Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 19, 2021 | Jun. 30, 2020 | |
Cover [Abstract] | |||
Entity Interactive Data Current | Yes | ||
Title of 12(b) Security | Common Stock, $2.50 par value | ||
Entity Address, State or Province | WV | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Entity Registrant Name | CITY HOLDING COMPANY | ||
Entity Central Index Key | 0000726854 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Common Stock, Shares Outstanding | 15,734,396 | ||
Trading Symbol | CHCO | ||
Entity Public Float | $ 1,000,000 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Incorporation, State or Country Code | WV | ||
Entity Tax Identification Number | 55-0619957 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 0-11733 | ||
Entity Address, Address Line One | 25 Gatewater Road | ||
Entity Address, City or Town | Charleston | ||
Entity Address, Postal Zip Code | 25313 | ||
City Area Code | 304 | ||
Local Phone Number | 769-1100 | ||
Security Exchange Name | NASDAQ | ||
ICFR Auditor Attestation Flag | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 77,412 | $ 88,658 |
Interest-bearing deposits in depository institutions | 451,247 | 51,486 |
Cash and Cash Equivalents | 528,659 | 140,144 |
Investment securities available for sale, at fair value | 1,178,789 | 810,106 |
Investment securities held-to-maturity, at amortized cost (approximate fair value at December 31, 2019 - $50,598) | 0 | 49,036 |
Other securities | 27,372 | 28,490 |
Total Investment Securities | 1,206,161 | 887,632 |
Loans and Leases Receivable, Gross | 3,622,119 | 3,616,099 |
Allowance for credit losses | (24,549) | (11,589) |
Net Loans | 3,597,570 | 3,604,510 |
Bank owned life insurance | 118,243 | 115,261 |
Premises and equipment, net | 76,925 | 76,965 |
Accrued interest receivable | 15,793 | 11,569 |
Deferred Income Tax Assets, Net | 0 | 6,669 |
Goodwill and other intangible assets, net | 118,592 | 120,241 |
Other assets | 96,697 | 55,765 |
Total Assets | 5,758,640 | 5,018,756 |
Deposits: | ||
Noninterest-bearing | 1,176,990 | 805,087 |
Interest-bearing: | ||
Demand deposits | 1,027,201 | 896,465 |
Savings deposits | 1,188,003 | 1,009,771 |
Time deposits | 1,260,022 | 1,364,571 |
Total Deposits | 4,652,216 | 4,075,894 |
Short-term Debt [Abstract] | ||
Securities Sold under Agreements to Repurchase | 295,956 | 211,255 |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | 0 | 4,056 |
Deferred Income Tax Liabilities, Net | 3,202 | 0 |
Other liabilities | 106,160 | 69,568 |
Total Liabilities | 5,057,534 | 4,360,773 |
Shareholders’ Equity | ||
Preferred stock, par value $25 per share: 500,000 shares authorized; — issued | 0 | 0 |
Common stock, par value $2.50 per share: 50,000,000 shares authorized; 19,047,548 shares issued at December 31, 2020 and 2019, less 3,280,040 and 2,744,109 shares in treasury, respectively | 47,619 | 47,619 |
Capital surplus | 171,304 | 170,309 |
Retained earnings | 589,988 | 539,253 |
Cost of common stock in treasury | (139,038) | (105,038) |
Accumulated other comprehensive income (loss): | ||
Unrealized gain on securities available-for-sale | 36,894 | 12,110 |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | 5,661 | 6,270 |
Total Accumulated Other Comprehensive Income (Loss) | 31,233 | 5,840 |
Total Shareholders’ Equity | 701,106 | 657,983 |
Total Liabilities and Shareholders’ Equity | $ 5,758,640 | $ 5,018,756 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Held-to-maturity, Parenthetical Disclosure [Abstract] | ||
Debt Securities, Held-to-maturity, Fair Value | $ 50,598 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, par value | $ 25 | $ 25 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 0 | 0 |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Common stock, par value | $ 2.50 | $ 2.50 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 19,047,548 | 19,047,548 |
Common stock, treasury shares | 3,280,040 | 2,744,109 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest Income | |||
Interest and fees on loans | $ 150,498 | $ 170,012 | $ 142,055 |
Interest on investment securities: | |||
Taxable | 23,355 | 23,389 | 17,337 |
Tax-exempt | 3,914 | 2,967 | 2,843 |
Interest Income, Deposits with Financial Institutions | 492 | 1,332 | 1,666 |
Total Interest Income | 178,259 | 197,700 | 163,901 |
Interest Expense | |||
Interest on deposits | 22,522 | 32,666 | 21,397 |
Interest on short-term borrowings | 993 | 3,491 | 3,415 |
Interest on long-term debt | 100 | 182 | 880 |
Total Interest Expense | 23,615 | 36,339 | 25,692 |
Net Interest Income | 154,644 | 161,361 | 138,209 |
Financing Receivable, Credit Loss, Expense (Reversal) | 10,722 | (1,250) | (2,310) |
Net Interest Income After Provision for (recovery of) Credit Losses | 143,922 | 162,611 | 140,519 |
Non-Interest Income | |||
Net gains on sale of investment securities | 62 | 69 | 0 |
Equity Securities, FV-NI, Unrealized Gain (Loss) | (863) | 888 | (90) |
Revenue from Contract with Customer, Including Assessed Tax | 61,220 | 63,767 | 57,453 |
Bank owned life insurance | 4,424 | 3,766 | 3,090 |
Gain on Sale of Investments | 17,837 | 0 | 0 |
Other income | 4,692 | 4,000 | 2,962 |
Total Non-Interest Income | 82,680 | 68,490 | 60,564 |
Non-Interest Expense | |||
Salaries and employee benefits | 62,074 | 62,138 | 54,385 |
Occupancy related expenses | 9,765 | 10,595 | 9,323 |
Equipment and software related expenses | 10,200 | 8,964 | 7,729 |
FDIC insurance expense | 884 | 638 | 1,251 |
Advertising | 2,776 | 3,344 | 2,974 |
Bankcard expenses | 5,893 | 5,555 | 4,503 |
Postage, delivery, and statement mailings | 2,268 | 2,416 | 2,157 |
Office supplies | 1,556 | 1,559 | 1,319 |
Legal and professional fees | 2,176 | 2,371 | 1,847 |
Telecommunications | 2,129 | 2,455 | 1,750 |
Repossessed asset losses, net of expenses | 245 | 634 | 845 |
Merger related costs | 0 | 797 | 13,257 |
Other expenses | 15,324 | 16,148 | 11,726 |
Total Non-Interest Expense | 115,290 | 117,614 | 113,066 |
Income Before Income Taxes | 111,312 | 113,487 | 88,017 |
Income tax expense | 21,717 | 24,135 | 18,015 |
Net Income (Loss) Attributable to Parent | $ 89,595 | $ 89,352 | $ 70,002 |
Average shares outstanding, basic | 15,975 | 16,314 | 15,421 |
Effect of dilutive securities | 20 | 19 | 18 |
Average shares outstanding, diluted | 15,995 | 16,333 | 15,439 |
Basic earnings per common share | $ 5.55 | $ 5.43 | $ 4.50 |
Diluted earnings per common share | $ 5.55 | $ 5.42 | $ 4.49 |
Deposit Account [Member] | |||
Non-Interest Income | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 25,733 | $ 31,515 | $ 29,704 |
Debit Card [Member] | |||
Non-Interest Income | |||
Revenue from Contract with Customer, Including Assessed Tax | 23,059 | 21,093 | 18,369 |
Fiduciary and Trust [Member] | |||
Non-Interest Income | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 7,736 | $ 7,159 | $ 6,529 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | |||
Net Income (Loss) Attributable to Parent | $ 89,595 | $ 89,352 | $ 70,002 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, Portion Attributable to Parent [Abstract] | |||
Unrealized gain (loss) on available-for-sale securities arising during period | 31,157 | 27,115 | (7,054) |
Reclassification adjustment for net (gains) losses | (62) | (69) | 90 |
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment and Tax | 1,562 | 0 | 0 |
Other comprehensive income (loss) related to available-for-sale securities | 32,657 | 27,046 | (6,964) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Tax, after Reclassification Adjustment, Attributable to Parent [Abstract] | |||
Amortization of actuarial net gains | 1,089 | 917 | 890 |
Recognition of unrealized losses | (352) | (1,447) | (1,982) |
Change in underfunded pension liability | 737 | (530) | (1,092) |
Other comprehensive income (loss) before income taxes | 33,394 | 26,516 | (8,056) |
Tax effect | (8,001) | (6,194) | 1,875 |
Other comprehensive income (loss), net of tax | 25,393 | 20,322 | (6,181) |
Comprehensive income, net of tax | $ 114,988 | $ 109,674 | $ 63,821 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Capital Surplus[Member] | Retained Earnings [Member] | Treasury Stock, Common [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning balance at Dec. 31, 2017 | $ 502,507 | $ 47,619 | $ 140,960 | $ 444,481 | $ (124,909) | $ (5,644) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income (Loss) Attributable to Parent | 70,002 | 70,002 | ||||
Other comprehensive income | (6,181) | (6,181) | ||||
New Accounting Pronouncement, Effect of Adoption, Quantification | Accounting Standards Update 2016-01 [Member] | 0 | 2,657 | (2,657) | |||
Cash dividends declared | (31,173) | (31,173) | ||||
Stock-based compensation expense, net | 2,151 | 2,151 | ||||
Restricted Awards Granted | 0 | (1,585) | 1,585 | |||
Exercise of stock options | 1,164 | (736) | 1,900 | |||
Purchase of treasury shares | (20,271) | (20,271) | ||||
Stock Issued During Period, Value, Acquisitions | 82,565 | 28,765 | 53,800 | |||
Ending balance at Dec. 31, 2018 | 600,764 | 47,619 | 169,555 | 485,967 | (87,895) | (14,482) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income (Loss) Attributable to Parent | 89,352 | 89,352 | ||||
Other comprehensive income | 20,322 | 20,322 | ||||
Cash dividends declared | (36,066) | (36,066) | ||||
Stock-based compensation expense, net | 2,516 | 2,516 | ||||
Restricted Awards Granted | 0 | (1,657) | 1,657 | |||
Exercise of stock options | 526 | (105) | 631 | |||
Purchase of treasury shares | (19,431) | (19,431) | ||||
Ending balance at Dec. 31, 2019 | 657,983 | 47,619 | 170,309 | 539,253 | (105,038) | 5,840 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income (Loss) Attributable to Parent | 89,595 | 89,595 | ||||
Other comprehensive income | 25,393 | 25,393 | ||||
Cash dividends declared | (36,525) | (36,525) | ||||
Stock-based compensation expense, net | 3,253 | 3,253 | ||||
Restricted Awards Granted | 0 | (2,146) | 2,146 | |||
Exercise of stock options | 223 | (112) | 335 | |||
Purchase of treasury shares | (36,481) | (36,481) | ||||
Ending balance at Dec. 31, 2020 | $ 701,106 | $ 47,619 | $ 171,304 | $ 589,988 | $ (139,038) | $ 31,233 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash dividends declared | $ 2.29 | $ 2.20 | $ 1.98 |
Total Shareholders’ Equity | $ 701,106 | $ 657,983 | $ 600,764 |
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201613Member | ||
Cash dividends declared | $ 2.29 | $ 2.20 | $ 1.98 |
Exercise of stock options | 4,921 | 11,721 | 29,633 |
Purchase of treasury shares | 573,000 | 261,000 | 290,000 |
Cumulative Effect, Period of Adoption, Adjustment | |||
Total Shareholders’ Equity | $ (2,335) | ||
Cumulative Effect, Period of Adoption, Adjusted Balance | |||
Total Shareholders’ Equity | 655,648 | ||
Retained Earnings [Member] | |||
Total Shareholders’ Equity | $ 589,988 | 539,253 | $ 485,967 |
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment | |||
Total Shareholders’ Equity | (2,335) | ||
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance | |||
Total Shareholders’ Equity | 536,918 | ||
Common Stock [Member] | |||
Total Shareholders’ Equity | 47,619 | 47,619 | 47,619 |
Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance | |||
Total Shareholders’ Equity | 47,619 | ||
Capital Surplus[Member] | |||
Total Shareholders’ Equity | 171,304 | 170,309 | 169,555 |
Capital Surplus[Member] | Cumulative Effect, Period of Adoption, Adjusted Balance | |||
Total Shareholders’ Equity | 170,309 | ||
Treasury Stock, Common [Member] | |||
Total Shareholders’ Equity | (139,038) | (105,038) | (87,895) |
Treasury Stock, Common [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance | |||
Total Shareholders’ Equity | (105,038) | ||
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Total Shareholders’ Equity | $ 31,233 | 5,840 | $ (14,482) |
Accumulated Other Comprehensive Income (Loss) [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance | |||
Total Shareholders’ Equity | $ 5,840 | ||
Poage Bankshares, Inc. [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,142,000 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Activities | |||
Net Income (Loss) Attributable to Parent | $ 89,595 | $ 89,352 | $ 70,002 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Amortization and (accretion), net | 4,882 | 699 | 1,281 |
Provision for (recovery of) credit losses | 10,722 | (1,250) | (2,310) |
Depreciation of premises and equipment | 5,790 | 5,003 | 5,087 |
Deferred income tax expense (benefit) | 2,640 | 4,939 | (1,244) |
Net periodic employee benefit cost | 723 | 622 | 471 |
Pension contributions | (450) | 0 | (1,509) |
Unrealized and realized investment securities losses (gains) | 801 | (957) | 90 |
Gain on Sale of Investments | (17,837) | 0 | 0 |
Stock-based compensation expense | 3,253 | 2,516 | 2,151 |
Excess tax benefit from stock-compensation expense | (165) | (461) | (506) |
Increase in value of bank-owned life insurance | (4,424) | (3,766) | (3,090) |
Loans originated for sale | (28,236) | (18,757) | (15,196) |
Proceeds from the sale of loans originated for sale | 28,909 | 20,917 | 13,993 |
Gain on sale of loans | (368) | (589) | (351) |
Asset write down | 0 | 297 | 491 |
Change in accrued interest receivable | (4,224) | 855 | (1,500) |
Change in other assets | (13,790) | (1,959) | 5,404 |
Change in other liabilities | 11,974 | 7,587 | 4,308 |
Net Cash Provided by Operating Activities | 89,795 | 105,048 | 77,572 |
Investing Activities | |||
Net increase in loans | (3,911) | (30,146) | (95,284) |
Purchases of securities available-for-sale | (461,430) | (209,588) | (130,876) |
Proceeds from sales of available for sale securities | 30,307 | 70,404 | 0 |
Proceeds from maturities and calls of available-for-sale securities | 139,175 | 75,717 | 56,841 |
Purchases of securities held-to-maturity securities | 0 | 0 | (4,925) |
Proceeds from maturities and calls of held-to-maturity securities | 0 | 11,706 | 8,439 |
Payments to Acquire Other Investments | (2,295) | (11,100) | (35,350) |
Proceeds from Sale of Other Investments | 2,425 | 13,790 | 31,271 |
Proceeds from Sale and Maturity of Other Investments | 17,837 | 0 | 0 |
Purchases of premises and equipment | (5,544) | (4,729) | (10,192) |
Disposals of premises and equipment | 483 | 598 | 3,884 |
Proceeds from Sale of Property Held-for-sale | 540 | 2,285 | 0 |
Proceeds from bank-owned life insurance policies | 2,019 | 2,423 | 425 |
Payments to Acquire Low Income Housing Tax Credits | (4,892) | (5,530) | (4,924) |
Payments for (Proceeds from) Businesses and Interest in Affiliates | 0 | (24,661) | 0 |
Net Cash Used in Investing Activities | (285,286) | (108,831) | (168,465) |
Financing Activities | |||
Net increase in noninterest-bearing deposits | 371,903 | 26,727 | 32,097 |
Net increase in interest-bearing deposits | 205,041 | 100,192 | 156,302 |
Net increase (decrease) in short-term borrowings | 84,701 | (50,656) | 7,667 |
Repayment of long-term debt | (4,056) | 0 | (16,495) |
Proceeds from sale of capital securities | 0 | 0 | 495 |
Purchases of treasury stock | (36,481) | (19,431) | (20,271) |
Proceeds from exercise of stock options | 223 | 526 | 1,164 |
Other financing activities | (652) | (875) | 0 |
Dividends paid | (36,673) | (35,547) | (29,583) |
Net Cash Provided by Financing Activities | 584,006 | 20,936 | 131,376 |
Increase in Cash and Cash Equivalents | 388,515 | 17,153 | 40,483 |
Cash and cash equivalents at beginning of period | 140,144 | 122,991 | 82,508 |
Cash and Cash Equivalents at End of Period | $ 528,659 | $ 140,144 | 122,991 |
Farmers Deposit Bancorp, Inc. [Member] | |||
Investing Activities | |||
Payments to Acquire Businesses, Net of Cash Acquired | (20,691) | ||
Poage Bankshares, Inc. [Member] | |||
Investing Activities | |||
Payments to Acquire Businesses, Net of Cash Acquired | $ 32,917 |
Consolidated Statements Of Ca_2
Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash paid for interest | $ 25,400 | $ 37,000 | $ 24,800 |
Income taxes paid | $ 26,700 | $ 14,900 | 20,800 |
Farmers Deposit Bancorp, Inc. [Member] | |||
Cash Included in Acquisition | 4,209 | ||
Poage Bankshares, Inc. [Member] | |||
Cash Included in Acquisition | $ 34,288 |
Summary Of Significant Accounti
Summary Of Significant Accounting And Reporting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary Of Significant Accounting And Reporting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Summary of Significant Accounting and Reporting Policies: The accounting and reporting policies of City Holding Company and its subsidiaries (the "Company") conform with U.S. generally accepted accounting principles and require management to make estimates and develop assumptions that affect the amounts reported in the financial statements and related footnotes. Actual results could differ from management’s estimates. The following is a summary of the more significant policies. Principles of Consolidation: The consolidated financial statements include the accounts of City Holding Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity in conformity with U. S. generally accepted accounting principles. Voting interest entities are entities in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make decisions about the entity’s activities. The Company consolidates voting interest entities in which it has all, or at least a majority of, the voting interest. As defined in applicable accounting standards, variable interest entities (VIEs) are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The enterprise with a controlling financial interest, known as the primary beneficiary, consolidates the VIE. The Company’s wholly owned subsidiary, Town Square Statutory Trust I, is a VIE for which the Company is not the primary beneficiary. The Company also invests in certain limited partnerships that operate qualified low-income housing tax credit developments. These investments are considered variable interest entities for which the Company is not the primary beneficiary. Accordingly, the accounts of these entities are not included in the Company’s consolidated financial statements. Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. Such reclassifications had no impact on total shareholders’ equity or net income for any period. Description of Principal Markets and Services: The Company is a registered financial holding company under the Bank Holding Company Act headquartered in Charleston, West Virginia, and conducts its principal activities through its wholly-owned subsidiary, City National Bank of West Virginia ("City National"). City National is a retail and consumer-oriented community bank with 94 banking offices in West Virginia, Kentucky, Virginia and southeastern Ohio. City National provides credit, deposit, and trust and investment management services to its customers. In addition to its branch network, City National's delivery channels include automated-teller-machines ("ATMs"), interactive-teller-machines ("ITMs"), mobile banking, debit cards, interactive voice response systems and Internet technology. The Company conducts its business activities through one reportable business segment - community banking. Cash and Due from Banks: The Company considers cash, due from banks, and interest-bearing deposits in depository institutions as cash and cash equivalents. City National is required to maintain an average reserve balance with the Federal Reserve Bank of Richmond to compensate for services provided by the Federal Reserve and to meet statutory required reserves for demand deposits. Securities: Management determines the appropriate classification of securities at the time of purchase. If management has the intent and the Company has the ability at the time of purchase to hold debt securities to maturity, they are classified as investment securities held-to-maturity and are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts. Debt securities which the Company may not hold to maturity are classified as investment securities available-for-sale. Securities available-for-sale are carried at fair value, with the unrealized gains and losses, net of tax, reported in comprehensive income. Securities classified as available-for-sale include securities that management intends to use as part of its asset/liability and liquidity management strategy and that may be sold in response to changes in interest rates, resultant prepayment risk, and other factors. Certain investment securities that do not have readily determinable fair values and for which the Company does not exercise significant influence are carried at cost and classified as other investment securities on the Consolidated Balance Sheets. These cost-method investments are reviewed for impairment at least annually or sooner if events or changes in circumstances indicate the carrying value may not be recoverable. Marketable equity securities that consist of investments made by the Company in equity positions of various community banks are also classified as other investment securities on the Consolidated Balance Sheets. Changes in the fair value of the marketable equity securities are recorded in the Consolidated Statements of Income. For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For available-for-sale debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. Management employs a continuous monitoring process in regards to its marketable equity securities, specifically its portfolio of regional community bank holdings. Although the regional community bank stocks that are owned by the Company are publicly traded, the trading activity for these stocks is minimal. As part of management's review process for these securities, management reviews the financial condition of each respective community bank for any indications of financial weakness. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the uncollectibility of an available-for-sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. The specific identification method is used to determine the cost basis of securities sold. Fair Value of Financial Instruments: ASC Topic 825 " Financial Instruments," as amended, requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including discount rate and estimate of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. ASC Topic 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. Loans: Loans, excluding previously securitized loans, which are discussed separately below, are reported at the principal amount outstanding, net of unearned income. Portfolio loans include those for which management has the intent and the Company has the ability to hold for the foreseeable future, or until maturity or payoff. The foreseeable future is based upon management’s judgment of current business strategies and market conditions, the type of loan, asset/liability management, and liquidity. Interest income on loans is accrued and credited to operations based upon the principal amount outstanding, using methods that generally result in level rates of return. Loan origination fees, and certain direct costs, are deferred and amortized as an adjustment to the yield over the term of the loan. The accrual of interest income generally is discontinued when a loan becomes 90 days past due as to principal or interest for all loan types. However, any loan may be placed on non-accrual status if the Company receives information that indicates that it is probable a borrower will be unable to meet the contractual terms of their respective loan agreement. Other indicators considered for placing a loan on non-accrual status include the borrower’s involvement in bankruptcies, foreclosures, repossessions, litigation and any other situation resulting in doubt as to whether full collection of contractual principal and interest is attainable. When interest accruals are discontinued, unpaid interest recognized in income in the current year is reversed, and interest accrued in prior years is charged to the allowance for credit losses. Management may elect to continue the accrual of interest when the estimated net realizable value of collateral exceeds the principal balance and related accrued interest, and the loan is in process of collection. Generally for all loan classes, payments during the period the loan is non-performing are recorded on a cash basis. Payments received on nonperforming loans are typically applied directly against the outstanding principal balance until the loan is fully repaid. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. Generally, all loan types are considered past due when the contractual terms of a loan are not met and the borrower is 30 days or more past due on a payment. Furthermore, all loans are generally subject to charge-off when the loan becomes 120 days past due, depending on the estimated fair value of the collateral less cost to dispose, versus the outstanding loan balance. Allowance for Credit Losses: The allowance for credit losses is a valuation account that is deducted from the loans' amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics, such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions, such as changes in unemployment rates, property values, or other relevant factors. These evaluations are conducted at least quarterly and more frequently if deemed necessary. In evaluating the appropriateness of its allowance for credit losses, the Company stratifies the loan portfolio into six major groupings. The Company has identified the following portfolio segments and measures the allowance for credit losses using the following methods: Portfolio Segment Measurement Method Commercial and industrial Migration Commercial real estate: 1-4 family Migration Hotels Migration Multi-family Migration Non Residential Non-Owner Occupied Migration Non Residential Owner Occupied Migration Residential real estate Vintage Home equity Vintage Consumer Vintage Migration is an analysis that tracks a closed pool of loans for a configurable period of time and calculates a loss ratio on only those loans in the pool at the start date based on outstanding balance. Vintage is a predictive loss model that includes a reasonable approximation of probable and estimable future losses by tracking each loan's net losses over the life of the loan as compared to its original balance. For demand deposit overdrafts, the allowance for credit losses is measured using the historical loss rate. Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not included in the collective evaluation. When management determines that foreclosure is probable, the expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. Expected credit losses are estimated over the contractual term of the loan, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a troubled-debt restructuring will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. The Company’s policy on loan modifications typically does not allow for modifications that would be considered a concession from the Company. However, when there is a modification, the Company evaluates each modification to determine if the modification constitutes a troubled debt restructuring ("TDR") in accordance with ASU 2011-02, whereby a modification of a loan would be considered a TDR when both of the following conditions are met: (1) a borrower is experiencing financial difficulty and (2) the modification constitutes a concession. When determining whether the borrower is experiencing financial difficulties, the Company reviews whether the debtor is currently in payment default on any of its debt or whether it is probable that the debtor would be in payment default in the foreseeable future without the modification. Other indicators of financial difficulty include whether the debtor has declared or is in the process of declaring bankruptcy, the debtor’s ability t o continue as a going concern, or the debtor’s projected cash flow to service its debt (including principal and interest) in accordance with the contractual terms for the foreseeable future, without a modification. The allowance for credit loss on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit loss is determined by discounting the expected future cash flows at the original interest rate of the loan. In March of 2020, in response to the COVID-19 pandemic, regulatory guidance was issued that clarified the accounting for loan modifications. Modifications of loan terms do not automatically result in a TDR. Short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extension of repayment terms, or other delays that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time the modification program was implemented. In addition, modifications or deferrals pursuant to the CARES Act do not represent TDRs. However, these deferrals do not absolve the company from performing its normal risk rating and therefore a loan could be current and have a less than satisfactory risk rating. Bank Owned Life Insurance: The Company has purchased life insurance on certain executive officers and employees. The Company receives the cash surrender value of each policy upon its termination or benefits are payable upon the death of the insured. These policies are recorded on the Consolidated Balance Sheets at their net cash surrender value. Changes in the net cash surrender value are recognized in Bank Owned Life Insurance in the Consolidated Statements of Income. Premises and Equipment: Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the assets. Depreciation of leasehold improvements is computed using the straight-line method over the lesser of the term of the respective lease or the estimated useful life of the respective asset. Maintenance and repairs are charged to expense as incurred, while improvements that extend the useful life of premises and equipment are capitalized and depreciated over the estimated remaining life of the asset. Other Real Estate Owned: Other real estate owned ("OREO") is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is included in Other Assets at fair value less estimated selling costs. Changes to the value subsequent to transfer are recorded in non-interest expense, along with direct operating expenses. Gains or losses not previously recognized from sales of OREO are recognized in non-interest expense on the date of the sale. As of December 31, 2020 and 2019, the amount of OREO included in Other Assets was $1.7 million and $4.7 million, respectively. Physical possession of property collateralizing a loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Goodwill and Other Intangible Assets: Goodwill is the excess of the cost of an acquisition over the fair value of tangible and intangible assets acquired. Goodwill is not amortized. Intangible assets represent purchased assets that also lack physical substance, but can be separately distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. Intangible assets with determinable useful lives, such as core deposits, are amortized over their estimated useful lives. The Company performs an annual review for impairment in the recorded value of goodwill and indefinite lived intangible assets. Goodwill is tested for impairment between the annual tests if an event occurs or circumstances change that more than likely reduce the fair value of a reporting unit below its carrying value. An indefinite-lived intangible asset is tested for impairment between the annual tests if an event occurs or circumstances change indicating that the asset might be impaired. Securities Sold Under Agreements to Repurchase: Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold plus accrued interest. Securities sold primarily consists of U.S. government, federal agency, and municipal securities pledged as collateral under these financing arrangements and cannot be repledged or sold, unless replaced by the secured party. Derivative Financial Instruments: Derivative instruments are carried at fair value in the Company’s financial statements. The accounting for changes in the fair value of a derivative instrument is determined by whether it has been designated and qualifies as part of a hedging relationship, and further, by the type of hedging relationship. The Company primarily utilizes non-hedging derivative financial instruments with commercial banking customers to facilitate their interest rate management strategies. For these instruments, the Company acts as an intermediary for its customers and has offsetting contracts with financial institution counterparties. Changes in the fair value of these underlying derivative contracts generally offset each other and do not significantly impact the Company's results of operations. The Company also utilizes fair value hedge agreements to reduce the interest rate risk associated with the change in fair value of certain securities. The gains or losses on these hedges are recognized in current earnings as fair value changes. Long-Term Debt: As part of its December 2018 acquisition of Poage Bankshares, Inc. ("Poage"), the Company assumed Poage's subordinated debentures ($4.1 million). During the first quarter of 2020, the Company repaid these debentures at a price of 100% of the principal amount. The weighted average rate of these debentures was 3.74% for the year ended December 31, 2019. Trust Assets: Assets held in a fiduciary or agency capacity for customers are not included in the accompanying financial statements since such items are not assets of the Company. Income Taxes: The consolidated provision for income taxes is based upon reported income and expense. Deferred income taxes are provided for temporary differences between financial reporting and tax bases of assets and liabilities, computed using enacted tax rates. The income tax effects related to settlements of share-based compensation awards are reported in earnings as an increase (or decrease) to income tax expense. The Company files a consolidated income tax return. The respective subsidiaries generally provide for income taxes on a separate return basis and remit amounts determined to be currently payable to the Parent Company. The Company and its subsidiaries are subject to examinations and challenges from federal and state taxing authorities regarding positions taken in returns. Uncertain tax positions are initially recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination. These positions are initially and subsequently measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the taxing authority and assuming full knowledge of the position and all relevant facts by the taxing authority. The Company invests in certain limited partnerships that operate qualified low-income housing tax credit developments. The tax credits are reflected in the Consolidated Statements of Income as a reduction in income tax expense. The unamortized amount of the investments is recorded within Other Assets within the Consolidated Balance Sheets. The Company’s investments in affordable housing limited partnerships were $14.4 million and $10.1 million at December 31, 2020 and 2019, respectively. The unfunded commitments associated with these investments were $6.8 million and $3.2 million at December 31, 2020 and 2019, respectively, and were recorded within Other Liabilities within the Consolidated Balance Sheets. Advertising Costs: Advertising costs are expensed as incurred. Stock-Based Compensation: Compensation expense related to stock options and restricted stock awards issued to employees is based upon the fair value of the award at the date of grant. The fair value of stock options is estimated utilizing a Black Scholes pricing model, while the fair value of restricted stock awards is based upon the stock price at the date of grant. Compensation expense is recognized on a straight line basis over the vesting period for options and the respective period for stock awards. Forfeitures are recognized as they occur, rather than estimated over the life of the award. Basic and Diluted Earnings per Common Share: Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding, excluding participating securities. Diluted earnings per share is computed by dividing net income by the weighted-average number of shares outstanding, excluding participating securities, increased by the number of shares of common stock which would be issued assuming the exercise of stock options and other common stock equivalents. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS Recently Adopted: CECL In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." This standard replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments in this update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The new current expected credit losses model ("CECL") will apply to the allowance for credit losses, available-for-sale and held-to-maturity debt securities, purchased financial assets with credit deterioration and certain off-balance sheet credit exposures. In November 2018, the FASB issued ASU No. 2018-19, "Codification Improvements to Topic 326, Financial Instruments—Credit Losses." This amendment clarifies the scope of the guidance in ASU No. 2016-13. In December 2018, the federal bank regulators issued a final rule that would provide an optional three-year phase-in period for the day-one regulatory capital effects of the adoption of ASU No. 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, on January 1, 2020. In April 2020, federal bank regulators issued an interim final rule which provided banking organizations that implement CECL before the end of 2020 the option to delay for two more years an estimate of CECL's effect on regulatory capital, followed by the three-year transition period as previously issued. Management has elected to utilize the five-year interim final rule. The Company adopted 2016-13 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet ("OBS") credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company adopted 2016-13 using the prospective transition approach for financial assets purchased with credit deterioration ("PCD") that were previously classified as purchased-credit impaired ("PCI") and accounted for under ASC 310-30. In accordance with the standard, management did not reassess whether the PCI assets met the criteria of PCD assets as of the date of adoption. On January 1, 2020, the amortized cost basis of the PCD assets was adjusted to reflect the addition of $2.7 million of the allowance for credit losses. The remaining noncredit discount (based on the adjusted amortized cost basis) will be accreted into interest income over the remaining life of the asset. The following table illustrates the impact of ASC 326 (in thousands): As Reported Under Pre-ASC 326 Impact of ASC 326 ASC 326 Adoption Adoption Gross Loans $ 3,618,825 $ 3,616,099 $ 2,726 Allowance for Credit Losses (17,349) (11,589) (5,760) Deferred Tax Assets, net 7,380 6,669 711 Shareholders' Equity 655,648 657,983 (2,335) Others In January 2017, the FASB issued ASU No. 2017-04, "Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." This amendment simplifies the measurement of goodwill by eliminating Step 2 from the goodwill impairment test. This ASU became effective for the Company on January 1, 2020. The adoption of ASU No. 2017-04 did not have a material impact on the Company's financial statements. In August 2017, the FASB issued ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities." This amendment expands and refines hedge accounting for both nonfinancial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. This ASU became effective for the Company on January 1, 2019. The adoption of this ASU did not have a material impact on the Company's financial statements. In April 2019, the FASB issued ASU No. 2019-04, "Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments." T his amendment clarifies the guidance in ASU No. 2017-12. This amendment became effective for the Company on January 1, 2020. Effective January 1, 2020, the Company reclassified its held-to-maturity securities as available-for-sale utilizing the transition guidance under ASU 2019-04, and the unrealized gains/losses on these investments has been recorded through Other Comprehensive Income. In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement." This amendment removes, modifies, and clarifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. This ASU became effective for the Company on January 1, 2020. The adoption of ASU No. 2018-13 did not have a material impact on the Company's financial statements. In August 2018, the FASB issued ASU No. 2018-15, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract." The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This ASU became effective for the Company on January 1, 2020. The adoption of ASU No. 2018-15 did not have a material impact on the Company's financial statements. In October 2018, the FASB issued ASU No. 2018-16, "Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes." This amendment permits the use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815 in addition to the UST, the LIBOR swap rate, the OIS rate based on the Federal Funds Effective Rate, and the SIFMA Municipal Swap Rate. This ASU became effective for the Company on January 1, 2019 with anticipation the LIBOR index will be phased out by the end of 2021. In March 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This amendment provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform and is effective as of March 12, 2020 through December 31, 2022. In January 2021, the FASB issued ASU No. 2021-01, "Reference Rate Reform (Topic 848): Scope," which clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. Management has reviewed the loan portfolio and taken the appropriate steps to prepare for the change from LIBOR to SOFR. In October 2018, the FASB issued ASU No. 2018-17, " Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities." This amendment simplifies the analysis of fees paid to decision makers or service providers in determining variable interest entities. This ASU became effective for the Company on January 1, 2020. The adoption of ASU No. 2018-17 did not have a material impact on the Company's financial statements. In August 2018, the FASB issued ASU No. 2018-14, "Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans." This amendment removes, modifies, and clarifies certain disclosure requirements for defined benefit plans and other post-employment benefit plans. This ASU became effective for the Company on December 31, 2020. The adoption of ASU No. 2018-14 did not have a material impact on the Company's financial statements. In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." The amendments in this update simpl ify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifying and amending existing guidance. This ASU became effective for the Company on January 1, 2021. The adoption of ASU No. 2019-12 is not expected to have a material impact on the Company's financial statements. |
Restrictions On Cash Due From B
Restrictions On Cash Due From Banks | 12 Months Ended |
Dec. 31, 2020 | |
Restricted Cash and Investments [Abstract] | |
Restrictions On Cash Due From Banks | RESTRICTIONS ON CASH AND DUE FROM BANKS City National was previously required to maintain an average reserve balance with the Federal Reserve Bank of Richmond to compensate for services provided by the Federal Reserve and to meet statutory required reserves for demand deposits. The average amount of the reserve balance for the year ended December 31, 2019 was approximately $47.3 million. On March 15, 2020, the Board of Governors of the Federal Reserve waived the average reserve balance requirement effective March 26, 2020. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2020 | |
Investments [Abstract] | |
Investments | INVESTMENTS The aggregate carrying and approximate fair values of investment securities follow (in thousands). Fair values are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable financial instruments. December 31, 2020 December 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available-for-sale: U.S. Treasuries and U.S. government agencies $ — $ — $ — $ — $ 500 $ 2 $ — $ 502 Obligations of states and political subdivisions 266,483 11,467 139 277,811 112,393 4,800 6 117,187 Mortgage-backed securities: U.S. government agencies 815,682 34,807 105 850,384 631,637 12,292 1,825 642,104 Private label 9,976 916 — 10,892 10,896 589 — 11,485 Trust preferred securities 4,557 — 457 4,100 4,781 27 347 4,461 Corporate securities 31,465 2,146 1 33,610 31,669 500 43 32,126 Total Debt Securities 1,128,163 49,336 702 1,176,797 791,876 18,210 2,221 807,865 Certificates of deposit held for investment 1,992 — — 1,992 2,241 — — 2,241 Total Securities Available-for-Sale $ 1,130,155 $ 49,336 $ 702 $ 1,178,789 $ 794,117 $ 18,210 $ 2,221 $ 810,106 Securities held-to-maturity: Mortgage-backed securities: U.S. government agencies $ — $ — $ — $ — $ 49,036 $ 1,562 — $ 50,598 Total Securities Held-to-Maturity $ — $ — $ — $ — $ 49,036 $ 1,562 $ — $ 50,598 Effective January 1, 2020, the Company reclassified its held-to-maturity securities as available-for-sale utilizing the transition guidance under ASU 2019-04, and the unrealized gains/losses on these investments has been recorded through Other Comprehensive Income. The Company's other investment securities include marketable and non-marketable equity securities. At December 31, 2020 and 2019, the Company held $11.8 million and $12.6 million, respectively, in marketable equity securities. Marketable equity securities mainly consist of investments made by the Company in equity positions of various community banks. Included within this portfolio are ownership positions in the following community bank holding companies: First National Corporation ("FXNC") (4%) and Eagle Financial Services, Inc. ("EFSI") (1.5%). Changes in the fair value of the marketable equity securities are recorded in "unrealized (losses) gains recognized on equity securities still held" in the consolidated statements of income. The C ompany's non-marketable securities consist of securities with limited marketability, such as stock in the Federal Reserve Bank ("FRB") or the Federal Home Loan Bank ("FHLB"). At December 31, 2020 and 2019, the Company held $15.5 million and $15.9 million, respectively, in non-marketable equity securities. These securities are carried at cost due to the restrictions placed on their transferability. The Company's mortgage-backed U.S. government agency securities consist of both residential and commercial securities, all of which are guaranteed by Fannie Mae ("FNMA"), Freddie Mac ("FHLMC"), or Ginnie Mae ("GNMA"). At December 31, 2020 and 2019, there were no securities of any non-governmental issuer whose aggregate carrying value or estimated fair value exceeded 10% of shareholders' equity. Certain investment securities owned by the Company were in an unrealized loss position (i.e., amortized cost basis exceeded the estimated fair value of the securities) as of December 31, 2020 and 2019. The following table shows the gross unrealized losses and fair value of the Company’s investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): December 31, 2020 Less Than Twelve Months Twelve Months or Greater Total Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Securities available-for-sale: Obligations of states and political subdivisions $ 10,578 $ 139 $ — $ — $ 10,578 $ 139 Mortgage-backed securities: U.S. Government agencies 62,412 105 35 — 62,447 105 Trust preferred securities — — 4,100 457 4,100 457 Corporate securities 488 1 — — 488 1 Total available-for-sale $ 73,478 $ 245 $ 4,135 $ 457 $ 77,613 $ 702 December 31, 2019 Less Than Twelve Months Twelve Months or Greater Total Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Securities available-for-sale: Obligations of states and political subdivisions $ 230 $ — $ 1,439 $ 6 $ 1,669 $ 6 Mortgage-backed securities: U.S. Government agencies 123,289 1,247 34,746 578 158,035 1,825 Trust preferred securities 4,200 347 — — 4,200 347 Corporate securities 11,248 43 — — 11,248 43 Total available-for-sale $ 138,967 $ 1,637 $ 36,185 $ 584 $ 175,152 $ 2,221 There were no held-to-maturity securities in an unrealized loss position as of December 31, 2019. As of December 31, 2020, management does not intend to sell any securities that are in an unrealized loss position and it is not more than likely that it will be required to sell the securities before the recovery of the amortized cost basis. The unrealized losses on debt securities are primarily the result of interest rate changes, credit spread fluctuations on agency-issued mortgage related securities, general financial market uncertainty and unprecedented market volatility. These conditions should not prohibit the Company from receiving its contractual principal and interest payments on its debt securities. The fair value is expected to recover as the securities approach their maturity date or repricing date. As of December 31, 2020, management believes the unrealized losses detailed in the table above are temporary and no allowance for credit losses for available-for-sale securities has been recognized in the Company’s consolidated income statement. Should the impairment of any of these securities become other-than-temporary, the cost basis of the investment will be reduced and the resulting loss will be recognized in net income in the period the other-than-temporary impairment is identified, while any noncredit loss will be recognized in other comprehensive income. During the years ended December 31, 2020, 2019 and 2018, the Company had no credit-related net investment impairment losses. The amortized cost and estimated fair value of debt securities at December 31, 2020, by contractual maturity, is shown in the following table (in thousands). Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. Mortgage-backed securities have been allocated to their respective maturity groupings based on their contractual maturity. Cost Estimated Fair Value Securities Available-for-Sale Due in one year or less $ 5,211 $ 5,307 Due after one year through five years 32,776 34,499 Due after five years through ten years 276,898 293,388 Due after ten years 813,278 843,603 $ 1,128,163 $ 1,176,797 Gross gains and gross losses realized by the Company from investment security transactions are summarized in the table below (in thousands): For the year ended December 31, 2020 2019 2018 Gross unrealized gains recognized on equity securities still held $ 223 $ 888 $ 208 Gross unrealized losses recognized on equity securities still held (1,086) — (298) Net unrealized (losses) gains recognized on equity securities still held $ (863) $ 888 $ (90) Gross realized gains $ 139 $ 226 $ — Gross realized losses (77) (157) — Net realized investment security gains $ 62 $ 69 $ — During January 2020, the Company sold the entirety of its Visa Inc. Class B common shares (86,605) in a cash transaction which resulted in a pre-tax gain of $17.8 million. The carrying value of the Visa Class B shares on the Company’s balance sheet was $0, as City National had no historical cost basis in the shares. The carrying value of securities pledged to secure public deposits and for other purposes as required or permitted by law approximated $644 million and $518 million at December 31, 2020 and 2019, respectively. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2020 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans | LOANS The following summarizes the Company’s major classifications for loans (in thousands): December 31, 2020 December 31, 2019 Commercial and industrial $ 372,989 $ 308,015 1-4 Family 109,812 N/R Hotels 294,464 N/R Multi-family 215,671 N/R Non Residential Non-Owner Occupied 641,351 N/R Non Residential Owner Occupied 213,484 N/R Commercial real estate 1,474,782 1,459,737 Residential real estate 1,587,694 1,640,396 Home equity 136,469 148,928 Consumer 47,688 54,263 DDA overdrafts 2,497 4,760 Gross loans 3,622,119 3,616,099 Allowance for credit losses (24,549) (11,589) Net loans $ 3,597,570 $ 3,604,510 Construction loans included in: Residential real estate $ 27,078 $ 29,033 Commercial real estate 40,449 64,049 N/R = Not reported. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company's commercial and residential real estate construction loans are primarily secured by real estate within the Company's principal markets. These loans were originated under the Company's loan policy, which is focused on the risk characteristics of the loan portfolio, including construction loans. In the judgment of the Company's management, adequate consideration has been given to these loans in establishing the Company's allowance for credit losses. Paycheck Protection Program The Company originated loans to its customers under the Paycheck Protection Program ("PPP") administered by the Small Business Administration ("SBA") under the provisions of the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). Loans covered by the PPP may be eligible for loan forgiveness. The remaining loan balances, if any, after the loan forgiveness, are fully guaranteed by the SBA. Through December 31, 2020, the Company has funded approximately $90 million of SBA-approved PPP loans to over 1,500 customers. Under the terms of the program, the SBA paid the lender a processing fee tiered by the size of the loan (5% for loans less than $350,000; 3% for loans greater than $350,000 but less than $2.0 million; and 1% for loans greater than $2.0 million). The Company started submitting forgiveness applications on behalf of its customers during the fourth quarter of 2020 and as of December 31, 2020, has received forgiveness proceeds of approximately $30 million. |
Allowance For Loan Losses
Allowance For Loan Losses | 12 Months Ended |
Dec. 31, 2020 | |
Receivables [Abstract] | |
Allowance For Loan Losses | ALLOWANCE FOR CREDIT LOSSES The following table summarizes the activity in the allowance for credit losses, by portfolio loan classification, for the years ended December 31, 2020, 2019 and 2018 (in thousands). The allocation of a portion of the allowance in one portfolio segment does not preclude its availability to absorb losses in other portfolio segments. Commercial and industrial Commercial real estate Residential real estate Home equity Consumer DDA overdrafts Total December 31, 2020 Allowance for loan loss Beginning balance $ 2,059 $ 2,606 $ 3,448 $ 1,187 $ 975 $ 1,314 $ 11,589 Impact of adopting CECL 1,715 3,254 2,139 (598) (810) 60 5,760 Charge-offs (843) (1,113) (1,250) (420) (192) (2,345) (6,163) Recoveries 91 525 184 136 238 1,467 2,641 Provision for (recovery of) credit losses 622 5,725 3,572 325 (48) 526 10,722 Ending balance $ 3,644 $ 10,997 $ 8,093 $ 630 $ 163 $ 1,022 $ 24,549 December 31, 2019 Allowance for loan loss Beginning balance $ 4,060 $ 4,495 $ 4,116 $ 1,268 $ 319 $ 1,708 $ 15,966 Charge-offs (261) (1,358) (787) (294) (1,177) (2,777) (6,654) Recoveries 764 624 369 — 265 1,505 3,527 (Recovery of) provision for credit losses (2,504) (1,155) (250) 213 1,568 878 (1,250) Ending balance $ 2,059 $ 2,606 $ 3,448 $ 1,187 $ 975 $ 1,314 $ 11,589 December 31, 2018 Allowance for loan loss Beginning balance $ 4,571 $ 6,183 $ 5,212 $ 1,138 $ 62 $ 1,670 $ 18,836 Charge-offs (733) (369) (682) (219) (769) (2,701) (5,473) Recoveries 2,152 732 367 — 166 1,496 4,913 (Recovery of) provision for credit losses (1,930) (2,051) (781) 349 860 1,243 (2,310) Ending balance $ 4,060 $ 4,495 $ 4,116 $ 1,268 $ 319 $ 1,708 $ 15,966 Management systematically monitors the loan portfolio and the appropriateness of the allowance for credit losses on a quarterly basis to provide for expected losses inherent in the portfolio. Management assesses the risk in each loan type based on historical trends, the general economic environment of its local markets, individual loan performance and other relevant factors. The provision for credit losses recorded during the year ended December 31, 2020 largely reflects the expected economic impact from the COVID-19 pandemic. The Company's estimate of future economic conditions utilized in its provision estimate is primarily dependent on expected unemployment ranges over a two-year period. Beyond two years, a straight line reversion to historical average loss rates is applied over the life of the loan pool in the migration methodology. The vintage methodology applies future average loss rates based on net losses in historical periods where the unemployment rate was within the forecasted range. As a result of COVID-19, expected unemployment ranges have significantly increased and resulted in an increase in the Company's provision for credit losses. Individual credits in excess of $1 million are selected at least annually for detailed loan reviews, which are utilized by management to assess the risk in the portfolio and the appropriateness of the allowance. Non-Performing Loans The following tables present the amortized cost basis of loans on non-accrual status and loans past due over 90 days still accruing as of December 31, 2020 (in thousands): Non-accrual With No Non-accrual With Loans Past Due Allowance for Allowance for Over 90 Days Credit Losses Credit Losses Still Accruing Commercial & Industrial $ 172 $ 596 $ — 1-4 Family — 2,056 — Hotels — 2,951 — Multi-family — — — Non Residential Non-Owner Occupied — 508 — Non Residential Owner Occupied 2,297 589 — Commercial Real Estate 2,297 6,104 — Residential Real Estate 21 2,947 — Home Equity — 95 — Consumer — — — Total $ 2,490 $ 9,742 $ — The following table presents the Company's loans on non-accrual status and loans past due over 90 days still accruing as of December 31, 2019 (in thousands): Loans Past Due Over 90 Days Non-accrual Still Accruing Commercial and industrial $ 1,182 $ 184 Commercial real estate 6,384 — Residential real estate 3,393 83 Home equity 531 — Consumer — — Total $ 11,490 $ 267 The Company recognized less than $0.1 million of interest income on nonaccrual loans during each of the years ended December 31, 2020 and 2019, respectively. The following presents the aging of the amortized cost basis in past-due loans as of December 31, 2020 and 2019 by class of loan (in thousands): December 31, 2020 30-59 60-89 90+ Total Current Non-accrual Total Commercial and industrial $ 1,213 $ 27 $ — $ 1,240 $ 370,981 $ 768 $ 372,989 1-4 Family 484 — — 484 107,272 2,056 109,812 Hotels — — — — 291,513 2,951 294,464 Multi-family — — — — 215,671 — 215,671 Non Residential Non-Owner Occupied 119 — — 119 640,724 508 641,351 Non Residential Owner Occupied 22 — — 22 210,576 2,886 213,484 Commercial real estate 625 — — 625 1,465,756 8,401 1,474,782 Residential real estate 5,177 816 — 5,993 1,578,733 2,968 1,587,694 Home equity 575 — — 575 135,799 95 136,469 Consumer 63 50 — 113 47,575 — 47,688 Overdrafts 334 7 — 341 2,156 — 2,497 Total $ 7,987 $ 900 $ — $ 8,887 $ 3,601,000 $ 12,232 $ 3,622,119 December 31, 2019 30-59 60-89 90+ Total Current Non-accrual Total Commercial and industrial $ 243 $ 31 $ 184 $ 458 $ 306,375 $ 1,182 $ 308,015 Commercial real estate 1,514 66 — 1,580 1,451,773 6,384 1,459,737 Residential real estate 5,758 1,643 83 7,484 1,629,519 3,393 1,640,396 Home equity 840 116 — 956 147,441 531 148,928 Consumer 156 32 — 188 54,075 — 54,263 Overdrafts 644 86 — 730 4,030 — 4,760 Total $ 9,155 $ 1,974 $ 267 $ 11,396 $ 3,593,213 $ 11,490 $ 3,616,099 The following table presents the amortized cost basis of individually evaluated impaired collateral-dependent loans as of December 31, 2020 (in thousands). Changes in the fair value of the collateral for collateral-dependent loans are reported as credit loss expense or a reversal of credit loss expense in the period of change. Secured by Real Estate Equipment Commercial and industrial $ 173 $ — 1-4 Family — N/A Hotels 2,837 N/A Multi-family — N/A Non Residential Non-Owner Occupied — N/A Non Residential Owner Occupied 2,296 N/A Commercial real estate 5,133 N/A Total $ 5,306 N/A The following table presents the Company’s individually evaluated impaired loans, by class (in thousands) as of December 31, 2019. December 31, 2019 Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial and industrial $ 501 $ 501 $ — Commercial real estate 3,546 3,572 — Total $ 4,047 $ 4,073 $ — With an allowance recorded: Commercial and industrial $ — $ — $ — Commercial real estate 2,644 2,644 87 Total $ 2,644 $ 2,644 $ 87 The following table presents information related to the average recorded investment and interest income recognized on the Company's impaired loans, by class (in thousands), for the years ended December 31, 2019 and 2018. December 31, 2019 December 31, 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no related allowance recorded: Commercial and industrial $ 578 $ — $ 845 $ — Commercial real estate 4,388 41 4,623 39 Total $ 4,966 $ 41 $ 5,468 $ 39 With an allowance recorded: Commercial and industrial $ — $ — $ — $ — Commercial real estate 4,261 162 5,043 220 Total $ 4,261 $ 162 $ 5,043 $ 220 If the Company's non-accrual and impaired loans had been current in accordance with their original terms, less than $0.2 million of interest income would have been recognized during the years ended December 31, 2019 and 2018. There were no commitments to provide additional funds on non-accrual or impaired loans at December 31, 2020. Troubled Debt Restructurings ("TDRs") The following tables set forth the Company’s TDRs (in thousands): December 31, 2020 December 31, 2019 Commercial and industrial $ — $ — 1-4 Family 121 N/R Hotels 2,634 N/R Multi-family 1,883 N/R Non Residential Non-Owner Occupied — N/R Non Residential Owner Occupied — N/R Commercial real estate 4,638 4,973 Residential real estate 19,226 21,029 Home equity 2,001 3,628 Consumer 277 — Total TDRs $ 26,142 $ 29,630 N/R = Not reported. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP . The Company has allocated $1.6 million and $0.8 million of the allowance for credit losses for these loans as of December 31, 2020 and December 31, 2019, respectively. As of December 31, 2020, the Company has not committed to lend any additional in relation to these loans. The Company had one TDR that subsequently defaulted in 2019. The loan balance was approximately $3.0 million and the subsequent default resulted in a charge-off of $0.7 million and the remaining balance was transferred to OREO during 2019. The Company has had no significant TDRs that subsequently defaulted in 2020. The following table presents loans by class, modified as TDRs, that occurred during the years ended December 31, 2020, 2019 and 2018, respectively (dollars in thousands): New TDRs New TDRs New TDRs For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 Pre Post Pre Post Pre Post Modification Modification Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Contracts Investment Investment Commercial and industrial — $ — $ — — $ — $ — — $ — $ — 1-4 Family — — — N/R N/R N/R N/R N/R N/R Hotels — — — N/R N/R N/R N/R N/R N/R Multi-family — — — N/R N/R N/R N/R N/R N/R Non Owner Non-Owner Occupied — — — N/R N/R N/R N/R N/R N/R Non Owner Owner Occupied — — — N/R N/R N/R N/R N/R N/R Commercial real estate — — — — — — — — — Residential real estate 29 2,724 2,720 31 2,531 2,531 33 2,326 2,326 Home equity 3 94 94 10 967 967 10 274 274 Consumer — — — — — — — — — Total 32 $ 2,818 $ 2,814 41 $ 3,498 $ 3,498 43 $ 2,600 $ 2,600 N/R = Not reported. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The TDRs above increased the allowance for credit losses by less than $0.1 million for each of the years ended of December 31, 2020, 2019 and 2018 and resulted in charge-offs of less than $0.2 million during those same time periods. Most TDRs above are reported due to filing Chapter 7 banktruptcy. Regulatory guidance requires that loans be accounted for as collateral-dependent loans when borrowers have filed Chapter 7 bankruptcy, the debt has been discharged by the bankruptcy court and the borrower has not reaffirmed the debt. The filing of bankruptcy is deemed to be evidence that the borrower is in financial difficulty and the discharge of debt by the bankruptcy court is deemed to be a concession granted to the borrower. COVID-19 Pandemic In March of 2020, in response to the COVID-19 pandemic, regulatory guidance was issued that clarified the accounting for loan modifications. Modifications of loan terms do not automatically result in a TDR. Short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extension of repayment terms, or other delays that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time the modification program was implemented. In addition, modifications or deferrals pursuant to the CARES Act do not represent TDRs. However, these deferrals do not absolve the company from performing its normal risk rating and therefore a loan could be current and have a less than satisfactory risk rating. During the year ended December 31, 2020, the Company granted deferrals of approximately $135 million to its mortgage customers. These deferral arrangements ranged from 30 days to 90 days. As of December 31, 2020, approximately $9 million of these loans were still deferring, while approximately $126 million have resumed making their normal loan payment. As of December 30, 2020, approximately $4 million of these deferrals were previously and currently considered TDRs due to Chapter 7 bankruptcies. |
Premises And Equipment
Premises And Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Premises And Equipment | PREMISES AND EQUIPMENT A summary of premises and equipment and related accumulated depreciation is summarized as follows (in thousands): Estimated Useful Life 2020 2019 Land $ 34,185 $ 34,185 Buildings and improvements 10 to 30 yrs. 97,091 95,662 Equipment 3 to 7 yrs. 46,307 43,135 177,583 172,982 Less: accumulated depreciation (100,658) (96,017) $ 76,925 $ 76,965 The depreciation expense for the years ended December 31, 2020, 2019, and 2018 was $5.8 million, $5.0 million, and $5.1 million, respectively. |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill And Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS The Company completed its annual assessment of the carrying value of goodwill during 2020 and concluded that its carrying value was not impaired. The Company's reporting unit had positive equity and a qualitative assessment was completed, indicating that it was not more likely than not that goodwill was impaired. The following table presents a roll forward of the Company's goodwill activity (in thousands): 2020 2019 Beginning balance $ 108,941 $ 109,567 Goodwill and adjustments acquired in conjunction with the acquisition of Poage — (583) Goodwill and adjustments acquired in conjunction with the acquisition of Farmers Deposit — (43) Ending balance $ 108,941 $ 108,941 The Company believes that the customer relationships with the deposits acquired have an intangible value. In connection with acquisitions, the Company recorded a core deposit intangible, which represented the value that the acquiree had with their deposit customers. The fair value was estimated based on a discounted cash flow methodology that considered the type of deposit, estimated deposit retention, the cost of the deposit base and an alternate cost of funds. The following tables present the details of the Company's core deposit intangibles (in thousands): 2020 2019 Gross carrying amount $ 21,190 $ 21,190 Accumulated amortization (11,539) (9,890) $ 9,651 $ 11,300 Beginning balance $ 11,300 $ 13,281 Amortization expense (1,649) (1,981) Ending balance $ 9,651 $ 11,300 The core deposit intangibles are being amortized over 10 years. The estimated amortization expense for core deposit intangible assets for each of the next five years is as follows (in thousands): 2021 $ 1,472 2022 1,386 2023 1,220 2024 1,209 2025 1,185 Thereafter 3,179 $ 9,651 |
Scheduled Maturities Of Time De
Scheduled Maturities Of Time Deposits | 12 Months Ended |
Dec. 31, 2020 | |
Maturities of Time Deposits [Abstract] | |
Scheduled Maturities Of Time Deposits | SCHEDULED MATURITIES OF TIME DEPOSITS Scheduled maturities of the Company's time deposits outstanding at December 31, 2020 are summarized as follows (in thousands): 2021 $ 931,862 2022 201,922 2023 87,440 2024 22,252 2025 16,097 Over five years 449 $ 1,260,022 The Company's time deposits that meet or exceed the FDIC insurance limit of $250,000 were $171.3 million and $184.4 million at December 31, 2020 and 2019, respectively. |
Short-Term Debt
Short-Term Debt | 12 Months Ended |
Dec. 31, 2020 | |
Short-term Debt [Abstract] | |
Short-Term Debt | SHORT-TERM DEBT A summary of the Company's short-term borrowings is as follows (dollars in thousands): 2020 2019 2018 Balance at end of year: Federal Home Loan Bank advances $ — $ — $ 40,000 Securities sold under agreements to repurchase 295,956 211,255 221,911 Federal Funds purchased — — — Avg. outstanding during the year: Federal Home Loan Bank advances $ 151 $ 10,752 $ 74,102 Securities sold under agreements to repurchase 253,289 200,697 190,702 Federal Funds purchased 16 3 353 Max. outstanding at any month end: Federal Home Loan Bank advances $ 9,900 $ 154,000 $ 185,000 Securities sold under agreements to repurchase 295,956 226,603 221,911 Federal Funds purchased — — 10,000 Weighted-average interest rate: During the year: Federal Home Loan Bank advances 0.85 % 2.72 % 2.21 % Securities sold under agreements to repurchase 0.39 1.59 0.93 Federal Funds purchased 0.83 2.84 2.10 End of the year: Federal Home Loan Bank advances 0.41 % 1.85 % 2.76 % Securities sold under agreements to repurchase 0.34 1.51 0.80 Federal Funds purchased — — — Through City National, the Company has approximately 37,000 shares of Federal Home Loan Bank ("FHLB") stock at par value as of December 31, 2020. Purchases of FHLB stock are required based on City National’s maximum borrowing capacity with the FHLB. Additionally, FHLB stock entitles the Company to dividends declared by the FHLB and provides an additional source of short-term and long-term funding in the form of collateralized advances. Financing obtained from the FHLB is based, in part, on the amount of qualifying collateral available, specifically 1-4 family residential mortgages, other residential mortgages, and commercial real estate and other non-residential mortgage loans. Collateral pledged to the FHLB included approximately $2.2 billion at December 31, 2020 and $2.3 billion at December 31, 2019 in investment securities and 1-4 family residential property loans. In addition to the short-term financing discussed above, City National had an additional $2.0 billion and $1.9 billion available from unused portions of lines of credit with the FHLB and other financial institutions at December 31, 2020 and 2019, respectively. |
Derivative Instruments
Derivative Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | DERIVATIVE INSTRUMENTS As of December 31, 2020 and 2019, the Company primarily utilizes non-hedging derivative financial instruments with commercial banking customers to facilitate their interest rate management strategies. For these instruments, the Company acts as an intermediary for its customers and has offsetting contracts with financial institution counterparties. Changes in the fair value of these underlying derivative contracts generally offset each other and do not significantly impact the Company's results of operations. The following table summarizes the notional and fair value of these derivative instruments (in thousands): December 31, 2020 December 31, 2019 Notional Amount Fair Value Notional Amount Fair Value Non-hedging interest rate derivatives: Customer counterparties: Loan interest rate swap - assets $ 647,613 $ 52,364 $ 377,534 $ 16,094 Loan interest rate swap - liabilities 37,721 562 189,803 3,214 Non-hedging interest rate derivatives: Financial institution counterparties: Loan interest rate swap - assets 37,721 562 189,803 3,214 Loan interest rate swap - liabilities 661,866 52,607 382,566 16,133 The following table summarizes the change in fair value of these derivative instruments (in thousands): Year Ended December 31, 2020 2019 2018 Change in Fair Value Non-Hedging Interest Rate Derivatives: Other income - derivative assets $ 27,240 $ 4,342 $ 1,316 Other income - derivative liabilities (27,240) (4,342) (1,316) Other expense - derivative liabilities 206 165 50 Certain financial instruments, including derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements. The Company's derivative transactions with financial institution counterparties are generally executed under International Swaps and Derivative Association ("ISDA") master agreements which include "right of setoff" provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Company does not generally offset financial instruments for financial reporting purposes. Pursuant to the Company's agreements with certain of its derivative financial institution counterparties, the Company may receive collateral or post collateral, which may be in the form of cash or securities, based upon mark-to-mark positions. The Company has posted collateral with a value of $68.4 million as of December 31, 2020. Loans associated with a customer counterparty loan interest rate swap agreement may be subject to a make whole penalty upon termination of the agreement. The dollar amount of the make whole penalty varies based on the remaining term of the agreement and market rates at that time. The make whole penalty is secured by equity in the specific collateral securing the loan. The Company estimates the make whole penalty when determining if there is sufficient collateral to pay off both the potential make whole penalty and the outstanding loan balance at the origination of the loan. In the event of a customer default, the make whole penalty is capitalized into the existing loan balance; however, no guarantees can be made that the collateral will be sufficient to cover both the make whole provision and the outstanding loan balance at the time of foreclosure. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): 2020 2019 Allowance for credit losses $ 5,883 $ 2,708 Deferred compensation payable 3,165 2,912 Underfunded pension liability 1,784 1,912 Accrued expenses 2,218 1,196 Other 4,543 8,570 Total Deferred Tax Assets 17,593 17,298 Unrealized securities gains 11,637 3,709 Other 9,158 6,920 Total Deferred Tax Liabilities 20,795 10,629 Net Deferred Tax (Liabilities)/Assets $ (3,202) $ 6,669 No material valuation allowances for deferred tax assets were recorded at December 31, 2020 or 2019 as the Company believes it is more likely than not that all of the deferred tax assets will be realized because they were supported by recoverable taxes paid in prior years. Significant components of the provision for income taxes are as follows (in thousands): 2020 2019 2018 Current: Federal $ 16,599 $ 16,636 $ 16,846 State 2,478 2,560 2,413 Total current tax expense 19,077 19,196 19,259 Total deferred tax expense 2,640 4,939 (1,244) Income tax expense $ 21,717 $ 24,135 $ 18,015 A reconciliation of the significant differences between the federal statutory income tax rate and the Company’s effective income tax rate is as follows (in thousands): 2020 2019 2018 Computed federal taxes at statutory rate $ 23,376 $ 23,832 $ 18,483 State income taxes, net of federal tax benefit 2,070 2,376 1,730 Tax effects of: Tax-exempt interest income (944) (733) (694) Bank-owned life insurance (929) (791) (649) Income tax credits (1,113) (889) (575) Other items, net (743) 340 (280) Income tax expense $ 21,717 $ 24,135 $ 18,015 The entire amount of the Company’s unrecognized tax benefits, if recognized, would favorably affect the Company’s effective tax rate. The Company anticipates that it will release $0.6 million over the next 12 months. A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows (in thousands): 2020 2019 Beginning balance $ 1,807 $ 1,811 Additions for current year tax positions 413 115 Additions for prior year tax positions 434 377 Decreases related to lapse of applicable statute of limitation (565) (496) Ending balance $ 2,089 $ 1,807 Interest and penalties on income tax uncertainties are included in income tax expense. During 2020, 2019 and 2018, the provision related to interest and penalties was approximately $0.2 million, $0.6 million, and $0.2 million, respectively. The balance of accrued interest and penalties at December 31, 2020 and 2019 was $0.9 million and $0.7 million, respectively. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service and various state taxing authorities for the years ended December 31, 2017 and forward. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS Pursuant to the terms of the City Holding Company 2013 Incentive Plan (the "2013 Plan"), the Compensation Committee of the Board of Directors, or its delegate, may, from time-to-time, grant stock options, stock appreciation rights ("SARs"), or stock awards (collectively, the "awards") to employees, directors and individuals who provide service to the Company (collectively, "Plan Participants"). The 2013 Plan was approved by the shareholders in April 2013. A maximum of 750,000 shares of the Company’s common stock may be issued under the 2013 Plan, subject to certain limitations. These limitations may be adjusted in the event of a change in the number of outstanding shares of common stock by reason of a stock dividend, stock split or other similar event. Specific terms of the awards granted, including the number of shares, vesting periods, exercise prices (for stock options) and expiration dates are determined at the date of grant and are evidenced by agreements between the Company and the awardee. The exercise price of the stock option grants equals the market price of the Company’s stock on the date of grant. All incentive stock options and SARs will be exercisable up to 10 years from the date granted and all options and SARs are exercisable for the period specified in the individual agreement. Upon a change-in-control of the Company, as defined in the 2013 Plan, all outstanding awards shall immediately vest. As of December 31, 2020, approximately 407,000 shares were still available to be issued under the 2013 Plan. Stock Options A summary of the Company’s stock option activity and related information is presented below: 2020 2019 2018 Options Weighted-Average Exercise Price Options Weighted-Average Exercise Price Options Weighted-Average Exercise Price Outstanding at January 1 46,251 $ 52.74 57,972 $ 51.15 87,605 $ 47.15 Granted — — — — — — Exercised (4,921) 45.17 (11,721) 44.87 (29,633) 39.31 Forfeited — — — — — — Outstanding at December 31 41,330 $ 53.64 46,251 $ 52.74 57,972 $ 51.15 Exercisable at end of year 21,459 $ 50.45 8,063 $ 44.48 2,697 $ 45.13 Nonvested at beginning of year 38,188 54.42 55,275 51.40 79,718 48.08 Granted during the year — — — — — — Vested during the year (18,317) 51.66 (17,087) 44.65 (24,443) 40.58 Forfeited during the year — — — — — — Nonvested at end of year 19,871 $ 56.97 38,188 $ 54.42 55,275 $ 51.40 Information regarding stock option exercises and stock-based compensation expense associated with stock options is provided in the following table (in thousands): For the year ended December 31, 2020 2019 2018 Proceeds from stock option exercises $ 223 $ 526 $ 1,164 Intrinsic value of stock options exercised 93 368 944 Stock-based compensation expense associated with stock options $ 60 $ 119 $ 178 Income tax benefit recognized related to stock-based compensation 5 12 19 At period-end: 2020 Unrecognized stock-based compensation expense $ 24 Weighted average period in which the above amount is expected to be recognized 0.9 years Shares issued in connection with stock option exercises are issued from available treasury shares. If no treasury shares are available, new shares would be issued from available authorized shares. During 2020, 2019 and 2018, all shares issued in connection with stock option exercises and restricted stock awards were issued from available treasury stock. For the stock options that have performance-based criteria, management has evaluated those criteria and has determined that, as of December 31, 2020, the criteria were probable of being met. Restricted Shares, Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) The Company measures compensation expense with respect to restricted shares, RSUs and PSUs (collectively, the "restricted shares") in an amount equal to the fair value of the common stock covered by each award on the date of grant. The restricted shares awarded become fully vested after various periods of continued employment from the respective dates of grant. The Company is entitled to an income tax deduction in an amount equal to the taxable income reported by the holders of the restricted shares when the restrictions are released and the shares are issued. Compensation is charged to expense over the respective vesting periods. Restricted shares are generally forfeited if officers and employees terminate employment with the Company prior to the lapsing of restrictions. The Company records forfeitures of restricted stock as treasury share repurchases and any compensation cost previously recognized is reversed in the period of forfeiture. Recipients of restricted shares do not pay any cash consideration to the Company for the shares, and generally have the right to vote all shares subject to such grant and receive all dividends with respect to such shares, whether or not the shares have vested. For the restricted shares that have performance-based criteria, management has evaluated those criteria and has determined that, as of December 31, 2020, the criteria were probable of being met. In 2018, the Board of Directors granted the named executive officers ("NEOs") of the Company restricted stock units ("RSUs") and performance share units ("PSUs"). The RSUs vest in three separate annual installments of approximately 33.33% per installment on the first, second and third anniversaries of the grant date, subject to a two-year holding period. The PSUs vest on the third anniversary of the grant date. The payout for the PSUs will be determined based on two factors: (1) the Company's three-year average return on assets ("ROA") during the three-year performance period relative to the ROA for the selected peer companies and (2) the Company's total shareholder return ("TSR") during the three-year performance period relative to the TSR of the selected peer companies. Until the time these shares transfer to the participant, the participant does not have the right to vote these shares, nor does the participant receive dividends during the outstanding period (however, dividends are accrued and payable upon transfer). For the restricted shares that have performance-based criteria, management periodically evaluates those criteria and adjusts the number of shares awarded, if necessary. A summary of the Company’s restricted shares activity and related information is presented below: 2020 2019 2018 Restricted Awards Average Market Price at Grant Restricted Awards Average Market Price at Grant Restricted Awards Average Market Price at Grant Outstanding at January 1 148,083 149,692 170,033 Granted 44,696 $ 69.28 44,598 $ 77.78 28,363 $ 69.94 Forfeited/Vested (34,225) (46,207) (48,704) Outstanding at December 31 158,554 148,083 149,692 Information regarding stock-based compensation associated with restricted shares is provided in the following table (in thousands): For the year ended December 31, 2020 2019 2018 Stock-based compensation expense associated with restricted shares $ 2,836 $ 2,022 $ 1,609 At period-end: 2020 Unrecognized stock-based compensation expense $ 5,278 Weighted average period in which the above amount is expected to be recognized 2.9 years 401(k) Plan The Company provides retirement benefits to its employees through the City Holding Company 401(k) Plan and Trust (the "401(k) Plan"), which is intended to be compliant with Employee Retirement Income Security Act (ERISA) section 404(c). Information regarding the Company’s 401(k) plan is provided in the following table (dollars in thousands): For the year ended December 31, 2020 2019 2018 Expense associated with the Company's 401(k) Plan $ 1,061 $ 1,023 $ 905 At period-end: Number of shares of the Company's common stock held by the 401(k) Plan 198,300 203,989 229,276 Defined Benefit Plans The Company maintains two defined benefit pension plans (the "Defined Benefit Plans"), which were inherited from the Company's acquisition of the plan sponsors (Horizon Bancorp, Inc. and Community Financial Corporation). The Horizon Defined Benefit Plan was frozen in 1999 and maintains a December 31st year-end for purposes of computing its benefit obligations. The Community Defined Benefit Plan was frozen in 2012 and was terminated during the year-ended December 31, 2018. Primarily as a result of the interest rate environment over the past several years and mortality table revisions, the benefit obligation exceeded the estimated fair value of plan assets as of December 31, 2020 and 2019. The following table summarizes activity within the Company's Defined Benefit Plans (dollars in thousands): Pension Benefits 2020 2019 Change in fair value of plan assets: Fair value at beginning of measurement period $ 11,884 $ 12,041 Actual gain on plan assets 1,324 880 Contributions 450 — Benefits paid (1,029) (1,037) Fair value at end of measurement period 12,629 11,884 Change in benefit obligation: Benefit obligation at beginning of measurement period (15,219) (14,222) Interest cost (448) (561) Actuarial gain (loss) 83 (21) Assumption changes (944) (1,452) Benefits paid 1,029 1,037 Settlement loss — — Benefit obligation at end of measurement period (15,499) (15,219) Funded status $ (2,870) $ (3,335) Weighted-average assumptions for benefit obligation: Discount rate 2.21 % 3.05 % Expected long-term rate of return 6.75 % 6.75 % Weighted-average assumptions for net periodic pension cost: Discount rate 3.05 % 4.10 % Expected long-term rate of return 6.75 % 6.75 % Based on the funding status of the Horizon Defined Benefit Plan, no contributions were required during the years ended December 31, 2020 and 2019. The Company made a $1.0 million contribution to the plan in January 2021. During 2017, the Company initiated the process to terminate the Community Defined Benefit plan. The Company made a $1.5 million terminal contribution in 2018 to terminate the plan. The following table presents the components of the net periodic pension cost of the Company's Defined Benefit Plans, which is recognized in Other Expenses in the Consolidated Statements of Income (in thousands): 2020 2019 2018 Components of net periodic benefit: Interest cost $ 448 $ 561 $ 590 Expected return on plan assets (814) (856) (1,080) Settlement — — 71 Net amortization and deferral 1,089 917 890 Net Periodic Pension Cost $ 723 $ 622 $ 471 Amounts related to the Company's Defined Benefit Pension Plans recognized as a component of other comprehensive income were as follows (in thousands): 2020 2019 2018 Net actuarial gain (loss) $ 737 $ (530) $ (1,092) Deferred tax (expense) benefit (128) 131 254 Other comprehensive income (loss), net of tax $ 609 $ (399) $ (838) Amounts recognized as a component of accumulated other comprehensive loss as of December 31, 2020 and 2019 were as follows (in thousands): 2020 2019 Net actuarial loss $ 7,445 $ 8,182 Deferred tax benefit (1,784) (1,912) Amounts included in accumulated other comprehensive income (loss), net of tax $ 5,661 $ 6,270 The following table summarizes the expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter (in thousands): Plan Year Ending December 31, Expected Benefits to be Paid 2021 $ 986 2022 984 2023 989 2024 978 2025 993 2026 through 2029 4,680 The major categories of assets in the Company’s Defined Benefit Plans as of year-end are presented in the following table (in thousands). Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value (See Note Eighteen ). Total Level 1 Level 2 Level 3 2020 Cash and cash equivalents $ 146 $ 146 $ — $ — U.S. government agencies 100 — 100 Common stocks 10,101 10,101 — — Corporate bonds 2,282 — 2,282 — Total $ 12,629 $ 10,247 $ 2,382 $ — 2019 Cash and cash equivalents $ 79 $ 79 $ — $ — Common stocks 6,787 6,787 — — Corporate bonds 5,018 — 5,018 — Total $ 11,884 $ 6,866 $ 5,018 $ — Horizon Defined Benefit Plan (Investment Strategy) During the fourth quarter of 2018, the Company changed the administrator of The Horizon Defined Benefit Plan to its trust department. The Company's pension committee has revised the plan's investment strategy and set a target allocation of 75% equity securities and 25% fixed income securities. The assets will be reallocated periodically to meet the above target allocations. A range is developed around each of these target allocations such that at any given time the actual allocation may be higher or lower than stated above (+ or - 10%). The overall investment return goal is to achieve a rate of return greater than a blended index of the S&P 500 and the Barclay's Capital Aggregate Bond Index, which is tailored to the same asset mix of the retirement plans assets, by 1/2 or 1% annualized after fees over a rolling five year moving average basis. At December 31, 2020, the plan assets were invested in equity securities (80%), fixed income securities (19%), and cash and cash equivalents (1%), which are in the allowable allocation range under the policy. Pentegra Defined Benefit Plan The Company and its subsidiary participate in the Pentegra Defined Benefit Plan for Financial Institutions ("The Pentegra DB Plan"), a tax-qualified defined benefit pension plan. The Pentegra DB Plan operates as a multi-employer plan for accounting purposes and as a multiple-employer plan under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code. There are no collective bargaining agreements in place that require contributions to the Pentegra DB Plan. The Pentegra DB Plan is a single plan under Internal Revenue Code Section 413(c) and, as a result, all of the assets stand behind all of the liabilities. Accordingly, under the Pentegra DB Plan, contributions made by a participating employer may be used to provide benefits to participants of other participating employers. The funded statuses below are as of July 1, 2020 (the latest available valuation report). It is the policy of the Company to fund the normal cost of the Pentegra DB Plan on an annual basis. Other than for normal plan expenses, no contributions were required for the years ended December 31, 2020, 2019 and 2018. The benefits of the original Pentegra Defined Benefit Plan were frozen prior to the acquisition of Classic Bancshares ("Classic") in 2005, and the benefits of the Poage Pentegra Defined Benefit Plan were frozen prior to the acquisition of Poage in 2018. It is the intention of the Company to fund benefit amounts when assets of the plan are not sufficient. Pentegra DB Plan's Employer Identification Number 13-5645888 Plan Number 333 Funded status for plan inherited with Classic acquisition 89.16% Funded status for plan inherited with Poage acquisition 91.56% Employment Contracts The Company has entered into employment contracts with certain of its current executive officers. The employment contracts provide for, among other things, the payment of termination compensation in the event an executive officer either voluntarily or involuntarily terminates his employment with the Company for other than "Just Cause" as defined in the applicable employment contract. Certain of the employment contracts provide for a termination benefit that became fully vested in 2005 and is payable if and when the executive officer terminates his employment with the Company. The termination benefit grows each year at an amount equal to the one-year constant maturity treasury rate and cannot be forfeited except where the executive officer personally profits from willful fraudulent activity that materially and adversely affects the Company. The costs of this vested termination benefit have been fully accrued and expensed by the Company as of December 31, 2020. The liability was $2.2 million and $2.1 million at December 31, 2020 and 2019, respectively. Other Post-Retirement Benefit Plans Certain entities previously acquired by the Company had entered into individual deferred compensation and supplemental retirement agreements with certain current and former directors and officers. The Company has assumed the liabilities associated with these agreements, the cost of which is being accrued over the period of active service from the date of the respective agreement. To assist in funding these liabilities, the acquired entities had insured the lives of certain current and former directors and officers. The Company is the current owner and beneficiary of those insurance policies. The following table presents a summary of the Company's other post-retirement benefit plans (in thousands). For the year ended December 31 2020 2019 2018 Cost of other post-retirement benefits $ 278 $ 304 $ 280 At period-end: Other post-retirement benefit liability (included in Other Liabilities) 6,093 6,570 6,923 Cash surrender value of insurance policies (included in Other Assets) 5,916 6,544 6,807 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS City National has granted loans to certain non-executive officers and directors of the Company and its subsidiaries, and to their associates. Principal Principal December 31, 2019 Additions Reductions December 31, 2020 Related Party Loans $ 20,382 $ 9,299 $ (10,214) $ 19,467 Unfunded commitments $ 13,006 $ 12,819 |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES COVID-19 The COVID-19 pandemic is creating extensive disruptions to the global economy and to the lives of individuals throughout the world. Governments, businesses, and the public are taking unprecedented actions to contain the spread of COVID-19 and to mitigate its effects, including quarantines, travel bans, shelter-in-place orders, closures of businesses and schools, fiscal stimulus, and legislation designed to deliver monetary aid and other relief. While the scope, duration, and full effects of COVID-19 are rapidly evolving and not fully known, the pandemic and related efforts to contain it have disrupted global economic activity, adversely affected the functioning of financial markets, impacted interest rates, increased economic and market uncertainty, and disrupted trade and supply chains. If these effects continue for a prolonged period or result in sustained economic stress or recession, the effects could have a material adverse impact on the Company in a number of ways related to credit, collateral, customer demand, funding, operations, interest rate risk, human capital and self-insurance, as well as financial statement related risk associated with critical accounting estimates such as the allowance for credit losses or valuation impairments on the Company's goodwill, intangible assets and deferred taxes. Credit Related Financial Instruments The Company is a party to certain financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. The Company has entered into agreements with its customers to extend credit or provide conditional commitment to provide payment on drafts presented in accordance with the terms of the underlying credit documents. The Company also provides overdraft protection to certain demand deposit customers that represent an unfunded commitment. Overdraft protection commitments, which are included with other commitments below, are uncollateralized and are paid at the Company’s discretion. Conditional commitments generally include standby and commercial letters of credit. Standby letters of credit represent an obligation of the Company to a designated third party contingent upon the failure of a customer of the Company to perform under the terms of the underlying contract between the customer and the third party. Commercial letters of credit are issued specifically to facilitate trade or commerce. Under the terms of a commercial letter of credit, drafts will be drawn when the underlying transaction is consummated, as intended, between the customer and a third party. The majority of the Company's commitments have variable interest rates. The funded portion of these financial instruments is reflected in the Company’s balance sheet, while the unfunded portion of these commitments is not reflected in the balance sheet. The table below presents a summary of the contractual obligations of the Company resulting from significant commitments (in thousands): December 31, 2020 December 31, 2019 Commitments to extend credit: Home equity lines $ 215,619 $ 214,715 Commercial real estate 65,828 56,941 Other commitments 245,647 213,904 Standby letters of credit 6,460 6,748 Commercial letters of credit 610 1,249 Loan commitments and standby and commercial letters of credit have credit risks essentially the same as those involved in extending loans to customers and are subject to the Company’s standard credit policies. Collateral is obtained based on management’s credit assessment of the customer. Management does not anticipate any material losses as a result of these commitments. Litigation In addition, the Company is engaged in various legal actions that it deems to be in the ordinary course of business. As these legal actions are resolved, the Company could realize positive and/or negative impact to its financial performance in the period in which these legal actions are ultimately decided. There can be no assurance that current actions will have immaterial results, either positive or negative, or that no material actions may be presented in the future. |
Preferred Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2020 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
Preferred Stock | PREFERRED STOCK The Company’s Board of Directors has the authority to issue preferred stock, and to determine the designation, preferences, rights, dividends and all other attributes of such preferred stock, without any vote or action by the shareholders. As of December 31, 2020, no such shares were outstanding, nor were any expected to be issued. |
Regulatory Requirements And Cap
Regulatory Requirements And Capital Ratios | 12 Months Ended |
Dec. 31, 2020 | |
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract] | |
Regulatory Requirements And Capital Ratios | REGULATORY REQUIREMENTS AND CAPITAL RATIOS The principal source of income and cash for City Holding (the "Parent Company") is dividends from City National. Dividends paid by City National to the Parent Company are subject to certain legal and regulatory limitations. Generally, any dividends in amounts that exceed the earnings retained by City National in the current year plus retained net profits for the preceding two years must be approved by regulatory authorities. Approval is also required if dividends declared would cause City National’s regulatory capital to fall below specified minimum levels. At December 31, 2020, City National could pay dividends up to $67.7 million without prior regulatory permission. During 2020, the Parent Company used cash obtained from the dividends received primarily to: (1) pay common dividends to shareholders and (2) fund repurchases of the Company's common shares. As of December 31, 2020, the Parent Company reported a cash balance of approximately $22.3 million. Management believes that the Parent Company’s available cash balance, together with cash dividends from City National, is adequate to satisfy its funding and cash needs in 2021. As of January 1, 2019, the Basel III Capital Rules require City Holding and City National to maintain minimum CET 1, Tier 1 and Total Capital ratios, along with a capital conservation buffer, effectively resulting in new minimum capital ratios (which are shown in the table below). The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of CET 1 capital to risk-weighted assets above the minimum but below the conservation buffer (or below the combined capital conservation buffer and countercyclical capital buffer, when the latter is applied) will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. The Basel III Capital Rules also provide for a "countercyclical capital buffer" that is applicable to only certain covered institutions and does not have any current applicability to City Holding Company or City National Bank. The Company’s regulatory capital ratios for both City Holding and City National include the 2.5% capital conservation buffer and are illustrated in the following tables (in thousands): December 31, 2020 Actual Minimum Required - Basel III Required to be Considered Well Capitalized Capital Amount Ratio Capital Amount Ratio Capital Amount Ratio CET 1 Capital City Holding Company $ 557,641 16.2 % $ 241,221 7.0 % $ 223,991 6.5 % City National Bank 482,754 14.1 % 239,569 7.0 % 222,457 6.5 % Tier 1 Capital City Holding Company 557,641 16.2 % 292,911 8.5 % 275,681 8.0 % City National Bank 482,754 14.1 % 290,906 8.5 % 273,793 8.0 % Total Capital City Holding Company 577,292 16.8 % 361,831 10.5 % 344,601 10.0 % City National Bank 502,405 14.7 % 359,354 10.5 % 342,242 10.0 % Tier 1 Leverage Ratio City Holding Company 557,641 10.2 % 218,163 4.0 % 272,704 5.0 % City National Bank 482,754 9.0 % 215,277 4.0 % 269,097 5.0 % December 31, 2019: Actual Minimum Required - Basel III Required to be Considered Well Capitalized Capital Amount Ratio Capital Amount Ratio Capital Amount Ratio CET 1 Capital City Holding Company $ 532,640 16.0 % $ 232,358 7.0 % $ 215,761 6.5 % City National Bank 459,006 13.9 % 230,808 7.0 % 214,322 6.5 % Tier 1 Capital City Holding Company 536,640 16.2 % 282,150 8.5 % 265,552 8.0 % City National Bank 459,006 13.9 % 280,267 8.5 % 263,781 8.0 % Total Capital City Holding Company 548,291 16.5 % 348,538 10.5 % 331,941 10.0 % City National Bank 470,656 14.3 % 346,213 10.5 % 329,726 10.0 % Tier 1 Leverage Ratio City Holding Company 536,640 11.0 % 195,558 4.0 % 244,448 5.0 % City National Bank 459,006 9.5 % 193,074 4.0 % 241,342 5.0 % As of December 31, 2020, management believes that City Holding Company, and its banking subsidiary, City National, were "well capitalized." City Holding is subject to regulatory capital requirements administered by the Federal Reserve, while City National is subject to regulatory capital requirements administered by the Office of the Comptroller of the Currency ("OCC") and the Federal Deposit Insurance Corporation ("FDIC"). Regulatory agencies can initiate certain mandatory actions if either City Holding or City National fails to meet the minimum capital requirements, as shown above. As of December 31, 2020, management believes that City Holding and City National meet all capital adequacy requirements. In November 2019, the federal banking regulators published final rules implementing a simplified measure of capital adequacy for certain banking organizations that have less than $10 billion in total consolidated assets. Under the final rules, which went into effect on January 1, 2020, depository institutions and depository institution holding companies that have less than $10 billion in total consolidated assets and meet other qualifying criteria, including a leverage ratio of greater than 9%, off–balance–sheet exposures of 25% or less of total consolidated assets and trading assets plus trading liabilities of 5% or less of total consolidated assets, are deemed "qualifying community banking organizations" and are eligible to opt into the |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 : Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 : Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are less active, and other inputs that are observable or can be corroborated by observable market data. Level 3 : Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company bases fair value of assets and liabilities on quoted market prices, prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. If such information is not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty creditworthiness, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the amount presented herein. A more detailed description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Financial Assets and Liabilities The Company used the following methods and significant assumptions to estimate fair value for financial assets and liabilities measured on a recurring basis. Securities Available for Sale . Securities available for sale are reported at fair value utilizing Level 1, Level 2, and Level 3 inputs. The fair value of securities available for sale is determined by utilizing a market approach by obtaining quoted prices on nationally recognized securities exchanges (other than forced or distressed transactions) that occur in sufficient volume or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities. If such measurements are unavailable, the security is classified as Level 3. Significant judgment is required to make this determination. The Company utilizes a third party pricing service provider to value its Level 1 and Level 2 investment securities. Annually, the Company obtains an independent auditor’s report from its third party pricing service provider regarding its controls over investment securities. Although an unqualified opinion regarding the design and operating effectiveness of controls was issued, the report did contain caveats and disclaimers regarding the pricing information, such as the Company should review market values for reasonableness. On a quarterly basis, the Company reprices its debt securities with a third party that is independent of the primary pricing service provider to verify the reasonableness of the fair values. Derivatives . Derivatives are reported at fair value utilizing Level 2 inputs. The Company utilizes a market approach by obtaining dealer quotations to value its customer interest rate swaps. The Company’s derivatives are included within "other assets" and "other liabilities" in the accompanying consolidated balance sheets. Derivative assets are typically secured through securities with financial counterparties or cross collateralization with a borrowing customer. Derivative liabilities are typically secured through the Company pledging securities to financial counterparties or, in the case of a borrowing customer, by the right of setoff. The Company considers factors such as the likelihood of default by itself and its counterparties, right of setoff, and remaining maturities in determining the appropriate fair value adjustments. All derivative counterparties approved by the Company's Asset and Liability Committee ("ALCO") are regularly reviewed, and appropriate business action is taken to adjust the exposure to certain counterparties, if necessary. Counterparty exposure is evaluated by netting positions that are subject to master netting agreements, as well as considering the amount of marketable collateral securing the position. This approach used to estimate impacted exposures to counterparties is also used by the Company to estimate its own credit risk in derivative liability positions. To date, no material losses have been incurred due to a counterparty's inability to pay any undercollateralized position. There was no significant change in the value of derivative assets and liabilities attributed to credit risk that would have resulted in a derivative credit risk valuation adjustment at December 31, 2020. The Company may be required, from time to time, to measure certain financial assets and financial liabilities at fair value on a nonrecurring basis. Financial assets measured at fair value on a nonrecurring basis include impaired loans reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. Collateral values are estimated using inputs based on observable market data. The following table presents the Company's assets and liabilities measured at fair value (in thousands): Total Level 1 Level 2 Level 3 Total Gains (Losses) December 31, 2020 Recurring fair value measurements Financial Assets U.S. Government agencies $ — $ — $ — $ — Obligations of states and political subdivisions 277,811 — 277,811 — Mortgage-backed securities: U.S. Government agencies 850,384 — 850,384 — Private label 10,892 — 6,061 4,831 Trust preferred securities 4,100 — 4,100 — Corporate securities 33,610 — 29,606 4,004 Marketable equity securities 11,839 6,800 5,039 — Certificates of deposit held for investment 1,992 — 1,992 — Derivative assets 53,166 — 53,166 — Financial Liabilities Derivative liabilities 53,288 — 53,288 — Nonrecurring fair value measurements Financial Assets Impaired loans $ 7,634 $ — $ — $ 7,634 $ (1,118) Non-Financial Assets Other real estate owned 1,650 — — 1,650 (292) Total Level 1 Level 2 Level 3 Total Gains (Losses) December 31, 2019 Recurring fair value measurements Financial Assets U.S. Government agencies $ 502 $ — $ 502 $ — Obligations of states and political subdivisions 117,187 — 117,187 — Mortgage-backed securities: U.S. Government agencies 642,104 — 642,104 — Private label 11,485 — 11,485 — Trust preferred securities 4,461 — 4,461 — Corporate securities 32,126 — 32,126 — Marketable equity securities 12,634 7,787 4,847 — Certificates of deposit held for investment 2,241 — 2,241 — Derivative assets 19,310 — 19,310 — Financial Liabilities Derivative liabilities 19,380 — 19,380 — Nonrecurring fair value measurements Financial Assets Impaired loans $ 8,925 $ — $ — $ 8,925 $ (87) Non-Financial Assets Other real estate owned 4,670 — — 4,670 (470) Other assets 100 — — 100 (297) The Company's financial assets and liabilities measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3) include impaired loans that were re-measured and reported at fair value through a specific valuation allowance allocation of the allowance for credit losses based upon the fair value of the underlying collateral (in thousands). The fair value of impaired loans is estimated using one of several methods, including collateral value, liquidation value and discounted cash flows. The significant unobservable inputs used in the fair value measurement of collateral for collateral-dependent impaired loans primarily relate to discounts applied to the customers’ reported amount of collateral. The amount of collateral discount depends upon the marketability of the underlying collateral. During the years ended December 31, 2020 and 2019, collateral discounts ranged from 15% to 30%. During the years ended December 31, 2020 and 2019, the Company had no Level 2 financial assets and liabilities that were measured on a nonrecurring basis. Non-Financial Assets and Liabilities The Company has no non-financial assets or liabilities measured at fair value on a recurring basis. Certain non-financial assets measured at fair value on a non-recurring basis include other real estate owned ("OREO"), which is measured at the lower of cost or fair value, and goodwill and other intangible assets, which are measured at fair value for impairment assessments. Fair Value of Financial Instruments ASC Topic 825 "Financial Instruments," as amended, requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including discount rates and estimate of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. ASC Topic 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The following table represents the estimates of fair value of financial instruments (in thousands). This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as noninterest-bearing demand, interest-bearing demand and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity. Carrying Amount Fair Value Level 1 Level 2 Level 3 December 31, 2020 Assets: Cash and cash equivalents $ 528,659 $ 528,659 $ 528,659 $ — $ — Securities available-for-sale 1,178,789 1,178,789 — 1,169,954 8,835 Marketable equity securities 11,839 11,839 6,800 5,039 — Net loans 3,597,570 3,578,013 — — 3,578,013 Accrued interest receivable 15,793 15,793 15,793 — — Derivative assets 53,166 53,166 — 53,166 — Liabilities: Deposits 4,652,216 4,665,905 3,392,194 1,273,711 — Short-term debt 295,956 295,956 — 295,956 — Accrued interest payable 1,586 1,586 1,586 — — Derivative liabilities 53,288 53,288 — 53,288 — December 31, 2019 Assets: Cash and cash equivalents $ 140,144 $ 140,144 $ 140,144 $ — $ — Securities available-for-sale 810,106 810,106 — 810,106 — Securities held-to-maturity 49,036 50,598 — 50,598 — Marketable equity securities 12,634 12,634 7,787 4,847 — Net loans 3,604,510 3,574,435 — — 3,574,435 Accrued interest receivable 11,569 11,569 11,569 — — Derivative assets 19,310 19,310 — 19,310 — Liabilities: Deposits 4,075,894 4,094,493 2,711,323 1,383,170 — Short-term debt 211,255 211,255 — 211,255 — Long-term debt 4,056 4,124 — 4,124 — Accrued interest payable 2,849 2,849 2,849 — — Derivative liabilities 19,380 19,380 — 19,380 — |
City Holding Company (Parent Co
City Holding Company (Parent Company Only) Financial Information | 12 Months Ended |
Dec. 31, 2020 | |
Condensed Financial Information Disclosure [Abstract] | |
City Holding Company (Parent Company Only) Financial Information | CITY HOLDING COMPANY (PARENT COMPANY ONLY) FINANCIAL INFORMATION Condensed Balance Sheets The following table presents the condensed balance sheets of City Holding Company, parent company only (in thousands): December 31 2020 2019 Assets Cash $ 22,335 $ 26,171 Securities available-for-sale 5,267 6,286 Investment in subsidiaries 681,744 638,490 Loans 624 663 Fixed assets 15 23 Other assets 932 643 Total Assets $ 710,917 $ 672,276 Liabilities Junior subordinated debentures $ — $ 4,056 Dividends payable 9,145 9,293 Deferred tax liability 298 534 Other liabilities 368 410 Total Liabilities 9,811 14,293 Total Shareholders’ Equity 701,106 657,983 Total Liabilities and Shareholders’ Equity $ 710,917 $ 672,276 On January 29, 2020, the Board of Directors of the Company authorized repayment of its Subordinated Debentures assumed by the Company as part of its acquisition of Poage at a price of 100% of the principal amount. Town Square Statutory Trust I repaid its Capital Securities on March 16, 2020 at a price of 100%. Condensed Statements of Comprehensive Income The following table presents the condensed statements of comprehensive income of City Holding Company, parent company only (in thousands): Year Ended December 31 2020 2019 2018 Income Dividends from subsidiaries $ 74,300 $ 58,000 $ 50,000 Realized and unrealized investment securities (losses) gains (1,018) 425 208 Other income 183 151 130 73,465 58,576 50,338 Expenses Interest expense 100 182 880 Merger related expenses — — 1,899 Other expenses 1,810 1,794 1,842 1,910 1,976 4,621 Income Before Income Tax Benefit and Equity in Undistributed Net Income of Subsidiaries 71,555 56,600 45,717 Income tax benefit (760) (455) (1,114) Income Before Equity in Undistributed Net Income of Subsidiaries 72,315 57,055 46,831 Equity in undistributed net income of subsidiaries 17,280 32,297 23,171 Net Income $ 89,595 $ 89,352 $ 70,002 Total Comprehensive Income $ 114,988 $ 109,674 $ 63,821 Condensed Statements of Cash Flows The following table presents the condensed statements of cash flows of City Holding Company, parent company only (in thousands): Year Ended December 31 2020 2019 2018 Operating Activities Net income $ 89,595 $ 89,352 $ 70,002 Adjustments to reconcile net income to net cash provided by operating activities: Unrealized and realized investment securities losses (gains) 1,018 (425) (208) (Benefit) provision for deferred income taxes (255) 173 (88) Depreciation, amortization and accretion, net 1 3 1 Stock based compensation 3,253 2,516 2,151 Asset write down — — 193 Change in other assets (284) 2,696 2,668 Change in other liabilities (2,936) (2,060) (1,816) Equity in undistributed net income (17,280) (32,297) (23,171) Net Cash Provided by Operating Activities 73,112 59,958 49,732 Investing Activities Proceeds from sales of available for sale securities — 6 — Net decrease in loans 39 38 — Acquisition of Farmers Deposit Bancorp, Inc., net of cash acquired of $946 — — (23,954) Acquisition of Poage Bankshares, Inc., net of cash acquired of $518 — — 502 Net Cash Provided by (Used in) Investing Activities 39 44 (23,452) Financing Activities Repayment of long-term debt (4,056) — (16,495) Proceeds from sale of capital securities — — 495 Dividends paid (36,673) (35,547) (29,583) Purchases of treasury stock (36,481) (19,431) (20,271) Exercise of stock options 223 526 1,164 Net Cash Used in Financing Activities (76,987) (54,452) (64,690) (Decrease) Increase in Cash and Cash Equivalents (3,836) 5,550 (38,410) Cash and cash equivalents at beginning of year 26,171 20,621 59,031 Cash and Cash Equivalents at End of Year $ 22,335 $ 26,171 $ 20,621 |
Summarized Quarterly Financial
Summarized Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summarized Quarterly Financial Information (Unaudited) | SUMMARIZED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) A summary of selected quarterly financial information (unaudited) is presented below (in thousands, except for per share data): First Quarter* Second Quarter Third Quarter Fourth Quarter 2020 Interest income $ 48,217 $ 44,312 $ 43,231 $ 42,499 Taxable equivalent adjustment 188 217 301 333 Interest income (FTE) 48,405 44,529 43,532 42,832 Interest expense 7,801 6,242 5,254 4,318 Net interest income 40,604 38,287 38,278 38,514 Provision for credit losses 7,972 1,250 1,026 474 Non-interest income 33,343 14,631 16,985 17,721 Non-interest expense 29,469 28,468 28,712 28,641 Income before income tax expense 36,506 23,200 25,525 27,120 Income tax expense 7,322 4,732 5,098 4,565 Taxable equivalent adjustment (188) (217) (301) (333) Net income available to common shareholders $ 28,996 $ 18,251 $ 20,126 $ 22,222 Net earnings allocated to common shareholders $ 28,736 $ 18,051 $ 19,929 $ 21,992 Basic earnings per common share $ 1.79 $ 1.12 $ 1.25 $ 1.40 Diluted earnings per common share 1.78 1.12 1.25 1.40 Average common shares outstanding: Basic 16,080 16,081 15,950 15,708 Diluted 16,101 16,097 15,970 15,733 *During this quarter the Company sold the entirety of its Visa Inc. Class B common shares in a cash transaction which resulted in a pre-tax gain of $17.8 million, or $0.84 diluted per share on an after-tax basis. 2019 Interest income $ 48,933 $ 50,238 $ 49,981 $ 48,548 Taxable equivalent adjustment 208 202 192 189 Interest income (FTE) 49,141 50,440 50,173 48,737 Interest expense 8,867 9,327 9,444 8,701 Net interest income 40,274 41,113 40,729 40,036 (Recovery of) provision for credit losses (849) (600) 274 (75) Non-interest income 15,925 17,825 16,698 18,042 Non-interest expense 29,411 30,772 28,397 29,034 Income before income tax expense 27,637 28,766 28,756 29,119 Income tax expense 5,810 5,813 6,193 6,319 Taxable equivalent adjustment (208) (202) (192) (189) Net income available to common shareholders $ 21,619 $ 22,751 $ 22,371 $ 22,611 Net earnings allocated to common shareholders $ 21,433 $ 22,553 $ 22,188 $ 22,372 Basic earnings per common share $ 1.31 $ 1.38 $ 1.36 $ 1.38 Diluted earnings per common share 1.30 1.38 1.36 1.38 Average common shares outstanding: Basic 16,411 16,368 16,271 16,207 Diluted 16,429 16,386 16,289 16,230 |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data): For the Year Ended December 31, 2020 2019 2018 Net income available to common shareholders $ 89,595 $ 89,352 $ 70,002 Less: earnings allocated to participating securities (887) (806) (654) Net earnings allocated to common shareholders $ 88,708 $ 88,546 $ 69,348 Distributed earnings allocated to common shares outstanding $ 35,745 $ 35,542 $ 32,483 Undistributed earnings allocated to common shares outstanding 52,963 53,004 36,865 Net earnings allocated to common shareholders $ 88,708 $ 88,546 $ 69,348 Average shares outstanding, basic 15,975 16,314 15,421 Effect of dilutive securities 20 19 18 Average shares outstanding, diluted 15,995 16,333 15,439 Basic earnings per share $ 5.55 $ 5.43 $ 4.50 Diluted earnings per share $ 5.55 $ 5.42 $ 4.49 Anti-dilutive options are not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares and therefore, the effect would have been anti-dilutive. Anti-dilutive options were not significant for any of the periods shown above. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The activity in accumulated other comprehensive income (loss) is presented in the tables below (in thousands). The activity is shown net of tax, which is calculated using a combined Federal and state income tax rate approximating 24% for 2020 and 23% for 2019. Accumulated Other Comprehensive Income (Loss) Unrealized Gains (Losses) on Defined Benefit Securities Pension Plans Available-for-Sale Total Balance at December 31, 2018 $ (5,871) $ (8,611) $ (14,482) Other comprehensive (loss) income before reclassifications (399) 20,775 20,376 Amounts reclassified from other comprehensive income (loss) — (54) (54) (399) 20,721 20,322 Balance at December 31, 2019 $ (6,270) $ 12,110 $ 5,840 Other comprehensive income before reclassifications 609 23,643 24,252 Amounts reclassified from other comprehensive income (loss) — (47) (47) Reclassification of unrealized gains on held-to-maturity securities to available-for-sale — 1,188 1,188 609 24,784 25,393 Balance at December 31, 2020 $ (5,661) $ 36,894 $ 31,233 Amounts reclassified from Other Comprehensive Income (Loss) Affected line item December 31, in the Consolidated 2020 2019 2018 Statements of Income Securities available-for-sale: Net securities gains reclassified into earnings $ (62) $ (69) $ — Net gains on sale of investment securities Related income tax expense 15 15 — Income tax expense Net effect on accumulated other comprehensive income (loss) $ (47) $ (54) $ — Defined benefit pension plans: Gain on termination of defined benefit plan $ — $ — $ 163 Other expenses Related income tax expense — — (38) Income tax expense Net effect on accumulated other comprehensive income (loss) $ — $ — $ 125 |
Contracts With Customers Contra
Contracts With Customers Contracts with Customers (Notes) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | NOTE TWENTY-THREE – CONTRACTS WITH CUSTOMERS The Company's largest source of revenue is comprised of net interest income on financial assets and financial liabilities, which is explicitly excluded from the scope of ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"), and non-interest income. The Company's significant sources of non-interest income are: service charges, bankcard revenue, trust and investment management fee income and bank owned life insurance (which is also excluded from ASC 606). The Company's significant policies related to contracts with customers are discussed below. Service Charges: Service charges consist of service charges on deposit accounts (monthly service fees, account analysis fees, non-sufficient funds ("NSF") fees and other deposit account related fees). For transaction based fees, the Company's performance obligation is generally satisfied, and the related revenue recognized, at a point in time. For nontransaction based fees, the Company's performance obligation is generally satisfied, and the related revenue recognized, over the period in which the service is provided (typically a month). Generally, payments are received immediately through a direct charge to the customer's account. Bankcard Revenue: Bankcard revenue is primarily comprised of debit card income and ATM fees. Debit card income is primarily comprised of interchange fees earned whenever the Company's debit cards are processed through card payment networks such as Mastercard. ATM fees are primarily generated when a non-Company cardholder uses a Company ATM or when a Company cardholder uses a non-Company ATM. The Company's performance obligation for bankcard revenue is generally satisfied, and the related revenue recognized, when the services are rendered. Generally, payments are received immediately or in the following month. Trust and Investment Management Fee Income: Trust and investment management fee income is primarily comprised of fees earned from the management and administration of customer assets. The Company's performance obligation is generally satisfied over time (typically a quarter), and the related revenue recognized, based upon the quarter-end market value of the assets under management and the applicable fee rate. Generally, payments are received a few days after quarter-end through a direct charge to the customer's account. The following table illustrates the disaggregation by the Company's major revenue streams (in thousands): Point of Revenue Recognition 2020 2019 2018 Major revenue streams Service charges At a point in time and over time $ 25,733 $ 31,515 $ 29,704 Bankcard revenue At a point in time 23,059 21,093 18,369 Trust and investment management fee income Over time 7,736 7,159 6,529 Other income At a point in time and over time 4,692 4,000 2,851 Net revenue from contracts with customers 61,220 63,767 57,453 Non-interest income within the scope of other GAAP topics 21,460 4,723 3,111 Total non-interest income $ 82,680 $ 68,490 $ 60,564 |
Summary Of Significant Accoun_2
Summary Of Significant Accounting And Reporting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting and Reporting Policies | Summary of Significant Accounting and Reporting Policies: The accounting and reporting policies of City Holding Company and its subsidiaries (the "Company") conform with U.S. generally accepted accounting principles and require management to make estimates and develop assumptions that affect the amounts reported in the financial statements and related footnotes. Actual results could differ from management’s estimates. The following is a summary of the more significant policies. |
Principles Of Consolidation | Principles of Consolidation: The consolidated financial statements include the accounts of City Holding Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity in conformity with U. S. generally accepted accounting principles. Voting interest entities are entities in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make decisions about the entity’s activities. The Company consolidates voting interest entities in which it has all, or at least a majority of, the voting interest. As defined in applicable accounting standards, variable interest entities (VIEs) are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The enterprise with a controlling financial interest, known as the primary beneficiary, consolidates the VIE. The Company’s wholly owned subsidiary, Town Square Statutory Trust I, is a VIE for which the Company is not the primary beneficiary. The Company also invests in certain limited partnerships that operate qualified low-income housing tax credit developments. These investments are considered variable interest entities for which the Company is not the primary beneficiary. Accordingly, the accounts of these entities are not included in the Company’s consolidated financial statements. Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. Such reclassifications had no impact on total shareholders’ equity or net income for any period. |
Cash and Due from Banks | Cash and Due from Banks: The Company considers cash, due from banks, and interest-bearing deposits in depository institutions as cash and cash equivalents. City National is required to maintain an average reserve balance with the Federal Reserve Bank of Richmond to compensate for services provided by the Federal Reserve and to meet statutory required reserves for demand deposits. |
Securities | Securities: Management determines the appropriate classification of securities at the time of purchase. If management has the intent and the Company has the ability at the time of purchase to hold debt securities to maturity, they are classified as investment securities held-to-maturity and are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts. Debt securities which the Company may not hold to maturity are classified as investment securities available-for-sale. Securities available-for-sale are carried at fair value, with the unrealized gains and losses, net of tax, reported in comprehensive income. Securities classified as available-for-sale include securities that management intends to use as part of its asset/liability and liquidity management strategy and that may be sold in response to changes in interest rates, resultant prepayment risk, and other factors. Certain investment securities that do not have readily determinable fair values and for which the Company does not exercise significant influence are carried at cost and classified as other investment securities on the Consolidated Balance Sheets. These cost-method investments are reviewed for impairment at least annually or sooner if events or changes in circumstances indicate the carrying value may not be recoverable. Marketable equity securities that consist of investments made by the Company in equity positions of various community banks are also classified as other investment securities on the Consolidated Balance Sheets. Changes in the fair value of the marketable equity securities are recorded in the Consolidated Statements of Income. For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For available-for-sale debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. Management employs a continuous monitoring process in regards to its marketable equity securities, specifically its portfolio of regional community bank holdings. Although the regional community bank stocks that are owned by the Company are publicly traded, the trading activity for these stocks is minimal. As part of management's review process for these securities, management reviews the financial condition of each respective community bank for any indications of financial weakness. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the uncollectibility of an available-for-sale debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. |
Fair Value of Financial Instruments, Policy | Fair Value of Financial Instruments: ASC Topic 825 " |
Loans | Loans: Loans, excluding previously securitized loans, which are discussed separately below, are reported at the principal amount outstanding, net of unearned income. Portfolio loans include those for which management has the intent and the Company has the ability to hold for the foreseeable future, or until maturity or payoff. The foreseeable future is based upon management’s judgment of current business strategies and market conditions, the type of loan, asset/liability management, and liquidity. Interest income on loans is accrued and credited to operations based upon the principal amount outstanding, using methods that generally result in level rates of return. Loan origination fees, and certain direct costs, are deferred and amortized as an adjustment to the yield over the term of the loan. The accrual of interest income generally is discontinued when a loan becomes 90 days past due as to principal or interest for all loan types. However, any loan may be placed on non-accrual status if the Company receives information that indicates that it is probable a borrower will be unable to meet the contractual terms of their respective loan agreement. Other indicators considered for placing a loan on non-accrual status include the borrower’s involvement in bankruptcies, foreclosures, repossessions, litigation and any other situation resulting in doubt as to whether full collection of contractual principal and interest is attainable. When interest accruals are discontinued, unpaid interest recognized in income in the current year is reversed, and interest accrued in prior years is charged to the allowance for credit losses. Management may elect to continue the accrual of interest when the estimated net realizable value of collateral exceeds the principal balance and related accrued interest, and the loan is in process of collection. Generally for all loan classes, payments during the period the loan is non-performing are recorded on a cash basis. Payments received on nonperforming loans are typically applied directly against the outstanding principal balance until the loan is fully repaid. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. Generally, all loan types are considered past due when the contractual terms of a loan are not met and the borrower is 30 days or more past due on a payment. Furthermore, all loans are generally subject to charge-off when the loan becomes 120 days past due, depending on the estimated fair value of the collateral less cost to dispose, versus the outstanding loan balance. |
Allowance for Loan Losses | Allowance for Credit Losses: The allowance for credit losses is a valuation account that is deducted from the loans' amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics, such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions, such as changes in unemployment rates, property values, or other relevant factors. These evaluations are conducted at least quarterly and more frequently if deemed necessary. In evaluating the appropriateness of its allowance for credit losses, the Company stratifies the loan portfolio into six major groupings. The Company has identified the following portfolio segments and measures the allowance for credit losses using the following methods: Portfolio Segment Measurement Method Commercial and industrial Migration Commercial real estate: 1-4 family Migration Hotels Migration Multi-family Migration Non Residential Non-Owner Occupied Migration Non Residential Owner Occupied Migration Residential real estate Vintage Home equity Vintage Consumer Vintage Migration is an analysis that tracks a closed pool of loans for a configurable period of time and calculates a loss ratio on only those loans in the pool at the start date based on outstanding balance. Vintage is a predictive loss model that includes a reasonable approximation of probable and estimable future losses by tracking each loan's net losses over the life of the loan as compared to its original balance. For demand deposit overdrafts, the allowance for credit losses is measured using the historical loss rate. Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not included in the collective evaluation. When management determines that foreclosure is probable, the expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. Expected credit losses are estimated over the contractual term of the loan, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a troubled-debt restructuring will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. |
Troubled Debt Restructuring | The Company’s policy on loan modifications typically does not allow for modifications that would be considered a concession from the Company. However, when there is a modification, the Company evaluates each modification to determine if the modification constitutes a troubled debt restructuring ("TDR") in accordance with ASU 2011-02, whereby a modification of a loan would be considered a TDR when both of the following conditions are met: (1) a borrower is experiencing financial difficulty and (2) the modification constitutes a concession. When determining whether the borrower is experiencing financial difficulties, the Company reviews whether the debtor is currently in payment default on any of its debt or whether it is probable that the debtor would be in payment default in the foreseeable future without the modification. Other indicators of financial difficulty include whether the debtor has declared or is in the process of declaring bankruptcy, the debtor’s ability t o continue as a going concern, or the debtor’s projected cash flow to service its debt (including principal and interest) in accordance with the contractual terms for the foreseeable future, without a modification. The allowance for credit loss on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit loss is determined by discounting the expected future cash flows at the original interest rate of the loan. In March of 2020, in response to the COVID-19 pandemic, regulatory guidance was issued that clarified the accounting for loan modifications. Modifications of loan terms do not automatically result in a TDR. Short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extension of repayment terms, or other delays that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time the modification program was implemented. In addition, modifications or deferrals pursuant to the CARES Act do not represent TDRs. However, these deferrals do not absolve the company from performing its normal risk rating and therefore a loan could be current and have a less than satisfactory risk rating. |
Bank Owned Life Insurance Policy | Bank Owned Life Insurance: The Company has purchased life insurance on certain executive officers and employees. The Company receives the cash surrender value of each policy upon its termination or benefits are payable upon the death of the insured. These policies are recorded on the Consolidated Balance Sheets at their net cash surrender value. Changes in the net cash surrender value are recognized in Bank Owned Life Insurance in the Consolidated Statements of Income. |
Premises and Equipment | Premises and Equipment: Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the assets. Depreciation of leasehold improvements is computed using the straight-line method over the lesser of the term of the respective lease or the estimated useful life of the respective asset. Maintenance and repairs are charged to expense as incurred, while improvements that extend the useful life of premises and equipment are capitalized and depreciated over the estimated remaining life of the asset. |
Other Real Estate Owned | Other Real Estate Owned: Other real estate owned ("OREO") is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is included in Other Assets at fair value less estimated selling costs. Changes to the value subsequent to transfer are recorded in non-interest expense, along with direct operating expenses. Gains or losses not previously recognized from sales of OREO are recognized in non-interest expense on the date of the sale. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets: Goodwill is the excess of the cost of an acquisition over the fair value of tangible and intangible assets acquired. Goodwill is not amortized. Intangible assets represent purchased assets that also lack physical substance, but can be separately distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. Intangible assets with determinable useful lives, such as core deposits, are amortized over their estimated useful lives. The Company performs an annual review for impairment in the recorded value of goodwill and indefinite lived intangible assets. Goodwill is tested for impairment between the annual tests if an event occurs or circumstances change that more than likely reduce the fair value of a reporting unit below its carrying value. An indefinite-lived intangible asset is tested for impairment between the annual tests if an event occurs or circumstances change indicating that the asset might be impaired. |
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase: Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold plus accrued interest. Securities sold primarily consists of U.S. government, federal agency, and municipal securities pledged as collateral under these financing arrangements and cannot be repledged or sold, unless replaced by the secured party. |
Derivative Financial Instruments | Derivative Financial Instruments: Derivative instruments are carried at fair value in the Company’s financial statements. The accounting for changes in the fair value of a derivative instrument is determined by whether it has been designated and qualifies as part of a hedging relationship, and further, by the type of hedging relationship. The Company primarily utilizes non-hedging derivative financial instruments with commercial banking customers to facilitate their interest |
Trust Assets | Trust Assets: Assets held in a fiduciary or agency capacity for customers are not included in the accompanying financial statements since such items are not assets of the Company. |
Income Taxes | Income Taxes: The consolidated provision for income taxes is based upon reported income and expense. Deferred income taxes are provided for temporary differences between financial reporting and tax bases of assets and liabilities, computed using enacted tax rates. The income tax effects related to settlements of share-based compensation awards are reported in earnings as an increase (or decrease) to income tax expense. The Company files a consolidated income tax return. The respective subsidiaries generally provide for income taxes on a separate return basis and remit amounts determined to be currently payable to the Parent Company. The Company and its subsidiaries are subject to examinations and challenges from federal and state taxing authorities regarding positions taken in returns. Uncertain tax positions are initially recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination. These positions are initially and subsequently measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the taxing authority and assuming full knowledge of the position and all relevant facts by the taxing authority. |
Advertising Costs | Advertising Costs: Advertising costs are expensed as incurred. |
Stock-Based Compensation | Stock-Based Compensation: Compensation expense related to stock options and restricted stock awards issued to employees is based upon the fair value of the award at the date of grant. The fair value of stock options is estimated utilizing a Black Scholes pricing model, while the fair value of restricted stock awards is based upon the stock price at the date of grant. Compensation expense is recognized on a straight line basis over the vesting period for options and the respective period for stock awards. |
Basic and Diluted Earnings per Common Share | Basic and Diluted Earnings per Common Share: Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding, excluding participating securities. Diluted earnings per share is computed by dividing net income by the weighted-average number of shares outstanding, excluding participating securities, increased by the number of shares of common stock which would be issued assuming the exercise of stock options and other common stock equivalents. |
Contracts With Customers Cont_2
Contracts With Customers Contracts with Customers (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition, Fees and Commissions, Depositor Accounts [Policy Text Block] | Service Charges: Service charges consist of service charges on deposit accounts (monthly service fees, account analysis fees, non-sufficient funds ("NSF") fees and other deposit account related fees). For transaction based fees, the Company's performance obligation is generally satisfied, and the related revenue recognized, at a point in time. For nontransaction based fees, the Company's performance obligation is generally satisfied, and the related revenue recognized, over the period in which the service is provided (typically a month). Generally, payments are received immediately through a direct charge to the customer's account. |
Revenue Recognition, Fees and Commissions, Debit Cards [Policy Text Block] | Bankcard Revenue: Bankcard revenue is primarily comprised of debit card income and ATM fees. Debit card income is primarily comprised of interchange fees earned whenever the Company's debit cards are processed through card payment networks such as Mastercard. ATM fees are primarily generated when a non-Company cardholder uses a Company ATM or when a Company cardholder uses a non-Company ATM. The Company's performance obligation for bankcard revenue is generally satisfied, and the related revenue recognized, when the services are rendered. Generally, payments are received immediately or in the following month. |
Revenue Recognition, Fees and Commissions, Fiduciary and Trust Activities [Policy Text Block] | Trust and Investment Management Fee Income: Trust and investment management fee income is primarily comprised of fees earned from the management and administration of customer assets. The Company's performance obligation is generally satisfied over time (typically a quarter), and the related revenue recognized, based upon the quarter-end market value of the assets under management and the applicable fee rate. Generally, payments are received a few days after quarter-end through a direct charge to the customer's account. |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Accounting Standards Update and Change in Accounting Principle | The following table illustrates the impact of ASC 326 (in thousands): As Reported Under Pre-ASC 326 Impact of ASC 326 ASC 326 Adoption Adoption Gross Loans $ 3,618,825 $ 3,616,099 $ 2,726 Allowance for Credit Losses (17,349) (11,589) (5,760) Deferred Tax Assets, net 7,380 6,669 711 Shareholders' Equity 655,648 657,983 (2,335) |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments [Abstract] | |
Aggregate Carrying And Approximate Market Values Of Available-For-Sale Securities | December 31, 2020 December 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available-for-sale: U.S. Treasuries and U.S. government agencies $ — $ — $ — $ — $ 500 $ 2 $ — $ 502 Obligations of states and political subdivisions 266,483 11,467 139 277,811 112,393 4,800 6 117,187 Mortgage-backed securities: U.S. government agencies 815,682 34,807 105 850,384 631,637 12,292 1,825 642,104 Private label 9,976 916 — 10,892 10,896 589 — 11,485 Trust preferred securities 4,557 — 457 4,100 4,781 27 347 4,461 Corporate securities 31,465 2,146 1 33,610 31,669 500 43 32,126 Total Debt Securities 1,128,163 49,336 702 1,176,797 791,876 18,210 2,221 807,865 Certificates of deposit held for investment 1,992 — — 1,992 2,241 — — 2,241 Total Securities Available-for-Sale $ 1,130,155 $ 49,336 $ 702 $ 1,178,789 $ 794,117 $ 18,210 $ 2,221 $ 810,106 |
Aggregate Carrying And Approximate Market Values Of Held-To-Maturity Securities | Securities held-to-maturity: Mortgage-backed securities: U.S. government agencies $ — $ — $ — $ — $ 49,036 $ 1,562 — $ 50,598 Total Securities Held-to-Maturity $ — $ — $ — $ — $ 49,036 $ 1,562 $ — $ 50,598 |
Gross Unrealized Losses And Fair Value Of Investments | The following table shows the gross unrealized losses and fair value of the Company’s investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): December 31, 2020 Less Than Twelve Months Twelve Months or Greater Total Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Securities available-for-sale: Obligations of states and political subdivisions $ 10,578 $ 139 $ — $ — $ 10,578 $ 139 Mortgage-backed securities: U.S. Government agencies 62,412 105 35 — 62,447 105 Trust preferred securities — — 4,100 457 4,100 457 Corporate securities 488 1 — — 488 1 Total available-for-sale $ 73,478 $ 245 $ 4,135 $ 457 $ 77,613 $ 702 December 31, 2019 Less Than Twelve Months Twelve Months or Greater Total Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Securities available-for-sale: Obligations of states and political subdivisions $ 230 $ — $ 1,439 $ 6 $ 1,669 $ 6 Mortgage-backed securities: U.S. Government agencies 123,289 1,247 34,746 578 158,035 1,825 Trust preferred securities 4,200 347 — — 4,200 347 Corporate securities 11,248 43 — — 11,248 43 Total available-for-sale $ 138,967 $ 1,637 $ 36,185 $ 584 $ 175,152 $ 2,221 There were no held-to-maturity securities in an unrealized loss position as of December 31, 2019. |
Amortized Cost And Estimated Fair Value Of Debt Securities By Contractual Maturity | The amortized cost and estimated fair value of debt securities at December 31, 2020, by contractual maturity, is shown in the following table (in thousands). Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. Mortgage-backed securities have been allocated to their respective maturity groupings based on their contractual maturity. Cost Estimated Fair Value Securities Available-for-Sale Due in one year or less $ 5,211 $ 5,307 Due after one year through five years 32,776 34,499 Due after five years through ten years 276,898 293,388 Due after ten years 813,278 843,603 $ 1,128,163 $ 1,176,797 |
Gross Gains And Losses Realized | Gross gains and gross losses realized by the Company from investment security transactions are summarized in the table below (in thousands): For the year ended December 31, 2020 2019 2018 Gross unrealized gains recognized on equity securities still held $ 223 $ 888 $ 208 Gross unrealized losses recognized on equity securities still held (1,086) — (298) Net unrealized (losses) gains recognized on equity securities still held $ (863) $ 888 $ (90) Gross realized gains $ 139 $ 226 $ — Gross realized losses (77) (157) — Net realized investment security gains $ 62 $ 69 $ — |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Summary Of Major Classifications For Loans | The following summarizes the Company’s major classifications for loans (in thousands): December 31, 2020 December 31, 2019 Commercial and industrial $ 372,989 $ 308,015 1-4 Family 109,812 N/R Hotels 294,464 N/R Multi-family 215,671 N/R Non Residential Non-Owner Occupied 641,351 N/R Non Residential Owner Occupied 213,484 N/R Commercial real estate 1,474,782 1,459,737 Residential real estate 1,587,694 1,640,396 Home equity 136,469 148,928 Consumer 47,688 54,263 DDA overdrafts 2,497 4,760 Gross loans 3,622,119 3,616,099 Allowance for credit losses (24,549) (11,589) Net loans $ 3,597,570 $ 3,604,510 Construction loans included in: Residential real estate $ 27,078 $ 29,033 Commercial real estate 40,449 64,049 N/R = Not reported. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. |
Allowance For Loan Losses (Tabl
Allowance For Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Receivables [Abstract] | |
Schedule Of Allowance For Loan Loss By Portfolio Segment | The following table summarizes the activity in the allowance for credit losses, by portfolio loan classification, for the years ended December 31, 2020, 2019 and 2018 (in thousands). The allocation of a portion of the allowance in one portfolio segment does not preclude its availability to absorb losses in other portfolio segments. Commercial and industrial Commercial real estate Residential real estate Home equity Consumer DDA overdrafts Total December 31, 2020 Allowance for loan loss Beginning balance $ 2,059 $ 2,606 $ 3,448 $ 1,187 $ 975 $ 1,314 $ 11,589 Impact of adopting CECL 1,715 3,254 2,139 (598) (810) 60 5,760 Charge-offs (843) (1,113) (1,250) (420) (192) (2,345) (6,163) Recoveries 91 525 184 136 238 1,467 2,641 Provision for (recovery of) credit losses 622 5,725 3,572 325 (48) 526 10,722 Ending balance $ 3,644 $ 10,997 $ 8,093 $ 630 $ 163 $ 1,022 $ 24,549 December 31, 2019 Allowance for loan loss Beginning balance $ 4,060 $ 4,495 $ 4,116 $ 1,268 $ 319 $ 1,708 $ 15,966 Charge-offs (261) (1,358) (787) (294) (1,177) (2,777) (6,654) Recoveries 764 624 369 — 265 1,505 3,527 (Recovery of) provision for credit losses (2,504) (1,155) (250) 213 1,568 878 (1,250) Ending balance $ 2,059 $ 2,606 $ 3,448 $ 1,187 $ 975 $ 1,314 $ 11,589 December 31, 2018 Allowance for loan loss Beginning balance $ 4,571 $ 6,183 $ 5,212 $ 1,138 $ 62 $ 1,670 $ 18,836 Charge-offs (733) (369) (682) (219) (769) (2,701) (5,473) Recoveries 2,152 732 367 — 166 1,496 4,913 (Recovery of) provision for credit losses (1,930) (2,051) (781) 349 860 1,243 (2,310) Ending balance $ 4,060 $ 4,495 $ 4,116 $ 1,268 $ 319 $ 1,708 $ 15,966 |
Financing Receivable, Nonaccrual | The following tables present the amortized cost basis of loans on non-accrual status and loans past due over 90 days still accruing as of December 31, 2020 (in thousands): Non-accrual With No Non-accrual With Loans Past Due Allowance for Allowance for Over 90 Days Credit Losses Credit Losses Still Accruing Commercial & Industrial $ 172 $ 596 $ — 1-4 Family — 2,056 — Hotels — 2,951 — Multi-family — — — Non Residential Non-Owner Occupied — 508 — Non Residential Owner Occupied 2,297 589 — Commercial Real Estate 2,297 6,104 — Residential Real Estate 21 2,947 — Home Equity — 95 — Consumer — — — Total $ 2,490 $ 9,742 $ — The following table presents the Company's loans on non-accrual status and loans past due over 90 days still accruing as of December 31, 2019 (in thousands): Loans Past Due Over 90 Days Non-accrual Still Accruing Commercial and industrial $ 1,182 $ 184 Commercial real estate 6,384 — Residential real estate 3,393 83 Home equity 531 — Consumer — — Total $ 11,490 $ 267 |
Schedule Of Aging Analysis Of Accruing And Non-Accruing Loans | The following presents the aging of the amortized cost basis in past-due loans as of December 31, 2020 and 2019 by class of loan (in thousands): December 31, 2020 30-59 60-89 90+ Total Current Non-accrual Total Commercial and industrial $ 1,213 $ 27 $ — $ 1,240 $ 370,981 $ 768 $ 372,989 1-4 Family 484 — — 484 107,272 2,056 109,812 Hotels — — — — 291,513 2,951 294,464 Multi-family — — — — 215,671 — 215,671 Non Residential Non-Owner Occupied 119 — — 119 640,724 508 641,351 Non Residential Owner Occupied 22 — — 22 210,576 2,886 213,484 Commercial real estate 625 — — 625 1,465,756 8,401 1,474,782 Residential real estate 5,177 816 — 5,993 1,578,733 2,968 1,587,694 Home equity 575 — — 575 135,799 95 136,469 Consumer 63 50 — 113 47,575 — 47,688 Overdrafts 334 7 — 341 2,156 — 2,497 Total $ 7,987 $ 900 $ — $ 8,887 $ 3,601,000 $ 12,232 $ 3,622,119 December 31, 2019 30-59 60-89 90+ Total Current Non-accrual Total Commercial and industrial $ 243 $ 31 $ 184 $ 458 $ 306,375 $ 1,182 $ 308,015 Commercial real estate 1,514 66 — 1,580 1,451,773 6,384 1,459,737 Residential real estate 5,758 1,643 83 7,484 1,629,519 3,393 1,640,396 Home equity 840 116 — 956 147,441 531 148,928 Consumer 156 32 — 188 54,075 — 54,263 Overdrafts 644 86 — 730 4,030 — 4,760 Total $ 9,155 $ 1,974 $ 267 $ 11,396 $ 3,593,213 $ 11,490 $ 3,616,099 |
Schedule Of Impaired Loans | The following table presents the amortized cost basis of individually evaluated impaired collateral-dependent loans as of December 31, 2020 (in thousands). Changes in the fair value of the collateral for collateral-dependent loans are reported as credit loss expense or a reversal of credit loss expense in the period of change. Secured by Real Estate Equipment Commercial and industrial $ 173 $ — 1-4 Family — N/A Hotels 2,837 N/A Multi-family — N/A Non Residential Non-Owner Occupied — N/A Non Residential Owner Occupied 2,296 N/A Commercial real estate 5,133 N/A Total $ 5,306 N/A The following table presents the Company’s individually evaluated impaired loans, by class (in thousands) as of December 31, 2019. December 31, 2019 Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial and industrial $ 501 $ 501 $ — Commercial real estate 3,546 3,572 — Total $ 4,047 $ 4,073 $ — With an allowance recorded: Commercial and industrial $ — $ — $ — Commercial real estate 2,644 2,644 87 Total $ 2,644 $ 2,644 $ 87 The following table presents information related to the average recorded investment and interest income recognized on the Company's impaired loans, by class (in thousands), for the years ended December 31, 2019 and 2018. December 31, 2019 December 31, 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no related allowance recorded: Commercial and industrial $ 578 $ — $ 845 $ — Commercial real estate 4,388 41 4,623 39 Total $ 4,966 $ 41 $ 5,468 $ 39 With an allowance recorded: Commercial and industrial $ — $ — $ — $ — Commercial real estate 4,261 162 5,043 220 Total $ 4,261 $ 162 $ 5,043 $ 220 If the Company's non-accrual and impaired loans had been current in accordance with their original terms, less than $0.2 million of interest income would have been recognized during the years ended December 31, 2019 and 2018. There were no commitments to provide additional funds on non-accrual or impaired loans at December 31, 2020. |
Schedule Of Troubled Debt Restructurings | The following tables set forth the Company’s TDRs (in thousands): December 31, 2020 December 31, 2019 Commercial and industrial $ — $ — 1-4 Family 121 N/R Hotels 2,634 N/R Multi-family 1,883 N/R Non Residential Non-Owner Occupied — N/R Non Residential Owner Occupied — N/R Commercial real estate 4,638 4,973 Residential real estate 19,226 21,029 Home equity 2,001 3,628 Consumer 277 — Total TDRs $ 26,142 $ 29,630 N/R = Not reported. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP . The Company has allocated $1.6 million and $0.8 million of the allowance for credit losses for these loans as of December 31, 2020 and December 31, 2019, respectively. As of December 31, 2020, the Company has not committed to lend any additional in relation to these loans. The Company had one TDR that subsequently defaulted in 2019. The loan balance was approximately $3.0 million and the subsequent default resulted in a charge-off of $0.7 million and the remaining balance was transferred to OREO during 2019. The Company has had no significant TDRs that subsequently defaulted in 2020. The following table presents loans by class, modified as TDRs, that occurred during the years ended December 31, 2020, 2019 and 2018, respectively (dollars in thousands): New TDRs New TDRs New TDRs For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 Pre Post Pre Post Pre Post Modification Modification Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Contracts Investment Investment Commercial and industrial — $ — $ — — $ — $ — — $ — $ — 1-4 Family — — — N/R N/R N/R N/R N/R N/R Hotels — — — N/R N/R N/R N/R N/R N/R Multi-family — — — N/R N/R N/R N/R N/R N/R Non Owner Non-Owner Occupied — — — N/R N/R N/R N/R N/R N/R Non Owner Owner Occupied — — — N/R N/R N/R N/R N/R N/R Commercial real estate — — — — — — — — — Residential real estate 29 2,724 2,720 31 2,531 2,531 33 2,326 2,326 Home equity 3 94 94 10 967 967 10 274 274 Consumer — — — — — — — — — Total 32 $ 2,818 $ 2,814 41 $ 3,498 $ 3,498 43 $ 2,600 $ 2,600 N/R = Not reported. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The TDRs above increased the allowance for credit losses by less than $0.1 million for each of the years ended of December 31, 2020, 2019 and 2018 and resulted in charge-offs of less than $0.2 million during those same time periods. Most TDRs above are reported due to filing Chapter 7 banktruptcy. Regulatory guidance requires that loans be accounted for as collateral-dependent loans when borrowers have filed Chapter 7 bankruptcy, the debt has been discharged by the bankruptcy court and the borrower has not reaffirmed the debt. The filing of bankruptcy is deemed to be evidence that the borrower is in financial difficulty and the discharge of debt by the bankruptcy court is deemed to be a concession granted to the borrower. COVID-19 Pandemic In March of 2020, in response to the COVID-19 pandemic, regulatory guidance was issued that clarified the accounting for loan modifications. Modifications of loan terms do not automatically result in a TDR. Short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extension of repayment terms, or other delays that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time the modification program was implemented. In addition, modifications or deferrals pursuant to the CARES Act do not represent TDRs. However, these deferrals do not absolve the company from performing its normal risk rating and therefore a loan could be current and have a less than satisfactory risk rating. During the year ended December 31, 2020, the Company granted deferrals of approximately $135 million to its mortgage customers. These deferral arrangements ranged from 30 days to 90 days. As of December 31, 2020, approximately $9 million of these loans were still deferring, while approximately $126 million have resumed making their normal loan payment. As of December 30, 2020, approximately $4 million of these deferrals were previously and currently considered TDRs due to Chapter 7 bankruptcies. |
Schedule Of Credit Quality Indicators | Based on the most recent analysis performed, the risk category of loans by class of loans at December 31, 2020 is as follows (in thousands): Revolving Term Loans Loans Amortized Cost Basis by Origination Year and Risk Level Amortized 2020 2019 2018 2017 2016 Prior Cost Basis Total Commercial and industrial Pass $ 123,920 $ 51,972 $ 59,152 $ 30,440 $ 16,673 $ 6,942 $ 75,018 $ 364,117 Special mention 72 27 13 47 — 433 508 1,100 Substandard 783 1,553 918 589 268 1,733 1,928 7,772 Total $ 124,775 $ 53,552 $ 60,083 $ 31,076 $ 16,941 $ 9,108 $ 77,454 $ 372,989 Commercial real estate - Total Pass $ 312,363 $ 296,876 $ 179,038 $ 142,678 $ 147,772 $ 280,107 $ 25,560 $ 1,384,394 Special mention 442 5,288 1,196 127 159 3,370 — 10,582 Substandard 1,159 22,224 1,855 13,734 9,574 30,938 322 79,806 Total $ 313,964 $ 324,388 $ 182,089 $ 156,539 $ 157,505 $ 314,415 $ 25,882 $ 1,474,782 Commercial real estate - 1-4 Family Pass $ 19,970 $ 17,540 $ 8,217 $ 7,444 $ 6,158 $ 33,075 $ 10,274 $ 102,678 Special mention 192 — — — 159 753 — 1,104 Substandard 119 343 — 863 102 4,603 — 6,030 Total $ 20,281 $ 17,883 $ 8,217 $ 8,307 $ 6,419 $ 38,431 $ 10,274 $ 109,812 Commercial real estate - Hotels Pass $ 23,886 $ 95,269 $ 26,206 $ 42,593 $ 21,490 $ 43,686 $ — $ 253,130 Substandard 343 15,412 — 6,750 4,465 14,364 — 41,334 Total $ 24,229 $ 110,681 $ 26,206 $ 49,343 $ 25,955 $ 58,050 $ — $ 294,464 Commercial real estate - Multi-family Pass $ 81,127 $ 56,371 $ 2,688 $ 20,730 $ 23,873 $ 27,009 $ 1,363 $ 213,161 Special mention — 1,883 551 — — — — 2,434 Substandard — — — — — 76 — 76 Total $ 81,127 $ 58,254 $ 3,239 $ 20,730 $ 23,873 $ 27,085 $ 1,363 $ 215,671 Revolving Term Loans Loans Amortized Cost Basis by Origination Year and Risk Level Amortized 2020 2019 2018 2017 2016 Prior Cost Basis Total Commercial real estate - Non Residential Non-Owner Occupied Pass $ 155,937 $ 101,011 $ 115,524 $ 51,329 $ 76,219 $ 125,349 $ 8,825 $ 634,194 Special mention 16 504 592 37 — 147 — 1,296 Substandard 580 1,385 1,159 52 1,187 1,338 160 5,861 Total $ 156,533 $ 102,900 $ 117,275 $ 51,418 $ 77,406 $ 126,834 $ 8,985 $ 641,351 Commercial real estate - Non Residential Owner Occupied Pass $ 31,443 $ 26,685 $ 26,403 $ 20,582 $ 20,032 $ 50,988 $ 5,098 $ 181,231 Special mention 234 2,901 53 90 — 2,470 — 5,748 Substandard 117 5,084 696 6,069 3,820 10,557 162 26,505 Total $ 31,794 $ 34,670 $ 27,152 $ 26,741 $ 23,852 $ 64,015 $ 5,260 $ 213,484 Residential real estate Performing $ 407,135 $ 233,709 $ 176,523 $ 134,425 $ 102,828 $ 416,473 $ 113,633 $ 1,584,726 Non-performing — — — 164 41 1,184 1,579 2,968 Total $ 407,135 $ 233,709 $ 176,523 $ 134,589 $ 102,869 $ 417,657 $ 115,212 $ 1,587,694 Home equity Performing $ 9,038 $ 6,241 $ 5,375 $ 2,126 $ 1,309 $ 11,573 $ 100,712 $ 136,374 Non-performing — — — — — — 95 95 Total $ 9,038 $ 6,241 $ 5,375 $ 2,126 $ 1,309 $ 11,573 $ 100,807 $ 136,469 Consumer Performing $ 15,342 $ 14,977 $ 9,229 $ 3,154 $ 1,688 $ 1,422 $ 1,876 $ 47,688 Non-performing — — — — — — — — Total $ 15,342 $ 14,977 $ 9,229 $ 3,154 $ 1,688 $ 1,422 $ 1,876 $ 47,688 The following table presents the Company's commercial loans by credit quality indicators, by portfolio loan classification (in thousands), as of December 31, 2019: Commercial and industrial Commercial real estate Total Pass $ 276,847 $ 1,408,644 $ 1,685,491 Special mention 2,472 13,838 16,310 Substandard 28,696 37,255 65,951 Doubtful — — — Total $ 308,015 $ 1,459,737 $ 1,767,752 The following table presents the Company's non-commercial loans by payment performance, by portfolio loan classification (in thousands), as of December 31, 2019: Performing Non-Performing Total Residential real estate $ 1,636,920 $ 3,476 $ 1,640,396 Home equity 148,397 531 148,928 Consumer 54,263 — 54,263 DDA overdrafts 4,760 — 4,760 Total $ 1,844,340 $ 4,007 $ 1,848,347 |
Premises And Equipment (Tables)
Premises And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Summary Of Premises And Equipment | A summary of premises and equipment and related accumulated depreciation is summarized as follows (in thousands): Estimated Useful Life 2020 2019 Land $ 34,185 $ 34,185 Buildings and improvements 10 to 30 yrs. 97,091 95,662 Equipment 3 to 7 yrs. 46,307 43,135 177,583 172,982 Less: accumulated depreciation (100,658) (96,017) $ 76,925 $ 76,965 |
Goodwill And Other Intangible_2
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The following table presents a roll forward of the Company's goodwill activity (in thousands): 2020 2019 Beginning balance $ 108,941 $ 109,567 Goodwill and adjustments acquired in conjunction with the acquisition of Poage — (583) Goodwill and adjustments acquired in conjunction with the acquisition of Farmers Deposit — (43) Ending balance $ 108,941 $ 108,941 |
Schedule Of Core Deposit Intangibles | The Company believes that the customer relationships with the deposits acquired have an intangible value. In connection with acquisitions, the Company recorded a core deposit intangible, which represented the value that the acquiree had with their deposit customers. The fair value was estimated based on a discounted cash flow methodology that considered the type of deposit, estimated deposit retention, the cost of the deposit base and an alternate cost of funds. The following tables present the details of the Company's core deposit intangibles (in thousands): 2020 2019 Gross carrying amount $ 21,190 $ 21,190 Accumulated amortization (11,539) (9,890) $ 9,651 $ 11,300 Beginning balance $ 11,300 $ 13,281 Amortization expense (1,649) (1,981) Ending balance $ 9,651 $ 11,300 |
Schedule of Estimated Future Amortization Expense for Core Deposits | The estimated amortization expense for core deposit intangible assets for each of the next five years is as follows (in thousands): 2021 $ 1,472 2022 1,386 2023 1,220 2024 1,209 2025 1,185 Thereafter 3,179 $ 9,651 |
Scheduled Maturities Of Time _2
Scheduled Maturities Of Time Deposits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Maturities of Time Deposits [Abstract] | |
Scheduled Maturities Of Time Deposits | Scheduled maturities of the Company's time deposits outstanding at December 31, 2020 are summarized as follows (in thousands): 2021 $ 931,862 2022 201,922 2023 87,440 2024 22,252 2025 16,097 Over five years 449 $ 1,260,022 |
Short-Term Debt (Tables)
Short-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Short-term Debt [Abstract] | |
Summary Of Short-Term Borrowings | A summary of the Company's short-term borrowings is as follows (dollars in thousands): 2020 2019 2018 Balance at end of year: Federal Home Loan Bank advances $ — $ — $ 40,000 Securities sold under agreements to repurchase 295,956 211,255 221,911 Federal Funds purchased — — — Avg. outstanding during the year: Federal Home Loan Bank advances $ 151 $ 10,752 $ 74,102 Securities sold under agreements to repurchase 253,289 200,697 190,702 Federal Funds purchased 16 3 353 Max. outstanding at any month end: Federal Home Loan Bank advances $ 9,900 $ 154,000 $ 185,000 Securities sold under agreements to repurchase 295,956 226,603 221,911 Federal Funds purchased — — 10,000 Weighted-average interest rate: During the year: Federal Home Loan Bank advances 0.85 % 2.72 % 2.21 % Securities sold under agreements to repurchase 0.39 1.59 0.93 Federal Funds purchased 0.83 2.84 2.10 End of the year: Federal Home Loan Bank advances 0.41 % 1.85 % 2.76 % Securities sold under agreements to repurchase 0.34 1.51 0.80 Federal Funds purchased — — — |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value Of Derivative Instruments | The following table summarizes the notional and fair value of these derivative instruments (in thousands): December 31, 2020 December 31, 2019 Notional Amount Fair Value Notional Amount Fair Value Non-hedging interest rate derivatives: Customer counterparties: Loan interest rate swap - assets $ 647,613 $ 52,364 $ 377,534 $ 16,094 Loan interest rate swap - liabilities 37,721 562 189,803 3,214 Non-hedging interest rate derivatives: Financial institution counterparties: Loan interest rate swap - assets 37,721 562 189,803 3,214 Loan interest rate swap - liabilities 661,866 52,607 382,566 16,133 |
Change In Fair Value Of Derivative Instruments | The following table summarizes the change in fair value of these derivative instruments (in thousands): Year Ended December 31, 2020 2019 2018 Change in Fair Value Non-Hedging Interest Rate Derivatives: Other income - derivative assets $ 27,240 $ 4,342 $ 1,316 Other income - derivative liabilities (27,240) (4,342) (1,316) Other expense - derivative liabilities 206 165 50 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Summary Of Deferred Tax Assets And Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands): 2020 2019 Allowance for credit losses $ 5,883 $ 2,708 Deferred compensation payable 3,165 2,912 Underfunded pension liability 1,784 1,912 Accrued expenses 2,218 1,196 Other 4,543 8,570 Total Deferred Tax Assets 17,593 17,298 Unrealized securities gains 11,637 3,709 Other 9,158 6,920 Total Deferred Tax Liabilities 20,795 10,629 Net Deferred Tax (Liabilities)/Assets $ (3,202) $ 6,669 |
Summary Of Income Tax Expense | Significant components of the provision for income taxes are as follows (in thousands): 2020 2019 2018 Current: Federal $ 16,599 $ 16,636 $ 16,846 State 2,478 2,560 2,413 Total current tax expense 19,077 19,196 19,259 Total deferred tax expense 2,640 4,939 (1,244) Income tax expense $ 21,717 $ 24,135 $ 18,015 |
Reconciliation Of The Significant Differences Between The Federal Statutory Income Tax Rate And Effective Income Tax Rate | A reconciliation of the significant differences between the federal statutory income tax rate and the Company’s effective income tax rate is as follows (in thousands): 2020 2019 2018 Computed federal taxes at statutory rate $ 23,376 $ 23,832 $ 18,483 State income taxes, net of federal tax benefit 2,070 2,376 1,730 Tax effects of: Tax-exempt interest income (944) (733) (694) Bank-owned life insurance (929) (791) (649) Income tax credits (1,113) (889) (575) Other items, net (743) 340 (280) Income tax expense $ 21,717 $ 24,135 $ 18,015 |
Reconciliation Of The Unrecognized Tax Benefits Rollforward | A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows (in thousands): 2020 2019 Beginning balance $ 1,807 $ 1,811 Additions for current year tax positions 413 115 Additions for prior year tax positions 434 377 Decreases related to lapse of applicable statute of limitation (565) (496) Ending balance $ 2,089 $ 1,807 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Multiemployer Plans [Line Items] | |
Summary Of Stock Option Activity | A summary of the Company’s stock option activity and related information is presented below: 2020 2019 2018 Options Weighted-Average Exercise Price Options Weighted-Average Exercise Price Options Weighted-Average Exercise Price Outstanding at January 1 46,251 $ 52.74 57,972 $ 51.15 87,605 $ 47.15 Granted — — — — — — Exercised (4,921) 45.17 (11,721) 44.87 (29,633) 39.31 Forfeited — — — — — — Outstanding at December 31 41,330 $ 53.64 46,251 $ 52.74 57,972 $ 51.15 Exercisable at end of year 21,459 $ 50.45 8,063 $ 44.48 2,697 $ 45.13 Nonvested at beginning of year 38,188 54.42 55,275 51.40 79,718 48.08 Granted during the year — — — — — — Vested during the year (18,317) 51.66 (17,087) 44.65 (24,443) 40.58 Forfeited during the year — — — — — — Nonvested at end of year 19,871 $ 56.97 38,188 $ 54.42 55,275 $ 51.40 Information regarding stock option exercises and stock-based compensation expense associated with stock options is provided in the following table (in thousands): For the year ended December 31, 2020 2019 2018 Proceeds from stock option exercises $ 223 $ 526 $ 1,164 Intrinsic value of stock options exercised 93 368 944 Stock-based compensation expense associated with stock options $ 60 $ 119 $ 178 Income tax benefit recognized related to stock-based compensation 5 12 19 At period-end: 2020 Unrecognized stock-based compensation expense $ 24 Weighted average period in which the above amount is expected to be recognized 0.9 years |
Restricted Shares Activity And Related Information | A summary of the Company’s restricted shares activity and related information is presented below: 2020 2019 2018 Restricted Awards Average Market Price at Grant Restricted Awards Average Market Price at Grant Restricted Awards Average Market Price at Grant Outstanding at January 1 148,083 149,692 170,033 Granted 44,696 $ 69.28 44,598 $ 77.78 28,363 $ 69.94 Forfeited/Vested (34,225) (46,207) (48,704) Outstanding at December 31 158,554 148,083 149,692 Information regarding stock-based compensation associated with restricted shares is provided in the following table (in thousands): For the year ended December 31, 2020 2019 2018 Stock-based compensation expense associated with restricted shares $ 2,836 $ 2,022 $ 1,609 At period-end: 2020 Unrecognized stock-based compensation expense $ 5,278 Weighted average period in which the above amount is expected to be recognized 2.9 years |
Summary of 401k Activity [Table Text Block] | 401(k) Plan The Company provides retirement benefits to its employees through the City Holding Company 401(k) Plan and Trust (the "401(k) Plan"), which is intended to be compliant with Employee Retirement Income Security Act (ERISA) section 404(c). Information regarding the Company’s 401(k) plan is provided in the following table (dollars in thousands): For the year ended December 31, 2020 2019 2018 Expense associated with the Company's 401(k) Plan $ 1,061 $ 1,023 $ 905 At period-end: Number of shares of the Company's common stock held by the 401(k) Plan 198,300 203,989 229,276 |
Summary Of Activity Within The Defined Benefit Plan | The following table summarizes activity within the Company's Defined Benefit Plans (dollars in thousands): Pension Benefits 2020 2019 Change in fair value of plan assets: Fair value at beginning of measurement period $ 11,884 $ 12,041 Actual gain on plan assets 1,324 880 Contributions 450 — Benefits paid (1,029) (1,037) Fair value at end of measurement period 12,629 11,884 Change in benefit obligation: Benefit obligation at beginning of measurement period (15,219) (14,222) Interest cost (448) (561) Actuarial gain (loss) 83 (21) Assumption changes (944) (1,452) Benefits paid 1,029 1,037 Settlement loss — — Benefit obligation at end of measurement period (15,499) (15,219) Funded status $ (2,870) $ (3,335) Weighted-average assumptions for benefit obligation: Discount rate 2.21 % 3.05 % Expected long-term rate of return 6.75 % 6.75 % Weighted-average assumptions for net periodic pension cost: Discount rate 3.05 % 4.10 % Expected long-term rate of return 6.75 % 6.75 % |
Net Periodic Pension Cost Of The Defined Benefit Plan | The following table presents the components of the net periodic pension cost of the Company's Defined Benefit Plans, which is recognized in Other Expenses in the Consolidated Statements of Income (in thousands): 2020 2019 2018 Components of net periodic benefit: Interest cost $ 448 $ 561 $ 590 Expected return on plan assets (814) (856) (1,080) Settlement — — 71 Net amortization and deferral 1,089 917 890 Net Periodic Pension Cost $ 723 $ 622 $ 471 |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) | Amounts related to the Company's Defined Benefit Pension Plans recognized as a component of other comprehensive income were as follows (in thousands): 2020 2019 2018 Net actuarial gain (loss) $ 737 $ (530) $ (1,092) Deferred tax (expense) benefit (128) 131 254 Other comprehensive income (loss), net of tax $ 609 $ (399) $ (838) Amounts recognized as a component of accumulated other comprehensive loss as of December 31, 2020 and 2019 were as follows (in thousands): 2020 2019 Net actuarial loss $ 7,445 $ 8,182 Deferred tax benefit (1,784) (1,912) Amounts included in accumulated other comprehensive income (loss), net of tax $ 5,661 $ 6,270 |
Summary Of Expected Benefit Payments | The following table summarizes the expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter (in thousands): Plan Year Ending December 31, Expected Benefits to be Paid 2021 $ 986 2022 984 2023 989 2024 978 2025 993 2026 through 2029 4,680 |
Summary Of Assets Segregated By Level Of Valuation Inputs Within The Fair Value Hierarchy | The major categories of assets in the Company’s Defined Benefit Plans as of year-end are presented in the following table (in thousands). Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value (See Note Eighteen ). Total Level 1 Level 2 Level 3 2020 Cash and cash equivalents $ 146 $ 146 $ — $ — U.S. government agencies 100 — 100 Common stocks 10,101 10,101 — — Corporate bonds 2,282 — 2,282 — Total $ 12,629 $ 10,247 $ 2,382 $ — 2019 Cash and cash equivalents $ 79 $ 79 $ — $ — Common stocks 6,787 6,787 — — Corporate bonds 5,018 — 5,018 — Total $ 11,884 $ 6,866 $ 5,018 $ — |
Summary of Pentegra Plans [Table Text Block] | Pentegra Defined Benefit Plan The Company and its subsidiary participate in the Pentegra Defined Benefit Plan for Financial Institutions ("The Pentegra DB Plan"), a tax-qualified defined benefit pension plan. The Pentegra DB Plan operates as a multi-employer plan for accounting purposes and as a multiple-employer plan under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code. There are no collective bargaining agreements in place that require contributions to the Pentegra DB Plan. The Pentegra DB Plan is a single plan under Internal Revenue Code Section 413(c) and, as a result, all of the assets stand behind all of the liabilities. Accordingly, under the Pentegra DB Plan, contributions made by a participating employer may be used to provide benefits to participants of other participating employers. The funded statuses below are as of July 1, 2020 (the latest available valuation report). It is the policy of the Company to fund the normal cost of the Pentegra DB Plan on an annual basis. Other than for normal plan expenses, no contributions were required for the years ended December 31, 2020, 2019 and 2018. The benefits of the original Pentegra Defined Benefit Plan were frozen prior to the acquisition of Classic Bancshares ("Classic") in 2005, and the benefits of the Poage Pentegra Defined Benefit Plan were frozen prior to the acquisition of Poage in 2018. It is the intention of the Company to fund benefit amounts when assets of the plan are not sufficient. Pentegra DB Plan's Employer Identification Number 13-5645888 Plan Number 333 Funded status for plan inherited with Classic acquisition 89.16% Funded status for plan inherited with Poage acquisition 91.56% |
Summary of Other Post-Retirement Benefits [Table Text Block] | Other Post-Retirement Benefit Plans Certain entities previously acquired by the Company had entered into individual deferred compensation and supplemental retirement agreements with certain current and former directors and officers. The Company has assumed the liabilities associated with these agreements, the cost of which is being accrued over the period of active service from the date of the respective agreement. To assist in funding these liabilities, the acquired entities had insured the lives of certain current and former directors and officers. The Company is the current owner and beneficiary of those insurance policies. The following table presents a summary of the Company's other post-retirement benefit plans (in thousands). For the year ended December 31 2020 2019 2018 Cost of other post-retirement benefits $ 278 $ 304 $ 280 At period-end: Other post-retirement benefit liability (included in Other Liabilities) 6,093 6,570 6,923 Cash surrender value of insurance policies (included in Other Assets) 5,916 6,544 6,807 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transaction [Line Items] | |
Schedule of Related Party Transactions [Table Text Block] | Principal Principal December 31, 2019 Additions Reductions December 31, 2020 Related Party Loans $ 20,382 $ 9,299 $ (10,214) $ 19,467 Unfunded commitments $ 13,006 $ 12,819 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Contractual Obligations From Significant Commitments | The table below presents a summary of the contractual obligations of the Company resulting from significant commitments (in thousands): December 31, 2020 December 31, 2019 Commitments to extend credit: Home equity lines $ 215,619 $ 214,715 Commercial real estate 65,828 56,941 Other commitments 245,647 213,904 Standby letters of credit 6,460 6,748 Commercial letters of credit 610 1,249 |
Regulatory Requirements And C_2
Regulatory Requirements And Capital Ratios (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract] | |
Schedule Of Capital Amounts And Ratios | December 31, 2020 Actual Minimum Required - Basel III Required to be Considered Well Capitalized Capital Amount Ratio Capital Amount Ratio Capital Amount Ratio CET 1 Capital City Holding Company $ 557,641 16.2 % $ 241,221 7.0 % $ 223,991 6.5 % City National Bank 482,754 14.1 % 239,569 7.0 % 222,457 6.5 % Tier 1 Capital City Holding Company 557,641 16.2 % 292,911 8.5 % 275,681 8.0 % City National Bank 482,754 14.1 % 290,906 8.5 % 273,793 8.0 % Total Capital City Holding Company 577,292 16.8 % 361,831 10.5 % 344,601 10.0 % City National Bank 502,405 14.7 % 359,354 10.5 % 342,242 10.0 % Tier 1 Leverage Ratio City Holding Company 557,641 10.2 % 218,163 4.0 % 272,704 5.0 % City National Bank 482,754 9.0 % 215,277 4.0 % 269,097 5.0 % December 31, 2019: Actual Minimum Required - Basel III Required to be Considered Well Capitalized Capital Amount Ratio Capital Amount Ratio Capital Amount Ratio CET 1 Capital City Holding Company $ 532,640 16.0 % $ 232,358 7.0 % $ 215,761 6.5 % City National Bank 459,006 13.9 % 230,808 7.0 % 214,322 6.5 % Tier 1 Capital City Holding Company 536,640 16.2 % 282,150 8.5 % 265,552 8.0 % City National Bank 459,006 13.9 % 280,267 8.5 % 263,781 8.0 % Total Capital City Holding Company 548,291 16.5 % 348,538 10.5 % 331,941 10.0 % City National Bank 470,656 14.3 % 346,213 10.5 % 329,726 10.0 % Tier 1 Leverage Ratio City Holding Company 536,640 11.0 % 195,558 4.0 % 244,448 5.0 % City National Bank 459,006 9.5 % 193,074 4.0 % 241,342 5.0 % |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring And Nonrecurring Basis | The following table presents the Company's assets and liabilities measured at fair value (in thousands): Total Level 1 Level 2 Level 3 Total Gains (Losses) December 31, 2020 Recurring fair value measurements Financial Assets U.S. Government agencies $ — $ — $ — $ — Obligations of states and political subdivisions 277,811 — 277,811 — Mortgage-backed securities: U.S. Government agencies 850,384 — 850,384 — Private label 10,892 — 6,061 4,831 Trust preferred securities 4,100 — 4,100 — Corporate securities 33,610 — 29,606 4,004 Marketable equity securities 11,839 6,800 5,039 — Certificates of deposit held for investment 1,992 — 1,992 — Derivative assets 53,166 — 53,166 — Financial Liabilities Derivative liabilities 53,288 — 53,288 — Nonrecurring fair value measurements Financial Assets Impaired loans $ 7,634 $ — $ — $ 7,634 $ (1,118) Non-Financial Assets Other real estate owned 1,650 — — 1,650 (292) Total Level 1 Level 2 Level 3 Total Gains (Losses) December 31, 2019 Recurring fair value measurements Financial Assets U.S. Government agencies $ 502 $ — $ 502 $ — Obligations of states and political subdivisions 117,187 — 117,187 — Mortgage-backed securities: U.S. Government agencies 642,104 — 642,104 — Private label 11,485 — 11,485 — Trust preferred securities 4,461 — 4,461 — Corporate securities 32,126 — 32,126 — Marketable equity securities 12,634 7,787 4,847 — Certificates of deposit held for investment 2,241 — 2,241 — Derivative assets 19,310 — 19,310 — Financial Liabilities Derivative liabilities 19,380 — 19,380 — Nonrecurring fair value measurements Financial Assets Impaired loans $ 8,925 $ — $ — $ 8,925 $ (87) Non-Financial Assets Other real estate owned 4,670 — — 4,670 (470) Other assets 100 — — 100 (297) |
Schedule Of Estimates Of Fair Value Of Financial Instruments | Carrying Amount Fair Value Level 1 Level 2 Level 3 December 31, 2020 Assets: Cash and cash equivalents $ 528,659 $ 528,659 $ 528,659 $ — $ — Securities available-for-sale 1,178,789 1,178,789 — 1,169,954 8,835 Marketable equity securities 11,839 11,839 6,800 5,039 — Net loans 3,597,570 3,578,013 — — 3,578,013 Accrued interest receivable 15,793 15,793 15,793 — — Derivative assets 53,166 53,166 — 53,166 — Liabilities: Deposits 4,652,216 4,665,905 3,392,194 1,273,711 — Short-term debt 295,956 295,956 — 295,956 — Accrued interest payable 1,586 1,586 1,586 — — Derivative liabilities 53,288 53,288 — 53,288 — December 31, 2019 Assets: Cash and cash equivalents $ 140,144 $ 140,144 $ 140,144 $ — $ — Securities available-for-sale 810,106 810,106 — 810,106 — Securities held-to-maturity 49,036 50,598 — 50,598 — Marketable equity securities 12,634 12,634 7,787 4,847 — Net loans 3,604,510 3,574,435 — — 3,574,435 Accrued interest receivable 11,569 11,569 11,569 — — Derivative assets 19,310 19,310 — 19,310 — Liabilities: Deposits 4,075,894 4,094,493 2,711,323 1,383,170 — Short-term debt 211,255 211,255 — 211,255 — Long-term debt 4,056 4,124 — 4,124 — Accrued interest payable 2,849 2,849 2,849 — — Derivative liabilities 19,380 19,380 — 19,380 — |
City Holding Company (Parent _2
City Holding Company (Parent Company Only) Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Balance Sheets | The following table presents the condensed balance sheets of City Holding Company, parent company only (in thousands): December 31 2020 2019 Assets Cash $ 22,335 $ 26,171 Securities available-for-sale 5,267 6,286 Investment in subsidiaries 681,744 638,490 Loans 624 663 Fixed assets 15 23 Other assets 932 643 Total Assets $ 710,917 $ 672,276 Liabilities Junior subordinated debentures $ — $ 4,056 Dividends payable 9,145 9,293 Deferred tax liability 298 534 Other liabilities 368 410 Total Liabilities 9,811 14,293 Total Shareholders’ Equity 701,106 657,983 Total Liabilities and Shareholders’ Equity $ 710,917 $ 672,276 |
Condensed Statements Of Comprehensive Income | The following table presents the condensed statements of comprehensive income of City Holding Company, parent company only (in thousands): Year Ended December 31 2020 2019 2018 Income Dividends from subsidiaries $ 74,300 $ 58,000 $ 50,000 Realized and unrealized investment securities (losses) gains (1,018) 425 208 Other income 183 151 130 73,465 58,576 50,338 Expenses Interest expense 100 182 880 Merger related expenses — — 1,899 Other expenses 1,810 1,794 1,842 1,910 1,976 4,621 Income Before Income Tax Benefit and Equity in Undistributed Net Income of Subsidiaries 71,555 56,600 45,717 Income tax benefit (760) (455) (1,114) Income Before Equity in Undistributed Net Income of Subsidiaries 72,315 57,055 46,831 Equity in undistributed net income of subsidiaries 17,280 32,297 23,171 Net Income $ 89,595 $ 89,352 $ 70,002 Total Comprehensive Income $ 114,988 $ 109,674 $ 63,821 |
Condensed Statements Of Cash Flows | The following table presents the condensed statements of cash flows of City Holding Company, parent company only (in thousands): Year Ended December 31 2020 2019 2018 Operating Activities Net income $ 89,595 $ 89,352 $ 70,002 Adjustments to reconcile net income to net cash provided by operating activities: Unrealized and realized investment securities losses (gains) 1,018 (425) (208) (Benefit) provision for deferred income taxes (255) 173 (88) Depreciation, amortization and accretion, net 1 3 1 Stock based compensation 3,253 2,516 2,151 Asset write down — — 193 Change in other assets (284) 2,696 2,668 Change in other liabilities (2,936) (2,060) (1,816) Equity in undistributed net income (17,280) (32,297) (23,171) Net Cash Provided by Operating Activities 73,112 59,958 49,732 Investing Activities Proceeds from sales of available for sale securities — 6 — Net decrease in loans 39 38 — Acquisition of Farmers Deposit Bancorp, Inc., net of cash acquired of $946 — — (23,954) Acquisition of Poage Bankshares, Inc., net of cash acquired of $518 — — 502 Net Cash Provided by (Used in) Investing Activities 39 44 (23,452) Financing Activities Repayment of long-term debt (4,056) — (16,495) Proceeds from sale of capital securities — — 495 Dividends paid (36,673) (35,547) (29,583) Purchases of treasury stock (36,481) (19,431) (20,271) Exercise of stock options 223 526 1,164 Net Cash Used in Financing Activities (76,987) (54,452) (64,690) (Decrease) Increase in Cash and Cash Equivalents (3,836) 5,550 (38,410) Cash and cash equivalents at beginning of year 26,171 20,621 59,031 Cash and Cash Equivalents at End of Year $ 22,335 $ 26,171 $ 20,621 |
Summarized Quarterly Financia_2
Summarized Quarterly Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary Of Selected Quarterly Financial Information | A summary of selected quarterly financial information (unaudited) is presented below (in thousands, except for per share data): First Quarter* Second Quarter Third Quarter Fourth Quarter 2020 Interest income $ 48,217 $ 44,312 $ 43,231 $ 42,499 Taxable equivalent adjustment 188 217 301 333 Interest income (FTE) 48,405 44,529 43,532 42,832 Interest expense 7,801 6,242 5,254 4,318 Net interest income 40,604 38,287 38,278 38,514 Provision for credit losses 7,972 1,250 1,026 474 Non-interest income 33,343 14,631 16,985 17,721 Non-interest expense 29,469 28,468 28,712 28,641 Income before income tax expense 36,506 23,200 25,525 27,120 Income tax expense 7,322 4,732 5,098 4,565 Taxable equivalent adjustment (188) (217) (301) (333) Net income available to common shareholders $ 28,996 $ 18,251 $ 20,126 $ 22,222 Net earnings allocated to common shareholders $ 28,736 $ 18,051 $ 19,929 $ 21,992 Basic earnings per common share $ 1.79 $ 1.12 $ 1.25 $ 1.40 Diluted earnings per common share 1.78 1.12 1.25 1.40 Average common shares outstanding: Basic 16,080 16,081 15,950 15,708 Diluted 16,101 16,097 15,970 15,733 *During this quarter the Company sold the entirety of its Visa Inc. Class B common shares in a cash transaction which resulted in a pre-tax gain of $17.8 million, or $0.84 diluted per share on an after-tax basis. 2019 Interest income $ 48,933 $ 50,238 $ 49,981 $ 48,548 Taxable equivalent adjustment 208 202 192 189 Interest income (FTE) 49,141 50,440 50,173 48,737 Interest expense 8,867 9,327 9,444 8,701 Net interest income 40,274 41,113 40,729 40,036 (Recovery of) provision for credit losses (849) (600) 274 (75) Non-interest income 15,925 17,825 16,698 18,042 Non-interest expense 29,411 30,772 28,397 29,034 Income before income tax expense 27,637 28,766 28,756 29,119 Income tax expense 5,810 5,813 6,193 6,319 Taxable equivalent adjustment (208) (202) (192) (189) Net income available to common shareholders $ 21,619 $ 22,751 $ 22,371 $ 22,611 Net earnings allocated to common shareholders $ 21,433 $ 22,553 $ 22,188 $ 22,372 Basic earnings per common share $ 1.31 $ 1.38 $ 1.36 $ 1.38 Diluted earnings per common share 1.30 1.38 1.36 1.38 Average common shares outstanding: Basic 16,411 16,368 16,271 16,207 Diluted 16,429 16,386 16,289 16,230 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule Of Computation Of Basic And Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data): For the Year Ended December 31, 2020 2019 2018 Net income available to common shareholders $ 89,595 $ 89,352 $ 70,002 Less: earnings allocated to participating securities (887) (806) (654) Net earnings allocated to common shareholders $ 88,708 $ 88,546 $ 69,348 Distributed earnings allocated to common shares outstanding $ 35,745 $ 35,542 $ 32,483 Undistributed earnings allocated to common shares outstanding 52,963 53,004 36,865 Net earnings allocated to common shareholders $ 88,708 $ 88,546 $ 69,348 Average shares outstanding, basic 15,975 16,314 15,421 Effect of dilutive securities 20 19 18 Average shares outstanding, diluted 15,995 16,333 15,439 Basic earnings per share $ 5.55 $ 5.43 $ 4.50 Diluted earnings per share $ 5.55 $ 5.42 $ 4.49 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The activity in accumulated other comprehensive income (loss) is presented in the tables below (in thousands). The activity is shown net of tax, which is calculated using a combined Federal and state income tax rate approximating 24% for 2020 and 23% for 2019. Accumulated Other Comprehensive Income (Loss) Unrealized Gains (Losses) on Defined Benefit Securities Pension Plans Available-for-Sale Total Balance at December 31, 2018 $ (5,871) $ (8,611) $ (14,482) Other comprehensive (loss) income before reclassifications (399) 20,775 20,376 Amounts reclassified from other comprehensive income (loss) — (54) (54) (399) 20,721 20,322 Balance at December 31, 2019 $ (6,270) $ 12,110 $ 5,840 Other comprehensive income before reclassifications 609 23,643 24,252 Amounts reclassified from other comprehensive income (loss) — (47) (47) Reclassification of unrealized gains on held-to-maturity securities to available-for-sale — 1,188 1,188 609 24,784 25,393 Balance at December 31, 2020 $ (5,661) $ 36,894 $ 31,233 |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income | Amounts reclassified from Other Comprehensive Income (Loss) Affected line item December 31, in the Consolidated 2020 2019 2018 Statements of Income Securities available-for-sale: Net securities gains reclassified into earnings $ (62) $ (69) $ — Net gains on sale of investment securities Related income tax expense 15 15 — Income tax expense Net effect on accumulated other comprehensive income (loss) $ (47) $ (54) $ — Defined benefit pension plans: Gain on termination of defined benefit plan $ — $ — $ 163 Other expenses Related income tax expense — — (38) Income tax expense Net effect on accumulated other comprehensive income (loss) $ — $ — $ 125 |
Contracts With Customers Disagg
Contracts With Customers Disaggregation of Revenue (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from External Customer [Line Items] | |
Disaggregation of Revenue [Table Text Block] | The following table illustrates the disaggregation by the Company's major revenue streams (in thousands): Point of Revenue Recognition 2020 2019 2018 Major revenue streams Service charges At a point in time and over time $ 25,733 $ 31,515 $ 29,704 Bankcard revenue At a point in time 23,059 21,093 18,369 Trust and investment management fee income Over time 7,736 7,159 6,529 Other income At a point in time and over time 4,692 4,000 2,851 Net revenue from contracts with customers 61,220 63,767 57,453 Non-interest income within the scope of other GAAP topics 21,460 4,723 3,111 Total non-interest income $ 82,680 $ 68,490 $ 60,564 |
Summary Of Significant Accoun_3
Summary Of Significant Accounting And Reporting Policies (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($)branch | Dec. 31, 2019USD ($) | |
Condensed Financial Statements, Captions [Line Items] | ||
Number of Reportable Segments | 1 | |
DiscontinuationofInterestThresholdDays | 90 days | |
Financing Receivable, Threshold Period Past Due | 30 days | |
Threshold period past due for write-off of financing receivable | 120 days | |
Other real estate, foreclosed assets, and repossessed assets | $ 1,700 | $ 4,700 |
Amortization Method Qualified Affordable Housing Project Investments | 14,400 | 10,100 |
Qualified Affordable Housing Project Investments, Commitment | 6,800 | 3,200 |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 0 | $ 4,056 |
Repayment Price Junior Subordinated Deferrable Interest Debentures | 100.00% | |
Subordinated Borrowing, Interest Rate | 3.74% | |
City National | ||
Condensed Financial Statements, Captions [Line Items] | ||
Number of offices | branch | 94 |
Recent Accounting Pronounceme_3
Recent Accounting Pronouncements Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands | Jan. 01, 2020 | Dec. 31, 2019 |
Financing Receivable | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Post Adoption Balance | $ 3,618,825 | |
Pre-Adoption Balance | $ 3,616,099 | |
New Accounting Pronouncement, Effect of Adoption, Quantification | 2,726 | |
Deferred Income Tax Asset, Net | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Post Adoption Balance | 7,380 | |
Pre-Adoption Balance | 6,669 | |
New Accounting Pronouncement, Effect of Adoption, Quantification | 711 | |
Shareholders Equity Attributable to Parent | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Post Adoption Balance | 655,648 | |
Pre-Adoption Balance | 657,983 | |
New Accounting Pronouncement, Effect of Adoption, Quantification | (2,335) | |
Financing Receivable, Allowance | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Post Adoption Balance | 17,349 | |
Pre-Adoption Balance | $ 11,589 | |
New Accounting Pronouncement, Effect of Adoption, Quantification | $ (5,760) |
Restrictions On Cash Due From_2
Restrictions On Cash Due From Banks (Details) $ in Millions | Dec. 31, 2019USD ($) |
Restricted Cash and Investments [Abstract] | |
Reserve balance | $ 47.3 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Investments [Line Items] | |||
Marketable Securities | $ 1,206,161,000 | $ 887,632,000 | |
nongovernmentalissuerover10%ofequity | 0 | 0 | |
Credit-related net investment impairment losses | 0 | 0 | $ 0 |
Asset Pledged as Collateral [Member] | |||
Schedule of Investments [Line Items] | |||
Debt Securities, Available-for-sale, Restricted | $ 644,000,000 | 518,000,000 | |
VISA, Inc. (VISA) [Member] | |||
Schedule of Investments [Line Items] | |||
Investment Owned, Balance, Shares | 86,605 | ||
Debt and Equity Securities, Realized Gain (Loss) | $ 17,800,000 | ||
Investment Owned, Balance, Principal Amount | 0 | ||
Equity Securities | |||
Schedule of Investments [Line Items] | |||
Marketable Securities | 11,800,000 | 12,600,000 | |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | |||
Schedule of Investments [Line Items] | |||
Equity Securities without Readily Determinable Fair Value, Amount | $ 15,500,000 | $ 15,900,000 | |
First National Corporation (FXNC) [Domain] | Maximum | |||
Schedule of Investments [Line Items] | |||
Equity ownership positions in the community bank holding companies | 4.00% | ||
Eagle Financial Services, Inc. (EFSI) [Domain] | Maximum | |||
Schedule of Investments [Line Items] | |||
Equity ownership positions in the community bank holding companies | 1.50% |
Investments (Aggregate Carrying
Investments (Aggregate Carrying And Approximate Market Values Of Available-For-Sale Securities) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, amortized cost | $ 1,130,155 | $ 794,117 |
Available-for-sale debt securities, accumulated gross unrealized gain, before tax | 49,336 | 18,210 |
Available-for-sale debt securities, accumulated gross unrealized loss, before tax | 702 | 2,221 |
Available-for-sale Securities | 1,178,789 | 810,106 |
U.S. Government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, amortized cost | 0 | 500 |
Available-for-sale debt securities, accumulated gross unrealized gain, before tax | 0 | 2 |
Available-for-sale debt securities, accumulated gross unrealized loss, before tax | 0 | 0 |
Available-for-sale Securities | 0 | 502 |
Obligations of states and political subdivisions | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, amortized cost | 266,483 | 112,393 |
Available-for-sale debt securities, accumulated gross unrealized gain, before tax | 11,467 | 4,800 |
Available-for-sale debt securities, accumulated gross unrealized loss, before tax | 139 | 6 |
Available-for-sale Securities | 277,811 | 117,187 |
U.S. Government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, amortized cost | 815,682 | 631,637 |
Available-for-sale debt securities, accumulated gross unrealized gain, before tax | 34,807 | 12,292 |
Available-for-sale debt securities, accumulated gross unrealized loss, before tax | 105 | 1,825 |
Available-for-sale Securities | 850,384 | 642,104 |
Private label | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, amortized cost | 9,976 | 10,896 |
Available-for-sale debt securities, accumulated gross unrealized gain, before tax | 916 | 589 |
Available-for-sale debt securities, accumulated gross unrealized loss, before tax | 0 | 0 |
Available-for-sale Securities | 10,892 | 11,485 |
Trust preferred securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, amortized cost | 4,557 | 4,781 |
Available-for-sale debt securities, accumulated gross unrealized gain, before tax | 0 | 27 |
Available-for-sale debt securities, accumulated gross unrealized loss, before tax | 457 | 347 |
Available-for-sale Securities | 4,100 | 4,461 |
Corporate securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, amortized cost | 31,465 | 31,669 |
Available-for-sale debt securities, accumulated gross unrealized gain, before tax | 2,146 | 500 |
Available-for-sale debt securities, accumulated gross unrealized loss, before tax | 1 | 43 |
Available-for-sale Securities | 33,610 | 32,126 |
Debt Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, amortized cost | 1,128,163 | 791,876 |
Available-for-sale debt securities, accumulated gross unrealized gain, before tax | 49,336 | 18,210 |
Available-for-sale debt securities, accumulated gross unrealized loss, before tax | 702 | 2,221 |
Available-for-sale Securities | 1,176,797 | 807,865 |
Certificates of Deposit | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, amortized cost | 1,992 | 2,241 |
Available-for-sale debt securities, accumulated gross unrealized gain, before tax | 0 | 0 |
Available-for-sale debt securities, accumulated gross unrealized loss, before tax | 0 | 0 |
Available-for-sale Securities | $ 1,992 | $ 2,241 |
Investments (Aggregate Carryi_2
Investments (Aggregate Carrying And Approximate Market Values Of Held-To-Maturity Securities) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity, Amortized Cost | $ 0 | $ 49,036 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 1,562 | |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | |
Securities held-to-maturity, Estimated Fair Value | 50,598 | |
US Government Agencies Debt Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity, Amortized Cost | 49,036 | |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 1,562 | |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | |
Securities held-to-maturity, Estimated Fair Value | $ 50,598 |
Investments (Gross Unrealized L
Investments (Gross Unrealized Losses And Fair Value Of Investments) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of Investments [Line Items] | ||
Securities available-for-sale, Less Than Twelve Months, Estimated Fair Value | $ 73,478 | $ 138,967 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 245 | 1,637 |
Securities available-for-sale, Twelve Months or Greater, Estimated Fair Value | 4,135 | 36,185 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 457 | 584 |
Securities available-for-sale, Total, Estimated Fair Value | 77,613 | 175,152 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 702 | 2,221 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 0 | |
Obligations of states and political subdivisions | ||
Schedule of Investments [Line Items] | ||
Securities available-for-sale, Less Than Twelve Months, Estimated Fair Value | 10,578 | 230 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 139 | 0 |
Securities available-for-sale, Twelve Months or Greater, Estimated Fair Value | 0 | 1,439 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 6 |
Securities available-for-sale, Total, Estimated Fair Value | 10,578 | 1,669 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 139 | 6 |
U.S. Government agencies | ||
Schedule of Investments [Line Items] | ||
Securities available-for-sale, Less Than Twelve Months, Estimated Fair Value | 62,412 | 123,289 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 105 | 1,247 |
Securities available-for-sale, Twelve Months or Greater, Estimated Fair Value | 35 | 34,746 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 578 |
Securities available-for-sale, Total, Estimated Fair Value | 62,447 | 158,035 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 105 | 1,825 |
Trust preferred securities | ||
Schedule of Investments [Line Items] | ||
Securities available-for-sale, Less Than Twelve Months, Estimated Fair Value | 0 | 4,200 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 347 |
Securities available-for-sale, Twelve Months or Greater, Estimated Fair Value | 4,100 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 457 | 0 |
Securities available-for-sale, Total, Estimated Fair Value | 4,100 | 4,200 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 457 | 347 |
Corporate securities | ||
Schedule of Investments [Line Items] | ||
Securities available-for-sale, Less Than Twelve Months, Estimated Fair Value | 488 | 11,248 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | 43 |
Securities available-for-sale, Twelve Months or Greater, Estimated Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Securities available-for-sale, Total, Estimated Fair Value | 488 | 11,248 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 1 | $ 43 |
Investments (Amortized Cost And
Investments (Amortized Cost And Estimated Fair Value Of Debt Securities By Contractual Maturity) (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Investments [Abstract] | |
Securities Available-for-Sale, Due in one year or less, Cost | $ 5,211 |
Securities Available-for-Sale, Due after one year through five years, Cost | 32,776 |
Securities Available-for-Sale, Due after five years through ten years, Cost | 276,898 |
Securities Available-for-Sale, Due after ten years, Cost | 813,278 |
Securities Available-for-Sale, Cost, Total | 1,128,163 |
Securities Available-for-Sale, Due in one year or less, Estimated Fair Value | 5,307 |
Securities Available-for-Sale, Due after one year through five years, Estimated Fair Value | 34,499 |
Securities Available-for-Sale, Due after five years through ten years, Estimated Fair Value | 293,388 |
Securities Available-for-Sale, Due after ten years, Estimated Fair Value | 843,603 |
Securities Available-for-Sale, Estimated Fair Value, Total | $ 1,176,797 |
Investments (Gross Gains And Lo
Investments (Gross Gains And Losses Realized) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Investments [Abstract] | |||
Gross unrealized gains recognized on equity securities still held | $ 223 | $ 888 | $ 208 |
Gross unrealized losses recognized on equity securities still held | (1,086) | 0 | (298) |
Net unrealized (losses) gains recognized on equity securities still held | (863) | 888 | (90) |
Gross realized gains | 139 | 226 | 0 |
Gross realized losses | (77) | (157) | 0 |
Net realized investment security gains | $ 62 | $ 69 | $ 0 |
Loans (Details)
Loans (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($)contract | Dec. 31, 2019USD ($) | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | $ 3,622,119 | $ 3,616,099 |
Commercial Loan [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 372,989 | $ 308,015 |
Commercial Loan [Member] | Small Business Administration Paycheck Protection Program [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | $ 90,000 | |
Financing Receivable Number of Contracts | contract | 1,500 | |
Small Business Administration Paycheck Protection Program Forgiveness Proceeds | $ 30,000 |
Loans (Summary Of Major Classif
Loans (Summary Of Major Classifications For Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | $ 3,622,119 | $ 3,616,099 |
Allowance for credit losses | (24,549) | (11,589) |
Net Loans | 3,597,570 | 3,604,510 |
Commercial Loan [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 372,989 | 308,015 |
Commercial Real Estate 1-4 Family | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 109,812 | |
Commercial Real Estate Hotels | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 294,464 | |
Commercial Real Estate Multi-Family | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 215,671 | |
Commercial Real Estate Non Residential Non-Owner Occupied | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 641,351 | |
Commercial Real Estate Non Residential Owner Occupied | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 213,484 | |
Commercial Real Estate [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 1,474,782 | 1,459,737 |
Construction Loan | 40,449 | 64,049 |
Residential Real Estate [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 1,587,694 | 1,640,396 |
Construction Loan | 27,078 | 29,033 |
Home Equity Line of Credit [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 136,469 | 148,928 |
Consumer Loan [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | 47,688 | 54,263 |
Demand Deposit Account Overdrafts [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Gross | $ 2,497 | $ 4,760 |
Allowance For Loan Losses (Narr
Allowance For Loan Losses (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2020USD ($)contract | Dec. 31, 2019USD ($)contract | Dec. 31, 2018USD ($) | |
Receivables [Abstract] | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 200,000 | $ 200,000 | $ 200,000 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | 3,000,000 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 0 | ||
Loan Review Selection Threshold ($) | 1,000,000 | 1,000,000 | 1,000,000 |
Impaired Financing Receivable, Interest Income, Accrual Method | 100,000 | 100,000 | 100,000 |
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loan Review Selection Threshold ($) | 1,000,000 | 1,000,000 | 1,000,000 |
Impaired Financing Receivable, Interest Income Foregone | 200,000 | 200,000 | |
Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | 1,600,000 | 800,000 | |
Financing Receivable, Troubled Debt Restructurings, Provision for Credit Losses | 100,000 | 100,000 | 100,000 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 200,000 | $ 200,000 | 200,000 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | contract | 0 | 1 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 3,000,000 | ||
Total Troubled Debt Restructurings | $ 26,142,000 | 29,630,000 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Charge-Off | 700,000 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 100,000 | $ 100,000 | $ 100,000 |
Payment Deferral [Member] | COVID-19 [Member] | Consumer Borrower [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loan Restructuring, Trial Modifications, Amount | 135,000,000 | ||
Loan Restructuring, Trial Modifications, Period End Amount | 9,000,000 | ||
Loan Restructuring, Trial Modifications, Resumed Payment, Amount | 126,000,000 | ||
Total Troubled Debt Restructurings | 4,000,000 | ||
Payment Deferral [Member] | COVID-19 [Member] | Commercial Borrower [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loan Restructuring, Trial Modifications, Amount | 455,000,000 | ||
Loan Restructuring, Trial Modifications, Period End Amount | 99,000,000 | ||
Loan Restructuring, Trial Modifications, Resumed Payment, Amount | 356,000,000 | ||
Payment Deferral [Member] | COVID-19 [Member] | Commercial Real Estate Hotels | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loan Restructuring, Trial Modifications, Period End Amount | $ 88,000,000 |
Allowance For Loan Losses (Sche
Allowance For Loan Losses (Schedule Of Allowance For Loan Loss By Portfolio Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | $ 11,589 | $ 15,966 | $ 11,589 | $ 15,966 | $ 18,836 | ||||||
Charge-offs | (6,163) | (6,654) | (5,473) | ||||||||
Recoveries | 2,641 | 3,527 | 4,913 | ||||||||
Financing Receivable, Credit Loss, Expense (Reversal) | $ 474 | $ 1,026 | $ 1,250 | 7,972 | $ (75) | $ 274 | $ (600) | (849) | 10,722 | (1,250) | (2,310) |
Ending balance | 24,549 | 11,589 | 24,549 | 11,589 | 15,966 | ||||||
Cumulative Effect, Period of Adoption, Adjustment | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 5,760 | 5,760 | |||||||||
Ending balance | 5,760 | 5,760 | |||||||||
Commercial Loan [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 2,059 | 4,060 | 2,059 | 4,060 | 4,571 | ||||||
Charge-offs | (843) | (261) | (733) | ||||||||
Recoveries | 91 | 764 | 2,152 | ||||||||
Financing Receivable, Credit Loss, Expense (Reversal) | 622 | (2,504) | (1,930) | ||||||||
Ending balance | 3,644 | 2,059 | 3,644 | 2,059 | 4,060 | ||||||
Commercial Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 1,715 | 1,715 | |||||||||
Ending balance | 1,715 | 1,715 | |||||||||
Commercial Real Estate [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 2,606 | 4,495 | 2,606 | 4,495 | 6,183 | ||||||
Charge-offs | (1,113) | (1,358) | (369) | ||||||||
Recoveries | 525 | 624 | 732 | ||||||||
Financing Receivable, Credit Loss, Expense (Reversal) | 5,725 | (1,155) | (2,051) | ||||||||
Ending balance | 10,997 | 2,606 | 10,997 | 2,606 | 4,495 | ||||||
Commercial Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjustment | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 3,254 | 3,254 | |||||||||
Ending balance | 3,254 | 3,254 | |||||||||
Residential Real Estate [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 3,448 | 4,116 | 3,448 | 4,116 | 5,212 | ||||||
Charge-offs | (1,250) | (787) | (682) | ||||||||
Recoveries | 184 | 369 | 367 | ||||||||
Financing Receivable, Credit Loss, Expense (Reversal) | 3,572 | (250) | (781) | ||||||||
Ending balance | 8,093 | 3,448 | 8,093 | 3,448 | 4,116 | ||||||
Residential Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjustment | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 2,139 | 2,139 | |||||||||
Ending balance | 2,139 | 2,139 | |||||||||
Home Equity Line of Credit [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 1,187 | 1,268 | 1,187 | 1,268 | 1,138 | ||||||
Charge-offs | (420) | (294) | (219) | ||||||||
Recoveries | 136 | 0 | 0 | ||||||||
Financing Receivable, Credit Loss, Expense (Reversal) | 325 | 213 | 349 | ||||||||
Ending balance | 630 | 1,187 | 630 | 1,187 | 1,268 | ||||||
Home Equity Line of Credit [Member] | Cumulative Effect, Period of Adoption, Adjustment | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | (598) | (598) | |||||||||
Ending balance | (598) | (598) | |||||||||
Consumer Loan | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 975 | 319 | 975 | 319 | 62 | ||||||
Charge-offs | (192) | (1,177) | (769) | ||||||||
Recoveries | 238 | 265 | 166 | ||||||||
Financing Receivable, Credit Loss, Expense (Reversal) | (48) | 1,568 | 860 | ||||||||
Ending balance | 163 | 975 | 163 | 975 | 319 | ||||||
Consumer Loan | Cumulative Effect, Period of Adoption, Adjustment | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | (810) | (810) | |||||||||
Ending balance | (810) | (810) | |||||||||
DDA Overdrafts | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | 1,314 | $ 1,708 | 1,314 | 1,708 | 1,670 | ||||||
Charge-offs | (2,345) | (2,777) | (2,701) | ||||||||
Recoveries | 1,467 | 1,505 | 1,496 | ||||||||
Financing Receivable, Credit Loss, Expense (Reversal) | 526 | 878 | 1,243 | ||||||||
Ending balance | $ 1,022 | 1,314 | 1,022 | 1,314 | $ 1,708 | ||||||
DDA Overdrafts | Cumulative Effect, Period of Adoption, Adjustment | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Beginning balance | $ 60 | $ 60 | |||||||||
Ending balance | $ 60 | $ 60 |
Allowance For Loan Losses (Sc_2
Allowance For Loan Losses (Schedule of Nonaccrual Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | $ 2,490 | |
Non-accrual | 9,742 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | $ 267 |
Commercial Loan [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 172 | |
Non-accrual | 596 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | 184 |
Commercial Real Estate 1-4 Family | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | |
Non-accrual | 2,056 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | |
Commercial Real Estate Hotels | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | |
Non-accrual | 2,951 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | |
Commercial Real Estate Multi-Family | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | |
Non-accrual | 0 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | |
Commercial Real Estate Non Residential Non-Owner Occupied | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | |
Non-accrual | 508 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | |
Commercial Real Estate Non Residential Owner Occupied | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 2,297 | |
Non-accrual | 589 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 2,297 | |
Non-accrual | 6,104 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | 0 |
Residential Real Estate [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 21 | |
Non-accrual | 2,947 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | 83 |
Home Equity Loan | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | |
Non-accrual | 95 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | 0 |
Consumer Loan | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | |
Non-accrual | 0 | |
Financing Receivable, 90 Days or More Past Due, Still Accruing | $ 0 | $ 0 |
Allowance For Loan Losses (Sc_3
Allowance For Loan Losses (Schedule Of Aging Analysis Of Accruing And Non-Accruing Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | $ 8,887 | $ 11,396 |
Current | 3,601,000 | 3,593,213 |
Non-accrual | 12,232 | 11,490 |
Commercial Loan [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,240 | 458 |
Current | 370,981 | 306,375 |
Non-accrual | 768 | 1,182 |
Commercial Real Estate 1-4 Family | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 484 | |
Current | 107,272 | |
Non-accrual | 2,056 | |
Commercial Real Estate Hotels | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Current | 291,513 | |
Non-accrual | 2,951 | |
Commercial Real Estate Multi-Family | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Current | 215,671 | |
Non-accrual | 0 | |
Commercial Real Estate Non Residential Non-Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 119 | |
Current | 640,724 | |
Non-accrual | 508 | |
Commercial Real Estate Non Residential Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 22 | |
Current | 210,576 | |
Non-accrual | 2,886 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 625 | 1,580 |
Current | 1,465,756 | 1,451,773 |
Non-accrual | 8,401 | 6,384 |
Residential Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 5,993 | 7,484 |
Current | 1,578,733 | 1,629,519 |
Non-accrual | 2,968 | 3,393 |
Home Equity Loan | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 575 | 956 |
Current | 135,799 | 147,441 |
Non-accrual | 95 | 531 |
Consumer Loan | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 113 | 188 |
Current | 47,575 | 54,075 |
Non-accrual | 0 | 0 |
DDA Overdrafts | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 341 | 730 |
Current | 2,156 | 4,030 |
Non-accrual | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 7,987 | 9,155 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,213 | 243 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate 1-4 Family | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 484 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Hotels | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Multi-Family | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Non Residential Non-Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 119 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Non Residential Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 22 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 625 | 1,514 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 5,177 | 5,758 |
Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity Loan | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 575 | 840 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Loan | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 63 | 156 |
Financial Asset, 30 to 59 Days Past Due [Member] | DDA Overdrafts | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 334 | 644 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 900 | 1,974 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 27 | 31 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate 1-4 Family | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Hotels | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Multi-Family | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Non Residential Non-Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Non Residential Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 66 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 816 | 1,643 |
Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity Loan | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 116 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Loan | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 50 | 32 |
Financial Asset, 60 to 89 Days Past Due [Member] | DDA Overdrafts | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 7 | 86 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 267 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 184 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate 1-4 Family | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Hotels | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Multi-Family | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Non Residential Non-Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Non Residential Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 83 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity Loan | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Loan | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | DDA Overdrafts | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, Past Due | $ 0 | $ 0 |
Allowance For Loan Losses (Sc_4
Allowance For Loan Losses (Schedule Of Impaired Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Impaired [Line Items] | ||
With no related allowance recorded, Recorded investment | $ 4,047 | |
With no related allowance recorded, Unpaid principal balance | 4,073 | |
With an allowance recorded, Recorded investment | 2,644 | |
With an allowance recorded, Unpaid principal balance | 2,644 | |
With an allowance recorded, Related allowance | 87 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Collateral Dependent | $ 5,306 | |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With no related allowance recorded, Recorded investment | 501 | |
With no related allowance recorded, Unpaid principal balance | 501 | |
With an allowance recorded, Recorded investment | 0 | |
With an allowance recorded, Unpaid principal balance | 0 | |
With an allowance recorded, Related allowance | 0 | |
Commercial Loan [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Collateral Dependent | 173 | |
Commercial Loan [Member] | Equipment | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Collateral Dependent | 0 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With no related allowance recorded, Recorded investment | 3,546 | |
With no related allowance recorded, Unpaid principal balance | 3,572 | |
With an allowance recorded, Recorded investment | 2,644 | |
With an allowance recorded, Unpaid principal balance | 2,644 | |
With an allowance recorded, Related allowance | $ 87 | |
Commercial Real Estate [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Collateral Dependent | 5,133 | |
Commercial Real Estate 1-4 Family | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Collateral Dependent | 0 | |
Commercial Real Estate Hotels | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Collateral Dependent | 2,837 | |
Commercial Real Estate Multi-Family | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Collateral Dependent | 0 | |
Commercial Real Estate Non Residential Non-Owner Occupied | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Collateral Dependent | 0 | |
Commercial Real Estate Non Residential Owner Occupied | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Collateral Dependent | $ 2,296 |
Allowance For Loan Losses (Sc_5
Allowance For Loan Losses (Schedule Of Information Related To Average Recorded Investment And Interest Income Recognized On Impaired Loans) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
With no related allowance recorded, Average recorded investment | $ 4,966 | $ 5,468 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 41 | 39 |
With an allowance recorded, Average recorded investment | 4,261 | 5,043 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 162 | 220 |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With no related allowance recorded, Average recorded investment | 578 | 845 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 |
With an allowance recorded, Average recorded investment | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With no related allowance recorded, Average recorded investment | 4,388 | 4,623 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 41 | 39 |
With an allowance recorded, Average recorded investment | 4,261 | 5,043 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | $ 162 | $ 220 |
Allowance For Loan Losses (Sc_6
Allowance For Loan Losses (Schedule Of Troubled Debt Restructurings) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($)contract | Dec. 31, 2019USD ($)contract | Dec. 31, 2018USD ($)contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 26,142 | $ 29,630 | |
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 32 | 41 | 43,000 |
Pre-modification Outstanding Recorded Investment | $ 2,818 | $ 3,498 | $ 2,600 |
Post-modification Outstanding Recorded Investment | 2,814 | 3,498 | $ 2,600 |
Commercial and industrial | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 0 | $ 0 | |
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-modification Outstanding Recorded Investment | 0 | 0 | $ 0 |
Commercial Real Estate 1-4 Family | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 121 | ||
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 0 | ||
Pre-modification Outstanding Recorded Investment | $ 0 | ||
Post-modification Outstanding Recorded Investment | 0 | ||
Commercial Real Estate Hotels | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 2,634 | ||
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 0 | ||
Pre-modification Outstanding Recorded Investment | $ 0 | ||
Post-modification Outstanding Recorded Investment | 0 | ||
Commercial Real Estate Multi-Family | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 1,883 | ||
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 0 | ||
Pre-modification Outstanding Recorded Investment | $ 0 | ||
Post-modification Outstanding Recorded Investment | 0 | ||
Commercial Real Estate Non Residential Non-Owner Occupied | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 0 | ||
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 0 | ||
Pre-modification Outstanding Recorded Investment | $ 0 | ||
Post-modification Outstanding Recorded Investment | 0 | ||
Commercial Real Estate Non Residential Owner Occupied | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 0 | ||
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 0 | ||
Pre-modification Outstanding Recorded Investment | $ 0 | ||
Post-modification Outstanding Recorded Investment | 0 | ||
Commercial real estate | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 4,638 | $ 4,973 | |
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-modification Outstanding Recorded Investment | 0 | 0 | $ 0 |
Residential real estate | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 19,226 | $ 21,029 | |
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 29 | 31 | 33,000 |
Pre-modification Outstanding Recorded Investment | $ 2,724 | $ 2,531 | $ 2,326 |
Post-modification Outstanding Recorded Investment | 2,720 | 2,531 | $ 2,326 |
Home equity | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 2,001 | $ 3,628 | |
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 3 | 10 | 10,000 |
Pre-modification Outstanding Recorded Investment | $ 94 | $ 967 | $ 274 |
Post-modification Outstanding Recorded Investment | 94 | 967 | $ 274 |
Consumer | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Total Troubled Debt Restructurings | $ 277 | $ 0 | |
Troubled Debt Restructuring Modifications Number Of Contracts | contract | 0 | 0 | 0 |
Pre-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post-modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Allowance For Loan Losses (Sc_7
Allowance For Loan Losses (Schedule Of Credit Quality Indicators) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | $ 3,622,119 | $ 3,616,099 |
Commercial Industrial Loans And Commercial Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,767,752 | |
Commercial Loan [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 372,989 | 308,015 |
Financing Receivable, Year One, Originated, Current Fiscal Year | 124,775 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 53,552 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 60,083 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 31,076 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 16,941 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 9,108 | |
Financing Receivable, Revolving | 77,454 | |
Financing Receivable, before Allowance for Credit Loss | 372,989 | 308,015 |
Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 1,474,782 | 1,459,737 |
Financing Receivable, Year One, Originated, Current Fiscal Year | 313,964 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 324,388 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 182,089 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 156,539 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 157,505 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 314,415 | |
Financing Receivable, Revolving | 25,882 | |
Financing Receivable, before Allowance for Credit Loss | 1,474,782 | 1,459,737 |
Residential Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 1,587,694 | 1,640,396 |
Financing Receivable, Year One, Originated, Current Fiscal Year | 407,135 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 233,709 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 176,523 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 134,589 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 102,869 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 417,657 | |
Financing Receivable, Revolving | 115,212 | |
Financing Receivable, before Allowance for Credit Loss | 1,587,694 | 1,640,396 |
Residential Real Estate [Member] | Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 407,135 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 233,709 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 176,523 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 134,425 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 102,828 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 416,473 | |
Financing Receivable, Revolving | 113,633 | |
Financing Receivable, before Allowance for Credit Loss | 1,584,726 | |
Residential Real Estate [Member] | Non-Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 164 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 41 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,184 | |
Financing Receivable, Revolving | 1,579 | |
Financing Receivable, before Allowance for Credit Loss | 2,968 | |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 136,469 | 148,928 |
Financing Receivable, before Allowance for Credit Loss | 148,928 | |
Consumer Loan | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 47,688 | 54,263 |
Financing Receivable, Year One, Originated, Current Fiscal Year | 15,342 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 14,977 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 9,229 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 3,154 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,688 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,422 | |
Financing Receivable, Revolving | 1,876 | |
Financing Receivable, before Allowance for Credit Loss | 47,688 | 54,263 |
Consumer Loan | Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 15,342 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 14,977 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 9,229 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 3,154 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,688 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,422 | |
Financing Receivable, Revolving | 1,876 | |
Financing Receivable, before Allowance for Credit Loss | 47,688 | |
Consumer Loan | Non-Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 0 | |
DDA Overdrafts | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 2,497 | 4,760 |
Financing Receivable, before Allowance for Credit Loss | 4,760 | |
Commercial Real Estate 1-4 Family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 109,812 | |
Financing Receivable, Year One, Originated, Current Fiscal Year | 20,281 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 17,883 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 8,217 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 8,307 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 6,419 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 38,431 | |
Financing Receivable, Revolving | 10,274 | |
Financing Receivable, before Allowance for Credit Loss | 109,812 | |
Commercial Real Estate Multi-Family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 215,671 | |
Financing Receivable, Year One, Originated, Current Fiscal Year | 81,127 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 58,254 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 3,239 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 20,730 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 23,873 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 27,085 | |
Financing Receivable, Revolving | 1,363 | |
Financing Receivable, before Allowance for Credit Loss | 215,671 | |
Commercial Real Estate Non Residential Non-Owner Occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 641,351 | |
Financing Receivable, Year One, Originated, Current Fiscal Year | 156,533 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 102,900 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 117,275 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 51,418 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 77,406 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 126,834 | |
Financing Receivable, Revolving | 8,985 | |
Financing Receivable, before Allowance for Credit Loss | 641,351 | |
Commercial Real Estate Non Residential Owner Occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 213,484 | |
Financing Receivable, Year One, Originated, Current Fiscal Year | 31,794 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 34,670 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 27,152 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 26,741 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 23,852 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 64,015 | |
Financing Receivable, Revolving | 5,260 | |
Financing Receivable, before Allowance for Credit Loss | 213,484 | |
Commercial Real Estate Hotels | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 294,464 | |
Financing Receivable, Year One, Originated, Current Fiscal Year | 24,229 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 110,681 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 26,206 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 49,343 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 25,955 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 58,050 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 294,464 | |
Home Equity Loan | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 136,469 | 148,928 |
Financing Receivable, Year One, Originated, Current Fiscal Year | 9,038 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 6,241 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 5,375 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 2,126 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,309 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 11,573 | |
Financing Receivable, Revolving | 100,807 | |
Financing Receivable, before Allowance for Credit Loss | 136,469 | |
Home Equity Loan | Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 9,038 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 6,241 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 5,375 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 2,126 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,309 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 11,573 | |
Financing Receivable, Revolving | 100,712 | |
Financing Receivable, before Allowance for Credit Loss | 136,374 | |
Home Equity Loan | Non-Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 95 | |
Financing Receivable, before Allowance for Credit Loss | 95 | |
Pass | Commercial Industrial Loans And Commercial Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,685,491 | |
Pass | Commercial Loan [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 123,920 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 51,972 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 59,152 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 30,440 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 16,673 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 6,942 | |
Financing Receivable, Revolving | 75,018 | |
Financing Receivable, before Allowance for Credit Loss | 364,117 | 276,847 |
Pass | Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 312,363 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 296,876 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 179,038 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 142,678 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 147,772 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 280,107 | |
Financing Receivable, Revolving | 25,560 | |
Financing Receivable, before Allowance for Credit Loss | 1,384,394 | 1,408,644 |
Pass | Commercial Real Estate 1-4 Family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 19,970 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 17,540 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 8,217 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 7,444 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 6,158 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 33,075 | |
Financing Receivable, Revolving | 10,274 | |
Financing Receivable, before Allowance for Credit Loss | 102,678 | |
Pass | Commercial Real Estate Multi-Family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 81,127 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 56,371 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 2,688 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 20,730 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 23,873 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 27,009 | |
Financing Receivable, Revolving | 1,363 | |
Financing Receivable, before Allowance for Credit Loss | 213,161 | |
Pass | Commercial Real Estate Non Residential Non-Owner Occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 155,937 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 101,011 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 115,524 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 51,329 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 76,219 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 125,349 | |
Financing Receivable, Revolving | 8,825 | |
Financing Receivable, before Allowance for Credit Loss | 634,194 | |
Pass | Commercial Real Estate Non Residential Owner Occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 31,443 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 26,685 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 26,403 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 20,582 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 20,032 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 50,988 | |
Financing Receivable, Revolving | 5,098 | |
Financing Receivable, before Allowance for Credit Loss | 181,231 | |
Pass | Commercial Real Estate Hotels | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 23,886 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 95,269 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 26,206 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 42,593 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 21,490 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 43,686 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 253,130 | |
Special Mention | Commercial Industrial Loans And Commercial Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 16,310 | |
Special Mention | Commercial Loan [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 72 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 27 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 13 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 47 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 433 | |
Financing Receivable, Revolving | 508 | |
Financing Receivable, before Allowance for Credit Loss | 1,100 | 2,472 |
Special Mention | Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 442 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 5,288 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,196 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 127 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 159 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 3,370 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 10,582 | 13,838 |
Special Mention | Commercial Real Estate 1-4 Family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 192 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 159 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 753 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 1,104 | |
Special Mention | Commercial Real Estate Multi-Family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,883 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 551 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 2,434 | |
Special Mention | Commercial Real Estate Non Residential Non-Owner Occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 16 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 504 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 592 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 37 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 147 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 1,296 | |
Special Mention | Commercial Real Estate Non Residential Owner Occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 234 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 2,901 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 53 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 90 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 2,470 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 5,748 | |
Substandard | Commercial Industrial Loans And Commercial Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 65,951 | |
Substandard | Commercial Loan [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 783 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,553 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 918 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 589 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 268 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,733 | |
Financing Receivable, Revolving | 1,928 | |
Financing Receivable, before Allowance for Credit Loss | 7,772 | 28,696 |
Substandard | Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,159 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 22,224 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,855 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 13,734 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 9,574 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 30,938 | |
Financing Receivable, Revolving | 322 | |
Financing Receivable, before Allowance for Credit Loss | 79,806 | 37,255 |
Substandard | Commercial Real Estate 1-4 Family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 119 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 343 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 863 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 102 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,603 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 6,030 | |
Substandard | Commercial Real Estate Multi-Family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 76 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | 76 | |
Substandard | Commercial Real Estate Non Residential Non-Owner Occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 580 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,385 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,159 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 52 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,187 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,338 | |
Financing Receivable, Revolving | 160 | |
Financing Receivable, before Allowance for Credit Loss | 5,861 | |
Substandard | Commercial Real Estate Non Residential Owner Occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 117 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 5,084 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 696 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 6,069 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 3,820 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 10,557 | |
Financing Receivable, Revolving | 162 | |
Financing Receivable, before Allowance for Credit Loss | 26,505 | |
Substandard | Commercial Real Estate Hotels | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 343 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 15,412 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 6,750 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 4,465 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 14,364 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, before Allowance for Credit Loss | $ 41,334 | |
Doubtful | Commercial Industrial Loans And Commercial Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Doubtful | Commercial Loan [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Doubtful | Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 0 |
Allowance For Loan Losses (Sc_8
Allowance For Loan Losses (Schedule of Non-Commercial Loans By Payment Performance) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | $ 3,622,119 | $ 3,616,099 |
Residential Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 1,587,694 | 1,640,396 |
Financing Receivable, before Allowance for Credit Loss | 1,587,694 | 1,640,396 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 136,469 | 148,928 |
Financing Receivable, before Allowance for Credit Loss | 148,928 | |
Consumer Loan | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | 47,688 | 54,263 |
Financing Receivable, before Allowance for Credit Loss | 47,688 | 54,263 |
DDA Overdrafts | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, Total | $ 2,497 | 4,760 |
Financing Receivable, before Allowance for Credit Loss | 4,760 | |
Non-commercial Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,848,347 | |
Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,844,340 | |
Performing | Residential Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,636,920 | |
Performing | Home Equity Line of Credit [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 148,397 | |
Performing | Consumer Loan | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 54,263 | |
Performing | DDA Overdrafts | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,760 | |
Non-Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,007 | |
Non-Performing | Residential Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,476 | |
Non-Performing | Home Equity Line of Credit [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 531 | |
Non-Performing | Consumer Loan | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Non-Performing | DDA Overdrafts | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 0 |
Premises And Equipment (Details
Premises And Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 177,583 | $ 172,982 | |
Less: accumulated depreciation | (100,658) | (96,017) | |
Property, Plant and Equipment, Net, Total | 76,925 | 76,965 | |
Depreciation | 5,790 | 5,003 | $ 5,087 |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 34,185 | 34,185 | |
Buildings and improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 97,091 | 95,662 | |
Buildings and improvements | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Life | 30 years | ||
Buildings and improvements | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Life | 10 years | ||
Equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 46,307 | $ 43,135 | |
Equipment | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Life | 7 years | ||
Equipment | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Life | 3 years |
Goodwill And Other Intangible_3
Goodwill And Other Intangible Assets (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Finite-Lived Intangible Assets [Line Items] | |
Goodwill, Impairment Loss | $ 0 |
Core Deposits | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset, useful life | 10 years |
Goodwill And Other Intangible_4
Goodwill And Other Intangible Assets Goodwill and Other Intangible Assets (Rollforward of Goodwill) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill [Roll Forward] | ||
Beginning balance | $ 108,941 | $ 109,567 |
Ending balance | 108,941 | 108,941 |
Poage Bankshares, Inc. [Member] | ||
Business Acquisition [Line Items] | ||
Goodwill, Purchase Accounting Adjustments | 0 | (583) |
Farmers Deposit Bancorp, Inc. [Member] | ||
Business Acquisition [Line Items] | ||
Goodwill, Purchase Accounting Adjustments | $ 0 | $ (43) |
Goodwill And Other Intangible_5
Goodwill And Other Intangible Assets (Summary Of Core Deposit Intangibles) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | ||||
Gross carrying amount | $ 21,190 | $ 21,190 | ||
Accumulated amortization | (11,539) | (9,890) | ||
Total | $ 11,300 | $ 13,281 | $ 9,651 | $ 11,300 |
Finite-lived Intangible Assets [Roll Forward] | ||||
Beginning balance | 11,300 | 13,281 | ||
Amortization expense | (1,649) | (1,981) | ||
Ending balance | $ 9,651 | $ 11,300 |
Goodwill And Other Intangible_6
Goodwill And Other Intangible Assets (Schedule Of Estimated Future Amortization Expense For Core Deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
2021 | $ 1,472 | ||
2022 | 1,386 | ||
2023 | 1,220 | ||
2024 | 1,209 | ||
2025 | 1,185 | ||
Thereafter | 3,179 | ||
Total | $ 9,651 | $ 11,300 | $ 13,281 |
Scheduled Maturities Of Time _3
Scheduled Maturities Of Time Deposits (Scheduled Maturities Of Time Deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Maturities of Time Deposits [Abstract] | ||
2021 | $ 931,862 | |
2022 | 201,922 | |
2023 | 87,440 | |
2024 | 22,252 | |
2025 | 16,097 | |
Over five years | 449 | |
Time Deposits, Total | $ 1,260,022 | $ 1,364,571 |
Scheduled Maturities Of Time _4
Scheduled Maturities Of Time Deposits (Scheduled Maturities Time Deposits Of $250,000 Or More) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Time Deposits, at or Above FDIC Insurance Limit | $ 171.3 | $ 184.4 |
Short-Term Debt (Narrative) (De
Short-Term Debt (Narrative) (Details) - USD ($) $ in Billions | Dec. 31, 2020 | Dec. 31, 2019 |
Investment Securities And One To Four Family Residential Property Loans | ||
Short-term Debt [Line Items] | ||
Collateral pledged to the FHLB | $ 2.2 | $ 2.3 |
City National | ||
Short-term Debt [Line Items] | ||
FHLB stock purchased during year | 37,000 | |
Unused and available FHLB funds | $ 2 | $ 1.9 |
Short-Term Debt (Summary Of Sho
Short-Term Debt (Summary Of Short-Term Borrowings) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Short-term Debt [Abstract] | |||
Advances from Federal Home Loan Banks | $ 0 | $ 0 | $ 40,000 |
Securities Sold under Agreements to Repurchase | 295,956 | 211,255 | 221,911 |
Federal Funds Purchased | 0 | 0 | 0 |
Federal Home Loan Bank advances (Avg Bal) | 151 | 10,752 | 74,102 |
Securities sold under agreements to repurchase (Avg Bal) | 253,289 | 200,697 | 190,702 |
Federal Funds purchased (Avg Bal) | 16 | 3 | 353 |
Federal Home Loan Bank advances (Max Outstanding) | 9,900 | 154,000 | 185,000 |
Securities sold under agreements to repurchase (Max Outstanding) | 295,956 | 226,603 | 221,911 |
Federal Funds Purchased Maximum Outstanding at Any Month End | $ 0 | $ 0 | $ 10,000 |
Federal Home Loan Bank advances (weighted average interest rate) | 0.85% | 2.72% | 2.21% |
Securities sold under agreements to repurchase (weighted average interest rate) | 0.39% | 1.59% | 0.93% |
Federal Funds purchased (weighted average interest rate) | 0.83% | 2.84% | 2.10% |
Federal Home Loan Bank advances (end of year interest rate) | 0.41% | 1.85% | 2.76% |
Securities sold under agreements to repurchase (end of year interest rate) | 0.34% | 1.51% | 0.80% |
Federal Funds Purchased Average Interest Rate at Period End | 0.00% | 0.00% | 0.00% |
Derivative Instruments Derivati
Derivative Instruments Derivative Instruments (Narrative) (Details) $ in Millions | Dec. 31, 2020USD ($) |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Collateral Already Posted, Aggregate Fair Value | $ 68.4 |
Derivative Instruments (Fair Va
Derivative Instruments (Fair Value Of Derivative Instruments) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Customer Counterparties Loan Interest Rate Swap Assets | Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 647,613 | $ 377,534 |
Fair Value | 52,364 | 16,094 |
Customer Counterparties Loan Interest Rate Swap Liabilities | Other Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 37,721 | 189,803 |
Fair Value | 562 | 3,214 |
Financial Institution Counterparties Loan Interest Rate Swap Asset | Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 37,721 | 189,803 |
Fair Value | 562 | 3,214 |
Financial Institution Counterparties Loan Interest Rate Swap Liabilities | Other Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 661,866 | 382,566 |
Fair Value | 52,607 | $ 16,133 |
Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 150,000 |
Derivative Instruments (Change
Derivative Instruments (Change In Fair Value Of Derivative Instruments) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative assets | Other Income | |||
Derivatives, Fair Value [Line Items] | |||
Change in Fair Value | $ 27,240 | $ 4,342 | $ 1,316 |
Derivative liabilities | Other Income | |||
Derivatives, Fair Value [Line Items] | |||
Change in Fair Value | (27,240) | (4,342) | (1,316) |
Derivative liabilities | Other Expense | |||
Derivatives, Fair Value [Line Items] | |||
Change in Fair Value | $ 206 | $ 165 | $ 50 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Examination [Line Items] | ||||
Deferred Tax Assets, Valuation Allowance | $ 0 | $ 0 | ||
Anticipated Reduction Resulting from Lapse of Applicable Statue of Limitations | 565,000 | 496,000 | ||
Income tax interest and penalties | 200,000 | 600,000 | $ 200,000 | |
Accrued income tax interest and penalties | $ 900,000 | $ 700,000 | ||
Forecast [Member] | ||||
Income Tax Examination [Line Items] | ||||
Anticipated Reduction Resulting from Lapse of Applicable Statue of Limitations | $ 600,000 |
Income Taxes (Summary Of Deferr
Income Taxes (Summary Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Income Tax Disclosure [Abstract] | ||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | $ 5,883 | $ 2,708 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | 3,165 | 2,912 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions | 1,784 | 1,912 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 2,218 | 1,196 |
Deferred Tax Assets, Other | 4,543 | 8,570 |
Total Deferred Tax Assets | 17,593 | 17,298 |
Deferred Tax Liabilities, Investments | 11,637 | 3,709 |
Deferred Tax Liabilities, Other | 9,158 | 6,920 |
Deferred Tax Liabilities, Gross | 20,795 | 10,629 |
Deferred Tax Liabilities, Net | $ 3,202 | |
Deferred tax asset, net | $ 6,669 |
Income Taxes (Summary Of Income
Income Taxes (Summary Of Income Tax Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||||||||||
Federal | $ 16,599 | $ 16,636 | $ 16,846 | ||||||||
State | 2,478 | 2,560 | 2,413 | ||||||||
Total current tax expense | 19,077 | 19,196 | 19,259 | ||||||||
Total deferred tax expense | 2,640 | 4,939 | (1,244) | ||||||||
Income tax expense | $ 4,565 | $ 5,098 | $ 4,732 | $ 7,322 | $ 6,319 | $ 6,193 | $ 5,813 | $ 5,810 | $ 21,717 | $ 24,135 | $ 18,015 |
Income Taxes (Reconciliation Of
Income Taxes (Reconciliation Of The Significant Differences Between The Federal Statutory Income Tax Rate And Effective Income Tax Rate) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||||||||||
Computed federal taxes at statutory rate | $ 23,376 | $ 23,832 | $ 18,483 | ||||||||
State income taxes, net of federal tax benefit | 2,070 | 2,376 | 1,730 | ||||||||
Tax effects of: | |||||||||||
Tax-exempt interest income | (944) | (733) | (694) | ||||||||
Bank-owned life insurance | (929) | (791) | (649) | ||||||||
Income tax credits | (1,113) | (889) | (575) | ||||||||
Other items, net | (743) | 340 | (280) | ||||||||
Income tax expense | $ 4,565 | $ 5,098 | $ 4,732 | $ 7,322 | $ 6,319 | $ 6,193 | $ 5,813 | $ 5,810 | $ 21,717 | $ 24,135 | $ 18,015 |
Income Taxes (Reconciliatoin Of
Income Taxes (Reconciliatoin Of The Unrecognized Tax Benefits Rollforward) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of the beginning and ending balance of unrecognized tax benefits | ||
Beginning balance | $ 1,807 | $ 1,811 |
Additions for current year tax positions | 413 | 115 |
Additions for prior year tax positions | 434 | 377 |
Decreases related to lapse of applicable statute of limitation | (565) | (496) |
Ending balance | $ 2,089 | $ 1,807 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Incentive stock options and SARs exercisable period | 10 years | ||
Stock awards available to be awarded | 407,000 | ||
Contributions by employer | $ 450,000 | $ 0 | |
Supplemental Unemployment Benefits, Severance Benefits | $ 2,200,000 | $ 2,100,000 | |
Maximum | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Common stock issued upon the exercise of stock options, SARs and stock awards | 750,000 | ||
Equity Securities | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 75.00% | ||
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 80.00% | ||
Debt Securities | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 25.00% | ||
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 19.00% | ||
Cash and Cash Equivalents | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage | 1.00% | ||
Horizon Defined Benefit Plan | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Contributions by employer | $ 0 | ||
Anticipated next year plan contributions | $ 1,000,000 | ||
Community Defined Benefit Plan | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Contributions by employer | $ 1,500,000 |
Employee Benefit Plans (Summary
Employee Benefit Plans (Summary Of Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Options | ||||
Options Outstanding, beginning balance | 46,251 | 57,972 | 87,605 | |
Options, Granted | 0 | 0 | 0 | |
Options, Exercised | (4,921) | (11,721) | (29,633) | |
Options, Forfeited | 0 | 0 | 0 | |
Options Outstanding, ending balance | 41,330 | 46,251 | 57,972 | |
Weighted-Average Exercise Price | ||||
Weighted-Average Exercise Price, Outstanding, beginning balance | $ 52.74 | $ 51.15 | $ 47.15 | |
Weighted-Average Exercise Price, Granted | 0 | 0 | 0 | |
Weighted-Average Exercise Price, Exercised | 45.17 | 44.87 | 39.31 | |
Weighted-Average Exercise Price, Forfeited | 0 | 0 | 0 | |
Weighted-Average Exercise Price, Outstanding, ending balance | $ 53.64 | $ 52.74 | $ 51.15 | |
Options, Exercisable at end of year | 21,459 | 8,063 | 2,697 | |
Weighted-Average Exercise Price, Exercisable at end of year | $ 50.45 | $ 44.48 | $ 45.13 | |
Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares | 19,871 | 38,188 | 55,275 | 79,718 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 18,317 | 17,087 | 24,443 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares | 0 | 0 | 0 | |
Weighted-Average Exercise Price | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price | $ 56.97 | $ 54.42 | $ 51.40 | $ 48.08 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | 0 | 0 | 0 | |
Weighted-Average Exercise Price, Vested during the year | 51.66 | 44.65 | 40.58 | |
Weighted-Average Exercise Price, Forfeited during the year | $ 0 | $ 0 | $ 0 | |
Proceeds from stock option exercises | $ 223 | $ 526 | $ 1,164 | |
Intrinsic value of stock options exercised | 93 | 368 | 944 | |
Stock-based compensation expense associated with stock options | 60 | 119 | 178 | |
Income tax benefit recognized related to stock-based compensation | 5 | $ 12 | $ 19 | |
Unrecognized stock-based compensation expense | $ 24 | |||
Weighted average period in which the above amount is expected to be recognized | 10 months 24 days |
Employee Benefit Plans (Restric
Employee Benefit Plans (Restricted Shares Activity And Related Information) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Restricted Stock or Unit Expense | $ 2,836 | $ 2,022 | $ 1,609 |
Unrecognized stock-based compensation expense | $ 24 | ||
Weighted average period in which the above amount is expected to be recognized | 10 months 24 days | ||
Restricted Stock | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Restricted Awards, beginning balance | 148,083 | 149,692 | 170,033 |
Restricted Awards, Granted | 44,696 | 44,598 | 28,363 |
Restricted Awards, Forfeited/Vested | (34,225) | (46,207) | (48,704) |
Restricted Awards, ending balance | 158,554 | 148,083 | 149,692 |
Average Market Price at Grant, Granted | $ 69.28 | $ 77.78 | $ 69.94 |
Unrecognized stock-based compensation expense | $ 5,278 | ||
Weighted average period in which the above amount is expected to be recognized | 2 years 10 months 24 days |
Employee Benefit Plans (Summa_2
Employee Benefit Plans (Summary of 401k Activity) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total expense associated with the retirement benefit plan | $ 1,061 | $ 1,023 | $ 905 |
Common Stock Shares Held In Benefit Plan | 198,300 | 203,989 | 229,276 |
Employee Benefit Plans (Summa_3
Employee Benefit Plans (Summary Of Activity Within The Defined Benefit Plan) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Change in fair value of plan assets: | |||
Fair value at beginning of measurement period | $ 11,884 | $ 12,041 | |
Actual gain (loss) on plan assets | 1,324 | 880 | |
Contributions by employer | 450 | 0 | |
Defined Benefit Plan, Plan Assets, Benefits Paid | 1,029 | 1,037 | |
Fair value at End of measurement period | 12,629 | 11,884 | $ 12,041 |
Change in benefit obligation: | |||
Benefit obligation at beginning of measurement period | (15,219) | (14,222) | |
Interest cost | (448) | (561) | (590) |
Actuarial loss | 83 | (21) | |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Other Change | (944) | (1,452) | |
Benefits paid | (1,029) | (1,037) | |
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement | 0 | 0 | |
Benefit obligation at end of measurement period | (15,499) | (15,219) | $ (14,222) |
Funded status | (2,870) | (3,335) | |
Other comprehensive loss | $ (5,661) | $ (6,270) | |
Weighted-average assumptions for benefit cost at beginning of year, Discount rate | 2.21% | 3.05% | |
Weighted-average assumptions for balance sheet liability at end of year, Expected long-term rate of return | 6.75% | 6.75% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.05% | 4.10% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 6.75% | 6.75% |
Employee Benefit Plans (Net Per
Employee Benefit Plans (Net Periodic Pension Cost Of The Defined Benefit Plan) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |||
Interest cost | $ 448 | $ 561 | $ 590 |
Expected return on plan assets | (814) | (856) | (1,080) |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 0 | 0 | 71 |
Net amortization and deferral | 1,089 | 917 | 890 |
Net Periodic Pension Cost | $ 723 | $ 622 | $ 471 |
Employee Benefit Plans (Schedul
Employee Benefit Plans (Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax | $ 737 | $ (530) | $ (1,092) |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax | (128) | 131 | 254 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | 609 | (399) | $ (838) |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax | 7,445 | 8,182 | |
Underfunded pension liability, deferred tax benefit | (1,784) | (1,912) | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $ 5,661 | $ 6,270 |
Employee Benefit Plans (Summa_4
Employee Benefit Plans (Summary Of Expected Benefit Payments) (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Defined Benefit Plan, Expected Future Benefit Payment, Year One | $ 986 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 984 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 989 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 978 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 993 |
Defined Benefit Plan, Expected Future Benefit Payment, after Year Five for Next Five Years | $ 4,680 |
Employee Benefit Plans (Summa_5
Employee Benefit Plans (Summary Of Assets Segregated By Level Of Valuation Inputs Within The Fair Value Hierarchy) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plan Disclosure [Line Items] | |||
Total | $ 12,629 | $ 11,884 | $ 12,041 |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 10,247 | 6,866 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 2,382 | 5,018 | |
Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 0 | 0 | |
Cash and Cash Equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 146 | 79 | |
Cash and Cash Equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 146 | 79 | |
Cash and Cash Equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 0 | 0 | |
Cash and Cash Equivalents | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 0 | 0 | |
US Government Agencies Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 100 | ||
US Government Agencies Debt Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 0 | ||
US Government Agencies Debt Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 100 | ||
US Government Agencies Debt Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | |||
Common stocks | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 10,101 | 6,787 | |
Common stocks | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 10,101 | 6,787 | |
Common stocks | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 0 | 0 | |
Common stocks | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 0 | 0 | |
Corporate Bond Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 2,282 | 5,018 | |
Corporate Bond Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 0 | 0 | |
Corporate Bond Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 2,282 | 5,018 | |
Corporate Bond Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | $ 0 | $ 0 |
Employee Benefit Plans (Summa_6
Employee Benefit Plans (Summary of Pentegra Plans) (Details) - Pentegra Defined Benefit Plan for Financial Institutions | Dec. 31, 2020 |
Classic Bancshares, Inc. [Domain] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Defined Benefit Plan, Funded Percentage | 89.16% |
Poage Bankshares, Inc. [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Defined Benefit Plan, Funded Percentage | 91.56% |
Employee Benefit Plans (Summa_7
Employee Benefit Plans (Summary of Other Post-Retirement Benefits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Deferred compensation agreement costs | $ 278 | $ 304 | $ 280 |
Deferred compensation agreement liabilities | 6,093 | 6,570 | 6,923 |
Cash Surrender Value of Life Insurance | $ 5,916 | $ 6,544 | $ 6,807 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Related Parties | $ 19,467 | $ 20,382 |
Total principal additions | 9,299 | |
Total principal reductions | (10,214) | |
Unfunded Loan Commitment | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans and Leases Receivable, Related Parties | $ 12,819 | $ 13,006 |
Commitments And Contingencies_2
Commitments And Contingencies (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Standby letters of credit | ||
Other Commitments [Line Items] | ||
Contractual obligations | $ 6,460 | $ 6,748 |
Commercial letters of credit | ||
Other Commitments [Line Items] | ||
Contractual obligations | 610 | 1,249 |
Home equity lines | Commitments to extend credit: | ||
Other Commitments [Line Items] | ||
Contractual obligations | 215,619 | 214,715 |
Commercial Real Estate [Member] | Commitments to extend credit: | ||
Other Commitments [Line Items] | ||
Contractual obligations | 65,828 | 56,941 |
Other commitments | Commitments to extend credit: | ||
Other Commitments [Line Items] | ||
Contractual obligations | $ 245,647 | $ 213,904 |
Preferred Stock Preferred Stock
Preferred Stock Preferred Stock (Details) | Dec. 31, 2020shares |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
Preferred shares outstanding | 0 |
Regulatory Requirements And C_3
Regulatory Requirements And Capital Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Parent Company | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Cash balance | $ 22,335 | $ 26,171 |
City National | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Dividends Available Without Regulatory Approval | $ 67,700 |
Regulatory Requirements And C_4
Regulatory Requirements And Capital Ratios (Schedule Of Capital Amounts And Ratios) (Details) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Parent Company | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
CET1 capital | $ 557,641 | $ 532,640 |
CET1 ratio | 0.162 | 0.160 |
CET1 capital, minimum capital required basel III fully phased in | $ 241,221 | $ 232,358 |
CET1 ratio, minimum capital required basel III fully phased in | 7.00% | 7.00% |
CET1 capital, required to be well-capitalized | $ 223,991 | $ 215,761 |
CET1 ratio, required to be well capitalized | 6.50% | 6.50% |
Tier I capital | $ 557,641 | $ 536,640 |
Tier I capital, ratio | 0.162 | 0.162 |
Tier 1, capital, minimum capital required basel III fully phased in | $ 292,911 | $ 282,150 |
Tier 1, ratio, minimum capital required basel III fully phased in | 8.50% | 8.50% |
Tier 1, capital, required to be well-capitalized | $ 275,681 | $ 265,552 |
Tier 1, ratio, required to be well-capitalized | 0.080 | 0.080 |
Total capital | $ 577,292 | $ 548,291 |
Total capital, ratio | 0.168 | 0.165 |
Total capital, minimum capital required basel III fully phased in | $ 361,831 | $ 348,538 |
Total capital, ratio, minimum capital required basel III fully phased in | 10.50% | 10.50% |
Total capital, required to be well-capitalized | $ 344,601 | $ 331,941 |
Total capital, ratio, required to be well-capitalized | 0.100 | 0.100 |
Tier 1 Leverage Capital, Average Assets | $ 557,641 | $ 536,640 |
Tier I Leverage Ratio, Average Assets | 0.102 | 0.110 |
Tier 1 Leverage Capital, minimum capital required basel III fully phased in | $ 218,163 | $ 195,558 |
Tier 1 Leverage Ratio, minimum capital required basel III fully phased in | 4.00% | 4.00% |
Tier 1 Leverage Capital Required to be Well Capitalized | $ 272,704 | $ 244,448 |
Tier 1 Leverage Capital, Average Assets, Well Capitalized Ratio | 0.050 | 0.050 |
City National | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
CET1 capital | $ 482,754 | $ 459,006 |
CET1 ratio | 0.141 | 0.139 |
CET1 capital, minimum capital required basel III fully phased in | $ 239,569 | $ 230,808 |
CET1 ratio, minimum capital required basel III fully phased in | 7.00% | 7.00% |
CET1 capital, required to be well-capitalized | $ 222,457 | $ 214,322 |
CET1 ratio, required to be well capitalized | 6.50% | 6.50% |
Tier I capital | $ 482,754 | $ 459,006 |
Tier I capital, ratio | 0.141 | 0.139 |
Tier 1, capital, minimum capital required basel III fully phased in | $ 290,906 | $ 280,267 |
Tier 1, ratio, minimum capital required basel III fully phased in | 8.50% | 8.50% |
Tier 1, capital, required to be well-capitalized | $ 273,793 | $ 263,781 |
Tier 1, ratio, required to be well-capitalized | 0.080 | 0.080 |
Total capital | $ 502,405 | $ 470,656 |
Total capital, ratio | 0.147 | 0.143 |
Total capital, minimum capital required basel III fully phased in | $ 359,354 | $ 346,213 |
Total capital, ratio, minimum capital required basel III fully phased in | 10.50% | 10.50% |
Total capital, required to be well-capitalized | $ 342,242 | $ 329,726 |
Total capital, ratio, required to be well-capitalized | 0.100 | 0.100 |
Tier 1 Leverage Capital, Average Assets | $ 482,754 | $ 459,006 |
Tier I Leverage Ratio, Average Assets | 0.090 | 0.095 |
Tier 1 Leverage Capital, minimum capital required basel III fully phased in | $ 215,277 | $ 193,074 |
Tier 1 Leverage Ratio, minimum capital required basel III fully phased in | 4.00% | 4.00% |
Tier 1 Leverage Capital Required to be Well Capitalized | $ 269,097 | $ 241,342 |
Tier 1 Leverage Capital, Average Assets, Well Capitalized Ratio | 0.050 | 0.050 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | $ 0 | |
Derivative Credit Risk Valuation Adjustment, Derivative Assets | 0 | |
Derivative Credit Risk Valuation Adjustment, Derivative Liabilities | $ 0 | |
Minimum | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Collateral discount | 15.00% | 15.00% |
Maximum | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Collateral discount | 30.00% | 30.00% |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring And Nonrecurring Basis) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset write down | $ 0 | $ 297 | $ 491 |
Impaired loans | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Provision For Loan Losses on Impaired Loans During Period | (1,118) | (87) | |
Other real estate owned | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Write-downs included in other non-interest expense | (292) | (470) | |
Fair Value, Recurring [Member] | U.S. Government agencies | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 502 | |
Fair Value, Recurring [Member] | U.S. Government agencies | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 502 | ||
Fair Value, Recurring [Member] | Obligations of states and political subdivisions | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 277,811 | 117,187 | |
Fair Value, Recurring [Member] | Obligations of states and political subdivisions | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 277,811 | 117,187 | |
Fair Value, Recurring [Member] | U.S. Government agencies | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 850,384 | 642,104 | |
Fair Value, Recurring [Member] | U.S. Government agencies | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 850,384 | 642,104 | |
Fair Value, Recurring [Member] | Private label | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 10,892 | 11,485 | |
Fair Value, Recurring [Member] | Private label | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 6,061 | 11,485 | |
Fair Value, Recurring [Member] | Private label | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 4,831 | ||
Fair Value, Recurring [Member] | Trust preferred securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 4,100 | 4,461 | |
Fair Value, Recurring [Member] | Trust preferred securities | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 4,100 | 4,461 | |
Fair Value, Recurring [Member] | Corporate securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 33,610 | 32,126 | |
Fair Value, Recurring [Member] | Corporate securities | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 29,606 | 32,126 | |
Fair Value, Recurring [Member] | Corporate securities | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 4,004 | ||
Fair Value, Recurring [Member] | Equity Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 11,839 | 12,634 | |
Fair Value, Recurring [Member] | Equity Securities | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 6,800 | 7,787 | |
Fair Value, Recurring [Member] | Equity Securities | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 5,039 | 4,847 | |
Fair Value, Recurring [Member] | Certificates of Deposit | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 1,992 | 2,241 | |
Fair Value, Recurring [Member] | Certificates of Deposit | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 1,992 | 2,241 | |
Fair Value, Recurring [Member] | Derivative assets | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 53,166 | 19,310 | |
Fair Value, Recurring [Member] | Derivative assets | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 53,166 | 19,310 | |
Fair Value, Recurring [Member] | Derivative liabilities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 53,288 | 19,380 | |
Fair Value, Recurring [Member] | Derivative liabilities | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | |
Fair Value, Recurring [Member] | Derivative liabilities | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 53,288 | 19,380 | |
Fair Value, Recurring [Member] | Derivative liabilities | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | |
Fair Value, Nonrecurring [Member] | Impaired loans | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 7,634 | 8,925 | |
Fair Value, Nonrecurring [Member] | Impaired loans | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Fair Value, Nonrecurring [Member] | Impaired loans | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Fair Value, Nonrecurring [Member] | Impaired loans | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 7,634 | 8,925 | |
Fair Value, Nonrecurring [Member] | Other real estate owned | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 1,650 | 4,670 | |
Fair Value, Nonrecurring [Member] | Other real estate owned | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Fair Value, Nonrecurring [Member] | Other real estate owned | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Fair Value, Nonrecurring [Member] | Other real estate owned | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | $ 1,650 | 4,670 | |
Fair Value, Nonrecurring [Member] | Other Assets | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 100 | ||
Fair Value, Nonrecurring [Member] | Other Assets | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | ||
Fair Value, Nonrecurring [Member] | Other Assets | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | ||
Fair Value, Nonrecurring [Member] | Other Assets | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | $ 100 |
Fair Value Measurements (Sche_2
Fair Value Measurements (Schedule Of Estimates Of Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Available-for-sale Securities | $ 1,178,789 | $ 810,106 |
Debt Securities, Held-to-maturity, Fair Value | 50,598 | |
Marketable Securities | 1,206,161 | 887,632 |
Carrying Amount | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 528,659 | 140,144 |
Available-for-sale Securities | 1,178,789 | 810,106 |
Debt Securities, Held-to-maturity, Fair Value | 49,036 | |
Marketable Securities | 11,839 | 12,634 |
Loans Receivable, Fair Value Disclosure | 3,597,570 | 3,604,510 |
Accrued Interest Receivable Fair Value Disclosure | 15,793 | 11,569 |
Derivative Asset | 53,166 | 19,310 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
Deposits, Fair Value Disclosure | 4,652,216 | 4,075,894 |
Short-term Debt, Fair Value | 295,956 | 211,255 |
Long-term Debt, Fair Value | 4,056 | |
Accrued Interest Payable Fair Value Disclosure | 1,586 | 2,849 |
Derivative Liability | 53,288 | 19,380 |
Fair Value | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 528,659 | 140,144 |
Available-for-sale Securities | 1,178,789 | 810,106 |
Debt Securities, Held-to-maturity, Fair Value | 50,598 | |
Marketable Securities | 11,839 | 12,634 |
Loans Receivable, Fair Value Disclosure | 3,578,013 | 3,574,435 |
Accrued Interest Receivable Fair Value Disclosure | 15,793 | 11,569 |
Derivative Asset | 53,166 | 19,310 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
Deposits, Fair Value Disclosure | 4,665,905 | 4,094,493 |
Short-term Debt, Fair Value | 295,956 | 211,255 |
Long-term Debt, Fair Value | 4,124 | |
Accrued Interest Payable Fair Value Disclosure | 1,586 | 2,849 |
Derivative Liability | 53,288 | 19,380 |
Level 1 | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 528,659 | 140,144 |
Available-for-sale Securities | 0 | 0 |
Debt Securities, Held-to-maturity, Fair Value | 0 | |
Marketable Securities | 6,800 | 7,787 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued Interest Receivable Fair Value Disclosure | 15,793 | 11,569 |
Derivative Asset | 0 | 0 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
Deposits, Fair Value Disclosure | 3,392,194 | 2,711,323 |
Short-term Debt, Fair Value | 0 | 0 |
Long-term Debt, Fair Value | 0 | |
Accrued Interest Payable Fair Value Disclosure | 1,586 | 2,849 |
Derivative Liability | 0 | 0 |
Level 2 | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Available-for-sale Securities | 1,169,954 | 810,106 |
Debt Securities, Held-to-maturity, Fair Value | 50,598 | |
Marketable Securities | 5,039 | 4,847 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued Interest Receivable Fair Value Disclosure | 0 | 0 |
Derivative Asset | 53,166 | 19,310 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
Deposits, Fair Value Disclosure | 1,273,711 | 1,383,170 |
Short-term Debt, Fair Value | 295,956 | 211,255 |
Long-term Debt, Fair Value | 4,124 | |
Accrued Interest Payable Fair Value Disclosure | 0 | 0 |
Derivative Liability | 53,288 | 19,380 |
Level 3 | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Available-for-sale Securities | 8,835 | 0 |
Debt Securities, Held-to-maturity, Fair Value | 0 | |
Marketable Securities | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 3,578,013 | 3,574,435 |
Accrued Interest Receivable Fair Value Disclosure | 0 | 0 |
Derivative Asset | 0 | 0 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
Deposits, Fair Value Disclosure | 0 | 0 |
Short-term Debt, Fair Value | 0 | 0 |
Long-term Debt, Fair Value | 0 | |
Accrued Interest Payable Fair Value Disclosure | 0 | 0 |
Derivative Liability | $ 0 | $ 0 |
City Holding Company (Parent _3
City Holding Company (Parent Company Only) Financial Information (Condensed Balance Sheets) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | ||||
Available-for-sale Securities | $ 1,178,789 | $ 810,106 | ||
Net Loans | 3,597,570 | 3,604,510 | ||
Fixed assets | 76,925 | 76,965 | ||
Other assets | 96,697 | 55,765 | ||
Total Assets | 5,758,640 | 5,018,756 | ||
Liabilities | ||||
Deferred Tax Liabilities, Net | 3,202 | |||
Other liabilities | 106,160 | 69,568 | ||
Total Liabilities | 5,057,534 | 4,360,773 | ||
Total Shareholders’ Equity | 701,106 | 657,983 | $ 600,764 | $ 502,507 |
Total Liabilities and Shareholders’ Equity | 5,758,640 | 5,018,756 | ||
Parent Company | ||||
Assets | ||||
Cash | 22,335 | 26,171 | ||
Available-for-sale Securities | 5,267 | 6,286 | ||
Investment in subsidiaries | 681,744 | 638,490 | ||
Net Loans | 624 | 663 | ||
Fixed assets | 15 | 23 | ||
Other assets | 932 | 643 | ||
Total Assets | 710,917 | 672,276 | ||
Liabilities | ||||
Junior subordinated debentures | 0 | 4,056 | ||
Dividends payable | 9,145 | 9,293 | ||
Deferred Tax Liabilities, Net | 298 | 534 | ||
Other liabilities | 368 | 410 | ||
Total Liabilities | 9,811 | 14,293 | ||
Total Shareholders’ Equity | 701,106 | 657,983 | ||
Total Liabilities and Shareholders’ Equity | $ 710,917 | $ 672,276 |
City Holding Company (Parent _4
City Holding Company (Parent Company Only) Financial Information (Condensed Statements Of Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Equity Securities, FV-NI, Unrealized Loss | $ (801) | $ 957 | $ (90) | ||||||||
Interest expense | $ 4,318 | $ 5,254 | $ 6,242 | $ 7,801 | $ 8,701 | $ 9,444 | $ 9,327 | $ 8,867 | 23,615 | 36,339 | 25,692 |
Merger related costs | 0 | 797 | 13,257 | ||||||||
Income tax benefit | 4,565 | 5,098 | 4,732 | 7,322 | 6,319 | 6,193 | 5,813 | 5,810 | 21,717 | 24,135 | 18,015 |
Net Income (Loss) Attributable to Parent | $ 22,222 | $ 20,126 | $ 18,251 | $ 28,996 | $ 22,611 | $ 22,371 | $ 22,751 | $ 21,619 | 89,595 | 89,352 | 70,002 |
Total Comprehensive Income | 114,988 | 109,674 | 63,821 | ||||||||
Parent Company | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Dividend Income, Operating | 74,300 | 58,000 | 50,000 | ||||||||
Equity Securities, FV-NI, Unrealized Loss | (1,018) | 425 | 208 | ||||||||
Other income | 183 | 151 | 130 | ||||||||
Income | 73,465 | 58,576 | 50,338 | ||||||||
Interest expense | 100 | 182 | 880 | ||||||||
Merger related costs | 0 | 0 | 1,899 | ||||||||
Other expenses | 1,810 | 1,794 | 1,842 | ||||||||
Expenses | 1,910 | 1,976 | 4,621 | ||||||||
Income Before Income Tax Benefit and Equity in Undistributed Net Income of Subsidiaries | 71,555 | 56,600 | 45,717 | ||||||||
Income tax benefit | (760) | (455) | (1,114) | ||||||||
Income Before Equity in Undistributed Net Income of Subsidiaries | 72,315 | 57,055 | 46,831 | ||||||||
Equity in undistributed net income of subsidiaries | 17,280 | 32,297 | 23,171 | ||||||||
Net Income (Loss) Attributable to Parent | 89,595 | 89,352 | 70,002 | ||||||||
Total Comprehensive Income | $ 114,988 | $ 109,674 | $ 63,821 |
City Holding Company (Parent _5
City Holding Company (Parent Company Only) Financial Information (Condensed Statements Of Cash Flows) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Activities | |||||||||||
Net Income (Loss) Attributable to Parent | $ 22,222 | $ 20,126 | $ 18,251 | $ 28,996 | $ 22,611 | $ 22,371 | $ 22,751 | $ 21,619 | $ 89,595 | $ 89,352 | $ 70,002 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Unrealized and Realized Investment Gains (Losses) | 801 | (957) | 90 | ||||||||
Deferred income tax expense (benefit) | 2,640 | 4,939 | (1,244) | ||||||||
Stock based compensation | 3,253 | 2,516 | 2,151 | ||||||||
Asset write down | 0 | 297 | 491 | ||||||||
Change in other assets | (13,790) | (1,959) | 5,404 | ||||||||
Change in other liabilities | 11,974 | 7,587 | 4,308 | ||||||||
Net Cash Provided by Operating Activities | 89,795 | 105,048 | 77,572 | ||||||||
Investing Activities | |||||||||||
Proceeds from sales of available for sale securities | 30,307 | 70,404 | 0 | ||||||||
Payments for (Proceeds from) Loans and Leases | (3,911) | (30,146) | (95,284) | ||||||||
Net Cash Used in Investing Activities | (285,286) | (108,831) | (168,465) | ||||||||
Financing Activities | |||||||||||
Repayment of long-term debt | (4,056) | 0 | (16,495) | ||||||||
Proceeds from sale of capital securities | 0 | 0 | 495 | ||||||||
Dividends paid | (36,673) | (35,547) | (29,583) | ||||||||
Purchases of treasury stock | (36,481) | (19,431) | (20,271) | ||||||||
Exercise of stock options | 223 | 526 | 1,164 | ||||||||
Net Cash Provided by Financing Activities | 584,006 | 20,936 | 131,376 | ||||||||
Increase in Cash and Cash Equivalents | 388,515 | 17,153 | 40,483 | ||||||||
Cash and cash equivalents at beginning of period | 140,144 | 122,991 | 140,144 | 122,991 | 82,508 | ||||||
Cash and Cash Equivalents at End of Period | 528,659 | 140,144 | 528,659 | 140,144 | 122,991 | ||||||
Parent Company | |||||||||||
Operating Activities | |||||||||||
Net Income (Loss) Attributable to Parent | 89,595 | 89,352 | 70,002 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Unrealized and Realized Investment Gains (Losses) | 1,018 | (425) | (208) | ||||||||
Deferred income tax expense (benefit) | (255) | 173 | (88) | ||||||||
Depreciation, Amortization and Accretion, Net | 1 | 3 | 1 | ||||||||
Stock based compensation | 3,253 | 2,516 | 2,151 | ||||||||
Asset write down | 0 | 0 | 193 | ||||||||
Change in other assets | (284) | 2,696 | 2,668 | ||||||||
Change in other liabilities | (2,936) | (2,060) | (1,816) | ||||||||
Equity In Undistributed Earnings Of Subsidiaries | (17,280) | (32,297) | (23,171) | ||||||||
Net Cash Provided by Operating Activities | 73,112 | 59,958 | 49,732 | ||||||||
Investing Activities | |||||||||||
Proceeds from sales of available for sale securities | 0 | 6 | 0 | ||||||||
Payments for (Proceeds from) Loans and Leases | 39 | 38 | 0 | ||||||||
Net Cash Used in Investing Activities | 39 | 44 | (23,452) | ||||||||
Financing Activities | |||||||||||
Repayment of long-term debt | (4,056) | 0 | (16,495) | ||||||||
Proceeds from sale of capital securities | 0 | 0 | 495 | ||||||||
Dividends paid | (36,673) | (35,547) | (29,583) | ||||||||
Purchases of treasury stock | (36,481) | (19,431) | (20,271) | ||||||||
Exercise of stock options | 223 | 526 | 1,164 | ||||||||
Net Cash Provided by Financing Activities | (76,987) | (54,452) | (64,690) | ||||||||
Increase in Cash and Cash Equivalents | (3,836) | 5,550 | (38,410) | ||||||||
Cash and cash equivalents at beginning of period | $ 26,171 | $ 20,621 | 26,171 | 20,621 | 59,031 | ||||||
Cash and Cash Equivalents at End of Period | $ 22,335 | $ 26,171 | $ 22,335 | 26,171 | 20,621 | ||||||
Farmers Deposit Bancorp, Inc. [Member] | |||||||||||
Investing Activities | |||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | (20,691) | ||||||||||
Farmers Deposit Bancorp, Inc. [Member] | Parent Company | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Cash Acquired from Acquisition | 946 | ||||||||||
Investing Activities | |||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 0 | (23,954) | |||||||||
Poage Bankshares, Inc. [Member] | |||||||||||
Investing Activities | |||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 32,917 | ||||||||||
Poage Bankshares, Inc. [Member] | Parent Company | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Cash Acquired from Acquisition | 518 | ||||||||||
Investing Activities | |||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 0 | $ (502) |
Summarized Quarterly Financia_3
Summarized Quarterly Financial Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Interest income | $ 42,499 | $ 43,231 | $ 44,312 | $ 48,217 | $ 48,548 | $ 49,981 | $ 50,238 | $ 48,933 | $ 178,259 | $ 197,700 | $ 163,901 |
Taxable equivalent adjustment | 333 | 301 | 217 | 188 | 189 | 192 | 202 | 208 | |||
Interest income (FTE) | 42,832 | 43,532 | 44,529 | 48,405 | 48,737 | 50,173 | 50,440 | 49,141 | |||
Interest expense | 4,318 | 5,254 | 6,242 | 7,801 | 8,701 | 9,444 | 9,327 | 8,867 | 23,615 | 36,339 | 25,692 |
Net Interest Income | 38,514 | 38,278 | 38,287 | 40,604 | 40,036 | 40,729 | 41,113 | 40,274 | |||
Financing Receivable, Credit Loss, Expense (Reversal) | 474 | 1,026 | 1,250 | 7,972 | (75) | 274 | (600) | (849) | 10,722 | (1,250) | (2,310) |
Noninterest income | 17,721 | 16,985 | 14,631 | 33,343 | 18,042 | 16,698 | 17,825 | 15,925 | 82,680 | 68,490 | 60,564 |
Noninterest expense | 28,641 | 28,712 | 28,468 | 29,469 | 29,034 | 28,397 | 30,772 | 29,411 | 115,290 | 117,614 | 113,066 |
Income Loss From Continuing Operations Before Tax Equivalent Adjustment Income Taxes Extraordinary Items Noncontrolling Interest | 27,120 | 25,525 | 23,200 | 36,506 | 29,119 | 28,756 | 28,766 | 27,637 | |||
Income tax expense | 4,565 | 5,098 | 4,732 | 7,322 | 6,319 | 6,193 | 5,813 | 5,810 | 21,717 | 24,135 | 18,015 |
Interest Income Taxable Equivalent Adjustment - Tax | (333) | (301) | (217) | (188) | (189) | (192) | (202) | (208) | |||
Net Income Available to Common Shareholders | 22,222 | 20,126 | 18,251 | 28,996 | 22,611 | 22,371 | 22,751 | 21,619 | 89,595 | 89,352 | 70,002 |
Net earnings allocated to common shareholders | $ 21,992 | $ 19,929 | $ 18,051 | $ 28,736 | $ 22,372 | $ 22,188 | $ 22,553 | $ 21,433 | $ 88,708 | $ 88,546 | $ 69,348 |
Basic earnings per common share | $ 1.40 | $ 1.25 | $ 1.12 | $ 1.79 | $ 1.38 | $ 1.36 | $ 1.38 | $ 1.31 | $ 5.55 | $ 5.43 | $ 4.50 |
Diluted earnings per common share | $ 1.40 | $ 1.25 | $ 1.12 | $ 1.78 | $ 1.38 | $ 1.36 | $ 1.38 | $ 1.30 | $ 5.55 | $ 5.42 | $ 4.49 |
Basic | 15,708 | 15,950 | 16,081 | 16,080 | 16,207 | 16,271 | 16,368 | 16,411 | 15,975 | 16,314 | 15,421 |
Average shares outstanding, diluted | 15,733 | 15,970 | 16,097 | 16,101 | 16,230 | 16,289 | 16,386 | 16,429 | 15,995 | 16,333 | 15,439 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |||||||||||
Net Income (Loss) Attributable to Parent | $ 22,222 | $ 20,126 | $ 18,251 | $ 28,996 | $ 22,611 | $ 22,371 | $ 22,751 | $ 21,619 | $ 89,595 | $ 89,352 | $ 70,002 |
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | 887 | 806 | 654 | ||||||||
Distributed earnings allocated to common shares outstanding | 35,745 | 35,542 | 32,483 | ||||||||
Undistributed earnings allocated to common shares outstanding | 52,963 | 53,004 | 36,865 | ||||||||
Net earnings allocated to common shareholders | $ 21,992 | $ 19,929 | $ 18,051 | $ 28,736 | $ 22,372 | $ 22,188 | $ 22,553 | $ 21,433 | $ 88,708 | $ 88,546 | $ 69,348 |
Average shares outstanding, basic | 15,708 | 15,950 | 16,081 | 16,080 | 16,207 | 16,271 | 16,368 | 16,411 | 15,975 | 16,314 | 15,421 |
Effect of dilutive securities | 20 | 19 | 18 | ||||||||
Average shares outstanding, diluted | 15,733 | 15,970 | 16,097 | 16,101 | 16,230 | 16,289 | 16,386 | 16,429 | 15,995 | 16,333 | 15,439 |
Basic earnings per share | $ 1.40 | $ 1.25 | $ 1.12 | $ 1.79 | $ 1.38 | $ 1.36 | $ 1.38 | $ 1.31 | $ 5.55 | $ 5.43 | $ 4.50 |
Diluted earnings per share | $ 1.40 | $ 1.25 | $ 1.12 | $ 1.78 | $ 1.38 | $ 1.36 | $ 1.38 | $ 1.30 | $ 5.55 | $ 5.42 | $ 4.49 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Combined Federal And State Income Tax Rate | 24.00% | 23.00% | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | $ 5,840 | $ (14,482) | |
Other comprehensive (loss) income before reclassifications | 24,252 | 20,376 | |
Amounts reclassified from other comprehensive income (loss) | (47) | (54) | |
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment, after Tax | 1,188 | ||
Other Comprehensive Income (Loss), Net of Tax | 25,393 | 20,322 | $ (6,181) |
Ending balance | 31,233 | 5,840 | (14,482) |
Defined Benefit Pension Plans | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | (6,270) | (5,871) | |
Other comprehensive (loss) income before reclassifications | 609 | (399) | |
Amounts reclassified from other comprehensive income (loss) | 0 | 0 | |
Other Comprehensive Income (Loss), Net of Tax | 609 | (399) | |
Ending balance | (5,661) | (6,270) | (5,871) |
Unrealized Gains (Losses) on Securities Available-for-Sale | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | 12,110 | (8,611) | |
Other comprehensive (loss) income before reclassifications | 23,643 | 20,775 | |
Amounts reclassified from other comprehensive income (loss) | (47) | (54) | |
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment, after Tax | 1,188 | ||
Other Comprehensive Income (Loss), Net of Tax | 24,784 | 20,721 | |
Ending balance | $ 36,894 | $ 12,110 | $ (8,611) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Gains on sale of investment securities | $ (62) | $ (69) | $ 0 | ||||||||
Actual gain (loss) on plan assets | (1,324) | (880) | |||||||||
Income tax expense | $ 4,565 | $ 5,098 | $ 4,732 | $ 7,322 | $ 6,319 | $ 6,193 | $ 5,813 | $ 5,810 | 21,717 | 24,135 | 18,015 |
Net Income Available to Common Shareholders | $ (22,222) | $ (20,126) | $ (18,251) | $ (28,996) | $ (22,611) | $ (22,371) | $ (22,751) | $ (21,619) | (89,595) | (89,352) | (70,002) |
Unrealized Gains (Losses) on Securities Available-for-Sale | Reclassification out of Accumulated Other Comprehensive Income | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Gains on sale of investment securities | (62) | (69) | 0 | ||||||||
Income tax expense | 15 | 15 | 0 | ||||||||
Net Income Available to Common Shareholders | (47) | (54) | 0 | ||||||||
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Actual gain (loss) on plan assets | 0 | 0 | 163 | ||||||||
Income tax expense | 0 | 0 | (38) | ||||||||
Net Income Available to Common Shareholders | $ 0 | $ 0 | $ 125 |
Contracts With Customers Cont_3
Contracts With Customers Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from External Customer [Line Items] | |||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 61,220 | $ 63,767 | $ 57,453 | ||||||||
RevenueOutsideScopeofTopic606 | 21,460 | 4,723 | 3,111 | ||||||||
Noninterest Income | $ 17,721 | $ 16,985 | $ 14,631 | $ 33,343 | $ 18,042 | $ 16,698 | $ 17,825 | $ 15,925 | 82,680 | 68,490 | 60,564 |
Fees and Commissions, Depositor Accounts [Domain] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 25,733 | 31,515 | 29,704 | ||||||||
Fees and Commissions, Debit Cards [Domain] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 23,059 | 21,093 | 18,369 | ||||||||
Fees and Commissions, Fiduciary and Trust Accounts [Domain] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 7,736 | 7,159 | 6,529 | ||||||||
Other Non-Interest Income [Domain] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 4,692 | $ 4,000 | $ 2,851 |