Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 07, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000885275 | |
Entity Registrant Name | WILSON BANK HOLDING CO | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 0-20402 | |
Entity Incorporation, State or Country Code | TN | |
Entity Tax Identification Number | 62-1497076 | |
Entity Address, Address Line One | 623 West Main Street | |
Entity Address, City or Town | Lebanon | |
Entity Address, State or Province | TN | |
Entity Address, Postal Zip Code | 37087 | |
City Area Code | 615 | |
Local Phone Number | 444-2265 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 11,084,022 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Loans | $ 2,334,329 | $ 2,321,305 |
Less: Allowance for loan losses | (39,330) | (38,539) |
Net loans | 2,294,999 | 2,282,766 |
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 613,932 | 580,543 |
Loans held for sale | 28,635 | 19,474 |
Interest bearing deposits | 411,491 | 304,750 |
Restricted equity securities | 5,089 | 5,089 |
Federal funds sold | 675 | 675 |
Total earning assets | 3,354,821 | 3,193,297 |
Cash and due from banks | 44,363 | 33,431 |
Bank premises and equipment, net | 57,680 | 58,202 |
Accrued interest receivable | 7,933 | 7,516 |
Deferred income tax asset | 10,158 | 7,089 |
Other real estate | 183 | 0 |
Bank owned life insurance | 35,401 | 35,197 |
Other assets | 33,161 | 30,067 |
Goodwill | 4,805 | 4,805 |
Total assets | 3,548,505 | 3,369,604 |
Liabilities and Stockholders’ Equity | ||
Deposits | 3,140,826 | 2,960,595 |
Federal Home Loan Bank advances | 0 | 3,638 |
Accrued interest and other liabilities | 26,452 | 25,250 |
Total liabilities | 3,167,278 | 2,989,483 |
Stockholders’ equity: | ||
Common stock, $2.00 par value; authorized 50,000,000 shares, issued and outstanding 11,083,997 and 10,993,404 shares, respectively | 22,168 | 21,987 |
Additional paid-in capital | 98,150 | 93,034 |
Retained earnings | 262,483 | 257,935 |
Net unrealized gains (losses) on available-for-sale securities, net of income taxes of $557 and $2,536, respectively | (1,574) | 7,165 |
Total stockholders’ equity | 381,227 | 380,121 |
Total liabilities and stockholders’ equity | $ 3,548,505 | $ 3,369,604 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Loans, allowance for loan losses | $ 616,063 | $ 570,842 |
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 11,083,997 | 10,993,404 |
Common stock, shares outstanding (in shares) | 11,083,997 | 10,993,404 |
Net unrealized losses on available-for-sale securities, income taxes | $ 557 | $ 2,536 |
Consolidated Statements of Earn
Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest income: | ||
Interest and fees on loans | $ 28,493 | $ 27,276 |
Interest and dividends on securities: | ||
Taxable securities | 1,692 | 2,040 |
Exempt from federal income taxes | 323 | 242 |
Interest on loans held for sale | 100 | 108 |
Interest on federal funds sold | 0 | 56 |
Interest on balances held at depository institutions | 108 | 316 |
Interest and dividends on restricted securities | 26 | 49 |
Total interest income | 30,742 | 30,087 |
Interest expense: | ||
Interest on negotiable order of withdrawal accounts | 211 | 443 |
Interest on money market and savings accounts | 540 | 1,359 |
Interest on time deposits | 2,149 | 3,041 |
Interest on Federal Home Loan Bank advances | 133 | 151 |
Total interest expense | 3,033 | 4,994 |
Net interest income before provision for loan losses | 27,709 | 25,093 |
Provision for loan losses | 827 | 1,469 |
Net interest income after provision for loan losses | 26,882 | 23,624 |
Service charges on deposit accounts | 1,325 | 1,675 |
Brokerage income | 1,398 | 1,189 |
Debit and credit card interchange income | 2,529 | 2,003 |
Other fees and commissions | 518 | 316 |
Income on BOLI and annuity contracts | 204 | 183 |
Gain on sale of loans | 3,606 | 911 |
Gain on sale of securities | 0 | 158 |
Gain on sale of other assets | 1 | 0 |
Total non-interest income | 9,581 | 6,435 |
Salaries and employee benefits | 13,300 | 11,132 |
Occupancy expenses, net | 1,291 | 1,150 |
Advertising & public relations expense | 487 | 616 |
Furniture and equipment expense | 826 | 768 |
Data processing expense | 1,387 | 1,169 |
ATM & interchange expense | 1,090 | 873 |
Directors’ fees | 157 | 158 |
Audit, legal & consulting expenses | 189 | 180 |
Other operating expenses | 2,944 | 2,656 |
Total non-interest expense | 21,671 | 18,702 |
Earnings before income taxes | 14,792 | 11,357 |
Income taxes | 3,648 | 2,326 |
Net earnings | $ 11,144 | $ 9,031 |
Weighted average number of common shares outstanding-basic (in shares) | 11,079,350 | 10,864,866 |
Weighted average number of common shares outstanding-diluted (in shares) | 11,108,566 | 10,886,456 |
Basic earnings per common share (in dollars per share) | $ 1.01 | $ 0.83 |
Diluted earnings per common share (in dollars per share) | 1 | 0.83 |
Dividends per common share (in dollars per share) | $ 0.60 | $ 0.60 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Earnings (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net earnings | $ 11,144 | $ 9,031 |
Other comprehensive earnings (losses), net of tax: | ||
Unrealized gains (losses) on available-for-sale securities arising during period, net of income taxes of $3,093 and $1,493, respectively | (8,739) | 4,220 |
Reclassification adjustment for net losses (gains) on the sale of securities included in net earnings, net of taxes of $0 and $41, respectively | 0 | (117) |
Other comprehensive earnings (losses) | (8,739) | 4,103 |
Comprehensive earnings | $ 2,405 | $ 13,134 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Earnings (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net unrealized gains (losses) on available-for-sale securities arising during period, taxes | $ 3,093 | $ 1,493 |
Reclassification adjustment for net losses on the sale of securities included in net earnings, taxes | $ 0 | $ 41 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock Outstanding [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Total |
Balance at Dec. 31, 2019 | $ 21,586 | $ 82,249 | $ 232,456 | $ 693 | $ 336,984 | |||||
Cash dividends declared | 0 | 0 | (6,476) | 0 | (6,476) | |||||
Issuance of shares of common stock pursuant to dividend reinvestment plan | 183 | 4,825 | 0 | 0 | 5,008 | |||||
Issuance of shares of common stock pursuant to exercise of stock options | 14 | 225 | 0 | 0 | 239 | |||||
Share based compensation expense | 0 | 108 | 0 | 0 | 108 | |||||
Net change in fair value of available-for-sale securities during the period, net of taxes | Accounting Standards Update 2016-02 [Member] | $ 0 | $ 0 | $ 0 | $ 4,103 | $ 4,103 | |||||
Net earnings for the quarter | 0 | 0 | 9,031 | 0 | 9,031 | |||||
Balance at Mar. 31, 2020 | 21,783 | 87,407 | 235,011 | 4,796 | 348,997 | |||||
Balance at Dec. 31, 2020 | 21,987 | 93,034 | 257,935 | 7,165 | 380,121 | |||||
Cash dividends declared | 0 | 0 | (6,596) | 0 | (6,596) | |||||
Issuance of shares of common stock pursuant to dividend reinvestment plan | 167 | 4,735 | 0 | 0 | 4,902 | |||||
Issuance of shares of common stock pursuant to exercise of stock options | 14 | 262 | 0 | 0 | 276 | |||||
Share based compensation expense | 0 | 119 | 0 | 0 | 119 | |||||
Net change in fair value of available-for-sale securities during the period, net of taxes | 0 | 0 | 0 | (8,739) | (8,739) | |||||
Net earnings for the quarter | 0 | 0 | 11,144 | 0 | 11,144 | |||||
Balance at Mar. 31, 2021 | $ 22,168 | $ 98,150 | $ 262,483 | $ (1,574) | $ 381,227 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-02 [Member] | ||
Net change in fair value of available-for-sale securities during the period, taxes | $ 1,452 | |
Cash dividends declared, per share (in dollars per share) | $ 0.60 | $ 0.60 |
Issuance of shares of common stock pursuant to dividend reinvestment plan, shares (in shares) | 83,442 | 91,471 |
Issuance of shares of common stock, shares (in shares) | 7,151 | 7,202 |
Net change in fair value of available-for-sale securities during the period, taxes | $ 3,093 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
OPERATING ACTIVITIES | ||
Consolidated net income | $ 11,144 | $ 9,031 |
Adjustments to reconcile consolidated net income to net cash provided (used) by operating activities | ||
Provision for loan losses | 827 | 1,469 |
Deferred income taxes provision (benefit) | 24 | (46) |
Depreciation and amortization of premises and equipment | 1,055 | 998 |
Net amortization of securities | 1,285 | 771 |
Net realized gains on sales of securities | 0 | (158) |
Gains on mortgage loans sold, net | (3,606) | (911) |
Stock-based compensation expense | 418 | 178 |
Loss on sale of repossessed assets | 1 | 0 |
Increase in value of life insurance and annuity contracts | (330) | (97) |
Mortgage loans originated for resale | (78,769) | (34,451) |
Proceeds from sale of mortgage loans | 73,214 | 31,358 |
Gain on lease modification | 0 | (30) |
Right of use asset amortization | 96 | 88 |
Accrued interest receivable | (417) | (1,082) |
Other assets | (1,655) | (23) |
Accrued interest payable | (815) | (600) |
Other liabilities | 4,161 | 4,131 |
TOTAL ADJUSTMENTS | (4,511) | 1,595 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 6,633 | 10,626 |
INVESTING ACTIVITIES | ||
Purchases | (91,686) | (53,458) |
Sales | 0 | 19,998 |
Maturities, prepayments and calls | 45,180 | 52,323 |
Net increase in loans | (14,773) | (76,025) |
Purchase of buildings, leasehold improvements, and equipment | (533) | (465) |
Proceeds from sale of other assets | 69 | 0 |
NET CASH USED IN INVESTING ACTIVITIES | (61,743) | (57,627) |
FINANCING ACTIVITIES | ||
Net change in deposits - non-maturing | 182,391 | 79,718 |
Net change in deposits - time | (2,160) | (11,786) |
Net change in Federal Home Loan Bank Advances | (3,638) | (2,805) |
Change in escrow balances | (2,392) | 550 |
Issuance of common stock related to exercise of stock options | 276 | 239 |
Issuance of common stock pursuant to dividend reinvestment plan | 4,902 | 5,008 |
Cash dividends paid on common stock | (6,596) | (6,476) |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 172,783 | 64,448 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 117,673 | 17,447 |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 338,856 | 159,770 |
CASH AND CASH EQUIVALENTS - END OF PERIOD | 456,529 | 177,217 |
Supplemental disclosure of cash flow information: | ||
Interest | 3,848 | 5,594 |
Taxes | 991 | 906 |
Change in fair value of securities available-for-sale, net of taxes of $3,093 and $1,452 for the three months ended March 31, 2021 and 2020, respectively | (8,739) | 4,103 |
Non-cash transfers from loans to other real estate | 183 | 0 |
Non-cash transfers from loans to other assets | $ 68 | $ 0 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Unrealized gain in value of securities available-for-sale, taxes | $ 3,093 | $ 1,452 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1. Nature of Business Basis of Presentation 10 not 10 December 31, 2020 These consolidated financial statements include the accounts of the Company and the Bank. Significant intercompany transactions and accounts are eliminated in consolidation. Use of Estimates 10 December 31, 2020 no 10 December 31, 2020 Loans — Loans are charged off when management believes that the full collectability of the loan is unlikely. As such, a loan may Loans are placed on nonaccrual status when there is a significant deterioration in the financial condition of the borrower, which often is determined when the principal or interest on the loan is more than 90 not All loans that are placed on nonaccrual are further analyzed to determine if they should be classified as impaired loans. At December 31, 2020 March 31, 2021 not not one may Allowance for Loan Losses — In assessing the adequacy of the allowance, we also consider the results of our ongoing independent loan review process. We undertake this process both to ascertain whether there are loans in the portfolio whose credit quality has weakened over time and to assist in our overall evaluation of the risk characteristics of the entire loan portfolio. Our loan review process includes the judgment of management, independent loan reviewers, and reviews that may third may Recently Issued Accounting Pronouncements ASU 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13 2016 13 ASU 2016 13 January 1, 2020. March 27, 2020, 2016 13, 60 19 December 31, 2020, December 27, 2020, 2016 13, January 1, 2022. January 1, 2022. We currently believe the adoption of ASU 2016 13 January 1, 2020. March 31, 2021, 2016 13 March 31, 2021. Prior to the CARES Act being signed and the Company’s decision to delay the implementation of CECL, the Company was completing its CECL implementation plan with a cross-functional working group, under the direction of the Chief Credit Officer along with our Chief Financial Officer. The working group also included individuals from various functional areas including credit, risk management, accounting and information technology, among others. The Company’s implementation plan included assessment and documentation of processes, internal controls and data sources; model development, documentation and validation; and system configuration, among other things. The Company contracted with a third 2016 13 2016 13 not March 27, 2020 three three 75% 50% 25% not 2016 13 not ASU 2017 04, Intangibles - Goodwill and Other (Topic 350 2017 04 2 2017 04, not 2017 04 January 1, 2020, not ASU 2018 13, "Fair Value Measurement (Topic 820 2018 13 820. no 2018 13 January 1, 2020 not ASU 2020 4, Reference Rate Reform (Topic 848 2020 4 2020 04 not December 31, 2022, December 31, 2022, 2020 4 December 31, 2022. 2020 4 not ASU 2020 08, Codification Improvements to Subtopic 310 20, 2020 08 2020 8 January 1, 2021 not ASU 2021 01, Reference Rate Reform (Topic 848 2021 01 848 2021 01 848 2021 01 December 31, 2022. 2021 01 not Other than those previously discussed, there were no |
Note 2 - Loans and Allowance fo
Note 2 - Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 2. For financial reporting purposes, the Company classifies its loan portfolio based on the underlying collateral utilized to secure each loan. This classification is consistent with that utilized in the Quarterly Report of Condition and Income filed by the Bank with the Federal Deposit Insurance Corporation (“FDIC”). The following schedule details the loans of the Company at March 31, 2021 December 31, 2020 (In Thousands) March 31, 2021 December 31, 2020 Mortgage loans on real estate: Residential 1-4 family $ 527,092 $ 535,994 Multifamily 93,318 111,646 Commercial 865,388 837,766 Construction and land development 513,931 488,626 Farmland 12,377 15,429 Second mortgages 8,164 8,433 Equity lines of credit 76,633 78,889 Total mortgage loans on real estate 2,096,903 2,076,783 Commercial loans 170,712 172,811 Agricultural loans 1,019 1,206 Consumer installment loans Personal 62,403 66,193 Credit cards 4,321 4,324 Total consumer installment loans 66,724 70,517 Other loans 9,147 9,283 Total loans before net deferred loan fees 2,344,505 2,330,600 Net deferred loan fees (10,176 ) (9,295 ) Total loans 2,334,329 2,321,305 Less: Allowance for loan losses (39,330 ) (38,539 ) Net loans $ 2,294,999 $ 2,282,766 Risk characteristics relevant to each portfolio segment are as follows: Construction and land development: may may may 1 4 1 4 first second 1 4 first second second 1 4 Multi-family and commercial real estate: Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may third 50 third Commercial and Industrial: March 31, 2021 December 31, 2020 may not may may may Consumer: may one five may The adequacy of the allowance for loan losses is assessed at the end of each calendar quarter. The level of the allowance is based upon evaluation of the loan portfolio, past loan loss experience, current asset quality trends, known and inherent risks in the portfolio, adverse situations that may Transactions in the allowance for loan losses for the three March 31, 2021 2020 (In Thousands) Residential 1-4 Family Multifamily Commercial Real Estate Construction Farmland Second Mortgages Equity Lines of Credit Commercial Agricultural, Installment and Other Total March 31, 2021 Allowance for loan losses: Beginning balance $ 8,098 1,541 16,802 7,936 154 105 997 1,378 1,528 38,539 Provision (197 ) (207 ) 756 526 (30 ) (3 ) (27 ) (80 ) 89 827 Charge-offs — — — (1 ) — — — (3 ) (224 ) (228 ) Recoveries 38 — — 15 — — — — 139 192 Ending balance $ 7,939 1,334 17,558 8,476 124 102 970 1,295 1,532 39,330 Ending balance individually evaluated for impairment $ 558 — 141 — — — — — — 699 Ending balance collectively evaluated for impairment $ 7,381 1,334 17,417 8,476 124 102 970 1,295 1,532 38,631 Loans: Ending balance $ 527,092 93,318 865,388 513,931 12,377 8,164 76,633 170,712 76,890 2,344,505 Ending balance individually evaluated for impairment $ 2,314 — 962 — — — — — — 3,276 Ending balance collectively evaluated for impairment $ 524,778 93,318 864,426 513,931 12,377 8,164 76,633 170,712 76,890 2,341,229 Residential 1-4 Family Multifamily Commercial Real Estate Construction Farmland Second Mortgages Equity Lines of Credit Commercial Agricultural, Installment and Other Total March 31, 2020 Allowance for loan losses: Beginning balance $ 7,144 1,117 11,114 5,997 187 123 889 1,044 1,111 28,726 Provision 198 524 1,330 (816 ) (10 ) 4 (44 ) (46 ) 329 1,469 Charge-offs — — — — — — — — (355 ) (355 ) Recoveries 9 — 300 19 — — — — 113 441 Ending balance $ 7,351 1,641 12,744 5,200 177 127 845 998 1,198 30,281 Ending balance individually evaluated for impairment $ 715 — 220 — — — — — — 935 Ending balance collectively evaluated for impairment $ 6,636 1,641 12,524 5,200 177 127 845 998 1,198 29,346 Loans: Ending balance $ 519,775 151,929 841,521 388,769 18,610 11,254 74,908 95,547 67,374 2,169,687 Ending balance individually evaluated for impairment $ 1,429 — 999 — — — — — — 2,428 Ending balance collectively evaluated for impairment $ 518,346 151,929 840,522 388,769 18,610 11,254 74,908 95,547 67,374 2,167,259 Impaired Loans At March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2021 With no related allowance recorded: Residential 1-4 family $ 1,101 1,427 — 1,132 2 Multifamily — — — — — Commercial real estate 311 311 — 311 — Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 1,412 1,738 — 1,443 2 With related allowance recorded: Residential 1-4 family $ 1,217 1,214 558 1,230 15 Multifamily — — — — — Commercial real estate 654 651 141 658 8 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 1,871 1,865 699 1,888 23 Total Residential 1-4 family $ 2,318 2,641 558 2,362 17 Multifamily — — — — — Commercial real estate 965 962 141 969 8 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 3,283 3,603 699 3,331 25 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2020 With no related allowance recorded: Residential 1-4 family $ 1,162 1,507 — 395 26 Multifamily — — — — — Commercial real estate 311 311 — 311 — Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 1,473 1,818 — 706 26 With related allowance recorded: Residential 1-4 family $ 1,242 1,240 594 1,273 66 Multifamily — — — — — Commercial real estate 662 659 148 676 22 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 1,904 1,899 742 1,949 88 Total: Residential 1-4 family $ 2,404 2,747 594 1,668 92 Multifamily — — — — — Commercial real estate 973 970 148 987 22 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 3,377 3,717 742 2,655 114 Impaired loans also include loans that the Bank may may may Not Troubled Debt Restructuring The Bank’s loan portfolio includes certain loans that have been modified in a troubled debt restructuring ("TDR"), where economic or other concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Bank’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may six The following table summarizes the carrying balances of TDRs at March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 (In thousands) Performing TDRs $ 2,182 $ 2,147 Nonperforming TDRs 449 529 Total TDRS $ 2,631 $ 2,676 The following table outlines the amount of each troubled debt restructuring, categorized by loan classification, made during the three March 31, 2021 three March 31, 2020 March 31, 2021 March 31, 2020 Number of Contracts Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Number of Contracts Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Residential 1-4 family — $ — $ — — $ — $ — Multifamily — — — — — — Commercial real estate — — — 1 111 132 Construction — — — — — — Farmland — — — — — — Second mortgages — — — — — — Equity lines of credit — — — — — — Commercial — — — — — — Agricultural, installment and other — — — — — — Total — $ — $ — 1 $ 111 $ 132 As of March 31, 2021 no twelve March 31, 2020 one twelve In response to the COVID- 19 March 2020 90 90 six may not March 1, 2020 January 1, 2022 60 19 March 31, 2021 not none March 31, 2021 As of March 31, 2021 to approx December 31, 2020 Potential problem loans, which include nonperforming loans, amounted to approxim ately million at March 31, 2021 and million a December 31, 2020 The following summary presents the Bank's loan balances by primary loan classification and the amount classified within each risk rating category. Pass rated loans include all credits other than those included in special mention, substandard and doubtful which are defined as follows: • Special mention loans have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may • Substandard loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize liquidation of the debt. Substandard loans are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not • Doubtful loans have all the characteristics of substandard loans with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The Bank considers all doubtful loans to be impaired and places such loans on nonaccrual status. The following table is a summary of the Bank’s loan portfolio by risk rating at March 31, 2021 December 31, 2020 (In Thousands) Residential 1-4 Family Multifamily Commercial Real Estate Construction Farmland Second Mortgages Equity Lines of Credit Commercial Agricultural, installment and other Total March 31, 2021 Credit Risk Profile by Internally Assigned Rating Pass $ 520,890 93,318 864,802 513,383 12,257 7,886 76,612 170,684 76,696 2,336,528 Special Mention 2,207 — — 548 76 166 11 — 127 3,135 Substandard 3,995 — 586 — 44 112 10 28 67 4,842 Doubtful — — — — — — — — — — Total $ 527,092 93,318 865,388 513,931 12,377 8,164 76,633 170,712 76,890 2,344,505 December 31, 2020 Credit Risk Profile by Internally Assigned Rating Pass $ 529,546 111,646 837,028 488,571 15,301 8,148 78,565 172,779 80,770 2,322,354 Special Mention 2,745 — 149 27 79 169 314 — 156 3,639 Substandard 3,703 — 589 28 49 116 10 32 80 4,607 Doubtful — — — — — — — — — — Total $ 535,994 111,646 837,766 488,626 15,429 8,433 78,889 172,811 81,006 2,330,600 |
Note 3 - Debt and Equity Securi
Note 3 - Debt and Equity Securities | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3. Debt and equity securities have been classified in the consolidated balance sheet according to management’s intent. Debt and equity securities at March 31, 2021 December 31, 2020 March 31, 2021 Securities Available-For-Sale In Thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Market Value U.S. Government-sponsored enterprises (GSEs) $ 127,112 $ 109 $ 3,196 $ 124,025 Mortgage-backed securities 287,126 4,825 3,289 288,662 Asset-backed securities 39,755 397 22 40,130 Corporate bonds 2,500 44 — 2,544 Obligations of states and political subdivisions 159,570 2,302 3,301 158,571 $ 616,063 $ 7,677 $ 9,808 $ 613,932 December 31, 2020 Securities Available-For-Sale In Thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Market Value U.S. Government-sponsored enterprises (GSEs) $ 125,712 $ 328 $ 135 $ 125,905 Mortgage-backed securities 258,774 5,636 620 263,790 Asset-backed securities 36,394 582 19 36,957 Corporate bonds 2,500 100 — 2,600 Obligations of states and political subdivisions 147,462 4,229 400 151,291 $ 570,842 $ 10,875 $ 1,174 $ 580,543 Included in mortgage-backed securities are collateralized mortgage obligations totaling $96,315,000 (fair value of $95,688,000) and $88,472,000 (fair value of $89,116,000) at March 31, 2021 December 31, 2020 The amortized cost and estimated market value of debt securities at March 31, 2021 may Available-For-Sale In Thousands Amortized Cost Estimated Market Value Due in one year or less $ 1,196 $ 1,196 Due after one year through five years 40,212 40,767 Due after five years through ten years 188,093 184,576 Due after ten years 386,562 387,393 $ 616,063 $ 613,932 The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not March 31, 2021 December 31, 2020 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total March 31, 2021 Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Available-for-Sale Securities: GSEs $ 107,005 $ 3,196 42 $ — $ — — $ 107,005 $ 3,196 Mortgage-backed securities 135,822 3,268 59 6,569 21 12 142,391 3,289 Asset-backed securities 5,409 22 2 — — — 5,409 22 Obligations of states and political subdivisions 74,576 3,301 75 — — — 74,576 3,301 $ 322,812 $ 9,787 178 $ 6,569 $ 21 12 $ 329,381 $ 9,808 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Available-for-Sale Securities: GSEs $ 47,991 $ 135 18 $ — $ — — $ 47,991 $ 135 Mortgage-backed securities 78,381 573 29 6,776 47 12 85,157 620 Asset-backed securities 4,950 19 3 — — — 4,950 19 Corporate bonds — — — — — — — — Obligations of states and political subdivisions 44,061 394 33 689 6 1 44,750 400 $ 175,383 $ 1,121 83 $ 7,465 $ 53 13 $ 182,848 $ 1,174 Unrealized losses on securities have not not March 31, 2021 not not The carrying values of the Company’s investment securities could decline in the future if the financial condition of issuers deteriorates and management determines it is probable that the Company will not may |
Note 4 - Derivatives
Note 4 - Derivatives | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 4. Derivatives Designated as Fair Value Hedges For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged asset or liability attributable to the hedged risk are recognized in current earnings. The gain or loss on the derivative instrument is presented on the same income statement line item as the earnings effect of the hedged item. The Company utilizes interest rate swaps designated as fair value hedges to mitigate the effect of changing interest rates on the fair values of fixed rate loans. The hedging strategy on loans converts the fixed interest rates to LIBOR-based variable interest rates. These derivatives are designated as partial term hedges of selected cash flows covering specified periods of time prior to the maturity dates of the hedged loans. During the second 2020, one 1 A summary of the Company's fair value hedge relationships as of March 31, 2021 December 31, 2020 March 31, 2021 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Interest rate swap agreements - loans Other assets 9.17 0.65 % 1 month LIBOR $ 28,114 1,461 December 31, 2020 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Interest rate swap agreements - loans Other liabilities 9.42 0.65 % 1 month LIBOR $ 29,575 (51 ) The effects of fair value hedge relationships reported in interest income on loans on the consolidated statements of income for the three March 31, 2021 2020 Three Months Ended March 31, Gain (loss) on fair value hedging relationship 2021 2020 Interest rate swap agreements - loans: Hedged items $ (1,462 ) — Derivative designated as hedging instruments 1,512 — The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges at March 31, 2021 December 31, 2020 Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Line item on the balance sheet March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Loans $ 28,114 29,575 (1,620 ) (158 ) Mortgage Banking Derivatives C ommitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of mortgage loans to third March 31, 2021 and December 31, 2020 , the Company had approximately and , respectively, of interest rate lock commitments and approximately and , respectively, of forward commitments for the future delivery of residential mortgage loans. The fair value of these mortgage banking derivatives was reflected by derivative assets of and at March 31, 2021 and December 31, 2020 , respectively, and a d and a derivative liability of at March 31, 2021 and December 31, 2020 , respectively. Changes in the fair values of these mortgage-banking derivatives are included in net gains on sale of loans. The net gains (losses) relating to free-standing derivative instruments used for risk management is summarized below (in thousands): In Thousands March 31, 2021 March 31, 2020 Forward contracts related to mortgage loans held for sale and interest rate contracts $ 661 (362 ) Interest rate contracts for customers 6 175 The following table reflects the amount and fair value of mortgage banking derivatives included in the consolidated balance sheet as of March 31, 2021 December 31, 2020 In Thousands March 31, 2021 December 31, 2020 Notional Amount Fair Value Notional Amount Fair Value Included in other assets (liabilities): Interest rate contracts for customers $ 25,707 720 20,981 714 Forward contracts related to mortgage loans held-for-sale 31,000 504 21,250 (157 ) |
Note 5 - Equity Incentive Plan
Note 5 - Equity Incentive Plan | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 5. In April 2009, 2009 “2009 2009 April 14, 2009. 2009 2009 2009 2009 April 13, 2019, no may 2009 2009 March 31, 2021 2009 During the second 2016, 2016 2016 January 25, 2016 April 12, 2016. September 26, 2016, 2016 “2016 not may 2016 March 31, 2021 2016 March 31, 2021 2016 As of March 31, 2021 The following table summarizes information about stock options and cash-settled SARs for the three March 31, 2021 2020 March 31, 2021 March 31, 2020 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options and SARs outstanding at beginning of period 284,591 $ 43.71 273,039 $ 41.19 Granted 24,999 59.02 — — Exercised 28,801 40.02 7,654 33.82 Forfeited or expired — — 4,300 39.46 Outstanding at end of period 280,789 $ 45.45 261,085 $ 41.43 Options and SARs exercisable at March 31 141,993 $ 41.00 142,692 $ 40.40 As of March 31, 2021 |
Note 6 - Regulatory Capital
Note 6 - Regulatory Capital | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Restrictions on Dividends, Loans and Advances [Text Block] | Note 6. Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The net unrealized gain or loss on available for sale securities is not March 31, 2021 Prompt corrective action regulations provide five not March 31, 2021 December 31, 2020 no In 2018, 2018 $10.0 1 In October 2019, 1 9 not 9 1 not 25% two 7%. Pursuant to the CARES Act the required Community Bank Leverage Ratio was lowered to 8% December 31, 2020 60 19. 7%. The Company opted to take advantage of this rule effective January 1, 2020. not March 31, 2021 Effective November 9, 2020, 8.5% 2021 9% two 7.5% 2021 8% The Company and the Bank may January 1, 2020. Failure to meet statutorily mandated capital guidelines or more restrictive ratios separately established for a financial institution could subject a banking institution to a variety of enforcement remedies available to federal regulatory authorities, including issuance of a capital directive, the termination of deposit insurance by the FDIC, a prohibition on accepting or renewing brokered deposits, limitations on the rates of interest that the institution may The Company’s and Wilson Bank’s Community Bank Leverage Ratio as of March 31, 2021 December 31, 2020 Actual Regulatory Minimum Capital Requirement Community Bank Leverage Ratio Amount Ratio Amount Ratio (dollars in thousands) March 31, 2021 Community Bank Leverage Ratio: Consolidated $ 377,995 11.1 % $ 289,047 8.5 % Wilson Bank 376,682 11.1 288,966 8.5 Actual Regulatory Minimum Capital Requirement Community Bank Leverage Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2020 Community Bank Leverage Ratio: Consolidated $ 368,150 11.2 % $ 279,400 8.5 % Wilson Bank 364,976 11.1 279,486 8.5 Dividend Restrictions The Company and the Bank are subject to dividend restrictions set forth by the State Banking Department and federal banking agencies. Additional restrictions may |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 7. FASB ASC 820, Fair Value Measurements and Disclosures not not Valuation Hierarchy FASB ASC 820 three three • Level 1 • Level 2 • Level 3 A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such assets and liabilities pursuant to the valuation hierarchy. Assets Securities available-for-sale — 1 1 not 2 3 Hedged Loans Impaired loans — may 3 Other real estate owned — 3 Bank Owned Life Insurance — 3 not Mortgage loans held-for-sale 2 Mortgage banking derivatives 2 The following tables present the financial instruments carried at fair value as of March 31, 2021 December 31, 2020 820 Assets and Liabilities Measured at Fair Value on a Recurring Basis (In Thousands) Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) March 31, 2021 Hedged Loans $ 26,494 — 26,494 — Investment securities available-for-sale: U.S. Government sponsored enterprises 124,025 — 124,025 — Mortgage-backed securities 288,662 — 288,662 — Asset-backed securities 40,130 — 40,130 — Corporate bonds 2,544 — 2,544 — State and municipal securities 158,571 — 158,571 — Total investment securities available-for-sale 613,932 — 613,932 — Mortgage loans held for sale 28,635 — 28,635 — Derivatives 2,685 — 2,685 — Bank owned life insurance 35,401 — — 35,401 Total assets $ 707,147 — 671,746 35,401 Derivatives $ - — — — Total liabilities $ - — — — December 31, 2020 Hedged Loans $ 29,417 — 29,417 — Investment securities available-for-sale: U.S. Government sponsored enterprises 125,905 — 125,905 — Mortgage-backed securities 263,790 — 263,790 — Asset-backed securities 36,957 — 36,957 — Corporate bonds 2,600 — 2,600 — State and municipal securities 151,291 — 151,291 — Total investment securities available-for-sale 580,543 — 580,543 — Mortgage loans held for sale 19,474 — 19,474 — Derivatives 714 — 714 — Bank owned life insurance 35,197 — — 35,197 Total assets $ 665,345 — 630,148 35,197 Derivatives $ 208 — 208 — Total liabilities $ 208 — 208 — Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (In Thousands) Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) March 31, 2021 Other real estate owned $ 183 — — 183 Impaired loans, net (¹) 2,584 — — 2,584 Total $ 2,767 — — 2,767 December 31, 2020 Other real estate owned $ — — — — Impaired loans, net (¹) 2,635 — — 2,635 Total $ 2,635 — — 2,635 ( 1 Amount is net of a valuation allowance of at March 31, 2021 and at December 31, 2020 as required by ASC 310, The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which we have utilized Level 3 March 31, 2021 December 31, 2020 Valuation Techniques (2) Significant Unobservable Inputs Weighted Average Impaired loans Appraisal Estimated costs to sell 10% Other real estate owned Appraisal Estimated costs to sell 10% (2) The fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow method if the loan is not collateral dependent. In the case of its investment securities portfolio, the Company monitors the valuation technique utilized by various pricing agencies to ascertain when transfers between levels have been affected. The nature of the remaining assets and liabilities is such that transfers in and out of any level are expected to be rare. For the three March 31, 2021 no 1, 2 3. The table below includes a rollforward of the balance sheet amounts for the three March 31, 2021 2020 3 3 3 3 For the Three Months Ended March 31, 2021 2020 Other Assets Other Liabilities Other Assets Other Liabilities Fair value, January 1 $ 35,197 — $ 31,762 — Total realized gains included in income 204 — 183 — Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at March 31 — — — — Purchases, issuances and settlements, net — — — — Transfers out of Level 3 — — — — Fair value, March 31 $ 35,401 — $ 31,945 — Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at March 31 $ 204 — $ 183 — The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments that are not not March 31, 2021 December 31, 2020 not may Cash and cash equivalents 1. Loans For variable-rate loans that reprice frequently and have no Deposits and Federal Home Loan Bank borrowings Restricted equity securities not Accrued interest receivable/payable 1, 2 3 Off-Balance Sheet Instruments not The following table presents the carrying amounts, estimated fair value and placement in the fair valuation hierarchy of the Company’s financial instruments at March 31, 2021 December 31, 2020 Carrying/ Notional Estimated Quote Market Prices in an Active Market Models with Significant Observable Market Parameters Models with Significant Unobservable Market Parameters (in Thousands) Amount Fair Value (¹) (Level 1) (Level 2) (Level 3) March 31, 2021 Financial assets: Cash and cash equivalents $ 456,529 456,529 456,529 — — Loans, net 2,294,999 2,296,988 — — 2,296,988 Restricted equity securities 5,089 NA NA NA NA Accrued interest receivable 7,933 7,933 1 2,099 5,833 Financial liabilities: Deposits 3,140,826 2,896,171 — — 2,896,171 Federal Home Loan Bank borrowings — — — — — Accrued interest payable 2,236 2,236 — — 2,236 December 31, 2020 Financial assets: Cash and cash equivalents $ 338,856 338,856 338,856 — — Loans, net 2,282,766 2,302,530 — — 2,302,530 Restricted equity securities 5,089 NA NA NA NA Accrued interest receivable 7,516 7,516 1 2,210 5,305 Financial liabilities: Deposits 2,960,595 2,796,339 — — 2,796,339 Federal Home Loan Bank borrowings 3,638 3,755 — — 3,755 Accrued interest payable 3,051 3,051 — — 3,051 ( 1 Estimated fair values are consistent with an exit-price concept. The assumptions used to estimate the fair values are intended to approximate those that a market-participant would realize in a hypothetical orderly transaction. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 8. Accounting Standards Codification (“ASC”) 740, Income Taxes not” March 31, 2021 no not March 31, 2021 As of and for the three March 31, 2021 not The Company and the Bank file consolidated U.S. Federal and State of Tennessee income tax returns. The Company is currently open to audit under the statute of limitations by the State of Tennessee for the years ended December 31, 2017 2020 December 31, 2018 2020. |
Note 9 - Earnings Per Share
Note 9 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 9. The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period, adjusted for stock splits. The computation of diluted earnings per share for the Company begins with the basic earnings per share and includes the effect of common shares contingently issuable from stock options. The following is a summary of components comprising basic and diluted earnings per share (“EPS”) for the three March 31, 2021 2020 Three Months Ended March 31, 2021 2020 (Dollars in Thousands Except Share and Per Share Amounts) Basic EPS Computation: Numerator – Earnings available to common stockholders $ 11,144 $ 9,031 Denominator – Weighted average number of common shares outstanding 11,079,350 10,864,866 Basic earnings per common share $ 1.01 $ 0.83 Diluted EPS Computation: Numerator – Earnings available to common stockholders $ 11,144 $ 9,031 Denominator – Weighted average number of common shares outstanding 11,079,350 10,864,866 Dilutive effect of stock options 29,216 21,590 Weighted average diluted common shares outstanding 11,108,566 10,886,456 Diluted earnings per common share $ 1.00 $ 0.83 |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10. In the normal course of business, the Bank has entered into off-balance sheet financial instruments which include commitments to extend credit (i.e., including unfunded lines of credit) and standby letters of credit. Commitments to extend credit are usually the result of lines of credit granted to existing borrowers under agreements that the total outstanding indebtedness will not may may Standby letters of credit are generally issued on behalf of an applicant (the Bank's customer) to a specifically named beneficiary and are the result of a particular business arrangement that exists between the applicant and the beneficiary. Standby letters of credit have fixed expiration dates and are usually for terms of two third The Bank follows the same credit policies and underwriting practices when making these commitments as it does for on-balance sheet instruments. Each customer’s creditworthiness is evaluated on a case-by-case basis, and the amount of collateral obtained, if any, is based on management’s credit evaluation of the customer. Collateral held varies but may The contractual amounts of these commitments are not not A summary of the Company’s total contractual amount for all off-balance sheet commitments at March 31, 2021 Commitments to extend credit $ 907,144,000 Standby letters of credit $ 86,434,000 The Bank originates residential mortgage loans, sells them to third not fourth 2018, not Each purchaser has specific guidelines and criteria for sellers of loans, and the risk of credit loss with regard to the principal amount of the loans sold is generally transferred to the purchasers upon sale. While the loans are sold without recourse, the purchase agreements require the Bank to make certain representations and warranties regarding the existence and sufficiency of file documentation and the absence of fraud by borrowers or other third To date, repurchase activity pursuant to the terms of these representations and warranties or due to early payoffs or payment defaults has been insignificant and has resulted in insignificant losses to the Company. Based on information currently available, management believes that the Bank does not may Various legal claims also arise from time to time in the normal course of business. In the opinion of management, the resolution of these claims outstanding at March 31, 2021 not |
Note 11 - Pandemic Impact (COVI
Note 11 - Pandemic Impact (COVID-19) | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Effect of COVID-19 Pandemic [Text Block] | Note 11. 19 The outbreak and spread of the novel Coronavirus Disease 2019 19” 19 2021, 19 not 19 may 19 one may 19 As a result of the pandemic, many states and municipalities are facing a strain on resources and a reduction in tax collections. As a result, certain states and municipalities have asked for potential assistance from the Federal government to cover the cost of resource depletion and tax shortfalls. The American Rescue Plan, which was signed into law by President Biden on March 11, 2021, first May. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Nature of Business [Policy Text Block] | Nature of Business |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation 10 not 10 December 31, 2020 These consolidated financial statements include the accounts of the Company and the Bank. Significant intercompany transactions and accounts are eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates 10 December 31, 2020 no 10 December 31, 2020 |
Financing Receivable [Policy Text Block] | Loans — Loans are charged off when management believes that the full collectability of the loan is unlikely. As such, a loan may Loans are placed on nonaccrual status when there is a significant deterioration in the financial condition of the borrower, which often is determined when the principal or interest on the loan is more than 90 not All loans that are placed on nonaccrual are further analyzed to determine if they should be classified as impaired loans. At December 31, 2020 March 31, 2021 not not one may |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses — In assessing the adequacy of the allowance, we also consider the results of our ongoing independent loan review process. We undertake this process both to ascertain whether there are loans in the portfolio whose credit quality has weakened over time and to assist in our overall evaluation of the risk characteristics of the entire loan portfolio. Our loan review process includes the judgment of management, independent loan reviewers, and reviews that may third may |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements ASU 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13 2016 13 ASU 2016 13 January 1, 2020. March 27, 2020, 2016 13, 60 19 December 31, 2020, December 27, 2020, 2016 13, January 1, 2022. January 1, 2022. We currently believe the adoption of ASU 2016 13 January 1, 2020. March 31, 2021, 2016 13 March 31, 2021. Prior to the CARES Act being signed and the Company’s decision to delay the implementation of CECL, the Company was completing its CECL implementation plan with a cross-functional working group, under the direction of the Chief Credit Officer along with our Chief Financial Officer. The working group also included individuals from various functional areas including credit, risk management, accounting and information technology, among others. The Company’s implementation plan included assessment and documentation of processes, internal controls and data sources; model development, documentation and validation; and system configuration, among other things. The Company contracted with a third 2016 13 2016 13 not March 27, 2020 three three 75% 50% 25% not 2016 13 not ASU 2017 04, Intangibles - Goodwill and Other (Topic 350 2017 04 2 2017 04, not 2017 04 January 1, 2020, not ASU 2018 13, "Fair Value Measurement (Topic 820 2018 13 820. no 2018 13 January 1, 2020 not ASU 2020 4, Reference Rate Reform (Topic 848 2020 4 2020 04 not December 31, 2022, December 31, 2022, 2020 4 December 31, 2022. 2020 4 not ASU 2020 08, Codification Improvements to Subtopic 310 20, 2020 08 2020 8 January 1, 2021 not ASU 2021 01, Reference Rate Reform (Topic 848 2021 01 848 2021 01 848 2021 01 December 31, 2022. 2021 01 not Other than those previously discussed, there were no |
Note 2 - Loans and Allowance _2
Note 2 - Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In Thousands) March 31, 2021 December 31, 2020 Mortgage loans on real estate: Residential 1-4 family $ 527,092 $ 535,994 Multifamily 93,318 111,646 Commercial 865,388 837,766 Construction and land development 513,931 488,626 Farmland 12,377 15,429 Second mortgages 8,164 8,433 Equity lines of credit 76,633 78,889 Total mortgage loans on real estate 2,096,903 2,076,783 Commercial loans 170,712 172,811 Agricultural loans 1,019 1,206 Consumer installment loans Personal 62,403 66,193 Credit cards 4,321 4,324 Total consumer installment loans 66,724 70,517 Other loans 9,147 9,283 Total loans before net deferred loan fees 2,344,505 2,330,600 Net deferred loan fees (10,176 ) (9,295 ) Total loans 2,334,329 2,321,305 Less: Allowance for loan losses (39,330 ) (38,539 ) Net loans $ 2,294,999 $ 2,282,766 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (In Thousands) Residential 1-4 Family Multifamily Commercial Real Estate Construction Farmland Second Mortgages Equity Lines of Credit Commercial Agricultural, Installment and Other Total March 31, 2021 Allowance for loan losses: Beginning balance $ 8,098 1,541 16,802 7,936 154 105 997 1,378 1,528 38,539 Provision (197 ) (207 ) 756 526 (30 ) (3 ) (27 ) (80 ) 89 827 Charge-offs — — — (1 ) — — — (3 ) (224 ) (228 ) Recoveries 38 — — 15 — — — — 139 192 Ending balance $ 7,939 1,334 17,558 8,476 124 102 970 1,295 1,532 39,330 Ending balance individually evaluated for impairment $ 558 — 141 — — — — — — 699 Ending balance collectively evaluated for impairment $ 7,381 1,334 17,417 8,476 124 102 970 1,295 1,532 38,631 Loans: Ending balance $ 527,092 93,318 865,388 513,931 12,377 8,164 76,633 170,712 76,890 2,344,505 Ending balance individually evaluated for impairment $ 2,314 — 962 — — — — — — 3,276 Ending balance collectively evaluated for impairment $ 524,778 93,318 864,426 513,931 12,377 8,164 76,633 170,712 76,890 2,341,229 Residential 1-4 Family Multifamily Commercial Real Estate Construction Farmland Second Mortgages Equity Lines of Credit Commercial Agricultural, Installment and Other Total March 31, 2020 Allowance for loan losses: Beginning balance $ 7,144 1,117 11,114 5,997 187 123 889 1,044 1,111 28,726 Provision 198 524 1,330 (816 ) (10 ) 4 (44 ) (46 ) 329 1,469 Charge-offs — — — — — — — — (355 ) (355 ) Recoveries 9 — 300 19 — — — — 113 441 Ending balance $ 7,351 1,641 12,744 5,200 177 127 845 998 1,198 30,281 Ending balance individually evaluated for impairment $ 715 — 220 — — — — — — 935 Ending balance collectively evaluated for impairment $ 6,636 1,641 12,524 5,200 177 127 845 998 1,198 29,346 Loans: Ending balance $ 519,775 151,929 841,521 388,769 18,610 11,254 74,908 95,547 67,374 2,169,687 Ending balance individually evaluated for impairment $ 1,429 — 999 — — — — — — 2,428 Ending balance collectively evaluated for impairment $ 518,346 151,929 840,522 388,769 18,610 11,254 74,908 95,547 67,374 2,167,259 |
Impaired Financing Receivables [Table Text Block] | In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2021 With no related allowance recorded: Residential 1-4 family $ 1,101 1,427 — 1,132 2 Multifamily — — — — — Commercial real estate 311 311 — 311 — Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 1,412 1,738 — 1,443 2 With related allowance recorded: Residential 1-4 family $ 1,217 1,214 558 1,230 15 Multifamily — — — — — Commercial real estate 654 651 141 658 8 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 1,871 1,865 699 1,888 23 Total Residential 1-4 family $ 2,318 2,641 558 2,362 17 Multifamily — — — — — Commercial real estate 965 962 141 969 8 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 3,283 3,603 699 3,331 25 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2020 With no related allowance recorded: Residential 1-4 family $ 1,162 1,507 — 395 26 Multifamily — — — — — Commercial real estate 311 311 — 311 — Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 1,473 1,818 — 706 26 With related allowance recorded: Residential 1-4 family $ 1,242 1,240 594 1,273 66 Multifamily — — — — — Commercial real estate 662 659 148 676 22 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 1,904 1,899 742 1,949 88 Total: Residential 1-4 family $ 2,404 2,747 594 1,668 92 Multifamily — — — — — Commercial real estate 973 970 148 987 22 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 3,377 3,717 742 2,655 114 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | March 31, 2021 December 31, 2020 (In thousands) Performing TDRs $ 2,182 $ 2,147 Nonperforming TDRs 449 529 Total TDRS $ 2,631 $ 2,676 March 31, 2021 March 31, 2020 Number of Contracts Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Number of Contracts Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Residential 1-4 family — $ — $ — — $ — $ — Multifamily — — — — — — Commercial real estate — — — 1 111 132 Construction — — — — — — Farmland — — — — — — Second mortgages — — — — — — Equity lines of credit — — — — — — Commercial — — — — — — Agricultural, installment and other — — — — — — Total — $ — $ — 1 $ 111 $ 132 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In Thousands) Residential 1-4 Family Multifamily Commercial Real Estate Construction Farmland Second Mortgages Equity Lines of Credit Commercial Agricultural, installment and other Total March 31, 2021 Credit Risk Profile by Internally Assigned Rating Pass $ 520,890 93,318 864,802 513,383 12,257 7,886 76,612 170,684 76,696 2,336,528 Special Mention 2,207 — — 548 76 166 11 — 127 3,135 Substandard 3,995 — 586 — 44 112 10 28 67 4,842 Doubtful — — — — — — — — — — Total $ 527,092 93,318 865,388 513,931 12,377 8,164 76,633 170,712 76,890 2,344,505 December 31, 2020 Credit Risk Profile by Internally Assigned Rating Pass $ 529,546 111,646 837,028 488,571 15,301 8,148 78,565 172,779 80,770 2,322,354 Special Mention 2,745 — 149 27 79 169 314 — 156 3,639 Substandard 3,703 — 589 28 49 116 10 32 80 4,607 Doubtful — — — — — — — — — — Total $ 535,994 111,646 837,766 488,626 15,429 8,433 78,889 172,811 81,006 2,330,600 |
Note 3 - Debt and Equity Secu_2
Note 3 - Debt and Equity Securities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Marketable Securities [Table Text Block] | March 31, 2021 Securities Available-For-Sale In Thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Market Value U.S. Government-sponsored enterprises (GSEs) $ 127,112 $ 109 $ 3,196 $ 124,025 Mortgage-backed securities 287,126 4,825 3,289 288,662 Asset-backed securities 39,755 397 22 40,130 Corporate bonds 2,500 44 — 2,544 Obligations of states and political subdivisions 159,570 2,302 3,301 158,571 $ 616,063 $ 7,677 $ 9,808 $ 613,932 December 31, 2020 Securities Available-For-Sale In Thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Market Value U.S. Government-sponsored enterprises (GSEs) $ 125,712 $ 328 $ 135 $ 125,905 Mortgage-backed securities 258,774 5,636 620 263,790 Asset-backed securities 36,394 582 19 36,957 Corporate bonds 2,500 100 — 2,600 Obligations of states and political subdivisions 147,462 4,229 400 151,291 $ 570,842 $ 10,875 $ 1,174 $ 580,543 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-For-Sale In Thousands Amortized Cost Estimated Market Value Due in one year or less $ 1,196 $ 1,196 Due after one year through five years 40,212 40,767 Due after five years through ten years 188,093 184,576 Due after ten years 386,562 387,393 $ 616,063 $ 613,932 |
Schedule of Unrealized Loss on Investments [Table Text Block] | In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total March 31, 2021 Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Available-for-Sale Securities: GSEs $ 107,005 $ 3,196 42 $ — $ — — $ 107,005 $ 3,196 Mortgage-backed securities 135,822 3,268 59 6,569 21 12 142,391 3,289 Asset-backed securities 5,409 22 2 — — — 5,409 22 Obligations of states and political subdivisions 74,576 3,301 75 — — — 74,576 3,301 $ 322,812 $ 9,787 178 $ 6,569 $ 21 12 $ 329,381 $ 9,808 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Available-for-Sale Securities: GSEs $ 47,991 $ 135 18 $ — $ — — $ 47,991 $ 135 Mortgage-backed securities 78,381 573 29 6,776 47 12 85,157 620 Asset-backed securities 4,950 19 3 — — — 4,950 19 Corporate bonds — — — — — — — — Obligations of states and political subdivisions 44,061 394 33 689 6 1 44,750 400 $ 175,383 $ 1,121 83 $ 7,465 $ 53 13 $ 182,848 $ 1,174 |
Note 4 - Derivatives (Tables)
Note 4 - Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Summary of Fair Value Hedge Relationships [Table Text Block] | March 31, 2021 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Interest rate swap agreements - loans Other assets 9.17 0.65 % 1 month LIBOR $ 28,114 1,461 December 31, 2020 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Interest rate swap agreements - loans Other liabilities 9.42 0.65 % 1 month LIBOR $ 29,575 (51 ) |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Line item on the balance sheet March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Loans $ 28,114 29,575 (1,620 ) (158 ) |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | In Thousands March 31, 2021 December 31, 2020 Notional Amount Fair Value Notional Amount Fair Value Included in other assets (liabilities): Interest rate contracts for customers $ 25,707 720 20,981 714 Forward contracts related to mortgage loans held-for-sale 31,000 504 21,250 (157 ) |
Interest Rate Swap [Member] | |
Notes Tables | |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three Months Ended March 31, Gain (loss) on fair value hedging relationship 2021 2020 Interest rate swap agreements - loans: Hedged items $ (1,462 ) — Derivative designated as hedging instruments 1,512 — |
Mortgage Banking Derivatives [Member] | |
Notes Tables | |
Derivative Instruments, Gain (Loss) [Table Text Block] | In Thousands March 31, 2021 March 31, 2020 Forward contracts related to mortgage loans held for sale and interest rate contracts $ 661 (362 ) Interest rate contracts for customers 6 175 |
Note 5 - Equity Incentive Plan
Note 5 - Equity Incentive Plan (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | March 31, 2021 March 31, 2020 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options and SARs outstanding at beginning of period 284,591 $ 43.71 273,039 $ 41.19 Granted 24,999 59.02 — — Exercised 28,801 40.02 7,654 33.82 Forfeited or expired — — 4,300 39.46 Outstanding at end of period 280,789 $ 45.45 261,085 $ 41.43 Options and SARs exercisable at March 31 141,993 $ 41.00 142,692 $ 40.40 |
Note 6 - Regulatory Capital (Ta
Note 6 - Regulatory Capital (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Community Bank Leverage Ratios [Table Text Block] | Actual Regulatory Minimum Capital Requirement Community Bank Leverage Ratio Amount Ratio Amount Ratio (dollars in thousands) March 31, 2021 Community Bank Leverage Ratio: Consolidated $ 377,995 11.1 % $ 289,047 8.5 % Wilson Bank 376,682 11.1 288,966 8.5 Actual Regulatory Minimum Capital Requirement Community Bank Leverage Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2020 Community Bank Leverage Ratio: Consolidated $ 368,150 11.2 % $ 279,400 8.5 % Wilson Bank 364,976 11.1 279,486 8.5 |
Note 7 - Fair Value Measureme_2
Note 7 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets and Liabilities Measured at Fair Value on a Recurring Basis (In Thousands) Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) March 31, 2021 Hedged Loans $ 26,494 — 26,494 — Investment securities available-for-sale: U.S. Government sponsored enterprises 124,025 — 124,025 — Mortgage-backed securities 288,662 — 288,662 — Asset-backed securities 40,130 — 40,130 — Corporate bonds 2,544 — 2,544 — State and municipal securities 158,571 — 158,571 — Total investment securities available-for-sale 613,932 — 613,932 — Mortgage loans held for sale 28,635 — 28,635 — Derivatives 2,685 — 2,685 — Bank owned life insurance 35,401 — — 35,401 Total assets $ 707,147 — 671,746 35,401 Derivatives $ - — — — Total liabilities $ - — — — December 31, 2020 Hedged Loans $ 29,417 — 29,417 — Investment securities available-for-sale: U.S. Government sponsored enterprises 125,905 — 125,905 — Mortgage-backed securities 263,790 — 263,790 — Asset-backed securities 36,957 — 36,957 — Corporate bonds 2,600 — 2,600 — State and municipal securities 151,291 — 151,291 — Total investment securities available-for-sale 580,543 — 580,543 — Mortgage loans held for sale 19,474 — 19,474 — Derivatives 714 — 714 — Bank owned life insurance 35,197 — — 35,197 Total assets $ 665,345 — 630,148 35,197 Derivatives $ 208 — 208 — Total liabilities $ 208 — 208 — |
Fair Value Measurements, Nonrecurring [Table Text Block] | Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (In Thousands) Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) March 31, 2021 Other real estate owned $ 183 — — 183 Impaired loans, net (¹) 2,584 — — 2,584 Total $ 2,767 — — 2,767 December 31, 2020 Other real estate owned $ — — — — Impaired loans, net (¹) 2,635 — — 2,635 Total $ 2,635 — — 2,635 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Valuation Techniques (2) Significant Unobservable Inputs Weighted Average Impaired loans Appraisal Estimated costs to sell 10% Other real estate owned Appraisal Estimated costs to sell 10% (2) The fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow method if the loan is not collateral dependent. |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | For the Three Months Ended March 31, 2021 2020 Other Assets Other Liabilities Other Assets Other Liabilities Fair value, January 1 $ 35,197 — $ 31,762 — Total realized gains included in income 204 — 183 — Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at March 31 — — — — Purchases, issuances and settlements, net — — — — Transfers out of Level 3 — — — — Fair value, March 31 $ 35,401 — $ 31,945 — Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at March 31 $ 204 — $ 183 — |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying/ Notional Estimated Quote Market Prices in an Active Market Models with Significant Observable Market Parameters Models with Significant Unobservable Market Parameters (in Thousands) Amount Fair Value (¹) (Level 1) (Level 2) (Level 3) March 31, 2021 Financial assets: Cash and cash equivalents $ 456,529 456,529 456,529 — — Loans, net 2,294,999 2,296,988 — — 2,296,988 Restricted equity securities 5,089 NA NA NA NA Accrued interest receivable 7,933 7,933 1 2,099 5,833 Financial liabilities: Deposits 3,140,826 2,896,171 — — 2,896,171 Federal Home Loan Bank borrowings — — — — — Accrued interest payable 2,236 2,236 — — 2,236 December 31, 2020 Financial assets: Cash and cash equivalents $ 338,856 338,856 338,856 — — Loans, net 2,282,766 2,302,530 — — 2,302,530 Restricted equity securities 5,089 NA NA NA NA Accrued interest receivable 7,516 7,516 1 2,210 5,305 Financial liabilities: Deposits 2,960,595 2,796,339 — — 2,796,339 Federal Home Loan Bank borrowings 3,638 3,755 — — 3,755 Accrued interest payable 3,051 3,051 — — 3,051 |
Note 9 - Earnings Per Share (Ta
Note 9 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2021 2020 (Dollars in Thousands Except Share and Per Share Amounts) Basic EPS Computation: Numerator – Earnings available to common stockholders $ 11,144 $ 9,031 Denominator – Weighted average number of common shares outstanding 11,079,350 10,864,866 Basic earnings per common share $ 1.01 $ 0.83 Diluted EPS Computation: Numerator – Earnings available to common stockholders $ 11,144 $ 9,031 Denominator – Weighted average number of common shares outstanding 11,079,350 10,864,866 Dilutive effect of stock options 29,216 21,590 Weighted average diluted common shares outstanding 11,108,566 10,886,456 Diluted earnings per common share $ 1.00 $ 0.83 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | Commitments to extend credit $ 907,144,000 Standby letters of credit $ 86,434,000 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) | Mar. 31, 2021USD ($) | Dec. 31, 2020 |
Financing Receivable, Nonaccural, Not Impaired, Number of Positions | 0 | 0 |
Financing Receivable, Threshold for Individually Evaluated for Impairment | $ 500,000 | |
Financing Receivable, Maximum for Measurement Using Allocation Rate | $ 500,000 | |
Minimum [Member] | Pro Forma [Member] | COVID 19 [Member] | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Percentage | 2.00% | |
Minimum [Member] | Accounting Standards Update 2016-13 [Member] | Pro Forma [Member] | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Percentage | 2.00% | |
Maximum [Member] | Pro Forma [Member] | COVID 19 [Member] | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Percentage | 6.00% | |
Maximum [Member] | Accounting Standards Update 2016-13 [Member] | Pro Forma [Member] | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Percentage | 6.00% |
Note 2 - Loans and Allowance _3
Note 2 - Loans and Allowance for Loan Losses (Details Textual) | 3 Months Ended | ||
Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($) | |
Loans and Leases Receivable, Gross, Total | $ 2,344,505,000 | $ 2,169,687,000 | $ 2,330,600,000 |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 1,300,000 | 1,300,000 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 1 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 311,000 | ||
Financing Receivable, Number of Payment Deferrals | 11 | ||
Financing Receivable, Deferred Payments | $ 51,400,000 | ||
Mortgage Loans in Process of Foreclosure, Amount | 578,000 | 301,000 | |
Potential Problem Loans | 8,000,000 | 8,200,000 | |
Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 2,096,903,000 | 2,076,783,000 | |
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 170,712,000 | $ 95,547,000 | 172,811,000 |
Commercial Portfolio Segment [Member] | SBA CARES Act Paycheck Protection Program [Member] | |||
Loans and Leases Receivable, Gross, Total | 67,200,000 | 62,400,000 | |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | $ 66,724,000 | $ 70,517,000 | |
Minimum [Member] | Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Amortization Period (Year) | 15 years | ||
Financing Receivable, Maturity Period (Year) | 5 years | ||
Minimum [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Maturity Period (Year) | 1 year | ||
Maximum [Member] | Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Amortization Period (Year) | 30 years | ||
Financing Receivable, Maturity Period (Year) | 15 years | ||
Maximum [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Maturity Period (Year) | 5 years |
Note 2 - Loans and Allowance _4
Note 2 - Loans and Allowance for Loan Losses - Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Loans, gross | $ 2,344,505 | $ 2,330,600 | $ 2,169,687 | |
Net deferred loan fees | (10,176) | (9,295) | ||
Total loans | 2,334,329 | 2,321,305 | ||
Less: Allowance for loan losses | (39,330) | (38,539) | (30,281) | $ (28,726) |
Net loans | 2,294,999 | 2,282,766 | ||
Real Estate Portfolio Segment [Member] | ||||
Loans, gross | 2,096,903 | 2,076,783 | ||
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||||
Loans, gross | 527,092 | 535,994 | 519,775 | |
Less: Allowance for loan losses | (7,939) | (8,098) | (7,351) | (7,144) |
Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | ||||
Loans, gross | 93,318 | 111,646 | 151,929 | |
Less: Allowance for loan losses | (1,334) | (1,541) | (1,641) | (1,117) |
Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | ||||
Loans, gross | 865,388 | 837,766 | 841,521 | |
Less: Allowance for loan losses | (17,558) | (16,802) | (12,744) | (11,114) |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans, gross | 513,931 | 488,626 | 388,769 | |
Less: Allowance for loan losses | (8,476) | (7,936) | (5,200) | (5,997) |
Real Estate Portfolio Segment [Member] | Farmland [Member] | ||||
Loans, gross | 12,377 | 15,429 | 18,610 | |
Less: Allowance for loan losses | (124) | (154) | (177) | (187) |
Real Estate Portfolio Segment [Member] | Second Mortgages [Member] | ||||
Loans, gross | 8,164 | 8,433 | 11,254 | |
Less: Allowance for loan losses | (102) | (105) | (127) | (123) |
Real Estate Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||||
Loans, gross | 76,633 | 78,889 | 74,908 | |
Less: Allowance for loan losses | (970) | (997) | (845) | (889) |
Commercial Portfolio Segment [Member] | ||||
Loans, gross | 170,712 | 172,811 | 95,547 | |
Less: Allowance for loan losses | (1,295) | (1,378) | $ (998) | $ (1,044) |
Agricultural Portfolio Segment [Member] | ||||
Loans, gross | 1,019 | 1,206 | ||
Consumer Portfolio Segment [Member] | ||||
Loans, gross | 66,724 | 70,517 | ||
Consumer Portfolio Segment [Member] | Personal Loan [Member] | ||||
Loans, gross | 62,403 | 66,193 | ||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||||
Loans, gross | 4,321 | 4,324 | ||
Unallocated Financing Receivables [Member] | ||||
Loans, gross | $ 9,147 | $ 9,283 |
Note 2 - Loans and Allowance _5
Note 2 - Loans and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Beginning balance | $ 38,539 | $ 28,726 | |
Provision | 827 | 1,469 | |
Charge-offs | (228) | (355) | |
Recoveries | 192 | 441 | |
Ending balance | 39,330 | 30,281 | |
Ending balance individually evaluated for impairment | 699 | 935 | |
Ending balance collectively evaluated for impairment | 38,631 | 29,346 | |
Loans and Leases Receivable, Gross, Total | 2,344,505 | 2,169,687 | $ 2,330,600 |
Ending balance individually evaluated for impairment | 3,276 | 2,428 | |
Ending balance collectively evaluated for impairment | 2,341,229 | 2,167,259 | |
Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross, Total | 2,096,903 | 2,076,783 | |
Commercial Portfolio Segment [Member] | |||
Beginning balance | 1,378 | 1,044 | |
Provision | (80) | (46) | |
Charge-offs | (3) | 0 | |
Recoveries | 0 | 0 | |
Ending balance | 1,295 | 998 | |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 1,295 | 998 | |
Loans and Leases Receivable, Gross, Total | 170,712 | 95,547 | 172,811 |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 170,712 | 95,547 | |
Agricultural Installment and Other Portfolio Segment [Member] | |||
Beginning balance | 1,528 | 1,111 | |
Provision | 89 | 329 | |
Charge-offs | (224) | (355) | |
Recoveries | 139 | 113 | |
Ending balance | 1,532 | 1,198 | |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 1,532 | 1,198 | |
Loans and Leases Receivable, Gross, Total | 76,890 | 67,374 | 81,006 |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 76,890 | 67,374 | |
Residential 1 to 4 Family [Member] | Real Estate Portfolio Segment [Member] | |||
Beginning balance | 8,098 | 7,144 | |
Provision | (197) | 198 | |
Charge-offs | 0 | 0 | |
Recoveries | 38 | 9 | |
Ending balance | 7,939 | 7,351 | |
Ending balance individually evaluated for impairment | 558 | 715 | |
Ending balance collectively evaluated for impairment | 7,381 | 6,636 | |
Loans and Leases Receivable, Gross, Total | 527,092 | 519,775 | 535,994 |
Ending balance individually evaluated for impairment | 2,314 | 1,429 | |
Ending balance collectively evaluated for impairment | 524,778 | 518,346 | |
Multifamily Real Estate [Member] | Real Estate Portfolio Segment [Member] | |||
Beginning balance | 1,541 | 1,117 | |
Provision | (207) | 524 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Ending balance | 1,334 | 1,641 | |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 1,334 | 1,641 | |
Loans and Leases Receivable, Gross, Total | 93,318 | 151,929 | 111,646 |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 93,318 | 151,929 | |
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member] | |||
Beginning balance | 16,802 | 11,114 | |
Provision | 756 | 1,330 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 300 | |
Ending balance | 17,558 | 12,744 | |
Ending balance individually evaluated for impairment | 141 | 220 | |
Ending balance collectively evaluated for impairment | 17,417 | 12,524 | |
Loans and Leases Receivable, Gross, Total | 865,388 | 841,521 | 837,766 |
Ending balance individually evaluated for impairment | 962 | 999 | |
Ending balance collectively evaluated for impairment | 864,426 | 840,522 | |
Construction Loans [Member] | Real Estate Portfolio Segment [Member] | |||
Beginning balance | 7,936 | 5,997 | |
Provision | 526 | (816) | |
Charge-offs | (1) | 0 | |
Recoveries | 15 | 19 | |
Ending balance | 8,476 | 5,200 | |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 8,476 | 5,200 | |
Loans and Leases Receivable, Gross, Total | 513,931 | 388,769 | 488,626 |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 513,931 | 388,769 | |
Farmland [Member] | Real Estate Portfolio Segment [Member] | |||
Beginning balance | 154 | 187 | |
Provision | (30) | (10) | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Ending balance | 124 | 177 | |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 124 | 177 | |
Loans and Leases Receivable, Gross, Total | 12,377 | 18,610 | 15,429 |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 12,377 | 18,610 | |
Second Mortgages [Member] | Real Estate Portfolio Segment [Member] | |||
Beginning balance | 105 | 123 | |
Provision | (3) | 4 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Ending balance | 102 | 127 | |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 102 | 127 | |
Loans and Leases Receivable, Gross, Total | 8,164 | 11,254 | 8,433 |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 8,164 | 11,254 | |
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member] | |||
Beginning balance | 997 | 889 | |
Provision | (27) | (44) | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Ending balance | 970 | 845 | |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 970 | 845 | |
Loans and Leases Receivable, Gross, Total | 76,633 | 74,908 | $ 78,889 |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | $ 76,633 | $ 74,908 |
Note 2 - Loans and Allowance _6
Note 2 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Recorded Investment, with no related allowance | $ 1,412,000 | $ 1,473,000 |
Unpaid Principal Balance, with no related allowance | 1,738,000 | 1,818,000 |
Average Recorded Investment, with no related allowance | 1,443,000 | 706,000 |
Interest Income Recognized, with no related allowance | 2,000 | 26,000 |
Recorded Investment, with related allowance | 1,871,000 | 1,904,000 |
Unpaid Principal Balance, with related allowance | 1,865,000 | 1,899,000 |
Related Allowance | 699,000 | 742,000 |
Average Recorded Investment, with related allowance | 1,888,000 | 1,949,000 |
Interest Income Recognized, with related allowance | 23,000 | 88,000 |
Recorded Investment | 3,283,000 | 3,377,000 |
Unpaid Principal Balance | 3,603,000 | 3,717,000 |
Average Recorded Investment | 3,331,000 | 2,655,000 |
Interest Income Recognized | 25,000 | 114,000 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
Recorded Investment, with no related allowance | 1,101,000 | 1,162,000 |
Unpaid Principal Balance, with no related allowance | 1,427,000 | 1,507,000 |
Average Recorded Investment, with no related allowance | 1,132,000 | 395,000 |
Interest Income Recognized, with no related allowance | 2,000 | 26,000 |
Recorded Investment, with related allowance | 1,217,000 | 1,242,000 |
Unpaid Principal Balance, with related allowance | 1,214,000 | 1,240,000 |
Related Allowance | 558,000 | 594,000 |
Average Recorded Investment, with related allowance | 1,230,000 | 1,273,000 |
Interest Income Recognized, with related allowance | 15,000 | 66,000 |
Recorded Investment | 2,318,000 | 2,404,000 |
Unpaid Principal Balance | 2,641,000 | 2,747,000 |
Average Recorded Investment | 2,362,000 | 1,668,000 |
Interest Income Recognized | 17,000 | 92,000 |
Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | ||
Recorded Investment, with no related allowance | 0 | 0 |
Unpaid Principal Balance, with no related allowance | 0 | 0 |
Average Recorded Investment, with no related allowance | 0 | 0 |
Interest Income Recognized, with no related allowance | 0 | 0 |
Recorded Investment, with related allowance | 0 | 0 |
Unpaid Principal Balance, with related allowance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with related allowance | 0 | 0 |
Interest Income Recognized, with related allowance | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | ||
Recorded Investment, with no related allowance | 311,000 | 311,000 |
Unpaid Principal Balance, with no related allowance | 311,000 | 311,000 |
Average Recorded Investment, with no related allowance | 311,000 | 311,000 |
Interest Income Recognized, with no related allowance | 0 | 0 |
Recorded Investment, with related allowance | 654,000 | 662,000 |
Unpaid Principal Balance, with related allowance | 651,000 | 659,000 |
Related Allowance | 141,000 | 148,000 |
Average Recorded Investment, with related allowance | 658,000 | 676,000 |
Interest Income Recognized, with related allowance | 8,000 | 22,000 |
Recorded Investment | 965,000 | 973,000 |
Unpaid Principal Balance | 962,000 | 970,000 |
Average Recorded Investment | 969,000 | 987,000 |
Interest Income Recognized | 8,000 | 22,000 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Recorded Investment, with no related allowance | 0 | 0 |
Unpaid Principal Balance, with no related allowance | 0 | 0 |
Average Recorded Investment, with no related allowance | 0 | 0 |
Interest Income Recognized, with no related allowance | 0 | 0 |
Recorded Investment, with related allowance | 0 | 0 |
Unpaid Principal Balance, with related allowance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with related allowance | 0 | 0 |
Interest Income Recognized, with related allowance | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Recorded Investment, with no related allowance | 0 | 0 |
Unpaid Principal Balance, with no related allowance | 0 | 0 |
Average Recorded Investment, with no related allowance | 0 | |
Interest Income Recognized, with no related allowance | 0 | 0 |
Recorded Investment, with related allowance | 0 | 0 |
Unpaid Principal Balance, with related allowance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with related allowance | 0 | 0 |
Interest Income Recognized, with related allowance | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Real Estate Portfolio Segment [Member] | Second Mortgages [Member] | ||
Recorded Investment, with no related allowance | 0 | 0 |
Unpaid Principal Balance, with no related allowance | 0 | 0 |
Average Recorded Investment, with no related allowance | 0 | 0 |
Interest Income Recognized, with no related allowance | 0 | 0 |
Recorded Investment, with related allowance | 0 | 0 |
Unpaid Principal Balance, with related allowance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with related allowance | 0 | 0 |
Interest Income Recognized, with related allowance | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||
Recorded Investment, with no related allowance | 0 | 0 |
Unpaid Principal Balance, with no related allowance | 0 | 0 |
Average Recorded Investment, with no related allowance | 0 | 0 |
Interest Income Recognized, with no related allowance | 0 | 0 |
Recorded Investment, with related allowance | 0 | 0 |
Unpaid Principal Balance, with related allowance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with related allowance | 0 | 0 |
Interest Income Recognized, with related allowance | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Recorded Investment, with no related allowance | 0 | 0 |
Unpaid Principal Balance, with no related allowance | 0 | 0 |
Average Recorded Investment, with no related allowance | 0 | 0 |
Interest Income Recognized, with no related allowance | 0 | 0 |
Recorded Investment, with related allowance | 0 | 0 |
Unpaid Principal Balance, with related allowance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with related allowance | 0 | 0 |
Interest Income Recognized, with related allowance | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Agricultural Installment and Other Portfolio Segment [Member] | ||
Recorded Investment, with no related allowance | 0 | 0 |
Unpaid Principal Balance, with no related allowance | 0 | 0 |
Average Recorded Investment, with no related allowance | 0 | 0 |
Interest Income Recognized, with no related allowance | 0 | 0 |
Recorded Investment, with related allowance | 0 | 0 |
Unpaid Principal Balance, with related allowance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment, with related allowance | 0 | 0 |
Interest Income Recognized, with related allowance | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | $ 0 | $ 0 |
Note 2 - Loans and Allowance _7
Note 2 - Loans and Allowance for Loan Losses - Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($) | |
Total TDRS | $ 2,631 | $ 2,676 | |
Number of Contracts | 0 | 1 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 111 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 132 | |
Commercial Portfolio Segment [Member] | |||
Number of Contracts | 0 | 0 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | |
Agricultural Installment and Other Portfolio Segment [Member] | |||
Number of Contracts | 0 | 0 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | |
Residential 1 to 4 Family [Member] | Real Estate Portfolio Segment [Member] | |||
Number of Contracts | 0 | 0 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | |
Multifamily Real Estate [Member] | Real Estate Portfolio Segment [Member] | |||
Number of Contracts | 0 | 0 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | |
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member] | |||
Number of Contracts | 0 | 1 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 111 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 132 | |
Construction Loans [Member] | Real Estate Portfolio Segment [Member] | |||
Number of Contracts | 0 | 0 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | |
Farmland [Member] | Real Estate Portfolio Segment [Member] | |||
Number of Contracts | 0 | 0 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | |
Second Mortgages [Member] | Real Estate Portfolio Segment [Member] | |||
Number of Contracts | 0 | 0 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | |
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member] | |||
Number of Contracts | 0 | 0 | |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | 0 | $ 0 | |
Performing Financial Instruments [Member] | |||
Total TDRS | 2,182 | 2,147 | |
Nonperforming Financial Instruments [Member] | |||
Total TDRS | $ 449 | $ 529 |
Note 2 - Loans and Allowance _8
Note 2 - Loans and Allowance for Loan Losses - Loan Portfolio by Risk Rating (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Loans, gross | $ 2,344,505 | $ 2,330,600 | $ 2,169,687 |
Pass [Member] | |||
Loans, gross | 2,336,528 | 2,322,354 | |
Special Mention [Member] | |||
Loans, gross | 3,135 | 3,639 | |
Substandard [Member] | |||
Loans, gross | 4,842 | 4,607 | |
Doubtful [Member] | |||
Loans, gross | 0 | 0 | |
Real Estate Portfolio Segment [Member] | |||
Loans, gross | 2,096,903 | 2,076,783 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | |||
Loans, gross | 527,092 | 535,994 | 519,775 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Pass [Member] | |||
Loans, gross | 520,890 | 529,546 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Special Mention [Member] | |||
Loans, gross | 2,207 | 2,745 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Substandard [Member] | |||
Loans, gross | 3,995 | 3,703 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Doubtful [Member] | |||
Loans, gross | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | |||
Loans, gross | 93,318 | 111,646 | 151,929 |
Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Pass [Member] | |||
Loans, gross | 93,318 | 111,646 | |
Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Special Mention [Member] | |||
Loans, gross | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Substandard [Member] | |||
Loans, gross | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Doubtful [Member] | |||
Loans, gross | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | |||
Loans, gross | 865,388 | 837,766 | 841,521 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Pass [Member] | |||
Loans, gross | 864,802 | 837,028 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Special Mention [Member] | |||
Loans, gross | 0 | 149 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Substandard [Member] | |||
Loans, gross | 586 | 589 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | Doubtful [Member] | |||
Loans, gross | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans, gross | 513,931 | 488,626 | 388,769 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | |||
Loans, gross | 513,383 | 488,571 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | |||
Loans, gross | 548 | 27 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | |||
Loans, gross | 0 | 28 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | |||
Loans, gross | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans, gross | 12,377 | 15,429 | 18,610 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | |||
Loans, gross | 12,257 | 15,301 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | |||
Loans, gross | 76 | 79 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | |||
Loans, gross | 44 | 49 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Doubtful [Member] | |||
Loans, gross | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Second Mortgages [Member] | |||
Loans, gross | 8,164 | 8,433 | 11,254 |
Real Estate Portfolio Segment [Member] | Second Mortgages [Member] | Pass [Member] | |||
Loans, gross | 7,886 | 8,148 | |
Real Estate Portfolio Segment [Member] | Second Mortgages [Member] | Special Mention [Member] | |||
Loans, gross | 166 | 169 | |
Real Estate Portfolio Segment [Member] | Second Mortgages [Member] | Substandard [Member] | |||
Loans, gross | 112 | 116 | |
Real Estate Portfolio Segment [Member] | Second Mortgages [Member] | Doubtful [Member] | |||
Loans, gross | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||
Loans, gross | 76,633 | 78,889 | 74,908 |
Real Estate Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Pass [Member] | |||
Loans, gross | 76,612 | 78,565 | |
Real Estate Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Special Mention [Member] | |||
Loans, gross | 11 | 314 | |
Real Estate Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Substandard [Member] | |||
Loans, gross | 10 | 10 | |
Real Estate Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Doubtful [Member] | |||
Loans, gross | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Loans, gross | 170,712 | 172,811 | 95,547 |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Loans, gross | 170,684 | 172,779 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Loans, gross | 0 | 0 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Loans, gross | 28 | 32 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||
Loans, gross | 0 | 0 | |
Agricultural Installment and Other Portfolio Segment [Member] | |||
Loans, gross | 76,890 | 81,006 | $ 67,374 |
Agricultural Installment and Other Portfolio Segment [Member] | Pass [Member] | |||
Loans, gross | 76,696 | 80,770 | |
Agricultural Installment and Other Portfolio Segment [Member] | Special Mention [Member] | |||
Loans, gross | 127 | 156 | |
Agricultural Installment and Other Portfolio Segment [Member] | Substandard [Member] | |||
Loans, gross | 67 | 80 | |
Agricultural Installment and Other Portfolio Segment [Member] | Doubtful [Member] | |||
Loans, gross | $ 0 | $ 0 |
Note 3 - Debt and Equity Secu_3
Note 3 - Debt and Equity Securities (Details Textual) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 616,063,000 | $ 570,842,000 |
Debt Securities, Available-for-sale, Total | 613,932,000 | 580,543,000 |
Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 96,315,000 | 88,472,000 |
Debt Securities, Available-for-sale, Total | $ 95,688,000 | $ 89,116,000 |
Note 3 - Debt and Equity Secu_4
Note 3 - Debt and Equity Securities - Debt and Equity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Loans, allowance for loan losses | $ 616,063 | $ 570,842 |
Securities, Available-for-sale, Gross Unrealized Gains | 7,677 | 10,875 |
Securities, Available-for-sale, Gross Unrealized Losses | 9,808 | 1,174 |
Debt Securities, Available-for-sale, Total | 613,932 | 580,543 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Loans, allowance for loan losses | 127,112 | 125,712 |
Securities, Available-for-sale, Gross Unrealized Gains | 109 | 328 |
Securities, Available-for-sale, Gross Unrealized Losses | 3,196 | 135 |
Debt Securities, Available-for-sale, Total | 124,025 | 125,905 |
Collateralized Mortgage Backed Securities [Member] | ||
Loans, allowance for loan losses | 287,126 | 258,774 |
Securities, Available-for-sale, Gross Unrealized Gains | 4,825 | 5,636 |
Securities, Available-for-sale, Gross Unrealized Losses | 3,289 | 620 |
Debt Securities, Available-for-sale, Total | 288,662 | 263,790 |
Asset-backed Securities [Member] | ||
Loans, allowance for loan losses | 39,755 | 36,394 |
Securities, Available-for-sale, Gross Unrealized Gains | 397 | 582 |
Securities, Available-for-sale, Gross Unrealized Losses | 22 | 19 |
Debt Securities, Available-for-sale, Total | 40,130 | 36,957 |
Corporate Debt Securities [Member] | ||
Loans, allowance for loan losses | 2,500 | 2,500 |
Securities, Available-for-sale, Gross Unrealized Gains | 44 | 100 |
Securities, Available-for-sale, Gross Unrealized Losses | 0 | 0 |
Debt Securities, Available-for-sale, Total | 2,544 | 2,600 |
US States and Political Subdivisions Debt Securities [Member] | ||
Loans, allowance for loan losses | 159,570 | 147,462 |
Securities, Available-for-sale, Gross Unrealized Gains | 2,302 | 4,229 |
Securities, Available-for-sale, Gross Unrealized Losses | 3,301 | 400 |
Debt Securities, Available-for-sale, Total | $ 158,571 | $ 151,291 |
Note 3 - Debt and Equity Secu_5
Note 3 - Debt and Equity Securities - Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Due in one year or less, securities available-for-sale, amortized cost | $ 1,196 | |
Due in one year or less, securities available-for-sale, estimated market value | 1,196 | |
Due after one year through five years, securities available-for-sale, amortized cost | 40,212 | |
Due after one year through five years, securities available-for-sale, estimated market value | 40,767 | |
Due after five years through ten years, securities available-for-sale, amortized cost | 188,093 | |
Due after five years through ten years, securities available-for-sale, estimated market value | 184,576 | |
Due after ten years, securities available-for-sale, amortized cost | 386,562 | |
Due after ten years, securities available-for-sale, estimated market value | 387,393 | |
Amortized Cost | 616,063 | $ 570,842 |
Estimated market value | $ 613,932 |
Note 3 - Debt and Equity Secu_6
Note 3 - Debt and Equity Securities - Gross Unrealized Losses and Fair Value of Company's Investments (Details) $ in Thousands | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($)item |
Available-for-Sale Securities, Less than 12 Months, Fair Value | $ 322,812 | $ 175,383 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 9,787 | $ 1,121 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 178 | 83 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 6,569 | $ 7,465 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 21 | $ 53 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 12 | 13 |
Available-for-Sale Securities, Total, Fair Value | $ 329,381 | $ 182,848 |
Available-for-Sale Securities, Total, Unrealized Losses | 9,808 | 1,174 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 107,005 | 47,991 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 3,196 | $ 135 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 42 | 18 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 0 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 0 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 0 | 0 |
Available-for-Sale Securities, Total, Fair Value | $ 107,005 | $ 47,991 |
Available-for-Sale Securities, Total, Unrealized Losses | 3,196 | 135 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 135,822 | 78,381 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 3,268 | $ 573 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 59 | 29 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 6,569 | $ 6,776 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 21 | $ 47 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 12 | 12 |
Available-for-Sale Securities, Total, Fair Value | $ 142,391 | $ 85,157 |
Available-for-Sale Securities, Total, Unrealized Losses | 3,289 | 620 |
Asset-backed Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 5,409 | 4,950 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 22 | $ 19 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 2 | 3 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 0 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 0 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 0 | 0 |
Available-for-Sale Securities, Total, Fair Value | $ 5,409 | $ 4,950 |
Available-for-Sale Securities, Total, Unrealized Losses | 22 | 19 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 74,576 | 44,061 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 3,301 | $ 394 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 75 | 33 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 0 | $ 689 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 0 | $ 6 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 0 | 1 |
Available-for-Sale Securities, Total, Fair Value | $ 74,576 | $ 44,750 |
Available-for-Sale Securities, Total, Unrealized Losses | $ 3,301 | 400 |
Corporate Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 0 | |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 0 | |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | item | 0 | |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 0 | |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 0 | |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | item | 0 | |
Available-for-Sale Securities, Total, Fair Value | $ 0 | |
Available-for-Sale Securities, Total, Unrealized Losses | $ 0 |
Note 4 - Derivatives (Details T
Note 4 - Derivatives (Details Textual) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Interest Rate Lock Commitments [Member] | |||
Derivative, Notional Amount | $ 25,707,000 | $ 20,981,000 | |
Derivative Asset, Fair Value, Gross Asset, Total | 720,000 | 714,000 | |
Forward Contracts [Member] | |||
Derivative, Notional Amount | 31,000,000 | 21,250,000 | |
Derivative Asset, Fair Value, Gross Asset, Total | $ 504,000 | ||
Derivative Liability, Fair Value, Gross Liability, Total | $ 157,000 | ||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | |||
Derivative, Notional Amount | $ 30,000,000 |
Note 4 - Derivatives - Summary
Note 4 - Derivatives - Summary of Fair Value Hedge Relationships (Details) - Interest Rate Swap [Member] - Fair Value Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Weighted Average Remaining Maturity (Year) | 9 years 2 months 1 day | 9 years 5 months 1 day |
Notional Amount | $ 28,114 | |
Notional Amount | $ 29,575 | |
Other Assets [Member] | ||
Estimated Fair Value | $ 1,461 | |
Other Liabilities [Member] | ||
Interest rate swap agreements - loans | $ (51) | |
London Interbank Offered Rate (LIBOR) Swap Rate [Member] | ||
Weighted Average Pay Rate | 0.65% | 0.65% |
Note 4 - Derivatives - Income S
Note 4 - Derivatives - Income Statement Effects of Fair Value Hedge Relationships (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Hedged items | $ (1,462) | $ 0 |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||
Derivative designated as hedging instruments | $ 1,512 | $ 0 |
Note 4 - Derivatives - Amounts
Note 4 - Derivatives - Amounts Recorded on the Balance Sheet Related to Cumulative Basis Adjustments for Fair Value Hedges (Details) - Fair Value Hedging [Member] - Designated as Hedging Instrument [Member] - Interest Rate Swap [Member] - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Carrying Amount of the Hedged Assets | $ 28,114 | $ 29,575 |
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets | $ (1,620) | $ (158) |
Note 4 - Derivatives - Net Gain
Note 4 - Derivatives - Net Gains (Losses) Relating to Free-standing Derivative Instruments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Forward Contracts [Member] | ||
Net gains (losses) | $ 661 | $ (362) |
Interest Rate Contract [Member] | ||
Net gains (losses) | $ 6 | $ 175 |
Note 4 - Derivatives - Amount a
Note 4 - Derivatives - Amount and Fair Value of Mortgage Banking Derivatives (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Interest Rate Contract [Member] | ||
Derivative, amount | $ 25,707,000 | $ 20,981,000 |
Derivative, fair value | 720,000 | 714,000 |
Forward Contracts [Member] | ||
Derivative, amount | 31,000,000 | 21,250,000 |
Derivative, fair value | $ 504,000 | |
Derivative, fair value | $ (157,000) |
Note 5 - Equity Incentive Pla_2
Note 5 - Equity Incentive Plan (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Jun. 30, 2016 | Apr. 30, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 162,833 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 46.22 | ||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 1,725,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 2 months 1 day | ||
Stock Appreciation Rights (SARs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares) | 117,956 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ 44.38 | ||
The 2009 Stock Option Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 100,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 10,989 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 34.34 | ||
The 2016 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 750,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 151,844 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 47.08 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 405,272 | ||
The 2016 Equity Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares) | 117,956 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Instruments Other Than Options, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 44.38 |
Note 5 - Equity Incentive Pla_3
Note 5 - Equity Incentive Plan - Summary of Stock Option Activity (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Issuance of shares of common stock, shares (in shares) | 7,151 | 7,202 |
Outstanding, shares (in shares) | 162,833 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 46.22 | |
Stock Options and Stock Appreciation Rights [Member] | ||
Outstanding, shares (in shares) | 284,591 | 273,039 |
Outstanding, weighted average exercise price (in dollars per share) | $ 43.71 | $ 41.19 |
Shares Granted (in shares) | 24,999 | 0 |
Granted, Weighted Average Exercise Price (in dollars per share) | $ 59.02 | $ 0 |
Issuance of shares of common stock, shares (in shares) | 28,801 | 7,654 |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ 40.02 | $ 33.82 |
Shares Forfeited or expired (in shares) | 0 | 4,300 |
Forfeited or expired, Weighted Average Exercise Price (in dollars per share) | $ 0 | $ 39.46 |
Outstanding, shares (in shares) | 280,789 | 261,085 |
Outstanding, weighted average exercise price (in dollars per share) | $ 45.45 | $ 41.43 |
Options and SARs exercisable, shares (in shares) | 141,993 | 142,692 |
Options and SARs exercisable, weighted average exercise price (in dollars per share) | $ 41 | $ 40.40 |
Note 6 - Regulatory Capital - S
Note 6 - Regulatory Capital - Summary of Community Bank Leverage Ratio Information (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Community Bank Leverage Ratio, Amount, Actual | $ 377,995 | $ 368,150 |
Community Bank Leverage Ratio, Ratio, Actual | 11.10% | 11.20% |
Community Bank Leverage Ratio, Regulatory Minimum Capital Requirement, Amount | $ 289,047 | $ 279,400 |
Community Bank Leverage Ratio, Regulatory Minimum Capital Requirement, Ratio | 8.50% | 8.50% |
Wilson Bank [Member] | ||
Community Bank Leverage Ratio, Amount, Actual | $ 376,682 | $ 364,976 |
Community Bank Leverage Ratio, Ratio, Actual | 11.10% | 11.10% |
Community Bank Leverage Ratio, Regulatory Minimum Capital Requirement, Amount | $ 288,966 | $ 279,486 |
Community Bank Leverage Ratio, Regulatory Minimum Capital Requirement, Ratio | 8.50% | 8.50% |
Note 7 - Fair Value Measureme_3
Note 7 - Fair Value Measurements (Details Textual) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Impaired Financing Receivable, Related Allowance | $ 699,000 | $ 742,000 |
Note 7 - Fair Value Measureme_4
Note 7 - Fair Value Measurements - Fair Value of Financial Instruments Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | $ 613,932 | $ 580,543 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 124,025 | 125,905 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 288,662 | 263,790 |
Asset-backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 40,130 | 36,957 |
Corporate Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 2,544 | 2,600 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 158,571 | 151,291 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | ||
Hedged Loans | 26,494 | 29,417 |
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 613,932 | 580,543 |
Mortgage loans held for sale | 28,635 | 19,474 |
Derivative, fair value | 2,685 | 714 |
Bank owned life insurance | 35,401 | 35,197 |
Total assets | 707,147 | 665,345 |
Derivative Liability, Fair Value, Gross Liability, Total | 0 | 208 |
Total liabilities | 0 | 208 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 124,025 | 125,905 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 288,662 | 263,790 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | Asset-backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 40,130 | 36,957 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 2,544 | 2,600 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 158,571 | 151,291 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Hedged Loans | 0 | 0 |
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Derivative, fair value | 0 | 0 |
Bank owned life insurance | 0 | 0 |
Total assets | 0 | |
Derivative Liability, Fair Value, Gross Liability, Total | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Hedged Loans | 26,494 | 29,417 |
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 613,932 | 580,543 |
Mortgage loans held for sale | 28,635 | 19,474 |
Derivative, fair value | 2,685 | 714 |
Bank owned life insurance | 0 | 0 |
Total assets | 671,746 | 630,148 |
Derivative Liability, Fair Value, Gross Liability, Total | 0 | 208 |
Total liabilities | 0 | 208 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 124,025 | 125,905 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 288,662 | 263,790 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 40,130 | 36,957 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 2,544 | 2,600 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 158,571 | 151,291 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Hedged Loans | 0 | 0 |
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Derivative, fair value | 0 | 0 |
Bank owned life insurance | 35,401 | 35,197 |
Total assets | 35,401 | 35,197 |
Derivative Liability, Fair Value, Gross Liability, Total | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale, at market (amortized cost $616,063 and $570,842, respectively) | $ 0 | $ 0 |
Note 7 - Fair Value Measureme_5
Note 7 - Fair Value Measurements - Fair Value of Financial Instruments Measured on a Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | |
Reported Value Measurement [Member] | |||
Other real estate owned | $ 183 | $ 0 | |
Impaired loans, net | [1] | 2,584 | 2,635 |
Total assets | 2,767 | 2,635 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Other real estate owned | 0 | 0 | |
Impaired loans, net | [1] | 0 | 0 |
Total assets | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Other real estate owned | 0 | 0 | |
Impaired loans, net | [1] | 0 | 0 |
Total assets | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Other real estate owned | 183 | 0 | |
Impaired loans, net | [1] | 2,584 | 2,635 |
Total assets | $ 2,767 | $ 2,635 | |
[1] | Amount is net of a valuation allowance of $699,000 at March 31, 2021 and $742,000 at December 31, 2020 as required by ASC 310, "Receivables." |
Note 7 - Fair Value Measureme_6
Note 7 - Fair Value Measurements - Additional Information on Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - Fair Value, Inputs, Level 3 [Member] - Measurement Input, Discount Rate [Member] - Weighted Average [Member] | Mar. 31, 2021 |
Impaired loans | 0.10 |
Other real estate owned | 0.10 |
Note 7 - Fair Value Measureme_7
Note 7 - Fair Value Measurements - Changes in Fair Value Due to Observable Factors (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Fair value, other assets | $ 35,197 | $ 31,762 |
Fair value, other liabilities | 0 | 0 |
Total realized gains included in income, other assets | 204 | 183 |
Total realized gains included in income, other liabilities | 0 | 0 |
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held, other assets | 0 | 0 |
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held, other liabilities | 0 | 0 |
Purchases, issuances and settlements, net, other assets | 0 | 0 |
Purchases, issuances and settlements, net, other liabilities | 0 | 0 |
Transfers out of Level 3, other assets | 0 | 0 |
Transfers out of Level 3, other liabilities | 0 | 0 |
Fair value, other assets | 35,401 | 31,945 |
Fair value, other liabilities | 0 | 0 |
Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet, other assets | 204 | 183 |
Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet, other liabilities | $ 0 | $ 0 |
Note 7 - Fair Value Measureme_8
Note 7 - Fair Value Measurements - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | |
Restricted equity securities | $ 5,089 | $ 5,089 | |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 456,529 | 338,856 | |
Loans, net | 2,294,999 | 2,282,766 | |
Restricted equity securities | 5,089 | 5,089 | |
Accrued interest receivable | 7,933 | 7,516 | |
Deposits | 3,140,826 | 2,960,595 | |
Federal Home Loan Bank borrowings | 0 | 3,638 | |
Accrued interest payable | 2,236 | 3,051 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | [1] | 456,529 | 338,856 |
Loans, net | [1] | 2,296,988 | 2,302,530 |
Accrued interest receivable | [1] | 7,933 | 7,516 |
Deposits | [1] | 2,896,171 | 2,796,339 |
Federal Home Loan Bank borrowings | [1] | 0 | 3,755 |
Accrued interest payable | [1] | 2,236 | 3,051 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 456,529 | 338,856 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 1 | 1 | |
Deposits | 0 | 0 | |
Federal Home Loan Bank borrowings | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 2,099 | 2,210 | |
Deposits | 0 | 0 | |
Federal Home Loan Bank borrowings | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Loans, net | 2,296,988 | 2,302,530 | |
Accrued interest receivable | 5,833 | 5,305 | |
Deposits | 2,896,171 | 2,796,339 | |
Federal Home Loan Bank borrowings | 0 | 3,755 | |
Accrued interest payable | $ 2,236 | $ 3,051 | |
[1] | Estimated fair values are consistent with an exit-price concept. The assumptions used to estimate the fair values are intended to approximate those that a market-participant would realize in a hypothetical orderly transaction. |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Unrecognized Tax Benefits, Ending Balance | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 |
State and Local Jurisdiction [Member] | State of Tennessee [Member] | |
Open Tax Year | 2017 2018 2019 2020 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |
Open Tax Year | 2018 2019 2020 |
Note 9 - Earnings Per Share - B
Note 9 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Consolidated net income | $ 11,144 | $ 9,031 |
Denominator – Weighted average number of common shares outstanding (in shares) | 11,079,350 | 10,864,866 |
Basic earnings per common share (in dollars per share) | $ 1.01 | $ 0.83 |
Numerator – Earnings available to common stockholders | $ 11,144 | $ 9,031 |
Dilutive effect of stock options (in shares) | 29,216 | 21,590 |
Weighted average diluted common shares outstanding (in shares) | 11,108,566 | 10,886,456 |
Diluted earnings per common share (in dollars per share) | $ 1 | $ 0.83 |
Note 10 - Commitments and Con_3
Note 10 - Commitments and Contingent Liabilities (Details Textual) | 3 Months Ended |
Mar. 31, 2021 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | |
Financing Receivable, Percentage of Loans Delivered to Investors | 100.00% |
Standby Letters of Credit [Member] | |
Debt Instrument, Term (Year) | 2 years |
Note 10 - Commitments and Con_4
Note 10 - Commitments and Contingent Liabilities - Total Contractual Amount for All Off-balance Sheet Commitments (Details) | Mar. 31, 2021USD ($) |
Standby Letters of Credit [Member] | |
Commitments | $ 86,434,000 |
Commitments to Extend Credit [Member] | |
Commitments | $ 907,144,000 |