Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Jul. 31, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000861842 | |
Entity Registrant Name | Cathay General Bancorp | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-31830 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 95-4274680 | |
Entity Address, Address Line One | 777 North Broadway | |
Entity Address, City or Town | Los Angeles | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90012 | |
City Area Code | 213 | |
Local Phone Number | 625-4700 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | CATY | |
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 | 78,160,561 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and due from banks | $ 133,507 | $ 138,616 |
Short-term investments and interest-bearing deposits | 1,589,086 | 1,282,462 |
Securities available-for-sale (amortized cost of $991,724 at June 30, 2021 and $1,019,230 at December 31, 2020) | 1,002,515 | 1,036,550 |
Loans | 15,690,689 | 15,644,396 |
Less: Allowance for loan losses | (131,256) | (166,538) |
Unamortized deferred loan fees, net | (6,865) | (2,494) |
Loans, net | 15,552,568 | 15,475,364 |
Equity securities | 20,113 | 23,744 |
Federal Home Loan Bank stock | 17,250 | 17,250 |
Other real estate owned, net | 4,871 | 4,918 |
Affordable housing investments and alternative energy partnerships, net | 286,833 | 309,016 |
Premises and equipment, net | 100,917 | 102,998 |
Customers’ liability on acceptances | 7,560 | 13,753 |
Accrued interest receivable | 56,092 | 59,032 |
Goodwill | 372,189 | 372,189 |
Other intangible assets, net | 5,041 | 5,434 |
Right-of-use assets - operating leases | 31,310 | 30,919 |
Other assets | 168,510 | 170,889 |
Total assets | 19,348,362 | 19,043,134 |
Deposits: | ||
Non-interest-bearing demand deposits | 3,664,931 | 3,365,086 |
Interest-bearing deposits: | ||
NOW deposits | 2,026,154 | 1,926,135 |
Money market deposits | 4,003,043 | 3,359,191 |
Savings deposits | 900,106 | 785,672 |
Time deposits | 5,943,279 | 6,673,317 |
Total deposits | 16,537,513 | 16,109,401 |
Advances from the Federal Home Loan Bank | 20,000 | 150,000 |
Other borrowings of affordable housing investments | 23,249 | 23,714 |
Long-term debt | 119,136 | 119,136 |
Acceptances outstanding | 7,560 | 13,753 |
Lease liabilities - operating leases | 34,194 | 33,484 |
Other liabilities | 154,353 | 175,502 |
Total liabilities | 16,896,005 | 16,624,990 |
Commitments and contingencies | 0 | 0 |
Stockholders’ Equity | ||
Common stock, $0.01 par value, 100,000,000 shares authorized; 90,825,937 issued and 78,158,590 outstanding at June 30, 2021, and 90,643,206 issued and 79,508,265 outstanding at December 31, 2020 | 908 | 906 |
Additional paid-in-capital | 967,166 | 964,734 |
Accumulated other comprehensive income, net | 2,372 | 5,310 |
Retained earnings | 1,887,571 | 1,789,325 |
Treasury stock, at cost (12,638,514 shares at June 30, 2021, and 11,134,941 shares at December 31, 2020) | (405,660) | (342,131) |
Total equity | 2,452,357 | 2,418,144 |
Total liabilities and equity | $ 19,348,362 | $ 19,043,134 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Securities available-for-sale, amortized cost | $ 991,724 | $ 1,019,230 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 90,825,937 | 90,643,206 |
Common stock, shares outstanding (in shares) | 78,158,590 | 79,508,265 |
Treasury stock shares (in shares) | 12,638,514 | 11,134,941 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Interest and Dividend Income | ||||
Loans receivable, including loan fees | $ 161,493 | $ 168,149 | $ 321,214 | $ 346,019 |
Investment securities | 3,189 | 5,405 | 6,256 | 13,015 |
Federal Home Loan Bank stock | 255 | 214 | 472 | 519 |
Deposits with banks | 438 | 240 | 753 | 1,191 |
Total interest and dividend income | 165,375 | 174,008 | 328,695 | 360,744 |
Interest Expense | ||||
Time deposits | 10,055 | 30,811 | 24,064 | 65,966 |
Other deposits | 5,465 | 5,919 | 11,059 | 13,910 |
Advances from Federal Home Loan Bank | 415 | 1,316 | 890 | 2,868 |
Long-term debt | 1,439 | 1,440 | 2,863 | 2,880 |
Deferred payments from acquisition | 0 | 42 | 0 | 100 |
Short-term borrowings | 0 | 5 | 0 | 234 |
Total interest expense | 17,374 | 39,533 | 38,876 | 85,958 |
Net interest income before provision for credit losses | 148,001 | 134,475 | 289,819 | 274,786 |
Provision for credit losses | 9,000 | (25,000) | 22,558 | (50,000) |
Net interest income after provision for credit losses | 157,001 | 109,475 | 312,377 | 224,786 |
Non-Interest Income | ||||
Net (losses)/gains from equity securities | (879) | 5,779 | (3,631) | (323) |
Securities losses, net | 0 | 1,147 | 853 | 1,153 |
Letters of credit commissions | 1,782 | 1,560 | 3,472 | 3,200 |
Depository service fees | 1,343 | 1,117 | 2,706 | 2,415 |
Other operating income | 10,337 | 6,003 | 19,183 | 14,947 |
Total non-interest income | 12,583 | 15,606 | 22,583 | 21,392 |
Non-Interest Expense | ||||
Salaries and employee benefits | 32,758 | 28,197 | 65,480 | 59,136 |
Occupancy expense | 4,960 | 4,963 | 10,006 | 10,140 |
Computer and equipment expense | 3,647 | 2,581 | 6,918 | 5,174 |
Professional services expense | 5,756 | 5,200 | 10,466 | 10,345 |
Data processing service expense | 3,243 | 3,566 | 6,898 | 7,232 |
FDIC and regulatory assessments | 1,440 | 2,446 | 3,365 | 4,861 |
Marketing expense | 1,443 | 915 | 4,325 | 2,801 |
Other real estate owned expense/(income) | 191 | 452 | 285 | (3,652) |
Amortization of investments in low income housing and alternative energy partnerships | 10,682 | 12,934 | 22,252 | 26,824 |
Amortization of core deposit intangibles | 171 | 171 | 343 | 343 |
Costs associated with debt redemption | 0 | 0 | 732 | 0 |
Other operating expense | 5,416 | 5,843 | 10,040 | 9,218 |
Total non-interest expense | 69,707 | 67,268 | 141,110 | 132,422 |
Income before income tax expense | 99,877 | 57,813 | 193,850 | 113,756 |
Income tax expense | 22,678 | 3,492 | 43,267 | 12,583 |
Net income | 77,199 | 54,321 | 150,583 | 101,173 |
Other Comprehensive Income, net of tax | ||||
Unrealized holding (losses)/gains on securities available-for-sale | 247 | (481) | (4,039) | 11,376 |
Unrealized holding gains/(losses) on cash flow hedge derivatives | 439 | (235) | 1,702 | (4,513) |
Less: reclassification adjustments for losses included in net income | 0 | 808 | 601 | 812 |
Total other comprehensive (loss)/gain, net of tax | 686 | (1,524) | (2,938) | 6,051 |
Total other comprehensive income | $ 77,885 | $ 52,797 | $ 147,645 | $ 107,224 |
Net Income Per Common Share: | ||||
Basic (in dollars per share) | $ 0.98 | $ 0.68 | $ 1.90 | $ 1.27 |
Diluted (in dollars per share) | 0.97 | 0.68 | 1.89 | 1.27 |
Cash dividends paid per common share (in dollars per share) | $ 0.31 | $ 0.31 | $ 0.62 | $ 0.62 |
Average Common Shares Outstanding: | ||||
Basic (in shares) | 79,167,004 | 79,581,097 | 79,347,886 | 79,584,587 |
Diluted (in shares) | 79,418,668 | 79,682,426 | 79,624,344 | 79,756,226 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock Outstanding [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Treasury Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total | |
Balance (in shares) at Dec. 31, 2019 | 79,729,419 | ||||||||||||
Beginning balance, loss, net of tax at Dec. 31, 2019 | $ 900,000 | $ 950,466,000 | $ 2,302,000 | $ 1,659,153,000 | $ (318,538,000) | $ 2,294,283,000 | |||||||
Dividend Reinvestment Plan (in shares) | 72,568 | ||||||||||||
Dividend Reinvestment Plan | $ 1,000 | 1,705,000 | 0 | 0 | 0 | 1,706,000 | |||||||
Restricted stock units vested (in shares) | 186,887 | ||||||||||||
Restricted stock units vested | $ 2,000 | 0 | 0 | 0 | 0 | 2,000 | |||||||
Shares withheld related to net share settlement of RSUs | 0 | (1,899,000) | 0 | 0 | 0 | (1,899,000) | |||||||
Stock issued to directors | $ 0 | 800,000 | 0 | 0 | 0 | 800,000 | |||||||
Purchases of treasury stock (in shares) | (400,000) | ||||||||||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (12,880,000) | (12,880,000) | |||||||
Stock-based compensation | 0 | 2,544,000 | 0 | 0 | 0 | 2,544,000 | |||||||
Cash dividends | 0 | 0 | 0 | (49,332,000) | 0 | (49,332,000) | |||||||
Other comprehensive income (loss) | 0 | 0 | 6,051,000 | 0 | 0 | 6,051,000 | |||||||
Net income | $ 0 | 0 | 0 | 101,173,000 | 0 | 101,173,000 | |||||||
Balance (in shares) at Jun. 30, 2020 | 79,619,984 | ||||||||||||
Ending balance, loss, net of tax at Jun. 30, 2020 | $ 903,000 | 953,616,000 | 8,353,000 | 1,710,994,000 | (331,418,000) | 2,342,448,000 | |||||||
Balance (in shares) at Mar. 31, 2020 | 79,420,267 | ||||||||||||
Beginning balance, loss, net of tax at Mar. 31, 2020 | $ 902,000 | 952,331,000 | 9,877,000 | 1,681,345,000 | (331,418,000) | 2,313,037,000 | |||||||
Dividend Reinvestment Plan (in shares) | 32,903 | ||||||||||||
Dividend Reinvestment Plan | $ 0 | 860,000 | 0 | 0 | 0 | 860,000 | |||||||
Restricted stock units vested (in shares) | 135,704 | ||||||||||||
Restricted stock units vested | $ 1,000 | 0 | 0 | 0 | 0 | 1,000 | |||||||
Shares withheld related to net share settlement of RSUs | $ 0 | (1,376,000) | 0 | 0 | 0 | (1,376,000) | |||||||
Stock issued to directors (in shares) | 31,110 | ||||||||||||
Stock issued to directors | $ 0 | 800,000 | 0 | 0 | 0 | 800,000 | |||||||
Stock-based compensation | 0 | 1,001,000 | 0 | 0 | 0 | 1,001,000 | |||||||
Cash dividends | 0 | 0 | 0 | (24,672,000) | 0 | (24,672,000) | |||||||
Other comprehensive income (loss) | 0 | 0 | (1,524,000) | 0 | 0 | (1,524,000) | |||||||
Net income | $ 0 | 0 | 0 | 54,321,000 | 0 | 54,321,000 | |||||||
Balance (in shares) at Jun. 30, 2020 | 79,619,984 | ||||||||||||
Ending balance, loss, net of tax at Jun. 30, 2020 | $ 903,000 | 953,616,000 | 8,353,000 | 1,710,994,000 | (331,418,000) | 2,342,448,000 | |||||||
Balance (in shares) at Dec. 31, 2020 | 79,508,265 | ||||||||||||
Beginning balance, loss, net of tax (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2020 | [1] | $ 0 | $ 0 | $ 0 | $ (3,139) | $ 0 | $ (3,139) | ||||||
Beginning balance, loss, net of tax at Dec. 31, 2020 | $ 906,000 | 964,734,000 | 5,310,000 | 1,789,325,000 | (342,131,000) | 2,418,144,000 | |||||||
Dividend Reinvestment Plan (in shares) | 40,059 | ||||||||||||
Dividend Reinvestment Plan | $ 1,000 | 1,724,000 | 0 | 0 | 0 | 1,725,000 | |||||||
Restricted stock units vested (in shares) | 121,922 | ||||||||||||
Restricted stock units vested | $ 1,000 | 0 | 0 | 0 | 0 | 1,000 | |||||||
Shares withheld related to net share settlement of RSUs | $ 0 | (2,594,000) | 0 | 0 | 0 | (2,594,000) | |||||||
Stock issued to directors (in shares) | 20,750 | ||||||||||||
Stock issued to directors | $ 0 | 850,000 | 0 | 0 | 0 | $ 850,000 | |||||||
Purchases of treasury stock (in shares) | (1,532,406) | (1,532,406) | |||||||||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (63,529,000) | $ (63,529,000) | |||||||
Stock-based compensation | 0 | 2,452,000 | 0 | 0 | 0 | 2,452,000 | |||||||
Cash dividends | 0 | 0 | 0 | (49,198,000) | 0 | (49,198,000) | |||||||
Other comprehensive income (loss) | 0 | 0 | (2,938,000) | 0 | 0 | (2,938,000) | |||||||
Net income | $ 0 | 0 | 0 | 150,583,000 | 0 | 150,583,000 | |||||||
Balance (in shares) at Jun. 30, 2021 | 78,158,590 | ||||||||||||
Ending balance, loss, net of tax at Jun. 30, 2021 | $ 908,000 | 967,166,000 | 2,372,000 | 1,887,571,000 | (405,660,000) | 2,452,357,000 | |||||||
Balance (in shares) at Mar. 31, 2021 | 79,595,025 | ||||||||||||
Beginning balance, loss, net of tax at Mar. 31, 2021 | [2] | $ 907,000 | 965,566,000 | 1,686,000 | 1,834,920,000 | (342,131,000) | 2,460,948,000 | ||||||
Dividend Reinvestment Plan (in shares) | 20,023 | ||||||||||||
Dividend Reinvestment Plan | $ 1,000 | 856,000 | 0 | 0 | 0 | 857,000 | |||||||
Restricted stock units vested (in shares) | 55,198 | ||||||||||||
Restricted stock units vested | $ 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Shares withheld related to net share settlement of RSUs | $ 0 | (1,315,000) | 0 | 0 | 0 | (1,315,000) | |||||||
Stock issued to directors (in shares) | 20,750 | ||||||||||||
Stock issued to directors | $ 0 | 850,000 | 0 | 0 | 0 | 850,000 | |||||||
Purchases of treasury stock (in shares) | (1,532,406) | ||||||||||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (63,529,000) | (63,529,000) | |||||||
Stock-based compensation | 0 | 1,209,000 | 0 | 0 | 0 | 1,209,000 | |||||||
Cash dividends | 0 | 0 | 0 | (24,548,000) | 0 | (24,548,000) | |||||||
Other comprehensive income (loss) | 0 | 0 | 686,000 | 0 | 0 | 686,000 | |||||||
Net income | $ 0 | 0 | 0 | 77,199,000 | 0 | 77,199,000 | |||||||
Balance (in shares) at Jun. 30, 2021 | 78,158,590 | ||||||||||||
Ending balance, loss, net of tax at Jun. 30, 2021 | $ 908,000 | $ 967,166,000 | $ 2,372,000 | $ 1,887,571,000 | $ (405,660,000) | $ 2,452,357,000 | |||||||
[1] | Balance sheet amounts previously reported for the impact of the initial adoption of CECL on January 1, 2021 have been corrected. The correction had an after-tax decrease to the cumulative effect of the change in accounting principle related to ASC 326 of $2.3 million. | ||||||||||||
[2] | Balance sheet amounts previously reported for the impact of the initial adoption of CECL on January 1, 2021 have been corrected. The correction had an after-tax decrease to the cumulative effect of the change in accounting principle related to ASC326 of $2.3 million. |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Revision of Prior Period, Error Correction, Adjustment [Member] | Correction of Balance Sheet Amounts [Member] | ||||
Retained earnings adjustments | $ 2,300 | $ 2,300 | ||
Retained Earnings [Member] | ||||
Cash dividends (in dollars per share) | $ 0.31 | $ 0.31 | $ 0.62 | $ 0.62 |
Retained earnings adjustments | $ (1,887,571) | $ (1,887,571) | ||
Cash dividends (in dollars per share) | $ 0.31 | $ 0.31 | $ 0.62 | $ 0.62 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Cash Flows from Operating Activities | |||||
Net income | $ 77,199 | $ 54,321 | $ 150,583 | $ 101,173 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
(Reversal)/provision for credit losses | (6,600) | 25,000 | (18,710) | 50,000 | |
Provision for losses on other real estate owned | 47 | 717 | |||
Deferred tax provision | 11,685 | (4,896) | |||
Depreciation and amortization | 4,156 | 3,688 | |||
Amortization of right-of-use asset | 4,461 | 4,249 | |||
Change in operating lease liabilities | 710 | 535 | |||
Net gains on sale and transfer of other real estate owned | 0 | (4,554) | |||
Net gains on sale of loans | (357) | (85) | |||
Proceeds from sales of loans | 6,345 | 2,850 | |||
Originations of loans held for sale | (5,988) | (2,764) | |||
Amortization on alternative energy partnerships, venture capital and other investments | 22,387 | 26,728 | |||
Net gain on sales and calls of securities | (853) | (1,153) | |||
Amortization/accretion of security premiums/discounts, net | 4,322 | 3,953 | |||
Loss on sales or disposal of fixed assets | 55 | 45 | |||
Unrealized loss on equity securities | 900 | (5,800) | 3,631 | 323 | |
Stock-based compensation and stock issued to officers as compensation | 3,302 | 3,344 | |||
Net change in accrued interest receivable and other assets | (4,966) | (10,592) | |||
Net change in other liabilities | (14,433) | (1,330) | |||
Net cash provided by operating activities | 166,377 | 172,231 | |||
Cash Flows from Investing Activities | |||||
Purchase of investment securities available-for-sale | (244,567) | (216,745) | |||
Proceeds from sale of investment securities available-for-sale | 21,102 | 107,539 | |||
Proceeds from sale of equity securities | 0 | 3,112 | |||
Proceeds from repayments, maturities and calls of investment securities available-for-sale | 247,508 | 427,139 | |||
Purchase of Federal Home Loan Bank stock | 0 | (840) | |||
Redemptions of Federal Home Loan Bank stock | 0 | 1,680 | |||
Net increase in loans | (61,195) | (536,212) | |||
Purchase of premises and equipment | (1,787) | (3,316) | |||
Proceeds from sales of other real estate owned | 0 | 2,246 | |||
Net increase in investment in affordable housing and alternative energy partnerships | (10,618) | (38,331) | |||
Net cash used for investing activities | (49,557) | (253,728) | |||
Cash Flows from Financing Activities | |||||
Net increase in deposits | 428,291 | 1,589,416 | |||
Advances from Federal Home Loan Bank | 50,000 | 1,450,000 | |||
Repayment of Federal Home Loan Bank borrowings | (180,000) | (1,890,000) | |||
Cash dividends paid | (49,198) | (49,332) | |||
Proceeds from other borrowings | 0 | 91 | |||
Purchases of treasury stock | (63,529) | (12,880) | |||
Repayment of short-term borrowings | 0 | (25,683) | |||
Proceeds from shares issued under Dividend Reinvestment Plan | 1,725 | 1,707 | |||
Taxes paid related to net share settlement of RSUs | (2,594) | (1,899) | |||
Net cash provided by financing activities | 184,695 | 1,061,420 | |||
Decrease in cash, cash equivalents, and restricted cash | 301,515 | 979,923 | |||
Cash, cash equivalents, and restricted cash, beginning of the period | 1,421,078 | 593,778 | $ 593,778 | ||
Cash, cash equivalents, and restricted cash, end of the period | $ 1,722,593 | $ 1,573,701 | 1,722,593 | 1,573,701 | $ 1,421,078 |
Supplemental disclosure of cash flow information | |||||
Interest | 44,669 | 94,251 | |||
Income taxes paid | 36,791 | 32,104 | |||
Non-cash investing and financing activities: | |||||
Net change in unrealized holding loss on securities available-for-sale, net of tax | (4,639) | 10,564 | |||
Net change in unrealized holding loss on cash flow hedge derivatives | $ 1,702 | $ (4,513) |
Note 1 - Business
Note 1 - Business | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Cathay General Bancorp (“Bancorp”) is the holding company for Cathay Bank (the “Bank” and, together, with Bancorp, the “Company”), ten five 1962 June 30, 2021, four two one one not |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 10 X. not not may December 31, 2021. 10 December 31, 2020. The preparation of the Consolidated Financial Statements in accordance with GAAP requires management of the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Consolidated Financial Statements. Actual results could differ from those estimates. The Company expects that the most significant estimates subject to change are the allowance for loan losses. Summary of Significant Accounting Policies With the exception of the updated accounting policies listed below, the accompanying unaudited interim consolidated financial statements have been prepared on a consistent basis with the accounting policies described in Consolidated Financial Statements and Supplementary Data - Note 1 8 2020 10K. Securities Available for Sale Prior to January 1, 2021, not not Effective January 1, 2021, 2016 13, 1 2 not Interest income includes amortization of premiums and discounts as an adjustment of yield on a level-yield basis. Premiums on callable debt securities are amortized to their earliest call date. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. A debt security is placed on nonaccrual status at the time any principal or interest payments become delinquent by 90 not No Allowance for Credit Losses on Available for Sale Securities For available-for-sale (“AFS”) debt securities in an unrealized loss position, the Company first not not not Changes in the allowance for credit losses are recorded as provision for credit loss expense. Losses are charged against the allowance when management believes the uncollectability of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. The amortized cost of the Company’s AFS debt securities excludes accrued interest, which is included in “accrued interest receivable” on the Consolidated Balance Sheets. The Company has made an accounting policy election not Trading securities are reported at fair value, with unrealized gains or losses included in income. Loans Held for Investment Loans receivable that the Company has the intent and ability to hold for the foreseeable future or until maturity are stated at their outstanding principal, reduced by an allowance for loan losses and net of deferred loan fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Nonrefundable fees and direct costs associated with the origination or purchase of loans are deferred and netted against outstanding loan balances. The deferred net loan fees and costs are recognized in interest income as an adjustment to yield over the loan term using the effective interest method or straight-line method. Discounts or premiums on purchased loans are accreted or amortized to interest income using the effective interest method or straight-line method over the remaining period to contractual maturity. Interest on loans is calculated using the simple-interest method on daily balances of the principal amounts outstanding based on an actual or 360 Generally, loans are placed on nonaccrual status when they become 90 not not not Loans Held for Sale Held for sale loans are carried at the lower of aggregate cost or fair value. Gains and losses are recorded in non-interest income based on the difference between sales proceeds, net of sales commissions, and carrying value. When a determination is made at the time of commitment to originate or purchase loans as held-for-investment, it is the Company’s intent to hold these loans to maturity or for the “foreseeable future,” subject to periodic review under the Company’s management evaluation processes, including asset/liability management. When the Company subsequently changes its intent to hold certain loans, the loans are transferred from the loans held-for-investment portfolio at amortized cost to the loans held-for-sale portfolio at lower of aggregate cost or fair value and the existing ACL on the loans transferred is reversed. Allowance for Credit Losses on Loans Held for Investment. Effective January 1, 2021, 2016 13, The ACL on loans held for investment is the combination of the allowance for loan losses and the reserve for unfunded loan commitments. The allowance for loan losses is reported as a reduction of the amortized cost basis of loans, while the reserve for unfunded loan commitments is included within "other liabilities" on the Consolidated Balance Sheets (Unaudited). The amortized cost basis of loans does not Under the CECL approach, management estimates the ACL using relevant available information from internal and external sources, relating to past events, current conditions, and reasonable and supportable economic forecasts that vary by loan portfolio. We use economic forecasts from Moody’s Analytics in this process. The economic forecast is updated monthly; therefore, the one one not one Under the CECL methodology, quantitative and qualitative loss factors are applied to our population of loans on a collective pool basis when similar risk characteristics exist. When loans do not not may one 1 2 not Under the Company’s CECL methodology, nine three six six 2007 fourth 2020. fourth 2007 fourth 2020. The Company’s CECL methodology utilizes an eight four 1 10th 3 90th four six The Company’s CECL methodology estimates expected credit losses over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: (i) management has a reasonable expectation at the reporting date that a troubled debt restructuring will be executed with an individual borrower or (ii) the extension or renewal options are included in the original or modified contract at the reporting date and are not The simplified approach portfolios include Small Business Administration (“SBA”) loans, Home Equity Lines of Credit (“HELOCs”) and cash-secured loans, which are not three first eight four Under the Company’s CECL methodology, the qualitative portion of the reserve on pooled loans represents management’s judgment of additional considerations to account for internal and external risk factors that are not may not The CECL methodology requires a significant amount of management judgment in determining the appropriate allowance for credit losses. Several of the steps in the methodology involve judgment and are subjective in nature including, among other things: segmenting the loan portfolio; determining the amount of loss history to consider; selecting predictive econometric regression models that use appropriate macroeconomic variables; determining the methodology to forecast prepayments; selecting the most appropriate economic forecast scenario; determining the length of the R&S forecast and reversion periods; estimating expected utilization rates on unfunded loan commitments; and assessing relevant and appropriate qualitative factors. In addition, the CECL methodology is dependent on economic forecasts that are inherently imprecise and will change from period to period. Although the allowance for credit losses is considered by management to be appropriate, there can be no Management believes the allowance for credit losses is appropriate for the current expected credit losses in our loan portfolio and associated unfunded commitments, and the credit risk ratings and inherent loss rates currently assigned are reasonable and appropriate as of the reporting date. Individually Evaluated Loans Loans that do not no may one 90 Impaired Loans Prior to January 1, 2021, may 1 2 3 first Troubled Debt Restructured Loan ( TDR ) A TDR is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may six The allowance for credit loss on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit loss is determined by discounting the expected future cash flows at the original interest rate of the loan. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) as extended by the Consolidated Appropriation Act, 2021 19 not March 1, 2020 January 1, 2022 60 not 30 December 31, 2019. Unfunded Loan Commitments Unfunded loan commitments are generally related to providing credit facilities to clients of the Bank and are not 9 The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company, using the same loss factors as used for the allowance for loan losses. The reserve for unfunded loan commitments uses the expected historical usage rate of the unfunded commitments during the contractual life of the commitments. The allowance for unfunded commitments is included in “other liabilities” on the Consolidated Balance Sheets. Changes in the allowance for unfunded commitments are included in the provision for loan losses. |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 3. Accounting Standards Adopted in 2021 In June 2016, 2016 13, 326 not The FASB issued additional ASUs containing clarifying guidance, transition relief provisions and minor updates to the original ASU. These include ASU 2018 19 November 2018), 2019 04 April 2019), 2019 05 May 2019), 2019 10 November 2019), 2019 11 November 2019), 2020 02 February 2020) 2020 03 March 2020). 2016 13 December 15, 2019. first Effective January 1, 2021, 2016 13 326, not Under the CECL approach, the standard requires immediate recognition of estimated credit losses expected to occur over the estimated remaining life of the asset. The forward-looking concept of CECL requires loss estimates to consider historical experience, current conditions and reasonable and supportable forecasts. The standard modifies the other-than-temporary impairment model for available-for-sale debt securities to require entities to record an allowance when recognizing credit losses for available-for-sale securities, rather than reducing the amortized cost of the securities by direct write-offs. The Company adopted the new standard using the modified retrospective approach and recognized a cumulative effect adjustment to decrease retained earnings by $3.1 million, net of taxes, and decrease the allowance for loan losses by $1.6 million and increase the reserve for unfunded loan commitments by $6.0 million without restating prior periods and applied the requirements of the new standard prospectively. There was no 8. Loans The following table sets forth the cumulative effect of the changes to the Company’s unaudited Consolidated Balance Sheets at January 1, 2021, 326: Balance at December 31, 2020 Adjustments due to Adoption of ASC 326 * Balance at January 1, 2021 * (In thousands) Assets: Allowance for credit losses on loans $ 166,538 $ (1,560 ) $ 164,978 Deferred tax assets $ 85,610 $ 1,319 $ 86,929 Liabilities: Allowance for unfunded commitments $ 5,880 $ 6,018 $ 11,898 Stockholders' equity: Retained earnings, net of tax $ 2,418,144 $ (3,140 ) $ 2,415,004 * Balance sheet amounts previously reported for the impact of the initial adoption of CECL have been corrected. The correction decreased the allowance for loan losses by $2.2 million, increased the deferred tax asset by $1.0 million, increased the allowance for unfunded credit commitments by $5.5 million and had an after-tax decrease to opening retained earnings of $2.3 million. In July 2017, 2017 11, 260 480 815 two 480, December 15, 2020. first 250 10 45 5 45 10. not not 2017 11 not In December 2019, No. 2019 12, 740 740 not December 15, 2020 not 2019 12 not In January 2020, No. 2020 01, 321 323 815 321, 323, 815.” December 15, 2020. not No. 2020 01 323, 321 not 2020 01 not Other Accounting Standards Pending Adoption In March 2020, No. 2020 04, 848 No. 2020 04 March 12, 2020 December 31, 2022. December 31, 2022. 2020 02 In January 2021, 2021 01, 848 2021 01 848 2021 01 848 2021 01 December 31, 2022. 2021 01 |
Note 4 - Cash, Cash Equivalents
Note 4 - Cash, Cash Equivalents and Restricted Cash | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 4. The Company manages its cash and cash equivalents based upon the Company’s operating, investment, and financing activities. Cash and cash equivalents, including for purposes of reporting cash flows, consist of cash on hand, amounts due from banks, and short-term investments with original maturity of three The Company is required to maintain reserves with the Federal Reserve Bank. Reserve requirements are based on a percentage of deposit liabilities. The average reserve balances required were zero and $60 thousand for the six June 30, 2021 December 31, 2020, June 30, 2021 December 31, 2020, June 30, 2021 December 31, 2020, June 30, 2021 December 31, 2020, |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 5. Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that then shared in earnings. Restricted stock units (“RSUs”) with anti-dilutive effect were not Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands, except share and per share data) Net income $ 77,199 $ 54,321 $ 150,583 $ 101,173 Weighted-average shares: Basic weighted-average number of common shares outstanding 79,167,004 79,581,097 79,347,886 79,584,587 Dilutive effect of weighted-average outstanding common share equivalents RSUs 251,664 101,329 276,458 171,639 Diluted weighted-average number of common shares outstanding 79,418,668 79,682,426 79,624,344 79,756,226 Average restricted stock units with anti-dilutive effect 19,170 126,084 44,996 86,741 Earnings per common share: Basic $ 0.98 $ 0.68 $ 1.90 $ 1.27 Diluted $ 0.97 $ 0.68 $ 1.89 $ 1.27 |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 6. Pursuant to the Company’s 2005 may RSUs are generally granted at no three one three may may Performance-based RSUs are granted at the target amount of awards. Based on the Company’s attainment of specified performance goals and consideration of market conditions, the number of shares that vest can be adjusted to a minimum of zero three Compensation costs for the time-based awards are based on the quoted market price of the Company’s stock at the grant date. Compensation costs associated with performance-based RSUs are based on grant date fair value, which considers both market and performance conditions. Compensation costs of both time-based and performance-based awards are recognized on a straight-line basis from the grant date until the vesting date of each grant. The following table presents RSU activity during the six June 30, 2021: Time-Based RSUs Performance-Based RSUs Weighted-Average Weighted-Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at December 31, 2020 292,670 $ 33.37 302,802 $ 32.55 Granted 60,666 41.11 — — Vested (93,856 ) 41.87 (76,292 ) 42.56 Forfeited (23,324 ) 29.92 (7,768 ) 40.60 Balance at June 30, 2021 236,156 $ 32.52 218,742 $ 28.77 The compensation expense recorded for RSUs was $1.2 million and $1.0 million for the three June 30, 2021, 2020, six June 30, 2021 2020, June 30, 2021 2020, June 30, 2021, As of June 30, 2021, 2005 Tax deficiency from share-based payment arrangements increased income tax expense by $17 thousand and $0.4 million in the six June 30, 2021, 2020, |
Note 7 - Investment Securities
Note 7 - Investment Securities | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7. The following tables set forth the amortized cost, gross unrealized gains, gross unrealized losses, and fair value of securities available-for-sale as of June 30, 2021, December 31, 2020: June 30, 2021 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 40,458 $ 9 $ — $ 40,467 U.S. government agency entities 92,120 1,329 137 93,312 Mortgage-backed securities 739,672 13,640 3,836 749,476 Collateralized mortgage obligations 10,010 — 274 9,736 Corporate debt securities 109,464 659 599 109,524 Total $ 991,724 $ 15,637 $ 4,846 $ 1,002,515 December 31, 2020 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 80,948 $ 6 $ 6 $ 80,948 U.S. government agency entities 99,944 441 546 99,839 Mortgage-backed securities 709,709 17,965 606 727,068 Collateralized mortgage obligations 10,358 — 34 10,324 Corporate debt securities 118,271 367 267 118,371 Total $ 1,019,230 $ 18,779 $ 1,459 $ 1,036,550 As of June 30, 2021, see Note 2. Basis of Presentation and Summary of Significant Accounting Policies 10Q. The amortized cost and fair value of securities available-for-sale as of June 30, 2021, may may June 30, 2021 Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 65,472 $ 65,511 Due after one year through five years 71,862 71,254 Due after five years through ten years 161,771 166,473 Due after ten years 692,619 699,277 Total $ 991,724 $ 1,002,515 Equity Securities three June 30, 2021, three June 30, 2020. six June 30, 2021, six June 30, 2020. June 30, 2021, December 31, 2020, The following tables set forth the gross unrealized losses and related fair value of the Company’s investment portfolio, aggregated by investment category and the length of time that individual security has been in a continuous unrealized loss position, as of June 30, 2021, December 31, 2020: June 30, 2021 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. government agency entities $ — $ — $ 2,475 $ 137 $ 2,475 $ 137 Mortgage-backed securities 298,310 3,159 7,583 677 305,893 3,836 Collateralized mortgage obligations 9,574 264 162 10 9,736 274 Corporate debt securities 50,611 352 9,753 247 60,364 599 Total $ 358,495 $ 3,775 $ 19,973 $ 1,071 $ 378,468 $ 4,846 December 31, 2020 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. treasury securities $ 40,952 $ 6 $ — $ — $ 40,952 $ 6 U.S. government agency entities 26,390 102 40,009 444 66,399 546 Mortgage-backed securities 1,694 23 8,093 583 9,787 606 Collateralized mortgage obligations 10,131 25 193 9 10,324 34 Corporate debt securities 58,405 267 — — 58,405 267 Total $ 137,572 $ 423 $ 48,295 $ 1,036 $ 185,867 $ 1,459 Allowance for Credit Losses The securities that were in an unrealized loss position at June 30, 2021, see Note 2 Basis of Presentation and Summary of Significant Accounting Policies - Allowance for Credit Losses on Available for Sale Securities 10Q. The Company concluded the unrealized losses were primarily attributed to yield curve movement, together with widened liquidity spreads and credit spreads. The issuers have not, no not no June 30, 2021, no six June 30, 2021. six June 30, 2020, no Securities available-for-sale having a carrying value of $20.6 million and $22.7 million as of June 30, 2021, December 31, 2020, |
Note 8 - Loans
Note 8 - Loans | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. Most of the Company’s business activities are with customers located in the high-density Asian-populated areas of Southern and Northern California; New York City, New York; Dallas and Houston, Texas; Seattle, Washington; Boston, Massachusetts; Chicago, Illinois; Edison, New Jersey; Rockville, Maryland; and Las Vegas, Nevada. The Company also has loan customers in Hong Kong. The Company has no The types of loans in the Company’s Consolidated Balance Sheets as of June 30, 2021 December 31, 2020, June 30, 2021 December 31, 2020 (In thousands) Commercial loans $ 2,867,437 $ 2,836,833 Residential mortgage loans 4,103,736 4,145,389 Commercial mortgage loans 7,615,088 7,555,027 Real estate construction loans 664,495 679,492 Equity lines 436,801 424,555 Installment and other loans 3,132 3,100 Gross loans $ 15,690,689 $ 15,644,396 Allowance for loan losses (131,256 ) (166,538 ) Unamortized deferred loan fees, net (6,865 ) (2,494 ) Total loans, net $ 15,552,568 $ 15,475,364 As of June 30, 2021, December 31, 2020, June 30, 2021. December 31, 2020. The following table presents the average recorded investment and interest income recognized on non-accrual loans for the period indicated: Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 24,450 $ 31 $ 26,348 $ 43 Real estate construction loans 4,149 73 4,189 170 Commercial mortgage loans 36,792 100 38,445 157 Residential mortgage loans and equity lines 8,653 8 8,541 16 Total non-accrual loans $ 74,044 $ 212 $ 77,523 $ 386 In connection with the adoption of ASU 2016 13, no Three Months Ended Six Months Ended June 30, 2020 June 30, 2020 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 33,695 $ 71 $ 30,913 $ 95 Real estate construction loans 4,458 49 4,482 147 Commercial mortgage loans 36,225 375 36,225 824 Residential mortgage loans and equity lines 17,724 78 14,547 149 Total impaired loans $ 92,102 $ 573 $ 86,167 $ 1,215 The following table presents non-accrual loans and the related allowance as of June 30, 2021: June 30, 2021 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 26,552 $ 14,253 $ — Real estate construction loans 5,776 4,116 — Commercial mortgage loans 20,774 20,003 — Residential mortgage loans and equity lines 7,096 6,921 — Subtotal $ 60,198 $ 45,293 $ — With allocated allowance Commercial loans $ 2,309 $ 2,080 $ 22 Commercial mortgage loans 16,976 16,881 5,139 Residential mortgage loans and equity lines 3,996 3,528 — Subtotal $ 23,281 $ 22,489 $ 5,161 Total non-accrual loans $ 83,479 $ 67,782 $ 5,161 In connection with the adoption of ASU 2016 13, no December 31, 2020: December 31, 2020 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 23,784 $ 20,698 $ — Real estate construction loans 5,776 4,286 — Commercial mortgage loans 22,877 22,287 — Residential mortgage loans and equity lines 6,379 6,307 — Subtotal $ 58,816 $ 53,578 $ — With allocated allowance Commercial loans $ 13,703 $ 6,372 $ 1,030 Commercial mortgage loans 31,134 31,003 5,254 Residential mortgage loans and equity lines 5,005 4,452 145 Subtotal $ 49,842 $ 41,827 $ 6,429 Total impaired loans $ 108,658 $ 95,405 $ 6,429 The following tables present the aging of the loan portfolio by type as of June 30, 2021, December 31, 2020: June 30, 2021 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Commercial loans $ 17,010 $ 599 $ 1,249 $ 16,333 $ 35,191 $ 2,832,246 $ 2,867,437 Real estate construction loans — — — 4,116 4,116 660,379 664,495 Commercial mortgage loans 228 — — 36,884 37,112 7,577,976 7,615,088 Residential mortgage loans and equity lines 588 2,300 264 10,449 13,601 4,526,936 4,540,537 Installment and other loans 1,000 — — — 1,000 2,132 3,132 Total loans $ 18,826 $ 2,899 $ 1,513 $ 67,782 $ 91,020 $ 15,599,669 $ 15,690,689 December 31, 2020 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Commercial loans $ 52,601 $ 3,182 $ 2,947 $ 23,087 $ 81,817 $ 2,755,016 $ 2,836,833 Real estate construction loans 6,257 — — 4,286 10,543 668,949 679,492 Commercial mortgage loans 45,186 18,069 2,035 33,715 99,005 7,456,022 7,555,027 Residential mortgage loans and equity lines 14,315 4,223 — 6,596 25,134 4,544,810 4,569,944 Installment and other loans 43 — — — 43 3,057 3,100 Total loans $ 118,402 $ 25,474 $ 4,982 $ 67,684 $ 216,542 $ 15,427,854 $ 15,644,396 The allowance for credit loss on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit loss is determined by discounting the expected future cash flows at the original interest rate of the loan. The Company establishes a specific reserve for individually evaluated loans that do not Basis of Presentation and Summary of Significant Accounting Policies Although the Company took steps to incorporate the impact of the COVID- 19 A TDR is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may six As of June 30, 2021, December 31, 2020. June 30, 2021, December 31, 2020. three six June 30, 2021 2020, June 30, 2021, 2020, three six June 30, 2021, 2020: Three Months Ended June 30, 2021 June 30, 2021 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans — $ — $ — $ — $ — Total — $ — $ — $ — $ — Three Months Ended June 30, 2020 June 30, 2020 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 1 $ 1,900 $ 1,900 $ — $ 86 Total 1 $ 1,900 $ 1,900 $ — $ 86 Six Months Ended June 30, 2021 June 30, 2021 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 1 $ 686 $ 686 $ — $ — Total 1 $ 686 $ 686 $ — $ — Six Months Ended June 30, 2020 June 30, 2020 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 3 $ 2,434 $ 2,434 $ — $ 86 Total 3 $ 2,434 $ 2,434 $ — $ 86 Modifications of the loan terms in the six June 30, 2021, three twelve We expect that the TDRs on accruing status as of June 30, 2021, June 30, 2021, December 31, 2020, June 30, 2021 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 4,373 $ — $ — $ 4,373 Commercial mortgage loans 444 5,580 13,221 19,245 Residential mortgage loans 1,497 254 1,892 3,643 Total accruing TDRs $ 6,314 $ 5,834 $ 15,113 $ 27,261 June 30, 2021 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 7,903 $ — $ — $ 7,903 Residential mortgage loans 499 — — 499 Total non-accrual TDRs $ 8,402 $ — $ — $ 8,402 December 31, 2020 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 3,983 $ — $ — $ 3,983 Commercial mortgage loans 515 5,635 13,425 19,575 Residential mortgage loans 1,724 275 2,164 4,163 Total accruing TDRs $ 6,222 $ 5,910 $ 15,589 $ 27,721 December 31, 2020 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 8,462 $ — $ — $ 8,462 Residential mortgage loans 523 — — 523 Total non-accrual TDRs $ 8,985 $ — $ — $ 8,985 The activity within TDRs for the periods indicated is set forth below: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) Accruing TDRs Beginning balance $ 27,864 $ 34,364 $ 27,721 $ 35,336 New restructurings — 1,900 686 2,434 Payments (603 ) (4,593 ) (1,146 ) (6,099 ) Ending balance $ 27,261 $ 31,671 $ 27,261 $ 31,671 Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) Non-accrual TDRs Beginning balance $ 8,661 $ 17,889 $ 8,985 $ 18,048 Charge-offs — (4,970 ) — (4,970 ) Payments (259 ) (249 ) (583 ) (408 ) Ending balance $ 8,402 $ 12,670 $ 8,402 $ 12,670 The Company considers a loan to be in payment default once it is 60 to 90 days contractually past due under the modified terms. The Company did not twelve June 30, 2021. Under the Company’s internal underwriting policy, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification in order to determine whether a borrower is experiencing financial difficulty. As of June 30, 2021, no The CARES Act, signed into law on March 27, 2020, 19 March 1, 2020, January 1, 2022 60 not 30 December 31, 2019. 19 19 As part of the on-going monitoring of the credit quality of our loan portfolio, the Company utilizes a risk grading matrix to assign a risk grade to each loan. Loans are risk rated based on analysis of the current state of the borrower’s credit quality. The analysis of credit quality includes a review of sources of repayment, the borrower’s current financial and liquidity status and other relevant information. The risk rating categories can be generally described by the following grouping for non-homogeneous loans: ● Pass/Watch ● Special Mention not may ● Substandard may not not ● Doubtful may ● Loss no In connection with the adoption of ASU 2016 13, no December 31, 2020: December 31, 2020 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,581,128 $ 141,344 $ 108,788 $ 5,573 $ 2,836,833 Real estate construction loans 593,196 82,010 4,286 — 679,492 Commercial mortgage loans 7,202,568 186,283 166,176 — 7,555,027 Residential mortgage loans and equity lines 4,547,052 11,647 11,245 — 4,569,944 Installment and other loans 3,100 — — — 3,100 Total gross loans $ 14,927,044 $ 421,284 $ 290,495 $ 5,573 $ 15,644,396 The following table summarizes the Company’s loan held for investment by loan portfolio segments, internal risk ratings and vintage year. The vintage year is the year of origination, renewal or major modification: Loans Amortized Cost Basis by Origination Year June 30, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 399,319 $ 391,221 $ 275,646 $ 218,678 $ 98,676 $ 72,443 $ 1,219,335 $ 7,527 $ 2,682,845 Special Mention — 100 12,675 7,953 2,892 1,023 28,928 227 53,798 Substandard 31 5,409 23,927 17,287 9,084 4,594 56,434 6,606 123,372 Doubtful — — — — — — 2,247 — 2,247 Loss — — — — — — — — — Total $ 399,350 $ 396,730 $ 312,248 $ 243,918 $ 110,652 $ 78,060 $ 1,306,944 $ 14,360 $ 2,862,262 YTD period charge-offs $ — $ 73 $ 50 $ 366 $ — $ 50 $ 16,311 $ — $ 16,850 YTD period recoveries — — — (26 ) — (163 ) (1,236 ) — (1,425 ) Net $ — $ 73 $ 50 $ 340 $ — $ (113 ) $ 15,075 $ — $ 15,425 Real estate construction loans Pass/Watch $ 131,786 $ 213,818 $ 157,612 $ 64,904 $ 29,489 $ — $ — $ — $ 597,609 Special Mention 4,643 25,075 13,759 16,422 — — — — 59,899 Substandard — — — — — 4,116 — — 4,116 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 136,429 $ 238,893 $ 171,371 $ 81,326 $ 29,489 $ 4,116 $ — $ — $ 661,624 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial mortgage loans Pass/Watch $ 758,939 $ 1,303,822 $ 1,333,604 $ 1,170,110 $ 857,806 $ 1,580,820 $ 169,817 $ — $ 7,174,918 Special Mention 18,212 48,108 37,578 78,294 46,799 84,134 2,899 — 316,024 Substandard — 1,698 6,789 46,616 1,804 64,785 875 — 122,567 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 777,151 $ 1,353,628 $ 1,377,971 $ 1,295,020 $ 906,409 $ 1,729,739 $ 173,591 $ — $ 7,613,509 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — (120 ) — — (14 ) (56 ) — (190 ) Net $ — $ — $ (120 ) $ — $ — $ (14 ) $ (56 ) $ — $ (190 ) Residential mortgage loans Pass/Watch $ 445,397 $ 708,691 $ 771,944 $ 582,883 $ 507,289 $ 1,067,965 $ — $ — $ 4,084,169 Special Mention — 240 4,389 2,009 848 1,897 — — 9,383 Substandard — 161 3,058 2,533 707 5,301 — — 11,760 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 445,397 $ 709,092 $ 779,391 $ 587,425 $ 508,844 $ 1,075,163 $ — $ — $ 4,105,312 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — (208 ) — — (208 ) Net $ — $ — $ — $ — $ — $ (208 ) $ — $ — $ (208 ) Equity lines Pass/Watch $ — $ — $ — $ — $ — $ 9 $ 403,327 $ 32,797 $ 436,133 Special Mention — — — — — — — — — Substandard — — — — — — 1,250 602 1,852 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ — $ — $ — $ — $ 9 $ 404,577 $ 33,399 $ 437,985 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — (5 ) (10 ) (15 ) Net $ — $ — $ — $ — $ — $ — $ (5 ) $ (10 ) $ (15 ) Installment and other loans Pass/Watch $ 1,056 $ 2,076 $ — $ — $ — $ — $ — $ — $ 3,132 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 1,056 $ 2,076 $ — $ — $ — $ — $ — $ — $ 3,132 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Total loans $ 1,759,383 $ 2,700,419 $ 2,640,981 $ 2,207,689 $ 1,555,394 $ 2,887,087 $ 1,885,112 $ 47,759 $ 15,683,824 Net charge-offs/(recoveries) $ — $ 73 $ (70 ) $ 340 $ — $ (335 ) $ 15,014 $ (10 ) $ 15,012 Revolving loans that are converted to term loans presented in the table above are excluded from the term loans by vintage year columns. The following table sets forth the balance in the allowance for loan losses by portfolio segment and based on impairment method as of December 31, 2020. no December 31, 2020, 2016 13, December 31, 2020 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 1,030 $ — $ 5,254 $ 145 $ — $ 6,429 Balance $ 27,070 $ 4,286 $ 53,289 $ 10,760 $ — $ 95,405 Loans collectively evaluated for impairment Allowance $ 67,712 $ 30,854 $ 43,951 $ 17,592 $ — $ 160,109 Balance $ 2,809,763 $ 675,206 $ 7,501,738 $ 4,559,184 $ 3,100 $ 15,548,991 Total allowance $ 68,742 $ 30,854 $ 49,205 $ 17,737 $ — $ 166,538 Total balance $ 2,836,833 $ 679,492 $ 7,555,027 $ 4,569,944 $ 3,100 $ 15,644,396 The following tables set forth activity in the allowance for loan losses by portfolio segment for the three six June 30, 2021, June 30, 2020. one not Three months ended June 30, 2021 2020 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) March 31, 2021 Ending Balance * $ 42,034 $ 6,992 $ 65,347 $ 30,734 $ 3 $ 145,110 Provision/(reversal) for possible credit losses 5,590 (873 ) (7,416 ) (3,899 ) (2 ) (6,600 ) Charge-offs (7,712 ) — — — — (7,712 ) Recoveries 155 — 95 208 — 458 Net (charge-offs)/recoveries (7,557 ) — 95 208 — (7,254 ) June 30, 2021 Ending Balance $ 40,067 $ 6,119 $ 58,026 $ 27,043 $ 1 $ 131,256 Allowance for unfunded credit commitments March 31, 2021 * $ 8,163 $ 2,251 $ 36 $ — $ — $ 10,450 Provision/(reversal) for possible credit losses (3,775 ) 1,330 45 — — (2,400 ) Allowance for unfunded credit commitments June 30, 2021 $ 4,388 $ 3,581 $ 81 $ — $ — $ 8,050 * Balance sheet amounts previously reported for the impact of the initial adoption of CECL on January 1, 2021 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) March 31, 2020 Ending Balance $ 67,799 $ 23,222 $ 39,886 $ 17,366 $ — $ 148,273 Provision/(reversal) for possible credit losses 18,213 3,478 1,151 2,158 — 25,000 Charge-offs (5,106 ) — — — — (5,106 ) Recoveries 1,350 — 95 68 — 1,513 Net (charge-offs)/recoveries (3,756 ) — 95 68 — (3,593 ) June 30, 2020 Ending Balance $ 82,256 $ 26,700 $ 41,132 $ 19,592 $ — $ 169,680 Six months ended June 30, 2021 2020 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2021 Beginning Balance $ 68,742 $ 30,854 $ 49,205 $ 17,737 $ — $ 166,538 Impact of ASU 2016-13 adoption * (31,466 ) (24,307 ) 34,993 19,211 9 (1,560 ) Allowance for loan losses, January 1, 2021 * 37,276 6,547 84,198 36,948 9 164,978 Provision/(reversal) for possible credit losses 18,216 (428 ) (26,362 ) (10,128 ) (8 ) (18,710 ) Charge-offs (16,850 ) — — — — (16,850 ) Recoveries 1,425 — 190 223 — 1,838 Net (charge-offs)/recoveries (15,425 ) — 190 223 — (15,012 ) June 30, 2021 Ending Balance $ 40,067 $ 6,119 $ 58,026 $ 27,043 $ 1 $ 131,256 Allowance for unfunded credit commitments December 31, 2020 $ 4,802 $ 690 $ 101 $ 284 $ 3 $ 5,880 Impact of ASU 2016-13 adoption * 3,236 3,135 (66 ) (284 ) (3 ) 6,018 Allowance for loan losses, January 1, 2021 * 8,038 3,825 35 — — 11,898 Provision/(reversal) for possible credit losses (3,650 ) (244 ) 46 — — (3,848 ) Allowance for unfunded credit commitments June 30, 2021 $ 4,388 $ 3,581 $ 81 $ — $ — $ 8,050 * Balance sheet amounts previously reported for the impact of the initial adoption of CECL on January 1, 2021 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2020 Beginning Balance $ 57,021 $ 19,474 $ 33,602 $ 13,108 $ 19 $ 123,224 Provision/(reversal) for possible credit losses 29,104 7,226 7,280 6,409 (19 ) 50,000 Charge-offs (6,427 ) — — — — (6,427 ) Recoveries 2,558 — 250 75 — 2,883 Net (charge-offs)/recoveries (3,869 ) — 250 75 — (3,544 ) June 30, 2020 Ending Balance $ 82,256 $ 26,700 $ 41,132 $ 19,592 $ — $ 169,680 Reserve for impaired loans $ 6,895 $ — $ 323 $ 307 $ — $ 7,525 Reserve for non-impaired loans $ 75,361 $ 26,700 $ 40,809 $ 19,285 $ — $ 162,155 Reserve for off-balance sheet credit commitments $ 3,581 $ 666 $ 117 $ 297 $ 2 $ 4,663 The U.S. economy has gradually recovered from the COVID- 19 first 2021. The ongoing COVID- 19 19 • The Company has provided loans through the SBA's Paycheck Protection Program, (or “PPP”). As of June 30, 2021, not • The Company has outstanding COVID- 19 June 30, 2021, • As of June 30, 2021, 22 19 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. From time to time, Bancorp and its subsidiaries are parties to litigation that arise in the ordinary course of business or otherwise are incidental to various aspects of its operations. Based upon information available to the Company and its review of any such litigation with counsel, management presently believes that the liability relating to such litigation, if any, would not one Although the Company establishes accruals for legal proceedings when information related to the loss contingencies represented by those matters indicates both that a loss is probable and that the amount of loss can be reasonably estimated, the Company does not may not may In the normal course of business, the Company from time to time becomes a party to financial instruments with off-balance sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit in the form of loans, or through commercial or standby letters of credit and financial guarantees. These instruments represent varying degrees of exposure to risk in excess of the amounts included in the accompanying Consolidated Balance Sheets. The contractual or notional amount of these instruments indicates a level of activity associated with a particular class of financial instrument and is not The Company’s unfunded commitments related to investments in qualified affordable housing and alternative energy partnerships were $89.5 million and $103.1 million as of June 30, 2021, December 31, 2020, |
Note 10 - Leases
Note 10 - Leases | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 10. The Company determines if a contract arrangement is a lease at inception and primarily enters into operating lease contracts for its branch locations, office space and certain equipment. As part of its property lease agreements, the Company may not June 30, 2021. ASU 2016 02, 842 No. 2018 01, 842”; No. 2018 10, 842, No. 2018 11, 12 not not not The following table presents the operating lease amounts reported on the Consolidated Balance Sheets, and other supplemental information as of June 30, 2021 December 31, 2020: June 30, 2021 December 31, 2020 (In millions) Operating Leases: ROU assets $ 31.3 $ 30.9 Lease liabilities $ 34.2 $ 33.5 Weighted-average remaining lease term (in years) 4.6 4.7 Weighted-average discount rate 2.62 % 2.77 % Operating lease expense was $2.6 million and $2.9 million for the three June 30, 2021 June 30, 2020, six June 30, 2021 June 30, 2020, three June 30, 2021 2020, six June 30, 2021 2020, six June 30, 2021 The following table presents a maturity analysis of the Company’s operating lease liabilities as of June 30, 2021, December 31, 2020, As of June 30, 2021 Operating Leases (In thousands) Remaining 2021 $ 4,815 2022 9,406 2023 7,970 2024 5,552 2025 3,307 Thereafter 5,352 Total lease payments 36,402 Less amount of payment representing interest (2,208 ) Total present value of lease payments $ 34,194 As of December 31, 2020 Operating Leases (In thousands) 2021 $ 9,384 2022 8,335 2023 6,890 2024 4,635 2025 2,520 Thereafter 4,153 Total lease payments 35,917 Less amount of payment representing interest (2,433 ) Total present value of lease payments $ 33,484 |
Note 11 - Borrowed Funds
Note 11 - Borrowed Funds | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. Borrowings from the Federal Home Loan Bank ( FHLB ) June 30, 2021, December 31, 2020. June 30, 2021, December 31, 2020. June 30, 2021, May 2023. Junior Subordinated Notes three 2003 two 2007 twenty may not, At June 30, 2021, December 31, 2020. |
Note 12 - Income Taxes
Note 12 - Income Taxes | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12. The effective tax rate for the first six 2021 first six 2020. first six 2021 The Company’s tax returns are open for audit by the Internal Revenue Service back to 2017 2016. It is reasonably possible that unrecognized tax benefits could change significantly over the next twelve not |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 13. The Company uses fair value to measure certain assets and liabilities on a recurring basis, primarily securities available-for-sale and derivatives. For assets measured at the lower of cost or fair value, the fair value measurement criteria may may not The Company used valuation methodologies to measure assets at fair value under ASC Topic 820 825, 2016 01 2018 03, not one three ● Level 1 ● Level 2 not not ● Level 3 The classification of assets and liabilities within the hierarchy is based on whether inputs to the valuation methodology used are observable or unobservable, and the significance of those inputs in the fair value measurement. The Company’s assets and liabilities are classified in their entirety based on the lowest level of input that is significant to their fair value measurements. Financial assets and liabilities measured at fair value on a recurring basis The Company uses the following methodologies to measure the fair value of its financial assets and liabilities on a recurring basis: Securities Available-for-Sale and Equity Securities 1 2 Warrants 3 Interest Rate Swaps third 2 Currency Option Contracts and Foreign Exchange Contracts 2 The following tables present financial assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2021 December 31, 2020: June 30, 2021 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 40,467 $ — $ — $ 40,467 U.S. government agency entities — 93,312 — 93,312 Mortgage-backed securities — 749,476 — 749,476 Collateralized mortgage obligations — 9,736 — 9,736 Corporate debt securities — 109,524 — 109,524 Total securities available-for-sale 40,467 962,048 — 1,002,515 Equity securities Mutual funds 6,318 — — 6,318 Preferred stock of government sponsored entities 1,313 — — 1,313 Other equity securities 12,482 — — 12,482 Total equity securities 20,113 — — 20,113 Warrants — — 22 22 Interest rate swaps — 4,904 — 4,904 Foreign exchange contracts — 3,667 — 3,667 Total assets $ 60,580 $ 970,619 $ 22 $ 1,031,221 Liabilities Interest rate swaps $ — $ 9,593 $ — $ 9,593 Foreign exchange contracts — 3,831 — 3,831 Total liabilities $ — $ 13,424 $ — $ 13,424 December 31, 2020 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 80,948 $ — $ — $ 80,948 U.S. government agency entities — 99,839 — 99,839 Mortgage-backed securities — 727,068 — 727,068 Collateralized mortgage obligations — 10,324 — 10,324 Corporate debt securities — 118,371 — 118,371 Total securities available-for-sale 80,948 955,602 — 1,036,550 Equity securities Mutual funds 6,413 — — 6,413 Preferred stock of government sponsored entities 5,485 — — 5,485 Other equity securities 11,846 — — 11,846 Total equity securities 23,744 — — 23,744 Warrants — — 21 21 Interest rate swaps — 3,409 — 3,409 Foreign exchange contracts — 4,658 — 4,658 Total assets $ 104,692 $ 963,669 $ 21 $ 1,068,382 Liabilities Interest rate swaps $ — $ 10,286 $ — $ 10,286 Foreign exchange contracts — 2,200 — 2,200 Total liabilities $ — $ 12,486 $ — $ 12,486 Financial assets and liabilities measured at estimated fair value on a non-recurring basis: Certain assets or liabilities are required to be measured at estimated fair value on a nonrecurring basis subsequent to initial recognition. Generally, these adjustments are the result of lower-of-cost-or-fair value or other impairment write-downs of individual assets. In determining the estimated fair values during the period, the Company determined that substantially all the changes in estimated fair value were due to declines in market conditions versus instrument specific credit risk. For the periods ended June 30, 2021, December 31, 2020, no For financial assets measured at fair value on a nonrecurring basis that were still reflected in the Consolidated Balance Sheets as of June 30, 2021, June 30, 2021, December 31, 2020, As of June 30, 2021 Total Losses Fair Value Measurements Using Total Fair Value For the Three Months Ended For the Six Months Ended Level 1 Level 2 Level 3 Measurements June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 (In thousands) Assets Loans held-for-investment: Commercial loans $ — $ — $ 2,059 $ 2,059 $ — $ — $ — $ — Commercial mortgage loans — — 11,742 11,742 — — — — Residential mortgage loans and equity lines — — 3,511 3,511 — — — — Total loans held-for-investment — — 17,312 17,312 — — — — Other real estate owned (1) — — 5,091 5,091 47 381 47 717 Investments in venture capital and private company stock — — 1,015 1,015 64 71 135 104 Total assets $ — $ — $ 23,418 $ 23,418 $ 111 $ 452 $ 182 $ 821 ( 1 Other real estate owned balance of $4.9 million in the Consolidated Balance Sheets is net of estimated disposal costs. As of December 31, 2020 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 5,342 $ 5,342 Commercial mortgage loans — — 25,749 25,749 Residential mortgage loans and equity lines — — 4,307 4,307 Total impaired loans — — 35,398 35,398 Other real estate owned (1) — — 5,141 5,141 Investments in venture capital and private company stock — — 1,381 1,381 Total assets $ — $ — $ 41,920 $ 41,920 ( 1 Other real estate owned balance of $4.9 million in the Consolidated Balance Sheets is net of estimated disposal costs. The significant unobservable (Level 3 twelve The fair value of individually evaluated loans is calculated based on the net realizable fair value of the collateral or the observable market price of the most recent sale or quoted price from loans held for sale. The Company does not 2 3 The significant unobservable inputs (Level 3 The significant unobservable inputs in the Black-Scholes option pricing model for the fair value of warrants are their expected life ranging from one six Fair value is estimated in accordance with ASC Topic 825. not one no The following table sets forth the carrying and notional amounts and estimated fair value of financial instruments as of June 30, 2021, December 31, 2020: June 30, 2021 December 31, 2020 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 133,507 $ 133,507 $ 138,616 $ 138,616 Short-term investments 1,589,086 1,589,086 1,282,462 1,282,462 Securities available-for-sale 1,002,515 1,002,515 1,036,550 1,036,550 Loans, net 15,690,689 16,095,071 15,475,364 16,103,471 Equity securities 20,113 20,113 23,744 23,744 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants 22 22 21 21 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 200,863 $ 3,667 $ 151,244 $ 4,658 Interest rate swaps 563,399 4,904 96,889 3,409 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 16,537,513 $ 16,545,365 $ 16,109,401 $ 16,125,808 Advances from Federal Home Loan Bank 20,000 20,986 150,000 155,133 Other borrowings 23,249 19,074 23,714 19,632 Long-term debt 119,136 64,892 119,136 65,487 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 155,052 $ 3,831 $ 132,813 $ 2,200 Interest rate swaps 703,984 9,593 679,648 10,286 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,048,412 $ (10,632 ) $ 2,977,528 $ (8,432 ) Standby letters of credit 222,196 (2,106 ) 234,200 (1,630 ) Other letters of credit 27,361 (52 ) 16,821 (16 ) Bill of lading guarantees — — 238 — The following tables set forth the level in the fair value hierarchy for the estimated fair values of financial instruments as of June 30, 2021, December 31, 2020. As of June 30, 2021 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 133,507 $ 133,507 $ — $ — Short-term investments 1,589,086 1,589,086 — — Securities available-for-sale 1,002,515 40,467 962,048 — Loans, net 16,095,071 — — 16,095,071 Equity securities 20,113 20,113 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 22 — — 22 Financial Liabilities Deposits 16,545,365 — — 16,545,365 Advances from Federal Home Loan Bank 20,986 — 20,986 — Other borrowings 19,074 — — 19,074 Long-term debt 64,892 — 64,892 — As of December 31, 2020 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 138,616 $ 138,616 $ — $ — Short-term investments 1,282,462 1,282,462 — — Securities available-for-sale 1,036,550 80,948 955,602 — Loans, net 16,103,471 — — 16,103,471 Equity securities 23,744 23,744 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 21 — — 21 Financial Liabilities Deposits 16,125,808 — — 16,125,808 Advances from Federal Home Loan Bank 155,133 — 155,133 — Other borrowings 19,632 — — 19,632 Long-term debt 65,487 — 65,487 — |
Note 14 - Goodwill and Goodwill
Note 14 - Goodwill and Goodwill Impairment | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 14. Total goodwill was $372.2 million as of both June 31, 2021 December 31, 2020. not December 31, 2020, |
Note 15 - Financial Derivatives
Note 15 - Financial Derivatives | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 15. It is our policy not may may may The Company follows ASC Topic 815 not third not The Company offers various interest rate derivative contracts to its customers. When derivative transactions are executed with its customers, the derivative contracts are offset by paired trades with third not not third In May 2014, ten five ten June 2014 June 2024, three June 30, 2021, 2020, not June 30, 2021, December 31, 2020, June 30, 2021 December 31, 2020 (In thousands) Cash flow swap hedges: Notional $ 119,136 $ 119,136 Weighted average fixed rate-pay 2.61 % 2.61 % Weighted average variable rate-receive 0.16 % 0.44 % Unrealized loss, net of taxes (1) $ (5,188 ) $ (6,890 ) Three months ended Six months ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Periodic net settlement of swaps (2) $ 731 $ 514 $ 1,442 $ 769 ( 1 ( 2 As of June 30, 2021, three ten June 30, 2021, 2020, not June 30, 2021, December 31, 2020, June 30, 2021 December 31, 2020 (In thousands) Fair value swap hedges: Notional $ 795,935 $ 478,266 Weighted average fixed rate-pay 2.55 % 4.56 % Weighted average variable rate spread 1.26 % 2.46 % Weighted average variable rate-receive 1.37 % 3.11 % Net unrealized loss (1) $ (9,182 ) $ (15,082 ) Three months ended Six months ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Periodic net settlement of swaps (2) $ (2,387 ) $ (2,154 ) $ (4,774 ) $ (2,797 ) ( 1 ( 2 The Company has designated as a partial-term hedging election $404.9 million notional as last-of-layer hedge on pools of loans with a notational value of $816.7 million as of June 30, 2021. not 1 June 30, 2021, Interest rate swap contracts involve the risk of dealing with institutional derivative counterparties and their ability to meet contractual terms. Institutional counterparties must have a strong credit profile and be approved by the Company’s Board of Directors. The Company’s credit exposure on interest rate swaps is limited to the net favorable value and interest payments of all swaps by each counterparty. Credit exposure may June 30, 2021 December 31, 2020. The Company from time to time enters into foreign exchange forward contracts with various counterparties to mitigate the risk of fluctuations in foreign currency exchange rates for foreign exchange certificates of deposit or foreign exchange contracts entered into with our clients. These contracts are not not June 30, 2021, December 31, 2020, June 30, 2021 December 31, 2020 (In thousands) Derivative financial instruments not designated as hedging instruments: Notional amounts: Spot, forward, and swap contracts with positive fair value $ 200,863 $ 151,244 Spot, forward, and swap contracts with negative fair value $ 155,052 $ 132,813 Fair value: Spot, forward, and swap contracts with positive fair value $ 3,667 $ 4,658 Spot, forward, and swap contracts with negative fair value $ (3,831 ) $ (2,200 ) |
Note 16 - Balance Sheet Offsett
Note 16 - Balance Sheet Offsetting | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 16. Certain financial instruments, including resell and repurchase agreements, securities lending arrangements and derivatives, may may not Financial instruments that are eligible for offset in the Consolidated Balance Sheets, as of June 30, 2021, December 31, 2020, Gross Amounts Not Offset in the Balance Sheet Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Collateral Posted Net Amount (In thousands) June 30, 2021 Assets: Derivatives $ 4,903 $ — $ 4,903 $ — $ — $ 4,903 Liabilities: Derivatives $ 21,445 $ (11,846 ) $ 9,599 $ — $ — $ 9,599 December 31, 2020 Assets: Derivatives $ 3,409 $ — $ 3,409 $ — $ — $ 3,409 Liabilities: Derivatives $ 28,258 $ (17,972 ) $ 10,286 $ — $ — $ 10,286 |
Note 17 - Revenue from Contract
Note 17 - Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 17. The following is a summary of revenue from contracts with customers that are in-scope and not 606: Three months Ended June 30, Six months Ended June 30, 2021 2020 2021 2020 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts $ 2,144 $ 1,873 $ 4,256 $ 3,928 Wealth management fees 3,939 2,209 7,496 5,346 Other service fees (1) 3,883 2,990 7,374 6,362 Total noninterest income 9,966 7,072 19,126 15,636 Noninterest income, not in-scope (2) 2,617 8,534 3,457 5,756 Total noninterest income $ 12,583 $ 15,606 $ 22,583 $ 21,392 ( 1 Other service fees is comprised of fees related to letters of credit, wire fees, fees on foreign exchange transactions and other immaterial individual revenue streams. ( 2 These amounts primarily represent revenue from contracts with customers that are out of the scope of ASC 606. The major revenue streams by fee type that are within the scope of ASC 606 Fees and Services Charges on Deposit Accounts Fees and service charges on deposit accounts include charges for analysis, overdraft, cash checking, ATM, and safe deposit activities executed by our deposit clients, as well as interchange income earned through card payment networks for the acceptance of card-based transactions. Fees earned from our deposit clients are governed by contracts that provide for overall custody and access to deposited funds and other related services and can be terminated at will by either party. Fees received from deposit clients for the various deposit activities are recognized as revenue by the Company once the performance obligations are met. Wealth Management Fees The Company employs financial consultants to provide investment planning services for customers including wealth management services, asset allocation strategies, portfolio analysis and monitoring, investment strategies, and risk management strategies. The fees the Company earns are variable and are generally received monthly by the Company. The Company recognizes revenue for the services performed at quarter end based on actual transaction details received from the broker dealer the Company engages. Practical Expedients and Exemptions The Company applies the practical expedient in ASC 606 10 50 14 not one one In addition, given the short-term nature of the contracts, the Company also applies the practical expedient in ASC 606 10 32 18 not one |
Note 18 - Stockholders' Equity
Note 18 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 18. Equity Total equity was $2.45 billion as of June 30, 2021, December 31, 2020, Activity in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the three six June 30, 2021, June 30, 2020, Three months ended June 30, 2021 Three months ended June 30, 2020 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, gain/(loss), net of tax Securities available-for-sale $ 7,313 $ 17,567 Cash flow hedge derivatives (5,627 ) (7,690 ) Total $ 1,686 $ 9,877 Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 352 $ 104 $ 247 $ (683 ) $ (202 ) $ (481 ) Cash flow hedge derivatives 623 184 439 (334 ) (99 ) (235 ) Total $ 975 $ 288 $ 686 $ (1,017 ) $ (301 ) $ (716 ) Reclassification adjustment for net losses in net income Securities available-for-sale — — — (1,147 ) (339 ) (808 ) Cash flow hedge derivatives — — — — — — Total — — — (1,147 ) (339 ) (808 ) Total other comprehensive income/(loss) Securities available-for-sale $ 352 $ 104 $ 247 $ (1,830 ) $ (541 ) $ (1,289 ) Cash flow hedge derivatives 623 184 439 (334 ) (99 ) (235 ) Total $ 975 $ 288 $ 686 $ (2,164 ) $ (640 ) $ (1,524 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ 7,560 $ 16,278 Cash flow hedge derivatives (5,188 ) (7,925 ) Total $ 2,372 $ 8,353 Six months ended June 30, 2021 Six months ended June 30, 2020 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, gain/(loss), net of tax Securities available-for-sale $ 12,200 $ 5,714 Cash flow hedge derivatives (6,890 ) (3,412 ) Total $ 5,310 $ 2,302 Net unrealized gains/(losses) arising during the period Securities available-for-sale $ (5,733 ) $ (1,695 ) $ (4,039 ) $ 16,150 $ 4,774 $ 11,376 Cash flow hedge derivatives 2,416 714 1,702 (6,407 ) (1,894 ) (4,513 ) Total $ (3,317 ) $ (981 ) $ (2,337 ) $ 9,743 $ 2,880 $ 6,863 Reclassification adjustment for net losses in net income Securities available-for-sale (853 ) (252 ) (601 ) (1,153 ) (341 ) (812 ) Cash flow hedge derivatives — — — — — — Total (853 ) (252 ) (601 ) (1,153 ) (341 ) (812 ) Total other comprehensive income/(loss) Securities available-for-sale $ (6,586 ) $ (1,947 ) $ (4,640 ) $ 14,997 $ 4,433 $ 10,564 Cash flow hedge derivatives 2,416 714 1,702 (6,407 ) (1,894 ) (4,513 ) Total $ (4,170 ) $ (1,233 ) $ (2,938 ) $ 8,590 $ 2,539 $ 6,051 Ending balance, gain/(loss), net of tax Securities available-for-sale $ 7,560 $ 16,278 Cash flow hedge derivatives (5,188 ) (7,925 ) Total $ 2,372 $ 8,353 |
Note 19 - Stock Repurchase Prog
Note 19 - Stock Repurchase Program | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | 19. On April 1, 2021, April 2021 six June 30, 2021. June 30, 2021, may April 2021 |
Note 20 - Subsequent Events
Note 20 - Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 20. On August 5, 2021, April 2021 July 29 August 5, 2021. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Marketable Securities, Policy [Policy Text Block] | Securities Available for Sale Prior to January 1, 2021, not not Effective January 1, 2021, 2016 13, 1 2 not Interest income includes amortization of premiums and discounts as an adjustment of yield on a level-yield basis. Premiums on callable debt securities are amortized to their earliest call date. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. A debt security is placed on nonaccrual status at the time any principal or interest payments become delinquent by 90 not No |
Allowance for Credit Losses on Available for Sale Debt Securities [Policy Text Block] | Allowance for Credit Losses on Available for Sale Securities For available-for-sale (“AFS”) debt securities in an unrealized loss position, the Company first not not not Changes in the allowance for credit losses are recorded as provision for credit loss expense. Losses are charged against the allowance when management believes the uncollectability of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. The amortized cost of the Company’s AFS debt securities excludes accrued interest, which is included in “accrued interest receivable” on the Consolidated Balance Sheets. The Company has made an accounting policy election not Trading securities are reported at fair value, with unrealized gains or losses included in income. |
Financing Receivable, Held-for-investment [Policy Text Block] | Loans Held for Investment Loans receivable that the Company has the intent and ability to hold for the foreseeable future or until maturity are stated at their outstanding principal, reduced by an allowance for loan losses and net of deferred loan fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Nonrefundable fees and direct costs associated with the origination or purchase of loans are deferred and netted against outstanding loan balances. The deferred net loan fees and costs are recognized in interest income as an adjustment to yield over the loan term using the effective interest method or straight-line method. Discounts or premiums on purchased loans are accreted or amortized to interest income using the effective interest method or straight-line method over the remaining period to contractual maturity. Interest on loans is calculated using the simple-interest method on daily balances of the principal amounts outstanding based on an actual or 360 Generally, loans are placed on nonaccrual status when they become 90 not not not |
Financing Receivable, Held-for-sale [Policy Text Block] | Loans Held for Sale Held for sale loans are carried at the lower of aggregate cost or fair value. Gains and losses are recorded in non-interest income based on the difference between sales proceeds, net of sales commissions, and carrying value. When a determination is made at the time of commitment to originate or purchase loans as held-for-investment, it is the Company’s intent to hold these loans to maturity or for the “foreseeable future,” subject to periodic review under the Company’s management evaluation processes, including asset/liability management. When the Company subsequently changes its intent to hold certain loans, the loans are transferred from the loans held-for-investment portfolio at amortized cost to the loans held-for-sale portfolio at lower of aggregate cost or fair value and the existing ACL on the loans transferred is reversed. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Credit Losses on Loans Held for Investment. Effective January 1, 2021, 2016 13, The ACL on loans held for investment is the combination of the allowance for loan losses and the reserve for unfunded loan commitments. The allowance for loan losses is reported as a reduction of the amortized cost basis of loans, while the reserve for unfunded loan commitments is included within "other liabilities" on the Consolidated Balance Sheets (Unaudited). The amortized cost basis of loans does not Under the CECL approach, management estimates the ACL using relevant available information from internal and external sources, relating to past events, current conditions, and reasonable and supportable economic forecasts that vary by loan portfolio. We use economic forecasts from Moody’s Analytics in this process. The economic forecast is updated monthly; therefore, the one one not one Under the CECL methodology, quantitative and qualitative loss factors are applied to our population of loans on a collective pool basis when similar risk characteristics exist. When loans do not not may one 1 2 not Under the Company’s CECL methodology, nine three six six 2007 fourth 2020. fourth 2007 fourth 2020. The Company’s CECL methodology utilizes an eight four 1 10th 3 90th four six The Company’s CECL methodology estimates expected credit losses over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: (i) management has a reasonable expectation at the reporting date that a troubled debt restructuring will be executed with an individual borrower or (ii) the extension or renewal options are included in the original or modified contract at the reporting date and are not The simplified approach portfolios include Small Business Administration (“SBA”) loans, Home Equity Lines of Credit (“HELOCs”) and cash-secured loans, which are not three first eight four Under the Company’s CECL methodology, the qualitative portion of the reserve on pooled loans represents management’s judgment of additional considerations to account for internal and external risk factors that are not may not The CECL methodology requires a significant amount of management judgment in determining the appropriate allowance for credit losses. Several of the steps in the methodology involve judgment and are subjective in nature including, among other things: segmenting the loan portfolio; determining the amount of loss history to consider; selecting predictive econometric regression models that use appropriate macroeconomic variables; determining the methodology to forecast prepayments; selecting the most appropriate economic forecast scenario; determining the length of the R&S forecast and reversion periods; estimating expected utilization rates on unfunded loan commitments; and assessing relevant and appropriate qualitative factors. In addition, the CECL methodology is dependent on economic forecasts that are inherently imprecise and will change from period to period. Although the allowance for credit losses is considered by management to be appropriate, there can be no Management believes the allowance for credit losses is appropriate for the current expected credit losses in our loan portfolio and associated unfunded commitments, and the credit risk ratings and inherent loss rates currently assigned are reasonable and appropriate as of the reporting date. Individually Evaluated Loans Loans that do not no may one 90 Impaired Loans Prior to January 1, 2021, may 1 2 3 first |
Troubled Debt Restructuring [Policy Text Block] | Troubled Debt Restructured Loan ( TDR ) A TDR is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may six The allowance for credit loss on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit loss is determined by discounting the expected future cash flows at the original interest rate of the loan. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) as extended by the Consolidated Appropriation Act, 2021 19 not March 1, 2020 January 1, 2022 60 not 30 December 31, 2019. |
Loan Commitments, Policy [Policy Text Block] | Unfunded Loan Commitments Unfunded loan commitments are generally related to providing credit facilities to clients of the Bank and are not 9 The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company, using the same loss factors as used for the allowance for loan losses. The reserve for unfunded loan commitments uses the expected historical usage rate of the unfunded commitments during the contractual life of the commitments. The allowance for unfunded commitments is included in “other liabilities” on the Consolidated Balance Sheets. Changes in the allowance for unfunded commitments are included in the provision for loan losses. |
Note 3 - Recent Accounting Pr_2
Note 3 - Recent Accounting Pronouncements (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | Balance at December 31, 2020 Adjustments due to Adoption of ASC 326 * Balance at January 1, 2021 * (In thousands) Assets: Allowance for credit losses on loans $ 166,538 $ (1,560 ) $ 164,978 Deferred tax assets $ 85,610 $ 1,319 $ 86,929 Liabilities: Allowance for unfunded commitments $ 5,880 $ 6,018 $ 11,898 Stockholders' equity: Retained earnings, net of tax $ 2,418,144 $ (3,140 ) $ 2,415,004 |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands, except share and per share data) Net income $ 77,199 $ 54,321 $ 150,583 $ 101,173 Weighted-average shares: Basic weighted-average number of common shares outstanding 79,167,004 79,581,097 79,347,886 79,584,587 Dilutive effect of weighted-average outstanding common share equivalents RSUs 251,664 101,329 276,458 171,639 Diluted weighted-average number of common shares outstanding 79,418,668 79,682,426 79,624,344 79,756,226 Average restricted stock units with anti-dilutive effect 19,170 126,084 44,996 86,741 Earnings per common share: Basic $ 0.98 $ 0.68 $ 1.90 $ 1.27 Diluted $ 0.97 $ 0.68 $ 1.89 $ 1.27 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Time-Based RSUs Performance-Based RSUs Weighted-Average Weighted-Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at December 31, 2020 292,670 $ 33.37 302,802 $ 32.55 Granted 60,666 41.11 — — Vested (93,856 ) 41.87 (76,292 ) 42.56 Forfeited (23,324 ) 29.92 (7,768 ) 40.60 Balance at June 30, 2021 236,156 $ 32.52 218,742 $ 28.77 |
Note 7 - Investment Securities
Note 7 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | June 30, 2021 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 40,458 $ 9 $ — $ 40,467 U.S. government agency entities 92,120 1,329 137 93,312 Mortgage-backed securities 739,672 13,640 3,836 749,476 Collateralized mortgage obligations 10,010 — 274 9,736 Corporate debt securities 109,464 659 599 109,524 Total $ 991,724 $ 15,637 $ 4,846 $ 1,002,515 December 31, 2020 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 80,948 $ 6 $ 6 $ 80,948 U.S. government agency entities 99,944 441 546 99,839 Mortgage-backed securities 709,709 17,965 606 727,068 Collateralized mortgage obligations 10,358 — 34 10,324 Corporate debt securities 118,271 367 267 118,371 Total $ 1,019,230 $ 18,779 $ 1,459 $ 1,036,550 |
Investments Classified by Contractual Maturity Date [Table Text Block] | June 30, 2021 Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 65,472 $ 65,511 Due after one year through five years 71,862 71,254 Due after five years through ten years 161,771 166,473 Due after ten years 692,619 699,277 Total $ 991,724 $ 1,002,515 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2021 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. government agency entities $ — $ — $ 2,475 $ 137 $ 2,475 $ 137 Mortgage-backed securities 298,310 3,159 7,583 677 305,893 3,836 Collateralized mortgage obligations 9,574 264 162 10 9,736 274 Corporate debt securities 50,611 352 9,753 247 60,364 599 Total $ 358,495 $ 3,775 $ 19,973 $ 1,071 $ 378,468 $ 4,846 December 31, 2020 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. treasury securities $ 40,952 $ 6 $ — $ — $ 40,952 $ 6 U.S. government agency entities 26,390 102 40,009 444 66,399 546 Mortgage-backed securities 1,694 23 8,093 583 9,787 606 Collateralized mortgage obligations 10,131 25 193 9 10,324 34 Corporate debt securities 58,405 267 — — 58,405 267 Total $ 137,572 $ 423 $ 48,295 $ 1,036 $ 185,867 $ 1,459 |
Note 8 - Loans (Tables)
Note 8 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, 2021 December 31, 2020 (In thousands) Commercial loans $ 2,867,437 $ 2,836,833 Residential mortgage loans 4,103,736 4,145,389 Commercial mortgage loans 7,615,088 7,555,027 Real estate construction loans 664,495 679,492 Equity lines 436,801 424,555 Installment and other loans 3,132 3,100 Gross loans $ 15,690,689 $ 15,644,396 Allowance for loan losses (131,256 ) (166,538 ) Unamortized deferred loan fees, net (6,865 ) (2,494 ) Total loans, net $ 15,552,568 $ 15,475,364 |
Impaired Financing Receivables [Table Text Block] | Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 24,450 $ 31 $ 26,348 $ 43 Real estate construction loans 4,149 73 4,189 170 Commercial mortgage loans 36,792 100 38,445 157 Residential mortgage loans and equity lines 8,653 8 8,541 16 Total non-accrual loans $ 74,044 $ 212 $ 77,523 $ 386 Three Months Ended Six Months Ended June 30, 2020 June 30, 2020 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 33,695 $ 71 $ 30,913 $ 95 Real estate construction loans 4,458 49 4,482 147 Commercial mortgage loans 36,225 375 36,225 824 Residential mortgage loans and equity lines 17,724 78 14,547 149 Total impaired loans $ 92,102 $ 573 $ 86,167 $ 1,215 |
Schedule Of Impaired Loans And Related Allowance And Charge Off [Table Text Block] | June 30, 2021 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 26,552 $ 14,253 $ — Real estate construction loans 5,776 4,116 — Commercial mortgage loans 20,774 20,003 — Residential mortgage loans and equity lines 7,096 6,921 — Subtotal $ 60,198 $ 45,293 $ — With allocated allowance Commercial loans $ 2,309 $ 2,080 $ 22 Commercial mortgage loans 16,976 16,881 5,139 Residential mortgage loans and equity lines 3,996 3,528 — Subtotal $ 23,281 $ 22,489 $ 5,161 Total non-accrual loans $ 83,479 $ 67,782 $ 5,161 December 31, 2020 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 23,784 $ 20,698 $ — Real estate construction loans 5,776 4,286 — Commercial mortgage loans 22,877 22,287 — Residential mortgage loans and equity lines 6,379 6,307 — Subtotal $ 58,816 $ 53,578 $ — With allocated allowance Commercial loans $ 13,703 $ 6,372 $ 1,030 Commercial mortgage loans 31,134 31,003 5,254 Residential mortgage loans and equity lines 5,005 4,452 145 Subtotal $ 49,842 $ 41,827 $ 6,429 Total impaired loans $ 108,658 $ 95,405 $ 6,429 |
Financing Receivable, Past Due [Table Text Block] | June 30, 2021 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Commercial loans $ 17,010 $ 599 $ 1,249 $ 16,333 $ 35,191 $ 2,832,246 $ 2,867,437 Real estate construction loans — — — 4,116 4,116 660,379 664,495 Commercial mortgage loans 228 — — 36,884 37,112 7,577,976 7,615,088 Residential mortgage loans and equity lines 588 2,300 264 10,449 13,601 4,526,936 4,540,537 Installment and other loans 1,000 — — — 1,000 2,132 3,132 Total loans $ 18,826 $ 2,899 $ 1,513 $ 67,782 $ 91,020 $ 15,599,669 $ 15,690,689 December 31, 2020 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Commercial loans $ 52,601 $ 3,182 $ 2,947 $ 23,087 $ 81,817 $ 2,755,016 $ 2,836,833 Real estate construction loans 6,257 — — 4,286 10,543 668,949 679,492 Commercial mortgage loans 45,186 18,069 2,035 33,715 99,005 7,456,022 7,555,027 Residential mortgage loans and equity lines 14,315 4,223 — 6,596 25,134 4,544,810 4,569,944 Installment and other loans 43 — — — 43 3,057 3,100 Total loans $ 118,402 $ 25,474 $ 4,982 $ 67,684 $ 216,542 $ 15,427,854 $ 15,644,396 |
Schedule Of Troubled Debt Restructurings [Table Text Block] | Three Months Ended June 30, 2021 June 30, 2021 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans — $ — $ — $ — $ — Total — $ — $ — $ — $ — Three Months Ended June 30, 2020 June 30, 2020 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 1 $ 1,900 $ 1,900 $ — $ 86 Total 1 $ 1,900 $ 1,900 $ — $ 86 Six Months Ended June 30, 2021 June 30, 2021 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 1 $ 686 $ 686 $ — $ — Total 1 $ 686 $ 686 $ — $ — Six Months Ended June 30, 2020 June 30, 2020 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 3 $ 2,434 $ 2,434 $ — $ 86 Total 3 $ 2,434 $ 2,434 $ — $ 86 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | June 30, 2021 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 4,373 $ — $ — $ 4,373 Commercial mortgage loans 444 5,580 13,221 19,245 Residential mortgage loans 1,497 254 1,892 3,643 Total accruing TDRs $ 6,314 $ 5,834 $ 15,113 $ 27,261 December 31, 2020 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 3,983 $ — $ — $ 3,983 Commercial mortgage loans 515 5,635 13,425 19,575 Residential mortgage loans 1,724 275 2,164 4,163 Total accruing TDRs $ 6,222 $ 5,910 $ 15,589 $ 27,721 |
Non Accrual Troubled Debt Restructurings [Table Text Block] | June 30, 2021 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 7,903 $ — $ — $ 7,903 Residential mortgage loans 499 — — 499 Total non-accrual TDRs $ 8,402 $ — $ — $ 8,402 December 31, 2020 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 8,462 $ — $ — $ 8,462 Residential mortgage loans 523 — — 523 Total non-accrual TDRs $ 8,985 $ — $ — $ 8,985 |
Activity Within The Troubled Debt Resturings [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) Accruing TDRs Beginning balance $ 27,864 $ 34,364 $ 27,721 $ 35,336 New restructurings — 1,900 686 2,434 Payments (603 ) (4,593 ) (1,146 ) (6,099 ) Ending balance $ 27,261 $ 31,671 $ 27,261 $ 31,671 Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (In thousands) Non-accrual TDRs Beginning balance $ 8,661 $ 17,889 $ 8,985 $ 18,048 Charge-offs — (4,970 ) — (4,970 ) Payments (259 ) (249 ) (583 ) (408 ) Ending balance $ 8,402 $ 12,670 $ 8,402 $ 12,670 |
Financing Receivable Credit Quality Indicators [Table Text Block] | December 31, 2020 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,581,128 $ 141,344 $ 108,788 $ 5,573 $ 2,836,833 Real estate construction loans 593,196 82,010 4,286 — 679,492 Commercial mortgage loans 7,202,568 186,283 166,176 — 7,555,027 Residential mortgage loans and equity lines 4,547,052 11,647 11,245 — 4,569,944 Installment and other loans 3,100 — — — 3,100 Total gross loans $ 14,927,044 $ 421,284 $ 290,495 $ 5,573 $ 15,644,396 |
Loan Held for Investment by Loan Portfolio Segments, Internal Risk Ratings and Vintage Year [Table Text Block] | Loans Amortized Cost Basis by Origination Year June 30, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 399,319 $ 391,221 $ 275,646 $ 218,678 $ 98,676 $ 72,443 $ 1,219,335 $ 7,527 $ 2,682,845 Special Mention — 100 12,675 7,953 2,892 1,023 28,928 227 53,798 Substandard 31 5,409 23,927 17,287 9,084 4,594 56,434 6,606 123,372 Doubtful — — — — — — 2,247 — 2,247 Loss — — — — — — — — — Total $ 399,350 $ 396,730 $ 312,248 $ 243,918 $ 110,652 $ 78,060 $ 1,306,944 $ 14,360 $ 2,862,262 YTD period charge-offs $ — $ 73 $ 50 $ 366 $ — $ 50 $ 16,311 $ — $ 16,850 YTD period recoveries — — — (26 ) — (163 ) (1,236 ) — (1,425 ) Net $ — $ 73 $ 50 $ 340 $ — $ (113 ) $ 15,075 $ — $ 15,425 Real estate construction loans Pass/Watch $ 131,786 $ 213,818 $ 157,612 $ 64,904 $ 29,489 $ — $ — $ — $ 597,609 Special Mention 4,643 25,075 13,759 16,422 — — — — 59,899 Substandard — — — — — 4,116 — — 4,116 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 136,429 $ 238,893 $ 171,371 $ 81,326 $ 29,489 $ 4,116 $ — $ — $ 661,624 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial mortgage loans Pass/Watch $ 758,939 $ 1,303,822 $ 1,333,604 $ 1,170,110 $ 857,806 $ 1,580,820 $ 169,817 $ — $ 7,174,918 Special Mention 18,212 48,108 37,578 78,294 46,799 84,134 2,899 — 316,024 Substandard — 1,698 6,789 46,616 1,804 64,785 875 — 122,567 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 777,151 $ 1,353,628 $ 1,377,971 $ 1,295,020 $ 906,409 $ 1,729,739 $ 173,591 $ — $ 7,613,509 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — (120 ) — — (14 ) (56 ) — (190 ) Net $ — $ — $ (120 ) $ — $ — $ (14 ) $ (56 ) $ — $ (190 ) Residential mortgage loans Pass/Watch $ 445,397 $ 708,691 $ 771,944 $ 582,883 $ 507,289 $ 1,067,965 $ — $ — $ 4,084,169 Special Mention — 240 4,389 2,009 848 1,897 — — 9,383 Substandard — 161 3,058 2,533 707 5,301 — — 11,760 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 445,397 $ 709,092 $ 779,391 $ 587,425 $ 508,844 $ 1,075,163 $ — $ — $ 4,105,312 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — (208 ) — — (208 ) Net $ — $ — $ — $ — $ — $ (208 ) $ — $ — $ (208 ) Equity lines Pass/Watch $ — $ — $ — $ — $ — $ 9 $ 403,327 $ 32,797 $ 436,133 Special Mention — — — — — — — — — Substandard — — — — — — 1,250 602 1,852 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ — $ — $ — $ — $ 9 $ 404,577 $ 33,399 $ 437,985 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — (5 ) (10 ) (15 ) Net $ — $ — $ — $ — $ — $ — $ (5 ) $ (10 ) $ (15 ) Installment and other loans Pass/Watch $ 1,056 $ 2,076 $ — $ — $ — $ — $ — $ — $ 3,132 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 1,056 $ 2,076 $ — $ — $ — $ — $ — $ — $ 3,132 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Total loans $ 1,759,383 $ 2,700,419 $ 2,640,981 $ 2,207,689 $ 1,555,394 $ 2,887,087 $ 1,885,112 $ 47,759 $ 15,683,824 Net charge-offs/(recoveries) $ — $ 73 $ (70 ) $ 340 $ — $ (335 ) $ 15,014 $ (10 ) $ 15,012 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) March 31, 2021 Ending Balance * $ 42,034 $ 6,992 $ 65,347 $ 30,734 $ 3 $ 145,110 Provision/(reversal) for possible credit losses 5,590 (873 ) (7,416 ) (3,899 ) (2 ) (6,600 ) Charge-offs (7,712 ) — — — — (7,712 ) Recoveries 155 — 95 208 — 458 Net (charge-offs)/recoveries (7,557 ) — 95 208 — (7,254 ) June 30, 2021 Ending Balance $ 40,067 $ 6,119 $ 58,026 $ 27,043 $ 1 $ 131,256 Allowance for unfunded credit commitments March 31, 2021 * $ 8,163 $ 2,251 $ 36 $ — $ — $ 10,450 Provision/(reversal) for possible credit losses (3,775 ) 1,330 45 — — (2,400 ) Allowance for unfunded credit commitments June 30, 2021 $ 4,388 $ 3,581 $ 81 $ — $ — $ 8,050 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) March 31, 2020 Ending Balance $ 67,799 $ 23,222 $ 39,886 $ 17,366 $ — $ 148,273 Provision/(reversal) for possible credit losses 18,213 3,478 1,151 2,158 — 25,000 Charge-offs (5,106 ) — — — — (5,106 ) Recoveries 1,350 — 95 68 — 1,513 Net (charge-offs)/recoveries (3,756 ) — 95 68 — (3,593 ) June 30, 2020 Ending Balance $ 82,256 $ 26,700 $ 41,132 $ 19,592 $ — $ 169,680 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2021 Beginning Balance $ 68,742 $ 30,854 $ 49,205 $ 17,737 $ — $ 166,538 Impact of ASU 2016-13 adoption * (31,466 ) (24,307 ) 34,993 19,211 9 (1,560 ) Allowance for loan losses, January 1, 2021 * 37,276 6,547 84,198 36,948 9 164,978 Provision/(reversal) for possible credit losses 18,216 (428 ) (26,362 ) (10,128 ) (8 ) (18,710 ) Charge-offs (16,850 ) — — — — (16,850 ) Recoveries 1,425 — 190 223 — 1,838 Net (charge-offs)/recoveries (15,425 ) — 190 223 — (15,012 ) June 30, 2021 Ending Balance $ 40,067 $ 6,119 $ 58,026 $ 27,043 $ 1 $ 131,256 Allowance for unfunded credit commitments December 31, 2020 $ 4,802 $ 690 $ 101 $ 284 $ 3 $ 5,880 Impact of ASU 2016-13 adoption * 3,236 3,135 (66 ) (284 ) (3 ) 6,018 Allowance for loan losses, January 1, 2021 * 8,038 3,825 35 — — 11,898 Provision/(reversal) for possible credit losses (3,650 ) (244 ) 46 — — (3,848 ) Allowance for unfunded credit commitments June 30, 2021 $ 4,388 $ 3,581 $ 81 $ — $ — $ 8,050 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2020 Beginning Balance $ 57,021 $ 19,474 $ 33,602 $ 13,108 $ 19 $ 123,224 Provision/(reversal) for possible credit losses 29,104 7,226 7,280 6,409 (19 ) 50,000 Charge-offs (6,427 ) — — — — (6,427 ) Recoveries 2,558 — 250 75 — 2,883 Net (charge-offs)/recoveries (3,869 ) — 250 75 — (3,544 ) June 30, 2020 Ending Balance $ 82,256 $ 26,700 $ 41,132 $ 19,592 $ — $ 169,680 Reserve for impaired loans $ 6,895 $ — $ 323 $ 307 $ — $ 7,525 Reserve for non-impaired loans $ 75,361 $ 26,700 $ 40,809 $ 19,285 $ — $ 162,155 Reserve for off-balance sheet credit commitments $ 3,581 $ 666 $ 117 $ 297 $ 2 $ 4,663 |
Impairment Method [Member] | |
Notes Tables | |
Impaired Financing Receivables [Table Text Block] | December 31, 2020 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 1,030 $ — $ 5,254 $ 145 $ — $ 6,429 Balance $ 27,070 $ 4,286 $ 53,289 $ 10,760 $ — $ 95,405 Loans collectively evaluated for impairment Allowance $ 67,712 $ 30,854 $ 43,951 $ 17,592 $ — $ 160,109 Balance $ 2,809,763 $ 675,206 $ 7,501,738 $ 4,559,184 $ 3,100 $ 15,548,991 Total allowance $ 68,742 $ 30,854 $ 49,205 $ 17,737 $ — $ 166,538 Total balance $ 2,836,833 $ 679,492 $ 7,555,027 $ 4,569,944 $ 3,100 $ 15,644,396 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Operating Lease, Assets and Liabilities, Weighted Average Remaining Terms and Discount Rate [Table Text Block] | June 30, 2021 December 31, 2020 (In millions) Operating Leases: ROU assets $ 31.3 $ 30.9 Lease liabilities $ 34.2 $ 33.5 Weighted-average remaining lease term (in years) 4.6 4.7 Weighted-average discount rate 2.62 % 2.77 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | As of June 30, 2021 Operating Leases (In thousands) Remaining 2021 $ 4,815 2022 9,406 2023 7,970 2024 5,552 2025 3,307 Thereafter 5,352 Total lease payments 36,402 Less amount of payment representing interest (2,208 ) Total present value of lease payments $ 34,194 As of December 31, 2020 Operating Leases (In thousands) 2021 $ 9,384 2022 8,335 2023 6,890 2024 4,635 2025 2,520 Thereafter 4,153 Total lease payments 35,917 Less amount of payment representing interest (2,433 ) Total present value of lease payments $ 33,484 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | June 30, 2021 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 40,467 $ — $ — $ 40,467 U.S. government agency entities — 93,312 — 93,312 Mortgage-backed securities — 749,476 — 749,476 Collateralized mortgage obligations — 9,736 — 9,736 Corporate debt securities — 109,524 — 109,524 Total securities available-for-sale 40,467 962,048 — 1,002,515 Equity securities Mutual funds 6,318 — — 6,318 Preferred stock of government sponsored entities 1,313 — — 1,313 Other equity securities 12,482 — — 12,482 Total equity securities 20,113 — — 20,113 Warrants — — 22 22 Interest rate swaps — 4,904 — 4,904 Foreign exchange contracts — 3,667 — 3,667 Total assets $ 60,580 $ 970,619 $ 22 $ 1,031,221 Liabilities Interest rate swaps $ — $ 9,593 $ — $ 9,593 Foreign exchange contracts — 3,831 — 3,831 Total liabilities $ — $ 13,424 $ — $ 13,424 December 31, 2020 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 80,948 $ — $ — $ 80,948 U.S. government agency entities — 99,839 — 99,839 Mortgage-backed securities — 727,068 — 727,068 Collateralized mortgage obligations — 10,324 — 10,324 Corporate debt securities — 118,371 — 118,371 Total securities available-for-sale 80,948 955,602 — 1,036,550 Equity securities Mutual funds 6,413 — — 6,413 Preferred stock of government sponsored entities 5,485 — — 5,485 Other equity securities 11,846 — — 11,846 Total equity securities 23,744 — — 23,744 Warrants — — 21 21 Interest rate swaps — 3,409 — 3,409 Foreign exchange contracts — 4,658 — 4,658 Total assets $ 104,692 $ 963,669 $ 21 $ 1,068,382 Liabilities Interest rate swaps $ — $ 10,286 $ — $ 10,286 Foreign exchange contracts — 2,200 — 2,200 Total liabilities $ — $ 12,486 $ — $ 12,486 |
Fair Value Measurements, Nonrecurring [Table Text Block] | As of June 30, 2021 Total Losses Fair Value Measurements Using Total Fair Value For the Three Months Ended For the Six Months Ended Level 1 Level 2 Level 3 Measurements June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 (In thousands) Assets Loans held-for-investment: Commercial loans $ — $ — $ 2,059 $ 2,059 $ — $ — $ — $ — Commercial mortgage loans — — 11,742 11,742 — — — — Residential mortgage loans and equity lines — — 3,511 3,511 — — — — Total loans held-for-investment — — 17,312 17,312 — — — — Other real estate owned (1) — — 5,091 5,091 47 381 47 717 Investments in venture capital and private company stock — — 1,015 1,015 64 71 135 104 Total assets $ — $ — $ 23,418 $ 23,418 $ 111 $ 452 $ 182 $ 821 As of December 31, 2020 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 5,342 $ 5,342 Commercial mortgage loans — — 25,749 25,749 Residential mortgage loans and equity lines — — 4,307 4,307 Total impaired loans — — 35,398 35,398 Other real estate owned (1) — — 5,141 5,141 Investments in venture capital and private company stock — — 1,381 1,381 Total assets $ — $ — $ 41,920 $ 41,920 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2021 December 31, 2020 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 133,507 $ 133,507 $ 138,616 $ 138,616 Short-term investments 1,589,086 1,589,086 1,282,462 1,282,462 Securities available-for-sale 1,002,515 1,002,515 1,036,550 1,036,550 Loans, net 15,690,689 16,095,071 15,475,364 16,103,471 Equity securities 20,113 20,113 23,744 23,744 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants 22 22 21 21 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 200,863 $ 3,667 $ 151,244 $ 4,658 Interest rate swaps 563,399 4,904 96,889 3,409 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 16,537,513 $ 16,545,365 $ 16,109,401 $ 16,125,808 Advances from Federal Home Loan Bank 20,000 20,986 150,000 155,133 Other borrowings 23,249 19,074 23,714 19,632 Long-term debt 119,136 64,892 119,136 65,487 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 155,052 $ 3,831 $ 132,813 $ 2,200 Interest rate swaps 703,984 9,593 679,648 10,286 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,048,412 $ (10,632 ) $ 2,977,528 $ (8,432 ) Standby letters of credit 222,196 (2,106 ) 234,200 (1,630 ) Other letters of credit 27,361 (52 ) 16,821 (16 ) Bill of lading guarantees — — 238 — |
Schedule Of Fair Value Of Financial Instruments [Table Text Block] | As of June 30, 2021 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 133,507 $ 133,507 $ — $ — Short-term investments 1,589,086 1,589,086 — — Securities available-for-sale 1,002,515 40,467 962,048 — Loans, net 16,095,071 — — 16,095,071 Equity securities 20,113 20,113 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 22 — — 22 Financial Liabilities Deposits 16,545,365 — — 16,545,365 Advances from Federal Home Loan Bank 20,986 — 20,986 — Other borrowings 19,074 — — 19,074 Long-term debt 64,892 — 64,892 — As of December 31, 2020 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 138,616 $ 138,616 $ — $ — Short-term investments 1,282,462 1,282,462 — — Securities available-for-sale 1,036,550 80,948 955,602 — Loans, net 16,103,471 — — 16,103,471 Equity securities 23,744 23,744 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 21 — — 21 Financial Liabilities Deposits 16,125,808 — — 16,125,808 Advances from Federal Home Loan Bank 155,133 — 155,133 — Other borrowings 19,632 — — 19,632 Long-term debt 65,487 — 65,487 — |
Note 15 - Financial Derivativ_2
Note 15 - Financial Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | June 30, 2021 December 31, 2020 (In thousands) Cash flow swap hedges: Notional $ 119,136 $ 119,136 Weighted average fixed rate-pay 2.61 % 2.61 % Weighted average variable rate-receive 0.16 % 0.44 % Unrealized loss, net of taxes (1) $ (5,188 ) $ (6,890 ) Three months ended Six months ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Periodic net settlement of swaps (2) $ 731 $ 514 $ 1,442 $ 769 |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | June 30, 2021 December 31, 2020 (In thousands) Fair value swap hedges: Notional $ 795,935 $ 478,266 Weighted average fixed rate-pay 2.55 % 4.56 % Weighted average variable rate spread 1.26 % 2.46 % Weighted average variable rate-receive 1.37 % 3.11 % Net unrealized loss (1) $ (9,182 ) $ (15,082 ) Three months ended Six months ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Periodic net settlement of swaps (2) $ (2,387 ) $ (2,154 ) $ (4,774 ) $ (2,797 ) |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | June 30, 2021 December 31, 2020 (In thousands) Derivative financial instruments not designated as hedging instruments: Notional amounts: Spot, forward, and swap contracts with positive fair value $ 200,863 $ 151,244 Spot, forward, and swap contracts with negative fair value $ 155,052 $ 132,813 Fair value: Spot, forward, and swap contracts with positive fair value $ 3,667 $ 4,658 Spot, forward, and swap contracts with negative fair value $ (3,831 ) $ (2,200 ) |
Note 16 - Balance Sheet Offse_2
Note 16 - Balance Sheet Offsetting (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Gross Amounts Not Offset in the Balance Sheet Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Collateral Posted Net Amount (In thousands) June 30, 2021 Assets: Derivatives $ 4,903 $ — $ 4,903 $ — $ — $ 4,903 Liabilities: Derivatives $ 21,445 $ (11,846 ) $ 9,599 $ — $ — $ 9,599 December 31, 2020 Assets: Derivatives $ 3,409 $ — $ 3,409 $ — $ — $ 3,409 Liabilities: Derivatives $ 28,258 $ (17,972 ) $ 10,286 $ — $ — $ 10,286 |
Note 17 - Revenue from Contra_2
Note 17 - Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months Ended June 30, Six months Ended June 30, 2021 2020 2021 2020 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts $ 2,144 $ 1,873 $ 4,256 $ 3,928 Wealth management fees 3,939 2,209 7,496 5,346 Other service fees (1) 3,883 2,990 7,374 6,362 Total noninterest income 9,966 7,072 19,126 15,636 Noninterest income, not in-scope (2) 2,617 8,534 3,457 5,756 Total noninterest income $ 12,583 $ 15,606 $ 22,583 $ 21,392 |
Note 18 - Stockholders' Equity
Note 18 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended June 30, 2021 Three months ended June 30, 2020 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, gain/(loss), net of tax Securities available-for-sale $ 7,313 $ 17,567 Cash flow hedge derivatives (5,627 ) (7,690 ) Total $ 1,686 $ 9,877 Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 352 $ 104 $ 247 $ (683 ) $ (202 ) $ (481 ) Cash flow hedge derivatives 623 184 439 (334 ) (99 ) (235 ) Total $ 975 $ 288 $ 686 $ (1,017 ) $ (301 ) $ (716 ) Reclassification adjustment for net losses in net income Securities available-for-sale — — — (1,147 ) (339 ) (808 ) Cash flow hedge derivatives — — — — — — Total — — — (1,147 ) (339 ) (808 ) Total other comprehensive income/(loss) Securities available-for-sale $ 352 $ 104 $ 247 $ (1,830 ) $ (541 ) $ (1,289 ) Cash flow hedge derivatives 623 184 439 (334 ) (99 ) (235 ) Total $ 975 $ 288 $ 686 $ (2,164 ) $ (640 ) $ (1,524 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ 7,560 $ 16,278 Cash flow hedge derivatives (5,188 ) (7,925 ) Total $ 2,372 $ 8,353 Six months ended June 30, 2021 Six months ended June 30, 2020 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, gain/(loss), net of tax Securities available-for-sale $ 12,200 $ 5,714 Cash flow hedge derivatives (6,890 ) (3,412 ) Total $ 5,310 $ 2,302 Net unrealized gains/(losses) arising during the period Securities available-for-sale $ (5,733 ) $ (1,695 ) $ (4,039 ) $ 16,150 $ 4,774 $ 11,376 Cash flow hedge derivatives 2,416 714 1,702 (6,407 ) (1,894 ) (4,513 ) Total $ (3,317 ) $ (981 ) $ (2,337 ) $ 9,743 $ 2,880 $ 6,863 Reclassification adjustment for net losses in net income Securities available-for-sale (853 ) (252 ) (601 ) (1,153 ) (341 ) (812 ) Cash flow hedge derivatives — — — — — — Total (853 ) (252 ) (601 ) (1,153 ) (341 ) (812 ) Total other comprehensive income/(loss) Securities available-for-sale $ (6,586 ) $ (1,947 ) $ (4,640 ) $ 14,997 $ 4,433 $ 10,564 Cash flow hedge derivatives 2,416 714 1,702 (6,407 ) (1,894 ) (4,513 ) Total $ (4,170 ) $ (1,233 ) $ (2,938 ) $ 8,590 $ 2,539 $ 6,051 Ending balance, gain/(loss), net of tax Securities available-for-sale $ 7,560 $ 16,278 Cash flow hedge derivatives (5,188 ) (7,925 ) Total $ 2,372 $ 8,353 |
Note 1 - Business (Details Text
Note 1 - Business (Details Textual) | Jun. 30, 2021 |
Number Of Limited Partnerships In Housing Investments | 10 |
Percentage of Subsidiaries Common Securities Owned by Parent Company | 100.00% |
Southern California1 [Member] | |
Number Of Branch Locations | 24 |
Northern California 1 [Member] | |
Number Of Branch Locations | 13 |
NEW YORK | |
Number Of Branch Locations | 10 |
WASHINGTON | |
Number Of Branch Locations | 4 |
ILLINOIS | |
Number Of Branch Locations | 2 |
TEXAS | |
Number Of Branch Locations | 2 |
NEW JERSEY | |
Number Of Branch Locations | 1 |
HONG KONG | |
Number Of Branch Locations | 1 |
NEVADA | |
Number Of Branch Locations | 1 |
MASSACHUSETTS | |
Number Of Branch Locations | 1 |
MARYLAND | |
Number Of Branch Locations | 1 |
Note 3 - Recent Accounting Pr_3
Note 3 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2021 | Jan. 01, 2021 | Dec. 31, 2020 |
Retained Earnings (Accumulated Deficit), Ending Balance | $ 1,887,571 | $ 1,789,325 | |
Loans and Leases Receivable, Allowance, Ending Balance | 131,256 | 166,538 | |
Off-Balance Sheet, Credit Loss, Liability, Ending Balance | 5,880 | ||
Deferred Tax Assets, Net of Valuation Allowance, Total | $ 85,610 | ||
Revision of Prior Period, Error Correction, Adjustment [Member] | Correction of Balance Sheet Amounts [Member] | |||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (2,300) | $ (2,300) | |
Loans and Leases Receivable, Allowance, Ending Balance | (2,200) | ||
Off-Balance Sheet, Credit Loss, Liability, Ending Balance | 5,500 | ||
Deferred Tax Assets, Net of Valuation Allowance, Total | 1,000 | ||
Accounting Standards Update 2016-13 [Member] | |||
Retained Earnings (Accumulated Deficit), Ending Balance | 3,100 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 1,600 | ||
Off-Balance Sheet, Credit Loss, Liability, Ending Balance | $ 6,000 |
Note 3 - Recent Accounting Pr_4
Note 3 - Recent Accounting Pronouncements - Cumulative Effect of Changes (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Mar. 31, 2021 | [1] | Jan. 01, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Allowance for credit losses on loans | $ 131,256 | $ 166,538 | |||||||
Deferred tax assets | 85,610 | ||||||||
Allowance for unfunded commitments | 5,880 | ||||||||
Stockholders' equity | $ 2,452,357 | $ 2,460,948 | $ 2,418,144 | $ 2,342,448 | $ 2,313,037 | $ 2,294,283 | |||
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||||
Allowance for credit losses on loans | [2] | $ (1,560) | |||||||
Deferred tax assets | [2] | 1,319 | |||||||
Allowance for unfunded commitments | [2] | 6,018 | |||||||
Stockholders' equity | [2] | (3,140) | |||||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||||||||
Allowance for credit losses on loans | [2] | 164,978 | |||||||
Deferred tax assets | [2] | 86,929 | |||||||
Allowance for unfunded commitments | [2] | 11,898 | |||||||
Stockholders' equity | [2] | $ 2,415,004 | |||||||
[1] | Balance sheet amounts previously reported for the impact of the initial adoption of CECL on January 1, 2021 have been corrected. The correction had an after-tax decrease to the cumulative effect of the change in accounting principle related to ASC326 of $2.3 million. | ||||||||
[2] | Balance sheet amounts previously reported for the impact of the initial adoption of CECL have been corrected. The correction decreased the allowance for loan losses by $2.2 million, increased the deferred tax asset by $1.0 million, increased the allowance for unfunded credit commitments by $5.5 million and had an after-tax decrease to opening retained earnings of $2.3 million. |
Note 4 - Cash, Cash Equivalen_2
Note 4 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Average Reserve Balances Required to be Maintained with Federal Bank | $ 0 | $ 60 |
Margin Deposit Assets | 34,000 | 34,700 |
Restricted Cash, Total | 2,800 | 9,300 |
Bank [Member] | ||
Margin Deposit Assets | $ 9,100 | $ 11,900 |
Note 5 - Earnings Per Share - E
Note 5 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Net income | $ 77,199 | $ 54,321 | $ 150,583 | $ 101,173 |
Basic weighted-average number of common shares outstanding (in shares) | 79,167,004 | 79,581,097 | 79,347,886 | 79,584,587 |
Diluted weighted-average number of common shares outstanding (in shares) | 79,418,668 | 79,682,426 | 79,624,344 | 79,756,226 |
Average restricted stock units with anti-dilutive effect (in shares) | 19,170 | 126,084 | 44,996 | 86,741 |
Basic (in dollars per share) | $ 0.98 | $ 0.68 | $ 1.90 | $ 1.27 |
Diluted (in dollars per share) | $ 0.97 | $ 0.68 | $ 1.89 | $ 1.27 |
Restricted Stock Units (RSUs) [Member] | ||||
Dilutive effect of weighted-average outstanding common share equivalents RSUs (in shares) | 251,664 | 101,329 | 276,458 | 171,639 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Proceeds from Stock Options Exercised | $ 0 | |||
Benefit (Shortfall) of Tax Deductions from Share-based Compensation | $ 17,000 | $ 400 | ||
2005 Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 2,055,147 | 2,055,147 | ||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||
Share-based Payment Arrangement, Expense | $ 1,200 | $ 1,000 | $ 2,500 | 2,500 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 7,800 | $ 6,100 | $ 7,800 | $ 6,100 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 6 months | |||
Performance-based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||
Performance-based Restricted Stock Units [Member] | Minimum [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Performance-based Restricted Stock Units, Number of Shares That May Vest, Percentage of Target | 0.00% | 0.00% | ||
Performance-based Restricted Stock Units [Member] | Maximum [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Performance-based Restricted Stock Units, Number of Shares That May Vest, Percentage of Target | 150.00% | 150.00% |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation - Restricted Stock Units (Details) | 6 Months Ended |
Jun. 30, 2021$ / sharesshares | |
Time-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 292,670 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 33.37 |
Granted (in shares) | shares | 60,666 |
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 41.11 |
Vested (in shares) | shares | (93,856) |
Vested, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 41.87 |
Forfeited (in shares) | shares | (23,324) |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 29.92 |
Balance (in shares) | shares | 236,156 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 32.52 |
Performance-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 302,802 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 32.55 |
Granted (in shares) | shares | 0 |
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Vested (in shares) | shares | (76,292) |
Vested, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 42.56 |
Forfeited (in shares) | shares | (7,768) |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 40.60 |
Balance (in shares) | shares | 218,742 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 28.77 |
Note 7 - Investment Securitie_2
Note 7 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Interest Receivable | $ 56,092 | $ 56,092 | $ 59,032 | ||
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | (900) | $ 5,800 | (3,631) | $ (323) | |
Equity Securities, FV-NI, Current | 20,113 | 20,113 | 23,744 | ||
Debt Securities, Available-for-sale, Restricted | 20,600 | 20,600 | $ 22,700 | ||
Debt Securities, Available-for-sale [Member] | |||||
Interest Receivable | $ 2,000 | $ 2,000 |
Note 7 - Investment Securitie_3
Note 7 - Investment Securities - Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Investment securities available for sale, amortized cost | $ 991,724 | $ 1,019,230 |
Investment securities available for sale, gross unrealized gains | 15,637 | 18,779 |
Investment securities available for sale, gross unrealized losses | 4,846 | 1,459 |
Investment securities available for sale, Estimated fair value | 1,002,515 | 1,036,550 |
US Treasury Securities [Member] | ||
Investment securities available for sale, amortized cost | 40,458 | 80,948 |
Investment securities available for sale, gross unrealized gains | 9 | 6 |
Investment securities available for sale, gross unrealized losses | 0 | 6 |
Investment securities available for sale, Estimated fair value | 40,467 | 80,948 |
US Government Corporations and Agencies Securities [Member] | ||
Investment securities available for sale, amortized cost | 92,120 | 99,944 |
Investment securities available for sale, gross unrealized gains | 1,329 | 441 |
Investment securities available for sale, gross unrealized losses | 137 | 546 |
Investment securities available for sale, Estimated fair value | 93,312 | 99,839 |
Collateralized Mortgage Backed Securities [Member] | ||
Investment securities available for sale, amortized cost | 739,672 | 709,709 |
Investment securities available for sale, gross unrealized gains | 13,640 | 17,965 |
Investment securities available for sale, gross unrealized losses | 3,836 | 606 |
Investment securities available for sale, Estimated fair value | 749,476 | 727,068 |
Collateralized Mortgage Obligations [Member] | ||
Investment securities available for sale, amortized cost | 10,010 | 10,358 |
Investment securities available for sale, gross unrealized gains | 0 | 0 |
Investment securities available for sale, gross unrealized losses | 274 | 34 |
Investment securities available for sale, Estimated fair value | 9,736 | 10,324 |
Corporate Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 109,464 | 118,271 |
Investment securities available for sale, gross unrealized gains | 659 | 367 |
Investment securities available for sale, gross unrealized losses | 599 | 267 |
Investment securities available for sale, Estimated fair value | $ 109,524 | $ 118,371 |
Note 7 - Investment Securitie_4
Note 7 - Investment Securities - Investments by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Due in one year or less, Amortized Cost | $ 65,472 | |
Due in one year or less, Fair Value | 65,511 | |
Due after one year through five years, Amortized Cost | 71,862 | |
Due after one year through five years, Fair Value | 71,254 | |
Due after five years through ten years, Amortized Cost | 161,771 | |
Due after five years through ten years, Fair Value | 166,473 | |
Due after ten years, Amortized Cost | 692,619 | |
Due after ten years, Fair Value | 699,277 | |
Total, Amortized Cost | 991,724 | $ 1,019,230 |
Total, Fair Value | $ 1,002,515 | $ 1,036,550 |
Note 7 - Investment Securitie_5
Note 7 - Investment Securities - Temporarily Impaired Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Temporarily impaired securities, less than 12 months, fair value | $ 358,495 | $ 137,572 |
Temporarily impaired securities, less than 12 months, unrealized losses | 3,775 | 423 |
Temporarily impaired securities, 12 months or longer, fair value | 19,973 | 48,295 |
Temporarily impaired securities, 12 months or longer, fair value | 1,071 | 1,036 |
Temporarily impaired securities, total fair value | 378,468 | 185,867 |
Temporarily impaired securities, total unrealized losses | 4,846 | 1,459 |
US Government Corporations and Agencies Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 0 | 26,390 |
Temporarily impaired securities, less than 12 months, unrealized losses | 0 | 102 |
Temporarily impaired securities, 12 months or longer, fair value | 2,475 | 40,009 |
Temporarily impaired securities, 12 months or longer, fair value | 137 | 444 |
Temporarily impaired securities, total fair value | 2,475 | 66,399 |
Temporarily impaired securities, total unrealized losses | 137 | 546 |
US Treasury Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 40,952 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 6 | |
Temporarily impaired securities, 12 months or longer, fair value | 0 | |
Temporarily impaired securities, 12 months or longer, fair value | 0 | |
Temporarily impaired securities, total fair value | 40,952 | |
Temporarily impaired securities, total unrealized losses | 6 | |
Collateralized Mortgage Backed Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 298,310 | 1,694 |
Temporarily impaired securities, less than 12 months, unrealized losses | 3,159 | 23 |
Temporarily impaired securities, 12 months or longer, fair value | 7,583 | 8,093 |
Temporarily impaired securities, 12 months or longer, fair value | 677 | 583 |
Temporarily impaired securities, total fair value | 305,893 | 9,787 |
Temporarily impaired securities, total unrealized losses | 3,836 | 606 |
Collateralized Mortgage Obligations [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 9,574 | 10,131 |
Temporarily impaired securities, less than 12 months, unrealized losses | 264 | 25 |
Temporarily impaired securities, 12 months or longer, fair value | 162 | 193 |
Temporarily impaired securities, 12 months or longer, fair value | 10 | 9 |
Temporarily impaired securities, total fair value | 9,736 | 10,324 |
Temporarily impaired securities, total unrealized losses | 274 | 34 |
Corporate Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 50,611 | 58,405 |
Temporarily impaired securities, less than 12 months, unrealized losses | 352 | 267 |
Temporarily impaired securities, 12 months or longer, fair value | 9,753 | 0 |
Temporarily impaired securities, 12 months or longer, fair value | 247 | 0 |
Temporarily impaired securities, total fair value | 60,364 | 58,405 |
Temporarily impaired securities, total unrealized losses | $ 599 | $ 267 |
Note 8 - Loans (Details Textual
Note 8 - Loans (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2021 | Jan. 01, 2021 | Dec. 31, 2020 | |
Impaired Financing Receivable, Recorded Investment, Total | $ 67,782 | $ 95,405 | |
Percentage Of Charge Off To Contractual Balances For Impaired Loans | 12.50% | 7.10% | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 0 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 131,256 | $ 166,538 | |
Off-Balance Sheet, Credit Loss, Liability, Ending Balance | 5,880 | ||
Loans and Leases Receivable, Gross, Total | 15,690,689 | 15,644,396 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable, Allowance, Ending Balance | 49,205 | ||
Loans and Leases Receivable, Gross, Total | $ 7,615,088 | 7,555,027 | |
Financing Receivable, Number of Contracts with Modifications | 9 | ||
Loans and Leases Receivable with Modifications, Gross | $ 92,200 | ||
Financing Receivable with Modifications, Percentage of Total Commercial Real Estate Loans | 1.20% | ||
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Allowance, Ending Balance | 68,742 | ||
Loans and Leases Receivable, Gross, Total | $ 2,867,437 | 2,836,833 | |
Financing Receivable, Number of Contracts with Modifications | 5 | ||
Loans and Leases Receivable with Modifications, Gross | $ 38,300 | ||
Financing Receivable with Modifications, Percentage of Total Commercial Real Estate Loans | 1.30% | ||
Residential Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | $ 4,103,736 | 4,145,389 | |
Financing Receivable with Modifications, Percentage of Total Commercial Real Estate Loans | 0.30% | ||
Loans and Leases Receivable with Approved Forbearance Requests, Gross | $ 13,100 | ||
SBA's Paycheck Protection Program [Member] | |||
Loans and Leases Receivable, Allowance, Ending Balance | $ 0 | ||
Financing Receivable, Number of Contracts | 3,125 | ||
Loans and Leases Receivable, Gross, Total | $ 238,900 | ||
Loans and Leases Receivable, Forgiven | $ 191,200 | ||
Correction of Balance Sheet Amounts [Member] | Revision of Prior Period, Error Correction, Adjustment [Member] | |||
Loans and Leases Receivable, Allowance, Ending Balance | $ (2,200) | ||
Off-Balance Sheet, Credit Loss, Liability, Ending Balance | $ 5,500 | ||
Minimum [Member] | |||
Period Loan Is In Payment Default (Day) | 60 days | ||
Maximum [Member] | |||
Period Loan Is In Payment Default (Day) | 90 days | ||
Nonaccrual Loans [Member] | |||
Impaired Financing Receivable, Recorded Investment, Total | 67,700 | ||
Accruing Troubled Debt Restructuring [Member] | |||
Impaired Financing Receivable, Recorded Investment, Total | 27,700 | ||
Financing Receivable, Troubled Debt Restructuring | $ 27,300 | 27,700 | |
Troubled Debt Restructuring, Specific Reserves | 197 | 122 | |
Non-accruing Troubled Debt Restructuring [Member] | |||
Financing Receivable, Troubled Debt Restructuring | 8,400 | 9,000 | |
Troubled Debt Restructuring, Specific Reserves | $ 4 | $ 24 |
Note 8 - Loans - Components of
Note 8 - Loans - Components of Loans in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Loans | $ 15,690,689 | $ 15,644,396 |
Less: Allowance for loan losses | (131,256) | (166,538) |
Unamortized deferred loan fees, net | (6,865) | (2,494) |
Loans, net | 15,552,568 | 15,475,364 |
Commercial Portfolio Segment [Member] | ||
Loans | 2,867,437 | 2,836,833 |
Less: Allowance for loan losses | (68,742) | |
Residential Portfolio Segment [Member] | ||
Loans | 4,103,736 | 4,145,389 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 7,615,088 | 7,555,027 |
Less: Allowance for loan losses | (49,205) | |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 664,495 | 679,492 |
Less: Allowance for loan losses | (30,854) | |
Equity Lines Portfolio Segment [Member] | ||
Loans | 436,801 | 424,555 |
Installment and Other Loans [Member ] | ||
Loans | $ 3,132 | $ 3,100 |
Note 8 - Loans - Average Balanc
Note 8 - Loans - Average Balance and Interest Income Recognized Related to Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Average Recorded Investment | $ 74,044 | $ 92,102 | $ 77,523 | $ 86,167 |
Interest Income Recognized | 212 | 573 | 386 | 1,215 |
Commercial Portfolio Segment [Member] | ||||
Average Recorded Investment | 24,450 | 33,695 | 26,348 | 30,913 |
Interest Income Recognized | 31 | 71 | 43 | 95 |
Real Estate Construction Portfolio Segment [Member] | ||||
Average Recorded Investment | 4,149 | 4,458 | 4,189 | 4,482 |
Interest Income Recognized | 73 | 49 | 170 | 147 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Average Recorded Investment | 36,792 | 36,225 | 38,445 | 36,225 |
Interest Income Recognized | 100 | 375 | 157 | 824 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
Average Recorded Investment | 8,653 | 17,724 | 8,541 | 14,547 |
Interest Income Recognized | $ 8 | $ 78 | $ 16 | $ 149 |
Note 8 - Loans - Impaired Loans
Note 8 - Loans - Impaired Loans and Related Allowance for Credit Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Loans with no related allowance, unpaid principal balance | $ 60,198 | $ 58,816 |
Loans with no related allowance, recorded investment | 45,293 | 53,578 |
Loans with related allowance, unpaid principal balance | 23,281 | 49,842 |
Loans with related allowance, recorded investment | 22,489 | 41,827 |
Allowance | 5,161 | 6,429 |
Unpaid principal balance | 83,479 | 108,658 |
Recorded investment | 67,782 | 95,405 |
Commercial Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 26,552 | 23,784 |
Loans with no related allowance, recorded investment | 14,253 | 20,698 |
Loans with related allowance, unpaid principal balance | 2,309 | 13,703 |
Loans with related allowance, recorded investment | 2,080 | 6,372 |
Allowance | 22 | 1,030 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 5,776 | 5,776 |
Loans with no related allowance, recorded investment | 4,116 | 4,286 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 20,774 | 22,877 |
Loans with no related allowance, recorded investment | 20,003 | 22,287 |
Loans with related allowance, unpaid principal balance | 16,976 | 31,134 |
Loans with related allowance, recorded investment | 16,881 | 31,003 |
Allowance | 5,139 | 5,254 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 7,096 | 6,379 |
Loans with no related allowance, recorded investment | 6,921 | 6,307 |
Loans with related allowance, unpaid principal balance | 3,996 | 5,005 |
Loans with related allowance, recorded investment | 3,528 | 4,452 |
Allowance | $ 0 | $ 145 |
Note 8 - Loans - Aging of Loan
Note 8 - Loans - Aging of Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Loans | $ 15,690,689 | $ 15,644,396 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 18,826 | 118,402 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 2,899 | 25,474 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 1,513 | 4,982 |
Financial Asset, Past Due [Member] | ||
Loans | 91,020 | 216,542 |
Non-accrual loans | 67,782 | 67,684 |
Financial Asset, Not Past Due [Member] | ||
Loans | 15,599,669 | 15,427,854 |
Commercial Portfolio Segment [Member] | ||
Loans | 2,867,437 | 2,836,833 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 17,010 | 52,601 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 599 | 3,182 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 1,249 | 2,947 |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 35,191 | 81,817 |
Non-accrual loans | 16,333 | 23,087 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 2,832,246 | 2,755,016 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 664,495 | 679,492 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 6,257 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 4,116 | 10,543 |
Non-accrual loans | 4,116 | 4,286 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 660,379 | 668,949 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 7,615,088 | 7,555,027 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 228 | 45,186 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 18,069 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 2,035 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 37,112 | 99,005 |
Non-accrual loans | 36,884 | 33,715 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 7,577,976 | 7,456,022 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 4,540,537 | 4,569,944 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 588 | 14,315 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 2,300 | 4,223 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 264 | 0 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 13,601 | 25,134 |
Non-accrual loans | 10,449 | 6,596 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 4,526,936 | 4,544,810 |
Installment and Other Loans [Member ] | ||
Loans | 3,132 | 3,100 |
Installment and Other Loans [Member ] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 1,000 | 43 |
Installment and Other Loans [Member ] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Installment and Other Loans [Member ] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Installment and Other Loans [Member ] | Financial Asset, Past Due [Member] | ||
Loans | 1,000 | 43 |
Non-accrual loans | 0 | 0 |
Installment and Other Loans [Member ] | Financial Asset, Not Past Due [Member] | ||
Loans | $ 2,132 | $ 3,057 |
Note 8 - Loans - Troubled Debt
Note 8 - Loans - Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | |
No. of Contracts | 0 | 1 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 1,900 | $ 686 | $ 2,434 |
Post-Modification Outstanding Recorded Investment | 0 | 1,900 | 686 | 2,434 |
Charge-offs | 0 | 0 | 0 | 0 |
Commercial loans | $ 0 | $ 86 | $ 0 | $ 86 |
Commercial Portfolio Segment [Member] | ||||
No. of Contracts | 0 | 1 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 1,900 | $ 686 | $ 2,434 |
Post-Modification Outstanding Recorded Investment | 0 | 1,900 | 686 | 2,434 |
Charge-offs | 0 | 0 | 0 | 0 |
Commercial loans | $ 0 | $ 86 | $ 0 | $ 86 |
Note 8 - Loans - Accruing Troub
Note 8 - Loans - Accruing Troubled Debt Restructurings (Details) - Accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Accruing TDRs | $ 27,261 | $ 27,864 | $ 27,721 | $ 31,671 | $ 34,364 | $ 35,336 |
Payment Deferral [Member] | ||||||
Accruing TDRs | 6,314 | 6,222 | ||||
Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 5,834 | 5,910 | ||||
Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 15,113 | 15,589 | ||||
Commercial Portfolio Segment [Member] | ||||||
Accruing TDRs | 4,373 | 3,983 | ||||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 4,373 | 3,983 | ||||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Accruing TDRs | 19,245 | 19,575 | ||||
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 444 | 515 | ||||
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 5,580 | 5,635 | ||||
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 13,221 | 13,425 | ||||
Residential Portfolio Segment [Member] | ||||||
Accruing TDRs | 3,643 | 4,163 | ||||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 1,497 | 1,724 | ||||
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 254 | 275 | ||||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | $ 1,892 | $ 2,164 |
Note 8 - Loans - Non-accrual Tr
Note 8 - Loans - Non-accrual Troubled Debt Restructurings (Details) - Non-accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Accruing TDRs | $ 8,402 | $ 8,661 | $ 8,985 | $ 12,670 | $ 17,889 | $ 18,048 |
Payment Deferral [Member] | ||||||
Accruing TDRs | 8,402 | 8,985 | ||||
Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | ||||||
Accruing TDRs | 7,903 | 8,462 | ||||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 7,903 | 8,462 | ||||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Residential Portfolio Segment [Member] | ||||||
Accruing TDRs | 499 | 523 | ||||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 499 | 523 | ||||
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | $ 0 | $ 0 |
Note 8 - Loans - Troubled Deb_2
Note 8 - Loans - Troubled Debt Restructuring Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 |
Accruing Troubled Debt Restructuring [Member] | ||||
Beginning balance | 27,864 | 34,364 | 27,721 | 35,336 |
New restructurings | 0 | 1,900 | 686 | 2,434 |
Payments | (603) | (4,593) | (1,146) | (6,099) |
Ending balance | 27,261 | 31,671 | 27,261 | 31,671 |
Non-accruing Troubled Debt Restructuring [Member] | ||||
Beginning balance | 8,661 | 17,889 | 8,985 | 18,048 |
Payments | (259) | (249) | (583) | (408) |
Charge-offs | 0 | (4,970) | 0 | (4,970) |
Ending balance | $ 8,402 | $ 12,670 | $ 8,402 | $ 12,670 |
Note 8 - Loans - Portfolio by R
Note 8 - Loans - Portfolio by Risk Rating (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Loans | $ 15,690,689 | $ 15,644,396 |
Commercial Portfolio Segment [Member] | ||
Loans | 2,867,437 | 2,836,833 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 664,495 | 679,492 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 7,615,088 | 7,555,027 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 4,540,537 | 4,569,944 |
Installment and Other Loans [Member ] | ||
Loans | $ 3,132 | 3,100 |
Pass [Member] | ||
Loans | 14,927,044 | |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 2,581,128 | |
Pass [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 593,196 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 7,202,568 | |
Pass [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 4,547,052 | |
Pass [Member] | Installment and Other Loans [Member ] | ||
Loans | 3,100 | |
Special Mention [Member] | ||
Loans | 421,284 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 141,344 | |
Special Mention [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 82,010 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 186,283 | |
Special Mention [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 11,647 | |
Special Mention [Member] | Installment and Other Loans [Member ] | ||
Loans | 0 | |
Substandard [Member] | ||
Loans | 290,495 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 108,788 | |
Substandard [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 4,286 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 166,176 | |
Substandard [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 11,245 | |
Substandard [Member] | Installment and Other Loans [Member ] | ||
Loans | 0 | |
Doubtful [Member] | ||
Loans | 5,573 | |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 5,573 | |
Doubtful [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 0 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 0 | |
Doubtful [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 0 | |
Doubtful [Member] | Installment and Other Loans [Member ] | ||
Loans | $ 0 |
Note 8 - Loans - Loan Held for
Note 8 - Loans - Loan Held for Investment by Loan Portfolio Segments, Internal Risk Ratings and Vintage Year (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Total, Loans Amortized Cost Basis by Origination Year 2021 | $ 1,759,383 | $ 1,759,383 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 2,700,419 | 2,700,419 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 2,640,981 | 2,640,981 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 2,207,689 | 2,207,689 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 1,555,394 | 1,555,394 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 2,887,087 | 2,887,087 | ||
Total, Revolving Loans | 1,885,112 | 1,885,112 | ||
Total, Revolving Converted to Term Loans | 47,759 | 47,759 | ||
Total loans | 15,683,824 | 15,683,824 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period charge-offs | 7,712 | $ 5,106 | 16,850 | $ 6,427 |
YTD period recoveries | (458) | (1,513) | (1,838) | (2,883) |
Net, Loans Amortized Cost Basis by Origination Year 2020 | 73 | |||
Net, Loans Amortized Cost Basis by Origination Year 2019 | (70) | |||
Net, Loans Amortized Cost Basis by Origination Year 2018 | 340 | |||
Net, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year Prior | (335) | |||
Net, Revolving Loans | 15,014 | |||
Net, Revolving Converted to Term Loans | (10) | |||
Net | 7,254 | 3,593 | 15,012 | 3,544 |
Commercial Portfolio Segment [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 399,350 | 399,350 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 396,730 | 396,730 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 312,248 | 312,248 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 243,918 | 243,918 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 110,652 | 110,652 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 78,060 | 78,060 | ||
Total, Revolving Loans | 1,306,944 | 1,306,944 | ||
Total, Revolving Converted to Term Loans | 14,360 | 14,360 | ||
Total loans | 2,862,262 | 2,862,262 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 73 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 50 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 366 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 50 | |||
YTD period charge-offs, Revolving Loans | 16,311 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | |||
YTD period charge-offs | 7,712 | 5,106 | 16,850 | 6,427 |
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | (26) | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | (163) | |||
YTD period recoveries, Revolving Loans | (1,236) | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | |||
YTD period recoveries | (155) | (1,350) | (1,425) | (2,558) |
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2020 | 73 | |||
Net, Loans Amortized Cost Basis by Origination Year 2019 | 50 | |||
Net, Loans Amortized Cost Basis by Origination Year 2018 | 340 | |||
Net, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year Prior | (113) | |||
Net, Revolving Loans | 15,075 | |||
Net, Revolving Converted to Term Loans | 0 | |||
Net | 7,557 | 3,756 | 15,425 | 3,869 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 399,319 | 399,319 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 391,221 | 391,221 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 275,646 | 275,646 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 218,678 | 218,678 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 98,676 | 98,676 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 72,443 | 72,443 | ||
Total, Revolving Loans | 1,219,335 | 1,219,335 | ||
Total, Revolving Converted to Term Loans | 7,527 | 7,527 | ||
Total loans | 2,682,845 | 2,682,845 | ||
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 100 | 100 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 12,675 | 12,675 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 7,953 | 7,953 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 2,892 | 2,892 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,023 | 1,023 | ||
Total, Revolving Loans | 28,928 | 28,928 | ||
Total, Revolving Converted to Term Loans | 227 | 227 | ||
Total loans | 53,798 | 53,798 | ||
Commercial Portfolio Segment [Member] | Substandard [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 31 | 31 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 5,409 | 5,409 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 23,927 | 23,927 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 17,287 | 17,287 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 9,084 | 9,084 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 4,594 | 4,594 | ||
Total, Revolving Loans | 56,434 | 56,434 | ||
Total, Revolving Converted to Term Loans | 6,606 | 6,606 | ||
Total loans | 123,372 | 123,372 | ||
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 2,247 | 2,247 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 2,247 | 2,247 | ||
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Real Estate Construction Portfolio Segment [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 136,429 | 136,429 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 238,893 | 238,893 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 171,371 | 171,371 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 81,326 | 81,326 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 29,489 | 29,489 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 4,116 | 4,116 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 661,624 | 661,624 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
YTD period charge-offs, Revolving Loans | 0 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | |||
YTD period charge-offs | 0 | 0 | 0 | 0 |
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
YTD period recoveries, Revolving Loans | 0 | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | |||
YTD period recoveries | 0 | 0 | 0 | 0 |
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
Net, Revolving Loans | 0 | |||
Net, Revolving Converted to Term Loans | 0 | |||
Net | 0 | 0 | 0 | 0 |
Real Estate Construction Portfolio Segment [Member] | Pass [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 131,786 | 131,786 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 213,818 | 213,818 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 157,612 | 157,612 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 64,904 | 64,904 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 29,489 | 29,489 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 597,609 | 597,609 | ||
Real Estate Construction Portfolio Segment [Member] | Special Mention [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 4,643 | 4,643 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 25,075 | 25,075 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 13,759 | 13,759 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 16,422 | 16,422 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 59,899 | 59,899 | ||
Real Estate Construction Portfolio Segment [Member] | Substandard [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 4,116 | 4,116 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 4,116 | 4,116 | ||
Real Estate Construction Portfolio Segment [Member] | Doubtful [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Real Estate Construction Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 777,151 | 777,151 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 1,353,628 | 1,353,628 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 1,377,971 | 1,377,971 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 1,295,020 | 1,295,020 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 906,409 | 906,409 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,729,739 | 1,729,739 | ||
Total, Revolving Loans | 173,591 | 173,591 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 7,613,509 | 7,613,509 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
YTD period charge-offs, Revolving Loans | 0 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | |||
YTD period charge-offs | 0 | 0 | 0 | 0 |
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | (120) | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | (14) | |||
YTD period recoveries, Revolving Loans | (56) | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | |||
YTD period recoveries | (95) | (95) | (190) | (250) |
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2019 | (120) | |||
Net, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year Prior | (14) | |||
Net, Revolving Loans | (56) | |||
Net, Revolving Converted to Term Loans | 0 | |||
Net | (95) | (95) | (190) | (250) |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 758,939 | 758,939 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 1,303,822 | 1,303,822 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 1,333,604 | 1,333,604 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 1,170,110 | 1,170,110 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 857,806 | 857,806 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,580,820 | 1,580,820 | ||
Total, Revolving Loans | 169,817 | 169,817 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 7,174,918 | 7,174,918 | ||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 18,212 | 18,212 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 48,108 | 48,108 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 37,578 | 37,578 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 78,294 | 78,294 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 46,799 | 46,799 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 84,134 | 84,134 | ||
Total, Revolving Loans | 2,899 | 2,899 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 316,024 | 316,024 | ||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 1,698 | 1,698 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 6,789 | 6,789 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 46,616 | 46,616 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 1,804 | 1,804 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 64,785 | 64,785 | ||
Total, Revolving Loans | 875 | 875 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 122,567 | 122,567 | ||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Residential Portfolio Segment [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 445,397 | 445,397 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 709,092 | 709,092 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 779,391 | 779,391 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 587,425 | 587,425 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 508,844 | 508,844 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,075,163 | 1,075,163 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 4,105,312 | 4,105,312 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
YTD period charge-offs, Revolving Loans | 0 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | |||
YTD period charge-offs | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | (208) | |||
YTD period recoveries, Revolving Loans | 0 | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | |||
YTD period recoveries | (208) | |||
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year Prior | (208) | |||
Net, Revolving Loans | 0 | |||
Net, Revolving Converted to Term Loans | 0 | |||
Net | (208) | |||
Residential Portfolio Segment [Member] | Pass [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 445,397 | 445,397 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 708,691 | 708,691 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 771,944 | 771,944 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 582,883 | 582,883 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 507,289 | 507,289 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,067,965 | 1,067,965 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 4,084,169 | 4,084,169 | ||
Residential Portfolio Segment [Member] | Special Mention [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 240 | 240 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 4,389 | 4,389 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 2,009 | 2,009 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 848 | 848 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,897 | 1,897 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 9,383 | 9,383 | ||
Residential Portfolio Segment [Member] | Substandard [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 161 | 161 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 3,058 | 3,058 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 2,533 | 2,533 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 707 | 707 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 5,301 | 5,301 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 11,760 | 11,760 | ||
Residential Portfolio Segment [Member] | Doubtful [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Residential Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Equity Lines Portfolio Segment [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 9 | 9 | ||
Total, Revolving Loans | 404,577 | 404,577 | ||
Total, Revolving Converted to Term Loans | 33,399 | 33,399 | ||
Total loans | 437,985 | 437,985 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
YTD period charge-offs, Revolving Loans | 0 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | |||
YTD period charge-offs | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
YTD period recoveries, Revolving Loans | (5) | |||
YTD period recoveries, Revolving Converted to Term Loans | (10) | |||
YTD period recoveries | (15) | |||
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
Net, Revolving Loans | (5) | |||
Net, Revolving Converted to Term Loans | (10) | |||
Net | (15) | |||
Equity Lines Portfolio Segment [Member] | Pass [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 9 | 9 | ||
Total, Revolving Loans | 403,327 | 403,327 | ||
Total, Revolving Converted to Term Loans | 32,797 | 32,797 | ||
Total loans | 436,133 | 436,133 | ||
Equity Lines Portfolio Segment [Member] | Special Mention [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Equity Lines Portfolio Segment [Member] | Substandard [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 1,250 | 1,250 | ||
Total, Revolving Converted to Term Loans | 602 | 602 | ||
Total loans | 1,852 | 1,852 | ||
Equity Lines Portfolio Segment [Member] | Doubtful [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Equity Lines Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Installment and Other Loans [Member ] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 1,056 | 1,056 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 2,076 | 2,076 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 3,132 | 3,132 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
YTD period charge-offs, Revolving Loans | 0 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | |||
YTD period charge-offs | 0 | 0 | 0 | 0 |
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
YTD period recoveries, Revolving Loans | 0 | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | |||
YTD period recoveries | 0 | 0 | 0 | 0 |
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2020 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2019 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2018 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year 2017 | 0 | |||
Net, Loans Amortized Cost Basis by Origination Year Prior | 0 | |||
Net, Revolving Loans | 0 | |||
Net, Revolving Converted to Term Loans | 0 | |||
Net | 0 | $ 0 | 0 | $ 0 |
Installment and Other Loans [Member ] | Pass [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 1,056 | 1,056 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 2,076 | 2,076 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 3,132 | 3,132 | ||
Installment and Other Loans [Member ] | Special Mention [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Installment and Other Loans [Member ] | Substandard [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Installment and Other Loans [Member ] | Doubtful [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | 0 | 0 | ||
Installment and Other Loans [Member ] | Unlikely to be Collected Financing Receivable [Member] | ||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | ||
Total loans | $ 0 | $ 0 |
Note 8 - Loans - Allowance for
Note 8 - Loans - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Method (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Loans individually evaluated for impairment, allowance | $ 6,429 | |
Loans individually evaluated for impairment, balance | 95,405 | |
Loans collectively evaluated for impairment, allowance | 160,109 | |
Loans collectively evaluated for impairment, balance | 15,548,991 | |
Loans, allowance | $ 131,256 | 166,538 |
Loans | 15,690,689 | 15,644,396 |
Commercial Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 1,030 | |
Loans individually evaluated for impairment, balance | 27,070 | |
Loans collectively evaluated for impairment, allowance | 67,712 | |
Loans collectively evaluated for impairment, balance | 2,809,763 | |
Loans, allowance | 68,742 | |
Loans | 2,867,437 | 2,836,833 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 0 | |
Loans individually evaluated for impairment, balance | 4,286 | |
Loans collectively evaluated for impairment, allowance | 30,854 | |
Loans collectively evaluated for impairment, balance | 675,206 | |
Loans, allowance | 30,854 | |
Loans | 664,495 | 679,492 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 5,254 | |
Loans individually evaluated for impairment, balance | 53,289 | |
Loans collectively evaluated for impairment, allowance | 43,951 | |
Loans collectively evaluated for impairment, balance | 7,501,738 | |
Loans, allowance | 49,205 | |
Loans | 7,615,088 | 7,555,027 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 145 | |
Loans individually evaluated for impairment, balance | 10,760 | |
Loans collectively evaluated for impairment, allowance | 17,592 | |
Loans collectively evaluated for impairment, balance | 4,559,184 | |
Loans, allowance | 17,737 | |
Loans | $ 4,540,537 | 4,569,944 |
Consumer Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 0 | |
Loans individually evaluated for impairment, balance | 0 | |
Loans collectively evaluated for impairment, allowance | 0 | |
Loans collectively evaluated for impairment, balance | 3,100 | |
Loans, allowance | 0 | |
Loans | $ 3,100 |
Note 8 - Loans - Allowance fo_2
Note 8 - Loans - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |||
Beginning Balance | $ 145,110 | [1] | $ 148,273 | $ 166,538 | $ 123,224 | |
Provision/(reversal) for possible credit losses | (6,600) | 25,000 | (18,710) | 50,000 | ||
Charge-offs | (7,712) | (5,106) | (16,850) | (6,427) | ||
Recoveries | (458) | (1,513) | (1,838) | (2,883) | ||
Net (charge-offs)/recoveries | (7,254) | (3,593) | (15,012) | (3,544) | ||
Ending Balance | 131,256 | 169,680 | 131,256 | 169,680 | ||
Recoveries | 458 | 1,513 | 1,838 | 2,883 | ||
Reserve for impaired loans | 7,525 | 7,525 | ||||
Reserve for non-impaired loans | 162,155 | 162,155 | ||||
Reserve for off-balance sheet credit commitments | 4,663 | 4,663 | ||||
Commitments to Extend Credit [Member] | ||||||
Beginning Balance | 10,450 | [1] | 5,880 | |||
Provision/(reversal) for possible credit losses | (2,400) | (3,848) | ||||
Ending Balance | 8,050 | 8,050 | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Beginning Balance | [1] | (1,560) | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | 6,018 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Beginning Balance | [1] | 164,978 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | 11,898 | ||||
Commercial Portfolio Segment [Member] | ||||||
Beginning Balance | 42,034 | [1] | 67,799 | 68,742 | 57,021 | |
Provision/(reversal) for possible credit losses | 5,590 | 18,213 | 18,216 | 29,104 | ||
Charge-offs | (7,712) | (5,106) | (16,850) | (6,427) | ||
Recoveries | (155) | (1,350) | (1,425) | (2,558) | ||
Net (charge-offs)/recoveries | (7,557) | (3,756) | (15,425) | (3,869) | ||
Ending Balance | 40,067 | 82,256 | 40,067 | 82,256 | ||
Recoveries | 155 | 1,350 | 1,425 | 2,558 | ||
Reserve for impaired loans | 6,895 | 6,895 | ||||
Reserve for non-impaired loans | 75,361 | 75,361 | ||||
Reserve for off-balance sheet credit commitments | 3,581 | 3,581 | ||||
Commercial Portfolio Segment [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | 8,163 | [1] | 4,802 | |||
Provision/(reversal) for possible credit losses | (3,775) | (3,650) | ||||
Ending Balance | 4,388 | 4,388 | ||||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Beginning Balance | [1] | (31,466) | ||||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | 3,236 | ||||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Beginning Balance | [1] | 37,276 | ||||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | 8,038 | ||||
Real Estate Construction Portfolio Segment [Member] | ||||||
Beginning Balance | 6,992 | [1] | 23,222 | 30,854 | 19,474 | |
Provision/(reversal) for possible credit losses | (873) | 3,478 | (428) | 7,226 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Net (charge-offs)/recoveries | 0 | 0 | 0 | 0 | ||
Ending Balance | 6,119 | 26,700 | 6,119 | 26,700 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Reserve for impaired loans | 0 | 0 | ||||
Reserve for non-impaired loans | 26,700 | 26,700 | ||||
Reserve for off-balance sheet credit commitments | 666 | 666 | ||||
Real Estate Construction Portfolio Segment [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | 2,251 | [1] | 690 | |||
Provision/(reversal) for possible credit losses | 1,330 | (244) | ||||
Ending Balance | 3,581 | 3,581 | ||||
Real Estate Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Beginning Balance | [1] | (24,307) | ||||
Real Estate Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | 3,135 | ||||
Real Estate Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Beginning Balance | [1] | 6,547 | ||||
Real Estate Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | 3,825 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Beginning Balance | 65,347 | [1] | 39,886 | 49,205 | 33,602 | |
Provision/(reversal) for possible credit losses | (7,416) | 1,151 | (26,362) | 7,280 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | (95) | (95) | (190) | (250) | ||
Net (charge-offs)/recoveries | 95 | 95 | 190 | 250 | ||
Ending Balance | 58,026 | 41,132 | 58,026 | 41,132 | ||
Recoveries | 95 | 95 | 190 | 250 | ||
Reserve for impaired loans | 323 | 323 | ||||
Reserve for non-impaired loans | 40,809 | 40,809 | ||||
Reserve for off-balance sheet credit commitments | 117 | 117 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | 36 | [1] | 101 | |||
Provision/(reversal) for possible credit losses | 45 | 46 | ||||
Ending Balance | 81 | 81 | ||||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Beginning Balance | [1] | 34,993 | ||||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | (66) | ||||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Beginning Balance | [1] | 84,198 | ||||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | 35 | ||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||||
Beginning Balance | 30,734 | [1] | 17,366 | 17,737 | 13,108 | |
Provision/(reversal) for possible credit losses | (3,899) | 2,158 | (10,128) | 6,409 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | (208) | (68) | (223) | (75) | ||
Net (charge-offs)/recoveries | 208 | 68 | 223 | 75 | ||
Ending Balance | 27,043 | 19,592 | 27,043 | 19,592 | ||
Recoveries | 208 | 68 | 223 | 75 | ||
Reserve for impaired loans | 307 | 307 | ||||
Reserve for non-impaired loans | 19,285 | 19,285 | ||||
Reserve for off-balance sheet credit commitments | 297 | 297 | ||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | 0 | [1] | 284 | |||
Provision/(reversal) for possible credit losses | 0 | 0 | ||||
Ending Balance | 0 | 0 | ||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Beginning Balance | [1] | 19,211 | ||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | (284) | ||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Beginning Balance | [1] | 36,948 | ||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | 0 | ||||
Installment and Other Loans [Member ] | ||||||
Beginning Balance | 3 | [1] | 0 | 0 | 19 | |
Provision/(reversal) for possible credit losses | (2) | 0 | (8) | (19) | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Net (charge-offs)/recoveries | 0 | 0 | 0 | 0 | ||
Ending Balance | 1 | 0 | 1 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Reserve for impaired loans | 0 | 0 | ||||
Reserve for non-impaired loans | 0 | 0 | ||||
Reserve for off-balance sheet credit commitments | $ 2 | $ 2 | ||||
Installment and Other Loans [Member ] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | 0 | [1] | 3 | |||
Provision/(reversal) for possible credit losses | 0 | 0 | ||||
Ending Balance | $ 0 | 0 | ||||
Installment and Other Loans [Member ] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Beginning Balance | [1] | 9 | ||||
Installment and Other Loans [Member ] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | (3) | ||||
Installment and Other Loans [Member ] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Beginning Balance | [1] | 9 | ||||
Installment and Other Loans [Member ] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Beginning Balance | [1] | $ 0 | ||||
[1] | Balance sheet amounts previously reported for the impact of the initial adoption of CECL on January 1, 2021 have been corrected. The correction decreased the allowance for loan losses by $2.2 million and increased the allowance for unfunded credit commitments by $5.5 million. |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Qualified Affordable Housing and Alternative Energy Partnerships [Member] | ||
Other Commitment, Total | $ 89.5 | $ 103.1 |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Operating Lease, Expense | $ 2,600 | $ 2,900 | $ 5,200 | $ 5,800 |
Operating Lease, Payments | $ 2,500 | $ 2,400 | 4,900 | $ 4,600 |
Operating Lease, Impairment Loss | $ 187 |
Note 10 - Leases - Operating Le
Note 10 - Leases - Operating Lease Related Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Right-of-use assets - operating leases | $ 31,310 | $ 30,919 |
Lease liabilities - operating leases | $ 34,194 | $ 33,484 |
Weighted-average remaining lease term (in years) (Year) | 4 years 7 months 6 days | 4 years 8 months 12 days |
Weighted-average discount rate | 2.62% | 2.77% |
Note 10 - Leases - Lease Maturi
Note 10 - Leases - Lease Maturity Schedule (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Remaining 2021 | $ 4,815 | |
2022 | 9,406 | $ 9,384 |
2023 | 7,970 | 8,335 |
2024 | 5,552 | 6,890 |
2025 | 3,307 | 4,635 |
Thereafter | 5,352 | 4,153 |
Total lease payments | 36,402 | 35,917 |
Less amount of payment representing interest | (2,208) | (2,433) |
Lease liabilities - operating leases | $ 34,194 | 33,484 |
2025 | $ 2,520 |
Note 11 - Borrowed Funds (Detai
Note 11 - Borrowed Funds (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Advances from Federal Home Loan Banks, Total | $ 20,000 | $ 150,000 |
Junior Subordinated Notes, Noncurrent | $ 119,100 | |
Junior Subordinated Debt [Member] | ||
Junior Subordinated Notes, Noncurrent | $ 119,100 | |
Debt Instrument, Interest Rate, Effective Percentage | 2.36% | 2.40% |
Debt Instrument, Term (Year) | 30 years | |
Mature in May 2023 [Member] | ||
Advances from Federal Home Loan Banks, Total | $ 20,000 | |
Over-night Borrowings [Member] | ||
Advances from Federal Home Loan Banks, Total | 0 | $ 0 |
Non Overnight Borrowings [Member] | ||
Advances from Federal Home Loan Banks, Total | $ 20,000 | $ 150,000 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.89% | 2.15% |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 22.30% | 11.10% |
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount | $ 17 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Open Tax Year | 2017 2018 2019 2020 | |
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | ||
Open Tax Year | 2016 2017 2018 2019 2020 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 4,871 | $ 4,918 |
Minimum [Member] | ||
Estimated Sales Cost Applied To Collateral | 3.00% | |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.0018 | |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.1675 | |
Minimum [Member] | Warrants Outstanding [Member] | ||
Expected Life Of Warrants (Year) | 1 year | |
Maximum [Member] | ||
Estimated Sales Cost Applied To Collateral | 6.00% | |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.0103 | |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.2085 | |
Maximum [Member] | Warrants Outstanding [Member] | ||
Expected Life Of Warrants (Year) | 6 years | |
Net of Estimated Disposal Costs [Member] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 4,900 |
Note 13 - Fair Value Measurem_4
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Securities available-for-sale | $ 1,002,515 | $ 1,036,550 |
Equity securities | 20,113 | 23,744 |
Assets, fair value disclosure | 1,031,221 | 1,068,382 |
Liabilities, fair value disclosure | 13,424 | 12,486 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 40,467 | 80,948 |
Equity securities | 20,113 | 23,744 |
Assets, fair value disclosure | 60,580 | 104,692 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 962,048 | 955,602 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 970,619 | 963,669 |
Liabilities, fair value disclosure | 13,424 | 12,486 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 22 | 21 |
Liabilities, fair value disclosure | 0 | 0 |
US Treasury Securities [Member] | ||
Securities available-for-sale | 40,467 | 80,948 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 40,467 | 80,948 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Government Corporations and Agencies Securities [Member] | ||
Securities available-for-sale | 93,312 | 99,839 |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 93,312 | 99,839 |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 749,476 | 727,068 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 749,476 | 727,068 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 9,736 | 10,324 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 9,736 | 10,324 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale | 109,524 | 118,371 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 109,524 | 118,371 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Mutual Funds [Member] | ||
Equity securities | 6,318 | 6,413 |
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Equity securities | 6,318 | 6,413 |
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Equity securities | 0 | 0 |
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Equity securities | 0 | 0 |
Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 1,313 | 5,485 |
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Equity securities | 1,313 | 5,485 |
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Equity securities | 0 | 0 |
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Equity securities | 0 | 0 |
Other Equity Securities [Member] | ||
Equity securities | 12,482 | 11,846 |
Other Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Equity securities | 12,482 | 11,846 |
Other Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Equity securities | 0 | 0 |
Other Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Equity securities | 0 | 0 |
Warrant [Member] | ||
Assets, fair value disclosure | 22 | 21 |
Warrant [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Warrant [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Warrant [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value disclosure | 22 | 21 |
Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 4,904 | 3,409 |
Liabilities, fair value disclosure | 9,593 | 10,286 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value disclosure | 4,904 | 3,409 |
Liabilities, fair value disclosure | 9,593 | 10,286 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 3,667 | 4,658 |
Liabilities, fair value disclosure | 3,831 | 2,200 |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value disclosure | 3,667 | 4,658 |
Liabilities, fair value disclosure | 3,831 | 2,200 |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | $ 0 | $ 0 |
Note 13 - Fair Value Measurem_5
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments - Financial Assets and Liabilities Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||
Assets, fair value disclosure | $ 1,031,221 | $ 1,031,221 | $ 1,068,382 | |||
Fair Value, Nonrecurring [Member] | ||||||
Assets, fair value disclosure | 23,418 | 23,418 | 41,920 | |||
Total Losses | 111 | $ 452 | 182 | $ 821 | ||
Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 17,312 | 17,312 | 35,398 | |||
Total Losses | 0 | 0 | 0 | 0 | ||
Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||||||
Assets, fair value disclosure | [1] | 5,091 | 5,091 | 5,141 | ||
Total Losses | [1] | 47 | 381 | 47 | 717 | |
Fair Value, Nonrecurring [Member] | Investments in Venture Capital and Private Company Stock [Member] | ||||||
Assets, fair value disclosure | 1,015 | 1,015 | 1,381 | |||
Total Losses | 64 | 71 | 135 | 104 | ||
Fair Value, Inputs, Level 1 [Member] | ||||||
Assets, fair value disclosure | 60,580 | 60,580 | 104,692 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||||||
Assets, fair value disclosure | [1] | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Investments in Venture Capital and Private Company Stock [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | ||||||
Assets, fair value disclosure | 970,619 | 970,619 | 963,669 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||||||
Assets, fair value disclosure | [1] | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Investments in Venture Capital and Private Company Stock [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | ||||||
Assets, fair value disclosure | 22 | 22 | 21 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||
Assets, fair value disclosure | 23,418 | 23,418 | 41,920 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 17,312 | 17,312 | 35,398 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||||||
Assets, fair value disclosure | [1] | 5,091 | 5,091 | 5,141 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Investments in Venture Capital and Private Company Stock [Member] | ||||||
Assets, fair value disclosure | 1,015 | 1,015 | 1,381 | |||
Commercial Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 2,059 | 2,059 | 5,342 | |||
Total Losses | 0 | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 2,059 | 2,059 | 5,342 | |||
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 11,742 | 11,742 | 25,749 | |||
Total Losses | 0 | 0 | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 11,742 | 11,742 | 25,749 | |||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 3,511 | 3,511 | 4,307 | |||
Total Losses | 0 | $ 0 | 0 | $ 0 | ||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Loans Receivable [Member] | ||||||
Assets, fair value disclosure | $ 3,511 | $ 3,511 | $ 4,307 | |||
[1] | Other real estate owned balance of $4.9 million in the Consolidated Balance Sheets is net of estimated disposal costs. |
Note 13 - Fair Value Measurem_6
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | |
Equity securities | $ 20,113 | $ 23,744 | |
Warrants | 4,903 | 3,409 | |
Foreign exchange contracts with gain | 200,863 | 151,244 | |
Foreign exchange contracts with gain, fair value | 3,667 | 4,658 | |
Interest rate swaps | 563,399 | 96,889 | |
Interest rate swaps, fair value | 4,904 | 3,409 | |
Foreign exchange contracts with loss | 155,052 | 132,813 | |
Foreign exchange contracts with loss, fair value | 3,831 | 2,200 | |
Interest rate swaps | 703,984 | 679,648 | |
Interest rate swaps, fair value | 9,593 | 10,286 | |
Commitments to extend credit | 3,048,412 | 2,977,528 | |
Commitments to extend credit, fair value | (10,632) | (8,432) | |
Standby letters of credit | 222,196 | 234,200 | |
Standby letters of credit, fair value | (2,106) | (1,630) | |
Other letters of credit | 27,361 | 16,821 | |
Other letters of credit, fair value | (52) | (16) | |
Bill of lading guarantees | 0 | 238 | |
Bill of lading guarantees, fair value | 0 | 0 | |
Reported Value Measurement [Member] | |||
Cash and due from banks | 133,507 | 138,616 | |
Short-term investments | 1,589,086 | 1,282,462 | |
Securities available-for-sale | 1,002,515 | 1,036,550 | |
Loans, net | 15,690,689 | 15,475,364 | |
Equity securities | 20,113 | 23,744 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 16,537,513 | 16,109,401 | |
Advances from Federal Home Loan Bank | 20,000 | 150,000 | |
Other borrowings | 23,249 | 23,714 | |
Long-term debt | 119,136 | 119,136 | |
Reported Value Measurement [Member] | Warrants [Member] | |||
Warrants | 22 | 21 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 133,507 | 138,616 | |
Short-term investments | 1,589,086 | 1,282,462 | |
Securities available-for-sale | 1,002,515 | 1,036,550 | |
Loans, net | [1] | 16,095,071 | 16,103,471 |
Equity securities | 20,113 | 23,744 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 16,545,365 | 16,125,808 | |
Advances from Federal Home Loan Bank | 20,986 | 155,133 | |
Other borrowings | 19,074 | 19,632 | |
Long-term debt | 64,892 | 65,487 | |
Estimate of Fair Value Measurement [Member] | Warrants [Member] | |||
Warrants | $ 22 | $ 21 | |
[1] | In accordance with the prospective adoption of ASU 2016-01, the fair value of loans as of December 31, 2019 & 2018 was measured using an exit price notion. |
Note 13 - Fair Value Measurem_7
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | |
Equity securities | $ 20,113 | $ 23,744 | |
Warrants | 4,903 | 3,409 | |
Fair Value, Inputs, Level 1 [Member] | |||
Equity securities | 20,113 | 23,744 | |
Fair Value, Inputs, Level 2 [Member] | |||
Equity securities | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Equity securities | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 133,507 | 138,616 | |
Short-term investments | 1,589,086 | 1,282,462 | |
Securities available-for-sale | 1,002,515 | 1,036,550 | |
Loans, net | [1] | 16,095,071 | 16,103,471 |
Equity securities | 20,113 | 23,744 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 16,545,365 | 16,125,808 | |
Advances from Federal Home Loan Bank | 20,986 | 155,133 | |
Other borrowings | 19,074 | 19,632 | |
Long-term debt | 64,892 | 65,487 | |
Estimate of Fair Value Measurement [Member] | Warrants [Member] | |||
Warrants | 22 | 21 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and due from banks | 133,507 | 138,616 | |
Short-term investments | 1,589,086 | 1,282,462 | |
Securities available-for-sale | 40,467 | 80,948 | |
Loans, net | [1] | 0 | 0 |
Equity securities | 20,113 | 23,744 | |
Investment in Federal Home Loan Bank stock | 0 | 0 | |
Deposits | 0 | 0 | |
Advances from Federal Home Loan Bank | 0 | 0 | |
Other borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Warrants [Member] | |||
Warrants | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and due from banks | 0 | 0 | |
Short-term investments | 0 | 0 | |
Securities available-for-sale | 962,048 | 955,602 | |
Loans, net | [1] | 0 | 0 |
Equity securities | 0 | 0 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 0 | 0 | |
Advances from Federal Home Loan Bank | 20,986 | 155,133 | |
Other borrowings | 0 | 0 | |
Long-term debt | 64,892 | 65,487 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Warrants [Member] | |||
Warrants | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and due from banks | 0 | 0 | |
Short-term investments | 0 | 0 | |
Securities available-for-sale | 0 | 0 | |
Loans, net | [1] | 16,095,071 | 16,103,471 |
Equity securities | 0 | 0 | |
Investment in Federal Home Loan Bank stock | 0 | 0 | |
Deposits | 16,545,365 | 16,125,808 | |
Advances from Federal Home Loan Bank | 0 | 0 | |
Other borrowings | 19,074 | 19,632 | |
Long-term debt | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Warrants [Member] | |||
Warrants | $ 22 | $ 21 | |
[1] | In accordance with the prospective adoption of ASU 2016-01, the fair value of loans as of December 31, 2019 & 2018 was measured using an exit price notion. |
Note 14 - Goodwill and Goodwi_2
Note 14 - Goodwill and Goodwill Impairment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Jun. 30, 2021 | |
Goodwill, Ending Balance | $ 372,189 | $ 372,189 |
Goodwill, Impairment Loss | $ 0 |
Note 15 - Financial Derivativ_3
Note 15 - Financial Derivatives (Details Textual) - USD ($) $ in Thousands | May 31, 2014 | Jun. 30, 2021 | Dec. 31, 2020 |
Junior Subordinated Notes, Total | $ 119,100 | ||
Cash [Member] | |||
Collateral Already Posted, Aggregate Fair Value | $ 9,100 | $ 11,900 | |
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | |||
Derivative Outstanding, Notional Amount | $ 119,100 | ||
Derivative Original Maturity (Year) | 10 years | ||
Derivative, Notional Amount | 119,136 | 119,136 | |
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | |||
Derivative, Notional Amount | $ 795,935 | $ 478,266 | |
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Minimum [Member] | |||
Derivative, Term of Contract (Year) | 3 years | ||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Maximum [Member] | |||
Derivative, Term of Contract (Year) | 10 years | ||
Loans Receivable with Partial-term Hedging Designation [Member] | |||
Derivative, Notional Amount | $ 816,700 | ||
Hedged Asset, Fair Value Hedge | 404,900 | ||
Hedged Asset, Fair Value Hedge, Last-of-Layer, Amount | 404,900 | ||
Hedged Asset, Fair Value Hedge, Last-of-Layer, Cumulative Increase (Decrease) | $ 929 |
Note 15 - Financial Derivativ_4
Note 15 - Financial Derivatives - Cash Flow Swap Hedges (Details) - Interest Rate Swap [Member] - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||
Notional | $ 119,136 | $ 119,136 | $ 119,136 | |||
Weighted average fixed rate-pay | 2.61% | 2.61% | 2.61% | |||
Weighted average variable rate-receive | 0.16% | 0.16% | 0.44% | |||
Unrealized loss, net of taxes | [1] | $ (5,188) | $ (6,890) | |||
Periodic net settlement of swaps | [2] | $ 731 | $ 514 | $ 1,442 | $ 769 | |
[1] | Included in other comprehensive income. | |||||
[2] | the amount of periodic net settlement of interest rate swaps was included in interest expense. |
Note 15 - Financial Derivativ_5
Note 15 - Financial Derivatives - Fair Value Swap Hedges (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||
Net unrealized loss | $ 1,702 | $ (4,513) | ||||
Periodic net settlement of SWAPs | [1] | $ (2,387) | $ (2,154) | (4,774) | $ (2,797) | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||||||
Derivative, Notional Amount | $ 795,935 | $ 795,935 | $ 478,266 | |||
Weighted average fixed rate-pay | 2.55% | 2.55% | 4.56% | |||
Weighted average variable rate-receive | 1.37% | 1.37% | 3.11% | |||
Net unrealized loss | [2] | $ (9,182) | $ (15,082) | |||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Weighted average variable rate spread | 1.26% | 1.26% | 2.46% | |||
[1] | the amount of periodic net settlement of interest rate swaps was included in interest income. | |||||
[2] | the amount is included in other non-interest income. |
Note 15 - Financial Derivativ_6
Note 15 - Financial Derivatives - Not Designated as Hedging (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Spot, Forward, and Swap Contracts with Positive Fair Value [Member] | ||
Notional | $ 200,863 | $ 151,244 |
Option contracts, fair value | 3,667 | 4,658 |
Spot, Forward, and Swap Contracts with Negative Fair Value [Member] | ||
Notional | 155,052 | 132,813 |
Option contracts, fair value | $ (3,831) | $ (2,200) |
Note 16 - Balance Sheet Offse_3
Note 16 - Balance Sheet Offsetting - Financial Instruments That Are Eligible for Offset in the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Derivative assets, gross | $ 4,903 | $ 3,409 |
Derivative assets, net | 4,903 | 3,409 |
Derivatives, collateral posted | 0 | 0 |
Derivative assets not offset | 4,903 | 3,409 |
Derivative liabilities, gross | 21,445 | 28,258 |
Derivatives | (11,846) | (17,972) |
Derivative liabilities, net | 9,599 | 10,286 |
Derivatives, collateral posted | 0 | 0 |
Derivatives liabilities not offset | $ 9,599 | $ 10,286 |
Note 17 - Revenue from Contra_3
Note 17 - Revenue from Contracts with Customers - Summary of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Revenues | $ 9,966 | $ 7,072 | $ 19,126 | $ 15,636 | |
Noninterest income, not in-scope(2) | [1] | 2,617 | 8,534 | 3,457 | 5,756 |
Total non-interest income | 12,583 | 15,606 | 22,583 | 21,392 | |
Fees and Services Charges on Deposit Account [Member] | |||||
Revenues | 2,144 | 1,873 | 4,256 | 3,928 | |
Wealth Management Fees [Member] | |||||
Revenues | 3,939 | 2,209 | 7,496 | 5,346 | |
Other Service Fees [Member] | |||||
Revenues | [2] | $ 3,883 | $ 2,990 | $ 7,374 | $ 6,362 |
[1] | These amounts primarily represent revenue from contracts with customers that are out of the scope of ASC 606. | ||||
[2] | Other service fees is comprised of fees related to letters of credit, wire fees, fees on foreign exchange transactions and other immaterial individual revenue streams. |
Note 18 - Stockholders' Equit_2
Note 18 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | [1] | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Stockholders' Equity Attributable to Parent, Ending Balance | $ 2,452,357 | $ 2,342,448 | $ 2,452,357 | $ 2,342,448 | $ 2,460,948 | $ 2,418,144 | $ 2,313,037 | $ 2,294,283 | |
Stockholders' Equity, Period Increase (Decrease), Total | 34,200 | ||||||||
Net Income (Loss) Attributable to Parent, Total | 77,199 | 54,321 | 150,583 | 101,173 | |||||
Share-based Payment Arrangement, Noncash Expense, Total | 2,400 | ||||||||
Proceeds from Issuance of Common Stock, Dividend Reinvestment Plan | 1,725 | 1,707 | |||||||
Treasury Stock, Value, Acquired, Cost Method | 63,529 | 63,529 | 12,880 | ||||||
Dividends, Common Stock, Cash | 24,548 | 24,672 | 49,198 | 49,332 | |||||
Other Comprehensive Income (Loss), Net of Tax, Total | $ 686 | $ (1,524) | $ (2,938) | $ 6,051 | |||||
[1] | Balance sheet amounts previously reported for the impact of the initial adoption of CECL on January 1, 2021 have been corrected. The correction had an after-tax decrease to the cumulative effect of the change in accounting principle related to ASC326 of $2.3 million. |
Note 18 - Stockholders' Equit_3
Note 18 - Stockholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Beginning balance, loss, net of tax | $ 2,460,948 | [1] | $ 2,313,037 | $ 2,418,144 | $ 2,294,283 |
Total other comprehensive (loss)/income, net of tax | 686 | (1,524) | (2,938) | 6,051 | |
Ending balance, loss, net of tax | 2,452,357 | 2,342,448 | 2,452,357 | 2,342,448 | |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||
Beginning balance, loss, net of tax | 7,313 | 17,567 | 12,200 | 5,714 | |
Net unrealized (losses)/gains arising during the period, pre-tax | 352 | (683) | (5,733) | 16,150 | |
Net unrealized (losses)/gains arising during the period, tax | 104 | (202) | (1,695) | 4,774 | |
Net unrealized (losses)/gains arising during the period, net of tax | 247 | (481) | (4,039) | 11,376 | |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 0 | 1,147 | 853 | 1,153 | |
Reclassification adjustment for net losses/(gains) included in net income, tax | 0 | 339 | 252 | 341 | |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 0 | 808 | 601 | 812 | |
Total other comprehensive (loss)/income, pre-tax | 352 | (1,830) | (6,586) | 14,997 | |
Total other comprehensive (loss)/income, tax | 104 | (541) | (1,947) | 4,433 | |
Total other comprehensive (loss)/income, net of tax | 247 | (1,289) | (4,640) | 10,564 | |
Ending balance, loss, net of tax | 7,560 | 16,278 | 7,560 | 16,278 | |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | |||||
Beginning balance, loss, net of tax | (5,627) | (7,690) | (6,890) | (3,412) | |
Net unrealized (losses)/gains arising during the period, pre-tax | 623 | (334) | 2,416 | (6,407) | |
Net unrealized (losses)/gains arising during the period, tax | 184 | (99) | 714 | (1,894) | |
Net unrealized (losses)/gains arising during the period, net of tax | 439 | (235) | 1,702 | (4,513) | |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 0 | 0 | 0 | 0 | |
Reclassification adjustment for net losses/(gains) included in net income, tax | 0 | 0 | 0 | 0 | |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 0 | 0 | 0 | 0 | |
Total other comprehensive (loss)/income, pre-tax | 623 | (334) | 2,416 | (6,407) | |
Total other comprehensive (loss)/income, tax | 184 | (99) | 714 | (1,894) | |
Total other comprehensive (loss)/income, net of tax | 439 | (235) | 1,702 | (4,513) | |
Ending balance, loss, net of tax | (5,188) | (7,925) | (5,188) | (7,925) | |
AOCI Attributable to Parent [Member] | |||||
Beginning balance, loss, net of tax | 1,686 | [1] | 9,877 | 5,310 | 2,302 |
Net unrealized (losses)/gains arising during the period, pre-tax | 975 | (1,017) | (3,317) | 9,743 | |
Net unrealized (losses)/gains arising during the period, tax | 288 | (301) | (981) | 2,880 | |
Net unrealized (losses)/gains arising during the period, net of tax | 686 | (716) | (2,337) | 6,863 | |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 0 | 1,147 | 853 | 1,153 | |
Reclassification adjustment for net losses/(gains) included in net income, tax | 0 | 339 | 252 | 341 | |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 0 | 808 | 601 | 812 | |
Total other comprehensive (loss)/income, pre-tax | 975 | (2,164) | (4,170) | 8,590 | |
Total other comprehensive (loss)/income, tax | 288 | (640) | (1,233) | 2,539 | |
Total other comprehensive (loss)/income, net of tax | 686 | (1,524) | (2,938) | 6,051 | |
Ending balance, loss, net of tax | $ 2,372 | $ 8,353 | $ 2,372 | $ 8,353 | |
[1] | Balance sheet amounts previously reported for the impact of the initial adoption of CECL on January 1, 2021 have been corrected. The correction had an after-tax decrease to the cumulative effect of the change in accounting principle related to ASC326 of $2.3 million. |
Note 19 - Stock Repurchase Pr_2
Note 19 - Stock Repurchase Program (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Apr. 01, 2021 | |
Stock Repurchase Program, Authorized Amount | $ 75,000 | |||
Treasury Stock, Shares, Acquired (in shares) | 1,532,406 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 63,529 | $ 63,529 | $ 12,880 | |
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 41.46 | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 11,500 | $ 11,500 |
Note 20 - Subsequent Events (De
Note 20 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Aug. 05, 2021 | Jun. 30, 2021 | Jun. 30, 2021 | Jun. 30, 2020 |
Treasury Stock, Shares, Acquired (in shares) | 1,532,406 | |||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 41.46 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 63,529 | $ 63,529 | $ 12,880 | |
Subsequent Event [Member] | ||||
Treasury Stock, Shares, Acquired (in shares) | 300,075 | |||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 38.23 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 11,500 |