Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 05, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000834285 | |
Entity Registrant Name | REPUBLIC FIRST BANCORP INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-17007 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 23-2486815 | |
Entity Address, Address Line One | 50 South 16th Street | |
Entity Address, City or Town | Philadelphia | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 19102 | |
City Area Code | 215 | |
Local Phone Number | 735-4422 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | FRBK | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 59,454,998 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 30, 2012 |
ASSETS | ||
Cash and due from banks | $ 29,746 | $ 15,560 |
Interest bearing deposits with banks | 745,554 | 368,408 |
Cash and cash equivalents | 775,300 | 383,968 |
Investment securities available for sale, at fair value | 528,508 | 880,494 |
Investment securities held to maturity, at amortized cost (fair value of $1,373,183 and $836,972, respectively) | 814,936 | 1,377,253 |
Equity securities | 9,039 | 9,231 |
Restricted stock, at cost | 3,039 | 3,510 |
Mortgage loans held for sale, at fair value | 50,387 | 12,082 |
Other loans held for sale | 2,983 | 4,909 |
Loans receivable (net of allowance for credit losses of $17,218 and $12,975, respectively) | 2,632,367 | 2,479,796 |
Premises and equipment, net | 123,170 | 125,301 |
Other real estate owned, net | 1,188 | 532 |
Accrued interest receivable | 16,120 | 15,080 |
Operating lease right-of-use asset | 72,946 | 76,772 |
Other assets | 35,752 | 36,650 |
Total Assets | 5,065,735 | 5,405,578 |
Deposits | ||
Demand - non-interest bearing | 1,006,876 | 1,346,353 |
Demand - interest bearing | 1,776,995 | 2,162,324 |
Money market and savings | 1,043,519 | 1,265,926 |
Time deposits | 186,361 | 197,478 |
Total Deposits | 4,013,751 | 4,972,081 |
Other borrowings | 633,866 | 0 |
Accrued interest payable | 926 | 482 |
Other liabilities | 20,232 | 14,843 |
Operating lease liability | 77,576 | 83,383 |
Subordinated debt | 11,271 | 11,276 |
Total Liabilities | 4,757,622 | 5,082,065 |
Commitments and contingencies (see note 3) | ||
Shareholders’ Equity | ||
Preferred stock, par value $0.01 per share; liquidation preference $25.00 per share; 10,000,000 shares authorized; share issued 2,000,000 as of September 30, 2021 and December 31, 2020; shares outstanding 2,000,000 as of September 30, 2021 and December 31, 2020 | 20 | 20 |
Common stock, par value $0.01 per share: 100,000,000 shares authorized; shares issued 59,442,998 as of September 30, 2021 and 59,388,623 as of December 31, 2020; shares outstanding 58,914,153 as of September 30, 2021 and 58,859,778 as of December 31, 2020 | 594 | 594 |
Additional paid in capital | 322,321 | 324,023 |
Retained earnings / accumulated deficit | (8,085) | 8,388 |
Treasury stock at cost (503,408 shares as of September 30, 2021 and December 31, 2020) | (3,725) | (3,725) |
Stock held by deferred compensation plan (25,437 shares as of September 30, 2021 and December 31, 2020) | (183) | (183) |
Accumulated other comprehensive loss | (2,829) | (5,604) |
Total Shareholders’ Equity | 308,113 | 323,513 |
Total Liabilities and Shareholders’ Equity | $ 5,065,735 | $ 5,405,578 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 30, 2012 |
Investment securities held to maturity, at fair value | $ 836,972 | $ 1,373,183 |
Loans receivable, allowance for loan losses | $ 12,975 | $ 17,218 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, liquidation value per share (in dollars per share) | $ 25 | $ 25 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares outstanding (in shares) | 2,000,000 | 2,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 59,388,623 | 59,442,998 |
Common stock, shares outstanding (in shares) | 58,859,778 | 58,914,153 |
Treasury stock (in shares) | 503,408 | 503,408 |
Stock held by deferred compensation plan (in shares) | 25,437 | 25,437 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest income: | ||||
Interest and fees on taxable loans | $ 26,954 | $ 24,135 | $ 84,453 | $ 65,941 |
Interest and fees on tax-exempt loans | 426 | 548 | 1,290 | 1,652 |
Interest and dividends on taxable investment securities | 8,128 | 3,758 | 21,273 | 15,612 |
Interest and dividends on tax-exempt investment securities | 89 | 20 | 242 | 59 |
Interest on federal funds sold and other interest-earning assets | 181 | 99 | 294 | 438 |
Total interest income | 35,778 | 28,560 | 107,552 | 83,702 |
Interest expense: | ||||
Demand- interest bearing | 3,165 | 3,056 | 9,706 | 9,333 |
Money market and savings | 837 | 1,613 | 2,888 | 4,827 |
Time deposits | 281 | 884 | 1,245 | 3,138 |
Other borrowings | 53 | 77 | 200 | 293 |
Total interest expense | 4,336 | 5,630 | 14,039 | 17,591 |
Net interest income | 31,442 | 22,930 | 93,513 | 66,111 |
Provision for loan losses | 900 | 850 | 3,900 | 2,800 |
Net interest income after provision for loan losses | 30,542 | 22,080 | 89,613 | 63,311 |
Non-interest income: | ||||
Gain on sales of SBA loans | 641 | 649 | 2,035 | 1,567 |
Gain on sale of investment securities | 0 | 279 | 2 | 2,760 |
Other non-interest income | 50 | 1,090 | 624 | 1,546 |
Total non-interest income | 7,317 | 10,031 | 25,272 | 25,000 |
Non-interest expenses: | ||||
Salaries and employee benefits | 14,640 | 14,596 | 44,216 | 41,154 |
Occupancy | 3,630 | 3,560 | 11,238 | 10,294 |
Depreciation and amortization | 2,059 | 1,964 | 6,368 | 6,081 |
Legal | 265 | 261 | 776 | 810 |
Other real estate owned | 119 | 80 | 710 | 437 |
Appraisal and other loan expenses | 410 | 619 | 1,669 | 1,580 |
Advertising | 192 | 386 | 482 | 1,055 |
Data processing | 2,472 | 1,606 | 5,991 | 4,747 |
Insurance | 304 | 279 | 938 | 836 |
Professional fees | 800 | 679 | 2,371 | 2,069 |
Debit card processing | 743 | 915 | 2,527 | 2,639 |
Regulatory assessments and costs | 904 | 625 | 2,511 | 1,930 |
Taxes, other | 978 | 303 | 2,083 | 789 |
Goodwill impairment | 0 | 5,011 | 0 | 5,011 |
Other operating expenses | 2,259 | 2,696 | 7,760 | 8,084 |
Total non-interest expense | 29,775 | 33,580 | 89,640 | 87,516 |
Income (loss) before benefit for income taxes | 8,084 | (1,469) | 25,245 | 795 |
Provision (benefit) for income taxes | 1,988 | (503) | 6,147 | (158) |
Net income (loss) | 6,096 | (966) | 19,098 | 953 |
Preferred stock dividends | 875 | 0 | 2,625 | 0 |
Net income (loss) available to common shareholders | $ 5,221 | $ (966) | $ 16,473 | $ 953 |
Net income (loss) per share: | ||||
Basic earnings per common share (in dollars per share) | $ 0.09 | $ (0.02) | $ 0.28 | $ 0.02 |
Diluted earnings per common share (in dollars per share) | $ 0.08 | $ (0.02) | $ 0.25 | $ 0.02 |
Loan and Servicing Fees [Member] | ||||
Non-interest income: | ||||
Non-interest income | $ 946 | $ 917 | $ 2,239 | $ 2,152 |
Mortgage Banking [Member] | ||||
Non-interest income: | ||||
Non-interest income | 2,397 | 4,962 | 9,869 | 10,809 |
Deposit Account [Member] | ||||
Non-interest income: | ||||
Non-interest income | $ 3,283 | $ 2,134 | $ 10,503 | $ 6,166 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income (loss) | $ 6,096 | $ (966) | $ 19,098 | $ 953 |
Unrealized gains (losses) on securities (pre-tax ($4,158), ($795), $(5,717), and $4,668, respectively) | (3,102) | (593) | (4,265) | 3,483 |
Reclassification adjustment for securities (gains) (pre-tax ($2), ($279), ($2), and ($2,760), respectively) | (1) | (208) | (1) | (2,060) |
Net unrealized gains (losses) on securities | (3,103) | (801) | (4,266) | 1,423 |
Amortization of net unrealized holding losses to income during the period (pre-tax $499, $952, $1,998, and $2,006 respectively) | 373 | 710 | 1,491 | 1,498 |
Total other comprehensive income (loss) | (2,730) | (91) | (2,775) | 2,921 |
Total comprehensive income (loss) | $ 3,366 | $ (1,057) | $ 16,323 | $ 3,874 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Unrealized gain (loss) on securities, pre-tax | $ (4,158) | $ (795) | $ (5,717) | $ 4,668 |
Reclassification adjustment for impairment charge, pre-tax | (2) | (279) | (2) | (2,760) |
Amortization of net unrealized holding losses to income during the period, pre-tax | $ 499 | $ 952 | $ 1,998 | $ 2,006 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities | ||
Net income | $ 19,098,000 | $ 953,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Goodwill impairment | 0 | 5,011,000 |
Provision for loan losses | 3,900,000 | 2,800,000 |
Write down of other real estate owned | 670,000 | 31,000 |
Depreciation and amortization | 6,368,000 | 6,081,000 |
Stock based compensation | 1,562,000 | 1,538,000 |
Gain on sale of investment securities | (2,000) | (2,760,000) |
Fair value adjustments on equity securities | (192,000) | 0 |
Amortization of premiums on investment securities | 6,394,000 | 5,573,000 |
Accretion of discounts on retained SBA loans | (709,000) | (655,000) |
Fair value adjustments on SBA servicing assets | 545,000 | 301,000 |
Proceeds from sales of SBA loans originated for sale | 22,489,000 | 22,999,000 |
SBA loans originated for sale | (22,380,000) | (19,294,000) |
Gains on sales of SBA loans originated for sale | (2,035,000) | (1,567,000) |
Proceeds from sales of mortgage loans originated for sale | 344,087,000 | 289,521,000 |
Mortgage loans originated for sale | (298,521,000) | (312,150,000) |
Fair value adjustment for mortgage loans originated for sale | 1,920,000 | (1,338,000) |
Gains on sales of mortgage loans originated for sale | (9,572,000) | (7,590,000) |
Amortization of debt issuance costs | 5,000 | 5,000 |
Non-cash expense related to leases | 249,000 | 448,000 |
Net decrease (increase) in accrued interest receivable and other assets | 1,392,000 | (8,149,000) |
Net (decrease) increase in accrued interest payable and other liabilities | (4,563,000) | 6,004,000 |
Net cash provided by (used in) operating activities | 70,705,000 | (12,238,000) |
Cash flows from investing activities | ||
Purchase of investment securities available for sale | (464,868,000) | (166,622,000) |
Purchase of investment securities held to maturity | (764,947,000) | (208,230,000) |
Proceeds from the sale of securities available for sale | 0 | 125,222,000 |
Proceeds from the paydown, maturity, or call of securities available for sale | 104,147,000 | 144,057,000 |
Proceeds from the paydown, maturity, or call of securities held to maturity | 201,255,000 | 160,964,000 |
Net purchase of restricted stock | (471,000) | (1,043,000) |
Net decrease (increase) in loans | 149,212,000 | (880,763,000) |
Net proceeds from sale of other real estate owned | 155,000 | 586,000 |
Premises and equipment expenditures | (8,499,000) | (13,159,000) |
Net cash used in investing activities | (784,016,000) | (838,988,000) |
Cash flows from financing activities | ||
Net proceeds from issuance of preferred stock | 0 | 48,325,000 |
Net proceeds from exercise of stock options | 140,000 | 33,000 |
Net increase in demand, money market and savings deposits | 947,213,000 | 926,726,000 |
Net increase (decrease) in time deposits | 11,117,000 | (20,283,000) |
Net (repayment) increase in other borrowings | (633,866,000) | 646,267,000 |
Preferred stock dividends paid | (2,625,000) | 0 |
Net cash provided by financing activities | 321,979,000 | 1,601,068,000 |
Net increase in cash and cash equivalents | (391,332,000) | 749,842,000 |
Cash and cash equivalents, beginning of year | 775,300,000 | 168,319,000 |
Cash and cash equivalents, end of period | 383,968,000 | 918,161,000 |
Supplemental disclosures | ||
Interest paid | 13,595,000 | 17,238,000 |
Income taxes paid | 8,540,000 | 0 |
Addition to other real estate owned | $ 168,000 | $ 0 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Deferred Compensation, Share-based Payments [Member] | AOCI Attributable to Parent [Member] | Total | ||
Balance at Dec. 31, 2019 | $ 0 | $ 594 | $ 272,039 | $ (12,216) | $ (3,725) | $ (183) | $ (7,341) | [1] | $ 249,168 | |
Net income (loss) | 953 | 953 | ||||||||
Other comprehensive income (loss), net of tax | 2,921 | [1] | 2,921 | |||||||
Stock based compensation | 1,538 | 1,538 | ||||||||
Options exercised | 33 | 33 | ||||||||
Proceeds from shares issued under preferred stock offering | 20 | 48,305 | 48,325 | |||||||
Balance at Sep. 30, 2020 | 20 | 594 | 321,915 | (11,263) | (3,725) | (183) | (4,420) | [1] | 302,938 | |
Balance at Dec. 31, 2019 | 0 | 594 | 272,039 | (12,216) | (3,725) | (183) | (7,341) | [1] | 249,168 | |
Other comprehensive income (loss), net of tax | [1] | 4,512 | ||||||||
Balance at Dec. 31, 2020 | 20 | 594 | 322,321 | (8,085) | (3,725) | (183) | (2,829) | [1] | 308,113 | |
Balance at Jun. 30, 2020 | 0 | 594 | 273,118 | (10,297) | (3,725) | (183) | (4,329) | 255,178 | ||
Net income (loss) | (966) | (966) | ||||||||
Other comprehensive income (loss), net of tax | (91) | (91) | ||||||||
Stock based compensation | 482 | 482 | ||||||||
Options exercised | 10 | 10 | ||||||||
Proceeds from shares issued under preferred stock offering | 20 | 48,305 | 48,325 | |||||||
Balance at Sep. 30, 2020 | 20 | 594 | 321,915 | (11,263) | (3,725) | (183) | (4,420) | [1] | 302,938 | |
Balance at Dec. 31, 2020 | 20 | 594 | 322,321 | (8,085) | (3,725) | (183) | (2,829) | [1] | 308,113 | |
Net income (loss) | 19,098 | 19,098 | ||||||||
Preferred stock dividends paid | [2] | (2,625) | (2,625) | |||||||
Other comprehensive income (loss), net of tax | (2,775) | [1] | (2,775) | |||||||
Stock based compensation | 1,562 | 1,562 | ||||||||
Options exercised | 140 | 140 | ||||||||
Balance at Sep. 30, 2021 | 20 | 594 | 324,023 | 8,388 | (3,725) | (183) | (5,604) | [1] | 323,513 | |
Balance at Jun. 30, 2021 | 20 | 594 | 323,442 | 3,167 | (3,725) | (183) | (2,874) | 320,441 | ||
Net income (loss) | 6,096 | 6,096 | ||||||||
Preferred stock dividends paid | [3] | (875) | (875) | |||||||
Other comprehensive income (loss), net of tax | (2,730) | (2,730) | ||||||||
Stock based compensation | 532 | 532 | ||||||||
Options exercised | 49 | 49 | ||||||||
Balance at Sep. 30, 2021 | $ 20 | $ 594 | $ 324,023 | $ 8,388 | $ (3,725) | $ (183) | $ (5,604) | [1] | $ 323,513 | |
[1] | All amounts are net of tax. Amounts in parentheses indicate reductions to other comprehensive income. | |||||||||
[2] | Dividends per share of $1.32 were declared and paid on preferred stock for the nine months ended September 30, 2021 | |||||||||
[3] | Dividends per share of $0.44 were declared and paid on preferred stock for the three months ended September 30, 2021 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Preferred stock dividends per share (in dollars per share) | $ 0.44 | $ 1.32 | ||
Options exercised (in shares) | 28,000 | 5,000 | 54,375 | 13,000 |
Shares issued (in shares) | 2,000,000 | 2,000,000 | ||
Offering costs | $ 1,675 | $ 1,675 | ||
Options exercised (in shares) | 28,000 | 5,000 | 54,375 | 13,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1: Republic First Bancorp, Inc. (the “Company”) is a one 2016, 2018, The Company and Republic encounter vigorous competition for market share in the geographic areas they serve from bank holding companies, national, regional and other community banks, thrift institutions, credit unions and other non-bank financial organizations, such as mutual fund companies, insurance companies and brokerage companies. The Company and Republic are subject to federal and state regulations governing virtually all aspects of their activities, including but not The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Republic. The Company follows accounting standards set by the Financial Accounting Standards Board (“FASB”). The FASB sets accounting principles generally accepted in the United States of America (“US GAAP”) that are followed to ensure consistent reporting of financial condition, results of operations, and cash flows. All material inter-company transactions have been eliminated. Events occurring subsequent to the date of the balance sheet have been evaluated for potential recognition or disclosure in the consolidated financial statements. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and with the instructions to United States Securities and Exchange Commission (“SEC”) Form 10 10 X. not nine September 30, 2021 not may December 31, 2021. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2: Risks and Uncertainties The earnings of the Company depend primarily on the earnings of Republic. The earnings of Republic are heavily dependent upon the level of net interest income, which is the difference between interest earned on its interest-earning assets, such as loans and investments, and the interest paid on its interest-bearing liabilities, such as deposits and borrowings. Accordingly, the Company’s results of operations are subject to risks and uncertainties surrounding Republic’s exposure to changes in the interest rate environment. Prepayments on residential real estate mortgage and other fixed rate loans and mortgage-backed securities vary significantly and may The coronavirus (“COVID- 19” 150 0.00% 0.25% March 2020. 19 The economic downturn that began in the U.S. as a result of the government-mandated business closures and stay-at-home orders significantly impacted the labor market, consumer spending, business investment and profitability. As a result, the President signed into law the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which was the largest economic stimulus package in the nation’s history in an effort to lessen the impact of COVID- 19 December 2020, The preparation of financial statements in conformity with U.S. GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates are made by management in determining the allowance for credit losses, carrying values of other real estate owned, assessment of other than temporary impairment (“OTTI”) of investment securities, fair value of financial instruments, and the realization of deferred income tax assets. Consideration is given to a variety of factors in establishing these estimates. Mortgage Banking Activities and Mortgage Loans Held for Sale Mortgage loans held for sale are originated and held until sold to permanent investors. Management elected to adopt the fair value option in accordance with FASB Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Mortgage loans held for sale originated on or subsequent to the election of the fair value option, are recorded on the balance sheet at fair value. The fair value is determined on a recurring basis by utilizing quoted prices from dealers in such securities. Changes in fair value are reflected in mortgage banking income in the statements of income. Direct loan origination costs are recognized when incurred and are included in non-interest expense in the statements of income. Interest Rate Lock Commitments ( IRLCs ) Mortgage loan commitments known as interest rate locks that relate to the origination of a mortgage that will be held for sale upon funding are considered derivative instruments under the derivatives and hedging accounting guidance FASB ASC 815, Derivatives and Hedging 30 90 not not 12 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates are made by management in determining the allowance for loan losses, carrying values of other real estate owned, assessment of other than temporary impairment (“OTTI”) of investment securities, fair value of financial instruments, and the realization of deferred income tax assets. Consideration is given to a variety of factors in establishing these estimates. In estimating the allowance for loan losses, management considers current economic conditions, past loss experience, diversification of the loan portfolio, delinquency statistics, results of internal loan reviews and regulatory examinations, borrowers’ perceived financial and managerial strengths, the adequacy of underlying collateral, if collateral dependent, or present value of future cash flows, and other relevant and qualitative risk factors. Subsequent to foreclosure, an estimate for the carrying value of other real estate owned is normally determined through valuations that are periodically performed by management and the assets are carried at the lower of carrying amount or fair value, less the cost to sell. Because the allowance for loan losses and carrying value of other real estate owned are dependent, to a great extent, on the general economy and other conditions that may In estimating OTTI of investment securities, securities are evaluated on at least a quarterly basis and more frequently when market conditions warrant such an evaluation, to determine whether a decline in their value is other-than-temporary. To determine whether a loss in value is other-than-temporary, management utilizes criteria such as the reasons underlying the decline, the magnitude and duration of the decline, the intent to hold the security and the likelihood of the Company not not not In evaluating the Company’s ability to recover deferred tax assets, management considers all available positive and negative evidence, including the past operating results and forecasts of future taxable income. In determining future taxable income, management makes assumptions for the amount of taxable income, the reversal of temporary differences and the implementation of feasible and prudent tax planning strategies. These assumptions require management to make judgments about the future taxable income and are consistent with the plans and estimates used to manage the business. A material reduction in estimated future taxable income may Stock-Based Compensation The Company has a Stock Option and Restricted Stock Plan (“the 2005 2005 November 14, 1995 2005 2005 2005 1.5 June 30, 2021, 2005 2005 2005 one four 2005 November 14, 2015 On April 29, 2014 2014 “2014 may 2014 no may not September 30, 2021, 2014 nine September 30, 2021, 2014 On April 27, 2021 2021 “2021 may 2021 may September 30, 2021, 2021 The Company utilizes the Black-Scholes option pricing model to calculate the estimated fair value of each stock option granted on the date of the grant. During the nine September 30, 2021 2020, September 30, 2021, September 30, 2020, nine September 30, 2021, nine September 30, 2020, Information regarding stock based compensation for the nine September 30, 2021 2020 2021 2020 Stock based compensation expense recognized $ 1,133,000 $ 1,538,000 Number of unvested stock options 1,754,089 2,609,200 Fair value of unvested stock options $ 2,918,535 $ 4,915,841 Amount remaining to be recognized as expense $ 1,493,293 $ 3,121,499 The remaining unrecognized expense amount of $1,493,293 will be recognized ratably as expense through December 2024. The Company granted stock units under the 2014 nine September 30, 2021. The following table details the Stock Units for the three nine September 30, 2021: Three Months Ended Nine Months Ended Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Beginning balance 524,863 $ 3.35 - $ - Granted 2,500 3.45 532,513 3.35 Vested - - - - Forfeited (3,300 ) 3.34 (8,450 ) 3.34 Ending balance 524,063 $ 3.35 524,063 $ 3.35 Information regarding stock unit compensation for the nine September 30, 2021 2020 2021 2020 Stock based compensation expense recognized $ 428,756 - Number of unvested stock units 524,063 - Fair value of unvested stock units $ 1,783,518 - Amount remaining to be recognized as expense $ 1,354,762 - The remaining unrecognized expense amount of $1,354,762 will be recognized ratably as expense through August 2025. Earnings per Share Earnings per share (“EPS”) consists of two nine September 30, 2021 September 30, 2020. The calculation of EPS for the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net income (loss) attributable to basic common shareholders $ 5,221 $ (966 ) $ 16,473 $ 953 Weighted average shares outstanding 58,895 58,853 58,877 58,851 Basic earnings per common share $ 0.09 $ (0.02 ) $ 0.28 $ 0.02 Preferred stock dividends $ 875 $ - $ 2,625 $ - Net income (loss) attributable to diluted common shareholders $ 6,096 (966 ) $ 19,098 953 Weighted average shares outstanding (including dilutive CSEs) 75,876 58,853 75,946 60,751 Diluted earnings per common share $ 0.08 $ (0.02 ) $ 0.25 $ 0.02 The following is a summary of securities that could potentially dilute basic earnings per common share in future periods. These securities were not (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive securities Share based compensation awards 5,771 5,994 5,683 5,945 Convertible preferred stock - - - - Total anti-dilutive securities 5,771 5,994 5,683 5,945 Recent Accounting Pronouncements ASU 2016 13 In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 January 1, 2020. 4014 19 December 31, 2020. December 2020 January 1, 2021 January 1, 2022. January 1, 2022. not ASU 2020 04 In March 2020, 2020 04, Reference Rate Reform (Topic 848 March 12, 2020 January 1, 2020 December 31, 2022. one December 31, 2022. no ASU 2021 01 In January 2021, 2021 01, Reference Rate Reform (Topic 848 848 March 12, 2020 January 1, 2020 December 31, 2022. one December 31, 2022. no |
Note 3 - Commitments and Contin
Note 3 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 3: The Company and Republic are from time to time a party (plaintiff or defendant) to lawsuits that are in the normal course of business. While any litigation involves an element of uncertainty, management is of the opinion that the liability of the Company and Republic, if any, resulting from such actions will not |
Note 4 - Segment Reporting
Note 4 - Segment Reporting | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 4: The Company has one reportable segment: community banking. The community banking segment primarily encompasses the commercial loan and deposit activities of Republic, as well as, residential mortgage and consumer loan products in the area surrounding its stores. Mortgage loans in Delaware and Florida are primarily made to local customers that have second not |
Note 5 - Investment Securities
Note 5 - Investment Securities | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 5: A summary of the amortized cost and market value of securities available for sale, securities held to maturity, and equity securities at September 30, 2021 December 31, 2020 At September 30, 2021 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale U.S. Government agencies $ 27,508 $ 803 $ (1,285 ) $ 27,026 Collateralized mortgage obligations 312,328 1,988 (3,396 ) 310,920 Agency mortgage-backed securities 359,817 539 (3,256 ) 357,100 Municipal securities 7,858 337 - 8,195 Corporate bonds 177,380 920 (1,047 ) 177,253 Investment securities available for sale $ 884,891 $ 4,587 $ (8,984 ) $ 880,494 Held to maturity U.S. Government agencies $ 70,349 $ 2,470 $ - $ 72,819 Collateralized mortgage obligations 401,750 6,793 (8,133 ) 400,410 Agency mortgage-backed securities 905,154 3,030 (8,230 ) 899,954 Investment securities held to maturity $ 1,377,253 $ 12,293 $ (16,363 ) $ 1,373,183 Equity securities $ 9,231 ( 1 Equity securities consist of investments in non-cumulative preferred stock. At December 31, 2020 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale U.S. Government agencies $ 32,312 $ - $ (426 ) $ 31,886 Collateralized mortgage obligations 218,232 3,584 (270 ) 221,546 Agency mortgage-backed securities 149,325 1,204 (1 ) 150,528 Municipal securities 8,201 24 - 8,225 Corporate bonds 119,118 595 (3,390 ) 116,323 Investment securities available for sale $ 527,188 $ 5,407 $ (4,087 ) $ 528,508 Held to maturity U.S. Government agencies $ 82,093 $ 4,185 $ - $ 86,278 Collateralized mortgage obligations 363,363 12,687 (231 ) 375,819 Agency mortgage-backed securities 369,480 5,640 (245 ) 374,875 Investment securities held to maturity $ 814,936 $ 22,512 $ (476 ) $ 836,972 Equity securities $ 9,039 ( 1 Equity securities consist of investments in non-cumulative preferred stock. The following table presents investment securities by stated maturity at September 30, 2021. no Available for Sale Held to Maturity (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 10,290 $ 10,285 $ 4 $ 4 After 1 year to 5 years 79,331 80,205 70,345 72,815 After 5 years to 10 years 52,030 52,089 - - After 10 years 71,095 69,895 - - Collateralized mortgage obligations 312,328 310,920 401,750 400,410 Agency mortgage-backed securities 359,817 357,100 905,154 899,954 Total $ 884,891 $ 880,494 $ 1,377,253 $ 1,373,183 The Company’s investment securities portfolio consists primarily of debt securities issued by U.S. government agencies, U.S. government-sponsored agencies, state governments, local municipalities and certain corporate entities. Equity securities consist of investments in non-cumulative preferred stock. There were no September 30, 2021 December 31, 2020. no The fair value of investment securities is impacted by interest rates, credit spreads, market volatility and liquidity conditions. Net unrealized gains and losses in the available for sale portfolio are included in shareholders’ equity as a component of accumulated other comprehensive income or loss, net of tax. Securities classified as held to maturity are carried at amortized cost. An unrealized loss exists when the current fair value of an individual security is less than the amortized cost basis. The Company regularly evaluates investment securities that are in an unrealized loss position in order to determine if the decline in fair value is other than temporary. Factors considered in the evaluation include the current economic climate, the length of time and the extent to which the fair value has been below cost, the current interest rate environment and the rating of each security. An OTTI loss must be recognized for a debt security in an unrealized loss position if the Company intends to sell the security or it is more likely than not no September 30, 2021 December 31, 2020. The following tables show the fair value and gross unrealized losses associated with the investment portfolio, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2021 December 31, 2020: At September 30, 2021 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ 67,292 $ 802 $ 27,026 $ 483 $ 94,318 $ 1,285 Collateralized mortgage obligations 176,855 3,396 - - 176,855 3,396 Agency mortgage-backed securities 187,061 3,256 - - 187,061 3,256 Municipal securities - - - - - - Corporate bonds 33,576 24 33,462 1,023 67,038 1,047 Investment Securities Available for Sale $ 464,784 $ 7,478 $ 60,488 $ 1,506 $ 525,272 $ 8,984 At September 30, 2021 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations 256,326 8,132 383 1 256,709 8,133 Agency mortgage-backed securities 660,106 8,230 - - 660,106 8,230 Investment Securities Held to Maturity $ 916,432 $ 16,362 $ 383 $ 1 $ 916,815 $ 16,363 At December 31, 2020 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ - $ - $ 31,886 $ 426 $ 31,886 $ 426 Collateralized mortgage obligations 99,497 270 - - 99,497 270 Agency mortgage-backed securities 20,934 1 - - 20,934 1 Municipal securities - - - - - - Corporate bonds 4,559 39 54,649 3,351 59,208 3,390 Investment Securities Available for Sale $ 124,990 $ 310 $ 86,535 $ 3,777 $ 211,525 $ 4,087 At December 31, 2020 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations 62,603 231 - - 62,603 231 Agency mortgage-backed securities 54,537 245 - - 54,537 245 Investment Securities Held to Maturity $ 117,140 $ 476 $ - $ - $ 117,140 $ 476 Unrealized losses on securities in the investment portfolio amounted to $25.3 million with a total fair value of $1.4 billion as of September 30, 2021 December 31, 2020. not not The Company held seven twenty-seven thirty-seven September 30, 2021. no September 30, 2021. All municipal securities held in the investment portfolio are reviewed on least a quarterly basis for impairment. Each bond carries an investment grade rating by either Moody’s or Standard & Poor’s. In addition, the Company periodically conducts its own independent review on each issuer to ensure the financial stability of the municipal entity. The largest geographic concentration was in Pennsylvania and New Jersey and consisted of either general obligation or revenue bonds backed by the taxing power of the issuing municipality. At September 30, 2021, no At September 30, 2021, nine not four nine There were no proceeds from the sale of securities during the three nine September 30, 2021. three September 30, 2020 three September 30, 2020 nine September 30, 2020 nine September 30, 2020 |
Note 6 - Loans Receivable and A
Note 6 - Loans Receivable and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 6: The following table sets forth the Company’s gross loans by major category as of September 30, 2021 December 31, 2020: (dollars in thousands) September 30, 2021 December 31, 2020 Commercial real estate $ 775,168 $ 705,748 Construction and land development 153,132 142,821 Commercial and industrial 250,650 200,188 Owner occupied real estate 496,301 475,206 Consumer and other 87,208 102,368 Residential mortgage 496,963 395,174 Paycheck protection program 248,610 636,637 Total loans receivable 2,508,032 2,658,142 Deferred fees (net) (11,018 ) (12,800 ) Allowance for loan losses (17,218 ) (12,975 ) Net loans receivable $ 2,479,796 $ 2,632,367 The Company disaggregates its loan portfolio into groups of loans with similar risk characteristics for purposes of estimating the allowance for loan losses. The Company’s loan groups include commercial real estate, construction and land development, commercial and industrial, owner occupied real estate, consumer, residential mortgages, and PPP loans. PPP loans are fully guaranteed by the U.S. Government and as such have no The following tables provide the activity in and ending balances of the allowance for loan losses by loan portfolio class at and for the three September 30, 2021 2020: (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Paycheck Protection Program Unallocated Total Three months ended September 30, 2021 Allowance for loan losses: Beginning balance: $ 5,919 $ 1,133 $ 1,503 $ 2,440 $ 717 $ 4,270 $ - $ 128 $ 16,110 Charge-offs - - - - (1 ) - - - (1 ) Recoveries - - 12 48 149 - - - 209 Provisions (credits) 265 (43 ) 181 420 (213 ) 282 - 8 900 Ending balance $ 6,184 $ 1,090 $ 1,696 $ 2,908 $ 652 $ 4,552 $ - $ 136 $ 17,218 Three months ended September 30, 2020 Allowance for loan losses: Beginning balance: $ 3,732 $ 952 $ 1,431 $ 1,995 $ 675 $ 2,255 $ - $ - $ 11,040 Charge-offs - - (33 ) - (2 ) (17 ) - - (52 ) Recoveries - - 11 - 2 - - - 13 Provisions (credits) 235 112 74 (8 ) 6 429 - 2 850 Ending balance $ 3,967 $ 1,064 $ 1,483 $ 1,987 $ 681 $ 2,667 $ - $ 2 $ 11,851 The following tables provide the activity in and ending balances of the allowance for loan losses by loan portfolio class at and for the nine September 30, 2021 2020: (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Paycheck Protection Program Unallocated Total Nine months ended September 30, 2021 Allowance for loan losses: Beginning balance: $ 4,394 $ 948 $ 1,367 $ 2,374 $ 723 $ 3,025 $ - $ 144 $ 12,975 Charge-offs - - (60 ) - (48 ) - - - (108 ) Recoveries - - 162 88 201 - - - 451 Provisions (credits) 1,790 142 227 446 (224 ) 1,527 - (8 ) 3,900 Ending balance $ 6,184 $ 1,090 $ 1,696 $ 2,908 $ 652 $ 4,552 $ - $ 136 $ 17,218 Nine months ended September 30, 2020 Allowance for loan losses: Beginning balance: $ 3,043 $ 688 $ 931 $ 2,292 $ 590 $ 1,705 $ - $ 17 $ 9,266 Charge-offs - - (84 ) (48 ) (67 ) (67 ) - - (266 ) Recoveries - 2 38 1 10 - - - 51 Provisions (credits) 924 374 598 (258 ) 148 1,029 - (15 ) 2,800 Ending balance $ 3,967 $ 1,064 $ 1,483 $ 1,987 $ 681 $ 2,667 $ - $ 2 $ 11,851 The following tables provide a summary of the allowance for loan losses and balance of loans receivable by loan class and by impairment method as of September 30, 2021 December 31, 2020: (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Paycheck Protection Program Unallocated Total September 30, 2021 Allowance for loan losses: Individually evaluated for impairment $ 1,401 $ - $ 53 $ 481 $ - $ - $ - $ - $ 1,935 Collectively evaluated for impairment 4,783 1,090 1,643 2,427 652 4,552 - 136 15,283 Total allowance for loan losses $ 6,184 $ 1,090 $ 1,696 $ 2,908 $ 652 $ 4,552 $ - $ 136 $ 17,218 Loans receivable: Loans evaluated individually $ 4,931 $ - $ 2,558 $ 9,651 $ 1,154 $ 1,682 $ 10 $ - $ 19,986 Loans evaluated collectively 770,237 153,132 248,092 486,650 86,054 495,281 248,600 - 2,488,046 Total loans receivable $ 775,168 $ 153,132 $ 250,650 $ 496,301 $ 87,208 $ 496,963 $ 248,610 $ - $ 2,508,032 (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Paycheck Protection Program Unallocated Total December 31, 2020 Allowance for loan losses: Individually evaluated for impairment $ 418 $ - $ 51 $ 122 $ - $ - $ - $ - $ 591 Collectively evaluated for impairment 3,976 948 1,316 2,252 723 3,025 - 144 12,384 Total allowance for loan losses $ 4,394 $ 948 $ 1,367 $ 2,374 $ 723 $ 3,025 $ - $ 144 $ 12,975 Loans receivable: Loans evaluated individually $ 9,048 $ 2,963 $ 3,955 $ 1,302 $ 701 $ - $ - $ 17,969 Loans evaluated collectively 696,700 142,821 197,225 471,251 101,066 394,473 636,637 - 2,640,173 Total loans receivable $ 705,748 $ 142,821 $ 200,188 $ 475,206 $ 102,368 $ 395,174 $ 636,637 $ - $ 2,658,142 A loan is considered impaired, when based on current information and events, it is probable that the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming loans, but also include internally classified accruing loans. The following table summarizes information with regard to impaired loans by loan portfolio class as of September 30, 2021 December 31, 2020: September 30, 2021 December 31, 2020 ( dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related With no related allowance recorded: Commercial real estate $ 344 $ 351 $ - $ 5,033 $ 5,040 $ - Construction and land development - - - - - - Commercial and industrial 2,295 2,296 - 2,608 2,794 - Owner occupied real estate 6,528 6,676 - 3,198 3,407 - Consumer and other 1,154 1,419 - 1,302 1,556 - Residential mortgage 1,682 1,749 - 701 768 - Paycheck protection program 10 10 - - - - Total $ 12,013 $ 12,501 $ - $ 12,842 $ 13,565 $ - With an allowance recorded: Commercial real estate $ 4,587 $ 5,108 $ 1,401 $ 4,015 $ 4,536 $ 418 Construction and land development - - - - - - Commercial and industrial 263 402 53 355 371 51 Owner occupied real estate 3,123 3,142 481 757 775 122 Consumer and other - - - - - - Residential mortgage - - - - - - Paycheck protection program - - - - - - Total $ 7,973 $ 8,652 $ 1,935 $ 5,127 $ 5,682 $ 591 Total: Commercial real estate $ 4,931 5,459 1,401 9,048 9,576 418 Construction and land development - - - - - - Commercial and industrial 2,558 2,698 53 2,963 3,165 51 Owner occupied real estate 9,651 9,818 481 3,955 4,182 122 Consumer and other 1,154 1,419 - 1,302 1,556 - Residential mortgage 1,682 1,749 - 701 768 - Paycheck protection program 10 10 - - - - Total $ 19,986 $ 21,153 $ 1,935 $ 17,969 $ 19,247 $ 591 The following table presents additional information regarding the Company’s impaired loans for the three September 30, 2021 September 30, 2020: Three Months Ended September 30, 2021 2020 (dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 440 $ 2 $ 6,534 $ 69 Construction and land development - - - - Commercial and industrial 2,298 - 2,615 - Owner occupied real estate 3,387 52 3,491 13 Consumer and other 1,204 14 1,114 6 Residential mortgage 830 - 724 - Paycheck protection program 2 - - - Total $ 8,161 $ 68 $ 14,478 $ 88 With an allowance recorded: Commercial real estate $ 4,086 $ 3 $ 4,167 $ - Construction and land development - - - - Commercial and industrial 265 - 37 - Owner occupied real estate 1,105 10 819 1 Consumer and other - - 10 - Residential mortgage - - - - Paycheck protection program - - - - Total $ 5,456 $ 13 $ 5,033 $ 1 Total: Commercial real estate $ 4,526 $ 5 $ 10,701 $ 69 Construction and land development - - - - Commercial and industrial 2,563 - 2,652 - Owner occupied real estate 4,492 62 4,310 14 Consumer and other 1,204 14 1,124 6 Residential mortgage 830 - 724 - Paycheck protection program 2 - - - Total $ 13,617 $ 81 $ 19,511 $ 89 The following table presents additional information regarding the Company’s impaired loans for the nine September 30, 2021 September 30, 2020: Nine Months Ended September 30, 2021 2020 (dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 385 $ 2 $ 6,484 $ 207 Construction and land development - - - - Commercial and industrial 2,297 - 2,607 1 Owner occupied real estate 3,892 73 3,051 21 Consumer and other 1,227 14 1,156 13 Residential mortgage 946 - 768 1 Paycheck protection program 3 - - - Total $ 8,750 $ 89 $ 14,066 $ 243 With an allowance recorded: Commercial real estate $ 4,158 $ 6 $ 4,153 $ - Construction and land development - - - - Commercial and industrial 263 - 479 - Owner occupied real estate 1,140 20 1,273 17 Consumer and other - - - - Residential mortgage - - 30 1 Paycheck protection program - - - - Total $ 5,561 $ 26 $ 5,935 $ 18 Total: Commercial real estate $ 4,543 $ 8 $ 10,637 $ 207 Construction and land development - - - - Commercial and industrial 2,560 - 3,086 1 Owner occupied real estate 5,032 93 4,324 38 Consumer and other 1,227 14 1,156 13 Residential mortgage 946 - 798 2 Paycheck protection program 3 - - - Total $ 14,311 $ 115 $ 20,001 $ 261 The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past due status as of September 30, 2021 December 31, 2020: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing At September 30, 2021 Commercial real estate $ - $ - $ 4,303 $ 4,303 $ 770,865 $ 775,168 $ - Construction and land development - - - - 153,132 153,132 - Commercial and industrial - - 2,558 2,558 248,092 250,650 - Owner occupied real estate - 4,461 3,169 7,630 488,671 496,301 - Consumer and other 21 - 1,167 1,188 86,020 87,208 13 Residential mortgage - - 1,738 1,738 495,225 496,963 - Paycheck protection program - 43 10 53 248,557 248,610 - Total $ 21 $ 4,504 $ 12,945 $ 17,470 $ 2,490,562 $ 2,508,032 $ 13 (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Total Past Due Current Total Loans Receivable Loans At December 31, 2020 Commercial real estate $ - $ 97 $ 4,421 $ 4,518 $ 701,230 $ 705,748 $ - Construction and land development - - - - 142,821 142,821 - Commercial and industrial 1,648 - 2,963 4,611 195,577 200,188 - Owner occupied real estate 581 813 2,859 4,253 470,953 475,206 - Consumer and other 92 28 1,302 1,422 100,946 102,368 - Residential mortgage - - 1,313 1,313 393,861 395,174 612 Paycheck protection program - - - - 636,637 636,637 - Total $ 2,321 $ 938 $ 12,858 $ 16,117 $ 2,642,025 $ 2,658,142 $ 612 The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system as of September 30, 2021 December 31, 2020: (dollars in thousands) Pass Special Mention Substandard Doubtful Total At September 30, 2021: Commercial real estate $ 770,242 $ - $ 4,926 $ - $ 775,168 Construction and land development 153,132 - - - 153,132 Commercial and industrial 248,092 - 2,558 - 250,650 Owner occupied real estate 486,457 238 9,606 - 496,301 Consumer and other 86,054 - 1,154 - 87,208 Residential mortgage 495,281 - 1,682 - 496,963 Paycheck protection program 248,600 - 10 - 248,610 Total $ 2,487,858 $ 238 $ 19,936 $ - $ 2,508,032 (dollars in thousands) Pass Special Mention Substandard Doubtful Total At December 31, 2020: Commercial real estate $ 701,151 $ 80 $ 4,517 $ - $ 705,748 Construction and land development 142,821 - - - 142,821 Commercial and industrial 197,225 - 2,963 - 200,188 Owner occupied real estate 470,732 519 3,955 - 475,206 Consumer and other 101,066 - 1,302 - 102,368 Residential mortgage 394,473 - 701 - 395,174 Paycheck protection program 636,637 - - - 636,637 Total $ 2,644,105 $ 599 $ 13,438 $ - $ 2,658,142 The following table shows non-accrual loans by class as of September 30, 2021 December 31, 2020: (dollars in thousands) September 30, 2021 December 31, 2020 Commercial real estate $ 4,303 $ 4,421 Construction and land development - - Commercial and industrial 2,558 2,963 Owner occupied real estate 3,169 2,859 Consumer and other 1,154 1,302 Residential mortgage 1,738 701 Paycheck protection program 10 - Total $ 12,932 $ 12,246 If these loans were performing under their original contractual rate, interest income on such loans would have increased approximately $190,075 and $546,451 for the three nine September 30, 2021, three nine September 30, 2020, Troubled Debt Restructurings A modification to the contractual terms of a loan which results in a concession to a borrower that is experiencing financial difficulty is classified as a troubled debt restructuring (“TDR”). The concessions made in a TDR are those that would not may Pursuant to the CARES Act, loan modifications made between March 1, 2020 December 30, 2020 60 19 not not 30 December 31, 2019. December 2020, January 1, 2022 60 19 September 30, 2021, no December 31, 2020, twenty-one December 31, 2020, 90 eight second thirteen The following table summarizes information with regard to outstanding troubled debt restructurings at September 30, 2021 December 31, 2020: (dollars in thousands) Number of Loans Accrual Status Non- Accrual Status Total TDRs September 30, 2021 Commercial real estate - $ - $ - $ - Construction and land development - - - - Commercial and industrial - - - - Owner occupied real estate - - - - Consumer and other - - - - Residential mortgage - - - - Paycheck protection program - - - - Total - $ - $ - $ - December 31, 2020 Commercial real estate 1 $ 4,530 $ - $ 4,530 Construction and land development - - - - Commercial and industrial - - - - Owner occupied real estate - - - - Consumer and other - - - - Residential mortgage - - - - Paycheck protection program - - - - Total 1 $ 4,530 $ - $ 4,530 All TDRs are considered impaired and are therefore individually evaluated for impairment in the calculation of the allowance for loan losses. Some TDRs may not There were no loan modifications made during the three nine September 30, 2021 2020 After a loan is determined to be a TDR, the Company continues to track its performance under the most recent restructured terms. There were no TDRs that subsequently defaulted during the three nine September 30, 2021. December 31, 2020. December 31, 2020 second 2021. There was one September 30, 2021 December 31, 2020. no September 30, 2021 December 31, 2020. |
Note 7 - Other Borrowings
Note 7 - Other Borrowings | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 7: The following is a summary of other borrowings by type. September 30, 2021 December 31, 2020 (dollars in thousands) Balance at End of Period Weighted Average Interest Rate at End of Period Balance at End of Period Weighted Average Interest Rate at End of Period Other borrowings Paycheck Protection Program Liquidity Facility borrowings $ - - $ 633,866 0.35 % As part of the CARES Act, the Federal Reserve Bank of Philadelphia offered secured discounted borrowings to banks that originated PPP loans through the Paycheck Protection Program Liquidity Facility or PPPLF program. The Company did not September 30, 2021 July 30, 2021. December 31, 2020. |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 8: Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not not may The Company follows the guidance issued under ASC 820, Fair Value Measurement, ASC 820 1 3 three 820 Level 1 Level 2 not Level 3 no An asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2021 December 31, 2020 (dollars in thousands) Total (Level 1) Quoted Prices in Active Markets for Identical Assets (Level 2) Significant Other Observable Inputs (Level 3) Significant Unobservable Inputs September 30, 2021 Assets: U.S. Government agencies $ 27,026 $ - $ 27,026 $ - Collateralized mortgage obligations 310,920 - 310,920 - Agency mortgage-backed securities 357,100 - 357,100 - Municipal securities 8,195 - 8,195 - Corporate bonds 177,253 - 174,650 2,603 Investment securities available for sale $ 880,494 $ 877,891 $ 2,603 Equity securities 9,231 9,231 - - Mortgage Loans Held for Sale $ 12,082 $ - $ 12,082 $ - SBA Servicing Assets 4,572 - - 4,572 Interest Rate Lock Commitments 593 - 593 - Best Efforts Forward Loan Sales Commitments 67 - 67 - Mandatory Forward Loan Sales Commitments 43 - 43 - Liabilities: Interest Rate Lock Commitments - - - - Best Efforts Forward Loan Sales Commitments 109 - 109 - Mandatory Forward Loan Sales Commitments 33 - 33 - December 31, 2020 Assets: U.S. Government agencies $ 31,886 $ - $ 31,886 $ - Collateralized mortgage obligations 221,546 - 221,546 - Agency mortgage-backed securities 150,528 - 150,528 - Municipal securities 8,225 - 8,225 - Corporate bonds 116,323 - 113,692 2,631 Investment securities available for sale $ 528,508 $ 525,877 $ 2,631 Equity securities 9,039 9,039 - - Mortgage Loans Held for Sale $ 50,387 $ - $ 50,387 $ - SBA Servicing Assets 4,626 - - 4,626 Interest Rate Lock Commitments 1,580 - 1,580 - Best Efforts Forward Loan Sales Commitments 2 - 2 - Mandatory Forward Loan Sales Commitments - - - - Liabilities: Interest Rate Lock Commitments - - - - Best Efforts Forward Loan Sales Commitments 612 - 612 - Mandatory Forward Loan Sales Commitments 800 - 800 - The following tables present an analysis of the activity in the SBA servicing assets for the three nine September 30, 2021 2020: Three Months Ended September 30, (dollars in thousands) 2021 2020 Beginning balance, July 1 st $ 4,641 $ 4,604 Additions 178 173 Fair value adjustments (247 ) (143 ) Ending balance, September 30 th $ 4,572 $ 4,634 Nine Months Ended September 30, (dollars in thousands) 2021 2020 Beginning balance, January 1 st $ 4,626 $ 4,447 Additions 491 488 Fair value adjustments (545 ) (301 ) Ending balance, September 30 th $ 4,572 $ 4,634 Fair value adjustments are recorded as loan and servicing fees on the statement of income. Servicing fee income, not three September 30, 2021 2020, not nine September 30, 2021 2020, September 30, 2021 December 31, 2020 The following table presents a reconciliation of the securities available for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3 three nine September 30, 2021 2020: Three Months Ended September 30, 2021 2020 Level 3 Investments Only (dollars in thousands) Corporate Bonds Corporate Bonds Balance, July 1 st $ 2,603 $ 2,665 Unrealized gains (losses) - (34 ) Proceeds from sales - - Realized losses - - Balance, September 30 th $ 2,603 $ 2,631 Nine Months Ended September 30, 2021 2020 Level 3 Investments Only (dollars in thousands) Corporate Bonds Corporate Bonds Balance, January 1 st $ 2,631 $ 2,819 Unrealized gains (losses) (28 ) (188 ) Proceeds from sales - - Realized losses - - Balance, September 30 th $ 2,603 $ 2,631 For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2021 December 31, 2020 (dollars in thousands) Total (Level 1) Quoted Prices in Active Markets for Identical Assets (Level 2) Significant Other Observable Inputs (Level 3) Significant Unobservable Inputs September 30, 2021 Impaired loans $ 6,182 $ - $ - $ 6,182 Other real estate owned 168 - - 168 December 31, 2020 Impaired loans $ 5,678 $ - $ - $ 5,678 Other real estate owned 364 - - 364 The table below presents additional quantitative information about level 3 Quantitative Information about Level 3 Fair Value Measurements Asset Description Fair Value Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2021 Corporate bonds $ 2,603 Discounted Cash Flows Discount Rate (3.37%) SBA servicing assets $ 4,572 Discounted Cash Flows Conditional Prepayment Rate Discount Rate (14.50%) (10.00%) Impaired loans $ 6,182 Appraised Value of Collateral (1) Liquidation expenses (2) 10% - 42% (21%) (3) Other real estate owned $ 168 Appraised Value of Collateral (1) Liquidation expenses (2) (6%) (3) December 31, 2020 Corporate bonds $ 2,631 Discounted Cash Flows Discount Rate (3.48%) SBA servicing assets $ 4,626 Discounted Cash Flows Conditional Prepayment Rate Discount Rate (13.22%) (10.00%) Impaired loans $ 5,678 Appraised Value of Collateral (1) Liquidation expenses (2) 0% - 23% (12%) (3) Other real estate owned $ 364 Appraised Value of Collateral (1) Liquidation expenses (2) 7% - 16% (13%) (3) ( 1 Fair value is generally determined through independent appraisals of the underlying collateral, which include Level 3 not ( 2 Appraisals may ( 3 The range and weighted average of qualitative factors such as economic conditions and estimated liquidation expenses are presented as a percent of the appraised value. The significant unobservable inputs for impaired loans and other real estate owned are the appraised value or an agreed upon sales price. These values are adjusted for estimated costs to sell which are incremental direct costs to transact a sale such as broker commissions, legal fees, closing costs and title transfer fees. The costs must be considered essential to the sale and would not not Fair Value Assumptions The following information should not may not September 30, 2021 December 31, 2020. Investment Securities The fair value of investment securities available for sale (carried at fair value) and held to maturity (carried at amortized cost) are determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1 2 not 3 3 3 1 The types of instruments valued based on matrix pricing in active markets include all of the Company’s U.S. government and agency securities, corporate bonds, and municipal obligations held in the investment securities portfolio. Such instruments are generally classified within Level 2 820 10, not Level 3 not may 3 third one 3 The corporate bond included in Level 3 2 2010 not Mortgage Loans Held for Sale (Carried at Fair Value) The fair value of mortgage loans held for sale is determined by obtaining prices at which they could be sold in the principal market at the measurement date and are classified within Level 2 three nine September 30, 2021, three nine September 30, 2020, The following table reflects the difference between the carrying amount of mortgage loans held for sale, measured at fair value and the aggregate unpaid principal amount that Republic is contractually entitled to receive at maturity as of September 30, 2021 December 31, 2020. Carrying Amount Aggregate Unpaid Principal Balance Excess Carrying Amount Over Aggregate Unpaid Principal Balance September 30, 2021 $ 12,082 $ 11,725 $ 357 December 31, 2020 $ 50,387 $ 48,109 $ 2,278 Changes in the excess carrying amount over aggregate unpaid principal balance are recorded in the statement of income in mortgage banking income. Republic did not 90 September 30, 2021 December 31, 2020. Interest Rate Lock Commitments ( IRLC ) The Company determines the value of IRLCs by comparing the market price to the price locked in with the customer, adding fees or points to be collected at closing, subtracting commissions to be paid at closing, and subtracting estimated remaining loan origination costs to the bank based on the processing status of the loan. The Company also considers pull-through as it determines the fair value of IRLCs Factors that affect pull-through rates include the origination channel, current mortgage interest rates in the market versus the interest rate incorporated in the IRLC, the purpose of the mortgage (purchase versus financing), the stage of completion of the underlying application and underwriting process, and the time remaining until the IRLC expires. IRLCs are classified within Level 2 Best Efforts Forward Loan Sales Commitments Best efforts forward loan sales commitments are classified within Level 2 Mandatory Forward Loan Sales Commitments Fair values for mandatory forward loan sales commitments are based on fair values of the underlying mortgage loans and the probability of such commitments being exercised. Due to the observable inputs used by Republic, best efforts mandatory loan sales commitments are classified within Level 2 Impaired Loans (Carried at Lower of Cost or Fair Value) Impaired loans are those that the Company has measured impairment based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third 3 Other Real Estate Owned (Carried at Lower of Cost or Fair Value) These assets are carried at the lower of cost or fair value. Fair value is determined through valuations periodically performed by third September 30, 2021 December 31, 2020, 3 SBA Servicing Asset (Carried at Fair Value) The SBA servicing asset is initially recorded when loans are sold and the servicing rights are retained and recorded on the balance sheet. An updated fair value is obtained from an independent third The Company uses assumptions and estimates in determining the impairment of the SBA servicing asset. These assumptions include prepayment speeds and discount rates commensurate with the risks involved and comparable to assumptions used by participants to value and bid serving rights available for sale in the market. At September 30, 2021 December 31, 2020, (dollars in thousands) September 30, 2021 December 31, 2020 SBA Servicing Asset Fair Value of SBA Servicing Asset $ 4,572 $ 4,626 Composition of SBA Loans Serviced for Others Fixed-rate SBA loans 4 % 2 % Adjustable-rate SBA loans 96 % 98 % Total 100 % 100 % Weighted Average Remaining Term (in years) 19.6 20.0 Prepayment Speed 14.50 % 13.22 % Effect on fair value of a 10% increase $ (175 ) $ (170 ) Effect on fair value of a 20% increase (338 ) (329 ) Weighted Average Discount Rate 10.00 % 10.00 % Effect on fair value of a 10% increase $ (144 ) $ (152 ) Effect on fair value of a 20% increase (279 ) (295 ) The sensitivity calculations above are hypothetical and should not may not one may Off-Balance Sheet Financial Instruments (Disclosed at notional amounts) Fair values for the Company’s off-balance sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The estimated fair values of the Company’s financial instruments at September 30, 2021 Fair Value Measurements at September 30, 2021 (dollars in thousands) Carrying Fair Value Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) Balance Sheet Data Financial assets: Cash and cash equivalents $ 383,968 $ 383,968 $ 383,968 $ - $ - Investment securities available for sale 880,494 880,494 - 877,891 2,603 Investment securities held to maturity 1,377,253 1,373,183 - 1,373,183 - Equity securities 9,231 9,231 9,231 - - Restricted stock 3,510 3,510 - 3,510 - Loans held for sale 16,991 16,991 - 12,082 4,909 Loans receivable, net 2,479,796 2,470,627 - - 2,470,627 SBA servicing assets 4,572 4,572 - - 4,572 Accrued interest receivable 15,080 15,080 - 15,080 - Interest rate lock commitments 593 593 - 593 - Best efforts forward loan sales commitments 67 67 - 67 - Mandatory forward loan sales commitments 43 43 - 43 - Financial liabilities: Deposits Demand, savings and money market $ 4,774,603 $ 4,774,603 $ - $ 4,774,603 $ - Time 197,478 197,702 - 197,702 - Subordinated debt 11,276 8,551 - - 8,551 Other borrowings - - - - - Accrued interest payable 482 482 - 482 - Interest rate lock commitments - - - - - Best efforts forward loan sales commitments 109 109 - 109 - Mandatory forward loan sales commitments 33 33 - 33 - Off-Balance Sheet Data Commitments to extend credit - - - - - Standby letters-of-credit - - - - - The estimated fair values of the Company’s financial instruments at December 31, 2020 Fair Value Measurements at December 31, 2020 (dollars in thousands) Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance Sheet Data Financial assets: Cash and cash equivalents $ 775,300 $ 775,300 $ 775,300 $ - $ - Investment securities available for sale 528,508 528,508 - 525,877 2,631 Investment securities held to maturity 814,936 836,972 - 836,972 - Equity securities 9,039 9,039 9,039 Restricted stock 3,039 3,039 - 3,039 - Loans held for sale 53,370 53,370 - 50,387 2,983 Loans receivable, net 2,632,367 2,618,104 - - 2,618,104 SBA servicing assets 4,626 4,626 - - 4,626 Accrued interest receivable 16,120 16,120 - 16,120 - Interest rate lock commitments 1,580 1,580 - 1,580 - Best efforts forward loan sales commitments 2 2 - 2 - Mandatory forward loan sales commitments - - - - - Financial liabilities: Deposits Demand, savings and money market $ 3,827,390 $ 3,827,390 $ - $ 3,827,390 $ - Time 186,361 187,292 - 187,292 - Subordinated debt 11,271 8,026 - - 8,026 Other borrowings 633,866 633,866 - 633,866 - Accrued interest payable 926 926 - 926 - Interest rate lock commitments - - - - - Best efforts forward loan sales commitments 612 612 - 612 - Mandatory forward loan sales commitments 800 800 - 800 - Off-Balance Sheet Data Commitments to extend credit - - - - - Standby letters-of-credit - - - - - |
Note 9 - Changes in Accumulated
Note 9 - Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 9: 1 The following table presents the changes in accumulated other comprehensive loss by component for the nine September 30, 2021 2020, December 31, 2020. Unrealized Gains (Losses) on Available- For-Sale Securities Unrealized Holding Losses on Securities Transferred From Available-For-Sale To Held-To-Maturity Total (dollars in thousands) Balance January 1, 2021 $ 985 $ (3,814 ) $ (2,829 ) Unrealized loss on securities (4,265 ) - (4,265 ) Amounts reclassified from accumulated other comprehensive income to net income (2) (1 ) 1,491 1,490 Net current-period other comprehensive income (4,266 ) 1,491 (2,775 ) Total change in accumulated other comprehensive income (4,266 ) 1,491 (2,775 ) Balance September 30, 2021 $ (3,281 ) $ (2,323 ) $ (5,604 ) Balance January 1, 2020 $ (1,275 ) $ (6,066 ) $ (7,341 ) Unrealized gain on securities 3,483 - 3,483 Amounts reclassified from accumulated other comprehensive income to net income (2) (2,060 ) 1,498 (562 ) Net current-period other comprehensive income (loss) 1,423 1,498 2,921 Total change in accumulated other comprehensive income (loss) 1,423 1,498 2,921 Balance September 30, 2020 $ 148 $ (4,568 ) $ (4,420 ) Balance January 1, 2020 $ (1,275 ) $ (6,066 ) $ (7,341 ) Unrealized gain on securities 4,320 - 4,320 Amounts reclassified from accumulated other comprehensive income to net income (2) (2,060 ) 2,252 192 Net current-period other comprehensive income (loss) 2,260 2,252 4,512 Total change in accumulated other comprehensive income 2,260 2,252 4,512 Balance December 31, 2020 $ 985 $ (3,814 ) $ (2,829 ) ( 1 All amounts are net of tax. Amounts in parentheses indicate reductions to other comprehensive income. ( 2 Reclassification amounts are reported as gains on sales of investment securities, impairment losses, and amortization of net unrealized losses on the Consolidated Statement of Operations. |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 10 Shareholders Equity On August 26, 2020, 7.00% March 1, June 1, September 1, December 1 three nine September 30, 2021, three December 31, 2020. Holders of shares of Series A Preferred Stock may August 26, 2025, may 125% 20 30 |
Note 11 - Goodwill and Other In
Note 11 - Goodwill and Other Intangibles | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 11: In connection with the review of our financial condition in light of the COVID- 19 2020. September 30, 2020. In July 2016, Three Months Ended September 30, (dollars in thousands) 2021 2020 Balance, July 1st $ - $ 5,011 Additions/Adjustments - - Amortization - - Impairment - (5,011 ) Balance, September 30th $ - $ - Amortization Period (in years) N/A Nine Months Ended September 30, (dollars in thousands) 2021 2020 Balance, January 1st $ - $ 5,011 Additions/Adjustments - - Amortization - - Impairment - (5,011 ) Balance, September 30 th $ - $ - Amortization Period (in years) N/A |
Note 12 - Derivatives and Risk
Note 12 - Derivatives and Risk Management Activities | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 12: Republic did not nine September 30, 2021 September 30, 2020. not September 30, 2021 December 31, 2020 ( September 30, 2021 Balance Sheet Presentation Fair Value Notional Amount Asset derivatives: IRLC’s Other Assets $ 593 $ 27,969 Best efforts forward loan sales commitments Other Assets 67 15,592 Mandatory forward loan sales commitments Other Assets 43 9,128 Liability derivatives: IRLC’s Other Liabilities $ - $ - Best efforts forward loan sales commitments Other Liabilities 109 12,377 Mandatory forward loan sales commitments Other Liabilities 33 2,530 December 31, 2020 Balance Sheet Presentation Fair Value Notional Amount Asset derivatives: IRLC’s Other Assets $ 1,580 $ 48,223 Best efforts forward loan sales commitments Other Assets 2 2,069 Mandatory forward loan sales commitments Other Assets - - Liability derivatives: IRLC’s Other Liabilities $ - $ - Best efforts forward loan sales commitments Other Liabilities 612 46,154 Mandatory forward loan sales commitments Other Liabilities 800 48,373 The following tables summarize the amounts recorded in Republic’s statement of operations for derivative instruments not three nine September 30, 2021 2020 Statement of Operations Presentation Three Months Ended September 30, 2021 Gain/(Loss) Nine Months Ended September 30, 2021 Gain/(Loss) Asset derivatives: IRLCs Mortgage banking income $ (211 ) $ (987 ) Best efforts forward loan sales commitments Mortgage banking income 65 65 Mandatory forward loan sales commitments Mortgage banking income 41 43 Liability derivatives: IRLCs Mortgage banking income $ - $ - Best efforts forward loan sales commitments Mortgage banking income 158 503 Mandatory forward loan sales commitments Mortgage banking income 79 767 Statement of Operations Presentation Three Months Ended September 30, 2020 Gain/(Loss) Nine Months Ended September 30, 2020 Gain/(Loss) Asset derivatives: IRLCs Mortgage banking income $ (191 ) $ 1,089 Best efforts forward loan sales commitments Mortgage banking income (8 ) (4 ) Mandatory forward loan sales commitments Mortgage banking income - (2 ) Liability derivatives: IRLCs Mortgage banking income $ (1 ) $ (1 ) Best efforts forward loan sales commitments Mortgage banking income 100 (421 ) Mandatory forward loan sales commitments Mortgage banking income (199 ) (442 ) The fair value of Republic’s IRLCs, best efforts forward loan sales commitments, and mandatory forward loan sales commitments are based upon the estimated value of the underlying mortgage loan (determined consistent with “Loans Held for Sale”), adjusted for ( 1 2 |
Note 13 - Revenue Recognition
Note 13 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 13: The following table presents non-interest income, segregated by revenue streams that are in-scope and out-of-scope of ASC 606, Revenue from Contracts with Customers three nine September 30, 2021 2020. Three Months Ended September 30, Nine Months Ended September 30, (dollars in thousands) 2021 2020 2021 2020 Non-interest income In-scope of Topic 606 Service charges on deposit accounts $ 3,283 $ 2,134 $ 10,503 $ 6,166 Other non-interest income 50 1,090 624 1,546 Non-interest income (in-scope of Topic 606) 3,333 3,224 11,127 7,712 Non-interest income (out-of-scope of Topic 606) 3,984 6,807 14,145 17,288 Total non-interest income $ 7,317 $ 10,031 $ 25,272 $ 25,000 Contract Balances A contract assets balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s non-interest revenue streams are largely based on transaction activity, or standard month-end revenue accruals. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not not September 30, 2021 December 31, 2020, not Contract Acquisition Costs In connection with the adoption of Topic 606, not not one 606, not |
Note 14 - Leases
Note 14 - Leases | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 14: We have operating lease agreements for certain land, buildings, and equipment. In some instances, a lease may not 842 not At September 30, 2021, forty-four twenty seven seventeen not one forty-four December 2021 August 2059. five ten No September 30, 2021. September 30, 2021, At September 30, 2020, forty-one nineteen seven fifteen not one forty-one December 2020 August 2059, five ten No September 30, 2020. September 30, 2020, The following table presents operating lease costs net of sublease income for the three nine September 30, 2021 2020. Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 (dollars in thousands) Operating lease cost $ 2,142 $ 2,086 $ 6,416 $ 5,920 Sublease income - - - - Total lease cost $ 2,142 $ 2,086 $ 6,416 $ 5,920 The following table presents a maturity analysis of total operating lease liability obligations and reconciliation of the undiscounted cash flows to total operating lease liability obligations at September 30, 2021 2020. September 30, 2021 September 30, 2020 (dollars in thousands) Operating lease payments due: Within one year $ 2,102 $ 6,521 One to three years 15,755 11,804 Three to five years 14,960 10,529 More than five years 85,180 77,596 Total undiscounted cash flows 117,997 106,450 Discount on cash flows (34,614 ) (33,481 ) Total operating lease liability obligations $ 83,383 $ 72,969 The following table presents cash and non-cash activities for the three nine September 30 2021 2020. Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 (dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,097 $ 1,893 $ 6,167 $ 5,432 Non-cash investing and financing activities Additions to Operating leases – right of use asset New operating lease liability obligation $ 52 $ 5,121 $ 8,174 $ 5,310 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Risks and Uncertainties and Certain Significant Estimates [Policy Text Block] | Risks and Uncertainties The earnings of the Company depend primarily on the earnings of Republic. The earnings of Republic are heavily dependent upon the level of net interest income, which is the difference between interest earned on its interest-earning assets, such as loans and investments, and the interest paid on its interest-bearing liabilities, such as deposits and borrowings. Accordingly, the Company’s results of operations are subject to risks and uncertainties surrounding Republic’s exposure to changes in the interest rate environment. Prepayments on residential real estate mortgage and other fixed rate loans and mortgage-backed securities vary significantly and may The coronavirus (“COVID- 19” 150 0.00% 0.25% March 2020. 19 The economic downturn that began in the U.S. as a result of the government-mandated business closures and stay-at-home orders significantly impacted the labor market, consumer spending, business investment and profitability. As a result, the President signed into law the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which was the largest economic stimulus package in the nation’s history in an effort to lessen the impact of COVID- 19 December 2020, The preparation of financial statements in conformity with U.S. GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates are made by management in determining the allowance for credit losses, carrying values of other real estate owned, assessment of other than temporary impairment (“OTTI”) of investment securities, fair value of financial instruments, and the realization of deferred income tax assets. Consideration is given to a variety of factors in establishing these estimates. |
Mortgage Banking Activity [Policy Text Block] | Mortgage Banking Activities and Mortgage Loans Held for Sale Mortgage loans held for sale are originated and held until sold to permanent investors. Management elected to adopt the fair value option in accordance with FASB Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Mortgage loans held for sale originated on or subsequent to the election of the fair value option, are recorded on the balance sheet at fair value. The fair value is determined on a recurring basis by utilizing quoted prices from dealers in such securities. Changes in fair value are reflected in mortgage banking income in the statements of income. Direct loan origination costs are recognized when incurred and are included in non-interest expense in the statements of income. |
Derivatives, Policy [Policy Text Block] | Interest Rate Lock Commitments ( IRLCs ) Mortgage loan commitments known as interest rate locks that relate to the origination of a mortgage that will be held for sale upon funding are considered derivative instruments under the derivatives and hedging accounting guidance FASB ASC 815, Derivatives and Hedging 30 90 not not 12 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates are made by management in determining the allowance for loan losses, carrying values of other real estate owned, assessment of other than temporary impairment (“OTTI”) of investment securities, fair value of financial instruments, and the realization of deferred income tax assets. Consideration is given to a variety of factors in establishing these estimates. In estimating the allowance for loan losses, management considers current economic conditions, past loss experience, diversification of the loan portfolio, delinquency statistics, results of internal loan reviews and regulatory examinations, borrowers’ perceived financial and managerial strengths, the adequacy of underlying collateral, if collateral dependent, or present value of future cash flows, and other relevant and qualitative risk factors. Subsequent to foreclosure, an estimate for the carrying value of other real estate owned is normally determined through valuations that are periodically performed by management and the assets are carried at the lower of carrying amount or fair value, less the cost to sell. Because the allowance for loan losses and carrying value of other real estate owned are dependent, to a great extent, on the general economy and other conditions that may In estimating OTTI of investment securities, securities are evaluated on at least a quarterly basis and more frequently when market conditions warrant such an evaluation, to determine whether a decline in their value is other-than-temporary. To determine whether a loss in value is other-than-temporary, management utilizes criteria such as the reasons underlying the decline, the magnitude and duration of the decline, the intent to hold the security and the likelihood of the Company not not not In evaluating the Company’s ability to recover deferred tax assets, management considers all available positive and negative evidence, including the past operating results and forecasts of future taxable income. In determining future taxable income, management makes assumptions for the amount of taxable income, the reversal of temporary differences and the implementation of feasible and prudent tax planning strategies. These assumptions require management to make judgments about the future taxable income and are consistent with the plans and estimates used to manage the business. A material reduction in estimated future taxable income may |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation The Company has a Stock Option and Restricted Stock Plan (“the 2005 2005 November 14, 1995 2005 2005 2005 1.5 June 30, 2021, 2005 2005 2005 one four 2005 November 14, 2015 On April 29, 2014 2014 “2014 may 2014 no may not September 30, 2021, 2014 nine September 30, 2021, 2014 On April 27, 2021 2021 “2021 may 2021 may September 30, 2021, 2021 The Company utilizes the Black-Scholes option pricing model to calculate the estimated fair value of each stock option granted on the date of the grant. During the nine September 30, 2021 2020, September 30, 2021, September 30, 2020, nine September 30, 2021, nine September 30, 2020, Information regarding stock based compensation for the nine September 30, 2021 2020 2021 2020 Stock based compensation expense recognized $ 1,133,000 $ 1,538,000 Number of unvested stock options 1,754,089 2,609,200 Fair value of unvested stock options $ 2,918,535 $ 4,915,841 Amount remaining to be recognized as expense $ 1,493,293 $ 3,121,499 The remaining unrecognized expense amount of $1,493,293 will be recognized ratably as expense through December 2024. The Company granted stock units under the 2014 nine September 30, 2021. The following table details the Stock Units for the three nine September 30, 2021: Three Months Ended Nine Months Ended Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Beginning balance 524,863 $ 3.35 - $ - Granted 2,500 3.45 532,513 3.35 Vested - - - - Forfeited (3,300 ) 3.34 (8,450 ) 3.34 Ending balance 524,063 $ 3.35 524,063 $ 3.35 Information regarding stock unit compensation for the nine September 30, 2021 2020 2021 2020 Stock based compensation expense recognized $ 428,756 - Number of unvested stock units 524,063 - Fair value of unvested stock units $ 1,783,518 - Amount remaining to be recognized as expense $ 1,354,762 - The remaining unrecognized expense amount of $1,354,762 will be recognized ratably as expense through August 2025. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Earnings per share (“EPS”) consists of two nine September 30, 2021 September 30, 2020. The calculation of EPS for the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net income (loss) attributable to basic common shareholders $ 5,221 $ (966 ) $ 16,473 $ 953 Weighted average shares outstanding 58,895 58,853 58,877 58,851 Basic earnings per common share $ 0.09 $ (0.02 ) $ 0.28 $ 0.02 Preferred stock dividends $ 875 $ - $ 2,625 $ - Net income (loss) attributable to diluted common shareholders $ 6,096 (966 ) $ 19,098 953 Weighted average shares outstanding (including dilutive CSEs) 75,876 58,853 75,946 60,751 Diluted earnings per common share $ 0.08 $ (0.02 ) $ 0.25 $ 0.02 The following is a summary of securities that could potentially dilute basic earnings per common share in future periods. These securities were not (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive securities Share based compensation awards 5,771 5,994 5,683 5,945 Convertible preferred stock - - - - Total anti-dilutive securities 5,771 5,994 5,683 5,945 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements ASU 2016 13 In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 January 1, 2020. 4014 19 December 31, 2020. December 2020 January 1, 2021 January 1, 2022. January 1, 2022. not ASU 2020 04 In March 2020, 2020 04, Reference Rate Reform (Topic 848 March 12, 2020 January 1, 2020 December 31, 2022. one December 31, 2022. no ASU 2021 01 In January 2021, 2021 01, Reference Rate Reform (Topic 848 848 March 12, 2020 January 1, 2020 December 31, 2022. one December 31, 2022. no |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Activity [Table Text Block] | 2021 2020 Stock based compensation expense recognized $ 1,133,000 $ 1,538,000 Number of unvested stock options 1,754,089 2,609,200 Fair value of unvested stock options $ 2,918,535 $ 4,915,841 Amount remaining to be recognized as expense $ 1,493,293 $ 3,121,499 2021 2020 Stock based compensation expense recognized $ 428,756 - Number of unvested stock units 524,063 - Fair value of unvested stock units $ 1,783,518 - Amount remaining to be recognized as expense $ 1,354,762 - |
Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option [Table Text Block] | Three Months Ended Nine Months Ended Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Beginning balance 524,863 $ 3.35 - $ - Granted 2,500 3.45 532,513 3.35 Vested - - - - Forfeited (3,300 ) 3.34 (8,450 ) 3.34 Ending balance 524,063 $ 3.35 524,063 $ 3.35 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net income (loss) attributable to basic common shareholders $ 5,221 $ (966 ) $ 16,473 $ 953 Weighted average shares outstanding 58,895 58,853 58,877 58,851 Basic earnings per common share $ 0.09 $ (0.02 ) $ 0.28 $ 0.02 Preferred stock dividends $ 875 $ - $ 2,625 $ - Net income (loss) attributable to diluted common shareholders $ 6,096 (966 ) $ 19,098 953 Weighted average shares outstanding (including dilutive CSEs) 75,876 58,853 75,946 60,751 Diluted earnings per common share $ 0.08 $ (0.02 ) $ 0.25 $ 0.02 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive securities Share based compensation awards 5,771 5,994 5,683 5,945 Convertible preferred stock - - - - Total anti-dilutive securities 5,771 5,994 5,683 5,945 |
Note 5 - Investment Securities
Note 5 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | At September 30, 2021 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale U.S. Government agencies $ 27,508 $ 803 $ (1,285 ) $ 27,026 Collateralized mortgage obligations 312,328 1,988 (3,396 ) 310,920 Agency mortgage-backed securities 359,817 539 (3,256 ) 357,100 Municipal securities 7,858 337 - 8,195 Corporate bonds 177,380 920 (1,047 ) 177,253 Investment securities available for sale $ 884,891 $ 4,587 $ (8,984 ) $ 880,494 Held to maturity U.S. Government agencies $ 70,349 $ 2,470 $ - $ 72,819 Collateralized mortgage obligations 401,750 6,793 (8,133 ) 400,410 Agency mortgage-backed securities 905,154 3,030 (8,230 ) 899,954 Investment securities held to maturity $ 1,377,253 $ 12,293 $ (16,363 ) $ 1,373,183 Equity securities $ 9,231 At December 31, 2020 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale U.S. Government agencies $ 32,312 $ - $ (426 ) $ 31,886 Collateralized mortgage obligations 218,232 3,584 (270 ) 221,546 Agency mortgage-backed securities 149,325 1,204 (1 ) 150,528 Municipal securities 8,201 24 - 8,225 Corporate bonds 119,118 595 (3,390 ) 116,323 Investment securities available for sale $ 527,188 $ 5,407 $ (4,087 ) $ 528,508 Held to maturity U.S. Government agencies $ 82,093 $ 4,185 $ - $ 86,278 Collateralized mortgage obligations 363,363 12,687 (231 ) 375,819 Agency mortgage-backed securities 369,480 5,640 (245 ) 374,875 Investment securities held to maturity $ 814,936 $ 22,512 $ (476 ) $ 836,972 Equity securities $ 9,039 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available for Sale Held to Maturity (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 10,290 $ 10,285 $ 4 $ 4 After 1 year to 5 years 79,331 80,205 70,345 72,815 After 5 years to 10 years 52,030 52,089 - - After 10 years 71,095 69,895 - - Collateralized mortgage obligations 312,328 310,920 401,750 400,410 Agency mortgage-backed securities 359,817 357,100 905,154 899,954 Total $ 884,891 $ 880,494 $ 1,377,253 $ 1,373,183 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block] | At September 30, 2021 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ 67,292 $ 802 $ 27,026 $ 483 $ 94,318 $ 1,285 Collateralized mortgage obligations 176,855 3,396 - - 176,855 3,396 Agency mortgage-backed securities 187,061 3,256 - - 187,061 3,256 Municipal securities - - - - - - Corporate bonds 33,576 24 33,462 1,023 67,038 1,047 Investment Securities Available for Sale $ 464,784 $ 7,478 $ 60,488 $ 1,506 $ 525,272 $ 8,984 At September 30, 2021 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations 256,326 8,132 383 1 256,709 8,133 Agency mortgage-backed securities 660,106 8,230 - - 660,106 8,230 Investment Securities Held to Maturity $ 916,432 $ 16,362 $ 383 $ 1 $ 916,815 $ 16,363 At December 31, 2020 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ - $ - $ 31,886 $ 426 $ 31,886 $ 426 Collateralized mortgage obligations 99,497 270 - - 99,497 270 Agency mortgage-backed securities 20,934 1 - - 20,934 1 Municipal securities - - - - - - Corporate bonds 4,559 39 54,649 3,351 59,208 3,390 Investment Securities Available for Sale $ 124,990 $ 310 $ 86,535 $ 3,777 $ 211,525 $ 4,087 At December 31, 2020 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government agencies $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations 62,603 231 - - 62,603 231 Agency mortgage-backed securities 54,537 245 - - 54,537 245 Investment Securities Held to Maturity $ 117,140 $ 476 $ - $ - $ 117,140 $ 476 |
Note 6 - Loans Receivable and_2
Note 6 - Loans Receivable and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (dollars in thousands) September 30, 2021 December 31, 2020 Commercial real estate $ 775,168 $ 705,748 Construction and land development 153,132 142,821 Commercial and industrial 250,650 200,188 Owner occupied real estate 496,301 475,206 Consumer and other 87,208 102,368 Residential mortgage 496,963 395,174 Paycheck protection program 248,610 636,637 Total loans receivable 2,508,032 2,658,142 Deferred fees (net) (11,018 ) (12,800 ) Allowance for loan losses (17,218 ) (12,975 ) Net loans receivable $ 2,479,796 $ 2,632,367 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Paycheck Protection Program Unallocated Total Three months ended September 30, 2021 Allowance for loan losses: Beginning balance: $ 5,919 $ 1,133 $ 1,503 $ 2,440 $ 717 $ 4,270 $ - $ 128 $ 16,110 Charge-offs - - - - (1 ) - - - (1 ) Recoveries - - 12 48 149 - - - 209 Provisions (credits) 265 (43 ) 181 420 (213 ) 282 - 8 900 Ending balance $ 6,184 $ 1,090 $ 1,696 $ 2,908 $ 652 $ 4,552 $ - $ 136 $ 17,218 Three months ended September 30, 2020 Allowance for loan losses: Beginning balance: $ 3,732 $ 952 $ 1,431 $ 1,995 $ 675 $ 2,255 $ - $ - $ 11,040 Charge-offs - - (33 ) - (2 ) (17 ) - - (52 ) Recoveries - - 11 - 2 - - - 13 Provisions (credits) 235 112 74 (8 ) 6 429 - 2 850 Ending balance $ 3,967 $ 1,064 $ 1,483 $ 1,987 $ 681 $ 2,667 $ - $ 2 $ 11,851 (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Paycheck Protection Program Unallocated Total Nine months ended September 30, 2021 Allowance for loan losses: Beginning balance: $ 4,394 $ 948 $ 1,367 $ 2,374 $ 723 $ 3,025 $ - $ 144 $ 12,975 Charge-offs - - (60 ) - (48 ) - - - (108 ) Recoveries - - 162 88 201 - - - 451 Provisions (credits) 1,790 142 227 446 (224 ) 1,527 - (8 ) 3,900 Ending balance $ 6,184 $ 1,090 $ 1,696 $ 2,908 $ 652 $ 4,552 $ - $ 136 $ 17,218 Nine months ended September 30, 2020 Allowance for loan losses: Beginning balance: $ 3,043 $ 688 $ 931 $ 2,292 $ 590 $ 1,705 $ - $ 17 $ 9,266 Charge-offs - - (84 ) (48 ) (67 ) (67 ) - - (266 ) Recoveries - 2 38 1 10 - - - 51 Provisions (credits) 924 374 598 (258 ) 148 1,029 - (15 ) 2,800 Ending balance $ 3,967 $ 1,064 $ 1,483 $ 1,987 $ 681 $ 2,667 $ - $ 2 $ 11,851 (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Paycheck Protection Program Unallocated Total September 30, 2021 Allowance for loan losses: Individually evaluated for impairment $ 1,401 $ - $ 53 $ 481 $ - $ - $ - $ - $ 1,935 Collectively evaluated for impairment 4,783 1,090 1,643 2,427 652 4,552 - 136 15,283 Total allowance for loan losses $ 6,184 $ 1,090 $ 1,696 $ 2,908 $ 652 $ 4,552 $ - $ 136 $ 17,218 Loans receivable: Loans evaluated individually $ 4,931 $ - $ 2,558 $ 9,651 $ 1,154 $ 1,682 $ 10 $ - $ 19,986 Loans evaluated collectively 770,237 153,132 248,092 486,650 86,054 495,281 248,600 - 2,488,046 Total loans receivable $ 775,168 $ 153,132 $ 250,650 $ 496,301 $ 87,208 $ 496,963 $ 248,610 $ - $ 2,508,032 (dollars in thousands) Commercial Real Estate Construction and Land Development Commercial and Industrial Owner Occupied Real Estate Consumer and Other Residential Mortgage Paycheck Protection Program Unallocated Total December 31, 2020 Allowance for loan losses: Individually evaluated for impairment $ 418 $ - $ 51 $ 122 $ - $ - $ - $ - $ 591 Collectively evaluated for impairment 3,976 948 1,316 2,252 723 3,025 - 144 12,384 Total allowance for loan losses $ 4,394 $ 948 $ 1,367 $ 2,374 $ 723 $ 3,025 $ - $ 144 $ 12,975 Loans receivable: Loans evaluated individually $ 9,048 $ 2,963 $ 3,955 $ 1,302 $ 701 $ - $ - $ 17,969 Loans evaluated collectively 696,700 142,821 197,225 471,251 101,066 394,473 636,637 - 2,640,173 Total loans receivable $ 705,748 $ 142,821 $ 200,188 $ 475,206 $ 102,368 $ 395,174 $ 636,637 $ - $ 2,658,142 |
Impaired Financing Receivables [Table Text Block] | September 30, 2021 December 31, 2020 ( dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related With no related allowance recorded: Commercial real estate $ 344 $ 351 $ - $ 5,033 $ 5,040 $ - Construction and land development - - - - - - Commercial and industrial 2,295 2,296 - 2,608 2,794 - Owner occupied real estate 6,528 6,676 - 3,198 3,407 - Consumer and other 1,154 1,419 - 1,302 1,556 - Residential mortgage 1,682 1,749 - 701 768 - Paycheck protection program 10 10 - - - - Total $ 12,013 $ 12,501 $ - $ 12,842 $ 13,565 $ - With an allowance recorded: Commercial real estate $ 4,587 $ 5,108 $ 1,401 $ 4,015 $ 4,536 $ 418 Construction and land development - - - - - - Commercial and industrial 263 402 53 355 371 51 Owner occupied real estate 3,123 3,142 481 757 775 122 Consumer and other - - - - - - Residential mortgage - - - - - - Paycheck protection program - - - - - - Total $ 7,973 $ 8,652 $ 1,935 $ 5,127 $ 5,682 $ 591 Total: Commercial real estate $ 4,931 5,459 1,401 9,048 9,576 418 Construction and land development - - - - - - Commercial and industrial 2,558 2,698 53 2,963 3,165 51 Owner occupied real estate 9,651 9,818 481 3,955 4,182 122 Consumer and other 1,154 1,419 - 1,302 1,556 - Residential mortgage 1,682 1,749 - 701 768 - Paycheck protection program 10 10 - - - - Total $ 19,986 $ 21,153 $ 1,935 $ 17,969 $ 19,247 $ 591 |
Impaired Financing Receivables, Average Recorded Investment and Interest Income, Accrual Method [Table Text Block] | Three Months Ended September 30, 2021 2020 (dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 440 $ 2 $ 6,534 $ 69 Construction and land development - - - - Commercial and industrial 2,298 - 2,615 - Owner occupied real estate 3,387 52 3,491 13 Consumer and other 1,204 14 1,114 6 Residential mortgage 830 - 724 - Paycheck protection program 2 - - - Total $ 8,161 $ 68 $ 14,478 $ 88 With an allowance recorded: Commercial real estate $ 4,086 $ 3 $ 4,167 $ - Construction and land development - - - - Commercial and industrial 265 - 37 - Owner occupied real estate 1,105 10 819 1 Consumer and other - - 10 - Residential mortgage - - - - Paycheck protection program - - - - Total $ 5,456 $ 13 $ 5,033 $ 1 Total: Commercial real estate $ 4,526 $ 5 $ 10,701 $ 69 Construction and land development - - - - Commercial and industrial 2,563 - 2,652 - Owner occupied real estate 4,492 62 4,310 14 Consumer and other 1,204 14 1,124 6 Residential mortgage 830 - 724 - Paycheck protection program 2 - - - Total $ 13,617 $ 81 $ 19,511 $ 89 Nine Months Ended September 30, 2021 2020 (dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 385 $ 2 $ 6,484 $ 207 Construction and land development - - - - Commercial and industrial 2,297 - 2,607 1 Owner occupied real estate 3,892 73 3,051 21 Consumer and other 1,227 14 1,156 13 Residential mortgage 946 - 768 1 Paycheck protection program 3 - - - Total $ 8,750 $ 89 $ 14,066 $ 243 With an allowance recorded: Commercial real estate $ 4,158 $ 6 $ 4,153 $ - Construction and land development - - - - Commercial and industrial 263 - 479 - Owner occupied real estate 1,140 20 1,273 17 Consumer and other - - - - Residential mortgage - - 30 1 Paycheck protection program - - - - Total $ 5,561 $ 26 $ 5,935 $ 18 Total: Commercial real estate $ 4,543 $ 8 $ 10,637 $ 207 Construction and land development - - - - Commercial and industrial 2,560 - 3,086 1 Owner occupied real estate 5,032 93 4,324 38 Consumer and other 1,227 14 1,156 13 Residential mortgage 946 - 798 2 Paycheck protection program 3 - - - Total $ 14,311 $ 115 $ 20,001 $ 261 |
Financing Receivable, Past Due [Table Text Block] | (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing At September 30, 2021 Commercial real estate $ - $ - $ 4,303 $ 4,303 $ 770,865 $ 775,168 $ - Construction and land development - - - - 153,132 153,132 - Commercial and industrial - - 2,558 2,558 248,092 250,650 - Owner occupied real estate - 4,461 3,169 7,630 488,671 496,301 - Consumer and other 21 - 1,167 1,188 86,020 87,208 13 Residential mortgage - - 1,738 1,738 495,225 496,963 - Paycheck protection program - 43 10 53 248,557 248,610 - Total $ 21 $ 4,504 $ 12,945 $ 17,470 $ 2,490,562 $ 2,508,032 $ 13 (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Total Past Due Current Total Loans Receivable Loans At December 31, 2020 Commercial real estate $ - $ 97 $ 4,421 $ 4,518 $ 701,230 $ 705,748 $ - Construction and land development - - - - 142,821 142,821 - Commercial and industrial 1,648 - 2,963 4,611 195,577 200,188 - Owner occupied real estate 581 813 2,859 4,253 470,953 475,206 - Consumer and other 92 28 1,302 1,422 100,946 102,368 - Residential mortgage - - 1,313 1,313 393,861 395,174 612 Paycheck protection program - - - - 636,637 636,637 - Total $ 2,321 $ 938 $ 12,858 $ 16,117 $ 2,642,025 $ 2,658,142 $ 612 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (dollars in thousands) Pass Special Mention Substandard Doubtful Total At September 30, 2021: Commercial real estate $ 770,242 $ - $ 4,926 $ - $ 775,168 Construction and land development 153,132 - - - 153,132 Commercial and industrial 248,092 - 2,558 - 250,650 Owner occupied real estate 486,457 238 9,606 - 496,301 Consumer and other 86,054 - 1,154 - 87,208 Residential mortgage 495,281 - 1,682 - 496,963 Paycheck protection program 248,600 - 10 - 248,610 Total $ 2,487,858 $ 238 $ 19,936 $ - $ 2,508,032 (dollars in thousands) Pass Special Mention Substandard Doubtful Total At December 31, 2020: Commercial real estate $ 701,151 $ 80 $ 4,517 $ - $ 705,748 Construction and land development 142,821 - - - 142,821 Commercial and industrial 197,225 - 2,963 - 200,188 Owner occupied real estate 470,732 519 3,955 - 475,206 Consumer and other 101,066 - 1,302 - 102,368 Residential mortgage 394,473 - 701 - 395,174 Paycheck protection program 636,637 - - - 636,637 Total $ 2,644,105 $ 599 $ 13,438 $ - $ 2,658,142 |
Financing Receivable, Nonaccrual [Table Text Block] | (dollars in thousands) September 30, 2021 December 31, 2020 Commercial real estate $ 4,303 $ 4,421 Construction and land development - - Commercial and industrial 2,558 2,963 Owner occupied real estate 3,169 2,859 Consumer and other 1,154 1,302 Residential mortgage 1,738 701 Paycheck protection program 10 - Total $ 12,932 $ 12,246 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | (dollars in thousands) Number of Loans Accrual Status Non- Accrual Status Total TDRs September 30, 2021 Commercial real estate - $ - $ - $ - Construction and land development - - - - Commercial and industrial - - - - Owner occupied real estate - - - - Consumer and other - - - - Residential mortgage - - - - Paycheck protection program - - - - Total - $ - $ - $ - December 31, 2020 Commercial real estate 1 $ 4,530 $ - $ 4,530 Construction and land development - - - - Commercial and industrial - - - - Owner occupied real estate - - - - Consumer and other - - - - Residential mortgage - - - - Paycheck protection program - - - - Total 1 $ 4,530 $ - $ 4,530 |
Note 7 - Other Borrowings (Tabl
Note 7 - Other Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | September 30, 2021 December 31, 2020 (dollars in thousands) Balance at End of Period Weighted Average Interest Rate at End of Period Balance at End of Period Weighted Average Interest Rate at End of Period Other borrowings Paycheck Protection Program Liquidity Facility borrowings $ - - $ 633,866 0.35 % |
Note 8 - Fair Value of Financ_2
Note 8 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (dollars in thousands) Total (Level 1) Quoted Prices in Active Markets for Identical Assets (Level 2) Significant Other Observable Inputs (Level 3) Significant Unobservable Inputs September 30, 2021 Assets: U.S. Government agencies $ 27,026 $ - $ 27,026 $ - Collateralized mortgage obligations 310,920 - 310,920 - Agency mortgage-backed securities 357,100 - 357,100 - Municipal securities 8,195 - 8,195 - Corporate bonds 177,253 - 174,650 2,603 Investment securities available for sale $ 880,494 $ 877,891 $ 2,603 Equity securities 9,231 9,231 - - Mortgage Loans Held for Sale $ 12,082 $ - $ 12,082 $ - SBA Servicing Assets 4,572 - - 4,572 Interest Rate Lock Commitments 593 - 593 - Best Efforts Forward Loan Sales Commitments 67 - 67 - Mandatory Forward Loan Sales Commitments 43 - 43 - Liabilities: Interest Rate Lock Commitments - - - - Best Efforts Forward Loan Sales Commitments 109 - 109 - Mandatory Forward Loan Sales Commitments 33 - 33 - December 31, 2020 Assets: U.S. Government agencies $ 31,886 $ - $ 31,886 $ - Collateralized mortgage obligations 221,546 - 221,546 - Agency mortgage-backed securities 150,528 - 150,528 - Municipal securities 8,225 - 8,225 - Corporate bonds 116,323 - 113,692 2,631 Investment securities available for sale $ 528,508 $ 525,877 $ 2,631 Equity securities 9,039 9,039 - - Mortgage Loans Held for Sale $ 50,387 $ - $ 50,387 $ - SBA Servicing Assets 4,626 - - 4,626 Interest Rate Lock Commitments 1,580 - 1,580 - Best Efforts Forward Loan Sales Commitments 2 - 2 - Mandatory Forward Loan Sales Commitments - - - - Liabilities: Interest Rate Lock Commitments - - - - Best Efforts Forward Loan Sales Commitments 612 - 612 - Mandatory Forward Loan Sales Commitments 800 - 800 - |
Schedule of Servicing Assets at Fair Value [Table Text Block] | Three Months Ended September 30, (dollars in thousands) 2021 2020 Beginning balance, July 1 st $ 4,641 $ 4,604 Additions 178 173 Fair value adjustments (247 ) (143 ) Ending balance, September 30 th $ 4,572 $ 4,634 Nine Months Ended September 30, (dollars in thousands) 2021 2020 Beginning balance, January 1 st $ 4,626 $ 4,447 Additions 491 488 Fair value adjustments (545 ) (301 ) Ending balance, September 30 th $ 4,572 $ 4,634 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three Months Ended September 30, 2021 2020 Level 3 Investments Only (dollars in thousands) Corporate Bonds Corporate Bonds Balance, July 1 st $ 2,603 $ 2,665 Unrealized gains (losses) - (34 ) Proceeds from sales - - Realized losses - - Balance, September 30 th $ 2,603 $ 2,631 Nine Months Ended September 30, 2021 2020 Level 3 Investments Only (dollars in thousands) Corporate Bonds Corporate Bonds Balance, January 1 st $ 2,631 $ 2,819 Unrealized gains (losses) (28 ) (188 ) Proceeds from sales - - Realized losses - - Balance, September 30 th $ 2,603 $ 2,631 |
Fair Value Measurements, Nonrecurring [Table Text Block] | (dollars in thousands) Total (Level 1) Quoted Prices in Active Markets for Identical Assets (Level 2) Significant Other Observable Inputs (Level 3) Significant Unobservable Inputs September 30, 2021 Impaired loans $ 6,182 $ - $ - $ 6,182 Other real estate owned 168 - - 168 December 31, 2020 Impaired loans $ 5,678 $ - $ - $ 5,678 Other real estate owned 364 - - 364 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Quantitative Information about Level 3 Fair Value Measurements Asset Description Fair Value Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2021 Corporate bonds $ 2,603 Discounted Cash Flows Discount Rate (3.37%) SBA servicing assets $ 4,572 Discounted Cash Flows Conditional Prepayment Rate Discount Rate (14.50%) (10.00%) Impaired loans $ 6,182 Appraised Value of Collateral (1) Liquidation expenses (2) 10% - 42% (21%) (3) Other real estate owned $ 168 Appraised Value of Collateral (1) Liquidation expenses (2) (6%) (3) December 31, 2020 Corporate bonds $ 2,631 Discounted Cash Flows Discount Rate (3.48%) SBA servicing assets $ 4,626 Discounted Cash Flows Conditional Prepayment Rate Discount Rate (13.22%) (10.00%) Impaired loans $ 5,678 Appraised Value of Collateral (1) Liquidation expenses (2) 0% - 23% (12%) (3) Other real estate owned $ 364 Appraised Value of Collateral (1) Liquidation expenses (2) 7% - 16% (13%) (3) |
Fair Value Option, Disclosures [Table Text Block] | Carrying Amount Aggregate Unpaid Principal Balance Excess Carrying Amount Over Aggregate Unpaid Principal Balance September 30, 2021 $ 12,082 $ 11,725 $ 357 December 31, 2020 $ 50,387 $ 48,109 $ 2,278 |
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block] | (dollars in thousands) September 30, 2021 December 31, 2020 SBA Servicing Asset Fair Value of SBA Servicing Asset $ 4,572 $ 4,626 Composition of SBA Loans Serviced for Others Fixed-rate SBA loans 4 % 2 % Adjustable-rate SBA loans 96 % 98 % Total 100 % 100 % Weighted Average Remaining Term (in years) 19.6 20.0 Prepayment Speed 14.50 % 13.22 % Effect on fair value of a 10% increase $ (175 ) $ (170 ) Effect on fair value of a 20% increase (338 ) (329 ) Weighted Average Discount Rate 10.00 % 10.00 % Effect on fair value of a 10% increase $ (144 ) $ (152 ) Effect on fair value of a 20% increase (279 ) (295 ) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at September 30, 2021 (dollars in thousands) Carrying Fair Value Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) Balance Sheet Data Financial assets: Cash and cash equivalents $ 383,968 $ 383,968 $ 383,968 $ - $ - Investment securities available for sale 880,494 880,494 - 877,891 2,603 Investment securities held to maturity 1,377,253 1,373,183 - 1,373,183 - Equity securities 9,231 9,231 9,231 - - Restricted stock 3,510 3,510 - 3,510 - Loans held for sale 16,991 16,991 - 12,082 4,909 Loans receivable, net 2,479,796 2,470,627 - - 2,470,627 SBA servicing assets 4,572 4,572 - - 4,572 Accrued interest receivable 15,080 15,080 - 15,080 - Interest rate lock commitments 593 593 - 593 - Best efforts forward loan sales commitments 67 67 - 67 - Mandatory forward loan sales commitments 43 43 - 43 - Financial liabilities: Deposits Demand, savings and money market $ 4,774,603 $ 4,774,603 $ - $ 4,774,603 $ - Time 197,478 197,702 - 197,702 - Subordinated debt 11,276 8,551 - - 8,551 Other borrowings - - - - - Accrued interest payable 482 482 - 482 - Interest rate lock commitments - - - - - Best efforts forward loan sales commitments 109 109 - 109 - Mandatory forward loan sales commitments 33 33 - 33 - Off-Balance Sheet Data Commitments to extend credit - - - - - Standby letters-of-credit - - - - - Fair Value Measurements at December 31, 2020 (dollars in thousands) Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance Sheet Data Financial assets: Cash and cash equivalents $ 775,300 $ 775,300 $ 775,300 $ - $ - Investment securities available for sale 528,508 528,508 - 525,877 2,631 Investment securities held to maturity 814,936 836,972 - 836,972 - Equity securities 9,039 9,039 9,039 Restricted stock 3,039 3,039 - 3,039 - Loans held for sale 53,370 53,370 - 50,387 2,983 Loans receivable, net 2,632,367 2,618,104 - - 2,618,104 SBA servicing assets 4,626 4,626 - - 4,626 Accrued interest receivable 16,120 16,120 - 16,120 - Interest rate lock commitments 1,580 1,580 - 1,580 - Best efforts forward loan sales commitments 2 2 - 2 - Mandatory forward loan sales commitments - - - - - Financial liabilities: Deposits Demand, savings and money market $ 3,827,390 $ 3,827,390 $ - $ 3,827,390 $ - Time 186,361 187,292 - 187,292 - Subordinated debt 11,271 8,026 - - 8,026 Other borrowings 633,866 633,866 - 633,866 - Accrued interest payable 926 926 - 926 - Interest rate lock commitments - - - - - Best efforts forward loan sales commitments 612 612 - 612 - Mandatory forward loan sales commitments 800 800 - 800 - Off-Balance Sheet Data Commitments to extend credit - - - - - Standby letters-of-credit - - - - - |
Note 9 - Changes in Accumulat_2
Note 9 - Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Gains (Losses) on Available- For-Sale Securities Unrealized Holding Losses on Securities Transferred From Available-For-Sale To Held-To-Maturity Total (dollars in thousands) Balance January 1, 2021 $ 985 $ (3,814 ) $ (2,829 ) Unrealized loss on securities (4,265 ) - (4,265 ) Amounts reclassified from accumulated other comprehensive income to net income (2) (1 ) 1,491 1,490 Net current-period other comprehensive income (4,266 ) 1,491 (2,775 ) Total change in accumulated other comprehensive income (4,266 ) 1,491 (2,775 ) Balance September 30, 2021 $ (3,281 ) $ (2,323 ) $ (5,604 ) Balance January 1, 2020 $ (1,275 ) $ (6,066 ) $ (7,341 ) Unrealized gain on securities 3,483 - 3,483 Amounts reclassified from accumulated other comprehensive income to net income (2) (2,060 ) 1,498 (562 ) Net current-period other comprehensive income (loss) 1,423 1,498 2,921 Total change in accumulated other comprehensive income (loss) 1,423 1,498 2,921 Balance September 30, 2020 $ 148 $ (4,568 ) $ (4,420 ) Balance January 1, 2020 $ (1,275 ) $ (6,066 ) $ (7,341 ) Unrealized gain on securities 4,320 - 4,320 Amounts reclassified from accumulated other comprehensive income to net income (2) (2,060 ) 2,252 192 Net current-period other comprehensive income (loss) 2,260 2,252 4,512 Total change in accumulated other comprehensive income 2,260 2,252 4,512 Balance December 31, 2020 $ 985 $ (3,814 ) $ (2,829 ) |
Note 11 - Goodwill and Other _2
Note 11 - Goodwill and Other Intangibles (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Three Months Ended September 30, (dollars in thousands) 2021 2020 Balance, July 1st $ - $ 5,011 Additions/Adjustments - - Amortization - - Impairment - (5,011 ) Balance, September 30th $ - $ - Amortization Period (in years) N/A Nine Months Ended September 30, (dollars in thousands) 2021 2020 Balance, January 1st $ - $ 5,011 Additions/Adjustments - - Amortization - - Impairment - (5,011 ) Balance, September 30 th $ - $ - Amortization Period (in years) N/A |
Note 12 - Derivatives and Ris_2
Note 12 - Derivatives and Risk Management Activities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Position [Table Text Block] | September 30, 2021 Balance Sheet Presentation Fair Value Notional Amount Asset derivatives: IRLC’s Other Assets $ 593 $ 27,969 Best efforts forward loan sales commitments Other Assets 67 15,592 Mandatory forward loan sales commitments Other Assets 43 9,128 Liability derivatives: IRLC’s Other Liabilities $ - $ - Best efforts forward loan sales commitments Other Liabilities 109 12,377 Mandatory forward loan sales commitments Other Liabilities 33 2,530 December 31, 2020 Balance Sheet Presentation Fair Value Notional Amount Asset derivatives: IRLC’s Other Assets $ 1,580 $ 48,223 Best efforts forward loan sales commitments Other Assets 2 2,069 Mandatory forward loan sales commitments Other Assets - - Liability derivatives: IRLC’s Other Liabilities $ - $ - Best efforts forward loan sales commitments Other Liabilities 612 46,154 Mandatory forward loan sales commitments Other Liabilities 800 48,373 |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance [Table Text Block] | Statement of Operations Presentation Three Months Ended September 30, 2021 Gain/(Loss) Nine Months Ended September 30, 2021 Gain/(Loss) Asset derivatives: IRLCs Mortgage banking income $ (211 ) $ (987 ) Best efforts forward loan sales commitments Mortgage banking income 65 65 Mandatory forward loan sales commitments Mortgage banking income 41 43 Liability derivatives: IRLCs Mortgage banking income $ - $ - Best efforts forward loan sales commitments Mortgage banking income 158 503 Mandatory forward loan sales commitments Mortgage banking income 79 767 Statement of Operations Presentation Three Months Ended September 30, 2020 Gain/(Loss) Nine Months Ended September 30, 2020 Gain/(Loss) Asset derivatives: IRLCs Mortgage banking income $ (191 ) $ 1,089 Best efforts forward loan sales commitments Mortgage banking income (8 ) (4 ) Mandatory forward loan sales commitments Mortgage banking income - (2 ) Liability derivatives: IRLCs Mortgage banking income $ (1 ) $ (1 ) Best efforts forward loan sales commitments Mortgage banking income 100 (421 ) Mandatory forward loan sales commitments Mortgage banking income (199 ) (442 ) |
Note 13 - Revenue Recognition (
Note 13 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (dollars in thousands) 2021 2020 2021 2020 Non-interest income In-scope of Topic 606 Service charges on deposit accounts $ 3,283 $ 2,134 $ 10,503 $ 6,166 Other non-interest income 50 1,090 624 1,546 Non-interest income (in-scope of Topic 606) 3,333 3,224 11,127 7,712 Non-interest income (out-of-scope of Topic 606) 3,984 6,807 14,145 17,288 Total non-interest income $ 7,317 $ 10,031 $ 25,272 $ 25,000 |
Note 14 - Leases (Tables)
Note 14 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 (dollars in thousands) Operating lease cost $ 2,142 $ 2,086 $ 6,416 $ 5,920 Sublease income - - - - Total lease cost $ 2,142 $ 2,086 $ 6,416 $ 5,920 Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 (dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,097 $ 1,893 $ 6,167 $ 5,432 Non-cash investing and financing activities Additions to Operating leases – right of use asset New operating lease liability obligation $ 52 $ 5,121 $ 8,174 $ 5,310 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | September 30, 2021 September 30, 2020 (dollars in thousands) Operating lease payments due: Within one year $ 2,102 $ 6,521 One to three years 15,755 11,804 Three to five years 14,960 10,529 More than five years 85,180 77,596 Total undiscounted cash flows 117,997 106,450 Discount on cash flows (34,614 ) (33,481 ) Total operating lease liability obligations $ 83,383 $ 72,969 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) | Sep. 30, 2021 |
Number of Wholly Owned Subsidiary | 1 |
Number of Unconsolidated Subsidiaries | 2 |
Number of Trust Preferred Securities Issued | 2 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Apr. 29, 2014 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Apr. 27, 2021 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares (in shares) | 636,635 | 907,790 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 5,561,349 | 5,993,700 | 5,561,349 | 5,993,700 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 398,000 | $ 11,000 | $ 398,000 | $ 11,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares) | 3,807,260 | 3,384,500 | 3,807,260 | 3,384,500 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 278,000 | $ 11,000 | $ 278,000 | $ 11,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 28,000 | 5,000 | 54,375 | 13,000 | ||
Proceeds from Stock Options Exercised | $ 140,000 | $ 33,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | 283,701 | 220,875 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Options Forfeited, Weighted Average Grant Date Fair Value, Amount | $ 578,051 | $ 419,999 | ||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 1,493,293 | $ 3,121,499 | 1,493,293 | 3,121,499 | ||
Stock Unit [Member] | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,354,762 | $ 0 | $ 1,354,762 | $ 0 | ||
The 2005 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 1,500,000 | 1,500,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||
The 2005 Plan [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | |||||
The 2005 Plan [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |||||
The 2014 Republic First Bancorp, Inc. Equity Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 6,400,000 | 6,400,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 2,600,000 | |||||
Minimum Percentage of Outstanding Shares as Annual Adjustment | 10.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 532,513 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value, Amount | $ 1,780,000 | |||||
The 2021 Republic First Bancorp, Inc. Equity Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 7,500,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Stock-based Compensation (Details) - USD ($) | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | |
Number of unvested stock options (in shares) | 1,754,089 | 2,609,200 | ||
Fair value of unvested stock options | $ 2,918,535 | $ 4,915,841 | ||
Amount remaining to be recognized as expense | 1,493,293 | 3,121,499 | ||
Share-based Payment Arrangement, Option [Member] | ||||
Stock based compensation expense recognized | 1,133,000 | 1,538,000 | ||
Stock Unit [Member] | ||||
Stock based compensation expense recognized | $ 428,756 | $ 0 | ||
Number of unvested stock units (in shares) | 524,063 | 0 | 524,863 | 0 |
Fair value of unvested stock units | $ 1,783,518 | $ 0 | ||
Amount remaining to be recognized as expense | $ 1,354,762 | $ 0 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Stock Units Activity (Details) - Stock Unit [Member] - $ / shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | |
Beginning balance, number of units (in shares) | 524,863 | 0 |
Beginning balance, weighted average grant date fair value (in dollars per share) | $ 3.35 | $ 0 |
Granted, number of units (in shares) | 2,500 | 532,513 |
Granted, weighted average grant date fair value (in dollars per share) | $ 3.45 | $ 3.35 |
Vested, number of units (in shares) | 0 | 0 |
Vested, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 |
Forfeited, number of units (in shares) | (3,300) | (8,450) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 3.34 | $ 3.34 |
Ending balance, number of units (in shares) | 524,063 | 524,063 |
Ending balance, weighted average grant date fair value (in dollars per share) | $ 3.35 | $ 3.35 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Calculation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income (loss) attributable to basic common shareholders | $ 5,221 | $ (966) | $ 16,473 | $ 953 |
Weighted average shares outstanding (in shares) | 58,895 | 58,853 | 58,877 | 58,851 |
Basic earnings per common share (in dollars per share) | $ 0.09 | $ (0.02) | $ 0.28 | $ 0.02 |
Preferred stock dividends | $ 875 | $ 0 | $ 2,625 | $ 0 |
Net income (loss) attributable to diluted common shareholders | $ 6,096 | $ (966) | $ 19,098 | $ 953 |
Weighted average shares outstanding (including dilutive CSEs) (in shares) | 75,876 | 58,853 | 75,946 | 60,751 |
Diluted earnings per common share (in dollars per share) | $ 0.08 | $ (0.02) | $ 0.25 | $ 0.02 |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies - Anti-dilutive Securities (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Anti-dilutive securities (in shares) | 5,771 | 5,994 | 5,683 | 5,945 |
Share-based Payment Arrangement [Member] | ||||
Anti-dilutive securities (in shares) | 5,771 | 5,994 | 5,683 | 5,945 |
Convertible Preferred Stock [Member] | ||||
Anti-dilutive securities (in shares) | 0 | 0 | 0 | 0 |
Note 4 - Segment Reporting (Det
Note 4 - Segment Reporting (Details Textual) | 9 Months Ended |
Sep. 30, 2021 | |
Number of Reportable Segments | 1 |
Note 5 - Investment Securitie_2
Note 5 - Investment Securities (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses | $ 0 | $ 0 | |||
Securities, Continuous Loss Position, Accumulated Loss | $ 25,300,000 | 25,300,000 | 4,600,000 | ||
Securities, Continuous Unrealized Loss Position, Fair Value | 1,400,000,000 | 1,400,000,000 | $ 328,700,000 | ||
Proceeds from Sale of Debt Securities, Available-for-sale | $ 0 | $ 32,400,000 | $ 0 | $ 125,222,000 | |
Debt Securities, Available-for-sale, Realized Gain | 279,000 | 2,800,000 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax, Total | $ 71,000 | $ 700,000 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Subprime [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | AltA [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
US Government Agencies Debt Securities [Member] | |||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 7 | 7 | |||
Collateralized Mortgage Obligations [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 27 | 27 | |||
Collateralized Mortgage Obligations [Member] | Subprime [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Collateralized Mortgage Obligations [Member] | AltA [Member] | |||||
Number of Securities in Investment Portfolio | 0 | 0 | 0 | ||
Agency Mortgage-backed Securities [Member] | |||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 37 | 37 | |||
US States and Political Subdivisions Debt Securities [Member] | |||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | |||
Corporate Debt Securities [Member] | |||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 9 | 9 |
Note 5 - Investment Securitie_3
Note 5 - Investment Securities - Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2012 | |
Total, available for sale, amortized cost | $ 884,891 | $ 527,188 | ||
Investment securities available for sale, gross unrealized gains | 4,587 | 5,407 | ||
Investment securities available for sale, gross unrealized losses | (8,984) | (4,087) | ||
Investment securities available for sale, at fair value | 880,494 | 528,508 | $ 880,494 | |
Investment securities held to maturity, at amortized cost | 1,377,253 | 814,936 | 1,377,253 | |
Investment securities held to maturity, gross unrealized gains | 12,293 | 22,512 | ||
Investment securities held to maturity, gross unrealized losses | (16,363) | (476) | ||
Investment securities held to maturity, at fair value | 1,373,183 | 836,972 | 1,373,183 | |
Equity securities (1) | 9,039 | $ 9,231 | ||
Noncumulative Preferred Stock [Member] | ||||
Equity securities (1) | [1] | 9,231 | 9,039 | |
US Government Agencies Debt Securities [Member] | ||||
Total, available for sale, amortized cost | 27,508 | 32,312 | ||
Investment securities available for sale, gross unrealized gains | 803 | 0 | ||
Investment securities available for sale, gross unrealized losses | (1,285) | (426) | ||
Investment securities available for sale, at fair value | 27,026 | 31,886 | ||
Investment securities held to maturity, at amortized cost | 70,349 | 82,093 | ||
Investment securities held to maturity, gross unrealized gains | 2,470 | 4,185 | ||
Investment securities held to maturity, gross unrealized losses | 0 | 0 | ||
Investment securities held to maturity, at fair value | 72,819 | 86,278 | ||
Collateralized Mortgage Obligations [Member] | ||||
Total, available for sale, amortized cost | 312,328 | 218,232 | ||
Investment securities available for sale, gross unrealized gains | 1,988 | 3,584 | ||
Investment securities available for sale, gross unrealized losses | (3,396) | (270) | ||
Investment securities available for sale, at fair value | 310,920 | 221,546 | ||
Investment securities held to maturity, at amortized cost | 401,750 | 363,363 | ||
Investment securities held to maturity, gross unrealized gains | 6,793 | 12,687 | ||
Investment securities held to maturity, gross unrealized losses | (8,133) | (231) | ||
Investment securities held to maturity, at fair value | 400,410 | 375,819 | ||
Agency Mortgage-backed Securities [Member] | ||||
Total, available for sale, amortized cost | 359,817 | 149,325 | ||
Investment securities available for sale, gross unrealized gains | 539 | 1,204 | ||
Investment securities available for sale, gross unrealized losses | (3,256) | (1) | ||
Investment securities available for sale, at fair value | 357,100 | 150,528 | ||
Investment securities held to maturity, at amortized cost | 905,154 | 369,480 | ||
Investment securities held to maturity, gross unrealized gains | 3,030 | 5,640 | ||
Investment securities held to maturity, gross unrealized losses | (8,230) | (245) | ||
Investment securities held to maturity, at fair value | 899,954 | 374,875 | ||
US States and Political Subdivisions Debt Securities [Member] | ||||
Total, available for sale, amortized cost | 7,858 | 8,201 | ||
Investment securities available for sale, gross unrealized gains | 337 | 24 | ||
Investment securities available for sale, gross unrealized losses | 0 | 0 | ||
Investment securities available for sale, at fair value | 8,195 | 8,225 | ||
Corporate Debt Securities [Member] | ||||
Total, available for sale, amortized cost | 177,380 | 119,118 | ||
Investment securities available for sale, gross unrealized gains | 920 | 595 | ||
Investment securities available for sale, gross unrealized losses | (1,047) | (3,390) | ||
Investment securities available for sale, at fair value | $ 177,253 | $ 116,323 | ||
[1] | Equity securities consist of investments in non-cumulative preferred stock. |
Note 5 - Investment Securitie_4
Note 5 - Investment Securities - Investment Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2012 |
Due in 1 year or less, available for sale, amortized cost | $ 10,290 | ||
Due in 1 year or less, available for sale, fair value | 10,285 | ||
Due in 1 year or less, held to maturity, amortized cost | 4 | ||
Due in 1 year or less, held to maturity, fair value | 4 | ||
After 1 year to 5 years, available for sale, amortized cost | 79,331 | ||
After 1 year to 5 years, available for sale, fair value | 80,205 | ||
After 1 year to 5 years, held to maturity, amortized cost | 70,345 | ||
After 1 year to 5 years, held to maturity, fair value | 72,815 | ||
After 5 years to 10 years, available for sale, amortized cost | 52,030 | ||
After 5 years to 10 years, available for sale, fair value | 52,089 | ||
After 5 years to 10 years, held to maturity, amortized cost | 0 | ||
After 5 years to 10 years, held to maturity, fair value | 0 | ||
After 10 years, available for sale, amortized cost | 71,095 | ||
After 10 years, available for sale, fair value | 69,895 | ||
After 10 years, held to maturity, amortized cost | 0 | ||
After 10 years, held to maturity, fair value | 0 | ||
Total, available for sale, amortized cost | 884,891 | $ 527,188 | |
Investment securities available for sale, at fair value | 880,494 | 528,508 | $ 880,494 |
Investment securities held to maturity, amortized cost | 1,377,253 | 814,936 | 1,377,253 |
Investment securities held to maturity, at fair value | 1,373,183 | 836,972 | $ 1,373,183 |
Collateralized Mortgage Obligations [Member] | |||
No specific maturity date, available for sale, amortized cost | 312,328 | ||
No specific maturity date, available for sale, fair value | 310,920 | ||
No specific maturity date, held to maturity, amortized cost | 401,750 | ||
No specific maturity date, held to maturity, fair value | 400,410 | ||
Total, available for sale, amortized cost | 312,328 | 218,232 | |
Investment securities available for sale, at fair value | 310,920 | 221,546 | |
Investment securities held to maturity, amortized cost | 401,750 | 363,363 | |
Investment securities held to maturity, at fair value | 400,410 | $ 375,819 | |
Collateralized Mortgage Backed Securities [Member] | |||
No specific maturity date, available for sale, amortized cost | 359,817 | ||
No specific maturity date, available for sale, fair value | 357,100 | ||
No specific maturity date, held to maturity, amortized cost | 905,154 | ||
No specific maturity date, held to maturity, fair value | $ 899,954 |
Note 5 - Investment Securitie_5
Note 5 - Investment Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | $ 464,784 | $ 124,990 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 7,478 | 310 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 60,488 | 86,535 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 1,506 | 3,777 |
Available for sale securities in a continuous unrealized loss position, fair value | 525,272 | 211,525 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | 8,984 | 4,087 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, fair value | 916,432 | 117,140 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 16,362 | 476 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, fair value | 383 | 0 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 1 | 0 |
Held to maturity securities in a continuous unrealized loss position, fair value | 916,815 | 117,140 |
Held to maturity securities in a continuous unrealized loss position, unrealized losses | 16,363 | 476 |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 67,292 | 0 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 802 | 0 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 27,026 | 31,886 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 483 | 426 |
Available for sale securities in a continuous unrealized loss position, fair value | 94,318 | 31,886 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | 1,285 | 426 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, fair value | 0 | 0 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 0 | 0 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, fair value | 0 | 0 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 0 | 0 |
Held to maturity securities in a continuous unrealized loss position, fair value | 0 | 0 |
Held to maturity securities in a continuous unrealized loss position, unrealized losses | 0 | 0 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 176,855 | 99,497 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 3,396 | 270 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 0 | 0 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 0 | 0 |
Available for sale securities in a continuous unrealized loss position, fair value | 176,855 | 99,497 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | 3,396 | 270 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, fair value | 256,326 | 62,603 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 8,132 | 231 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, fair value | 383 | 0 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 1 | 0 |
Held to maturity securities in a continuous unrealized loss position, fair value | 256,709 | 62,603 |
Held to maturity securities in a continuous unrealized loss position, unrealized losses | 8,133 | 231 |
Agency Mortgage-backed Securities [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 187,061 | 20,934 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 3,256 | 1 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 0 | 0 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 0 | 0 |
Available for sale securities in a continuous unrealized loss position, fair value | 187,061 | 20,934 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | 3,256 | 1 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, fair value | 660,106 | 54,537 |
Held to maturity securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 8,230 | 245 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, fair value | 0 | 0 |
Held to maturity securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 0 | 0 |
Held to maturity securities in a continuous unrealized loss position, fair value | 660,106 | 54,537 |
Held to maturity securities in a continuous unrealized loss position, unrealized losses | 8,230 | 245 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 0 | 0 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 0 | 0 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 0 | 0 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 0 | 0 |
Available for sale securities in a continuous unrealized loss position, fair value | 0 | 0 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | 0 | 0 |
Corporate Debt Securities [Member] | ||
Available for sale securities in a continuous unrealized loss position, less than 12 months, fair value | 33,576 | 4,559 |
Available for sale securities in a continuous unrealized loss position, less than 12 months, unrealized losses | 24 | 39 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, fair value | 33,462 | 54,649 |
Available for sale securities in a continuous unrealized loss position, 12 months or more, unrealized losses | 1,023 | 3,351 |
Available for sale securities in a continuous unrealized loss position, fair value | 67,038 | 59,208 |
Available for sale securities in a continuous unrealized loss position, unrealized losses | $ 1,047 | $ 3,390 |
Note 6 - Loans Receivable and_3
Note 6 - Loans Receivable and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Sep. 30, 2012USD ($) | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 190,075 | $ 190,000 | $ 546,451 | $ 587,000 | ||
Financing Receivable, Number of Payment Deferrals | 21 | |||||
Financing Receivable, Deferred Payments | $ 16,000,000 | |||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | |||
Number of Mortgage Loans in Process of Foreclosure | 1 | 1 | ||||
Real Estate Acquired Through Foreclosure | $ 1,188,000 | $ 532,000 | ||||
Residential Portfolio Segment [Member] | ||||||
Real Estate Acquired Through Foreclosure | $ 0 | $ 0 | $ 0 | |||
Second Deferred Loans [Member] | ||||||
Financing Receivable, Number of Payment Deferrals | 13 | |||||
Financing Receivable, Deferred Payments | $ 13,000,000 | |||||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Financing Receivable, Number of Payment Deferrals | 8 | |||||
Financing Receivable, Deferred Payments | $ 3,000,000 |
Note 6 - Loans Receivable and_4
Note 6 - Loans Receivable and Allowance for Loan Losses - Gross Loans by Major Category (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2012 |
Loans receivable | $ 2,508,032 | $ 2,658,142 | |
Deferred fees (net) | (11,018) | (12,800) | |
Allowance for loan losses | (17,218) | (12,975) | $ (17,218) |
Net loans receivable | 2,479,796 | 2,632,367 | $ 2,479,796 |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 775,168 | 705,748 | |
Construction and Land Development Portfolio Segment [Member] | |||
Loans receivable | 153,132 | 142,821 | |
Commercial Portfolio Segment [Member] | |||
Loans receivable | 250,650 | 200,188 | |
Owner Occupied Real Estate [Member] | |||
Loans receivable | 496,301 | 475,206 | |
Consumer Portfolio Segment [Member] | |||
Loans receivable | 87,208 | 102,368 | |
Residential Portfolio Segment [Member] | |||
Loans receivable | 496,963 | 395,174 | |
Paycheck Protection Program CARES Act [Member] | |||
Loans receivable | $ 248,610 | $ 636,637 |
Note 6 - Loans Receivable and_5
Note 6 - Loans Receivable and Allowance for Loan Losses - Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Beginning balance | $ 16,110 | $ 11,040 | $ 12,975 | $ 9,266 | |
Charge-offs | (1) | (52) | (108) | (266) | |
Recoveries | 209 | 13 | 451 | 51 | |
Provision for loan losses | 900 | 850 | 3,900 | 2,800 | |
Ending balance | 17,218 | 11,851 | 17,218 | 11,851 | |
Allowance for loan losses, individually evaluated for impairment | 1,935 | 1,935 | $ 591 | ||
Allowance for loan losses, collectively evaluated for impairment | 15,283 | 15,283 | 12,384 | ||
Total allowance for loan losses | 17,218 | 11,851 | 17,218 | 11,851 | 12,975 |
Loans evaluated individually | 19,986 | 19,986 | 17,969 | ||
Loans evaluated collectively | 2,488,046 | 2,488,046 | 2,640,173 | ||
Total loans receivable | 2,508,032 | 2,508,032 | 2,658,142 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Beginning balance | 5,919 | 3,732 | 4,394 | 3,043 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision for loan losses | 265 | 235 | 1,790 | 924 | |
Ending balance | 6,184 | 3,967 | 6,184 | 3,967 | |
Allowance for loan losses, individually evaluated for impairment | 1,401 | 1,401 | 418 | ||
Allowance for loan losses, collectively evaluated for impairment | 4,783 | 4,783 | 3,976 | ||
Total allowance for loan losses | 6,184 | 3,967 | 6,184 | 3,967 | 4,394 |
Loans evaluated individually | 4,931 | 4,931 | 9,048 | ||
Loans evaluated collectively | 770,237 | 770,237 | 696,700 | ||
Total loans receivable | 775,168 | 775,168 | 705,748 | ||
Construction and Land Development Portfolio Segment [Member] | |||||
Beginning balance | 1,133 | 952 | 948 | 688 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 2 | |
Provision for loan losses | (43) | 112 | 142 | 374 | |
Ending balance | 1,090 | 1,064 | 1,090 | 1,064 | |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 1,090 | 1,090 | 948 | ||
Total allowance for loan losses | 1,090 | 1,064 | 1,090 | 1,064 | 948 |
Loans evaluated individually | 0 | 0 | |||
Loans evaluated collectively | 153,132 | 153,132 | 142,821 | ||
Total loans receivable | 153,132 | 153,132 | 142,821 | ||
Commercial Portfolio Segment [Member] | |||||
Beginning balance | 1,503 | 1,431 | 1,367 | 931 | |
Charge-offs | 0 | (33) | (60) | (84) | |
Recoveries | 12 | 11 | 162 | 38 | |
Provision for loan losses | 181 | 74 | 227 | 598 | |
Ending balance | 1,696 | 1,483 | 1,696 | 1,483 | |
Allowance for loan losses, individually evaluated for impairment | 53 | 53 | 51 | ||
Allowance for loan losses, collectively evaluated for impairment | 1,643 | 1,643 | 1,316 | ||
Total allowance for loan losses | 1,696 | 1,483 | 1,696 | 1,483 | 1,367 |
Loans evaluated individually | 2,558 | 2,558 | 2,963 | ||
Loans evaluated collectively | 248,092 | 248,092 | 197,225 | ||
Total loans receivable | 250,650 | 250,650 | 200,188 | ||
Owner Occupied Real Estate [Member] | |||||
Beginning balance | 2,440 | 1,995 | 2,374 | 2,292 | |
Charge-offs | 0 | 0 | 0 | (48) | |
Recoveries | 48 | 0 | 88 | 1 | |
Provision for loan losses | 420 | (8) | 446 | (258) | |
Ending balance | 2,908 | 1,987 | 2,908 | 1,987 | |
Allowance for loan losses, individually evaluated for impairment | 481 | 481 | 122 | ||
Allowance for loan losses, collectively evaluated for impairment | 2,427 | 2,427 | 2,252 | ||
Total allowance for loan losses | 2,908 | 1,987 | 2,908 | 1,987 | 2,374 |
Loans evaluated individually | 9,651 | 9,651 | 3,955 | ||
Loans evaluated collectively | 486,650 | 486,650 | 471,251 | ||
Total loans receivable | 496,301 | 496,301 | 475,206 | ||
Consumer Portfolio Segment [Member] | |||||
Beginning balance | 717 | 675 | 723 | 590 | |
Charge-offs | (1) | (2) | (48) | (67) | |
Recoveries | 149 | 2 | 201 | 10 | |
Provision for loan losses | (213) | 6 | (224) | 148 | |
Ending balance | 652 | 681 | 652 | 681 | |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 652 | 652 | 723 | ||
Total allowance for loan losses | 652 | 681 | 652 | 681 | 723 |
Loans evaluated individually | 1,154 | 1,154 | 1,302 | ||
Loans evaluated collectively | 86,054 | 86,054 | 101,066 | ||
Total loans receivable | 87,208 | 87,208 | 102,368 | ||
Residential Portfolio Segment [Member] | |||||
Beginning balance | 4,270 | 2,255 | 3,025 | 1,705 | |
Charge-offs | 0 | (17) | 0 | (67) | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision for loan losses | 282 | 429 | 1,527 | 1,029 | |
Ending balance | 4,552 | 2,667 | 4,552 | 2,667 | |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 4,552 | 4,552 | 3,025 | ||
Total allowance for loan losses | 4,552 | 2,667 | 4,552 | 2,667 | 3,025 |
Loans evaluated individually | 1,682 | 1,682 | 701 | ||
Loans evaluated collectively | 495,281 | 495,281 | 394,473 | ||
Total loans receivable | 496,963 | 496,963 | 395,174 | ||
Paycheck Protection Program CARES Act [Member] | |||||
Beginning balance | 0 | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Ending balance | 0 | 0 | 0 | 0 | |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 0 | 0 | 0 | ||
Total allowance for loan losses | 0 | 0 | 0 | 0 | 0 |
Loans evaluated individually | 10 | 10 | 0 | ||
Loans evaluated collectively | 248,600 | 248,600 | 636,637 | ||
Total loans receivable | 248,610 | 248,610 | 636,637 | ||
Unallocated Financing Receivables [Member] | |||||
Beginning balance | 128 | 0 | 144 | 17 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision for loan losses | 8 | 2 | (8) | (15) | |
Ending balance | 136 | 2 | 136 | 2 | |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 136 | 136 | 144 | ||
Total allowance for loan losses | 136 | $ 2 | 136 | $ 2 | 144 |
Loans evaluated individually | 0 | 0 | 0 | ||
Loans evaluated collectively | 0 | 0 | 0 | ||
Total loans receivable | $ 0 | $ 0 | $ 0 |
Note 6 - Loans Receivable and_6
Note 6 - Loans Receivable and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
With no related allowance - Recorded investment | $ 12,013 | $ 12,842 |
With no related allowance - Unpaid principal balance | 12,501 | 13,565 |
With an related allowance - Recorded investment | 7,973 | 5,127 |
With related allowance, Unpaid principal balance | 8,652 | 5,682 |
Related allowance | 1,935 | 591 |
Recorded investment | 19,986 | 17,969 |
Unpaid principal balance | 21,153 | 19,247 |
Commercial Real Estate Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | 344 | 5,033 |
With no related allowance - Unpaid principal balance | 351 | 5,040 |
With an related allowance - Recorded investment | 4,587 | 4,015 |
With related allowance, Unpaid principal balance | 5,108 | 4,536 |
Related allowance | 1,401 | 418 |
Recorded investment | 4,931 | 9,048 |
Unpaid principal balance | 5,459 | 9,576 |
Construction and Land Development Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | 0 | 0 |
With no related allowance - Unpaid principal balance | 0 | 0 |
With an related allowance - Recorded investment | 0 | 0 |
With related allowance, Unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | 2,295 | 2,608 |
With no related allowance - Unpaid principal balance | 2,296 | 2,794 |
With an related allowance - Recorded investment | 263 | 355 |
With related allowance, Unpaid principal balance | 402 | 371 |
Related allowance | 53 | 51 |
Recorded investment | 2,558 | 2,963 |
Unpaid principal balance | 2,698 | 3,165 |
Owner Occupied Real Estate [Member] | ||
With no related allowance - Recorded investment | 6,528 | 3,198 |
With no related allowance - Unpaid principal balance | 6,676 | 3,407 |
With an related allowance - Recorded investment | 3,123 | 757 |
With related allowance, Unpaid principal balance | 3,142 | 775 |
Related allowance | 481 | 122 |
Recorded investment | 9,651 | 3,955 |
Unpaid principal balance | 9,818 | 4,182 |
Consumer Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | 1,154 | 1,302 |
With no related allowance - Unpaid principal balance | 1,419 | 1,556 |
With an related allowance - Recorded investment | 0 | 0 |
With related allowance, Unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Recorded investment | 1,154 | 1,302 |
Unpaid principal balance | 1,419 | 1,556 |
Residential Portfolio Segment [Member] | ||
With no related allowance - Recorded investment | 1,682 | 701 |
With no related allowance - Unpaid principal balance | 1,749 | 768 |
With an related allowance - Recorded investment | 0 | 0 |
With related allowance, Unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Recorded investment | 1,682 | 701 |
Unpaid principal balance | 1,749 | 768 |
Paycheck Protection Program CARES Act [Member] | ||
With no related allowance - Recorded investment | 10 | 0 |
With no related allowance - Unpaid principal balance | 10 | 0 |
With an related allowance - Recorded investment | 0 | 0 |
With related allowance, Unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Recorded investment | 10 | 0 |
Unpaid principal balance | $ 10 | $ 0 |
Note 6 - Loans Receivable and_7
Note 6 - Loans Receivable and Allowance for Loan Losses - Impaired Loans, Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
With no related allowance recorded - Average recorded investment | $ 8,161 | $ 14,478 | $ 8,750 | $ 14,066 |
With no related allowance recorded - Interest income recognized | 68 | 88 | 89 | 243 |
With related allowance - Average recorded investment | 5,456 | 5,033 | 5,561 | 5,935 |
With related allowance - Interest income recognized | 13 | 1 | 26 | 18 |
Average recorded investment | 13,617 | 19,511 | 14,311 | 20,001 |
Interest income recognized | 81 | 89 | 115 | 261 |
Commercial Real Estate Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | 440 | 6,534 | 385 | 6,484 |
With no related allowance recorded - Interest income recognized | 2 | 69 | 2 | 207 |
With related allowance - Average recorded investment | 4,086 | 4,167 | 4,158 | 4,153 |
With related allowance - Interest income recognized | 3 | 0 | 6 | 0 |
Average recorded investment | 4,526 | 10,701 | 4,543 | 10,637 |
Interest income recognized | 5 | 69 | 8 | 207 |
Construction and Land Development Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | 0 | 0 | 0 | 0 |
With no related allowance recorded - Interest income recognized | 0 | 0 | 0 | 0 |
With related allowance - Average recorded investment | 0 | 0 | 0 | 0 |
With related allowance - Interest income recognized | 0 | 0 | 0 | 0 |
Average recorded investment | 0 | 0 | 0 | 0 |
Interest income recognized | 0 | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | 2,298 | 2,615 | 2,297 | 2,607 |
With no related allowance recorded - Interest income recognized | 0 | 0 | 0 | 1 |
With related allowance - Average recorded investment | 265 | 37 | 263 | 479 |
With related allowance - Interest income recognized | 0 | 0 | 0 | 0 |
Average recorded investment | 2,563 | 2,652 | 2,560 | 3,086 |
Interest income recognized | 0 | 0 | 0 | 1 |
Owner Occupied Real Estate [Member] | ||||
With no related allowance recorded - Average recorded investment | 3,387 | 3,491 | 3,892 | 3,051 |
With no related allowance recorded - Interest income recognized | 52 | 13 | 73 | 21 |
With related allowance - Average recorded investment | 1,105 | 819 | 1,140 | 1,273 |
With related allowance - Interest income recognized | 10 | 1 | 20 | 17 |
Average recorded investment | 4,492 | 4,310 | 5,032 | 4,324 |
Interest income recognized | 62 | 14 | 93 | 38 |
Consumer Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | 1,204 | 1,114 | 1,227 | 1,156 |
With no related allowance recorded - Interest income recognized | 14 | 6 | 14 | 13 |
With related allowance - Average recorded investment | 0 | 10 | 0 | 0 |
With related allowance - Interest income recognized | 0 | 0 | 0 | 0 |
Average recorded investment | 1,204 | 1,124 | 1,227 | 1,156 |
Interest income recognized | 14 | 6 | 14 | 13 |
Residential Portfolio Segment [Member] | ||||
With no related allowance recorded - Average recorded investment | 830 | 724 | 946 | 768 |
With no related allowance recorded - Interest income recognized | 0 | 0 | 0 | 1 |
With related allowance - Average recorded investment | 0 | 0 | 0 | 30 |
With related allowance - Interest income recognized | 0 | 0 | 0 | 1 |
Average recorded investment | 830 | 724 | 946 | 798 |
Interest income recognized | 0 | 0 | 0 | 2 |
Paycheck Protection Program CARES Act [Member] | ||||
With no related allowance recorded - Average recorded investment | 2 | 0 | 3 | 0 |
With no related allowance recorded - Interest income recognized | 0 | 0 | 0 | 0 |
With related allowance - Average recorded investment | 0 | 0 | 0 | 0 |
With related allowance - Interest income recognized | 0 | 0 | 0 | 0 |
Average recorded investment | 2 | 0 | 3 | 0 |
Interest income recognized | $ 0 | $ 0 | $ 0 | $ 0 |
Note 6 - Loans Receivable and_8
Note 6 - Loans Receivable and Allowance for Loan Losses - Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans receivable | $ 2,508,032 | $ 2,658,142 |
Loans receivable greater than 90 days and accruing | 13 | 612 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 21 | 2,321 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 4,504 | 938 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 12,945 | 12,858 |
Financial Asset, Past Due [Member] | ||
Loans receivable | 17,470 | 16,117 |
Financial Asset, Not Past Due [Member] | ||
Loans receivable | 2,490,562 | 2,642,025 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 775,168 | 705,748 |
Loans receivable greater than 90 days and accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 0 | 97 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 4,303 | 4,421 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans receivable | 4,303 | 4,518 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans receivable | 770,865 | 701,230 |
Construction and Land Development Portfolio Segment [Member] | ||
Loans receivable | 153,132 | 142,821 |
Loans receivable greater than 90 days and accruing | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans receivable | 153,132 | 142,821 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 250,650 | 200,188 |
Loans receivable greater than 90 days and accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 0 | 1,648 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 2,558 | 2,963 |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans receivable | 2,558 | 4,611 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans receivable | 248,092 | 195,577 |
Owner Occupied Real Estate [Member] | ||
Loans receivable | 496,301 | 475,206 |
Loans receivable greater than 90 days and accruing | 0 | 0 |
Owner Occupied Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 0 | 581 |
Owner Occupied Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 4,461 | 813 |
Owner Occupied Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 3,169 | 2,859 |
Owner Occupied Real Estate [Member] | Financial Asset, Past Due [Member] | ||
Loans receivable | 7,630 | 4,253 |
Owner Occupied Real Estate [Member] | Financial Asset, Not Past Due [Member] | ||
Loans receivable | 488,671 | 470,953 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 87,208 | 102,368 |
Loans receivable greater than 90 days and accruing | 13 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 21 | 92 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 0 | 28 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 1,167 | 1,302 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans receivable | 1,188 | 1,422 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans receivable | 86,020 | 100,946 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 496,963 | 395,174 |
Loans receivable greater than 90 days and accruing | 0 | 612 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 1,738 | 1,313 |
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans receivable | 1,738 | 1,313 |
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans receivable | 495,225 | 393,861 |
Paycheck Protection Program CARES Act [Member] | ||
Loans receivable | 248,610 | 636,637 |
Loans receivable greater than 90 days and accruing | 0 | 0 |
Paycheck Protection Program CARES Act [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 0 | 0 |
Paycheck Protection Program CARES Act [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 43 | 0 |
Paycheck Protection Program CARES Act [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 10 | 0 |
Paycheck Protection Program CARES Act [Member] | Financial Asset, Past Due [Member] | ||
Loans receivable | 53 | 0 |
Paycheck Protection Program CARES Act [Member] | Financial Asset, Not Past Due [Member] | ||
Loans receivable | $ 248,557 | $ 636,637 |
Note 6 - Loans Receivable and_9
Note 6 - Loans Receivable and Allowance for Loan Losses - Loans by Internal Risk Rating (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans receivable | $ 2,508,032 | $ 2,658,142 |
Pass [Member] | ||
Loans receivable | 2,487,858 | 2,644,105 |
Special Mention [Member] | ||
Loans receivable | 238 | 599 |
Substandard [Member] | ||
Loans receivable | 19,936 | 13,438 |
Doubtful [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 775,168 | 705,748 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 770,242 | 701,151 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 80 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 4,926 | 4,517 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | ||
Loans receivable | 153,132 | 142,821 |
Construction and Land Development Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 153,132 | 142,821 |
Construction and Land Development Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 250,650 | 200,188 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 248,092 | 197,225 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 2,558 | 2,963 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | 0 | 0 |
Owner Occupied Real Estate [Member] | ||
Loans receivable | 496,301 | 475,206 |
Owner Occupied Real Estate [Member] | Pass [Member] | ||
Loans receivable | 486,457 | 470,732 |
Owner Occupied Real Estate [Member] | Special Mention [Member] | ||
Loans receivable | 238 | 519 |
Owner Occupied Real Estate [Member] | Substandard [Member] | ||
Loans receivable | 9,606 | 3,955 |
Owner Occupied Real Estate [Member] | Doubtful [Member] | ||
Loans receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 87,208 | 102,368 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 86,054 | 101,066 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 1,154 | 1,302 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 496,963 | 395,174 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 495,281 | 394,473 |
Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 0 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 1,682 | 701 |
Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | 0 | 0 |
Paycheck Protection Program CARES Act [Member] | ||
Loans receivable | 248,610 | 636,637 |
Paycheck Protection Program CARES Act [Member] | Pass [Member] | ||
Loans receivable | 248,600 | 636,637 |
Paycheck Protection Program CARES Act [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 0 |
Paycheck Protection Program CARES Act [Member] | Substandard [Member] | ||
Loans receivable | 10 | 0 |
Paycheck Protection Program CARES Act [Member] | Doubtful [Member] | ||
Loans receivable | $ 0 | $ 0 |
Note 6 - Loans Receivable an_10
Note 6 - Loans Receivable and Allowance for Loan Losses - Non-accrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Non-accrual loans | $ 12,932 | $ 12,246 |
Commercial Real Estate Portfolio Segment [Member] | ||
Non-accrual loans | 4,303 | 4,421 |
Construction and Land Development Portfolio Segment [Member] | ||
Non-accrual loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Non-accrual loans | 2,558 | 2,963 |
Owner Occupied Real Estate [Member] | ||
Non-accrual loans | 3,169 | 2,859 |
Consumer Portfolio Segment [Member] | ||
Non-accrual loans | 1,154 | 1,302 |
Residential Portfolio Segment [Member] | ||
Non-accrual loans | 1,738 | 701 |
Paycheck Protection Program CARES Act [Member] | ||
Non-accrual loans | $ 10 | $ 0 |
Note 6 - Loans Receivable an_11
Note 6 - Loans Receivable and Allowance for Loan Losses - Troubled Debt Restructurings (Details) $ in Thousands | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) |
Number of Loans | 0 | 1 |
Troubled debt restructurings, accrual status | $ 0 | $ 4,530 |
Troubled debt restructurings, non-accrual status | 0 | 0 |
Troubled debt restructurings | $ 0 | $ 4,530 |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of Loans | 0 | 1 |
Troubled debt restructurings, accrual status | $ 0 | $ 4,530 |
Troubled debt restructurings, non-accrual status | 0 | 0 |
Troubled debt restructurings | $ 0 | $ 4,530 |
Construction and Land Development Portfolio Segment [Member] | ||
Number of Loans | 0 | 0 |
Troubled debt restructurings, accrual status | $ 0 | $ 0 |
Troubled debt restructurings, non-accrual status | 0 | 0 |
Troubled debt restructurings | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | ||
Number of Loans | 0 | 0 |
Troubled debt restructurings, accrual status | $ 0 | $ 0 |
Troubled debt restructurings, non-accrual status | 0 | 0 |
Troubled debt restructurings | $ 0 | $ 0 |
Owner Occupied Real Estate [Member] | ||
Number of Loans | 0 | 0 |
Troubled debt restructurings, accrual status | $ 0 | $ 0 |
Troubled debt restructurings, non-accrual status | 0 | 0 |
Troubled debt restructurings | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | ||
Number of Loans | 0 | 0 |
Troubled debt restructurings, accrual status | $ 0 | $ 0 |
Troubled debt restructurings, non-accrual status | 0 | 0 |
Troubled debt restructurings | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | ||
Number of Loans | 0 | 0 |
Troubled debt restructurings, accrual status | $ 0 | $ 0 |
Troubled debt restructurings, non-accrual status | 0 | 0 |
Troubled debt restructurings | $ 0 | $ 0 |
Paycheck Protection Program CARES Act [Member] | ||
Number of Loans | 0 | 0 |
Troubled debt restructurings, accrual status | $ 0 | $ 0 |
Troubled debt restructurings, non-accrual status | 0 | 0 |
Troubled debt restructurings | $ 0 | $ 0 |
Note 7 - Other Borrowings (Deta
Note 7 - Other Borrowings (Details Textual) - Federal Home Loan Bank Advances [Member] - Paycheck Protection Program Liquidity Facility [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Instrument, Collateral Amount | $ 0 | $ 634,000 |
Debt Instrument, Face Amount | $ 634,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 0.35% |
Note 7 - Other Borrowings - Sho
Note 7 - Other Borrowings - Short-term Borrowings (Details) - Paycheck Protection Program Liquidity Facility [Member] - Federal Reserve Bank Advances [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Liquidity Facility borrowings, balance | $ 0 | $ 633,866 |
Liquidity Facility borrowings, weighted average interest rate | 0.00% | 0.35% |
Note 8 - Fair Value of Financ_3
Note 8 - Fair Value of Financial Instruments (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Servicing Asset, Total | $ 214,300,000 | $ 214,300,000 | $ 208,700,000 | ||
Interest and Fee Income, Loans Held-for-sale, Mortgages | $ 123,000 | $ 248,000 | $ 599,000 | $ 497,000 | |
SBA Servicing Assets [Member] | |||||
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 10 Percent Adverse Change in Key Assumptions, Percent | 10.00% | 10.00% | 10.00% | ||
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 20 Percent Adverse Change in Key Assumptions | 20.00% | 20.00% | 20.00% | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Number of Mortgage Loans Held for Sale | 0 | 0 | 0 | ||
Shareholder Service [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 567,000 | $ 510,000 | $ 1,600,000 | $ 1,400,000 |
Note 8 - Fair Value of Financ_4
Note 8 - Fair Value of Financial Instruments - Financial Assets Measured on a Recurring Basis (Details) - USD ($) | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2012 |
Investment securities available for sale, at fair value | $ 880,494,000 | $ 528,508,000 | $ 880,494,000 | ||||
Equity securities | 9,039,000 | $ 9,231,000 | |||||
SBA Servicing Assets | 4,572,000 | $ 4,641,000 | 4,626,000 | $ 4,634,000 | $ 4,604,000 | $ 4,447,000 | |
US Government Agencies Debt Securities [Member] | |||||||
Investment securities available for sale, at fair value | 27,026,000 | 31,886,000 | |||||
Collateralized Mortgage Obligations [Member] | |||||||
Investment securities available for sale, at fair value | 310,920,000 | 221,546,000 | |||||
Agency Mortgage-backed Securities [Member] | |||||||
Investment securities available for sale, at fair value | 357,100,000 | 150,528,000 | |||||
US States and Political Subdivisions Debt Securities [Member] | |||||||
Investment securities available for sale, at fair value | 8,195,000 | 8,225,000 | |||||
Corporate Debt Securities [Member] | |||||||
Investment securities available for sale, at fair value | 177,253,000 | 116,323,000 | |||||
Fair Value, Recurring [Member] | |||||||
Investment securities available for sale, at fair value | 880,494,000 | 528,508,000 | |||||
Equity securities | 9,231,000 | 9,039 | |||||
Mortgage Loans Held for Sale | 12,082,000 | 50,387,000 | |||||
SBA Servicing Assets | 4,572,000 | 4,626,000 | |||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Investment securities available for sale, at fair value | |||||||
Equity securities | 9,231,000 | 9,039 | |||||
Mortgage Loans Held for Sale | 0 | 0 | |||||
SBA Servicing Assets | 0 | 0 | |||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Investment securities available for sale, at fair value | 877,891,000 | 525,877,000 | |||||
Equity securities | 0 | 0 | |||||
Mortgage Loans Held for Sale | 12,082,000 | 50,387,000 | |||||
SBA Servicing Assets | 0 | 0 | |||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Investment securities available for sale, at fair value | 2,603,000 | 2,631,000 | |||||
Equity securities | 0 | 0 | |||||
Mortgage Loans Held for Sale | 0 | 0 | |||||
SBA Servicing Assets | 4,572,000 | 4,626,000 | |||||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||||||
Investment securities available for sale, at fair value | 27,026,000 | 31,886,000 | |||||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Investment securities available for sale, at fair value | 27,026,000 | 31,886,000 | |||||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | |||||||
Investment securities available for sale, at fair value | 310,920,000 | 221,546,000 | |||||
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Investment securities available for sale, at fair value | 310,920,000 | 221,546,000 | |||||
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Fair Value, Recurring [Member] | Agency Mortgage-backed Securities [Member] | |||||||
Investment securities available for sale, at fair value | 357,100,000 | 150,528,000 | |||||
Fair Value, Recurring [Member] | Agency Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Fair Value, Recurring [Member] | Agency Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Investment securities available for sale, at fair value | 357,100,000 | 150,528,000 | |||||
Fair Value, Recurring [Member] | Agency Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||||||
Investment securities available for sale, at fair value | 8,195,000 | 8,225,000 | |||||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Investment securities available for sale, at fair value | 8,195,000 | 8,225,000 | |||||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||||||
Investment securities available for sale, at fair value | 177,253,000 | 116,323,000 | |||||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Investment securities available for sale, at fair value | 174,650,000 | 113,692,000 | |||||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Investment securities available for sale, at fair value | 2,603,000 | 2,631,000 | |||||
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member] | |||||||
Derivative Asset | 593,000 | 1,580,000 | |||||
Derivative Liability | 0 | 0 | |||||
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liability | 0 | 0 | |||||
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Derivative Asset | 593,000 | 1,580,000 | |||||
Derivative Liability | 0 | 0 | |||||
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liability | 0 | 0 | |||||
Fair Value, Recurring [Member] | Best Efforts Forward Loan sales Commitments [Member] | |||||||
Derivative Asset | 67,000 | 2,000 | |||||
Derivative Liability | 109,000 | 612,000 | |||||
Fair Value, Recurring [Member] | Best Efforts Forward Loan sales Commitments [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liability | 0 | 0 | |||||
Fair Value, Recurring [Member] | Best Efforts Forward Loan sales Commitments [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Derivative Asset | 67,000 | 2,000 | |||||
Derivative Liability | 109,000 | 612,000 | |||||
Fair Value, Recurring [Member] | Best Efforts Forward Loan sales Commitments [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liability | 0 | 0 | |||||
Fair Value, Recurring [Member] | Mandatory Forward Loan Sales Commitments [Member] | |||||||
Derivative Asset | 43,000 | 0 | |||||
Derivative Liability | 33,000 | 800,000 | |||||
Fair Value, Recurring [Member] | Mandatory Forward Loan Sales Commitments [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liability | 0 | 0 | |||||
Fair Value, Recurring [Member] | Mandatory Forward Loan Sales Commitments [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Derivative Asset | 43,000 | 0 | |||||
Derivative Liability | 33,000 | 800,000 | |||||
Fair Value, Recurring [Member] | Mandatory Forward Loan Sales Commitments [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liability | $ 0 | $ 0 |
Note 8 - Fair Value of Financ_5
Note 8 - Fair Value of Financial Instruments - SBA Servicing Assets Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balance | $ 4,641 | $ 4,604 | $ 4,626 | $ 4,447 |
Additions | 178 | 173 | 491 | 488 |
Fair value adjustments | (247) | (143) | (545) | (301) |
Balance | $ 4,572 | $ 4,634 | $ 4,572 | $ 4,634 |
Note 8 - Fair Value of Financ_6
Note 8 - Fair Value of Financial Instruments - Assets Measured on a Recurring Basis Using Significant Unobservable Inputs (Details) - Fair Value, Inputs, Level 3 [Member] - Corporate Debt Securities [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balance | $ 2,603 | $ 2,665 | $ 2,631 | $ 2,819 |
Unrealized gains (losses) | 0 | (34) | (28) | (188) |
Proceeds from sales | 0 | 0 | 0 | 0 |
Realized losses | 0 | 0 | 0 | 0 |
Balance | $ 2,603 | $ 2,631 | $ 2,603 | $ 2,631 |
Note 8 - Fair Value of Financ_7
Note 8 - Fair Value of Financial Instruments - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Impaired loans | $ 6,182 | $ 5,678 |
Other real estate owned | 168 | 364 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 6,182 | 5,678 |
Other real estate owned | $ 168 | $ 364 |
Note 8 - Fair Value of Financ_8
Note 8 - Fair Value of Financial Instruments - Quantitative Information about Level 3 Assets (Details) $ in Thousands | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Valuation Technique, Discounted Cash Flow [Member] | Corporate Debt Securities [Member] | |||
Fair Value | $ 2,603 | $ 2,631 | |
Valuation Technique, Discounted Cash Flow [Member] | Corporate Debt Securities [Member] | Measurement Input, Discount Rate [Member] | |||
Corporate bonds | 0.0337 | 0.0348 | |
Valuation Technique, Discounted Cash Flow [Member] | SBA Servicing Assets [Member] | |||
Fair Value | $ 4,572 | $ 4,626 | |
Valuation Technique, Discounted Cash Flow [Member] | SBA Servicing Assets [Member] | Measurement Input, Prepayment Rate [Member] | |||
SBA servicing assets | (0.1450) | (0.1322) | |
Valuation Technique, Discounted Cash Flow [Member] | SBA Servicing Assets [Member] | Measurement Input, Prepayment Rate [Member] | Weighted Average [Member] | |||
SBA servicing assets | (0.1000) | (0.1000) | |
Valuation, Market Approach [Member] | Impaired Loans [Member] | |||
Fair Value | [1],[2] | $ 6,182 | $ 5,678 |
Valuation, Market Approach [Member] | Impaired Loans [Member] | Measurement Input, Liquidation Expenses [Member] | Weighted Average [Member] | |||
Impaired loans | [3] | (0.21) | 0.12 |
Valuation, Market Approach [Member] | Impaired Loans [Member] | Measurement Input, Liquidation Expenses [Member] | Minimum [Member] | |||
Impaired loans | 0.10 | 0 | |
Valuation, Market Approach [Member] | Impaired Loans [Member] | Measurement Input, Liquidation Expenses [Member] | Maximum [Member] | |||
Impaired loans | 0.42 | 0.23 | |
Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | |||
Fair Value | [1],[2] | $ 168 | $ 364 |
Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | Measurement Input, Liquidation Expenses [Member] | |||
Other real estate owned | [3] | (0.06) | |
Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | Measurement Input, Liquidation Expenses [Member] | Weighted Average [Member] | |||
Other real estate owned | [3] | 0.13 | |
Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | Measurement Input, Liquidation Expenses [Member] | Minimum [Member] | |||
Other real estate owned | 0.07 | ||
Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | Measurement Input, Liquidation Expenses [Member] | Maximum [Member] | |||
Other real estate owned | 0.16 | ||
[1] | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. | ||
[2] | Fair value is generally determined through independent appraisals of the underlying collateral, which include Level 3 inputs that are not identifiable. | ||
[3] | The range and weighted average of qualitative factors such as economic conditions and estimated liquidation expenses are presented as a percent of the appraised value. |
Note 8 - Fair Value of Financ_9
Note 8 - Fair Value of Financial Instruments - Mortgage Loans Held for Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Aggregate Unpaid Principal Balance | $ 11,725 | $ 48,109 |
Excess Carrying Amount Over Aggregate Unpaid Principle Balance | 357 | 2,278 |
Reported Value Measurement [Member] | ||
Carrying Amount | $ 12,082 | $ 50,387 |
Note 8 - Fair Value of Finan_10
Note 8 - Fair Value of Financial Instruments - SBA Servicing Assets Sensitivity Analysis (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | |
Fair Value of SBA Servicing Asset | $ 4,572 | $ 4,626 | $ 4,641 | $ 4,634 | $ 4,604 | $ 4,447 |
Composition of SBA loans serviced for others | 100.00% | 100.00% | ||||
Weighted Average Remaining Term (in years) (Year) | 19 years 7 months 6 days | 20 years | ||||
Prepayment Speed | 14.50% | 13.22% | ||||
Effect on fair value of a 10% increase | $ (175) | $ (170) | ||||
Effect on fair value of a 20% increase | $ (338) | $ (329) | ||||
Weighted Average Discount Rate | 10.00% | 10.00% | ||||
Effect on fair value of a 10% increase | $ (144) | $ (152) | ||||
Effect on fair value of a 20% increase | $ (279) | $ (295) | ||||
Fixed Rate SBA Loans [Member] | ||||||
Composition of SBA loans serviced for others | 4.00% | 2.00% | ||||
Adjustable Rate SBA Loans [Member] | ||||||
Composition of SBA loans serviced for others | 96.00% | 98.00% |
Note 8 - Fair Value of Finan_11
Note 8 - Fair Value of Financial Instruments - Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2012 |
Investment securities available for sale, at fair value | $ 880,494 | $ 528,508 | $ 880,494 | ||||
Equity securities | 9,039 | $ 9,231 | |||||
Fair Value of SBA Servicing Asset | 4,572 | $ 4,641 | 4,626 | $ 4,634 | $ 4,604 | $ 4,447 | |
Reported Value Measurement [Member] | |||||||
Cash and cash equivalents | 383,968 | 775,300 | |||||
Investment securities available for sale, at fair value | 880,494 | 528,508 | |||||
Investment securities held to maturity | 1,377,253 | 814,936 | |||||
Equity securities | 9,231 | 9,039 | |||||
Restricted stock | 3,510 | 3,039 | |||||
Loans held for sale | 16,991 | 53,370 | |||||
Loans receivable, net | 2,479,796 | 2,632,367 | |||||
Fair Value of SBA Servicing Asset | 4,572 | 4,626 | |||||
Accrued interest receivable | 15,080 | 16,120 | |||||
Demand, savings and money market | 4,774,603 | 3,827,390 | |||||
Time | 197,478 | 186,361 | |||||
Subordinated debt | 11,276 | 11,271 | |||||
Other borrowings | 0 | 633,866 | |||||
Accrued interest payable | 482 | 926 | |||||
Commitments to extend credit | 0 | 0 | |||||
Standby letters-of-credit | 0 | 0 | |||||
Reported Value Measurement [Member] | Interest Rate Lock Commitments [Member] | |||||||
Derivative asset | 593 | 1,580 | |||||
Derivative liability | 0 | 0 | |||||
Reported Value Measurement [Member] | Best Efforts Forward Loan sales Commitments [Member] | |||||||
Derivative asset | 67 | 2 | |||||
Derivative liability | 109 | 612 | |||||
Reported Value Measurement [Member] | Mandatory Forward Loan Sales Commitments [Member] | |||||||
Derivative asset | 43 | 0 | |||||
Derivative liability | 33 | 800 | |||||
Estimate of Fair Value Measurement [Member] | |||||||
Cash and cash equivalents | 383,968 | 775,300 | |||||
Investment securities available for sale, at fair value | 880,494 | 528,508 | |||||
Investment securities held to maturity | 1,373,183 | 836,972 | |||||
Equity securities | 9,231 | 9,039 | |||||
Restricted stock | 3,510 | 3,039 | |||||
Loans held for sale | 16,991 | 53,370 | |||||
Loans receivable, net | 2,470,627 | 2,618,104 | |||||
Fair Value of SBA Servicing Asset | 4,572 | 4,626 | |||||
Accrued interest receivable | 15,080 | 16,120 | |||||
Demand, savings and money market | 4,774,603 | 3,827,390 | |||||
Time | 197,702 | 187,292 | |||||
Subordinated debt | 8,551 | 8,026 | |||||
Other borrowings | 0 | 633,866 | |||||
Accrued interest payable | 482 | 926 | |||||
Commitments to extend credit | 0 | 0 | |||||
Standby letters-of-credit | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Interest Rate Lock Commitments [Member] | |||||||
Derivative asset | 593 | 1,580 | |||||
Derivative liability | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Best Efforts Forward Loan sales Commitments [Member] | |||||||
Derivative asset | 67 | 2 | |||||
Derivative liability | 109 | 612 | |||||
Estimate of Fair Value Measurement [Member] | Mandatory Forward Loan Sales Commitments [Member] | |||||||
Derivative asset | 43 | 0 | |||||
Derivative liability | 33 | 800 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Cash and cash equivalents | 383,968 | 775,300 | |||||
Investment securities available for sale, at fair value | 0 | 0 | |||||
Investment securities held to maturity | 0 | 0 | |||||
Equity securities | 9,231 | 9,039 | |||||
Restricted stock | 0 | 0 | |||||
Loans held for sale | 0 | 0 | |||||
Loans receivable, net | 0 | 0 | |||||
Fair Value of SBA Servicing Asset | 0 | 0 | |||||
Accrued interest receivable | 0 | 0 | |||||
Demand, savings and money market | 0 | 0 | |||||
Time | 0 | 0 | |||||
Subordinated debt | 0 | 0 | |||||
Other borrowings | 0 | 0 | |||||
Accrued interest payable | 0 | 0 | |||||
Commitments to extend credit | 0 | 0 | |||||
Standby letters-of-credit | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Lock Commitments [Member] | |||||||
Derivative asset | 0 | 0 | |||||
Derivative liability | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Best Efforts Forward Loan sales Commitments [Member] | |||||||
Derivative asset | 0 | 0 | |||||
Derivative liability | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Mandatory Forward Loan Sales Commitments [Member] | |||||||
Derivative asset | 0 | 0 | |||||
Derivative liability | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Cash and cash equivalents | 0 | 0 | |||||
Investment securities available for sale, at fair value | 877,891 | 525,877 | |||||
Investment securities held to maturity | 1,373,183 | 836,972 | |||||
Equity securities | 0 | ||||||
Restricted stock | 3,510 | 3,039 | |||||
Loans held for sale | 12,082 | 50,387 | |||||
Loans receivable, net | 0 | 0 | |||||
Fair Value of SBA Servicing Asset | 0 | 0 | |||||
Accrued interest receivable | 15,080 | 16,120 | |||||
Demand, savings and money market | 4,774,603 | 3,827,390 | |||||
Time | 197,702 | 187,292 | |||||
Subordinated debt | 0 | 0 | |||||
Other borrowings | 0 | 633,866 | |||||
Accrued interest payable | 482 | 926 | |||||
Commitments to extend credit | 0 | 0 | |||||
Standby letters-of-credit | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Lock Commitments [Member] | |||||||
Derivative asset | 593 | 1,580 | |||||
Derivative liability | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Best Efforts Forward Loan sales Commitments [Member] | |||||||
Derivative asset | 67 | 2 | |||||
Derivative liability | 109 | 612 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Mandatory Forward Loan Sales Commitments [Member] | |||||||
Derivative asset | 43 | 0 | |||||
Derivative liability | 33 | 800 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Cash and cash equivalents | 0 | 0 | |||||
Investment securities available for sale, at fair value | 2,603 | 2,631 | |||||
Investment securities held to maturity | 0 | 0 | |||||
Equity securities | 0 | ||||||
Restricted stock | 0 | 0 | |||||
Loans held for sale | 4,909 | 2,983 | |||||
Loans receivable, net | 2,470,627 | 2,618,104 | |||||
Fair Value of SBA Servicing Asset | 4,572 | 4,626 | |||||
Accrued interest receivable | 0 | 0 | |||||
Demand, savings and money market | 0 | 0 | |||||
Time | 0 | 0 | |||||
Subordinated debt | 8,551 | 8,026 | |||||
Other borrowings | 0 | 0 | |||||
Accrued interest payable | 0 | 0 | |||||
Commitments to extend credit | 0 | 0 | |||||
Standby letters-of-credit | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Lock Commitments [Member] | |||||||
Derivative asset | 0 | 0 | |||||
Derivative liability | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Best Efforts Forward Loan sales Commitments [Member] | |||||||
Derivative asset | 0 | 0 | |||||
Derivative liability | 0 | 0 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Mandatory Forward Loan Sales Commitments [Member] | |||||||
Derivative asset | 0 | 0 | |||||
Derivative liability | $ 0 | $ 0 |
Note 9 - Changes in Accumulat_3
Note 9 - Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |||||
Balance | $ 320,441 | $ 255,178 | $ 308,113 | $ 249,168 | $ 249,168 | ||||
Unrealized gain (loss) on securities | (3,103) | (801) | (4,266) | 1,423 | |||||
Total other comprehensive income (loss) | (2,730) | (91) | (2,775) | 2,921 | |||||
Balance | 323,513 | 302,938 | 323,513 | 302,938 | 308,113 | ||||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||||||
Balance | [1] | 985 | (1,275) | (1,275) | |||||
Unrealized gain (loss) on securities | [1] | (4,265) | 3,483 | 4,320 | |||||
Amounts reclassified from accumulated other comprehensive income to net income (2) | [1],[2] | (1) | (2,060) | (2,060) | |||||
Total other comprehensive income (loss) | [1] | (4,266) | 1,423 | 2,260 | |||||
Total change in accumulated other comprehensive income | [1] | (4,266) | 1,423 | 2,260 | |||||
Balance | [1] | (3,281) | 148 | (3,281) | 148 | 985 | |||
Accumulated Net Investment Gain (Loss) on Securities Transferred from Available-for-Sale to Held-to-Maturity [Member] | |||||||||
Balance | [1] | (3,814) | (6,066) | (6,066) | |||||
Unrealized gain (loss) on securities | [1] | 0 | 0 | 0 | |||||
Amounts reclassified from accumulated other comprehensive income to net income (2) | [1],[2] | 1,491 | 1,498 | 2,252 | |||||
Total other comprehensive income (loss) | [1] | 1,491 | 1,498 | 2,252 | |||||
Total change in accumulated other comprehensive income | [1] | 1,491 | 1,498 | 2,252 | |||||
Balance | [1] | (2,323) | (4,568) | (2,323) | (4,568) | (3,814) | |||
AOCI Attributable to Parent [Member] | |||||||||
Balance | (2,874) | (4,329) | (2,829) | [1] | (7,341) | [1] | (7,341) | [1] | |
Unrealized gain (loss) on securities | [1] | (4,265) | 3,483 | 4,320 | |||||
Amounts reclassified from accumulated other comprehensive income to net income (2) | [1],[2] | 1,490 | (562) | 192 | |||||
Total other comprehensive income (loss) | (2,730) | (91) | (2,775) | [1] | 2,921 | [1] | 4,512 | [1] | |
Total change in accumulated other comprehensive income | [1] | (2,775) | 2,921 | 4,512 | |||||
Balance | [1] | $ (5,604) | $ (4,420) | $ (5,604) | $ (4,420) | $ (2,829) | |||
[1] | All amounts are net of tax. Amounts in parentheses indicate reductions to other comprehensive income. | ||||||||
[2] | Reclassification amounts are reported as gains on sales of investment securities, impairment losses, and amortization of net unrealized losses on the Consolidated Statement of Income. |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity (Details Textual) - USD ($) | Aug. 26, 2020 | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2012 |
Stock Issued During Period, Shares, New Issues (in shares) | 2,000,000 | 2,000,000 | |||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | |||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 0 | $ 48,325,000 | |||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | 2,625,000 | $ 0 | |||||
Series A Preferred Stock [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,000,000 | ||||||
Preferred Stock, Dividend Rate, Percentage | 7.00% | ||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 25 | ||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 48,300,000 | ||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | $ 875,000 | $ 923,000 | $ 2,600,000 | ||||
Preferred Stock, Redemption Price Per Share (in dollars per share) | $ 3 |
Note 11 - Goodwill and Other _3
Note 11 - Goodwill and Other Intangibles - Summary of Goodwill and Other Intangibles (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balance | $ 0 | $ 5,011 | $ 0 | $ 5,011 |
Additions/Adjustments | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Impairment | 0 | (5,011) | 0 | (5,011) |
Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Note 12 - Derivatives and Ris_3
Note 12 - Derivatives and Risk Management Activities (Details Textual) Pure in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Designated as Hedging Instrument [Member] | ||
Derivative, Number of Instruments Held, Total | 0 | 0 |
Note 12 - Derivatives and Ris_4
Note 12 - Derivatives and Risk Management Activities - Amounts Recorded in Statement of Financial Condition (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Other Assets [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||
Derivative Asset, Fair Value | $ 67 | $ 2 |
Derivative Asset, Notional Amount | 15,592 | 2,069 |
Other Assets [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||
Derivative Asset, Fair Value | 43 | 0 |
Derivative Asset, Notional Amount | 9,128 | 0 |
Other Assets [Member] | Interest Rate Lock Commitments [Member] | ||
Derivative Asset, Fair Value | 593 | 1,580 |
Derivative Asset, Notional Amount | 27,969 | 48,223 |
Other Liabilities [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||
Derivative Liability, Fair Value | 109 | 612 |
Derivative Liability, Notional Amount | 12,377 | 46,154 |
Other Liabilities [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||
Derivative Liability, Fair Value | 33 | 800 |
Derivative Liability, Notional Amount | 2,530 | 48,373 |
Other Liabilities [Member] | Interest Rate Lock Commitments [Member] | ||
Derivative Liability, Fair Value | 0 | 0 |
Derivative Liability, Notional Amount | $ 0 | $ 0 |
Note 12 - Derivatives and Ris_5
Note 12 - Derivatives and Risk Management Activities - Derivative Instrument Gain (Loss) Recorded in Statement of Income (Details) - Mortgage Banking Income [Member] - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Best Efforts Forward Loan sales Commitments [Member] | Liability Derivatives [Member] | ||||
Derivative Gain (Loss), Net | $ 158 | $ 100 | $ 503 | $ (421) |
Mandatory Forward Loan Sales Commitments [Member] | Liability Derivatives [Member] | ||||
Derivative Gain (Loss), Net | 79 | (199) | 767 | (442) |
Asset Derivatives [Member] | Best Efforts Forward Loan sales Commitments [Member] | ||||
Derivative Gain (Loss), Net | 65 | (8) | 65 | (4) |
Asset Derivatives [Member] | Mandatory Forward Loan Sales Commitments [Member] | ||||
Derivative Gain (Loss), Net | 41 | 0 | 43 | (2) |
Interest Rate Lock Commitments [Member] | Liability Derivatives [Member] | ||||
Derivative Gain (Loss), Net | 0 | (1) | 0 | (1) |
Interest Rate Lock Commitments [Member] | Asset Derivatives [Member] | ||||
Derivative Gain (Loss), Net | $ (211) | $ (191) | $ (987) | $ 1,089 |
Note 13 - Revenue Recognition -
Note 13 - Revenue Recognition - Non-interest Income Segregated by Revenue Streams (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Non-interest income (out-of-scope of Topic 606) | $ 3,984 | $ 6,807 | $ 14,145 | $ 17,288 |
Total non-interest income | 7,317 | 10,031 | 25,272 | 25,000 |
Deposit Account [Member] | ||||
Non-interest income | 3,283 | 2,134 | 10,503 | 6,166 |
Other Non-interest Income From Customers [Member] | ||||
Non-interest income | 50 | 1,090 | 624 | 1,546 |
Loan and Servicing Fees Mortgage Banking and Other Revenue From Customers [Member] | ||||
Non-interest income | $ 3,333 | $ 3,224 | $ 11,127 | $ 7,712 |
Note 14 - Leases (Details Textu
Note 14 - Leases (Details Textual) | Sep. 30, 2021 | Sep. 30, 2020 |
Lessee, Operating Lease, Number of Leases | 44 | 41 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 19 years 25 days | 20 years 2 months 26 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.35% | 3.53% |
Minimum [Member] | ||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | 5 years |
Maximum [Member] | ||
Lessee, Operating Lease, Renewal Term (Year) | 10 years | 10 years |
Branch Stores [Member] | ||
Lessee, Operating Lease, Number of Leases | 20 | 19 |
Offices [Member] | ||
Lessee, Operating Lease, Number of Leases | 7 | 7 |
Leases for Equipment [Member] | ||
Lessee, Operating Lease, Number of Leases | 17 | 15 |
Note 14 - Leases - Operating Le
Note 14 - Leases - Operating Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Operating lease cost | $ 2,142 | $ 2,086 | $ 6,416 | $ 5,920 |
Sublease income | 0 | 0 | 0 | 0 |
Total lease cost | 2,142 | 2,086 | 6,416 | 5,920 |
Operating cash flows from operating leases | 2,097 | 1,893 | 6,167 | 5,432 |
New operating lease liability obligation | $ 52 | $ 5,121 | $ 8,174 | $ 5,310 |
Note 14 - Leases - Maturity Ana
Note 14 - Leases - Maturity Analysis of Operating Lease Liability Obligations (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2012 |
Within one year | $ 2,102 | $ 6,521 | ||
One to three years | 15,755 | 11,804 | ||
Three to five years | 14,960 | 10,529 | ||
More than five years | 85,180 | 77,596 | ||
Total undiscounted cash flows | 117,997 | 106,450 | ||
Discount on cash flows | (34,614) | (33,481) | ||
Total operating lease liability obligations | $ 83,383 | $ 77,576 | $ 72,969 | $ 83,383 |