Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 05, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | FIRST MID BANCSHARES, INC. | |
Entity Central Index Key | 0000700565 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 18,088,455 | |
Entity Shell Company | false | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | FMBH | |
Security Exchange Name | NASDAQ | |
Entity File Number | 001-36434 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 37-1103704 | |
Entity Address, Address Line One | 1421 Charleston Avenue | |
Entity Address, City or Town | Mattoon | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 61938 | |
City Area Code | 217 | |
Local Phone Number | 234-7454 | |
Document Quarterly Report | true | |
Document Transition Report | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Cash and due from banks: | ||
Non-interest bearing | $ 107,811,000 | $ 75,152,000 |
Interest bearing | 236,048,000 | 340,821,000 |
Federal funds sold | 1,347,000 | 1,308,000 |
Cash and cash equivalents | 345,206,000 | 417,281,000 |
Certificates of deposit | 2,695,000 | 2,695,000 |
Investment securities: | ||
Available-for-sale, at fair value | 1,346,966,000 | 879,240,000 |
Held-to-maturity, at amortized cost (estimated fair value of $7,057 and $5,119 at September 30, 2021 and December 31, 2020, respectively) | 7,026,000 | 5,016,000 |
Equity securities, at fair value | 348,000 | 218,000 |
Loans held for sale | 1,897,000 | 1,924,000 |
Loans | 3,945,872,000 | 3,136,495,000 |
Less allowance for credit losses | (53,983,000) | (41,910,000) |
Net loans | 3,891,889,000 | 3,094,585,000 |
Interest receivable | 22,057,000 | 19,287,000 |
Other real estate owned | 5,625,000 | 2,489,000 |
Premises and equipment, net | 81,823,000 | 58,206,000 |
Goodwill | 111,853,000 | 104,992,000 |
Intangible assets, net | 30,803,000 | 23,128,000 |
Bank owned life insurance | 131,547,000 | 68,955,000 |
Right of use lease assets | 16,120,000 | 17,209,000 |
Other assets | 47,504,000 | 31,123,000 |
Total assets | 6,043,359,000 | 4,726,348,000 |
Deposits: | ||
Non-interest bearing | 1,242,950,000 | 936,926,000 |
Interest bearing | 3,745,612,000 | 2,755,858,000 |
Total deposits | 4,988,562,000 | 3,692,784,000 |
Securities sold under agreements to repurchase | 149,891,000 | 206,937,000 |
Interest payable | 2,569,000 | 2,345,000 |
FHLB borrowings | 112,641,000 | 93,969,000 |
Junior subordinated debentures, net | 19,153,000 | 19,027,000 |
Subordinated debt, net | 94,363,000 | 94,253,000 |
Lease liabilities | 16,315,000 | 17,351,000 |
Other liabilities | 32,640,000 | 31,454,000 |
Total liabilities | 5,416,134,000 | 4,158,120,000 |
Stockholders’ equity: | ||
Common stock, $4 par value; authorized 30,000,000 shares; issued 18,703,817 and 17,361,898 shares in 2021 and 2020, respectively; outstanding 18,083,126 and 16,741,207 shares in 2021 and 2020 respectively | 76,815,000 | 71,449,000 |
Additional paid-in capital | 340,118,000 | 297,806,000 |
Retained earnings | 221,295,000 | 197,726,000 |
Deferred compensation | 2,125,000 | 2,980,000 |
Accumulated other comprehensive income | 5,633,000 | 17,095,000 |
Less treasury stock at cost, 620,691 shares in 2021 and 2020 | (18,761,000) | (18,828,000) |
Total stockholders’ equity | 627,225,000 | 568,228,000 |
Total liabilities and stockholders’ equity | $ 6,043,359,000 | $ 4,726,348,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Investment securities: | ||
Held-to-maturity, at fair value | $ 7,057 | $ 5,119 |
Stockholders’ equity: | ||
Common stock, par value (in dollars per share) | $ 4 | $ 4 |
Common stock, authorized (in shares) | 30,000,000 | 30,000,000 |
Common stock, issued (in shares) | 18,703,817 | 17,361,898 |
Common stock, outstanding (in shares) | 18,083,126 | 16,741,207 |
Treasury stock (in shares) | 620,691 | 620,691 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest income: | ||||
Interest and fees on loans | $ 43,292,000 | $ 32,151,000 | $ 119,973,000 | $ 93,560,000 |
Interest on investment securities | 5,835,000 | 4,074,000 | 16,416,000 | 12,740,000 |
Interest on certificates of deposit investments | 14,000 | 17,000 | 42,000 | 69,000 |
Interest on federal funds sold | 1,000 | 3,000 | ||
Interest on deposits with other financial institutions | 122,000 | 52,000 | 283,000 | 199,000 |
Total interest income | 49,263,000 | 36,295,000 | 136,714,000 | 106,571,000 |
Interest expense: | ||||
Interest on deposits | 2,234,000 | 3,168,000 | 6,980,000 | 10,134,000 |
Interest on securities sold under agreements to repurchase | 52,000 | 68,000 | 179,000 | 420,000 |
Interest on FHLB borrowings | 359,000 | 395,000 | 1,178,000 | 1,480,000 |
Interest on other borrowings | 0 | 0 | 0 | 26,000 |
Interest on junior subordinated debentures | 137,000 | 416,000 | ||
Interest on subordinated debentures | 985,000 | 147,000 | 2,954,000 | 539,000 |
Total interest expense | 3,767,000 | 3,778,000 | 11,707,000 | 12,599,000 |
Net interest income | 45,496,000 | 32,517,000 | 125,007,000 | 93,972,000 |
Provision for loan losses | 1,103,000 | 3,883,000 | 12,679,000 | 15,500,000 |
Net interest income after provision for loan losses | 44,393,000 | 28,634,000 | 112,328,000 | 78,472,000 |
Other income: | ||||
Wealth management revenues | 4,204,000 | 3,468,000 | 14,146,000 | 10,921,000 |
Insurance commissions | 3,932,000 | 3,291,000 | 14,777,000 | 14,000,000 |
Service charges | 1,838,000 | 1,446,000 | 4,741,000 | 4,335,000 |
Securities gains, net | 11,000 | 95,000 | 88,000 | 913,000 |
Mortgage banking income | 1,477,000 | 1,661,000 | 4,577,000 | 3,205,000 |
ATM / debit card revenue | 3,060,000 | 2,367,000 | 8,900,000 | 6,593,000 |
Bank owned life insurance | 813,000 | 434,000 | 2,211,000 | 1,293,000 |
Other | 1,024,000 | 816,000 | 2,952,000 | 2,713,000 |
Total other income | 16,359,000 | 13,578,000 | 52,392,000 | 43,973,000 |
Other expense: | ||||
Salaries and employee benefits | 21,092,000 | 15,346,000 | 69,487,000 | 47,301,000 |
Net occupancy and equipment expense | 5,382,000 | 4,363,000 | 15,834,000 | 12,746,000 |
Net other real estate owned expense | 1,507,000 | 110,000 | 3,551,000 | 62,000 |
FDIC insurance | 268,000 | 469,000 | 1,198,000 | 851,000 |
Amortization of intangible assets | 1,414,000 | 1,277,000 | 3,929,000 | 3,862,000 |
Stationery and supplies | 299,000 | 262,000 | 850,000 | 805,000 |
Legal and professional | 1,878,000 | 1,320,000 | 4,919,000 | 4,207,000 |
ATM / debit card | 618,000 | 730,000 | 2,530,000 | 1,609,000 |
Marketing and donations | 679,000 | 387,000 | 1,688,000 | 1,182,000 |
Other | 3,184,000 | 2,663,000 | 15,948,000 | 8,131,000 |
Total other expense | 36,321,000 | 26,927,000 | 119,934,000 | 80,756,000 |
Income before income taxes | 24,431,000 | 15,285,000 | 44,786,000 | 41,689,000 |
Income taxes | 6,105,000 | 3,720,000 | 10,130,000 | 9,988,000 |
Net income | $ 18,326,000 | $ 11,565,000 | $ 34,656,000 | $ 31,701,000 |
Per share data: | ||||
Basic net income per common share | $ 1.01 | $ 0.69 | $ 1.94 | $ 1.90 |
Diluted net income per common share | 1.01 | $ 0.69 | 1.94 | 1.89 |
Cash dividends declared per common share | $ 0.220 | $ 0.630 | $ 0.400 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 18,326,000 | $ 11,565,000 | $ 34,656,000 | $ 31,701,000 |
Other comprehensive income (loss) | ||||
Unrealized gains (losses) on available-for-sale securities, net of taxes of $1,282 and $21 for three months ended September 30, 2021 and 2020, respectively and $4,655 and ($3,778) for nine months ended September 30, 2021 and 2020, respectively. | (3,140,000) | (52,000) | (11,400,000) | 9,250,000 |
Amortized holding losses on held-to-maturity securities transferred from available-for- sale, net of taxes of $0 and ($3) for three months ended September 30, 2021 and 2020, respectively and $0 and ($13) for nine months ended September 30, 2021 and 2020, respectively. | 8,000 | 32,000 | ||
Less: reclassification adjustment for realized gains included in net income, net of taxes of $3 and $28 for three months ended September 30, 2021 and 2020, respectively and $26 and $265 for nine months ended September 30, 2021 and 2020, respectively. | (8,000) | (67,000) | (62,000) | (648,000) |
Other comprehensive income (loss), net of taxes | (3,148,000) | (111,000) | (11,462,000) | 8,634,000 |
Comprehensive income | $ 15,178,000 | $ 11,454,000 | $ 23,194,000 | $ 40,335,000 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Other comprehensive income (loss) | ||||
Unrealized gains (losses) on available-for-sale securities, taxes | $ 1,282 | $ 21 | $ 4,655 | $ (3,778) |
Amortized holding losses on held-to-maturity securities transferred from available-for-sale, taxes | 0 | (3) | 0 | (13) |
Reclassification adjustment for realized gains included in net income, taxes | $ 3 | $ 28 | $ 26 | $ 265 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Total | Cumulative Effect, Period of Adoption, Adjustment | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | BBM & Associates, Inc. | Delta Bancshares Company | LINCO Bancshares, Inc. | Common Stock | Common StockCumulative Effect, Period of Adoption, Adjusted Balance [Member] | Common StockBBM & Associates, Inc. | Common StockLINCO Bancshares, Inc. | Additional Paid-in Capital | Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjusted Balance [Member] | Additional Paid-in CapitalBBM & Associates, Inc. | Additional Paid-in CapitalDelta Bancshares Company | Additional Paid-in CapitalLINCO Bancshares, Inc. | Retained Earnings | Retained EarningsCumulative Effect, Period of Adoption, Adjustment | Retained EarningsCumulative Effect, Period of Adoption, Adjusted Balance [Member] | Deferred Compensation | Deferred CompensationCumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accumulated Other Comprehensive Income | Accumulated Other Comprehensive IncomeCumulative Effect, Period of Adoption, Adjusted Balance [Member] | Treasury Stock | Treasury StockCumulative Effect, Period of Adoption, Adjusted Balance [Member] |
Beginning balance at Dec. 31, 2019 | $ 526,609,000 | $ 525,892,000 | $ 71,152,000 | $ 71,152,000 | $ 295,925,000 | $ 295,925,000 | $ 166,667,000 | $ 165,950,000 | $ 2,760,000 | $ 2,760,000 | $ 8,360,000 | $ 8,360,000 | $ (18,255,000) | $ (18,255,000) | ||||||||||
Beginning balance (ASU 2016-13) at Dec. 31, 2019 | $ (717,000) | $ (717,000) | ||||||||||||||||||||||
Net income | 31,701,000 | 31,701,000 | ||||||||||||||||||||||
Other comprehensive income (loss), net tax | 8,634,000 | 8,634,000 | ||||||||||||||||||||||
Cash dividends on common stock | (6,651,000) | (6,651,000) | ||||||||||||||||||||||
Issuance of common shares pursuant to the dividend reinvestment plan | 336,000 | 54,000 | 282,000 | |||||||||||||||||||||
Issuance of common shares pursuant to the deferred compensation plan | 228,000 | 33,000 | 195,000 | |||||||||||||||||||||
Issuance of restricted shares pursuant to the 2017 Stock Incentive Plan | 868,000 | 101,000 | 767,000 | |||||||||||||||||||||
Issuance of common shares pursuant to the employee stock purchase plan | 245,000 | 44,000 | 201,000 | |||||||||||||||||||||
Deferred compensation | 208,000 | (208,000) | ||||||||||||||||||||||
Tax benefit related to deferred compensation distributions | 22,000 | 22,000 | ||||||||||||||||||||||
Grant of restricted units pursuant to 2017 Stock Incentive Plan | 584,000 | 584,000 | ||||||||||||||||||||||
Release of restricted units pursuant to 2017 Stock Incentive Plan | (516,000) | (516,000) | ||||||||||||||||||||||
Vested restricted shares/units compensation expense | (334,000) | (334,000) | ||||||||||||||||||||||
Ending balance at Sep. 30, 2020 | 561,009,000 | 71,384,000 | 297,460,000 | 191,000,000 | 2,634,000 | 16,994,000 | (18,463,000) | |||||||||||||||||
Beginning balance at Jun. 30, 2020 | 549,273,000 | 71,370,000 | 297,392,000 | 179,435,000 | 2,364,000 | 17,105,000 | (18,393,000) | |||||||||||||||||
Net income | 11,565,000 | 11,565,000 | ||||||||||||||||||||||
Other comprehensive income (loss), net tax | (111,000) | (111,000) | ||||||||||||||||||||||
Issuance of common shares pursuant to the employee stock purchase plan | 82,000 | 14,000 | 68,000 | |||||||||||||||||||||
Deferred compensation | 70,000 | (70,000) | ||||||||||||||||||||||
Vested restricted shares/units compensation expense | 200,000 | 200,000 | ||||||||||||||||||||||
Ending balance at Sep. 30, 2020 | 561,009,000 | 71,384,000 | 297,460,000 | 191,000,000 | 2,634,000 | 16,994,000 | (18,463,000) | |||||||||||||||||
Beginning balance at Dec. 31, 2020 | 568,228,000 | 71,449,000 | 297,806,000 | 197,726,000 | 2,980,000 | 17,095,000 | (18,828,000) | |||||||||||||||||
Net income | 34,656,000 | 34,656,000 | ||||||||||||||||||||||
Other comprehensive income (loss), net tax | (11,462,000) | (11,462,000) | ||||||||||||||||||||||
Cash dividends on common stock | (11,087,000) | (11,087,000) | ||||||||||||||||||||||
Issuance of common shares pursuant to the dividend reinvestment plan | 333,000 | 32,000 | 301,000 | |||||||||||||||||||||
Issuance of common shares pursuant to the deferred compensation plan | 268,000 | 30,000 | 238,000 | |||||||||||||||||||||
Issuance of restricted shares pursuant to the 2017 Stock Incentive Plan | 942,000 | 111,000 | 831,000 | |||||||||||||||||||||
Issuance of 2,375 common shares pursuant to the 2017 Stock Incentive Plan | 85,000 | 10,000 | 75,000 | |||||||||||||||||||||
Issuance of shares pursuant to the acquisition | $ 1,109,000 | $ 44,191,000 | $ 100,000 | $ 5,049,000 | $ 1,009,000 | $ 39,142,000 | ||||||||||||||||||
Issuance costs pursuant to the acquisition of Delta Bancshares Company | $ (144,000) | $ (144,000) | ||||||||||||||||||||||
Issuance of common shares pursuant to the employee stock purchase plan | 262,000 | 34,000 | 228,000 | |||||||||||||||||||||
Deferred compensation | (67,000) | 67,000 | ||||||||||||||||||||||
Grant of restricted units pursuant to 2017 Stock Incentive Plan | 1,216,000 | 1,216,000 | ||||||||||||||||||||||
Release of restricted units pursuant to 2017 Stock Incentive Plan | (584,000) | (584,000) | ||||||||||||||||||||||
Vested restricted shares/units compensation expense | (788,000) | (788,000) | ||||||||||||||||||||||
Ending balance at Sep. 30, 2021 | 627,225,000 | 76,815,000 | 340,118,000 | 221,295,000 | 2,125,000 | 5,633,000 | (18,761,000) | |||||||||||||||||
Beginning balance at Jun. 30, 2021 | 616,066,000 | 76,797,000 | 340,452,000 | 206,934,000 | 1,742,000 | 8,781,000 | (18,640,000) | |||||||||||||||||
Net income | 18,326,000 | 18,326,000 | ||||||||||||||||||||||
Other comprehensive income (loss), net tax | (3,148,000) | (3,148,000) | ||||||||||||||||||||||
Cash dividends on common stock | (3,965,000) | (3,965,000) | ||||||||||||||||||||||
Issuance of common shares pursuant to the dividend reinvestment plan | 1,000 | 1,000 | ||||||||||||||||||||||
Issuance of common shares pursuant to the deferred compensation plan | 78,000 | 7,000 | 71,000 | |||||||||||||||||||||
Issuance costs pursuant to the acquisition of Delta Bancshares Company | $ (144,000) | $ (144,000) | ||||||||||||||||||||||
Issuance of common shares pursuant to the employee stock purchase plan | 104,000 | 11,000 | 93,000 | |||||||||||||||||||||
Deferred compensation | 121,000 | (121,000) | ||||||||||||||||||||||
Tax benefit related to deferred compensation distributions | (355,000) | (355,000) | ||||||||||||||||||||||
Vested restricted shares/units compensation expense | 262,000 | 262,000 | ||||||||||||||||||||||
Ending balance at Sep. 30, 2021 | $ 627,225,000 | $ 76,815,000 | $ 340,118,000 | $ 221,295,000 | $ 2,125,000 | $ 5,633,000 | $ (18,761,000) |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
Cash dividends declared per common share | $ 0.220 | $ 0.630 | $ 0.400 |
Issuance of common shares pursuant to the Dividend Reinvestment Plan (in shares) | 1 | 8,615 | 13,804 |
Stock issued during period, shares, deferred compensation | 1,952 | 7,493 | 8,163 |
Restricted stock issued during period, shares, pursuant to the 2017 stock incentive plan | 27,750 | 25,200 | |
Common stock issued during period, shares, pursuant to the 2017 stock incentive plan | 2,375 | ||
Stock issued during period, shares, employee stock purchase plans | 2,700 | 8,439 | 11,037 |
LINCO Bancshares, Inc. | |||
Stock Issued During Period, Shares, Acquisitions | 1,262,246 | ||
BBM & Associates, Inc. | |||
Stock Issued During Period, Shares, Acquisitions | 25,000 | 25,000 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities: | ||
Net income | $ 34,656 | $ 31,701 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 12,679 | 15,500 |
Depreciation, amortization and accretion, net | 10,131 | 8,795 |
Change in cash surrender value of bank owned life insurance | (2,211) | (1,293) |
Stock-based compensation expense | 786 | 604 |
Operating lease payments | (2,161) | (2,092) |
Gain on investment securities, net | (88) | (913) |
(Gain) loss on sales and write downs of other real estate owned, net | 6,870 | (427) |
Gain on sale of other assets | (154) | (26) |
Gain on sale of loans held for sale, net | (3,426) | (3,484) |
(Increase) decrease in accrued interest receivable | 195 | (4,651) |
Decrease in accrued interest payable | (519) | (237) |
Origination of loans held for sale | (113,630) | (144,814) |
Proceeds from sale of loans held for sale | 117,083 | 145,716 |
Increase in other investment | (442) | (101) |
Increase in other assets | (18,326) | (5,735) |
Increase (decrease) in other liabilities | 5,236 | (5,479) |
Net cash provided by operating activities | 46,679 | 33,064 |
Cash flows from investing activities: | ||
Proceeds from maturities of certificates of deposit investments | 245 | 2,910 |
Purchases of certificates of deposit investments | (245) | (980) |
Proceeds from sales of securities available-for-sale | 611 | 3,417 |
Proceeds from maturities of securities available-for-sale | 182,803 | 292,091 |
Proceeds from maturities of securities held-to-maturity | 0 | 15,000 |
Purchases of securities available-for-sale | (552,294) | (291,282) |
Net (increase) decrease in loans | 16,683 | (539,867) |
Purchases of premises and equipment | (2,367) | (2,688) |
Proceeds from sales of other real property owned | 8,602 | 1,777 |
Investment in banked owned life insurance | (30,000) | 0 |
Net cash provided by acquisition | 27,061 | 0 |
Net cash used in investing activities | (348,901) | (519,622) |
Cash flows from financing activities: | ||
Net increase in deposits | 305,368 | 702,470 |
Decrease in federal funds purchased | 0 | (5,000) |
Decrease in repurchase agreements | (57,046) | (37,764) |
Proceeds from FHLB advances | 5,000 | 19,000 |
Repayment of FHLB advances | (14,000) | (39,000) |
Proceeds from short-term debt | 0 | 5,000 |
Repayment of short-term debt | 0 | (5,000) |
Proceeds from issuance of common stock | 1,724 | 473 |
Direct expenses related to capital transactions | (144) | 0 |
Dividends paid on common stock | (10,755) | (6,316) |
Net cash provided by financing activities | 230,147 | 633,863 |
Increase (decrease) in cash and cash equivalents | (72,075) | 147,305 |
Cash and cash equivalents at beginning of period | 417,281 | 85,080 |
Cash and cash equivalents at end of period | 345,206 | 232,385 |
Cash paid during the period for: | ||
Interest | 11,483 | 13,022 |
Income taxes | 14,306 | 18,624 |
Supplemental disclosures of noncash investing and financing activities | ||
Loans transferred to other real estate | 237 | 214 |
Dividends reinvested in common stock | 333 | 336 |
Net tax benefit related to option and deferred compensation plans | 0 | 22 |
LINCO Bancshares, Inc. | ||
Supplemental disclosures of noncash investing and financing activities | ||
Fair value of assets acquired | 1,170,699 | 0 |
Cash paid | 103,500 | 0 |
Common stock issued | 44,191 | 0 |
Total consideration paid | 147,691 | 0 |
Fair value of liabilities assumed | $ 1,023,008 | $ 0 |
Basis of Accounting and Consoli
Basis of Accounting and Consolidation | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Accounting and Consolidation | Note 1 -- Basis of Accounting and Consolidation The unaudited condensed consolidated financial statements include the accounts of First Mid Bancshares, Inc. (“Company”) formerly known as First Mid-Illinois Bancshares, Inc., and its wholly owned subsidiaries: First Mid Bank & Trust, N.A. (“First Wealth The unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements and related footnote disclosures although the Company believes that the disclosures made are adequate to make the information not misleading. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2020 Annual Report on Form 10-K. COVID-19 The COVID-19 outbreak is an unprecedented event that provides significant economic uncertainty for a broad spectrum of industries. The Company is focused on supporting its customers, communities and employees during this unique operating environment. Throughout this document, the Company describes the impact COVID-19 is having, actions taken as a result of COVID-19, and certain risks to the Company that COVID-19 creates or exacerbates, as well as management's outlook on the current COVID-19 situation. Delta Bancshares Company On July 28, 2021, the Company and Brock Sub LLC, a newly formed Delaware limited liability company and wholly-owned subsidiary of the Company (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Delta Bancshares Company, a Missouri corporation (“Delta”), pursuant to which, among other things, the Company agreed to acquire 100% of the issued and outstanding shares of Delta pursuant to a business combination whereby Delta will merge with and into Merger Sub, whereupon the separate corporate existence of Delta will cease and Merger Sub will continue as the surviving company and a wholly-owned subsidiary of First Mid (the “Merger”). Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger, each share of common stock, par value $10.00 per share, of Delta issued and outstanding immediately prior to the effective time of the Merger (other than shares held in treasury by Delta) will be converted into and become the right to receive cash and shares of common stock, par value $4.00 per share, of the Company and cash in lieu of fractional shares, less any applicable taxes required to be withheld, and subject to certain potential adjustments. On an aggregate basis, the total consideration payable by the Company at the closing of the Merger to Delta’s shareholders and option holders is approximately $15.2 million in cash and 2,282,511 shares of Company common stock. Delta’s outstanding stock options will fully vest upon consummation of the Merger, and all outstanding Delta options that are unexercised prior to the effective time of the Merger will be cashed out. It is anticipated that Delta’s wholly owned bank subsidiary, Jefferson Bank and Trust Company (“Jefferson Bank”), will be merged with and into First Mid Bank at a date following completion of the Merger. At the time of the bank merger, Jefferson Bank’s banking offices will become branches of First Mid Bank. As of September 30, 2021, Jefferson Bank had total consolidated assets of approximately $668 million, loans of approximately, $448 million and total deposits of approximately $511 million. The Merger is anticipated to be completed in the fourth quarter of 2021 and is subject to the approval of the appropriate regulatory authorities and the shareholders of Delta. The shareholders of Delta voted in favor of the Merger on October 28, 2021. 10 Subordinated Debt Offering On October 6, 2020, the Company issued and sold $96.0 million in aggregate principal amount of its 3.95% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Notes were issued pursuant to the Indenture, dated as of October 6, 2020 (the “Base Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture, dated as of October 6, 2020 (the “Supplemental Indenture”), between the Company and the Trustee. The Base Indenture, as amended and supplemented by the Supplemental Indenture, governs the terms of the Notes and provides that the Notes are unsecured, subordinated debt obligations of the Company and will mature on October 15, 2030. From and including the date of issuance to, but excluding October 15, 2025, the Notes will bear interest at an initial rate of 3.95% per annum. From and including October 15, 2025 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month Term SOFR plus a spread of 383 basis points, or such other rate as determined pursuant to the Supplemental Indenture, provided that in no event shall the applicable floating interest rate be less than zero per annum. The Company may, beginning with the interest payment date of October 15, 2025, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the Notes at any time, including prior to October 15, 2025, at the Company’s option, in whole but not in part, if: (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the Notes for U.S. federal income tax purposes; (ii) a subsequent event occurs that could preclude the Notes from being recognized as Tier 2 capital for regulatory capital purposes; or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended; in each case, at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to but excluding the redemption date. Website The Company maintains a website at www.firstmid.com General Litigation The Company is subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on the consolidated financial position, results of operations and cash flows of the Company. 2020 Loan Purchase On April 21, 2020, First Mid Bank completed an acquisition of loans in the St. Louis Metro market totaling $183,000,000. There were no loans purchased with deteriorated credit. First Mid Bank also assumed $60,000,000 of related customer deposits 2021 Loan Purchase On September 10, 2021, First Mid Bank completed an acquisition of loans in the St. Louis Metro market totaling $208,000,000. There were no loans purchased with deteriorated credit. First Mid Bank also assumed $215,000,000 of related customer deposits and recorded a core deposit intangible asset of approximately $4,848,000 that is being amortized on an accelerated basis over ten years. 11 Stock Plans At ten-year Following the stockholders’ approval at the 2021 annual meeting of the Company, a maximum of 399,983 shares of common stock may be issued under the SI Plan. There have been no stock options awarded under 27,750 25,200 2020 2020 Employee Stock Purchase Plan At the Annual Meeting of Stockholders held April 25, 2018, the stockholders approved the First Mid-Illinois Bancshares, Inc. Employee A 600,000 ESPP. September 30, 2021 2020 8,439 ESPP. Captive Insurance Company First “ Bank Owned Life Insurance First Mid Bank has purchased life insurance policies on certain senior management. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts that are probable at settlement. Revenue Recognition Accounting Revenue from Contracts with Customers Trust revenues. The Company generates fee income from providing fiduciary services through its subsidiary, First Mid Wealth Management Company. Fees are billed in arrears based upon the preceding period account balance. Revenue from farm management services is recorded when the service is complete, for example when crops are sold. Brokerage commissions. Revenue is recorded at the beginning of each quarter through billing to customers based on the account asset size on the last day of the previous quarter. If a withdrawal of funds takes place, a prorated refund may occur; this is reflected within the same quarter as the original billing occurred. All performance obligations are met within the same quarter that the revenue is recorded. 12 Insurance commissions. The Company’s insurance agency subsidiary, First Mid Insurance, receives commissions on premiums of new and renewed business policies. First Mid Insurance records commission revenue on direct bill policies as the cash is received. For agency bill policies, First Mid Insurance retains its commission portion of the customer premium payment and remits the balance to the carrier. In both cases, the entire performance obligation is held by the carriers. Service charges on deposits. The Company generates revenue from fees charged for deposit account maintenance, overdrafts, wire transfers, and check fees. The revenue related to deposit fees is recognized at the time the performance obligation is satisfied. ATM/debit card revenue. The Company generates revenue through service charges on the use of its ATM machines and interchange income from the use of Company issued credit and debit cards. The revenue is recognized at the time the service is used and the performance obligation is satisfied. Other income. Treasury management fees and lock box fees are received and recorded after the service performance obligation is completed. Merchant bank card fees are received from various vendors; however, the performance obligation is with the vendors. The Company records gains on the sale of loans and the sale of OREO properties after the transactions are complete and transfer of ownership has occurred. As each of the Company’s facilities is in markets with similar economies, no disaggregation of revenue is necessary. Accumulated Other Comprehensive Income The components of accumulated other comprehensive income included in stockholders’ equity as of September 30, 2021 and December 31, 2020 are as follows (in Unrealized Gain (Loss) on Securities September 30, 2021 Net unrealized gains on securities available-for-sale $ 7,934 Tax expense (2,301 ) Balance at September 30, 2021 $ 5,633 December 31, 2020 Net unrealized gains on securities available-for-sale $ 24,077 Tax expense (6,982 ) Balance at December 31, 2020 $ 17,095 Amounts reclassified from accumulated other comprehensive income and the affected line items in the statements of income during the three and nine months ended September 30, 2021 and 2020, were as follows (in thousands): Amounts Reclassified from Other Comprehensive Income Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Affected Line Item in the Statements of Income Realized gains on available-for-sale securities $ 11 $ 95 $ 88 $ 913 Securities gains, net Tax effect (3 ) (28 ) (26 ) (265 ) Income taxes Total reclassifications out of accumulated other comprehensive income $ 8 $ 67 $ 62 $ 648 Net reclassified amount See “Note 3 – Investment Securities” for more detailed information regarding unrealized losses on available-for-sale securities. 13 Adoption of New Accounting Guidance Accounting Standards Update 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). In August 2018, FASB issued ASU 2018-13. This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, an entity will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019. As ASU 2018-13 only revises disclosure requirements, it did not have a material impact on the Company’s consolidated financial statements. Accounting Standards Update 2016-13, Financial Instruments - Credit Losses In June 2016, FASB issued ASU 2016-13. The provisions of ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for sale debt securities. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. Management formed an internal, cross functional committee in 2017 to evaluate implementation steps and assess the impact ASU 2016-13 would have on the Company’s consolidated financial statements. The committee assigned roles and responsibilities, key tasks to complete, and established a general time-line for implementation. The Company also engaged an The Company adopted ASU 2016-13 using the modified retrospective method for financial assets measured at amortized cost-effective January 1, 2020. Results for the periods beginning after January 1, 2020 are presented under ASU 2016-13 while prior period amounts are reported in accordance with the previously applicable accounting standards. The Company recorded a reduction to retained earnings of approximately $717,000 upon adoption of ASU 2016-13. The transition adjustment included an increase to the allowance for credit losses on loans of $1.7 million and an increase to the allowance for credit losses on off-balance sheet credit exposure of $69,000. There was no allowance for credit losses recorded for held-to- maturity debt securities. The transition adjustment included corresponding increases in deferred tax assets. The Company adopted ASU 2016-13 using the prospective transition approach for financial assets considered purchased credit deteriorated ("PCD") that were previously classified as purchase credit impaired ("PCI") and accounted for under ASC 310-30 effective January 1, 2020. In accordance with the standard, the Company did not reassess whether the PCI assets met the criteria of PCD assets as of the adoption date. The amortized cost of the PCD assets were adjusted to reflect the addition of $833,000 to the allowance for credit losses. The remaining noncredit discount (based on the adjusted amortized cost) will be accreted into interest income at the effective interest rate over the remaining life of the assets. The following table illustrates the impact of ASU 2016-13 adoption (in thousands): January 1, 2020 As reported Pre-ASU Impact of ASU under ASU 2016-13 2016-13 2016-13 Adoption Adoption Assets: Construction and land development $ 1,033 $ 1,146 $ (113 ) Agricultural real estate 1,323 1,093 230 1-4 family residential properties 2,142 1,386 756 Commercial real estate 11,739 11,198 541 Agricultural 1,023 1,386 (363 ) Commercial and industrial 9,428 9,273 155 Consumer 1,895 1,429 466 Allowance for credit losses for all loans $ 28,583 $ 26,911 $ 1,672 Liabilities: Allowance for credit losses on off-balance sheet exposures $ 69 $ — $ 69 14 T he following table illustrates the impact of ASU 2013-13 adoption for PCD assets previously classified as PCI included in the table above (in thousands): January 1, 2020 As reported Pre-ASU Impact of ASU under ASU 2016-13 2016-13 2016-13 Adoption Adoption Construction and land development $ 291 $ — $ 291 1-4 family residential properties 48 6 42 Commercial real estate 818 359 459 Commercial and industrial 41 — 41 Allowance for credit losses for PCD loans $ 1,198 $ 365 $ 833 |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 2 -- Earnings Per Share Basic net income per common share available to common stockholders is calculated as net income less preferred stock dividends divided by the weighted average number of common shares outstanding. Diluted net income per common share available to common stockholders is computed using the weighted average number of common shares outstanding, increased by the Company’s stock options, unless anti-dilutive. The components of basic and diluted net income per common share available to common stockholders for the three and nine months ended September 30, 2021 and 2020 were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Basic net income per common share Available to common stockholders: Net income $ 18,326,000 $ 11,565,000 $ 34,656,000 $ 31,701,000 Weighted average common shares outstanding 18,083,126 16,728,191 17,819,619 16,710,485 Basic earnings per common share $ 1.01 $ 0.69 $ 1.94 $ 1.90 Diluted net income per common share Available to common stockholders: Net income applicable to diluted earnings per share $ 18,326,000 $ 11,565,000 $ 34,656,000 $ 31,701,000 Weighted average common shares outstanding 18,083,126 16,728,191 17,819,619 16,710,485 Dilutive potential common shares: restricted stock awarded 53,020 46,908 53,020 46,908 Diluted weighted average common shares outstanding 18,136,146 16,775,099 17,872,639 16,757,393 Diluted earnings per common share $ 1.01 $ 0.69 $ 1.94 $ 1.89 There were no shares excluded when computing diluted earnings per share for the three and nine months ended September 30, 2021 and 2020 because they were anti-dilutive. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | 15 Note 3 -- Investment Securities The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at September 30, 2021 and December 31, 2020 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value September 30, 2021 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 194,162 $ 308 $ (2,786 ) $ 191,684 Obligations of states and political subdivisions 328,394 11,310 (960 ) 338,744 Mortgage-backed securities: GSE residential 783,400 6,300 (7,085 ) 782,615 Other securities 33,076 883 (36 ) 33,923 Total available-for-sale $ 1,339,032 $ 18,801 $ (10,867 ) $ 1,346,966 Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 5,004 $ 31 $ — $ 5,035 Other securities 2,022 — — 2,022 Total held-to-maturity $ 7,026 $ 31 $ — $ 7,057 December 31, 2020 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 127,067 $ 790 $ (788 ) $ 127,069 Obligations of states and political subdivisions 237,886 11,995 (37 ) 249,844 Mortgage-backed securities: GSE residential 479,470 12,038 (160 ) 491,348 Other securities 10,740 252 (13 ) 10,979 Total available-for-sale $ 855,163 $ 25,075 $ (998 ) $ 879,240 Held-to-maturity: U.S. Treasury securities and obligations of U.S government corporations and agencies $ 5,016 $ 103 $ — $ 5,119 The Company also had $348,000 and $218,000 of equity securities, at fair value, as of September 30, 2021 and December 31, 2020, respectively. The Company's held-to-maturity securities are government agency-backed securities for which the risk of loss is minimal. As such, as of September 30, 2021, the Company did not record an allowance for credit losses on its held-to-maturity securities. Realized gains and losses resulting from sales of securities were as follows during the three and nine months ended September 30, 2021 and 2020 (in thousands): Three months September 30, Nine months September 30, 2021 2020 2021 2020 Gross gains $ 11 $ 116 $ 88 $ 934 Gross losses — (21 ) — (21 ) 16 The following table indicates the expected maturities of investment securities classified as available-for-sale presented at fair value, and held-to-maturity presented at amortized cost, at September 30, 2021 and the weighted average yield for each range of maturities (dollars in thousands): One year or less After 1 through 5 years After 5 through 10 years After ten years Total Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 116,855 $ 63,561 $ 11,268 $ — $ 191,684 Obligations of state and political subdivisions 24,335 82,566 224,078 7,765 338,744 Mortgage-backed securities: GSE residential 17,950 410,157 354,508 — 782,615 Other securities 6,055 24,860 3,008 — 33,923 Total available-for-sale investments $ 165,195 $ 581,144 $ 592,862 $ 7,765 $ 1,346,966 Weighted average yield 1.61 % 1.95 % 1.68 % 2.43 % 1.79 % Full tax-equivalent yield 1.78 % 2.10 % 1.94 % 3.16 % 2.00 % Held to maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 5,004 $ — $ — $ — $ 5,004 Other securities — 2,022 2,022 Total held-to-maturity $ 5,004 $ — $ — $ 2,022 $ 7,026 Weighted average yield 2.06 % — % — % — % 2.06 % Full tax-equivalent yield 2.06 % — % — % — % 2.06 % The weighted average yields are calculated based on the amortized cost and effective yields weighted for the scheduled maturity of each security. Tax-equivalent yields have been calculated using a 21% tax rate. With the exception of obligations of the U.S. Treasury and other U.S. government agencies and corporations, there were no investment securities of any single issuer, the book value of which exceeded 10% of stockholders' equity at September 30, 2021. Investment securities carried at approximately $740 million and $531 million at September 30, 2021 and December 31, 2020, respectively, were pledged to secure public deposits and repurchase agreements and for other purposes as permitted or required by law. The following table presents the aging of gross unrealized losses and fair value by investment category as of September 30, 2021 and December 31, 2020 (in thousands): Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2021 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 145,432 $ (2,435 ) $ 9,649 $ (351 ) $ 155,081 $ (2,786 ) Obligations of states and political subdivisions 87,767 (960 ) — — 87,767 (960 ) Mortgage-backed securities: GSE residential 508,332 (7,084 ) 93 (1 ) 508,425 (7,085 ) Other securities 11,057 (36 ) — — 11,057 (36 ) Total $ 752,588 $ (10,515 ) $ 9,742 $ (352 ) $ 762,330 $ (10,867 ) December 31, 2020 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 59,211 $ (788 ) $ — $ — $ 59,211 $ (788 ) Obligations of states and political subdivisions 5,380 (37 ) — — 5,380 (37 ) Mortgage-backed securities: GSE residential 57,609 (160 ) 2,377 — 59,986 (160 ) Other securities 3,977 (13 ) — — 3,977 (13 ) Total $ 126,177 $ (998 ) $ 2,377 $ — $ 128,554 $ (998 ) 17 U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies. At September 30, 2021 and December 31, 2020, there was one available-for-sale security with a fair value of $9,649,000 Obligations of states and political subdivisions. At September 30, 2021, there were no obligations of states and political subdivisions in a continuous loss position for twelve months or more. Mortgage-backed Securities: GSE Residential. At September 30, 2021, there were eleven mortgage-backed securities with a fair value of $93,000 and unrealized losses of $1,000 in a continuous unrealized loss position for twelve months or more. At December 31, 2020 there were two mortgage-backed securities with a fair value of $2,377,000 and unrealized losses of $0 in a continuous unrealized loss position for twelve months or more. Other securities. At September 30, 2021, and December 31, 2020, there were no other securities in a continuous unrealized loss position for twelve months or more. The Company does not believe any unrealized losses as of September 30, 2021 represents other than temporary impairment ("OTTI"). However, given the uncertainty of the financial markets, the Company may be required to recognize OTTI losses in future periods with respect to its available for sale investment securities portfolio. The amount and timing of any additional OTTI will depend on the decline in the underlying cash flows of the securities. Should the impairment of any of these securities become other-than-temporary, the cost basis of the investment will be reduced, and the resulting loss recognized in the period the other-than-temporary impairment is identified. |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loans and Allowance for Credit Losses | 90 Days and Accruing
September 30, 2021
Construction and land development
$
458
$
9
$
642
$
1,109
$
178,952
$
180,061
$
—
Agricultural real" id="sjs-B4">Note 4 – Loans and Allowance for Credit Losses Loans are stated at amortized cost net of an allowance for credit losses. Amortized cost is the unpaid principal net of unearned premiums and discounts, and net deferred origination fees and costs. Deferred loan origination fees are reduced by loan origination costs and are amortized to interest income over the life of the related loan using methods that approximated the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding. A summary of loans at September 30, 2021 and December 31, 2020 follows (in thousands): September 30, 2021 December 31, 2020 Construction and land development $ 179,792 $ 122,853 Agricultural real estate 278,432 254,662 1-4 family residential properties 412,320 325,480 Multifamily residential properties 306,966 189,265 Commercial real estate 1,583,583 1,176,290 Loans secured by real estate 2,761,093 2,068,550 Agricultural loans 126,473 137,333 Commercial and industrial loans 839,630 741,819 Consumer loans 80,779 78,023 All other loans 143,724 118,196 Total gross loans 3,951,699 3,143,921 Less: loans held for sale 1,897 1,924 3,949,802 3,141,997 Less: Net deferred loan fees, premiums and discounts 3,930 5,502 Allowance for credit losses 53,983 41,910 Net loans $ 3,891,889 $ 3,094,585 Loans expected to be sold are classified as held for sale in the consolidated financial statements and are recorded at the lower of aggregate cost or fair value, taking into consideration future commitments to sell the loans. These loans are primarily for 1-4 family residential properties. Accrued interest on loans, which is excluded from the amortized cost of the balances above, totaled $16.5 million and $15.9 million at September 30, 2021 and December 31, 2020, respectively. 18 Most of the Company’s business activities are with customers located near the Company's branch locations in Illinois, Missouri, and Texas. At September 30, 2021, the Company’s loan portfolio included $405.3 million of loans to borrowers whose businesses are directly related to agriculture. Of this amount, $285.2 million was concentrated in corn and other grain farming. Total loans to borrowers whose businesses are directly related to agriculture increased $13.6 million from $391.7 million at December 31, 2020 due to seasonal timing of cash flow requirements. Loans concentrated in corn and other grain farming decreased $23.0 million from $308.2 million at December 31, 2020. The Company's underwriting practices include collateralization of loans. Any extended period of low commodity prices, drought conditions, significantly reduced yields on crops and/or reduced levels of government assistance to the agricultural industry could result in an increase in the level of problem agriculture loans and potentially result in loan losses within the agricultural portfolio. In addition, the Company has $121.2 million of loans to motels and hotels. The performance of these loans is dependent on borrower specific issues as well as the general level of business and personal travel within the region. While the Company adheres to sound underwriting standards, a prolonged period of reduced business or personal travel could result in an increase in nonperforming loans to this business segment and potentially in loan losses. The Company also has $637.5 million of The structure of the Company’s loan approval process is based on progressively larger lending authorities granted to individual loan officers, loan committees, and ultimately the board of directors. Outstanding balances to one borrower or affiliated borrowers are limited by federal regulation and most borrowers are below regulatory thresholds. The Company can occasionally have outstanding balances to one borrower up to but not exceeding the regulatory threshold should underwriting guidelines warrant. Most of the Company’s loans are to businesses located in the The Company’s lending can be summarized into the following primary areas: Commercial Real Estate Loans. Commercial real estate loans are generally comprised of loans to small business entities to purchase or expand structures in which the business operations are housed, loans to owners of real estate who lease space to non-related commercial entities, loans for construction and land development, loans to hotel operators, and loans to owners of multi-family residential structures, such as apartment buildings. Commercial real estate loans are underwritten based on historical and projected cash flows of the borrower and secondarily on the underlying real estate pledged as collateral on the debt. For the various types of commercial real estate loans, minimum criteria have been established within the Company’s loan policy regarding debt service coverage while maximum limits on loan-to-value and amortization periods have been defined. Maximum loan-to-value ratios range from 65% to 80% depending upon the type of real estate collateral, while the desired minimum debt coverage ratio is 1.20x. Amortization periods for commercial real estate loans are generally limited to twenty or twenty five years, depending on the loan-to-value. The Company’s commercial real estate portfolio is below the thresholds that would designate a concentration in commercial real estate lending, as established by the federal banking regulators. Commercial and Industrial Loans. Commercial and industrial loans are primarily comprised of working capital loans used to purchase inventory and fund accounts receivable that are secured by business assets other than real estate. These loans are generally written for one year or less. Also, equipment financing is provided to businesses with these loans generally limited to 80% of the value of the collateral and amortization periods limited to seven years. Commercial loans are often accompanied by a personal guaranty of the principal owners of a business. Like commercial real estate loans, the underlying cash flow of the business is the primary consideration in the underwriting process. The financial condition of commercial borrowers is monitored at least annually with the type of financial information required determined by the size of the relationship. Measures employed by the Company for businesses with higher risk profiles include the use of government- assisted lending programs through the Small Business Administration and U.S. Department of Agriculture. Agricultural and Agricultural Real Estate Loans. Agricultural loans are generally comprised of seasonal operating lines to cash grain farmers to plant and harvest corn and soybeans and term loans to fund the purchase of equipment. Agricultural real estate loans are primarily comprised of loans for the purchase of farmland. Specific underwriting standards have been established for agricultural-related loans including the establishment of projections for each operating year based on industry developed estimates of farm input costs and expected commodity yields and prices. Operating lines are typically written for one year and secured by the crop. Loan-to-value ratios on loans secured by farmland generally do not exceed 65% and have amortization periods limited to twenty-five years. Federal government-assistance lending programs through the Farm Service Agency are used to mitigate the level of credit risk when deemed appropriate. 19 Residential Real Estate Loans. Residential real estate loans generally include loans for the purchase or refinance of residential real estate properties consisting of one-to-four units and home equity loans and lines of credit. The Company sells most of its long-term fixed rate residential real estate loans to secondary market investors. The Company also releases the servicing of these loans upon sale. Residential real estate loans are typically underwritten to conform to industry standards including criteria for maximum debt-to-income and loan-to-value ratios as well as minimum credit scores. Loans secured by first liens on residential real estate held in the portfolio typically do not exceed 80% of the value of the collateral and have amortization periods of twenty-five years or less. The Company does not originate subprime mortgage loans. Consumer Loans. Consumer loans are primarily comprised of loans to individuals for personal and household purposes such as the purchase of an automobile or other living expenses. Minimum underwriting criteria have been established that consider credit score, debt-to-income ratio, employment history, and collateral coverage. Typically, consumer loans are set up on monthly payments with amortization periods based on the type and age of the collateral. Other Loans. Other loans consist primarily of loans to municipalities to support community projects such as infrastructure improvements or equipment purchases. Underwriting guidelines for these loans are consistent with those established for commercial loans with the additional repayment source of the taxing authority of the municipality. Allowance for Credit Losses The allowance for credit losses represents the Company’s best estimate of the reserve necessary to adequately account for probable losses expected over the remaining contractual life of the assets. The provision for credit losses is the charge against current earnings that is determined by the Company as the amount needed to maintain an adequate allowance for credit losses. In determining the adequacy of the allowance for credit losses, and therefore the provision to be charged to current earnings, the Company relies predominantly on a disciplined credit review and approval process that extends to the full range of the Company’s credit exposure. The review process is directed by the overall lending policy and is intended to identify, at the earliest possible stage, borrowers who might be facing financial difficulty. Factors considered by the Company in evaluating the overall adequacy of the allowance include historical net loan losses, the level and composition of nonaccrual, past due and troubled debt restructurings, trends in volumes and terms of loans, effects of changes in risk selection and underwriting standards or lending practices, lending staff changes, concentrations of credit, industry conditions and the current economic conditions in the region where the Company operates. The Company estimates the appropriate level of allowance for credit losses by evaluating large individually evaluated loans separately from non-individually evaluated loans. Individually Evaluated Loans The Company individually evaluates certain loans for impairment. In general, these loans have been internally identified via the Company’s loan grading system as credits requiring management’s attention due to underlying problems in the borrower’s business or collateral concerns. This evaluation considers expected future cash flows, the value of collateral and other factors that may impact the borrower’s ability to make payments when due. For loans greater than $250,000, impairment is individually measured each quarter using one of three alternatives: (1) the present value of expected future cash flows discounted at the loan’s Non-Individually Evaluated Loans Non-individually evaluated loans comprise the vast majority of the Company’s total loan portfolio and include loans in accrual status and those credits not identified as troubled debt restructurings. A small portion of these loans are considered “criticized” due to the risk rating assigned reflecting elevated credit risk due to characteristics, such as a strained cash flow position, associated with the individual borrowers. Criticized loans are those assigned risk ratings of Special Mention, Substandard, or Doubtful. 20 Beginning January 1 , 2020, the allowance for credit losses was estimated using the current expected credit loss model ("CECL"). The Company uses the Loss Rate method to estimate the historical loss rate for all non -individually evaluated loans. Under this method, the allowance for credit losses is measured on a collective (pool) basis for non- individually evaluated loans with similar risk characteristics. Historical credit loss experience provides the basis for the estimate of expected credit losses. For each pool, a historical loss rate is computed based on the average remaining contractual life of the pool. Adjustments to historical loss rates are made using qualitative factors relevant to each pool including merger & acquisition activity, economic conditions, changes in policies, procedures & underwriting, and concentrations. In addition, a twelve-month forecast, using reasonable and supportable future conditions, is prepared that is used to estimate expected changes to existing and historical conditions in the current period. The Company also considers specific current economic events occurring globally, in the U.S. and in its local markets. In March 2020, in response to the COVID-19 outbreak, its significant disruptions in the U.S. economy and impacts on local markets, First Mid Bank offered a 90-day commercial deferral program, primarily to hotel and restaurant borrowers. In accordance with interagency guidance issued in March 2020, these short-term deferrals are not considered troubled debt restructurings. These deferrals were, however, considered in the factors used to estimate the required allowance for credit losses for non-individually evaluated loans. Other COVID-19 related impacts considered included revenue losses of businesses required to restrict or cease services, income loss to workers laid off as a result of COVID-19 restrictions, various federal and state government stimulus programs and additional deferral programs offered by First Mid Bank beginning in April 2020. Other events considered include the status of trade agreements with China, scheduled increases in minimum wage and changes to the minimum salary threshold for overtime provisions, current and projected unemployment rates, current and projected grain and oil prices and economies of local markets where customers work and operate. Within each pool, risk elements are evaluated that have specific impacts to the borrowers within the pool. These, along with the general risks and events, and the specific lending policies and procedures by loan type described above, are analyzed to estimate the qualitative factors used to adjust the historical loss rates. During the current period, the following assumptions and factors were considered when determining the historical loss rate and any potential adjustments by loan pool. Construction and Land Development Loans. The average life of the construction and land development segment was determined to be twelve months. Historical losses in this segment remained very low. Current activity in this industry was deemed essential and has continued during COVID-19. While staffing shortages and supply chain disruptions cause risk in this segment, most projects are associated with financially strong borrowers. The qualitative factor for this segment was decreased slightly. Agricultural Real Estate Loans. The average life of the agricultural real estate segment was determined to be thirty-six months. Historical losses in the segment remain very low. Farmland values have remained steady over an extended period of time and there are no indications that this will change in the next year. There was a slight decrease to the qualitative factor for this segment. 1- 4 Family Residential Properties Loans. The average life of the 1-4 Family Residential segment was determined to be: Residential Real Estate-non-owner occupied, sixty months; Residential Real Estate-owner occupied, sixty months; Home Equity lines of credit, thirty months. COVID-19 has impacted the finances of consumers from layoffs and furloughs resulting from employers that must reduce or suspend operations. Increased risk in this segment includes consumer ability to make mortgage and rent payments. Some of this impact has been offset by governmental actions such as stimulus payments and extended unemployment benefits. First Mid Bank also offered short-term loan payment deferral to borrowers in this segment. The qualitative factors on both non-owner occupied and owner-occupied loans for this segment were decreased slightly. Commercial Real Estate Loans. The average life of the commercial real estate segment was determined to be thirty-six months. This segment includes the Company's majority of exposure to the hotel industry which has been significantly impacted by COVID-19 events. Other impacted industries in this segment include restaurants and retail establishments. First Mid Bank has implemented deferral programs for borrowers in this segment in order to ease the impact to these borrowers. The qualitative factors on both non-owner occupied and owner-occupied loans for this segment were decreased slightly. Agricultural Loans. The average life of the agricultural segment was determined to be eighteen months. Losses in this segment are very low and it is believed that borrowers in this segment will benefit from current governmental programs such as PPP and MFP. Many farmers are holding grain from the 2019 operating season and should be able to take advantage of an increase in prices. The qualitative factor of this segment was decreased slightly. 21 Commercial and Industrial Loans. The average life of the commercial and industrial segment was determined to be twenty-four months. The COVID-19 impacts include forced closures and scaled-back services for many industries within this segment including retailers, restaurants, and video gaming establishments. Some of this risk is offset by government relief programs as well as, First Mid Bank's payment deferral program. The qualitative factor for this segment was decreased slightly . Consumer Loans. The average life of the consumer segment was determined to be thirty-six months. The financial status of many borrowers has been impacted by COVID-19 events including layoffs and reduced hours. Some of this impact has been offset by government stimulus programs, increased paid leave and increased and extended unemployment benefits, however these benefits are now expiring. Additionally, First Mid Bank has offered a short-term payment deferral program. The qualitative factor for this segment was decreased slightly. Acquired Loans. Prior to January 1, 2020 loans acquired with evidence of credit deterioration since origination and for which it was probable that all contractually required payments would not be collected were considered purchased credit impaired at the time of acquisition. Purchase credit-impaired ("PCI") loans were accounted for under ASC 310-30, Receivables--Loans and Debt Securities Acquired with Deteriorated Credit Quality ("ASC 310-30"), and were initially measured at fair value, which included the estimated future credit losses expected to be incurred over the life of the loan. Accordingly, an allowance for credit losses related to these loans was not carried over and recorded at the acquisition date. The cash flows expected to be collected were estimated using current key assumptions, such as default rates, value of underlying collateral, severity and prepayment speeds. Subsequent to January 1, 2020, loans acquired in a business combination that have experienced more-than-insignificant deterioration in credit quality since origination are considered purchased credit deteriorated (“PCD”) loans. At the For acquired loans not deemed purchased credit deteriorated at acquisition, the differences between the initial fair value and the unpaid principal balance are recognized as interest income on a level-yield basis over the lives of the related loans. At the acquisition date, an initial allowance for expected credit losses is estimated and recorded as credit loss expense. The subsequent measurement of expected credit losses for all acquired loans is the same as the subsequent measurement of expected credit losses for originated loans. 22 The following table presents the activity in the allowance for credit losses based on portfolio segment for the three and nine months ended September 30, 2021 (in thousands): Construction and Land Development Agricultural Real Estate 1-4 Family Residential Properties Commercial Real Estate Agricultural Loans Commercial and Industrial Consumer Loans Total Three months ended September 30, 2021 Beginning balance $ 1,795 $ 1,665 $ 2,570 $ 25,664 $ 906 $ 19,842 $ 2,155 $ 54,597 Provision for credit loss expense 314 (408 ) 27 (52 ) (90 ) 342 970 1,103 Loans charged off — — 45 55 — 1,600 376 2,076 Recoveries collected — — 108 23 — 24 204 359 Ending balance $ 2,109 $ 1,257 $ 2,660 $ 25,580 $ 816 $ 18,608 $ 2,953 $ 53,983 Nine months ended September 30, 2021 Beginning balance $ 1,666 $ 1,084 $ 2,322 $ 19,660 $ 1,526 $ 13,485 $ 2,167 $ 41,910 Initial allowance on loans purchased with credit deterioration 261 44 328 646 — 795 — 2,074 Provision for credit loss expense 205 129 117 5,764 (711 ) 5,950 1,225 12,679 Loans charged off 23 — 241 535 — 1,686 1,008 3,493 Recoveries collected — — 134 45 1 64 569 813 Ending balance $ 2,109 $ 1,257 $ 2,660 $ 25,580 $ 816 $ 18,608 $ 2,953 $ 53,983 23 The following tables present the activity in the allowance for credit losses based on portfolio segment for the three and nine months ended September 30, 2020 and for the year ended December 31, 2020 (in thousands): Construction and Land Development Agricultural Real Estate 1-4 Family Residential Properties Commercial Real Estate Agricultural Loans Commercial and Industrial Consumer Loans Total Three months ended September 30, 2020 Beginning balance (prior to adoption of ASC 326) $ 2,358 $ 1,634 $ 2,486 $ 16,272 $ 1,323 $ 12,360 $ 1,948 $ 38,381 Provision for credit loss expense (139 ) 32 (71 ) 2,463 (89 ) 1,352 335 3,883 Loans charged off 13 — 48 — — 368 127 556 Recoveries collected — — 24 73 — 28 82 207 Ending balance $ 2,206 $ 1,666 $ 2,391 $ 18,808 $ 1,234 $ 13,372 $ 2,238 $ 41,915 Nine months ended September 30, 2020 Beginning balance (prior to adoption of ASC 326) $ 1,146 $ 1,093 $ 1,386 $ 11,198 $ 1,386 $ 9,273 $ 1,429 $ 26,911 Impact of adopting ASC 326 (113 ) 230 756 541 (363 ) 155 466 1,672 Provision for credit loss expense 1,186 343 335 7,542 211 5,453 430 15,500 Loans charged off 13 — 313 551 — 1,651 414 2,942 Recoveries collected — — 227 78 — 142 327 774 Ending balance $ 2,206 $ 1,666 $ 2,391 $ 18,808 $ 1,234 $ 13,372 $ 2,238 $ 41,915 Twelve months ended December 31, 2020 Beginning balance (prior to adoption of ASC 326) $ 1,146 $ 1,093 $ 1,386 $ 11,198 $ 1,386 $ 9,273 $ 1,429 $ 26,911 Impact of adopting ASC 326 (113 ) 230 756 541 (363 ) 155 466 1,672 Provision for credit loss expense 646 (239 ) 274 8,581 503 5,869 469 16,103 Loans charged off 13 — 393 829 — 1,991 618 3,844 Recoveries collected — — 299 169 — 179 421 1,068 Ending balance $ 1,666 $ 1,084 $ 2,322 $ 19,660 $ 1,526 $ 13,485 $ 2,167 $ 41,910 Consistent with regulatory guidance, charge-offs on all loan segments are taken when specific loans, or portions thereof, are considered uncollectible. The Company’s policy is to promptly charge these loans off in the period the uncollectible loss is reasonably determined. For all loan portfolio segments except 1-4 family residential properties and consumer, the Company promptly charges-off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For individually evaluated loans that are considered solely collateral dependent, a partial charge-off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral. The Company charges-off 1-4 family residential and consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to timeframes established by applicable regulatory guidance which provides for the charge-down of 1-4 family first and junior lien mortgages to the net realizable value less costs to sell when the loan is 180 days past due, charge-off of unsecured open-end loans when the loan is 180 days past due, and charge down to the net realizable value when other secured loans are 120 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off. 24 The following table presents the amortized cost basis of collateral-dependent loans by class of loans that were individually evaluated to determine expected credit losses, and the related allowance for credit losses, as of September 30, 2021 (in thousands): Collateral Allowance Real Estate Business Assets Other Total for Credit Losses Construction and land development $ 1,407 $ — $ — $ 1,407 $ 233 1-4 family residential properties 5,438 — — 5,438 245 Multifamily residential properties 1,805 — — 1,805 — Commercial real estate 10,830 — — 10,830 864 Loans secured by real estate 19,480 — — 19,480 1,342 Commercial and industrial loans — 2,146 1,067 3,213 1,190 Consumer loans — — 10 10 — Other loans — 24 — 24 — Total loans $ 19,480 $ 2,170 $ 1,077 $ 22,727 $ 2,532 Credit Quality The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, collateral support, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a continuous basis. The Company uses the following definitions for risk ratings which are commensurate with a loan considered “criticized”: Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current sound-worthiness and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, based on currently existing factors, conditions and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered pass rated loans. 25 The following tables present the credit risk profile of the Company’s loan portfolio on amortized cost basis based on risk rating category and year of origination as of September 30, 2021 (in thousands): Term Loans by Origination Year Revolving Risk rating 2021 2020 2019 2018 2017 Prior Loans Total September 30, 2021 Construction and land development loans Pass $ 33,540 $ 68,429 $ 26,623 $ 34,739 $ 3,841 $ 11,328 $ — $ 178,500 Special mention 112 — — — — — — 112 Substandard — — — 915 — 534 — 1,449 Total $ 33,652 $ 68,429 $ 26,623 $ 35,654 $ 3,841 $ 11,862 $ — $ 180,061 Agricultural real estate loans Pass $ 62,342 $ 65,820 $ 30,303 $ 36,823 $ 13,095 $ 57,580 $ — $ 265,963 Special mention 825 259 4,184 417 388 6,010 — 12,083 Substandard — — 265 189 57 231 — 742 Total $ 63,167 $ 66,079 $ 34,752 $ 37,429 $ 13,540 $ 63,821 $ — $ 278,788 1-4 family residential property loans Pass $ 73,424 $ 101,161 $ 36,828 $ 48,656 $ 33,013 $ 52,995 $ 42,664 $ 388,741 Special mention 80 149 1,952 505 2,628 1,054 56 6,424 Substandard 178 570 1,556 1,688 3,662 8,758 988 17,400 Total $ 73,682 $ 101,880 $ 40,336 $ 50,849 $ 39,303 $ 62,807 $ 43,708 $ 412,565 Commercial real estate loans Pass $ 357,285 $ 445,335 $ 310,825 $ 180,042 $ 161,629 $ 376,631 $ — $ 1,831,747 Special mention 3,369 886 1,198 1,418 10,726 15,251 — 32,848 Substandard 2,380 736 6,525 1,811 4,716 9,403 — 25,571 Total $ 363,034 $ 446,957 $ 318,548 $ 183,271 $ 177,071 $ 401,285 $ — $ 1,890,166 Agricultural loans Pass $ 75,148 $ 19,930 $ 5,582 $ 3,653 $ 1,074 $ 1,480 $ — $ 106,867 Special mention 15,568 436 2,957 155 160 65 — 19,341 Substandard 27 18 — — — 281 — 326 Total $ 90,743 $ 20,384 $ 8,539 $ 3,808 $ 1,234 $ 1,826 $ — $ 126,534 Commercial and industrial loans Pass $ 152,729 $ 184,801 $ 166,553 $ 77,324 $ 3,402 $ 384,318 $ — $ 969,127 Special mention 844 542 1,725 568 416 1,155 — 5,250 Substandard 428 711 448 1,588 71 1,968 — 5,214 Total $ 154,001 $ 186,054 $ 168,726 $ 79,480 $ 3,889 $ 387,441 $ — $ 979,591 Consumer loans Pass $ 20,854 $ 21,547 $ 27,317 $ 6,633 $ 2,640 $ 492 $ — $ 79,483 Special mention 21 78 55 10 — — — 164 Substandard 98 17 75 51 30 146 — 417 Total $ 20,973 $ 21,642 $ 27,447 $ 6,694 $ 2,670 $ 638 $ — $ 80,064 Total loans Pass $ 775,322 $ 907,023 $ 604,031 $ 387,870 $ 218,694 $ 884,824 $ 42,664 $ 3,820,428 Special mention 20,819 2,350 12,071 3,073 14,318 23,535 56 76,222 Substandard 3,111 2,052 8,869 6,242 8,536 21,321 988 51,119 Total $ 799,252 $ 911,425 $ 624,971 $ 397,185 $ 241,548 $ 929,680 $ 43,708 $ 3,947,769 26 The following tables present the credit risk profile of the Company’s loan portfolio based on risk rating category as of December 31, 2020 (in thousands): Term Loans by Origination Year Revolving Risk rating 2020 2019 2018 2017 2016 Prior Loans Total December 31, 2020 Construction and land development loans Pass $ 41,842 $ 40,989 $ 31,500 $ 2,760 $ 871 $ 3,822 $ — $ 121,784 Special mention — — — — — — — — Substandard — 128 — 517 — 50 — 695 Total $ 41,842 $ 41,117 $ 31,500 $ 3,277 $ 871 $ 3,872 $ — $ 122,479 Agricultural real estate loans Pass $ 73,630 $ 34,412 $ 37,839 $ 16,138 $ 13,559 $ 58,291 $ — $ 233,869 Special mention 1,845 3,970 533 469 1,106 11,232 — 19,155 Substandard — — 800 208 64 245 — 1,317 Total $ 75,475 $ 38,382 $ 39,172 $ 16,815 $ 14,729 $ 69,768 $ — $ 254,341 1-4 family residential property loans Pass $ 81,366 $ 29,695 $ 38,163 $ 23,086 $ 26,676 $ 62,942 $ 40,363 $ 302,291 Special mention 192 2,142 523 2,720 247 1,578 293 7,695 Substandard 296 695 1,915 1,859 1,996 7,516 1,499 15,776 Total $ 81,854 $ 32,532 $ 40,601 $ 27,665 $ 28,919 $ 72,036 $ 42,155 $ 325,762 Commercial real estate loans Pass $ 368,750 $ 237,119 $ 171,591 $ 148,283 $ 143,400 $ 215,616 $ — $ 1,284,759 Special mention 2,469 1,300 6,108 11,262 6,741 16,947 — 44,827 Substandard 1,863 40 7,081 2,022 4,905 18,435 — 34,346 Total $ 373,082 $ 238,459 $ 184,780 $ 161,567 $ 155,046 $ 250,998 $ — $ 1,363,932 Agricultural loans Pass $ 83,377 $ 15,680 $ 5,978 $ 1,838 $ 635 $ 2,856 $ — $ 110,364 Special mention 21,070 4,483 694 224 148 38 — 26,657 Substandard 68 238 25 — — — — 331 Total $ 104,515 $ 20,401 $ 6,697 $ 2,062 $ 783 $ 2,894 $ — $ 137,352 Commercial and industrial loans Pass $ 371,683 $ 132,148 $ 70,497 $ 78,890 $ 42,439 $ 114,904 $ — $ 810,561 Special mention 4,116 32,130 849 489 1,101 730 — 39,415 Substandard 889 2,360 532 1,689 136 969 — 6,575 Total $ 376,688 $ 166,638 $ 71,878 $ 81,068 $ 43,676 $ 116,603 $ — $ 856,551 Consumer loans Pass $ 31,609 $ 21,384 $ 12,084 $ 8,279 $ 3,150 $ 1,022 $ — $ 77,528 Special mention — 24 24 1 1 — — 50 Substandard 15 16 111 95 67 120 — 424 Total $ 31,624 $ 21,424 $ 12,219 $ 8,375 $ 3,218 $ 1,142 $ — $ 78,002 Total loans Pass $ 1,052,257 $ 511,427 $ 367,652 $ 279,274 $ 230,730 $ 459,453 $ 40,363 $ 2,941,156 Special mention 29,692 44,049 8,731 15,165 9,344 30,525 293 137,799 Substandard 3,131 3,477 10,464 6,390 7,168 27,335 1,499 59,464 Total $ 1,085,080 $ 558,953 $ 386,847 $ 300,829 $ 247,242 $ 517,313 $ 42,155 $ 3,138,419 27 The following table presents the Company’s loan portfolio aging analysis at September 30, 2021 and December 31, 2020 (in thousands): 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Total Loans > 90 Days and Accruing September 30, 2021 Construction and land development $ 458 $ 9 $ 642 $ 1,109 $ 178,952 $ 180,061 $ — Agricultural real |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Note 5 -- Goodwill and Intangible Assets The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of First Mid Wealth Management Company and First Mid Insurance. The following table presents gross carrying value and accumulated amortization by major intangible asset class as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Goodwill not subject to amortization (effective 1/1/02) $ 115,613 $ 3,760 $ 108,752 $ 3,760 Intangibles from branch acquisition 3,015 3,015 3,015 3,015 Core deposit intangibles 39,344 23,181 32,355 20,910 Other intangibles 20,561 6,376 16,389 5,222 $ 178,533 $ 36,332 $ 160,511 $ 32,907 During the second quarter of 2021, goodwill of $1.4 million was recorded for the acquisition of certain assets used by BBM & Associates Inc., in connection with its trucking insurance business. All of this goodwill was assigned to First Mid Insurance. Goodwill of $9 million was provisionally recorded for the acquisition and merger of LINCO Bancshares, Inc. (“LINCO”) during the first quarter of 2021. All of this goodwill was assigned to the banking segment of the Company. This goodwill was subsequently adjusted to $5.4 million to reflect adjustments made to finalize the purchase accounting. 31 The following table provides a reconciliation of the purchase price paid for the acquisition of LINCO and the amount of goodwill recorded (in thousands): Unallocated purchase price $ 12,248 Less purchase accounting adjustments: Fair value of securities $ 264 Fair value of loans, net (2,818 ) Fair value of other real estate owned 915 Fair value of premises and equipment 6,360 Fair value of time deposits (2,081 ) Fair value of FHLB advances (975 ) Core deposit intangible 2,025 Other assets 3,293 Other liabilities (184 ) 6,799 $ 5,449 The Company has mortgage servicing rights acquired in previous acquisitions. The following table summarizes the activity pertaining to mortgage servicing rights included in intangible assets as of September 30, 2021, September 30, 2020 and December 31, 2020 (in thousands): September 30, 2021 September 30, 2020 December 31, 2020 Beginning balance $ 516 $ 1,444 $ 1,444 Fair market value adjustment 474 (328 ) (273 ) Mortgage servicing rights amortized (528 ) (415 ) (593 ) Interest only strip (7 ) (40 ) (62 ) Ending balance $ 455 $ 661 $ 516 Total amortization expense for the three and nine months ended September 30, 2021 and 2020 was as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Core deposit intangibles $ 809 $ 804 $ 2,247 $ 2,468 Customer list intangibles 432 326 1,154 979 Mortgage servicing rights 173 147 528 415 $ 1,414 $ 1,277 $ 3,929 $ 3,862 Aggregate amortization expense for the current year and estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands): Aggregate amortization expense: For period 01/01/21-9/30/21 $ 3,929 Estimated amortization expense: For period 10/01/21-12/31/21 2,729 For year ended 12/31/22 5,119 For year ended 12/31/23 4,680 For year ended 12/31/24 4,292 For year ended 12/31/25 3,861 For year ended 12/31/26 3,091 32 In accordance with the provisions of SFAS No. 142, “ Goodwill and Other Intangible Assets ,” |
Repurchase Agreements and Other
Repurchase Agreements and Other Borrowings | 9 Months Ended |
Sep. 30, 2021 | |
Repurchase Agreements And Other Borrowings [Abstract] | |
Repurchase Agreements and Other Borrowings | Note 6 -- Repurchase Agreements and Other Borrowings Securities sold under agreements to repurchase were $149.9 million at September 30, 2021, a decrease of $57.0 million from $206.9 million at December 31, 2020. The decrease during the first nine months of 2021 was primarily due to changes in business cash flow needs. All the transactions have overnight maturities with a weighted average rate of 0.13%. The right of setoff for a repurchase agreement resembles a secured borrowing, whereby the collateral pledged by the Company would be used to settle the fair value of the repurchase agreement should the Company be in default (e.g., declare bankruptcy), the Company could cancel the repurchase agreement (i.e., cease payment of principal and interest), and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third-party financial institution in the counterparty's custodial account. The counterparty has the right to sell or repledge the investment securities. For government entity repurchase agreements, the collateral is held by the Company in a segregated custodial account under a tri-party agreement. The Company is required by the counterparty to maintain adequate collateral levels. In the event the collateral fair value falls below stipulated levels, the Company will pledge additional securities. The Company closely monitors collateral levels to ensure adequate levels are maintained, while mitigating the potential of over-collateralization in the event of counterparty default. Collateral pledged by class for repurchase agreements are as follows (in thousands): September 30, 2021 December 31, 2020 US Treasury securities and obligations of U.S. government corporations and agencies $ 56,324 $ 37,423 Mortgage-backed securities: GSE: residential 93,567 168,480 Miscellaneous — 1,034 Total $ 149,891 $ 206,937 33 FHLB borrowings, before net premiums of $700,000, were $111.9 million and $94 million at September 30, 2021 and December 31, 2020, respectively. At September 30, 2021 the advances were as follows: Advance Term (in years) Interest Rate Maturity Date $ 5,000,000 7.0 2.55% October 1, 2021 5,000,000 5.0 2.71% March 21, 2022 5,000,000 1.0 0.00% May 31, 2022 5,000,000 3.0 2.41% May 31, 2022 5,000,000 3.0 2.12% June 7, 2022 5,000,000 3.0 2.12% June 7, 2022 5,000,000 8.0 2.40% January 9, 2023 5,000,000 4.0 2.44% May 30, 2023 5,000,000 3.5 1.51% July 31, 2023 5,000,000 3.5 0.77% September 11, 2023 10,000,000 5.0 1.45% December 31, 2024 5,000,000 5.0 0.91% March 10, 2025 6,940,511 10.0 2.64% December 23, 2025 5,000,000 10.0 1.14% October 3, 2029 5,000,000 10.0 1.15% October 3, 2029 5,000,000 10.0 1.12% October 3, 2029 10,000,000 10.0 1.39% December 31, 2029 15,000,000 10.0 1.41% December 31, 2029 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities | Note 7 -- Fair Value of Assets and Liabilities Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities which use observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in active markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Following is a description of the inputs and valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. Available-for-Sale Securities. The fair value of available-for-sale securities is determined by various valuation methodologies. Where quoted market prices are available in an active market, securities are classified within Level 1. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independent sources of market parameters, including but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. Fair value determinations for Level 3 measurements of securities are the responsibility of the Treasury function of the Company. The Company contracts with a pricing specialist to generate fair value estimates on a monthly basis. The Treasury function of the Company challenges the reasonableness of the assumptions used and reviews the methodology to ensure the estimated fair value complies with accounting standards generally accepted in the United States, analyzes the changes in fair value and compares these changes to internally developed expectations and monitors these changes for appropriateness. Derivatives. The fair value of derivatives is based on models using observable market data as of the measurement date and are therefore classified in Level 2 of the valuation hierarchy. 34 The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of September 30, 2021 and December 31, 2020 (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value (Level 1) (Level 2) (Level 3) September 30, 2021 Available-for-sale securities: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 191,684 $ — $ 191,684 $ — Obligations of states and political subdivisions 338,744 — 338,128 616 Mortgage-backed securities 782,615 — 782,615 — Other securities 33,923 — 33,923 — Total available-for-sale securities 1,346,966 — 1,346,350 616 Equity securities 348 348 — — Derivative assets: interest rate swaps 35 — 35 — Total assets $ 1,347,349 $ 348 $ 1,346,385 $ 616 Derivative liabilities: interest rate swaps $ 899 $ — $ 899 $ — December 31, 2020 Available-for-sale securities: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 127,069 $ — $ 127,069 $ — Obligations of states and political subdivisions 249,844 — 249,050 794 Mortgage-backed securities 491,348 — 491,348 — Other securities 10,979 — 10,979 — Total available-for-sale securities 879,240 — 878,446 794 Equity securities 218 218 193 — Derivative assets: interest rate swaps 1,399 — 1,399 — Total assets $ 880,857 $ 218 $ 880,038 $ 794 Derivative liabilities: interest rate swaps $ 2,892 $ — $ 2,892 $ — The change in fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2021 and 2020 is summarized as follows (in thousands): Obligation of State and Political Subdivisions Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Beginning balance $ 615 $ 792 $ 794 $ 973 Transfers into Level 3 — — — — Transfers out of Level 3 — — — — Total gains or losses: Included in net income 1 1 3 4 Included in other comprehensive income (loss) — — — — Purchases, issuances, sales and settlements: Purchases — — — — Issuances — — — — Sales — — — — Settlements — — (181 ) (184 ) Ending balance $ 616 $ 793 $ 616 $ 793 Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date $ — $ — $ — $ — 35 Following is a description of the valuation methodologies used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. Collateral Dependent Loans. Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for determining the amount of impairment and estimating fair value include using the fair value of the collateral for collateral dependent loans. If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. Individually evaluated loans that are collateral dependent are classified within Level 3 of the fair value hierarchy when impairment is determined using the fair value method. Management establishes a specific allowance for individually evaluated loans that have an estimated fair value that is below the carrying value. The total carrying amount of loans for which a change in specific allowance has occurred as of September 30, 2021 was $16,035,000 and a fair value of $13,682,000 resulting in specific loss exposures of $2,353,000. When there is little prospect of collecting principal or interest, loans, or portions of loans, may be charged-off to the allowance for credit losses. Losses are recognized in the period an obligation becomes uncollectible. The recognition of a loss 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 partial recovery may be affected in the future. Foreclosed Assets Held For Sale. Other real estate owned acquired through loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for credit losses. Due to the subjective nature of establishing the fair value when the asset is acquired, the actual fair value of the other real estate owned, or foreclosed asset could differ from the original estimate. If it is determined that fair value declines subsequent to foreclosure, a valuation allowance is recorded through noninterest expense. Operating costs associated with the assets after acquisition are also recorded as noninterest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other noninterest expense. The total carrying amount of other real estate owned as of September 30, 2021 was $5,625,000. Other real estate owned included in the total carrying amount and measured at fair value on a nonrecurring basis during the period amounted to $1,720,000 Mortgage Servicing Rights. As of September 30, 2021, mortgage servicing rights had a carrying value of $570,000 and a fair value of $455,000 resulting in a valuation reserve of $115,000. The fair value used to determine the valuation reserve for mortgage servicing rights was estimated using the discounted cash flow models. The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2021 and December 31, 2020 (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value (Level 1) (Level 2) (Level 3) September 30, 2021 Collateral dependent loans $ 13,682 $ — $ — $ 13,682 Foreclosed assets held for sale 1,720 — — 1,720 Mortgage servicing rights 455 — — 455 December 31, 2020 Collateral dependent loans $ 14,876 $ — $ — $ 14,876 Foreclosed assets held for sale 290 — — 290 Mortgage servicing rights 516 — — 517 36 Sensitivity of Significant Unobservable Inputs The following table presents quantitative information about unobservable inputs used in Level 3 fair value measurements other than goodwill at September 30, 2021. September 30, 2021 Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Collateral dependent loans $ 13,682 Third party valuations Discount to reflect realizable value 0% - 40% 20% Foreclosed assets held for sale 1,720 Third party valuations Discount to reflect realizable value less estimated selling costs 0% - 40% 35% Mortgage servicing rights 455 Third party valuations PSA standard prepayment model rate 230 - 438 281 December 31, 2020 Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Collateral dependent loans $ 14,876 Third party valuations Discount to reflect realizable value 0% - 40% 20% Foreclosed assets held for sale 290 Third party valuations Discount to reflect realizable value less estimated selling costs 0% - 40% 35% Mortgage servicing rights 517 Third party valuations PSA standard prepayment model rate 242 - 441 384 37 The following tables present estimated fair values of the Company’s financial instruments at September 30, 2021 and December 31, 2020 in accordance with ASC 825 (in thousands): Carrying Amount Fair Value Level 1 Level 2 Level 3 September 30, 2021 Financial assets Cash and due from banks $ 343,859 $ 343,859 $ 343,859 $ — $ — Federal funds sold 1,347 1,347 1,347 — — Certificates of deposit investments 2,695 2,695 — 2,695 — Available-for-sale securities 1,346,966 1,346,966 — 1,346,351 615 Held-to-maturity securities 7,026 7,057 2,022 5,035 — Equity securities 348 348 348 — — Loans held for sale 1,897 1,897 — 1,897 — Loans net of allowance for credit losses 3,891,889 3,830,149 — — 3,830,149 Interest receivable 22,057 22,057 — 22,057 — Federal Reserve Bank stock 13,845 13,845 — 13,845 — Federal Home Loan Bank stock 6,528 6,528 — 6,528 — Financial liabilities Deposits $ 4,988,562 $ 4,991,225 $ — $ 4,347,567 $ 643,658 Securities sold under agreements to repurchase 149,891 149,896 — 149,896 — Interest payable 2,569 2,569 — 2,569 — Federal Home Loan Bank borrowings 112,641 113,205 — 113,205 — Subordinated debt, net 94,363 94,363 94,363 Junior subordinated debentures, net 19,153 14,528 — 14,528 — December 31, 2020 Financial assets Cash and due from banks $ 415,973 $ 415,973 $ 415,973 $ — $ — Federal funds sold 1,308 1,308 1,308 — — Certificates of deposit investments 2,695 2,695 — 2,695 — Available-for-sale securities 879,240 879,240 — 878,446 794 Held-to-maturity securities 5,016 5,119 — 5,119 — Equity securities 218 218 218 — — Loans held for sale 1,924 1,924 — 1,924 — Loans net of allowance for credit losses 3,094,585 3,056,344 — — 3,056,344 Interest receivable 19,287 19,287 — 19,287 — Federal Reserve Bank stock 9,401 9,401 — 9,401 — Federal Home Loan Bank stock 5,450 5,450 — 5,450 — Financial liabilities Deposits $ 3,692,784 $ 3,697,105 $ — $ 3,215,715 $ 481,390 Securities sold under agreements to repurchase 206,937 206,945 — 206,945 — Interest payable 2,345 2,345 — 2,345 — Federal Home Loan Bank borrowings 93,969 96,669 — 96,669 — Subordinated debt, net 94,253 94,253 — 94,253 — Junior subordinated debentures, net 19,027 14,604 — 14,604 — |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2021 | |
Business Combinations [Abstract] | |
Business Combinations | Note 8 – Business Combinations On September 25, 2020, the Company and Eval Sub Inc., a newly formed Illinois corporation and wholly-owned subsidiary of the Company ("Eval Merger Sub"), entered into an Agreement and Plan of Merger (the "LINCO Merger Agreement") with LINCO Bancshares, Inc., a Missouri corporation ("LINCO"), and the sellers as defined therein, pursuant to which, among other things, the Company agreed to acquire 100% of the issued and outstanding shares of LINCO pursuant to a business combination whereby Eval Merger Sub merged with and into LINCO, whereupon the separate corporate existence of Merger Sub ceased and LINCO continued as the surviving company and a wholly-owned subsidiary of the Company (the "LINCO Merger"). The LINCO Merger closed on February 22, 2021. Subject to the terms and conditions of the LINCO Merger Agreement, at the effective time of the LINCO Merger, each share of common stock, par value $1.00 per share, of LINCO issued and outstanding immediately prior to the effective time of the LINCO Merger (other than shares held in treasury by LINCO) was converted into and become the right to receive, cash or shares of common 38 stock, par value $ 4.00 per share, of the Company and cash in lieu of fractional shares, less any applicable taxes required to be withheld, and subject to certain potential adjustments. On an aggregate basis, the total consideration paid by the Company at the closing of the LINCO Merger was $ 103.5 million in cash and 1,262,246 shares of the Company’s common stock. In addition, immediately prior to the closing of the proposed merger, LINCO paid a special dividend to its shareholders in the aggregate amount of $ 13 million. The acquisition was accounted for under the acquisition method of accounting in accordance with ASC 805, “Business Combinations ("ASC 805"),” Acquired Fair Value As Recorded by (In thousands) Book Value Adjustments Providence Bank Assets Cash and due from banks $ 130,561 $ — $ 130,561 Investment securities 119,234 264 119,498 Loans 838,377 (9,401 ) 828,976 Allowance for credit losses (8,656 ) 6,583 (2,073 ) Other real estate owned 8,435 915 9,350 Premises and equipment 23,440 6,360 29,800 Goodwill 20,503 (15,054 ) 5,449 Core deposit intangible 123 2,025 2,148 Right of use asset — 794 794 Other assets 43,697 2,499 46,196 Total assets acquired $ 1,175,714 $ (5,015 ) $ 1,170,699 Liabilities Deposits $ 988,329 $ 2,081 $ 990,410 Securities sold under agreements to repurchase — — — FHLB advances 26,941 975 27,916 Other borrowings — — — Lease liability — 794 794 Other liabilities 4,498 (610 ) 3,888 Total liabilities assumed 1,019,768 3,240 1,023,008 Net assets acquired $ 155,946 $ (8,255 ) $ 147,691 Consideration paid Cash $ 103,500 Common stock 44,191 $ 147,691 39 The Company has recognized approximately $9.0 million, pre-tax, of acquisition costs for the LINCO acquisition. Of this amount, $8.5 million was recognized during the first nine months of 2021. These costs are included in salaries and benefits, legal and professional and other expense. Of the $9.4 million adjustment to loans, $11.1 million is being accreted to interest income over the remaining term of the loans. The remaining $1.7 million was the elimination of deferred fees and unearned discounts previously recorded by Providence Bank. The Company also recorded approximately $2 million directly to the allowance for credit losses for loans identified as PCD. Of the $838 million of loans acquired, approximately $64.6 million was identified as PCD. The differences between fair value and acquired value of the assumed time deposits of $2.1 million and the assumed FHLB advances of $975,000, are being amortized to interest expense over the remaining life of the liabilities. The core deposit intangible assets, with a fair value of $2.1 million, are being amortized on an accelerated basis over its estimated life of 10 years. The following unaudited pro forma condensed combined financial information presents the results of operations of the Company, including the effects of the purchase accounting adjustments and acquisition expenses, had the LINCO acquisition taken place at the beginning of the period (dollars in thousands, except per share data): Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Net interest income $ 45,496 $ 43,717 $ 131,713 $ 127,341 Provision for loan losses 1,103 4,211 12,879 17,379 Non-interest income 16,359 15,439 53,504 48,214 Non-interest expense 36,321 36,100 124,133 113,461 Income before taxes 24,431 18,845 48,205 44,715 Income tax expense (benefit) 6,105 4,753 11,052 10,865 Net income (loss) $ 18,326 $ 14,092 $ 37,153 $ 33,850 Earnings per share Basic $ 1.01 $ 0.78 $ 2.08 $ 1.88 Diluted 1.01 0.78 2.08 1.88 Basic weighted average shares o/s 18,083,126 17,990,437 17,819,619 17,972,731 Diluted weighted average shares o/s 18,136,146 18,037,345 17,872,639 18,019,639 |
Leases
Leases | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Leases | Note 9 -- Leases Effective January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842). As of September 30, 2021, substantially all the Company's leases are operating leases for real estate property for bank branches, ATM locations, and office space. These leases are generally for periods of 1 to 25 years with various renewal options. The Company elected the optional transition method permitted by Topic 842. Under this method, the Company recognizes and measures leases that exist at the application date and prior comparative periods are not adjusted. In addition, the Company elected the package of practical expedients: 1. An entity need not reassess whether any expired or existing contracts contain leases. 2. An entity need not reassess the lease classification for any expired or existing leases. 3. An entity need not reassess initial direct costs for any existing leases. 40 The Company has also elected the practical expedient, which may be elected separately or in conjunction with the package noted above, to use hindsight in determining the lease term and in assessing the right-of-use assets. This expedient must be applied consistently to all leases. Lastly, the Company has elected to use the practical expedient to include both lease and non-lease components as a single component and account for it as a lease. In addition, the Company has elected to not include short-term leases (i.e. leases with terms of twelve months or less) or equipment leases (primarily copiers) deemed immaterial, on the consolidated balance sheets. For leases in effect at January 1, 2019 and for leases commencing thereafter, the Company recognizes a lease liability and a right-of-use asset, based on the present value of lease payments over the lease term. The discount rate used in determining present value was the Company's incremental borrowing rate which is the FHLB fixed advance rate based on the remaining lease term as of January 1, 2019, or the commencement date for leases subsequently entered into. The following table contains supplemental balance sheet information related to leases (dollars in thousands): September 30, 2021 September 30, 2020 December 31, 2020 Operating lease right-of-use assets $ 16,120 $ 16,703 $ 17,209 Operating lease liabilities 16,315 16,817 17,351 Weighted-average remaining lease term (in years) 6.7 6.5 7.3 Weighted-average discount rate 2.64 % 2.81 % 2.85 % Certain of the Company's leases contain options to renew the lease; however, not all renewal options are included in the calculation of lease liabilities as they are not reasonably certain to be exercised. The Company's leases do not contain residual value guarantees or material variable lease payments. The Company does not have any other material restrictions or covenants imposed by leases that would impact the Company's ability to pay dividends or cause the Company to incur additional financial obligations. Maturities of lease liabilities were as follows (in thousands): Year ending December 31, 2021 $ 720 2022 2,679 2023 2,356 2024 1,945 2025 1,632 Thereafter 9,193 Total lease payments 18,525 Less imputed interest (2,210 ) Total lease liability $ 16,315 The components of lease expense for the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Operating lease cost $ 604 $ 762 $ 2,052 $ 2,207 Short-term lease cost 11 14 96 42 Variable lease cost 373 180 622 376 Total lease cost 988 956 2,770 2,625 Income from subleases (132 ) (185 ) (452 ) (577 ) Net lease cost $ 856 $ 771 $ 2,318 $ 2,048 As the Company elected not to separate lease and non-lease components, the variable lease cost primarily represents variable payment such as common area maintenance and copier expense. The Company does not have any material sub-lease agreements. Cash paid for amounts included in the measurement of lease liabilities was (in thousands): September 30, 2021 September 30, 2020 Operating cash flows from operating leases $ 2,161 $ 2,092 |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives | Note 10 – Derivatives The Company utilizes an interest rate swap, designated as a fair value hedge, to mitigate the risk of changing interest rates on the fair value of a fixed rate commercial real estate loan. For derivative instruments that are designed and qualify as a fair value hedge, the 41 gain or loss on the derivative instrument, as well as the offsetting loss or gain in the hedged asset attributable to the hedged risk, is recognized in current earnings. Derivatives Designated as Hedging Instruments The following table provides the outstanding notional balances and fair values of outstanding derivatives designated as hedging instruments as of September 30, 2021 and December 31, 2020 (in thousands): Balance Sheet Location Weighted Average Remaining Maturity (Years) Notional Amount Estimated Value September 30, 2021 Fair value hedges: Interest rate swap agreements Other liabilities 7.6 years $ 14,057 $ (899 ) December 31, 2020 Fair value hedges: Interest rate swap agreements Other liabilities 8.3 years $ 14,334 $ (2,892 ) The effects of the fair value hedges on the Company's income statement during the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands): Three months ended September 30, Nine months ended September 30, Derivative Location of Gain (Loss) on Derivatives 2021 2020 2021 2020 Interest rate swap agreements Interest income on loans $ (38 ) $ 38 $ (629 ) $ (1,218 ) Three months ended September 30, Nine months ended September 30, Derivative Location of Gain (Loss) on Hedged Items 2021 2020 2021 2020 Interest rate swap agreements Interest income on loans $ 38 $ (38 ) $ 629 $ 1,218 As of September 30, 2021, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustment for fair value hedges (in thousands): Line Item in the Balance Sheet in Which the Hedge Item is Included Carrying Amount of the Hedged Asset Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset Loans $ 13,192 $ 864 Derivatives Not Designated as Hedging Instruments The following amounts represent the notional amounts and gross fair value of derivative contracts not designated as hedging instruments outstanding during the nine months ended September 30, 2021 (dollars in thousands): September 30, 2021 Balance Sheet Location Weighted Average Remaining Maturity (Years) Notional Amount Estimated Value Interest rate swap agreements Other assets 6.3 $ 41,333 $ 35 Interest rate swap agreements Other liabilities 6.3 41,333 (35 ) 42 |
Basis of Accounting and Conso_2
Basis of Accounting and Consolidation (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Accounting and Consolidation | The unaudited condensed consolidated financial statements include the accounts of First Mid Bancshares, Inc. (“Company”) formerly known as First Mid-Illinois Bancshares, Inc., and its wholly owned subsidiaries: First Mid Bank & Trust, N.A. (“First Wealth The unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements and related footnote disclosures although the Company believes that the disclosures made are adequate to make the information not misleading. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2020 Annual Report on Form 10-K. |
COVID-19 | COVID-19 The COVID-19 outbreak is an unprecedented event that provides significant economic uncertainty for a broad spectrum of industries. The Company is focused on supporting its customers, communities and employees during this unique operating environment. Throughout this document, the Company describes the impact COVID-19 is having, actions taken as a result of COVID-19, and certain risks to the Company that COVID-19 creates or exacerbates, as well as management's outlook on the current COVID-19 situation. |
Delta Bancshares Company | Delta Bancshares Company On July 28, 2021, the Company and Brock Sub LLC, a newly formed Delaware limited liability company and wholly-owned subsidiary of the Company (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Delta Bancshares Company, a Missouri corporation (“Delta”), pursuant to which, among other things, the Company agreed to acquire 100% of the issued and outstanding shares of Delta pursuant to a business combination whereby Delta will merge with and into Merger Sub, whereupon the separate corporate existence of Delta will cease and Merger Sub will continue as the surviving company and a wholly-owned subsidiary of First Mid (the “Merger”). Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger, each share of common stock, par value $10.00 per share, of Delta issued and outstanding immediately prior to the effective time of the Merger (other than shares held in treasury by Delta) will be converted into and become the right to receive cash and shares of common stock, par value $4.00 per share, of the Company and cash in lieu of fractional shares, less any applicable taxes required to be withheld, and subject to certain potential adjustments. On an aggregate basis, the total consideration payable by the Company at the closing of the Merger to Delta’s shareholders and option holders is approximately $15.2 million in cash and 2,282,511 shares of Company common stock. Delta’s outstanding stock options will fully vest upon consummation of the Merger, and all outstanding Delta options that are unexercised prior to the effective time of the Merger will be cashed out. It is anticipated that Delta’s wholly owned bank subsidiary, Jefferson Bank and Trust Company (“Jefferson Bank”), will be merged with and into First Mid Bank at a date following completion of the Merger. At the time of the bank merger, Jefferson Bank’s banking offices will become branches of First Mid Bank. As of September 30, 2021, Jefferson Bank had total consolidated assets of approximately $668 million, loans of approximately, $448 million and total deposits of approximately $511 million. The Merger is anticipated to be completed in the fourth quarter of 2021 and is subject to the approval of the appropriate regulatory authorities and the shareholders of Delta. The shareholders of Delta voted in favor of the Merger on October 28, 2021. |
Subordinated Debt Offering | Subordinated Debt Offering On October 6, 2020, the Company issued and sold $96.0 million in aggregate principal amount of its 3.95% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Notes were issued pursuant to the Indenture, dated as of October 6, 2020 (the “Base Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture, dated as of October 6, 2020 (the “Supplemental Indenture”), between the Company and the Trustee. The Base Indenture, as amended and supplemented by the Supplemental Indenture, governs the terms of the Notes and provides that the Notes are unsecured, subordinated debt obligations of the Company and will mature on October 15, 2030. From and including the date of issuance to, but excluding October 15, 2025, the Notes will bear interest at an initial rate of 3.95% per annum. From and including October 15, 2025 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month Term SOFR plus a spread of 383 basis points, or such other rate as determined pursuant to the Supplemental Indenture, provided that in no event shall the applicable floating interest rate be less than zero per annum. The Company may, beginning with the interest payment date of October 15, 2025, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the Notes at any time, including prior to October 15, 2025, at the Company’s option, in whole but not in part, if: (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the Notes for U.S. federal income tax purposes; (ii) a subsequent event occurs that could preclude the Notes from being recognized as Tier 2 capital for regulatory capital purposes; or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended; in each case, at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to but excluding the redemption date. |
General Litigation | General Litigation The Company is subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on the consolidated financial position, results of operations and cash flows of the Company. |
Loan Purchase | 2020 Loan Purchase On April 21, 2020, First Mid Bank completed an acquisition of loans in the St. Louis Metro market totaling $183,000,000. There were no loans purchased with deteriorated credit. First Mid Bank also assumed $60,000,000 of related customer deposits 2021 Loan Purchase On September 10, 2021, First Mid Bank completed an acquisition of loans in the St. Louis Metro market totaling $208,000,000. There were no loans purchased with deteriorated credit. First Mid Bank also assumed $215,000,000 of related customer deposits and recorded a core deposit intangible asset of approximately $4,848,000 that is being amortized on an accelerated basis over ten years. 11 |
Stock Plans | Stock Plans At ten-year Following the stockholders’ approval at the 2021 annual meeting of the Company, a maximum of 399,983 shares of common stock may be issued under the SI Plan. There have been no stock options awarded under 27,750 25,200 2020 2020 |
Employee Stock Purchase Plan | Employee Stock Purchase Plan At the Annual Meeting of Stockholders held April 25, 2018, the stockholders approved the First Mid-Illinois Bancshares, Inc. Employee A 600,000 ESPP. September 30, 2021 2020 8,439 ESPP. |
Captive Insurance Company | Captive Insurance Company First “ |
Bank Owned Life Insurance | Bank Owned Life Insurance First Mid Bank has purchased life insurance policies on certain senior management. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts that are probable at settlement. |
Revenue Recognition | Revenue Recognition Accounting Revenue from Contracts with Customers Trust revenues. The Company generates fee income from providing fiduciary services through its subsidiary, First Mid Wealth Management Company. Fees are billed in arrears based upon the preceding period account balance. Revenue from farm management services is recorded when the service is complete, for example when crops are sold. Brokerage commissions. Revenue is recorded at the beginning of each quarter through billing to customers based on the account asset size on the last day of the previous quarter. If a withdrawal of funds takes place, a prorated refund may occur; this is reflected within the same quarter as the original billing occurred. All performance obligations are met within the same quarter that the revenue is recorded. 12 Insurance commissions. The Company’s insurance agency subsidiary, First Mid Insurance, receives commissions on premiums of new and renewed business policies. First Mid Insurance records commission revenue on direct bill policies as the cash is received. For agency bill policies, First Mid Insurance retains its commission portion of the customer premium payment and remits the balance to the carrier. In both cases, the entire performance obligation is held by the carriers. Service charges on deposits. The Company generates revenue from fees charged for deposit account maintenance, overdrafts, wire transfers, and check fees. The revenue related to deposit fees is recognized at the time the performance obligation is satisfied. ATM/debit card revenue. The Company generates revenue through service charges on the use of its ATM machines and interchange income from the use of Company issued credit and debit cards. The revenue is recognized at the time the service is used and the performance obligation is satisfied. Other income. Treasury management fees and lock box fees are received and recorded after the service performance obligation is completed. Merchant bank card fees are received from various vendors; however, the performance obligation is with the vendors. The Company records gains on the sale of loans and the sale of OREO properties after the transactions are complete and transfer of ownership has occurred. As each of the Company’s facilities is in markets with similar economies, no disaggregation of revenue is necessary. |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income The components of accumulated other comprehensive income included in stockholders’ equity as of September 30, 2021 and December 31, 2020 are as follows (in Unrealized Gain (Loss) on Securities September 30, 2021 Net unrealized gains on securities available-for-sale $ 7,934 Tax expense (2,301 ) Balance at September 30, 2021 $ 5,633 December 31, 2020 Net unrealized gains on securities available-for-sale $ 24,077 Tax expense (6,982 ) Balance at December 31, 2020 $ 17,095 Amounts reclassified from accumulated other comprehensive income and the affected line items in the statements of income during the three and nine months ended September 30, 2021 and 2020, were as follows (in thousands): Amounts Reclassified from Other Comprehensive Income Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Affected Line Item in the Statements of Income Realized gains on available-for-sale securities $ 11 $ 95 $ 88 $ 913 Securities gains, net Tax effect (3 ) (28 ) (26 ) (265 ) Income taxes Total reclassifications out of accumulated other comprehensive income $ 8 $ 67 $ 62 $ 648 Net reclassified amount See “Note 3 – Investment Securities” for more detailed information regarding unrealized losses on available-for-sale securities. |
Adoption of New Accounting Guidance | Adoption of New Accounting Guidance Accounting Standards Update 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). In August 2018, FASB issued ASU 2018-13. This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, an entity will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019. As ASU 2018-13 only revises disclosure requirements, it did not have a material impact on the Company’s consolidated financial statements. Accounting Standards Update 2016-13, Financial Instruments - Credit Losses In June 2016, FASB issued ASU 2016-13. The provisions of ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for sale debt securities. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. Management formed an internal, cross functional committee in 2017 to evaluate implementation steps and assess the impact ASU 2016-13 would have on the Company’s consolidated financial statements. The committee assigned roles and responsibilities, key tasks to complete, and established a general time-line for implementation. The Company also engaged an The Company adopted ASU 2016-13 using the modified retrospective method for financial assets measured at amortized cost-effective January 1, 2020. Results for the periods beginning after January 1, 2020 are presented under ASU 2016-13 while prior period amounts are reported in accordance with the previously applicable accounting standards. The Company recorded a reduction to retained earnings of approximately $717,000 upon adoption of ASU 2016-13. The transition adjustment included an increase to the allowance for credit losses on loans of $1.7 million and an increase to the allowance for credit losses on off-balance sheet credit exposure of $69,000. There was no allowance for credit losses recorded for held-to- maturity debt securities. The transition adjustment included corresponding increases in deferred tax assets. The Company adopted ASU 2016-13 using the prospective transition approach for financial assets considered purchased credit deteriorated ("PCD") that were previously classified as purchase credit impaired ("PCI") and accounted for under ASC 310-30 effective January 1, 2020. In accordance with the standard, the Company did not reassess whether the PCI assets met the criteria of PCD assets as of the adoption date. The amortized cost of the PCD assets were adjusted to reflect the addition of $833,000 to the allowance for credit losses. The remaining noncredit discount (based on the adjusted amortized cost) will be accreted into interest income at the effective interest rate over the remaining life of the assets. The following table illustrates the impact of ASU 2016-13 adoption (in thousands): January 1, 2020 As reported Pre-ASU Impact of ASU under ASU 2016-13 2016-13 2016-13 Adoption Adoption Assets: Construction and land development $ 1,033 $ 1,146 $ (113 ) Agricultural real estate 1,323 1,093 230 1-4 family residential properties 2,142 1,386 756 Commercial real estate 11,739 11,198 541 Agricultural 1,023 1,386 (363 ) Commercial and industrial 9,428 9,273 155 Consumer 1,895 1,429 466 Allowance for credit losses for all loans $ 28,583 $ 26,911 $ 1,672 Liabilities: Allowance for credit losses on off-balance sheet exposures $ 69 $ — $ 69 14 T he following table illustrates the impact of ASU 2013-13 adoption for PCD assets previously classified as PCI included in the table above (in thousands): January 1, 2020 As reported Pre-ASU Impact of ASU under ASU 2016-13 2016-13 2016-13 Adoption Adoption Construction and land development $ 291 $ — $ 291 1-4 family residential properties 48 6 42 Commercial real estate 818 359 459 Commercial and industrial 41 — 41 Allowance for credit losses for PCD loans $ 1,198 $ 365 $ 833 |
Basis of Accounting and Conso_3
Basis of Accounting and Consolidation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Schedule of Components of Accumulated Other Comprehensive Income | The components of accumulated other comprehensive income included in stockholders’ equity as of September 30, 2021 and December 31, 2020 are as follows (in Unrealized Gain (Loss) on Securities September 30, 2021 Net unrealized gains on securities available-for-sale $ 7,934 Tax expense (2,301 ) Balance at September 30, 2021 $ 5,633 December 31, 2020 Net unrealized gains on securities available-for-sale $ 24,077 Tax expense (6,982 ) Balance at December 31, 2020 $ 17,095 |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income | Amounts reclassified from accumulated other comprehensive income and the affected line items in the statements of income during the three and nine months ended September 30, 2021 and 2020, were as follows (in thousands): Amounts Reclassified from Other Comprehensive Income Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Affected Line Item in the Statements of Income Realized gains on available-for-sale securities $ 11 $ 95 $ 88 $ 913 Securities gains, net Tax effect (3 ) (28 ) (26 ) (265 ) Income taxes Total reclassifications out of accumulated other comprehensive income $ 8 $ 67 $ 62 $ 648 Net reclassified amount |
ASU 2016-13 | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Schedule of Impact of ASU 2016-13 Adoption | The following table illustrates the impact of ASU 2016-13 adoption (in thousands): January 1, 2020 As reported Pre-ASU Impact of ASU under ASU 2016-13 2016-13 2016-13 Adoption Adoption Assets: Construction and land development $ 1,033 $ 1,146 $ (113 ) Agricultural real estate 1,323 1,093 230 1-4 family residential properties 2,142 1,386 756 Commercial real estate 11,739 11,198 541 Agricultural 1,023 1,386 (363 ) Commercial and industrial 9,428 9,273 155 Consumer 1,895 1,429 466 Allowance for credit losses for all loans $ 28,583 $ 26,911 $ 1,672 Liabilities: Allowance for credit losses on off-balance sheet exposures $ 69 $ — $ 69 T he following table illustrates the impact of ASU 2013-13 adoption for PCD assets previously classified as PCI included in the table above (in thousands): January 1, 2020 As reported Pre-ASU Impact of ASU under ASU 2016-13 2016-13 2016-13 Adoption Adoption Construction and land development $ 291 $ — $ 291 1-4 family residential properties 48 6 42 Commercial real estate 818 359 459 Commercial and industrial 41 — 41 Allowance for credit losses for PCD loans $ 1,198 $ 365 $ 833 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Components of Basic and Diluted Net Income per Common Share | The components of basic and diluted net income per common share available to common stockholders for the three and nine months ended September 30, 2021 and 2020 were as follows: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Basic net income per common share Available to common stockholders: Net income $ 18,326,000 $ 11,565,000 $ 34,656,000 $ 31,701,000 Weighted average common shares outstanding 18,083,126 16,728,191 17,819,619 16,710,485 Basic earnings per common share $ 1.01 $ 0.69 $ 1.94 $ 1.90 Diluted net income per common share Available to common stockholders: Net income applicable to diluted earnings per share $ 18,326,000 $ 11,565,000 $ 34,656,000 $ 31,701,000 Weighted average common shares outstanding 18,083,126 16,728,191 17,819,619 16,710,485 Dilutive potential common shares: restricted stock awarded 53,020 46,908 53,020 46,908 Diluted weighted average common shares outstanding 18,136,146 16,775,099 17,872,639 16,757,393 Diluted earnings per common share $ 1.01 $ 0.69 $ 1.94 $ 1.89 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Available for Sale and Held for Maturity Securities | The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at September 30, 2021 and December 31, 2020 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value September 30, 2021 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 194,162 $ 308 $ (2,786 ) $ 191,684 Obligations of states and political subdivisions 328,394 11,310 (960 ) 338,744 Mortgage-backed securities: GSE residential 783,400 6,300 (7,085 ) 782,615 Other securities 33,076 883 (36 ) 33,923 Total available-for-sale $ 1,339,032 $ 18,801 $ (10,867 ) $ 1,346,966 Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 5,004 $ 31 $ — $ 5,035 Other securities 2,022 — — 2,022 Total held-to-maturity $ 7,026 $ 31 $ — $ 7,057 December 31, 2020 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 127,067 $ 790 $ (788 ) $ 127,069 Obligations of states and political subdivisions 237,886 11,995 (37 ) 249,844 Mortgage-backed securities: GSE residential 479,470 12,038 (160 ) 491,348 Other securities 10,740 252 (13 ) 10,979 Total available-for-sale $ 855,163 $ 25,075 $ (998 ) $ 879,240 Held-to-maturity: U.S. Treasury securities and obligations of U.S government corporations and agencies $ 5,016 $ 103 $ — $ 5,119 |
Realized Gains and Losses From Sale of Securities | Realized gains and losses resulting from sales of securities were as follows during the three and nine months ended September 30, 2021 and 2020 (in thousands): Three months September 30, Nine months September 30, 2021 2020 2021 2020 Gross gains $ 11 $ 116 $ 88 $ 934 Gross losses — (21 ) — (21 ) |
Investments Classified by Contractual Maturity Date | The following table indicates the expected maturities of investment securities classified as available-for-sale presented at fair value, and held-to-maturity presented at amortized cost, at September 30, 2021 and the weighted average yield for each range of maturities (dollars in thousands): One year or less After 1 through 5 years After 5 through 10 years After ten years Total Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 116,855 $ 63,561 $ 11,268 $ — $ 191,684 Obligations of state and political subdivisions 24,335 82,566 224,078 7,765 338,744 Mortgage-backed securities: GSE residential 17,950 410,157 354,508 — 782,615 Other securities 6,055 24,860 3,008 — 33,923 Total available-for-sale investments $ 165,195 $ 581,144 $ 592,862 $ 7,765 $ 1,346,966 Weighted average yield 1.61 % 1.95 % 1.68 % 2.43 % 1.79 % Full tax-equivalent yield 1.78 % 2.10 % 1.94 % 3.16 % 2.00 % Held to maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 5,004 $ — $ — $ — $ 5,004 Other securities — 2,022 2,022 Total held-to-maturity $ 5,004 $ — $ — $ 2,022 $ 7,026 Weighted average yield 2.06 % — % — % — % 2.06 % Full tax-equivalent yield 2.06 % — % — % — % 2.06 % |
Fair Value of Investments with Sustained Gross Unrealized Losses | The following table presents the aging of gross unrealized losses and fair value by investment category as of September 30, 2021 and December 31, 2020 (in thousands): Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2021 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 145,432 $ (2,435 ) $ 9,649 $ (351 ) $ 155,081 $ (2,786 ) Obligations of states and political subdivisions 87,767 (960 ) — — 87,767 (960 ) Mortgage-backed securities: GSE residential 508,332 (7,084 ) 93 (1 ) 508,425 (7,085 ) Other securities 11,057 (36 ) — — 11,057 (36 ) Total $ 752,588 $ (10,515 ) $ 9,742 $ (352 ) $ 762,330 $ (10,867 ) December 31, 2020 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 59,211 $ (788 ) $ — $ — $ 59,211 $ (788 ) Obligations of states and political subdivisions 5,380 (37 ) — — 5,380 (37 ) Mortgage-backed securities: GSE residential 57,609 (160 ) 2,377 — 59,986 (160 ) Other securities 3,977 (13 ) — — 3,977 (13 ) Total $ 126,177 $ (998 ) $ 2,377 $ — $ 128,554 $ (998 ) |
Loans and Allowance for Credi_2
Loans and Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Summary of Loans | A summary of loans at September 30, 2021 and December 31, 2020 follows (in thousands): September 30, 2021 December 31, 2020 Construction and land development $ 179,792 $ 122,853 Agricultural real estate 278,432 254,662 1-4 family residential properties 412,320 325,480 Multifamily residential properties 306,966 189,265 Commercial real estate 1,583,583 1,176,290 Loans secured by real estate 2,761,093 2,068,550 Agricultural loans 126,473 137,333 Commercial and industrial loans 839,630 741,819 Consumer loans 80,779 78,023 All other loans 143,724 118,196 Total gross loans 3,951,699 3,143,921 Less: loans held for sale 1,897 1,924 3,949,802 3,141,997 Less: Net deferred loan fees, premiums and discounts 3,930 5,502 Allowance for credit losses 53,983 41,910 Net loans $ 3,891,889 $ 3,094,585 |
Allowance for Credit Losses Based on Portfolio Segment | 22 The following table presents the activity in the allowance for credit losses based on portfolio segment for the three and nine months ended September 30, 2021 (in thousands): Construction and Land Development Agricultural Real Estate 1-4 Family Residential Properties Commercial Real Estate Agricultural Loans Commercial and Industrial Consumer Loans Total Three months ended September 30, 2021 Beginning balance $ 1,795 $ 1,665 $ 2,570 $ 25,664 $ 906 $ 19,842 $ 2,155 $ 54,597 Provision for credit loss expense 314 (408 ) 27 (52 ) (90 ) 342 970 1,103 Loans charged off — — 45 55 — 1,600 376 2,076 Recoveries collected — — 108 23 — 24 204 359 Ending balance $ 2,109 $ 1,257 $ 2,660 $ 25,580 $ 816 $ 18,608 $ 2,953 $ 53,983 Nine months ended September 30, 2021 Beginning balance $ 1,666 $ 1,084 $ 2,322 $ 19,660 $ 1,526 $ 13,485 $ 2,167 $ 41,910 Initial allowance on loans purchased with credit deterioration 261 44 328 646 — 795 — 2,074 Provision for credit loss expense 205 129 117 5,764 (711 ) 5,950 1,225 12,679 Loans charged off 23 — 241 535 — 1,686 1,008 3,493 Recoveries collected — — 134 45 1 64 569 813 Ending balance $ 2,109 $ 1,257 $ 2,660 $ 25,580 $ 816 $ 18,608 $ 2,953 $ 53,983 23 The following tables present the activity in the allowance for credit losses based on portfolio segment for the three and nine months ended September 30, 2020 and for the year ended December 31, 2020 (in thousands): Construction and Land Development Agricultural Real Estate 1-4 Family Residential Properties Commercial Real Estate Agricultural Loans Commercial and Industrial Consumer Loans Total Three months ended September 30, 2020 Beginning balance (prior to adoption of ASC 326) $ 2,358 $ 1,634 $ 2,486 $ 16,272 $ 1,323 $ 12,360 $ 1,948 $ 38,381 Provision for credit loss expense (139 ) 32 (71 ) 2,463 (89 ) 1,352 335 3,883 Loans charged off 13 — 48 — — 368 127 556 Recoveries collected — — 24 73 — 28 82 207 Ending balance $ 2,206 $ 1,666 $ 2,391 $ 18,808 $ 1,234 $ 13,372 $ 2,238 $ 41,915 Nine months ended September 30, 2020 Beginning balance (prior to adoption of ASC 326) $ 1,146 $ 1,093 $ 1,386 $ 11,198 $ 1,386 $ 9,273 $ 1,429 $ 26,911 Impact of adopting ASC 326 (113 ) 230 756 541 (363 ) 155 466 1,672 Provision for credit loss expense 1,186 343 335 7,542 211 5,453 430 15,500 Loans charged off 13 — 313 551 — 1,651 414 2,942 Recoveries collected — — 227 78 — 142 327 774 Ending balance $ 2,206 $ 1,666 $ 2,391 $ 18,808 $ 1,234 $ 13,372 $ 2,238 $ 41,915 Twelve months ended December 31, 2020 Beginning balance (prior to adoption of ASC 326) $ 1,146 $ 1,093 $ 1,386 $ 11,198 $ 1,386 $ 9,273 $ 1,429 $ 26,911 Impact of adopting ASC 326 (113 ) 230 756 541 (363 ) 155 466 1,672 Provision for credit loss expense 646 (239 ) 274 8,581 503 5,869 469 16,103 Loans charged off 13 — 393 829 — 1,991 618 3,844 Recoveries collected — — 299 169 — 179 421 1,068 Ending balance $ 1,666 $ 1,084 $ 2,322 $ 19,660 $ 1,526 $ 13,485 $ 2,167 $ 41,910 |
Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans Individually Evaluated | 24 The following table presents the amortized cost basis of collateral-dependent loans by class of loans that were individually evaluated to determine expected credit losses, and the related allowance for credit losses, as of September 30, 2021 (in thousands): Collateral Allowance Real Estate Business Assets Other Total for Credit Losses Construction and land development $ 1,407 $ — $ — $ 1,407 $ 233 1-4 family residential properties 5,438 — — 5,438 245 Multifamily residential properties 1,805 — — 1,805 — Commercial real estate 10,830 — — 10,830 864 Loans secured by real estate 19,480 — — 19,480 1,342 Commercial and industrial loans — 2,146 1,067 3,213 1,190 Consumer loans — — 10 10 — Other loans — 24 — 24 — Total loans $ 19,480 $ 2,170 $ 1,077 $ 22,727 $ 2,532 |
Credit Risk Profile of Loan Portfolio on Amortized Cost Basis Based on Risk Rating Category | 25 The following tables present the credit risk profile of the Company’s loan portfolio on amortized cost basis based on risk rating category and year of origination as of September 30, 2021 (in thousands): Term Loans by Origination Year Revolving Risk rating 2021 2020 2019 2018 2017 Prior Loans Total September 30, 2021 Construction and land development loans Pass $ 33,540 $ 68,429 $ 26,623 $ 34,739 $ 3,841 $ 11,328 $ — $ 178,500 Special mention 112 — — — — — — 112 Substandard — — — 915 — 534 — 1,449 Total $ 33,652 $ 68,429 $ 26,623 $ 35,654 $ 3,841 $ 11,862 $ — $ 180,061 Agricultural real estate loans Pass $ 62,342 $ 65,820 $ 30,303 $ 36,823 $ 13,095 $ 57,580 $ — $ 265,963 Special mention 825 259 4,184 417 388 6,010 — 12,083 Substandard — — 265 189 57 231 — 742 Total $ 63,167 $ 66,079 $ 34,752 $ 37,429 $ 13,540 $ 63,821 $ — $ 278,788 1-4 family residential property loans Pass $ 73,424 $ 101,161 $ 36,828 $ 48,656 $ 33,013 $ 52,995 $ 42,664 $ 388,741 Special mention 80 149 1,952 505 2,628 1,054 56 6,424 Substandard 178 570 1,556 1,688 3,662 8,758 988 17,400 Total $ 73,682 $ 101,880 $ 40,336 $ 50,849 $ 39,303 $ 62,807 $ 43,708 $ 412,565 Commercial real estate loans Pass $ 357,285 $ 445,335 $ 310,825 $ 180,042 $ 161,629 $ 376,631 $ — $ 1,831,747 Special mention 3,369 886 1,198 1,418 10,726 15,251 — 32,848 Substandard 2,380 736 6,525 1,811 4,716 9,403 — 25,571 Total $ 363,034 $ 446,957 $ 318,548 $ 183,271 $ 177,071 $ 401,285 $ — $ 1,890,166 Agricultural loans Pass $ 75,148 $ 19,930 $ 5,582 $ 3,653 $ 1,074 $ 1,480 $ — $ 106,867 Special mention 15,568 436 2,957 155 160 65 — 19,341 Substandard 27 18 — — — 281 — 326 Total $ 90,743 $ 20,384 $ 8,539 $ 3,808 $ 1,234 $ 1,826 $ — $ 126,534 Commercial and industrial loans Pass $ 152,729 $ 184,801 $ 166,553 $ 77,324 $ 3,402 $ 384,318 $ — $ 969,127 Special mention 844 542 1,725 568 416 1,155 — 5,250 Substandard 428 711 448 1,588 71 1,968 — 5,214 Total $ 154,001 $ 186,054 $ 168,726 $ 79,480 $ 3,889 $ 387,441 $ — $ 979,591 Consumer loans Pass $ 20,854 $ 21,547 $ 27,317 $ 6,633 $ 2,640 $ 492 $ — $ 79,483 Special mention 21 78 55 10 — — — 164 Substandard 98 17 75 51 30 146 — 417 Total $ 20,973 $ 21,642 $ 27,447 $ 6,694 $ 2,670 $ 638 $ — $ 80,064 Total loans Pass $ 775,322 $ 907,023 $ 604,031 $ 387,870 $ 218,694 $ 884,824 $ 42,664 $ 3,820,428 Special mention 20,819 2,350 12,071 3,073 14,318 23,535 56 76,222 Substandard 3,111 2,052 8,869 6,242 8,536 21,321 988 51,119 Total $ 799,252 $ 911,425 $ 624,971 $ 397,185 $ 241,548 $ 929,680 $ 43,708 $ 3,947,769 26 The following tables present the credit risk profile of the Company’s loan portfolio based on risk rating category as of December 31, 2020 (in thousands): Term Loans by Origination Year Revolving Risk rating 2020 2019 2018 2017 2016 Prior Loans Total December 31, 2020 Construction and land development loans Pass $ 41,842 $ 40,989 $ 31,500 $ 2,760 $ 871 $ 3,822 $ — $ 121,784 Special mention — — — — — — — — Substandard — 128 — 517 — 50 — 695 Total $ 41,842 $ 41,117 $ 31,500 $ 3,277 $ 871 $ 3,872 $ — $ 122,479 Agricultural real estate loans Pass $ 73,630 $ 34,412 $ 37,839 $ 16,138 $ 13,559 $ 58,291 $ — $ 233,869 Special mention 1,845 3,970 533 469 1,106 11,232 — 19,155 Substandard — — 800 208 64 245 — 1,317 Total $ 75,475 $ 38,382 $ 39,172 $ 16,815 $ 14,729 $ 69,768 $ — $ 254,341 1-4 family residential property loans Pass $ 81,366 $ 29,695 $ 38,163 $ 23,086 $ 26,676 $ 62,942 $ 40,363 $ 302,291 Special mention 192 2,142 523 2,720 247 1,578 293 7,695 Substandard 296 695 1,915 1,859 1,996 7,516 1,499 15,776 Total $ 81,854 $ 32,532 $ 40,601 $ 27,665 $ 28,919 $ 72,036 $ 42,155 $ 325,762 Commercial real estate loans Pass $ 368,750 $ 237,119 $ 171,591 $ 148,283 $ 143,400 $ 215,616 $ — $ 1,284,759 Special mention 2,469 1,300 6,108 11,262 6,741 16,947 — 44,827 Substandard 1,863 40 7,081 2,022 4,905 18,435 — 34,346 Total $ 373,082 $ 238,459 $ 184,780 $ 161,567 $ 155,046 $ 250,998 $ — $ 1,363,932 Agricultural loans Pass $ 83,377 $ 15,680 $ 5,978 $ 1,838 $ 635 $ 2,856 $ — $ 110,364 Special mention 21,070 4,483 694 224 148 38 — 26,657 Substandard 68 238 25 — — — — 331 Total $ 104,515 $ 20,401 $ 6,697 $ 2,062 $ 783 $ 2,894 $ — $ 137,352 Commercial and industrial loans Pass $ 371,683 $ 132,148 $ 70,497 $ 78,890 $ 42,439 $ 114,904 $ — $ 810,561 Special mention 4,116 32,130 849 489 1,101 730 — 39,415 Substandard 889 2,360 532 1,689 136 969 — 6,575 Total $ 376,688 $ 166,638 $ 71,878 $ 81,068 $ 43,676 $ 116,603 $ — $ 856,551 Consumer loans Pass $ 31,609 $ 21,384 $ 12,084 $ 8,279 $ 3,150 $ 1,022 $ — $ 77,528 Special mention — 24 24 1 1 — — 50 Substandard 15 16 111 95 67 120 — 424 Total $ 31,624 $ 21,424 $ 12,219 $ 8,375 $ 3,218 $ 1,142 $ — $ 78,002 Total loans Pass $ 1,052,257 $ 511,427 $ 367,652 $ 279,274 $ 230,730 $ 459,453 $ 40,363 $ 2,941,156 Special mention 29,692 44,049 8,731 15,165 9,344 30,525 293 137,799 Substandard 3,131 3,477 10,464 6,390 7,168 27,335 1,499 59,464 Total $ 1,085,080 $ 558,953 $ 386,847 $ 300,829 $ 247,242 $ 517,313 $ 42,155 $ 3,138,419 27 |
Loan Portfolio Aging Analysis | The following table presents the Company’s loan portfolio aging analysis at September 30, 2021 and December 31, 2020 (in thousands): 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Total Loans > 90 Days and Accruing September 30, 2021 Construction and land development $ 458 $ 9 $ 642 $ 1,109 $ 178,952 $ 180,061 $ — Agricultural real estate 23 — 94 117 278,671 278,788 — 1-4 family residential properties 2,205 865 4,313 7,383 405,182 412,565 — Multifamily residential properties — 35 544 579 306,332 306,911 — Commercial real estate 1,920 1,154 3,354 6,428 1,576,827 1,583,255 — Loans secured by real estate 4,606 2,063 8,947 15,616 2,745,964 2,761,580 — Agricultural loans 735 152 588 1,475 125,059 126,534 — Commercial and industrial loans 550 726 2,367 3,643 832,217 835,860 — Consumer loans 387 122 136 645 79,419 80,064 — All other loans — — — — 143,731 143,731 — Total loans $ 6,278 $ 3,063 $ 12,038 $ 21,379 $ 3,926,390 $ 3,947,769 $ — December 31, 2020 Construction and land development $ — $ — $ 128 $ 128 $ 122,351 $ 122,479 $ — Agricultural real estate 1,198 34 — 1,232 253,109 254,341 — 1-4 family residential properties 1,121 1,105 2,033 4,259 321,503 325,762 — Multifamily residential properties — — — — 189,632 189,632 — Commercial real estate 2,618 341 794 3,753 1,170,547 1,174,300 — Loans secured by real estate 4,937 1,480 2,955 9,372 2,057,142 2,066,514 — Agricultural loans 43 — 236 279 137,073 137,352 — Commercial and industrial loans 2,426 8 1,420 3,854 734,459 738,313 — Consumer loans 145 50 149 344 77,658 78,002 — All other loans — — — — 118,238 118,238 — Total loans $ 7,551 $ 1,538 $ 4,760 $ 13,849 $ 3,124,570 $ 3,138,419 $ — |
Amortized Cost Basis of Loans on Nonaccrual Status and Nonaccrual Loans Individually Evaluated | The following table presents the amortized cost basis of loans on nonaccrual status and of nonaccrual loans individually evaluated for which no allowance was recorded as of September 30, 2021 and December 31, 2020 (in thousands). There were no loans past due over eighty-nine days that were still accruing. September 30, 2021 December 31, 2020 Nonaccrual with no Allowance for Total Nonaccrual with no Allowance for Total Credit Loss Nonaccrual Credit Loss Nonaccrual Construction and land development $ 943 $ 943 $ 162 $ 162 Agricultural real estate 338 338 359 359 1-4 family residential properties 7,179 7,232 6,747 6,930 Multifamily residential properties 2,047 2,047 2,181 2,181 Commercial real estate 8,141 8,525 7,345 8,760 Loans secured by real estate 18,648 19,085 16,794 18,392 Agricultural loans 236 236 659 659 Commercial and industrial loans 1,886 3,891 3,677 4,372 Consumer loans 233 233 327 327 All other loans — — — — Total loans $ 21,003 $ 23,445 $ 21,457 $ 23,750 |
Recorded Balance of Troubled Debt Restructurings | The following table presents the Company’s recorded balance of troubled debt restructurings at September 30, 2021 and December 31, 2020 (in thousands). Troubled debt restructurings: September 30, 2021 December 31, 2020 Construction and land development $ 492 $ — Agricultural real estate 250 — 1-4 family residential properties 1,507 1,603 Commercial real estate 3,873 5,170 Loans secured by real estate 6,122 6,773 Agricultural loans 384 228 Commercial and industrial loans 1,059 2,389 Consumer loans 118 112 All other loans 24 — Total $ 7,707 $ 9,502 Performing troubled debt restructurings: Agricultural real estate $ 250 $ — 1-4 family residential properties 887 1,268 Commercial real estate 2,572 3,045 Loans secured by real estate 3,709 4,313 Agricultural loans 156 — Commercial and industrial loans 335 58 Consumer loans 54 2 All other loans 24 — Total $ 4,278 $ 4,373 |
Loans Modified as Troubled Debt Restructurings During Period | The following table presents loans modified as TDRs during the nine months ended September 30, 2021, as a result of various modified loan factors (in thousands). The change in the recorded investment from pre-modification to post- modification was not material. September 30, 2021 September 30, 2020 Number of Recorded Type of Number of Recorded Type of Modifications Investment Modifications Modifications Investment Modifications Construction and land development 1 $ 492 (c) — $ — Agricultural real estate 1 250 (b) — — 1-4 family residential properties 2 323 (b)(c) — — Commercial real estate 1 681 (b) 1 296 (b) Loans secured by real estate 5 1,746 1 296 Agricultural loans 1 156 (b) 2 88 (b)(c) Commercial and industrial loans 6 287 (b) 4 2,328 (b) Consumer loans 4 54 (b) 1 11 (b) Other Loans 1 24 (b) — — Total 17 $ 2,267 8 $ 2,723 Type of modifications: (a) Reduction of stated interest rate of loan (b) Change in payment terms (c) Extension of maturity date (d) Permanent reduction of the recorded investment 30 |
Summary of Purchased Credit Deteriorated (PCD) Loans | The Company has acquired loans, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows (in thousands): LINCO Acquisition Purchase price of purchase credit deteriorated loans at acquisition $ 64,647 Allowance for credit losses at acquisition (2,074 ) Non-credit discount/(premium) at acquisition (187 ) Fair value of purchased credit deteriorated loans at acquisition $ 62,386 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Schedule of Intangible Assets and Goodwill | The following table presents gross carrying value and accumulated amortization by major intangible asset class as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Goodwill not subject to amortization (effective 1/1/02) $ 115,613 $ 3,760 $ 108,752 $ 3,760 Intangibles from branch acquisition 3,015 3,015 3,015 3,015 Core deposit intangibles 39,344 23,181 32,355 20,910 Other intangibles 20,561 6,376 16,389 5,222 $ 178,533 $ 36,332 $ 160,511 $ 32,907 |
Intangible Assets Mortgage Servicing Rights | The Company has mortgage servicing rights acquired in previous acquisitions. The following table summarizes the activity pertaining to mortgage servicing rights included in intangible assets as of September 30, 2021, September 30, 2020 and December 31, 2020 (in thousands): September 30, 2021 September 30, 2020 December 31, 2020 Beginning balance $ 516 $ 1,444 $ 1,444 Fair market value adjustment 474 (328 ) (273 ) Mortgage servicing rights amortized (528 ) (415 ) (593 ) Interest only strip (7 ) (40 ) (62 ) Ending balance $ 455 $ 661 $ 516 |
Schedule of Intangible Assets Amortization Expense | Total amortization expense for the three and nine months ended September 30, 2021 and 2020 was as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Core deposit intangibles $ 809 $ 804 $ 2,247 $ 2,468 Customer list intangibles 432 326 1,154 979 Mortgage servicing rights 173 147 528 415 $ 1,414 $ 1,277 $ 3,929 $ 3,862 |
Schedule of Expected Amortization Expense | Aggregate amortization expense for the current year and estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands): Aggregate amortization expense: For period 01/01/21-9/30/21 $ 3,929 Estimated amortization expense: For period 10/01/21-12/31/21 2,729 For year ended 12/31/22 5,119 For year ended 12/31/23 4,680 For year ended 12/31/24 4,292 For year ended 12/31/25 3,861 For year ended 12/31/26 3,091 |
LINCO Bancshares, Inc. | |
Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded | 31 The following table provides a reconciliation of the purchase price paid for the acquisition of LINCO and the amount of goodwill recorded (in thousands): Unallocated purchase price $ 12,248 Less purchase accounting adjustments: Fair value of securities $ 264 Fair value of loans, net (2,818 ) Fair value of other real estate owned 915 Fair value of premises and equipment 6,360 Fair value of time deposits (2,081 ) Fair value of FHLB advances (975 ) Core deposit intangible 2,025 Other assets 3,293 Other liabilities (184 ) 6,799 $ 5,449 |
Repurchase Agreements and Oth_2
Repurchase Agreements and Other Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Repurchase Agreements And Other Borrowings [Abstract] | |
Schedule of Securities Financing Transactions | Collateral pledged by class for repurchase agreements are as follows (in thousands): September 30, 2021 December 31, 2020 US Treasury securities and obligations of U.S. government corporations and agencies $ 56,324 $ 37,423 Mortgage-backed securities: GSE: residential 93,567 168,480 Miscellaneous — 1,034 Total $ 149,891 $ 206,937 |
Federal Home Loan Bank, Advances | FHLB borrowings, before net premiums of $700,000, were $111.9 million and $94 million at September 30, 2021 and December 31, 2020, respectively. At September 30, 2021 the advances were as follows: Advance Term (in years) Interest Rate Maturity Date $ 5,000,000 7.0 2.55% October 1, 2021 5,000,000 5.0 2.71% March 21, 2022 5,000,000 1.0 0.00% May 31, 2022 5,000,000 3.0 2.41% May 31, 2022 5,000,000 3.0 2.12% June 7, 2022 5,000,000 3.0 2.12% June 7, 2022 5,000,000 8.0 2.40% January 9, 2023 5,000,000 4.0 2.44% May 30, 2023 5,000,000 3.5 1.51% July 31, 2023 5,000,000 3.5 0.77% September 11, 2023 10,000,000 5.0 1.45% December 31, 2024 5,000,000 5.0 0.91% March 10, 2025 6,940,511 10.0 2.64% December 23, 2025 5,000,000 10.0 1.14% October 3, 2029 5,000,000 10.0 1.15% October 3, 2029 5,000,000 10.0 1.12% October 3, 2029 10,000,000 10.0 1.39% December 31, 2029 15,000,000 10.0 1.41% December 31, 2029 |
Fair Value of Assets and Liab_2
Fair Value of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value on Recurring Basis | 34 The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of September 30, 2021 and December 31, 2020 (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value (Level 1) (Level 2) (Level 3) September 30, 2021 Available-for-sale securities: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 191,684 $ — $ 191,684 $ — Obligations of states and political subdivisions 338,744 — 338,128 616 Mortgage-backed securities 782,615 — 782,615 — Other securities 33,923 — 33,923 — Total available-for-sale securities 1,346,966 — 1,346,350 616 Equity securities 348 348 — — Derivative assets: interest rate swaps 35 — 35 — Total assets $ 1,347,349 $ 348 $ 1,346,385 $ 616 Derivative liabilities: interest rate swaps $ 899 $ — $ 899 $ — December 31, 2020 Available-for-sale securities: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 127,069 $ — $ 127,069 $ — Obligations of states and political subdivisions 249,844 — 249,050 794 Mortgage-backed securities 491,348 — 491,348 — Other securities 10,979 — 10,979 — Total available-for-sale securities 879,240 — 878,446 794 Equity securities 218 218 193 — Derivative assets: interest rate swaps 1,399 — 1,399 — Total assets $ 880,857 $ 218 $ 880,038 $ 794 Derivative liabilities: interest rate swaps $ 2,892 $ — $ 2,892 $ — |
Fair Value of Assets Measured on a Recurring Basis Using Significant Unobservable Inputs | The change in fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2021 and 2020 is summarized as follows (in thousands): Obligation of State and Political Subdivisions Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Beginning balance $ 615 $ 792 $ 794 $ 973 Transfers into Level 3 — — — — Transfers out of Level 3 — — — — Total gains or losses: Included in net income 1 1 3 4 Included in other comprehensive income (loss) — — — — Purchases, issuances, sales and settlements: Purchases — — — — Issuances — — — — Sales — — — — Settlements — — (181 ) (184 ) Ending balance $ 616 $ 793 $ 616 $ 793 Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date $ — $ — $ — $ — |
Assets Measured at Fair Value on a Nonrecurring Basis | The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2021 and December 31, 2020 (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value (Level 1) (Level 2) (Level 3) September 30, 2021 Collateral dependent loans $ 13,682 $ — $ — $ 13,682 Foreclosed assets held for sale 1,720 — — 1,720 Mortgage servicing rights 455 — — 455 December 31, 2020 Collateral dependent loans $ 14,876 $ — $ — $ 14,876 Foreclosed assets held for sale 290 — — 290 Mortgage servicing rights 516 — — 517 |
Significant Unobservable Inputs Used in Valuation of Level 3 Fair Value Measurements | The following table presents quantitative information about unobservable inputs used in Level 3 fair value measurements other than goodwill at September 30, 2021. September 30, 2021 Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Collateral dependent loans $ 13,682 Third party valuations Discount to reflect realizable value 0% - 40% 20% Foreclosed assets held for sale 1,720 Third party valuations Discount to reflect realizable value less estimated selling costs 0% - 40% 35% Mortgage servicing rights 455 Third party valuations PSA standard prepayment model rate 230 - 438 281 December 31, 2020 Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Collateral dependent loans $ 14,876 Third party valuations Discount to reflect realizable value 0% - 40% 20% Foreclosed assets held for sale 290 Third party valuations Discount to reflect realizable value less estimated selling costs 0% - 40% 35% Mortgage servicing rights 517 Third party valuations PSA standard prepayment model rate 242 - 441 384 |
Summary of Estimated Fair Values of Company Financial Instruments | The following tables present estimated fair values of the Company’s financial instruments at September 30, 2021 and December 31, 2020 in accordance with ASC 825 (in thousands): Carrying Amount Fair Value Level 1 Level 2 Level 3 September 30, 2021 Financial assets Cash and due from banks $ 343,859 $ 343,859 $ 343,859 $ — $ — Federal funds sold 1,347 1,347 1,347 — — Certificates of deposit investments 2,695 2,695 — 2,695 — Available-for-sale securities 1,346,966 1,346,966 — 1,346,351 615 Held-to-maturity securities 7,026 7,057 2,022 5,035 — Equity securities 348 348 348 — — Loans held for sale 1,897 1,897 — 1,897 — Loans net of allowance for credit losses 3,891,889 3,830,149 — — 3,830,149 Interest receivable 22,057 22,057 — 22,057 — Federal Reserve Bank stock 13,845 13,845 — 13,845 — Federal Home Loan Bank stock 6,528 6,528 — 6,528 — Financial liabilities Deposits $ 4,988,562 $ 4,991,225 $ — $ 4,347,567 $ 643,658 Securities sold under agreements to repurchase 149,891 149,896 — 149,896 — Interest payable 2,569 2,569 — 2,569 — Federal Home Loan Bank borrowings 112,641 113,205 — 113,205 — Subordinated debt, net 94,363 94,363 94,363 Junior subordinated debentures, net 19,153 14,528 — 14,528 — December 31, 2020 Financial assets Cash and due from banks $ 415,973 $ 415,973 $ 415,973 $ — $ — Federal funds sold 1,308 1,308 1,308 — — Certificates of deposit investments 2,695 2,695 — 2,695 — Available-for-sale securities 879,240 879,240 — 878,446 794 Held-to-maturity securities 5,016 5,119 — 5,119 — Equity securities 218 218 218 — — Loans held for sale 1,924 1,924 — 1,924 — Loans net of allowance for credit losses 3,094,585 3,056,344 — — 3,056,344 Interest receivable 19,287 19,287 — 19,287 — Federal Reserve Bank stock 9,401 9,401 — 9,401 — Federal Home Loan Bank stock 5,450 5,450 — 5,450 — Financial liabilities Deposits $ 3,692,784 $ 3,697,105 $ — $ 3,215,715 $ 481,390 Securities sold under agreements to repurchase 206,937 206,945 — 206,945 — Interest payable 2,345 2,345 — 2,345 — Federal Home Loan Bank borrowings 93,969 96,669 — 96,669 — Subordinated debt, net 94,253 94,253 — 94,253 — Junior subordinated debentures, net 19,027 14,604 — 14,604 — |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Business Combinations [Abstract] | |
Estimated Fair Values of Assets Acquired and Liabilities Assumed | Acquired Fair Value As Recorded by (In thousands) Book Value Adjustments Providence Bank Assets Cash and due from banks $ 130,561 $ — $ 130,561 Investment securities 119,234 264 119,498 Loans 838,377 (9,401 ) 828,976 Allowance for credit losses (8,656 ) 6,583 (2,073 ) Other real estate owned 8,435 915 9,350 Premises and equipment 23,440 6,360 29,800 Goodwill 20,503 (15,054 ) 5,449 Core deposit intangible 123 2,025 2,148 Right of use asset — 794 794 Other assets 43,697 2,499 46,196 Total assets acquired $ 1,175,714 $ (5,015 ) $ 1,170,699 Liabilities Deposits $ 988,329 $ 2,081 $ 990,410 Securities sold under agreements to repurchase — — — FHLB advances 26,941 975 27,916 Other borrowings — — — Lease liability — 794 794 Other liabilities 4,498 (610 ) 3,888 Total liabilities assumed 1,019,768 3,240 1,023,008 Net assets acquired $ 155,946 $ (8,255 ) $ 147,691 Consideration paid Cash $ 103,500 Common stock 44,191 $ 147,691 39 |
Unaudited Pro Forma Condensed Combined Financial Information | The following unaudited pro forma condensed combined financial information presents the results of operations of the Company, including the effects of the purchase accounting adjustments and acquisition expenses, had the LINCO acquisition taken place at the beginning of the period (dollars in thousands, except per share data): Three months ended September 30, 2021 Three months ended September 30, 2020 Nine months ended September 30, 2021 Nine months ended September 30, 2020 Net interest income $ 45,496 $ 43,717 $ 131,713 $ 127,341 Provision for loan losses 1,103 4,211 12,879 17,379 Non-interest income 16,359 15,439 53,504 48,214 Non-interest expense 36,321 36,100 124,133 113,461 Income before taxes 24,431 18,845 48,205 44,715 Income tax expense (benefit) 6,105 4,753 11,052 10,865 Net income (loss) $ 18,326 $ 14,092 $ 37,153 $ 33,850 Earnings per share Basic $ 1.01 $ 0.78 $ 2.08 $ 1.88 Diluted 1.01 0.78 2.08 1.88 Basic weighted average shares o/s 18,083,126 17,990,437 17,819,619 17,972,731 Diluted weighted average shares o/s 18,136,146 18,037,345 17,872,639 18,019,639 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Summary of Supplemental Balance Sheet Information | The following table contains supplemental balance sheet information related to leases (dollars in thousands): September 30, 2021 September 30, 2020 December 31, 2020 Operating lease right-of-use assets $ 16,120 $ 16,703 $ 17,209 Operating lease liabilities 16,315 16,817 17,351 Weighted-average remaining lease term (in years) 6.7 6.5 7.3 Weighted-average discount rate 2.64 % 2.81 % 2.85 % |
Summary of Maturities of Lease Liabilities | Maturities of lease liabilities were as follows (in thousands): Year ending December 31, 2021 $ 720 2022 2,679 2023 2,356 2024 1,945 2025 1,632 Thereafter 9,193 Total lease payments 18,525 Less imputed interest (2,210 ) Total lease liability $ 16,315 |
Summary of Components of Lease Expense | The components of lease expense for the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Operating lease cost $ 604 $ 762 $ 2,052 $ 2,207 Short-term lease cost 11 14 96 42 Variable lease cost 373 180 622 376 Total lease cost 988 956 2,770 2,625 Income from subleases (132 ) (185 ) (452 ) (577 ) Net lease cost $ 856 $ 771 $ 2,318 $ 2,048 |
Summary of Operating Lease Cash Flows | Cash paid for amounts included in the measurement of lease liabilities was (in thousands): September 30, 2021 September 30, 2020 Operating cash flows from operating leases $ 2,161 $ 2,092 |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Derivative [Line Items] | |
Summary of Derivative Instruments, Gain (Loss) | The effects of the fair value hedges on the Company's income statement during the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands): Three months ended September 30, Nine months ended September 30, Derivative Location of Gain (Loss) on Derivatives 2021 2020 2021 2020 Interest rate swap agreements Interest income on loans $ (38 ) $ 38 $ (629 ) $ (1,218 ) Three months ended September 30, Nine months ended September 30, Derivative Location of Gain (Loss) on Hedged Items 2021 2020 2021 2020 Interest rate swap agreements Interest income on loans $ 38 $ (38 ) $ 629 $ 1,218 |
Summary of Cumulative Basis Adjustment of Fair Value Hedges | As of September 30, 2021, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustment for fair value hedges (in thousands): Line Item in the Balance Sheet in Which the Hedge Item is Included Carrying Amount of the Hedged Asset Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset Loans $ 13,192 $ 864 |
Not Designated as Hedging Instrument | |
Derivative [Line Items] | |
Summary of Fair Value Derivative Instruments | The following amounts represent the notional amounts and gross fair value of derivative contracts not designated as hedging instruments outstanding during the nine months ended September 30, 2021 (dollars in thousands): September 30, 2021 Balance Sheet Location Weighted Average Remaining Maturity (Years) Notional Amount Estimated Value Interest rate swap agreements Other assets 6.3 $ 41,333 $ 35 Interest rate swap agreements Other liabilities 6.3 41,333 (35 ) |
Fair Value Hedging | Designated As Hedging Instrument | |
Derivative [Line Items] | |
Summary of Fair Value Derivative Instruments | The following table provides the outstanding notional balances and fair values of outstanding derivatives designated as hedging instruments as of September 30, 2021 and December 31, 2020 (in thousands): Balance Sheet Location Weighted Average Remaining Maturity (Years) Notional Amount Estimated Value September 30, 2021 Fair value hedges: Interest rate swap agreements Other liabilities 7.6 years $ 14,057 $ (899 ) December 31, 2020 Fair value hedges: Interest rate swap agreements Other liabilities 8.3 years $ 14,334 $ (2,892 ) |
Basis of Accounting and Conso_4
Basis of Accounting and Consolidation - Additional Information (Details) - USD ($) | Sep. 10, 2021 | Jul. 28, 2021 | Oct. 06, 2020 | Jan. 01, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Apr. 21, 2020 | Dec. 31, 2019 |
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Common stock, par value (in dollars per share) | $ 4 | $ 4 | $ 4 | ||||||||||
Assets | $ 6,043,359,000 | $ 6,043,359,000 | $ 4,726,348,000 | ||||||||||
Loans | 3,891,889,000 | 3,891,889,000 | 3,094,585,000 | ||||||||||
Deposits | $ 215,000,000 | $ 4,988,562,000 | $ 4,988,562,000 | 3,692,784,000 | $ 60,000,000 | ||||||||
Loans acquired | 208,000,000 | $ 183,000,000 | |||||||||||
Core deposit intangible asset | $ 4,848,000 | ||||||||||||
Amortization period | 10 years | ||||||||||||
Stock plans, term | 10 years | ||||||||||||
Maximum number of shares to be issued in stock incentive plan (in shares) | 399,983 | 399,983 | |||||||||||
Employee discount for employee stock purchase plan | 5.00% | ||||||||||||
Employee stock purchase plan, number of shares authorized | 600,000 | 600,000 | |||||||||||
Stock issued during period, shares, employee stock purchase plans | 2,700 | 3,494 | 8,439 | 11,037 | |||||||||
Captive maximum gross premiums | $ 2,300,000 | ||||||||||||
Cumulative change in accounting principal | $ 627,225,000 | $ 561,009,000 | 627,225,000 | $ 561,009,000 | 568,228,000 | $ 616,066,000 | $ 549,273,000 | $ 526,609,000 | |||||
Allowance for credit losses on loans | 53,983,000 | $ 41,915,000 | $ 53,983,000 | $ 41,915,000 | $ 41,910,000 | $ 54,597,000 | $ 38,381,000 | 26,911,000 | |||||
ASU 2016-13 | |||||||||||||
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Allowance for credit losses on loans | $ 28,583,000 | ||||||||||||
Off-balance sheet, credit loss, liability | 69,000 | ||||||||||||
Allowance for credit losses, held-to-maturity debt securities | 0 | ||||||||||||
Amortized cost of PCD assets reflected the addition to allowance for credit losses | 833,000 | ||||||||||||
ASU 2016-13 | Impact of ASU | |||||||||||||
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Allowance for credit losses on loans | 1,672,000 | ||||||||||||
Off-balance sheet, credit loss, liability | 69,000 | ||||||||||||
Cumulative Effect, Period of Adoption, Adjustment | ASU 2016-13 | |||||||||||||
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Cumulative change in accounting principal | $ 717,000 | (717,000) | |||||||||||
Allowance for credit losses on loans | $ 1,672,000 | ||||||||||||
Stock Options | |||||||||||||
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Common stock awarded in SI plan (in shares) | 0 | ||||||||||||
Restricted Stock | |||||||||||||
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Common stock awarded in SI plan (in shares) | 27,750 | 25,200 | |||||||||||
Restricted Stock Units (RSUs) | |||||||||||||
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Common stock awarded in SI plan (in shares) | 35,400 | 16,950 | |||||||||||
3.95% Subordinated Notes due 2030 | |||||||||||||
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Aggregate principal amount | $ 96,000,000 | ||||||||||||
Fixed-to-Floating Rate | 3.95% | ||||||||||||
Maturity date | Oct. 15, 2030 | ||||||||||||
Redemption description | The Company may, beginning with the interest payment date of October 15, 2025, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the Notes at any time, including prior to October 15, 2025, at the Company’s option, in whole but not in part, if: (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the Notes for U.S. federal income tax purposes; (ii) a subsequent event occurs that could preclude the Notes from being recognized as Tier 2 capital for regulatory capital purposes; or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended; in each case, at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to but excluding the redemption date. | ||||||||||||
3.95% Subordinated Notes due 2030 | SOFR | |||||||||||||
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Description floating rate basis | three-month Term SOFR | ||||||||||||
Basis points | 3.83% | ||||||||||||
Delta Bancshares Company | |||||||||||||
Basis Of Accounting And Consolidation [Line Items] | |||||||||||||
Percentage of issued and outstanding shares acquired | 100.00% | ||||||||||||
Common stock, par value (in dollars per share) | $ 10 | ||||||||||||
Share Price | $ 4 | ||||||||||||
Consideration payable in cash | $ 15,200,000 | ||||||||||||
Consideration payable in shares | 2,282,511 | ||||||||||||
Assets | 668,000,000 | $ 668,000,000 | |||||||||||
Loans | 448,000,000 | 448,000,000 | |||||||||||
Deposits | $ 511,000,000 | $ 511,000,000 |
Basis of Accounting and Conso_5
Basis of Accounting and Consolidation - Schedule of Components of Accumulated Other Comprehensive Income (Details) - Accumulated Other Comprehensive Income - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Net unrealized gains on securities available-for-sale | $ 7,934 | $ 24,077 |
Tax expense | (2,301) | (6,982) |
Balance | $ 5,633 | $ 17,095 |
Basis of Accounting and Conso_6
Basis of Accounting and Consolidation - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Realized gains on available-for-sale securities | $ 11 | $ 95 | $ 88 | $ 913 |
Tax effect | (6,105) | (3,720) | (10,130) | (9,988) |
Total reclassifications out of accumulated other comprehensive income | 8 | 67 | 62 | 648 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent | ||||
Realized gains on available-for-sale securities | 11 | 95 | 88 | 913 |
Tax effect | $ (3) | $ (28) | $ (26) | $ (265) |
Basis of Accounting and Conso_7
Basis of Accounting and Consolidation - Schedule of Impact of ASU 2016-13 Adoption (Details) - USD ($) | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | $ 53,983,000 | $ 54,597,000 | $ 41,910,000 | $ 41,915,000 | $ 38,381,000 | $ 26,911,000 | |
Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 26,911,000 | ||||||
Allowance for credit losses on off-balance sheet exposures | 0 | ||||||
ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | $ 28,583,000 | ||||||
Allowance for credit losses on off-balance sheet exposures | 69,000 | ||||||
ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,672,000 | ||||||
Allowance for credit losses on off-balance sheet exposures | 69,000 | ||||||
Construction and Land Development | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,146,000 | ||||||
Construction and Land Development | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,033,000 | ||||||
Construction and Land Development | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | (113,000) | ||||||
Agricultural Real Estate | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,093,000 | ||||||
Agricultural Real Estate | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,323,000 | ||||||
Agricultural Real Estate | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 230,000 | ||||||
1-4 Family Residential Properties | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,386,000 | ||||||
1-4 Family Residential Properties | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 2,142,000 | ||||||
1-4 Family Residential Properties | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 756,000 | ||||||
Commercial Real Estate | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 11,198,000 | ||||||
Commercial Real Estate | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 11,739,000 | ||||||
Commercial Real Estate | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 541,000 | ||||||
Agricultural | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,386,000 | ||||||
Agricultural | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,023,000 | ||||||
Agricultural | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | (363,000) | ||||||
Commercial & Industrial | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 9,273,000 | ||||||
Commercial & Industrial | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 9,428,000 | ||||||
Commercial & Industrial | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 155,000 | ||||||
Consumer | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | $ 1,429,000 | ||||||
Consumer | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,895,000 | ||||||
Consumer | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | $ 466,000 |
Basis of Accounting and Conso_8
Basis of Accounting and Consolidation - Schedule of Impact of ASU 2016-13 Adoption of PCD Assets Previously Classified as PCI (Details) - USD ($) | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | $ 53,983,000 | $ 54,597,000 | $ 41,910,000 | $ 41,915,000 | $ 38,381,000 | $ 26,911,000 | |
Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 26,911,000 | ||||||
ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | $ 28,583,000 | ||||||
ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,672,000 | ||||||
Construction and Land Development | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,146,000 | ||||||
Construction and Land Development | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,033,000 | ||||||
Construction and Land Development | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | (113,000) | ||||||
1-4 Family Residential Properties | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,386,000 | ||||||
1-4 Family Residential Properties | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 2,142,000 | ||||||
1-4 Family Residential Properties | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 756,000 | ||||||
Commercial Real Estate | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 11,198,000 | ||||||
Commercial Real Estate | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 11,739,000 | ||||||
Commercial Real Estate | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 541,000 | ||||||
Commercial & Industrial | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 9,273,000 | ||||||
Commercial & Industrial | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 9,428,000 | ||||||
Commercial & Industrial | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 155,000 | ||||||
Financial Asset Acquired with Credit Deterioration | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 365,000 | ||||||
Financial Asset Acquired with Credit Deterioration | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 1,198,000 | ||||||
Financial Asset Acquired with Credit Deterioration | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 833,000 | ||||||
Financial Asset Acquired with Credit Deterioration | Construction and Land Development | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 0 | ||||||
Financial Asset Acquired with Credit Deterioration | Construction and Land Development | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 291,000 | ||||||
Financial Asset Acquired with Credit Deterioration | Construction and Land Development | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 291,000 | ||||||
Financial Asset Acquired with Credit Deterioration | 1-4 Family Residential Properties | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 6,000 | ||||||
Financial Asset Acquired with Credit Deterioration | 1-4 Family Residential Properties | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 48,000 | ||||||
Financial Asset Acquired with Credit Deterioration | 1-4 Family Residential Properties | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 42,000 | ||||||
Financial Asset Acquired with Credit Deterioration | Commercial Real Estate | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 359,000 | ||||||
Financial Asset Acquired with Credit Deterioration | Commercial Real Estate | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 818,000 | ||||||
Financial Asset Acquired with Credit Deterioration | Commercial Real Estate | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 459,000 | ||||||
Financial Asset Acquired with Credit Deterioration | Commercial & Industrial | Pre-ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | $ 0 | ||||||
Financial Asset Acquired with Credit Deterioration | Commercial & Industrial | ASU 2016-13 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | 41,000 | ||||||
Financial Asset Acquired with Credit Deterioration | Commercial & Industrial | ASU 2016-13 | Impact of ASU | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Allowance for credit losses on loans | $ 41,000 |
Earnings Per Share - Components
Earnings Per Share - Components of Basic and Diluted Net Income Per Common Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Basic Net Income per Common Share Available to Common Stockholders: | ||||
Net income | $ 18,326,000 | $ 11,565,000 | $ 34,656,000 | $ 31,701,000 |
Weighted average common shares outstanding | 18,083,126 | 16,728,191 | 17,819,619 | 16,710,485 |
Basic earnings per common share | $ 1.01 | $ 0.69 | $ 1.94 | $ 1.90 |
Diluted Net Income per Common Share Available to Common Stockholders: | ||||
Net income applicable to diluted earnings per share | $ 18,326,000 | $ 11,565,000 | $ 34,656,000 | $ 31,701,000 |
Weighted average common shares outstanding | 18,083,126 | 16,728,191 | 17,819,619 | 16,710,485 |
Dilutive potential common shares: restricted stock awarded | 53,020 | 46,908 | 53,020 | 46,908 |
Diluted weighted average common shares outstanding | 18,136,146 | 16,775,099 | 17,872,639 | 16,757,393 |
Diluted earnings per common share | $ 1.01 | $ 0.69 | $ 1.94 | $ 1.89 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share [Abstract] | ||||
Number of anti-dilutive shares excluded when computing diluted earnings per share | 0 | 0 | 0 | 0 |
Investment Securities - Availab
Investment Securities - Available for Sale and Held for Maturity Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale: [Abstract] | ||
Amortized Cost | $ 1,339,032 | $ 855,163 |
Gross Unrealized Gains | 18,801 | 25,075 |
Gross Unrealized (Losses) | (10,867) | (998) |
Fair Value | 1,346,966 | 879,240 |
Held-to-maturity: [Abstract] | ||
Held-to-maturity | 7,026 | 5,016 |
Gross Unrealized Gains | 31 | |
Unrealized (Losses) | 0 | |
Fair Value | 7,057 | 5,119 |
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Available-for-sale: [Abstract] | ||
Amortized Cost | 194,162 | 127,067 |
Gross Unrealized Gains | 308 | 790 |
Gross Unrealized (Losses) | (2,786) | (788) |
Fair Value | 191,684 | 127,069 |
Held-to-maturity: [Abstract] | ||
Held-to-maturity | 5,004 | 5,016 |
Gross Unrealized Gains | 31 | 103 |
Unrealized (Losses) | 0 | 0 |
Fair Value | 5,035 | 5,119 |
Obligations of States and Political Subdivisions | ||
Available-for-sale: [Abstract] | ||
Amortized Cost | 328,394 | 237,886 |
Gross Unrealized Gains | 11,310 | 11,995 |
Gross Unrealized (Losses) | (960) | (37) |
Fair Value | 338,744 | 249,844 |
Mortgage-backed Securities: GSE Residential | ||
Available-for-sale: [Abstract] | ||
Amortized Cost | 783,400 | 479,470 |
Gross Unrealized Gains | 6,300 | 12,038 |
Gross Unrealized (Losses) | (7,085) | (160) |
Fair Value | 782,615 | 491,348 |
Other Securities | ||
Available-for-sale: [Abstract] | ||
Amortized Cost | 33,076 | 10,740 |
Gross Unrealized Gains | 883 | 252 |
Gross Unrealized (Losses) | (36) | (13) |
Fair Value | 33,923 | $ 10,979 |
Held-to-maturity: [Abstract] | ||
Held-to-maturity | 2,022 | |
Gross Unrealized Gains | 0 | |
Unrealized (Losses) | 0 | |
Fair Value | $ 2,022 |
Investment Securities - Additio
Investment Securities - Additional Information (Details) | 9 Months Ended | |
Sep. 30, 2021USD ($)Security | Dec. 31, 2020USD ($)Security | |
Schedule Of Available For Sale Securities [Line Items] | ||
Equity securities, at fair value | $ 348,000 | $ 218,000 |
Tax rate used to calculate tax-equivalent yields (in hundredths) | 21.00% | |
Percentage investment book value exceeds stockholders' equity (in hundredths) | 10.00% | |
Debt securities, available-for-sale, restricted | $ 740,000,000 | $ 531,000,000 |
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Number of securities in unrealized loss positions | Security | 1 | 1 |
12 months or longer, fair value | $ 9,649,000 | $ 9,649,000 |
12 months or longer, unrealized losses | $ 351,000 | $ 351,000 |
Held-to-maturity, securities in unrealized loss positions, qualitative disclosure, number of positions | Security | 0 | 0 |
Obligations of States and Political Subdivisions | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Number of securities in unrealized loss positions | Security | 0 | 0 |
Mortgage-backed Securities: GSE Residential | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Number of securities in unrealized loss positions | Security | 11 | 2 |
12 months or longer, fair value | $ 93,000 | $ 2,377,000 |
12 months or longer, unrealized losses | $ 1,000 | $ 0 |
Other Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Number of securities in unrealized loss positions | Security | 0 | 0 |
Investment Securities - Realize
Investment Securities - Realized Gains and Losses From Sale of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Realized Investment Gains (Losses) [Abstract] | ||||
Gross gains | $ 11 | $ 116 | $ 88 | $ 934 |
Gross losses | $ 0 | $ (21) | $ 0 | $ (21) |
Investment Securities - Investm
Investment Securities - Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale investments, One year or less | $ 165,195 | |
Available-for-sale investments, After 1 through 5 years | 581,144 | |
Available-for-sale investments, After 5 through 10 years | 592,862 | |
Available-for-sale investments, After ten years | 7,765 | |
Available-for-sale investments, Fair Value | $ 1,346,966 | $ 879,240 |
Available-for-sale, Weighted average yield, One year or less (in hundredths) | 1.61% | |
Available-for-sale , Weighted average yield,After 1 through 5 years (in hundredths) | 1.95% | |
Available-for-sale, Weighted average yield,After 5 through 10 years (in hundredths) | 1.68% | |
Available-for-sale , Weighted average yield,After ten years (in hundredths) | 2.43% | |
Available-for-sale , Weighted average yield,Total (in hundredths) | 1.79% | |
Available-for-sale, Full Tax-equivalent yield, One year or less (in hundredths) | 1.78% | |
Available-for-sale, Full Tax-equivalent yield,After 1 through 5 years (in hundredths) | 2.10% | |
Available-for-sale, Full Tax-equivalent yield, After 5 through 10 years (in hundredths) | 1.94% | |
Available-for-sale, Full Tax-equivalent yield,After ten years (in hundredths) | 3.16% | |
Available-for-sale, Full Tax-equivalent yield,Total (in hundredths) | 2.00% | |
Held-to-maturity, Maturity [Abstract] | ||
Held-to-maturity, One Year or less | $ 5,004 | |
Held-to-maturity, After1 through 5 years | 0 | |
Held-to-maturity, After 5 through 10 years | 0 | |
Held-to-maturity, After ten years | 2,022 | |
Held-to-maturity | $ 7,026 | 5,016 |
Held To Maturity Weighted average yield, One year or less | 2.06% | |
Held To Maturity Weighted average yield, After 1 through 5 years | 0.00% | |
Held To Maturity Weighted average yield After 5 through 10 years | 0.00% | |
Held To Maturity Weighted average yield After ten years | 0.00% | |
Held To Maturity Weighted average yield ,Total | 2.06% | |
Held To Maturity, Full tax-equivalent yield , One year or less | 2.06% | |
Held To Maturity, Full tax-equivalent yield , After 1 through 5 years | 0.00% | |
Held To Maturity, Full tax-equivalent yield , After 5 through 10 years | 0.00% | |
Held To Maturity, Full tax-equivalent yield , After ten years | 0.00% | |
Held To Maturity, Full tax-equivalent yield , Total | 2.06% | |
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale investments, One year or less | $ 116,855 | |
Available-for-sale investments, After 1 through 5 years | 63,561 | |
Available-for-sale investments, After 5 through 10 years | 11,268 | |
Available-for-sale investments, After ten years | 0 | |
Available-for-sale investments, Fair Value | 191,684 | 127,069 |
Held-to-maturity, Maturity [Abstract] | ||
Held-to-maturity, One Year or less | 5,004 | |
Held-to-maturity, After1 through 5 years | 0 | |
Held-to-maturity, After 5 through 10 years | 0 | |
Held-to-maturity, After ten years | 0 | |
Held-to-maturity | 5,004 | 5,016 |
Obligations of States and Political Subdivisions | ||
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale investments, One year or less | 24,335 | |
Available-for-sale investments, After 1 through 5 years | 82,566 | |
Available-for-sale investments, After 5 through 10 years | 224,078 | |
Available-for-sale investments, After ten years | 7,765 | |
Available-for-sale investments, Fair Value | 338,744 | 249,844 |
Mortgage-backed Securities: GSE Residential | ||
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale investments, One year or less | 17,950 | |
Available-for-sale investments, After 1 through 5 years | 410,157 | |
Available-for-sale investments, After 5 through 10 years | 354,508 | |
Available-for-sale investments, After ten years | 0 | |
Available-for-sale investments, Fair Value | 782,615 | 491,348 |
Other Securities | ||
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Available-for-sale investments, One year or less | 6,055 | |
Available-for-sale investments, After 1 through 5 years | 24,860 | |
Available-for-sale investments, After 5 through 10 years | 3,008 | |
Available-for-sale investments, After ten years | 0 | |
Available-for-sale investments, Fair Value | 33,923 | $ 10,979 |
Held-to-maturity, Maturity [Abstract] | ||
Held-to-maturity, One Year or less | 0 | |
Held-to-maturity, After1 through 5 years | 0 | |
Held-to-maturity, After 5 through 10 years | 0 | |
Held-to-maturity, After ten years | 2,022 | |
Held-to-maturity | $ 2,022 |
Investment Securities - Fair Va
Investment Securities - Fair Value of Investments with Sustained Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract] | ||
Available-for-sale, Less than 12 months, Fair Value | $ 752,588 | $ 126,177 |
Available-for-sale, Less than 12 months, Unrealized Losses | (10,515) | (998) |
Available-for-sale, 12 months or longer, Fair Value | 9,742 | 2,377 |
Available-for-sale, 12 months or longer, Unrealized losses | (352) | 0 |
Available-for-sale, Total Fair Value | 762,330 | 128,554 |
Available-for-sale, Total Unrealized Losses | (10,867) | (998) |
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract] | ||
Available-for-sale, Less than 12 months, Fair Value | 145,432 | 59,211 |
Available-for-sale, Less than 12 months, Unrealized Losses | (2,435) | (788) |
Available-for-sale, 12 months or longer, Fair Value | 9,649 | 0 |
Available-for-sale, 12 months or longer, Unrealized losses | (351) | 0 |
Available-for-sale, Total Fair Value | 155,081 | 59,211 |
Available-for-sale, Total Unrealized Losses | (2,786) | (788) |
Obligations of States and Political Subdivisions | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract] | ||
Available-for-sale, Less than 12 months, Fair Value | 87,767 | 5,380 |
Available-for-sale, Less than 12 months, Unrealized Losses | (960) | (37) |
Available-for-sale, 12 months or longer, Fair Value | 0 | 0 |
Available-for-sale, 12 months or longer, Unrealized losses | 0 | 0 |
Available-for-sale, Total Fair Value | 87,767 | 5,380 |
Available-for-sale, Total Unrealized Losses | (960) | (37) |
Mortgage-backed Securities: GSE Residential | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract] | ||
Available-for-sale, Less than 12 months, Fair Value | 508,332 | 57,609 |
Available-for-sale, Less than 12 months, Unrealized Losses | (7,084) | (160) |
Available-for-sale, 12 months or longer, Fair Value | 93 | 2,377 |
Available-for-sale, 12 months or longer, Unrealized losses | (1) | 0 |
Available-for-sale, Total Fair Value | 508,425 | 59,986 |
Available-for-sale, Total Unrealized Losses | (7,085) | (160) |
Other Securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract] | ||
Available-for-sale, Less than 12 months, Fair Value | 11,057 | 3,977 |
Available-for-sale, Less than 12 months, Unrealized Losses | (36) | (13) |
Available-for-sale, 12 months or longer, Fair Value | 0 | 0 |
Available-for-sale, 12 months or longer, Unrealized losses | 0 | 0 |
Available-for-sale, Total Fair Value | 11,057 | 3,977 |
Available-for-sale, Total Unrealized Losses | $ (36) | $ (13) |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses - Summary of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | $ 3,951,699 | $ 3,143,921 | ||||
Loans held for sale | 1,897 | 1,924 | ||||
Loans and leases receivable gross excluding loans held for sale | 3,949,802 | 3,141,997 | ||||
Net deferred loan fees, premiums and discounts | 3,930 | 5,502 | ||||
Allowance for credit losses | 53,983 | $ 54,597 | 41,910 | $ 41,915 | $ 38,381 | $ 26,911 |
Net loans | 3,891,889 | 3,094,585 | ||||
Real Estate Loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | 2,761,093 | 2,068,550 | ||||
Construction and Land Development | Real Estate Loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | 179,792 | 122,853 | ||||
Allowance for credit losses | 2,109 | 1,795 | 1,666 | 2,206 | 2,358 | 1,146 |
Agricultural | Real Estate Loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | 278,432 | 254,662 | ||||
Allowance for credit losses | 1,257 | 1,665 | 1,084 | 1,666 | 1,634 | 1,093 |
Commercial | Real Estate Loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | 1,583,583 | 1,176,290 | ||||
Allowance for credit losses | 25,580 | 25,664 | 19,660 | 18,808 | 16,272 | 11,198 |
Agricultural Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | 126,473 | 137,333 | ||||
Allowance for credit losses | 816 | 906 | 1,526 | 1,234 | 1,323 | 1,386 |
Commercial and Industrial Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | 839,630 | 741,819 | ||||
Allowance for credit losses | 18,608 | 19,842 | 13,485 | 13,372 | 12,360 | 9,273 |
Consumer Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | 80,779 | 78,023 | ||||
Allowance for credit losses | 2,953 | 2,155 | 2,167 | 2,238 | 1,948 | 1,429 |
All Other Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | 143,724 | 118,196 | ||||
1-4 Family | Residential Properties | Real Estate Loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | 412,320 | 325,480 | ||||
Allowance for credit losses | 2,660 | $ 2,570 | 2,322 | $ 2,391 | $ 2,486 | $ 1,386 |
Multifamily | Residential Properties | Real Estate Loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans | $ 306,966 | $ 189,265 |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses - Additional Information (Details) | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2021USD ($)alternativeLoan_modified | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($)Loan_modified | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Jan. 01, 2020USD ($) | Dec. 31, 2019USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Accrued interest on loans | $ 16,500,000 | $ 15,900,000 | |||||
Minimum value of loans individually measured for impairment | $ 250,000 | ||||||
Number of alternatives for measuring impaired loans receivable | alternative | 3 | ||||||
Allowance for credit losses | $ 53,983,000 | $ 41,915,000 | 41,910,000 | $ 54,597,000 | $ 38,381,000 | $ 26,911,000 | |
Financing receivable modifications performing recorded investment | 4,278,000 | 4,373,000 | |||||
Interest lost on nonaccrual loans | 407,000 | 1,021,000 | |||||
Troubled debt restructurings balance | 7,707,000 | 9,502,000 | |||||
Loans receivable, modifications, allowance | 834,000 | 1,000,000 | |||||
Real estate acquired through foreclosure | 5,625,000 | 2,489,000 | |||||
Mortgage loans secured by real estate In foreclosure | $ 550,000 | $ 713,000 | |||||
Financial Asset, Equal to or Greater than 90 Days Past Due | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Troubled debt restructurings balance | Loan_modified | 0 | 0 | |||||
Accounting Standards Update 2016-13 | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | $ 28,583,000 | ||||||
Accounting Standards Update 2016-13 | Impact of ASU | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 1,672,000 | ||||||
Accounting Standards Update 2016-13 | Financial Asset Acquired with Credit Deterioration | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 1,198,000 | ||||||
Accounting Standards Update 2016-13 | Financial Asset Acquired with Credit Deterioration | Impact of ASU | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 833,000 | ||||||
Maximum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Amortization period of loans | 25 years | ||||||
Commercial Real Estate | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Debt coverage ratio | 1.20x | ||||||
Commercial Real Estate | Accounting Standards Update 2016-13 | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 11,739,000 | ||||||
Commercial Real Estate | Accounting Standards Update 2016-13 | Impact of ASU | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 541,000 | ||||||
Commercial Real Estate | Accounting Standards Update 2016-13 | Financial Asset Acquired with Credit Deterioration | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 818,000 | ||||||
Commercial Real Estate | Accounting Standards Update 2016-13 | Financial Asset Acquired with Credit Deterioration | Impact of ASU | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 459,000 | ||||||
Commercial Real Estate | Minimum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Maximum loan-to-value ratio (in hundredths) | 65.00% | ||||||
Amortization period of loans | 20 years | ||||||
Commercial Real Estate | Maximum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Maximum loan-to-value ratio (in hundredths) | 80.00% | ||||||
1-4 Family Residential Properties | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Period when loans charged-down | 180 days | ||||||
1-4 Family Residential Properties | Accounting Standards Update 2016-13 | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 2,142,000 | ||||||
1-4 Family Residential Properties | Accounting Standards Update 2016-13 | Impact of ASU | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 756,000 | ||||||
1-4 Family Residential Properties | Accounting Standards Update 2016-13 | Financial Asset Acquired with Credit Deterioration | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | 48,000 | ||||||
1-4 Family Residential Properties | Accounting Standards Update 2016-13 | Financial Asset Acquired with Credit Deterioration | Impact of ASU | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | $ 42,000 | ||||||
Motels and Hotels Loans | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 121,200,000 | ||||||
Non-residential Buildings | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | 637,500,000 | ||||||
Residential Buildings and Dwellings | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | 509,800,000 | ||||||
Real Estate Loan | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing receivable modifications performing recorded investment | 3,709,000 | $ 4,313,000 | |||||
Troubled debt restructurings balance | $ 6,122,000 | 6,773,000 | |||||
Unsecured Open-end Loans | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Period when loans charged-down | 180 days | ||||||
Other Secured Loans | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Period when loans charged-down | 120 days | ||||||
Agricultural | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 405,300,000 | 391,700,000 | |||||
Increase (decrease) in accounts and notes receivable | $ 13,600,000 | ||||||
Maximum loan-to-value ratio (in hundredths) | 65.00% | ||||||
Amortization period of loans | 25 years | ||||||
Loans receivable, time period | 1 year | ||||||
Agricultural | Corn and Other Grain Farming | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 285,200,000 | 308,200,000 | |||||
Increase (decrease) in accounts and notes receivable | (23,000,000) | ||||||
Agricultural | Real Estate Loan | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for credit losses | $ 1,257,000 | 1,666,000 | 1,084,000 | 1,665,000 | 1,634,000 | 1,093,000 | |
Commercial and Industrial Loans | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Maximum loan-to-value ratio (in hundredths) | 80.00% | ||||||
Amortization period of loans | 7 years | ||||||
Loans receivable, time period | 1 year | ||||||
Allowance for credit losses | $ 18,608,000 | $ 13,372,000 | 13,485,000 | $ 19,842,000 | $ 12,360,000 | $ 9,273,000 | |
Financing receivable modifications performing recorded investment | 335,000 | 58,000 | |||||
Troubled debt restructurings balance | $ 1,059,000 | $ 2,389,000 | |||||
Residential Properties | Real Estate Loan | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Maximum loan-to-value ratio (in hundredths) | 80.00% | ||||||
Amortization period of loans | 25 years |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses - Allowance for Credit Losses Based on Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | $ 54,597 | $ 38,381 | $ 41,910 | $ 26,911 | $ 26,911 |
Initial allowance on loans purchased with credit deterioration | 2,074 | ||||
Provision for credit loss expense | 1,103 | 3,883 | 12,679 | 15,500 | 16,103 |
Loans charged off | 2,076 | 556 | 3,493 | 2,942 | 3,844 |
Recoveries collected | 359 | 207 | 813 | 774 | 1,068 |
Allowance for credit losses, Ending Balance | 53,983 | 41,915 | 53,983 | 41,915 | 41,910 |
Cumulative Change in Accounting Principal, Adjustment | ASU 2016-13 | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 1,672 | 1,672 | |||
Construction and Land Development | Real Estate Loan | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 1,795 | 2,358 | 1,666 | 1,146 | 1,146 |
Initial allowance on loans purchased with credit deterioration | 261 | ||||
Provision for credit loss expense | 314 | (139) | 205 | 1,186 | 646 |
Loans charged off | 0 | 13 | 23 | 13 | 13 |
Recoveries collected | 0 | 0 | 0 | 0 | 0 |
Allowance for credit losses, Ending Balance | 2,109 | 2,206 | 2,109 | 2,206 | 1,666 |
Construction and Land Development | Real Estate Loan | Cumulative Change in Accounting Principal, Adjustment | ASU 2016-13 | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | (113) | (113) | |||
Agricultural | Real Estate Loan | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 1,665 | 1,634 | 1,084 | 1,093 | 1,093 |
Initial allowance on loans purchased with credit deterioration | 44 | ||||
Provision for credit loss expense | (408) | 32 | 129 | 343 | (239) |
Loans charged off | 0 | 0 | 0 | 0 | 0 |
Recoveries collected | 0 | 0 | 0 | 0 | 0 |
Allowance for credit losses, Ending Balance | 1,257 | 1,666 | 1,257 | 1,666 | 1,084 |
Agricultural | Real Estate Loan | Cumulative Change in Accounting Principal, Adjustment | ASU 2016-13 | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 230 | 230 | |||
Residential Properties | Real Estate Loan | 1-4 Family | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 2,570 | 2,486 | 2,322 | 1,386 | 1,386 |
Initial allowance on loans purchased with credit deterioration | 328 | ||||
Provision for credit loss expense | 27 | (71) | 117 | 335 | 274 |
Loans charged off | 45 | 48 | 241 | 313 | 393 |
Recoveries collected | 108 | 24 | 134 | 227 | 299 |
Allowance for credit losses, Ending Balance | 2,660 | 2,391 | 2,660 | 2,391 | 2,322 |
Residential Properties | Real Estate Loan | 1-4 Family | Cumulative Change in Accounting Principal, Adjustment | ASU 2016-13 | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 756 | 756 | |||
Commercial | Real Estate Loan | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 25,664 | 16,272 | 19,660 | 11,198 | 11,198 |
Initial allowance on loans purchased with credit deterioration | 646 | ||||
Provision for credit loss expense | (52) | 2,463 | 5,764 | 7,542 | 8,581 |
Loans charged off | 55 | 0 | 535 | 551 | 829 |
Recoveries collected | 23 | 73 | 45 | 78 | 169 |
Allowance for credit losses, Ending Balance | 25,580 | 18,808 | 25,580 | 18,808 | 19,660 |
Commercial | Real Estate Loan | Cumulative Change in Accounting Principal, Adjustment | ASU 2016-13 | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 541 | 541 | |||
Agricultural Loans | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 906 | 1,323 | 1,526 | 1,386 | 1,386 |
Initial allowance on loans purchased with credit deterioration | 0 | ||||
Provision for credit loss expense | (90) | (89) | (711) | 211 | 503 |
Loans charged off | 0 | 0 | 0 | 0 | 0 |
Recoveries collected | 0 | 0 | 1 | 0 | 0 |
Allowance for credit losses, Ending Balance | 816 | 1,234 | 816 | 1,234 | 1,526 |
Agricultural Loans | Cumulative Change in Accounting Principal, Adjustment | ASU 2016-13 | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | (363) | (363) | |||
Commercial and Industrial Loans | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 19,842 | 12,360 | 13,485 | 9,273 | 9,273 |
Initial allowance on loans purchased with credit deterioration | 795 | ||||
Provision for credit loss expense | 342 | 1,352 | 5,950 | 5,453 | 5,869 |
Loans charged off | 1,600 | 368 | 1,686 | 1,651 | 1,991 |
Recoveries collected | 24 | 28 | 64 | 142 | 179 |
Allowance for credit losses, Ending Balance | 18,608 | 13,372 | 18,608 | 13,372 | 13,485 |
Commercial and Industrial Loans | Cumulative Change in Accounting Principal, Adjustment | ASU 2016-13 | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 155 | 155 | |||
Consumer Loans | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | 2,155 | 1,948 | 2,167 | 1,429 | 1,429 |
Initial allowance on loans purchased with credit deterioration | 0 | ||||
Provision for credit loss expense | 970 | 335 | 1,225 | 430 | 469 |
Loans charged off | 376 | 127 | 1,008 | 414 | 618 |
Recoveries collected | 204 | 82 | 569 | 327 | 421 |
Allowance for credit losses, Ending Balance | $ 2,953 | $ 2,238 | $ 2,953 | 2,238 | 2,167 |
Consumer Loans | Cumulative Change in Accounting Principal, Adjustment | ASU 2016-13 | |||||
Allowance for loan losses [Abstract] | |||||
Allowance for credit losses, Beginning Balance | $ 466 | $ 466 |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses - Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans Individually Evaluated (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | $ 22,727 |
Allowance for Credit Losses | 2,532 |
Commercial and Industrial Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 3,213 |
Allowance for Credit Losses | 1,190 |
Consumer Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 10 |
Allowance for Credit Losses | 0 |
All Other Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 24 |
Allowance for Credit Losses | 0 |
Real Estate | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 19,480 |
Real Estate | Commercial and Industrial Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Real Estate | Consumer Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Real Estate | All Other Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Business Assets | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 2,170 |
Business Assets | Commercial and Industrial Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 2,146 |
Business Assets | Consumer Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Business Assets | All Other Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 24 |
Other Property | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 1,077 |
Other Property | Commercial and Industrial Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 1,067 |
Other Property | Consumer Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 10 |
Other Property | All Other Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Real Estate Loan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 19,480 |
Allowance for Credit Losses | 1,342 |
Real Estate Loan | Construction and Land Development | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 1,407 |
Allowance for Credit Losses | 233 |
Real Estate Loan | Commercial | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 10,830 |
Allowance for Credit Losses | 864 |
Real Estate Loan | Real Estate | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 19,480 |
Real Estate Loan | Real Estate | Construction and Land Development | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 1,407 |
Real Estate Loan | Real Estate | Commercial | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 10,830 |
Real Estate Loan | Business Assets | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Real Estate Loan | Business Assets | Construction and Land Development | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Real Estate Loan | Business Assets | Commercial | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Real Estate Loan | Other Property | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Real Estate Loan | Other Property | Construction and Land Development | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Real Estate Loan | Other Property | Commercial | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
1-4 Family | Real Estate Loan | Residential Properties | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 5,438 |
Allowance for Credit Losses | 245 |
1-4 Family | Real Estate Loan | Real Estate | Residential Properties | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 5,438 |
1-4 Family | Real Estate Loan | Business Assets | Residential Properties | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
1-4 Family | Real Estate Loan | Other Property | Residential Properties | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Multifamily | Real Estate Loan | Residential Properties | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 1,805 |
Allowance for Credit Losses | 0 |
Multifamily | Real Estate Loan | Real Estate | Residential Properties | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 1,805 |
Multifamily | Real Estate Loan | Business Assets | Residential Properties | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | 0 |
Multifamily | Real Estate Loan | Other Property | Residential Properties | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Financing Receivable, Individually Evaluated for Impairment | $ 0 |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses - Credit Risk Profile of Loan Portfolio on Amortized Cost Basis Based on Risk Rating Category (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Credit Quality Information [Abstract] | ||
Current fiscal year | $ 799,252 | $ 1,085,080 |
Fiscal year before current fiscal year | 911,425 | 558,953 |
Two years before current fiscal year | 624,971 | 386,847 |
Three years before current fiscal year | 397,185 | 300,829 |
Four years before current fiscal year | 241,548 | 247,242 |
Prior | 929,680 | 517,313 |
Revolving Loans | 43,708 | 42,155 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 3,947,769 | 3,138,419 |
Pass | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 775,322 | 1,052,257 |
Fiscal year before current fiscal year | 907,023 | 511,427 |
Two years before current fiscal year | 604,031 | 367,652 |
Three years before current fiscal year | 387,870 | 279,274 |
Four years before current fiscal year | 218,694 | 230,730 |
Prior | 884,824 | 459,453 |
Revolving Loans | 42,664 | 40,363 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 3,820,428 | 2,941,156 |
Special Mention | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 20,819 | 29,692 |
Fiscal year before current fiscal year | 2,350 | 44,049 |
Two years before current fiscal year | 12,071 | 8,731 |
Three years before current fiscal year | 3,073 | 15,165 |
Four years before current fiscal year | 14,318 | 9,344 |
Prior | 23,535 | 30,525 |
Revolving Loans | 56 | 293 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 76,222 | 137,799 |
Substandard | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 3,111 | 3,131 |
Fiscal year before current fiscal year | 2,052 | 3,477 |
Two years before current fiscal year | 8,869 | 10,464 |
Three years before current fiscal year | 6,242 | 6,390 |
Four years before current fiscal year | 8,536 | 7,168 |
Prior | 21,321 | 27,335 |
Revolving Loans | 988 | 1,499 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 51,119 | 59,464 |
Agricultural Loans | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 90,743 | 104,515 |
Fiscal year before current fiscal year | 20,384 | 20,401 |
Two years before current fiscal year | 8,539 | 6,697 |
Three years before current fiscal year | 3,808 | 2,062 |
Four years before current fiscal year | 1,234 | 783 |
Prior | 1,826 | 2,894 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 126,534 | 137,352 |
Agricultural Loans | Pass | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 75,148 | 83,377 |
Fiscal year before current fiscal year | 19,930 | 15,680 |
Two years before current fiscal year | 5,582 | 5,978 |
Three years before current fiscal year | 3,653 | 1,838 |
Four years before current fiscal year | 1,074 | 635 |
Prior | 1,480 | 2,856 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 106,867 | 110,364 |
Agricultural Loans | Special Mention | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 15,568 | 21,070 |
Fiscal year before current fiscal year | 436 | 4,483 |
Two years before current fiscal year | 2,957 | 694 |
Three years before current fiscal year | 155 | 224 |
Four years before current fiscal year | 160 | 148 |
Prior | 65 | 38 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 19,341 | 26,657 |
Agricultural Loans | Substandard | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 27 | 68 |
Fiscal year before current fiscal year | 18 | 238 |
Two years before current fiscal year | 0 | 25 |
Three years before current fiscal year | 0 | 0 |
Four years before current fiscal year | 0 | 0 |
Prior | 281 | 0 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 326 | 331 |
Consumer Loans | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 20,973 | 31,624 |
Fiscal year before current fiscal year | 21,642 | 21,424 |
Two years before current fiscal year | 27,447 | 12,219 |
Three years before current fiscal year | 6,694 | 8,375 |
Four years before current fiscal year | 2,670 | 3,218 |
Prior | 638 | 1,142 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 80,064 | 78,002 |
Consumer Loans | Pass | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 20,854 | 31,609 |
Fiscal year before current fiscal year | 21,547 | 21,384 |
Two years before current fiscal year | 27,317 | 12,084 |
Three years before current fiscal year | 6,633 | 8,279 |
Four years before current fiscal year | 2,640 | 3,150 |
Prior | 492 | 1,022 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 79,483 | 77,528 |
Consumer Loans | Special Mention | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 21 | 0 |
Fiscal year before current fiscal year | 78 | 24 |
Two years before current fiscal year | 55 | 24 |
Three years before current fiscal year | 10 | 1 |
Four years before current fiscal year | 0 | 1 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 164 | 50 |
Consumer Loans | Substandard | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 98 | 15 |
Fiscal year before current fiscal year | 17 | 16 |
Two years before current fiscal year | 75 | 111 |
Three years before current fiscal year | 51 | 95 |
Four years before current fiscal year | 30 | 67 |
Prior | 146 | 120 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 417 | 424 |
Commercial and Industrial Loans | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 154,001 | 376,688 |
Fiscal year before current fiscal year | 186,054 | 166,638 |
Two years before current fiscal year | 168,726 | 71,878 |
Three years before current fiscal year | 79,480 | 81,068 |
Four years before current fiscal year | 3,889 | 43,676 |
Prior | 387,441 | 116,603 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 979,591 | 856,551 |
Commercial and Industrial Loans | Pass | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 152,729 | 371,683 |
Fiscal year before current fiscal year | 184,801 | 132,148 |
Two years before current fiscal year | 166,553 | 70,497 |
Three years before current fiscal year | 77,324 | 78,890 |
Four years before current fiscal year | 3,402 | 42,439 |
Prior | 384,318 | 114,904 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 969,127 | 810,561 |
Commercial and Industrial Loans | Special Mention | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 844 | 4,116 |
Fiscal year before current fiscal year | 542 | 32,130 |
Two years before current fiscal year | 1,725 | 849 |
Three years before current fiscal year | 568 | 489 |
Four years before current fiscal year | 416 | 1,101 |
Prior | 1,155 | 730 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 5,250 | 39,415 |
Commercial and Industrial Loans | Substandard | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 428 | 889 |
Fiscal year before current fiscal year | 711 | 2,360 |
Two years before current fiscal year | 448 | 532 |
Three years before current fiscal year | 1,588 | 1,689 |
Four years before current fiscal year | 71 | 136 |
Prior | 1,968 | 969 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 5,214 | 6,575 |
Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 2,761,580 | 2,066,514 |
Real Estate Loan | Construction and Land Development | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 33,652 | 41,842 |
Fiscal year before current fiscal year | 68,429 | 41,117 |
Two years before current fiscal year | 26,623 | 31,500 |
Three years before current fiscal year | 35,654 | 3,277 |
Four years before current fiscal year | 3,841 | 871 |
Prior | 11,862 | 3,872 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 180,061 | 122,479 |
Real Estate Loan | Construction and Land Development | Pass | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 33,540 | 41,842 |
Fiscal year before current fiscal year | 68,429 | 40,989 |
Two years before current fiscal year | 26,623 | 31,500 |
Three years before current fiscal year | 34,739 | 2,760 |
Four years before current fiscal year | 3,841 | 871 |
Prior | 11,328 | 3,822 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 178,500 | 121,784 |
Real Estate Loan | Construction and Land Development | Special Mention | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 112 | 0 |
Fiscal year before current fiscal year | 0 | 0 |
Two years before current fiscal year | 0 | 0 |
Three years before current fiscal year | 0 | 0 |
Four years before current fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 112 | 0 |
Real Estate Loan | Construction and Land Development | Substandard | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before current fiscal year | 0 | 128 |
Two years before current fiscal year | 0 | 0 |
Three years before current fiscal year | 915 | 517 |
Four years before current fiscal year | 0 | 0 |
Prior | 534 | 50 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 1,449 | 695 |
Real Estate Loan | Agricultural | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 63,167 | 75,475 |
Fiscal year before current fiscal year | 66,079 | 38,382 |
Two years before current fiscal year | 34,752 | 39,172 |
Three years before current fiscal year | 37,429 | 16,815 |
Four years before current fiscal year | 13,540 | 14,729 |
Prior | 63,821 | 69,768 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 278,788 | 254,341 |
Real Estate Loan | Agricultural | Pass | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 62,342 | 73,630 |
Fiscal year before current fiscal year | 65,820 | 34,412 |
Two years before current fiscal year | 30,303 | 37,839 |
Three years before current fiscal year | 36,823 | 16,138 |
Four years before current fiscal year | 13,095 | 13,559 |
Prior | 57,580 | 58,291 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 265,963 | 233,869 |
Real Estate Loan | Agricultural | Special Mention | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 825 | 1,845 |
Fiscal year before current fiscal year | 259 | 3,970 |
Two years before current fiscal year | 4,184 | 533 |
Three years before current fiscal year | 417 | 469 |
Four years before current fiscal year | 388 | 1,106 |
Prior | 6,010 | 11,232 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 12,083 | 19,155 |
Real Estate Loan | Agricultural | Substandard | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 0 | 0 |
Fiscal year before current fiscal year | 0 | 0 |
Two years before current fiscal year | 265 | 800 |
Three years before current fiscal year | 189 | 208 |
Four years before current fiscal year | 57 | 64 |
Prior | 231 | 245 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 742 | 1,317 |
Real Estate Loan | Commercial | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 363,034 | 373,082 |
Fiscal year before current fiscal year | 446,957 | 238,459 |
Two years before current fiscal year | 318,548 | 184,780 |
Three years before current fiscal year | 183,271 | 161,567 |
Four years before current fiscal year | 177,071 | 155,046 |
Prior | 401,285 | 250,998 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 1,890,166 | 1,363,932 |
Real Estate Loan | Commercial | Pass | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 357,285 | 368,750 |
Fiscal year before current fiscal year | 445,335 | 237,119 |
Two years before current fiscal year | 310,825 | 171,591 |
Three years before current fiscal year | 180,042 | 148,283 |
Four years before current fiscal year | 161,629 | 143,400 |
Prior | 376,631 | 215,616 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 1,831,747 | 1,284,759 |
Real Estate Loan | Commercial | Special Mention | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 3,369 | 2,469 |
Fiscal year before current fiscal year | 886 | 1,300 |
Two years before current fiscal year | 1,198 | 6,108 |
Three years before current fiscal year | 1,418 | 11,262 |
Four years before current fiscal year | 10,726 | 6,741 |
Prior | 15,251 | 16,947 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 32,848 | 44,827 |
Real Estate Loan | Commercial | Substandard | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 2,380 | 1,863 |
Fiscal year before current fiscal year | 736 | 40 |
Two years before current fiscal year | 6,525 | 7,081 |
Three years before current fiscal year | 1,811 | 2,022 |
Four years before current fiscal year | 4,716 | 4,905 |
Prior | 9,403 | 18,435 |
Revolving Loans | 0 | 0 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 25,571 | 34,346 |
1-4 Family | Real Estate Loan | Residential Properties | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 73,682 | 81,854 |
Fiscal year before current fiscal year | 101,880 | 32,532 |
Two years before current fiscal year | 40,336 | 40,601 |
Three years before current fiscal year | 50,849 | 27,665 |
Four years before current fiscal year | 39,303 | 28,919 |
Prior | 62,807 | 72,036 |
Revolving Loans | 43,708 | 42,155 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 412,565 | 325,762 |
1-4 Family | Real Estate Loan | Residential Properties | Pass | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 73,424 | 81,366 |
Fiscal year before current fiscal year | 101,161 | 29,695 |
Two years before current fiscal year | 36,828 | 38,163 |
Three years before current fiscal year | 48,656 | 23,086 |
Four years before current fiscal year | 33,013 | 26,676 |
Prior | 52,995 | 62,942 |
Revolving Loans | 42,664 | 40,363 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 388,741 | 302,291 |
1-4 Family | Real Estate Loan | Residential Properties | Special Mention | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 80 | 192 |
Fiscal year before current fiscal year | 149 | 2,142 |
Two years before current fiscal year | 1,952 | 523 |
Three years before current fiscal year | 505 | 2,720 |
Four years before current fiscal year | 2,628 | 247 |
Prior | 1,054 | 1,578 |
Revolving Loans | 56 | 293 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 6,424 | 7,695 |
1-4 Family | Real Estate Loan | Residential Properties | Substandard | ||
Credit Quality Information [Abstract] | ||
Current fiscal year | 178 | 296 |
Fiscal year before current fiscal year | 570 | 695 |
Two years before current fiscal year | 1,556 | 1,915 |
Three years before current fiscal year | 1,688 | 1,859 |
Four years before current fiscal year | 3,662 | 1,996 |
Prior | 8,758 | 7,516 |
Revolving Loans | 988 | 1,499 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | $ 17,400 | $ 15,776 |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses - Loan Portfolio Aging Analysis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | $ 3,945,872 | $ 3,136,495 |
Total Loans Receivable | 3,947,769 | 3,138,419 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 2,761,580 | 2,066,514 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Construction and Land Development | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 180,061 | 122,479 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Agricultural | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 278,788 | 254,341 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Residential Properties | Real Estate Loan | 1-4 Family | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 412,565 | 325,762 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Residential Properties | Real Estate Loan | Multifamily | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 306,911 | 189,632 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Commercial | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 1,583,255 | 1,174,300 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Agricultural Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 126,534 | 137,352 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Commercial and Industrial Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 835,860 | 738,313 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Consumer Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 80,064 | 78,002 |
Total Loans> 90 Days and Accruing | 0 | 0 |
All Other Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Loans Receivable | 143,731 | 118,238 |
Total Loans> 90 Days and Accruing | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 6,278 | 7,551 |
Financial Asset, 30 to 59 Days Past Due | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 4,606 | 4,937 |
Financial Asset, 30 to 59 Days Past Due | Construction and Land Development | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 458 | 0 |
Financial Asset, 30 to 59 Days Past Due | Agricultural | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 23 | 1,198 |
Financial Asset, 30 to 59 Days Past Due | Residential Properties | Real Estate Loan | 1-4 Family | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 2,205 | 1,121 |
Financial Asset, 30 to 59 Days Past Due | Residential Properties | Real Estate Loan | Multifamily | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due | Commercial | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 1,920 | 2,618 |
Financial Asset, 30 to 59 Days Past Due | Agricultural Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 735 | 43 |
Financial Asset, 30 to 59 Days Past Due | Commercial and Industrial Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 550 | 2,426 |
Financial Asset, 30 to 59 Days Past Due | Consumer Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 387 | 145 |
Financial Asset, 30 to 59 Days Past Due | All Other Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 3,063 | 1,538 |
Financial Asset, 60 to 89 Days Past Due | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 2,063 | 1,480 |
Financial Asset, 60 to 89 Days Past Due | Construction and Land Development | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 9 | 0 |
Financial Asset, 60 to 89 Days Past Due | Agricultural | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 0 | 34 |
Financial Asset, 60 to 89 Days Past Due | Residential Properties | Real Estate Loan | 1-4 Family | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 865 | 1,105 |
Financial Asset, 60 to 89 Days Past Due | Residential Properties | Real Estate Loan | Multifamily | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 35 | 0 |
Financial Asset, 60 to 89 Days Past Due | Commercial | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 1,154 | 341 |
Financial Asset, 60 to 89 Days Past Due | Agricultural Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 152 | 0 |
Financial Asset, 60 to 89 Days Past Due | Commercial and Industrial Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 726 | 8 |
Financial Asset, 60 to 89 Days Past Due | Consumer Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 122 | 50 |
Financial Asset, 60 to 89 Days Past Due | All Other Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 12,038 | 4,760 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 8,947 | 2,955 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Construction and Land Development | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 642 | 128 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Agricultural | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 94 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Residential Properties | Real Estate Loan | 1-4 Family | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 4,313 | 2,033 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Residential Properties | Real Estate Loan | Multifamily | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 544 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Commercial | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 3,354 | 794 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Agricultural Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 588 | 236 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Commercial and Industrial Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 2,367 | 1,420 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Consumer Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 136 | 149 |
Financial Asset, Equal to or Greater than 90 Days Past Due | All Other Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 0 | 0 |
Total Past Due | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 21,379 | 13,849 |
Total Past Due | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 15,616 | 9,372 |
Total Past Due | Construction and Land Development | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 1,109 | 128 |
Total Past Due | Agricultural | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 117 | 1,232 |
Total Past Due | Residential Properties | Real Estate Loan | 1-4 Family | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 7,383 | 4,259 |
Total Past Due | Residential Properties | Real Estate Loan | Multifamily | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 579 | 0 |
Total Past Due | Commercial | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 6,428 | 3,753 |
Total Past Due | Agricultural Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 1,475 | 279 |
Total Past Due | Commercial and Industrial Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 3,643 | 3,854 |
Total Past Due | Consumer Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 645 | 344 |
Total Past Due | All Other Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 0 | 0 |
Current | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 3,926,390 | 3,124,570 |
Current | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 2,745,964 | 2,057,142 |
Current | Construction and Land Development | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 178,952 | 122,351 |
Current | Agricultural | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 278,671 | 253,109 |
Current | Residential Properties | Real Estate Loan | 1-4 Family | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 405,182 | 321,503 |
Current | Residential Properties | Real Estate Loan | Multifamily | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 306,332 | 189,632 |
Current | Commercial | Real Estate Loan | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 1,576,827 | 1,170,547 |
Current | Agricultural Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 125,059 | 137,073 |
Current | Commercial and Industrial Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 832,217 | 734,459 |
Current | Consumer Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | 79,419 | 77,658 |
Current | All Other Loans | ||
Loans Receivable Aging Analysis [Abstract] | ||
Total Past Due | $ 143,731 | $ 118,238 |
Loans and Allowance for Credi_9
Loans and Allowance for Credit Losses - Amortized Cost Basis of Loans on Nonaccrual Status and Nonaccrual Loans Individually Evaluated (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | $ 21,003 | $ 21,457 |
Financing Receivable, Nonaccrual | 23,445 | 23,750 |
Construction and Land Development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 943 | 162 |
Financing Receivable, Nonaccrual | 943 | 162 |
Agricultural Real Estate Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 338 | 359 |
Financing Receivable, Nonaccrual | 338 | 359 |
1-4 Family Residential Properties | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 7,179 | 6,747 |
Financing Receivable, Nonaccrual | 7,232 | 6,930 |
Multifamily Residential Properties | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 2,047 | 2,181 |
Financing Receivable, Nonaccrual | 2,047 | 2,181 |
Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 8,141 | 7,345 |
Financing Receivable, Nonaccrual | 8,525 | 8,760 |
Loans Secured by Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 18,648 | 16,794 |
Financing Receivable, Nonaccrual | 19,085 | 18,392 |
Agricultural Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 236 | 659 |
Financing Receivable, Nonaccrual | 236 | 659 |
Commercial and Industrial Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 1,886 | 3,677 |
Financing Receivable, Nonaccrual | 3,891 | 4,372 |
Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 233 | 327 |
Financing Receivable, Nonaccrual | 233 | 327 |
All Other Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 |
Financing Receivable, Nonaccrual | $ 0 | $ 0 |
Loans and Allowance for Cred_10
Loans and Allowance for Credit Losses - Recorded Balance of Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | $ 7,707 | $ 9,502 |
Financing Receivable Modifications Performing Recorded Investment | 4,278 | 4,373 |
Real Estate Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | 6,122 | 6,773 |
Financing Receivable Modifications Performing Recorded Investment | 3,709 | 4,313 |
Construction Loans | Real Estate Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | 492 | |
Residential Properties | Real Estate Loan | 1-4 Family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | 1,507 | 1,603 |
Financing Receivable Modifications Performing Recorded Investment | 887 | 1,268 |
Agricultural Real Estate Loans | Real Estate Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | 250 | |
Financing Receivable Modifications Performing Recorded Investment | 250 | |
Commercial | Real Estate Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | 3,873 | 5,170 |
Financing Receivable Modifications Performing Recorded Investment | 2,572 | 3,045 |
Agricultural Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | 384 | 228 |
Financing Receivable Modifications Performing Recorded Investment | 156 | |
Commercial and Industrial Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | 1,059 | 2,389 |
Financing Receivable Modifications Performing Recorded Investment | 335 | 58 |
Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | 118 | 112 |
Financing Receivable Modifications Performing Recorded Investment | 54 | $ 2 |
All Other Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings Balance | 24 | |
Financing Receivable Modifications Performing Recorded Investment | $ 24 |
Loans and Allowance for Cred_11
Loans and Allowance for Credit Losses - Loans Modified as Troubled Debt Restructurings During Period (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021USD ($)Modification | Sep. 30, 2020USD ($)Modification | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 17 | 8 |
Financing Receivables, Modifications during Period, Balance | $ | $ 2,267 | $ 2,723 |
Real Estate Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 5 | 1 |
Financing Receivables, Modifications during Period, Balance | $ | $ 1,746 | $ 296 |
Real Estate Loan | 1-4 Family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 2 | 0 |
Financing Receivables, Modifications during Period, Balance | $ | $ 323 | $ 0 |
Construction and Land Development | Real Estate Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 1 | 0 |
Financing Receivables, Modifications during Period, Balance | $ | $ 492 | $ 0 |
Agricultural | Real Estate Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 1 | 0 |
Financing Receivables, Modifications during Period, Balance | $ | $ 250 | $ 0 |
Commercial Real Estate | Real Estate Loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 1 | 1 |
Financing Receivables, Modifications during Period, Balance | $ | $ 681 | $ 296 |
Agricultural Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 1 | 2 |
Financing Receivables, Modifications during Period, Balance | $ | $ 156 | $ 88 |
Commercial and Industrial Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 6 | 4 |
Financing Receivables, Modifications during Period, Balance | $ | $ 287 | $ 2,328 |
Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 4 | 1 |
Financing Receivables, Modifications during Period, Balance | $ | $ 54 | $ 11 |
All Other Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivables, Modifications during Period, Number | Modification | 1 | 0 |
Financing Receivables, Modifications during Period, Balance | $ | $ 24 | $ 0 |
Loans and Allowance for Cred_12
Loans and Allowance for Credit Losses - Summary of Purchased Credit Deteriorated (PCD) Loans (Details) - LINCO Bancshares, Inc. - USD ($) $ in Thousands | Feb. 22, 2021 | Sep. 30, 2021 |
Summary Of Purchased Credit Deteriorated Loans [Line Items] | ||
Purchase price of purchase credit deteriorated loans at acquisition | $ 64,647 | |
Allowance for credit losses at acquisition | $ (2,000) | (2,074) |
Non-credit discount/(premium) at acquisition | (187) | |
Fair value of purchased credit deteriorated loans at acquisition | $ 62,386 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Schedule of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Finite Lived Intangible Assets [Line Items] | ||
Goodwill, Gross Carrying Value | $ 115,613 | $ 108,752 |
Goodwill, Accumulated Amortization | 3,760 | 3,760 |
Goodwill and Intangible Assets, Gross Carrying Value | 178,533 | 160,511 |
Goodwill and Intangible Assets, Accumulated Amortization | 36,332 | 32,907 |
Intangibles from Branch Acquisition | ||
Finite Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross Carrying Value | 3,015 | 3,015 |
Intangible Assets, Accumulated Amortization | 3,015 | 3,015 |
Core Deposit Intangibles | ||
Finite Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross Carrying Value | 39,344 | 32,355 |
Intangible Assets, Accumulated Amortization | 23,181 | 20,910 |
Other Intangibles | ||
Finite Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross Carrying Value | 20,561 | 16,389 |
Intangible Assets, Accumulated Amortization | $ 6,376 | $ 5,222 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Feb. 22, 2021 | Dec. 31, 2020 |
Finite Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 111,853 | $ 104,992 | |||
BBM & Associates, Inc. | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 1,400 | ||||
LINCO Bancshares, Inc. | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 5,449 | $ 9,000 | $ 5,449 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded (Details) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2021 | Mar. 31, 2021 | Feb. 22, 2021 | Dec. 31, 2020 | |
Less purchase accounting adjustments: | ||||
Goodwill | $ 111,853 | $ 104,992 | ||
LINCO Bancshares, Inc. | ||||
Goodwill [Line Items] | ||||
Unallocated purchase price | 12,248 | |||
Less purchase accounting adjustments: | ||||
Fair value of securities | 264 | |||
Fair value of loans, net | (2,818) | |||
Fair value of other real estate owned | 915 | |||
Fair value of premises and equipment | 6,360 | |||
Fair value of time deposits | (2,081) | |||
Fair value of FHLB advances | (975) | |||
Core deposit intangible | 2,025 | |||
Other assets | 3,293 | |||
Other liabilities | (184) | |||
Goodwill, purchase accounting adjustments | 6,799 | |||
Goodwill | $ 5,449 | $ 9,000 | $ 5,449 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Intangible Assets Mortgage Servicing Rights (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Finite Lived Intangible Assets [Line Items] | |||
Fair market value adjustment | $ (115,000) | ||
Mortgage Servicing Rights | |||
Finite Lived Intangible Assets [Line Items] | |||
Beginning balance | 516,000 | $ 1,444,000 | $ 1,444,000 |
Fair market value adjustment | 474,000 | (328,000) | (273,000) |
Mortgage servicing rights amortized | (528,000) | (415,000) | (593,000) |
Interest only strip | (7,000) | (40,000) | (62,000) |
Ending balance | $ 455,000 | $ 661,000 | $ 516,000 |
Goodwill and Intangible Asset_6
Goodwill and Intangible Assets - Schedule of Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Finite Lived Intangible Assets [Line Items] | ||||
Amortization of intangible assets | $ 1,414 | $ 1,277 | $ 3,929 | $ 3,862 |
Core Deposit Intangibles | ||||
Finite Lived Intangible Assets [Line Items] | ||||
Amortization of intangible assets | 809 | 804 | 2,247 | 2,468 |
Customer List Intangibles | ||||
Finite Lived Intangible Assets [Line Items] | ||||
Amortization of intangible assets | 432 | 326 | 1,154 | 979 |
Mortgage Servicing Rights | ||||
Finite Lived Intangible Assets [Line Items] | ||||
Amortization of intangible assets | $ 173 | $ 147 | $ 528 | $ 415 |
Goodwill and Intangible Asset_7
Goodwill and Intangible Assets - Schedule of Expected Amortization Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Aggregate amortization expense: | ||||
For period 01/01/21-9/30/21 | $ 1,414 | $ 1,277 | $ 3,929 | $ 3,862 |
Estimated amortization expense: | ||||
For period 10/01/21-12/31/21 | 2,729 | 2,729 | ||
For year ended 12/31/22 | 5,119 | 5,119 | ||
For year ended 12/31/23 | 4,680 | 4,680 | ||
For year ended 12/31/24 | 4,292 | 4,292 | ||
For year ended 12/31/25 | 3,861 | 3,861 | ||
For year ended 12/31/26 | $ 3,091 | $ 3,091 |
Repurchase Agreements and Oth_3
Repurchase Agreements and Other Borrowings - Additional Information (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Repurchase Agreements And Other Borrowings [Abstract] | ||
Securities sold under agreements to repurchase | $ 149,891,000 | $ 206,937,000 |
Securities sold under agreements to repurchase increase (decrease) | $ (57,000,000) | |
Securities sold under agreements to repurchase weighted average rate | 0.13% | |
FHLB borrowings | $ 111,900,000 | $ 94,000,000 |
FHLB premium on borrowing | $ 700,000 |
Repurchase Agreements and Oth_4
Repurchase Agreements and Other Borrowings - Schedule of Securities Financing Transactions (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Securities pledged to Repurchase Agreements | $ 149,891 | $ 206,937 |
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Securities pledged to Repurchase Agreements | 56,324 | 37,423 |
Mortgage-backed Securities: GSE Residential | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Securities pledged to Repurchase Agreements | 93,567 | 168,480 |
Miscellaneous | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Securities pledged to Repurchase Agreements | $ 0 | $ 1,034 |
Repurchase Agreements and Oth_5
Repurchase Agreements and Other Borrowings - Federal Home Loan Bank, Advances (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 111,900,000 | $ 94,000,000 |
Interest Rate 2.55% - Maturity Date October 1, 2021 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 7 years | |
Federal Home Loan Bank, Advances, Interest Rate | 2.55% | |
Federal Home Loan Bank, Advances, Maturity Date | Oct. 1, 2021 | |
Interest Rate 2.71% - Maturity Date March 21, 2022 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 5 years | |
Federal Home Loan Bank, Advances, Interest Rate | 2.71% | |
Federal Home Loan Bank, Advances, Maturity Date | Mar. 21, 2022 | |
Interest Rate 0.00% - Maturity Date May 31, 2022 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 1 year | |
Federal Home Loan Bank, Advances, Interest Rate | 0.00% | |
Federal Home Loan Bank, Advances, Maturity Date | May 31, 2022 | |
Interest Rate 2.41% - Maturity Date May 31, 2022 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 3 years | |
Federal Home Loan Bank, Advances, Interest Rate | 2.41% | |
Federal Home Loan Bank, Advances, Maturity Date | May 31, 2022 | |
Interest Rate 2.12% - Maturity Date June 7, 2022 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 3 years | |
Federal Home Loan Bank, Advances, Interest Rate | 2.12% | |
Federal Home Loan Bank, Advances, Maturity Date | Jun. 7, 2022 | |
Interest Rate 2.40% - Maturity Date January 9, 2023 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 8 years | |
Federal Home Loan Bank, Advances, Interest Rate | 2.40% | |
Federal Home Loan Bank, Advances, Maturity Date | Jan. 9, 2023 | |
Interest Rate 2.44% - Maturity Date May 30, 2023 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 4 years | |
Federal Home Loan Bank, Advances, Interest Rate | 2.44% | |
Federal Home Loan Bank, Advances, Maturity Date | May 30, 2023 | |
Interest Rate 1.51% - Maturity Date July 31, 2023 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 3 years 6 months | |
Federal Home Loan Bank, Advances, Interest Rate | 1.51% | |
Federal Home Loan Bank, Advances, Maturity Date | Jul. 31, 2023 | |
Interest Rate 0.77% - Maturity Date September 11, 2023 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 3 years 6 months | |
Federal Home Loan Bank, Advances, Interest Rate | 0.77% | |
Federal Home Loan Bank, Advances, Maturity Date | Sep. 11, 2023 | |
Interest Rate 1.45% - Maturity Date December 31, 2024 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 10,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 5 years | |
Federal Home Loan Bank, Advances, Interest Rate | 1.45% | |
Federal Home Loan Bank, Advances, Maturity Date | Dec. 31, 2024 | |
Interest Rate 0.91% - Maturity Date March 10, 2025 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 5 years | |
Federal Home Loan Bank, Advances, Interest Rate | 0.91% | |
Federal Home Loan Bank, Advances, Maturity Date | Mar. 10, 2025 | |
Interest Rate 2.64% - Maturity Date December 23, 2025 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 6,940,511 | |
Federal Home Loan Bank Advances, Term (in years) | 10 years | |
Federal Home Loan Bank, Advances, Interest Rate | 2.64% | |
Federal Home Loan Bank, Advances, Maturity Date | Dec. 23, 2025 | |
Interest Rate 1.14% - Maturity Date October 3, 2029 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 10 years | |
Federal Home Loan Bank, Advances, Interest Rate | 1.14% | |
Federal Home Loan Bank, Advances, Maturity Date | Oct. 3, 2029 | |
Interest Rate 1.15% - Maturity Date October 3, 2029 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 10 years | |
Federal Home Loan Bank, Advances, Interest Rate | 1.15% | |
Federal Home Loan Bank, Advances, Maturity Date | Oct. 3, 2029 | |
Interest Rate 1.12% - Maturity Date October 3, 2029 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 5,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 10 years | |
Federal Home Loan Bank, Advances, Interest Rate | 1.12% | |
Federal Home Loan Bank, Advances, Maturity Date | Oct. 3, 2029 | |
Interest Rate 1.39% - Maturity Date December 31, 2029 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 10,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 10 years | |
Federal Home Loan Bank, Advances, Interest Rate | 1.39% | |
Federal Home Loan Bank, Advances, Maturity Date | Dec. 31, 2029 | |
Interest Rate 1.41% - Maturity Date December 31, 2029 | ||
Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
Federal Home Loan Bank Advances | $ 15,000,000 | |
Federal Home Loan Bank Advances, Term (in years) | 10 years | |
Federal Home Loan Bank, Advances, Interest Rate | 1.41% | |
Federal Home Loan Bank, Advances, Maturity Date | Dec. 31, 2029 |
Fair Value of Assets and Liab_3
Fair Value of Assets and Liabilities - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale securities: | ||
Total available-for-sale securities | $ 1,346,966,000 | $ 879,240,000 |
Equity securities, at fair value | 348,000 | 218,000 |
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 191,684,000 | 127,069,000 |
Obligations of States and Political Subdivisions | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 338,744,000 | 249,844,000 |
Mortgage-backed Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 782,615,000 | 491,348,000 |
Other Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 33,923,000 | 10,979,000 |
Fair Value, Recurring | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 1,346,966,000 | 879,240,000 |
Equity securities, at fair value | 348,000 | 218,000 |
Derivative assets, Interest rate swaps | 35,000 | 1,399,000 |
Total assets | 1,347,349,000 | 880,857,000 |
Derivative liabilities, Interest rate swaps | 899,000 | 2,892,000 |
Fair Value, Recurring | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 191,684,000 | 127,069,000 |
Fair Value, Recurring | Obligations of States and Political Subdivisions | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 338,744,000 | 249,844,000 |
Fair Value, Recurring | Mortgage-backed Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 782,615,000 | 491,348,000 |
Fair Value, Recurring | Other Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 33,923,000 | 10,979,000 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 0 | 0 |
Equity securities, at fair value | 348,000 | 218,000 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 0 | 0 |
Equity securities, at fair value | 348,000 | 218,000 |
Derivative assets, Interest rate swaps | 0 | 0 |
Total assets | 348,000 | 218,000 |
Derivative liabilities, Interest rate swaps | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring | Obligations of States and Political Subdivisions | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring | Mortgage-backed Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring | Other Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 1,346,351,000 | 878,446,000 |
Equity securities, at fair value | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 1,346,350,000 | 878,446,000 |
Equity securities, at fair value | 0 | 193,000 |
Derivative assets, Interest rate swaps | 35,000 | 1,399,000 |
Total assets | 1,346,385,000 | 880,038,000 |
Derivative liabilities, Interest rate swaps | 899,000 | 2,892,000 |
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 191,684,000 | 127,069,000 |
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | Obligations of States and Political Subdivisions | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 338,128,000 | 249,050,000 |
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | Mortgage-backed Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 782,615,000 | 491,348,000 |
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | Other Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 33,923,000 | 10,979,000 |
Significant Unobservable Inputs (Level 3) | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 615,000 | 794,000 |
Equity securities, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 616,000 | 794,000 |
Equity securities, at fair value | 0 | 0 |
Derivative assets, Interest rate swaps | 0 | 0 |
Total assets | 616,000 | 794,000 |
Derivative liabilities, Interest rate swaps | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Obligations of States and Political Subdivisions | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 616,000 | 794,000 |
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Mortgage-backed Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Other Securities | ||
Available-for-sale securities: | ||
Total available-for-sale securities | $ 0 | $ 0 |
Fair Value of Assets and Liab_4
Fair Value of Assets and Liabilities - Fair Value of Assets Measured on a Recurring Basis Using Significant Unobservable Inputs (Details) - Obligations of States and Political Subdivisions - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ 615 | $ 792 | $ 794 | $ 973 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Total gains or losses: | ||||
Included in net income | 1 | 1 | 3 | 4 |
Included in other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Purchases, issuances, sales and settlements: | ||||
Purchases | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | (181) | (184) |
Ending balance | 616 | 793 | 616 | 793 |
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value of Assets and Liab_5
Fair Value of Assets and Liabilities - Additional Information (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Allowance for Credit Losses | $ 2,532,000 | |||
Other real estate owned | 5,625,000 | $ 2,489,000 | ||
Mortgage servicing rights (MSR) impairment (recovery) | 115,000 | |||
Mortgage Servicing Rights | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Finite-lived intangible assets, net | 455,000 | $ 661,000 | 516,000 | $ 1,444,000 |
Mortgage servicing rights (MSR) impairment (recovery) | (474,000) | $ 328,000 | $ 273,000 | |
Fair Value, Nonrecurring | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Unpaid Principal Balance | 16,035,000 | |||
Recorded Balance | 13,682,000 | |||
Allowance for Credit Losses | 2,353,000 | |||
Fair Value, Nonrecurring | Mortgage Servicing Rights | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Indefinite-lived contractual rights | 570,000 | |||
Finite-lived intangible assets, net | 455,000 | |||
Fair Value, Nonrecurring | Carrying Amount | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Other real estate owned | 5,625,000 | |||
Fair Value, Nonrecurring | Fair Value | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Other real estate owned | $ 1,720,000 |
Fair Value of Assets and Liab_6
Fair Value of Assets and Liabilities - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Collateral Dependent Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | $ 13,682 | $ 14,876 |
Foreclosed Assets Held-for-sale | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 1,720 | 290 |
Mortgage Servicing Rights | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 455 | 516 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateral Dependent Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreclosed Assets Held-for-sale | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage Servicing Rights | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Collateral Dependent Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Foreclosed Assets Held-for-sale | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Mortgage Servicing Rights | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Collateral Dependent Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 13,682 | 14,876 |
Significant Unobservable Inputs (Level 3) | Foreclosed Assets Held-for-sale | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 1,720 | 290 |
Significant Unobservable Inputs (Level 3) | Mortgage Servicing Rights | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | $ 455 | $ 517 |
Fair Value of Assets and Liab_7
Fair Value of Assets and Liabilities - Significant Unobservable Inputs Used in Valuation of Level 3 Fair Value Measurements (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Mortgage Servicing Rights | Minimum | Level 3 | Third Party Valuations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Mortgage servicing rights | 230.00% | 242.00% |
Mortgage Servicing Rights | Maximum | Level 3 | Third Party Valuations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Mortgage servicing rights | 438.00% | 441.00% |
Mortgage Servicing Rights | Weighted Average | Level 3 | Third Party Valuations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Mortgage servicing rights | 281.00% | 384.00% |
Collateral Dependent Loans | Minimum | Level 3 | Third Party Valuations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Collateral dependent loans | 0.00% | 0.00% |
Collateral Dependent Loans | Maximum | Level 3 | Third Party Valuations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Collateral dependent loans | 40.00% | 40.00% |
Collateral Dependent Loans | Weighted Average | Level 3 | Third Party Valuations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Collateral dependent loans | 20.00% | 20.00% |
Foreclosed Assets Held-for-sale | Minimum | Level 3 | Third Party Valuations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Collateral dependent loans | 0.00% | 0.00% |
Foreclosed Assets Held-for-sale | Maximum | Level 3 | Third Party Valuations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Collateral dependent loans | 40.00% | 40.00% |
Foreclosed Assets Held-for-sale | Weighted Average | Level 3 | Third Party Valuations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Collateral dependent loans | 35.00% | 35.00% |
Fair Value, Nonrecurring | Mortgage Servicing Rights | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | $ 455 | $ 517 |
Fair Value, Nonrecurring | Collateral Dependent Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 13,682 | 14,876 |
Fair Value, Nonrecurring | Collateral Dependent Loans | Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 13,682 | 14,876 |
Fair Value, Nonrecurring | Foreclosed Assets Held-for-sale | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | $ 1,720 | $ 290 |
Fair Value of Assets and Liab_8
Fair Value of Assets and Liabilities - Summary of Estimated Fair Values of Company Financial Instruments (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Financial assets | ||
Total available-for-sale securities | $ 1,346,966,000 | $ 879,240,000 |
Held-to-maturity securities | 7,057,000 | 5,119,000 |
Equity securities | 348,000 | 218,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Cash and due from banks | 343,859,000 | 415,973,000 |
Federal funds sold | 1,347,000 | 1,308,000 |
Certificates of deposit investments | 0 | 0 |
Total available-for-sale securities | 0 | 0 |
Held-to-maturity securities | 2,022,000 | 0 |
Equity securities | 348,000 | 218,000 |
Loans held for sale | 0 | 0 |
Loans net of allowance for credit losses | 0 | 0 |
Interest receivable | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Financial liabilities | ||
Deposits | 0 | 0 |
Securities sold under agreements to repurchase | 0 | 0 |
Interest payable | 0 | 0 |
Federal Home Loan Bank borrowings | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Subordinated Debt | ||
Financial liabilities | ||
Subordinated debt, net | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Junior Subordinated Debentures | ||
Financial liabilities | ||
Subordinated debt, net | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Cash and due from banks | 0 | 0 |
Federal funds sold | 0 | 0 |
Certificates of deposit investments | 2,695,000 | 2,695,000 |
Total available-for-sale securities | 1,346,351,000 | 878,446,000 |
Held-to-maturity securities | 5,035,000 | 5,119,000 |
Equity securities | 0 | 0 |
Loans held for sale | 1,897,000 | 1,924,000 |
Loans net of allowance for credit losses | 0 | 0 |
Interest receivable | 22,057,000 | 19,287,000 |
Federal Reserve Bank stock | 13,845,000 | 9,401,000 |
Federal Home Loan Bank stock | 6,528,000 | 5,450,000 |
Financial liabilities | ||
Deposits | 4,347,567,000 | 3,215,715,000 |
Securities sold under agreements to repurchase | 149,896,000 | 206,945,000 |
Interest payable | 2,569,000 | 2,345,000 |
Federal Home Loan Bank borrowings | 113,205,000 | 96,669,000 |
Fair Value, Inputs, Level 2 [Member] | Subordinated Debt | ||
Financial liabilities | ||
Subordinated debt, net | 94,363,000 | 94,253,000 |
Fair Value, Inputs, Level 2 [Member] | Junior Subordinated Debentures | ||
Financial liabilities | ||
Subordinated debt, net | 14,528,000 | 14,604,000 |
Level 3 | ||
Financial assets | ||
Cash and due from banks | 0 | 0 |
Federal funds sold | 0 | 0 |
Certificates of deposit investments | 0 | 0 |
Total available-for-sale securities | 615,000 | 794,000 |
Held-to-maturity securities | 0 | 0 |
Equity securities | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans net of allowance for credit losses | 3,830,149,000 | 3,056,344,000 |
Interest receivable | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Financial liabilities | ||
Deposits | 643,658,000 | 481,390,000 |
Securities sold under agreements to repurchase | 0 | 0 |
Interest payable | 0 | 0 |
Federal Home Loan Bank borrowings | 0 | 0 |
Level 3 | Subordinated Debt | ||
Financial liabilities | ||
Subordinated debt, net | 0 | 0 |
Level 3 | Junior Subordinated Debentures | ||
Financial liabilities | ||
Subordinated debt, net | 0 | 0 |
Carrying Amount | ||
Financial assets | ||
Cash and due from banks | 343,859,000 | 415,973,000 |
Federal funds sold | 1,347,000 | 1,308,000 |
Certificates of deposit investments | 2,695,000 | 2,695,000 |
Total available-for-sale securities | 1,346,966,000 | 879,240,000 |
Held-to-maturity securities | 7,026,000 | 5,016,000 |
Equity securities | 348,000 | 218,000 |
Loans held for sale | 1,897,000 | 1,924,000 |
Loans net of allowance for credit losses | 3,891,889,000 | 3,094,585,000 |
Interest receivable | 22,057,000 | 19,287,000 |
Federal Reserve Bank stock | 13,845,000 | 9,401,000 |
Federal Home Loan Bank stock | 6,528,000 | 5,450,000 |
Financial liabilities | ||
Deposits | 4,988,562,000 | 3,692,784,000 |
Securities sold under agreements to repurchase | 149,891,000 | 206,937,000 |
Interest payable | 2,569,000 | 2,345,000 |
Federal Home Loan Bank borrowings | 112,641,000 | 93,969,000 |
Carrying Amount | Subordinated Debt | ||
Financial liabilities | ||
Subordinated debt, net | 94,363,000 | 94,253,000 |
Carrying Amount | Junior Subordinated Debentures | ||
Financial liabilities | ||
Subordinated debt, net | 19,153,000 | 19,027,000 |
Fair Value | ||
Financial assets | ||
Cash and due from banks | 343,859,000 | 415,973,000 |
Federal funds sold | 1,347,000 | 1,308,000 |
Certificates of deposit investments | 2,695,000 | 2,695,000 |
Total available-for-sale securities | 1,346,966,000 | 879,240,000 |
Held-to-maturity securities | 7,057,000 | 5,119,000 |
Equity securities | 348,000 | 218,000 |
Loans held for sale | 1,897,000 | 1,924,000 |
Loans net of allowance for credit losses | 3,830,149,000 | 3,056,344,000 |
Interest receivable | 22,057,000 | 19,287,000 |
Federal Reserve Bank stock | 13,845,000 | 9,401,000 |
Federal Home Loan Bank stock | 6,528,000 | 5,450,000 |
Financial liabilities | ||
Deposits | 4,991,225,000 | 3,697,105,000 |
Securities sold under agreements to repurchase | 149,896,000 | 206,945,000 |
Interest payable | 2,569,000 | 2,345,000 |
Federal Home Loan Bank borrowings | 113,205,000 | 96,669,000 |
Fair Value | Subordinated Debt | ||
Financial liabilities | ||
Subordinated debt, net | 94,363,000 | 94,253,000 |
Fair Value | Junior Subordinated Debentures | ||
Financial liabilities | ||
Subordinated debt, net | $ 14,528,000 | $ 14,604,000 |
Business Combinations - Additio
Business Combinations - Additional Information (Details) - USD ($) | Feb. 22, 2021 | Sep. 25, 2020 | Sep. 30, 2021 | Dec. 31, 2020 |
Business Acquisition [Line Items] | ||||
Common stock, par value (in dollars per share) | $ 4 | $ 4 | ||
LINCO Bancshares, Inc. | ||||
Business Acquisition [Line Items] | ||||
Percentage of issued and outstanding shares acquired | 100.00% | |||
Common stock, par value (in dollars per share) | $ 1 | |||
Share Price | $ 4 | |||
Consideration paid in cash | $ 103,500,000 | $ 103,500,000 | ||
Consideration paid in shares | 1,262,246 | |||
Dividends paid | $ 13,000,000 | |||
Goodwill acquired during period | 5,400,000 | |||
Pre-tax of acquisition costs | 9,000,000 | $ 8,500,000 | ||
Loans | 828,976,000 | |||
Accreted to interest income over the remaining term of loans | 11,100,000 | |||
Elimination of deferred fees and unearned discounts previously recorded by Providence Bank | 1,700,000 | |||
Allowance for credit losses for loans identified as PCD | 2,000,000 | 2,074,000 | ||
Purchased credit deteriorated loans | $ 64,647,000 | |||
Change in acquired time deposits | 990,410,000 | |||
Change in FHLB advances | 27,916,000 | |||
LINCO Bancshares, Inc. | Core Deposit Intangibles | ||||
Business Acquisition [Line Items] | ||||
Intangible assets fair value | $ 2,148,000 | |||
Intangible asset estimated useful life | 10 years | |||
LINCO Bancshares, Inc. | Fair Value Adjustments | ||||
Business Acquisition [Line Items] | ||||
Loans | $ (9,401,000) | |||
Change in acquired time deposits | 2,081,000 | |||
Change in FHLB advances | 975,000 | |||
LINCO Bancshares, Inc. | Fair Value Adjustments | Core Deposit Intangibles | ||||
Business Acquisition [Line Items] | ||||
Intangible assets fair value | 2,025,000 | |||
LINCO Bancshares, Inc. | Acquired Book Value | ||||
Business Acquisition [Line Items] | ||||
Loans | 838,377,000 | |||
Purchased credit deteriorated loans | 64,600,000 | |||
Change in acquired time deposits | 988,329,000 | |||
Change in FHLB advances | 26,941,000 | |||
LINCO Bancshares, Inc. | Acquired Book Value | Core Deposit Intangibles | ||||
Business Acquisition [Line Items] | ||||
Intangible assets fair value | $ 123,000 |
Business Combinations - Estimat
Business Combinations - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) | Feb. 22, 2021 | Sep. 25, 2020 | Sep. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | |||||
Goodwill | $ 111,853,000 | $ 104,992,000 | |||
LINCO Bancshares, Inc. | |||||
Assets | |||||
Cash and due from banks | $ 130,561,000 | ||||
Investment securities | 119,498,000 | ||||
Loans | 828,976,000 | ||||
Allowance for credit losses | (2,073,000) | ||||
Other real estate owned | 9,350,000 | ||||
Premises and equipment | 29,800,000 | ||||
Goodwill | 5,449,000 | $ 5,449,000 | $ 9,000,000 | ||
Other assets | 46,196,000 | ||||
Total assets acquired | 1,170,699,000 | ||||
Liabilities | |||||
Deposits | 990,410,000 | ||||
Securities sold under agreements to repurchase | 0 | ||||
FHLB advances | 27,916,000 | ||||
Other borrowings | 0 | ||||
Lease liability | 794,000 | ||||
Other liabilities | 3,888,000 | ||||
Total liabilities assumed | 1,023,008,000 | ||||
Net assets acquired | 147,691,000 | ||||
Consideration paid | |||||
Consideration payable in cash | 103,500,000 | $ 103,500,000 | |||
Common stock | 44,191,000 | ||||
Total Consideration Paid | 147,691,000 | ||||
LINCO Bancshares, Inc. | Acquired Book Value | |||||
Assets | |||||
Cash and due from banks | 130,561,000 | ||||
Investment securities | 119,234,000 | ||||
Loans | 838,377,000 | ||||
Allowance for credit losses | (8,656,000) | ||||
Other real estate owned | 8,435,000 | ||||
Premises and equipment | 23,440,000 | ||||
Goodwill | 20,503,000 | ||||
Other assets | 43,697,000 | ||||
Total assets acquired | 1,175,714,000 | ||||
Liabilities | |||||
Deposits | 988,329,000 | ||||
Securities sold under agreements to repurchase | 0 | ||||
FHLB advances | 26,941,000 | ||||
Other borrowings | 0 | ||||
Lease liability | 0 | ||||
Other liabilities | 4,498,000 | ||||
Total liabilities assumed | 1,019,768,000 | ||||
Net assets acquired | 155,946,000 | ||||
LINCO Bancshares, Inc. | Fair Value Adjustments | |||||
Assets | |||||
Cash and due from banks | 0 | ||||
Investment securities | 264,000 | ||||
Loans | (9,401,000) | ||||
Allowance for credit losses | 6,583,000 | ||||
Other real estate owned | 915,000 | ||||
Premises and equipment | 6,360,000 | ||||
Goodwill | (15,054,000) | ||||
Other assets | 2,499,000 | ||||
Total assets acquired | (5,015,000) | ||||
Liabilities | |||||
Deposits | 2,081,000 | ||||
Securities sold under agreements to repurchase | 0 | ||||
FHLB advances | 975,000 | ||||
Other borrowings | 0 | ||||
Lease liability | 794,000 | ||||
Other liabilities | (610,000) | ||||
Total liabilities assumed | 3,240,000 | ||||
Net assets acquired | (8,255,000) | ||||
LINCO Bancshares, Inc. | Core Deposit Intangibles | |||||
Assets | |||||
Intangible assets | 2,148,000 | ||||
LINCO Bancshares, Inc. | Core Deposit Intangibles | Acquired Book Value | |||||
Assets | |||||
Intangible assets | 123,000 | ||||
LINCO Bancshares, Inc. | Core Deposit Intangibles | Fair Value Adjustments | |||||
Assets | |||||
Intangible assets | 2,025,000 | ||||
LINCO Bancshares, Inc. | Right of Use Asset | |||||
Assets | |||||
Intangible assets | 794,000 | ||||
LINCO Bancshares, Inc. | Right of Use Asset | Acquired Book Value | |||||
Assets | |||||
Intangible assets | 0 | ||||
LINCO Bancshares, Inc. | Right of Use Asset | Fair Value Adjustments | |||||
Assets | |||||
Intangible assets | $ 794,000 |
Business Combinations - Unaudit
Business Combinations - Unaudited Pro Forma Condensed Combined Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Business Combinations [Abstract] | ||||
Net interest income | $ 45,496 | $ 43,717 | $ 131,713 | $ 127,341 |
Provision for loan losses | 1,103 | 4,211 | 12,879 | 17,379 |
Non-interest income | 16,359 | 15,439 | 53,504 | 48,214 |
Non-interest expense | 36,321 | 36,100 | 124,133 | 113,461 |
Income before taxes | 24,431 | 18,845 | 48,205 | 44,715 |
Income tax expense (benefit) | 6,105 | 4,753 | 11,052 | 10,865 |
Net income (loss) | $ 18,326 | $ 14,092 | $ 37,153 | $ 33,850 |
Earnings per share | ||||
Basic | $ 1.01 | $ 0.78 | $ 2.08 | $ 1.88 |
Diluted | $ 1.01 | $ 0.78 | $ 2.08 | $ 1.88 |
Basic weighted average shares o/s | 18,083,126 | 17,990,437 | 17,819,619 | 17,972,731 |
Diluted weighted average shares o/s | 18,136,146 | 18,037,345 | 17,872,639 | 18,019,639 |
Leases - Additional Information
Leases - Additional Information (Details) | Sep. 30, 2021 |
Minimum | |
Lessee Lease Description [Line Items] | |
Renewal term | 1 year |
Maximum | |
Lessee Lease Description [Line Items] | |
Renewal term | 25 years |
Leases - Summary of Supplementa
Leases - Summary of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Leases, Operating [Abstract] | |||
Operating lease right-of-use assets | $ 16,120 | $ 17,209 | $ 16,703 |
Operating lease liabilities | $ 16,315 | $ 17,351 | $ 16,817 |
Weighted-average remaining lease term (in years) | 6 years 8 months 12 days | 7 years 3 months 18 days | 6 years 6 months |
Weighted-average discount rate | 2.64% | 2.85% | 2.81% |
Leases - Summary of Maturities
Leases - Summary of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | |||
2021 | $ 720 | ||
2022 | 2,679 | ||
2023 | 2,356 | ||
2024 | 1,945 | ||
2025 | 1,632 | ||
Thereafter | 9,193 | ||
Total lease payments | 18,525 | ||
Less imputed interest | (2,210) | ||
Operating lease liabilities | $ 16,315 | $ 17,351 | $ 16,817 |
Leases - Summary of Components
Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Lease, Cost [Abstract] | ||||
Operating lease cost | $ 604 | $ 762 | $ 2,052 | $ 2,207 |
Short-term lease cost | 11 | 14 | 96 | 42 |
Variable lease cost | 373 | 180 | 622 | 376 |
Total lease cost | 988 | 956 | 2,770 | 2,625 |
Income from subleases | (132) | (185) | (452) | (577) |
Net lease cost | $ 856 | $ 771 | $ 2,318 | $ 2,048 |
Leases - Summary of Operating L
Leases - Summary of Operating Lease Cash Flows (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 2,161 | $ 2,092 |
Derivatives - Schedule of Deriv
Derivatives - Schedule of Derivative Instruments (Details) - Fair Value Hedging - Designated As Hedging Instrument - Interest Rate Swap Agreements - Other Liabilities - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Derivative [Line Items] | ||
Derivative, Weighted Average Remaining Maturity (Years) | 7 years 7 months 6 days | 8 years 3 months 18 days |
Derivative Liability, Notional Amount | $ 14,057 | $ 14,334 |
Derivative Liability, Estimated Value | $ (899) | $ (2,892) |
Derivatives - Summary of Deriva
Derivatives - Summary of Derivative Instruments, Gain (Loss) (Details) - Fair Value Hedging - Interest Rate Swap Agreements - Interest Income On Loans - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Derivative [Line Items] | ||||
Gain (Loss) on Derivative | $ (38) | $ 38 | $ (629) | $ (1,218) |
Gain (Loss) on Hedged Item | $ 38 | $ (38) | $ 629 | $ 1,218 |
Derivatives - Summary of Hedged
Derivatives - Summary of Hedged Instrument (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Hedged Instruments [Abstract] | |
Carrying Amount of the Hedged Asset | $ 13,192 |
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset | $ 864 |
Derivatives - Summary of Non He
Derivatives - Summary of Non Hedge Instruments (Details) - Not Designated as Hedging Instrument - Interest Rate Swap Agreements $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Other Assets | |
Derivative [Line Items] | |
Derivative, Weighted Average Remaining Maturity (Years) | 6 years 3 months 18 days |
Derivative Assets, Notional Amount | $ 41,333 |
Derivative Assets, Estimated Value | $ 35 |
Other Liabilities | |
Derivative [Line Items] | |
Derivative, Weighted Average Remaining Maturity (Years) | 6 years 3 months 18 days |
Derivative Liability, Notional Amount | $ 41,333 |
Derivative Liability, Estimated Value | $ (35) |