Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 28, 2021 | |
Document And Entity Information | ||
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2021 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 0-13358 | |
Entity Registrant Name | Capital City Bank Group, Inc. | |
Entity Incorporation State Country Code | FL | |
Entity Tax Identification Number | 59-2273542 | |
Address Line 1 | 217 North Monroe Street | |
Name of the City or Town | Tallahassee | |
Name of the state or province | FL | |
Code for the postal or zip code | 32301 | |
City Area Code | 850 | |
Local Phone Number | 402-7821 | |
Security 12b Title | Common Stock, Par value $0.01 | |
Trading Symbol | CCBG | |
Security Exchange Name | NASDAQ | |
Entity's Reporting Status Current | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,878,303 | |
Entity Central Index Key | 0000726601 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and Due From Banks | $ 73,132,000 | $ 67,919,000 |
Funds Sold | 708,988,000 | 860,630,000 |
Total Cash and Cash Equivalents | 782,120,000 | 928,549,000 |
Available-for-sale Securities, Debt Securities | 645,844,000 | 324,870,000 |
Investment Securities, Held to Maturity (fair value of $344,285 and $175,175) | 341,228,000 | 169,939,000 |
Total Investment Securities | 987,072,000 | 494,809,000 |
Loans held for sale, at fair value | 77,036,000 | 114,039,000 |
Loans Held for Investment | 1,941,425,000 | 2,006,426,000 |
Allowance for Credit Losses | (21,500,000) | (23,816,000) |
Loans Held for Investment, Net | 1,919,925,000 | 1,982,610,000 |
Premises and Equipment, Net | 84,750,000 | 86,791,000 |
Goodwill and Other Intangibles | 93,293,000 | 89,095,000 |
Other Real Estate Owned | 192,000 | 808,000 |
Other assets | 104,345,000 | 101,370,000 |
Total Assets | 4,048,733,000 | 3,798,071,000 |
Deposits: | ||
Noninterest Bearing Deposits | 1,592,345,000 | 1,328,809,000 |
Interest Bearing Deposits | 1,873,617,000 | 1,888,751,000 |
Total Deposits | 3,465,962,000 | 3,217,560,000 |
Short-Term Borrowings | 51,410,000 | 79,654,000 |
Subordinated Notes Payable | 52,887,000 | 52,887,000 |
Other Long-Term Borrowings | 1,610,000 | 3,057,000 |
Other liabilities | 113,720,000 | 102,076,000 |
Total Liabilities | 3,685,589,000 | 3,455,234,000 |
Temporary Equity | 14,276,000 | 22,000,000 |
SHAREOWNERS' EQUITY | ||
Preferred Stock, $.$0.01 par value; 3,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common Stock, $0.01 par value; 90,000,000 shares authorized; 16,878,303 and 16,790,573 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively | 169,000 | 168,000 |
Additional Paid-In Capital | 33,876,000 | 32,283,000 |
Retained Earnings | 359,550,000 | 332,528,000 |
Accumulated Other Comprehensive Loss, Net of Tax | (44,727,000) | (44,142,000) |
Total Shareowners' Equity | 348,868,000 | 320,837,000 |
Total Liabilities, Temporary Equity, and Shareowners' Equity | $ 4,048,733,000 | $ 3,798,071,000 |
CONSOLIDATED STATEMENTS OF FI_2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Investment securities, held to maturity, fair value | $ 344,285 | $ 175,175 |
Preferred Stock, par value (in dollar per share) | $ 0.01 | $ 0.01 |
Preferred Stock, shares authorized | 3,000,000 | 3,000,000 |
Preferred Stock, shares outstanding | 0 | 0 |
Preferred Stock, shares issued | 0 | 0 |
Common Stock, par value (in dollar per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized | 90,000,000 | 90,000,000 |
Common Stock, shares issued | 16,878,303 | 16,790,573 |
Common Stock, shares outstanding | 16,878,303 | 16,790,573 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
INTEREST INCOME | ||||
Loans, including Fees | $ 25,885 | $ 23,594 | $ 73,817 | $ 70,874 |
Investment Securities: | ||||
Taxable | 2,332 | 2,400 | 6,231 | 8,105 |
Tax Exempt | 18 | 26 | 56 | 73 |
Funds Sold | 285 | 146 | 698 | 991 |
Total Interest Income | 28,520 | 26,166 | 80,802 | 80,043 |
INTEREST EXPENSE | ||||
Deposits | 210 | 190 | 626 | 1,347 |
Short-Term Borrowings | 317 | 498 | 1,053 | 1,051 |
Subordinated Notes Payable | 307 | 316 | 922 | 1,161 |
Other Long-Term Borrowings | 14 | 40 | 51 | 131 |
Total Interest Expense | 848 | 1,044 | 2,652 | 3,690 |
NET INTEREST INCOME | 27,672 | 25,122 | 78,150 | 76,353 |
Provision for Credit Losses | 0 | 1,308 | (1,553) | 8,303 |
Net Interest Income After Provision For Credit Losses | 27,672 | 23,814 | 79,703 | 68,050 |
NONINTEREST INCOME | ||||
Other | 1,807 | 1,469 | 5,277 | 4,374 |
Total Noninterest Income | 26,574 | 34,965 | 82,873 | 80,642 |
NONINTEREST EXPENSE | ||||
Compensation | 25,245 | 26,164 | 76,687 | 69,558 |
Occupancy, Net | 6,032 | 5,906 | 17,972 | 16,683 |
Other Real Estate Owned, Net | (1,126) | 219 | (1,514) | (463) |
Pension Plan Settlement Charge | 500 | 0 | 2,500 | 0 |
Other | 9,051 | 8,053 | 26,656 | 22,836 |
Total Noninterest Expense | 39,702 | 40,342 | 122,301 | 108,614 |
INCOME BEFORE INCOME TAXES | 14,544 | 18,437 | 40,275 | 40,078 |
Income Tax Expense | 2,949 | 3,165 | 7,795 | 7,397 |
NET INCOME | 11,595 | 15,272 | 32,480 | 32,681 |
Pre-Tax Income Attributable to Noncontrolling Interests | (1,504) | (4,875) | (5,456) | (8,851) |
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 10,091 | $ 10,397 | $ 27,024 | $ 23,830 |
BASIC NET INCOME PER SHARE (in dollars per shares) | $ 0.60 | $ 0.62 | $ 1.60 | $ 1.42 |
DILUTED NET INCOME PER SHARE (in dollars per shares) | $ 0.60 | $ 0.62 | $ 1.60 | $ 1.42 |
Average Common Basic Shares Outstanding | 16,875 | 16,771 | 16,857 | 16,792 |
Average Common Diluted Shares Outstanding | 16,909 | 16,810 | 16,886 | 16,823 |
Deposit fees [Member] | ||||
NONINTEREST INCOME | ||||
Revenue, fees and commissions | $ 5,075 | $ 4,316 | $ 13,582 | $ 13,087 |
Bank card fees [Member] | ||||
NONINTEREST INCOME | ||||
Revenue, fees and commissions | 3,786 | 3,389 | 11,402 | 9,582 |
Wealth Management fees [Member] | ||||
NONINTEREST INCOME | ||||
Revenue, fees and commissions | 3,623 | 2,808 | 9,987 | 7,966 |
Mortgage banking [Member] | ||||
NONINTEREST INCOME | ||||
Revenue, fees and commissions | $ 12,283 | $ 22,983 | $ 42,625 | $ 45,633 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Comprehensive Income [Abstract] | ||||
NET INCOME | $ 10,091 | $ 10,397 | $ 27,024 | $ 23,830 |
Other comprehensive income, before tax: | ||||
Change in net unrealized gain (loss) on securities available for sale | (1,935) | (763) | (4,361) | 3,217 |
Change in net unrealized gain on effective cash flow derivative | 172 | 157 | 1,378 | 52 |
Benefit Plans: | ||||
Reclassification adjustment for amortization of prior year service cost | 0 | 0 | 24 | 0 |
Actuarial gain | 0 | 0 | 166 | 0 |
Defined benefit plan settlement | 0 | 0 | 2,000 | 0 |
Total Benefit Plans | 0 | 0 | 2,190 | 0 |
Other comprehensive (loss) income, before tax | (1,763) | (606) | (793) | 3,269 |
Deferred tax (benefit) expense related to other comprehensive income | (459) | (149) | (208) | 801 |
Other comprehensive (loss) income, net of tax | (1,304) | (457) | (585) | 2,468 |
TOTAL COMPREHENSIVE INCOME | $ 8,787 | $ 9,940 | $ 26,439 | $ 26,298 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income, Net of Taxes [Member] | |
Balance at Dec. 31, 2019 | $ 327,016 | $ 168 | $ 32,092 | $ 322,937 | $ (28,181) | |
Balance (Adoption of ASC 326 [Member]) at Dec. 31, 2019 | (3,095) | $ 0 | 0 | (3,095) | 0 | |
Balance (in shares) at Dec. 31, 2019 | 16,771,544 | |||||
Net Income | 23,830 | $ 0 | 0 | 23,830 | 0 | |
Reclassification to Temporary Equity | (3,075) | 0 | 0 | (3,075) | 0 | |
Other Comprehensive Loss, net of tax | 2,468 | 0 | 0 | 0 | 2,468 | |
Cash Dividends ($0.1600 and $0.1400) per share for quarters September 2021 and 2020 respectively ($0.4600 and $0.4200) YTD September 2021 and 2020 respectively | (7,052) | 0 | 0 | (7,052) | 0 | |
Repurchase of Common Stock | (2,043) | $ (1) | (2,042) | 0 | 0 | |
Repurchase of Common Stock (in shares) | (99,952) | |||||
Stock Based Compensation | 610 | $ 0 | 610 | 0 | 0 | |
Stock Compensation Plan Transactions, net | 766 | $ 1 | 765 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 89,872 | |||||
Balance at Sep. 30, 2020 | 339,425 | $ 168 | 31,425 | 333,545 | (25,713) | |
Balance, Shares at Sep. 30, 2020 | 16,761,464 | |||||
Balance at Jun. 30, 2020 | 335,057 | $ 168 | 31,575 | 328,570 | (25,256) | |
Balance (in shares) at Jun. 30, 2020 | 16,780,276 | |||||
Net Income | 10,397 | $ 0 | 0 | 10,397 | 0 | |
Reclassification to Temporary Equity | (3,075) | 0 | 0 | (3,075) | 0 | |
Other Comprehensive Loss, net of tax | (457) | 0 | 0 | 0 | (457) | |
Cash Dividends ($0.1600 and $0.1400) per share for quarters September 2021 and 2020 respectively ($0.4600 and $0.4200) YTD September 2021 and 2020 respectively | (2,347) | 0 | 0 | (2,347) | 0 | |
Repurchase of Common Stock | (472) | $ 0 | (472) | 0 | 0 | |
Repurchase of Common Stock (in shares) | (23,000) | |||||
Stock Based Compensation | 242 | $ 0 | 242 | 0 | 0 | |
Stock Compensation Plan Transactions, net | 80 | $ 0 | 80 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 4,188 | |||||
Balance at Sep. 30, 2020 | 339,425 | $ 168 | 31,425 | 333,545 | (25,713) | |
Balance, Shares at Sep. 30, 2020 | 16,761,464 | |||||
Balance at Dec. 31, 2020 | $ 320,837 | $ 168 | 32,283 | 332,528 | (44,142) | |
Balance (in shares) at Dec. 31, 2020 | 16,790,573 | |||||
Net Income | $ 27,024 | 0 | 0 | 27,024 | 0 | |
Reclassification to Temporary Equity | [1] | 7,756 | 0 | 0 | 7,756 | 0 |
Other Comprehensive Loss, net of tax | (585) | 0 | 0 | 0 | (585) | |
Cash Dividends ($0.1600 and $0.1400) per share for quarters September 2021 and 2020 respectively ($0.4600 and $0.4200) YTD September 2021 and 2020 respectively | (7,758) | 0 | 0 | (7,758) | 0 | |
Stock Based Compensation | 657 | 0 | 657 | 0 | 0 | |
Stock Compensation Plan Transactions, net | 937 | $ 1 | 936 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 87,730 | |||||
Balance at Sep. 30, 2021 | $ 348,868 | $ 169 | 33,876 | 359,550 | (44,727) | |
Balance, Shares at Sep. 30, 2021 | 16,878,303 | 16,878,303 | ||||
Balance at Jun. 30, 2021 | $ 335,880 | $ 169 | 33,560 | 345,574 | (43,423) | |
Balance (in shares) at Jun. 30, 2021 | 16,874,279 | |||||
Net Income | 10,091 | $ 0 | 0 | 10,091 | 0 | |
Reclassification to Temporary Equity | [1] | 6,585 | 0 | 0 | 6,585 | 0 |
Other Comprehensive Loss, net of tax | (1,304) | 0 | 0 | 0 | (1,304) | |
Cash Dividends ($0.1600 and $0.1400) per share for quarters September 2021 and 2020 respectively ($0.4600 and $0.4200) YTD September 2021 and 2020 respectively | (2,700) | 0 | 0 | (2,700) | 0 | |
Repurchase of Common Stock | 0 | $ 0 | 0 | 0 | 0 | |
Repurchase of Common Stock (in shares) | 0 | |||||
Stock Based Compensation | 219 | $ 0 | 219 | 0 | 0 | |
Stock Compensation Plan Transactions, net | 97 | $ 0 | 97 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 4,024 | |||||
Balance at Sep. 30, 2021 | $ 348,868 | $ 169 | $ 33,876 | $ 359,550 | $ (44,727) | |
Balance, Shares at Sep. 30, 2021 | 16,878,303 | 16,878,303 | ||||
[1] | Adjustment to redemption value for non-controlling |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash Dividends (in dollars per share) | $ 0.1600 | $ 0.1400 | $ 0.4600 | $ 0.4200 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ 27,024 | $ 23,830 |
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities: | ||
Provision for Credit Losses | (1,553) | 8,303 |
Depreciation | 5,666 | 5,174 |
Amortization of Premiums, Discounts and Fees, net | 11,401 | 5,256 |
Amortization of Intangible Asset | 80 | 0 |
Pension Plan Settlement Charge | 2,500 | 0 |
Originations of Loans Held-for-Sale | (1,247,119) | (561,609) |
Proceeds From Sales of Loans Held for Sale | 1,326,747 | 500,190 |
Net Gain From Sales of Loans Held-for-Sale | (42,625) | (45,633) |
Net Additions for Capitalized Mortgage Servicing Rights | 138 | 0 |
Change in Valuation Provision for Mortgage Servicing Rights | (250) | 0 |
Stock Compensation | 657 | 610 |
Net Tax Benefit From Stock-Based Compensation | (4) | (84) |
Deferred Income Taxes | (3,085) | (1,127) |
Net change in operating leases | (122) | 811 |
Net Gain on Sales and Write-Downs of Other Real Estate Owned | (1,640) | (876) |
Net Decrease (Increase) in Other Assets | 70 | (23,482) |
Net Increase in Other Liabilities | 8,283 | 32,808 |
Net Cash Provided By (Used In) Operating Activities | 86,168 | (55,829) |
Securities Held to Maturity: | ||
Purchases | (235,356) | (32,250) |
Payments, Maturities, and Calls | 61,673 | 67,245 |
Securities Available for Sale: | ||
Purchases | (478,000) | (77,775) |
Payments, Maturities, and Calls | 148,968 | 153,702 |
Purchases of Loans Held for Investment | (92,336) | (29,538) |
Net Decrease (Increase) in Loans Held for Investment | 150,590 | (134,416) |
Net Cash Paid For Brand Acquisition | (4,482) | (2,405) |
Proceeds From Sales of Other Real Estate Owned | 3,892 | 2,558 |
Purchases of Premises and Equipment | (4,590) | (7,842) |
Noncontrolling Interest Contributions | 5,424 | 2,091 |
Net Cash Used In Investing Activities | (444,217) | (58,630) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net Increase in Deposits | 248,402 | 363,992 |
Net (Decrease) Increase in Short-Term Borrowings | (28,458) | 84,438 |
Repayment of Other Long-Term Borrowings | (1,233) | (1,152) |
Dividends Paid | (7,758) | (7,052) |
Payments to Repurchase Common Stock | 0 | (2,043) |
Issuance of Common Stock Under Purchase Plans | 667 | 466 |
Net Cash Provided By Financing Activities | 211,620 | 438,649 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (146,429) | 324,190 |
Cash and Cash Equivalents at Beginning of Period | 928,549 | 378,423 |
Cash and Cash Equivalents at End of Period | 782,120 | 702,613 |
Supplemental Cash Flow Disclosures: | ||
Interest Paid | 2,679 | 3,673 |
Income Taxes Paid | 12,759 | 6,991 |
Noncash Investing and Financing Activities: | ||
Loans Transferred to Other Real Estate Owned | $ 1,636 | $ 1,956 |
BUSINESS AND BASIS OF PRESENTAT
BUSINESS AND BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2021 | |
Business and Basis of Presentation [Abstract] | |
Business and Basis of Presentation | NOTE 1 – BUSINESS AND BASIS OF PRESENTATION Nature of Operations . related services to individual and corporate clients through its subsidiary, Georgia, and Alabama. government agencies and undergoes periodic examinations Basis of Presentation . and its wholly owned subsidiary, have been eliminated. The accompanying unaudited consolidated financial statements have principles for interim financial information and with the instructions to Form they do not include all of the information and footnotes required by generally accepted statements. presentation have been included. The consolidated statement of financial condition at December 31, statements at that date, but does not include all of the information and footnotes for complete financial statements. included in the Company’s annual Acquisition. April 30, 2021 , a newly formed subsidiary of CCBG, Capital City Strategic Wealth, substantially all of the assets of Strategic Wealth and insurance carrier agreements, and the assignment of all related revenues SWG principles became officers of CCSW and will continue management services and comprehensive risk management CCBG paid $ 4.4 2.8 1.6 Accounting Standards Updates ASU 2020-04, "Reference Rate Reform (Topic ASU 2020-04 provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other transactions toward new interest rate benchmarks. For transactions that guidance (i) modifications of loan agreements should be accounted modification will be considered "minor" so that any existing unamortized be amortized and (ii) modifications of lease agreements should be accounted reassessments of the lease classification and the discount rate or re-measurements for modifications not accounted for as separate contracts. ASU 2020 accounting. contract modifications as of January 1, 2020, or prospectively from a March 12, 2020, up to the date that the financial statements are available to Subtopic within the Codification, the amendments in this ASU must be applied that Topic or Industry (yet to be determined) and December 31, 2022 that are directly related to continuation of the contract, rather than extinguishment of the old contract ASU 2021-01, “Reference Rate Reform (Topic clarifies that certain optional expedients and exceptions in ASC 848 for contract modifications and hedge accounting apply to derivatives that are amends the expedients and exceptions in ASC 848 to capture the incremental existing guidance to derivative instruments. ASU will have material effects on the Company’s |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 9 Months Ended |
Sep. 30, 2021 | |
Investments Securities [Abstract] | |
Investment securities | NOTE 2 – INVESTMENT SECURITIES Investment Portfolio Composition . The following table summarizes the amortized cost and related market value of investment securities available-for-sale and securities held-to-maturity and the corresponding September 30, 2021 December 31, 2020 Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market (Dollars in Thousands) Cost Gains Losses Value Cost Gain Losses Value Available for U.S. Government Treasury $ 164,806 $ 90 $ 849 $ 164,047 $ 103,547 $ 972 $ - $ 104,519 U.S. Government Agency 249,649 1,793 970 250,472 205,972 2,743 184 208,531 States and Political Subdivisions 43,834 69 357 43,546 3,543 89 - 3,632 Mortgage-Backed Securities (1) 97,131 240 164 97,207 456 59 - 515 Corporate Debt Securities 84,331 13 567 83,777 - - - - Equity Securities (2) 6,795 - - 6,795 7,673 - - 7,673 Total $ 646,546 $ 2,205 $ 2,907 $ 645,844 $ 321,191 $ 3,863 $ 184 $ 324,870 Held to Maturity U.S. Government Treasury $ 115,903 $ - $ 348 $ 115,555 $ 5,001 $ 13 $ - $ 5,014 Mortgage-Backed Securities 225,325 3,941 536 228,730 164,938 5,223 - 170,161 Total $ 341,228 $ 3,941 $ 884 $ 344,285 $ 169,939 $ 5,236 $ - $ 175,175 Total Investment $ 987,774 $ 6,146 $ 3,791 $ 990,129 $ 491,130 $ 9,099 $ 184 $ 500,045 (1) (2) Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded 2.0 4.8 respectively, $ 2.9 4.8 Securities with an amortized cost of $ 312.3 308.2 were pledged to secure public deposits and for other purposes. The Bank, as a member of the Federal Home Loan Bank of Atlanta (“FHLB”), is required generally upon the balances of residential and commercial real estate loans and equity securities, however, redemption of this stock has historically As a member of the Federal Reserve Bank of Atlanta, the Bank is required to maintain based on a specified ratio relative to the Bank’s Maturity Distribution . contractual maturity. prepay obligations. because they are not due at a certain maturity date. Available for Held to Maturity (Dollars in Thousands) Amortized Cost Market Value Amortized Cost Market Value Due in one year or less $ 39,614 $ 39,423 $ - $ - Due after one year through five years 264,747 263,661 115,903 115,555 Due after five year through ten years 66,347 65,614 - - Mortgage-Backed Securities 97,131 97,207 225,325 228,730 U.S. Government Agency 171,912 173,144 - - Equity Securities 6,795 6,795 - - Total $ 646,546 $ 645,844 $ 341,228 $ 344,285 Unrealized Losses on Investment Securities. unrealized losses aggregated by major security type and length of time in a continuous Less Than Greater Than 12 Months 12 Months Total Market Unrealized Market Unrealized Market Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses September 30, 2021 Available for U.S. Government Treasury $ 143,394 $ 849 $ - $ - $ 143,394 $ 849 U.S. Government Agency 118,969 859 12,168 111 131,137 970 States and Political Subdivisions 27,355 357 - - 27,355 357 Mortgage-Backed Securities 40,012 164 - - 40,012 164 Corporate Debt Securities 57,304 567 - - 57,304 567 Total 387,034 2,796 12,168 111 399,202 2,907 Held to Maturity U.S. Government Treasury 115,555 348 - - 115,555 348 Mortgage-Backed Securities 93,023 536 - - 93,023 536 Total $ 208,578 $ 884 $ - $ - $ 208,578 $ 884 December 31, 2020 Available for U.S. Government Agency $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 Total $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 At September 30, 2021, there were 288 $ 3.8 206 securities totaled 29 not credit quality. 53 securities were attributable to changes in interest rates. 16,000 September 30, 2021. Credit Quality Indicators The Company monitors the credit quality of its investment securities through monitoring of credit ratings. government entity or agency and are either explicitly or implicitly guaranteed long history of no credit losses on these securities indicates that the expectation even if the U.S. government were to technically default. refunded and secured by government guaranteed treasuries. assess or record expected credit losses due to the zero loss assumption. securities portfolio via credit ratings which are updated on a quarterly unrealized loss position are evaluated to determine if the loss is attributable to is needed. |
LOANS HELD FOR INVESTMENT AND A
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES | 9 Months Ended |
Sep. 30, 2021 | |
Loans Held For Investment And Allowance For Credit Losses [Abstract] | |
Loans held for investment and allowance for credit losses | NOTE 3 – LOANS HELD FOR INVESTMENT AND ALLOWANCE Loan Portfolio Composition . (Dollars in Thousands) September 30, 2021 December 31, 2020 Commercial, Financial and Agricultural $ 218,929 $ 393,930 Real Estate – Construction 177,443 135,831 Real Estate – Commercial Mortgage 683,379 648,393 Real Estate – Residential (1) 362,750 352,543 Real Estate – Home Equity 187,642 205,479 Consumer (2) 311,282 270,250 Loans HFI, Net of Unearned Income $ 1,941,425 $ 2,006,426 (1) Includes loans in process with outstanding balances 7.1 10.9 2020, (2) Includes overdraft balances of $ 1.3 0.7 Net deferred loan costs, which include premiums on purchased loans, 3.7 net deferred loan fees were $ 0.1 Accrued interest receivable on loans which is excluded from amortized 5.6 6.9 million at December 31, 2020, and is reported separately in Other Assets. The Company has pledged a blanket floating lien on all 1-4 family residential mortgage and home equity loans to support available borrowing capacity at the FHLB of consumer loans, commercial loans, and construction loans to support available Atlanta. Loan Purchase and Sales . loans from Capital City Home Loans (“CCHL”), a related party. 72.7 nine month period ended September 30, 2021, and were not credit impaired. Company acquired a pool of 10 17.4 credit impaired. The Company transferred $ 9.4 Allowance for Credit Losses . ASC 326 (“CECL”), which was adopted on January 1, 2020. component involving loans that do not share risk characteristics and the measurement loans; and second, a pooled component for expected credit losses for pools of allowance methodology is discussed further in Note 1 – Business and Company’s 2020 Form 10-K. The following table details the activity in the allowance for credit losses by allowance to one category of loans does not preclude its availability to Commercial, Real Estate Financial, Real Estate Commercial Real Estate Real Estate (Dollars in Thousands) Agricultural Construction Mortgage Residential Home Equity Consumer Total Three Months September 30, 2021 Beginning Balance $ 1,972 $ 2,759 $ 7,569 $ 4,353 $ 2,457 $ 3,065 $ 22,175 Provision for Credit Losses 178 517 (1,588) (433) (131) 911 (546) Charge-Offs (37) - (405) (17) (15) (1,314) (1,788) Recoveries 66 10 169 401 46 967 1,659 Net (Charge-Offs) Recoveries 29 10 (236) 384 31 (347) (129) Ending Balance $ 2,179 $ 3,286 $ 5,745 $ 4,304 $ 2,357 $ 3,629 $ 21,500 Nine Months Ended September 30, 2021 Beginning Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 Provision for Credit Losses (192) 797 (1,719) (1,768) (900) 740 (3,042) Charge-Offs (138) - (405) (88) (94) (3,040) (3,765) Recoveries 305 10 840 720 240 2,376 4,491 Net (Charge-Offs) Recoveries 167 10 435 632 146 (664) 726 Ending Balance $ 2,179 $ 3,286 $ 5,745 $ 4,304 $ 2,357 $ 3,629 $ 21,500 Three Months Ended September 30, 2020 Beginning Balance $ 2,468 $ 1,955 $ 6,640 $ 5,440 $ 2,753 $ 3,201 $ 22,457 Provision for Credit Losses (195) 161 616 (344) 196 831 1,265 Charge-Offs (137) - (17) (1) (58) (1,069) (1,282) Recoveries 74 - 30 35 41 517 697 Net Charge-Offs (63) - 13 34 (17) (552) (585) Ending Balance $ 2,210 $ 2,116 $ 7,269 $ 5,130 $ 2,932 $ 3,480 $ 23,137 Nine Months Ended September 30, 2020 Beginning Balance $ 1,675 $ 370 $ 3,416 $ 3,128 $ 2,224 $ 3,092 $ 13,905 Impact of Adopting ASC 326 488 302 1,458 1,243 374 (596) 3,269 Provision for Credit Losses 544 1,444 2,132 745 337 2,668 7,870 Charge-Offs (685) - (28) (112) (141) (3,810) (4,776) Recoveries 188 - 291 126 138 2,126 2,869 Net Charge-Offs (497) - 263 14 (3) (1,684) (1,907) Ending Balance $ 2,210 $ 2,116 $ 7,269 $ 5,130 $ 2,932 $ 3,480 $ 23,137 For the nine month period ended September 30, 2021, the allowance for 2.3 provision of $ 3.0 0.7 conditions (primarily a lower rate of unemployment and its potential effect strong net loan recoveries. weighted based on management’s various government sponsored loan programs, was also considered. the allowance for off-balance sheet credit commitments. Loan Portfolio Aging. A loan is defined as a past due loan when one full payment is past due or a contractual maturity past due (“DPD”). The following table presents the aging of the amortized cost basis in accruing 30-59 60-89 90 + Total Total Nonaccrual Total (Dollars in Thousands) DPD DPD DPD Past Due Current Loans Loans September 30, 2021 Commercial, Financial and Agricultural $ 499 $ 36 $ - $ 535 $ 218,353 $ 41 $ 218,929 Real Estate – Construction - - - - 177,443 - 177,443 Real Estate – Commercial Mortgage 364 - - 364 683,015 - 683,379 Real Estate – Residential 735 177 - 912 359,861 1,977 362,750 Real Estate – Home Equity 76 19 - 95 186,581 966 187,642 Consumer 1,196 258 - 1,454 309,786 42 311,282 Total $ 2,870 $ 490 $ - $ 3,360 $ 1,935,039 $ 3,026 $ 1,941,425 December 31, 2020 Commercial, Financial and Agricultural $ 194 $ 124 $ - $ 318 $ 393,451 $ 161 $ 393,930 Real Estate – Construction - 717 - 717 134,935 179 135,831 Real Estate – Commercial Mortgage 293 - - 293 646,688 1,412 648,393 Real Estate – Residential 375 530 - 905 348,508 3,130 352,543 Real Estate – Home Equity 325 138 - 463 204,321 695 205,479 Consumer 1,556 342 - 1,898 268,058 294 270,250 Total $ 2,743 $ 1,851 $ - $ 4,594 $ 1,995,961 $ 5,871 $ 2,006,426 Nonaccrual Loans . management deems the collectability of the principal and/or interest to principal and interest amounts contractually due are brought current The following table presents the amortized cost basis of loans in nonaccrual by class of loans. September 30, 2021 December 31, 2020 Nonaccrual Nonaccrual Nonaccrual Nonaccrual With With No 90 + Days With With No 90 + Days (Dollars in Thousands) ACL ACL Still Accruing ACL ACL Still Accruing Commercial, Financial and Agricultural $ 41 $ - $ - $ 161 $ - $ - Real Estate – Construction - - - 179 - - Real Estate – Commercial Mortgage - - - 337 1,075 - Real Estate – Residential 1,061 916 - 1,617 1,513 - Real Estate – Home Equity 503 463 - 695 - - Consumer 42 - - 294 - - Total Nonaccrual $ 1,647 $ 1,379 $ - $ 3,283 $ 2,588 $ - Collateral Dependent Loans. The following table presents the amortized cost basis of collateral-dependent September 30, 2021 December 31, 2020 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ - $ - $ - Real Estate – Commercial Mortgage - - 3,900 - Real Estate – Residential 1,891 - 3,022 - Real Estate – Home Equity 665 - 219 - Consumer - - - 29 Total Collateral Dependent $ 2,556 $ - $ 7,141 $ 29 A loan is collateral dependent when the borrower is experiencing sale or operation of the underlying collateral. The Bank’s collateral dependent or commercial collateral types. or internal evaluations, adjusted for selling costs or other amounts to be deducted Residential Real Estate Loans In Process of Foreclosure . 1.4 million and $ 1.6 process. Troubled 8.5 7.9 performing in accordance with the modified terms. 14.3 13.9 million were performing in accordance with modified terms. 0.3 0.6 credit loss reserves at September 30, 2021 and December 31, 2020, respectively. The modifications made to TDRs involved either an extension of the loan term, a principal moratorium, or a combination thereof. no For the nine month period ended September 30, 2021, there were three 0.6 the nine month period ended September 30, 2020, there were three 0.2 For the three and nine month period ended September 30, 2021, no payment default and the loans were modified within the 12 months September 30, 2020, there were no within the 12 months prior to default. Credit Risk Management . procedures designed to maximize loan income within an acceptable approve these policies and procedures on a regular basis (at least annually). Reporting systems are used to monitor loan originations, loan quality, loans and potential problem loans. monitor asset quality trends and the appropriateness of credit policies. concentration risk is monitored. of risk, client concentrations, industry group, loan type, geographic of the loan portfolio are monitored and reported to the Board on a quarterly Board approved credit policies governing exposure limits and underwriting the Company’s loan portfolio Commercial, Financial, and Agricultural – Loans in this category with consideration given to underlying collateral and personal or ratio limits that require a borrower’s cash flow to be sufficient The majority of these loans are secured by the assets being financed or other equipment. governed by established policy guidelines. Real Estate Construction – Loans in this category consist of short-term and construction/permanent loans made to individuals and investors to rehabilitation of real property. secured by the property being financed, including 1-4 family residential properties occupied or investment in nature. based upon estimates of costs and value associated with the completed party appraisals and evaluations. of funds for construction loans is made in relation to the progress of the project site inspections. Real Estate Commercial Mortgage – Loans in this category consists of commercial owner-occupied or investment in nature. with consideration given to underlying real estate collateral and coverage ratios and loan to value ratios specific to the property type. appraisals and evaluations. Real Estate Residential – Residential mortgage loans held in the Company’s ability to make scheduled payments with full consideration to underwriting assets, and other financial resources, credit history, residential properties. originate sub-prime loans. Real Estate Home Equity – Home equity loans and lines are made to qualified by senior or junior mortgage liens on owner-occupied favorable credit history combined with supportive income and debt ratio established policy guidelines. Consumer Loans – This loan portfolio includes personal installment loans, lines of credit. establishes maximum debt to income ratios, minimum credit scores, and receipt of credit reports. Credit Quality Indicators . into risk categories based on relevant information about the ability of borrowers information, historical payment performance, credit documentation, factors. relationships over a predetermined amount and review of smaller balance homogenous noted below for categorizing and managing its criticized loans. and are not considered criticized. Special Mention – Loans in this category are presently protected from loss, but cause future problems. the ordinary amount of attention is warranted for these loans. Substandard – Loans in this category exhibit well-defined weaknesses that would These loans are no longer adequately protected due to well-defined borrower. Doubtful – Loans in this category have all the weaknesses inherent in a loan the weaknesses make collection or liquidation in full, on the basis of questionable and improbable. Performing/Nonperforming – Loans within certain homogenous but are monitored for credit quality via the aging status of the loan and is updated on an on-going basis dependent upon improvement The following table summarizes gross loans held for investment at September credit risk ratings (refer to Credit Risk Management section for detail on risk rating Term Revolving (Dollars in Thousands) 2021 2020 2019 2018 2017 Prior Loans Total Commercial, Financial, Agriculture: Pass $ 51,866 $ 38,453 $ 34,226 $ 22,539 $ 10,376 $ 14,072 $ 46,969 $ 218,501 Special Mention - - 70 12 - 49 - 131 Substandard - 10 - 204 6 77 - 297 Total $ 51,866 $ 38,463 $ 34,296 $ 22,755 $ 10,382 $ 14,198 $ 46,969 $ 218,929 Real Estate - Construction: Pass $ 75,222 $ 72,664 $ 23,588 $ 429 $ 132 $ - $ 5,408 $ 177,443 Total $ 75,222 $ 72,664 $ 23,588 $ 429 $ 132 $ - $ 5,408 $ 177,443 Real Estate - Commercial Mortgage: Pass $ 139,623 $ 142,833 $ 87,251 $ 103,059 $ 67,392 $ 97,842 $ 19,690 $ 657,690 Special Mention - 454 1,552 9,727 431 5,423 - 17,587 Substandard 1,520 585 3,517 - 1,266 990 224 8,102 Total $ 141,143 $ 143,872 $ 92,320 $ 112,786 $ 69,089 $ 104,255 $ 19,914 $ 683,379 Real Estate - Residential: Pass $ 105,611 $ 72,091 $ 44,393 $ 29,792 $ 28,447 $ 66,748 $ 8,538 $ 355,620 Special Mention - 136 20 122 169 419 - 866 Substandard 1,290 441 1,051 812 221 2,373 76 6,264 Total $ 106,901 $ 72,668 $ 45,464 $ 30,726 $ 28,837 $ 69,540 $ 8,614 $ 362,750 Real Estate - Home Equity: Performing $ 99 $ 56 $ 452 $ 176 $ 749 $ 1,756 $ 183,388 $ 186,676 Nonperforming - - - - - 33 933 966 Total $ 99 $ 56 $ 452 $ 176 $ 749 $ 1,789 $ 184,321 $ 187,642 Consumer: Performing $ 136,780 $ 73,778 $ 45,252 $ 31,530 $ 13,377 $ 4,666 $ 5,857 $ 311,240 Nonperforming - - 17 24 - 1 - 42 Total $ 136,780 $ 73,778 $ 45,269 $ 31,554 $ 13,377 $ 4,667 $ 5,857 $ 311,282 |
MORTGAGE BANKING ACTIVITIES
MORTGAGE BANKING ACTIVITIES | 9 Months Ended |
Sep. 30, 2021 | |
Mortgage Banking Activities [Abstract] | |
Mortgage Banking Activities | NOTE 4 – MORTGAGE BANKING ACTIVITIES The Company’s mortgage used to manage residential loan pipeline price risk, utilization of and residential mortgage servicing. period March 1, 2020 to September 30, 2020 and CCB legacy residential 1, 2020. Residential Mortgage Loan Production The Company originates, markets, and services conventional and conforming fixed rate residential mortgage loans are held for sale in the residential mortgage loans may be held for investment. market prices are the primary drivers of origination revenue. Residential mortgage loan commitments are generally outstanding for 30 commitment commitments are subject to both credit and price risk. collateral requirements, which are generally accepted by the secondary fluctuations and is partially managed through forward sales of residential securities, or TBAs) or mandatory delivery commitments with investors. The unpaid principal balance of residential mortgage loans held for sale, mortgage loan commitments and forward contract sales and their related September 30, 2021 December 31, 2020 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 74,491 $ 77,036 $ 109,831 $ 114,039 Residential Mortgage Loan Commitments ("IRLCs") (1) 87,062 1,717 147,494 4,825 Forward Sales Contracts (2) 102,500 451 158,500 (907) $ 79,204 $ 117,957 (1) Recorded in other assets at fair value (2) Recorded in other assets and other liabilities at fair value The Company had no 30, 2021 and had $ 0.6 Mortgage banking revenue was as follows: Three Months Ended Nine Months Ended (Dollars in Thousands) 2021 2020 2021 2020 Net realized gains on sales of mortgage loans $ 12,132 $ 21,423 $ 40,089 $ 39,410 Net change (165) 1,499 (1,663) 3,329 Net change in the fair value of mortgage loan commitments (IRLCs) (806) 691 (3,108) 3,833 Net change in the fair value of forward sales contracts 540 560 1,358 791 Pair-Offs on net settlement of forward sales contracts (636) (3,049) 2,199 (7,445) Mortgage servicing rights additions 205 763 845 2,813 Net origination fees 1,013 1,096 2,905 2,902 Total mortgage banking $ 12,283 $ 22,983 $ 42,625 $ 45,633 Residential Mortgage Servicing The Company may retain the right to service residential mortgage loans others is the primary driver of servicing revenue. The following represents a summary of mortgage servicing rights. (Dollars in Thousands) September 30, 2021 December 31, 2020 Number of residential mortgage loans serviced for others 2,028 1,796 Outstanding principal balance of residential mortgage loans serviced $ 505,321 $ 456,135 Weighted average 3.62% 3.64% Remaining contractual term (in months) 316 321 Conforming conventional loans serviced by the Company are sold to FNMA on generally the responsibility of FNMA and not the Company. GNMA, whereby the Company is insured against loss by the Federal Housing the Veterans ( 60 %), GNMA ( 9 %), and private investor ( 31 %). remittance. The Company had $ 3.0 4.9 Company at September 30, 2021 and December 31, 2020, respectively. liability has been recorded in other assets and other liabilities, respectively, For the three month period ended September 30, 2021, the Company no t repurchase any delinquent residential loans currently in GNMA pools. 2.2 defaulted mortgage loans with the intention to modify their terms and include Activity in the capitalized mortgage servicing rights was as follows: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2021 2020 2021 2020 Beginning balance $ 3,710 $ 2,862 $ 3,452 $ 910 Additions due to loans sold with servicing retained 205 763 845 2,813 Deletions and amortization (351) (277) (983) (375) Valuation - - 250 - Ending balance $ 3,564 $ 3,348 $ 3,564 $ 3,348 The Company did no t record any permanent impairment losses on mortgage servicing rights for the September 30, 2021 and September 30, 2020. The key unobservable inputs used in determining the fair value of the Company’s September 30, 2021 December 31, 2020 Minimum Maximum Minimum Maximum Discount rates 11.00% 15.00% 11.00% 15.00% Annual prepayment speeds 13.53% 23.82% 13.08% 23.64% Cost of servicing (per loan) $ 90 $ 110 $ 90 $ 110 Changes in residential mortgage interest rates directly affect servicing rights. estimated loan curtailment, anticipated defaults, and other relevant factors. 17.34 % at September 30, 2021 and 17.10 % at December 31, 2020. Warehouse The Company has the following warehouse lines of credit and master repurchase September 30, 2021. Amounts (Dollars in Thousands) Outstanding $ 25 October 2021 . 2.25% , with a floor rate of 3.50% . 0.1 $ 6,526 $ 75 2.24% 3.00% , with a floor rate of 3.25% . 0.5 21,942 $ 50 September 2021 . 2.75% , with a floor rate of 3.25% . 19,376 Total Warehouse $ 47,844 The Company does not intend to renew when the warehouse line expires. In October 2021, the warehouse line was renewed through November 30, Warehouse for sale pledged as collateral under the above warehouse lines of credit and contain covenants which include certain financial requirements, including maintenance liquid assets, maximum debt to net worth ratio and positive net income, compliance with all significant debt covenants The Company has extended a $ 50 51 % owned subsidiary entity. transactions under this line of credit are eliminated in the Company’s total short term borrowings noted on the Consolidated Statement of September 30, 2021 was $ 27.0 |
DERIVATIVES
DERIVATIVES | 9 Months Ended |
Sep. 30, 2021 | |
Derivatives [Abstract] | |
Derivatives | NOTE 5 – DERIVATIVES The Company enters into derivative financial instruments to manage exposures receipt or payment of future known and uncertain cash amounts, the value of derivative financial instruments are used to manage differences in expected cash receipts and its known or expected cash payments principally Cash Flow Hedges of Interest Rate Risk Interest rate swaps with notional amounts totaling $ 30 subordinated debt. 2.50 % and receive a variable interest rate based on three-month LIBOR plus a weighted average margin 1.83 %. For derivatives designated and that qualify as cash flow hedges of interest rate accumulated other comprehensive income (“AOCI”) and subsequently which the hedged transaction affects earnings. Amounts reported will be reclassified to interest expense as interest payments are made on the The following table reflects the cash flow hedges included in the consolidated Notional Fair Balance Sheet Weighted Average (Dollars in Thousands) Value Location September 30, 2021 Interest rate swaps related to subordinated debt $ 30,000 $ 1,952 Other Assets 8.8 December 31, 2020 Interest rate swaps related to subordinated debt $ 30,000 $ 574 Other Assets 9.5 The following table presents the net gains (losses) recorded in AOCI and flow derivative instruments (interest rate swaps related to subordinated 30, 2021 and September 30, 2020. Amount of Gain Amount of Gain (Loss) Recognized (Loss) Reclassified (Dollars in Thousands) in AOCI Category from AOCI to Income Three months ended September 30, 2021 $ 128 Interest Expense $ (41) Three months ended September 30, 2020 129 Interest Expense (28) Nine months ended September 30, 2021 $ 1,029 Interest Expense $ (111) Nine months ended September 30, 2020 21 Interest Expense (31) The Company estimates there will be approximately $ 0.2 months. The Company had a collateral liability of $ 2.0 0.5 |
LEASES
LEASES | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Leases | NOTE 6 – LEASES Operating leases in which the Company is the lessee are recorded as operating liabilities, included in other assets and liabilities, respectively, The Company’s operating 1 44 leases are not complex and do not contain residual value guarantees, variable made in applying the requirements of Topic Operating leases with an initial term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. operating lease ROU assets and liabilities were $ 11.9 12.5 finance leases or any significant lessor agreements. The table below summarizes our lease expense and other information related Three Months Ended Nine Months Ended September 30, September 30, (Dollars in Thousands) 2021 2020 2021 2020 Operating lease expense $ 369 $ 273 $ 1,075 $ 695 Short-term lease expense 181 145 490 378 Total $ 550 $ 418 $ 1,565 $ 1,073 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 410 $ 271 $ 1,197 $ 695 Right-of-use assets obtained in exchange for new operating lease liabilities 269 85 784 5,206 Weighted average 25.0 15.4 25.0 15.4 Weighted average 2.0% 2.3% 2.0% 2.3% The table below summarizes the maturity of remaining lease liabilities: (Dollars in Thousands) September 30, 2021 2021 $ 413 2022 1,499 2023 1,129 2024 1,088 2025 911 2026 and thereafter 11,199 Total $ 16,239 Less: Interest (3,720) Present Value $ 12,519 At September 30, 2021, the Company had additional operating lease payments two totaling $ 4.8 15 years . Payments for the banking offices are expected to commence after the construction period ends, which is expected to occur during the second quarter of 2022 and the third quarter of 2022. A related party is the lessor in an operating lease with the Company. 0.2 through 2024, for an aggregate remaining obligation of $ 0.6 |
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS | 9 Months Ended |
Sep. 30, 2021 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee benefit plans | NOTE 7 - EMPLOYEE BENEFIT PLANS The Company has a defined benefit pension plan covering substantially all full-time Supplemental Executive Retirement Plan (“SERP”) and a Supplemental executive officers. December 31, 2019. were not covered by the SERP. The components of the net periodic benefit cost for the Company's qualified Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2021 2020 2021 2020 Service Cost $ 1,743 $ 1,457 $ 5,229 $ 4,371 Interest Cost 1,221 1,400 3,664 4,212 Expected Return on Plan Assets (2,787) (2,748) (8,361) (8,245) Prior Service Cost Amortization 4 4 11 11 Net Loss Amortization 1,691 974 5,073 2,959 Settlement Loss 500 - 2,500 - Special Termination - - - 61 Net Periodic Benefit Cost $ 2,372 $ 1,087 $ 8,116 $ 3,369 Discount Rate 2.88% 3.53% 2.88% 3.53% Long-term Rate of Return on Assets 6.75% 7.00% 6.75% 7.00% In the second quarter of 2021, lump sum payments made under the Company’s accounting. losses of $ 2.0 0.5 The components of the net periodic benefit cost for the Company's SERP and SERP II Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2021 2020 2021 2020 Service Cost $ 9 $ 10 $ 27 $ 21 Interest Cost 61 83 183 238 Prior Service Cost Amortization 69 109 157 218 Net Loss Amortization 243 93 683 410 Net Periodic Benefit Cost $ 382 $ 295 $ 1,050 $ 887 Discount Rate 2.38% 3.16% 2.38% 3.16% The service cost component of net periodic benefit cost is reflected in income. of income. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies [Abstract] | |
Commitments and contingencies | NOTE 8 - COMMITMENTS AND CONTINGENCIES Lending Commitments . to meet the financing needs of its clients. credit. The Company’s maximum exposure the contractual amount of those instruments. letters of credit as it does for on-balance sheet instruments. obligations were as follows: September 30, 2021 December 31, 2020 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit $ 214,666 $ 535,695 $ 750,361 $ 160,372 $ 596,572 $ 756,944 Standby Letters of Credit 5,652 - 5,652 6,550 - 6,550 Total $ 220,318 $ 535,695 $ 756,013 $ 166,922 $ 596,572 $ 763,494 (1) Commitments include unfunded loans, revolving Commitments to extend credit are agreements to lend to a client so long as there is no violation of contract. many of the commitments are expected to expire without being drawn represent future cash requirements. Standby letters of credit are conditional commitments issued by party. general, management does not anticipate any material losses as a result potential losses arising from such transactions are reserved for in the same manner facilities. For both on- and off-balance sheet financial instruments, the Company deemed necessary. obtained upon extension of credit is based on management’s include deposits held in financial institutions; U.S. Treasury property, plant and The allowance for credit losses for off-balance sheet credit commitments adjusted as a provision for credit loss expense and is recorded in other liabilities. allowance. Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2021 2020 2021 2020 Beginning Balance $ 2,587 $ 1,033 $ 1,644 $ 157 Impact of Adoption of ASC 326 - - - 876 Provision for Credit Losses 530 434 1,473 434 Ending Balance $ 3,117 $ 1,467 $ 3,117 $ 1,467 Contingencies . there are no known pending claims or litigation, the outcome of which on the consolidated results of operations, financial position, or cash flows Indemnification Obligation . indemnify the Visa U.S.A. antitrust lawsuits challenging the practices of Visa U.S.A. network, obtained Class B shares of Visa, funded a litigation reserve for the Covered Litigation resulting in a reduction first quarter of 2011, the Company sold its remaining contract with the purchaser of the shares that requires a payment to the revisions to the conversion ratio for its Class B shares. Fixed charges included in the swap liability are payable quarterly aforementioned swap contract will be terminated. 206,000 . ongoing fixed quarterly charges are reflected in earnings |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value measurements [Abstract] | |
Fair value measurements | NOTE 9 – FAIR VALUE The fair value of an asset or liability is the price that would be received to sell that asset or paid transaction occurring in the principal market (or most advantageous market in liability. approach and/or the cost approach. assumptions that market participants would use in pricing an asset or liability. valuation inputs that gives the highest priority to quoted prices in active markets priority to unobservable inputs. ● Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting ability to access at the measurement date . ● Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, or indirectly. These might or similar assets or liabilities in markets that are not active, inputs other liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) corroborated, by market data by correlation or other means . ● Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an assumptions about the assumptions that market participants would Assets and Liabilities Measured at Fair Value Securities Available for Sale. U.S. Treasury securities are reported at fair value available for sale are reported at fair value utilizing Level 2 inputs. from an independent pricing service. spreads, cash flows, the U.S. Treasury yield curve, and conditions, among other things. In general, the Company does not purchase securities that have a complicated structure. traditional investments, nearly all of which are U.S. Treasury general obligation or revenue-based municipal bonds. will validate prices supplied by the independent pricing service by compari source. Loans Held for Sale . using either quoted secondary-market prices or investor commitments. using quoted prices for a similar asset or assets, adjusted for the specific attributes of participants. Mortgage Banking Derivative Instruments. The fair values of interest rate lock commitments (“IRLCs”) are derived by valuation models incorporating market pricing for instruments with similar characteristics, investor commitment prices for best effort IRLCs which have servicing rights expected to be recorded upon sale of the loans, net estimated costs to originate and are therefore classified as Level 3 within the fair value hierarchy. observable market pricing for similar instruments and are therefore Interest Rate Swap. The Company’s derivative positions models generally accepted in the financial services industry and external market data providers. Fair Value . valuation represents the amount due and payable to the counterparty based upon period. A summary of fair values for assets and liabilities consisted of the following: Level 1 Level 2 Level 3 Total (Dollars in Thousands) Inputs Inputs Inputs Value September 30, 2021 ASSETS: Securities Available for U.S. Government Treasury $ 164,047 $ - $ - $ 164,047 U.S. Government Agency - 250,472 - 250,472 States and Political Subdivisions - 43,546 - 43,546 Mortgage-Backed Securities - 97,207 - 97,207 Corporate Debt Securities - 83,777 - 83,777 Equity Securities (1) - 6,795 - 6,795 Loans Held for Sale - 77,036 - 77,036 Interest Rate Swap Derivative - 1,952 - 1,952 Mortgage Banking Hedge Derivative - 451 - 451 Mortgage Banking IRLC Derivative - - 1,717 1,717 Mortgage Servicing Rights - - 3,830 3,830 December 31, 2020 ASSETS: Securities Available for U.S. Government Treasury $ 104,519 $ - $ - $ 104,519 U.S. Government Agency - 208,531 - 208,531 States and Political Subdivisions - 3,632 - 3,632 Mortgage-Backed Securities - 515 - 515 Equity Securities (1) - 7,673 - 7,673 Loans Held for Sale - 114,039 - 114,039 Interest Rate Swap Derivative - 574 - 574 Mortgage Banking IRLC Derivative - - 4,825 4,825 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 907 $ - $ 907 (1) Not readily marketable securities - reflected Mortgage Banking Activities . 26.2 million and $ 38.6 34.0 40.3 respectively, for the underlying mortgage loan from inception of the IRLC to the balance IRLCs transferred out of Level 3 represent IRLCs that were funded and moved Assets Measured at Fair Value Certain assets are measured at fair value on a non-recurring basis (i.e., the but are subject to fair value adjustments in certain circumstances). The following is a description of valuation methodologies used for Collateral Dependent Loans . costs. regulations. estimation involved in the real estate appraisal process. basis for additional impairment and adjusted accordingly. periods. 2.6 0.1 2021 and $ 7.1 0.1 Other Real Estate Owned . reported at fair value through a charge-off to the allowance estimated cost to sell. conformance with banking regulations. adjustments as necessary. involved in the real estate valuation process. Mortgage Servicing Rights . upon the fair value of the rights as compared to the carrying amount. estimated prepayment speeds of the underlying mortgage loans serviced and underlying loans (predominantly loan type and note interest rate). discount rate, weighted average prepayment speed, and the cost of loan provided in Note 4 – Mortgage Banking Activities. no rights. Assets and Liabilities Disclosed at Fair Value The Company is required to disclose the estimated fair value of financial instruments, practical to estimate fair value and the following is a description of valuation A summary of estimated fair values of significant financial instruments consisted September 30, 2021 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 73,132 $ 73,132 $ - $ - Short-Term Investments 708,988 708,988 - - Investment Securities, Available 645,844 164,047 481,797 - Investment Securities, Held to Maturity 341,228 115,555 228,730 - Equity Securities (1) 3,588 - 3,588 - Loans Held for Sale 77,036 - 77,036 - Interest Rate Swap Derivative 1,952 - 1,952 - Mortgage Banking Hedge Derivative 451 - 451 - Mortgage Banking IRLC Derivative 1,717 - - 1,717 Mortgage Servicing Rights 3,564 - - 3,830 Loans, Net of Allowance for Credit Losses $ 1,919,925 $ - $ - $ 1,919,442 LIABILITIES: Deposits $ 3,465,962 $ - $ 3,327,728 $ - Short-Term 51,410 - 51,410 - Subordinated Notes Payable 52,887 - 42,359 - Long-Term Borrowings 1,610 - 1,681 - December 31, 2020 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 67,919 $ 67,919 $ - $ - Short-Term Investments 860,630 860,630 - - Investment Securities, Available 324,870 104,519 220,351 - Investment Securities, Held to Maturity 169,939 5,014 170,161 - Loans Held for Sale 114,039 - 114,039 - Equity Securities (1) 3,589 - 3,589 - Interest Rate Swap Derivative 574 - 574 - Mortgage Banking IRLC Derivative 4,825 - - 4,825 Mortgage Servicing Rights 3,452 - - 3,451 Loans, Net of Allowance for Credit Losses $ 1,982,610 $ - $ - $ 1,990,740 LIABILITIES: Deposits $ 3,217,560 $ - $ 3,217,615 $ - Short-Term 79,654 - 79,654 - Subordinated Notes Payable 52,887 - 43,449 - Long-Term Borrowings 3,057 - 3,174 - Mortgage Banking Hedge Derivative $ 907 - $ 907 $ - (1) All non-financial instruments are excluded from the above table. aggregate fair value amounts presented do not represent the underlying |
ACCUMULATED OTHER COMPREHENSIVE
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 9 Months Ended |
Sep. 30, 2021 | |
Accumulated other comprehensive income [Abstract] | |
Accumulated other comprehensive income | NOTE 10 – ACCUMULATED The amounts allocated to accumulated other comprehensive income Accumulated Securities Other Available Interest Rate Retirement Comprehensive (Dollars in Thousands) Swap Plans Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive (loss) income during the period (3,249) 1,029 1,635 (585) Balance as of September 30, 2021 $ (549) $ 1,457 $ (45,635) $ (44,727) Balance as of January 1, 2020 $ 864 $ - $ (29,045) $ (28,181) Other comprehensive income during the period 2,429 39 - 2,468 Balance as of September 30, 2020 $ 3,293 $ 39 $ (29,045) $ (25,713) |
BUSINESS AND BASIS OF PRESENT_2
BUSINESS AND BASIS OF PRESENTATION (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Business and Basis of Presentation [Abstract] | |
Nature of Operations | Nature of Operations . related services to individual and corporate clients through its subsidiary, Georgia, and Alabama. government agencies and undergoes periodic examinations |
Basis of Presentation | Basis of Presentation . and its wholly owned subsidiary, have been eliminated. The accompanying unaudited consolidated financial statements have principles for interim financial information and with the instructions to Form they do not include all of the information and footnotes required by generally accepted statements. presentation have been included. The consolidated statement of financial condition at December 31, statements at that date, but does not include all of the information and footnotes for complete financial statements. included in the Company’s annual |
Acquisition | Acquisition. April 30, 2021 , a newly formed subsidiary of CCBG, Capital City Strategic Wealth, substantially all of the assets of Strategic Wealth and insurance carrier agreements, and the assignment of all related revenues SWG principles became officers of CCSW and will continue management services and comprehensive risk management CCBG paid $ 4.4 2.8 1.6 |
Accounting Standards Updates | Accounting Standards Updates ASU 2020-04, "Reference Rate Reform (Topic ASU 2020-04 provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other transactions toward new interest rate benchmarks. For transactions that guidance (i) modifications of loan agreements should be accounted modification will be considered "minor" so that any existing unamortized be amortized and (ii) modifications of lease agreements should be accounted reassessments of the lease classification and the discount rate or re-measurements for modifications not accounted for as separate contracts. ASU 2020 accounting. contract modifications as of January 1, 2020, or prospectively from a March 12, 2020, up to the date that the financial statements are available to Subtopic within the Codification, the amendments in this ASU must be applied that Topic or Industry (yet to be determined) and December 31, 2022 that are directly related to continuation of the contract, rather than extinguishment of the old contract ASU 2021-01, “Reference Rate Reform (Topic clarifies that certain optional expedients and exceptions in ASC 848 for contract modifications and hedge accounting apply to derivatives that are amends the expedients and exceptions in ASC 848 to capture the incremental existing guidance to derivative instruments. ASU will have material effects on the Company’s |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments Securities [Abstract] | |
Schedule of amortized cost and related market value of investment securities available-for-sale | NOTE 2 – INVESTMENT SECURITIES Investment Portfolio Composition . The following table summarizes the amortized cost and related market value of investment securities available-for-sale and securities held-to-maturity and the corresponding September 30, 2021 December 31, 2020 Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market (Dollars in Thousands) Cost Gains Losses Value Cost Gain Losses Value Available for U.S. Government Treasury $ 164,806 $ 90 $ 849 $ 164,047 $ 103,547 $ 972 $ - $ 104,519 U.S. Government Agency 249,649 1,793 970 250,472 205,972 2,743 184 208,531 States and Political Subdivisions 43,834 69 357 43,546 3,543 89 - 3,632 Mortgage-Backed Securities (1) 97,131 240 164 97,207 456 59 - 515 Corporate Debt Securities 84,331 13 567 83,777 - - - - Equity Securities (2) 6,795 - - 6,795 7,673 - - 7,673 Total $ 646,546 $ 2,205 $ 2,907 $ 645,844 $ 321,191 $ 3,863 $ 184 $ 324,870 Held to Maturity U.S. Government Treasury $ 115,903 $ - $ 348 $ 115,555 $ 5,001 $ 13 $ - $ 5,014 Mortgage-Backed Securities 225,325 3,941 536 228,730 164,938 5,223 - 170,161 Total $ 341,228 $ 3,941 $ 884 $ 344,285 $ 169,939 $ 5,236 $ - $ 175,175 Total Investment $ 987,774 $ 6,146 $ 3,791 $ 990,129 $ 491,130 $ 9,099 $ 184 $ 500,045 (1) (2) Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded 2.0 4.8 respectively, $ 2.9 4.8 |
Schedule of investment securities with maturity distribution based on contractual maturities | Available for Held to Maturity (Dollars in Thousands) Amortized Cost Market Value Amortized Cost Market Value Due in one year or less $ 39,614 $ 39,423 $ - $ - Due after one year through five years 264,747 263,661 115,903 115,555 Due after five year through ten years 66,347 65,614 - - Mortgage-Backed Securities 97,131 97,207 225,325 228,730 U.S. Government Agency 171,912 173,144 - - Equity Securities 6,795 6,795 - - Total $ 646,546 $ 645,844 $ 341,228 $ 344,285 |
Schedule of investment securities with continuous unrealized loss position | Less Than Greater Than 12 Months 12 Months Total Market Unrealized Market Unrealized Market Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses September 30, 2021 Available for U.S. Government Treasury $ 143,394 $ 849 $ - $ - $ 143,394 $ 849 U.S. Government Agency 118,969 859 12,168 111 131,137 970 States and Political Subdivisions 27,355 357 - - 27,355 357 Mortgage-Backed Securities 40,012 164 - - 40,012 164 Corporate Debt Securities 57,304 567 - - 57,304 567 Total 387,034 2,796 12,168 111 399,202 2,907 Held to Maturity U.S. Government Treasury 115,555 348 - - 115,555 348 Mortgage-Backed Securities 93,023 536 - - 93,023 536 Total $ 208,578 $ 884 $ - $ - $ 208,578 $ 884 December 31, 2020 Available for U.S. Government Agency $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 Total $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 |
LOANS HELD FOR INVESTMENT AND_2
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Loans Held For Investment And Allowance For Credit Losses [Abstract] | |
Schedule of composition of the loan portfolio | (Dollars in Thousands) September 30, 2021 December 31, 2020 Commercial, Financial and Agricultural $ 218,929 $ 393,930 Real Estate – Construction 177,443 135,831 Real Estate – Commercial Mortgage 683,379 648,393 Real Estate – Residential (1) 362,750 352,543 Real Estate – Home Equity 187,642 205,479 Consumer (2) 311,282 270,250 Loans HFI, Net of Unearned Income $ 1,941,425 $ 2,006,426 (1) Includes loans in process with outstanding balances 7.1 10.9 2020, (2) Includes overdraft balances of $ 1.3 0.7 |
Schedule of activity in the allowance for loan losses by portfolio class | Commercial, Real Estate Financial, Real Estate Commercial Real Estate Real Estate (Dollars in Thousands) Agricultural Construction Mortgage Residential Home Equity Consumer Total Three Months September 30, 2021 Beginning Balance $ 1,972 $ 2,759 $ 7,569 $ 4,353 $ 2,457 $ 3,065 $ 22,175 Provision for Credit Losses 178 517 (1,588) (433) (131) 911 (546) Charge-Offs (37) - (405) (17) (15) (1,314) (1,788) Recoveries 66 10 169 401 46 967 1,659 Net (Charge-Offs) Recoveries 29 10 (236) 384 31 (347) (129) Ending Balance $ 2,179 $ 3,286 $ 5,745 $ 4,304 $ 2,357 $ 3,629 $ 21,500 Nine Months Ended September 30, 2021 Beginning Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 Provision for Credit Losses (192) 797 (1,719) (1,768) (900) 740 (3,042) Charge-Offs (138) - (405) (88) (94) (3,040) (3,765) Recoveries 305 10 840 720 240 2,376 4,491 Net (Charge-Offs) Recoveries 167 10 435 632 146 (664) 726 Ending Balance $ 2,179 $ 3,286 $ 5,745 $ 4,304 $ 2,357 $ 3,629 $ 21,500 Three Months Ended September 30, 2020 Beginning Balance $ 2,468 $ 1,955 $ 6,640 $ 5,440 $ 2,753 $ 3,201 $ 22,457 Provision for Credit Losses (195) 161 616 (344) 196 831 1,265 Charge-Offs (137) - (17) (1) (58) (1,069) (1,282) Recoveries 74 - 30 35 41 517 697 Net Charge-Offs (63) - 13 34 (17) (552) (585) Ending Balance $ 2,210 $ 2,116 $ 7,269 $ 5,130 $ 2,932 $ 3,480 $ 23,137 Nine Months Ended September 30, 2020 Beginning Balance $ 1,675 $ 370 $ 3,416 $ 3,128 $ 2,224 $ 3,092 $ 13,905 Impact of Adopting ASC 326 488 302 1,458 1,243 374 (596) 3,269 Provision for Credit Losses 544 1,444 2,132 745 337 2,668 7,870 Charge-Offs (685) - (28) (112) (141) (3,810) (4,776) Recoveries 188 - 291 126 138 2,126 2,869 Net Charge-Offs (497) - 263 14 (3) (1,684) (1,907) Ending Balance $ 2,210 $ 2,116 $ 7,269 $ 5,130 $ 2,932 $ 3,480 $ 23,137 |
Schedule of aging of the recorded investment in accruing past due loans by class of loans | 30-59 60-89 90 + Total Total Nonaccrual Total (Dollars in Thousands) DPD DPD DPD Past Due Current Loans Loans September 30, 2021 Commercial, Financial and Agricultural $ 499 $ 36 $ - $ 535 $ 218,353 $ 41 $ 218,929 Real Estate – Construction - - - - 177,443 - 177,443 Real Estate – Commercial Mortgage 364 - - 364 683,015 - 683,379 Real Estate – Residential 735 177 - 912 359,861 1,977 362,750 Real Estate – Home Equity 76 19 - 95 186,581 966 187,642 Consumer 1,196 258 - 1,454 309,786 42 311,282 Total $ 2,870 $ 490 $ - $ 3,360 $ 1,935,039 $ 3,026 $ 1,941,425 December 31, 2020 Commercial, Financial and Agricultural $ 194 $ 124 $ - $ 318 $ 393,451 $ 161 $ 393,930 Real Estate – Construction - 717 - 717 134,935 179 135,831 Real Estate – Commercial Mortgage 293 - - 293 646,688 1,412 648,393 Real Estate – Residential 375 530 - 905 348,508 3,130 352,543 Real Estate – Home Equity 325 138 - 463 204,321 695 205,479 Consumer 1,556 342 - 1,898 268,058 294 270,250 Total $ 2,743 $ 1,851 $ - $ 4,594 $ 1,995,961 $ 5,871 $ 2,006,426 |
Schedule of recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans | September 30, 2021 December 31, 2020 Nonaccrual Nonaccrual Nonaccrual Nonaccrual With With No 90 + Days With With No 90 + Days (Dollars in Thousands) ACL ACL Still Accruing ACL ACL Still Accruing Commercial, Financial and Agricultural $ 41 $ - $ - $ 161 $ - $ - Real Estate – Construction - - - 179 - - Real Estate – Commercial Mortgage - - - 337 1,075 - Real Estate – Residential 1,061 916 - 1,617 1,513 - Real Estate – Home Equity 503 463 - 695 - - Consumer 42 - - 294 - - Total Nonaccrual $ 1,647 $ 1,379 $ - $ 3,283 $ 2,588 $ - |
Amortized cost basis of collateral-dependent loans | September 30, 2021 December 31, 2020 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ - $ - $ - Real Estate – Commercial Mortgage - - 3,900 - Real Estate – Residential 1,891 - 3,022 - Real Estate – Home Equity 665 - 219 - Consumer - - - 29 Total Collateral Dependent $ 2,556 $ - $ 7,141 $ 29 |
Summary of gross loans held for investment by years of origination | Term Revolving (Dollars in Thousands) 2021 2020 2019 2018 2017 Prior Loans Total Commercial, Financial, Agriculture: Pass $ 51,866 $ 38,453 $ 34,226 $ 22,539 $ 10,376 $ 14,072 $ 46,969 $ 218,501 Special Mention - - 70 12 - 49 - 131 Substandard - 10 - 204 6 77 - 297 Total $ 51,866 $ 38,463 $ 34,296 $ 22,755 $ 10,382 $ 14,198 $ 46,969 $ 218,929 Real Estate - Construction: Pass $ 75,222 $ 72,664 $ 23,588 $ 429 $ 132 $ - $ 5,408 $ 177,443 Total $ 75,222 $ 72,664 $ 23,588 $ 429 $ 132 $ - $ 5,408 $ 177,443 Real Estate - Commercial Mortgage: Pass $ 139,623 $ 142,833 $ 87,251 $ 103,059 $ 67,392 $ 97,842 $ 19,690 $ 657,690 Special Mention - 454 1,552 9,727 431 5,423 - 17,587 Substandard 1,520 585 3,517 - 1,266 990 224 8,102 Total $ 141,143 $ 143,872 $ 92,320 $ 112,786 $ 69,089 $ 104,255 $ 19,914 $ 683,379 Real Estate - Residential: Pass $ 105,611 $ 72,091 $ 44,393 $ 29,792 $ 28,447 $ 66,748 $ 8,538 $ 355,620 Special Mention - 136 20 122 169 419 - 866 Substandard 1,290 441 1,051 812 221 2,373 76 6,264 Total $ 106,901 $ 72,668 $ 45,464 $ 30,726 $ 28,837 $ 69,540 $ 8,614 $ 362,750 Real Estate - Home Equity: Performing $ 99 $ 56 $ 452 $ 176 $ 749 $ 1,756 $ 183,388 $ 186,676 Nonperforming - - - - - 33 933 966 Total $ 99 $ 56 $ 452 $ 176 $ 749 $ 1,789 $ 184,321 $ 187,642 Consumer: Performing $ 136,780 $ 73,778 $ 45,252 $ 31,530 $ 13,377 $ 4,666 $ 5,857 $ 311,240 Nonperforming - - 17 24 - 1 - 42 Total $ 136,780 $ 73,778 $ 45,269 $ 31,554 $ 13,377 $ 4,667 $ 5,857 $ 311,282 |
MORTGAGE BANKING ACTIVITIES (Ta
MORTGAGE BANKING ACTIVITIES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Mortgage Banking Activities [Abstract] | |
Residential Mortgage Loan Production | September 30, 2021 December 31, 2020 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 74,491 $ 77,036 $ 109,831 $ 114,039 Residential Mortgage Loan Commitments ("IRLCs") (1) 87,062 1,717 147,494 4,825 Forward Sales Contracts (2) 102,500 451 158,500 (907) $ 79,204 $ 117,957 (1) Recorded in other assets at fair value (2) Recorded in other assets and other liabilities at fair value |
Mortgage banking revenue | Three Months Ended Nine Months Ended (Dollars in Thousands) 2021 2020 2021 2020 Net realized gains on sales of mortgage loans $ 12,132 $ 21,423 $ 40,089 $ 39,410 Net change (165) 1,499 (1,663) 3,329 Net change in the fair value of mortgage loan commitments (IRLCs) (806) 691 (3,108) 3,833 Net change in the fair value of forward sales contracts 540 560 1,358 791 Pair-Offs on net settlement of forward sales contracts (636) (3,049) 2,199 (7,445) Mortgage servicing rights additions 205 763 845 2,813 Net origination fees 1,013 1,096 2,905 2,902 Total mortgage banking $ 12,283 $ 22,983 $ 42,625 $ 45,633 |
Summary of mortgage servicing rights | (Dollars in Thousands) September 30, 2021 December 31, 2020 Number of residential mortgage loans serviced for others 2,028 1,796 Outstanding principal balance of residential mortgage loans serviced $ 505,321 $ 456,135 Weighted average 3.62% 3.64% Remaining contractual term (in months) 316 321 |
Summary of mortgage servicing rights | Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2021 2020 2021 2020 Beginning balance $ 3,710 $ 2,862 $ 3,452 $ 910 Additions due to loans sold with servicing retained 205 763 845 2,813 Deletions and amortization (351) (277) (983) (375) Valuation - - 250 - Ending balance $ 3,564 $ 3,348 $ 3,564 $ 3,348 |
Key unobservable inputs used in determining the fair value of mortgage servicing rights | September 30, 2021 December 31, 2020 Minimum Maximum Minimum Maximum Discount rates 11.00% 15.00% 11.00% 15.00% Annual prepayment speeds 13.53% 23.82% 13.08% 23.64% Cost of servicing (per loan) $ 90 $ 110 $ 90 $ 110 |
Warehouse Line Borrowings | Amounts (Dollars in Thousands) Outstanding $ 25 October 2021 . 2.25% , with a floor rate of 3.50% . 0.1 $ 6,526 $ 75 2.24% 3.00% , with a floor rate of 3.25% . 0.5 21,942 $ 50 September 2021 . 2.75% , with a floor rate of 3.25% . 19,376 Total Warehouse $ 47,844 The Company does not intend to renew when the warehouse line expires. In October 2021, the warehouse line was renewed through November 30, |
DERIVATIVES (Tables)
DERIVATIVES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Derivatives [Abstract] | |
Cash flow hedges included in the Consolidated Statement of Financial Condition | Notional Fair Balance Sheet Weighted Average (Dollars in Thousands) Value Location September 30, 2021 Interest rate swaps related to subordinated debt $ 30,000 $ 1,952 Other Assets 8.8 December 31, 2020 Interest rate swaps related to subordinated debt $ 30,000 $ 574 Other Assets 9.5 |
Net gains (losses) recorded in accumulated other comprehensive income | Amount of Gain Amount of Gain (Loss) Recognized (Loss) Reclassified (Dollars in Thousands) in AOCI Category from AOCI to Income Three months ended September 30, 2021 $ 128 Interest Expense $ (41) Three months ended September 30, 2020 129 Interest Expense (28) Nine months ended September 30, 2021 $ 1,029 Interest Expense $ (111) Nine months ended September 30, 2020 21 Interest Expense (31) |
LEASES (Tables)
LEASES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Summary of lease expense and other information related to operating leases | Three Months Ended Nine Months Ended September 30, September 30, (Dollars in Thousands) 2021 2020 2021 2020 Operating lease expense $ 369 $ 273 $ 1,075 $ 695 Short-term lease expense 181 145 490 378 Total $ 550 $ 418 $ 1,565 $ 1,073 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 410 $ 271 $ 1,197 $ 695 Right-of-use assets obtained in exchange for new operating lease liabilities 269 85 784 5,206 Weighted average 25.0 15.4 25.0 15.4 Weighted average 2.0% 2.3% 2.0% 2.3% |
Summary of maturity of remaining lease liabilities | The table below summarizes the maturity of remaining lease liabilities: (Dollars in Thousands) September 30, 2021 2021 $ 413 2022 1,499 2023 1,129 2024 1,088 2025 911 2026 and thereafter 11,199 Total $ 16,239 Less: Interest (3,720) Present Value $ 12,519 |
EMPLOYEE BENEFIT PLANS (Tables)
EMPLOYEE BENEFIT PLANS (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Defined Benefit Pension Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2021 2020 2021 2020 Service Cost $ 1,743 $ 1,457 $ 5,229 $ 4,371 Interest Cost 1,221 1,400 3,664 4,212 Expected Return on Plan Assets (2,787) (2,748) (8,361) (8,245) Prior Service Cost Amortization 4 4 11 11 Net Loss Amortization 1,691 974 5,073 2,959 Settlement Loss 500 - 2,500 - Special Termination - - - 61 Net Periodic Benefit Cost $ 2,372 $ 1,087 $ 8,116 $ 3,369 Discount Rate 2.88% 3.53% 2.88% 3.53% Long-term Rate of Return on Assets 6.75% 7.00% 6.75% 7.00% |
Supplemental Executive Retirement Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | The components of the net periodic benefit cost for the Company's SERP and SERP II Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2021 2020 2021 2020 Service Cost $ 9 $ 10 $ 27 $ 21 Interest Cost 61 83 183 238 Prior Service Cost Amortization 69 109 157 218 Net Loss Amortization 243 93 683 410 Net Periodic Benefit Cost $ 382 $ 295 $ 1,050 $ 887 Discount Rate 2.38% 3.16% 2.38% 3.16% |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies [Abstract] | |
Schedule of amounts associated with the entities off-balance sheet obligations | September 30, 2021 December 31, 2020 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit $ 214,666 $ 535,695 $ 750,361 $ 160,372 $ 596,572 $ 756,944 Standby Letters of Credit 5,652 - 5,652 6,550 - 6,550 Total $ 220,318 $ 535,695 $ 756,013 $ 166,922 $ 596,572 $ 763,494 (1) Commitments include unfunded loans, revolving |
Allowance for credit losses for off-balance sheet credit commitments | Three Months Ended September 30, Nine Months Ended September 30, (Dollars in Thousands) 2021 2020 2021 2020 Beginning Balance $ 2,587 $ 1,033 $ 1,644 $ 157 Impact of Adoption of ASC 326 - - - 876 Provision for Credit Losses 530 434 1,473 434 Ending Balance $ 3,117 $ 1,467 $ 3,117 $ 1,467 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value measurements [Abstract] | |
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis | Level 1 Level 2 Level 3 Total (Dollars in Thousands) Inputs Inputs Inputs Value September 30, 2021 ASSETS: Securities Available for U.S. Government Treasury $ 164,047 $ - $ - $ 164,047 U.S. Government Agency - 250,472 - 250,472 States and Political Subdivisions - 43,546 - 43,546 Mortgage-Backed Securities - 97,207 - 97,207 Corporate Debt Securities - 83,777 - 83,777 Equity Securities (1) - 6,795 - 6,795 Loans Held for Sale - 77,036 - 77,036 Interest Rate Swap Derivative - 1,952 - 1,952 Mortgage Banking Hedge Derivative - 451 - 451 Mortgage Banking IRLC Derivative - - 1,717 1,717 Mortgage Servicing Rights - - 3,830 3,830 December 31, 2020 ASSETS: Securities Available for U.S. Government Treasury $ 104,519 $ - $ - $ 104,519 U.S. Government Agency - 208,531 - 208,531 States and Political Subdivisions - 3,632 - 3,632 Mortgage-Backed Securities - 515 - 515 Equity Securities (1) - 7,673 - 7,673 Loans Held for Sale - 114,039 - 114,039 Interest Rate Swap Derivative - 574 - 574 Mortgage Banking IRLC Derivative - - 4,825 4,825 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 907 $ - $ 907 (1) Not readily marketable securities - reflected |
Schedule of financial instruments with estimated fair values | September 30, 2021 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 73,132 $ 73,132 $ - $ - Short-Term Investments 708,988 708,988 - - Investment Securities, Available 645,844 164,047 481,797 - Investment Securities, Held to Maturity 341,228 115,555 228,730 - Equity Securities (1) 3,588 - 3,588 - Loans Held for Sale 77,036 - 77,036 - Interest Rate Swap Derivative 1,952 - 1,952 - Mortgage Banking Hedge Derivative 451 - 451 - Mortgage Banking IRLC Derivative 1,717 - - 1,717 Mortgage Servicing Rights 3,564 - - 3,830 Loans, Net of Allowance for Credit Losses $ 1,919,925 $ - $ - $ 1,919,442 LIABILITIES: Deposits $ 3,465,962 $ - $ 3,327,728 $ - Short-Term 51,410 - 51,410 - Subordinated Notes Payable 52,887 - 42,359 - Long-Term Borrowings 1,610 - 1,681 - December 31, 2020 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 67,919 $ 67,919 $ - $ - Short-Term Investments 860,630 860,630 - - Investment Securities, Available 324,870 104,519 220,351 - Investment Securities, Held to Maturity 169,939 5,014 170,161 - Loans Held for Sale 114,039 - 114,039 - Equity Securities (1) 3,589 - 3,589 - Interest Rate Swap Derivative 574 - 574 - Mortgage Banking IRLC Derivative 4,825 - - 4,825 Mortgage Servicing Rights 3,452 - - 3,451 Loans, Net of Allowance for Credit Losses $ 1,982,610 $ - $ - $ 1,990,740 LIABILITIES: Deposits $ 3,217,560 $ - $ 3,217,615 $ - Short-Term 79,654 - 79,654 - Subordinated Notes Payable 52,887 - 43,449 - Long-Term Borrowings 3,057 - 3,174 - Mortgage Banking Hedge Derivative $ 907 - $ 907 $ - (1) |
ACCUMULATED OTHER COMPREHENSI_2
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Accumulated other comprehensive income [Abstract] | |
Schedule of activity in accumulated other comprehensive loss, net of tax | Accumulated Securities Other Available Interest Rate Retirement Comprehensive (Dollars in Thousands) Swap Plans Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive (loss) income during the period (3,249) 1,029 1,635 (585) Balance as of September 30, 2021 $ (549) $ 1,457 $ (45,635) $ (44,727) Balance as of January 1, 2020 $ 864 $ - $ (29,045) $ (28,181) Other comprehensive income during the period 2,429 39 - 2,468 Balance as of September 30, 2020 $ 3,293 $ 39 $ (29,045) $ (25,713) |
BUSINESS AND BASIS OF PRESENT_3
BUSINESS AND BASIS OF PRESENTATION - Narrative (Details) - Strategic Wealth Group, LLC [Member] $ in Millions | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Business Acquisition [Line Items] | |
Business Acquisition, Effective Date of Acquisition | Apr. 30, 2021 |
Payments to Acquire Businesses, Gross | $ 4.4 |
Intangible asset acquired | 1.6 |
Goodwill acquired | $ 2.8 |
INVESTMENT SECURITIES (Investme
INVESTMENT SECURITIES (Investment Portfolio Composition) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale | ||
Amortized cost | $ 646,546 | $ 321,191 |
Unrealized Gains | 2,205 | 3,863 |
Unrealized Losses | 2,907 | 184 |
Total Market Value | 645,844 | 324,870 |
Federal Home Loan Bank | 2,000 | 2,900 |
Federal Reserve Bank stock | 4,800 | 4,800 |
Held to Maturity | ||
Amortized Cost | 341,228 | 169,939 |
Unrealized Gains | 3,941 | 5,236 |
Unrealized Losses | 884 | 0 |
Market Value | 344,285 | 175,175 |
Total | ||
Amortized Cost | 987,774 | 491,130 |
Unrealized Gain | 6,146 | 9,099 |
Unrealized Loss | 3,791 | 184 |
Market Value | 990,129 | 500,045 |
U.S. Government Treasury [Member] | ||
Available-for-sale | ||
Amortized cost | 164,806 | 103,547 |
Unrealized Gains | 90 | 972 |
Unrealized Losses | 849 | 0 |
Total Market Value | 164,047 | 104,519 |
Held to Maturity | ||
Amortized Cost | 115,903 | 5,001 |
Unrealized Gains | 0 | 13 |
Unrealized Losses | 348 | 0 |
Market Value | 115,555 | 5,014 |
U.S. Government Agency [Member] | ||
Available-for-sale | ||
Amortized cost | 249,649 | 205,972 |
Unrealized Gains | 1,793 | 2,743 |
Unrealized Losses | 970 | 184 |
Total Market Value | 250,472 | 208,531 |
States and Political Subdivisions [Member] | ||
Available-for-sale | ||
Amortized cost | 43,834 | 3,543 |
Unrealized Gains | 69 | 89 |
Unrealized Losses | 357 | 0 |
Total Market Value | 43,546 | 3,632 |
Mortgage-Backed Securities [Member] | ||
Available-for-sale | ||
Amortized cost | 97,131 | 456 |
Unrealized Gains | 240 | 59 |
Unrealized Losses | 164 | 0 |
Total Market Value | 97,207 | 515 |
Held to Maturity | ||
Amortized Cost | 225,325 | 164,938 |
Unrealized Gains | 3,941 | 5,223 |
Unrealized Losses | 536 | 0 |
Market Value | 228,730 | 170,161 |
Corporate Debt Securities [Member] | ||
Available-for-sale | ||
Amortized cost | 84,331 | 0 |
Unrealized Gains | 13 | 0 |
Unrealized Losses | 567 | 0 |
Total Market Value | 83,777 | 0 |
Equity Securities Bank Stocks [Member] | ||
Available-for-sale | ||
Amortized cost | 6,795 | 7,673 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Total Market Value | $ 6,795 | $ 7,673 |
INVESTMENT SECURITIES (Maturity
INVESTMENT SECURITIES (Maturity Distribution) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Amortized Cost | ||
Due in one year or less | $ 39,614 | |
Due after one through five years | 264,747 | |
Due after five year through ten years | 66,347 | |
Total Amortized cost | 646,546 | $ 321,191 |
Market Value | ||
Due in one year or less | 39,423 | |
Due after one through five years | 263,661 | |
Due after five year through ten years | 65,614 | |
Total Market Value | 645,844 | 324,870 |
Amortized Cost | ||
Due in one year or less | 0 | |
Due after one through five years | 115,903 | |
Due after five year through ten years | 0 | |
Total Investment Securities | 341,228 | 169,939 |
Market Value | ||
Due in one year or less | 0 | |
Due after five year through ten years | 115,555 | |
Due after five year through ten years | 0 | |
Total Investment Securities | 344,285 | 175,175 |
Mortgage-Backed Securities [Member] | ||
Amortized Cost | ||
Due without single maturity date | 97,131 | |
Total Amortized cost | 97,131 | 456 |
Market Value | ||
Due without single maturity date | 97,207 | |
Total Market Value | 97,207 | 515 |
Amortized Cost | ||
Due without single maturity date | 225,325 | |
Total Investment Securities | 225,325 | 164,938 |
Market Value | ||
Due without single maturity date | 228,730 | |
Total Investment Securities | 228,730 | 170,161 |
U.S. Government Agency [Member] | ||
Amortized Cost | ||
Due without single maturity date | 171,912 | |
Total Amortized cost | 249,649 | 205,972 |
Market Value | ||
Due without single maturity date | 173,144 | |
Total Market Value | 250,472 | $ 208,531 |
Amortized Cost | ||
Due without single maturity date | 0 | |
Market Value | ||
Due without single maturity date | 0 | |
Equity Securities [Member] | ||
Amortized Cost | ||
Due without single maturity date | 6,795 | |
Market Value | ||
Due without single maturity date | 6,795 | |
Amortized Cost | ||
Due without single maturity date | 0 | |
Market Value | ||
Due without single maturity date | $ 0 |
INVESTMENT SECURITIES (Unrealiz
INVESTMENT SECURITIES (Unrealized Losses on Investment Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale securities | ||
Less Than 12 Months, Market Value | $ 387,034 | $ 28,266 |
Less Than 12 Months, Unrealized Losses | 2,796 | 156 |
Greater Than 12 Months, Market Value | 12,168 | 4,670 |
Greater Than 12 Months, Unrealized Losses | 111 | 28 |
Total Market Value | 399,202 | 32,936 |
Total Unrealized Losses | 2,907 | 184 |
Held-to-maturity, Debt Securities | ||
Less Than 12 Months, Market Value | 208,578 | |
Less Than 12 Months, Unrealized Losses | 884 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 208,578 | |
Total Unrealized Losses | 884 | |
U.S. Government Treasury [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Market Value | 143,394 | |
Less Than 12 Months, Unrealized Losses | 849 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 143,394 | |
Total Unrealized Losses | 849 | |
Held-to-maturity, Debt Securities | ||
Less Than 12 Months, Market Value | 115,555 | |
Less Than 12 Months, Unrealized Losses | 348 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 115,555 | |
Total Unrealized Losses | 348 | |
U.S. Government Agency [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Market Value | 118,969 | 28,266 |
Less Than 12 Months, Unrealized Losses | 859 | 156 |
Greater Than 12 Months, Market Value | 12,168 | 4,670 |
Greater Than 12 Months, Unrealized Losses | 111 | 28 |
Total Market Value | 131,137 | 32,936 |
Total Unrealized Losses | 970 | $ 184 |
States and Political Subdivisions [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Market Value | 27,355 | |
Less Than 12 Months, Unrealized Losses | 357 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 27,355 | |
Total Unrealized Losses | 357 | |
Mortgage-Backed Securities [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Market Value | 40,012 | |
Less Than 12 Months, Unrealized Losses | 164 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 40,012 | |
Total Unrealized Losses | 164 | |
Held-to-maturity, Debt Securities | ||
Less Than 12 Months, Market Value | 93,023 | |
Less Than 12 Months, Unrealized Losses | 536 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 93,023 | |
Total Unrealized Losses | 536 | |
Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Market Value | 57,304 | |
Less Than 12 Months, Unrealized Losses | 567 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 57,304 | |
Total Unrealized Losses | $ 567 |
INVESTMENT SECURITIES (Narrativ
INVESTMENT SECURITIES (Narrative) (Details) | Sep. 30, 2021USD ($)Investment_Positions | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Investments Securities [Abstract] | ||||||
Securities pledged to secure public deposits | $ 312,300,000 | $ 308,200,000 | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 288 | |||||
Available-for-sale Securities and Held-To-Maturity, Continuous Unrealized Loss Position Fair Value, Total | $ 3,800,000 | |||||
Financing Receivable, Allowance for Credit Loss | 21,500,000 | $ 22,175,000 | 23,816,000 | $ 23,137,000 | $ 22,457,000 | $ 13,905,000 |
Nonaccrual | 3,026,000 | $ 5,871,000 | ||||
AFS and HTM [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss | $ 16,000 | |||||
U.S. Government Agency [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 206 | |||||
Municipal securities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 29 | |||||
Corporate Debt Securities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 53 |
LOANS HELD FOR INVESTMENT AND_3
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Portfolio Composition) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loan Portfolio Composition | ||
Loans Held for Investment | $ 1,941,425 | $ 2,006,426 |
Net deferred fees | 100 | |
Commercial, Financial and Agricultural [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 218,929 | 393,930 |
Real Estate - Construction [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 177,443 | 135,831 |
Real Estate - Commercial Mortgage [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 683,379 | 648,393 |
Real Estate - Residential [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 362,750 | 352,543 |
Loans in Process with outstanding balances | 7,100 | 10,900 |
Real Estate - Home Equity [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 187,642 | 205,479 |
Consumer [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 311,282 | 270,250 |
Overdraft Balances | $ 1,300 | $ 700 |
LOANS HELD FOR INVESTMENT AND_4
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Activity in the allowance for credit losses) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | $ 22,175,000 | $ 22,457,000 | $ 23,816,000 | $ 13,905,000 |
Provision for credit losses | (546,000) | 1,265,000 | (3,042,000) | 7,870,000 |
Charge-Offs | (1,788,000) | (1,282,000) | (3,765,000) | (4,776,000) |
Recoveries | 1,659,000 | 697,000 | 4,491,000 | 2,869,000 |
Net Charge-Offs | (129,000) | (585,000) | 726,000 | (1,907,000) |
Ending Balance | 21,500,000 | 23,137,000 | 21,500,000 | 23,137,000 |
Impact of Adoption of ASC 326 [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 3,269,000 | |||
Commercial, Financial and Agricultural [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 1,972,000 | 2,468,000 | 2,204,000 | 1,675,000 |
Provision for credit losses | 178,000 | (195,000) | (192,000) | 544,000 |
Charge-Offs | (37,000) | (137,000) | (138,000) | (685,000) |
Recoveries | 66,000 | 74,000 | 305,000 | 188,000 |
Net Charge-Offs | 29,000 | (63,000) | 167,000 | (497,000) |
Ending Balance | 2,179,000 | 2,210,000 | 2,179,000 | 2,210,000 |
Commercial, Financial and Agricultural [Member] | Impact of Adoption of ASC 326 [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 488,000 | |||
Real Estate - Construction [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 2,759,000 | 1,955,000 | 2,479,000 | 370,000 |
Provision for credit losses | 517,000 | 161,000 | 797,000 | 1,444,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Recoveries | 10,000 | 0 | 10,000 | 0 |
Net Charge-Offs | 10,000 | 0 | 10,000 | 0 |
Ending Balance | 3,286,000 | 2,116,000 | 3,286,000 | 2,116,000 |
Real Estate - Construction [Member] | Impact of Adoption of ASC 326 [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 302,000 | |||
Real Estate - Commercial Mortgage [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 7,569,000 | 6,640,000 | 7,029,000 | 3,416,000 |
Provision for credit losses | (1,588,000) | 616,000 | (1,719,000) | 2,132,000 |
Charge-Offs | (405,000) | (17,000) | (405,000) | (28,000) |
Recoveries | 169,000 | 30,000 | 840,000 | 291,000 |
Net Charge-Offs | (236,000) | 13,000 | 435,000 | 263,000 |
Ending Balance | 5,745,000 | 7,269,000 | 5,745,000 | 7,269,000 |
Real Estate - Commercial Mortgage [Member] | Impact of Adoption of ASC 326 [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 1,458,000 | |||
Real Estate - Residential [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 4,353,000 | 5,440,000 | 5,440,000 | 3,128,000 |
Provision for credit losses | (433,000) | (344,000) | (1,768,000) | 745,000 |
Charge-Offs | (17,000) | (1,000) | (88,000) | (112,000) |
Recoveries | 401,000 | 35,000 | 720,000 | 126,000 |
Net Charge-Offs | 384,000 | 34,000 | 632,000 | 14,000 |
Ending Balance | 4,304,000 | 5,130,000 | 4,304,000 | 5,130,000 |
Real Estate - Residential [Member] | Impact of Adoption of ASC 326 [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 1,243,000 | |||
Real Estate - Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 2,457,000 | 2,753,000 | 3,111,000 | 2,224,000 |
Provision for credit losses | (131,000) | 196,000 | (900,000) | 337,000 |
Charge-Offs | (15,000) | (58,000) | (94,000) | (141,000) |
Recoveries | 46,000 | 41,000 | 240,000 | 138,000 |
Net Charge-Offs | 31,000 | (17,000) | 146,000 | (3,000) |
Ending Balance | 2,357,000 | 2,932,000 | 2,357,000 | 2,932,000 |
Real Estate - Home Equity [Member] | Impact of Adoption of ASC 326 [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 374,000 | |||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | 3,065,000 | 3,201,000 | 3,553,000 | 3,092,000 |
Provision for credit losses | 911,000 | 831,000 | 740,000 | 2,668,000 |
Charge-Offs | (1,314,000) | (1,069,000) | (3,040,000) | (3,810,000) |
Recoveries | 967,000 | 517,000 | 2,376,000 | 2,126,000 |
Net Charge-Offs | (347,000) | (552,000) | (664,000) | (1,684,000) |
Ending Balance | $ 3,629,000 | $ 3,480,000 | $ 3,629,000 | 3,480,000 |
Consumer [Member] | Impact of Adoption of ASC 326 [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Balance | $ (596,000) |
LOANS HELD FOR INVESTMENT AND_5
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Loan Portfolio Aging) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 3,026 | $ 5,871 |
Total Loans | 1,941,425 | 2,006,426 |
Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 3,360 | 4,594 |
Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 1,935,039 | 1,995,961 |
30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 2,870 | 2,743 |
60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 490 | 1,851 |
90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 218,929 | |
Nonaccrual loans | 41 | 161 |
Total Loans | 218,929 | 393,930 |
Commercial, Financial and Agricultural [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 535 | 318 |
Commercial, Financial and Agricultural [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 218,353 | 393,451 |
Commercial, Financial and Agricultural [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 499 | 194 |
Commercial, Financial and Agricultural [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 36 | 124 |
Commercial, Financial and Agricultural [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 177,443 | |
Nonaccrual loans | 0 | 179 |
Total Loans | 177,443 | 135,831 |
Real Estate - Construction [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 717 |
Real Estate - Construction [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 177,443 | 134,935 |
Real Estate - Construction [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Construction [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 717 |
Real Estate - Construction [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 683,379 | |
Nonaccrual loans | 0 | 1,412 |
Total Loans | 683,379 | 648,393 |
Real Estate - Commercial Mortgage [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 364 | 293 |
Real Estate - Commercial Mortgage [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 683,015 | 646,688 |
Real Estate - Commercial Mortgage [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 364 | 293 |
Real Estate - Commercial Mortgage [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 362,750 | |
Nonaccrual loans | 1,977 | 3,130 |
Total Loans | 362,750 | 352,543 |
Real Estate - Residential [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 912 | 905 |
Real Estate - Residential [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 359,861 | 348,508 |
Real Estate - Residential [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 735 | 375 |
Real Estate - Residential [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 177 | 530 |
Real Estate - Residential [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 187,642 | |
Nonaccrual loans | 966 | 695 |
Total Loans | 187,642 | 205,479 |
Real Estate - Home Equity [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 95 | 463 |
Real Estate - Home Equity [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 186,581 | 204,321 |
Real Estate - Home Equity [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 76 | 325 |
Real Estate - Home Equity [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 19 | 138 |
Real Estate - Home Equity [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 311,282 | |
Nonaccrual loans | 42 | 294 |
Total Loans | 311,282 | 270,250 |
Consumer [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 1,454 | 1,898 |
Consumer [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 309,786 | 268,058 |
Consumer [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 1,196 | 1,556 |
Consumer [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 258 | 342 |
Consumer [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND_6
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Recorded Investment In Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | $ 1,647 | $ 3,283 |
Nonaccrual With No ACL | 1,379 | 2,588 |
90+ Days Still Accruing | 0 | 0 |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 41 | 161 |
Nonaccrual With No ACL | 0 | 0 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 0 | 179 |
Nonaccrual With No ACL | 0 | 0 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 0 | 337 |
Nonaccrual With No ACL | 0 | 1,075 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 1,061 | 1,617 |
Nonaccrual With No ACL | 916 | 1,513 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 503 | 695 |
Nonaccrual With No ACL | 463 | 0 |
90+ Days Still Accruing | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 42 | 294 |
Nonaccrual With No ACL | 0 | 0 |
90+ Days Still Accruing | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND_7
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Collateral-dependent loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | $ 2,600 | $ 7,100 |
Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 2,556 | 7,141 |
Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 29 |
Commercial, Financial and Agricultural [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Commercial, Financial and Agricultural [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 3,900 |
Real Estate - Commercial Mortgage [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Real Estate - Residential [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 1,891 | 3,022 |
Real Estate - Residential [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Real Estate - Home Equity [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 665 | 219 |
Real Estate - Home Equity [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Consumer [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Consumer [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | $ 0 | $ 29 |
LOANS HELD FOR INVESTMENT AND_8
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Loans held for investment by years of origination) (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | $ 51,866 |
2020 | 38,463 |
2019 | 34,296 |
2018 | 22,755 |
2017 | 10,382 |
Prior | 14,198 |
Revolving Loans | 46,969 |
Total | 218,929 |
Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 75,222 |
2020 | 72,664 |
2019 | 23,588 |
2018 | 429 |
2017 | 132 |
Prior | 0 |
Revolving Loans | 5,408 |
Total | 177,443 |
Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 141,143 |
2020 | 143,872 |
2019 | 92,320 |
2018 | 112,786 |
2017 | 69,089 |
Prior | 104,255 |
Revolving Loans | 19,914 |
Total | 683,379 |
Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 106,901 |
2020 | 72,668 |
2019 | 45,464 |
2018 | 30,726 |
2017 | 28,837 |
Prior | 69,540 |
Revolving Loans | 8,614 |
Total | 362,750 |
Real Estate - Home Equity [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 99 |
2020 | 56 |
2019 | 452 |
2018 | 176 |
2017 | 749 |
Prior | 1,789 |
Revolving Loans | 184,321 |
Total | 187,642 |
Real Estate - Home Equity [Member] | Performing Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 99 |
2020 | 56 |
2019 | 452 |
2018 | 176 |
2017 | 749 |
Prior | 1,756 |
Revolving Loans | 183,388 |
Total | 186,676 |
Real Estate - Home Equity [Member] | Nonperforming Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 0 |
2018 | 0 |
2017 | 0 |
Prior | 33 |
Revolving Loans | 933 |
Total | 966 |
Consumer [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 136,780 |
2020 | 73,778 |
2019 | 45,269 |
2018 | 31,554 |
2017 | 13,377 |
Prior | 4,667 |
Revolving Loans | 5,857 |
Total | 311,282 |
Consumer [Member] | Performing Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 136,780 |
2020 | 73,778 |
2019 | 45,252 |
2018 | 31,530 |
2017 | 13,377 |
Prior | 4,666 |
Revolving Loans | 5,857 |
Total | 311,240 |
Consumer [Member] | Nonperforming Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 17 |
2018 | 24 |
2017 | 0 |
Prior | 1 |
Revolving Loans | 0 |
Total | 42 |
Pass [Member] | Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 51,866 |
2020 | 38,453 |
2019 | 34,226 |
2018 | 22,539 |
2017 | 10,376 |
Prior | 14,072 |
Revolving Loans | 46,969 |
Total | 218,501 |
Pass [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 75,222 |
2020 | 72,664 |
2019 | 23,588 |
2018 | 429 |
2017 | 132 |
Prior | 0 |
Revolving Loans | 5,408 |
Total | 177,443 |
Pass [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 139,623 |
2020 | 142,833 |
2019 | 87,251 |
2018 | 103,059 |
2017 | 67,392 |
Prior | 97,842 |
Revolving Loans | 19,690 |
Total | 657,690 |
Pass [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 105,611 |
2020 | 72,091 |
2019 | 44,393 |
2018 | 29,792 |
2017 | 28,447 |
Prior | 66,748 |
Revolving Loans | 8,538 |
Total | 355,620 |
Special Mention [Member] | Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 70 |
2018 | 12 |
2017 | 0 |
Prior | 49 |
Revolving Loans | 0 |
Total | 131 |
Special Mention [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 0 |
2018 | 0 |
2017 | 0 |
Prior | 0 |
Revolving Loans | 0 |
Total | 0 |
Special Mention [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 454 |
2019 | 1,552 |
2018 | 9,727 |
2017 | 431 |
Prior | 5,423 |
Revolving Loans | 0 |
Total | 17,587 |
Special Mention [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 136 |
2019 | 20 |
2018 | 122 |
2017 | 169 |
Prior | 419 |
Revolving Loans | 0 |
Total | 866 |
Substandard [Member] | Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 10 |
2019 | 0 |
2018 | 204 |
2017 | 6 |
Prior | 77 |
Revolving Loans | 0 |
Total | 297 |
Substandard [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 0 |
2018 | 0 |
2017 | 0 |
Prior | 0 |
Revolving Loans | 0 |
Total | 0 |
Substandard [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 1,520 |
2020 | 585 |
2019 | 3,517 |
2018 | 0 |
2017 | 1,266 |
Prior | 990 |
Revolving Loans | 224 |
Total | 8,102 |
Substandard [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 1,290 |
2020 | 441 |
2019 | 1,051 |
2018 | 812 |
2017 | 221 |
Prior | 2,373 |
Revolving Loans | 76 |
Total | $ 6,264 |
LOANS HELD FOR INVESTMENT AND_9
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES, (Narratives) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021USD ($)Contracts | Sep. 30, 2020USD ($)Contracts | Sep. 30, 2021USD ($)Contracts | Sep. 30, 2020USD ($)Contracts | Dec. 31, 2020USD ($) | |
Provision for credit losses | $ (546) | $ 1,265 | $ (3,042) | $ 7,870 | |
Net loan charge-offs | 129 | $ 585 | (726) | $ 1,907 | |
Change in financing receivable allowance | (2,300) | ||||
Accrued interest receivable | 5,600 | 5,600 | $ 6,900 | ||
TDRs | 8,500 | 8,500 | 14,300 | ||
TDRs performing in accordance with modified terms | 7,900 | 13,900 | |||
Estimated loan loss reserves | 300 | 300 | 600 | ||
Real estate loans for which formal foreclosure proceedings were in process | $ 1,400 | $ 1,400 | 1,600 | ||
Number of Contracts | Contracts | 0 | 3 | 3 | ||
Number of loan contracts classified as TDRs | Contracts | 0 | 0 | 0 | ||
Loan modified with a recorded investment | $ 600 | $ 200 | |||
Net deferred fees | $ 100 | ||||
Loans and Leases Receivable net deferred costs | $ 3,700 | 3,700 | |||
Transfer of loans HFI into loans HFS | 9,400 | ||||
Third party bank [Member] | |||||
Payments to Purchase Mortgage Loans Held-for-sale | $ 17,400 | ||||
Number of loans contracts | Contracts | 10 | ||||
CCHL [Member] | |||||
Payments to Purchase Mortgage Loans Held-for-sale | $ 72,700 |
MORTGAGE BANKING ACTIVITIES (Un
MORTGAGE BANKING ACTIVITIES (Unpaid principal balance of residential mortgage loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Other assets | $ 104,345 | $ 101,370 |
Other liabilities | 113,720 | 102,076 |
Loans held for sale, at fair value | 77,036 | 114,039 |
Residential Mortgage [Member] | ||
Loans held-for-sale | 74,491 | 109,831 |
Loans held for sale, at fair value | 77,036 | 114,039 |
Fair value | 79,204 | 117,957 |
Residential Mortgage [Member] | Loan Commitments (IRLCs) [Member] | ||
Other assets | 87,062 | 147,494 |
Other assets fair value | 1,717 | 4,825 |
Residential Mortgage [Member] | Forward Sales Contracts [Member] | ||
Other liabilities | 102,500 | 158,500 |
Other assets fair value | $ 451 | |
Other liabilities at fair value | $ (907) |
MORTGAGE BANKING ACTIVITIES (Mo
MORTGAGE BANKING ACTIVITIES (Mortgage banking revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Mortgage Servicing Rights Additions | $ 205 | |||
Mortgage banking [Member] | ||||
Net Realized Gains on Sales of Mortgage Loans | 12,132 | $ 21,423 | $ 40,089 | $ 39,410 |
Net Change in Unrealized Gain on Mortgage Loans Held for Sale | (165) | 1,499 | (1,663) | 3,329 |
Net Change in the Fair Value of Mortgage Loan Commitments (IRLCs) | (806) | 691 | (3,108) | 3,833 |
Net Change in the Fair Value of Forward Sales Contracts | 540 | 560 | 1,358 | 791 |
Pair-Offs on Net Settlement of Forward Sales Contracts | (636) | (3,049) | 2,199 | (7,445) |
Mortgage Servicing Rights Additions | 205 | 763 | 845 | 2,813 |
Net orignination fees | 1,013 | 1,096 | 2,905 | 2,902 |
Total mortgage banking revenues | $ 12,283 | $ 22,983 | $ 42,625 | $ 45,633 |
MORTGAGE BANKING ACTIVITIES (Su
MORTGAGE BANKING ACTIVITIES (Summary of mortgage servicing rights) (Details) - Residential Mortgage [Member] $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($)Contracts | Dec. 31, 2020USD ($)Contracts | |
Servicing Assets at Fair Value [Line Items] | ||
Number of residential mortgage loans serviced for others | Contracts | 2,028 | 1,796 |
Outstanding principal balance of residential mortgage loans serviced for others | $ | $ 505,321 | $ 456,135 |
Weighted average interest rate | 3.62% | 3.64% |
Remaining contractual term (in months) | 316 months | 321 months |
MORTGAGE BANKING ACTIVITIES (Ca
MORTGAGE BANKING ACTIVITIES (Capitalized mortgage servicing rights) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Servicing Asset at Fair Value, Amount [Roll Forward | ||||
Beginning Balance | $ 3,710 | $ 2,862 | $ 3,452 | $ 910 |
Additions due to loans sold with servicing retained | 205 | 763 | 845 | 2,813 |
Deletions and amortization | (351) | (277) | (983) | (375) |
Valuation Provision (temporary impairment) | 0 | 0 | 250 | 0 |
Ending Balance | $ 3,564 | $ 3,348 | $ 3,564 | $ 3,348 |
MORTGAGE BANKING ACTIVITIES (ke
MORTGAGE BANKING ACTIVITIES (key unobservable inputs used in determining the fair value) (Details) - $ / LoanContracts | 3 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Maximum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount Rates | 15.00% | 15.00% |
Annual prepayment speeds | 23.82% | 23.64% |
Cost of Servicing (per loan) | 110 | 110 |
Minimum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount Rates | 11.00% | 11.00% |
Annual prepayment speeds | 13.53% | 13.08% |
Cost of Servicing (per loan) | 90 | 90 |
MORTGAGE BANKING ACTIVITIES (Wa
MORTGAGE BANKING ACTIVITIES (Warehouse Line Borrowings) (Details) - Warehouse Line Borrowings [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Short-term Debt [Line Items] | |
Line of credit outstanding | $ 47,844 |
Line of credit agreement expiring October 2021 [Member] | |
Short-term Debt [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 |
Debt Instrument, Description of Variable Rate Basis | Interest is at LIBOR plus 2.25% |
Debt Instrument, Basis Spread on Variable Rate | 2.25% |
Floor rate | 3.50% |
Line of credit outstanding | $ 6,526 |
Cash pledge deposit | $ 100 |
Line of Credit Facility, Expiration Date | Oct. 31, 2021 |
Master Repurchase Agreement [Member] | |
Short-term Debt [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 75,000 |
Debt Instrument, Description of Variable Rate Basis | Interest is at the LIBOR plus 2.24% to 3.00% |
Floor rate | 3.25% |
Line of credit outstanding | $ 21,942 |
Cash pledge deposit | $ 500 |
Master Repurchase Agreement [Member] | Maximum [Member] | |
Short-term Debt [Line Items] | |
Debt Instrument, Basis Spread on Variable Rate | 3.00% |
Master Repurchase Agreement [Member] | Minimum [Member] | |
Short-term Debt [Line Items] | |
Debt Instrument, Basis Spread on Variable Rate | 2.24% |
Line of credit expiring September 30, 2021 [Member] | |
Short-term Debt [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 50,000 |
Debt Instrument, Description of Variable Rate Basis | Interest is at the LIBOR plus 2.75% |
Debt Instrument, Basis Spread on Variable Rate | 2.75% |
Floor rate | 3.25% |
Line of credit outstanding | $ 19,376 |
Line of Credit Facility, Expiration Date | Sep. 30, 2021 |
MORTGAGE BANKING ACTIVITIES (Na
MORTGAGE BANKING ACTIVITIES (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Dec. 31, 2020 | |
Mortgage Banking Activities [Abstract] | ||||
Residential mortgage loans held for sale that were 90 days or more outstanding | $ 0 | $ 0 | $ 600,000 | |
Percentage of FNMA loan type of total loans serviced | 60.00% | 60.00% | ||
Percentage of GNMA loan type of total loans serviced | 9.00% | 9.00% | ||
Percentage of Private Investor loan type of total loans serviced | 31.00% | 31.00% | ||
Weighted average prepayment speed | 17.34% | 17.34% | 17.10% | |
Warehouse lines of credit extended to CCHL | $ 50,000,000 | $ 50,000,000 | ||
Balance of lines of credit receivable from CCHL | 27,000,000 | $ 27,000,000 | ||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | $ 0 | $ 0 | ||
CCHL Subsidiary [Member] | ||||
Servicing Asset at Amortized Cost [Line Items] | ||||
Interest in CCHL subsidiary entity | 51.00% | 51.00% | ||
Government National Mortgage Association (GNMA) [Member] | Delinquent or defaulted mortgage loans [Member] | ||||
Servicing Asset at Amortized Cost [Line Items] | ||||
Servicing Asset at Amortized Cost | $ 3,000,000 | $ 3,000,000 | $ 4,900,000 | |
Payments to Acquire Mortgage Servicing Rights (MSR) | $ 0 | $ 2,200,000 |
DERIVATIVES (Cash flow hedges i
DERIVATIVES (Cash flow hedges included in the Consolidated Statement of Financial Condition) (Details) - Interest rate swaps related to subordinated debt [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 30,000 | $ 30,000 |
Fair Value | $ 1,952 | $ 574 |
Weighted average rate paid (fixed) | 2.50% | |
Weighted average maturity years | 8 years 9 months 18 days | 9 years 6 months |
LIBOR plus a weighted average margin | 1.83% |
DERIVATIVES (Net gains (losses)
DERIVATIVES (Net gains (losses) recorded in accumulated other comprehensive income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Collateral liability | $ 2,000 | $ 2,000 | $ 500 | ||
Interest rate product [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Amount of Gain (Loss) Recognized in AOCI | 128 | $ 129 | 1,029 | $ 21 | |
Amount of Gain (Loss) Reclassified from AOCI to Income | (41) | $ (28) | (111) | $ (31) | |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 200 | $ 200 |
LEASES (Narrative) (Details)
LEASES (Narrative) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($)BankingOffices | |
Lesse lease description [Line Items] | |
Lessee operating lease term of contract | 15 years |
Lesse operating lease description | Operating leases with an initial term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. |
Operating lease right of use asset | $ 11,900 |
Present Value of Lease liability | $ 12,519 |
Lessee, Operating Lease, Lease Not yet Commenced, Description | Payments for the banking offices are expected to commence after the construction period ends, which is expected to occur during the second quarter of 2022 and the third quarter of 2022. |
Operating lease liabilities, not yet commenced | $ 4,800 |
Number of offices to lease | BankingOffices | 2 |
Lease payment transaction [Member] | |
Lesse lease description [Line Items] | |
Present Value of Lease liability | $ 600 |
Operating lease, minimum annual payment | $ 200 |
Minimum [Member] | |
Lesse lease description [Line Items] | |
Remaining lease terms | 1 year |
Maximum [Member] | |
Lesse lease description [Line Items] | |
Remaining lease terms | 44 years |
LEASES (Lease expense and other
LEASES (Lease expense and other information related to operating leases) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Lease expenses: | ||||
Operating lease expense | $ 369 | $ 273 | $ 1,075 | $ 695 |
Short term lease expense | 181 | 145 | 490 | 378 |
Total lease expense | 550 | 418 | 1,565 | 1,073 |
Other information related to leases [Abstract] | ||||
Operating cash flows from operating leases | 410 | 271 | 1,197 | 695 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 269 | $ 85 | $ 784 | $ 5,206 |
Weighted-average remaining lease term - operating leases (in years) | 25 years | 15 years 4 months 24 days | 25 years | 15 years 4 months 24 days |
Weighted-average discount rate - operating leases | 2.00% | 2.30% | 2.00% | 2.30% |
LEASES (Maturity of remaining l
LEASES (Maturity of remaining lease liabilities) (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Summary of the maturity of remaining lease liabilities: | |
2021 | $ 413 |
2022 | 1,499 |
2023 | 1,129 |
2024 | 1,088 |
2025 | 911 |
2026 and thereafter | 11,199 |
Total | 16,239 |
Less: Interest | (3,720) |
Present Value of Lease Liabilities | $ 12,519 |
EMPLOYEE BENEFIT PLANS (Compone
EMPLOYEE BENEFIT PLANS (Components of the net periodic benefit cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Components of Net Periodic Benefit Costs: | |||||
Settlement Loss | $ 500 | $ 2,000 | $ 0 | $ 2,500 | $ 0 |
Defined Benefit Pension Plan [Member] | |||||
Components of Net Periodic Benefit Costs: | |||||
Service Cost | 1,743 | 1,457 | 5,229 | 4,371 | |
Interest Cost | 1,221 | 1,400 | 3,664 | 4,212 | |
Expected Return on Plan Assets | (2,787) | (2,748) | (8,361) | (8,245) | |
Prior Service Cost Amortization | 4 | 4 | 11 | 11 | |
Net Loss Amortization | 1,691 | 974 | 5,073 | 2,959 | |
Settlement Loss | 500 | 0 | 2,500 | 0 | |
Special Termination Charge | 0 | 0 | 0 | 61 | |
Net Periodic Benefit Cost | $ 2,372 | $ 1,087 | $ 8,116 | $ 3,369 | |
Discount Rate | 2.88% | 3.53% | 2.88% | 3.53% | |
Long-Term Rate of Return on Assets | 6.75% | 7.00% | 6.75% | 7.00% | |
Supplemental Executive Retirement Plan [Member] | |||||
Components of Net Periodic Benefit Costs: | |||||
Service Cost | $ 9 | $ 10 | $ 27 | $ 21 | |
Interest Cost | 61 | 83 | 183 | 238 | |
Prior Service Cost Amortization | 69 | 109 | 157 | 218 | |
Net Loss Amortization | 243 | 93 | 683 | 410 | |
Net Periodic Benefit Cost | $ 382 | $ 295 | $ 1,050 | $ 887 | |
Discount Rate | 2.38% | 3.16% | 2.38% | 3.16% |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Company's off-balance sheet obligations) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loss Contingencies [Line Items] | ||
Fixed | $ 220,318 | $ 166,922 |
Variable | 535,695 | 596,572 |
Total | 756,013 | 763,494 |
Commitments to Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 214,666 | 160,372 |
Variable | 535,695 | 596,572 |
Total | 750,361 | 756,944 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 5,652 | 6,550 |
Variable | 0 | 0 |
Total | $ 5,652 | $ 6,550 |
COMMITMENTS AND CONTINGENCIES_3
COMMITMENTS AND CONTINGENCIES (Allowance for credit losses for off-balance sheet credit commitments) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Beginning Balance | $ 2,587 | $ 1,033 | $ 1,644 | $ 157 |
Provision for Credit Losses | 530 | 434 | 1,473 | 434 |
Ending Balance | 3,117 | 1,467 | 3,117 | 1,467 |
Adoption of ASC 326 [Member] | ||||
Beginning Balance | $ 0 | $ 0 | $ 0 | $ 876 |
COMMITMENTS AND CONTINGENCIES N
COMMITMENTS AND CONTINGENCIES Narratives (Details) | 3 Months Ended |
Sep. 30, 2021USD ($) | |
Loss Contingencies [Line Items] | |
Loss Contingency Quarterly Accrual Payments until settled | $ 206,000 |
FAIR VALUE MEASUREMENTS (Summar
FAIR VALUE MEASUREMENTS (Summary of fair values for assets and liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Mortgage Banking Hedge Derivative [Member] | ||
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | $ 0 | |
Level 1 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 0 | |
Level 2, Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 0 | |
Level 3, Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 1,952 | $ 574 |
Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 451 | 0 |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | (907) | |
Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 1,717 | 4,825 |
Fair Value, Measurements, Recurring [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 77,036 | 114,039 |
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 3,830 | |
Fair Value, Measurements, Recurring [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 164,047 | 104,519 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 250,472 | 208,531 |
Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 43,546 | 3,632 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 97,207 | 515 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 83,777 | |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 6,795 | 7,673 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 164,047 | 104,519 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Corporate Debt Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Equity Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 1,952 | 574 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 451 | 0 |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | (907) | |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 77,036 | 114,039 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 250,472 | 208,531 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 43,546 | 3,632 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 97,207 | 515 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Corporate Debt Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 83,777 | |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Equity Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 6,795 | 7,673 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 1,717 | 4,825 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 3,830 | |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Corporate Debt Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Equity Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS (Financ
FAIR VALUE MEASUREMENTS (Financial Instruments) (Details) - USD ($) | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
ASSETS: | ||||||
Investment Securities, Available for Sale | $ 645,844,000 | $ 324,870,000 | ||||
Investment securities, held to maturity, fair value | 344,285,000 | 175,175,000 | ||||
Loans Held for Sale | 77,036,000 | 114,039,000 | ||||
Mortgage Servicing Rights | 3,564,000 | $ 3,710,000 | 3,452,000 | $ 3,348,000 | $ 2,862,000 | $ 910,000 |
Loans, Net of Allowance for Credit Losses | 1,919,925,000 | 1,982,610,000 | ||||
Fair value inputs, Level 1 [Member] | ||||||
ASSETS: | ||||||
Cash | 73,132,000 | 67,919,000 | ||||
Short-Term Investments | 708,988,000 | 860,630,000 | ||||
Investment Securities, Available for Sale | 164,047,000 | 104,519,000 | ||||
Investment Securities, Held to Maturity | 115,555,000 | 5,014,000 | ||||
Equity Securities | 0 | 0 | ||||
Loans Held for Sale | 0 | 0 | ||||
Interest Rate Swap Derivative | 0 | 0 | ||||
Mortgage Servicing Rights | 0 | 0 | ||||
Loans, Net of Allowance for Credit Losses | 0 | 0 | ||||
LIABILITIES: | ||||||
Deposits | 0 | 0 | ||||
Short-Term Borrowings | 0 | 0 | ||||
Subordinated Notes Payable | 0 | 0 | ||||
Long-Term Borrowings | 0 | 0 | ||||
Fair value inputs, Level 1 [Member] | Mortgage Banking Hedge Derivative [Member] | ||||||
ASSETS: | ||||||
Derivative Assets | 0 | |||||
LIABILITIES: | ||||||
Mortgage Banking Derivative Liability | 0 | 0 | ||||
Fair value inputs, Level 1 [Member] | Mortgage Banking IRLC Derivative [Member] | ||||||
ASSETS: | ||||||
Derivative Assets | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
ASSETS: | ||||||
Cash | 0 | 0 | ||||
Short-Term Investments | 0 | 0 | ||||
Investment Securities, Available for Sale | 481,797,000 | 220,351,000 | ||||
Investment Securities, Held to Maturity | 228,730,000 | 170,161,000 | ||||
Equity Securities | 3,588,000 | 3,589,000 | ||||
Loans Held for Sale | 77,036,000 | 114,039,000 | ||||
Interest Rate Swap Derivative | 1,952,000 | 574,000 | ||||
Mortgage Servicing Rights | 0 | 0 | ||||
Loans, Net of Allowance for Credit Losses | 0 | 0 | ||||
LIABILITIES: | ||||||
Deposits | 3,327,728,000 | 3,217,615,000 | ||||
Short-Term Borrowings | 51,410,000 | 79,654,000 | ||||
Subordinated Notes Payable | 42,359,000 | 43,449,000 | ||||
Long-Term Borrowings | 1,681,000 | 3,174,000 | ||||
Fair Value, Inputs, Level 2 [Member] | Mortgage Banking Hedge Derivative [Member] | ||||||
ASSETS: | ||||||
Derivative Assets | 451,000 | |||||
LIABILITIES: | ||||||
Mortgage Banking Derivative Liability | 0 | 907,000 | ||||
Fair Value, Inputs, Level 2 [Member] | Mortgage Banking IRLC Derivative [Member] | ||||||
ASSETS: | ||||||
Derivative Assets | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | ||||||
ASSETS: | ||||||
Cash | 0 | 0 | ||||
Short-Term Investments | 0 | 0 | ||||
Investment Securities, Available for Sale | 0 | 0 | ||||
Investment Securities, Held to Maturity | 0 | 0 | ||||
Equity Securities | 0 | 0 | ||||
Loans Held for Sale | 0 | 0 | ||||
Interest Rate Swap Derivative | 0 | 0 | ||||
Mortgage Servicing Rights | 3,830,000 | 3,451,000 | ||||
Loans, Net of Allowance for Credit Losses | 1,919,442,000 | 1,990,740,000 | ||||
LIABILITIES: | ||||||
Deposits | 0 | 0 | ||||
Short-Term Borrowings | 0 | 0 | ||||
Subordinated Notes Payable | 0 | 0 | ||||
Long-Term Borrowings | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Mortgage Banking Hedge Derivative [Member] | ||||||
ASSETS: | ||||||
Derivative Assets | 0 | |||||
LIABILITIES: | ||||||
Mortgage Banking Derivative Liability | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Mortgage Banking IRLC Derivative [Member] | ||||||
ASSETS: | ||||||
Derivative Assets | 1,717,000 | 4,825,000 | ||||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ||||||
ASSETS: | ||||||
Cash | 73,132,000 | 67,919,000 | ||||
Short-Term Investments | 708,988,000 | 860,630,000 | ||||
Investment Securities, Available for Sale | 645,844,000 | 324,870,000 | ||||
Investment Securities, Held to Maturity | 341,228,000 | 169,939,000 | ||||
Equity Securities | 3,588,000 | 3,589,000 | ||||
Loans Held for Sale | 77,036,000 | 114,039,000 | ||||
Interest Rate Swap Derivative | 1,952,000 | 574,000 | ||||
Mortgage Servicing Rights | 3,564,000 | 3,452,000 | ||||
Loans, Net of Allowance for Credit Losses | 1,919,925,000 | 1,982,610,000 | ||||
LIABILITIES: | ||||||
Deposits | 3,465,962,000 | 3,217,560,000 | ||||
Short-Term Borrowings | 51,410,000 | 79,654,000 | ||||
Subordinated Notes Payable | 52,887,000 | 52,887,000 | ||||
Long-Term Borrowings | 1,610,000 | 3,057,000 | ||||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Mortgage Banking Hedge Derivative [Member] | ||||||
ASSETS: | ||||||
Derivative Assets | 451,000 | |||||
LIABILITIES: | ||||||
Mortgage Banking Derivative Liability | 0 | 907,000 | ||||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Mortgage Banking IRLC Derivative [Member] | ||||||
ASSETS: | ||||||
Derivative Assets | $ 1,717,000 | $ 4,825,000 |
FAIR VALUE MEASUREMENTS (Narrat
FAIR VALUE MEASUREMENTS (Narratives) (Details) - USD ($) | 7 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2021 | Dec. 31, 2020 | |
Fair Value measurements [Abstract] | |||
Level 3 issuances | $ 34,000,000 | $ 26,200,000 | |
Level 3 transfers | $ 40,300,000 | 38,600,000 | |
Collateral-dependent loans | 2,600,000 | $ 7,100,000 | |
Valuation allowance | 100,000 | $ 100,000 | |
valuation allowance for loan servicing rights | $ 0 |
ACCUMULATED OTHER COMPREHENSI_3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Activity in accumulated other comprehensive loss, net of tax | ||||
Balance, Begining | $ (44,142) | $ (28,181) | ||
Other comprehensive (loss) income during the period | $ (1,304) | $ (457) | (585) | 2,468 |
Balance, Ending | (44,727) | (25,713) | (44,727) | (25,713) |
Interest Rate Swap [Member] | ||||
Activity in accumulated other comprehensive loss, net of tax | ||||
Balance, Begining | 428 | 0 | ||
Other comprehensive (loss) income during the period | 1,029 | 39 | ||
Balance, Ending | 1,457 | 39 | 1,457 | 39 |
Securities Available for Sale [Member] | ||||
Activity in accumulated other comprehensive loss, net of tax | ||||
Balance, Begining | 2,700 | 864 | ||
Other comprehensive (loss) income during the period | (3,249) | 2,429 | ||
Balance, Ending | (549) | 3,293 | (549) | 3,293 |
Retirement Plans [Member] | ||||
Activity in accumulated other comprehensive loss, net of tax | ||||
Balance, Begining | (47,270) | (29,045) | ||
Other comprehensive (loss) income during the period | 1,635 | 0 | ||
Balance, Ending | $ (45,635) | $ (29,045) | $ (45,635) | $ (29,045) |