Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2023 | Apr. 30, 2023 | |
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 | Q1 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
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 | 72,535,694 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and due from banks | $ 252,048 | $ 195,440 |
Short-term investments and interest-bearing deposits | 881,282 | 966,962 |
Securities available-for-sale (amortized cost of $1,672,440 at March 31, 2023 and $1,622,173 at December 31, 2022) | 1,541,250 | 1,473,348 |
Loans | 18,317,339 | 18,254,024 |
Less: Allowance for loan losses | (144,884) | (146,485) |
Unamortized deferred loan fees, net | (5,872) | (6,641) |
Loans, net | 18,166,583 | 18,100,898 |
Equity securities | 27,011 | 22,158 |
Federal Home Loan Bank stock | 17,250 | 17,250 |
Other real estate owned, net | 4,067 | 4,067 |
Affordable housing investments and alternative energy partnerships, net | 316,475 | 327,128 |
Premises and equipment, net | 93,204 | 94,776 |
Customers’ liability on acceptances | 6,547 | 2,372 |
Accrued interest receivable | 82,420 | 82,428 |
Goodwill | 375,696 | 375,696 |
Other intangible assets, net | 5,564 | 5,757 |
Right-of-use assets - operating leases | 29,906 | 29,627 |
Other assets | 232,298 | 250,069 |
Total assets | 22,031,601 | 21,947,976 |
Deposits: | ||
Non-interest-bearing demand deposits | 3,748,719 | 4,168,989 |
Interest-bearing deposits: | ||
NOW deposits | 2,354,195 | 2,509,736 |
Money market deposits | 3,014,500 | 3,812,724 |
Savings deposits | 891,061 | 1,000,460 |
Time deposits | 8,640,397 | 7,013,370 |
Total deposits | 18,648,872 | 18,505,279 |
Advances from the Federal Home Loan Bank | 360,000 | 485,000 |
Other borrowings of affordable housing investments | 22,481 | 22,600 |
Long-term debt | 119,136 | 119,136 |
Acceptances outstanding | 6,547 | 2,372 |
Lease liabilities - operating leases | 32,599 | 32,518 |
Other liabilities | 299,627 | 307,031 |
Total liabilities | 19,489,262 | 19,473,936 |
Commitments and contingencies | ||
Stockholders’ Equity | ||
Common stock, $0.01 par value, 100,000,000 shares authorized; 91,113,634 issued and 72,390,694 outstanding at March 31, 2023, and 91,090,614 issued and 72,742,151 outstanding at December 31, 2022 | 911 | 911 |
Additional paid-in-capital | 983,534 | 981,119 |
Accumulated other comprehensive income/(loss), net | (91,077) | (102,295) |
Retained earnings | 2,316,258 | 2,244,856 |
Treasury stock, at cost (18,722,940 shares at March 31, 2023, and 18,348,463 shares at December 31, 2022) | (667,287) | (650,551) |
Total equity | 2,542,339 | 2,474,040 |
Total liabilities and equity | $ 22,031,601 | $ 21,947,976 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Securities available-for-sale, amortized cost | $ 1,672,440 | $ 1,622,173 |
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) | 91,113,634 | 91,090,614 |
Common stock, shares outstanding (in shares) | 72,390,694 | 72,742,151 |
Treasury stock, shares (in shares) | 18,722,940 | 18,348,463 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Interest and Dividend Income | ||
Loans receivable | $ 261,179 | $ 166,094 |
Investment securities | 11,764 | 4,828 |
Federal Home Loan Bank stock | 304 | 261 |
Deposits with banks | 12,139 | 763 |
Total interest and dividend income | 285,386 | 171,946 |
Interest Expense | ||
Time deposits | 64,174 | 6,060 |
Other deposits | 23,817 | 5,128 |
Advances from Federal Home Loan Bank | 2,598 | 143 |
Long-term debt | 1,443 | 1,424 |
Short-term debt | 919 | 0 |
Total interest expense | 92,951 | 12,755 |
Net interest income before provision for credit losses | 192,435 | 159,191 |
Provision for credit losses | (8,100) | (8,643) |
Net interest income after provision for credit losses | 184,335 | 150,548 |
Non-Interest Income | ||
Net gains from equity securities | 4,853 | 5,974 |
Securities losses, net | (3,000) | 0 |
Letters of credit commissions | 1,570 | 1,556 |
Other operating income | 5,092 | 6,677 |
Total non-interest income | 14,244 | 20,232 |
Non-Interest Expense | ||
Salaries and employee benefits | 38,226 | 35,475 |
Occupancy expense | 5,504 | 5,613 |
Computer and equipment expense | 4,285 | 2,956 |
Professional services expense | 7,406 | 6,697 |
Data processing service expense | 3,724 | 2,909 |
FDIC and regulatory assessments | 3,155 | 1,802 |
Marketing expense | 774 | 947 |
Other real estate owned expense | 50 | 71 |
Amortization of investments in low income housing and alternative energy partnerships | 15,594 | 8,287 |
Amortization of core deposit intangibles | 250 | 224 |
Acquisition, integration and restructuring costs | 0 | 3,936 |
Other operating expense | 4,218 | 3,780 |
Total non-interest expense | 83,186 | 72,697 |
Income before income tax expense | 115,393 | 98,083 |
Income tax expense | 19,386 | 23,055 |
Net income | 96,007 | 75,028 |
Other Comprehensive Income/(Loss), net of tax | ||
Net holding gains/(losses) on securities available-for-sale | 11,659 | (45,966) |
Net holding (losses)/gains on cash flow hedge derivatives | (441) | 3,054 |
Total other comprehensive income/(loss), net of tax | 11,218 | (42,912) |
Total other comprehensive income | $ 107,225 | $ 32,116 |
Net Income Per Common Share: | ||
Basic (in dollars per share) | $ 1.32 | $ 1 |
Diluted (in dollars per share) | 1.32 | 0.99 |
Cash dividends paid per common share (in dollars per share) | $ 0.34 | $ 0.34 |
Average Common Shares Outstanding: | ||
Basic (in shares) | 72,533,239 | 75,331,976 |
Diluted (in shares) | 72,899,662 | 75,719,375 |
Deposit Account [Member] | ||
Non-Interest Income | ||
Non-Interest Income | $ 1,832 | $ 1,671 |
Asset Management [Member] | ||
Non-Interest Income | ||
Non-Interest Income | $ 3,897 | $ 4,354 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Treasury Stock, Common [Member] | Total |
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) | 21,415 | |||||
Dividend Reinvestment Plan | $ 0 | 945 | 0 | 0 | 0 | 945 |
Restricted stock units vested (in shares) | 10,908 | |||||
Restricted stock units vested | $ 0 | 0 | 0 | 0 | 0 | 0 |
Shares withheld related to net share settlement of RSUs | $ 0 | (285) | 0 | 0 | 0 | (285) |
Purchases of treasury stock (in shares) | (704,927) | |||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (32,896) | (32,896) |
Stock-based compensation | 0 | 1,614 | 0 | 0 | 0 | 1,614 |
Cash dividends | 0 | 0 | 0 | (25,515) | 0 | (25,515) |
Other comprehensive income | 0 | 0 | (42,912) | 0 | 0 | (42,912) |
Net income | $ 0 | 0 | 0 | 75,028 | 0 | 75,028 |
Balance (in shares) at Mar. 31, 2022 | 75,078,258 | |||||
Ending balance, loss, net of tax at Mar. 31, 2022 | $ 909 | 974,748 | (45,977) | 2,034,681 | (542,131) | 2,422,230 |
Balance (in shares) at Dec. 31, 2022 | 72,742,151 | |||||
Beginning balance, loss, net of tax at Dec. 31, 2022 | $ 911 | 981,119 | (102,295) | 2,244,856 | (650,551) | 2,474,040 |
Dividend Reinvestment Plan (in shares) | 23,020 | |||||
Dividend Reinvestment Plan | $ 0 | 918 | 0 | 0 | 0 | 918 |
Restricted stock units vested (in shares) | 613 | |||||
Restricted stock units vested | $ 0 | 0 | 0 | 0 | 0 | 0 |
Shares withheld related to net share settlement of RSUs | $ 0 | (14) | 0 | 0 | 0 | (14) |
Purchases of treasury stock (in shares) | (375,090) | |||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (16,736) | (16,736) |
Stock-based compensation | 0 | 1,511 | 0 | 0 | 0 | 1,511 |
Cash dividends | 0 | 0 | 0 | (24,605) | 0 | (24,605) |
Other comprehensive income | 0 | 0 | 11,218 | 0 | 0 | 11,218 |
Net income | $ 0 | 0 | 0 | 96,007 | 0 | 96,007 |
Balance (in shares) at Mar. 31, 2023 | 72,390,694 | |||||
Ending balance, loss, net of tax at Mar. 31, 2023 | $ 911 | $ 983,534 | $ (91,077) | $ 2,316,258 | $ (667,287) | $ 2,542,339 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Retained Earnings [Member] | ||
Cash dividends (in dollars per share) | $ 0.34 | $ 0.34 |
Cash dividends (in dollars per share) | $ 0.34 | $ 0.34 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Cash Flows from Operating Activities | |||
Net income | $ 96,007 | $ 75,028 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for credit losses | 8,100 | 8,643 | |
Deferred tax (benefit)/ provision | (7,293) | 3,118 | |
Depreciation and amortization | 2,054 | 2,112 | |
Amortization of right-of-use asset | 2,405 | 2,443 | |
Change in operating lease liabilities | 81 | (1,744) | |
Net gains on sale and transfer of other real estate owned | 0 | (6) | |
Loss on sales or disposal of fixed assets | 6 | 25 | |
Amortization on alternative energy partnerships, venture capital and other investments | 15,594 | 8,287 | |
Net gain on sale of equity securities | (15) | (100) | |
Amortization/accretion of security premiums/discounts, net | (1,324) | 1,494 | |
Unrealized gain on equity securities | (4,853) | (5,874) | |
Write-off of AFS debt securities | 3,000 | 0 | |
Stock-based compensation and stock issued to officers as compensation | 1,511 | 1,614 | |
Net change in accrued interest receivable and other assets | 15,623 | (13,309) | |
Net change in other liabilities | (9,730) | 4,726 | |
Net cash provided by operating activities | 121,166 | 86,457 | |
Cash Flows from Investing Activities | |||
Purchase of investment securities available-for-sale | (156,597) | (204,882) | |
Proceeds from repayments, maturities and calls of investment securities available-for-sale | 104,669 | 45,393 | |
Proceeds from sale of equity securities | 0 | 553 | |
Purchase of Federal Home Loan Bank stock | (680) | 0 | |
Redemption of Federal Home Loan Bank stock | 680 | 0 | |
Net increase in loans | (68,133) | (413,721) | |
Purchase of premises and equipment | (295) | (1,276) | |
Proceeds from sales of other real estate owned | 0 | 307 | |
Net (increase)/decrease in investment in affordable housing and alternative energy partnerships | (8,078) | 902 | |
Acquisition, net of cash acquired | 0 | (73,882) | |
Net cash used for investing activities | (128,434) | (646,606) | |
Cash Flows from Financing Activities | |||
Increase/(decrease) in deposits | 143,633 | (573,720) | |
Advances from Federal Home Loan Bank | (125,000) | 0 | |
Cash dividends paid | (24,605) | (25,515) | |
Purchases of treasury stock | (16,736) | (32,896) | |
Proceeds from shares issued under Dividend Reinvestment Plan | 918 | 945 | |
Taxes paid related to net share settlement of RSUs | (14) | (285) | |
Net cash used by financing activities | (21,804) | (631,471) | |
Decrease in cash, cash equivalents, and restricted cash | (29,072) | (1,191,620) | |
Cash, cash equivalents, and restricted cash, beginning of the period | 1,162,402 | 2,449,704 | $ 2,449,704 |
Cash, cash equivalents, and restricted cash, end of the period | 1,133,330 | 1,258,084 | $ 1,162,402 |
Supplemental disclosure of cash flow information | |||
Interest | 86,785 | 12,896 | |
Income taxes paid | 0 | 1,281 | |
Non-cash investing and financing activities: | |||
Net change in unrealized holding gain/(loss) on securities available-for-sale, net of tax | 11,659 | (45,966) | |
Net unrealized gain (1) | $ (441) | $ 3,054 |
Note 1 - Business
Note 1 - Business | 3 Months Ended |
Mar. 31, 2023 | |
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 March 31, 2023, not |
Note 2 - Business Combinations
Note 2 - Business Combinations | 3 Months Ended |
Mar. 31, 2023 | |
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 641,829 Right-of-use assets - operating leases 6,453 Core deposit intangible 3,138 Other 561 Total assets $ 652,454 Liabilities assumed: Deposits $ 575,163 Lease liabilities 6,453 Total liabilities assumed $ 581,616 Net assets acquired $ 70,838 Total cash paid at closing $ 74,355 Goodwill $ 3,517 |
Note 3 - Basis of Presentation
Note 3 - Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2023 | |
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, 2023. 10 December 31, 2022 February 28, 2023 ( “2022 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. |
Note 4 - Recent Accounting Pron
Note 4 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 4. Accounting Standards Adopted in 2023 In March 2022, 2022 02, 326 2022 02 310 40, 2022 02 326 20, 2022 02 January 1, 2023. 9. In March 2022, 2022 01, 815 not 2022 01 one 2022 01 2022 01 January 1, 2023. 2022 01 not Other Accounting Standards Pending Adoption In March 2023, 2023 02, 323 2023 02 2023 02 December 15, 2023. 2023 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 | 3 Months Ended |
Mar. 31, 2023 | |
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, for the purposes of reporting cash flows, consist of cash and due from banks, short-term investments, and interest-bearing deposits. Cash and due from banks include cash on hand, cash items in transit, cash due from the Federal Reserve Bank of San Francisco (“FRBSF”) and other financial institutions. Short-term investments and interest-bearing deposits include cash placed with other banks with original maturity of three The Company had average excess balance with FRBSF of $1.04 billion as of March 31, 2023 December 31, 2022. March 31, 2023 December 31, 2022, March 31, 2023 December 31, 2022, |
Note 6 - Earnings Per Share
Note 6 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2023 | |
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 March 31, 2023 2022 (In thousands, except share and per share data) Net income $ 96,007 $ 75,028 Weighted-average shares: Basic weighted-average number of common shares outstanding . 72,533,239 75,331,976 Dilutive effect of weighted-average outstanding common share equivalents: RSUs 366,423 387,399 Diluted weighted-average number of common shares outstanding 72,899,662 75,719,375 Average restricted stock units with anti-dilutive effect 777 22,574 Earnings per common share: Basic $ 1.32 $ 1.00 Diluted $ 1.32 $ 0.99 |
Note 7 - Stock-based Compensati
Note 7 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2023 | |
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 three March 31, 2023: Time-Based RSUs Performance-Based RSUs Weighted-Average Weighted-Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at December 31, 2022 202,059 $ 33.29 362,965 $ 31.56 Granted — — — — Vested (1,037 ) 34.52 — — Forfeited (1,395 ) 42.12 — — Balance at March 31, 2023 199,627 $ 33.22 362,965 $ 31.56 The compensation expense recorded for RSUs was $1.5 million and $1.6 million for the three March 31, 2023, 2022, March 31, 2023 2022, March 31, 2023, As of March 31, 2023, 2005 |
Note 8 - Investment Securities
Note 8 - Investment Securities | 3 Months Ended |
Mar. 31, 2023 | |
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 March 31, 2023, December 31, 2022: March 31, 2023 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 270,165 $ 34 $ 501 $ 269,698 U.S. government agency entities 59,734 324 127 59,931 U.S. government sponsored entities 40,000 14 — 40,014 Mortgage-backed securities . 969,966 401 113,065 857,302 Collateralized mortgage obligations 33,877 — 2,910 30,967 Corporate debt securities 298,698 265 15,625 283,338 Total $ 1,672,440 $ 1,038 $ 132,228 $ 1,541,250 December 31, 2022 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 241,611 $ — $ 1,111 $ 240,500 U.S. government agency entities 63,347 384 121 63,610 U.S. government sponsored entities 30,000 — — 30,000 Mortgage-backed securities . 993,883 194 126,983 867,094 Collateralized mortgage obligations 34,552 — 3,491 31,061 Corporate debt securities 258,780 112 17,809 241,083 Total $ 1,622,173 $ 690 $ 149,515 $ 1,473,348 As of March 31, 2023, see Note 1 Summary of Significant Accounting Policies Securities Available for Sale Allowance for Credit Losses on Available for Sale Securities 2022 10 The amortized cost and fair value of securities available-for-sale as of March 31, 2023, may may March 31, 2023 Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 350,165 $ 348,984 Due after one year through five years 256,256 241,910 Due after five years through ten years 169,294 160,169 Due after ten years 896,725 790,187 Total $ 1,672,440 $ 1,541,250 Equity Securities three March 31, 2023, three March 31, 2022. March 31, 2023, December 31, 2022, 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 March 31, 2023, December 31, 2022: March 31, 2023 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 $ 172,306 $ 501 $ — $ — $ 172,306 $ 501 U.S. government agency entities 6,617 3 1,676 124 8,293 127 Mortgage-backed securities. 127,422 4,819 709,405 108,246 836,827 113,065 Collateralized mortgage obligations 24,326 1,206 6,641 1,704 30,967 2,910 Corporate debt securities 98,411 1,589 114,663 14,036 213,074 15,625 Total $ 429,082 $ 8,118 $ 832,385 $ 124,110 $ 1,261,467 $ 132,228 December 31, 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 $ 240,500 $ 1,111 $ — $ — $ 240,500 $ 1,111 U.S. government agency entities — — 1,806 121 1,806 121 Mortgage-backed securities . 394,123 33,042 452,739 93,941 846,862 126,983 Collateralized mortgage obligations 24,427 1,614 6,634 1,877 31,061 3,491 Corporate debt securities 109,995 3,256 100,977 14,553 210,972 17,809 Total $ 769,045 $ 39,023 $ 562,156 $ 110,492 $ 1,331,201 $ 149,515 As of March 31, 2023, no December 31, 2022, no In March 2023, Allowance for Credit Losses The securities that were in an unrealized loss position at March 31, 2023, see Note 1 Summary of Significant Accounting Policies - Allowance for Credit Losses on Available for Sale Securities 2022 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 March 31, 2023, three March 31, 2023. Securities available-for-sale having a carrying value of $144.0 million and $145.7 million as of March 31, 2023, December 31, 2022, |
Note 9 - Loans
Note 9 - Loans | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 9. Most of the Company’s business activities are with clients 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 clients in Hong Kong. The Company has no The types of loans in the Company’s Consolidated Balance Sheets as of March 31, 2023 December 31, 2022, March 31, 2023 December 31, 2022 (In thousands) Commercial loans $ 3,153,039 $ 3,318,778 Real estate construction loans 558,967 559,372 Commercial mortgage loans 8,916,766 8,793,685 Residential mortgage loans 5,384,220 5,252,952 Equity lines 298,630 324,548 Installment and other loans 5,717 4,689 Gross loans $ 18,317,339 $ 18,254,024 Allowance for loan losses (144,884 ) (146,485 ) Unamortized deferred loan fees, net (5,872 ) (6,641 ) Total loans, net $ 18,166,583 $ 18,100,898 As of March 31, 2023, December 31, 2022, March 31, 2023 December 31, 2022, The following tables present the average recorded investment and interest income recognized on non-accrual loans for the period indicated: Three Months Ended March 31, 2023 Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 23,395 $ 4 Commercial mortgage loans 36,214 231 Residential mortgage loans and equity lines 9,965 — Installment and other loans. 3 — Total non-accrual loans $ 69,577 $ 235 Three Months Ended March 31, 2022 Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 27,351 $ — Commercial mortgage loans 37,909 429 Residential mortgage loans and equity lines 12,439 7 Total non-accrual loans $ 77,699 $ 436 The following table presents non-accrual loans and the related allowance as of March 31, 2023 December 31, 2022: March 31, 2023 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance: Commercial loans $ 27,401 $ 10,887 $ — Commercial mortgage loans 49,927 40,218 — Residential mortgage loans and equity lines 11,896 11,283 — Subtotal $ 89,224 $ 62,388 $ — With allocated allowance: Commercial loans $ 12,511 $ 11,192 $ 4,258 Commercial mortgage loans — — — Subtotal $ 12,511 $ 11,192 $ 4,258 Total non-accrual loans $ 101,735 $ 73,580 $ 4,258 December 31, 2022 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance: Commercial loans $ 27,341 $ 12,949 $ — Commercial mortgage loans 37,697 32,205 — Residential mortgage loans and equity lines 9,626 8,978 — Installment and other loans 9 8 — Subtotal $ 74,673 $ 54,140 $ — With allocated allowance: Commercial loans $ 14,643 $ 12,823 $ 3,734 Commercial mortgage loans 1,896 1,891 207 Subtotal $ 16,539 $ 14,714 $ 3,941 Total non-accrual loans $ 91,212 $ 68,854 $ 3,941 The following tables present the aging of the loan portfolio by type as of March 31, 2023, December 31, 2022: March 31, 2023 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 $ 7,623 $ 272 $ 100 $ 22,079 $ 30,074 $ 3,122,965 $ 3,153,039 Real estate construction loans — — — — — 558,967 558,967 Commercial mortgage loans 19,870 — 12,656 40,218 72,744 8,844,022 8,916,766 Residential mortgage loans and equity lines. 31,998 — — 11,283 43,281 5,639,569 5,682,850 Installment and other loans 9 10 — — 19 5,698 5,717 Total loans $ 59,500 $ 282 $ 12,756 $ 73,580 $ 146,118 $ 18,171,221 $ 18,317,339 December 31, 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 $ 8,192 $ 3,235 $ 10,208 $ 25,772 $ 47,407 $ 3,271,371 $ 3,318,778 Real estate construction loans — — — — — 559,372 559,372 Commercial mortgage loans 25,772 — 1,372 34,096 61,240 8,732,445 8,793,685 Residential mortgage loans and equity lines. 47,043 5,685 — 8,978 61,706 5,515,794 5,577,500 Installment and other loans 5 1 — 8 14 4,675 4,689 Total loans $ 81,012 $ 8,921 $ 11,580 $ 68,854 $ 170,367 $ 18,083,657 $ 18,254,024 The Company has adopted ASU 2022 02, January 1, 2023. Under the new guidance on loan modifications made to borrowers experiencing financial difficulty, when a loan held for investment is modified and is considered to be a continuation of the original loan, the Company uses the post-modification contractual rate to derive the effective interest rate when using a discounted cash flow method to determine the allowance for credit loss. The amendments in this new guidance eliminate the TDR recognition and measurement and, instead, require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. Under the prior TDR guidance, 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 was 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. Under the prior guidance when the value of a concession was measured using the discounted cash flow method, the allowance for credit loss was determined by discounting the expected future cash flows at the original interest rate of the loan. Upon adoption of ASU 2022 02, not If economic conditions or other factors worsen relative to the assumptions the Company utilized, the expected loan losses will increase accordingly in future periods. As of December 31, 2022, December 31, 2022, The following tables set forth TDRs that were modified during the three March 31, 2022, three March 31, 2022: Three Months Ended March 31, 2022 March 31, 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 Residential mortgage loans and equity lines 2 346 346 — 1 Total 6 $ 6,461 $ 6,461 $ — $ 2,567 Modifications of the loan terms in the three March 31, 2022, three twelve three March 31, 2023 no A summary of TDRs by type of concession and by type of loan, as of December 31, 2022 December 31, 2022 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs: Commercial loans $ 2,588 $ — $ — $ 2,588 Commercial mortgage loans 2,791 — 5,855 8,646 Residential mortgage loans 2,181 445 1,285 3,911 Total accruing TDRs $ 7,560 $ 445 $ 7,140 $ 15,145 December 31, 2022 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs: Commercial loans $ 3,629 $ — $ — $ 3,629 Commercial mortgage loans 1,098 — — 1,098 Residential mortgage loans 1,621 — — 1,621 Total non-accrual TDRs $ 6,348 $ — $ — $ 6,348 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 March 31, 2023. As of March 31, 2023, not As part of the on-going monitoring of the credit quality of our loan portfolio, the Company utilizes a risk grading matrix to assign a risk grade to each loan. Loans are risk rated based on analysis of the current state of the borrower’s credit quality. The analysis of credit quality includes a review of sources of repayment, the borrower’s current financial and liquidity status and other relevant information. The risk rating categories can be generally described by the following grouping for non-homogeneous loans: ● Pass/Watch ● Special Mention not may ● Substandard may not not ● Doubtful may ● Loss no The following table summarizes the Company’s loan held for investment as of March 31, 2023 December 31, 2022, Loans Amortized Cost Basis by Origination Year March 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 62,760 $ 462,944 $ 436,143 $ 161,289 $ 99,233 $ 191,552 $ 1,631,086 $ 5,231 $ 3,050,238 Special Mention — 1,212 3,822 2,437 — 3,540 46,123 — 57,134 Substandard — 59 12,530 285 3,173 6,274 20,823 820 43,964 Doubtful — — — — — 1,406 232 — 1,638 Total $ 62,760 $ 464,215 $ 452,495 $ 164,011 $ 102,406 $ 202,772 $ 1,698,264 $ 6,051 $ 3,152,974 YTD gross writeoffs $ — $ 164 $ 760 $ 145 $ 2,053 $ 778 $ 11 $ — $ 3,911 Real estate construction loans Pass/Watch $ 11,190 $ 114,805 $ 249,947 $ 112,823 $ 18,429 $ 3,072 $ — $ — $ 510,266 Special Mention — — 491 — 11,903 22,998 — — 35,392 Substandard — — — — 1,736 9,266 — — 11,002 Total $ 11,190 $ 114,805 $ 250,438 $ 112,823 $ 32,068 $ 35,336 $ — $ — $ 556,660 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial mortgage loans Pass/Watch $ 387,087 $ 2,077,494 $ 1,715,118 $ 958,330 $ 1,090,519 $ 2,176,822 $ 181,831 $ — $ 8,587,201 Special Mention — 22,150 29,121 25,604 21,038 57,120 — — 155,033 Substandard — 12,277 12,361 14,392 19,902 107,434 2,639 — 169,005 Total $ 387,087 $ 2,111,921 $ 1,756,600 $ 998,326 $ 1,131,459 $ 2,341,376 $ 184,470 $ — $ 8,911,239 YTD gross writeoffs $ — $ — $ 208 $ — $ — $ 3,782 $ — $ — $ 3,990 Residential mortgage loans Pass/Watch $ 264,586 $ 1,195,811 $ 950,229 $ 570,344 $ 586,635 $ 1,800,951 $ — $ — $ 5,368,556 Special Mention — 459 — 489 678 2,275 — — 3,901 Substandard — 204 748 434 1,239 10,186 — — 12,811 Total $ 264,586 $ 1,196,474 $ 950,977 $ 571,267 $ 588,552 $ 1,813,412 $ — $ — $ 5,385,268 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Equity lines Pass/Watch $ — $ 127 $ — $ — $ — $ — $ 277,548 $ 20,217 $ 297,892 Special Mention — — — — — — 11 — 11 Substandard — — — — — — 1,627 204 1,831 Total $ — $ 127 $ — $ — $ — $ — $ 279,186 $ 20,421 $ 299,734 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Installment and other loans Pass/Watch $ 241 $ 2,573 $ 2,778 $ — $ — $ — $ — $ — $ 5,592 Total $ 241 $ 2,573 $ 2,778 $ — $ — $ — $ — $ — $ 5,592 YTD gross writeoffs $ — $ 6 $ — $ — $ — $ — $ — $ — $ 6 Total loans $ 725,864 $ 3,890,115 $ 3,413,288 $ 1,846,427 $ 1,854,485 $ 4,392,896 $ 2,161,920 $ 26,472 $ 18,311,467 Total YTD gross wrieoffs $ — $ 170 $ 968 $ 145 $ 2,053 $ 4,560 $ 11 $ — $ 7,907 Loans Amortized Cost Basis by Origination Year December 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 488,748 $ 446,647 $ 180,226 $ 119,355 $ 107,896 $ 106,649 $ 1,753,509 $ 6,560 $ 3,209,590 Special Mention 1,212 4,696 2,818 68 308 4,354 41,110 — 54,566 Substandard 25 12,750 342 4,859 2,766 6,985 22,084 133 49,944 Doubtful — — — 1,504 2,185 — 234 — 3,923 Total $ 489,985 $ 464,093 $ 183,386 $ 125,786 $ 113,155 $ 117,988 $ 1,816,937 $ 6,693 $ 3,318,023 YTD gross writeoffs $ 96 $ 587 $ 120 $ 71 $ 1,786 $ 360 $ 202 $ — $ 3,222 Real estate construction loans Pass/Watch $ 99,798 $ 264,197 $ 113,312 $ 20,479 $ 3,067 $ — $ — $ — $ 500,853 Special Mention — 360 9,449 11,643 22,945 — — — 44,397 Substandard — — — 1,736 9,309 — — — 11,045 Total $ 99,798 $ 264,557 $ 122,761 $ 33,858 $ 35,321 $ — $ — $ — $ 556,295 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial mortgage loans Pass/Watch $ 2,087,650 $ 1,728,607 $ 975,953 $ 1,094,505 $ 908,748 $ 1,420,982 $ 178,116 $ — $ 8,394,561 Special Mention 22,150 57,015 25,593 32,119 17,999 63,782 1,600 — 220,258 Substandard 12,320 7,861 14,392 19,972 34,899 81,844 2,631 — 173,919 Total $ 2,122,120 $ 1,793,483 $ 1,015,938 $ 1,146,596 $ 961,646 $ 1,566,608 $ 182,347 $ — $ 8,788,738 YTD gross writeoffs $ — $ — $ — $ — $ 2,091 $ — $ — $ — $ 2,091 Residential mortgage loans Pass/Watch $ 1,228,391 $ 964,799 $ 580,990 $ 600,786 $ 417,565 $ 1,444,320 $ — $ — $ 5,236,851 Special Mention — — 33 — 752 905 — — 1,690 Substandard 206 762 2,028 1,966 1,799 8,785 — — 15,546 Total $ 1,228,597 $ 965,561 $ 583,051 $ 602,752 $ 420,116 $ 1,454,010 $ — $ — $ 5,254,087 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Equity lines Pass/Watch $ 731 $ — $ — $ — $ — $ — $ 302,825 $ 21,460 $ 325,016 Special Mention 5 — — — — — — — 5 Substandard 12 — — — — — 1,043 220 1,275 Total $ 748 $ — $ — $ — $ — $ — $ 303,868 $ 21,680 $ 326,296 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Installment and other loans Pass/Watch $ 1,792 $ 2,152 $ — $ — $ — $ — $ — $ — $ 3,944 Total $ 1,792 $ 2,152 $ — $ — $ — $ — $ — $ — $ 3,944 YTD gross writeoffs $ 115 $ — $ — $ — $ — $ — $ 62 $ — $ 177 Total loans $ 3,943,040 $ 3,489,846 $ 1,905,136 $ 1,908,992 $ 1,530,238 $ 3,138,606 $ 2,303,152 $ 28,373 $ 18,247,383 Total YTD gross wrieoffs $ 211 $ 587 $ 120 $ 71 $ 3,877 $ 360 $ 264 $ — $ 5,490 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 ASC Topic 326 The ACL 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. The Company evaluates loans for expected credit losses on an individual basis if, based on current information and events, the loan does not may one 1 2 not Quantitative Factors Under the Company’s CECL methodology, nine three six six fourth 2007 fourth 2021. fourth 2007 fourth 2021. The Company’s CECL methodology utilizes an eight four 1 10 th 3 90 th 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 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 March 31, 2023, March 31, 2022. Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) Allowance for Loan Losses: January 1, 2023 Beginning Balance $ 49,435 $ 10,417 $ 68,366 $ 18,232 $ 35 $ 146,485 (Reversal)/provision for credit losses on loans (60 ) 483 3,463 (611 ) (20 ) 3,255 Charge-offs (3,911 ) — (3,990 ) — (6 ) (7,907 ) Recoveries 511 — 2,528 12 — 3,051 Net (charge-offs)/recoveries (3,400 ) — (1,462 ) 12 (6 ) (4,856 ) March 31, 2023 Ending Balance $ 45,975 $ 10,900 $ 70,367 $ 17,633 $ 9 $ 144,884 Allowance for unfunded credit commitments: January 1, 2023 Beginning Balance $ 4,840 $ 3,890 $ — $ — $ — $ 8,730 Provision for credit losses on unfunded credit commitments 3,435 1,325 85 — — 4,845 March 31, 2023 Ending Balance $ 8,275 $ 5,215 $ 85 $ — $ — $ 13,575 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) January 1, 2022 Beginning Balance $ 43,394 $ 6,302 $ 61,081 $ 25,379 $ 1 $ 136,157 Provision for credit losses on loans 1,206 1,128 2,702 4,200 103 9,339 Charge-offs (221 ) — — — — (221 ) Recoveries 359 6 95 51 — 511 Net recoveries 138 6 95 51 — 290 March 31, 2022 Ending Balance $ 44,738 $ 7,436 $ 63,878 $ 29,630 $ 104 $ 145,786 Allowance for unfunded credit commitments: January 1, 2022 Beginning Balance 3,725 3,375 — — — $ 7,100 Reversal for credit losses on unfunded credit commitments (548 ) (148 ) — — — (696 ) March 31, 2022 Ending Balance $ 3,177 $ 3,227 $ — $ — $ — $ 6,404 |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2023 | |
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 clients. 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 $126.2 million and $133.5 million as of March 31, 2023, December 31, 2022, |
Note 11 - Borrowed Funds
Note 11 - Borrowed Funds | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. Borrowings from the Federal Home Loan Bank ( FHLB ) March 31, 2023, December 31, 2022. March 31, 2023, December 31, 2022. March 31, 2023, April 2023, May 2023 September 2024. March 31, 2023 March 31, 2023 Junior Subordinated Notes three 2003 two 2007 twenty may not, At March 31, 2023, December 31, 2022. |
Note 12 - Income Taxes
Note 12 - Income Taxes | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12. The effective tax rate for the first three 2023 first three 2022. The Company’s tax returns are open for audit by the Internal Revenue Service back to 2020 2019 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 | 3 Months Ended |
Mar. 31, 2023 | |
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 March 31, 2023 December 31, 2022: March 31, 2023 Fair Value Measurements Using Total at Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 269,698 $ — $ — $ 269,698 U.S. government agency entities — 59,931 — 59,931 U.S. government sponsored entities — 40,014 — 40,014 Mortgage-backed securities. — 857,302 — 857,302 Collateralized mortgage obligations. — 30,967 — 30,967 Corporate debt securities — 283,338 — 283,338 Total securities available-for-sale 269,698 1,271,552 — 1,541,250 Equity securities Mutual funds 1,047 — — 1,047 Preferred stock of government sponsored entities. 5,597 — — 5,597 Other equity securities 20,367 — — 20,367 Total equity securities 27,011 — — 27,011 Interest rate swaps — 49,620 — 49,620 Foreign exchange contracts — 975 — 975 Total assets $ 296,709 $ 1,322,147 $ — $ 1,618,856 Liabilities Interest rate swaps $ — $ 42,027 $ — $ 42,027 Foreign exchange contracts — 429 — 429 Total liabilities $ — $ 42,456 $ — $ 42,456 December 31, 2022 Fair Value Measurements Using Total at Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 240,500 $ — $ — $ 240,500 U.S. government agency entities — 63,610 — 63,610 U.S. government sponsored entities — 30,000 — 30,000 Mortgage-backed securities. — 867,094 — 867,094 Collateralized mortgage obligations. — 31,061 — 31,061 Corporate debt securities — 241,083 — 241,083 Total securities available-for-sale 240,500 1,232,848 — 1,473,348 Equity securities Mutual funds 5,509 — — 5,509 Preferred stock of government sponsored entities. 1,289 — — 1,289 Other equity securities 15,360 — — 15,360 Total equity securities 22,158 — — 22,158 Warrants — — 50 50 Interest rate swaps — 44,443 — 44,443 Foreign exchange contracts — 448 — 448 Total assets $ 262,658 $ 1,277,739 $ 50 $ 1,540,447 Liabilities Interest rate swaps $ — $ 51,864 $ — $ 51,864 Foreign exchange contracts — 942 — 942 Total liabilities $ — $ 52,806 $ — $ 52,806 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 March 31, 2023, December 31, 2022, no For financial assets measured at fair value on a nonrecurring basis that were still reflected in the Consolidated Balance Sheets as of March 31, 2023, March 31, 2023, December 31, 2022, As of March 31, 2023 Total Losses Fair Value Measurements Using Total at For the Three Months Ended Level 1 Level 2 Level 3 Fair Value March 31, 2023 March 31, 2022 (In thousands) Assets Non accrual loans by type: Commercial loans $ — $ — $ 11,032 $ 11,032 $ 2,793 $ — Commercial mortgage loans — — 7,907 7,907 3,990 — Residential mortgage loans and equity lines — — — — — — Total non accrual loans — — 18,939 18,939 6,783 — Other real estate owned (1) — — 4,328 4,328 — — Investments in venture capital — — 561 561 — — Total assets $ — $ — $ 23,828 $ 23,828 $ 6,783 $ — ( 1 As of December 31, 2022 Total Losses Fair Value Measurements Using Total at For the Twelve Months Ended Level 1 Level 2 Level 3 Fair Value December 31, 2022 December 31, 2021 (In thousands) Assets Non accrual loans by type: Commercial loans $ — $ — $ 12,950 $ 12,950 $ 1,786 $ 1,012 Commercial mortgage loans — — 32,205 32,205 2,091 — Residential mortgage loans and equity lines — — 8,978 8,978 — — Installment and other loans — — 8 8 — — Total non accrual loans — — 54,141 54,141 3,877 1,012 Other real estate owned (1) — — 4,328 4,328 — 17 Investments in venture capital . — — 689 689 268 143 Total assets $ — $ — $ 59,158 $ 59,158 $ 4,145 $ 1,172 ( 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 December 31, 2022. 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 March 31, 2023, December 31, 2022: March 31, 2023 December 31, 2022 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 252,048 $ 252,048 $ 195,440 $ 195,440 Short-term investments 881,282 881,282 966,962 966,962 Securities available-for-sale 1,541,250 1,541,250 1,473,348 1,473,348 Loans, net 18,166,583 18,195,465 18,100,898 17,944,588 Equity securities 27,011 27,011 22,158 22,158 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants — — 50 50 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 234,733 $ 975 $ 72,996 $ 448 Interest rate swaps 933,688 49,620 817,615 44,443 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 18,648,872 $ 18,798,687 $ 18,505,279 $ 18,572,387 Advances from Federal Home Loan Bank 360,000 358,334 485,000 482,737 Other borrowings 22,481 18,461 22,600 18,385 Long-term debt 119,136 61,939 119,136 68,231 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts. $ 42,753 $ 429 $ 170,213 $ 942 Interest rate swaps 592,514 42,027 595,426 51,864 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,806,329 $ (13,896 ) $ 3,630,304 $ (14,797 ) Standby letters of credit 332,575 (2,825 ) 315,821 (2,738 ) Other letters of credit 9,073 (8 ) 29,416 (33 ) The following tables set forth the level in the fair value hierarchy for the estimated fair values of financial instruments as of March 31, 2023, December 31, 2022. As of March 31, 2023 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 252,048 $ 252,048 $ — $ — Short-term investments. 881,282 881,282 — — Securities available-for-sale 1,541,250 269,698 1,271,552 — Loans, net 18,195,465 — — 18,195,465 Equity securities 27,011 27,011 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Financial Liabilities Deposits 18,798,687 — — 18,798,687 Advances from Federal Home Loan Bank 358,334 — 358,334 — Other borrowings 18,461 — — 18,461 Long-term debt 61,939 — 61,939 — As of December 31, 2022 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 195,440 $ 195,440 $ — $ — Short-term investments. 966,962 966,962 — — Securities available-for-sale 1,473,348 240,500 1,232,848 — Loans, net 17,944,588 — — 17,944,588 Equity securities 22,158 22,158 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 50 — — 50 Financial Liabilities Deposits 18,572,387 — — 18,572,387 Advances from Federal Home Loan Bank 482,737 — 482,737 — Other borrowings 18,385 — — 18,385 Long-term debt 68,231 — 68,231 — |
Note 14 - Goodwill and Other In
Note 14 - Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 14. Goodwill. March 31, 2023 December 31, 2022. not December 31, 2022. first not March 31, 2023. Core Deposit Intangibles. 2022. The following table presents the gross carrying amount and accumulated amortization of core deposits intangible assets as of March 31, 2023 December 31, 2022: March 31, 2023 December 31, 2022 (In thousands) Gross balance $ 10,562 $ 10,562 Accumulated amortization (5,459 ) (4,291 ) Impairment. — (918 ) Net carrying balance $ 5,103 $ 5,353 There were no impairment write-downs on core deposit intangibles for the three March 31, 2023. December 31, 2022 The Company amortizes the core deposit intangibles based on the projected useful lives of the related deposits. The amortization expense related to the core deposit intangible assets was $250 thousand and $224 thousand for the three March 31, 2023 2022, Amount (In thousands) 2023 $ 1,001 2024 1,001 2025 914 2026 870 2027 870 Thereafter. 447 Total $ 5,103 |
Note 15 - Financial Derivatives
Note 15 - Financial Derivatives | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 15. The Company does not may may may The Company follows ASC Topic 815 not third not The Company offers various interest rate derivative contracts to its clients. When derivative transactions are executed with its clients, the derivative contracts are offset by paired trades with third not not third March 31, 2023 December 31, 2022, third March 31, 2023 December 31, 2022, March 31, 2023 December 31, 2022. no In May 2014, ten five ten June 2014 June 2024, three 2022 December 31, 2022 December 31, 2022, not three March 31, 2022. As of March 31, 2023, three ten March 31, 2023 2022, not The Company has designated as a partial-term hedging election $669.2 million notional as last-of-layer hedge on pools of loans with a notational value of $1.19 billion as of March 31, 2023. not 1 1 March 31, 2023, 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 March 31, 2023 December 31, 2022. The notional amount and net unrealized loss of the Company’s fair value derivative financial instruments as of March 31, 2023, December 31, 2022, March 31, 2023 December 31, 2022 Fair value swap hedges: (In thousands) Notional $ 807,332 $ 874,034 Weighted average fixed rate-pay 1.92 % 2.12 % Weighted average variable rate spread 0.44 % 0.68 % Weighted average variable rate-receive 5.04 % 2.61 % Net unrealized gain (1) $ 29,815 $ 38,589 Three months ended March 31, 2023 March 31, 2022 Periodic net settlement of swaps (2) $ 6,336 $ (1,762 ) ( 1 ( 2 Included in the total notional amount of $807.3 March 31, 2023, March 31, 2023. 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 March 31, 2023, December 31, 2022, not March 31, 2023 December 31, 2022 (In thousands) Derivative financial instruments not designated as hedging instruments: Notional amounts: Forward, and swap contracts with positive fair value $ 234,733 $ 72,996 Forward, and swap contracts with negative fair value $ 42,753 $ 170,213 Fair value: Forward, and swap contracts with positive fair value $ 975 $ 448 Forward, and swap contracts with negative fair value $ (429 ) $ (942 ) |
Note 16 - Balance Sheet Offsett
Note 16 - Balance Sheet Offsetting | 3 Months Ended |
Mar. 31, 2023 | |
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 March 31, 2023, December 31, 2022, 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 March 31, 2023 (In thousands) Assets: Derivatives $ 71,840 $ 22,220 $ 49,620 $ — $ 49,620 $ — Liabilities: Derivatives $ 42,027 $ — $ 42,027 $ — $ — $ 42,027 December 31, 2022 Assets: Derivatives $ 90,451 $ 46,008 $ 44,443 $ — $ 42,930 $ 1,513 Liabilities: Derivatives $ 51,864 $ — $ 51,864 $ — $ — $ 51,864 |
Note 17 - Revenue from Contract
Note 17 - Revenue from Contracts with Customers | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 17. The following is a summary of revenue from contracts with clients that are in-scope and not 606: Three months Ended March 31, 2023 2022 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts $ 2,519 $ 2,410 Wealth management fees 3,897 4,354 Other service fees (1) 3,544 4,069 Total noninterest income 9,960 10,833 Noninterest income, not in-scope (2) 4,284 9,399 Total noninterest income $ 14,244 $ 20,232 ( 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 contracts with customers that are out of the scope of ASC Topic 606. The major revenue streams by fee type that are within the scope of ASC Topic 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 clients 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 | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 18. ’ Equity Total equity was $2.54 billion as of March 31, 2023, December 31, 2022, Activity in accumulated other comprehensive income/(loss), net of tax, and reclassification out of accumulated other comprehensive income/(loss) for the three March 31, 2023, March 31, 2022, Three months ended March 31, 2023 Three months ended March 31, 2022 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 $ (104,832 ) $ 211 Cash flow hedge derivatives 2,537 (3,276 ) Total $ (102,295 ) $ (3,065 ) Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 13,552 $ 4,006 $ 9,546 $ (65,256 ) $ (19,290 ) $ (45,966 ) Cash flow hedge derivatives (626 ) (185 ) (441 ) 4,336 1,282 3,054 Total $ 12,926 $ 3,821 $ 9,105 $ (60,920 ) $ (18,008 ) $ (42,912 ) Reclassification adjustment for net losses in net income Securities available-for-sale 3,000 887 2,113 — — — Cash flow hedge derivatives — — — — — — Total 3,000 887 2,113 — — — Total other comprehensive income/(loss) Securities available-for-sale $ 16,552 $ 4,893 $ 11,659 $ (65,256 ) $ (19,290 ) $ (45,966 ) Cash flow hedge derivatives (626 ) (185 ) (441 ) 4,336 1,282 3,054 Total $ 15,926 $ 4,708 $ 11,218 $ (60,920 ) $ (18,008 ) $ (42,912 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ (93,173 ) $ (45,755 ) Cash flow hedge derivatives 2,096 (222 ) Total $ (91,077 ) $ (45,977 ) |
Note 19 - Stock Repurchase Prog
Note 19 - Stock Repurchase Program | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | 19. On February 21, 2023, May 2022 Q1 2023, |
Note 20 - Subsequent Events
Note 20 - Subsequent Events | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 20. The Company has evaluated the effect of events that have occurred subsequent to March 31, 2023, no |
Note 2 - Business Combinations
Note 2 - Business Combinations (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
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 641,829 Right-of-use assets - operating leases 6,453 Core deposit intangible 3,138 Other 561 Total assets $ 652,454 Liabilities assumed: Deposits $ 575,163 Lease liabilities 6,453 Total liabilities assumed $ 581,616 Net assets acquired $ 70,838 Total cash paid at closing $ 74,355 Goodwill $ 3,517 |
Note 6 - Earnings Per Share (Ta
Note 6 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, 2023 2022 (In thousands, except share and per share data) Net income $ 96,007 $ 75,028 Weighted-average shares: Basic weighted-average number of common shares outstanding . 72,533,239 75,331,976 Dilutive effect of weighted-average outstanding common share equivalents: RSUs 366,423 387,399 Diluted weighted-average number of common shares outstanding 72,899,662 75,719,375 Average restricted stock units with anti-dilutive effect 777 22,574 Earnings per common share: Basic $ 1.32 $ 1.00 Diluted $ 1.32 $ 0.99 |
Note 7 - Stock-based Compensa_2
Note 7 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
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, 2022 202,059 $ 33.29 362,965 $ 31.56 Granted — — — — Vested (1,037 ) 34.52 — — Forfeited (1,395 ) 42.12 — — Balance at March 31, 2023 199,627 $ 33.22 362,965 $ 31.56 |
Note 8 - Investment Securities
Note 8 - Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | March 31, 2023 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 270,165 $ 34 $ 501 $ 269,698 U.S. government agency entities 59,734 324 127 59,931 U.S. government sponsored entities 40,000 14 — 40,014 Mortgage-backed securities . 969,966 401 113,065 857,302 Collateralized mortgage obligations 33,877 — 2,910 30,967 Corporate debt securities 298,698 265 15,625 283,338 Total $ 1,672,440 $ 1,038 $ 132,228 $ 1,541,250 December 31, 2022 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 241,611 $ — $ 1,111 $ 240,500 U.S. government agency entities 63,347 384 121 63,610 U.S. government sponsored entities 30,000 — — 30,000 Mortgage-backed securities . 993,883 194 126,983 867,094 Collateralized mortgage obligations 34,552 — 3,491 31,061 Corporate debt securities 258,780 112 17,809 241,083 Total $ 1,622,173 $ 690 $ 149,515 $ 1,473,348 |
Investments Classified by Contractual Maturity Date [Table Text Block] | March 31, 2023 Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 350,165 $ 348,984 Due after one year through five years 256,256 241,910 Due after five years through ten years 169,294 160,169 Due after ten years 896,725 790,187 Total $ 1,672,440 $ 1,541,250 |
Schedule of Unrealized Loss on Investments [Table Text Block] | March 31, 2023 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 $ 172,306 $ 501 $ — $ — $ 172,306 $ 501 U.S. government agency entities 6,617 3 1,676 124 8,293 127 Mortgage-backed securities. 127,422 4,819 709,405 108,246 836,827 113,065 Collateralized mortgage obligations 24,326 1,206 6,641 1,704 30,967 2,910 Corporate debt securities 98,411 1,589 114,663 14,036 213,074 15,625 Total $ 429,082 $ 8,118 $ 832,385 $ 124,110 $ 1,261,467 $ 132,228 December 31, 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 $ 240,500 $ 1,111 $ — $ — $ 240,500 $ 1,111 U.S. government agency entities — — 1,806 121 1,806 121 Mortgage-backed securities . 394,123 33,042 452,739 93,941 846,862 126,983 Collateralized mortgage obligations 24,427 1,614 6,634 1,877 31,061 3,491 Corporate debt securities 109,995 3,256 100,977 14,553 210,972 17,809 Total $ 769,045 $ 39,023 $ 562,156 $ 110,492 $ 1,331,201 $ 149,515 |
Note 9 - Loans (Tables)
Note 9 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2023 December 31, 2022 (In thousands) Commercial loans $ 3,153,039 $ 3,318,778 Real estate construction loans 558,967 559,372 Commercial mortgage loans 8,916,766 8,793,685 Residential mortgage loans 5,384,220 5,252,952 Equity lines 298,630 324,548 Installment and other loans 5,717 4,689 Gross loans $ 18,317,339 $ 18,254,024 Allowance for loan losses (144,884 ) (146,485 ) Unamortized deferred loan fees, net (5,872 ) (6,641 ) Total loans, net $ 18,166,583 $ 18,100,898 |
Impaired Financing Receivables [Table Text Block] | Three Months Ended March 31, 2023 Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 23,395 $ 4 Commercial mortgage loans 36,214 231 Residential mortgage loans and equity lines 9,965 — Installment and other loans. 3 — Total non-accrual loans $ 69,577 $ 235 Three Months Ended March 31, 2022 Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 27,351 $ — Commercial mortgage loans 37,909 429 Residential mortgage loans and equity lines 12,439 7 Total non-accrual loans $ 77,699 $ 436 |
Schedule Of Impaired Loans And Related Allowance And Charge Off [Table Text Block] | March 31, 2023 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance: Commercial loans $ 27,401 $ 10,887 $ — Commercial mortgage loans 49,927 40,218 — Residential mortgage loans and equity lines 11,896 11,283 — Subtotal $ 89,224 $ 62,388 $ — With allocated allowance: Commercial loans $ 12,511 $ 11,192 $ 4,258 Commercial mortgage loans — — — Subtotal $ 12,511 $ 11,192 $ 4,258 Total non-accrual loans $ 101,735 $ 73,580 $ 4,258 December 31, 2022 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance: Commercial loans $ 27,341 $ 12,949 $ — Commercial mortgage loans 37,697 32,205 — Residential mortgage loans and equity lines 9,626 8,978 — Installment and other loans 9 8 — Subtotal $ 74,673 $ 54,140 $ — With allocated allowance: Commercial loans $ 14,643 $ 12,823 $ 3,734 Commercial mortgage loans 1,896 1,891 207 Subtotal $ 16,539 $ 14,714 $ 3,941 Total non-accrual loans $ 91,212 $ 68,854 $ 3,941 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2023 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 $ 7,623 $ 272 $ 100 $ 22,079 $ 30,074 $ 3,122,965 $ 3,153,039 Real estate construction loans — — — — — 558,967 558,967 Commercial mortgage loans 19,870 — 12,656 40,218 72,744 8,844,022 8,916,766 Residential mortgage loans and equity lines. 31,998 — — 11,283 43,281 5,639,569 5,682,850 Installment and other loans 9 10 — — 19 5,698 5,717 Total loans $ 59,500 $ 282 $ 12,756 $ 73,580 $ 146,118 $ 18,171,221 $ 18,317,339 December 31, 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 $ 8,192 $ 3,235 $ 10,208 $ 25,772 $ 47,407 $ 3,271,371 $ 3,318,778 Real estate construction loans — — — — — 559,372 559,372 Commercial mortgage loans 25,772 — 1,372 34,096 61,240 8,732,445 8,793,685 Residential mortgage loans and equity lines. 47,043 5,685 — 8,978 61,706 5,515,794 5,577,500 Installment and other loans 5 1 — 8 14 4,675 4,689 Total loans $ 81,012 $ 8,921 $ 11,580 $ 68,854 $ 170,367 $ 18,083,657 $ 18,254,024 |
Schedule Of Troubled Debt Restructurings [Table Text Block] | Three Months Ended March 31, 2022 March 31, 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 Residential mortgage loans and equity lines 2 346 346 — 1 Total 6 $ 6,461 $ 6,461 $ — $ 2,567 |
Financing Receivable, Modified [Table Text Block] | December 31, 2022 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs: Commercial loans $ 2,588 $ — $ — $ 2,588 Commercial mortgage loans 2,791 — 5,855 8,646 Residential mortgage loans 2,181 445 1,285 3,911 Total accruing TDRs $ 7,560 $ 445 $ 7,140 $ 15,145 |
Non Accrual Troubled Debt Restructurings [Table Text Block] | December 31, 2022 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs: Commercial loans $ 3,629 $ — $ — $ 3,629 Commercial mortgage loans 1,098 — — 1,098 Residential mortgage loans 1,621 — — 1,621 Total non-accrual TDRs $ 6,348 $ — $ — $ 6,348 |
Loan Held for Investment by Loan Portfolio Segments, Internal Risk Ratings and Vintage Year [Table Text Block] | Loans Amortized Cost Basis by Origination Year March 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 62,760 $ 462,944 $ 436,143 $ 161,289 $ 99,233 $ 191,552 $ 1,631,086 $ 5,231 $ 3,050,238 Special Mention — 1,212 3,822 2,437 — 3,540 46,123 — 57,134 Substandard — 59 12,530 285 3,173 6,274 20,823 820 43,964 Doubtful — — — — — 1,406 232 — 1,638 Total $ 62,760 $ 464,215 $ 452,495 $ 164,011 $ 102,406 $ 202,772 $ 1,698,264 $ 6,051 $ 3,152,974 YTD gross writeoffs $ — $ 164 $ 760 $ 145 $ 2,053 $ 778 $ 11 $ — $ 3,911 Real estate construction loans Pass/Watch $ 11,190 $ 114,805 $ 249,947 $ 112,823 $ 18,429 $ 3,072 $ — $ — $ 510,266 Special Mention — — 491 — 11,903 22,998 — — 35,392 Substandard — — — — 1,736 9,266 — — 11,002 Total $ 11,190 $ 114,805 $ 250,438 $ 112,823 $ 32,068 $ 35,336 $ — $ — $ 556,660 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial mortgage loans Pass/Watch $ 387,087 $ 2,077,494 $ 1,715,118 $ 958,330 $ 1,090,519 $ 2,176,822 $ 181,831 $ — $ 8,587,201 Special Mention — 22,150 29,121 25,604 21,038 57,120 — — 155,033 Substandard — 12,277 12,361 14,392 19,902 107,434 2,639 — 169,005 Total $ 387,087 $ 2,111,921 $ 1,756,600 $ 998,326 $ 1,131,459 $ 2,341,376 $ 184,470 $ — $ 8,911,239 YTD gross writeoffs $ — $ — $ 208 $ — $ — $ 3,782 $ — $ — $ 3,990 Residential mortgage loans Pass/Watch $ 264,586 $ 1,195,811 $ 950,229 $ 570,344 $ 586,635 $ 1,800,951 $ — $ — $ 5,368,556 Special Mention — 459 — 489 678 2,275 — — 3,901 Substandard — 204 748 434 1,239 10,186 — — 12,811 Total $ 264,586 $ 1,196,474 $ 950,977 $ 571,267 $ 588,552 $ 1,813,412 $ — $ — $ 5,385,268 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Equity lines Pass/Watch $ — $ 127 $ — $ — $ — $ — $ 277,548 $ 20,217 $ 297,892 Special Mention — — — — — — 11 — 11 Substandard — — — — — — 1,627 204 1,831 Total $ — $ 127 $ — $ — $ — $ — $ 279,186 $ 20,421 $ 299,734 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Installment and other loans Pass/Watch $ 241 $ 2,573 $ 2,778 $ — $ — $ — $ — $ — $ 5,592 Total $ 241 $ 2,573 $ 2,778 $ — $ — $ — $ — $ — $ 5,592 YTD gross writeoffs $ — $ 6 $ — $ — $ — $ — $ — $ — $ 6 Total loans $ 725,864 $ 3,890,115 $ 3,413,288 $ 1,846,427 $ 1,854,485 $ 4,392,896 $ 2,161,920 $ 26,472 $ 18,311,467 Total YTD gross wrieoffs $ — $ 170 $ 968 $ 145 $ 2,053 $ 4,560 $ 11 $ — $ 7,907 Loans Amortized Cost Basis by Origination Year December 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 488,748 $ 446,647 $ 180,226 $ 119,355 $ 107,896 $ 106,649 $ 1,753,509 $ 6,560 $ 3,209,590 Special Mention 1,212 4,696 2,818 68 308 4,354 41,110 — 54,566 Substandard 25 12,750 342 4,859 2,766 6,985 22,084 133 49,944 Doubtful — — — 1,504 2,185 — 234 — 3,923 Total $ 489,985 $ 464,093 $ 183,386 $ 125,786 $ 113,155 $ 117,988 $ 1,816,937 $ 6,693 $ 3,318,023 YTD gross writeoffs $ 96 $ 587 $ 120 $ 71 $ 1,786 $ 360 $ 202 $ — $ 3,222 Real estate construction loans Pass/Watch $ 99,798 $ 264,197 $ 113,312 $ 20,479 $ 3,067 $ — $ — $ — $ 500,853 Special Mention — 360 9,449 11,643 22,945 — — — 44,397 Substandard — — — 1,736 9,309 — — — 11,045 Total $ 99,798 $ 264,557 $ 122,761 $ 33,858 $ 35,321 $ — $ — $ — $ 556,295 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial mortgage loans Pass/Watch $ 2,087,650 $ 1,728,607 $ 975,953 $ 1,094,505 $ 908,748 $ 1,420,982 $ 178,116 $ — $ 8,394,561 Special Mention 22,150 57,015 25,593 32,119 17,999 63,782 1,600 — 220,258 Substandard 12,320 7,861 14,392 19,972 34,899 81,844 2,631 — 173,919 Total $ 2,122,120 $ 1,793,483 $ 1,015,938 $ 1,146,596 $ 961,646 $ 1,566,608 $ 182,347 $ — $ 8,788,738 YTD gross writeoffs $ — $ — $ — $ — $ 2,091 $ — $ — $ — $ 2,091 Residential mortgage loans Pass/Watch $ 1,228,391 $ 964,799 $ 580,990 $ 600,786 $ 417,565 $ 1,444,320 $ — $ — $ 5,236,851 Special Mention — — 33 — 752 905 — — 1,690 Substandard 206 762 2,028 1,966 1,799 8,785 — — 15,546 Total $ 1,228,597 $ 965,561 $ 583,051 $ 602,752 $ 420,116 $ 1,454,010 $ — $ — $ 5,254,087 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Equity lines Pass/Watch $ 731 $ — $ — $ — $ — $ — $ 302,825 $ 21,460 $ 325,016 Special Mention 5 — — — — — — — 5 Substandard 12 — — — — — 1,043 220 1,275 Total $ 748 $ — $ — $ — $ — $ — $ 303,868 $ 21,680 $ 326,296 YTD gross writeoffs $ — $ — $ — $ — $ — $ — $ — $ — $ — Installment and other loans Pass/Watch $ 1,792 $ 2,152 $ — $ — $ — $ — $ — $ — $ 3,944 Total $ 1,792 $ 2,152 $ — $ — $ — $ — $ — $ — $ 3,944 YTD gross writeoffs $ 115 $ — $ — $ — $ — $ — $ 62 $ — $ 177 Total loans $ 3,943,040 $ 3,489,846 $ 1,905,136 $ 1,908,992 $ 1,530,238 $ 3,138,606 $ 2,303,152 $ 28,373 $ 18,247,383 Total YTD gross wrieoffs $ 211 $ 587 $ 120 $ 71 $ 3,877 $ 360 $ 264 $ — $ 5,490 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) Allowance for Loan Losses: January 1, 2023 Beginning Balance $ 49,435 $ 10,417 $ 68,366 $ 18,232 $ 35 $ 146,485 (Reversal)/provision for credit losses on loans (60 ) 483 3,463 (611 ) (20 ) 3,255 Charge-offs (3,911 ) — (3,990 ) — (6 ) (7,907 ) Recoveries 511 — 2,528 12 — 3,051 Net (charge-offs)/recoveries (3,400 ) — (1,462 ) 12 (6 ) (4,856 ) March 31, 2023 Ending Balance $ 45,975 $ 10,900 $ 70,367 $ 17,633 $ 9 $ 144,884 Allowance for unfunded credit commitments: January 1, 2023 Beginning Balance $ 4,840 $ 3,890 $ — $ — $ — $ 8,730 Provision for credit losses on unfunded credit commitments 3,435 1,325 85 — — 4,845 March 31, 2023 Ending Balance $ 8,275 $ 5,215 $ 85 $ — $ — $ 13,575 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) January 1, 2022 Beginning Balance $ 43,394 $ 6,302 $ 61,081 $ 25,379 $ 1 $ 136,157 Provision for credit losses on loans 1,206 1,128 2,702 4,200 103 9,339 Charge-offs (221 ) — — — — (221 ) Recoveries 359 6 95 51 — 511 Net recoveries 138 6 95 51 — 290 March 31, 2022 Ending Balance $ 44,738 $ 7,436 $ 63,878 $ 29,630 $ 104 $ 145,786 Allowance for unfunded credit commitments: January 1, 2022 Beginning Balance 3,725 3,375 — — — $ 7,100 Reversal for credit losses on unfunded credit commitments (548 ) (148 ) — — — (696 ) March 31, 2022 Ending Balance $ 3,177 $ 3,227 $ — $ — $ — $ 6,404 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | March 31, 2023 Fair Value Measurements Using Total at Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 269,698 $ — $ — $ 269,698 U.S. government agency entities — 59,931 — 59,931 U.S. government sponsored entities — 40,014 — 40,014 Mortgage-backed securities. — 857,302 — 857,302 Collateralized mortgage obligations. — 30,967 — 30,967 Corporate debt securities — 283,338 — 283,338 Total securities available-for-sale 269,698 1,271,552 — 1,541,250 Equity securities Mutual funds 1,047 — — 1,047 Preferred stock of government sponsored entities. 5,597 — — 5,597 Other equity securities 20,367 — — 20,367 Total equity securities 27,011 — — 27,011 Interest rate swaps — 49,620 — 49,620 Foreign exchange contracts — 975 — 975 Total assets $ 296,709 $ 1,322,147 $ — $ 1,618,856 Liabilities Interest rate swaps $ — $ 42,027 $ — $ 42,027 Foreign exchange contracts — 429 — 429 Total liabilities $ — $ 42,456 $ — $ 42,456 December 31, 2022 Fair Value Measurements Using Total at Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 240,500 $ — $ — $ 240,500 U.S. government agency entities — 63,610 — 63,610 U.S. government sponsored entities — 30,000 — 30,000 Mortgage-backed securities. — 867,094 — 867,094 Collateralized mortgage obligations. — 31,061 — 31,061 Corporate debt securities — 241,083 — 241,083 Total securities available-for-sale 240,500 1,232,848 — 1,473,348 Equity securities Mutual funds 5,509 — — 5,509 Preferred stock of government sponsored entities. 1,289 — — 1,289 Other equity securities 15,360 — — 15,360 Total equity securities 22,158 — — 22,158 Warrants — — 50 50 Interest rate swaps — 44,443 — 44,443 Foreign exchange contracts — 448 — 448 Total assets $ 262,658 $ 1,277,739 $ 50 $ 1,540,447 Liabilities Interest rate swaps $ — $ 51,864 $ — $ 51,864 Foreign exchange contracts — 942 — 942 Total liabilities $ — $ 52,806 $ — $ 52,806 |
Fair Value Measurements, Nonrecurring [Table Text Block] | As of March 31, 2023 Total Losses Fair Value Measurements Using Total at For the Three Months Ended Level 1 Level 2 Level 3 Fair Value March 31, 2023 March 31, 2022 (In thousands) Assets Non accrual loans by type: Commercial loans $ — $ — $ 11,032 $ 11,032 $ 2,793 $ — Commercial mortgage loans — — 7,907 7,907 3,990 — Residential mortgage loans and equity lines — — — — — — Total non accrual loans — — 18,939 18,939 6,783 — Other real estate owned (1) — — 4,328 4,328 — — Investments in venture capital — — 561 561 — — Total assets $ — $ — $ 23,828 $ 23,828 $ 6,783 $ — As of December 31, 2022 Total Losses Fair Value Measurements Using Total at For the Twelve Months Ended Level 1 Level 2 Level 3 Fair Value December 31, 2022 December 31, 2021 (In thousands) Assets Non accrual loans by type: Commercial loans $ — $ — $ 12,950 $ 12,950 $ 1,786 $ 1,012 Commercial mortgage loans — — 32,205 32,205 2,091 — Residential mortgage loans and equity lines — — 8,978 8,978 — — Installment and other loans — — 8 8 — — Total non accrual loans — — 54,141 54,141 3,877 1,012 Other real estate owned (1) — — 4,328 4,328 — 17 Investments in venture capital . — — 689 689 268 143 Total assets $ — $ — $ 59,158 $ 59,158 $ 4,145 $ 1,172 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2023 December 31, 2022 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 252,048 $ 252,048 $ 195,440 $ 195,440 Short-term investments 881,282 881,282 966,962 966,962 Securities available-for-sale 1,541,250 1,541,250 1,473,348 1,473,348 Loans, net 18,166,583 18,195,465 18,100,898 17,944,588 Equity securities 27,011 27,011 22,158 22,158 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants — — 50 50 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 234,733 $ 975 $ 72,996 $ 448 Interest rate swaps 933,688 49,620 817,615 44,443 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 18,648,872 $ 18,798,687 $ 18,505,279 $ 18,572,387 Advances from Federal Home Loan Bank 360,000 358,334 485,000 482,737 Other borrowings 22,481 18,461 22,600 18,385 Long-term debt 119,136 61,939 119,136 68,231 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts. $ 42,753 $ 429 $ 170,213 $ 942 Interest rate swaps 592,514 42,027 595,426 51,864 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,806,329 $ (13,896 ) $ 3,630,304 $ (14,797 ) Standby letters of credit 332,575 (2,825 ) 315,821 (2,738 ) Other letters of credit 9,073 (8 ) 29,416 (33 ) |
Schedule Of Fair Value Of Financial Instruments [Table Text Block] | As of March 31, 2023 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 252,048 $ 252,048 $ — $ — Short-term investments. 881,282 881,282 — — Securities available-for-sale 1,541,250 269,698 1,271,552 — Loans, net 18,195,465 — — 18,195,465 Equity securities 27,011 27,011 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Financial Liabilities Deposits 18,798,687 — — 18,798,687 Advances from Federal Home Loan Bank 358,334 — 358,334 — Other borrowings 18,461 — — 18,461 Long-term debt 61,939 — 61,939 — As of December 31, 2022 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 195,440 $ 195,440 $ — $ — Short-term investments. 966,962 966,962 — — Securities available-for-sale 1,473,348 240,500 1,232,848 — Loans, net 17,944,588 — — 17,944,588 Equity securities 22,158 22,158 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 50 — — 50 Financial Liabilities Deposits 18,572,387 — — 18,572,387 Advances from Federal Home Loan Bank 482,737 — 482,737 — Other borrowings 18,385 — — 18,385 Long-term debt 68,231 — 68,231 — |
Note 14 - Goodwill and Other _2
Note 14 - Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | March 31, 2023 December 31, 2022 (In thousands) Gross balance $ 10,562 $ 10,562 Accumulated amortization (5,459 ) (4,291 ) Impairment. — (918 ) Net carrying balance $ 5,103 $ 5,353 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Amount (In thousands) 2023 $ 1,001 2024 1,001 2025 914 2026 870 2027 870 Thereafter. 447 Total $ 5,103 |
Note 15 - Financial Derivativ_2
Note 15 - Financial Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | March 31, 2023 December 31, 2022 Fair value swap hedges: (In thousands) Notional $ 807,332 $ 874,034 Weighted average fixed rate-pay 1.92 % 2.12 % Weighted average variable rate spread 0.44 % 0.68 % Weighted average variable rate-receive 5.04 % 2.61 % Net unrealized gain (1) $ 29,815 $ 38,589 Three months ended March 31, 2023 March 31, 2022 Periodic net settlement of swaps (2) $ 6,336 $ (1,762 ) |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | March 31, 2023 December 31, 2022 (In thousands) Derivative financial instruments not designated as hedging instruments: Notional amounts: Forward, and swap contracts with positive fair value $ 234,733 $ 72,996 Forward, and swap contracts with negative fair value $ 42,753 $ 170,213 Fair value: Forward, and swap contracts with positive fair value $ 975 $ 448 Forward, and swap contracts with negative fair value $ (429 ) $ (942 ) |
Note 16 - Balance Sheet Offse_2
Note 16 - Balance Sheet Offsetting (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
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 March 31, 2023 (In thousands) Assets: Derivatives $ 71,840 $ 22,220 $ 49,620 $ — $ 49,620 $ — Liabilities: Derivatives $ 42,027 $ — $ 42,027 $ — $ — $ 42,027 December 31, 2022 Assets: Derivatives $ 90,451 $ 46,008 $ 44,443 $ — $ 42,930 $ 1,513 Liabilities: Derivatives $ 51,864 $ — $ 51,864 $ — $ — $ 51,864 |
Note 17 - Revenue from Contra_2
Note 17 - Revenue from Contracts with Customers (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months Ended March 31, 2023 2022 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts $ 2,519 $ 2,410 Wealth management fees 3,897 4,354 Other service fees (1) 3,544 4,069 Total noninterest income 9,960 10,833 Noninterest income, not in-scope (2) 4,284 9,399 Total noninterest income $ 14,244 $ 20,232 |
Note 18 - Stockholders' Equity
Note 18 - Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended March 31, 2023 Three months ended March 31, 2022 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 $ (104,832 ) $ 211 Cash flow hedge derivatives 2,537 (3,276 ) Total $ (102,295 ) $ (3,065 ) Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 13,552 $ 4,006 $ 9,546 $ (65,256 ) $ (19,290 ) $ (45,966 ) Cash flow hedge derivatives (626 ) (185 ) (441 ) 4,336 1,282 3,054 Total $ 12,926 $ 3,821 $ 9,105 $ (60,920 ) $ (18,008 ) $ (42,912 ) Reclassification adjustment for net losses in net income Securities available-for-sale 3,000 887 2,113 — — — Cash flow hedge derivatives — — — — — — Total 3,000 887 2,113 — — — Total other comprehensive income/(loss) Securities available-for-sale $ 16,552 $ 4,893 $ 11,659 $ (65,256 ) $ (19,290 ) $ (45,966 ) Cash flow hedge derivatives (626 ) (185 ) (441 ) 4,336 1,282 3,054 Total $ 15,926 $ 4,708 $ 11,218 $ (60,920 ) $ (18,008 ) $ (42,912 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ (93,173 ) $ (45,755 ) Cash flow hedge derivatives 2,096 (222 ) Total $ (91,077 ) $ (45,977 ) |
Note 1 - Business (Details Text
Note 1 - Business (Details Textual) | Mar. 31, 2023 |
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 | Mar. 31, 2023 | Dec. 31, 2022 |
Goodwill | $ 375,696 | $ 375,696 | |
HSBC Bank USA West Coast Mass Market Consumer and Retail Banking Business [Member] | |||
Cash and cash equivalents | $ 473 | ||
Loans | 641,829 | ||
Right-of-use assets - operating leases | 6,453 | ||
Core deposit intangible | 3,138 | ||
Other | 561 | ||
Total assets | 652,454 | ||
Deposits | 575,163 | ||
Lease liabilities | 6,453 | ||
Total liabilities assumed | 581,616 | ||
Net assets acquired | 70,838 | ||
Total cash paid at closing | 74,355 | ||
Goodwill | $ 3,517 |
Note 5 - Cash, Cash Equivalen_2
Note 5 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Average Excess Balances Maintained With Federal Reserve Bank | $ 1,040 | $ 1,240 |
Margin Deposit Assets | 71.9 | 88.9 |
Restricted Cash | 23.2 | 25.4 |
Bank [Member] | ||
Restricted Cash | $ 5.6 | $ 8.2 |
Note 6 - Earnings Per Share - E
Note 6 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net income | $ 96,007 | $ 75,028 |
Basic weighted-average number of common shares outstanding . (in shares) | 72,533,239 | 75,331,976 |
Dilutive effect of weighted-average outstanding common share equivalents RSUs (in shares) | 366,423 | 387,399 |
Diluted weighted-average number of common shares outstanding (in shares) | 72,899,662 | 75,719,375 |
Average restricted stock units with anti-dilutive effect (in shares) | 777 | 22,574 |
Basic (in dollars per share) | $ 1.32 | $ 1 |
Diluted (in dollars per share) | $ 1.32 | $ 0.99 |
Note 7 - Stock-based Compensa_3
Note 7 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 1,659,595 | |
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 | $ 1.5 | $ 1.6 |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 7.4 | $ 10 |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 6 months | |
Performance-based Restricted Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |
Performance-based Restricted Stock Units [Member] | Minimum [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||
Performance-based Restricted Stock Units, Number of Shares That May Vest, Percentage of Target | 0% | |
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% |
Note 7 - Stock-based Compensa_4
Note 7 - Stock-based Compensation - Restricted Stock Units (Details) | 3 Months Ended |
Mar. 31, 2023 $ / shares shares | |
Time-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 202,059 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 33.29 |
Granted (in shares) | shares | 0 |
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Vested (in shares) | shares | (1,037) |
Vested, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 34.52 |
Forfeited (in shares) | shares | (1,395) |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 42.12 |
Balance (in shares) | shares | 199,627 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 33.22 |
Performance-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 362,965 |
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 31.56 |
Granted (in shares) | shares | 0 |
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Vested (in shares) | shares | 0 |
Vested, weighted-average grant date fair value (in dollars per share) | $ / shares | $ 0 |
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 | 1 Months Ended | 3 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss | $ 5,900 | $ 5,900 | ||
Equity Securities, FV-NI, Unrealized Gain (Loss) | 4,853 | $ 5,874 | ||
Equity Securities, FV-NI, Current | $ 27,011 | $ 27,011 | $ 22,158 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 193 | 193 | 195 | |
Debt Securities, Available-for-Sale, Realized Loss | $ 3,000 | |||
Debt Securities, Available-for-Sale, Allowance for Credit Loss | 0 | $ 0 | ||
Debt Securities, Available-for-Sale, Transfer in, Allowance for Credit Loss, Expense | 0 | |||
Pledged Investment Securities | $ 144,000 | $ 144,000 | $ 145,700 | |
Collateralized Mortgage-Backed Securities [Member] | ||||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 158 | 158 | 159 | |
Corporate Debt Securities [Member] | ||||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 21 | 21 | 22 | |
US Treasury Securities [Member] | ||||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 6 | |||
Collateralized Mortgage Obligations [Member] | ||||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 5 | |||
US Government Corporations and Agencies Securities [Member] | ||||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 3 |
Note 8 - Investment Securitie_3
Note 8 - Investment Securities - Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Investment securities available for sale, amortized cost | $ 1,672,440 | $ 1,622,173 |
Investment securities available for sale, gross unrealized gains | 1,038 | 690 |
Investment securities available for sale, gross unrealized losses | 132,228 | 149,515 |
Securities available-for-sale | 1,541,250 | 1,473,348 |
US Treasury Securities [Member] | ||
Investment securities available for sale, amortized cost | 270,165 | 241,611 |
Investment securities available for sale, gross unrealized gains | 34 | 0 |
Investment securities available for sale, gross unrealized losses | 501 | 1,111 |
Securities available-for-sale | 269,698 | 240,500 |
US Government Corporations and Agencies Securities [Member] | ||
Investment securities available for sale, amortized cost | 59,734 | 63,347 |
Investment securities available for sale, gross unrealized gains | 324 | 384 |
Investment securities available for sale, gross unrealized losses | 127 | 121 |
Securities available-for-sale | 59,931 | 63,610 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 40,000 | 30,000 |
Investment securities available for sale, gross unrealized gains | 14 | 0 |
Investment securities available for sale, gross unrealized losses | 0 | 0 |
Securities available-for-sale | 40,014 | 30,000 |
Collateralized Mortgage-Backed Securities [Member] | ||
Investment securities available for sale, amortized cost | 969,966 | 993,883 |
Investment securities available for sale, gross unrealized gains | 401 | 194 |
Investment securities available for sale, gross unrealized losses | 113,065 | 126,983 |
Securities available-for-sale | 857,302 | 867,094 |
Collateralized Mortgage Obligations [Member] | ||
Investment securities available for sale, amortized cost | 33,877 | 34,552 |
Investment securities available for sale, gross unrealized gains | 0 | 0 |
Investment securities available for sale, gross unrealized losses | 2,910 | 3,491 |
Securities available-for-sale | 30,967 | 31,061 |
Corporate Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 298,698 | 258,780 |
Investment securities available for sale, gross unrealized gains | 265 | 112 |
Investment securities available for sale, gross unrealized losses | 15,625 | 17,809 |
Securities available-for-sale | $ 283,338 | $ 241,083 |
Note 8 - Investment Securitie_4
Note 8 - Investment Securities - Investments by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Due in one year or less, Amortized Cost | $ 350,165 | |
Due in one year or less, Fair Value | 348,984 | |
Due after one year through five years, Amortized Cost | 256,256 | |
Due after one year through five years, Fair Value | 241,910 | |
Due after five years through ten years, Amortized Cost | 169,294 | |
Due after five years through ten years, Fair Value | 160,169 | |
Due after ten years, Amortized Cost | 896,725 | |
Due after ten years, Fair Value | 790,187 | |
Total, Amortized Cost | 1,672,440 | $ 1,622,173 |
Total, Fair Value | $ 1,541,250 | $ 1,473,348 |
Note 8 - Investment Securitie_5
Note 8 - Investment Securities - Temporarily Impaired Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Temporarily impaired securities, less than 12 months, fair value | $ 429,082 | $ 769,045 |
Temporarily impaired securities, less than 12 months, unrealized losses | 8,118 | 39,023 |
Temporarily impaired securities, 12 months or longer, fair value | 832,385 | 562,156 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 124,110 | 110,492 |
Temporarily impaired securities, total fair value | 1,261,467 | 1,331,201 |
Temporarily impaired securities, total unrealized losses | 132,228 | 149,515 |
US Treasury Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 172,306 | 240,500 |
Temporarily impaired securities, less than 12 months, unrealized losses | 501 | 1,111 |
Temporarily impaired securities, 12 months or longer, fair value | 0 | 0 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 0 | 0 |
Temporarily impaired securities, total fair value | 172,306 | 240,500 |
Temporarily impaired securities, total unrealized losses | 501 | 1,111 |
US Government Corporations and Agencies Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 6,617 | 0 |
Temporarily impaired securities, less than 12 months, unrealized losses | 3 | 0 |
Temporarily impaired securities, 12 months or longer, fair value | 1,676 | 1,806 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 124 | 121 |
Temporarily impaired securities, total fair value | 8,293 | 1,806 |
Temporarily impaired securities, total unrealized losses | 127 | 121 |
Collateralized Mortgage-Backed Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 127,422 | 394,123 |
Temporarily impaired securities, less than 12 months, unrealized losses | 4,819 | 33,042 |
Temporarily impaired securities, 12 months or longer, fair value | 709,405 | 452,739 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 108,246 | 93,941 |
Temporarily impaired securities, total fair value | 836,827 | 846,862 |
Temporarily impaired securities, total unrealized losses | 113,065 | 126,983 |
Collateralized Mortgage Obligations [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 24,326 | 24,427 |
Temporarily impaired securities, less than 12 months, unrealized losses | 1,206 | 1,614 |
Temporarily impaired securities, 12 months or longer, fair value | 6,641 | 6,634 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 1,704 | 1,877 |
Temporarily impaired securities, total fair value | 30,967 | 31,061 |
Temporarily impaired securities, total unrealized losses | 2,910 | 3,491 |
Corporate Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 98,411 | 109,995 |
Temporarily impaired securities, less than 12 months, unrealized losses | 1,589 | 3,256 |
Temporarily impaired securities, 12 months or longer, fair value | 114,663 | 100,977 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 14,036 | 14,553 |
Temporarily impaired securities, total fair value | 213,074 | 210,972 |
Temporarily impaired securities, total unrealized losses | $ 15,625 | $ 17,809 |
Note 9 - Loans (Details Textual
Note 9 - Loans (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Impaired Financing Receivable, Recorded Investment | $ 73,580 | $ 68,854 | |
Percentage Of Charge Off To Contractual Balances For Impaired Loans | 10.50% | 14.10% | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Specific Reserve | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 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 | $ 73,600 | $ 68,900 | |
Accruing Troubled Debt Restructuring [Member] | |||
Financing Receivable, Troubled Debt Restructuring | 15,100 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Specific Reserve | 0 | ||
Non-accruing Troubled Debt Restructuring [Member] | |||
Financing Receivable, Troubled Debt Restructuring | 6,300 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Specific Reserve | $ 427 |
Note 9 - Loans - Components of
Note 9 - Loans - Components of Loans in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Loans | $ 18,317,339 | $ 18,254,024 | ||
Less: Allowance for loan losses | (144,884) | (146,485) | $ (145,786) | $ (136,157) |
Unamortized deferred loan fees, net | (5,872) | (6,641) | ||
Loans, net | 18,166,583 | 18,100,898 | ||
Commercial Portfolio Segment [Member] | ||||
Loans | 3,153,039 | 3,318,778 | ||
Less: Allowance for loan losses | (45,975) | (49,435) | (44,738) | (43,394) |
Real Estate Construction Portfolio Segment [Member] | ||||
Loans | 558,967 | 559,372 | ||
Less: Allowance for loan losses | (10,900) | (10,417) | (7,436) | (6,302) |
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans | 8,916,766 | 8,793,685 | ||
Less: Allowance for loan losses | (70,367) | (68,366) | (63,878) | (61,081) |
Residential Portfolio Segment [Member] | ||||
Loans | 5,384,220 | 5,252,952 | ||
Equity Lines Portfolio Segment [Member] | ||||
Loans | 298,630 | 324,548 | ||
Installment and Other Loans [Member ] | ||||
Loans | 5,717 | 4,689 | ||
Less: Allowance for loan losses | $ (9) | $ (35) | $ (104) | $ (1) |
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 | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Average Recorded Investment | $ 69,577 | $ 77,699 |
Interest Income Recognized | 235 | 436 |
Commercial Portfolio Segment [Member] | ||
Average Recorded Investment | 23,395 | 27,351 |
Interest Income Recognized | 4 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Average Recorded Investment | 36,214 | 37,909 |
Interest Income Recognized | 231 | 429 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Average Recorded Investment | 9,965 | 12,439 |
Interest Income Recognized | 0 | $ 7 |
Installment and Other Loans [Member ] | ||
Average Recorded Investment | 3 | |
Interest Income Recognized | $ 0 |
Note 9 - Loans - Impaired Loans
Note 9 - Loans - Impaired Loans and Related Allowance for Credit Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Loans with no related allowance, unpaid principal balance | $ 89,224 | $ 74,673 |
Loans with no related allowance, recorded investment | 62,388 | 54,140 |
Loans with related allowance, unpaid principal balance | 12,511 | 16,539 |
Loans with related allowance, recorded investment | 11,192 | 14,714 |
Allowance | 4,258 | 3,941 |
Unpaid principal balance | 101,735 | 91,212 |
Recorded investment | 73,580 | 68,854 |
Commercial Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 27,401 | 27,341 |
Loans with no related allowance, recorded investment | 10,887 | 12,949 |
Loans with related allowance, unpaid principal balance | 12,511 | 14,643 |
Loans with related allowance, recorded investment | 11,192 | 12,823 |
Allowance | 4,258 | 3,734 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 49,927 | 37,697 |
Loans with no related allowance, recorded investment | 40,218 | 32,205 |
Loans with related allowance, unpaid principal balance | 0 | 1,896 |
Loans with related allowance, recorded investment | 0 | 1,891 |
Allowance | 0 | 207 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 11,896 | 9,626 |
Loans with no related allowance, recorded investment | $ 11,283 | 8,978 |
Installment and Other Loans [Member ] | ||
Loans with no related allowance, unpaid principal balance | 9 | |
Loans with no related allowance, recorded investment | $ 8 |
Note 9 - Loans - Aging of Loan
Note 9 - Loans - Aging of Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Loans | $ 18,317,339 | $ 18,254,024 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 59,500 | 81,012 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 282 | 8,921 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 12,756 | 11,580 |
Financial Asset, Past Due [Member] | ||
Loans | 146,118 | 170,367 |
Non-accrual loans | 73,580 | 68,854 |
Financial Asset, Not Past Due [Member] | ||
Loans | 18,171,221 | 18,083,657 |
Commercial Portfolio Segment [Member] | ||
Loans | 3,153,039 | 3,318,778 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 7,623 | 8,192 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 272 | 3,235 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 100 | 10,208 |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 30,074 | 47,407 |
Non-accrual loans | 22,079 | 25,772 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 3,122,965 | 3,271,371 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 558,967 | 559,372 |
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 | 558,967 | 559,372 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 8,916,766 | 8,793,685 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 19,870 | 25,772 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 12,656 | 1,372 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 72,744 | 61,240 |
Non-accrual loans | 40,218 | 34,096 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 8,844,022 | 8,732,445 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 5,682,850 | 5,577,500 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 31,998 | 47,043 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 5,685 |
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 | 43,281 | 61,706 |
Non-accrual loans | 11,283 | 8,978 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 5,639,569 | 5,515,794 |
Installment and Other Loans [Member ] | ||
Loans | 5,717 | 4,689 |
Installment and Other Loans [Member ] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 9 | 5 |
Installment and Other Loans [Member ] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 10 | 1 |
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 | 19 | 14 |
Non-accrual loans | 0 | 8 |
Installment and Other Loans [Member ] | Financial Asset, Not Past Due [Member] | ||
Loans | $ 5,698 | $ 4,675 |
Note 9 - Loans - Troubled Debt
Note 9 - Loans - Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2022 USD ($) | |
No. of Contracts | 6 |
Pre-Modification Outstanding Recorded Investment | $ 6,461 |
Post-Modification Outstanding Recorded Investment | 6,461 |
Specific Reserve | 0 |
Charge-offs | $ 2,567 |
Commercial Portfolio Segment [Member] | |
No. of Contracts | 4 |
Pre-Modification Outstanding Recorded Investment | $ 6,115 |
Post-Modification Outstanding Recorded Investment | 6,115 |
Specific Reserve | 0 |
Charge-offs | $ 2,566 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | |
No. of Contracts | 2 |
Pre-Modification Outstanding Recorded Investment | $ 346 |
Post-Modification Outstanding Recorded Investment | 346 |
Specific Reserve | 0 |
Charge-offs | $ 1 |
Note 9 - Loans - Accruing Troub
Note 9 - Loans - Accruing Troubled Debt Restructurings (Details) - Accruing Troubled Debt Restructuring [Member] $ in Thousands | Dec. 31, 2022 USD ($) |
Accruing TDRs | $ 15,145 |
Payment Deferral [Member] | |
Accruing TDRs | 7,560 |
Contractual Interest Rate Reduction [Member] | |
Accruing TDRs | 445 |
Rate Reduction and Payment Deferral [Member] | |
Accruing TDRs | 7,140 |
Commercial Portfolio Segment [Member] | |
Accruing TDRs | 2,588 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | |
Accruing TDRs | 2,588 |
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | |
Accruing TDRs | 0 |
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | |
Accruing TDRs | 0 |
Commercial Real Estate Portfolio Segment [Member] | |
Accruing TDRs | 8,646 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | |
Accruing TDRs | 2,791 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | |
Accruing TDRs | 0 |
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | |
Accruing TDRs | 5,855 |
Residential Portfolio Segment [Member] | |
Accruing TDRs | 3,911 |
Residential Portfolio Segment [Member] | Payment Deferral [Member] | |
Accruing TDRs | 2,181 |
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | |
Accruing TDRs | 445 |
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | |
Accruing TDRs | $ 1,285 |
Note 9 - Loans - Non-accrual Tr
Note 9 - Loans - Non-accrual Troubled Debt Restructurings (Details) - Non-accruing Troubled Debt Restructuring [Member] $ in Thousands | Dec. 31, 2022 USD ($) |
Accruing TDRs | $ 6,348 |
Payment Deferral [Member] | |
Accruing TDRs | 6,348 |
Contractual Interest Rate Reduction [Member] | |
Accruing TDRs | 0 |
Rate Reduction and Payment Deferral [Member] | |
Accruing TDRs | 0 |
Commercial Portfolio Segment [Member] | |
Accruing TDRs | 3,629 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | |
Accruing TDRs | 3,629 |
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | |
Accruing TDRs | 0 |
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | |
Accruing TDRs | 0 |
Commercial Real Estate Portfolio Segment [Member] | |
Accruing TDRs | 1,098 |
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | |
Accruing TDRs | 1,098 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | |
Accruing TDRs | 0 |
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | |
Accruing TDRs | 0 |
Residential Portfolio Segment [Member] | |
Accruing TDRs | 1,621 |
Residential Portfolio Segment [Member] | Payment Deferral [Member] | |
Accruing TDRs | 1,621 |
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | |
Accruing TDRs | 0 |
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | |
Accruing TDRs | $ 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 | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Loans originated in current year | $ 725,864 | $ 3,943,040 | |
Loans originated year prior | 3,890,115 | 3,489,846 | |
Loans originated three years prior | 3,413,288 | 1,905,136 | |
Loans originated four years prior | 1,846,427 | 1,908,992 | |
Loans originated five years prior | 1,854,485 | 1,530,238 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 4,392,896 | 3,138,606 | |
Total, Revolving Loans | 2,161,920 | 2,303,152 | |
Total, Revolving Converted to Term Loans | 26,472 | 28,373 | |
Total loans | 18,311,467 | 18,247,383 | |
Loans originated in current year, write offs | 0 | 211 | |
Loans originated year prior, write offs | 170 | 587 | |
Loans originated three years prior, write offs | 968 | 120 | |
Loans originated four years prior, write offs | 145 | 71 | |
Loans originated five years prior, write offs | 2,053 | 3,877 | |
Total, Loans Amortized Cost Basis by Origination Year Prior, Write Offs | 4,560 | 360 | |
Total, Revolving Loans Write Offs | 11 | 264 | |
Total, Revolving Converted to Term Loans, Write Offs | 0 | 0 | |
YTD gross writeoffs | 7,907 | $ 221 | 5,490 |
Total loans | 18,311,467 | 18,247,383 | |
Commercial Portfolio Segment [Member] | |||
Loans originated in current year | 62,760 | 489,985 | |
Loans originated year prior | 464,215 | 464,093 | |
Loans originated three years prior | 452,495 | 183,386 | |
Loans originated four years prior | 164,011 | 125,786 | |
Loans originated five years prior | 102,406 | 113,155 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 202,772 | 117,988 | |
Total, Revolving Loans | 1,698,264 | 1,816,937 | |
Total, Revolving Converted to Term Loans | 6,051 | 6,693 | |
Total loans | 3,152,974 | 3,318,023 | |
Loans originated in current year, write offs | 0 | 96 | |
Loans originated year prior, write offs | 164 | 587 | |
Loans originated three years prior, write offs | 760 | 120 | |
Loans originated four years prior, write offs | 145 | 71 | |
Loans originated five years prior, write offs | 2,053 | 1,786 | |
Total, Loans Amortized Cost Basis by Origination Year Prior, Write Offs | 778 | 360 | |
Total, Revolving Loans Write Offs | 11 | 202 | |
Total, Revolving Converted to Term Loans, Write Offs | 0 | 0 | |
YTD gross writeoffs | 3,911 | 221 | 3,222 |
Total loans | 3,152,974 | 3,318,023 | |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Loans originated in current year | 62,760 | 488,748 | |
Loans originated year prior | 462,944 | 446,647 | |
Loans originated three years prior | 436,143 | 180,226 | |
Loans originated four years prior | 161,289 | 119,355 | |
Loans originated five years prior | 99,233 | 107,896 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 191,552 | 106,649 | |
Total, Revolving Loans | 1,631,086 | 1,753,509 | |
Total, Revolving Converted to Term Loans | 5,231 | 6,560 | |
Total loans | 3,050,238 | 3,209,590 | |
Total loans | 3,050,238 | 3,209,590 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Loans originated in current year | 0 | 1,212 | |
Loans originated year prior | 1,212 | 4,696 | |
Loans originated three years prior | 3,822 | 2,818 | |
Loans originated four years prior | 2,437 | 68 | |
Loans originated five years prior | 0 | 308 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 3,540 | 4,354 | |
Total, Revolving Loans | 46,123 | 41,110 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 57,134 | 54,566 | |
Total loans | 57,134 | 54,566 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Loans originated in current year | 0 | 25 | |
Loans originated year prior | 59 | 12,750 | |
Loans originated three years prior | 12,530 | 342 | |
Loans originated four years prior | 285 | 4,859 | |
Loans originated five years prior | 3,173 | 2,766 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 6,274 | 6,985 | |
Total, Revolving Loans | 20,823 | 22,084 | |
Total, Revolving Converted to Term Loans | 820 | 133 | |
Total loans | 43,964 | 49,944 | |
Total loans | 43,964 | 49,944 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||
Loans originated in current year | 0 | 0 | |
Loans originated year prior | 0 | 0 | |
Loans originated three years prior | 0 | 0 | |
Loans originated four years prior | 0 | 1,504 | |
Loans originated five years prior | 0 | 2,185 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,406 | 0 | |
Total, Revolving Loans | 232 | 234 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 1,638 | 3,923 | |
Total loans | 1,638 | 3,923 | |
Real Estate Construction Portfolio Segment [Member] | |||
Loans originated in current year | 11,190 | 99,798 | |
Loans originated year prior | 114,805 | 264,557 | |
Loans originated three years prior | 250,438 | 122,761 | |
Loans originated four years prior | 112,823 | 33,858 | |
Loans originated five years prior | 32,068 | 35,321 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 35,336 | 0 | |
Total, Revolving Loans | 0 | 0 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 556,660 | 556,295 | |
Loans originated in current year, write offs | 0 | 0 | |
Loans originated year prior, write offs | 0 | 0 | |
Loans originated three years prior, write offs | 0 | 0 | |
Loans originated four years prior, write offs | 0 | 0 | |
Loans originated five years prior, write offs | 0 | 0 | |
Total, Loans Amortized Cost Basis by Origination Year Prior, Write Offs | 0 | 0 | |
Total, Revolving Loans Write Offs | 0 | 0 | |
Total, Revolving Converted to Term Loans, Write Offs | 0 | 0 | |
YTD gross writeoffs | 0 | 0 | 0 |
Total loans | 556,660 | 556,295 | |
Real Estate Construction Portfolio Segment [Member] | Pass [Member] | |||
Loans originated in current year | 11,190 | 99,798 | |
Loans originated year prior | 114,805 | 264,197 | |
Loans originated three years prior | 249,947 | 113,312 | |
Loans originated four years prior | 112,823 | 20,479 | |
Loans originated five years prior | 18,429 | 3,067 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 3,072 | 0 | |
Total, Revolving Loans | 0 | 0 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 510,266 | 500,853 | |
Total loans | 510,266 | 500,853 | |
Real Estate Construction Portfolio Segment [Member] | Special Mention [Member] | |||
Loans originated in current year | 0 | 0 | |
Loans originated year prior | 0 | 360 | |
Loans originated three years prior | 491 | 9,449 | |
Loans originated four years prior | 0 | 11,643 | |
Loans originated five years prior | 11,903 | 22,945 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 22,998 | 0 | |
Total, Revolving Loans | 0 | 0 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 35,392 | 44,397 | |
Total loans | 35,392 | 44,397 | |
Real Estate Construction Portfolio Segment [Member] | Substandard [Member] | |||
Loans originated in current year | 0 | 0 | |
Loans originated year prior | 0 | 0 | |
Loans originated three years prior | 0 | 0 | |
Loans originated four years prior | 0 | 1,736 | |
Loans originated five years prior | 1,736 | 9,309 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 9,266 | 0 | |
Total, Revolving Loans | 0 | 0 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 11,002 | 11,045 | |
Total loans | 11,002 | 11,045 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans originated in current year | 387,087 | 2,122,120 | |
Loans originated year prior | 2,111,921 | 1,793,483 | |
Loans originated three years prior | 1,756,600 | 1,015,938 | |
Loans originated four years prior | 998,326 | 1,146,596 | |
Loans originated five years prior | 1,131,459 | 961,646 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 2,341,376 | 1,566,608 | |
Total, Revolving Loans | 184,470 | 182,347 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 8,911,239 | 8,788,738 | |
Loans originated in current year, write offs | 0 | 0 | |
Loans originated year prior, write offs | 0 | 0 | |
Loans originated three years prior, write offs | 208 | 0 | |
Loans originated four years prior, write offs | 0 | 0 | |
Loans originated five years prior, write offs | 0 | 2,091 | |
Total, Loans Amortized Cost Basis by Origination Year Prior, Write Offs | 3,782 | 0 | |
Total, Revolving Loans Write Offs | 0 | 0 | |
Total, Revolving Converted to Term Loans, Write Offs | 0 | 0 | |
YTD gross writeoffs | 3,990 | 0 | 2,091 |
Total loans | 8,911,239 | 8,788,738 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | |||
Loans originated in current year | 387,087 | 2,087,650 | |
Loans originated year prior | 2,077,494 | 1,728,607 | |
Loans originated three years prior | 1,715,118 | 975,953 | |
Loans originated four years prior | 958,330 | 1,094,505 | |
Loans originated five years prior | 1,090,519 | 908,748 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 2,176,822 | 1,420,982 | |
Total, Revolving Loans | 181,831 | 178,116 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 8,587,201 | 8,394,561 | |
Total loans | 8,587,201 | 8,394,561 | |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | |||
Loans originated in current year | 0 | 22,150 | |
Loans originated year prior | 22,150 | 57,015 | |
Loans originated three years prior | 29,121 | 25,593 | |
Loans originated four years prior | 25,604 | 32,119 | |
Loans originated five years prior | 21,038 | 17,999 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 57,120 | 63,782 | |
Total, Revolving Loans | 0 | 1,600 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 155,033 | 220,258 | |
Total loans | 155,033 | 220,258 | |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | |||
Loans originated in current year | 0 | 12,320 | |
Loans originated year prior | 12,277 | 7,861 | |
Loans originated three years prior | 12,361 | 14,392 | |
Loans originated four years prior | 14,392 | 19,972 | |
Loans originated five years prior | 19,902 | 34,899 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 107,434 | 81,844 | |
Total, Revolving Loans | 2,639 | 2,631 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 169,005 | 173,919 | |
Total loans | 169,005 | 173,919 | |
Residential Portfolio Segment [Member] | |||
Loans originated in current year | 264,586 | 1,228,597 | |
Loans originated year prior | 1,196,474 | 965,561 | |
Loans originated three years prior | 950,977 | 583,051 | |
Loans originated four years prior | 571,267 | 602,752 | |
Loans originated five years prior | 588,552 | 420,116 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,813,412 | 1,454,010 | |
Total, Revolving Loans | 0 | 0 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 5,385,268 | 5,254,087 | |
Loans originated in current year, write offs | 0 | 0 | |
Loans originated year prior, write offs | 0 | 0 | |
Loans originated three years prior, write offs | 0 | 0 | |
Loans originated four years prior, write offs | 0 | 0 | |
Loans originated five years prior, write offs | 0 | 0 | |
Total, Loans Amortized Cost Basis by Origination Year Prior, Write Offs | 0 | 0 | |
Total, Revolving Loans Write Offs | 0 | 0 | |
Total, Revolving Converted to Term Loans, Write Offs | 0 | 0 | |
YTD gross writeoffs | 0 | 0 | |
Total loans | 5,385,268 | 5,254,087 | |
Residential Portfolio Segment [Member] | Pass [Member] | |||
Loans originated in current year | 264,586 | 1,228,391 | |
Loans originated year prior | 1,195,811 | 964,799 | |
Loans originated three years prior | 950,229 | 580,990 | |
Loans originated four years prior | 570,344 | 600,786 | |
Loans originated five years prior | 586,635 | 417,565 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 1,800,951 | 1,444,320 | |
Total, Revolving Loans | 0 | 0 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 5,368,556 | 5,236,851 | |
Total loans | 5,368,556 | 5,236,851 | |
Residential Portfolio Segment [Member] | Special Mention [Member] | |||
Loans originated in current year | 0 | 0 | |
Loans originated year prior | 459 | 0 | |
Loans originated three years prior | 0 | 33 | |
Loans originated four years prior | 489 | 0 | |
Loans originated five years prior | 678 | 752 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 2,275 | 905 | |
Total, Revolving Loans | 0 | 0 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 3,901 | 1,690 | |
Total loans | 3,901 | 1,690 | |
Residential Portfolio Segment [Member] | Substandard [Member] | |||
Loans originated in current year | 0 | 206 | |
Loans originated year prior | 204 | 762 | |
Loans originated three years prior | 748 | 2,028 | |
Loans originated four years prior | 434 | 1,966 | |
Loans originated five years prior | 1,239 | 1,799 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 10,186 | 8,785 | |
Total, Revolving Loans | 0 | 0 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 12,811 | 15,546 | |
Total loans | 12,811 | 15,546 | |
Equity Lines Portfolio Segment [Member] | |||
Loans originated in current year | 0 | 748 | |
Loans originated year prior | 127 | 0 | |
Loans originated three years prior | 0 | 0 | |
Loans originated four years prior | 0 | 0 | |
Loans originated five years prior | 0 | 0 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |
Total, Revolving Loans | 279,186 | 303,868 | |
Total, Revolving Converted to Term Loans | 20,421 | 21,680 | |
Total loans | 299,734 | 326,296 | |
Loans originated in current year, write offs | 0 | 0 | |
Loans originated year prior, write offs | 0 | 0 | |
Loans originated three years prior, write offs | 0 | 0 | |
Loans originated four years prior, write offs | 0 | 0 | |
Loans originated five years prior, write offs | 0 | 0 | |
Total, Loans Amortized Cost Basis by Origination Year Prior, Write Offs | 0 | 0 | |
Total, Revolving Loans Write Offs | 0 | 0 | |
Total, Revolving Converted to Term Loans, Write Offs | 0 | 0 | |
YTD gross writeoffs | 0 | 0 | |
Total loans | 299,734 | 326,296 | |
Equity Lines Portfolio Segment [Member] | Pass [Member] | |||
Loans originated in current year | 0 | 731 | |
Loans originated year prior | 127 | 0 | |
Loans originated three years prior | 0 | 0 | |
Loans originated four years prior | 0 | 0 | |
Loans originated five years prior | 0 | 0 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |
Total, Revolving Loans | 277,548 | 302,825 | |
Total, Revolving Converted to Term Loans | 20,217 | 21,460 | |
Total loans | 297,892 | 325,016 | |
Total loans | 297,892 | 325,016 | |
Equity Lines Portfolio Segment [Member] | Special Mention [Member] | |||
Loans originated in current year | 0 | 5 | |
Loans originated year prior | 0 | 0 | |
Loans originated three years prior | 0 | 0 | |
Loans originated four years prior | 0 | 0 | |
Loans originated five years prior | 0 | 0 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |
Total, Revolving Loans | 11 | 0 | |
Total, Revolving Converted to Term Loans | 0 | 0 | |
Total loans | 11 | 5 | |
Total loans | 11 | 5 | |
Equity Lines Portfolio Segment [Member] | Substandard [Member] | |||
Loans originated in current year | 0 | 12 | |
Loans originated year prior | 0 | 0 | |
Loans originated three years prior | 0 | 0 | |
Loans originated four years prior | 0 | 0 | |
Loans originated five years prior | 0 | 0 | |
Total, Loans Amortized Cost Basis by Origination Year Prior | 0 | 0 | |
Total, Revolving Loans | 1,627 | 1,043 | |
Total, Revolving Converted to Term Loans | 204 | 220 | |
Total loans | 1,831 | 1,275 | |
Total loans | 1,831 | 1,275 | |
Installment and Other Loans [Member ] | |||
Loans originated in current year | 241 | 1,792 | |
Loans originated year prior | 2,573 | 2,152 | |
Loans originated three years prior | 2,778 | 0 | |
Loans originated four years prior | 0 | 0 | |
Loans originated five years prior | 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 | 5,592 | 3,944 | |
Loans originated in current year, write offs | 0 | 115 | |
Loans originated year prior, write offs | 6 | 0 | |
Loans originated three years prior, write offs | 0 | 0 | |
Loans originated four years prior, write offs | 0 | 0 | |
Loans originated five years prior, write offs | 0 | 0 | |
Total, Loans Amortized Cost Basis by Origination Year Prior, Write Offs | 0 | 0 | |
Total, Revolving Loans Write Offs | 0 | 62 | |
Total, Revolving Converted to Term Loans, Write Offs | 0 | 0 | |
YTD gross writeoffs | 6 | $ 0 | 177 |
Total loans | 5,592 | 3,944 | |
Installment and Other Loans [Member ] | Pass [Member] | |||
Loans originated in current year | 241 | 1,792 | |
Loans originated year prior | 2,573 | 2,152 | |
Loans originated three years prior | 2,778 | 0 | |
Loans originated four years prior | 0 | 0 | |
Loans originated five years prior | 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 | 5,592 | 3,944 | |
Total loans | $ 5,592 | $ 3,944 |
Note 9 - Loans - Allowance for
Note 9 - Loans - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Balance | $ 146,485 | $ 136,157 | $ 136,157 |
(Reversal)/provision for credit losses on loans | 3,255 | 9,339 | |
Charge-offs | (7,907) | (221) | (5,490) |
Recoveries | 3,051 | 511 | |
Net (charge-offs)/recoveries | (4,856) | 290 | |
Balance | 144,884 | 145,786 | 146,485 |
Provision for credit losses | 8,100 | 8,643 | |
Commitments to Extend Credit [Member] | |||
Balance | 8,730 | 7,100 | 7,100 |
Balance | 13,575 | 6,404 | 8,730 |
Provision for credit losses | 4,845 | (696) | |
Commercial Portfolio Segment [Member] | |||
Balance | 49,435 | 43,394 | 43,394 |
(Reversal)/provision for credit losses on loans | (60) | 1,206 | |
Charge-offs | (3,911) | (221) | (3,222) |
Recoveries | 511 | 359 | |
Net (charge-offs)/recoveries | (3,400) | 138 | |
Balance | 45,975 | 44,738 | 49,435 |
Commercial Portfolio Segment [Member] | Commitments to Extend Credit [Member] | |||
Balance | 4,840 | 3,725 | 3,725 |
Balance | 8,275 | 3,177 | 4,840 |
Provision for credit losses | 3,435 | (548) | |
Real Estate Construction Portfolio Segment [Member] | |||
Balance | 10,417 | 6,302 | 6,302 |
(Reversal)/provision for credit losses on loans | 483 | 1,128 | |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 6 | |
Net (charge-offs)/recoveries | 0 | 6 | |
Balance | 10,900 | 7,436 | 10,417 |
Real Estate Construction Portfolio Segment [Member] | Commitments to Extend Credit [Member] | |||
Balance | 3,890 | 3,375 | 3,375 |
Balance | 5,215 | 3,227 | 3,890 |
Provision for credit losses | 1,325 | (148) | |
Commercial Real Estate Portfolio Segment [Member] | |||
Balance | 68,366 | 61,081 | 61,081 |
(Reversal)/provision for credit losses on loans | 3,463 | 2,702 | |
Charge-offs | (3,990) | 0 | (2,091) |
Recoveries | 2,528 | 95 | |
Net (charge-offs)/recoveries | (1,462) | 95 | |
Balance | 70,367 | 63,878 | 68,366 |
Commercial Real Estate Portfolio Segment [Member] | Commitments to Extend Credit [Member] | |||
Balance | 0 | 0 | 0 |
Balance | 85 | 0 | 0 |
Provision for credit losses | 85 | 0 | |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | |||
Balance | 18,232 | 25,379 | 25,379 |
(Reversal)/provision for credit losses on loans | (611) | 4,200 | |
Charge-offs | 0 | 0 | |
Recoveries | 12 | 51 | |
Net (charge-offs)/recoveries | 12 | 51 | |
Balance | 17,633 | 29,630 | 18,232 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Commitments to Extend Credit [Member] | |||
Balance | 0 | 0 | 0 |
Balance | 0 | 0 | 0 |
Provision for credit losses | 0 | 0 | |
Installment and Other Loans [Member ] | |||
Balance | 35 | 1 | 1 |
(Reversal)/provision for credit losses on loans | (20) | 103 | |
Charge-offs | (6) | 0 | (177) |
Recoveries | 0 | 0 | |
Net (charge-offs)/recoveries | (6) | 0 | |
Balance | 9 | 104 | 35 |
Installment and Other Loans [Member ] | Commitments to Extend Credit [Member] | |||
Balance | 0 | 0 | 0 |
Balance | 0 | 0 | $ 0 |
Provision for credit losses | $ 0 | $ 0 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Qualified Affordable Housing and Alternative Energy Partnerships [Member] | ||
Other Commitment | $ 126.2 | $ 133.5 |
Note 11 - Borrowed Funds (Detai
Note 11 - Borrowed Funds (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Advance from Federal Home Loan Bank | $ 360,000 | $ 485,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 6,550,000 | |
Debt Securities, Available-for-Sale | 1,541,250 | 1,473,348 |
Junior Subordinated Notes, Noncurrent | $ 119,100 | $ 119,100 |
Junior Subordinated Debt [Member] | ||
Debt Instrument, Interest Rate, Effective Percentage | 7.04% | 4.01% |
Debt Instrument, Term (Year) | 30 years | |
Federal Home Loan Bank Securities [Member] | Asset Not Pledged as Collateral [Member] | ||
Debt Securities, Available-for-Sale | $ 1,400,000 | |
Mature in April 2023 [Member] | ||
Advance from Federal Home Loan Bank | 275,000 | |
Mature in May 2023 [Member] | ||
Advance from Federal Home Loan Bank | 70,000 | |
Mature in September 2024 [Member] | ||
Advance from Federal Home Loan Bank | 15,000 | |
Over-night Borrowings [Member] | ||
Advance from Federal Home Loan Bank | 0 | $ 150,000 |
Non Overnight Borrowings [Member] | ||
Advance from Federal Home Loan Bank | $ 360,000 | $ 335,000 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 5% | 4.54% |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Effective Income Tax Rate Reconciliation, Percent | 16.80% | 23.50% |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Open Tax Year | 2020 2021 2022 | |
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | ||
Open Tax Year | 2019 2020 2021 2022 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements and Fair Value of Financial Instruments (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) | Mar. 31, 2023 USD ($) | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 4,067 | $ 4,067 |
Minimum [Member] | ||
Estimated Sales Cost Applied To Collateral | 3% | |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.0425 | |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.2014 | |
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 | 0.0511 | |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.2769 | |
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 | $ 4,100 | $ 4,100 |
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 | Mar. 31, 2023 | Dec. 31, 2022 |
Securities available-for-sale | $ 1,541,250 | $ 1,473,348 |
Equity securities | 27,011 | 22,158 |
Assets, fair value disclosure | 1,618,856 | 1,540,447 |
Liabilities, fair value disclosure | 42,456 | 52,806 |
Mutual Funds [Member] | ||
Equity securities | 1,047 | 5,509 |
Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 5,597 | 1,289 |
Other Equity Securities [Member] | ||
Equity securities | 20,367 | 15,360 |
Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 49,620 | 44,443 |
Liabilities, fair value disclosure | 42,027 | 51,864 |
Warrant [Member] | ||
Assets, fair value disclosure | 50 | |
Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 975 | 448 |
Liabilities, fair value disclosure | 429 | 942 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 269,698 | 240,500 |
Equity securities | 27,011 | 22,158 |
Assets, fair value disclosure | 296,709 | 262,658 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member] | ||
Equity securities | 1,047 | 5,509 |
Fair Value, Inputs, Level 1 [Member] | Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 5,597 | 1,289 |
Fair Value, Inputs, Level 1 [Member] | Other Equity Securities [Member] | ||
Equity securities | 20,367 | 15,360 |
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] | Warrant [Member] | ||
Assets, fair value disclosure | 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 | 1,271,552 | 1,232,848 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 1,322,147 | 1,277,739 |
Liabilities, fair value disclosure | 42,456 | 52,806 |
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] | Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 49,620 | 44,443 |
Liabilities, fair value disclosure | 42,027 | 51,864 |
Fair Value, Inputs, Level 2 [Member] | Warrant [Member] | ||
Assets, fair value disclosure | 0 | |
Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 975 | 448 |
Liabilities, fair value disclosure | 429 | 942 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 0 | 50 |
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] | Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Warrant [Member] | ||
Assets, fair value disclosure | 50 | |
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 | 269,698 | 240,500 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 269,698 | 240,500 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Government Corporations and Agencies Securities [Member] | ||
Securities available-for-sale | 59,931 | 63,610 |
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 | 59,931 | 63,610 |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 40,014 | 30,000 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 40,014 | 30,000 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Commercial Mortgage-Backed Securities [Member] | ||
Securities available-for-sale | 857,302 | 867,094 |
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 | 857,302 | 867,094 |
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 | 30,967 | 31,061 |
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 | 30,967 | 31,061 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale | 283,338 | 241,083 |
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 | 283,338 | 241,083 |
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 | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Assets, fair value disclosure | $ 1,618,856 | $ 1,540,447 | |||
Total Losses | 6,783 | $ 0 | 4,145 | $ 1,172 | |
Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 23,828 | 59,158 | |||
Fair Value, Inputs, Level 1 [Member] | |||||
Assets, fair value disclosure | 296,709 | 262,658 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | |||||
Assets, fair value disclosure | 1,322,147 | 1,277,739 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | |||||
Assets, fair value disclosure | 0 | 50 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 23,828 | 59,158 | |||
Impaired Loans [Member] | |||||
Total Losses | 6,783 | 0 | 3,877 | 1,012 | |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 18,939 | 54,141 | |||
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 0 | 0 | |||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 0 | 0 | |||
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 18,939 | 54,141 | |||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | |||||
Total Losses | 2,793 | 0 | 1,786 | 1,012 | |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 11,032 | 12,950 | |||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 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 | |||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 11,032 | 12,950 | |||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Total Losses | 3,990 | 0 | 2,091 | 0 | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 7,907 | 32,205 | |||
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 | |||
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 | |||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 7,907 | 32,205 | |||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | |||||
Assets, fair value disclosure | 0 | 8,978 | |||
Total Losses | 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 | |||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Assets, fair value disclosure | 0 | 0 | |||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Assets, fair value disclosure | 0 | 8,978 | |||
Impaired Loans [Member] | Installment and Other Loans [Member ] | |||||
Assets, fair value disclosure | 8 | ||||
Total Losses | 0 | 0 | |||
Impaired Loans [Member] | Installment and Other Loans [Member ] | Fair Value, Inputs, Level 1 [Member] | |||||
Assets, fair value disclosure | 0 | ||||
Impaired Loans [Member] | Installment and Other Loans [Member ] | Fair Value, Inputs, Level 2 [Member] | |||||
Assets, fair value disclosure | 0 | ||||
Impaired Loans [Member] | Installment and Other Loans [Member ] | Fair Value, Inputs, Level 3 [Member] | |||||
Assets, fair value disclosure | 8 | ||||
Other Real Estate Owned [Member] | |||||
Total Losses | [1] | 0 | 0 | 0 | 17 |
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | [1] | 4,328 | 4,328 | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | [1] | 0 | 0 | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | [1] | 0 | 0 | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | [1] | 4,328 | 4,328 | ||
Investments in Venture Capital [Member] | |||||
Total Losses | 0 | $ 0 | 268 | $ 143 | |
Investments in Venture Capital [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 561 | 689 | |||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 0 | 0 | |||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | 0 | 0 | |||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | |||||
Assets, fair value disclosure | $ 561 | $ 689 | |||
[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 | Mar. 31, 2023 | Dec. 31, 2022 | |
Securities available-for-sale | $ 1,541,250 | $ 1,473,348 | |
Equity securities | 27,011 | 22,158 | |
Warrants | 71,840 | 90,451 | |
Foreign exchange contracts with gain | 234,733 | 72,996 | |
Foreign exchange contracts with gain, fair value | 975 | 448 | |
Interest rate swaps | 933,688 | 817,615 | |
Interest rate swaps, fair value | 49,620 | 44,443 | |
Foreign exchange contracts with loss | 42,753 | 170,213 | |
Foreign exchange contracts with loss, fair value | 429 | 942 | |
Interest rate swaps | 592,514 | 595,426 | |
Interest rate swaps, fair value | 42,027 | 51,864 | |
Commitments to extend credit | 3,806,329 | 3,630,304 | |
Commitments to extend credit, fair value | (13,896) | (14,797) | |
Standby letters of credit | 332,575 | 315,821 | |
Standby letters of credit, fair value | (2,825) | (2,738) | |
Other letters of credit | 9,073 | 29,416 | |
Other letters of credit, fair value | (8) | (33) | |
Reported Value Measurement [Member] | |||
Cash and due from banks | 252,048 | 195,440 | |
Short-term investments | 881,282 | 966,962 | |
Securities available-for-sale | 1,541,250 | 1,473,348 | |
Loans, net | 18,166,583 | 18,100,898 | |
Equity securities | 27,011 | 22,158 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 18,648,872 | 18,505,279 | |
Advances from Federal Home Loan Bank | 360,000 | 485,000 | |
Other borrowings | 22,481 | 22,600 | |
Long-term debt | 119,136 | 119,136 | |
Reported Value Measurement [Member] | Warrants [Member] | |||
Warrants | 0 | 50 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 252,048 | 195,440 | |
Short-term investments | 881,282 | 966,962 | |
Securities available-for-sale | 1,541,250 | 1,473,348 | |
Loans, net | [1] | 18,195,465 | 17,944,588 |
Equity securities | 27,011 | 22,158 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 18,798,687 | 18,572,387 | |
Advances from Federal Home Loan Bank | 358,334 | 482,737 | |
Other borrowings | 18,461 | 18,385 | |
Long-term debt | 61,939 | 68,231 | |
Estimate of Fair Value Measurement [Member] | Warrants [Member] | |||
Warrants | $ 0 | $ 50 | |
[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 | Mar. 31, 2023 | Dec. 31, 2022 | |
Debt Securities, Available-for-Sale | $ 1,541,250 | $ 1,473,348 | |
Equity securities | 27,011 | 22,158 | |
Warrants | 71,840 | 90,451 | |
Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-Sale | 269,698 | 240,500 | |
Equity securities | 27,011 | 22,158 | |
Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-Sale | 1,271,552 | 1,232,848 | |
Equity securities | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-Sale | 0 | 0 | |
Equity securities | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 252,048 | 195,440 | |
Short-term investments. | 881,282 | 966,962 | |
Debt Securities, Available-for-Sale | 1,541,250 | 1,473,348 | |
Loans, net | [1] | 18,195,465 | 17,944,588 |
Equity securities | 27,011 | 22,158 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 18,798,687 | 18,572,387 | |
Advances from Federal Home Loan Bank | 358,334 | 482,737 | |
Other borrowings | 18,461 | 18,385 | |
Long-term debt | 61,939 | 68,231 | |
Estimate of Fair Value Measurement [Member] | Warrants [Member] | |||
Warrants | 0 | 50 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and due from banks | 252,048 | 195,440 | |
Short-term investments. | 881,282 | 966,962 | |
Debt Securities, Available-for-Sale | 269,698 | 240,500 | |
Loans, net | [1] | 0 | 0 |
Equity securities | 27,011 | 22,158 | |
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 | ||
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 | 1,271,552 | 1,232,848 | |
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 | 358,334 | 482,737 | |
Other borrowings | 0 | 0 | |
Long-term debt | 61,939 | 68,231 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Warrants [Member] | |||
Warrants | 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 | 0 | 0 | |
Loans, net | [1] | 18,195,465 | 17,944,588 |
Equity securities | 0 | 0 | |
Investment in Federal Home Loan Bank stock | 0 | 0 | |
Deposits | 18,798,687 | 18,572,387 | |
Advances from Federal Home Loan Bank | 0 | 0 | |
Other borrowings | 18,461 | 18,385 | |
Long-term debt | $ 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Warrants [Member] | |||
Warrants | $ 50 | ||
[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 Other _3
Note 14 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Feb. 07, 2022 | |
Goodwill, Ending Balance | $ 375,696 | $ 375,696 | ||
Amortization of Intangible Assets | 250 | $ 224 | ||
Core Deposits [Member] | ||||
Amortization of Intangible Assets | 250 | $ 224 | ||
Core Deposits [Member] | Amortization of Core Deposit Intangibles [Member] | ||||
Impairment of Intangible Assets, Finite-Lived | $ 0 | 918 | ||
HSBC Bank USA West Coast Mass Market Consumer and Retail Banking Business [Member] | ||||
Goodwill, Ending Balance | $ 3,517 | |||
HSBC Bank USA West Coast Mass Market Consumer and Retail Banking Business [Member] | Core Deposits [Member] | ||||
Finite-Lived Intangible Assets Acquired | $ 3,100 |
Note 14 - Goodwill and Other _4
Note 14 - Goodwill and Other Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Net carrying balance | $ 5,103 | |
Core Deposits [Member] | ||
Gross balance | 10,562 | $ 10,562 |
Accumulated amortization | (5,459) | (4,291) |
Net carrying balance | 5,103 | 5,353 |
Core Deposits [Member] | Amortization of Core Deposit Intangibles [Member] | ||
Impairment. | $ 0 | $ (918) |
Note 14 - Goodwill and Other _5
Note 14 - Goodwill and Other Intangible Assets - Maturity Schedule of Intangible Assets (Details) $ in Thousands | Mar. 31, 2023 USD ($) |
2023 | $ 1,001 |
2024 | 1,001 |
2025 | 914 |
2026 | 870 |
2027 | 870 |
Thereafter. | 447 |
Total | $ 5,103 |
Note 15 - Financial Derivativ_3
Note 15 - Financial Derivatives (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
May 31, 2014 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Junior Subordinated Notes, Total | $ 119,100 | |||
Collateral Already Posted, Aggregate Fair Value | $ 0 | $ 0 | ||
Interest Rate Swap [Member] | ||||
Derivative, Notional Amount | 138,200 | |||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Outstanding, Notional Amount | $ 119,100 | 592,500 | 595,400 | |
Derivative, Notional Amount | 807,332 | 874,034 | ||
Derivative Original Maturity (Year) | 10 years | |||
Deferred Gain on Early Termination of Derivative | 4,000 | |||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Central Counterparties (CCP) [Member] | ||||
Derivative, Notional Amount | 20,500 | 205,600 | ||
Derivative, Gain on Derivative | 1,600 | $ 689 | $ 20,200 | |
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative, Notional Amount | $ 807,300 | |||
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 | |||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Central Counterparties (CCP) [Member] | ||||
Derivative, Notional Amount | $ 448,700 | |||
Derivative, Gain on Derivative | 22,200 | |||
Loans Receivable with Partial-term Hedging Designation [Member] | ||||
Derivative, Notional Amount | 1,190,000 | |||
Hedged Asset, Fair Value Hedge | 669,200 | |||
Hedged Asset, Fair Value Hedge, Portfolio Layer Method, Hedged Layer, Fair Value, Cumulative Increase (Decrease) | $ 23,700 |
Note 15 - Financial Derivativ_4
Note 15 - Financial Derivatives - Cash Flow Swap Hedges (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | ||
Net unrealized gain (1) | $ (441,000) | $ 3,054,000 | ||
Interest Rate Swap [Member] | ||||
Notional | 138,200,000 | |||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Notional | $ 807,332,000 | $ 874,034,000 | ||
Weighted average fixed rate-pay | 1.92% | 2.12% | ||
Weighted average variable rate spread | 0.44% | 0.68% | ||
Weighted average variable rate-receive | 5.04% | 2.61% | ||
Net unrealized gain (1) | $ 29,815 | $ 38,589 | ||
Periodic net settlement of swaps | [1] | $ 6,336,000 | $ (1,762,000) | |
[1]the amount of periodic net settlement of interest rate swaps was included in interest expense. |
Note 15 - Financial Derivativ_5
Note 15 - Financial Derivatives - Not Designated as Hedging (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Spot, Forward, and Swap Contracts with Negative Fair Value [Member] | ||
Notional | $ 234,733 | $ 72,996 |
Forward, and swap contracts with positive fair value | 975 | 448 |
Spot, Forward, and Swap Contracts with Positive Fair Value [Member] | ||
Notional | 42,753 | 170,213 |
Forward, and swap contracts with positive fair value | $ (429) | $ (942) |
Note 16 - Balance Sheet Offse_3
Note 16 - Balance Sheet Offsetting - Financial Instruments That Are Eligible for Offset in the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Derivative assets, gross | $ 71,840 | $ 90,451 |
Derivatives, Gross Amounts Offset in the Balance Sheet | 22,220 | 46,008 |
Derivative assets, net | 49,620 | 44,443 |
Derivatives, collateral posted | 49,620 | 42,930 |
Derivative assets not offset | 0 | 1,513 |
Derivative liabilities, gross | 42,027 | 51,864 |
Derivatives, Gross Amounts Offset in the Balance Sheet | 0 | 0 |
Derivative liabilities, net | 42,027 | 51,864 |
Derivatives, collateral posted | 0 | 0 |
Derivative liabilities not offset | $ 42,027 | $ 51,864 |
Note 17 - Revenue from Contra_3
Note 17 - Revenue from Contracts with Customers - Summary of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Revenues | $ 9,960 | $ 10,833 | |
Noninterest income, not in-scope(2) | [1],[2] | 4,284 | 9,399 |
Total noninterest income | 14,244 | 20,232 | |
Fees and Services Charges on Deposit Account [Member] | |||
Revenues | 2,519 | 2,410 | |
Wealth Management Fees [Member] | |||
Revenues | 3,897 | 4,354 | |
Other Service Fees [Member] | |||
Revenues | [1] | $ 3,544 | $ 4,069 |
[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 contracts with customers that are out of the scope of ASC Topic 606. |
Note 18 - Stockholders' Equit_2
Note 18 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||||
Feb. 21, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Equity, Attributable to Parent | $ 2,542,339 | $ 2,422,230 | $ 2,474,040 | $ 2,446,251 | |
Stockholders' Equity, Period Increase (Decrease) | 68,300 | ||||
Net Income (Loss) Attributable to Parent | 96,007 | 75,028 | |||
Other Comprehensive Income (Loss), Net of Tax | 11,218 | (42,912) | |||
Share-Based Payment Arrangement, Noncash Expense | 1,500 | ||||
Proceeds from Issuance of Common Stock, Dividend Reinvestment Plan | 918 | 945 | |||
Dividends, Common Stock, Cash | 24,605 | 25,515 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 16,600 | $ 16,736 | $ 32,896 |
Note 18 - Stockholders' Equit_3
Note 18 - Stockholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Beginning balance, loss, net of tax | $ 2,474,040 | $ 2,446,251 |
Total other comprehensive (loss)/income, net of tax | 11,218 | (42,912) |
Ending balance, loss, net of tax | 2,542,339 | 2,422,230 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||
Beginning balance, loss, net of tax | (104,832) | 211 |
Net unrealized (losses)/gains arising during the period, pre-tax | 13,552 | (65,256) |
Net unrealized (losses)/gains arising during the period, tax | 4,006 | (19,290) |
Net unrealized (losses)/gains arising during the period, net of tax | 9,546 | (45,966) |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | (3,000) | 0 |
Reclassification adjustment for net losses/(gains) included in net income, tax | (887) | 0 |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | (2,113) | 0 |
Total other comprehensive (loss)/income, pre-tax | 16,552 | (65,256) |
Total other comprehensive (loss)/income, tax | 4,893 | (19,290) |
Total other comprehensive (loss)/income, net of tax | 11,659 | (45,966) |
Ending balance, loss, net of tax | (93,173) | (45,755) |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||
Beginning balance, loss, net of tax | 2,537 | (3,276) |
Net unrealized (losses)/gains arising during the period, pre-tax | (626) | 4,336 |
Net unrealized (losses)/gains arising during the period, tax | (185) | 1,282 |
Net unrealized (losses)/gains arising during the period, net of tax | (441) | 3,054 |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 0 | 0 |
Reclassification adjustment for net losses/(gains) included in net income, tax | 0 | 0 |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 0 | 0 |
Total other comprehensive (loss)/income, pre-tax | (626) | 4,336 |
Total other comprehensive (loss)/income, tax | (185) | 1,282 |
Total other comprehensive (loss)/income, net of tax | (441) | 3,054 |
Ending balance, loss, net of tax | 2,096 | (222) |
AOCI Attributable to Parent [Member] | ||
Beginning balance, loss, net of tax | (102,295) | (3,065) |
Net unrealized (losses)/gains arising during the period, pre-tax | 12,926 | (60,920) |
Net unrealized (losses)/gains arising during the period, tax | 3,821 | (18,008) |
Net unrealized (losses)/gains arising during the period, net of tax | 9,105 | (42,912) |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | (3,000) | 0 |
Reclassification adjustment for net losses/(gains) included in net income, tax | (887) | 0 |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | (2,113) | 0 |
Total other comprehensive (loss)/income, pre-tax | 15,926 | (60,920) |
Total other comprehensive (loss)/income, tax | 4,708 | (18,008) |
Total other comprehensive (loss)/income, net of tax | 11,218 | (42,912) |
Ending balance, loss, net of tax | $ (91,077) | $ (45,977) |
Note 19 - Stock Repurchase Pr_2
Note 19 - Stock Repurchase Program (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Feb. 21, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | |
Treasury Stock, Shares, Acquired (in shares) | 375,090 | ||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 44.20 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 16,600 | $ 16,736 | $ 32,896 |