Cover Page
Cover Page - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 24, 2022 | Jun. 30, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | CIVB | ||
Entity Registrant Name | Civista Bancshares, Inc. | ||
Entity Central Index Key | 0000944745 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Incorporation, State or Country Code | OH | ||
Entity File Number | 001-36192 | ||
Entity Tax Identification Number | 34-1558688 | ||
Entity Address, Address Line One | 100 East Water Street | ||
Entity Address, City or Town | Sandusky | ||
Entity Address, State or Province | OH | ||
Entity Address, Postal Zip Code | 44870 | ||
City Area Code | 419 | ||
Local Phone Number | 625 - 4121 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity Interactive Data Current | Yes | ||
Title of 12(b) Security | Common shares, no par value | ||
Security Exchange Name | NASDAQ | ||
Documents Incorporated by Reference | Portions of the registrant’s Annual Report to Shareholders for the fiscal year ended December 31, 2021 (the “2021 Annual Report”) are incorporated by reference into Parts I and II of this Form 10-K. Form 10-K. | ||
Entity Common Stock, Shares Outstanding | 14,888,915 | ||
Entity Public Float | $ 323,533,981 | ||
Auditor Name | BKD, LLP | ||
Auditor Firm ID | 686 | ||
Auditor Location | United States |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from financial institutions | $ 253,459 | $ 125,749 |
Restricted cash | 10,780 | 11,300 |
Cash and cash equivalents | 264,239 | 137,049 |
Investments in time deposits | 1,730 | 2,473 |
Securities available for sale | 559,874 | 363,464 |
Equity securities | 1,072 | 886 |
Loans held for sale | 1,972 | 7,001 |
Loans, net of allowance of $26,641 and $25,028 | 1,971,238 | 2,032,474 |
Other securities | 17,011 | 20,537 |
Premises and equipment, net | 22,445 | 22,580 |
Accrued interest receivable | 7,385 | 9,421 |
Goodwill | 76,851 | 76,851 |
Other intangible assets | 7,581 | 8,075 |
Bank owned life insurance | 46,641 | 45,976 |
Swap assets | 11,072 | 21,700 |
Other assets | 22,872 | 20,375 |
Total assets | 3,011,983 | 2,768,862 |
Deposits | ||
Noninterest-bearing | 788,906 | 720,809 |
Interest-bearing | 1,627,795 | 1,468,589 |
Total deposits | 2,416,701 | 2,189,398 |
Long-term Federal Home Loan Bank advances | 75,000 | 125,000 |
Securities sold under agreements to repurchase | 25,495 | 28,914 |
Subordinated debentures | 102,813 | 29,427 |
Swap liabilities | 11,072 | 21,764 |
Accrued expenses and other liabilities | 25,690 | 24,251 |
Total liabilities | 2,656,771 | 2,418,754 |
SHAREHOLDERS' EQUITY | ||
Common stock, no par value, 40,000,000 shares authorized, 17,709,584 shares issued at December 31, 2021 and 17,664,951 shares issued at December 31, 2020 | 277,741 | 277,039 |
Accumulated earnings | 125,558 | 93,048 |
Treasury stock, 2,755,384 common shares at December 31, 2021 and 1,766,919 common shares at December 31, 2020, at cost | (56,907) | (34,598) |
Accumulated other comprehensive income | 8,820 | 14,619 |
Total shareholders' equity | 355,212 | 350,108 |
Total liabilities and shareholders' equity | $ 3,011,983 | $ 2,768,862 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Allowance for loan losses | $ 26,641 | $ 25,028 |
Common stock, no par value | $ 0 | $ 0 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 17,709,584 | 17,664,951 |
Treasury stock, common shares | 2,755,384 | 1,766,919 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Interest and dividend income | |||
Loans, including fees | $ 89,570 | $ 87,777 | $ 84,972 |
Taxable securities | 5,473 | 5,359 | 6,584 |
Tax-exempt securities | 6,250 | 6,123 | 5,647 |
Federal funds sold and other | 449 | 606 | 851 |
Total interest and dividend income | 101,742 | 99,865 | 98,054 |
Interest expense | |||
Deposits | 4,175 | 6,881 | 8,057 |
Federal Home Loan Bank advances | 1,163 | 1,932 | 3,452 |
Subordinated debentures | 955 | 945 | 1,423 |
Securities sold under agreements to repurchase and other | 24 | 380 | 22 |
Total interest expense | 6,317 | 10,138 | 12,954 |
Net interest income | 95,425 | 89,727 | 85,100 |
Provision for loan losses | 830 | 10,112 | 1,035 |
Net interest income after provision for loan losses | 94,595 | 79,615 | 84,065 |
Noninterest income | |||
Service charges | 5,905 | 5,288 | 6,395 |
Net gain on sale of securities | 1,786 | 94 | 32 |
Net gain (loss) on equity securities | 186 | (57) | 121 |
Net gain on sale of loans | 8,042 | 8,563 | 2,707 |
ATM/Interchange fees | 5,443 | 4,472 | 4,056 |
Wealth management fees | 4,857 | 3,981 | 3,670 |
Bank owned life insurance | 1,200 | 977 | 1,007 |
Tax refund processing fees | 2,375 | 2,375 | 2,750 |
Computer center item processing fees | 175 | 252 | 273 |
Swap fees | 207 | 1,459 | 516 |
Other | 1,276 | 778 | 916 |
Total Noninterest Income | 31,452 | 28,182 | 22,443 |
Noninterest expense | |||
Compensation expense | 44,690 | 42,480 | 39,156 |
Net occupancy expense | 4,213 | 4,079 | 3,835 |
Equipment expense | 1,838 | 2,006 | 2,246 |
Contracted data processing | 1,725 | 1,880 | 1,831 |
FDIC Assessment | 1,056 | 728 | 138 |
State franchise tax | 2,184 | 1,913 | 1,843 |
Professional services | 2,715 | 2,795 | 2,844 |
Amortization of intangible assets | 890 | 913 | 945 |
ATM/Interchange expense | 2,314 | 1,868 | 1,887 |
Marketing expense | 1,103 | 1,074 | 1,411 |
Software maintenance expenses | 2,755 | 1,833 | 1,523 |
Other operating expenses | 13,001 | 9,096 | 9,288 |
Total noninterest expense | 78,484 | 70,665 | 66,947 |
Income before income taxes | 47,563 | 37,132 | 39,561 |
Income taxes | 7,017 | 4,940 | 5,683 |
Net income | 40,546 | 32,192 | 33,878 |
Preferred stock dividends | 0 | 0 | 647 |
Net income available to common shareholders | $ 40,546 | $ 32,192 | $ 33,231 |
Earnings per common share, basic | $ 2.63 | $ 2 | $ 2.12 |
Earnings per common share, diluted | $ 2.63 | $ 2 | $ 2.01 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 40,546 | $ 32,192 | $ 33,878 |
Other comprehensive income (loss): | |||
Unrealized holding gains (loss) on available for sale securities | (8,570) | 10,935 | 13,368 |
Tax effect | 1,799 | (2,297) | (2,807) |
Reclassification of gains recognized in net income | (1) | (94) | (32) |
Tax effect | 20 | 7 | |
Pension liability adjustment | 992 | (1,326) | (2,953) |
Tax effect | (209) | 279 | 620 |
Reclassification of actuatial gain (loss) recognized in net income | 240 | 289 | 156 |
Tax effect | (50) | (61) | (33) |
Total other comprehensive income (loss) | (5,799) | 7,745 | 8,326 |
Comprehensive income | $ 34,747 | $ 39,937 | $ 42,204 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Preferred Shares [Member] | Common Shares [Member] | Accumulated Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning balance at Dec. 31, 2018 | $ 298,898 | $ 9,364 | $ 266,901 | $ 41,320 | $ (17,235) | $ (1,452) |
Beginning balance, shares at Dec. 31, 2018 | 10,120 | 15,603,499 | ||||
Net income | 33,878 | 33,878 | ||||
Other comprehensive income (loss) | 8,326 | 8,326 | ||||
Conversion of Series B preferred shares to common shares | (404) | $ (9,364) | $ 8,990 | (30) | ||
Conversion of Series B preferred shares to common shares, shares | (10,120) | 1,242,683 | ||||
Stock-based compensation | 531 | $ 531 | ||||
Stock-based compensation, shares | 29,560 | |||||
Common share dividends | (6,547) | (6,547) | ||||
Preferred share dividends ($65.00 per share) | (647) | (647) | ||||
Repurchase of common stock | (3,909) | (3,909) | ||||
Repurchase of common stock, shares | (188,200) | |||||
Ending balance at Dec. 31, 2019 | 330,126 | $ 276,422 | 67,974 | (21,144) | 6,874 | |
Ending balance, shares at Dec. 31, 2019 | 16,687,542 | |||||
Net income | 32,192 | 32,192 | ||||
Other comprehensive income (loss) | 7,745 | 7,745 | ||||
Stock-based compensation | 617 | $ 617 | ||||
Stock-based compensation, shares | 41,245 | |||||
Common share dividends | (7,118) | (7,118) | ||||
Repurchase of common stock | (13,454) | (13,454) | ||||
Repurchase of common stock, shares | (830,755) | |||||
Ending balance at Dec. 31, 2020 | 350,108 | $ 277,039 | 93,048 | (34,598) | 14,619 | |
Ending balance, shares at Dec. 31, 2020 | 15,898,032 | |||||
Net income | 40,546 | 40,546 | ||||
Other comprehensive income (loss) | (5,799) | (5,799) | ||||
Stock-based compensation | 702 | $ 702 | ||||
Stock-based compensation, shares | 44,633 | |||||
Common share dividends | (8,036) | (8,036) | ||||
Repurchase of common stock | (22,309) | (22,309) | ||||
Repurchase of common stock, shares | (988,465) | |||||
Ending balance at Dec. 31, 2021 | $ 355,212 | $ 277,741 | $ 125,558 | $ (56,907) | $ 8,820 | |
Ending balance, shares at Dec. 31, 2021 | 14,954,200 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - Accumulated Earnings [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Common stock dividends per share | $ 0.52 | $ 0.44 | $ 0.42 |
Preferred stock dividends per share | $ 65 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income | $ 40,546 | $ 32,192 | $ 33,878 |
Adjustments to reconcile net income to net cash from operating activities | |||
Time deposits amortization | 8 | 2 | |
Security amortization, net | 1,376 | 1,119 | 1,185 |
Depreciation | 1,976 | 2,253 | 2,240 |
Amortization of core deposit intangible | 890 | 913 | 945 |
Amortization of net deferred loan fees | (10,738) | (5,066) | (626) |
Net gain on sale of securities | (1,786) | (94) | (32) |
Net (gain) loss on equity securities | (186) | 57 | (121) |
Provision for loan losses | 830 | 10,112 | 1,035 |
Loans originated for sale | (255,265) | (308,742) | (126,690) |
Proceeds from sale of loans | 268,336 | 312,589 | 128,503 |
Net gain on sale of loans | (8,042) | (8,563) | (2,707) |
Increase in cash surrender value of bank owned life insurance | (1,200) | (977) | (1,007) |
Share-based compensation | 702 | 617 | 531 |
Deferred taxes | 1,319 | (2,277) | 663 |
Change in Accrued interest payable | 111 | (73) | 47 |
Accrued interest receivable | 2,036 | (2,328) | (370) |
Other, net | (152) | 920 | 1,327 |
Net cash from operating activities | 40,761 | 32,654 | 38,801 |
Cash flows used for investing activities: | |||
Maturities | 980 | 735 | |
Purchases | (245) | (1,250) | (980) |
Maturities, prepayments and calls of securities, available for sale | 61,927 | 58,246 | 54,055 |
Sales of securities, available for sale | 1,810 | 1,455 | 17,570 |
Purchases of securities, available for sale | (268,309) | (54,850) | (71,646) |
Purchases of other securities | (257) | ||
Redemption of other securities | 3,526 | 741 | |
Redemption of equity securities | 247 | ||
Purchases of bank owned life insurance | (955) | ||
Proceeds from bank owned life insurance | 535 | ||
Net change in loans | 71,072 | (343,348) | (146,350) |
Proceeds from sale of OREO properties | 122 | ||
Premises and equipment purchases | (1,927) | (1,972) | (3,201) |
Disposal of premises and equipment | 13 | 12 | 2 |
Net cash used for investing activities | (130,496) | (340,982) | (150,764) |
Cash flows from financing activities: | |||
Increase in deposits | 227,303 | 510,634 | 98,871 |
Net change in short-term FHLB advances | (101,500) | (87,100) | |
Repayment of long-term FHLB advances | (50,000) | (5,000) | |
Proceeds from long-term FHLB advances | 125,000 | ||
Repayment of other borrowings | (183,695) | ||
Proceeds from other borrowings | 183,695 | ||
Proceeds from subordinated debentures | 73,386 | ||
Increase (decrease) in securities sold under repurchase agreements | (3,419) | 10,240 | (3,525) |
Cash payment for redemption of series B preferred stock | (402) | ||
Repurchase of common stock | (22,309) | (13,454) | (3,909) |
Cash paid on fractional shares on preferred stock conversion | (2) | ||
Cash dividends paid | (8,036) | (7,118) | (7,194) |
Net cash from financing activities | 216,925 | 398,802 | 116,739 |
Increase in cash and due from financial institutions | 127,190 | 90,474 | 4,776 |
Cash and cash equivalents at beginning of year | 137,049 | 46,575 | 41,799 |
Cash and cash equivalents at end of year | 264,239 | 137,049 | 46,575 |
Supplemental disclosures of cash flow information: | |||
Interest paid | 6,206 | 10,211 | 12,907 |
Income taxes paid | 6,180 | 7,095 | 5,700 |
Transfer of loans from portfolio to other real estate owned | 72 | $ 31 | |
Transfer of premises to held-for-sale | 76 | ||
Securities purchased not settled | $ 3,524 | 1,200 | |
Conversion of preferred stock to common stock | $ 8,960 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following is a summary of the accounting policies adopted by Civista Bancshares, Inc., which have a significant effect on the Consolidated Financial Statements. Nature of Operations and Principles of Consolidation Civista provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Summit, Huron, Ottawa, Madison, Montgomery and Richland, in the Indiana counties of Dearborn and Ripley and in the Kentucky county of Kenton. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, our customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions. FCIA was formed to allow the Company to participate in commission revenue generated through its third party insurance agreement. Insurance commission revenue was less than 1.0% of total revenue for each of the years ended December 31, 2021, 2020 and 2019. WSP was formed to hold repossessed assets of CBI’s subsidiaries. WSP revenue was less than 1% of total revenue for each of the years ended December 31, 2021, 2020 and 2019. FCRS was formed in 2012 to facilitate payment of individual state and federal tax refunds. The operations of FCRS were discontinued June 30, 2019. CRMI was formed in 2017 to provide property and casualty insurance coverage to CBI and its subsidiaries for which insurance may not be currently available or economically feasible in the insurance marketplace. CRMI revenue was less than 1% of total revenue for each of the years ended December 31, 2021, 2020 and 2019. FCC was formed as a wholly-owned subsidiary of Civista in Wilmington, Delaware to hold inter-company debt. The operations of FCC were discontinued December 31, 2021. FCI is wholly-owned by Civista and holds and manages its securities portfolio. The operations of FCI are located in Wilmington, Delaware. Use of Estimates Cash Flows transactions, interest bearing deposits in other financial institutions, federal funds purchased, short-term borrowings and repurchase agreements. The Company routinely maintains balances that exceed FDIC insured limits and the risk of loss is very low with respect to such deposits. Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold using the specific identification method. Securities are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value is other than temporary. For debt securities, management considers whether the present value of cash flows expected to be collected are less than the security’s amortized cost basis, the magnitude and duration of the decline, the reasons underlying the decline and the Company’s intent to sell the security or whether it is more likely than not that the Company would be required to sell the security before its anticipated recovery in market value, to determine whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, if the Company does not intend to sell the security, and it is more likely than not that it will not be required to sell the security, before recovery of the security’s amortized cost basis, the charge to earnings is limited to the amount of credit loss. Any remaining difference between fair value and amortized cost is recognized in other comprehensive income, net of applicable taxes. Otherwise, the entire difference between fair value and amortized cost is charged to earnings. Other securities which include FHLB stock, Federal Reserve Bank (“FRB”) stock, Federal Agricultural Mortgage Corporation stock, Bankers’ Bancshares Inc. (“BB”) stock, and Norwalk Community Development Corp (“NCDC”) stock are carried at cost. Equity securities Loans Held for Sale: Loans: Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the credit is well-secured and in process of collection. Interest income on consumer loans is discontinued when management determines future collection is unlikely. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued, but not received, for loans placed on nonaccrual, is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Purchased Loans: Purchased loans are accounted for individually or aggregated into pools of loans based on common risk characteristics (e.g., credit score, loan type, and date of origination). The Company estimates the amount and timing of expected cash flows for each purchased loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan’s, or pool’s, contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Over the life of the loan or pool, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected future cash flows is greater than the carrying amount, the excess is recognized as part of future interest income. Allowance for Loan Losses: All Commercial, Commercial Real Estate and Farm Real Estate loans are monitored on a regular basis with a detailed loan review completed for all loan relationships greater than $1,500. All Commercial, Commercial Real Estate and Farm Real Estate loans that are 90 days past due or in nonaccrual status, are analyzed to determine if they are “impaired”, which means that it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. All loans that are delinquent 90 days are classified as substandard and placed on nonaccrual status unless they are well-secured and in the process of collection. The remaining loans are evaluated and segmented with loans with similar risk characteristics. The Company allocates reserves based on risk categories and portfolio segments described below, which conform to the Company’s asset classification policy. In reviewing risk within Civista’s loan portfolio, management has identified specific segments to categorize loan portfolio risk: (i) Commercial & Agriculture loans; (ii) Commercial Real Estate – Owner Occupied loans; (iii) Commercial Real Estate – Non-Owner Occupied loans; (iv) Residential Real Estate loans; (v) Real Estate Construction loans; (vi) Farm Real Estate loans; and (vii) Consumer and Other loans. Additional information related to economic factors can be found in Note 4 Loan Charge-off Policies: Troubled Debt Restructurings: Other Real Estate: Premises and Equipment: three seven Federal Home Loan Bank (FHLB) Stock rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as the following: ( a b c d Federal Reserve Bank (FRB) Stock Bank Owned Life Insurance (BOLI) Goodwill and Other Intangible Assets: Other intangible assets consist of core deposit intangibles arising from whole bank and branch acquisitions. These intangible assets are measured at fair value and then amortized on an accelerated method over their estimated useful lives, which range from five Mortgage Servicing Rights Long-lived Assets: Repurchase Agreements Loan Commitments and Related Financial Instruments: Income Taxes The Company prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Stock-Based Compensation Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. Retirement Plans Earnings per Common Share Comprehensive Income Loss Contingencies Restrictions on Cash Dividend Restriction Fair Value of Financial Instruments Operating Segments Treasury Stock Business Combinations: Derivative Instruments and Hedging Activities Derivatives and Hedging Reclassifications: Adoption of New Accounting Standards: In October 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-08, Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs, Effect of Newly Issued but Not Yet Effective Accounting Standards: In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. A public business entity that is an SEC filer, such as the Company, should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. On October 16, 2019, the FASB voted to defer the effective date for ASC 350, Intangibles – Goodwill and Other In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, and Topic 825, Financial Instruments, Topic 326, Financial Instruments – Credit Losses Financial Instruments – Credit Losses In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses, Topic 326 ASU 2016-13, ASU 2019-05 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted once ASU 2016-13 has been . On October 16, 2019, the FASB voted to defer the effective date for ASC 326, Financial Instruments – Credit Losses In November 2019, the FASB issued ASU 2019-10, Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (Goodwill) In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses In March 2020, the FASB issued ASU 2020-03 , Codification Improvements to Financial Instruments. Financial Instruments In January 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020 reference rates, such as the Secured Overnight Financing Rate (SOFR). Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls “reference rate reform” if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Also, entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met, and can make a one-time election to sell and/or reclassify held-to-maturity debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. The Company is working through this transition via a multi-disciplinary project team. We are still evaluating the impact the change to a benchmark like SOFR or Prime Rate will have on our financial condition, results of operations or cash flows. |
Securities
Securities | 12 Months Ended |
Dec. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | NOTE 2 - SECURITIES The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2021 U.S. Treasury securities and obligations of U.S. government agencies $ 48,390 $ 30 $ (530 ) $ 47,890 Obligations of states and political subdivisions 281,247 17,696 (107 ) 298,836 Mortgage-back securities in government sponsored entities 211,660 2,938 (1,450 ) 213,148 Total debt securities $ 541,297 $ 20,664 $ (2,087 ) $ 559,874 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2020 U.S. Treasury securities and obligations of U.S. government agencies $ 21,479 $ 220 $ (6 ) $ 21,693 Obligations of states and political subdivisions 208,013 21,000 (1 ) 229,012 Mortgage-back securities in government sponsored entities 106,824 5,963 (28 ) 112,759 Total debt securities $ 336,316 $ 27,183 $ (35 ) $ 363,464 The amortized cost and fair value of securities at year end 2021 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available for sale Amortized Fair Value Due in one year or less $ 3,786 $ 3,789 Due from one to five years 32,034 32,121 Due from five to ten years 61,675 63,083 Due after ten years 232,142 247,733 Mortgage-backed securities in government sponsored entities 211,660 213,148 Total securities available for sale $ 541,297 $ 559,874 Securities with a carrying value of $168,435 Proceeds from sales of securities, gross realized gains and gross realized losses were as follows: 2021 2020 2019 Sale proceeds $ 1,810 $ 1,455 $ 17,570 Gross realized gains 1,785 94 47 Gross realized losses — — 43 Gains from securities called or settled by the issuer 1 — 28 Debt securities with unrealized losses at year end 2021 and 2020 not recognized in income were as follows: 2021 12 Months or less More than 12 months Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury securities and obligations of U.S. government agencies $ 41,432 $ (473 ) $ 2,014 $ (57 ) $ 43,446 $ (530 ) Obligations of states and political subdivisions 25,797 (107 ) — — 25,797 (107 ) Mortgage-backed securities in gov’t sponsored entities 141,327 (1,343 ) 3,123 (107 ) 144,450 (1,450 ) Total temporarily impaired $ 208,556 $ (1,923 ) $ 5,137 $ (164 ) $ 213,693 $ (2,087 ) 2020 12 Months or less More than 12 months Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury securities and obligations of U.S. government agencies $ 6,501 $ (5 ) $ 126 $ (1 ) $ 6,627 $ (6 ) Obligations of states and political subdivisions 1,874 (1 ) — — 1,874 (1 ) Mortgage-backed securities in gov’t sponsored entities 5,755 (28 ) — — 5,755 (28 ) Total temporarily impaired $ 14,130 $ (34 ) $ 126 $ (1 ) $ 14,256 $ (35 ) The Company periodically evaluates securities for other-than-temporary impairment. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. Unrealized losses that are determined to be temporary in nature are recorded, net of tax, in accumulated other comprehensive loss on the Consolidated Balance Sheet. The Company has assessed each available for sale security position for credit impairment. Factors considered in determining whether a loss is temporary include: • The length of time and the extent to which fair value has been below cost; • The severity of impairment; • The cause of the impairment and the financial condition and near-term prospects of the issuer; • If the Company intends to sell the investment; • If it’s more-likely-than-not the Company will be required to sell the investment before recovering its amortized cost basis; and • If the Company does not expect to recover the investment’s entire amortized cost basis (even if the Company does not intend to sell the investment). The Company’s review for impairment generally entails: • Identification and evaluation of investments that have indications of impairment; • Analysis of individual investments that have fair values less than amortized cost, including consideration of length of time each investment has been in unrealized loss position and the expected recovery period; • Evaluation of factors or triggers that could cause individual investments to qualify as having other-than-temporary impairment; and • Documentation of these analyses, as required by policy. At December 31, 2021, the Company owned 50 securities that were considered temporarily impaired. The unrealized losses on these securities have not been recognized into income because the issuers’ bonds are of high credit quality, management has the intent and ability to hold these securities for the foreseeable future, and the decline in fair value is largely due to changes in market interest rates. The Company also considers sector specific credit rating changes in its analysis. The fair value is expected to recover as the securities approach their maturity date or reset date. The Company does not intend to sell until recovery and does not believe selling will be required before recovery. The following table presents the net gains and losses on equity investments recognized in earnings at year-end 2021 and 2020, and the portion of unrealized gains and losses for the period that relates to equity investments held at year-end 2021 and 2020: 2021 2020 Net gains (losses) recognized on equity securities during the year $ 186 $ (57 ) Less: Net gains realized on the sale of equity securities during the period — 6 Unrealized gains (losses) recognized in equity securities held at December 31 $ 186 $ (51 ) |
Loans
Loans | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Loans | NOTE 3 - LOANS Loans at year-end were as follows: 2021 2020 Commercial & Agriculture $ 246,502 $ 409,876 Commercial Real Estate - owner occupied 295,452 278,413 Commercial Real Estate - non-owner occupied 829,310 705,072 Residential Real Estate 430,060 442,588 Real Estate Construction 157,127 175,609 Farm Real Estate 28,419 33,102 Consumer and Other 11,009 12,842 Total Loans 1,997,879 2,057,502 Allowance for loan losses (26,641 ) (25,028 ) Net loans $ 1,971,238 $ 2,032,474 Included in Commercial & Agriculture loans as of December 31, 2021 and 2020 is $43,209 and $217,295, respectively, of Paycheck Protection Program (“PPP”) loans. Included in total loans above are deferred loan fees of $2,924 and $5,998 at December 31, 2021 and 2020, respectively. Included in net deferred loan fees as of December 31, 2021 and 2020 is $1,762 and $5,194, respectively, of net deferred loan fees from PPP loans. Paycheck Protection Program In response to the novel COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act of 2020, as amended (the “CARES Act”), was signed into law on March 27, 2020, to provide national emergency economic relief measures. The CARES Act amended the loan program of the Small Business Administration (the “SBA”), in which Civista participates, to create a guaranteed, unsecured loan program, the Paycheck Protection Program (the “PPP”), to fund operational costs of eligible businesses, organizations and self-employed persons during the COVID-19 pandemic. During 2020, Civista processed over 2,300 PPP loans totaling $268.3 million. The Consolidated Appropriations Act 2021, was signed into law on December 27, 2020 to provide an additional funding of $284.5 billion under the PPP and the establishment of PPP Second Draw Loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofit, and Venues Act (the “Relief Act”). This additional funding was made available from original PPP lenders on January 19, 2021, and the deadline (as extended) for submitting applications for PPP Second Draw Loans was May 31, 2021. Funds provided under the Relief Act were earmarked both for first time PPP borrowers (subject to original PPP eligibility and limits) as well as ‘Second Draw’ Loans for borrowers that already received an original PPP loan. Additional Second Draw eligibility requirements were as follows: (1) entities must have no more than 300 employees, (2) entities must have suffered a 25% of more reduction in gross revenues between comparable quarters in 2019 and 2020, (3) some entities previously excluded are eligible for this round, such as local TV, newspaper, and radio, and (4) loan size limited to 2.5 times average monthly payroll with a maximum allowable amount of $2 million. During 2021, Civista received SBA approval on, and funded, 1,340 PPP loans totaling $131,109 under the Relief Act. Loans to principal officers, directors, and their affiliates at year-end 2021 and 2020 were as follows: 2021 2020 Balance - Beginning of year $ 8,475 $ 9,909 New loans and advances 15,522 1,153 Repayments (6,693 ) (3,004 ) Effect of changes to related parties 143 417 Balance - End of year $ 17,447 $ 8,475 The Company had credit lines to principal officers, directors, and their affiliates with an availability of $6,115 and $6,986 as of December 31, 2021 and 2020, respectively. |
Allowance for Loan Losses
Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Allowance for Loan Losses | NOTE 4 - ALLOWANCE FOR LOAN LOSSES Management has an established methodology to determine the adequacy of the allowance for loan losses that assesses the risks and losses inherent in the loan portfolio. For purposes of determining the allowance for loan losses, the Company has segmented certain loans in the portfolio by product type. Loans are segmented into the following pools: Commercial and Agriculture loans, Commercial Real Estate – Owner Occupied loans, Commercial Real Estate – Non-owner Occupied loans, Residential Real Estate loans, Real Estate Construction loans, Farm Real Estate loans and Consumer and Other loans. Loss migration rates for each risk category are calculated and used as the basis for calculating loan loss allowance allocations. Loss migration rates are calculated over a three-year period for all portfolio segments. Management also considers certain economic factors for trends that management uses to account for the qualitative and environmental changes in risk, which affects the level of the reserve. The following economic factors are analyzed: • Changes in lending policies and procedures • Changes in experience and depth of lending and management staff • Changes in quality of credit review system • Changes in the nature and volume of the loan portfolio • Changes in past due, classified and nonaccrual loans and TDRs • Changes in economic and business conditions • Changes in competition or legal and regulatory requirements • Changes in concentrations within the loan portfolio • Changes in the underlying collateral for collateral dependent loans The total allowance reflects management’s estimate of loan losses inherent in the loan portfolio at the consolidated balance sheet date. The Company considers the allowance for loan losses of $26,641 adequate to cover loan losses inherent in the loan portfolio, at December 31, 2021. The following tables present, by portfolio segment, the changes in the allowance for loan losses, the ending allocation of the allowance for loan losses and the loan balances outstanding for the years ended December 31, 2021, 2020 and 2019. The changes can be impacted by overall loan volume, adversely graded loans, historical charge-offs and economic factors. Allowance for loan losses: December 31, 2021 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 2,810 $ (15 ) $ 165 $ (360 ) $ 2,600 Commercial Real Estate: Owner Occupied 4,057 — 7 400 4,464 Non-Owner Occupied 12,451 — 395 1,014 13,860 Residential Real Estate 2,484 (120 ) 302 (69 ) 2,597 Real Estate Construction 2,439 — 1 (630 ) 1,810 Farm Real Estate 338 — 12 (63 ) 287 Consumer and Other 209 (24 ) 60 (69 ) 176 Unallocated 240 — — 607 847 Total $ 25,028 $ (159 ) $ 942 $ 830 $ 26,641 For the year ended December 31, 2021, the Company provided $830 to the allowance for loan losses, as compared to a provision of $10,112 for the year ended December 31, 2020. The decrease in the provision was due to the stability of our credit quality metrics coupled with the stabilization and, in some cases, improvement of international, national, regional and local economic conditions that were adversely impacted by the 2020 economic shutdown and restrictions in response to the ongoing COVID-19 pandemic. While vaccinations and booster shots in 2021 have created some level of optimism in the business community, there remains uncertainty due to the continued concern over increased infections from the Delta and Omicron variants of COVID. We remain cautious given the level of classified loans in the portfolio, particularly l oa For the year ended December 31, 2021, the allowance for Commercial & Agriculture loans decreased due to a decrease in general reserves required for this type as a result of a decrease in loss rates. Commercial and Agriculture loan balances decreased during the year mainly from Civista’s participation in the PPP loan program. The result was represented as a decrease in the provision. The allowance for Commercial Real Estate – Owner Occupied loans increased due to an increase in general reserves required for this type as a result of increased loan balances, offset by a decrease in classified loans balances. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Non-Owner Occupied loans increased due to an increase in general reserves required as a result of an increase in loan balances, offset by decreases in classified loan balances and loss rates. This was represented as an increase in the provision. The allowance for Residential Real Estate loans increased due to an increase in loss rates for this type of loan. The result was represented by an increase in the provision. The allowance for Real Estate Construction loans decreased due to a decrease in loan balances. This was represented as a decrease in the provision. Management feels that the unallocated amount is appropriate and within the relevant range for the allowance that is reflective of the risk in the portfolio at December 31, 2021. Allowance for loan losses: December 31, 2020 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 2,219 $ (20 ) $ 7 $ 604 $ 2,810 Commercial Real Estate: Owner Occupied 2,541 (148 ) 259 1,405 4,057 Non-Owner Occupied 6,584 — 48 5,819 12,451 Residential Real Estate 1,582 (236 ) 218 920 2,484 Real Estate Construction 1,250 — 4 1,185 2,439 Farm Real Estate 344 — 13 (19) 338 Consumer and Other 247 (61 ) 65 (42) 209 Unallocated — — — 240 240 Total $ 14,767 $ (465 ) $ 614 $ 10,112 $ 25,028 For the year ended December 31, 2020, the Company provided $10,112 to the allowance for loan losses. The provision was primarily the result of an increase in Civista’s qualitative factors, primarily changes in international, national, regional and local conditions, related to the economic shutdown driven by the ongoing COVID-19 pandemic. Economic impacts related to the COVID-19 pandemic during 2020 included the loss of revenue by our business clients, disruption of supply chains, additional employee costs for businesses due to the pandemic, higher unemployment rates throughout our footprint and a large number of customers requesting payment relief. The allowance for Commercial & Agriculture loans increased due to an increase in general reserves required for this type as a result of an increase in loan balances mainly from Civista’s participation in the PPP loan program and by an increase in loss rates, resulting in an increase in the provision. PPP loans are eligible for a 100% guaranty by the U.S. Small Business Administration (“SBA”) and, as a result, the reserve percentage for PPP loans is substantially less than the other loans in t h For the year ended December 31, 2020, the allowance for Commercial Real Estate – Owner Occupied loans increased due to an increase in general reserves required for this type as a result of higher loan balances, an increase in classified loans and the volume of loans in payment deferral, and an increase in loss rates. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Non-Owner Occupied loans increased due to an increase in general reserves required as a result of an increase in loan balances, an increase in classified loans and the volume of loans in payment deferral, and an increase in loss rates. This was represented as an increase in the provision. The allowance for Residential Real Estate loans increased due to an increase in general reserves required for this type as a result of factors related to the COVID-19 pandemic, offset by a decrease in loan balances, represented by an increase in the provision. The allowance for Real Estate Construction loans increased due to an increase in general reserves required as a result of an increase in loan balances and an increase in loss rates, represented by an increase in the provision. The allowance for Farm Real Estate loans decreased due to a decrease in general reserves required as a result of a decrease in loan balances. The result was represented as a decrease in the provision. The allowance for Consumer and Other loans decreased due to a decrease in general reserves required as a result of a decrease in loan balances and loss rates. The result was represented as a decrease in the provision. Allowance for loan losses: December 31, 2019 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 1,747 $ (114 ) $ 86 $ 500 $ 2,219 Commercial Real Estate: Owner Occupied 1,962 (161 ) 289 451 2,541 Non-Owner Occupied 5,803 — 102 679 6,584 Residential Real Estate 1,531 (294 ) 259 86 1,582 Real Estate Construction 1,046 (24 ) 3 225 1,250 Farm Real Estate 397 — 5 (58 ) 344 Consumer and Other 284 (183 ) 85 61 247 Unallocated 909 — — (909 ) — Total $ 13,679 $ (776 ) $ 829 $ 1,035 $ 14,767 For the year ended December 31, 2019, the allowance for Commercial & Agriculture loans increased as a result of an increase in general reserves due to higher loan balances. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Owner Occupied loans increased as a result of an increase in general reserves due to higher loan balances. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Non-Owner Occupied loans increased due to an increase in general reserves required for this type as a result of higher loan balances. The allowance for Residential Real Estate loans increased as a result of an increase in general reserves required for this type as a result of an increase in outstanding loan balances, represented by an increase in the provision. The allowance for Real Estate Construction loans increased due to higher outstanding loan balances for this type of loan. The allowance for Farm Real Estate loans was reduced by a decrease in general reserves required for this type as a result of lower outstanding loan balances. The result was represented as a decrease in the provision. The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of December 31, 2021 and December 31, 2020. December 31, 2021 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 2,600 $ 2,600 Commercial Real Estate: Owner Occupied — 7 4,457 4,464 Non-Owner Occupied — — 13,860 13,860 Residential Real Estate — 11 2,586 2,597 Real Estate Construction — — 1,810 1,810 Farm Real Estate — — 287 287 Consumer and Other — — 176 176 Unallocated — — 847 847 Total $ — $ 18 $ 26,623 $ 26,641 Outstanding loan balances: Commercial & Agriculture $ — $ — $ 246,502 $ 246,502 Commercial Real Estate: Owner Occupied — 187 295,265 295,452 Non-Owner Occupied — — 829,310 829,310 Residential Real Estate 290 526 429,244 430,060 Real Estate Construction — — 157,127 157,127 Farm Real Estate — 509 27,910 28,419 Consumer and Other — — 11,009 11,009 Total $ 290 $ 1,222 $ 1,996,367 $ 1,997,879 December 31, 2020 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ 73 $ 2,737 $ 2,810 Commercial Real Estate: Owner Occupied — 5 4,052 4,057 Non-Owner Occupied — — 12,451 12,451 Residential Real Estate — 29 2,455 2,484 Real Estate Construction — — 2,439 2,439 Farm Real Estate — — 338 338 Consumer and Other — — 209 209 Unallocated — — 240 240 Total $ — $ 107 $ 24,921 $ 25,028 Outstanding loan balances: Commercial & Agriculture $ — $ 74 $ 409,802 $ 409,876 Commercial Real Estate: Owner Occupied — 980 277,433 278,413 Non-Owner Occupied — 48 705,024 705,072 Residential Real Estate 388 946 441,254 442,588 Real Estate Construction — — 175,609 175,609 Farm Real Estate — 618 32,484 33,102 Consumer and Other — — 12,842 12,842 Total $ 388 $ 2,666 $ 2,054,448 $ 2,057,502 The following tables represent credit exposures by internally assigned risk ratings for the periods ended December 31, 2021 and 2020. The remaining loans in the Residential Real Estate, Real Estate Construction and Consumer and Other loan categories that are not assigned a risk grade are presented in a separate table below. The risk rating analysis estimates the capability of the borrower to repay the contractual obligations of the loan agreements as scheduled or at all. The Company’s internal credit risk rating system is based on experiences with similarly graded loans. The Company’s internally assigned grades are as follows: • Pass • Special Mention • Substandard • Doubtful • Loss • Unrated December 31, 2021 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 244,787 $ 526 $ 1,189 $ — $ 246,502 Commercial Real Estate: Owner Occupied 290,617 3,119 1,716 — 295,452 Non-Owner Occupied 764,181 28,042 37,087 — 829,310 Residential Real Estate 77,594 164 4,455 — 82,213 Real Estate Construction 136,149 260 5 — 136,414 Farm Real Estate 27,023 205 1,191 — 28,419 Consumer and Other 764 — 20 — 784 Total $ 1,541,115 $ 32,316 $ 45,663 $ — $ 1,619,094 December 31, 2020 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 401,636 $ 4,472 $ 3,768 $ — $ 409,876 Commercial Real Estate: Owner Occupied 248,316 19,429 10,668 — 278,413 Non-Owner Occupied 604,909 58,270 41,893 — 705,072 Residential Real Estate 81,409 668 5,524 — 87,601 Real Estate Construction 158,207 962 492 — 159,661 Farm Real Estate 30,486 216 2,400 — 33,102 Consumer and Other 833 — 33 — 866 Total $ 1,525,796 $ 84,017 $ 64,778 $ — $ 1,674,591 Due to the business disruptions and shut-downs due to the Covid-19 pandemic, in 2020, management offered payment deferments to a number of customers that had previously been current in all respects. Civista instituted an enhanced portfolio management process which included meeting with customers, requesting additional financial information and evaluating cashflow and adjusting risk ratings as conditions warrant. During this process we systematically downgraded a significant number of loans to recognize the increased risk attributed to the pandemic. Additionally, Civista offered longer term deferrals under Section 4013 of the Cares Act, that were also downgraded as appropriate. Based on improved financial performance the bank has upgraded 48% of criticized loans during the year. The lodging industry was hit the hardest and recovery is taking longer for that segment. Civista believes it has prudently identified risk, assigned appropriate risk ratings, and has a comprehensive portfolio management process to identify and quantify risk. The following tables present performing and nonperforming loans based solely on payment activity for the years ended December , and December , that have not been assigned an internal risk grade. The types of loans presented here are not assigned a risk grade unless there is evidence of a problem. Payment activity is reviewed by management on a monthly basis to evaluate performance. Loans are considered to be nonperforming when they become days past due or if management thinks that we may not collect all of our principal and interest. Nonperforming loans also include certain loans that have been modified in Troubled Debt Restructurings (TDRs) where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company’s loss activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions due to economic status. Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally . December 31, 2021 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 347,847 $ 20,713 $ 10,225 $ 378,785 Nonperforming — — — — Total $ 347,847 $ 20,713 $ 10,225 $ 378,785 December 31, 2020 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 354,987 $ 15,948 $ 11,976 $ 382,911 Nonperforming — — — — Total $ 354,987 $ 15,948 $ 11,976 $ 382,911 The following tables include an aging analysis of the recorded investment of past due loans outstanding as of December 31, 2021 and 2020. December 31, 2021 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Total Past Due Current Purchased Credit- Impaired Loans Total Loans Past Due 90 Days and Accruing Commercial & Agriculture $ 249 $ 13 $ 78 $ 340 $ 246,162 $ — $ 246,502 $ — Commercial Real Estate: Owner Occupied — — 106 106 295,346 — 295,452 — Non-Owner Occupied — — 4 4 829,306 — 829,310 — Residential Real Estate 1,848 879 842 3,569 426,201 290 430,060 — Real Estate Construction — — — — 157,127 — 157,127 — Farm Real Estate — — — — 28,419 — 28,419 — Consumer and Other 42 — 9 51 10,958 — 11,009 — Total $ 2,139 $ 892 $ 1,039 $ 4,070 $ 1,993,519 $ 290 $ 1,997,879 $ — December 31, 2020 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Total Past Due Current Purchased Credit- Impaired Loans Total Loans Past Due 90 Days and Accruing Commercial & Agriculture $ 117 $ 25 $ 50 $ 192 $ 409,684 $ — $ 409,876 $ — Commercial Real Estate: Owner Occupied — 4 102 106 278,307 — 278,413 — Non-Owner Occupied — — 6 6 705,066 — 705,072 — Residential Real Estate 1,059 867 1,314 3,240 438,960 388 442,588 — Real Estate Construction — — — — 175,609 — 175,609 — Farm Real Estate — — 4 4 33,098 — 33,102 — Consumer and Other 59 1 16 76 12,766 — 12,842 — Total $ 1,235 $ 897 $ 1,492 $ 3,624 $ 2,053,490 $ 388 $ 2,057,502 $ — The following table presents loans on nonaccrual status, excluding purchased credit-impaired (PCI) loans, as of December 31, 2021 and 2020. 2021 2020 Commercial & Agriculture $ 78 $ 139 Commercial Real Estate: Owner Occupied 334 964 Non-Owner Occupied 4 6 Residential Real Estate 3,232 3,893 Real Estate Construction 5 7 Farm Real Estate — 85 Consumer and Other 20 31 Total $ 3,673 $ 5,125 Nonaccrual Loans: Modifications: Real Estate loans modified in a TDR often involve reducing the interest rate lower than the current market rate for new debt with similar risk. Real Estate loans modified in a TDR were primarily comprised of interest rate reductions where monthly payments were lowered to accommodate the borrowers’ financial needs. Loans modified in a TDR are typically already on non-accrual status and partial charge-offs have in some cases already been taken against the outstanding loan balance. As a result, loans modified in a TDR may have the financial effect of increasing the specific allowance associated with the loan. An allowance for impaired loans that have been modified in a TDR are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the estimated fair value of the collateral, less any selling costs, if the loan is collateral dependent. Management exercises significant judgment in developing these estimates. TDRs accounted for $18 of the allowance for loan losses as of December 31, 2021, $35 as of December 31, 2020 and $91 as of December 31, 2019. Loan Modifications/Troubled Debt Restructurings In the second quarter of 2020, in the initial days of the pandemic, Civista booked 90-day payment modifications on 813 loans with an aggregate principal balance outstanding of $431.3 million. Additional 90-day modifications were extended on 100 loans with an aggregate principal balance outstanding of $124.4 million. Both deferral programs primarily consisted of the deferral of principal and/or interest payments. All such modified loans were performing at December 31, 2019 and complied with the provisions of the CARES Act to not be considered a TDR. As of December 31, 2021, Civista had 7 loans with an aggregate principal balance outstanding of $5,142 that remained on CARES Act modifications. Details with respect to loan modifications that remain on deferred status are as follows: Type of Loan Number of Balance Percent of 1 (In thousands) Commercial & Agriculture 2 $ 498 0.03 % Commercial Real Estate: Non-Owner Occupied 5 4,644 0.24 % Total 7 $ 5,142 0.26 % 1 There were no loans modified during the twelve month period ended December 31, 2021 and 2020. Loan modifications that are considered TDRs completed during the twelve month periods ended December 31, 2019 were as follows: For the Twelve Month Period Ended December 31, 2019 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied 1 382 382 Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 382 $ 382 Recidivism, or the borrower defaulting on its obligation pursuant to a modified loan, results in the loan once again becoming a non-accrual loan. Recidivism occurs at a notably higher rate than do defaults on new originations loans, so modified loans present a higher risk of loss than do new origination loans. During the periods ended December 31, 2021, 2020 and 2019, there were no defaults on loans that were modified and considered TDRs during the previous twelve months. Impaired Loans: The following table includes the recorded investment and unpaid principal balances for impaired financing receivables, excluding PCI loans, with the associated allowance amount, if applicable, as of December 31, 2021 and 2020. December 31, 2021 December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial Real Estate: Owner Occupied $ — $ — $ 757 $ 757 Non-Owner Occupied — — 48 48 Residential Real Estate 503 528 915 940 Farm Real Estate 509 509 618 618 Total 1,012 1,037 2,338 2,363 With an allowance recorded: Commercial & Agriculture — — $ — 74 74 $ 73 Commercial Real Estate: Owner Occupied 187 187 7 223 223 5 Residential Real Estate 23 27 11 31 35 29 Total 210 214 18 328 332 107 Total: Commercial & Agriculture — — — 74 74 73 Commercial Real Estate: Owner Occupied 187 187 7 980 980 5 Non-Owner Occupied — — — 48 48 — Residential Real Estate 526 555 11 946 975 29 Farm Real Estate 509 509 — 618 618 — Total $ 1,222 $ 1,251 $ 18 $ 2,666 $ 2,695 $ 107 The following tables include the average recorded investment and interest income recognized for impaired financing receivables as of, and for the years ended, December 31, 2021, 2020 and 2019. For the year ended: December 31, 2021 December 31, 2020 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 15 $ — $ 88 $ 4 Commercial Real Estate: Owner Occupied 396 18 520 27 Non-Owner Occupied 23 1 243 16 Residential Real Estate 629 31 1,361 43 Farm Real Estate 569 24 647 26 Total $ 1,632 $ 74 $ 2,859 $ 116 For the year ended: December 31, 2019 Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 367 $ 33 Commercial Real Estate: Owner Occupied 456 32 Non-Owner Occupied 308 20 Residential Real Estate 1,271 58 Farm Real Estate 683 29 Total $ 3,085 $ 172 Foreclosed assets acquired in settlement of loans are carried at fair value less estimated costs to sell and are included in other assets on the Consolidated Balance Sheet. As of December 31, 2021, there were no foreclosed assets included in other assets. As of December 31, 2020, there were $31 of foreclosed assets included in other assets. As of December 31, 2020 and 2019, the Company had initiated formal foreclosure procedures on $293 and $741, respectively, of Residential Real Estate loans. Changes in the amortizable yield for PCI loans were as follows, since acquisition: At December 31, 2021 At December 31, 2020 (In Thousands) (In Thousands) Balance at beginning of period $ 225 $ 255 Acquisition of PCI loans — — Accretion (77 ) (336 ) Transfers from non-accretable to accretable 69 306 Balance at end of period $ 217 $ 225 The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30: At December 31, 2021 At December 31, 2020 Acquired Loans with Specific Evidence of Deterioration of Credit Quality (ASC 310-30) Acquired Loans with Specific Evidence of Deterioration of Credit Quality (ASC 310-30) (In Thousands) Outstanding balance $ 512 $ 687 Carrying amount 290 388 There was no allowance for loan losses recorded for acquired loans with or without specific evidence of deterioration in credit quality as of December 31, 2021 and 2020, respectively. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) | NOTE 5 - OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the components of other comprehensive income (loss), net of tax, as of December 31, 2021, 2020 and 2019: Before Tax Tax Effect Net of Tax Year Ended December 31, 2021 Net unrealized Gains (Losses) on Investment Securities: Other comprehensive income (loss) before reclassifications $ (8,570 ) $ (1,799 ) $ (6,771 ) Amounts reclassified from accumulated other comprehensive income (loss) (1 ) — (1 ) Net Unrealized Gains (Losses) on Investment Securities (8,571 ) (1,799 ) (6,772 ) Defined Benefit Plans: Other comprehensive income (loss) before reclassifications 992 209 783 Amounts reclassified from accumulated other comprehensive income (loss) 240 50 190 Defined Benefit Plans, Net 1,232 259 973 Other Comprehensive Income $ (7,339 ) $ (1,540 ) $ (5,799 ) Year Ended December 31, 2020 Net unrealized Gains (Losses) on Investment Securities: Other comprehensive income (loss) before reclassifications $ 10,935 $ 2,297 $ 8,638 Amounts reclassified from accumulated other comprehensive income (loss) (94 ) (20 ) (74 ) Net Unrealized Gains on Investment Securities 10,841 2,277 8,564 Defined Benefit Plans: Other comprehensive income (loss) before reclassifications (1,326 ) (279 ) (1,047 ) Amounts reclassified from accumulated other comprehensive income (loss) 289 61 228 Defined Benefit Plans, Net (1,037 ) (218 ) (819 ) Other Comprehensive Income $ 9,804 $ 2,059 $ 7,745 Year Ended December 31, 2019 Net unrealized Gains (Losses) on Investment Securities: Other comprehensive income (loss) before reclassifications $ 13,368 $ 2,807 $ 10,561 Amounts reclassified from accumulated other comprehensive income (loss) (32 ) (7 ) (25 ) Net Unrealized Losses on Investment Securities 13,336 2,800 10,536 Defined Benefit Plans: Other comprehensive income (loss) before reclassifications (2,953 ) (620 ) (2,333 ) Amounts reclassified from accumulated other comprehensive income (loss) 156 33 123 Defined Benefit Plans, Net (2,797 ) (587 ) (2,210 ) Other Comprehensive Loss $ 10,539 $ 2,213 $ 8,326 The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, as of December 31, 2021, 2020 and 2019. For the Year Ended December 31, 2021 For the Year Ended December 31, 2020 For the Year Ended December 31, 2019 Unrealized Gains and Losses on Available for Sale Securities Defined Benefit Pension Items Total Unrealized Gains and Losses on Available for Sale Securities Defined Benefit Pension Items Total Unrealized Gains and Losses on Available for Sale Securities Defined Benefit Pension Items Total Beginning balance $ 21,447 $ (6,828 ) $ 14,619 $ 12,883 $ (6,009 ) $ 6,874 $ 2,347 $ (3,799 ) $ (1,452 ) Other comprehensive income (loss) before reclassifications (6,771 ) 783 (5,988 ) 8,638 (1,047 ) 7,591 10,561 (2,333 ) 8,228 Amounts reclassified from accumulated other comprehensive income (loss) (1 ) 190 189 (74 ) 228 154 (25 ) 123 98 Net current-period other comprehensive income (loss) (6,772 ) 973 (5,799 ) 8,564 (819 ) 7,745 10,536 (2,210 ) 8,326 Ending balance $ 14,675 $ (5,855 ) $ 8,820 $ 21,447 $ (6,828 ) $ 14,619 $ 12,883 $ (6,009 ) $ 6,874 The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss as of December 31, 2021, 2020 and 2019. Amount Reclassified from Accumulated Other Comprehensive Loss (a) For the year ended December 31, Details about Accumulated Other Comprehensive Income (Loss) Components 2021 2020 2019 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains (losses) on available $ 1 $ 94 $ 32 Net gain on sale of securities Tax effect — (20 ) (7 ) Income taxes 1 74 25 Amortization of defined benefit pension items Actuarial losses (240 )(b) (289 )(b) (156 )(b) Other operating expenses Tax effect 50 61 33 Income taxes (190 ) (228 ) (123 ) Total reclassifications for the period $ (189 ) $ (154 ) $ (98 ) (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | NOTE 6 - PREMISES AND EQUIPMENT Year-end premises and equipment were as follows: At December 31, 2021 2020 Land and improvements $ 6,970 $ 6,879 Buildings and improvements 29,305 28,835 Furniture and equipment 23,786 22,849 Total 60,061 58,563 Accumulated depreciation (37,616 ) (35,983 ) Premises and equipment, net $ 22,445 $ 22,580 Depreciation expense was $1,976, $2,253 and $2,240 for 2021, 2020 and 2019, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | NOTE 7 - GOODWILL AND INTANGIBLE ASSETS There was no change in the carrying amount of goodwill of $76,851 for the year ended December 31, 2021 and December 31, 2020. Management performs an evaluation of goodwill for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Management performed an evaluation of the Company’s goodwill during the fourth quarter of 2021. Based on this test, management concluded that the Company’s goodwill was not impaired at December 31, 2021. Acquired intangible assets were as follows as of year-end. 2021 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Core deposit intangible assets(1): Core deposit intangibles 8,527 3,588 4,939 14,792 8,963 5,829 Total core deposit intangible assets $ 8,527 $ 3,588 $ 4,939 $ 14,792 $ 8,963 $ 5,829 (1) Excludes fully amortized core deposit intangible assets Aggregate core deposit intangible amortization expense was $890, $913 and $945 for 2021, 2020 and 2019, respectively. Activity for mortgage servicing rights (MSRs) and the related valuation allowance follows: 2021 2020 Mortgage Servicing Rights: Beginning of year $ 2,246 $ 1,562 Additions 764 1,310 Disposals — — Amortized to expense 572 524 Other Charges — — Change in valuation allowance (204 ) 102 End of year $ 2,642 $ 2,246 Valuation allowance: Beginning of year $ 204 $ 102 Additions expensed 261 162 Reductions credited to operations (465 ) (60 ) Direct write-offs — — End of year $ — $ 204 The unpaid principal balance of mortgage loans serviced for third parties was $405,786 at December 31, 2021, compared to $353,473 at December 31, 2020 and $206,950 at December 31, 2019. Aggregate mortgage servicing rights (MSRs) amortization was $572, $524 and $247 for 2021, 2020 and 2019, respectively. Mortgage loan contractual servicing fees were $947, $634 and $502 for 2021, 2020 and 2019, respectively. Mortgage loan contractual servicing fees are included in Other income on the Consolidated Statements of Operations. The fair value of servicing rights was $2,642 and $2,246 at year-end 2021 and 2020, respectively. Fair value at year-end 2021 was determined using a discount rate of 12.0%, prepayment speeds ranging from 8.0% to 35.0%, depending on the stratification of the specific right, and a weighted average default rate of 0.41%. Fair value at year-end 2020 was determined using a discount rate of 12.0%, prepayment speeds ranging from 12.0% to 50.0%, depending on the stratification of the specific right, and a default rate of 0.93%. Estimated amortization expense for each of the next five years and thereafter is as follows: MSRs Core deposit intangibles Total 2022 $ 137 $ 868 $ 1,005 2023 137 841 978 2024 137 804 941 2025 137 708 845 2026 135 670 805 Thereafter 1,959 1,048 3,007 $ 2,642 $ 4,939 $ 7,581 |
Interest-Bearing Deposits
Interest-Bearing Deposits | 12 Months Ended |
Dec. 31, 2021 | |
Deposits [Abstract] | |
Interest-Bearing Deposits | NOTE 8 - INTEREST-BEARING DEPOSITS Interest-bearing deposits as of December 31, 2021 and 2020 were as follows: 2021 2020 Demand $ 537,510 $ 410,139 Savings and Money markets 843,837 771,612 Certificates of Deposit: $250 and over 55,011 70,989 Other 149,521 169,453 Individual Retirement Accounts 41,916 46,396 Total $ 1,627,795 $ 1,468,589 Scheduled maturities of certificates of deposit, including IRAs at December 31, 2021 were as follows: 2022 $ 173,834 2023 45,195 2024 18,810 2025 3,829 2026 3,596 Thereafter 1,184 Total $ 246,448 Deposits from the Company’s principal shareholders, officers, directors, and their affiliates at year-end 2021 and 2020 were $7,690 and $12,487, respectively. As of December 31, 2021, CDs and IRAs totaling $58,367 met or exceeded the FDIC’s insurance limit of $250,000. As of December 31, 2021, brokered deposits totaled $26,610. |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | NOTE 9 - SHORT-TERM BORROWINGS Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows: At December 31, 2021 At December 31, 2020 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Outstanding balance at year end $ — $ — $ — $ — Maximum indebtedness during the year 50,000 — 50,000 102,700 Average balance during the year 137 — 228 8,151 Average rate paid during the year 0.73 % — 0.35 % 1.64 % Interest rate on year end balance — — — — At December 31, 2019 Federal Funds Purchased Short-term Borrowings Outstanding balance at year end $ — $ 101,500 Maximum indebtedness during the year 20,000 192,700 Average balance during the year 137 112,088 Average rate paid during the year 2.19 % 2.32 % Interest rate on year end balance — 1.63 % Average balances during the year represent daily averages. Average interest rates represent interest expense divided by the related average balances. These borrowing transactions can range from overnight to six months in maturity. At December 31, 2021 and 2020, there were no short-term borrowings with outstanding balances. The average maturity was one day at December 31, 2019. |
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances | 12 Months Ended |
Dec. 31, 2021 | |
Advances from Federal Home Loan Banks [Abstract] | |
Federal Home Loan Bank Advances | NOTE 10 - FEDERAL HOME LOAN BANK ADVANCES Long-term advances from the FHLB were $75,000 and $125,000 at December 31, 2021 and December 31, 2020, respectively. Outstanding balances have a maturity date of October 2029 with fixed rate of 1.03%. The average rate on outstanding advances was 1.03% at December 31, 2021. Outstanding advances are prepayable in whole only and are subject to a termination fee. The Company has one long-term advance, with a put options. The advance is in the amount of $75,000 and is puttable beginning October 2020 and every quarter thereafter. During the second quarter of 2021, the Company prepaid a $50,000 advance with a rate of 2.05% and a remaining maturity of approximately 8 years at a pre-tax loss of approximately $3,717. The prepayment penalty of $3,717 was recorded in other operating expenses on the Consolidated Statements of Operations. Scheduled principal reductions of FHLB advances outstanding at December 31, 2021 were as follows: 2029 $ 75,000 Total $ 75,000 In addition to the borrowing, the Company had outstanding letters of credit with the FHLB totaling $21,300 and $20,000 at year-end 2021 and 2020, respectively, used for pledging to secure public funds. FHLB borrowings and the letters of credit were collateralized by FHLB stock and by $737,389 and $217,500 of residential mortgage loans under a blanket lien arrangement at year-end 2021 and 2020, respectively. The Company had a FHLB maximum borrowing capacity of $677,834 as of December 31, 2021, with remaining borrowing capacity of approximately $581,534. The borrowing arrangement with the FHLB is subject to annual renewal. The maximum borrowing capacity is recalculated at least quarterly. |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2021 | |
Brokers and Dealers [Abstract] | |
Securities Sold Under Agreements to Repurchase | NOTE 11 - SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase are used to facilitate the needs of our customers as well as to facilitate our short-term funding needs. Securities sold under repurchase agreements are carried at the amount of cash received in association with the agreement. We continuously monitor the collateral levels and may be required, from time to time, to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of December 31, 2021 and 2020. All of the repurchase agreements are overnight agreements. December 31, December 31, Securities pledged for repurchase agreements: U.S. Treasury securities $ 16,478 $ 899 Obligations of U.S. government agencies 9,017 28,015 Total securities pledged $ 25,495 $ 28,914 Gross amount of recognized liabilities for repurchase agreements $ 25,495 $ 28,914 Amounts related to agreements not included in offsetting disclosures above $ — $ — Information concerning securities sold under agreements to repurchase was as follows: 2021 2020 2019 Outstanding balance at year end $ 25,495 $ 28,914 $ 18,674 Average balance during the year 24,390 24,390 18,321 Average interest rate during the year 0.09 % 0.10 % 0.10 % Maximum month-end balance during the year $ 34,200 $ 31,885 $ 21,970 Weighted average interest rate at year end 0.05 % 0.10 % 0.10 % |
Subordinated Debentures
Subordinated Debentures | 12 Months Ended |
Dec. 31, 2021 | |
Brokers and Dealers [Abstract] | |
Subordinated Debentures | NOTE 12 - SUBORDINATED DEBENTURES On November 30, 2021, the Company entered into a Subordinated Note Purchase Agreement pursuant to which the Company sold and issued $75,000 aggregate principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031. The Notes have a stated maturity of December 31, 2031 The Notes will initially bear interest at a fixed rate of 3.25% per annum, from and including November 30, 2021, to but excluding December 1, 2026, with interest payable semi-annually in arrears. From and including December 1, 2026, to but excluding the stated maturity date or early redemption date, the interest rate will reset quarterly to an annual floating rate equal to the then-current benchmark rate, which will initially be the three-month Secured Overnight Financing Rate (SOFR) plus 219 basis points, with interest during such period payable quarterly in arrears. If three-month SOFR cannot be determined during the applicable floating rate period, a different index will be determined and used in accordance with the terms of the Notes and underlying Indenture. Prior to December 1, 2026, the Company may redeem the Notes, in whole but not in part, only under certain limited circumstances as set forth in the Indenture. On or after December 1, 2026, the Company may, at its option, redeem the Notes, in whole or in part, on any interest payment date, subject to the receipt of any required regulatory approvals. Any redemption by the Company would be at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. Trusts formed by the Company in March of 2002 and March of 2003 issued floating rate trust preferred securities, in the amounts of $5,000 and $7,500, respectively, through special purpose entities as part of pooled offerings of such securities. The Company issued subordinated debentures to the trusts in exchange for the proceeds of the offerings, which debentures represent the sole assets of the trusts. The Company may redeem the subordinated debentures, in whole but not in part, at face value. In March 2007, the Company elected to redeem and refinance the $5,000 floating rate subordinated debenture. The refinancing was done at face value and resulted in a 2.00% reduction in the floating rate. The new subordinated debenture has a 30-year maturity and is redeemable, in whole or in part, anytime without penalty. The replacement subordinated debenture does not have any deferred issuance cost associated with it. At December 31, 2021, the interest rate on the $7,500 debenture was 3.28% and the interest rate on the $5,000 debenture was 1.72%. Both debentures are indexed to the 3-month LIBOR. Additionally, the Company formed an additional trust in September of 2004 that issued $12,500 of 6.05% fixed rate trust preferred securities for five years, then becoming floating rate trust preferred securities, through a special purpose entity as part of a pooled offering of such securities. The Company issued subordinated debentures to the trusts in exchange for the proceeds of the offerings, which debentures represent the sole assets of the trusts. The Company may redeem the subordinated debentures at face value without penalty. At December 31, 2021, the interest rate on the $12,500 subordinated debenture was 2.37%. The debenture is indexed to the 3-month LIBOR . Finally, the Company acquired two additional trust preferred securities as part of its acquisition of Futura Banc Corp (Futura) in December 2007. Futura TPF Trust I and Futura TPF Trust II were formed in June of 2005 in the amounts of $2,500 and $1,927, respectively. Futura had issued subordinated debentures to the trusts in exchange for ownership of all of the common security of the trusts and the proceeds of the preferred securities sold by the trusts. The Company may redeem the subordinated debentures, in whole or in part, in a principal amount with integral multiples of $1,000, at 100% of the principal amount, plus accrued and unpaid interest. The subordinated debentures mature on June 15, 2035. The subordinated debentures are also redeemable in whole or in part from time to time, upon the occurrence of specific events defined within the trust indenture. At December 31, 2021, the interest rate on the $2,500 subordinated debenture was variable at 1.78%. The debenture is indexed to the 3-month LIBOR In June 2010, the rate on the $1,927 subordinated debenture switched from a fixed rate to a floating rate. At December 31, 2021, the interest rate on the $1,927 subordinated debenture was 1.78%. The debenture is indexed to the 3-month LIBOR. Subordinated debentures in the amount of $102,813 will mature 5 years and thereafter. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 13 - INCOME TAXES Income taxes were as follows for the years ended December 31: 2021 2020 2019 Current $ 5,111 $ 6,947 $ 4,713 State 587 270 307 Deferred 1,319 (2,277 ) 663 Income taxes $ 7,017 $ 4,940 $ 5,683 Effective tax rates differed from the statutory federal income tax rate of 21% in 2021, 2020 and 2019 due to the following: 2021 2020 2019 Income taxes computed at the statutory federal tax rate $ 9,988 $ 7,798 $ 8,308 Add (subtract) tax effect of: Nontaxable interest income, net of nondeductible interest expense (1,315 ) (1,293 ) (1,194 ) Low income housing tax credit (1,402 ) (1,186 ) (903 ) Cash surrender value of BOLI (252 ) (205 ) (211 ) Change in tax position BOLI — — (353 ) Other (2 ) (174 ) 36 Income tax expense $ 7,017 $ 4,940 $ 5,683 Year-end deferred tax assets and liabilities were due to the following: 2021 2020 Deferred tax assets Allowance for loan losses $ 5,595 $ 5,256 Deferred compensation 1,213 1,201 Pension costs 56 304 Intangible assets 231 312 Net operating loss carryforward — 509 Deferred loan fees 614 1,260 Other 713 745 Deferred tax asset 8,422 9,587 Deferred tax liabilities Tax depreciation in excess of book depreciation (973 ) (851 ) Discount accretion on securities (86 ) (10 ) FHLB stock dividends (969 ) (969 ) Unrealized gain on securities available for sale (3,806 ) (5,606 ) Prepaids (276 ) (325 ) Other (1,243 ) (979 ) Deferred tax liability (7,353 ) (8,740 ) Net deferred tax asset $ 1,069 $ 847 No valuation allowance was established at December 31, 2021 and 2020, due to the Company’s ability to carryforward net operating losses to taxes paid in future years and certain tax strategies, coupled with the anticipated future income as evidenced by the Company’s earning potential. The Company and its subsidiaries are subject to U.S. federal income tax. The Company is subject to tax in Ohio based upon its net worth and in Indiana based upon its net income. There is currently no liability for uncertain tax positions and no known unrecognized tax benefits. The Company’s federal tax returns for taxable years through 201 7 |
Retirement Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2021 | |
Retirement Benefits [Abstract] | |
Retirement Plans | NOTE 14 - RETIREMENT PLANS The Company sponsors a savings and retirement 401(k) plan, which covers all employees who meet certain eligibility requirements and who choose to participate in the plan. The matching contribution to the 401(k) plan was $1,258, $1,226 and $1,074 in 2021, 2020 and 2019, respectively. The Company’s matching contribution is 100% of an employee’s first three percent contributed and 50% of the next two percent contributed. The Company also sponsors a pension plan which is a noncontributory defined benefit retirement plan for all employees who have attained the age of 20 1/2 , completed months of service and work 1,000 or more hours per year. Annual payments, subject to the maximum amount deductible for federal income tax purposes, are made to a pension trust fund. In 2006, the Company amended the pension plan to provide that no employee could be added as a participant to the pension plan after December 31, 2006. In April 2014, the Company amended the pension plan again to provide that additional benefits would accrue beyond April , . In October 2015, the Company, on behalf of it and its subsidiaries, entered into Pension Shortfall Agreements (the “Shortfall Agreements”) with ten plan. Information about the pension plan is as follows: 2021 2020 Change in benefit obligation: Beginning benefit obligation $ 16,656 $ 15,570 Service cost — — Interest cost 378 484 Curtailment gain — — Settlement loss — — Actuarial (gain)/loss (921 ) 1,898 Benefits paid (711 ) (1,296 ) Settlement payments (18 ) — Ending benefit obligation 15,384 16,656 Change in plan assets, at fair value: Beginning plan assets 15,257 15,183 Actual return 574 1,370 Employer contribution — — Benefits paid (711 ) (1,296 ) Settlement payments — — Administrative expenses — — Ending plan assets 15,120 15,257 Funded status at end of year $ (264 ) $ (1,399 ) Amounts recognized in accumulated other comprehensive income (loss) at December 31, consist of unrecognized actuarial loss of $5,855, net of $1,556 tax in 2021 and $6,828, net of $1,815 tax in 2020. The accumulated benefit obligation for the defined benefit pension plan was $15,384 at December 31, 2021 and $16,656 at December 31, 2020. The components of net periodic pension expense were as follows: 2021 2020 2019 Service cost $ — $ — $ — Interest cost 378 484 479 Expected return on plan assets (574 ) (748 ) (811 ) Net amortization and deferral 240 289 156 Net periodic pension cost (benefit) 44 25 (176 ) Additional loss due to settlement — — 0 Total pension cost (benefit) $ 44 $ 25 $ (176 ) Net loss (gain) recognized in other comprehensive income $ (854 ) $ 986 $ 2,798 Total recognized in net periodic benefit cost and other comprehensive loss (before tax) $ (810 ) $ 1,011 $ 2,622 The components of net periodic benefit cost other than the service cost component are included in the line item “other operating expenses” in the Consolidated Statement of Operations. The estimated net loss for the defined benefit pension plan that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year is $240. The Company incurred settlement costs in 2021, 2020 and 2019 of $(18), $0 and $0, respectively. The weighted average assumptions used to determine benefit obligations at year-end were as follows: 2021 2020 2019 Discount rate on benefit obligation 2.74 % 2.39 % 3.13 % Long-term rate of return on plan assets 3.84 % 4.44 % 4.96 % Rate of compensation increase 0.00 % 0.00 % 0.00 % The weighted average assumptions used to determine net periodic pension cost were as follows: 2021 2020 2019 Discount rate on benefit obligation 2.39 % 3.13 % 4.14 % Long-term rate of return on plan assets 4.44 % 4.96 % 7.00 % Rate of compensation increase 0.00 % 0.00 % 0.00 % The Company uses long-term market rates to determine the discount rate on the benefit obligation. Declines in the discount rate lead to increases in the actuarial loss related to the benefit obligation. The expectation for long-term rate of return on the pension assets and the expected rate of compensation increases are reviewed periodically by management in consultation with outside actuaries and primary investment consultants. Factors considered in setting and adjusting these rates are historic and projected rates of return on the portfolio and historic and estimated rates of increases of compensation. Since the pension plan is frozen, the rate of compensation increase used to determine the benefit obligation for 2021, 2020 and 2019 was zero. The Company’s pension plan asset allocation at year-end 2021 and 2020 and target allocation for 2022 by asset category are as follows: Target Allocation Percentage of Plan Assets at Year-end Asset Category 2022 2021 2020 Equity securities 0-30 % 20.0 % 20.0 % Debt securities 70-100 80.0 80.0 Total 100.0 % 100.0 % The Company developed the pension plan investment policies and strategies for plan assets with its pension management firm. The assets are currently invested in seven diversified investment funds, which include four equity funds and three bond funds. The long-term guidelines from above were created to maximize the return on portfolio assets while reducing the risk of the portfolio. The management firm may allocate assets among the separate accounts within the established long-term guidelines. Transfers among these accounts will be at the management firm’s discretion based on their investment outlook and the investment strategies that are outlined at periodic meetings with the Company. The expected long-term rate of return on the plan assets was 3.84% in 2021 and 4.44% in 2020. This return is based on the expected return for each of the asset categories, weighted based on the target allocation for each class. The Company does not expect to make any contribution to its pension plan in 2022. Employer contributions totaled $0 in 2021 and 2020. A decrease in the benefit obligations and actuarial gains led to a decrease in the deficit from $1,399 at December 31, 2020 to a deficit of $264 at December 31, 2021. Common/Collective Trust Funds Valued at the daily NAV as reported by the funds. These funds are not traded in an active market or exchange, and the NAV per unit is calculated by dividing the net assets of the fund by the number of units outstanding, which includes observable inputs. The method described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation method is appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient are not required to be categorized in the fair value hierarchy tables. Fair Value of Investments in Entities That Use NAV The following table summarizes investments measured at fair value based on NAV per share as of December 31, 2021 and 2020, respectively: December 31, 2021 Fair Value Unfunded Redemption Redemption Common/collective trust funds $ 15,120 N/A Daily Dail December 31, 2020 Fair Unfunded Redemption Redemption Common/collective trust funds $ 15,257 N/A Daily Dail The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Pension Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. 2022 $ 246 2023 288 2024 327 2025 391 2026 491 2027 through 2031 3,100 Total $ 4,843 Supplemental Retirement Plan Civista established a supplemental retirement plan (“SERP”) in 2013, which covers key members of management. Under the SERP, participants will receive annually, following retirement, a percentage of their base compensations at the time of their retirement for a maximum of ten years. The SERP liability recorded at December 31, 2021, was $3,334, compared to $3,097 at December 31, 2020. The expense related to the SERP was $404, $429 and $394 for 2021, 2020 and 2019, respectively. Distributions to participants made in 2021, 2020 and 2019 totaled $167, $168, and $128, respectively. |
Equity Incentive Plan
Equity Incentive Plan | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Equity Incentive Plan | NOTE 15 - EQUITY INCENTIVE PLAN At the Company’s 2014 annual meeting, the shareholders adopted the Company’s 2014 Incentive Plan (“2014 Incentive Plan”). The 2014 Incentive Plan authorizes the Company to grant options, stock awards, stock units and other awards for up to 375,000 common shares of the Company. There were 154,123 shares available for grants under this plan at December 31, 2021. No options had been granted under the 2014 Incentive Plan as of December 31, 2021 and 2020. In recent years, the Board of Directors has awarded restricted common shares to senior officers of the Company. The restricted shares vest ratably over a three-year period following the grant date. The product of the number of restricted shares granted and the grant date market price of the Company’s common shares determines the fair value of restricted shares under the Company’s 2014 Incentive Plan. Management recognizes compensation expense for the fair value of restricted shares on a straight-line basis over the requisite service period for the entire award. During the twelve months ended December 31, 2021, 2020 and 2019, directors of the Company’s banking subsidiary, Civista, were paid a retainer in the form of non-restricted common shares of the Company. The aggregate common shares of 8,792, 14,266 and 8,946, respectively were issued to Civista directors as payment of their retainer for their service on the Civista Board of Directors. The issuances were expensed in their entirety when the shares were issued in the amounts of $196, $196 and $196, respectively. The Company includes share-based compensation for employees as “Compensation expense” in the Consolidated Statements of Operations. The following is a summary of the status of the Company’s restricted shares, and changes therein during the twelve months ended December 31, 2021: December 31, 2021 Number of Restricted Shares Weighted Average Grant Date Fair Value Nonvested at beginning of period 54,274 $ 20.90 Granted 39,139 19.17 Vested (20,275 ) 20.35 Forfeited (3,298 ) 19.74 Nonvested at end of period 69,840 20.14 The following is a summary of the status of the Company’s awarded restricted shares as of December 31, 2021: At December 31, 2021 Date of Award Shares Remaining Expense Remaining Vesting Period (Years) March 20, 2017 1,198 $ — 0.00 April 10, 2018 3,114 31 1.00 March 14, 2019 3,174 — 0.00 March 14, 2019 6,560 79 2.00 March 14, 2020 8,595 85 1.00 March 14, 2020 10,390 148 3.00 March 3, 2021 16,277 226 4.00 March 3, 2021 20,532 262 2.00 69,840 $ 831 2.30 During the twelve months ended December 31, 2021, 2020 and 2019, the Company recorded share-based compensation expense of $506, $421 and $335, respectively, and director retainer fees of $196, $196 and $196, respectively, for shares granted under the 2014 Incentive Plan. At December 31, 2021, the total compensation cost related to unvested awards not yet recognized was $831, which is expected to be recognized over the weighted average remaining life of the grants of 2.30 years. |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 16 - FAIR VALUE MEASUREMENT U.S. generally accepted accounting principles establish a hierarchal disclosure framework associated with the level of observable pricing utilized in measuring assets and liabilities at fair value. The three broad levels defined by the hierarchy are as follows: Level 1: Quoted prices for identical assets in active markets that are identifiable on the measurement date; Level 2: Significant other observable inputs, such as quoted prices for similar assets, quoted prices in markets that are not active and other inputs that are observable or can be corroborated by observable market data; Level 3: Significant unobservable inputs that reflect the Company’s own view about the assumptions that market participants would use in pricing an asset. Securities: Equity securities: Fair value swap asset/liability: Impaired loans: Mortgage servicing rights: Other real estate owned: Assets and liabilities measured at fair value are summarized below. Fair Value Measurements at December 31, 2021 using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: Securities available for sale U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 47,890 $ — Obligations of states and political subdivisions — 298,836 — Mortgage-backed securities in government sponsored entities — 213,148 — Total securities available for sale — 559,874 — Equity securities — 1,072 — Swap asset — 11,072 — Liabilities measured at fair value on a recurring basis: Swap liability — 11,072 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 11 Mortgage servicing rights — — 2,642 Fair Value Measurements at December 31, 2020 using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: Securities available for sale U.S. Treasury securities and obligations of $ — $ 21,693 $ — Obligations of states and political subdivisions — 229,012 — Mortgage-backed securities in government — 112,759 — Total securities available for sale — 363,464 — Equity securities — 886 — Swap asset — 21,700 — Liabilities measured at fair value on a recurring Swap liability — 21,764 — Assets measured at fair value on a nonrecurring Impaired Loans $ — $ — $ 1 Mortgage servicing rights — — 2,246 Other Real Estate Owned — — 31 The following tables presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2021 and 2020. Quantitative Information about Level 3 Fair Value Measurements December 31, 2021 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 11 Appraisal of Appraisal 10% 10% Holding period 24 months 24 months Quantitative Information about Level 3 Fair Value Measurements December 31, 2020 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 1 Appraisal of Appraisal 0% - 30% 19% Holding period 23 months 23 months Other real estate owned $ 31 Appraisal of Appraisal 10% 10% December 31, 2021 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 265,969 $ 265,969 $ 265,969 $ — $ — Other securities 17,011 17,011 17,011 — — Loans, held for sale 1,972 2,011 2,011 — — Loans, net of allowance for loan losses 1,971,238 1,945,638 — — 1,945,638 Bank owned life insurance 47,176 47,176 47,176 — — Accrued interest receivable 7,385 7,385 7,385 — — Financial Liabilities: Nonmaturing deposits 2,170,253 2,170,253 2,170,253 — — Time deposits 246,448 247,053 — — 247,053 Long-term FHLB advances 75,000 75,930 — — 75,930 Securities sold under agreement to repurchase 25,495 25,495 25,495 — — Subordinated debentures 102,813 111,118 — — 111,118 Accrued interest payable 315 315 315 — — December 31, 2020 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 139,522 $ 139,522 $ 139,522 $ — $ — Other securities 20,537 20,537 20,537 — — Loans, held for sale 7,001 7,141 7,141 — — Loans, net of allowance for loan losses 2,032,474 2,063,249 — — 2,063,249 Bank owned life insurance 46,976 45,976 45,976 — — Accrued interest receivable 9,421 9,421 9,421 — — Financial Liabilities: Nonmaturing deposits 1,902,560 1,902,560 1,902,560 — — Time deposits 286,838 288,298 — — 288,298 Long-term FHLB advances 125,000 130,942 — — 130,942 Securities sold under agreement to repurchase 28,914 28,914 28,914 — — Subordinated debentures 29,427 31,479 — — 31,479 Accrued interest payable 204 204 204 — — |
Commitments, Contingencies and
Commitments, Contingencies and Off-Balance-Sheet Risk | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Off-Balance-Sheet Risk | NOTE 17 - COMMITMENTS, CONTINGENCIES AND OFF-BALANCE-SHEET RISK Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. The contractual amount of financial instruments with off-balance-sheet risk was as follows at year-end. 2021 2020 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to extend credit: Lines of credit and construction loans $ 33,542 $ 455,777 $ 38,474 $ 427,864 Overdraft protection 7 54,034 6 41,707 Letters of credit 615 731 615 986 $ 34,164 $ 510,542 $ 39,095 $ 470,557 Commitments to make loans are generally made for a period of one year or less. Fixed-rate loan commitments included above had interest rates ranging from 3.25% to 8.00% at December 31, 2021 and 3.50% to 8.00% at December 31, 2020. Maturities extend up to 30 years. Civista is required to maintain certain reserve balances on hand in accordance with the Federal Reserve Board requirements. The average reserve balance maintained in accordance with such requirements was $0 on December 31, 2021 and December 31, 2020, respectively. CBI and Civista are parties to various claims and proceedings arising in the normal course of business. Management, after consultation with legal counsel, believes that the liabilities, if any, arising from such proceedings and claims will not be material to the consolidated balance sheet or results of operations. |
Capital Requirements and Restri
Capital Requirements and Restriction on Retained Earnings | 12 Months Ended |
Dec. 31, 2021 | |
Capital Requirements And Restriction On Retained Earnings [Abstract] | |
Capital Requirements and Restriction on Retained Earnings | NOTE 18 - CAPITAL REQUIREMENTS AND RESTRICTION ON RETAINED EARNINGS CBI and Civista (collectively, the “Companies”) are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory-and possibly additional discretionary-actions by regulators that, if undertaken, could have a direct material effect on the financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Companies must meet specific capital guidelines that involve quantitative measures of the Companies’ assets, liabilities, and certain off-balance-sheet items as calculated under U.S. GAAP, regulatory reporting requirements, and regulatory capital standards. The Companies’ capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulatory capital standards to ensure capital adequacy require the Companies to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital to risk-weighted assets, common equity Tier 1 capital to total risk-weighted assets, and Tier 1 capital to average assets. Management believes, as of December 31, 2021, that the Companies met all capital adequacy requirements to which they were subject. As of December 31, 2021, and 2020, the most recent notification from the Federal Reserve Bank categorized Civista as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Companies must maintain minimum total risk-based capital, Tier 1 risk-based capital, common equity Tier 1 risk-based capital, and Tier 1 leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the institution’s category. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Purposes Amount Ratio Amount Ratio Amount Ratio 2021 Total Risk Based Capital Consolidated $ 394,164 19.2 % $ 164,498 8.0 % n/a n/a Civista 338,383 16.5 164,483 8.0 $ 205,604 10.0 % Tier I Risk Based Capital Consolidated 295,064 14.3 123,373 6.0 n/a n/a Civista 312,671 15.2 123,362 6.0 164,483 8.0 CET1 Risk Based Capital Consolidated 265,637 12.9 92,530 4.5 n/a n/a Civista 312,671 15.2 92,522 4.5 133,642 6.5 Leverage Consolidated 295,064 10.2 115,543 4.0 n/a n/a Civista 312,671 10.8 115,408 4.0 144,260 5.0 2020 Total Risk Based Capital Consolidated $ 307,504 16.0 % $ 153,810 8.0 % n/a n/a Civista 277,429 14.4 153,765 8.0 $ 192,206 10.0 % Tier I Risk Based Capital Consolidated 283,459 14.7 115,358 6.0 n/a n/a Civista 252,304 13.1 115,323 6.0 153,765 8.0 CET1 Risk Based Capital Consolidated 254,032 13.2 86,518 4.5 n/a n/a Civista 241,891 12.6 86,493 4.5 124,934 6.5 Leverage Consolidated 283,459 10.8 105,279 4.0 n/a n/a Civista 252,304 9.6 105,029 4.0 131,286 5.0 CBI’s primary source of funds for paying dividends to its shareholders and for operating expense is the cash accumulated from dividends received from Civista. Payment of dividends by Civista to CBI is subject to restrictions by Civista’s regulatory agencies. These restrictions generally limit dividends to the current and prior two years retained earnings as defined by the regulations. In addition, dividends may not reduce capital levels below minimum regulatory requirements. At December 31, 2021, Civista had $59,772 of net profits available to pay dividends to CBI without requiring regulatory approval. |
Parent Company Only Condensed F
Parent Company Only Condensed Financial Information | 12 Months Ended |
Dec. 31, 2021 | |
Condensed Financial Information Disclosure [Abstract] | |
Parent Company Only Condensed Financial Information | NOTE 19 - PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION Condensed financial information of CBI follows: December 31, Condensed Balance Sheets 2021 2020 Assets: Cash $ 45,800 $ 19,446 Equity securities 1,072 886 Investment in bank subsidiary 408,255 344,948 Investment in nonbank subsidiaries 3,474 16,017 Other assets 2,016 1,575 Total assets $ 460,617 $ 382,872 Liabilities: Deferred income taxes and other liabilities $ 2,592 $ 3,337 Subordinated debentures 102,813 29,427 Total liabilities 105,405 32,764 Shareholders’ Equity: Common stock 277,741 277,039 Accumulated earnings 125,558 93,048 Treasury Stock (56,907 ) (34,598 ) Accumulated other comprehensive income 8,820 14,619 Total shareholders’ equity 355,212 350,108 Total liabilities and shareholders’ equity $ 460,617 $ 382,872 For the years ended December 31, Condensed Statements of Operations 2021 2020 2019 Dividends from bank subsidiaries $ 19,900 $ 15,300 $ 13,300 Dividends from non-bank subsidiaries 1,000 440 — Interest expense (956 ) (945 ) (1,423 ) Pension expense (47 ) (25 ) 176 Other expense, net (1,004 ) (1,241 ) (1,107 ) Income (loss) before equity in undistributed net 18,893 13,529 10,946 Income tax benefit 425 475 494 Equity in undistributed net earnings of subsidiaries 21,228 18,188 22,438 Net income $ 40,546 $ 32,192 $ 33,878 Comprehensive income $ 34,747 $ 39,937 $ 42,204 For the years ended December 31, Condensed Statements of Cash Flows 2021 2020 2019 Operating activities: Net income $ 40,546 $ 32,192 $ 33,878 Adjustment to reconcile net income to net cash Change in other assets and other liabilities 2,495 1,925 4,437 Equity in undistributed net earnings of (21,228 ) (18,188 ) (22,438 ) Net cash from (used for) operating activities 21,813 15,929 15,877 Investing activities: Disposal of minority interest 11,500 — — Disposal of investment in subsidiary — — 41 Acquisition and additional capitalization of (50,000 ) — — Net cash from (used for) investing activities (38,500 ) — 41 Financing activities: Cash paid on fractional shares on preferred stock — — (2 ) Proceeds from subordinated debenture, net of 73,386 — — Purchase of treasury stock (22,309 ) (13,454 ) (3,909 ) Payment to repurchase series B preferred stock — — (402 ) Cash dividends paid (8,036 ) (7,118 ) (7,194 ) Net cash used for financing activities 43,041 (20,572 ) (11,507 ) Net change in cash and cash equivalents 26,354 (4,643 ) 4,411 Cash and cash equivalents at beginning of year 19,446 24,089 19,678 Cash and cash equivalents at end of year $ 45,800 $ 19,446 $ 24,089 |
Preferred Shares
Preferred Shares | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Preferred Shares | NOTE 20 - PREFERRED SHARES On December 19, 2013, the Company completed the sale of 1,000,000 depositary shares, each representing a 1/40th ownership interest in a 6.50% Noncumulative Redeemable Convertible Perpetual Preferred Share, Series B, of the Company, with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). The Company sold the maximum of 1,000,000 depositary shares in the offering, resulting in gross proceeds to the Company of $25,000. Using proceeds from the sale of the depositary shares, the Company redeemed all of its outstanding Series A Preferred Shares for an aggregate purchase price of $22,857, which redemption was completed as of February 15, 2014. All outstanding depositary shares were redeemed or converted into common shares by December 20, 2019. |
Earnings per Common Share
Earnings per Common Share | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | NOTE 21 - EARNINGS PER COMMON SHARE The factors used in the earnings per share computation follow. 2021 2020 2019 Basic Net income $ 40,546 $ 32,192 $ 33,878 Preferred stock dividends — — 647 Less allocation of earnings and dividends to 173 98 87 Net income available to common $ 40,373 $ 32,094 $ 33,144 Weighted average common shares outstanding 15,408,863 16,129,875 15,652,881 Less average participating securities 65,648 49,012 40,013 Weighted average number of shares outstanding 15,343,215 16,080,863 15,612,868 Basic earnings per share $ 2.63 $ 2.00 $ 2.12 Diluted Net income available to common $ 40,373 $ 32,094 $ 33,144 Preferred stock dividends on convertible — — 647 Net income available to common $ 40,373 $ 32,094 $ 33,791 Weighted average common shares outstanding 15,343,215 16,080,863 15,612,868 Add: dilutive effects of convertible preferred — — 1,198,859 Average shares and dilutive potential 15,343,215 16,080,863 16,851,740 Diluted earnings per share $ 2.63 $ 2.00 $ 2.01 The presentation for earnings per common share for prior periods was revised to present under the two-class method. Earnings per common share for prior periods was not impacted. Basic earnings per common share are calculated by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the equity incentive plan, computed using the treasury stock method, and the impact of the Company’s convertible preferred shares using the “if converted” method. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | NOTE 22 - DERIVATIVES To accommodate customer need and to support the Company’s asset/liability positioning, on occasion we enter into interest rate swaps with a customer and a bank counterparty. The interest rate swaps are free-standing derivatives and are recorded at fair value. The Company enters into a floating rate loan and a fixed rate swap with our customer. Simultaneously, the Company enters into an offsetting fixed rate swap with a bank counterparty. In connection with each swap transaction, the Company agrees to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on the same notional amount at a fixed interest rate. At the same time, the Company agrees to pay a bank counterparty the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. These transactions allow the Company’s customer to effectively convert variable rate loans to fixed rate loans. Since the Company acts as an intermediary for its customer, changes in the fair value of the underlying derivative contracts offset each other and do not significantly impact the Company’s results of operations unless a significant difference in credit risk emerges between the counterparties at either end of one of the swap contracts. None of the Company’s derivatives are designated as hedging instruments. The Company presents derivative positions gross on the balance sheet for customers and net for financial institution counterparty positions 2021 2020 Notional Amount Fair Value Notional Amount Fair Value Included in other assets: Interest rate swaps with loan customers in $ 173,490 $ 11,072 $ 244,748 $ 21,700 Total included in other assets $ 11,072 $ 21,700 Included in accrued expenses and other liabilities: Interest rate swaps with loan customers in $ 71,328 $ 1,628 $ — $ — Counterparty positions with financial 71,328 (1,628 ) — — Counterparty positions with financial 173,490 11,072 244,748 21,764 Total included in accrued expenses and $ 11,072 $ 21,764 Gross notional positions with customers $ 244,818 $ 244,748 Gross notional positions with financial $ 244,818 $ 244,748 The effect of swap fair value changes on the Consolidated Statement of Operations for the years ended December 31, 2021, 2020 and 2019 are as follows: Derivatives Not Designated Location of Gain or (Loss) Recognized in Amount of Gain or (Loss) as Hedging Instruments Income on Derivative 2021 2020 2019 Interest rate swaps related to Other income $ 64 $ (64) $ — Total $ 64 $ (64) $ — The Company monitors and controls all derivative products with a comprehensive Board of Director approved commercial loan swap policy. All hedge transactions must be approved in advance by the Lenders Loan Committee or the Directors Loan Committee of the Board of Directors. The Company classifies changes in the fair value of derivatives with “Other” in the Consolidated Statements of Operation. Any fees paid to enter the swap contract at inception are recognized in earnings when received. Such fees amounted to $207 and $1,459 during the years ended December 31, 2021 and 2020, respectively. At December 31, 2021, the Company had cash and securities at fair value pledged for collateral on its interest rate swaps with third party financial institutions of $10,780 and $509, respectively. At December 31, 2020, the Company had cash and securities at fair value pledged for collateral on its interest rate swaps with third party financial institutions of $11,300 and $11,705, respectively. |
Qualified Affordable Housing Pr
Qualified Affordable Housing Project Investments | 12 Months Ended |
Dec. 31, 2021 | |
Federal Home Loan Banks [Abstract] | |
Qualified Affordable Housing Project Investments | NOTE 23 – QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS The Company invests in qualified affordable housing projects. At December 31, 2021 and 2020, the balance of the Company’s investments in qualified affordable housing projects was $13,093 and $11,911, respectively. These balances are reflected in the other assets line on the Consolidated Balance Sheet. The unfunded commitments related to the investments in qualified affordable housing projects totaled $5,706 and $5,944 at December 31, 2021 and 2020, respectively. These balances are reflected in the Accrued expenses and other liabilities line on the Consolidated Balance Sheet. Other assets and Accrued expenses and other liabilities were revised at December 31, 2020 to reflect the unfunded commitment of $5,944. During the years ended December 31, 2021, 2020 and 2019, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $818, $661 and $570, respectively, which was included within pre-tax income on the Consolidated Statements of Operations. Additionally, during the years ended December 31, 2021, 2020 and 2019, the Company recognized tax credits and other benefits from its investments in affordable housing tax credits of $1,402, $1,186 and $995, respectively. During the years ended December 31, 2021, 2020 and 2019, the Company did not incur impairment losses related to its investment in qualified affordable housing projects. |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | NOTE 24 – REVENUE RECOGNITION The Company accounts for revenues from contracts with customers under ASC 606, Revenue from Contracts with Customers. Revenue associated with financial instruments, including revenue from loans and securities are outside the scope of the new standard and accounted for under existing GAAP. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives and certain credit card fees are also not in scope of the new guidance. Noninterest revenue streams in-scope of ASC 606 are discussed below. Service Charges Service charges consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. ATM/Interchange Fees Fees, exchange, and other service charges are primarily comprised of debit and credit card income, ATM fees and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Mastercard. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Wealth Management Fees Wealth management fees are primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received in the following month through a direct charge to customers’ accounts. The Company does not earn performance-based incentives. The Company’s performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered. Tax Refund Processing Fees The Company facilitates the payment of federal and state income tax refunds in partnership with a third-party vendor. Refund Transfers (“RTs”) are fee-based products whereby a tax refund is issued to the taxpayer after the Company has received the refund from the federal or state government. As part of this agreement the Company earns fee income, the majority of which is received in the first quarter of the year. The Company’s fee income revenue is recognized based on the estimated percent of business completed by each date. Other Other noninterest income consists of other recurring revenue streams such as check order fees, wire transfer fees, safety deposit box rental fees, item processing fees and other miscellaneous revenue streams. Check order income mainly represents fees charged to customers for checks. Wire transfer fees represent revenue from processing wire transfers. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. Item processing fee income represents fees charged to other financial institutions for processing their transactions. Payment is typically received in the following month. The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2021, 2020 and 2019. For the years ended 2021 2020 2019 Noninterest Income In-scope of Topic 606: Service charges $ 5,905 $ 5,288 $ 6,395 ATM/Interchange fees 5,443 4,472 4,056 Wealth management fees 4,857 3,981 3,670 Tax refund processing fees 2,375 2,375 2,750 Other 1,055 831 911 Noninterest Income (in-scope of Topic 606) 19,635 16,947 17,782 Noninterest Income (out-of-scope of Topic 606) 11,817 11,235 4,661 Total Noninterest Income $ 31,452 $ 28,182 $ 22,443 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases | NOTE 2 5 We have operating leases for several branch locations and office space. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. We also lease certain office equipment under operating leases. Many of our leases include both lease (e.g., minimum rent payments) and non-lease (e.g., common-area or other maintenance costs) components. The Company accounts for each component separately based on the standalone price of each component. In addition, we have several operating leases with lease terms of less than one year and therefore, we have elected the practical expedient to exclude these short-term leases from our right-of-use (ROU) assets and lease liabilities. Most leases include one or more options to renew. The exercise of lease renewal options is typically at our sole discretion. The majority of renewals to extend the lease terms are included in our ROU assets and lease liabilities as they are reasonably certain of exercise. As most of our leases do not provide an implicit rate, we use the fully collateralized FHLB borrowing rate, commensurate with the lease terms based on the information available at the lease commencement date in determining the present value of the lease payments. The balance sheet information related to our operating leases were as follows as of December 31, 2021 and 2020: Classification on the December 31, 2021 December 31, 2020 Assets: Operating lease Other assets $ 2,314 $ 2,678 Liabilities: Operating lease Accrued liabilities $ 2,314 $ 2,678 The cost components of our operating leases were as follows for the periods ended December 31, 2021 and 2020: December 31, December 31, Lease cost Operating lease cost $ 427 $ 499 Short-term lease cost 161 304 Sublease income (29 ) (26 ) Total lease cost $ 559 $ 777 Maturities of our lease liabilities for all operating leases for each of the next five years and thereafter is as follows: 2022 $ 420 2023 414 2024 406 2025 308 2026 258 Thereafter 728 Total lease payments $ 2,534 Less: Imputed Interest 220 Present value of lease liabilities $ 2,314 The weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of December 31, 2021: Weighted-average remaining lease term - operating leases (years) 5.60 Weighted-average discount rate - operating leases 2.82 % |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 26 - SUBSEQUENT EVENTS On January 10, 2022, CBI and Comunibanc Corp. (“Comunibanc”), the parent company of The Henry County Bank entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which CBI will acquire Comunibanc and its wholly-owned subsidiary, The Henry County Bank. It is anticipated that The Henry County Bank will be merged with and into Civista, upon completion of the transaction. At that time, The Henry County Bank’s seven banking offices located in Northwestern Ohio, will become offices of Civista. As of September 30, 2021, Comunibanc and The Henry County Bank had total consolidated assets of $329 million, total loans of $165 million and total deposits of $276 million. Under the terms of the Merger Agreement, for each share of Comunibanc common stock issued and outstanding, Comunibanc shareholders have the right to receive 1.1888 CBI common shares and $30.13 in cash. This implies a deal value of approximately $50.2 million in the aggregate or $60.59 per Comunibanc share based on the closing price of Civista’s common stock on January 7, 2022 of $25.62. The merger is anticipated to be completed during the second quarter of 2022, and is subject to the satisfaction of the closing conditions in the Merger Agreement and the approval of the appropriate regulatory authorities and of the shareholders of Comunibanc. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Nature of Operations and Principles of Consolidation | Nature of Operations and Principles of Consolidation Civista provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Summit, Huron, Ottawa, Madison, Montgomery and Richland, in the Indiana counties of Dearborn and Ripley and in the Kentucky county of Kenton. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, our customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions. FCIA was formed to allow the Company to participate in commission revenue generated through its third party insurance agreement. Insurance commission revenue was less than 1.0% of total revenue for each of the years ended December 31, 2021, 2020 and 2019. WSP was formed to hold repossessed assets of CBI’s subsidiaries. WSP revenue was less than 1% of total revenue for each of the years ended December 31, 2021, 2020 and 2019. FCRS was formed in 2012 to facilitate payment of individual state and federal tax refunds. The operations of FCRS were discontinued June 30, 2019. CRMI was formed in 2017 to provide property and casualty insurance coverage to CBI and its subsidiaries for which insurance may not be currently available or economically feasible in the insurance marketplace. CRMI revenue was less than 1% of total revenue for each of the years ended December 31, 2021, 2020 and 2019. FCC was formed as a wholly-owned subsidiary of Civista in Wilmington, Delaware to hold inter-company debt. The operations of FCC were discontinued December 31, 2021. FCI is wholly-owned by Civista and holds and manages its securities portfolio. The operations of FCI are located in Wilmington, Delaware. |
Use of Estimates | Use of Estimates |
Cash Flows | Cash Flows transactions, interest bearing deposits in other financial institutions, federal funds purchased, short-term borrowings and repurchase agreements. The Company routinely maintains balances that exceed FDIC insured limits and the risk of loss is very low with respect to such deposits. |
Securities | Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold using the specific identification method. Securities are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value is other than temporary. For debt securities, management considers whether the present value of cash flows expected to be collected are less than the security’s amortized cost basis, the magnitude and duration of the decline, the reasons underlying the decline and the Company’s intent to sell the security or whether it is more likely than not that the Company would be required to sell the security before its anticipated recovery in market value, to determine whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, if the Company does not intend to sell the security, and it is more likely than not that it will not be required to sell the security, before recovery of the security’s amortized cost basis, the charge to earnings is limited to the amount of credit loss. Any remaining difference between fair value and amortized cost is recognized in other comprehensive income, net of applicable taxes. Otherwise, the entire difference between fair value and amortized cost is charged to earnings. Other securities which include FHLB stock, Federal Reserve Bank (“FRB”) stock, Federal Agricultural Mortgage Corporation stock, Bankers’ Bancshares Inc. (“BB”) stock, and Norwalk Community Development Corp (“NCDC”) stock are carried at cost. |
Equity Securities | Equity securities |
Loans Held for Sale | Loans Held for Sale: |
Loans | Loans: Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the credit is well-secured and in process of collection. Interest income on consumer loans is discontinued when management determines future collection is unlikely. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued, but not received, for loans placed on nonaccrual, is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Purchased Loans | Purchased Loans: Purchased loans are accounted for individually or aggregated into pools of loans based on common risk characteristics (e.g., credit score, loan type, and date of origination). The Company estimates the amount and timing of expected cash flows for each purchased loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan’s, or pool’s, contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Over the life of the loan or pool, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected future cash flows is greater than the carrying amount, the excess is recognized as part of future interest income. |
Allowance for Loan Losses | Allowance for Loan Losses: All Commercial, Commercial Real Estate and Farm Real Estate loans are monitored on a regular basis with a detailed loan review completed for all loan relationships greater than $1,500. All Commercial, Commercial Real Estate and Farm Real Estate loans that are 90 days past due or in nonaccrual status, are analyzed to determine if they are “impaired”, which means that it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. All loans that are delinquent 90 days are classified as substandard and placed on nonaccrual status unless they are well-secured and in the process of collection. The remaining loans are evaluated and segmented with loans with similar risk characteristics. The Company allocates reserves based on risk categories and portfolio segments described below, which conform to the Company’s asset classification policy. In reviewing risk within Civista’s loan portfolio, management has identified specific segments to categorize loan portfolio risk: (i) Commercial & Agriculture loans; (ii) Commercial Real Estate – Owner Occupied loans; (iii) Commercial Real Estate – Non-Owner Occupied loans; (iv) Residential Real Estate loans; (v) Real Estate Construction loans; (vi) Farm Real Estate loans; and (vii) Consumer and Other loans. Additional information related to economic factors can be found in Note 4 |
Loan Charge-off Policies | Loan Charge-off Policies: |
Troubled Debt Restructurings | Troubled Debt Restructurings: |
Other Real Estate | Other Real Estate: |
Premises and Equipment | Premises and Equipment: three seven |
Federal Home Loan Bank (FHLB) Stock | Federal Home Loan Bank (FHLB) Stock rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as the following: ( a b c d |
Federal Reserve Bank (FRB) Stock | Federal Reserve Bank (FRB) Stock |
Bank Owned Life Insurance (BOLI) | Bank Owned Life Insurance (BOLI) |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets: Other intangible assets consist of core deposit intangibles arising from whole bank and branch acquisitions. These intangible assets are measured at fair value and then amortized on an accelerated method over their estimated useful lives, which range from five |
Mortgage Servicing Rights | Mortgage Servicing Rights |
Long-lived Assets | Long-lived Assets: |
Repurchase Agreements | Repurchase Agreements |
Loan Commitments and Related Financial Instruments | Loan Commitments and Related Financial Instruments: |
Income Taxes | Income Taxes The Company prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. |
Stock-Based Compensation | Stock-Based Compensation Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. |
Retirement Plans | Retirement Plans |
Earnings per Common Share | Earnings per Common Share |
Comprehensive Income | Comprehensive Income |
Loss Contingencies | Loss Contingencies |
Restrictions on Cash | Restrictions on Cash |
Dividend Restriction | Dividend Restriction |
Fair Value of Financial Instruments | Fair Value of Financial Instruments |
Operating Segments | Operating Segments |
Treasury Stock | Treasury Stock |
Business Combinations | Business Combinations: |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities Derivatives and Hedging |
Reclassifications | Reclassifications: |
Adoption of New Accounting Standards | Adoption of New Accounting Standards: In October 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-08, Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs, |
Effect of Newly Issued but Not Yet Effective Accounting Standards | Effect of Newly Issued but Not Yet Effective Accounting Standards: In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. A public business entity that is an SEC filer, such as the Company, should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. On October 16, 2019, the FASB voted to defer the effective date for ASC 350, Intangibles – Goodwill and Other In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, and Topic 825, Financial Instruments, Topic 326, Financial Instruments – Credit Losses Financial Instruments – Credit Losses In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses, Topic 326 ASU 2016-13, ASU 2019-05 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted once ASU 2016-13 has been . On October 16, 2019, the FASB voted to defer the effective date for ASC 326, Financial Instruments – Credit Losses In November 2019, the FASB issued ASU 2019-10, Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (Goodwill) In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses In March 2020, the FASB issued ASU 2020-03 , Codification Improvements to Financial Instruments. Financial Instruments In January 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020 reference rates, such as the Secured Overnight Financing Rate (SOFR). Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls “reference rate reform” if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Also, entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met, and can make a one-time election to sell and/or reclassify held-to-maturity debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. The Company is working through this transition via a multi-disciplinary project team. We are still evaluating the impact the change to a benchmark like SOFR or Prime Rate will have on our financial condition, results of operations or cash flows. |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Available for Sale Securities | The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2021 U.S. Treasury securities and obligations of U.S. government agencies $ 48,390 $ 30 $ (530 ) $ 47,890 Obligations of states and political subdivisions 281,247 17,696 (107 ) 298,836 Mortgage-back securities in government sponsored entities 211,660 2,938 (1,450 ) 213,148 Total debt securities $ 541,297 $ 20,664 $ (2,087 ) $ 559,874 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2020 U.S. Treasury securities and obligations of U.S. government agencies $ 21,479 $ 220 $ (6 ) $ 21,693 Obligations of states and political subdivisions 208,013 21,000 (1 ) 229,012 Mortgage-back securities in government sponsored entities 106,824 5,963 (28 ) 112,759 Total debt securities $ 336,316 $ 27,183 $ (35 ) $ 363,464 |
Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities at year end 2021 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available for sale Amortized Fair Value Due in one year or less $ 3,786 $ 3,789 Due from one to five years 32,034 32,121 Due from five to ten years 61,675 63,083 Due after ten years 232,142 247,733 Mortgage-backed securities in government sponsored entities 211,660 213,148 Total securities available for sale $ 541,297 $ 559,874 |
Proceeds from Sales of Securities, Gross Realized Gains and Losses | Proceeds from sales of securities, gross realized gains and gross realized losses were as follows: 2021 2020 2019 Sale proceeds $ 1,810 $ 1,455 $ 17,570 Gross realized gains 1,785 94 47 Gross realized losses — — 43 Gains from securities called or settled by the issuer 1 — 28 |
Securities with Unrealized Losses Not Recognized in Income | Debt securities with unrealized losses at year end 2021 and 2020 not recognized in income were as follows: 2021 12 Months or less More than 12 months Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury securities and obligations of U.S. government agencies $ 41,432 $ (473 ) $ 2,014 $ (57 ) $ 43,446 $ (530 ) Obligations of states and political subdivisions 25,797 (107 ) — — 25,797 (107 ) Mortgage-backed securities in gov’t sponsored entities 141,327 (1,343 ) 3,123 (107 ) 144,450 (1,450 ) Total temporarily impaired $ 208,556 $ (1,923 ) $ 5,137 $ (164 ) $ 213,693 $ (2,087 ) 2020 12 Months or less More than 12 months Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury securities and obligations of U.S. government agencies $ 6,501 $ (5 ) $ 126 $ (1 ) $ 6,627 $ (6 ) Obligations of states and political subdivisions 1,874 (1 ) — — 1,874 (1 ) Mortgage-backed securities in gov’t sponsored entities 5,755 (28 ) — — 5,755 (28 ) Total temporarily impaired $ 14,130 $ (34 ) $ 126 $ (1 ) $ 14,256 $ (35 ) |
Schedule of Net Gains and Losses on Equity Investments Recognized in Earnings and Portion of Unrealized Gains and Losses for Period that Relates to Equity Investments | The following table presents the net gains and losses on equity investments recognized in earnings at year-end 2021 and 2020, and the portion of unrealized gains and losses for the period that relates to equity investments held at year-end 2021 and 2020: 2021 2020 Net gains (losses) recognized on equity securities during the year $ 186 $ (57 ) Less: Net gains realized on the sale of equity securities during the period — 6 Unrealized gains (losses) recognized in equity securities held at December 31 $ 186 $ (51 ) |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Loan Balances | Loans at year-end were as follows: 2021 2020 Commercial & Agriculture $ 246,502 $ 409,876 Commercial Real Estate - owner occupied 295,452 278,413 Commercial Real Estate - non-owner occupied 829,310 705,072 Residential Real Estate 430,060 442,588 Real Estate Construction 157,127 175,609 Farm Real Estate 28,419 33,102 Consumer and Other 11,009 12,842 Total Loans 1,997,879 2,057,502 Allowance for loan losses (26,641 ) (25,028 ) Net loans $ 1,971,238 $ 2,032,474 |
Loans to Directors and Executive Officers Including Immediate Families | Loans to principal officers, directors, and their affiliates at year-end 2021 and 2020 were as follows: 2021 2020 Balance - Beginning of year $ 8,475 $ 9,909 New loans and advances 15,522 1,153 Repayments (6,693 ) (3,004 ) Effect of changes to related parties 143 417 Balance - End of year $ 17,447 $ 8,475 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Changes in the Allowance for Loan Losses and Loan Balances Outstanding | The following tables present, by portfolio segment, the changes in the allowance for loan losses, the ending allocation of the allowance for loan losses and the loan balances outstanding for the years ended December 31, 2021, 2020 and 2019. The changes can be impacted by overall loan volume, adversely graded loans, historical charge-offs and economic factors. Allowance for loan losses: December 31, 2021 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 2,810 $ (15 ) $ 165 $ (360 ) $ 2,600 Commercial Real Estate: Owner Occupied 4,057 — 7 400 4,464 Non-Owner Occupied 12,451 — 395 1,014 13,860 Residential Real Estate 2,484 (120 ) 302 (69 ) 2,597 Real Estate Construction 2,439 — 1 (630 ) 1,810 Farm Real Estate 338 — 12 (63 ) 287 Consumer and Other 209 (24 ) 60 (69 ) 176 Unallocated 240 — — 607 847 Total $ 25,028 $ (159 ) $ 942 $ 830 $ 26,641 Allowance for loan losses: December 31, 2020 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 2,219 $ (20 ) $ 7 $ 604 $ 2,810 Commercial Real Estate: Owner Occupied 2,541 (148 ) 259 1,405 4,057 Non-Owner Occupied 6,584 — 48 5,819 12,451 Residential Real Estate 1,582 (236 ) 218 920 2,484 Real Estate Construction 1,250 — 4 1,185 2,439 Farm Real Estate 344 — 13 (19) 338 Consumer and Other 247 (61 ) 65 (42) 209 Unallocated — — — 240 240 Total $ 14,767 $ (465 ) $ 614 $ 10,112 $ 25,028 Allowance for loan losses: December 31, 2019 Beginning balance Charge-offs Recoveries Provision (Credit) Ending Balance Commercial & Agriculture $ 1,747 $ (114 ) $ 86 $ 500 $ 2,219 Commercial Real Estate: Owner Occupied 1,962 (161 ) 289 451 2,541 Non-Owner Occupied 5,803 — 102 679 6,584 Residential Real Estate 1,531 (294 ) 259 86 1,582 Real Estate Construction 1,046 (24 ) 3 225 1,250 Farm Real Estate 397 — 5 (58 ) 344 Consumer and Other 284 (183 ) 85 61 247 Unallocated 909 — — (909 ) — Total $ 13,679 $ (776 ) $ 829 $ 1,035 $ 14,767 The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of December 31, 2021 and December 31, 2020. December 31, 2021 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 2,600 $ 2,600 Commercial Real Estate: Owner Occupied — 7 4,457 4,464 Non-Owner Occupied — — 13,860 13,860 Residential Real Estate — 11 2,586 2,597 Real Estate Construction — — 1,810 1,810 Farm Real Estate — — 287 287 Consumer and Other — — 176 176 Unallocated — — 847 847 Total $ — $ 18 $ 26,623 $ 26,641 Outstanding loan balances: Commercial & Agriculture $ — $ — $ 246,502 $ 246,502 Commercial Real Estate: Owner Occupied — 187 295,265 295,452 Non-Owner Occupied — — 829,310 829,310 Residential Real Estate 290 526 429,244 430,060 Real Estate Construction — — 157,127 157,127 Farm Real Estate — 509 27,910 28,419 Consumer and Other — — 11,009 11,009 Total $ 290 $ 1,222 $ 1,996,367 $ 1,997,879 December 31, 2020 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ 73 $ 2,737 $ 2,810 Commercial Real Estate: Owner Occupied — 5 4,052 4,057 Non-Owner Occupied — — 12,451 12,451 Residential Real Estate — 29 2,455 2,484 Real Estate Construction — — 2,439 2,439 Farm Real Estate — — 338 338 Consumer and Other — — 209 209 Unallocated — — 240 240 Total $ — $ 107 $ 24,921 $ 25,028 Outstanding loan balances: Commercial & Agriculture $ — $ 74 $ 409,802 $ 409,876 Commercial Real Estate: Owner Occupied — 980 277,433 278,413 Non-Owner Occupied — 48 705,024 705,072 Residential Real Estate 388 946 441,254 442,588 Real Estate Construction — — 175,609 175,609 Farm Real Estate — 618 32,484 33,102 Consumer and Other — — 12,842 12,842 Total $ 388 $ 2,666 $ 2,054,448 $ 2,057,502 |
Credit Exposures by Internally Assigned Grades | December 31, 2021 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 244,787 $ 526 $ 1,189 $ — $ 246,502 Commercial Real Estate: Owner Occupied 290,617 3,119 1,716 — 295,452 Non-Owner Occupied 764,181 28,042 37,087 — 829,310 Residential Real Estate 77,594 164 4,455 — 82,213 Real Estate Construction 136,149 260 5 — 136,414 Farm Real Estate 27,023 205 1,191 — 28,419 Consumer and Other 764 — 20 — 784 Total $ 1,541,115 $ 32,316 $ 45,663 $ — $ 1,619,094 December 31, 2020 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 401,636 $ 4,472 $ 3,768 $ — $ 409,876 Commercial Real Estate: Owner Occupied 248,316 19,429 10,668 — 278,413 Non-Owner Occupied 604,909 58,270 41,893 — 705,072 Residential Real Estate 81,409 668 5,524 — 87,601 Real Estate Construction 158,207 962 492 — 159,661 Farm Real Estate 30,486 216 2,400 — 33,102 Consumer and Other 833 — 33 — 866 Total $ 1,525,796 $ 84,017 $ 64,778 $ — $ 1,674,591 |
Performing and Nonperforming Loans | December 31, 2021 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 347,847 $ 20,713 $ 10,225 $ 378,785 Nonperforming — — — — Total $ 347,847 $ 20,713 $ 10,225 $ 378,785 December 31, 2020 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 354,987 $ 15,948 $ 11,976 $ 382,911 Nonperforming — — — — Total $ 354,987 $ 15,948 $ 11,976 $ 382,911 |
Aging Analysis of Past Due Loans | December 31, 2021 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Total Past Due Current Purchased Credit- Impaired Loans Total Loans Past Due 90 Days and Accruing Commercial & Agriculture $ 249 $ 13 $ 78 $ 340 $ 246,162 $ — $ 246,502 $ — Commercial Real Estate: Owner Occupied — — 106 106 295,346 — 295,452 — Non-Owner Occupied — — 4 4 829,306 — 829,310 — Residential Real Estate 1,848 879 842 3,569 426,201 290 430,060 — Real Estate Construction — — — — 157,127 — 157,127 — Farm Real Estate — — — — 28,419 — 28,419 — Consumer and Other 42 — 9 51 10,958 — 11,009 — Total $ 2,139 $ 892 $ 1,039 $ 4,070 $ 1,993,519 $ 290 $ 1,997,879 $ — December 31, 2020 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Total Past Due Current Purchased Credit- Impaired Loans Total Loans Past Due 90 Days and Accruing Commercial & Agriculture $ 117 $ 25 $ 50 $ 192 $ 409,684 $ — $ 409,876 $ — Commercial Real Estate: Owner Occupied — 4 102 106 278,307 — 278,413 — Non-Owner Occupied — — 6 6 705,066 — 705,072 — Residential Real Estate 1,059 867 1,314 3,240 438,960 388 442,588 — Real Estate Construction — — — — 175,609 — 175,609 — Farm Real Estate — — 4 4 33,098 — 33,102 — Consumer and Other 59 1 16 76 12,766 — 12,842 — Total $ 1,235 $ 897 $ 1,492 $ 3,624 $ 2,053,490 $ 388 $ 2,057,502 $ — |
Summary of Nonaccrual Loans Excluding Purchased Credit-Impaired (PCI) Loans | The following table presents loans on nonaccrual status, excluding purchased credit-impaired (PCI) loans, as of December 31, 2021 and 2020. 2021 2020 Commercial & Agriculture $ 78 $ 139 Commercial Real Estate: Owner Occupied 334 964 Non-Owner Occupied 4 6 Residential Real Estate 3,232 3,893 Real Estate Construction 5 7 Farm Real Estate — 85 Consumer and Other 20 31 Total $ 3,673 $ 5,125 |
Schedule of Loan Modifications | There were no loans modified during the twelve month period ended December 31, 2021 and 2020. Loan modifications that are considered TDRs completed during the twelve month periods ended December 31, 2019 were as follows: For the Twelve Month Period Ended December 31, 2019 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied 1 382 382 Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 382 $ 382 |
Impaired Financing Receivables Excluding PCI Loans | The following table includes the recorded investment and unpaid principal balances for impaired financing receivables, excluding PCI loans, with the associated allowance amount, if applicable, as of December 31, 2021 and 2020. December 31, 2021 December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial Real Estate: Owner Occupied $ — $ — $ 757 $ 757 Non-Owner Occupied — — 48 48 Residential Real Estate 503 528 915 940 Farm Real Estate 509 509 618 618 Total 1,012 1,037 2,338 2,363 With an allowance recorded: Commercial & Agriculture — — $ — 74 74 $ 73 Commercial Real Estate: Owner Occupied 187 187 7 223 223 5 Residential Real Estate 23 27 11 31 35 29 Total 210 214 18 328 332 107 Total: Commercial & Agriculture — — — 74 74 73 Commercial Real Estate: Owner Occupied 187 187 7 980 980 5 Non-Owner Occupied — — — 48 48 — Residential Real Estate 526 555 11 946 975 29 Farm Real Estate 509 509 — 618 618 — Total $ 1,222 $ 1,251 $ 18 $ 2,666 $ 2,695 $ 107 The following tables include the average recorded investment and interest income recognized for impaired financing receivables as of, and for the years ended, December 31, 2021, 2020 and 2019. For the year ended: December 31, 2021 December 31, 2020 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 15 $ — $ 88 $ 4 Commercial Real Estate: Owner Occupied 396 18 520 27 Non-Owner Occupied 23 1 243 16 Residential Real Estate 629 31 1,361 43 Farm Real Estate 569 24 647 26 Total $ 1,632 $ 74 $ 2,859 $ 116 For the year ended: December 31, 2019 Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 367 $ 33 Commercial Real Estate: Owner Occupied 456 32 Non-Owner Occupied 308 20 Residential Real Estate 1,271 58 Farm Real Estate 683 29 Total $ 3,085 $ 172 |
Schedule of Changes in Amortized Yield for PCI Loans | Changes in the amortizable yield for PCI loans were as follows, since acquisition: At December 31, 2021 At December 31, 2020 (In Thousands) (In Thousands) Balance at beginning of period $ 225 $ 255 Acquisition of PCI loans — — Accretion (77 ) (336 ) Transfers from non-accretable to accretable 69 306 Balance at end of period $ 217 $ 225 |
Schedule of Loans Acquired and Accounted | The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30: At December 31, 2021 At December 31, 2020 Acquired Loans with Specific Evidence of Deterioration of Credit Quality (ASC 310-30) Acquired Loans with Specific Evidence of Deterioration of Credit Quality (ASC 310-30) (In Thousands) Outstanding balance $ 512 $ 687 Carrying amount 290 388 |
CARES Act [Member] | |
Schedule of Loan Modifications | Details with respect to loan modifications that remain on deferred status are as follows: Type of Loan Number of Balance Percent of 1 (In thousands) Commercial & Agriculture 2 $ 498 0.03 % Commercial Real Estate: Non-Owner Occupied 5 4,644 0.24 % Total 7 $ 5,142 0.26 % 1 |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Components of Other Comprehensive Income (Loss) | The following table presents the components of other comprehensive income (loss), net of tax, as of December 31, 2021, 2020 and 2019: Before Tax Tax Effect Net of Tax Year Ended December 31, 2021 Net unrealized Gains (Losses) on Investment Securities: Other comprehensive income (loss) before reclassifications $ (8,570 ) $ (1,799 ) $ (6,771 ) Amounts reclassified from accumulated other comprehensive income (loss) (1 ) — (1 ) Net Unrealized Gains (Losses) on Investment Securities (8,571 ) (1,799 ) (6,772 ) Defined Benefit Plans: Other comprehensive income (loss) before reclassifications 992 209 783 Amounts reclassified from accumulated other comprehensive income (loss) 240 50 190 Defined Benefit Plans, Net 1,232 259 973 Other Comprehensive Income $ (7,339 ) $ (1,540 ) $ (5,799 ) Year Ended December 31, 2020 Net unrealized Gains (Losses) on Investment Securities: Other comprehensive income (loss) before reclassifications $ 10,935 $ 2,297 $ 8,638 Amounts reclassified from accumulated other comprehensive income (loss) (94 ) (20 ) (74 ) Net Unrealized Gains on Investment Securities 10,841 2,277 8,564 Defined Benefit Plans: Other comprehensive income (loss) before reclassifications (1,326 ) (279 ) (1,047 ) Amounts reclassified from accumulated other comprehensive income (loss) 289 61 228 Defined Benefit Plans, Net (1,037 ) (218 ) (819 ) Other Comprehensive Income $ 9,804 $ 2,059 $ 7,745 Year Ended December 31, 2019 Net unrealized Gains (Losses) on Investment Securities: Other comprehensive income (loss) before reclassifications $ 13,368 $ 2,807 $ 10,561 Amounts reclassified from accumulated other comprehensive income (loss) (32 ) (7 ) (25 ) Net Unrealized Losses on Investment Securities 13,336 2,800 10,536 Defined Benefit Plans: Other comprehensive income (loss) before reclassifications (2,953 ) (620 ) (2,333 ) Amounts reclassified from accumulated other comprehensive income (loss) 156 33 123 Defined Benefit Plans, Net (2,797 ) (587 ) (2,210 ) Other Comprehensive Loss $ 10,539 $ 2,213 $ 8,326 The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, as of December 31, 2021, 2020 and 2019. For the Year Ended December 31, 2021 For the Year Ended December 31, 2020 For the Year Ended December 31, 2019 Unrealized Gains and Losses on Available for Sale Securities Defined Benefit Pension Items Total Unrealized Gains and Losses on Available for Sale Securities Defined Benefit Pension Items Total Unrealized Gains and Losses on Available for Sale Securities Defined Benefit Pension Items Total Beginning balance $ 21,447 $ (6,828 ) $ 14,619 $ 12,883 $ (6,009 ) $ 6,874 $ 2,347 $ (3,799 ) $ (1,452 ) Other comprehensive income (loss) before reclassifications (6,771 ) 783 (5,988 ) 8,638 (1,047 ) 7,591 10,561 (2,333 ) 8,228 Amounts reclassified from accumulated other comprehensive income (loss) (1 ) 190 189 (74 ) 228 154 (25 ) 123 98 Net current-period other comprehensive income (loss) (6,772 ) 973 (5,799 ) 8,564 (819 ) 7,745 10,536 (2,210 ) 8,326 Ending balance $ 14,675 $ (5,855 ) $ 8,820 $ 21,447 $ (6,828 ) $ 14,619 $ 12,883 $ (6,009 ) $ 6,874 |
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss | The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss as of December 31, 2021, 2020 and 2019. Amount Reclassified from Accumulated Other Comprehensive Loss (a) For the year ended December 31, Details about Accumulated Other Comprehensive Income (Loss) Components 2021 2020 2019 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains (losses) on available $ 1 $ 94 $ 32 Net gain on sale of securities Tax effect — (20 ) (7 ) Income taxes 1 74 25 Amortization of defined benefit pension items Actuarial losses (240 )(b) (289 )(b) (156 )(b) Other operating expenses Tax effect 50 61 33 Income taxes (190 ) (228 ) (123 ) Total reclassifications for the period $ (189 ) $ (154 ) $ (98 ) (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Year-End Premises and Equipment | Year-end premises and equipment were as follows: At December 31, 2021 2020 Land and improvements $ 6,970 $ 6,879 Buildings and improvements 29,305 28,835 Furniture and equipment 23,786 22,849 Total 60,061 58,563 Accumulated depreciation (37,616 ) (35,983 ) Premises and equipment, net $ 22,445 $ 22,580 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Acquired Intangible Assets | Acquired intangible assets were as follows as of year-end. 2021 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Core deposit intangible assets(1): Core deposit intangibles 8,527 3,588 4,939 14,792 8,963 5,829 Total core deposit intangible assets $ 8,527 $ 3,588 $ 4,939 $ 14,792 $ 8,963 $ 5,829 |
Schedule of Mortgage Servicing Rights (MSRs) and Related Valuation Allowance | Activity for mortgage servicing rights (MSRs) and the related valuation allowance follows: 2021 2020 Mortgage Servicing Rights: Beginning of year $ 2,246 $ 1,562 Additions 764 1,310 Disposals — — Amortized to expense 572 524 Other Charges — — Change in valuation allowance (204 ) 102 End of year $ 2,642 $ 2,246 Valuation allowance: Beginning of year $ 204 $ 102 Additions expensed 261 162 Reductions credited to operations (465 ) (60 ) Direct write-offs — — End of year $ — $ 204 |
Schedule of Estimated Amortization Expense | Estimated amortization expense for each of the next five years and thereafter is as follows: MSRs Core deposit intangibles Total 2022 $ 137 $ 868 $ 1,005 2023 137 841 978 2024 137 804 941 2025 137 708 845 2026 135 670 805 Thereafter 1,959 1,048 3,007 $ 2,642 $ 4,939 $ 7,581 |
Interest-Bearing Deposits (Tabl
Interest-Bearing Deposits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Deposits [Abstract] | |
Summary of Interest-Bearing Deposits | Interest-bearing deposits as of December 31, 2021 and 2020 were as follows: 2021 2020 Demand $ 537,510 $ 410,139 Savings and Money markets 843,837 771,612 Certificates of Deposit: $250 and over 55,011 70,989 Other 149,521 169,453 Individual Retirement Accounts 41,916 46,396 Total $ 1,627,795 $ 1,468,589 |
Scheduled Maturities of Certificates of Deposit | Scheduled maturities of certificates of deposit, including IRAs at December 31, 2021 were as follows: 2022 $ 173,834 2023 45,195 2024 18,810 2025 3,829 2026 3,596 Thereafter 1,184 Total $ 246,448 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Summary of Federal Funds Purchased and Other Short-term Borrowings | Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows: At December 31, 2021 At December 31, 2020 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Outstanding balance at year end $ — $ — $ — $ — Maximum indebtedness during the year 50,000 — 50,000 102,700 Average balance during the year 137 — 228 8,151 Average rate paid during the year 0.73 % — 0.35 % 1.64 % Interest rate on year end balance — — — — At December 31, 2019 Federal Funds Purchased Short-term Borrowings Outstanding balance at year end $ — $ 101,500 Maximum indebtedness during the year 20,000 192,700 Average balance during the year 137 112,088 Average rate paid during the year 2.19 % 2.32 % Interest rate on year end balance — 1.63 % |
Federal Home Loan Bank Advanc_2
Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Advances from Federal Home Loan Banks [Abstract] | |
Scheduled Principal Reductions of Federal Home Loan Bank Advances Outstanding | Scheduled principal reductions of FHLB advances outstanding at December 31, 2021 were as follows: 2029 $ 75,000 Total $ 75,000 |
Securities Sold Under Agreeme_2
Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Brokers and Dealers [Abstract] | |
Summary of Securities Pledged as Collateral Under Repurchase Agreements | The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of December 31, 2021 and 2020. All of the repurchase agreements are overnight agreements. December 31, December 31, Securities pledged for repurchase agreements: U.S. Treasury securities $ 16,478 $ 899 Obligations of U.S. government agencies 9,017 28,015 Total securities pledged $ 25,495 $ 28,914 Gross amount of recognized liabilities for repurchase agreements $ 25,495 $ 28,914 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Schedule of Securities Sold Under Agreements to Repurchase | Information concerning securities sold under agreements to repurchase was as follows: 2021 2020 2019 Outstanding balance at year end $ 25,495 $ 28,914 $ 18,674 Average balance during the year 24,390 24,390 18,321 Average interest rate during the year 0.09 % 0.10 % 0.10 % Maximum month-end balance during the year $ 34,200 $ 31,885 $ 21,970 Weighted average interest rate at year end 0.05 % 0.10 % 0.10 % |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income Tax | Income taxes were as follows for the years ended December 31: 2021 2020 2019 Current $ 5,111 $ 6,947 $ 4,713 State 587 270 307 Deferred 1,319 (2,277 ) 663 Income taxes $ 7,017 $ 4,940 $ 5,683 |
Effective Tax Rates Differed from Statutory Federal Income Tax Rate | Effective tax rates differed from the statutory federal income tax rate of 21% in 2021, 2020 and 2019 due to the following: 2021 2020 2019 Income taxes computed at the statutory federal tax rate $ 9,988 $ 7,798 $ 8,308 Add (subtract) tax effect of: Nontaxable interest income, net of nondeductible interest expense (1,315 ) (1,293 ) (1,194 ) Low income housing tax credit (1,402 ) (1,186 ) (903 ) Cash surrender value of BOLI (252 ) (205 ) (211 ) Change in tax position BOLI — — (353 ) Other (2 ) (174 ) 36 Income tax expense $ 7,017 $ 4,940 $ 5,683 |
Summary of Deferred Tax Assets and Liabilities | Year-end deferred tax assets and liabilities were due to the following: 2021 2020 Deferred tax assets Allowance for loan losses $ 5,595 $ 5,256 Deferred compensation 1,213 1,201 Pension costs 56 304 Intangible assets 231 312 Net operating loss carryforward — 509 Deferred loan fees 614 1,260 Other 713 745 Deferred tax asset 8,422 9,587 Deferred tax liabilities Tax depreciation in excess of book depreciation (973 ) (851 ) Discount accretion on securities (86 ) (10 ) FHLB stock dividends (969 ) (969 ) Unrealized gain on securities available for sale (3,806 ) (5,606 ) Prepaids (276 ) (325 ) Other (1,243 ) (979 ) Deferred tax liability (7,353 ) (8,740 ) Net deferred tax asset $ 1,069 $ 847 |
Retirement Plans (Tables)
Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Retirement Benefits [Abstract] | |
Information about Pension Plan | Information about the pension plan is as follows: 2021 2020 Change in benefit obligation: Beginning benefit obligation $ 16,656 $ 15,570 Service cost — — Interest cost 378 484 Curtailment gain — — Settlement loss — — Actuarial (gain)/loss (921 ) 1,898 Benefits paid (711 ) (1,296 ) Settlement payments (18 ) — Ending benefit obligation 15,384 16,656 Change in plan assets, at fair value: Beginning plan assets 15,257 15,183 Actual return 574 1,370 Employer contribution — — Benefits paid (711 ) (1,296 ) Settlement payments — — Administrative expenses — — Ending plan assets 15,120 15,257 Funded status at end of year $ (264 ) $ (1,399 ) |
Components of Net Periodic Pension Expense | The components of net periodic pension expense were as follows: 2021 2020 2019 Service cost $ — $ — $ — Interest cost 378 484 479 Expected return on plan assets (574 ) (748 ) (811 ) Net amortization and deferral 240 289 156 Net periodic pension cost (benefit) 44 25 (176 ) Additional loss due to settlement — — 0 Total pension cost (benefit) $ 44 $ 25 $ (176 ) Net loss (gain) recognized in other comprehensive income $ (854 ) $ 986 $ 2,798 Total recognized in net periodic benefit cost and other comprehensive loss (before tax) $ (810 ) $ 1,011 $ 2,622 |
Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost | The weighted average assumptions used to determine benefit obligations at year-end were as follows: 2021 2020 2019 Discount rate on benefit obligation 2.74 % 2.39 % 3.13 % Long-term rate of return on plan assets 3.84 % 4.44 % 4.96 % Rate of compensation increase 0.00 % 0.00 % 0.00 % The weighted average assumptions used to determine net periodic pension cost were as follows: 2021 2020 2019 Discount rate on benefit obligation 2.39 % 3.13 % 4.14 % Long-term rate of return on plan assets 4.44 % 4.96 % 7.00 % Rate of compensation increase 0.00 % 0.00 % 0.00 % |
Schedule of Pension Plan Asset Allocation and Target Allocation by Asset Category | The Company’s pension plan asset allocation at year-end 2021 and 2020 and target allocation for 2022 by asset category are as follows: Target Allocation Percentage of Plan Assets at Year-end Asset Category 2022 2021 2020 Equity securities 0-30 % 20.0 % 20.0 % Debt securities 70-100 80.0 80.0 Total 100.0 % 100.0 % |
Summary of Investments Measured at Fair Value Based on NAV Per Share | The following table summarizes investments measured at fair value based on NAV per share as of December 31, 2021 and 2020, respectively: December 31, 2021 Fair Value Unfunded Redemption Redemption Common/collective trust funds $ 15,120 N/A Daily Dail December 31, 2020 Fair Unfunded Redemption Redemption Common/collective trust funds $ 15,257 N/A Daily Dail |
Summary of Expected Benefit Payments | Expected benefit payments, which reflect expected future service, are as follows: 2022 $ 246 2023 288 2024 327 2025 391 2026 491 2027 through 2031 3,100 Total $ 4,843 |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Company's Restricted Stock | The following is a summary of the status of the Company’s restricted shares, and changes therein during the twelve months ended December 31, 2021: December 31, 2021 Number of Restricted Shares Weighted Average Grant Date Fair Value Nonvested at beginning of period 54,274 $ 20.90 Granted 39,139 19.17 Vested (20,275 ) 20.35 Forfeited (3,298 ) 19.74 Nonvested at end of period 69,840 20.14 The following is a summary of the status of the Company’s awarded restricted shares as of December 31, 2021: At December 31, 2021 Date of Award Shares Remaining Expense Remaining Vesting Period (Years) March 20, 2017 1,198 $ — 0.00 April 10, 2018 3,114 31 1.00 March 14, 2019 3,174 — 0.00 March 14, 2019 6,560 79 2.00 March 14, 2020 8,595 85 1.00 March 14, 2020 10,390 148 3.00 March 3, 2021 16,277 226 4.00 March 3, 2021 20,532 262 2.00 69,840 $ 831 2.30 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value | Fair Value Measurements at December 31, 2021 using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: Securities available for sale U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 47,890 $ — Obligations of states and political subdivisions — 298,836 — Mortgage-backed securities in government sponsored entities — 213,148 — Total securities available for sale — 559,874 — Equity securities — 1,072 — Swap asset — 11,072 — Liabilities measured at fair value on a recurring basis: Swap liability — 11,072 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 11 Mortgage servicing rights — — 2,642 Fair Value Measurements at December 31, 2020 using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: Securities available for sale U.S. Treasury securities and obligations of $ — $ 21,693 $ — Obligations of states and political subdivisions — 229,012 — Mortgage-backed securities in government — 112,759 — Total securities available for sale — 363,464 — Equity securities — 886 — Swap asset — 21,700 — Liabilities measured at fair value on a recurring Swap liability — 21,764 — Assets measured at fair value on a nonrecurring Impaired Loans $ — $ — $ 1 Mortgage servicing rights — — 2,246 Other Real Estate Owned — — 31 |
Quantitative Information about Level 3 Fair Value Measurements | The following tables presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2021 and 2020. Quantitative Information about Level 3 Fair Value Measurements December 31, 2021 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 11 Appraisal of Appraisal 10% 10% Holding period 24 months 24 months Quantitative Information about Level 3 Fair Value Measurements December 31, 2020 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 1 Appraisal of Appraisal 0% - 30% 19% Holding period 23 months 23 months Other real estate owned $ 31 Appraisal of Appraisal 10% 10% |
Carrying Amount and Fair Value of Financial Instruments Carried at Amortized Cost | The carrying amount and fair value of financial instruments carried at amortized cost were as follows: December 31, 2021 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 265,969 $ 265,969 $ 265,969 $ — $ — Other securities 17,011 17,011 17,011 — — Loans, held for sale 1,972 2,011 2,011 — — Loans, net of allowance for loan losses 1,971,238 1,945,638 — — 1,945,638 Bank owned life insurance 47,176 47,176 47,176 — — Accrued interest receivable 7,385 7,385 7,385 — — Financial Liabilities: Nonmaturing deposits 2,170,253 2,170,253 2,170,253 — — Time deposits 246,448 247,053 — — 247,053 Long-term FHLB advances 75,000 75,930 — — 75,930 Securities sold under agreement to repurchase 25,495 25,495 25,495 — — Subordinated debentures 102,813 111,118 — — 111,118 Accrued interest payable 315 315 315 — — December 31, 2020 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 139,522 $ 139,522 $ 139,522 $ — $ — Other securities 20,537 20,537 20,537 — — Loans, held for sale 7,001 7,141 7,141 — — Loans, net of allowance for loan losses 2,032,474 2,063,249 — — 2,063,249 Bank owned life insurance 46,976 45,976 45,976 — — Accrued interest receivable 9,421 9,421 9,421 — — Financial Liabilities: Nonmaturing deposits 1,902,560 1,902,560 1,902,560 — — Time deposits 286,838 288,298 — — 288,298 Long-term FHLB advances 125,000 130,942 — — 130,942 Securities sold under agreement to repurchase 28,914 28,914 28,914 — — Subordinated debentures 29,427 31,479 — — 31,479 Accrued interest payable 204 204 204 — — |
Commitments, Contingencies an_2
Commitments, Contingencies and Off-Balance-Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Amounts of Financial Instruments with Off-Balance-Sheet Risk | The contractual amount of financial instruments with off-balance-sheet risk was as follows at year-end. 2021 2020 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to extend credit: Lines of credit and construction loans $ 33,542 $ 455,777 $ 38,474 $ 427,864 Overdraft protection 7 54,034 6 41,707 Letters of credit 615 731 615 986 $ 34,164 $ 510,542 $ 39,095 $ 470,557 |
Capital Requirements and Rest_2
Capital Requirements and Restriction on Retained Earnings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Capital Requirements And Restriction On Retained Earnings [Abstract] | |
Actual Capital Levels and Minimum Required Capital Levels | The Company’s and Civista’s actual capital levels and minimum required capital levels at December 31, 2021 and 2020 were as follows: Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Purposes Amount Ratio Amount Ratio Amount Ratio 2021 Total Risk Based Capital Consolidated $ 394,164 19.2 % $ 164,498 8.0 % n/a n/a Civista 338,383 16.5 164,483 8.0 $ 205,604 10.0 % Tier I Risk Based Capital Consolidated 295,064 14.3 123,373 6.0 n/a n/a Civista 312,671 15.2 123,362 6.0 164,483 8.0 CET1 Risk Based Capital Consolidated 265,637 12.9 92,530 4.5 n/a n/a Civista 312,671 15.2 92,522 4.5 133,642 6.5 Leverage Consolidated 295,064 10.2 115,543 4.0 n/a n/a Civista 312,671 10.8 115,408 4.0 144,260 5.0 2020 Total Risk Based Capital Consolidated $ 307,504 16.0 % $ 153,810 8.0 % n/a n/a Civista 277,429 14.4 153,765 8.0 $ 192,206 10.0 % Tier I Risk Based Capital Consolidated 283,459 14.7 115,358 6.0 n/a n/a Civista 252,304 13.1 115,323 6.0 153,765 8.0 CET1 Risk Based Capital Consolidated 254,032 13.2 86,518 4.5 n/a n/a Civista 241,891 12.6 86,493 4.5 124,934 6.5 Leverage Consolidated 283,459 10.8 105,279 4.0 n/a n/a Civista 252,304 9.6 105,029 4.0 131,286 5.0 |
Parent Company Only Condensed_2
Parent Company Only Condensed Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Condensed Financial Information Disclosure [Abstract] | |
Schedule of Condensed Balance Sheets | December 31, Condensed Balance Sheets 2021 2020 Assets: Cash $ 45,800 $ 19,446 Equity securities 1,072 886 Investment in bank subsidiary 408,255 344,948 Investment in nonbank subsidiaries 3,474 16,017 Other assets 2,016 1,575 Total assets $ 460,617 $ 382,872 Liabilities: Deferred income taxes and other liabilities $ 2,592 $ 3,337 Subordinated debentures 102,813 29,427 Total liabilities 105,405 32,764 Shareholders’ Equity: Common stock 277,741 277,039 Accumulated earnings 125,558 93,048 Treasury Stock (56,907 ) (34,598 ) Accumulated other comprehensive income 8,820 14,619 Total shareholders’ equity 355,212 350,108 Total liabilities and shareholders’ equity $ 460,617 $ 382,872 |
Schedule of Condensed Statements of Operations | For the years ended December 31, Condensed Statements of Operations 2021 2020 2019 Dividends from bank subsidiaries $ 19,900 $ 15,300 $ 13,300 Dividends from non-bank subsidiaries 1,000 440 — Interest expense (956 ) (945 ) (1,423 ) Pension expense (47 ) (25 ) 176 Other expense, net (1,004 ) (1,241 ) (1,107 ) Income (loss) before equity in undistributed net 18,893 13,529 10,946 Income tax benefit 425 475 494 Equity in undistributed net earnings of subsidiaries 21,228 18,188 22,438 Net income $ 40,546 $ 32,192 $ 33,878 Comprehensive income $ 34,747 $ 39,937 $ 42,204 |
Schedule of Condensed Statements of Cash Flows | For the years ended December 31, Condensed Statements of Cash Flows 2021 2020 2019 Operating activities: Net income $ 40,546 $ 32,192 $ 33,878 Adjustment to reconcile net income to net cash Change in other assets and other liabilities 2,495 1,925 4,437 Equity in undistributed net earnings of (21,228 ) (18,188 ) (22,438 ) Net cash from (used for) operating activities 21,813 15,929 15,877 Investing activities: Disposal of minority interest 11,500 — — Disposal of investment in subsidiary — — 41 Acquisition and additional capitalization of (50,000 ) — — Net cash from (used for) investing activities (38,500 ) — 41 Financing activities: Cash paid on fractional shares on preferred stock — — (2 ) Proceeds from subordinated debenture, net of 73,386 — — Purchase of treasury stock (22,309 ) (13,454 ) (3,909 ) Payment to repurchase series B preferred stock — — (402 ) Cash dividends paid (8,036 ) (7,118 ) (7,194 ) Net cash used for financing activities 43,041 (20,572 ) (11,507 ) Net change in cash and cash equivalents 26,354 (4,643 ) 4,411 Cash and cash equivalents at beginning of year 19,446 24,089 19,678 Cash and cash equivalents at end of year $ 45,800 $ 19,446 $ 24,089 |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Common Share | The factors used in the earnings per share computation follow. 2021 2020 2019 Basic Net income $ 40,546 $ 32,192 $ 33,878 Preferred stock dividends — — 647 Less allocation of earnings and dividends to 173 98 87 Net income available to common $ 40,373 $ 32,094 $ 33,144 Weighted average common shares outstanding 15,408,863 16,129,875 15,652,881 Less average participating securities 65,648 49,012 40,013 Weighted average number of shares outstanding 15,343,215 16,080,863 15,612,868 Basic earnings per share $ 2.63 $ 2.00 $ 2.12 Diluted Net income available to common $ 40,373 $ 32,094 $ 33,144 Preferred stock dividends on convertible — — 647 Net income available to common $ 40,373 $ 32,094 $ 33,791 Weighted average common shares outstanding 15,343,215 16,080,863 15,612,868 Add: dilutive effects of convertible preferred — — 1,198,859 Average shares and dilutive potential 15,343,215 16,080,863 16,851,740 Diluted earnings per share $ 2.63 $ 2.00 $ 2.01 |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Interest Rate Swap Transactions | The following table reflects the derivatives recorded on the balance sheet as of December 31: 2021 2020 Notional Amount Fair Value Notional Amount Fair Value Included in other assets: Interest rate swaps with loan customers in $ 173,490 $ 11,072 $ 244,748 $ 21,700 Total included in other assets $ 11,072 $ 21,700 Included in accrued expenses and other liabilities: Interest rate swaps with loan customers in $ 71,328 $ 1,628 $ — $ — Counterparty positions with financial 71,328 (1,628 ) — — Counterparty positions with financial 173,490 11,072 244,748 21,764 Total included in accrued expenses and $ 11,072 $ 21,764 Gross notional positions with customers $ 244,818 $ 244,748 Gross notional positions with financial $ 244,818 $ 244,748 |
Summary of Gain or loss On Derivatives | The effect of swap fair value changes on the Consolidated Statement of Operations for the years ended December 31, 2021, 2020 and 2019 are as follows: Derivatives Not Designated Location of Gain or (Loss) Recognized in Amount of Gain or (Loss) as Hedging Instruments Income on Derivative 2021 2020 2019 Interest rate swaps related to Other income $ 64 $ (64) $ — Total $ 64 $ (64) $ — |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Summary of Noninterest Income Segregated By Revenue Streams In-scope and Out-of-scope of Topic 606 | The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2021, 2020 and 2019. For the years ended 2021 2020 2019 Noninterest Income In-scope of Topic 606: Service charges $ 5,905 $ 5,288 $ 6,395 ATM/Interchange fees 5,443 4,472 4,056 Wealth management fees 4,857 3,981 3,670 Tax refund processing fees 2,375 2,375 2,750 Other 1,055 831 911 Noninterest Income (in-scope of Topic 606) 19,635 16,947 17,782 Noninterest Income (out-of-scope of Topic 606) 11,817 11,235 4,661 Total Noninterest Income $ 31,452 $ 28,182 $ 22,443 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Summary of Balance Sheet Information Related To Operating Leases | The balance sheet information related to our operating leases were as follows as of December 31, 2021 and 2020: Classification on the December 31, 2021 December 31, 2020 Assets: Operating lease Other assets $ 2,314 $ 2,678 Liabilities: Operating lease Accrued liabilities $ 2,314 $ 2,678 |
Summary of Cost Components of Operating Leases | The cost components of our operating leases were as follows for the periods ended December 31, 2021 and 2020: December 31, December 31, Lease cost Operating lease cost $ 427 $ 499 Short-term lease cost 161 304 Sublease income (29 ) (26 ) Total lease cost $ 559 $ 777 |
Summary of Maturity of Operating Lease Liabilities | Maturities of our lease liabilities for all operating leases for each of the next five years and thereafter is as follows: 2022 $ 420 2023 414 2024 406 2025 308 2026 258 Thereafter 728 Total lease payments $ 2,534 Less: Imputed Interest 220 Present value of lease liabilities $ 2,314 |
Summary of Weighted Average Remaining Lease Terms And Discount Rates For Operating Leases | The weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of December 31, 2021: Weighted-average remaining lease term - operating leases (years) 5.60 Weighted-average discount rate - operating leases 2.82 % |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2021USD ($)Segment$ / shares | Dec. 31, 2020USD ($) | Dec. 31, 2019 | |
Significant Accounting Policies [Line Items] | |||
Allowance for loan losses related to commercial, commercial real estate and farm real estate loans | $ 1,500,000 | ||
Number of days reaching which loans are considered for nonaccrual status | 90 days | ||
Loans past due charged down to the net realizable value period | 90 days | ||
Federal Home Loan Bank par value | $ / shares | $ 100 | ||
Reserve amount | $ 0 | ||
Number of operating segments | Segment | 1 | ||
ASU 2016-13 [Member] | |||
Significant Accounting Policies [Line Items] | |||
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false] | true | ||
ASU 2019-05 [Member] | |||
Significant Accounting Policies [Line Items] | |||
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false] | false | ||
ASU 2020-08 [Member] | |||
Significant Accounting Policies [Line Items] | |||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2021 | ||
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true | ||
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false] | true | ||
Cash and Cash Equivalents [Member] | Interest Rate Swap [Member] | |||
Significant Accounting Policies [Line Items] | |||
Cash pledged as collateral | $ 10,780,000 | $ 11,300,000 | |
Unsecured Debt [Member] | |||
Significant Accounting Policies [Line Items] | |||
Retail loans past due charge off period | 90 days | ||
Secured Debt [Member] | |||
Significant Accounting Policies [Line Items] | |||
Residential real estate loans past due assessment of value period | 180 days | ||
Other Debt [Member] | |||
Significant Accounting Policies [Line Items] | |||
Loans past due charged down to the net realizable value period | 90 days | ||
Maximum [Member] | |||
Significant Accounting Policies [Line Items] | |||
Percentage of insurance commission revenue of total revenue | 1.00% | 1.00% | 1.00% |
Original maturities for cash and cash equivalents | 90 days | ||
Estimated useful life of intangible assets | 12 years | ||
Maximum [Member] | Furniture and Equipment [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of asset | 7 years | ||
Maximum [Member] | Buildings and Improvements [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of asset | 50 years | ||
Maximum [Member] | WSP [Member] | |||
Significant Accounting Policies [Line Items] | |||
Percentage of insurance commission revenue of total revenue | 1.00% | 1.00% | 1.00% |
Maximum [Member] | CIVB Risk Management, Inc. [Member] | |||
Significant Accounting Policies [Line Items] | |||
Percentage of insurance commission revenue of total revenue | 1.00% | 1.00% | 1.00% |
Minimum [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of intangible assets | 5 years | ||
Minimum [Member] | Furniture and Equipment [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of asset | 3 years | ||
Minimum [Member] | Buildings and Improvements [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of asset | 7 years |
Securities - Available for Sale
Securities - Available for Sale Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | $ 541,297 | $ 336,316 |
Gross Unrealized Gains | 20,664 | 27,183 |
Gross Unrealized Losses | (2,087) | (35) |
Fair Value | 559,874 | 363,464 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | 48,390 | 21,479 |
Gross Unrealized Gains | 30 | 220 |
Gross Unrealized Losses | (530) | (6) |
Fair Value | 47,890 | 21,693 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | 281,247 | 208,013 |
Gross Unrealized Gains | 17,696 | 21,000 |
Gross Unrealized Losses | (107) | (1) |
Fair Value | 298,836 | 229,012 |
Mortgage-back Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | 211,660 | 106,824 |
Gross Unrealized Gains | 2,938 | 5,963 |
Gross Unrealized Losses | (1,450) | (28) |
Fair Value | $ 213,148 | $ 112,759 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Investments Debt And Equity Securities [Abstract] | ||
Amortized Cost, Due in one year or less | $ 3,786 | |
Amortized Cost, Due from one to five years | 32,034 | |
Amortized Cost, Due from five to ten years | 61,675 | |
Amortized Cost, Due after ten years | 232,142 | |
Amortized Cost, Mortgage-backed securities in government sponsored entities | 211,660 | |
Amortized Cost, Total securities available for sale | 541,297 | $ 336,316 |
Fair Value, Due in one year or less | 3,789 | |
Fair Value, Due from one to five years | 32,121 | |
Fair Value, Due from five to ten years | 63,083 | |
Fair Value, Due after ten years | 247,733 | |
Fair Value, Mortgage-backed securities in government sponsored entities | 213,148 | |
Fair Value, Total securities available for sale | $ 559,874 | $ 363,464 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | Dec. 31, 2021USD ($)Security | Dec. 31, 2020USD ($) |
Investments Debt And Equity Securities [Abstract] | ||
Carrying value of pledged securities | $ | $ 168,435 | $ 159,527 |
Number of securities in portfolio with unrealized losses | Security | 50 |
Securities - Proceeds from Sale
Securities - Proceeds from Sales of Securities, Gross Realized Gains and Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments Debt And Equity Securities [Abstract] | |||
Sale proceeds | $ 1,810 | $ 1,455 | $ 17,570 |
Gross realized gains | 1,785 | 94 | 47 |
Gross realized losses | 0 | 0 | 43 |
Gains from securities called or settled by the issuer | $ 1 | $ 0 | $ 28 |
Securities - Securities with Un
Securities - Securities with Unrealized Losses Not Recognized in Income (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | $ 208,556 | $ 14,130 |
12 Months or less, Unrealized Loss | (1,923) | (34) |
More than 12 months, Fair Value | 5,137 | 126 |
More than 12 months, Unrealized Loss | (164) | (1) |
Total Fair Value | 213,693 | 14,256 |
Total Unrealized Loss | (2,087) | (35) |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 41,432 | 6,501 |
12 Months or less, Unrealized Loss | (473) | (5) |
More than 12 months, Fair Value | 2,014 | 126 |
More than 12 months, Unrealized Loss | (57) | (1) |
Total Fair Value | 43,446 | 6,627 |
Total Unrealized Loss | (530) | (6) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 25,797 | 1,874 |
12 Months or less, Unrealized Loss | (107) | (1) |
Total Fair Value | 25,797 | 1,874 |
Total Unrealized Loss | (107) | (1) |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 141,327 | 5,755 |
12 Months or less, Unrealized Loss | (1,343) | (28) |
More than 12 months, Fair Value | 3,123 | |
More than 12 months, Unrealized Loss | (107) | |
Total Fair Value | 144,450 | 5,755 |
Total Unrealized Loss | $ (1,450) | $ (28) |
Securities - Schedule of Net Ga
Securities - Schedule of Net Gains and Losses on Equity Investments Recognized in Earnings and Portion of Unrealized Gains and Losses for Period that Relates to Equity Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments Debt And Equity Securities [Abstract] | |||
Less: Net gains realized on the sale of equity securities during the period | $ 6 | ||
Unrealized gains (losses) recognized in equity securities held at December 31 | $ 186 | (51) | |
Net gains (losses) recognized on equity securities during the year | $ 186 | $ (57) | $ 121 |
Loans - Loan Balances (Detail)
Loans - Loan Balances (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | $ 1,997,879 | $ 2,057,502 |
Allowance for loan losses | (26,641) | (25,028) |
Net loans | 1,971,238 | 2,032,474 |
Commercial and Agriculture [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 246,502 | 409,876 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 295,452 | 278,413 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 829,310 | 705,072 |
Residential Real Estate [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 430,060 | 442,588 |
Real Estate Construction [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 157,127 | 175,609 |
Farm Real Estate [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 28,419 | 33,102 |
Consumer and Other [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | $ 11,009 | $ 12,842 |
Loans - Additional Information
Loans - Additional Information (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2020Contract | Dec. 31, 2021USD ($)EmployeeLoan | Dec. 31, 2020USD ($)Loan | Dec. 31, 2019Contract | Dec. 27, 2020USD ($) | |
Accounts Notes And Loans Receivable [Line Items] | |||||
Total loans | $ 1,997,879 | $ 2,057,502 | |||
Net deferred loan fees | 2,924 | 5,998 | |||
Number of loans processed | Contract | 1 | ||||
Loans processed | 0 | 0 | |||
Loans and Leases Receivable, Net Amount | 1,971,238 | 2,032,474 | |||
Paycheck Protection Program Loans [Member] | |||||
Accounts Notes And Loans Receivable [Line Items] | |||||
Net deferred loan fees | $ 1,762 | $ 5,194 | |||
Number of loans processed | Loan | 1,340 | 2,300 | |||
Loans processed | $ 131,109 | $ 268,300 | $ 284,500,000 | ||
Number of employees | Employee | 300 | ||||
Percentage of reduction in gross revenues | 25.00% | ||||
Maximum of monthly payroll allowable amount | $ 2,000 | ||||
Loans and Leases Receivable, Net Amount | 6,115 | 6,986 | |||
Commercial and Agriculture [Member] | |||||
Accounts Notes And Loans Receivable [Line Items] | |||||
Total loans | 246,502 | 409,876 | |||
Number of loans processed | Contract | 813 | ||||
Loans processed | 431,300 | ||||
Commercial and Agriculture [Member] | Paycheck Protection Program Loans [Member] | |||||
Accounts Notes And Loans Receivable [Line Items] | |||||
Total loans | $ 43,209 | $ 217,295 |
Loans - Loans to Directors and
Loans - Loans to Directors and Executive Officers Including Immediate Families (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Receivables, Other, Related Parties and Retainage [Abstract] | ||
Balance - Beginning of year | $ 8,475 | $ 9,909 |
New loans and advances | 15,522 | 1,153 |
Repayments | (6,693) | (3,004) |
Effect of changes to related parties | 143 | 417 |
Balance - End of year | $ 17,447 | $ 8,475 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2020USD ($)ContractLoan | Dec. 31, 2021USD ($)ContractSecurityLoan | Dec. 31, 2020USD ($)SecurityLoan | Dec. 31, 2019USD ($)ContractSecurityLoan | |
Accounts Notes And Loans Receivable [Line Items] | ||||
Period for calculating Loss migration rates of portfolio segments | 3 years | |||
Allowance for loan losses | $ 26,641 | $ 25,028 | ||
Provision for loan losses | $ 830 | $ 10,112 | $ 1,035 | |
Percentage of eligible paycheck protection program loan | 100.00% | |||
Number of days past due for loans to be considered as nonperforming | 90 days | |||
Reasonable period for nonperforming TDRs to be returned to performing status | 6 months | |||
Number of days reaching where loans are considered for nonaccrual status | 90 days | |||
Conditions where loans are considered for nonaccrual status | A loan may be returned to accruing status only if one of three conditions are met: the loan is well-secured and none of the principal and interest has been past due for a minimum of 90 days; the loan is a TDR and the borrower has made a minimum of six months payments; or the principal and interest payments are reasonably assured and a sustained period of performance has occurred, generally six months. | |||
Gross interest income recorded on nonaccrual loans | $ 307 | $ 536 | 571 | |
Interest income on nonaccrual loans recognized on cash basis | 716 | 477 | $ 379 | |
Loans modified as troubled debt restructuring | $ 0 | $ 0 | ||
Defaulted loans | SecurityLoan | 0 | 0 | 0 | |
Impaired loans | greater than $350 | |||
Number of loans modified | Contract | 1 | |||
Foreclosed assets | $ 0 | $ 31 | ||
Allowance for loan losses recorded for acquired loans | 0 | 0 | ||
Residential Mortgage [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Residential mortgages in process of foreclosure | 293 | $ 741 | ||
Commercial and Agriculture [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Provision for loan losses | (360) | 604 | 500 | |
Loans modified as troubled debt restructuring | 431,300 | |||
Number of loans modified | Contract | 813 | |||
Commercial and Agriculture [Member] | Second Modifications [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Loans modified as troubled debt restructuring | $ 5,142 | |||
Number of loans modified | Contract | 7 | |||
Commercial and Agriculture [Member] | Additional 90 Day Modifications [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Loans modified as troubled debt restructuring | $ 124,400 | |||
Number of loans modified | Loan | 100 | |||
TDRs [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses | $ 18 | $ 35 | $ 91 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in the Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Notes And Loans Receivable [Line Items] | |||
Beginning balance | $ 25,028 | $ 14,767 | $ 13,679 |
Charge-offs | (159) | (465) | (776) |
Recoveries | 942 | 614 | 829 |
Provision (Credit) | 830 | 10,112 | 1,035 |
Ending Balance | 26,641 | 25,028 | 14,767 |
Commercial and Agriculture [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Beginning balance | 2,810 | 2,219 | 1,747 |
Charge-offs | (15) | (20) | (114) |
Recoveries | 165 | 7 | 86 |
Provision (Credit) | (360) | 604 | 500 |
Ending Balance | 2,600 | 2,810 | 2,219 |
Commercial Real Estate Owner Occupied [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Beginning balance | 4,057 | 2,541 | 1,962 |
Charge-offs | (148) | (161) | |
Recoveries | 7 | 259 | 289 |
Provision (Credit) | 400 | 1,405 | 451 |
Ending Balance | 4,464 | 4,057 | 2,541 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Beginning balance | 12,451 | 6,584 | 5,803 |
Recoveries | 395 | 48 | 102 |
Provision (Credit) | 1,014 | 5,819 | 679 |
Ending Balance | 13,860 | 12,451 | 6,584 |
Residential Real Estate [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Beginning balance | 2,484 | 1,582 | 1,531 |
Charge-offs | (120) | (236) | (294) |
Recoveries | 302 | 218 | 259 |
Provision (Credit) | (69) | 920 | 86 |
Ending Balance | 2,597 | 2,484 | 1,582 |
Real Estate Construction [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Beginning balance | 2,439 | 1,250 | 1,046 |
Charge-offs | (24) | ||
Recoveries | 1 | 4 | 3 |
Provision (Credit) | (630) | 1,185 | 225 |
Ending Balance | 1,810 | 2,439 | 1,250 |
Farm Real Estate [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Beginning balance | 338 | 344 | 397 |
Recoveries | 12 | 13 | 5 |
Provision (Credit) | (63) | (19) | (58) |
Ending Balance | 287 | 338 | 344 |
Consumer and Other [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Beginning balance | 209 | 247 | 284 |
Charge-offs | (24) | (61) | (183) |
Recoveries | 60 | 65 | 85 |
Provision (Credit) | (69) | (42) | 61 |
Ending Balance | 176 | 209 | 247 |
Unallocated [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Beginning balance | 240 | 909 | |
Provision (Credit) | 607 | 240 | $ (909) |
Ending Balance | $ 847 | $ 240 |
Allowance for Loan Losses - End
Allowance for Loan Losses - Ending Allocation of Allowance for Loan Losses and Loan Balances Outstanding (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses, Individually evaluated for impairment | $ 18 | $ 107 | ||
Allowance for loan losses, Collectively evaluated for impairment | 26,623 | 24,921 | ||
Allowance for loan losses, Total | 26,641 | 25,028 | $ 14,767 | $ 13,679 |
Outstanding loan balances, Individually evaluated for impairment | 1,222 | 2,666 | ||
Outstanding loan balances, Collectively evaluated for impairment | 1,996,367 | 2,054,448 | ||
Outstanding loan balances, Total | 1,997,879 | 2,057,502 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Loan balance of loans acquired with credit deterioration | 290 | 388 | ||
Commercial and Agriculture [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses, Individually evaluated for impairment | 73 | |||
Allowance for loan losses, Collectively evaluated for impairment | 2,600 | 2,737 | ||
Allowance for loan losses, Total | 2,600 | 2,810 | 2,219 | 1,747 |
Outstanding loan balances, Individually evaluated for impairment | 74 | |||
Outstanding loan balances, Collectively evaluated for impairment | 246,502 | 409,802 | ||
Outstanding loan balances, Total | 246,502 | 409,876 | ||
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses, Individually evaluated for impairment | 7 | 5 | ||
Allowance for loan losses, Collectively evaluated for impairment | 4,457 | 4,052 | ||
Allowance for loan losses, Total | 4,464 | 4,057 | 2,541 | 1,962 |
Outstanding loan balances, Individually evaluated for impairment | 187 | 980 | ||
Outstanding loan balances, Collectively evaluated for impairment | 295,265 | 277,433 | ||
Outstanding loan balances, Total | 295,452 | 278,413 | ||
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 13,860 | 12,451 | ||
Allowance for loan losses, Total | 13,860 | 12,451 | 6,584 | 5,803 |
Outstanding loan balances, Individually evaluated for impairment | 48 | |||
Outstanding loan balances, Collectively evaluated for impairment | 829,310 | 705,024 | ||
Outstanding loan balances, Total | 829,310 | 705,072 | ||
Residential Real Estate [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses, Individually evaluated for impairment | 11 | 29 | ||
Allowance for loan losses, Collectively evaluated for impairment | 2,586 | 2,455 | ||
Allowance for loan losses, Total | 2,597 | 2,484 | 1,582 | 1,531 |
Outstanding loan balances, Individually evaluated for impairment | 526 | 946 | ||
Outstanding loan balances, Collectively evaluated for impairment | 429,244 | 441,254 | ||
Outstanding loan balances, Total | 430,060 | 442,588 | ||
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Loan balance of loans acquired with credit deterioration | 290 | 388 | ||
Real Estate Construction [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 1,810 | 2,439 | ||
Allowance for loan losses, Total | 1,810 | 2,439 | 1,250 | 1,046 |
Outstanding loan balances, Collectively evaluated for impairment | 157,127 | 175,609 | ||
Outstanding loan balances, Total | 157,127 | 175,609 | ||
Farm Real Estate [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 287 | 338 | ||
Allowance for loan losses, Total | 287 | 338 | 344 | 397 |
Outstanding loan balances, Individually evaluated for impairment | 509 | 618 | ||
Outstanding loan balances, Collectively evaluated for impairment | 27,910 | 32,484 | ||
Outstanding loan balances, Total | 28,419 | 33,102 | ||
Consumer and Other [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 176 | 209 | ||
Allowance for loan losses, Total | 176 | 209 | $ 247 | 284 |
Outstanding loan balances, Collectively evaluated for impairment | 11,009 | 12,842 | ||
Outstanding loan balances, Total | 11,009 | 12,842 | ||
Unallocated [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan losses, Collectively evaluated for impairment | 847 | 240 | ||
Allowance for loan losses, Total | $ 847 | $ 240 | $ 909 |
Allowance for Loan Losses - Cre
Allowance for Loan Losses - Credit Exposures by Internally Assigned Grades (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 1,619,094 | $ 1,674,591 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 246,502 | 409,876 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 295,452 | 278,413 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 829,310 | 705,072 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 82,213 | 87,601 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 136,414 | 159,661 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 28,419 | 33,102 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 784 | 866 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,541,115 | 1,525,796 |
Pass [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 244,787 | 401,636 |
Pass [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 290,617 | 248,316 |
Pass [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 764,181 | 604,909 |
Pass [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 77,594 | 81,409 |
Pass [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 136,149 | 158,207 |
Pass [Member] | Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 27,023 | 30,486 |
Pass [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 764 | 833 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 32,316 | 84,017 |
Special Mention [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 526 | 4,472 |
Special Mention [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 3,119 | 19,429 |
Special Mention [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 28,042 | 58,270 |
Special Mention [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 164 | 668 |
Special Mention [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 260 | 962 |
Special Mention [Member] | Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 205 | 216 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 45,663 | 64,778 |
Substandard [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,189 | 3,768 |
Substandard [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,716 | 10,668 |
Substandard [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 37,087 | 41,893 |
Substandard [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 4,455 | 5,524 |
Substandard [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 5 | 492 |
Substandard [Member] | Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,191 | 2,400 |
Substandard [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 20 | $ 33 |
Allowance for Loan Losses - Per
Allowance for Loan Losses - Performing and Nonperforming Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | $ 378,785 | $ 382,911 |
Total | 378,785 | 382,911 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 347,847 | 354,987 |
Total | 347,847 | 354,987 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 20,713 | 15,948 |
Total | 20,713 | 15,948 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 10,225 | 11,976 |
Total | $ 10,225 | $ 11,976 |
Allowance for Loan Losses - Agi
Allowance for Loan Losses - Aging Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 4,070 | $ 3,624 |
Total Loans | 1,997,879 | 2,057,502 |
Past Due 90 Days and Accruing | 0 | |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,139 | 1,235 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 892 | 897 |
90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,039 | 1,492 |
Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,993,519 | 2,053,490 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 290 | 388 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 340 | 192 |
Total Loans | 246,502 | 409,876 |
Commercial and Agriculture [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 249 | 117 |
Commercial and Agriculture [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 13 | 25 |
Commercial and Agriculture [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 78 | 50 |
Commercial and Agriculture [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 246,162 | 409,684 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 106 | 106 |
Total Loans | 295,452 | 278,413 |
Commercial Real Estate Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | |
Commercial Real Estate Owner Occupied [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 106 | 102 |
Commercial Real Estate Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 295,346 | 278,307 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | 6 |
Total Loans | 829,310 | 705,072 |
Commercial Real Estate Non Owner Occupied [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | 6 |
Commercial Real Estate Non Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 829,306 | 705,066 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,569 | 3,240 |
Total Loans | 430,060 | 442,588 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,848 | 1,059 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 879 | 867 |
Residential Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 842 | 1,314 |
Residential Real Estate [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 426,201 | 438,960 |
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 290 | 388 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 157,127 | 175,609 |
Real Estate Construction [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 157,127 | 175,609 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | |
Total Loans | 28,419 | 33,102 |
Farm Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | |
Farm Real Estate [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 28,419 | 33,098 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 51 | 76 |
Total Loans | 11,009 | 12,842 |
Consumer and Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 42 | 59 |
Consumer and Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1 | |
Consumer and Other [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9 | 16 |
Consumer and Other [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 10,958 | $ 12,766 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Nonaccrual Loans Excluding Purchased Credit-Impaired (PCI) Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 3,673 | $ 5,125 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 78 | 139 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 334 | 964 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 4 | 6 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 3,232 | 3,893 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 5 | 7 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 85 | |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 20 | $ 31 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of TDR (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($)Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Number of loans modified | Contract | 1 |
Pre- Modification Outstanding Recorded Investment | $ 382 |
Post-Modification Outstanding Recorded Investment | $ 382 |
Commercial Real Estate Non Owner Occupied [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Number of loans modified | Contract | 1 |
Pre- Modification Outstanding Recorded Investment | $ 382 |
Post-Modification Outstanding Recorded Investment | $ 382 |
Allowance for Loan Losses - S_2
Allowance for Loan Losses - Schedule of Loan Modifications (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2020Contract | Dec. 31, 2021USD ($)Contract | Dec. 31, 2019Contract | Dec. 31, 2020USD ($) | |
Financing Receivable Modifications [Line Items] | ||||
Number of loans modified | 1 | |||
Loans modified as troubled debt restructuring | $ | $ 0 | $ 0 | ||
Second Modifications [Member] | CARES Act [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of loans modified | 7 | |||
Loans modified as troubled debt restructuring | $ | $ 5,142 | |||
Percent of Loans Outstanding | 0.26% | |||
Commercial and Agriculture [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of loans modified | 813 | |||
Loans modified as troubled debt restructuring | $ | $ 431,300 | |||
Commercial and Agriculture [Member] | Second Modifications [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of loans modified | 7 | |||
Loans modified as troubled debt restructuring | $ | $ 5,142 | |||
Commercial and Agriculture [Member] | Second Modifications [Member] | CARES Act [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of loans modified | 2 | |||
Loans modified as troubled debt restructuring | $ | $ 498 | |||
Percent of Loans Outstanding | 0.03% | |||
Commercial Real Estate Non Owner Occupied [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of loans modified | 1 | |||
Commercial Real Estate Non Owner Occupied [Member] | Second Modifications [Member] | CARES Act [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of loans modified | 5 | |||
Loans modified as troubled debt restructuring | $ | $ 4,644 | |||
Percent of Loans Outstanding | 0.24% |
Allowance for Loan Losses - Imp
Allowance for Loan Losses - Impaired Financing Receivables Excluding PCI Loans - Recorded Investment and Unpaid Principal Balances (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | $ 1,012 | $ 2,338 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,037 | 2,363 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 210 | 328 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 214 | 332 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 18 | 107 |
Impaired financing receivables, Recorded Investment, Total | 1,222 | 2,666 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,251 | 2,695 |
Impaired financing receivables, Related Allowance, Total | 18 | 107 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with an allowance recorded, Recorded Investment | 74 | |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 74 | |
Impaired financing receivables, with an allowance recorded, Related Allowance | 73 | |
Impaired financing receivables, Recorded Investment, Total | 74 | |
Impaired financing receivables, Unpaid Principal Balance, Total | 74 | |
Impaired financing receivables, Related Allowance, Total | 73 | |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 757 | |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 757 | |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 187 | 223 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 187 | 223 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 7 | 5 |
Impaired financing receivables, Recorded Investment, Total | 187 | 980 |
Impaired financing receivables, Unpaid Principal Balance, Total | 187 | 980 |
Impaired financing receivables, Related Allowance, Total | 7 | 5 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 48 | |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 48 | |
Impaired financing receivables, Recorded Investment, Total | 48 | |
Impaired financing receivables, Unpaid Principal Balance, Total | 48 | |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 503 | 915 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 528 | 940 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 23 | 31 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 27 | 35 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 11 | 29 |
Impaired financing receivables, Recorded Investment, Total | 526 | 946 |
Impaired financing receivables, Unpaid Principal Balance, Total | 555 | 975 |
Impaired financing receivables, Related Allowance, Total | 11 | 29 |
Farm Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 509 | 618 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 509 | 618 |
Impaired financing receivables, Recorded Investment, Total | 509 | 618 |
Impaired financing receivables, Unpaid Principal Balance, Total | $ 509 | $ 618 |
Allowance for Loan Losses - I_2
Allowance for Loan Losses - Impaired Loans - Average Recorded Investment and Interest Income Recognized (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | $ 1,632 | $ 2,859 | $ 3,085 |
Interest Income Recognized | 74 | 116 | 172 |
Commercial and Agriculture [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 15 | 88 | 367 |
Interest Income Recognized | 4 | 33 | |
Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 396 | 520 | 456 |
Interest Income Recognized | 18 | 27 | 32 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 23 | 243 | 308 |
Interest Income Recognized | 1 | 16 | 20 |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 629 | 1,361 | 1,271 |
Interest Income Recognized | 31 | 43 | 58 |
Farm Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 569 | 647 | 683 |
Interest Income Recognized | $ 24 | $ 26 | $ 29 |
Allowance for Loan Losses - S_3
Allowance for Loan Losses - Schedule of Changes in Amortized Yield for PCI Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Balance at beginning of period | $ 225 | $ 255 |
Acquisition of PCI loans | 0 | 0 |
Accretion | (77) | (336) |
Transfers from non-accretable to accretable | 69 | 306 |
Balance at end of period | $ 217 | $ 225 |
Allowance for Loan Losses - S_4
Allowance for Loan Losses - Schedule of Loans Acquired and Accounted (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Receivables [Abstract] | ||
Outstanding balance | $ 512 | $ 687 |
Carrying amount | $ 290 | $ 388 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) - Components of Other Comprehensive Income Loss (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Other Comprehensive Income (Loss), Before Tax | $ (7,339) | $ 9,804 | $ 10,539 |
Other Comprehensive Income (Loss), Tax Effect | (1,540) | 2,059 | 2,213 |
Other Comprehensive Income (Loss), Net of Tax | (5,799) | 7,745 | 8,326 |
Net unrealized Gains (Losses) on Investment Securities [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Other comprehensive income (loss) before reclassifications, Before Tax | (8,570) | 10,935 | 13,368 |
Amounts reclassified from accumulated other comprehensive income (loss), Before Tax | (1) | (94) | (32) |
Other Comprehensive Income (Loss), Before Tax | (8,571) | 10,841 | 13,336 |
Other comprehensive income (loss) before reclassifications, Tax Effect | (1,799) | 2,297 | 2,807 |
Amounts reclassified from accumulated other comprehensive income (loss), Tax Effect | 0 | (20) | (7) |
Other Comprehensive Income (Loss), Tax Effect | (1,799) | 2,277 | 2,800 |
Other comprehensive income (loss) before reclassifications, Net of Tax | (6,771) | 8,638 | 10,561 |
Amounts reclassified from accumulated other comprehensive income (loss), Net of Tax | (1) | (74) | (25) |
Other Comprehensive Income (Loss), Net of Tax | (6,772) | 8,564 | 10,536 |
Defined Benefit Plans [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Other comprehensive income (loss) before reclassifications, Before Tax | 992 | (1,326) | (2,953) |
Amounts reclassified from accumulated other comprehensive income (loss), Before Tax | 240 | 289 | 156 |
Other Comprehensive Income (Loss), Before Tax | 1,232 | (1,037) | (2,797) |
Other comprehensive income (loss) before reclassifications, Tax Effect | 209 | (279) | (620) |
Amounts reclassified from accumulated other comprehensive income (loss), Tax Effect | 50 | 61 | 33 |
Other Comprehensive Income (Loss), Tax Effect | 259 | (218) | (587) |
Other comprehensive income (loss) before reclassifications, Net of Tax | 783 | (1,047) | (2,333) |
Amounts reclassified from accumulated other comprehensive income (loss), Net of Tax | 190 | 228 | 123 |
Other Comprehensive Income (Loss), Net of Tax | $ 973 | $ (819) | $ (2,210) |
Other Comprehensive Income (L_4
Other Comprehensive Income (Loss) - Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning balance | $ 350,108 | $ 330,126 | $ 298,898 |
Net current-period other comprehensive income (loss) | (5,799) | 7,745 | 8,326 |
Ending balance | 355,212 | 350,108 | 330,126 |
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning balance | 21,447 | 12,883 | 2,347 |
Other comprehensive income (loss) before reclassifications | (6,771) | 8,638 | 10,561 |
Amounts reclassified from accumulated other comprehensive income (loss) | (1) | (74) | (25) |
Net current-period other comprehensive income (loss) | (6,772) | 8,564 | 10,536 |
Ending balance | 14,675 | 21,447 | 12,883 |
Defined Benefit Pension Items [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning balance | (6,828) | (6,009) | (3,799) |
Other comprehensive income (loss) before reclassifications | 783 | (1,047) | (2,333) |
Amounts reclassified from accumulated other comprehensive income (loss) | 190 | 228 | 123 |
Net current-period other comprehensive income (loss) | 973 | (819) | (2,210) |
Ending balance | (5,855) | (6,828) | (6,009) |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning balance | 14,619 | 6,874 | (1,452) |
Other comprehensive income (loss) before reclassifications | (5,988) | 7,591 | 8,228 |
Amounts reclassified from accumulated other comprehensive income (loss) | 189 | 154 | 98 |
Net current-period other comprehensive income (loss) | (5,799) | 7,745 | 8,326 |
Ending balance | $ 8,820 | $ 14,619 | $ 6,874 |
Other Comprehensive Income (L_5
Other Comprehensive Income (Loss) - Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Net gain on sale of securities | $ 1,786 | $ 94 | $ 32 |
Other operating expenses | (13,001) | (9,096) | (9,288) |
Income taxes | (7,017) | (4,940) | (5,683) |
Net income | 40,546 | 32,192 | 33,878 |
Reclassification out of Accumulated Other Comprehensive Loss [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Net income | (189) | (154) | (98) |
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | Reclassification out of Accumulated Other Comprehensive Loss [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Net gain on sale of securities | 1 | 94 | 32 |
Income taxes | (20) | (7) | |
Net income | 1 | 74 | 25 |
Accumulated Defined Benefit Plans Adjustment, Actuarial Losses [Member] | Reclassification out of Accumulated Other Comprehensive Loss [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Other operating expenses | (240) | (289) | (156) |
Income taxes | 50 | 61 | 33 |
Net income | $ (190) | $ (228) | $ (123) |
Premises and Equipment - Year-E
Premises and Equipment - Year-End Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 60,061 | $ 58,563 |
Accumulated depreciation | (37,616) | (35,983) |
Premises and equipment, net | 22,445 | 22,580 |
Land and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 6,970 | 6,879 |
Buildings and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 29,305 | 28,835 |
Furniture and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 23,786 | $ 22,849 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $ 1,976 | $ 2,253 | $ 2,240 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Goodwill | $ 76,851 | $ 76,851 | |
Amortization of core deposit intangible assets | 890 | 913 | $ 945 |
Aggregate mortgage servicing rights (MSRs) amortization | 572 | 524 | 247 |
Fair value of servicing rights | $ 2,642 | $ 2,246 | |
Fair value of servicing rights, discount rate | 12.00% | 12.00% | |
Mortgage loans | $ 405,786 | $ 353,473 | 206,950 |
Servicing fees | $ 947 | $ 634 | $ 502 |
Minimum [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair value of servicing rights prepayment speed | 8.00% | 12.00% | |
Maximum [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair value of servicing rights prepayment speed | 35.00% | 50.00% | |
Weighted Average [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair value of servicing rights, discount rate | 0.41% | 0.93% |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $ 7,581 | |
Core deposit intangibles [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 8,527 | $ 14,792 |
Accumulated Amortization | 3,588 | 8,963 |
Net Carrying Amount | $ 4,939 | $ 5,829 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Schedule of Mortgage Servicing Rights (MSRs) and Related Valuation Allowance (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Mortgage Servicing Rights: | ||
Beginning of year | $ 2,246 | $ 1,562 |
Additions | 764 | 1,310 |
Amortized to expense | 572 | 524 |
Change in valuation allowance | (204) | 102 |
End of year | 2,642 | 2,246 |
Valuation allowance: | ||
Beginning of year | 204 | 102 |
Additions expensed | 261 | 162 |
Reductions credited to operations | $ (465) | (60) |
End of year | $ 204 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2022 | $ 1,005 | |
2023 | 978 | |
2024 | 941 | |
2025 | 845 | |
2026 | 805 | |
Thereafter | 3,007 | |
Net Carrying Amount | 7,581 | |
MSRs [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2022 | 137 | |
2023 | 137 | |
2024 | 137 | |
2025 | 137 | |
2026 | 135 | |
Thereafter | 1,959 | |
Net Carrying Amount | 2,642 | |
Core deposit intangibles [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2022 | 868 | |
2023 | 841 | |
2024 | 804 | |
2025 | 708 | |
2026 | 670 | |
Thereafter | 1,048 | |
Net Carrying Amount | $ 4,939 | $ 5,829 |
Interest-Bearing Deposits - Sum
Interest-Bearing Deposits - Summary of Interest-Bearing Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
Demand | $ 537,510 | $ 410,139 |
Savings and Money markets | 843,837 | 771,612 |
$250 and over | 55,011 | 70,989 |
Certificates of Deposit: Other | 149,521 | 169,453 |
Individual Retirement Accounts | 41,916 | 46,396 |
Total | $ 1,627,795 | $ 1,468,589 |
Interest-Bearing Deposits - Sch
Interest-Bearing Deposits - Scheduled Maturities of Certificates of Deposit (Detail) $ in Thousands | Dec. 31, 2021USD ($) |
Deposits [Abstract] | |
2022 | $ 173,834 |
2023 | 45,195 |
2024 | 18,810 |
2025 | 3,829 |
2026 | 3,596 |
Thereafter | 1,184 |
Total | $ 246,448 |
Interest-Bearing Deposits - Add
Interest-Bearing Deposits - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deposits [Line Items] | ||
Total deposits | $ 2,416,701 | $ 2,189,398 |
Total of CDs and IRAs | 58,367 | |
Cash, FDIC insured amount | 250,000 | |
Brokered deposit | 26,610 | |
Principal officers, directors, and their affiliates [Member] | ||
Deposits [Line Items] | ||
Total deposits | $ 7,690 | $ 12,487 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Federal Funds Purchased and Other Short-term Borrowings (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Federal Funds Purchased [Member] | |||
Short-term Debt [Line Items] | |||
Maximum indebtedness during the year | $ 50,000,000 | $ 50,000,000 | $ 20,000,000 |
Average balance during the year | $ 137,000 | $ 228,000 | $ 137,000 |
Average rate paid during the year | 0.73% | 0.35% | 2.19% |
Short Term Borrowings, FHLB advances [Member] | |||
Short-term Debt [Line Items] | |||
Outstanding balance at year end | $ 101,500,000 | ||
Maximum indebtedness during the year | $ 102,700,000 | 192,700,000 | |
Average balance during the year | $ 8,151,000 | $ 112,088,000 | |
Average rate paid during the year | 1.64% | 2.32% | |
Interest rate on year end balance | 1.63% |
Federal Home Loan Bank Advanc_3
Federal Home Loan Bank Advances - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Long-term Federal Home Loan Bank advances | $ 75,000 | $ 125,000 | |
Maturities from May 2029 through October 2029, fixed rates | 1.03% | ||
Maturities, to | 2029-10 | ||
Outstanding letters of credit with FHLB | $ 21,300 | 20,000 | |
FHLB borrowings collateralized by residential mortgage loans | 737,389 | $ 217,500 | |
FHLB maximum borrowing capacity | 677,834 | ||
FHLB remaining borrowing capacity | 581,534 | ||
Prepaid advances | $ 50,000 | ||
FHLB Interest rate | 2.05% | ||
FHLB advances maturity period | 8 years | ||
Pre loss tax | $ 3,717 | ||
Prepaid penalty | $ 3,717 | ||
Putable Option [Member] | Advances One [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
FHLB advances | $ 75,000 | ||
FHLB puttable date | October 2020 and every quarter thereafter. | ||
Weighted Average [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Maturities from May 2029 through October 2029, fixed rates | 1.03% |
Federal Home Loan Bank Advanc_4
Federal Home Loan Bank Advances - Scheduled Principal Reductions of Federal Home Loan Bank Advances Outstanding (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Advances from Federal Home Loan Banks [Abstract] | ||
2029 | $ 75,000 | |
Total | $ 75,000 | $ 125,000 |
Securities Sold Under Agreeme_3
Securities Sold Under Agreements To Repurchase - Summary of Securities Pledged as Collateral Under Repurchase Agreements (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Offsetting Liabilities [Line Items] | |||
Gross amount of recognized liabilities for repurchase agreements | $ 25,495 | $ 28,914 | |
Amounts related to agreements not included in offsetting disclosures above | 0 | 0 | |
Total securities pledged | 25,495 | 28,914 | $ 18,674 |
U.S.Treasury Securities [Member] | |||
Offsetting Liabilities [Line Items] | |||
Total securities pledged | 16,478 | 899 | |
Obligations of U.S. Government Agencies [Member] | |||
Offsetting Liabilities [Line Items] | |||
Total securities pledged | $ 9,017 | $ 28,015 |
Securities Sold Under Agreeme_4
Securities Sold Under Agreements to Repurchase - Schedule of Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Disclosure [Abstract] | |||
Outstanding balance at year end | $ 25,495 | $ 28,914 | $ 18,674 |
Average balance during the year | $ 24,390 | $ 24,390 | $ 18,321 |
Average interest rate during the year | 0.09% | 0.10% | 0.10% |
Maximum month-end balance during the year | $ 34,200 | $ 31,885 | $ 21,970 |
Weighted average interest rate at year end | 0.05% | 0.10% | 0.10% |
Subordinated Debentures - Addit
Subordinated Debentures - Additional Information (Detail) $ in Thousands | Nov. 30, 2021USD ($) | Mar. 31, 2007USD ($) | Mar. 31, 2003USD ($) | Mar. 31, 2002USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2007Trust_Preferred_Securities | Sep. 30, 2007USD ($) |
Subordinated Borrowing [Line Items] | |||||||
Redeem and refinance of floating rate subordinated debenture | $ 5,000 | ||||||
Refinancing at face value, reduction rate | 2.00% | ||||||
Subordinated debenture, maturity period | 30 years | ||||||
Fixed Interest Rate | 3.25% | ||||||
London Interbank Offered Rate (LIBOR) [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Debt Instrument, Interest Rate, Basis for Effective Rate | 3 | ||||||
Futura Ban Corp [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Number of additional trust preferred securities acquired | Trust_Preferred_Securities | 2 | ||||||
Subordinated Debentures [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Subordinated debenture, maturity period | 5 years | ||||||
Debt, face amount | $ 102,813 | ||||||
Subordinated debenture, maturity date | Jun. 15, 2035 | ||||||
Senior Subordinated Notes [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Redemption Price Percentage | 100.00% | ||||||
Senior Subordinated Notes [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Description about Subordinated Notes Interest Rate | 219 basis points | ||||||
2.37% Debenture [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Debt, face amount | $ 12,500 | ||||||
Debt, variable interest rate | 2.37% | ||||||
Redemption of subordinated debentures description | The Company may redeem the subordinated debentures, in whole or in part, in a principal amount with integral multiples of $1,000, at 100% of the principal amount, plus accrued and unpaid interest. | ||||||
Subordinated Note Purchase Agreement [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Subordinated debenture, maturity date | Dec. 31, 2031 | ||||||
Aggregate Principal Amount | $ 75,000 | ||||||
Floating rate Interest | 3.25% | ||||||
6.05% Fixed Rate Trust Preferred Securities [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Debt, face amount | $ 12,500 | ||||||
Debt, interest rate | 6.05% | ||||||
Debt instrument fixed interest rate period | 5 years | ||||||
3.28% Debenture [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Debt, face amount | $ 7,500 | ||||||
Debt, variable interest rate | 3.28% | ||||||
1.72% Debenture [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Debt, face amount | $ 5,000 | ||||||
Debt, variable interest rate | 1.72% | ||||||
1.78% Debenture [Member] | Futura TPF Trust I [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Debt, face amount | $ 2,500 | ||||||
Debt instrument, variable interest rate percentage | 1.78% | ||||||
1.78% Debenture [Member] | Futura TPF Trust II [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Debt, face amount | $ 1,927 | ||||||
Debt instrument, variable interest rate percentage | 1.78% | ||||||
Subordinated Debenture [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Issuance of Trust Preferred Securities in exchange for Subordinated Debentures | $ 5,000 | ||||||
Trust Preferred Securities [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Issuance of Trust Preferred Securities in exchange for Subordinated Debentures | $ 7,500 | ||||||
Trust Preferred Securities [Member] | Futura TPF Trust I [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Acquired trust preferred securities | $ 2,500 | ||||||
Trust Preferred Securities [Member] | Futura TPF Trust II [Member] | |||||||
Subordinated Borrowing [Line Items] | |||||||
Acquired trust preferred securities | $ 1,927 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current | $ 5,111 | $ 6,947 | $ 4,713 |
State | 587 | 270 | 307 |
Deferred | 1,319 | (2,277) | 663 |
Income tax expense | $ 7,017 | $ 4,940 | $ 5,683 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Statutory federal income tax rate | 21.00% | 21.00% | 21.00% |
Valuation allowance | $ 0 | $ 0 | |
Liability for uncertain tax positions, current | 0 | ||
Unrecognized tax benefits | $ 0 |
Income Taxes - Effective Tax Ra
Income Taxes - Effective Tax Rates Differed from Statutory Federal Income Tax Rate (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Income taxes computed at the statutory federal tax rate | $ 9,988 | $ 7,798 | $ 8,308 |
Add (subtract) tax effect of: | |||
Nontaxable interest income, net of nondeductible interest expense | (1,315) | (1,293) | (1,194) |
Low income housing tax credit | (1,402) | (1,186) | (903) |
Cash surrender value of BOLI | (252) | (205) | (211) |
Change in tax position BOLI | (353) | ||
Other | (2) | (174) | 36 |
Income tax expense | $ 7,017 | $ 4,940 | $ 5,683 |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets | ||
Allowance for loan losses | $ 5,595 | $ 5,256 |
Deferred compensation | 1,213 | 1,201 |
Pension costs | 56 | 304 |
Intangible assets | 231 | 312 |
Net operating loss carryforward | 509 | |
Deferred loan fees | 614 | 1,260 |
Other | 713 | 745 |
Deferred tax asset | 8,422 | 9,587 |
Deferred tax liabilities | ||
Tax depreciation in excess of book depreciation | (973) | (851) |
Discount accretion on securities | (86) | (10) |
FHLB stock dividends | (969) | (969) |
Unrealized gain on securities available for sale | (3,806) | (5,606) |
Prepaids | (276) | (325) |
Other | (1,243) | (979) |
Deferred tax liability | (7,353) | (8,740) |
Net deferred tax asset | $ 1,069 | $ 847 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021USD ($)Employee | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Plan name | 401(k) plan | ||
Matching contribution to 401(k) plan | $ 1,258 | $ 1,226 | $ 1,074 |
Employer matching contribution description | The Company’s matching contribution is 100% of an employee’s first three percent contributed and 50% of the next two percent contributed. | ||
Pension plan eligibility age of employees | 20 years 7 months 6 days | ||
Pension plan eligibility service period of employees | 6 months | ||
Pension plan eligibility service hours of employees | 1000 hours | ||
Additional benefits under pension plan | $ 0 | ||
Interest expense | 6,317 | 10,138 | 12,954 |
Unrecognized actuarial loss in accumulated other comprehensive income (loss), net of tax | 5,855 | 6,828 | |
Unrecognized actuarial loss in accumulated other comprehensive income (loss), tax | 1,556 | 1,815 | |
Accumulated benefit obligation for defined benefit pension plan | 15,384 | $ 16,656 | |
Estimated net loss that will be amortized over the next fiscal year | $ 240 | ||
Incurred settlement cost | $ 0 | ||
Rate of compensation increase used to determine the benefit obligation | 0.00% | 0.00% | 0.00% |
Long-term rate of return on plan assets | 3.84% | 4.44% | 4.96% |
Expected future employer contributions | $ 0 | ||
Employer contribution | 0 | $ 0 | |
Funded status at end of year | 264 | 1,399 | |
Other Operating Income (Expense) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Incurred settlement cost | (18) | 0 | $ 0 |
Shortfall Agreements [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension shortfall expense | 130 | 130 | 161 |
Interest expense | $ 9 | 9 | 20 |
Number of individuals under plan | Employee | 10 | ||
Supplemental Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Maximum retirement year for participants | 10 years | ||
Liability recorded for supplemental retirement plan | $ 3,334 | 3,097 | |
Expenses recorded for supplemental retirement plan | 404 | 429 | 394 |
Total distribution to participant | $ 167 | $ 168 | $ 128 |
Retirement Plans - Information
Retirement Plans - Information about Pension Plan (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Change in benefit obligation: | |||
Beginning benefit obligation | $ 16,656 | $ 15,570 | |
Service cost | 0 | ||
Interest cost | 378 | 484 | $ 479 |
Actuarial (gain)/loss | (921) | 1,898 | |
Benefits paid | (711) | (1,296) | |
Settlement payments | (18) | ||
Ending benefit obligation | 15,384 | 16,656 | 15,570 |
Change in plan assets, at fair value: | |||
Beginning plan assets | 15,257 | 15,183 | |
Actual return | 574 | 1,370 | |
Employer contribution | 0 | 0 | |
Benefits paid | (711) | (1,296) | |
Ending plan assets | 15,120 | 15,257 | $ 15,183 |
Funded status at end of year | $ (264) | $ (1,399) |
Retirement Plans - Components o
Retirement Plans - Components of Net Periodic Pension Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Retirement Benefits [Abstract] | |||
Interest cost | $ 378 | $ 484 | $ 479 |
Expected return on plan assets | (574) | (748) | (811) |
Net amortization and deferral | 240 | 289 | 156 |
Net periodic pension cost (benefit) | 44 | 25 | (176) |
Additional loss due to settlement | 0 | ||
Total pension cost (benefit) | 44 | 25 | (176) |
Net loss (gain) recognized in other comprehensive income | (854) | 986 | 2,798 |
Total recognized in net periodic benefit cost and other comprehensive loss (before tax) | $ (810) | $ 1,011 | $ 2,622 |
Retirement Plans - Weighted Ave
Retirement Plans - Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Retirement Benefits [Abstract] | |||
Discount rate on benefit obligation | 2.74% | 2.39% | 3.13% |
Long-term rate of return on plan assets | 3.84% | 4.44% | 4.96% |
Rate of compensation increase | 0.00% | 0.00% | 0.00% |
Discount rate on benefit obligation | 2.39% | 3.13% | 4.14% |
Long-term rate of return on plan assets | 4.44% | 4.96% | 7.00% |
Rate of compensation increase | 0.00% | 0.00% | 0.00% |
Retirement Plans - Schedule of
Retirement Plans - Schedule of Pension Plan Asset Allocation and Target Allocation by Asset Category (Detail) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of Plan Assets at Year-end | 100.00% | 100.00% | |
Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of Plan Assets at Year-end | 20.00% | 20.00% | |
Equity Securities [Member] | Minimum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 0.00% | ||
Equity Securities [Member] | Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 30.00% | ||
Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of Plan Assets at Year-end | 80.00% | 80.00% | |
Debt Securities [Member] | Minimum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 70.00% | ||
Debt Securities [Member] | Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 100.00% |
Retirement Plans - Summary of I
Retirement Plans - Summary of Investments Measured at Fair Value Based on NAV Per Share (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value | $ 15,120 | $ 15,257 | $ 15,183 |
Common/Collective Trust Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Redemption Frequency (if currently eligible) | Daily | Daily | |
Redemption Notice Period | 1 day | 1 day | |
Common/Collective Trust Funds [Member] | Fair Value Measured at Net Asset Value Per Share | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value | $ 15,120 | $ 15,257 |
Retirement Plans - Summary of E
Retirement Plans - Summary of Expected Benefit Payments (Detail) $ in Thousands | Dec. 31, 2021USD ($) |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2022 | $ 246 |
2023 | 288 |
2024 | 327 |
2025 | 391 |
2026 | 491 |
2027 through 2031 | 3,100 |
Total | $ 4,843 |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted shares vesting service period | 3 years | ||||
Share based compensation - Civista BOD | $ 702 | $ 617 | $ 531 | ||
Expected future compensation expense | $ 831 | ||||
Weighted average remaining life of grants related to unvested awards not yet recognized | 2 years 3 months 18 days | ||||
Civista Director [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted common shares granted | 8,792 | 14,266 | 8,946 | ||
Share based compensation - Civista BOD | $ 196 | $ 196 | $ 196 | ||
2014 Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Maximum number of shares under stock option plan authorized for issuance | 375,000 | ||||
Number of shares available for grant under stock option plan | 154,123 | ||||
Options granted | 0 | 0 | 0 | ||
Share based compensation expense | $ 506 | $ 421 | $ 335 | ||
Expected future compensation expense | $ 831 | ||||
Weighted average remaining life of grants related to unvested awards not yet recognized | 2 years 3 months 18 days | ||||
2014 Incentive Plan [Member] | Civista Director [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Director retainer fees | $ 196 | $ 196 | $ 196 |
Equity Incentive Plan - Summary
Equity Incentive Plan - Summary of Company's Restricted Stock (Detail) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($)$ / sharesshares | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 69,840 |
Expected future remaining compensation expense | $ | $ 831 |
Expected future compensation expense, restricted shares remaining vesting period | 2 years 3 months 18 days |
Restricted Shares Awarded on March 20, 2017 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 1,198 |
Date of Award | Mar. 20, 2017 |
Expected future compensation expense, restricted shares remaining vesting period | 0 years |
Restricted Shares Awarded on April 10, 2018 [Member | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 3,114 |
Date of Award | Apr. 10, 2018 |
Expected future remaining compensation expense | $ | $ 31 |
Expected future compensation expense, restricted shares remaining vesting period | 1 year |
Restricted Shares Awarded on March 14, 2019 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 3,174 |
Date of Award | Mar. 14, 2019 |
Expected future compensation expense, restricted shares remaining vesting period | 0 years |
Restricted Shares Awarded on March 14, 2019 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 6,560 |
Date of Award | Mar. 14, 2019 |
Expected future remaining compensation expense | $ | $ 79 |
Expected future compensation expense, restricted shares remaining vesting period | 2 years |
Restricted Shares Awarded on March 14, 2020 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 8,595 |
Date of Award | Mar. 14, 2020 |
Expected future remaining compensation expense | $ | $ 85 |
Expected future compensation expense, restricted shares remaining vesting period | 1 year |
Restricted Shares Awarded on March 14, 2020 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 10,390 |
Date of Award | Mar. 14, 2020 |
Expected future remaining compensation expense | $ | $ 148 |
Expected future compensation expense, restricted shares remaining vesting period | 3 years |
Restricted Shares Awarded on March 3, 2021 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 16,277 |
Date of Award | Mar. 3, 2021 |
Expected future remaining compensation expense | $ | $ 226 |
Expected future compensation expense, restricted shares remaining vesting period | 4 years |
Restricted Shares Awarded on March 3, 2021 [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Granted | 20,532 |
Date of Award | Mar. 3, 2021 |
Expected future remaining compensation expense | $ | $ 262 |
Expected future compensation expense, restricted shares remaining vesting period | 2 years |
Restricted Stock [Member] | |
Schedule Of Nonvested Stock Option Activity [Line Items] | |
Number of Restricted Shares, Nonvested at beginning of period | 54,274 |
Number of Restricted Shares, Granted | 39,139 |
Number of Restricted Shares, Vested | (20,275) |
Number of Restricted Shares, Forfeited | (3,298) |
Number of Restricted Shares, Nonvested at end of period | 69,840 |
Weighted Average Grant Date Fair Value, Nonvested at beginning of period | $ / shares | $ 20.90 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 19.17 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 20.35 |
Weighted Average Grant Date Fair Value, Forfeited | $ / shares | 19.74 |
Weighted Average Grant Date Fair Value, Nonvested at end of period | $ / shares | $ 20.14 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available for sale | $ 559,874 | $ 363,464 |
Equity securities | 1,072 | 886 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available for sale | 559,874 | 363,464 |
Equity securities | 1,072 | 886 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Swap asset | 11,072 | 21,700 |
Swap liability | 11,072 | 21,764 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available for sale | 47,890 | 21,693 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available for sale | 298,836 | 229,012 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available for sale | 213,148 | 112,759 |
(Level 3) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 11 | 1 |
(Level 3) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 31 | |
(Level 3) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 2,642 | $ 2,246 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information about Level 3 Fair Value Measurements (Detail) - Assets Measured at Fair Value on a Nonrecurring Basis [Member] - (Level 3) [Member] $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 11 | $ 1 |
Impaired Loans [Member] | Measurement Input, Appraised Value [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 10 | |
Impaired Loans [Member] | Measurement Input, Appraised Value [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 0 | |
Impaired Loans [Member] | Measurement Input, Appraised Value [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 30 | |
Impaired Loans [Member] | Measurement Input, Appraised Value [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 10 | 19 |
Impaired Loans [Member] | Measurement Input Holding Period [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Term | 24 months | 23 months |
Impaired Loans [Member] | Measurement Input Holding Period [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans, Term | 24 months | 23 months |
Other Real Estate Owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 31 | |
Other Real Estate Owned [Member] | Measurement Input, Appraised Value [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 10 | |
Other Real Estate Owned [Member] | Measurement Input, Appraised Value [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 10 |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Amount and Fair Value of Financial Instruments Carried at Amortized Cost (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Financial Assets: | |||
Cash and due from financial institutions | $ 253,459 | $ 125,749 | |
Other securities | 17,011 | 20,537 | |
Loans, net of allowance for loan losses | 1,971,238 | 2,032,474 | |
Bank owned life insurance | 46,641 | 45,976 | |
Accrued interest receivable | 7,385 | 9,421 | |
Financial Liabilities: | |||
Time deposits | 246,448 | ||
Long-term FHLB advances | 75,000 | 125,000 | |
Securities sold under agreement to repurchase | 25,495 | 28,914 | $ 18,674 |
Carrying Amount [Member] | |||
Financial Assets: | |||
Cash and due from financial institutions | 265,969 | 139,522 | |
Other securities | 17,011 | 20,537 | |
Loans, held for sale | 1,972 | 7,001 | |
Loans, net of allowance for loan losses | 1,971,238 | 2,032,474 | |
Bank owned life insurance | 47,176 | 46,976 | |
Accrued interest receivable | 7,385 | 9,421 | |
Financial Liabilities: | |||
Nonmaturing deposits | 2,170,253 | 1,902,560 | |
Time deposits | 246,448 | 286,838 | |
Long-term FHLB advances | 75,000 | 125,000 | |
Securities sold under agreement to repurchase | 25,495 | 28,914 | |
Subordinated debentures | 102,813 | 29,427 | |
Accrued interest payable | 315 | 204 | |
Total Fair Value [Member] | |||
Financial Assets: | |||
Cash and due from financial institutions | 265,969 | 139,522 | |
Other securities | 17,011 | 20,537 | |
Loans, held for sale | 2,011 | 7,141 | |
Loans, net of allowance for loan losses | 1,945,638 | 2,063,249 | |
Bank owned life insurance | 47,176 | 45,976 | |
Accrued interest receivable | 7,385 | 9,421 | |
Financial Liabilities: | |||
Nonmaturing deposits | 2,170,253 | 1,902,560 | |
Time deposits | 247,053 | 288,298 | |
Long-term FHLB advances | 75,930 | 130,942 | |
Securities sold under agreement to repurchase | 25,495 | 28,914 | |
Subordinated debentures | 111,118 | 31,479 | |
Accrued interest payable | 315 | 204 | |
(Level 1) [Member] | |||
Financial Assets: | |||
Cash and due from financial institutions | 265,969 | 139,522 | |
Other securities | 17,011 | 20,537 | |
Loans, held for sale | 2,011 | 7,141 | |
Bank owned life insurance | 47,176 | 45,976 | |
Accrued interest receivable | 7,385 | 9,421 | |
Financial Liabilities: | |||
Nonmaturing deposits | 2,170,253 | 1,902,560 | |
Securities sold under agreement to repurchase | 25,495 | 28,914 | |
Accrued interest payable | 315 | 204 | |
(Level 3) [Member] | |||
Financial Assets: | |||
Loans, net of allowance for loan losses | 1,945,638 | 2,063,249 | |
Financial Liabilities: | |||
Time deposits | 247,053 | 288,298 | |
Long-term FHLB advances | 75,930 | 130,942 | |
Subordinated debentures | $ 111,118 | $ 31,479 |
Commitments, Contingencies an_3
Commitments, Contingencies and Off-Balance-Sheet Risk - Contractual Amounts of Financial Instruments with Off-Balance-Sheet Risk (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | $ 34,164 | $ 39,095 |
Variable Rate | 510,542 | 470,557 |
Lines of Credit and Construction Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 33,542 | 38,474 |
Variable Rate | 455,777 | 427,864 |
Overdraft Protection [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 7 | 6 |
Variable Rate | 54,034 | 41,707 |
Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 615 | 615 |
Variable Rate | $ 731 | $ 986 |
Commitments, Contingencies an_4
Commitments, Contingencies and Off-Balance-Sheet Risk - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Maximum period of commitments to make loans | 1 year | |
Maximum time period of maturities | 30 years | |
Reserve balance under Federal Reserve Board requirements | $ 0 | $ 0 |
Minimum [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Range of fixed interest rate loan commitments | 3.25% | 3.50% |
Maximum [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Range of fixed interest rate loan commitments | 8.00% | 8.00% |
Capital Requirements and Rest_3
Capital Requirements and Restriction on Retained Earnings - Actual Capital Levels and Minimum Required Capital Levels (Detail) $ in Thousands | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Consolidated [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total Risk Based Capital, Actual, Amount | $ 394,164 | $ 307,504 |
Tier I Risk Based Capital, Actual, Amount | 295,064 | 283,459 |
CET1 Risk Based Capital, Actual, Amount | 265,637 | 254,032 |
Leverage, Actual, Amount | $ 295,064 | $ 283,459 |
Total Risk Based Capital, Actual, Ratio | 19.2 | 16 |
Tier I Risk Based Capital, Actual, Ratio | 14.3 | 14.7 |
CET1 Risk Based Capital, Actual, Ratio | 12.9 | 13.2 |
Leverage, Actual, Ratio | 10.2 | 10.8 |
Total Risk Based Capital , For Capital Adequacy Purposes, Amount | $ 164,498 | $ 153,810 |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Amount | 123,373 | 115,358 |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Amount | 92,530 | 86,518 |
Leverage, For Capital Adequacy Purposes, Amount | $ 115,543 | $ 105,279 |
Total Risk Based Capital , For Capital Adequacy Purposes, Ratio | 8 | 8 |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Ratio | 6 | 6 |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Leverage, For Capital Adequacy Purposes, Ratio | 4 | 4 |
Civista [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total Risk Based Capital, Actual, Amount | $ 338,383 | $ 277,429 |
Tier I Risk Based Capital, Actual, Amount | 312,671 | 252,304 |
CET1 Risk Based Capital, Actual, Amount | 312,671 | 241,891 |
Leverage, Actual, Amount | $ 312,671 | $ 252,304 |
Total Risk Based Capital, Actual, Ratio | 16.5 | 14.4 |
Tier I Risk Based Capital, Actual, Ratio | 15.2 | 13.1 |
CET1 Risk Based Capital, Actual, Ratio | 15.2 | 12.6 |
Leverage, Actual, Ratio | 10.8 | 9.6 |
Total Risk Based Capital , For Capital Adequacy Purposes, Amount | $ 164,483 | $ 153,765 |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Amount | 123,362 | 115,323 |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Amount | 92,522 | 86,493 |
Leverage, For Capital Adequacy Purposes, Amount | $ 115,408 | $ 105,029 |
Total Risk Based Capital , For Capital Adequacy Purposes, Ratio | 8 | 8 |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Ratio | 6 | 6 |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Leverage, For Capital Adequacy Purposes, Ratio | 4 | 4 |
Total Risk Based Capital , To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | $ 205,604 | $ 192,206 |
Tier I Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | 164,483 | 153,765 |
CET1 Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | 133,642 | 124,934 |
Leverage, To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | $ 144,260 | $ 131,286 |
Total Risk Based Capital , To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 10 | 10 |
Tier I Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 8 | 8 |
CET1 Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 6.50% | 6.50% |
Leverage, To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 5 | 5 |
Capital Requirements and Rest_4
Capital Requirements and Restriction on Retained Earnings - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Capital Requirements And Restriction On Retained Earnings [Abstract] | |
Net profits available to pay dividends to CBI | $ 59,772 |
Parent Company Only Condensed_3
Parent Company Only Condensed Financial Information - Schedule of Condensed Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||||
Equity securities | $ 1,072 | $ 886 | ||
Other assets | 22,872 | 20,375 | ||
Total assets | 3,011,983 | 2,768,862 | ||
LIABILITIES | ||||
Subordinated debentures | 102,813 | 29,427 | ||
Total liabilities | 2,656,771 | 2,418,754 | ||
SHAREHOLDERS' EQUITY | ||||
Common stock | 277,741 | 277,039 | ||
Accumulated earnings | 125,558 | 93,048 | ||
Treasury Stock | (56,907) | (34,598) | ||
Accumulated other comprehensive income | 8,820 | 14,619 | ||
Total shareholders' equity | 355,212 | 350,108 | $ 330,126 | $ 298,898 |
Total liabilities and shareholders' equity | 3,011,983 | 2,768,862 | ||
CBI[Member] | ||||
ASSETS | ||||
Cash | 45,800 | 19,446 | $ 24,089 | $ 19,678 |
Equity securities | 1,072 | 886 | ||
Investment in bank subsidiary | 408,255 | 344,948 | ||
Investment in nonbank subsidiaries | 3,474 | 16,017 | ||
Other assets | 2,016 | 1,575 | ||
Total assets | 460,617 | 382,872 | ||
LIABILITIES | ||||
Deferred income taxes and other liabilities | 2,592 | 3,337 | ||
Subordinated debentures | 102,813 | 29,427 | ||
Total liabilities | 105,405 | 32,764 | ||
SHAREHOLDERS' EQUITY | ||||
Common stock | 277,741 | 277,039 | ||
Accumulated earnings | 125,558 | 93,048 | ||
Treasury Stock | (56,907) | (34,598) | ||
Accumulated other comprehensive income | 8,820 | 14,619 | ||
Total shareholders' equity | 355,212 | 350,108 | ||
Total liabilities and shareholders' equity | $ 460,617 | $ 382,872 |
Parent Company Only Condensed_4
Parent Company Only Condensed Financial Information - Schedule of Condensed Statements of Operations (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Condensed Financial Statements Captions [Line Items] | |||
Interest expense | $ (6,317) | $ (10,138) | $ (12,954) |
Income tax benefit | (7,017) | (4,940) | (5,683) |
Net income | 40,546 | 32,192 | 33,878 |
Comprehensive income | 34,747 | 39,937 | 42,204 |
CBI[Member] | |||
Condensed Financial Statements Captions [Line Items] | |||
Dividends from bank subsidiaries | 19,900 | 15,300 | 13,300 |
Dividends from non-bank subsidiaries | 1,000 | 440 | |
Interest expense | (956) | (945) | (1,423) |
Pension expense | (47) | (25) | 176 |
Other expense, net | (1,004) | (1,241) | (1,107) |
Income (loss) before equity in undistributed net earnings of subsidiaries | 18,893 | 13,529 | 10,946 |
Income tax benefit | 425 | 475 | 494 |
Equity in undistributed net earnings of subsidiaries | 21,228 | 18,188 | 22,438 |
Net income | 40,546 | 32,192 | 33,878 |
Comprehensive income | $ 34,747 | $ 39,937 | $ 42,204 |
Parent Company Only Condensed_5
Parent Company Only Condensed Financial Information - Schedule of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating activities: | |||
Net income | $ (40,546) | $ (32,192) | $ (33,878) |
Adjustment to reconcile net income to net cash from operating activities: | |||
Net cash from operating activities | 40,761 | 32,654 | 38,801 |
Cash flows used for investing activities: | |||
Net cash used for investing activities | (130,496) | (340,982) | (150,764) |
Cash flows from financing activities: | |||
Payment to repurchase series B preferred stock | (402) | ||
Net cash from financing activities | 216,925 | 398,802 | 116,739 |
CBI[Member] | |||
Operating activities: | |||
Net income | 40,546 | 32,192 | 33,878 |
Adjustment to reconcile net income to net cash from operating activities: | |||
Change in other assets and other liabilities | 2,495 | 1,925 | 4,437 |
Equity in undistributed net earnings of subsidiaries | (21,228) | (18,188) | (22,438) |
Net cash from operating activities | 21,813 | 15,929 | 15,877 |
Cash flows used for investing activities: | |||
Disposal of minority interest | 11,500 | ||
Disposal of investment in subsidiary | 0 | 41 | |
Acquisition, net of cash acquired | (50,000) | ||
Net cash used for investing activities | (38,500) | 41 | |
Cash flows from financing activities: | |||
Cash paid on fractional shares on preferred stock conversion to common stock | (2) | ||
Proceeds from subordinated debenture, net of issuance costs | 73,386 | ||
Purchase of treasury stock | (22,309) | (13,454) | (3,909) |
Payment to repurchase series B preferred stock | (402) | ||
Cash dividends paid | (8,036) | (7,118) | (7,194) |
Net cash from financing activities | 43,041 | (20,572) | (11,507) |
Net change in cash and cash equivalents | 26,354 | (4,643) | 4,411 |
Cash and cash equivalents at beginning of year | 19,446 | 24,089 | 19,678 |
Cash and cash equivalents at end of year | $ 45,800 | $ 19,446 | $ 24,089 |
Preferred Shares - Additional i
Preferred Shares - Additional information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Feb. 15, 2014 | Dec. 19, 2013 |
Depositary Shares [Member] | ||
Preferred Stock [Line Items] | ||
Newly issued shares | 1,000,000 | |
Percentage of ownership Interest | 6.50% | |
Share issued price per share | $ 25 | |
Gross proceeds from public offering | $ 25,000 | |
Series B Preferred Stock [Member] | ||
Preferred Stock [Line Items] | ||
Preferred shares, liquidation preference | $ 1,000 | |
Dividend on preferred stock | 6.50% | |
Series A Preferred Stock [Member] | ||
Preferred Stock [Line Items] | ||
Aggregate purchase price of Preferred stock | $ 22,857 | |
Preferred stock redemption date | Feb. 15, 2014 |
Earnings per Common Share - Com
Earnings per Common Share - Computation of Basic and Diluted Earnings per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Basic | |||
Net income | $ 40,546 | $ 32,192 | $ 33,878 |
Preferred stock dividends | 0 | 0 | 647 |
Less allocation of earnings and dividends to participating securities | 173 | 98 | 87 |
Net income available to common shareholders—basic | $ 40,373 | $ 32,094 | $ 33,144 |
Weighted average common shares outstanding | 15,408,863 | 16,129,875 | 15,652,881 |
Less average participating securities | 65,648 | 49,012 | 40,013 |
Weighted average common shares outstanding for earnings per common share basic | 15,343,215 | 16,080,863 | 15,612,868 |
Basic earnings per share | $ 2.63 | $ 2 | $ 2.12 |
Diluted | |||
Net income available to common shareholders—diluted | $ 40,373 | $ 32,094 | $ 33,791 |
Add: dilutive effects of convertible preferred shares | 1,198,859 | ||
Average shares and dilutive potential common shares outstanding—diluted | 15,343,215 | 16,080,863 | 16,851,740 |
Diluted earnings per share | $ 2.63 | $ 2 | $ 2.01 |
Derivatives - Summary of Intere
Derivatives - Summary of Interest Rate Swap Transactions (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Derivatives Fair Value [Line Items] | ||
Derivative Asset | $ 11,072 | $ 21,700 |
Accrued Liabilities and Other Liabilities | 11,072 | 21,764 |
Long [Member] | Financial Institutions [Member] | ||
Derivatives Fair Value [Line Items] | ||
Counterparty Positions With Financial Institutions In A Liability Position Notional Amount | 173,490 | 244,748 |
Fair Value Of Counterparty Positions With Financial Institutions In A Liability Position | 11,072 | 21,764 |
Short [Member] | Financial Institutions [Member] | ||
Derivatives Fair Value [Line Items] | ||
Counterparty Positions With Financial Institutions In An Asset Position Notional Amount | 71,328 | |
Fair Value Of Counterparty Positions With Financial Institutions In An Asset Position | (1,628) | |
Interest Rate Swap [Member] | Long [Member] | ||
Derivatives Fair Value [Line Items] | ||
Interest Rate Swaps With Loan Customers In An Asset Position Notional Amount | 173,490 | 244,748 |
Fair Value Of Interest Rate Swaps With Loan Customers In An Asset Position | 11,072 | $ 21,700 |
Interest Rate Swap [Member] | Short [Member] | ||
Derivatives Fair Value [Line Items] | ||
Interest Rate Swaps With Loan Customers In A Liability Position Notional Amount | 71,328 | |
Fair Value Of Interest Rate Swaps With Loan Customers In A Liability Position | $ 1,628 |
Derivatives - Summary Of Gross
Derivatives - Summary Of Gross Notional Amount Derivatives (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Customers [Member] | ||
Derivative, Notional Amount | $ 244,818 | $ 244,748 |
Financial Institutions [Member] | ||
Derivative, Notional Amount | $ 244,818 | $ 244,748 |
Derivatives - Summary of Gain o
Derivatives - Summary of Gain or loss On Derivatives (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative, Gain (Loss) on Derivative, Net | $ 64 | $ (64) | $ 0 |
Other Income [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | |||
Derivative, Gain (Loss) on Derivative, Net | $ 64 | $ (64) | $ 0 |
Derivatives - Additional Inform
Derivatives - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Derivatives Fair Value [Line Items] | |||
Swap fees | $ 207 | $ 1,459 | $ 516 |
Collateral Pledged [Member] | Interest Rate Swap [Member] | |||
Derivatives Fair Value [Line Items] | |||
Cash and securities at fair value pledged for collateral | 509 | 11,705 | |
Cash and Cash Equivalents [Member] | Interest Rate Swap [Member] | |||
Derivatives Fair Value [Line Items] | |||
Cash and securities at fair value pledged for collateral | $ 10,780 | $ 11,300 |
Qualified Affordable Housing _2
Qualified Affordable Housing Project Investments - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments in Affordable Housing Projects [Abstract] | |||
Investments in qualified affordable housing projects included in other assets | $ 13,093 | $ 11,911 | |
Unfunded commitments related to the investments in qualified affordable housing projects | 5,706 | 5,944 | |
Recognized amortization expense | 818 | 661 | $ 570 |
Recognized tax credits and other benefits from its investments in affordable housing tax credits | 1,402 | 1,186 | 995 |
Impairment losses related to its investment in qualified affordable housing projects | $ 0 | $ 0 | $ 0 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Noninterest Income Segregated By Revenue Streams In-scope and Out-of-scope of Topic 606 (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Noninterest income | |||
Service charges | $ 5,905 | $ 5,288 | $ 6,395 |
ATM/Interchange fees | 5,443 | 4,472 | 4,056 |
Wealth management fees | 4,857 | 3,981 | 3,670 |
Tax refund processing fees | 2,375 | 2,375 | 2,750 |
Other | 1,055 | 831 | 911 |
Noninterest Income (in-scope of Topic 606) | 19,635 | 16,947 | 17,782 |
Noninterest Income (out-of-scope of Topic 606) | 11,817 | 11,235 | 4,661 |
Total Noninterest Income | $ 31,452 | $ 28,182 | $ 22,443 |
Leases - Summary of Balance She
Leases - Summary of Balance Sheet Information Related to Operating Leases (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Assets: | ||
Operating lease | $ 2,314 | $ 2,678 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Other assets | Other assets |
Liabilities: | ||
Operating lease | $ 2,314 | $ 2,678 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Operating lease | Operating lease |
Leases - Summary of Cost Compon
Leases - Summary of Cost Components of Operating Leases (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Lease cost | ||
Operating lease cost | $ 427 | $ 499 |
Short-term lease cost | 161 | 304 |
Sublease income | (29) | (26) |
Total lease cost | $ 559 | $ 777 |
Leases - Summary of Maturities
Leases - Summary of Maturities of Operating and Finance Lease Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Leases [Abstract] | ||
2022 | $ 420 | |
2023 | 414 | |
2024 | 406 | |
2025 | 308 | |
2026 | 258 | |
Thereafter | 728 | |
Total lease payments | 2,534 | |
Less: Imputed Interest | 220 | |
Present value of lease liabilities | $ 2,314 | $ 2,678 |
Leases - Summary of Weighted Av
Leases - Summary of Weighted Average Remaining Lease Terms And Discount Rates For Operating Leases (Detail) | Dec. 31, 2021 |
Leases [Abstract] | |
Weighted-average remaining lease term - operating leases (years) | 5 years 7 months 6 days |
Weighted-average discount rate - operating leases | 2.82% |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2021USD ($) | Jan. 07, 2022USD ($)$ / shares | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Subsequent Event [Line Items] | ||||
Assets | $ 3,011,983,000 | $ 2,768,862,000 | ||
Deposits | $ 2,416,701,000 | $ 2,189,398,000 | ||
Comunibanc And The Henry County Bank [Member] | ||||
Subsequent Event [Line Items] | ||||
Assets | $ 329,000,000 | |||
loans | 165,000,000 | |||
Deposits | $ 276,000,000 | |||
CBI Common Shares [Member] | ||||
Subsequent Event [Line Items] | ||||
Stockholders' equity note, stock split, conversion ratio | 1.1888 | |||
Amount of cash received in conversion of shares | $ 30,130 | |||
Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Common stock, value, outstanding | $ 50,200,000 | |||
Shares issued, price per share | $ / shares | $ 60.59 | |||
Common stock, par or stated value per share | $ / shares | $ 25.62 |