Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 31, 2022 | |
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 | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
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 | 74,413,792 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and due from banks | $ 200,051 | $ 134,141 |
Short-term investments and interest-bearing deposits | 1,063,294 | 2,315,563 |
Securities available-for-sale (amortized cost of $1,577,311 at September 30, 2022, and $1,126,867 at December 31, 2021) | 1,414,411 | 1,127,309 |
Loans | 18,106,803 | 16,342,479 |
Less: Allowance for loan losses | (148,817) | (136,157) |
Unamortized deferred loan fees, net | (6,936) | (4,321) |
Loans, net | 17,951,050 | 16,202,001 |
Equity securities | 23,123 | 22,319 |
Federal Home Loan Bank stock | 17,250 | 17,250 |
Other real estate owned, net | 4,067 | 4,368 |
Affordable housing investments and alternative energy partnerships, net | 325,439 | 299,211 |
Premises and equipment, net | 96,419 | 99,402 |
Customers’ liability on acceptances | 6,899 | 8,112 |
Accrued interest receivable | 71,177 | 56,994 |
Goodwill | 375,696 | 372,189 |
Other intangible assets, net | 6,948 | 4,627 |
Right-of-use assets - operating leases | 30,679 | 27,834 |
Other assets | 303,628 | 195,403 |
Total assets | 21,890,131 | 20,886,723 |
Deposits: | ||
Non-interest-bearing demand deposits | 4,398,152 | 4,492,054 |
Interest-bearing deposits: | ||
NOW deposits | 2,570,036 | 2,522,442 |
Money market deposits | 4,935,266 | 4,611,579 |
Savings deposits | 1,128,823 | 915,515 |
Time deposits | 5,543,474 | 5,517,252 |
Total deposits | 18,575,751 | 18,058,842 |
Advances from the Federal Home Loan Bank | 360,000 | 20,000 |
Other borrowings of affordable housing investments | 22,651 | 23,145 |
Long-term debt | 119,136 | 119,136 |
Acceptances outstanding | 6,899 | 8,112 |
Lease liabilities - operating leases | 33,931 | 30,694 |
Other liabilities | 352,204 | 180,543 |
Total liabilities | 19,470,572 | 18,440,472 |
Commitments and contingencies | 0 | 0 |
Stockholders’ Equity | ||
Common stock, $0.01 par value, 100,000,000 shares authorized; 91,067,423 issued and 73,411,960 outstanding at September 30, 2022, and 90,871,860 issued and 75,750,862 outstanding at December 31, 2021 | 911 | 909 |
Additional paid-in-capital | 978,433 | 972,474 |
Accumulated other comprehensive loss, net | (112,874) | (3,065) |
Retained earnings | 2,172,098 | 1,985,168 |
Treasury stock, at cost (17,655,463 shares at September 30, 2022, and 15,120,998 shares at December 31, 2021) | (619,009) | (509,235) |
Total equity | 2,419,559 | 2,446,251 |
Total liabilities and equity | $ 21,890,131 | $ 20,886,723 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Securities available-for-sale, amortized cost | $ 1,577,311 | $ 1,126,867 |
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) | 91,067,423 | 90,871,860 |
Common stock, shares outstanding (in shares) | 73,411,960 | 75,750,862 |
Treasury stock shares (in shares) | 17,655,463 | 15,120,998 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Interest and Dividend Income | ||||
Loans receivable | $ 211,541 | $ 163,948 | $ 558,657 | $ 485,162 |
Investment securities | 7,483 | 3,707 | 18,059 | 9,963 |
Federal Home Loan Bank stock | 258 | 258 | 774 | 730 |
Deposits with banks | 6,732 | 714 | 10,003 | 1,467 |
Total interest and dividend income | 226,014 | 168,627 | 587,493 | 497,322 |
Interest Expense | ||||
Time deposits | 10,218 | 9,299 | 22,002 | 33,363 |
Other deposits | 13,871 | 5,243 | 25,894 | 16,302 |
Advances from Federal Home Loan Bank | 2,941 | 146 | 3,396 | 1,036 |
Long-term debt | 1,455 | 1,455 | 4,318 | 4,318 |
Total interest expense | 28,485 | 16,143 | 55,610 | 55,019 |
Net interest income before provision/(reversal) for credit losses | 197,529 | 152,484 | 531,883 | 442,303 |
Provision/(reversal) for credit losses | (2,000) | (3,050) | (13,143) | 19,508 |
Net interest income after provision/(reversal) for credit losses | 195,529 | 149,434 | 518,740 | 461,811 |
Non-Interest Income | ||||
Net (losses)/gains from equity securities | (3,661) | 3 | 1,358 | (3,628) |
Securities losses, net | 0 | 0 | 0 | 853 |
Letters of credit commissions | 1,609 | 1,764 | 4,767 | 5,236 |
Other operating income | 6,054 | 5,470 | 21,114 | 17,157 |
Total non-interest income | 9,876 | 12,216 | 44,726 | 34,799 |
Non-Interest Expense | ||||
Salaries and employee benefits | 34,677 | 33,437 | 107,453 | 98,917 |
Occupancy expense | 5,975 | 5,136 | 17,150 | 15,142 |
Computer and equipment expense | 3,509 | 3,175 | 9,762 | 10,093 |
Professional services expense | 6,337 | 6,232 | 20,738 | 16,698 |
Data processing service expense | 3,484 | 3,524 | 9,813 | 10,422 |
FDIC and regulatory assessments | 2,003 | 1,830 | 5,999 | 5,195 |
Marketing expense | 2,005 | 945 | 4,692 | 5,270 |
Other real estate owned expense/(income) | 55 | (88) | 93 | 197 |
Amortization of investments in low income housing and alternative energy partnerships | 11,949 | 12,411 | 27,471 | 34,663 |
Amortization of core deposit intangibles | 250 | 172 | 724 | 515 |
Cost associated with debt redemption | 0 | 0 | 0 | 732 |
Acquisition, integration and restructuring costs | 59 | 476 | 4,086 | 476 |
Other operating expense | 5,085 | 4,965 | 14,227 | 15,005 |
Total non-interest expense | 75,388 | 72,215 | 222,208 | 213,325 |
Income before income tax expense | 130,017 | 89,435 | 341,258 | 283,285 |
Income tax expense | 30,982 | 17,038 | 78,217 | 60,305 |
Net income | 99,035 | 72,397 | 263,041 | 222,980 |
Other Comprehensive Income, net of tax | ||||
Net holding losses on securities available-for-sale | (43,191) | (3,232) | (115,612) | (7,872) |
Net holding gains on cash flow hedge derivatives | 1,645 | 492 | 5,803 | 2,194 |
Total other comprehensive loss, net of tax | (41,546) | (2,740) | (109,809) | (5,678) |
Total other comprehensive income | $ 57,489 | $ 69,657 | $ 153,232 | $ 217,302 |
Net Income Per Common Share: | ||||
Basic (in dollars per share) | $ 1.35 | $ 0.93 | $ 3.53 | $ 2.83 |
Diluted (in dollars per share) | 1.35 | 0.93 | 3.52 | 2.82 |
Cash dividends paid per common share (in dollars per share) | $ 0.34 | $ 0.31 | $ 1.02 | $ 0.93 |
Average Common Shares Outstanding: | ||||
Basic (in shares) | 73,158,096 | 77,846,424 | 74,475,032 | 78,841,899 |
Diluted (in shares) | 73,444,096 | 78,153,408 | 74,799,324 | 79,128,644 |
Deposit Account [Member] | ||||
Non-Interest Income | ||||
Non-Interest Income | $ 1,690 | $ 1,401 | $ 4,993 | $ 4,107 |
Asset Management [Member] | ||||
Non-Interest Income | ||||
Non-Interest Income | $ 4,184 | $ 3,578 | $ 12,494 | $ 11,074 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | 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, 2020 | 79,508,265 | |||||||||||
Beginning balance, loss, net of tax (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2020 | $ 0 | $ 0 | $ 0 | $ (3,139) | $ 0 | $ (3,139) | ||||||
Beginning balance, loss, net of tax at Dec. 31, 2020 | $ 906 | $ 964,734 | $ 5,310 | $ 1,789,325 | $ (342,131) | $ 2,418,144 | ||||||
Dividend Reinvestment Plan (in shares) | 62,326 | |||||||||||
Dividend Reinvestment Plan | $ 1 | 2,618 | 0 | 0 | 0 | 2,619 | ||||||
Restricted stock units vested (in shares) | 123,893 | |||||||||||
Restricted stock units vested | $ 1 | 0 | 0 | 0 | 0 | 1 | ||||||
Shares withheld related to net share settlement of RSUs | $ 0 | (2,632) | 0 | 0 | 0 | (2,632) | ||||||
Purchases of treasury stock (in shares) | (2,475,019) | |||||||||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (100,668) | (100,668) | ||||||
Stock-based compensation | 0 | 4,149 | 0 | 0 | 0 | 4,149 | ||||||
Cash dividends | 0 | 0 | 0 | (73,335) | 0 | (73,335) | ||||||
Other comprehensive income (loss) | 0 | 0 | (5,678) | 0 | 0 | (5,678) | ||||||
Net income | 0 | 0 | 0 | 222,980 | 0 | 222,980 | ||||||
Stock issued to directors | $ 0 | 850 | 0 | 0 | 0 | 850 | ||||||
Balance (in shares) at Sep. 30, 2021 | 77,240,215 | |||||||||||
Ending balance, loss, net of tax at Sep. 30, 2021 | $ 908 | 969,719 | (368) | 1,935,831 | (442,799) | 2,463,291 | ||||||
Balance (in shares) at Jun. 30, 2021 | 78,158,590 | |||||||||||
Beginning balance, loss, net of tax at Jun. 30, 2021 | $ 908 | 967,166 | 2,372 | 1,887,571 | (405,660) | 2,452,357 | ||||||
Dividend Reinvestment Plan (in shares) | 22,267 | |||||||||||
Dividend Reinvestment Plan | $ 0 | 894 | 0 | 0 | 0 | 894 | ||||||
Restricted stock units vested (in shares) | 1,971 | |||||||||||
Restricted stock units vested | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Shares withheld related to net share settlement of RSUs | $ 0 | (38) | 0 | 0 | 0 | (38) | ||||||
Purchases of treasury stock (in shares) | (942,613) | |||||||||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (37,139) | (37,139) | ||||||
Stock-based compensation | 0 | 1,697 | 0 | 0 | 0 | 1,697 | ||||||
Cash dividends | 0 | 0 | 0 | (24,137) | 0 | (24,137) | ||||||
Other comprehensive income (loss) | 0 | 0 | (2,740) | 0 | 0 | (2,740) | ||||||
Net income | $ 0 | 0 | 0 | 72,397 | 0 | 72,397 | ||||||
Balance (in shares) at Sep. 30, 2021 | 77,240,215 | |||||||||||
Ending balance, loss, net of tax at Sep. 30, 2021 | $ 908 | 969,719 | (368) | 1,935,831 | (442,799) | 2,463,291 | ||||||
Balance (in shares) at Dec. 31, 2021 | 75,750,862 | |||||||||||
Beginning balance, loss, net of tax at Dec. 31, 2021 | $ 909 | 972,474 | (3,065) | 1,985,168 | (509,235) | 2,446,251 | ||||||
Dividend Reinvestment Plan (in shares) | 65,142 | |||||||||||
Dividend Reinvestment Plan | $ 1 | 2,791 | 0 | 0 | 0 | 2,792 | ||||||
Restricted stock units vested (in shares) | 110,641 | |||||||||||
Restricted stock units vested | $ 1 | 0 | 0 | 0 | 0 | 1 | ||||||
Shares withheld related to net share settlement of RSUs | $ 0 | (2,864) | 0 | 0 | 0 | (2,864) | ||||||
Purchases of treasury stock (in shares) | (2,534,465) | |||||||||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (109,774) | (109,774) | ||||||
Stock-based compensation | 0 | 5,183 | 0 | 0 | 0 | 5,183 | ||||||
Cash dividends | 0 | 0 | 0 | (76,111) | 0 | (76,111) | ||||||
Other comprehensive income (loss) | 0 | 0 | (109,809) | 0 | 0 | (109,809) | ||||||
Net income | $ 0 | 0 | 0 | 263,041 | 0 | 263,041 | ||||||
Stock issued to directors (in shares) | 19,780 | |||||||||||
Stock issued to directors | $ 0 | 849 | 0 | 0 | 0 | 849 | ||||||
Balance (in shares) at Sep. 30, 2022 | 73,411,960 | |||||||||||
Ending balance, loss, net of tax at Sep. 30, 2022 | $ 911 | 978,433 | (112,874) | 2,172,098 | (619,009) | 2,419,559 | ||||||
Balance (in shares) at Jun. 30, 2022 | 74,421,884 | |||||||||||
Beginning balance, loss, net of tax at Jun. 30, 2022 | $ 910 | 976,547 | (71,328) | 2,098,122 | (572,719) | 2,431,532 | ||||||
Dividend Reinvestment Plan (in shares) | 21,880 | |||||||||||
Dividend Reinvestment Plan | $ 1 | 919 | 0 | 0 | 0 | 920 | ||||||
Restricted stock units vested (in shares) | 47,736 | |||||||||||
Restricted stock units vested | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Shares withheld related to net share settlement of RSUs | $ 0 | (849) | 0 | 0 | 0 | $ (849) | ||||||
Purchases of treasury stock (in shares) | (1,079,540) | (1,080,000) | ||||||||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (46,290) | $ (46,290) | ||||||
Stock-based compensation | 0 | 1,816 | 0 | 0 | 0 | 1,816 | ||||||
Cash dividends | 0 | 0 | 0 | (25,059) | 0 | (25,059) | ||||||
Other comprehensive income (loss) | 0 | 0 | (41,546) | 0 | 0 | (41,546) | ||||||
Net income | $ 0 | 0 | 0 | 99,035 | 0 | 99,035 | ||||||
Balance (in shares) at Sep. 30, 2022 | 73,411,960 | |||||||||||
Ending balance, loss, net of tax at Sep. 30, 2022 | $ 911 | $ 978,433 | $ (112,874) | $ 2,172,098 | $ (619,009) | $ 2,419,559 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Retained Earnings [Member] | ||||
Cash dividends (in dollars per share) | $ 0.34 | $ 0.31 | $ 1.02 | $ 0.93 |
Cash dividends (in dollars per share) | $ 0.34 | $ 0.31 | $ 1.02 | $ 0.93 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Cash Flows from Operating Activities | |||||
Net income | $ 99,035 | $ 72,397 | $ 263,041 | $ 222,980 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Provision/(reversal) for credit losses | 2,000 | 3,050 | 13,143 | (19,508) | |
Provision for losses on other real estate owned | 0 | (8) | |||
Deferred tax (benefit)/provision | (713) | 8,867 | |||
Depreciation and amortization | 6,847 | 5,942 | |||
Amortization of right-of-use asset | 7,446 | 5,972 | |||
Change in operating lease liabilities | (3,216) | (1,456) | |||
Net gains on sale and transfer of other real estate owned | (6) | (120) | |||
Net gains on sale of loans | (1) | (357) | |||
Proceeds from sales of loans | 33 | 5,351 | |||
Originations of loans held for sale | 0 | (4,994) | |||
Loss on sales or disposal of fixed assets | 46 | 55 | |||
Amortization on alternative energy partnerships, venture capital and other investments | 27,471 | 31,610 | |||
Net gain on sales and calls of securities | (101) | (853) | |||
Amortization/accretion of security premiums/discounts, net | 2,875 | 6,128 | |||
Unrealized (gain)/loss on equity securities | 3,700 | (3,000) | (1,257) | 3,628 | |
Stock-based compensation and stock issued to officers as compensation | 6,032 | 4,999 | |||
Net change in accrued interest receivable and other assets | (77,012) | (21,607) | |||
Net change in other liabilities | 125,345 | (9,082) | |||
Net cash provided by operating activities | 369,973 | 237,547 | |||
Cash Flows from Investing Activities | |||||
Purchase of investment securities available-for-sale | (583,992) | (406,750) | |||
Proceeds from repayments, maturities and calls of investment securities available-for-sale | 130,673 | 326,527 | |||
Proceeds from sale of investment securities available-for-sale | 553 | 21,102 | |||
Net increase in loans | (1,122,519) | (349,924) | |||
Purchase of premises and equipment | (3,093) | (2,828) | |||
Benefits received from bank owned life insurance policies | 0 | 2,752 | |||
Proceeds from sales of other real estate owned | 307 | 0 | |||
Net increase in investment in affordable housing and alternative energy partnerships | (107) | (19,039) | |||
Acquisition, net of cash acquired | (73,882) | 0 | |||
Net cash used for investing activities | (1,652,060) | (428,160) | |||
Cash Flows from Financing Activities | |||||
Net (decrease)/increase in deposits | (58,316) | 897,713 | |||
Advances from Federal Home Loan Bank | 340,000 | 50,000 | |||
Repayment of Federal Home Loan Bank borrowings | 0 | (180,000) | |||
Cash dividends paid | (76,111) | (73,335) | |||
Purchases of treasury stock | (109,774) | (100,668) | |||
Proceeds from shares issued under Dividend Reinvestment Plan | 2,793 | 2,619 | |||
Taxes paid related to net share settlement of RSUs | (2,864) | (2,632) | |||
Net cash provided by financing activities | 95,728 | 593,697 | |||
(Decrease)/Increase in cash, cash equivalents, and restricted cash | (1,186,359) | 403,084 | |||
Cash, cash equivalents, and restricted cash, beginning of the period | 2,449,704 | 1,421,078 | $ 1,421,078 | ||
Cash, cash equivalents, and restricted cash, end of the period | $ 1,263,345 | $ 1,824,162 | 1,263,345 | 1,824,162 | $ 2,449,704 |
Supplemental disclosure of cash flow information | |||||
Interest | 52,147 | 61,574 | |||
Income taxes paid | 59,981 | 65,291 | |||
Non-cash investing and financing activities: | |||||
Net change in unrealized holding loss on securities available-for-sale, net of tax | (115,612) | (7,872) | |||
Net change in unrealized holding gain on cash flow hedge derivatives | 5,803 | 2,194 | |||
Loans transferred from held-for-investment to held-for-sale | 32 | 0 | |||
Transfers to other real estate owned from loans held for investment | $ 0 | $ 205 |
Note 1 - Business
Note 1 - Business | 9 Months Ended |
Sep. 30, 2022 | |
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 limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, and GBC Venture Capital, Inc. Bancorp also owns 100% of the common stock of five 1962 September 30, 2022, not |
Note 2 - Business Combinations
Note 2 - Business Combinations | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 2. The Company’s subsidiary bank, Cathay Bank completed the purchase of HSBC Bank USA, National Association’s West Coast mass retail market consumer banking business and retail business banking business on February 7, 2022. The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of the February 7, 2022 one The fair value of the assets and the liabilities acquired as of February 7, 2022 Balance Sheet (In thousands) Assets: Cash and cash equivalents $ 473 Loans 641,839 Right-of-use assets - operating leases 6,453 Core deposit intangible 3,138 Other 561 Total assets $ 652,464 Liabilities assumed: Deposits $ 575,163 Lease liabilities 6,453 Total liabilities assumed $ 581,616 Net assets acquired $ 70,848 Total cash paid at closing $ 74,355 Goodwill $ 3,507 |
Note 3 - Basis of Presentation
Note 3 - Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 3. 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, 2022. 10 December 31, 2021 February 28, 2022 ( “2021 10 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 estimate subject to change is the allowance for loan losses. For comparability, the Company has adjusted consolidated prior period amounts to conform to the current periods presentation. |
Note 4 - Recent Accounting Pron
Note 4 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 4. In March 2020, No. 2020 04, 848 No. 2020 04 March 12, 2020, December 31, 2022. December 31, 2022. January 2021, 2021 01 848 may 2020 04 2021 01 January 1, 2021. not In March 2022, 2022 01, 815 not 2022 01 one 2022 01 2022 01 January 1, 2023 2022 01 not In March 2022, 2022 02, 326 2022 02 310 40, 2022 02 326 20, 2022 02 January 1, 2023 2022 02 not In June 2022, 2022 03, 820 2022 03 not not 2022 03 2022 03 January 1, 2024 2022 03 not |
Note 5 - Cash, Cash Equivalents
Note 5 - Cash, Cash Equivalents and Restricted Cash | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 5. 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 had average excess balance with Federal Reserve Bank of $1.3 billion for the nine September 30, 2022 December 31, 2021. September 30, 2022 December 31, 2021, September 30, 2022 December 31, 2021, September 30, 2022 December 31, 2021, |
Note 6 - Earnings Per Share
Note 6 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 6. 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 common 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 September 30, Nine months ended September 30, 2022 2021 2022 2021 (In thousands, except share and per share data) Net income $ 99,035 $ 72,397 $ 263,041 $ 222,980 Weighted-average shares: Basic weighted-average number of common shares outstanding 73,158,096 77,846,424 74,475,032 78,841,899 Dilutive effect of weighted-average outstanding common share equivalents: RSUs 286,000 306,984 324,292 286,745 Diluted weighted-average number of common shares outstanding 73,444,096 78,153,408 74,799,324 79,128,644 Average restricted stock units with anti-dilutive effect — 884 — 30,130 Earnings per common share: Basic $ 1.35 $ 0.93 $ 3.53 $ 2.83 Diluted $ 1.35 $ 0.93 $ 3.52 $ 2.82 |
Note 7 - Stock-based Compensati
Note 7 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 7. 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 and to a maximum of 150% of the target. The amount of performance-based RSUs that are eligible to vest is determined at the end of each performance period and is then added together to determine the total number of performance shares that are eligible to vest. Performance-based RSUs generally cliff vest 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 nine September 30, 2022: Time-Based RSUs Performance-Based RSUs Weighted-Average Weighted-Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at December 31, 2021 235,944 $ 32.38 332,506 $ 31.82 Granted 65,389 46.85 112,393 40.24 Vested (87,554 ) 40.89 (81,934 ) 44.52 Forfeited (11,182 ) 33.31 — — Balance at September 30, 2022 202,597 $ 33.32 362,965 $ 31.56 The compensation expense recorded for RSUs was $1.8 million and $1.7 million for the three September 30, 2022, 2021, nine September 30, 2022 2021, September 30, 2022 2021, September 30, 2022, As of September 30, 2022, 2005 |
Note 8 - Investment Securities
Note 8 - Investment Securities | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 8. The following tables set forth the amortized cost, gross unrealized gains, gross unrealized losses, and fair value of securities available-for-sale as of September 30, 2022, December 31, 2021: September 30, 2022 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 242,510 $ — $ 1,110 $ 241,400 U.S. government agency entities 68,712 526 126 69,112 Mortgage-backed securities 1,001,832 58 140,402 861,488 Collateralized mortgage obligations 35,378 — 3,669 31,709 Corporate debt securities 228,879 — 18,177 210,702 Total $ 1,577,311 $ 584 $ 163,484 $ 1,414,411 December 31, 2021 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. government agency entities $ 86,475 $ 1,169 $ 135 $ 87,509 Mortgage-backed securities 886,614 9,465 7,414 888,665 Collateralized mortgage obligations 9,547 — 430 9,117 Corporate debt securities 144,231 441 2,654 142,018 Total $ 1,126,867 $ 11,075 $ 10,633 $ 1,127,309 As of September 30, 2022, see Note 1 Summary of Significant Accounting Policies Securities Available for Sale Allowance for Credit Losses on Available for Sale Securities 2021 10 The amortized cost and fair value of securities available-for-sale as of September 30, 2022, may may September 30, 2022 Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 282,514 $ 280,897 Due after one year through five years 176,541 159,389 Due after five years through ten years 147,198 138,428 Due after ten years 971,058 835,697 Total $ 1,577,311 $ 1,414,411 Equity Securities three September 30, 2022, three September 30, 2021. nine September 30, 2022 nine September 30, 2021. September 30, 2022, December 31, 2021, 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 September 30, 2022, December 31, 2021: September 30, 2022 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 $ 241,400 $ 1,110 $ — $ — $ 241,400 $ 1,110 U.S. government agency entities — — 2,155 126 2,155 126 Mortgage-backed securities 551,053 69,037 309,737 71,365 860,790 140,402 Collateralized mortgage obligations 24,901 1,794 6,809 1,875 31,710 3,669 Corporate debt securities 118,913 4,364 91,790 13,813 210,703 18,177 Total $ 936,267 $ 76,305 $ 410,491 $ 87,179 $ 1,346,758 $ 163,484 December 31, 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 $ — $ — $ 2,337 $ 135 $ 2,337 $ 135 Mortgage-backed securities 527,276 6,659 6,496 755 533,772 7,414 Collateralized mortgage obligations 8,989 417 128 13 9,117 430 Corporate debt securities 103,720 2,122 19,468 532 123,188 2,654 Total $ 639,985 $ 9,198 $ 28,429 $ 1,435 $ 668,414 $ 10,633 As of September 30, 2022, no December 31, 2021, no Allowance for Credit Losses The securities that were in an unrealized loss position at September 30, 2022, see Note 1 Summary of Significant Accounting Policies - Allowance for Credit Losses on Available for Sale Securities 2021 10 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 September 30, 2022, three nine September 30, 2022. three nine September 30, 2021, Securities available-for-sale having a carrying value of $144.3 million and $30.5 million as of September 30, 2022, December 31, 2021, |
Note 9 - Loans
Note 9 - Loans | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 9. 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 September 30, 2022 December 31, 2021, September 30, 2022 December 31, 2021 (In thousands) Commercial loans $ 3,367,437 $ 2,982,399 Real estate construction loans 573,421 611,031 Commercial mortgage loans 8,677,733 8,143,272 Residential mortgage loans 5,130,650 4,182,006 Equity lines 350,448 419,487 Installment and other loans 7,114 4,284 Gross loans $ 18,106,803 $ 16,342,479 Allowance for loan losses (148,817 ) (136,157 ) Unamortized deferred loan fees, net (6,936 ) (4,321 ) Total loans, net $ 17,951,050 $ 16,202,001 As of September 30, 2022, December 31, 2021, September 30, 2022 December 31, 2021. The following tables present the average recorded investment and interest income recognized on non-accrual loans for the period indicated: Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 26,809 $ — $ 28,691 $ — Commercial mortgage loans 18,861 191 28,878 508 Residential mortgage loans and equity lines 16,743 7 14,838 20 Installment and other loans 61 — 35 — Total non-accrual loans $ 62,474 $ 198 $ 72,442 $ 528 Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 16,379 $ — $ 22,989 $ — Real estate construction loans 4,548 50 4,310 220 Commercial mortgage loans 37,017 140 37,964 297 Residential mortgage loans and equity lines 9,831 7 8,976 23 Total non-accrual loans $ 67,775 $ 197 $ 74,239 $ 540 The following table presents non-accrual loans and the related allowance as of September 30, 2022 December 31, 2021: September 30, 2022 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 10,171 $ 6,887 $ — Commercial mortgage loans 14,148 10,956 — Residential mortgage loans and equity lines 5,582 5,407 — Installment and other loans 10 9 — Subtotal $ 29,911 $ 23,259 $ — With allocated allowance Commercial loans $ 32,426 $ 19,717 $ 4,013 Commercial mortgage loans 16,002 15,955 2,146 Residential mortgage loans and equity lines 9,951 9,194 39 Subtotal $ 58,379 $ 44,866 $ 6,198 Total non-accrual loans $ 88,290 $ 68,125 $ 6,198 December 31, 2021 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 15,879 $ 11,342 $ — Commercial mortgage loans 24,437 21,209 — Residential mortgage loans and equity lines 6,020 5,850 — Subtotal $ 46,336 $ 38,401 $ — With allocated allowance Commercial loans $ 14,294 $ 5,217 $ 894 Commercial mortgage loans 17,930 16,964 3,631 Residential mortgage loans and equity lines 6,048 5,264 22 Subtotal $ 38,272 $ 27,445 $ 4,547 Total non-accrual loans $ 84,608 $ 65,846 $ 4,547 The following tables present the aging of the loan portfolio by type as of September 30, 2022, December 31, 2021: September 30, 2022 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) Type of Loans: Commercial loans $ 7,223 $ 3,151 $ 1,112 $ 26,604 $ 38,090 $ 3,329,347 $ 3,367,437 Real estate construction loans — — — — — 573,421 573,421 Commercial mortgage loans — 1,107 2,060 26,911 30,078 8,647,655 8,677,733 Residential mortgage loans and equity lines 3,383 4,690 — 14,601 22,674 5,458,424 5,481,098 Installment and other loans 35 — — 9 44 7,070 7,114 Total loans $ 10,641 $ 8,948 $ 3,172 $ 68,125 $ 90,886 $ 18,015,917 $ 18,106,803 December 31, 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) Type of Loans: Commercial loans $ 4,294 $ 9,877 $ 1,439 $ 16,558 $ 32,168 $ 2,950,231 $ 2,982,399 Real estate construction loans — — — — — 611,031 611,031 Commercial mortgage loans 8,389 — — 38,173 46,562 8,096,710 8,143,272 Residential mortgage loans and equity lines 20,129 3,138 — 11,115 34,382 4,567,111 4,601,493 Installment and other loans — — — — — 4,284 4,284 Total loans $ 32,812 $ 13,015 $ 1,439 $ 65,846 $ 113,112 $ 16,229,367 $ 16,342,479 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 Company establishes a specific reserve for individually evaluated loans that do not Note 1 Summary of Significant Accounting Policies 2021 10 Although the Company took steps to incorporate the impact of the COVID- 19 As of September 30, 2022, December 31, 2021. September 30, 2022, seven thousand three thousand December 31, 2021. The following tables set forth TDRs that were modified during the three nine September 30, 2022 2021, September 30, 2022, 2021, three six September 30, 2022, 2021: Three Months Ended September 30, 2022 September 30, 2022 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial mortgage loans 2 $ 2,572 $ 2,572 $ — $ — Residential mortgage loans and equity lines 4 1,466 1,442 — — Total 6 $ 4,038 $ 4,014 $ — $ — Three Months Ended September 30, 2021 September 30, 2021 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Residential mortgage loans and equity lines 1 $ 479 $ 479 $ — $ 14 Total 1 $ 479 $ 479 $ — $ 14 Nine Months Ended September 30, 2022 September 30, 2022 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 4 $ 6,115 $ 6,115 $ — $ 2,566 Commercial mortgage loans 2 2,572 2,572 Residential mortgage loans and equity lines 8 2,190 2,162 — 4 Total 14 $ 10,877 $ 10,849 $ — $ 2,570 Nine Months Ended September 30, 2021 September 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 $ — $ — Residential mortgage loans and equity lines 1 479 479 — 14 Total 2 $ 1,165 $ 1,165 $ — $ 14 Modifications of the loan terms in the three nine September 30, 2022, three twelve We expect that the TDRs on accruing status as of September 30, 2022, A summary of TDRs by type of concession and by type of loan, as of September 30, 2022, December 31, 2021, September 30, 2022 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 2,643 $ — $ — $ 2,643 Commercial mortgage loans 2,734 — 5,874 8,608 Residential mortgage loans 2,198 459 1,300 3,957 Total accruing TDRs $ 7,575 $ 459 $ 7,174 $ 15,208 September 30, 2022 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 4,805 $ — $ — $ 4,805 Residential mortgage loans 1,635 — — 1,635 Total non-accrual TDRs $ 6,440 $ — $ — $ 6,440 December 31, 2021 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 3,368 $ — $ — $ 3,368 Commercial mortgage loans 438 5,522 168 6,128 Residential mortgage loans 1,464 249 1,628 3,341 Total accruing TDRs $ 5,270 $ 5,771 $ 1,796 $ 12,837 December 31, 2021 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 7,717 $ — $ — $ 7,717 Residential mortgage loans 458 — — 458 Total non-accrual TDRs $ 8,175 $ — $ — $ 8,175 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 September 30, 2022. 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 September 30, 2022, 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 – not may ● Substandard – may not not ● Doubtful – may ● Loss – no The following table summarizes the Company’s loan held for investment as of September 30, 2022 December 31, 2021, Loans Amortized Cost Basis by Origination Year September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 440,389 $ 487,748 $ 201,540 $ 127,595 $ 115,076 $ 131,652 $ 1,749,754 $ 6,429 $ 3,260,183 Special Mention 1,212 4,494 2,869 72 2,697 11,418 22,703 250 45,715 Substandard — 12,324 4,973 6,511 2,852 5,226 25,278 38 57,202 Doubtful — — — 1,088 2,185 — 232 — 3,505 Total $ 441,601 $ 504,566 $ 209,382 $ 135,266 $ 122,810 $ 148,296 $ 1,797,967 $ 6,717 $ 3,366,605 YTD period charge-offs $ — $ 134 $ 169 $ 71 $ 1,786 $ — $ 202 $ — $ 2,362 YTD period recoveries (7 ) — (31 ) — (164 ) (202 ) (1,705 ) — (2,109 ) Net charge-offs/(recoveries) $ (7 ) $ 134 $ 138 $ 71 $ 1,622 $ (202 ) $ (1,503 ) $ — $ 253 Real estate construction loans Pass/Watch $ 80,633 $ 271,855 $ 114,015 $ 58,922 $ 24,650 $ — $ — $ — $ 550,075 Special Mention — — 8,579 — — — — — 8,579 Substandard — — — 2,005 9,352 — — — 11,357 Total $ 80,633 $ 271,855 $ 122,594 $ 60,927 $ 34,002 $ — $ — $ — $ 570,011 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — (6 ) — — (6 ) Net charge-offs/(recoveries) $ — $ — $ — $ — $ — $ (6 ) $ — $ — $ (6 ) Commercial mortgage loans Pass/Watch $ 1,597,328 $ 1,781,573 $ 1,084,550 $ 1,124,054 $ 941,945 $ 1,573,895 $ 179,343 $ — $ 8,282,688 Special Mention 43,636 51,488 25,686 42,685 18,952 63,473 1,300 — 247,220 Substandard — 7,269 1,744 12,383 31,933 86,222 3,371 — 142,922 Total $ 1,640,964 $ 1,840,330 $ 1,111,980 $ 1,179,122 $ 992,830 $ 1,723,590 $ 184,014 $ — $ 8,672,830 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — (180 ) — (7 ) (83 ) — (270 ) Net charge-offs/(recoveries) $ — $ — $ — $ (180 ) $ — $ (7 ) $ (83 ) $ — $ (270 ) Residential mortgage loans Pass/Watch $ 995,736 $ 976,137 $ 595,493 $ 610,410 $ 433,398 $ 1,495,370 $ — $ — $ 5,106,544 Special Mention — — 33 1,552 755 911 — — 3,251 Substandard 8 1,108 2,343 4,897 3,248 10,439 — — 22,043 Total $ 995,744 $ 977,245 $ 597,869 $ 616,859 $ 437,401 $ 1,506,720 $ — $ — $ 5,131,838 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ 58 $ — $ 58 YTD period recoveries — — — — — (45 ) — — (45 ) Net charge-offs/(recoveries) $ — $ — $ — $ — $ — $ (45 ) $ 58 $ — $ 13 Equity lines Pass/Watch $ 878 $ — $ — $ — $ — $ — $ 325,751 $ 23,229 $ 349,858 Special Mention 28 — — — — — — — 28 Substandard 18 — — — — — 2,251 236 2,505 Total $ 924 $ — $ — $ — $ — $ — $ 328,002 $ 23,465 $ 352,391 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — (8 ) (12 ) (20 ) Net charge-offs/(recoveries) $ — $ — $ — $ — $ — $ — $ (8 ) $ (12 ) $ (20 ) Installment and other loans Pass/Watch $ 1,246 $ 4,848 $ 98 $ — $ — $ — $ — $ — $ 6,192 Total $ 1,246 $ 4,848 $ 98 $ — $ — $ — $ — $ — $ 6,192 YTD period charge-offs $ 80 $ — $ — $ — $ — $ — $ — $ — $ 80 YTD period recoveries (1 ) — — — — — — — (1 ) Net charge-offs/(recoveries) $ 79 $ — $ — $ — $ — $ — $ — $ — $ 79 Total loans $ 3,161,112 $ 3,598,844 $ 2,041,923 $ 1,992,174 $ 1,587,043 $ 3,378,606 $ 2,309,983 $ 30,182 $ 18,099,867 Net charge-offs/(recoveries) $ 72 $ 134 $ 138 $ (109 ) $ 1,622 $ (260 ) $ (1,536 ) $ (12 ) $ 49 Loans Amortized Cost Basis by Origination Year December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 606,770 $ 268,756 $ 183,468 $ 142,419 $ 80,701 $ 100,496 $ 1,437,463 $ 7,433 $ 2,827,506 Special Mention 395 780 1,138 1,645 3,157 — 40,761 49 47,925 Substandard 450 5,879 22,513 16,423 14,309 5,221 34,713 5,716 105,224 Doubtful — — — — — — 900 — 900 Total $ 607,615 $ 275,415 $ 207,119 $ 160,487 $ 98,167 $ 105,717 $ 1,513,837 $ 13,198 $ 2,981,555 YTD period charge-offs $ — $ 1,478 $ 507 $ 366 $ — $ 50 $ 17,650 $ — $ 20,051 YTD period recoveries — (1 ) (29 ) (124 ) — (191 ) (1,361 ) — (1,706 ) Net $ — $ 1,477 $ 478 $ 242 $ — $ (141 ) $ 16,289 $ — $ 18,345 Real estate construction loans Pass/Watch $ 199,188 $ 188,782 $ 125,316 $ 24,548 $ — $ — $ — $ — $ 537,834 Special Mention — 23,107 27,672 17,374 — — — — 68,153 Substandard — — 1,919 — — — — — 1,919 Total $ 199,188 $ 211,889 $ 154,907 $ 41,922 $ — $ — $ — $ — $ 607,906 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — (76 ) — — (76 ) Net $ — $ — $ — $ — $ — $ (76 ) $ — $ — $ (76 ) Commercial mortgage loans Pass/Watch $ 1,893,807 $ 1,201,825 $ 1,253,548 $ 1,031,191 $ 727,916 $ 1,313,882 $ 198,869 $ — $ 7,621,038 Special Mention 45,719 59,182 49,796 103,101 61,105 60,448 750 — 380,101 Substandard 1,110 — 13,483 42,803 1,580 76,906 3,297 — 139,179 Total $ 1,940,636 $ 1,261,007 $ 1,316,827 $ 1,177,095 $ 790,601 $ 1,451,236 $ 202,916 $ — $ 8,140,318 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — (240 ) — — (28 ) (111 ) — (379 ) Net $ — $ — $ (240 ) $ — $ — $ (28 ) $ (111 ) $ — $ (379 ) Residential mortgage loans Pass/Watch $ 978,375 $ 622,999 $ 678,775 $ 502,325 $ 453,992 $ 929,846 $ — $ — $ 4,166,312 Special Mention — 46 1,576 1,064 836 438 — — 3,960 Substandard 1,684 147 2,698 2,574 862 5,255 — — 13,220 Total $ 980,059 $ 623,192 $ 683,049 $ 505,963 $ 455,690 $ 935,539 $ — $ — $ 4,183,492 YTD period charge-offs $ — $ — $ — $ — $ 3 $ — $ — $ — $ 3 YTD period recoveries — — — — — (208 ) — — (208 ) Net $ — $ — $ — $ — $ 3 $ (208 ) $ — $ — $ (205 ) Equity lines Pass/Watch $ — $ — $ — $ — $ — $ 5 $ 389,069 $ 30,025 $ 419,099 Substandard — — — — — — 1,230 273 1,503 Total $ — $ — $ — $ — $ — $ 5 $ 390,299 $ 30,298 $ 420,602 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — (10 ) (64 ) (74 ) Net $ — $ — $ — $ — $ — $ — $ (10 ) $ (64 ) $ (74 ) Installment and other loans Pass/Watch $ 4,117 $ 168 $ — $ — $ — $ — $ — $ — $ 4,285 Total $ 4,117 $ 168 $ — $ — $ — $ — $ — $ — $ 4,285 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Total loans $ 3,731,615 $ 2,371,671 $ 2,361,902 $ 1,885,467 $ 1,344,458 $ 2,492,497 $ 2,107,052 $ 43,496 $ 16,338,158 Net charge-offs/(recoveries) $ — $ 1,477 $ 238 $ 242 $ 3 $ (453 ) $ 16,168 $ (64 ) $ 17,611 Revolving loans that are converted to term loans presented in the table above are excluded from the term loans by vintage year columns. Allowance for Credit Losses The Company has an allowance framework under ASU 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 Company’s 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 Quantitative Factors Under the Company’s CECL methodology, nine three six six fourth 2007 first 2022. fourth 2007 third 2022. 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 Qualitative Factors 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 Company’s 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 ● 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 CECL 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 When a loan no one three 1 2 3 not Unfunded Loan Commitments Unfunded loan commitments are generally related to providing credit facilities to clients of the Bank and are not 10 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 a three The following tables set forth activity in the allowance for loan losses by portfolio segment for the three nine September 30, 2022, September 30, 2021. Three months ended September 30, 2022 and 2021 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total Allowance for Loan Losses: (In thousands) June 30, 2022 Ending Balance $ 49,069 $ 7,276 $ 68,600 $ 23,692 $ 135 $ 148,772 Provision/(reversal) for possible credit losses 1,845 (1,065 ) 1,362 (1,612 ) 72 602 Charge-offs (2,091 ) — — (58 ) (79 ) (2,228 ) Recoveries 1,576 — 88 7 — 1,671 Net (charge-offs)/recoveries (515 ) — 88 (51 ) (79 ) (557 ) September 30, 2022 Ending Balance $ 50,399 $ 6,211 $ 70,050 $ 22,029 $ 128 $ 148,817 Allowance for unfunded credit commitments: June 30, 2022 Ending Balance $ 2,804 $ 3,306 $ 26 $ — $ — $ 6,136 Provision/(reversal) for possible credit losses 1,576 (152 ) (26 ) — — 1,398 September 30, 2022 Ending Balance $ 4,380 $ 3,154 $ — $ — $ — $ 7,534 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total Allowance for Loan Losses: (In thousands) June 30, 2021 Ending Balance $ 40,067 $ 6,119 $ 58,026 $ 27,043 $ 1 $ 131,256 Provision/(reversal) for possible credit losses 674 149 2,786 (609 ) — 3,000 Charge-offs (2,649 ) — — (3 ) — (2,652 ) Recoveries 121 76 144 — — 341 Net (charge-offs)/recoveries (2,528 ) 76 144 (3 ) — (2,311 ) September 30, 2021 Ending Balance $ 38,213 $ 6,344 $ 60,956 $ 26,431 $ 1 $ 131,945 Allowance for unfunded credit commitments: June 30, 2021 Ending Balance $ 4,388 $ 3,581 $ 81 $ — $ — $ 8,050 Provision/(reversal) for possible credit losses 329 (396 ) 117 — — 50 September 30, 2021 Ending Balance $ 4,717 $ 3,185 $ 198 $ — $ — $ 8,100 Nine months ended September 30, 2022 and 2021 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total Allowance for Loan Losses: (In thousands) December 31, 2021 Ending Balance $ 43,394 $ 6,302 $ 61,081 $ 25,379 $ 1 $ 136,157 Provision/(reversal) for possible credit losses 7,258 (97 ) 8,699 (3,357 ) 206 12,709 Charge-offs (2,362 ) — — (58 ) (80 ) (2,500 ) Recoveries 2,109 6 270 65 1 2,451 Net (charge-offs)/recoveries (253 ) 6 270 7 (79 ) (49 ) September 30, 2022 Ending Balance $ 50,399 $ 6,211 $ 70,050 $ 22,029 $ 128 $ 148,817 Allowance for unfunded credit commitments: December 31, 2021 Ending Balance $ 3,725 $ 3,375 $ — $ — $ — $ 7,100 Provision/(reversal) for possible credit losses 655 (221 ) — — — 434 September 30, 2022 Ending Balance $ 4,380 $ 3,154 $ — $ — $ — $ 7,534 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total Allowance for Loan Losses: (In thousands) December 31, 2020 Ending 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 ) January 1, 2021 Beginning Balance 37,276 6,547 84,198 36,948 9 164,978 Provision/(reversal) for possible credit losses 18,891 (279 ) (23,526 ) (10,788 ) (8 ) (15,710 ) Charge-offs (19,499 ) — — (3 ) — (19,502 ) Recoveries 1,545 76 284 274 — 2,179 Net (charge-offs)/recoveries (17,954 ) 76 284 271 — (17,323 ) September 30, 2021 Ending Balance $ 38,213 $ 6,344 $ 60,956 $ 26,431 $ 1 $ 131,945 Allowance for unfunded credit commitments: December 31, 2020 Ending Balance $ 4,802 $ 690 $ 101 $ 284 $ 3 $ 5,880 Impact of ASU 2016-13 adoption 3,236 3,135 (66 ) (284 ) (3 ) 6,018 January 1, 2021 Beginning Balance 8,038 3,825 35 — — 11,898 Provision/(reversal) for possible credit losses (3,321 ) (640 ) 163 — — (3,798 ) September 30, 2021 Ending Balance $ 4,717 $ 3,185 $ 198 $ — $ — $ 8,100 |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 10. 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 $152.2 million and $107.7 million as of September 30, 2022, December 31, 2021, |
Note 11 - Borrowed Funds
Note 11 - Borrowed Funds | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. Borrowings from the Federal Home Loan Bank ( FHLB ) September 30, 2022, December 31, 2021. September 30, 2022, December 31, 2021. September 30, 2022, October 2022, May 2023 September 2024. Junior Subordinated Notes three 2003 two 2007 twenty may not, At September 30, 2022, December 31, 2021. |
Note 12 - Income Taxes
Note 12 - Income Taxes | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12. The effective tax rate for the first nine 2022 first nine 2021. The Company’s tax returns are open for audit by the Internal Revenue Service back to 2018 2017. 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 | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022 December 31, 2021: September 30, 2022 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 $ 241,400 $ — $ — $ 241,400 U.S. government agency entities — 69,112 — 69,112 Mortgage-backed securities — 861,488 — 861,488 Collateralized mortgage obligations — 31,709 — 31,709 Corporate debt securities — 210,702 — 210,702 Total securities available-for-sale 241,400 1,173,011 — 1,414,411 Equity securities Mutual funds 5,497 — — 5,497 Preferred stock of government sponsored entities 2,110 — — 2,110 Other equity securities 15,516 — — 15,516 Total equity securities 23,123 — — 23,123 Warrants — — 46 46 Interest rate swaps — 98,498 — 98,498 Foreign exchange contracts — 752 — 752 Total assets $ 264,523 $ 1,272,261 $ 46 $ 1,536,830 Liabilities Interest rate swaps $ — $ 54,443 $ — $ 54,443 Foreign exchange contracts — 2,054 — 2,054 Total liabilities $ — $ 56,497 $ — $ 56,497 December 31, 2021 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. government agency entities $ — $ 87,509 $ — $ 87,509 Mortgage-backed securities — 888,665 — 888,665 Collateralized mortgage obligations — 9,117 — 9,117 Corporate debt securities — 142,018 — 142,018 Total securities available-for-sale — 1,127,309 — 1,127,309 Equity securities Mutual funds 6,230 — — 6,230 Preferred stock of government sponsored entities 1,811 — — 1,811 Other equity securities 14,278 — — 14,278 Total equity securities 22,319 — — 22,319 Warrants — — 23 23 Interest rate swaps — 10,090 — 10,090 Foreign exchange contracts — 1,113 — 1,113 Total assets $ 22,319 $ 1,138,512 $ 23 $ 1,160,854 Liabilities Interest rate swaps $ — $ 12,642 $ — $ 12,642 Foreign exchange contracts — 327 — 327 Total liabilities $ — $ 12,969 $ — $ 12,969 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 September 30, 2022, December 31, 2021, no For financial assets measured at fair value on a nonrecurring basis that were still reflected in the Consolidated Balance Sheets as of September 30, 2022, September 30, 2022, December 31, 2021, As of September 30, 2022 Total Losses Fair Value Measurements Using Total Fair Value For the Three Months Ended For the Nine Months Ended Level 1 Level 2 Level 3 Measurements September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 (In thousands) Assets Non accrual loans by type: Commercial loans $ — $ — $ 6,887 $ 6,887 $ 1,786 $ — $ 1,786 $ 2,037 Commercial mortgage loans — — 10,956 10,956 — — — — Residential mortgage loans and equity lines — — 5,407 5,407 — — — — Other installment loans — — 9 9 — — — — Total non accrual loans — — 23,259 23,259 1,786 — 1,786 2,037 Other real estate owned (1) — — 4,269 4,269 — (55 ) — (8 ) Investments in venture capital — — 836 836 — 8 — 143 Total assets $ — $ — $ 28,364 $ 28,364 $ 1,786 $ (47 ) $ 1,786 $ 2,172 ( 1 As of December 31, 2021 Total Losses Fair Value Measurements Using Total Fair Value For the Twelve Months Ended Level 1 Level 2 Level 3 Measurements December 31, 2021 December 31, 2020 (In thousands) Assets Non accrual loans by type: Commercial loans $ — $ — $ 4,327 $ 4,327 $ 1,012 $ 7,012 Commercial mortgage loans — — 13,335 13,335 — — Residential mortgage loans and equity lines — — 5,243 5,243 — — Total non accrual loans — — 22,905 22,905 1,012 7,012 Other real estate owned (1) — — 4,589 4,589 17 717 Investments in venture capital — — 952 952 143 107 Total assets $ — $ — $ 28,446 $ 28,446 $ 1,172 $ 7,836 ( 1 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 five 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 September 30, 2022, December 31, 2021: September 30, 2022 December 31, 2021 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 200,051 $ 200,051 $ 134,141 $ 134,141 Short-term investments 1,063,294 1,063,294 2,315,563 2,315,563 Securities available-for-sale 1,414,411 1,414,411 1,127,309 1,127,309 Loans, net 17,951,050 17,676,365 16,202,001 16,499,869 Equity securities 23,123 23,123 22,319 22,319 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants 46 46 23 23 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 162,518 $ 752 $ 181,997 $ 1,113 Interest rate swaps 1,464,567 98,498 904,635 10,090 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 18,575,751 $ 18,573,442 $ 18,058,842 $ 18,051,720 Advances from Federal Home Loan Bank 360,000 359,416 20,000 21,279 Other borrowings 22,651 18,357 23,145 18,945 Long-term debt 119,136 56,317 119,136 62,274 Notional Notional Amount Fair Value Amount Fair Value Option contracts $ — $ — $ 676 $ 3 Foreign exchange contracts 45,990 2,054 51,782 327 Interest rate swaps 691,872 54,443 872,400 12,642 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,537,547 $ (14,650 ) $ 3,297,362 $ (12,594 ) Standby letters of credit 290,618 (2,048 ) 266,490 (2,640 ) Other letters of credit 13,070 (12 ) 16,652 (13 ) The following tables set forth the level in the fair value hierarchy for the estimated fair values of financial instruments as of September 30, 2022, December 31, 2021. As of September 30, 2022 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 200,051 $ 200,051 $ — $ — Short-term investments 1,063,294 1,063,294 — — Securities available-for-sale 1,414,411 241,400 1,173,011 — Loans, net 17,676,365 — — 17,676,365 Equity securities 23,123 23,123 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 46 — — 46 Financial Liabilities Deposits 18,573,442 — — 18,573,442 Advances from Federal Home Loan Bank 359,416 — 359,416 — Other borrowings 18,357 — — 18,357 Long-term debt 56,317 — 56,317 — As of December 31, 2021 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 134,141 $ 134,141 $ — $ — Short-term investments 2,315,563 2,315,563 — — Securities available-for-sale 1,127,309 — 1,127,309 — Loans, net 16,499,869 — — 16,499,869 Equity securities 22,319 22,319 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 23 — — 23 Financial Liabilities Deposits 18,051,720 — — 18,051,720 Advances from Federal Home Loan Bank 21,279 — 21,279 — Other borrowings 18,945 — — 18,945 Long-term debt 62,274 — 62,274 — |
Note 14 - Goodwill and Goodwill
Note 14 - Goodwill and Goodwill Impairment | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 14. Total goodwill was $375.7 million as of September 30, 2022 December 31, 2021. February 7, 2022. not |
Note 15 - Financial Derivatives
Note 15 - Financial Derivatives | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022, 2021, not September 30, 2022, December 31, 2021, September 30, 2022 December 31, 2021 Cash flow swap hedges: (In thousands) Notional $ 119,136 $ 119,136 Weighted average fixed rate-pay 2.61 % 2.61 % Weighted average variable rate-receive 2.07 % 0.16 % Unrealized gain/(loss), net of taxes (1) $ 2,527 $ (3,276 ) Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Periodic net settlement of swaps (2) $ 138 $ 754 $ 1,311 $ 2,196 ( 1 ( 2 The Bank entered into interest rate swap contracts that are matched to fixed-rate CRE loans in the Bank’s loan portfolio. These contracts have been designated as hedging instruments to hedge the risk of changes in the fair value of the underlying CRE loans due to changes in interest rates. As of September 30, 2022, three ten September 30, 2022 2021, not The Company has designated as a partial-term hedging election $670.2 million notional as last-of-layer hedge on pools of loans with a notational value of $1.2 billion as of September 30, 2022. not 1 September 30, 2022, 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 September 30, 2022 December 31, 2021. The notional amount and net unrealized loss of the Company’s fair value derivative financial instruments as of September 30, 2022, December 31, 2021, September 30, 2022 December 31, 2021 Fair value swap hedges: (In thousands) Notional $ 877,188 $ 729,280 Weighted average fixed rate-pay 2.14 % 2.65 % Weighted average variable rate spread 0.54 % 1.31 % Weighted average variable rate-receive 1.98 % 1.43 % Unrealized gain/(loss), net of taxes (1) $ 40,465 $ (1,013 ) Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Periodic net settlement of swaps (2) $ 1,461 $ (2,363 ) $ (1,628 ) $ (7,137 ) ( 1 ( 2 The Company 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 The notional amount and fair value of the Company’s derivative financial instruments not September 30, 2022, December 31, 2021, Derivative financial instruments September 30, 2022 December 31, 2021 not designated as hedging instruments: (In thousands) Notional amounts: Option contracts $ - $ 676 Spot, forward, and swap contracts with positive fair value $ 162,518 $ 181,997 Spot, forward, and swap contracts with negative fair value $ 45,990 $ 51,782 Fair value: Option contracts $ - $ 3 Spot, forward, and swap contracts with positive fair value $ 752 $ 1,113 Spot, forward, and swap contracts with negative fair value $ (2,054 ) $ (327 ) |
Note 16 - Balance Sheet Offsett
Note 16 - Balance Sheet Offsetting | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022, December 31, 2021, 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 September 30, 2022 (In thousands) Assets: Derivatives $ 98,498 $ — $ 98,498 $ — $ 95,783 $ 2,715 Liabilities: Derivatives $ 54,443 $ — $ 54,443 $ — $ — $ 54,443 December 31, 2021 Assets: Derivatives $ 10,090 $ — $ 10,090 $ — $ — $ 10,090 Liabilities: Derivatives $ 15,748 $ (3,106 ) $ 12,642 $ — $ — $ 12,642 |
Note 17 - Revenue from Contract
Note 17 - Revenue from Contracts with Customers | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, Nine months Ended September 30, 2022 2021 2022 2021 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts $ 2,398 $ 2,130 $ 7,156 $ 6,386 Wealth management fees 4,184 3,578 12,494 11,074 Other service fees (1) 4,451 3,735 12,723 11,109 Total noninterest income 11,033 9,443 32,373 28,569 Noninterest income, not in-scope (2) (1,157 ) 2,773 12,353 6,230 Total noninterest income $ 9,876 $ 12,216 $ 44,726 $ 34,799 ( 1 ( 2 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 | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 18. ’ Equity Total equity was $2.42 billion as of September 30, 2022, December 31, 2021, Activity in accumulated other comprehensive income/(loss), net of tax, and reclassification out of accumulated other comprehensive income/(loss) for the three nine September 30, 2022, September 30, 2021, Three months ended September 30, 2022 Three months ended September 30, 2021 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax Beginning balance, gain/(loss), net of tax (In thousands) Securities available-for-sale $ (72,210 ) $ 7,560 Cash flow hedge derivatives 882 (5,188 ) Total $ (71,328 ) $ 2,372 Net unrealized gains/(losses) arising during the period Securities available-for-sale $ (61,316 ) $ (18,125 ) $ (43,191 ) $ (4,588 ) $ (1,356 ) $ (3,232 ) Cash flow hedge derivatives 2,677 791 1,886 2,224 657 1,567 Total $ (58,639 ) $ (17,334 ) $ (41,305 ) $ (2,364 ) $ (699 ) $ (1,665 ) Reclassification adjustment for net losses in net income Securities available-for-sale — — — — — — Cash flow hedge derivatives (342 ) (101 ) (241 ) (1,526 ) (451 ) (1,075 ) Total (342 ) (101 ) (241 ) (1,526 ) (451 ) (1,075 ) Total other comprehensive income/(loss) Securities available-for-sale $ (61,316 ) $ (18,125 ) $ (43,191 ) $ (4,588 ) $ (1,356 ) $ (3,232 ) Cash flow hedge derivatives 2,335 690 1,645 698 206 492 Total $ (58,981 ) $ (17,435 ) $ (41,546 ) $ (3,890 ) $ (1,150 ) $ (2,740 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ (115,401 ) $ 4,328 Cash flow hedge derivatives 2,527 (4,696 ) Total $ (112,874 ) $ (368 ) Nine months ended September 30, 2022 Nine months ended September 30, 2021 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax Beginning balance, gain/(loss), net of tax (In thousands) Securities available-for-sale $ 211 $ 12,200 Cash flow hedge derivatives (3,276 ) (6,890 ) Total $ (3,065 ) $ 5,310 Net unrealized gains/(losses) arising during the period Securities available-for-sale $ (164,128 ) $ (48,516 ) $ (115,612 ) $ (10,322 ) $ (3,051 ) $ (7,271 ) Cash flow hedge derivatives 11,060 3,269 7,791 7,600 2,247 5,353 Total $ (153,068 ) $ (45,247 ) $ (107,821 ) $ (2,722 ) $ (804 ) $ (1,918 ) Reclassification adjustment for net losses in net income Securities available-for-sale — — — (853 ) (252 ) (601 ) Cash flow hedge derivatives (2,822 ) (834 ) (1,988 ) (4,485 ) (1,326 ) (3,159 ) Total (2,822 ) (834 ) (1,988 ) (5,338 ) (1,578 ) (3,760 ) Total other comprehensive income/(loss) Securities available-for-sale $ (164,128 ) $ (48,516 ) $ (115,612 ) $ (11,175 ) $ (3,303 ) $ (7,872 ) Cash flow hedge derivatives 8,238 2,435 5,803 3,115 921 2,194 Total $ (155,890 ) $ (46,081 ) $ (109,809 ) $ (8,060 ) $ (2,382 ) $ (5,678 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ (115,401 ) $ 4,328 Cash flow hedge derivatives 2,527 (4,696 ) Total $ (112,874 ) $ (368 ) |
Note 19 - Stock Repurchase Prog
Note 19 - Stock Repurchase Program | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | 19. On May 26, 2022, three September 30, 2022. |
Note 20 - Subsequent Events
Note 20 - Subsequent Events | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 20. The Company has evaluated the effect of events that have occurred subsequent to September 30, 2022, no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | 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, 2022. 10 December 31, 2021 February 28, 2022 ( “2021 10 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 estimate subject to change is the allowance for loan losses. For comparability, the Company has adjusted consolidated prior period amounts to conform to the current periods presentation. |
Note 2 - Business Combinations
Note 2 - Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Balance Sheet (In thousands) Assets: Cash and cash equivalents $ 473 Loans 641,839 Right-of-use assets - operating leases 6,453 Core deposit intangible 3,138 Other 561 Total assets $ 652,464 Liabilities assumed: Deposits $ 575,163 Lease liabilities 6,453 Total liabilities assumed $ 581,616 Net assets acquired $ 70,848 Total cash paid at closing $ 74,355 Goodwill $ 3,507 |
Note 6 - Earnings Per Share (Ta
Note 6 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 (In thousands, except share and per share data) Net income $ 99,035 $ 72,397 $ 263,041 $ 222,980 Weighted-average shares: Basic weighted-average number of common shares outstanding 73,158,096 77,846,424 74,475,032 78,841,899 Dilutive effect of weighted-average outstanding common share equivalents: RSUs 286,000 306,984 324,292 286,745 Diluted weighted-average number of common shares outstanding 73,444,096 78,153,408 74,799,324 79,128,644 Average restricted stock units with anti-dilutive effect — 884 — 30,130 Earnings per common share: Basic $ 1.35 $ 0.93 $ 3.53 $ 2.83 Diluted $ 1.35 $ 0.93 $ 3.52 $ 2.82 |
Note 7 - Stock-based Compensa_2
Note 7 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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, 2021 235,944 $ 32.38 332,506 $ 31.82 Granted 65,389 46.85 112,393 40.24 Vested (87,554 ) 40.89 (81,934 ) 44.52 Forfeited (11,182 ) 33.31 — — Balance at September 30, 2022 202,597 $ 33.32 362,965 $ 31.56 |
Note 8 - Investment Securities
Note 8 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | September 30, 2022 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 242,510 $ — $ 1,110 $ 241,400 U.S. government agency entities 68,712 526 126 69,112 Mortgage-backed securities 1,001,832 58 140,402 861,488 Collateralized mortgage obligations 35,378 — 3,669 31,709 Corporate debt securities 228,879 — 18,177 210,702 Total $ 1,577,311 $ 584 $ 163,484 $ 1,414,411 December 31, 2021 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. government agency entities $ 86,475 $ 1,169 $ 135 $ 87,509 Mortgage-backed securities 886,614 9,465 7,414 888,665 Collateralized mortgage obligations 9,547 — 430 9,117 Corporate debt securities 144,231 441 2,654 142,018 Total $ 1,126,867 $ 11,075 $ 10,633 $ 1,127,309 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2022 Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 282,514 $ 280,897 Due after one year through five years 176,541 159,389 Due after five years through ten years 147,198 138,428 Due after ten years 971,058 835,697 Total $ 1,577,311 $ 1,414,411 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2022 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 $ 241,400 $ 1,110 $ — $ — $ 241,400 $ 1,110 U.S. government agency entities — — 2,155 126 2,155 126 Mortgage-backed securities 551,053 69,037 309,737 71,365 860,790 140,402 Collateralized mortgage obligations 24,901 1,794 6,809 1,875 31,710 3,669 Corporate debt securities 118,913 4,364 91,790 13,813 210,703 18,177 Total $ 936,267 $ 76,305 $ 410,491 $ 87,179 $ 1,346,758 $ 163,484 December 31, 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 $ — $ — $ 2,337 $ 135 $ 2,337 $ 135 Mortgage-backed securities 527,276 6,659 6,496 755 533,772 7,414 Collateralized mortgage obligations 8,989 417 128 13 9,117 430 Corporate debt securities 103,720 2,122 19,468 532 123,188 2,654 Total $ 639,985 $ 9,198 $ 28,429 $ 1,435 $ 668,414 $ 10,633 |
Note 9 - Loans (Tables)
Note 9 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2022 December 31, 2021 (In thousands) Commercial loans $ 3,367,437 $ 2,982,399 Real estate construction loans 573,421 611,031 Commercial mortgage loans 8,677,733 8,143,272 Residential mortgage loans 5,130,650 4,182,006 Equity lines 350,448 419,487 Installment and other loans 7,114 4,284 Gross loans $ 18,106,803 $ 16,342,479 Allowance for loan losses (148,817 ) (136,157 ) Unamortized deferred loan fees, net (6,936 ) (4,321 ) Total loans, net $ 17,951,050 $ 16,202,001 |
Impaired Financing Receivables [Table Text Block] | Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 26,809 $ — $ 28,691 $ — Commercial mortgage loans 18,861 191 28,878 508 Residential mortgage loans and equity lines 16,743 7 14,838 20 Installment and other loans 61 — 35 — Total non-accrual loans $ 62,474 $ 198 $ 72,442 $ 528 Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 16,379 $ — $ 22,989 $ — Real estate construction loans 4,548 50 4,310 220 Commercial mortgage loans 37,017 140 37,964 297 Residential mortgage loans and equity lines 9,831 7 8,976 23 Total non-accrual loans $ 67,775 $ 197 $ 74,239 $ 540 |
Schedule Of Impaired Loans And Related Allowance And Charge Off [Table Text Block] | September 30, 2022 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 10,171 $ 6,887 $ — Commercial mortgage loans 14,148 10,956 — Residential mortgage loans and equity lines 5,582 5,407 — Installment and other loans 10 9 — Subtotal $ 29,911 $ 23,259 $ — With allocated allowance Commercial loans $ 32,426 $ 19,717 $ 4,013 Commercial mortgage loans 16,002 15,955 2,146 Residential mortgage loans and equity lines 9,951 9,194 39 Subtotal $ 58,379 $ 44,866 $ 6,198 Total non-accrual loans $ 88,290 $ 68,125 $ 6,198 December 31, 2021 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 15,879 $ 11,342 $ — Commercial mortgage loans 24,437 21,209 — Residential mortgage loans and equity lines 6,020 5,850 — Subtotal $ 46,336 $ 38,401 $ — With allocated allowance Commercial loans $ 14,294 $ 5,217 $ 894 Commercial mortgage loans 17,930 16,964 3,631 Residential mortgage loans and equity lines 6,048 5,264 22 Subtotal $ 38,272 $ 27,445 $ 4,547 Total non-accrual loans $ 84,608 $ 65,846 $ 4,547 |
Financing Receivable, Past Due [Table Text Block] | September 30, 2022 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) Type of Loans: Commercial loans $ 7,223 $ 3,151 $ 1,112 $ 26,604 $ 38,090 $ 3,329,347 $ 3,367,437 Real estate construction loans — — — — — 573,421 573,421 Commercial mortgage loans — 1,107 2,060 26,911 30,078 8,647,655 8,677,733 Residential mortgage loans and equity lines 3,383 4,690 — 14,601 22,674 5,458,424 5,481,098 Installment and other loans 35 — — 9 44 7,070 7,114 Total loans $ 10,641 $ 8,948 $ 3,172 $ 68,125 $ 90,886 $ 18,015,917 $ 18,106,803 December 31, 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) Type of Loans: Commercial loans $ 4,294 $ 9,877 $ 1,439 $ 16,558 $ 32,168 $ 2,950,231 $ 2,982,399 Real estate construction loans — — — — — 611,031 611,031 Commercial mortgage loans 8,389 — — 38,173 46,562 8,096,710 8,143,272 Residential mortgage loans and equity lines 20,129 3,138 — 11,115 34,382 4,567,111 4,601,493 Installment and other loans — — — — — 4,284 4,284 Total loans $ 32,812 $ 13,015 $ 1,439 $ 65,846 $ 113,112 $ 16,229,367 $ 16,342,479 |
Schedule Of Troubled Debt Restructurings [Table Text Block] | Three Months Ended September 30, 2022 September 30, 2022 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial mortgage loans 2 $ 2,572 $ 2,572 $ — $ — Residential mortgage loans and equity lines 4 1,466 1,442 — — Total 6 $ 4,038 $ 4,014 $ — $ — Three Months Ended September 30, 2021 September 30, 2021 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Residential mortgage loans and equity lines 1 $ 479 $ 479 $ — $ 14 Total 1 $ 479 $ 479 $ — $ 14 Nine Months Ended September 30, 2022 September 30, 2022 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 4 $ 6,115 $ 6,115 $ — $ 2,566 Commercial mortgage loans 2 2,572 2,572 Residential mortgage loans and equity lines 8 2,190 2,162 — 4 Total 14 $ 10,877 $ 10,849 $ — $ 2,570 Nine Months Ended September 30, 2021 September 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 $ — $ — Residential mortgage loans and equity lines 1 479 479 — 14 Total 2 $ 1,165 $ 1,165 $ — $ 14 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | September 30, 2022 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 2,643 $ — $ — $ 2,643 Commercial mortgage loans 2,734 — 5,874 8,608 Residential mortgage loans 2,198 459 1,300 3,957 Total accruing TDRs $ 7,575 $ 459 $ 7,174 $ 15,208 December 31, 2021 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 3,368 $ — $ — $ 3,368 Commercial mortgage loans 438 5,522 168 6,128 Residential mortgage loans 1,464 249 1,628 3,341 Total accruing TDRs $ 5,270 $ 5,771 $ 1,796 $ 12,837 |
Non Accrual Troubled Debt Restructurings [Table Text Block] | September 30, 2022 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 4,805 $ — $ — $ 4,805 Residential mortgage loans 1,635 — — 1,635 Total non-accrual TDRs $ 6,440 $ — $ — $ 6,440 December 31, 2021 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 7,717 $ — $ — $ 7,717 Residential mortgage loans 458 — — 458 Total non-accrual TDRs $ 8,175 $ — $ — $ 8,175 |
Loan Held for Investment by Loan Portfolio Segments, Internal Risk Ratings and Vintage Year [Table Text Block] | Loans Amortized Cost Basis by Origination Year September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 440,389 $ 487,748 $ 201,540 $ 127,595 $ 115,076 $ 131,652 $ 1,749,754 $ 6,429 $ 3,260,183 Special Mention 1,212 4,494 2,869 72 2,697 11,418 22,703 250 45,715 Substandard — 12,324 4,973 6,511 2,852 5,226 25,278 38 57,202 Doubtful — — — 1,088 2,185 — 232 — 3,505 Total $ 441,601 $ 504,566 $ 209,382 $ 135,266 $ 122,810 $ 148,296 $ 1,797,967 $ 6,717 $ 3,366,605 YTD period charge-offs $ — $ 134 $ 169 $ 71 $ 1,786 $ — $ 202 $ — $ 2,362 YTD period recoveries (7 ) — (31 ) — (164 ) (202 ) (1,705 ) — (2,109 ) Net charge-offs/(recoveries) $ (7 ) $ 134 $ 138 $ 71 $ 1,622 $ (202 ) $ (1,503 ) $ — $ 253 Real estate construction loans Pass/Watch $ 80,633 $ 271,855 $ 114,015 $ 58,922 $ 24,650 $ — $ — $ — $ 550,075 Special Mention — — 8,579 — — — — — 8,579 Substandard — — — 2,005 9,352 — — — 11,357 Total $ 80,633 $ 271,855 $ 122,594 $ 60,927 $ 34,002 $ — $ — $ — $ 570,011 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — (6 ) — — (6 ) Net charge-offs/(recoveries) $ — $ — $ — $ — $ — $ (6 ) $ — $ — $ (6 ) Commercial mortgage loans Pass/Watch $ 1,597,328 $ 1,781,573 $ 1,084,550 $ 1,124,054 $ 941,945 $ 1,573,895 $ 179,343 $ — $ 8,282,688 Special Mention 43,636 51,488 25,686 42,685 18,952 63,473 1,300 — 247,220 Substandard — 7,269 1,744 12,383 31,933 86,222 3,371 — 142,922 Total $ 1,640,964 $ 1,840,330 $ 1,111,980 $ 1,179,122 $ 992,830 $ 1,723,590 $ 184,014 $ — $ 8,672,830 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — (180 ) — (7 ) (83 ) — (270 ) Net charge-offs/(recoveries) $ — $ — $ — $ (180 ) $ — $ (7 ) $ (83 ) $ — $ (270 ) Residential mortgage loans Pass/Watch $ 995,736 $ 976,137 $ 595,493 $ 610,410 $ 433,398 $ 1,495,370 $ — $ — $ 5,106,544 Special Mention — — 33 1,552 755 911 — — 3,251 Substandard 8 1,108 2,343 4,897 3,248 10,439 — — 22,043 Total $ 995,744 $ 977,245 $ 597,869 $ 616,859 $ 437,401 $ 1,506,720 $ — $ — $ 5,131,838 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ 58 $ — $ 58 YTD period recoveries — — — — — (45 ) — — (45 ) Net charge-offs/(recoveries) $ — $ — $ — $ — $ — $ (45 ) $ 58 $ — $ 13 Equity lines Pass/Watch $ 878 $ — $ — $ — $ — $ — $ 325,751 $ 23,229 $ 349,858 Special Mention 28 — — — — — — — 28 Substandard 18 — — — — — 2,251 236 2,505 Total $ 924 $ — $ — $ — $ — $ — $ 328,002 $ 23,465 $ 352,391 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — (8 ) (12 ) (20 ) Net charge-offs/(recoveries) $ — $ — $ — $ — $ — $ — $ (8 ) $ (12 ) $ (20 ) Installment and other loans Pass/Watch $ 1,246 $ 4,848 $ 98 $ — $ — $ — $ — $ — $ 6,192 Total $ 1,246 $ 4,848 $ 98 $ — $ — $ — $ — $ — $ 6,192 YTD period charge-offs $ 80 $ — $ — $ — $ — $ — $ — $ — $ 80 YTD period recoveries (1 ) — — — — — — — (1 ) Net charge-offs/(recoveries) $ 79 $ — $ — $ — $ — $ — $ — $ — $ 79 Total loans $ 3,161,112 $ 3,598,844 $ 2,041,923 $ 1,992,174 $ 1,587,043 $ 3,378,606 $ 2,309,983 $ 30,182 $ 18,099,867 Net charge-offs/(recoveries) $ 72 $ 134 $ 138 $ (109 ) $ 1,622 $ (260 ) $ (1,536 ) $ (12 ) $ 49 Loans Amortized Cost Basis by Origination Year December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 606,770 $ 268,756 $ 183,468 $ 142,419 $ 80,701 $ 100,496 $ 1,437,463 $ 7,433 $ 2,827,506 Special Mention 395 780 1,138 1,645 3,157 — 40,761 49 47,925 Substandard 450 5,879 22,513 16,423 14,309 5,221 34,713 5,716 105,224 Doubtful — — — — — — 900 — 900 Total $ 607,615 $ 275,415 $ 207,119 $ 160,487 $ 98,167 $ 105,717 $ 1,513,837 $ 13,198 $ 2,981,555 YTD period charge-offs $ — $ 1,478 $ 507 $ 366 $ — $ 50 $ 17,650 $ — $ 20,051 YTD period recoveries — (1 ) (29 ) (124 ) — (191 ) (1,361 ) — (1,706 ) Net $ — $ 1,477 $ 478 $ 242 $ — $ (141 ) $ 16,289 $ — $ 18,345 Real estate construction loans Pass/Watch $ 199,188 $ 188,782 $ 125,316 $ 24,548 $ — $ — $ — $ — $ 537,834 Special Mention — 23,107 27,672 17,374 — — — — 68,153 Substandard — — 1,919 — — — — — 1,919 Total $ 199,188 $ 211,889 $ 154,907 $ 41,922 $ — $ — $ — $ — $ 607,906 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — (76 ) — — (76 ) Net $ — $ — $ — $ — $ — $ (76 ) $ — $ — $ (76 ) Commercial mortgage loans Pass/Watch $ 1,893,807 $ 1,201,825 $ 1,253,548 $ 1,031,191 $ 727,916 $ 1,313,882 $ 198,869 $ — $ 7,621,038 Special Mention 45,719 59,182 49,796 103,101 61,105 60,448 750 — 380,101 Substandard 1,110 — 13,483 42,803 1,580 76,906 3,297 — 139,179 Total $ 1,940,636 $ 1,261,007 $ 1,316,827 $ 1,177,095 $ 790,601 $ 1,451,236 $ 202,916 $ — $ 8,140,318 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — (240 ) — — (28 ) (111 ) — (379 ) Net $ — $ — $ (240 ) $ — $ — $ (28 ) $ (111 ) $ — $ (379 ) Residential mortgage loans Pass/Watch $ 978,375 $ 622,999 $ 678,775 $ 502,325 $ 453,992 $ 929,846 $ — $ — $ 4,166,312 Special Mention — 46 1,576 1,064 836 438 — — 3,960 Substandard 1,684 147 2,698 2,574 862 5,255 — — 13,220 Total $ 980,059 $ 623,192 $ 683,049 $ 505,963 $ 455,690 $ 935,539 $ — $ — $ 4,183,492 YTD period charge-offs $ — $ — $ — $ — $ 3 $ — $ — $ — $ 3 YTD period recoveries — — — — — (208 ) — — (208 ) Net $ — $ — $ — $ — $ 3 $ (208 ) $ — $ — $ (205 ) Equity lines Pass/Watch $ — $ — $ — $ — $ — $ 5 $ 389,069 $ 30,025 $ 419,099 Substandard — — — — — — 1,230 273 1,503 Total $ — $ — $ — $ — $ — $ 5 $ 390,299 $ 30,298 $ 420,602 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — (10 ) (64 ) (74 ) Net $ — $ — $ — $ — $ — $ — $ (10 ) $ (64 ) $ (74 ) Installment and other loans Pass/Watch $ 4,117 $ 168 $ — $ — $ — $ — $ — $ — $ 4,285 Total $ 4,117 $ 168 $ — $ — $ — $ — $ — $ — $ 4,285 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Total loans $ 3,731,615 $ 2,371,671 $ 2,361,902 $ 1,885,467 $ 1,344,458 $ 2,492,497 $ 2,107,052 $ 43,496 $ 16,338,158 Net charge-offs/(recoveries) $ — $ 1,477 $ 238 $ 242 $ 3 $ (453 ) $ 16,168 $ (64 ) $ 17,611 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Three months ended September 30, 2022 and 2021 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total Allowance for Loan Losses: (In thousands) June 30, 2022 Ending Balance $ 49,069 $ 7,276 $ 68,600 $ 23,692 $ 135 $ 148,772 Provision/(reversal) for possible credit losses 1,845 (1,065 ) 1,362 (1,612 ) 72 602 Charge-offs (2,091 ) — — (58 ) (79 ) (2,228 ) Recoveries 1,576 — 88 7 — 1,671 Net (charge-offs)/recoveries (515 ) — 88 (51 ) (79 ) (557 ) September 30, 2022 Ending Balance $ 50,399 $ 6,211 $ 70,050 $ 22,029 $ 128 $ 148,817 Allowance for unfunded credit commitments: June 30, 2022 Ending Balance $ 2,804 $ 3,306 $ 26 $ — $ — $ 6,136 Provision/(reversal) for possible credit losses 1,576 (152 ) (26 ) — — 1,398 September 30, 2022 Ending Balance $ 4,380 $ 3,154 $ — $ — $ — $ 7,534 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total Allowance for Loan Losses: (In thousands) June 30, 2021 Ending Balance $ 40,067 $ 6,119 $ 58,026 $ 27,043 $ 1 $ 131,256 Provision/(reversal) for possible credit losses 674 149 2,786 (609 ) — 3,000 Charge-offs (2,649 ) — — (3 ) — (2,652 ) Recoveries 121 76 144 — — 341 Net (charge-offs)/recoveries (2,528 ) 76 144 (3 ) — (2,311 ) September 30, 2021 Ending Balance $ 38,213 $ 6,344 $ 60,956 $ 26,431 $ 1 $ 131,945 Allowance for unfunded credit commitments: June 30, 2021 Ending Balance $ 4,388 $ 3,581 $ 81 $ — $ — $ 8,050 Provision/(reversal) for possible credit losses 329 (396 ) 117 — — 50 September 30, 2021 Ending Balance $ 4,717 $ 3,185 $ 198 $ — $ — $ 8,100 Nine months ended September 30, 2022 and 2021 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total Allowance for Loan Losses: (In thousands) December 31, 2021 Ending Balance $ 43,394 $ 6,302 $ 61,081 $ 25,379 $ 1 $ 136,157 Provision/(reversal) for possible credit losses 7,258 (97 ) 8,699 (3,357 ) 206 12,709 Charge-offs (2,362 ) — — (58 ) (80 ) (2,500 ) Recoveries 2,109 6 270 65 1 2,451 Net (charge-offs)/recoveries (253 ) 6 270 7 (79 ) (49 ) September 30, 2022 Ending Balance $ 50,399 $ 6,211 $ 70,050 $ 22,029 $ 128 $ 148,817 Allowance for unfunded credit commitments: December 31, 2021 Ending Balance $ 3,725 $ 3,375 $ — $ — $ — $ 7,100 Provision/(reversal) for possible credit losses 655 (221 ) — — — 434 September 30, 2022 Ending Balance $ 4,380 $ 3,154 $ — $ — $ — $ 7,534 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total Allowance for Loan Losses: (In thousands) December 31, 2020 Ending 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 ) January 1, 2021 Beginning Balance 37,276 6,547 84,198 36,948 9 164,978 Provision/(reversal) for possible credit losses 18,891 (279 ) (23,526 ) (10,788 ) (8 ) (15,710 ) Charge-offs (19,499 ) — — (3 ) — (19,502 ) Recoveries 1,545 76 284 274 — 2,179 Net (charge-offs)/recoveries (17,954 ) 76 284 271 — (17,323 ) September 30, 2021 Ending Balance $ 38,213 $ 6,344 $ 60,956 $ 26,431 $ 1 $ 131,945 Allowance for unfunded credit commitments: December 31, 2020 Ending Balance $ 4,802 $ 690 $ 101 $ 284 $ 3 $ 5,880 Impact of ASU 2016-13 adoption 3,236 3,135 (66 ) (284 ) (3 ) 6,018 January 1, 2021 Beginning Balance 8,038 3,825 35 — — 11,898 Provision/(reversal) for possible credit losses (3,321 ) (640 ) 163 — — (3,798 ) September 30, 2021 Ending Balance $ 4,717 $ 3,185 $ 198 $ — $ — $ 8,100 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | September 30, 2022 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 $ 241,400 $ — $ — $ 241,400 U.S. government agency entities — 69,112 — 69,112 Mortgage-backed securities — 861,488 — 861,488 Collateralized mortgage obligations — 31,709 — 31,709 Corporate debt securities — 210,702 — 210,702 Total securities available-for-sale 241,400 1,173,011 — 1,414,411 Equity securities Mutual funds 5,497 — — 5,497 Preferred stock of government sponsored entities 2,110 — — 2,110 Other equity securities 15,516 — — 15,516 Total equity securities 23,123 — — 23,123 Warrants — — 46 46 Interest rate swaps — 98,498 — 98,498 Foreign exchange contracts — 752 — 752 Total assets $ 264,523 $ 1,272,261 $ 46 $ 1,536,830 Liabilities Interest rate swaps $ — $ 54,443 $ — $ 54,443 Foreign exchange contracts — 2,054 — 2,054 Total liabilities $ — $ 56,497 $ — $ 56,497 December 31, 2021 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. government agency entities $ — $ 87,509 $ — $ 87,509 Mortgage-backed securities — 888,665 — 888,665 Collateralized mortgage obligations — 9,117 — 9,117 Corporate debt securities — 142,018 — 142,018 Total securities available-for-sale — 1,127,309 — 1,127,309 Equity securities Mutual funds 6,230 — — 6,230 Preferred stock of government sponsored entities 1,811 — — 1,811 Other equity securities 14,278 — — 14,278 Total equity securities 22,319 — — 22,319 Warrants — — 23 23 Interest rate swaps — 10,090 — 10,090 Foreign exchange contracts — 1,113 — 1,113 Total assets $ 22,319 $ 1,138,512 $ 23 $ 1,160,854 Liabilities Interest rate swaps $ — $ 12,642 $ — $ 12,642 Foreign exchange contracts — 327 — 327 Total liabilities $ — $ 12,969 $ — $ 12,969 |
Fair Value Measurements, Nonrecurring [Table Text Block] | As of September 30, 2022 Total Losses Fair Value Measurements Using Total Fair Value For the Three Months Ended For the Nine Months Ended Level 1 Level 2 Level 3 Measurements September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 (In thousands) Assets Non accrual loans by type: Commercial loans $ — $ — $ 6,887 $ 6,887 $ 1,786 $ — $ 1,786 $ 2,037 Commercial mortgage loans — — 10,956 10,956 — — — — Residential mortgage loans and equity lines — — 5,407 5,407 — — — — Other installment loans — — 9 9 — — — — Total non accrual loans — — 23,259 23,259 1,786 — 1,786 2,037 Other real estate owned (1) — — 4,269 4,269 — (55 ) — (8 ) Investments in venture capital — — 836 836 — 8 — 143 Total assets $ — $ — $ 28,364 $ 28,364 $ 1,786 $ (47 ) $ 1,786 $ 2,172 As of December 31, 2021 Total Losses Fair Value Measurements Using Total Fair Value For the Twelve Months Ended Level 1 Level 2 Level 3 Measurements December 31, 2021 December 31, 2020 (In thousands) Assets Non accrual loans by type: Commercial loans $ — $ — $ 4,327 $ 4,327 $ 1,012 $ 7,012 Commercial mortgage loans — — 13,335 13,335 — — Residential mortgage loans and equity lines — — 5,243 5,243 — — Total non accrual loans — — 22,905 22,905 1,012 7,012 Other real estate owned (1) — — 4,589 4,589 17 717 Investments in venture capital — — 952 952 143 107 Total assets $ — $ — $ 28,446 $ 28,446 $ 1,172 $ 7,836 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2022 December 31, 2021 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 200,051 $ 200,051 $ 134,141 $ 134,141 Short-term investments 1,063,294 1,063,294 2,315,563 2,315,563 Securities available-for-sale 1,414,411 1,414,411 1,127,309 1,127,309 Loans, net 17,951,050 17,676,365 16,202,001 16,499,869 Equity securities 23,123 23,123 22,319 22,319 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants 46 46 23 23 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 162,518 $ 752 $ 181,997 $ 1,113 Interest rate swaps 1,464,567 98,498 904,635 10,090 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 18,575,751 $ 18,573,442 $ 18,058,842 $ 18,051,720 Advances from Federal Home Loan Bank 360,000 359,416 20,000 21,279 Other borrowings 22,651 18,357 23,145 18,945 Long-term debt 119,136 56,317 119,136 62,274 Notional Notional Amount Fair Value Amount Fair Value Option contracts $ — $ — $ 676 $ 3 Foreign exchange contracts 45,990 2,054 51,782 327 Interest rate swaps 691,872 54,443 872,400 12,642 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,537,547 $ (14,650 ) $ 3,297,362 $ (12,594 ) Standby letters of credit 290,618 (2,048 ) 266,490 (2,640 ) Other letters of credit 13,070 (12 ) 16,652 (13 ) |
Schedule Of Fair Value Of Financial Instruments [Table Text Block] | As of September 30, 2022 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 200,051 $ 200,051 $ — $ — Short-term investments 1,063,294 1,063,294 — — Securities available-for-sale 1,414,411 241,400 1,173,011 — Loans, net 17,676,365 — — 17,676,365 Equity securities 23,123 23,123 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 46 — — 46 Financial Liabilities Deposits 18,573,442 — — 18,573,442 Advances from Federal Home Loan Bank 359,416 — 359,416 — Other borrowings 18,357 — — 18,357 Long-term debt 56,317 — 56,317 — As of December 31, 2021 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 134,141 $ 134,141 $ — $ — Short-term investments 2,315,563 2,315,563 — — Securities available-for-sale 1,127,309 — 1,127,309 — Loans, net 16,499,869 — — 16,499,869 Equity securities 22,319 22,319 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 23 — — 23 Financial Liabilities Deposits 18,051,720 — — 18,051,720 Advances from Federal Home Loan Bank 21,279 — 21,279 — Other borrowings 18,945 — — 18,945 Long-term debt 62,274 — 62,274 — |
Note 15 - Financial Derivativ_2
Note 15 - Financial Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | September 30, 2022 December 31, 2021 Cash flow swap hedges: (In thousands) Notional $ 119,136 $ 119,136 Weighted average fixed rate-pay 2.61 % 2.61 % Weighted average variable rate-receive 2.07 % 0.16 % Unrealized gain/(loss), net of taxes (1) $ 2,527 $ (3,276 ) Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Periodic net settlement of swaps (2) $ 138 $ 754 $ 1,311 $ 2,196 |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | September 30, 2022 December 31, 2021 Fair value swap hedges: (In thousands) Notional $ 877,188 $ 729,280 Weighted average fixed rate-pay 2.14 % 2.65 % Weighted average variable rate spread 0.54 % 1.31 % Weighted average variable rate-receive 1.98 % 1.43 % Unrealized gain/(loss), net of taxes (1) $ 40,465 $ (1,013 ) Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Periodic net settlement of swaps (2) $ 1,461 $ (2,363 ) $ (1,628 ) $ (7,137 ) |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | Derivative financial instruments September 30, 2022 December 31, 2021 not designated as hedging instruments: (In thousands) Notional amounts: Option contracts $ - $ 676 Spot, forward, and swap contracts with positive fair value $ 162,518 $ 181,997 Spot, forward, and swap contracts with negative fair value $ 45,990 $ 51,782 Fair value: Option contracts $ - $ 3 Spot, forward, and swap contracts with positive fair value $ 752 $ 1,113 Spot, forward, and swap contracts with negative fair value $ (2,054 ) $ (327 ) |
Note 16 - Balance Sheet Offse_2
Note 16 - Balance Sheet Offsetting (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022 (In thousands) Assets: Derivatives $ 98,498 $ — $ 98,498 $ — $ 95,783 $ 2,715 Liabilities: Derivatives $ 54,443 $ — $ 54,443 $ — $ — $ 54,443 December 31, 2021 Assets: Derivatives $ 10,090 $ — $ 10,090 $ — $ — $ 10,090 Liabilities: Derivatives $ 15,748 $ (3,106 ) $ 12,642 $ — $ — $ 12,642 |
Note 17 - Revenue from Contra_2
Note 17 - Revenue from Contracts with Customers (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months Ended September 30, Nine months Ended September 30, 2022 2021 2022 2021 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts $ 2,398 $ 2,130 $ 7,156 $ 6,386 Wealth management fees 4,184 3,578 12,494 11,074 Other service fees (1) 4,451 3,735 12,723 11,109 Total noninterest income 11,033 9,443 32,373 28,569 Noninterest income, not in-scope (2) (1,157 ) 2,773 12,353 6,230 Total noninterest income $ 9,876 $ 12,216 $ 44,726 $ 34,799 |
Note 18 - Stockholders' Equity
Note 18 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended September 30, 2022 Three months ended September 30, 2021 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax Beginning balance, gain/(loss), net of tax (In thousands) Securities available-for-sale $ (72,210 ) $ 7,560 Cash flow hedge derivatives 882 (5,188 ) Total $ (71,328 ) $ 2,372 Net unrealized gains/(losses) arising during the period Securities available-for-sale $ (61,316 ) $ (18,125 ) $ (43,191 ) $ (4,588 ) $ (1,356 ) $ (3,232 ) Cash flow hedge derivatives 2,677 791 1,886 2,224 657 1,567 Total $ (58,639 ) $ (17,334 ) $ (41,305 ) $ (2,364 ) $ (699 ) $ (1,665 ) Reclassification adjustment for net losses in net income Securities available-for-sale — — — — — — Cash flow hedge derivatives (342 ) (101 ) (241 ) (1,526 ) (451 ) (1,075 ) Total (342 ) (101 ) (241 ) (1,526 ) (451 ) (1,075 ) Total other comprehensive income/(loss) Securities available-for-sale $ (61,316 ) $ (18,125 ) $ (43,191 ) $ (4,588 ) $ (1,356 ) $ (3,232 ) Cash flow hedge derivatives 2,335 690 1,645 698 206 492 Total $ (58,981 ) $ (17,435 ) $ (41,546 ) $ (3,890 ) $ (1,150 ) $ (2,740 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ (115,401 ) $ 4,328 Cash flow hedge derivatives 2,527 (4,696 ) Total $ (112,874 ) $ (368 ) Nine months ended September 30, 2022 Nine months ended September 30, 2021 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax Beginning balance, gain/(loss), net of tax (In thousands) Securities available-for-sale $ 211 $ 12,200 Cash flow hedge derivatives (3,276 ) (6,890 ) Total $ (3,065 ) $ 5,310 Net unrealized gains/(losses) arising during the period Securities available-for-sale $ (164,128 ) $ (48,516 ) $ (115,612 ) $ (10,322 ) $ (3,051 ) $ (7,271 ) Cash flow hedge derivatives 11,060 3,269 7,791 7,600 2,247 5,353 Total $ (153,068 ) $ (45,247 ) $ (107,821 ) $ (2,722 ) $ (804 ) $ (1,918 ) Reclassification adjustment for net losses in net income Securities available-for-sale — — — (853 ) (252 ) (601 ) Cash flow hedge derivatives (2,822 ) (834 ) (1,988 ) (4,485 ) (1,326 ) (3,159 ) Total (2,822 ) (834 ) (1,988 ) (5,338 ) (1,578 ) (3,760 ) Total other comprehensive income/(loss) Securities available-for-sale $ (164,128 ) $ (48,516 ) $ (115,612 ) $ (11,175 ) $ (3,303 ) $ (7,872 ) Cash flow hedge derivatives 8,238 2,435 5,803 3,115 921 2,194 Total $ (155,890 ) $ (46,081 ) $ (109,809 ) $ (8,060 ) $ (2,382 ) $ (5,678 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ (115,401 ) $ 4,328 Cash flow hedge derivatives 2,527 (4,696 ) Total $ (112,874 ) $ (368 ) |
Note 1 - Business (Details Text
Note 1 - Business (Details Textual) | Sep. 30, 2022 |
Number Of Limited Partnerships In Housing Investments | 10 |
Percentage of Subsidiaries Common Securities Owned by Parent Company | 100% |
Southern California1 [Member] | |
Number Of Branch Locations | 25 |
Northern California 1 [Member] | |
Number Of Branch Locations | 19 |
NEW YORK | |
Number Of Branch Locations | 9 |
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 |
Note 2 - Business Combination_2
Note 2 - Business Combinations (Details Textual) $ in Thousands | Feb. 07, 2022 USD ($) |
HSBC Bank USA [Member] | |
Number Of Branch Locations | 10 |
HSBC Bank USA West Coast Mass Market Consumer and Retail Banking Business [Member] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financing Receivable | $ 646,100 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposit Liabilities | $ 575,163 |
Note 2 - Business Combination_3
Note 2 - Business Combinations - Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands | Feb. 07, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Goodwill | $ 375,696 | $ 372,189 | |
HSBC Bank USA West Coast Mass Market Consumer and Retail Banking Business [Member] | |||
Cash and cash equivalents | $ 473 | ||
Loans | 641,839 | ||
Right-of-use assets - operating leases | 6,453 | ||
Core deposit intangible | 3,138 | ||
Other | 561 | ||
Total assets | 652,464 | ||
Deposits | 575,163 | ||
Lease liabilities | 6,453 | ||
Total liabilities assumed | 581,616 | ||
Net assets acquired | 70,848 | ||
Total cash paid at closing | 74,355 | ||
Goodwill | $ 3,507 |
Note 5 - Cash, Cash Equivalen_2
Note 5 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Average Excess Balances Maintained With Federal Reserve Bank | $ 1,300,000 | $ 1,600,000 |
Margin Deposit Assets | 0 | 24,300 |
Restricted Cash, Total | 32,700 | 690 |
Bank [Member] | ||
Restricted Cash, Total | $ 0 | $ 5,900 |
Note 6 - Earnings Per Share - E
Note 6 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net income | $ 99,035 | $ 72,397 | $ 263,041 | $ 222,980 |
Basic weighted-average number of common shares outstanding (in shares) | 73,158,096 | 77,846,424 | 74,475,032 | 78,841,899 |
Dilutive effect of weighted-average outstanding common share equivalents RSUs (in shares) | 286,000 | 306,984 | 324,292 | 286,745 |
Diluted weighted-average number of common shares outstanding (in shares) | 73,444,096 | 78,153,408 | 74,799,324 | 79,128,644 |
Average restricted stock units with anti-dilutive effect (in shares) | 0 | 884 | 0 | 30,130 |
Basic (in dollars per share) | $ 1.35 | $ 0.93 | $ 3.53 | $ 2.83 |
Diluted (in dollars per share) | $ 1.35 | $ 0.93 | $ 3.52 | $ 2.82 |
Note 7 - Stock-based Compensa_3
Note 7 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 1,659,495 | 1,659,495 | ||
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 | $ 1.8 | $ 1.7 | $ 5.2 | $ 4.1 |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 10.7 | $ 10.3 | $ 10.7 | $ 10.3 |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | |||
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% | 0% | ||
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% | 150% |
Note 7 - Stock-based Compensa_4
Note 7 - Stock-based Compensation - Restricted Stock Units (Details) | 9 Months Ended |
Sep. 30, 2022 $ / shares shares | |
Time-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 235,944 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 32.38 |
Granted (in shares) | shares | 65,389 |
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 46.85 |
Vested (in shares) | shares | (87,554) |
Vested, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 40.89 |
Forfeited (in shares) | shares | (11,182) |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 33.31 |
Balance (in shares) | shares | 202,597 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 33.32 |
Performance-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 332,506 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 31.82 |
Granted (in shares) | shares | 112,393 |
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 40.24 |
Vested (in shares) | shares | (81,934) |
Vested, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 44.52 |
Forfeited (in shares) | shares | 0 |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Balance (in shares) | shares | 362,965 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 31.56 |
Note 8 - Investment Securitie_2
Note 8 - Investment Securities (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Total | $ 4,500 | $ 4,500 | |||
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | (3,700) | $ 3,000 | 1,257 | $ (3,628) | |
Equity Securities, FV-NI, Current | $ 23,123 | $ 23,123 | $ 22,319 | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 195 | 195 | 88 | ||
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 | |||
Debt Securities, Available-for-Sale, Transfer in, Allowance for Credit Loss, Expense | 0 | $ 0 | 0 | $ 0 | |
Debt Securities, Available-for-Sale, Total | 1,414,411 | 1,414,411 | $ 1,127,309 | ||
Asset Pledged as Collateral [Member] | Public Deposits and Other Borrowings [Member] | |||||
Debt Securities, Available-for-Sale, Total | $ 144,300 | $ 144,300 | $ 30,500 | ||
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 160 | 160 | 70 | ||
Corporate Debt Securities [Member] | |||||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 21 | 21 | 12 | ||
Debt Securities, Available-for-Sale, Total | $ 210,702 | $ 210,702 | $ 142,018 |
Note 8 - Investment Securitie_3
Note 8 - Investment Securities - Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Investment securities available for sale, amortized cost | $ 1,577,311 | $ 1,126,867 |
Investment securities available for sale, gross unrealized gains | 584 | 11,075 |
Investment securities available for sale, gross unrealized losses | 163,484 | 10,633 |
Securities available-for-sale | 1,414,411 | 1,127,309 |
US Treasury Securities [Member] | ||
Investment securities available for sale, amortized cost | 242,510 | |
Investment securities available for sale, gross unrealized gains | 0 | |
Investment securities available for sale, gross unrealized losses | 1,110 | |
Securities available-for-sale | 241,400 | |
US Government Corporations and Agencies Securities [Member] | ||
Investment securities available for sale, amortized cost | 68,712 | 86,475 |
Investment securities available for sale, gross unrealized gains | 526 | 1,169 |
Investment securities available for sale, gross unrealized losses | 126 | 135 |
Securities available-for-sale | 69,112 | 87,509 |
Collateralized Mortgage-Backed Securities [Member] | ||
Investment securities available for sale, amortized cost | 1,001,832 | 886,614 |
Investment securities available for sale, gross unrealized gains | 58 | 9,465 |
Investment securities available for sale, gross unrealized losses | 140,402 | 7,414 |
Securities available-for-sale | 861,488 | 888,665 |
Collateralized Mortgage Obligations [Member] | ||
Investment securities available for sale, amortized cost | 35,378 | 9,547 |
Investment securities available for sale, gross unrealized gains | 0 | 0 |
Investment securities available for sale, gross unrealized losses | 3,669 | 430 |
Securities available-for-sale | 31,709 | 9,117 |
Corporate Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 228,879 | 144,231 |
Investment securities available for sale, gross unrealized gains | 0 | 441 |
Investment securities available for sale, gross unrealized losses | 18,177 | 2,654 |
Securities available-for-sale | $ 210,702 | $ 142,018 |
Note 8 - Investment Securitie_4
Note 8 - Investment Securities - Investments by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Due in one year or less, Amortized Cost | $ 282,514 | |
Due in one year or less, Fair Value | 280,897 | |
Due after one year through five years, Amortized Cost | 176,541 | |
Due after one year through five years, Fair Value | 159,389 | |
Due after five years through ten years, Amortized Cost | 147,198 | |
Due after five years through ten years, Fair Value | 138,428 | |
Due after ten years, Amortized Cost | 971,058 | |
Due after ten years, Fair Value | 835,697 | |
Total, Amortized Cost | 1,577,311 | $ 1,126,867 |
Total, Fair Value | $ 1,414,411 | $ 1,127,309 |
Note 8 - Investment Securitie_5
Note 8 - Investment Securities - Temporarily Impaired Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Temporarily impaired securities, less than 12 months, fair value | $ 936,267 | $ 639,985 |
Temporarily impaired securities, less than 12 months, unrealized losses | 76,305 | 9,198 |
Temporarily impaired securities, 12 months or longer, fair value | 410,491 | 28,429 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 87,179 | 1,435 |
Temporarily impaired securities, total fair value | 1,346,758 | 668,414 |
Temporarily impaired securities, total unrealized losses | 163,484 | 10,633 |
US Treasury Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 241,400 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 1,110 | |
Temporarily impaired securities, 12 months or longer, fair value | 0 | |
Temporarily impaired securities, 12 months or longer, unrealized losses | 0 | |
Temporarily impaired securities, total fair value | 241,400 | |
Temporarily impaired securities, total unrealized losses | 1,110 | |
US Government Corporations and Agencies Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 0 | 0 |
Temporarily impaired securities, less than 12 months, unrealized losses | 0 | 0 |
Temporarily impaired securities, 12 months or longer, fair value | 2,155 | 2,337 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 126 | 135 |
Temporarily impaired securities, total fair value | 2,155 | 2,337 |
Temporarily impaired securities, total unrealized losses | 126 | 135 |
Collateralized Mortgage-Backed Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 551,053 | 527,276 |
Temporarily impaired securities, less than 12 months, unrealized losses | 69,037 | 6,659 |
Temporarily impaired securities, 12 months or longer, fair value | 309,737 | 6,496 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 71,365 | 755 |
Temporarily impaired securities, total fair value | 860,790 | 533,772 |
Temporarily impaired securities, total unrealized losses | 140,402 | 7,414 |
Collateralized Mortgage Obligations [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 24,901 | 8,989 |
Temporarily impaired securities, less than 12 months, unrealized losses | 1,794 | 417 |
Temporarily impaired securities, 12 months or longer, fair value | 6,809 | 128 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 1,875 | 13 |
Temporarily impaired securities, total fair value | 31,710 | 9,117 |
Temporarily impaired securities, total unrealized losses | 3,669 | 430 |
Corporate Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 118,913 | 103,720 |
Temporarily impaired securities, less than 12 months, unrealized losses | 4,364 | 2,122 |
Temporarily impaired securities, 12 months or longer, fair value | 91,790 | 19,468 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 13,813 | 532 |
Temporarily impaired securities, total fair value | 210,703 | 123,188 |
Temporarily impaired securities, total unrealized losses | $ 18,177 | $ 2,654 |
Note 9 - Loans (Details Textual
Note 9 - Loans (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Impaired Financing Receivable, Recorded Investment | $ 68,125,000 | $ 68,125,000 | $ 65,846,000 | ||
Percentage Of Charge Off To Contractual Balances For Impaired Loans | 12.20% | 12.20% | 10.70% | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Specific Reserve | $ 0 | $ 0 | $ 0 | $ 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | 0 | ||||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 0 | $ 0 | |||
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 | 68,100,000 | $ 68,100,000 | $ 65,800,000 | ||
Accruing Troubled Debt Restructuring [Member] | |||||
Financing Receivable, Troubled Debt Restructuring | 15,200,000 | 15,200,000 | 12,800,000 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Specific Reserve | 10,000 | 7,000 | |||
Non-accruing Troubled Debt Restructuring [Member] | |||||
Financing Receivable, Troubled Debt Restructuring | $ 6,400,000 | 6,400,000 | 8,200,000 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Specific Reserve | $ 499,000 | $ 3,000 |
Note 9 - Loans - Components of
Note 9 - Loans - Components of Loans in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Loans | $ 18,106,803 | $ 16,342,479 | ||||
Less: Allowance for loan losses | (148,817) | $ (148,772) | (136,157) | $ (131,945) | $ (131,256) | $ (166,538) |
Unamortized deferred loan fees, net | (6,936) | (4,321) | ||||
Loans, net | 17,951,050 | 16,202,001 | ||||
Commercial Portfolio Segment [Member] | ||||||
Loans | 3,367,437 | 2,982,399 | ||||
Less: Allowance for loan losses | (50,399) | (49,069) | (43,394) | (38,213) | (40,067) | (68,742) |
Real Estate Construction Portfolio Segment [Member] | ||||||
Loans | 573,421 | 611,031 | ||||
Less: Allowance for loan losses | (6,211) | (7,276) | (6,302) | (6,344) | (6,119) | (30,854) |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans | 8,677,733 | 8,143,272 | ||||
Less: Allowance for loan losses | (70,050) | (68,600) | (61,081) | (60,956) | (58,026) | (49,205) |
Residential Portfolio Segment [Member] | ||||||
Loans | 5,130,650 | 4,182,006 | ||||
Equity Lines Portfolio Segment [Member] | ||||||
Loans | 350,448 | 419,487 | ||||
Installment and Other Loans [Member ] | ||||||
Loans | 7,114 | 4,284 | ||||
Less: Allowance for loan losses | $ (128) | $ (135) | $ (1) | $ (1) | $ (1) | $ 0 |
Note 9 - Loans - Average Balanc
Note 9 - Loans - Average Balance and Interest Income Recognized Related to Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Average Recorded Investment | $ 62,474 | $ 67,775 | $ 72,442 | $ 74,239 |
Interest Income Recognized | 198 | 197 | 528 | 540 |
Commercial Portfolio Segment [Member] | ||||
Average Recorded Investment | 26,809 | 16,379 | 28,691 | 22,989 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Average Recorded Investment | 18,861 | 37,017 | 28,878 | 37,964 |
Interest Income Recognized | 191 | 140 | 508 | 297 |
Real Estate Construction Portfolio Segment [Member] | ||||
Average Recorded Investment | 4,548 | 4,310 | ||
Interest Income Recognized | 50 | 220 | ||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
Average Recorded Investment | 16,743 | 9,831 | 14,838 | 8,976 |
Interest Income Recognized | 7 | $ 7 | 20 | $ 23 |
Installment and Other Loans [Member ] | ||||
Average Recorded Investment | 61 | 35 | ||
Interest Income Recognized | $ 0 | $ 0 |
Note 9 - Loans - Impaired Loans
Note 9 - Loans - Impaired Loans and Related Allowance for Credit Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loans with no related allowance, unpaid principal balance | $ 29,911 | $ 46,336 |
Loans with no related allowance, recorded investment | 23,259 | 38,401 |
Loans with related allowance, unpaid principal balance | 58,379 | 38,272 |
Loans with related allowance, recorded investment | 44,866 | 27,445 |
Allowance | 6,198 | 4,547 |
Unpaid principal balance | 88,290 | 84,608 |
Recorded investment | 68,125 | 65,846 |
Commercial Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 10,171 | 15,879 |
Loans with no related allowance, recorded investment | 6,887 | 11,342 |
Loans with related allowance, unpaid principal balance | 32,426 | 14,294 |
Loans with related allowance, recorded investment | 19,717 | 5,217 |
Allowance | 4,013 | 894 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 14,148 | 24,437 |
Loans with no related allowance, recorded investment | 10,956 | 21,209 |
Loans with related allowance, unpaid principal balance | 16,002 | 17,930 |
Loans with related allowance, recorded investment | 15,955 | 16,964 |
Allowance | 2,146 | 3,631 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 5,582 | 6,020 |
Loans with no related allowance, recorded investment | 5,407 | 5,850 |
Loans with related allowance, unpaid principal balance | 9,951 | 6,048 |
Loans with related allowance, recorded investment | 9,194 | 5,264 |
Allowance | 39 | $ 22 |
Installment and Other Loans [Member ] | ||
Loans with no related allowance, unpaid principal balance | 10 | |
Loans with no related allowance, recorded investment | $ 9 |
Note 9 - Loans - Aging of Loan
Note 9 - Loans - Aging of Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loans | $ 18,106,803 | $ 16,342,479 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 10,641 | 32,812 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 8,948 | 13,015 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 3,172 | 1,439 |
Financial Asset, Past Due [Member] | ||
Loans | 90,886 | 113,112 |
Non-accrual loans | 68,125 | 65,846 |
Financial Asset, Not Past Due [Member] | ||
Loans | 18,015,917 | 16,229,367 |
Commercial Portfolio Segment [Member] | ||
Loans | 3,367,437 | 2,982,399 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 7,223 | 4,294 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 3,151 | 9,877 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 1,112 | 1,439 |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 38,090 | 32,168 |
Non-accrual loans | 26,604 | 16,558 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 3,329,347 | 2,950,231 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 573,421 | 611,031 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 0 |
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 | 0 | 0 |
Non-accrual loans | 0 | 0 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 573,421 | 611,031 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 8,677,733 | 8,143,272 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 8,389 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 1,107 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 2,060 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 30,078 | 46,562 |
Non-accrual loans | 26,911 | 38,173 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 8,647,655 | 8,096,710 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 5,481,098 | 4,601,493 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 3,383 | 20,129 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 4,690 | 3,138 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 22,674 | 34,382 |
Non-accrual loans | 14,601 | 11,115 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 5,458,424 | 4,567,111 |
Installment and Other Loans [Member ] | ||
Loans | 7,114 | 4,284 |
Installment and Other Loans [Member ] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 35 | 0 |
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 | 44 | 0 |
Non-accrual loans | 9 | 0 |
Installment and Other Loans [Member ] | Financial Asset, Not Past Due [Member] | ||
Loans | $ 7,070 | $ 4,284 |
Note 9 - Loans - Troubled Debt
Note 9 - Loans - Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | |
No. of Contracts | 6 | 1 | 14 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 4,038 | $ 479 | $ 10,877 | $ 1,165 |
Post-Modification Outstanding Recorded Investment | 4,014 | 479 | 10,849 | 1,165 |
Specific Reserve | 0 | 0 | 0 | 0 |
Charge-offs | $ 0 | $ 14 | $ 2,570 | $ 14 |
Commercial Mortgage Loans [Member] | ||||
No. of Contracts | 2 | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 2,572 | $ 2,572 | ||
Post-Modification Outstanding Recorded Investment | 2,572 | 2,572 | ||
Specific Reserve | 0 | |||
Charge-offs | $ 0 | |||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
No. of Contracts | 4 | 1 | 8 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 1,466 | $ 479 | $ 2,190 | $ 479 |
Post-Modification Outstanding Recorded Investment | 1,442 | 479 | 2,162 | 479 |
Specific Reserve | 0 | 0 | 0 | 0 |
Charge-offs | $ 0 | $ 14 | $ 4 | $ 14 |
Commercial Portfolio Segment [Member] | ||||
No. of Contracts | 4 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 6,115 | $ 686 | ||
Post-Modification Outstanding Recorded Investment | 6,115 | 686 | ||
Specific Reserve | 0 | 0 | ||
Charge-offs | $ 2,566 | $ 0 |
Note 9 - Loans - Accruing Troub
Note 9 - Loans - Accruing Troubled Debt Restructurings (Details) - Accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Accruing TDRs | $ 15,208 | $ 12,837 |
Payment Deferral [Member] | ||
Accruing TDRs | 7,575 | 5,270 |
Contractual Interest Rate Reduction [Member] | ||
Accruing TDRs | 459 | 5,771 |
Rate Reduction and Payment Deferral [Member] | ||
Accruing TDRs | 7,174 | 1,796 |
Commercial Portfolio Segment [Member] | ||
Accruing TDRs | 2,643 | 3,368 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||
Accruing TDRs | 2,643 | 3,368 |
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 | 8,608 | 6,128 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||
Accruing TDRs | 2,734 | 438 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Accruing TDRs | 0 | 5,522 |
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||
Accruing TDRs | 5,874 | 168 |
Residential Portfolio Segment [Member] | ||
Accruing TDRs | 3,957 | 3,341 |
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||
Accruing TDRs | 2,198 | 1,464 |
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Accruing TDRs | 459 | 249 |
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||
Accruing TDRs | $ 1,300 | $ 1,628 |
Note 9 - Loans - Non-accrual Tr
Note 9 - Loans - Non-accrual Troubled Debt Restructurings (Details) - Non-accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Accruing TDRs | $ 6,440 | $ 8,175 |
Payment Deferral [Member] | ||
Accruing TDRs | 6,440 | 8,175 |
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 | 4,805 | 7,717 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||
Accruing TDRs | 4,805 | 7,717 |
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 | 1,635 | 458 |
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||
Accruing TDRs | 1,635 | 458 |
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 9 - Loans - Loan Held for
Note 9 - Loans - Loan Held for Investment by Loan Portfolio Segments, Internal Risk Ratings and Vintage Year (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Total, Loans Amortized Cost Basis by Origination Year 2021 | $ 3,161,112 | $ 3,161,112 | $ 3,731,615 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 3,598,844 | 3,598,844 | 2,371,671 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 2,041,923 | 2,041,923 | 2,361,902 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 1,992,174 | 1,992,174 | 1,885,467 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 1,587,043 | 1,587,043 | 1,344,458 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 3,378,606 | 3,378,606 | 2,492,497 | ||
Total, Revolving Loans | 2,309,983 | 2,309,983 | 2,107,052 | ||
Total, Revolving Converted to Term Loans | 30,182 | 30,182 | 43,496 | ||
Total loans | 18,099,867 | 18,099,867 | 16,338,158 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 72 | 0 | |||
YTD period charge-offs | 2,228 | $ 2,652 | 2,500 | $ 19,502 | |
YTD period recoveries | (1,671) | (341) | (2,451) | (2,179) | |
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2020 | 134 | 1,477 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2019 | 138 | 238 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2018 | (109) | 242 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2017 | 1,622 | 3 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year Prior | (260) | (453) | |||
Net charge-offs/(recoveries), Revolving Loans | (1,536) | 16,168 | |||
Net charge-offs/(recoveries), Revolving Converted to Term Loans | (12) | (64) | |||
Net charge-offs/(recoveries) | 557 | 2,311 | 49 | 17,323 | 17,611 |
Net charge-offs/(recoveries) | 557 | 2,311 | 49 | 17,323 | 17,611 |
Special Mention | 18,099,867 | 18,099,867 | 16,338,158 | ||
Commercial Portfolio Segment [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 441,601 | 441,601 | 607,615 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 504,566 | 504,566 | 275,415 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 209,382 | 209,382 | 207,119 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 135,266 | 135,266 | 160,487 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 122,810 | 122,810 | 98,167 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 148,296 | 148,296 | 105,717 | ||
Total, Revolving Loans | 1,797,967 | 1,797,967 | 1,513,837 | ||
Total, Revolving Converted to Term Loans | 6,717 | 6,717 | 13,198 | ||
Total loans | 3,366,605 | 3,366,605 | 2,981,555 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 134 | 1,478 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 169 | 507 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 71 | 366 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 1,786 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | 50 | |||
YTD period charge-offs, Revolving Loans | 202 | 17,650 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period charge-offs | 2,091 | 2,649 | 2,362 | 19,499 | 20,051 |
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | (7) | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | (1) | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | (31) | (29) | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | (124) | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | (164) | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | (202) | (191) | |||
YTD period recoveries, Revolving Loans | (1,705) | (1,361) | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period recoveries | (1,576) | (121) | (2,109) | (1,545) | (1,706) |
Net, Loans Amortized Cost Basis by Origination Year 2021 | (7) | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2020 | 134 | 1,477 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2019 | 138 | 478 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2018 | 71 | 242 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2017 | 1,622 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year Prior | (202) | (141) | |||
Net charge-offs/(recoveries), Revolving Loans | (1,503) | 16,289 | |||
Net charge-offs/(recoveries), Revolving Converted to Term Loans | 0 | 0 | |||
Net charge-offs/(recoveries) | 515 | 2,528 | 253 | 17,954 | 18,345 |
Net charge-offs/(recoveries) | 515 | 2,528 | 253 | 17,954 | 18,345 |
Special Mention | 3,366,605 | 3,366,605 | 2,981,555 | ||
Commercial Portfolio Segment [Member] | Pass [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 440,389 | 440,389 | 606,770 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 487,748 | 487,748 | 268,756 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 201,540 | 201,540 | 183,468 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 127,595 | 127,595 | 142,419 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 115,076 | 115,076 | 80,701 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 131,652 | 131,652 | 100,496 | ||
Total, Revolving Loans | 1,749,754 | 1,749,754 | 1,437,463 | ||
Total, Revolving Converted to Term Loans | 6,429 | 6,429 | 7,433 | ||
Total loans | 3,260,183 | 3,260,183 | 2,827,506 | ||
Special Mention | 3,260,183 | 3,260,183 | 2,827,506 | ||
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 1,212 | 1,212 | 395 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 4,494 | 4,494 | 780 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 2,869 | 2,869 | 1,138 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 72 | 72 | 1,645 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 2,697 | 2,697 | 3,157 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 11,418 | 11,418 | 0 | ||
Total, Revolving Loans | 22,703 | 22,703 | 40,761 | ||
Total, Revolving Converted to Term Loans | 250 | 250 | 49 | ||
Total loans | 45,715 | 45,715 | 47,925 | ||
Special Mention | 45,715 | 45,715 | 47,925 | ||
Commercial Portfolio Segment [Member] | Substandard [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | 450 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 12,324 | 12,324 | 5,879 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 4,973 | 4,973 | 22,513 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 6,511 | 6,511 | 16,423 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 2,852 | 2,852 | 14,309 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 5,226 | 5,226 | 5,221 | ||
Total, Revolving Loans | 25,278 | 25,278 | 34,713 | ||
Total, Revolving Converted to Term Loans | 38 | 38 | 5,716 | ||
Total loans | 57,202 | 57,202 | 105,224 | ||
Special Mention | 57,202 | 57,202 | 105,224 | ||
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 1,088 | 1,088 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 2,185 | 2,185 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 0 | ||
Total, Revolving Loans | 232 | 232 | 900 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 3,505 | 3,505 | 900 | ||
Special Mention | 3,505 | 3,505 | 900 | ||
Real Estate Construction Portfolio Segment [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 80,633 | 80,633 | 199,188 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 271,855 | 271,855 | 211,889 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 122,594 | 122,594 | 154,907 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 60,927 | 60,927 | 41,922 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 34,002 | 34,002 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 570,011 | 570,011 | 607,906 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |||
YTD period charge-offs, Revolving Loans | 0 | 0 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period charge-offs | 0 | 0 | 0 | 0 | 0 |
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | (6) | (76) | |||
YTD period recoveries, Revolving Loans | 0 | 0 | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period recoveries | 0 | (76) | (6) | (76) | (76) |
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year Prior | (6) | (76) | |||
Net charge-offs/(recoveries), Revolving Loans | 0 | 0 | |||
Net charge-offs/(recoveries), Revolving Converted to Term Loans | 0 | 0 | |||
Net charge-offs/(recoveries) | 0 | (76) | (6) | (76) | (76) |
Net charge-offs/(recoveries) | 0 | (76) | (6) | (76) | (76) |
Special Mention | 570,011 | 570,011 | 607,906 | ||
Real Estate Construction Portfolio Segment [Member] | Pass [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 80,633 | 80,633 | 199,188 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 271,855 | 271,855 | 188,782 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 114,015 | 114,015 | 125,316 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 58,922 | 58,922 | 24,548 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 24,650 | 24,650 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 550,075 | 550,075 | 537,834 | ||
Special Mention | 550,075 | 550,075 | 537,834 | ||
Real Estate Construction Portfolio Segment [Member] | Special Mention [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | 23,107 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 8,579 | 8,579 | 27,672 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | 17,374 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 8,579 | 8,579 | 68,153 | ||
Special Mention | 8,579 | 8,579 | 68,153 | ||
Real Estate Construction Portfolio Segment [Member] | Substandard [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | 1,919 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 2,005 | 2,005 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 9,352 | 9,352 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 11,357 | 11,357 | 1,919 | ||
Special Mention | 11,357 | 11,357 | 1,919 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 1,640,964 | 1,640,964 | 1,940,636 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 1,840,330 | 1,840,330 | 1,261,007 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 1,111,980 | 1,111,980 | 1,316,827 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 1,179,122 | 1,179,122 | 1,177,095 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 992,830 | 992,830 | 790,601 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,723,590 | 1,723,590 | 1,451,236 | ||
Total, Revolving Loans | 184,014 | 184,014 | 202,916 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 8,672,830 | 8,672,830 | 8,140,318 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |||
YTD period charge-offs, Revolving Loans | 0 | 0 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period charge-offs | 0 | 0 | 0 | 0 | 0 |
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | (240) | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | (180) | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | (7) | (28) | |||
YTD period recoveries, Revolving Loans | (83) | (111) | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period recoveries | (88) | (144) | (270) | (284) | (379) |
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2019 | 0 | (240) | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2018 | (180) | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year Prior | (7) | (28) | |||
Net charge-offs/(recoveries), Revolving Loans | (83) | (111) | |||
Net charge-offs/(recoveries), Revolving Converted to Term Loans | 0 | 0 | |||
Net charge-offs/(recoveries) | (88) | (144) | (270) | (284) | (379) |
Net charge-offs/(recoveries) | (88) | (144) | (270) | (284) | (379) |
Special Mention | 8,672,830 | 8,672,830 | 8,140,318 | ||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 1,597,328 | 1,597,328 | 1,893,807 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 1,781,573 | 1,781,573 | 1,201,825 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 1,084,550 | 1,084,550 | 1,253,548 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 1,124,054 | 1,124,054 | 1,031,191 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 941,945 | 941,945 | 727,916 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,573,895 | 1,573,895 | 1,313,882 | ||
Total, Revolving Loans | 179,343 | 179,343 | 198,869 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 8,282,688 | 8,282,688 | 7,621,038 | ||
Special Mention | 8,282,688 | 8,282,688 | 7,621,038 | ||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 43,636 | 43,636 | 45,719 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 51,488 | 51,488 | 59,182 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 25,686 | 25,686 | 49,796 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 42,685 | 42,685 | 103,101 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 18,952 | 18,952 | 61,105 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 63,473 | 63,473 | 60,448 | ||
Total, Revolving Loans | 1,300 | 1,300 | 750 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 247,220 | 247,220 | 380,101 | ||
Special Mention | 247,220 | 247,220 | 380,101 | ||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | 1,110 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 7,269 | 7,269 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 1,744 | 1,744 | 13,483 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 12,383 | 12,383 | 42,803 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 31,933 | 31,933 | 1,580 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 86,222 | 86,222 | 76,906 | ||
Total, Revolving Loans | 3,371 | 3,371 | 3,297 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 142,922 | 142,922 | 139,179 | ||
Special Mention | 142,922 | 142,922 | 139,179 | ||
Residential Portfolio Segment [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 995,744 | 995,744 | 980,059 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 977,245 | 977,245 | 623,192 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 597,869 | 597,869 | 683,049 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 616,859 | 616,859 | 505,963 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 437,401 | 437,401 | 455,690 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,506,720 | 1,506,720 | 935,539 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 5,131,838 | 5,131,838 | 4,183,492 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 3 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |||
YTD period charge-offs, Revolving Loans | 58 | 0 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period charge-offs | 58 | 3 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | (45) | (208) | |||
YTD period recoveries, Revolving Loans | 0 | 0 | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period recoveries | (45) | (208) | |||
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2017 | 0 | 3 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year Prior | (45) | (208) | |||
Net charge-offs/(recoveries), Revolving Loans | 58 | 0 | |||
Net charge-offs/(recoveries), Revolving Converted to Term Loans | 0 | 0 | |||
Net charge-offs/(recoveries) | 13 | (205) | |||
Net charge-offs/(recoveries) | 13 | (205) | |||
Special Mention | 5,131,838 | 5,131,838 | 4,183,492 | ||
Residential Portfolio Segment [Member] | Pass [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 995,736 | 995,736 | 978,375 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 976,137 | 976,137 | 622,999 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 595,493 | 595,493 | 678,775 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 610,410 | 610,410 | 502,325 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 433,398 | 433,398 | 453,992 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,495,370 | 1,495,370 | 929,846 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 5,106,544 | 5,106,544 | 4,166,312 | ||
Special Mention | 5,106,544 | 5,106,544 | 4,166,312 | ||
Residential Portfolio Segment [Member] | Special Mention [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | 46 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 33 | 33 | 1,576 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 1,552 | 1,552 | 1,064 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 755 | 755 | 836 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 911 | 911 | 438 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 3,251 | 3,251 | 3,960 | ||
Special Mention | 3,251 | 3,251 | 3,960 | ||
Residential Portfolio Segment [Member] | Substandard [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 8 | 8 | 1,684 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 1,108 | 1,108 | 147 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 2,343 | 2,343 | 2,698 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 4,897 | 4,897 | 2,574 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 3,248 | 3,248 | 862 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 10,439 | 10,439 | 5,255 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 22,043 | 22,043 | 13,220 | ||
Special Mention | 22,043 | 22,043 | 13,220 | ||
Equity Lines Portfolio Segment [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 924 | 924 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 5 | ||
Total, Revolving Loans | 328,002 | 328,002 | 390,299 | ||
Total, Revolving Converted to Term Loans | 23,465 | 23,465 | 30,298 | ||
Total loans | 352,391 | 352,391 | 420,602 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |||
YTD period charge-offs, Revolving Loans | 0 | 0 | |||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period charge-offs | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |||
YTD period recoveries, Revolving Loans | (8) | (10) | |||
YTD period recoveries, Revolving Converted to Term Loans | (12) | (64) | |||
YTD period recoveries | (20) | (74) | |||
Net, Loans Amortized Cost Basis by Origination Year 2021 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |||
Net charge-offs/(recoveries), Revolving Loans | (8) | (10) | |||
Net charge-offs/(recoveries), Revolving Converted to Term Loans | (12) | (64) | |||
Net charge-offs/(recoveries) | (20) | (74) | |||
Net charge-offs/(recoveries) | (20) | (74) | |||
Special Mention | 352,391 | 352,391 | 420,602 | ||
Equity Lines Portfolio Segment [Member] | Pass [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 878 | 878 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 5 | ||
Total, Revolving Loans | 325,751 | 325,751 | 389,069 | ||
Total, Revolving Converted to Term Loans | 23,229 | 23,229 | 30,025 | ||
Total loans | 349,858 | 349,858 | 419,099 | ||
Special Mention | 349,858 | 349,858 | 419,099 | ||
Equity Lines Portfolio Segment [Member] | Special Mention [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 28 | 28 | |||
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 | 28 | 28 | |||
Special Mention | 28 | 28 | |||
Equity Lines Portfolio Segment [Member] | Substandard [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 18 | 18 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 0 | ||
Total, Revolving Loans | 2,251 | 2,251 | 1,230 | ||
Total, Revolving Converted to Term Loans | 236 | 236 | 273 | ||
Total loans | 2,505 | 2,505 | 1,503 | ||
Special Mention | 2,505 | 2,505 | 1,503 | ||
Installment and Other Loans [Member ] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 1,246 | 1,246 | 4,117 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 4,848 | 4,848 | 168 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 98 | 98 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 6,192 | 6,192 | 4,285 | ||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2021 | 80 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
YTD period charge-offs, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |||
YTD period charge-offs, Revolving Loans | 0 | ||||
YTD period charge-offs, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period charge-offs | 79 | 0 | 80 | 0 | 0 |
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2021 | (1) | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
YTD period recoveries, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |||
YTD period recoveries, Revolving Loans | 0 | 0 | |||
YTD period recoveries, Revolving Converted to Term Loans | 0 | 0 | |||
YTD period recoveries | 0 | 0 | (1) | 0 | 0 |
Net, Loans Amortized Cost Basis by Origination Year 2021 | 79 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2020 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2019 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | |||
Net charge-offs/(recoveries), Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |||
Net charge-offs/(recoveries), Revolving Loans | 0 | 0 | |||
Net charge-offs/(recoveries), Revolving Converted to Term Loans | 0 | 0 | |||
Net charge-offs/(recoveries) | 79 | 0 | 79 | 0 | 0 |
Net charge-offs/(recoveries) | 79 | $ 0 | 79 | $ 0 | 0 |
Special Mention | 6,192 | 6,192 | 4,285 | ||
Installment and Other Loans [Member ] | Pass [Member] | |||||
Total, Loans Amortized Cost Basis by Origination Year 2021 | 1,246 | 1,246 | 4,117 | ||
Total, Loans Amortized Cost Basis by Origination Year 2020 | 4,848 | 4,848 | 168 | ||
Total, Loans Amortized Cost Basis by Origination Year 2019 | 98 | 98 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2018 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year 2017 | 0 | 0 | 0 | ||
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | 0 | ||
Total, Revolving Loans | 0 | 0 | 0 | ||
Total, Revolving Converted to Term Loans | 0 | 0 | 0 | ||
Total loans | 6,192 | 6,192 | 4,285 | ||
Special Mention | $ 6,192 | $ 6,192 | $ 4,285 |
Note 9 - Loans - Activity in th
Note 9 - Loans - Activity in the Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | ||
Balance | $ 148,772 | $ 131,256 | $ 136,157 | $ 166,538 | $ 166,538 | |
Provision/(reversal) for possible credit losses | 602 | 3,000 | 12,709 | (15,710) | ||
Charge-offs | (2,228) | (2,652) | (2,500) | (19,502) | ||
Recoveries | 1,671 | 341 | 2,451 | 2,179 | ||
Net (charge-offs)/recoveries | (557) | (2,311) | (49) | (17,323) | (17,611) | |
Balance | 148,817 | 131,945 | 148,817 | 131,945 | 136,157 | |
Charge-offs | (2,228) | (2,652) | (2,500) | (19,502) | ||
Recoveries | 1,671 | 341 | 2,451 | 2,179 | ||
Commitments to Extend Credit [Member] | ||||||
Balance | 6,136 | 8,050 | 7,100 | 5,880 | 5,880 | |
Provision/(reversal) for possible credit losses | 1,398 | 50 | 434 | (3,798) | ||
Balance | 7,534 | 8,100 | 7,534 | 8,100 | 7,100 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | (1,560) | (1,560) | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | [1] | 6,018 | 6,018 | |||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Balance | 164,978 | 164,978 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | 11,898 | 11,898 | ||||
Commercial Portfolio Segment [Member] | ||||||
Balance | 49,069 | 40,067 | 43,394 | 68,742 | 68,742 | |
Provision/(reversal) for possible credit losses | 1,845 | 674 | 7,258 | 18,891 | ||
Charge-offs | (2,091) | (2,649) | (2,362) | (19,499) | (20,051) | |
Recoveries | 1,576 | 121 | 2,109 | 1,545 | 1,706 | |
Net (charge-offs)/recoveries | (515) | (2,528) | (253) | (17,954) | (18,345) | |
Balance | 50,399 | 38,213 | 50,399 | 38,213 | 43,394 | |
Charge-offs | (2,091) | (2,649) | (2,362) | (19,499) | (20,051) | |
Recoveries | 1,576 | 121 | 2,109 | 1,545 | 1,706 | |
Commercial Portfolio Segment [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | 2,804 | 4,388 | 3,725 | 4,802 | 4,802 | |
Provision/(reversal) for possible credit losses | 1,576 | 329 | 655 | (3,321) | ||
Balance | 4,380 | 4,717 | 4,380 | 4,717 | 3,725 | |
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | (31,466) | (31,466) | ||||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | [1] | 3,236 | 3,236 | |||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Balance | 37,276 | 37,276 | ||||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | 8,038 | 8,038 | ||||
Real Estate Construction Portfolio Segment [Member] | ||||||
Balance | 7,276 | 6,119 | 6,302 | 30,854 | 30,854 | |
Provision/(reversal) for possible credit losses | (1,065) | 149 | (97) | (279) | ||
Charge-offs | 0 | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 76 | 6 | 76 | 76 | |
Net (charge-offs)/recoveries | 0 | 76 | 6 | 76 | 76 | |
Balance | 6,211 | 6,344 | 6,211 | 6,344 | 6,302 | |
Charge-offs | 0 | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 76 | 6 | 76 | 76 | |
Real Estate Construction Portfolio Segment [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | 3,306 | 3,581 | 3,375 | 690 | 690 | |
Provision/(reversal) for possible credit losses | (152) | (396) | (221) | (640) | ||
Balance | 3,154 | 3,185 | 3,154 | 3,185 | 3,375 | |
Real Estate Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | (24,307) | (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] | ||||||
Balance | [1] | 3,135 | 3,135 | |||
Real Estate Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Balance | 6,547 | 6,547 | ||||
Real Estate Construction Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | 3,825 | 3,825 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Balance | 68,600 | 58,026 | 61,081 | 49,205 | 49,205 | |
Provision/(reversal) for possible credit losses | 1,362 | 2,786 | 8,699 | (23,526) | ||
Charge-offs | 0 | 0 | 0 | 0 | 0 | |
Recoveries | 88 | 144 | 270 | 284 | 379 | |
Net (charge-offs)/recoveries | 88 | 144 | 270 | 284 | 379 | |
Balance | 70,050 | 60,956 | 70,050 | 60,956 | 61,081 | |
Charge-offs | 0 | 0 | 0 | 0 | 0 | |
Recoveries | 88 | 144 | 270 | 284 | 379 | |
Commercial Real Estate Portfolio Segment [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | 26 | 81 | 0 | 101 | 101 | |
Provision/(reversal) for possible credit losses | (26) | 117 | 0 | 163 | ||
Balance | 0 | 198 | 0 | 198 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | 34,993 | 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] | ||||||
Balance | [1] | (66) | (66) | |||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Balance | 84,198 | 84,198 | ||||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | 35 | 35 | ||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||||
Balance | 23,692 | 27,043 | 25,379 | 17,737 | 17,737 | |
Provision/(reversal) for possible credit losses | (1,612) | (609) | (3,357) | (10,788) | ||
Charge-offs | (58) | (3) | (58) | (3) | ||
Recoveries | 7 | 0 | 65 | 274 | ||
Net (charge-offs)/recoveries | (51) | (3) | 7 | 271 | ||
Balance | 22,029 | 26,431 | 22,029 | 26,431 | 25,379 | |
Charge-offs | (58) | (3) | (58) | (3) | ||
Recoveries | 7 | 0 | 65 | 274 | ||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | 0 | 0 | 0 | 284 | 284 | |
Provision/(reversal) for possible credit losses | 0 | 0 | 0 | 0 | ||
Balance | 0 | 0 | 0 | 0 | 0 | |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | 19,211 | 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] | ||||||
Balance | [1] | (284) | (284) | |||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Balance | 36,948 | 36,948 | ||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | 0 | 0 | ||||
Installment and Other Loans [Member ] | ||||||
Balance | 135 | 1 | 1 | 0 | 0 | |
Provision/(reversal) for possible credit losses | 72 | 0 | 206 | (8) | ||
Charge-offs | (79) | 0 | (80) | 0 | 0 | |
Recoveries | 0 | 0 | 1 | 0 | 0 | |
Net (charge-offs)/recoveries | (79) | 0 | (79) | 0 | 0 | |
Balance | 128 | 1 | 128 | 1 | 1 | |
Charge-offs | (79) | 0 | (80) | 0 | 0 | |
Recoveries | 0 | 0 | 1 | 0 | 0 | |
Installment and Other Loans [Member ] | Commitments to Extend Credit [Member] | ||||||
Balance | 0 | 0 | 0 | 3 | 3 | |
Provision/(reversal) for possible credit losses | 0 | 0 | 0 | 0 | ||
Balance | $ 0 | $ 0 | $ 0 | 0 | 0 | |
Installment and Other Loans [Member ] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | 9 | 9 | ||||
Installment and Other Loans [Member ] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | [1] | (3) | (3) | |||
Installment and Other Loans [Member ] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Balance | 9 | 9 | ||||
Installment and Other Loans [Member ] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commitments to Extend Credit [Member] | ||||||
Balance | $ 0 | $ 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 $5.5 million. |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Qualified Affordable Housing and Alternative Energy Partnerships [Member] | ||
Other Commitment, Total | $ 152.2 | $ 107.7 |
Note 11 - Borrowed Funds (Detai
Note 11 - Borrowed Funds (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Securities Sold under Agreements to Repurchase, Total | $ 225,000 | $ 0 |
Advance from Federal Home Loan Bank, Total | 360,000 | 20,000 |
Junior Subordinated Notes, Noncurrent | $ 119,100 | $ 119,100 |
Junior Subordinated Debt [Member] | ||
Debt Instrument, Interest Rate, Effective Percentage | 5.59% | 2.38% |
Debt Instrument, Term (Year) | 30 years | |
Mature in October 2022 [Member] | ||
Advance from Federal Home Loan Bank, Total | $ 325,000 | |
Mature in May 2023 [Member] | ||
Advance from Federal Home Loan Bank, Total | 20,000 | |
Mature in September 2024 [Member] | ||
Advance from Federal Home Loan Bank, Total | 15,000 | |
Non Overnight Borrowings [Member] | ||
Advance from Federal Home Loan Bank, Total | $ 360,000 | $ 20,000 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 3.10% | 2.89% |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 22.90% | 21.30% |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Open Tax Year | 2018 2019 2020 2021 2022 | |
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | ||
Open Tax Year | 2017 2018 2019 2020 2021 2022 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 4,067 | $ 4,368 |
Minimum [Member] | ||
Estimated Sales Cost Applied To Collateral | 3% | |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.0421 | |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.1945 | |
Minimum [Member] | Warrants Outstanding [Member] | ||
Expected Life Of Warrants (Year) | 1 year | |
Maximum [Member] | ||
Estimated Sales Cost Applied To Collateral | 6% | |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.0449 | |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.2529 | |
Maximum [Member] | Warrants Outstanding [Member] | ||
Expected Life Of Warrants (Year) | 5 years | |
Net of Estimated Disposal Costs [Member] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 4,100 | $ 4,400 |
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 | Sep. 30, 2022 | Dec. 31, 2021 |
Securities available-for-sale | $ 1,414,411 | $ 1,127,309 |
Equity securities | 23,123 | 22,319 |
Assets, fair value disclosure | 1,536,830 | 1,160,854 |
Liabilities, fair value disclosure | 56,497 | 12,969 |
Mutual Funds [Member] | ||
Equity securities | 5,497 | 6,230 |
Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 2,110 | 1,811 |
Other Equity Securities [Member] | ||
Equity securities | 15,516 | 14,278 |
Warrant [Member] | ||
Assets, fair value disclosure | 46 | 23 |
Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 98,498 | 10,090 |
Liabilities, fair value disclosure | 54,443 | 12,642 |
Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 752 | 1,113 |
Liabilities, fair value disclosure | 2,054 | 327 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 241,400 | 0 |
Equity securities | 23,123 | 22,319 |
Assets, fair value disclosure | 264,523 | 22,319 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member] | ||
Equity securities | 5,497 | 6,230 |
Fair Value, Inputs, Level 1 [Member] | Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 2,110 | 1,811 |
Fair Value, Inputs, Level 1 [Member] | Other Equity Securities [Member] | ||
Equity securities | 15,516 | 14,278 |
Fair Value, Inputs, Level 1 [Member] | Warrant [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 1,173,011 | 1,127,309 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 1,272,261 | 1,138,512 |
Liabilities, fair value disclosure | 56,497 | 12,969 |
Fair Value, Inputs, Level 2 [Member] | Mutual Funds [Member] | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Other Equity Securities [Member] | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Warrant [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 98,498 | 10,090 |
Liabilities, fair value disclosure | 54,443 | 12,642 |
Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 752 | 1,113 |
Liabilities, fair value disclosure | 2,054 | 327 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 46 | 23 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mutual Funds [Member] | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Other Equity Securities [Member] | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Warrant [Member] | ||
Assets, fair value disclosure | 46 | 23 |
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
US Treasury Securities [Member] | ||
Securities available-for-sale | 241,400 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 241,400 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 0 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | |
US Government Corporations and Agencies Securities [Member] | ||
Securities available-for-sale | 69,112 | 87,509 |
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 | 69,112 | 87,509 |
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 | 861,488 | 888,665 |
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 | 861,488 | 888,665 |
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 | 31,709 | 9,117 |
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 | 31,709 | 9,117 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale | 210,702 | 142,018 |
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 | 210,702 | 142,018 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | $ 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 | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Assets, fair value disclosure | $ 1,536,830 | $ 1,536,830 | $ 1,160,854 | ||||
Total Losses | 1,786 | $ (47) | 1,786 | $ 2,172 | 1,172 | $ 7,836 | |
Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 28,364 | 28,364 | 28,446 | ||||
Fair Value, Inputs, Level 1 [Member] | |||||||
Assets, fair value disclosure | 264,523 | 264,523 | 22,319 | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | |||||||
Assets, fair value disclosure | 1,272,261 | 1,272,261 | 1,138,512 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | |||||||
Assets, fair value disclosure | 46 | 46 | 23 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 28,364 | 28,364 | 28,446 | ||||
Impaired Loans [Member] | |||||||
Total Losses | 1,786 | 0 | 1,786 | 2,037 | 1,012 | 7,012 | |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 23,259 | 23,259 | 22,905 | ||||
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 23,259 | 23,259 | 22,905 | ||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | |||||||
Total Losses | 1,786 | 0 | 1,786 | 2,037 | 1,012 | 7,012 | |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 6,887 | 6,887 | 4,327 | ||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 6,887 | 6,887 | 4,327 | ||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 0 | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 10,956 | 10,956 | 13,335 | ||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 10,956 | 10,956 | 13,335 | ||||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | |||||||
Assets, fair value disclosure | 5,407 | 5,407 | 5,243 | ||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 0 | |
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Assets, fair value disclosure | 5,407 | 5,407 | 5,243 | ||||
Impaired Loans [Member] | Other Installment Loans [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 9 | 9 | |||||
Total Losses | 0 | 0 | 0 | 0 | |||
Impaired Loans [Member] | Other Installment Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | |||||
Impaired Loans [Member] | Other Installment Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | |||||
Impaired Loans [Member] | Other Installment Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 9 | 9 | |||||
Other Real Estate Owned [Member] | |||||||
Total Losses | [1] | 0 | (55) | 0 | (8) | 17 | 717 |
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | [1] | 4,269 | 4,269 | 4,589 | |||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | [1] | 0 | 0 | 0 | |||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | [1] | 0 | 0 | 0 | |||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | [1] | 4,269 | 4,269 | 4,589 | |||
Investments in Venture Capital [Member] | |||||||
Total Losses | 0 | $ 8 | 0 | $ 143 | 143 | $ 107 | |
Investments in Venture Capital [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 836 | 836 | 952 | ||||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | 0 | 0 | 0 | ||||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||||
Assets, fair value disclosure | $ 836 | $ 836 | $ 952 | ||||
[1]Other real estate owned balance of $4.1 million in the Consolidated Balance Sheets is net of estimated disposal costs. |
Note 13 - Fair Value Measurem_6
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | |
Securities available-for-sale | $ 1,414,411 | $ 1,127,309 | |
Equity securities | 23,123 | 22,319 | |
Warrants | 98,498 | 10,090 | |
Foreign exchange contracts with gain | 162,518 | 181,997 | |
Foreign exchange contracts with gain, fair value | 752 | 1,113 | |
Interest rate swaps | 1,464,567 | 904,635 | |
Interest rate swaps, fair value | 98,498 | 10,090 | |
Option contracts | 0 | 676 | |
Option contracts, fair value | 0 | 3 | |
Foreign exchange contracts with loss | 45,990 | 51,782 | |
Foreign exchange contracts with loss, fair value | 2,054 | 327 | |
Interest rate swaps | 691,872 | 872,400 | |
Interest rate swaps, fair value | 54,443 | 12,642 | |
Commitments to extend credit | 3,537,547 | 3,297,362 | |
Commitments to extend credit, fair value | (14,650) | (12,594) | |
Standby letters of credit | 290,618 | 266,490 | |
Standby letters of credit, fair value | (2,048) | (2,640) | |
Other letters of credit | 13,070 | 16,652 | |
Other letters of credit, fair value | (12) | (13) | |
Reported Value Measurement [Member] | |||
Cash and due from banks | 200,051 | 134,141 | |
Short-term investments | 1,063,294 | 2,315,563 | |
Securities available-for-sale | 1,414,411 | 1,127,309 | |
Loans, net | 17,951,050 | 16,202,001 | |
Equity securities | 23,123 | 22,319 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 18,575,751 | 18,058,842 | |
Advances from Federal Home Loan Bank | 360,000 | 20,000 | |
Other borrowings | 22,651 | 23,145 | |
Long-term debt | 119,136 | 119,136 | |
Reported Value Measurement [Member] | Warrants [Member] | |||
Warrants | 46 | 23 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 200,051 | 134,141 | |
Short-term investments | 1,063,294 | 2,315,563 | |
Securities available-for-sale | 1,414,411 | 1,127,309 | |
Loans, net | [1] | 17,676,365 | 16,499,869 |
Equity securities | 23,123 | 22,319 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 18,573,442 | 18,051,720 | |
Advances from Federal Home Loan Bank | 359,416 | 21,279 | |
Other borrowings | 18,357 | 18,945 | |
Long-term debt | 56,317 | 62,274 | |
Estimate of Fair Value Measurement [Member] | Warrants [Member] | |||
Warrants | $ 46 | $ 23 | |
[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 | Sep. 30, 2022 | Dec. 31, 2021 | |
Debt Securities, Available-for-Sale, Total | $ 1,414,411 | $ 1,127,309 | |
Equity securities | 23,123 | 22,319 | |
Warrants | 98,498 | 10,090 | |
Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-Sale, Total | 241,400 | 0 | |
Equity securities | 23,123 | 22,319 | |
Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-Sale, Total | 1,173,011 | 1,127,309 | |
Equity securities | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Equity securities | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 200,051 | 134,141 | |
Short-term investments | 1,063,294 | 2,315,563 | |
Debt Securities, Available-for-Sale, Total | 1,414,411 | 1,127,309 | |
Loans, net | [1] | 17,676,365 | 16,499,869 |
Equity securities | 23,123 | 22,319 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 18,573,442 | 18,051,720 | |
Advances from Federal Home Loan Bank | 359,416 | 21,279 | |
Other borrowings | 18,357 | 18,945 | |
Long-term debt | 56,317 | 62,274 | |
Estimate of Fair Value Measurement [Member] | Warrants [Member] | |||
Warrants | 46 | 23 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and due from banks | 200,051 | 134,141 | |
Short-term investments | 1,063,294 | 2,315,563 | |
Debt Securities, Available-for-Sale, Total | 241,400 | 0 | |
Loans, net | [1] | 0 | 0 |
Equity securities | 23,123 | 22,319 | |
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 | |
Debt Securities, Available-for-Sale, Total | 1,173,011 | 1,127,309 | |
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 | 359,416 | 21,279 | |
Other borrowings | 0 | 0 | |
Long-term debt | 56,317 | 62,274 | |
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 | |
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Loans, net | [1] | 17,676,365 | 16,499,869 |
Equity securities | 0 | 0 | |
Investment in Federal Home Loan Bank stock | 0 | 0 | |
Deposits | 18,573,442 | 18,051,720 | |
Advances from Federal Home Loan Bank | 0 | 0 | |
Other borrowings | 18,357 | 18,945 | |
Long-term debt | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Warrants [Member] | |||
Warrants | $ 46 | $ 23 | |
[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 | Feb. 07, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Goodwill, Ending Balance | $ 375,696 | $ 372,189 | |
HSBC Bank USA West Coast Mass Market Consumer and Retail Banking Business [Member] | |||
Goodwill, Ending Balance | $ 3,507 | ||
Goodwill, Acquired During Period | $ 3,500 |
Note 15 - Financial Derivativ_3
Note 15 - Financial Derivatives (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
May 31, 2014 | Sep. 30, 2022 | Dec. 31, 2021 | |
Junior Subordinated Notes, Total | $ 119,100 | ||
Cash [Member] | |||
Collateral Already Posted, Aggregate Fair Value | $ 0 | $ 5,900 | |
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 | $ 877,188 | $ 729,280 | |
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] | |||
Hedged Asset, Fair Value Hedge | $ 670,200 | ||
Loan, Notational Amount | 1,200 | ||
Hedged Asset, Fair Value Hedge, Last-of-Layer, Amount | 670,200 | ||
Hedged Asset, Fair Value Hedge, Last-of-Layer, Cumulative Increase (Decrease) | $ 32,800 |
Note 15 - Financial Derivativ_4
Note 15 - Financial Derivatives - Cash Flow Swap Hedges (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | ||
Unrealized loss, net of taxes | $ 1,645 | $ 492 | $ 5,803 | $ 2,194 | ||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||||
Notional | $ 119,136 | $ 119,136 | $ 119,136 | |||
Weighted average fixed rate-pay | 2.61% | 2.61% | 2.61% | |||
Weighted average variable rate-receive | 2.07% | 2.07% | 0.16% | |||
Unrealized loss, net of taxes | [1] | $ 2,527 | $ (3,276) | |||
Periodic net settlement of swaps | [2] | $ 138 | $ 754 | $ 1,311 | $ 2,196 | |
[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 | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | ||
Unrealized gain/(loss), net of taxes (1) | $ 5,803 | $ 2,194 | ||||
Periodic net settlement of SWAPs | [1] | $ 1,461 | $ (2,363) | (1,628) | $ (7,137) | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||||||
Derivative, Notional Amount | $ 877,188 | $ 877,188 | $ 729,280 | |||
Weighted average fixed rate-pay | 2.14% | 2.14% | 2.65% | |||
Weighted average variable rate-receive | 1.98% | 1.98% | 1.43% | |||
Unrealized gain/(loss), net of taxes (1) | [2] | $ 40,465 | $ (1,013) | |||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Weighted average variable rate spread | 0.54% | 0.54% | 1.31% | |||
[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 | Sep. 30, 2022 | Dec. 31, 2021 |
Foreign Exchange Forward [Member] | ||
Notional | $ 0 | $ 676 |
Option contracts | 0 | 3 |
Spot, Forward, and Swap Contracts with Positive Fair Value [Member] | ||
Notional | 162,518 | 181,997 |
Option contracts | 752 | 1,113 |
Spot, Forward, and Swap Contracts with Negative Fair Value [Member] | ||
Notional | 45,990 | 51,782 |
Option contracts | $ (2,054) | $ (327) |
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 ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Derivative assets, gross | $ 98,498,000 | $ 10,090,000 |
Derivative assets, net | 98,498,000 | 10,090,000 |
Derivatives, collateral posted | 95,783,000 | |
Derivative assets not offset | 2,715,000 | 10,090,000 |
Derivative liabilities, gross | 54,443,000 | 15,748,000 |
Derivative liabilities, net | 54,443,000 | 12,642,000 |
Derivatives | $ 54,443 | 12,642,000 |
Derivatives | $ (3,106) |
Note 17 - Revenue from Contra_3
Note 17 - Revenue from Contracts with Customers - Summary of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Revenues | $ 11,033 | $ 9,443 | $ 32,373 | $ 28,569 | |
Noninterest income, not in-scope(2) | [1],[2] | (1,157) | 2,773 | 12,353 | 6,230 |
Total non-interest income | 9,876 | 12,216 | 44,726 | 34,799 | |
Fees and Services Charges on Deposit Account [Member] | |||||
Revenues | 2,398 | 2,130 | 7,156 | 6,386 | |
Wealth Management Fees [Member] | |||||
Revenues | 4,184 | 3,578 | 12,494 | 11,074 | |
Other Service Fees [Member] | |||||
Revenues | [1] | $ 4,451 | $ 3,735 | $ 12,723 | $ 11,109 |
[1]Other service fees comprise 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 interest rate swaps, unrealized net gains on equity securities and other miscellaneous income. |
Note 18 - Stockholders' Equit_2
Note 18 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Stockholders' Equity Attributable to Parent, Ending Balance | $ 2,419,559 | $ 2,463,291 | $ 2,419,559 | $ 2,463,291 | $ 2,431,532 | $ 2,446,251 | $ 2,452,357 | $ 2,418,144 |
Stockholders' Equity, Period Increase (Decrease), Total | 26,700 | |||||||
Net Income (Loss) Attributable to Parent, Total | 99,035 | 72,397 | 263,041 | 222,980 | ||||
Share-Based Payment Arrangement, Noncash Expense, Total | 5,200 | |||||||
Proceeds from Issuance of Common Stock, Dividend Reinvestment Plan | 2,793 | 2,619 | ||||||
Stock Issued During Period, Value, Issued for Services | 849 | 850 | ||||||
Other Comprehensive Income (Loss), Net of Tax, Total | (41,546) | (2,740) | (109,809) | (5,678) | ||||
Treasury Stock, Value, Acquired, Cost Method | 46,290 | 37,139 | 109,774 | 100,668 | ||||
Dividends, Common Stock, Cash | 25,059 | 24,137 | 76,111 | 73,335 | ||||
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation | $ 849 | $ 38 | $ 2,864 | $ 2,632 |
Note 18 - Stockholders' Equit_3
Note 18 - Stockholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Beginning balance, loss, net of tax | $ 2,431,532 | $ 2,452,357 | $ 2,446,251 | $ 2,418,144 |
Total other comprehensive (loss)/income, net of tax | (41,546) | (2,740) | (109,809) | (5,678) |
Ending balance, loss, net of tax | 2,419,559 | 2,463,291 | 2,419,559 | 2,463,291 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||
Beginning balance, loss, net of tax | (72,210) | 7,560 | 211 | 12,200 |
Net unrealized (losses)/gains arising during the period, pre-tax | (61,316) | (4,588) | (164,128) | (10,322) |
Net unrealized (losses)/gains arising during the period, tax | (18,125) | (1,356) | (48,516) | (3,051) |
Net unrealized (losses)/gains arising during the period, net of tax | (43,191) | (3,232) | (115,612) | (7,271) |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 0 | 0 | 0 | 853 |
Reclassification adjustment for net losses/(gains) included in net income, tax | 0 | 0 | 0 | 252 |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 0 | 0 | 0 | 601 |
Total other comprehensive (loss)/income, pre-tax | (61,316) | (4,588) | (164,128) | (11,175) |
Total other comprehensive (loss)/income, tax | (18,125) | (1,356) | (48,516) | (3,303) |
Total other comprehensive (loss)/income, net of tax | (43,191) | (3,232) | (115,612) | (7,872) |
Ending balance, loss, net of tax | (115,401) | 4,328 | (115,401) | 4,328 |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||
Beginning balance, loss, net of tax | 882 | (5,188) | (3,276) | (6,890) |
Net unrealized (losses)/gains arising during the period, pre-tax | 2,677 | 2,224 | 11,060 | 7,600 |
Net unrealized (losses)/gains arising during the period, tax | 791 | 657 | 3,269 | 2,247 |
Net unrealized (losses)/gains arising during the period, net of tax | 1,886 | 1,567 | 7,791 | 5,353 |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 342 | 1,526 | 2,822 | 4,485 |
Reclassification adjustment for net losses/(gains) included in net income, tax | 101 | 451 | 834 | 1,326 |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 241 | 1,075 | 1,988 | 3,159 |
Total other comprehensive (loss)/income, pre-tax | 2,335 | 698 | 8,238 | 3,115 |
Total other comprehensive (loss)/income, tax | 690 | 206 | 2,435 | 921 |
Total other comprehensive (loss)/income, net of tax | 1,645 | 492 | 5,803 | 2,194 |
Ending balance, loss, net of tax | 2,527 | (4,696) | 2,527 | (4,696) |
AOCI Attributable to Parent [Member] | ||||
Beginning balance, loss, net of tax | (71,328) | 2,372 | (3,065) | 5,310 |
Net unrealized (losses)/gains arising during the period, pre-tax | (58,639) | (2,364) | (153,068) | (2,722) |
Net unrealized (losses)/gains arising during the period, tax | (17,334) | (699) | (45,247) | (804) |
Net unrealized (losses)/gains arising during the period, net of tax | (41,305) | (1,665) | (107,821) | (1,918) |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 342 | 1,526 | 2,822 | 5,338 |
Reclassification adjustment for net losses/(gains) included in net income, tax | 101 | 451 | 834 | 1,578 |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 241 | 1,075 | 1,988 | 3,760 |
Total other comprehensive (loss)/income, pre-tax | (58,981) | (3,890) | (155,890) | (8,060) |
Total other comprehensive (loss)/income, tax | (17,435) | (1,150) | (46,081) | (2,382) |
Total other comprehensive (loss)/income, net of tax | (41,546) | (2,740) | (109,809) | (5,678) |
Ending balance, loss, net of tax | $ (112,874) | $ (368) | $ (112,874) | $ (368) |
Note 19 - Stock Repurchase Pr_2
Note 19 - Stock Repurchase Program (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | May 26, 2022 | |
Stock Repurchase Program, Authorized Amount | $ 125,000 | ||||
Treasury Stock, Shares, Acquired (in shares) | 1,080 | ||||
Treasury Stock, Value, Acquired, Cost Method | $ 46,290 | $ 37,139 | $ 109,774 | $ 100,668 | |
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 42.88 |