Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | Apr. 30, 2024 | |
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 | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
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 | 29,392,401 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Assets [Abstract] | |||
Cash and due from banks | $ 71,676 | $ 94,466 | |
Federal funds sold and interest bearing due from banks | 88,547 | 171,493 | |
Total cash and cash equivalents | 160,223 | 265,959 | |
Mortgage loans held for sale, at fair value | 6,462 | 6,056 | |
Available for sale debt securities (amortized cost of $1,123,119 in 2024 and $1,154,153 in 2023, respectively) | 993,808 | 1,031,179 | |
Held to maturity debt securities (fair value of $351,869 in 2024 and $408,519 in 2023, respectively) | 385,404 | 439,837 | |
Federal Home Loan Bank stock, at cost | 24,675 | 16,236 | |
Loans | [1] | 5,849,715 | 5,771,038 |
Allowance for credit losses on loans | (80,897) | (79,374) | |
Net loans | 5,768,818 | 5,691,664 | |
Premises and equipment, net | 106,730 | 101,174 | |
Premises held for sale | 2,482 | 2,502 | |
Bank owned life insurance | 87,514 | 86,927 | |
Accrued interest receivable | 26,074 | 26,830 | |
Goodwill | 194,074 | 194,074 | |
Other Assets | 347,612 | 287,360 | |
Total assets | 8,123,128 | 8,170,102 | |
Liabilities | |||
Non-interest bearing | 1,481,217 | 1,548,624 | |
Interest bearing | 5,127,863 | 5,122,124 | |
Total deposits | 6,609,080 | 6,670,748 | |
Securities sold under agreements to repurchase | 162,528 | 152,991 | |
Federal funds purchased | 9,961 | 12,852 | |
Subordinated debentures | 26,806 | 26,740 | |
Federal Home Loan Bank advances | 200,000 | 200,000 | |
Accrued interest payable | 2,194 | 2,094 | |
Other liabilities | 237,848 | 246,574 | |
Total liabilities | 7,248,417 | 7,311,999 | |
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 29,393,000 and 29,329,000 shares in 2024 and 2023, respectively | 58,812 | 58,602 | |
Additional paid-in capital | 389,685 | 385,955 | |
Retained earnings | 521,268 | 506,344 | |
Accumulated other comprehensive loss | (95,054) | (92,798) | |
Total stockholders’ equity | 874,711 | 858,103 | |
Total liabilities and equity | 8,123,128 | 8,170,102 | |
Core Deposits [Member] | |||
Assets [Abstract] | |||
Intangible | 11,272 | 11,944 | |
Customer Lists [Member] | |||
Assets [Abstract] | |||
Intangible | $ 7,980 | $ 8,360 | |
[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 | Mar. 31, 2024 | Dec. 31, 2023 |
Available for sale debt securities, amortized cost | $ 1,123,119 | $ 1,154,153 |
Held to maturity debt securities, fair value | $ 351,869 | $ 408,519 |
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) | 29,393,000 | 29,329,000 |
Common stock, shares outstanding (in shares) | 29,393,000 | 29,329,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Interest income: | |||
Loans, including fees | $ 85,840 | $ 68,787 | |
Federal funds sold and interest bearing due from banks | 2,096 | 1,581 | |
Mortgage loans held for sale | 31 | 41 | |
Federal Home Loan Bank stock | 468 | 165 | |
Investment securities: | |||
Taxable | 7,657 | 8,446 | |
Tax-exempt | 453 | 447 | |
Total interest income | 96,545 | 79,467 | |
Interest expense: | |||
Deposits | 31,866 | 13,499 | |
Securities sold under agreements to repurchase | 931 | 456 | |
Federal funds purchased and other short-term borrowings | 136 | 177 | |
Federal Home Loan Bank advances | 2,997 | 1,734 | |
Subordinated debentures | 545 | 529 | |
Total interest expense | 36,475 | 16,395 | |
Net interest income | 60,070 | 63,072 | |
Provision for credit losses | 1,425 | 2,625 | |
Net interest income after provision expense | 58,645 | 60,447 | |
Non-interest income: | |||
Mortgage banking income | [1] | 948 | 1,038 |
Bank owned life insurance | [1] | 588 | 549 |
Loss on sale of premises and equipment | [1] | 0 | (2) |
Total non-interest income | 23,271 | 22,047 | |
Non-interest expenses: | |||
Compensation | 24,221 | 21,896 | |
Employee benefits | 5,876 | 5,053 | |
Net occupancy and equipment | 3,670 | 3,899 | |
Technology and communication | 5,069 | 4,251 | |
Debit and credit card processing | 1,746 | 1,419 | |
Marketing and business development | 1,075 | 1,095 | |
Postage, printing and supplies | 926 | 874 | |
Legal and professional | 1,115 | 797 | |
FDIC insurance | 1,112 | 1,135 | |
Amortization of investments in tax credit partnerships | 0 | 323 | |
Capital and deposit based taxes | 630 | 639 | |
Intangible amortization | 1,052 | 1,180 | |
Other | 2,469 | 2,753 | |
Total non-interest expenses | 48,961 | 45,314 | |
Income before income tax expense | 32,955 | 37,180 | |
Income tax expense | 7,068 | 8,132 | |
Net income | $ 25,887 | $ 29,048 | |
Net income per share - basic (in dollars per share) | $ 0.89 | $ 1 | |
Net income per share - diluted (in dollars per share) | $ 0.88 | $ 0.99 | |
Weighted average outstanding shares | |||
Basic (in shares) | 29,250 | 29,178 | |
Diluted (in shares) | 29,361 | 29,365 | |
Fiduciary and Trust [Member] | |||
Non-interest income: | |||
Non-interest income | $ 10,771 | $ 9,527 | |
Deposit Account [Member] | |||
Non-interest income: | |||
Non-interest income | 2,136 | 2,149 | |
Credit and Debit Card [Member] | |||
Non-interest income: | |||
Non-interest income | 4,682 | 4,482 | |
Treasury Management [Member] | |||
Non-interest income: | |||
Non-interest income | 2,625 | 2,318 | |
Investment Advisory, Management and Administrative Service [Member] | |||
Non-interest income: | |||
Non-interest income | 865 | 754 | |
Product and Service, Other [Member] | |||
Non-interest income: | |||
Non-interest income | $ 656 | $ 1,232 | |
[1]Outside of the scope of ASC 606. |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net income | $ 25,887 | $ 29,048 |
Other comprehensive income (loss): | ||
Change in unrealized gain (loss) on AFS debt securities | (6,337) | 18,859 |
Change in fair value of derivatives used in cash flow hedge | 3,325 | 494 |
Total other comprehensive income (loss) before income tax effect | (3,012) | 19,353 |
Tax effect | (756) | 4,760 |
Total other comprehensive income (loss) net of tax | (2,256) | 14,593 |
Comprehensive income | $ 23,631 | $ 43,641 |
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] | Total |
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 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) | 0 | (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, 2023 | 29,329 | ||||
Balance at Dec. 31, 2023 | $ 58,602 | 385,955 | 506,344 | (92,798) | 858,103 |
Net income | 0 | 0 | 25,887 | 0 | 25,887 |
Other comprehensive loss | 0 | 0 | 0 | (2,256) | (2,256) |
Stock compensation expense | 0 | 942 | 0 | 0 | 942 |
Reclassification adjustment - ASU 2023-02 | $ 0 | 0 | 2,482 | 0 | 2,482 |
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 | $ 212 | 2,825 | (4,675) | 0 | (1,638) |
Cash dividends declared | $ 0 | 0 | (8,809) | 0 | (8,809) |
Shares cancelled (in shares) | (1) | ||||
Shares cancelled | $ (2) | (37) | 39 | 0 | 0 |
Balance (in shares) at Mar. 31, 2024 | 29,393 | ||||
Balance at Mar. 31, 2024 | $ 58,812 | $ 389,685 | $ 521,268 | $ (95,054) | $ 874,711 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash dividends declared, per share (in dollars per share) | $ 0.3 | $ 0.29 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Cash flows from operating activities: | |||
Net income | $ 25,887 | $ 29,048 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for credit losses | 1,425 | 2,625 | |
Depreciation, amortization and accretion, net | 3,438 | 5,879 | |
Deferred income tax expense | 754 | 2,261 | |
Gain on sale of mortgage loans held for sale | (341) | (215) | |
Origination of mortgage loans held for sale+ | (22,617) | (24,683) | |
Proceeds from sale of mortgage loans held for sale | 22,552 | 21,107 | |
Bank owned life insurance income | [1] | (588) | (549) |
Loss on the disposal of premises and equipment | [1] | 0 | 2 |
Stock compensation expense | 942 | 1,152 | |
Excess tax expense (benefit) from share-based compensation arrangements | (4) | 493 | |
Net change in accrued interest receivable and other assets | (8,907) | 3,659 | |
Net change in accrued interest payable and other liabilities | (5,125) | (31,017) | |
Net cash provided by operating activities | 17,416 | 9,762 | |
Cash flows from investing activities: | |||
Proceeds from maturities and paydowns of available for sale debt securities | 30,325 | 30,681 | |
Proceeds from maturities and paydowns of held to maturity debt securities | 4,506 | 4,504 | |
Purchases of FHLB stock | (9,782) | (12,298) | |
Proceeds from redemption of FHLB stock | 1,343 | 0 | |
Net change in non-PPP loans | (78,086) | (47,277) | |
Purchases of premises and equipment | (1,830) | (1,831) | |
Proceeds from sale or disposal of premises and equipment | 0 | 103 | |
Other investment activities | (4,498) | (255) | |
Net cash used in investing activities | (57,625) | (17,337) | |
Cash flows from financing activities: | |||
Net change in deposits | (61,668) | (34,057) | |
Net change in securities sold under agreements to repurchase and federal funds purchased | 6,646 | (22,808) | |
Proceeds from FHLB advances | 725,000 | 700,000 | |
Repayments of FHLB advances | (725,000) | (475,000) | |
Repurchase of common stock | (1,638) | (2,368) | |
Cash dividends paid | (8,867) | (8,561) | |
Net cash (used in) provided by financing activities | (65,527) | 157,206 | |
Net change in cash and cash equivalents | (105,736) | 149,631 | |
Beginning cash and cash equivalents | 265,959 | 167,367 | |
Ending cash and cash equivalents | 160,223 | 316,998 | |
Supplemental cash flow information: | |||
Interest paid | 36,375 | 16,026 | |
Income taxes paid, net of refunds | 5,115 | 0 | |
Cash paid for operating lease liabilities | 1,328 | 1,071 | |
Supplemental non-cash activity: | |||
Unfunded commitments in tax credit investments | 0 | 6,262 | |
Receivable for proceeds from matured HTM investment security | 50,000 | 0 | |
Dividends payable to stockholders | 181 | 158 | |
Premises and equipment transferred to premises held for sale | 0 | 715 | |
Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||
Cash flows from investing activities: | |||
Net change in PPP loans | $ 397 | $ 9,036 | |
[1]Outside of the scope of ASC 606. |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2024 | |
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 subsidiary, Stock Yards Bank & Trust Company. 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 March 31, 2024 not December 31, 2024, 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 2023, 2023 02, Investments Equity Method and Joint Ventures (Topic 323 December 15, 2023 Bancorp adopted this ASU effective January 1, 2024 January 1, 2024 one January 1, 2024, No 2023 02. Accounting Standards Updates not not In November 2023, 2023 07, Segment Reporting (Topic 280 not December 15, 2023 December 15, 2024. not In December 2023, 2023 09, Income Taxes (Topic 740 December 15, 2024 not |
Note 2 - Investment Securities
Note 2 - Investment Securities | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 cost Gains Losses Fair value U.S. Treasury and other U.S. Government obligations $ 119,955 $ - $ (2,477 ) $ 117,478 Government sponsored enterprise obligations 96,057 149 (5,310 ) 90,896 Mortgage backed securities - government agencies 768,003 16 (107,399 ) 660,620 Obligations of states and political subdivisions 135,318 3 (14,064 ) 121,257 Other 3,786 - (229 ) 3,557 Total available for sale debt securities $ 1,123,119 $ 168 $ (129,479 ) $ 993,808 December 31, 2023 U.S. Treasury and other U.S. Government obligations $ 119,931 $ - $ (3,662 ) $ 116,269 Government sponsored enterprise obligations 104,677 157 (4,987 ) 99,847 Mortgage backed securities - government agencies 789,145 83 (101,189 ) 688,039 Obligations of states and political subdivisions 136,579 5 (13,094 ) 123,490 Other 3,821 - (287 ) 3,534 Total available for sale debt securities $ 1,154,153 $ 245 $ (123,219 ) $ 1,031,179 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 March 31, 2024 value Gains Losses Fair value U.S. Treasury and other U.S. Government obligations $ 153,383 $ - $ (4,190 ) $ 149,193 Government sponsored enterprise obligations 26,756 - (2,639 ) 24,117 Mortgage backed securities - government agencies 205,265 - (26,706 ) 178,559 Total held to maturity debt securities $ 385,404 $ - $ (33,535 ) $ 351,869 December 31, 2023 U.S. Treasury and other U.S. Government obligations $ 203,259 $ - $ (4,932 ) $ 198,327 Government sponsored enterprise obligations 26,918 - (2,457 ) 24,461 Mortgage backed securities - government agencies 209,660 1 (23,930 ) 185,731 Total held to maturity debt securities $ 439,837 $ 1 $ (31,319 ) $ 408,519 All investment securities classified as HTM by Bancorp as of March 31, 2024 March 31, 2024. March 31, 2024, none Debt Securities by Contractual Maturity A summary of AFS and HTM debt securities by contractual maturity as of March 31, 2024 AFS Debt Securities HTM Debt Securities (in thousands) Amortized cost Fair value Carrying value Fair value Due within one year $ 127,223 $ 124,656 $ 151,432 $ 147,357 Due after one year but within five years 37,397 35,288 2,656 2,511 Due after five years but within 10 years 79,825 69,940 25,539 22,941 Due after 10 years 110,671 103,304 512 501 Mortgage backed securities - government agencies 768,003 660,620 205,265 178,559 Total $ 1,123,119 $ 993,808 $ 385,404 $ 351,869 Actual maturities may may At March 31, 2024 December 31, 2023, no one 10% Accrued interest on the investment securities portfolio (AFS and HTM) totaled $4 million and $6 million at March 31, 2024 December 31, 2023, condensed consolidated balance sheets Securities with a carrying value of $949 million and $991 million were pledged at March 31, 2024 December 31, 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 March 31, 2024. Unrealized and Unrecognized Loss Analysis on Debt Securities Debt securities with unrealized and unrecognized losses at March 31, 2024 December 31, 2023, AFS Debt Securities Less than 12 months 12 months or more Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2024 value losses value losses value losses U.S. Treasury and other U.S. Government obligations $ - $ - $ 117,478 $ (2,477 ) $ 117,478 $ (2,477 ) Government sponsored enterprise obligations 4,759 (12 ) 80,067 (5,298 ) 84,826 (5,310 ) Mortgage-backed securities - government agencies 10,421 (113 ) 647,067 (107,286 ) 657,488 (107,399 ) Obligations of states and political subdivisions 10,844 (101 ) 104,919 (13,963 ) 115,763 (14,064 ) Other - - 3,557 (229 ) 3,557 (229 ) Total AFS debt securities $ 26,024 $ (226 ) $ 953,088 $ (129,253 ) $ 979,112 $ (129,479 ) December 31, 2023 U.S. Treasury and other U.S. Government obligations $ - $ - $ 116,269 $ (3,662 ) $ 116,269 $ (3,662 ) Government sponsored enterprise obligations - - 83,675 (4,987 ) 83,675 (4,987 ) Mortgage-backed securities - government agencies 16,346 (95 ) 661,195 (101,094 ) 677,541 (101,189 ) Obligations of states and political subdivisions 6,326 (64 ) 105,179 (13,030 ) 111,505 (13,094 ) Other - - 3,534 (287 ) 3,534 (287 ) Total AFS debt securities $ 22,672 $ (159 ) $ 969,852 $ (123,060 ) $ 992,524 $ (123,219 ) HTM Debt Securities Less than 12 months 12 months or more Total (in thousands) Fair Unrecognized Fair Unrecognized Fair Unrecognized March 31, 2024 value losses value losses value losses U.S. Treasury and other U.S. Government obligations $ - $ - $ 149,193 $ (4,190 ) $ 149,193 $ (4,190 ) Government sponsored enterprise obligations 424 (1 ) 23,681 (2,638 ) 24,105 (2,639 ) Mortgage-backed securities - government agencies 204 (1 ) 178,355 (26,705 ) 178,559 (26,706 ) Total HTM debt securities $ 628 $ (2 ) $ 351,229 $ (33,533 ) $ 351,857 $ (33,535 ) December 31, 2023 U.S. Treasury and other U.S. Government obligations $ - $ - $ 198,327 $ (4,932 ) $ 198,327 $ (4,932 ) Government sponsored enterprise obligations 455 (1 ) 23,967 (2,456 ) 24,422 (2,457 ) Mortgage-backed securities - government agencies - - 185,504 (23,930 ) 185,504 (23,930 ) Total HTM debt securities $ 455 $ (1 ) $ 407,798 $ (31,318 ) $ 408,253 $ (31,319 ) Applicable dates for determining when securities are in unrealized and unrecognized loss positions are March 31, 2024 December 31, 2023. 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 March 31, 2024 December 31, 2023, March 31, 2024 December 31, 2023, no March 31, 2024 December 31, 2023. |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Credit Losses on Loans | 3 Months Ended |
Mar. 31, 2024 | |
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) March 31, 2024 December 31, 2023 Commercial real estate - non-owner occupied $ 1,609,483 $ 1,561,689 Commercial real estate - owner occupied 931,973 907,424 Total commercial real estate 2,541,456 2,469,113 Commercial and industrial - term 864,272 867,380 Commercial and industrial - lines of credit 429,424 439,748 Total commercial and industrial 1,293,696 1,307,128 Residential real estate - owner occupied 723,234 708,893 Residential real estate - non-owner occupied 360,958 358,715 Total residential real estate 1,084,192 1,067,608 Construction and land development 532,183 531,324 Home equity lines of credit 212,443 211,390 Consumer 145,022 145,340 Leases 16,619 15,503 Credits cards 24,104 23,632 Total loans (1) $ 5,849,715 $ 5,771,038 ( 1 Accrued interest on loans, which is excluded from the amortized cost of loans, totaled $22 million and $21 million at March 31, 2024 December 31, 2023, Loans with carrying amounts of $3.21 billion and $3.15 billion were pledged to secure FHLB borrowing capacity at March 31, 2024 December 31, 2023, Loans to directors and their related interests, including loans to companies for which directors are principal owners and executive officers, totaled $62 million as of both March 31, 2024 December 31, 2023, ACL for Loans The table below reflects activity in the ACL related to loans: (in thousands) Three Months Ended March 31, 2024 Beginning Balance Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 22,133 $ (326 ) $ - $ 16 $ 21,823 Commercial real estate - owner occupied 11,667 (441 ) - 4 11,230 Total commercial real estate 33,800 (767 ) - 20 33,053 Commercial and industrial - term 14,359 (673 ) (23 ) 253 13,916 Commercial and industrial - lines of credit 6,495 (441 ) - 204 6,258 Total commercial and industrial 20,854 (1,114 ) (23 ) 457 20,174 Residential real estate - owner occupied 9,316 2,509 (14 ) 15 11,826 Residential real estate - non-owner occupied 4,282 449 - - 4,731 Total residential real estate 13,598 2,958 (14 ) 15 16,557 Construction and land development 7,593 (134 ) - - 7,459 Home equity lines of credit 1,660 4 - 2 1,666 Consumer 1,407 192 (210 ) 111 1,500 Leases 220 12 - - 232 Credit cards 242 24 (15 ) 5 256 Total $ 79,374 $ 1,175 $ (262 ) $ 610 $ 80,897 (in thousands) Three Months Ended March 31, 2023 Beginning Balance Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 22,641 $ (991 ) $ - $ 19 $ 21,669 Commercial real estate - owner occupied 10,827 602 - - 11,429 Total commercial real estate 33,468 (389 ) - 19 33,098 Commercial and industrial - term 12,991 991 (71 ) 87 13,998 Commercial and industrial - lines of credit 6,389 (364 ) - - 6,025 Total commercial and industrial 19,380 627 (71 ) 87 20,023 Residential real estate - owner occupied 6,717 1,478 - 10 8,205 Residential real estate - non-owner occupied 3,597 546 - 1 4,144 Total residential real estate 10,314 2,024 - 11 12,349 Construction and land development 7,186 (451 ) - - 6,735 Home equity lines of credit 1,613 17 (12 ) - 1,618 Consumer 1,158 88 (199 ) 139 1,186 Leases 201 (2 ) - - 199 Credit cards 211 336 (88 ) 6 465 Total $ 73,531 $ 2,250 $ (370 ) $ 262 $ 75,673 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 March 31, 2024 Recorded ACL Non-accrual Accruing Interest Commercial real estate - non-owner occupied $ 3,025 $ 4,103 $ — Commercial real estate - owner occupied — 849 — Total commercial real estate 3,025 4,952 — Commercial and industrial - term 3,083 3,974 22 Commercial and industrial - lines of credit — — — Total commercial and industrial 3,083 3,974 22 Residential real estate - owner occupied 265 3,783 — Residential real estate - non-owner occupied — 393 — Total residential real estate 265 4,176 — Construction and land development — — — Home equity lines of credit 321 515 — Consumer — 353 — Leases — — — Credit cards — 14 84 Total $ 6,694 $ 13,984 $ 106 Non-accrual Loans Past Due 90-Days- (in thousands) With No Total or-More and Still December 31, 2023 Recorded ACL Non-accrual Accruing Interest Commercial real estate - non-owner occupied $ 1,714 $ 8,649 $ — Commercial real estate - owner occupied — 885 — Total commercial real estate 1,714 9,534 — Commercial and industrial - term 688 4,456 — Commercial and industrial - lines of credit — 215 — Total commercial and industrial 688 4,671 — Residential real estate - owner occupied 230 3,667 — Residential real estate - non-owner occupied — 372 — Total residential real estate 230 4,039 — Construction and land development — — — Home equity lines of credit 343 467 — Consumer — 337 — Leases — — — Credit cards — 10 110 Total $ 2,975 $ 19,058 $ 110 For the three March 31, 2024 2023, For the three March 31, 2024 2023, 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) March 31, 2024 Real Estate Accounts Receivable / Equipment Other Total ACL Allocation Commercial real estate - non-owner occupied $ 10,518 $ - $ - $ 10,518 $ 902 Commercial real estate - owner occupied 1,742 - - 1,742 609 Total commercial real estate 12,260 - - 12,260 1,511 Commercial and industrial - term 360 3,085 248 3,693 - Commercial and industrial - lines of credit 2,212 101 - 2,313 620 Total commercial and industrial 2,572 3,186 248 6,006 620 Residential real estate - owner occupied 3,536 - - 3,536 198 Residential real estate - non-owner occupied 579 - - 579 116 Total residential real estate 4,115 - - 4,115 314 Construction and land development - - - - - Home equity lines of credit 515 - - 515 - Consumer - - 347 347 11 Leases - - - - - Credit cards - - - - - Total collateral dependent loans $ 19,462 $ 3,186 $ 595 $ 23,243 $ 2,456 (in thousands) December 31, 2023 Real Estate Accounts Receivable / Equipment Other Total ACL Allocation Commercial real estate - non-owner occupied $ 15,419 $ - $ - $ 15,419 $ 1,604 Commercial real estate - owner occupied 2,586 - - 2,586 812 Total commercial real estate 18,005 - - 18,005 2,416 Commercial and industrial - term 302 4,088 - 4,390 377 Commercial and industrial - lines of credit 2,781 101 - 2,882 708 Total commercial and industrial 3,083 4,189 - 7,272 1,085 Residential real estate - owner occupied 4,205 - - 4,205 198 Residential real estate - non-owner occupied 558 - - 558 116 Total residential real estate 4,763 - - 4,763 314 Construction and land development - - - - - Home equity lines of credit 467 - - 467 - Consumer - - 335 335 18 Leases - - - - - Credit cards - - - - - Total collateral dependent loans $ 26,318 $ 4,189 $ 335 $ 30,842 $ 3,833 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 March 31, 2024 Current Past Due Past Due days Past Due Due Loans Loans Commercial real estate - non-owner occupied $ 1,608,139 $ 1 $ 232 $ 1,111 $ 1,344 $ 1,609,483 Commercial real estate - owner occupied 929,996 1,717 189 71 1,977 931,973 Total commercial real estate 2,538,135 1,718 421 1,182 3,321 2,541,456 Commercial and industrial - term 862,153 489 982 648 2,119 864,272 Commercial and industrial - lines of credit 429,117 300 7 — 307 429,424 Total commercial and industrial 1,291,270 789 989 648 2,426 1,293,696 Residential real estate - owner occupied 713,275 5,908 1,897 2,154 9,959 723,234 Residential real estate - non-owner occupied 360,153 407 135 263 805 360,958 Total residential real estate 1,073,428 6,315 2,032 2,417 10,764 1,084,192 Construction and land development 532,183 — — — — 532,183 Home equity lines of credit 211,825 406 18 194 618 212,443 Consumer 144,374 257 148 243 648 145,022 Leases 16,619 — — — — 16,619 Credit cards 23,768 243 9 84 336 24,104 Total $ 5,831,602 $ 9,728 $ 3,617 $ 4,768 $ 18,113 $ 5,849,715 (in thousands) 30-59 days 60-89 days 90 or more Total Past Total December 31, 2023 Current Past Due Past Due days Past Due Due Loans Loans Commercial real estate - non-owner occupied $ 1,558,756 $ 768 $ 318 $ 1,847 $ 2,933 $ 1,561,689 Commercial real estate - owner occupied 906,385 758 260 21 1,039 907,424 Total commercial real estate 2,465,141 1,526 578 1,868 3,972 2,469,113 Commercial and industrial - term 866,089 244 2 1,045 1,291 867,380 Commercial and industrial - lines of credit 439,671 77 — — 77 439,748 Total commercial and industrial 1,305,760 321 2 1,045 1,368 1,307,128 Residential real estate - owner occupied 699,475 5,290 1,612 2,516 9,418 708,893 Residential real estate - non-owner occupied 357,763 621 94 237 952 358,715 Total residential real estate 1,057,238 5,911 1,706 2,753 10,370 1,067,608 Construction and land development 531,324 — — — — 531,324 Home equity lines of credit 210,823 67 33 467 567 211,390 Consumer 144,640 258 145 297 700 145,340 Leases 15,503 — — — — 15,503 Credit cards 23,287 191 44 110 345 23,632 Total $ 5,753,716 $ 8,274 $ 2,508 $ 6,540 $ 17,322 $ 5,771,038 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 such as 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 March 31, 2024, Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized March 31, 2024 2024 2023 2022 2021 2020 Prior cost basis Total Commercial real estate - non-owner occupied: Risk rating Pass $ 113,686 $ 292,164 $ 377,178 $ 310,974 $ 215,516 $ 244,789 $ 20,113 $ 1,574,420 OAEM 2,316 1,772 - 2,886 - 5,601 - 12,575 Substandard - 290 1,093 991 3,546 12,367 98 18,385 Substandard non-performing 2,708 76 284 - - 1,035 - 4,103 Doubtful - - - - - - - - Total Commercial real estate non-owner occupied $ 118,710 $ 294,302 $ 378,555 $ 314,851 $ 219,062 $ 263,792 $ 20,211 $ 1,609,483 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - owner occupied: Risk rating Pass $ 38,226 $ 148,512 $ 176,211 $ 185,807 $ 169,607 $ 176,632 $ 14,950 $ 909,945 OAEM 2,316 2,325 220 1,683 742 1,397 - 8,683 Substandard 2,862 622 4,218 - 4,334 460 - 12,496 Substandard non-performing - - - 778 71 - - 849 Doubtful - - - - - - - - Total Commercial real estate owner occupied $ 43,404 $ 151,459 $ 180,649 $ 188,268 $ 174,754 $ 178,489 $ 14,950 $ 931,973 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial - term: Risk rating Pass $ 62,850 $ 250,419 $ 279,708 $ 151,918 $ 49,446 $ 46,339 $ - $ 840,680 OAEM 4,072 3,807 781 2,218 75 122 - 11,075 Substandard - 5,121 2,281 18 875 248 - 8,543 Substandard non-performing - 3,054 305 226 302 87 - 3,974 Doubtful - - - - - - - - Total Commercial and industrial - term $ 66,922 $ 262,401 $ 283,075 $ 154,380 $ 50,698 $ 46,796 $ - $ 864,272 Current period gross charge offs $ - $ (23 ) $ - $ - $ - $ - $ - $ (23 ) Commercial and industrial - lines of credit Risk rating Pass $ 13,843 $ 18,796 $ 11,216 $ 3,066 $ 337 $ 7,895 $ 343,653 $ 398,806 OAEM 5,382 - - - - 14 22,403 27,799 Substandard - - - - - - 2,819 2,819 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Commercial and industrial - lines of credit $ 19,225 $ 18,796 $ 11,216 $ 3,066 $ 337 $ 7,909 $ 368,875 $ 429,424 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - (continued) (continued) Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized March 31, 2024 2024 2023 2022 2021 2020 Prior cost basis Total Residential real estate - owner occupied Risk rating Pass $ 27,388 $ 167,859 $ 174,431 $ 172,838 $ 84,750 $ 91,731 $ - $ 718,997 OAEM - - - 88 - - - 88 Substandard - - 14 - - 352 - 366 Substandard non-performing - 1,727 1,088 189 182 597 - 3,783 Doubtful - - - - - - - - Total Residential real estate - owner occupied $ 27,388 $ 169,586 $ 175,533 $ 173,115 $ 84,932 $ 92,680 $ - $ 723,234 Current period gross charge offs $ - $ (14 ) $ - $ - $ - $ - $ - $ (14 ) Residential real estate - non-owner occupied Risk rating Pass $ 17,699 $ 75,801 $ 82,460 $ 76,341 $ 47,211 $ 60,216 $ - $ 359,728 OAEM - - 4 - - 524 - 528 Substandard - - - - - 309 - 309 Substandard non-performing - - 226 19 - 148 - 393 Doubtful - - - - - - - - Total Residential real estate - non-owner occupied $ 17,699 $ 75,801 $ 82,690 $ 76,360 $ 47,211 $ 61,197 $ - $ 360,958 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Construction and land development Risk rating Pass $ 52,693 $ 167,237 $ 213,365 $ 60,291 $ 10,522 $ 4,013 $ 13,909 $ 522,030 OAEM 3,683 - - - - - 999 4,682 Substandard 2,298 3,173 - - - - - 5,471 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Construction and land development $ 58,674 $ 170,410 $ 213,365 $ 60,291 $ 10,522 $ 4,013 $ 14,908 $ 532,183 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity lines of credit Risk rating Pass $ - $ - $ - $ - $ - $ - $ 211,891 $ 211,891 OAEM - - - - - - - - Substandard - - - - - - 37 37 Substandard non-performing - - - - - - 515 515 Doubtful - - - - - - - - Total Home equity lines of credit $ - $ - $ - $ - $ - $ - $ 212,443 $ 212,443 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Consumer Risk rating Pass $ 7,341 $ 25,424 $ 17,140 $ 8,213 $ 2,332 $ 2,953 $ 81,266 $ 144,669 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - 152 62 86 26 27 - 353 Doubtful - - - - - - - - Total Consumer $ 7,341 $ 25,576 $ 17,202 $ 8,299 $ 2,358 $ 2,980 $ 81,266 $ 145,022 Current period gross charge offs $ (153 ) $ (6 ) $ - $ (13 ) $ (2 ) $ (33 ) $ (3 ) $ (210 ) (continued) (continued) Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized March 31, 2024 2024 2023 2022 2021 2020 Prior cost basis Total Leases Risk rating Pass $ 2,634 $ 6,486 $ 3,182 $ 2,667 $ 1,336 $ 314 $ - $ 16,619 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Leases $ 2,634 $ 6,486 $ 3,182 $ 2,667 $ 1,336 $ 314 $ - $ 16,619 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Credit cards Risk rating Pass $ - $ - $ - $ - $ - $ - $ 24,090 $ 24,090 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - 14 14 Doubtful - - - - - - - - Total Credit cards $ - $ - $ - $ - $ - $ - $ 24,104 $ 24,104 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (15 ) $ (15 ) Total loans Risk rating Pass $ 336,360 $ 1,152,698 $ 1,334,891 $ 972,115 $ 581,057 $ 634,882 $ 709,872 $ 5,721,875 OAEM 17,769 7,904 1,005 6,875 817 7,658 23,402 65,430 Substandard 5,160 9,206 7,606 1,009 8,755 13,736 2,954 48,426 Substandard non-performing 2,708 5,009 1,965 1,298 581 1,894 529 13,984 Doubtful - - - - - - - - Total Loans $ 361,997 $ 1,174,817 $ 1,345,467 $ 981,297 $ 591,210 $ 658,170 $ 736,757 $ 5,849,715 Current period gross charge offs $ (153 ) $ (43 ) $ - $ (13 ) $ (2 ) $ (33 ) $ (18 ) $ (262 ) As of December 31, 2023, Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized December 31, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Commercial real estate - non-owner occupied: Risk rating Pass $ 302,787 $ 370,728 $ 346,600 $ 220,144 $ 122,732 $ 136,624 $ 26,187 $ 1,525,802 OAEM 76 - 2,902 - 1,947 3,727 - 8,652 Substandard 290 1,093 997 3,587 12,278 243 98 18,586 Substandard non-performing 5,806 286 - - 1,472 1,085 - 8,649 Doubtful - - - - - - - - Total Commercial real estate non-owner occupied $ 308,959 $ 372,107 $ 350,499 $ 223,731 $ 138,429 $ 141,679 $ 26,285 $ 1,561,689 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - owner occupied: Risk rating Pass $ 148,498 $ 164,087 $ 191,350 $ 179,450 $ 90,575 $ 100,988 $ 13,941 $ 888,889 OAEM 4,175 221 592 757 395 691 - 6,831 Substandard 1,675 4,258 - 4,370 458 58 - 10,819 Substandard non-performing - 21 793 71 - - - 885 Doubtful - - - - - - - - Total Commercial real estate owner occupied $ 154,348 $ 168,587 $ 192,735 $ 184,648 $ 91,428 $ 101,737 $ 13,941 $ 907,424 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial - term: Risk rating Pass $ 279,002 $ 298,204 $ 172,288 $ 56,949 $ 24,939 $ 26,790 $ - $ 858,172 OAEM 585 819 2,520 87 139 - - 4,150 Substandard 218 80 31 - - 273 - 602 Substandard non-performing 3,395 592 29 338 101 1 - 4,456 Doubtful - - - - - - - - Total Commercial and industrial - term $ 283,200 $ 299,695 $ 174,868 $ 57,374 $ 25,179 $ 27,064 $ - $ 867,380 Current period gross charge offs $ (1,315 ) $ (734 ) $ (37 ) $ (93 ) $ (37 ) $ (82 ) $ - $ (2,298 ) Commercial and industrial - lines of credit Risk rating Pass $ 30,553 $ 22,409 $ 3,232 $ 348 $ 8,931 $ 1,783 $ 356,237 $ 423,493 OAEM - - - 723 20 - 8,585 9,328 Substandard - - - - - - 6,712 6,712 Substandard non-performing 157 - - - - - 58 215 Doubtful - - - - - - - - Total Commercial and industrial - lines of credit $ 30,710 $ 22,409 $ 3,232 $ 1,071 $ 8,951 $ 1,783 $ 371,592 $ 439,748 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (3,633 ) $ (3,633 ) (continued) (continued) Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized December 31, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Residential real estate - owner occupied Risk rating Pass $ 170,446 $ 178,088 $ 175,561 $ 86,105 $ 24,354 $ 70,213 $ - $ 704,767 OAEM - - 89 - - - - 89 Substandard - 15 - - - 355 - 370 Substandard non-performing 1,138 1,122 297 192 162 756 - 3,667 Doubtful - - - - - - - - Total Residential real estate - owner occupied $ 171,584 $ 179,225 $ 175,947 $ 86,297 $ 24,516 $ 71,324 $ - $ 708,893 Current period gross charge offs $ - $ - $ - $ - $ - $ (43 ) $ - $ (43 ) Residential real estate - non-owner occupied Risk rating Pass $ 83,913 $ 84,278 $ 77,868 $ 49,555 $ 31,325 $ 30,546 $ - $ 357,485 OAEM - 7 - - 262 277 - 546 Substandard - - - - - 312 - 312 Substandard non-performing - 233 19 - 45 75 - 372 Doubtful - - - - - - - - Total Residential real estate - non-owner occupied $ 83,913 $ 84,518 $ 77,887 $ 49,555 $ 31,632 $ 31,210 $ - $ 358,715 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Construction and land development Risk rating Pass $ 157,832 $ 239,807 $ 69,131 $ 34,591 $ 478 $ 3,711 $ 15,623 $ 521,173 OAEM - - 3,682 - - - 999 4,681 Substandard 5,470 - - - - - - 5,470 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Construction and land development $ 163,302 $ 239,807 $ 72,813 $ 34,591 $ 478 $ 3,711 $ 16,622 $ 531,324 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity lines of credit Risk rating Pass $ - $ - $ - $ - $ - $ - $ 210,886 $ 210,886 OAEM - - - - - - - - Substandard - - - - - - 37 37 Substandard non-performing - - - - - - 467 467 Doubtful - - - - - - - - Total Home equity lines of credit $ - $ - $ - $ - $ - $ - $ 211,390 $ 211,390 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (12 ) $ (12 ) Consumer Risk rating Pass $ 30,823 $ 18,399 $ 10,148 $ 2,832 $ 1,931 $ 1,765 $ 79,105 $ 145,003 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing 41 145 91 27 3 14 16 337 Doubtful - - - - - - - - Total Consumer $ 30,864 $ 18,544 $ 10,239 $ 2,859 $ 1,934 $ 1,779 $ 79,121 $ 145,340 Current period gross charge offs $ (683 ) $ (22 ) $ (29 ) $ (43 ) $ (41 ) $ (27 ) $ (20 ) $ (865 ) (continued) (continued) Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized December 31, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Leases Risk rating Pass $ 6,801 $ 3,442 $ 3,117 $ 1,723 $ 155 $ 265 $ - $ 15,503 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Leases $ 6,801 $ 3,442 $ 3,117 $ 1,723 $ 155 $ 265 $ - $ 15,503 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Credit cards Risk rating Pass $ - $ - $ - $ - $ - $ - $ 23,622 $ 23,622 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - 10 10 Doubtful - - - - - - - - Total Credit cards $ - $ - $ - $ - $ - $ - $ 23,632 $ 23,632 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (661 ) $ (661 ) Total loans Risk rating Pass $ 1,207,296 $ 1,379,117 $ 1,047,901 $ 630,129 $ 305,493 $ 379,258 $ 725,601 $ 5,674,795 OAEM 4,836 1,047 9,785 1,567 2,763 4,695 9,584 34,277 Substandard 7,653 5,446 1,028 7,957 12,736 1,241 6,847 42,908 Substandard non-performing 10,537 2,399 1,229 628 1,783 1,931 551 19,058 Doubtful - - - - - - - - Total Loans $ 1,230,322 $ 1,388,009 $ 1,059,943 $ 640,281 $ 322,775 $ 387,125 $ 742,583 $ 5,771,038 Current period gross charge offs $ (1,998 ) $ (756 ) $ (66 ) $ (136 ) $ (78 ) $ (152 ) $ (4,326 ) $ (7,512 ) 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: March 31, December 31, (in thousands) 2024 2023 Credit cards Performing $ 24,006 $ 23,512 Non-performing 98 120 Total credit cards $ 24,104 $ 23,632 Bancorp had $112,000 and $668,000, respectively, in residential real estate loans for which formal foreclosure proceedings were in process at March 31, 2024 December 31, 2023. Modifications to Borrowers Experiencing Financial Difficulty During the three March 31, 2024 2023 no no 12 90 |
Note 4 - Goodwill
Note 4 - Goodwill | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | ( 4 Goodwill As of March 31, 2024 December 31, 2023, The composition of goodwill is presented by respective acquisition below: March 31, December 31, (in thousands) 2024 2023 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 |
Note 5 - Core Deposit and Custo
Note 5 - Core Deposit and Customer List Intangible Assets | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, (in thousands) 2024 2023 Balance at beginning of period $ 11,944 $ 14,958 Amortization (672 ) (762 ) Balance at end of period $ 11,272 $ 14,196 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 business. Similar to CDI assets, this intangible asset also amortizes over its estimated useful life. Changes in the net carrying amount of the CLI follows: Three months ended March 31, (in thousands) 2024 2023 Balance at beginning of period $ 8,360 $ 10,032 Amortization (380 ) (418 ) Balance at end of period $ 7,980 $ 9,614 Future CDI and CLI amortization expense is estimated as follows: (in thousands) CDI CLI Remainder of 2024 $ 2,015 $ 1,140 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 $ 11,272 $ 7,980 |
Note 6 - Other Assets
Note 6 - Other Assets | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | ( 6 Other Assets A summary of the major components of other assets follows: March 31, December 31, (in thousands) 2024 2023 Cash surrender value of life insurance other than BOLI $ 18,773 $ 17,843 Net deferred tax asset 49,181 47,236 Investments in tax credit partnerships 173,055 175,056 Swap assets 10,823 5,133 Prepaid assets 6,255 5,873 WM&T fees receivable 4,551 4,205 Mortgage servicing rights 12,544 13,082 Other real estate owned 10 10 Other 72,420 18,922 Total other assets $ 347,612 $ 287,360 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 the 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. For additional information, see the footnote titled “ Income Taxes. 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 - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Assets [Abstract] | ||
Other Assets | $ 347,612 | $ 287,360 |
Notes to Financial Statements | ||
Income Tax Disclosure [Text Block] | ( 7 Income Taxes Components of income tax expense from operations follows: Three months ended March 31, (in thousands) 2024 2023 Current income tax expense: Federal $ 5,116 $ 5,194 State 1,198 677 Total current income tax expense 6,314 5,871 Deferred income tax expense: Federal 587 1,417 State 167 844 Total deferred income tax expense 754 2,261 Change in valuation allowance - - Total income tax expense $ 7,068 $ 8,132 An analysis of the difference between the statutory and ETRs from operations follows: Three months ended March 31, 2024 2023 U.S. federal statutory income tax rate 21.0 % 21.0 % State income taxes, net of federal benefit 3.3 3.3 Excess tax benefit from stock-based compensation arrangements 0.3 (1.1 ) Change in cash surrender value of life insurance (1.0 ) (0.7 ) Adoption of ASU 2023-02 (1.3 ) - Tax credits 0.6 0.4 Tax exempt interest income (0.5 ) (0.5 ) Insurance captive - (0.3 ) Other, net (0.9 ) (0.2 ) Effective tax rate 21.5 % 21.9 % Current state income tax expense for 2024 2023 On April 10, 2023, 831 not 2024. not August 2023 December 31, 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 March 31, 2024 December 31, 2023, 2019 2018. Bancorp periodically invests in certain partnerships that generate federal income tax credits. The tax benefit of these investments exceeds the amortization expense associated with them, resulting in a positive impact on net income. In addition to income tax benefits, these investments also serve as an economical means of achieving CRA goals. 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. While contributions are made periodically over the life of the respective investments, which can be up to 10 first Bancorp’s investments in tax credit partnerships, including the related unfunded contributions, totaled $173 million and $175 million as of March 31, 2024 December 31, 2023, other assets As of March 31, 2024, (dollars in thousands) March 31, 2024 Remainder of 2024 $ 35,791 2025 62,830 2026 33,634 2027 7,136 2028 793 Thereafter 13,117 Total unfunded contributions $ 153,301 Effective January 1, 2024, 2023 02, Investments Equity Method and Joint Ventures (Topic 323 2024, The following table presents tax credits and other tax benefits recognized in addition to amortization expense related to Bancorp’s investment in tax credit partnerships for the three March 31, 2024 2023: Three months ended March 31, (in thousands) 2024 2023 Proportional amortization method: Tax credits and other tax benefits recognized $ 3,551 $ 350 Amortization expense in provision for income taxes 2,853 398 Amortization expense in other non-interest expense - 323 Effective yield method: Tax credits and other tax benefits recognized $ - $ 399 Amortization expense in provision for income taxes - - Amortization expense in other non-interest expense - - There were no impairment losses related to Bancorp’s investments in tax credit partnerships during the three March 31, 2024 March 31, 2023. |
Note 8 - Deposits
Note 8 - Deposits | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | ( 8 Deposits The composition of deposits follows: (in thousands) March 31, 2024 December 31, 2023 Non-interest bearing demand deposits $ 1,481,217 $ 1,548,624 Interest bearing deposits: Interest bearing demand 2,414,118 2,480,357 Savings 436,501 438,834 Money market 1,241,822 1,219,656 Time deposits of $250 thousand or more 288,861 279,474 Other time deposits 746,561 703,803 Total time deposits (1) 1,035,422 983,277 Total interest bearing deposits 5,127,863 5,122,124 Total deposits $ 6,609,080 $ 6,670,748 ( 1 Includes $364 and $597 in brokered deposits as of March 31, 2024 December 31, 2023, |
Note 9 - Securities Sold Under
Note 9 - Securities Sold Under Agreements to Repurchase | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 December 31, 2023, Information concerning SSUAR follows: (dollars in thousands) March 31, 2024 December 31, 2023 Outstanding balance at end of period $ 162,528 $ 152,991 Weighted average interest rate at end of period 2.09 % 2.23 % Three months ended March 31, (dollars in thousands) 2024 2023 Average outstanding balance during the period $ 164,979 $ 122,049 Average interest rate during the period 2.27 % 1.52 % Maximum outstanding at any month end during the period $ 179,428 $ 133,740 |
Note 10 - Subordinated Debentur
Note 10 - Subordinated Debentures | 3 Months Ended |
Mar. 31, 2024 | |
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 April 1, 2024 March 31, 2024: (dollars in thousands) Face Value Carrying Value Origination Date Maturity Date Interest Rate Commonwealth Statutory Trust III $ 3,093 $ 3,093 12/19/2003 1/7/2034 SOFR Commonwealth Statutory Trust IV 12,372 12,372 12/15/2005 12/30/2035 SOFR + 1.35% Commonwealth Statutory Trust V 11,341 11,341 6/28/2007 9/15/2037 SOFR + 1.40% Total $ 26,806 $ 26,806 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 have been amortized and recognized as a component of interest expense in Bancorp’s consolidated financial statements. The discounts became fully amortized during the first 2024. |
Note 11 - FHLB Advances and Oth
Note 11 - FHLB Advances and Other Borrowings | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | ( 11 FHLB Advances and Other Borrowings FHLB advances outstanding at March 31, 2024 three May 2024, 2023 December 31, 2023 three January 2024, For the three March 31, 2024, 90 three March 31, 2024. three March 31, 2023, 90 three March 31, 2023 Information regarding FHLB advances follows. The average interest rate information provided includes the benefit associated with the related interest rate swaps: (dollars in thousands) March 31, 2024 December 31, 2023 Outstanding balance at end of period $ 200,000 $ 200,000 Weighted average interest rate at end of period 4.04 % 4.11 % 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 both March 31, 2024 December 31, 2023, Bancorp also had unsecured available FFP lines with correspondent banks totaling $80 million at both March 31, 2024 December 31, 2023, |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 12 Commitments and Contingent Liabilities As of March 31, 2024 December 31, 2023, not (in thousands) March 31, 2024 December 31, 2023 Commercial and industrial $ 927,870 $ 897,673 Construction and development 634,705 606,668 Home equity lines of credit 387,244 381,110 Credit cards 84,209 83,700 Overdrafts 55,926 55,124 Standby letters of credit 35,627 33,778 Other 87,732 100,447 Future loan commitments 324,784 298,164 Total off balance sheet commitments to extend credit $ 2,538,097 $ 2,456,664 Most 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 The ACL for off balance sheet credit exposures, which is separate from the ACL for loans and recorded in other liabilities on the consolidated balance sheets, was $6.1 million and $5.9 million as of March 31, 2024 December 31, 2023, three March 31, 2024, 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 March 31, 2024, 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. While contributions are made periodically over the life of the respective investments, which can be up to 10 first 2023, March 31, 2024, As of March 31, 2024, not |
Note 13 - Assets and Liabilitie
Note 13 - Assets and Liabilities Measured and Reported at Fair Value | 3 Months Ended |
Mar. 31, 2024 | |
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 Authoritative guidance requires maximization of use of observable inputs and minimization of use of unobservable inputs in fair value measurements. Where there exists limited or no may not 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 March 31, 2024 (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 $ 117,478 $ — $ — $ 117,478 Government sponsored enterprise obligations — 90,896 — 90,896 Mortgage backed securities - government agencies — 660,620 — 660,620 Obligations of states and political subdivisions — 121,257 — 121,257 Other — 3,557 — 3,557 Total available for sale debt securities 117,478 876,330 — 993,808 Mortgage loans held for sale — 6,462 — 6,462 Rate lock loan commitments — 452 — 452 Interest rate swap assets — 10,823 — 10,823 Total assets $ 117,478 $ 894,067 $ — $ 1,011,545 Liabilities: Interest rate swap liabilities $ — $ 7,743 $ — $ 7,743 Mandatory forward contracts — 41 — 41 Total liabilities $ — $ 7,784 $ — $ 7,784 Fair Value Measurements Using: Total December 31, 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 $ 116,269 $ — $ — $ 116,269 Government sponsored enterprise obligations — 99,847 — 99,847 Mortgage backed securities - government agencies — 688,039 — 688,039 Obligations of states and political subdivisions — 123,490 — 123,490 Other — 3,534 — 3,534 Total available for sale debt securities 116,269 914,910 — 1,031,179 Mortgage loans held for sale — 6,056 — 6,056 Rate lock loan commitments — 174 — 174 Interest rate swap assets — 5,133 — 5,133 Total assets $ 116,269 $ 926,273 $ — $ 1,042,542 Liabilities: Interest rate swap liabilities $ — $ 5,378 $ — $ 5,378 Mandatory forward contracts — 43 — 43 Total liabilities $ — $ 5,421 $ — $ 5,421 There were no 3 2024 2023. 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 Fair Value Measurements Using: Total ended March 31, 2024 (in thousands) Level 1 Level 2 Level 3 Fair Value March 31, 2024 Collateral dependent loans $ — $ — $ 7,632 $ 7,632 $ 4 Other real estate owned — — 10 10 — Losses recorded Three months Fair Value Measurements Using: Total ended December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Fair Value March 31, 2023 Collateral dependent loans $ — $ — $ 13,561 $ 13,561 $ — Other real estate owned — — 10 10 — There were no liabilities measured at fair value on a non-recurring basis at March 31, 2024 December 31, 2023. For Level 3 March 31, 2024 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Collateral dependent loans $ 7,632 Appraisal Appraisal discounts 8.4 % Other real estate owned 10 Appraisal Appraisal discounts 93.0 December 31, 2023 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Collateral dependend loans $ 13,561 Appraisal Appraisal discounts 18.0 % Other real estate owned 10 Appraisal Appraisal discounts 93.0 |
Note 14 - Disclosure of Financi
Note 14 - Disclosure of Financial Instruments Not Reported at Fair Value | 3 Months Ended |
Mar. 31, 2024 | |
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: March 31, 2024 (in thousands) amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 160,223 $ 160,223 $ 160,223 $ — $ — HTM debt securities 385,404 351,869 149,193 202,676 — Federal Home Loan Bank stock 24,675 24,675 — 24,675 — Loans, net 5,768,818 5,594,312 — — 5,594,312 Accrued interest receivable 26,074 26,074 26,074 — — Liabilities Non-interest bearing deposits $ 1,481,217 $ 1,481,217 $ 1,481,217 $ — $ — Transaction deposits 4,092,441 4,092,441 — 4,092,441 — Time deposits 1,035,422 1,029,116 — 1,029,116 — Securities sold under agreement to repurchase 162,528 162,528 — 162,528 — Federal funds purchased 9,961 9,961 — 9,961 — Subordinated debentures 26,806 25,896 — 25,896 — FHLB advances 200,000 193,213 — 193,213 — Accrued interest payable 2,194 2,194 2,194 — — Carrying Fair Value Measurements Using: December 31, 2023 (in thousands) amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 265,959 $ 265,959 $ 265,959 $ — $ — HTM debt securities 439,837 408,519 198,327 210,192 — Federal Home Loan Bank stock 16,236 16,236 — 16,236 — Loans, net 5,691,664 5,520,059 — — 5,520,059 Accrued interest receivable 26,830 26,830 26,830 — — Liabilities Non-interest bearing deposits $ 1,548,624 $ 1,548,624 $ 1,548,624 $ — $ — Transaction deposits 4,138,847 4,138,847 — 4,138,847 — Time deposits 983,277 976,841 — 976,841 — Securities sold under agreement to repurchase 152,991 152,991 — 152,991 — Federal funds purchased 12,852 12,852 — 12,852 — Subordinated debentures 26,740 26,746 — 26,746 — FHLB advances 200,000 200,047 — 200,047 — Accrued interest payable 2,094 2,094 2,094 — — 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, (in thousands) 2024 2023 Balance, beginning of period: $ 6,056 $ 2,606 Origination of mortgage loans held for sale 22,617 24,683 Proceeds from the sale of mortgage loans held for sale (22,552 ) (21,107 ) Net gain realized on sale of mortgage loans held for sale 341 215 Balance, end of period $ 6,462 $ 6,397 The following table represents the components of Mortgage banking income: Three months ended March 31, (in thousands) 2024 2023 Net gain realized on sale of mortgage loans held for sale $ 341 $ 215 Net change in fair value recognized on loans held for sale 33 50 Net change in fair value recognized on rate lock loan commitments 257 330 Net change in fair value recognized on forward contracts 28 (47 ) Net gain recognized 659 548 Net loan servicing income 960 1,188 Amortization of mortgage servicing rights (738 ) (761 ) Change in mortgage servicing rights valuation allowance - - Net servicing income recognized 222 427 Other mortgage banking income 67 63 Total mortgage banking income $ 948 $ 1,038 Activity for capitalized mortgage servicing rights was as follows: Three months ended March 31, (in thousands) 2024 2023 Balance, beginning of period $ 13,082 $ 15,219 Additions for mortgage loans sold 200 165 Amortization (738 ) (761 ) Impairment — — Balance, end of period $ 12,544 $ 14,623 The estimated fair value of MSRs at March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023, Total outstanding principal balances of loans serviced for others were $1.90 billion and $1.93 billion at March 31, 2024 December 31, 2023, 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: March 31, 2024 December 31, 2023 (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 $ 6,338 $ 6,462 $ 5,965 $ 6,056 Included in other assets: Rate lock loan commitments $ 11,626 $ 452 $ 4,345 $ 174 Included in other liabilities Mandatory forward contracts $ 13,250 $ (41 ) $ 6,750 $ (43 ) |
Note 16 - Accumulated Other Com
Note 16 - Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2024 | |
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 (losses) pension on available for on cash liability (in thousands) sale debt securities flow hedges adjustment Total Three months ended March 31, 2024 Balance, beginning of period $ (92,678 ) $ (179 ) $ 59 $ (92,798 ) Net current period other comprehensive loss (4,775 ) 2,519 - (2,256 ) Balance, end of period $ (97,453 ) $ 2,340 $ 59 $ (95,054 ) Three months ended March 31, 2023 Balance, beginning of period $ (115,648 ) $ - $ 112 $ (115,536 ) Net current period other comprehensive income 14,217 376 - 14,593 Balance, end of period $ (101,431 ) $ 376 $ 112 $ (100,943 ) |
Note 17 - Preferred Stock
Note 17 - Preferred Stock | 3 Months Ended |
Mar. 31, 2024 | |
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 | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, (in thousands, except per share data) 2024 2023 Net income available to stockholders $ 25,887 $ 29,048 Weighted average shares outstanding - basic 29,250 29,178 Dilutive securities 111 187 Weighted average shares outstanding- diluted 29,361 29,365 Net income per share - basic $ 0.89 $ 1.00 Net income per share - diluted 0.88 0.99 Certain SARs that were excluded from the EPS calculation because their impact was antidilutive were as follows: Three months ended (shares in thousands) March 31, 2024 2023 Antidilutive SARs 115 48 |
Note 19 - Stock-based Compensat
Note 19 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2024 | |
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, March 31, 2024, 2024 April 25, 2024. 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 2024 2023 Dividend yield 2.29 % 2.24 % Expected volatility 28.43 % 27.20 % Risk free interest rate 4.16 % 3.84 % 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 2024 2023. RSU Grants In the first 2024 2023, Bancorp utilized cash of $203,000 and $175,000 during the first three 2024 2023, 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 March 31, 2024 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 69 $ 420 $ 124 $ 329 $ 942 Deferred tax benefit (14 ) (88 ) (26 ) (69 ) (197 ) Total net expense $ 55 $ 332 $ 98 $ 260 $ 745 Three months ended March 31, 2023 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 99 $ 412 $ 132 $ 509 $ 1,152 Deferred tax benefit (21 ) (87 ) (28 ) (107 ) (243 ) Total net expense $ 78 $ 325 $ 104 $ 402 $ 909 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 2024 $ 284 $ 1,330 $ 375 $ 712 $ 2,701 2025 336 1,567 1 606 2,510 2026 286 1,268 — — 1,554 2027 216 918 — — 1,134 2028 126 462 — — 588 2029 11 37 — — 48 Total estimated future expense $ 1,259 $ 5,582 $ 376 $ 1,318 $ 8,535 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, 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 (24 ) 19.37 - 19.37 19.37 681 3.58 Forfeited — — — — — Outstanding, December 31, 2023 440 $19.44 - $74.92 $ 38.11 $ 6,297 $ 6.86 4.7 Outstanding, January 1, 2024 440 $19.44 - $74.92 $ 38.11 $ 6,297 $ 6.86 4.7 Granted 42 47.95 - 54.92 49.20 — 13.75 Exercised (1 ) 45.76 - 45.76 24.56 32 3.97 Forfeited — — — — — Outstanding, March 31, 2024 481 $19.44 - $74.92 $ 39.12 $ 5,371 $ 7.47 4.9 Vested and exercisable 378 $19.44 - $60.76 $ 35.70 $ 5,212 $ 6.00 3.9 Unvested 103 36.65 - 74.92 51.61 (279 ) 12.80 3.9 Outstanding, March 31, 2024 481 $19.44 - $74.92 $ 39.12 $ 5,371 $ 7.47 4.9 Vested in the current year 43 $36.65 - $60.76 $ 47.37 $ 66 $ 9.87 ( 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, 2023 96 $ 47.26 Shares awarded 38 63.04 Restrictions lapsed and shares released (33 ) 43.77 Shares cancelled (3 ) 53.38 Unvested at December 31, 2023 98 $ 54.23 Unvested at January 1, 2024 98 $ 54.23 Shares awarded 44 48.74 Restrictions lapsed and shares released (31 ) 49.15 Shares cancelled (1 ) 55.44 Unvested at March 31, 2024 110 $ 53.49 Shares expected to be awarded for PSUs three January 1 Vesting Shares Grant period Fair expected to year in years value be awarded 2022 3 48.48 14,538 2023 3 54.33 13,402 2024 3 41.84 34,452 |
Note 20 - Derivative Financial
Note 20 - Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2024 | |
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 March, 31 December 31, March, 31 December 31, (dollars in thousands) 2024 2023 2024 2023 Notional amount $ 200,074 $ 201,555 $ 200,074 $ 201,555 Weighted average maturity (years) 5.7 6.0 5.7 6.0 Fair value $ 7,735 $ 5,133 $ 7,743 $ 5,142 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 March 31, Notional Amount Maturity Date Receive (variable) index swap rate 2024 $ 100,000 2/6/2028 USD SOFR 3.27 % $ 2,988 50,000 8/6/2026 USD SOFR 4.38 % 16 50,000 8/6/2028 USD SOFR 3.97 % 84 $ 200,000 $ 3,088 |
Note 21 - Regulatory Matters
Note 21 - Regulatory Matters | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, 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 March 31, 2024, 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 March 31, 2024 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 872,434 12.69 % $ 549,896 8.00 % NA NA Bank 847,856 12.37 548,183 8.00 $ 685,228 10.00 % Common equity tier 1 risk-based capital (1) Consolidated 763,818 11.11 309,316 4.50 NA NA Bank 765,240 11.17 308,353 4.50 445,398 6.50 Tier 1 risk-based capital (1) Consolidated 789,818 11.49 412,422 6.00 NA NA Bank 765,240 11.17 411,137 6.00 548,183 8.00 Leverage Consolidated 789,818 9.82 321,766 4.00 NA NA Bank 765,240 9.52 321,523 4.00 401,903 5.00 (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2023 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 849,836 12.56 % $ 541,370 8.00 % NA NA Bank 823,275 12.21 539,609 8.00 $ 674,511 10.00 % Common equity tier 1 risk-based capital (1) Consolidated 747,376 11.04 304,521 4.50 NA NA Bank 746,815 11.07 303,530 4.50 438,432 6.50 Tier 1 risk-based capital (1) Consolidated 773,376 11.43 406,027 6.00 NA NA Bank 746,815 11.07 404,707 6.00 539,609 8.00 Leverage Consolidated 773,376 9.62 321,713 4.00 NA NA Bank 746,815 9.30 321,323 4.00 401,654 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, not Selected financial information by business segment follows: Three months ended March 31, 2024 Three months ended March 31, 2023 Commercial Commercial (in thousands) Banking WM&T Total Banking WM&T Total Net interest income $ 59,794 $ 276 $ 60,070 $ 62,944 $ 128 $ 63,072 Provision for credit losses 1,425 — 1,425 2,625 — 2,625 Wealth management and trust services — 10,771 10,771 — 9,527 9,527 All other non-interest income 12,500 — 12,500 12,520 — 12,520 Non-interest expenses 42,979 5,982 48,961 39,600 5,714 45,314 Income before income tax expense 27,890 5,065 32,955 33,239 3,941 37,180 Income tax expense 5,969 1,099 7,068 7,277 855 8,132 Net income $ 21,921 $ 3,966 $ 25,887 $ 25,962 $ 3,086 $ 29,048 Segment assets $ 8,087,998 $ 35,130 $ 8,123,128 $ 7,631,031 $ 36,617 $ 7,667,648 |
Note 23 - Revenue From Contract
Note 23 - Revenue From Contracts With Customers | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 Three months ended March 31, 2023 (in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Wealth management and trust services $ — $ 10,771 $ 10,771 $ — $ 9,527 $ 9,527 Deposit service charges 2,136 — 2,136 2,149 — 2,149 Debit and credit card income 4,682 — 4,682 4,482 — 4,482 Treasury management fees 2,625 — 2,625 2,318 — 2,318 Mortgage banking income (1) 948 — 948 1,038 — 1,038 Net investment product sales commissions and fees 865 — 865 754 — 754 Bank owned life insurance (1) 588 — 588 549 — 549 Loss on sale of premises and equipment (1) — — — (2 ) — (2 ) Other (2) 656 — 656 1,232 — 1,232 Total non-interest income $ 12,500 $ 10,771 $ 23,271 $ 12,520 $ 9,527 $ 22,047 ( 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 March 31, 2024 December 31, 2023, 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 three March 31, 2024 2023. 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 March 31, 2024. |
Note 24 - Leases
Note 24 - Leases | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 24 Leases Bancorp has operating leases for various locations with terms ranging from approximately two five 12 not Balance sheet, income statement and cash flow detail regarding operating leases follows: (dollars in thousands) March 31, 2024 December 31, 2023 Balance Sheet Operating lease right-of-use asset $ 26,300 $ 21,007 Operating lease liability 27,776 22,487 Weighted average remaining lease term (years) 9.7 9.8 Weighted average discount rate 3.39 % 2.84 % Maturities of lease liabilities: One year or less $ 3,033 $ 3,365 Year two 3,596 2,864 Year three 3,290 2,543 Year four 3,298 2,536 Year five 3,324 2,547 Greater than five years 16,183 12,059 Total lease payments $ 32,724 $ 25,914 Less imputed interest 4,948 3,427 Total $ 27,776 $ 22,487 Three months ended Three months ended (in thousands) March 31, 2024 March 31, 2023 Income Statement Components of lease expense: Operating lease cost $ 1,046 $ 840 Variable lease cost 83 71 Less sublease income 26 25 Total lease cost $ 1,103 $ 886 Three months ended Three months ended (in thousands) March 31, 2024 March 31, 2023 Cash flow Statement Supplemental cash flow information: Operating cash flows from operating leases $ 1,328 $ 1,071 As of March 31, 2024, two second 2024. |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. Other Information (c) During the three March 31, 2024, no 16a 1 10b5 1 10b5 1 408 |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
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 2023, 2023 02, Investments Equity Method and Joint Ventures (Topic 323 December 15, 2023 Bancorp adopted this ASU effective January 1, 2024 January 1, 2024 one January 1, 2024, No 2023 02. Accounting Standards Updates not not In November 2023, 2023 07, Segment Reporting (Topic 280 not December 15, 2023 December 15, 2024. not In December 2023, 2023 09, Income Taxes (Topic 740 December 15, 2024 not |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | (in thousands) Amortized Unrealized March 31, 2024 cost Gains Losses Fair value U.S. Treasury and other U.S. Government obligations $ 119,955 $ - $ (2,477 ) $ 117,478 Government sponsored enterprise obligations 96,057 149 (5,310 ) 90,896 Mortgage backed securities - government agencies 768,003 16 (107,399 ) 660,620 Obligations of states and political subdivisions 135,318 3 (14,064 ) 121,257 Other 3,786 - (229 ) 3,557 Total available for sale debt securities $ 1,123,119 $ 168 $ (129,479 ) $ 993,808 December 31, 2023 U.S. Treasury and other U.S. Government obligations $ 119,931 $ - $ (3,662 ) $ 116,269 Government sponsored enterprise obligations 104,677 157 (4,987 ) 99,847 Mortgage backed securities - government agencies 789,145 83 (101,189 ) 688,039 Obligations of states and political subdivisions 136,579 5 (13,094 ) 123,490 Other 3,821 - (287 ) 3,534 Total available for sale debt securities $ 1,154,153 $ 245 $ (123,219 ) $ 1,031,179 |
Debt Securities, Held-to-Maturity [Table Text Block] | (in thousands) Carrying Unrecognized March 31, 2024 value Gains Losses Fair value U.S. Treasury and other U.S. Government obligations $ 153,383 $ - $ (4,190 ) $ 149,193 Government sponsored enterprise obligations 26,756 - (2,639 ) 24,117 Mortgage backed securities - government agencies 205,265 - (26,706 ) 178,559 Total held to maturity debt securities $ 385,404 $ - $ (33,535 ) $ 351,869 December 31, 2023 U.S. Treasury and other U.S. Government obligations $ 203,259 $ - $ (4,932 ) $ 198,327 Government sponsored enterprise obligations 26,918 - (2,457 ) 24,461 Mortgage backed securities - government agencies 209,660 1 (23,930 ) 185,731 Total held to maturity debt securities $ 439,837 $ 1 $ (31,319 ) $ 408,519 |
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 $ 127,223 $ 124,656 $ 151,432 $ 147,357 Due after one year but within five years 37,397 35,288 2,656 2,511 Due after five years but within 10 years 79,825 69,940 25,539 22,941 Due after 10 years 110,671 103,304 512 501 Mortgage backed securities - government agencies 768,003 660,620 205,265 178,559 Total $ 1,123,119 $ 993,808 $ 385,404 $ 351,869 |
Unrealized Gain (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 March 31, 2024 value losses value losses value losses U.S. Treasury and other U.S. Government obligations $ - $ - $ 117,478 $ (2,477 ) $ 117,478 $ (2,477 ) Government sponsored enterprise obligations 4,759 (12 ) 80,067 (5,298 ) 84,826 (5,310 ) Mortgage-backed securities - government agencies 10,421 (113 ) 647,067 (107,286 ) 657,488 (107,399 ) Obligations of states and political subdivisions 10,844 (101 ) 104,919 (13,963 ) 115,763 (14,064 ) Other - - 3,557 (229 ) 3,557 (229 ) Total AFS debt securities $ 26,024 $ (226 ) $ 953,088 $ (129,253 ) $ 979,112 $ (129,479 ) December 31, 2023 U.S. Treasury and other U.S. Government obligations $ - $ - $ 116,269 $ (3,662 ) $ 116,269 $ (3,662 ) Government sponsored enterprise obligations - - 83,675 (4,987 ) 83,675 (4,987 ) Mortgage-backed securities - government agencies 16,346 (95 ) 661,195 (101,094 ) 677,541 (101,189 ) Obligations of states and political subdivisions 6,326 (64 ) 105,179 (13,030 ) 111,505 (13,094 ) Other - - 3,534 (287 ) 3,534 (287 ) Total AFS debt securities $ 22,672 $ (159 ) $ 969,852 $ (123,060 ) $ 992,524 $ (123,219 ) HTM Debt Securities Less than 12 months 12 months or more Total (in thousands) Fair Unrecognized Fair Unrecognized Fair Unrecognized March 31, 2024 value losses value losses value losses U.S. Treasury and other U.S. Government obligations $ - $ - $ 149,193 $ (4,190 ) $ 149,193 $ (4,190 ) Government sponsored enterprise obligations 424 (1 ) 23,681 (2,638 ) 24,105 (2,639 ) Mortgage-backed securities - government agencies 204 (1 ) 178,355 (26,705 ) 178,559 (26,706 ) Total HTM debt securities $ 628 $ (2 ) $ 351,229 $ (33,533 ) $ 351,857 $ (33,535 ) December 31, 2023 U.S. Treasury and other U.S. Government obligations $ - $ - $ 198,327 $ (4,932 ) $ 198,327 $ (4,932 ) Government sponsored enterprise obligations 455 (1 ) 23,967 (2,456 ) 24,422 (2,457 ) Mortgage-backed securities - government agencies - - 185,504 (23,930 ) 185,504 (23,930 ) Total HTM debt securities $ 455 $ (1 ) $ 407,798 $ (31,318 ) $ 408,253 $ (31,319 ) |
Note 3 - Loans and Allowance _2
Note 3 - Loans and Allowance for Credit Losses on Loans (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (in thousands) March 31, 2024 December 31, 2023 Commercial real estate - non-owner occupied $ 1,609,483 $ 1,561,689 Commercial real estate - owner occupied 931,973 907,424 Total commercial real estate 2,541,456 2,469,113 Commercial and industrial - term 864,272 867,380 Commercial and industrial - lines of credit 429,424 439,748 Total commercial and industrial 1,293,696 1,307,128 Residential real estate - owner occupied 723,234 708,893 Residential real estate - non-owner occupied 360,958 358,715 Total residential real estate 1,084,192 1,067,608 Construction and land development 532,183 531,324 Home equity lines of credit 212,443 211,390 Consumer 145,022 145,340 Leases 16,619 15,503 Credits cards 24,104 23,632 Total loans (1) $ 5,849,715 $ 5,771,038 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (in thousands) Three Months Ended March 31, 2024 Beginning Balance Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 22,133 $ (326 ) $ - $ 16 $ 21,823 Commercial real estate - owner occupied 11,667 (441 ) - 4 11,230 Total commercial real estate 33,800 (767 ) - 20 33,053 Commercial and industrial - term 14,359 (673 ) (23 ) 253 13,916 Commercial and industrial - lines of credit 6,495 (441 ) - 204 6,258 Total commercial and industrial 20,854 (1,114 ) (23 ) 457 20,174 Residential real estate - owner occupied 9,316 2,509 (14 ) 15 11,826 Residential real estate - non-owner occupied 4,282 449 - - 4,731 Total residential real estate 13,598 2,958 (14 ) 15 16,557 Construction and land development 7,593 (134 ) - - 7,459 Home equity lines of credit 1,660 4 - 2 1,666 Consumer 1,407 192 (210 ) 111 1,500 Leases 220 12 - - 232 Credit cards 242 24 (15 ) 5 256 Total $ 79,374 $ 1,175 $ (262 ) $ 610 $ 80,897 (in thousands) Three Months Ended March 31, 2023 Beginning Balance Provision for Credit Losses on Loans Charge-offs Recoveries Ending Balance Commercial real estate - non-owner occupied $ 22,641 $ (991 ) $ - $ 19 $ 21,669 Commercial real estate - owner occupied 10,827 602 - - 11,429 Total commercial real estate 33,468 (389 ) - 19 33,098 Commercial and industrial - term 12,991 991 (71 ) 87 13,998 Commercial and industrial - lines of credit 6,389 (364 ) - - 6,025 Total commercial and industrial 19,380 627 (71 ) 87 20,023 Residential real estate - owner occupied 6,717 1,478 - 10 8,205 Residential real estate - non-owner occupied 3,597 546 - 1 4,144 Total residential real estate 10,314 2,024 - 11 12,349 Construction and land development 7,186 (451 ) - - 6,735 Home equity lines of credit 1,613 17 (12 ) - 1,618 Consumer 1,158 88 (199 ) 139 1,186 Leases 201 (2 ) - - 199 Credit cards 211 336 (88 ) 6 465 Total $ 73,531 $ 2,250 $ (370 ) $ 262 $ 75,673 (in thousands) March 31, 2024 Real Estate Accounts Receivable / Equipment Other Total ACL Allocation Commercial real estate - non-owner occupied $ 10,518 $ - $ - $ 10,518 $ 902 Commercial real estate - owner occupied 1,742 - - 1,742 609 Total commercial real estate 12,260 - - 12,260 1,511 Commercial and industrial - term 360 3,085 248 3,693 - Commercial and industrial - lines of credit 2,212 101 - 2,313 620 Total commercial and industrial 2,572 3,186 248 6,006 620 Residential real estate - owner occupied 3,536 - - 3,536 198 Residential real estate - non-owner occupied 579 - - 579 116 Total residential real estate 4,115 - - 4,115 314 Construction and land development - - - - - Home equity lines of credit 515 - - 515 - Consumer - - 347 347 11 Leases - - - - - Credit cards - - - - - Total collateral dependent loans $ 19,462 $ 3,186 $ 595 $ 23,243 $ 2,456 (in thousands) December 31, 2023 Real Estate Accounts Receivable / Equipment Other Total ACL Allocation Commercial real estate - non-owner occupied $ 15,419 $ - $ - $ 15,419 $ 1,604 Commercial real estate - owner occupied 2,586 - - 2,586 812 Total commercial real estate 18,005 - - 18,005 2,416 Commercial and industrial - term 302 4,088 - 4,390 377 Commercial and industrial - lines of credit 2,781 101 - 2,882 708 Total commercial and industrial 3,083 4,189 - 7,272 1,085 Residential real estate - owner occupied 4,205 - - 4,205 198 Residential real estate - non-owner occupied 558 - - 558 116 Total residential real estate 4,763 - - 4,763 314 Construction and land development - - - - - Home equity lines of credit 467 - - 467 - Consumer - - 335 335 18 Leases - - - - - Credit cards - - - - - Total collateral dependent loans $ 26,318 $ 4,189 $ 335 $ 30,842 $ 3,833 |
Financing Receivable, Nonaccrual [Table Text Block] | Non-accrual Loans Past Due 90-Days- (in thousands) With No Total or-More and Still March 31, 2024 Recorded ACL Non-accrual Accruing Interest Commercial real estate - non-owner occupied $ 3,025 $ 4,103 $ — Commercial real estate - owner occupied — 849 — Total commercial real estate 3,025 4,952 — Commercial and industrial - term 3,083 3,974 22 Commercial and industrial - lines of credit — — — Total commercial and industrial 3,083 3,974 22 Residential real estate - owner occupied 265 3,783 — Residential real estate - non-owner occupied — 393 — Total residential real estate 265 4,176 — Construction and land development — — — Home equity lines of credit 321 515 — Consumer — 353 — Leases — — — Credit cards — 14 84 Total $ 6,694 $ 13,984 $ 106 Non-accrual Loans Past Due 90-Days- (in thousands) With No Total or-More and Still December 31, 2023 Recorded ACL Non-accrual Accruing Interest Commercial real estate - non-owner occupied $ 1,714 $ 8,649 $ — Commercial real estate - owner occupied — 885 — Total commercial real estate 1,714 9,534 — Commercial and industrial - term 688 4,456 — Commercial and industrial - lines of credit — 215 — Total commercial and industrial 688 4,671 — Residential real estate - owner occupied 230 3,667 — Residential real estate - non-owner occupied — 372 — Total residential real estate 230 4,039 — Construction and land development — — — Home equity lines of credit 343 467 — Consumer — 337 — Leases — — — Credit cards — 10 110 Total $ 2,975 $ 19,058 $ 110 |
Financing Receivable, Past Due [Table Text Block] | (in thousands) 30-59 days 60-89 days 90 or more Total Past Total March 31, 2024 Current Past Due Past Due days Past Due Due Loans Loans Commercial real estate - non-owner occupied $ 1,608,139 $ 1 $ 232 $ 1,111 $ 1,344 $ 1,609,483 Commercial real estate - owner occupied 929,996 1,717 189 71 1,977 931,973 Total commercial real estate 2,538,135 1,718 421 1,182 3,321 2,541,456 Commercial and industrial - term 862,153 489 982 648 2,119 864,272 Commercial and industrial - lines of credit 429,117 300 7 — 307 429,424 Total commercial and industrial 1,291,270 789 989 648 2,426 1,293,696 Residential real estate - owner occupied 713,275 5,908 1,897 2,154 9,959 723,234 Residential real estate - non-owner occupied 360,153 407 135 263 805 360,958 Total residential real estate 1,073,428 6,315 2,032 2,417 10,764 1,084,192 Construction and land development 532,183 — — — — 532,183 Home equity lines of credit 211,825 406 18 194 618 212,443 Consumer 144,374 257 148 243 648 145,022 Leases 16,619 — — — — 16,619 Credit cards 23,768 243 9 84 336 24,104 Total $ 5,831,602 $ 9,728 $ 3,617 $ 4,768 $ 18,113 $ 5,849,715 (in thousands) 30-59 days 60-89 days 90 or more Total Past Total December 31, 2023 Current Past Due Past Due days Past Due Due Loans Loans Commercial real estate - non-owner occupied $ 1,558,756 $ 768 $ 318 $ 1,847 $ 2,933 $ 1,561,689 Commercial real estate - owner occupied 906,385 758 260 21 1,039 907,424 Total commercial real estate 2,465,141 1,526 578 1,868 3,972 2,469,113 Commercial and industrial - term 866,089 244 2 1,045 1,291 867,380 Commercial and industrial - lines of credit 439,671 77 — — 77 439,748 Total commercial and industrial 1,305,760 321 2 1,045 1,368 1,307,128 Residential real estate - owner occupied 699,475 5,290 1,612 2,516 9,418 708,893 Residential real estate - non-owner occupied 357,763 621 94 237 952 358,715 Total residential real estate 1,057,238 5,911 1,706 2,753 10,370 1,067,608 Construction and land development 531,324 — — — — 531,324 Home equity lines of credit 210,823 67 33 467 567 211,390 Consumer 144,640 258 145 297 700 145,340 Leases 15,503 — — — — 15,503 Credit cards 23,287 191 44 110 345 23,632 Total $ 5,753,716 $ 8,274 $ 2,508 $ 6,540 $ 17,322 $ 5,771,038 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized March 31, 2024 2024 2023 2022 2021 2020 Prior cost basis Total Commercial real estate - non-owner occupied: Risk rating Pass $ 113,686 $ 292,164 $ 377,178 $ 310,974 $ 215,516 $ 244,789 $ 20,113 $ 1,574,420 OAEM 2,316 1,772 - 2,886 - 5,601 - 12,575 Substandard - 290 1,093 991 3,546 12,367 98 18,385 Substandard non-performing 2,708 76 284 - - 1,035 - 4,103 Doubtful - - - - - - - - Total Commercial real estate non-owner occupied $ 118,710 $ 294,302 $ 378,555 $ 314,851 $ 219,062 $ 263,792 $ 20,211 $ 1,609,483 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - owner occupied: Risk rating Pass $ 38,226 $ 148,512 $ 176,211 $ 185,807 $ 169,607 $ 176,632 $ 14,950 $ 909,945 OAEM 2,316 2,325 220 1,683 742 1,397 - 8,683 Substandard 2,862 622 4,218 - 4,334 460 - 12,496 Substandard non-performing - - - 778 71 - - 849 Doubtful - - - - - - - - Total Commercial real estate owner occupied $ 43,404 $ 151,459 $ 180,649 $ 188,268 $ 174,754 $ 178,489 $ 14,950 $ 931,973 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial - term: Risk rating Pass $ 62,850 $ 250,419 $ 279,708 $ 151,918 $ 49,446 $ 46,339 $ - $ 840,680 OAEM 4,072 3,807 781 2,218 75 122 - 11,075 Substandard - 5,121 2,281 18 875 248 - 8,543 Substandard non-performing - 3,054 305 226 302 87 - 3,974 Doubtful - - - - - - - - Total Commercial and industrial - term $ 66,922 $ 262,401 $ 283,075 $ 154,380 $ 50,698 $ 46,796 $ - $ 864,272 Current period gross charge offs $ - $ (23 ) $ - $ - $ - $ - $ - $ (23 ) Commercial and industrial - lines of credit Risk rating Pass $ 13,843 $ 18,796 $ 11,216 $ 3,066 $ 337 $ 7,895 $ 343,653 $ 398,806 OAEM 5,382 - - - - 14 22,403 27,799 Substandard - - - - - - 2,819 2,819 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Commercial and industrial - lines of credit $ 19,225 $ 18,796 $ 11,216 $ 3,066 $ 337 $ 7,909 $ 368,875 $ 429,424 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized March 31, 2024 2024 2023 2022 2021 2020 Prior cost basis Total Residential real estate - owner occupied Risk rating Pass $ 27,388 $ 167,859 $ 174,431 $ 172,838 $ 84,750 $ 91,731 $ - $ 718,997 OAEM - - - 88 - - - 88 Substandard - - 14 - - 352 - 366 Substandard non-performing - 1,727 1,088 189 182 597 - 3,783 Doubtful - - - - - - - - Total Residential real estate - owner occupied $ 27,388 $ 169,586 $ 175,533 $ 173,115 $ 84,932 $ 92,680 $ - $ 723,234 Current period gross charge offs $ - $ (14 ) $ - $ - $ - $ - $ - $ (14 ) Residential real estate - non-owner occupied Risk rating Pass $ 17,699 $ 75,801 $ 82,460 $ 76,341 $ 47,211 $ 60,216 $ - $ 359,728 OAEM - - 4 - - 524 - 528 Substandard - - - - - 309 - 309 Substandard non-performing - - 226 19 - 148 - 393 Doubtful - - - - - - - - Total Residential real estate - non-owner occupied $ 17,699 $ 75,801 $ 82,690 $ 76,360 $ 47,211 $ 61,197 $ - $ 360,958 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Construction and land development Risk rating Pass $ 52,693 $ 167,237 $ 213,365 $ 60,291 $ 10,522 $ 4,013 $ 13,909 $ 522,030 OAEM 3,683 - - - - - 999 4,682 Substandard 2,298 3,173 - - - - - 5,471 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Construction and land development $ 58,674 $ 170,410 $ 213,365 $ 60,291 $ 10,522 $ 4,013 $ 14,908 $ 532,183 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity lines of credit Risk rating Pass $ - $ - $ - $ - $ - $ - $ 211,891 $ 211,891 OAEM - - - - - - - - Substandard - - - - - - 37 37 Substandard non-performing - - - - - - 515 515 Doubtful - - - - - - - - Total Home equity lines of credit $ - $ - $ - $ - $ - $ - $ 212,443 $ 212,443 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Consumer Risk rating Pass $ 7,341 $ 25,424 $ 17,140 $ 8,213 $ 2,332 $ 2,953 $ 81,266 $ 144,669 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - 152 62 86 26 27 - 353 Doubtful - - - - - - - - Total Consumer $ 7,341 $ 25,576 $ 17,202 $ 8,299 $ 2,358 $ 2,980 $ 81,266 $ 145,022 Current period gross charge offs $ (153 ) $ (6 ) $ - $ (13 ) $ (2 ) $ (33 ) $ (3 ) $ (210 ) Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized March 31, 2024 2024 2023 2022 2021 2020 Prior cost basis Total Leases Risk rating Pass $ 2,634 $ 6,486 $ 3,182 $ 2,667 $ 1,336 $ 314 $ - $ 16,619 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Leases $ 2,634 $ 6,486 $ 3,182 $ 2,667 $ 1,336 $ 314 $ - $ 16,619 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Credit cards Risk rating Pass $ - $ - $ - $ - $ - $ - $ 24,090 $ 24,090 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - 14 14 Doubtful - - - - - - - - Total Credit cards $ - $ - $ - $ - $ - $ - $ 24,104 $ 24,104 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (15 ) $ (15 ) Total loans Risk rating Pass $ 336,360 $ 1,152,698 $ 1,334,891 $ 972,115 $ 581,057 $ 634,882 $ 709,872 $ 5,721,875 OAEM 17,769 7,904 1,005 6,875 817 7,658 23,402 65,430 Substandard 5,160 9,206 7,606 1,009 8,755 13,736 2,954 48,426 Substandard non-performing 2,708 5,009 1,965 1,298 581 1,894 529 13,984 Doubtful - - - - - - - - Total Loans $ 361,997 $ 1,174,817 $ 1,345,467 $ 981,297 $ 591,210 $ 658,170 $ 736,757 $ 5,849,715 Current period gross charge offs $ (153 ) $ (43 ) $ - $ (13 ) $ (2 ) $ (33 ) $ (18 ) $ (262 ) Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized December 31, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Commercial real estate - non-owner occupied: Risk rating Pass $ 302,787 $ 370,728 $ 346,600 $ 220,144 $ 122,732 $ 136,624 $ 26,187 $ 1,525,802 OAEM 76 - 2,902 - 1,947 3,727 - 8,652 Substandard 290 1,093 997 3,587 12,278 243 98 18,586 Substandard non-performing 5,806 286 - - 1,472 1,085 - 8,649 Doubtful - - - - - - - - Total Commercial real estate non-owner occupied $ 308,959 $ 372,107 $ 350,499 $ 223,731 $ 138,429 $ 141,679 $ 26,285 $ 1,561,689 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - owner occupied: Risk rating Pass $ 148,498 $ 164,087 $ 191,350 $ 179,450 $ 90,575 $ 100,988 $ 13,941 $ 888,889 OAEM 4,175 221 592 757 395 691 - 6,831 Substandard 1,675 4,258 - 4,370 458 58 - 10,819 Substandard non-performing - 21 793 71 - - - 885 Doubtful - - - - - - - - Total Commercial real estate owner occupied $ 154,348 $ 168,587 $ 192,735 $ 184,648 $ 91,428 $ 101,737 $ 13,941 $ 907,424 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial - term: Risk rating Pass $ 279,002 $ 298,204 $ 172,288 $ 56,949 $ 24,939 $ 26,790 $ - $ 858,172 OAEM 585 819 2,520 87 139 - - 4,150 Substandard 218 80 31 - - 273 - 602 Substandard non-performing 3,395 592 29 338 101 1 - 4,456 Doubtful - - - - - - - - Total Commercial and industrial - term $ 283,200 $ 299,695 $ 174,868 $ 57,374 $ 25,179 $ 27,064 $ - $ 867,380 Current period gross charge offs $ (1,315 ) $ (734 ) $ (37 ) $ (93 ) $ (37 ) $ (82 ) $ - $ (2,298 ) Commercial and industrial - lines of credit Risk rating Pass $ 30,553 $ 22,409 $ 3,232 $ 348 $ 8,931 $ 1,783 $ 356,237 $ 423,493 OAEM - - - 723 20 - 8,585 9,328 Substandard - - - - - - 6,712 6,712 Substandard non-performing 157 - - - - - 58 215 Doubtful - - - - - - - - Total Commercial and industrial - lines of credit $ 30,710 $ 22,409 $ 3,232 $ 1,071 $ 8,951 $ 1,783 $ 371,592 $ 439,748 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (3,633 ) $ (3,633 ) Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized December 31, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Residential real estate - owner occupied Risk rating Pass $ 170,446 $ 178,088 $ 175,561 $ 86,105 $ 24,354 $ 70,213 $ - $ 704,767 OAEM - - 89 - - - - 89 Substandard - 15 - - - 355 - 370 Substandard non-performing 1,138 1,122 297 192 162 756 - 3,667 Doubtful - - - - - - - - Total Residential real estate - owner occupied $ 171,584 $ 179,225 $ 175,947 $ 86,297 $ 24,516 $ 71,324 $ - $ 708,893 Current period gross charge offs $ - $ - $ - $ - $ - $ (43 ) $ - $ (43 ) Residential real estate - non-owner occupied Risk rating Pass $ 83,913 $ 84,278 $ 77,868 $ 49,555 $ 31,325 $ 30,546 $ - $ 357,485 OAEM - 7 - - 262 277 - 546 Substandard - - - - - 312 - 312 Substandard non-performing - 233 19 - 45 75 - 372 Doubtful - - - - - - - - Total Residential real estate - non-owner occupied $ 83,913 $ 84,518 $ 77,887 $ 49,555 $ 31,632 $ 31,210 $ - $ 358,715 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Construction and land development Risk rating Pass $ 157,832 $ 239,807 $ 69,131 $ 34,591 $ 478 $ 3,711 $ 15,623 $ 521,173 OAEM - - 3,682 - - - 999 4,681 Substandard 5,470 - - - - - - 5,470 Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Construction and land development $ 163,302 $ 239,807 $ 72,813 $ 34,591 $ 478 $ 3,711 $ 16,622 $ 531,324 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity lines of credit Risk rating Pass $ - $ - $ - $ - $ - $ - $ 210,886 $ 210,886 OAEM - - - - - - - - Substandard - - - - - - 37 37 Substandard non-performing - - - - - - 467 467 Doubtful - - - - - - - - Total Home equity lines of credit $ - $ - $ - $ - $ - $ - $ 211,390 $ 211,390 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (12 ) $ (12 ) Consumer Risk rating Pass $ 30,823 $ 18,399 $ 10,148 $ 2,832 $ 1,931 $ 1,765 $ 79,105 $ 145,003 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing 41 145 91 27 3 14 16 337 Doubtful - - - - - - - - Total Consumer $ 30,864 $ 18,544 $ 10,239 $ 2,859 $ 1,934 $ 1,779 $ 79,121 $ 145,340 Current period gross charge offs $ (683 ) $ (22 ) $ (29 ) $ (43 ) $ (41 ) $ (27 ) $ (20 ) $ (865 ) Revolving loans (in thousands) Term Loans Amortized Cost Basis by Origination Year amortized December 31, 2023 2023 2022 2021 2020 2019 Prior cost basis Total Leases Risk rating Pass $ 6,801 $ 3,442 $ 3,117 $ 1,723 $ 155 $ 265 $ - $ 15,503 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - - - Doubtful - - - - - - - - Total Leases $ 6,801 $ 3,442 $ 3,117 $ 1,723 $ 155 $ 265 $ - $ 15,503 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ - $ - Credit cards Risk rating Pass $ - $ - $ - $ - $ - $ - $ 23,622 $ 23,622 OAEM - - - - - - - - Substandard - - - - - - - - Substandard non-performing - - - - - - 10 10 Doubtful - - - - - - - - Total Credit cards $ - $ - $ - $ - $ - $ - $ 23,632 $ 23,632 Current period gross charge offs $ - $ - $ - $ - $ - $ - $ (661 ) $ (661 ) Total loans Risk rating Pass $ 1,207,296 $ 1,379,117 $ 1,047,901 $ 630,129 $ 305,493 $ 379,258 $ 725,601 $ 5,674,795 OAEM 4,836 1,047 9,785 1,567 2,763 4,695 9,584 34,277 Substandard 7,653 5,446 1,028 7,957 12,736 1,241 6,847 42,908 Substandard non-performing 10,537 2,399 1,229 628 1,783 1,931 551 19,058 Doubtful - - - - - - - - Total Loans $ 1,230,322 $ 1,388,009 $ 1,059,943 $ 640,281 $ 322,775 $ 387,125 $ 742,583 $ 5,771,038 Current period gross charge offs $ (1,998 ) $ (756 ) $ (66 ) $ (136 ) $ (78 ) $ (152 ) $ (4,326 ) $ (7,512 ) |
Financinng Receivable, Schedule of Payment Activity [Table Text Block] | March 31, December 31, (in thousands) 2024 2023 Credit cards Performing $ 24,006 $ 23,512 Non-performing 98 120 Total credit cards $ 24,104 $ 23,632 |
Note 4 - Goodwill (Tables)
Note 4 - Goodwill (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | March 31, December 31, (in thousands) 2024 2023 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 5 - Core Deposit and Cus_2
Note 5 - Core Deposit and Customer List Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Three months ended March 31, (in thousands) 2024 2023 Balance at beginning of period $ 11,944 $ 14,958 Amortization (672 ) (762 ) Balance at end of period $ 11,272 $ 14,196 Three months ended March 31, (in thousands) 2024 2023 Balance at beginning of period $ 8,360 $ 10,032 Amortization (380 ) (418 ) Balance at end of period $ 7,980 $ 9,614 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (in thousands) CDI CLI Remainder of 2024 $ 2,015 $ 1,140 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 $ 11,272 $ 7,980 |
Note 6 - Other Assets (Tables)
Note 6 - Other Assets (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | March 31, December 31, (in thousands) 2024 2023 Cash surrender value of life insurance other than BOLI $ 18,773 $ 17,843 Net deferred tax asset 49,181 47,236 Investments in tax credit partnerships 173,055 175,056 Swap assets 10,823 5,133 Prepaid assets 6,255 5,873 WM&T fees receivable 4,551 4,205 Mortgage servicing rights 12,544 13,082 Other real estate owned 10 10 Other 72,420 18,922 Total other assets $ 347,612 $ 287,360 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three months ended March 31, (in thousands) 2024 2023 Current income tax expense: Federal $ 5,116 $ 5,194 State 1,198 677 Total current income tax expense 6,314 5,871 Deferred income tax expense: Federal 587 1,417 State 167 844 Total deferred income tax expense 754 2,261 Change in valuation allowance - - Total income tax expense $ 7,068 $ 8,132 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three months ended March 31, 2024 2023 U.S. federal statutory income tax rate 21.0 % 21.0 % State income taxes, net of federal benefit 3.3 3.3 Excess tax benefit from stock-based compensation arrangements 0.3 (1.1 ) Change in cash surrender value of life insurance (1.0 ) (0.7 ) Adoption of ASU 2023-02 (1.3 ) - Tax credits 0.6 0.4 Tax exempt interest income (0.5 ) (0.5 ) Insurance captive - (0.3 ) Other, net (0.9 ) (0.2 ) Effective tax rate 21.5 % 21.9 % |
Schedule of Unfunded Contributions [Table Text Block] | (dollars in thousands) March 31, 2024 Remainder of 2024 $ 35,791 2025 62,830 2026 33,634 2027 7,136 2028 793 Thereafter 13,117 Total unfunded contributions $ 153,301 |
Schedule Of Tax Credits And Other Tax Benefits Recognized And Amortization Expense Related To Tax Credit Partnerships [Table Text Block] | Three months ended March 31, (in thousands) 2024 2023 Proportional amortization method: Tax credits and other tax benefits recognized $ 3,551 $ 350 Amortization expense in provision for income taxes 2,853 398 Amortization expense in other non-interest expense - 323 Effective yield method: Tax credits and other tax benefits recognized $ - $ 399 Amortization expense in provision for income taxes - - Amortization expense in other non-interest expense - - |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | (in thousands) March 31, 2024 December 31, 2023 Non-interest bearing demand deposits $ 1,481,217 $ 1,548,624 Interest bearing deposits: Interest bearing demand 2,414,118 2,480,357 Savings 436,501 438,834 Money market 1,241,822 1,219,656 Time deposits of $250 thousand or more 288,861 279,474 Other time deposits 746,561 703,803 Total time deposits (1) 1,035,422 983,277 Total interest bearing deposits 5,127,863 5,122,124 Total deposits $ 6,609,080 $ 6,670,748 |
Note 9 - Securities Sold Unde_2
Note 9 - Securities Sold Under Agreements to Repurchase (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Short-Term Debt [Table Text Block] | (dollars in thousands) March 31, 2024 December 31, 2023 Outstanding balance at end of period $ 162,528 $ 152,991 Weighted average interest rate at end of period 2.09 % 2.23 % Three months ended March 31, (dollars in thousands) 2024 2023 Average outstanding balance during the period $ 164,979 $ 122,049 Average interest rate during the period 2.27 % 1.52 % Maximum outstanding at any month end during the period $ 179,428 $ 133,740 |
Note 10 - Subordinated Debent_2
Note 10 - Subordinated Debentures (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 $ 3,093 12/19/2003 1/7/2034 SOFR Commonwealth Statutory Trust IV 12,372 12,372 12/15/2005 12/30/2035 SOFR + 1.35% Commonwealth Statutory Trust V 11,341 11,341 6/28/2007 9/15/2037 SOFR + 1.40% Total $ 26,806 $ 26,806 |
Note 11 - FHLB Advances and O_2
Note 11 - FHLB Advances and Other Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Maturities and Average Effective Interest Rates of Federal Home Loan Bank Advances Disclosure [Table Text Block] | (dollars in thousands) March 31, 2024 December 31, 2023 Outstanding balance at end of period $ 200,000 $ 200,000 Weighted average interest rate at end of period 4.04 % 4.11 % |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Off Balance Sheet Commitments to Extend Credit [Table Text Block] | (in thousands) March 31, 2024 December 31, 2023 Commercial and industrial $ 927,870 $ 897,673 Construction and development 634,705 606,668 Home equity lines of credit 387,244 381,110 Credit cards 84,209 83,700 Overdrafts 55,926 55,124 Standby letters of credit 35,627 33,778 Other 87,732 100,447 Future loan commitments 324,784 298,164 Total off balance sheet commitments to extend credit $ 2,538,097 $ 2,456,664 |
Note 13 - Assets and Liabilit_2
Note 13 - Assets and Liabilities Measured and Reported at Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using: Total March 31, 2024 (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 $ 117,478 $ — $ — $ 117,478 Government sponsored enterprise obligations — 90,896 — 90,896 Mortgage backed securities - government agencies — 660,620 — 660,620 Obligations of states and political subdivisions — 121,257 — 121,257 Other — 3,557 — 3,557 Total available for sale debt securities 117,478 876,330 — 993,808 Mortgage loans held for sale — 6,462 — 6,462 Rate lock loan commitments — 452 — 452 Interest rate swap assets — 10,823 — 10,823 Total assets $ 117,478 $ 894,067 $ — $ 1,011,545 Liabilities: Interest rate swap liabilities $ — $ 7,743 $ — $ 7,743 Mandatory forward contracts — 41 — 41 Total liabilities $ — $ 7,784 $ — $ 7,784 Fair Value Measurements Using: Total December 31, 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 $ 116,269 $ — $ — $ 116,269 Government sponsored enterprise obligations — 99,847 — 99,847 Mortgage backed securities - government agencies — 688,039 — 688,039 Obligations of states and political subdivisions — 123,490 — 123,490 Other — 3,534 — 3,534 Total available for sale debt securities 116,269 914,910 — 1,031,179 Mortgage loans held for sale — 6,056 — 6,056 Rate lock loan commitments — 174 — 174 Interest rate swap assets — 5,133 — 5,133 Total assets $ 116,269 $ 926,273 $ — $ 1,042,542 Liabilities: Interest rate swap liabilities $ — $ 5,378 $ — $ 5,378 Mandatory forward contracts — 43 — 43 Total liabilities $ — $ 5,421 $ — $ 5,421 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Losses recorded Three months Fair Value Measurements Using: Total ended March 31, 2024 (in thousands) Level 1 Level 2 Level 3 Fair Value March 31, 2024 Collateral dependent loans $ — $ — $ 7,632 $ 7,632 $ 4 Other real estate owned — — 10 10 — Losses recorded Three months Fair Value Measurements Using: Total ended December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Fair Value March 31, 2023 Collateral dependent loans $ — $ — $ 13,561 $ 13,561 $ — Other real estate owned — — 10 10 — |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | March 31, 2024 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Collateral dependent loans $ 7,632 Appraisal Appraisal discounts 8.4 % Other real estate owned 10 Appraisal Appraisal discounts 93.0 December 31, 2023 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Collateral dependend loans $ 13,561 Appraisal Appraisal discounts 18.0 % Other real estate owned 10 Appraisal Appraisal discounts 93.0 |
Note 14 - Disclosure of Finan_2
Note 14 - Disclosure of Financial Instruments Not Reported at Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Fair Value Measurements Using: March 31, 2024 (in thousands) amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 160,223 $ 160,223 $ 160,223 $ — $ — HTM debt securities 385,404 351,869 149,193 202,676 — Federal Home Loan Bank stock 24,675 24,675 — 24,675 — Loans, net 5,768,818 5,594,312 — — 5,594,312 Accrued interest receivable 26,074 26,074 26,074 — — Liabilities Non-interest bearing deposits $ 1,481,217 $ 1,481,217 $ 1,481,217 $ — $ — Transaction deposits 4,092,441 4,092,441 — 4,092,441 — Time deposits 1,035,422 1,029,116 — 1,029,116 — Securities sold under agreement to repurchase 162,528 162,528 — 162,528 — Federal funds purchased 9,961 9,961 — 9,961 — Subordinated debentures 26,806 25,896 — 25,896 — FHLB advances 200,000 193,213 — 193,213 — Accrued interest payable 2,194 2,194 2,194 — — Carrying Fair Value Measurements Using: December 31, 2023 (in thousands) amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 265,959 $ 265,959 $ 265,959 $ — $ — HTM debt securities 439,837 408,519 198,327 210,192 — Federal Home Loan Bank stock 16,236 16,236 — 16,236 — Loans, net 5,691,664 5,520,059 — — 5,520,059 Accrued interest receivable 26,830 26,830 26,830 — — Liabilities Non-interest bearing deposits $ 1,548,624 $ 1,548,624 $ 1,548,624 $ — $ — Transaction deposits 4,138,847 4,138,847 — 4,138,847 — Time deposits 983,277 976,841 — 976,841 — Securities sold under agreement to repurchase 152,991 152,991 — 152,991 — Federal funds purchased 12,852 12,852 — 12,852 — Subordinated debentures 26,740 26,746 — 26,746 — FHLB advances 200,000 200,047 — 200,047 — Accrued interest payable 2,094 2,094 2,094 — — |
Note 15 - Mortgage Banking Ac_2
Note 15 - Mortgage Banking Activities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Disclosure of Long-Lived Assets Held-for-Sale [Table Text Block] | Three months ended March 31, (in thousands) 2024 2023 Balance, beginning of period: $ 6,056 $ 2,606 Origination of mortgage loans held for sale 22,617 24,683 Proceeds from the sale of mortgage loans held for sale (22,552 ) (21,107 ) Net gain realized on sale of mortgage loans held for sale 341 215 Balance, end of period $ 6,462 $ 6,397 |
Interest and Other Income [Table Text Block] | Three months ended March 31, (in thousands) 2024 2023 Net gain realized on sale of mortgage loans held for sale $ 341 $ 215 Net change in fair value recognized on loans held for sale 33 50 Net change in fair value recognized on rate lock loan commitments 257 330 Net change in fair value recognized on forward contracts 28 (47 ) Net gain recognized 659 548 Net loan servicing income 960 1,188 Amortization of mortgage servicing rights (738 ) (761 ) Change in mortgage servicing rights valuation allowance - - Net servicing income recognized 222 427 Other mortgage banking income 67 63 Total mortgage banking income $ 948 $ 1,038 |
Changes in Carrying Amount of MSRs [Table Text Block] | Three months ended March 31, (in thousands) 2024 2023 Balance, beginning of period $ 13,082 $ 15,219 Additions for mortgage loans sold 200 165 Amortization (738 ) (761 ) Impairment — — Balance, end of period $ 12,544 $ 14,623 |
Mortgage Loans Held for Sale and Mortgage Banking Derivatives [Table Text Block] | March 31, 2024 December 31, 2023 (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 $ 6,338 $ 6,462 $ 5,965 $ 6,056 Included in other assets: Rate lock loan commitments $ 11,626 $ 452 $ 4,345 $ 174 Included in other liabilities Mandatory forward contracts $ 13,250 $ (41 ) $ 6,750 $ (43 ) |
Note 16 - Accumulated Other C_2
Note 16 - Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Net unrealized Net unrealized Minimum gains (losses) gains (losses) pension on available for on cash liability (in thousands) sale debt securities flow hedges adjustment Total Three months ended March 31, 2024 Balance, beginning of period $ (92,678 ) $ (179 ) $ 59 $ (92,798 ) Net current period other comprehensive loss (4,775 ) 2,519 - (2,256 ) Balance, end of period $ (97,453 ) $ 2,340 $ 59 $ (95,054 ) Three months ended March 31, 2023 Balance, beginning of period $ (115,648 ) $ - $ 112 $ (115,536 ) Net current period other comprehensive income 14,217 376 - 14,593 Balance, end of period $ (101,431 ) $ 376 $ 112 $ (100,943 ) |
Note 18 - Net Income Per Share
Note 18 - Net Income Per Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, (in thousands, except per share data) 2024 2023 Net income available to stockholders $ 25,887 $ 29,048 Weighted average shares outstanding - basic 29,250 29,178 Dilutive securities 111 187 Weighted average shares outstanding- diluted 29,361 29,365 Net income per share - basic $ 0.89 $ 1.00 Net income per share - diluted 0.88 0.99 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three months ended (shares in thousands) March 31, 2024 2023 Antidilutive SARs 115 48 |
Note 19 - Stock-based Compens_2
Note 19 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award Fair Value Assumptions and Methodology [Table Text Block] | Assumptions 2024 2023 Dividend yield 2.29 % 2.24 % Expected volatility 28.43 % 27.20 % Risk free interest rate 4.16 % 3.84 % Expected life (in years) 7.1 7.1 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended March 31, 2024 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 69 $ 420 $ 124 $ 329 $ 942 Deferred tax benefit (14 ) (88 ) (26 ) (69 ) (197 ) Total net expense $ 55 $ 332 $ 98 $ 260 $ 745 Three months ended March 31, 2023 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 99 $ 412 $ 132 $ 509 $ 1,152 Deferred tax benefit (21 ) (87 ) (28 ) (107 ) (243 ) Total net expense $ 78 $ 325 $ 104 $ 402 $ 909 |
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 2024 $ 284 $ 1,330 $ 375 $ 712 $ 2,701 2025 336 1,567 1 606 2,510 2026 286 1,268 — — 1,554 2027 216 918 — — 1,134 2028 126 462 — — 588 2029 11 37 — — 48 Total estimated future expense $ 1,259 $ 5,582 $ 376 $ 1,318 $ 8,535 |
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, 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 (24 ) 19.37 - 19.37 19.37 681 3.58 Forfeited — — — — — Outstanding, December 31, 2023 440 $19.44 - $74.92 $ 38.11 $ 6,297 $ 6.86 4.7 Outstanding, January 1, 2024 440 $19.44 - $74.92 $ 38.11 $ 6,297 $ 6.86 4.7 Granted 42 47.95 - 54.92 49.20 — 13.75 Exercised (1 ) 45.76 - 45.76 24.56 32 3.97 Forfeited — — — — — Outstanding, March 31, 2024 481 $19.44 - $74.92 $ 39.12 $ 5,371 $ 7.47 4.9 Vested and exercisable 378 $19.44 - $60.76 $ 35.70 $ 5,212 $ 6.00 3.9 Unvested 103 36.65 - 74.92 51.61 (279 ) 12.80 3.9 Outstanding, March 31, 2024 481 $19.44 - $74.92 $ 39.12 $ 5,371 $ 7.47 4.9 Vested in the current year 43 $36.65 - $60.76 $ 47.37 $ 66 $ 9.87 |
Schedule of Nonvested Share Activity [Table Text Block] | Grant date weighted (in thousands, except per share data) RSAs average cost Unvested at January 1, 2023 96 $ 47.26 Shares awarded 38 63.04 Restrictions lapsed and shares released (33 ) 43.77 Shares cancelled (3 ) 53.38 Unvested at December 31, 2023 98 $ 54.23 Unvested at January 1, 2024 98 $ 54.23 Shares awarded 44 48.74 Restrictions lapsed and shares released (31 ) 49.15 Shares cancelled (1 ) 55.44 Unvested at March 31, 2024 110 $ 53.49 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Vesting Shares Grant period Fair expected to year in years value be awarded 2022 3 48.48 14,538 2023 3 54.33 13,402 2024 3 41.84 34,452 |
Note 20 - Derivative Financia_2
Note 20 - Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | Fair value (dollars in thousands) Pay fixed March 31, Notional Amount Maturity Date Receive (variable) index swap rate 2024 $ 100,000 2/6/2028 USD SOFR 3.27 % $ 2,988 50,000 8/6/2026 USD SOFR 4.38 % 16 50,000 8/6/2028 USD SOFR 3.97 % 84 $ 200,000 $ 3,088 |
Not Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | Receiving Paying March, 31 December 31, March, 31 December 31, (dollars in thousands) 2024 2023 2024 2023 Notional amount $ 200,074 $ 201,555 $ 200,074 $ 201,555 Weighted average maturity (years) 5.7 6.0 5.7 6.0 Fair value $ 7,735 $ 5,133 $ 7,743 $ 5,142 |
Note 21 - Regulatory Matters (T
Note 21 - Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 872,434 12.69 % $ 549,896 8.00 % NA NA Bank 847,856 12.37 548,183 8.00 $ 685,228 10.00 % Common equity tier 1 risk-based capital (1) Consolidated 763,818 11.11 309,316 4.50 NA NA Bank 765,240 11.17 308,353 4.50 445,398 6.50 Tier 1 risk-based capital (1) Consolidated 789,818 11.49 412,422 6.00 NA NA Bank 765,240 11.17 411,137 6.00 548,183 8.00 Leverage Consolidated 789,818 9.82 321,766 4.00 NA NA Bank 765,240 9.52 321,523 4.00 401,903 5.00 (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2023 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 849,836 12.56 % $ 541,370 8.00 % NA NA Bank 823,275 12.21 539,609 8.00 $ 674,511 10.00 % Common equity tier 1 risk-based capital (1) Consolidated 747,376 11.04 304,521 4.50 NA NA Bank 746,815 11.07 303,530 4.50 438,432 6.50 Tier 1 risk-based capital (1) Consolidated 773,376 11.43 406,027 6.00 NA NA Bank 746,815 11.07 404,707 6.00 539,609 8.00 Leverage Consolidated 773,376 9.62 321,713 4.00 NA NA Bank 746,815 9.30 321,323 4.00 401,654 5.00 |
Note 22 - Segments (Tables)
Note 22 - Segments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 Commercial Commercial (in thousands) Banking WM&T Total Banking WM&T Total Net interest income $ 59,794 $ 276 $ 60,070 $ 62,944 $ 128 $ 63,072 Provision for credit losses 1,425 — 1,425 2,625 — 2,625 Wealth management and trust services — 10,771 10,771 — 9,527 9,527 All other non-interest income 12,500 — 12,500 12,520 — 12,520 Non-interest expenses 42,979 5,982 48,961 39,600 5,714 45,314 Income before income tax expense 27,890 5,065 32,955 33,239 3,941 37,180 Income tax expense 5,969 1,099 7,068 7,277 855 8,132 Net income $ 21,921 $ 3,966 $ 25,887 $ 25,962 $ 3,086 $ 29,048 Segment assets $ 8,087,998 $ 35,130 $ 8,123,128 $ 7,631,031 $ 36,617 $ 7,667,648 |
Note 23 - Revenue From Contra_2
Note 23 - Revenue From Contracts With Customers (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended March 31, 2024 Three months ended March 31, 2023 (in thousands) Commercial Banking WM&T Total Commercial Banking WM&T Total Wealth management and trust services $ — $ 10,771 $ 10,771 $ — $ 9,527 $ 9,527 Deposit service charges 2,136 — 2,136 2,149 — 2,149 Debit and credit card income 4,682 — 4,682 4,482 — 4,482 Treasury management fees 2,625 — 2,625 2,318 — 2,318 Mortgage banking income (1) 948 — 948 1,038 — 1,038 Net investment product sales commissions and fees 865 — 865 754 — 754 Bank owned life insurance (1) 588 — 588 549 — 549 Loss on sale of premises and equipment (1) — — — (2 ) — (2 ) Other (2) 656 — 656 1,232 — 1,232 Total non-interest income $ 12,500 $ 10,771 $ 23,271 $ 12,520 $ 9,527 $ 22,047 |
Note 24 - Leases (Tables)
Note 24 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Detail Regarding Operating Leases of Lessee [Table Text Block] | (dollars in thousands) March 31, 2024 December 31, 2023 Balance Sheet Operating lease right-of-use asset $ 26,300 $ 21,007 Operating lease liability 27,776 22,487 Weighted average remaining lease term (years) 9.7 9.8 Weighted average discount rate 3.39 % 2.84 % Maturities of lease liabilities: One year or less $ 3,033 $ 3,365 Year two 3,596 2,864 Year three 3,290 2,543 Year four 3,298 2,536 Year five 3,324 2,547 Greater than five years 16,183 12,059 Total lease payments $ 32,724 $ 25,914 Less imputed interest 4,948 3,427 Total $ 27,776 $ 22,487 Three months ended Three months ended (in thousands) March 31, 2024 March 31, 2023 Income Statement Components of lease expense: Operating lease cost $ 1,046 $ 840 Variable lease cost 83 71 Less sublease income 26 25 Total lease cost $ 1,103 $ 886 Three months ended Three months ended (in thousands) March 31, 2024 March 31, 2023 Cash flow Statement Supplemental cash flow information: Operating cash flows from operating leases $ 1,328 $ 1,071 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Jan. 01, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Equity, Attributable to Parent | $ 874,711 | $ 858,103 | $ 794,368 | $ 760,432 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2023-02 [Member] | |||||
Equity, Attributable to Parent | $ 2,500 |
Note 2 - Investment Securitie_2
Note 2 - Investment Securities (Details Textual) $ in Thousands | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) |
Debt Securities, Held-to-Maturity, Number of Securities | 0 | |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Ending Balance | $ 0 | |
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss | 4,000 | $ 6,000 |
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Ending Balance | $ 0 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 516 | 498 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Percentage | 99% | 98% |
Collateral Pledged [Member] | ||
Debt Securities, Available-for-Sale, Restricted | $ 949,000 | $ 991,000 |
Note 2 - Investment Securitie_3
Note 2 - Investment Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Securities available-for-sale, amortized cost | $ 1,123,119 | $ 1,154,153 |
Securities available-for-sale, unrealized gains | 168 | 245 |
Securities available-for-sale, unrealized losses | (129,479) | (123,219) |
Securities available-for-sale, fair value | 993,808 | 1,031,179 |
US Treasury Securities and US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 119,955 | 119,931 |
Securities available-for-sale, unrealized gains | 0 | 0 |
Securities available-for-sale, unrealized losses | (2,477) | (3,662) |
Securities available-for-sale, fair value | 117,478 | 116,269 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 96,057 | 104,677 |
Securities available-for-sale, unrealized gains | 149 | 157 |
Securities available-for-sale, unrealized losses | (5,310) | (4,987) |
Securities available-for-sale, fair value | 90,896 | 99,847 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Securities available-for-sale, amortized cost | 768,003 | 789,145 |
Securities available-for-sale, unrealized gains | 16 | 83 |
Securities available-for-sale, unrealized losses | (107,399) | (101,189) |
Securities available-for-sale, fair value | 660,620 | 688,039 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 135,318 | 136,579 |
Securities available-for-sale, unrealized gains | 3 | 5 |
Securities available-for-sale, unrealized losses | (14,064) | (13,094) |
Securities available-for-sale, fair value | 121,257 | 123,490 |
Other Debt Obligations [Member] | ||
Securities available-for-sale, amortized cost | 3,786 | 3,821 |
Securities available-for-sale, unrealized gains | 0 | 0 |
Securities available-for-sale, unrealized losses | (229) | (287) |
Securities available-for-sale, fair value | $ 3,557 | $ 3,534 |
Note 2 - Investment Securitie_4
Note 2 - Investment Securities - Held to Maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Securities held-to-maturity, carrying value | $ 385,404 | $ 439,837 |
Securities held-to-maturity, gains | 0 | 1 |
Securities held-to-maturity, losses | (33,535) | (31,319) |
Securities held-to-maturity, fair value | 351,869 | 408,519 |
US Treasury Securities and US Government Agencies Debt Securities [Member] | ||
Securities held-to-maturity, carrying value | 153,383 | 203,259 |
Securities held-to-maturity, gains | 0 | 0 |
Securities held-to-maturity, losses | (4,190) | (4,932) |
Securities held-to-maturity, fair value | 149,193 | 198,327 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities held-to-maturity, carrying value | 26,756 | 26,918 |
Securities held-to-maturity, gains | 0 | 0 |
Securities held-to-maturity, losses | (2,639) | (2,457) |
Securities held-to-maturity, fair value | 24,117 | 24,461 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Securities held-to-maturity, carrying value | 205,265 | 209,660 |
Securities held-to-maturity, gains | 0 | 1 |
Securities held-to-maturity, losses | (26,706) | (23,930) |
Securities held-to-maturity, fair value | $ 178,559 | $ 185,731 |
Note 2 - Investment Securitie_5
Note 2 - Investment Securities - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Due within one year, AFS, amortized cost | $ 127,223 | |
Due within one year, AFS, fair value | 124,656 | |
Due within one year, HTM, carrying value | 151,432 | |
Due within one year, HTM, fair value | 147,357 | |
Due after one year but within five years, AFS, amortized cost | 37,397 | |
Due after one year but within five years, AFS, fair value | 35,288 | |
Due after one year but within five years, HTM, carrying value | 2,656 | |
Due after one year but within five years, HTM, fair value | 2,511 | |
Due after five years but within 10 years, AFS, amortized cost | 79,825 | |
Due after five years but within 10 years, AFS, fair value | 69,940 | |
Due after five years but within 10 years, HTM, carrying value | 25,539 | |
Due after five years but within 10 years, HTM, fair value | 22,941 | |
Due after 10 years, AFS, amortized cost | 110,671 | |
Due after 10 years, AFS, fair value | 103,304 | |
Due after 10 years, HTM, carrying value | 512 | |
Due after 10 years, HTM, fair value | 501 | |
Mortgage-backed securities – government agencies, AFS, amortized cost | 768,003 | |
Mortgage-backed securities – government agencies, AFS, fair value | 660,620 | |
Mortgage backed securities - government agencies, HTM, carrying value | 205,265 | |
Mortgage backed securities - government agencies, HTM, fair value | 178,559 | |
Total available for sale debt securities, amortized cost | 1,123,119 | $ 1,154,153 |
Total available for sale debt securities, fair value | 993,808 | 1,031,179 |
Total held to maturity debt securities, carrying value | 385,404 | |
Total held to maturity debt securities, fair value | $ 351,869 | $ 408,519 |
Note 2 - Investment Securitie_6
Note 2 - Investment Securities - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Securities available-for-sale, less than 12 months, fair value | $ 26,024 | $ 22,672 |
Securities available-for-sale, less than 12 months, unrealized losses | (226) | (159) |
Securities available-for-sale, 12 months or more, fair value | 953,088 | 969,852 |
Securities available-for-sale, 12 months or more, unrealized losses | (129,253) | (123,060) |
Securities available-for-sale, fair value | 979,112 | 992,524 |
Securities available-for-sale, unrealized losses | (129,479) | (123,219) |
Securities HTM, less than 12 months, fair value | 628 | 455 |
Securities HTM, less than 12 months, unrealized losses | (2) | (1) |
Securities HTM, 12 months or more, fair value | 351,229 | 407,798 |
Securities HTM, 12 months or more, unrealized losses | (33,533) | (31,318) |
Securities HTM, fair value | 351,857 | 408,253 |
Securities HTM, unrealized losses | (33,535) | (31,319) |
US Treasury Securities and US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 0 | 0 |
Securities available-for-sale, less than 12 months, unrealized losses | 0 | 0 |
Securities available-for-sale, 12 months or more, fair value | 117,478 | 116,269 |
Securities available-for-sale, 12 months or more, unrealized losses | (2,477) | (3,662) |
Securities available-for-sale, fair value | 117,478 | 116,269 |
Securities available-for-sale, unrealized losses | (2,477) | (3,662) |
Securities HTM, less than 12 months, fair value | 0 | 0 |
Securities HTM, less than 12 months, unrealized losses | 0 | 0 |
Securities HTM, 12 months or more, fair value | 149,193 | 198,327 |
Securities HTM, 12 months or more, unrealized losses | (4,190) | (4,932) |
Securities HTM, fair value | 149,193 | 198,327 |
Securities HTM, unrealized losses | (4,190) | (4,932) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 4,759 | 0 |
Securities available-for-sale, less than 12 months, unrealized losses | (12) | 0 |
Securities available-for-sale, 12 months or more, fair value | 80,067 | 83,675 |
Securities available-for-sale, 12 months or more, unrealized losses | (5,298) | (4,987) |
Securities available-for-sale, fair value | 84,826 | 83,675 |
Securities available-for-sale, unrealized losses | (5,310) | (4,987) |
Securities HTM, less than 12 months, fair value | 424 | 455 |
Securities HTM, less than 12 months, unrealized losses | (1) | (1) |
Securities HTM, 12 months or more, fair value | 23,681 | 23,967 |
Securities HTM, 12 months or more, unrealized losses | (2,638) | (2,456) |
Securities HTM, fair value | 24,105 | 24,422 |
Securities HTM, unrealized losses | (2,639) | (2,457) |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 10,421 | 16,346 |
Securities available-for-sale, less than 12 months, unrealized losses | (113) | (95) |
Securities available-for-sale, 12 months or more, fair value | 647,067 | 661,195 |
Securities available-for-sale, 12 months or more, unrealized losses | (107,286) | (101,094) |
Securities available-for-sale, fair value | 657,488 | 677,541 |
Securities available-for-sale, unrealized losses | (107,399) | (101,189) |
Securities HTM, less than 12 months, fair value | 204 | 0 |
Securities HTM, less than 12 months, unrealized losses | (1) | 0 |
Securities HTM, 12 months or more, fair value | 178,355 | 185,504 |
Securities HTM, 12 months or more, unrealized losses | (26,705) | (23,930) |
Securities HTM, fair value | 178,559 | 185,504 |
Securities HTM, unrealized losses | (26,706) | (23,930) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 10,844 | 6,326 |
Securities available-for-sale, less than 12 months, unrealized losses | (101) | (64) |
Securities available-for-sale, 12 months or more, fair value | 104,919 | 105,179 |
Securities available-for-sale, 12 months or more, unrealized losses | (13,963) | (13,030) |
Securities available-for-sale, fair value | 115,763 | 111,505 |
Securities available-for-sale, unrealized losses | (14,064) | (13,094) |
Other Debt Obligations [Member] | ||
Securities available-for-sale, less than 12 months, fair value | 0 | 0 |
Securities available-for-sale, less than 12 months, unrealized losses | 0 | 0 |
Securities available-for-sale, 12 months or more, fair value | 3,557 | 3,534 |
Securities available-for-sale, 12 months or more, unrealized losses | (229) | (287) |
Securities available-for-sale, fair value | 3,557 | 3,534 |
Securities available-for-sale, unrealized losses | $ (229) | $ (287) |
Note 3 - Loans and Allowance _3
Note 3 - Loans and Allowance for Credit Losses on Loans (Details Textual) - USD ($) | 3 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | ||
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | $ 22,000,000 | $ 21,000,000 | ||
Financing Receivable, before Allowance for Credit Loss | [1] | 5,849,715,000 | 5,771,038,000 | |
Loans and Leases Receivable, Related Parties | 62,000,000 | 62,000,000 | ||
Financing Receivable, Nonaccrual, Interest Income | 0 | $ 0 | ||
Mortgage Loans in Process of Foreclosure, Amount | 112,000 | 668,000 | ||
Asset Pledged as Collateral [Member] | Federal Home Loan Bank Advances [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | $ 3,210,000,000 | $ 3,150,000,000 | ||
[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 | Mar. 31, 2024 | Dec. 31, 2023 | |
Loans | [1] | $ 5,849,715 | $ 5,771,038 |
Home Equity Line of Credit [Member] | |||
Loans | 212,443 | 211,390 | |
Credit Card Receivable [Member] | |||
Loans | 24,104 | 23,632 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 2,541,456 | 2,469,113 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Loans | 1,609,483 | 1,561,689 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Loans | 931,973 | 907,424 | |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 864,272 | 867,380 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | |||
Loans | 429,424 | 439,748 | |
Total Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 1,293,696 | 1,307,128 | |
Residential Real Estate Portfolio Segment [Member] | |||
Loans | 1,084,192 | 1,067,608 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Loans | 360,958 | 358,715 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Loans | 723,234 | 708,893 | |
Construction and Development [Member] | |||
Loans | 532,183 | 531,324 | |
Consumer Portfolio Segment [Member] | |||
Loans | 145,022 | 145,340 | |
Finance Leases Portfolio Segment [Member] | |||
Loans | $ 16,619 | $ 15,503 | |
[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 - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Evaluation Method (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Beginning balance | $ 79,374 | $ 73,531 | $ 73,531 |
Provision for credit losses | 1,175 | 2,250 | |
Charge-offs | (262) | (370) | (7,512) |
Recoveries | (610) | (262) | |
Ending balance | 80,897 | 75,673 | 79,374 |
Loans, individually evaluated for impairment | 23,243 | 30,842 | |
Allowance for loans, individually evaluated for impairment | 2,456 | 3,833 | |
Real Estate [Member] | |||
Loans, individually evaluated for impairment | 19,462 | 26,318 | |
Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 3,186 | 4,189 | |
Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 595 | 335 | |
Home Equity Line of Credit [Member] | |||
Beginning balance | 1,660 | 1,613 | 1,613 |
Provision for credit losses | 4 | 17 | |
Charge-offs | 0 | (12) | |
Recoveries | (2) | 0 | |
Ending balance | 1,666 | 1,618 | 1,660 |
Loans, individually evaluated for impairment | 515 | 467 | |
Allowance for loans, individually evaluated for impairment | 0 | 0 | |
Home Equity Line of Credit [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 515 | 467 | |
Home Equity Line of Credit [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Home Equity Line of Credit [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Beginning balance | 33,800 | 33,468 | 33,468 |
Provision for credit losses | (767) | (389) | |
Charge-offs | 0 | 0 | |
Recoveries | (20) | (19) | |
Ending balance | 33,053 | 33,098 | 33,800 |
Loans, individually evaluated for impairment | 12,260 | 18,005 | |
Allowance for loans, individually evaluated for impairment | 1,511 | 2,416 | |
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 12,260 | 18,005 | |
Commercial Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Beginning balance | 22,133 | 22,641 | 22,641 |
Provision for credit losses | (326) | (991) | |
Charge-offs | 0 | 0 | 0 |
Recoveries | (16) | (19) | |
Ending balance | 21,823 | 21,669 | 22,133 |
Loans, individually evaluated for impairment | 10,518 | 15,419 | |
Allowance for loans, individually evaluated for impairment | 902 | 1,604 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 10,518 | 15,419 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Beginning balance | 11,667 | 10,827 | 10,827 |
Provision for credit losses | (441) | 602 | |
Charge-offs | 0 | 0 | 0 |
Recoveries | (4) | 0 | |
Ending balance | 11,230 | 11,429 | 11,667 |
Loans, individually evaluated for impairment | 1,742 | 2,586 | |
Allowance for loans, individually evaluated for impairment | 609 | 812 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 1,742 | 2,586 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans, individually evaluated for impairment | 6,006 | 7,272 | |
Allowance for loans, individually evaluated for impairment | 620 | 1,085 | |
Commercial and Industrial Portfolio Segment [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 2,572 | 3,083 | |
Commercial and Industrial Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 3,186 | 4,189 | |
Commercial and Industrial Portfolio Segment [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 248 | 0 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | |||
Beginning balance | 14,359 | 12,991 | 12,991 |
Provision for credit losses | (673) | 991 | |
Charge-offs | (23) | (71) | (2,298) |
Recoveries | (253) | (87) | |
Ending balance | 13,916 | 13,998 | 14,359 |
Loans, individually evaluated for impairment | 3,693 | 4,390 | |
Allowance for loans, individually evaluated for impairment | 0 | 377 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 360 | 302 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 3,085 | 4,088 | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 248 | 0 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | |||
Beginning balance | 6,495 | 6,389 | 6,389 |
Provision for credit losses | (441) | (364) | |
Charge-offs | 0 | 0 | |
Recoveries | (204) | 0 | |
Ending balance | 6,258 | 6,025 | 6,495 |
Loans, individually evaluated for impairment | 2,313 | 2,882 | |
Allowance for loans, individually evaluated for impairment | 620 | 708 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 2,212 | 2,781 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 101 | 101 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Total Commercial and Industrial Portfolio Segment [Member] | |||
Beginning balance | 20,854 | 19,380 | 19,380 |
Provision for credit losses | (1,114) | 627 | |
Charge-offs | (23) | (71) | |
Recoveries | (457) | (87) | |
Ending balance | 20,174 | 20,023 | 20,854 |
Residential Real Estate Portfolio Segment [Member] | |||
Beginning balance | 13,598 | 10,314 | 10,314 |
Provision for credit losses | 2,958 | 2,024 | |
Charge-offs | (14) | 0 | |
Recoveries | (15) | (11) | |
Ending balance | 16,557 | 12,349 | 13,598 |
Loans, individually evaluated for impairment | 4,115 | 4,763 | |
Allowance for loans, individually evaluated for impairment | 314 | 314 | |
Residential Real Estate Portfolio Segment [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 4,115 | 4,763 | |
Residential Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Residential Real Estate Portfolio Segment [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Beginning balance | 4,282 | 3,597 | 3,597 |
Provision for credit losses | 449 | 546 | |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | (1) | |
Ending balance | 4,731 | 4,144 | 4,282 |
Loans, individually evaluated for impairment | 579 | 558 | |
Allowance for loans, individually evaluated for impairment | 116 | 116 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 579 | 558 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Beginning balance | 9,316 | 6,717 | 6,717 |
Provision for credit losses | 2,509 | 1,478 | |
Charge-offs | (14) | 0 | (43) |
Recoveries | (15) | (10) | |
Ending balance | 11,826 | 8,205 | 9,316 |
Loans, individually evaluated for impairment | 3,536 | 4,205 | |
Allowance for loans, individually evaluated for impairment | 198 | 198 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 3,536 | 4,205 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Construction and Development [Member] | |||
Beginning balance | 7,593 | 7,186 | 7,186 |
Provision for credit losses | (134) | (451) | |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | |
Ending balance | 7,459 | 6,735 | 7,593 |
Loans, individually evaluated for impairment | 0 | 0 | |
Allowance for loans, individually evaluated for impairment | 0 | 0 | |
Construction and Development [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Construction and Development [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Construction and Development [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Beginning balance | 1,407 | 1,158 | 1,158 |
Provision for credit losses | 192 | 88 | |
Charge-offs | (210) | (199) | (865) |
Recoveries | (111) | (139) | |
Ending balance | 1,500 | 1,186 | 1,407 |
Loans, individually evaluated for impairment | 347 | 335 | |
Allowance for loans, individually evaluated for impairment | 11 | 18 | |
Consumer Portfolio Segment [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Consumer Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Consumer Portfolio Segment [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 347 | 335 | |
Finance Leases Portfolio Segment [Member] | |||
Beginning balance | 220 | 201 | 201 |
Provision for credit losses | 12 | (2) | |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | |
Ending balance | 232 | 199 | 220 |
Loans, individually evaluated for impairment | 0 | 0 | |
Allowance for loans, individually evaluated for impairment | 0 | 0 | |
Finance Leases Portfolio Segment [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Finance Leases Portfolio Segment [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Finance Leases Portfolio Segment [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Beginning balance | 242 | 211 | 211 |
Provision for credit losses | 24 | 336 | |
Charge-offs | (15) | (88) | (661) |
Recoveries | (5) | (6) | |
Ending balance | 256 | $ 465 | 242 |
Loans, individually evaluated for impairment | 0 | 0 | |
Allowance for loans, individually evaluated for impairment | 0 | 0 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Real Estate [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Accounts Receivable and Equipment [Member] | |||
Loans, individually evaluated for impairment | 0 | 0 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Other Collateral [Member] | |||
Loans, individually evaluated for impairment | $ 0 | $ 0 |
Note 3 - Loans and Allowance _6
Note 3 - Loans and Allowance for Credit Losses on Loans - Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Non-accrual with no allowance | $ 6,694 | $ 2,975 | |
Non-accrual loans | 13,984 | 19,058 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 106 | 110 |
Home Equity Line of Credit [Member] | |||
Non-accrual with no allowance | 321 | 343 | |
Non-accrual loans | 515 | 467 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Credit Cards [Member] | |||
Non-accrual with no allowance | 0 | 0 | |
Non-accrual loans | 14 | 10 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 84 | 110 |
Commercial Real Estate Portfolio Segment [Member] | |||
Non-accrual with no allowance | 3,025 | 1,714 | |
Non-accrual loans | 4,952 | 9,534 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Non-accrual with no allowance | 3,025 | 1,714 | |
Non-accrual loans | 4,103 | 8,649 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Non-accrual with no allowance | 0 | 0 | |
Non-accrual loans | 849 | 885 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | |||
Non-accrual with no allowance | 3,083 | 688 | |
Non-accrual loans | 3,974 | 4,456 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 22 | 0 |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | |||
Non-accrual with no allowance | 0 | 0 | |
Non-accrual loans | 0 | 215 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Total Commercial and Industrial Portfolio Segment [Member] | |||
Non-accrual with no allowance | 3,083 | 688 | |
Non-accrual loans | 3,974 | 4,671 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 22 | 0 |
Residential Real Estate Portfolio Segment [Member] | |||
Non-accrual with no allowance | 265 | 230 | |
Non-accrual loans | 4,176 | 4,039 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Non-accrual with no allowance | 0 | 0 | |
Non-accrual loans | 393 | 372 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Non-accrual with no allowance | 265 | 230 | |
Non-accrual loans | 3,783 | 3,667 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Construction and Development [Member] | |||
Non-accrual with no allowance | 0 | 0 | |
Non-accrual loans | 0 | 0 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Consumer Portfolio Segment [Member] | |||
Non-accrual with no allowance | 0 | 0 | |
Non-accrual loans | 353 | 337 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | 0 | 0 |
Finance Leases Portfolio Segment [Member] | |||
Non-accrual with no allowance | 0 | 0 | |
Non-accrual loans | 0 | 0 | |
Troubled Debt Restructurings, excluding non-accrual loans | [1] | $ 0 | $ 0 |
[1]Does not included TDRs captured in the non-accrual column. |
Note 3 - Loans and Allowance _7
Note 3 - Loans and Allowance for Credit Losses on Loans - Aging of the Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Loans | [1] | $ 5,849,715 | $ 5,771,038 |
Financial Asset, Not Past Due [Member] | |||
Loans | 5,831,602 | 5,753,716 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 9,728 | 8,274 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 3,617 | 2,508 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 4,768 | 6,540 | |
Financial Asset, Past Due [Member] | |||
Loans | 18,113 | 17,322 | |
Home Equity Line of Credit [Member] | |||
Loans | 212,443 | 211,390 | |
Home Equity Line of Credit [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 211,825 | 210,823 | |
Home Equity Line of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 406 | 67 | |
Home Equity Line of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 18 | 33 | |
Home Equity Line of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 194 | 467 | |
Home Equity Line of Credit [Member] | Financial Asset, Past Due [Member] | |||
Loans | 618 | 567 | |
Credit Card Receivable [Member] | |||
Loans | 24,104 | 23,632 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 2,541,456 | 2,469,113 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 2,538,135 | 2,465,141 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 1,718 | 1,526 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 421 | 578 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 1,182 | 1,868 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans | 3,321 | 3,972 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Loans | 1,609,483 | 1,561,689 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 1,608,139 | 1,558,756 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 1 | 768 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 232 | 318 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 1,111 | 1,847 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Past Due [Member] | |||
Loans | 1,344 | 2,933 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Loans | 931,973 | 907,424 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 929,996 | 906,385 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 1,717 | 758 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 189 | 260 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 71 | 21 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Past Due [Member] | |||
Loans | 1,977 | 1,039 | |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 864,272 | 867,380 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | |||
Loans | 864,272 | 867,380 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 862,153 | 866,089 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 489 | 244 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 982 | 2 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 648 | 1,045 | |
Commercial and Industrial Portfolio Segment [Member] | Term, Excluding PPP [Member] | Financial Asset, Past Due [Member] | |||
Loans | 2,119 | 1,291 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | |||
Loans | 429,424 | 439,748 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 429,117 | 439,671 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 300 | 77 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 7 | 0 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Financial Asset, Past Due [Member] | |||
Loans | 307 | 77 | |
Total Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 1,293,696 | 1,307,128 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 1,291,270 | 1,305,760 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 789 | 321 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 989 | 2 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 648 | 1,045 | |
Total Commercial and Industrial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans | 2,426 | 1,368 | |
Residential Real Estate Portfolio Segment [Member] | |||
Loans | 1,084,192 | 1,067,608 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 1,073,428 | 1,057,238 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 6,315 | 5,911 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 2,032 | 1,706 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 2,417 | 2,753 | |
Residential Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans | 10,764 | 10,370 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Loans | 360,958 | 358,715 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 360,153 | 357,763 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 407 | 621 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 135 | 94 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 263 | 237 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Past Due [Member] | |||
Loans | 805 | 952 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Loans | 723,234 | 708,893 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 713,275 | 699,475 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 5,908 | 5,290 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 1,897 | 1,612 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 2,154 | 2,516 | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Past Due [Member] | |||
Loans | 9,959 | 9,418 | |
Construction and Development [Member] | |||
Loans | 532,183 | 531,324 | |
Construction and Development [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 532,183 | 531,324 | |
Construction and Development [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Construction and Development [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 0 | 0 | |
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 | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Loans | 145,022 | 145,340 | |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 144,374 | 144,640 | |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 257 | 258 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 148 | 145 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 243 | 297 | |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans | 648 | 700 | |
Finance Leases Portfolio Segment [Member] | |||
Loans | 16,619 | 15,503 | |
Finance Leases Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 16,619 | 15,503 | |
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 | 24,104 | 23,632 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 23,768 | 23,287 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 243 | 191 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 9 | 44 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 84 | 110 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Past Due [Member] | |||
Loans | $ 336 | $ 345 | |
[1]Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. |
Note 3 - Loans and Allowance _8
Note 3 - Loans and Allowance for Credit Losses on Loans - Internally Assigned Risk Grades of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | ||
Current Fiscal Year | $ 361,997 | $ 1,230,322 | ||
Fiscal Year before Current Fiscal Year | 1,174,817 | 1,388,009 | ||
Two Years before Current Fiscal Year | 1,345,467 | 1,059,943 | ||
Three Years before Current Fiscal Year | 981,297 | 640,281 | ||
Four Years before Current Fiscal Year | 591,210 | 322,775 | ||
More than Four Years before Current Fiscal Year | 658,170 | 387,125 | ||
Revolving | 736,757 | 742,583 | ||
Loans | [1] | 5,849,715 | 5,771,038 | |
Current period gross charge offs | (153) | (1,998) | ||
Current period gross charge offs | (43) | (756) | ||
Current period gross charge offs | 0 | (66) | ||
Current period gross charge offs | (13) | (136) | ||
Current period gross charge offs | (2) | (78) | ||
Current period gross charge offs | (33) | (152) | ||
Current period gross charge offs | (18) | (4,326) | ||
Charge-offs | (262) | $ (370) | (7,512) | |
Pass [Member] | ||||
Current Fiscal Year | 336,360 | 1,207,296 | ||
Fiscal Year before Current Fiscal Year | 1,152,698 | 1,379,117 | ||
Two Years before Current Fiscal Year | 1,334,891 | 1,047,901 | ||
Three Years before Current Fiscal Year | 972,115 | 630,129 | ||
Four Years before Current Fiscal Year | 581,057 | 305,493 | ||
More than Four Years before Current Fiscal Year | 634,882 | 379,258 | ||
Revolving | 709,872 | 725,601 | ||
Loans | 5,721,875 | 5,674,795 | ||
Special Mention [Member] | ||||
Current Fiscal Year | 17,769 | 4,836 | ||
Fiscal Year before Current Fiscal Year | 7,904 | 1,047 | ||
Two Years before Current Fiscal Year | 1,005 | 9,785 | ||
Three Years before Current Fiscal Year | 6,875 | 1,567 | ||
Four Years before Current Fiscal Year | 817 | 2,763 | ||
More than Four Years before Current Fiscal Year | 7,658 | 4,695 | ||
Revolving | 23,402 | 9,584 | ||
Loans | 65,430 | 34,277 | ||
Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 5,160 | 7,653 | ||
Fiscal Year before Current Fiscal Year | 9,206 | 5,446 | ||
Two Years before Current Fiscal Year | 7,606 | 1,028 | ||
Three Years before Current Fiscal Year | 1,009 | 7,957 | ||
Four Years before Current Fiscal Year | 8,755 | 12,736 | ||
More than Four Years before Current Fiscal Year | 13,736 | 1,241 | ||
Revolving | 2,954 | 6,847 | ||
Loans | 48,426 | 42,908 | ||
Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 2,708 | 10,537 | ||
Fiscal Year before Current Fiscal Year | 5,009 | 2,399 | ||
Two Years before Current Fiscal Year | 1,965 | 1,229 | ||
Three Years before Current Fiscal Year | 1,298 | 628 | ||
Four Years before Current Fiscal Year | 581 | 1,783 | ||
More than Four Years before Current Fiscal Year | 1,894 | 1,931 | ||
Revolving | 529 | 551 | ||
Loans | 13,984 | 19,058 | ||
Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Credit Card Receivable [Member] | ||||
Loans | 24,104 | 23,632 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans | 2,541,456 | 2,469,113 | ||
Charge-offs | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||||
Current Fiscal Year | 118,710 | 308,959 | ||
Fiscal Year before Current Fiscal Year | 294,302 | 372,107 | ||
Two Years before Current Fiscal Year | 378,555 | 350,499 | ||
Three Years before Current Fiscal Year | 314,851 | 223,731 | ||
Four Years before Current Fiscal Year | 219,062 | 138,429 | ||
More than Four Years before Current Fiscal Year | 263,792 | 141,679 | ||
Revolving | 20,211 | 26,285 | ||
Loans | 1,609,483 | 1,561,689 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Charge-offs | 0 | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Pass [Member] | ||||
Current Fiscal Year | 113,686 | 302,787 | ||
Fiscal Year before Current Fiscal Year | 292,164 | 370,728 | ||
Two Years before Current Fiscal Year | 377,178 | 346,600 | ||
Three Years before Current Fiscal Year | 310,974 | 220,144 | ||
Four Years before Current Fiscal Year | 215,516 | 122,732 | ||
More than Four Years before Current Fiscal Year | 244,789 | 136,624 | ||
Revolving | 20,113 | 26,187 | ||
Loans | 1,574,420 | 1,525,802 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 2,316 | 76 | ||
Fiscal Year before Current Fiscal Year | 1,772 | 0 | ||
Two Years before Current Fiscal Year | 0 | 2,902 | ||
Three Years before Current Fiscal Year | 2,886 | 0 | ||
Four Years before Current Fiscal Year | 0 | 1,947 | ||
More than Four Years before Current Fiscal Year | 5,601 | 3,727 | ||
Revolving | 0 | 0 | ||
Loans | 12,575 | 8,652 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 290 | ||
Fiscal Year before Current Fiscal Year | 290 | 1,093 | ||
Two Years before Current Fiscal Year | 1,093 | 997 | ||
Three Years before Current Fiscal Year | 991 | 3,587 | ||
Four Years before Current Fiscal Year | 3,546 | 12,278 | ||
More than Four Years before Current Fiscal Year | 12,367 | 243 | ||
Revolving | 98 | 98 | ||
Loans | 18,385 | 18,586 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 2,708 | 5,806 | ||
Fiscal Year before Current Fiscal Year | 76 | 286 | ||
Two Years before Current Fiscal Year | 284 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 1,472 | ||
More than Four Years before Current Fiscal Year | 1,035 | 1,085 | ||
Revolving | 0 | 0 | ||
Loans | 4,103 | 8,649 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Current Fiscal Year | 43,404 | 154,348 | ||
Fiscal Year before Current Fiscal Year | 151,459 | 168,587 | ||
Two Years before Current Fiscal Year | 180,649 | 192,735 | ||
Three Years before Current Fiscal Year | 188,268 | 184,648 | ||
Four Years before Current Fiscal Year | 174,754 | 91,428 | ||
More than Four Years before Current Fiscal Year | 178,489 | 101,737 | ||
Revolving | 14,950 | 13,941 | ||
Loans | 931,973 | 907,424 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Charge-offs | 0 | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Pass [Member] | ||||
Current Fiscal Year | 38,226 | 148,498 | ||
Fiscal Year before Current Fiscal Year | 148,512 | 164,087 | ||
Two Years before Current Fiscal Year | 176,211 | 191,350 | ||
Three Years before Current Fiscal Year | 185,807 | 179,450 | ||
Four Years before Current Fiscal Year | 169,607 | 90,575 | ||
More than Four Years before Current Fiscal Year | 176,632 | 100,988 | ||
Revolving | 14,950 | 13,941 | ||
Loans | 909,945 | 888,889 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 2,316 | 4,175 | ||
Fiscal Year before Current Fiscal Year | 2,325 | 221 | ||
Two Years before Current Fiscal Year | 220 | 592 | ||
Three Years before Current Fiscal Year | 1,683 | 757 | ||
Four Years before Current Fiscal Year | 742 | 395 | ||
More than Four Years before Current Fiscal Year | 1,397 | 691 | ||
Revolving | 0 | 0 | ||
Loans | 8,683 | 6,831 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 2,862 | 1,675 | ||
Fiscal Year before Current Fiscal Year | 622 | 4,258 | ||
Two Years before Current Fiscal Year | 4,218 | 0 | ||
Three Years before Current Fiscal Year | 0 | 4,370 | ||
Four Years before Current Fiscal Year | 4,334 | 458 | ||
More than Four Years before Current Fiscal Year | 460 | 58 | ||
Revolving | 0 | 0 | ||
Loans | 12,496 | 10,819 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 21 | ||
Two Years before Current Fiscal Year | 0 | 793 | ||
Three Years before Current Fiscal Year | 778 | 71 | ||
Four Years before Current Fiscal Year | 71 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 849 | 885 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Residential Real Estate Portfolio Segment [Member] | ||||
Loans | 1,084,192 | 1,067,608 | ||
Charge-offs | (14) | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||||
Current Fiscal Year | 17,699 | 83,913 | ||
Fiscal Year before Current Fiscal Year | 75,801 | 84,518 | ||
Two Years before Current Fiscal Year | 82,690 | 77,887 | ||
Three Years before Current Fiscal Year | 76,360 | 49,555 | ||
Four Years before Current Fiscal Year | 47,211 | 31,632 | ||
More than Four Years before Current Fiscal Year | 61,197 | 31,210 | ||
Revolving | 0 | 0 | ||
Loans | 360,958 | 358,715 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Charge-offs | 0 | 0 | 0 | |
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Pass [Member] | ||||
Current Fiscal Year | 17,699 | 83,913 | ||
Fiscal Year before Current Fiscal Year | 75,801 | 84,278 | ||
Two Years before Current Fiscal Year | 82,460 | 77,868 | ||
Three Years before Current Fiscal Year | 76,341 | 49,555 | ||
Four Years before Current Fiscal Year | 47,211 | 31,325 | ||
More than Four Years before Current Fiscal Year | 60,216 | 30,546 | ||
Revolving | 0 | 0 | ||
Loans | 359,728 | 357,485 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 7 | ||
Two Years before Current Fiscal Year | 4 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 262 | ||
More than Four Years before Current Fiscal Year | 524 | 277 | ||
Revolving | 0 | 0 | ||
Loans | 528 | 546 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 309 | 312 | ||
Revolving | 0 | 0 | ||
Loans | 309 | 312 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 233 | ||
Two Years before Current Fiscal Year | 226 | 19 | ||
Three Years before Current Fiscal Year | 19 | 0 | ||
Four Years before Current Fiscal Year | 0 | 45 | ||
More than Four Years before Current Fiscal Year | 148 | 75 | ||
Revolving | 0 | 0 | ||
Loans | 393 | 372 | ||
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Current Fiscal Year | 27,388 | 171,584 | ||
Fiscal Year before Current Fiscal Year | 169,586 | 179,225 | ||
Two Years before Current Fiscal Year | 175,533 | 175,947 | ||
Three Years before Current Fiscal Year | 173,115 | 86,297 | ||
Four Years before Current Fiscal Year | 84,932 | 24,516 | ||
More than Four Years before Current Fiscal Year | 92,680 | 71,324 | ||
Revolving | 0 | 0 | ||
Loans | 723,234 | 708,893 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | (14) | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | (43) | ||
Current period gross charge offs | 0 | 0 | ||
Charge-offs | (14) | 0 | (43) | |
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Pass [Member] | ||||
Current Fiscal Year | 27,388 | 170,446 | ||
Fiscal Year before Current Fiscal Year | 167,859 | 178,088 | ||
Two Years before Current Fiscal Year | 174,431 | 175,561 | ||
Three Years before Current Fiscal Year | 172,838 | 86,105 | ||
Four Years before Current Fiscal Year | 84,750 | 24,354 | ||
More than Four Years before Current Fiscal Year | 91,731 | 70,213 | ||
Revolving | 0 | 0 | ||
Loans | 718,997 | 704,767 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 89 | ||
Three Years before Current Fiscal Year | 88 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 88 | 89 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 15 | ||
Two Years before Current Fiscal Year | 14 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 352 | 355 | ||
Revolving | 0 | 0 | ||
Loans | 366 | 370 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 1,138 | ||
Fiscal Year before Current Fiscal Year | 1,727 | 1,122 | ||
Two Years before Current Fiscal Year | 1,088 | 297 | ||
Three Years before Current Fiscal Year | 189 | 192 | ||
Four Years before Current Fiscal Year | 182 | 162 | ||
More than Four Years before Current Fiscal Year | 597 | 756 | ||
Revolving | 0 | 0 | ||
Loans | 3,783 | 3,667 | ||
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Finance Leases Portfolio Segment [Member] | ||||
Current Fiscal Year | 2,634 | 6,801 | ||
Fiscal Year before Current Fiscal Year | 6,486 | 3,442 | ||
Two Years before Current Fiscal Year | 3,182 | 3,117 | ||
Three Years before Current Fiscal Year | 2,667 | 1,723 | ||
Four Years before Current Fiscal Year | 1,336 | 155 | ||
More than Four Years before Current Fiscal Year | 314 | 265 | ||
Revolving | 0 | 0 | ||
Loans | 16,619 | 15,503 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Charge-offs | 0 | 0 | 0 | |
Finance Leases Portfolio Segment [Member] | Pass [Member] | ||||
Current Fiscal Year | 2,634 | 6,801 | ||
Fiscal Year before Current Fiscal Year | 6,486 | 3,442 | ||
Two Years before Current Fiscal Year | 3,182 | 3,117 | ||
Three Years before Current Fiscal Year | 2,667 | 1,723 | ||
Four Years before Current Fiscal Year | 1,336 | 155 | ||
More than Four Years before Current Fiscal Year | 314 | 265 | ||
Revolving | 0 | 0 | ||
Loans | 16,619 | 15,503 | ||
Finance Leases Portfolio Segment [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Finance Leases Portfolio Segment [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Finance Leases Portfolio Segment [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Finance Leases Portfolio Segment [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 24,104 | 23,632 | ||
Loans | 24,104 | 23,632 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | (15) | (661) | ||
Charge-offs | (15) | (88) | (661) | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Performing Financial Instruments [Member] | ||||
Loans | 24,006 | 23,512 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans | 98 | 120 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Pass [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 24,090 | 23,622 | ||
Loans | 24,090 | 23,622 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 14 | 10 | ||
Loans | 14 | 10 | ||
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Commercial and Industrial Portfolio Segment [Member] | ||||
Loans | 864,272 | 867,380 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | ||||
Current Fiscal Year | 66,922 | 283,200 | ||
Fiscal Year before Current Fiscal Year | 262,401 | 299,695 | ||
Two Years before Current Fiscal Year | 283,075 | 174,868 | ||
Three Years before Current Fiscal Year | 154,380 | 57,374 | ||
Four Years before Current Fiscal Year | 50,698 | 25,179 | ||
More than Four Years before Current Fiscal Year | 46,796 | 27,064 | ||
Revolving | 0 | 0 | ||
Loans | 864,272 | 867,380 | ||
Current period gross charge offs | 0 | (1,315) | ||
Current period gross charge offs | (23) | (734) | ||
Current period gross charge offs | 0 | (37) | ||
Current period gross charge offs | 0 | (93) | ||
Current period gross charge offs | 0 | (37) | ||
Current period gross charge offs | 0 | (82) | ||
Current period gross charge offs | 0 | 0 | ||
Charge-offs | (23) | (71) | (2,298) | |
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Pass [Member] | ||||
Current Fiscal Year | 62,850 | 279,002 | ||
Fiscal Year before Current Fiscal Year | 250,419 | 298,204 | ||
Two Years before Current Fiscal Year | 279,708 | 172,288 | ||
Three Years before Current Fiscal Year | 151,918 | 56,949 | ||
Four Years before Current Fiscal Year | 49,446 | 24,939 | ||
More than Four Years before Current Fiscal Year | 46,339 | 26,790 | ||
Revolving | 0 | 0 | ||
Loans | 840,680 | 858,172 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 4,072 | 585 | ||
Fiscal Year before Current Fiscal Year | 3,807 | 819 | ||
Two Years before Current Fiscal Year | 781 | 2,520 | ||
Three Years before Current Fiscal Year | 2,218 | 87 | ||
Four Years before Current Fiscal Year | 75 | 139 | ||
More than Four Years before Current Fiscal Year | 122 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 11,075 | 4,150 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 218 | ||
Fiscal Year before Current Fiscal Year | 5,121 | 80 | ||
Two Years before Current Fiscal Year | 2,281 | 31 | ||
Three Years before Current Fiscal Year | 18 | 0 | ||
Four Years before Current Fiscal Year | 875 | 0 | ||
More than Four Years before Current Fiscal Year | 248 | 273 | ||
Revolving | 0 | 0 | ||
Loans | 8,543 | 602 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 3,395 | ||
Fiscal Year before Current Fiscal Year | 3,054 | 592 | ||
Two Years before Current Fiscal Year | 305 | 29 | ||
Three Years before Current Fiscal Year | 226 | 338 | ||
Four Years before Current Fiscal Year | 302 | 101 | ||
More than Four Years before Current Fiscal Year | 87 | 1 | ||
Revolving | 0 | 0 | ||
Loans | 3,974 | 4,456 | ||
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | ||||
Loans | 429,424 | 439,748 | ||
Charge-offs | 0 | 0 | ||
Construction and Development [Member] | ||||
Current Fiscal Year | 58,674 | 163,302 | ||
Fiscal Year before Current Fiscal Year | 170,410 | 239,807 | ||
Two Years before Current Fiscal Year | 213,365 | 72,813 | ||
Three Years before Current Fiscal Year | 60,291 | 34,591 | ||
Four Years before Current Fiscal Year | 10,522 | 478 | ||
More than Four Years before Current Fiscal Year | 4,013 | 3,711 | ||
Revolving | 14,908 | 16,622 | ||
Loans | 532,183 | 531,324 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Charge-offs | 0 | 0 | 0 | |
Construction and Development [Member] | Pass [Member] | ||||
Current Fiscal Year | 52,693 | 157,832 | ||
Fiscal Year before Current Fiscal Year | 167,237 | 239,807 | ||
Two Years before Current Fiscal Year | 213,365 | 69,131 | ||
Three Years before Current Fiscal Year | 60,291 | 34,591 | ||
Four Years before Current Fiscal Year | 10,522 | 478 | ||
More than Four Years before Current Fiscal Year | 4,013 | 3,711 | ||
Revolving | 13,909 | 15,623 | ||
Loans | 522,030 | 521,173 | ||
Construction and Development [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 3,683 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 3,682 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 999 | 999 | ||
Loans | 4,682 | 4,681 | ||
Construction and Development [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 2,298 | 5,470 | ||
Fiscal Year before Current Fiscal Year | 3,173 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 5,471 | 5,470 | ||
Construction and Development [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Construction and Development [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Commercial and Industrial Loans [Member] | Lines of Credit [Member] | ||||
Current Fiscal Year | 19,225 | 30,710 | ||
Fiscal Year before Current Fiscal Year | 18,796 | 22,409 | ||
Two Years before Current Fiscal Year | 11,216 | 3,232 | ||
Three Years before Current Fiscal Year | 3,066 | 1,071 | ||
Four Years before Current Fiscal Year | 337 | 8,951 | ||
More than Four Years before Current Fiscal Year | 7,909 | 1,783 | ||
Revolving | 368,875 | 371,592 | ||
Loans | 429,424 | 439,748 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | (3,633) | ||
Charge-offs | 0 | (3,633) | ||
Commercial and Industrial Loans [Member] | Lines of Credit [Member] | Pass [Member] | ||||
Current Fiscal Year | 13,843 | 30,553 | ||
Fiscal Year before Current Fiscal Year | 18,796 | 22,409 | ||
Two Years before Current Fiscal Year | 11,216 | 3,232 | ||
Three Years before Current Fiscal Year | 3,066 | 348 | ||
Four Years before Current Fiscal Year | 337 | 8,931 | ||
More than Four Years before Current Fiscal Year | 7,895 | 1,783 | ||
Revolving | 343,653 | 356,237 | ||
Loans | 398,806 | 423,493 | ||
Commercial and Industrial Loans [Member] | Lines of Credit [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 5,382 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 723 | ||
Four Years before Current Fiscal Year | 0 | 20 | ||
More than Four Years before Current Fiscal Year | 14 | 0 | ||
Revolving | 22,403 | 8,585 | ||
Loans | 27,799 | 9,328 | ||
Commercial and Industrial Loans [Member] | Lines of Credit [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 2,819 | 6,712 | ||
Loans | 2,819 | 6,712 | ||
Commercial and Industrial Loans [Member] | Lines of Credit [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 157 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 58 | ||
Loans | 0 | 215 | ||
Commercial and Industrial Loans [Member] | Lines of Credit [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Home Equity Line of Credit [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 212,443 | 211,390 | ||
Loans | 212,443 | 211,390 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | 0 | ||
Current period gross charge offs | 0 | (12) | ||
Charge-offs | 0 | (12) | ||
Home Equity Line of Credit [Member] | Pass [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 211,891 | 210,886 | ||
Loans | 211,891 | 210,886 | ||
Home Equity Line of Credit [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Home Equity Line of Credit [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 37 | 37 | ||
Loans | 37 | 37 | ||
Home Equity Line of Credit [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 515 | 467 | ||
Loans | 515 | 467 | ||
Home Equity Line of Credit [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Consumer Portfolio Segment [Member] | ||||
Current Fiscal Year | 7,341 | 30,864 | ||
Fiscal Year before Current Fiscal Year | 25,576 | 18,544 | ||
Two Years before Current Fiscal Year | 17,202 | 10,239 | ||
Three Years before Current Fiscal Year | 8,299 | 2,859 | ||
Four Years before Current Fiscal Year | 2,358 | 1,934 | ||
More than Four Years before Current Fiscal Year | 2,980 | 1,779 | ||
Revolving | 81,266 | 79,121 | ||
Loans | 145,022 | 145,340 | ||
Current period gross charge offs | (153) | (683) | ||
Current period gross charge offs | (6) | (22) | ||
Current period gross charge offs | 0 | (29) | ||
Current period gross charge offs | (13) | (43) | ||
Current period gross charge offs | (2) | (41) | ||
Current period gross charge offs | (33) | (27) | ||
Current period gross charge offs | (3) | (20) | ||
Charge-offs | (210) | $ (199) | (865) | |
Consumer Portfolio Segment [Member] | Pass [Member] | ||||
Current Fiscal Year | 7,341 | 30,823 | ||
Fiscal Year before Current Fiscal Year | 25,424 | 18,399 | ||
Two Years before Current Fiscal Year | 17,140 | 10,148 | ||
Three Years before Current Fiscal Year | 8,213 | 2,832 | ||
Four Years before Current Fiscal Year | 2,332 | 1,931 | ||
More than Four Years before Current Fiscal Year | 2,953 | 1,765 | ||
Revolving | 81,266 | 79,105 | ||
Loans | 144,669 | 145,003 | ||
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member] | ||||
Current Fiscal Year | 0 | 41 | ||
Fiscal Year before Current Fiscal Year | 152 | 145 | ||
Two Years before Current Fiscal Year | 62 | 91 | ||
Three Years before Current Fiscal Year | 86 | 27 | ||
Four Years before Current Fiscal Year | 26 | 3 | ||
More than Four Years before Current Fiscal Year | 27 | 14 | ||
Revolving | 0 | 16 | ||
Loans | 353 | 337 | ||
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||||
Current Fiscal Year | 0 | 0 | ||
Fiscal Year before Current Fiscal Year | 0 | 0 | ||
Two Years before Current Fiscal Year | 0 | 0 | ||
Three Years before Current Fiscal Year | 0 | 0 | ||
Four Years before Current Fiscal Year | 0 | 0 | ||
More than Four Years before Current Fiscal Year | 0 | 0 | ||
Revolving | 0 | 0 | ||
Loans | $ 0 | $ 0 | ||
[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 - Credit Card Loan Payment Activity (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Loans | [1] | $ 5,849,715 | $ 5,771,038 |
Credit Card Receivable [Member] | |||
Loans | 24,104 | 23,632 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Loans | 24,104 | 23,632 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Performing Financial Instruments [Member] | |||
Loans | 24,006 | 23,512 | |
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | $ 98 | $ 120 | |
[1]Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. |
Note 4 - Goodwill (Details Text
Note 4 - Goodwill (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Goodwill, Ending Balance | $ 194,074 | $ 194,074 |
Commercial Banking [Member] | ||
Goodwill, Ending Balance | 172,000 | 172,000 |
WM&T [Member] | ||
Goodwill, Ending Balance | $ 22,000 | $ 22,000 |
Note 4 - Goodwill - Carrying Va
Note 4 - Goodwill - Carrying Value of Goodwill (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Goodwill | $ 194,074 | $ 194,074 |
Commonwealth [Member] | ||
Goodwill | 58,244 | 58,244 |
Kentucky Bancshares [Member] | ||
Goodwill | 123,317 | 123,317 |
King Southern Bancorp [Member] | ||
Goodwill | 11,831 | 11,831 |
Austin State Bank [Member] | ||
Goodwill | $ 682 | $ 682 |
Note 5 - Core Deposit and Cus_3
Note 5 - Core Deposit and Customer List Intangible Assets (Details Textual) - USD ($) $ in Millions | Mar. 07, 2022 | May 31, 2021 | May 01, 2019 | Dec. 31, 2013 |
Core Deposits [Member] | Commonwealth [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 13 | |||
Core Deposits [Member] | Kentucky Bancshares [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 4 | |||
Core Deposits [Member] | King Bancorp Inc. [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2 | |||
Core Deposits [Member] | THE BANCorp [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 3 | |||
Customer Lists [Member] | Commonwealth [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 14 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amortization | $ (1,052) | $ (1,180) |
Core Deposits [Member] | ||
Balance at beginning of period | 11,944 | 14,958 |
Amortization | (672) | (762) |
Balance at end of period | 11,272 | 14,196 |
Customer Lists [Member] | ||
Balance at beginning of period | 8,360 | 10,032 |
Amortization | (380) | (418) |
Balance at end of period | $ 7,980 | $ 9,614 |
Note 5 - Core Deposit and Cus_5
Note 5 - Core Deposit and Customer List Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Core Deposits [Member] | ||||
Remainder of 2024 | $ 2,015 | |||
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 | 11,272 | $ 11,944 | $ 14,196 | $ 14,958 |
Customer Lists [Member] | ||||
Remainder of 2024 | 1,140 | |||
2025 | 1,368 | |||
2026 | 1,216 | |||
2027 | 1,064 | |||
2028 | 912 | |||
2029 | 760 | |||
2030 | 608 | |||
2031 | 456 | |||
2032 | 304 | |||
2033 | 152 | |||
Total future expense | $ 7,980 | $ 8,360 | $ 9,614 | $ 10,032 |
Note 6 - Other Assets - Summary
Note 6 - Other Assets - Summary of Major Components of Other Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Cash surrender value of life insurance other than BOLI | $ 18,773 | $ 17,843 | ||
Net deferred tax asset | 49,181 | 47,236 | ||
Investments in tax credit partnerships | 173,055 | 175,056 | ||
Swap assets | 10,823 | 5,133 | ||
Prepaid assets | 6,255 | 5,873 | ||
WM&T fees receivable | 4,551 | 4,205 | ||
Mortgage servicing rights | 12,544 | 13,082 | $ 14,623 | $ 15,219 |
Other real estate owned | 10 | 10 | ||
Other | 72,420 | 18,922 | ||
Total other assets | $ 347,612 | $ 287,360 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Assets [Abstract] | |||
Other Assets | $ 347,612 | $ 287,360 | |
Investment, Proportional Amortization Method, Elected, Amount | 173,000 | $ 175,000 | |
Investment Program, Proportional Amortization Method, Elected, Impairment Loss | $ 0 | $ 0 | |
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets | |
Domestic Tax Jurisdiction [Member] | |||
Open Tax Year | 2019 2020 2021 2022 2023 | ||
State and Local Jurisdiction [Member] | |||
Open Tax Year | 2018 2019 2020 2021 2022 2023 |
Note 7 - Income Taxes - Compone
Note 7 - Income Taxes - Components of Income Tax Expense (Benefit) from Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Federal | $ 5,116 | $ 5,194 |
State | 1,198 | 677 |
Total current income tax expense | 6,314 | 5,871 |
Federal | 587 | 1,417 |
State | 167 | 844 |
Total deferred income tax expense | 754 | 2,261 |
Change in valuation allowance | 0 | 0 |
Total income tax expense | $ 7,068 | $ 8,132 |
Note 7 - Income Taxes - Differe
Note 7 - Income Taxes - Difference Between Statutory and Effective Tax Rates (Details) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
U.S. federal statutory income tax rate | 21% | 21% |
State income taxes, net of federal benefit | 3.30% | 3.30% |
Excess tax benefit from stock-based compensation arrangements | 0.30% | (1.10%) |
Change in cash surrender value of life insurance | (1.00%) | (0.70%) |
Adoption of ASU 2023-02 | (1.30%) | 0% |
Tax credits | 0.60% | 0.40% |
Tax exempt interest income | (0.50%) | (0.50%) |
Insurance captive | 0% | (0.30%) |
Other, net | (0.90%) | (0.20%) |
Effective tax rate | 21.50% | 21.90% |
Note 7 - Income Taxes - Schedul
Note 7 - Income Taxes - Schedule of Unfunded Contributions (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
Remainder of 2024 | $ 35,791 |
2025 | 62,830 |
2026 | 33,634 |
2027 | 7,136 |
2028 | 793 |
Thereafter | 13,117 |
Total unfunded contributions | $ 153,301 |
Note 7 - Income Taxes - Tax Cre
Note 7 - Income Taxes - Tax Credits and Other Tax Benefits Recognized and Amortization Expense Related to Tax Credit Partnerships (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Tax credits and other tax benefits recognized | $ 3,551 | $ 350 |
Tax credits and other tax benefits recognized, effective yield | 0 | 399 |
Provision for Income Taxes [Member] | ||
Amortization expense | 2,853 | 398 |
Amortization expense, effective yield | 0 | 0 |
Noninterest Expense [Member] | ||
Amortization expense | 0 | 323 |
Amortization expense, effective yield | $ 0 | $ 0 |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Interest-Bearing Domestic Deposit, Brokered | $ 364 | $ 597 |
Note 8 - Deposits - Composition
Note 8 - Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Non-interest bearing demand deposits | $ 1,481,217 | $ 1,548,624 | |
Interest bearing demand | 2,414,118 | 2,480,357 | |
Savings | 436,501 | 438,834 | |
Money market | 1,241,822 | 1,219,656 | |
Time deposits of $250 thousand or more | 288,861 | 279,474 | |
Other time deposits | 746,561 | 703,803 | |
Total time deposits (1) | [1] | 1,035,422 | 983,277 |
Total interest bearing deposits | 5,127,863 | 5,122,124 | |
Total deposits | $ 6,609,080 | $ 6,670,748 | |
[1]Includes $364,000 and $597,000 in brokered deposits as of March 31, 2024 and December 31, 2023, respectively. |
Note 9 - Securities Sold Unde_3
Note 9 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreements to Repurchase (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Outstanding balance at end of period | $ 162,528 | $ 152,991 | |
Weighted average interest rate at end of period | 2.09% | 2.23% | |
Average outstanding balance during the period | $ 164,979 | $ 122,049 | |
Average interest rate during the period | 2.27% | 1.52% | |
Maximum outstanding at any month end during the period | $ 179,428 | $ 133,740 |
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 | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Face Value | $ 26,806 |
Carrying value | 26,806 |
Commonwealth Statutory Trust III [Member] | |
Face Value | 3,093 |
Carrying value | $ 3,093 |
Index | 2.85% |
Commonwealth Statutory Trust IV [Member] | |
Face Value | $ 12,372 |
Carrying value | $ 12,372 |
Index | 1.35% |
Commonwealth Statutory Trust V [Member] | |
Face Value | $ 11,341 |
Carrying value | $ 11,341 |
Index | 1.40% |
Note 10 - Subordinated Debent_5
Note 10 - Subordinated Debentures - Subordinated Notes (Details) (Parentheticals) | 3 Months Ended |
Mar. 31, 2024 | |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | Secured Overnight Financing Rate (SOFR) [Member] |
Note 11 - FHLB Advances and O_3
Note 11 - FHLB Advances and Other Borrowings (Details Textual) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Advance from Federal Home Loan Bank | $ 200 | $ 200 | |
Proceeds from FHLBank Advance, Investing Activities | 725 | $ 700 | |
Payments of FHLBank Borrowings, Financing Activities | 725 | 475 | |
Proceeds from FHLBank Advance, Investing Activities, Net of Short Term Maturities | 200 | 275 | |
Payments of FHLBank Borrowings, Financing Activities, Net of Short Term Maturities | 200 | $ 50 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 1,330 | ||
Correspondent Banks [Member] | |||
Federal Funds Corresponding Banks Maximum Amount Available | $ 80 |
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 Billions | Mar. 31, 2024 | Dec. 31, 2023 |
Advance from Federal Home Loan Bank | $ 0.2 | $ 0.2 |
Weighted average interest rate at end of period | 4.04% | 4.11% |
Note 12 - Commitments and Con_3
Note 12 - Commitments and Contingent Liabilities (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | $ 250,000 | |
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 | |
Other Liabilities [Member] | ||
Off-Balance-Sheet, Credit Loss, Liability | 6,100,000 | $ 5,900,000 |
Tax Credit Contribution Commitments | $ 153,000,000 |
Note 12 - Commitments and Con_4
Note 12 - Commitments and Contingent Liabilities - Off Balance Sheet Commitments to Extend Credit (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Off balance sheet commitments to extend credit | $ 2,538,097 | $ 2,456,664 |
Commercial and Industrial Loans [Member] | ||
Off balance sheet commitments to extend credit | 927,870 | 897,673 |
Construction and Development [Member] | ||
Off balance sheet commitments to extend credit | 634,705 | 606,668 |
Home Equity Loans [Member] | ||
Off balance sheet commitments to extend credit | 387,244 | 381,110 |
Credit Cards [Member] | ||
Off balance sheet commitments to extend credit | 84,209 | 83,700 |
Overdrafts [Member] | ||
Off balance sheet commitments to extend credit | 55,926 | 55,124 |
Letters of Credit [Member] | ||
Off balance sheet commitments to extend credit | 35,627 | 33,778 |
Other Off Balance Sheet Commitments [Member] | ||
Off balance sheet commitments to extend credit | 87,732 | 100,447 |
Future Loan Commitments [Member] | ||
Off balance sheet commitments to extend credit | $ 324,784 | $ 298,164 |
Note 13 - Assets and Liabilit_3
Note 13 - Assets and Liabilities Measured and Reported at Fair Value (Details Textual) $ in Thousands | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) |
Fair Value, Nonrecurring [Member] | ||
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 | Mar. 31, 2024 | Dec. 31, 2023 |
Securities available-for-sale | $ 993,808 | $ 1,031,179 |
Derivative | 10,823 | 5,133 |
Rate Lock Loan Commitments [Member] | ||
Derivative | 452 | 174 |
Mandatory Forward Contract [Member] | ||
Derivative | (41) | (43) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 90,896 | 99,847 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Securities available-for-sale | 660,620 | 688,039 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 121,257 | 123,490 |
Other Debt Obligations [Member] | ||
Securities available-for-sale | 3,557 | 3,534 |
Fair Value, Recurring [Member] | ||
Securities available-for-sale | 993,808 | 1,031,179 |
Mortgage loans held for sale | 6,462 | 6,056 |
Interest rate swap assets | 10,823 | 5,133 |
Total assets | 1,011,545 | 1,042,542 |
Interest rate swap liabilities | 7,743 | 5,378 |
Total liabilities | 7,784 | 5,421 |
Fair Value, Recurring [Member] | Rate Lock Loan Commitments [Member] | ||
Derivative | 452 | 174 |
Fair Value, Recurring [Member] | Mandatory Forward Contract [Member] | ||
Mandatory forward contracts | 41 | 43 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 117,478 | 116,269 |
Mortgage loans held for sale | 0 | 0 |
Interest rate swap assets | 0 | 0 |
Total assets | 117,478 | 116,269 |
Interest rate swap liabilities | 0 | 0 |
Total 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] | ||
Mandatory forward contracts | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 876,330 | 914,910 |
Mortgage loans held for sale | 6,462 | 6,056 |
Interest rate swap assets | 10,823 | 5,133 |
Total assets | 894,067 | 926,273 |
Interest rate swap liabilities | 7,743 | 5,378 |
Total liabilities | 7,784 | 5,421 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Rate Lock Loan Commitments [Member] | ||
Derivative | 452 | 174 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mandatory Forward Contract [Member] | ||
Mandatory forward contracts | 41 | 43 |
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 |
Total 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] | ||
Mandatory forward contracts | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | ||
Securities available-for-sale | 117,478 | 116,269 |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 117,478 | 116,269 |
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 | 90,896 | 99,847 |
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 | 90,896 | 99,847 |
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 Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Securities available-for-sale | 660,620 | 688,039 |
Fair Value, Recurring [Member] | Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 660,620 | 688,039 |
Fair Value, Recurring [Member] | Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [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 | 121,257 | 123,490 |
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 | 121,257 | 123,490 |
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 | 3,557 | 3,534 |
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 | 3,557 | 3,534 |
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) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Collateral dependent loans, fair value | $ 0 | $ 0 |
Collateral dependent loans, gain (loss) | 4 | 0 |
Other real estate owned, fair value | 0 | 0 |
Other real estate owned, gain (loss) | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | ||
Collateral dependent loans, fair value | 0 | 0 |
Other real estate owned, fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Collateral dependent loans, fair value | 7,632 | 13,561 |
Other real estate owned, fair value | 10 | 10 |
Fair Value, Inputs, Level 3 [Member] | ||
Collateral dependent loans, fair value | 7,632 | 13,561 |
Other real estate owned, fair value | $ 10 | $ 10 |
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 | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) |
Collateral dependent loans, fair value | $ 7,632 | $ 13,561 |
Other real estate owned, fair value | $ 10 | $ 10 |
Weighted Average [Member] | ||
Impaired Loans, Measurement Input | 0.084 | 0.18 |
Other Real Estate Owned, Measurement Input | 0.93 | 0.93 |
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 | Mar. 31, 2024 | Dec. 31, 2023 | |
Cash and cash equivalents | $ 160,223 | $ 265,959 | |
Accrued interest receivable | 26,074 | 26,830 | |
Non-interest bearing | 1,481,217 | 1,548,624 | |
Time deposits | [1] | 1,035,422 | 983,277 |
Accrued interest payable | 2,194 | 2,094 | |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 160,223 | 265,959 | |
HTM debt securities | 385,404 | 439,837 | |
Federal Home Loan Bank stock | 24,675 | 16,236 | |
Loans, net | 5,768,818 | 5,691,664 | |
Accrued interest receivable | 26,074 | 26,830 | |
Non-interest bearing | 1,481,217 | 1,548,624 | |
Transaction deposits | 4,092,441 | 4,138,847 | |
Time deposits | 1,035,422 | 983,277 | |
Securities sold under agreement to repurchase | 162,528 | 152,991 | |
Federal funds purchased | 9,961 | 12,852 | |
Subordinated debentures | 26,806 | 26,740 | |
FHLB advances | 200,000 | 200,000 | |
Accrued interest payable | 2,194 | 2,094 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 160,223 | 265,959 | |
HTM debt securities | 351,869 | 408,519 | |
Federal Home Loan Bank stock | 24,675 | 16,236 | |
Loans, net | 5,594,312 | 5,520,059 | |
Accrued interest receivable | 26,074 | 26,830 | |
Non-interest bearing | 1,481,217 | 1,548,624 | |
Transaction deposits | 4,092,441 | 4,138,847 | |
Time deposits | 1,029,116 | 976,841 | |
Securities sold under agreement to repurchase | 162,528 | 152,991 | |
Federal funds purchased | 9,961 | 12,852 | |
Subordinated debentures | 25,896 | 26,746 | |
FHLB advances | 193,213 | 200,047 | |
Accrued interest payable | 2,194 | 2,094 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 160,223 | 265,959 | |
HTM debt securities | 149,193 | 198,327 | |
Federal Home Loan Bank stock | 0 | 0 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 26,074 | 26,830 | |
Non-interest bearing | 1,481,217 | 1,548,624 | |
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 | 2,194 | 2,094 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
HTM debt securities | 202,676 | 210,192 | |
Federal Home Loan Bank stock | 24,675 | 16,236 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Non-interest bearing | 0 | 0 | |
Transaction deposits | 4,092,441 | 4,138,847 | |
Time deposits | 1,029,116 | 976,841 | |
Securities sold under agreement to repurchase | 162,528 | 152,991 | |
Federal funds purchased | 9,961 | 12,852 | |
Subordinated debentures | 25,896 | 26,746 | |
FHLB advances | 193,213 | 200,047 | |
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 | 5,594,312 | 5,520,059 | |
Accrued interest receivable | 0 | 0 | |
Non-interest bearing | 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 $364,000 and $597,000 in brokered deposits as of March 31, 2024 and December 31, 2023, respectively. |
Note 15 - Mortgage Banking Ac_3
Note 15 - Mortgage Banking Activities (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Loan, Managed and Securitized or Asset-Backed Financing Arrangement, Principal Outstanding | $ 1,900,000 | $ 1,930,000 |
Mortgage Servicing Rights [Member] | ||
Servicing Asset at Fair Value, Amount | 25,000 | 24,000 |
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance | $ 0 | $ 0 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance, beginning of period: | $ 6,056 | $ 2,606 |
Origination of mortgage loans held for sale | 22,617 | 24,683 |
Proceeds from the sale of mortgage loans held for sale | (22,552) | (21,107) |
Net gain realized on sale of mortgage loans held for sale | 341 | 215 |
Balance, end of period | $ 6,462 | $ 6,397 |
Note 15 - Mortgage Banking Ac_5
Note 15 - Mortgage Banking Activities - Mortgage Banking Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net gain realized on sale of mortgage loans held for sale | $ 341 | $ 215 |
Net change in fair value recognized on loans held for sale | 33 | 50 |
Net change in fair value recognized on rate lock loan commitments | 257 | 330 |
Net gain recognized | 659 | 548 |
Net loan servicing income | 960 | 1,188 |
Amortization | (738) | (761) |
Change in mortgage servicing rights valuation allowance | 0 | 0 |
Net servicing income recognized | 222 | 427 |
Other mortgage banking income | 67 | 63 |
Total mortgage banking income | 948 | 1,038 |
Foreign Exchange Forward [Member] | ||
Net change in fair value recognized on forward contracts | $ 28 | $ (47) |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance, beginning of period | $ 13,082 | $ 15,219 |
Additions for mortgage loans sold | 200 | 165 |
Amortization | (738) | (761) |
Balance, end of period | $ 12,544 | $ 14,623 |
Note 15 - Mortgage Banking Ac_7
Note 15 - Mortgage Banking Activities - Notional Amounts and Fair Values (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Mortgage loans held for sale, at fair value | $ 6,338 | $ 5,965 |
Mortgage loans held for sale, at fair value | 6,462 | 6,056 |
Derivative assets | 10,823 | 5,133 |
Rate Lock Loan Commitments [Member] | ||
Derivative assets | 452 | 174 |
Mandatory Forward Contract [Member] | ||
Derivative assets | (41) | (43) |
Other Assets [Member] | Rate Lock Loan Commitments [Member] | ||
Derivative, notional amount | 11,626 | 4,345 |
Other Assets [Member] | Mandatory Forward Contract [Member] | ||
Derivative, notional amount | $ 13,250 | $ 6,750 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance | $ 858,103 | $ 760,432 |
Balance | 874,711 | 794,368 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||
Balance | (92,678) | (115,648) |
Net current period other comprehensive income (loss) | (4,775) | 14,217 |
Balance | (97,453) | (101,431) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance | (179) | 0 |
Net current period other comprehensive income (loss) | 2,519 | 376 |
Balance | 2,340 | 376 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Balance | 59 | 112 |
Net current period other comprehensive income (loss) | 0 | 0 |
Balance | 59 | 112 |
AOCI Attributable to Parent [Member] | ||
Balance | (92,798) | (115,536) |
Net current period other comprehensive income (loss) | (2,256) | 14,593 |
Balance | $ (95,054) | $ (100,943) |
Note 17 - Preferred Stock (Deta
Note 17 - Preferred Stock (Details Textual) - $ / shares $ / shares in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net income available to stockholders | $ 25,887 | $ 29,048 |
Weighted average shares outstanding - basic (in shares) | 29,250 | 29,178 |
Dilutive securities (in shares) | 111 | 187 |
Weighted average shares outstanding- diluted (in shares) | 29,361 | 29,365 |
Net income per share - basic (in dollars per share) | $ 0.89 | $ 1 |
Net income per share - diluted (in dollars per share) | $ 0.88 | $ 0.99 |
Note 18 - Net Income Per Shar_3
Note 18 - Net Income Per Share - Antidilutive SARs (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Stock Appreciation Rights (SARs) [Member] | ||
Antidilutive SARs (in shares) | 115 | 48 |
Note 19 - Stock-based Compens_3
Note 19 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Apr. 25, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | 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) | 63,000 | ||||
Proceeds (Used for) and Received from Settlement of Stock Awards | $ 203,000 | $ 175,000 | |||
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) | 42,000 | 29,000 | |||
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) | 44,000 | 38,000 | |||
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 | 5.80% | 5.20% | |||
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) | 9,550 | 8,668 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value Granted | $ 500,000 | $ 550,000 | |||
Subsequent Event [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 1,000,000 |
Note 19 - Stock-based Compens_4
Note 19 - Stock-based Compensation - Fair Value Assumptions (Details) - Stock Appreciation Rights (SARs) [Member] | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Dividend yield | 2.29% | 2.24% |
Expected volatility | 28.43% | 27.20% |
Risk free interest rate | 4.16% | 3.84% |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Expense | $ 942 | $ 1,152 |
Deferred tax benefit | (197) | (243) |
Total net expense | 745 | 909 |
Stock Appreciation Rights (SARs) [Member] | ||
Expense | 69 | 99 |
Deferred tax benefit | (14) | (21) |
Total net expense | 55 | 78 |
Restricted Stock [Member] | ||
Expense | 420 | 412 |
Deferred tax benefit | (88) | (87) |
Total net expense | 332 | 325 |
Restricted Stock Units (RSUs) [Member] | ||
Expense | 124 | 132 |
Deferred tax benefit | (26) | (28) |
Total net expense | 98 | 104 |
Performance Shares [Member] | ||
Expense | 329 | 509 |
Deferred tax benefit | (69) | (107) |
Total net expense | $ 260 | $ 402 |
Note 19 - Stock-based Compens_6
Note 19 - Stock-based Compensation - Unrecognized Stock-based Compensation Expense (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
Remainder of 2024 | $ 2,701 |
2025 | 2,510 |
2026 | 1,554 |
2027 | 1,134 |
2028 | 588 |
2029 | 48 |
Total estimated future expense | 8,535 |
Stock Appreciation Rights (SARs) [Member] | |
Remainder of 2024 | 284 |
2025 | 336 |
2026 | 286 |
2027 | 216 |
2028 | 126 |
2029 | 11 |
Total estimated future expense | 1,259 |
Restricted Stock [Member] | |
Remainder of 2024 | 1,330 |
2025 | 1,567 |
2026 | 1,268 |
2027 | 918 |
2028 | 462 |
2029 | 37 |
Total estimated future expense | 5,582 |
Restricted Stock Units (RSUs) [Member] | |
Remainder of 2024 | 375 |
2025 | 1 |
2026 | 0 |
2027 | 0 |
2028 | 0 |
2029 | 0 |
Total estimated future expense | 376 |
Performance Shares [Member] | |
Remainder of 2024 | 712 |
2025 | 606 |
2026 | 0 |
2027 | 0 |
2028 | 0 |
2029 | 0 |
Total estimated future expense | $ 1,318 |
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 | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | ||
Unvested (in shares) | 440 | 435 | ||
Outstanding, aggregate intrinsic value | [1] | $ 5,371 | $ 6,297 | $ 12,784 |
Unvested, grant date weighted average cost (in dollars per share) | $ 6.86 | $ 6.02 | ||
Outstanding, weighted average remaining contractual life (Year) | 4 years 10 months 24 days | 4 years 8 months 12 days | 5 years 1 month 6 days | |
Awarded (in shares) | 42 | 29 | ||
Granted, aggregate intrinsic value | [1] | $ 0 | $ 0 | |
Fair value at grant date (in dollars per share) | $ 13.75 | $ 16.81 | ||
Exercised (in shares) | (1) | (24) | ||
Exercised, aggregate intrinsic value | [1] | $ 32 | $ 681 | |
Exercised weighted average fair value (in dollars per share) | $ 3.97 | $ 3.58 | ||
Forfeited (in shares) | 0 | 0 | ||
Unvested (in shares) | 481 | 440 | 435 | |
Unvested, grant date weighted average cost (in dollars per share) | $ 7.47 | $ 6.86 | $ 6.02 | |
Vested and exercisable (in shares) | 378 | |||
Vested and exercisable, aggregate intrinsic value | [1] | $ 5,212 | ||
Vested and exercisable, weighted average fair value (in dollars per share) | $ 6 | |||
Vested and exercisable, weighted average remaining contractual life (Year) | 3 years 10 months 24 days | |||
Unvested (in shares) | 103 | |||
Unvested, aggregate intrinsic value | [1] | $ (279) | ||
Unvested, weighted average fair value (in dollars per share) | $ 12.8 | |||
Unvested, weighted average remaining contractual life (Year) | 3 years 10 months 24 days | |||
Vested in the current year (in shares) | 43 | |||
Vested in the current year, aggregate intrinsic value | [1] | $ 66 | ||
Vested in the current year (in dollars per share) | $ 9.87 | |||
Minimum [Member] | ||||
Outstanding, exercise price (in dollars per share) | 19.44 | 19.37 | ||
Granted, exercise price (in dollars per share) | 47.95 | 60.76 | ||
Exercised, exercise price (in dollars per share) | 45.76 | 19.37 | ||
Outstanding, exercise price (in dollars per share) | 19.44 | 19.44 | 19.37 | |
Vested and exercisable, exercise price (in dollars per share) | 19.44 | |||
Unvested, exercise price (in dollars per share) | 36.65 | |||
Vested in the current year, exercise price (in dollars per share) | 36.65 | |||
Maximum [Member] | ||||
Outstanding, exercise price (in dollars per share) | 74.92 | 74.92 | ||
Granted, exercise price (in dollars per share) | 54.92 | 60.76 | ||
Exercised, exercise price (in dollars per share) | 45.76 | 19.37 | ||
Outstanding, exercise price (in dollars per share) | 74.92 | 74.92 | 74.92 | |
Vested and exercisable, exercise price (in dollars per share) | 60.76 | |||
Unvested, exercise price (in dollars per share) | 74.92 | |||
Vested in the current year, exercise price (in dollars per share) | 60.76 | |||
Weighted Average [Member] | ||||
Outstanding, exercise price (in dollars per share) | 38.11 | 35.6 | ||
Granted, exercise price (in dollars per share) | 49.2 | 60.76 | ||
Exercised, exercise price (in dollars per share) | 24.56 | 19.37 | ||
Outstanding, exercise price (in dollars per share) | 39.12 | $ 38.11 | $ 35.6 | |
Vested and exercisable, exercise price (in dollars per share) | 35.7 | |||
Unvested, exercise price (in dollars per share) | 51.61 | |||
Vested in the current year, exercise price (in dollars per share) | $ 47.37 | |||
[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 shares in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Unvested (in shares) | 98 | 96 |
Unvested, grant date weighted average cost (in dollars per share) | $ 54.23 | $ 47.26 |
Awarded (in shares) | 44 | 38 |
Fair value at grant date (in dollars per share) | $ 48.74 | $ 63.04 |
Restrictions lapsed and shares released (in shares) | (31) | (33) |
Restrictions lapsed and shares released, weighted average cost (in dollars per share) | $ 49.15 | $ 43.77 |
Shares cancelled (in shares) | (1) | (3) |
Shares cancelled, weighted average cost (in dollars per share) | $ 55.44 | $ 53.38 |
Unvested (in shares) | 110 | 98 |
Unvested, grant date weighted average cost (in dollars per share) | $ 53.49 | $ 54.23 |
Note 19 - Stock-based Compens_9
Note 19 - Stock-based Compensation - Performance-based Restricted Stock Units (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Expected shares to be awarded (in shares) | 63,000 | ||
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) | $ 41.84 | $ 54.33 | $ 48.48 |
Expected shares to be awarded (in shares) | 34,452 | 13,402 | 14,538 |
Note 20 - Derivative Financia_3
Note 20 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 | Aug. 07, 2023 | Feb. 06, 2023 |
Advance from Federal Home Loan Bank | $ 200 | $ 200 | ||
Three Month Advance Maturing May 2023 [Member] | ||||
Advance from Federal Home Loan Bank | $ 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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Receiving [Member] | ||
Notional amount | $ 200,074 | $ 201,555 |
Weighted average maturity (Year) | 5 years 8 months 12 days | 6 years |
Fair value | $ 7,735 | $ 5,133 |
Paying [Member] | ||
Notional amount | $ 200,074 | $ 201,555 |
Weighted average maturity (Year) | 5 years 8 months 12 days | 6 years |
Fair value | $ 7,743 | $ 5,142 |
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 | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Notional Amount | $ 200,000 |
Fair value | 3,088 |
Interest Rate Swap [Member] | |
Notional Amount | $ 100,000 |
Maturity Date | Feb. 06, 2028 |
Fixed rate | 3.27% |
Fair value | $ 2,988 |
Interest Rate Swap Maturing August 6, 2026 [Member] | |
Notional Amount | $ 50,000 |
Maturity Date | Aug. 06, 2026 |
Fixed rate | 4.38% |
Fair value | $ 16 |
Interest Rate Swap Maturing August 6, 2028 [Member] | |
Notional Amount | $ 50,000 |
Maturity Date | Aug. 06, 2028 |
Fixed rate | 3.97% |
Fair value | $ 84 |
Note 21 - Regulatory Matters (D
Note 21 - Regulatory Matters (Details Textual) $ in Thousands | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | 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 | $ 26,806 | $ 26,740 | ||
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 | [1] | 0.065 | 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 | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | |
Total risk-based capital, actual amount | [1] | $ 872,434 | $ 849,836 |
Total risk-based capital, actual ratio | [1] | 0.1269 | 0.1256 |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 549,896 | $ 541,370 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 0.08 | 0.08 |
Common Equity Tier 1 risk-based capital, actual amount | [1] | $ 763,818 | $ 747,376 |
Common Equity Tier 1 risk-based capital, actual ratio | [1] | 0.1111 | 0.1104 |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 309,316 | $ 304,521 |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 0.045 | 0.045 |
Tier 1 risk-based capital, actual amount | [1] | $ 789,818 | $ 773,376 |
Tier 1 risk-based capita, actual ratio | [1] | 0.1149 | 0.1143 |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 412,422 | $ 406,027 |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 0.06 | 0.06 |
Leverage, actual amount | $ 789,818 | $ 773,376 | |
Leverage, actual ratio | 0.0982 | 0.0962 | |
Leverage, minimum for adequately capitalized amount | $ 321,766 | $ 321,713 | |
Leverage, minimum for adequately capitalized ratio | 0.04 | 0.04 | |
Tier 1 risk-based capital, actual amount | [1] | $ 789,818 | $ 773,376 |
Subsidiaries [Member] | |||
Total risk-based capital, actual amount | [1] | $ 847,856 | $ 823,275 |
Total risk-based capital, actual ratio | [1] | 0.1237 | 0.1221 |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 548,183 | $ 539,609 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 0.08 | 0.08 |
Total risk-based capital, minimum for well capitalized amount | [1] | $ 685,228 | $ 674,511 |
Total risk-based capital, minimum for well capitalized ratio | [1] | 0.10 | 0.10 |
Common Equity Tier 1 risk-based capital, actual amount | [1] | $ 765,240 | $ 746,815 |
Common Equity Tier 1 risk-based capital, actual ratio | [1] | 0.1117 | 0.1107 |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 308,353 | $ 303,530 |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 0.045 | 0.045 |
Common Equity Tier 1 risk-based capital, minimum for well capitalized amount | [1] | $ 445,398 | $ 438,432 |
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | 0.065 | 0.065 |
Tier 1 risk-based capital, actual amount | [1] | $ 765,240 | $ 746,815 |
Tier 1 risk-based capita, actual ratio | [1] | 0.1117 | 0.1107 |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 411,137 | $ 404,707 |
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] | $ 548,183 | $ 539,609 |
Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | 0.08 | 0.08 |
Leverage, actual amount | $ 765,240 | $ 746,815 | |
Leverage, actual ratio | 0.0952 | 0.093 | |
Leverage, minimum for adequately capitalized amount | $ 321,523 | $ 321,323 | |
Leverage, minimum for adequately capitalized ratio | 0.04 | 0.04 | |
Leverage, minimum for well capitalized amount | $ 401,903 | $ 401,654 | |
Leverage, minimum for well capitalized ratio | 0.05 | 0.05 | |
Tier 1 risk-based capital, actual amount | [1] | $ 765,240 | $ 746,815 |
[1]Ratio is computed in relation to risk-weighted assets. |
Note 22 - Segments (Details Tex
Note 22 - Segments (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Goodwill, Ending Balance | $ 194,074 | $ 194,074 |
Commercial Banking [Member] | ||
Goodwill, Ending Balance | 172,000 | 172,000 |
WM&T [Member] | ||
Goodwill, Ending Balance | 22,000 | $ 22,000 |
Operating Segments [Member] | Commercial Banking [Member] | ||
Goodwill, Ending Balance | 172,000 | |
Operating Segments [Member] | WM&T [Member] | ||
Goodwill, Ending Balance | $ 22,000 |
Note 22 - Segments - Financial
Note 22 - Segments - Financial Information by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Net interest income | $ 60,070 | $ 63,072 | |
Provision for credit losses | 1,425 | 2,625 | |
All other non-interest income | 12,500 | 12,520 | |
Non-interest expenses | 48,961 | 45,314 | |
Income before income tax expense | 32,955 | 37,180 | |
Income tax expense | 7,068 | 8,132 | |
Net income | 25,887 | 29,048 | |
Segment assets | 8,123,128 | 7,667,648 | $ 8,170,102 |
Fiduciary and Trust [Member] | |||
Wealth management and trust services | 10,771 | 9,527 | |
Commercial Banking [Member] | |||
Net interest income | 59,794 | 62,944 | |
Provision for credit losses | 1,425 | 2,625 | |
Wealth management and trust services | 0 | ||
All other non-interest income | 12,500 | 12,520 | |
Non-interest expenses | 42,979 | 39,600 | |
Income before income tax expense | 27,890 | 33,239 | |
Income tax expense | 5,969 | 7,277 | |
Net income | 21,921 | 25,962 | |
Segment assets | 8,087,998 | 7,631,031 | |
Commercial Banking [Member] | Fiduciary and Trust [Member] | |||
Wealth management and trust services | 0 | 0 | |
Investment Management and Trust [Member] | |||
Net interest income | 276 | 128 | |
Provision for credit losses | 0 | 0 | |
Wealth management and trust services | 9,527 | ||
All other non-interest income | 0 | 0 | |
Non-interest expenses | 5,982 | 5,714 | |
Income before income tax expense | 5,065 | 3,941 | |
Income tax expense | 1,099 | 855 | |
Net income | 3,966 | 3,086 | |
Segment assets | 35,130 | $ 36,617 | |
Investment Management and Trust [Member] | Fiduciary and Trust [Member] | |||
Wealth management and trust services | $ 10,771 |
Note 23 - Revenue From Contra_3
Note 23 - Revenue From Contracts With Customers (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Trading Activity Charges Reducing Product Sales Commissions and Fees | $ 248,000 | $ 227,000 | |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 0 | ||
Fiduciary and Trust [Member] | |||
Accrued Fees and Other Revenue Receivable | $ 4,600,000 | $ 4,200,000 |
Note 23 - Revenue From Contra_4
Note 23 - Revenue From Contracts With Customers - Revenue by Operating Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Mortgage banking income | [1] | $ 948 | $ 1,038 |
Bank owned life insurance | [1] | 588 | 549 |
Loss on sale of premises and equipment | [1] | 0 | (2) |
Other | [2] | 656 | 1,232 |
Non-interest income | 23,271 | 22,047 | |
Fiduciary and Trust [Member] | |||
Non-interest income | 10,771 | 9,527 | |
Deposit Account [Member] | |||
Non-interest income | 2,136 | 2,149 | |
Credit and Debit Card [Member] | |||
Non-interest income | 4,682 | 4,482 | |
Treasury Management [Member] | |||
Non-interest income | 2,625 | 2,318 | |
Product Sales Commissions and Fees [Member] | |||
Non-interest income | 865 | 754 | |
Commercial Banking [Member] | |||
Non-interest income | 0 | ||
Mortgage banking income | [1] | 948 | 1,038 |
Bank owned life insurance | [1] | 588 | 549 |
Loss on sale of premises and equipment | [1] | 0 | (2) |
Other | [2] | 656 | 1,232 |
Non-interest income | 12,500 | 12,520 | |
Commercial Banking [Member] | Fiduciary and Trust [Member] | |||
Non-interest income | 0 | 0 | |
Commercial Banking [Member] | Deposit Account [Member] | |||
Non-interest income | 2,136 | 2,149 | |
Commercial Banking [Member] | Credit and Debit Card [Member] | |||
Non-interest income | 4,682 | 4,482 | |
Commercial Banking [Member] | Treasury Management [Member] | |||
Non-interest income | 2,625 | 2,318 | |
Commercial Banking [Member] | Product Sales Commissions and Fees [Member] | |||
Non-interest income | 865 | 754 | |
WM&T [Member] | |||
Mortgage banking income | [1] | 0 | 0 |
Bank owned life insurance | [1] | 0 | 0 |
Loss on sale of premises and equipment | [1] | 0 | 0 |
Other | [2] | 0 | 0 |
Non-interest income | 10,771 | 9,527 | |
WM&T [Member] | Fiduciary and Trust [Member] | |||
Non-interest income | 10,771 | 9,527 | |
WM&T [Member] | Deposit Account [Member] | |||
Non-interest income | 0 | 0 | |
WM&T [Member] | Credit and Debit Card [Member] | |||
Non-interest income | 0 | 0 | |
WM&T [Member] | Treasury Management [Member] | |||
Non-interest income | 0 | 0 | |
WM&T [Member] | Product Sales Commissions and Fees [Member] | |||
Non-interest income | $ 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) | 3 Months Ended |
Mar. 31, 2024 | |
Lessee, Operating Lease, Renewal Term (Year) | 5 years |
Lessee, Operating Lease, Lease yet Commenced, Number of Lease | 2 |
Minimum [Member] | |
Operating Lease, Remaining Lease Term (Month) | 2 months |
Maximum [Member] | |
Operating Lease, Remaining Lease Term (Month) | 16 years |
Note 24 - Leases - Balance Shee
Note 24 - Leases - Balance Sheet, Income Statement, and Cash Flow Detail Regarding Operating Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Operating lease right-of-use asset | $ 26,300 | $ 21,007 | |
Operating lease liability | $ 27,776 | $ 22,487 | |
Weighted average remaining lease term (years) (Year) | 9 years 8 months 12 days | 9 years 9 months 18 days | |
Weighted average discount rate | 3.39% | 2.84% | |
One year or less | $ 3,033 | $ 3,365 | |
Year two | 3,596 | 2,864 | |
Year three | 3,290 | 2,543 | |
Year four | 3,298 | 2,536 | |
Year five | 3,324 | 2,547 | |
Greater than five years | 16,183 | 12,059 | |
Total lease payments | 32,724 | 25,914 | |
Less imputed interest | 4,948 | $ 3,427 | |
Operating lease cost | 1,046 | $ 840 | |
Variable lease cost | 83 | 71 | |
Less sublease income | 26 | 25 | |
Total lease cost | 1,103 | 886 | |
Cash paid for operating lease liabilities | $ 1,328 | $ 1,071 |