysis was performed during which regression models were built relating default rates of the various segments to the economic factors noted above. Historical loss data for both CTBI and segment-specific selected peers was incorporated from FFIEC call report data. For loss given default, the Frye-Jacobs LGD estimation technique was utilized in the ACL software provided a risk curve that most approximates the asset class under consideration. Management elected to evaluate internal prepayment experience over a trailing timeframe to determine the appropriate prepayment and curtailment rates to be used in the credit loss estimate. CTBI continues to use management judgement for qualitative loss factors such as delinquency trends, supervision and administration, quality control exceptions, collateral values, and industry concentrations, although these factors are applied differently in the ACL software. The software allows management to approve a “worst case” scenario or a maximum loss rate for each segment. Qualitative dollars available for allocation then become the difference between the worst case and the ACL reserve estimate. Each factor is then given a risk weighting that is applied to determine a basis point allocation. The previous model only allowed for a specific basis point allocation determined by management. In addition to these factors, management has added risk factors related to changes in the nature and volume of the portfolio and terms of loans and changes in the experience, depth, and ability of lending management. The previous significant event factor has been expanded to reflect changes in international, national, regional and local conditions, as well as the effect of other external factors as noted below. The previous factors for inherent model risk and levels of nonperforming loans were not incorporated into the ACL software as separate qualitative factors. The revised qualitative loss factors are as follows: • Changes in delinquency trends by loan segment • Changes in international, national, regional, and local conditions • The effect of other external factors (i.e. competition, legal and regulatory requirements) on the level of estimated credit losses • The existence and effect of any concentrations of credit and changes in the levels of such concentrations • A supervision and administration allocation based on CTBI’s loan review process • Exceptions in lending policies and procedures as measured by quarterly loan portfolio exceptions reports • Changes in the nature and volume of the portfolio and terms of loans • Changes in the experience, depth, and ability of lending management Economic forecast factors utilized in the estimate improved quarter over quarter and the slight reduction in reserve requirements from 1.24% to 1.22% is reflective of this improvement. Management continues to note the continued impact of global uncertainty, the current rate of inflation, the significant rising rate environment, and the fact that there is no immediate end foreseen, and these conditions are now part of qualitative factors noted above. As in previous quarters an allocation was made for delinquency trends, industry concentrations, supervisory and administration, loan exceptions, and collateral values. Our provision for credit losses for the quarter increased $0.9 million from prior quarter and $1.9 million from prior year same quarter. Refer to Note 1 to the condensed consolidated financial statements for further information regarding our nonaccrual policy. Nonaccrual loans and loans 90 days past due and still accruing segregated by class of loans for both June 30, 2023 and December 31, 2022 were as follows: June 30, 2023 (in thousands) Nonaccrual Loans with No ACL Nonaccrual Loans with ACL 90+ and Still Accruing Total Nonperforming Loans Hotel/motel $ 0 $ 0 $ 0 $ 0 Commercial real estate residential 0 322 712 1,034 Commercial real estate nonresidential 0 982 300 1,282 Commercial other 0 753 277 1,030 Total commercial loans 0 2,057 1,289 3,346 Real estate mortgage 0 3,093 4,206 7,299 Home equity lines 0 195 459 654 Total residential loans 0 3,288 4,665 7,953 Consumer direct 0 0 6 6 Consumer indirect 0 0 439 439 Total consumer loans 0 0 445 445 Loans and lease financing $ 0 $ 5,345 $ 6,399 $ 11,744 December 31, 2022 (in thousands) Nonaccrual Loans with No ACL Nonaccrual Loans with ACL 90+ and Still Accruing Total Nonperforming Loans Hotel/motel $ 0 $ 0 $ 0 $ 0 Commercial real estate residential 0 355 258 613 Commercial real estate nonresidential 0 1,116 1,947 3,063 Commercial other 0 982 369 1,351 Total commercial loans 0 2,453 2,574 5,027 Real estate mortgage 0 4,069 4,929 8,998 Home equity lines 0 291 487 778 Total residential loans 0 4,360 5,416 9,776 Consumer direct 0 0 41 41 Consumer indirect 0 0 465 465 Total consumer loans 0 0 506 506 Loans and lease financing $ 0 $ 6,813 $ 8,496 $ 15,309 Discussion of the Nonaccrual Policy The accrual of interest income on loans is discontinued when management believes, after considering economic and business conditions, collateral value, and collection efforts, that the borrower’s financial condition is such that the collection of interest is doubtful. Cash payments received on nonaccrual loans generally are applied against principal, and interest income is only recorded once principal recovery is reasonably assured. Any loans greater than 90 days past due must be well secured and in the process of collection to continue accruing interest. See Note 1 to the condensed consolidated financial statements for further discussion on our nonaccrual policy. The following tables present CTBI’s loan portfolio aging analysis, segregated by class, as of June 30, 2023 and December 31, 2022 (includes loans 90 days past due and still accruing as well): June 30, 2023 (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total Past Due Current Total Loans Hotel/motel $ 0 $ 0 $ 0 $ 0 $ 372,981 $ 372,981 Commercial real estate residential 152 279 1,000 1,431 391,878 393,309 Commercial real estate nonresidential 1,101 110 940 2,151 785,447 787,598 Dealer floorplans 0 0 0 0 76,903 76,903 Commercial other 1,062 330 694 2,086 317,752 319,838 Total commercial loans 2,315 719 2,634 5,668 1,944,961 1,950,629 Real estate mortgage 1,440 2,528 6,220 10,188 872,916 883,104 Home equity lines 733 435 490 1,658 130,375 132,033 Total residential loans 2,173 2,963 6,710 11,846 1,003,291 1,015,137 Consumer direct 557 95 6 658 157,190 157,848 Consumer indirect 3,147 865 439 4,451 801,630 806,081 Total consumer loans 3,704 960 445 5,109 958,820 963,929 Loans and lease financing $ 8,192 $ 4,642 $ 9,789 $ 22,623 $ 3,907,072 $ 3,929,695 December 31, 2022 (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total Past Due Current Total Loans Hotel/motel $ 0 $ 0 $ 0 $ 0 $ 343,640 $ 343,640 Commercial real estate residential 602 225 574 1,401 371,513 372,914 Commercial real estate nonresidential 2,549 395 2,611 5,555 756,794 762,349 Dealer floorplans 0 0 0 0 77,533 77,533 Commercial other 1,029 850 496 2,375 310,047 312,422 Total commercial loans 4,180 1,470 3,681 9,331 1,859,527 1,868,858 Real estate mortgage 869 3,402 7,067 11,338 813,658 824,996 Home equity lines 786 44 740 1,570 118,970 120,540 Total residential loans 1,655 3,446 7,807 12,908 932,628 945,536 Consumer direct 555 126 41 722 156,782 157,504 Consumer indirect 4,407 764 465 5,636 731,756 737,392 Total consumer loans 4,962 890 506 6,358 888,538 894,896 Loans and lease financing $ 10,797 $ 5,806 $ 11,994 $ 28,597 $ 3,680,693 $ 3,709,290 The risk characteristics of CTBI’s material portfolio segments are as follows: Hotel/motel loans are a significant concentration for CTBI, representing approximately 9.5% of total loans. This industry has unique risk characteristics as it is highly susceptible to changes in the domestic and global economic environments, which can cause the industry to experience substantial volatility. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Hotel/motel lending typically involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Management monitors and evaluates all commercial real estate loans based on collateral and risk grade criteria. Commercial construction loans generally are made to customers for the purpose of building income-producing properties, and any hotel/motel construction loan would be included in this segment. Personal guarantees of the principals are generally required. Such loans are made on a projected cash flow basis and are secured by the project being constructed. Construction loan draw procedures are included in each specific loan agreement, including required documentation items and inspection requirements. Construction loans may convert to term loans at the end of the construction period, or may be repaid by the take-out commitment from another financing source. If the loan is to convert to a term loan, the repayment ability is based on the borrower’s projected cash flow. Risk is mitigated during the construction phase by requiring proper documentation and inspections whenever a draw is requested. Commercial real estate residential loans are commercial purpose construction and permanent financed loans for commercial purpose 1-4 family/multi-family properties. All commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Management monitors and evaluates all commercial real estate loans based on collateral and risk grade criteria. Commercial residential construction loans generally are made to customers for the purpose of building income-producing properties. Personal guarantees of the principals are generally required. Such loans are made on a projected cash flow basis and are secured by the project being constructed. Construction loan draw procedures are included in each specific loan agreement, including required documentation items and inspection requirements. Construction loans may convert to term loans at the end of the construction period, or may be repaid by the take-out commitment from another financing source. If the loan is to convert to a term loan, the repayment ability is based on the borrower’s projected cash flow. Risk is mitigated during the construction phase by requiring proper documentation and inspections whenever a draw is requested. Commercial real estate nonresidential loans are secured by nonfarm, nonresidential properties, farmland, and other commercial real estate. Construction for commercial real estate nonresidential loans are also included in this segment as these loans are generally one loan for construction to permanent financing. All commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Management monitors and evaluates all commercial real estate loans based on collateral and risk grade criteria. Commercial nonresidential construction loans generally are made to customers for the purpose of building income-producing properties. Personal guarantees of the principals are generally required. Such loans are made on a projected cash flow basis and are secured by the project being constructed. Construction loan draw procedures are included in each specific loan agreement, including required documentation items and inspection requirements. Construction loans may convert to term loans at the end of the construction period, or may be repaid by the take-out commitment from another financing source. If the loan is to convert to a term loan, the repayment ability is based on the borrower’s projected cash flow. Risk is mitigated during the construction phase by requiring proper documentation and inspections whenever a draw is requested. Dealer floorplans are segmented separately as they are a unique product with unique risk factors. CTBI maintains strict processing procedures over our floorplan product with any exceptions requested by a loan officer approved by the appropriate loan committee and the floorplan manager Commercial other loans are primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from our customers. As we underwrite our equipment lease financing in a manner similar to our commercial loan portfolio described below, the risk characteristics for this portfolio mirror that of the commercial loan portfolio. With respect to residential loans that are secured by 1-4 family residences and are generally owner occupied, CTBI generally establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. Home equity loans are typically secured by a subordinate interest in 1-4 family residences. Residential construction loans are handled through the home mortgage area of the bank. The repayment ability of the borrower and the maximum loan-to-value ratio are calculated using the normal mortgage lending criteria. Draws are processed based on percentage of completion stages including normal inspection procedures. Such loans generally convert to term loans after the completion of construction. Consumer loans are secured by consumer assets such as automobiles or recreational vehicles. Some consumer loans are unsecured such as small installment loans and certain lines of credit. Our determination of a borrower’s ability to repay these loans is primarily dependent on the personal income and credit rating of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in property values on residential properties. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers. The indirect lending area of the bank is generally responsible for purchasing/funding consumer contracts with new and used automobile dealers. Dealer loan applications are forwarded to the indirect loan processing area for approval or denial. Loan approvals or denials are based on the creditworthiness and repayment ability of the borrowers, and on the collateral value. The dealers may have limited recourse agreements with CTB. Credit Quality Indicators: CTBI categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. CTBI also considers the fair value of the underlying collateral and the strength and willingness of the guarantor(s). CTBI analyzes commercial loans individually by classifying the loans as to credit risk. Loans classified as loss, doubtful, substandard, or special mention are reviewed quarterly by CTBI for further deterioration or improvement to determine if appropriately classified and valued if deemed impaired. All other commercial loan reviews are completed every 12 to 18 months. In addition, during the renewal process of any loan, as well as if a loan becomes past due or if other information becomes available, CTBI will evaluate the loan grade. CTBI uses the following definitions for risk ratings: ➢ Pass ➢ Watch ➢ Other assets especially mentioned (OAEM) ➢ Substandard ➢ Doubtful The following tables present the credit risk profile of CTBI’s commercial loan portfolio based on rating category and payment activity, as well as gross charge-offs year to date, if any, segregated by class of loans and based on last credit decision or year of origination: June 30, 2023 Term Loans Amortized Cost Basis by Origination Year (in s) 2023 2022 2021 2020 2019 Prior Revolving Loans Total Hotel/motel Risk rating: Pass $ 38,210 $ 150,521 $ 28,454 $ 17,968 $ 47,039 $ 47,091 $ 4,043 $ 333,326 Watch 2,949 6,957 8,873 4,709 3,412 3,871 0 30,771 OAEM 0 0 6,971 0 0 1,913 0 8,884 Substandard 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 Total hotel/motel 41,159 157,478 44,298 22,677 50,451 52,875 4,043 372,981 Commercial real estate residential Risk rating: Pass 55,238 104,912 104,205 35,701 12,921 41,206 14,132 368,315 Watch 753 1,010 835 1,948 743 7,367 144 12,800 OAEM 0 0 0 0 0 65 0 65 Substandard 286 617 4,295 623 289 6,019 0 12,129 Doubtful 0 0 0 0 0 0 0 0 Total commercial real estate residential 56,277 106,539 109,335 38,272 13,953 54,657 14,276 393,309 Commercial real estate residential current period gross charge-offs 0 0 (28 ) 0 0 0 0 (28 ) Commercial real estate nonresidential Risk rating: Pass 81,927 153,561 152,539 79,949 66,557 166,883 25,508 726,924 Watch 300 3,966 6,499 9,716 7,618 6,710 711 35,520 OAEM 2,375 19 0 0 0 74 0 2,468 Substandard 1,370 1,439 2,522 4,543 3,096 9,701 0 22,671 Doubtful 0 0 0 0 0 15 0 15 Total commercial real estate nonresidential 85,972 158,985 161,560 94,208 77,271 183,383 26,219 787,598 Commercial real estate nonresidential current period gross charge-offs 0 0 0 (9 ) 0 0 0 (9 ) Dealer floorplans Risk rating: Pass 0 0 0 0 0 0 76,903 76,903 Watch 0 0 0 0 0 0 0 0 OAEM 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 Total dealer floorplans 0 0 0 0 0 0 76,903 76,903 Commercial other Risk rating: Pass 41,105 60,219 54,817 31,984 6,523 24,483 78,670 297,801 Watch 541 1,390 980 156 334 771 5,990 10,162 OAEM 0 30 0 0 0 0 30 60 Substandard 466 4,216 4,807 943 219 564 600 11,815 Doubtful 0 0 0 0 0 0 0 0 Total commercial other 42,112 65,855 60,604 33,083 7,076 25,818 85,290 319,838 Commercial other current period gross charge-offs (321 ) (632 ) (154 ) (17 ) (90 ) (46 ) 0 (1,260 ) Commercial loans Risk rating: Pass 216,480 469,213 340,015 165,602 133,040 279,663 199,256 1,803,269 Watch 4,543 13,323 17,187 16,529 12,107 18,719 6,845 89,253 OAEM 2,375 49 6,971 0 0 2,052 30 11,477 Substandard 2,122 6,272 11,624 6,109 3,604 16,284 600 46,615 Doubtful 0 0 0 0 0 15 0 15 Total commercial loans $ 225,520 $ 488,857 $ 375,797 $ 188,240 $ 148,751 $ 316,733 $ 206,731 $ 1,950,629 Total commercial loans current period gross charge-offs $ (321 ) $ (632 ) $ (182 ) $ (26 ) $ (90 ) $ (46 ) $ 0 $ (1,297 ) December 31, 2022 Term Loans Amortized Cost Basis by Origination Year (in s) 2022 2021 2020 2019 2018 Prior Revolving Loans Total Hotel/motel Risk rating: Pass $ 145,262 $ 36,002 $ 17,742 $ 54,328 $ 13,178 $ 35,179 $ 545 $ 302,236 Watch 7,921 8,996 5,523 3,453 0 13,555 0 39,448 OAEM 0 0 0 0 0 1,956 0 1,956 Substandard 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 Total hotel/motel 153,183 44,998 23,265 57,781 13,178 50,690 545 343,640 Commercial real estate residential Risk rating: Pass 119,826 110,963 38,423 15,467 10,492 36,307 14,297 345,775 Watch 1,474 898 1,675 848 2,136 7,015 152 14,198 OAEM 0 0 0 39 0 0 29 68 Substandard 182 4,289 1,878 346 3,639 2,539 0 12,873 Doubtful 0 0 0 0 0 0 0 0 Total commercial real estate residential 121,482 116,150 41,976 16,700 16,267 45,861 14,478 372,914 Commercial real estate nonresidential Risk rating: Pass 175,220 171,311 80,932 70,848 44,099 137,575 23,166 703,151 Watch 3,331 5,765 10,090 2,178 1,962 10,022 1,550 34,898 OAEM 19 0 0 0 0 90 0 109 Substandard 1,939 2,537 4,877 3,135 508 10,865 25 23,886 Doubtful 0 0 0 0 0 305 0 305 Total commercial real estate nonresidential 180,509 179,613 95,899 76,161 46,569 158,857 24,741 762,349 Dealer floorplans Risk rating: Pass 0 0 0 0 0 0 77,153 77,153 Watch 0 0 0 0 0 0 380 380 OAEM 0 0 0 0 0 0 0 0 Substandard 0 0 0 |
Other Real Estate Owned
Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2023 | |
Other Real Estate Owned [Abstract] | |
Other Real Estate Owned | Note 5 – Other Real Estate Owned Activity for other real estate owned was as follows: Three Months Ended Six Months Ended June 30 June 30 (in thousands) 2023 2022 2023 2022 Beginning balance of other real estate owned $ 2,776 $ 2,299 $ 3,671 $ 3,486 New assets acquired 124 307 175 444 Capitalized costs 40 73 40 73 Fair value adjustments (25 ) (23 ) (106 ) (269 ) Sale of assets (868 ) (702 ) (1,733 ) (1,780 ) Ending balance of other real estate owned $ 2,047 $ 1,954 $ 2,047 $ 1,954 Carrying costs and fair value adjustments associated with foreclosed properties for the three months ended June 30, 2023 and 2022 were Carrying costs and fair value adjustments associated with foreclosed properties for the six months ended June 30, 2023 and 2022 were and , respectively. The major classifications of foreclosed properties are shown in the following table: (in thousands) June 30 2023 December 31 2022 1-4 family $ 574 $ 859 Construction/land development/other 683 867 Non-farm/non-residential 790 1,945 Total foreclosed properties $ 2,047 $ 3,671 |
Repurchase Agreements
Repurchase Agreements | 6 Months Ended |
Jun. 30, 2023 | |
Repurchase Agreements [Abstract] | |
Repurchase Agreements | Note 6 – Repurchase Agreements We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and provide additional funding to our balance sheet. Repurchase agreements are transactions whereby we offer to sell to a counterparty an undivided interest in an eligible security at an agreed upon purchase price, and which obligates CTBI to repurchase the security on an agreed upon date at an agreed upon repurchase price plus interest at an agreed upon rate. Securities sold under agreements to repurchase are recorded at the amount of cash received in connection with the transaction and are reflected in the accompanying consolidated balance sheets. We monitor collateral levels on a continuous basis and maintain records of each transaction specifically describing the applicable security and the counterparty’s fractional interest in that security, and we segregate the security from its general assets in accordance with regulations governing custodial holdings of securities. The primary risk with our repurchase agreements is market risk associated with the securities securing the transactions, as we may be required to provide additional collateral based on fair value changes of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The carrying value of investment securities available-for-sale pledged as collateral under repurchase agreements totaled $300.3 million and $273.8 million at June 30, 2023 The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in the accompanying consolidated balance sheets as of June 30, 2023 is presented in the following tables: June 30, 2023 Remaining Contractual Maturity of the Agreements (in thousands) Overnight and Continuous Up to 30 days 30-90 days Greater Than 90 days Total Repurchase agreements and repurchase-to-maturity transactions: U.S. Treasury and government agencies $ 19,951 $ 2,000 $ 0 $ 22,608 $ 44,559 State and political subdivisions 99,257 1,391 0 7,898 108,546 U.S. government sponsored agency mortgage-backed securities 23,552 7,609 0 43,633 74,794 Asset-backed securities 1,121 0 0 0 1,121 Total $ 143,881 $ 11,000 $ 0 $ 74,139 $ 229,020 December 31, 2022 Remaining Contractual Maturity of the Agreements (in thousands) Overnight and Continuous Up to 30 days 30-90 days Greater Than 90 days Total Repurchase agreements and repurchase-to-maturity transactions: U.S. Treasury and government agencies $ 21,679 $ 34 $ 2,979 $ 1,832 $ 26,524 State and political subdivisions 96,627 466 9,634 2,140 108,867 U.S. government sponsored agency mortgage-backed securities 17,964 0 52,387 9,385 79,736 Asset-backed securities 304 0 0 0 304 Total $ 136,574 $ 500 $ 65,000 $ 13,357 $ 215,431 |
Fair Value of Financial Assets
Fair Value of Financial Assets and Liabilities | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value of Financial Assets and Liabilities [Abstract] | |
Fair Value of Financial Assets and Liabilities | Note 7 – Fair Value of Financial Assets and Liabilities Fair Value Measurements ASC 820, Fair Value Measurements Level 1 Inputs – Quoted prices in active markets for identical assets or liabilities. Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 Inputs – Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in determining an exit price for the assets or liabilities. Recurring Measurements The following tables present the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 and indicate the level within the fair value hierarchy of the valuation techniques. Fair Value Measurements at June 30, 2023 Using (in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured – recurring basis Available-for-sale securities: U.S. Treasury and government agencies $ 365,394 $ 341,199 $ 24,195 $ 0 State and political subdivisions 259,825 0 259,825 0 U.S. government sponsored agency mortgage-backed securities 487,899 0 487,899 0 Asset-backed securities 88,135 0 88,135 0 Equity securities at fair value 2,545 0 0 2,545 Mortgage servicing rights 8,230 0 0 8,230 Fair Value Measurements at December 31, 2022 Using (in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured – recurring basis Available-for-sale securities: U.S. Treasury and government agencies $ 381,932 $ 346,265 $ 35,667 $ 0 State and political subdivisions 265,102 0 265,102 0 U.S. government sponsored agency mortgage-backed securities 520,085 0 520,085 0 Asset-backed securities 89,107 0 89,107 0 Equity securities at fair value 2,166 0 0 2,166 Mortgage servicing rights 8,468 0 0 8,468 Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. These valuation methodologies were applied to all of CTBI’s financial assets carried at fair value. CTBI had no liabilities measured and recorded at fair value as of 30, 2023 and December 31, 2022. There have been no significant changes in the valuation techniques during the quarter ended June 30, 2023. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described Available-for-Sale Securities Securities classified as AFS are reported at fair value on a recurring basis. U.S. Treasury and government agencies are classified as Level 1 of the valuation hierarchy where quoted market prices are available in the active market on which the individual securities are traded. If quoted market prices are not available, CTBI obtains fair value measurements from an independent pricing service, such as Interactive Data, which utilizes pricing models to determine fair value measurement. CTBI reviews the pricing quarterly to verify the reasonableness of the pricing. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information, and the bond’s terms and conditions, among other factors. U.S. Treasury and government agencies, state and political subdivisions, U.S. government sponsored agency mortgage-backed securities, and asset-backed securities are classified as Level 2 inputs. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. Fair value determinations for Level 3 measurements are estimated on a quarterly basis where assumptions used are reviewed to ensure the estimated fair value complies with accounting standards generally accepted in the United States. Equity Securities at Fair Value As of June 30, 2023 and December 31, 2022, the only securities owned by CTBI that were valued using Level 3 criteria are Visa Class B Stock (included in equity securities at fair value). Fair value for Visa Class B Stock is determined by an independent third party utilizing assumptions about factors such as quarterly common stock dividend payments, the conversion of the securities to the relevant Class A Stock shares subject to the prevailing conversion rate, and conversion date. We have concluded the third party assumptions, processes, and conclusions to be reasonable and appropriate in determining the fair value of this asset. See the table below for inputs and valuation techniques used for Level 3 equity securities Mortgage Servicing Rights Mortgage servicing rights (“MSRs”) do not trade in an active, open market with readily observable prices. CTBI reports MSRs at fair value on a recurring basis with subsequent remeasurement of MSRs based on change in fair value. In determining fair value, CTBI utilizes the expertise of an independent third party. Accordingly, fair value is determined by the independent third party by utilizing assumptions about factors such as mortgage interest rates, discount rates, mortgage loan prepayment speeds, market trends, and industry demand. Due to the nature of the valuation inputs, MSRs are classified within Level 3 of the hierarchy. Fair value determinations for Level 3 measurements of MSRs are tested for impairment on a quarterly basis where assumptions used are reviewed to ensure the estimated fair value complies with accounting standards generally accepted in the United States. We have reviewed the assumptions, processes, and conclusions of the third party provider. We have determined these assumptions, processes, and conclusions to be reasonable and appropriate in determining the fair value of this asset. See the table below for inputs and valuation techniques used for Level 3 MSRs. Level 3 Reconciliation Following is a reconciliation of the beginning and ending balances of recurring fair value measurements, for the periods indicated, using significant unobservable (Level 3) inputs: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 (in thousands) Equity Securities at Fair Value Mortgage Servicing Rights Equity Securities at Fair Value Mortgage Servicing Rights Beginning balance $ 2,380 $ 8,121 $ 2,352 $ 7,748 Total unrealized gains (losses) Included in net income 165 80 (224 ) 468 Issues 0 46 0 223 Settlements 0 (17 ) 0 (219 ) Ending balance $ 2,545 $ 8,230 $ 2,128 $ 8,220 Total gains (losses) for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date $ 165 $ 80 $ (224 ) $ 468 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (in thousands) Equity Securities at Fair Value Mortgage Servicing Rights Equity Securities at Fair Mortgage Servicing Rights Beginning balance $ 2,166 $ 8,468 $ 2,253 $ 6,774 Total unrealized gains (losses) Included in net income 379 (134 ) (125 ) 1,451 Issues 0 96 0 452 Settlements 0 (200 ) 0 (457 ) Ending balance $ 2,545 $ 8,230 $ 2,128 $ 8,220 Total gains (losses) for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date $ 379 $ (134 ) $ (125 ) $ 1,451 Realized and unrealized gains and losses for items reflected in the table above are included in net income in the consolidated statements of income as follows: Noninterest Income Three Months Ended Six Months Ended June 30 June 30 (in thousands) 2023 2022 2023 2022 Total gains $ 227 $ 25 $ 44 $ 869 Nonrecurring Measurements The following tables present the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a nonrecurring basis as of June 30, 2023 and December 31, 2022 and indicate the level within the fair value hierarchy of Fair Value Measurements at June 30, 2023 Using (in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured – nonrecurring basis Other real estate owned $ 177 $ 0 $ 0 $ 177 Fair Value Measurements at December 31, 2022 Using (in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured – nonrecurring basis Collateral dependent loans $ 2,703 $ 0 $ 0 $ 2,703 Other real estate owned 570 0 0 570 Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheet, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Collateral Dependent Loans The estimated fair value of collateral-dependent loans is based on the appraised fair value of the collateral, less estimated cost to sell. Collateral-dependent loans are classified within Level 3 of the fair value hierarchy. CTBI considers the appraisal or evaluation as the starting point for determining fair value and then considers other factors and events in the environment that may affect the fair value. Appraisals of the collateral underlying collateral-dependent loans are obtained when the loan is determined to be collateral-dependent and subsequently as deemed necessary by the Chief Credit Officer. Appraisals are reviewed for accuracy and consistency by the Chief Credit Officer. Appraisers are selected from the list of approved appraisers maintained by management. The appraised values are reduced by discounts to consider lack of marketability and estimated cost to sell if repayment or satisfaction of the loan is dependent on the sale of the collateral. These discounts and estimates are developed by the Chief Credit Officer by comparison to historical results. Loans considered collateral dependent are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty in accordance with ASC 326-20-35-5. There were no collateral dependent loans as of June 30, 2023. Other Real Estate Owned In accordance with the provisions of ASC 360, Property, Plant, and Equipment, OREO is classified within Level 3 of the fair value hierarchy. Long-lived assets are subject to nonrecurring fair value adjustments to reflect subsequent partial write-downs that are based on the observable market price or current appraised value of the collateral. Our policy for determining the frequency of periodic reviews is based upon consideration of the specific properties and the known or perceived market fluctuations in a particular market and is typically between 12 and 18 months but generally not more than 24 months. Appraisers are selected from the list of approved appraisers maintained by management. Unobservable (Level 3) Inputs The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements at June 30, 2023 and December 31, 2022. Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value at June 30, 2023 Valuation Technique(s) Unobservable Input Range (Weighted Average) Equity securities at fair value $ 2,545 Discount cash flows, computer pricing model Discount rate 8.0% - 12.0% (10.0%) Conversion date Dec 2025 Dec 2029 ( Dec 2027 Mortgage servicing rights $ 8,230 Discount cash flows, computer pricing model Constant prepayment rate 0.0% - 26.7% (7.4%) Probability of default 0.0% - 100% (1.3%) Discount rate 9.5% - 11.5% (10.0%) Other real estate owned $ 177 Market comparable properties Comparability adjustments 0.0% - 10.0% (10.0%) Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value at December 31, 2022 Valuation Technique(s) Unobservable Input Range (Weighted Average) Equity securities at fair value $ 2,166 Discount cash flows, computer pricing model Discount rate 8.0% - 12.0% (10.0%) Conversion date Dec 2025 Dec 2029 ( Dec 2027 Mortgage servicing rights $ 8,468 Discount cash flows, computer pricing model Constant prepayment rate 6.5% - 28.0% (7.1%) Probability of default 0.0% - 100.0% (1.2%) Discount rate 9.5% - 12.0% (10.0%) Collateral-dependent loans $ 2,703 Market comparable properties Marketability discount 52.0% - 52.0% (52.0%) Other real estate owned $ 570 Market comparable properties Comparability adjustments 10.0% - 30.6% (10.9%) Uncertainty of Fair Value Measurements The following is a discussion of the uncertainty of fair value measurements, the interrelationships between those inputs and other unobservable inputs used in recurring fair value measurement, and how those inputs might magnify or mitigate the effect of changes in the unobservable inputs on the fair value Equity Securities at Fair Value Fair value for equity securities is derived based on unobservable inputs, such as the discount rate, quarterly dividends payable to the Visa Class B common stock, and the prevailing conversion rate at the conversion date. The most recent conversion rate of 1.5902 and the most recent dividend rate of 0.7156 were used to derive the fair value estimate. Significant increases (decreases) in either of those inputs in isolation would result in a significantly lower (higher) fair value measurement. Generally, a change in the assumption used for discount rate is accompanied by a directionally opposite change in the fair value estimate. Mortgage Servicing Rights Fair value for MSRs is derived based on unobservable inputs, such as prepayment speeds of the underlying loans generated using the Andrew Davidson Prepayment Model, FHLMC/FNMA guidelines, the weighted average life of the loan, the discount rate, the weighted average coupon, and the weighted average default rate. Significant increases (decreases) in either of those inputs in isolation would result in a significantly lower (higher) fair value measurement. Generally, a change in the assumption used for prepayment speeds is accompanied by a directionally opposite change in the assumption for interest rates. Fair Value of Financial Instruments The following table presents estimated fair value of CTBI’s financial instruments as of June 30, 2023 and indicates the level within the fair value hierarchy of the valuation techniques. In accordance with the adoption of ASU 2016-01, the fair values as of June 30, 2023 were measured using an exit price notion. Fair Value Measurements at June 30, 2023 Using (in thousands) Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 109,545 $ 109,545 $ 0 $ 0 Certificates of deposit in other banks 245 0 245 0 Debt securities available-for-sale 1,201,253 341,199 860,054 0 Equity securities at fair value 2,545 0 0 2,545 Loans held for sale 238 244 0 0 Loans, net 3,881,677 0 0 3,717,729 Federal Home Loan Bank stock 6,545 0 6,545 0 Federal Reserve Bank stock 4,887 0 4,887 0 Accrued interest receivable 20,257 0 20,257 0 Financial liabilities: Deposits $ 4,516,660 $ 1,361,078 $ 3,163,628 $ 0 Repurchase agreements 229,020 0 0 229,277 Federal funds purchased 500 0 500 0 Advances from Federal Home Loan Bank 345 0 242 0 Long-term debt 64,350 0 0 52,043 Accrued interest payable 5,624 0 5,624 0 Unrecognized financial instruments: Letters of credit $ 0 $ 0 $ 0 $ 0 Commitments to extend credit 0 0 0 0 Forward sale commitments 0 0 0 0 The following table presents estimated fair value of CTBI’s financial instruments as of December 31, 2022 and indicates the level within the fair value hierarchy of the valuation techniques. Fair Value Measurements at December 31, 2022 Using (in thousands) Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 128,686 $ 128,686 $ 0 $ 0 Certificates of deposit in other banks 245 0 245 0 Debt securities available-for-sale 1,256,226 346,265 909,961 0 Equity securities at fair value 2,166 0 0 2,166 Loans held for sale 109 112 0 0 Loans, net 3,663,309 0 0 3,511,810 Federal Home Loan Bank stock 6,676 0 6,676 0 Federal Reserve Bank stock 4,887 0 4,887 0 Accrued interest receivable 19,592 0 19,592 0 Financial liabilities: Deposits $ 4,426,143 $ 1,394,915 $ 3,050,144 $ 0 Repurchase agreements 215,431 0 0 215,542 Federal funds purchased 500 0 500 0 Advances from Federal Home Loan Bank 355 0 380 0 Long-term debt 57,841 0 0 55,860 Accrued interest payable 2,237 0 2,237 0 Unrecognized financial instruments: Letters of credit $ 0 $ 0 $ 0 $ 0 Commitments to extend credit 0 0 0 0 Forward sale commitments 0 0 0 0 |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jun. 30, 2023 | |
Revenue Recognition [Abstract] | |
Revenue Recognition | Note 8 – Revenue Recognition CTBI’s primary source of revenue is interest income generated from loans and investment securities. Interest income is recognized according to the terms of the financial instrument agreement over the life of the loan or investment security unless it is determined that the counterparty is unable to continue making interest payments. Interest income also includes prepaid interest fees from commercial customers, which approximates the interest foregone on the balance of the loan prepaid. CTBI’s additional source of income, also referred to as noninterest income, includes service charges on deposit accounts, gains on sales of loans, Generally, CTBI enters into contracts with customers that are short-term in nature where the performance obligations are fulfilled and payment is processed at the same time. Such examples include revenue related to merchant fees, interchange fees, and investment services income. In addition, revenue generated from existing customer relationships such as deposit accounts are also considered short-term in nature, because the relationship may be terminated at any time and payment is processed at the time performance obligations are fulfilled. As a result, CTBI does t have contract assets, contract liabilities, or related receivable accounts for contracts with customers. In cases where collectability is a concern, CTBI does not record revenue. Generally, the pricing of transactions between CTBI and each customer is either (i) established within a legally enforceable contract between the two parties, as is the case with loan sales, or (ii) disclosed to the customer at a specific point in time, as is the case when a deposit account is opened or before a new loan is underwritten. Fees are usually fixed at a specific amount or as a percentage of a transaction amount. No judgment or estimates by management are required to record revenue related to these transactions and pricing is clearly identified within these contracts. CTBI primarily operates in Kentucky and contiguous areas. Therefore, all significant operating decisions are based upon analysis of CTBI as operating segment. We disaggregate our revenue from contracts with customers by contract-type and timing of revenue recognition, as we believe it best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. Noninterest income not generated from customers during CTBI’s ordinary activities primarily relates to MSRs, gains/losses on the sale of investment securities, gains/losses on the sale of OREO, gains/losses on the sale of property, plant and equipment, and income from bank owned life insurance. For more information related to our components of noninterest income, see the Condensed Consolidated Statements of Income and Comprehensive Income above. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 9 – Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended Six Months Ended June 30 June 30 (in thousands except per share data) 2023 2022 2023 2022 Numerator: Net income $ 19,404 $ 20,271 $ 38,717 $ 39,999 Denominator: Basic earnings per share: Weighted average shares 17,884 17,835 17,877 17,827 Diluted earnings per share: Effect of dilutive stock options and restricted stock grants 6 8 8 11 Adjusted weighted average shares 17,890 17,843 17,885 17,838 Earnings per share: Basic earnings per share $ 1.09 $ 1.14 $ 2.17 $ 2.24 Diluted earnings per share 1.08 1.14 2.16 2.24 There were options to purchase common shares that were excluded from the diluted calculations above for the three and six months ended June 30, 2023 and 2022. In addition to in-the-money stock options, unvested restricted stock grants were also used in the calculation of diluted earnings per share based on the treasury method |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Note 10 – Accumulated Other Comprehensive Income (Loss) Unrealized gains (losses) on AFS securities Amounts reclassified from accumulated other comprehensive income (loss) (“AOCI”) and the affected line items in the statements of income during the three and six months ended June 30, 2023 and 2022 were: Amounts Reclassified from AOCI (in thousands) Three Months Ended June 30 Six Months Ended June 30 2023 2022 2023 2022 Affected line item in the statements of income Securities gains (losses) $ 0 $ (1 ) $ 4 $ (1 ) Tax expense (benefit) 0 0 1 0 Total reclassifications out of AOCI $ 0 $ (1 ) $ 3 $ (1 ) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jun. 30, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation – |
New Accounting Standards | New Accounting Standards ➢ Facilitation of the Effects of Reference Rate Reform on Financial Reporting In December 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 , Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , ➢ Troubled Debt Restructurings and Vintage Disclosures Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures he amendments in this ASU eliminate the accounting guidance for troubled debt restructurings (“TDRs”) by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors Financial Instruments—Credit Losses—Measured at Amortized Cost have been implemented and did not have a significant impact to our consolidated financial statements. ➢ Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions Fair Value Measurement Topic 820: Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions to Fair Value Measurement We do not anticipate a significant impact to our consolidated financial statements. ➢ FASB Improves the Accounting for Investments in Tax Credit Structures – The FASB issued, ASU No. 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method , |
Significant Accounting Policies | Significant Accounting Policies – The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the appropriate application of certain accounting policies, many of which require us to make estimates and assumptions about future events and their impact on amounts reported in our consolidated financial statements and related notes. Since future events and their impact cannot be determined with certainty, the actual results will inevitably differ from our estimates. Such differences could be material to our consolidated financial statements. We believe the application of accounting policies and the estimates required therein are reasonable. These accounting policies and estimates are constantly reevaluated, and adjustments are made when facts and circumstances dictate a change. Historically, we have found our application of accounting policies to be appropriate, and actual results have not differed materially from those determined using necessary estimates. We have identified the following significant accounting policies: |
Investments | ➢ FASB Investments – Debt Securities a. Trading securities . . b. Available-for-sale securities. Investments not classified as trading securities (nor as HTM securities) shall be classified as available-for-sale (“AFS”) securities. We do not have any securities that are classified as trading securities. AFS securities are reported at fair value, with unrealized gains and losses included as a separate component of shareholders’ equity, net of tax. If declines in fair value are other than temporary, the carrying value of the securities is written down to fair value as a realized loss with a charge to income for the portion attributable to credit losses and a charge to other comprehensive income for the portion that is not credit related. For AFS debt securities in an unrealized loss position, we evaluate the securities to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or non-credit related factors. Any impairment that is not credit-related is recognized in accumulated other comprehensive income, net of tax. Credit-related impairment is recognized as an allowance for credit losses (“ACL”) for AFS debt securities on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Accrued interest receivable on AFS debt securities is excluded from the estimate of credit losses. Both the ACL for AFS debt securities and the adjustment to net income may be reversed if conditions change. However, if we intend to sell an impaired AFS debt security or more likely than not will be required to sell such a security before recovering its amortized cost basis, the entire impairment amount would be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis. Because the security’s amortized cost basis is adjusted to fair value, there is no ACL for AFS debt securities in this situation. In evaluating AFS debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, we consider the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers’ financial condition, among other factors. There were no credit related factors underlying unrealized losses on AFS debt securities at June 30, 2023 and December 31, 2022, therefore, no ACL for AFS securities was recorded. Changes in the ACL for AFS debt securities are recorded as expense. Losses are charged against the ACL for AFS debt securities when management believes the uncollectability of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Gains or losses on disposition of debt securities are computed by specific identification for those securities. Interest and dividend income, adjusted by amortization of purchase premium or discount, is included in earnings. HTM securities are subject to an allowance for lifetime expected credit losses, determined by adjusting historical loss information for current conditions and reasonable and supportable forecasts. The forward-looking evaluation of lifetime expected losses will be performed on a pooled basis for debt securities that share similar risk characteristics. These allowances for expected losses must be made by the holder of the HTM debt security when the security is purchased. At June 30, 2023 and 2022, CTBI held no securities designated as HTM. CTBI accounts for equity securities in accordance with ASC 321, Investments – Equity Securities Equity securities with a readily determinable fair value are required to be measured at fair value, with changes in fair value recognized in net income. Equity securities without a readily determinable fair value are carried at cost, less any impairment, if any, plus or minus changes resulting from observable price changes for identical or similar investments. As permitted by ASC 321-10-35-2, CTBI can make an irrevocable election to subsequently measure an equity security without a readily determinable fair value, and all identical or similar investments of the same issuer, including future purchases of identical or similar investments of the same issuer, at fair value. CTBI has made this election for our Visa Class B equity securities. The fair value of these securities was determined by a third party service provider using Level 3 inputs as defined in ASC 820, Fair Value Measurement |
Loans | ➢ With the implementation of ASU 2022-02 described above in the New Accountings Standards, TDRs have been eliminated while enhanced disclosure requirements have been implemented for certain loan modifications when a borrower is experiencing financial difficulty. Loan origination and commitment fees and certain direct loan origination costs are deferred and the net amount amortized over the estimated life of the related loans, or commitments as a yield adjustment. |
Allowance for Credit Losses | ➢ In the event that collection of principal becomes uncertain, CTBI has policies in place to reverse accrued interest in a timely manner. Therefore, CTBI elected ASU We maintain an ACL at a level that is appropriate to cover estimated credit losses on individually evaluated loans, as well as estimated credit losses inherent in the remainder of the loan and lease portfolio. Credit losses are charged and recoveries are credited to the ACL. We utilize an internal risk grading system for commercial credits. Those credits that meet the following criteria are subject to individual evaluation: the loan has an outstanding bank share balance of $1 million or greater and has a criticized risk rating and meets one of the following criteria: (i) is in nonaccrual status, (ii) the borrower is experiencing financial difficulty with significant payment delay Homogenous loans, such as consumer installment, residential mortgages, and home equity lines are not individually risk graded. The associated ACL for these loans is measured in pools with similar risk characteristics under ASC 326. When any secured commercial loan is considered uncollectable, whether past due or not, a current assessment of the value of the underlying collateral is made. If the balance of the loan exceeds the fair value of the collateral, the loan is placed on nonaccrual and the loan is charged down to the value of the collateral less estimated cost to sell. For commercial loans greater than $ that are categorized as individually evaluated based on the criteria listed above , When the foreclosed collateral has been legally assigned to CTBI, the estimated fair value of the collateral less costs to sell is then transferred to other real estate owned or other repossessed assets, and a charge-off is taken for any remaining balance. When any unsecured commercial loan is considered uncollectable the loan is charged off no later than at past due. All closed-end consumer loans (excluding conventional 1-4 family residential loans and installment and revolving loans secured by real estate) are charged off no later than 120 days (five monthly payments) delinquent. If a loan is considered uncollectable, it is charged off earlier than 120 days delinquent. For conventional 1-4 family residential loans and installment and revolving loans secured by real estate, when a loan is 90 days past due, a current assessment of the value of the real estate is made. If the balance of the loan exceeds the fair value of the property, the loan is placed on nonaccrual. Foreclosure proceedings are normally initiated after 120 days. When the foreclosed property has been legally assigned to CTBI, the fair value less estimated costs to sell is transferred to other real estate owned and the remaining balance is taken as a charge-off. Prior During the quarter ended June 30, 2023, CTBI implemented third party software and the determination was made to utilize discounted cash flow loss rate methodologies for all loan segments. Within the discount cash flow calculation, an effective yield of the instrument is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows, modeled considering probability of default (PD) and segment-specific loss given default (LGD) risk factors, are then discounted at that effective yield to produce an instrument-level net present value (NPV) of expected cash flows. An allowance for credit loss is established for the difference between the instrument’s NPV and amortized cost basis. Any changes in NPV between periods is recorded as provision for credit losses. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on historical internal data and adjusted, if necessary, based on the reasonable and supportable forecast of economic conditions. Management incorporates qualitative factors to loss estimates used to derive CTBI’s total ACL including delinquency trends, current economic conditions and trends, strength of supervision and administration of the loan portfolio, levels of underperforming loans, and underwriting exceptions. Forecast factors were expanded to include gross domestic product, retail and food service sales, and S&P/Case-Shiller US National Home Price Index, while industry concentrations was added as a qualitative factor. Management continually reevaluates the other subjective factors included in our ACL analysis. |
Goodwill and Core Deposit Intangible | ➢ – We evaluate total goodwill and core deposit intangible for impairment, based upon ASC 350, Intangibles-Goodwill and Other, using fair value techniques including multiples of price/equity. Goodwill and core deposit intangible are evaluated for impairment on an annual basis or as other events may warrant. The balance of goodwill, at $65.5 million, has not changed since January 1, 2015. |
Income Taxes | ➢ During the six months ended June 30, 2023 and 2022, CTBI has not recognized a significant amount of interest expense or penalties in connection with income taxes. |
Estimated Credit Losses on Off-Balance Sheet Credit Exposures Recognized as Other Liabilities | ➢ Estimated Credit Losses on Off-Balance Sheet Credit Exposures Recognized as Other Liabilitie . |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Securities [Abstract] | |
Amortized Cost and Fair Value of Available-for-sale Securities | The amortized cost and fair value of debt securities at June 30, 2023 are summarized as follows: Available-for-Sale (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury and government agencies $ 400,148 $ 143 $ (34,897 ) $ 365,394 State and political subdivisions 314,048 2 (54,225 ) 259,825 U.S. government sponsored agency mortgage-backed securities 558,964 1 (71,066 ) 487,899 Asset-backed securities 89,588 0 (1,453 ) 88,135 Total available-for-sale securities $ 1,362,748 $ 146 $ (161,641 ) $ 1,201,253 The amortized cost and fair value of debt securities at December 31, 2022 are summarized as follows: Available-for-Sale (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury and government agencies $ 418,579 $ 212 $ (36,859 ) $ 381,932 State and political subdivisions 326,746 32 (61,676 ) 265,102 U.S. government sponsored agency mortgage-backed securities 593,917 1 (73,833 ) 520,085 Asset-backed securities 91,363 0 (2,256 ) 89,107 Total available-for-sale securities $ 1,430,605 $ 245 $ (174,624 ) $ 1,256,226 |
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | The amortized cost and fair value of debt securities at June 30 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Available-for-Sale (in thousands) Amortized Cost Fair Value Due in one year or less $ 33,089 $ 32,613 Due after one through five years 336,248 305,693 Due after five through ten years 169,173 145,760 Due after ten years 175,686 141,153 U.S. government sponsored agency mortgage-backed securities 558,964 487,899 Asset-backed securities 89,588 88,135 Total debt securities $ 1,362,748 $ 1,201,253 |
Available for Sale Securities and Held-to-Maturity Securities, Continuous Unrealized Loss Position | CTBI evaluates its investment portfolio on a quarterly basis for impairment. The analysis performed as of June 30, 2023 of total debt securities with unrealized losses as of June 30, 2023 compared to as of December The following table provides the amortized cost, gross unrealized losses, and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of June 30, 2023 June 30, 2023 Available-for-Sale (in thousands) Amortized Cost Gross Unrealized Losses Fair Value Less Than 12 Months U.S. Treasury and government agencies $ 7,188 $ (10 ) $ 7,178 State and political subdivisions 34,386 (1,493 ) 32,893 U.S. government sponsored agency mortgage-backed securities 51,640 (1,806 ) 49,834 Asset-backed securities 0 0 0 Total <12 months temporarily impaired AFS securities 93,214 (3,309 ) 89,905 12 Months or More U.S. Treasury and government agencies 380,143 (34,887 ) 345,256 State and political subdivisions 277,291 (52,732 ) 224,559 U.S. government sponsored agency mortgage-backed securities 507,278 (69,260 ) 438,018 Asset-backed securities 89,588 (1,453 ) 88,135 Total ≥12 months temporarily impaired AFS securities 1,254,300 (158,332 ) 1,095,968 Total U.S. Treasury and government agencies 387,331 (34,897 ) 352,434 State and political subdivisions 311,677 (54,225 ) 257,452 U.S. government sponsored agency mortgage-backed securities 558,918 (71,066 ) 487,852 Asset-backed securities 89,588 (1,453 ) 88,135 Total temporarily impaired AFS securities $ 1,347,514 $ (161,641 ) $ 1,185,873 The analysis performed as of December indicated that all impairment was considered temporary, market and interest rate driven, and not credit-related. The following table provides the amortized cost, gross unrealized losses, and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December that are not deemed to be other-than-temporarily impaired. As stated above, CTBI had no HTM securities as of December 31, 2022. Available-for-Sale (in thousands) Amortized Cost Gross Unrealized Losses Fair Value Less Than 12 Months U.S. Treasury and government agencies $ 144,305 $ (6,953 ) $ 137,352 State and political subdivisions 94,277 (6,257 ) 88,020 U.S. government sponsored agency mortgage-backed securities 139,314 (6,883 ) 132,431 Asset-backed securities 38,882 (1,231 ) 37,651 Total <12 months temporarily impaired AFS securities 416,778 (21,324 ) 395,454 12 Months or More U.S. Treasury and government agencies 249,424 (29,906 ) 219,518 State and political subdivisions 225,019 (55,419 ) 169,600 U.S. government sponsored agency mortgage-backed securities 454,357 (66,950 ) 387,407 Asset-backed securities 52,480 (1,025 ) 51,455 Total ≥12 months temporarily impaired AFS securities 981,280 (153,300 ) 827,980 Total U.S. Treasury and government agencies 393,729 (36,859 ) 356,870 State and political subdivisions 319,296 (61,676 ) 257,620 U.S. government sponsored agency mortgage-backed securities 593,671 (73,833 ) 519,838 Asset-backed securities 91,362 (2,256 ) 89,106 Total temporarily impaired AFS securities $ 1,398,058 $ (174,624 ) $ 1,223,434 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Loans [Abstract] | |
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans | Major classifications of loans, net of unearned income, deferred loan origination costs and fees, and net premiums on acquired loans, are summarized as follows: (in thousands) June 30 2023 December 31 2022 Hotel/motel $ 372,981 $ 343,640 Commercial real estate residential 393,309 372,914 Commercial real estate nonresidential 787,598 762,349 Dealer floorplans 76,903 77,533 Commercial other 319,838 312,422 Commercial loans 1,950,629 1,868,858 Real estate mortgage 883,104 824,996 Home equity lines 132,033 120,540 Residential loans 1,015,137 945,536 Consumer direct 157,848 157,504 Consumer indirect 806,081 737,392 Consumer loans 963,929 894,896 Loans and lease financing $ 3,929,695 $ 3,709,290 |
Shift in Reserve Estimates Due to Change in Modeling | During the quarter ended June 30, 2023, CTBI implemented third party software for its ACL calculations. During the implementation process, discounted cash flow modeling was chosen for all loan segments. The primary reasons that contributed to this decision were: Discounted cash flow (“DCF”) models allow for the effective incorporation of a reasonable and supportable forecast in a directionally consistent and objective manner; the analysis aligns well with other calculations outside of the ACL estimation which will mitigate model risk in other areas; and peer data is available for certain inputs if first -party data is not available or meaningful. This change in modeling resulted in a shift in our reserve estimates as of June 30, 2023 as presented below: (in thousands) ACL Software June 30, 2023 CTBI Internal ACL Model June 30, 2023 Change in Allocation Hotel/motel $ 5,192 $ 6,038 $ (846 ) Commercial real estate residential 3,749 4,669 (920 ) Commercial real estate nonresidential 7,797 8,794 (997 ) Dealer floorplans 1,157 1,719 (562 ) Commercial other 6,176 4,547 1,629 Commercial loans reserve allocation 24,071 25,767 (1,696 ) Real estate mortgage 7,884 8,443 (559 ) Home equity lines 1,108 1,065 43 Residential loans reserve allocation 8,992 9,508 (516 ) Consumer direct 2,563 1,673 890 Consumer indirect 12,392 10,959 1,433 Consumer loans reserve allocation 14,955 12,632 2,323 Loans and lease financing allowance for credit loss $ 48,018 47,907 $ 111 |
Balance in ACL | The following tables present the balance in the ACL for the periods ended June 30, 2023, December 31, 2022, and June 30, 2022 Three Months Ended June 30, 2023 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending Balance ACL Hotel/motel $ 5,287 $ (95 ) $ 0 $ 0 $ 5,192 Commercial real estate residential 5,157 (1,384 ) (28 ) 4 3,749 Commercial real estate nonresidential 9,010 (1,393 ) (9 ) 189 7,797 Dealer floorplans 1,694 (537 ) 0 0 1,157 Commercial other 4,782 2,387 (1,073 ) 80 6,176 Real estate mortgage 7,917 10 (55 ) 12 7,884 Home equity 1,044 76 (13 ) 1 1,108 Consumer direct 1,746 807 (82 ) 92 2,563 Consumer indirect 10,046 2,138 (693 ) 901 12,392 Total $ 46,683 $ 2,009 $ (1,953 ) $ 1,279 $ 48,018 Six Months Ended June 30, 2023 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending Balance ACL Hotel/motel $ 5,171 $ 21 $ 0 $ 0 $ 5,192 Commercial real estate residential 4,894 (1,198 ) (28 ) 81 3,749 Commercial real estate nonresidential 9,419 (1,946 ) (9 ) 333 7,797 Dealer floorplans 1,776 (619 ) 0 0 1,157 Commercial other 5,285 1,971 (1,260 ) 180 6,176 Real estate mortgage 7,932 31 (95 ) 16 7,884 Home equity 1,106 12 (13 ) 3 1,108 Consumer direct 1,694 912 (238 ) 195 2,563 Consumer indirect 8,704 3,941 (2,075 ) 1,822 12,392 Total $ 45,981 $ 3,125 $ (3,718 ) $ 2,630 $ 48,018 Year Ended December 31, 2022 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending Balance ACL Hotel/motel $ 5,080 $ 307 $ (216 ) $ 0 $ 5,171 Commercial real estate residential 3,986 951 (92 ) 49 4,894 Commercial real estate nonresidential 8,884 (154 ) (46 ) 735 9,419 Dealer floorplans 1,436 340 0 0 1,776 Commercial other 4,422 947 (1,082 ) 998 5,285 Real estate mortgage 7,637 466 (223 ) 52 7,932 Home equity 866 257 (37 ) 20 1,106 Consumer direct 1,951 (210 ) (609 ) 562 1,694 Consumer indirect 7,494 2,001 (3,041 ) 2,250 8,704 Total $ 41,756 $ 4,905 $ (5,346 ) $ 4,666 $ 45,981 Three Months Ended June 30, 2022 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending ACL Hotel/motel $ 4,711 $ 133 $ 0 $ 0 $ 4,844 Commercial real estate residential 4,070 124 0 6 4,200 Commercial real estate nonresidential 9,169 (223 ) 0 22 8,968 Dealer floorplans 1,519 (42 ) 0 0 1,477 Commercial other 4,844 (285 ) (187 ) 101 4,473 Real estate mortgage 7,662 586 (84 ) 15 8,179 Home equity 819 71 (5 ) 2 887 Consumer direct 1,787 (65 ) (175 ) 74 1,621 Consumer indirect 7,728 (222 ) (377 ) 566 7,695 Total $ 42,309 $ 77 $ (828 ) $ 786 $ 42,344 Six Months Ended June 30, 2022 (in thousands) Beginning Balance Provision Charged to Expense Losses Charged Off Recoveries Ending Balance ACL Hotel/motel $ 5,080 $ (20 ) $ (216 ) $ 0 $ 4,844 Commercial real estate residential 3,986 234 (31 ) 11 4,200 Commercial real estate nonresidential 8,884 (49 ) 0 133 8,968 Dealer floorplans 1,436 41 0 0 1,477 Commercial other 4,422 193 (344 ) 202 4,473 Real estate mortgage 7,637 683 (177 ) 36 8,179 Home equity 866 38 (24 ) 7 887 Consumer direct 1,951 (245 ) (345 ) 260 1,621 Consumer indirect 7,494 77 (1,011 ) 1,135 7,695 Total $ 41,756 $ 952 $ (2,148 ) $ 1,784 $ 42,344 |
Nonaccrual Loans Segregated by Class of Loans | Refer to Note 1 to the condensed consolidated financial statements for further information regarding our nonaccrual policy. Nonaccrual loans and loans 90 days past due and still accruing segregated by class of loans for both June 30, 2023 and December 31, 2022 were as follows: June 30, 2023 (in thousands) Nonaccrual Loans with No ACL Nonaccrual Loans with ACL 90+ and Still Accruing Total Nonperforming Loans Hotel/motel $ 0 $ 0 $ 0 $ 0 Commercial real estate residential 0 322 712 1,034 Commercial real estate nonresidential 0 982 300 1,282 Commercial other 0 753 277 1,030 Total commercial loans 0 2,057 1,289 3,346 Real estate mortgage 0 3,093 4,206 7,299 Home equity lines 0 195 459 654 Total residential loans 0 3,288 4,665 7,953 Consumer direct 0 0 6 6 Consumer indirect 0 0 439 439 Total consumer loans 0 0 445 445 Loans and lease financing $ 0 $ 5,345 $ 6,399 $ 11,744 December 31, 2022 (in thousands) Nonaccrual Loans with No ACL Nonaccrual Loans with ACL 90+ and Still Accruing Total Nonperforming Loans Hotel/motel $ 0 $ 0 $ 0 $ 0 Commercial real estate residential 0 355 258 613 Commercial real estate nonresidential 0 1,116 1,947 3,063 Commercial other 0 982 369 1,351 Total commercial loans 0 2,453 2,574 5,027 Real estate mortgage 0 4,069 4,929 8,998 Home equity lines 0 291 487 778 Total residential loans 0 4,360 5,416 9,776 Consumer direct 0 0 41 41 Consumer indirect 0 0 465 465 Total consumer loans 0 0 506 506 Loans and lease financing $ 0 $ 6,813 $ 8,496 $ 15,309 |
Bank's Loan Portfolio Aging Analysis, Segregated by Class | The following tables present CTBI’s loan portfolio aging analysis, segregated by class, as of June 30, 2023 and December 31, 2022 (includes loans 90 days past due and still accruing as well): June 30, 2023 (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total Past Due Current Total Loans Hotel/motel $ 0 $ 0 $ 0 $ 0 $ 372,981 $ 372,981 Commercial real estate residential 152 279 1,000 1,431 391,878 393,309 Commercial real estate nonresidential 1,101 110 940 2,151 785,447 787,598 Dealer floorplans 0 0 0 0 76,903 76,903 Commercial other 1,062 330 694 2,086 317,752 319,838 Total commercial loans 2,315 719 2,634 5,668 1,944,961 1,950,629 Real estate mortgage 1,440 2,528 6,220 10,188 872,916 883,104 Home equity lines 733 435 490 1,658 130,375 132,033 Total residential loans 2,173 2,963 6,710 11,846 1,003,291 1,015,137 Consumer direct 557 95 6 658 157,190 157,848 Consumer indirect 3,147 865 439 4,451 801,630 806,081 Total consumer loans 3,704 960 445 5,109 958,820 963,929 Loans and lease financing $ 8,192 $ 4,642 $ 9,789 $ 22,623 $ 3,907,072 $ 3,929,695 December 31, 2022 (in thousands) 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total Past Due Current Total Loans Hotel/motel $ 0 $ 0 $ 0 $ 0 $ 343,640 $ 343,640 Commercial real estate residential 602 225 574 1,401 371,513 372,914 Commercial real estate nonresidential 2,549 395 2,611 5,555 756,794 762,349 Dealer floorplans 0 0 0 0 77,533 77,533 Commercial other 1,029 850 496 2,375 310,047 312,422 Total commercial loans 4,180 1,470 3,681 9,331 1,859,527 1,868,858 Real estate mortgage 869 3,402 7,067 11,338 813,658 824,996 Home equity lines 786 44 740 1,570 118,970 120,540 Total residential loans 1,655 3,446 7,807 12,908 932,628 945,536 Consumer direct 555 126 41 722 156,782 157,504 Consumer indirect 4,407 764 465 5,636 731,756 737,392 Total consumer loans 4,962 890 506 6,358 888,538 894,896 Loans and lease financing $ 10,797 $ 5,806 $ 11,994 $ 28,597 $ 3,680,693 $ 3,709,290 |
Credit Risk Profile of the Bank's Commercial Loan Portfolio Based on Rating Category and Payment Activity, Segregated by Class of Loans | The following tables present the credit risk profile of CTBI’s commercial loan portfolio based on rating category and payment activity, as well as gross charge-offs year to date, if any, segregated by class of loans and based on last credit decision or year of origination: June 30, 2023 Term Loans Amortized Cost Basis by Origination Year (in s) 2023 2022 2021 2020 2019 Prior Revolving Loans Total Hotel/motel Risk rating: Pass $ 38,210 $ 150,521 $ 28,454 $ 17,968 $ 47,039 $ 47,091 $ 4,043 $ 333,326 Watch 2,949 6,957 8,873 4,709 3,412 3,871 0 30,771 OAEM 0 0 6,971 0 0 1,913 0 8,884 Substandard 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 Total hotel/motel 41,159 157,478 44,298 22,677 50,451 52,875 4,043 372,981 Commercial real estate residential Risk rating: Pass 55,238 104,912 104,205 35,701 12,921 41,206 14,132 368,315 Watch 753 1,010 835 1,948 743 7,367 144 12,800 OAEM 0 0 0 0 0 65 0 65 Substandard 286 617 4,295 623 289 6,019 0 12,129 Doubtful 0 0 0 0 0 0 0 0 Total commercial real estate residential 56,277 106,539 109,335 38,272 13,953 54,657 14,276 393,309 Commercial real estate residential current period gross charge-offs 0 0 (28 ) 0 0 0 0 (28 ) Commercial real estate nonresidential Risk rating: Pass 81,927 153,561 152,539 79,949 66,557 166,883 25,508 726,924 Watch 300 3,966 6,499 9,716 7,618 6,710 711 35,520 OAEM 2,375 19 0 0 0 74 0 2,468 Substandard 1,370 1,439 2,522 4,543 3,096 9,701 0 22,671 Doubtful 0 0 0 0 0 15 0 15 Total commercial real estate nonresidential 85,972 158,985 161,560 94,208 77,271 183,383 26,219 787,598 Commercial real estate nonresidential current period gross charge-offs 0 0 0 (9 ) 0 0 0 (9 ) Dealer floorplans Risk rating: Pass 0 0 0 0 0 0 76,903 76,903 Watch 0 0 0 0 0 0 0 0 OAEM 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 Total dealer floorplans 0 0 0 0 0 0 76,903 76,903 Commercial other Risk rating: Pass 41,105 60,219 54,817 31,984 6,523 24,483 78,670 297,801 Watch 541 1,390 980 156 334 771 5,990 10,162 OAEM 0 30 0 0 0 0 30 60 Substandard 466 4,216 4,807 943 219 564 600 11,815 Doubtful 0 0 0 0 0 0 0 0 Total commercial other 42,112 65,855 60,604 33,083 7,076 25,818 85,290 319,838 Commercial other current period gross charge-offs (321 ) (632 ) (154 ) (17 ) (90 ) (46 ) 0 (1,260 ) Commercial loans Risk rating: Pass 216,480 469,213 340,015 165,602 133,040 279,663 199,256 1,803,269 Watch 4,543 13,323 17,187 16,529 12,107 18,719 6,845 89,253 OAEM 2,375 49 6,971 0 0 2,052 30 11,477 Substandard 2,122 6,272 11,624 6,109 3,604 16,284 600 46,615 Doubtful 0 0 0 0 0 15 0 15 Total commercial loans $ 225,520 $ 488,857 $ 375,797 $ 188,240 $ 148,751 $ 316,733 $ 206,731 $ 1,950,629 Total commercial loans current period gross charge-offs $ (321 ) $ (632 ) $ (182 ) $ (26 ) $ (90 ) $ (46 ) $ 0 $ (1,297 ) December 31, 2022 Term Loans Amortized Cost Basis by Origination Year (in s) 2022 2021 2020 2019 2018 Prior Revolving Loans Total Hotel/motel Risk rating: Pass $ 145,262 $ 36,002 $ 17,742 $ 54,328 $ 13,178 $ 35,179 $ 545 $ 302,236 Watch 7,921 8,996 5,523 3,453 0 13,555 0 39,448 OAEM 0 0 0 0 0 1,956 0 1,956 Substandard 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 Total hotel/motel 153,183 44,998 23,265 57,781 13,178 50,690 545 343,640 Commercial real estate residential Risk rating: Pass 119,826 110,963 38,423 15,467 10,492 36,307 14,297 345,775 Watch 1,474 898 1,675 848 2,136 7,015 152 14,198 OAEM 0 0 0 39 0 0 29 68 Substandard 182 4,289 1,878 346 3,639 2,539 0 12,873 Doubtful 0 0 0 0 0 0 0 0 Total commercial real estate residential 121,482 116,150 41,976 16,700 16,267 45,861 14,478 372,914 Commercial real estate nonresidential Risk rating: Pass 175,220 171,311 80,932 70,848 44,099 137,575 23,166 703,151 Watch 3,331 5,765 10,090 2,178 1,962 10,022 1,550 34,898 OAEM 19 0 0 0 0 90 0 109 Substandard 1,939 2,537 4,877 3,135 508 10,865 25 23,886 Doubtful 0 0 0 0 0 305 0 305 Total commercial real estate nonresidential 180,509 179,613 95,899 76,161 46,569 158,857 24,741 762,349 Dealer floorplans Risk rating: Pass 0 0 0 0 0 0 77,153 77,153 Watch 0 0 0 0 0 0 380 380 OAEM 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 Total dealer floorplans 0 0 0 0 0 0 77,533 77,533 Commercial other Risk rating: Pass 78,846 60,550 34,841 8,922 2,333 23,961 77,355 286,808 Watch 1,622 393 604 217 159 780 6,402 10,177 OAEM 30 0 0 0 0 0 30 60 Substandard 6,090 5,489 885 356 143 758 952 14,673 Doubtful 466 129 0 109 0 0 0 704 Total commercial other 87,054 66,561 36,330 9,604 2,635 25,499 84,739 312,422 Commercial loans Risk rating: Pass 519,154 378,826 171,938 149,565 70,102 233,022 192,516 1,715,123 Watch 14,348 16,052 17,892 6,696 4,257 31,372 8,484 99,101 OAEM 49 0 0 39 0 2,046 59 2,193 Substandard 8,211 12,315 7,640 3,837 4,290 14,162 977 51,432 Doubtful 466 129 0 109 0 305 0 1,009 Total commercial loans $ 542,228 $ 407,322 $ 197,470 $ 160,246 $ 78,649 $ 280,907 $ 202,036 $ 1,868,858 |
Credit Risk Profile of Residential Real Estate and Consumer Loan Portfolio Based on Performing and Nonperforming Status Segregated by Class | The following tables present the credit risk profile of CTBI’s residential real estate and consumer loan portfolios based on performing or nonperforming status, segregated by class: June 30, 2023 Term Loans Amortized Cost Basis by Origination Year (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Total Home equity lines Performing $ 0 $ 0 $ 0 $ 0 $ 0 $ 9,047 $ 122,332 $ 131,379 Nonperforming 0 0 0 0 0 403 251 654 Total home equity lines 0 0 0 0 0 9,450 122,583 132,033 Home equity lines current period gross charge-offs (13 ) 0 (13 ) Mortgage loans Performing 96,372 175,566 169,481 125,782 59,375 249,229 0 875,805 Nonperforming 0 0 311 121 773 6,094 0 7,299 Total mortgage loans 96,372 175,566 169,792 125,903 60,148 255,323 0 883,104 Mortgage loans current period gross charge-offs 0 0 (47 ) 0 (1 ) (47 ) 0 (95 ) Residential loans Performing 96,372 175,566 169,481 125,782 59,375 258,276 122,332 1,007,184 Nonperforming 0 0 311 121 773 6,497 251 7,953 Total residential loans $ 96,372 $ 175,566 $ 169,792 $ 125,903 $ 60,148 $ 264,773 $ 122,583 $ 1,015,137 Total residential loans current period gross charge-offs $ 0 $ 0 $ (47 ) $ 0 $ (1 ) $ (60 ) $ 0 $ (108 ) Consumer direct loans Performing $ 35,168 $ 45,893 $ 33,307 $ 19,215 $ 9,082 $ 15,177 $ 0 $ 157,842 Nonperforming 0 6 0 0 0 0 0 6 Total consumer direct loans 35,168 45,899 33,307 19,215 9,082 15,177 0 157,848 Total consumer direct loans current period gross charge-offs 0 (146 ) (42 ) (30 ) (14 ) (6 ) 0 (238 ) Consumer indirect loans Performing 217,355 306,664 136,812 90,812 33,856 20,143 0 805,642 Nonperforming 0 157 183 36 18 45 0 439 Total consumer indirect loans 217,355 306,821 136,995 90,848 33,874 20,188 0 806,081 Total consumer indirect loans current period gross charge-offs (42 ) (785 ) (883 ) (217 ) (75 ) (73 ) 0 (2,075 ) Consumer loans Performing 252,523 352,557 170,119 110,027 42,938 35,320 0 963,484 Nonperforming 0 163 183 36 18 45 0 445 Total consumer loans $ 252,523 $ 352,720 $ 170,302 $ 110,063 $ 42,956 $ 35,365 $ 0 $ 963,929 Total consumer loans current period gross charge-offs $ (42 ) $ (931 ) $ (925 ) $ (247 ) $ (89 ) $ (79 ) $ 0 $ (2,313 ) December 31, 2022 Term Loans Amortized Cost Basis by Origination Year (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Total Home equity lines Performing $ 0 $ 0 $ 0 $ 0 $ 0 $ 10,195 $ 109,567 $ 119,762 Nonperforming 0 0 0 0 0 502 276 778 Total home equity lines 0 0 0 0 0 10,697 109,843 120,540 Mortgage loans Performing 176,736 177,469 132,795 62,415 30,473 236,110 0 815,998 Nonperforming 0 282 98 791 422 7,405 0 8,998 Total mortgage loans 176,736 177,751 132,893 63,206 30,895 243,515 0 824,996 Residential loans Performing 176,736 177,469 132,795 62,415 30,473 246,305 109,567 935,760 Nonperforming 0 282 98 791 422 7,907 276 9,776 Total residential loans $ 176,736 $ 177,751 $ 132,893 $ 63,206 $ 30,895 $ 254,212 $ 109,843 $ 945,536 Consumer direct loans Performing $ 62,239 $ 42,014 $ 23,921 $ 11,166 $ 6,766 $ 11,357 $ 0 $ 157,463 Nonperforming 25 11 5 0 0 0 0 41 Total consumer direct loans 62,264 42,025 23,926 11,166 6,766 11,357 0 157,504 Consumer indirect loans Performing 371,079 168,513 116,267 45,748 26,247 9,073 0 736,927 Nonperforming 65 251 96 30 1 22 0 465 Total consumer indirect loans 371,144 168,764 116,363 45,778 26,248 9,095 0 737,392 Consumer loans Performing 433,318 210,527 140,188 56,914 33,013 20,430 0 894,390 Nonperforming 90 262 101 30 1 22 0 506 Total consumer loans $ 433,408 $ 210,789 $ 140,289 $ 56,944 $ 33,014 $ 20,452 $ 0 $ 894,896 |
Collateral Dependent Loans and Impaired Loans With/Without Specific Valuation Allowance | In accordance with ASC 326-20-30-2, if a loan does not share risk characteristics with other pooled loans in determining the allowance for credit losses, the loan shall be evaluated for expected credit losses on an individual basis. Of the loans that CTBI has individually evaluated, the loans listed below by segment are those that are collateral dependent: June 30, 2023 (in thousands) Number of Loans Recorded Investment Specific Reserve Hotel/motel 2 $ 8,114 $ 0 Commercial real estate residential 3 6,353 0 Commercial real estate nonresidential 6 11,704 0 Commercial other 2 6,585 0 Total collateral dependent loans 13 $ 32,756 $ 0 December 31, 2022 (in thousands) Number of Loans Recorded Investment Specific Reserve Hotel/motel 1 $ 1,168 $ 0 Commercial real estate residential 4 7,786 0 Commercial real estate nonresidential 8 14,718 200 Commercial other 2 8,926 1,000 Total collateral dependent loans 15 $ 32,598 $ 1,200 June 30, 2022 (in thousands) Number of Loans Recorded Investment Specific Reserve Hotel/motel 1 $ 1,196 $ 0 Commercial real estate residential 4 6,957 0 Commercial real estate nonresidential 10 18,218 200 Commercial other 3 10,190 550 Total collateral dependent loans 18 $ 36,561 $ 750 |
Modified Loans Segregated by Class of Loans and Concession Granted | Certain loans have been modified where the customer is facing financial difficulty and economic concessions were granted to borrowers consisting of reductions in the interest rates, payment extensions, forgiveness of principal, and forbearances. Those loans, segregated by class of loans and concession granted, are presented below : Interest Rate Reduction Term Extension (in thousands) Amortized Cost at June 30, 2023 % of total Amortized Cost at June 30, 2023 % of total Hotel/motel $ 0 0.00 % $ 0 0.00 % Commercial real estate residential 0 0.00 44 0.01 Commercial real estate nonresidential 73 0.01 13 0.00 Dealer floorplans 0 0.00 0 0.00 Commercial other 0 0.00 522 0.16 Commercial loans 73 0.00 579 0.03 Real estate mortgage 0 0.00 877 0.10 Home equity lines 0 0.00 0 0.00 Residential loans 0 0.00 877 0.09 Consumer direct 0 0.00 54 0.03 Consumer indirect 0 0.00 95 0.01 Consumer loans 0 0.00 149 0.02 Loans and lease financing $ 73 0.00 % $ 1,605 0.04 % Combination – Term Extension and Interest Rate Reduction Payment Change (in thousands) Amortized Cost at % of total Amortized Cost at June 30, 2023 % of total Hotel/motel $ 0 0.00 % $ 0 0.00 % Commercial real estate residential 0 0.00 0 0.00 Commercial real estate nonresidential 0 0.00 0 0.00 Dealer floorplans 0 0.00 0 0.00 Commercial other 0 0.00 300 0.09 Commercial loans 0 0.00 300 0.02 Real estate mortgage 209 0.02 0 0.00 Home equity lines 43 0.03 116 0.09 Residential loans 252 0.02 116 0.01 Consumer direct 0 0.00 0 0.00 Consumer indirect 0 0.00 0 0.00 Consumer loans 0 0.00 0 0.00 Loans and lease financing $ 252 0.01 % $ 416 0.01 % Those loans, segregated by class of loans and concession granted, are presented below for the six months ended June 30, 2023: Interest Rate Reduction Term Extension (in thousands) Amortized Cost at June 30, 2023 % of total Amortized Cost at June 30, 2023 % of total Hotel/motel $ 0 0.00 % $ 0 0.00 % Commercial real estate residential 311 0.08 1,383 0.35 Commercial real estate nonresidential 4,573 0.58 4,800 0.61 Dealer floorplans 0 0.00 0 0.00 Commercial other 0 0.00 1,474 0.46 Commercial loans 4,884 0.25 7,657 0.39 Real estate mortgage 58 0.01 3,317 0.38 Home equity lines 0 0.00 54 0.04 Residential loans 58 0.01 3,371 0.33 Consumer direct 0 0.00 224 0.14 Consumer indirect 0 0.00 450 0.06 Consumer loans 0 0.00 674 0.07 Loans and lease financing $ 4,942 0.13 % $ 11,702 0.30 % Combination – Term Extension and Interest Rate Reduction Payment Change (in thousands) Amortized Cost at June 30, 2023 % of total Amortized Cost at June 30, 2023 % of total Hotel/motel $ 0 0.00 % $ 0 0.00 % Commercial real estate residential 88 0.02 0 0.00 Commercial real estate nonresidential 0 0.00 0 0.00 Dealer floorplans 0 0.00 0 0.00 Commercial other 0 0.00 300 0.09 Commercial loans 88 0.00 300 0.02 Real estate mortgage 427 0.05 0 0.00 Home equity lines 77 0.06 116 0.09 Residential loans 504 0.05 116 0.01 Consumer direct 0 0.00 20 0.01 Consumer indirect 0 0.00 0 0.00 Consumer loans 0 0.00 20 0.00 Loans and lease financing $ 592 0.02 % $ 436 0.01 % |
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty | The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty for the three months ended June 30, 2023: Loan Type Interest Rate Reduction Financial Impact Term Extension Financial Impact Hotel/motel Commercial real estate residential Added a weighted-average 11.7 years to life of the loans Commercial real estate nonresidential Reduced weighted-average contractual interest rate from 10.8% to 8.5% Dealer floorplans Commercial other Added a weighted-average 0.8 years to life of the loans Real estate mortgage Added a weighted-average 4 years to life of the loans Home equity lines Consumer direct Added a weighted-average 0.2 years to the life of the loans Consumer indirect Added a weighted-average 0.5 years to the life of the loans Loan Type Combination – Term Extension and Interest Rate Reduction Payment Changes Financial Impact Hotel/motel Commercial real estate residential Commercial real estate nonresidential Dealer floorplans Commercial other Provided payment changes that will be added to the end of the original loan term Real estate mortgage Reduced weighted-average contractual interest rate from 6.8% to 6.2% and increased the weighted-average life by 9.7 years Home equity lines Reduced weighted-average contractual interest rate from 10.3% to 8.3% and increased the weighted-average life by 14.3 years Provided payment changes that will be added to the end of the original loan term Consumer direct Consumer indirect The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty for the six months ended June 30, 2023: Loan Type Interest Rate Reduction Financial Impact Term Extension Financial Impact Hotel/motel Commercial real estate residential Reduced weighted-average contractual interest rate from 9.6% to 8.0% The weighted-average term was not increased with the changes to this portfolio Commercial real estate nonresidential Reduced weighted-average contractual interest rate from 9.5% to 7.5% The weighted-average term was not increased with the changes to this portfolio Dealer floorplans Commercial other Added a weighted-average 1.4 years to life of the loans Real estate mortgage Resulted in no change of the weighted average contractual interest rate of 3.0% Added a weighted-average 2.8 years to life of the loans Home equity lines Added a weighted-average 6.8 years to life of the loans Consumer direct Removed a weighted-average 0.6 years from the life of the loans Consumer indirect Added a weighted-average 0.3 years to the life of the loans Loan Type Combination – Term Extension and Interest Rate Reduction Financial Impact Payment Changes Financial Impact Hotel/motel Commercial real estate residential Reduced weighted-average contractual interest rate from 10.4% to 7.2% and increased the weighted-average life by 5.9 years Commercial real estate nonresidential Dealer floorplans Commercial other Provided payment changes that will be added to the end of the original loan term Real estate mortgage Reduced weighted-average contractual interest rate from 7.1% to 6.1% and increased the weighted-average life by 11.3 years Home equity lines Reduced weighted-average contractual interest rate from 9.1% to 8.0% and increased the weighted-average life by 10.2 years Provided payment changes that will be added to the end of the original loan term Consumer direct Provided payment changes that will be added to the end of the original loan term Consumer indirect |
Troubled Debt Restructuring | Presented below, segregated by class of loans, are TDRs that occurred during the three and six months ended June 30, 2022 and the year ended December 31, 2022: Three Months Ended June 30, 2022 Pre-Modification Outstanding Balance (in s) Number of Loans Term Modification Combination Total Modification Hotel/motel 0 $ 0 $ 0 $ 0 Commercial real estate residential 0 0 0 0 Commercial real estate nonresidential 0 0 0 0 Commercial other 5 5,562 0 5,562 Total commercial loans 5 5,562 0 5,562 Real estate mortgage 1 305 0 305 Total residential loans 1 305 0 305 Total troubled debt restructurings 6 $ 5,867 $ 0 $ 5,867 Three Months Ended June 30, 2022 Post-Modification Outstanding Balance (in s) Number of Loans Term Modification Combination Total Modification Hotel/motel 0 $ 0 $ 0 $ 0 Commercial real estate residential 0 0 0 0 Commercial real estate nonresidential 0 0 0 0 Commercial other 5 5,562 0 5,562 Total commercial loans 5 5,562 0 5,562 Real estate mortgage 1 305 0 305 Total residential loans 1 305 0 305 Total troubled debt restructurings 6 $ 5,867 $ 0 $ 5,867 Six Months Ended June 30, 2022 Pre-Modification Outstanding Balance (in s) Number of Loans Term Modification Combination Total Modification Hotel/motel 0 $ 0 $ 0 $ 0 Commercial real estate residential 2 154 0 154 Commercial real estate nonresidential 2 245 0 245 Commercial other 9 6,526 0 6,526 Total commercial loans 13 6,925 0 6,925 Real estate mortgage 3 305 916 1,221 Total residential loans 3 305 916 1,221 Total troubled debt restructurings 16 $ 7,230 $ 916 $ 8,146 Six Months Ended June 30, 2022 Post-Modification Outstanding Balance (in s) Number of Loans Term Modification Combination Total Modification Hotel/motel 0 $ 0 $ 0 $ 0 Commercial real estate residential 2 154 0 154 Commercial real estate nonresidential 2 244 0 244 Commercial other 9 6,525 0 6,525 Total commercial loans 13 6,923 0 6,923 Real estate mortgage 3 305 916 1,221 Total residential loans 3 305 916 1,221 Total troubled debt restructurings 16 $ 7,228 $ 916 $ 8,144 Year Ended December 31, 2022 Pre-Modification Outstanding Balance (in s) Number of Loans Term Modification Combination Other Total Modification Commercial real estate residential 6 $ 659 $ 0 $ 66 $ 725 Commercial real estate nonresidential 8 1,206 0 118 1,324 Hotel/motel 0 0 0 0 0 Commercial other 22 12,812 0 66 12,878 Total commercial loans 36 14,677 0 250 14,927 Real estate mortgage 5 593 1,309 0 1,902 Total residential loans 5 593 1,309 0 1,902 Total troubled debt restructurings 41 $ 15,270 $ 1,309 $ 250 $ 16,829 Year Ended December 31, 2022 Post-Modification Outstanding Balance (in s) Number of Loans Term Modification Combination Other Total Modification Commercial real estate residential 6 $ 659 $ 0 $ 66 $ 725 Commercial real estate nonresidential 8 1,342 0 118 1,460 Hotel/motel 0 0 0 0 0 Commercial other 22 12,811 0 66 12,877 Total commercial loans 36 14,812 0 250 15,062 Real estate mortgage 5 593 1,309 0 1,902 Total residential loans 5 593 1,309 0 1,902 Total troubled debt restructurings 41 $ 15,405 $ 1,309 $ 250 $ 16,964 |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty | The table below represents the payment status of modified loans to borrowers experiencing financial difficulty. Past Due Status (Amortized Cost Basis) Current 30-89 Days 90+ Days Nonaccrual Hotel/motel $ 0 $ 0 $ 0 $ 0 Commercial real estate residential 1,741 40 0 0 Commercial real estate nonresidential 9,373 0 0 0 Dealer floorplans 0 0 0 0 Commercial other 1,145 292 0 337 Real estate mortgage 3,374 125 118 185 Home equity lines 168 59 0 22 Consumer direct 239 5 0 0 Consumer indirect 371 78 0 0 Total $ 16,411 $ 599 $ 118 $ 544 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Other Real Estate Owned [Abstract] | |
Activity for Other Real Estate Owned | Activity for other real estate owned was as follows: Three Months Ended Six Months Ended June 30 June 30 (in thousands) 2023 2022 2023 2022 Beginning balance of other real estate owned $ 2,776 $ 2,299 $ 3,671 $ 3,486 New assets acquired 124 307 175 444 Capitalized costs 40 73 40 73 Fair value adjustments (25 ) (23 ) (106 ) (269 ) Sale of assets (868 ) (702 ) (1,733 ) (1,780 ) Ending balance of other real estate owned $ 2,047 $ 1,954 $ 2,047 $ 1,954 |
Major Classifications of Foreclosed Properties | The major classifications of foreclosed properties are shown in the following table: (in thousands) June 30 2023 December 31 2022 1-4 family $ 574 $ 859 Construction/land development/other 683 867 Non-farm/non-residential 790 1,945 Total foreclosed properties $ 2,047 $ 3,671 |
Repurchase Agreements (Tables)
Repurchase Agreements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Repurchase Agreements [Abstract] | |
Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase by Class of Collateral Pledged | The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in the accompanying consolidated balance sheets as of June 30, 2023 is presented in the following tables: June 30, 2023 Remaining Contractual Maturity of the Agreements (in thousands) Overnight and Continuous Up to 30 days 30-90 days Greater Than 90 days Total Repurchase agreements and repurchase-to-maturity transactions: U.S. Treasury and government agencies $ 19,951 $ 2,000 $ 0 $ 22,608 $ 44,559 State and political subdivisions 99,257 1,391 0 7,898 108,546 U.S. government sponsored agency mortgage-backed securities 23,552 7,609 0 43,633 74,794 Asset-backed securities 1,121 0 0 0 1,121 Total $ 143,881 $ 11,000 $ 0 $ 74,139 $ 229,020 December 31, 2022 Remaining Contractual Maturity of the Agreements (in thousands) Overnight and Continuous Up to 30 days 30-90 days Greater Than 90 days Total Repurchase agreements and repurchase-to-maturity transactions: U.S. Treasury and government agencies $ 21,679 $ 34 $ 2,979 $ 1,832 $ 26,524 State and political subdivisions 96,627 466 9,634 2,140 108,867 U.S. government sponsored agency mortgage-backed securities 17,964 0 52,387 9,385 79,736 Asset-backed securities 304 0 0 0 304 Total $ 136,574 $ 500 $ 65,000 $ 13,357 $ 215,431 |
Fair Value of Financial Asset_2
Fair Value of Financial Assets and Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value of Financial Assets and Liabilities [Abstract] | |
Fair Value Measurements of Assets Measured on Recurring Basis | The following tables present the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 and indicate the level within the fair value hierarchy of the valuation techniques. Fair Value Measurements at June 30, 2023 Using (in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured – recurring basis Available-for-sale securities: U.S. Treasury and government agencies $ 365,394 $ 341,199 $ 24,195 $ 0 State and political subdivisions 259,825 0 259,825 0 U.S. government sponsored agency mortgage-backed securities 487,899 0 487,899 0 Asset-backed securities 88,135 0 88,135 0 Equity securities at fair value 2,545 0 0 2,545 Mortgage servicing rights 8,230 0 0 8,230 Fair Value Measurements at December 31, 2022 Using (in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured – recurring basis Available-for-sale securities: U.S. Treasury and government agencies $ 381,932 $ 346,265 $ 35,667 $ 0 State and political subdivisions 265,102 0 265,102 0 U.S. government sponsored agency mortgage-backed securities 520,085 0 520,085 0 Asset-backed securities 89,107 0 89,107 0 Equity securities at fair value 2,166 0 0 2,166 Mortgage servicing rights 8,468 0 0 8,468 |
Reconciliation of the Beginning and Ending Balance of Recurring Fair Value Measurements Using Significant Unobservable (Level 3) Inputs | Following is a reconciliation of the beginning and ending balances of recurring fair value measurements, for the periods indicated, using significant unobservable (Level 3) inputs: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 (in thousands) Equity Securities at Fair Value Mortgage Servicing Rights Equity Securities at Fair Value Mortgage Servicing Rights Beginning balance $ 2,380 $ 8,121 $ 2,352 $ 7,748 Total unrealized gains (losses) Included in net income 165 80 (224 ) 468 Issues 0 46 0 223 Settlements 0 (17 ) 0 (219 ) Ending balance $ 2,545 $ 8,230 $ 2,128 $ 8,220 Total gains (losses) for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date $ 165 $ 80 $ (224 ) $ 468 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (in thousands) Equity Securities at Fair Value Mortgage Servicing Rights Equity Securities at Fair Mortgage Servicing Rights Beginning balance $ 2,166 $ 8,468 $ 2,253 $ 6,774 Total unrealized gains (losses) Included in net income 379 (134 ) (125 ) 1,451 Issues 0 96 0 452 Settlements 0 (200 ) 0 (457 ) Ending balance $ 2,545 $ 8,230 $ 2,128 $ 8,220 Total gains (losses) for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date $ 379 $ (134 ) $ (125 ) $ 1,451 |
Realized and Unrealized Gains and Losses for Items Included in Net Income in the Consolidated Statements of Income | Realized and unrealized gains and losses for items reflected in the table above are included in net income in the consolidated statements of income as follows: Noninterest Income Three Months Ended Six Months Ended June 30 June 30 (in thousands) 2023 2022 2023 2022 Total gains $ 227 $ 25 $ 44 $ 869 |
Fair Value Measurements of Assets Measured on Nonrecurring Basis | The following tables present the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a nonrecurring basis as of June 30, 2023 and December 31, 2022 and indicate the level within the fair value hierarchy of Fair Value Measurements at June 30, 2023 Using (in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured – nonrecurring basis Other real estate owned $ 177 $ 0 $ 0 $ 177 Fair Value Measurements at December 31, 2022 Using (in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured – nonrecurring basis Collateral dependent loans $ 2,703 $ 0 $ 0 $ 2,703 Other real estate owned 570 0 0 570 |
Quantitative Information About Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements | The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements at June 30, 2023 and December 31, 2022. Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value at June 30, 2023 Valuation Technique(s) Unobservable Input Range (Weighted Average) Equity securities at fair value $ 2,545 Discount cash flows, computer pricing model Discount rate 8.0% - 12.0% (10.0%) Conversion date Dec 2025 Dec 2029 ( Dec 2027 Mortgage servicing rights $ 8,230 Discount cash flows, computer pricing model Constant prepayment rate 0.0% - 26.7% (7.4%) Probability of default 0.0% - 100% (1.3%) Discount rate 9.5% - 11.5% (10.0%) Other real estate owned $ 177 Market comparable properties Comparability adjustments 0.0% - 10.0% (10.0%) Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value at December 31, 2022 Valuation Technique(s) Unobservable Input Range (Weighted Average) Equity securities at fair value $ 2,166 Discount cash flows, computer pricing model Discount rate 8.0% - 12.0% (10.0%) Conversion date Dec 2025 Dec 2029 ( Dec 2027 Mortgage servicing rights $ 8,468 Discount cash flows, computer pricing model Constant prepayment rate 6.5% - 28.0% (7.1%) Probability of default 0.0% - 100.0% (1.2%) Discount rate 9.5% - 12.0% (10.0%) Collateral-dependent loans $ 2,703 Market comparable properties Marketability discount 52.0% - 52.0% (52.0%) Other real estate owned $ 570 Market comparable properties Comparability adjustments 10.0% - 30.6% (10.9%) |
Fair Value of Financial Instruments and Levels within Fair Value Hierarchy of Valuation Techniques | The following table presents estimated fair value of CTBI’s financial instruments as of June 30, 2023 and indicates the level within the fair value hierarchy of the valuation techniques. In accordance with the adoption of ASU 2016-01, the fair values as of June 30, 2023 were measured using an exit price notion. Fair Value Measurements at June 30, 2023 Using (in thousands) Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 109,545 $ 109,545 $ 0 $ 0 Certificates of deposit in other banks 245 0 245 0 Debt securities available-for-sale 1,201,253 341,199 860,054 0 Equity securities at fair value 2,545 0 0 2,545 Loans held for sale 238 244 0 0 Loans, net 3,881,677 0 0 3,717,729 Federal Home Loan Bank stock 6,545 0 6,545 0 Federal Reserve Bank stock 4,887 0 4,887 0 Accrued interest receivable 20,257 0 20,257 0 Financial liabilities: Deposits $ 4,516,660 $ 1,361,078 $ 3,163,628 $ 0 Repurchase agreements 229,020 0 0 229,277 Federal funds purchased 500 0 500 0 Advances from Federal Home Loan Bank 345 0 242 0 Long-term debt 64,350 0 0 52,043 Accrued interest payable 5,624 0 5,624 0 Unrecognized financial instruments: Letters of credit $ 0 $ 0 $ 0 $ 0 Commitments to extend credit 0 0 0 0 Forward sale commitments 0 0 0 0 The following table presents estimated fair value of CTBI’s financial instruments as of December 31, 2022 and indicates the level within the fair value hierarchy of the valuation techniques. Fair Value Measurements at December 31, 2022 Using (in thousands) Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 128,686 $ 128,686 $ 0 $ 0 Certificates of deposit in other banks 245 0 245 0 Debt securities available-for-sale 1,256,226 346,265 909,961 0 Equity securities at fair value 2,166 0 0 2,166 Loans held for sale 109 112 0 0 Loans, net 3,663,309 0 0 3,511,810 Federal Home Loan Bank stock 6,676 0 6,676 0 Federal Reserve Bank stock 4,887 0 4,887 0 Accrued interest receivable 19,592 0 19,592 0 Financial liabilities: Deposits $ 4,426,143 $ 1,394,915 $ 3,050,144 $ 0 Repurchase agreements 215,431 0 0 215,542 Federal funds purchased 500 0 500 0 Advances from Federal Home Loan Bank 355 0 380 0 Long-term debt 57,841 0 0 55,860 Accrued interest payable 2,237 0 2,237 0 Unrecognized financial instruments: Letters of credit $ 0 $ 0 $ 0 $ 0 Commitments to extend credit 0 0 0 0 Forward sale commitments 0 0 0 0 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended Six Months Ended June 30 June 30 (in thousands except per share data) 2023 2022 2023 2022 Numerator: Net income $ 19,404 $ 20,271 $ 38,717 $ 39,999 Denominator: Basic earnings per share: Weighted average shares 17,884 17,835 17,877 17,827 Diluted earnings per share: Effect of dilutive stock options and restricted stock grants 6 8 8 11 Adjusted weighted average shares 17,890 17,843 17,885 17,838 Earnings per share: Basic earnings per share $ 1.09 $ 1.14 $ 2.17 $ 2.24 Diluted earnings per share 1.08 1.14 2.16 2.24 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (AOCI) | Amounts reclassified from accumulated other comprehensive income (loss) (“AOCI”) and the affected line items in the statements of income during the three and six months ended June 30, 2023 and 2022 were: Amounts Reclassified from AOCI (in thousands) Three Months Ended June 30 Six Months Ended June 30 2023 2022 2023 2022 Affected line item in the statements of income Securities gains (losses) $ 0 $ (1 ) $ 4 $ (1 ) Tax expense (benefit) 0 0 1 0 Total reclassifications out of AOCI $ 0 $ (1 ) $ 3 $ (1 ) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 USD ($) Payment | Dec. 31, 2022 USD ($) | |
Investments [Abstract] | ||
ACL for AFS debt securities | $ 0 | $ 0 |
Securities held-to-maturity | $ 0 | 0 |
Loans [Abstract] | ||
Past due period after which loans must be well secured and in the process of collection to continue accruing interest | 90 days | |
Period of current principal and interest payments for reclassifying nonaccrual loans as accruing loans | 6 months | |
Allowance for Credit Losses [Abstract] | ||
Impact of difference in amortized cost basis versus consideration of loan balances on allowance for credit losses | 0.01% | |
Number of delinquent monthly payments before loan charge off | Payment | 5 | |
Current value assessment period for past due loans secured against real estate | 90 days | |
Threshold period past due for initiation of foreclosure proceedings | 120 days | |
Goodwill and Core Deposit Intangible [Abstract] | ||
Goodwill | $ 65,490 | $ 65,490 |
Minimum [Member] | ||
Allowance for Credit Losses [Abstract] | ||
Percentage exposure of capital | 5% | |
Commercial [Member] | ||
Allowance for Credit Losses [Abstract] | ||
Threshold period past due for individual evaluations | 90 days | |
Commercial [Member] | 90+ Days Past Due [Member] | Minimum [Member] | ||
Allowance for Credit Losses [Abstract] | ||
Threshold outstanding loan balance for individual evaluations | $ 1,000 | |
Commercial [Member] | Nonaccrual Status [Member] | Minimum [Member] | ||
Allowance for Credit Losses [Abstract] | ||
Threshold outstanding loan balance for individual evaluations | 1,000 | |
Threshold amount of outstanding loan balance for specific reserve to be created | 1,000 | |
Commercial [Member] | Borrower Experiencing Financial Difficulty [Member] | Minimum [Member] | ||
Allowance for Credit Losses [Abstract] | ||
Threshold outstanding loan balance for individual evaluations | 1,000 | |
Threshold amount of outstanding loan balance for specific reserve to be created | 1,000 | |
Commercial [Member] | Criticized [Member] | Minimum [Member] | ||
Allowance for Credit Losses [Abstract] | ||
Threshold outstanding loan balance for individual evaluations | 1,000 | |
Threshold amount of outstanding loan balance for specific reserve to be created | $ 1,000 | |
Commercial [Member] | Unsecured Commercial Loan [Member] | ||
Allowance for Credit Losses [Abstract] | ||
Charge off threshold for loans considered uncollectible | 90 days | |
Consumer [Member] | Closed-End Consumer Loan [Member] | ||
Allowance for Credit Losses [Abstract] | ||
Charge off threshold for loans considered uncollectible | 120 days |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Stock-based Compensation [Abstract] | |||||
Stock based compensation expense | $ 788 | $ 742 | |||
Restricted Stock [Member] | |||||
Stock-based Compensation [Abstract] | |||||
Stock based compensation expense | $ 411 | $ 258 | 788 | 742 | |
Dividend paid on stock based compensation | 44 | $ 24 | 88 | $ 46 | |
Unrecognized compensation expense related to restricted stock grants | $ 3,700 | $ 3,700 | |||
Unrecognized compensation expense, weighted average period | 3 years 4 months 24 days | ||||
Granted (in shares) | 0 | 5,000 | 52,865 | 40,438 | |
Forfeited (in shares) | 0 | 0 | 790 | 0 | |
Stock Options [Member] | |||||
Stock-based Compensation [Abstract] | |||||
Stock based compensation expense | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized compensation expense related to unvested stock option awards | $ 0 | $ 0 | |||
Options granted to purchase shares of CTBI common stock (in shares) | 0 | 0 | |||
2015 Plan [Member] | Restricted Stock [Member] | |||||
Stock-based Compensation [Abstract] | |||||
Award vesting period | 4 years | ||||
2015 Plan [Member] | Restricted Stock [Member] | Maximum [Member] | |||||
Stock-based Compensation [Abstract] | |||||
Period of certain participant employee termination events following change in control for restriction on restricted stock granted to lapse | 24 months | ||||
2015 Plan [Member] | Management Retention Restricted Stock [Member] | |||||
Stock-based Compensation [Abstract] | |||||
Granted (in shares) | 5,000 | ||||
Award vesting period | 5 years |
Securities, Held-to-maturity Se
Securities, Held-to-maturity Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Held-to-maturity [Abstract] | ||
Securities held-to-maturity | $ 0 | $ 0 |
Securities, Available-for-sale
Securities, Available-for-sale Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Available-for-sale [Abstract] | ||
Amortized cost | $ 1,362,748 | $ 1,430,605 |
Gross unrealized gains | 146 | 245 |
Gross unrealized losses | (161,641) | (174,624) |
Fair value | 1,201,253 | 1,256,226 |
U.S. Treasury and Government Agencies [Member] | ||
Available-for-sale [Abstract] | ||
Amortized cost | 400,148 | 418,579 |
Gross unrealized gains | 143 | 212 |
Gross unrealized losses | (34,897) | (36,859) |
Fair value | 365,394 | 381,932 |
State and Political Subdivisions [Member] | ||
Available-for-sale [Abstract] | ||
Amortized cost | 314,048 | 326,746 |
Gross unrealized gains | 2 | 32 |
Gross unrealized losses | (54,225) | (61,676) |
Fair value | 259,825 | 265,102 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | ||
Available-for-sale [Abstract] | ||
Amortized cost | 558,964 | 593,917 |
Gross unrealized gains | 1 | 1 |
Gross unrealized losses | (71,066) | (73,833) |
Fair value | 487,899 | 520,085 |
Asset-backed Securities [Member] | ||
Available-for-sale [Abstract] | ||
Amortized cost | 89,588 | 91,363 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (1,453) | (2,256) |
Fair value | $ 88,135 | $ 89,107 |
Securities, Amortized Cost and
Securities, Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Available-for-sale, amortized cost [Abstract] | ||
Due in one year or less | $ 33,089 | |
Due after one through five years | 336,248 | |
Due after five through ten years | 169,173 | |
Due after ten years | 175,686 | |
Amortized cost | 1,362,748 | $ 1,430,605 |
Available for sale, fair value [Abstract] | ||
Due in one year or less | 32,613 | |
Due after one through five years | 305,693 | |
Due after five through ten years | 145,760 | |
Due after ten years | 141,153 | |
Fair value | 1,201,253 | 1,256,226 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | ||
Available-for-sale, amortized cost [Abstract] | ||
Without single maturity date | 558,964 | |
Amortized cost | 558,964 | 593,917 |
Available for sale, fair value [Abstract] | ||
Without single maturity date | 487,899 | |
Fair value | 487,899 | 520,085 |
Asset-backed Securities [Member] | ||
Available-for-sale, amortized cost [Abstract] | ||
Without single maturity date | 89,588 | |
Amortized cost | 89,588 | 91,363 |
Available for sale, fair value [Abstract] | ||
Without single maturity date | 88,135 | |
Fair value | $ 88,135 | $ 89,107 |
Securities, Gains (Loss) on Sec
Securities, Gains (Loss) on Securities, Securities Pledged, and Securities Sold Under Agreements to Repurchase (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 USD ($) shares | Dec. 31, 2022 USD ($) | |
Gains (Loss) on Sales of Securities [Abstract] | |||||
Net securities gain (loss) | $ 165 | $ (225) | $ 383 | $ (126) | |
Realized pre-tax gain (loss) on sales and calls of AFS securities | (1) | 4 | (1) | ||
Unrealized (loss) gain from fair value adjustment of equity securities | 165 | (224) | 379 | $ (125) | |
Equity Securities at Fair Value [Abstract] | |||||
Equity securities at fair value | 2,545 | 2,545 | $ 2,166 | ||
Amortized cost of securities sold under agreements to repurchase | 342,900 | 342,900 | 316,900 | ||
Asset Pledged as Collateral [Member] | Public Deposits and for Other Purposes [Member] | |||||
Equity Securities at Fair Value [Abstract] | |||||
Securities | 744,400 | 744,400 | $ 725,000 | ||
Visa Class B Restricted Stock [Member] | |||||
Equity Securities at Fair Value [Abstract] | |||||
Equity securities at fair value | 2,500 | $ 2,500 | |||
Increase (decrease) in fair value of equity securities | $ 165 | $ (224) | |||
Number of equity securities sold (in shares) | shares | 0 | 0 |
Securities, Securities in Conti
Securities, Securities in Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Securities [Abstract] | ||
Percentage of total investment with unrealized losses | 98.70% | 97.40% |
Available-for-sale, amortized cost [Abstract] | ||
Less than 12 months | $ 93,214 | $ 416,778 |
12 months or more | 1,254,300 | 981,280 |
Total | 1,347,514 | 1,398,058 |
Available-for-sale, gross unrealized losses [Abstract] | ||
Less than 12 months | (3,309) | (21,324) |
12 months or more | (158,332) | (153,300) |
Total | (161,641) | (174,624) |
Available-for-sale, fair value [Abstract] | ||
Less than 12 months | 89,905 | 395,454 |
12 months or more | 1,095,968 | 827,980 |
Total | 1,185,873 | 1,223,434 |
U.S. Treasury and Government Agencies [Member] | ||
Available-for-sale, amortized cost [Abstract] | ||
Less than 12 months | 7,188 | 144,305 |
12 months or more | 380,143 | 249,424 |
Total | 387,331 | 393,729 |
Available-for-sale, gross unrealized losses [Abstract] | ||
Less than 12 months | (10) | (6,953) |
12 months or more | (34,887) | (29,906) |
Total | (34,897) | (36,859) |
Available-for-sale, fair value [Abstract] | ||
Less than 12 months | 7,178 | 137,352 |
12 months or more | 345,256 | 219,518 |
Total | 352,434 | 356,870 |
State and Political Subdivisions [Member] | ||
Available-for-sale, amortized cost [Abstract] | ||
Less than 12 months | 34,386 | 94,277 |
12 months or more | 277,291 | 225,019 |
Total | 311,677 | 319,296 |
Available-for-sale, gross unrealized losses [Abstract] | ||
Less than 12 months | (1,493) | (6,257) |
12 months or more | (52,732) | (55,419) |
Total | (54,225) | (61,676) |
Available-for-sale, fair value [Abstract] | ||
Less than 12 months | 32,893 | 88,020 |
12 months or more | 224,559 | 169,600 |
Total | 257,452 | 257,620 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | ||
Available-for-sale, amortized cost [Abstract] | ||
Less than 12 months | 51,640 | 139,314 |
12 months or more | 507,278 | 454,357 |
Total | 558,918 | 593,671 |
Available-for-sale, gross unrealized losses [Abstract] | ||
Less than 12 months | (1,806) | (6,883) |
12 months or more | (69,260) | (66,950) |
Total | (71,066) | (73,833) |
Available-for-sale, fair value [Abstract] | ||
Less than 12 months | 49,834 | 132,431 |
12 months or more | 438,018 | 387,407 |
Total | 487,852 | 519,838 |
Asset-backed Securities [Member] | ||
Available-for-sale, amortized cost [Abstract] | ||
Less than 12 months | 0 | 38,882 |
12 months or more | 89,588 | 52,480 |
Total | 89,588 | 91,362 |
Available-for-sale, gross unrealized losses [Abstract] | ||
Less than 12 months | 0 | (1,231) |
12 months or more | (1,453) | (1,025) |
Total | (1,453) | (2,256) |
Available-for-sale, fair value [Abstract] | ||
Less than 12 months | 0 | 37,651 |
12 months or more | 88,135 | 51,455 |
Total | $ 88,135 | $ 89,106 |
Loans, Major Classifications of
Loans, Major Classifications of Loans, Net of Income and Deferred Loan Origination Cost (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 USD ($) Segment | Dec. 31, 2022 USD ($) | |
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | $ 3,929,695 | $ 3,709,290 |
Unearned fees | $ 1,000 | 1,000 |
Number of portfolio segments | Segment | 9 | |
Loans held for sale [Abstract] | ||
Loans held for sale | $ 238 | 109 |
Commercial [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 1,950,629 | 1,868,858 |
Commercial [Member] | Hotel/Motel [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | $ 372,981 | 343,640 |
Percentage of total loan | 9.50% | |
Commercial [Member] | Commercial Real Estate Residential [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | $ 393,309 | 372,914 |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 787,598 | 762,349 |
Commercial [Member] | Dealer Floorplans [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 76,903 | 77,533 |
Commercial [Member] | Commercial Other [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 319,838 | 312,422 |
Residential [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 1,015,137 | 945,536 |
Residential [Member] | Real Estate Mortgage [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 883,104 | 824,996 |
Residential [Member] | Home Equity Lines [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 132,033 | 120,540 |
Consumer [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 963,929 | 894,896 |
Consumer [Member] | Consumer Direct [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 157,848 | 157,504 |
Consumer [Member] | Consumer Indirect [Member] | ||
Major Classification of Loans Net of Unearned Income, Deferred Loan Origination Costs and Net Premiums on Acquired Loans [Abstract] | ||
Loans and lease financing | 806,081 | 737,392 |
Unamortized premiums | $ 30,900 | $ 28,500 |
Loans, Reserve Estimates in ACL
Loans, Reserve Estimates in ACL (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | $ 48,018 | $ 46,683 | $ 45,981 | $ 42,344 | $ 42,309 | $ 41,756 |
CTBI Internal ACL Model | 47,907 | |||||
Change in Allocation | 111 | |||||
Commercial [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 24,071 | |||||
CTBI Internal ACL Model | 25,767 | |||||
Change in Allocation | (1,696) | |||||
Commercial [Member] | Hotel/Motel [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 5,192 | 5,287 | 5,171 | 4,844 | 4,711 | 5,080 |
CTBI Internal ACL Model | 6,038 | |||||
Change in Allocation | (846) | |||||
Commercial [Member] | Commercial Real Estate Residential [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 3,749 | 5,157 | 4,894 | 4,200 | 4,070 | 3,986 |
CTBI Internal ACL Model | 4,669 | |||||
Change in Allocation | (920) | |||||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 7,797 | 9,010 | 9,419 | 8,968 | 9,169 | 8,884 |
CTBI Internal ACL Model | 8,794 | |||||
Change in Allocation | (997) | |||||
Commercial [Member] | Dealer Floorplans [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 1,157 | 1,694 | 1,776 | 1,477 | 1,519 | 1,436 |
CTBI Internal ACL Model | 1,719 | |||||
Change in Allocation | (562) | |||||
Commercial [Member] | Commercial Other [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 6,176 | 4,782 | 5,285 | 4,473 | 4,844 | 4,422 |
CTBI Internal ACL Model | 4,547 | |||||
Change in Allocation | 1,629 | |||||
Residential [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 8,992 | |||||
CTBI Internal ACL Model | 9,508 | |||||
Change in Allocation | (516) | |||||
Residential [Member] | Real Estate Mortgage [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 7,884 | 7,917 | 7,932 | 8,179 | 7,662 | 7,637 |
CTBI Internal ACL Model | 8,443 | |||||
Change in Allocation | (559) | |||||
Residential [Member] | Home Equity Lines [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 1,108 | 1,044 | 1,106 | 887 | 819 | 866 |
CTBI Internal ACL Model | 1,065 | |||||
Change in Allocation | 43 | |||||
Consumer [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 14,955 | |||||
CTBI Internal ACL Model | 12,632 | |||||
Change in Allocation | 2,323 | |||||
Consumer [Member] | Consumer Direct [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 2,563 | 1,746 | 1,694 | 1,621 | 1,787 | 1,951 |
CTBI Internal ACL Model | 1,673 | |||||
Change in Allocation | 890 | |||||
Consumer [Member] | Consumer Indirect [Member] | ||||||
Loans and Lease Financing Allowance for Credit Loss [Abstract] | ||||||
ACL Software | 12,392 | $ 10,046 | $ 8,704 | $ 7,695 | $ 7,728 | $ 7,494 |
CTBI Internal ACL Model | 10,959 | |||||
Change in Allocation | $ 1,433 |
Loans, Balance in ACL (Details)
Loans, Balance in ACL (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Balance in ACL [Roll Forward] | |||||
Beginning balance | $ 46,683 | $ 42,309 | $ 45,981 | $ 41,756 | $ 41,756 |
Provision charged to expense | 2,009 | 77 | 3,125 | 952 | 4,905 |
Losses charged off | (1,953) | (828) | (3,718) | (2,148) | (5,346) |
Recoveries | 1,279 | 786 | 2,630 | 1,784 | 4,666 |
Ending balance | 48,018 | 42,344 | 48,018 | 42,344 | 45,981 |
Commercial [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Losses charged off | (1,297) | ||||
Ending balance | 24,071 | 24,071 | |||
Commercial [Member] | Hotel/Motel [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Beginning balance | 5,287 | 4,711 | 5,171 | 5,080 | 5,080 |
Provision charged to expense | (95) | 133 | 21 | (20) | 307 |
Losses charged off | 0 | 0 | 0 | (216) | (216) |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Ending balance | 5,192 | 4,844 | 5,192 | 4,844 | 5,171 |
Commercial [Member] | Commercial Real Estate Residential [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Beginning balance | 5,157 | 4,070 | 4,894 | 3,986 | 3,986 |
Provision charged to expense | (1,384) | 124 | (1,198) | 234 | 951 |
Losses charged off | (28) | 0 | (28) | (31) | (92) |
Recoveries | 4 | 6 | 81 | 11 | 49 |
Ending balance | 3,749 | 4,200 | 3,749 | 4,200 | 4,894 |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Beginning balance | 9,010 | 9,169 | 9,419 | 8,884 | 8,884 |
Provision charged to expense | (1,393) | (223) | (1,946) | (49) | (154) |
Losses charged off | (9) | 0 | (9) | 0 | (46) |
Recoveries | 189 | 22 | 333 | 133 | 735 |
Ending balance | 7,797 | 8,968 | 7,797 | 8,968 | 9,419 |
Commercial [Member] | Dealer Floorplans [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Beginning balance | 1,694 | 1,519 | 1,776 | 1,436 | 1,436 |
Provision charged to expense | (537) | (42) | (619) | 41 | 340 |
Losses charged off | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Ending balance | 1,157 | 1,477 | 1,157 | 1,477 | 1,776 |
Commercial [Member] | Commercial Other [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Beginning balance | 4,782 | 4,844 | 5,285 | 4,422 | 4,422 |
Provision charged to expense | 2,387 | (285) | 1,971 | 193 | 947 |
Losses charged off | (1,073) | (187) | (1,260) | (344) | (1,082) |
Recoveries | 80 | 101 | 180 | 202 | 998 |
Ending balance | 6,176 | 4,473 | 6,176 | 4,473 | 5,285 |
Residential [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Losses charged off | (108) | ||||
Ending balance | 8,992 | 8,992 | |||
Residential [Member] | Real Estate Mortgage [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Beginning balance | 7,917 | 7,662 | 7,932 | 7,637 | 7,637 |
Provision charged to expense | 10 | 586 | 31 | 683 | 466 |
Losses charged off | (55) | (84) | (95) | (177) | (223) |
Recoveries | 12 | 15 | 16 | 36 | 52 |
Ending balance | 7,884 | 8,179 | 7,884 | 8,179 | 7,932 |
Residential [Member] | Home Equity Lines [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Beginning balance | 1,044 | 819 | 1,106 | 866 | 866 |
Provision charged to expense | 76 | 71 | 12 | 38 | 257 |
Losses charged off | (13) | (5) | (13) | (24) | (37) |
Recoveries | 1 | 2 | 3 | 7 | 20 |
Ending balance | 1,108 | 887 | 1,108 | 887 | 1,106 |
Consumer [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Losses charged off | (2,313) | ||||
Ending balance | 14,955 | 14,955 | |||
Consumer [Member] | Consumer Direct [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Beginning balance | 1,746 | 1,787 | 1,694 | 1,951 | 1,951 |
Provision charged to expense | 807 | (65) | 912 | (245) | (210) |
Losses charged off | (82) | (175) | (238) | (345) | (609) |
Recoveries | 92 | 74 | 195 | 260 | 562 |
Ending balance | 2,563 | 1,621 | 2,563 | 1,621 | 1,694 |
Consumer [Member] | Consumer Indirect [Member] | |||||
Balance in ACL [Roll Forward] | |||||
Beginning balance | 10,046 | 7,728 | 8,704 | 7,494 | 7,494 |
Provision charged to expense | 2,138 | (222) | 3,941 | 77 | 2,001 |
Losses charged off | (693) | (377) | (2,075) | (1,011) | (3,041) |
Recoveries | 901 | 566 | 1,822 | 1,135 | 2,250 |
Ending balance | $ 12,392 | $ 7,695 | $ 12,392 | $ 7,695 | $ 8,704 |
Loans, Analysis of Allowance fo
Loans, Analysis of Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | |
Allowance for Credit Losses [Abstract] | |||||
Period of reasonable and supportable forecast | 12 months | ||||
Increase in provision for credit losses | $ 0.9 | $ 1.9 | |||
Allowance for credit losses to nonperforming loans | 408.90% | 408.90% | 408.90% | 382.30% | 305.90% |
Credit loss reserve as percentage of total loans outstanding | 1.22% | 1.22% | 1.22% | 1.24% | 1.19% |
Loans, Nonaccrual Loans Segrega
Loans, Nonaccrual Loans Segregated by Class of Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | $ 0 | $ 0 |
Nonaccrual loans with ACL | 5,345 | 6,813 |
90+ and still accruing | 6,399 | 8,496 |
Nonperforming loans | $ 11,744 | 15,309 |
Past due period after which loans must be well secured and in process of collection to continue accruing interest | 90 days | |
Commercial [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | $ 0 | 0 |
Nonaccrual loans with ACL | 2,057 | 2,453 |
90+ and still accruing | 1,289 | 2,574 |
Nonperforming loans | 3,346 | 5,027 |
Commercial [Member] | Hotel/Motel [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 0 | 0 |
90+ and still accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial [Member] | Commercial Real Estate Residential [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 322 | 355 |
90+ and still accruing | 712 | 258 |
Nonperforming loans | 1,034 | 613 |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 982 | 1,116 |
90+ and still accruing | 300 | 1,947 |
Nonperforming loans | 1,282 | 3,063 |
Commercial [Member] | Commercial Other [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 753 | 982 |
90+ and still accruing | 277 | 369 |
Nonperforming loans | 1,030 | 1,351 |
Residential [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 3,288 | 4,360 |
90+ and still accruing | 4,665 | 5,416 |
Nonperforming loans | 7,953 | 9,776 |
Residential [Member] | Real Estate Mortgage [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 3,093 | 4,069 |
90+ and still accruing | 4,206 | 4,929 |
Nonperforming loans | 7,299 | 8,998 |
Residential [Member] | Home Equity Lines [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 195 | 291 |
90+ and still accruing | 459 | 487 |
Nonperforming loans | 654 | 778 |
Consumer [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 0 | 0 |
90+ and still accruing | 445 | 506 |
Nonperforming loans | 445 | 506 |
Consumer [Member] | Consumer Direct [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 0 | 0 |
90+ and still accruing | 6 | 41 |
Nonperforming loans | 6 | 41 |
Consumer [Member] | Consumer Indirect [Member] | ||
Nonaccrual loans segregated by class of loans [Abstract] | ||
Nonaccrual loans with no ACL | 0 | 0 |
Nonaccrual loans with ACL | 0 | 0 |
90+ and still accruing | 439 | 465 |
Nonperforming loans | $ 439 | $ 465 |
Loans, Loan Portfolio Aging Ana
Loans, Loan Portfolio Aging Analysis, Segregated by Class (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | $ 3,929,695 | $ 3,709,290 |
Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 22,623 | 28,597 |
30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 8,192 | 10,797 |
60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 4,642 | 5,806 |
90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 9,789 | 11,994 |
Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 3,907,072 | 3,680,693 |
Commercial [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,950,629 | 1,868,858 |
Commercial [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 5,668 | 9,331 |
Commercial [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 2,315 | 4,180 |
Commercial [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 719 | 1,470 |
Commercial [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 2,634 | 3,681 |
Commercial [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,944,961 | 1,859,527 |
Commercial [Member] | Hotel/Motel [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | $ 372,981 | 343,640 |
Percentage of total loan | 9.50% | |
Commercial [Member] | Hotel/Motel [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | $ 0 | 0 |
Commercial [Member] | Hotel/Motel [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 0 | 0 |
Commercial [Member] | Hotel/Motel [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 0 | 0 |
Commercial [Member] | Hotel/Motel [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 0 | 0 |
Commercial [Member] | Hotel/Motel [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 372,981 | 343,640 |
Commercial [Member] | Commercial Real Estate Residential [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 393,309 | 372,914 |
Commercial [Member] | Commercial Real Estate Residential [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,431 | 1,401 |
Commercial [Member] | Commercial Real Estate Residential [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 152 | 602 |
Commercial [Member] | Commercial Real Estate Residential [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 279 | 225 |
Commercial [Member] | Commercial Real Estate Residential [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,000 | 574 |
Commercial [Member] | Commercial Real Estate Residential [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 391,878 | 371,513 |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 787,598 | 762,349 |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 2,151 | 5,555 |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,101 | 2,549 |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 110 | 395 |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 940 | 2,611 |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 785,447 | 756,794 |
Commercial [Member] | Dealer Floorplans [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 76,903 | 77,533 |
Commercial [Member] | Dealer Floorplans [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 0 | 0 |
Commercial [Member] | Dealer Floorplans [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 0 | 0 |
Commercial [Member] | Dealer Floorplans [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 0 | 0 |
Commercial [Member] | Dealer Floorplans [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 0 | 0 |
Commercial [Member] | Dealer Floorplans [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 76,903 | 77,533 |
Commercial [Member] | Commercial Other [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 319,838 | 312,422 |
Commercial [Member] | Commercial Other [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 2,086 | 2,375 |
Commercial [Member] | Commercial Other [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,062 | 1,029 |
Commercial [Member] | Commercial Other [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 330 | 850 |
Commercial [Member] | Commercial Other [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 694 | 496 |
Commercial [Member] | Commercial Other [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 317,752 | 310,047 |
Residential [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,015,137 | 945,536 |
Residential [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 11,846 | 12,908 |
Residential [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 2,173 | 1,655 |
Residential [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 2,963 | 3,446 |
Residential [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 6,710 | 7,807 |
Residential [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,003,291 | 932,628 |
Residential [Member] | Real Estate Mortgage [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 883,104 | 824,996 |
Residential [Member] | Real Estate Mortgage [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 10,188 | 11,338 |
Residential [Member] | Real Estate Mortgage [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,440 | 869 |
Residential [Member] | Real Estate Mortgage [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 2,528 | 3,402 |
Residential [Member] | Real Estate Mortgage [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 6,220 | 7,067 |
Residential [Member] | Real Estate Mortgage [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 872,916 | 813,658 |
Residential [Member] | Home Equity Lines [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 132,033 | 120,540 |
Residential [Member] | Home Equity Lines [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 1,658 | 1,570 |
Residential [Member] | Home Equity Lines [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 733 | 786 |
Residential [Member] | Home Equity Lines [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 435 | 44 |
Residential [Member] | Home Equity Lines [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 490 | 740 |
Residential [Member] | Home Equity Lines [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 130,375 | 118,970 |
Consumer [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 963,929 | 894,896 |
Consumer [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 5,109 | 6,358 |
Consumer [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 3,704 | 4,962 |
Consumer [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 960 | 890 |
Consumer [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 445 | 506 |
Consumer [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 958,820 | 888,538 |
Consumer [Member] | Consumer Direct [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 157,848 | 157,504 |
Consumer [Member] | Consumer Direct [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 658 | 722 |
Consumer [Member] | Consumer Direct [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 557 | 555 |
Consumer [Member] | Consumer Direct [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 95 | 126 |
Consumer [Member] | Consumer Direct [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 6 | 41 |
Consumer [Member] | Consumer Direct [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 157,190 | 156,782 |
Consumer [Member] | Consumer Indirect [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 806,081 | 737,392 |
Consumer [Member] | Consumer Indirect [Member] | Total Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 4,451 | 5,636 |
Consumer [Member] | Consumer Indirect [Member] | 30-59 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 3,147 | 4,407 |
Consumer [Member] | Consumer Indirect [Member] | 60-89 Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 865 | 764 |
Consumer [Member] | Consumer Indirect [Member] | 90+ Days Past Due [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | 439 | 465 |
Consumer [Member] | Consumer Indirect [Member] | Current [Member] | ||
Bank's Loan portfolio aging analysis, segregated by class [Abstract] | ||
Loans and lease financing | $ 801,630 | $ 731,756 |
Loans, Credit Risk Profile Base
Loans, Credit Risk Profile Based on Rating Category and Payment Activity and on Performing and Nonperforming Status, Segregated by Class (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
Total | $ 3,929,695 | $ 3,929,695 | $ 3,709,290 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
Total | (1,953) | $ (828) | (3,718) | $ (2,148) | (5,346) |
Consumer mortgage loans secured by real estate properties for which formal foreclosure proceedings are in process | 3,800 | 3,800 | 3,300 | ||
Commercial [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 225,520 | 225,520 | 542,228 | ||
2022/2021 | 488,857 | 488,857 | 407,322 | ||
2021/2020 | 375,797 | 375,797 | 197,470 | ||
2020/2019 | 188,240 | 188,240 | 160,246 | ||
2019/2018 | 148,751 | 148,751 | 78,649 | ||
Prior | 316,733 | 316,733 | 280,907 | ||
Revolving Loans | 206,731 | 206,731 | 202,036 | ||
Total | 1,950,629 | 1,950,629 | 1,868,858 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
2023 | (321) | ||||
2022 | (632) | ||||
2021 | (182) | ||||
2020 | (26) | ||||
2019 | (90) | ||||
Prior | (46) | ||||
Revolving loan | 0 | ||||
Total | (1,297) | ||||
Commercial [Member] | Pass [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 216,480 | 216,480 | 519,154 | ||
2022/2021 | 469,213 | 469,213 | 378,826 | ||
2021/2020 | 340,015 | 340,015 | 171,938 | ||
2020/2019 | 165,602 | 165,602 | 149,565 | ||
2019/2018 | 133,040 | 133,040 | 70,102 | ||
Prior | 279,663 | 279,663 | 233,022 | ||
Revolving Loans | 199,256 | 199,256 | 192,516 | ||
Total | 1,803,269 | $ 1,803,269 | 1,715,123 | ||
Commercial [Member] | Pass [Member] | Minimum [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
Review period for loans | 12 months | ||||
Commercial [Member] | Pass [Member] | Maximum [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
Review period for loans | 18 months | ||||
Commercial [Member] | Watch [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 4,543 | $ 4,543 | 14,348 | ||
2022/2021 | 13,323 | 13,323 | 16,052 | ||
2021/2020 | 17,187 | 17,187 | 17,892 | ||
2020/2019 | 16,529 | 16,529 | 6,696 | ||
2019/2018 | 12,107 | 12,107 | 4,257 | ||
Prior | 18,719 | 18,719 | 31,372 | ||
Revolving Loans | 6,845 | 6,845 | 8,484 | ||
Total | 89,253 | 89,253 | 99,101 | ||
Commercial [Member] | OAEM [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 2,375 | 2,375 | 49 | ||
2022/2021 | 49 | 49 | 0 | ||
2021/2020 | 6,971 | 6,971 | 0 | ||
2020/2019 | 0 | 0 | 39 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 2,052 | 2,052 | 2,046 | ||
Revolving Loans | 30 | 30 | 59 | ||
Total | 11,477 | 11,477 | 2,193 | ||
Commercial [Member] | Substandard [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 2,122 | 2,122 | 8,211 | ||
2022/2021 | 6,272 | 6,272 | 12,315 | ||
2021/2020 | 11,624 | 11,624 | 7,640 | ||
2020/2019 | 6,109 | 6,109 | 3,837 | ||
2019/2018 | 3,604 | 3,604 | 4,290 | ||
Prior | 16,284 | 16,284 | 14,162 | ||
Revolving Loans | 600 | 600 | 977 | ||
Total | 46,615 | 46,615 | 51,432 | ||
Commercial [Member] | Doubtful [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 466 | ||
2022/2021 | 0 | 0 | 129 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 109 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 15 | 15 | 305 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 15 | 15 | 1,009 | ||
Commercial [Member] | Hotel/Motel [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 41,159 | 41,159 | 153,183 | ||
2022/2021 | 157,478 | 157,478 | 44,998 | ||
2021/2020 | 44,298 | 44,298 | 23,265 | ||
2020/2019 | 22,677 | 22,677 | 57,781 | ||
2019/2018 | 50,451 | 50,451 | 13,178 | ||
Prior | 52,875 | 52,875 | 50,690 | ||
Revolving Loans | 4,043 | 4,043 | 545 | ||
Total | 372,981 | 372,981 | 343,640 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
Total | 0 | 0 | 0 | (216) | (216) |
Commercial [Member] | Hotel/Motel [Member] | Pass [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 38,210 | 38,210 | 145,262 | ||
2022/2021 | 150,521 | 150,521 | 36,002 | ||
2021/2020 | 28,454 | 28,454 | 17,742 | ||
2020/2019 | 17,968 | 17,968 | 54,328 | ||
2019/2018 | 47,039 | 47,039 | 13,178 | ||
Prior | 47,091 | 47,091 | 35,179 | ||
Revolving Loans | 4,043 | 4,043 | 545 | ||
Total | 333,326 | 333,326 | 302,236 | ||
Commercial [Member] | Hotel/Motel [Member] | Watch [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 2,949 | 2,949 | 7,921 | ||
2022/2021 | 6,957 | 6,957 | 8,996 | ||
2021/2020 | 8,873 | 8,873 | 5,523 | ||
2020/2019 | 4,709 | 4,709 | 3,453 | ||
2019/2018 | 3,412 | 3,412 | 0 | ||
Prior | 3,871 | 3,871 | 13,555 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 30,771 | 30,771 | 39,448 | ||
Commercial [Member] | Hotel/Motel [Member] | OAEM [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 6,971 | 6,971 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 1,913 | 1,913 | 1,956 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 8,884 | 8,884 | 1,956 | ||
Commercial [Member] | Hotel/Motel [Member] | Substandard [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 0 | 0 | 0 | ||
Commercial [Member] | Hotel/Motel [Member] | Doubtful [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 0 | 0 | 0 | ||
Commercial [Member] | Commercial Real Estate Residential [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 56,277 | 56,277 | 121,482 | ||
2022/2021 | 106,539 | 106,539 | 116,150 | ||
2021/2020 | 109,335 | 109,335 | 41,976 | ||
2020/2019 | 38,272 | 38,272 | 16,700 | ||
2019/2018 | 13,953 | 13,953 | 16,267 | ||
Prior | 54,657 | 54,657 | 45,861 | ||
Revolving Loans | 14,276 | 14,276 | 14,478 | ||
Total | 393,309 | 393,309 | 372,914 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
2023 | 0 | ||||
2022 | 0 | ||||
2021 | (28) | ||||
2020 | 0 | ||||
2019 | 0 | ||||
Prior | 0 | ||||
Revolving loan | 0 | ||||
Total | (28) | 0 | (28) | (31) | (92) |
Commercial [Member] | Commercial Real Estate Residential [Member] | Pass [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 55,238 | 55,238 | 119,826 | ||
2022/2021 | 104,912 | 104,912 | 110,963 | ||
2021/2020 | 104,205 | 104,205 | 38,423 | ||
2020/2019 | 35,701 | 35,701 | 15,467 | ||
2019/2018 | 12,921 | 12,921 | 10,492 | ||
Prior | 41,206 | 41,206 | 36,307 | ||
Revolving Loans | 14,132 | 14,132 | 14,297 | ||
Total | 368,315 | 368,315 | 345,775 | ||
Commercial [Member] | Commercial Real Estate Residential [Member] | Watch [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 753 | 753 | 1,474 | ||
2022/2021 | 1,010 | 1,010 | 898 | ||
2021/2020 | 835 | 835 | 1,675 | ||
2020/2019 | 1,948 | 1,948 | 848 | ||
2019/2018 | 743 | 743 | 2,136 | ||
Prior | 7,367 | 7,367 | 7,015 | ||
Revolving Loans | 144 | 144 | 152 | ||
Total | 12,800 | 12,800 | 14,198 | ||
Commercial [Member] | Commercial Real Estate Residential [Member] | OAEM [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 39 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 65 | 65 | 0 | ||
Revolving Loans | 0 | 0 | 29 | ||
Total | 65 | 65 | 68 | ||
Commercial [Member] | Commercial Real Estate Residential [Member] | Substandard [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 286 | 286 | 182 | ||
2022/2021 | 617 | 617 | 4,289 | ||
2021/2020 | 4,295 | 4,295 | 1,878 | ||
2020/2019 | 623 | 623 | 346 | ||
2019/2018 | 289 | 289 | 3,639 | ||
Prior | 6,019 | 6,019 | 2,539 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 12,129 | 12,129 | 12,873 | ||
Commercial [Member] | Commercial Real Estate Residential [Member] | Doubtful [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 0 | 0 | 0 | ||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 85,972 | 85,972 | 180,509 | ||
2022/2021 | 158,985 | 158,985 | 179,613 | ||
2021/2020 | 161,560 | 161,560 | 95,899 | ||
2020/2019 | 94,208 | 94,208 | 76,161 | ||
2019/2018 | 77,271 | 77,271 | 46,569 | ||
Prior | 183,383 | 183,383 | 158,857 | ||
Revolving Loans | 26,219 | 26,219 | 24,741 | ||
Total | 787,598 | 787,598 | 762,349 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
2023 | 0 | ||||
2022 | 0 | ||||
2021 | 0 | ||||
2020 | (9) | ||||
2019 | 0 | ||||
Prior | 0 | ||||
Revolving loan | 0 | ||||
Total | (9) | 0 | (9) | 0 | (46) |
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | Pass [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 81,927 | 81,927 | 175,220 | ||
2022/2021 | 153,561 | 153,561 | 171,311 | ||
2021/2020 | 152,539 | 152,539 | 80,932 | ||
2020/2019 | 79,949 | 79,949 | 70,848 | ||
2019/2018 | 66,557 | 66,557 | 44,099 | ||
Prior | 166,883 | 166,883 | 137,575 | ||
Revolving Loans | 25,508 | 25,508 | 23,166 | ||
Total | 726,924 | 726,924 | 703,151 | ||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | Watch [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 300 | 300 | 3,331 | ||
2022/2021 | 3,966 | 3,966 | 5,765 | ||
2021/2020 | 6,499 | 6,499 | 10,090 | ||
2020/2019 | 9,716 | 9,716 | 2,178 | ||
2019/2018 | 7,618 | 7,618 | 1,962 | ||
Prior | 6,710 | 6,710 | 10,022 | ||
Revolving Loans | 711 | 711 | 1,550 | ||
Total | 35,520 | 35,520 | 34,898 | ||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | OAEM [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 2,375 | 2,375 | 19 | ||
2022/2021 | 19 | 19 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 74 | 74 | 90 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 2,468 | 2,468 | 109 | ||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | Substandard [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 1,370 | 1,370 | 1,939 | ||
2022/2021 | 1,439 | 1,439 | 2,537 | ||
2021/2020 | 2,522 | 2,522 | 4,877 | ||
2020/2019 | 4,543 | 4,543 | 3,135 | ||
2019/2018 | 3,096 | 3,096 | 508 | ||
Prior | 9,701 | 9,701 | 10,865 | ||
Revolving Loans | 0 | 0 | 25 | ||
Total | 22,671 | 22,671 | 23,886 | ||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | Doubtful [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 15 | 15 | 305 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 15 | 15 | 305 | ||
Commercial [Member] | Dealer Floorplans [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 76,903 | 76,903 | 77,533 | ||
Total | 76,903 | 76,903 | 77,533 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
Total | 0 | 0 | 0 | 0 | 0 |
Commercial [Member] | Dealer Floorplans [Member] | Pass [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 76,903 | 76,903 | 77,153 | ||
Total | 76,903 | 76,903 | 77,153 | ||
Commercial [Member] | Dealer Floorplans [Member] | Watch [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 0 | 0 | 380 | ||
Total | 0 | 0 | 380 | ||
Commercial [Member] | Dealer Floorplans [Member] | OAEM [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 0 | 0 | 0 | ||
Commercial [Member] | Dealer Floorplans [Member] | Substandard [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 0 | 0 | 0 | ||
Commercial [Member] | Dealer Floorplans [Member] | Doubtful [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 0 | 0 | 0 | ||
Commercial [Member] | Commercial Other [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 42,112 | 42,112 | 87,054 | ||
2022/2021 | 65,855 | 65,855 | 66,561 | ||
2021/2020 | 60,604 | 60,604 | 36,330 | ||
2020/2019 | 33,083 | 33,083 | 9,604 | ||
2019/2018 | 7,076 | 7,076 | 2,635 | ||
Prior | 25,818 | 25,818 | 25,499 | ||
Revolving Loans | 85,290 | 85,290 | 84,739 | ||
Total | 319,838 | 319,838 | 312,422 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
2023 | (321) | ||||
2022 | (632) | ||||
2021 | (154) | ||||
2020 | (17) | ||||
2019 | (90) | ||||
Prior | (46) | ||||
Revolving loan | 0 | ||||
Total | (1,260) | ||||
Commercial [Member] | Commercial Other [Member] | Pass [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 41,105 | 41,105 | 78,846 | ||
2022/2021 | 60,219 | 60,219 | 60,550 | ||
2021/2020 | 54,817 | 54,817 | 34,841 | ||
2020/2019 | 31,984 | 31,984 | 8,922 | ||
2019/2018 | 6,523 | 6,523 | 2,333 | ||
Prior | 24,483 | 24,483 | 23,961 | ||
Revolving Loans | 78,670 | 78,670 | 77,355 | ||
Total | 297,801 | 297,801 | 286,808 | ||
Commercial [Member] | Commercial Other [Member] | Watch [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 541 | 541 | 1,622 | ||
2022/2021 | 1,390 | 1,390 | 393 | ||
2021/2020 | 980 | 980 | 604 | ||
2020/2019 | 156 | 156 | 217 | ||
2019/2018 | 334 | 334 | 159 | ||
Prior | 771 | 771 | 780 | ||
Revolving Loans | 5,990 | 5,990 | 6,402 | ||
Total | 10,162 | 10,162 | 10,177 | ||
Commercial [Member] | Commercial Other [Member] | OAEM [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 30 | ||
2022/2021 | 30 | 30 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 30 | 30 | 30 | ||
Total | 60 | 60 | 60 | ||
Commercial [Member] | Commercial Other [Member] | Substandard [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 466 | 466 | 6,090 | ||
2022/2021 | 4,216 | 4,216 | 5,489 | ||
2021/2020 | 4,807 | 4,807 | 885 | ||
2020/2019 | 943 | 943 | 356 | ||
2019/2018 | 219 | 219 | 143 | ||
Prior | 564 | 564 | 758 | ||
Revolving Loans | 600 | 600 | 952 | ||
Total | 11,815 | 11,815 | 14,673 | ||
Commercial [Member] | Commercial Other [Member] | Doubtful [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 466 | ||
2022/2021 | 0 | 0 | 129 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 109 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 0 | 0 | 704 | ||
Residential [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 96,372 | 96,372 | 176,736 | ||
2022/2021 | 175,566 | 175,566 | 177,751 | ||
2021/2020 | 169,792 | 169,792 | 132,893 | ||
2020/2019 | 125,903 | 125,903 | 63,206 | ||
2019/2018 | 60,148 | 60,148 | 30,895 | ||
Prior | 264,773 | 264,773 | 254,212 | ||
Revolving Loans | 122,583 | 122,583 | 109,843 | ||
Total | 1,015,137 | 1,015,137 | 945,536 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
2023 | 0 | ||||
2022 | 0 | ||||
2021 | (47) | ||||
2020 | 0 | ||||
2019 | (1) | ||||
Prior | (60) | ||||
Revolving loan | 0 | ||||
Total | (108) | ||||
Residential [Member] | Performing [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 96,372 | 96,372 | 176,736 | ||
2022/2021 | 175,566 | 175,566 | 177,469 | ||
2021/2020 | 169,481 | 169,481 | 132,795 | ||
2020/2019 | 125,782 | 125,782 | 62,415 | ||
2019/2018 | 59,375 | 59,375 | 30,473 | ||
Prior | 258,276 | 258,276 | 246,305 | ||
Revolving Loans | 122,332 | 122,332 | 109,567 | ||
Total | 1,007,184 | 1,007,184 | 935,760 | ||
Residential [Member] | Nonperforming [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 282 | ||
2021/2020 | 311 | 311 | 98 | ||
2020/2019 | 121 | 121 | 791 | ||
2019/2018 | 773 | 773 | 422 | ||
Prior | 6,497 | 6,497 | 7,907 | ||
Revolving Loans | 251 | 251 | 276 | ||
Total | 7,953 | 7,953 | 9,776 | ||
Residential [Member] | Real Estate Mortgage [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 96,372 | 96,372 | 176,736 | ||
2022/2021 | 175,566 | 175,566 | 177,751 | ||
2021/2020 | 169,792 | 169,792 | 132,893 | ||
2020/2019 | 125,903 | 125,903 | 63,206 | ||
2019/2018 | 60,148 | 60,148 | 30,895 | ||
Prior | 255,323 | 255,323 | 243,515 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 883,104 | 883,104 | 824,996 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
2023 | 0 | ||||
2022 | 0 | ||||
2021 | (47) | ||||
2020 | 0 | ||||
2019 | (1) | ||||
Prior | (47) | ||||
Revolving loan | 0 | ||||
Total | (95) | ||||
Residential [Member] | Real Estate Mortgage [Member] | Performing [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 96,372 | 96,372 | 176,736 | ||
2022/2021 | 175,566 | 175,566 | 177,469 | ||
2021/2020 | 169,481 | 169,481 | 132,795 | ||
2020/2019 | 125,782 | 125,782 | 62,415 | ||
2019/2018 | 59,375 | 59,375 | 30,473 | ||
Prior | 249,229 | 249,229 | 236,110 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 875,805 | 875,805 | 815,998 | ||
Residential [Member] | Real Estate Mortgage [Member] | Nonperforming [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 282 | ||
2021/2020 | 311 | 311 | 98 | ||
2020/2019 | 121 | 121 | 791 | ||
2019/2018 | 773 | 773 | 422 | ||
Prior | 6,094 | 6,094 | 7,405 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 7,299 | 7,299 | 8,998 | ||
Residential [Member] | Home Equity Lines [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 9,450 | 9,450 | 10,697 | ||
Revolving Loans | 122,583 | 122,583 | 109,843 | ||
Total | 132,033 | 132,033 | 120,540 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
Prior | (13) | ||||
Revolving loan | 0 | ||||
Total | (13) | (5) | (13) | (24) | (37) |
Residential [Member] | Home Equity Lines [Member] | Performing [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 9,047 | 9,047 | 10,195 | ||
Revolving Loans | 122,332 | 122,332 | 109,567 | ||
Total | 131,379 | 131,379 | 119,762 | ||
Residential [Member] | Home Equity Lines [Member] | Nonperforming [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 403 | 403 | 502 | ||
Revolving Loans | 251 | 251 | 276 | ||
Total | 654 | 654 | 778 | ||
Consumer [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 252,523 | 252,523 | 433,408 | ||
2022/2021 | 352,720 | 352,720 | 210,789 | ||
2021/2020 | 170,302 | 170,302 | 140,289 | ||
2020/2019 | 110,063 | 110,063 | 56,944 | ||
2019/2018 | 42,956 | 42,956 | 33,014 | ||
Prior | 35,365 | 35,365 | 20,452 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 963,929 | 963,929 | 894,896 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
2023 | (42) | ||||
2022 | (931) | ||||
2021 | (925) | ||||
2020 | (247) | ||||
2019 | (89) | ||||
Prior | (79) | ||||
Revolving loan | 0 | ||||
Total | (2,313) | ||||
Consumer [Member] | Performing [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 252,523 | 252,523 | 433,318 | ||
2022/2021 | 352,557 | 352,557 | 210,527 | ||
2021/2020 | 170,119 | 170,119 | 140,188 | ||
2020/2019 | 110,027 | 110,027 | 56,914 | ||
2019/2018 | 42,938 | 42,938 | 33,013 | ||
Prior | 35,320 | 35,320 | 20,430 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 963,484 | 963,484 | 894,390 | ||
Consumer [Member] | Nonperforming [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 90 | ||
2022/2021 | 163 | 163 | 262 | ||
2021/2020 | 183 | 183 | 101 | ||
2020/2019 | 36 | 36 | 30 | ||
2019/2018 | 18 | 18 | 1 | ||
Prior | 45 | 45 | 22 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 445 | 445 | 506 | ||
Consumer [Member] | Consumer Direct [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 35,168 | 35,168 | 62,264 | ||
2022/2021 | 45,899 | 45,899 | 42,025 | ||
2021/2020 | 33,307 | 33,307 | 23,926 | ||
2020/2019 | 19,215 | 19,215 | 11,166 | ||
2019/2018 | 9,082 | 9,082 | 6,766 | ||
Prior | 15,177 | 15,177 | 11,357 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 157,848 | 157,848 | 157,504 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
2023 | 0 | ||||
2022 | (146) | ||||
2021 | (42) | ||||
2020 | (30) | ||||
2019 | (14) | ||||
Prior | (6) | ||||
Revolving loan | 0 | ||||
Total | (82) | (175) | (238) | (345) | (609) |
Consumer [Member] | Consumer Direct [Member] | Performing [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 35,168 | 35,168 | 62,239 | ||
2022/2021 | 45,893 | 45,893 | 42,014 | ||
2021/2020 | 33,307 | 33,307 | 23,921 | ||
2020/2019 | 19,215 | 19,215 | 11,166 | ||
2019/2018 | 9,082 | 9,082 | 6,766 | ||
Prior | 15,177 | 15,177 | 11,357 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 157,842 | 157,842 | 157,463 | ||
Consumer [Member] | Consumer Direct [Member] | Nonperforming [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 25 | ||
2022/2021 | 6 | 6 | 11 | ||
2021/2020 | 0 | 0 | 5 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 6 | 6 | 41 | ||
Consumer [Member] | Consumer Indirect [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 217,355 | 217,355 | 371,144 | ||
2022/2021 | 306,821 | 306,821 | 168,764 | ||
2021/2020 | 136,995 | 136,995 | 116,363 | ||
2020/2019 | 90,848 | 90,848 | 45,778 | ||
2019/2018 | 33,874 | 33,874 | 26,248 | ||
Prior | 20,188 | 20,188 | 9,095 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 806,081 | 806,081 | 737,392 | ||
Current Period Gross Charge-Offs [Abstract] | |||||
2023 | (42) | ||||
2022 | (785) | ||||
2021 | (883) | ||||
2020 | (217) | ||||
2019 | (75) | ||||
Prior | (73) | ||||
Revolving loan | 0 | ||||
Total | (693) | $ (377) | (2,075) | $ (1,011) | (3,041) |
Consumer [Member] | Consumer Indirect [Member] | Performing [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 217,355 | 217,355 | 371,079 | ||
2022/2021 | 306,664 | 306,664 | 168,513 | ||
2021/2020 | 136,812 | 136,812 | 116,267 | ||
2020/2019 | 90,812 | 90,812 | 45,748 | ||
2019/2018 | 33,856 | 33,856 | 26,247 | ||
Prior | 20,143 | 20,143 | 9,073 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | 805,642 | 805,642 | 736,927 | ||
Consumer [Member] | Consumer Indirect [Member] | Nonperforming [Member] | |||||
Credit Risk Profile of Loan Portfolio Segregated by Class of Loans and Origination Year [Abstract] | |||||
2023/2022 | 0 | 0 | 65 | ||
2022/2021 | 157 | 157 | 251 | ||
2021/2020 | 183 | 183 | 96 | ||
2020/2019 | 36 | 36 | 30 | ||
2019/2018 | 18 | 18 | 1 | ||
Prior | 45 | 45 | 22 | ||
Revolving Loans | 0 | 0 | 0 | ||
Total | $ 439 | $ 439 | $ 465 |
Loans, Collateral Dependent Loa
Loans, Collateral Dependent Loans and Loans With/Without Specific Valuation Allowance (Details) - Commercial [Member] $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 USD ($) Loan | Jun. 30, 2022 USD ($) Loan | Dec. 31, 2022 USD ($) Loan | |
Collateral Pledged [Member] | |||
Collateral Dependent Loans by Segment [Abstract] | |||
Number of Loans | Loan | 13 | 18 | 15 |
Recorded balance | $ 32,756 | $ 36,561 | $ 32,598 |
Specific Allowance | $ 0 | $ 750 | $ 1,200 |
Hotel/Motel [Member] | Collateral Pledged [Member] | |||
Collateral Dependent Loans by Segment [Abstract] | |||
Number of Loans | Loan | 2 | 1 | 1 |
Recorded balance | $ 8,114 | $ 1,196 | $ 1,168 |
Specific Allowance | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Residential [Member] | Collateral Pledged [Member] | |||
Collateral Dependent Loans by Segment [Abstract] | |||
Number of Loans | Loan | 3 | 4 | 4 |
Recorded balance | $ 6,353 | $ 6,957 | $ 7,786 |
Specific Allowance | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Nonresidential [Member] | Collateral Pledged [Member] | |||
Collateral Dependent Loans by Segment [Abstract] | |||
Number of Loans | Loan | 6 | 10 | 8 |
Recorded balance | $ 11,704 | $ 18,218 | $ 14,718 |
Specific Allowance | $ 0 | $ 200 | $ 200 |
Commercial Other [Member] | Collateral Pledged [Member] | |||
Collateral Dependent Loans by Segment [Abstract] | |||
Number of Loans | Loan | 2 | 3 | 2 |
Recorded balance | $ 6,585 | $ 10,190 | $ 8,926 |
Specific Allowance | $ 0 | $ 550 | $ 1,000 |
Commercial Other [Member] | Accounts Receivable, Equipment, and Inventory [Member] | |||
Collateral Dependent Loans by Segment [Abstract] | |||
Number of financing receivables collateralized | Loan | 2 |
Loans, Modified Loans Segregate
Loans, Modified Loans Segregated by Class of Loans and Concession Granted (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 5,867 | $ 8,144 | $ 16,964 | ||
Interest Rate Reduction [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 73 | $ 4,942 | |||
% of total | 0% | 0.13% | |||
Term Extension [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 1,605 | 5,867 | $ 11,702 | 7,228 | 15,405 |
% of total | 0.04% | 0.30% | |||
Combination - Term Extension and Interest Rate Reduction [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 252 | 0 | $ 592 | 916 | 1,309 |
% of total | 0.01% | 0.02% | |||
Payment Change [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 416 | $ 436 | |||
% of total | 0.01% | 0.01% | |||
Commercial [Member] | Interest Rate Reduction [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 73 | $ 4,884 | |||
% of total | 0% | 0.25% | |||
Commercial [Member] | Interest Rate Reduction [Member] | Hotel/Motel [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Interest Rate Reduction [Member] | Commercial Real Estate Residential [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 311 | |||
% of total | 0% | 0.08% | |||
Commercial [Member] | Interest Rate Reduction [Member] | Commercial Real Estate Nonresidential [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 73 | $ 4,573 | |||
% of total | 0.01% | 0.58% | |||
Commercial [Member] | Interest Rate Reduction [Member] | Dealer Floorplans [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Interest Rate Reduction [Member] | Commercial Other [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Term Extension [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 579 | $ 7,657 | |||
% of total | 0.03% | 0.39% | |||
Commercial [Member] | Term Extension [Member] | Hotel/Motel [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Term Extension [Member] | Commercial Real Estate Residential [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 44 | $ 1,383 | |||
% of total | 0.01% | 0.35% | |||
Commercial [Member] | Term Extension [Member] | Commercial Real Estate Nonresidential [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 13 | $ 4,800 | |||
% of total | 0% | 0.61% | |||
Commercial [Member] | Term Extension [Member] | Dealer Floorplans [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Term Extension [Member] | Commercial Other [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 522 | $ 1,474 | |||
% of total | 0.16% | 0.46% | |||
Commercial [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 88 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | Hotel/Motel [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | Commercial Real Estate Residential [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 88 | |||
% of total | 0% | 0.02% | |||
Commercial [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | Commercial Real Estate Nonresidential [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | Dealer Floorplans [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | Commercial Other [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Payment Change [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 300 | $ 300 | |||
% of total | 0.02% | 0.02% | |||
Commercial [Member] | Payment Change [Member] | Hotel/Motel [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Payment Change [Member] | Commercial Real Estate Residential [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Payment Change [Member] | Commercial Real Estate Nonresidential [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Payment Change [Member] | Dealer Floorplans [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Commercial [Member] | Payment Change [Member] | Commercial Other [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 300 | $ 300 | |||
% of total | 0.09% | 0.09% | |||
Residential [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | 305 | 1,221 | 1,902 | ||
Residential [Member] | Real Estate Mortgage [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | 305 | 1,221 | 1,902 | ||
Residential [Member] | Interest Rate Reduction [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 58 | |||
% of total | 0% | 0.01% | |||
Residential [Member] | Interest Rate Reduction [Member] | Real Estate Mortgage [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 58 | |||
% of total | 0% | 0.01% | |||
Residential [Member] | Interest Rate Reduction [Member] | Home Equity Lines [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Residential [Member] | Term Extension [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 877 | 305 | $ 3,371 | 305 | 593 |
% of total | 0.09% | 0.33% | |||
Residential [Member] | Term Extension [Member] | Real Estate Mortgage [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 877 | 305 | $ 3,317 | 305 | 593 |
% of total | 0.10% | 0.38% | |||
Residential [Member] | Term Extension [Member] | Home Equity Lines [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 54 | |||
% of total | 0% | 0.04% | |||
Residential [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 252 | 0 | $ 504 | 916 | 1,309 |
% of total | 0.02% | 0.05% | |||
Residential [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | Real Estate Mortgage [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 209 | $ 0 | $ 427 | $ 916 | $ 1,309 |
% of total | 0.02% | 0.05% | |||
Residential [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | Home Equity Lines [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 43 | $ 77 | |||
% of total | 0.03% | 0.06% | |||
Residential [Member] | Payment Change [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 116 | $ 116 | |||
% of total | 0.01% | 0.01% | |||
Residential [Member] | Payment Change [Member] | Real Estate Mortgage [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Residential [Member] | Payment Change [Member] | Home Equity Lines [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 116 | $ 116 | |||
% of total | 0.09% | 0.09% | |||
Consumer [Member] | Interest Rate Reduction [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Consumer [Member] | Interest Rate Reduction [Member] | Consumer Direct [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Consumer [Member] | Interest Rate Reduction [Member] | Consumer Indirect [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Consumer [Member] | Term Extension [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 149 | $ 674 | |||
% of total | 0.02% | 0.07% | |||
Consumer [Member] | Term Extension [Member] | Consumer Direct [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 54 | $ 224 | |||
% of total | 0.03% | 0.14% | |||
Consumer [Member] | Term Extension [Member] | Consumer Indirect [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 95 | $ 450 | |||
% of total | 0.01% | 0.06% | |||
Consumer [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Consumer [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | Consumer Direct [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Consumer [Member] | Combination - Term Extension and Interest Rate Reduction [Member] | Consumer Indirect [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% | |||
Consumer [Member] | Payment Change [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 20 | |||
% of total | 0% | 0% | |||
Consumer [Member] | Payment Change [Member] | Consumer Direct [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 20 | |||
% of total | 0% | 0.01% | |||
Consumer [Member] | Payment Change [Member] | Consumer Indirect [Member] | |||||
Modified Loans Segregated by Class of Loans and Concession Granted [Abstract] | |||||
Amortized cost | $ 0 | $ 0 | |||
% of total | 0% | 0% |
Loans, Financial Effect of Modi
Loans, Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty (Details) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2023 | Jun. 30, 2023 | |
Interest Rate Reduction [Member] | Commercial Real Estate Residential [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average contractual interest rate, pre-modification | 9.60% | |
Weighted-average contractual interest rate, post-modification | 8% | |
Interest Rate Reduction [Member] | Commercial Real Estate Nonresidential [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average contractual interest rate, pre-modification | 10.80% | 9.50% |
Weighted-average contractual interest rate, post-modification | 8.50% | 7.50% |
Interest Rate Reduction [Member] | Real Estate Mortgage [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average contractual interest rate | 3% | |
Term Extension [Member] | Commercial Real Estate Residential [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average term increased | 11 years 8 months 12 days | |
Term Extension [Member] | Commercial Other [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average term increased | 9 months 18 days | 1 year 4 months 24 days |
Term Extension [Member] | Real Estate Mortgage [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average term increased | 4 years | 2 years 9 months 18 days |
Term Extension [Member] | Home Equity Lines [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average term increased | 6 years 9 months 18 days | |
Term Extension [Member] | Consumer Direct [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average term increased | 2 months 12 days | 7 months 6 days |
Term Extension [Member] | Consumer Indirect [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average term increased | 6 months | 3 months 18 days |
Combination - Term Extension and Interest Rate Reduction [Member] | Commercial Real Estate Residential [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average contractual interest rate, pre-modification | 10.40% | |
Weighted-average contractual interest rate, post-modification | 7.20% | |
Weighted-average term increased | 5 years 10 months 24 days | |
Combination - Term Extension and Interest Rate Reduction [Member] | Real Estate Mortgage [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average contractual interest rate, pre-modification | 6.80% | 7.10% |
Weighted-average contractual interest rate, post-modification | 6.20% | 6.10% |
Weighted-average term increased | 9 years 8 months 12 days | 11 years 3 months 18 days |
Combination - Term Extension and Interest Rate Reduction [Member] | Home Equity Lines [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted-average contractual interest rate, pre-modification | 10.30% | 9.10% |
Weighted-average contractual interest rate, post-modification | 8.30% | 8% |
Weighted-average term increased | 14 years 3 months 18 days | 10 years 2 months 12 days |
Loans, Troubled Debt Restructur
Loans, Troubled Debt Restructurings Segregated by Class (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 USD ($) Loan | Jun. 30, 2022 USD ($) Loan | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) Loan | Dec. 31, 2022 USD ($) Loan | |
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Number of Loans | Loan | 6 | 16 | 41 | ||
Pre-Modification Outstanding Recorded Investment | $ 5,867 | $ 8,146 | $ 16,829 | ||
Post-Modification Outstanding Balance | 5,867 | 8,144 | 16,964 | ||
Number of loans to borrowers experiencing financial difficulty with subsequent default | Loan | 3 | ||||
Troubled debt restructured loans | $ 0 | $ 0 | |||
Minimum [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Past due period for loan to be considered in default | 90 days | ||||
Term Modification [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 5,867 | 7,230 | 15,270 | ||
Post-Modification Outstanding Balance | 1,605 | 5,867 | $ 11,702 | 7,228 | 15,405 |
Combination [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 916 | 1,309 | ||
Post-Modification Outstanding Balance | 252 | $ 0 | 592 | $ 916 | 1,309 |
Other [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 250 | ||||
Post-Modification Outstanding Balance | 250 | ||||
Unfunded Loan Commitment [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Off-balance sheet credit exposure | 1,100 | 1,100 | $ 700 | ||
Commercial [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Number of Loans | Loan | 5 | 13 | 36 | ||
Pre-Modification Outstanding Recorded Investment | $ 5,562 | $ 6,925 | $ 14,927 | ||
Post-Modification Outstanding Balance | 5,562 | 6,923 | 15,062 | ||
Commercial [Member] | Term Modification [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 5,562 | 6,925 | 14,677 | ||
Post-Modification Outstanding Balance | 5,562 | 6,923 | 14,812 | ||
Commercial [Member] | Combination [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | ||
Post-Modification Outstanding Balance | $ 0 | $ 0 | 0 | ||
Commercial [Member] | Other [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 250 | ||||
Post-Modification Outstanding Balance | $ 250 | ||||
Commercial [Member] | Hotel/Motel [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Number of Loans | Loan | 0 | 0 | 0 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | ||
Post-Modification Outstanding Balance | 0 | 0 | 0 | ||
Commercial [Member] | Hotel/Motel [Member] | Term Modification [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | ||
Post-Modification Outstanding Balance | 0 | 0 | 0 | ||
Commercial [Member] | Hotel/Motel [Member] | Combination [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | ||
Post-Modification Outstanding Balance | $ 0 | $ 0 | 0 | ||
Commercial [Member] | Hotel/Motel [Member] | Other [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | ||||
Post-Modification Outstanding Balance | $ 0 | ||||
Commercial [Member] | Commercial Real Estate Residential [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Number of Loans | Loan | 0 | 2 | 6 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 154 | $ 725 | ||
Post-Modification Outstanding Balance | 0 | 154 | 725 | ||
Commercial [Member] | Commercial Real Estate Residential [Member] | Term Modification [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 154 | 659 | ||
Post-Modification Outstanding Balance | 0 | 154 | 659 | ||
Commercial [Member] | Commercial Real Estate Residential [Member] | Combination [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | ||
Post-Modification Outstanding Balance | $ 0 | $ 0 | 0 | ||
Commercial [Member] | Commercial Real Estate Residential [Member] | Other [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 66 | ||||
Post-Modification Outstanding Balance | $ 66 | ||||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Number of Loans | Loan | 0 | 2 | 8 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 245 | $ 1,324 | ||
Post-Modification Outstanding Balance | 0 | 244 | 1,460 | ||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | Term Modification [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 245 | 1,206 | ||
Post-Modification Outstanding Balance | 0 | 244 | 1,342 | ||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | Combination [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | ||
Post-Modification Outstanding Balance | $ 0 | $ 0 | 0 | ||
Commercial [Member] | Commercial Real Estate Nonresidential [Member] | Other [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 118 | ||||
Post-Modification Outstanding Balance | $ 118 | ||||
Commercial [Member] | Commercial Other [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Number of Loans | Loan | 5 | 9 | 22 | ||
Pre-Modification Outstanding Recorded Investment | $ 5,562 | $ 6,526 | $ 12,878 | ||
Post-Modification Outstanding Balance | 5,562 | 6,525 | 12,877 | ||
Commercial [Member] | Commercial Other [Member] | Term Modification [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 5,562 | 6,526 | 12,812 | ||
Post-Modification Outstanding Balance | 5,562 | 6,525 | 12,811 | ||
Commercial [Member] | Commercial Other [Member] | Combination [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | ||
Post-Modification Outstanding Balance | $ 0 | $ 0 | 0 | ||
Commercial [Member] | Commercial Other [Member] | Other [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 66 | ||||
Post-Modification Outstanding Balance | $ 66 | ||||
Residential [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Number of Loans | Loan | 1 | 3 | 5 | ||
Pre-Modification Outstanding Recorded Investment | $ 305 | $ 1,221 | $ 1,902 | ||
Post-Modification Outstanding Balance | 305 | 1,221 | 1,902 | ||
Residential [Member] | Term Modification [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 305 | 305 | 593 | ||
Post-Modification Outstanding Balance | 877 | 305 | 3,371 | 305 | 593 |
Residential [Member] | Combination [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 916 | 1,309 | ||
Post-Modification Outstanding Balance | 252 | $ 0 | 504 | $ 916 | 1,309 |
Residential [Member] | Other [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | ||||
Post-Modification Outstanding Balance | $ 0 | ||||
Residential [Member] | Real Estate Mortgage [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Number of Loans | Loan | 1 | 3 | 5 | ||
Pre-Modification Outstanding Recorded Investment | $ 305 | $ 1,221 | $ 1,902 | ||
Post-Modification Outstanding Balance | 305 | 1,221 | 1,902 | ||
Residential [Member] | Real Estate Mortgage [Member] | Term Modification [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 305 | 305 | 593 | ||
Post-Modification Outstanding Balance | 877 | 305 | 3,317 | 305 | 593 |
Residential [Member] | Real Estate Mortgage [Member] | Combination [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | 916 | 1,309 | ||
Post-Modification Outstanding Balance | $ 209 | $ 0 | $ 427 | $ 916 | 1,309 |
Residential [Member] | Real Estate Mortgage [Member] | Other [Member] | |||||
Troubled Debt Restructurings Segregated by Class [Abstract] | |||||
Pre-Modification Outstanding Recorded Investment | 0 | ||||
Post-Modification Outstanding Balance | $ 0 |
Loans, Payment Status of Modifi
Loans, Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | $ 544 |
Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 16,411 |
30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 599 |
90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 118 |
Hotel/Motel [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | 0 |
Hotel/Motel [Member] | Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Hotel/Motel [Member] | 30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Hotel/Motel [Member] | 90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Commercial Real Estate Residential [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | 0 |
Commercial Real Estate Residential [Member] | Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 1,741 |
Commercial Real Estate Residential [Member] | 30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 40 |
Commercial Real Estate Residential [Member] | 90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Commercial Real Estate Nonresidential [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | 0 |
Commercial Real Estate Nonresidential [Member] | Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 9,373 |
Commercial Real Estate Nonresidential [Member] | 30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Commercial Real Estate Nonresidential [Member] | 90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Dealer Floorplans [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | 0 |
Dealer Floorplans [Member] | Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Dealer Floorplans [Member] | 30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Dealer Floorplans [Member] | 90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Commercial Other [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | 337 |
Commercial Other [Member] | Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 1,145 |
Commercial Other [Member] | 30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 292 |
Commercial Other [Member] | 90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Real Estate Mortgage [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | 185 |
Real Estate Mortgage [Member] | Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 3,374 |
Real Estate Mortgage [Member] | 30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 125 |
Real Estate Mortgage [Member] | 90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 118 |
Home Equity Lines [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | 22 |
Home Equity Lines [Member] | Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 168 |
Home Equity Lines [Member] | 30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 59 |
Home Equity Lines [Member] | 90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Consumer Direct [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | 0 |
Consumer Direct [Member] | Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 239 |
Consumer Direct [Member] | 30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 5 |
Consumer Direct [Member] | 90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 0 |
Consumer Indirect [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Nonaccrual | 0 |
Consumer Indirect [Member] | Current [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 371 |
Consumer Indirect [Member] | 30 to 89 Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | 78 |
Consumer Indirect [Member] | 90+ Days Past Due [Member] | |
Payment Status of Modified Loans to Borrowers Experiencing Financial Difficulty [Abstract] | |
Modified loans to borrowers experiencing financial difficulty | $ 0 |
Other Real Estate Owned, Activi
Other Real Estate Owned, Activity For Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Activity for other real estate owned [Roll Forward] | ||||
Beginning balance of other real estate owned | $ 2,776 | $ 2,299 | $ 3,671 | $ 3,486 |
New assets acquired | 124 | 307 | 175 | 444 |
Capitalized costs | 40 | 73 | 40 | 73 |
Fair value adjustments | (25) | (23) | (106) | (269) |
Sale of assets | (868) | (702) | (1,733) | (1,780) |
Ending balance of other real estate owned | 2,047 | 1,954 | 2,047 | 1,954 |
Carrying cost and fair value adjustments for foreclosed properties | $ 100 | $ 100 | $ 200 | $ 400 |
Other Real Estate Owned, Major
Other Real Estate Owned, Major Classifications of Foreclosed Properties (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Major Classifications of Foreclosed Properties [Abstract] | ||
Total foreclosed properties | $ 2,047 | $ 3,671 |
1-4 Family [Member] | ||
Major Classifications of Foreclosed Properties [Abstract] | ||
Total foreclosed properties | 574 | 859 |
Construction/Land Development/Other [Member] | ||
Major Classifications of Foreclosed Properties [Abstract] | ||
Total foreclosed properties | 683 | 867 |
Non-farm/Non-residential [Member] | ||
Major Classifications of Foreclosed Properties [Abstract] | ||
Total foreclosed properties | $ 790 | $ 1,945 |
Repurchase Agreements (Details)
Repurchase Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financial Instruments Pledged as Collateral [Abstract] | ||
Debt securities available-for-sale | $ 1,201,253 | $ 1,256,226 |
Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 229,020 | 215,431 |
Securities Sold under Agreements to Repurchase [Member] | Asset Pledged as Collateral [Member] | ||
Financial Instruments Pledged as Collateral [Abstract] | ||
Debt securities available-for-sale | 300,300 | 273,800 |
Overnight and Continuous [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 143,881 | 136,574 |
Up to 30 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 11,000 | 500 |
30-90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 0 | 65,000 |
Greater Than 90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 74,139 | 13,357 |
U.S. Treasury and Government Agencies [Member] | ||
Financial Instruments Pledged as Collateral [Abstract] | ||
Debt securities available-for-sale | 365,394 | 381,932 |
U.S. Treasury and Government Agencies [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 44,559 | 26,524 |
U.S. Treasury and Government Agencies [Member] | Overnight and Continuous [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 19,951 | 21,679 |
U.S. Treasury and Government Agencies [Member] | Up to 30 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 2,000 | 34 |
U.S. Treasury and Government Agencies [Member] | 30-90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 0 | 2,979 |
U.S. Treasury and Government Agencies [Member] | Greater Than 90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 22,608 | 1,832 |
State and Political Subdivisions [Member] | ||
Financial Instruments Pledged as Collateral [Abstract] | ||
Debt securities available-for-sale | 259,825 | 265,102 |
State and Political Subdivisions [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 108,546 | 108,867 |
State and Political Subdivisions [Member] | Overnight and Continuous [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 99,257 | 96,627 |
State and Political Subdivisions [Member] | Up to 30 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 1,391 | 466 |
State and Political Subdivisions [Member] | 30-90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 0 | 9,634 |
State and Political Subdivisions [Member] | Greater Than 90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 7,898 | 2,140 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | ||
Financial Instruments Pledged as Collateral [Abstract] | ||
Debt securities available-for-sale | 487,899 | 520,085 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 74,794 | 79,736 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | Overnight and Continuous [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 23,552 | 17,964 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | Up to 30 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 7,609 | 0 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | 30-90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 0 | 52,387 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | Greater Than 90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 43,633 | 9,385 |
Asset-backed Securities [Member] | ||
Financial Instruments Pledged as Collateral [Abstract] | ||
Debt securities available-for-sale | 88,135 | 89,107 |
Asset-backed Securities [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 1,121 | 304 |
Asset-backed Securities [Member] | Overnight and Continuous [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 1,121 | 304 |
Asset-backed Securities [Member] | Up to 30 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 0 | 0 |
Asset-backed Securities [Member] | 30-90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | 0 | 0 |
Asset-backed Securities [Member] | Greater Than 90 Days [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Remaining contractual maturity of securities sold under agreements to repurchase by class of collateral pledged [Abstract] | ||
Repurchase agreements and repurchase-to-maturity transactions | $ 0 | $ 0 |
Fair Value of Financial Asset_3
Fair Value of Financial Assets and Liabilities, Fair Value Measurements of Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | $ 1,201,253 | $ 1,256,226 |
Equity securities at fair value | 2,545 | 2,166 |
U.S. Treasury and Government Agencies [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 365,394 | 381,932 |
State and Political Subdivisions [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 259,825 | 265,102 |
U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 487,899 | 520,085 |
Asset-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 88,135 | 89,107 |
Recurring [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Equity securities at fair value | 2,545 | 2,166 |
Mortgage servicing rights | 8,230 | 8,468 |
Recurring [Member] | U.S. Treasury and Government Agencies [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 365,394 | 381,932 |
Recurring [Member] | State and Political Subdivisions [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 259,825 | 265,102 |
Recurring [Member] | U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 487,899 | 520,085 |
Recurring [Member] | Asset-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 88,135 | 89,107 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Equity securities at fair value | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring [Member] | U.S. Treasury and Government Agencies [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 341,199 | 346,265 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring [Member] | State and Political Subdivisions [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring [Member] | U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring [Member] | Asset-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Recurring [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Equity securities at fair value | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Recurring [Member] | U.S. Treasury and Government Agencies [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 24,195 | 35,667 |
Significant Other Observable Inputs (Level 2) [Member] | Recurring [Member] | State and Political Subdivisions [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 259,825 | 265,102 |
Significant Other Observable Inputs (Level 2) [Member] | Recurring [Member] | U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 487,899 | 520,085 |
Significant Other Observable Inputs (Level 2) [Member] | Recurring [Member] | Asset-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 88,135 | 89,107 |
Significant Unobservable Inputs (Level 3) [Member] | Recurring [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Equity securities at fair value | 2,545 | 2,166 |
Mortgage servicing rights | 8,230 | 8,468 |
Significant Unobservable Inputs (Level 3) [Member] | Recurring [Member] | U.S. Treasury and Government Agencies [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Recurring [Member] | State and Political Subdivisions [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Recurring [Member] | U.S. Government Sponsored Agency Mortgage-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Recurring [Member] | Asset-backed Securities [Member] | ||
Assets measured - recurring basis [Abstract] | ||
Debt securities available-for-sale | $ 0 | $ 0 |
Fair Value of Financial Asset_4
Fair Value of Financial Assets and Liabilities, Level 3 Reconciliation and Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Noninterest Income [Abstract] | ||||
Total gains | $ 227 | $ 25 | $ 44 | $ 869 |
Recurring [Member] | Equity Securities [Member] | ||||
Reconciliation of beginning and ending balances of recurring fair value measurements recognized in balance sheet using significant unobservable (Level 3) inputs [Roll Forward] | ||||
Beginning balance | 2,380 | 2,352 | 2,166 | 2,253 |
Total unrealized gains (losses) included in net income | 165 | (224) | 379 | (125) |
Issues | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Ending balance | 2,545 | 2,128 | 2,545 | 2,128 |
Total gains (losses) for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date | 165 | (224) | 379 | (125) |
Recurring [Member] | Mortgage Servicing Rights [Member] | ||||
Reconciliation of beginning and ending balances of recurring fair value measurements recognized in balance sheet using significant unobservable (Level 3) inputs [Roll Forward] | ||||
Beginning balance | 8,121 | 7,748 | 8,468 | 6,774 |
Total unrealized gains (losses) included in net income | 80 | 468 | (134) | 1,451 |
Issues | 46 | 223 | 96 | 452 |
Settlements | (17) | (219) | (200) | (457) |
Ending balance | 8,230 | 8,220 | 8,230 | 8,220 |
Total gains (losses) for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date | $ 80 | $ 468 | $ (134) | $ 1,451 |
Fair Value of Financial Asset_5
Fair Value of Financial Assets and Liabilities, Fair Value Measurements of Assets Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | |
Assets measured-nonrecurring basis [Abstract] | |||
Collateral dependent loans | $ 2,703 | ||
Minimum [Member] | |||
Other real estate owned [Abstract] | |||
Typical frequency of periodic reviews | 12 months | ||
Maximum [Member] | |||
Other real estate owned [Abstract] | |||
Typical frequency of periodic reviews | 18 months | ||
Frequency of periodic reviews in general | 24 months | ||
Nonrecurring [Member] | |||
Assets measured-nonrecurring basis [Abstract] | |||
Collateral dependent loans | $ 0 | $ 0 | |
Other real estate owned [Abstract] | |||
Other real estate owned, fair value adjustment | 25 | 106 | 285 |
Nonrecurring [Member] | Fair Value [Member] | |||
Assets measured-nonrecurring basis [Abstract] | |||
Collateral dependent loans | 2,703 | ||
Other real estate owned | 177 | 177 | 570 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Nonrecurring [Member] | Fair Value [Member] | |||
Assets measured-nonrecurring basis [Abstract] | |||
Collateral dependent loans | 0 | ||
Other real estate owned | 0 | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Nonrecurring [Member] | Fair Value [Member] | |||
Assets measured-nonrecurring basis [Abstract] | |||
Collateral dependent loans | 0 | ||
Other real estate owned | 0 | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring [Member] | Fair Value [Member] | |||
Assets measured-nonrecurring basis [Abstract] | |||
Collateral dependent loans | 2,703 | ||
Other real estate owned | $ 177 | $ 177 | $ 570 |
Fair Value of Financial Asset_6
Fair Value of Financial Assets and Liabilities, Quantitative Information about Level 3 Fair Value Measurements (Details) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Equity securities at fair value | $ 2,545 | $ 2,166 |
Mortgage servicing rights | 8,230 | 8,468 |
Collateral dependent loans | 2,703 | |
Other real estate owned | $ 177 | $ 570 |
Conversion Rate [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Equity securities at fair value, measurement input | 1.5902 | |
Dividend Rate [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Equity securities at fair value, measurement input | 0.7156 | |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Discount Rate [Member] | Minimum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Equity securities at fair value, measurement input | 0.08 | 0.08 |
Mortgage servicing rights, measurement input | 0.095 | 0.095 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Discount Rate [Member] | Maximum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Equity securities at fair value, measurement input | 0.12 | 0.12 |
Mortgage servicing rights, measurement input | 0.115 | 0.12 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Discount Rate [Member] | Weighted Average [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Equity securities at fair value, measurement input | 0.10 | 0.10 |
Mortgage servicing rights, measurement input | 0.10 | 0.10 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Conversion Date [Member] | Minimum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Equity securities at fair value, measurement input, conversion date | Dec. 31, 2025 | Dec. 31, 2025 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Conversion Date [Member] | Maximum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Equity securities at fair value, measurement input, conversion date | Dec. 31, 2029 | Dec. 31, 2029 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Conversion Date [Member] | Weighted Average [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Equity securities at fair value, measurement input, conversion date | Dec. 31, 2027 | Dec. 31, 2027 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Constant Prepayment Rate [Member] | Minimum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Mortgage servicing rights, measurement input | 0 | 0.065 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Constant Prepayment Rate [Member] | Maximum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Mortgage servicing rights, measurement input | 0.267 | 0.28 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Constant Prepayment Rate [Member] | Weighted Average [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Mortgage servicing rights, measurement input | 0.074 | 0.071 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Probability of Default [Member] | Minimum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Mortgage servicing rights, measurement input | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Probability of Default [Member] | Maximum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Mortgage servicing rights, measurement input | 1 | 1 |
Significant Unobservable Inputs (Level 3) [Member] | Valuation, Income Approach [Member] | Probability of Default [Member] | Weighted Average [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Mortgage servicing rights, measurement input | 0.013 | 0.012 |
Significant Unobservable Inputs (Level 3) [Member] | Market Comparable Properties [Member] | Marketability Discount [Member] | Minimum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Collateral dependent loans, measurement input | 0.52 | |
Significant Unobservable Inputs (Level 3) [Member] | Market Comparable Properties [Member] | Marketability Discount [Member] | Maximum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Collateral dependent loans, measurement input | 0.52 | |
Significant Unobservable Inputs (Level 3) [Member] | Market Comparable Properties [Member] | Marketability Discount [Member] | Weighted Average [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Collateral dependent loans, measurement input | 0.52 | |
Significant Unobservable Inputs (Level 3) [Member] | Market Comparable Properties [Member] | Comparability Adjustment [Member] | Minimum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Other real estate owned, measurement input | 0 | 0.10 |
Significant Unobservable Inputs (Level 3) [Member] | Market Comparable Properties [Member] | Comparability Adjustment [Member] | Maximum [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Other real estate owned, measurement input | 0.10 | 0.306 |
Significant Unobservable Inputs (Level 3) [Member] | Market Comparable Properties [Member] | Comparability Adjustment [Member] | Weighted Average [Member] | ||
Quantitative Information about Unobservable Inputs Used in Level 3 Fair Value Measurements [Abstract] | ||
Other real estate owned, measurement input | 0.10 | 0.109 |
Fair Value of Financial Asset_7
Fair Value of Financial Assets and Liabilities, Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financial assets [Abstract] | ||
Debt securities available-for-sale | $ 1,201,253 | $ 1,256,226 |
Equity securities at fair value | 2,545 | 2,166 |
Federal Reserve Bank stock | 4,887 | 4,887 |
Carrying Amount [Member] | ||
Financial assets [Abstract] | ||
Cash and cash equivalents | 109,545 | 128,686 |
Certificates of deposit in other banks | 245 | 245 |
Debt securities available-for-sale | 1,201,253 | 1,256,226 |
Equity securities at fair value | 2,545 | 2,166 |
Loans held for sale | 238 | 109 |
Loans, net | 3,881,677 | 3,663,309 |
Federal Home Loan Bank stock | 6,545 | 6,676 |
Federal Reserve Bank stock | 4,887 | 4,887 |
Accrued interest receivable | 20,257 | 19,592 |
Financial liabilities [Abstract] | ||
Deposits | 4,516,660 | 4,426,143 |
Repurchase agreements | 229,020 | 215,431 |
Federal funds purchased | 500 | 500 |
Advances from Federal Home Loan Bank | 345 | 355 |
Long-term debt | 64,350 | 57,841 |
Accrued interest payable | 5,624 | 2,237 |
Unrecognized financial instruments [Abstract] | ||
Letters of credit | 0 | 0 |
Commitments to extend credit | 0 | 0 |
Forward sale commitments | 0 | 0 |
Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial assets [Abstract] | ||
Cash and cash equivalents | 109,545 | 128,686 |
Certificates of deposit in other banks | 0 | 0 |
Debt securities available-for-sale | 341,199 | 346,265 |
Equity securities at fair value | 0 | 0 |
Loans held for sale | 244 | 112 |
Loans, net | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial liabilities [Abstract] | ||
Deposits | 1,361,078 | 1,394,915 |
Repurchase agreements | 0 | 0 |
Federal funds purchased | 0 | 0 |
Advances from Federal Home Loan Bank | 0 | 0 |
Long-term debt | 0 | 0 |
Accrued interest payable | 0 | 0 |
Unrecognized financial instruments [Abstract] | ||
Letters of credit | 0 | 0 |
Commitments to extend credit | 0 | 0 |
Forward sale commitments | 0 | 0 |
Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Financial assets [Abstract] | ||
Cash and cash equivalents | 0 | 0 |
Certificates of deposit in other banks | 245 | 245 |
Debt securities available-for-sale | 860,054 | 909,961 |
Equity securities at fair value | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Federal Home Loan Bank stock | 6,545 | 6,676 |
Federal Reserve Bank stock | 4,887 | 4,887 |
Accrued interest receivable | 20,257 | 19,592 |
Financial liabilities [Abstract] | ||
Deposits | 3,163,628 | 3,050,144 |
Repurchase agreements | 0 | 0 |
Federal funds purchased | 500 | 500 |
Advances from Federal Home Loan Bank | 242 | 380 |
Long-term debt | 0 | 0 |
Accrued interest payable | 5,624 | 2,237 |
Unrecognized financial instruments [Abstract] | ||
Letters of credit | 0 | 0 |
Commitments to extend credit | 0 | 0 |
Forward sale commitments | 0 | 0 |
Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Financial assets [Abstract] | ||
Cash and cash equivalents | 0 | 0 |
Certificates of deposit in other banks | 0 | 0 |
Debt securities available-for-sale | 0 | 0 |
Equity securities at fair value | 2,545 | 2,166 |
Loans held for sale | 0 | 0 |
Loans, net | 3,717,729 | 3,511,810 |
Federal Home Loan Bank stock | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial liabilities [Abstract] | ||
Deposits | 0 | 0 |
Repurchase agreements | 229,277 | 215,542 |
Federal funds purchased | 0 | 0 |
Advances from Federal Home Loan Bank | 0 | 0 |
Long-term debt | 52,043 | 55,860 |
Accrued interest payable | 0 | 0 |
Unrecognized financial instruments [Abstract] | ||
Letters of credit | 0 | 0 |
Commitments to extend credit | 0 | 0 |
Forward sale commitments | $ 0 | $ 0 |
Revenue Recognition (Details)
Revenue Recognition (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2023 USD ($) Segment | |
Revenue Recognition [Abstract] | |
Contract assets | $ 0 |
Contract liabilities | 0 |
Receivable accounts for contracts with customers | $ 0 |
Number of operating segments | Segment | 1 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Numerator [Abstract] | ||||
Net income | $ 19,404 | $ 20,271 | $ 38,717 | $ 39,999 |
Basic earnings per share [Abstract] | ||||
Weighted average shares (in shares) | 17,884,000 | 17,835,000 | 17,877,000 | 17,827,000 |
Diluted earnings per share [Abstract] | ||||
Effect of dilutive stock options and restricted stock grants (in shares) | 6,000 | 8,000 | 8,000 | 11,000 |
Adjusted weighted average shares (in shares) | 17,890,000 | 17,843,000 | 17,885,000 | 17,838,000 |
Earnings per share [Abstract] | ||||
Basic earnings per share (in dollars per share) | $ 1.09 | $ 1.14 | $ 2.17 | $ 2.24 |
Diluted earnings per share (in dollars per share) | $ 1.08 | $ 1.14 | $ 2.16 | $ 2.24 |
Options [Member] | ||||
Earnings Per Share [Abstract] | ||||
Options excluded from diluted calculations (in shares) | 0 | 0 | 0 | 0 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (AOCI) [Abstract] | ||||
Securities gains (losses) | $ 165 | $ (225) | $ 383 | $ (126) |
Tax expense (benefit) | 5,397 | 4,965 | 10,676 | 10,000 |
Net income | 19,404 | 20,271 | 38,717 | 39,999 |
Unrealized Gains (Losses) on AFS Securities [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member] | ||||
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (AOCI) [Abstract] | ||||
Securities gains (losses) | 0 | (1) | 4 | (1) |
Tax expense (benefit) | 0 | 0 | 1 | 0 |
Net income | $ 0 | $ (1) | $ 3 | $ (1) |