Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | May 02, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2022 | |
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 | 12,421,849 | |
Entity Central Index Key | 0000714562 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
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 | Mar. 31, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 598,175 | $ 682,807 |
Federal funds sold | 736 | 308 |
Securities, available-for-sale | 1,359,483 | 1,364,734 |
Loans: | ||
Financing Receivable, before Allowance for Credit Loss, Current | 1,701,507 | 1,674,066 |
Residential | 635,264 | 664,509 |
Consumer | 464,035 | 474,026 |
Loans, gross | 2,800,806 | 2,812,601 |
Less: Unearned Income | 3,844 | 3,294 |
Less: Allowance for loan losses | (40,516) | (48,305) |
Loans, Net | 2,764,134 | 2,767,590 |
Restricted Investments | 15,547 | 16,200 |
Accrued interest receivable | 15,633 | 16,946 |
Premises and equipment, net | 69,978 | 69,522 |
Bank-owned life insurance | 117,354 | 116,997 |
Goodwill | 86,135 | 86,135 |
Other intangible assets | 7,680 | 8,024 |
Other real estate owned | 236 | 108 |
Other assets | 63,497 | 45,728 |
TOTAL ASSETS | 5,098,588 | 5,175,099 |
Deposits: | ||
Non-interest-bearing | 893,375 | 914,933 |
Interest-bearing: | ||
Certificates of deposit exceeding the FDIC insurance limits | 62,899 | 74,015 |
Other interest-bearing deposits | 3,438,916 | 3,420,621 |
Total Deposits | 4,395,190 | 4,409,569 |
Federal Funds Purchased and Securities Sold under Agreements to Repurchase | 96,672 | 93,374 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances | 15,924 | 15,937 |
Other liabilities | 65,358 | 73,643 |
TOTAL LIABILITIES | 4,573,144 | 4,592,523 |
Shareholders' equity | ||
Common stock, $.125 stated value per share; Authorized shares-40,000,000 Issued shares-16,114,992 in 2022 and 16,096,313 in 2021 Outstanding shares-12,435,309 in 2022 and 12,629,893 in 2021 | 2,010 | 2,009 |
Additional paid-in capital | 142,185 | 141,979 |
Retained earnings | 580,063 | 559,139 |
Accumulated other comprehensive income (loss) | (71,025) | (2,426) |
Less: Treasury shares at cost-3,679,683 in 2022 and 3,466,420 in 2021 | (127,789) | (118,125) |
TOTAL SHAREHOLDERS' EQUITY | 525,444 | 582,576 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 5,098,588 | $ 5,175,099 |
Common stock, stated value per share | $ 0.125 | $ 0.125 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
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 | |
Mar. 31, 2022 | Mar. 31, 2021 | |
INTEREST INCOME: | ||
Loans, including related fees | $ 32,357 | $ 31,857 |
Securities: | ||
Taxable | 4,583 | 3,079 |
Tax-exempt | 2,348 | 2,074 |
Other | 365 | 346 |
TOTAL INTEREST INCOME | 39,653 | 37,356 |
INTEREST EXPENSE: | ||
Interest Expense, Deposits | 1,676 | 2,286 |
Short-term borrowings | 82 | 98 |
Other borrowings | 84 | 59 |
TOTAL INTEREST EXPENSE | 1,842 | 2,443 |
NET INTEREST INCOME | 37,811 | 34,913 |
Provision for loan losses | (6,550) | 452 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 44,361 | 34,461 |
NON-INTEREST INCOME: | ||
Trust and financial services | 1,372 | 1,305 |
Service charges and fees on deposit accounts | 6,654 | 5,594 |
Other service charges and fees | 106 | 416 |
Net securities gains (losses) | 5 | (152) |
Gain on sales of mortgage loans | 662 | 1,393 |
Other | 4,462 | 301 |
TOTAL NON-INTEREST INCOME | 13,738 | 9,294 |
NON-INTEREST EXPENSE: | ||
Salaries and employee benefits | 17,342 | 15,677 |
Occupancy expense | 2,522 | 2,149 |
Equipment expense | 2,907 | 2,578 |
FDIC Expense | 428 | 298 |
Other | 8,145 | 6,937 |
TOTAL NON-INTEREST EXPENSE | 31,344 | 27,639 |
INCOME BEFORE INCOME TAXES | 26,755 | 16,116 |
Income tax expense | 5,831 | 3,239 |
Unrealized gain (loss) on securities, net of tax | 20,924 | 12,877 |
OTHER COMPREHENSIVE INCOME (LOSS) | ||
Change in unrealized gains/losses on securities, net of reclassifications | (68,914) | (11,068) |
Change in funded status of post retirement benefits | 315 | 472 |
COMPREHENSIVE INCOME (LOSS) | $ (47,675) | $ 2,281 |
PER SHARE DATA | ||
Basic Earnings per Share (in dollars per share) | $ 1.67 | $ 0.95 |
Diluted Earnings per Share (in dollars per share) | $ 1.67 | $ 0.95 |
Weighted average number of shares outstanding, basic (in thousands) | 12,538 | 13,533 |
Weighted average number of shares outstanding, diluted (in thousands) | 12,538 | 13,533 |
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, 2020 | $ 596,992 | $ 2,007 | $ 140,820 | $ 521,103 | $ 9,764 | $ (76,702) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 12,877 | 0 | 0 | 12,877 | 0 | 0 |
Other comprehensive income (loss) | (10,596) | 0 | 0 | 0 | (10,596) | 0 |
Omnibus Equity Incentive Plan | 205 | 1 | 204 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (1,366) | |||||
Balance at Mar. 31, 2021 | 598,112 | 2,008 | 141,024 | 533,980 | (832) | (78,068) |
Balance at Dec. 31, 2021 | 582,576 | 2,009 | 141,979 | 559,139 | (2,426) | (118,125) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 20,924 | 0 | 0 | 20,924 | 0 | 0 |
Other comprehensive income (loss) | (68,599) | 0 | 0 | 0 | (68,599) | 0 |
Omnibus Equity Incentive Plan | 207 | 1 | 206 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (9,664) | |||||
Balance at Mar. 31, 2022 | $ 525,444 | $ 2,010 | $ 142,185 | $ 580,063 | $ (71,025) | $ (127,789) |
CONSOLIDATED STATEMENTS OF SH_2
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Treasury stock purchase (in shares) | 213,263 | 34,441 |
Cash Dividends (in dollars per share) | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Income | $ 20,924 | $ 12,877 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Net amortization (accretion) of premiums and discounts on investments | 1,903 | 2,015 |
Provision for loan losses | (6,550) | 452 |
Securities (gains) losses | (5) | 152 |
Gain on sales of mortgage loans | (662) | (1,393) |
(Gain) loss on sale of other real estate | 0 | 28 |
Restricted stock compensation | 207 | 205 |
Depreciation and amortization | 1,529 | 1,572 |
Other, net | 3,199 | (716) |
NET CASH FROM OPERATING ACTIVITIES | 20,545 | 15,192 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from sales of securities available-for-sale | 0 | 4,913 |
Calls, maturities and principal reductions on securities available-for-sale | 51,989 | 75,551 |
Purchases of securities available-for-sale | (138,610) | (172,833) |
Loans made to customers, net of repayment | 11,188 | (35,178) |
Payments to Acquire Restricted Investments | (952) | (13) |
Proceeds from sales of other real estate owned | 67 | 36 |
Increase (Decrease) in Federal Funds Sold | (428) | (284) |
Additions to premises and equipment | (1,641) | (1,660) |
NET CASH FROM INVESTING ACTIVITIES | (76,782) | (129,468) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net change in deposits | (14,055) | 149,486 |
Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | 3,298 | (17,286) |
Maturities of other borrowings | (22) | 0 |
Purchase of treasury stock | (9,664) | (1,366) |
Dividends paid | (7,952) | (7,182) |
Net Cash Provided by (Used in) Financing Activities | (28,395) | 123,652 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (84,632) | 9,376 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 682,807 | 657,470 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 598,175 | 666,846 |
Proceeds from Sale of Restricted Investments | $ 1,605 | $ 0 |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
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 contained substantial tax and spending provisions intended to address the impact of the COVID-19 pandemic. The goal of the CARES Act was 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 included 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 implemented. Further, in response to the COVID-19 outbreak, the Federal Reserve Board 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. Recent declines in COVID-19 cases have resulted in most businesses reopening to capacity and a declining unemployment rate. Some supply chain issues persist contributing to inflation. COVID-19 continues to impact the Corporation's customers and still may result in adverse conditions on the Corporation's loans and investments. 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 three months ended 2022 and 2021, 18,679 and 21,159 shares were awarded, respectively. These shares had a grant date value of $847 thousand and $885 thousand for 2022 and 2021, vest over three years, and their grant is not subject to future performance measures. Outstanding shares are increased at the award date for the total shares awarded. |
Allowance for Loan Losses
Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2022 | |
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 March 31. Allowance for Credit Losses: March 31, 2022 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 18,883 $ 18,316 $ 10,721 $ 385 $ 48,305 Provision for credit losses (1,040) (5,144) (300) (66) (6,550) Loans charged-off (883) (466) (1,905) — (3,254) Recoveries 340 529 1,146 — 2,015 Ending Balance $ 17,300 $ 13,235 $ 9,662 $ 319 $ 40,516 Allowance for Credit Losses: March 31, 2021 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 13,925 $ 19,142 $ 11,009 $ — $ 44,076 Provision for credit losses (478) (262) 1,028 164 452 Loans charged-off (186) (188) (1,964) — (2,338) Recoveries 478 147 985 — 1,610 Ending Balance $ 13,739 $ 18,839 $ 11,058 $ 164 $ 43,800 The tables below present the recorded investment in non-performing loans by class of loans. March 31, 2022 Loans Past Nonaccrual (Dollar amounts in thousands) Accruing Nonaccrual For Credit Loss Commercial Commercial & Industrial $ 4 $ 689 $ 352 Farmland — 15 — Non Farm, Non Residential — 2,717 2,703 Agriculture — 84 — All Other Commercial — 4 — Residential First Liens 279 2,036 18 Home Equity — 66 — Junior Liens 89 244 — Multifamily — 211 — All Other Residential — 101 — Consumer Motor Vehicle 362 863 — All Other Consumer 13 682 — TOTAL $ 747 $ 7,712 $ 3,073 December 31, 2021 Loans Past Nonaccrual (Dollar amounts in thousands) Accruing Nonaccrual For Credit Loss Commercial Commercial & Industrial $ 14 $ 1,950 $ 1,662 Farmland — 15 — Non Farm, Non Residential — 2,911 2,898 Agriculture — 111 — All Other Commercial — 4 — Residential First Liens 346 2,339 33 Home Equity — 84 — Junior Liens 89 294 — Multifamily — 225 — All Other Residential — 107 — Consumer Motor Vehicle 94 864 — All Other Consumer — 686 — TOTAL $ 543 $ 9,590 $ 4,593 The following tables present the amortized cost basis of collateral dependent loans by class of loans: March 31, 2022 Collateral Type (Dollar amounts in thousands) Real Estate Other Commercial Commercial & Industrial $ 6,008 $ 546 Farmland 3,650 Non Farm, Non Residential 13,796 Agriculture — — All Other Commercial — — Residential First Liens 18 — Home Equity — — Junior Liens — — Multifamily 920 — All Other Residential — — Consumer Motor Vehicle — — All Other Consumer — — Total $ 24,392 $ 546 December 31, 2021 Collateral Type (Dollar amounts in thousands) Real Estate Other Commercial Commercial & Industrial $ 17,734 $ 720 Farmland 3,669 Non Farm, Non Residential 6,135 Agriculture — — All Other Commercial — — Residential First Liens 33 — Home Equity — — Junior Liens — — Multifamily 935 — All Other Residential — — Consumer Motor Vehicle — — All Other Consumer — — Total $ 28,506 $ 720 The following tables presents the aging of the recorded investment in loans by past due category and class of loans. March 31, 2022 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 $ 1,086 $ 382 $ 227 $ 1,695 $ 705,981 $ 707,676 Farmland 94 205 — 299 134,430 134,729 Non Farm, Non Residential 48 — — 48 386,785 386,833 Agriculture — — 49 49 114,251 114,300 All Other Commercial 162 — — 162 364,273 364,435 Residential First Liens 3,628 446 747 4,821 329,788 334,609 Home Equity 233 57 38 328 60,287 60,615 Junior Liens 301 110 200 611 51,008 51,619 Multifamily 386 — — 386 161,473 161,859 All Other Residential 93 — — 93 27,978 28,071 Consumer Motor Vehicle 5,935 883 686 7,504 426,290 433,794 All Other Consumer 178 50 17 245 31,875 32,120 TOTAL $ 12,144 $ 2,133 $ 1,964 $ 16,241 $ 2,794,419 $ 2,810,660 December 31, 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 $ 1,132 $ 388 $ 1,614 $ 3,134 $ 693,949 $ 697,083 Farmland 57 — — 57 141,189 141,246 Non Farm, Non Residential 62 — — 62 361,174 361,236 Agriculture 90 42 89 221 141,682 141,903 All Other Commercial 390 — — 390 340,076 340,466 Residential First Liens 4,686 680 949 6,315 336,064 342,379 Home Equity 131 24 58 213 62,085 62,298 Junior Liens 179 120 283 582 50,048 50,630 Multifamily 342 146 — 488 178,849 179,337 All Other Residential 284 291 — 575 30,843 31,418 Consumer Motor Vehicle 7,633 1,105 486 9,224 433,095 442,319 All Other Consumer 192 37 — 229 33,425 33,654 TOTAL $ 15,178 $ 2,833 $ 3,479 $ 21,490 $ 2,802,479 $ 2,823,969 During the three months ended March 31, 2022 and 2021, the terms of certain loans were modified as troubled debt restructurings (TDRs). The following tables present the activity for TDRs. 2022 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, $ 407 $ 3,686 $ 706 $ 4,799 Added — 27 68 95 Charged Off — — — — Payments — (268) (84) (352) March 31, $ 407 $ 3,445 $ 690 $ 4,542 2021 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, — 3,589 617 4,206 Added — 378 48 426 Charged Off — — (43) (43) Payments — (79) (46) (125) March 31, — 3,888 576 4,464 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 2022 or 2021 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 March 31, 2022 and 2021 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 March 31, 2022 and 2021. The Corporation has not committed to lend additional amounts as of March 31, 2022 and 2021 to customers with outstanding loans that are classified as troubled debt restructurings. None of the charge-offs during the three months ended March 31, 2022 and 2021 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 March 31, 2022, 1,105 loans totaling $225 million were modified, related to COVID-19, that were not considered troubled debt restructurings. 863 loans totaling $183 million have resumed normal scheduled payments. 184 remaining loans are still under a debt relief plan, which include 9 commercial loans totaling $35 million that have been provided additional payment relief since the initial payment relief plan. 1 loan totaling $16 thousand is 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: March 31, 2022 Term Loans at Amortized Cost Basis by Origination Year Revolving 2022 2021 2020 2019 2018 Prior Loans Total Commercial Commercial and Industrial Pass $54,640 $142,201 $67,137 $76,940 $34,752 $127,934 $146,245 $649,849 Special Mention 3,098 4,603 356 1,750 2,192 4,576 722 $17,297 Substandard — 390 453 536 3,187 6,455 13,372 $24,393 Doubtful — — — — — 5 — $5 Not Rated 9,715 2,002 1,288 815 362 246 — $14,428 Subtotal $67,453 $149,196 $69,234 $80,041 $40,493 $139,216 $160,339 $705,972 Farmland Pass $3,965 $24,146 $11,567 $11,594 $11,783 $56,064 $1,253 $120,372 Special Mention — 3,346 1,191 914 — 3,496 — $8,947 Substandard — — — — 426 3,346 — $3,772 Doubtful — — — — — — — $0 Not Rated — — — — — 58 — $58 Subtotal $3,965 $27,492 $12,758 $12,508 $12,209 $62,964 $1,253 $133,149 Non Farm, Non Residential Pass $29,516 $86,348 $32,771 $22,486 $32,792 $144,708 $10,382 $359,003 Special Mention — — — 1,089 180 3,876 — $5,145 Substandard — 1,766 — 537 2,434 16,835 — $21,572 Doubtful — — — — — — — $0 Not Rated — — — — — 425 — $425 Subtotal $29,516 $88,114 $32,771 $24,112 $35,406 $165,844 $10,382 $386,145 Agriculture Pass $1,280 $11,482 $9,663 $9,697 $2,357 $20,269 $47,047 $101,795 Special Mention — — — 1,000 — 803 6,495 $8,298 Substandard 89 — 10 137 — 449 1,593 $2,278 Doubtful — — — — — — — $0 Not Rated 38 105 93 101 35 — — $372 Subtotal $1,407 $11,587 $9,766 $10,935 $2,392 $21,521 $55,135 $112,743 Other Commercial Pass $12,561 $93,145 $75,132 $21,401 $36,150 $114,794 $3,028 $356,211 Special Mention — — — — — 5,978 — $5,978 Substandard — 68 — 20 468 9 — $565 Doubtful — — — — — — — $0 Not Rated — 87 — — 35 622 — $744 Subtotal $12,561 $93,300 $75,132 $21,421 $36,653 $121,403 $3,028 $363,498 Residential Multifamily >5 Residential Pass $7,261 $39,771 $46,791 $12,371 $6,698 $37,737 $2,046 $152,675 Special Mention — — — — — 6,478 — $6,478 Substandard — — — — — 933 — $933 Doubtful — — — — — — — $0 Not Rated — 1,143 — — — 272 — $1,415 Subtotal $7,261 $40,914 $46,791 $12,371 $6,698 $45,420 $2,046 $161,501 Total Pass $109,223 $397,093 $243,061 $154,489 $124,532 $501,506 $210,001 $1,739,905 Special Mention 3,098 7,949 1,547 4,753 2,372 25,207 7,217 $52,143 Substandard 89 2,224 463 1,230 6,515 28,027 14,965 $53,513 Doubtful — — — — — 5 — $5 Not Rated 9,753 3,337 1,381 916 432 1,623 — $17,442 Total commercial loans $122,163 $410,603 $246,452 $161,388 $133,851 $556,368 $232,183 $1,863,008 December 31, 2021 Term Loans at Amortized Cost Basis by Origination Year Revolving 2021 2020 2019 2018 2017 Prior Loans Total Commercial Commercial and Industrial Pass $163,588 $71,271 $80,668 $40,441 $37,739 $113,887 $111,594 $619,188 Special Mention 7,561 393 1,841 5,375 263 4,523 7,482 $27,438 Substandard 4,521 896 348 5,148 2,325 7,934 2,648 $23,820 Doubtful — — — — — — — $0 Not Rated 21,134 1,610 959 466 189 140 — $24,498 Subtotal $196,804 $74,170 $83,816 $51,430 $40,516 $126,484 $121,724 $694,944 Farmland Pass $25,673 $12,060 $13,111 $13,246 $11,049 $49,158 $1,418 $125,715 Special Mention — 1,191 914 — 342 3,247 — $5,694 Substandard 3,455 444 — 326 558 2,876 — $7,659 Doubtful — — — — — — — $0 Not Rated — — — — — — — $0 Subtotal $29,128 $13,695 $14,025 $13,572 $11,949 $55,281 $1,418 $139,068 Non Farm, Non Residential Pass $81,203 $37,971 $24,716 $32,775 $54,732 $97,241 $10,548 $339,186 Special Mention — — 1,103 182 1,948 1,996 — $5,229 Substandard — — 910 — 1,440 13,391 — $15,741 Doubtful — — — — — — — $0 Not Rated — — — — — 402 — $402 Subtotal $81,203 $37,971 $26,729 $32,957 $58,120 $113,030 $10,548 $360,558 Agriculture Pass $14,426 $10,386 $10,135 $2,585 $4,932 $15,755 $68,937 $127,156 Special Mention — — 1,000 — 537 271 5,257 $7,065 Substandard — 20 216 — 46 485 4,828 $5,595 Doubtful — — — — — — — $0 Not Rated 110 120 131 55 1 — — $417 Subtotal $14,536 $10,526 $11,482 $2,640 $5,516 $16,511 $79,022 $140,233 Other Commercial Pass $77,821 $69,117 $33,231 $36,495 $53,479 $58,819 $3,488 $332,450 Special Mention — — — — — 6,106 — $6,106 Substandard 72 — 25 475 — 9 — $581 Doubtful — — — — — — — $0 Not Rated 89 — — 37 — — — $126 Subtotal $77,982 $69,117 $33,256 $37,007 $53,479 $64,934 $3,488 $339,263 Residential Multifamily >5 Residential Pass $37,244 $63,312 $16,037 $7,471 $5,370 $35,284 $1,434 $166,152 Special Mention — — — — — 10,282 — $10,282 Substandard — — — — — 958 — $958 Doubtful — — — — — — — $0 Not Rated 1,149 — — — 44 384 — $1,577 Subtotal $38,393 $63,312 $16,037 $7,471 $5,414 $46,908 $1,434 $178,969 Total Pass $399,955 $264,117 $177,898 $133,013 $167,301 $370,144 $197,419 $1,709,847 Special Mention 7,561 1,584 4,858 5,557 3,090 26,425 12,739 $61,814 Substandard 8,048 1,360 1,499 5,949 4,369 25,653 7,476 $54,354 Doubtful — — — — — — — $0 Not Rated 22,482 1,730 1,090 558 234 926 — $27,020 Total commercial loans $438,046 $268,791 $185,345 $145,077 $174,994 $423,148 $217,634 $1,853,035 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: March 31, 2022 Term Loans at Amortized Cost Basis by Origination Year Revolving 2022 2021 2020 2019 2018 Prior Loans Total Residential First Liens Performing $14,671 $82,001 $46,694 $20,505 $22,331 $142,807 $2,432 $331,441 Non-performing — — — 34 67 2,218 — $2,319 Subtotal $14,671 $82,001 $46,694 $20,539 $22,398 $145,025 $2,432 $333,760 Home Equity Performing $1,191 $481 $65 $128 $711 $1,311 $56,549 $60,436 Non-performing — — 24 — — 42 — $66 Subtotal $1,191 $481 $89 $128 $711 $1,353 $56,549 $60,502 Junior Liens Performing $4,469 $12,836 $9,292 $7,590 $7,049 $8,828 $1,115 $51,179 Non-performing — — — 25 119 186 — $330 Subtotal $4,469 $12,836 $9,292 $7,615 $7,168 $9,014 $1,115 $51,509 Other Residential Performing $553 $17,731 $5,533 $1,474 $640 $1,942 $0 $27,873 Non-performing — — — 54 41 24 — $119 Subtotal $553 $17,731 $5,533 $1,528 $681 $1,966 $0 $27,992 Consumer Motor Vehicle Performing $48,190 $170,684 $134,583 $50,638 $18,668 $8,085 $— $430,848 Non-performing — 259 613 176 91 53 — $1,192 Subtotal $48,190 $170,943 $135,196 $50,814 $18,759 $8,138 $— $432,040 Other Consumer Performing $2,941 $12,991 $6,934 $2,448 $794 $1,161 $4,023 $31,292 Non-performing 21 323 220 85 29 20 5 $703 Subtotal $2,962 $13,314 $7,154 $2,533 $823 $1,181 $4,028 $31,995 Total Performing $72,015 $296,724 $203,101 $82,783 $50,193 $164,134 $64,119 $933,069 Non-performing 21 582 857 374 347 2,543 5 $4,729 Total other loans $72,036 $297,306 $203,958 $83,157 $50,540 $166,677 $64,124 $937,798 December 31, 2021 Term Loans at Amortized Cost Basis by Origination Year Revolving 2021 2020 2019 2018 2017 Prior Loans Total Residential First Liens Performing $86,224 $49,633 $22,262 $24,377 $26,437 $126,828 $3,061 $338,822 Non-performing — — 35 69 160 2,421 — $2,685 Subtotal $86,224 $49,633 $22,297 $24,446 $26,597 $129,249 $3,061 $341,507 Home Equity Performing $757 $9 $152 $719 $62 $1,332 $59,059 $62,090 Non-performing — 25 — — 3 57 — $85 Subtotal $757 $34 $152 $719 $65 $1,389 $59,059 $62,175 Junior Liens Performing $13,255 $10,189 $8,124 $7,888 $4,158 $5,554 $968 $50,136 Non-performing — 6 64 97 119 94 — $380 Subtotal $13,255 $10,195 $8,188 $7,985 $4,277 $5,648 $968 $50,516 Other Residential Performing $20,218 $6,665 $1,697 $662 $883 $1,092 $0 $31,217 Non-performing — — 55 43 — 27 — $125 Subtotal $20,218 $6,665 $1,752 $705 $883 $1,119 $0 $31,342 Consumer Motor Vehicle Performing $188,675 $155,156 $60,676 $23,367 $9,307 $2,384 $— $439,565 Non-performing 199 373 191 109 43 23 — $938 Subtotal $188,874 $155,529 $60,867 $23,476 $9,350 $2,407 $— $440,503 Other Consumer Performing $14,924 $8,225 $3,119 $948 $304 $1,121 $4,194 $32,835 Non-performing 342 181 107 35 18 3 2 $688 Subtotal $15,266 $8,406 $3,226 $983 $322 $1,124 $4,196 $33,523 Total Performing $324,053 $229,877 $96,030 $57,961 $41,151 $138,311 $67,282 $954,665 Non-performing 541 585 452 353 343 2,625 2 $4,901 Total other loans $324,594 $230,462 $96,482 $58,314 $41,494 $140,936 $67,284 $959,566 |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2022 | |
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). March 31, 2022 Fair Value Measurements Using Significant (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 112,402 $ — $ 112,402 Mortgage Backed Securities-residential — 623,667 — 623,667 Mortgage Backed Securities-commercial — 11,444 — 11,444 Collateralized mortgage obligations — 201,976 — 201,976 State and municipal — 363,410 1,545 364,955 Municipal taxable — 35,697 — 35,697 U.S. Treasury — 2,076 — 2,076 Collateralized debt obligations — — 3,531 3,531 Other securities — 1,992 1,743 3,735 TOTAL $ — $ 1,352,664 $ 6,819 $ 1,359,483 Derivative Assets 884 Derivative Liabilities (884) December 31, 2021 Fair Value Measurements Using Significant (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 120,123 $ — $ 120,123 Mortgage Backed Securities-residential — 626,428 — 626,428 Mortgage Backed Securities-commercial — 15,671 — 15,671 Collateralized mortgage obligations — 175,005 — 175,005 State and municipal — 378,203 1,895 380,098 Municipal taxable — 38,626 — 38,626 U.S. Treasury — 204 — 204 Collateralized debt obligations — — 3,359 3,359 Other securities — 3,477 1,743 5,220 TOTAL $ — $ 1,357,737 $ 6,997 $ 1,364,734 Derivative Assets 1,030 Derivative Liabilities (1,030) There were no transfers between Level 1 and Level 2 during 2022 and 2021. 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 months ended March 31, 2022 and the year ended December 31, 2021. Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2022 (Dollar amounts in thousands) State and Collateralized Other securities Total Beginning balance, January 1 $ 1,895 $ 3,359 $ 1,743 $ 6,997 Total realized/unrealized gains or losses Included in earnings — — — — Included in other comprehensive income — 172 — 172 Transfers — — — — Settlements (350) — — (350) Ending balance, March 31 $ 1,545 $ 3,531 $ 1,743 $ 6,819 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Year Ended December 31, 2021 (Dollar amounts in thousands) State and Collateralized Other securities 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 — 223 — 223 Purchases — — 1,743 1,743 Settlements — — — — Ending balance, December 31 $ 1,895 $ 3,359 $ 1,743 $ 6,997 The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at March 31, 2022. (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 1,545 Discounted cash flow Discount rate 3.73%-4.44% Collateralized debt obligations $ 3,531 Discounted cash flow Discount rate 1.83% Other securities $ 1,743 Discounted cash flow Discount rate 0.65%-1.40% Collateral dependent loans $ 10,964 Discounted cash flow 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, 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% Collateralized debt obligations $ 3,359 Discounted cash flow Discount rate 1.83% Other securities $ 1,743 Discounted cash flow Discount rate 0.65%-1.40% Collateral dependent loans 12,839 Discounted cash flow 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 carrying amounts and estimated fair value of financial instruments at March 31, 2022 and December 31, 2021, 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. March 31, 2022 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 598,175 $ 25,661 $ 572,514 $ — $ 598,175 Federal funds sold 736 — 736 — 736 Securities available-for-sale 1,359,483 — 1,352,664 6,819 1,359,483 Restricted stock 15,547 n/a n/a n/a n/a Loans, net 2,764,134 — — 2,641,346 2,641,346 Accrued interest receivable 15,633 — 6,019 9,614 15,633 Deposits (4,395,190) — (4,403,416) — (4,403,416) Short-term borrowings (96,672) — (96,672) — (96,672) Other borrowings (15,924) — (15,920) — (15,920) Accrued interest payable (605) — (605) — (605) December 31, 2021 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 682,807 $ 24,901 $ 657,906 $ — $ 682,807 Federal funds sold 308 — 308 — 308 Securities available-for-sale 1,364,734 — 1,357,737 6,997 1,364,734 Restricted stock 16,200 n/a n/a n/a n/a Loans, net 2,767,590 — — 2,682,257 2,682,257 Accrued interest receivable 16,946 — 4,709 12,237 16,946 Deposits (4,409,569) — (4,418,117) — (4,418,117) Short-term borrowings (93,374) — (93,374) — (93,374) Other borrowings (15,937) — (16,483) — (16,483) Accrued interest payable (687) — (687) — (687) |
Short-Term Borrowings
Short-Term Borrowings | 3 Months Ended |
Mar. 31, 2022 | |
Short-term Debt [Abstract] | |
Short-Term Borrowings | Short-Term Borrowings Period–end short-term borrowings were comprised of the following: (Dollar amounts in thousands) March 31, 2022 December 31, 2021 Federal Funds Purchased $ 4,800 $ 3,275 Repurchase Agreements 91,872 90,099 $ 96,672 $ 93,374 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: March 31, 2022 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 $ 86,007 $ — $ 415 $ 5,450 $ 91,872 December 31, 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 $ 83,576 $ — $ 5,816 $ 707 $ 90,099 |
Components of Net Periodic Bene
Components of Net Periodic Benefit Cost | 3 Months Ended |
Mar. 31, 2022 | |
Retirement Benefits [Abstract] | |
Components of Net Periodic Benefit Cost | Components of Net Periodic Benefit Cost Three Months Ended March 31, (Dollar amounts in thousands) Pension Benefits Post-Retirement 2022 2021 2022 2021 Service cost $ 297 $ 339 $ 8 $ 11 Interest cost 706 658 28 26 Expected return on plan assets (1,227) (1,178) — — Net amortization of prior service cost — — — — Net amortization of net (gain) loss 315 518 — — Net Periodic Benefit Cost $ 91 $ 337 $ 36 $ 37 Employer Contributions First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2021 that it expected to contribute $250 thousand and $703 thousand respectively to its Pension Plan and ESOP and $248 thousand to the Post Retirement Health Benefits Plan in 2022. Contributions of $32 thousand have been made to the Pension Plan thus far in 2022. Contributions of $57 thousand have been made through the first three months of 2022 for the Post Retirement Health Benefits plan. No contributions have been made in 2022 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 three months of 2022 and 2021 there has been $849 thousand and $552 thousand of expense accrued for potential contributions to these alternative retirement benefit options. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2022 | |
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 months ended March 31, 2022 and 2021. Unrealized gains and 2022 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ 15,674 $ (18,100) $ (2,426) Change in other comprehensive income (loss) before reclassification (68,910) — (68,910) Amounts reclassified from accumulated other comprehensive income (4) 315 311 Net current period other comprehensive income (loss) (68,914) 315 (68,599) Ending balance, March 31, $ (53,240) $ (17,785) $ (71,025) 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 (11,182) — (11,182) Amounts reclassified from accumulated other comprehensive income 114 472 586 Net current period other comprehensive income (loss) (11,068) 472 (10,596) Ending balance, March 31, $ 23,094 $ (23,926) $ (832) Balance Current Balance (Dollar amounts in thousands) 1/1/2022 Change 3/31/2022 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 13,155 $ (69,043) $ (55,888) Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,519 129 2,648 Total unrealized loss on securities available-for-sale $ 15,674 $ (68,914) $ (53,240) Unrealized gain (loss) on retirement plans (18,100) 315 (17,785) TOTAL $ (2,426) $ (68,599) $ (71,025) Balance Current Balance (Dollar amounts in thousands) 1/1/2021 Change 3/31/2021 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 31,810 $ (11,212) $ 20,598 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,352 144 2,496 Total unrealized gain (loss) on securities available-for-sale $ 34,162 $ (11,068) $ 23,094 Unrealized loss on retirement plans (24,398) 472 (23,926) TOTAL $ 9,764 $ (10,596) $ (832) Three Months Ended March 31, 2022 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 $ (420) (a) Salary and benefits retirement plan items 105 Income tax expense $ (315) Net of tax Total reclassifications for the period $ (311) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). Three Months Ended March 31, 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 $ (152) Net securities gains (losses) on available-for-sale 38 Income tax expense securities $ (114) Net of tax Amortization of $ (518) (a) Salary and benefits retirement plan items 46 Income tax expense $ (472) Net of tax Total reclassifications for the period $ (586) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
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 March 31. Allowance for Credit Losses: March 31, 2022 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 18,883 $ 18,316 $ 10,721 $ 385 $ 48,305 Provision for credit losses (1,040) (5,144) (300) (66) (6,550) Loans charged-off (883) (466) (1,905) — (3,254) Recoveries 340 529 1,146 — 2,015 Ending Balance $ 17,300 $ 13,235 $ 9,662 $ 319 $ 40,516 Allowance for Credit Losses: March 31, 2021 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 13,925 $ 19,142 $ 11,009 $ — $ 44,076 Provision for credit losses (478) (262) 1,028 164 452 Loans charged-off (186) (188) (1,964) — (2,338) Recoveries 478 147 985 — 1,610 Ending Balance $ 13,739 $ 18,839 $ 11,058 $ 164 $ 43,800 |
Schedule of non-performing loans | The tables below present the recorded investment in non-performing loans by class of loans. March 31, 2022 Loans Past Nonaccrual (Dollar amounts in thousands) Accruing Nonaccrual For Credit Loss Commercial Commercial & Industrial $ 4 $ 689 $ 352 Farmland — 15 — Non Farm, Non Residential — 2,717 2,703 Agriculture — 84 — All Other Commercial — 4 — Residential First Liens 279 2,036 18 Home Equity — 66 — Junior Liens 89 244 — Multifamily — 211 — All Other Residential — 101 — Consumer Motor Vehicle 362 863 — All Other Consumer 13 682 — TOTAL $ 747 $ 7,712 $ 3,073 December 31, 2021 Loans Past Nonaccrual (Dollar amounts in thousands) Accruing Nonaccrual For Credit Loss Commercial Commercial & Industrial $ 14 $ 1,950 $ 1,662 Farmland — 15 — Non Farm, Non Residential — 2,911 2,898 Agriculture — 111 — All Other Commercial — 4 — Residential First Liens 346 2,339 33 Home Equity — 84 — Junior Liens 89 294 — Multifamily — 225 — All Other Residential — 107 — Consumer Motor Vehicle 94 864 — All Other Consumer — 686 — TOTAL $ 543 $ 9,590 $ 4,593 |
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. March 31, 2022 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 $ 1,086 $ 382 $ 227 $ 1,695 $ 705,981 $ 707,676 Farmland 94 205 — 299 134,430 134,729 Non Farm, Non Residential 48 — — 48 386,785 386,833 Agriculture — — 49 49 114,251 114,300 All Other Commercial 162 — — 162 364,273 364,435 Residential First Liens 3,628 446 747 4,821 329,788 334,609 Home Equity 233 57 38 328 60,287 60,615 Junior Liens 301 110 200 611 51,008 51,619 Multifamily 386 — — 386 161,473 161,859 All Other Residential 93 — — 93 27,978 28,071 Consumer Motor Vehicle 5,935 883 686 7,504 426,290 433,794 All Other Consumer 178 50 17 245 31,875 32,120 TOTAL $ 12,144 $ 2,133 $ 1,964 $ 16,241 $ 2,794,419 $ 2,810,660 December 31, 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 $ 1,132 $ 388 $ 1,614 $ 3,134 $ 693,949 $ 697,083 Farmland 57 — — 57 141,189 141,246 Non Farm, Non Residential 62 — — 62 361,174 361,236 Agriculture 90 42 89 221 141,682 141,903 All Other Commercial 390 — — 390 340,076 340,466 Residential First Liens 4,686 680 949 6,315 336,064 342,379 Home Equity 131 24 58 213 62,085 62,298 Junior Liens 179 120 283 582 50,048 50,630 Multifamily 342 146 — 488 178,849 179,337 All Other Residential 284 291 — 575 30,843 31,418 Consumer Motor Vehicle 7,633 1,105 486 9,224 433,095 442,319 All Other Consumer 192 37 — 229 33,425 33,654 TOTAL $ 15,178 $ 2,833 $ 3,479 $ 21,490 $ 2,802,479 $ 2,823,969 |
Troubled Debt Restructurings on Financing Receivables | During the three months ended March 31, 2022 and 2021, the terms of certain loans were modified as troubled debt restructurings (TDRs). The following tables present the activity for TDRs. 2022 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, $ 407 $ 3,686 $ 706 $ 4,799 Added — 27 68 95 Charged Off — — — — Payments — (268) (84) (352) March 31, $ 407 $ 3,445 $ 690 $ 4,542 2021 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, — 3,589 617 4,206 Added — 378 48 426 Charged Off — — (43) (43) Payments — (79) (46) (125) March 31, — 3,888 576 4,464 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of contractual maturities of debt securities | Contractual maturities of debt securities at March 31, 2022 were as follows. Available-for-Sale Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 17,169 $ 17,253 Due after one but within five years 47,121 46,898 Due after five but within ten years 82,626 81,719 Due after ten years 391,274 376,526 538,190 522,396 Mortgage-backed securities and collateralized mortgage obligations 891,328 837,087 TOTAL $ 1,429,518 $ 1,359,483 |
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 March 31, 2022 and December 31, 2021. March 31, 2022 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 $ 80,851 $ (4,056) $ 4,387 $ (466) $ 85,238 $ (4,522) Mortgage Backed Securities - Residential 420,840 (27,386) 174,550 (17,676) 595,390 (45,062) Mortgage Backed Securities - Commercial 5,206 (54) — — 5,206 (54) Collateralized mortgage obligations 158,532 (7,536) 21,506 (2,019) 180,038 (9,555) State and municipal obligations 167,005 (16,557) 5,557 (1,047) 172,562 (17,604) Municipal taxable 31,454 (2,439) 2,710 (338) 34,164 (2,777) U.S. Treasury 2,076 (7) — — 2,076 (7) Total temporarily impaired securities $ 865,964 $ (58,035) $ 208,710 $ (21,546) $ 1,074,674 $ (79,581) December 31, 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 $ 48,939 $ (739) $ 146 $ (2) $ 49,085 $ (741) Mortgage Backed Securities - Residential 436,726 (5,281) 60,807 (1,598) 497,533 (6,879) Collateralized mortgage obligations 73,530 (1,327) 12,505 (441) 86,035 (1,768) State and municipal obligations 54,040 (578) — — 54,040 (578) Municipal taxable 15,048 (195) 729 (20) 15,777 (215) U.S. Treasury 204 (1) — — 204 (1) Total temporarily impaired securities $ 628,487 $ (8,121) $ 74,187 $ (2,061) $ 702,674 $ (10,182) |
Rollforward of the credit losses recognized in earnings | The table below presents a rollforward of the credit losses recognized in earnings for the three month periods ended March 31, 2022 and 2021: Three Months Ended March 31, (Dollar amounts in thousands) 2022 2021 Beginning balance $ 2,974 $ 2,974 Reductions for securities called during the period — — Ending balance $ 2,974 $ 2,974 |
Debt Securities, Available-for-sale | All securities are classified as available-for-sale. March 31, 2022 (Dollar amounts in thousands) Amortized Unrealized Unrealized Fair Value U.S. Government agencies $ 116,581 $ 343 $ (4,522) $ 112,402 Mortgage Backed Securities - residential 668,331 398 (45,062) 623,667 Mortgage Backed Securities - commercial 11,490 8 (54) 11,444 Collateralized mortgage obligations 211,507 24 (9,555) 201,976 State and municipal obligations 377,351 5,208 (17,604) 364,955 Municipal taxable 38,440 34 (2,777) 35,697 U.S. Treasury 2,083 — (7) 2,076 Collateralized debt obligations — 3,531 — 3,531 Other securities 3,735 — — 3,735 TOTAL $ 1,429,518 $ 9,546 $ (79,581) $ 1,359,483 December 31, 2021 (Dollar amounts in thousands) Amortized Unrealized Unrealized Fair Value U.S. Government agencies $ 118,176 $ 2,688 $ (741) $ 120,123 Mortgage Backed Securities-residential 628,920 4,387 (6,879) 626,428 Mortgage Backed Securities-commercial 15,480 191 — 15,671 Collateralized mortgage obligations 175,501 1,272 (1,768) 175,005 State and municipal obligations 362,843 17,833 (578) 380,098 Municipal taxable 38,445 396 (215) 38,626 U.S. Treasury 205 — (1) 204 Collateralized debt obligations — 3,359 — 3,359 Other securities 5,220 — — 5,220 TOTAL $ 1,344,790 $ 30,126 $ (10,182) $ 1,364,734 |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
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). March 31, 2022 Fair Value Measurements Using Significant (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 112,402 $ — $ 112,402 Mortgage Backed Securities-residential — 623,667 — 623,667 Mortgage Backed Securities-commercial — 11,444 — 11,444 Collateralized mortgage obligations — 201,976 — 201,976 State and municipal — 363,410 1,545 364,955 Municipal taxable — 35,697 — 35,697 U.S. Treasury — 2,076 — 2,076 Collateralized debt obligations — — 3,531 3,531 Other securities — 1,992 1,743 3,735 TOTAL $ — $ 1,352,664 $ 6,819 $ 1,359,483 Derivative Assets 884 Derivative Liabilities (884) December 31, 2021 Fair Value Measurements Using Significant (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 120,123 $ — $ 120,123 Mortgage Backed Securities-residential — 626,428 — 626,428 Mortgage Backed Securities-commercial — 15,671 — 15,671 Collateralized mortgage obligations — 175,005 — 175,005 State and municipal — 378,203 1,895 380,098 Municipal taxable — 38,626 — 38,626 U.S. Treasury — 204 — 204 Collateralized debt obligations — — 3,359 3,359 Other securities — 3,477 1,743 5,220 TOTAL $ — $ 1,357,737 $ 6,997 $ 1,364,734 Derivative Assets 1,030 Derivative Liabilities (1,030) |
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 months ended March 31, 2022 and the year ended December 31, 2021. Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2022 (Dollar amounts in thousands) State and Collateralized Other securities Total Beginning balance, January 1 $ 1,895 $ 3,359 $ 1,743 $ 6,997 Total realized/unrealized gains or losses Included in earnings — — — — Included in other comprehensive income — 172 — 172 Transfers — — — — Settlements (350) — — (350) Ending balance, March 31 $ 1,545 $ 3,531 $ 1,743 $ 6,819 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Year Ended December 31, 2021 (Dollar amounts in thousands) State and Collateralized Other securities 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 — 223 — 223 Purchases — — 1,743 1,743 Settlements — — — — Ending balance, December 31 $ 1,895 $ 3,359 $ 1,743 $ 6,997 |
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 March 31, 2022. (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 1,545 Discounted cash flow Discount rate 3.73%-4.44% Collateralized debt obligations $ 3,531 Discounted cash flow Discount rate 1.83% Other securities $ 1,743 Discounted cash flow Discount rate 0.65%-1.40% Collateral dependent loans $ 10,964 Discounted cash flow 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, 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% Collateralized debt obligations $ 3,359 Discounted cash flow Discount rate 1.83% Other securities $ 1,743 Discounted cash flow Discount rate 0.65%-1.40% Collateral dependent loans 12,839 Discounted cash flow Discount rate for age of appraisal and market conditions 0.00%-50.00% |
Schedule of carrying amount and estimated fair value of financial instruments | The fair value of off-balance sheet items is not considered material. March 31, 2022 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 598,175 $ 25,661 $ 572,514 $ — $ 598,175 Federal funds sold 736 — 736 — 736 Securities available-for-sale 1,359,483 — 1,352,664 6,819 1,359,483 Restricted stock 15,547 n/a n/a n/a n/a Loans, net 2,764,134 — — 2,641,346 2,641,346 Accrued interest receivable 15,633 — 6,019 9,614 15,633 Deposits (4,395,190) — (4,403,416) — (4,403,416) Short-term borrowings (96,672) — (96,672) — (96,672) Other borrowings (15,924) — (15,920) — (15,920) Accrued interest payable (605) — (605) — (605) December 31, 2021 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 682,807 $ 24,901 $ 657,906 $ — $ 682,807 Federal funds sold 308 — 308 — 308 Securities available-for-sale 1,364,734 — 1,357,737 6,997 1,364,734 Restricted stock 16,200 n/a n/a n/a n/a Loans, net 2,767,590 — — 2,682,257 2,682,257 Accrued interest receivable 16,946 — 4,709 12,237 16,946 Deposits (4,409,569) — (4,418,117) — (4,418,117) Short-term borrowings (93,374) — (93,374) — (93,374) Other borrowings (15,937) — (16,483) — (16,483) Accrued interest payable (687) — (687) — (687) |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Short-term Debt [Abstract] | |
Schedule of short-term borrowings | Period–end short-term borrowings were comprised of the following: (Dollar amounts in thousands) March 31, 2022 December 31, 2021 Federal Funds Purchased $ 4,800 $ 3,275 Repurchase Agreements 91,872 90,099 $ 96,672 $ 93,374 |
Components of Net Periodic Be_2
Components of Net Periodic Benefit Cost (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Retirement Benefits [Abstract] | |
Schedule of Net Benefit Costs | Three Months Ended March 31, (Dollar amounts in thousands) Pension Benefits Post-Retirement 2022 2021 2022 2021 Service cost $ 297 $ 339 $ 8 $ 11 Interest cost 706 658 28 26 Expected return on plan assets (1,227) (1,178) — — Net amortization of prior service cost — — — — Net amortization of net (gain) loss 315 518 — — Net Periodic Benefit Cost $ 91 $ 337 $ 36 $ 37 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
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 months ended March 31, 2022 and 2021. Unrealized gains and 2022 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ 15,674 $ (18,100) $ (2,426) Change in other comprehensive income (loss) before reclassification (68,910) — (68,910) Amounts reclassified from accumulated other comprehensive income (4) 315 311 Net current period other comprehensive income (loss) (68,914) 315 (68,599) Ending balance, March 31, $ (53,240) $ (17,785) $ (71,025) 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 (11,182) — (11,182) Amounts reclassified from accumulated other comprehensive income 114 472 586 Net current period other comprehensive income (loss) (11,068) 472 (10,596) Ending balance, March 31, $ 23,094 $ (23,926) $ (832) |
Schedule Of Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment | Balance Current Balance (Dollar amounts in thousands) 1/1/2021 Change 3/31/2021 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 31,810 $ (11,212) $ 20,598 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,352 144 2,496 Total unrealized gain (loss) on securities available-for-sale $ 34,162 $ (11,068) $ 23,094 Unrealized loss on retirement plans (24,398) 472 (23,926) TOTAL $ 9,764 $ (10,596) $ (832) |
Accumulated Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent | Three Months Ended March 31, 2022 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 $ (420) (a) Salary and benefits retirement plan items 105 Income tax expense $ (315) Net of tax Total reclassifications for the period $ (311) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). Three Months Ended March 31, 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 $ (152) Net securities gains (losses) on available-for-sale 38 Income tax expense securities $ (114) Net of tax Amortization of $ (518) (a) Salary and benefits retirement plan items 46 Income tax expense $ (472) Net of tax Total reclassifications for the period $ (586) Net of tax |
Significant Accounting Polici_2
Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022USD ($)segmentshares | Mar. 31, 2021USD ($)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 | 18,679 | 21,159 |
Grant date value | $ | $ 847 | $ 885 |
Allowance for Loan Losses (Deta
Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | $ 48,305 | $ 44,076 |
Provision for loan losses | (6,550) | 452 |
Loans charged off | (3,254) | (2,338) |
Recoveries | 2,015 | 1,610 |
Ending Balance | 40,516 | 43,800 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 18,883 | 13,925 |
Provision for loan losses | (1,040) | (478) |
Loans charged off | (883) | (186) |
Recoveries | 340 | 478 |
Ending Balance | 17,300 | 13,739 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 18,316 | 19,142 |
Provision for loan losses | (5,144) | (262) |
Loans charged off | (466) | (188) |
Recoveries | 529 | 147 |
Ending Balance | 13,235 | 18,839 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 10,721 | 11,009 |
Provision for loan losses | (300) | 1,028 |
Loans charged off | (1,905) | (1,964) |
Recoveries | 1,146 | 985 |
Ending Balance | 9,662 | 11,058 |
Unallocated | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 385 | 0 |
Provision for loan losses | (66) | 164 |
Loans charged off | 0 | 0 |
Recoveries | 0 | 0 |
Ending Balance | $ 319 | $ 164 |
Allowance for Loan Losses (De_2
Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Ending Balance Attributable to Loans | ||||
Ending Balance | $ 40,516 | $ 48,305 | $ 43,800 | $ 44,076 |
Loans | ||||
Total | 2,810,660 | 2,823,969 | ||
Commercial Portfolio Segment [Member] | ||||
Ending Balance Attributable to Loans | ||||
Ending Balance | 17,300 | 18,883 | 13,739 | 13,925 |
Residential Portfolio Segment [Member] | ||||
Ending Balance Attributable to Loans | ||||
Ending Balance | 13,235 | 18,316 | 18,839 | 19,142 |
Consumer Portfolio Segment [Member] | ||||
Ending Balance Attributable to Loans | ||||
Ending Balance | 9,662 | 10,721 | 11,058 | 11,009 |
Unallocated | ||||
Ending Balance Attributable to Loans | ||||
Ending Balance | $ 319 | $ 385 | $ 164 | $ 0 |
Allowance for Loan Losses (De_3
Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Aging of recorded investment in loans by past due category and class of loans | ||||
Financing Receivable, Troubled Debt Restructuring | $ 4,542 | $ 4,799 | $ 4,464 | $ 4,206 |
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 | 747 | 543 | ||
Nonaccrual | 3,073 | 4,593 | ||
Financing Receivable, Modifications, Nonaccrual | 7,712 | 9,590 | ||
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 | 4 | 14 | ||
Nonaccrual | 352 | 1,662 | ||
Financing Receivable, Modifications, Nonaccrual | 689 | 1,950 | ||
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 | 0 | 0 | ||
Financing Receivable, Modifications, Nonaccrual | 15 | 15 | ||
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 | 2,703 | 2,898 | ||
Financing Receivable, Modifications, Nonaccrual | 2,717 | 2,911 | ||
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 | 0 | 0 | ||
Financing Receivable, Modifications, Nonaccrual | 84 | 111 | ||
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 | 0 | ||
Financing Receivable, Modifications, Nonaccrual | 4 | 4 | ||
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 | 279 | 346 | ||
Nonaccrual | 18 | 33 | ||
Financing Receivable, Modifications, Nonaccrual | 2,036 | 2,339 | ||
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 | 0 | 0 | ||
Nonaccrual | 0 | 0 | ||
Financing Receivable, Modifications, Nonaccrual | 66 | 84 | ||
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 | 89 | 89 | ||
Nonaccrual | 0 | 0 | ||
Financing Receivable, Modifications, Nonaccrual | 244 | 294 | ||
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 | 211 | 225 | ||
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 | 101 | 107 | ||
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 | 362 | 94 | ||
Nonaccrual | 0 | 0 | ||
Financing Receivable, Modifications, Nonaccrual | 863 | 864 | ||
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 | 13 | 0 | ||
Nonaccrual | 0 | 0 | ||
Financing Receivable, Modifications, Nonaccrual | $ 682 | $ 686 |
Allowance for Loan Losses (De_4
Allowance for Loan Losses (Details 4) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Beginning Balance | $ 4,799 | $ 4,206 |
Added | 95 | 426 |
Charged Off | 0 | (43) |
Payments | (352) | (125) |
Ending Balance | 4,542 | 4,464 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Beginning Balance | 407 | 0 |
Added | 0 | 0 |
Charged Off | 0 | 0 |
Payments | 0 | 0 |
Ending Balance | 407 | 0 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Beginning Balance | 3,686 | 3,589 |
Added | 27 | 378 |
Charged Off | 0 | 0 |
Payments | (268) | (79) |
Ending Balance | 3,445 | 3,888 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Beginning Balance | 706 | 617 |
Added | 68 | 48 |
Charged Off | 0 | (43) |
Payments | (84) | (46) |
Ending Balance | $ 690 | $ 576 |
Allowance for Loan Losses (De_5
Allowance for Loan Losses (Details 5) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Aging of recorded investment in loans by past due category and class of loans | ||
Total | $ 2,810,660 | $ 2,823,969 |
Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 707,676 | 697,083 |
Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 134,729 | 141,246 |
Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 386,833 | 361,236 |
Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 114,300 | 141,903 |
All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 364,435 | 340,466 |
First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 334,609 | 342,379 |
Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 60,615 | 62,298 |
Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 51,619 | 50,630 |
Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 161,859 | 179,337 |
All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 28,071 | 31,418 |
Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 433,794 | 442,319 |
All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total | 32,120 | 33,654 |
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 | 12,144 | 15,178 |
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 | 1,086 | 1,132 |
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 | 94 | 57 |
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 | 48 | 62 |
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 | 0 | 90 |
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 | 162 | 390 |
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 | 3,628 | 4,686 |
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 | 233 | 131 |
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 | 301 | 179 |
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 | 386 | 342 |
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 | 93 | 284 |
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 | 5,935 | 7,633 |
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 | 178 | 192 |
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 | 2,133 | 2,833 |
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 | 382 | 388 |
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 | 205 | 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 | 0 | 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 | 42 |
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 | 446 | 680 |
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 | 57 | 24 |
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 | 110 | 120 |
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 | 146 |
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 | 0 | 291 |
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 | 883 | 1,105 |
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 | 37 |
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 | 1,964 | 3,479 |
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 | 227 | 1,614 |
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 | 0 |
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 | 0 | 0 |
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 | 49 | 89 |
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 | 0 |
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 | 747 | 949 |
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 | 38 | 58 |
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 | 200 | 283 |
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 | 686 | 486 |
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 | 17 | 0 |
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 | 16,241 | 21,490 |
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 | 1,695 | 3,134 |
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 | 299 | 57 |
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 | 48 | 62 |
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 | 49 | 221 |
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 | 162 | 390 |
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 | 4,821 | 6,315 |
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 | 328 | 213 |
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 | 611 | 582 |
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 | 386 | 488 |
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 | 93 | 575 |
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 | 7,504 | 9,224 |
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 | 245 | 229 |
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 | 2,794,419 | 2,802,479 |
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 | 705,981 | 693,949 |
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 | 134,430 | 141,189 |
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 | 386,785 | 361,174 |
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 | 114,251 | 141,682 |
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 | 364,273 | 340,076 |
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 | 329,788 | 336,064 |
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 | 60,287 | 62,085 |
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 | 51,008 | 50,048 |
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 | 161,473 | 178,849 |
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 | 27,978 | 30,843 |
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 | 426,290 | 433,095 |
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 | $ 31,875 | $ 33,425 |
Allowance for Loan Losses (De_6
Allowance for Loan Losses (Details 6) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | $ 2,810,660 | $ 2,823,969 |
Total loans | 2,800,806 | 2,812,601 |
Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 707,676 | 697,083 |
Farmland | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 134,729 | 141,246 |
Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 386,833 | 361,236 |
Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 114,300 | 141,903 |
All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 364,435 | 340,466 |
First Liens | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 334,609 | 342,379 |
Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 60,615 | 62,298 |
Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 51,619 | 50,630 |
Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 161,859 | 179,337 |
All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 28,071 | 31,418 |
Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 433,794 | 442,319 |
All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | $ 32,120 | $ 33,654 |
Allowance for Loan Losses (De_7
Allowance for Loan Losses (Details Textual) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Allowance for loan losses | ||
Minimum outstanding balance of non-homogeneous loans to be individually evaluated as to credit risk | $ 100,000 | |
Nonperforming Financing Receivable [Member] | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 747,000 | $ 543,000 |
Nonaccrual | 3,073,000 | 4,593,000 |
Nonperforming Financing Receivable [Member] | Commercial & Industrial | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 4,000 | 14,000 |
Nonaccrual | 352,000 | 1,662,000 |
Nonperforming Financing Receivable [Member] | Farmland | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | Non Farm, Non Residential | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 2,703,000 | 2,898,000 |
Nonperforming Financing Receivable [Member] | Agriculture | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | All Other Commercial | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | First Liens | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 279,000 | 346,000 |
Nonaccrual | 18,000 | 33,000 |
Nonperforming Financing Receivable [Member] | Home Equity | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | Junior Liens | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 89,000 | 89,000 |
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 | 362,000 | 94,000 |
Nonaccrual | 0 | 0 |
Nonperforming Financing Receivable [Member] | All Other Consumer | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 13,000 | 0 |
Nonaccrual | $ 0 | $ 0 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | $ 1,429,518 | $ 1,344,790 |
Unrealized Gains | 9,546 | 30,126 |
Unrealized Losses | (79,581) | (10,182) |
Fair Value | 1,359,483 | 1,364,734 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 116,581 | 118,176 |
Unrealized Gains | 343 | 2,688 |
Unrealized Losses | (4,522) | (741) |
Fair Value | 112,402 | 120,123 |
Mortgage Backed Securities - Residential | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 668,331 | 628,920 |
Unrealized Gains | 398 | 4,387 |
Unrealized Losses | (45,062) | (6,879) |
Fair Value | 623,667 | 626,428 |
Mortgage Backed Securities - Commercial | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 11,490 | 15,480 |
Unrealized Gains | 8 | 191 |
Unrealized Losses | (54) | 0 |
Fair Value | 11,444 | 15,671 |
Collateralized Mortgage Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 211,507 | 175,501 |
Unrealized Gains | 24 | 1,272 |
Unrealized Losses | (9,555) | (1,768) |
Fair Value | 201,976 | 175,005 |
State and Municipal Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 377,351 | 362,843 |
Unrealized Gains | 5,208 | 17,833 |
Unrealized Losses | (17,604) | (578) |
Fair Value | 364,955 | 380,098 |
Taxable Municipal Bonds | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 38,440 | 38,445 |
Unrealized Gains | 34 | 396 |
Unrealized Losses | (2,777) | (215) |
Fair Value | 35,697 | 38,626 |
US Treasury Securities | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 2,083 | 205 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | (7) | (1) |
Fair Value | 2,076 | 204 |
Collateralized Debt Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 0 | 0 |
Unrealized Gains | 3,531 | 3,359 |
Unrealized Losses | 0 | 0 |
Fair Value | $ 3,531 | $ 3,359 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Amortized Cost | ||
Due in one year or less | $ 17,169 | |
Due after one but within five years | 47,121 | |
Due after five but within ten years | 82,626 | |
Due after ten years | 391,274 | |
Total of securities having specified maturity period | 538,190 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | 891,328 | |
TOTAL | 1,429,518 | $ 1,344,790 |
Fair Value | ||
Due in one year or less | 17,253 | |
Due after one but within five years | 46,898 | |
Due after five but within ten years | 81,719 | |
Due after ten years | 376,526 | |
Total of securities having specified maturities period | 522,396 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | 837,087 | |
Fair Value | $ 1,359,483 | $ 1,364,734 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Less Than 12 Months | ||
Fair Value | $ 865,964 | $ 628,487 |
Unrealized Losses | (58,035) | (8,121) |
More Than 12 Months | ||
Fair Value | 208,710 | 74,187 |
Unrealized Losses | 21,546 | 2,061 |
Total | ||
Fair Value | 1,074,674 | 702,674 |
Unrealized Losses | 79,581 | 10,182 |
US Government Agencies Debt Securities [Member] | ||
Less Than 12 Months | ||
Fair Value | 80,851 | 48,939 |
Unrealized Losses | (4,056) | (739) |
More Than 12 Months | ||
Fair Value | 4,387 | 146 |
Unrealized Losses | 466 | 2 |
Total | ||
Fair Value | 85,238 | 49,085 |
Unrealized Losses | 4,522 | 741 |
Mortgage Backed Securities - Residential | ||
Less Than 12 Months | ||
Fair Value | 420,840 | 436,726 |
Unrealized Losses | (27,386) | (5,281) |
More Than 12 Months | ||
Fair Value | 174,550 | 60,807 |
Unrealized Losses | 17,676 | 1,598 |
Total | ||
Fair Value | 595,390 | 497,533 |
Unrealized Losses | 45,062 | 6,879 |
Collateralized Mortgage Obligations | ||
Less Than 12 Months | ||
Fair Value | 158,532 | 73,530 |
Unrealized Losses | (7,536) | (1,327) |
More Than 12 Months | ||
Fair Value | 21,506 | 12,505 |
Unrealized Losses | 2,019 | 441 |
Total | ||
Fair Value | 180,038 | 86,035 |
Unrealized Losses | 9,555 | 1,768 |
State and Municipal Obligations | ||
Less Than 12 Months | ||
Fair Value | 167,005 | 54,040 |
Unrealized Losses | (16,557) | (578) |
More Than 12 Months | ||
Fair Value | 5,557 | 0 |
Unrealized Losses | 1,047 | 0 |
Total | ||
Fair Value | 172,562 | 54,040 |
Unrealized Losses | 17,604 | 578 |
Taxable Municipal Bonds | ||
Less Than 12 Months | ||
Fair Value | 31,454 | |
Unrealized Losses | (2,439) | |
More Than 12 Months | ||
Fair Value | 2,710 | |
Unrealized Losses | 338 | |
Total | ||
Fair Value | 34,164 | |
Unrealized Losses | 2,777 | |
US Treasury Securities | ||
Less Than 12 Months | ||
Fair Value | 2,076 | 204 |
Unrealized Losses | (7) | (1) |
More Than 12 Months | ||
Fair Value | 0 | 0 |
Unrealized Losses | 0 | 0 |
Total | ||
Fair Value | 2,076 | 204 |
Unrealized Losses | $ 7 | $ 1 |
Securities (Details 3)
Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Rollforward of the credit losses recognized in earnings | ||
Beginning balance | $ 2,974 | $ 2,974 |
Amounts realized for securities sold during the period | 0 | 0 |
Ending balance | $ 2,974 | $ 2,974 |
Securities (Details Textual)
Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
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 | Mar. 31, 2022 | Dec. 31, 2021 |
Fair value measurement | ||
Securities, available-for-sale | $ 1,359,483 | $ 1,364,734 |
US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities, available-for-sale | 112,402 | 120,123 |
Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities, available-for-sale | 623,667 | 626,428 |
Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities, available-for-sale | 11,444 | 15,671 |
Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 201,976 | 175,005 |
State and Municipal Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 364,955 | 380,098 |
Taxable Municipal Bonds | ||
Fair value measurement | ||
Securities, available-for-sale | 35,697 | 38,626 |
US Treasury Securities | ||
Fair value measurement | ||
Securities, available-for-sale | 2,076 | 204 |
Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 3,531 | 3,359 |
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 | 1,352,664 | 1,357,737 |
Derivative Assets | 884 | 1,030 |
Derivative Liability | (884) | (1,030) |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities, available-for-sale | 112,402 | 120,123 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities, available-for-sale | 623,667 | 626,428 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities, available-for-sale | 11,444 | 15,671 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 201,976 | 175,005 |
Fair Value, Inputs, Level 2 [Member] | State and Municipal Obligations | ||
Fair value measurement | ||
Securities, available-for-sale | 363,410 | 378,203 |
Fair Value, Inputs, Level 2 [Member] | Taxable Municipal Bonds | ||
Fair value measurement | ||
Securities, available-for-sale | 35,697 | 38,626 |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities | ||
Fair value measurement | ||
Securities, available-for-sale | 2,076 | 204 |
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 | 6,819 | 6,997 |
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 | 1,545 | 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 | $ 3,531 | $ 3,359 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Mar. 31, 2022 | Jun. 30, 2021 | |
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 | $ 6,997 | $ 5,031 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | 172 | 223 |
Transfers | 0 | |
Purchases | 1,743 | |
Settlements | (350) | 0 |
Ending balance | 6,819 | |
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 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | 0 | 0 |
Transfers | 0 | |
Purchases | 0 | |
Settlements | (350) | 0 |
Ending balance | 1,545 | |
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 | 3,359 | 3,136 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | 172 | 223 |
Transfers | 0 | |
Purchases | 0 | |
Settlements | 0 | $ 0 |
Ending balance | $ 3,531 |
Fair Value (Details 2)
Fair Value (Details 2) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
State and Municipal Obligations | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Fair Value | $ 1,545 | $ 1,895 |
Unobservable Inputs | Discount rate | Discount rate |
Impaired Loans | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Fair Value | $ 10,964 | $ 12,839 |
Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Carrying amount and estimated fair value of financial instruments | ||
Securities, available-for-sale | $ 1,359,483 | $ 1,364,734 |
Restricted Investments | 15,547 | 16,200 |
Accrued interest receivable | 15,633 | 16,946 |
Deposits | (4,395,190) | (4,409,569) |
Fair Value, Inputs, Level 1 [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 25,661 | 24,901 |
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 | 572,514 | 657,906 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 736 | 308 |
Securities, available-for-sale | 1,352,664 | 1,357,737 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest receivable | 6,019 | 4,709 |
Deposits | (4,403,416) | (4,418,117) |
Short-term borrowings | (96,672) | (93,374) |
Other borrowings | (15,920) | (16,483) |
Accrued interest payable | (605) | (687) |
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 | 6,819 | 6,997 |
Loans Receivable, Fair Value Disclosure | 2,641,346 | 2,682,257 |
Accrued interest receivable | 9,614 | 12,237 |
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 | 598,175 | 682,807 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 736 | 308 |
Securities, available-for-sale | 1,359,483 | 1,364,734 |
Restricted Investments | 15,547 | 16,200 |
Loans Receivable, Fair Value Disclosure | 2,764,134 | 2,767,590 |
Accrued interest receivable | 15,633 | 16,946 |
Deposits | (4,395,190) | (4,409,569) |
Short-term borrowings | (96,672) | (93,374) |
Other borrowings | (15,924) | (15,937) |
Accrued interest payable | (605) | (687) |
Estimate of Fair Value Measurement [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 598,175 | 682,807 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 736 | 308 |
Securities, available-for-sale | 1,359,483 | 1,364,734 |
Loans Receivable, Fair Value Disclosure | 2,641,346 | 2,682,257 |
Accrued interest receivable | 15,633 | 16,946 |
Deposits | (4,403,416) | (4,418,117) |
Short-term borrowings | (96,672) | (93,374) |
Other borrowings | (15,920) | (16,483) |
Accrued interest payable | $ (605) | $ (687) |
Fair Value (Details Textual)
Fair Value (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022USD ($) | Dec. 31, 2021USD ($) | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other real estate owned | $ 236 | $ 108 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value | $ 10,964 | $ 12,839 |
Fair Value Measurements Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions |
Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value | $ 3,531 | $ 3,359 |
Fair Value Measurements Unobservable Inputs | Discount rate | Discount rate |
State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value | $ 1,545 | $ 1,895 |
Fair Value Measurements Unobservable Inputs | Discount rate | Discount rate |
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 | Mar. 31, 2022 | Dec. 31, 2021 |
Short-term Debt [Abstract] | ||
Federal Funds Purchased | $ 4,800 | $ 3,275 |
Securities Sold under Agreements to Repurchase | 91,872 | 90,099 |
Short-term borrowings | $ 96,672 | $ 93,374 |
Short-Term Borrowings Short-Ter
Short-Term Borrowings Short-Term Borrowings (Details 1) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 91,872 | $ 90,099 |
Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 86,007 | 83,576 |
Maturity up to 30 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 0 |
Maturity 30 to 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 415 | 5,816 |
Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 5,450 | $ 707 |
Components of Net Periodic Be_3
Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 250 | ||
Post-Retirement Health Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 248 | ||
Service cost | $ 8 | $ 11 | |
Interest cost | 28 | 26 | |
Expected return on plan assets | 0 | 0 | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 | |
Net amortization of net (gain) loss | 0 | 0 | |
Net Periodic Benefit Cost | 36 | 37 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 57 | ||
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 297 | 339 | |
Interest cost | 706 | 658 | |
Expected return on plan assets | (1,227) | (1,178) | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 | |
Net amortization of net (gain) loss | 315 | 518 | |
Net Periodic Benefit Cost | 91 | $ 337 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 32 |
Components of Net Periodic Be_4
Components of Net Periodic Benefit Cost (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 250 | ||
Defined Benefit Plan, Expected Future Benefit Payment, Remainder of Fiscal Year | 703 | ||
Defined Contribution Plan Employer Accrued Discretionary Contribution Amount | $ 849 | $ 552 | |
Post Retirement Health Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 248 | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 57 | ||
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 32 |
Acquisitions and FDIC Indemnifi
Acquisitions and FDIC Indemnification Asset (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Business Acquisition [Line Items] | ||
Assets | $ 5,098,588 | $ 5,175,099 |
Goodwill | $ 86,135 | $ 86,135 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | $ (68,599) | $ (10,596) |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | (68,910) | (11,182) |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | 311 | 586 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | (68,599) | (10,596) |
TOTAL Balance | (2,426) | 9,764 |
TOTAL Balance | (71,025) | (832) |
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 | (68,914) | (11,068) |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | (68,910) | (11,182) |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | (4) | 114 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | (68,914) | (11,068) |
TOTAL Balance | 15,674 | 34,162 |
TOTAL Balance | (53,240) | 23,094 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 315 | 472 |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | 0 | 0 |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | 315 | 472 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | 315 | 472 |
TOTAL Balance | (18,100) | (24,398) |
TOTAL Balance | $ (17,785) | $ (23,926) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other Comprehensive Income (Loss), Net of Tax, Footnote | $ (68,599) | |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | (68,910) | $ (11,182) |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | (68,599) | (10,596) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 311 | 586 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
TOTAL Balance | (71,025) | (832) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (68,599) | (10,596) |
TOTAL Balance | (2,426) | 9,764 |
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 | (68,910) | (11,182) |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | (68,914) | (11,068) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (4) | 114 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
TOTAL Balance | (53,240) | 23,094 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (68,914) | (11,068) |
TOTAL Balance | 15,674 | 34,162 |
Unrealized gains losses on securities available-for-sale with other than temporary impairment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
TOTAL Balance | 2,648 | 2,496 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 129 | 144 |
TOTAL Balance | 2,519 | 2,352 |
Unrealized gains losses on securities available-for-sale without other than temporary impairment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
TOTAL Balance | (55,888) | 20,598 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (69,043) | (11,212) |
TOTAL Balance | 13,155 | 31,810 |
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 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 315 | 472 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 315 | 472 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
TOTAL Balance | (17,785) | (23,926) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 315 | 472 |
TOTAL Balance | $ (18,100) | $ (24,398) |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||
Net securities gains (losses) | $ 5 | $ (152) |
Income tax expense | (5,831) | (3,239) |
Net Income | 20,924 | 12,877 |
Change in funded status of post retirement benefits | 315 | 472 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||
Net Income | (311) | (586) |
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 | (152) |
Income tax expense | (1) | 38 |
Net Income | 4 | (114) |
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 | 105 | 46 |
Net Income | (315) | (472) |
Change in funded status of post retirement benefits | $ (420) | $ (518) |