Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 01, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Entity File Number | 0-16759 | |
Entity Registrant Name | FIRST FINANCIAL CORPORATION | |
Entity Incorporation, State or Country Code | IN | |
Entity Tax Identification Number | 35-1546989 | |
Entity Address, Address Line One | One First Financial Plaza | |
Entity Address, City or Town | Terre Haute | |
Entity Address, State or Province | IN | |
Entity Address, Postal Zip Code | 47807 | |
City Area Code | (812) | |
Local Phone Number | 238-6000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 12,871,936 | |
Entity Central Index Key | 0000714562 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Trading Symbol | THFF | |
Document Transition Report | false | |
Title of 12(b) Security | Common Stock, par value $0.125 per share | |
Security Exchange Name | NASDAQ |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 758,120 | $ 657,470 |
Federal funds sold | 6,183 | 301 |
Securities, available-for-sale | 1,270,820 | 1,020,744 |
Loans: | ||
Financing Receivable, before Allowance for Credit Loss, Current | 1,457,984 | 1,521,711 |
Residential | 535,855 | 604,652 |
Consumer | 482,115 | 479,750 |
Loans, gross | 2,475,954 | 2,606,113 |
Less: Unearned Income | 3,956 | 4,181 |
Less: Allowance for loan losses | (42,962) | (47,052) |
Loans, Net | 2,436,948 | 2,563,242 |
Restricted Investments | 14,837 | 14,812 |
Accrued interest receivable | 15,963 | 16,957 |
Premises and equipment, net | 63,187 | 62,063 |
Bank-owned life insurance | 106,895 | 95,849 |
Goodwill | 78,592 | 78,592 |
Other intangible assets | 7,725 | 8,972 |
Other real estate owned | 884 | 1,012 |
Other assets | 40,939 | 37,530 |
TOTAL ASSETS | 4,801,093 | 4,557,544 |
Deposits: | ||
Non-interest-bearing | 814,902 | 732,694 |
Interest-bearing: | ||
Certificates of deposit exceeding the FDIC insurance limits | 68,920 | 107,764 |
Other interest-bearing deposits | 3,144,814 | 2,915,487 |
Total Deposits | 4,028,636 | 3,755,945 |
Federal Funds Purchased and Securities Sold under Agreements to Repurchase | 101,051 | 116,061 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances | 5,902 | 5,859 |
Other liabilities | 70,569 | 82,687 |
TOTAL LIABILITIES | 4,206,158 | 3,960,552 |
Shareholders' equity | ||
Common stock, $.125 stated value per share; Authorized shares-40,000,000 Issued shares-16,096,313 in 2021 and 16,075,154 in 2020 Outstanding shares-12,871,936 in 2021 and 13,558,511 in 2020 | 2,009 | 2,007 |
Additional paid-in capital | 141,456 | 140,820 |
Retained earnings | 559,693 | 521,103 |
Accumulated other comprehensive income (loss) | (1,102) | 9,764 |
Less: Treasury shares at cost-3,224,377 in 2021 and 2,516,643 in 2020 | (107,121) | (76,702) |
TOTAL SHAREHOLDERS' EQUITY | 594,935 | 596,992 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 4,801,093 | $ 4,557,544 |
Common stock, stated value per share | $ 0.125 | $ 0.125 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Common stock, stated value per share | $ 0.125 | $ 0.125 |
Common stock, Authorized shares | 40,000,000 | 40,000,000 |
Common stock, Issued shares | 16,096,313 | 16,075,154 |
Common stock, Outstanding shares | 13,048,229 | 13,558,511 |
Treasury, shares | 3,048,084 | 2,516,643 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
INTEREST INCOME: | ||||
Loans, including related fees | $ 31,937 | $ 34,077 | $ 95,760 | $ 102,335 |
Securities: | ||||
Taxable | 3,627 | 3,005 | 10,061 | 10,658 |
Tax-exempt | 2,234 | 1,994 | 6,471 | 5,940 |
Other | 347 | 463 | 1,080 | 1,265 |
TOTAL INTEREST INCOME | 38,145 | 39,539 | 113,372 | 120,198 |
INTEREST EXPENSE: | ||||
Interest Expense, Deposits | 1,959 | 2,689 | 6,335 | 10,238 |
Short-term borrowings | 99 | 107 | 291 | 475 |
Other borrowings | 59 | 212 | 177 | 709 |
TOTAL INTEREST EXPENSE | 2,117 | 3,008 | 6,803 | 11,422 |
NET INTEREST INCOME | 36,028 | 36,531 | 106,569 | 108,776 |
Provision for loan losses | (1,500) | 4,425 | (3,244) | 10,080 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 37,528 | 32,106 | 109,813 | 98,696 |
NON-INTEREST INCOME: | ||||
Trust and financial services | 1,156 | 1,210 | 3,774 | 4,032 |
Service charges and fees on deposit accounts | 2,697 | 2,516 | 7,267 | 7,616 |
Other service charges and fees | 4,466 | 4,269 | 13,747 | 11,468 |
Net securities gains (losses) | 5 | 5 | 111 | 230 |
Gain on sales of mortgage loans | 1,425 | 2,910 | 4,268 | 4,813 |
Other | 1,343 | 829 | 2,150 | 1,451 |
TOTAL NON-INTEREST INCOME | 11,092 | 11,739 | 31,317 | 29,610 |
NON-INTEREST EXPENSE: | ||||
Salaries and employee benefits | 15,770 | 15,474 | 47,478 | 45,769 |
Occupancy expense | 2,151 | 2,003 | 6,302 | 6,094 |
Equipment expense | 2,177 | 2,739 | 7,195 | 7,873 |
FDIC Expense | 313 | 135 | 898 | (46) |
Other | 8,048 | 6,779 | 22,221 | 21,877 |
TOTAL NON-INTEREST EXPENSE | 28,459 | 27,130 | 84,094 | 81,567 |
INCOME BEFORE INCOME TAXES | 20,161 | 16,715 | 57,036 | 46,739 |
Income tax expense | 4,063 | 2,715 | 11,447 | 8,634 |
Unrealized gain (loss) on securities, net of tax | 16,098 | 14,000 | 45,589 | 38,105 |
OTHER COMPREHENSIVE INCOME (LOSS) | ||||
Change in unrealized gains/losses on securities, net of reclassifications | (2,985) | 2,223 | (12,281) | 18,451 |
Change in funded status of post retirement benefits | 471 | 383 | 1,415 | 1,171 |
COMPREHENSIVE INCOME (LOSS) | $ 13,584 | $ 16,606 | $ 34,723 | $ 57,727 |
PER SHARE DATA | ||||
Basic and Diluted Earnings per Share (in dollars per share) | $ 1.24 | $ 1.02 | $ 3.42 | $ 2.78 |
Weighted average number of shares outstanding (in thousands) | 13,019 | 13,715 | 13,320 | 13,723 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income/(Loss) [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2019 | $ 557,608 | $ 2,005 | $ 139,694 | $ 492,055 | $ (7,501) | $ (68,645) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 38,105 | 0 | 0 | 38,105 | 0 | 0 |
Other comprehensive income (loss) | 19,622 | 0 | 0 | 0 | 19,622 | 0 |
Omnibus Equity Incentive Plan | 615 | 1 | 614 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (1,724) | 0 | 0 | 0 | ||
Dividends, Common Stock, Cash | (7,131) | 0 | 0 | (7,131) | 0 | 0 |
Balance at Sep. 30, 2020 | 607,095 | 2,006 | 140,308 | 523,029 | 12,121 | (70,369) |
Balance at Jun. 30, 2020 | 590,284 | 2,006 | 140,103 | 509,029 | 9,515 | (70,369) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 14,000 | 0 | 0 | 14,000 | 0 | 0 |
Other comprehensive income (loss) | 2,606 | 0 | 0 | 0 | 2,606 | 0 |
Omnibus Equity Incentive Plan | 205 | 0 | 205 | 0 | 0 | 0 |
Balance at Sep. 30, 2020 | 607,095 | 2,006 | 140,308 | 523,029 | 12,121 | (70,369) |
Balance at Dec. 31, 2020 | 596,992 | 2,007 | 140,820 | 521,103 | 9,764 | (76,702) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 45,589 | 0 | 0 | 45,589 | 0 | 0 |
Other comprehensive income (loss) | (10,866) | 0 | 0 | 0 | (10,866) | 0 |
Omnibus Equity Incentive Plan | 638 | 2 | 636 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (30,419) | 0 | 0 | 0 | ||
Dividends, Common Stock, Cash | (6,999) | 0 | 0 | (6,999) | 0 | 0 |
Balance at Sep. 30, 2021 | 594,935 | 2,009 | 141,456 | 559,693 | (1,102) | (107,121) |
Balance at Jun. 30, 2021 | 588,163 | 2,008 | 141,240 | 543,595 | 1,412 | (100,092) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 16,098 | 0 | 0 | 16,098 | 0 | 0 |
Other comprehensive income (loss) | (2,514) | 0 | 0 | 0 | (2,514) | 0 |
Omnibus Equity Incentive Plan | 217 | 1 | 216 | 0 | 0 | 0 |
Balance at Sep. 30, 2021 | $ 594,935 | $ 2,009 | $ 141,456 | $ 559,693 | $ (1,102) | $ (107,121) |
CONSOLIDATED STATEMENTS OF SH_2
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Treasury stock purchase (in shares) | 497,000 | 0 | 531,441 | 46,989 |
Cash Dividends (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Income | $ 45,589 | $ 38,105 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Net amortization (accretion) of premiums and discounts on investments | 6,207 | 5,149 |
Provision for loan losses | (3,244) | 10,080 |
Securities (gains) losses | (111) | (230) |
Gain on sales of mortgage loans | (4,268) | (4,813) |
(Gain) loss on sale of other real estate | 10 | 140 |
Restricted stock compensation | 638 | 615 |
Depreciation and amortization | 4,670 | 4,527 |
Other, net | (6,583) | (780) |
NET CASH FROM OPERATING ACTIVITIES | 42,908 | 52,793 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from sales of securities available-for-sale | 9,369 | 28,161 |
Calls, maturities and principal reductions on securities available-for-sale | 198,613 | 181,963 |
Purchases of securities available-for-sale | (479,007) | (221,830) |
Loans made to customers, net of repayment | 135,691 | (92,854) |
Payments to Acquire Restricted Investments | (25) | (18) |
Payment to Acquire Life Insurance Policy, Investing Activities | (10,000) | 0 |
Proceeds from sales of other real estate owned | 237 | 487 |
Increase (Decrease) in Federal Funds Sold | (5,882) | 6,841 |
Additions to premises and equipment | (4,547) | (3,681) |
NET CASH FROM INVESTING ACTIVITIES | (155,551) | (100,531) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net change in deposits | 272,903 | 329,929 |
Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | (15,010) | 15,130 |
Maturities of other borrowings | 0 | (37,010) |
Proceeds from FHLBank Borrowings, Financing Activities | 0 | 16,700 |
Purchase of treasury stock | (30,419) | (1,724) |
Dividends paid | (14,181) | (14,273) |
Net Cash Provided by (Used in) Financing Activities | 213,293 | 308,752 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 100,650 | 261,014 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 657,470 | 127,426 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 758,120 | 388,440 |
Proceeds from Sale of Restricted Investments | $ 0 | $ 400 |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies The significant accounting policies followed by the Corporation and its subsidiaries for interim financial reporting are consistent with the accounting policies followed for annual financial reporting. All adjustments which are, in the opinion of management, necessary for a fair statement of the results for the periods reported have been included in the accompanying consolidated financial statements and are of a normal recurring nature. The Corporation reports financial information for only one segment, banking. Some items in the prior year financials were reclassified to conform to the current presentation. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law. It contains substantial tax and spending provisions intended to address the impact of the COVID-19 pandemic. The goal of the CARES Act is to prevent a severe economic downturn through various measures, including direct financial aid to American families and economic stimulus to significantly impacted industry sectors. The CARES Act also includes a range of other provisions designed to support the U.S. economy and mitigate the impact of COVID-19 on financial institutions and their customers, including through the authorization of various programs and measures that the U.S. Department of the Treasury, the Small Business Administration, the Federal Reserve Board, and other federal banking agencies may or are required to implement. Further, in response to the COVID-19 outbreak, the Federal Reserve Board has implemented or announced a number of facilities to provide emergency liquidity to various segments of the U.S. economy and financial market. The CARES Act includes a provision that permits a financial institution to elect to suspend temporarily troubled debt restructuring accounting under ASC Subtopic 310-40 in certain circumstances (“section 4013”). To be eligible under section 4013, a loan modification must be (1) related to COVID-19; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (A) 60 days after the date of termination of the National Emergency or (B) December 31, 2020. The date was subsequently extended to December 31, 2021. In response to this section of the CARES Act, the federal banking agencies issued a revised interagency statement on April 7, 2020 that, in consultation with the Financial Accounting Standards Board, confirmed that for loans not subject to section 4013, short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not troubled debt restructurings under ASC Subtopic 310-40. This includes short-term (e.g., up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented. The extent to which the COVID-19 pandemic impacts the Corporation’s business, liquidity, asset valuations, results of operations, and financial condition, as well as its regulatory capital and liquidity ratios, will depend on future developments, which are highly uncertain, including the scope and duration of the pandemic and actions taken by governmental authorities and other third parties in response to the pandemic. Moreover, the effects of the COVID-19 pandemic may have a material adverse effect on all or a combination of valuation impairments on the Corporation's intangible assets, investments, loans, or deferred tax assets. The CARES Act included an option for entities to delay the implementation of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, ("CECL") until the earlier of the termination date of the National emergency declaration by the President or December 31, 2020. The Corporation adopted ASU 2016-13 on December 31, 2020 with an effective date of January 1, 2020. In the first three quarters of 2020 the provision was calculated using the incurred loss basis. Beginning in the fourth quarter 2020, the allowance for credit loss and related provision were calculated using CECL. The Omnibus Equity Incentive Plan is a long-term incentive plan that was designed to align the interests of participants with the interests of shareholders. Under the plan, awards may be made based on certain performance measures. The grants are made in restricted stock units that are subject to a vesting schedule. These shares vest over 3 years in increments of 33%, 33%, and 34% respectively. For the nine months ended 2021 and 2020, 21,159 and 19,688 shares were awarded, respectively. These |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2021 | |
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [Abstract] | |
Allowance for Loan Losses | Allowance for Credit Losses The following table presents the activity of the allowance for credit losses by portfolio segment for the three months ended September 30. Allowance for Credit Losses: September 30, 2021 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 15,693 $ 17,837 $ 10,988 $ 214 $ 44,732 Provision for credit losses (531) (1,387) 173 245 (1,500) Loans charged-off (313) (61) (1,240) — (1,614) Recoveries 182 130 1,032 — 1,344 Ending Balance $ 15,031 $ 16,519 $ 10,953 $ 459 $ 42,962 Allowance for Credit Losses: September 30, 2020 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 10,149 $ 1,876 $ 10,054 $ 1,206 $ 23,285 Provision for credit losses 1,992 17 1,695 721 4,425 Loans charged-off (160) (296) (1,542) — (1,998) Recoveries 147 185 916 — 1,248 Ending Balance $ 12,128 $ 1,782 $ 11,123 $ 1,927 $ 26,960 The following table presents the activity of the allowance for credit losses by portfolio segment for the nine months ended September 30. Allowance for Credit Losses: September 30, 2021 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 16,901 $ 19,142 $ 11,009 $ — $ 47,052 Provision for credit losses (2,067) (2,577) 941 459 (3,244) Loans charged -off (612) (492) (3,999) — (5,103) Recoveries 809 446 3,002 — 4,257 Ending Balance $ 15,031 $ 16,519 $ 10,953 $ 459 $ 42,962 Allowance for Credit Losses: September 30, 2020 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 8,945 $ 1,302 $ 8,304 $ 1,392 $ 19,943 Provision for credit losses 3,325 795 5,425 535 10,080 Loans charged -off (834) (719) (4,889) — (6,442) Recoveries 692 404 2,283 — 3,379 Ending Balance $ 12,128 $ 1,782 $ 11,123 $ 1,927 $ 26,960 The following table presents loans individually evaluated for impairment by class of loans. Three Months Ended Nine Months Ended Average Interest Cash Basis Average Interest Cash Basis (Dollar amounts in thousands) Investment Recognized Recognized Investment Recognized Recognized With no related allowance recorded: Commercial Commercial & Industrial $ 1,026 $ — $ — $ 1,048 $ — $ — Farmland 662 — — 1,161 — — Non Farm, Non Residential 3,436 — — 2,596 — — Agriculture — — — — — — All Other Commercial 25 — — 26 — — Residential First Liens 3,452 — — 3,609 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 2,136 — — 1,140 — — Farmland — — — — — — Non Farm, Non Residential 171 — — 86 — — Agriculture 190 — — 95 — — All Other Commercial 754 — — 377 — — Residential First Liens — — — — — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily 1,346 — — 673 — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 13,198 $ — $ — $ 10,811 $ — $ — The tables below present the recorded investment in non-performing loans by class of loans. September 30, 2021 Loans Past Nonaccrual (Dollar amounts in thousands) Accruing Nonaccrual For Credit Loss Commercial Commercial & Industrial $ — $ 3,451 $ 750 Farmland — 1,039 1,014 Non Farm, Non Residential — 3,100 2,990 Agriculture — 1,214 1,150 All Other Commercial — 252 — Residential First Liens 1,173 2,723 46 Home Equity 13 86 — Junior Liens 35 300 — Multifamily — 205 — All Other Residential — 114 — Consumer Motor Vehicle 191 528 — All Other Consumer — 638 — TOTAL $ 1,412 $ 13,650 $ 5,950 December 31, 2020 Loans Past Nonaccrual (Dollar amounts in thousands) Accruing Nonaccrual For Credit Loss Commercial Commercial & Industrial $ — $ 4,838 $ 1,080 Farmland — 195 — Non Farm, Non Residential — 3,729 3,267 Agriculture — 409 — All Other Commercial — 533 24 Residential First Liens 1,746 2,604 86 Home Equity 88 30 — Junior Liens 252 206 — Multifamily — 1,380 — All Other Residential — 135 — Consumer Motor Vehicle 372 754 — All Other Consumer — 554 — TOTAL $ 2,458 $ 15,367 $ 4,457 The following tables present the amortized cost basis of collateral dependent loans by class of loans: September 30, 2021 Collateral Type (Dollar amounts in thousands) Real Estate Other Commercial Commercial & Industrial $ 2,993 $ 1,053 Farmland 3,699 Non Farm, Non Residential 6,367 Agriculture — 1,150 All Other Commercial 248 — Residential First Liens 46 — Home Equity — — Junior Liens — — Multifamily 205 — All Other Residential — — Consumer Motor Vehicle — — All Other Consumer — — Total $ 13,558 $ 2,203 December 31, 2020 Collateral Type (Dollar amounts in thousands) Real Estate Other Commercial Commercial & Industrial $ 3,293 $ 2,221 Farmland 2,771 Non Farm, Non Residential 6,838 Agriculture — 599 All Other Commercial 528 24 Residential First Liens 86 — Home Equity — — Junior Liens — — Multifamily 1,380 — All Other Residential — — Consumer Motor Vehicle — — All Other Consumer — — Total $ 14,896 $ 2,844 The following tables presents the aging of the recorded investment in loans by past due category and class of loans. September 30, 2021 30-59 Days 60-89 Days 90 Days and Greater Total (Dollar amounts in thousands) Past Due Past Due Past Due Past Due Current Total Commercial Commercial & Industrial $ 2,283 $ 59 $ 2,741 $ 5,083 $ 569,962 $ 575,045 Farmland — — — — 114,045 114,045 Non Farm, Non Residential 63 68 7 138 342,073 342,211 Agriculture 96 — 1,188 1,284 122,284 123,568 All Other Commercial 77 — — 77 310,325 310,402 Residential First Liens 858 873 1,840 3,571 302,634 306,205 Home Equity 304 210 86 600 57,099 57,699 Junior Liens 81 71 188 340 50,794 51,134 Multifamily — — — — 106,564 106,564 All Other Residential — 45 — 45 15,556 15,601 Consumer Motor Vehicle 5,147 836 229 6,212 444,294 450,506 All Other Consumer 127 50 — 177 33,380 33,557 TOTAL $ 9,036 $ 2,212 $ 6,279 $ 17,527 $ 2,469,010 $ 2,486,537 December 31, 2020 30-59 Days 60-89 Days 90 Days and Greater Total (Dollar amounts in thousands) Past Due Past Due Past Due Past Due Current Total Commercial Commercial & Industrial $ 685 $ 746 $ 3,364 $ 4,795 $ 603,777 $ 608,572 Farmland 22 — 91 113 118,528 118,641 Non Farm, Non Residential 155 — 271 426 350,681 351,107 Agriculture 28 30 275 333 146,147 146,480 All Other Commercial — — 24 24 305,612 305,636 Residential First Liens 5,506 1,866 2,365 9,737 314,730 324,467 Home Equity 260 29 104 393 60,362 60,755 Junior Liens 421 68 341 830 53,346 54,176 Multifamily — — — — 151,042 151,042 All Other Residential — 50 — 50 15,918 15,968 Consumer Motor Vehicle 6,975 1,294 560 8,829 441,283 450,112 All Other Consumer 164 19 13 196 31,401 31,597 TOTAL $ 14,216 $ 4,102 $ 7,408 $ 25,726 $ 2,592,827 $ 2,618,553 During the three and nine months ended September 30, 2021 and 2020, the terms of certain loans were modified as troubled debt restructurings (TDRs). The following tables present the activity for TDRs. 2021 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, $ — $ 3,904 $ 556 $ 4,460 Added — — 172 172 Charged Off — — — — Payments — (91) (52) (143) September 30, $ — $ 3,813 $ 676 $ 4,489 2021 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, $ — $ 3,589 $ 617 $ 4,206 Added — 491 294 785 Charged Off — (27) (75) (102) Payments — (240) (160) (400) September 30, $ — $ 3,813 $ 676 $ 4,489 2020 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, — 3,231 668 3,899 Added — 313 81 394 Charged Off — — (30) (30) Payments — (112) (54) (166) September 30, — 3,432 665 4,097 2020 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, 11 3,485 698 4,194 Added — 436 216 652 Charged Off — (6) (80) (86) Payments (11) (483) (169) (663) September 30, — 3,432 665 4,097 Modification of the terms of such loans typically include one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. No modification in 2021 or 2020 resulted in the permanent reduction of the recorded investment in the loan. Modifications involving a reduction of the stated interest rate of the loan were for periods ranging from twelve months to five years. Modifications involving an extension of the maturity date were for periods ranging from twelve months to ten years. Troubled debt restructurings during the three months ended September 30, 2021 and 2020 did not result in any material charge-offs or additional provision expense. The Corporation has no allocations of specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of September 30, 2021 and 2020. The Corporation has not committed to lend additional amounts as of September 30, 2021 and 2020 to customers with outstanding loans that are classified as troubled debt restructurings. None of the charge-offs during the three and nine months ended September 30, 2021 and 2020 were of restructurings that had occurred in the previous 12 months. The CARES Act includes a provision that permits a financial institution to elect to suspend temporarily troubled debt restructuring accounting under ASC Subtopic 310-40 in certain circumstances (“section 4013”). To be eligible under section 4013, a loan modification must be (1) related to COVID-19; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (A) 60 days after the date of termination of the National Emergency or (B) December 31, 2020. In response to this section of the CARES Act, the federal banking agencies issued a revised interagency statement on April 7, 2020 that, in consultation with the Financial Accounting Standards Board, confirmed that for loans not subject to section 4013, short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not troubled debt restructurings under ASC Subtopic 310-40. This includes short-term (e.g., up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented. From the inception of the CARES Act through September 30, 2021, 1,332 loans totaling $268 million were modified, related to COVID-19, that were not considered troubled debt restructurings. 1,053 loans totaling $224 million have resumed normal scheduled payments. 217 remaining loans are still under a debt relief plan, which include 12 commercial loans totaling $36 million that have been provided additional payment relief since the initial payment relief plan. 5 loans totaling $232 thousand are under the original payment relief plan. Credit Quality Indicators: The Corporation categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes loans individually by classifying the loans as to credit risk. This analysis includes non-homogeneous loans, such as commercial loans, with an outstanding balance greater than $100 thousand. Any consumer loans outstanding to a borrower who had commercial loans analyzed will be similarly risk rated. This analysis is performed on a quarterly basis. The Corporation uses the following definitions for risk ratings: 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 net worth and debt service capacity of the borrower or of any pledged collateral. These loans have a well-defined weakness or weaknesses which have clearly jeopardized repayment of principal and interest as originally intended. They are characterized by the distinct possibility that the institution will sustain some future loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those graded substandard, with the added characteristic that the severity of the weaknesses makes collection or liquidation in full highly questionable or improbable based upon currently existing facts, conditions, and values. Furthermore, non-homogeneous loans which were not individually analyzed, but are 90+ days past due or on non-accrual are classified as substandard. Loans included in homogeneous pools, such as residential or consumer may be classified as substandard due to 90+ days delinquency, non-accrual status, bankruptcy, or loan restructuring. The following tables present the commercial loan portfolio by risk category: September 30, 2021 Term Loans at Amortized Cost Basis by Origination Year Revolving 2021 2020 2019 2018 2017 Prior Loans Total Commercial Commercial and Industrial Pass $122,680 $50,449 $77,006 $39,487 $30,908 $108,292 $88,924 $517,746 Special Mention 1,818 244 1,190 6,835 315 4,421 7,780 $22,603 Substandard 2,780 14 359 3,519 418 3,769 268 $11,127 Doubtful — — — — — — — $0 Not Rated 17,933 1,841 1,065 630 266 162 — $21,897 Subtotal $145,211 $52,548 $79,620 $50,471 $31,907 $116,644 $96,972 $573,373 Farmland Pass $11,133 $9,892 $11,010 $11,103 $8,471 $46,333 $1,315 $99,257 Special Mention — — 914 — 221 3,257 — $4,392 Substandard 3,455 1,635 — — 680 2,595 — $8,365 Doubtful — — — — — — — $0 Not Rated — — — — — 27 — $27 Subtotal $14,588 $11,527 $11,924 $11,103 $9,372 $52,212 $1,315 $112,041 Non Farm, Non Residential Pass $42,941 $37,200 $28,621 $34,126 $59,981 $104,483 $8,969 $316,321 Special Mention — — 1,112 183 1,973 3,344 — $6,612 Substandard — — 927 — 1,456 15,694 — $18,077 Doubtful — — — — — — — $0 Not Rated — — — — — 508 — $508 Subtotal $42,941 $37,200 $30,660 $34,309 $63,410 $124,029 $8,969 $341,518 Agriculture Pass $5,246 $10,723 $10,609 $2,831 $4,667 $17,305 $55,670 $107,051 Special Mention — — 1,403 — 570 2,699 4,587 $9,259 Substandard — — 286 1 13 1,699 3,091 $5,090 Doubtful — — — — — — — $0 Not Rated 5 131 159 57 5 — — $357 Subtotal $5,251 $10,854 $12,457 $2,889 $5,255 $21,703 $63,348 $121,757 Other Commercial Pass $32,312 $65,747 $42,256 $36,953 $55,929 $69,970 $5,736 $308,903 Special Mention — — — — — — — $0 Substandard — — — — — 259 — $259 Doubtful — — — — — — — $0 Not Rated 90 — — 43 — — — $133 Subtotal $32,402 $65,747 $42,256 $36,996 $55,929 $70,229 $5,736 $309,295 Residential Multifamily >5 Residential Pass $8,658 $48,145 $8,903 $6,982 $2,757 $18,865 $1,467 $95,777 Special Mention — — — — — 10,386 — $10,386 Substandard — — — 205 — — — $205 Doubtful — — — — — — — $0 Not Rated — — — — — — — $0 Subtotal $8,658 $48,145 $8,903 $7,187 $2,757 $29,251 $1,467 $106,368 Total Pass $222,970 $222,156 $178,405 $131,482 $162,713 $365,248 $162,081 $1,445,055 Special Mention 1,818 244 4,619 7,018 3,079 24,107 12,367 $53,252 Substandard 6,235 1,649 1,572 3,725 2,567 24,016 3,359 $43,123 Doubtful — — — — — — — $0 Not Rated 18,028 1,972 1,224 730 271 697 — $22,922 Total commercial loans $249,051 $226,021 $185,820 $142,955 $168,630 $414,068 $177,807 $1,564,352 December 31, 2020 Term Loans at Amortized Cost Basis by Origination Year Revolving 2020 2019 2018 2017 2016 Prior Loans Total Commercial Commercial and Industrial Pass $159,494 $77,253 $64,298 $41,806 $20,564 $103,598 $91,615 $558,628 Special Mention 4,848 1,331 4,427 216 1,278 4,566 3,695 $20,361 Substandard 3,780 323 4,187 1,148 3,543 2,565 3,124 $18,670 Doubtful — — — — — — — $0 Not Rated 2,618 1,772 1,446 580 105 2,255 — $8,776 Subtotal $170,740 $80,679 $74,358 $43,750 $25,490 $112,984 $98,434 $606,435 Farmland Pass $10,010 $12,775 $12,149 $10,089 $15,863 $40,338 $1,386 $102,610 Special Mention 988 947 — 230 1,900 2,656 — $6,721 Substandard 1,718 2,303 — 716 1,628 826 — $7,191 Doubtful — — — — — — — $0 Not Rated — — — — — — — $0 Subtotal $12,716 $16,025 $12,149 $11,035 $19,391 $43,820 $1,386 $116,522 Non Farm, Non Residential Pass $39,914 $33,261 $38,111 $63,371 $49,511 $83,052 $4,092 $311,312 Special Mention — 998 — 305 9,982 6,811 — $18,096 Substandard — 1,188 — 4,310 7,484 7,028 — $20,010 Doubtful — — — — — — — $0 Not Rated — — — — — 682 — $682 Subtotal $39,914 $35,447 $38,111 $67,986 $66,977 $97,573 $4,092 $350,100 Agriculture Pass $13,336 $8,330 $3,485 $5,329 $3,732 $16,792 $67,052 $118,056 Special Mention — 1,483 1,203 664 5 428 7,611 $11,394 Substandard — 3,834 18 223 2,435 1,988 5,926 $14,424 Doubtful — — — — — — — $0 Not Rated 159 216 110 6 13 — — $504 Subtotal $13,495 $13,863 $4,816 $6,222 $6,185 $19,208 $80,589 $144,378 Other Commercial Pass $44,673 $57,200 $41,470 $61,442 $40,196 $50,325 $5,162 $300,468 Special Mention — — — 7 — 2,786 — $2,793 Substandard — — — 24 528 24 — $576 Doubtful — — — — — — — $0 Not Rated — 3 52 39 345 — — $439 Subtotal $44,673 $57,203 $41,522 $61,512 $41,069 $53,135 $5,162 $304,276 Residential Multifamily >5 Residential Pass $44,599 $9,892 $36,563 $19,749 $4,676 $21,704 $1,293 $138,476 Special Mention — — — — 102 10,662 — $10,764 Substandard — — 1,380 — — — — $1,380 Doubtful — — — — — — — $0 Not Rated — — — — — — — $0 Subtotal $44,599 $9,892 $37,943 $19,749 $4,778 $32,366 $1,293 $150,620 Total Pass $312,026 $198,711 $196,076 $201,786 $134,542 $315,809 $170,600 $1,529,550 Special Mention 5,836 4,759 5,630 1,422 13,267 27,909 11,306 $70,129 Substandard 5,498 7,648 5,585 6,421 15,618 12,431 9,050 $62,251 Doubtful — — — — — — — $0 Not Rated 2,777 1,991 1,608 625 463 2,937 — $10,401 Total commercial loans $326,137 $213,109 $208,899 $210,254 $163,890 $359,086 $190,956 $1,672,331 The Corporation evaluates the credit quality of its other loan portfolios, which includes residential real estate, consumer and lease financing loans, based primarily on the aging status of the loan and payment activity. Accordingly, loans on non-accrual status, loans past due 90 days or more and still accruing interest, and loans modified under troubled debt restructurings are considered to be nonperforming for purposes of credit quality evaluation. The following table presents the balance of our other loan portfolio based on the credit risk profile of loans that are performing and loans that are nonperforming: September 30, 2021 Term Loans at Amortized Cost Basis by Origination Year Revolving 2021 2020 2019 2018 2017 Prior Loans Total Residential First Liens Performing $50,313 $41,216 $22,039 $24,469 $26,484 $134,510 $2,417 $301,448 Non-performing — 150 528 70 319 2,801 — $3,868 Subtotal $50,313 $41,366 $22,567 $24,539 $26,803 $137,311 $2,417 $305,316 Home Equity Performing $1,643 $9 $191 $131 $64 $1,367 $54,088 $57,493 Non-performing — — — — 3 96 — $99 Subtotal $1,643 $9 $191 $131 $67 $1,463 $54,088 $57,592 Junior Liens Performing $10,379 $10,642 $8,962 $8,640 $4,650 $6,306 $1,102 $50,681 Non-performing — 7 39 74 122 99 — $341 Subtotal $10,379 $10,649 $9,001 $8,714 $4,772 $6,405 $1,102 $51,022 Other Residential Performing $7,849 $4,493 $1,405 $325 $281 $1,072 $0 $15,425 Non-performing — — 57 45 — 30 — $132 Subtotal $7,849 $4,493 $1,462 $370 $281 $1,102 $0 $15,557 Consumer Motor Vehicle Performing $155,728 $176,592 $71,421 $28,477 $12,091 $3,674 $— $447,983 Non-performing 29 203 266 144 50 11 — $703 Subtotal $155,757 $176,795 $71,687 $28,621 $12,141 $3,685 $— $448,686 Other Consumer Performing $13,309 $9,441 $3,651 $1,065 $327 $982 $4,013 $32,788 Non-performing 251 199 125 41 19 4 2 $641 Subtotal $13,560 $9,640 $3,776 $1,106 $346 $986 $4,015 $33,429 Total Performing $239,221 $242,393 $107,669 $63,107 $43,897 $147,911 $61,620 $905,818 Non-performing 280 559 1,015 374 513 3,041 2 $5,784 Total other loans $239,501 $242,952 $108,684 $63,481 $44,410 $150,952 $61,622 $911,602 December 31, 2020 Term Loans at Amortized Cost Basis by Origination Year Revolving 2020 2019 2018 2017 2016 Prior Loans Total Residential First Liens Performing $47,875 $33,737 $31,634 $36,426 $30,419 $135,456 $3,235 $318,782 Non-performing — 40 95 343 107 4,062 — $4,647 Subtotal $47,875 $33,777 $31,729 $36,769 $30,526 $139,518 $3,235 $323,429 Home Equity Performing $854 $135 $644 $20 $— $1,525 $57,334 $60,512 Non-performing — — 1 — — 91 24 $116 Subtotal $854 $135 $645 $20 $— $1,616 $57,358 $60,628 Junior Liens Performing $13,125 $12,742 $11,139 $6,214 $3,948 $5,099 $1,333 $53,600 Non-performing — 129 48 198 9 66 — $450 Subtotal $13,125 $12,871 $11,187 $6,412 $3,957 $5,165 $1,333 $54,050 Other Residential Performing $9,773 $2,775 $1,372 $292 $178 $733 $651 $15,774 Non-performing — 62 50 — — 39 — $151 Subtotal $9,773 $2,837 $1,422 $292 $178 $772 $651 $15,925 Consumer Motor Vehicle Performing $245,839 $113,293 $51,649 $24,786 $10,026 $1,600 $— $447,193 Non-performing 318 355 257 127 36 11 — $1,104 Subtotal $246,157 $113,648 $51,906 $24,913 $10,062 $1,611 $— $448,297 Other Consumer Performing $15,298 $7,328 $2,622 $724 $854 $703 $3,352 $30,881 Non-performing 231 200 92 22 — 8 19 $572 Subtotal $15,529 $7,528 $2,714 $746 $854 $711 $3,371 $31,453 Total Performing $332,764 $170,010 $99,060 $68,462 $45,425 $145,116 $65,905 $926,742 Non-performing 549 786 543 690 152 4,277 43 $7,040 Total other loans $333,313 $170,796 $99,603 $69,152 $45,577 $149,393 $65,948 $933,782 |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Fair Value FASB ASC No. 820-10 establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) of identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level I prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The fair value of most securities available for sale is determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). For those securities that cannot be priced using quoted market prices or observable inputs a Level 3 valuation is determined. These securities are primarily trust preferred securities, which are priced using Level 3 due to current market illiquidity and certain investments in state and municipal securities. The fair value of the trust preferred securities is obtained from a third party provider without adjustment. As described previously, management obtains values from other pricing sources to validate the Standard & Poors pricing that they currently utilize. The fair value of state and municipal obligations are derived by comparing the securities to current market rates plus an appropriate credit spread to determine an estimated value. Illiquidity spreads are then considered. Credit reviews are performed on each of the issuers. The significant unobservable inputs used in the fair value measurement of the Corporation’s state and municipal obligations are credit spreads related to specific issuers. Significantly higher credit spread assumptions would result in significantly lower fair value measurement. Conversely, significantly lower credit spreads would result in a significantly higher fair value measurements. The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2 inputs). September 30, 2021 Fair Value Measurements Using Significant (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 119,091 $ — $ 119,091 Mortgage Backed Securities-residential — 574,939 — 574,939 Mortgage Backed Securities-commercial — 15,927 — 15,927 Collateralized mortgage obligations — 162,268 — 162,268 State and municipal — 361,262 1,895 363,157 Municipal taxable — 31,538 — 31,538 U.S. Treasury — 656 — 656 Collateralized debt obligations — — 3,244 3,244 TOTAL $ — $ 1,265,681 $ 5,139 $ 1,270,820 Derivative Assets 1,371 Derivative Liabilities (1,371) December 31, 2020 Fair Value Measurements Using Significant (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 97,814 $ — $ 97,814 Mortgage Backed Securities-residential — 355,121 — 355,121 Mortgage Backed Securities-commercial — 18,490 — 18,490 Collateralized mortgage obligations — 214,160 — 214,160 State and municipal — 304,236 1,895 306,131 Municipal taxable — 23,139 — 23,139 U.S. Treasury — 2,753 — 2,753 Collateralized debt obligations — — 3,136 3,136 TOTAL $ — $ 1,015,713 $ 5,031 $ 1,020,744 Derivative Assets 2,465 Derivative Liabilities (2,465) There were no transfers between Level 1 and Level 2 during 2021 and 2020. The tables below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2021 and the year ended December 31, 2020. Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended September 30, 2021 (Dollar amounts in thousands) State and Collateralized Total Beginning balance, July 1 $ 1,895 $ 3,265 $ 5,160 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — (21) (21) Transfers — — — Settlements — — — Ending balance, September 30 $ 1,895 $ 3,244 $ 5,139 Nine Months Ended September 30, 2021 (Dollar amounts in thousands) State and Collateralized Total Beginning balance, January 1 $ 1,895 $ 3,136 $ 5,031 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 108 108 Transfers — — — Settlements — — — Ending balance, September 30 $ 1,895 $ 3,244 $ 5,139 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Year Ended December 31, 2020 (Dollar amounts in thousands) State and Collateralized Total Beginning balance, January 1 $ 2,565 $ 3,619 $ 6,184 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — (483) (483) Purchases — — — Settlements (670) — (670) Ending balance, December 31 $ 1,895 $ 3,136 $ 5,031 The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at September 30, 2021. (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 1,895 Discounted cash flow Discount rate 3.41%-4.44% Collateral dependent loans $ 2,231 Discounted collateral Discount rate for age of appraisal and market conditions 0.00%-50.00% The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2020. (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 1,895 Discounted cash flow Discount rate 3.41%-4.44% Collateral dependent loans 6,581 Discounted collateral Discount rate for age of appraisal and market conditions 0.00%-50.00% Fair value is measured based on the value of the collateral securing those loans, and is determined using several methods. Generally the fair value of real estate is determined based on appraisals by qualified licensed appraisers. Appraisals for real estate generally use three methods to derive value: cost, sales or market comparison and income approach. The cost method bases value on the cost to replace current property. The market comparison evaluates the sales price of similar properties in the same market area. The income approach considers net operating income generated by the property and the investor’s required return. The final fair value is based on a reconciliation of these three approaches. If an appraisal is not available, the fair value may be determined by using a cash flow analysis, a broker’s opinion of value, the net present value of future cash flows, or an observable market price from an active market. Fair value of other real estate is based upon the current appraised values of the properties as determined by qualified licensed appraisers and the Company’s judgment of other relevant market conditions. Appraisals are obtained annually and reductions in value are recorded as a valuation through a charge to expense. The primary unobservable input used by management in estimating fair value are additional discounts to the appraised value to consider market conditions and the age of the appraisal, which are based on management’s past experience in resolving these types of properties. These discounts range from 0% to 50%. Values for non-real estate collateral, such as business equipment, are based on appraisals performed by qualified licensed appraisers or the customers financial statements. Values for non real estate collateral use much higher discounts than real estate collateral. Other real estate and individually evaluated loans carried at fair value are primarily comprised of smaller balance properties. The following tables presents collateral dependent loans measured at fair value on a non-recurring basis, as of September 30, 2021 and December 31, 2020, which are all considered Level 3. September 30, 2021 (Dollar amounts in thousands) Carrying Allowance Fair Value Commercial Commercial & Industrial $ 3,297 $ 1,162 $ 2,135 Farmland — — — Non Farm, Non Residential 3,079 3,058 21 Agriculture — — — All Other Commercial 248 207 41 Residential First Liens — — — Home Equity — — — Junior Liens — — — Multifamily 205 171 34 All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 6,829 $ 4,598 $ 2,231 December 31, 2020 (Dollar amounts in thousands) Carrying Allowance Fair Value Commercial Commercial & Industrial $ 4,435 $ 1,363 $ 3,072 Farmland 1,231 35 1,196 Non Farm, Non Residential 3,193 3,038 155 Agriculture 600 162 438 All Other Commercial 528 52 476 Residential First Liens — — — Home Equity — — — Junior Liens — — — Multifamily 1,380 136 1,244 All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 11,367 $ 4,786 $ 6,581 The carrying amounts and estimated fair value of financial instruments at September 30, 2021 and December 31, 2020, are shown below. Carrying amount is the estimated fair value for cash and due from banks, federal funds sold, short-term borrowings, accrued interest receivable and payable, demand deposits, short-term debt and variable-rate loans or deposits that reprice frequently and fully. Security fair values were described previously. For fixed-rate, collectively evaluated loans or deposits, variable rate loans or deposits with infrequent repricing or repricing limits, and for longer-term borrowings, fair value is based on discounted cash flows using current market rates applied to the estimated life and considering credit risk. The valuation of individually evaluated loans was described previously. Loan fair value estimates represent an exit price. Fair values of loans held for sale are based on market bids on the loans or similar loans. It was not practicable to determine the fair value of Federal Home Loan Bank stock due to restrictions placed on its transferability. Fair value of debt is based on current rates for similar financing. The fair value of off-balance sheet items is not considered material. September 30, 2021 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 758,120 $ 25,996 $ 732,124 $ — $ 758,120 Federal funds sold 6,183 — 6,183 — 6,183 Securities available-for-sale 1,270,820 — 1,265,681 5,139 1,270,820 Restricted stock 14,837 n/a n/a n/a n/a Loans, net 2,436,948 — — 2,381,649 2,381,649 Accrued interest receivable 15,963 — 5,638 10,325 15,963 Deposits (4,028,636) — (4,036,693) — (4,036,693) Short-term borrowings (101,051) — (101,051) — (101,051) Other borrowings (5,902) — (6,207) — (6,207) Accrued interest payable (664) — (664) — (664) December 31, 2020 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 657,470 $ 25,645 $ 631,825 $ — $ 657,470 Federal funds sold 301 — 301 — 301 Securities available-for-sale 1,020,744 — 1,015,713 5,031 1,020,744 Restricted stock 14,812 n/a n/a n/a n/a Loans, net 2,563,242 — — 2,560,683 2,560,683 Accrued interest receivable 16,957 — 3,521 13,436 16,957 Deposits (3,755,945) — (3,763,358) — (3,763,358) Short-term borrowings (116,061) — (116,061) — (116,061) Other borrowings (5,859) — (6,297) — (6,297) Accrued interest payable (1,033) — (1,033) — (1,033) |
Short-Term Borrowings
Short-Term Borrowings | 9 Months Ended |
Sep. 30, 2021 | |
Short-term Debt [Abstract] | |
Short-Term Borrowings | Short-Term Borrowings Period–end short-term borrowings were comprised of the following: (Dollar amounts in thousands) September 30, 2021 December 31, 2020 Federal Funds Purchased $ 1,575 $ 6,500 Repurchase Agreements 99,476 109,561 $ 101,051 $ 116,061 The Corporation enters into sales of securities under agreements to repurchase. The amounts received under these agreements represent short-term borrowings and are reflected as a liability in the consolidated balance sheets. The securities underlying these agreements are included in investment securities in the consolidated balance sheets. The Corporation has no control over the market value of the securities, which fluctuates due to market conditions. However, the Corporation is obligated to promptly transfer additional securities if the market value of the securities falls below the repurchase agreement price. The Corporation manages this risk by maintaining an unpledged securities portfolio that it believes is sufficient to cover a decline in the market value of the securities sold under agreements to repurchase. Collateral pledged to repurchase agreements by remaining maturity are as follows: September 30, 2021 Repurchase Agreements Remaining Contractual Maturity of the Agreements (Dollar amounts in thousands) Overnight and continuous Up to 30 days 30 - 90 days Greater than 90 days Total Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations $ 92,952 $ — $ — $ 6,524 $ 99,476 December 31, 2020 Repurchase Agreements Remaining Contractual Maturity of the Agreements (Dollar amounts in thousands) Overnight and continuous Up to 30 days 30 - 90 days Greater than 90 days Total Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations $ 86,335 $ 1,086 $ 21,342 $ 798 $ 109,561 |
Components of Net Periodic Bene
Components of Net Periodic Benefit Cost | 9 Months Ended |
Sep. 30, 2021 | |
Retirement Benefits [Abstract] | |
Components of Net Periodic Benefit Cost | Components of Net Periodic Benefit Cost Three Months Ended September 30, Nine Months Ended September 30, (Dollar amounts in thousands) Pension Benefits Post-Retirement Pension Benefits Post-Retirement 2021 2020 2021 2020 2021 2020 2021 2020 Service cost $ 339 $ 325 $ 10 $ 10 $ 1,016 $ 975 $ 32 $ 29 Interest cost 658 779 26 32 1,974 2,337 77 94 Expected return on plan assets (1,178) (1,050) — — (3,535) (3,149) — — Net amortization of prior service cost — 1 — — — 1 — — Net amortization of net (gain) loss 518 492 — — 1,554 1,476 — — Net Periodic Benefit Cost $ 337 $ 547 $ 36 $ 42 $ 1,009 $ 1,640 $ 109 $ 123 Employer Contributions First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2020 that it expected to contribute $2.3 million and $715 thousand respectively to its Pension Plan and ESOP and $240 thousand to the Post Retirement Health Benefits Plan in 2021. Contributions of $1.5 million have been made to the Pension Plan thus far in 2021. Contributions of $167 thousand have been made through the first nine months of 2021 for the Post Retirement Health Benefits plan. No contributions have been made in 2021 for the ESOP. The Pension plan was frozen for most employees at the end of 2012 and for those employees there will be discretionary contributions to the ESOP plan and a 401K plan in place of the former Pension benefit. In the first nine months of 2021 and 2020 there has been $2.3 million and $1.4 million of expense accrued for potential contributions to these alternative retirement benefit options. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income The following tables summarize the changes, net of tax, within each classification of accumulated other comprehensive income/(loss) for the three and nine months ended September 30, 2021 and 2020. Unrealized gains and 2021 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 24,866 $ (23,454) $ 1,412 Change in other comprehensive income (loss) before reclassification (2,981) — (2,981) Amounts reclassified from accumulated other comprehensive income (4) 471 467 Net current period other comprehensive income (loss) (2,985) 471 (2,514) Ending balance, September 30, $ 21,881 $ (22,983) $ (1,102) Unrealized gains and 2021 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ 34,162 $ (24,398) $ 9,764 Change in other comprehensive income (loss) before reclassification (12,198) — (12,198) Amounts reclassified from accumulated other comprehensive income (83) 1,415 1,332 Net current period other comprehensive income (loss) (12,281) 1,415 (10,866) Ending balance, September 30, $ 21,881 $ (22,983) $ (1,102) Unrealized gains and 2020 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 31,121 $ (21,606) $ 9,515 Change in other comprehensive income (loss) before reclassification 2,227 — 2,227 Amounts reclassified from accumulated other comprehensive income (4) 383 379 Net current period other comprehensive income (loss) 2,223 383 2,606 Ending balance, September 30, $ 33,344 $ (21,223) $ 12,121 Unrealized gains and 2020 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ 14,893 $ (22,394) $ (7,501) Change in other comprehensive income (loss) before reclassification 18,624 — 18,624 Amounts reclassified from accumulated other comprehensive income (173) 1,171 998 Net current period other comprehensive income (loss) 18,451 1,171 19,622 Ending balance, September 30, $ 33,344 $ (21,223) $ 12,121 Balance Current Balance (Dollar amounts in thousands) 7/1/2021 Change 9/30/2021 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 22,417 $ (2,969) $ 19,448 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,449 (16) 2,433 Total unrealized loss on securities available-for-sale $ 24,866 $ (2,985) $ 21,881 Unrealized gain (loss) on retirement plans (23,454) 471 (22,983) TOTAL $ 1,412 $ (2,514) $ (1,102) Balance Current Balance (Dollar amounts in thousands) 1/1/2021 Change 9/30/2021 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 31,810 $ (12,362) $ 19,448 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,352 81 2,433 Total unrealized gain (loss) on securities available-for-sale $ 34,162 $ (12,281) $ 21,881 Unrealized loss on retirement plans (24,398) 1,415 (22,983) TOTAL $ 9,764 $ (10,866) $ (1,102) Balance Current Balance (Dollar amounts in thousands) 7/1/2020 Change 9/30/2020 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 28,913 $ 2,154 $ 31,067 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,208 69 2,277 Total unrealized gain (loss) on securities available-for-sale $ 31,121 $ 2,223 $ 33,344 Unrealized loss on retirement plans (21,606) 383 (21,223) TOTAL $ 9,515 $ 2,606 $ 12,121 Balance Current Balance (Dollar amounts in thousands) 1/1/2020 Change 9/30/2020 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 12,178 $ 18,889 $ 31,067 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,715 (438) 2,277 Total unrealized income (loss) on securities available-for-sale $ 14,893 $ 18,451 $ 33,344 Unrealized gain (loss) on retirement plans (22,394) 1,171 (21,223) TOTAL $ (7,501) $ 19,622 $ 12,121 Three Months Ended September 30, 2021 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 5 Net securities gains (losses) on available-for-sale (1) Income tax expense securities $ 4 Net of tax Amortization of $ (518) (a) Salary and benefits retirement plan items 47 Income tax expense $ (471) Net of tax Total reclassifications for the period $ (467) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). Nine Months Ended September 30, 2021 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 111 Net securities gains (losses) on available-for-sale (28) Income tax expense securities $ 83 Net of tax Amortization of $ (1,554) (a) Salary and benefits retirement plan items 139 Income tax expense $ (1,415) Net of tax Total reclassifications for the period $ (1,332) Net of tax Three Months Ended September 30, 2020 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 5 Net securities gains (losses) on available-for-sale (1) Income tax expense securities $ 4 Net of tax Amortization of $ (492) (a) Salary and benefits retirement plan items 109 Income tax expense $ (383) Net of tax Total reclassifications for the period $ (379) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). Nine Months Ended September 30, 2020 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 230 Net securities gains (losses) on available-for-sale (57) Income tax expense securities $ 173 Net of tax Amortization of $ (1,476) (a) Salary and benefits retirement plan items 305 Income tax expense $ (1,171) Net of tax Total reclassifications for the period $ (998) Net of tax |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [Abstract] | |
Schedule of allowances for loan losses by portfolio segment | The following table presents the activity of the allowance for credit losses by portfolio segment for the three months ended September 30. Allowance for Credit Losses: September 30, 2021 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 15,693 $ 17,837 $ 10,988 $ 214 $ 44,732 Provision for credit losses (531) (1,387) 173 245 (1,500) Loans charged-off (313) (61) (1,240) — (1,614) Recoveries 182 130 1,032 — 1,344 Ending Balance $ 15,031 $ 16,519 $ 10,953 $ 459 $ 42,962 Allowance for Credit Losses: September 30, 2020 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 10,149 $ 1,876 $ 10,054 $ 1,206 $ 23,285 Provision for credit losses 1,992 17 1,695 721 4,425 Loans charged-off (160) (296) (1,542) — (1,998) Recoveries 147 185 916 — 1,248 Ending Balance $ 12,128 $ 1,782 $ 11,123 $ 1,927 $ 26,960 The following table presents the activity of the allowance for credit losses by portfolio segment for the nine months ended September 30. Allowance for Credit Losses: September 30, 2021 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 16,901 $ 19,142 $ 11,009 $ — $ 47,052 Provision for credit losses (2,067) (2,577) 941 459 (3,244) Loans charged -off (612) (492) (3,999) — (5,103) Recoveries 809 446 3,002 — 4,257 Ending Balance $ 15,031 $ 16,519 $ 10,953 $ 459 $ 42,962 Allowance for Credit Losses: September 30, 2020 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 8,945 $ 1,302 $ 8,304 $ 1,392 $ 19,943 Provision for credit losses 3,325 795 5,425 535 10,080 Loans charged -off (834) (719) (4,889) — (6,442) Recoveries 692 404 2,283 — 3,379 Ending Balance $ 12,128 $ 1,782 $ 11,123 $ 1,927 $ 26,960 |
Schedule of loans individually evaluated for impairment by class of loans | The following table presents loans individually evaluated for impairment by class of loans. Three Months Ended Nine Months Ended Average Interest Cash Basis Average Interest Cash Basis (Dollar amounts in thousands) Investment Recognized Recognized Investment Recognized Recognized With no related allowance recorded: Commercial Commercial & Industrial $ 1,026 $ — $ — $ 1,048 $ — $ — Farmland 662 — — 1,161 — — Non Farm, Non Residential 3,436 — — 2,596 — — Agriculture — — — — — — All Other Commercial 25 — — 26 — — Residential First Liens 3,452 — — 3,609 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 2,136 — — 1,140 — — Farmland — — — — — — Non Farm, Non Residential 171 — — 86 — — Agriculture 190 — — 95 — — All Other Commercial 754 — — 377 — — Residential First Liens — — — — — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily 1,346 — — 673 — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 13,198 $ — $ — $ 10,811 $ — $ — |
Schedule of non-performing loans | The tables below present the recorded investment in non-performing loans by class of loans. September 30, 2021 Loans Past Nonaccrual (Dollar amounts in thousands) Accruing Nonaccrual For Credit Loss Commercial Commercial & Industrial $ — $ 3,451 $ 750 Farmland — 1,039 1,014 Non Farm, Non Residential — 3,100 2,990 Agriculture — 1,214 1,150 All Other Commercial — 252 — Residential First Liens 1,173 2,723 46 Home Equity 13 86 — Junior Liens 35 300 — Multifamily — 205 — All Other Residential — 114 — Consumer Motor Vehicle 191 528 — All Other Consumer — 638 — TOTAL $ 1,412 $ 13,650 $ 5,950 December 31, 2020 Loans Past Nonaccrual (Dollar amounts in thousands) Accruing Nonaccrual For Credit Loss Commercial Commercial & Industrial $ — $ 4,838 $ 1,080 Farmland — 195 — Non Farm, Non Residential — 3,729 3,267 Agriculture — 409 — All Other Commercial — 533 24 Residential First Liens 1,746 2,604 86 Home Equity 88 30 — Junior Liens 252 206 — Multifamily — 1,380 — All Other Residential — 135 — Consumer Motor Vehicle 372 754 — All Other Consumer — 554 — TOTAL $ 2,458 $ 15,367 $ 4,457 |
Aging of recorded investment in loans by past due category and class of loans | The following tables presents the aging of the recorded investment in loans by past due category and class of loans. September 30, 2021 30-59 Days 60-89 Days 90 Days and Greater Total (Dollar amounts in thousands) Past Due Past Due Past Due Past Due Current Total Commercial Commercial & Industrial $ 2,283 $ 59 $ 2,741 $ 5,083 $ 569,962 $ 575,045 Farmland — — — — 114,045 114,045 Non Farm, Non Residential 63 68 7 138 342,073 342,211 Agriculture 96 — 1,188 1,284 122,284 123,568 All Other Commercial 77 — — 77 310,325 310,402 Residential First Liens 858 873 1,840 3,571 302,634 306,205 Home Equity 304 210 86 600 57,099 57,699 Junior Liens 81 71 188 340 50,794 51,134 Multifamily — — — — 106,564 106,564 All Other Residential — 45 — 45 15,556 15,601 Consumer Motor Vehicle 5,147 836 229 6,212 444,294 450,506 All Other Consumer 127 50 — 177 33,380 33,557 TOTAL $ 9,036 $ 2,212 $ 6,279 $ 17,527 $ 2,469,010 $ 2,486,537 December 31, 2020 30-59 Days 60-89 Days 90 Days and Greater Total (Dollar amounts in thousands) Past Due Past Due Past Due Past Due Current Total Commercial Commercial & Industrial $ 685 $ 746 $ 3,364 $ 4,795 $ 603,777 $ 608,572 Farmland 22 — 91 113 118,528 118,641 Non Farm, Non Residential 155 — 271 426 350,681 351,107 Agriculture 28 30 275 333 146,147 146,480 All Other Commercial — — 24 24 305,612 305,636 Residential First Liens 5,506 1,866 2,365 9,737 314,730 324,467 Home Equity 260 29 104 393 60,362 60,755 Junior Liens 421 68 341 830 53,346 54,176 Multifamily — — — — 151,042 151,042 All Other Residential — 50 — 50 15,918 15,968 Consumer Motor Vehicle 6,975 1,294 560 8,829 441,283 450,112 All Other Consumer 164 19 13 196 31,401 31,597 TOTAL $ 14,216 $ 4,102 $ 7,408 $ 25,726 $ 2,592,827 $ 2,618,553 |
Troubled Debt Restructurings on Financing Receivables | During the three and nine months ended September 30, 2021 and 2020, the terms of certain loans were modified as troubled debt restructurings (TDRs). The following tables present the activity for TDRs. 2021 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, $ — $ 3,904 $ 556 $ 4,460 Added — — 172 172 Charged Off — — — — Payments — (91) (52) (143) September 30, $ — $ 3,813 $ 676 $ 4,489 2021 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, $ — $ 3,589 $ 617 $ 4,206 Added — 491 294 785 Charged Off — (27) (75) (102) Payments — (240) (160) (400) September 30, $ — $ 3,813 $ 676 $ 4,489 2020 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, — 3,231 668 3,899 Added — 313 81 394 Charged Off — — (30) (30) Payments — (112) (54) (166) September 30, — 3,432 665 4,097 2020 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, 11 3,485 698 4,194 Added — 436 216 652 Charged Off — (6) (80) (86) Payments (11) (483) (169) (663) September 30, — 3,432 665 4,097 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of contractual maturities of debt securities | Contractual maturities of debt securities at September 30, 2021 were as follows. Available-for-Sale Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 12,587 $ 12,658 Due after one but within five years 46,094 47,490 Due after five but within ten years 71,063 74,923 Due after ten years 362,734 382,615 492,478 517,686 Mortgage-backed securities and collateralized mortgage obligations 750,282 753,134 TOTAL $ 1,242,760 $ 1,270,820 |
Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position | The following tables show the securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at September 30, 2021 and December 31, 2020. September 30, 2021 Less Than 12 Months More Than 12 Months Total Unrealized Unrealized Unrealized (Dollar amounts in thousands) Fair Value Losses Fair Value Losses Fair Value Losses U.S. Government agencies $ 28,142 $ (364) $ 159 $ (2) $ 28,301 $ (366) Mortgage Backed Securities - Residential 341,414 (5,047) 4,746 (118) 346,160 (5,165) Collateralized mortgage obligations 53,536 (702) 7,938 (70) 61,474 (772) State and municipal obligations 64,791 (770) — — 64,791 (770) Municipal taxable 6,459 (49) 731 (19) 7,190 (68) U.S. Treasury — — — — — — Total temporarily impaired securities $ 494,342 $ (6,932) $ 13,574 $ (209) $ 507,916 $ (7,141) December 31, 2020 Less Than 12 Months More Than 12 Months Total Unrealized Unrealized Unrealized (Dollar amounts in thousands) Fair Value Losses Fair Value Losses Fair Value Losses U.S. Government agencies $ — $ — $ 944 $ (1) $ 944 $ (1) Mortgage Backed Securities - Residential 76,962 (279) — — 76,962 (279) Collateralized mortgage obligations 12,282 (108) 3,767 (49) 16,049 (157) State and municipal obligations 747 (3) — — 747 (3) U.S. Treasury 250 — — — 250 — Total temporarily impaired securities $ 90,241 $ (390) $ 4,711 $ (50) $ 94,952 $ (440) |
Rollforward of the credit losses recognized in earnings | The table below presents a rollforward of the credit losses recognized in earnings for the three and nine month periods ended September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, (Dollar amounts in thousands) 2021 2020 2021 2020 Beginning balance $ 2,974 $ 2,974 $ 2,974 $ 2,974 Reductions for securities called during the period — — — — Ending balance $ 2,974 $ 2,974 $ 2,974 $ 2,974 |
Debt Securities, Available-for-sale | All securities are classified as available-for-sale. September 30, 2021 (Dollar amounts in thousands) Amortized Unrealized Unrealized Fair Value U.S. Government agencies $ 115,492 $ 3,965 $ (366) $ 119,091 Mortgage Backed Securities - residential 574,048 6,056 (5,165) 574,939 Mortgage Backed Securities - commercial 15,591 336 — 15,927 Collateralized mortgage obligations 160,643 2,397 (772) 162,268 State and municipal obligations 345,263 18,664 (770) 363,157 Municipal taxable 31,067 539 (68) 31,538 U.S. Treasury 656 — — 656 Collateralized debt obligations — 3,244 — 3,244 TOTAL $ 1,242,760 $ 35,201 $ (7,141) $ 1,270,820 December 31, 2020 (Dollar amounts in thousands) Amortized Unrealized Unrealized Fair Value U.S. Government agencies $ 92,710 $ 5,105 $ (1) $ 97,814 Mortgage Backed Securities-residential 346,606 8,794 (279) 355,121 Mortgage Backed Securities-commercial 17,931 559 — 18,490 Collateralized mortgage obligations 209,556 4,761 (157) 214,160 State and municipal obligations 285,837 20,294 — 306,131 Municipal taxable 22,440 702 (3) 23,139 U.S. Treasury 2,750 3 — 2,753 Collateralized debt obligations — 3,136 — 3,136 TOTAL $ 977,830 $ 43,354 $ (440) $ 1,020,744 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of assets and liabilities measured at fair value | The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2 inputs). September 30, 2021 Fair Value Measurements Using Significant (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 119,091 $ — $ 119,091 Mortgage Backed Securities-residential — 574,939 — 574,939 Mortgage Backed Securities-commercial — 15,927 — 15,927 Collateralized mortgage obligations — 162,268 — 162,268 State and municipal — 361,262 1,895 363,157 Municipal taxable — 31,538 — 31,538 U.S. Treasury — 656 — 656 Collateralized debt obligations — — 3,244 3,244 TOTAL $ — $ 1,265,681 $ 5,139 $ 1,270,820 Derivative Assets 1,371 Derivative Liabilities (1,371) December 31, 2020 Fair Value Measurements Using Significant (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 97,814 $ — $ 97,814 Mortgage Backed Securities-residential — 355,121 — 355,121 Mortgage Backed Securities-commercial — 18,490 — 18,490 Collateralized mortgage obligations — 214,160 — 214,160 State and municipal — 304,236 1,895 306,131 Municipal taxable — 23,139 — 23,139 U.S. Treasury — 2,753 — 2,753 Collateralized debt obligations — — 3,136 3,136 TOTAL $ — $ 1,015,713 $ 5,031 $ 1,020,744 Derivative Assets 2,465 Derivative Liabilities (2,465) |
Roll forward of financial instruments having fair value measurements using significant unobservable inputs (Level 3) | The tables below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2021 and the year ended December 31, 2020. Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended September 30, 2021 (Dollar amounts in thousands) State and Collateralized Total Beginning balance, July 1 $ 1,895 $ 3,265 $ 5,160 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — (21) (21) Transfers — — — Settlements — — — Ending balance, September 30 $ 1,895 $ 3,244 $ 5,139 Nine Months Ended September 30, 2021 (Dollar amounts in thousands) State and Collateralized Total Beginning balance, January 1 $ 1,895 $ 3,136 $ 5,031 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 108 108 Transfers — — — Settlements — — — Ending balance, September 30 $ 1,895 $ 3,244 $ 5,139 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Year Ended December 31, 2020 (Dollar amounts in thousands) State and Collateralized Total Beginning balance, January 1 $ 2,565 $ 3,619 $ 6,184 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — (483) (483) Purchases — — — Settlements (670) — (670) Ending balance, December 31 $ 1,895 $ 3,136 $ 5,031 |
Quantitative information about recurring and non-recurring Level 3 | The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at September 30, 2021. (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 1,895 Discounted cash flow Discount rate 3.41%-4.44% Collateral dependent loans $ 2,231 Discounted collateral Discount rate for age of appraisal and market conditions 0.00%-50.00% The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2020. (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 1,895 Discounted cash flow Discount rate 3.41%-4.44% Collateral dependent loans 6,581 Discounted collateral Discount rate for age of appraisal and market conditions 0.00%-50.00% |
Schedule of loans identified as impaired by class of loans | The following tables presents collateral dependent loans measured at fair value on a non-recurring basis, as of September 30, 2021 and December 31, 2020, which are all considered Level 3. September 30, 2021 (Dollar amounts in thousands) Carrying Allowance Fair Value Commercial Commercial & Industrial $ 3,297 $ 1,162 $ 2,135 Farmland — — — Non Farm, Non Residential 3,079 3,058 21 Agriculture — — — All Other Commercial 248 207 41 Residential First Liens — — — Home Equity — — — Junior Liens — — — Multifamily 205 171 34 All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 6,829 $ 4,598 $ 2,231 December 31, 2020 (Dollar amounts in thousands) Carrying Allowance Fair Value Commercial Commercial & Industrial $ 4,435 $ 1,363 $ 3,072 Farmland 1,231 35 1,196 Non Farm, Non Residential 3,193 3,038 155 Agriculture 600 162 438 All Other Commercial 528 52 476 Residential First Liens — — — Home Equity — — — Junior Liens — — — Multifamily 1,380 136 1,244 All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 11,367 $ 4,786 $ 6,581 |
Schedule of carrying amount and estimated fair value of financial instruments | The fair value of off-balance sheet items is not considered material. September 30, 2021 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 758,120 $ 25,996 $ 732,124 $ — $ 758,120 Federal funds sold 6,183 — 6,183 — 6,183 Securities available-for-sale 1,270,820 — 1,265,681 5,139 1,270,820 Restricted stock 14,837 n/a n/a n/a n/a Loans, net 2,436,948 — — 2,381,649 2,381,649 Accrued interest receivable 15,963 — 5,638 10,325 15,963 Deposits (4,028,636) — (4,036,693) — (4,036,693) Short-term borrowings (101,051) — (101,051) — (101,051) Other borrowings (5,902) — (6,207) — (6,207) Accrued interest payable (664) — (664) — (664) December 31, 2020 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 657,470 $ 25,645 $ 631,825 $ — $ 657,470 Federal funds sold 301 — 301 — 301 Securities available-for-sale 1,020,744 — 1,015,713 5,031 1,020,744 Restricted stock 14,812 n/a n/a n/a n/a Loans, net 2,563,242 — — 2,560,683 2,560,683 Accrued interest receivable 16,957 — 3,521 13,436 16,957 Deposits (3,755,945) — (3,763,358) — (3,763,358) Short-term borrowings (116,061) — (116,061) — (116,061) Other borrowings (5,859) — (6,297) — (6,297) Accrued interest payable (1,033) — (1,033) — (1,033) |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Short-term Debt [Abstract] | |
Schedule of short-term borrowings | Period–end short-term borrowings were comprised of the following: (Dollar amounts in thousands) September 30, 2021 December 31, 2020 Federal Funds Purchased $ 1,575 $ 6,500 Repurchase Agreements 99,476 109,561 $ 101,051 $ 116,061 |
Components of Net Periodic Be_2
Components of Net Periodic Benefit Cost (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Retirement Benefits [Abstract] | |
Schedule of Net Benefit Costs | Three Months Ended September 30, Nine Months Ended September 30, (Dollar amounts in thousands) Pension Benefits Post-Retirement Pension Benefits Post-Retirement 2021 2020 2021 2020 2021 2020 2021 2020 Service cost $ 339 $ 325 $ 10 $ 10 $ 1,016 $ 975 $ 32 $ 29 Interest cost 658 779 26 32 1,974 2,337 77 94 Expected return on plan assets (1,178) (1,050) — — (3,535) (3,149) — — Net amortization of prior service cost — 1 — — — 1 — — Net amortization of net (gain) loss 518 492 — — 1,554 1,476 — — Net Periodic Benefit Cost $ 337 $ 547 $ 36 $ 42 $ 1,009 $ 1,640 $ 109 $ 123 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | The following tables summarize the changes, net of tax, within each classification of accumulated other comprehensive income/(loss) for the three and nine months ended September 30, 2021 and 2020. Unrealized gains and 2021 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 24,866 $ (23,454) $ 1,412 Change in other comprehensive income (loss) before reclassification (2,981) — (2,981) Amounts reclassified from accumulated other comprehensive income (4) 471 467 Net current period other comprehensive income (loss) (2,985) 471 (2,514) Ending balance, September 30, $ 21,881 $ (22,983) $ (1,102) Unrealized gains and 2021 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ 34,162 $ (24,398) $ 9,764 Change in other comprehensive income (loss) before reclassification (12,198) — (12,198) Amounts reclassified from accumulated other comprehensive income (83) 1,415 1,332 Net current period other comprehensive income (loss) (12,281) 1,415 (10,866) Ending balance, September 30, $ 21,881 $ (22,983) $ (1,102) Unrealized gains and 2020 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 31,121 $ (21,606) $ 9,515 Change in other comprehensive income (loss) before reclassification 2,227 — 2,227 Amounts reclassified from accumulated other comprehensive income (4) 383 379 Net current period other comprehensive income (loss) 2,223 383 2,606 Ending balance, September 30, $ 33,344 $ (21,223) $ 12,121 |
Schedule Of Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment | Balance Current Balance (Dollar amounts in thousands) 1/1/2021 Change 9/30/2021 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 31,810 $ (12,362) $ 19,448 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,352 81 2,433 Total unrealized gain (loss) on securities available-for-sale $ 34,162 $ (12,281) $ 21,881 Unrealized loss on retirement plans (24,398) 1,415 (22,983) TOTAL $ 9,764 $ (10,866) $ (1,102) Balance Current Balance (Dollar amounts in thousands) 7/1/2020 Change 9/30/2020 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 28,913 $ 2,154 $ 31,067 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,208 69 2,277 Total unrealized gain (loss) on securities available-for-sale $ 31,121 $ 2,223 $ 33,344 Unrealized loss on retirement plans (21,606) 383 (21,223) TOTAL $ 9,515 $ 2,606 $ 12,121 Balance Current Balance (Dollar amounts in thousands) 1/1/2020 Change 9/30/2020 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 12,178 $ 18,889 $ 31,067 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,715 (438) 2,277 Total unrealized income (loss) on securities available-for-sale $ 14,893 $ 18,451 $ 33,344 Unrealized gain (loss) on retirement plans (22,394) 1,171 (21,223) TOTAL $ (7,501) $ 19,622 $ 12,121 |
Accumulated Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent | Three Months Ended September 30, 2021 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 5 Net securities gains (losses) on available-for-sale (1) Income tax expense securities $ 4 Net of tax Amortization of $ (518) (a) Salary and benefits retirement plan items 47 Income tax expense $ (471) Net of tax Total reclassifications for the period $ (467) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). Nine Months Ended September 30, 2021 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 111 Net securities gains (losses) on available-for-sale (28) Income tax expense securities $ 83 Net of tax Amortization of $ (1,554) (a) Salary and benefits retirement plan items 139 Income tax expense $ (1,415) Net of tax Total reclassifications for the period $ (1,332) Net of tax Three Months Ended September 30, 2020 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 5 Net securities gains (losses) on available-for-sale (1) Income tax expense securities $ 4 Net of tax Amortization of $ (492) (a) Salary and benefits retirement plan items 109 Income tax expense $ (383) Net of tax Total reclassifications for the period $ (379) Net of tax |
Significant Accounting Polici_2
Significant Accounting Policies (Details Textual) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021USD ($)segmentshares | Sep. 30, 2020USD ($)shares | |
Accounting Policies [Abstract] | ||
Number of Reportable Segments | segment | 1 | |
Vesting period | 3 years | |
Incremental vesting rights for first year (as a percent) | 33.00% | |
Incremental vesting rights for second year (as a percent) | 33.00% | |
Incremental vesting rights for third year (as a percent) | 34.00% | |
Number of shares awarded | shares | 21,159 | 19,688 |
Grant date value | $ | $ 885 | $ 837 |
Allowance for Loan Losses (Deta
Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | $ 44,732 | $ 23,285 | $ 47,052 | $ 19,943 |
Provision for loan losses | (1,500) | 4,425 | (3,244) | 10,080 |
Loans charged off | (1,614) | (1,998) | (5,103) | (6,442) |
Recoveries | 1,344 | 1,248 | 4,257 | 3,379 |
Ending Balance | 42,962 | 26,960 | 42,962 | 26,960 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 15,693 | 10,149 | 16,901 | 8,945 |
Provision for loan losses | (531) | 1,992 | (2,067) | 3,325 |
Loans charged off | (313) | (160) | (612) | (834) |
Recoveries | 182 | 147 | 809 | 692 |
Ending Balance | 15,031 | 12,128 | 15,031 | 12,128 |
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 17,837 | 1,876 | 19,142 | 1,302 |
Provision for loan losses | (1,387) | 17 | (2,577) | 795 |
Loans charged off | (61) | (296) | (492) | (719) |
Recoveries | 130 | 185 | 446 | 404 |
Ending Balance | 16,519 | 1,782 | 16,519 | 1,782 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 10,988 | 10,054 | 11,009 | 8,304 |
Provision for loan losses | 173 | 1,695 | 941 | 5,425 |
Loans charged off | (1,240) | (1,542) | (3,999) | (4,889) |
Recoveries | 1,032 | 916 | 3,002 | 2,283 |
Ending Balance | 10,953 | 11,123 | 10,953 | 11,123 |
Unallocated | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 214 | 1,206 | 0 | 1,392 |
Provision for loan losses | 245 | 721 | 459 | 535 |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Ending Balance | $ 459 | $ 1,927 | $ 459 | $ 1,927 |
Allowance for Loan Losses (De_2
Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Ending Balance Attributable to Loans | ||||||
Ending Balance | $ 42,962 | $ 44,732 | $ 47,052 | $ 26,960 | $ 23,285 | $ 19,943 |
Loans | ||||||
Total | 2,486,537 | 2,618,553 | ||||
Commercial Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Ending Balance | 15,031 | 15,693 | 16,901 | 12,128 | 10,149 | 8,945 |
Residential Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Ending Balance | 16,519 | 17,837 | 19,142 | 1,782 | 1,876 | 1,302 |
Consumer Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Ending Balance | 10,953 | 10,988 | 11,009 | 11,123 | 10,054 | 8,304 |
Unallocated | ||||||
Ending Balance Attributable to Loans | ||||||
Ending Balance | $ 459 | $ 214 | $ 0 | $ 1,927 | $ 1,206 | $ 1,392 |
Allowance for Loan Losses (De_3
Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2021 | Dec. 31, 2020 | |
Recorded Investment | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 2,231 | |||
Fair value | $ 6,581 | |||
Average Recorded Investment | ||||
TOTAL | $ 13,198 | $ 10,811 | ||
Interest Income Recognized | ||||
TOTAL | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
TOTAL | 0 | 0 | ||
Commercial & Industrial | ||||
Recorded Investment | ||||
Fair value | 2,135 | 3,072 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 1,026 | 1,048 | ||
With an allowance recorded: | 2,136 | 1,140 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Farmland | ||||
Recorded Investment | ||||
Fair value | 0 | 1,196 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 662 | 1,161 | ||
With an allowance recorded: | 0 | 0 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Non Farm, Non Residential | ||||
Recorded Investment | ||||
Fair value | 21 | 155 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 3,436 | 2,596 | ||
With an allowance recorded: | 171 | 86 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Agriculture | ||||
Recorded Investment | ||||
Fair value | 0 | |||
Average Recorded Investment | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 190 | 95 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
All Other Commercial | ||||
Recorded Investment | ||||
Fair value | 41 | 476 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 25 | 26 | ||
With an allowance recorded: | 754 | 377 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
First Liens | ||||
Recorded Investment | ||||
Fair value | 0 | 0 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 3,452 | 3,609 | ||
With an allowance recorded: | 0 | 0 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Home Equity | ||||
Recorded Investment | ||||
Fair value | 0 | 0 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Junior Liens | ||||
Recorded Investment | ||||
Fair value | 0 | 0 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Multifamily | ||||
Recorded Investment | ||||
Fair value | 34 | 1,244 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 1,346 | 673 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
All Other Residential | ||||
Recorded Investment | ||||
Fair value | 0 | 0 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Motor Vehicle | ||||
Recorded Investment | ||||
Fair value | 0 | 0 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
All Other Consumer | ||||
Recorded Investment | ||||
Fair value | $ 0 | $ 0 | ||
Average Recorded Investment | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | ||
Cash Basis Interest Income Recognized | ||||
With no related allowance recorded: | 0 | 0 | ||
With an allowance recorded: | $ 0 | $ 0 |
Allowance for Loan Losses (De_4
Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | $ 6,581 | |||||
Financing Receivable, Troubled Debt Restructuring | $ 4,489 | $ 4,460 | 4,206 | $ 4,097 | $ 3,899 | $ 4,194 |
Commercial & Industrial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 2,135 | 3,072 | ||||
Farmland | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 1,196 | ||||
Non Farm, Non Residential | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 21 | 155 | ||||
Agriculture | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | |||||
All Other Commercial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 41 | 476 | ||||
First Liens | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Home Equity | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Junior Liens | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Multifamily | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 34 | 1,244 | ||||
All Other Residential | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Motor Vehicle | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
All Other Consumer | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Nonperforming Financing Receivable [Member] | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 1,412 | 2,458 | ||||
Nonaccrual | 5,950 | 4,457 | ||||
Financing Receivable, Modifications, Nonaccrual | 13,650 | 15,367 | ||||
Nonperforming Financing Receivable [Member] | Commercial & Industrial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 750 | 1,080 | ||||
Financing Receivable, Modifications, Nonaccrual | 3,451 | 4,838 | ||||
Nonperforming Financing Receivable [Member] | Farmland | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 1,014 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 1,039 | 195 | ||||
Nonperforming Financing Receivable [Member] | Non Farm, Non Residential | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 2,990 | 3,267 | ||||
Financing Receivable, Modifications, Nonaccrual | 3,100 | 3,729 | ||||
Nonperforming Financing Receivable [Member] | Agriculture | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 1,150 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 1,214 | 409 | ||||
Nonperforming Financing Receivable [Member] | All Other Commercial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 0 | 24 | ||||
Financing Receivable, Modifications, Nonaccrual | 252 | 533 | ||||
Nonperforming Financing Receivable [Member] | First Liens | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 1,173 | 1,746 | ||||
Nonaccrual | 46 | 86 | ||||
Financing Receivable, Modifications, Nonaccrual | 2,723 | 2,604 | ||||
Nonperforming Financing Receivable [Member] | Home Equity | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 13 | 88 | ||||
Nonaccrual | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 86 | 30 | ||||
Nonperforming Financing Receivable [Member] | Junior Liens | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 35 | 252 | ||||
Nonaccrual | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 300 | 206 | ||||
Nonperforming Financing Receivable [Member] | Multifamily | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 205 | 1,380 | ||||
Nonperforming Financing Receivable [Member] | All Other Residential | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 114 | 135 | ||||
Nonperforming Financing Receivable [Member] | Motor Vehicle | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 191 | 372 | ||||
Nonaccrual | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 528 | 754 | ||||
Nonperforming Financing Receivable [Member] | All Other Consumer | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | $ 638 | $ 554 |
Allowance for Loan Losses (De_5
Allowance for Loan Losses (Details 4) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Beginning Balance | $ 4,460 | $ 3,899 | $ 4,206 | $ 4,194 |
Added | 172 | 394 | 785 | 652 |
Charged Off | 0 | (30) | (102) | (86) |
Payments | (143) | (166) | (400) | (663) |
Ending Balance | 4,489 | 4,097 | 4,489 | 4,097 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Beginning Balance | 0 | 0 | 0 | 11 |
Added | 0 | 0 | 0 | 0 |
Charged Off | 0 | 0 | 0 | 0 |
Payments | 0 | 0 | 0 | (11) |
Ending Balance | 0 | 0 | 0 | 0 |
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Beginning Balance | 3,904 | 3,231 | 3,589 | 3,485 |
Added | 0 | 313 | 491 | 436 |
Charged Off | 0 | 0 | (27) | (6) |
Payments | (91) | (112) | (240) | (483) |
Ending Balance | 3,813 | 3,432 | 3,813 | 3,432 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Beginning Balance | 556 | 668 | 617 | 698 |
Added | 172 | 81 | 294 | 216 |
Charged Off | 0 | (30) | (75) | (80) |
Payments | (52) | (54) | (160) | (169) |
Ending Balance | $ 676 | $ 665 | $ 676 | $ 665 |
Allowance for Loan Losses (De_6
Allowance for Loan Losses (Details 5) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Aging of recorded investment in loans by past due category and class of loans | ||
Total | $ 2,486,537 | $ 2,618,553 |
Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 575,045 | 608,572 |
Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 114,045 | 118,641 |
Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 342,211 | 351,107 |
Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 123,568 | 146,480 |
All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 310,402 | 305,636 |
First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 306,205 | 324,467 |
Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 57,699 | 60,755 |
Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 51,134 | 54,176 |
Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 106,564 | 151,042 |
All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 15,601 | 15,968 |
Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 450,506 | 450,112 |
All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 33,557 | 31,597 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 9,036 | 14,216 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 2,283 | 685 |
Financial Asset, 30 to 59 Days Past Due [Member] | Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 22 |
Financial Asset, 30 to 59 Days Past Due [Member] | Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 63 | 155 |
Financial Asset, 30 to 59 Days Past Due [Member] | Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 96 | 28 |
Financial Asset, 30 to 59 Days Past Due [Member] | All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 77 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 858 | 5,506 |
Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 304 | 260 |
Financial Asset, 30 to 59 Days Past Due [Member] | Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 81 | 421 |
Financial Asset, 30 to 59 Days Past Due [Member] | Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 5,147 | 6,975 |
Financial Asset, 30 to 59 Days Past Due [Member] | All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 127 | 164 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 2,212 | 4,102 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 59 | 746 |
Financial Asset, 60 to 89 Days Past Due [Member] | Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 68 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 30 |
Financial Asset, 60 to 89 Days Past Due [Member] | All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 873 | 1,866 |
Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 210 | 29 |
Financial Asset, 60 to 89 Days Past Due [Member] | Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 71 | 68 |
Financial Asset, 60 to 89 Days Past Due [Member] | Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 45 | 50 |
Financial Asset, 60 to 89 Days Past Due [Member] | Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 836 | 1,294 |
Financial Asset, 60 to 89 Days Past Due [Member] | All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 50 | 19 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 6,279 | 7,408 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 2,741 | 3,364 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 91 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 7 | 271 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 1,188 | 275 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 24 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 1,840 | 2,365 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 86 | 104 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 188 | 341 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 229 | 560 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 13 |
Financial Asset, Past Due | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 17,527 | 25,726 |
Financial Asset, Past Due | Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 5,083 | 4,795 |
Financial Asset, Past Due | Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 113 |
Financial Asset, Past Due | Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 138 | 426 |
Financial Asset, Past Due | Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 1,284 | 333 |
Financial Asset, Past Due | All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 77 | 24 |
Financial Asset, Past Due | First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 3,571 | 9,737 |
Financial Asset, Past Due | Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 600 | 393 |
Financial Asset, Past Due | Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 340 | 830 |
Financial Asset, Past Due | Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Past Due | All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 45 | 50 |
Financial Asset, Past Due | Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 6,212 | 8,829 |
Financial Asset, Past Due | All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 177 | 196 |
Financial Asset, Not Past Due | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 2,469,010 | 2,592,827 |
Financial Asset, Not Past Due | Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 569,962 | 603,777 |
Financial Asset, Not Past Due | Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 114,045 | 118,528 |
Financial Asset, Not Past Due | Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 342,073 | 350,681 |
Financial Asset, Not Past Due | Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 122,284 | 146,147 |
Financial Asset, Not Past Due | All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 310,325 | 305,612 |
Financial Asset, Not Past Due | First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 302,634 | 314,730 |
Financial Asset, Not Past Due | Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 57,099 | 60,362 |
Financial Asset, Not Past Due | Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 50,794 | 53,346 |
Financial Asset, Not Past Due | Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 106,564 | 151,042 |
Financial Asset, Not Past Due | All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 15,556 | 15,918 |
Financial Asset, Not Past Due | Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | 444,294 | 441,283 |
Financial Asset, Not Past Due | All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Financing Receivable, before Allowance for Credit Loss | $ 33,380 | $ 31,401 |
Allowance for Loan Losses (De_7
Allowance for Loan Losses (Details 6) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | $ 2,486,537 | $ 2,618,553 |
Total loans | 2,475,954 | 2,606,113 |
Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 575,045 | 608,572 |
Farmland | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 114,045 | 118,641 |
Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 342,211 | 351,107 |
Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 123,568 | 146,480 |
All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 310,402 | 305,636 |
First Liens | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 306,205 | 324,467 |
Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 57,699 | 60,755 |
Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 51,134 | 54,176 |
Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 106,564 | 151,042 |
All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 15,601 | 15,968 |
Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 450,506 | 450,112 |
All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | $ 33,557 | $ 31,597 |
Allowance for Loan Losses (De_8
Allowance for Loan Losses (Details Textual) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Allowance for loan losses | ||
Fair value | $ 6,581,000 | |
Minimum outstanding balance of non-homogeneous loans to be individually evaluated as to credit risk | $ 100,000 | |
Commercial & Industrial | ||
Allowance for loan losses | ||
Fair value | 2,135,000 | 3,072,000 |
Farmland | ||
Allowance for loan losses | ||
Fair value | 0 | 1,196,000 |
Non Farm, Non Residential | ||
Allowance for loan losses | ||
Fair value | 21,000 | 155,000 |
Agriculture | ||
Allowance for loan losses | ||
Fair value | 0 | |
All Other Commercial | ||
Allowance for loan losses | ||
Fair value | 41,000 | 476,000 |
First Liens | ||
Allowance for loan losses | ||
Fair value | 0 | 0 |
Home Equity | ||
Allowance for loan losses | ||
Fair value | 0 | 0 |
Junior Liens | ||
Allowance for loan losses | ||
Fair value | 0 | 0 |
Multifamily | ||
Allowance for loan losses | ||
Fair value | 34,000 | 1,244,000 |
All Other Residential | ||
Allowance for loan losses | ||
Fair value | 0 | 0 |
Motor Vehicle | ||
Allowance for loan losses | ||
Fair value | 0 | 0 |
All Other Consumer | ||
Allowance for loan losses | ||
Fair value | 0 | 0 |
Nonperforming Financing Receivable [Member] | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 1,412,000 | 2,458,000 |
Nonaccrual | 5,950,000 | 4,457,000 |
Nonperforming Financing Receivable [Member] | Commercial & Industrial | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 750,000 | 1,080,000 |
Nonperforming Financing Receivable [Member] | Farmland | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 1,014,000 | 0 |
Nonperforming Financing Receivable [Member] | Non Farm, Non Residential | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 2,990,000 | 3,267,000 |
Nonperforming Financing Receivable [Member] | Agriculture | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 1,150,000 | 0 |
Nonperforming Financing Receivable [Member] | All Other Commercial | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 0 | 24,000 |
Nonperforming Financing Receivable [Member] | First Liens | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 1,173,000 | 1,746,000 |
Nonaccrual | 46,000 | 86,000 |
Nonperforming Financing Receivable [Member] | Home Equity | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 13,000 | 88,000 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | Junior Liens | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 35,000 | 252,000 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | Multifamily | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | All Other Residential | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | Motor Vehicle | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 191,000 | 372,000 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | All Other Consumer | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | $ 0 | $ 0 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | $ 1,242,760 | $ 977,830 |
Unrealized Gains | 35,201 | 43,354 |
Unrealized Losses | (7,141) | (440) |
Fair Value | 1,270,820 | 1,020,744 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 115,492 | 92,710 |
Unrealized Gains | 3,965 | 5,105 |
Unrealized Losses | (366) | (1) |
Fair Value | 119,091 | 97,814 |
Mortgage Backed Securities - Residential | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 574,048 | 346,606 |
Unrealized Gains | 6,056 | 8,794 |
Unrealized Losses | (5,165) | (279) |
Fair Value | 574,939 | 355,121 |
Mortgage Backed Securities - Commercial | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 15,591 | 17,931 |
Unrealized Gains | 336 | 559 |
Unrealized Losses | 0 | 0 |
Fair Value | 15,927 | 18,490 |
Collateralized Mortgage Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 160,643 | 209,556 |
Unrealized Gains | 2,397 | 4,761 |
Unrealized Losses | (772) | (157) |
Fair Value | 162,268 | 214,160 |
State and Municipal Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 345,263 | 285,837 |
Unrealized Gains | 18,664 | 20,294 |
Unrealized Losses | (770) | 0 |
Fair Value | 363,157 | 306,131 |
Taxable Municipal Bonds | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 31,067 | 22,440 |
Unrealized Gains | 539 | 702 |
Unrealized Losses | (68) | (3) |
Fair Value | 31,538 | 23,139 |
US Treasury Securities | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 656 | 2,750 |
Unrealized Gains | 0 | 3 |
Unrealized Losses | 0 | 0 |
Fair Value | 656 | 2,753 |
Collateralized Debt Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 0 | 0 |
Unrealized Gains | 3,244 | 3,136 |
Unrealized Losses | 0 | 0 |
Fair Value | $ 3,244 | $ 3,136 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Amortized Cost | ||
Due in one year or less | $ 12,587 | |
Due after one but within five years | 46,094 | |
Due after five but within ten years | 71,063 | |
Due after ten years | 362,734 | |
Total of securities having specified maturity period | 492,478 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | 750,282 | |
TOTAL | 1,242,760 | $ 977,830 |
Fair Value | ||
Due in one year or less | 12,658 | |
Due after one but within five years | 47,490 | |
Due after five but within ten years | 74,923 | |
Due after ten years | 382,615 | |
Total of securities having specified maturities period | 517,686 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | 753,134 | |
Fair Value | $ 1,270,820 | $ 1,020,744 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Less Than 12 Months | ||
Fair Value | $ 494,342 | $ 90,241 |
Unrealized Losses | (6,932) | (390) |
More Than 12 Months | ||
Fair Value | 13,574 | 4,711 |
Unrealized Losses | 209 | 50 |
Total | ||
Fair Value | 507,916 | 94,952 |
Unrealized Losses | 7,141 | 440 |
US Government Agencies Debt Securities [Member] | ||
Less Than 12 Months | ||
Fair Value | 28,142 | 0 |
Unrealized Losses | (364) | 0 |
More Than 12 Months | ||
Fair Value | 159 | 944 |
Unrealized Losses | 2 | 1 |
Total | ||
Fair Value | 28,301 | 944 |
Unrealized Losses | 366 | 1 |
Mortgage Backed Securities - Residential | ||
Less Than 12 Months | ||
Fair Value | 341,414 | 76,962 |
Unrealized Losses | (5,047) | (279) |
More Than 12 Months | ||
Fair Value | 4,746 | 0 |
Unrealized Losses | 118 | 0 |
Total | ||
Fair Value | 346,160 | 76,962 |
Unrealized Losses | 5,165 | 279 |
Collateralized Mortgage Obligations | ||
Less Than 12 Months | ||
Fair Value | 53,536 | 12,282 |
Unrealized Losses | (702) | (108) |
More Than 12 Months | ||
Fair Value | 7,938 | 3,767 |
Unrealized Losses | 70 | 49 |
Total | ||
Fair Value | 61,474 | 16,049 |
Unrealized Losses | 772 | 157 |
State and Municipal Obligations | ||
Less Than 12 Months | ||
Fair Value | 64,791 | 747 |
Unrealized Losses | (770) | (3) |
More Than 12 Months | ||
Fair Value | 0 | 0 |
Unrealized Losses | 0 | 0 |
Total | ||
Fair Value | 64,791 | 747 |
Unrealized Losses | 770 | 3 |
Taxable Municipal Bonds | ||
Less Than 12 Months | ||
Fair Value | 6,459 | |
Unrealized Losses | (49) | |
More Than 12 Months | ||
Fair Value | 731 | |
Unrealized Losses | 19 | |
Total | ||
Fair Value | 7,190 | |
Unrealized Losses | 68 | |
US Treasury Securities | ||
Less Than 12 Months | ||
Fair Value | 0 | 250 |
Unrealized Losses | 0 | 0 |
More Than 12 Months | ||
Fair Value | 0 | 0 |
Unrealized Losses | 0 | 0 |
Total | ||
Fair Value | 0 | 250 |
Unrealized Losses | $ 0 | $ 0 |
Securities (Details 3)
Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Rollforward of the credit losses recognized in earnings | ||||
Beginning balance | $ 2,974 | $ 2,974 | ||
Amounts realized for securities sold during the period | $ 0 | $ 0 | 0 | 0 |
Ending balance | $ 2,974 | $ 2,974 | $ 2,974 | $ 2,974 |
Securities (Details Textual)
Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Securities, Available-for-sale [Line Items] | ||||
Debt Securities, Available-for-sale, Realized Gain | $ 5 | $ 5 | ||
Cumulative OTTI charges | $ 2,974 | $ 2,974 | $ 2,974 | $ 2,974 |
Minimum [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Basis point spread on variable rate | 1.60% | |||
Maximum [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Basis point spread on variable rate | 1.80% |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair value measurement | ||
Securities, available-for-sale | $ 1,270,820 | $ 1,020,744 |
US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities, available-for-sale | 119,091 | 97,814 |
Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities, available-for-sale | 574,939 | 355,121 |
Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities, available-for-sale | 15,927 | 18,490 |
Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 162,268 | 214,160 |
State and Municipal Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 363,157 | 306,131 |
Taxable Municipal Bonds | ||
Fair value measurement | ||
Securities, available-for-sale | 31,538 | 23,139 |
US Treasury Securities | ||
Fair value measurement | ||
Securities, available-for-sale | 656 | 2,753 |
Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 3,244 | 3,136 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | State and Municipal Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Taxable Municipal Bonds | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair value measurement | ||
Securities, available-for-sale | 1,265,681 | 1,015,713 |
Derivative Assets | 1,371 | 2,465 |
Derivative Liability | (1,371) | (2,465) |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities, available-for-sale | 119,091 | 97,814 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities, available-for-sale | 574,939 | 355,121 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities, available-for-sale | 15,927 | 18,490 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 162,268 | 214,160 |
Fair Value, Inputs, Level 2 [Member] | State and Municipal Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 361,262 | 304,236 |
Fair Value, Inputs, Level 2 [Member] | Taxable Municipal Bonds | ||
Fair value measurement | ||
Securities, available-for-sale | 31,538 | 23,139 |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities | ||
Fair value measurement | ||
Securities, available-for-sale | 656 | 2,753 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair value measurement | ||
Securities, available-for-sale | 5,139 | 5,031 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | State and Municipal Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 1,895 | 1,895 |
Fair Value, Inputs, Level 3 [Member] | Taxable Municipal Bonds | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Treasury Securities | ||
Fair value measurement | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | $ 3,244 | $ 3,136 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | |
Reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs | |||
Beginning balance | $ 5,160 | $ 5,031 | $ 6,184 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | (21) | 108 | (483) |
Transfers | 0 | 0 | |
Purchases | 0 | ||
Settlements | 0 | 0 | (670) |
Ending balance | 5,139 | 5,139 | 5,031 |
State and Municipal Obligations | |||
Reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs | |||
Beginning balance | 1,895 | 1,895 | 2,565 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | 0 | 0 | 0 |
Transfers | 0 | 0 | |
Purchases | 0 | ||
Settlements | 0 | 0 | (670) |
Ending balance | 1,895 | 1,895 | 1,895 |
Collateralized Debt Obligations | |||
Reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs | |||
Beginning balance | 3,265 | 3,136 | 3,619 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | (21) | 108 | (483) |
Transfers | 0 | 0 | |
Purchases | 0 | ||
Settlements | 0 | 0 | 0 |
Ending balance | $ 3,244 | $ 3,244 | $ 3,136 |
Fair Value (Details 2)
Fair Value (Details 2) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 6 Months Ended | 9 Months Ended | |
Jun. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | |
State and Municipal Obligations | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Fair Value | $ 1,895 | $ 1,895 | |
Unobservable Inputs | Discount rateProbability of default | Discount rateProbability of default | |
Impaired Loans | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Fair Value | $ 2,231 | $ 6,581 | |
Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans identified as impaired by class of loans | ||
Carrying Value | $ 6,829 | $ 11,367 |
Allowance for Loan Losses Allocated | 4,598 | 4,786 |
Fair value | 6,581 | |
Commercial & Industrial | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 3,297 | 4,435 |
Allowance for Loan Losses Allocated | 1,162 | 1,363 |
Fair value | 2,135 | 3,072 |
Farmland | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 1,231 |
Allowance for Loan Losses Allocated | 0 | 35 |
Fair value | 0 | 1,196 |
Non Farm, Non Residential | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 3,079 | 3,193 |
Allowance for Loan Losses Allocated | 3,058 | 3,038 |
Fair value | 21 | 155 |
Agriculture | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 600 |
Allowance for Loan Losses Allocated | 0 | 162 |
Fair value | 0 | |
All Other Commercial | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 248 | 528 |
Allowance for Loan Losses Allocated | 207 | 52 |
Fair value | 41 | 476 |
First Liens | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Home Equity | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Junior Liens | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Multifamily | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 205 | 1,380 |
Allowance for Loan Losses Allocated | 171 | 136 |
Fair value | 34 | 1,244 |
All Other Residential | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Motor Vehicle | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
All Other Consumer | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | $ 0 | $ 0 |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Carrying amount and estimated fair value of financial instruments | ||
Securities, available-for-sale | $ 1,270,820 | $ 1,020,744 |
Restricted Investments | 14,837 | 14,812 |
Accrued interest receivable | 15,963 | 16,957 |
Deposits | (4,028,636) | (3,755,945) |
Fair Value, Inputs, Level 1 [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 25,996 | 25,645 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | 0 |
Securities, available-for-sale | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Other borrowings | 0 | 0 |
Accrued interest payable | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 732,124 | 631,825 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 6,183 | 301 |
Securities, available-for-sale | 1,265,681 | 1,015,713 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest receivable | 5,638 | 3,521 |
Deposits | (4,036,693) | (3,763,358) |
Short-term borrowings | (101,051) | (116,061) |
Other borrowings | (6,207) | (6,297) |
Accrued interest payable | (664) | (1,033) |
Fair Value, Inputs, Level 3 [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | 0 |
Securities, available-for-sale | 5,139 | 5,031 |
Loans Receivable, Fair Value Disclosure | 2,381,649 | 2,560,683 |
Accrued interest receivable | 10,325 | 13,436 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Other borrowings | 0 | 0 |
Accrued interest payable | 0 | 0 |
Reported Value Measurement [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 758,120 | 657,470 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 6,183 | 301 |
Securities, available-for-sale | 1,270,820 | 1,020,744 |
Restricted Investments | 14,837 | 14,812 |
Loans Receivable, Fair Value Disclosure | 2,436,948 | 2,563,242 |
Accrued interest receivable | 15,963 | 16,957 |
Deposits | (4,028,636) | (3,755,945) |
Short-term borrowings | (101,051) | (116,061) |
Other borrowings | (5,902) | (5,859) |
Accrued interest payable | (664) | (1,033) |
Estimate of Fair Value Measurement [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 758,120 | 657,470 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 6,183 | 301 |
Securities, available-for-sale | 1,270,820 | 1,020,744 |
Loans Receivable, Fair Value Disclosure | 2,381,649 | 2,560,683 |
Accrued interest receivable | 15,963 | 16,957 |
Deposits | (4,036,693) | (3,763,358) |
Short-term borrowings | (101,051) | (116,061) |
Other borrowings | (6,207) | (6,297) |
Accrued interest payable | $ (664) | $ (1,033) |
Fair Value (Details Textual)
Fair Value (Details Textual) $ in Thousands | 6 Months Ended | 9 Months Ended | |
Jun. 30, 2021 | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Valuation allowance for impaired loans | $ 4,598 | $ 4,786 | |
Other real estate owned | 884 | 1,012 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair Value | $ 2,231 | 6,581 | |
Fair Value Measurements Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions | |
State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair Value | $ 1,895 | $ 1,895 | |
Fair Value Measurements Unobservable Inputs | Discount rateProbability of default | Discount rateProbability of default | |
Measurement Input, Discount Rate [Member] | Minimum [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Other Real Estate, measurement input | 0 | ||
Measurement Input, Discount Rate [Member] | Minimum [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Impaired loans, measurement input | 0 | 0 | |
Measurement Input, Discount Rate [Member] | Minimum [Member] | Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Other Real Estate, measurement input | 0.0500 | 0.0500 | |
Measurement Input, Discount Rate [Member] | Minimum [Member] | State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
State and Municipal Obligations, measurement input | 0.0305 | 0.0305 | |
Measurement Input, Discount Rate [Member] | Maximum [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Other Real Estate, measurement input | 0.50 | ||
Measurement Input, Discount Rate [Member] | Maximum [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Impaired loans, measurement input | 0.5000 | 0.5000 | |
Measurement Input, Discount Rate [Member] | Maximum [Member] | Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Other Real Estate, measurement input | 0.2000 | 0.2000 | |
Measurement Input, Discount Rate [Member] | Maximum [Member] | State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
State and Municipal Obligations, measurement input | 0.0550 | 0.0550 |
Short-Term Borrowings (Details)
Short-Term Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Short-term Debt [Abstract] | ||
Federal Funds Purchased | $ 1,575 | $ 6,500 |
Securities Sold under Agreements to Repurchase | 99,476 | 109,561 |
Short-term borrowings | $ 101,051 | $ 116,061 |
Short-Term Borrowings Short-Ter
Short-Term Borrowings Short-Term Borrowings (Details 1) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 99,476 | $ 109,561 |
Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 92,952 | 86,335 |
Maturity up to 30 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 1,086 |
Maturity 30 to 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 21,342 |
Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 6,524 | $ 798 |
Components of Net Periodic Be_3
Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 2,300 | ||||
Post-Retirement Health Benefits [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 240 | ||||
Service cost | $ 10 | $ 10 | $ 32 | $ 29 | |
Interest cost | 26 | 32 | 77 | 94 | |
Expected return on plan assets | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 | 0 | |
Net amortization of net (gain) loss | 0 | 0 | 0 | 0 | |
Net Periodic Benefit Cost | 36 | 42 | 109 | 123 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 167 | ||||
Pension Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Service cost | 339 | 325 | 1,016 | 975 | |
Interest cost | 658 | 779 | 1,974 | 2,337 | |
Expected return on plan assets | (1,178) | (1,050) | (3,535) | (3,149) | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 1 | 0 | 1 | |
Net amortization of net (gain) loss | 518 | 492 | 1,554 | 1,476 | |
Net Periodic Benefit Cost | $ 337 | $ 547 | 1,009 | $ 1,640 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 1,500 |
Components of Net Periodic Be_4
Components of Net Periodic Benefit Cost (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 2,300 | ||
Defined Benefit Plan, Expected Future Benefit Payment, Remainder of Fiscal Year | 715 | ||
Defined Contribution Plan Employer Accrued Discretionary Contribution Amount | $ 2,300 | $ 1,400 | |
Post Retirement Health Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 240 | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 167 | ||
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 1,500 |
Acquisitions and FDIC Indemnifi
Acquisitions and FDIC Indemnification Asset (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Business Acquisition [Line Items] | ||
Assets | $ 4,801,093 | $ 4,557,544 |
Goodwill | $ 78,592 | $ 78,592 |
Accumulated Other Comprehensi_3
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 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | $ (2,514) | $ 2,606 | $ (10,866) | $ 19,622 |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | (2,981) | 2,227 | (12,198) | 18,624 |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | 467 | 379 | 1,332 | 998 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | (2,514) | 2,606 | 19,622 | |
TOTAL Balance | 1,412 | 9,515 | 9,764 | (7,501) |
TOTAL Balance | (1,102) | 12,121 | (1,102) | 12,121 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (2,985) | 2,223 | (12,281) | 18,451 |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | (2,981) | 2,227 | (12,198) | 18,624 |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | (4) | (4) | (83) | (173) |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | (2,985) | 2,223 | 18,451 | |
TOTAL Balance | 24,866 | 31,121 | 34,162 | 14,893 |
TOTAL Balance | 21,881 | 33,344 | 21,881 | 33,344 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 471 | 383 | 1,415 | 1,171 |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | 0 | 0 | 0 | 0 |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | 471 | 383 | 1,415 | 1,171 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | 471 | 383 | 1,171 | |
TOTAL Balance | (23,454) | (21,606) | (24,398) | (22,394) |
TOTAL Balance | $ (22,983) | $ (21,223) | $ (22,983) | $ (21,223) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Footnote | $ (2,514) | |||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | (2,981) | $ 2,227 | $ (12,198) | $ 18,624 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | (2,514) | 2,606 | 19,622 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 467 | 379 | 1,332 | 998 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | (1,102) | 12,121 | (1,102) | 12,121 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (2,514) | 2,606 | (10,866) | 19,622 |
TOTAL Balance | 1,412 | 9,515 | 9,764 | (7,501) |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | (2,981) | 2,227 | (12,198) | 18,624 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | (2,985) | 2,223 | 18,451 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (4) | (4) | (83) | (173) |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 21,881 | 33,344 | 21,881 | 33,344 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (2,985) | 2,223 | (12,281) | 18,451 |
TOTAL Balance | 24,866 | 31,121 | 34,162 | 14,893 |
Unrealized gains losses on securities available-for-sale with other than temporary impairment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 2,433 | 2,277 | 2,433 | 2,277 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (16) | 69 | 81 | (438) |
TOTAL Balance | 2,449 | 2,208 | 2,352 | 2,715 |
Unrealized gains losses on securities available-for-sale without other than temporary impairment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 19,448 | 31,067 | 19,448 | 31,067 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (2,969) | 2,154 | (12,362) | 18,889 |
TOTAL Balance | 22,417 | 28,913 | 31,810 | 12,178 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 471 | 383 | 1,171 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 471 | 383 | 1,415 | 1,171 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | (22,983) | (21,223) | (22,983) | (21,223) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 471 | 383 | 1,415 | 1,171 |
TOTAL Balance | $ (23,454) | $ (21,606) | $ (24,398) | $ (22,394) |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net securities gains (losses) | $ 5 | $ 5 | $ 111 | $ 230 |
Income tax expense | (4,063) | (2,715) | (11,447) | (8,634) |
Net Income | 16,098 | 14,000 | 45,589 | 38,105 |
Change in funded status of post retirement benefits | 471 | 383 | 1,415 | 1,171 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net Income | (467) | (379) | (1,332) | (998) |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net securities gains (losses) | 5 | 5 | 111 | 230 |
Income tax expense | (1) | (1) | (28) | (57) |
Net Income | 4 | 4 | 83 | 173 |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Income tax expense | 47 | 109 | 139 | 305 |
Net Income | (471) | (383) | (1,415) | (1,171) |
Change in funded status of post retirement benefits | $ (518) | $ (492) | $ (1,554) | $ (1,476) |