Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Oct. 31, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000835324 | |
Entity Registrant Name | Stock Yards Bancorp, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 1-13661 | |
Entity Incorporation, State or Country Code | KY | |
Entity Tax Identification Number | 61-1137529 | |
Entity Address, Address Line One | 1040 East Main Street | |
Entity Address, City or Town | Louisville | |
Entity Address, State or Province | KY | |
Entity Address, Postal Zip Code | 40206 | |
City Area Code | 502 | |
Local Phone Number | 582-2571 | |
Title of 12(b) Security | Common stock, no par value | |
Trading Symbol | SYBT | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 29,321,895 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Assets | |||
Cash and due from banks | $ 79,538 | $ 82,515 | |
Federal funds sold and interest bearing due from banks | 113,499 | 84,852 | |
Total cash and cash equivalents | 193,037 | 167,367 | |
Mortgage loans held for sale, at fair value | 6,535 | 2,606 | |
Available for sale debt securities (amortized cost of $1,195,721 in 2023 and $1,297,977 in 2022, respectively) | 1,020,248 | 1,144,617 | |
Held to maturity debt securities (fair value of $397,418 in 2023 and $431,833 in 2022, respectively) | 445,205 | 473,217 | |
Federal Home Loan Bank stock, at cost | 26,241 | 10,928 | |
Loans | [1] | 5,617,084 | 5,205,918 |
Allowance for credit losses on loans | (78,075) | (73,531) | |
Net loans | 5,539,009 | 5,132,387 | |
Premises and equipment, net | 98,425 | 101,612 | |
Premises held for sale | 2,388 | 2,644 | |
Bank owned life insurance | 86,351 | 84,674 | |
Accrued interest receivable | 23,777 | 22,157 | |
Goodwill | 194,074 | 194,074 | |
Other assets | 246,669 | 134,988 | |
Total assets | 7,903,430 | 7,496,261 | |
Liabilities | |||
Non-interest bearing | 1,714,918 | 1,950,198 | |
Interest bearing | 4,687,889 | 4,441,054 | |
Total deposits | 6,402,807 | 6,391,252 | |
Securities sold under agreements to repurchase | 113,894 | 133,342 | |
Federal funds purchased | 11,518 | 8,789 | |
Subordinated debentures | 26,641 | 26,343 | |
Federal Home Loan Bank advances | 350,000 | 50,000 | |
Accrued interest payable | 1,836 | 660 | |
Other liabilities | 189,816 | 125,443 | |
Total liabilities | 7,096,512 | 6,735,829 | |
Commitments and contingent liabilities (Footnote 12) | |||
Stockholders’ equity | |||
Preferred stock, no par value. Authorized 1,000,000 shares; no shares issued or outstanding | 0 | 0 | |
Common stock, no par value. Authorized 40,000,000 shares; issued and outstanding 29,323,000 and 29,259,000 shares in 2023 and 2022, respectively | 58,579 | 58,367 | |
Additional paid-in capital | 384,399 | 377,703 | |
Retained earnings | 491,845 | 439,898 | |
Accumulated other comprehensive loss | (127,905) | (115,536) | |
Total stockholders’ equity | 806,918 | 760,432 | |
Total liabilities and equity | 7,903,430 | 7,496,261 | |
Core Deposits [Member] | |||
Assets | |||
Intangible | 12,693 | 14,958 | |
Customer Lists [Member] | |||
Assets | |||
Intangible | $ 8,778 | $ 10,032 | |
[1]Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Available for sale debt securities, amortized cost | $ 1,195,721 | $ 1,297,977 |
Held to maturity debt securities, fair value | $ 397,418 | $ 431,833 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, shares issued (in shares) | 29,323,000 | 29,259,000 |
Common stock, shares outstanding (in shares) | 29,323,000 | 29,259,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | ||
Interest income: | |||||
Loans, including fees | $ 78,234 | $ 56,750 | $ 219,329 | $ 152,105 | |
Federal funds sold and interest bearing due from banks | 1,640 | 2,450 | 4,885 | 3,845 | |
Mortgage loans held for sale | 55 | 103 | 173 | 177 | |
Federal Home Loan Bank stock | 499 | 172 | 939 | 328 | |
Investment securities: | |||||
Taxable | 8,064 | 7,503 | 24,809 | 18,988 | |
Tax-exempt | 433 | 432 | 1,320 | 1,059 | |
Total interest income | 88,925 | 67,410 | 251,455 | 176,502 | |
Interest expense: | |||||
Deposits | 21,360 | 4,449 | 51,940 | 7,390 | |
Securities sold under agreements to repurchase | 597 | 176 | 1,429 | 250 | |
Federal funds purchased and other short-term borrowings | 157 | 50 | 504 | 72 | |
Federal Home Loan Bank advances | 4,917 | 0 | 10,613 | 0 | |
Subordinated debentures | 579 | 359 | 1,653 | 670 | |
Total interest expense | 27,610 | 5,034 | 66,139 | 8,382 | |
Net interest income | 61,315 | 62,376 | 185,316 | 168,120 | |
Provision for credit losses | 2,775 | 4,803 | 7,750 | 6,882 | |
Net interest income after provision expense | 58,540 | 57,573 | 177,566 | 161,238 | |
Non-interest income: | |||||
Mortgage banking income | [1] | 814 | 703 | 2,882 | 3,001 |
Bank owned life insurance | [1] | 569 | 516 | 1,677 | 1,052 |
Gain on sale of premises and equipment | [1] | 302 | 3,074 | 75 | 3,046 |
Total non-interest income | 22,896 | 24,864 | 67,803 | 66,007 | |
Non-interest expenses: | |||||
Compensation | 23,379 | 23,069 | 67,382 | 63,242 | |
Employee benefits | 4,508 | 4,179 | 14,622 | 13,147 | |
Net occupancy and equipment | 3,821 | 3,767 | 11,234 | 10,455 | |
Technology and communication | 4,236 | 3,747 | 12,706 | 11,150 | |
Debit and credit card processing | 1,637 | 1,437 | 4,762 | 4,439 | |
Marketing and business development | 1,357 | 1,244 | 4,236 | 3,461 | |
Postage, printing and supplies | 938 | 903 | 2,701 | 2,461 | |
Legal and professional | 1,049 | 774 | 2,665 | 2,451 | |
FDIC insurance | 937 | 847 | 2,851 | 2,028 | |
Amortization of investments in tax credit partnerships | 323 | 88 | 970 | 265 | |
Capital and deposit based taxes | 629 | 722 | 1,875 | 1,822 | |
Merger expenses | 0 | 0 | 0 | 19,500 | |
Intangible amortization | 1,167 | 1,610 | 3,519 | 3,934 | |
Other | 2,721 | 2,486 | 8,293 | 7,490 | |
Total non-interest expenses | 46,702 | 44,873 | 137,816 | 145,845 | |
Income before income tax expense | 34,734 | 37,564 | 107,553 | 81,400 | |
Income tax expense | 7,642 | 9,024 | 23,749 | 18,016 | |
Net income | 27,092 | 28,540 | 83,804 | 63,384 | |
Less income attributed to non-controlling interest | 0 | 85 | 0 | 229 | |
Net income available to stockholders | $ 27,092 | $ 28,455 | $ 83,804 | $ 63,155 | |
Net income per common share - basic (in dollars per share) | $ 0.93 | $ 0.98 | $ 2.87 | $ 2.22 | |
Net income per common share - diluted (in dollars per share) | $ 0.92 | $ 0.97 | $ 2.86 | $ 2.2 | |
Weighted average outstanding shares | |||||
Basic (in shares) | 29,223 | 29,144 | 29,208 | 28,509 | |
Diluted (in shares) | 29,336 | 29,404 | 29,347 | 28,752 | |
Fiduciary and Trust [Member] | |||||
Non-interest income: | |||||
Non-interest income | $ 10,030 | $ 9,152 | $ 29,703 | $ 26,890 | |
Deposit Account [Member] | |||||
Non-interest income: | |||||
Non-interest income | 2,272 | 2,179 | 6,622 | 6,103 | |
Credit and Debit Card [Member] | |||||
Non-interest income: | |||||
Non-interest income | 4,870 | 4,710 | 14,064 | 13,577 | |
Treasury Management [Member] | |||||
Non-interest income: | |||||
Non-interest income | 2,635 | 2,221 | 7,502 | 6,312 | |
Investment Advisory, Management and Administrative Service [Member] | |||||
Non-interest income: | |||||
Non-interest income | 791 | 892 | 2,345 | 2,230 | |
Product and Service, Other [Member] | |||||
Non-interest income: | |||||
Non-interest income | $ 613 | $ 1,417 | $ 2,933 | $ 3,796 | |
[1]Outside of the scope of ASC 606. |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income | $ 27,092 | $ 28,540 | $ 83,804 | $ 63,384 |
Other comprehensive income (loss): | ||||
Change in unrealized loss on AFS debt securities | (29,915) | (53,415) | (22,113) | (157,909) |
Change in fair value of derivatives used in cash flow hedge | 2,759 | 0 | 5,670 | 0 |
Total other comprehensive loss before income tax effect | (27,156) | (53,415) | (16,443) | (157,909) |
Tax effect | (6,667) | (12,835) | (4,074) | (37,932) |
Total other comprehensive loss net of tax | (20,489) | (40,580) | (12,369) | (119,977) |
Comprehensive income (loss) | 6,603 | (12,040) | 71,435 | (56,593) |
Less comprehensive income attributed to non-controlling interest | 0 | 85 | 0 | 229 |
Comprehensive income (loss) available to stockholders | $ 6,603 | $ (12,125) | $ 71,435 | $ (56,822) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 26,596 | ||||||
Balance at Dec. 31, 2021 | $ 49,501 | $ 243,107 | $ 391,201 | $ (7,940) | $ 675,869 | $ 0 | $ 675,869 |
Net income | 0 | 0 | 7,906 | 0 | 7,906 | 36 | 7,942 |
Other comprehensive income (loss) | 0 | 0 | 0 | (49,659) | (49,659) | 0 | (49,659) |
Stock compensation expense | $ 0 | 991 | 0 | 0 | 991 | 0 | 991 |
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) | 65 | ||||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations | $ 216 | 3,451 | (6,011) | 0 | (2,344) | 0 | (2,344) |
Cash dividends declared | $ 0 | 0 | (8,172) | 0 | (8,172) | 0 | (8,172) |
Shares cancelled (in shares) | (5) | ||||||
Shares cancelled | $ (18) | (280) | 25 | 0 | (273) | 0 | (273) |
Stock issued for Commonwealth acquisition (in shares) | 2,564 | ||||||
Stock issued for Commonwealth acquisition | $ 8,539 | 125,286 | 0 | 0 | 133,825 | 0 | 133,825 |
Non-controlling interest of acquired entity | 0 | 0 | 0 | 0 | 0 | 3,094 | 3,094 |
Distributions to non-controlling interest | $ 0 | 0 | 0 | 0 | 0 | (53) | (53) |
Balance (in shares) at Mar. 31, 2022 | 29,220 | ||||||
Balance at Mar. 31, 2022 | $ 58,238 | 372,555 | 384,949 | (57,599) | 758,143 | 3,077 | 761,220 |
Balance (in shares) at Dec. 31, 2021 | 26,596 | ||||||
Balance at Dec. 31, 2021 | $ 49,501 | 243,107 | 391,201 | (7,940) | 675,869 | 0 | 675,869 |
Net income | 63,384 | ||||||
Balance (in shares) at Sep. 30, 2022 | 29,242 | ||||||
Balance at Sep. 30, 2022 | $ 58,311 | 376,091 | 421,269 | (127,917) | 727,754 | 2,995 | 730,749 |
Balance (in shares) at Mar. 31, 2022 | 29,220 | ||||||
Balance at Mar. 31, 2022 | $ 58,238 | 372,555 | 384,949 | (57,599) | 758,143 | 3,077 | 761,220 |
Net income | 0 | 0 | 26,794 | 0 | 26,794 | 108 | 26,902 |
Other comprehensive income (loss) | 0 | 0 | 0 | (29,738) | (29,738) | 0 | (29,738) |
Stock compensation expense | $ 0 | 1,057 | 0 | 0 | 1,057 | 0 | 1,057 |
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) | 26 | ||||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations | $ 85 | 1,365 | (2,394) | 0 | (944) | 0 | (944) |
Cash dividends declared | $ 0 | 0 | (8,183) | 0 | (8,183) | 0 | (8,183) |
Shares cancelled (in shares) | (3) | ||||||
Shares cancelled | $ (8) | (99) | 109 | 0 | 2 | 0 | 2 |
Distributions to non-controlling interest | $ 0 | 0 | 0 | 0 | 0 | (155) | (155) |
Balance (in shares) at Jun. 30, 2022 | 29,243 | ||||||
Balance at Jun. 30, 2022 | $ 58,315 | 374,878 | 401,275 | (87,337) | 747,131 | 3,030 | 750,161 |
Net income | 0 | 0 | 28,455 | 0 | 28,455 | 85 | 28,540 |
Other comprehensive income (loss) | 0 | 0 | 0 | (40,580) | (40,580) | 0 | (40,580) |
Stock compensation expense | $ 0 | 1,237 | 0 | 0 | 1,237 | 0 | 1,237 |
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) | 1 | ||||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations | $ 5 | 94 | (114) | 0 | (15) | 0 | (15) |
Cash dividends declared | $ 0 | 0 | (8,474) | 0 | (8,474) | 0 | (8,474) |
Shares cancelled (in shares) | (2) | ||||||
Shares cancelled | $ (9) | (118) | 127 | 0 | 0 | 0 | 0 |
Distributions to non-controlling interest | $ 0 | 0 | 0 | 0 | 0 | (120) | (120) |
Balance (in shares) at Sep. 30, 2022 | 29,242 | ||||||
Balance at Sep. 30, 2022 | $ 58,311 | 376,091 | 421,269 | (127,917) | $ 727,754 | $ 2,995 | 730,749 |
Balance (in shares) at Dec. 31, 2022 | 29,259 | ||||||
Balance at Dec. 31, 2022 | $ 58,367 | 377,703 | 439,898 | (115,536) | 760,432 | ||
Net income | 0 | 0 | 29,048 | 0 | 29,048 | ||
Other comprehensive income (loss) | 0 | 0 | 0 | 14,593 | 14,593 | ||
Stock compensation expense | $ 0 | 1,152 | 0 | 0 | 1,152 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) | 66 | ||||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations | $ 217 | 3,557 | (6,143) | (2,369) | |||
Cash dividends declared | $ 0 | 0 | (8,489) | 0 | (8,489) | ||
Shares cancelled (in shares) | (1) | ||||||
Shares cancelled | $ (2) | (21) | 24 | 0 | 1 | ||
Balance (in shares) at Mar. 31, 2023 | 29,324 | ||||||
Balance at Mar. 31, 2023 | $ 58,582 | 382,391 | 454,338 | (100,943) | 794,368 | ||
Balance (in shares) at Dec. 31, 2022 | 29,259 | ||||||
Balance at Dec. 31, 2022 | $ 58,367 | 377,703 | 439,898 | (115,536) | 760,432 | ||
Net income | 83,804 | ||||||
Balance (in shares) at Sep. 30, 2023 | 29,323 | ||||||
Balance at Sep. 30, 2023 | $ 58,579 | 384,399 | 491,845 | (127,905) | 806,918 | ||
Balance (in shares) at Mar. 31, 2023 | 29,324 | ||||||
Balance at Mar. 31, 2023 | $ 58,582 | 382,391 | 454,338 | (100,943) | 794,368 | ||
Net income | 0 | 0 | 27,664 | 0 | 27,664 | ||
Other comprehensive income (loss) | 0 | 0 | 0 | (6,473) | (6,473) | ||
Stock compensation expense | $ 0 | 1,035 | 0 | 0 | 1,035 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) | 0 | ||||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations | $ 2 | 26 | (39) | 0 | (11) | ||
Cash dividends declared | 0 | 0 | (8,501) | 0 | (8,501) | ||
Shares cancelled | $ (4) | (65) | 69 | 0 | 0 | ||
Balance (in shares) at Jun. 30, 2023 | 29,324 | ||||||
Balance at Jun. 30, 2023 | $ 58,580 | 383,387 | 473,531 | (107,416) | 808,082 | ||
Net income | 0 | 0 | 27,092 | 0 | 27,092 | ||
Other comprehensive income (loss) | 0 | 0 | 0 | (20,489) | (20,489) | ||
Stock compensation expense | 0 | 1,032 | 0 | 0 | 1,032 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations | 0 | (2) | 0 | 0 | (2) | ||
Cash dividends declared | $ 0 | 0 | (8,797) | 0 | (8,797) | ||
Shares cancelled (in shares) | (1) | ||||||
Shares cancelled | $ (1) | (18) | 19 | 0 | 0 | ||
Balance (in shares) at Sep. 30, 2023 | 29,323 | ||||||
Balance at Sep. 30, 2023 | $ 58,579 | $ 384,399 | $ 491,845 | $ (127,905) | $ 806,918 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Retained Earnings [Member] | ||||||
Cash dividends declared, per share (in dollars per share) | $ 0.29 | |||||
Cash dividends declared, per share (in dollars per share) | $ 0.3 | $ 0.29 | $ 0.29 | $ 0.28 | $ 0.28 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | ||
Cash flows from operating activities: | ||||||||
Net income | $ 27,092 | $ 29,048 | $ 28,540 | $ 7,942 | $ 83,804 | $ 63,384 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Provision for credit losses | 2,775 | 4,803 | 7,750 | 6,882 | ||||
Depreciation, amortization and accretion, net | 15,356 | 15,729 | ||||||
Deferred income tax expense (benefit) | (883) | 3,303 | ||||||
Gain on sale of mortgage loans held for sale | (505) | (166) | (1,251) | (670) | ||||
Origination of mortgage loans held for sale | (86,100) | (111,026) | ||||||
Proceeds from sale of mortgage loans held for sale | 83,422 | 118,639 | ||||||
Bank owned life insurance income | [1] | (569) | (516) | (1,677) | (1,052) | |||
Gain on the disposal of premises and equipment | [1] | (302) | (3,074) | (75) | (3,046) | |||
Loss on other real estate owned | 250 | 5 | ||||||
Stock compensation expense | 3,219 | 3,285 | ||||||
Excess tax benefit from share-based compensation arrangements | (579) | (1,142) | ||||||
Net change in accrued interest receivable and other assets | (106,238) | (8,635) | ||||||
Net change in accrued interest payable and other liabilities | 79,409 | (14,539) | ||||||
Net cash provided by operating activities | 76,407 | 71,117 | ||||||
Cash flows from investing activities: | ||||||||
Purchases of available for sale debt securities | (6,025) | (180,902) | ||||||
Proceeds from sales of acquired available for sale debt securities | 2,000 | 0 | 2,111 | |||||
Proceeds from maturities and paydowns of available for sale debt securities | 106,806 | 112,078 | ||||||
Purchases of held to maturity debt securities | 0 | (459,183) | ||||||
Proceeds from maturities and paydowns of held to maturity debt securities | 28,196 | 164,512 | ||||||
Purchase of bank owned life insurance | 0 | (30,000) | ||||||
Purchases of FHLB stock | (28,800) | 0 | ||||||
Proceeds from redemption of FHLB stock | 13,487 | 2,883 | ||||||
Net change in non-PPP loans | (428,674) | (332,133) | ||||||
Purchases of premises and equipment | (5,536) | (15,294) | ||||||
Proceeds from sale or disposal of premises and equipment | 1,732 | 13,517 | ||||||
Other investment activities | (12,339) | 0 | ||||||
Proceeds from sales of other real estate owned | 0 | 6,656 | ||||||
Cash from acquisition, net of cash paid | 0 | 349,456 | ||||||
Net cash (used in) provided by investing activities | (317,387) | (245,034) | ||||||
Cash flows from financing activities: | ||||||||
Net change in deposits | 11,555 | (406,883) | ||||||
Net change in securities sold under agreements to repurchase and federal funds purchased | (16,719) | (18,524) | ||||||
Proceeds from FHLB advances | 700,000 | 0 | ||||||
Repayments of FHLB advances | (400,000) | 0 | ||||||
Repayment of acquired line of credit | 0 | (3,200) | ||||||
Share repurchases related to compensation plans | (2,382) | (3,574) | ||||||
Cash disbursements to non-controlling interest | 0 | (328) | ||||||
Cash dividends paid | (25,804) | (24,845) | ||||||
Net cash (used in) provided by financing activities | 266,650 | (457,354) | ||||||
Net change in cash and cash equivalents | 25,670 | (631,271) | ||||||
Beginning cash and cash equivalents | $ 167,367 | $ 961,192 | 167,367 | 961,192 | $ 961,192 | |||
Ending cash and cash equivalents | $ 193,037 | $ 329,921 | 193,037 | 329,921 | $ 167,367 | |||
Supplemental cash flow information: | ||||||||
Interest paid | 64,963 | 8,281 | ||||||
Income taxes paid, net of refunds | 28,460 | 9,614 | ||||||
Cash paid for operating lease liabilities | 3,111 | 2,746 | ||||||
Supplemental non-cash activity: | ||||||||
Unfunded commitments in tax credit investments | 100,046 | 6,886 | ||||||
Dividends payable to stockholders | 212 | 204 | ||||||
Premises and equipment transferred to premises held for sale | 715 | 10,355 | ||||||
Fair value of assets acquired | 0 | 1,403,509 | ||||||
Cash paid in acquisition | 0 | 30,994 | ||||||
Common stock issued in acquisition | 0 | 133,825 | ||||||
Non-controlling interest of acquired entity | 0 | 3,094 | ||||||
Total consideration paid | 0 | 167,913 | ||||||
Liabilities assumed | 0 | 1,235,596 | ||||||
Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | ||||||||
Cash flows from investing activities: | ||||||||
Net change in PPP loans | $ 13,766 | $ 121,265 | ||||||
[1]Outside of the scope of ASC 606. |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 Summary of Significant Accounting Policies The accompanying condensed consolidated financial statements include the accounts of Stock Yards Bancorp, Inc. and its wholly-owned subsidiaries. The condensed consolidated financial statements in this report have not To prepare the condensed consolidated financial statements, management must make estimates and assumptions that may may three nine September 30, 2023 not December 31, 2023, The condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the rules and regulations for Form 10 not 10 Reclassifications no Adoption of New Accounting Guidance In March 2022, 2022 02, Financial Instruments Credit Losses (Topic 326 2022 02 310 40, Receivables Troubled Debt Restructurings by Creditors 2016 13, Financial Instruments Credit Losses (Topic 326 2022 02 326 20, Financial Instruments Credit Losses Measured at Amortized Cost. December 15, 2022 not Accounting Standards Updates not not In March 2023, 2023 02, Investments Equity Method and Join Ventures (Topic 323 December 15, 2023. 2023 02 not |
Note 2 - Investment Securities
Note 2 - Investment Securities | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 2 Investment Securities Debt securities purchased in which Bancorp has the intent and ability to hold to their maturity are classified as HTM securities. All other investment securities are classified as AFS securities. AFS Debt Securities The following table summarizes the amortized cost, unrealized gains and losses, and fair value of Bancorp’s AFS debt securities portfolio: (in thousands) Amortized Unrealized Fair September 30, 2023 cost Gains Losses value U.S. Treasury and other U.S. Government obligations $ 123,500 $ - $ (5,491 ) $ 118,009 Government sponsored enterprise obligations 115,862 184 (6,813 ) 109,233 Mortgage backed securities - government agencies 814,224 - (141,558 ) 672,666 Obligations of states and political subdivisions 138,279 - (21,388 ) 116,891 Other 3,856 - (407 ) 3,449 Total available for sale debt securities $ 1,195,721 $ 184 $ (175,657 ) $ 1,020,248 December 31, 2022 U.S. Treasury and other U.S. Government obligations $ 122,966 $ - $ (7,927 ) $ 115,039 Government sponsored enterprise obligations 149,773 290 (6,437 ) 143,626 Mortgage backed securities - government agencies 874,265 58 (121,585 ) 752,738 Obligations of states and political subdivisions 145,016 1 (17,418 ) 127,599 Other 5,957 - (342 ) 5,615 Total available for sale debt securities $ 1,297,977 $ 349 $ (153,709 ) $ 1,144,617 HTM Debt Securities The following table summarizes the amortized cost, unrecognized gains and losses, and fair value of Bancorp’s HTM debt securities portfolio: (in thousands) Carrying Unrecognized Fair September 30, 2023 value Gains Losses value U.S. Treasury and other U.S. Government obligations $ 204,139 $ - $ (7,645 ) $ 196,494 Government sponsored enterprise obligations 26,972 - (3,536 ) 23,436 Mortgage backed securities - government agencies 214,094 - (36,606 ) 177,488 Total held to maturity debt securities $ 445,205 $ - $ (47,787 ) $ 397,418 December 31, 2022 U.S. Treasury and other U.S. Government obligations $ 217,794 $ - $ (9,166 ) $ 208,628 Government sponsored enterprise obligations 27,507 - (2,559 ) 24,948 Mortgage backed securities - government agencies 227,916 - (29,659 ) 198,257 Total held to maturity debt securities $ 473,217 $ - $ (41,384 ) $ 431,833 All investment securities classified as HTM by Bancorp as of September 30, 2023 September 30, 2023. September 30, 2023, Debt Securities by Contractual Maturity A summary of AFS and HTM debt securities by contractual maturity as of September 30, 2023 AFS Debt Securities HTM Debt Securities (in thousands) Amortized cost Fair value Carrying value Fair value Due within one year $ 117,105 $ 112,410 $ 51,077 $ 50,188 Due after one year but within five years 54,505 50,972 153,800 147,004 Due after five years but within 10 years 79,708 66,296 25,660 22,176 Due after 10 years 130,179 117,904 574 562 Mortgage backed securities - government agencies 814,224 672,666 214,094 177,488 Total $ 1,195,721 $ 1,020,248 $ 445,205 $ 397,418 Actual maturities may may At September 30, 2023 December 31, 2022, one 10% Accrued interest on the AFS and HTM securities portfolios totaled $4 million and $1 million at September 30, 2023, December 31, 2022, AFS debt securities totaling $247 million were acquired on March 7, 2022, first 2022. Securities with a carrying value of $688 million and $1.1 billion were pledged at September 30, 2023 December 31, 2022, December 31, 2022 September 30, 2023 Based on an evaluation of available information including security type, counterparty credit quality, past events, current conditions, and reasonable and supportable forecasts that are relevant to collectability, Bancorp has concluded that it expects to receive all contractual cash flows from each security held in its AFS and HTM debt securities portfolio. As such, no allowance or impairment was recorded with respect to investment securities as of September 30, 2023. Unrealized and Unrecognized Loss Analysis on Debt Securities Debt securities with unrealized and unrecognized losses at September 30, 2023 December 31, 2022, AFS Debt Securities Less than 12 months 12 months or more Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2023 value losses value losses value losses U.S. Treasury and other U.S. Government obligations $ - $ - $ 118,009 $ (5,491 ) $ 118,009 $ (5,491 ) Government sponsored enterprise obligations 10,262 (42 ) 83,081 (6,771 ) 93,343 (6,813 ) Mortgage-backed securities - government agencies 29,149 (1,633 ) 643,517 (139,925 ) 672,666 (141,558 ) Obligations of states and political subdivisions 13,482 (929 ) 103,094 (20,459 ) 116,576 (21,388 ) Other - - 3,449 (407 ) 3,449 (407 ) Total AFS debt securities $ 52,893 $ (2,604 ) $ 951,150 $ (173,053 ) $ 1,004,043 $ (175,657 ) December 31, 2022 U.S. Treasury and other U.S. Government obligations $ 3,025 $ (57 ) $ 111,966 $ (7,870 ) $ 114,991 $ (7,927 ) Government sponsored enterprise obligations 99,785 (3,553 ) 22,484 (2,884 ) 122,269 (6,437 ) Mortgage-backed securities - government agencies 180,263 (11,114 ) 567,988 (110,471 ) 748,251 (121,585 ) Obligations of states and political subdivisions 64,165 (3,763 ) 56,864 (13,655 ) 121,029 (17,418 ) Other 4,865 (213 ) 749 (129 ) 5,614 (342 ) Total AFS debt securities $ 352,103 $ (18,700 ) $ 760,051 $ (135,009 ) $ 1,112,154 $ (153,709 ) HTM Debt Securities Less than 12 months 12 months or more Total (in thousands) Fair Unrecognized Fair Unrecognized Fair Unrecognized September 30, 2023 value losses value losses value losses U.S. Treasury and other U.S. Government obligations $ - $ - $ 196,494 $ (7,645 ) $ 196,494 $ (7,645 ) Government sponsored enterprise obligations 1,415 (4 ) 22,009 (3,532 ) 23,424 (3,536 ) Mortgage-backed securities - government agencies - - 177,451 (36,606 ) 177,451 (36,606 ) Total HTM debt securities $ 1,415 $ (4 ) $ 395,954 $ (47,783 ) $ 397,369 $ (47,787 ) December 31, 2022 U.S. Treasury and other U.S. Government obligations $ 208,628 $ (9,166 ) $ - $ - $ 208,628 $ (9,166 ) Government sponsored enterprise obligations 24,948 (2,559 ) - - 24,948 (2,559 ) Mortgage-backed securities - government agencies 198,257 (29,659 ) - - 198,257 (29,659 ) Total HTM debt securities $ 431,833 $ (41,384 ) $ - $ - $ 431,833 $ (41,384 ) Applicable dates for determining when securities are in unrealized and unrecognized loss positions are September 30, 2023 December 31, 2022. 12 not Less than 12 For debt securities with unrealized and unrecognized loss positions, Bancorp evaluates the securities to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or non-credit related factors. Any impairment that is not may not no In evaluating debt securities in unrealized and unrecognized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, Bancorp considers the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers’ financial condition, among other factors. Unrealized and unrecognized losses on Bancorp’s investment securities portfolio have not September 30, 2023 December 31, 2022, September 30, 2023 December 31, 2022, no September 30, 2023 December 31, 2022. |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Credit Losses on Loans | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 3 Loans and Allowance for Credit Losses on Loans Composition of loans by class follows: (in thousands) September 30, 2023 December 31, 2022 Commercial real estate - non-owner occupied $ 1,508,615 $ 1,397,346 Commercial real estate - owner occupied 945,122 834,629 Total commercial real estate 2,453,737 2,231,975 Commercial and industrial - term 826,201 765,163 Commercial and industrial - term - PPP 4,827 18,593 Commercial and industrial - lines of credit 419,999 465,813 Total commercial and industrial 1,251,027 1,249,569 Residential real estate - owner occupied 696,162 591,515 Residential real estate - non-owner occupied 350,386 313,248 Total residential real estate 1,046,548 904,763 Construction and land development 480,120 445,690 Home equity lines of credit 203,184 200,725 Consumer 143,703 139,461 Leases 14,710 13,322 Credits cards 24,055 20,413 Total loans (1) $ 5,617,084 $ 5,205,918 ( 1 Accrued interest on loans, which is excluded from the amortized cost of loans, totaled $19 million and $17 million at September 30, 2023 December 31, 2022, Loans with carrying amounts of $3.11 billion and $2.77 billion were pledged to secure FHLB borrowing capacity at September 30, 2023 December 31, 2022, Loans to directors and their related interests, including loans to companies for which directors are principal owners and executive officers, totaled $77 million and $79 million as of September 30, 2023 December 31, 2022, PCD Loans In connection with the acquisition of CB on March 7, 2022, no 326, Financial Instruments Credit Losses. Bancorp purchased loans through the prior year acquisition for which there was, at the time of acquisition, more-than-insignificant deterioration of credit quality since origination. The carrying amount of loans acquired and classified as PCD was as follows at the respective acquisition dates: CB (in thousands) March 7, 2022 Purchase price of PCD loans at acquisition $ 88,549 Allowance for credit losses at acquisition (9,950 ) Non-credit discount at acquisition (4,094 ) Fair value of PCD loans at acquisition $ 74,505 At September 30, 2023, three nine September 30, 2023, three nine September 30, 2022, ACL for Loans The table below reflects activity in the ACL related to loans: (in thousands) Three Months Ended September 30, 2023 Beginning Balance Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 21,773 $ (420 ) $ - $ 17 $ 21,370 Commercial real estate - owner occupied 11,557 1,088 - 6 12,651 Total commercial real estate 33,330 668 - 23 34,021 Commercial and industrial - term 14,792 1,026 (1,878 ) 16 13,956 Commercial and industrial - lines of credit 6,503 (158 ) - 1 6,346 Total commercial and industrial 21,295 868 (1,878 ) 17 20,302 Residential real estate - owner occupied 8,835 278 - 6 9,119 Residential real estate - non-owner occupied 4,169 55 - - 4,224 Total residential real estate 13,004 333 - 6 13,343 Construction and land development 6,752 227 - - 6,979 Home equity lines of credit 1,609 (7 ) - - 1,602 Consumer 1,285 184 (232 ) 131 1,368 Leases 205 7 - - 212 Credit cards 230 20 (5 ) 3 248 Total $ 77,710 $ 2,300 $ (2,115 ) $ 180 $ 78,075 (in thousands) Nine Months Ended September 30, 2023 Beginning Balance Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 22,641 $ (1,324 ) $ - $ 53 $ 21,370 Commercial real estate - owner occupied 10,827 1,818 - 6 12,651 Total commercial real estate 33,468 494 - 59 34,021 Commercial and industrial - term 12,991 2,955 (2,006 ) 16 13,956 Commercial and industrial - lines of credit 6,389 (193 ) - 150 6,346 Total commercial and industrial 19,380 2,762 (2,006 ) 166 20,302 Residential real estate - owner occupied 6,717 2,418 (43 ) 27 9,119 Residential real estate - non-owner occupied 3,597 625 - 2 4,224 Total residential real estate 10,314 3,043 (43 ) 29 13,343 Construction and land development 7,186 (207 ) - - 6,979 Home equity lines of credit 1,613 1 (12 ) - 1,602 Consumer 1,158 473 (639 ) 376 1,368 Leases 201 11 - - 212 Credit cards 211 123 (105 ) 19 248 Total $ 73,531 $ 6,700 $ (2,805 ) $ 649 $ 78,075 (in thousands) Three Months Ended September 30, 2022 Beginning Balance Initial ACL on PCD Loans Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 20,723 $ - $ 502 $ (37 ) $ - $ 21,188 Commercial real estate - owner occupied 9,842 - (227 ) - 153 9,768 Total commercial real estate 30,565 - 275 (37 ) 153 30,956 Commercial and industrial - term 12,342 - 2,055 (466 ) 232 14,163 Commercial and industrial - lines of credit 5,000 - 203 (99 ) - 5,104 Total commercial and industrial 17,342 - 2,258 (565 ) 232 19,267 Residential real estate - owner occupied 5,988 - 423 (17 ) 2 6,396 Residential real estate - non-owner occupied 3,190 - 146 - 9 3,345 Total residential real estate 9,178 - 569 (17 ) 11 9,741 Construction and land development 6,214 - 731 - - 6,945 Home equity lines of credit 1,521 - 105 - - 1,626 Consumer 1,113 - 162 (307 ) 148 1,116 Leases 221 - (10 ) - - 211 Credit cards 208 - 13 - - 221 Total $ 66,362 $ - $ 4,103 $ (926 ) $ 544 $ 70,083 (in thousands) Nine Months Ended September 30, 2022 Beginning Balance Initial ACL on Loans Purchased with Credit Deterioration Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 15,960 $ 3,508 $ 1,744 $ (37 ) $ 13 $ 21,188 Commercial real estate - owner occupied 9,595 2,121 (2,103 ) (41 ) 196 9,768 Total commercial real estate 25,555 5,629 (359 ) (78 ) 209 30,956 Commercial and industrial - term 8,577 1,358 3,796 (594 ) 1,026 14,163 Commercial and industrial - lines of credit 4,802 1,874 (1,437 ) (135 ) - 5,104 Total commercial and industrial 13,379 3,232 2,359 (729 ) 1,026 19,267 Residential real estate - owner occupied 4,316 590 1,458 (30 ) 62 6,396 Residential real estate - non-owner occupied 3,677 - (349 ) - 17 3,345 Total residential real estate 7,993 590 1,109 (30 ) 79 9,741 Construction and land development 4,789 419 1,809 (72 ) - 6,945 Home equity lines of credit 1,044 2 580 - - 1,626 Consumer 772 78 565 (796 ) 497 1,116 Leases 204 - 7 - - 211 Credit cards 162 - 12 - 47 221 Total $ 53,898 $ 9,950 $ 6,082 $ (1,705 ) $ 1,858 $ 70,083 The following tables present the amortized cost basis of non-performing loans and the amortized cost basis of loans on non-accrual status for which there was no Non-accrual Loans Past Due 90-Days- (in thousands) With No Total or-More and Still September 30, 2023 Recorded ACL Non-accrual Accruing Interest Commercial real estate - non-owner occupied $ — $ 7,162 $ — Commercial real estate - owner occupied — 1,109 — Total commercial real estate — 8,271 — Commercial and industrial - term 3,737 5,229 — Commercial and industrial - PPP — — — Commercial and industrial - lines of credit — 58 — Total commercial and industrial 3,737 5,287 — Residential real estate - owner occupied 237 2,709 — Residential real estate - non-owner occupied — 378 — Total residential real estate 237 3,087 — Construction and land development — — — Home equity lines of credit — 304 — Consumer — 266 — Leases — — — Credit cards — 12 1 Total $ 3,974 $ 17,227 $ 1 Non-accrual Loans Past Due 90-Days- (in thousands) With No Total Troubled Debt or-More and Still December 31, 2022 Recorded ACL Non-accrual Restructurings (1) Accruing Interest Commercial real estate - non-owner occupied $ — $ 7,707 $ — $ 78 Commercial real estate - owner occupied 1,370 2,525 — — Total commercial real estate 1,370 10,232 — 78 Commercial and industrial - term 403 1,182 — 259 Commercial and industrial - PPP — 21 — 28 Commercial and industrial - lines of credit 273 348 — 300 Total commercial and industrial 676 1,551 — 587 Residential real estate - owner occupied 249 1,801 — — Residential real estate - non-owner occupied — 219 — 220 Total residential real estate 249 2,020 — 220 Construction and land development — — — — Home equity lines of credit — 205 — — Consumer — 234 — — Leases — — — — Credit cards — — — 7 Total $ 2,295 $ 14,242 $ — $ 892 ( 1 not For the three nine September 30, 2023 2022, For the three nine September 30, 2023 2022, The following table presents the amortized cost basis and ACL allocated for collateral dependent loans, which are individually evaluated to determine expected credit losses: (in thousands) September 30, 2023 Real Estate Accounts Receivable / Equipment Other Total ACL Allocation Commercial real estate - non-owner occupied $ 14,004 $ - $ - $ 14,004 $ 1,892 Commercial real estate - owner occupied 2,906 - - 2,906 840 Total commercial real estate 16,910 - - 16,910 2,732 Commercial and industrial - term 432 4,847 - 5,279 412 Commercial and industrial - lines of credit 2,690 159 - 2,849 739 Total commercial and industrial 3,122 5,006 - 8,128 1,151 Residential real estate - owner occupied 3,251 - - 3,251 206 Residential real estate - non-owner occupied 567 - - 567 116 Total residential real estate 3,818 - - 3,818 322 Construction and land development - - - - - Home equity lines of credit 304 - - 304 - Consumer - - 275 275 20 Leases - - - - - Credit cards - - - - - Total collateral dependent loans $ 24,154 $ 5,006 $ 275 $ 29,435 $ 4,225 (in thousands) December 31, 2022 Real Estate Accounts Receivable / Equipment Other Total ACL Allocation Commercial real estate - non-owner occupied $ 14,764 $ - $ - $ 14,764 $ 2,652 Commercial real estate - owner occupied 4,415 - - 4,415 846 Total commercial real estate 19,179 - - 19,179 3,498 Commercial and industrial - term 39 2,207 - 2,246 1,205 Commercial and industrial - lines of credit 422 2,821 - 3,243 761 Total commercial and industrial 461 5,028 - 5,489 1,966 Residential real estate - owner occupied 2,199 - - 2,199 222 Residential real estate - non-owner occupied 415 - - 415 116 Total residential real estate 2,614 - - 2,614 338 Construction and land development - - - - - Home equity lines of credit 205 - - 205 - Consumer - - 219 219 20 Leases - - - - - Credit cards - - - - - Total collateral dependent loans $ 22,459 $ 5,028 $ 219 $ 27,706 $ 5,822 The following tables present the aging of contractually past due loans by portfolio class: (in thousands) 30-59 days 60-89 days 90 or more Total Past Total September 30, 2023 Current Past Due Past Due days Past Due Due Loans Loans Commercial real estate - non-owner occupied $ 1,504,918 $ 114 $ 3,235 $ 348 $ 3,697 $ 1,508,615 Commercial real estate - owner occupied 943,521 1,370 — 231 1,601 945,122 Total commercial real estate 2,448,439 1,484 3,235 579 5,298 2,453,737 Commercial and industrial - term 824,236 456 803 706 1,965 826,201 Commercial and industrial - term - PPP 4,827 — — — — 4,827 Commercial and industrial - lines of credit 419,734 207 — 58 265 419,999 Total commercial and industrial 1,248,797 663 803 764 2,230 1,251,027 Residential real estate - owner occupied 689,433 4,618 709 1,402 6,729 696,162 Residential real estate - non-owner occupied 349,772 377 — 237 614 350,386 Total residential real estate 1,039,205 4,995 709 1,639 7,343 1,046,548 Construction and land development 480,059 61 — — 61 480,120 Home equity lines of credit 202,697 183 11 293 487 203,184 Consumer 143,019 348 136 200 684 143,703 Leases 14,710 — — — — 14,710 Credit cards 24,049 3 2 1 6 24,055 Total $ 5,600,975 $ 7,737 $ 4,896 $ 3,476 $ 16,109 $ 5,617,084 (in thousands) 30-59 days 60-89 days 90 or more Total Past Total December 31, 2022 Current Past Due Past Due days Past Due Due Loans Loans Commercial real estate - non-owner occupied $ 1,393,016 $ 3,404 $ 460 $ 466 $ 4,330 $ 1,397,346 Commercial real estate - owner occupied 831,731 225 2,592 81 2,898 834,629 Total commercial real estate 2,224,747 3,629 3,052 547 7,228 2,231,975 Commercial and industrial - term 763,793 157 292 921 1,370 765,163 Commercial and industrial - term - PPP 17,719 748 77 49 874 18,593 Commercial and industrial - lines of credit 464,494 389 300 630 1,319 465,813 Total commercial and industrial 1,246,006 1,294 669 1,600 3,563 1,249,569 Residential real estate - owner occupied 587,830 1,613 974 1,098 3,685 591,515 Residential real estate - non-owner occupied 312,249 373 331 295 999 313,248 Total residential real estate 900,079 1,986 1,305 1,393 4,684 904,763 Construction and land development 445,618 — 72 — 72 445,690 Home equity lines of credit 200,036 566 40 83 689 200,725 Consumer 138,846 342 85 188 615 139,461 Leases 13,322 — — — — 13,322 Credit cards 20,401 3 2 7 12 20,413 Total $ 5,189,055 $ 7,820 $ 5,225 $ 3,818 $ 16,863 $ 5,205,918 Loan Risk Ratings Consistent with regulatory guidance, Bancorp categorizes loans into credit risk rating categories based on relevant information about the ability of borrowers to service their debt, including current financial information, historical payment experience, credit documentation, public information and current economic trends. Pass-rated loans include all risk-rated loans other than those classified as OAEM, substandard, and doubtful, which are defined below: OAEM may Substandard not Substandard non-performing 90 Doubtful Management considers the guidance in ASC 310 20 not As of September 30, 2023, (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized September 30, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Commercial real estate - non-owner occupied: Risk rating Pass $ 255,865 $ 354,634 $ 338,426 $ 222,111 $ 122,851 $ 153,093 $ 22,016 $ 1,468,996 OAEM 3,287 - 2,917 - 3,373 4,098 - 13,675 Substandard - 1,383 1,003 3,628 12,424 247 97 18,782 Substandard non-performing 6,080 299 - - 76 707 - 7,162 Doubtful - - - - - - - - Total Commercial real estate non-owner occupied $ 265,232 $ 356,316 $ 342,346 $ 225,739 $ 138,724 $ 158,145 $ 22,113 $ 1,508,615 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - owner occupied: Risk rating Pass $ 127,016 $ 181,373 $ 203,605 $ 189,483 $ 96,127 $ 113,057 $ 15,814 $ 926,475 OAEM 3,571 2,002 602 5,192 79 771 - 12,217 Substandard 266 4,286 - - 392 377 - 5,321 Substandard non-performing - 230 808 71 - - - 1,109 Doubtful - - - - - - - - Total Commercial real estate owner occupied $ 130,853 $ 187,891 $ 205,015 $ 194,746 $ 96,598 $ 114,205 $ 15,814 $ 945,122 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial - term: Risk rating Pass $ 192,704 $ 322,039 $ 180,682 $ 62,307 $ 27,539 $ 30,438 $ - $ 815,709 OAEM - 855 2,625 - 167 164 - 3,811 Substandard 922 85 45 100 - 300 - 1,452 Substandard non-performing 3,848 774 44 341 222 - - 5,229 Doubtful - - - - - - - - Total Commercial and industrial - term $ 197,474 $ 323,753 $ 183,396 $ 62,748 $ 27,928 $ 30,902 $ - $ 826,201 Current period gross charge offs $ (1,274 ) $ (621 ) $ (26 ) $ (57 ) $ - $ (28 ) $ - $ (2,006 ) Commercial and industrial - PPP Risk rating Pass $ - $ - $ 2,753 $ 2,074 $ - $ - $ - $ 4,827 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Commercial and industrial - PPP $ - $ - $ 2,753 $ 2,074 $ - $ - $ - $ 4,827 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - (continued) (continued) (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized September 30, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Commercial and industrial - lines of credit Risk rating Pass $ 34,187 $ 29,544 $ 3,413 $ 360 $ 9,143 $ 2,053 $ 323,574 $ 402,274 OAEM - - - 829 - - 7,588 8,417 Substandard - - - - 25 - 9,225 9,250 Substandard non-performing - - - - - - 58 58 Doubtful - - - - - - - - Total Commercial and industrial - lines of credit $ 34,187 $ 29,544 $ 3,413 $ 1,189 $ 9,168 $ 2,053 $ 340,445 $ 419,999 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Residential real estate - owner occupied Risk rating Pass $ 148,984 $ 181,101 $ 179,320 $ 88,093 $ 23,378 $ 72,112 $ - $ 692,988 OAEM - - 91 - - - - 91 Substandard - 16 - - - 358 - 374 Substandard non-performing 178 675 162 254 52 1,388 - 2,709 Doubtful - - - - - - - - Total Residential real estate - owner occupied $ 149,162 $ 181,792 $ 179,573 $ 88,347 $ 23,430 $ 73,858 $ - $ 696,162 Current period gross charge offs $ - $ - $ - $ - $ - $ (43 ) $ - $ (43 ) Residential real estate - non-owner occupied Risk rating Pass $ 65,058 $ 87,911 $ 80,228 $ 51,062 $ 31,771 $ 33,108 $ - $ 349,138 OAEM - 10 - - 262 280 - 552 Substandard - - - - - 318 - 318 Substandard non-performing - 237 20 - 46 75 - 378 Doubtful - - - - - - - - Total Residential real estate - non-owner occupied $ 65,058 $ 88,158 $ 80,248 $ 51,062 $ 32,079 $ 33,781 $ - $ 350,386 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Construction and land development Risk rating Pass $ 83,239 $ 246,335 $ 73,479 $ 49,275 $ 489 $ 3,837 $ 15,996 $ 472,650 OAEM - - - - - - 999 999 Substandard 4,175 2,296 - - - - - 6,471 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Construction and land development $ 87,414 $ 248,631 $ 73,479 $ 49,275 $ 489 $ 3,837 $ 16,995 $ 480,120 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity lines of credit Risk rating Pass $ - $ - $ - $ - $ - $ - $ 202,842 $ 202,842 OAEM - - - - - - - - Substandard - - - - - - 38 38 Substandard non-performing - - - - - - 304 304 Doubtful - - - - - - - - Total Home equity lines of credit $ - $ - $ - $ - $ - $ - $ 203,184 $ 203,184 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (12 ) $ (12 ) (continued) (continued) (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized September 30, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Consumer Risk rating Pass $ 25,219 $ 19,908 $ 11,791 $ 3,355 $ 2,477 $ 2,073 $ 78,614 $ 143,437 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - 110 80 25 13 26 12 266 Doubtful - - - - - - - - Total Consumer $ 25,219 $ 20,018 $ 11,871 $ 3,380 $ 2,490 $ 2,099 $ 78,626 $ 143,703 Current period gross charge offs $ (477 ) $ (18 ) $ (23 ) $ (40 ) $ (40 ) $ (27 ) $ (14 ) $ (639 ) Leases Risk rating Pass $ 3,688 $ 3,360 $ 1,937 $ 307 $ 315 $ 5,103 $ - $ 14,710 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Leases $ 3,688 $ 3,360 $ 1,937 $ 307 $ 315 $ 5,103 $ - $ 14,710 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Credit cards Risk rating Pass $ - $ - $ - $ - $ - $ - $ 24,043 $ 24,043 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - 12 12 Doubtful - - - - - - - - Total Credit cards $ - $ - $ - $ - $ - $ - $ 24,055 $ 24,055 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (105 ) $ (105 ) Total loans Risk rating Pass $ 935,960 $ 1,426,205 $ 1,075,634 $ 668,427 $ 314,090 $ 414,874 $ 682,899 $ 5,518,089 OAEM 6,858 2,867 6,235 6,021 3,881 5,313 8,587 39,762 Substandard 5,363 8,066 1,048 3,728 12,841 1,600 9,360 42,006 Substandard non-performing 10,106 2,325 1,114 691 409 2,196 386 17,227 Doubtful - - - - - - - - Total Loans $ 958,287 $ 1,439,463 $ 1,084,031 $ 678,867 $ 331,221 $ 423,983 $ 701,232 $ 5,617,084 Current period gross charge offs $ (1,751 ) $ (639 ) $ (49 ) $ (97 ) $ (40 ) $ (98 ) $ (131 ) $ (2,805 ) As of December 31, 2022, (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized December 31, 2022 2022 2021 2020 2019 2018 Prior cost basis Total Commercial real estate - non-owner occupied: Risk rating Pass $ 338,460 $ 380,612 $ 264,833 $ 128,407 $ 76,359 $ 139,095 $ 24,875 $ 1,352,641 OAEM - 2,006 - 3,534 - 5,414 - 10,954 Substandard 1,381 1,012 3,744 19,574 - 233 100 26,044 Substandard non-performing - - - - - 7,707 - 7,707 Doubtful - - - - - - - - Total Commercial real estate non-owner occupied $ 339,841 $ 383,630 $ 268,577 $ 151,515 $ 76,359 $ 152,449 $ 24,975 $ 1,397,346 Commercial real estate - owner occupied: Risk rating Pass $ 165,711 $ 202,599 $ 194,052 $ 104,148 $ 60,899 $ 74,356 $ 13,062 $ 814,827 OAEM 2,895 1,777 4,540 1,891 676 216 510 12,505 Substandard - 1,152 - 1,623 1,928 69 - 4,772 Substandard non-performing 1,533 911 - - - 81 - 2,525 Doubtful - - - - - - - - Total Commercial real estate owner occupied $ 170,139 $ 206,439 $ 198,592 $ 107,662 $ 63,503 $ 74,722 $ 13,572 $ 834,629 Commercial and industrial - term: Risk rating Pass $ 357,470 $ 210,906 $ 90,063 $ 39,068 $ 29,901 $ 27,354 $ - $ 754,762 OAEM 3,835 2,935 - 303 1,426 - - 8,499 Substandard 178 - - 201 - 341 - 720 Substandard non-performing 539 39 486 101 17 - - 1,182 Doubtful - - - - - - - - Total Commercial and industrial - term $ 362,022 $ 213,880 $ 90,549 $ 39,673 $ 31,344 $ 27,695 $ - $ 765,163 Commercial and industrial - PPP Risk rating Pass $ - $ 14,212 $ 4,047 $ - $ - $ - $ - $ 18,259 OAEM - - 313 - - - - 313 Substandard - - - - - - - - Substandard non-performing - - 21 - - - - 21 Doubtful - - - - - - - - Total Commercial and industrial - PPP $ - $ 14,212 $ 4,381 $ - $ - $ - $ - $ 18,593 (continued) (continued) (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized December 31, 2022 2022 2021 2020 2019 2018 Prior cost basis Total Commercial and industrial - lines of credit Risk rating Pass $ 54,948 $ 13,999 $ 991 $ 9,179 $ 1,188 $ 1,033 $ 367,688 $ 449,026 OAEM - - - - - 366 12,491 12,857 Substandard - - 905 1,915 - - 762 3,582 Substandard non-performing - - - 273 - - 75 348 Doubtful - - - - - - - - Total Commercial and industrial - lines of credit $ 54,948 $ 13,999 $ 1,896 $ 11,367 $ 1,188 $ 1,399 $ 381,016 $ 465,813 Residential real estate - owner occupied Risk rating Pass $ 188,765 $ 189,007 $ 96,818 $ 28,316 $ 15,281 $ 70,556 $ - $ 588,743 OAEM 360 96 - 70 - - - 526 Substandard 18 - 10 - 140 277 - 445 Substandard non-performing 65 191 70 292 122 1,061 - 1,801 Doubtful - - - - - - - - Total Residential real estate - owner occupied $ 189,208 $ 189,294 $ 96,898 $ 28,678 $ 15,543 $ 71,894 $ - $ 591,515 Residential real estate - non-owner occupied Risk rating Pass $ 97,313 $ 83,458 $ 55,787 $ 34,304 $ 19,300 $ 21,720 $ - $ 311,882 OAEM 15 - 115 271 124 290 - 815 Substandard - - - - - 332 - 332 Substandard non-performing 86 21 - - - 112 - 219 Doubtful - - - - - - - - Total Residential real estate - non-owner occupied $ 97,414 $ 83,479 $ 55,902 $ 34,575 $ 19,424 $ 22,454 $ - $ 313,248 Construction and land development Risk rating Pass $ 257,559 $ 99,204 $ 45,427 $ 580 $ 5,959 $ 1,123 $ 30,378 $ 440,230 OAEM - - - - - - 999 999 Substandard 4,461 - - - - - - 4,461 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Construction and land development $ 262,020 $ 99,204 $ 45,427 $ 580 $ 5,959 $ 1,123 $ 31,377 $ 445,690 Home equity lines of credit Risk rating Pass $ - $ - $ - $ - $ - $ - $ 200,481 $ 200,481 OAEM - - - - - - - - Substandard - - - - - - 39 39 Substandard non-performing - - - - - - 205 205 Doubtful - - - - - - - - Total Home equity lines of credit $ - $ - $ - $ - $ - $ - $ 200,725 $ 200,725 (continued) (continued) (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized December 31, 2022 2022 2021 2020 2019 2018 Prior cost basis Total Consumer Risk rating Pass $ 27,308 $ 18,396 $ 5,536 $ 5,450 $ 2,270 $ 1,621 $ 78,646 $ 139,227 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing 21 56 40 62 9 31 15 234 Doubtful - - - - - - - - Total Consumer $ 27,329 $ 18,452 $ 5,576 $ 5,512 $ 2,279 $ 1,652 $ 78,661 $ 139,461 Leases Risk rating Pass $ 4,643 $ 4,344 $ 2,589 $ 535 $ 576 $ 635 $ - $ 13,322 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Leases $ 4,643 $ 4,344 $ 2,589 $ 535 $ 576 $ 635 $ - $ 13,322 Credit cards Risk rating Pass $ - $ - $ - $ - $ - $ - $ 20,413 $ 20,413 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Credit cards $ - $ - $ - $ - $ - $ - $ 20,413 $ 20,413 Total loans Risk rating Pass $ 1,492,177 $ 1,216,737 $ 760,143 $ 349,987 $ 211,733 $ 337,493 $ 735,543 $ 5,103,813 OAEM 7,105 6,814 4,968 6,069 2,226 6,286 14,000 47,468 Substandard 6,038 2,164 4,659 23,313 2,068 1,252 901 40,395 Substandard non-performing 2,244 1,218 617 728 148 8,992 295 14,242 Doubtful - - - - - - - - Total Loans $ 1,507,564 $ 1,226,933 $ 770,387 $ 380,097 $ 216,175 $ 354,023 $ 750,739 $ 5,205,918 For certain loan classes, such as credit cards, credit quality is evaluated based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in credit cards based on payment activity: September 30, December 31, (in thousands) 2023 2022 Credit cards Performing $ 24,043 $ 20,413 Non-performing 12 — Total credit cards $ 24,055 $ 20,413 Bancorp had $483,000 and $317,000, respectively, in residential real estate loans for which formal foreclosure proceedings were in process at September 30, 2023 December 31, 2022. Modifications to Borrowers Experiencing Financial Difficulty Bancorp adopted ASU 2022 02, Financial Instruments Credit Losses (Topic 326 January 1, 2023. 2022 02 During the three nine September 30, 2023, 12 90 Troubled Debt Restructuring Disclosures Prior to the Adoption of ASU 2022 02 Detail of outstanding TDRs included in total non-accrual loans follows: September 30, 2022 Specific Additional reserve commitment (in thousands) Balance allocation to lend Commercial real estate - owner occupied $ 902 $ 202 $ — Commercial & industrial - term — — — Total TDRs $ 902 $ 202 $ — During the three nine September 30, 2022, 12 90 |
Note 4 - Goodwill
Note 4 - Goodwill | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | ( 4 Goodwill As of September 30, 2023 December 31, 2022, December 31, 2022. The composition of goodwill is presented by respective acquisition below: September 30, December 31, (in thousands) 2023 2022 Commonwealth Bancshares (2022) $ 58,244 $ 58,244 Kentucky Bancshares (2021) 123,317 123,317 King Southern Bancorp (2019) 11,831 11,831 Austin State Bank (1996) 682 682 Total $ 194,074 $ 194,074 Note: The acquisition of The Bank Oldham County in 2013 GAAP requires that goodwill and intangible assets with indefinite useful lives not September 30 At September 30, 2023, not not not Changes in the carrying value of goodwill follows: Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance at beginning of period $ 194,074 $ 202,524 $ 194,074 $ 135,830 Goodwill recorded from acquisitions — — — 66,694 Provisional period adjustments — — — — Disposition of LFA — — — — Impairment — — — — Balance at end of period $ 194,074 $ 202,524 $ 194,074 $ 202,524 |
Note 5 - Core Deposit and Custo
Note 5 - Core Deposit and Customer List Intangible Assets | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | ( 5 Core Deposit and Customer List Intangible Assets Bancorp recorded CDI assets of $13 million, $4 million, $2 million and $3 million in association with the acquisitions of CB in 2022, 2021, 2019 2013, Changes in the net carrying amount of CDIs follows: Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance at beginning of period $ 13,442 $ 16,870 $ 14,958 $ 5,596 Core deposit intangible acquired — — — 12,724 Amortization (749 ) (956 ) (2,265 ) (2,406 ) Balance at end of period $ 12,693 $ 15,914 $ 12,693 $ 15,914 As a result of the CB acquisition, Bancorp also recorded intangible assets totaling $14 million associated with the customer lists of the acquired WM&T and LFA businesses. Of this total, $12 million was recorded for WM&T and $2 million was recorded for LFA. Similar to CDI assets, these intangibles also amortize over their estimated useful lives. As previously noted, Bancorp’s interest in LFA was sold effective December 31, 2022. fourth December 31, 2022. Changes in the net carrying amount of CLIs follows: Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance at beginning of period $ 9,196 $ 13,487 $ 10,032 $ - Customer list intangibles acquired — — — 14,360 Disposition of LFA — — — — Amortization (418 ) (654 ) (1,254 ) (1,527 ) Balance at end of period $ 8,778 $ 12,833 $ 8,778 $ 12,833 Future CDI and CLI amortization expense is estimated as follows: (in thousands) CDI CLI Remainder of 2023 $ 750 $ 418 2024 2,686 1,520 2025 2,375 1,368 2026 2,063 1,216 2027 1,752 1,064 2028 1,339 912 2029 888 760 2030 576 608 2031 264 456 2032 - 304 2033 - 152 Total future expense $ 12,693 $ 8,778 |
Note 6 - Other Assets
Note 6 - Other Assets | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | ( 6 Other Assets A summary of the major components of other assets follows: September 30, December 31, (in thousands) 2023 2022 Cash surrender value of life insurance other than BOLI $ 16,575 $ 15,496 Net deferred tax asset 59,110 54,145 Investments in tax credit partnerships 117,204 13,969 Swap assets 17,590 10,727 Prepaid assets 4,224 5,721 Trust fees receivable 3,781 3,354 Mortgage servicing rights 13,558 15,219 Other real estate owned 427 677 Other 14,200 15,680 Total other assets $ 246,669 $ 134,988 Bancorp maintains life insurance policies other than BOLI in conjunction with its non-qualified defined benefit retirement and non-qualified compensation plans. Bancorp periodically invests in certain partnerships that generate federal income tax credits. The tax benefit of these investments exceeds to amortization expense associated with them, resulting in a positive impact on net income. The investments in such partnerships are recorded in Other assets on the consolidated balance sheets, while the corresponding contribution requirements are recorded in Other liabilities. Contributions are typically spread over the life of the respective investments, which can be up to 10 2023, Bancorp enters into interest rate swap transactions with borrowers who desire to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. These are undesignated derivative instruments and are recognized on the balance sheet at fair value. For additional information, see the footnote titled “ Derivative Financial Instruments. For additional information related to MSRs, see the footnote titled “ Mortgage Banking Activities. |
Note 7 - Income Taxes
Note 7 - Income Taxes | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 7 Income Taxes Components of income tax expense from operations follows: Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Current income tax expense: Federal $ 7,129 $ 9,231 $ 20,409 $ 12,838 State 1,859 1,261 4,223 1,875 Total current income tax expense 8,988 10,492 24,632 14,713 Deferred income tax expense: Federal (1,087 ) (1,922 ) (1,311 ) 1,542 State (259 ) 454 428 1,761 Total deferred income tax expense (1,346 ) (1,468 ) (883 ) 3,303 Change in valuation allowance - - - - Total income tax expense $ 7,642 $ 9,024 $ 23,749 $ 18,016 An analysis of the difference between the statutory and ETRs from operations follows: Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 3.3 3.6 3.4 3.5 Excess tax benefit from stock-based compensation arrangements 0.1 - (0.3 ) (1.3 ) Change in cash surrender value of life insurance (0.1 ) - (0.5 ) 0.6 Tax credits (0.7 ) (0.5 ) (0.5 ) (0.6 ) Tax exempt interest income (0.5 ) (0.5 ) (0.5 ) (0.7 ) Non-deductible merger expenses - - - 0.2 Insurance captive (0.2 ) (0.3 ) (0.3 ) (0.3 ) Other, net (0.9 ) 0.7 (0.2 ) (0.3 ) Effective tax rate 22.0 % 24.0 % 22.1 % 22.1 % Current state income tax expense for 2023 2022 On April 10, 2023, 831 three not fourth 2023. not August 2023 not GAAP provides guidance on financial statement recognition and measurement of tax positions taken, or expected to be taken, in tax returns. If recognized, tax benefits would reduce tax expense and accordingly, increase net income. The amount of unrecognized tax benefits may September 30, 2023 December 31, 2022, 2018. |
Note 8 - Deposits
Note 8 - Deposits | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | ( 8 Deposits The composition of deposits follows: (in thousands) September 30, 2023 December 31, 2022 Non-interest bearing demand deposits $ 1,714,918 $ 1,950,198 Interest bearing deposits: Interest bearing demand 2,283,373 2,308,960 Savings 455,515 535,903 Money market 1,085,844 1,124,100 Time deposits of $250 thousand or more 229,943 97,638 Other time deposits 633,214 374,453 Total time deposits (1) 863,157 472,091 Total interest bearing deposits 4,687,889 4,441,054 Total deposits $ 6,402,807 $ 6,391,252 ( 1 Includes $591 and $599 in brokered deposits as of September 30, 2023 December 31, 2022, |
Note 9 - Securities Sold Under
Note 9 - Securities Sold Under Agreements to Repurchase | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | ( 9 Securities Sold Under Agreements to Repurchase SSUAR represent a funding source of Bancorp and are primarily used by commercial customers in conjunction with collateralized corporate cash management accounts. Such repurchase agreements are considered financing agreements and mature within one September 30, 2023 December 31, 2022, Information concerning SSUAR follows: (dollars in thousands) September 30, 2023 December 31, 2022 Outstanding balance at end of period $ 113,894 $ 133,342 Weighted average interest rate at end of period 1.76 % 1.64 % Three months ended Nine months ended September 30, September 30, (dollars in thousands) 2023 2022 2023 2022 Average outstanding balance during the period $ 127,063 $ 139,749 $ 120,740 $ 123,845 Average interest rate during the period 1.86 % 0.50 % 1.58 % 0.27 % Maximum outstanding at any month end during the period $ 127,931 $ 139,825 $ 138,347 $ 149,179 |
Note 10 - Subordinated Debentur
Note 10 - Subordinated Debentures | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 10 Subordinated Debentures As a result of its acquisition of Commonwealth Bancshares, Inc. on March 7, 2022, not October 1, 2023 September 30, 2023: (dollars in thousands) Face Value Carrying Value Origination Date Maturity Date Interest Rate Commonwealth Statutory Trust III $ 3,093 $ 3,074 12/19/2003 1/7/2034 SOFR + 2.85% Commonwealth Statutory Trust IV 12,372 12,296 12/15/2005 12/30/2035 SOFR + 1.35% Commonwealth Statutory Trust V 11,341 11,271 6/28/2007 9/15/2037 SOFR + 1.40% Total $ 26,806 $ 26,641 As part of the purchase accounting adjustments associated with the CB acquisition, the carrying values of the subordinated notes were adjusted to fair value at acquisition date. The related discounts on the subordinated notes are amortized and recognized as a component of interest expense in Bancorp’s consolidated financial statements. |
Note 11 - FHLB Advances and Oth
Note 11 - FHLB Advances and Other Borrowings | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | ( 11 FHLB Advances and Other Borrowings FHLB advances outstanding at September 30, 2023 three November 2023. December 31, 2022 January 2023. For the nine September 30, 2023, 90 nine September 30, 2023, nine September 30, 2022. (dollars in thousands) September 30, 2023 December 31, 2022 Outstanding balance at end of period $ 350,000 $ 50,000 Weighted average interest rate at end of period 5.51 % 4.37 % Three months ended Nine months ended September 30, September 30, (dollars in thousands) 2023 2022 2023 2022 Average outstanding balance during the period $ 401,630 $ - $ 305,220 $ - Average interest rate during the period 4.86 % - % 4.65 % - % Maximum outstanding at any month end during the period $ 425,000 $ - $ 425,000 $ - FHLB advances are collateralized by certain CRE and residential real estate mortgage loans under blanket mortgage collateral pledge agreements, as well as FHLB stock. Bancorp views these advances as an effective lower-costing funding option compared to other alternatives, such as brokered deposits, to fund loan growth. At September 30, 2023 December 31, 2022, Bancorp also had unsecured available FFP lines with correspondent banks totaling $80 million at both September 30, 2023 December 31, 2022, |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 12 Commitments and Contingent Liabilities As of September 30, 2023 December 31, 2022, not (in thousands) September 30, 2023 December 31, 2022 Commercial and industrial $ 906,111 $ 784,429 Construction and land development 531,839 449,028 Home equity 375,424 358,610 Credit cards 81,774 64,231 Overdrafts 55,252 57,193 Letters of credit 32,883 34,704 Other 94,516 93,419 Future loan commitments 239,236 221,973 Total off balance sheet commitments to extend credit $ 2,317,035 $ 2,063,587 Commitments to extend credit are an agreement to lend to a customer either unsecured or secured, as long as collateral is available as agreed upon and there is no not may At September 30, 2023 December 31, 2022, three nine September 30, 2023, Provision for credit loss expense for off balance sheet credit exposures (excluding acquisition-related activity) of $700,000 and $800,000 was recorded for the three nine September 30, 2022, first 2022 Standby letters of credit are conditional commitments issued by Bancorp to guarantee the performance of a customer to a first one two Certain commercial customers require confirmation of Bancorp’s letters of credit by other banks since Bancorp does not one one six September 30, 2023, No Bancorp periodically invests in certain partnerships that generate federal income tax credits, which result in contribution commitments. Such commitments are recorded in Other liabilities on the consolidated balance sheets and are typically spread over the life of the corresponding investments, which can be up to 10 2023, September 30, 2023, As of September 30, 2023, not |
Note 13 - Assets and Liabilitie
Note 13 - Assets and Liabilities Measured and Reported at Fair Value | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | ( 13 Assets and Liabilities Measured and Reported at Fair Value Fair value represents the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three may Level 1 Level 2 1 not Level 3 Bancorp used the following methods and significant assumptions to estimate fair value of each type of financial instrument: AFS debt securities - 2 1 Mortgage loans held for sale 2 Mortgage banking derivatives not 2 Interest rate swap agreements 2 Carrying values of assets measured at fair value on a recurring basis follows: Fair Value Measurements Using: Total September 30, 2023 (in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Available for sale debt securities: U.S. Treasury and other U.S. Government obligations $ 118,009 $ — $ — $ 118,009 Government sponsored enterprise obligations — 109,233 — 109,233 Mortgage backed securities - government agencies — 672,666 — 672,666 Obligations of states and political subdivisions — 116,891 — 116,891 Other — 3,449 — 3,449 Total available for sale debt securities 118,009 902,239 — 1,020,248 Mortgage loans held for sale — 6,535 — 6,535 Rate lock loan commitments — 202 — 202 Mandatory forward contracts — 110 — 110 Interest rate swap assets — 17,590 — 17,590 Total assets $ 118,009 $ 926,676 $ — $ 1,044,685 Liabilities: Interest rate swap liabilities $ — $ 11,929 $ — $ 11,929 Fair Value Measurements Using: Total December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Available for sale debt securities: U.S. Treasury and other U.S. Government obligations $ 115,039 $ — $ — $ 115,039 Government sponsored enterprise obligations — 143,626 — 143,626 Mortgage backed securities - government agencies — 752,738 — 752,738 Obligations of states and political subdivisions — 127,599 — 127,599 Other — 5,615 — 5,615 Total available for sale debt securities 115,039 1,029,578 — 1,144,617 Mortgage loans held for sale — 2,606 — 2,606 Rate lock loan commitments — 137 — 137 Mandatory forward contracts — 47 — 47 Interest rate swaps — 10,727 — 10,727 Total assets $ 115,039 $ 1,043,095 $ — $ 1,158,134 Liabilities: Interest rate swaps $ — $ 10,737 $ — $ 10,737 There were no 3 2023 2022. Discussion of assets measured at fair value on a non-recurring basis follows: Collateral dependent loans third may no one three third may OREO third may no one three Carrying values of assets measured at fair value on a non-recurring basis follows: Losses recorded Three months Nine months Fair Value Measurements Using: Total ended ended September 30, 2023 (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2023 September 30, 2023 Collateral dependent loans $ — $ — $ 12,141 $ 12,141 $ 1,377 $ 1,377 Other real estate owned — — 427 427 250 250 Losses recorded Three months Nine months Fair Value Measurements Using: Total ended ended December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2022 September 30, 2022 Collateral dependent loans $ — $ — $ 20,637 $ 20,637 $ 377 $ 377 Other real estate owned — — 677 677 — — There were no liabilities measured at fair value on a non-recurring basis at September 30, 2023 December 31, 2022. For Level 3 September 30, 2023 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Collateral dependent loans $ 12,141 Appraisal Appraisal discounts 21.2 % Other real estate owned 427 Appraisal Appraisal discounts 78.3 December 31, 2022 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Collateral dependend loans $ 20,637 Appraisal Appraisal discounts 23.3 % Other real estate owned 677 Appraisal Appraisal discounts 65.6 |
Note 14 - Disclosure of Financi
Note 14 - Disclosure of Financial Instruments Not Reported at Fair Value | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 14 Disclosure of Financial Instruments Not GAAP requires disclosure of the fair value of financial assets and liabilities, including those financial assets and financial liabilities that are not not Carrying Fair Value Measurements Using: September 30, 2023 (in thousands) amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 193,037 $ 193,037 $ 193,037 $ — $ — HTM debt securities 445,205 397,418 — 397,418 — Federal Home Loan Bank stock 26,241 26,241 — 26,241 — Loans, net 5,539,009 5,263,127 — — 5,263,127 Accrued interest receivable 23,777 23,777 23,777 — — Liabilities Non-interest bearing deposits $ 1,714,918 $ 1,714,918 $ 1,714,918 $ — $ — Transaction deposits 3,824,732 3,824,732 — 3,824,732 — Time deposits 863,157 852,693 — 852,693 — Securities sold under agreement to repurchase 113,894 113,894 — 113,894 — Federal funds purchased 11,518 11,518 — 11,518 — Subordinated debentures 26,641 25,988 — 25,988 — FHLB advances 350,000 345,101 — 345,101 — Accrued interest payable 1,836 1,836 1,836 — — Carrying Fair Value Measurements Using: December 31, 2022 (in thousands) amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 167,367 $ 167,367 $ 167,367 $ — $ — HTM debt securities 473,217 431,833 — 431,833 — Federal Home Loan Bank stock 10,928 10,928 — 10,928 — Loans, net 5,132,387 4,914,770 — — 4,914,770 Accrued interest receivable 22,157 22,157 22,157 — — Liabilities Non-interest bearing deposits $ 1,950,198 $ 1,950,198 $ 1,950,198 $ — $ — Transaction deposits 3,968,963 3,968,963 — 3,968,963 — Time deposits 472,091 459,467 — 459,467 — Securities sold under agreement to repurchase 133,342 133,342 — 133,342 — Federal funds purchased 8,789 8,789 — 8,789 — Subordinated debentures 26,343 26,460 — 26,460 — FHLB advances 50,000 50,000 — 50,000 — Accrued interest payable 660 660 660 — — Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. Because no may not |
Note 15 - Mortgage Banking Acti
Note 15 - Mortgage Banking Activities | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Regulatory Capital Requirements for Mortgage Companies Disclosure [Text Block] | ( 15 Mortgage Banking Activities Mortgage banking activities primarily include residential mortgage originations and servicing. Mortgages originated and intended for sale in the secondary market are carried at fair value, as determined by outstanding commitments from investors. Activity for mortgage loans held for sale, at fair value, was as follows: Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance, beginning of period: $ 7,069 $ 10,045 $ 2,606 $ 8,614 Origination of mortgage loans held for sale 30,775 31,446 86,100 111,026 Loans held for sale acquired — — — 3,559 Proceeds from the sale of mortgage loans held for sale (31,814 ) (36,427 ) (83,422 ) (118,639 ) Net gain realized on sale of mortgage loans held for sale 505 166 1,251 670 Balance, end of period $ 6,535 $ 5,230 $ 6,535 $ 5,230 The following table represents the components of Mortgage banking income: Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Net gain realized on sale of mortgage loans held for sale $ 505 $ 166 $ 1,251 $ 670 Net change in fair value recognized on loans held for sale (81 ) (113 ) (65 ) (70 ) Net change in fair value recognized on rate lock loan commitments (186 ) 134 40 1,324 Net change in fair value recognized on forward contracts 214 101 340 (534 ) Net gain recognized 452 288 1,566 1,390 Net loan servicing income 1,031 1,172 3,338 3,089 Amortization of mortgage servicing rights (822 ) (869 ) (2,345 ) (2,206 ) Change in mortgage servicing rights valuation allowance - - - - Net servicing income recognized 209 303 993 883 Other mortgage banking income 153 112 323 728 Total mortgage banking income $ 814 $ 703 $ 2,882 $ 3,001 Activity for capitalized mortgage servicing rights was as follows: Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance at beginning of period $ 14,116 $ 16,504 $ 15,219 $ 4,528 MSRs acquired — — — 12,676 Additions for mortgage loans sold 264 269 684 906 Amortization (822 ) (869 ) (2,345 ) (2,206 ) Impairment — — — — Balance at end of period $ 13,558 $ 15,904 $ 13,558 $ 15,904 The estimated fair value of MSRs at both September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022, Total outstanding principal balances of loans serviced for others were $1.96 billion and $2.08 billion at September 30, 2023 December 31, 2022, Mortgage banking derivatives used in the ordinary course of business consist primarily of mandatory forward sales contracts and interest rate lock loan commitments. Mandatory forward contracts represent future loan commitments to deliver loans at a specified price and date and are used to manage interest rate risk on loan commitments and mortgage loans held for sale. Interest rate lock loan commitments represent commitments to fund loans at a specific rate. These derivatives involve underlying items, such as interest rates, and are designed to transfer risk. Substantially all of these instruments expire within 90 not Mandatory forward contracts also contain an element of risk in that the counterparties may not not Bancorp is exposed to interest rate risk on loans held for sale and rate lock loan commitments. As market interest rates fluctuate, the fair value of mortgage loans held for sale and rate lock commitments will decline or increase. To offset this interest rate risk the Bank enters into derivatives, such as mandatory forward contracts to sell loans. The fair value of these mandatory forward contracts will fluctuate as market interest rates fluctuate, and the change in the value of these instruments is expected to largely, though not The following table includes the notional amounts and fair values of mortgage loans held for sale and mortgage banking derivatives: September 30, 2023 December 31, 2022 (in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in Mortgage loans held for sale: Mortgage loans held for sale, at fair value $ 6,542 $ 6,535 $ 2,548 $ 2,606 Included in other assets: Rate lock loan commitments $ 7,632 $ 202 $ 5,599 $ 137 Mandatory forward contracts 8,038 110 6,581 47 |
Note 16 - Accumulated Other Com
Note 16 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 16 Accumulated Other Comprehensive Income (Loss) The following table illustrates activity within the balances of AOCI by component: Net unrealized Net unrealized Minimum gains (losses) gains pension on available for on cash liability (in thousands) sale debt securities flow hedges adjustment Total Three months ended September 30, 2023 Balance, beginning of period $ (109,741 ) $ 2,213 $ 112 $ (107,416 ) Net current period other comprehensive income (loss) (22,586 ) 2,097 - (20,489 ) Balance, end of period $ (132,327 ) $ 4,310 $ 112 $ (127,905 ) Three months ended September 30, 2022 Balance, beginning of period $ (87,054 ) $ - $ (283 ) $ (87,337 ) Net current period other comprehensive loss (40,580 ) - - (40,580 ) Balance, end of period $ (127,634 ) $ - $ (283 ) $ (127,917 ) Net unrealized Net unrealized Minimum gains (losses) gains pension on available for on cash liability (in thousands) sale debt securities flow hedges adjustment Total Nine months ended September 30, 2023 Balance, beginning of period $ (115,648 ) $ - $ 112 $ (115,536 ) Net current period other comprehensive income (loss) (16,679 ) 4,310 - (12,369 ) Balance, end of period $ (132,327 ) $ 4,310 $ 112 $ (127,905 ) Nine months ended September 30, 2022 Balance, beginning of period $ (7,657 ) $ - $ (283 ) $ (7,940 ) Net current period other comprehensive loss (119,977 ) - - (119,977 ) Balance, end of period $ (127,634 ) $ - $ (283 ) $ (127,917 ) |
Note 17 - Preferred Stock
Note 17 - Preferred Stock | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | ( 17 Preferred Stock Bancorp has one None |
Note 18 - Net Income Per Share
Note 18 - Net Income Per Share | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 18 Net Income Per Share The following table reflects net income (numerator) and average shares outstanding (denominator) for basic and diluted net income per share computations: Three months ended Nine months ended September 30, September 30, (in thousands, except per share data) 2023 2022 2023 2022 Net income available to stockholders $ 27,092 $ 28,455 $ 83,804 $ 63,155 Weighted average shares outstanding - basic 29,223 29,144 29,208 28,509 Dilutive securities 113 260 139 243 Weighted average shares outstanding- diluted 29,336 29,404 29,347 28,752 Net income per share - basic $ 0.93 $ 0.98 $ 2.87 $ 2.22 Net income per share - diluted 0.92 0.97 2.86 2.20 Certain SARs that were excluded from the EPS calculation because their impact was antidilutive were as follows: Three months ended Nine months ended (shares in thousands) September 30, September 30, 2023 2022 2023 2022 Antidilutive SARs 94 - 79 - |
Note 19 - Stock-based Compensat
Note 19 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | ( 19 Stock-Based Compensation The fair value of all stock-based awards granted, net of estimated forfeitures, is recognized as compensation expense over the respective service period. At Bancorp's 2015 2015 2005 2015 2018, September 30, 2023, 2005 April 2015 2025. 2015 no SAR Grants ten Fair values of SARs are estimated at the date of grant using the Black-Scholes option-pricing model, a leading formula for calculating such value. This model requires the input of assumptions, changes to which can materially impact the fair value estimate. The following assumptions were used in SAR valuations at the grant date in each year: Assumptions 2023 2022 Dividend yield 2.24 % 2.38 % Expected volatility 27.20 % 25.43 % Risk free interest rate 3.84 % 1.98 % Expected life (in years) 7.1 7.1 Dividend yield and expected volatility are based on historical information for Bancorp corresponding to the expected life of SARs granted. Expected volatility is the volatility of underlying shares for the expected term calculated on a monthly basis. The risk free interest rate is the implied yield currently available on U.S. Treasury issues with a remaining term equal to the expected life of the awards. The expected life of SARs is based on actual experience of past like-term SARs. Bancorp evaluates historical exercise and post-vesting termination behavior when determining the expected life. RSA Grants five PSU Grants three January 1 first not one 2023 2022. RSU Grants In the first 2023 2022, Bancorp utilized cash of $175,000 and $233,000 during the first nine 2023 2022, Bancorp has recognized stock-based compensation expense for SARs, RSAs and PSUs within compensation expense and RSUs for directors within other non-interest expense, as follows: Three months ended September 30, 2023 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 105 $ 399 $ 126 $ 402 $ 1,032 Deferred tax benefit (22 ) (84 ) (26 ) (84 ) (216 ) Total net expense $ 83 $ 315 $ 100 $ 318 $ 816 Three months ended September 30, 2022 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 94 $ 346 $ 80 $ 717 $ 1,237 Deferred tax benefit (20 ) (72 ) (17 ) (150 ) (259 ) Total net expense $ 74 $ 274 $ 63 $ 567 $ 978 Nine months ended September 30, 2023 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 310 $ 1,204 $ 392 $ 1,313 $ 3,219 Deferred tax benefit (65 ) (253 ) (82 ) (276 ) (676 ) Total net expense $ 245 $ 951 $ 310 $ 1,037 $ 2,543 Nine months ended September 30, 2022 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 282 $ 1,028 $ 252 $ 1,723 $ 3,285 Deferred tax benefit (59 ) (216 ) (53 ) (362 ) (690 ) Total net expense $ 223 $ 812 $ 199 $ 1,361 $ 2,595 Detail of unrecognized stock-based compensation expense follows: Stock (in thousands) Appreciation Restricted Restricted Performance Year ended Rights Stock Awards Stock Units Stock Units Total Remainder of 2023 $ 91 $ 398 $ 125 $ 402 $ 1,016 2024 307 1,385 3 908 2,603 2025 248 1,163 — 485 1,896 2026 190 859 — — 1,049 2027 111 504 — — 615 2028 12 42 — — 54 Total estimated future expense $ 959 $ 4,351 $ 128 $ 1,795 $ 7,233 The following table summarizes SARs Weighted Weighted Weighted average average Aggregate average remaining Exercise exercise intrinsic fair contractual (in thousands, except per share and life data) SARs price price value(1) value life (in years) Outstanding, January 1, 2022 515 $15.24 - $50.71 $ 31.16 $ 16,854 $ 5.08 5.1 Granted 34 47.17 - 74.92 55.45 — 12.07 Exercised (114 ) 15.24 - 40.00 21.55 5,258 3.63 Forfeited — — — — — Outstanding, December 31, 2022 435 $19.37 - $74.92 $ 35.60 $ 12,784 $ 6.02 5.1 Outstanding, January 1, 2023 435 $19.37 - $74.92 $ 35.60 $ 12,784 $ 6.02 5.1 Granted 29 60.76 - 60.76 60.76 — 16.81 Exercised — — — — — Forfeited — — — — — Outstanding, September 30, 2023 464 $19.37 - $74.92 $ 37.17 $ 2,529 $ 6.69 4.7 Vested and exercisable 349 $19.37 - $54.91 $ 32.99 $ 3,743 $ 5.36 3.8 Unvested 115 35.90 - 74.92 49.83 (1,214 ) 10.72 3.5 Outstanding, September 30, 2023 464 $19.37 - $74.92 $ 37.17 $ 2,529 $ 6.69 4.7 Vested in the current year 42 $35.90 - $54.91 $ 41.69 $ (100 ) $ 7.62 ( 1 Aggregate intrinsic value for SARs is defined as the amount by which the current market price of the underlying stock exceeds the exercise or grant price. The following table summarizes activity for RSAs Grant date weighted (in thousands, except per share data) RSAs average cost Unvested at January 1, 2022 99 $ 41.07 Shares awarded 35 58.47 Restrictions lapsed and shares released (32 ) 40.39 Shares forfeited (6 ) 47.49 Unvested at December 31, 2022 96 $ 47.26 Unvested at January 1, 2023 96 $ 47.26 Shares awarded 38 63.04 Restrictions lapsed and shares released (32 ) 43.87 Shares forfeited (3 ) 53.33 Unvested at September 30, 2023 99 $ 54.17 Shares expected to be awarded for PSUs three January 1 Vesting Shares Grant period Fair expected to year in years value be awarded 2021 3 44.44 47,280 2022 3 48.48 36,349 2023 3 54.33 26,804 |
Note 20 - Derivative Financial
Note 20 - Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ( 20 Derivative Financial Instruments Periodically, Bancorp enters into interest rate swap transactions with borrowers who desire to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. These are undesignated derivative instruments and are recognized on the balance sheet at fair value. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Exchanges of cash flows related to undesignated interest rate swap agreements were offsetting and therefore had no Interest rate swap agreements derive their value from underlying interest rates. These transactions involve both credit and market risk. Notional amounts are amounts on which calculations, payments and the value of the derivative are based. Notional amounts do not not Bancorp had outstanding undesignated interest rate swap contracts as follows: Receiving Paying September 30, December 31, September 30, December 31, (dollars in thousands) 2023 2022 2023 2022 Notional amount $ 169,054 $ 132,831 $ 169,054 $ 132,831 Weighted average maturity (years) 6.0 7.1 6.0 7.1 Fair value $ 11,920 $ 10,727 $ 11,929 $ 10,737 During the first 2023, three February 6, 2023 February 6, 2028. third 2023, two two three August 7, 2023, one August 6, 2026 August 6, 2028. While Bancorp expects to utilize fixed-rate three may three Interest rate swaps involve exchange of Bancorp’s floating rate interest payments for fixed rate swap payments on underlying principal amounts. These swaps were designated and qualified, for cash-flow hedge accounting. For derivative instruments that are designated and qualify as cash flow hedging instruments, the effective portion of gains or losses is reported as a component of AOCI, and is subsequently reclassified into earnings as an adjustment to interest expense in periods for which the hedged forecasted transaction impacts earnings. The following table details Bancorp’s derivative positions designated as a cash flow hedges, and the related fair values: Fair value (dollars in thousands) Pay fixed September 30, Notional Amount Maturity Date Receive (variable) index swap rate 2023 $ 100,000,000 2/6/2028 USD SOFR 3.27 % $ 4,520 $ 50,000,000 8/6/2026 USD SOFR 4.38 % $ 344 $ 50,000,000 8/6/2028 USD SOFR 3.97 % $ 806 |
Note 21 - Regulatory Matters
Note 21 - Regulatory Matters | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 21 Regulatory Matters Bancorp and the Bank are subject to capital regulations in accordance with Basel III, as administered by banking regulators. Regulatory agencies measure capital adequacy within a framework that makes capital requirements, in part, dependent on the individual risk profiles of financial institutions. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on Bancorp’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Holding Company and the Bank must meet specific capital guidelines that involve quantitative measures of Bancorp’s assets, liabilities and certain off-balance sheet items, as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators regarding components, risk weightings and other factors. Banking regulators have categorized the Bank as well-capitalized. To meet the definition of well-capitalized, a bank must have a minimum 6.5% Common Equity Tier 1 1 1 Additionally, in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers, Bancorp and the Bank must hold a 2.5% capital conservation buffer composed of Common Equity Tier 1 1 1 September 30, 2023, 1 1 not As a result of the CB acquisition, Bancorp became the 100% successor owner of the following unconsolidated trust subsidiaries: Commonwealth Statutory Trust III, Commonwealth Statutory Trust IV and Commonwealth Statutory Trust V. The sole assets of the trust subsidiaries represent the proceeds of offerings loaned in exchange for subordinated debentures with similar terms to the TPS. The TPS are treated as part of Tier 1 September 30, 2023, Bancorp continues to exceed the regulatory requirements for all calculations. Bancorp and the Bank intend to maintain a capital position that meets or exceeds the “well-capitalized” requirements as defined by the FRB and the FDIC, in addition to the capital conservation buffer. The following table sets forth consolidated Bancorp’s and the Bank’s risk based capital amounts and ratios: (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized September 30, 2023 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 831,296 12.71 % $ 523,065 8.00 % NA NA Bank 805,791 12.37 521,313 8.00 $ 651,641 10.00 % Common equity tier 1 risk-based capital (1) Consolidated 730,410 11.17 294,224 4.50 NA NA Bank 730,905 11.22 293,239 4.50 423,567 6.50 Tier 1 risk-based capital (1) Consolidated 756,410 11.57 392,298 6.00 NA NA Bank 730,905 11.22 390,985 6.00 521,313 8.00 Leverage Consolidated 756,410 9.80 308,622 4.00 NA NA Bank 730,905 9.49 308,176 4.00 385,221 5.00 (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2022 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 762,956 12.54 % $ 486,841 8.00 % NA NA Bank 732,688 12.08 485,314 8.00 $ 606,643 10.00 % Common equity tier 1 risk-based capital (1) Consolidated 672,045 11.04 273,848 4.50 NA NA Bank 667,777 11.01 272,989 4.50 394,318 6.50 Tier 1 risk-based capital (1) Consolidated 698,045 11.47 365,131 6.00 NA NA Bank 667,777 11.01 363,986 6.00 485,314 8.00 Leverage Consolidated 698,045 9.33 299,329 4.00 NA NA Bank 667,777 8.95 298,600 4.00 373,250 5.00 ( 1 Ratio is computed in relation to risk-weighted assets. NA Regulatory framework does not well-capitalized for holding companies. |
Note 22 - Segments
Note 22 - Segments | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 22 Segments Bancorp’s principal activities include commercial banking and WM&T. Commercial banking provides a full range of loan and deposit products to individual consumers and businesses. Commercial banking also includes Bancorp’s mortgage banking and investment products sales activity. WM&T provides investment management, financial & retirement planning and trust & estate services, as well as retirement plan management for businesses and corporations in all markets in which Bancorp operates. The magnitude of WM&T revenue distinguishes Bancorp from other community banks of similar asset size. Financial information for each business segment reflects that which is specifically identifiable or allocated based on an internal allocation method. Income taxes are allocated based on the effective federal income tax rate adjusted for any tax-exempt activity. All tax-exempt activity and provision have been allocated fully to the commercial banking segment. Measurement of performance of business segments is based on the management structure of Bancorp and is not not The majority of the net assets of Bancorp are involved in the commercial banking segment. As of September 30, 2023, December 31, 2022. not Selected financial information by business segment follows: Three months ended September 30, 2023 Three months ended September 30, 2022 (in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Net interest income $ 61,155 $ 160 $ 61,315 $ 62,270 $ 106 $ 62,376 Provision for credit losses 2,775 — 2,775 4,803 — 4,803 Wealth management and trust services — 10,030 10,030 — 9,152 9,152 All other non-interest income 12,866 — 12,866 15,712 — 15,712 Non-interest expenses 41,788 4,914 46,702 39,370 5,503 44,873 Income before income tax expense 29,458 5,276 34,734 33,809 3,755 37,564 Income tax expense 6,497 1,145 7,642 8,209 815 9,024 Net income 22,961 4,131 27,092 25,600 2,940 28,540 Less net income attributed to NCI — — — 85 — 85 Net income available to stockholders $ 22,961 $ 4,131 $ 27,092 $ 25,515 $ 2,940 $ 28,455 Segment assets $ 7,867,626 $ 35,804 $ 7,903,430 $ 7,522,113 $ 32,097 $ 7,554,210 Nine months ended September 30, 2023 Nine months ended September 30, 2022 (in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Net interest income $ 184,895 $ 421 $ 185,316 $ 167,811 $ 309 $ 168,120 Provision for credit losses 7,750 — 7,750 6,882 — 6,882 Wealth management and trust services — 29,703 29,703 — 26,890 26,890 All other non-interest income 38,100 — 38,100 39,117 — 39,117 Non-interest expenses 121,265 16,551 137,816 129,936 15,909 145,845 Income before income tax expense 93,980 13,573 107,553 70,110 11,290 81,400 Income tax expense 20,804 2,945 23,749 15,566 2,450 18,016 Net income 73,176 10,628 83,804 54,544 8,840 63,384 Less net income attributed to NCI — — — 229 — 229 Net income available to stockholders $ 73,176 $ 10,628 $ 83,804 $ 54,315 $ 8,840 $ 63,155 Segment assets $ 7,867,626 $ 35,804 $ 7,903,430 $ 7,522,113 $ 32,097 $ 7,554,210 |
Note 23 - Revenue From Contract
Note 23 - Revenue From Contracts With Customers | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 23 Revenue from Contracts with Customers All of Bancorp’s revenue from contracts with customers in the scope of ASC 606 606 Three months ended September 30, 2023 Three months ended September 30, 2022 (in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Wealth management and trust services $ — $ 10,030 $ 10,030 $ — $ 9,152 $ 9,152 Deposit service charges 2,272 — 2,272 2,179 — 2,179 Debit and credit card income 4,870 — 4,870 4,710 — 4,710 Treasury management fees 2,635 — 2,635 2,221 — 2,221 Mortgage banking income (1) 814 — 814 703 — 703 Net investment product sales commissions and fees 791 — 791 892 — 892 Bank owned life insurance (1) 569 — 569 516 — 516 Gain (loss) on sale of premises and equipment (1) 302 — 302 3,074 — 3,074 Other (2) 613 — 613 1,417 — 1,417 Total non-interest income $ 12,866 $ 10,030 $ 22,896 $ 15,712 $ 9,152 $ 24,864 Nine months ended September 30, 2023 Nine months ended September 30, 2022 (Dollars in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Wealth management and trust services $ — $ 29,703 $ 29,703 $ — $ 26,890 $ 26,890 Deposit service charges 6,622 — 6,622 6,103 — 6,103 Debit and credit card income 14,064 — 14,064 13,577 — 13,577 Treasury management fees 7,502 — 7,502 6,312 — 6,312 Mortgage banking income (1) 2,882 — 2,882 3,001 — 3,001 Net investment product sales commissions and fees 2,345 — 2,345 2,230 — 2,230 Bank owned life insurance (1) 1,677 — 1,677 1,052 — 1,052 Gain (loss) on sale of premises and equipment (1) 75 — 75 3,046 — 3,046 Other(2) 2,933 — 2,933 3,796 — 3,796 Total non-interest income $ 38,100 $ 29,703 $ 67,803 $ 39,117 $ 26,890 $ 66,007 ( 1 606. ( 2 606, Bancorp’s revenue on the consolidated statement of income is categorized by product type, which effectively depicts how the nature, timing and extent of cash flows are affected by economic factors. Revenue sources within the scope of ASC 606 Bancorp earns fees from its deposit customers for transaction-based, account management and overdraft services. Transaction-based fees, which include services such as ATM use fees and stop payments fees, are recognized at the time the transaction is executed, as that is when the company fulfills the performance obligation. Account management fees are earned over the course of a month and charged in the month in which the services are provided. Treasury management transaction fees are recognized at the time the transaction is executed, as that is when the company fulfills the performance obligation. Account analysis fees are earned over the course of a month and charged in the month in which the services are provided. Treasury management fees are withdrawn from customers’ account balances. WM&T provides customers fiduciary and investment management services as agreed upon in asset management contracts. The contracts require WM&T to provide a series of distinct services for which fees are earned over time. The contracts are cancellable upon demand with fees typically based upon the asset value of investments. Revenue is accrued and recognized monthly based upon month-end asset values and collected from the customer predominately in the following month except for a small percentage of fees collected quarterly. Incentive compensation related to WM&T activities is considered a cost of obtaining the contract. Contracts between WM&T and customers do not none September 30, 2023 December 31, 2022, Net investment products sales commissions and fees represent the Bank’s share of transaction fees and wrap fees resulting from investment services and programs provided through an agent relationship with a third third not nine September 30, 2023 2022. Debit and credit card revenue primarily consists of debit and credit card interchange income. Interchange income represents fees assessed within the payment card system for acceptance of card-based transactions. Interchange fees are assessed as the performance obligation is satisfied, which is at the point in time the card transaction is authorized. Revenue is collected and recognized daily through the payment network settlement process. Bancorp did not 606, three nine September 30, 2023. |
Note 24 - Leases
Note 24 - Leases | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 24 Leases Bancorp has operating leases for various locations with terms ranging from approximately six five 2022. 12 not Balance sheet, income statement and cash flow detail regarding operating leases follows: (dollars in thousands) September 30, 2023 December 31, 2022 Balance Sheet Operating lease right-of-use asset $ 17,720 $ 19,694 Operating lease liability 18,947 21,008 Weighted average remaining lease term (years) 9.3 9.0 Weighted average discount rate 2.70 % 2.57 % Maturities of lease liabilities: One year or less $ 872 $ 3,453 Year two 3,345 3,293 Year three 2,676 2,739 Year four 2,168 2,339 Year five 2,018 2,245 Greater than five years 10,496 9,559 Total lease payments $ 21,575 $ 23,628 Less imputed interest 2,628 2,620 Total $ 18,947 $ 21,008 Three months ended Three months ended (in thousands) September 30, 2023 September 30, 2022 Income Statement Components of lease expense: Operating lease cost $ 815 $ 793 Variable lease cost 96 57 Less sublease income 25 24 Total lease cost $ 886 $ 826 Nine months ended Nine months ended (in thousands) September 30, 2023 September 30, 2022 Income Statement Components of lease expense: Operating lease cost $ 2,492 $ 2,241 Variable lease cost 235 172 Less sublease income 75 72 Total lease cost $ 2,652 $ 2,341 Nine months ended Nine months ended (in thousands) September 30, 2023 September 30, 2022 Cash flow Statement Supplemental cash flow information: Operating cash flows from operating leases $ 3,111 $ 2,746 As of September 30, 2023, one |
Insider Trading Arrangements
Insider Trading Arrangements | 9 Months Ended |
Sep. 30, 2023 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | OTHER |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications no |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of New Accounting Guidance In March 2022, 2022 02, Financial Instruments Credit Losses (Topic 326 2022 02 310 40, Receivables Troubled Debt Restructurings by Creditors 2016 13, Financial Instruments Credit Losses (Topic 326 2022 02 326 20, Financial Instruments Credit Losses Measured at Amortized Cost. December 15, 2022 not Accounting Standards Updates not not In March 2023, 2023 02, Investments Equity Method and Join Ventures (Topic 323 December 15, 2023. 2023 02 not |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | (in thousands) Amortized Unrealized Fair September 30, 2023 cost Gains Losses value U.S. Treasury and other U.S. Government obligations $ 123,500 $ - $ (5,491 ) $ 118,009 Government sponsored enterprise obligations 115,862 184 (6,813 ) 109,233 Mortgage backed securities - government agencies 814,224 - (141,558 ) 672,666 Obligations of states and political subdivisions 138,279 - (21,388 ) 116,891 Other 3,856 - (407 ) 3,449 Total available for sale debt securities $ 1,195,721 $ 184 $ (175,657 ) $ 1,020,248 December 31, 2022 U.S. Treasury and other U.S. Government obligations $ 122,966 $ - $ (7,927 ) $ 115,039 Government sponsored enterprise obligations 149,773 290 (6,437 ) 143,626 Mortgage backed securities - government agencies 874,265 58 (121,585 ) 752,738 Obligations of states and political subdivisions 145,016 1 (17,418 ) 127,599 Other 5,957 - (342 ) 5,615 Total available for sale debt securities $ 1,297,977 $ 349 $ (153,709 ) $ 1,144,617 |
Debt Securities, Held-to-Maturity [Table Text Block] | (in thousands) Carrying Unrecognized Fair September 30, 2023 value Gains Losses value U.S. Treasury and other U.S. Government obligations $ 204,139 $ - $ (7,645 ) $ 196,494 Government sponsored enterprise obligations 26,972 - (3,536 ) 23,436 Mortgage backed securities - government agencies 214,094 - (36,606 ) 177,488 Total held to maturity debt securities $ 445,205 $ - $ (47,787 ) $ 397,418 December 31, 2022 U.S. Treasury and other U.S. Government obligations $ 217,794 $ - $ (9,166 ) $ 208,628 Government sponsored enterprise obligations 27,507 - (2,559 ) 24,948 Mortgage backed securities - government agencies 227,916 - (29,659 ) 198,257 Total held to maturity debt securities $ 473,217 $ - $ (41,384 ) $ 431,833 |
Investments Classified by Contractual Maturity Date [Table Text Block] | AFS Debt Securities HTM Debt Securities (in thousands) Amortized cost Fair value Carrying value Fair value Due within one year $ 117,105 $ 112,410 $ 51,077 $ 50,188 Due after one year but within five years 54,505 50,972 153,800 147,004 Due after five years but within 10 years 79,708 66,296 25,660 22,176 Due after 10 years 130,179 117,904 574 562 Mortgage backed securities - government agencies 814,224 672,666 214,094 177,488 Total $ 1,195,721 $ 1,020,248 $ 445,205 $ 397,418 |
Schedule of Unrealized Loss on Investments [Table Text Block] | AFS Debt Securities Less than 12 months 12 months or more Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2023 value losses value losses value losses U.S. Treasury and other U.S. Government obligations $ - $ - $ 118,009 $ (5,491 ) $ 118,009 $ (5,491 ) Government sponsored enterprise obligations 10,262 (42 ) 83,081 (6,771 ) 93,343 (6,813 ) Mortgage-backed securities - government agencies 29,149 (1,633 ) 643,517 (139,925 ) 672,666 (141,558 ) Obligations of states and political subdivisions 13,482 (929 ) 103,094 (20,459 ) 116,576 (21,388 ) Other - - 3,449 (407 ) 3,449 (407 ) Total AFS debt securities $ 52,893 $ (2,604 ) $ 951,150 $ (173,053 ) $ 1,004,043 $ (175,657 ) December 31, 2022 U.S. Treasury and other U.S. Government obligations $ 3,025 $ (57 ) $ 111,966 $ (7,870 ) $ 114,991 $ (7,927 ) Government sponsored enterprise obligations 99,785 (3,553 ) 22,484 (2,884 ) 122,269 (6,437 ) Mortgage-backed securities - government agencies 180,263 (11,114 ) 567,988 (110,471 ) 748,251 (121,585 ) Obligations of states and political subdivisions 64,165 (3,763 ) 56,864 (13,655 ) 121,029 (17,418 ) Other 4,865 (213 ) 749 (129 ) 5,614 (342 ) Total AFS debt securities $ 352,103 $ (18,700 ) $ 760,051 $ (135,009 ) $ 1,112,154 $ (153,709 ) HTM Debt Securities Less than 12 months 12 months or more Total (in thousands) Fair Unrecognized Fair Unrecognized Fair Unrecognized September 30, 2023 value losses value losses value losses U.S. Treasury and other U.S. Government obligations $ - $ - $ 196,494 $ (7,645 ) $ 196,494 $ (7,645 ) Government sponsored enterprise obligations 1,415 (4 ) 22,009 (3,532 ) 23,424 (3,536 ) Mortgage-backed securities - government agencies - - 177,451 (36,606 ) 177,451 (36,606 ) Total HTM debt securities $ 1,415 $ (4 ) $ 395,954 $ (47,783 ) $ 397,369 $ (47,787 ) December 31, 2022 U.S. Treasury and other U.S. Government obligations $ 208,628 $ (9,166 ) $ - $ - $ 208,628 $ (9,166 ) Government sponsored enterprise obligations 24,948 (2,559 ) - - 24,948 (2,559 ) Mortgage-backed securities - government agencies 198,257 (29,659 ) - - 198,257 (29,659 ) Total HTM debt securities $ 431,833 $ (41,384 ) $ - $ - $ 431,833 $ (41,384 ) |
Note 3 - Loans and Allowance _2
Note 3 - Loans and Allowance for Credit Losses on Loans (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (in thousands) September 30, 2023 December 31, 2022 Commercial real estate - non-owner occupied $ 1,508,615 $ 1,397,346 Commercial real estate - owner occupied 945,122 834,629 Total commercial real estate 2,453,737 2,231,975 Commercial and industrial - term 826,201 765,163 Commercial and industrial - term - PPP 4,827 18,593 Commercial and industrial - lines of credit 419,999 465,813 Total commercial and industrial 1,251,027 1,249,569 Residential real estate - owner occupied 696,162 591,515 Residential real estate - non-owner occupied 350,386 313,248 Total residential real estate 1,046,548 904,763 Construction and land development 480,120 445,690 Home equity lines of credit 203,184 200,725 Consumer 143,703 139,461 Leases 14,710 13,322 Credits cards 24,055 20,413 Total loans (1) $ 5,617,084 $ 5,205,918 |
Purchased Financial Assets with Credit Deterioration [Table Text Block] | CB (in thousands) March 7, 2022 Purchase price of PCD loans at acquisition $ 88,549 Allowance for credit losses at acquisition (9,950 ) Non-credit discount at acquisition (4,094 ) Fair value of PCD loans at acquisition $ 74,505 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (in thousands) Three Months Ended September 30, 2023 Beginning Balance Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 21,773 $ (420 ) $ - $ 17 $ 21,370 Commercial real estate - owner occupied 11,557 1,088 - 6 12,651 Total commercial real estate 33,330 668 - 23 34,021 Commercial and industrial - term 14,792 1,026 (1,878 ) 16 13,956 Commercial and industrial - lines of credit 6,503 (158 ) - 1 6,346 Total commercial and industrial 21,295 868 (1,878 ) 17 20,302 Residential real estate - owner occupied 8,835 278 - 6 9,119 Residential real estate - non-owner occupied 4,169 55 - - 4,224 Total residential real estate 13,004 333 - 6 13,343 Construction and land development 6,752 227 - - 6,979 Home equity lines of credit 1,609 (7 ) - - 1,602 Consumer 1,285 184 (232 ) 131 1,368 Leases 205 7 - - 212 Credit cards 230 20 (5 ) 3 248 Total $ 77,710 $ 2,300 $ (2,115 ) $ 180 $ 78,075 (in thousands) Nine Months Ended September 30, 2023 Beginning Balance Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 22,641 $ (1,324 ) $ - $ 53 $ 21,370 Commercial real estate - owner occupied 10,827 1,818 - 6 12,651 Total commercial real estate 33,468 494 - 59 34,021 Commercial and industrial - term 12,991 2,955 (2,006 ) 16 13,956 Commercial and industrial - lines of credit 6,389 (193 ) - 150 6,346 Total commercial and industrial 19,380 2,762 (2,006 ) 166 20,302 Residential real estate - owner occupied 6,717 2,418 (43 ) 27 9,119 Residential real estate - non-owner occupied 3,597 625 - 2 4,224 Total residential real estate 10,314 3,043 (43 ) 29 13,343 Construction and land development 7,186 (207 ) - - 6,979 Home equity lines of credit 1,613 1 (12 ) - 1,602 Consumer 1,158 473 (639 ) 376 1,368 Leases 201 11 - - 212 Credit cards 211 123 (105 ) 19 248 Total $ 73,531 $ 6,700 $ (2,805 ) $ 649 $ 78,075 (in thousands) Three Months Ended September 30, 2022 Beginning Balance Initial ACL on PCD Loans Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 20,723 $ - $ 502 $ (37 ) $ - $ 21,188 Commercial real estate - owner occupied 9,842 - (227 ) - 153 9,768 Total commercial real estate 30,565 - 275 (37 ) 153 30,956 Commercial and industrial - term 12,342 - 2,055 (466 ) 232 14,163 Commercial and industrial - lines of credit 5,000 - 203 (99 ) - 5,104 Total commercial and industrial 17,342 - 2,258 (565 ) 232 19,267 Residential real estate - owner occupied 5,988 - 423 (17 ) 2 6,396 Residential real estate - non-owner occupied 3,190 - 146 - 9 3,345 Total residential real estate 9,178 - 569 (17 ) 11 9,741 Construction and land development 6,214 - 731 - - 6,945 Home equity lines of credit 1,521 - 105 - - 1,626 Consumer 1,113 - 162 (307 ) 148 1,116 Leases 221 - (10 ) - - 211 Credit cards 208 - 13 - - 221 Total $ 66,362 $ - $ 4,103 $ (926 ) $ 544 $ 70,083 (in thousands) Nine Months Ended September 30, 2022 Beginning Balance Initial ACL on Loans Purchased with Credit Deterioration Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 15,960 $ 3,508 $ 1,744 $ (37 ) $ 13 $ 21,188 Commercial real estate - owner occupied 9,595 2,121 (2,103 ) (41 ) 196 9,768 Total commercial real estate 25,555 5,629 (359 ) (78 ) 209 30,956 Commercial and industrial - term 8,577 1,358 3,796 (594 ) 1,026 14,163 Commercial and industrial - lines of credit 4,802 1,874 (1,437 ) (135 ) - 5,104 Total commercial and industrial 13,379 3,232 2,359 (729 ) 1,026 19,267 Residential real estate - owner occupied 4,316 590 1,458 (30 ) 62 6,396 Residential real estate - non-owner occupied 3,677 - (349 ) - 17 3,345 Total residential real estate 7,993 590 1,109 (30 ) 79 9,741 Construction and land development 4,789 419 1,809 (72 ) - 6,945 Home equity lines of credit 1,044 2 580 - - 1,626 Consumer 772 78 565 (796 ) 497 1,116 Leases 204 - 7 - - 211 Credit cards 162 - 12 - 47 221 Total $ 53,898 $ 9,950 $ 6,082 $ (1,705 ) $ 1,858 $ 70,083 (in thousands) September 30, 2023 Real Estate Accounts Receivable / Equipment Other Total ACL Allocation Commercial real estate - non-owner occupied $ 14,004 $ - $ - $ 14,004 $ 1,892 Commercial real estate - owner occupied 2,906 - - 2,906 840 Total commercial real estate 16,910 - - 16,910 2,732 Commercial and industrial - term 432 4,847 - 5,279 412 Commercial and industrial - lines of credit 2,690 159 - 2,849 739 Total commercial and industrial 3,122 5,006 - 8,128 1,151 Residential real estate - owner occupied 3,251 - - 3,251 206 Residential real estate - non-owner occupied 567 - - 567 116 Total residential real estate 3,818 - - 3,818 322 Construction and land development - - - - - Home equity lines of credit 304 - - 304 - Consumer - - 275 275 20 Leases - - - - - Credit cards - - - - - Total collateral dependent loans $ 24,154 $ 5,006 $ 275 $ 29,435 $ 4,225 (in thousands) December 31, 2022 Real Estate Accounts Receivable / Equipment Other Total ACL Allocation Commercial real estate - non-owner occupied $ 14,764 $ - $ - $ 14,764 $ 2,652 Commercial real estate - owner occupied 4,415 - - 4,415 846 Total commercial real estate 19,179 - - 19,179 3,498 Commercial and industrial - term 39 2,207 - 2,246 1,205 Commercial and industrial - lines of credit 422 2,821 - 3,243 761 Total commercial and industrial 461 5,028 - 5,489 1,966 Residential real estate - owner occupied 2,199 - - 2,199 222 Residential real estate - non-owner occupied 415 - - 415 116 Total residential real estate 2,614 - - 2,614 338 Construction and land development - - - - - Home equity lines of credit 205 - - 205 - Consumer - - 219 219 20 Leases - - - - - Credit cards - - - - - Total collateral dependent loans $ 22,459 $ 5,028 $ 219 $ 27,706 $ 5,822 |
Financing Receivable, Nonaccrual [Table Text Block] | Non-accrual Loans Past Due 90-Days- (in thousands) With No Total or-More and Still September 30, 2023 Recorded ACL Non-accrual Accruing Interest Commercial real estate - non-owner occupied $ — $ 7,162 $ — Commercial real estate - owner occupied — 1,109 — Total commercial real estate — 8,271 — Commercial and industrial - term 3,737 5,229 — Commercial and industrial - PPP — — — Commercial and industrial - lines of credit — 58 — Total commercial and industrial 3,737 5,287 — Residential real estate - owner occupied 237 2,709 — Residential real estate - non-owner occupied — 378 — Total residential real estate 237 3,087 — Construction and land development — — — Home equity lines of credit — 304 — Consumer — 266 — Leases — — — Credit cards — 12 1 Total $ 3,974 $ 17,227 $ 1 Non-accrual Loans Past Due 90-Days- (in thousands) With No Total Troubled Debt or-More and Still December 31, 2022 Recorded ACL Non-accrual Restructurings (1) Accruing Interest Commercial real estate - non-owner occupied $ — $ 7,707 $ — $ 78 Commercial real estate - owner occupied 1,370 2,525 — — Total commercial real estate 1,370 10,232 — 78 Commercial and industrial - term 403 1,182 — 259 Commercial and industrial - PPP — 21 — 28 Commercial and industrial - lines of credit 273 348 — 300 Total commercial and industrial 676 1,551 — 587 Residential real estate - owner occupied 249 1,801 — — Residential real estate - non-owner occupied — 219 — 220 Total residential real estate 249 2,020 — 220 Construction and land development — — — — Home equity lines of credit — 205 — — Consumer — 234 — — Leases — — — — Credit cards — — — 7 Total $ 2,295 $ 14,242 $ — $ 892 |
Financing Receivable, Past Due [Table Text Block] | (in thousands) 30-59 days 60-89 days 90 or more Total Past Total September 30, 2023 Current Past Due Past Due days Past Due Due Loans Loans Commercial real estate - non-owner occupied $ 1,504,918 $ 114 $ 3,235 $ 348 $ 3,697 $ 1,508,615 Commercial real estate - owner occupied 943,521 1,370 — 231 1,601 945,122 Total commercial real estate 2,448,439 1,484 3,235 579 5,298 2,453,737 Commercial and industrial - term 824,236 456 803 706 1,965 826,201 Commercial and industrial - term - PPP 4,827 — — — — 4,827 Commercial and industrial - lines of credit 419,734 207 — 58 265 419,999 Total commercial and industrial 1,248,797 663 803 764 2,230 1,251,027 Residential real estate - owner occupied 689,433 4,618 709 1,402 6,729 696,162 Residential real estate - non-owner occupied 349,772 377 — 237 614 350,386 Total residential real estate 1,039,205 4,995 709 1,639 7,343 1,046,548 Construction and land development 480,059 61 — — 61 480,120 Home equity lines of credit 202,697 183 11 293 487 203,184 Consumer 143,019 348 136 200 684 143,703 Leases 14,710 — — — — 14,710 Credit cards 24,049 3 2 1 6 24,055 Total $ 5,600,975 $ 7,737 $ 4,896 $ 3,476 $ 16,109 $ 5,617,084 (in thousands) 30-59 days 60-89 days 90 or more Total Past Total December 31, 2022 Current Past Due Past Due days Past Due Due Loans Loans Commercial real estate - non-owner occupied $ 1,393,016 $ 3,404 $ 460 $ 466 $ 4,330 $ 1,397,346 Commercial real estate - owner occupied 831,731 225 2,592 81 2,898 834,629 Total commercial real estate 2,224,747 3,629 3,052 547 7,228 2,231,975 Commercial and industrial - term 763,793 157 292 921 1,370 765,163 Commercial and industrial - term - PPP 17,719 748 77 49 874 18,593 Commercial and industrial - lines of credit 464,494 389 300 630 1,319 465,813 Total commercial and industrial 1,246,006 1,294 669 1,600 3,563 1,249,569 Residential real estate - owner occupied 587,830 1,613 974 1,098 3,685 591,515 Residential real estate - non-owner occupied 312,249 373 331 295 999 313,248 Total residential real estate 900,079 1,986 1,305 1,393 4,684 904,763 Construction and land development 445,618 — 72 — 72 445,690 Home equity lines of credit 200,036 566 40 83 689 200,725 Consumer 138,846 342 85 188 615 139,461 Leases 13,322 — — — — 13,322 Credit cards 20,401 3 2 7 12 20,413 Total $ 5,189,055 $ 7,820 $ 5,225 $ 3,818 $ 16,863 $ 5,205,918 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized September 30, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Commercial real estate - non-owner occupied: Risk rating Pass $ 255,865 $ 354,634 $ 338,426 $ 222,111 $ 122,851 $ 153,093 $ 22,016 $ 1,468,996 OAEM 3,287 - 2,917 - 3,373 4,098 - 13,675 Substandard - 1,383 1,003 3,628 12,424 247 97 18,782 Substandard non-performing 6,080 299 - - 76 707 - 7,162 Doubtful - - - - - - - - Total Commercial real estate non-owner occupied $ 265,232 $ 356,316 $ 342,346 $ 225,739 $ 138,724 $ 158,145 $ 22,113 $ 1,508,615 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - owner occupied: Risk rating Pass $ 127,016 $ 181,373 $ 203,605 $ 189,483 $ 96,127 $ 113,057 $ 15,814 $ 926,475 OAEM 3,571 2,002 602 5,192 79 771 - 12,217 Substandard 266 4,286 - - 392 377 - 5,321 Substandard non-performing - 230 808 71 - - - 1,109 Doubtful - - - - - - - - Total Commercial real estate owner occupied $ 130,853 $ 187,891 $ 205,015 $ 194,746 $ 96,598 $ 114,205 $ 15,814 $ 945,122 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial - term: Risk rating Pass $ 192,704 $ 322,039 $ 180,682 $ 62,307 $ 27,539 $ 30,438 $ - $ 815,709 OAEM - 855 2,625 - 167 164 - 3,811 Substandard 922 85 45 100 - 300 - 1,452 Substandard non-performing 3,848 774 44 341 222 - - 5,229 Doubtful - - - - - - - - Total Commercial and industrial - term $ 197,474 $ 323,753 $ 183,396 $ 62,748 $ 27,928 $ 30,902 $ - $ 826,201 Current period gross charge offs $ (1,274 ) $ (621 ) $ (26 ) $ (57 ) $ - $ (28 ) $ - $ (2,006 ) Commercial and industrial - PPP Risk rating Pass $ - $ - $ 2,753 $ 2,074 $ - $ - $ - $ 4,827 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Commercial and industrial - PPP $ - $ - $ 2,753 $ 2,074 $ - $ - $ - $ 4,827 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized September 30, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Commercial and industrial - lines of credit Risk rating Pass $ 34,187 $ 29,544 $ 3,413 $ 360 $ 9,143 $ 2,053 $ 323,574 $ 402,274 OAEM - - - 829 - - 7,588 8,417 Substandard - - - - 25 - 9,225 9,250 Substandard non-performing - - - - - - 58 58 Doubtful - - - - - - - - Total Commercial and industrial - lines of credit $ 34,187 $ 29,544 $ 3,413 $ 1,189 $ 9,168 $ 2,053 $ 340,445 $ 419,999 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Residential real estate - owner occupied Risk rating Pass $ 148,984 $ 181,101 $ 179,320 $ 88,093 $ 23,378 $ 72,112 $ - $ 692,988 OAEM - - 91 - - - - 91 Substandard - 16 - - - 358 - 374 Substandard non-performing 178 675 162 254 52 1,388 - 2,709 Doubtful - - - - - - - - Total Residential real estate - owner occupied $ 149,162 $ 181,792 $ 179,573 $ 88,347 $ 23,430 $ 73,858 $ - $ 696,162 Current period gross charge offs $ - $ - $ - $ - $ - $ (43 ) $ - $ (43 ) Residential real estate - non-owner occupied Risk rating Pass $ 65,058 $ 87,911 $ 80,228 $ 51,062 $ 31,771 $ 33,108 $ - $ 349,138 OAEM - 10 - - 262 280 - 552 Substandard - - - - - 318 - 318 Substandard non-performing - 237 20 - 46 75 - 378 Doubtful - - - - - - - - Total Residential real estate - non-owner occupied $ 65,058 $ 88,158 $ 80,248 $ 51,062 $ 32,079 $ 33,781 $ - $ 350,386 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Construction and land development Risk rating Pass $ 83,239 $ 246,335 $ 73,479 $ 49,275 $ 489 $ 3,837 $ 15,996 $ 472,650 OAEM - - - - - - 999 999 Substandard 4,175 2,296 - - - - - 6,471 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Construction and land development $ 87,414 $ 248,631 $ 73,479 $ 49,275 $ 489 $ 3,837 $ 16,995 $ 480,120 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity lines of credit Risk rating Pass $ - $ - $ - $ - $ - $ - $ 202,842 $ 202,842 OAEM - - - - - - - - Substandard - - - - - - 38 38 Substandard non-performing - - - - - - 304 304 Doubtful - - - - - - - - Total Home equity lines of credit $ - $ - $ - $ - $ - $ - $ 203,184 $ 203,184 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (12 ) $ (12 ) (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized September 30, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Consumer Risk rating Pass $ 25,219 $ 19,908 $ 11,791 $ 3,355 $ 2,477 $ 2,073 $ 78,614 $ 143,437 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - 110 80 25 13 26 12 266 Doubtful - - - - - - - - Total Consumer $ 25,219 $ 20,018 $ 11,871 $ 3,380 $ 2,490 $ 2,099 $ 78,626 $ 143,703 Current period gross charge offs $ (477 ) $ (18 ) $ (23 ) $ (40 ) $ (40 ) $ (27 ) $ (14 ) $ (639 ) Leases Risk rating Pass $ 3,688 $ 3,360 $ 1,937 $ 307 $ 315 $ 5,103 $ - $ 14,710 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Leases $ 3,688 $ 3,360 $ 1,937 $ 307 $ 315 $ 5,103 $ - $ 14,710 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Credit cards Risk rating Pass $ - $ - $ - $ - $ - $ - $ 24,043 $ 24,043 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - 12 12 Doubtful - - - - - - - - Total Credit cards $ - $ - $ - $ - $ - $ - $ 24,055 $ 24,055 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (105 ) $ (105 ) Total loans Risk rating Pass $ 935,960 $ 1,426,205 $ 1,075,634 $ 668,427 $ 314,090 $ 414,874 $ 682,899 $ 5,518,089 OAEM 6,858 2,867 6,235 6,021 3,881 5,313 8,587 39,762 Substandard 5,363 8,066 1,048 3,728 12,841 1,600 9,360 42,006 Substandard non-performing 10,106 2,325 1,114 691 409 2,196 386 17,227 Doubtful - - - - - - - - Total Loans $ 958,287 $ 1,439,463 $ 1,084,031 $ 678,867 $ 331,221 $ 423,983 $ 701,232 $ 5,617,084 Current period gross charge offs $ (1,751 ) $ (639 ) $ (49 ) $ (97 ) $ (40 ) $ (98 ) $ (131 ) $ (2,805 ) (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized December 31, 2022 2022 2021 2020 2019 2018 Prior cost basis Total Commercial real estate - non-owner occupied: Risk rating Pass $ 338,460 $ 380,612 $ 264,833 $ 128,407 $ 76,359 $ 139,095 $ 24,875 $ 1,352,641 OAEM - 2,006 - 3,534 - 5,414 - 10,954 Substandard 1,381 1,012 3,744 19,574 - 233 100 26,044 Substandard non-performing - - - - - 7,707 - 7,707 Doubtful - - - - - - - - Total Commercial real estate non-owner occupied $ 339,841 $ 383,630 $ 268,577 $ 151,515 $ 76,359 $ 152,449 $ 24,975 $ 1,397,346 Commercial real estate - owner occupied: Risk rating Pass $ 165,711 $ 202,599 $ 194,052 $ 104,148 $ 60,899 $ 74,356 $ 13,062 $ 814,827 OAEM 2,895 1,777 4,540 1,891 676 216 510 12,505 Substandard - 1,152 - 1,623 1,928 69 - 4,772 Substandard non-performing 1,533 911 - - - 81 - 2,525 Doubtful - - - - - - - - Total Commercial real estate owner occupied $ 170,139 $ 206,439 $ 198,592 $ 107,662 $ 63,503 $ 74,722 $ 13,572 $ 834,629 Commercial and industrial - term: Risk rating Pass $ 357,470 $ 210,906 $ 90,063 $ 39,068 $ 29,901 $ 27,354 $ - $ 754,762 OAEM 3,835 2,935 - 303 1,426 - - 8,499 Substandard 178 - - 201 - 341 - 720 Substandard non-performing 539 39 486 101 17 - - 1,182 Doubtful - - - - - - - - Total Commercial and industrial - term $ 362,022 $ 213,880 $ 90,549 $ 39,673 $ 31,344 $ 27,695 $ - $ 765,163 Commercial and industrial - PPP Risk rating Pass $ - $ 14,212 $ 4,047 $ - $ - $ - $ - $ 18,259 OAEM - - 313 - - - - 313 Substandard - - - - - - - - Substandard non-performing - - 21 - - - - 21 Doubtful - - - - - - - - Total Commercial and industrial - PPP $ - $ 14,212 $ 4,381 $ - $ - $ - $ - $ 18,593 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized December 31, 2022 2022 2021 2020 2019 2018 Prior cost basis Total Commercial and industrial - lines of credit Risk rating Pass $ 54,948 $ 13,999 $ 991 $ 9,179 $ 1,188 $ 1,033 $ 367,688 $ 449,026 OAEM - - - - - 366 12,491 12,857 Substandard - - 905 1,915 - - 762 3,582 Substandard non-performing - - - 273 - - 75 348 Doubtful - - - - - - - - Total Commercial and industrial - lines of credit $ 54,948 $ 13,999 $ 1,896 $ 11,367 $ 1,188 $ 1,399 $ 381,016 $ 465,813 Residential real estate - owner occupied Risk rating Pass $ 188,765 $ 189,007 $ 96,818 $ 28,316 $ 15,281 $ 70,556 $ - $ 588,743 OAEM 360 96 - 70 - - - 526 Substandard 18 - 10 - 140 277 - 445 Substandard non-performing 65 191 70 292 122 1,061 - 1,801 Doubtful - - - - - - - - Total Residential real estate - owner occupied $ 189,208 $ 189,294 $ 96,898 $ 28,678 $ 15,543 $ 71,894 $ - $ 591,515 Residential real estate - non-owner occupied Risk rating Pass $ 97,313 $ 83,458 $ 55,787 $ 34,304 $ 19,300 $ 21,720 $ - $ 311,882 OAEM 15 - 115 271 124 290 - 815 Substandard - - - - - 332 - 332 Substandard non-performing 86 21 - - - 112 - 219 Doubtful - - - - - - - - Total Residential real estate - non-owner occupied $ 97,414 $ 83,479 $ 55,902 $ 34,575 $ 19,424 $ 22,454 $ - $ 313,248 Construction and land development Risk rating Pass $ 257,559 $ 99,204 $ 45,427 $ 580 $ 5,959 $ 1,123 $ 30,378 $ 440,230 OAEM - - - - - - 999 999 Substandard 4,461 - - - - - - 4,461 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Construction and land development $ 262,020 $ 99,204 $ 45,427 $ 580 $ 5,959 $ 1,123 $ 31,377 $ 445,690 Home equity lines of credit Risk rating Pass $ - $ - $ - $ - $ - $ - $ 200,481 $ 200,481 OAEM - - - - - - - - Substandard - - - - - - 39 39 Substandard non-performing - - - - - - 205 205 Doubtful - - - - - - - - Total Home equity lines of credit $ - $ - $ - $ - $ - $ - $ 200,725 $ 200,725 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving loans amortized December 31, 2022 2022 2021 2020 2019 2018 Prior cost basis Total Consumer Risk rating Pass $ 27,308 $ 18,396 $ 5,536 $ 5,450 $ 2,270 $ 1,621 $ 78,646 $ 139,227 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing 21 56 40 62 9 31 15 234 Doubtful - - - - - - - - Total Consumer $ 27,329 $ 18,452 $ 5,576 $ 5,512 $ 2,279 $ 1,652 $ 78,661 $ 139,461 Leases Risk rating Pass $ 4,643 $ 4,344 $ 2,589 $ 535 $ 576 $ 635 $ - $ 13,322 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Leases $ 4,643 $ 4,344 $ 2,589 $ 535 $ 576 $ 635 $ - $ 13,322 Credit cards Risk rating Pass $ - $ - $ - $ - $ - $ - $ 20,413 $ 20,413 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Credit cards $ - $ - $ - $ - $ - $ - $ 20,413 $ 20,413 Total loans Risk rating Pass $ 1,492,177 $ 1,216,737 $ 760,143 $ 349,987 $ 211,733 $ 337,493 $ 735,543 $ 5,103,813 OAEM 7,105 6,814 4,968 6,069 2,226 6,286 14,000 47,468 Substandard 6,038 2,164 4,659 23,313 2,068 1,252 901 40,395 Substandard non-performing 2,244 1,218 617 728 148 8,992 295 14,242 Doubtful - - - - - - - - Total Loans $ 1,507,564 $ 1,226,933 $ 770,387 $ 380,097 $ 216,175 $ 354,023 $ 750,739 $ 5,205,918 |
Financinng Receivable, Schedule of Payment Activity [Table Text Block] | September 30, December 31, (in thousands) 2023 2022 Credit cards Performing $ 24,043 $ 20,413 Non-performing 12 — Total credit cards $ 24,055 $ 20,413 |
Financing Receivable, Modified [Table Text Block] | September 30, 2022 Specific Additional reserve commitment (in thousands) Balance allocation to lend Commercial real estate - owner occupied $ 902 $ 202 $ — Commercial & industrial - term — — — Total TDRs $ 902 $ 202 $ — |
Note 4 - Goodwill (Tables)
Note 4 - Goodwill (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | September 30, December 31, (in thousands) 2023 2022 Commonwealth Bancshares (2022) $ 58,244 $ 58,244 Kentucky Bancshares (2021) 123,317 123,317 King Southern Bancorp (2019) 11,831 11,831 Austin State Bank (1996) 682 682 Total $ 194,074 $ 194,074 Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance at beginning of period $ 194,074 $ 202,524 $ 194,074 $ 135,830 Goodwill recorded from acquisitions — — — 66,694 Provisional period adjustments — — — — Disposition of LFA — — — — Impairment — — — — Balance at end of period $ 194,074 $ 202,524 $ 194,074 $ 202,524 |
Note 5 - Core Deposit and Cus_2
Note 5 - Core Deposit and Customer List Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance at beginning of period $ 13,442 $ 16,870 $ 14,958 $ 5,596 Core deposit intangible acquired — — — 12,724 Amortization (749 ) (956 ) (2,265 ) (2,406 ) Balance at end of period $ 12,693 $ 15,914 $ 12,693 $ 15,914 Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance at beginning of period $ 9,196 $ 13,487 $ 10,032 $ - Customer list intangibles acquired — — — 14,360 Disposition of LFA — — — — Amortization (418 ) (654 ) (1,254 ) (1,527 ) Balance at end of period $ 8,778 $ 12,833 $ 8,778 $ 12,833 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (in thousands) CDI CLI Remainder of 2023 $ 750 $ 418 2024 2,686 1,520 2025 2,375 1,368 2026 2,063 1,216 2027 1,752 1,064 2028 1,339 912 2029 888 760 2030 576 608 2031 264 456 2032 - 304 2033 - 152 Total future expense $ 12,693 $ 8,778 |
Note 6 - Other Assets (Tables)
Note 6 - Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | September 30, December 31, (in thousands) 2023 2022 Cash surrender value of life insurance other than BOLI $ 16,575 $ 15,496 Net deferred tax asset 59,110 54,145 Investments in tax credit partnerships 117,204 13,969 Swap assets 17,590 10,727 Prepaid assets 4,224 5,721 Trust fees receivable 3,781 3,354 Mortgage servicing rights 13,558 15,219 Other real estate owned 427 677 Other 14,200 15,680 Total other assets $ 246,669 $ 134,988 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Current income tax expense: Federal $ 7,129 $ 9,231 $ 20,409 $ 12,838 State 1,859 1,261 4,223 1,875 Total current income tax expense 8,988 10,492 24,632 14,713 Deferred income tax expense: Federal (1,087 ) (1,922 ) (1,311 ) 1,542 State (259 ) 454 428 1,761 Total deferred income tax expense (1,346 ) (1,468 ) (883 ) 3,303 Change in valuation allowance - - - - Total income tax expense $ 7,642 $ 9,024 $ 23,749 $ 18,016 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 3.3 3.6 3.4 3.5 Excess tax benefit from stock-based compensation arrangements 0.1 - (0.3 ) (1.3 ) Change in cash surrender value of life insurance (0.1 ) - (0.5 ) 0.6 Tax credits (0.7 ) (0.5 ) (0.5 ) (0.6 ) Tax exempt interest income (0.5 ) (0.5 ) (0.5 ) (0.7 ) Non-deductible merger expenses - - - 0.2 Insurance captive (0.2 ) (0.3 ) (0.3 ) (0.3 ) Other, net (0.9 ) 0.7 (0.2 ) (0.3 ) Effective tax rate 22.0 % 24.0 % 22.1 % 22.1 % |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | (in thousands) September 30, 2023 December 31, 2022 Non-interest bearing demand deposits $ 1,714,918 $ 1,950,198 Interest bearing deposits: Interest bearing demand 2,283,373 2,308,960 Savings 455,515 535,903 Money market 1,085,844 1,124,100 Time deposits of $250 thousand or more 229,943 97,638 Other time deposits 633,214 374,453 Total time deposits (1) 863,157 472,091 Total interest bearing deposits 4,687,889 4,441,054 Total deposits $ 6,402,807 $ 6,391,252 |
Note 9 - Securities Sold Unde_2
Note 9 - Securities Sold Under Agreements to Repurchase (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Short-Term Debt [Table Text Block] | (dollars in thousands) September 30, 2023 December 31, 2022 Outstanding balance at end of period $ 113,894 $ 133,342 Weighted average interest rate at end of period 1.76 % 1.64 % Three months ended Nine months ended September 30, September 30, (dollars in thousands) 2023 2022 2023 2022 Average outstanding balance during the period $ 127,063 $ 139,749 $ 120,740 $ 123,845 Average interest rate during the period 1.86 % 0.50 % 1.58 % 0.27 % Maximum outstanding at any month end during the period $ 127,931 $ 139,825 $ 138,347 $ 149,179 |
Note 10 - Subordinated Debent_2
Note 10 - Subordinated Debentures (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | (dollars in thousands) Face Value Carrying Value Origination Date Maturity Date Interest Rate Commonwealth Statutory Trust III $ 3,093 $ 3,074 12/19/2003 1/7/2034 SOFR + 2.85% Commonwealth Statutory Trust IV 12,372 12,296 12/15/2005 12/30/2035 SOFR + 1.35% Commonwealth Statutory Trust V 11,341 11,271 6/28/2007 9/15/2037 SOFR + 1.40% Total $ 26,806 $ 26,641 |
Note 11 - FHLB Advances and O_2
Note 11 - FHLB Advances and Other Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Maturities and Average Effective Interest Rates of Federal Home Loan Bank Advances Disclosure [Table Text Block] | (dollars in thousands) September 30, 2023 December 31, 2022 Outstanding balance at end of period $ 350,000 $ 50,000 Weighted average interest rate at end of period 5.51 % 4.37 % Three months ended Nine months ended September 30, September 30, (dollars in thousands) 2023 2022 2023 2022 Average outstanding balance during the period $ 401,630 $ - $ 305,220 $ - Average interest rate during the period 4.86 % - % 4.65 % - % Maximum outstanding at any month end during the period $ 425,000 $ - $ 425,000 $ - |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Off Balance Sheet Commitments to Extend Credit [Table Text Block] | (in thousands) September 30, 2023 December 31, 2022 Commercial and industrial $ 906,111 $ 784,429 Construction and land development 531,839 449,028 Home equity 375,424 358,610 Credit cards 81,774 64,231 Overdrafts 55,252 57,193 Letters of credit 32,883 34,704 Other 94,516 93,419 Future loan commitments 239,236 221,973 Total off balance sheet commitments to extend credit $ 2,317,035 $ 2,063,587 |
Note 13 - Assets and Liabilit_2
Note 13 - Assets and Liabilities Measured and Reported at Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using: Total September 30, 2023 (in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Available for sale debt securities: U.S. Treasury and other U.S. Government obligations $ 118,009 $ — $ — $ 118,009 Government sponsored enterprise obligations — 109,233 — 109,233 Mortgage backed securities - government agencies — 672,666 — 672,666 Obligations of states and political subdivisions — 116,891 — 116,891 Other — 3,449 — 3,449 Total available for sale debt securities 118,009 902,239 — 1,020,248 Mortgage loans held for sale — 6,535 — 6,535 Rate lock loan commitments — 202 — 202 Mandatory forward contracts — 110 — 110 Interest rate swap assets — 17,590 — 17,590 Total assets $ 118,009 $ 926,676 $ — $ 1,044,685 Liabilities: Interest rate swap liabilities $ — $ 11,929 $ — $ 11,929 Fair Value Measurements Using: Total December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Available for sale debt securities: U.S. Treasury and other U.S. Government obligations $ 115,039 $ — $ — $ 115,039 Government sponsored enterprise obligations — 143,626 — 143,626 Mortgage backed securities - government agencies — 752,738 — 752,738 Obligations of states and political subdivisions — 127,599 — 127,599 Other — 5,615 — 5,615 Total available for sale debt securities 115,039 1,029,578 — 1,144,617 Mortgage loans held for sale — 2,606 — 2,606 Rate lock loan commitments — 137 — 137 Mandatory forward contracts — 47 — 47 Interest rate swaps — 10,727 — 10,727 Total assets $ 115,039 $ 1,043,095 $ — $ 1,158,134 Liabilities: Interest rate swaps $ — $ 10,737 $ — $ 10,737 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Losses recorded Three months Nine months Fair Value Measurements Using: Total ended ended September 30, 2023 (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2023 September 30, 2023 Collateral dependent loans $ — $ — $ 12,141 $ 12,141 $ 1,377 $ 1,377 Other real estate owned — — 427 427 250 250 Losses recorded Three months Nine months Fair Value Measurements Using: Total ended ended December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2022 September 30, 2022 Collateral dependent loans $ — $ — $ 20,637 $ 20,637 $ 377 $ 377 Other real estate owned — — 677 677 — — |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | September 30, 2023 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Collateral dependent loans $ 12,141 Appraisal Appraisal discounts 21.2 % Other real estate owned 427 Appraisal Appraisal discounts 78.3 December 31, 2022 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Collateral dependend loans $ 20,637 Appraisal Appraisal discounts 23.3 % Other real estate owned 677 Appraisal Appraisal discounts 65.6 |
Note 14 - Disclosure of Finan_2
Note 14 - Disclosure of Financial Instruments Not Reported at Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Fair Value Measurements Using: September 30, 2023 (in thousands) amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 193,037 $ 193,037 $ 193,037 $ — $ — HTM debt securities 445,205 397,418 — 397,418 — Federal Home Loan Bank stock 26,241 26,241 — 26,241 — Loans, net 5,539,009 5,263,127 — — 5,263,127 Accrued interest receivable 23,777 23,777 23,777 — — Liabilities Non-interest bearing deposits $ 1,714,918 $ 1,714,918 $ 1,714,918 $ — $ — Transaction deposits 3,824,732 3,824,732 — 3,824,732 — Time deposits 863,157 852,693 — 852,693 — Securities sold under agreement to repurchase 113,894 113,894 — 113,894 — Federal funds purchased 11,518 11,518 — 11,518 — Subordinated debentures 26,641 25,988 — 25,988 — FHLB advances 350,000 345,101 — 345,101 — Accrued interest payable 1,836 1,836 1,836 — — Carrying Fair Value Measurements Using: December 31, 2022 (in thousands) amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 167,367 $ 167,367 $ 167,367 $ — $ — HTM debt securities 473,217 431,833 — 431,833 — Federal Home Loan Bank stock 10,928 10,928 — 10,928 — Loans, net 5,132,387 4,914,770 — — 4,914,770 Accrued interest receivable 22,157 22,157 22,157 — — Liabilities Non-interest bearing deposits $ 1,950,198 $ 1,950,198 $ 1,950,198 $ — $ — Transaction deposits 3,968,963 3,968,963 — 3,968,963 — Time deposits 472,091 459,467 — 459,467 — Securities sold under agreement to repurchase 133,342 133,342 — 133,342 — Federal funds purchased 8,789 8,789 — 8,789 — Subordinated debentures 26,343 26,460 — 26,460 — FHLB advances 50,000 50,000 — 50,000 — Accrued interest payable 660 660 660 — — |
Note 15 - Mortgage Banking Ac_2
Note 15 - Mortgage Banking Activities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Disclosure of Long-Lived Assets Held-for-Sale [Table Text Block] | Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance, beginning of period: $ 7,069 $ 10,045 $ 2,606 $ 8,614 Origination of mortgage loans held for sale 30,775 31,446 86,100 111,026 Loans held for sale acquired — — — 3,559 Proceeds from the sale of mortgage loans held for sale (31,814 ) (36,427 ) (83,422 ) (118,639 ) Net gain realized on sale of mortgage loans held for sale 505 166 1,251 670 Balance, end of period $ 6,535 $ 5,230 $ 6,535 $ 5,230 |
Interest and Other Income [Table Text Block] | Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Net gain realized on sale of mortgage loans held for sale $ 505 $ 166 $ 1,251 $ 670 Net change in fair value recognized on loans held for sale (81 ) (113 ) (65 ) (70 ) Net change in fair value recognized on rate lock loan commitments (186 ) 134 40 1,324 Net change in fair value recognized on forward contracts 214 101 340 (534 ) Net gain recognized 452 288 1,566 1,390 Net loan servicing income 1,031 1,172 3,338 3,089 Amortization of mortgage servicing rights (822 ) (869 ) (2,345 ) (2,206 ) Change in mortgage servicing rights valuation allowance - - - - Net servicing income recognized 209 303 993 883 Other mortgage banking income 153 112 323 728 Total mortgage banking income $ 814 $ 703 $ 2,882 $ 3,001 |
Changes in Carrying Amount of MSRs [Table Text Block] | Three months ended Nine months ended September 30, September 30, (in thousands) 2023 2022 2023 2022 Balance at beginning of period $ 14,116 $ 16,504 $ 15,219 $ 4,528 MSRs acquired — — — 12,676 Additions for mortgage loans sold 264 269 684 906 Amortization (822 ) (869 ) (2,345 ) (2,206 ) Impairment — — — — Balance at end of period $ 13,558 $ 15,904 $ 13,558 $ 15,904 |
Mortgage Loans Held for Sale and Mortgage Banking Derivatives [Table Text Block] | September 30, 2023 December 31, 2022 (in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in Mortgage loans held for sale: Mortgage loans held for sale, at fair value $ 6,542 $ 6,535 $ 2,548 $ 2,606 Included in other assets: Rate lock loan commitments $ 7,632 $ 202 $ 5,599 $ 137 Mandatory forward contracts 8,038 110 6,581 47 |
Note 16 - Accumulated Other C_2
Note 16 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Net unrealized Net unrealized Minimum gains (losses) gains pension on available for on cash liability (in thousands) sale debt securities flow hedges adjustment Total Three months ended September 30, 2023 Balance, beginning of period $ (109,741 ) $ 2,213 $ 112 $ (107,416 ) Net current period other comprehensive income (loss) (22,586 ) 2,097 - (20,489 ) Balance, end of period $ (132,327 ) $ 4,310 $ 112 $ (127,905 ) Three months ended September 30, 2022 Balance, beginning of period $ (87,054 ) $ - $ (283 ) $ (87,337 ) Net current period other comprehensive loss (40,580 ) - - (40,580 ) Balance, end of period $ (127,634 ) $ - $ (283 ) $ (127,917 ) Net unrealized Net unrealized Minimum gains (losses) gains pension on available for on cash liability (in thousands) sale debt securities flow hedges adjustment Total Nine months ended September 30, 2023 Balance, beginning of period $ (115,648 ) $ - $ 112 $ (115,536 ) Net current period other comprehensive income (loss) (16,679 ) 4,310 - (12,369 ) Balance, end of period $ (132,327 ) $ 4,310 $ 112 $ (127,905 ) Nine months ended September 30, 2022 Balance, beginning of period $ (7,657 ) $ - $ (283 ) $ (7,940 ) Net current period other comprehensive loss (119,977 ) - - (119,977 ) Balance, end of period $ (127,634 ) $ - $ (283 ) $ (127,917 ) |
Note 18 - Net Income Per Share
Note 18 - Net Income Per Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Nine months ended September 30, September 30, (in thousands, except per share data) 2023 2022 2023 2022 Net income available to stockholders $ 27,092 $ 28,455 $ 83,804 $ 63,155 Weighted average shares outstanding - basic 29,223 29,144 29,208 28,509 Dilutive securities 113 260 139 243 Weighted average shares outstanding- diluted 29,336 29,404 29,347 28,752 Net income per share - basic $ 0.93 $ 0.98 $ 2.87 $ 2.22 Net income per share - diluted 0.92 0.97 2.86 2.20 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three months ended Nine months ended (shares in thousands) September 30, September 30, 2023 2022 2023 2022 Antidilutive SARs 94 - 79 - |
Note 19 - Stock-based Compens_2
Note 19 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award Fair Value Assumptions and Methodology [Table Text Block] | Assumptions 2023 2022 Dividend yield 2.24 % 2.38 % Expected volatility 27.20 % 25.43 % Risk free interest rate 3.84 % 1.98 % Expected life (in years) 7.1 7.1 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended September 30, 2023 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 105 $ 399 $ 126 $ 402 $ 1,032 Deferred tax benefit (22 ) (84 ) (26 ) (84 ) (216 ) Total net expense $ 83 $ 315 $ 100 $ 318 $ 816 Three months ended September 30, 2022 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 94 $ 346 $ 80 $ 717 $ 1,237 Deferred tax benefit (20 ) (72 ) (17 ) (150 ) (259 ) Total net expense $ 74 $ 274 $ 63 $ 567 $ 978 Nine months ended September 30, 2023 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 310 $ 1,204 $ 392 $ 1,313 $ 3,219 Deferred tax benefit (65 ) (253 ) (82 ) (276 ) (676 ) Total net expense $ 245 $ 951 $ 310 $ 1,037 $ 2,543 Nine months ended September 30, 2022 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 282 $ 1,028 $ 252 $ 1,723 $ 3,285 Deferred tax benefit (59 ) (216 ) (53 ) (362 ) (690 ) Total net expense $ 223 $ 812 $ 199 $ 1,361 $ 2,595 |
Share-Based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | Stock (in thousands) Appreciation Restricted Restricted Performance Year ended Rights Stock Awards Stock Units Stock Units Total Remainder of 2023 $ 91 $ 398 $ 125 $ 402 $ 1,016 2024 307 1,385 3 908 2,603 2025 248 1,163 — 485 1,896 2026 190 859 — — 1,049 2027 111 504 — — 615 2028 12 42 — — 54 Total estimated future expense $ 959 $ 4,351 $ 128 $ 1,795 $ 7,233 |
Share-Based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block] | Weighted Weighted Weighted average average Aggregate average remaining Exercise exercise intrinsic fair contractual (in thousands, except per share and life data) SARs price price value(1) value life (in years) Outstanding, January 1, 2022 515 $15.24 - $50.71 $ 31.16 $ 16,854 $ 5.08 5.1 Granted 34 47.17 - 74.92 55.45 — 12.07 Exercised (114 ) 15.24 - 40.00 21.55 5,258 3.63 Forfeited — — — — — Outstanding, December 31, 2022 435 $19.37 - $74.92 $ 35.60 $ 12,784 $ 6.02 5.1 Outstanding, January 1, 2023 435 $19.37 - $74.92 $ 35.60 $ 12,784 $ 6.02 5.1 Granted 29 60.76 - 60.76 60.76 — 16.81 Exercised — — — — — Forfeited — — — — — Outstanding, September 30, 2023 464 $19.37 - $74.92 $ 37.17 $ 2,529 $ 6.69 4.7 Vested and exercisable 349 $19.37 - $54.91 $ 32.99 $ 3,743 $ 5.36 3.8 Unvested 115 35.90 - 74.92 49.83 (1,214 ) 10.72 3.5 Outstanding, September 30, 2023 464 $19.37 - $74.92 $ 37.17 $ 2,529 $ 6.69 4.7 Vested in the current year 42 $35.90 - $54.91 $ 41.69 $ (100 ) $ 7.62 |
Schedule of Nonvested Share Activity [Table Text Block] | Grant date weighted (in thousands, except per share data) RSAs average cost Unvested at January 1, 2022 99 $ 41.07 Shares awarded 35 58.47 Restrictions lapsed and shares released (32 ) 40.39 Shares forfeited (6 ) 47.49 Unvested at December 31, 2022 96 $ 47.26 Unvested at January 1, 2023 96 $ 47.26 Shares awarded 38 63.04 Restrictions lapsed and shares released (32 ) 43.87 Shares forfeited (3 ) 53.33 Unvested at September 30, 2023 99 $ 54.17 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Vesting Shares Grant period Fair expected to year in years value be awarded 2021 3 44.44 47,280 2022 3 48.48 36,349 2023 3 54.33 26,804 |
Note 20 - Derivative Financia_2
Note 20 - Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | Fair value (dollars in thousands) Pay fixed September 30, Notional Amount Maturity Date Receive (variable) index swap rate 2023 $ 100,000,000 2/6/2028 USD SOFR 3.27 % $ 4,520 $ 50,000,000 8/6/2026 USD SOFR 4.38 % $ 344 $ 50,000,000 8/6/2028 USD SOFR 3.97 % $ 806 |
Not Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | Receiving Paying September 30, December 31, September 30, December 31, (dollars in thousands) 2023 2022 2023 2022 Notional amount $ 169,054 $ 132,831 $ 169,054 $ 132,831 Weighted average maturity (years) 6.0 7.1 6.0 7.1 Fair value $ 11,920 $ 10,727 $ 11,929 $ 10,737 |
Note 21 - Regulatory Matters (T
Note 21 - Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized September 30, 2023 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 831,296 12.71 % $ 523,065 8.00 % NA NA Bank 805,791 12.37 521,313 8.00 $ 651,641 10.00 % Common equity tier 1 risk-based capital (1) Consolidated 730,410 11.17 294,224 4.50 NA NA Bank 730,905 11.22 293,239 4.50 423,567 6.50 Tier 1 risk-based capital (1) Consolidated 756,410 11.57 392,298 6.00 NA NA Bank 730,905 11.22 390,985 6.00 521,313 8.00 Leverage Consolidated 756,410 9.80 308,622 4.00 NA NA Bank 730,905 9.49 308,176 4.00 385,221 5.00 (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2022 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 762,956 12.54 % $ 486,841 8.00 % NA NA Bank 732,688 12.08 485,314 8.00 $ 606,643 10.00 % Common equity tier 1 risk-based capital (1) Consolidated 672,045 11.04 273,848 4.50 NA NA Bank 667,777 11.01 272,989 4.50 394,318 6.50 Tier 1 risk-based capital (1) Consolidated 698,045 11.47 365,131 6.00 NA NA Bank 667,777 11.01 363,986 6.00 485,314 8.00 Leverage Consolidated 698,045 9.33 299,329 4.00 NA NA Bank 667,777 8.95 298,600 4.00 373,250 5.00 |
Note 22 - Segments (Tables)
Note 22 - Segments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Net interest income $ 61,155 $ 160 $ 61,315 $ 62,270 $ 106 $ 62,376 Provision for credit losses 2,775 — 2,775 4,803 — 4,803 Wealth management and trust services — 10,030 10,030 — 9,152 9,152 All other non-interest income 12,866 — 12,866 15,712 — 15,712 Non-interest expenses 41,788 4,914 46,702 39,370 5,503 44,873 Income before income tax expense 29,458 5,276 34,734 33,809 3,755 37,564 Income tax expense 6,497 1,145 7,642 8,209 815 9,024 Net income 22,961 4,131 27,092 25,600 2,940 28,540 Less net income attributed to NCI — — — 85 — 85 Net income available to stockholders $ 22,961 $ 4,131 $ 27,092 $ 25,515 $ 2,940 $ 28,455 Segment assets $ 7,867,626 $ 35,804 $ 7,903,430 $ 7,522,113 $ 32,097 $ 7,554,210 Nine months ended September 30, 2023 Nine months ended September 30, 2022 (in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Net interest income $ 184,895 $ 421 $ 185,316 $ 167,811 $ 309 $ 168,120 Provision for credit losses 7,750 — 7,750 6,882 — 6,882 Wealth management and trust services — 29,703 29,703 — 26,890 26,890 All other non-interest income 38,100 — 38,100 39,117 — 39,117 Non-interest expenses 121,265 16,551 137,816 129,936 15,909 145,845 Income before income tax expense 93,980 13,573 107,553 70,110 11,290 81,400 Income tax expense 20,804 2,945 23,749 15,566 2,450 18,016 Net income 73,176 10,628 83,804 54,544 8,840 63,384 Less net income attributed to NCI — — — 229 — 229 Net income available to stockholders $ 73,176 $ 10,628 $ 83,804 $ 54,315 $ 8,840 $ 63,155 Segment assets $ 7,867,626 $ 35,804 $ 7,903,430 $ 7,522,113 $ 32,097 $ 7,554,210 |
Note 23 - Revenue From Contra_2
Note 23 - Revenue From Contracts With Customers (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended September 30, 2023 Three months ended September 30, 2022 (in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Wealth management and trust services $ — $ 10,030 $ 10,030 $ — $ 9,152 $ 9,152 Deposit service charges 2,272 — 2,272 2,179 — 2,179 Debit and credit card income 4,870 — 4,870 4,710 — 4,710 Treasury management fees 2,635 — 2,635 2,221 — 2,221 Mortgage banking income (1) 814 — 814 703 — 703 Net investment product sales commissions and fees 791 — 791 892 — 892 Bank owned life insurance (1) 569 — 569 516 — 516 Gain (loss) on sale of premises and equipment (1) 302 — 302 3,074 — 3,074 Other (2) 613 — 613 1,417 — 1,417 Total non-interest income $ 12,866 $ 10,030 $ 22,896 $ 15,712 $ 9,152 $ 24,864 Nine months ended September 30, 2023 Nine months ended September 30, 2022 (Dollars in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Wealth management and trust services $ — $ 29,703 $ 29,703 $ — $ 26,890 $ 26,890 Deposit service charges 6,622 — 6,622 6,103 — 6,103 Debit and credit card income 14,064 — 14,064 13,577 — 13,577 Treasury management fees 7,502 — 7,502 6,312 — 6,312 Mortgage banking income (1) 2,882 — 2,882 3,001 — 3,001 Net investment product sales commissions and fees 2,345 — 2,345 2,230 — 2,230 Bank owned life insurance (1) 1,677 — 1,677 1,052 — 1,052 Gain (loss) on sale of premises and equipment (1) 75 — 75 3,046 — 3,046 Other(2) 2,933 — 2,933 3,796 — 3,796 Total non-interest income $ 38,100 $ 29,703 $ 67,803 $ 39,117 $ 26,890 $ 66,007 |
Note 24 - Leases (Tables)
Note 24 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Detail Regarding Operating Leases of Lessee [Table Text Block] | (dollars in thousands) September 30, 2023 December 31, 2022 Balance Sheet Operating lease right-of-use asset $ 17,720 $ 19,694 Operating lease liability 18,947 21,008 Weighted average remaining lease term (years) 9.3 9.0 Weighted average discount rate 2.70 % 2.57 % Maturities of lease liabilities: One year or less $ 872 $ 3,453 Year two 3,345 3,293 Year three 2,676 2,739 Year four 2,168 2,339 Year five 2,018 2,245 Greater than five years 10,496 9,559 Total lease payments $ 21,575 $ 23,628 Less imputed interest 2,628 2,620 Total $ 18,947 $ 21,008 Three months ended Three months ended (in thousands) September 30, 2023 September 30, 2022 Income Statement Components of lease expense: Operating lease cost $ 815 $ 793 Variable lease cost 96 57 Less sublease income 25 24 Total lease cost $ 886 $ 826 Nine months ended Nine months ended (in thousands) September 30, 2023 September 30, 2022 Income Statement Components of lease expense: Operating lease cost $ 2,492 $ 2,241 Variable lease cost 235 172 Less sublease income 75 72 Total lease cost $ 2,652 $ 2,341 Nine months ended Nine months ended (in thousands) September 30, 2023 September 30, 2022 Cash flow Statement Supplemental cash flow information: Operating cash flows from operating leases $ 3,111 $ 2,746 |
Note 2 - Investment Securitie_2
Note 2 - Investment Securities (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Mar. 07, 2022 USD ($) | |
Debt Securities, Held-to-Maturity, Number of Securities | 0 | ||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Ending Balance | $ 0 | ||||
Debt Securities, Held-to-Maturity, Nonaccrual | 0 | $ 0 | |||
Debt Securities, Available-for-sale, Number of Positions Sold | 3 | ||||
Proceeds from Sale of Debt Securities, Available-for-Sale | $ 2,000,000 | 0 | $ 2,111,000 | ||
Debt Securities, Available-for-Sale, Gain (Loss), Total | $ (92,000) | ||||
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Ending Balance | $ 0 | ||||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 543 | 547 | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Percentage | 99% | 98% | |||
Collateral Pledged [Member] | |||||
Debt Securities, Available-for-Sale, Restricted | $ 688,000,000 | $ 1,100,000,000 | |||
Commonwealth [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | $ 247,000,000 | ||||
Other Assets [Member] | |||||
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss | 4,000,000 | 4,000,000 | |||
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss | $ 1,000,000 | $ 2,000,000 |
Note 2 - Investment Securitie_3
Note 2 - Investment Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities available-for-sale, amortized cost | $ 1,195,721 | $ 1,297,977 |
Securities available-for-sale, unrealized gains | 184 | 349 |
Securities available-for-sale, unrealized losses | (175,657) | (153,709) |
Securities available-for-sale, fair value | 1,020,248 | 1,144,617 |
US Treasury Securities and US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 123,500 | 122,966 |
Securities available-for-sale, unrealized gains | 0 | 0 |
Securities available-for-sale, unrealized losses | (5,491) | (7,927) |
Securities available-for-sale, fair value | 118,009 | 115,039 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 115,862 | 149,773 |
Securities available-for-sale, unrealized gains | 184 | 290 |
Securities available-for-sale, unrealized losses | (6,813) | (6,437) |
Securities available-for-sale, fair value | 109,233 | 143,626 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale, amortized cost | 814,224 | 874,265 |
Securities available-for-sale, unrealized gains | 0 | 58 |
Securities available-for-sale, unrealized losses | (141,558) | (121,585) |
Securities available-for-sale, fair value | 672,666 | 752,738 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 138,279 | 145,016 |
Securities available-for-sale, unrealized gains | 0 | 1 |
Securities available-for-sale, unrealized losses | (21,388) | (17,418) |
Securities available-for-sale, fair value | 116,891 | 127,599 |
Other Debt Obligations [Member] | ||
Securities available-for-sale, amortized cost | 3,856 | 5,957 |
Securities available-for-sale, unrealized gains | 0 | 0 |
Securities available-for-sale, unrealized losses | (407) | (342) |
Securities available-for-sale, fair value | $ 3,449 | $ 5,615 |
Note 2 - Investment Securitie_4
Note 2 - Investment Securities - Held to Maturity Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities held-to-maturity, carrying value | $ 445,205 | $ 473,217 |
Securities held-to-maturity, gains | 0 | 0 |
Securities held-to-maturity, losses | (47,787) | (41,384) |
Securities held-to-maturity, fair value | 397,418 | 431,833 |
US Treasury Securities and US Government Agencies Debt Securities [Member] | ||
Securities held-to-maturity, carrying value | 204,139 | 217,794 |
Securities held-to-maturity, gains | 0 | 0 |
Securities held-to-maturity, losses | (7,645) | (9,166) |
Securities held-to-maturity, fair value | 196,494 | 208,628 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities held-to-maturity, carrying value | 26,972 | 27,507 |
Securities held-to-maturity, gains | 0 | 0 |
Securities held-to-maturity, losses | (3,536) | (2,559) |
Securities held-to-maturity, fair value | 23,436 | 24,948 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities held-to-maturity, carrying value | 214,094 | 227,916 |
Securities held-to-maturity, gains | 0 | 0 |
Securities held-to-maturity, losses | (36,606) | (29,659) |
Securities held-to-maturity, fair value | $ 177,488 | $ 198,257 |
Note 2 - Investment Securitie_5
Note 2 - Investment Securities - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Due within one year, AFS, amortized cost | $ 117,105 | |
Due within one year, AFS, fair value | 112,410 | |
Due within one year, HTM, carrying value | 51,077 | |
Due within one year, HTM, fair value | 50,188 | |
Due after one year but within five years, AFS, amortized cost | 54,505 | |
Due after one year but within five years, AFS, fair value | 50,972 | |
Due after one year but within five years, HTM, carrying value | 153,800 | |
Due after one year but within five years, HTM, fair value | 147,004 | |
Due after five years but within 10 years, AFS, amortized cost | 79,708 | |
Due after five years but within 10 years, AFS, fair value | 66,296 | |
Due after five years but within 10 years, HTM, carrying value | 25,660 | |
Due after five years but within 10 years, HTM, fair value | 22,176 | |
Due after 10 years, AFS, amortized cost | 130,179 | |
Due after 10 years, AFS, fair value | 117,904 | |
Due after 10 years, HTM, carrying value | 574 | |
Due after 10 years, HTM, fair value | 562 | |
Mortgage-backed securities – government agencies, AFS, amortized cost | 814,224 | |
Mortgage-backed securities – government agencies, AFS, fair value | 672,666 | |
Mortgage backed securities - government agencies, HTM, carrying value | 214,094 | |
Mortgage backed securities - government agencies, HTM, fair value | 177,488 | |
Total available for sale debt securities, amortized cost | 1,195,721 | $ 1,297,977 |
Total available for sale debt securities, fair value | 1,020,248 | 1,144,617 |
Total held to maturity debt securities, carrying value | 445,205 | |
Total held to maturity debt securities, fair value | $ 397,418 | $ 431,833 |
Note 2 - Investment Securitie_6
Note 2 - Investment Securities - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities available-for-sale, less than 12 months, fair value | $ 52,893 | $ 352,103 |
Securities available-for-sale, less than 12 months, unrealized losses | (2,604) | (18,700) |
Securities available-for-sale, 12 months or more, fair value | 951,150 | 760,051 |
Securities available-for-sale, 12 months or more, unrealized losses | (173,053) | (135,009) |
Securities available-for-sale, fair value | 1,004,043 | 1,112,154 |
Securities available-for-sale, unrealized losses | (175,657) | (153,709) |
Securities HTM, less than 12 months, fair value | 1,415 | 431,833 |
Securities HTM, less than 12 months, unrealized losses | (4) | (41,384) |
Securities HTM, 12 months or more, fair value | 395,954 | 0 |
Securities HTM, 12 months or more, unrealized losses | (47,783) | 0 |
Securities HTM, fair value | 397,369 | 431,833 |
Securities HTM, unrealized losses | (47,787) | (41,384) |
US Treasury Securities and US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 0 | 3,025 |
Securities available-for-sale, less than 12 months, unrealized losses | 0 | (57) |
Securities available-for-sale, 12 months or more, fair value | 118,009 | 111,966 |
Securities available-for-sale, 12 months or more, unrealized losses | (5,491) | (7,870) |
Securities available-for-sale, fair value | 118,009 | 114,991 |
Securities available-for-sale, unrealized losses | (5,491) | (7,927) |
Securities HTM, less than 12 months, fair value | 0 | 208,628 |
Securities HTM, less than 12 months, unrealized losses | 0 | (9,166) |
Securities HTM, 12 months or more, fair value | 196,494 | 0 |
Securities HTM, 12 months or more, unrealized losses | (7,645) | 0 |
Securities HTM, fair value | 196,494 | 208,628 |
Securities HTM, unrealized losses | (7,645) | (9,166) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 10,262 | 99,785 |
Securities available-for-sale, less than 12 months, unrealized losses | (42) | (3,553) |
Securities available-for-sale, 12 months or more, fair value | 83,081 | 22,484 |
Securities available-for-sale, 12 months or more, unrealized losses | (6,771) | (2,884) |
Securities available-for-sale, fair value | 93,343 | 122,269 |
Securities available-for-sale, unrealized losses | (6,813) | (6,437) |
Securities HTM, less than 12 months, fair value | 1,415 | 24,948 |
Securities HTM, less than 12 months, unrealized losses | (4) | (2,559) |
Securities HTM, 12 months or more, fair value | 22,009 | 0 |
Securities HTM, 12 months or more, unrealized losses | (3,532) | 0 |
Securities HTM, fair value | 23,424 | 24,948 |
Securities HTM, unrealized losses | (3,536) | (2,559) |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 29,149 | 180,263 |
Securities available-for-sale, less than 12 months, unrealized losses | (1,633) | (11,114) |
Securities available-for-sale, 12 months or more, fair value | 643,517 | 567,988 |
Securities available-for-sale, 12 months or more, unrealized losses | (139,925) | (110,471) |
Securities available-for-sale, fair value | 672,666 | 748,251 |
Securities available-for-sale, unrealized losses | (141,558) | (121,585) |
Securities HTM, less than 12 months, fair value | 0 | 198,257 |
Securities HTM, less than 12 months, unrealized losses | 0 | (29,659) |
Securities HTM, 12 months or more, fair value | 177,451 | 0 |
Securities HTM, 12 months or more, unrealized losses | (36,606) | 0 |
Securities HTM, fair value | 177,451 | 198,257 |
Securities HTM, unrealized losses | (36,606) | (29,659) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 13,482 | 64,165 |
Securities available-for-sale, less than 12 months, unrealized losses | (929) | (3,763) |
Securities available-for-sale, 12 months or more, fair value | 103,094 | 56,864 |
Securities available-for-sale, 12 months or more, unrealized losses | (20,459) | (13,655) |
Securities available-for-sale, fair value | 116,576 | 121,029 |
Securities available-for-sale, unrealized losses | (21,388) | (17,418) |
Other Debt Obligations [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 0 | 4,865 |
Securities available-for-sale, less than 12 months, unrealized losses | 0 | (213) |
Securities available-for-sale, 12 months or more, fair value | 3,449 | 749 |
Securities available-for-sale, 12 months or more, unrealized losses | (407) | (129) |
Securities available-for-sale, fair value | 3,449 | 5,614 |
Securities available-for-sale, unrealized losses | $ (407) | $ (342) |
Note 3 - Loans and Allowance _3
Note 3 - Loans and Allowance for Credit Losses on Loans (Details Textual) Pure in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | ||
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | $ 19,000,000 | $ 19,000,000 | $ 17,000,000 | |||
Financing Receivable, before Allowance for Credit Loss | [1] | 5,617,084,000 | 5,617,084,000 | 5,205,918,000 | ||
Loans and Leases Receivable, Related Parties | 77,000,000 | 77,000,000 | 79,000,000 | |||
Financing Receivable, after Allowance for Credit Loss | 5,539,009,000 | 5,539,009,000 | 5,132,387,000 | |||
Financing Receivable, Purchased with Credit Deterioration, Interest Income | 1,100,000 | $ 1,100,000 | 3,300,000 | $ 4,000,000 | ||
Financing Receivable, Nonaccrual, Interest Income | 0 | $ 0 | 0 | $ 0 | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 483,000 | $ 483,000 | 317,000 | |||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||
Commonwealth [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Financing Receivable, after Allowance for Credit Loss | $ 55,000,000 | $ 55,000,000 | ||||
Asset Pledged as Collateral [Member] | Federal Home Loan Bank Advances [Member] | ||||||
Financing Receivable, before Allowance for Credit Loss | $ 3,110,000,000 | $ 3,110,000,000 | $ 2,770,000,000 | |||
[1]Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. |
Note 3 - Loans and Allowance _4
Note 3 - Loans and Allowance for Credit Losses on Loans - Loans by Loan Portfolio Class (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Loans | [1] | $ 5,617,084 | $ 5,205,918 |
Home Equity Line of Credit [Member] | |||
Loans | 203,184 | 200,725 | |
Credit Card Receivable [Member] | |||
Loans | 24,055 | 20,413 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 2,453,737 | 2,231,975 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Loans | 1,508,615 | 1,397,346 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Loans | 945,122 | 834,629 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | |||
Loans | 826,201 | 765,163 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | |||
Loans | 826,201 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||
Loans | 4,827 | 18,593 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | |||
Loans | 419,999 | 465,813 | |
Total Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 1,251,027 | 1,249,569 | |
Residential Real Estate Portfolio Segment [Member] | |||
Loans | 1,046,548 | 904,763 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Loans | 350,386 | 313,248 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Loans | 696,162 | 591,515 | |
Construction and Development [Member] | |||
Loans | 480,120 | 445,690 | |
Consumer Portfolio Segment [Member] | |||
Loans | 143,703 | 139,461 | |
Finance Leases Portfolio Segment [Member] | |||
Loans | $ 14,710 | $ 13,322 | |
[1]Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. |
Note 3 - Loans and Allowance _5
Note 3 - Loans and Allowance for Credit Losses on Loans - PCD Loans (Details) - Commonwealth [Member] $ in Thousands | Mar. 07, 2022 USD ($) |
Purchase price of PCD loans at acquisition | $ 88,549 |
Allowance for credit losses at acquisition | (9,950) |
Non-credit discount at acquisition | (4,094) |
Fair value of PCD loans at acquisition | $ 74,505 |
Note 3 - Loans and Allowance _6
Note 3 - Loans and Allowance for Credit Losses on Loans - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Evaluation Method (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Beginning balance | $ 77,710 | $ 66,362 | $ 73,531 | $ 53,898 | |
Provision for credit losses | 2,300 | 4,103 | 6,700 | 6,082 | |
Charge-offs | (2,115) | (926) | (2,805) | (1,705) | |
Recoveries | 180 | 544 | 649 | 1,858 | |
Ending balance | 78,075 | 70,083 | 78,075 | 70,083 | |
Initial Allowance on PCD Loans | 0 | 9,950 | |||
Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 24,154 | 24,154 | $ 22,459 | ||
Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 5,006 | 5,006 | 5,028 | ||
Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 275 | 275 | 219 | ||
Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 29,435 | 29,435 | 27,706 | ||
Allowance for loans, individually evaluated for impairment | 4,225 | 4,225 | 5,822 | ||
Home Equity Line of Credit [Member] | |||||
Beginning balance | 1,609 | 1,521 | 1,613 | 1,044 | |
Provision for credit losses | (7) | 105 | 1 | 580 | |
Charge-offs | 0 | 0 | (12) | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 1,602 | 1,626 | 1,602 | 1,626 | |
Initial Allowance on PCD Loans | 0 | 2 | |||
Home Equity Line of Credit [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 304 | 304 | 205 | ||
Home Equity Line of Credit [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Home Equity Line of Credit [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Home Equity Line of Credit [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 304 | 304 | 205 | ||
Allowance for loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Beginning balance | 33,330 | 30,565 | 33,468 | 25,555 | |
Provision for credit losses | 668 | 275 | 494 | (359) | |
Charge-offs | 0 | (37) | 0 | (78) | |
Recoveries | 23 | 153 | 59 | 209 | |
Ending balance | 34,021 | 30,956 | 34,021 | 30,956 | |
Initial Allowance on PCD Loans | 0 | 5,629 | |||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 16,910 | 16,910 | 19,179 | ||
Commercial Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 16,910 | 16,910 | 19,179 | ||
Allowance for loans, individually evaluated for impairment | 2,732 | 2,732 | 3,498 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Beginning balance | 21,773 | 20,723 | 22,641 | 15,960 | |
Provision for credit losses | (420) | 502 | (1,324) | 1,744 | |
Charge-offs | 0 | (37) | 0 | (37) | |
Recoveries | 17 | 0 | 53 | 13 | |
Ending balance | 21,370 | 21,188 | 21,370 | 21,188 | |
Initial Allowance on PCD Loans | 0 | 3,508 | |||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 14,004 | 14,004 | 14,764 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 14,004 | 14,004 | 14,764 | ||
Allowance for loans, individually evaluated for impairment | 1,892 | 1,892 | 2,652 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Beginning balance | 11,557 | 9,842 | 10,827 | 9,595 | |
Provision for credit losses | 1,088 | (227) | 1,818 | (2,103) | |
Charge-offs | 0 | 0 | 0 | (41) | |
Recoveries | 6 | 153 | 6 | 196 | |
Ending balance | 12,651 | 9,768 | 12,651 | 9,768 | |
Initial Allowance on PCD Loans | 0 | 2,121 | |||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 2,906 | 2,906 | 4,415 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 2,906 | 2,906 | 4,415 | ||
Allowance for loans, individually evaluated for impairment | 840 | 840 | 846 | ||
Commercial and Industrial Portfolio Segment [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 3,122 | 3,122 | 461 | ||
Commercial and Industrial Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 5,006 | 5,006 | 5,028 | ||
Commercial and Industrial Portfolio Segment [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial and Industrial Portfolio Segment [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 8,128 | 8,128 | 5,489 | ||
Allowance for loans, individually evaluated for impairment | 1,151 | 1,151 | 1,966 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | |||||
Beginning balance | 14,792 | 12,342 | 12,991 | 8,577 | |
Provision for credit losses | 1,026 | 2,055 | 2,955 | 3,796 | |
Charge-offs | (1,878) | (466) | (2,006) | (594) | |
Recoveries | 16 | 232 | 16 | 1,026 | |
Ending balance | 13,956 | 14,163 | 13,956 | 14,163 | |
Initial Allowance on PCD Loans | 0 | 1,358 | |||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 432 | 432 | 39 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 4,847 | 4,847 | 2,207 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 5,279 | 5,279 | 2,246 | ||
Allowance for loans, individually evaluated for impairment | 412 | 412 | 1,205 | ||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | |||||
Beginning balance | 6,503 | 5,000 | 6,389 | 4,802 | |
Provision for credit losses | (158) | 203 | (193) | (1,437) | |
Charge-offs | 0 | (99) | 0 | (135) | |
Recoveries | 1 | 0 | 150 | 0 | |
Ending balance | 6,346 | 5,104 | 6,346 | 5,104 | |
Initial Allowance on PCD Loans | 0 | 1,874 | |||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 2,690 | 2,690 | 422 | ||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 159 | 159 | 2,821 | ||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 2,849 | 2,849 | 3,243 | ||
Allowance for loans, individually evaluated for impairment | 739 | 739 | 761 | ||
Total Commercial and Industrial Portfolio Segment [Member] | |||||
Beginning balance | 21,295 | 17,342 | 19,380 | 13,379 | |
Provision for credit losses | 868 | 2,258 | 2,762 | 2,359 | |
Charge-offs | (1,878) | (565) | (2,006) | (729) | |
Recoveries | 17 | 232 | 166 | 1,026 | |
Ending balance | 20,302 | 19,267 | 20,302 | 19,267 | |
Initial Allowance on PCD Loans | 0 | 3,232 | |||
Residential Real Estate Portfolio Segment [Member] | |||||
Beginning balance | 13,004 | 9,178 | 10,314 | 7,993 | |
Provision for credit losses | 333 | 569 | 3,043 | 1,109 | |
Charge-offs | 0 | (17) | (43) | (30) | |
Recoveries | 6 | 11 | 29 | 79 | |
Ending balance | 13,343 | 9,741 | 13,343 | 9,741 | |
Initial Allowance on PCD Loans | 0 | 590 | |||
Residential Real Estate Portfolio Segment [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 3,818 | 3,818 | 2,614 | ||
Residential Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 3,818 | 3,818 | 2,614 | ||
Allowance for loans, individually evaluated for impairment | 322 | 322 | 338 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Beginning balance | 4,169 | 3,190 | 3,597 | 3,677 | |
Provision for credit losses | 55 | 146 | 625 | (349) | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 9 | 2 | 17 | |
Ending balance | 4,224 | 3,345 | 4,224 | 3,345 | |
Initial Allowance on PCD Loans | 0 | 0 | |||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 567 | 567 | 415 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 567 | 567 | 415 | ||
Allowance for loans, individually evaluated for impairment | 116 | 116 | 116 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Beginning balance | 8,835 | 5,988 | 6,717 | 4,316 | |
Provision for credit losses | 278 | 423 | 2,418 | 1,458 | |
Charge-offs | 0 | (17) | (43) | (30) | |
Recoveries | 6 | 2 | 27 | 62 | |
Ending balance | 9,119 | 6,396 | 9,119 | 6,396 | |
Initial Allowance on PCD Loans | 0 | 590 | |||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 3,251 | 3,251 | 2,199 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 3,251 | 3,251 | 2,199 | ||
Allowance for loans, individually evaluated for impairment | 206 | 206 | 222 | ||
Construction and Development [Member] | |||||
Beginning balance | 6,752 | 6,214 | 7,186 | 4,789 | |
Provision for credit losses | 227 | 731 | (207) | 1,809 | |
Charge-offs | 0 | 0 | 0 | (72) | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 6,979 | 6,945 | 6,979 | 6,945 | |
Initial Allowance on PCD Loans | 0 | 419 | |||
Construction and Development [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Construction and Development [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Construction and Development [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Construction and Development [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Allowance for loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Consumer Portfolio Segment [Member] | |||||
Beginning balance | 1,285 | 1,113 | 1,158 | 772 | |
Provision for credit losses | 184 | 162 | 473 | 565 | |
Charge-offs | (232) | (307) | (639) | (796) | |
Recoveries | 131 | 148 | 376 | 497 | |
Ending balance | 1,368 | 1,116 | 1,368 | 1,116 | |
Initial Allowance on PCD Loans | 0 | 78 | |||
Consumer Portfolio Segment [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 275 | 275 | 219 | ||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 275 | 275 | 219 | ||
Allowance for loans, individually evaluated for impairment | 20 | 20 | 20 | ||
Finance Leases Portfolio Segment [Member] | |||||
Beginning balance | 205 | 221 | 201 | 204 | |
Provision for credit losses | 7 | (10) | 11 | 7 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 212 | 211 | 212 | 211 | |
Initial Allowance on PCD Loans | 0 | 0 | |||
Finance Leases Portfolio Segment [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Finance Leases Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Finance Leases Portfolio Segment [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Finance Leases Portfolio Segment [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Allowance for loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | |||||
Beginning balance | 230 | 208 | 211 | 162 | |
Provision for credit losses | 20 | 13 | 123 | 12 | |
Charge-offs | (5) | 0 | (105) | 0 | |
Recoveries | 3 | 0 | 19 | 47 | |
Ending balance | 248 | 221 | 248 | 221 | |
Initial Allowance on PCD Loans | $ 0 | $ 0 | |||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Real Estate [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Accounts Receivable and Equipment [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Other Collateral [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Collateral Pledged [Member] | |||||
Loans, individually evaluated for impairment | 0 | 0 | 0 | ||
Allowance for loans, individually evaluated for impairment | $ 0 | $ 0 | $ 0 |
Note 3 - Loans and Allowance _7
Note 3 - Loans and Allowance for Credit Losses on Loans - Non-accrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | ||
Non-accrual with no allowance | $ 3,974 | $ 2,295 | ||
Non-accrual loans | 17,227 | 14,242 | ||
Past due 90-days-or-more and still accruing interest | 1 | [1] | 892 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Home Equity Line of Credit [Member] | ||||
Non-accrual with no allowance | 0 | 0 | ||
Non-accrual loans | 304 | 205 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 0 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Credit Cards [Member] | ||||
Non-accrual with no allowance | 0 | 0 | ||
Non-accrual loans | 12 | 0 | ||
Past due 90-days-or-more and still accruing interest | 1 | [1] | 7 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Non-accrual with no allowance | 0 | 1,370 | ||
Non-accrual loans | 8,271 | 10,232 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 78 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||||
Non-accrual with no allowance | 0 | 0 | ||
Non-accrual loans | 7,162 | 7,707 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 78 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Non-accrual with no allowance | 0 | 1,370 | ||
Non-accrual loans | 1,109 | 2,525 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 0 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | ||||
Non-accrual with no allowance | 3,737 | 403 | ||
Non-accrual loans | 5,229 | 1,182 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 259 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Commercial and Industrial Portfolio Segment [Member] | PPP Loans [Member] | ||||
Non-accrual with no allowance | 0 | 0 | ||
Non-accrual loans | 0 | 21 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 28 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | ||||
Non-accrual with no allowance | 0 | 273 | ||
Non-accrual loans | 58 | 348 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 300 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Total Commercial and Industrial Portfolio Segment [Member] | ||||
Non-accrual with no allowance | 3,737 | 676 | ||
Non-accrual loans | 5,287 | 1,551 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 587 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Residential Real Estate Portfolio Segment [Member] | ||||
Non-accrual with no allowance | 237 | 249 | ||
Non-accrual loans | 3,087 | 2,020 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 220 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||||
Non-accrual with no allowance | 0 | 0 | ||
Non-accrual loans | 378 | 219 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 220 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Non-accrual with no allowance | 237 | 249 | ||
Non-accrual loans | 2,709 | 1,801 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 0 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Construction and Development [Member] | ||||
Non-accrual with no allowance | 0 | 0 | ||
Non-accrual loans | 0 | 0 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 0 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Consumer Portfolio Segment [Member] | ||||
Non-accrual with no allowance | 0 | 0 | ||
Non-accrual loans | 266 | 234 | ||
Past due 90-days-or-more and still accruing interest | 0 | [1] | 0 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | ||
Finance Leases Portfolio Segment [Member] | ||||
Non-accrual with no allowance | 0 | 0 | ||
Non-accrual loans | 0 | 0 | ||
Past due 90-days-or-more and still accruing interest | $ 0 | [1] | 0 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | $ 0 | ||
[1]Does not included TDRs captured in the non-accrual column. |
Note 3 - Loans and Allowance _8
Note 3 - Loans and Allowance for Credit Losses on Loans - Aging of the Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Loans | [1] | $ 5,617,084 | $ 5,205,918 |
Financial Asset, Not Past Due [Member] | |||
Loans | 5,600,975 | 5,189,055 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 7,737 | 7,820 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 4,896 | 5,225 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 3,476 | 3,818 | |
Financial Asset, Past Due [Member] | |||
Loans | 16,109 | 16,863 | |
Home Equity Line of Credit [Member] | |||
Loans | 203,184 | 200,725 | |
Home Equity Line of Credit [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 202,697 | 200,036 | |
Home Equity Line of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 183 | 566 | |
Home Equity Line of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 11 | 40 | |
Home Equity Line of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 293 | 83 | |
Home Equity Line of Credit [Member] | Financial Asset, Past Due [Member] | |||
Loans | 487 | 689 | |
Credit Card Receivable [Member] | |||
Loans | 24,055 | 20,413 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 2,453,737 | 2,231,975 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 2,448,439 | 2,224,747 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 1,484 | 3,629 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 3,235 | 3,052 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 579 | 547 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans | 5,298 | 7,228 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Loans | 1,508,615 | 1,397,346 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 1,504,918 | 1,393,016 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 114 | 3,404 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 3,235 | 460 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 348 | 466 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Past Due [Member] | |||
Loans | 3,697 | 4,330 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Loans | 945,122 | 834,629 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 943,521 | 831,731 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 1,370 | 225 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 0 | 2,592 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 231 | 81 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Past Due [Member] | |||
Loans | 1,601 | 2,898 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | |||
Loans | 826,201 | 765,163 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 824,236 | 763,793 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 456 | 157 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 803 | 292 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 706 | 921 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, Past Due [Member] | |||
Loans | 1,965 | 1,370 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | |||
Loans | 826,201 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||
Loans | 4,827 | 18,593 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Financial Asset, Not Past Due [Member] | Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||
Loans | 4,827 | 17,719 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||
Loans | 0 | 748 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||
Loans | 0 | 77 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||
Loans | 0 | 49 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Financial Asset, Past Due [Member] | Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||
Loans | 0 | 874 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | |||
Loans | 419,999 | 465,813 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 419,734 | 464,494 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 207 | 389 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 0 | 300 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 58 | 630 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, Past Due [Member] | |||
Loans | 265 | 1,319 | |
Total Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 1,251,027 | 1,249,569 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 1,248,797 | 1,246,006 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 663 | 1,294 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 803 | 669 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 764 | 1,600 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans | 2,230 | 3,563 | |
Residential Real Estate Portfolio Segment [Member] | |||
Loans | 1,046,548 | 904,763 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 1,039,205 | 900,079 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 4,995 | 1,986 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 709 | 1,305 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 1,639 | 1,393 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans | 7,343 | 4,684 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Loans | 350,386 | 313,248 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 349,772 | 312,249 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 377 | 373 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 0 | 331 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 237 | 295 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Past Due [Member] | |||
Loans | 614 | 999 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Loans | 696,162 | 591,515 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 689,433 | 587,830 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 4,618 | 1,613 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 709 | 974 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 1,402 | 1,098 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Past Due [Member] | |||
Loans | 6,729 | 3,685 | |
Construction and Development [Member] | |||
Loans | 480,120 | 445,690 | |
Construction and Development [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 480,059 | 445,618 | |
Construction and Development [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 61 | 0 | |
Construction and Development [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 0 | 72 | |
Construction and Development [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Construction and Development [Member] | Financial Asset, Past Due [Member] | |||
Loans | 61 | 72 | |
Consumer Portfolio Segment [Member] | |||
Loans | 143,703 | 139,461 | |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 143,019 | 138,846 | |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 348 | 342 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 136 | 85 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 200 | 188 | |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans | 684 | 615 | |
Finance Leases Portfolio Segment [Member] | |||
Loans | 14,710 | 13,322 | |
Finance Leases Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 14,710 | 13,322 | |
Finance Leases Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Finance Leases Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Finance Leases Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Finance Leases Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Loans | 24,055 | 20,413 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 24,049 | 20,401 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 3 | 3 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 2 | 2 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 1 | 7 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Past Due [Member] | |||
Loans | $ 6 | $ 12 | |
[1]Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. |
Note 3 - Loans and Allowance _9
Note 3 - Loans and Allowance for Credit Losses on Loans - Internally Assigned Risk Grades of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | ||
Current Fiscal Year | $ 958,287 | $ 958,287 | $ 1,507,564 | |||
Fiscal Year before Current Fiscal Year | 1,439,463 | 1,439,463 | 1,226,933 | |||
Two Years before Current Fiscal Year | 1,084,031 | 1,084,031 | 770,387 | |||
Three Years before Current Fiscal Year | 678,867 | 678,867 | 380,097 | |||
Four Years before Current Fiscal Year | 331,221 | 331,221 | 216,175 | |||
More than Five Years before Current Fiscal Year | 423,983 | 423,983 | 354,023 | |||
Revolving | 701,232 | 701,232 | 750,739 | |||
Loans | [1] | 5,617,084 | 5,617,084 | 5,205,918 | ||
Current period gross charge offs, current fiscal year | (1,751) | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | (639) | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | (49) | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | (97) | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | (40) | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | (98) | |||||
Current period gross charge offs, Revolving | (131) | |||||
Current period gross charge offs | (2,115) | $ (926) | (2,805) | $ (1,705) | ||
Revolving, Converted to Term Loan | 5,205,918 | |||||
Pass [Member] | ||||||
Current Fiscal Year | 935,960 | 935,960 | 1,492,177 | |||
Fiscal Year before Current Fiscal Year | 1,426,205 | 1,426,205 | 1,216,737 | |||
Two Years before Current Fiscal Year | 1,075,634 | 1,075,634 | 760,143 | |||
Three Years before Current Fiscal Year | 668,427 | 668,427 | 349,987 | |||
Four Years before Current Fiscal Year | 314,090 | 314,090 | 211,733 | |||
More than Five Years before Current Fiscal Year | 414,874 | 414,874 | 337,493 | |||
Revolving | 682,899 | 682,899 | 735,543 | |||
Loans | 5,518,089 | 5,518,089 | ||||
Revolving, Converted to Term Loan | 5,103,813 | |||||
Special Mention [Member] | ||||||
Current Fiscal Year | 6,858 | 6,858 | 7,105 | |||
Fiscal Year before Current Fiscal Year | 2,867 | 2,867 | 6,814 | |||
Two Years before Current Fiscal Year | 6,235 | 6,235 | 4,968 | |||
Three Years before Current Fiscal Year | 6,021 | 6,021 | 6,069 | |||
Four Years before Current Fiscal Year | 3,881 | 3,881 | 2,226 | |||
More than Five Years before Current Fiscal Year | 5,313 | 5,313 | 6,286 | |||
Revolving | 8,587 | 8,587 | 14,000 | |||
Loans | 39,762 | 39,762 | ||||
Revolving, Converted to Term Loan | 47,468 | |||||
Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 5,363 | 5,363 | 6,038 | |||
Fiscal Year before Current Fiscal Year | 8,066 | 8,066 | 2,164 | |||
Two Years before Current Fiscal Year | 1,048 | 1,048 | 4,659 | |||
Three Years before Current Fiscal Year | 3,728 | 3,728 | 23,313 | |||
Four Years before Current Fiscal Year | 12,841 | 12,841 | 2,068 | |||
More than Five Years before Current Fiscal Year | 1,600 | 1,600 | 1,252 | |||
Revolving | 9,360 | 9,360 | 901 | |||
Loans | 42,006 | 42,006 | ||||
Revolving, Converted to Term Loan | 40,395 | |||||
Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 10,106 | 10,106 | 2,244 | |||
Fiscal Year before Current Fiscal Year | 2,325 | 2,325 | 1,218 | |||
Two Years before Current Fiscal Year | 1,114 | 1,114 | 617 | |||
Three Years before Current Fiscal Year | 691 | 691 | 728 | |||
Four Years before Current Fiscal Year | 409 | 409 | 148 | |||
More than Five Years before Current Fiscal Year | 2,196 | 2,196 | 8,992 | |||
Revolving | 386 | 386 | 295 | |||
Loans | 17,227 | 17,227 | ||||
Revolving, Converted to Term Loan | 14,242 | |||||
Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Credit Card Receivable [Member] | ||||||
Loans | 24,055 | 24,055 | 20,413 | |||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans | 2,453,737 | 2,453,737 | 2,231,975 | |||
Current period gross charge offs | 0 | (37) | 0 | (78) | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||||||
Current Fiscal Year | 265,232 | 265,232 | 339,841 | |||
Fiscal Year before Current Fiscal Year | 356,316 | 356,316 | 383,630 | |||
Two Years before Current Fiscal Year | 342,346 | 342,346 | 268,577 | |||
Three Years before Current Fiscal Year | 225,739 | 225,739 | 151,515 | |||
Four Years before Current Fiscal Year | 138,724 | 138,724 | 76,359 | |||
More than Five Years before Current Fiscal Year | 158,145 | 158,145 | 152,449 | |||
Revolving | 22,113 | 22,113 | 24,975 | |||
Loans | 1,508,615 | 1,508,615 | 1,397,346 | |||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Revolving | 0 | |||||
Current period gross charge offs | 0 | (37) | 0 | (37) | ||
Revolving, Converted to Term Loan | 1,397,346 | |||||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Pass [Member] | ||||||
Current Fiscal Year | 255,865 | 255,865 | 338,460 | |||
Fiscal Year before Current Fiscal Year | 354,634 | 354,634 | 380,612 | |||
Two Years before Current Fiscal Year | 338,426 | 338,426 | 264,833 | |||
Three Years before Current Fiscal Year | 222,111 | 222,111 | 128,407 | |||
Four Years before Current Fiscal Year | 122,851 | 122,851 | 76,359 | |||
More than Five Years before Current Fiscal Year | 153,093 | 153,093 | 139,095 | |||
Revolving | 22,016 | 22,016 | 24,875 | |||
Loans | 1,468,996 | 1,468,996 | ||||
Revolving, Converted to Term Loan | 1,352,641 | |||||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 3,287 | 3,287 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 2,006 | |||
Two Years before Current Fiscal Year | 2,917 | 2,917 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 3,534 | |||
Four Years before Current Fiscal Year | 3,373 | 3,373 | 0 | |||
More than Five Years before Current Fiscal Year | 4,098 | 4,098 | 5,414 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 13,675 | 13,675 | ||||
Revolving, Converted to Term Loan | 10,954 | |||||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 1,381 | |||
Fiscal Year before Current Fiscal Year | 1,383 | 1,383 | 1,012 | |||
Two Years before Current Fiscal Year | 1,003 | 1,003 | 3,744 | |||
Three Years before Current Fiscal Year | 3,628 | 3,628 | 19,574 | |||
Four Years before Current Fiscal Year | 12,424 | 12,424 | 0 | |||
More than Five Years before Current Fiscal Year | 247 | 247 | 233 | |||
Revolving | 97 | 97 | 100 | |||
Loans | 18,782 | 18,782 | ||||
Revolving, Converted to Term Loan | 26,044 | |||||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 6,080 | 6,080 | 0 | |||
Fiscal Year before Current Fiscal Year | 299 | 299 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 76 | 76 | 0 | |||
More than Five Years before Current Fiscal Year | 707 | 707 | 7,707 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 7,162 | 7,162 | ||||
Revolving, Converted to Term Loan | 7,707 | |||||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||||
Current Fiscal Year | 130,853 | 130,853 | 170,139 | |||
Fiscal Year before Current Fiscal Year | 187,891 | 187,891 | 206,439 | |||
Two Years before Current Fiscal Year | 205,015 | 205,015 | 198,592 | |||
Three Years before Current Fiscal Year | 194,746 | 194,746 | 107,662 | |||
Four Years before Current Fiscal Year | 96,598 | 96,598 | 63,503 | |||
More than Five Years before Current Fiscal Year | 114,205 | 114,205 | 74,722 | |||
Revolving | 15,814 | 15,814 | 13,572 | |||
Loans | 945,122 | 945,122 | 834,629 | |||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Revolving | 0 | |||||
Current period gross charge offs | 0 | 0 | 0 | (41) | ||
Revolving, Converted to Term Loan | 834,629 | |||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Pass [Member] | ||||||
Current Fiscal Year | 127,016 | 127,016 | 165,711 | |||
Fiscal Year before Current Fiscal Year | 181,373 | 181,373 | 202,599 | |||
Two Years before Current Fiscal Year | 203,605 | 203,605 | 194,052 | |||
Three Years before Current Fiscal Year | 189,483 | 189,483 | 104,148 | |||
Four Years before Current Fiscal Year | 96,127 | 96,127 | 60,899 | |||
More than Five Years before Current Fiscal Year | 113,057 | 113,057 | 74,356 | |||
Revolving | 15,814 | 15,814 | 13,062 | |||
Loans | 926,475 | 926,475 | ||||
Revolving, Converted to Term Loan | 814,827 | |||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 3,571 | 3,571 | 2,895 | |||
Fiscal Year before Current Fiscal Year | 2,002 | 2,002 | 1,777 | |||
Two Years before Current Fiscal Year | 602 | 602 | 4,540 | |||
Three Years before Current Fiscal Year | 5,192 | 5,192 | 1,891 | |||
Four Years before Current Fiscal Year | 79 | 79 | 676 | |||
More than Five Years before Current Fiscal Year | 771 | 771 | 216 | |||
Revolving | 0 | 0 | 510 | |||
Loans | 12,217 | 12,217 | ||||
Revolving, Converted to Term Loan | 12,505 | |||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 266 | 266 | 0 | |||
Fiscal Year before Current Fiscal Year | 4,286 | 4,286 | 1,152 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 1,623 | |||
Four Years before Current Fiscal Year | 392 | 392 | 1,928 | |||
More than Five Years before Current Fiscal Year | 377 | 377 | 69 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 5,321 | 5,321 | ||||
Revolving, Converted to Term Loan | 4,772 | |||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 1,533 | |||
Fiscal Year before Current Fiscal Year | 230 | 230 | 911 | |||
Two Years before Current Fiscal Year | 808 | 808 | 0 | |||
Three Years before Current Fiscal Year | 71 | 71 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 81 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 1,109 | 1,109 | ||||
Revolving, Converted to Term Loan | 2,525 | |||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | ||||||
Current Fiscal Year | 54,948 | |||||
Fiscal Year before Current Fiscal Year | 13,999 | |||||
Two Years before Current Fiscal Year | 1,896 | |||||
Three Years before Current Fiscal Year | 11,367 | |||||
Four Years before Current Fiscal Year | 1,188 | |||||
More than Five Years before Current Fiscal Year | 1,399 | |||||
Revolving | 381,016 | |||||
Loans | 419,999 | 419,999 | 465,813 | |||
Current period gross charge offs | 0 | (99) | 0 | (135) | ||
Revolving, Converted to Term Loan | 465,813 | |||||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Pass [Member] | ||||||
Current Fiscal Year | 34,187 | 34,187 | 54,948 | |||
Fiscal Year before Current Fiscal Year | 29,544 | 29,544 | 13,999 | |||
Two Years before Current Fiscal Year | 3,413 | 3,413 | 991 | |||
Three Years before Current Fiscal Year | 360 | 360 | 9,179 | |||
Four Years before Current Fiscal Year | 9,143 | 9,143 | 1,188 | |||
More than Five Years before Current Fiscal Year | 2,053 | 2,053 | 1,033 | |||
Revolving | 323,574 | 323,574 | 367,688 | |||
Loans | 402,274 | 402,274 | ||||
Revolving, Converted to Term Loan | 449,026 | |||||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 829 | 829 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 366 | |||
Revolving | 7,588 | 7,588 | 12,491 | |||
Loans | 8,417 | 8,417 | ||||
Revolving, Converted to Term Loan | 12,857 | |||||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 905 | |||
Three Years before Current Fiscal Year | 0 | 0 | 1,915 | |||
Four Years before Current Fiscal Year | 25 | 25 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 9,225 | 9,225 | 762 | |||
Loans | 9,250 | 9,250 | ||||
Revolving, Converted to Term Loan | 3,582 | |||||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 273 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 58 | 58 | 75 | |||
Loans | 58 | 58 | ||||
Revolving, Converted to Term Loan | 348 | |||||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | ||||||
Current Fiscal Year | 197,474 | 197,474 | 362,022 | |||
Fiscal Year before Current Fiscal Year | 323,753 | 323,753 | 213,880 | |||
Two Years before Current Fiscal Year | 183,396 | 183,396 | 90,549 | |||
Three Years before Current Fiscal Year | 62,748 | 62,748 | 39,673 | |||
Four Years before Current Fiscal Year | 27,928 | 27,928 | 31,344 | |||
More than Five Years before Current Fiscal Year | 30,902 | 30,902 | 27,695 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 826,201 | 826,201 | ||||
Current period gross charge offs, current fiscal year | (1,274) | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | (621) | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | (26) | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | (57) | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | (28) | |||||
Current period gross charge offs, Revolving | 0 | |||||
Current period gross charge offs | (1,878) | (466) | (2,006) | (594) | ||
Revolving, Converted to Term Loan | 765,163 | |||||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Pass [Member] | ||||||
Current Fiscal Year | 192,704 | 192,704 | 357,470 | |||
Fiscal Year before Current Fiscal Year | 322,039 | 322,039 | 210,906 | |||
Two Years before Current Fiscal Year | 180,682 | 180,682 | 90,063 | |||
Three Years before Current Fiscal Year | 62,307 | 62,307 | 39,068 | |||
Four Years before Current Fiscal Year | 27,539 | 27,539 | 29,901 | |||
More than Five Years before Current Fiscal Year | 30,438 | 30,438 | 27,354 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 815,709 | 815,709 | ||||
Revolving, Converted to Term Loan | 754,762 | |||||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 0 | 0 | 3,835 | |||
Fiscal Year before Current Fiscal Year | 855 | 855 | 2,935 | |||
Two Years before Current Fiscal Year | 2,625 | 2,625 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 303 | |||
Four Years before Current Fiscal Year | 167 | 167 | 1,426 | |||
More than Five Years before Current Fiscal Year | 164 | 164 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 3,811 | 3,811 | ||||
Revolving, Converted to Term Loan | 8,499 | |||||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 922 | 922 | 178 | |||
Fiscal Year before Current Fiscal Year | 85 | 85 | 0 | |||
Two Years before Current Fiscal Year | 45 | 45 | 0 | |||
Three Years before Current Fiscal Year | 100 | 100 | 201 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 300 | 300 | 341 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 1,452 | 1,452 | ||||
Revolving, Converted to Term Loan | 720 | |||||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 3,848 | 3,848 | 539 | |||
Fiscal Year before Current Fiscal Year | 774 | 774 | 39 | |||
Two Years before Current Fiscal Year | 44 | 44 | 486 | |||
Three Years before Current Fiscal Year | 341 | 341 | 101 | |||
Four Years before Current Fiscal Year | 222 | 222 | 17 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 5,229 | 5,229 | ||||
Revolving, Converted to Term Loan | 1,182 | |||||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial and Industrial Portfolio Segment [Member] | PPP Loans [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 14,212 | |||
Two Years before Current Fiscal Year | 2,753 | 2,753 | 4,381 | |||
Three Years before Current Fiscal Year | 2,074 | 2,074 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 4,827 | 4,827 | ||||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Revolving | 0 | |||||
Current period gross charge offs | 0 | |||||
Revolving, Converted to Term Loan | 18,593 | |||||
Commercial and Industrial Portfolio Segment [Member] | PPP Loans [Member] | Pass [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 14,212 | |||
Two Years before Current Fiscal Year | 2,753 | 2,753 | 4,047 | |||
Three Years before Current Fiscal Year | 2,074 | 2,074 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 4,827 | 4,827 | ||||
Revolving, Converted to Term Loan | 18,259 | |||||
Commercial and Industrial Portfolio Segment [Member] | PPP Loans [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 313 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 313 | |||||
Commercial and Industrial Portfolio Segment [Member] | PPP Loans [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial and Industrial Portfolio Segment [Member] | PPP Loans [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 21 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 21 | |||||
Commercial and Industrial Portfolio Segment [Member] | PPP Loans [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Consumer Portfolio Segment [Member] | ||||||
Current Fiscal Year | 25,219 | 25,219 | 27,329 | |||
Fiscal Year before Current Fiscal Year | 20,018 | 20,018 | 18,452 | |||
Two Years before Current Fiscal Year | 11,871 | 11,871 | 5,576 | |||
Three Years before Current Fiscal Year | 3,380 | 3,380 | 5,512 | |||
Four Years before Current Fiscal Year | 2,490 | 2,490 | 2,279 | |||
More than Five Years before Current Fiscal Year | 2,099 | 2,099 | 1,652 | |||
Revolving | 78,626 | 78,626 | 78,661 | |||
Loans | 143,703 | 143,703 | 139,461 | |||
Current period gross charge offs, current fiscal year | (477) | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | (18) | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | (23) | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | (40) | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | (40) | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | (27) | |||||
Current period gross charge offs, Revolving | (14) | |||||
Current period gross charge offs | (232) | (307) | (639) | (796) | ||
Revolving, Converted to Term Loan | 139,461 | |||||
Consumer Portfolio Segment [Member] | Pass [Member] | ||||||
Current Fiscal Year | 25,219 | 25,219 | 27,308 | |||
Fiscal Year before Current Fiscal Year | 19,908 | 19,908 | 18,396 | |||
Two Years before Current Fiscal Year | 11,791 | 11,791 | 5,536 | |||
Three Years before Current Fiscal Year | 3,355 | 3,355 | 5,450 | |||
Four Years before Current Fiscal Year | 2,477 | 2,477 | 2,270 | |||
More than Five Years before Current Fiscal Year | 2,073 | 2,073 | 1,621 | |||
Revolving | 78,614 | 78,614 | 78,646 | |||
Loans | 143,437 | 143,437 | ||||
Revolving, Converted to Term Loan | 139,227 | |||||
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Consumer Portfolio Segment [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Consumer Portfolio Segment [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 21 | |||
Fiscal Year before Current Fiscal Year | 110 | 110 | 56 | |||
Two Years before Current Fiscal Year | 80 | 80 | 40 | |||
Three Years before Current Fiscal Year | 25 | 25 | 62 | |||
Four Years before Current Fiscal Year | 13 | 13 | 9 | |||
More than Five Years before Current Fiscal Year | 26 | 26 | 31 | |||
Revolving | 12 | 12 | 15 | |||
Loans | 266 | 266 | ||||
Revolving, Converted to Term Loan | 234 | |||||
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial and Industrial Loans [Member] | Lines of Credit [Member] | ||||||
Current Fiscal Year | 34,187 | 34,187 | ||||
Fiscal Year before Current Fiscal Year | 29,544 | 29,544 | ||||
Two Years before Current Fiscal Year | 3,413 | 3,413 | ||||
Three Years before Current Fiscal Year | 1,189 | 1,189 | ||||
Four Years before Current Fiscal Year | 9,168 | 9,168 | ||||
More than Five Years before Current Fiscal Year | 2,053 | 2,053 | ||||
Revolving | 340,445 | 340,445 | ||||
Loans | 419,999 | 419,999 | ||||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Revolving | 0 | |||||
Current period gross charge offs | 0 | |||||
Residential Real Estate Portfolio Segment [Member] | ||||||
Loans | 1,046,548 | 1,046,548 | 904,763 | |||
Current period gross charge offs | 0 | (17) | (43) | (30) | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||||||
Current Fiscal Year | 65,058 | 65,058 | 97,414 | |||
Fiscal Year before Current Fiscal Year | 88,158 | 88,158 | 83,479 | |||
Two Years before Current Fiscal Year | 80,248 | 80,248 | 55,902 | |||
Three Years before Current Fiscal Year | 51,062 | 51,062 | 34,575 | |||
Four Years before Current Fiscal Year | 32,079 | 32,079 | 19,424 | |||
More than Five Years before Current Fiscal Year | 33,781 | 33,781 | 22,454 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 350,386 | 350,386 | 313,248 | |||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Revolving | 0 | |||||
Current period gross charge offs | 0 | 0 | 0 | 0 | ||
Revolving, Converted to Term Loan | 313,248 | |||||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Pass [Member] | ||||||
Current Fiscal Year | 65,058 | 65,058 | 97,313 | |||
Fiscal Year before Current Fiscal Year | 87,911 | 87,911 | 83,458 | |||
Two Years before Current Fiscal Year | 80,228 | 80,228 | 55,787 | |||
Three Years before Current Fiscal Year | 51,062 | 51,062 | 34,304 | |||
Four Years before Current Fiscal Year | 31,771 | 31,771 | 19,300 | |||
More than Five Years before Current Fiscal Year | 33,108 | 33,108 | 21,720 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 349,138 | 349,138 | ||||
Revolving, Converted to Term Loan | 311,882 | |||||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 0 | 0 | 15 | |||
Fiscal Year before Current Fiscal Year | 10 | 10 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 115 | |||
Three Years before Current Fiscal Year | 0 | 0 | 271 | |||
Four Years before Current Fiscal Year | 262 | 262 | 124 | |||
More than Five Years before Current Fiscal Year | 280 | 280 | 290 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 552 | 552 | ||||
Revolving, Converted to Term Loan | 815 | |||||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 318 | 318 | 332 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 318 | 318 | ||||
Revolving, Converted to Term Loan | 332 | |||||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 86 | |||
Fiscal Year before Current Fiscal Year | 237 | 237 | 21 | |||
Two Years before Current Fiscal Year | 20 | 20 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 46 | 46 | 0 | |||
More than Five Years before Current Fiscal Year | 75 | 75 | 112 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 378 | 378 | ||||
Revolving, Converted to Term Loan | 219 | |||||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||||
Current Fiscal Year | 149,162 | 149,162 | 189,208 | |||
Fiscal Year before Current Fiscal Year | 181,792 | 181,792 | 189,294 | |||
Two Years before Current Fiscal Year | 179,573 | 179,573 | 96,898 | |||
Three Years before Current Fiscal Year | 88,347 | 88,347 | 28,678 | |||
Four Years before Current Fiscal Year | 23,430 | 23,430 | 15,543 | |||
More than Five Years before Current Fiscal Year | 73,858 | 73,858 | 71,894 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 696,162 | 696,162 | 591,515 | |||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | (43) | |||||
Current period gross charge offs, Revolving | 0 | |||||
Current period gross charge offs | 0 | (17) | (43) | (30) | ||
Revolving, Converted to Term Loan | 591,515 | |||||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Pass [Member] | ||||||
Current Fiscal Year | 148,984 | 148,984 | 188,765 | |||
Fiscal Year before Current Fiscal Year | 181,101 | 181,101 | 189,007 | |||
Two Years before Current Fiscal Year | 179,320 | 179,320 | 96,818 | |||
Three Years before Current Fiscal Year | 88,093 | 88,093 | 28,316 | |||
Four Years before Current Fiscal Year | 23,378 | 23,378 | 15,281 | |||
More than Five Years before Current Fiscal Year | 72,112 | 72,112 | 70,556 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 692,988 | 692,988 | ||||
Revolving, Converted to Term Loan | 588,743 | |||||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 0 | 0 | 360 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 96 | |||
Two Years before Current Fiscal Year | 91 | 91 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 70 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 91 | 91 | ||||
Revolving, Converted to Term Loan | 526 | |||||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 18 | |||
Fiscal Year before Current Fiscal Year | 16 | 16 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 10 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 140 | |||
More than Five Years before Current Fiscal Year | 358 | 358 | 277 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 374 | 374 | ||||
Revolving, Converted to Term Loan | 445 | |||||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 178 | 178 | 65 | |||
Fiscal Year before Current Fiscal Year | 675 | 675 | 191 | |||
Two Years before Current Fiscal Year | 162 | 162 | 70 | |||
Three Years before Current Fiscal Year | 254 | 254 | 292 | |||
Four Years before Current Fiscal Year | 52 | 52 | 122 | |||
More than Five Years before Current Fiscal Year | 1,388 | 1,388 | 1,061 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 2,709 | 2,709 | ||||
Revolving, Converted to Term Loan | 1,801 | |||||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Finance Leases Portfolio Segment [Member] | ||||||
Current Fiscal Year | 3,688 | 3,688 | 4,643 | |||
Fiscal Year before Current Fiscal Year | 3,360 | 3,360 | 4,344 | |||
Two Years before Current Fiscal Year | 1,937 | 1,937 | 2,589 | |||
Three Years before Current Fiscal Year | 307 | 307 | 535 | |||
Four Years before Current Fiscal Year | 315 | 315 | 576 | |||
More than Five Years before Current Fiscal Year | 5,103 | 5,103 | 635 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 14,710 | 14,710 | 13,322 | |||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Revolving | 0 | |||||
Current period gross charge offs | 0 | 0 | 0 | 0 | ||
Revolving, Converted to Term Loan | 13,322 | |||||
Finance Leases Portfolio Segment [Member] | Pass [Member] | ||||||
Current Fiscal Year | 3,688 | 3,688 | 4,643 | |||
Fiscal Year before Current Fiscal Year | 3,360 | 3,360 | 4,344 | |||
Two Years before Current Fiscal Year | 1,937 | 1,937 | 2,589 | |||
Three Years before Current Fiscal Year | 307 | 307 | 535 | |||
Four Years before Current Fiscal Year | 315 | 315 | 576 | |||
More than Five Years before Current Fiscal Year | 5,103 | 5,103 | 635 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 14,710 | 14,710 | ||||
Revolving, Converted to Term Loan | 13,322 | |||||
Finance Leases Portfolio Segment [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Finance Leases Portfolio Segment [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Finance Leases Portfolio Segment [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Finance Leases Portfolio Segment [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 24,055 | 24,055 | 20,413 | |||
Loans | 24,055 | 24,055 | 20,413 | |||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Revolving | (105) | |||||
Current period gross charge offs | (5) | 0 | (105) | 0 | ||
Revolving, Converted to Term Loan | 20,413 | |||||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Performing Financial Instruments [Member] | ||||||
Loans | 24,043 | 24,043 | 20,413 | |||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Nonperforming Financial Instruments [Member] | ||||||
Loans | 12 | 12 | 0 | |||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Pass [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 24,043 | 24,043 | 20,413 | |||
Loans | 24,043 | 24,043 | ||||
Revolving, Converted to Term Loan | 20,413 | |||||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 12 | 12 | 0 | |||
Loans | 12 | 12 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Construction and Development [Member] | ||||||
Current Fiscal Year | 87,414 | 87,414 | 262,020 | |||
Fiscal Year before Current Fiscal Year | 248,631 | 248,631 | 99,204 | |||
Two Years before Current Fiscal Year | 73,479 | 73,479 | 45,427 | |||
Three Years before Current Fiscal Year | 49,275 | 49,275 | 580 | |||
Four Years before Current Fiscal Year | 489 | 489 | 5,959 | |||
More than Five Years before Current Fiscal Year | 3,837 | 3,837 | 1,123 | |||
Revolving | 16,995 | 16,995 | 31,377 | |||
Loans | 480,120 | 480,120 | 445,690 | |||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Revolving | 0 | |||||
Current period gross charge offs | 0 | $ 0 | 0 | $ (72) | ||
Revolving, Converted to Term Loan | 445,690 | |||||
Construction and Development [Member] | Pass [Member] | ||||||
Current Fiscal Year | 83,239 | 83,239 | 257,559 | |||
Fiscal Year before Current Fiscal Year | 246,335 | 246,335 | 99,204 | |||
Two Years before Current Fiscal Year | 73,479 | 73,479 | 45,427 | |||
Three Years before Current Fiscal Year | 49,275 | 49,275 | 580 | |||
Four Years before Current Fiscal Year | 489 | 489 | 5,959 | |||
More than Five Years before Current Fiscal Year | 3,837 | 3,837 | 1,123 | |||
Revolving | 15,996 | 15,996 | 30,378 | |||
Loans | 472,650 | 472,650 | ||||
Revolving, Converted to Term Loan | 440,230 | |||||
Construction and Development [Member] | Special Mention [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 999 | 999 | 999 | |||
Loans | 999 | 999 | ||||
Revolving, Converted to Term Loan | 999 | |||||
Construction and Development [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||||
Current Fiscal Year | 4,175 | 4,175 | 4,461 | |||
Fiscal Year before Current Fiscal Year | 2,296 | 2,296 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 6,471 | 6,471 | ||||
Revolving, Converted to Term Loan | 4,461 | |||||
Construction and Development [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Construction and Development [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Home Equity Line of Credit [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 203,184 | 203,184 | 200,725 | |||
Loans | 203,184 | 203,184 | ||||
Current period gross charge offs, current fiscal year | 0 | |||||
Current period gross charge, Fiscal Year before Current Fiscal Year offs | 0 | |||||
Current period gross charge offs, Two Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Three Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Four Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, More than Five Years before Current Fiscal Year | 0 | |||||
Current period gross charge offs, Revolving | (12) | |||||
Current period gross charge offs | (12) | |||||
Revolving, Converted to Term Loan | 200,725 | |||||
Home Equity Line of Credit [Member] | Pass [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 202,842 | 202,842 | 200,481 | |||
Loans | 202,842 | 202,842 | ||||
Revolving, Converted to Term Loan | 200,481 | |||||
Home Equity Line of Credit [Member] | Substandard [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 38 | 38 | 39 | |||
Loans | 38 | 38 | ||||
Revolving, Converted to Term Loan | 39 | |||||
Home Equity Line of Credit [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 304 | 304 | 205 | |||
Loans | 304 | 304 | ||||
Revolving, Converted to Term Loan | 205 | |||||
Home Equity Line of Credit [Member] | Doubtful [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | 0 | 0 | ||||
Revolving, Converted to Term Loan | 0 | |||||
Home Equity Line of Credit [Member] | OAEM [Member] | ||||||
Current Fiscal Year | 0 | 0 | 0 | |||
Fiscal Year before Current Fiscal Year | 0 | 0 | 0 | |||
Two Years before Current Fiscal Year | 0 | 0 | 0 | |||
Three Years before Current Fiscal Year | 0 | 0 | 0 | |||
Four Years before Current Fiscal Year | 0 | 0 | 0 | |||
More than Five Years before Current Fiscal Year | 0 | 0 | 0 | |||
Revolving | 0 | 0 | 0 | |||
Loans | $ 0 | $ 0 | ||||
Revolving, Converted to Term Loan | $ 0 | |||||
[1]Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. |
Note 3 - Loans and Allowance_10
Note 3 - Loans and Allowance for Credit Losses on Loans - Credit Card Loan Payment Activity (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Loans | [1] | $ 5,617,084 | $ 5,205,918 |
Credit Card Receivable [Member] | |||
Loans | 24,055 | 20,413 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Loans | 24,055 | 20,413 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Performing Financial Instruments [Member] | |||
Loans | 24,043 | 20,413 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | $ 12 | $ 0 | |
[1]Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. |
Note 3 - Loans and Allowance_11
Note 3 - Loans and Allowance for Credit Losses on Loans - Outstanding TDRs (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Balance, TDR | $ 902 |
Specific Reserve Allocation | 202 |
Additional Commitment to Lend | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |
Balance, TDR | 902 |
Specific Reserve Allocation | 202 |
Additional Commitment to Lend | 0 |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | |
Balance, TDR | 0 |
Specific Reserve Allocation | 0 |
Additional Commitment to Lend | $ 0 |
Note 4 - Goodwill (Details Text
Note 4 - Goodwill (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Mar. 07, 2022 | Dec. 31, 2021 | |
Goodwill | $ 194,074 | $ 202,524 | $ 194,074 | $ 202,524 | $ 194,074 | $ 194,074 | $ 202,524 | $ 135,830 | |
Goodwill, Written off Related to Sale of Business Unit | 0 | $ 0 | 0 | $ 0 | |||||
Landmark Financial Advisors, LLC (LFA) [Member] | |||||||||
Goodwill, Written off Related to Sale of Business Unit | 8,500 | ||||||||
Commonwealth [Member] | |||||||||
Goodwill | 58,244 | 58,244 | 58,244 | $ 67,000 | |||||
Total Goodwill [Member] | |||||||||
Goodwill | 194,000 | 194,000 | 194,000 | ||||||
Commercial Banking [Member] | |||||||||
Goodwill | 172,000 | 172,000 | 172,000 | ||||||
WM&T [Member] | |||||||||
Goodwill | $ 22,000 | $ 22,000 | $ 22,000 |
Note 4 - Goodwill - Carrying Va
Note 4 - Goodwill - Carrying Value of Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Mar. 07, 2022 | |
Goodwill | $ 194,074 | $ 202,524 | $ 194,074 | $ 202,524 | $ 194,074 | |
Balance at beginning of period | 194,074 | 202,524 | 194,074 | 135,830 | 135,830 | |
Goodwill recorded from acquisitions | 0 | 0 | 0 | 66,694 | ||
Provisional period adjustments | 0 | 0 | 0 | 0 | ||
Disposition of LFA | 0 | 0 | 0 | 0 | ||
Impairment | 0 | 0 | 0 | 0 | ||
Balance at end of period | 194,074 | $ 202,524 | 194,074 | $ 202,524 | 194,074 | |
Commonwealth [Member] | ||||||
Goodwill | 58,244 | 58,244 | 58,244 | $ 67,000 | ||
Balance at beginning of period | 58,244 | |||||
Balance at end of period | 58,244 | 58,244 | 58,244 | |||
Kentucky Bancshares [Member] | ||||||
Goodwill | 123,317 | 123,317 | 123,317 | |||
Balance at beginning of period | 123,317 | |||||
Balance at end of period | 123,317 | 123,317 | 123,317 | |||
King Southern Bancorp [Member] | ||||||
Goodwill | 11,831 | 11,831 | 11,831 | |||
Balance at beginning of period | 11,831 | |||||
Balance at end of period | 11,831 | 11,831 | 11,831 | |||
Austin State Bank [Member] | ||||||
Goodwill | 682 | 682 | 682 | |||
Balance at beginning of period | 682 | |||||
Balance at end of period | $ 682 | $ 682 | $ 682 |
Note 5 - Core Deposit and Cus_3
Note 5 - Core Deposit and Customer List Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2022 | Mar. 07, 2022 | May 31, 2021 | May 01, 2019 | Dec. 31, 2013 | |
Landmark Financial Advisors, LLC (LFA) [Member] | |||||
Gain (Loss) on Disposition of Business | $ (870,000) | ||||
Core Deposits [Member] | Commonwealth [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 13,000,000 | ||||
Core Deposits [Member] | Kentucky Bancshares [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 4,000,000 | ||||
Core Deposits [Member] | King Bancorp Inc. [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,000,000 | ||||
Core Deposits [Member] | THE BANCorp [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 3,000,000 | ||||
Customer Lists [Member] | Commonwealth [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 14,000,000 | ||||
Customer Lists [Member] | WM&T [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 12,000,000 | ||||
Customer Lists [Member] | Landmark Financial Advisors, LLC (LFA) [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,000,000 |
Note 5 - Core Deposit and Cus_4
Note 5 - Core Deposit and Customer List Intangible Assets - Changes in the Net Carrying Amount of Intangibles (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Amortization | $ (1,167) | $ (1,610) | $ (3,519) | $ (3,934) |
Core Deposits [Member] | ||||
Balance at beginning of period | 13,442 | 16,870 | 14,958 | 5,596 |
Core deposit intangible acquired | 0 | 0 | 0 | 12,724 |
Amortization | (749) | (956) | (2,265) | (2,406) |
Balance at end of period | 12,693 | 15,914 | 12,693 | 15,914 |
Customer Lists [Member] | ||||
Balance at beginning of period | 9,196 | 13,487 | 10,032 | 0 |
Core deposit intangible acquired | 0 | 0 | 0 | 14,360 |
Amortization | (418) | (654) | (1,254) | (1,527) |
Balance at end of period | $ 8,778 | $ 12,833 | $ 8,778 | $ 12,833 |
Note 5 - Core Deposit and Cus_5
Note 5 - Core Deposit and Customer List Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Core Deposits [Member] | ||||||
Remainder of 2023 | $ 750 | |||||
2024 | 2,686 | |||||
2025 | 2,375 | |||||
2026 | 2,063 | |||||
2027 | 1,752 | |||||
2028 | 1,339 | |||||
2029 | 888 | |||||
2030 | 576 | |||||
2031 | 264 | |||||
2032 | 0 | |||||
2033 | 0 | |||||
Total future expense | 12,693 | $ 13,442 | $ 14,958 | $ 15,914 | $ 16,870 | $ 5,596 |
Customer Lists [Member] | ||||||
Remainder of 2023 | 418 | |||||
2024 | 1,520 | |||||
2025 | 1,368 | |||||
2026 | 1,216 | |||||
2027 | 1,064 | |||||
2028 | 912 | |||||
2029 | 760 | |||||
2030 | 608 | |||||
2031 | 456 | |||||
2032 | 304 | |||||
2033 | 152 | |||||
Total future expense | $ 8,778 | $ 9,196 | $ 10,032 | $ 12,833 | $ 13,487 | $ 0 |
Note 6 - Other Assets - Summary
Note 6 - Other Assets - Summary of Major Components of Other Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Cash surrender value of life insurance other than BOLI | $ 16,575 | $ 15,496 | ||||
Net deferred tax asset | 59,110 | 54,145 | ||||
Investments in tax credit partnerships | 117,204 | 13,969 | ||||
Swap assets | 17,590 | 10,727 | ||||
Prepaid assets | 4,224 | 5,721 | ||||
Trust fees receivable | 3,781 | 3,354 | ||||
Mortgage servicing rights | 13,558 | $ 14,116 | 15,219 | $ 15,904 | $ 16,504 | $ 4,528 |
Other real estate owned | 427 | 677 | ||||
Other | 14,200 | 15,680 | ||||
Total other assets | $ 246,669 | $ 134,988 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) | 9 Months Ended |
Sep. 30, 2023 | |
Domestic Tax Authority [Member] | |
Open Tax Year | 2018 2019 2020 2021 2022 |
Note 7 - Income Taxes - Compone
Note 7 - Income Taxes - Components of Income Tax Expense (Benefit) from Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Federal | $ 7,129 | $ 9,231 | $ 20,409 | $ 12,838 |
State | 1,859 | 1,261 | 4,223 | 1,875 |
Total current income tax expense | 8,988 | 10,492 | 24,632 | 14,713 |
Federal | (1,087) | (1,922) | (1,311) | 1,542 |
State | (259) | 454 | 428 | 1,761 |
Total deferred income tax expense | (1,346) | (1,468) | (883) | 3,303 |
Change in valuation allowance | 0 | 0 | 0 | 0 |
Total income tax expense | $ 7,642 | $ 9,024 | $ 23,749 | $ 18,016 |
Note 7 - Income Taxes - Differe
Note 7 - Income Taxes - Difference Between Statutory and Effective Tax Rates (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
U.S. federal statutory income tax rate | 21% | 21% | 21% | 21% |
State income taxes, net of federal benefit | 3.30% | 3.60% | 3.40% | 3.50% |
Excess tax benefit from stock-based compensation arrangements | 0.10% | 0% | (0.30%) | (1.30%) |
Change in cash surrender value of life insurance | (0.10%) | 0% | (0.50%) | 0.60% |
Tax credits | (0.70%) | (0.50%) | (0.50%) | (0.60%) |
Tax exempt interest income | (0.50%) | (0.50%) | (0.50%) | (0.70%) |
Non-deductible merger expenses | 0% | 0% | 0% | 0.20% |
Insurance captive | (0.20%) | (0.30%) | (0.30%) | (0.30%) |
Other, net | (0.90%) | 0.70% | (0.20%) | (0.30%) |
Effective tax rate | 22% | 24% | 22.10% | 22.10% |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Interest-Bearing Domestic Deposit, Brokered | $ 591 | $ 599 |
Note 8 - Deposits - Composition
Note 8 - Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Non-interest bearing demand deposits | $ 1,714,918 | $ 1,950,198 | |
Interest bearing demand | 2,283,373 | 2,308,960 | |
Savings | 455,515 | 535,903 | |
Money market | 1,085,844 | 1,124,100 | |
Time deposits of $250 thousand or more | 229,943 | 97,638 | |
Other time deposits | 633,214 | 374,453 | |
Total time deposits (1) | [1] | 863,157 | 472,091 |
Total interest bearing deposits | 4,687,889 | 4,441,054 | |
Total deposits | $ 6,402,807 | $ 6,391,252 | |
[1]Includes $591 and $599 in brokered deposits as of September 30, 2023 and December 31, 2022, respectively. |
Note 9 - Securities Sold Unde_3
Note 9 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreements to Repurchase (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Outstanding balance at end of period | $ 113,894 | $ 113,894 | $ 133,342 | ||
Weighted average interest rate at end of period | 1.76% | 1.76% | 1.64% | ||
Average outstanding balance during the period | $ 127,063 | $ 139,749 | $ 120,740 | $ 123,845 | |
Average interest rate during the period | 1.86% | 0.50% | 1.58% | 0.27% | |
Maximum outstanding at any month end during the period | $ 127,931 | $ 139,825 | $ 138,347 | $ 149,179 |
Note 10 - Subordinated Debent_3
Note 10 - Subordinated Debentures (Details Textual) | Mar. 07, 2022 |
Commonwealth [Member] | |
Business Acquisition, Percentage of Voting Interests Acquired | 100% |
Note 10 - Subordinated Debent_4
Note 10 - Subordinated Debentures - Subordinated Notes (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Face Value | $ 26,806 |
Carrying value | 26,641 |
Commonwealth Statutory Trust III [Member] | |
Face Value | 3,093 |
Carrying value | $ 3,074 |
Commonwealth Statutory Trust III [Member] | Secured Overnight Financing Rate (SOFR) [Member] | |
Index | 2.85% |
Commonwealth Statutory Trust IV [Member] | |
Face Value | $ 12,372 |
Carrying value | $ 12,296 |
Commonwealth Statutory Trust IV [Member] | Secured Overnight Financing Rate (SOFR) [Member] | |
Index | 1.35% |
Commonwealth Statutory Trust V [Member] | |
Face Value | $ 11,341 |
Carrying value | $ 11,271 |
Commonwealth Statutory Trust V [Member] | Secured Overnight Financing Rate (SOFR) [Member] | |
Index | 1.40% |
Note 11 - FHLB Advances and O_3
Note 11 - FHLB Advances and Other Borrowings (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Aug. 07, 2023 | Feb. 06, 2023 | Dec. 31, 2022 | |
Advance from Federal Home Loan Bank | $ 350,000 | $ 50,000 | |||
Proceeds from FHLBank Advance, Investing Activities | 2,200,000 | $ 0 | |||
Payments of FHLBank Borrowings, Financing Activities | 1,900,000 | ||||
Proceeds from FHLBank Advance, Investing Activities, Net of Short Term Maturities | 700,000 | 0 | |||
Payments of FHLBank Borrowings, Financing Activities, Net of Short Term Maturities | 400,000 | $ 0 | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 1,060,000 | 1,360,000 | |||
Correspondent Banks [Member] | |||||
Federal Funds Corresponding Banks Maximum Amount Available | 80,000 | 80,000 | |||
Cash Overnight Advance [Member] | |||||
Advance from Federal Home Loan Bank | 150,000 | $ 50,000 | |||
Three Month Advance Maturing May 2023 [Member] | |||||
Advance from Federal Home Loan Bank | $ 200,000 | $ 50,000 | $ 100,000 |
Note 11 - FHLB Advances and O_4
Note 11 - FHLB Advances and Other Borrowings - Contractual Maturities and Average Effective Rates of Outstanding Advances (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Outstanding balance at end of period | $ 350,000 | $ 350,000 | $ 50,000 | ||
Weighted average interest rate at end of period | 5.51% | 5.51% | 4.37% | ||
Average outstanding balance during the period | $ 401,630 | $ 0 | $ 305,220 | $ 0 | |
Average interest rate during the period | 4.86% | 0% | 4.65% | 0% | |
Maximum outstanding at any month end during the period | $ 425,000 | $ 0 | $ 425,000 | $ 0 |
Note 12 - Commitments and Con_3
Note 12 - Commitments and Contingent Liabilities (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | $ 475,000 | $ 700,000 | $ 1,100,000 | $ 800,000 | ||
Off-Balance-Sheet, Credit Loss, Liability, Increase (Decrease) | $ 500,000 | |||||
Standby Letters of Credit [Member] | Minimum [Member] | ||||||
Guarantee Obligations, Agreement Term (Month) | 1 month | |||||
Standby Letters of Credit [Member] | Maximum [Member] | ||||||
Guarantee Obligations, Agreement Term (Month) | 2 months | |||||
Performance Guarantee [Member] | ||||||
Guarantee Obligation, Estimated Payment Under Default on Contract | 3,000,000 | $ 3,000,000 | ||||
Other Liabilities [Member] | ||||||
Off-Balance-Sheet, Credit Loss, Liability | 5,600,000 | 5,600,000 | $ 4,500,000 | |||
Tax Credit Contribution Commitments | $ 100,000,000 | $ 100,000,000 |
Note 12 - Commitments and Con_4
Note 12 - Commitments and Contingent Liabilities - Off Balance Sheet Commitments to Extend Credit (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Off balance sheet commitments to extend credit | $ 2,317,035 | $ 2,063,587 |
Commercial and Industrial Loans [Member] | ||
Off balance sheet commitments to extend credit | 906,111 | 784,429 |
Construction and Development [Member] | ||
Off balance sheet commitments to extend credit | 531,839 | 449,028 |
Home Equity Loans [Member] | ||
Off balance sheet commitments to extend credit | 375,424 | 358,610 |
Credit Cards [Member] | ||
Off balance sheet commitments to extend credit | 81,774 | 64,231 |
Overdrafts [Member] | ||
Off balance sheet commitments to extend credit | 55,252 | 57,193 |
Letters of Credit [Member] | ||
Off balance sheet commitments to extend credit | 32,883 | 34,704 |
Other Off Balance Sheet Commitments [Member] | ||
Off balance sheet commitments to extend credit | 94,516 | 93,419 |
Future Loan Commitments [Member] | ||
Off balance sheet commitments to extend credit | $ 239,236 | $ 221,973 |
Note 13 - Assets and Liabilit_3
Note 13 - Assets and Liabilities Measured and Reported at Fair Value (Details Textual) $ in Thousands | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Fair Value, Nonrecurring [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Selling and Closing Costs [Member] | Minimum [Member] | ||
Impaired Loans, Measurement Input | 0.08 | |
Other Real Estate Owned, Measurement Input | 0.08 | |
Selling and Closing Costs [Member] | Maximum [Member] | ||
Impaired Loans, Measurement Input | 0.10 | |
Other Real Estate Owned, Measurement Input | 0.10 |
Note 13 - Assets and Liabilit_4
Note 13 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities available-for-sale | $ 1,020,248 | $ 1,144,617 |
Derivative | 17,590 | 10,727 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 109,233 | 143,626 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale | 672,666 | 752,738 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 116,891 | 127,599 |
Other Debt Obligations [Member] | ||
Securities available-for-sale | 3,449 | 5,615 |
Fair Value, Recurring [Member] | ||
Securities available-for-sale | 1,020,248 | 1,144,617 |
Mortgage loans held for sale | 6,535 | 2,606 |
Interest rate swap assets | 17,590 | 10,727 |
Total assets | 1,044,685 | 1,158,134 |
Interest rate swap liabilities | 11,929 | 10,737 |
Fair Value, Recurring [Member] | Rate Lock Loan Commitments [Member] | ||
Derivative | 202 | 137 |
Fair Value, Recurring [Member] | Mandatory Forward Contract [Member] | ||
Derivative | 110 | 47 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 118,009 | 115,039 |
Mortgage loans held for sale | 0 | 0 |
Interest rate swap assets | 0 | 0 |
Total assets | 118,009 | 115,039 |
Interest rate swap liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Rate Lock Loan Commitments [Member] | ||
Derivative | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mandatory Forward Contract [Member] | ||
Derivative | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 902,239 | 1,029,578 |
Mortgage loans held for sale | 6,535 | 2,606 |
Interest rate swap assets | 17,590 | 10,727 |
Total assets | 926,676 | 1,043,095 |
Interest rate swap liabilities | 11,929 | 10,737 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Rate Lock Loan Commitments [Member] | ||
Derivative | 202 | 137 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mandatory Forward Contract [Member] | ||
Derivative | 110 | 47 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Interest rate swap assets | 0 | 0 |
Total assets | 0 | 0 |
Interest rate swap liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Rate Lock Loan Commitments [Member] | ||
Derivative | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mandatory Forward Contract [Member] | ||
Derivative | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | ||
Securities available-for-sale | 118,009 | 115,039 |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 118,009 | 115,039 |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 109,233 | 143,626 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 109,233 | 143,626 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale | 672,666 | 752,738 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 672,666 | 752,738 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 116,891 | 127,599 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 116,891 | 127,599 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | ||
Securities available-for-sale | 3,449 | 5,615 |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 3,449 | 5,615 |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | $ 0 | $ 0 |
Note 13 - Assets and Liabilit_5
Note 13 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Other real estate owned, gain (loss) | $ (250) | $ (5) | ||
Fair Value, Nonrecurring [Member] | ||||
Collateral dependent loans, fair value | $ 0 | 0 | $ 0 | |
Collateral dependent loans | 1,377 | 1,377 | 377 | |
Other real estate owned, fair value | 0 | 0 | 0 | |
Other real estate owned, gain (loss) | 250 | 250 | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Collateral dependent loans, fair value | 0 | 0 | 0 | |
Other real estate owned, fair value | 0 | 0 | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Collateral dependent loans, fair value | 12,141 | 12,141 | 20,637 | |
Other real estate owned, fair value | 427 | 427 | 677 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Collateral dependent loans, fair value | 12,141 | 12,141 | 20,637 | |
Other real estate owned, fair value | $ 427 | $ 427 | $ 677 |
Note 13 - Assets and Liabilit_6
Note 13 - Assets and Liabilities Measured and Reported at Fair Value - Significant Unobservable Inputs (Details) - Appraisal Discount Method [Member] - Fair Value, Inputs, Level 3 [Member] - Impaired Loans [Member] $ in Thousands | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Collateral dependent loans, fair value | $ 12,141 | $ 20,637 |
Other real estate owned, fair value | $ 427 | $ 677 |
Weighted Average [Member] | ||
Impaired Loans, Measurement Input | 0.212 | 0.233 |
Other Real Estate Owned, Measurement Input | 0.783 | 0.656 |
Note 14 - Disclosure of Finan_3
Note 14 - Disclosure of Financial Instruments Not Reported at Fair Value - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Cash and cash equivalents | $ 193,037 | $ 167,367 | |
Accrued interest receivable | 23,777 | 22,157 | |
Non-interest bearing deposits | 1,714,918 | 1,950,198 | |
Time deposits | [1] | 863,157 | 472,091 |
Accrued interest payable | 1,836 | 660 | |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 193,037 | 167,367 | |
HTM debt securities | 445,205 | 473,217 | |
Federal Home Loan Bank stock | 26,241 | 10,928 | |
Loans, net | 5,539,009 | 5,132,387 | |
Accrued interest receivable | 23,777 | 22,157 | |
Non-interest bearing deposits | 1,714,918 | 1,950,198 | |
Transaction deposits | 3,824,732 | 3,968,963 | |
Time deposits | 863,157 | 472,091 | |
Securities sold under agreement to repurchase | 113,894 | 133,342 | |
Federal funds purchased | 11,518 | 8,789 | |
Subordinated debentures | 26,641 | 26,343 | |
FHLB advances | 350,000 | 50,000 | |
Accrued interest payable | 1,836 | 660 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 193,037 | 167,367 | |
HTM debt securities | 397,418 | 431,833 | |
Federal Home Loan Bank stock | 26,241 | 10,928 | |
Loans, net | 5,263,127 | 4,914,770 | |
Accrued interest receivable | 23,777 | 22,157 | |
Non-interest bearing deposits | 1,714,918 | 1,950,198 | |
Transaction deposits | 3,824,732 | 3,968,963 | |
Time deposits | 852,693 | 459,467 | |
Securities sold under agreement to repurchase | 113,894 | 133,342 | |
Federal funds purchased | 11,518 | 8,789 | |
Subordinated debentures | 25,988 | 26,460 | |
FHLB advances | 345,101 | 50,000 | |
Accrued interest payable | 1,836 | 660 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 193,037 | 167,367 | |
HTM debt securities | 0 | 0 | |
Federal Home Loan Bank stock | 0 | 0 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 23,777 | 22,157 | |
Non-interest bearing deposits | 1,714,918 | 1,950,198 | |
Transaction deposits | 0 | 0 | |
Time deposits | 0 | 0 | |
Securities sold under agreement to repurchase | 0 | 0 | |
Federal funds purchased | 0 | 0 | |
Subordinated debentures | 0 | 0 | |
FHLB advances | 0 | 0 | |
Accrued interest payable | 1,836 | 660 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
HTM debt securities | 397,418 | 431,833 | |
Federal Home Loan Bank stock | 26,241 | 10,928 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Non-interest bearing deposits | 0 | 0 | |
Transaction deposits | 3,824,732 | 3,968,963 | |
Time deposits | 852,693 | 459,467 | |
Securities sold under agreement to repurchase | 113,894 | 133,342 | |
Federal funds purchased | 11,518 | 8,789 | |
Subordinated debentures | 25,988 | 26,460 | |
FHLB advances | 345,101 | 50,000 | |
Accrued interest payable | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
HTM debt securities | 0 | 0 | |
Federal Home Loan Bank stock | 0 | 0 | |
Loans, net | 5,263,127 | 4,914,770 | |
Accrued interest receivable | 0 | 0 | |
Non-interest bearing deposits | 0 | 0 | |
Transaction deposits | 0 | 0 | |
Time deposits | 0 | 0 | |
Securities sold under agreement to repurchase | 0 | 0 | |
Federal funds purchased | 0 | 0 | |
Subordinated debentures | 0 | 0 | |
FHLB advances | 0 | 0 | |
Accrued interest payable | $ 0 | $ 0 | |
[1]Includes $591 and $599 in brokered deposits as of September 30, 2023 and December 31, 2022, respectively. |
Note 15 - Mortgage Banking Ac_3
Note 15 - Mortgage Banking Activities (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Mar. 07, 2022 |
Loan, Managed and Securitized or Asset-Backed Financing Arrangement, Principal Outstanding | $ 1,960,000 | $ 2,080,000 | |
Commonwealth [Member] | |||
Loan, Managed and Securitized or Asset-Backed Financing Arrangement, Principal Outstanding | $ 1,480,000 | ||
Mortgage Servicing Rights [Member] | |||
Servicing Asset at Fair Value, Amount | 26,000 | 26,000 | |
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance, Ending Balance | $ 0 | $ 0 | |
Mortgage Servicing Rights [Member] | Commonwealth [Member] | |||
Servicing Asset at Fair Value, Amount | $ 13,000 |
Note 15 - Mortgage Banking Ac_4
Note 15 - Mortgage Banking Activities - Activity in Mortgage Loans Held for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Balance, beginning of period: | $ 7,069 | $ 10,045 | $ 2,606 | $ 8,614 |
Origination of mortgage loans held for sale | 30,775 | 31,446 | 86,100 | 111,026 |
Loans held for sale acquired | 0 | 0 | 0 | 3,559 |
Proceeds from the sale of mortgage loans held for sale | (31,814) | (36,427) | (83,422) | (118,639) |
Net gain realized on sale of mortgage loans held for sale | 505 | 166 | 1,251 | 670 |
Balance, end of period | $ 6,535 | $ 5,230 | $ 6,535 | $ 5,230 |
Note 15 - Mortgage Banking Ac_5
Note 15 - Mortgage Banking Activities - Mortgage Banking Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net gain realized on sale of mortgage loans held for sale | $ 505 | $ 166 | $ 1,251 | $ 670 |
Net change in fair value recognized on loans held for sale | (81) | (113) | (65) | (70) |
Net change in fair value recognized on rate lock loan commitments | (186) | 134 | 40 | 1,324 |
Net gain recognized | 452 | 288 | 1,566 | 1,390 |
Net loan servicing income | 1,031 | 1,172 | 3,338 | 3,089 |
Amortization | (822) | (869) | (2,345) | (2,206) |
Change in mortgage servicing rights valuation allowance | 0 | 0 | 0 | 0 |
Net servicing income recognized | 209 | 303 | 993 | 883 |
Other mortgage banking income | 153 | 112 | 323 | 728 |
Total mortgage banking income | 814 | 703 | 2,882 | 3,001 |
Foreign Exchange Forward [Member] | ||||
Net change in fair value recognized on forward contracts | $ 214 | $ 101 | $ 340 | $ (534) |
Note 15 - Mortgage Banking Ac_6
Note 15 - Mortgage Banking Activities - Changes in the Net Carrying Amount of MSRs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Balance at beginning of period | $ 14,116 | $ 16,504 | $ 15,219 | $ 4,528 |
MSRs acquired | 0 | 0 | 0 | 12,676 |
Additions for mortgage loans sold | 264 | 269 | 684 | 906 |
Amortization | (822) | (869) | (2,345) | (2,206) |
Impairment | 0 | 0 | 0 | 0 |
Balance at end of period | $ 13,558 | $ 15,904 | $ 13,558 | $ 15,904 |
Note 15 - Mortgage Banking Ac_7
Note 15 - Mortgage Banking Activities - Notional Amounts and Fair Values (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Mortgage loans held for sale, at fair value | $ 6,542 | $ 2,548 |
Mortgage loans held for sale, at fair value | 6,535 | 2,606 |
Derivative assets | 17,590 | 10,727 |
Other Assets [Member] | Rate Lock Loan Commitments [Member] | ||
Derivative, notional amount | 7,632 | 5,599 |
Derivative assets | 202 | 137 |
Other Assets [Member] | Mandatory Forward Contract [Member] | ||
Derivative, notional amount | 8,038 | 6,581 |
Derivative assets | $ 110 | $ 47 |
Note 16 - Accumulated Other C_3
Note 16 - Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Balance, beginning of period | $ 760,432 | |||
Balance, end of period | $ 806,918 | 806,918 | ||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||
Balance, beginning of period | (109,741) | $ (87,054) | (115,648) | $ (7,657) |
Net current period other comprehensive income (loss) | (22,586) | (40,580) | (16,679) | (119,977) |
Balance, end of period | (132,327) | (127,634) | (132,327) | (127,634) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Balance, beginning of period | 2,213 | 0 | 0 | 0 |
Net current period other comprehensive income (loss) | 2,097 | 0 | 4,310 | 0 |
Balance, end of period | 4,310 | 0 | 4,310 | 0 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Balance, beginning of period | 112 | (283) | 112 | (283) |
Net current period other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Balance, end of period | 112 | (283) | 112 | (283) |
AOCI Attributable to Parent [Member] | ||||
Balance, beginning of period | (107,416) | (87,337) | (115,536) | (7,940) |
Net current period other comprehensive income (loss) | (20,489) | (40,580) | (12,369) | (119,977) |
Balance, end of period | $ (127,905) | $ (127,917) | $ (127,905) | $ (127,917) |
Note 17 - Preferred Stock (Deta
Note 17 - Preferred Stock (Details Textual) - $ / shares $ / shares in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Preferred Stock, No Par Value (in dollars per share) | $ 0 | $ 0 |
Preferred Stock, Shares Authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 |
Note 18 - Net Income Per Shar_2
Note 18 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income available to stockholders | $ 27,092 | $ 28,455 | $ 83,804 | $ 63,155 |
Weighted average shares outstanding - basic (in shares) | 29,223 | 29,144 | 29,208 | 28,509 |
Dilutive securities (in shares) | 113 | 260 | 139 | 243 |
Weighted average shares outstanding- diluted (in shares) | 29,336 | 29,404 | 29,347 | 28,752 |
Net income per common share - basic (in dollars per share) | $ 0.93 | $ 0.98 | $ 2.87 | $ 2.22 |
Net income per common share - diluted (in dollars per share) | $ 0.92 | $ 0.97 | $ 2.86 | $ 2.2 |
Note 18 - Net Income Per Shar_3
Note 18 - Net Income Per Share - Antidilutive SARs (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Stock Appreciation Rights (SARs) [Member] | ||||
Antidilutive SARs (in shares) | 94 | 0 | 79 | 0 |
Note 19 - Stock-based Compens_3
Note 19 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 500,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 142,000 | |||||
Proceeds (Used for) and Received from Settlement of Stock Awards | $ 175,000 | $ 233,000 | ||||
Stock Appreciation Rights (SARs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 29,000 | 34,000 | ||||
Stock Appreciation Rights (SARs) [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20% | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 38 | 35 | ||||
Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||
Sharebased Compensation Arrangement by Share-based Payment Award Post Vesting Holding Period (Year) | 1 year | |||||
Share-based Compensation Arrangement by Share-based Payment Award Liquidity Discount | 5.20% | 5.80% | ||||
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 12 months | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 8,668 | 5,410 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value Granted | $ 550,000 | $ 350,000 |
Note 19 - Stock-based Compens_4
Note 19 - Stock-based Compensation - Fair Value Assumptions (Details) - Stock Appreciation Rights (SARs) [Member] | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Dividend yield | 2.24% | 2.38% |
Expected volatility | 27.20% | 25.43% |
Risk free interest rate | 3.84% | 1.98% |
Expected life (in years) (Year) | 7 years 1 month 6 days | 7 years 1 month 6 days |
Note 19 - Stock-based Compens_5
Note 19 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Expense | $ 1,032 | $ 1,237 | $ 3,219 | $ 3,285 |
Deferred tax benefit | (216) | (259) | (676) | (690) |
Total net expense | 816 | 978 | 2,543 | 2,595 |
Stock Appreciation Rights (SARs) [Member] | ||||
Expense | 105 | 94 | 310 | 282 |
Deferred tax benefit | (22) | (20) | (65) | (59) |
Total net expense | 83 | 74 | 245 | 223 |
Restricted Stock [Member] | ||||
Expense | 399 | 346 | 1,204 | 1,028 |
Deferred tax benefit | (84) | (72) | (253) | (216) |
Total net expense | 315 | 274 | 951 | 812 |
Restricted Stock Units (RSUs) [Member] | ||||
Expense | 126 | 80 | 392 | 252 |
Deferred tax benefit | (26) | (17) | (82) | (53) |
Total net expense | 100 | 63 | 310 | 199 |
Performance Shares [Member] | ||||
Expense | 402 | 717 | 1,313 | 1,723 |
Deferred tax benefit | (84) | (150) | (276) | (362) |
Total net expense | $ 318 | $ 567 | $ 1,037 | $ 1,361 |
Note 19 - Stock-based Compens_6
Note 19 - Stock-based Compensation - Unrecognized Stock-based Compensation Expense (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Remainder of 2023 | $ 1,016 |
2024 | 2,603 |
2025 | 1,896 |
2026 | 1,049 |
2027 | 615 |
2028 | 54 |
Total estimated future expense | 7,233 |
Stock Appreciation Rights (SARs) [Member] | |
Remainder of 2023 | 91 |
2024 | 307 |
2025 | 248 |
2026 | 190 |
2027 | 111 |
2028 | 12 |
Total estimated future expense | 959 |
Restricted Stock [Member] | |
Remainder of 2023 | 398 |
2024 | 1,385 |
2025 | 1,163 |
2026 | 859 |
2027 | 504 |
2028 | 42 |
Total estimated future expense | 4,351 |
Restricted Stock Units (RSUs) [Member] | |
Remainder of 2023 | 125 |
2024 | 3 |
2025 | 0 |
2026 | 0 |
2027 | 0 |
2028 | 0 |
Total estimated future expense | 128 |
Performance Shares [Member] | |
Remainder of 2023 | 402 |
2024 | 908 |
2025 | 485 |
2026 | 0 |
2027 | 0 |
2028 | 0 |
Total estimated future expense | $ 1,795 |
Note 19 - Stock-based Compens_7
Note 19 - Stock-based Compensation - SARs Activity (Details) - Stock Appreciation Rights (SARs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Unvested (in shares) | 435 | 515 | ||
Outstanding, aggregate intrinsic value | [1] | $ 2,529 | $ 12,784 | $ 16,854 |
Unvested, grant date weighted average cost (in dollars per share) | $ 6.02 | $ 5.08 | ||
Outstanding, weighted average remaining contractual life (Year) | 4 years 8 months 12 days | 5 years 1 month 6 days | 5 years 1 month 6 days | |
Awarded (in shares) | 29 | 34 | ||
Granted, aggregate intrinsic value | [1] | $ 0 | $ 0 | |
Fair value at grant date (in dollars per share) | $ 16.81 | $ 12.07 | ||
Exercised (in shares) | 0 | (114) | ||
Exercised, aggregate intrinsic value | [1] | $ 0 | $ 5,258 | |
Exercised weighted average fair value (in dollars per share) | $ 0 | $ 3.63 | ||
Forfeited (in shares) | 0 | 0 | ||
Unvested (in shares) | 464 | 435 | 515 | |
Unvested, grant date weighted average cost (in dollars per share) | $ 6.69 | $ 6.02 | $ 5.08 | |
Vested and exercisable (in shares) | 349 | |||
Vested and exercisable, aggregate intrinsic value | [1] | $ 3,743 | ||
Vested and exercisable, weighted average fair value (in dollars per share) | $ 5.36 | |||
Vested and exercisable, weighted average remaining contractual life (Year) | 3 years 9 months 18 days | |||
Unvested (in shares) | 115 | |||
Unvested, aggregate intrinsic value | [1] | $ (1,214) | ||
Unvested, weighted average fair value (in dollars per share) | $ 10.72 | |||
Unvested, weighted average remaining contractual life (Year) | 3 years 6 months | |||
Vested in the current year (in shares) | 42 | |||
Vested in the current year, aggregate intrinsic value | [1] | $ (100) | ||
Vested in the current year (in dollars per share) | $ 7.62 | |||
Minimum [Member] | ||||
Outstanding, exercise price (in dollars per share) | 19.37 | 15.24 | ||
Granted, exercise price (in dollars per share) | 60.76 | 47.17 | ||
Exercised, exercise price (in dollars per share) | 15.24 | |||
Outstanding, exercise price (in dollars per share) | 19.37 | 19.37 | 15.24 | |
Vested and exercisable, exercise price (in dollars per share) | 19.37 | |||
Unvested, exercise price (in dollars per share) | 35.9 | |||
Vested in the current year, exercise price (in dollars per share) | 35.9 | |||
Maximum [Member] | ||||
Outstanding, exercise price (in dollars per share) | 74.92 | 50.71 | ||
Granted, exercise price (in dollars per share) | 60.76 | 74.92 | ||
Exercised, exercise price (in dollars per share) | 40 | |||
Outstanding, exercise price (in dollars per share) | 74.92 | 74.92 | 50.71 | |
Vested and exercisable, exercise price (in dollars per share) | 54.91 | |||
Unvested, exercise price (in dollars per share) | 74.92 | |||
Vested in the current year, exercise price (in dollars per share) | 54.91 | |||
Weighted Average [Member] | ||||
Outstanding, exercise price (in dollars per share) | 35.6 | 31.16 | ||
Granted, exercise price (in dollars per share) | 60.76 | 55.45 | ||
Exercised, exercise price (in dollars per share) | 0 | 21.55 | ||
Outstanding, exercise price (in dollars per share) | 37.17 | $ 35.6 | $ 31.16 | |
Vested and exercisable, exercise price (in dollars per share) | 32.99 | |||
Unvested, exercise price (in dollars per share) | 49.83 | |||
Vested in the current year, exercise price (in dollars per share) | $ 41.69 | |||
[1]Aggregate intrinsic value for SARs is defined as the amount by which the current market price of the underlying stock exceeds the exercise or grant price. |
Note 19 - Stock-based Compens_8
Note 19 - Stock-based Compensation - Restricted Stock (Details) - Restricted Stock [Member] - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Unvested (in shares) | 96 | 99 |
Unvested, grant date weighted average cost (in dollars per share) | $ 47,260 | $ 41,070 |
Awarded (in shares) | 38 | 35 |
Fair value at grant date (in dollars per share) | $ 63,040 | $ 58,470 |
Restrictions lapsed and shares released (in shares) | (32) | (32) |
Restrictions lapsed and shares released, grant date weighted average cost (in dollars per share) | $ 43,870 | $ 40,390 |
Forfeited (in shares) | (3) | (6) |
Shares forfeited, grant date weighted average cost (in dollars per share) | $ 53,330 | $ 47,490 |
Unvested (in shares) | 99 | 96 |
Unvested, grant date weighted average cost (in dollars per share) | $ 54,170 | $ 47,260 |
Note 19 - Stock-based Compens_9
Note 19 - Stock-based Compensation - Performance-based Restricted Stock Units (Details) - $ / shares | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Expected shares to be awarded (in shares) | 142,000 | ||
Performance Shares [Member] | |||
Vesting period (Year) | 3 years | ||
Performance Shares [Member] | Executive Officer [Member] | |||
Vesting period (Year) | 3 years | 3 years | 3 years |
Fair value at grant date (in dollars per share) | $ 54.33 | $ 48.48 | $ 44.44 |
Expected shares to be awarded (in shares) | 26,804 | 36,349 | 47,280 |
Note 20 - Derivative Financia_3
Note 20 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions | Sep. 30, 2023 | Aug. 07, 2023 | Feb. 06, 2023 | Dec. 31, 2022 |
Advance from Federal Home Loan Bank | $ 350 | $ 50 | ||
Three Month Advance Maturing May 2023 [Member] | ||||
Advance from Federal Home Loan Bank | $ 200 | $ 50 | $ 100 |
Note 20 - Derivative Financia_4
Note 20 - Derivative Financial Instruments - Outstanding Undesignated Interest Rate Swap Contracts (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Receiving [Member] | ||
Notional amount | $ 169,054 | $ 132,831 |
Weighted average maturity (Year) | 6 years | 7 years 1 month 6 days |
Fair value | $ 11,920 | $ 10,727 |
Paying [Member] | ||
Notional amount | $ 169,054 | $ 132,831 |
Weighted average maturity (Year) | 6 years | 7 years 1 month 6 days |
Fair value | $ 11,929 | $ 10,737 |
Note 20 - Derivative Financia_5
Note 20 - Derivative Financial Instruments - Derivative Position Designated as Cash Flow Hedge (Details) - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Interest Rate Swap [Member] | |
Notional Amount | $ 100,000,000 |
Maturity Date | Feb. 06, 2028 |
Fixed rate | 3.27% |
Fair value | $ 4,520 |
Interest Rate Swap Maturing August 6, 2026 [Member] | |
Notional Amount | $ 50,000,000 |
Maturity Date | Aug. 06, 2026 |
Fixed rate | 4.38% |
Fair value | $ 344 |
Interest Rate Swap Maturing August 6, 2028 [Member] | |
Notional Amount | $ 50,000,000 |
Maturity Date | Aug. 06, 2028 |
Fixed rate | 3.97% |
Fair value | $ 806 |
Note 21 - Regulatory Matters (D
Note 21 - Regulatory Matters (Details Textual) $ in Thousands | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Mar. 07, 2022 | ||
Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum | 0.025 | ||||
Common Equity Tier One Risk Based Capital, Required to Be Well Capitalized to Risk Weighted Assets Including Capital Conservation Buffer | 7% | ||||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets Including Capital Conservation Buffer | 8.50% | ||||
Capital Required for Capital Adequacy to Risk Weighted Assets Including Capital Conservation Buffer | 10.50% | ||||
Subordinated Debt, Ending Balance | $ 26,641 | $ 26,343 | |||
Commonwealth [Member] | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | ||||
Subordinated Debt, Ending Balance | $ 26,000 | ||||
Commonwealth Statutory Trust III [Member] | Commonwealth [Member] | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | ||||
Commonwealth Statutory Trust IV [Member] | Commonwealth [Member] | |||||
Business Combination, Unconsolidated Trust Subsidiaries Acquired, Percent | 100% | ||||
Commonwealth Statutory Trust V [Member] | Commonwealth [Member] | |||||
Business Combination, Unconsolidated Trust Subsidiaries Acquired, Percent | 100% | ||||
Subsidiaries [Member] | |||||
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum | 0.065 | [1] | 0.065 | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | [1] | 0.08 | 0.08 | ||
Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum | [1] | 0.10 | 0.10 | ||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.05 | 0.05 | |||
[1]Ratio is computed in relation to risk-weighted assets. |
Note 21 - Regulatory Matters -
Note 21 - Regulatory Matters - Risk Based Capital Amounts and Ratios (Details) $ in Thousands | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | ||
Total risk-based capital, actual amount | [1] | $ 831,296 | $ 762,956 | |
Total risk-based capital, actual ratio | [1] | 0.1271 | 0.1254 | |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 523,065 | $ 486,841 | |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 0.08 | 0.08 | |
Common Equity Tier 1 risk-based capital, actual amount | $ 730,410 | [1] | $ 672,045 | |
Common Equity Tier 1 risk-based capital, actual ratio | 0.1117 | [1] | 0.1104 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 294,224 | [1] | $ 273,848 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | 0.045 | [1] | 0.045 | |
Tier 1 risk-based capital, actual amount | [1] | $ 756,410 | $ 698,045 | |
Tier 1 risk-based capita, actual ratio | [1] | 0.1157 | 0.1147 | |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 392,298 | $ 365,131 | |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 0.06 | 0.06 | |
Leverage, actual ratio | 0.098 | 0.0933 | ||
Leverage, minimum for adequately capitalized amount | $ 308,622 | $ 299,329 | ||
Leverage, minimum for adequately capitalized ratio | 0.04 | [1] | 0.04 | |
Leverage, actual amount | $ 698,045 | |||
Subsidiaries [Member] | ||||
Total risk-based capital, actual amount | [1] | $ 805,791 | $ 732,688 | |
Total risk-based capital, actual ratio | [1] | 0.1237 | 0.1208 | |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 521,313 | $ 485,314 | |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 0.08 | 0.08 | |
Total risk-based capital, minimum for well capitalized amount | [1] | $ 651,641 | $ 606,643 | |
Total risk-based capital, minimum for well capitalized ratio | [1] | 0.10 | 0.10 | |
Common Equity Tier 1 risk-based capital, actual amount | $ 730,905 | [1] | $ 667,777 | |
Common Equity Tier 1 risk-based capital, actual ratio | 0.1122 | [1] | 0.1101 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 293,239 | [1] | $ 272,989 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | 0.045 | [1] | 0.045 | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized amount | $ 423,567 | [1] | $ 394,318 | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | 0.065 | [1] | 0.065 | |
Tier 1 risk-based capital, actual amount | [1] | $ 730,905 | $ 667,777 | |
Tier 1 risk-based capita, actual ratio | [1] | 0.1122 | 0.1101 | |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 390,985 | $ 363,986 | |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 0.06 | 0.06 | |
Tier 1 risk-based capital, minimum for well capitalized amount | [1] | $ 521,313 | $ 485,314 | |
Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | 0.08 | 0.08 | |
Leverage, actual ratio | 0.0949 | 0.0895 | ||
Leverage, minimum for adequately capitalized amount | $ 308,176 | $ 298,600 | ||
Leverage, minimum for adequately capitalized ratio | 0.04 | 0.04 | ||
Leverage, actual amount | $ 730,905 | $ 667,777 | ||
Leverage, minimum for well capitalized amount | $ 385,221 | $ 373,250 | ||
Leverage, minimum for well capitalized ratio | 0.05 | 0.05 | ||
[1]Ratio is computed in relation to risk-weighted assets. |
Note 22 - Segments (Details Tex
Note 22 - Segments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Mar. 07, 2022 | Dec. 31, 2021 | |
Goodwill | $ 194,074 | $ 202,524 | $ 194,074 | $ 202,524 | $ 194,074 | $ 194,074 | $ 202,524 | $ 135,830 | |
Goodwill, Written off Related to Sale of Business Unit | 0 | $ 0 | 0 | $ 0 | |||||
Landmark Financial Advisors, LLC (LFA) [Member] | |||||||||
Goodwill, Written off Related to Sale of Business Unit | 8,500 | ||||||||
Commonwealth [Member] | |||||||||
Goodwill | 58,244 | 58,244 | 58,244 | $ 67,000 | |||||
Commercial Banking [Member] | |||||||||
Goodwill | 172,000 | 172,000 | 172,000 | ||||||
WM&T [Member] | |||||||||
Goodwill | 22,000 | 22,000 | 22,000 | ||||||
Operating Segments [Member] | Commercial Banking [Member] | |||||||||
Goodwill | 172,000 | 172,000 | |||||||
Operating Segments [Member] | WM&T [Member] | |||||||||
Goodwill | $ 22,000 | $ 22,000 | |||||||
Operating Segments [Member] | WM&T [Member] | Landmark Financial Advisors, LLC (LFA) [Member] | |||||||||
Goodwill, Written off Related to Sale of Business Unit | $ 8,500 | ||||||||
Operating Segments [Member] | WM&T [Member] | Commonwealth [Member] | |||||||||
Goodwill | $ 67,000 |
Note 22 - Segments - Financial
Note 22 - Segments - Financial Information by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Net interest income | $ 61,315 | $ 62,376 | $ 185,316 | $ 168,120 | |||||
Provision for credit losses | 2,775 | 4,803 | 7,750 | 6,882 | |||||
All other non-interest income | 12,866 | 15,712 | 38,100 | 39,117 | |||||
Non-interest expenses | 46,702 | 44,873 | 137,816 | 145,845 | |||||
Income before income tax expense | 34,734 | 37,564 | 107,553 | 81,400 | |||||
Income tax expense | 7,642 | 9,024 | 23,749 | 18,016 | |||||
Net income | 27,092 | $ 27,664 | $ 29,048 | 28,540 | $ 26,902 | $ 7,942 | 83,804 | 63,384 | |
Less net income attributed to NCI | 0 | 85 | 0 | 229 | |||||
Net income available to stockholders | 27,092 | 28,455 | 83,804 | 63,155 | |||||
Segment assets | 7,903,430 | 7,554,210 | 7,903,430 | 7,554,210 | $ 7,496,261 | ||||
Fiduciary and Trust [Member] | |||||||||
Wealth management and trust services | 10,030 | 9,152 | 29,703 | 26,890 | |||||
Commercial Banking [Member] | |||||||||
Net interest income | 61,155 | 62,270 | 184,895 | 167,811 | |||||
Provision for credit losses | 2,775 | 4,803 | 7,750 | 6,882 | |||||
All other non-interest income | 12,866 | 15,712 | 38,100 | 39,117 | |||||
Non-interest expenses | 41,788 | 39,370 | 121,265 | 129,936 | |||||
Income before income tax expense | 29,458 | 33,809 | 93,980 | 70,110 | |||||
Income tax expense | 6,497 | 8,209 | 20,804 | 15,566 | |||||
Net income | 22,961 | 25,600 | 73,176 | 54,544 | |||||
Less net income attributed to NCI | 0 | 85 | 0 | 229 | |||||
Net income available to stockholders | 22,961 | 25,515 | 73,176 | 54,315 | |||||
Segment assets | 7,867,626 | 7,522,113 | 7,867,626 | 7,522,113 | |||||
Commercial Banking [Member] | Fiduciary and Trust [Member] | |||||||||
Wealth management and trust services | 0 | 0 | 0 | 0 | |||||
Investment Management and Trust [Member] | |||||||||
Net interest income | 160 | 106 | 421 | 309 | |||||
Provision for credit losses | 0 | 0 | 0 | 0 | |||||
All other non-interest income | 0 | 0 | 0 | 0 | |||||
Non-interest expenses | 4,914 | 5,503 | 16,551 | 15,909 | |||||
Income before income tax expense | 5,276 | 3,755 | 13,573 | 11,290 | |||||
Income tax expense | 1,145 | 815 | 2,945 | 2,450 | |||||
Net income | 4,131 | 2,940 | 10,628 | 8,840 | |||||
Less net income attributed to NCI | 0 | 0 | 0 | 0 | |||||
Net income available to stockholders | 4,131 | 2,940 | 10,628 | 8,840 | |||||
Segment assets | 35,804 | 32,097 | 35,804 | 32,097 | |||||
Investment Management and Trust [Member] | Fiduciary and Trust [Member] | |||||||||
Wealth management and trust services | $ 10,030 | $ 9,152 | $ 29,703 | $ 26,890 |
Note 23 - Revenue From Contra_3
Note 23 - Revenue From Contracts With Customers (Details Textual) - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Trading Activity Charges Reducing Product Sales Commissions and Fees | $ 663,000 | $ 620,000 | |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 0 | ||
Contract with Customer, Liability, Total | 0 | ||
Fiduciary and Trust [Member] | |||
Accrued Fees and Other Revenue Receivable | $ 3,800,000 | $ 3,400,000 |
Note 23 - Revenue From Contra_4
Note 23 - Revenue From Contracts With Customers - Revenue by Operating Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | ||
Mortgage banking income | [1] | $ 814 | $ 703 | $ 2,882 | $ 3,001 |
Bank owned life insurance | [1] | 569 | 516 | 1,677 | 1,052 |
Gain (loss) on sale of premises and equipment | [1] | 302 | 3,074 | 75 | 3,046 |
Other | [2] | 613 | 1,417 | 2,933 | 3,796 |
Non-interest income | 22,896 | 24,864 | 67,803 | 66,007 | |
Commercial Banking [Member] | |||||
Mortgage banking income | [1] | 814 | 703 | 2,882 | 3,001 |
Bank owned life insurance | [1] | 569 | 516 | 1,677 | 1,052 |
Gain (loss) on sale of premises and equipment | [1] | 302 | 3,074 | 75 | 3,046 |
Other | [2] | 613 | 1,417 | 2,933 | 3,796 |
Non-interest income | 12,866 | 15,712 | 38,100 | 39,117 | |
WM&T [Member] | |||||
Mortgage banking income | [1] | 0 | 0 | 0 | 0 |
Bank owned life insurance | [1] | 0 | 0 | 0 | 0 |
Gain (loss) on sale of premises and equipment | [1] | 0 | 0 | 0 | 0 |
Other | [2] | 0 | 0 | 0 | 0 |
Non-interest income | 10,030 | 9,152 | 29,703 | 26,890 | |
Fiduciary and Trust [Member] | |||||
Non-interest income | 10,030 | 9,152 | 29,703 | 26,890 | |
Fiduciary and Trust [Member] | Commercial Banking [Member] | |||||
Non-interest income | 0 | 0 | 0 | 0 | |
Fiduciary and Trust [Member] | WM&T [Member] | |||||
Non-interest income | 10,030 | 9,152 | 29,703 | 26,890 | |
Deposit Account [Member] | |||||
Non-interest income | 2,272 | 2,179 | 6,622 | 6,103 | |
Deposit Account [Member] | Commercial Banking [Member] | |||||
Non-interest income | 2,272 | 2,179 | 6,622 | 6,103 | |
Deposit Account [Member] | WM&T [Member] | |||||
Non-interest income | 0 | 0 | 0 | 0 | |
Credit and Debit Card [Member] | |||||
Non-interest income | 4,870 | 4,710 | 14,064 | 13,577 | |
Credit and Debit Card [Member] | Commercial Banking [Member] | |||||
Non-interest income | 4,870 | 4,710 | 14,064 | 13,577 | |
Credit and Debit Card [Member] | WM&T [Member] | |||||
Non-interest income | 0 | 0 | 0 | 0 | |
Treasury Management [Member] | |||||
Non-interest income | 2,635 | 2,221 | 7,502 | 6,312 | |
Treasury Management [Member] | Commercial Banking [Member] | |||||
Non-interest income | 2,635 | 2,221 | 7,502 | 6,312 | |
Treasury Management [Member] | WM&T [Member] | |||||
Non-interest income | 0 | 0 | 0 | 0 | |
Product Sales Commissions and Fees [Member] | |||||
Non-interest income | 791 | 892 | 2,345 | 2,230 | |
Product Sales Commissions and Fees [Member] | Commercial Banking [Member] | |||||
Non-interest income | 791 | 892 | 2,345 | 2,230 | |
Product Sales Commissions and Fees [Member] | WM&T [Member] | |||||
Non-interest income | $ 0 | $ 0 | $ 0 | $ 0 | |
[1]Outside of the scope of ASC 606.[2]Outside of the scope of ASC 606, with the exception of safe deposit fees which were nominal for all periods. |
Note 24 - Leases (Details Textu
Note 24 - Leases (Details Textual) | 9 Months Ended | |
Mar. 07, 2022 | Sep. 30, 2023 | |
Lessee, Operating Lease, Renewal Term (Year) | 5 years | |
Commonwealth [Member] | ||
Number of Operating Leases Added in Acquisition | 4 | |
Minimum [Member] | ||
Operating Lease, Remaining Lease Term (Month) | 6 months | |
Maximum [Member] | ||
Operating Lease, Remaining Lease Term (Month) | 17 years |
Note 24 - Leases - Balance Shee
Note 24 - Leases - Balance Sheet, Income Statement, and Cash Flow Detail Regarding Operating Leases (Details) - USD ($) $ in Thousands | 6 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Weighted average remaining lease term (years) (Year) | 9 years 3 months 18 days | 9 years 3 months 18 days | 9 years | ||
Weighted average discount rate | 2.70% | 2.70% | 2.57% | ||
One year or less | $ 872 | $ 872 | $ 3,453 | ||
Year two | 3,345 | 3,345 | 3,293 | ||
Year three | 2,676 | 2,676 | 2,739 | ||
Year four | 2,168 | 2,168 | 2,339 | ||
Year five | 2,018 | 2,018 | 2,245 | ||
Greater than five years | 10,496 | 10,496 | 9,559 | ||
Total lease payments | 21,575 | 21,575 | 23,628 | ||
Less imputed interest | 2,628 | 2,628 | 2,620 | ||
Operating lease cost | 815 | $ 793 | 2,492 | $ 2,241 | |
Variable lease cost | 96 | 57 | 235 | 172 | |
Less sublease income | 25 | 24 | 75 | 72 | |
Total lease cost | 886 | $ 826 | 2,652 | 2,341 | |
Cash paid for operating lease liabilities | 3,111 | $ 2,746 | |||
Premises and Equipment, Net [Member] | |||||
Operating lease right-of-use asset | 17,720 | 17,720 | 19,694 | ||
Other Liabilities [Member] | |||||
Operating lease liability | $ 18,947 | $ 18,947 | $ 21,008 |