Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 Loans and the Allowance for Credit Losses Loans Receivable: December 31, 2023 December 31, 2022 2023 2022 (dollars in thousands) Commercial (1) $ 1,578,730 $ 1,472,734 Commercial real estate 5,895,545 5,795,228 Commercial construction 620,496 574,139 Residential real estate 256,041 264,748 Consumer 1,029 2,312 Gross loans 8,351,841 8,109,161 Net deferred fees (6,696 ) (9,472 ) Loans receivable $ 8,345,145 $ 8,099,689 ( 1 December 31, 2023 December 31, 2022, As of December 31, 2023 2022 2023, • The repayment of commercial loans is generally dependent on the creditworthiness and cash flow of borrowers, and if applicable, guarantors, which may not may • Payment on commercial real estate is driven principally by operating results of the managed properties or underlying business and secondarily by the sale or refinance of such properties. Both primary and secondary sources of repayment, and value of the properties in liquidation, may • Properties underlying construction, land and land development loans often do not • The ability of borrowers to service debt in the residential and consumer loan portfolios is generally subject to personal income which may first second may • The Company considers loan classes and loan segments to be one Loans Held-For-Sale December 31, 2023 December 31, 2022 2023 2022 (dollars in thousands) Commercial $ - $ 13,473 Residential real estate - 299 Total carrying amount $ - $ 13,772 Loans Receivable on Nonaccrual Status December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022: December 31, 2023 Nonaccrual loans with ACL Nonaccrual loans without ACL Total Nonaccrual loans (dollars in thousands) Commercial $ 1,763 $ 11,064 $ 12,827 Commercial real estate 8,013 28,179 36,192 Residential real estate 1,033 2,472 3,505 Total $ 10,809 $ 41,715 $ 52,524 December 31, 2022 Nonaccrual loans with ACL Nonaccrual loans without ACL Total Nonaccrual loans (dollars in thousands) Commercial $ 23,512 $ 1,745 $ 25,257 Commercial real estate 10,220 6,597 16,817 Residential real estate 604 1,776 2,380 Total $ 34,336 $ 10,118 $ 44,454 Nonaccrual loans include loans that are collectively evaluated and individually analyzed. Credit Quality Indicators third no not may not We evaluate whether a modification, extension or renewal of a loan is a current period origination in accordance with GAAP. Generally, loans up for renewal are subject to a full credit evaluation before the renewal is granted and such loans are considered current period originations for purpose of the table below. As of December 31, 2023 Term loans amortized cost basis by origination year Revolving Total 2023 2022 2021 2020 2019 Prior Loans Gross Loans Commercial Pass $ 178,582 $ 252,151 $ 265,705 $ 38,909 $ 13,726 $ 112,145 $ 684,779 $ 1,545,997 Special mention - 10,620 - - 562 3,417 3,199 17,798 Substandard 250 439 241 1 612 11,695 1,697 14,935 Doubtful - - - - - - - - Total Commercial $ 178,832 $ 263,210 $ 265,946 $ 38,910 $ 14,900 $ 127,257 $ 689,675 $ 1,578,730 Commercial real estate Pass $ 248,660 $ 1,561,841 $ 1,585,109 $ 352,445 $ 353,391 $ 1,232,240 $ 497,588 $ 5,831,274 Special mention - - - - - 24,202 - 24,202 Substandard - - 1,888 - 1,255 20,141 16,785 40,069 Doubtful - - - - - - - - Total Commercial real estate $ 248,660 $ 1,561,841 $ 1,586,997 $ 352,445 $ 354,646 $ 1,276,583 $ 514,373 $ 5,895,545 Commercial construction Pass $ 582 $ 5,463 $ 15,645 $ 6,236 $ - $ - $ 583,870 $ 611,796 Special mention - - - - - - 8,700 8,700 Substandard - - - - - - - - Doubtful - - - - - - - - Total Commercial construction $ 582 $ 5,463 $ 15,645 $ 6,236 $ - $ - $ 592,570 $ 620,496 Residential real estate Pass $ 15,455 $ 42,830 $ 21,987 $ 21,704 $ 19,896 $ 91,114 $ 36,082 $ 249,068 Special mention - - - - - 651 2,817 3,468 Substandard - - 555 - - 2,144 806 3,505 Doubtful - - - - - - - - Total Residential real estate $ 15,455 $ 42,830 $ 22,542 $ 21,704 $ 19,896 $ 93,909 $ 39,705 $ 256,041 Consumer Pass $ 849 $ 83 $ - $ 5 $ - $ - $ 92 $ 1,029 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 849 $ 83 $ - $ 5 $ - $ - $ 92 $ 1,029 Total Pass $ 444,128 $ 1,862,368 $ 1,888,446 $ 419,299 $ 387,013 $ 1,435,499 $ 1,802,411 $ 8,239,164 Special mention - 10,620 - - 562 28,270 14,716 54,168 Substandard 250 439 2,684 1 1,867 33,980 19,288 58,509 Doubtful - - - - - - - - Grand Total $ 444,378 $ 1,873,427 $ 1,891,130 $ 419,300 $ 389,442 $ 1,497,749 $ 1,836,415 $ 8,351,841 As of December 31, 2022, Term loans amortized cost basis by origination year Revolving Total 2022 2021 2020 2019 2018 Prior Loans Gross Loans Commercial Pass $ 301,636 $ 305,721 $ 47,952 $ 28,177 $ 52,950 $ 127,739 $ 550,483 $ 1,414,658 Special mention - - - 583 26 8,551 3,292 12,452 Substandard 7,615 146 15 1,769 11,214 22,596 2,269 45,624 Doubtful - - - - - - - - Total Commercial $ 309,251 $ 305,867 $ 47,967 $ 30,529 $ 64,190 $ 158,886 $ 556,044 $ 1,472,734 Commercial real estate Pass $ 1,571,751 $ 1,608,023 $ 382,987 $ 358,578 $ 375,886 $ 987,982 $ 401,365 $ 5,686,572 Special mention 3,040 - - - - 37,774 8,839 49,653 Substandard - 1,929 - 6,526 19,138 23,287 8,123 59,003 Doubtful - - - - - - - - Total Commercial real estate $ 1,574,791 $ 1,609,952 $ 382,987 $ 365,104 $ 395,024 $ 1,049,043 $ 418,327 $ 5,795,228 Commercial construction Pass $ 8,615 $ 7,605 $ 6,720 $ 508 $ - $ - $ 542,460 $ 565,908 Special mention - - - - - - - - Substandard - - - - - - 8,231 8,231 Doubtful - - - - - - - - Total Commercial construction $ 8,615 $ 7,605 $ 6,720 $ 508 $ - $ - $ 550,691 $ 574,139 Residential real estate Pass $ 45,926 $ 25,318 $ 24,409 $ 21,557 $ 20,284 $ 78,314 $ 41,468 $ 257,276 Special mention - - - - - - - - Substandard - - - - - 3,379 4,093 7,472 Doubtful - - - - - - - - Total Residential real estate $ 45,926 $ 25,318 $ 24,409 $ 21,557 $ 20,284 $ 81,693 $ 45,561 $ 264,748 Consumer Pass $ 2,219 $ - $ 9 $ - $ - $ 2 $ 82 $ 2,312 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 2,219 $ - $ 9 $ - $ - $ 2 $ 82 $ 2,312 Total Pass $ 1,930,147 $ 1,946,667 $ 462,077 $ 408,820 $ 449,120 $ 1,194,037 $ 1,535,858 $ 7,926,726 Special mention 3,040 - - 583 26 46,325 12,131 62,105 Substandard 7,615 2,075 15 8,295 30,352 49,262 22,716 120,330 Doubtful - - - - - - - - Grand Total $ 1,940,802 $ 1,948,742 $ 462,092 $ 417,698 $ 479,498 $ 1,289,624 $ 1,570,705 $ 8,109,161 As of December 31, 2023, Term Loans 2023 2022 2021 2020 2019 Prior Revolving Loans Total Commercial Current period gross write-off $ 54 $ 3,397 $ - $ - $ 280 $ 11,094 $ 63 $ 14,888 Commercial real estate Current period gross write-off $ - $ - $ - $ - $ - $ 2,142 $ - $ 2,142 Commercial construction Current period gross write-off $ - $ - $ - $ - $ - $ - $ - $ - Residential real estate Current period gross write-off $ - $ - $ - $ - $ - $ - $ 18 $ 18 Consumer Current period gross write-off $ - $ - $ - $ - $ - $ - $ 1 $ 1 Total Current period gross write-off $ 54 $ 3,397 $ - $ - $ 280 $ 13,236 $ 82 $ 17,049 Collateral Dependent Loans December 31, 2023 2022: December 31, 2023 Real Estate Other Total (dollars in thousands) Commercial $ 4,949 $ 10,387 $ 15,336 Commercial real estate 39,986 - 39,986 Commercial construction 8,700 - 8,700 Residential real estate 5,941 - 5,941 Total $ 59,576 $ 10,387 $ 69,963 December 31, 2022 Real Estate Other Total (dollars in thousands) Commercial $ 5,352 $ 22,517 $ 27,869 Commercial real estate 52,477 - 52,477 Commercial construction 8,232 - 8,232 Residential real estate 5,864 - 5,864 Total $ 71,925 $ 22,517 $ 94,442 Aging Analysis December 31, 2023 December 31, 2022 December 31, 2023 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due and Still Accruing Nonaccrual Total Past Due and Nonaccrual Current Gross Loans Commercial $ 555 $ - $ - $ 12,827 $ 13,382 $ 1,565,348 $ 1,578,730 Commercial real estate 527 - - 36,192 36,719 5,858,826 5,895,545 Commercial construction - 23,600 - - 23,600 596,896 620,496 Residential real estate 275 226 - 3,505 4,006 252,035 256,041 Consumer - - - - - 1,029 1,029 Total $ 1,357 $ 23,826 $ - $ 52,524 $ 77,707 $ 8,274,134 $ 8,351,841 December 31, 2022 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due and Still Accruing Nonaccrual Total Past Due and Nonaccrual Current Total Loans Receivable Commercial $ 306 $ - $ - $ 25,257 $ 25,563 $ 1,447,171 $ 1,472,734 Commercial real estate 90 - 5,591 16,817 22,498 5,772,730 5,795,228 Commercial construction - - - - - 574,139 574,139 Residential real estate 1,569 - - 2,380 3,949 260,799 264,748 Consumer - - - - - 2,312 2,312 Total $ 1,965 $ - $ 5,591 $ 44,454 $ 52,010 $ 8,057,151 $ 8,109,161 The 90 The following tables detail the amount of gross loans that are individually analyzed, collectively evaluated, and loans acquired with deteriorated quality, and the related portion of the allowance for credit losses for loans that are allocated to each loan portfolio segment. December 31, 2023 Commercial Commercial real estate Commercial construction Residential real estate Consumer Total (dollars in thousands) Allowance for credit losses - loans Individually analyzed $ - $ 941 $ - $ - $ - $ 941 Collectively evaluated 20,215 51,337 4,739 4,320 5 80,616 Acquired with deteriorated credit quality 417 - - - - 417 Total $ 20,632 $ 52,278 $ 4,739 $ 4,320 $ 5 $ 81,974 Gross loans Individually analyzed $ 15,336 $ 39,986 $ 8,700 $ 5,941 $ - $ 69,963 Collectively evaluated 1,562,910 5,855,559 611,796 250,100 1,029 8,281,394 Acquired with deteriorated credit quality 484 - - - - 484 Total $ 1,578,730 $ 5,895,545 $ 620,496 $ 256,041 $ 1,029 $ 8,351,841 December 31, 2022 Commercial Commercial real estate Commercial construction Residential real estate Consumer Total (dollars in thousands) Allowance for credit losses - loans Individually analyzed $ 7,426 $ 1,003 $ - $ 50 $ - $ 8,479 Collectively evaluated 19,319 50,818 3,718 4,093 7 77,955 Acquired with deteriorated credit quality 2,158 1,921 - - - 4,079 Total $ 28,903 $ 53,742 $ 3,718 $ 4,143 $ 7 $ 90,513 Gross loans Individually analyzed $ 30,994 $ 46,886 $ 8,232 $ 5,864 $ - $ 91,976 Collectively evaluated 1,436,866 5,742,751 565,907 258,884 2,312 8,006,720 Acquired with deteriorated credit quality 4,874 5,591 - - - 10,465 Total $ 1,472,734 $ 5,795,228 $ 574,139 $ 264,748 $ 2,312 $ 8,109,161 A summary of the activity in the allowance for credit losses for loans by loan segment is as follows: Commercial Commercial real estate Commercial construction Residential real estate Consumer Total (dollars in thousands) Balance as of January 1, 2023 $ 28,903 $ 53,742 $ 3,718 $ 4,143 $ 7 $ 90,513 Charge-offs (14,888 ) (2,142 ) - (18 ) (1 ) (17,049 ) Recoveries 10 - - 68 8 86 Provision for (reversal) of credit losses 6,607 678 1,021 127 (9 ) 8,424 Balance as of December 31, 2023 $ 20,632 $ 52,278 $ 4,739 $ 4,320 $ 5 $ 81,974 Commercial Commercial real estate Commercial construction Residential real estate Consumer Total (dollars in thousands) Balance as of January 1, 2022 $ 25,969 $ 45,589 $ 3,580 $ 3,628 $ 7 $ 78,773 Charge-offs (2,612 ) (2,819 ) - (9 ) (3 ) (5,443 ) Recoveries 54 - - 63 - 117 Provision for credit losses 5,492 10,972 138 461 3 17,066 Balance as of December 31, 2022 $ 28,903 $ 53,742 $ 3,718 $ 4,143 $ 7 $ 90,513 On January 1, 2021, not not Commercial Commercial real estate Commercial construction Residential real estate Consumer Unallocated Total (dollars in thousands) Balance as of January 1, 2021 $ 28,443 $ 39,330 $ 8,194 $ 2,687 $ 4 $ 568 $ 79,226 Day 1 Adjustment CECL (4,225 ) 9,605 (961 ) 2,697 9 (568 ) 6,557 Balance as of January 1, 2021 24,218 48,935 7,233 5,384 13 - 85,783 Charge-offs (382 ) (1,780 ) - (235 ) - - (2,397 ) Recoveries 289 85 - 20 11 - 405 Provision for (reversal of) credit losses 1,844 (1,651 ) (3,653 ) (1,541 ) (17 ) - (5,018 ) Balance as of December 31, 2021 $ 25,969 $ 45,589 $ 3,580 $ 3,628 $ 7 $ - $ 78,773 Loan Modifications to Borrowers Experiencing Financial Difficulty: The Company adopted Accounting Standards Update (“ASU”) 2022 02, 326 2022 02” January 1, 2023. 2022 02 The following table presents the amortized cost basis at the end of the reporting period of the loan modifications to borrowers experiencing financial difficulty and the percentage of the amortized cost basis of loans that were modified to borrowers experiencing financial difficulty as compared to the gross loans of the relevant loan segment. The total percentage represents the total modified loans as compared to the total gross loans balance as of December 31, 2023. Twelve Months Ended December 31, 2023 Term Extension Payment Deferral Interest Rate Reduction Total % of Portfolio Loan Segment (dollars in thousands) Commercial $ 34 $ 10,283 $ - $ 10,317 0.65 % Commercial real estate 209 - 7,272 7,481 0.13 Total $ 243 $ 10,283 $ 7,272 $ 17,798 0.21 % The above table consists of loans that added a weighted average of 13 years to the maturity of the modified loans with term extensions, which did not six The following table presents the performance of loans that have been modified in the last twelve December 31, 2023 Current Past Due 30-89 Days Past Due 90 Days or More (dollars in thousands) Commercial $ 10,317 $ - $ - Commercial real estate 7,481 - - There were no loans to borrowers experiencing financial difficulty that had a payment default during the twelve December 31, 2023 twelve 90 Allowance for Credit Losses for Unfunded Commitments The Company has recorded an ACL for unfunded credit commitments, which is recorded in other liabilities. The provision is recorded within the (reversal of) provision for credit losses on the Company’s income statement. The following table presents the allowance for credit losses for unfunded commitments for the year ended December 31, 2023 2022 2023 2022 Balance as of beginning of period $ 3,035 $ 2,351 (Reversal of) provision for credit losses - unfunded commitments (224 ) 684 Balance as of end of period $ 2,811 $ 3,035 Components of (Reversal of) Provision for Credit Losses The following table summarizes the provision for (reversal of) provision for credit losses for the year ended December 31, 2023 2022 2023 2022 Provision for credit losses – loans $ 8,424 $ 17,066 (Reversal of) provision for credit losses - unfunded commitments (224 ) 684 Provision for credit losses $ 8,200 $ 17,750 |