Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 09, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000885275 | |
Entity Registrant Name | WILSON BANK HOLDING CO | |
Amendment Flag | true | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q/A | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
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 | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 11,671,419 | |
Amendment Description | Wilson Bank Holding Company, a Tennessee corporation (the “Company”) is filing this Amendment No. 1 on Form 10-Q/A (the “Amendment”) to amend its original Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023 (the “Original Form 10-Q”), originally filed with the Securities and Exchange Commission (the “SEC”) on August 9, 2023, for the sole purpose of including revised Exhibits 31.1, 31.2, 32.1 and 32.2, which replace the previously filed versions of those exhibits, solely to correct an inadvertent omission of the signature date on each of those exhibits as filed with the Original Form 10-Q. Other than the correction of this inadvertent omission of the dates on each of Exhibits 31.1, 31.2, 32.1 and 32.2, no other changes have been made to the Original Form 10-Q, and this Amendment No. 1 does not reflect any subsequent events occurring after the original filing date of the Original Form 10-Q, nor does this Amendment No. 1 modify or update in any way disclosures made in the Original Form 10-Q. |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Loans | $ 3,416,299 | $ 3,153,609 |
Less: Allowance for credit losses | (43,363) | (39,813) |
Net loans | 3,372,936 | 3,113,796 |
Securities available-for-sale, at market (amortized cost $936,998 and $972,315, respectively) | 799,841 | 822,812 |
Loans held for sale | 5,389 | 3,355 |
Interest bearing deposits | 144,896 | 78,948 |
Restricted equity securities | 3,461 | 4,357 |
Federal funds sold | 17,036 | 308 |
Total earning assets | 4,343,559 | 4,023,576 |
Cash and due from banks | 25,737 | 25,533 |
Bank premises and equipment, net | 61,938 | 62,031 |
Accrued interest receivable | 11,146 | 11,397 |
Deferred income tax asset | 48,560 | 51,323 |
Bank owned life insurance | 58,802 | 58,007 |
Other assets | 45,540 | 48,978 |
Goodwill | 4,805 | 4,805 |
Total assets | 4,600,087 | 4,285,650 |
Liabilities and Shareholders’ Equity | ||
Noninterest-bearing | 414,086 | 414,905 |
Interest bearing | 987,231 | 1,070,628 |
Savings and money market accounts | 1,415,586 | 1,640,312 |
Time | 1,346,015 | 766,860 |
Total deposits | 4,162,918 | 3,892,705 |
Accrued interest payable and other liabilities | 42,482 | 32,493 |
Total liabilities | 4,205,400 | 3,925,198 |
Shareholders’ equity: | ||
Common stock, $2.00 par value; authorized 50,000,000 shares, issued and outstanding 11,579,696 and 11,473,256 shares, respectively | 23,159 | 22,946 |
Additional paid-in capital | 129,526 | 122,296 |
Retained earnings | 343,250 | 325,625 |
Noncontrolling interest in consolidated subsidiary | 63 | 15 |
Accumulated other comprehensive losses, net of taxes of $35,846 and $39,073 respectively | (101,311) | (110,430) |
Total shareholders’ equity | 394,687 | 360,452 |
Total liabilities and shareholders’ equity | $ 4,600,087 | $ 4,285,650 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Available-for-sale, amortized cost | $ 936,998 | $ 972,315 |
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) | 11,579,696 | 11,473,256 |
Common stock, shares outstanding (in shares) | 11,579,696 | 11,473,256 |
Accumulated other comprehensive losses, taxes | $ 35,846 | $ 39,073 |
Consolidated Statements of Earn
Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Interest income: | ||||
Interest and fees on loans | $ 47,998 | $ 32,304 | $ 91,282 | $ 61,908 |
Interest and dividends on securities: | ||||
Taxable securities | 4,394 | 3,943 | 8,879 | 7,174 |
Exempt from federal income taxes | 393 | 355 | 783 | 679 |
Interest on loans held for sale | 39 | 14 | 110 | 168 |
Interest on federal funds sold | 163 | 59 | 205 | 66 |
Interest on balances held at depository institutions | 925 | 396 | 1,512 | 541 |
Interest and dividends on restricted securities | 75 | 26 | 146 | 60 |
Total interest income | 53,987 | 37,097 | 102,917 | 70,596 |
Interest expense: | ||||
Interest on negotiable order of withdrawal accounts | 1,389 | 457 | 2,649 | 922 |
Interest on money market and savings accounts | 6,685 | 676 | 11,898 | 1,118 |
Interest on time deposits | 11,837 | 1,090 | 18,824 | 2,311 |
Interest on Federal Home Loan Bank advances | 0 | 0 | 2 | 0 |
Interest on Federal funds purchased | 1 | 0 | 23 | 0 |
Interest on finance leases | 22 | 17 | 38 | 33 |
Total interest expense | 19,934 | 2,240 | 33,434 | 4,384 |
Net interest income before provision for credit losses | 34,053 | 34,857 | 69,483 | 66,212 |
Provision for credit losses - loans | 2,078 | 1,625 | 4,040 | 3,517 |
Provision for credit losses - off-balance sheet exposures | (1,020) | (608) | (2,298) | 217 |
Net interest income after provision for credit losses | 32,995 | 33,840 | 67,741 | 62,478 |
Non-interest income: | ||||
Service charges on deposit accounts | 1,911 | 1,777 | 3,779 | 3,496 |
Brokerage income | 1,572 | 1,690 | 3,224 | 3,429 |
Debit and credit card interchange income, net | 2,486 | 2,573 | 4,458 | 4,367 |
Other fees and commissions | 356 | 460 | 693 | 768 |
Income on BOLI and annuity contracts | 504 | 382 | 946 | 717 |
Gain on sale of loans | 636 | 511 | 1,366 | 2,725 |
Mortgage servicing income, net | 1 | (27) | 4 | (27) |
Gain (loss) on sale of fixed assets | (6) | 0 | (48) | 28 |
Gain on sale of securities | 3 | 0 | 3 | 0 |
Gain (loss) on sale of other assets | 0 | 0 | (1) | 8 |
Other income (loss) | 40 | 2 | 82 | (8) |
Total non-interest income | 7,503 | 7,368 | 14,506 | 15,503 |
Non-interest expense: | ||||
Salaries and employee benefits | 15,129 | 14,514 | 30,146 | 28,910 |
Occupancy expenses, net | 1,529 | 1,397 | 2,943 | 2,745 |
Advertising & public relations expense | 929 | 688 | 1,697 | 1,347 |
Furniture and equipment expense | 818 | 853 | 1,648 | 1,709 |
Data processing expense | 2,192 | 1,868 | 4,404 | 3,625 |
Directors’ fees | 175 | 148 | 319 | 301 |
Audit, legal & consulting expenses | 246 | 191 | 513 | 418 |
Other operating expenses | 3,441 | 3,065 | 6,611 | 5,898 |
Total non-interest expense | 24,459 | 22,724 | 48,281 | 44,953 |
Earnings before income taxes | 16,039 | 18,484 | 33,966 | 33,028 |
Income taxes | 3,617 | 4,343 | 7,688 | 7,514 |
Net earnings | 12,422 | 14,141 | 26,278 | 25,514 |
Net earnings attributable to noncontrolling interest | (33) | (2) | (48) | (2) |
Net earnings attributable to Wilson Bank Holding Company | $ 12,389 | $ 14,139 | $ 26,230 | $ 25,512 |
Weighted average number of common shares outstanding-basic (in shares) | 11,576,716 | 11,339,057 | 11,560,199 | 11,307,763 |
Weighted average number of common shares outstanding-diluted (in shares) | 11,606,946 | 11,370,255 | 11,590,173 | 11,339,264 |
Basic earnings per common share (in dollars per share) | $ 1.07 | $ 1.25 | $ 2.27 | $ 2.26 |
Diluted earnings per common share (in dollars per share) | 1.07 | 1.24 | 2.26 | 2.25 |
Dividends per common share (in dollars per share) | $ 0 | $ 0.35 | $ 0.75 | $ 1.10 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Earnings (Losses) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net earnings | $ 12,422 | $ 14,141 | $ 26,278 | $ 25,514 |
Other comprehensive earnings (losses): | ||||
Unrealized gains (losses) on available-for-sale securities | (9,680) | (40,641) | 12,349 | (100,927) |
Reclassification adjustment for net gains included in net earnings | (3) | 0 | (3) | 0 |
Tax effect | 2,531 | 10,622 | (3,227) | 26,377 |
Other comprehensive earnings (losses): | (7,152) | (30,019) | 9,119 | (74,550) |
Comprehensive earnings (losses) | 5,270 | (15,878) | 35,397 | (49,036) |
Comprehensive earnings attributable to noncontrolling interest | (33) | (2) | (48) | (2) |
Comprehensive earnings (losses) attributable to Wilson Bank Holding Company | $ 5,237 | $ (15,880) | $ 35,349 | $ (49,038) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [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] Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at beginning of period at Dec. 31, 2021 | $ 0 | $ 0 | $ 1,011 | $ 0 | $ 0 | $ 1,011 | $ 22,403 | $ 105,177 | $ 292,452 | $ 0 | $ (6,315) | $ 413,717 |
Issuance of shares of common stock pursuant to exercise of stock options | 12 | 84 | 0 | 0 | 0 | 96 | ||||||
Share based compensation expense | 0 | 371 | 0 | 0 | 0 | 371 | ||||||
Net change in fair value of available-for-sale securities during the year, net of taxes | 0 | 0 | 0 | 0 | (74,550) | (74,550) | ||||||
Net earnings | 0 | 0 | 25,512 | 2 | 0 | 25,514 | ||||||
Cash dividends declared | 0 | 0 | (12,360) | 0 | 0 | (12,360) | ||||||
Issuance of shares of common stock pursuant to dividend reinvestment plan | 302 | 9,311 | 0 | 0 | 0 | 9,613 | ||||||
Noncontrolling interest contribution | 0 | 0 | 0 | 37 | 0 | 37 | ||||||
Balance at end of period at Jun. 30, 2022 | 22,717 | 114,943 | 306,615 | 39 | (80,865) | 363,449 | ||||||
Balance at beginning of period at Mar. 31, 2022 | 22,615 | 111,694 | 296,435 | 0 | (50,846) | 379,898 | ||||||
Issuance of shares of common stock pursuant to exercise of stock options | 6 | 33 | 0 | 0 | 0 | 39 | ||||||
Share based compensation expense | 0 | 210 | 0 | 0 | 0 | 210 | ||||||
Net change in fair value of available-for-sale securities during the year, net of taxes | 0 | 0 | 0 | 0 | (30,019) | (30,019) | ||||||
Net earnings | 0 | 0 | 14,139 | 2 | 0 | 14,141 | ||||||
Cash dividends declared | 0 | 0 | (3,959) | 0 | 0 | (3,959) | ||||||
Issuance of shares of common stock pursuant to dividend reinvestment plan | 96 | 3,006 | 0 | 0 | 0 | 3,102 | ||||||
Noncontrolling interest contribution | 0 | 0 | 0 | 37 | 0 | 37 | ||||||
Balance at end of period at Jun. 30, 2022 | 22,717 | 114,943 | 306,615 | 39 | (80,865) | 363,449 | ||||||
Balance at beginning of period at Dec. 31, 2022 | 22,946 | 122,296 | 325,625 | 15 | (110,430) | 360,452 | ||||||
Issuance of shares of common stock pursuant to exercise of stock options | 19 | 385 | 0 | 0 | 0 | 404 | ||||||
Share based compensation expense | 0 | 473 | 0 | 0 | 0 | 473 | ||||||
Net change in fair value of available-for-sale securities during the year, net of taxes | 0 | 0 | 0 | 0 | 9,119 | 9,119 | ||||||
Net earnings | 0 | 0 | 26,230 | 48 | 0 | 26,278 | ||||||
Cash dividends declared | 0 | 0 | (8,605) | 0 | 0 | (8,605) | ||||||
Issuance of shares of common stock pursuant to dividend reinvestment plan | 194 | 6,372 | 0 | 0 | 0 | 6,566 | ||||||
Balance at end of period at Jun. 30, 2023 | 23,159 | 129,526 | 343,250 | 63 | (101,311) | 394,687 | ||||||
Balance at beginning of period at Mar. 31, 2023 | 23,145 | 128,963 | 330,861 | 30 | (94,159) | 388,840 | ||||||
Issuance of shares of common stock pursuant to exercise of stock options | 14 | 317 | 0 | 0 | 0 | 331 | ||||||
Share based compensation expense | 0 | 246 | 0 | 0 | 0 | 246 | ||||||
Net change in fair value of available-for-sale securities during the year, net of taxes | 0 | 0 | 0 | 0 | (7,152) | (7,152) | ||||||
Net earnings | 0 | 0 | 12,389 | 33 | 0 | 12,422 | ||||||
Balance at end of period at Jun. 30, 2023 | $ 23,159 | $ 129,526 | $ 343,250 | $ 63 | $ (101,311) | $ 394,687 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Issuance of shares of common stock, shares (in shares) | 7,067 | 2,607 | 9,667 | 5,915 |
Net change in fair value of available-for-sale securities during the period, taxes | $ 2,531 | $ 10,622 | $ 3,227 | $ 26,377 |
Cash dividends declared, per share (in dollars per share) | $ 0 | $ 0.35 | $ 0.75 | $ 1.10 |
Issuance of shares of common stock pursuant to dividend reinvestment plan, shares (in shares) | 48,172 | 96,773 | 151,105 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
OPERATING ACTIVITIES | ||
Net earnings | $ 26,278 | $ 25,514 |
Adjustments to reconcile consolidated net income to net cash provided (used) by operating activities | ||
Provision for credit losses | 1,742 | 3,734 |
Deferred income tax benefit | (464) | (1,193) |
Depreciation and amortization of premises and equipment | 2,197 | 2,237 |
Loss (gain) on disposal of premises and equipment | 48 | (28) |
Net amortization of securities | 1,426 | 2,321 |
Net realized gain on sale of securities | (3) | 0 |
Gains on mortgage loans sold, net | (1,366) | (2,725) |
Share-based compensation expense | 719 | 844 |
Loss (gain) on sale of other assets | 1 | (8) |
Increase in value of life insurance and annuity contracts | (946) | (717) |
Mortgage loans originated for resale | (44,834) | (79,099) |
Proceeds from sale of mortgage loans | 44,166 | 87,476 |
Right of use asset amortization | 220 | 193 |
Change in | ||
Accrued interest receivable | 251 | (1,899) |
Other assets | 2,792 | 585 |
Accrued interest payable | 9,712 | (294) |
Other liabilities | 3,541 | 2,941 |
TOTAL ADJUSTMENTS | 19,202 | 14,368 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 45,480 | 39,882 |
INVESTING ACTIVITIES | ||
Purchases | (4,314) | (172,814) |
Sales | 11,498 | 0 |
Maturities, prepayments and calls | 26,710 | 51,044 |
Redemptions (purchases) of restricted equity securities | 896 | 0 |
Net increase in loans | (263,009) | (291,041) |
Purchase of buildings, leasehold improvements, and equipment | (2,106) | (1,400) |
Proceeds from sale of premises and equipment | 0 | 28 |
Purchase of life insurance and annuity contracts | 0 | (709) |
Redemption of annuity contracts | 358 | 0 |
NET CASH USED IN INVESTING ACTIVITIES | (229,967) | (414,892) |
FINANCING ACTIVITIES | ||
Net change in deposits - non-maturing | (308,942) | 178,776 |
Net change in deposits - time | 579,155 | (23,041) |
Change in escrow balances | (1,196) | 4,252 |
Repayment of finance lease obligation | (15) | (13) |
Net increase in noncontrolling interest contributions | 0 | 37 |
Issuance of common stock related to exercise of stock options | 404 | 96 |
Issuance of common stock pursuant to dividend reinvestment plan | 6,566 | 9,613 |
Cash dividends paid on common stock | (8,605) | (12,360) |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 267,367 | 157,360 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 82,880 | (217,650) |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 104,789 | 453,418 |
CASH AND CASH EQUIVALENTS - END OF PERIOD | 187,669 | 235,768 |
Supplemental disclosure of cash flow information: | ||
Interest | 23,722 | 4,678 |
Taxes | 8,120 | 9,326 |
Non-cash investing and financing activities: | ||
Change in fair value of securities available-for-sale, net of tax (expense)/benefit of ($3,227) and $26,377 for the six months ended June 30, 2023 and 2022, respectively | 9,119 | (74,550) |
Non-cash transfers from loans to other real estate | 0 | 0 |
Non-cash transfers from loans to other assets | $ 0 | $ 0 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Unrealized gain in value of securities available-for-sale, taxes | $ (3,227) | $ 26,377 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1. Nature of Business June 1, 2022, Basis of Presentation 10 not 10 December 31, 2022 These consolidated financial statements include the accounts of the Company, the Bank, and Encompass. Significant intercompany transactions and accounts are eliminated in consolidation. Use of Estimates aterial estimates that are particularly susceptible to significant change in the near term include the determination of the allowance for credit losses, the valuation of deferred tax assets, determination of any impairment of goodwill or other intangibles, the valuation of other real estate (if any), and the fair value of financial instruments. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10 December 31, 2022 . There have been no 10 December 31, 2022 . Accounting Changes, Reclassifications and Restatements January 1, 2022, 2016 13, 326 326 326 326 326 not not In connection with the adoption of ASC 326, Allowance For Credit Losses - Loans 326, not 2 Allowance For Credit Losses - Off-Balance-Sheet Credit Exposures 326, No 11 Securities no Interest income on securities includes amortization of purchase premiums and discounts. Premiums and discounts on securities are generally amortized using the interest method with a constant effective yield without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Premiums on callable securities are amortized to their earliest call date. A security is placed on non-accrual status if (i) principal or interest has been in default for a period of 90 not not Allowance for Credit Losses - Securities Available-for-Sale not not not Newly Issued Not Information about certain recently issued accounting standards updates is presented below. Also refer to Note 1 2022 10 Accounting Standards Update ("ASU") 2022 03, 820 June 2022, 820 December 15, 2023. 2022 03 2022 03 Recently Adopted Accounting Standards ASU 2016 13, “ Financial Instruments - Credit Losses (Topic 326 ” ASU 2016 - 13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. As noted above, effective January 1, 2022 the Company adopted ASU 2016 - 13, which resulted in a $7.6 million decrease to the allowance for credit losses and a $6.2 million increase to the reserve for unfunded commitments, resulting in a $1.0 million increase in retained earnings (net of taxes). See Note 2 – Loans and Allowance for Credit Losses for additional information. ASU 2020 04, 848 March 2020, March 12, 2020 December 31, 2022. December 2022, Accounting Standards Update 2020 04, 848 Accounting Standards Update 2022 06, 848 848, March 12, 2020 December 31, 2024. August 2023. ASU 2022 01, “ Derivatives and Hedging (Topic 815 ” ASU 2022 - 01 was issued to expand the scope of assets eligible for portfolio layer method hedging to include all financial assets. The update also expands the current last-of-layer method that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. The last-of-layer method is renamed the portfolio layer method, because more than the last layer of a portfolio could be hedged. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The adoption of ASU 2022 01 not ASU 2022 02, “ Financial Instruments - Credit Losses (Topic 326 ” ASU 2022 - 02 was issued to respond to feedback received from post-implementation review of Topic 326. The amendments eliminate the troubled debt restructuring (TDR) recognition and measurement guidance and now require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments enhance existing disclosures and include new disclosure requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. To improve consistency for vintage disclosures, the ASU requires that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326 - 20. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The adoption of ASU 2022 02 not Other than those previously discussed, there were no |
Note 2 - Loans and Allowance fo
Note 2 - Loans and Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 2. Loans — 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 June 30, 2023 December 31, 2022 (In Thousands) June 30, 2023 December 31, 2022 Residential 1-4 family real estate $ 900,198 $ 854,970 Commercial and multi-family real estate 1,158,864 1,064,297 Construction, land development and farmland 967,611 879,528 Commercial, industrial and agricultural 126,690 124,603 1-4 family equity lines of credit 180,540 151,032 Consumer and other 96,003 93,332 Total loans before net deferred loan fees 3,429,906 3,167,762 Net deferred loan fees (13,607 ) (14,153 ) Total loans 3,416,299 3,153,609 Less: Allowance for credit losses (43,363 ) (39,813 ) Net loans $ 3,372,936 $ 3,113,796 Risk characteristics relevant to each portfolio segment are as follows: Construction, land development and farmland: may Residential 1 4 1 4 first second 1 4 first second second 1 4 Commercial and multi-family 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, industrial, and agricultural: may not may may may Consumer: may one five may Allowance For Credit Losses ("ACL") - Loans. 326, may not not The Company’s discounted cash flow methodology incorporates a probability of default and loss given default model, as well as expectations of future economic conditions, using reasonable and supportable forecasts. Together, the probability of default and loss given default model with the use of reasonable and supportable forecasts generate estimates for cash flows expected and not third four four may For segments where the discounted cash flow methodology is not The estimated loan losses for all loan segments are adjusted for changes in qualitative factors not may 1. Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not 2. Changes in international, national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments. 3. Changes in the nature and volume of the portfolio and in the terms of loans. 4. Changes in the experience, ability, and depth of lending management and other relevant staff. 5. Changes in the volume and severity of past-due loans, the volume of non-accrual loans, and the volume and severity of adversely classified or graded loans. 6. Changes in the quality of the Company's loan review system. 7. Changes in the value of underlying collateral for collateral-dependent loans. 8. The existence and effect of any concentrations of credit, and changes in the level of such concentrations. 9. The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the Company’s existing portfolio. The qualitative allowance allocation, as determined by the processes noted above, is increased or decreased for each loan segment based on the assessment of these various qualitative factors. Loans that do not $500,000 not 326 $100,000 In assessing the adequacy of the allowance for credit losses, the Company considers the results of the Company's ongoing independent loan review process. The Company undertakes this process both to ascertain those loans in the portfolio with elevated credit risk and to assist in its overall evaluation of the risk characteristics of the entire loan portfolio. Its loan review process includes the judgment of management, independent internal loan reviewers and reviews that may third In accordance with CECL, losses are estimated over the remaining contractual terms of loans, adjusted for prepayments and curtailment. The contractual term excludes expected extensions, renewals and modifications. Credit losses are estimated on the amortized cost basis of loans, which includes the principal balance outstanding and deferred loan fees and costs. While management utilizes its best judgment and information available, the ultimate appropriateness of the allowance is dependent upon a variety of factors beyond our control, including the performance of our loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. Loans are charged off when management believes that the full collectability of the loan is unlikely. As such, a loan may Transactions in the allowance for credit losses for the six June 30, 2023 June 30, 2022 (In Thousands) Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total June 30, 2023 Allowance for credit losses - loans: Beginning balance January 1, $ 7,310 15,299 13,305 1,437 1,170 1,292 39,813 Provision for credit losses 911 1,245 877 130 252 625 4,040 Charge-offs — — — — — (732 ) (732 ) Recoveries 10 — 7 — — 225 242 Ending balance $ 8,231 16,544 14,189 1,567 1,422 1,410 43,363 (In Thousands) Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total June 30, 2022 Allowance for credit losses - loans: Beginning balance January 1, $ 9,242 16,846 9,757 1,329 1,098 1,360 39,632 Impact of adopting ASC 326 (3,393 ) (3,433 ) (266 ) 219 (324 ) (367 ) (7,564 ) Provision 432 196 2,199 (13 ) 142 561 3,517 Charge-offs — — — — — (593 ) (593 ) Recoveries 10 — 6 7 — 223 246 Ending balance $ 6,291 13,609 11,696 1,542 916 1,184 35,238 Transactions in the allowance for credit losses for the three June 30, 2023 June 30, 2022 (In Thousands) Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total June 30, 2023 Allowance for credit losses - loans: Beginning balance April 1, $ 7,957 15,686 13,797 1,555 1,224 1,227 41,446 Provision for credit losses 264 858 389 12 198 357 2,078 Charge-offs — — — — — (284 ) (284 ) Recoveries 10 — 3 — — 110 123 Ending balance $ 8,231 16,544 14,189 1,567 1,422 1,410 43,363 (In Thousands) Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total June 30, 2022 Allowance for credit losses - loans: Beginning balance April 1, $ 5,910 14,032 10,396 1,588 857 995 33,778 Provision 379 (423 ) 1,297 (46 ) 59 359 1,625 Charge-offs — — — — — (306 ) (306 ) Recoveries 2 — 3 — — 136 141 Ending balance $ 6,291 13,609 11,696 1,542 916 1,184 35,238 The following table presents the amortized cost basis of collateral dependent loans at June 30, 2023 December 31, 2022 In Thousands Real Estate Other Total June 30, 2023 Residential 1-4 family real estate $ 1,956 — 1,956 Commercial and multi-family real estate 2,931 — 2,931 Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — 4,887 — 4,887 In Thousands Real Estate Other Total December 31, 2022 Residential 1-4 family real estate $ 130 — 130 Commercial and multi-family real estate 508 — 508 Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — $ 638 — 638 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 The following tables present the Company’s nonaccrual loans and past due loans as of June 30, 2023 December 31, 2022 Loans on Nonaccrual Status In Thousands June 30, December 31, 2023 2022 Residential 1-4 family real estate $ — $ — Commercial and multi-family real estate — — Construction, land development and farmland — — Commercial, industrial and agricultural — — 1-4 family equity lines of credit — — Consumer and other — — Total $ — $ — Past Due Loans (In thousands) 30-59 Days Past Due 60-89 Days Past Due Non Accrual and Greater Than 89 Days Past Due Total Non Accrual and Past Due Current Total Loans Recorded Investment Greater Than 89 Days Past Due and Accruing June 30, 2023 Residential 1-4 family real estate $ 841 238 136 1,215 898,983 900,198 $ 136 Commercial and multi-family real estate 480 — — 480 1,158,384 1,158,864 — Construction, land development and farmland 387 — — 387 967,224 967,611 — Commercial, industrial and agricultural 16 12 7 35 126,655 126,690 7 1-4 family equity lines of credit 221 153 — 374 180,166 180,540 — Consumer and other 319 646 41 1,006 94,997 96,003 41 Total $ 2,264 1,049 184 3,497 3,426,409 3,429,906 $ 184 December 31, 2022 Residential 1-4 family real estate $ 2,046 1,080 426 3,552 851,418 854,970 $ 426 Commercial and multi-family real estate 397 1,626 400 2,423 1,061,874 1,064,297 400 Construction, land development and farmland 591 — — 591 878,937 879,528 — Commercial, industrial and agricultural 49 62 — 111 124,492 124,603 — 1-4 family equity lines of credit 74 77 — 151 150,881 151,032 — Consumer and other 403 184 43 630 92,702 93,332 43 Total $ 3,560 3,029 869 7,458 3,160,304 3,167,762 $ 869 Loan Modifications to Borrowers Experiencing Financial Difficulty Effective January 1, 2023, 2022 02 Occasionally, the Company modifies loans to borrowers in financial distress by providing, principal forgiveness, term extension, an other-than-insignificant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses. In some cases, the Company provides multiple types of concessions on one one may two The following table presents the amortized cost basis of loans at June 30, 2023 g the six June 30, 2023 (In Thousands) Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Principal Forgiveness Combination Term Extension and Interest Rate Reduction Total Class of Financing Receivable Residential 1-4 family real estate $ — $ 947 $ — $ — $ — $ — 0.11 % Commercial and multi-family real estate — 2,436 — — — — 0.21 % Construction, land development and farmland — — — — — — — % Commercial, industrial and agricultural — — 97 — — — 0.08 % 1-4 family equity lines of credit — — — — — — — % Consumer and other — — — — — — — % Total $ — $ 3,383 $ 97 $ — $ — $ — 0.10 % The Company has not The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of such loans that have been modified within the last 12 In Thousands 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due June 30, 2023 Residential 1-4 family real estate $ — $ — $ — $ — Commercial and multi-family real estate — — — — Construction, land development and farmland — — — — Commercial, industrial and agricultural — — — — 1-4 family equity lines of credit — — — — Consumer and other — — — — Total $ — $ — $ — $ — As evidenced above, no 12 thirty The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three six June 30, 2023 (dollars in thousands): Six Months Ended June 30, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Months of Term Extension Residential 1-4 family real estate $ — — % — Commercial and multi-family real estate — — — Construction, land development and farmland — — — Commercial, industrial and agricultural — — 37 1-4 family equity lines of credit — — — Consumer and other — — — Total $ — — % 37 Three Months Ended June 30, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Months of Term Extension Residential 1-4 family real estate $ — — % — Commercial and multi-family real estate — — — Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — Total $ — — % — There were no three June 30, 2023. The following table presents the amortized cost basis of loans that had a payment default during the three six June 30, 2023 and wer twelve In Thousands Six Months Ended June 30, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Residential 1-4 family real estate $ — $ — $ — $ — Commercial and multi-family real estate — — — — Construction, land development and farmland — — — — Commercial, industrial and agricultural — — — — 1-4 family equity lines of credit — — — — Consumer and other — — — — Total $ — $ — $ — $ — In Thousands Three Months Ended June 30, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Residential 1-4 family real estate $ — $ — $ — $ — Commercial and multi-family real estate — — — — Construction, land development and farmland — — — — Commercial, industrial and agricultural — — — — 1-4 family equity lines of credit — — — — Consumer and other — — — — Total $ — $ — $ — $ — There were no three six June 30, 2023. Upon the Company's determination that a modified loan (or a portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized costs basis of the loan is reduced by the amount deemed uncollectible and the allowance for credit losses is adjusted by the same amount. TDR Disclosures Prior to Adoption of ASU 2022 02 Prior to the adoption of ASU 2022 02 may The Company did not three six June 30, 2022. As of June 30, 2023 e no consumer mortgage loans in the process of foreclosure. December 31, 2022 Potential problem loans, which include nonperforming loans, amounted to approximately $4.7 million at June 30, 2023 December 31, 2022 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 collateral dependent and places such loans on nonaccrual status. The table below presents loan balances classified within each risk rating category by primary loan type and based on year of origination as of June 30, 2023 In Thousands Revolving 2023 2022 2021 2020 2019 Prior Loans Total June 30, 2023 Residential 1-4 family real estate Pass $ 85,818 289,151 252,693 98,878 59,129 99,673 11,154 896,496 Special mention — 241 — 881 62 1,482 — 2,666 Substandard — — — — 130 906 — 1,036 Total Residential 1-4 family real estate $ 85,818 289,392 252,693 99,759 59,321 102,061 11,154 900,198 Residential 1-4 family real estate: Current-period gross charge-offs $ — — — — — — — — Commercial and multi-family real estate Pass $ 38,243 283,452 295,110 184,535 96,211 224,059 36,975 1,158,585 Special mention — — — 158 — 36 — 194 Substandard — — — — — 85 — 85 Total Commercial and multi-family real estate $ 38,243 283,452 295,110 184,693 96,211 224,180 36,975 1,158,864 Commercial and multi-family real estate: Current-period gross charge-offs $ — — — — — — — — Construction, land development and farmland Pass $ 128,715 379,396 204,918 31,324 8,567 13,380 201,256 967,556 Special mention — — — — — 55 — 55 Substandard — — — — — — — — Total Construction, land development and farmland $ 128,715 379,396 204,918 31,324 8,567 13,435 201,256 967,611 Construction, land development and farmland: Current-period gross charge-offs $ — — — — — — — — Commercial, industrial and agricultural Pass $ 15,899 35,873 8,892 13,710 17,895 8,363 25,942 126,574 Special mention 97 — — — — — — 97 Substandard — 7 — — — — 12 19 Total Commercial, industrial and agricultural $ 15,996 35,880 8,892 13,710 17,895 8,363 25,954 126,690 Commercial, industrial and agricultural: Current-period gross charge-offs $ — — — — — — — — 1-4 family equity lines of credit Pass $ — — — — — — 180,314 180,314 Special mention — — — — — — 86 86 Substandard — — — — — — 140 140 Total 1-4 family equity lines of credit $ — — — — — — 180,540 180,540 1-4 family equity lines of credit: Current-period gross charge-offs $ — — — — — — — — Consumer and other Pass $ 16,368 20,716 7,815 15,853 5,329 6,805 22,842 95,728 Special mention — 66 83 12 — — — 161 Substandard — 90 9 12 — 3 — 114 Total Consumer and other $ 16,368 20,872 7,907 15,877 5,329 6,808 22,842 96,003 Consumer and other: Current-period gross charge-offs $ 1 105 41 4 — 1 580 732 The table below presents loan balances classified within each risk rating category based on year of origination as of June 30, 2023 In Thousands 2023 2022 2021 2020 2019 Prior Revolving Loans Total June 30, 2023 Pass $ 285,043 1,008,588 769,428 344,300 187,131 352,280 478,483 3,425,253 Special mention 97 307 83 1,051 62 1,573 86 3,259 Substandard — 97 9 12 130 994 152 1,394 Total $ 285,140 1,008,992 769,520 345,363 187,323 354,847 478,721 3,429,906 The table below presents loan balances classified within each risk rating category by primary loan type and based on year of origination as of December 31, 2022 : In Thousands Revolving 2022 2021 2020 2019 2018 Prior Loans Total December 31, 2022 Residential 1-4 family real estate: Pass $ 290,315 262,690 106,107 61,984 29,526 81,229 17,751 849,602 Special mention 245 300 885 62 115 1,955 349 3,911 Substandard — — — 131 — 1,326 — 1,457 Total Residential 1-4 family real estate $ 290,560 262,990 106,992 62,177 29,641 84,510 18,100 854,970 Commercial and multi-family real estate: Pass $ 271,403 246,265 161,326 107,908 74,494 166,267 36,342 1,064,005 Special mention — — 162 — — 40 — 202 Substandard — — — — — 90 — 90 Total Commercial and multi-family real estate $ 271,403 246,265 161,488 107,908 74,494 166,397 36,342 1,064,297 Construction, land development and farmland: Pass $ 364,681 237,051 90,341 9,648 5,212 9,445 163,076 879,454 Special mention — — — — — 60 — 60 Substandard — — — — — 14 — 14 Total Construction, land development and farmland $ 364,681 237,051 90,341 9,648 5,212 9,519 163,076 879,528 Commercial, industrial and agricultural: Pass $ 39,222 10,812 15,743 20,441 5,062 4,641 28,567 124,488 Special mention 7 44 17 — — 47 — 115 Substandard — — — — — — — — Total Commercial, industrial and agricultural $ 39,229 10,856 15,760 20,441 5,062 4,688 28,567 124,603 1-4 family equity lines of credit: Pass $ — — — — — — 150,849 150,849 Special mention — — — — — — 67 67 Substandard — — — — — — 116 116 Total 1-4 family equity lines of credit $ — — — — — — 151,032 151,032 Consumer and other: Pass $ 28,487 11,163 18,075 5,995 345 6,757 22,166 92,988 Special mention 74 130 20 2 — — — 226 Substandard 74 19 13 — 11 1 — 118 Total Consumer and other $ 28,635 11,312 18,108 5,997 356 6,758 22,166 93,332 The table below presents loan balances classified within each risk rating category based on year of origination as of December 31, 2022 : In Thousands 2022 2021 2020 2019 2018 Prior Revolving Loans Total December 31, 2022 Pass $ 994,108 767,981 391,592 205,976 114,639 268,339 418,751 3,161,386 Special mention 326 474 1,084 64 115 2,102 416 4,581 Substandard 74 19 13 131 11 1,431 116 1,795 Total $ 994,508 768,474 392,689 206,171 114,765 271,872 419,283 3,167,762 |
Note 3 - Debt and Equity Securi
Note 3 - Debt and Equity Securities | 6 Months Ended |
Jun. 30, 2023 | |
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 June 30, 2023 December 31, 2022 June 30, 2023 Securities Available-For-Sale In Thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Market Value U.S. Treasury and other U.S. government agencies $ 7,370 — 830 6,540 U.S. Government-sponsored enterprises (GSEs) 177,249 — 27,891 149,358 Mortgage-backed securities 485,679 2 71,139 414,542 Asset-backed securities 45,048 30 2,192 42,886 Corporate bonds 2,500 — 119 2,381 Obligations of states and political subdivisions 219,152 — 35,018 184,134 $ 936,998 32 137,189 799,841 December 31, 2022 Securities Available-For-Sale In Thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Market Value U.S. Treasury and other U.S. government agencies $ 7,353 — 856 6,497 U.S. Government-sponsored enterprises (GSEs) 177,261 — 32,049 145,212 Mortgage-backed securities 518,727 1 74,290 444,438 Asset-backed securities 47,538 — 2,288 45,250 Corporate bonds 2,500 — 97 2,403 Obligations of states and political subdivisions 218,936 — 39,924 179,012 $ 972,315 1 149,504 822,812 As of June 30, 2023 no Included in mortgage-backed securities are collateralized mortgage obligations totaling $139,838,000 (fair value of $118,049,000) and $148,460,000 (fair value of $126,190,000) at June 30, 2023 and December 31, 2022 , respectively. Securities carried on the balance sheet of approximately $502,138,000 (approximate market value of $429,123,000) and $477,051,000 (approximate market value of $405,403,000) were pledged to secure public deposits and for other purposes as required by law at June 30, 2023 and December 31, 2022 , respectively. At June 30, 2023 , there were no one 10% The amortized cost and estimated market value of debt securities at June 30, 2023 may Available-For-Sale In Thousands Amortized Cost Estimated Market Value Due in one year or less $ 5,023 $ 4,985 Due after one year through five years 99,690 88,969 Due after five years through ten years 267,253 226,090 Due after ten years 565,032 479,797 $ 936,998 $ 799,841 The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2023 December 31, 2022 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total June 30, 2023 Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Available-for-Sale Securities: U.S. Treasury and other U.S. government agencies $ — $ — — $ 6,540 $ 830 3 $ 6,540 $ 830 U.S. Government-sponsored enterprises (GSEs) — — — 149,358 27,891 58 149,358 27,891 Mortgage-backed securities 604 12 5 413,424 71,127 233 414,028 71,139 Asset-backed securities 13,653 757 6 24,238 1,435 22 37,891 2,192 Corporate bonds — — — 2,381 119 1 2,381 119 Obligations of states and political subdivisions 8,054 131 4 176,080 34,887 202 184,134 35,018 $ 22,311 $ 900 15 $ 772,021 $ 136,289 519 $ 794,332 $ 137,189 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total December 31, 2022 Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Available-for-Sale Securities: U.S. Treasury and other U.S. government agencies $ — $ — — $ 6,497 $ 856 — 6,497 $ 856 U.S. Government-sponsored enterprises (GSEs) 9,747 872 4 135,465 31,177 54 145,212 32,049 Mortgage-backed securities 148,441 14,601 113 295,431 59,689 136 443,872 74,290 Asset-backed securities 35,276 1607 21 9,974 681 11 45,250 2,288 Corporate bonds 2,403 97 1 — — — 2,403 97 Obligations of states and political subdivisions 58,567 6,056 76 120,445 33,868 128 179,012 39,924 $ 254,434 $ 23,233 215 $ 567,812 $ 126,271 332 $ 822,246 $ 149,504 The applicable date for determining when securities are in an unrealized loss position is June 30, 2023 December 31, 2022 six June 30, 2023 twelve December 31, 2022 not 12 As shown in the tables above, at June 30, 2023 December 31, 2022 $794.3 million and $822.2 million, r 1. not not not June 30, 2023 not not may no June 30, 2023 not no June 30, 2023 Mortgage-Backed Securities At June 30, 2023 not not not not not June 30, 2023 The Company's mortgage-backed securities portfolio includes non-agency collateralized mortgage obligations with a fair value of $9.5 million which had unrealized losses of approximately $1.6 million a June 30, 2023 June 30, 2023 June 30, 2023 no not not not Obligations of States and Political Subdivisions Unrealized losses on municipal bonds have not not not not Asset-Backed Securities The Company's asset-backed securities portfolio includes agency and non-agency asset backed and other amortizing debt securities with a fair value of $42.9 million which had unrealized losses of approximately $2.2 million at June 30, 2023 June 30, 2023 no not not not Corporate Bonds The Company's lone corporate debt security with a fair value of $2.4 million had an unrealized loss of approximately $0.1 million at June 30, 2023 June 30, 2023 no not not not |
Note 4 - Derivatives
Note 4 - Derivatives | 6 Months Ended |
Jun. 30, 2023 | |
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 variable interest rates tied to the applicable reference rate. 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 th e second 2020, one 1 September 1, 2023, 1 A summary of the Company's fair value hedge relationships as of June 30, 2023 December 31, 2022 June 30, 2023 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 6.93 0.65 % 1 month LIBOR $ 30,000 4,458 December 31, 2022 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 7.42 0.65 % 1 month LIBOR $ 30,000 4,520 The effects of fair value hedge relationships reported in interest income on loans on the consolidated statements of income for the six June 30, 2023 2022 Six Months Ended June 30, Gain (loss) on fair value hedging relationship 2023 2022 Interest rate swap agreements - loans: Hedged items $ 172 (2,368 ) Derivative designated as hedging instruments (62 ) 2,394 The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges at June 30, 2023 December 31, 2022 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 June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Loans $ 25,624 25,452 (4,376 ) (4,548 ) 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 rate lock commitments are entered into in an effort to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. At June 30, 2023 and December 31, 2022 , 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. June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 nges 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 June 30, 2023 June 30, 2022 Interest rate contracts for customers $ 34 (467 ) Forward contracts related to mortgage loans held for sale and interest rate contracts (34 ) (28 ) The following table reflects the amount and fair value of mortgage banking derivatives included in the consolidated balance sheet as of June 30, 2023 December 31, 2022 In Thousands June 30, 2023 December 31, 2022 Notional Amount Fair Value Notional Amount Fair Value Included in other assets (liabilities): Interest rate contracts for customers $ 7,252 157 6,923 123 Forward contracts related to mortgage loans held-for-sale 7,000 28 6,250 62 |
Note 5 - Mortgage Servicing Rig
Note 5 - Mortgage Servicing Rights | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Transfers and Servicing of Financial Assets [Text Block] | Note 5. During the first 2022, third not June 30, 2023 December 31, 2022 In Thousands June 30, 2023 December 31, 2022 Mortgage loan portfolios serviced for: FHLMC $ 100,774 $ 85,742 For the six June 30, 2023 2022 In Thousands June 30, 2023 June 30, 2022 Balance at beginning of period $ 1,065 — Servicing rights retained from loans sold 214 1,277 Amortization (91 ) (264 ) Valuation Allowance Provision — (90 ) Balance at end of period $ 1,188 923 Fair value, end of period $ 1,526 923 The key data and assumptions used in estimating the fair value of the Company's mortgage servicing rights as of June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Prepayment speed 7.12 % 7.18 % Weighted-average life (in years) 9.06 8.98 Weighted-average note rate 4.70 % 4.34 % Weighted-average discount rate 9.00 % 9.00 % |
Note 6 - Equity Incentive Plans
Note 6 - Equity Incentive Plans | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 6. In April 2009, 2009 “2009 2009 April 14, 2009. 2009 2009 2009 2009 April 13, 2019, may 2009 2009 June 30, 2023 2009 During the second 2016, 2016 2016 January 25, 2016 April 12, 2016. September 26, 2016, 2016 “2016 June 30, 2023 2016 June 30, 2023 2016 Stock Options As of June 30, 2023 The following table summarizes information about stock options and cash-settled SARs activity for the six June 30, 2023 2022 June 30, 2023 June 30, 2022 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options and SARs outstanding at beginning of period 414,778 $ 55.13 357,254 $ 50.18 Granted 5,000 69.00 114,332 64.06 Exercised (18,540 ) 48.83 (24,601 ) 41.55 Forfeited or expired (5,167 ) 60.35 (1,167 ) 46.81 Outstanding at end of period 396,071 $ 55.53 445,818 $ 54.22 Options and SARs exercisable at June 30 190,510 $ 48.50 173,425 $ 43.27 As of June 30, 2023 re was of total unrecognized cost related to non-vested stock options and SARs granted under the Company's equity incentive plans. The cost is expected to be recognized over a weighted-average period of years. Time-based Vesting Restricted Shares and Restricted Share Units A summary of restricted share awards and restricted share unit awards activity for the six June 30, 2023 Restricted Share Awards Restricted Share Units Shares Weighted Average Grant-Date Fair Value Shares Weighted Average Grant-Date Fair Value Outstanding at December 31, 2022 1,075 $ 64.03 — $ — Granted — — 14,833 69.00 Vested — — — — Forfeited — — — — Outstanding at June 30, 2023 1,075 $ 64.03 14,833 $ 69.00 The restricted shares and restricted share units vest over various time periods. As of June 30, 2023 , there was $37,000 of unrecognized compensation cost related to non-vested restricted share awards. The cost is expected to be expensed over a weighted-average period of 1.61 years. As of June 30, 2023 , there was $890,000 of unrecognized compensation cost related to non-vested restricted share units, all of which were granted to employees of the Bank during the second 2023. Performance-Based Vesting Restricted Stock Units ("PSUs") The Company awards performance-based restricted stock units to officers and employees of the Bank. Under the terms of the awards, the number of units that will be earned and thereafter settled in shares of common stock will be based on the employee's performance against certain performance metrics over a fixed three The following tables detail the PSU's outstanding at June 30, 2023. Performance Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 — $ — Granted 1,107 67.85 Vested — — Forfeited or expired — — Outstanding at June 30, 2023 1,107 $ 67.85 Grant Year Grant Price Applicable Performance Period Period in which units to be settled PSUs Outstanding 2023 $ 67.85 2023 2025 2024 2026 1,107 As of June 30, 2023, |
Note 7 - Regulatory Capital
Note 7 - Regulatory Capital | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 7. 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 June 30, 2023 , the Bank and the Company meet all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five not June 30, 2023 and December 31, 2022 , the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no The Company’s and Wilson Bank’s actual capital amounts and ratios as of June 30, 2023 December 31, 2022 2.5% not Actual Minimum Capital Adequacy For Classification Under Corrective Action Plan as Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) June 30, 2023 Total capital to risk weighted assets: Consolidated $ 538,392 13.9 % $ 310,487 8.0 % $ 388,109 10.0 % Wilson Bank 534,956 13.8 310,376 8.0 387,970 10.0 Tier 1 capital to risk weighted assets: Consolidated 491,192 12.7 232,864 6.0 310,486 8.0 Wilson Bank 487,756 12.6 232,780 6.0 310,374 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 491,129 12.7 174,648 4.5 N/A N/A Wilson Bank 487,693 12.6 174,586 4.5 252,180 6.5 Tier 1 capital to average assets: Consolidated 491,192 10.7 184,444 4.0 N/A N/A Wilson Bank 487,756 10.6 184,379 4.0 230,474 5.0 Actual Minimum Capital Adequacy For Classification Under Corrective Action Plan as Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2022 Total capital to risk weighted assets: Consolidated $ 512,025 13.5 % $ 303,440 8.0 % $ 379,300 10.0 % Wilson Bank 509,169 13.4 303,334 8.0 379,168 10.0 Tier 1 capital to risk weighted assets: Consolidated 466,076 12.3 227,580 6.0 303,440 8.0 Wilson Bank 463,220 12.2 227,500 6.0 303,333 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 466,061 12.3 170,685 4.5 N/A N/A Wilson Bank 463,205 12.2 170,625 4.5 246,458 6.5 Tier 1 capital to average assets: Consolidated 466,076 11.2 166,712 4.0 N/A N/A Wilson Bank 463,220 11.1 166,648 4.0 208,310 5.0 Dividend Restrictions The Company and the Bank are subject to dividend restrictions set forth by the Tennessee Department of Financial Institutions and federal banking agencies, as applicable. Additional restrictions may |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 8. 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 Collateral dependent loans third 3 Other real estate owned — 3 Mortgage loans held-for-sale 2 Derivative Instruments 2 Other investments third 3 not not The following tables present the financial instruments carried at fair value as of June 30, 2023 December 31, 2022 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) June 30, 2023 Hedged Loans $ 25,624 — 25,624 — Investment securities available-for-sale: U.S. Treasury and other U.S. government agencies 6,540 6,540 — — U.S. Government sponsored enterprises 149,358 — 149,358 — Mortgage-backed securities 414,542 — 414,542 — Asset-backed securities 42,886 — 42,886 — Corporate bonds 2,381 — 2,381 — State and municipal securities 184,134 — 184,134 — Total investment securities available-for-sale 799,841 6,540 793,301 — Mortgage loans held for sale 5,389 — 5,389 — Derivative instruments 4,643 — 4,643 — Other investments 2,047 — — 2,047 Total assets $ 837,544 6,540 828,957 2,047 Derivative instruments $ — — — — Total liabilities $ — — — — December 31, 2022 Hedged Loans $ 25,452 — 25,452 — Investment securities available-for-sale: U.S. Treasury and other U.S. government agencies 6,497 6,497 — — U.S. Government sponsored enterprises 145,212 — 145,212 — Mortgage-backed securities 444,438 — 444,438 — Asset-backed securities 45,250 — 45,250 — Corporate bonds 2,403 — 2,403 — State and municipal securities 179,012 — 179,012 — Total investment securities available-for-sale 822,812 6,497 816,315 — Mortgage loans held for sale 3,355 — 3,355 — Derivative instruments 4,705 — 4,705 — Other investments 1,965 — — 1,965 Total assets $ 858,289 6,497 849,827 1,965 Derivative instruments $ — — — — Total liabilities $ — — — — 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) June 30, 2023 Other real estate owned $ — — — — Collateral dependent loans (¹) 4,887 — — 4,887 Total $ 4,887 — — 4,887 December 31, 2022 Other real estate owned $ — — — — Collateral dependent loans (¹) 638 — — 638 Total $ 638 — — 638 ( 1 As of June 30, 2023 and December 31, 2022 no reserve was recorded on collateral dependent loans. 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 June 30, 2023 December 31, 2022 Valuation Techniques (1) Significant Unobservable Inputs Weighted Average Collateral dependent loans Appraisal Estimated costs to sell 10% Other real estate owned Appraisal Estimated costs to sell 10% ( 1 may 3 not not 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 six June 30, 2023 , there were no 1, 2 3. The table below includes a rollforward of the balance sheet amounts for the six June 30, 2023 2022 3 3 3 3 For the Three Months Ended June 30, 2023 2022 Other Assets Other Liabilities Other Assets Other Liabilities Fair value, April 1 $ 2,007 — $ 2,024 — Total realized gains (losses) included in income 40 — 2 — Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at June 30 — — — — Purchases, issuances and settlements, net — — — — Transfers out of Level 3 — — — — Fair value, June 30 $ 2,047 — $ 2,026 — Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at June 30 $ 40 — $ 2 — For the Six Months Ended June 30, 2023 2022 Other Assets Other Liabilities Other Assets Other Liabilities Fair value, January 1 $ 1,965 — $ 2,034 — Total realized gains (losses) included in income 82 — (8 ) — Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at June 30 — — — — Purchases, issuances and settlements, net — — — — Transfers out of Level 3 — — — — Fair value, June 30 $ 2,047 — $ 2,026 — Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at June 30 $ 82 — $ (8 ) — The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments that are not not June 30, 2023 December 31, 2022 not may Cash and cash equivalents 1. Loans For variable-rate loans that reprice frequently and have no Mortgage servicing rights Deposits and Federal Home Loan Bank borrowings 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 June 30, 2023 December 31, 2022 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) June 30, 2023 Financial assets: Cash and cash equivalents $ 187,669 187,669 187,669 — — Loans, net 3,347,312 3,202,440 — — 3,202,440 Mortgage servicing rights 1,188 1,526 — 1,526 — Financial liabilities: Deposits 4,162,918 3,629,530 — — 3,629,530 December 31, 2022 Financial assets: Cash and cash equivalents $ 104,789 104,789 104,789 — — Loans, net 3,088,344 2,992,161 — — 2,992,161 Mortgage servicing rights 1,065 1,252 1,252 Financial liabilities: Deposits 3,892,705 3,210,581 — — 3,210,581 ( 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 9 - Income Taxes
Note 9 - Income Taxes | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 9. Accounting Standards Codification (“ASC”) 740, Income Taxes not” June 30, 2023 not June 30, 2023 The Company's effective tax rate for the three six June 30, 2023 2022 f 26.14% June 30, 2023 2022 As of and for the six June 30, 2023 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, 2019 2022 December 31, 2020 2022. |
Note 10 - Earnings Per Share
Note 10 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 10. 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 six June 30, 2023 2022 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (Dollars in Thousands Except Share and Per Share Amounts) (Dollars in Thousands Except Share and Per Share Amounts) Basic EPS Computation: Numerator – Earnings available to common stockholders $ 12,389 $ 14,139 $ 26,230 $ 25,512 Denominator – Weighted average number of common shares outstanding 11,576,716 11,339,057 11,560,199 11,307,763 Basic earnings per common share $ 1.07 $ 1.25 $ 2.27 $ 2.26 Diluted EPS Computation: Numerator – Earnings available to common stockholders $ 12,389 $ 14,139 $ 26,230 $ 25,512 Denominator – Weighted average number of common shares outstanding 11,576,716 11,339,057 11,560,199 11,307,763 Dilutive effect of stock options, RSUs and PSUs 30,230 31,198 29,974 31,501 Weighted average diluted common shares outstanding 11,606,946 11,370,255 11,590,173 11,339,264 Diluted earnings per common share $ 1.07 $ 1.24 $ 2.26 $ 2.25 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 11. 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 June 30, 2023 Commitments to extend credit $ 1,138,729,000 Standby letters of credit $ 109,848,000 Allowance For Credit Losses - Off-Balance-Sheet Credit Exposures. 326, No Estimating credit losses on amounts expected to be funded uses the same methodology as described for loans in Note 2 The following table details activity in the allowance for credit losses on off-balance-sheet credit exposures for the six June 30, 2023 2022 (In Thousands) 2023 2022 Beginning balance, January 1 $ 6,136 955 Impact of adopting ASC 326 — 6,195 Credit loss expense (benefit) (2,298 ) 217 Ending balance, June 30, $ 3,838 7,367 The following table details activity in the allowance for credit losses on off-balance-sheet credit exposures for the three June 30, 2023 2022. (In Thousands) 2023 2022 Beginning balance, April 1 $ 4,858 7,975 Impact of adopting ASC 326 — — Credit loss expense (benefit) (1,020 ) (608 ) Ending balance, June 30, $ 3,838 7,367 The Bank originates residential mortgage loans, sells them to third may may 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 June 30, 2023 not |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 12. ASC 855, June 30, 2023 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Nature of Business [Policy Text Block] | Nature of Business June 1, 2022, |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation 10 not 10 December 31, 2022 These consolidated financial statements include the accounts of the Company, the Bank, and Encompass. Significant intercompany transactions and accounts are eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates aterial estimates that are particularly susceptible to significant change in the near term include the determination of the allowance for credit losses, the valuation of deferred tax assets, determination of any impairment of goodwill or other intangibles, the valuation of other real estate (if any), and the fair value of financial instruments. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10 December 31, 2022 . There have been no 10 December 31, 2022 . |
Reclassification, Comparability Adjustment [Policy Text Block] | Accounting Changes, Reclassifications and Restatements January 1, 2022, 2016 13, 326 326 326 326 326 not not In connection with the adoption of ASC 326, |
Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts [Policy Text Block] | Allowance For Credit Losses - Loans 326, not 2 |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Allowance For Credit Losses - Off-Balance-Sheet Credit Exposures 326, No 11 |
Investment, Policy [Policy Text Block] | Securities no Interest income on securities includes amortization of purchase premiums and discounts. Premiums and discounts on securities are generally amortized using the interest method with a constant effective yield without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Premiums on callable securities are amortized to their earliest call date. A security is placed on non-accrual status if (i) principal or interest has been in default for a period of 90 not not |
Allowance for Credit Losses, Securities Available for Sale [Policy Text Block] | Allowance for Credit Losses - Securities Available-for-Sale not not not |
New Accounting Pronouncements, Policy [Policy Text Block] | Newly Issued Not Information about certain recently issued accounting standards updates is presented below. Also refer to Note 1 2022 10 Accounting Standards Update ("ASU") 2022 03, 820 June 2022, 820 December 15, 2023. 2022 03 2022 03 Recently Adopted Accounting Standards ASU 2016 13, “ Financial Instruments - Credit Losses (Topic 326 ” ASU 2016 - 13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. As noted above, effective January 1, 2022 the Company adopted ASU 2016 - 13, which resulted in a $7.6 million decrease to the allowance for credit losses and a $6.2 million increase to the reserve for unfunded commitments, resulting in a $1.0 million increase in retained earnings (net of taxes). See Note 2 – Loans and Allowance for Credit Losses for additional information. ASU 2020 04, 848 March 2020, March 12, 2020 December 31, 2022. December 2022, Accounting Standards Update 2020 04, 848 Accounting Standards Update 2022 06, 848 848, March 12, 2020 December 31, 2024. August 2023. ASU 2022 01, “ Derivatives and Hedging (Topic 815 ” ASU 2022 - 01 was issued to expand the scope of assets eligible for portfolio layer method hedging to include all financial assets. The update also expands the current last-of-layer method that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. The last-of-layer method is renamed the portfolio layer method, because more than the last layer of a portfolio could be hedged. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The adoption of ASU 2022 01 not ASU 2022 02, “ Financial Instruments - Credit Losses (Topic 326 ” ASU 2022 - 02 was issued to respond to feedback received from post-implementation review of Topic 326. The amendments eliminate the troubled debt restructuring (TDR) recognition and measurement guidance and now require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments enhance existing disclosures and include new disclosure requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. To improve consistency for vintage disclosures, the ASU requires that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326 - 20. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The adoption of ASU 2022 02 not Other than those previously discussed, there were no |
Note 2 - Loans and Allowance _2
Note 2 - Loans and Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In Thousands) June 30, 2023 December 31, 2022 Residential 1-4 family real estate $ 900,198 $ 854,970 Commercial and multi-family real estate 1,158,864 1,064,297 Construction, land development and farmland 967,611 879,528 Commercial, industrial and agricultural 126,690 124,603 1-4 family equity lines of credit 180,540 151,032 Consumer and other 96,003 93,332 Total loans before net deferred loan fees 3,429,906 3,167,762 Net deferred loan fees (13,607 ) (14,153 ) Total loans 3,416,299 3,153,609 Less: Allowance for credit losses (43,363 ) (39,813 ) Net loans $ 3,372,936 $ 3,113,796 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (In Thousands) Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total June 30, 2023 Allowance for credit losses - loans: Beginning balance January 1, $ 7,310 15,299 13,305 1,437 1,170 1,292 39,813 Provision for credit losses 911 1,245 877 130 252 625 4,040 Charge-offs — — — — — (732 ) (732 ) Recoveries 10 — 7 — — 225 242 Ending balance $ 8,231 16,544 14,189 1,567 1,422 1,410 43,363 (In Thousands) Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total June 30, 2022 Allowance for credit losses - loans: Beginning balance January 1, $ 9,242 16,846 9,757 1,329 1,098 1,360 39,632 Impact of adopting ASC 326 (3,393 ) (3,433 ) (266 ) 219 (324 ) (367 ) (7,564 ) Provision 432 196 2,199 (13 ) 142 561 3,517 Charge-offs — — — — — (593 ) (593 ) Recoveries 10 — 6 7 — 223 246 Ending balance $ 6,291 13,609 11,696 1,542 916 1,184 35,238 (In Thousands) Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total June 30, 2023 Allowance for credit losses - loans: Beginning balance April 1, $ 7,957 15,686 13,797 1,555 1,224 1,227 41,446 Provision for credit losses 264 858 389 12 198 357 2,078 Charge-offs — — — — — (284 ) (284 ) Recoveries 10 — 3 — — 110 123 Ending balance $ 8,231 16,544 14,189 1,567 1,422 1,410 43,363 (In Thousands) Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total June 30, 2022 Allowance for credit losses - loans: Beginning balance April 1, $ 5,910 14,032 10,396 1,588 857 995 33,778 Provision 379 (423 ) 1,297 (46 ) 59 359 1,625 Charge-offs — — — — — (306 ) (306 ) Recoveries 2 — 3 — — 136 141 Ending balance $ 6,291 13,609 11,696 1,542 916 1,184 35,238 |
Schedule of Amortized Cost Basis of Collateral Dependent Loans [Table Text Block] | In Thousands Real Estate Other Total June 30, 2023 Residential 1-4 family real estate $ 1,956 — 1,956 Commercial and multi-family real estate 2,931 — 2,931 Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — 4,887 — 4,887 In Thousands Real Estate Other Total December 31, 2022 Residential 1-4 family real estate $ 130 — 130 Commercial and multi-family real estate 508 — 508 Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — $ 638 — 638 |
Financing Receivable, Nonaccrual [Table Text Block] | In Thousands June 30, December 31, 2023 2022 Residential 1-4 family real estate $ — $ — Commercial and multi-family real estate — — Construction, land development and farmland — — Commercial, industrial and agricultural — — 1-4 family equity lines of credit — — Consumer and other — — Total $ — $ — |
Financing Receivable, Past Due [Table Text Block] | (In thousands) 30-59 Days Past Due 60-89 Days Past Due Non Accrual and Greater Than 89 Days Past Due Total Non Accrual and Past Due Current Total Loans Recorded Investment Greater Than 89 Days Past Due and Accruing June 30, 2023 Residential 1-4 family real estate $ 841 238 136 1,215 898,983 900,198 $ 136 Commercial and multi-family real estate 480 — — 480 1,158,384 1,158,864 — Construction, land development and farmland 387 — — 387 967,224 967,611 — Commercial, industrial and agricultural 16 12 7 35 126,655 126,690 7 1-4 family equity lines of credit 221 153 — 374 180,166 180,540 — Consumer and other 319 646 41 1,006 94,997 96,003 41 Total $ 2,264 1,049 184 3,497 3,426,409 3,429,906 $ 184 December 31, 2022 Residential 1-4 family real estate $ 2,046 1,080 426 3,552 851,418 854,970 $ 426 Commercial and multi-family real estate 397 1,626 400 2,423 1,061,874 1,064,297 400 Construction, land development and farmland 591 — — 591 878,937 879,528 — Commercial, industrial and agricultural 49 62 — 111 124,492 124,603 — 1-4 family equity lines of credit 74 77 — 151 150,881 151,032 — Consumer and other 403 184 43 630 92,702 93,332 43 Total $ 3,560 3,029 869 7,458 3,160,304 3,167,762 $ 869 |
Financing Receivable, Modified, Past Due [Table Text Block] | (In Thousands) Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Principal Forgiveness Combination Term Extension and Interest Rate Reduction Total Class of Financing Receivable Residential 1-4 family real estate $ — $ 947 $ — $ — $ — $ — 0.11 % Commercial and multi-family real estate — 2,436 — — — — 0.21 % Construction, land development and farmland — — — — — — — % Commercial, industrial and agricultural — — 97 — — — 0.08 % 1-4 family equity lines of credit — — — — — — — % Consumer and other — — — — — — — % Total $ — $ 3,383 $ 97 $ — $ — $ — 0.10 % In Thousands 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due June 30, 2023 Residential 1-4 family real estate $ — $ — $ — $ — Commercial and multi-family real estate — — — — Construction, land development and farmland — — — — Commercial, industrial and agricultural — — — — 1-4 family equity lines of credit — — — — Consumer and other — — — — Total $ — $ — $ — $ — Six Months Ended June 30, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Months of Term Extension Residential 1-4 family real estate $ — — % — Commercial and multi-family real estate — — — Construction, land development and farmland — — — Commercial, industrial and agricultural — — 37 1-4 family equity lines of credit — — — Consumer and other — — — Total $ — — % 37 Three Months Ended June 30, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Months of Term Extension Residential 1-4 family real estate $ — — % — Commercial and multi-family real estate — — — Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — Total $ — — % — In Thousands Six Months Ended June 30, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Residential 1-4 family real estate $ — $ — $ — $ — Commercial and multi-family real estate — — — — Construction, land development and farmland — — — — Commercial, industrial and agricultural — — — — 1-4 family equity lines of credit — — — — Consumer and other — — — — Total $ — $ — $ — $ — In Thousands Three Months Ended June 30, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Residential 1-4 family real estate $ — $ — $ — $ — Commercial and multi-family real estate — — — — Construction, land development and farmland — — — — Commercial, industrial and agricultural — — — — 1-4 family equity lines of credit — — — — Consumer and other — — — — Total $ — $ — $ — $ — |
Financing Receivable Credit Quality Indicators [Table Text Block] | In Thousands Revolving 2023 2022 2021 2020 2019 Prior Loans Total June 30, 2023 Residential 1-4 family real estate Pass $ 85,818 289,151 252,693 98,878 59,129 99,673 11,154 896,496 Special mention — 241 — 881 62 1,482 — 2,666 Substandard — — — — 130 906 — 1,036 Total Residential 1-4 family real estate $ 85,818 289,392 252,693 99,759 59,321 102,061 11,154 900,198 Residential 1-4 family real estate: Current-period gross charge-offs $ — — — — — — — — Commercial and multi-family real estate Pass $ 38,243 283,452 295,110 184,535 96,211 224,059 36,975 1,158,585 Special mention — — — 158 — 36 — 194 Substandard — — — — — 85 — 85 Total Commercial and multi-family real estate $ 38,243 283,452 295,110 184,693 96,211 224,180 36,975 1,158,864 Commercial and multi-family real estate: Current-period gross charge-offs $ — — — — — — — — Construction, land development and farmland Pass $ 128,715 379,396 204,918 31,324 8,567 13,380 201,256 967,556 Special mention — — — — — 55 — 55 Substandard — — — — — — — — Total Construction, land development and farmland $ 128,715 379,396 204,918 31,324 8,567 13,435 201,256 967,611 Construction, land development and farmland: Current-period gross charge-offs $ — — — — — — — — Commercial, industrial and agricultural Pass $ 15,899 35,873 8,892 13,710 17,895 8,363 25,942 126,574 Special mention 97 — — — — — — 97 Substandard — 7 — — — — 12 19 Total Commercial, industrial and agricultural $ 15,996 35,880 8,892 13,710 17,895 8,363 25,954 126,690 Commercial, industrial and agricultural: Current-period gross charge-offs $ — — — — — — — — 1-4 family equity lines of credit Pass $ — — — — — — 180,314 180,314 Special mention — — — — — — 86 86 Substandard — — — — — — 140 140 Total 1-4 family equity lines of credit $ — — — — — — 180,540 180,540 1-4 family equity lines of credit: Current-period gross charge-offs $ — — — — — — — — Consumer and other Pass $ 16,368 20,716 7,815 15,853 5,329 6,805 22,842 95,728 Special mention — 66 83 12 — — — 161 Substandard — 90 9 12 — 3 — 114 Total Consumer and other $ 16,368 20,872 7,907 15,877 5,329 6,808 22,842 96,003 Consumer and other: Current-period gross charge-offs $ 1 105 41 4 — 1 580 732 In Thousands 2023 2022 2021 2020 2019 Prior Revolving Loans Total June 30, 2023 Pass $ 285,043 1,008,588 769,428 344,300 187,131 352,280 478,483 3,425,253 Special mention 97 307 83 1,051 62 1,573 86 3,259 Substandard — 97 9 12 130 994 152 1,394 Total $ 285,140 1,008,992 769,520 345,363 187,323 354,847 478,721 3,429,906 In Thousands Revolving 2022 2021 2020 2019 2018 Prior Loans Total December 31, 2022 Residential 1-4 family real estate: Pass $ 290,315 262,690 106,107 61,984 29,526 81,229 17,751 849,602 Special mention 245 300 885 62 115 1,955 349 3,911 Substandard — — — 131 — 1,326 — 1,457 Total Residential 1-4 family real estate $ 290,560 262,990 106,992 62,177 29,641 84,510 18,100 854,970 Commercial and multi-family real estate: Pass $ 271,403 246,265 161,326 107,908 74,494 166,267 36,342 1,064,005 Special mention — — 162 — — 40 — 202 Substandard — — — — — 90 — 90 Total Commercial and multi-family real estate $ 271,403 246,265 161,488 107,908 74,494 166,397 36,342 1,064,297 Construction, land development and farmland: Pass $ 364,681 237,051 90,341 9,648 5,212 9,445 163,076 879,454 Special mention — — — — — 60 — 60 Substandard — — — — — 14 — 14 Total Construction, land development and farmland $ 364,681 237,051 90,341 9,648 5,212 9,519 163,076 879,528 Commercial, industrial and agricultural: Pass $ 39,222 10,812 15,743 20,441 5,062 4,641 28,567 124,488 Special mention 7 44 17 — — 47 — 115 Substandard — — — — — — — — Total Commercial, industrial and agricultural $ 39,229 10,856 15,760 20,441 5,062 4,688 28,567 124,603 1-4 family equity lines of credit: Pass $ — — — — — — 150,849 150,849 Special mention — — — — — — 67 67 Substandard — — — — — — 116 116 Total 1-4 family equity lines of credit $ — — — — — — 151,032 151,032 Consumer and other: Pass $ 28,487 11,163 18,075 5,995 345 6,757 22,166 92,988 Special mention 74 130 20 2 — — — 226 Substandard 74 19 13 — 11 1 — 118 Total Consumer and other $ 28,635 11,312 18,108 5,997 356 6,758 22,166 93,332 In Thousands 2022 2021 2020 2019 2018 Prior Revolving Loans Total December 31, 2022 Pass $ 994,108 767,981 391,592 205,976 114,639 268,339 418,751 3,161,386 Special mention 326 474 1,084 64 115 2,102 416 4,581 Substandard 74 19 13 131 11 1,431 116 1,795 Total $ 994,508 768,474 392,689 206,171 114,765 271,872 419,283 3,167,762 |
Note 3 - Debt and Equity Secu_2
Note 3 - Debt and Equity Securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Marketable Securities [Table Text Block] | June 30, 2023 Securities Available-For-Sale In Thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Market Value U.S. Treasury and other U.S. government agencies $ 7,370 — 830 6,540 U.S. Government-sponsored enterprises (GSEs) 177,249 — 27,891 149,358 Mortgage-backed securities 485,679 2 71,139 414,542 Asset-backed securities 45,048 30 2,192 42,886 Corporate bonds 2,500 — 119 2,381 Obligations of states and political subdivisions 219,152 — 35,018 184,134 $ 936,998 32 137,189 799,841 December 31, 2022 Securities Available-For-Sale In Thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Market Value U.S. Treasury and other U.S. government agencies $ 7,353 — 856 6,497 U.S. Government-sponsored enterprises (GSEs) 177,261 — 32,049 145,212 Mortgage-backed securities 518,727 1 74,290 444,438 Asset-backed securities 47,538 — 2,288 45,250 Corporate bonds 2,500 — 97 2,403 Obligations of states and political subdivisions 218,936 — 39,924 179,012 $ 972,315 1 149,504 822,812 |
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 $ 5,023 $ 4,985 Due after one year through five years 99,690 88,969 Due after five years through ten years 267,253 226,090 Due after ten years 565,032 479,797 $ 936,998 $ 799,841 |
Schedule of Unrealized Loss on Investments [Table Text Block] | In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total June 30, 2023 Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Available-for-Sale Securities: U.S. Treasury and other U.S. government agencies $ — $ — — $ 6,540 $ 830 3 $ 6,540 $ 830 U.S. Government-sponsored enterprises (GSEs) — — — 149,358 27,891 58 149,358 27,891 Mortgage-backed securities 604 12 5 413,424 71,127 233 414,028 71,139 Asset-backed securities 13,653 757 6 24,238 1,435 22 37,891 2,192 Corporate bonds — — — 2,381 119 1 2,381 119 Obligations of states and political subdivisions 8,054 131 4 176,080 34,887 202 184,134 35,018 $ 22,311 $ 900 15 $ 772,021 $ 136,289 519 $ 794,332 $ 137,189 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total December 31, 2022 Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Number of Securities Included Fair Value Unrealized Losses Available-for-Sale Securities: U.S. Treasury and other U.S. government agencies $ — $ — — $ 6,497 $ 856 — 6,497 $ 856 U.S. Government-sponsored enterprises (GSEs) 9,747 872 4 135,465 31,177 54 145,212 32,049 Mortgage-backed securities 148,441 14,601 113 295,431 59,689 136 443,872 74,290 Asset-backed securities 35,276 1607 21 9,974 681 11 45,250 2,288 Corporate bonds 2,403 97 1 — — — 2,403 97 Obligations of states and political subdivisions 58,567 6,056 76 120,445 33,868 128 179,012 39,924 $ 254,434 $ 23,233 215 $ 567,812 $ 126,271 332 $ 822,246 $ 149,504 |
Note 4 - Derivatives (Tables)
Note 4 - Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Summary of Fair Value Hedge Relationships [Table Text Block] | June 30, 2023 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 6.93 0.65 % 1 month LIBOR $ 30,000 4,458 December 31, 2022 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 7.42 0.65 % 1 month LIBOR $ 30,000 4,520 |
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 June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Loans $ 25,624 25,452 (4,376 ) (4,548 ) |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | In Thousands June 30, 2023 December 31, 2022 Notional Amount Fair Value Notional Amount Fair Value Included in other assets (liabilities): Interest rate contracts for customers $ 7,252 157 6,923 123 Forward contracts related to mortgage loans held-for-sale 7,000 28 6,250 62 |
Interest Rate Swap [Member] | |
Notes Tables | |
Derivative Instruments, Gain (Loss) [Table Text Block] | Six Months Ended June 30, Gain (loss) on fair value hedging relationship 2023 2022 Interest rate swap agreements - loans: Hedged items $ 172 (2,368 ) Derivative designated as hedging instruments (62 ) 2,394 |
Mortgage Banking Derivatives [Member] | |
Notes Tables | |
Derivative Instruments, Gain (Loss) [Table Text Block] | In Thousands June 30, 2023 June 30, 2022 Interest rate contracts for customers $ 34 (467 ) Forward contracts related to mortgage loans held for sale and interest rate contracts (34 ) (28 ) |
Note 5 - Mortgage Servicing R_2
Note 5 - Mortgage Servicing Rights (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Table Text Block] | In Thousands June 30, 2023 December 31, 2022 Mortgage loan portfolios serviced for: FHLMC $ 100,774 $ 85,742 |
Servicing Asset at Amortized Cost [Table Text Block] | In Thousands June 30, 2023 June 30, 2022 Balance at beginning of period $ 1,065 — Servicing rights retained from loans sold 214 1,277 Amortization (91 ) (264 ) Valuation Allowance Provision — (90 ) Balance at end of period $ 1,188 923 Fair value, end of period $ 1,526 923 |
Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] | June 30, 2023 December 31, 2022 Prepayment speed 7.12 % 7.18 % Weighted-average life (in years) 9.06 8.98 Weighted-average note rate 4.70 % 4.34 % Weighted-average discount rate 9.00 % 9.00 % |
Note 6 - Equity Incentive Pla_2
Note 6 - Equity Incentive Plans (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | June 30, 2023 June 30, 2022 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options and SARs outstanding at beginning of period 414,778 $ 55.13 357,254 $ 50.18 Granted 5,000 69.00 114,332 64.06 Exercised (18,540 ) 48.83 (24,601 ) 41.55 Forfeited or expired (5,167 ) 60.35 (1,167 ) 46.81 Outstanding at end of period 396,071 $ 55.53 445,818 $ 54.22 Options and SARs exercisable at June 30 190,510 $ 48.50 173,425 $ 43.27 |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Restricted Share Awards Restricted Share Units Shares Weighted Average Grant-Date Fair Value Shares Weighted Average Grant-Date Fair Value Outstanding at December 31, 2022 1,075 $ 64.03 — $ — Granted — — 14,833 69.00 Vested — — — — Forfeited — — — — Outstanding at June 30, 2023 1,075 $ 64.03 14,833 $ 69.00 |
Performance-based Vesting Restricted Stock Units [Member] | |
Notes Tables | |
Share-Based Payment Arrangement, Activity [Table Text Block] | Performance Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 — $ — Granted 1,107 67.85 Vested — — Forfeited or expired — — Outstanding at June 30, 2023 1,107 $ 67.85 Grant Year Grant Price Applicable Performance Period Period in which units to be settled PSUs Outstanding 2023 $ 67.85 2023 2025 2024 2026 1,107 |
Note 7 - Regulatory Capital (Ta
Note 7 - Regulatory Capital (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum Capital Adequacy For Classification Under Corrective Action Plan as Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) June 30, 2023 Total capital to risk weighted assets: Consolidated $ 538,392 13.9 % $ 310,487 8.0 % $ 388,109 10.0 % Wilson Bank 534,956 13.8 310,376 8.0 387,970 10.0 Tier 1 capital to risk weighted assets: Consolidated 491,192 12.7 232,864 6.0 310,486 8.0 Wilson Bank 487,756 12.6 232,780 6.0 310,374 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 491,129 12.7 174,648 4.5 N/A N/A Wilson Bank 487,693 12.6 174,586 4.5 252,180 6.5 Tier 1 capital to average assets: Consolidated 491,192 10.7 184,444 4.0 N/A N/A Wilson Bank 487,756 10.6 184,379 4.0 230,474 5.0 Actual Minimum Capital Adequacy For Classification Under Corrective Action Plan as Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2022 Total capital to risk weighted assets: Consolidated $ 512,025 13.5 % $ 303,440 8.0 % $ 379,300 10.0 % Wilson Bank 509,169 13.4 303,334 8.0 379,168 10.0 Tier 1 capital to risk weighted assets: Consolidated 466,076 12.3 227,580 6.0 303,440 8.0 Wilson Bank 463,220 12.2 227,500 6.0 303,333 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 466,061 12.3 170,685 4.5 N/A N/A Wilson Bank 463,205 12.2 170,625 4.5 246,458 6.5 Tier 1 capital to average assets: Consolidated 466,076 11.2 166,712 4.0 N/A N/A Wilson Bank 463,220 11.1 166,648 4.0 208,310 5.0 |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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) June 30, 2023 Hedged Loans $ 25,624 — 25,624 — Investment securities available-for-sale: U.S. Treasury and other U.S. government agencies 6,540 6,540 — — U.S. Government sponsored enterprises 149,358 — 149,358 — Mortgage-backed securities 414,542 — 414,542 — Asset-backed securities 42,886 — 42,886 — Corporate bonds 2,381 — 2,381 — State and municipal securities 184,134 — 184,134 — Total investment securities available-for-sale 799,841 6,540 793,301 — Mortgage loans held for sale 5,389 — 5,389 — Derivative instruments 4,643 — 4,643 — Other investments 2,047 — — 2,047 Total assets $ 837,544 6,540 828,957 2,047 Derivative instruments $ — — — — Total liabilities $ — — — — December 31, 2022 Hedged Loans $ 25,452 — 25,452 — Investment securities available-for-sale: U.S. Treasury and other U.S. government agencies 6,497 6,497 — — U.S. Government sponsored enterprises 145,212 — 145,212 — Mortgage-backed securities 444,438 — 444,438 — Asset-backed securities 45,250 — 45,250 — Corporate bonds 2,403 — 2,403 — State and municipal securities 179,012 — 179,012 — Total investment securities available-for-sale 822,812 6,497 816,315 — Mortgage loans held for sale 3,355 — 3,355 — Derivative instruments 4,705 — 4,705 — Other investments 1,965 — — 1,965 Total assets $ 858,289 6,497 849,827 1,965 Derivative instruments $ — — — — Total liabilities $ — — — — |
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) June 30, 2023 Other real estate owned $ — — — — Collateral dependent loans (¹) 4,887 — — 4,887 Total $ 4,887 — — 4,887 December 31, 2022 Other real estate owned $ — — — — Collateral dependent loans (¹) 638 — — 638 Total $ 638 — — 638 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Valuation Techniques (1) Significant Unobservable Inputs Weighted Average Collateral dependent loans Appraisal Estimated costs to sell 10% Other real estate owned Appraisal Estimated costs to sell 10% |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | For the Three Months Ended June 30, 2023 2022 Other Assets Other Liabilities Other Assets Other Liabilities Fair value, April 1 $ 2,007 — $ 2,024 — Total realized gains (losses) included in income 40 — 2 — Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at June 30 — — — — Purchases, issuances and settlements, net — — — — Transfers out of Level 3 — — — — Fair value, June 30 $ 2,047 — $ 2,026 — Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at June 30 $ 40 — $ 2 — For the Six Months Ended June 30, 2023 2022 Other Assets Other Liabilities Other Assets Other Liabilities Fair value, January 1 $ 1,965 — $ 2,034 — Total realized gains (losses) included in income 82 — (8 ) — Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at June 30 — — — — Purchases, issuances and settlements, net — — — — Transfers out of Level 3 — — — — Fair value, June 30 $ 2,047 — $ 2,026 — Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at June 30 $ 82 — $ (8 ) — |
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) June 30, 2023 Financial assets: Cash and cash equivalents $ 187,669 187,669 187,669 — — Loans, net 3,347,312 3,202,440 — — 3,202,440 Mortgage servicing rights 1,188 1,526 — 1,526 — Financial liabilities: Deposits 4,162,918 3,629,530 — — 3,629,530 December 31, 2022 Financial assets: Cash and cash equivalents $ 104,789 104,789 104,789 — — Loans, net 3,088,344 2,992,161 — — 2,992,161 Mortgage servicing rights 1,065 1,252 1,252 Financial liabilities: Deposits 3,892,705 3,210,581 — — 3,210,581 |
Note 10 - Earnings Per Share (T
Note 10 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (Dollars in Thousands Except Share and Per Share Amounts) (Dollars in Thousands Except Share and Per Share Amounts) Basic EPS Computation: Numerator – Earnings available to common stockholders $ 12,389 $ 14,139 $ 26,230 $ 25,512 Denominator – Weighted average number of common shares outstanding 11,576,716 11,339,057 11,560,199 11,307,763 Basic earnings per common share $ 1.07 $ 1.25 $ 2.27 $ 2.26 Diluted EPS Computation: Numerator – Earnings available to common stockholders $ 12,389 $ 14,139 $ 26,230 $ 25,512 Denominator – Weighted average number of common shares outstanding 11,576,716 11,339,057 11,560,199 11,307,763 Dilutive effect of stock options, RSUs and PSUs 30,230 31,198 29,974 31,501 Weighted average diluted common shares outstanding 11,606,946 11,370,255 11,590,173 11,339,264 Diluted earnings per common share $ 1.07 $ 1.24 $ 2.26 $ 2.25 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingent Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, off-Balance-Sheet Risks [Table Text Block] | Commitments to extend credit $ 1,138,729,000 Standby letters of credit $ 109,848,000 |
Off-Balance-Sheet, Credit Loss, Liability [Table Text Block] | (In Thousands) 2023 2022 Beginning balance, January 1 $ 6,136 955 Impact of adopting ASC 326 — 6,195 Credit loss expense (benefit) (2,298 ) 217 Ending balance, June 30, $ 3,838 7,367 (In Thousands) 2023 2022 Beginning balance, April 1 $ 4,858 7,975 Impact of adopting ASC 326 — — Credit loss expense (benefit) (1,020 ) (608 ) Ending balance, June 30, $ 3,838 7,367 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2022 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Jun. 01, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Off-Balance-Sheet, Credit Loss, Liability, Ending Balance | $ 3,838 | $ 4,858 | $ 6,136 | $ 7,367 | $ 7,975 | $ 955 | ||
Retained Earnings (Accumulated Deficit), Total | $ 343,250 | 325,625 | ||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||||
Off-Balance-Sheet, Credit Loss, Liability, Ending Balance | $ 0 | $ 0 | $ 0 | $ 6,195 | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease), Total | $ (7,600) | |||||||
Retained Earnings (Accumulated Deficit), Total | 1,000 | |||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | ||||||||
Off-Balance-Sheet, Credit Loss, Liability, Ending Balance | $ 6,200 | |||||||
Encompass Home Lending, LLC [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 51% |
Note 2 - Loans and Allowance _3
Note 2 - Loans and Allowance for Credit Losses (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 0 | $ 11,000 |
Potential Problem Loans | $ 4,700,000 | $ 6,400,000 |
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 Credit Losses - Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Loans, gross | $ 3,429,906 | $ 3,167,762 | ||||
Net deferred loan fees | (13,607) | (14,153) | ||||
Total loans | 3,416,299 | 3,153,609 | ||||
Less: Allowance for credit losses | (43,363) | $ (41,446) | (39,813) | $ (35,238) | $ (33,778) | $ (39,632) |
Net loans | 3,372,936 | 3,113,796 | ||||
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||||||
Loans, gross | 900,198 | 854,970 | ||||
Total loans | 900,198 | 854,970 | ||||
Less: Allowance for credit losses | (8,231) | (7,957) | (7,310) | (6,291) | (5,910) | (9,242) |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||||||
Loans, gross | 1,158,864 | 1,064,297 | ||||
Total loans | 1,158,864 | 1,064,297 | ||||
Less: Allowance for credit losses | (16,544) | (15,686) | (15,299) | (13,609) | (14,032) | (16,846) |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||||||
Loans, gross | 967,611 | 879,528 | ||||
Total loans | 967,611 | 879,528 | ||||
Less: Allowance for credit losses | (14,189) | (13,797) | (13,305) | (11,696) | (10,396) | (9,757) |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||||||
Loans, gross | 180,540 | 151,032 | ||||
Total loans | 180,540 | 151,032 | ||||
Less: Allowance for credit losses | (1,422) | (1,224) | (1,170) | (916) | (857) | (1,098) |
Commercial, Industrial and Agricultural Portfolio [Member] | ||||||
Loans, gross | 126,690 | 124,603 | ||||
Total loans | 126,690 | 124,603 | ||||
Less: Allowance for credit losses | (1,567) | (1,555) | (1,437) | (1,542) | (1,588) | (1,329) |
Consumer Portfolio Segment [Member] | ||||||
Loans, gross | 96,003 | 93,332 | ||||
Total loans | 96,003 | 93,332 | ||||
Less: Allowance for credit losses | $ (1,410) | $ (1,227) | $ (1,292) | $ (1,184) | $ (995) | $ (1,360) |
Note 2 - Loans and Allowance _5
Note 2 - Loans and Allowance for Credit Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Balance | $ 41,446 | $ 33,778 | $ 39,813 | $ 39,632 |
Provision for credit losses - loans | 2,078 | 1,625 | 4,040 | 3,517 |
Charge-offs | (284) | (306) | (732) | (593) |
Recoveries | 123 | 141 | 242 | 246 |
Balance | 43,363 | 35,238 | 43,363 | 35,238 |
Provision | 2,078 | 1,625 | 4,040 | 3,517 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | (7,564) | |||
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||||
Balance | 7,957 | 5,910 | 7,310 | 9,242 |
Provision for credit losses - loans | 264 | 379 | 911 | 432 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 10 | 2 | 10 | 10 |
Balance | 8,231 | 6,291 | 8,231 | 6,291 |
Provision | 264 | 379 | 911 | 432 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | (3,393) | |||
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||||
Balance | 15,686 | 14,032 | 15,299 | 16,846 |
Provision for credit losses - loans | 858 | (423) | 1,245 | 196 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Balance | 16,544 | 13,609 | 16,544 | 13,609 |
Provision | 858 | (423) | 1,245 | 196 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | (3,433) | |||
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||||
Balance | 13,797 | 10,396 | 13,305 | 9,757 |
Provision for credit losses - loans | 389 | 1,297 | 877 | 2,199 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 3 | 3 | 7 | 6 |
Balance | 14,189 | 11,696 | 14,189 | 11,696 |
Provision | 389 | 1,297 | 877 | 2,199 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | (266) | |||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||||
Balance | 1,224 | 857 | 1,170 | 1,098 |
Provision for credit losses - loans | 198 | 59 | 252 | 142 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Balance | 1,422 | 916 | 1,422 | 916 |
Provision | 198 | 59 | 252 | 142 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | (324) | |||
Commercial, Industrial and Agricultural Portfolio [Member] | ||||
Balance | 1,555 | 1,588 | 1,437 | 1,329 |
Provision for credit losses - loans | 12 | (46) | 130 | (13) |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 7 |
Balance | 1,567 | 1,542 | 1,567 | 1,542 |
Provision | 12 | (46) | 130 | (13) |
Commercial, Industrial and Agricultural Portfolio [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | 219 | |||
Consumer Portfolio Segment [Member] | ||||
Balance | 1,227 | 995 | 1,292 | 1,360 |
Provision for credit losses - loans | 357 | 359 | 625 | 561 |
Charge-offs | (284) | (306) | (732) | (593) |
Recoveries | 110 | 136 | 225 | 223 |
Balance | 1,410 | 1,184 | 1,410 | 1,184 |
Provision | $ 357 | $ 359 | $ 625 | 561 |
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | $ (367) |
Note 2 - Loans and Allowance _6
Note 2 - Loans and Allowance for Credit Losses - Amortized Cost Bases of Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Real Estate [Member] | ||
Loans | $ 4,887 | $ 638 |
Other Collateral [Member] | ||
Loans | 0 | 0 |
Collateral Pledged [Member] | ||
Loans | 4,887 | 638 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Real Estate [Member] | ||
Loans | 1,956 | 130 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Other Collateral [Member] | ||
Loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Collateral Pledged [Member] | ||
Loans | 1,956 | 130 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Real Estate [Member] | ||
Loans | 2,931 | 508 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Other Collateral [Member] | ||
Loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Collateral Pledged [Member] | ||
Loans | 2,931 | 508 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Real Estate [Member] | ||
Loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Other Collateral [Member] | ||
Loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Collateral Pledged [Member] | ||
Loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Real Estate [Member] | ||
Loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Other Collateral [Member] | ||
Loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Collateral Pledged [Member] | ||
Loans | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Real Estate [Member] | ||
Loans | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Other Collateral [Member] | ||
Loans | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Collateral Pledged [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Real Estate [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Other Collateral [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | ||
Loans | $ 0 | $ 0 |
Note 2 - Loans and Allowance _7
Note 2 - Loans and Allowance for Credit Losses - Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Loans on Nonaccrual Status | $ 0 | $ 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans on Nonaccrual Status | $ 0 | $ 0 |
Note 2 - Loans and Allowance _8
Note 2 - Loans and Allowance for Credit Losses - Age Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Loans, gross | $ 3,429,906 | $ 3,167,762 |
Recorded Investment Greater Than 90 Days and Accruing | 184 | 869 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 2,264 | 3,560 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 1,049 | 3,029 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 184 | 869 |
Financial Asset, Past Due [Member] | ||
Loans, gross | 3,497 | 7,458 |
Financial Asset, Not Past Due [Member] | ||
Loans, gross | 3,426,409 | 3,160,304 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
Loans, gross | 900,198 | 854,970 |
Recorded Investment Greater Than 90 Days and Accruing | 136 | 426 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 841 | 2,046 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 238 | 1,080 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 136 | 426 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 1,215 | 3,552 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 898,983 | 851,418 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||
Loans, gross | 1,158,864 | 1,064,297 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 400 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 480 | 397 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 0 | 1,626 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 0 | 400 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 480 | 2,423 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 1,158,384 | 1,061,874 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Loans, gross | 967,611 | 879,528 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 387 | 591 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 387 | 591 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 967,224 | 878,937 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans, gross | 180,540 | 151,032 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 221 | 74 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 153 | 77 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 374 | 151 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 180,166 | 150,881 |
Commercial, Industrial and Agricultural Portfolio [Member] | ||
Loans, gross | 126,690 | 124,603 |
Recorded Investment Greater Than 90 Days and Accruing | 7 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 16 | 49 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 12 | 62 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 7 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 35 | 111 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 126,655 | 124,492 |
Consumer Portfolio Segment [Member] | ||
Loans, gross | 96,003 | 93,332 |
Recorded Investment Greater Than 90 Days and Accruing | 41 | 43 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 319 | 403 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 646 | 184 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 41 | 43 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 1,006 | 630 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | $ 94,997 | $ 92,702 |
Note 2 - Loans and Allowance _9
Note 2 - Loans and Allowance for Credit Losses - Modified Financing Receivables (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2023 USD ($) | Jun. 30, 2023 USD ($) | |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modified loans | $ 0 | $ 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Financial Asset, Past Due [Member] | ||
Modified loans | $ 0 | $ 0 |
Loans Receivable [Member] | ||
Percentage of financing receivables | 0.10% | |
Weighted average interest rate reduction | 0% | 0% |
Weighted average term extension (Month) | 37 months | |
Payment Deferral [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | $ 3,383 | |
Modified loans | $ 0 | 0 |
Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Extended Maturity [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 97 | |
Modified loans | 0 | 0 |
Contractual Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Extended Maturity and Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Extended Maturity and Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, Past Due [Member] | ||
Modified loans | $ 0 | $ 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Loans Receivable [Member] | ||
Percentage of financing receivables | 0.11% | |
Weighted average interest rate reduction | 0% | 0% |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Payment Deferral [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | $ 947 | |
Modified loans | $ 0 | 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Extended Maturity [Member] | Loans Receivable [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Contractual Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, Past Due [Member] | ||
Modified loans | $ 0 | $ 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Loans Receivable [Member] | ||
Percentage of financing receivables | 0.21% | |
Weighted average interest rate reduction | 0% | 0% |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Payment Deferral [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | $ 2,436 | |
Modified loans | $ 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Extended Maturity [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Contractual Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Extended Maturity and Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Extended Maturity and Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, Past Due [Member] | ||
Modified loans | $ 0 | $ 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Loans Receivable [Member] | ||
Percentage of financing receivables | 0% | |
Weighted average interest rate reduction | 0% | 0% |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Payment Deferral [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | $ 0 | |
Modified loans | $ 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Extended Maturity [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Contractual Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Extended Maturity and Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Extended Maturity and Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Past Due [Member] | ||
Modified loans | $ 0 | $ 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Loans Receivable [Member] | ||
Percentage of financing receivables | 0% | |
Weighted average interest rate reduction | 0% | 0% |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Payment Deferral [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | $ 0 | |
Modified loans | $ 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Extended Maturity [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Contractual Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Extended Maturity and Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Extended Maturity and Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, Past Due [Member] | ||
Modified loans | $ 0 | $ 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Loans Receivable [Member] | ||
Percentage of financing receivables | 0.08% | |
Weighted average interest rate reduction | 0% | 0% |
Weighted average term extension (Month) | 37 months | |
Commercial, Industrial and Agricultural Portfolio [Member] | Payment Deferral [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | $ 0 | |
Modified loans | $ 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Extended Maturity [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 97 | |
Modified loans | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Contractual Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Extended Maturity and Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Commercial, Industrial and Agricultural Portfolio [Member] | Extended Maturity and Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modified loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Modified loans | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | Loans Receivable [Member] | ||
Percentage of financing receivables | 0% | |
Weighted average interest rate reduction | 0% | 0% |
Consumer Portfolio Segment [Member] | Payment Deferral [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | $ 0 | |
Modified loans | $ 0 | 0 |
Consumer Portfolio Segment [Member] | Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Modified loans | $ 0 | 0 |
Consumer Portfolio Segment [Member] | Extended Maturity and Principal Forgiveness [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | 0 | |
Consumer Portfolio Segment [Member] | Extended Maturity and Interest Rate Reduction [Member] | Loans Receivable [Member] | ||
Financing receivable, modification amount | $ 0 |
Note 2 - Loans and Allowance_10
Note 2 - Loans and Allowance for Credit Losses - Loan Portfolio by Risk Rating (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Originated current year | $ 285,140 | $ 285,140 | $ 994,508 | ||
Originated prior year | 1,008,992 | 1,008,992 | 768,474 | ||
Originated two years prior year | 769,520 | 769,520 | 392,689 | ||
Originated three years prior year | 345,363 | 345,363 | 206,171 | ||
Originated four years prior year | 187,323 | 187,323 | 114,765 | ||
Prior | 354,847 | 354,847 | 271,872 | ||
Revolving loans | 478,721 | 478,721 | 419,283 | ||
Loans, before allowance | 3,416,299 | 3,416,299 | 3,153,609 | ||
Current-period gross charge-offs | 284 | $ 306 | 732 | $ 593 | |
Loans, gross | 3,429,906 | 3,429,906 | 3,167,762 | ||
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | |||||
Originated current year | 85,818 | 85,818 | 290,560 | ||
Originated prior year | 289,392 | 289,392 | 262,990 | ||
Originated two years prior year | 252,693 | 252,693 | 106,992 | ||
Originated three years prior year | 99,759 | 99,759 | 62,177 | ||
Originated four years prior year | 59,321 | 59,321 | 29,641 | ||
Prior | 102,061 | 102,061 | 84,510 | ||
Revolving loans | 11,154 | 11,154 | 18,100 | ||
Loans, before allowance | 900,198 | 900,198 | 854,970 | ||
Originated current year, charge offs | 0 | ||||
Originated prior year, charge offs | 0 | ||||
Originated two years prior year, charge offs | 0 | ||||
Originated three years prior year, charge offs | 0 | ||||
Originated four years prior year, charge offs | 0 | ||||
Prior, charge offs | 0 | ||||
Revolving loans, charge offs | 0 | ||||
Current-period gross charge-offs | 0 | 0 | 0 | 0 | |
Loans, gross | 900,198 | 900,198 | 854,970 | ||
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | |||||
Originated current year | 38,243 | 38,243 | 271,403 | ||
Originated prior year | 283,452 | 283,452 | 246,265 | ||
Originated two years prior year | 295,110 | 295,110 | 161,488 | ||
Originated three years prior year | 184,693 | 184,693 | 107,908 | ||
Originated four years prior year | 96,211 | 96,211 | 74,494 | ||
Prior | 224,180 | 224,180 | 166,397 | ||
Revolving loans | 36,975 | 36,975 | 36,342 | ||
Loans, before allowance | 1,158,864 | 1,158,864 | 1,064,297 | ||
Originated current year, charge offs | 0 | ||||
Originated prior year, charge offs | 0 | ||||
Originated two years prior year, charge offs | 0 | ||||
Originated three years prior year, charge offs | 0 | ||||
Originated four years prior year, charge offs | 0 | ||||
Prior, charge offs | 0 | ||||
Revolving loans, charge offs | 0 | ||||
Current-period gross charge-offs | 0 | 0 | 0 | 0 | |
Loans, gross | 1,158,864 | 1,158,864 | 1,064,297 | ||
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | |||||
Originated current year | 128,715 | 128,715 | 364,681 | ||
Originated prior year | 379,396 | 379,396 | 237,051 | ||
Originated two years prior year | 204,918 | 204,918 | 90,341 | ||
Originated three years prior year | 31,324 | 31,324 | 9,648 | ||
Originated four years prior year | 8,567 | 8,567 | 5,212 | ||
Prior | 13,435 | 13,435 | 9,519 | ||
Revolving loans | 201,256 | 201,256 | 163,076 | ||
Loans, before allowance | 967,611 | 967,611 | 879,528 | ||
Originated current year, charge offs | 0 | ||||
Originated prior year, charge offs | 0 | ||||
Originated two years prior year, charge offs | 0 | ||||
Originated three years prior year, charge offs | 0 | ||||
Originated four years prior year, charge offs | 0 | ||||
Prior, charge offs | 0 | ||||
Revolving loans, charge offs | 0 | ||||
Current-period gross charge-offs | 0 | 0 | 0 | 0 | |
Loans, gross | 967,611 | 967,611 | 879,528 | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 0 | 0 | 0 | ||
Originated two years prior year | 0 | 0 | 0 | ||
Originated three years prior year | 0 | 0 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving loans | 180,540 | 180,540 | 151,032 | ||
Loans, before allowance | 180,540 | 180,540 | 151,032 | ||
Originated current year, charge offs | 0 | ||||
Originated prior year, charge offs | 0 | ||||
Originated two years prior year, charge offs | 0 | ||||
Originated three years prior year, charge offs | 0 | ||||
Originated four years prior year, charge offs | 0 | ||||
Prior, charge offs | 0 | ||||
Revolving loans, charge offs | 0 | ||||
Current-period gross charge-offs | 0 | 0 | 0 | 0 | |
Loans, gross | 180,540 | 180,540 | 151,032 | ||
Commercial, Industrial and Agricultural Portfolio [Member] | |||||
Originated current year | 15,996 | 15,996 | 39,229 | ||
Originated prior year | 35,880 | 35,880 | 10,856 | ||
Originated two years prior year | 8,892 | 8,892 | 15,760 | ||
Originated three years prior year | 13,710 | 13,710 | 20,441 | ||
Originated four years prior year | 17,895 | 17,895 | 5,062 | ||
Prior | 8,363 | 8,363 | 4,688 | ||
Revolving loans | 25,954 | 25,954 | 28,567 | ||
Loans, before allowance | 126,690 | 126,690 | 124,603 | ||
Originated current year, charge offs | 0 | ||||
Originated prior year, charge offs | 0 | ||||
Originated two years prior year, charge offs | 0 | ||||
Originated three years prior year, charge offs | 0 | ||||
Originated four years prior year, charge offs | 0 | ||||
Prior, charge offs | 0 | ||||
Revolving loans, charge offs | 0 | ||||
Current-period gross charge-offs | 0 | 0 | 0 | 0 | |
Loans, gross | 126,690 | 126,690 | 124,603 | ||
Consumer Portfolio Segment [Member] | |||||
Originated current year | 16,368 | 16,368 | 28,635 | ||
Originated prior year | 20,872 | 20,872 | 11,312 | ||
Originated two years prior year | 7,907 | 7,907 | 18,108 | ||
Originated three years prior year | 15,877 | 15,877 | 5,997 | ||
Originated four years prior year | 5,329 | 5,329 | 356 | ||
Prior | 6,808 | 6,808 | 6,758 | ||
Revolving loans | 22,842 | 22,842 | 22,166 | ||
Loans, before allowance | 96,003 | 96,003 | 93,332 | ||
Originated current year, charge offs | 1 | ||||
Originated prior year, charge offs | 105 | ||||
Originated two years prior year, charge offs | 41 | ||||
Originated three years prior year, charge offs | 4 | ||||
Originated four years prior year, charge offs | 0 | ||||
Prior, charge offs | 1 | ||||
Revolving loans, charge offs | 580 | ||||
Current-period gross charge-offs | 284 | $ 306 | 732 | $ 593 | |
Loans, gross | 96,003 | 96,003 | 93,332 | ||
Pass [Member] | |||||
Originated current year | 285,043 | 285,043 | 994,108 | ||
Originated prior year | 1,008,588 | 1,008,588 | 767,981 | ||
Originated two years prior year | 769,428 | 769,428 | 391,592 | ||
Originated three years prior year | 344,300 | 344,300 | 205,976 | ||
Originated four years prior year | 187,131 | 187,131 | 114,639 | ||
Prior | 352,280 | 352,280 | 268,339 | ||
Revolving loans | 478,483 | 478,483 | 418,751 | ||
Loans, gross | 3,425,253 | 3,425,253 | 3,161,386 | ||
Pass [Member] | Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | |||||
Originated current year | 85,818 | 85,818 | 290,315 | ||
Originated prior year | 289,151 | 289,151 | 262,690 | ||
Originated two years prior year | 252,693 | 252,693 | 106,107 | ||
Originated three years prior year | 98,878 | 98,878 | 61,984 | ||
Originated four years prior year | 59,129 | 59,129 | 29,526 | ||
Prior | 99,673 | 99,673 | 81,229 | ||
Revolving loans | 11,154 | 11,154 | 17,751 | ||
Loans, before allowance | 896,496 | 896,496 | 849,602 | ||
Pass [Member] | Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | |||||
Originated current year | 38,243 | 38,243 | 271,403 | ||
Originated prior year | 283,452 | 283,452 | 246,265 | ||
Originated two years prior year | 295,110 | 295,110 | 161,326 | ||
Originated three years prior year | 184,535 | 184,535 | 107,908 | ||
Originated four years prior year | 96,211 | 96,211 | 74,494 | ||
Prior | 224,059 | 224,059 | 166,267 | ||
Revolving loans | 36,975 | 36,975 | 36,342 | ||
Loans, before allowance | 1,158,585 | 1,158,585 | 1,064,005 | ||
Pass [Member] | Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | |||||
Originated current year | 128,715 | 128,715 | 364,681 | ||
Originated prior year | 379,396 | 379,396 | 237,051 | ||
Originated two years prior year | 204,918 | 204,918 | 90,341 | ||
Originated three years prior year | 31,324 | 31,324 | 9,648 | ||
Originated four years prior year | 8,567 | 8,567 | 5,212 | ||
Prior | 13,380 | 13,380 | 9,445 | ||
Revolving loans | 201,256 | 201,256 | 163,076 | ||
Loans, before allowance | 967,556 | 967,556 | 879,454 | ||
Pass [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 0 | 0 | 0 | ||
Originated two years prior year | 0 | 0 | 0 | ||
Originated three years prior year | 0 | 0 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving loans | 180,314 | 180,314 | 150,849 | ||
Loans, before allowance | 180,314 | 180,314 | 150,849 | ||
Pass [Member] | Commercial, Industrial and Agricultural Portfolio [Member] | |||||
Originated current year | 15,899 | 15,899 | 39,222 | ||
Originated prior year | 35,873 | 35,873 | 10,812 | ||
Originated two years prior year | 8,892 | 8,892 | 15,743 | ||
Originated three years prior year | 13,710 | 13,710 | 20,441 | ||
Originated four years prior year | 17,895 | 17,895 | 5,062 | ||
Prior | 8,363 | 8,363 | 4,641 | ||
Revolving loans | 25,942 | 25,942 | 28,567 | ||
Loans, before allowance | 126,574 | 126,574 | 124,488 | ||
Pass [Member] | Consumer Portfolio Segment [Member] | |||||
Originated current year | 16,368 | 16,368 | 28,487 | ||
Originated prior year | 20,716 | 20,716 | 11,163 | ||
Originated two years prior year | 7,815 | 7,815 | 18,075 | ||
Originated three years prior year | 15,853 | 15,853 | 5,995 | ||
Originated four years prior year | 5,329 | 5,329 | 345 | ||
Prior | 6,805 | 6,805 | 6,757 | ||
Revolving loans | 22,842 | 22,842 | 22,166 | ||
Loans, before allowance | 95,728 | 95,728 | 92,988 | ||
Special Mention [Member] | |||||
Originated current year | 97 | 97 | 326 | ||
Originated prior year | 307 | 307 | 474 | ||
Originated two years prior year | 83 | 83 | 1,084 | ||
Originated three years prior year | 1,051 | 1,051 | 64 | ||
Originated four years prior year | 62 | 62 | 115 | ||
Prior | 1,573 | 1,573 | 2,102 | ||
Revolving loans | 86 | 86 | 416 | ||
Loans, gross | 3,259 | 3,259 | 4,581 | ||
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | |||||
Originated current year | 0 | 0 | 245 | ||
Originated prior year | 241 | 241 | 300 | ||
Originated two years prior year | 0 | 0 | 885 | ||
Originated three years prior year | 881 | 881 | 62 | ||
Originated four years prior year | 62 | 62 | 115 | ||
Prior | 1,482 | 1,482 | 1,955 | ||
Revolving loans | 0 | 0 | 349 | ||
Loans, before allowance | 2,666 | 2,666 | 3,911 | ||
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 0 | 0 | 0 | ||
Originated two years prior year | 0 | 0 | 162 | ||
Originated three years prior year | 158 | 158 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 36 | 36 | 40 | ||
Revolving loans | 0 | 0 | 0 | ||
Loans, before allowance | 194 | 194 | 202 | ||
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 0 | 0 | 0 | ||
Originated two years prior year | 0 | 0 | 0 | ||
Originated three years prior year | 0 | 0 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 55 | 55 | 60 | ||
Revolving loans | 0 | 0 | 0 | ||
Loans, before allowance | 55 | 55 | 60 | ||
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 0 | 0 | 0 | ||
Originated two years prior year | 0 | 0 | 0 | ||
Originated three years prior year | 0 | 0 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving loans | 86 | 86 | 67 | ||
Loans, before allowance | 86 | 86 | 67 | ||
Special Mention [Member] | Commercial, Industrial and Agricultural Portfolio [Member] | |||||
Originated current year | 97 | 97 | 7 | ||
Originated prior year | 0 | 0 | 44 | ||
Originated two years prior year | 0 | 0 | 17 | ||
Originated three years prior year | 0 | 0 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 0 | 0 | 47 | ||
Revolving loans | 0 | 0 | 0 | ||
Loans, before allowance | 97 | 97 | 115 | ||
Special Mention [Member] | Consumer Portfolio Segment [Member] | |||||
Originated current year | 0 | 0 | 74 | ||
Originated prior year | 66 | 66 | 130 | ||
Originated two years prior year | 83 | 83 | 20 | ||
Originated three years prior year | 12 | 12 | 2 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving loans | 0 | 0 | 0 | ||
Loans, before allowance | 161 | 161 | 226 | ||
Substandard [Member] | |||||
Originated current year | 0 | 0 | 74 | ||
Originated prior year | 97 | 97 | 19 | ||
Originated two years prior year | 9 | 9 | 13 | ||
Originated three years prior year | 12 | 12 | 131 | ||
Originated four years prior year | 130 | 130 | 11 | ||
Prior | 994 | 994 | 1,431 | ||
Revolving loans | 152 | 152 | 116 | ||
Loans, gross | 1,394 | 1,394 | 1,795 | ||
Substandard [Member] | Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 0 | 0 | 0 | ||
Originated two years prior year | 0 | 0 | 0 | ||
Originated three years prior year | 0 | 0 | 131 | ||
Originated four years prior year | 130 | 130 | 0 | ||
Prior | 906 | 906 | 1,326 | ||
Revolving loans | 0 | 0 | 0 | ||
Loans, before allowance | 1,036 | 1,036 | 1,457 | ||
Substandard [Member] | Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 0 | 0 | 0 | ||
Originated two years prior year | 0 | 0 | 0 | ||
Originated three years prior year | 0 | 0 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 85 | 85 | 90 | ||
Revolving loans | 0 | 0 | 0 | ||
Loans, before allowance | 85 | 85 | 90 | ||
Substandard [Member] | Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 0 | 0 | 0 | ||
Originated two years prior year | 0 | 0 | 0 | ||
Originated three years prior year | 0 | 0 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 0 | 0 | 14 | ||
Revolving loans | 0 | 0 | 0 | ||
Loans, before allowance | 0 | 0 | 14 | ||
Substandard [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 0 | 0 | 0 | ||
Originated two years prior year | 0 | 0 | 0 | ||
Originated three years prior year | 0 | 0 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving loans | 140 | 140 | 116 | ||
Loans, before allowance | 140 | 140 | 116 | ||
Substandard [Member] | Commercial, Industrial and Agricultural Portfolio [Member] | |||||
Originated current year | 0 | 0 | 0 | ||
Originated prior year | 7 | 7 | 0 | ||
Originated two years prior year | 0 | 0 | 0 | ||
Originated three years prior year | 0 | 0 | 0 | ||
Originated four years prior year | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving loans | 12 | 12 | 0 | ||
Loans, before allowance | 19 | 19 | 0 | ||
Substandard [Member] | Consumer Portfolio Segment [Member] | |||||
Originated current year | 0 | 0 | 74 | ||
Originated prior year | 90 | 90 | 19 | ||
Originated two years prior year | 9 | 9 | 13 | ||
Originated three years prior year | 12 | 12 | 0 | ||
Originated four years prior year | 0 | 0 | 11 | ||
Prior | 3 | 3 | 1 | ||
Revolving loans | 0 | 0 | 0 | ||
Loans, before allowance | $ 114 | $ 114 | $ 118 |
Note 3 - Debt and Equity Secu_3
Note 3 - Debt and Equity Securities (Details Textual) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-Sale, Amortized Cost | $ 936,998,000 | $ 972,315,000 |
Debt Securities, Available-for-Sale | 799,841,000 | 822,812,000 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss | 137,189,000 | 149,504,000 |
Debt Securities, Available-for-Sale, Unrealized Loss Position | 794,332,000 | 822,246,000 |
Asset Pledged as Collateral [Member] | Public Deposits and Other Required Purposes [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 502,138,000 | 477,051,000 |
Debt Securities, Available-for-Sale | 429,123,000 | 405,403,000 |
Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 139,838,000 | 148,460,000 |
Debt Securities, Available-for-Sale | 118,049,000 | 126,190,000 |
US Government Sponsored Entities and Agencies [Member] | ||
Debt Securities, Available-for-Sale | 9,500,000 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss | $ 1,600,000 | |
Percent of Mortgage Backed Securties | 98% | |
Asset-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | $ 45,048,000 | 47,538,000 |
Debt Securities, Available-for-Sale | 42,886,000 | 45,250,000 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss | 2,192,000 | 2,288,000 |
Debt Securities, Available-for-Sale, Unrealized Loss Position | 37,891,000 | 45,250,000 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-Sale, Amortized Cost | 2,500,000 | 2,500,000 |
Debt Securities, Available-for-Sale | 2,381,000 | 2,403,000 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss | 119,000 | 97,000 |
Debt Securities, Available-for-Sale, Unrealized Loss Position | $ 2,381,000 | $ 2,403,000 |
Note 3 - Debt and Equity Secu_4
Note 3 - Debt and Equity Securities - Debt and Equity Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Available-for-sale, amortized cost | $ 936,998 | $ 972,315 |
Securities, Available-for-sale, Gross Unrealized Gains | 32 | 1 |
Securities, Available-for-sale, Gross Unrealized Losses | 137,189 | 149,504 |
Debt Securities, Available-for-Sale | 799,841 | 822,812 |
US Treasury and Other US Government Agencies Debt Securities [Member] | ||
Available-for-sale, amortized cost | 7,370 | 7,353 |
Securities, Available-for-sale, Gross Unrealized Gains | 0 | 0 |
Securities, Available-for-sale, Gross Unrealized Losses | 830 | 856 |
Debt Securities, Available-for-Sale | 6,540 | 6,497 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale, amortized cost | 177,249 | 177,261 |
Securities, Available-for-sale, Gross Unrealized Gains | 0 | 0 |
Securities, Available-for-sale, Gross Unrealized Losses | 27,891 | 32,049 |
Debt Securities, Available-for-Sale | 149,358 | 145,212 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available-for-sale, amortized cost | 485,679 | 518,727 |
Securities, Available-for-sale, Gross Unrealized Gains | 2 | 1 |
Securities, Available-for-sale, Gross Unrealized Losses | 71,139 | 74,290 |
Debt Securities, Available-for-Sale | 414,542 | 444,438 |
Asset-Backed Securities [Member] | ||
Available-for-sale, amortized cost | 45,048 | 47,538 |
Securities, Available-for-sale, Gross Unrealized Gains | 30 | 0 |
Securities, Available-for-sale, Gross Unrealized Losses | 2,192 | 2,288 |
Debt Securities, Available-for-Sale | 42,886 | 45,250 |
Corporate Debt Securities [Member] | ||
Available-for-sale, amortized cost | 2,500 | 2,500 |
Securities, Available-for-sale, Gross Unrealized Gains | 0 | 0 |
Securities, Available-for-sale, Gross Unrealized Losses | 119 | 97 |
Debt Securities, Available-for-Sale | 2,381 | 2,403 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale, amortized cost | 219,152 | 218,936 |
Securities, Available-for-sale, Gross Unrealized Gains | 0 | 0 |
Securities, Available-for-sale, Gross Unrealized Losses | 35,018 | 39,924 |
Debt Securities, Available-for-Sale | $ 184,134 | $ 179,012 |
Note 3 - Debt and Equity Secu_5
Note 3 - Debt and Equity Securities - Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Due in one year or less, securities available-for-sale, amortized cost | $ 5,023 | |
Due in one year or less, securities available-for-sale, estimated market value | 4,985 | |
Due after one year through five years, securities available-for-sale, amortized cost | 99,690 | |
Due after one year through five years, securities available-for-sale, estimated market value | 88,969 | |
Due after five years through ten years, securities available-for-sale, amortized cost | 267,253 | |
Due after five years through ten years, securities available-for-sale, estimated market value | 226,090 | |
Due after ten years, securities available-for-sale, amortized cost | 565,032 | |
Due after ten years, securities available-for-sale, estimated market value | 479,797 | |
Securities available-for-sale, amortized cost | 936,998 | $ 972,315 |
Securities available-for-sale, estimated market value | $ 799,841 | $ 822,812 |
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 | Jun. 30, 2023 USD ($) item | Dec. 31, 2022 USD ($) item |
Available-for-Sale Securities, Less than 12 Months, Fair Value | $ 22,311 | $ 254,434 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 900 | $ 23,233 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 15 | 215 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 772,021 | $ 567,812 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 136,289 | $ 126,271 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 519 | 332 |
Available-for-Sale Securities, Total, Fair Value | $ 794,332 | $ 822,246 |
Available-for-Sale Securities, Total, Unrealized Losses | 137,189 | 149,504 |
US Treasury and Other US Government Agencies Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 0 | 0 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 0 | $ 0 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 0 | 0 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 6,540 | $ 6,497 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 830 | $ 856 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 3 | 0 |
Available-for-Sale Securities, Total, Fair Value | $ 6,540 | $ 6,497 |
Available-for-Sale Securities, Total, Unrealized Losses | 830 | 856 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 0 | 9,747 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 0 | $ 872 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 0 | 4 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 149,358 | $ 135,465 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 27,891 | $ 31,177 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 58 | 54 |
Available-for-Sale Securities, Total, Fair Value | $ 149,358 | $ 145,212 |
Available-for-Sale Securities, Total, Unrealized Losses | 27,891 | 32,049 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 604 | 148,441 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 12 | $ 14,601 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 5 | 113 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 413,424 | $ 295,431 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 71,127 | $ 59,689 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 233 | 136 |
Available-for-Sale Securities, Total, Fair Value | $ 414,028 | $ 443,872 |
Available-for-Sale Securities, Total, Unrealized Losses | 71,139 | 74,290 |
Asset-Backed Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 13,653 | 35,276 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 757 | $ 1,607 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 6 | 21 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 24,238 | $ 9,974 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 1,435 | $ 681 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 22 | 11 |
Available-for-Sale Securities, Total, Fair Value | $ 37,891 | $ 45,250 |
Available-for-Sale Securities, Total, Unrealized Losses | 2,192 | 2,288 |
Corporate Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 0 | 2,403 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 0 | $ 97 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | item | 0 | 1 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 2,381 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 119 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | item | 1 | 0 |
Available-for-Sale Securities, Total, Fair Value | $ 2,381 | $ 2,403 |
Available-for-Sale Securities, Total, Unrealized Losses | 119 | 97 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 8,054 | 58,567 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 131 | $ 6,056 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 4 | 76 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 176,080 | $ 120,445 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 34,887 | $ 33,868 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 202 | 128 |
Available-for-Sale Securities, Total, Fair Value | $ 184,134 | $ 179,012 |
Available-for-Sale Securities, Total, Unrealized Losses | $ 35,018 | $ 39,924 |
Note 4 - Derivatives (Details T
Note 4 - Derivatives (Details Textual) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2020 |
Interest Rate Lock Commitments [Member] | |||
Derivative, Notional Amount | $ 7,252,000 | $ 6,923,000 | |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 157,000 | 123,000 | |
Forward Contracts [Member] | |||
Derivative, Notional Amount | 7,000,000 | 6,250,000 | |
Derivative, Fair Value, Net | $ 28,000 | $ 62,000 | |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Weighted Average Remaining Maturity (Year) | 6 years 11 months 4 days | 7 years 5 months 1 day |
Notional Amount | $ 30,000 | $ 30,000 |
Other Assets [Member] | ||
Estimated Fair Value | $ 4,458 | $ 4,520 |
One Month LIBOR [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 | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Hedged items | $ 172 | $ (2,368) |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||
Derivative designated as hedging instruments | $ (62) | $ 2,394 |
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 | Jun. 30, 2023 | Dec. 31, 2022 |
Carrying Amount of the Hedged Assets | $ 25,624 | $ 25,452 |
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets | $ (4,376) | $ (4,548) |
Note 4 - Derivatives - Net Gain
Note 4 - Derivatives - Net Gains (Losses) Relating to Free-standing Derivative Instruments (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Interest Rate Contract [Member] | ||
Net gains (losses) | $ 34 | $ (467) |
Forward Contracts [Member] | ||
Net gains (losses) | $ (34) | $ (28) |
Note 4 - Derivatives - Amount a
Note 4 - Derivatives - Amount and Fair Value of Mortgage Banking Derivatives (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Interest Rate Contract [Member] | ||
Derivative, amount | $ 7,252,000 | $ 6,923,000 |
Derivative, net | 157,000 | 123,000 |
Forward Contracts [Member] | ||
Derivative, amount | 7,000,000 | 6,250,000 |
Derivative, net | $ 28,000 | $ 62,000 |
Note 5 - Mortgage Servicing R_3
Note 5 - Mortgage Servicing Rights - Principal Balances (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
FHLMC | $ 100,774 | $ 85,742 |
Note 5 - Mortgage Servicing R_4
Note 5 - Mortgage Servicing Rights - Mortgage Servicing Rights Under Amortization Method (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Balance at beginning of period | $ 1,065 | $ 0 |
Servicing rights retained from loans sold | 214 | 1,277 |
Amortization | (91) | (264) |
Valuation Allowance Provision | 0 | (90) |
Balance at end of period | 1,188 | 923 |
Fair value, end of period | $ 1,526 | $ 923 |
Note 5 - Mortgage Servicing R_5
Note 5 - Mortgage Servicing Rights - Key Data and Assumptions Used in Estimating Fair Value (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Prepayment speed | 7.12% | 7.18% |
Weighted-average life (in years) (Year) | 9 years 21 days | 8 years 11 months 23 days |
Weighted-average note rate | 4.70% | 4.34% |
Weighted-average discount rate | 9% | 9% |
Note 6 - Equity Incentive Pla_3
Note 6 - Equity Incentive Plans (Details Textual) - USD ($) | 6 Months Ended | ||||
Jun. 30, 2023 | Dec. 31, 2022 | Apr. 13, 2019 | Jun. 30, 2016 | Apr. 30, 2009 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 232,656 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 56.29 | ||||
Stock Appreciation Rights (SARs) [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares) | 163,415 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 54.46 | ||||
Options and Stock Appreciation Rights [Member] | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 3,991,000 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 4 months 2 days | ||||
Restricted Stock [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares) | 1,075 | 1,075 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 64.03 | $ 64.03 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 37,000 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 9 days | ||||
Restricted Stock Units (RSUs) [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares) | 14,833 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 69 | $ 0 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 890,000 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 4 years 10 months 17 days | ||||
Performance-based Vesting Restricted Stock Units [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares) | 1,107 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 67.85 | $ 0 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 59,000 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 6 months 3 days | ||||
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, Number of Shares Available for Grant (in shares) | 0 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 4,198 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 35.32 | ||||
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, Number of Shares Available for Grant (in shares) | 175,295 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 228,458 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 56.67 | ||||
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 (in shares) | 163,415 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 54.46 |
Note 6 - Equity Incentive Pla_4
Note 6 - Equity Incentive Plans - Summary of Stock Option Activity (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Exercised (in shares) | (7,067) | (2,607) | (9,667) | (5,915) |
Outstanding at end of period (in shares) | 232,656 | 232,656 | ||
Outstanding at end of period (in dollars per share) | $ 56.29 | $ 56.29 | ||
Stock Options and Stock Appreciation Rights [Member] | ||||
Options and SARs outstanding at beginning of period (in shares) | 414,778 | 357,254 | ||
Options and SARs outstanding at beginning of period (in dollars per share) | $ 55.13 | $ 50.18 | ||
Granted (in shares) | 5,000 | 114,332 | ||
Granted, Weighted Average Exercise Price (in dollars per share) | $ 69 | $ 64.06 | ||
Exercised (in shares) | (18,540) | (24,601) | ||
Exercised, Weighted Average Exercise Price (in dollars per share) | $ 48.83 | $ 41.55 | ||
Forfeited or expired (in shares) | (5,167) | (1,167) | ||
Forfeited or expired, Weighted Average Exercise Price (in dollars per share) | $ 60.35 | $ 46.81 | ||
Outstanding at end of period (in shares) | 396,071 | 445,818 | 396,071 | 445,818 |
Outstanding at end of period (in dollars per share) | $ 55.53 | $ 54.22 | $ 55.53 | $ 54.22 |
Options and SARs exercisable at June 30 (in shares) | 190,510 | 173,425 | 190,510 | 173,425 |
Options and SARs exercisable at June 30 (in dollars per share) | $ 48.50 | $ 43.27 | $ 48.50 | $ 43.27 |
Note 6 - Equity Incentive Pla_5
Note 6 - Equity Incentive Plans - Summary of Restricted Stock Shares Activity (Details) | 6 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Restricted Stock [Member] | |
Outstanding, shares (in shares) | shares | 1,075 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 64.03 |
Granted , shares (in shares) | shares | 0 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Vested, shares (in shares) | shares | 0 |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Forfeited, shares (in shares) | shares | 0 |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Outstanding, shares (in shares) | shares | 1,075 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 64.03 |
Restricted Stock Units (RSUs) [Member] | |
Outstanding, shares (in shares) | shares | 0 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Granted , shares (in shares) | shares | 14,833 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 69 |
Vested, shares (in shares) | shares | 0 |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Forfeited, shares (in shares) | shares | 0 |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Outstanding, shares (in shares) | shares | 14,833 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 69 |
Note 6 - Equity Incentive Pla_6
Note 6 - Equity Incentive Plans - Summary of Performance Shares Activity (Details) - Performance-based Vesting Restricted Stock Units [Member] | 6 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Outstanding, shares (in shares) | shares | 0 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Granted , shares (in shares) | shares | 1,107 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 67.85 |
Vested, shares (in shares) | shares | 0 |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Forfeited or expired, shares (in shares) | shares | 0 |
Forfeited or expired, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Outstanding, shares (in shares) | shares | 1,107 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 67.85 |
Grant price (in dollars per share) | $ / shares | $ 67.85 |
PSU outstanding (in shares) | shares | 1,107 |
Note 7 - Regulatory Capital - S
Note 7 - Regulatory Capital - Summary of Company's and Wilson Banks Actual Capital Amounts and Ratios (Details) $ in Thousands | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Total capital to risk weighted assets actual amount | $ 538,392 | $ 512,025 |
Total capital to risk weighted assets actual ratio | 0.139 | 0.135 |
Total capital to risk weighted assets regulatory minimum capital requirement amount | $ 310,487 | $ 303,440 |
Total capital to risk weighted assets regulatory minimum capital requirement ratio ( | 0.080 | 0.080 |
Well capitalized amount | $ 388,109 | $ 379,300 |
Total capital to risk weighted assets regulatory minimum capital requirement well capitalized ratio | 0.100 | 0.100 |
Tier 1 capital to risk weighted assets actual amount | $ 491,192 | $ 466,076 |
Tier 1 capital to risk weighted assets actual ratio | 0.127 | 0.123 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 232,864 | $ 227,580 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio | 0.060 | 0.060 |
Tier 1 capital to risk well capitalized amount | $ 310,486 | $ 303,440 |
Tier 1 capital to risk weighted assets regulatory well capitalized ratio | 0.080 | 0.080 |
Common equity Tier 1 capital to risk weighted assets actual amount | $ 491,129 | $ 466,061 |
Common equity Tier 1 capital to risk weighted assets actual ratio | 0.127 | 0.123 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 174,648 | $ 170,685 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio | 0.045 | 0.045 |
Tier 1 capital to average assets actual amount | $ 491,192 | $ 466,076 |
Tier 1 capital to average assets actual ratio | 0.107 | 0.112 |
Tier 1 capital to average assets regulatory minimum capital requirement amount | $ 184,444 | $ 166,712 |
Tier 1 capital to average assets regulatory minimum capital requirement ratio (as a percent) | 0.040 | 0.040 |
Wilson Bank [Member] | ||
Total capital to risk weighted assets actual amount | $ 534,956 | $ 509,169 |
Total capital to risk weighted assets actual ratio | 0.138 | 0.134 |
Total capital to risk weighted assets regulatory minimum capital requirement amount | $ 310,376 | $ 303,334 |
Total capital to risk weighted assets regulatory minimum capital requirement ratio ( | 0.080 | 0.080 |
Well capitalized amount | $ 387,970 | $ 379,168 |
Total capital to risk weighted assets regulatory minimum capital requirement well capitalized ratio | 0.100 | 0.100 |
Tier 1 capital to risk weighted assets actual amount | $ 487,756 | $ 463,220 |
Tier 1 capital to risk weighted assets actual ratio | 0.126 | 0.122 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 232,780 | $ 227,500 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio | 0.060 | 0.060 |
Tier 1 capital to risk well capitalized amount | $ 310,374 | $ 303,333 |
Tier 1 capital to risk weighted assets regulatory well capitalized ratio | 0.080 | 0.080 |
Common equity Tier 1 capital to risk weighted assets actual amount | $ 487,693 | $ 463,205 |
Common equity Tier 1 capital to risk weighted assets actual ratio | 0.126 | 0.122 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 174,586 | $ 170,625 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio | 0.045 | 0.045 |
Common equity Tier 1 capital to risk weighted assets regulatory well capitalized | $ 252,180 | $ 246,458 |
Common equity Tier 1 capital to risk weighted assets well capitalized ratio | 0.065 | 0.065 |
Tier 1 capital to average assets actual amount | $ 487,756 | $ 463,220 |
Tier 1 capital to average assets actual ratio | 0.106 | 0.111 |
Tier 1 capital to average assets regulatory minimum capital requirement amount | $ 184,379 | $ 166,648 |
Tier 1 capital to average assets regulatory minimum capital requirement ratio (as a percent) | 0.040 | 0.040 |
Tier 1 capital to average assets well capitalized | $ 230,474 | $ 208,310 |
Tier 1 capital to average assets well capitalized ratio (as a percent) | 0.050 | 0.050 |
Note 8 - Fair Value Measureme_3
Note 8 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Allowance for Credit Loss | $ 43,363 | $ 41,446 | $ 39,813 | $ 35,238 | $ 33,778 | $ 39,632 |
Collateral Pledged [Member] | ||||||
Financing Receivable, Allowance for Credit Loss | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_4
Note 8 - Fair Value Measurements - Fair Value of Financial Instruments Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-Sale | $ 799,841 | $ 822,812 |
US Treasury and Other US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 6,540 | 6,497 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 149,358 | 145,212 |
Collateralized Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 414,542 | 444,438 |
Asset-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 42,886 | 45,250 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 2,381 | 2,403 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 184,134 | 179,012 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | ||
Hedged Loans | 25,624 | 25,452 |
Debt Securities, Available-for-Sale | 799,841 | 822,812 |
Mortgage loans held for sale | 5,389 | 3,355 |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 4,643 | 4,705 |
Other investments | 2,047 | 1,965 |
Total assets | 837,544 | 858,289 |
Derivative instruments | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | US Treasury and Other US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 6,540 | 6,497 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 149,358 | 145,212 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 414,542 | 444,438 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | Asset-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 42,886 | 45,250 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 2,381 | 2,403 |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 184,134 | 179,012 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Hedged Loans | 0 | 0 |
Debt Securities, Available-for-Sale | 6,540 | 6,497 |
Mortgage loans held for sale | 0 | 0 |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 0 | 0 |
Other investments | 0 | 0 |
Total assets | 6,540 | 6,497 |
Derivative instruments | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury and Other US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 6,540 | 6,497 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 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] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Hedged Loans | 25,624 | 25,452 |
Debt Securities, Available-for-Sale | 793,301 | 816,315 |
Mortgage loans held for sale | 5,389 | 3,355 |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 4,643 | 4,705 |
Other investments | 0 | 0 |
Total assets | 828,957 | 849,827 |
Derivative instruments | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Other US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 149,358 | 145,212 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 414,542 | 444,438 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 42,886 | 45,250 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 2,381 | 2,403 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 184,134 | 179,012 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Hedged Loans | 0 | 0 |
Debt Securities, Available-for-Sale | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 0 | 0 |
Other investments | 2,047 | 1,965 |
Total assets | 2,047 | 1,965 |
Derivative instruments | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury and Other US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 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] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-Sale | 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] | ||
Debt Securities, Available-for-Sale | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_5
Note 8 - Fair Value Measurements - Fair Value of Financial Instruments Measured on a Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |
Reported Value Measurement [Member] | |||
Other real estate owned | $ 0 | $ 0 | |
Collateral dependent loans (¹) | [1] | 4,887 | 638 |
Total assets | 4,887 | 638 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Other real estate owned | 0 | 0 | |
Collateral dependent loans (¹) | [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 | |
Collateral dependent loans (¹) | [1] | 0 | 0 |
Total assets | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Other real estate owned | 0 | 0 | |
Collateral dependent loans (¹) | [1] | 4,887 | 638 |
Total assets | $ 4,887 | $ 638 | |
[1]As of June 30, 2023 and December 31, 2022 no reserve was recorded on collateral dependent loans. |
Note 8 - Fair Value Measureme_6
Note 8 - Fair Value Measurements - Additional Information on Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - Measurement Input, Discount Rate [Member] - Fair Value, Inputs, Level 3 [Member] - Weighted Average [Member] | Jun. 30, 2023 | [1] |
Collateral dependent loans | 0.10 | |
Other real estate owned | 0.10 | |
[1]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. |
Note 8 - Fair Value Measureme_7
Note 8 - Fair Value Measurements - Changes in Fair Value Due to Observable Factors (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Fair value, other assets | $ 2,007 | $ 2,024 | $ 1,965 | $ 2,034 |
Fair value, other liabilities | 0 | 0 | 0 | 0 |
Total realized gains included in income, other assets | 40 | 2 | 82 | (8) |
Total realized gains included in income, other liabilities | 0 | 0 | 0 | 0 |
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held, other assets | 0 | 0 | 0 | 0 |
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held, other liabilities | 0 | 0 | 0 | 0 |
Purchases, issuances and settlements, net, other assets | 0 | 0 | 0 | 0 |
Purchases, issuances and settlements, net, other liabilities | 0 | 0 | 0 | 0 |
Transfers out of Level 3, other assets | 0 | 0 | 0 | 0 |
Transfers out of Level 3, other liabilities | 0 | 0 | 0 | 0 |
Fair value, other assets | 2,047 | 2,026 | 2,047 | 2,026 |
Fair value, other liabilities | 0 | 0 | 0 | 0 |
Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at June 30 | 40 | 2 | 82 | (8) |
Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at June 30 | $ 0 | $ 0 | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_8
Note 8 - Fair Value Measurements - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | $ 187,669 | $ 104,789 | |
Loans, net | 3,347,312 | 3,088,344 | |
Mortgage servicing rights | 1,188 | 1,065 | |
Deposits | 4,162,918 | 3,892,705 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | [1] | 187,669 | 104,789 |
Loans, net | [1] | 3,202,440 | 2,992,161 |
Mortgage servicing rights | 1,526 | 1,252 | |
Deposits | [1] | 3,629,530 | 3,210,581 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 187,669 | 104,789 | |
Loans, net | 0 | 0 | |
Mortgage servicing rights | 0 | ||
Deposits | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Loans, net | 0 | 0 | |
Mortgage servicing rights | 1,526 | 1,252 | |
Deposits | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Loans, net | 3,202,440 | 2,992,161 | |
Mortgage servicing rights | 0 | ||
Deposits | $ 3,629,530 | $ 3,210,581 | |
[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 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | ||
Effective Income Tax Rate Reconciliation, Percent | 22.55% | 23.50% | 22.63% | 22.75% |
Effective Income Tax Rate Reconciliation, at Federal and State Statutory Income Tax Rate, Percent | 26.14% | 26.14% | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||||
Open Tax Year | 2019 2020 2021 2022 |
Note 10 - Earnings Per Share -
Note 10 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Numerator – Earnings available to common stockholders | $ 12,389 | $ 14,139 | $ 26,230 | $ 25,512 |
Denominator – Weighted average number of common shares outstanding (in shares) | 11,576,716 | 11,339,057 | 11,560,199 | 11,307,763 |
Basic earnings per common share (in dollars per share) | $ 1.07 | $ 1.25 | $ 2.27 | $ 2.26 |
Numerator – Earnings available to common stockholders | $ 12,389 | $ 14,139 | $ 26,230 | $ 25,512 |
Dilutive effect of stock options, RSUs and PSUs (in shares) | 30,230 | 31,198 | 29,974 | 31,501 |
Weighted average diluted common shares outstanding (in shares) | 11,606,946 | 11,370,255 | 11,590,173 | 11,339,264 |
Diluted earnings per common share (in dollars per share) | $ 1.07 | $ 1.24 | $ 2.26 | $ 2.25 |
Note 11 - Commitments and Con_3
Note 11 - Commitments and Contingent Liabilities (Details Textual) | 6 Months Ended |
Jun. 30, 2023 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | |
Financing Receivable, Percentage of Loans Delivered to Investors | 100% |
Standby Letters of Credit [Member] | |
Debt Instrument, Term (Year) | 2 years |
Note 11 - Commitments and Con_4
Note 11 - Commitments and Contingent Liabilities - Total Contractual Amount for All Off-balance Sheet Commitments (Details) | Jun. 30, 2023 USD ($) |
Standby Letters of Credit [Member] | |
Commitments | $ 109,848,000 |
Commitments to Extend Credit [Member] | |
Commitments | $ 1,138,729,000 |
Note 11 - Commitments and Con_5
Note 11 - Commitments and Contingent Liabilities - Allowance on Off-balance Sheet Credit Exposures (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Beginning balance, January 1 | $ 4,858 | $ 7,975 | $ 6,136 | $ 955 |
Credit loss expense (benefit) | (1,020) | (608) | (2,298) | 217 |
Ending balance, June 30, | 3,838 | 7,367 | 3,838 | 7,367 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Beginning balance, January 1 | $ 0 | $ 0 | $ 0 | $ 6,195 |