Cover Page
Cover Page - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 04, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 000-10661 | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 94-2792841 | |
Entity Address, Address Line One | 63 Constitution Drive | |
Entity Address, City or Town | Chico | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95973 | |
City Area Code | 530 | |
Local Phone Number | 898-0300 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | TCBK | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 33,263,345 | |
Entity Registrant Name | TriCo Bancshares | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000356171 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets: | ||
Cash and due from banks | $ 93,485 | $ 96,323 |
Cash at Federal Reserve and other banks | 25,307 | 10,907 |
Cash and cash equivalents | 118,792 | 107,230 |
Investment securities: | ||
Marketable equity securities | 2,598 | 2,598 |
Available for sale debt securities, net of allowance for credit losses of $0 | 2,320,413 | 2,452,438 |
Held to maturity debt securities, net of allowance for credit losses of $0 | 145,117 | 160,983 |
Restricted equity securities | 17,250 | 17,250 |
Loans held for sale | 1,058 | 1,846 |
Financing receivable | 6,520,740 | 6,450,447 |
Allowance for credit losses | (117,329) | (105,680) |
Total loans, net | 6,403,411 | 6,344,767 |
Premises and equipment, net | 72,619 | 72,327 |
Cash value of life insurance | 135,332 | 133,742 |
Accrued interest receivable | 32,835 | 31,856 |
Goodwill | 304,442 | 304,442 |
Other intangible assets, net | 13,358 | 16,670 |
Operating leases, right-of-use | 29,140 | 26,862 |
Other assets | 257,056 | 257,975 |
Total assets | 9,853,421 | 9,930,986 |
Deposits: | ||
Noninterest-bearing demand | 3,073,353 | 3,502,095 |
Interest-bearing | 5,022,012 | 4,826,918 |
Total deposits | 8,095,365 | 8,329,013 |
Accrued interest payable | 3,655 | 1,167 |
Operating lease liability | 31,377 | 29,004 |
Other liabilities | 136,464 | 159,741 |
Other borrowings | 392,714 | 264,605 |
Junior subordinated debt | 101,065 | 101,040 |
Total liabilities | 8,760,640 | 8,884,570 |
Commitments and contingencies (Note 9) | ||
Shareholders’ equity: | ||
Preferred stock, no par value: 1,000,000 shares authorized, zero issued and outstanding at June 30, 2023 and December 31, 2022 | 0 | 0 |
Common stock, no par value: 50,000,000 shares authorized; 33,259,260 and 33,331,513 issued and outstanding at June 30, 2023 and December 31, 2022, respectively | 695,305 | 697,448 |
Retained earnings | 578,852 | 542,873 |
Accumulated other comprehensive loss, net of tax | (181,376) | (193,905) |
Total shareholders’ equity | 1,092,781 | 1,046,416 |
Total liabilities and shareholders’ equity | $ 9,853,421 | $ 9,930,986 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Available-for-sale, allowance for credit loss | $ 0 | $ 0 |
Held-to-maturity, allowance for credit loss | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 33,259,260 | 33,331,513 |
Common stock, shares outstanding (in shares) | 33,259,260 | 33,331,513 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Interest and dividend income: | ||||
Loans, including fees | $ 86,747 | $ 69,918 | $ 169,161 | $ 127,663 |
Investments: | ||||
Taxable securities | 18,477 | 14,036 | 37,089 | 23,998 |
Tax exempt securities | 1,262 | 1,323 | 2,570 | 2,265 |
Dividends | 298 | 314 | 602 | 575 |
Interest bearing cash at Federal Reserve and other banks | 374 | 1,364 | 643 | 1,649 |
Total interest and dividend income | 107,158 | 86,955 | 210,065 | 156,150 |
Interest expense: | ||||
Deposits | 11,457 | 848 | 16,602 | 1,527 |
Other borrowings | 5,404 | 5 | 8,212 | 10 |
Junior subordinated debt | 1,696 | 1,056 | 3,314 | 1,643 |
Total interest expense | 18,557 | 1,909 | 28,128 | 3,180 |
Net interest income | 88,601 | 85,046 | 181,937 | 152,970 |
Provision for credit losses | 9,650 | 2,100 | 13,845 | 10,430 |
Net interest income after credit loss provision | 78,951 | 82,946 | 168,092 | 142,540 |
Non-interest income: | ||||
Service charges and fees | 12,968 | 13,044 | 24,165 | 24,740 |
Gain on sale of loans | 295 | 542 | 501 | 1,788 |
Loss on sale of investment securities | 0 | 0 | (164) | 0 |
Asset management and commission income | 1,158 | 1,039 | 2,092 | 1,926 |
Increase in cash value of life insurance | 788 | 752 | 1,590 | 1,390 |
Other | 532 | 1,053 | 1,192 | 1,682 |
Total non-interest income | 15,741 | 16,430 | 29,376 | 31,526 |
Non-interest expense: | ||||
Salaries and related benefits | 34,714 | 34,370 | 67,277 | 62,967 |
Other | 26,529 | 21,894 | 47,760 | 39,744 |
Total non-interest expense | 61,243 | 56,264 | 115,037 | 102,711 |
Income before provision for income taxes | 33,449 | 43,112 | 82,431 | 71,355 |
Provision for income taxes | 8,557 | 11,748 | 21,706 | 19,617 |
Net income | $ 24,892 | $ 31,364 | $ 60,725 | $ 51,738 |
Per share data: | ||||
Basic earnings per share (in USD per share) | $ 0.75 | $ 0.93 | $ 1.83 | $ 1.63 |
Diluted earnings per share (in USD per share) | 0.75 | 0.93 | 1.82 | 1.62 |
Dividend per share (in USD per share) | $ 0.30 | $ 0.25 | $ 0.60 | $ 0.50 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 24,892 | $ 31,364 | $ 60,725 | $ 51,738 |
Other comprehensive income (loss), net of tax: | ||||
Unrealized (losses) gains on available for sale securities arising during the period | (11,915) | (68,611) | 12,529 | (147,008) |
Change in minimum pension liability | 0 | 0 | 0 | 58 |
Change in joint beneficiary agreements | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | (11,915) | (68,611) | 12,529 | (146,950) |
Comprehensive income (loss) | $ 12,977 | $ (37,247) | $ 73,254 | $ (95,212) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Cumulative Effect, Period Of Adoption, Adjusted Balance | Common Stock | Common Stock Cumulative Effect, Period Of Adoption, Adjusted Balance | Retained Earnings | Retained Earnings Cumulative Effect, Period Of Adoption, Adjusted Balance | Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss Cumulative Effect, Period Of Adoption, Adjusted Balance |
Beginning balance (in shares) at Dec. 31, 2021 | 29,730,424 | |||||||
Beginning balance at Dec. 31, 2021 | $ 1,000,184 | $ 532,244 | $ 466,959 | $ 981 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | $ 51,738 | $ 51,738 | ||||||
Other comprehensive (loss) income | (146,950) | $ (146,950) | ||||||
Stock options exercised (in shares) | 15,325 | |||||||
Stock options exercised | 256 | $ 256 | ||||||
RSU vesting | 1,279 | 1,279 | ||||||
PSU vesting | 463 | $ 463 | ||||||
RSUs released (in shares) | 45,482 | |||||||
Issuance of common stock (in shares) | 4,105,518 | |||||||
Issuance of common stock | 173,585 | $ 173,585 | ||||||
Repurchase of common stock (in shares) | (545,775) | |||||||
Repurchase of common stock | (22,586) | $ (11,386) | (11,200) | |||||
Dividends paid | (15,792) | (15,792) | ||||||
Ending balance (in shares) at Jun. 30, 2022 | 33,350,974 | |||||||
Ending balance at Jun. 30, 2022 | 1,042,177 | $ 696,441 | 491,705 | (145,969) | ||||
Beginning balance (in shares) at Mar. 31, 2022 | 33,837,935 | |||||||
Beginning balance at Mar. 31, 2022 | 1,109,182 | $ 706,672 | 479,868 | (77,358) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 31,364 | 31,364 | ||||||
Other comprehensive (loss) income | (68,611) | (68,611) | ||||||
Stock options exercised (in shares) | 12,000 | |||||||
Stock options exercised | 201 | $ 201 | ||||||
RSU vesting | 714 | 714 | ||||||
PSU vesting | 216 | $ 216 | ||||||
RSUs released (in shares) | 45,482 | |||||||
Repurchase of common stock (in shares) | (544,443) | |||||||
Repurchase of common stock | (22,530) | $ (11,362) | (11,168) | |||||
Dividends paid | (8,359) | (8,359) | ||||||
Ending balance (in shares) at Jun. 30, 2022 | 33,350,974 | |||||||
Ending balance at Jun. 30, 2022 | $ 1,042,177 | $ 696,441 | 491,705 | (145,969) | ||||
Beginning balance (in shares) at Dec. 31, 2022 | 33,331,513 | 33,331,513 | ||||||
Beginning balance at Dec. 31, 2022 | $ 1,046,416 | $ 697,448 | 542,873 | (193,905) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 60,725 | 60,725 | ||||||
Other comprehensive (loss) income | $ 12,529 | 12,529 | ||||||
Stock options exercised (in shares) | 8,000 | 8,000 | ||||||
Stock options exercised | $ 156 | $ 156 | ||||||
RSU vesting | 1,354 | 1,354 | ||||||
PSU vesting | 617 | $ 617 | ||||||
RSUs released (in shares) | 67,786 | |||||||
PSUs released (in shares) | 55,928 | |||||||
Repurchase of common stock (in shares) | (203,967) | |||||||
Repurchase of common stock | (9,074) | $ (4,270) | (4,804) | |||||
Dividends paid | $ (19,942) | (19,942) | ||||||
Ending balance (in shares) at Jun. 30, 2023 | 33,259,260 | 33,259,260 | ||||||
Ending balance at Jun. 30, 2023 | $ 1,092,781 | $ 695,305 | 578,852 | (181,376) | ||||
Beginning balance (in shares) at Mar. 31, 2023 | 33,195,250 | |||||||
Beginning balance at Mar. 31, 2023 | 1,090,245 | $ 695,168 | 564,538 | (169,461) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 24,892 | 24,892 | ||||||
Other comprehensive (loss) income | (11,915) | (11,915) | ||||||
Stock options exercised (in shares) | 4,000 | |||||||
Stock options exercised | 78 | $ 78 | ||||||
RSU vesting | 626 | 626 | ||||||
PSU vesting | 304 | $ 304 | ||||||
RSUs released (in shares) | 45,668 | |||||||
PSUs released (in shares) | 55,928 | |||||||
Repurchase of common stock (in shares) | (41,586) | |||||||
Repurchase of common stock | (1,479) | $ (871) | (608) | |||||
Dividends paid | $ (9,970) | (9,970) | ||||||
Ending balance (in shares) at Jun. 30, 2023 | 33,259,260 | 33,259,260 | ||||||
Ending balance at Jun. 30, 2023 | $ 1,092,781 | $ 695,305 | $ 578,852 | $ (181,376) |
Condensed Consolidated Statem_4
Condensed 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 | |
Common Stock | ||||
Dividends paid, per share (in USD per share) | $ 0.30 | $ 0.30 | $ 0.60 | $ 0.50 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Operating activities: | |||
Net income | $ 60,725 | $ 51,738 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation of premises and equipment, and amortization | 3,187 | 2,962 | |
Amortization of intangible assets | 3,312 | 2,930 | |
Provision for credit losses on loans | 13,295 | 10,145 | |
Amortization of investment securities premium, net | 572 | 6,297 | |
Loss on sale of investment securities | 164 | 0 | |
Originations of loans for resale | (19,230) | (50,254) | |
Proceeds from sale of loans originated for resale | 20,373 | 53,806 | |
Gain on sale of loans | (501) | (1,788) | |
Change in market value of mortgage servicing rights | 125 | (410) | |
Provision for losses on foreclosed assets | 525 | 0 | |
(Gain) loss on transfer of loans to foreclosed assets | 0 | (97) | |
Operating lease expense payments | (3,264) | (2,815) | |
Loss (gain) on disposal of fixed assets | 18 | (1,073) | |
Increase in cash value of life insurance | (1,590) | (1,390) | |
Loss on marketable equity securities | 0 | 232 | |
Equity compensation vesting expense | 1,971 | 1,742 | |
Change in: | |||
Interest receivable | (979) | (3,175) | |
Interest payable | 2,488 | (699) | |
Amortization of operating lease ROUA | 3,359 | 2,930 | |
Other assets and liabilities, net | (28,354) | 1,059 | |
Net cash from operating activities | 56,196 | 72,140 | |
Investing activities: | |||
Proceeds from maturities of securities available for sale | 159,494 | 151,486 | |
Proceeds from maturities of securities held to maturity | 15,756 | 22,752 | |
Proceeds from sale of available for sale securities | 24,160 | 0 | |
Purchases of securities available for sale | (34,468) | (654,691) | |
Loan origination and principal collections, net | (71,939) | (423,606) | |
Proceeds from sale of premises and equipment | 0 | 6,689 | |
Purchases of premises and equipment | (3,238) | (2,223) | |
Cash acquired from VRB, net of cash consideration paid | 0 | 426,883 | |
Net cash from (used by) investing activities | 89,765 | (472,710) | |
Financing activities: | |||
Net change in deposits | (233,648) | 174,137 | |
Net change in other borrowings | 128,109 | (14,998) | |
Repurchase of common stock, net of option exercises | (9,074) | (22,586) | |
Dividends paid | (19,942) | (15,792) | |
Exercise of stock options | 156 | 256 | |
Net cash (used by) from financing activities | (134,399) | 121,017 | |
Net change in cash and cash equivalents | 11,562 | (279,553) | |
Cash and cash equivalents, beginning of period | 107,230 | 768,421 | |
Cash and cash equivalents, end of period | 118,792 | 488,868 | |
Supplemental disclosure of noncash activities: | |||
Unrealized gain (loss) on securities available for sale | 17,787 | (208,710) | |
Loans transferred to held-for-sale | 0 | 12,044 | |
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes | 2,100 | 829 | |
Obligations incurred in conjunction with leased assets | 4,855 | 3,867 | |
Loans transferred to foreclosed assets | 0 | 688 | |
Supplemental disclosure of cash flow activity: | |||
Cash paid for interest expense | 25,639 | 3,353 | |
Cash paid for income taxes | 35,300 | 12,000 | |
Business combination | [1] | ||
[1](1) During the period ended March 31, 2022, the VRB acquisition included fair value tangible assets acquired of $1.37 billion, liabilities assumed of $1.28 billion, resulting in goodwill of $0.09 billion. |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands | Jun. 30, 2022 USD ($) |
VRB Acquisition | |
Fair value of tangible assets | $ 1,370,000 |
Fair value of liabilities assumed | 1,280,000 |
Goodwill | $ 90,000 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Description of Business and Basis of Presentation TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 33 California counties. The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation. The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1.76 million are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheets. See the footnote 'Junior Subordinated Debt' for additional information on borrowings outstanding. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading. Segment and Significant Group Concentration of Credit Risk The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking. Geographical Descriptions For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo. Reclassification Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’ equity. Cash and Cash Equivalents Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents. Allowance for Credit Losses - Securities The Company measures expected credit losses on HTM debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on HTM debt securities was considered insignificant at June 30, 2023 and is therefore excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption. Management has separately evaluated its HTM investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. As a result of this evaluation, management determined that the expected credit losses associated with these securities is not significant for financial reporting purposes and therefore, no allowance for credit losses has been recognized. The Company evaluates AFS debt securities in an unrealized loss position to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in other comprehensive income, net of applicable taxes. Credit-related impairment is recognized as an allowance for credit losses on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Both the allowance for credit losses and the adjustment to net income may be reversed if conditions change. However, if the Company intends to sell an impaired available for sale 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 is recognized in earnings with a corresponding adjustment to the security's amortized cost basis. In evaluating available for sale debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, the Company considers 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. Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the ACL when management believes the uncollectability of an available for sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. No security credit losses were recognized during the six-month periods ended June 30, 2023 and 2022, respectively. Loans Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses. Allowance for Credit Losses - Loans The ACL is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged-off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate. Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels, changes in corporate debt yields, and U.S. gross domestic product. PCD assets are assets acquired at a discount that is due, in part, to credit quality deterioration since origination. PCD assets are accounted for in accordance with ASC 326-20 and are initially recorded at fair value, by taking the sum of the present value of expected future cash flows and an allowance for credit losses, at acquisition. The allowance for credit losses for PCD assets is recorded through a gross-up of reserves on the balance sheet, while the allowance for acquired non-PCD assets, such as loans, is recorded through the provision for credit losses on the income statement, consistent with originated loans. Subsequent to acquisition, the allowance for credit losses for PCD loans will generally follow the same forward-looking estimation, provision, and charge-off process as non-PCD acquired and originated loans. The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss: Commercial real estate : Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five fifteen Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five fifteen Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss. Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment. Consumer loans : SFR 1-4 1st DT Liens: The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate. SFR HELOCs and Junior Liens: Similar to residential real estate term loans, HELOCs and junior liens performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC. Other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate. Commercial and Industrial: Repayment of these loans is primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits. Construction : While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors. Agriculture Production: Repayment of agricultural loans is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural production loans may involve a greater degree of risk than other types of loans. Leases: The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above. Unfunded commitments : The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the consolidated balance sheet in other liabilities. Accounting Standards Recently Issued or Adopted FASB issued ASU 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. This ASU permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The adoption of this accounting guidance is not expected to have a material impact on the Company’s consolidated financial statements. |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Combinations | Business Combinations On March 25, 2022, the Company completed its acquisition of Valley Republic Bancorp, including the merger of Valley Republic Bank into Tri Counties Bank, with Tri Counties Bank as the surviving entity, in accordance with the terms of the merger agreement dated as of July 27, 2021. The cash and stock transaction was valued at approximately $174.0 million in aggregate, based on TriCo's closing stock price of $42.48 on March 25, 2022. Under the terms of the merger agreement, the Company issued approximately 4.1 million shares, in addition to approximately $0.4 million in cash paid out for settlement of stock option awards at VRB. The following table summarizes the consideration paid for VRB and the amounts of assets acquired and liabilities assumed that were recorded at the acquisition date (in thousands): Fair Value as of Fair value of consideration transferred: Fair value of shares issued $ 173,585 Cash consideration 431 Total fair value of consideration transferred 174,016 Assets acquired: Cash and cash equivalents 427,314 Securities available for sale 109,716 Loans and leases 771,353 Premises and equipment 4,658 Cash value of life insurance 13,609 Core deposit intangible 10,635 Other assets 29,744 Total assets acquired 1,367,029 Liabilities assumed: Deposits (1,215,479) Subordinated debt (47,236) SERP liability (3,352) Other liabilities (10,516) Total liabilities assumed (1,276,583) Total net assets acquired 90,446 Goodwill recognized $ 83,570 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables: June 30, 2023 (in thousands) Amortized Gross Gross Allowance for Credit Losses Estimated Debt Securities Available for Sale Obligations of U.S. government agencies $ 1,497,396 $ — $ (187,972) $ — $ 1,309,424 Obligations of states and political subdivisions 307,961 377 (32,687) — 275,651 Corporate bonds 6,168 — (667) — 5,501 Asset backed securities 464,331 46 (10,910) — 453,467 Non-agency collateralized mortgage obligations 317,319 — (40,949) — 276,370 Total debt securities available for sale $ 2,593,175 $ 423 $ (273,185) $ — $ 2,320,413 Debt Securities Held to Maturity Obligations of U.S. government agencies $ 142,466 $ 1 $ (10,664) — 131,803 Obligations of states and political subdivisions 2,651 1 (46) — 2,606 Total debt securities held to maturity $ 145,117 $ 2 $ (10,710) $ — $ 134,409 December 31, 2022 (in thousands) Amortized Gross Gross Allowance for Credit Losses Estimated Debt Securities Available for Sale Obligations of U.S. government agencies $ 1,568,408 $ 3 $ (195,642) $ — $ 1,372,769 Obligations of states and political subdivisions 332,625 401 (39,821) — 293,205 Corporate bonds 6,164 — (413) — 5,751 Asset backed securities 454,943 17 (15,193) — 439,767 Non-agency collateralized mortgage obligations 380,847 — (39,901) — 340,946 Total debt securities available for sale $ 2,742,987 $ 421 $ (290,970) $ — $ 2,452,438 Debt Securities Held to Maturity Obligations of U.S. government agencies $ 154,830 $ 2 $ (11,013) $ — $ 143,819 Obligations of states and political subdivisions 6,153 13 (47) — 6,119 Total debt securities held to maturity $ 160,983 $ 15 $ (11,060) $ — $ 149,938 Proceeds from the sale of investment securities totaled $24.2 million for the three and six months ended June 30, 2023, with no resulting gain or loss. There were no sales of investment securities during the three and six months ended June 30, 2022. Investment securities with an aggregate carrying value of $624.4 million and $595.8 million at June 30, 2023 and December 31, 2022, respectively, were pledged as collateral for specific borrowings, lines of credit or local agency deposits. The amortized cost and estimated fair value of debt securities at June 30, 2023 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. At June 30, 2023, obligations of U.S. government corporations and agencies with a cost basis totaling $1.5 billion consist almost entirely of residential real estate mortgage-backed securities whose contractual maturity, or principal repayment, will follow the repayment of the underlying mortgages. For purposes of the following table, the entire outstanding balance of these mortgage-backed securities issued by U.S. government corporations and agencies is categorized based on final maturity date. At June 30, 2023, the Company estimates the average remaining life of these mortgage-backed securities issued by U.S. government corporations and agencies to be approximately 6.54 years. Average remaining life is defined as the time span after which the principal balance has been reduced by half. As of June 30, 2023, the contractual final maturity for available for sale and held to maturity investment securities is as follows: Debt Securities Available for Sale Held to Maturity (in thousands) Amortized Estimated Amortized Estimated Due in one year $ 91,262 $ 88,777 $ — $ — Due after one year through five years 75,911 72,601 6,790 6,485 Due after five years through ten years 406,088 385,442 30,471 27,882 Due after ten years 2,019,914 1,773,593 107,856 100,042 Totals $ 2,593,175 $ 2,320,413 $ 145,117 $ 134,409 Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: June 30, 2023: Less than 12 months 12 months or more Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Debt Securities Available for Sale Obligations of U.S. government agencies $ 148,377 $ (9,454) $ 1,160,872 $ (178,518) $ 1,309,249 $ (187,972) Obligations of states and political subdivisions 42,997 (958) 204,574 (31,729) 247,571 (32,687) Corporate bonds — — 5,501 (667) 5,501 (667) Asset backed securities 88,449 (1,240) 359,902 (9,670) 448,351 (10,910) Non-agency collateralized mortgage obligations 61,766 (2,173) 214,604 (38,776) 276,370 (40,949) Total debt securities available for sale $ 341,589 $ (13,825) $ 1,945,453 $ (259,360) $ 2,287,042 $ (273,185) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 39,059 $ (2,530) $ 92,743 $ (8,134) $ 131,802 $ (10,664) Obligations of states and political subdivisions 973 (22) 546 (24) 1,519 (46) Total debt securities held to maturity $ 40,032 $ (2,552) $ 93,289 $ (8,158) $ 133,321 $ (10,710) December 31, 2022: Less than 12 months 12 months or more Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Debt Securities Available for Sale Obligations of U.S. government agencies $ 605,615 $ (61,408) $ 766,612 $ (134,234) $ 1,372,227 $ (195,642) Obligations of states and political subdivisions 219,532 (26,904) 43,282 (12,917) 262,814 (39,821) Corporate bonds 5,751 (413) — — 5,751 (413) Asset backed securities 231,703 (4,955) 205,329 (10,238) 437,032 (15,193) Non-agency collateralized mortgage obligations 123,075 (3,421) 203,620 (36,480) 326,695 (39,901) Total debt securities available for sale $ 1,185,676 (97,101) $ 1,218,843 $ (193,869) $ 2,404,519 $ (290,970) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 143,577 $ (11,013) $ — $ — $ 143,577 $ (11,013) Obligations of states and political subdivisions 4,530 (47) — — 4,530 (47) Total debt securities held to maturity $ 148,107 $ (11,060) $ — $ — $ 148,107 $ (11,060) Obligations of U.S. government agencies: The unrealized losses on investments in obligations of U.S. government agencies are caused by interest rate increases and illiquidity. The contractual cash flows of these securities are guaranteed by U.S. Government Sponsored Entities (principally Fannie Mae and Freddie Mac). It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded. At June 30, 2023, 265 debt securities representing obligations of U.S. government agencies had unrealized losses with aggregate depreciation of 12.11% from the Company’s amortized cost basis. Obligations of states and political subdivisions: The unrealized losses on investments in obligations of states and political subdivisions were caused by increases in required yields by investors in these types of securities. It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of June 30, 2023. At June 30, 2023, 172 debt securities representing obligations of states and political subdivisions had unrealized losses with aggregate depreciation of 11.61% from the Company’s amortized cost basis. Corporate bonds: The unrealized losses on investments in corporate bonds were caused by increases in required yields by investors in these types of securities. It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of June 30, 2023. At June 30, 2023, 6 debt securities representing corporate bonds had unrealized losses with aggregate depreciation of 10.81% from the Company’s amortized cost basis. Asset backed securities: The unrealized losses on investments in asset backed securities were caused by increases in required yields by investors for these types of securities. At the time of purchase, each of these securities was rated AA or AAA and through June 30, 2023 has not experienced any deterioration in credit rating. At June 30, 2023, 48 asset backed securities had unrealized losses with aggregate depreciation of 2.38% from the Company’s amortized cost basis. The Company continues to monitor these securities for changes in credit rating or other indications of credit deterioration. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of June 30, 2023. Non-agency collateralized mortgage obligations: The unrealized losses on investments in asset backed securities were caused by increases in required yields by investors in these types of securities. It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses as of and for the year ended June 30, 2023. At June 30, 2023, 21 asset backed securities had unrealized losses with aggregate depreciation of 12.90% from the Company’s amortized cost basis. The Company monitors credit quality of debt securities held-to-maturity through the use of credit rating. The Company monitors the credit rating on a monthly basis. The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator: June 30, 2023 December 31, 2022 (in thousands) AAA/AA/A BBB/BB/B AAA/AA/A BBB/BB/B Obligations of U.S. government agencies $ 142,466 $ — $ 154,830 $ — Obligations of states and political subdivisions 2,651 — 6,153 — Total debt securities held to maturity $ 145,117 $ — $ 160,983 $ — |
Loans
Loans | 6 Months Ended |
Jun. 30, 2023 | |
Receivables [Abstract] | |
Loans | Loans A summary of loan balances at amortized cost are as follows: (in thousands) June 30, 2023 December 31, 2022 Commercial real estate: CRE non-owner occupied $ 2,143,146 $ 2,149,725 CRE owner occupied 972,361 984,807 Multifamily 951,590 944,537 Farmland 276,827 280,014 Total commercial real estate loans 4,343,924 4,359,083 Consumer: SFR 1-4 1st DT liens 829,346 790,349 SFR HELOCs and junior liens 363,600 393,666 Other 59,279 56,728 Total consumer loans 1,252,225 1,240,743 Commercial and industrial 576,247 569,921 Construction 278,425 211,560 Agriculture production 61,337 61,414 Leases 8,582 7,726 Total loans, net of deferred loan fees and discounts $ 6,520,740 $ 6,450,447 Total principal balance of loans owed, net of charge-offs $ 6,565,576 $ 6,496,210 Unamortized net deferred loan fees (17,182) (15,275) Discounts to principal balance of loans owed, net of charge-offs (27,654) (30,488) Total loans, net of unamortized deferred loan fees and discounts $ 6,520,740 $ 6,450,447 Allowance for credit losses on loans $ (117,329) $ (105,680) |
Allowance for Credit Losses
Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2023 | |
Allowance For Loan And Lease Losses [Abstract] | |
Allowance for Credit Losses | Allowance for Credit Losses For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities: Allowance for credit losses – Three months ended June 30, 2023 (in thousands) Beginning Charge-offs Recoveries Provision (benefit) Ending Commercial real estate: CRE non-owner occupied $ 32,963 $ — $ — $ 79 $ 33,042 CRE owner occupied 14,559 — 1 5,648 20,208 Multifamily 13,873 — — 202 14,075 Farmland 3,542 — — 149 3,691 Total commercial real estate loans 64,937 — 1 6,078 71,016 Consumer: SFR 1-4 1st DT liens 11,920 — — 1,214 13,134 SFR HELOCs and junior liens 10,914 — 37 (343) 10,608 Other 2,062 (163) 26 846 2,771 Total consumer loans 24,896 (163) 63 1,717 26,513 Commercial and industrial 12,069 (113) 123 (432) 11,647 Construction 5,655 — — 1,376 7,031 Agriculture production 833 — 31 241 1,105 Leases 17 — — — 17 Allowance for credit losses on loans 108,407 (276) 218 8,980 117,329 Reserve for unfunded commitments 4,195 — — 670 4,865 Total $ 112,602 $ (276) $ 218 $ 9,650 $ 122,194 Allowance for credit losses – Six months ended June 30, 2023 (in thousands) Beginning Charge-offs Recoveries Provision (benefit) Ending Commercial real estate: CRE non-owner occupied $ 30,962 $ — $ — $ 2,080 $ 33,042 CRE owner occupied 14,014 — 1 6,193 20,208 Multifamily 13,132 — — 943 14,075 Farmland 3,273 — — 418 3,691 Total commercial real estate loans 61,381 — 1 9,634 71,016 Consumer: SFR 1-4 1st DT liens 11,268 — — 1,866 13,134 SFR HELOCs and junior liens 11,413 (42) 102 (865) 10,608 Other 1,958 (305) 77 1,041 2,771 Total consumer loans 24,639 (347) 179 2,042 26,513 Commercial and industrial 13,597 (1,687) 176 (439) 11,647 Construction 5,142 — — 1,889 7,031 Agriculture production 906 — 32 167 1,105 Leases 15 — — 2 17 Allowance for credit losses on loans 105,680 (2,034) 388 13,295 117,329 Reserve for unfunded commitments 4,315 — — 550 4,865 Total $ 109,995 $ (2,034) $ 388 $ 13,845 $ 122,194 In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. The Company utilizes a forecast period of approximately eight quarters and obtains the forecast data from publicly available sources as of the balance sheet date. This forecast data continues to evolve and includes improving shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date, particularly CA unemployment trends. Despite continued declines on a year over year comparative basis, core inflation remains elevated from wage pressures, and higher living costs such as housing and food prices. Management notes the rapid intervals of rate increases by the Federal Reserve and flattening or inversion of the yield curve, have formed expectations of the US entering a recession within 12 months. As a result, management continues to believe that certain credit weaknesses are likely present in the overall economy and that it is appropriate to cautiously maintain a reserve level that incorporates such risk factors. Purchased loans and leases that reflect a more-than-insignificant deterioration of credit from origination are considered PCD. For PCD loans and leases, the initial estimate of expected credit losses is recognized in the ACL on the date of acquisition using the same methodology as other loans and leases held-for-investment. The following table provides a summary of loans and leases purchased as part of the VRB acquisition with credit deterioration at acquisition: As of March 25, 2022 (in thousands) Commercial Real Estate Consumer Commercial and Industrial Construction Agriculture Production Total Par value $ 27,237 $ 3,877 $ 2,674 $ 25,645 $ 9,080 $ 68,513 ACL at acquisition (1,573) (144) (81) (201) (38) (2,037) Non-credit discount (2,305) (360) (47) (232) (12) (2,956) Purchase price $ 23,359 $ 3,373 $ 2,546 $ 25,212 $ 9,030 $ 63,520 For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities: Allowance for credit losses – Year ended December 31, 2022 (in thousands) Beginning ACL of PCD Loans Charge-offs Recoveries Provision Ending Balance Commercial real estate: CRE non-owner occupied $ 25,739 $ 746 $ — $ 1 $ 4,476 $ 30,962 CRE owner occupied 10,691 63 — 2 3,258 14,014 Multifamily 12,395 — — — 737 13,132 Farmland 2,315 764 (294) — 488 3,273 Total commercial real estate loans 51,140 1,573 (294) 3 8,959 61,381 Consumer: SFR 1-4 1st DT liens 10,723 144 — 79 322 11,268 SFR HELOCs and junior liens 10,510 — (22) 429 496 11,413 Other 2,241 — (572) 235 54 1,958 Total consumer loans 23,474 144 (594) 743 872 24,639 Commercial and industrial 3,862 81 (697) 1,157 9,194 13,597 Construction 5,667 201 — — (726) 5,142 Agriculture production 1,215 38 — 4 (351) 906 Leases 18 — — — (3) 15 Allowance for credit losses on loans 85,376 2,037 (1,585) 1,907 17,945 105,680 Reserve for unfunded commitments 3,790 — — — 525 4,315 Total $ 89,166 $ 2,037 $ (1,585) $ 1,907 $ 18,470 $ 109,995 Allowance for credit losses – Three months ended June 30, 2022 (in thousands) Beginning ACL of PCD Loans Charge-offs Recoveries Provision (benefit) Ending Balance Commercial real estate: CRE non-owner occupied $ 28,055 $ — $ — $ 26 $ 28,081 CRE owner occupied 12,071 — 1 548 12,620 Multifamily 11,987 — — (192) 11,795 Farmland 2,879 — — 75 2,954 Total commercial real estate loans 54,992 — — 1 457 55,450 Consumer: SFR 1-4 1st DT liens 10,669 — 1 (359) 10,311 SFR HELOCs and junior liens 10,843 — 153 595 11,591 Other 2,167 (166) 76 (48) 2,029 Total consumer loans 23,679 — (166) 230 188 23,931 Commercial and industrial 9,042 (235) 124 1,048 9,979 Construction 7,437 — — 85 7,522 Agriculture production 883 — 1 162 1,046 Leases 16 — — — 16 Allowance for credit losses on loans 96,049 — (401) 356 1,940 97,944 Reserve for unfunded commitments 3,915 — — 160 4,075 Total $ 99,964 $ — $ (401) $ 356 $ 2,100 $ 102,019 Allowance for credit losses – Six months ended June 30, 2022 (in thousands) Beginning Adoption of CECL Charge-offs Recoveries Provision (benefit) Ending Balance Commercial real estate: CRE non-owner occupied $ 25,739 $ 746 $ — $ — $ 1,596 $ 28,081 CRE owner occupied 10,691 63 — 1 1,865 12,620 Multifamily 12,395 — — — (600) 11,795 Farmland 2,315 764 (294) — 169 2,954 Total commercial real estate loans 51,140 1,573 (294) 1 3,030 55,450 Consumer: SFR 1-4 1st DT liens 10,723 144 — 41 (597) 10,311 SFR HELOCs and junior liens 10,510 — — 328 753 11,591 Other 2,241 — (285) 147 (74) 2,029 Total consumer loans 23,474 144 (285) 516 82 23,931 Commercial and industrial 3,862 81 (565) 1,011 5,590 9,979 Construction 5,667 201 — — 1,654 7,522 Agriculture production 1,215 38 — 2 (209) 1,046 Leases 18 — — — (2) 16 Allowance for credit losses on loans 85,376 2,037 (1,144) 1,530 10,145 97,944 Reserve for unfunded commitments 3,790 — — — 285 4,075 Total $ 89,166 $ 2,037 $ (1,144) $ 1,530 $ 10,430 $ 102,019 As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including, but not limited to, trends relating to (i) the level of criticized and classified loans, (ii) net charge-offs, (iii) non-performing loans, and (iv) delinquency within the portfolio. The Company analyzes loans individually to classify the loans as to credit risk and grading. This analysis is performed annually for all outstanding balances greater than $1 million and non-homogeneous loans, such as commercial real estate loans, unless other indicators, such as delinquency, trigger more frequent evaluation. Loans below the $1 million threshold and homogenous in nature are evaluated as needed for proper grading based on delinquency and borrower credit scores. The Company utilizes a risk grading system to assign a risk grade to each of its loans. Loans are graded on a scale ranging from Pass to Loss. A description of the general characteristics of the risk grades is as follows: • Pass – This grade represents loans ranging from acceptable to very little or no credit risk. These loans typically meet most if not all policy standards in regard to: loan amount as a percentage of collateral value, debt service coverage, profitability, leverage, and working capital. • Special Mention – This grade represents “Other Assets Especially Mentioned” in accordance with regulatory guidelines and includes loans that display some potential weaknesses which, if left unaddressed, may result in deterioration of the repayment prospects for the asset or may inadequately protect the Company’s position in the future. These loans warrant more than normal supervision and attention. • Substandard – This grade represents “Substandard” loans in accordance with regulatory guidelines. Loans within this rating typically exhibit weaknesses that are well defined to the point that repayment is jeopardized. Loss potential is, however, not necessarily evident. The underlying collateral supporting the credit appears to have sufficient value to protect the Company from loss of principal and accrued interest, or the loan has been written down to the point where this is true. There is a definite need for a well-defined workout/rehabilitation program. • Doubtful – This grade represents “Doubtful” loans in accordance with regulatory guidelines. An asset classified as Doubtful has all the weaknesses inherent in a loan classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and financing plans. • Loss – This grade represents “Loss” loans in accordance with regulatory guidelines. A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan, even though some recovery may be affected in the future. The portion of the loan that is graded loss should be charged off no later than the end of the quarter in which the loss is identified. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated: Term Loans Amortized Cost Basis by Origination Year – As of June 30, 2023 (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: CRE non-owner occupied risk ratings Pass $ 74,480 $ 411,202 $ 287,950 $ 139,902 $ 224,859 $ 833,291 $ 104,382 $ — $ 2,076,066 Special Mention — — 7,422 5,450 17,579 27,217 1,347 — 59,015 Substandard — — 791 — 2,392 4,670 212 — 8,065 Doubtful/Loss — — — — — — — — — Total $ 74,480 $ 411,202 $ 296,163 $ 145,352 $ 244,830 $ 865,178 $ 105,941 $ — $ 2,143,146 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate: CRE owner occupied risk ratings Pass $ 43,483 $ 191,817 $ 193,284 $ 122,066 $ 61,481 $ 284,127 $ 29,719 $ — $ 925,977 Special Mention 73 845 14,981 3,040 717 6,386 — — 26,042 Substandard — 3,072 1,176 5,185 112 10,644 153 — 20,342 Doubtful/Loss — — — — — — — — — Total $ 43,556 $ 195,734 $ 209,441 $ 130,291 $ 62,310 $ 301,157 $ 29,872 $ — $ 972,361 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Term Loans Amortized Cost Basis by Origination Year – As of June 30, 2023 (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: Multifamily risk ratings Pass $ 7,578 $ 179,229 $ 280,895 $ 90,198 $ 107,518 $ 236,312 $ 37,843 $ — $ 939,573 Special Mention — — 11,908 — — — — — 11,908 Substandard — — — — — 109 — — 109 Doubtful/Loss — — — — — — — — — Total $ 7,578 $ 179,229 $ 292,803 $ 90,198 $ 107,518 $ 236,421 $ 37,843 $ — $ 951,590 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate: Farmland risk ratings Pass $ 14,477 $ 46,947 $ 46,891 $ 16,295 $ 17,340 $ 44,959 $ 54,290 $ — $ 241,199 Special Mention — 3,119 4,986 326 5,234 4,834 736 — 19,235 Substandard — — 790 365 — 10,458 4,780 — 16,393 Doubtful/Loss — — — — — — — — — Total $ 14,477 $ 50,066 $ 52,667 $ 16,986 $ 22,574 $ 60,251 $ 59,806 $ — $ 276,827 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer loans: SFR 1-4 1st DT liens risk ratings Pass $ 52,682 $ 191,299 $ 269,009 $ 126,461 $ 31,577 $ 138,088 $ — $ 3,542 $ 812,658 Special Mention — 1,073 — 3,214 815 6,810 — 34 11,946 Substandard — 155 1,332 — — 2,500 — 755 4,742 Doubtful/Loss — — — — — — — — — Total $ 52,682 $ 192,527 $ 270,341 $ 129,675 $ 32,392 $ 147,398 $ — $ 4,331 $ 829,346 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer loans: SFR HELOCs and Junior Liens Pass $ 307 $ — $ — $ — $ — $ 110 $ 350,621 $ 7,487 $ 358,525 Special Mention — — — — — — 959 137 1,096 Substandard — — — — — — 3,461 518 3,979 Doubtful/Loss — — — — — — — — — Total $ 307 $ — $ — $ — $ — $ 110 $ 355,041 $ 8,142 $ 363,600 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer loans: Other risk ratings Pass $ 13,725 $ 10,649 $ 10,641 $ 8,747 $ 8,510 $ 5,716 $ 654 $ — $ 58,642 Special Mention — — 99 17 60 82 18 — 276 Substandard 90 42 60 30 74 44 21 — 361 Doubtful/Loss — — — — — — — — — Total $ 13,815 $ 10,691 $ 10,800 $ 8,794 $ 8,644 $ 5,842 $ 693 $ — $ 59,279 Current period gross charge-offs $ 72 $ 48 $ — $ 36 $ — $ 2 $ 5 $ — $ 163 Term Loans Amortized Cost Basis by Origination Year – As of June 30, 2023 (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial and industrial loans: Commercial and industrial risk ratings Pass $ 40,481 $ 94,564 $ 61,113 $ 12,857 $ 17,544 $ 9,489 $ 319,172 $ 308 $ 555,528 Special Mention 658 2,999 238 64 26 970 7,116 401 12,472 Substandard — 1,245 1,703 3,029 19 271 1,881 99 8,247 Doubtful/Loss — — — — — — — — — Total $ 41,139 $ 98,808 $ 63,054 $ 15,950 $ 17,589 $ 10,730 $ 328,169 $ 808 $ 576,247 Current period gross charge-offs $ 63 $ — $ — $ — $ — $ — $ 50 $ — $ 113 Construction loans: Construction risk ratings Pass $ 19,561 $ 126,026 $ 66,947 $ 47,431 $ 4,822 $ 6,572 $ — $ — $ 271,359 Special Mention — 6,993 — — — — — — 6,993 Substandard — — — — 73 — — — 73 Doubtful/Loss — — — — — — — — — Total $ 19,561 $ 133,019 $ 66,947 $ 47,431 $ 4,895 $ 6,572 $ — $ — $ 278,425 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Agriculture production loans: Agriculture production risk ratings Pass $ 249 $ 3,154 $ 2,407 $ 882 $ 875 $ 8,611 $ 35,606 $ — $ 51,784 Special Mention — — — — — 296 6,399 — 6,695 Substandard — — — — — — 2,858 — 2,858 Doubtful/Loss — — — — — — — — — Total $ 249 $ 3,154 $ 2,407 $ 882 $ 875 $ 8,907 $ 44,863 $ — $ 61,337 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Leases: Lease risk ratings Pass $ 8,582 $ — $ — $ — $ — $ — $ — $ — $8,582 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful/Loss — — — — — — — — — Total $ 8,582 $ — $ — $ — $ — $ — $ — $ — $ 8,582 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total loans outstanding: Risk ratings Pass $ 275,605 $ 1,254,887 $ 1,219,137 $ 564,839 $ 474,526 $ 1,567,275 $ 932,287 $ 11,337 $ 6,299,893 Special Mention 731 15,029 39,634 12,111 24,431 46,595 16,575 572 155,678 Substandard 90 4,514 5,852 8,609 2,670 28,696 13,366 1,372 65,169 Doubtful/Loss — — — — — — — — — Total $ 276,426 $ 1,274,430 $ 1,264,623 $ 585,559 $ 501,627 $ 1,642,566 $ 962,228 $ 13,281 $ 6,520,740 Current period gross charge-offs $ 135 $ 48 $ — $ 36 $ — $ 2 $ 55 $ — $ 276 Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022 (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: CRE non-owner occupied risk ratings Pass $ 399,910 $ 304,636 $ 152,960 $ 221,659 $ 147,842 $ 748,994 $ 123,794 $ — $ 2,099,795 Special Mention — — — 20,033 — 21,681 1,346 — 43,060 Substandard — 864 768 — 1,059 4,179 — — 6,870 Doubtful/Loss — — — — — — — — — Total $ 399,910 $ 305,500 $ 153,728 $ 241,692 $ 148,901 $ 774,854 $ 125,140 $ — $ 2,149,725 Commercial real estate: CRE owner occupied risk ratings Pass $ 210,101 $ 197,787 $ 120,929 $ 64,244 $ 49,755 $ 251,137 $ 43,343 $ — $ 937,296 Special Mention 131 16,296 234 731 — 6,971 879 — 25,242 Substandard 3,213 — 5,249 1,893 1,103 10,654 157 — 22,269 Doubtful/Loss — — — — — — — — — Total $ 213,445 $ 214,083 $ 126,412 $ 66,868 $ 50,858 $ 268,762 $ 44,379 $ — $ 984,807 Commercial real estate: Multifamily risk ratings Pass $ 159,318 $ 290,170 $ 96,937 $ 108,586 $ 106,287 $ 154,125 $ 28,989 $ — $ 944,412 Special Mention — — — — — — — — — Substandard — — — — — 125 — — 125 Doubtful/Loss — — — — — — — — — Total $ 159,318 $ 290,170 $ 96,937 $ 108,586 $ 106,287 $ 154,250 $ 28,989 $ — $ 944,537 Commercial real estate: Farmland risk ratings Pass $ 47,067 $ 53,275 $ 16,739 $ 18,589 $ 12,386 $ 34,528 $ 53,684 $ — $ 236,268 Special Mention 3,139 783 246 5,000 — 3,991 14,275 — 27,434 Substandard — — 1,772 765 3,158 7,094 3,523 — 16,312 Doubtful/Loss — — — — — — — — — Total $ 50,206 $ 54,058 $ 18,757 $ 24,354 $ 15,544 $ 45,613 $ 71,482 $ — $ 280,014 Consumer loans: SFR 1-4 1st DT liens risk ratings Pass $ 194,933 $ 265,370 $ 131,922 $ 33,395 $ 28,545 $ 115,469 $ 8 $ 2,924 $ 772,566 Special Mention — — 1,531 282 3,277 5,854 — 465 11,409 Substandard — 1,204 — — 1,004 3,521 — 645 6,374 Doubtful/Loss — — — — — — — — — Total $ 194,933 $ 266,574 $ 133,453 $ 33,677 $ 32,826 $ 124,844 $ 8 $ 4,034 $ 790,349 Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022 (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Consumer loans: SFR HELOCs and Junior Liens Pass $ 505 $ — $ — $ — $ — $ 127 $ 378,939 $ 8,462 $ 388,033 Special Mention — — — — — — 1,842 81 1,923 Substandard — — — — — — 3,072 638 3,710 Doubtful/Loss — — — — — — — — — Total $ 505 $ — $ — $ — $ — $ 127 $ 383,853 $ 9,181 $ 393,666 Consumer loans: Other risk ratings Pass $ 14,070 $ 12,990 $ 10,211 $ 10,650 $ 5,225 $ 1,945 $ 899 $ — $ 55,990 Special Mention — 18 77 135 176 32 47 — 485 Substandard — — 42 92 — 96 23 — 253 Doubtful/Loss — — — — — — — — — Total $ 14,070 $ 13,008 $ 10,330 $ 10,877 $ 5,401 $ 2,073 $ 969 $ — $ 56,728 Commercial and industrial loans: Commercial and industrial risk ratings Pass $ 125,710 $ 64,966 $ 17,746 $ 23,131 $ 7,628 $ 5,051 $ 297,341 $ 483 $ 542,056 Special Mention 3,032 139 21 49 138 768 11,547 — 15,694 Substandard 1,293 1,142 5,179 14 33 611 3,798 101 12,171 Doubtful/Loss — — — — — — — — — Total $ 130,035 $ 66,247 $ 22,946 $ 23,194 $ 7,799 $ 6,430 $ 312,686 $ 584 $ 569,921 Construction loans: Construction risk ratings Pass $ 72,840 $ 72,308 $ 43,409 $ 15,358 $ 2,159 $ 4,900 $ — $ — $ 210,974 Special Mention — — — — — — — — — Substandard — — — 457 — 129 — — 586 Doubtful/Loss — — — — — — — — — Total $ 72,840 $ 72,308 $ 43,409 $ 15,815 $ 2,159 $ 5,029 $ — $ — $ 211,560 Agriculture production loans: Agriculture production risk ratings Pass $ 3,414 $ 2,777 $ 1,149 $ 1,104 $ 8,902 $ 1,058 $ 38,425 $ — $ 56,829 Special Mention — — — — 90 31 1,632 — 1,753 Substandard — — — — — — 2,832 — 2,832 Doubtful/Loss — — — — — — — — — Total $ 3,414 $ 2,777 $ 1,149 $ 1,104 $ 8,992 $ 1,089 $ 42,889 $ — $ 61,414 Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022 (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Leases: Lease risk ratings Pass $ 7,726 $ — $ — $ — $ — $ — $ — $ — $ 7,726 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful/Loss — — — — — — — — — Total $ 7,726 $ — $ — $ — $ — $ — $ — $ — $ 7,726 Total loans outstanding: Risk ratings Pass $ 1,235,594 $ 1,264,279 $ 592,002 $ 496,716 $ 368,729 $ 1,317,334 $ 965,422 $ 11,869 $ 6,251,945 Special Mention 6,302 17,236 2,109 26,230 3,681 39,328 31,568 546 127,000 Substandard 4,506 3,210 13,010 3,221 6,357 26,409 13,405 1,384 71,502 Doubtful/Loss — — — — — — — — — Total $ 1,246,402 $ 1,284,725 $ 607,121 $ 526,167 $ 378,767 $ 1,383,071 $ 1,010,395 $ 13,799 $ 6,450,447 The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated: Analysis of Past Due Loans - As of June 30, 2023 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Commercial real estate: CRE non-owner occupied $ 304 $ — $ 347 $ 651 $ 2,142,495 $ 2,143,146 CRE owner occupied 191 — 250 441 971,920 972,361 Multifamily — — — — 951,590 951,590 Farmland 150 — 1,508 1,658 275,169 276,827 Total commercial real estate loans 645 — 2,105 2,750 4,341,174 4,343,924 Consumer: SFR 1-4 1st DT liens 1 106 1,484 1,591 827,755 829,346 SFR HELOCs and junior liens 1,918 391 327 2,636 360,964 363,600 Other 181 76 99 356 58,923 59,279 Total consumer loans 2,100 573 1,910 4,583 1,247,642 1,252,225 Commercial and industrial 158 160 1,399 1,717 574,530 576,247 Construction 400 — — 400 278,025 278,425 Agriculture production — — 33 33 61,304 61,337 Leases — — — — 8,582 8,582 Total $ 3,303 $ 733 $ 5,447 $ 9,483 $ 6,511,257 $ 6,520,740 Analysis of Past Due Loans - As of December 31, 2022 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Commercial real estate: CRE non-owner occupied $ — $ — $ — $ — $ 2,149,725 $ 2,149,725 CRE owner occupied — 98 75 173 984,634 984,807 Multifamily 159 — — 159 944,378 944,537 Farmland — — — — 280,014 280,014 Total commercial real estate loans 159 98 75 332 4,358,751 4,359,083 Consumer: SFR 1-4 1st DT liens 24 — 279 303 790,046 790,349 SFR HELOCs and junior liens 172 166 707 1,045 392,621 393,666 Other 26 34 55 115 56,613 56,728 Total consumer loans 222 200 1,041 1,463 1,239,280 1,240,743 Commercial and industrial 2,300 190 283 2,773 567,148 569,921 Construction — — 379 379 211,181 211,560 Agriculture production — — — — 61,414 61,414 Leases — — — — 7,726 7,726 Total $ 2,681 $ 488 $ 1,778 $ 4,947 $ 6,445,500 $ 6,450,447 The following table shows the ending balance of non accrual loans by loan category as of the date indicated: Non Accrual Loans As of June 30, 2023 As of December 31, 2022 (in thousands) Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Commercial real estate: CRE non-owner occupied $ 1,230 $ 1,230 $ — $ 1,739 $ 1,739 $ — CRE owner occupied 9,090 18,871 — 4,938 4,938 — Multifamily 110 110 — 125 125 — Farmland 2,594 2,230 — 1,772 1,772 — Total commercial real estate loans 13,024 22,441 — 8,574 8,574 — Consumer: SFR 1-4 1st DT liens 3,082 3,393 — 4,117 4,220 — SFR HELOCs and junior liens 3,182 3,489 — 2,498 3,155 — Other 90 129 — 47 84 — Total consumer loans 6,354 7,011 — 6,662 7,459 — Commercial and industrial 6,371 7,504 32 1,224 3,518 — Construction 73 73 — 491 491 — Agriculture production 563 563 — 1,279 1,279 — Leases — — — — — — Sub-total 26,385 37,592 32 18,230 21,321 — Less: Guaranteed loans (798) (964) — (105) (225) Total, net $ 25,587 $ 36,628 $ 32 $ 18,125 $ 21,096 $ — Interest income on non accrual loans that would have been recognized during the three months ended June 30, 2023 and 2022, if all such loans had been current in accordance with their original terms, totaled $0.96 million and $0.24 million, respectively. Interest income actually recognized on these originated loans during the three months ended June 30, 2023 and 2022 was $0.7 million and $0.01 million, respectively. The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods: As of June 30, 2023 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR-1st Deed SFR-2nd Deed Automobile/Truck A/R and Inventory Equipment Total Commercial real estate: CRE non-owner occupied $ 136 $ 304 $ — $ 791 $ — $ — $ — $ — $ — $ — $ — $ 1,231 CRE owner occupied 505 75 — 18,291 — — — — — — — 18,871 Multifamily — — — — 109 — — — — — — 109 Farmland — — — — — 2,594 — — — — — 2,594 Total commercial real estate loans 641 379 — 19,082 109 2,594 — — — — — 22,805 Consumer: SFR 1-4 1st DT liens — — — — — — 3,394 — — — — 3,394 SFR HELOCs and junior liens — — — — — — 1,958 1,224 — — — 3,182 Other — — — 3 — — — — 91 — 26 120 Total consumer loans — — — 3 — — 5,352 1,224 91 — 26 6,696 Commercial and industrial — — — — — — — — — 6,651 853 7,504 Construction — — — — — — 73 — — — — 73 Agriculture production — — — — — — — — — — 563 563 Leases — — — — — — — — — — — — Total $ 641 $ 379 $ — $ 19,085 $ 109 $ 2,594 $ 5,425 $ 1,224 $ 91 $ 6,651 $ 1,442 $ 37,641 As of December 31, 2022 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR -1st Deed SFR -2nd Deed Automobile/Truck A/R and Inventory Equipment Total Commercial real estate: CRE non-owner occupied $ 777 $ 98 $ — $ 864 $ — $ — $ — $ — $ — $ — $ — $ 1,739 CRE owner occupied 548 75 1,103 3,212 — — — — — — — 4,938 Multifamily — — — — 125 — — — — — — 125 Farmland — — — — — 1,772 — — — — — 1,772 Total commercial real estate loans 1,325 173 1,103 4,076 125 1,772 — — — — — 8,574 Consumer: SFR 1-4 1st DT liens — — — — — — 4,220 — — — — 4,220 SFR HELOCs and junior liens — — — — — — 1,664 1,121 — — — 2,785 Other — — — 5 — — — — 61 — 2 68 Total consumer loans — — — 5 — — 5,884 1,121 61 — 2 7,073 Commercial and industrial — — — 1,874 — — — — — 1,596 48 3,518 Construction — — — 379 — — 112 — — — — 491 Agriculture production — — — — — — — — — — 1,279 1,279 Leases — — — — — — — — — — — — Total $ 1,325 $ 173 $ 1,103 $ 6,334 $ 125 $ 1,772 $ 5,996 $ 1,121 $ 61 $ 1,596 $ 1,329 $ 20,935 Modifications to borrowers experiencing financial difficulty may include interest rate reductions, principal or interest forgiveness, forbearances, term extensions, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral. The following tables show the amortized cost basis of loans that were both experiencing financial difficulty and modified during the periods presented. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivables is also presented below. For the three and six months ended June 30, 2023 (in thousands) Payment Delay/Term Extension Total % of Loans Outstanding Commercial real estate: CRE non-owner occupied $ — — % CRE owner occupied — — Multifamily — — Farmland — — Total commercial real estate loans — — Consumer: SFR 1-4 1st DT liens — — SFR HELOCs and junior liens — — Other — — Total consumer loans — — Commercial and industrial 177 0.03 Construction — — Agriculture production — — Leases — — Total $ 177 0.03 % The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2023. Weighted Average Months Term Extension Commercial and industrial 12 There were no loans with payment defaults by borrowers experiencing financial difficulty during the quarter ended June 30, 2023 which had material modifications in rate, term or principal forgiveness during the twelve months prior to default. |
Leases
Leases | 6 Months Ended |
Jun. 30, 2023 | |
Leases [Abstract] | |
Leases | Leases The Company records a ROUA on the consolidated balance sheets for those leases that convey rights to control use of identified assets for a period of time in exchange for consideration. The Company also records a lease liability on the consolidated balance sheets for the present value of future payment commitments. All of the Company’s leases are comprised of operating leases in which the Company is lessee of real estate property for branches, ATM locations, and general administration and operations. The Company has elected not to include short-term leases (i.e. leases with initial terms of 12 month or less) within the ROUA and lease liability. Known or determinable adjustments to the required minimum future lease payments were included in the calculation of the Company’s ROUA and lease liability. Adjustments to the required minimum future lease payments that are variable and will not be determinable until a future period, such as changes in the consumer price index, are included as variable lease costs. Additionally, expected variable payments for common area maintenance, taxes and insurance were unknown and not determinable at lease commencement and therefore, were not included in the determination of the Company’s ROUA or lease liability. The value of the ROUA and lease liability is impacted by the amount of the periodic payment required, length of the lease term, and the discount rate used to calculate the present value of the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. The lease liability is reduced based on the discounted present value of remaining payments as of each reporting period. The ROUA value is measured using the amount of lease liability and adjusted for prepaid or accrued lease payments, remaining lease incentives, unamortized direct costs (if any), and impairment (if any). The following table presents the components of lease expense for the periods ended: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Operating lease cost $ 1,493 $ 1,469 $ 3,102 $ 2,788 Short-term lease cost 118 80 236 133 Variable lease cost 9 7 21 9 Sublease income — — — — Total lease cost $ 1,620 $ 1,556 $ 3,359 $ 2,930 The following table presents supplemental cash flow information related to leases for the periods ended: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,611 $ 1,523 $ 3,264 $ 2,815 ROUA obtained in exchange for operating lease liabilities $ 370 $ — $ 4,855 $ 3,867 The following table presents the weighted average operating lease term and discount rate as of the period ended: June 30, 2023 2022 Weighted-average remaining lease term (years) 8.1 8.7 Weighted-average discount rate 3.29 % 2.91 % At June 30, 2023, future expected operating lease payments are as follows: (in thousands) Periods ending December 31, 2023 $ 3,073 2024 5,879 2025 5,311 2026 4,770 2027 4,083 Thereafter 13,093 36,209 Discount for present value of expected cash flows (4,832) Lease liability at June 30, 2023 $ 31,377 |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2023 | |
Deposits [Abstract] | |
Deposits | Deposits A summary of the balances of deposits follows: (in thousands) June 30, December 31, Noninterest-bearing demand $ 3,073,353 $ 3,502,095 Interest-bearing demand 1,752,086 1,718,541 Savings 2,778,118 2,884,378 Time certificates, $250,000 or more 125,244 46,350 Other time certificates 366,564 177,649 Total deposits $ 8,095,365 $ 8,329,013 Overdrawn deposit balances of $1.3 million and $1.8 million were classified as consumer loans at June 30, 2023 and December 31, 2022, respectively. |
Subordinated Debentures
Subordinated Debentures | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Subordinated Debentures | Borrowings Other Borrowings At June 30, 2023 other borrowings included a $150.0 million term borrowing with an interest rate of 5.11% and maturing in October 2023 and a $200.0 million term borrowing with an interest rate of 4.75% and maturing in April 2024. Subordinated Debentures The following table summarizes the terms and recorded balances of each debenture as of the date indicated (dollars in thousands): Coupon Rate (Variable) 3 mo. LIBOR + As of June 30, 2023 As of December 31, 2022 Subordinated Debt Series Maturity Face Current Recorded Recorded TriCo Cap Trust I 10/7/2033 $ 20,619 3.05 % 8.31 % $ 20,619 $ 20,619 TriCo Cap Trust II 7/23/2034 20,619 2.55 % 7.82 % 20,619 20,619 North Valley Trust II 4/24/2033 6,186 3.25 % 8.55 % 5,551 5,503 North Valley Trust III 7/23/2034 5,155 2.80 % 8.07 % 4,426 4,383 North Valley Trust IV 3/15/2036 10,310 1.33 % 6.88 % 7,502 7,393 VRB Subordinated - 6% 3/29/2029 16,000 Fixed 6.00 % 17,093 17,187 VRB Subordinated - 5% 8/27/2035 20,000 Fixed 5.00 % 25,255 25,336 $ 98,889 $ 101,065 $ 101,040 The VRB - 6% Subordinated Debt issuance has a fixed rate of 6.0% through March 29, 2024, then indexed to the three-month LIBOR plus 3.5% through the maturity date. The VRB - 5% Subordinated Debt issuance is fixed at 5.0% through August 27, 2025, then indexed to the three-month LIBOR plus 4.9% through the maturity date. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The following table presents a summary of the Bank’s commitments and contingent liabilities: (in thousands) June 30, December 31, Financial instruments whose amounts represent risk: Commitments to extend credit: Commercial loans $ 764,278 $ 656,705 Consumer loans 701,542 760,588 Real estate mortgage loans 487,346 458,896 Real estate construction loans 371,943 312,371 Standby letters of credit 26,916 26,599 Deposit account overdraft privilege 125,067 126,634 |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Shareholders' Equity | Shareholders’ Equity Dividends Paid The Bank paid to the Company cash dividends in the aggregate amounts of $11.6 million and $27.7 million during the three months ended June 30, 2023 and 2022, respectively, and $29.8 million and $35.5 million during the equivalent six months periods then ended, respectively. The Bank is regulated by the FDIC and the DFPI. Absent approval from the Commissioner of the DFPI, California banking laws generally limit the Bank’s ability to pay dividends to the lesser of (1) retained earnings or (2) net income for the last three fiscal years, less cash distributions paid during such period. Stock Repurchase Plan On February 25, 2021 the Board of Directors authorized the repurchase of up to 2.0 million shares of the Company's common stock (the 2021 Repurchase Plan), which approximated 6.7% of the shares outstanding as of the approval date. The actual timing of any share repurchases can be determined by the Company's management and therefore the total value of the shares to be purchased under the 2021 Repurchase Plan is subject to change. The 2021 Repurchase Plan has no expiration date (in accordance with applicable laws and regulations). During the three and six months ended June 30, 2023, the Company repurchased zero and 150,000 shares with market values totaling $0 and $6,974,000, respectively. During the three and six months ended June 30, 2022, the Company repurchased 526,749 shares with market values of $21,750,000, respectively. Stock Repurchased Under Equity Compensation Plans The Company's shareholder-approved equity compensation plans permit employees to tender recently vested shares in lieu of cash for the payment of exercise price, if applicable, and the tax withholding on such shares. During the three months ended June 30, 2023 and 2022, exercising option holders tendered 2,506 and 3,687 shares, respectively, of the Company’s common stock in connection with option exercises. During the six months ended June 30, 2023 and 2022, exercising option holders tendered 2,506 and 5,019 shares, respectively, of the Company’s common stock in connection with option exercises. Employees also tendered 39,080 and 14,007 shares in connection with the tax withholding requirements of other share based awards during the three months ended June 30, 2023 and 2022, respectively and 51,461 and 14,007 during the six months ended June 30, 2023 and 2022, respectively. In total, shares of the Company's common stock tendered had market values of $1.5 million and $0.8 million during the quarters ended June 30, 2023 and 2022, respectively, and $2.1 million and $0.8 million during the year to date periods then ended. The tendered shares were retired. The market value of tendered shares is the last market trade price at closing on the day an option is exercised or the other share based award vests. Stock repurchased under equity incentive plans are not included in the total of stock repurchased under the 2021 Stock Repurchase Plans. |
Stock Options and Other Equity-
Stock Options and Other Equity-Based Incentive Instruments | 6 Months Ended |
Jun. 30, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Stock Options and Other Equity-Based Incentive Instruments | Stock Options and Other Equity-Based Incentive Instruments On April 16, 2019, the Board of Directors adopted the 2019 Equity Incentive Plan (2019 Plan) which was approved by shareholders on May 21, 2019. The 2019 Plan allows for up to 1,500,000 shares to be issued in connection with equity-based incentives. The Company’s 2009 Equity Incentive Plan (2009 Plan) expired on March 26, 2019. While no new awards can be granted under the 2009 Plan, existing grants continue to be governed by the terms, conditions and procedures set forth in any applicable award agreement. Stock option activity during the six months ended June 30, 2023 is summarized in the following table: Number Weighted Outstanding at December 31, 2022 15,500 $ 21.27 Options granted — — Options exercised (8,000) 19.46 Options forfeited — — Outstanding at June 30, 2023 7,500 $ 23.21 The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of June 30, 2023: Currently Currently Not Total Number of options 7,500 — 7,500 Weighted average exercise price $ 23.21 $ — $ 23.21 Intrinsic value (in thousands) $ 75 $ — $ 75 Weighted average remaining contractual term (yrs.) 1.3 0 years 1.3 As of June 30, 2023 all options outstanding are fully vested and are expected to be exercised prior to expiration. The Company did not modify any option grants during 2022 or the six months ended June 30, 2023. Activity related to restricted stock unit awards during the six months ended June 30, 2023 is summarized in the following table: Service Market Plus Outstanding at December 31, 2022 139,194 114,481 RSUs granted 83,200 65,911 RSUs added through dividend and performance credits 2,263 — RSUs released (67,786) (55,928) RSUs forfeited/expired (450) (440) Outstanding at June 30, 2023 156,421 124,024 |
Non-interest Income and Expense
Non-interest Income and Expense | 6 Months Ended |
Jun. 30, 2023 | |
Other Income and Expenses [Abstract] | |
Non-interest Income and Expense | Non-interest Income and Expense The following table summarizes the Company’s non-interest income for the periods indicated: Three months ended Six months ended (in thousands) 2023 2022 2023 2022 ATM and interchange fees $ 6,856 $ 6,984 $ 13,200 $ 13,227 Service charges on deposit accounts 4,581 4,163 8,012 7,997 Other service fees 992 1,279 2,158 2,161 Mortgage banking service fees 454 482 919 945 Change in value of mortgage servicing rights 85 136 (124) 410 Total service charges and fees 12,968 13,044 24,165 24,740 Increase in cash value of life insurance 788 752 1,590 1,390 Asset management and commission income 1,158 1,039 2,092 1,926 Gain on sale of loans 295 542 501 1,788 Lease brokerage income 74 238 172 396 Sale of customer checks 407 441 695 545 Loss on sale of investment securities — — (164) — (Loss) gain on marketable equity securities (42) (94) — (231) Other 93 468 325 972 Total other non-interest income 2,773 3,386 5,211 6,786 Total non-interest income $ 15,741 $ 16,430 $ 29,376 $ 31,526 The components of non-interest expense were as follows: Three months ended Six months ended (in thousands) 2023 2022 2023 2022 Base salaries, net of deferred loan origination costs $ 24,059 $ 22,169 $ 47,059 $ 40,385 Incentive compensation 4,377 4,282 7,272 6,865 Benefits and other compensation costs 6,278 6,491 12,946 12,463 Total salaries and benefits expense 34,714 32,942 67,277 59,713 Occupancy 3,991 3,996 8,151 7,571 Data processing and software 4,638 3,596 8,670 7,109 Equipment 1,436 1,453 2,819 2,786 Intangible amortization 1,656 1,702 3,312 2,930 Advertising 1,016 818 1,775 1,455 ATM and POS network charges 1,902 1,781 3,611 3,156 Professional fees 1,985 1,233 3,574 2,109 Telecommunications 809 564 1,404 1,085 Regulatory assessments and insurance 1,993 779 2,785 1,499 Merger and acquisition expense — 2,221 — 6,253 Postage 311 313 610 541 Operational losses 1,090 456 1,525 273 Courier service 483 486 822 900 Gain on sale or acquisition of foreclosed assets — (98) — (98) Gain on disposal of fixed assets 18 5 18 (1,073) Other miscellaneous expense 5,201 4,017 8,684 6,502 Total other non-interest expense 26,529 23,322 47,760 42,998 Total non-interest expense $ 61,243 $ 56,264 $ 115,037 $ 102,711 |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per share represent income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following: Three months ended June 30, (in thousands) 2023 2022 Net income $ 24,892 $ 31,364 Average number of common shares outstanding 33,219 33,561 Effect of dilutive stock options and restricted stock 83 144 Average number of common shares outstanding used to calculate diluted earnings per share 33,302 33,705 Options excluded from diluted earnings per share because of their antidilutive effect — — Six months ended June 30, (in thousands) 2023 2022 Net income $ 60,725 $ 51,738 Average number of common shares outstanding 33,257 31,815 Effect of dilutive stock options and restricted stock 114 148 Average number of common shares outstanding used to calculate diluted earnings per share 33,371 31,963 Options excluded from diluted earnings per share because of their antidilutive effect — — |
Comprehensive Income (Loss)
Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Comprehensive Income (Loss) | Comprehensive Income (Loss) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the balance sheet identified as accumulated other comprehensive income (AOCI), such items, along with net income, are components of other comprehensive income (loss) (OCI). The components of other comprehensive income (loss) and related tax effects are as follows: Three months ended Six months ended (in thousands) 2023 2022 2023 2022 Unrealized holding gains (losses) on available for sale securities before reclassifications $ (16,916) $ (97,408) $ 17,624 $ (208,710) Amounts reclassified out of AOCI: Realized loss on debt securities — — 164 — Unrealized holding gains (losses) on available for sale securities after reclassifications (16,916) (97,408) 17,788 (208,710) Tax effect 5,001 28,797 (5,259) 61,702 Unrealized holding gains (losses) on available for sale securities, net of tax (11,915) (68,611) 12,529 (147,008) Change in unfunded status of the supplemental retirement plans before reclassifications 114 29 228 92 Amounts reclassified out of AOCI: Amortization of prior service cost — (7) — (14) Amortization of actuarial losses (114) 2 (228) 4 Total amounts reclassified out of accumulated other comprehensive (loss) income (114) (5) (228) (10) Change in unfunded status of the supplemental retirement plans after reclassifications — 24 — 82 Tax effect — (24) — (24) Change in unfunded status of the supplemental retirement plans, net of tax — — — 58 Change in joint beneficiary agreement liability before reclassifications, net of tax — — — — Total other comprehensive income (loss) $ (11,915) $ (68,611) $ 12,529 $ (146,950) The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows: (in thousands) June 30, December 31, Net unrealized gain on available for sale securities $ (272,761) $ (290,549) Tax effect 80,638 85,897 Unrealized holding gain on available for sale securities, net of tax (192,123) (204,652) Unfunded status of the supplemental retirement plans 13,901 13,901 Tax effect (4,110) (4,110) Unfunded status of the supplemental retirement plans, net of tax 9,791 9,791 Joint beneficiary agreement liability 956 956 Tax effect — — Joint beneficiary agreement liability, net of tax 956 956 Accumulated other comprehensive loss $ (181,376) $ (193,905) |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Fair Value Measurement The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, income approach, and/or the cost approach. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of nonperformance. Marketable equity securities, debt securities available-for-sale, loans held for sale, and mortgage servicing rights are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application impairment write-downs of individual assets. The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observable nature of the assumptions used to determine fair value. These levels are: Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 - Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Marketable equity securities and debt securities available for sale - Marketable equity securities and debt securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. The Company had no securities classified as Level 3 during any of the periods covered in these financial statements. Loans held for sale - Loans held for sale are carried at the lower of cost or fair value. The fair value of loans held for sale is based on what secondary markets are currently offering for loans with similar characteristics. As such, we classify those loans subjected to recurring fair value adjustments as Level 2. Individually evaluated loans - Loans are not recorded at fair value on a recurring basis. However, from time to time, certain loans have individual risk characteristics not consistent with a pool of loans and is individually evaluated for credit reserves. Loans for which it is probable that payment of interest and principal will not be made in accordance with the original contractual terms of the loan agreement are typically individually evaluated. The fair value of these loans are estimated using one of several methods, including collateral value, fair value of similar debt, enterprise value, liquidation value and discounted cash flows. Those loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. Loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the loan as nonrecurring Level 3. Foreclosed assets - Foreclosed assets include assets acquired through, or in lieu of, loan foreclosure. Foreclosed assets are held for sale and are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, management periodically performs valuations and the assets are carried at the lower of carrying amount or fair value less cost to sell. When the fair value of foreclosed assets is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the foreclosed asset as nonrecurring Level 3. Revenue and expenses from operations and changes in the valuation allowance are included in other non-interest expense. Mortgage servicing rights - Mortgage servicing rights are carried at fair value. A valuation model, which utilizes a discounted cash flow analysis using a discount rate and prepayment speed assumptions is used in the computation of the fair value measurement. While the prepayment speed assumption is currently quoted for comparable instruments, the discount rate assumption currently requires a significant degree of management judgment and is therefore considered an unobservable input. As such, the Company classifies mortgage servicing rights subjected to recurring fair value adjustments as Level 3. The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands): Fair value at June 30, 2023 Total Level 1 Level 2 Level 3 Marketable equity securities $ 2,598 $ 2,598 Debt securities available for sale: Obligations of U.S. government corporations and agencies 1,309,424 1,309,424 Obligations of states and political subdivisions 275,651 275,651 Corporate bonds 5,501 5,501 Asset backed securities 453,467 453,467 Non-agency mortgage backed securities 276,370 276,370 Loans held for sale 1,058 1,058 Mortgage servicing rights 6,741 6,741 Total assets measured at fair value $ 2,330,810 $ 2,598 $ 2,321,471 $ 6,741 Fair value at December 31, 2022 Total Level 1 Level 2 Level 3 Marketable equity securities $ 2,598 $ 2,598 $ — $ — Debt securities available for sale: Obligations of U.S. government corporations and agencies 1,372,769 — 1,372,769 — Obligations of states and political subdivisions 293,205 — 293,205 — Corporate bonds 5,751 — 5,751 — Asset backed securities 439,767 — 439,767 — Non-agency mortgage backed securities 340,946 340,946 Loans held for sale 1,846 — 1,846 — Mortgage servicing rights 6,712 — — 6,712 Total assets measured at fair value $ 2,463,594 $ 2,598 $ 2,454,284 $ 6,712 Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally corresponds with the Company’s quarterly valuation process. There were no transfers between any levels during the six months ended June 30, 2023 or the year ended December 31, 2022. The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands): Three months ended June 30, Beginning Transfers Change Issuances Ending 2023: Mortgage servicing rights $ 6,553 $ 84 $ 104 $ 6,741 2022: Mortgage servicing rights $ 6,405 — $ 136 $ 126 $ 6,667 Six months ended June 30, The key unobservable inputs used in determining the fair value of mortgage servicing rights are mortgage prepayment speeds and the discount rate used to discount cash projected cash flows. Generally, any significant increases in the mortgage prepayment speed and discount rate utilized in the fair value measurement of the mortgage servicing rights will result in a negative fair value adjustments (and decrease in the fair value measurement). Conversely, a decrease in the mortgage prepayment speed and discount rate will result in a positive fair value adjustment (and increase in the fair value measurement). The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2023 and December 31, 2022: As of June 30, 2023: Fair Value Valuation Unobservable Range, Mortgage Servicing Rights $ 6,741 Discounted cash flow Constant prepayment rate 6% - 12%; 7.8% Discount rate 10% - 14%; 12% As of December 31, 2022: Mortgage Servicing Rights $ 6,712 Discounted cash flow Constant prepayment rate 7% - 13.6%; 7.6% Discount rate 10% - 14%; 12% The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated, that had a write-down or an additional allowance provided during the periods indicated (in thousands): June 30, 2023 Total Level 1 Level 2 Level 3 Fair value: Individually evaluated loans $ 3,730 — — $ 3,730 Foreclosed assets 1,449 — — 1,449 Total assets measured at fair value $ 5,179 $ — $ — $ 5,179 December 31, 2022 Total Level 1 Level 2 Level 3 Fair value: Individually evaluated loans $ 5,719 — — $ 5,719 Foreclosed assets 311 — — 311 Total assets measured at fair value $ 6,030 — — $ 6,030 The tables below present the losses resulting from non-recurring fair value adjustments of assets and liabilities for the periods indicated (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Individually evaluated loans $ (6,754) $ — $ (7,031) $ (615) Foreclosed assets (525) (98) (525) (392) Total losses from non-recurring measurements $ (7,279) $ (98) $ (7,556) $ (1,007) The individually evaluated loan amounts above represent collateral dependent loans that have been adjusted to fair value. When the Company identifies a collateral dependent loan with unique risk characteristics, the Company evaluates the need for an allowance using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals. If the Company determines that the value of the loan is less than the recorded investment in the loan, the Company recognizes this impairment and adjust the carrying value of the loan to fair value through the allowance for credit losses. The loss represents charge-offs or impairments on collateral dependent loans for fair value adjustments based on the fair value of collateral. The carrying value of loans fully charged-off is zero. The foreclosed assets amount above represents impaired real estate that has been adjusted to fair value. Foreclosed assets represent real estate which the Company has taken control of in partial or full satisfaction of loans. At the time of foreclosure, other real estate owned is recorded at fair value less costs to sell, which becomes the property’s new basis. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for credit losses. After foreclosure, management periodically performs valuations such that the real estate is carried at the lower of its new cost basis or fair value, net of estimated costs to sell. Fair value adjustments on other real estate owned are recognized within net loss on real estate owned. The loss represents impairments on real estate owned for fair value adjustments based on the fair value of the real estate. The Company’s property appraisals are primarily based on the sales comparison approach and income approach methodologies, which consider recent sales of comparable properties, including their income generating characteristics, and then make adjustments to reflect the general assumptions that a market participant would make when analyzing the property for purchase. These adjustments may increase or decrease an appraised value and can vary significantly depending on the location, physical characteristics and income producing potential of each property. Additionally, the quality and volume of market information available at the time of the appraisal can vary from period to period and cause significant changes to the nature and magnitude of comparable sale adjustments. Given these variations, comparable sale adjustments are generally not a reliable indicator for how fair value will increase or decrease from period to period. Under certain circumstances, management discounts are applied based on specific characteristics of an individual property. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2023: June 30, 2023 Fair Value Valuation Unobservable Inputs Range, Individually evaluated loans $ 3,730 Sales comparison Adjustment for differences between Not meaningful Foreclosed assets (Residential real estate) $ 1,449 Sales comparison Adjustment for differences between Not meaningful The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2022: December 31, 2022 Fair Value Valuation Unobservable Inputs Range, Individually evaluated loans $ 5,719 Sales comparison Adjustment for differences between Not meaningful Foreclosed assets (Residential real estate) $ 311 Sales comparison Adjustment for differences between Not meaningful Fair values for financial instruments are management’s estimates of the values at which the instruments could be exchanged in a transaction between willing parties. The Company uses the exit price notion when measuring the fair value of financial instruments. These estimates are subjective and may vary significantly from amounts that would be realized in actual transactions. In addition, other significant assets are not considered financial assets including, any mortgage banking operations, deferred tax assets, and premises and equipment. Further, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on the fair value estimates and have not been considered in any of these estimates. June 30, 2023 December 31, 2022 (in thousands) Carrying Fair Carrying Fair Financial assets: Level 1 inputs: Cash and due from banks $ 93,485 $ 93,485 $ 96,323 $ 96,323 Cash at Federal Reserve and other banks 25,307 25,307 10,907 10,907 Level 2 inputs: Securities held to maturity 145,117 134,409 160,983 149,938 Restricted equity securities 17,250 N/A 17,250 N/A Level 3 inputs: Loans, net 6,403,411 6,103,731 6,344,767 6,153,155 Financial liabilities: Level 2 inputs: Deposits 8,095,365 8,087,270 8,329,013 8,321,517 Other borrowings 392,714 392,714 264,605 264,605 Level 3 inputs: Junior subordinated debt 101,065 94,425 101,040 92,613 (in thousands) Contract Fair Contract Fair Off-balance sheet: Level 3 inputs: Commitments $ 2,325,109 $ 23,251 $ 2,188,560 $ 21,886 Standby letters of credit 26,916 269 26,599 266 Overdraft privilege commitments 125,067 1,250 126,634 1,266 |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Jun. 30, 2023 | |
Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge [Abstract] | |
Regulatory Matters | Regulatory Matters The Company is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1, and common equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. The following tables present actual and required capital ratios as of June 30, 2023 and December 31, 2022 for the Company and the Bank under applicable Basel III Capital Rules. The minimum capital amounts presented include the minimum required capital levels as of June 30, 2023 and December 31, 2022 based on the then phased-in provisions of the Basel III Capital Rules. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. Actual Required for Capital Adequacy Purposes Required to be As of June 30, 2023: Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets): Consolidated $ 1,152,530 14.47 % $ 836,038 10.50 % N/A N/A Tri Counties Bank $ 1,147,002 14.41 % $ 835,843 10.50 % $ 796,041 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 1,010,295 12.69 % $ 676,793 8.50 % N/A N/A Tri Counties Bank $ 1,047,217 13.16 % $ 676,635 8.50 % $ 636,833 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 953,407 11.97 % $ 557,359 7.00 % N/A N/A Tri Counties Bank $ 1,047,217 13.16 % $ 557,229 7.00 % $ 517,427 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 1,010,295 10.41 % $ 388,260 4.00 % N/A N/A Tri Counties Bank $ 1,047,217 10.79 % $ 388,217 4.00 % $ 485,271 5.00 % Actual Required for Capital Adequacy Purposes Required to be As of December 31, 2022: Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets): Consolidated $ 1,115,257 14.19 % $ 825,234 10.50 % N/A N/A Tri Counties Bank $ 1,107,941 14.10 % $ 825,039 10.50 % $ 785,751 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 974,325 12.40 % $ 668,047 8.50 % N/A N/A Tri Counties Bank $ 1,009,577 12.85 % $ 667,888 8.50 % $ 628,601 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 917,565 11.67 % $ 550,156 7.00 % N/A N/A Tri Counties Bank $ 1,009,577 12.85 % $ 550,026 7.00 % $ 510,738 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 974,325 10.14 % $ 384,337 4.00 % N/A N/A Tri Counties Bank $ 1,009,577 10.51 % $ 384,146 4.00 % $ 480,183 5.00 % As of June 30, 2023 and December 31, 2022, capital levels at the Company and the Bank exceed all capital adequacy requirements under the Basel III Capital Rules. Also, at June 30, 2023 and December 31, 2022, the Bank’s capital levels exceeded the minimum amounts necessary to be considered well capitalized under the current regulatory framework for prompt corrective action. The Basel III Capital Rules require for all banking organizations to maintain a capital conservation buffer above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer is exclusively composed of common equity tier 1 capital, and it applies to each of the risk-based capital ratios but not the leverage ratio. At June 30, 2023, the Company and the Bank are in compliance with the capital conservation buffer requirement. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Pay vs Performance Disclosure | ||||
Net income | $ 24,892 | $ 31,364 | $ 60,725 | $ 51,738 |
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 | |
Accounting Policies [Abstract] | |
Description of Business and Basis of Presentation | Description of Business and Basis of Presentation TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 33 California counties. The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation. The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1.76 million are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheets. See the footnote 'Junior Subordinated Debt' for additional information on borrowings outstanding. |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading. |
Segment and Significant Group Concentration of Credit Risk | Segment and Significant Group Concentration of Credit Risk The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking. |
Geographical Descriptions | Geographical Descriptions For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo. |
Reclassification | Reclassification Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’ equity. |
Cash and Cash Equivalents | Cash and Cash Equivalents Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents. |
Allowance for Credit Losses - Securities | Allowance for Credit Losses - Securities The Company measures expected credit losses on HTM debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on HTM debt securities was considered insignificant at June 30, 2023 and is therefore excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption. |
Loans | Loans Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses. |
Allowance for Credit Losses - Loans | Allowance for Credit Losses - Loans The ACL is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged-off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate. Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels, changes in corporate debt yields, and U.S. gross domestic product. PCD assets are assets acquired at a discount that is due, in part, to credit quality deterioration since origination. PCD assets are accounted for in accordance with ASC 326-20 and are initially recorded at fair value, by taking the sum of the present value of expected future cash flows and an allowance for credit losses, at acquisition. The allowance for credit losses for PCD assets is recorded through a gross-up of reserves on the balance sheet, while the allowance for acquired non-PCD assets, such as loans, is recorded through the provision for credit losses on the income statement, consistent with originated loans. Subsequent to acquisition, the allowance for credit losses for PCD loans will generally follow the same forward-looking estimation, provision, and charge-off process as non-PCD acquired and originated loans. The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss: Commercial real estate : Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five fifteen Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five fifteen Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss. Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment. Consumer loans : SFR 1-4 1st DT Liens: The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate. SFR HELOCs and Junior Liens: Similar to residential real estate term loans, HELOCs and junior liens performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC. Other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate. Commercial and Industrial: Repayment of these loans is primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits. Construction : While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors. Agriculture Production: Repayment of agricultural loans is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural production loans may involve a greater degree of risk than other types of loans. Leases: The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above. Unfunded commitments : The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the consolidated balance sheet in other liabilities. |
Accounting Standards Recently Issued or Adopted | Accounting Standards Recently Issued or Adopted FASB issued ASU 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. This ASU permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The adoption of this accounting guidance is not expected to have a material impact on the Company’s consolidated financial statements. |
Business Combinations (Tables)
Business Combinations (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of Fair Value of Consideration Transferred, Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid for VRB and the amounts of assets acquired and liabilities assumed that were recorded at the acquisition date (in thousands): Fair Value as of Fair value of consideration transferred: Fair value of shares issued $ 173,585 Cash consideration 431 Total fair value of consideration transferred 174,016 Assets acquired: Cash and cash equivalents 427,314 Securities available for sale 109,716 Loans and leases 771,353 Premises and equipment 4,658 Cash value of life insurance 13,609 Core deposit intangible 10,635 Other assets 29,744 Total assets acquired 1,367,029 Liabilities assumed: Deposits (1,215,479) Subordinated debt (47,236) SERP liability (3,352) Other liabilities (10,516) Total liabilities assumed (1,276,583) Total net assets acquired 90,446 Goodwill recognized $ 83,570 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Values of Investments Securities | The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables: June 30, 2023 (in thousands) Amortized Gross Gross Allowance for Credit Losses Estimated Debt Securities Available for Sale Obligations of U.S. government agencies $ 1,497,396 $ — $ (187,972) $ — $ 1,309,424 Obligations of states and political subdivisions 307,961 377 (32,687) — 275,651 Corporate bonds 6,168 — (667) — 5,501 Asset backed securities 464,331 46 (10,910) — 453,467 Non-agency collateralized mortgage obligations 317,319 — (40,949) — 276,370 Total debt securities available for sale $ 2,593,175 $ 423 $ (273,185) $ — $ 2,320,413 Debt Securities Held to Maturity Obligations of U.S. government agencies $ 142,466 $ 1 $ (10,664) — 131,803 Obligations of states and political subdivisions 2,651 1 (46) — 2,606 Total debt securities held to maturity $ 145,117 $ 2 $ (10,710) $ — $ 134,409 December 31, 2022 (in thousands) Amortized Gross Gross Allowance for Credit Losses Estimated Debt Securities Available for Sale Obligations of U.S. government agencies $ 1,568,408 $ 3 $ (195,642) $ — $ 1,372,769 Obligations of states and political subdivisions 332,625 401 (39,821) — 293,205 Corporate bonds 6,164 — (413) — 5,751 Asset backed securities 454,943 17 (15,193) — 439,767 Non-agency collateralized mortgage obligations 380,847 — (39,901) — 340,946 Total debt securities available for sale $ 2,742,987 $ 421 $ (290,970) $ — $ 2,452,438 Debt Securities Held to Maturity Obligations of U.S. government agencies $ 154,830 $ 2 $ (11,013) $ — $ 143,819 Obligations of states and political subdivisions 6,153 13 (47) — 6,119 Total debt securities held to maturity $ 160,983 $ 15 $ (11,060) $ — $ 149,938 |
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity | As of June 30, 2023, the contractual final maturity for available for sale and held to maturity investment securities is as follows: Debt Securities Available for Sale Held to Maturity (in thousands) Amortized Estimated Amortized Estimated Due in one year $ 91,262 $ 88,777 $ — $ — Due after one year through five years 75,911 72,601 6,790 6,485 Due after five years through ten years 406,088 385,442 30,471 27,882 Due after ten years 2,019,914 1,773,593 107,856 100,042 Totals $ 2,593,175 $ 2,320,413 $ 145,117 $ 134,409 |
Gross Unrealized Losses on Investment Securities | Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: June 30, 2023: Less than 12 months 12 months or more Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Debt Securities Available for Sale Obligations of U.S. government agencies $ 148,377 $ (9,454) $ 1,160,872 $ (178,518) $ 1,309,249 $ (187,972) Obligations of states and political subdivisions 42,997 (958) 204,574 (31,729) 247,571 (32,687) Corporate bonds — — 5,501 (667) 5,501 (667) Asset backed securities 88,449 (1,240) 359,902 (9,670) 448,351 (10,910) Non-agency collateralized mortgage obligations 61,766 (2,173) 214,604 (38,776) 276,370 (40,949) Total debt securities available for sale $ 341,589 $ (13,825) $ 1,945,453 $ (259,360) $ 2,287,042 $ (273,185) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 39,059 $ (2,530) $ 92,743 $ (8,134) $ 131,802 $ (10,664) Obligations of states and political subdivisions 973 (22) 546 (24) 1,519 (46) Total debt securities held to maturity $ 40,032 $ (2,552) $ 93,289 $ (8,158) $ 133,321 $ (10,710) December 31, 2022: Less than 12 months 12 months or more Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Debt Securities Available for Sale Obligations of U.S. government agencies $ 605,615 $ (61,408) $ 766,612 $ (134,234) $ 1,372,227 $ (195,642) Obligations of states and political subdivisions 219,532 (26,904) 43,282 (12,917) 262,814 (39,821) Corporate bonds 5,751 (413) — — 5,751 (413) Asset backed securities 231,703 (4,955) 205,329 (10,238) 437,032 (15,193) Non-agency collateralized mortgage obligations 123,075 (3,421) 203,620 (36,480) 326,695 (39,901) Total debt securities available for sale $ 1,185,676 (97,101) $ 1,218,843 $ (193,869) $ 2,404,519 $ (290,970) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 143,577 $ (11,013) $ — $ — $ 143,577 $ (11,013) Obligations of states and political subdivisions 4,530 (47) — — 4,530 (47) Total debt securities held to maturity $ 148,107 $ (11,060) $ — $ — $ 148,107 $ (11,060) |
Amortized Cost of Debt Securities Held-to-Maturity | The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator: June 30, 2023 December 31, 2022 (in thousands) AAA/AA/A BBB/BB/B AAA/AA/A BBB/BB/B Obligations of U.S. government agencies $ 142,466 $ — $ 154,830 $ — Obligations of states and political subdivisions 2,651 — 6,153 — Total debt securities held to maturity $ 145,117 $ — $ 160,983 $ — |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Receivables [Abstract] | |
Schedule of Loan Balances | A summary of loan balances at amortized cost are as follows: (in thousands) June 30, 2023 December 31, 2022 Commercial real estate: CRE non-owner occupied $ 2,143,146 $ 2,149,725 CRE owner occupied 972,361 984,807 Multifamily 951,590 944,537 Farmland 276,827 280,014 Total commercial real estate loans 4,343,924 4,359,083 Consumer: SFR 1-4 1st DT liens 829,346 790,349 SFR HELOCs and junior liens 363,600 393,666 Other 59,279 56,728 Total consumer loans 1,252,225 1,240,743 Commercial and industrial 576,247 569,921 Construction 278,425 211,560 Agriculture production 61,337 61,414 Leases 8,582 7,726 Total loans, net of deferred loan fees and discounts $ 6,520,740 $ 6,450,447 Total principal balance of loans owed, net of charge-offs $ 6,565,576 $ 6,496,210 Unamortized net deferred loan fees (17,182) (15,275) Discounts to principal balance of loans owed, net of charge-offs (27,654) (30,488) Total loans, net of unamortized deferred loan fees and discounts $ 6,520,740 $ 6,450,447 Allowance for credit losses on loans $ (117,329) $ (105,680) |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Allowance For Loan And Lease Losses [Abstract] | |
Summary of Activity in Allowance for Loan Losses, and Ending Balance of Loans, Net of Unearned Fees for Periods Indicated | For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities: Allowance for credit losses – Three months ended June 30, 2023 (in thousands) Beginning Charge-offs Recoveries Provision (benefit) Ending Commercial real estate: CRE non-owner occupied $ 32,963 $ — $ — $ 79 $ 33,042 CRE owner occupied 14,559 — 1 5,648 20,208 Multifamily 13,873 — — 202 14,075 Farmland 3,542 — — 149 3,691 Total commercial real estate loans 64,937 — 1 6,078 71,016 Consumer: SFR 1-4 1st DT liens 11,920 — — 1,214 13,134 SFR HELOCs and junior liens 10,914 — 37 (343) 10,608 Other 2,062 (163) 26 846 2,771 Total consumer loans 24,896 (163) 63 1,717 26,513 Commercial and industrial 12,069 (113) 123 (432) 11,647 Construction 5,655 — — 1,376 7,031 Agriculture production 833 — 31 241 1,105 Leases 17 — — — 17 Allowance for credit losses on loans 108,407 (276) 218 8,980 117,329 Reserve for unfunded commitments 4,195 — — 670 4,865 Total $ 112,602 $ (276) $ 218 $ 9,650 $ 122,194 Allowance for credit losses – Six months ended June 30, 2023 (in thousands) Beginning Charge-offs Recoveries Provision (benefit) Ending Commercial real estate: CRE non-owner occupied $ 30,962 $ — $ — $ 2,080 $ 33,042 CRE owner occupied 14,014 — 1 6,193 20,208 Multifamily 13,132 — — 943 14,075 Farmland 3,273 — — 418 3,691 Total commercial real estate loans 61,381 — 1 9,634 71,016 Consumer: SFR 1-4 1st DT liens 11,268 — — 1,866 13,134 SFR HELOCs and junior liens 11,413 (42) 102 (865) 10,608 Other 1,958 (305) 77 1,041 2,771 Total consumer loans 24,639 (347) 179 2,042 26,513 Commercial and industrial 13,597 (1,687) 176 (439) 11,647 Construction 5,142 — — 1,889 7,031 Agriculture production 906 — 32 167 1,105 Leases 15 — — 2 17 Allowance for credit losses on loans 105,680 (2,034) 388 13,295 117,329 Reserve for unfunded commitments 4,315 — — 550 4,865 Total $ 109,995 $ (2,034) $ 388 $ 13,845 $ 122,194 For the periods indicated, the following tables summarize the activity in the allowance for credit losses on loans which is recorded as a contra asset, and the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities: Allowance for credit losses – Year ended December 31, 2022 (in thousands) Beginning ACL of PCD Loans Charge-offs Recoveries Provision Ending Balance Commercial real estate: CRE non-owner occupied $ 25,739 $ 746 $ — $ 1 $ 4,476 $ 30,962 CRE owner occupied 10,691 63 — 2 3,258 14,014 Multifamily 12,395 — — — 737 13,132 Farmland 2,315 764 (294) — 488 3,273 Total commercial real estate loans 51,140 1,573 (294) 3 8,959 61,381 Consumer: SFR 1-4 1st DT liens 10,723 144 — 79 322 11,268 SFR HELOCs and junior liens 10,510 — (22) 429 496 11,413 Other 2,241 — (572) 235 54 1,958 Total consumer loans 23,474 144 (594) 743 872 24,639 Commercial and industrial 3,862 81 (697) 1,157 9,194 13,597 Construction 5,667 201 — — (726) 5,142 Agriculture production 1,215 38 — 4 (351) 906 Leases 18 — — — (3) 15 Allowance for credit losses on loans 85,376 2,037 (1,585) 1,907 17,945 105,680 Reserve for unfunded commitments 3,790 — — — 525 4,315 Total $ 89,166 $ 2,037 $ (1,585) $ 1,907 $ 18,470 $ 109,995 Allowance for credit losses – Three months ended June 30, 2022 (in thousands) Beginning ACL of PCD Loans Charge-offs Recoveries Provision (benefit) Ending Balance Commercial real estate: CRE non-owner occupied $ 28,055 $ — $ — $ 26 $ 28,081 CRE owner occupied 12,071 — 1 548 12,620 Multifamily 11,987 — — (192) 11,795 Farmland 2,879 — — 75 2,954 Total commercial real estate loans 54,992 — — 1 457 55,450 Consumer: SFR 1-4 1st DT liens 10,669 — 1 (359) 10,311 SFR HELOCs and junior liens 10,843 — 153 595 11,591 Other 2,167 (166) 76 (48) 2,029 Total consumer loans 23,679 — (166) 230 188 23,931 Commercial and industrial 9,042 (235) 124 1,048 9,979 Construction 7,437 — — 85 7,522 Agriculture production 883 — 1 162 1,046 Leases 16 — — — 16 Allowance for credit losses on loans 96,049 — (401) 356 1,940 97,944 Reserve for unfunded commitments 3,915 — — 160 4,075 Total $ 99,964 $ — $ (401) $ 356 $ 2,100 $ 102,019 |
Summary of Loans and Leases Purchased and Acquired with Credit Deterioration | The following table provides a summary of loans and leases purchased as part of the VRB acquisition with credit deterioration at acquisition: As of March 25, 2022 (in thousands) Commercial Real Estate Consumer Commercial and Industrial Construction Agriculture Production Total Par value $ 27,237 $ 3,877 $ 2,674 $ 25,645 $ 9,080 $ 68,513 ACL at acquisition (1,573) (144) (81) (201) (38) (2,037) Non-credit discount (2,305) (360) (47) (232) (12) (2,956) Purchase price $ 23,359 $ 3,373 $ 2,546 $ 25,212 $ 9,030 $ 63,520 |
Summary of Credit Quality Indicators | Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated: Term Loans Amortized Cost Basis by Origination Year – As of June 30, 2023 (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: CRE non-owner occupied risk ratings Pass $ 74,480 $ 411,202 $ 287,950 $ 139,902 $ 224,859 $ 833,291 $ 104,382 $ — $ 2,076,066 Special Mention — — 7,422 5,450 17,579 27,217 1,347 — 59,015 Substandard — — 791 — 2,392 4,670 212 — 8,065 Doubtful/Loss — — — — — — — — — Total $ 74,480 $ 411,202 $ 296,163 $ 145,352 $ 244,830 $ 865,178 $ 105,941 $ — $ 2,143,146 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate: CRE owner occupied risk ratings Pass $ 43,483 $ 191,817 $ 193,284 $ 122,066 $ 61,481 $ 284,127 $ 29,719 $ — $ 925,977 Special Mention 73 845 14,981 3,040 717 6,386 — — 26,042 Substandard — 3,072 1,176 5,185 112 10,644 153 — 20,342 Doubtful/Loss — — — — — — — — — Total $ 43,556 $ 195,734 $ 209,441 $ 130,291 $ 62,310 $ 301,157 $ 29,872 $ — $ 972,361 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Term Loans Amortized Cost Basis by Origination Year – As of June 30, 2023 (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: Multifamily risk ratings Pass $ 7,578 $ 179,229 $ 280,895 $ 90,198 $ 107,518 $ 236,312 $ 37,843 $ — $ 939,573 Special Mention — — 11,908 — — — — — 11,908 Substandard — — — — — 109 — — 109 Doubtful/Loss — — — — — — — — — Total $ 7,578 $ 179,229 $ 292,803 $ 90,198 $ 107,518 $ 236,421 $ 37,843 $ — $ 951,590 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate: Farmland risk ratings Pass $ 14,477 $ 46,947 $ 46,891 $ 16,295 $ 17,340 $ 44,959 $ 54,290 $ — $ 241,199 Special Mention — 3,119 4,986 326 5,234 4,834 736 — 19,235 Substandard — — 790 365 — 10,458 4,780 — 16,393 Doubtful/Loss — — — — — — — — — Total $ 14,477 $ 50,066 $ 52,667 $ 16,986 $ 22,574 $ 60,251 $ 59,806 $ — $ 276,827 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer loans: SFR 1-4 1st DT liens risk ratings Pass $ 52,682 $ 191,299 $ 269,009 $ 126,461 $ 31,577 $ 138,088 $ — $ 3,542 $ 812,658 Special Mention — 1,073 — 3,214 815 6,810 — 34 11,946 Substandard — 155 1,332 — — 2,500 — 755 4,742 Doubtful/Loss — — — — — — — — — Total $ 52,682 $ 192,527 $ 270,341 $ 129,675 $ 32,392 $ 147,398 $ — $ 4,331 $ 829,346 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer loans: SFR HELOCs and Junior Liens Pass $ 307 $ — $ — $ — $ — $ 110 $ 350,621 $ 7,487 $ 358,525 Special Mention — — — — — — 959 137 1,096 Substandard — — — — — — 3,461 518 3,979 Doubtful/Loss — — — — — — — — — Total $ 307 $ — $ — $ — $ — $ 110 $ 355,041 $ 8,142 $ 363,600 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer loans: Other risk ratings Pass $ 13,725 $ 10,649 $ 10,641 $ 8,747 $ 8,510 $ 5,716 $ 654 $ — $ 58,642 Special Mention — — 99 17 60 82 18 — 276 Substandard 90 42 60 30 74 44 21 — 361 Doubtful/Loss — — — — — — — — — Total $ 13,815 $ 10,691 $ 10,800 $ 8,794 $ 8,644 $ 5,842 $ 693 $ — $ 59,279 Current period gross charge-offs $ 72 $ 48 $ — $ 36 $ — $ 2 $ 5 $ — $ 163 Term Loans Amortized Cost Basis by Origination Year – As of June 30, 2023 (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial and industrial loans: Commercial and industrial risk ratings Pass $ 40,481 $ 94,564 $ 61,113 $ 12,857 $ 17,544 $ 9,489 $ 319,172 $ 308 $ 555,528 Special Mention 658 2,999 238 64 26 970 7,116 401 12,472 Substandard — 1,245 1,703 3,029 19 271 1,881 99 8,247 Doubtful/Loss — — — — — — — — — Total $ 41,139 $ 98,808 $ 63,054 $ 15,950 $ 17,589 $ 10,730 $ 328,169 $ 808 $ 576,247 Current period gross charge-offs $ 63 $ — $ — $ — $ — $ — $ 50 $ — $ 113 Construction loans: Construction risk ratings Pass $ 19,561 $ 126,026 $ 66,947 $ 47,431 $ 4,822 $ 6,572 $ — $ — $ 271,359 Special Mention — 6,993 — — — — — — 6,993 Substandard — — — — 73 — — — 73 Doubtful/Loss — — — — — — — — — Total $ 19,561 $ 133,019 $ 66,947 $ 47,431 $ 4,895 $ 6,572 $ — $ — $ 278,425 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Agriculture production loans: Agriculture production risk ratings Pass $ 249 $ 3,154 $ 2,407 $ 882 $ 875 $ 8,611 $ 35,606 $ — $ 51,784 Special Mention — — — — — 296 6,399 — 6,695 Substandard — — — — — — 2,858 — 2,858 Doubtful/Loss — — — — — — — — — Total $ 249 $ 3,154 $ 2,407 $ 882 $ 875 $ 8,907 $ 44,863 $ — $ 61,337 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Leases: Lease risk ratings Pass $ 8,582 $ — $ — $ — $ — $ — $ — $ — $8,582 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful/Loss — — — — — — — — — Total $ 8,582 $ — $ — $ — $ — $ — $ — $ — $ 8,582 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total loans outstanding: Risk ratings Pass $ 275,605 $ 1,254,887 $ 1,219,137 $ 564,839 $ 474,526 $ 1,567,275 $ 932,287 $ 11,337 $ 6,299,893 Special Mention 731 15,029 39,634 12,111 24,431 46,595 16,575 572 155,678 Substandard 90 4,514 5,852 8,609 2,670 28,696 13,366 1,372 65,169 Doubtful/Loss — — — — — — — — — Total $ 276,426 $ 1,274,430 $ 1,264,623 $ 585,559 $ 501,627 $ 1,642,566 $ 962,228 $ 13,281 $ 6,520,740 Current period gross charge-offs $ 135 $ 48 $ — $ 36 $ — $ 2 $ 55 $ — $ 276 Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022 (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: CRE non-owner occupied risk ratings Pass $ 399,910 $ 304,636 $ 152,960 $ 221,659 $ 147,842 $ 748,994 $ 123,794 $ — $ 2,099,795 Special Mention — — — 20,033 — 21,681 1,346 — 43,060 Substandard — 864 768 — 1,059 4,179 — — 6,870 Doubtful/Loss — — — — — — — — — Total $ 399,910 $ 305,500 $ 153,728 $ 241,692 $ 148,901 $ 774,854 $ 125,140 $ — $ 2,149,725 Commercial real estate: CRE owner occupied risk ratings Pass $ 210,101 $ 197,787 $ 120,929 $ 64,244 $ 49,755 $ 251,137 $ 43,343 $ — $ 937,296 Special Mention 131 16,296 234 731 — 6,971 879 — 25,242 Substandard 3,213 — 5,249 1,893 1,103 10,654 157 — 22,269 Doubtful/Loss — — — — — — — — — Total $ 213,445 $ 214,083 $ 126,412 $ 66,868 $ 50,858 $ 268,762 $ 44,379 $ — $ 984,807 Commercial real estate: Multifamily risk ratings Pass $ 159,318 $ 290,170 $ 96,937 $ 108,586 $ 106,287 $ 154,125 $ 28,989 $ — $ 944,412 Special Mention — — — — — — — — — Substandard — — — — — 125 — — 125 Doubtful/Loss — — — — — — — — — Total $ 159,318 $ 290,170 $ 96,937 $ 108,586 $ 106,287 $ 154,250 $ 28,989 $ — $ 944,537 Commercial real estate: Farmland risk ratings Pass $ 47,067 $ 53,275 $ 16,739 $ 18,589 $ 12,386 $ 34,528 $ 53,684 $ — $ 236,268 Special Mention 3,139 783 246 5,000 — 3,991 14,275 — 27,434 Substandard — — 1,772 765 3,158 7,094 3,523 — 16,312 Doubtful/Loss — — — — — — — — — Total $ 50,206 $ 54,058 $ 18,757 $ 24,354 $ 15,544 $ 45,613 $ 71,482 $ — $ 280,014 Consumer loans: SFR 1-4 1st DT liens risk ratings Pass $ 194,933 $ 265,370 $ 131,922 $ 33,395 $ 28,545 $ 115,469 $ 8 $ 2,924 $ 772,566 Special Mention — — 1,531 282 3,277 5,854 — 465 11,409 Substandard — 1,204 — — 1,004 3,521 — 645 6,374 Doubtful/Loss — — — — — — — — — Total $ 194,933 $ 266,574 $ 133,453 $ 33,677 $ 32,826 $ 124,844 $ 8 $ 4,034 $ 790,349 Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022 (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Consumer loans: SFR HELOCs and Junior Liens Pass $ 505 $ — $ — $ — $ — $ 127 $ 378,939 $ 8,462 $ 388,033 Special Mention — — — — — — 1,842 81 1,923 Substandard — — — — — — 3,072 638 3,710 Doubtful/Loss — — — — — — — — — Total $ 505 $ — $ — $ — $ — $ 127 $ 383,853 $ 9,181 $ 393,666 Consumer loans: Other risk ratings Pass $ 14,070 $ 12,990 $ 10,211 $ 10,650 $ 5,225 $ 1,945 $ 899 $ — $ 55,990 Special Mention — 18 77 135 176 32 47 — 485 Substandard — — 42 92 — 96 23 — 253 Doubtful/Loss — — — — — — — — — Total $ 14,070 $ 13,008 $ 10,330 $ 10,877 $ 5,401 $ 2,073 $ 969 $ — $ 56,728 Commercial and industrial loans: Commercial and industrial risk ratings Pass $ 125,710 $ 64,966 $ 17,746 $ 23,131 $ 7,628 $ 5,051 $ 297,341 $ 483 $ 542,056 Special Mention 3,032 139 21 49 138 768 11,547 — 15,694 Substandard 1,293 1,142 5,179 14 33 611 3,798 101 12,171 Doubtful/Loss — — — — — — — — — Total $ 130,035 $ 66,247 $ 22,946 $ 23,194 $ 7,799 $ 6,430 $ 312,686 $ 584 $ 569,921 Construction loans: Construction risk ratings Pass $ 72,840 $ 72,308 $ 43,409 $ 15,358 $ 2,159 $ 4,900 $ — $ — $ 210,974 Special Mention — — — — — — — — — Substandard — — — 457 — 129 — — 586 Doubtful/Loss — — — — — — — — — Total $ 72,840 $ 72,308 $ 43,409 $ 15,815 $ 2,159 $ 5,029 $ — $ — $ 211,560 Agriculture production loans: Agriculture production risk ratings Pass $ 3,414 $ 2,777 $ 1,149 $ 1,104 $ 8,902 $ 1,058 $ 38,425 $ — $ 56,829 Special Mention — — — — 90 31 1,632 — 1,753 Substandard — — — — — — 2,832 — 2,832 Doubtful/Loss — — — — — — — — — Total $ 3,414 $ 2,777 $ 1,149 $ 1,104 $ 8,992 $ 1,089 $ 42,889 $ — $ 61,414 Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2022 (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Leases: Lease risk ratings Pass $ 7,726 $ — $ — $ — $ — $ — $ — $ — $ 7,726 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful/Loss — — — — — — — — — Total $ 7,726 $ — $ — $ — $ — $ — $ — $ — $ 7,726 Total loans outstanding: Risk ratings Pass $ 1,235,594 $ 1,264,279 $ 592,002 $ 496,716 $ 368,729 $ 1,317,334 $ 965,422 $ 11,869 $ 6,251,945 Special Mention 6,302 17,236 2,109 26,230 3,681 39,328 31,568 546 127,000 Substandard 4,506 3,210 13,010 3,221 6,357 26,409 13,405 1,384 71,502 Doubtful/Loss — — — — — — — — — Total $ 1,246,402 $ 1,284,725 $ 607,121 $ 526,167 $ 378,767 $ 1,383,071 $ 1,010,395 $ 13,799 $ 6,450,447 |
Summary of Analysis of Past Due Loans | The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated: Analysis of Past Due Loans - As of June 30, 2023 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Commercial real estate: CRE non-owner occupied $ 304 $ — $ 347 $ 651 $ 2,142,495 $ 2,143,146 CRE owner occupied 191 — 250 441 971,920 972,361 Multifamily — — — — 951,590 951,590 Farmland 150 — 1,508 1,658 275,169 276,827 Total commercial real estate loans 645 — 2,105 2,750 4,341,174 4,343,924 Consumer: SFR 1-4 1st DT liens 1 106 1,484 1,591 827,755 829,346 SFR HELOCs and junior liens 1,918 391 327 2,636 360,964 363,600 Other 181 76 99 356 58,923 59,279 Total consumer loans 2,100 573 1,910 4,583 1,247,642 1,252,225 Commercial and industrial 158 160 1,399 1,717 574,530 576,247 Construction 400 — — 400 278,025 278,425 Agriculture production — — 33 33 61,304 61,337 Leases — — — — 8,582 8,582 Total $ 3,303 $ 733 $ 5,447 $ 9,483 $ 6,511,257 $ 6,520,740 Analysis of Past Due Loans - As of December 31, 2022 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Commercial real estate: CRE non-owner occupied $ — $ — $ — $ — $ 2,149,725 $ 2,149,725 CRE owner occupied — 98 75 173 984,634 984,807 Multifamily 159 — — 159 944,378 944,537 Farmland — — — — 280,014 280,014 Total commercial real estate loans 159 98 75 332 4,358,751 4,359,083 Consumer: SFR 1-4 1st DT liens 24 — 279 303 790,046 790,349 SFR HELOCs and junior liens 172 166 707 1,045 392,621 393,666 Other 26 34 55 115 56,613 56,728 Total consumer loans 222 200 1,041 1,463 1,239,280 1,240,743 Commercial and industrial 2,300 190 283 2,773 567,148 569,921 Construction — — 379 379 211,181 211,560 Agriculture production — — — — 61,414 61,414 Leases — — — — 7,726 7,726 Total $ 2,681 $ 488 $ 1,778 $ 4,947 $ 6,445,500 $ 6,450,447 |
Summary of Non Accrual Loans | The following table shows the ending balance of non accrual loans by loan category as of the date indicated: Non Accrual Loans As of June 30, 2023 As of December 31, 2022 (in thousands) Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Commercial real estate: CRE non-owner occupied $ 1,230 $ 1,230 $ — $ 1,739 $ 1,739 $ — CRE owner occupied 9,090 18,871 — 4,938 4,938 — Multifamily 110 110 — 125 125 — Farmland 2,594 2,230 — 1,772 1,772 — Total commercial real estate loans 13,024 22,441 — 8,574 8,574 — Consumer: SFR 1-4 1st DT liens 3,082 3,393 — 4,117 4,220 — SFR HELOCs and junior liens 3,182 3,489 — 2,498 3,155 — Other 90 129 — 47 84 — Total consumer loans 6,354 7,011 — 6,662 7,459 — Commercial and industrial 6,371 7,504 32 1,224 3,518 — Construction 73 73 — 491 491 — Agriculture production 563 563 — 1,279 1,279 — Leases — — — — — — Sub-total 26,385 37,592 32 18,230 21,321 — Less: Guaranteed loans (798) (964) — (105) (225) Total, net $ 25,587 $ 36,628 $ 32 $ 18,125 $ 21,096 $ — |
Summary of Amortized Cost Basis of Collateral Dependent Loans, By Class of Loan | The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods: As of June 30, 2023 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR-1st Deed SFR-2nd Deed Automobile/Truck A/R and Inventory Equipment Total Commercial real estate: CRE non-owner occupied $ 136 $ 304 $ — $ 791 $ — $ — $ — $ — $ — $ — $ — $ 1,231 CRE owner occupied 505 75 — 18,291 — — — — — — — 18,871 Multifamily — — — — 109 — — — — — — 109 Farmland — — — — — 2,594 — — — — — 2,594 Total commercial real estate loans 641 379 — 19,082 109 2,594 — — — — — 22,805 Consumer: SFR 1-4 1st DT liens — — — — — — 3,394 — — — — 3,394 SFR HELOCs and junior liens — — — — — — 1,958 1,224 — — — 3,182 Other — — — 3 — — — — 91 — 26 120 Total consumer loans — — — 3 — — 5,352 1,224 91 — 26 6,696 Commercial and industrial — — — — — — — — — 6,651 853 7,504 Construction — — — — — — 73 — — — — 73 Agriculture production — — — — — — — — — — 563 563 Leases — — — — — — — — — — — — Total $ 641 $ 379 $ — $ 19,085 $ 109 $ 2,594 $ 5,425 $ 1,224 $ 91 $ 6,651 $ 1,442 $ 37,641 As of December 31, 2022 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR -1st Deed SFR -2nd Deed Automobile/Truck A/R and Inventory Equipment Total Commercial real estate: CRE non-owner occupied $ 777 $ 98 $ — $ 864 $ — $ — $ — $ — $ — $ — $ — $ 1,739 CRE owner occupied 548 75 1,103 3,212 — — — — — — — 4,938 Multifamily — — — — 125 — — — — — — 125 Farmland — — — — — 1,772 — — — — — 1,772 Total commercial real estate loans 1,325 173 1,103 4,076 125 1,772 — — — — — 8,574 Consumer: SFR 1-4 1st DT liens — — — — — — 4,220 — — — — 4,220 SFR HELOCs and junior liens — — — — — — 1,664 1,121 — — — 2,785 Other — — — 5 — — — — 61 — 2 68 Total consumer loans — — — 5 — — 5,884 1,121 61 — 2 7,073 Commercial and industrial — — — 1,874 — — — — — 1,596 48 3,518 Construction — — — 379 — — 112 — — — — 491 Agriculture production — — — — — — — — — — 1,279 1,279 Leases — — — — — — — — — — — — Total $ 1,325 $ 173 $ 1,103 $ 6,334 $ 125 $ 1,772 $ 5,996 $ 1,121 $ 61 $ 1,596 $ 1,329 $ 20,935 The following tables show the amortized cost basis of loans that were both experiencing financial difficulty and modified during the periods presented. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivables is also presented below. For the three and six months ended June 30, 2023 (in thousands) Payment Delay/Term Extension Total % of Loans Outstanding Commercial real estate: CRE non-owner occupied $ — — % CRE owner occupied — — Multifamily — — Farmland — — Total commercial real estate loans — — Consumer: SFR 1-4 1st DT liens — — SFR HELOCs and junior liens — — Other — — Total consumer loans — — Commercial and industrial 177 0.03 Construction — — Agriculture production — — Leases — — Total $ 177 0.03 % The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2023. Weighted Average Months Term Extension Commercial and industrial 12 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Leases [Abstract] | |
Summary of Components of Lease Expense | The following table presents the components of lease expense for the periods ended: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Operating lease cost $ 1,493 $ 1,469 $ 3,102 $ 2,788 Short-term lease cost 118 80 236 133 Variable lease cost 9 7 21 9 Sublease income — — — — Total lease cost $ 1,620 $ 1,556 $ 3,359 $ 2,930 |
Summary of Supplemental Cash Flow Information Related to Leases | The following table presents supplemental cash flow information related to leases for the periods ended: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,611 $ 1,523 $ 3,264 $ 2,815 ROUA obtained in exchange for operating lease liabilities $ 370 $ — $ 4,855 $ 3,867 |
Summary of Weighted Average Operating Lease Term And Discount Rate | The following table presents the weighted average operating lease term and discount rate as of the period ended: June 30, 2023 2022 Weighted-average remaining lease term (years) 8.1 8.7 Weighted-average discount rate 3.29 % 2.91 % |
Summary of Future Expected Operating Lease Payments | At June 30, 2023, future expected operating lease payments are as follows: (in thousands) Periods ending December 31, 2023 $ 3,073 2024 5,879 2025 5,311 2026 4,770 2027 4,083 Thereafter 13,093 36,209 Discount for present value of expected cash flows (4,832) Lease liability at June 30, 2023 $ 31,377 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Deposits [Abstract] | |
Summary of Balances of Deposits | A summary of the balances of deposits follows: (in thousands) June 30, December 31, Noninterest-bearing demand $ 3,073,353 $ 3,502,095 Interest-bearing demand 1,752,086 1,718,541 Savings 2,778,118 2,884,378 Time certificates, $250,000 or more 125,244 46,350 Other time certificates 366,564 177,649 Total deposits $ 8,095,365 $ 8,329,013 |
Subordinated Debentures (Tables
Subordinated Debentures (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Summary of Terms and Recorded Balance of Subordinated Debenture | The following table summarizes the terms and recorded balances of each debenture as of the date indicated (dollars in thousands): Coupon Rate (Variable) 3 mo. LIBOR + As of June 30, 2023 As of December 31, 2022 Subordinated Debt Series Maturity Face Current Recorded Recorded TriCo Cap Trust I 10/7/2033 $ 20,619 3.05 % 8.31 % $ 20,619 $ 20,619 TriCo Cap Trust II 7/23/2034 20,619 2.55 % 7.82 % 20,619 20,619 North Valley Trust II 4/24/2033 6,186 3.25 % 8.55 % 5,551 5,503 North Valley Trust III 7/23/2034 5,155 2.80 % 8.07 % 4,426 4,383 North Valley Trust IV 3/15/2036 10,310 1.33 % 6.88 % 7,502 7,393 VRB Subordinated - 6% 3/29/2029 16,000 Fixed 6.00 % 17,093 17,187 VRB Subordinated - 5% 8/27/2035 20,000 Fixed 5.00 % 25,255 25,336 $ 98,889 $ 101,065 $ 101,040 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Bank's Commitments and Contingent Liabilities | The following table presents a summary of the Bank’s commitments and contingent liabilities: (in thousands) June 30, December 31, Financial instruments whose amounts represent risk: Commitments to extend credit: Commercial loans $ 764,278 $ 656,705 Consumer loans 701,542 760,588 Real estate mortgage loans 487,346 458,896 Real estate construction loans 371,943 312,371 Standby letters of credit 26,916 26,599 Deposit account overdraft privilege 125,067 126,634 |
Stock Options and Other Equit_2
Stock Options and Other Equity-Based Incentive Instruments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Summary of Stock Option Activity | Stock option activity during the six months ended June 30, 2023 is summarized in the following table: Number Weighted Outstanding at December 31, 2022 15,500 $ 21.27 Options granted — — Options exercised (8,000) 19.46 Options forfeited — — Outstanding at June 30, 2023 7,500 $ 23.21 |
Summary of Options Outstanding | The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of June 30, 2023: Currently Currently Not Total Number of options 7,500 — 7,500 Weighted average exercise price $ 23.21 $ — $ 23.21 Intrinsic value (in thousands) $ 75 $ — $ 75 Weighted average remaining contractual term (yrs.) 1.3 0 years 1.3 |
Summary of Restricted Stock Unit (RSU) Activity | Activity related to restricted stock unit awards during the six months ended June 30, 2023 is summarized in the following table: Service Market Plus Outstanding at December 31, 2022 139,194 114,481 RSUs granted 83,200 65,911 RSUs added through dividend and performance credits 2,263 — RSUs released (67,786) (55,928) RSUs forfeited/expired (450) (440) Outstanding at June 30, 2023 156,421 124,024 |
Non-interest Income and Expen_2
Non-interest Income and Expense (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Other Income and Expenses [Abstract] | |
Summary of Components of Non-Interest Income | The following table summarizes the Company’s non-interest income for the periods indicated: Three months ended Six months ended (in thousands) 2023 2022 2023 2022 ATM and interchange fees $ 6,856 $ 6,984 $ 13,200 $ 13,227 Service charges on deposit accounts 4,581 4,163 8,012 7,997 Other service fees 992 1,279 2,158 2,161 Mortgage banking service fees 454 482 919 945 Change in value of mortgage servicing rights 85 136 (124) 410 Total service charges and fees 12,968 13,044 24,165 24,740 Increase in cash value of life insurance 788 752 1,590 1,390 Asset management and commission income 1,158 1,039 2,092 1,926 Gain on sale of loans 295 542 501 1,788 Lease brokerage income 74 238 172 396 Sale of customer checks 407 441 695 545 Loss on sale of investment securities — — (164) — (Loss) gain on marketable equity securities (42) (94) — (231) Other 93 468 325 972 Total other non-interest income 2,773 3,386 5,211 6,786 Total non-interest income $ 15,741 $ 16,430 $ 29,376 $ 31,526 |
Summary of Components of Non Interest Expense | The components of non-interest expense were as follows: Three months ended Six months ended (in thousands) 2023 2022 2023 2022 Base salaries, net of deferred loan origination costs $ 24,059 $ 22,169 $ 47,059 $ 40,385 Incentive compensation 4,377 4,282 7,272 6,865 Benefits and other compensation costs 6,278 6,491 12,946 12,463 Total salaries and benefits expense 34,714 32,942 67,277 59,713 Occupancy 3,991 3,996 8,151 7,571 Data processing and software 4,638 3,596 8,670 7,109 Equipment 1,436 1,453 2,819 2,786 Intangible amortization 1,656 1,702 3,312 2,930 Advertising 1,016 818 1,775 1,455 ATM and POS network charges 1,902 1,781 3,611 3,156 Professional fees 1,985 1,233 3,574 2,109 Telecommunications 809 564 1,404 1,085 Regulatory assessments and insurance 1,993 779 2,785 1,499 Merger and acquisition expense — 2,221 — 6,253 Postage 311 313 610 541 Operational losses 1,090 456 1,525 273 Courier service 483 486 822 900 Gain on sale or acquisition of foreclosed assets — (98) — (98) Gain on disposal of fixed assets 18 5 18 (1,073) Other miscellaneous expense 5,201 4,017 8,684 6,502 Total other non-interest expense 26,529 23,322 47,760 42,998 Total non-interest expense $ 61,243 $ 56,264 $ 115,037 $ 102,711 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Summary of Computation of Earnings Per Share | Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following: Three months ended June 30, (in thousands) 2023 2022 Net income $ 24,892 $ 31,364 Average number of common shares outstanding 33,219 33,561 Effect of dilutive stock options and restricted stock 83 144 Average number of common shares outstanding used to calculate diluted earnings per share 33,302 33,705 Options excluded from diluted earnings per share because of their antidilutive effect — — Six months ended June 30, (in thousands) 2023 2022 Net income $ 60,725 $ 51,738 Average number of common shares outstanding 33,257 31,815 Effect of dilutive stock options and restricted stock 114 148 Average number of common shares outstanding used to calculate diluted earnings per share 33,371 31,963 Options excluded from diluted earnings per share because of their antidilutive effect — — |
Comprehensive Income (Loss) (Ta
Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Summary of Components of Other Comprehensive Income (Loss) and Related Tax Effects | The components of other comprehensive income (loss) and related tax effects are as follows: Three months ended Six months ended (in thousands) 2023 2022 2023 2022 Unrealized holding gains (losses) on available for sale securities before reclassifications $ (16,916) $ (97,408) $ 17,624 $ (208,710) Amounts reclassified out of AOCI: Realized loss on debt securities — — 164 — Unrealized holding gains (losses) on available for sale securities after reclassifications (16,916) (97,408) 17,788 (208,710) Tax effect 5,001 28,797 (5,259) 61,702 Unrealized holding gains (losses) on available for sale securities, net of tax (11,915) (68,611) 12,529 (147,008) Change in unfunded status of the supplemental retirement plans before reclassifications 114 29 228 92 Amounts reclassified out of AOCI: Amortization of prior service cost — (7) — (14) Amortization of actuarial losses (114) 2 (228) 4 Total amounts reclassified out of accumulated other comprehensive (loss) income (114) (5) (228) (10) Change in unfunded status of the supplemental retirement plans after reclassifications — 24 — 82 Tax effect — (24) — (24) Change in unfunded status of the supplemental retirement plans, net of tax — — — 58 Change in joint beneficiary agreement liability before reclassifications, net of tax — — — — Total other comprehensive income (loss) $ (11,915) $ (68,611) $ 12,529 $ (146,950) |
Summary of Components of Accumulated Other Comprehensive Loss | The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows: (in thousands) June 30, December 31, Net unrealized gain on available for sale securities $ (272,761) $ (290,549) Tax effect 80,638 85,897 Unrealized holding gain on available for sale securities, net of tax (192,123) (204,652) Unfunded status of the supplemental retirement plans 13,901 13,901 Tax effect (4,110) (4,110) Unfunded status of the supplemental retirement plans, net of tax 9,791 9,791 Joint beneficiary agreement liability 956 956 Tax effect — — Joint beneficiary agreement liability, net of tax 956 956 Accumulated other comprehensive loss $ (181,376) $ (193,905) |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Summary of Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis | The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands): Fair value at June 30, 2023 Total Level 1 Level 2 Level 3 Marketable equity securities $ 2,598 $ 2,598 Debt securities available for sale: Obligations of U.S. government corporations and agencies 1,309,424 1,309,424 Obligations of states and political subdivisions 275,651 275,651 Corporate bonds 5,501 5,501 Asset backed securities 453,467 453,467 Non-agency mortgage backed securities 276,370 276,370 Loans held for sale 1,058 1,058 Mortgage servicing rights 6,741 6,741 Total assets measured at fair value $ 2,330,810 $ 2,598 $ 2,321,471 $ 6,741 Fair value at December 31, 2022 Total Level 1 Level 2 Level 3 Marketable equity securities $ 2,598 $ 2,598 $ — $ — Debt securities available for sale: Obligations of U.S. government corporations and agencies 1,372,769 — 1,372,769 — Obligations of states and political subdivisions 293,205 — 293,205 — Corporate bonds 5,751 — 5,751 — Asset backed securities 439,767 — 439,767 — Non-agency mortgage backed securities 340,946 340,946 Loans held for sale 1,846 — 1,846 — Mortgage servicing rights 6,712 — — 6,712 Total assets measured at fair value $ 2,463,594 $ 2,598 $ 2,454,284 $ 6,712 |
Summary of Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis | The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands): Three months ended June 30, Beginning Transfers Change Issuances Ending 2023: Mortgage servicing rights $ 6,553 $ 84 $ 104 $ 6,741 2022: Mortgage servicing rights $ 6,405 — $ 136 $ 126 $ 6,667 |
Summary of Quantitative Information about Recurring Level 3 Fair Value Measurements | The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2023 and December 31, 2022: As of June 30, 2023: Fair Value Valuation Unobservable Range, Mortgage Servicing Rights $ 6,741 Discounted cash flow Constant prepayment rate 6% - 12%; 7.8% Discount rate 10% - 14%; 12% As of December 31, 2022: Mortgage Servicing Rights $ 6,712 Discounted cash flow Constant prepayment rate 7% - 13.6%; 7.6% Discount rate 10% - 14%; 12% |
Summary of Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated, that had a write-down or an additional allowance provided during the periods indicated (in thousands): June 30, 2023 Total Level 1 Level 2 Level 3 Fair value: Individually evaluated loans $ 3,730 — — $ 3,730 Foreclosed assets 1,449 — — 1,449 Total assets measured at fair value $ 5,179 $ — $ — $ 5,179 December 31, 2022 Total Level 1 Level 2 Level 3 Fair value: Individually evaluated loans $ 5,719 — — $ 5,719 Foreclosed assets 311 — — 311 Total assets measured at fair value $ 6,030 — — $ 6,030 The tables below present the losses resulting from non-recurring fair value adjustments of assets and liabilities for the periods indicated (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Individually evaluated loans $ (6,754) $ — $ (7,031) $ (615) Foreclosed assets (525) (98) (525) (392) Total losses from non-recurring measurements $ (7,279) $ (98) $ (7,556) $ (1,007) |
Summary of Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2023: June 30, 2023 Fair Value Valuation Unobservable Inputs Range, Individually evaluated loans $ 3,730 Sales comparison Adjustment for differences between Not meaningful Foreclosed assets (Residential real estate) $ 1,449 Sales comparison Adjustment for differences between Not meaningful The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2022: December 31, 2022 Fair Value Valuation Unobservable Inputs Range, Individually evaluated loans $ 5,719 Sales comparison Adjustment for differences between Not meaningful Foreclosed assets (Residential real estate) $ 311 Sales comparison Adjustment for differences between Not meaningful |
Summary of Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets | June 30, 2023 December 31, 2022 (in thousands) Carrying Fair Carrying Fair Financial assets: Level 1 inputs: Cash and due from banks $ 93,485 $ 93,485 $ 96,323 $ 96,323 Cash at Federal Reserve and other banks 25,307 25,307 10,907 10,907 Level 2 inputs: Securities held to maturity 145,117 134,409 160,983 149,938 Restricted equity securities 17,250 N/A 17,250 N/A Level 3 inputs: Loans, net 6,403,411 6,103,731 6,344,767 6,153,155 Financial liabilities: Level 2 inputs: Deposits 8,095,365 8,087,270 8,329,013 8,321,517 Other borrowings 392,714 392,714 264,605 264,605 Level 3 inputs: Junior subordinated debt 101,065 94,425 101,040 92,613 (in thousands) Contract Fair Contract Fair Off-balance sheet: Level 3 inputs: Commitments $ 2,325,109 $ 23,251 $ 2,188,560 $ 21,886 Standby letters of credit 26,916 269 26,599 266 Overdraft privilege commitments 125,067 1,250 126,634 1,266 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge [Abstract] | |
Summary of Actual and Required Capital Ratios of Bank | Actual Required for Capital Adequacy Purposes Required to be As of June 30, 2023: Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets): Consolidated $ 1,152,530 14.47 % $ 836,038 10.50 % N/A N/A Tri Counties Bank $ 1,147,002 14.41 % $ 835,843 10.50 % $ 796,041 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 1,010,295 12.69 % $ 676,793 8.50 % N/A N/A Tri Counties Bank $ 1,047,217 13.16 % $ 676,635 8.50 % $ 636,833 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 953,407 11.97 % $ 557,359 7.00 % N/A N/A Tri Counties Bank $ 1,047,217 13.16 % $ 557,229 7.00 % $ 517,427 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 1,010,295 10.41 % $ 388,260 4.00 % N/A N/A Tri Counties Bank $ 1,047,217 10.79 % $ 388,217 4.00 % $ 485,271 5.00 % Actual Required for Capital Adequacy Purposes Required to be As of December 31, 2022: Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets): Consolidated $ 1,115,257 14.19 % $ 825,234 10.50 % N/A N/A Tri Counties Bank $ 1,107,941 14.10 % $ 825,039 10.50 % $ 785,751 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 974,325 12.40 % $ 668,047 8.50 % N/A N/A Tri Counties Bank $ 1,009,577 12.85 % $ 667,888 8.50 % $ 628,601 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 917,565 11.67 % $ 550,156 7.00 % N/A N/A Tri Counties Bank $ 1,009,577 12.85 % $ 550,026 7.00 % $ 510,738 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 974,325 10.14 % $ 384,337 4.00 % N/A N/A Tri Counties Bank $ 1,009,577 10.51 % $ 384,146 4.00 % $ 480,183 5.00 % |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2023 USD ($) office county segment trust | |
Significant Accounting Policies [Line Items] | |
Number of subsidiary business trusts (in trusts) | 5 |
Number of subsidiary business trusts organized by the company (in trusts) | 2 |
Company's investments in the trusts | $ | $ 1,760 |
Number of business segment (in segments) | segment | 1 |
Loans contractual past due | 90 days |
North Valley Bancorp | |
Significant Accounting Policies [Line Items] | |
Number of loan production offices (in offices) | office | 3 |
Minimum | |
Significant Accounting Policies [Line Items] | |
Loan term | 5 years |
Amortization period | 15 years |
Maximum | |
Significant Accounting Policies [Line Items] | |
Loan term | 10 years |
Amortization period | 30 years |
California | |
Significant Accounting Policies [Line Items] | |
Number of counties (in counties) | county | 33 |
Business Combinations - Narrati
Business Combinations - Narrative (Details) - Valley Republic Bancorp $ / shares in Units, $ in Thousands, shares in Millions | Mar. 25, 2022 USD ($) $ / shares shares |
Business Acquisition [Line Items] | |
Total consideration value | $ 174,016 |
Share price (in dollars per share) | $ / shares | $ 42.48 |
Issue of common stock (in shares) | shares | 4.1 |
Settlement of stock option awards | $ 431 |
Business Combinations - Schedul
Business Combinations - Schedule of Fair Value of Consideration Transferred, Identifiable Net Assets Acquired and Resulting Goodwill (Detail) - USD ($) $ in Thousands | Mar. 25, 2022 | Jun. 30, 2023 | Dec. 31, 2022 |
Liabilities assumed: | |||
Goodwill recognized | $ 304,442 | $ 304,442 | |
Valley Republic Bancorp | |||
Fair value of consideration transferred: | |||
Fair value of shares issued | $ 173,585 | ||
Cash consideration | 431 | ||
Total fair value of consideration transferred | 174,016 | ||
Assets acquired: | |||
Cash and cash equivalents | 427,314 | ||
Securities available for sale | 109,716 | ||
Loans and leases | 771,353 | ||
Premises and equipment | 4,658 | ||
Cash value of life insurance | 13,609 | ||
Core deposit intangible | 10,635 | ||
Other assets | 29,744 | ||
Total assets acquired | 1,367,029 | ||
Liabilities assumed: | |||
Deposits | (1,215,479) | ||
Subordinated debt | (47,236) | ||
SERP liability | (3,352) | ||
Other liabilities | (10,516) | ||
Total liabilities assumed | (1,276,583) | ||
Total net assets acquired | 90,446 | ||
Goodwill recognized | $ 83,570 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Values of Investments Securities (Detail) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities Available for Sale | ||
Amortized Cost | $ 2,593,175,000 | $ 2,742,987,000 |
Gross Unrealized Gains | 423,000 | 421,000 |
Gross Unrealized Losses | (273,185,000) | (290,970,000) |
Allowance for Credit Losses | 0 | 0 |
Estimated Fair Value | 2,320,413,000 | 2,452,438,000 |
Debt Securities Held to Maturity | ||
Amortized Cost | 145,117,000 | 160,983,000 |
Gross Unrealized Gains | 2,000 | 15,000 |
Gross Unrealized Losses | (10,710,000) | (11,060,000) |
Allowance for Credit Losses | 0 | 0 |
Estimated Fair Value | 134,409,000 | 149,938,000 |
Obligations of U.S. government agencies | ||
Debt Securities Available for Sale | ||
Amortized Cost | 1,497,396,000 | 1,568,408,000 |
Gross Unrealized Gains | 0 | 3,000 |
Gross Unrealized Losses | (187,972,000) | (195,642,000) |
Allowance for Credit Losses | 0 | 0 |
Estimated Fair Value | 1,309,424,000 | 1,372,769,000 |
Debt Securities Held to Maturity | ||
Amortized Cost | 142,466,000 | 154,830,000 |
Gross Unrealized Gains | 1,000 | 2,000 |
Gross Unrealized Losses | (10,664,000) | (11,013,000) |
Allowance for Credit Losses | 0 | 0 |
Estimated Fair Value | 131,803,000 | 143,819,000 |
Obligations of states and political subdivisions | ||
Debt Securities Available for Sale | ||
Amortized Cost | 307,961,000 | 332,625,000 |
Gross Unrealized Gains | 377,000 | 401,000 |
Gross Unrealized Losses | (32,687,000) | (39,821,000) |
Allowance for Credit Losses | 0 | 0 |
Estimated Fair Value | 275,651,000 | 293,205,000 |
Debt Securities Held to Maturity | ||
Amortized Cost | 2,651,000 | 6,153,000 |
Gross Unrealized Gains | 1,000 | 13,000 |
Gross Unrealized Losses | (46,000) | (47,000) |
Allowance for Credit Losses | 0 | 0 |
Estimated Fair Value | 2,606,000 | 6,119,000 |
Corporate bonds | ||
Debt Securities Available for Sale | ||
Amortized Cost | 6,168,000 | 6,164,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (667,000) | (413,000) |
Allowance for Credit Losses | 0 | 0 |
Estimated Fair Value | 5,501,000 | 5,751,000 |
Asset backed securities | ||
Debt Securities Available for Sale | ||
Amortized Cost | 464,331,000 | 454,943,000 |
Gross Unrealized Gains | 46,000 | 17,000 |
Gross Unrealized Losses | (10,910,000) | (15,193,000) |
Allowance for Credit Losses | 0 | 0 |
Estimated Fair Value | 453,467,000 | 439,767,000 |
Non-agency collateralized mortgage obligations | ||
Debt Securities Available for Sale | ||
Amortized Cost | 317,319,000 | 380,847,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (40,949,000) | (39,901,000) |
Allowance for Credit Losses | 0 | 0 |
Estimated Fair Value | $ 276,370,000 | $ 340,946,000 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 USD ($) securityLoan investmentSecurity | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) securityLoan investmentSecurity | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Investment Securities [Line Items] | |||||
Proceeds from the sale of investment securities | $ 24,200,000 | $ 0 | $ 24,200,000 | $ 0 | |
Gross realized losses from the sale of investment securities | $ 0 | $ 0 | |||
Securities pledged as collateral | 624,400,000 | 624,400,000 | $ 595,800,000 | ||
Residential real estate mortgage-backed securities | 1,500,000,000 | $ 1,500,000,000 | |||
Life of mortgage-backed securities | 6 years 6 months 14 days | ||||
Allowance for credit losses | 0 | $ 0 | 0 | ||
Obligations of U.S. government agencies | |||||
Investment Securities [Line Items] | |||||
Impairment losses recognized | 0 | 0 | |||
Allowance for credit losses | $ 0 | $ 0 | 0 | ||
Number of available for sale securities in unrealized loss position (in investment securities) | investmentSecurity | 265 | 265 | |||
Percentage of aggregate depreciation in unrealized losses | 12.11% | 12.11% | |||
Obligations of states and political subdivisions | |||||
Investment Securities [Line Items] | |||||
Impairment losses recognized | $ 0 | $ 0 | |||
Allowance for credit losses | $ 0 | $ 0 | 0 | ||
Number of available for sale securities in unrealized loss position (in investment securities) | investmentSecurity | 172 | 172 | |||
Percentage of aggregate depreciation in unrealized losses | 11.61% | 11.61% | |||
Corporate bonds | |||||
Investment Securities [Line Items] | |||||
Impairment losses recognized | $ 0 | $ 0 | |||
Allowance for credit losses | $ 0 | $ 0 | 0 | ||
Number of available for sale securities in unrealized loss position (in investment securities) | investmentSecurity | 6 | 6 | |||
Percentage of aggregate depreciation in unrealized losses | 10.81% | 10.81% | |||
Asset backed securities | |||||
Investment Securities [Line Items] | |||||
Impairment losses recognized | $ 0 | $ 0 | |||
Allowance for credit losses | $ 0 | $ 0 | 0 | ||
Number of available for sale securities in unrealized loss position (in investment securities) | investmentSecurity | 48 | 48 | |||
Percentage of aggregate depreciation in unrealized losses | 2.38% | 2.38% | |||
Non-agency collateralized mortgage obligations | |||||
Investment Securities [Line Items] | |||||
Impairment losses recognized | $ 0 | $ 0 | |||
Allowance for credit losses | $ 0 | $ 0 | $ 0 | ||
Number of available for sale securities in unrealized loss position (in investment securities) | securityLoan | 21 | 21 | |||
Allowance for credit loss | $ 0 | $ 0 | |||
Percentage of aggregate depreciation in unrealized losses | 12.90% | 12.90% |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Amortized Cost | ||
Due in one year | $ 91,262 | |
Due after one year through five years | 75,911 | |
Due after five years through ten years | 406,088 | |
Due after ten years | 2,019,914 | |
Amortized Cost | 2,593,175 | $ 2,742,987 |
Estimated Fair Value | ||
Due in one year | 88,777 | |
Due after one year through five years | 72,601 | |
Due after five years through ten years | 385,442 | |
Due after ten years | 1,773,593 | |
Totals | 2,320,413 | 2,452,438 |
Amortized Cost | ||
Due in one year | 0 | |
Due after one year through five years | 6,790 | |
Due after five years through ten years | 30,471 | |
Due after ten years | 107,856 | |
Totals | 145,117 | 160,983 |
Estimated Fair Value | ||
Due in one year | 0 | |
Due after one year through five years | 6,485 | |
Due after five years through ten years | 27,882 | |
Due after ten years | 100,042 | |
Totals | $ 134,409 | $ 149,938 |
Investment Securities - Gross U
Investment Securities - Gross Unrealized Losses on Debt Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities Available for Sale | ||
Less than 12 months, Fair Value | $ 341,589 | $ 1,185,676 |
Less than 12 months, Unrealized Loss | (13,825) | (97,101) |
12 months or more, Fair Value | 1,945,453 | 1,218,843 |
12 months or more, Unrealized Loss | (259,360) | (193,869) |
Total, Fair Value | 2,287,042 | 2,404,519 |
Total, Unrealized Loss | (273,185) | (290,970) |
Debt Securities Held to Maturity | ||
Less than 12 months, Fair Value | 40,032 | 148,107 |
Less than 12 Months, Unrealized Loss | (2,552) | (11,060) |
12 months or more, Fair Value | 93,289 | 0 |
12 months or more, Unrealized Loss | (8,158) | 0 |
Total, Fair Value | 133,321 | 148,107 |
Total, Unrealized Loss | (10,710) | (11,060) |
Obligations of U.S. government agencies | ||
Debt Securities Available for Sale | ||
Less than 12 months, Fair Value | 148,377 | 605,615 |
Less than 12 months, Unrealized Loss | (9,454) | (61,408) |
12 months or more, Fair Value | 1,160,872 | 766,612 |
12 months or more, Unrealized Loss | (178,518) | (134,234) |
Total, Fair Value | 1,309,249 | 1,372,227 |
Total, Unrealized Loss | (187,972) | (195,642) |
Debt Securities Held to Maturity | ||
Less than 12 months, Fair Value | 39,059 | 143,577 |
Less than 12 Months, Unrealized Loss | (2,530) | (11,013) |
12 months or more, Fair Value | 92,743 | 0 |
12 months or more, Unrealized Loss | (8,134) | 0 |
Total, Fair Value | 131,802 | 143,577 |
Total, Unrealized Loss | (10,664) | (11,013) |
Obligations of states and political subdivisions | ||
Debt Securities Available for Sale | ||
Less than 12 months, Fair Value | 42,997 | 219,532 |
Less than 12 months, Unrealized Loss | (958) | (26,904) |
12 months or more, Fair Value | 204,574 | 43,282 |
12 months or more, Unrealized Loss | (31,729) | (12,917) |
Total, Fair Value | 247,571 | 262,814 |
Total, Unrealized Loss | (32,687) | (39,821) |
Debt Securities Held to Maturity | ||
Less than 12 months, Fair Value | 973 | 4,530 |
Less than 12 Months, Unrealized Loss | (22) | (47) |
12 months or more, Fair Value | 546 | 0 |
12 months or more, Unrealized Loss | (24) | 0 |
Total, Fair Value | 1,519 | 4,530 |
Total, Unrealized Loss | (46) | (47) |
Corporate bonds | ||
Debt Securities Available for Sale | ||
Less than 12 months, Fair Value | 0 | 5,751 |
Less than 12 months, Unrealized Loss | 0 | (413) |
12 months or more, Fair Value | 5,501 | 0 |
12 months or more, Unrealized Loss | (667) | 0 |
Total, Fair Value | 5,501 | 5,751 |
Total, Unrealized Loss | (667) | (413) |
Asset backed securities | ||
Debt Securities Available for Sale | ||
Less than 12 months, Fair Value | 88,449 | 231,703 |
Less than 12 months, Unrealized Loss | (1,240) | (4,955) |
12 months or more, Fair Value | 359,902 | 205,329 |
12 months or more, Unrealized Loss | (9,670) | (10,238) |
Total, Fair Value | 448,351 | 437,032 |
Total, Unrealized Loss | (10,910) | (15,193) |
Non-agency collateralized mortgage obligations | ||
Debt Securities Available for Sale | ||
Less than 12 months, Fair Value | 61,766 | 123,075 |
Less than 12 months, Unrealized Loss | (2,173) | (3,421) |
12 months or more, Fair Value | 214,604 | 203,620 |
12 months or more, Unrealized Loss | (38,776) | (36,480) |
Total, Fair Value | 276,370 | 326,695 |
Total, Unrealized Loss | $ (40,949) | $ (39,901) |
Investment Securities - Amort_3
Investment Securities - Amortized Cost of Debt Securities Held-to-Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Securities held to maturity | $ 145,117 | $ 160,983 |
AAA/AA/A | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Securities held to maturity | 145,117 | 160,983 |
BBB/BB/B | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Securities held to maturity | 0 | 0 |
Obligations of U.S. government agencies | AAA/AA/A | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Securities held to maturity | 142,466 | 154,830 |
Obligations of U.S. government agencies | BBB/BB/B | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Securities held to maturity | 0 | 0 |
Obligations of states and political subdivisions | AAA/AA/A | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Securities held to maturity | 2,651 | 6,153 |
Obligations of states and political subdivisions | BBB/BB/B | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Securities held to maturity | $ 0 | $ 0 |
Loans - Summary of Loan Balance
Loans - Summary of Loan Balances (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | $ 6,520,740 | $ 6,450,447 | ||||
Total principal balance of loans owed, net of charge-offs | 6,565,576 | 6,496,210 | ||||
Unamortized net deferred loan fees | (17,182) | (15,275) | ||||
Discounts to principal balance of loans owed, net of charge-offs | (27,654) | (30,488) | ||||
Allowance for credit losses | (117,329) | $ (108,407) | (105,680) | $ (97,944) | $ (96,049) | $ (85,376) |
Commercial Real Estate | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 4,343,924 | 4,359,083 | ||||
Allowance for credit losses | (71,016) | (64,937) | (61,381) | (55,450) | (54,992) | (51,140) |
Consumer | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 1,252,225 | 1,240,743 | ||||
Allowance for credit losses | (26,513) | (24,896) | (24,639) | (23,931) | (23,679) | (23,474) |
Commercial and industrial | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 576,247 | 569,921 | ||||
Allowance for credit losses | (11,647) | (12,069) | (13,597) | (9,979) | (9,042) | (3,862) |
Construction | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 278,425 | 211,560 | ||||
Allowance for credit losses | (7,031) | (5,655) | (5,142) | (7,522) | (7,437) | (5,667) |
Agriculture production | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 61,337 | 61,414 | ||||
Allowance for credit losses | (1,105) | (833) | (906) | (1,046) | (883) | (1,215) |
Leases | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 8,582 | 7,726 | ||||
Allowance for credit losses | (17) | (17) | (15) | (16) | (16) | (18) |
CRE non-owner occupied | Commercial Real Estate | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 2,143,146 | 2,149,725 | ||||
Allowance for credit losses | (33,042) | (32,963) | (30,962) | (28,081) | (28,055) | (25,739) |
CRE owner occupied | Commercial Real Estate | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 972,361 | 984,807 | ||||
Allowance for credit losses | (20,208) | (14,559) | (14,014) | (12,620) | (12,071) | (10,691) |
Multifamily | Commercial Real Estate | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 951,590 | 944,537 | ||||
Allowance for credit losses | (14,075) | (13,873) | (13,132) | (11,795) | (11,987) | (12,395) |
Farmland | Commercial Real Estate | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 276,827 | 280,014 | ||||
Allowance for credit losses | (3,691) | (3,542) | (3,273) | (2,954) | (2,879) | (2,315) |
SFR 1-4 1st DT liens | Consumer | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 829,346 | 790,349 | ||||
SFR HELOCs and junior liens | Consumer | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 363,600 | 393,666 | ||||
Allowance for credit losses | (10,608) | (10,914) | (11,413) | (11,591) | (10,843) | (10,510) |
Other | Consumer | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Financing receivable | 59,279 | 56,728 | ||||
Allowance for credit losses | $ (2,771) | $ (2,062) | $ (1,958) | $ (2,029) | $ (2,167) | $ (2,241) |
Allowance for Credit Losses - S
Allowance for Credit Losses - Summary of Activity in Allowance for Loan Losses (Detail) - 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 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | $ 108,407 | $ 96,049 | $ 105,680 | $ 85,376 | $ 85,376 |
ACL on PCD Loans | 0 | ||||
Charge-offs | (276) | (401) | (2,034) | (1,144) | (1,585) |
Recoveries | 218 | 356 | 388 | 1,530 | 1,907 |
Provision (benefit) | 8,980 | 1,940 | 13,295 | 10,145 | 17,945 |
Ending Balance | 117,329 | 97,944 | 117,329 | 97,944 | 105,680 |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | |||||
Beginning Balance | 4,195 | 3,915 | 4,315 | 3,790 | 3,790 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision (benefit) | 670 | 160 | 550 | 285 | 525 |
Ending Balance | 4,865 | 4,075 | 4,865 | 4,075 | 4,315 |
Credit Loss [Roll Forward] | |||||
Beginning Balance | 112,602 | 99,964 | 109,995 | 89,166 | 89,166 |
ACL on PCD Loans | 0 | ||||
Charge-offs | (276) | (401) | (2,034) | (1,144) | (1,585) |
Recoveries | 218 | 356 | 388 | 1,530 | 1,907 |
Provision (benefit) | 9,650 | 2,100 | 13,845 | 10,430 | 18,470 |
Ending Balance | 122,194 | 102,019 | 122,194 | 102,019 | 109,995 |
ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 2,037 | 2,037 | |||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | |||||
Beginning Balance | 0 | 0 | |||
Credit Loss [Roll Forward] | |||||
Beginning Balance | 2,037 | 2,037 | |||
Commercial Real Estate | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 64,937 | 54,992 | 61,381 | 51,140 | 51,140 |
ACL on PCD Loans | 0 | ||||
Charge-offs | 0 | 0 | 0 | (294) | (294) |
Recoveries | 1 | 1 | 1 | 1 | 3 |
Provision (benefit) | 6,078 | 457 | 9,634 | 3,030 | 8,959 |
Ending Balance | 71,016 | 55,450 | 71,016 | 55,450 | 61,381 |
Commercial Real Estate | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 1,573 | 1,573 | |||
Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 24,896 | 23,679 | 24,639 | 23,474 | 23,474 |
ACL on PCD Loans | 0 | ||||
Charge-offs | (163) | (166) | (347) | (285) | (594) |
Recoveries | 63 | 230 | 179 | 516 | 743 |
Provision (benefit) | 1,717 | 188 | 2,042 | 82 | 872 |
Ending Balance | 26,513 | 23,931 | 26,513 | 23,931 | 24,639 |
Consumer | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 144 | 144 | |||
Commercial and industrial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 12,069 | 9,042 | 13,597 | 3,862 | 3,862 |
ACL on PCD Loans | |||||
Charge-offs | (113) | (235) | (1,687) | (565) | (697) |
Recoveries | 123 | 124 | 176 | 1,011 | 1,157 |
Provision (benefit) | (432) | 1,048 | (439) | 5,590 | 9,194 |
Ending Balance | 11,647 | 9,979 | 11,647 | 9,979 | 13,597 |
Commercial and industrial | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 81 | 81 | |||
Construction | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 5,655 | 7,437 | 5,142 | 5,667 | 5,667 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision (benefit) | 1,376 | 85 | 1,889 | 1,654 | (726) |
Ending Balance | 7,031 | 7,522 | 7,031 | 7,522 | 5,142 |
Construction | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 201 | 201 | |||
Agriculture production | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 833 | 883 | 906 | 1,215 | 1,215 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 31 | 1 | 32 | 2 | 4 |
Provision (benefit) | 241 | 162 | 167 | (209) | (351) |
Ending Balance | 1,105 | 1,046 | 1,105 | 1,046 | 906 |
Agriculture production | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 38 | 38 | |||
Leases | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 17 | 16 | 15 | 18 | 18 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision (benefit) | 0 | 0 | 2 | (2) | (3) |
Ending Balance | 17 | 16 | 17 | 16 | 15 |
Leases | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 0 | 0 | |||
CRE non-owner occupied | Commercial Real Estate | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 32,963 | 28,055 | 30,962 | 25,739 | 25,739 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 | 1 |
Provision (benefit) | 79 | 26 | 2,080 | 1,596 | 4,476 |
Ending Balance | 33,042 | 28,081 | 33,042 | 28,081 | 30,962 |
CRE non-owner occupied | Commercial Real Estate | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 746 | 746 | |||
CRE owner occupied | Commercial Real Estate | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 14,559 | 12,071 | 14,014 | 10,691 | 10,691 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 1 | 1 | 1 | 1 | 2 |
Provision (benefit) | 5,648 | 548 | 6,193 | 1,865 | 3,258 |
Ending Balance | 20,208 | 12,620 | 20,208 | 12,620 | 14,014 |
CRE owner occupied | Commercial Real Estate | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 63 | 63 | |||
Multifamily | Commercial Real Estate | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 13,873 | 11,987 | 13,132 | 12,395 | 12,395 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision (benefit) | 202 | (192) | 943 | (600) | 737 |
Ending Balance | 14,075 | 11,795 | 14,075 | 11,795 | 13,132 |
Multifamily | Commercial Real Estate | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 0 | 0 | |||
Farmland | Commercial Real Estate | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 3,542 | 2,879 | 3,273 | 2,315 | 2,315 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | 0 | (294) | (294) |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision (benefit) | 149 | 75 | 418 | 169 | 488 |
Ending Balance | 3,691 | 2,954 | 3,691 | 2,954 | 3,273 |
Farmland | Commercial Real Estate | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 764 | 764 | |||
SFR 1-4 1st DT liens | Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 11,920 | 10,669 | 11,268 | 10,723 | 10,723 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 1 | 0 | 41 | 79 |
Provision (benefit) | 1,214 | (359) | 1,866 | (597) | 322 |
Ending Balance | 13,134 | 10,311 | 13,134 | 10,311 | 11,268 |
SFR 1-4 1st DT liens | Consumer | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 144 | 144 | |||
SFR HELOCs and junior liens | Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 10,914 | 10,843 | 11,413 | 10,510 | 10,510 |
ACL on PCD Loans | |||||
Charge-offs | 0 | 0 | (42) | 0 | (22) |
Recoveries | 37 | 153 | 102 | 328 | 429 |
Provision (benefit) | (343) | 595 | (865) | 753 | 496 |
Ending Balance | 10,608 | 11,591 | 10,608 | 11,591 | 11,413 |
SFR HELOCs and junior liens | Consumer | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 0 | 0 | |||
Other | Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | 2,062 | 2,167 | 1,958 | 2,241 | 2,241 |
ACL on PCD Loans | |||||
Charge-offs | (163) | (166) | (305) | (285) | (572) |
Recoveries | 26 | 76 | 77 | 147 | 235 |
Provision (benefit) | 846 | (48) | 1,041 | (74) | 54 |
Ending Balance | $ 2,771 | $ 2,029 | $ 2,771 | 2,029 | 1,958 |
Other | Consumer | ACL of PCD Loans | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning Balance | $ 0 | $ 0 |
Allowance for Credit Losses -_2
Allowance for Credit Losses - Summary of Loans and Lease Purchased and Acquired with Credit Deterioration (Details) $ in Thousands | Mar. 25, 2022 USD ($) |
Financing Receivable, Past Due [Line Items] | |
Par value | $ 68,513 |
ACL at acquisition | (2,037) |
Non-credit discount | (2,956) |
Purchase price | 63,520 |
Commercial Real Estate | |
Financing Receivable, Past Due [Line Items] | |
Par value | 27,237 |
ACL at acquisition | (1,573) |
Non-credit discount | (2,305) |
Purchase price | 23,359 |
Consumer | |
Financing Receivable, Past Due [Line Items] | |
Par value | 3,877 |
ACL at acquisition | (144) |
Non-credit discount | (360) |
Purchase price | 3,373 |
Commercial and industrial | |
Financing Receivable, Past Due [Line Items] | |
Par value | 2,674 |
ACL at acquisition | (81) |
Non-credit discount | (47) |
Purchase price | 2,546 |
Construction | |
Financing Receivable, Past Due [Line Items] | |
Par value | 25,645 |
ACL at acquisition | (201) |
Non-credit discount | (232) |
Purchase price | 25,212 |
Agriculture production | |
Financing Receivable, Past Due [Line Items] | |
Par value | 9,080 |
ACL at acquisition | (38) |
Non-credit discount | (12) |
Purchase price | $ 9,030 |
Allowance for Credit Losses - A
Allowance for Credit Losses - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Allowance For Loan And Lease Losses [Abstract] | ||||
Threshold for loan analysis | $ 1,000 | $ 1,000 | ||
Interest lost on nonaccrual loans | 960 | $ 240 | 1,300 | $ 400 |
Interest income on nonaccrual loans | $ 700 | $ 10 | $ 700 | $ 10 |
Allowance for Credit Losses -_3
Allowance for Credit Losses - Schedule Credit Quality Indicators (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | $ 276,426 | $ 1,246,402 |
Fiscal year before latest fiscal year | 1,274,430 | 1,284,725 |
Two years before latest fiscal year | 1,264,623 | 607,121 |
Three years before latest fiscal year | 585,559 | 526,167 |
Four years before latest fiscal year | 501,627 | 378,767 |
Prior | 1,642,566 | 1,383,071 |
Revolving Loans Amortized Cost Basis | 962,228 | 1,010,395 |
Revolving Loans Converted to Term | 13,281 | 13,799 |
Financing receivable | 6,520,740 | 6,450,447 |
Current period gross charge-offs | ||
Current fiscal year | 135 | |
Fiscal year before latest fiscal year | 48 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 36 | |
Four years before latest fiscal year | 0 | |
Prior | 2 | |
Revolving Loans Amortized Cost Basis | 55 | |
Revolving Loans Converted to Term | 0 | |
Total | 276 | |
Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Financing receivable | 4,343,924 | 4,359,083 |
Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Financing receivable | 1,252,225 | 1,240,743 |
Commercial and industrial | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 41,139 | 130,035 |
Fiscal year before latest fiscal year | 98,808 | 66,247 |
Two years before latest fiscal year | 63,054 | 22,946 |
Three years before latest fiscal year | 15,950 | 23,194 |
Four years before latest fiscal year | 17,589 | 7,799 |
Prior | 10,730 | 6,430 |
Revolving Loans Amortized Cost Basis | 328,169 | 312,686 |
Revolving Loans Converted to Term | 808 | 584 |
Financing receivable | 576,247 | 569,921 |
Current period gross charge-offs | ||
Current fiscal year | 63 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 50 | |
Revolving Loans Converted to Term | 0 | |
Total | 113 | |
Construction | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 19,561 | 72,840 |
Fiscal year before latest fiscal year | 133,019 | 72,308 |
Two years before latest fiscal year | 66,947 | 43,409 |
Three years before latest fiscal year | 47,431 | 15,815 |
Four years before latest fiscal year | 4,895 | 2,159 |
Prior | 6,572 | 5,029 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 278,425 | 211,560 |
Current period gross charge-offs | ||
Current fiscal year | 0 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
Agriculture production | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 249 | 3,414 |
Fiscal year before latest fiscal year | 3,154 | 2,777 |
Two years before latest fiscal year | 2,407 | 1,149 |
Three years before latest fiscal year | 882 | 1,104 |
Four years before latest fiscal year | 875 | 8,992 |
Prior | 8,907 | 1,089 |
Revolving Loans Amortized Cost Basis | 44,863 | 42,889 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 61,337 | 61,414 |
Current period gross charge-offs | ||
Current fiscal year | 0 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
Leases | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 8,582 | 7,726 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 8,582 | 7,726 |
Current period gross charge-offs | ||
Current fiscal year | 0 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 74,480 | 399,910 |
Fiscal year before latest fiscal year | 411,202 | 305,500 |
Two years before latest fiscal year | 296,163 | 153,728 |
Three years before latest fiscal year | 145,352 | 241,692 |
Four years before latest fiscal year | 244,830 | 148,901 |
Prior | 865,178 | 774,854 |
Revolving Loans Amortized Cost Basis | 105,941 | 125,140 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 2,143,146 | 2,149,725 |
Current period gross charge-offs | ||
Current fiscal year | 0 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 43,556 | 213,445 |
Fiscal year before latest fiscal year | 195,734 | 214,083 |
Two years before latest fiscal year | 209,441 | 126,412 |
Three years before latest fiscal year | 130,291 | 66,868 |
Four years before latest fiscal year | 62,310 | 50,858 |
Prior | 301,157 | 268,762 |
Revolving Loans Amortized Cost Basis | 29,872 | 44,379 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 972,361 | 984,807 |
Current period gross charge-offs | ||
Current fiscal year | 0 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
Multifamily | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 7,578 | 159,318 |
Fiscal year before latest fiscal year | 179,229 | 290,170 |
Two years before latest fiscal year | 292,803 | 96,937 |
Three years before latest fiscal year | 90,198 | 108,586 |
Four years before latest fiscal year | 107,518 | 106,287 |
Prior | 236,421 | 154,250 |
Revolving Loans Amortized Cost Basis | 37,843 | 28,989 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 951,590 | 944,537 |
Current period gross charge-offs | ||
Current fiscal year | 0 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
Farmland | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 14,477 | 50,206 |
Fiscal year before latest fiscal year | 50,066 | 54,058 |
Two years before latest fiscal year | 52,667 | 18,757 |
Three years before latest fiscal year | 16,986 | 24,354 |
Four years before latest fiscal year | 22,574 | 15,544 |
Prior | 60,251 | 45,613 |
Revolving Loans Amortized Cost Basis | 59,806 | 71,482 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 276,827 | 280,014 |
Current period gross charge-offs | ||
Current fiscal year | 0 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 52,682 | 194,933 |
Fiscal year before latest fiscal year | 192,527 | 266,574 |
Two years before latest fiscal year | 270,341 | 133,453 |
Three years before latest fiscal year | 129,675 | 33,677 |
Four years before latest fiscal year | 32,392 | 32,826 |
Prior | 147,398 | 124,844 |
Revolving Loans Amortized Cost Basis | 0 | 8 |
Revolving Loans Converted to Term | 4,331 | 4,034 |
Financing receivable | 829,346 | 790,349 |
Current period gross charge-offs | ||
Current fiscal year | 0 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 307 | 505 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 110 | 127 |
Revolving Loans Amortized Cost Basis | 355,041 | 383,853 |
Revolving Loans Converted to Term | 8,142 | 9,181 |
Financing receivable | 363,600 | 393,666 |
Current period gross charge-offs | ||
Current fiscal year | 0 | |
Fiscal year before latest fiscal year | 0 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 0 | |
Four years before latest fiscal year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
Other | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 13,815 | 14,070 |
Fiscal year before latest fiscal year | 10,691 | 13,008 |
Two years before latest fiscal year | 10,800 | 10,330 |
Three years before latest fiscal year | 8,794 | 10,877 |
Four years before latest fiscal year | 8,644 | 5,401 |
Prior | 5,842 | 2,073 |
Revolving Loans Amortized Cost Basis | 693 | 969 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 59,279 | 56,728 |
Current period gross charge-offs | ||
Current fiscal year | 72 | |
Fiscal year before latest fiscal year | 48 | |
Two years before latest fiscal year | 0 | |
Three years before latest fiscal year | 36 | |
Four years before latest fiscal year | 0 | |
Prior | 2 | |
Revolving Loans Amortized Cost Basis | 5 | |
Revolving Loans Converted to Term | 0 | |
Total | 163 | |
Pass | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 275,605 | 1,235,594 |
Fiscal year before latest fiscal year | 1,254,887 | 1,264,279 |
Two years before latest fiscal year | 1,219,137 | 592,002 |
Three years before latest fiscal year | 564,839 | 496,716 |
Four years before latest fiscal year | 474,526 | 368,729 |
Prior | 1,567,275 | 1,317,334 |
Revolving Loans Amortized Cost Basis | 932,287 | 965,422 |
Revolving Loans Converted to Term | 11,337 | 11,869 |
Financing receivable | 6,299,893 | 6,251,945 |
Pass | Commercial and industrial | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 40,481 | 125,710 |
Fiscal year before latest fiscal year | 94,564 | 64,966 |
Two years before latest fiscal year | 61,113 | 17,746 |
Three years before latest fiscal year | 12,857 | 23,131 |
Four years before latest fiscal year | 17,544 | 7,628 |
Prior | 9,489 | 5,051 |
Revolving Loans Amortized Cost Basis | 319,172 | 297,341 |
Revolving Loans Converted to Term | 308 | 483 |
Financing receivable | 555,528 | 542,056 |
Pass | Construction | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 19,561 | 72,840 |
Fiscal year before latest fiscal year | 126,026 | 72,308 |
Two years before latest fiscal year | 66,947 | 43,409 |
Three years before latest fiscal year | 47,431 | 15,358 |
Four years before latest fiscal year | 4,822 | 2,159 |
Prior | 6,572 | 4,900 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 271,359 | 210,974 |
Pass | Agriculture production | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 249 | 3,414 |
Fiscal year before latest fiscal year | 3,154 | 2,777 |
Two years before latest fiscal year | 2,407 | 1,149 |
Three years before latest fiscal year | 882 | 1,104 |
Four years before latest fiscal year | 875 | 8,902 |
Prior | 8,611 | 1,058 |
Revolving Loans Amortized Cost Basis | 35,606 | 38,425 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 51,784 | 56,829 |
Pass | Leases | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 8,582 | 7,726 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 8,582 | 7,726 |
Pass | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 74,480 | 399,910 |
Fiscal year before latest fiscal year | 411,202 | 304,636 |
Two years before latest fiscal year | 287,950 | 152,960 |
Three years before latest fiscal year | 139,902 | 221,659 |
Four years before latest fiscal year | 224,859 | 147,842 |
Prior | 833,291 | 748,994 |
Revolving Loans Amortized Cost Basis | 104,382 | 123,794 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 2,076,066 | 2,099,795 |
Pass | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 43,483 | 210,101 |
Fiscal year before latest fiscal year | 191,817 | 197,787 |
Two years before latest fiscal year | 193,284 | 120,929 |
Three years before latest fiscal year | 122,066 | 64,244 |
Four years before latest fiscal year | 61,481 | 49,755 |
Prior | 284,127 | 251,137 |
Revolving Loans Amortized Cost Basis | 29,719 | 43,343 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 925,977 | 937,296 |
Pass | Multifamily | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 7,578 | 159,318 |
Fiscal year before latest fiscal year | 179,229 | 290,170 |
Two years before latest fiscal year | 280,895 | 96,937 |
Three years before latest fiscal year | 90,198 | 108,586 |
Four years before latest fiscal year | 107,518 | 106,287 |
Prior | 236,312 | 154,125 |
Revolving Loans Amortized Cost Basis | 37,843 | 28,989 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 939,573 | 944,412 |
Pass | Farmland | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 14,477 | 47,067 |
Fiscal year before latest fiscal year | 46,947 | 53,275 |
Two years before latest fiscal year | 46,891 | 16,739 |
Three years before latest fiscal year | 16,295 | 18,589 |
Four years before latest fiscal year | 17,340 | 12,386 |
Prior | 44,959 | 34,528 |
Revolving Loans Amortized Cost Basis | 54,290 | 53,684 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 241,199 | 236,268 |
Pass | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 52,682 | 194,933 |
Fiscal year before latest fiscal year | 191,299 | 265,370 |
Two years before latest fiscal year | 269,009 | 131,922 |
Three years before latest fiscal year | 126,461 | 33,395 |
Four years before latest fiscal year | 31,577 | 28,545 |
Prior | 138,088 | 115,469 |
Revolving Loans Amortized Cost Basis | 0 | 8 |
Revolving Loans Converted to Term | 3,542 | 2,924 |
Financing receivable | 812,658 | 772,566 |
Pass | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 307 | 505 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 110 | 127 |
Revolving Loans Amortized Cost Basis | 350,621 | 378,939 |
Revolving Loans Converted to Term | 7,487 | 8,462 |
Financing receivable | 358,525 | 388,033 |
Pass | Other | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 13,725 | 14,070 |
Fiscal year before latest fiscal year | 10,649 | 12,990 |
Two years before latest fiscal year | 10,641 | 10,211 |
Three years before latest fiscal year | 8,747 | 10,650 |
Four years before latest fiscal year | 8,510 | 5,225 |
Prior | 5,716 | 1,945 |
Revolving Loans Amortized Cost Basis | 654 | 899 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 58,642 | 55,990 |
Special Mention | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 731 | 6,302 |
Fiscal year before latest fiscal year | 15,029 | 17,236 |
Two years before latest fiscal year | 39,634 | 2,109 |
Three years before latest fiscal year | 12,111 | 26,230 |
Four years before latest fiscal year | 24,431 | 3,681 |
Prior | 46,595 | 39,328 |
Revolving Loans Amortized Cost Basis | 16,575 | 31,568 |
Revolving Loans Converted to Term | 572 | 546 |
Financing receivable | 155,678 | 127,000 |
Special Mention | Commercial and industrial | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 658 | 3,032 |
Fiscal year before latest fiscal year | 2,999 | 139 |
Two years before latest fiscal year | 238 | 21 |
Three years before latest fiscal year | 64 | 49 |
Four years before latest fiscal year | 26 | 138 |
Prior | 970 | 768 |
Revolving Loans Amortized Cost Basis | 7,116 | 11,547 |
Revolving Loans Converted to Term | 401 | 0 |
Financing receivable | 12,472 | 15,694 |
Special Mention | Construction | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 6,993 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 6,993 | 0 |
Special Mention | Agriculture production | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 90 |
Prior | 296 | 31 |
Revolving Loans Amortized Cost Basis | 6,399 | 1,632 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 6,695 | 1,753 |
Special Mention | Leases | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Special Mention | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 7,422 | 0 |
Three years before latest fiscal year | 5,450 | 20,033 |
Four years before latest fiscal year | 17,579 | 0 |
Prior | 27,217 | 21,681 |
Revolving Loans Amortized Cost Basis | 1,347 | 1,346 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 59,015 | 43,060 |
Special Mention | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 73 | 131 |
Fiscal year before latest fiscal year | 845 | 16,296 |
Two years before latest fiscal year | 14,981 | 234 |
Three years before latest fiscal year | 3,040 | 731 |
Four years before latest fiscal year | 717 | 0 |
Prior | 6,386 | 6,971 |
Revolving Loans Amortized Cost Basis | 0 | 879 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 26,042 | 25,242 |
Special Mention | Multifamily | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 11,908 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 11,908 | 0 |
Special Mention | Farmland | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 3,139 |
Fiscal year before latest fiscal year | 3,119 | 783 |
Two years before latest fiscal year | 4,986 | 246 |
Three years before latest fiscal year | 326 | 5,000 |
Four years before latest fiscal year | 5,234 | 0 |
Prior | 4,834 | 3,991 |
Revolving Loans Amortized Cost Basis | 736 | 14,275 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 19,235 | 27,434 |
Special Mention | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 1,073 | 0 |
Two years before latest fiscal year | 0 | 1,531 |
Three years before latest fiscal year | 3,214 | 282 |
Four years before latest fiscal year | 815 | 3,277 |
Prior | 6,810 | 5,854 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 34 | 465 |
Financing receivable | 11,946 | 11,409 |
Special Mention | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 959 | 1,842 |
Revolving Loans Converted to Term | 137 | 81 |
Financing receivable | 1,096 | 1,923 |
Special Mention | Other | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 18 |
Two years before latest fiscal year | 99 | 77 |
Three years before latest fiscal year | 17 | 135 |
Four years before latest fiscal year | 60 | 176 |
Prior | 82 | 32 |
Revolving Loans Amortized Cost Basis | 18 | 47 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 276 | 485 |
Substandard | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 90 | 4,506 |
Fiscal year before latest fiscal year | 4,514 | 3,210 |
Two years before latest fiscal year | 5,852 | 13,010 |
Three years before latest fiscal year | 8,609 | 3,221 |
Four years before latest fiscal year | 2,670 | 6,357 |
Prior | 28,696 | 26,409 |
Revolving Loans Amortized Cost Basis | 13,366 | 13,405 |
Revolving Loans Converted to Term | 1,372 | 1,384 |
Financing receivable | 65,169 | 71,502 |
Substandard | Commercial and industrial | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 1,293 |
Fiscal year before latest fiscal year | 1,245 | 1,142 |
Two years before latest fiscal year | 1,703 | 5,179 |
Three years before latest fiscal year | 3,029 | 14 |
Four years before latest fiscal year | 19 | 33 |
Prior | 271 | 611 |
Revolving Loans Amortized Cost Basis | 1,881 | 3,798 |
Revolving Loans Converted to Term | 99 | 101 |
Financing receivable | 8,247 | 12,171 |
Substandard | Construction | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 457 |
Four years before latest fiscal year | 73 | 0 |
Prior | 0 | 129 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 73 | 586 |
Substandard | Agriculture production | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 2,858 | 2,832 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 2,858 | 2,832 |
Substandard | Leases | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Substandard | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 864 |
Two years before latest fiscal year | 791 | 768 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 2,392 | 1,059 |
Prior | 4,670 | 4,179 |
Revolving Loans Amortized Cost Basis | 212 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 8,065 | 6,870 |
Substandard | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 3,213 |
Fiscal year before latest fiscal year | 3,072 | 0 |
Two years before latest fiscal year | 1,176 | 5,249 |
Three years before latest fiscal year | 5,185 | 1,893 |
Four years before latest fiscal year | 112 | 1,103 |
Prior | 10,644 | 10,654 |
Revolving Loans Amortized Cost Basis | 153 | 157 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 20,342 | 22,269 |
Substandard | Multifamily | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 109 | 125 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 109 | 125 |
Substandard | Farmland | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 790 | 1,772 |
Three years before latest fiscal year | 365 | 765 |
Four years before latest fiscal year | 0 | 3,158 |
Prior | 10,458 | 7,094 |
Revolving Loans Amortized Cost Basis | 4,780 | 3,523 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 16,393 | 16,312 |
Substandard | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 155 | 1,204 |
Two years before latest fiscal year | 1,332 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 1,004 |
Prior | 2,500 | 3,521 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 755 | 645 |
Financing receivable | 4,742 | 6,374 |
Substandard | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 3,461 | 3,072 |
Revolving Loans Converted to Term | 518 | 638 |
Financing receivable | 3,979 | 3,710 |
Substandard | Other | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 90 | 0 |
Fiscal year before latest fiscal year | 42 | 0 |
Two years before latest fiscal year | 60 | 42 |
Three years before latest fiscal year | 30 | 92 |
Four years before latest fiscal year | 74 | 0 |
Prior | 44 | 96 |
Revolving Loans Amortized Cost Basis | 21 | 23 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 361 | 253 |
Doubtful/Loss | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | Commercial and industrial | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | Construction | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | Agriculture production | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | Leases | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | Multifamily | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | Farmland | Commercial Real Estate | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | 0 | 0 |
Doubtful/Loss | Other | Consumer | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before latest fiscal year | 0 | 0 |
Two years before latest fiscal year | 0 | 0 |
Three years before latest fiscal year | 0 | 0 |
Four years before latest fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Financing receivable | $ 0 | $ 0 |
Allowance for Credit Losses -_4
Allowance for Credit Losses - Analysis of Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | $ 6,520,740 | $ 6,450,447 |
Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 4,343,924 | 4,359,083 |
Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,252,225 | 1,240,743 |
Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 576,247 | 569,921 |
Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 278,425 | 211,560 |
Agriculture production | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 61,337 | 61,414 |
Leases | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 8,582 | 7,726 |
CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 2,143,146 | 2,149,725 |
CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 972,361 | 984,807 |
Multifamily | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 951,590 | 944,537 |
Farmland | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 276,827 | 280,014 |
SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 829,346 | 790,349 |
SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 363,600 | 393,666 |
Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 59,279 | 56,728 |
Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 6,520,740 | 6,450,447 |
Financial Asset Originated | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 4,343,924 | 4,359,083 |
Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,252,225 | 1,240,743 |
Financial Asset Originated | Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 576,247 | 569,921 |
Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 278,425 | 211,560 |
Financial Asset Originated | Agriculture production | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 61,337 | 61,414 |
Financial Asset Originated | Leases | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 8,582 | 7,726 |
Financial Asset Originated | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 2,143,146 | 2,149,725 |
Financial Asset Originated | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 972,361 | 984,807 |
Financial Asset Originated | Multifamily | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 951,590 | 944,537 |
Financial Asset Originated | Farmland | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 276,827 | 280,014 |
Financial Asset Originated | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 829,346 | 790,349 |
Financial Asset Originated | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 363,600 | 393,666 |
Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 59,279 | 56,728 |
Total Past Due Loans | Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 9,483 | 4,947 |
Total Past Due Loans | Financial Asset Originated | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 2,750 | 332 |
Total Past Due Loans | Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 4,583 | 1,463 |
Total Past Due Loans | Financial Asset Originated | Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,717 | 2,773 |
Total Past Due Loans | Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 400 | 379 |
Total Past Due Loans | Financial Asset Originated | Agriculture production | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 33 | 0 |
Total Past Due Loans | Financial Asset Originated | Leases | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
Total Past Due Loans | Financial Asset Originated | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 651 | 0 |
Total Past Due Loans | Financial Asset Originated | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 441 | 173 |
Total Past Due Loans | Financial Asset Originated | Multifamily | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 159 |
Total Past Due Loans | Financial Asset Originated | Farmland | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,658 | 0 |
Total Past Due Loans | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,591 | 303 |
Total Past Due Loans | Financial Asset Originated | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 2,636 | 1,045 |
Total Past Due Loans | Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 356 | 115 |
30-59 days | Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 3,303 | 2,681 |
30-59 days | Financial Asset Originated | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 645 | 159 |
30-59 days | Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 2,100 | 222 |
30-59 days | Financial Asset Originated | Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 158 | 2,300 |
30-59 days | Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 400 | 0 |
30-59 days | Financial Asset Originated | Agriculture production | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
30-59 days | Financial Asset Originated | Leases | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
30-59 days | Financial Asset Originated | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 304 | 0 |
30-59 days | Financial Asset Originated | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 191 | 0 |
30-59 days | Financial Asset Originated | Multifamily | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 159 |
30-59 days | Financial Asset Originated | Farmland | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 150 | 0 |
30-59 days | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1 | 24 |
30-59 days | Financial Asset Originated | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,918 | 172 |
30-59 days | Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 181 | 26 |
60-89 days | Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 733 | 488 |
60-89 days | Financial Asset Originated | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 98 |
60-89 days | Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 573 | 200 |
60-89 days | Financial Asset Originated | Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 160 | 190 |
60-89 days | Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
60-89 days | Financial Asset Originated | Agriculture production | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
60-89 days | Financial Asset Originated | Leases | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
60-89 days | Financial Asset Originated | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
60-89 days | Financial Asset Originated | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 98 |
60-89 days | Financial Asset Originated | Multifamily | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
60-89 days | Financial Asset Originated | Farmland | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
60-89 days | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 106 | 0 |
60-89 days | Financial Asset Originated | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 391 | 166 |
60-89 days | Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 76 | 34 |
> 90 days | Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 5,447 | 1,778 |
> 90 days | Financial Asset Originated | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 2,105 | 75 |
> 90 days | Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,910 | 1,041 |
> 90 days | Financial Asset Originated | Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,399 | 283 |
> 90 days | Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 379 |
> 90 days | Financial Asset Originated | Agriculture production | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 33 | 0 |
> 90 days | Financial Asset Originated | Leases | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
> 90 days | Financial Asset Originated | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 347 | 0 |
> 90 days | Financial Asset Originated | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 250 | 75 |
> 90 days | Financial Asset Originated | Multifamily | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 0 | 0 |
> 90 days | Financial Asset Originated | Farmland | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,508 | 0 |
> 90 days | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,484 | 279 |
> 90 days | Financial Asset Originated | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 327 | 707 |
> 90 days | Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 99 | 55 |
Current | Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 6,511,257 | 6,445,500 |
Current | Financial Asset Originated | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 4,341,174 | 4,358,751 |
Current | Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 1,247,642 | 1,239,280 |
Current | Financial Asset Originated | Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 574,530 | 567,148 |
Current | Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 278,025 | 211,181 |
Current | Financial Asset Originated | Agriculture production | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 61,304 | 61,414 |
Current | Financial Asset Originated | Leases | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 8,582 | 7,726 |
Current | Financial Asset Originated | CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 2,142,495 | 2,149,725 |
Current | Financial Asset Originated | CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 971,920 | 984,634 |
Current | Financial Asset Originated | Multifamily | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 951,590 | 944,378 |
Current | Financial Asset Originated | Farmland | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 275,169 | 280,014 |
Current | Financial Asset Originated | SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 827,755 | 790,046 |
Current | Financial Asset Originated | SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | 360,964 | 392,621 |
Current | Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable | $ 58,923 | $ 56,613 |
Allowance for Credit Losses -_5
Allowance for Credit Losses - Schedule of Non Accrual Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | $ 25,587 | $ 18,125 |
Non accrual, no allowance including guaranteed loans | 26,385 | 18,230 |
Non accrual including guaranteed loans | 37,592 | 21,321 |
Total non accrual | 36,628 | 21,096 |
Past due 90 days or more and still accruing | 32 | 0 |
Loans Insured or Guaranteed by US Government Authorities | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 798 | 105 |
Total non accrual | 964 | 225 |
Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 13,024 | 8,574 |
Total non accrual | 22,441 | 8,574 |
Past due 90 days or more and still accruing | 0 | 0 |
Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 6,354 | 6,662 |
Total non accrual | 7,011 | 7,459 |
Past due 90 days or more and still accruing | 0 | 0 |
Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 6,371 | 1,224 |
Total non accrual | 7,504 | 3,518 |
Past due 90 days or more and still accruing | 32 | 0 |
Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 73 | 491 |
Total non accrual | 73 | 491 |
Past due 90 days or more and still accruing | 0 | 0 |
Agriculture production | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 563 | 1,279 |
Total non accrual | 563 | 1,279 |
Past due 90 days or more and still accruing | 0 | 0 |
Leases | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 0 | 0 |
Total non accrual | 0 | 0 |
Past due 90 days or more and still accruing | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 1,230 | 1,739 |
Total non accrual | 1,230 | 1,739 |
Past due 90 days or more and still accruing | 0 | 0 |
CRE owner occupied | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 9,090 | 4,938 |
Total non accrual | 18,871 | 4,938 |
Past due 90 days or more and still accruing | 0 | 0 |
Multifamily | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 110 | 125 |
Total non accrual | 110 | 125 |
Past due 90 days or more and still accruing | 0 | 0 |
Farmland | Commercial Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 2,594 | 1,772 |
Total non accrual | 2,230 | 1,772 |
Past due 90 days or more and still accruing | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 3,082 | 4,117 |
Total non accrual | 3,393 | 4,220 |
Past due 90 days or more and still accruing | 0 | 0 |
SFR HELOCs and junior liens | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 3,182 | 2,498 |
Total non accrual | 3,489 | 3,155 |
Past due 90 days or more and still accruing | 0 | 0 |
Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 90 | 47 |
Total non accrual | 129 | 84 |
Past due 90 days or more and still accruing | $ 0 | $ 0 |
Allowance for Credit Losses -_6
Allowance for Credit Losses - Amortized Cost Basis of Collateral Dependent Loans, By Class of Loan (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | $ 6,520,740 | $ 6,450,447 |
Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 641 | 1,325 |
Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 379 | 173 |
Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 1,103 |
Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 19,085 | 6,334 |
Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 109 | 125 |
Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 2,594 | 1,772 |
SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 5,425 | 5,996 |
SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 1,224 | 1,121 |
Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 91 | 61 |
A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 6,651 | 1,596 |
Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 1,442 | 1,329 |
Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 37,641 | 20,935 |
Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 4,343,924 | 4,359,083 |
Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 641 | 1,325 |
Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 379 | 173 |
Commercial Real Estate | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 1,103 |
Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 19,082 | 4,076 |
Commercial Real Estate | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 109 | 125 |
Commercial Real Estate | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 2,594 | 1,772 |
Commercial Real Estate | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 22,805 | 8,574 |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 1,252,225 | 1,240,743 |
Consumer | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Consumer | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Consumer | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 3 | 5 |
Consumer | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Consumer | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Consumer | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 5,352 | 5,884 |
Consumer | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 1,224 | 1,121 |
Consumer | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 91 | 61 |
Consumer | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Consumer | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 26 | 2 |
Consumer | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 6,696 | 7,073 |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 576,247 | 569,921 |
Commercial and industrial | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial and industrial | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial and industrial | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial and industrial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 1,874 |
Commercial and industrial | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial and industrial | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial and industrial | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial and industrial | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial and industrial | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial and industrial | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 6,651 | 1,596 |
Commercial and industrial | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 853 | 48 |
Commercial and industrial | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 7,504 | 3,518 |
Construction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 278,425 | 211,560 |
Construction | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 379 |
Construction | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 73 | 112 |
Construction | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 73 | 491 |
Agriculture production | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 61,337 | 61,414 |
Agriculture production | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Agriculture production | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 563 | 1,279 |
Agriculture production | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 563 | 1,279 |
Leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 8,582 | 7,726 |
Leases | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Leases | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 2,143,146 | 2,149,725 |
CRE non-owner occupied | Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 136 | 777 |
CRE non-owner occupied | Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 304 | 98 |
CRE non-owner occupied | Commercial Real Estate | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 791 | 864 |
CRE non-owner occupied | Commercial Real Estate | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE non-owner occupied | Commercial Real Estate | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 1,231 | 1,739 |
CRE owner occupied | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 972,361 | 984,807 |
CRE owner occupied | Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 505 | 548 |
CRE owner occupied | Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 75 | 75 |
CRE owner occupied | Commercial Real Estate | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 1,103 |
CRE owner occupied | Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 18,291 | 3,212 |
CRE owner occupied | Commercial Real Estate | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE owner occupied | Commercial Real Estate | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE owner occupied | Commercial Real Estate | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE owner occupied | Commercial Real Estate | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE owner occupied | Commercial Real Estate | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE owner occupied | Commercial Real Estate | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE owner occupied | Commercial Real Estate | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
CRE owner occupied | Commercial Real Estate | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 18,871 | 4,938 |
Multifamily | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 951,590 | 944,537 |
Multifamily | Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 109 | 125 |
Multifamily | Commercial Real Estate | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Commercial Real Estate | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 109 | 125 |
Farmland | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 276,827 | 280,014 |
Farmland | Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 2,594 | 1,772 |
Farmland | Commercial Real Estate | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland | Commercial Real Estate | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 2,594 | 1,772 |
SFR 1-4 1st DT liens | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 829,346 | 790,349 |
SFR 1-4 1st DT liens | Consumer | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 3,394 | 4,220 |
SFR 1-4 1st DT liens | Consumer | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR 1-4 1st DT liens | Consumer | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 3,394 | 4,220 |
SFR HELOCs and junior liens | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 363,600 | 393,666 |
SFR HELOCs and junior liens | Consumer | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR HELOCs and junior liens | Consumer | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR HELOCs and junior liens | Consumer | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR HELOCs and junior liens | Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR HELOCs and junior liens | Consumer | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR HELOCs and junior liens | Consumer | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR HELOCs and junior liens | Consumer | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 1,958 | 1,664 |
SFR HELOCs and junior liens | Consumer | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 1,224 | 1,121 |
SFR HELOCs and junior liens | Consumer | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR HELOCs and junior liens | Consumer | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR HELOCs and junior liens | Consumer | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
SFR HELOCs and junior liens | Consumer | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 3,182 | 2,785 |
Other | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 59,279 | 56,728 |
Other | Consumer | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Other | Consumer | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Other | Consumer | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Other | Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 3 | 5 |
Other | Consumer | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Other | Consumer | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Other | Consumer | SFR-1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Other | Consumer | SFR-2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Other | Consumer | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 91 | 61 |
Other | Consumer | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Other | Consumer | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 26 | 2 |
Other | Consumer | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | $ 120 | $ 68 |
Allowance for Credit Losses -_7
Allowance for Credit Losses - Amortized Cost Basis of Loans Experiencing Financial difficulty and Modified (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2023 USD ($) | Jun. 30, 2023 USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 177 | $ 177 |
Total % of Loans Outstanding (Percentage) | 0.03% | 0.03% |
Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Commercial Real Estate | CRE non-owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Commercial Real Estate | CRE owner occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Commercial Real Estate | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Commercial Real Estate | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Consumer | SFR 1-4 1st DT liens | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Consumer | SFR HELOCs and junior liens | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 177 | $ 177 |
Total % of Loans Outstanding (Percentage) | 0.03% | 0.03% |
Weighted average term extension | 12 months | 12 months |
Construction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Agriculture production | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Payment Delay/Term Extension | $ 0 | $ 0 |
Total % of Loans Outstanding (Percentage) | 0% | 0% |
Leases - Additional Information
Leases - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2023 renewalOption | |
Leases [Abstract] | |
Number of lease renewal options (in renewal options) | 1 |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Leases [Abstract] | ||||
Operating lease cost | $ 1,493 | $ 1,469 | $ 3,102 | $ 2,788 |
Short-term lease cost | 118 | 80 | 236 | 133 |
Variable lease cost | 9 | 7 | 21 | 9 |
Sublease income | 0 | 0 | 0 | 0 |
Total lease cost | $ 1,620 | $ 1,556 | $ 3,359 | $ 2,930 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Leases [Abstract] | ||||
Operating cash flows for operating leases | $ 1,611 | $ 1,523 | $ 3,264 | $ 2,815 |
ROUA obtained in exchange for operating lease liabilities | $ 370 | $ 0 | $ 4,855 | $ 3,867 |
Leases - Weighted Average Opera
Leases - Weighted Average Operating Lease Term And Discount Rate (Detail) | Jun. 30, 2023 | Jun. 30, 2022 |
Leases [Abstract] | ||
Weighted-average remaining lease term (years) | 8 years 1 month 6 days | 8 years 8 months 12 days |
Weighted-average discount rate | 3.29% | 2.91% |
Leases - Future Minimum Rental
Leases - Future Minimum Rental Payments For Operating Leases (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Leases [Abstract] | ||
2023 | $ 3,073 | |
2024 | 5,879 | |
2025 | 5,311 | |
2026 | 4,770 | |
2027 | 4,083 | |
Thereafter | 13,093 | |
Total | 36,209 | |
Discount for present value of expected cash flows | (4,832) | |
Lease liability at june 30, 2023 | $ 31,377 | $ 29,004 |
Deposits - Summary of Balances
Deposits - Summary of Balances of Deposits (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Deposits [Abstract] | ||
Noninterest-bearing demand | $ 3,073,353 | $ 3,502,095 |
Interest-bearing demand | 1,752,086 | 1,718,541 |
Savings | 2,778,118 | 2,884,378 |
Time certificates, $250,000 or more | 125,244 | 46,350 |
Other time certificates | 366,564 | 177,649 |
Total deposits | $ 8,095,365 | $ 8,329,013 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Deposits [Abstract] | ||
Overdrawn deposit balances classified as consumer loans | $ 1.3 | $ 1.8 |
Subordinated Debentures - Addit
Subordinated Debentures - Additional Information (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2023 USD ($) | |
Borrowings Due October 2023. | |
Class of Stock [Line Items] | |
Long-Term Debt, Gross | $ 150 |
Interest rate | 5.11% |
Borrowings Due April 2024 | |
Class of Stock [Line Items] | |
Long-Term Debt, Gross | $ 200 |
Interest rate | 4.75% |
VRB Subordinated - 6% | Subordinated Debt | |
Class of Stock [Line Items] | |
Interest rate | 6% |
Current Coupon Rate | 6% |
VRB Subordinated - 6% | LIBOR PLUS | Subordinated Debt | |
Class of Stock [Line Items] | |
Basis spread on variable rate | 3.50% |
VRB Subordinated - 5% | Subordinated Debt | |
Class of Stock [Line Items] | |
Interest rate | 5% |
Current Coupon Rate | 5% |
VRB Subordinated - 5% | LIBOR PLUS | Subordinated Debt | |
Class of Stock [Line Items] | |
Basis spread on variable rate | 4.90% |
Subordinated Debentures - Summa
Subordinated Debentures - Summary of Terms and Recorded Balance of Subordinated Debenture (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Subordinated Borrowing [Line Items] | ||
Recorded Book Value | $ 101,065 | $ 101,040 |
Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Face Value | 98,889 | |
TriCo Cap Trust I | ||
Subordinated Borrowing [Line Items] | ||
Recorded Book Value | 20,619 | 20,619 |
TriCo Cap Trust I | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Face Value | $ 20,619 | |
Current Coupon Rate | 8.31% | |
TriCo Cap Trust II | ||
Subordinated Borrowing [Line Items] | ||
Recorded Book Value | $ 20,619 | 20,619 |
TriCo Cap Trust II | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Face Value | $ 20,619 | |
Current Coupon Rate | 7.82% | |
North Valley Trust II | ||
Subordinated Borrowing [Line Items] | ||
Recorded Book Value | $ 5,551 | 5,503 |
North Valley Trust II | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Face Value | $ 6,186 | |
Current Coupon Rate | 8.55% | |
North Valley Trust III | ||
Subordinated Borrowing [Line Items] | ||
Recorded Book Value | $ 4,426 | 4,383 |
North Valley Trust III | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Face Value | $ 5,155 | |
Current Coupon Rate | 8.07% | |
North Valley Trust IV | ||
Subordinated Borrowing [Line Items] | ||
Recorded Book Value | $ 7,502 | 7,393 |
North Valley Trust IV | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Face Value | $ 10,310 | |
Current Coupon Rate | 6.88% | |
VRB Subordinated - 6% | ||
Subordinated Borrowing [Line Items] | ||
Recorded Book Value | $ 17,093 | 17,187 |
VRB Subordinated - 6% | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Interest rate | 6% | |
Face Value | $ 16,000 | |
Current Coupon Rate | 6% | |
VRB Subordinated - 5% | ||
Subordinated Borrowing [Line Items] | ||
Recorded Book Value | $ 25,255 | $ 25,336 |
VRB Subordinated - 5% | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Interest rate | 5% | |
Face Value | $ 20,000 | |
Current Coupon Rate | 5% | |
LIBOR PLUS | TriCo Cap Trust I | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Coupon Rate (Variable) 3 mo. LIBOR + | 3.05% | |
LIBOR PLUS | TriCo Cap Trust II | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Coupon Rate (Variable) 3 mo. LIBOR + | 2.55% | |
LIBOR PLUS | North Valley Trust II | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Coupon Rate (Variable) 3 mo. LIBOR + | 3.25% | |
LIBOR PLUS | North Valley Trust III | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Coupon Rate (Variable) 3 mo. LIBOR + | 2.80% | |
LIBOR PLUS | North Valley Trust IV | Subordinated Debt | ||
Subordinated Borrowing [Line Items] | ||
Coupon Rate (Variable) 3 mo. LIBOR + | 1.33% |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Bank's Commitments and Contingent Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | ||
Real estate construction loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 371,943 | 312,371 |
Real estate mortgage loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 487,346 | 458,896 |
Standby letters of credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 26,916 | 26,599 |
Commercial loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 764,278 | 656,705 |
Consumer loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 701,542 | 760,588 |
Deposit account overdraft privilege | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | $ 125,067 | $ 126,634 |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Feb. 25, 2021 | |
Class of Stock [Line Items] | |||||
Cash dividends received | $ 11,600 | $ 27,700 | $ 29,800 | $ 35,500 | |
Repurchase of common stock | $ 1,479 | $ 22,530 | 9,074 | 22,586 | |
Market value of shares repurchased under equity compensation plans | $ 2,100 | $ 829 | |||
Employee Stock | |||||
Class of Stock [Line Items] | |||||
Company's common stock in lieu of cash to exercise options to purchase shares (in shares) | 2,506 | 3,687 | 2,506 | 5,019 | |
Other Share Based Awards | |||||
Class of Stock [Line Items] | |||||
Company's common stock in lieu of cash to exercise options to purchase shares (in shares) | 39,080 | 14,007 | 51,461 | 14,007 | |
2021 Stock Repurchase Plan | |||||
Class of Stock [Line Items] | |||||
Repurchase of common stock (in shares) | 2,000,000 | ||||
Stock repurchase program, percentage of common stock | 6.70% | ||||
Repurchase of common stock (in shares) | 0 | 526,749 | 150,000 | 526,749 | |
Repurchase of common stock | $ 0 | $ 21,750 | $ 6,974 | $ 21,750 | |
Common Stock | |||||
Class of Stock [Line Items] | |||||
Repurchase of common stock (in shares) | 41,586 | 544,443 | 203,967 | 545,775 | |
Repurchase of common stock | $ 871 | $ 11,362 | $ 4,270 | $ 11,386 | |
Market value of shares repurchased under equity compensation plans | $ 1,500 | $ 800 | $ 2,100 | $ 800 |
Stock Options and Other Equit_3
Stock Options and Other Equity-Based Incentive Instruments - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Apr. 16, 2019 | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Weighted-average remaining contractual term (in years) | 2 years 3 months 18 days | ||
Number of units released (in shares) | 0 | ||
Number of units increased (in shares) | 186,036 | ||
Restricted Stock Units (RSUs) | Service Condition Vesting RSUs | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Number of units outstanding expected to vest (in shares) | 156,421 | 139,194 | |
Pre-tax compensation costs | $ 5.5 | ||
Number of units released (in shares) | 67,786 | ||
Restricted Stock Units (RSUs) | Market Plus Service Condition Vesting RSUs | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Number of units outstanding expected to vest (in shares) | 124,024 | 114,481 | |
Weighted-average remaining contractual term (in years) | 2 years 4 months 24 days | ||
Pre-tax compensation costs | $ 3 | ||
Number of units released (in shares) | 55,928 | ||
2019 Plan | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Aggregate number of shares of TriCo's common stock issued (in shares) | 1,500,000 |
Stock Options and Other Equit_4
Stock Options and Other Equity-Based Incentive Instruments - Stock Option Activity (Detail) | 6 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Options outstanding at beginning of period (in shares) | shares | 15,500 |
Options granted (in shares) | shares | 0 |
Options exercised (in shares) | shares | (8,000) |
Options forfeited (in shares) | shares | 0 |
Options outstanding at end of period (in shares) | shares | 7,500 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |
Weighted Average Exercise Price at beginning of period (in USD per share) | $ / shares | $ 21.27 |
Weighted Average Exercise Price of Options Granted (in USD per share) | $ / shares | 0 |
Weighted Average Exercise Price of Options Exercised (in USD per share) | $ / shares | 19.46 |
Weighted Average Exercise Price of Options Forfeited (in USD per share) | $ / shares | 0 |
Weighted Average Exercise Price at end of period (in USD per share) | $ / shares | $ 23.21 |
Stock Options and Other Equit_5
Stock Options and Other Equity-Based Incentive Instruments - Summary of Options Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Number of options (in shares) | 7,500 | 15,500 |
Weighted average exercise price (in USD per share) | $ 23.21 | $ 21.27 |
Intrinsic value (in thousands) | $ 75 | |
Weighted average remaining contractual term (in years) | 1 year 3 months 18 days | |
Currently Exercisable | ||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Number of options (in shares) | 7,500 | |
Weighted average exercise price (in USD per share) | $ 23.21 | |
Intrinsic value (in thousands) | $ 75 | |
Weighted average remaining contractual term (in years) | 1 year 3 months 18 days | |
Currently Not Exercisable | ||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Number of options (in shares) | 0 | |
Weighted average exercise price (in USD per share) | $ 0 | |
Intrinsic value (in thousands) | $ 0 | |
Weighted average remaining contractual term (in years) | 0 years |
Stock Options and Other Equit_6
Stock Options and Other Equity-Based Incentive Instruments - Restricted Stock Unit (RSU) Activity (Detail) | 6 Months Ended |
Jun. 30, 2023 shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
RSUs released (in shares) | 0 |
Restricted Stock Units (RSUs) | Service Condition Vesting RSUs | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Outstanding at beginning of period (in shares) | 139,194 |
RSUs granted (in shares) | 83,200 |
RSUs added through dividend and performance credits (in shares) | 2,263 |
RSUs released (in shares) | (67,786) |
RSUs forfeited/expired (in shares) | (450) |
Outstanding at end of period (in shares) | 156,421 |
Restricted Stock Units (RSUs) | Market Plus Service Condition Vesting RSUs | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Outstanding at beginning of period (in shares) | 114,481 |
RSUs granted (in shares) | 65,911 |
RSUs added through dividend and performance credits (in shares) | 0 |
RSUs released (in shares) | (55,928) |
RSUs forfeited/expired (in shares) | (440) |
Outstanding at end of period (in shares) | 124,024 |
Non-interest Income and Expen_3
Non-interest Income and Expense - Components of Non-Interest Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Schedule Of Other Noninterest Income And Expense [Line Items] | ||||
Total service charges and fees | $ 12,968 | $ 13,044 | $ 24,165 | $ 24,740 |
Increase in cash value of life insurance | 788 | 752 | 1,590 | 1,390 |
Asset management and commission income | 1,158 | 1,039 | 2,092 | 1,926 |
Gain on sale of loans | 295 | 542 | 501 | 1,788 |
Lease brokerage income | 74 | 238 | 172 | 396 |
Sale of customer checks | 407 | 441 | 695 | 545 |
Loss on sale of investment securities | 0 | 0 | (164) | 0 |
(Loss) gain on marketable equity securities | (42) | (94) | 0 | (231) |
Other | 93 | 468 | 325 | 972 |
Total other non-interest income | 2,773 | 3,386 | 5,211 | 6,786 |
Total non-interest income | 15,741 | 16,430 | 29,376 | 31,526 |
ATM and interchange fees | ||||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||||
Total service charges and fees | 6,856 | 6,984 | 13,200 | 13,227 |
Service charges on deposit accounts | ||||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||||
Total service charges and fees | 4,581 | 4,163 | 8,012 | 7,997 |
Other service fees | ||||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||||
Total service charges and fees | 992 | 1,279 | 2,158 | 2,161 |
Mortgage banking service fees | ||||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||||
Total service charges and fees | 454 | 482 | 919 | 945 |
Change in value of mortgage servicing rights | ||||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||||
Total service charges and fees | $ 85 | $ 136 | $ (124) | $ 410 |
Non-interest Income and Expen_4
Non-interest Income and Expense - Components of Non Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Other Income and Expenses [Abstract] | ||||
Base salaries, net of deferred loan origination costs | $ 24,059 | $ 22,169 | $ 47,059 | $ 40,385 |
Incentive compensation | 4,377 | 4,282 | 7,272 | 6,865 |
Benefits and other compensation costs | 6,278 | 6,491 | 12,946 | 12,463 |
Total salaries and benefits expense | 34,714 | 32,942 | 67,277 | 59,713 |
Occupancy | 3,991 | 3,996 | 8,151 | 7,571 |
Data processing and software | 4,638 | 3,596 | 8,670 | 7,109 |
Equipment | 1,436 | 1,453 | 2,819 | 2,786 |
Intangible amortization | 1,656 | 1,702 | 3,312 | 2,930 |
Advertising | 1,016 | 818 | 1,775 | 1,455 |
ATM and POS network charges | 1,902 | 1,781 | 3,611 | 3,156 |
Professional fees | 1,985 | 1,233 | 3,574 | 2,109 |
Telecommunications | 809 | 564 | 1,404 | 1,085 |
Regulatory assessments and insurance | 1,993 | 779 | 2,785 | 1,499 |
Merger and acquisition expense | 0 | 2,221 | 0 | 6,253 |
Postage | 311 | 313 | 610 | 541 |
Operational losses | 1,090 | 456 | 1,525 | 273 |
Courier service | 483 | 486 | 822 | 900 |
Gain on sale or acquisition of foreclosed assets | 0 | (98) | 0 | (98) |
Gain on disposal of fixed assets | 18 | 5 | 18 | (1,073) |
Other miscellaneous expense | 5,201 | 4,017 | 8,684 | 6,502 |
Total other non-interest expense | 26,529 | 23,322 | 47,760 | 42,998 |
Total non-interest expense | $ 61,243 | $ 56,264 | $ 115,037 | $ 102,711 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 24,892 | $ 31,364 | $ 60,725 | $ 51,738 |
Average number of common shares outstanding (in shares) | 33,219 | 33,561 | 33,257 | 31,815 |
Effect of dilutive stock options and restricted stock (in shares) | 83 | 144 | 114 | 148 |
Average number of common shares outstanding used to calculate diluted earnings per share (in shares) | 33,302 | 33,705 | 33,371 | 31,963 |
Options excluded from diluted earnings per share because of their antidilutive effect (in shares) | 0 | 0 | 0 | 0 |
Comprehensive Income (Loss) - C
Comprehensive Income (Loss) - Components of Other Comprehensive Income (Loss) and Related Tax Effects (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other comprehensive income (loss) | $ (11,915) | $ (68,611) | $ 12,529 | $ (146,950) |
Unrealized holding gains (losses) on available for sale securities before reclassifications | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
OCI, before reclassifications, before tax | (16,916) | (97,408) | 17,624 | (208,710) |
Reclassifications, before tax | 0 | 0 | 164 | 0 |
OCI, after reclassifications, before tax | (16,916) | (97,408) | 17,788 | (208,710) |
Tax effect | 5,001 | 28,797 | (5,259) | 61,702 |
Other comprehensive income (loss) | (11,915) | (68,611) | 12,529 | (147,008) |
Unfunded status of the supplemental retirement plans | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
OCI, before reclassifications, before tax | 114 | 29 | 228 | 92 |
Reclassifications, before tax | (114) | (5) | (228) | (10) |
OCI, after reclassifications, before tax | 0 | 24 | 0 | 82 |
Tax effect | 0 | (24) | 0 | (24) |
Other comprehensive income (loss) | 0 | 0 | 0 | 58 |
Amortization of prior service cost | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Reclassifications, before tax | 0 | (7) | 0 | (14) |
Amortization of actuarial losses | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Reclassifications, before tax | (114) | 2 | (228) | 4 |
Joint beneficiary agreement liability | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
OCI, before reclassifications, net of tax | $ 0 | $ 0 | $ 0 | $ 0 |
Comprehensive Income (Loss) -_2
Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income, net of tax | $ (181,376) | $ (193,905) |
Net unrealized gain on available for sale securities | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income, before tax | (272,761) | (290,549) |
Accumulated other comprehensive income, tax effect | 80,638 | 85,897 |
Accumulated other comprehensive income, net of tax | (192,123) | (204,652) |
Unfunded status of the supplemental retirement plans | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income, before tax | 13,901 | 13,901 |
Accumulated other comprehensive income, tax effect | (4,110) | (4,110) |
Accumulated other comprehensive income, net of tax | 9,791 | 9,791 |
Joint beneficiary agreement liability | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income, before tax | 956 | 956 |
Accumulated other comprehensive income, tax effect | 0 | 0 |
Accumulated other comprehensive income, net of tax | $ 956 | $ 956 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2023 USD ($) investmentSecurity | |
Fair Value Disclosures [Abstract] | |
Number of investment securities classified as level 3 (in investment securities) | investmentSecurity | 0 |
Carrying value of loans fully charged-off | $ | $ 0 |
Fair Value Measurement - Record
Fair Value Measurement - Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value Measurements on Recurring Basis - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 2,330,810 | $ 2,463,594 |
Marketable equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,598 | 2,598 |
Obligations of U.S. government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,309,424 | 1,372,769 |
Obligations of states and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 275,651 | 293,205 |
Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 5,501 | 5,751 |
Asset backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 453,467 | 439,767 |
Non-agency mortgage backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 276,370 | 340,946 |
Loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,058 | 1,846 |
Mortgage servicing rights | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 6,741 | 6,712 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,598 | 2,598 |
Level 1 | Marketable equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,598 | 2,598 |
Level 1 | Obligations of U.S. government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 1 | Obligations of states and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 1 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 1 | Asset backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 1 | Non-agency mortgage backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | ||
Level 1 | Loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 1 | Mortgage servicing rights | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,321,471 | 2,454,284 |
Level 2 | Marketable equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 2 | Obligations of U.S. government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,309,424 | 1,372,769 |
Level 2 | Obligations of states and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 275,651 | 293,205 |
Level 2 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 5,501 | 5,751 |
Level 2 | Asset backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 453,467 | 439,767 |
Level 2 | Non-agency mortgage backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 276,370 | 340,946 |
Level 2 | Loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,058 | 1,846 |
Level 2 | Mortgage servicing rights | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 6,741 | 6,712 |
Level 3 | Marketable equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 3 | Obligations of U.S. government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 3 | Obligations of states and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 3 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 3 | Asset backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 3 | Non-agency mortgage backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | ||
Level 3 | Loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 3 | Mortgage servicing rights | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 6,741 | $ 6,712 |
Fair Value Measurement - Reconc
Fair Value Measurement - Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis (Detail) - Mortgage servicing rights - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | $ 6,553 | $ 6,405 |
Transfers into (out of) Level 3 | 0 | |
Change Included in Earnings | 84 | 136 |
Issuances | 104 | 126 |
Ending Balance | $ 6,741 | $ 6,667 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information about Recurring Level 3 Fair Value Measurements (Detail) - Mortgage servicing rights $ in Thousands | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Mortgages servicing rights, fair value | $ 6,741 | $ 6,712 |
Minimum | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.06 | 0.07 |
Minimum | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.10 | 0.10 |
Maximum | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.12 | 0.136 |
Maximum | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.14 | 0.14 |
Weighted Average | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.078 | 0.076 |
Weighted Average | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.12 | 0.12 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Losses from Fair Value Adjustments Assets and Liabilities | $ (7,279) | $ (98) | $ (7,556) | $ (1,007) | |
Individually evaluated loans | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 3,730 | 3,730 | $ 5,719 | ||
Fair Value Nonrecurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 5,179 | 5,179 | 6,030 | ||
Fair Value Nonrecurring Basis | Individually evaluated loans | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 3,730 | 3,730 | 5,719 | ||
Losses from Fair Value Adjustments Assets and Liabilities | (6,754) | (7,031) | |||
Fair Value Nonrecurring Basis | Foreclosed assets | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 1,449 | 1,449 | 311 | ||
Losses from Fair Value Adjustments Assets and Liabilities | (525) | (525) | |||
Fair Value Nonrecurring Basis | Level 1 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 0 | 0 | 0 | ||
Fair Value Nonrecurring Basis | Level 1 | Individually evaluated loans | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 0 | 0 | 0 | ||
Losses from Fair Value Adjustments Assets and Liabilities | 0 | (615) | |||
Fair Value Nonrecurring Basis | Level 1 | Foreclosed assets | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 0 | 0 | 0 | ||
Losses from Fair Value Adjustments Assets and Liabilities | $ (98) | $ (392) | |||
Fair Value Nonrecurring Basis | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 0 | 0 | 0 | ||
Fair Value Nonrecurring Basis | Level 2 | Individually evaluated loans | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 0 | 0 | 0 | ||
Fair Value Nonrecurring Basis | Level 2 | Foreclosed assets | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 0 | 0 | 0 | ||
Fair Value Nonrecurring Basis | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 5,179 | 5,179 | 6,030 | ||
Fair Value Nonrecurring Basis | Level 3 | Individually evaluated loans | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | 3,730 | 3,730 | 5,719 | ||
Fair Value Nonrecurring Basis | Level 3 | Foreclosed assets | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total assets measured at fair value | $ 1,449 | $ 1,449 | $ 311 |
Fair Value Measurement - Quan_2
Fair Value Measurement - Quantitative Information about (Level 3) Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Individually evaluated loans | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 3,730 | $ 5,719 |
Foreclosed assets (Residential real estate) | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 1,449 | $ 311 |
Fair Value Measurement - Estima
Fair Value Measurement - Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets (Detail) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Financial assets: | ||
Cash and due from banks | $ 93,485,000 | $ 96,323,000 |
Cash at Federal Reserve and other banks | 25,307,000 | 10,907,000 |
Securities held to maturity | 145,117,000 | 160,983,000 |
Restricted equity securities | 0 | 0 |
Financial liabilities: | ||
Other borrowings | 392,714,000 | 264,605,000 |
Junior subordinated debt | 101,065,000 | 101,040,000 |
Level 3 | Overdraft Privilege Commitments | ||
Off-balance sheet: | ||
Contract Amount | 125,067,000 | 126,634,000 |
Level 3 | Standby letters of credit | ||
Off-balance sheet: | ||
Contract Amount | 26,916,000 | 26,599,000 |
Level 3 | Commitments | ||
Off-balance sheet: | ||
Contract Amount | 2,325,109,000 | 2,188,560,000 |
Carrying Amount | Level 1 | ||
Financial assets: | ||
Cash and due from banks | 93,485,000 | 96,323,000 |
Cash at Federal Reserve and other banks | 25,307,000 | 10,907,000 |
Carrying Amount | Level 2 | ||
Financial assets: | ||
Securities held to maturity | 145,117,000 | 160,983,000 |
Restricted equity securities | 17,250,000 | 17,250,000 |
Financial liabilities: | ||
Deposits | 8,095,365,000 | 8,329,013,000 |
Other borrowings | 392,714,000 | 264,605,000 |
Carrying Amount | Level 3 | ||
Financial assets: | ||
Loans, net | 6,403,411,000 | 6,344,767,000 |
Financial liabilities: | ||
Junior subordinated debt | 101,065,000 | 101,040,000 |
Fair Value | Level 1 | ||
Financial assets: | ||
Cash and due from banks | 93,485,000 | 96,323,000 |
Cash at Federal Reserve and other banks | 25,307,000 | 10,907,000 |
Fair Value | Level 2 | ||
Financial assets: | ||
Securities held to maturity | 134,409,000 | 149,938,000 |
Financial liabilities: | ||
Deposits | 8,087,270,000 | 8,321,517,000 |
Other borrowings | 392,714,000 | 264,605,000 |
Fair Value | Level 3 | ||
Financial assets: | ||
Loans, net | 6,103,731,000 | 6,153,155,000 |
Financial liabilities: | ||
Junior subordinated debt | 94,425,000 | 92,613,000 |
Fair Value | Level 3 | Overdraft Privilege Commitments | ||
Off-balance sheet: | ||
Fair Value | 1,250,000 | 1,266,000 |
Fair Value | Level 3 | Standby letters of credit | ||
Off-balance sheet: | ||
Fair Value | 269,000 | 266,000 |
Fair Value | Level 3 | Commitments | ||
Off-balance sheet: | ||
Fair Value | $ 23,251,000 | $ 21,886,000 |
Regulatory Matters - Actual and
Regulatory Matters - Actual and Required Capital Ratios of Bank (Detail) $ in Thousands | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Consolidated | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets) | $ 1,152,530 | $ 1,115,257 |
Tier 1 Capital (to Risk Weighted Assets) | 1,010,295 | 974,325 |
Common Equity Tier 1 Capital (to Risk Weighted Assets) | 953,407 | 917,565 |
Tier 1 Capital (to Average Assets) | $ 1,010,295 | $ 974,325 |
Total Capital Ratio (to Risk Weighted Assets) | 0.1447 | 0.1419 |
Tier 1 Capital Ratio (to Risk Weighted Assets) | 0.1269 | 0.1240 |
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets) | 0.1197 | 0.1167 |
Tier 1 Capital Ratio (to Average Assets) | 0.1041 | 0.1014 |
Consolidated | Basel III Fully Phased In | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement | $ 836,038 | $ 825,234 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement | 676,793 | 668,047 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement | 557,359 | 550,156 |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement | $ 388,260 | $ 384,337 |
Total Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 0.1050 | 0.1050 |
Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 0.0850 | 0.0850 |
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 7% | 7% |
Tier 1 Capital Ratio (to Average Assets), Minimum Capital Requirement | 0.0400 | 0.0400 |
Tri Counties Bank | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets) | $ 1,147,002 | $ 1,107,941 |
Tier 1 Capital (to Risk Weighted Assets) | 1,047,217 | 1,009,577 |
Common Equity Tier 1 Capital (to Risk Weighted Assets) | 1,047,217 | 1,009,577 |
Tier 1 Capital (to Average Assets) | $ 1,047,217 | $ 1,009,577 |
Total Capital Ratio (to Risk Weighted Assets) | 0.1441 | 0.1410 |
Tier 1 Capital Ratio (to Risk Weighted Assets) | 0.1316 | 0.1285 |
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets) | 0.1316 | 0.1285 |
Tier 1 Capital Ratio (to Average Assets) | 0.1079 | 0.1051 |
Total Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions | $ 796,041 | $ 785,751 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 0.1000 | 0.1000 |
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions | $ 636,833 | $ 628,601 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 0.0800 | 0.0800 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions | $ 517,427 | $ 510,738 |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Tier 1 Capital (to Average Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions | $ 485,271 | $ 480,183 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.0500 | 0.0500 |
Tri Counties Bank | Basel III Fully Phased In | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement | $ 835,843 | $ 825,039 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement | 676,635 | 667,888 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement | 557,229 | 550,026 |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement | $ 388,217 | $ 384,146 |
Total Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 0.1050 | 0.1050 |
Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 0.0850 | 0.0850 |
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 7% | 7% |
Tier 1 Capital Ratio (to Average Assets), Minimum Capital Requirement | 0.0400 | 0.0400 |