Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 04, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Civista Bancshares, Inc. | |
Entity Central Index Key | 0000944745 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 15,025,972 | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity File Number | 001-36192 | |
Entity Tax Identification Number | 34-1558688 | |
Entity Incorporation, State or Country Code | OH | |
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 Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes | |
Title of 12(b) Security | Common | |
Trading Symbol | CIVB | |
Security Exchange Name | NASDAQ |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from financial institutions | $ 246,165 | $ 128,222 |
Restricted cash | 7,000 | 11,300 |
Cash and cash equivalents | 253,165 | 139,522 |
Securities available for sale | 498,149 | 363,464 |
Equity securities | 1,077 | 886 |
Loans held for sale | 5,810 | 7,001 |
Loans, net of allowance of $26,568 and $25,028 | 1,978,246 | 2,032,474 |
Other securities | 17,011 | 20,537 |
Premises and equipment, net | 22,716 | 22,580 |
Accrued interest receivable | 7,728 | 9,421 |
Goodwill | 76,851 | 76,851 |
Other intangible assets, net | 7,738 | 8,075 |
Bank owned life insurance | 46,728 | 45,976 |
Swap assets | 12,858 | 21,700 |
Other assets | 24,159 | 20,375 |
Total assets | 2,952,236 | 2,768,862 |
Deposits | ||
Noninterest-bearing | 832,492 | 720,809 |
Interest-bearing | 1,602,274 | 1,468,589 |
Total deposits | 2,434,766 | 2,189,398 |
Long-term Federal Home Loan Bank advances | 75,000 | 125,000 |
Securities sold under agreements to repurchase | 23,331 | 28,914 |
Subordinated debentures | 29,427 | 29,427 |
Swap liabilities | 12,858 | 21,764 |
Accrued expenses and other liabilities | 28,404 | 24,251 |
Total liabilities | 2,603,786 | 2,418,754 |
SHAREHOLDERS’ EQUITY | ||
Common shares, no par value, 40,000,000 shares authorized, 17,711,815 shares issued at September 30, 2021 and 17,664,951 shares issued at December 31, 2020, including Treasury Shares | 277,627 | 277,039 |
Retained earnings | 116,680 | 93,048 |
Treasury shares, 2,681,843 common shares at September 30, 2021 and 1,766,919 common shares at December 31, 2020, at cost | (55,155) | (34,598) |
Accumulated other comprehensive income | 9,298 | 14,619 |
Total shareholders’ equity | 348,450 | 350,108 |
Total liabilities and shareholders’ equity | $ 2,952,236 | $ 2,768,862 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Statement Of Financial Position [Abstract] | ||
Allowance for loan losses | $ 26,568 | $ 25,028 |
Common stock, no par value | ||
Common shares, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 17,711,815 | 17,664,951 |
Treasury shares, common shares | 2,681,843 | 1,766,919 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest and dividend income | ||||
Loans, including fees | $ 22,704 | $ 21,638 | $ 68,140 | $ 64,924 |
Taxable securities | 1,423 | 1,325 | 3,928 | 4,100 |
Tax-exempt securities | 1,555 | 1,536 | 4,599 | 4,589 |
Deposits in other banks | 102 | 59 | 341 | 531 |
Total interest and dividend income | 25,784 | 24,558 | 77,008 | 74,144 |
Interest expense | ||||
Deposits | 970 | 1,631 | 3,366 | 5,418 |
Federal Home Loan Bank advances | 194 | 452 | 968 | 1,480 |
Subordinated debentures | 182 | 194 | 553 | 757 |
Securities sold under agreements to repurchase and other | 5 | 275 | 19 | 293 |
Total interest expense | 1,351 | 2,552 | 4,906 | 7,948 |
Net interest income | 24,433 | 22,006 | 72,102 | 66,196 |
Provision for loan losses | 0 | 2,250 | 830 | 7,862 |
Net interest income after provision for loan losses | 24,433 | 19,756 | 71,272 | 58,334 |
Noninterest income | ||||
Service charges | 1,519 | 1,414 | 4,092 | 3,812 |
Net gain on sale of securities | 4 | 92 | 1,787 | 92 |
Net gain (loss) on equity securities | 50 | 20 | 191 | (126) |
Net gain on sale of loans | 1,612 | 2,413 | 6,575 | 5,501 |
ATM/Interchange fees | 1,330 | 1,183 | 3,950 | 3,226 |
Wealth management fees | 1,236 | 1,006 | 3,570 | 2,916 |
Bank owned life insurance | 261 | 243 | 752 | 733 |
Tax refund processing fees | 2,375 | 2,375 | ||
Swap fees | 41 | 158 | 135 | 1,260 |
Other | 373 | 257 | 1,214 | 727 |
Total noninterest income | 6,426 | 6,786 | 24,641 | 20,516 |
Noninterest expense | ||||
Compensation expense | 11,390 | 10,595 | 34,578 | 32,063 |
Net occupancy expense | 985 | 1,010 | 3,216 | 3,050 |
Equipment expense | 444 | 494 | 1,340 | 1,507 |
Contracted data processing | 429 | 415 | 1,362 | 1,340 |
FDIC assessment | 247 | 288 | 829 | 531 |
State franchise tax | 511 | 427 | 1,607 | 1,394 |
Professional services | 776 | 669 | 2,255 | 2,289 |
Amortization of intangible assets | 223 | 227 | 668 | 686 |
ATM/Interchange expense | 594 | 538 | 1,843 | 1,316 |
Marketing | 359 | 361 | 1,000 | 1,056 |
Software maintenance expense | 819 | 506 | 1,872 | 1,350 |
Other operating expenses | 2,677 | 2,197 | 10,741 | 7,115 |
Total noninterest expense | 19,454 | 17,727 | 61,311 | 53,697 |
Income before taxes | 11,405 | 8,815 | 34,602 | 25,153 |
Income tax expense | 1,763 | 1,133 | 5,038 | 3,134 |
Net Income | $ 9,642 | $ 7,682 | $ 29,564 | $ 22,019 |
Earnings per common share, basic | $ 0.64 | $ 0.48 | $ 1.90 | $ 1.36 |
Earnings per common share, diluted | $ 0.64 | $ 0.48 | $ 1.90 | $ 1.36 |
Weighted average common shares, basic | 15,096,162 | 15,991,270 | 15,479,424 | 16,154,652 |
Weighted average common shares, diluted | 15,096,162 | 15,991,270 | 15,479,424 | 16,154,652 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 9,642 | $ 7,682 | $ 29,564 | $ 22,019 |
Other comprehensive income (loss): | ||||
Unrealized holding gains (losses) on available for sale securities | (3,107) | 948 | (6,977) | 9,386 |
Tax effect | 652 | (199) | 1,465 | (1,971) |
Reclassification of gains recognized in net income | (4) | (92) | (2) | (92) |
Tax effect | 19 | 19 | ||
Pension liability adjustment | 81 | 72 | 244 | 217 |
Tax effect | (17) | (15) | (51) | (46) |
Total other comprehensive income (loss) | (2,395) | 733 | (5,321) | 7,513 |
Comprehensive income | $ 7,247 | $ 8,415 | $ 24,243 | $ 29,532 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Shares [Member] | Retained Earnings [Member] | Treasury Shares [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning balance at Dec. 31, 2019 | $ 330,126 | $ 276,422 | $ 67,974 | $ (21,144) | $ 6,874 |
Balance, shares at Dec. 31, 2019 | 16,687,542 | ||||
Net Income | 22,019 | 22,019 | |||
Other comprehensive income (Loss) | 7,513 | 7,513 | |||
Stock-based compensation | 518 | $ 518 | |||
Stock-based compensation, shares | 41,245 | ||||
Common stock dividends ($0.14, $0.11, $0.38 and $0.33 per share for three and nine months ended September 30, 2021 and 2020) | (5,365) | (5,365) | |||
Purchase of common stock | (12,756) | (12,756) | |||
Purchase of common stock, shares | (783,308) | ||||
Ending balance at Sep. 30, 2020 | 342,055 | $ 276,940 | 84,628 | (33,900) | 14,387 |
Balance, shares at Sep. 30, 2020 | 15,945,479 | ||||
Beginning balance at Jun. 30, 2020 | 336,613 | $ 276,841 | 78,712 | (32,594) | 13,654 |
Balance, shares at Jun. 30, 2020 | 16,052,979 | ||||
Net Income | 7,682 | 7,682 | |||
Other comprehensive income (Loss) | 733 | 733 | |||
Stock-based compensation | 99 | $ 99 | |||
Common stock dividends ($0.14, $0.11, $0.38 and $0.33 per share for three and nine months ended September 30, 2021 and 2020) | (1,766) | (1,766) | |||
Purchase of common stock | (1,306) | (1,306) | |||
Purchase of common stock, shares | (107,500) | ||||
Ending balance at Sep. 30, 2020 | 342,055 | $ 276,940 | 84,628 | (33,900) | 14,387 |
Balance, shares at Sep. 30, 2020 | 15,945,479 | ||||
Beginning balance at Dec. 31, 2020 | 350,108 | $ 277,039 | 93,048 | (34,598) | 14,619 |
Balance, shares at Dec. 31, 2020 | 15,898,032 | ||||
Net Income | 29,564 | 29,564 | |||
Other comprehensive income (Loss) | (5,321) | (5,321) | |||
Stock-based compensation | 588 | $ 588 | |||
Stock-based compensation, shares | 46,864 | ||||
Common stock dividends ($0.14, $0.11, $0.38 and $0.33 per share for three and nine months ended September 30, 2021 and 2020) | (5,932) | (5,932) | |||
Purchase of common stock | (20,557) | (20,557) | |||
Purchase of common stock, shares | (914,924) | ||||
Ending balance at Sep. 30, 2021 | 348,450 | $ 277,627 | 116,680 | (55,155) | 9,298 |
Balance, shares at Sep. 30, 2021 | 15,029,972 | ||||
Beginning balance at Jun. 30, 2021 | 352,413 | $ 277,495 | 109,178 | (45,953) | 11,693 |
Balance, shares at Jun. 30, 2021 | 15,434,592 | ||||
Net Income | 9,642 | 9,642 | |||
Other comprehensive income (Loss) | (2,395) | (2,395) | |||
Stock-based compensation | 132 | $ 132 | |||
Common stock dividends ($0.14, $0.11, $0.38 and $0.33 per share for three and nine months ended September 30, 2021 and 2020) | (2,140) | (2,140) | |||
Purchase of common stock | (9,202) | (9,202) | |||
Purchase of common stock, shares | (404,620) | ||||
Ending balance at Sep. 30, 2021 | $ 348,450 | $ 277,627 | $ 116,680 | $ (55,155) | $ 9,298 |
Balance, shares at Sep. 30, 2021 | 15,029,972 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Retained Earnings [Member] | ||||
Common stock dividends per share | $ 0.14 | $ 0.11 | $ 0.38 | $ 0.33 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Statement Of Cash Flows [Abstract] | ||
Net cash from operating activities | $ 34,295 | $ 25,301 |
Cash flows used for investing activities: | ||
Maturities, paydowns and calls of securities, available-for-sale | 43,277 | 38,869 |
Purchases of securities, available-for-sale | (184,119) | (39,144) |
Proceeds from sale of securities available for sale | 1,785 | 1,455 |
Purchase of other securities | (257) | |
Redemption of other securities | 3,526 | |
Sale of equity securities | 247 | |
Net loan repayments (originations) | 54,926 | (339,683) |
Proceeds from sale of other real estate owned properties | 118 | |
Proceeds from sale of premises and equipment | 13 | 12 |
Premises and equipment purchases | (1,689) | (1,780) |
Net cash used for investing activities | (83,948) | (340,281) |
Cash flows from financing activities: | ||
Repayment of long-term FHLB advances | (50,000) | |
Net change in short-term FHLB advances | (101,500) | |
Proceeds from other borrowings | 183,695 | |
Increase in deposits | 245,368 | 390,005 |
Increase (decrease) in securities sold under repurchase agreements | (5,583) | 7,139 |
Purchase of treasury shares | (20,557) | (12,756) |
Common dividends paid | (5,932) | (5,365) |
Net cash provided by financing activities | 163,296 | 461,218 |
Increase in cash and cash equivalents | 113,643 | 146,238 |
Cash and cash equivalents at beginning of period | 139,522 | 48,535 |
Cash and cash equivalents at end of period | 253,165 | 194,773 |
Cash paid during the period for: | ||
Interest | 4,995 | 7,733 |
Income taxes | 4,690 | 4,595 |
Supplemental cash flow information: | ||
Transfer of loans from portfolio to other real estate owned | 26 | |
Transfer of premises to held-for-sale | 73 | |
Change in fair value of swap asset | 8,906 | (15,809) |
Change in fair value of swap liability | (8,906) | $ 15,809 |
Securities purchased not settled | $ 3,857 |
Consolidated Financial Statemen
Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Consolidated Financial Statements | (1) Consolidated Financial Statements Nature of Operations and Principles of Consolidation The Consolidated Financial Statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the Company’s financial position as of September 30, 2021 and its results of operations and changes in cash flows for the periods ended September 30, 2021 and 2020 have been made. The accompanying Unaudited Consolidated Financial Statements have been prepared in accordance with instructions of Form 10-Q, and therefore certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been omitted. The results of operations for the period ended September 30, 2021 are not necessarily indicative of the operating results for the full year. Reference is made to the accounting policies of the Company described in the notes to the audited financial statements contained in the Company’s 2020 annual report. The Company has consistently followed these policies in preparing this Form 10-Q. Civista provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Madison, Summit, Huron, Ottawa, Richland, Montgomery and Cuyahoga, 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. Civista has two loan concentrations, one is to Lessors of Non-Residential Buildings and Dwellings totaling $572,533, or 28.4% of total loans, as of September 30, 2021, and the other is to Lessors of Residential Buildings and Dwellings totaling $290,758, or 14.4% of total loans, as of September 30, 2021. These segments of the loan portfolio have been underwritten, monitored and managed by experienced commercial bankers. However, the customers’ ability to repay their loans is dependent on the real estate market and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions that are in excess of federally insured limits. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | (2) Significant Accounting Policies Allowance for Loan Losses: The allowance for loan losses is regularly reviewed by management to determine that the amount is considered adequate to absorb probable losses in the loan portfolio. If not, an additional provision is made to increase the allowance. This evaluation includes specific loss estimates on certain individually reviewed impaired loans, the pooling of commercial credits risk graded as special mention and substandard that are not individually analyzed, and general loss estimates that are based upon the size, quality, and concentration characteristics of the various loan portfolios, adverse situations that may affect a borrower’s ability to repay, and current economic and industry conditions, among other items. Those judgments and assumptions that are most critical to the application of this accounting policy are assessing the initial and on-going credit-worthiness of the borrower, the amount and timing of future cash flows of the borrower that are available for repayment of the loan, the sufficiency of underlying collateral, the enforceability of third-party guarantees, the frequency and subjectivity of loan reviews and risk ratings, emerging or changing trends that might not be fully captured in the historical loss experience, and charges against the allowance for actual losses that are greater than previously estimated. These judgments and assumptions are dependent upon or can be influenced by a variety of factors, including the breadth and depth of experience of lending officers, credit administration and the corporate loan review staff that periodically review the status of the loan, changing economic and industry conditions, changes in the financial condition of the borrower and changes in the value and availability of the underlying collateral and guarantees. Use of Estimates 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 (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) 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 The amendments to Topic 825 were to be effective for interim and annual reporting periods beginning after December 15, 2019. Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) This Update is not expected to have a material impact on the Company’s financial statements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses, Topic 326 Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) 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 periods within those years. Other amendments are effective upon issuance of this ASU. This Update is not expected to have a significant impact on the Company’s financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Other recent ASU’s issued by the FASB did not, or are not believed by management to have, a material effect on the Company’s present or future Consolidated Financial Statements. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | (3) Securities The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized were as follows: September 30, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 53,247 $ 186 $ (156 ) $ 53,277 Obligations of states and political subdivisions 240,179 17,086 (550 ) 256,715 Mortgage-backed securities in government sponsored entities 184,553 3,974 (370 ) 188,157 Total debt securities $ 477,979 $ 21,246 $ (1,076 ) $ 498,149 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 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-backed 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 September 30, 2021, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available for sale Amortized Cost Fair Value Due in one year or less $ 9,132 $ 9,172 Due after one year through five years 31,533 31,732 Due after five years through ten years 45,283 47,236 Due after ten years 207,478 221,852 Mortgage-backed securities 184,553 188,157 Total securities available for sale $ 477,979 $ 498,149 Proceeds from sales of securities available for sale, gross realized gains and gross realized losses were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Sale proceeds $ — $ 1,455 $ 1,785 $ 1,455 Gross realized gains — 94 1,785 94 Gross realized losses — — — — Gains (losses) from securities called or settled by the issuer 4 (2 ) 2 (2 ) During the second quarter of 2021, the Company recorded a $1.785 million gain on the sale of its 7,361 shares of Visa Class B shares. As a result of this sale, the Company no longer owns any Visa Class B shares. The carrying value of the Visa Class B shares on the Company’s balance sheet was nominal as the Bank had no other historical cost basis in the shares. Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $174,794 and $159,527 as of September 30, 2021 and December 31, 2020, respectively. Securities with unrealized losses at September 30, 2021 and December 31, 2020 not recognized in income are set forth in the tables below, segregated by securities with maturities of 12 months or less and securities with maturities of more than 12 months: September 30, 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 $ 23,327 $ (119 ) $ 2,048 $ (37 ) $ 25,375 $ (156 ) Obligations of states and political subdivisions 36,646 (550 ) — — 36,646 (550 ) Mortgage-backed securities in gov’t sponsored entities 72,464 (282 ) 3,521 (88 ) 75,985 (370 ) Total temporarily impaired $ 132,437 $ (951 ) $ 5,569 $ (125 ) $ 138,006 $ (1,076 ) December 31, 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 ) At September 30, 2021, there were a total of 60 securities in the portfolio with unrealized losses mainly due to higher current market rates when compared to the time of purchase. Unrealized losses on securities have not been recognized into income because the issuers’ securities 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 currently higher market rates when compared to the time of purchase. 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 for the three- and nine-months ended September 30, 2021 and 2020, and the portion of unrealized gains and losses for the period that relates to equity investments held at September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net gains (losses) recognized on equity securities during the period $ 50 $ 20 $ 191 $ (126 ) Less: Net losses realized on the sale of equity securities during the period — — — 6 Unrealized gains (losses) recognized on equity securities held at reporting date $ 50 $ 20 $ 191 $ (120 ) |
Loans
Loans | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loans | (4) Loans Loan balances were as follows: September 30, 2021 December 31, 2020 Commercial & Agriculture $ 276,741 $ 409,876 Commercial Real Estate- Owner Occupied 292,725 278,413 Commercial Real Estate- Non-Owner Occupied 788,898 705,072 Residential Real Estate 424,553 442,588 Real Estate Construction 179,491 175,609 Farm Real Estate 30,147 33,102 Consumer and Other 12,259 12,842 Total loans 2,004,814 2,057,502 Allowance for loan losses (26,568 ) (25,028 ) Net loans $ 1,978,246 $ 2,032,474 Included in Commercial & Agriculture loans above are $83,287 and $217,295 of Paycheck Protection Program (“PPP”) loans as of September 30, 2021 and December 31, 2020, respectively. Included in total loans above are net deferred loan fees of $4,444 and $5,998 at September 30, 2021 and December 31, 2020, respectively. Included in net deferred loan fees as of September 30, 2021 and December 31, 2020 are $3,340 and $5,194, respectively, of net deferred loans 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 COVID-19. 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. As required by the Relief Act, on January 7, 2021, the SBA issued additional guidance (the “SBA Guidance”) providing additional details on certain changes to the existing PPP structure and the new PPP Second Draw Loans, and the PPP Second Draw Loan applications were released on January 11, 2021. 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 the nine months ended September 30, 2021, Civista received SBA approval on, and funded, 1,340 PPP loans totaling $131,109 under the Relief Act. |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2021 | |
Text Block [Abstract] | |
Allowance for Loan Losses | (5) Allowance for Loan Losses Management has an established methodology for determining 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. 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 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 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 balance sheet date. The Company considers the allowance for loan losses of $26,568 adequate to cover loan losses inherent in the loan portfolio, at September 30, 2021 . The following tables present, by portfolio segment, the changes in the allowance for loan losses for the three- and nine-months ended September 30, 2021 and 2020 . Allowance for loan losses: For the three months ended September 30, 2021 Beginning Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,320 $ — $ 1 $ 191 $ 2,512 Commercial Real Estate: Owner Occupied 4,027 — — 389 4,416 Non-Owner Occupied 13,546 — 381 (757 ) 13,170 Residential Real Estate 2,531 (77 ) 53 89 2,596 Real Estate Construction 2,177 — — 282 2,459 Farm Real Estate 290 — 3 15 308 Consumer and Other 202 — 10 — 212 Unallocated 1,104 — — (209 ) 895 Total $ 26,197 $ (77 ) $ 448 $ — $ 26,568 For the three months ended September 30, 2021, the Company provided $0 to the allowance for loan losses, as compared to a provision of $2,250 for the three months ended September 30, 2020. The decrease in the provision in the third quarter of 2021, as compared to the third quarter of 2020, 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 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 variant of COVID. We remain cautious given the level of classified loans in the portfolio, particularly loans to borrowers in the hotel industry as well as the challenges businesses face in today’s environment. Economic impacts related to the COVID-19 pandemic since March 2020 have included the loss of revenue experienced 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. While some of these pressures have eased, ongoing supply chain and staffing challenges, as well as the threat of inflation remain. During the three months ended September 30, 2021, 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 non-PPP loan balances. Commercial and Agriculture loan balances decreased during the quarter mainly from Civista’s participation in the PPP loan program. The result was represented as an increase 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 decreased due to decreases in classified loan balances and loss rates, offset by an increase in general reserves required as a result of an increase in loan balances. This was represented as a decrease 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 increased due to an increase in loss rates on substandard classified loan balances, offset by lower loan balances. This was represented as an increase 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 September 30, 2021. Allowance for loan losses: For the three months ended September 30, 2020 Beginning balance Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,799 $ — $ 1 $ (139 ) $ 2,661 Commercial Real Estate: Owner Occupied 3,411 (147 ) 6 685 3,955 Non-Owner Occupied 9,169 — 3 1,406 10,578 Residential Real Estate 2,434 (11 ) 117 (83 ) 2,457 Real Estate Construction 1,844 — 1 500 2,345 Farm Real Estate 361 — 3 (4 ) 360 Consumer and Other 247 (27 ) 21 (21 ) 220 Unallocated 155 — — (94 ) 61 Total $ 20,420 $ (185 ) $ 152 $ 2,250 $ 22,637 For the three months ended September 30, 2020, the Company provided $2,250 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, as well as the significant increase in classified assets during the quarter, particularly in the special mention category. Economic impacts from the COVID-19 pandemic during the three months ended September 30, 2020 included the loss of revenue experienced 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. For the three months ended September 30, 2020, 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 loan balances. 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 factors related to the COVID-19 pandemic, increased loan balances and loss rates and by increased classified and non-accrual loans. 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 and by an increase in classified loans. This was represented as an increase in the provision. The allowance for Residential Real Estate loans increased due to an increase in recoveries for this type of loan. The result was represented by a decrease in the provision. The allowance for Real Estate Construction loans increased due to an increase in loss rates on classified loans, represented by an increase in the provision. Management determined that the unallocated amount was appropriate and within the relevant range for the allowance that was reflective of the risk in the portfolio at September 30, 2020. Allowance for loan losses: For the nine months ended September 30, 2021 Beginning balance Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,810 $ (15 ) $ 164 $ (447 ) $ 2,512 Commercial Real Estate: Owner Occupied 4,057 — 6 353 4,416 Non-Owner Occupied 12,451 — 392 327 13,170 Residential Real Estate 2,484 (114 ) 232 (6 ) 2,596 Real Estate Construction 2,439 — 1 19 2,459 Farm Real Estate 338 — 9 (39 ) 308 Consumer and Other 209 (19 ) 54 (32 ) 212 Unallocated 240 — — 655 895 Total $ 25,028 $ (148 ) $ 858 $ 830 $ 26,568 For the nine months ended September 30, 2021, the Company provided $830 to the allowance for loan losses, as compared to a provision of $7,862 for the nine months ended September 30, 2020. The decrease in the provision in the first nine months of 2021 as compared to the same period of 2020, 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 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 variant of COVID. We remain cautious given the level of classified loans in the portfolio, particularly loans to borrowers in the hotel industry as well as the challenges business face in today’s environment. Economic impacts related to the COVID-19 pandemic since March 2020 have included the loss of revenue experienced 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. While some of these pressures have eased, ongoing supply chain and staffing challenges, as well as the threat of inflation remain. For the nine months ended September 30, 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 & Agriculture loan balances decreased during the period 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 decreases in classified 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 as a result of an increase in loan balances, offset by a decrease in classified loan balances and by a decrease 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 recoveries for this type of loan. The result was represented by a decrease in the provision. The allowance for Real Estate Construction loans increased due to an increase in loan balances, represented by an increase in the provision. The allowance for Farm Real Estate loans decreased due to a decrease in general reserves required for this type as a result of decreased loan balances. The result 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 September 30, 2021. Allowance for loan losses: For the nine months ended September 30, 2020 Beginning balance Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,219 $ (15 ) $ 5 $ 452 $ 2,661 Commercial Real Estate: Owner Occupied 2,541 (148 ) 20 1,542 3,955 Non-Owner Occupied 6,584 — 44 3,950 10,578 Residential Real Estate 1,582 (108 ) 196 787 2,457 Real Estate Construction 1,250 — 3 1,092 2,345 Farm Real Estate 344 — 10 6 360 Consumer and Other 247 (54 ) 55 (28 ) 220 Unallocated — — — 61 61 Total $ 14,767 $ (325 ) $ 333 $ 7,862 $ 22,637 For the nine months ended September 30, 2020, the Company provided $7,862 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 the nine months ended September 30, 2020 included the loss of revenue experienced 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, offset by a decrease in loss rates, resulting in an increase in the provision. PPP loans are eligible for a 100% guaranty by the SBA. However, in the event of a loss resulting from a default on a PPP loan, and a determination by the SBA that there was a deficiency in the manner on which the PPP loan was originated or funded, the SBA may deny its liability under the guaranty. The reserve percentage for PPP loans is substantially less than the other loans in this segment resulting in an overall decrease in the reserve percentage. 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 and non-accrual loans 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, offset by a decrease 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 and loss rates, 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 on classified loans, represented by an increase in the provision. The allowance for Farm Real Estate loans increased due to an increase in general reserves required as a result of an increase in loan balances. The result was represented as an increase in the provision. Management determined that the unallocated amount was appropriate and within the relevant range for the allowance that was reflective of the risk in the portfolio at September 30, 2020. The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of September 30, 2021 and December 31, 2020. September 30, 2021 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 2,512 $ 2,512 Commercial Real Estate: Owner Occupied — 55 4,361 4,416 Non-Owner Occupied — — 13,170 13,170 Residential Real Estate — 18 2,578 2,596 Real Estate Construction — — 2,459 2,459 Farm Real Estate — — 308 308 Consumer and Other — — 212 212 Unallocated — — 895 895 Total $ — $ 73 $ 26,495 $ 26,568 Outstanding loan balances: Commercial & Agriculture $ — $ — $ 276,741 $ 276,741 Commercial Real Estate: Owner Occupied — 205 292,520 292,725 Non-Owner Occupied — — 788,898 788,898 Residential Real Estate 296 545 423,712 424,553 Real Estate Construction — — 179,491 179,491 Farm Real Estate — 522 29,625 30,147 Consumer and Other — — 12,259 12,259 Total $ 296 $ 1,272 $ 2,003,246 $ 2,004,814 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 present credit exposures by internally assigned risk grades as of September 30, 2021 and December 31, 2020. 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 grading system is based on experiences with similarly graded loans. The Company’s internally assigned risk grades are as follows: • Pass – loans which are protected by the current net worth and paying capacity of the obligor or by the value of the underlying collateral. • Special Mention – loans where a potential weakness or risk exists, which could cause a more serious problem if not corrected. • Substandard – loans that have a well-defined weakness based on objective evidence and are characterized by the distinct possibility that Civista will sustain some loss if the deficiencies are not corrected. • Doubtful – loans classified as doubtful have all the weaknesses inherent in a substandard asset. In addition, these weaknesses make collection or liquidation in full highly questionable and improbable, based on existing circumstances. • Loss – loans classified as a loss are considered uncollectible, or of such value that continuance as an asset is not warranted. Generally, Residential Real Estate, Real Estate Construction and Consumer and Other loans are not risk-graded, except when collateral is used for a business purpose. Only those loans that have been risk rated are included below. September 30, 2021 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 273,617 $ 1,700 $ 1,424 $ — $ 276,741 Commercial Real Estate: Owner Occupied 279,409 5,120 8,196 — 292,725 Non-Owner Occupied 706,117 45,334 37,447 — 788,898 Residential Real Estate 75,337 266 4,387 — 79,990 Real Estate Construction 162,772 268 457 — 163,497 Farm Real Estate 28,711 206 1,230 — 30,147 Consumer and Other 913 — 21 — 934 Total $ 1,526,876 $ 52,894 $ 53,162 $ — $ 1,632,932 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 The following tables present performing and nonperforming loans based solely on payment activity for the periods ended September 30, 2021 and December 31, 2020 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 90 days past due and if management determines 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 mitigation 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 six months. September 30, 2021 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 344,563 $ 15,994 $ 11,325 $ 371,882 Nonperforming — — — — Total $ 344,563 $ 15,994 $ 11,325 $ 371,882 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 September 30, 2021 and December 31, 2020. September 30, 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 $ 400 $ — $ — $ 400 $ 276,341 $ — $ 276,741 $ — Commercial Real Estate: Owner Occupied — 10 575 585 292,140 — 292,725 430 Non-Owner Occupied — — 4 4 788,894 — 788,898 — Residential Real Estate 147 248 766 1,161 423,096 296 424,553 — Real Estate Construction — — — — 179,491 — 179,491 — Farm Real Estate — — — — 30,147 — 30,147 — Consumer and Other 87 4 9 100 12,159 — 12,259 — Total $ 634 $ 262 $ 1,354 $ 2,250 $ 2,002,268 $ 296 $ 2,004,814 $ 430 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 September 30, 2021 and December 31, 2020. September 30, 2021 December 31, 2020 Commercial & Agriculture $ — $ 139 Commercial Real Estate: Owner Occupied 359 964 Non-Owner Occupied 4 6 Residential Real Estate 3,129 3,893 Real Estate Construction 6 7 Farm Real Estate — 85 Consumer and Other 21 31 Total $ 3,519 $ 5,125 Nonaccrual Loans: Modifications: 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 fair value of the collateral, less any selling costs, if the loan is collateral dependent. Management exercises significant judgment in developing these estimates. As of September 30, 2021, TDRs accounted for $73 of the allowance for loan losses. As of December 31, 2020, TDRs accounted for $35 of the allowance for loan losses. There were no loans modified as TDRs during the three-and nine-month periods ended September 30, 2021 or 2020. 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 origination loans, so modified loans present a higher risk of loss than do new origination loans. During the three- and nine-month periods ended September 30, 2021 and September 30, 2020, there were no defaults on loans that were modified and considered TDRs during the respective previous twelve months. Impaired Loans: 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 September 30, 2021, Civista had 18 loans with an aggregate principal balance outstanding of $18,787 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 Loans Balance Percent of Loans Outstanding (In thousands) Commercial & Agriculture 6 $ 1,571 0.08 % Commercial Real Estate: Owner Occupied 2 2,591 0.13 % Non-Owner Occupied 9 14,174 0.71 % Real Estate Construction 1 451 0.02 % Total 18 $ 18,787 0.94 % The following table includes the recorded investment and unpaid principal balances for impaired loans, excluding PCI loans, with the associated allowance amount, if applicable, as of September 30, 2021 and December 31, 2020. September 30, 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 $ 12 $ 12 $ 757 $ 757 Non-Owner Occupied — — 48 48 Residential Real Estate 514 539 915 940 Farm Real Estate 522 522 618 618 Total 1,048 1,073 2,338 2,363 With an allowance recorded: Commercial & Agriculture — — $ — 74 74 $ 73 Commercial Real Estate: Owner Occupied 193 193 55 223 223 5 Residential Real Estate 31 34 18 31 35 29 Total 224 227 73 328 332 107 Total: Commercial & Agriculture — — — 74 74 73 Commercial Real Estate: Owner Occupied 205 205 55 980 980 5 Non-Owner Occupied — — — 48 48 — Residential Real Estate 545 573 18 946 975 29 Farm Real Estate 522 522 — 618 618 — Total $ 1,272 $ 1,300 $ 73 $ 2,666 $ 2,695 $ 107 The following table includes the average recorded investment and interest income recognized for impaired financing receivables for the three- and nine-month periods ended September 30, 2021 and 2020. September 30, 2021 September 30, 2020 For the three months ended Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial Real Estate—Owner Occupied $ 252 $ 4 $ 391 $ 7 Commercial Real Estate—Non-Owner Occupied 15 — 212 5 Residential Real Estate 551 8 1,175 10 Farm Real Estate 557 6 644 7 Total $ 1,375 $ 18 $ 2,422 $ 29 September 30, 2021 September 30, 2020 For the nine months ended Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 19 $ — $ 92 $ 4 Commercial Real Estate—Owner Occupied 449 15 406 21 Commercial Real Estate—Non-Owner Occupied 29 1 292 15 Residential Real Estate 654 24 1,464 34 Farm Real Estate 584 18 655 20 Total $ 1,735 $ 58 $ 2,909 $ 94 Changes in the accretable yield for PCI loans were as follows, since acquisition: For the Three-Month Period Ended September 30, 2021 For the Three-Month Period Ended September 30, 2020 (In Thousands) (In Thousands) Balance at beginning of period $ 224 $ 205 Acquisition of PCI loans — — Accretion (6 ) (101 ) Transfer from non-accretable to accretable — 74 Balance at end of period $ 218 $ 178 For the Nine-Month Period Ended September 30, 2021 For the Nine-Month Period Ended September 30, 2020 (In Thousands) (In Thousands) Balance at beginning of period $ 225 $ 255 Acquisition of PCI loans — — Accretion (62 ) (270 ) Transfer from non-accretable to accretable 55 193 Balance at end of period $ 218 $ 178 The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30: At September 30, 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 $ 525 $ 687 Carrying amount 296 388 There was no allowance for loan losses recorded for acquired loans with or without specific evidence of deterioration in credit quality as of September 30, 2021 or December 31, 2020. Foreclosed Assets Held For Sale 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 September 30, 2021, there were $26 of foreclosed assets included in Other assets. As of December 31, 2020, there were $31 of foreclosed assets included in Other assets. As of September 30, 2021 and December 31, 2020, the Company had initiated formal foreclosure procedures on $296 and $741, respectively, of consumer residential mortgages. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | (6) Accumulated Other Comprehensive Income The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax for the three month periods ended September 30, 2021 and September 30, 2020. For the Three-Month Period Ended For the Three-Month Period Ended September 30, 2021(a) September 30, 2020(a) Unrealized Gains and (Losses) on Available-for- Sale Securities (a) Defined Benefit Pension Items (a) Total (a) Unrealized Gains and (Losses) on Available-for- Sale Securities (a) Defined Benefit Pension Items (a) Total (a) Beginning balance $ 18,392 $ (6,699 ) $ 11,693 $ 19,549 $ (5,895 ) $ 13,654 Other comprehensive income (loss) before reclassifications (2,455 ) — (2,455 ) 749 — 749 Amounts reclassified from accumulated other comprehensive income (loss) (4 ) 64 60 (73 ) 57 (16 ) Net current-period other comprehensive income (loss) (2,459 ) 64 (2,395 ) 676 57 733 Ending balance $ 15,933 $ (6,635 ) $ 9,298 $ 20,225 $ (5,838 ) $ 14,387 (a) Amounts in parentheses indicate debits on the Consolidated Balance Sheets. The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three month periods ended September 30, 2021 and September 30, 2020. Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (a) Details about Accumulated Other Comprehensive Income (Loss) Components For the Three months ended September 30, 2021 For the Three months ended September 30, 2020 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains on available-for-sale securities $ 4 $ 92 Net gain on sale of securities Tax effect — (19 ) Income tax expense 4 73 Amortization of defined benefit pension items Actuarial gains/(losses) (b) (81 ) (72 ) Other operating expenses Tax effect 17 15 Income tax expense (64 ) (57 ) Total reclassifications for the period $ (60 ) $ 16 (a) Amounts in parentheses indicate expenses/losses and other amounts indicate income/benefit. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax for the nine month periods ended September 30, 2021 and September 30, 2020. For the Nine-Month Period Ended For the Nine-Month Period Ended September 30, 2021(a) September 30, 2020(a) Unrealized Gains and (Losses) on Available-for- Sale Securities (a) Defined Benefit Pension Items (a) Total (a) Unrealized Gains and (Losses) on Available-for- Sale Securities (a) Defined Benefit Pension Items (a) Total (a) Beginning balance $ 21,447 $ (6,828 ) $ 14,619 $ 12,883 $ (6,009 ) $ 6,874 Other comprehensive income (loss) before reclassifications (5,512 ) — (5,512 ) 7,415 — 7,415 Amounts reclassified from accumulated other comprehensive income (loss) (2 ) 193 191 (73 ) 171 98 Net current-period other comprehensive income (loss) (5,514 ) 193 (5,321 ) 7,342 171 7,513 Ending balance $ 15,933 $ (6,635 ) $ 9,298 $ 20,225 $ (5,838 ) $ 14,387 (a) Amounts in parentheses indicate debits on the Consolidated Balance Sheets The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the nine month periods ended September 30, 2021 and September 30, 2020. Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (a) Details about Accumulated Other Comprehensive Income (Loss) Components For the Nine months ended September 30, 2021 For the Nine months ended September 30, 2020 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains on available-for-sale securities $ 2 $ 92 Net gain on sale of securities Tax effect — (19 ) Income tax expense 2 73 Amortization of defined benefit pension items Actuarial gains/(losses) (b) (244 ) (217 ) Other operating expenses Tax effect 51 46 Income tax expense (193 ) (171 ) Total reclassifications for the period $ (191 ) $ (98 ) (a) Amounts in parentheses indicate expenses/losses and other amounts indicate income/benefit. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | (7) Goodwill and Intangible Assets There was no change in the carrying amount of goodwill of $76,851 for the periods ended September 30, 2021 and December 31, 2020. Acquired intangible assets, other than goodwill, as of September 30, 2021 and December 31, 2020 were as follows: 2021 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets(1): Core deposit intangibles $ 8,527 $ 3,365 $ 5,162 $ 8,527 $ 2,698 $ 5,829 Total amortized intangible assets $ 8,527 $ 3,365 $ 5,162 $ 8,527 $ 2,698 $ 5,829 (1) Excludes fully amortized intangible assets. Certain fully amortized assets were removed from the 2020 presentation. Aggregate core deposit intangible amortization expense was $223 and $227 for the three months ended September 30, 2021 and 2020, respectively, and $668 and $686 for the nine-months ended September 30, 2021 and 2020, respectively. Activity for mortgage servicing rights (MSRs) and the related valuation allowance for the three- and nine-month periods ended September 30, 2021 and September 30, 2020 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Loan Servicing Rights: Balance at Beginning of Period $ 2,745 $ 1,717 $ 2,246 $ 1,562 Additions 164 381 562 924 Disposals — — — — Amortized to expense (144 ) (135 ) (436 ) (361 ) Other charges — — — — Change in valuation allowance (189 ) 25 204 (137 ) Balance at End of Period $ 2,576 $ 1,988 $ 2,576 $ 1,988 Valuation allowance: Balance at Beginning of Period $ (189 ) $ 264 $ 204 $ 102 Additions expensed 189 — 261 162 Reductions credited to operations — (25 ) (465 ) (25 ) Direct write-offs — — — — Balance at End of Period $ — $ 239 $ — $ 239 Estimated amortization expense for each of the next five years and thereafter is as follows: MSRs Core deposit intangibles Total 2021 $ 33 $ 223 $ 256 2022 134 868 1,002 2023 133 841 974 2024 133 804 937 2025 132 708 840 Thereafter 2,011 1,718 3,729 $ 2,576 $ 5,162 $ 7,738 |
Short-Term and Other Borrowings
Short-Term and Other Borrowings | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Short-Term and Other Borrowings | (8) Short-Term and Other Borrowings Short-term and other borrowings, which consist of federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings, are summarized as follows: At September 30, 2021 At December 31, 2020 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Outstanding balance $ — $ — $ — $ — Interest rate on balance — — — — Three Months Ended September 30, Nine Months Ended September 30, 2021 2021 2020 2020 2021 2021 2020 2020 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Maximum indebtedness $ — $ — $ 35,000 $ — $ — $ — $ 50,000 $ 102,700 Average balance — — 543 — — — 385 10,888 Average rate paid — — (1.47 )% — — — 0.35 % 1.64 % Average balance during the period represents daily averages. Average rate paid represents interest expense divided by the related average balances. These borrowing transactions can range from overnight to six months in maturity. The average maturity was one day at September 30, 2021. 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 September 30, 2021 and December 31, 2020. All of the repurchase agreements are overnight agreements. September 30, 2021 December 31, 2020 Securities pledged for repurchase agreements: U.S. Treasury securities $ 7,656 $ 899 Obligations of U.S. government agencies 15,675 28,015 Total securities pledged $ 23,331 $ 28,914 Gross amount of recognized liabilities for repurchase agreements $ 23,331 $ 28,914 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Earnings per Common Share
Earnings per Common Share | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | (9) Earnings per Common Share The Company has granted restricted stock awards with non-forfeitable rights, which are considered participating securities. Accordingly, earnings per share is computed using the two-class method as required by ASC 260-10-45. Basic earnings per common share are computed as net income available to common shareholders divided by the weighted average number of common shares outstanding during the period, which excludes the participating securities. Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the Company’s equity incentive plan, computed using the treasury stock method. The Company had no dilutive securities for the three- and nine-months ended September 30, 2021 and 2020. Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Basic Net income $ 9,642 $ 7,682 $ 29,564 $ 22,019 Less allocation of earnings and dividends to participating securities 46 26 122 64 Net income available to common shareholders—basic $ 9,596 $ 7,656 $ 29,442 $ 21,955 Weighted average common shares outstanding 15,168,233 16,045,544 15,543,488 16,201,898 Less average participating securities 72,071 54,274 64,064 47,246 Weighted average number of shares outstanding used in the calculation of basic earnings per common share 15,096,162 15,991,270 15,479,424 16,154,652 Earnings per common share: Basic $ 0.64 $ 0.48 $ 1.90 $ 1.36 Diluted 0.64 0.48 1.90 1.36 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. |
Commitments, Contingencies and
Commitments, Contingencies and Off-Balance Sheet Risk | 9 Months Ended |
Sep. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Off-Balance Sheet Risk | (10) 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 customers’ financing needs. These are agreements to provide credit or to support the credit of others, as long as the conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk of 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 commitment. The contractual amounts of financial instruments with off-balance-sheet risk were as follows at September 30, 2021 and December 31, 2020: Contract Amount September 30, 2021 December 31, 2020 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitment to extend credit: Lines of credit and construction loans $ 31,205 $ 465,902 $ 38,474 $ 427,864 Overdraft protection 7 42,925 6 41,707 Letters of credit 615 885 615 986 $ 31,827 $ 509,712 $ 39,095 $ 470,557 Commitments to make loans are generally made for a period of one year or less. Fixed rate loan commitments included in the table above had interest rates ranging from 3.50% to 8.00% at September 30, 2021 and from 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 reserve balance maintained in accordance with such requirements was $0 on September 30, 2021 and December 31, 2020. |
Pension Information
Pension Information | 9 Months Ended |
Sep. 30, 2021 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension Information | (11) Pension Information The Company sponsors a pension plan which is a noncontributory defined benefit retirement plan. 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 2014, the Company amended the pension plan again to provide that no additional benefits would accrue beyond April 30, 2014. Net periodic pension cost was as follows: Three months ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Service cost $ — $ — $ — $ — Interest cost 95 121 285 363 Expected return on plan assets (160 ) (187 ) (480 ) (561 ) Other components 81 72 244 217 Net periodic pension cost $ 16 $ 6 $ 49 $ 19 The Company does not expect to make any contribution to its pension plan in 2021. The Company made no contribution to its pension plan in 2020. |
Equity Incentive Plan
Equity Incentive Plan | 9 Months Ended |
Sep. 30, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity Incentive Plan | (12) 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 151,892 shares available for future grants under this plan at September 30, 2021. No options were granted under the 2014 Incentive Plan during the periods ended September 30, 2021 and 2020. Each year, the Board of Directors has awarded restricted common shares to senior officers of the Company. The restricted shares vest ratably over a three-year five-year On May 28, 2021, 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 of 8,792 common shares were issued to Civista directors as payment of their retainer for their service on the Civista Board of Directors covering the period up to the 2022 Annual Meeting. This issuance was expensed in its entirety when the shares were issued in the amount of $196. The Company classifies share-based compensation for employees with “Compensation expense” in the Consolidated Statements of Operations. The following is a summary of the Company’s outstanding restricted shares and changes therein for the three- and nine-month periods ended September 30, 2021: Three months ended Nine Months Ended September 30, 2021 September 30, 2021 Number of Restricted Shares Weighted Average Grant Date Fair Value Number of Restricted Shares Weighted Average Grant Date Fair Value Nonvested at beginning of period 72,071 $ 20.13 54,274 $ 20.90 Granted — — 39,139 19.17 Vested — — (20,275 ) 20.35 Forfeited — — (1,067 ) 19.56 Nonvested at end of period 72,071 $ 20.13 72,071 $ 20.13 The following is a summary of the status of the Company’s outstanding restricted shares as of September 30, 2021: At September 30, 2021 Date of Award Shares Remaining Expense Remaining Vesting Period (Years) March 20, 2017 1,198 $ 6 0.25 April 10, 2018 3,114 41 1.25 March 14, 2019 3,401 16 0.25 March 14, 2019 6,560 89 2.25 March 14, 2020 9,139 114 1.25 March 14, 2020 10,390 160 3.25 March 3, 2021 16,277 243 4.25 March 3, 2021 21,992 323 2.25 72,071 $ 992 2.55 The Company recorded $132 and $99, of share-based compensation expense during the three months ended September 30, 2021 and 2020, respectively. During the nine months ended September 30, 2021 and 2020, $392 and $322 of share-based compensation expense was recorded, respectively. The Company recorded $196 of director retainer fees for shares granted under the 2014 Incentive Plan during the nine months ended September 30, 2021. At September 30, 2021, the total compensation cost related to unvested awards not yet recognized is $922, which is expected to be recognized over the weighted average remaining life of the grants of 2.55 years. |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | (13) Fair Value Measurement The Company uses a fair value hierarchy to measure fair value. This hierarchy describes three levels of inputs that may be used to measure fair value: 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; and Level 3: Significant unobservable inputs that reflect the Company’s own view about the assumptions that market participants would use in pricing an asset. Debt securities: Equity securities: The fair value of the swap asset/liability: Mortgage servicing rights: Impaired loans: Assets and liabilities measured at fair value are summarized in the table below. Fair Value Measurements at September 30, 2021 Using: Assets: (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 $ — $ 53,277 $ — Obligations of states and political subdivisions — 256,715 — Mortgage-backed securities in government sponsored entities — 188,157 — Total securities available for sale — 498,149 — Equity securities — 1,077 — Swap asset — 12,858 — Liabilities measured at fair value on a recurring basis: Swap liability $ — $ 12,858 $ — Assets measured at fair value on a nonrecurring basis: Mortgage Servicing Rights $ — $ — $ 2,576 Impaired loans — — 11 Other real estate owned — — 26 Fair Value Measurements at December 31, 2020 Using: Assets: (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 $ — $ 21,693 $ — Obligations of states and political subdivisions — 229,012 — Mortgage-backed securities in government sponsored entities — 112,759 — Total securities available for sale — 363,464 — Equity securities — 886 — Swap asset — 21,700 — Liabilities measured at fair value on a recurring basis: Swap liability — 21,764 — Assets measured at fair value on a nonrecurring basis: Mortgage Servicing Rights $ — $ — $ 2,246 Impaired loans — — 1 Other real estate owned — — 31 The following tables present quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis as of September 30, 2021 and December 31, 2020. Quantitative Information about Level 3 Fair Value Measurements September 30, 2021 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 11 Appraisal of collateral Appraisal adjustments 10% 10% Holding period 24 Months 24 Months Other real estate owned $ 26 Appraisal of collateral Appraisal adjustments 10% 10% Mortgage Servicing Rights $ 2,576 Discounted Cash Flow Constant Prepayment Rate 8.7% - 35% 16% Discount Rate 12% 12% 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 collateral Appraisal adjustments 0% - 30% 19% Holding period 23 months 23 months Other real estate owned $ 31 Appraisal of collateral Appraisal adjustments 10% 10% Mortgage Servicing Rights $ 2,246 Discounted Cash Flow Constant Prepayment Rate 12% - 50% 22% Discount Rate 12% 12% The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at September 30, 2021 were as follows: September 30, 2021 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 253,165 $ 253,165 $ 253,165 $ — $ — Other securities 17,011 17,011 17,011 — — Loans, held for sale 5,810 5,926 5,926 — — Loans, net of allowance 1,978,246 1,996,174 — — 1,996,174 Bank owned life insurance 46,728 46,728 46,728 — — Accrued interest receivable 7,728 7,728 7,728 — — Financial Liabilities: Nonmaturing deposits 2,181,931 2,181,931 2,181,931 — — Time deposits 252,835 253,643 — — 253,643 Long-term FHLB advances 75,000 76,617 — — 76,617 Securities sold under agreement to repurchase 23,331 23,331 23,331 — — Subordinated debentures 29,427 29,534 — — 29,534 Accrued interest payable 115 115 115 — — The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at December 31, 2020 were as follows: 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 2,032,474 2,063,249 — — 2,063,249 Bank owned life insurance 45,976 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 — — |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives | (14) 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. None of the Company’s derivatives are designated as hedging instruments. The following table summarizes the Company’s interest rate swap positions as of September 30, 2021. Classification on the Consolidated Balance Sheet Notional Amount Fair Value Derivative Assets Swap assets $ 239,230 $ 12,858 Derivative Liabilities Swap liabilities (239,230 ) (12,858 ) Net Exposure $ — $ — The following table summarizes the Company’s interest rate swap positions as of December 31, 2020. Classification on the Consolidated Balance Sheet Notional Amount Fair Value Derivative Assets Swap assets $ 244,748 $ 21,700 Derivative Liabilities Swap liabilities (244,748 ) (21,764 ) Net Exposure $ — $ (64 ) The Company monitors and controls all derivative products with a comprehensive Board of Director approved commercial loan swap policy. All interest rate swap 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 fair value of derivatives with “Other” in the Consolidated Statements of Operation. At September 30, 2021, the Company had cash and securities with a fair value of $7,000 and $7,035, respectively, pledged for collateral on its interest rate swaps with third party financial institutions. At December 31, 2020, the Company had cash and securities with a fair value of $11,300 and $11,705, respectively, pledged as collateral. Cash pledged for collateral on interest rate swaps is classified as restricted cash on the Consolidated Balance Sheet. |
Qualified Affordable Housing Pr
Qualified Affordable Housing Project Investments | 9 Months Ended |
Sep. 30, 2021 | |
Federal Home Loan Banks [Abstract] | |
Qualified Affordable Housing Project Investments | (15) Qualified Affordable Housing Project Investments The Company invests in certain qualified affordable housing projects. At September 30, 2021 and December 31, 2020, the balance of the investment for qualified affordable housing projects was $13,303 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 $6,629 and $5,944 at September 30, 2021 and December 31, 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 commitments of $5,944. During the three months ended September 30, 2021 and 2020, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $203 and $156, respectively, offset by tax credits and other benefits from its investment in affordable housing tax credits of $339 and $304, respectively. During the nine months ended September 30, 2021 and 2020, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $608 and $489, respectively, offset by tax credits and other benefits from its investment in affordable housing tax credits of $1,015 and $888, respectively. During the three- and nine-months ended September 30, 2021 and 2020, the Company did not incur any impairment losses related to its investments in qualified affordable housing projects. |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2021 | |
Revenue From Contract With Customer [Abstract] | |
Revenue Recognition | (16) Revenue Recognition The Company accounts for revenues from contracts with customers under ASC 606, Revenue from Contracts with Customers 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 three- and nine-months ended September 30, 2021 and 2020. Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Noninterest Income In-scope of Topic 606: Service charges $ 1,519 $ 1,414 $ 4,092 $ 3,812 ATM/Interchange fees 1,330 1,183 3,950 3,226 Wealth management fees 1,236 1,006 3,570 2,916 Tax refund processing fees — — 2,375 2,375 Other 267 214 944 633 Noninterest Income (in-scope of Topic 606) 4,352 3,817 14,931 12,962 Noninterest Income (out-of-scope of Topic 606) 2,074 2,969 9,710 7,554 Total Noninterest Income $ 6,426 $ 6,786 $ 24,641 $ 20,516 |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Allowance for Loan Losses | Allowance for Loan Losses: The allowance for loan losses is regularly reviewed by management to determine that the amount is considered adequate to absorb probable losses in the loan portfolio. If not, an additional provision is made to increase the allowance. This evaluation includes specific loss estimates on certain individually reviewed impaired loans, the pooling of commercial credits risk graded as special mention and substandard that are not individually analyzed, and general loss estimates that are based upon the size, quality, and concentration characteristics of the various loan portfolios, adverse situations that may affect a borrower’s ability to repay, and current economic and industry conditions, among other items. Those judgments and assumptions that are most critical to the application of this accounting policy are assessing the initial and on-going credit-worthiness of the borrower, the amount and timing of future cash flows of the borrower that are available for repayment of the loan, the sufficiency of underlying collateral, the enforceability of third-party guarantees, the frequency and subjectivity of loan reviews and risk ratings, emerging or changing trends that might not be fully captured in the historical loss experience, and charges against the allowance for actual losses that are greater than previously estimated. These judgments and assumptions are dependent upon or can be influenced by a variety of factors, including the breadth and depth of experience of lending officers, credit administration and the corporate loan review staff that periodically review the status of the loan, changing economic and industry conditions, changes in the financial condition of the borrower and changes in the value and availability of the underlying collateral and guarantees. |
Use of Estimates | Use of Estimates |
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 (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) 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 The amendments to Topic 825 were to be effective for interim and annual reporting periods beginning after December 15, 2019. Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) This Update is not expected to have a material impact on the Company’s financial statements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses, Topic 326 Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) 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 periods within those years. Other amendments are effective upon issuance of this ASU. This Update is not expected to have a significant impact on the Company’s financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Other recent ASU’s issued by the FASB did not, or are not believed by management to have, a material effect on the Company’s present or future Consolidated Financial Statements. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Available for Sale Securities | The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized were as follows: September 30, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 53,247 $ 186 $ (156 ) $ 53,277 Obligations of states and political subdivisions 240,179 17,086 (550 ) 256,715 Mortgage-backed securities in government sponsored entities 184,553 3,974 (370 ) 188,157 Total debt securities $ 477,979 $ 21,246 $ (1,076 ) $ 498,149 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 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-backed 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 September 30, 2021, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available for sale Amortized Cost Fair Value Due in one year or less $ 9,132 $ 9,172 Due after one year through five years 31,533 31,732 Due after five years through ten years 45,283 47,236 Due after ten years 207,478 221,852 Mortgage-backed securities 184,553 188,157 Total securities available for sale $ 477,979 $ 498,149 |
Proceeds from Sales of Securities Available for Sale, Gross Realized Gains and Losses | Proceeds from sales of securities available for sale, gross realized gains and gross realized losses were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Sale proceeds $ — $ 1,455 $ 1,785 $ 1,455 Gross realized gains — 94 1,785 94 Gross realized losses — — — — Gains (losses) from securities called or settled by the issuer 4 (2 ) 2 (2 ) |
Securities with Unrealized Losses Not Recognized in Income | Securities with unrealized losses at September 30, 2021 and December 31, 2020 not recognized in income are set forth in the tables below, segregated by securities with maturities of 12 months or less and securities with maturities of more than 12 months: September 30, 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 $ 23,327 $ (119 ) $ 2,048 $ (37 ) $ 25,375 $ (156 ) Obligations of states and political subdivisions 36,646 (550 ) — — 36,646 (550 ) Mortgage-backed securities in gov’t sponsored entities 72,464 (282 ) 3,521 (88 ) 75,985 (370 ) Total temporarily impaired $ 132,437 $ (951 ) $ 5,569 $ (125 ) $ 138,006 $ (1,076 ) December 31, 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 for the three- and nine-months ended September 30, 2021 and 2020, and the portion of unrealized gains and losses for the period that relates to equity investments held at September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net gains (losses) recognized on equity securities during the period $ 50 $ 20 $ 191 $ (126 ) Less: Net losses realized on the sale of equity securities during the period — — — 6 Unrealized gains (losses) recognized on equity securities held at reporting date $ 50 $ 20 $ 191 $ (120 ) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loan Balances | Loan balances were as follows: September 30, 2021 December 31, 2020 Commercial & Agriculture $ 276,741 $ 409,876 Commercial Real Estate- Owner Occupied 292,725 278,413 Commercial Real Estate- Non-Owner Occupied 788,898 705,072 Residential Real Estate 424,553 442,588 Real Estate Construction 179,491 175,609 Farm Real Estate 30,147 33,102 Consumer and Other 12,259 12,842 Total loans 2,004,814 2,057,502 Allowance for loan losses (26,568 ) (25,028 ) Net loans $ 1,978,246 $ 2,032,474 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Changes in the Allowance for Loan Losses | The following tables present, by portfolio segment, the changes in the allowance for loan losses for the three- and nine-months ended September 30, 2021 and 2020 . Allowance for loan losses: For the three months ended September 30, 2021 Beginning Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,320 $ — $ 1 $ 191 $ 2,512 Commercial Real Estate: Owner Occupied 4,027 — — 389 4,416 Non-Owner Occupied 13,546 — 381 (757 ) 13,170 Residential Real Estate 2,531 (77 ) 53 89 2,596 Real Estate Construction 2,177 — — 282 2,459 Farm Real Estate 290 — 3 15 308 Consumer and Other 202 — 10 — 212 Unallocated 1,104 — — (209 ) 895 Total $ 26,197 $ (77 ) $ 448 $ — $ 26,568 Allowance for loan losses: For the three months ended September 30, 2020 Beginning balance Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,799 $ — $ 1 $ (139 ) $ 2,661 Commercial Real Estate: Owner Occupied 3,411 (147 ) 6 685 3,955 Non-Owner Occupied 9,169 — 3 1,406 10,578 Residential Real Estate 2,434 (11 ) 117 (83 ) 2,457 Real Estate Construction 1,844 — 1 500 2,345 Farm Real Estate 361 — 3 (4 ) 360 Consumer and Other 247 (27 ) 21 (21 ) 220 Unallocated 155 — — (94 ) 61 Total $ 20,420 $ (185 ) $ 152 $ 2,250 $ 22,637 Allowance for loan losses: For the nine months ended September 30, 2021 Beginning balance Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,810 $ (15 ) $ 164 $ (447 ) $ 2,512 Commercial Real Estate: Owner Occupied 4,057 — 6 353 4,416 Non-Owner Occupied 12,451 — 392 327 13,170 Residential Real Estate 2,484 (114 ) 232 (6 ) 2,596 Real Estate Construction 2,439 — 1 19 2,459 Farm Real Estate 338 — 9 (39 ) 308 Consumer and Other 209 (19 ) 54 (32 ) 212 Unallocated 240 — — 655 895 Total $ 25,028 $ (148 ) $ 858 $ 830 $ 26,568 Allowance for loan losses: For the nine months ended September 30, 2020 Beginning balance Charge-offs Recoveries Provision Ending Balance Commercial & Agriculture $ 2,219 $ (15 ) $ 5 $ 452 $ 2,661 Commercial Real Estate: Owner Occupied 2,541 (148 ) 20 1,542 3,955 Non-Owner Occupied 6,584 — 44 3,950 10,578 Residential Real Estate 1,582 (108 ) 196 787 2,457 Real Estate Construction 1,250 — 3 1,092 2,345 Farm Real Estate 344 — 10 6 360 Consumer and Other 247 (54 ) 55 (28 ) 220 Unallocated — — — 61 61 Total $ 14,767 $ (325 ) $ 333 $ 7,862 $ 22,637 The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of September 30, 2021 and December 31, 2020. September 30, 2021 Loans acquired with credit deterioration Loans individually evaluated for impairment Loans collectively evaluated for impairment Total Allowance for loan losses: Commercial & Agriculture $ — $ — $ 2,512 $ 2,512 Commercial Real Estate: Owner Occupied — 55 4,361 4,416 Non-Owner Occupied — — 13,170 13,170 Residential Real Estate — 18 2,578 2,596 Real Estate Construction — — 2,459 2,459 Farm Real Estate — — 308 308 Consumer and Other — — 212 212 Unallocated — — 895 895 Total $ — $ 73 $ 26,495 $ 26,568 Outstanding loan balances: Commercial & Agriculture $ — $ — $ 276,741 $ 276,741 Commercial Real Estate: Owner Occupied — 205 292,520 292,725 Non-Owner Occupied — — 788,898 788,898 Residential Real Estate 296 545 423,712 424,553 Real Estate Construction — — 179,491 179,491 Farm Real Estate — 522 29,625 30,147 Consumer and Other — — 12,259 12,259 Total $ 296 $ 1,272 $ 2,003,246 $ 2,004,814 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 | September 30, 2021 Pass Special Mention Substandard Doubtful Ending Balance Commercial & Agriculture $ 273,617 $ 1,700 $ 1,424 $ — $ 276,741 Commercial Real Estate: Owner Occupied 279,409 5,120 8,196 — 292,725 Non-Owner Occupied 706,117 45,334 37,447 — 788,898 Residential Real Estate 75,337 266 4,387 — 79,990 Real Estate Construction 162,772 268 457 — 163,497 Farm Real Estate 28,711 206 1,230 — 30,147 Consumer and Other 913 — 21 — 934 Total $ 1,526,876 $ 52,894 $ 53,162 $ — $ 1,632,932 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 | 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 six months. September 30, 2021 Residential Real Estate Real Estate Construction Consumer and Other Total Performing $ 344,563 $ 15,994 $ 11,325 $ 371,882 Nonperforming — — — — Total $ 344,563 $ 15,994 $ 11,325 $ 371,882 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 | The following tables include an aging analysis of the recorded investment of past due loans outstanding as of September 30, 2021 and December 31, 2020. September 30, 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 $ 400 $ — $ — $ 400 $ 276,341 $ — $ 276,741 $ — Commercial Real Estate: Owner Occupied — 10 575 585 292,140 — 292,725 430 Non-Owner Occupied — — 4 4 788,894 — 788,898 — Residential Real Estate 147 248 766 1,161 423,096 296 424,553 — Real Estate Construction — — — — 179,491 — 179,491 — Farm Real Estate — — — — 30,147 — 30,147 — Consumer and Other 87 4 9 100 12,159 — 12,259 — Total $ 634 $ 262 $ 1,354 $ 2,250 $ 2,002,268 $ 296 $ 2,004,814 $ 430 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 September 30, 2021 and December 31, 2020. September 30, 2021 December 31, 2020 Commercial & Agriculture $ — $ 139 Commercial Real Estate: Owner Occupied 359 964 Non-Owner Occupied 4 6 Residential Real Estate 3,129 3,893 Real Estate Construction 6 7 Farm Real Estate — 85 Consumer and Other 21 31 Total $ 3,519 $ 5,125 |
Impaired Loans Excluding Purchased-Credit Impaired ("PCI") Loans | The following table includes the recorded investment and unpaid principal balances for impaired loans, excluding PCI loans, with the associated allowance amount, if applicable, as of September 30, 2021 and December 31, 2020. September 30, 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 $ 12 $ 12 $ 757 $ 757 Non-Owner Occupied — — 48 48 Residential Real Estate 514 539 915 940 Farm Real Estate 522 522 618 618 Total 1,048 1,073 2,338 2,363 With an allowance recorded: Commercial & Agriculture — — $ — 74 74 $ 73 Commercial Real Estate: Owner Occupied 193 193 55 223 223 5 Residential Real Estate 31 34 18 31 35 29 Total 224 227 73 328 332 107 Total: Commercial & Agriculture — — — 74 74 73 Commercial Real Estate: Owner Occupied 205 205 55 980 980 5 Non-Owner Occupied — — — 48 48 — Residential Real Estate 545 573 18 946 975 29 Farm Real Estate 522 522 — 618 618 — Total $ 1,272 $ 1,300 $ 73 $ 2,666 $ 2,695 $ 107 The following table includes the average recorded investment and interest income recognized for impaired financing receivables for the three- and nine-month periods ended September 30, 2021 and 2020. September 30, 2021 September 30, 2020 For the three months ended Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial Real Estate—Owner Occupied $ 252 $ 4 $ 391 $ 7 Commercial Real Estate—Non-Owner Occupied 15 — 212 5 Residential Real Estate 551 8 1,175 10 Farm Real Estate 557 6 644 7 Total $ 1,375 $ 18 $ 2,422 $ 29 September 30, 2021 September 30, 2020 For the nine months ended Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial & Agriculture $ 19 $ — $ 92 $ 4 Commercial Real Estate—Owner Occupied 449 15 406 21 Commercial Real Estate—Non-Owner Occupied 29 1 292 15 Residential Real Estate 654 24 1,464 34 Farm Real Estate 584 18 655 20 Total $ 1,735 $ 58 $ 2,909 $ 94 |
Schedule of Changes in Accretable Yield for PCI Loans | Changes in the accretable yield for PCI loans were as follows, since acquisition: For the Three-Month Period Ended September 30, 2021 For the Three-Month Period Ended September 30, 2020 (In Thousands) (In Thousands) Balance at beginning of period $ 224 $ 205 Acquisition of PCI loans — — Accretion (6 ) (101 ) Transfer from non-accretable to accretable — 74 Balance at end of period $ 218 $ 178 For the Nine-Month Period Ended September 30, 2021 For the Nine-Month Period Ended September 30, 2020 (In Thousands) (In Thousands) Balance at beginning of period $ 225 $ 255 Acquisition of PCI loans — — Accretion (62 ) (270 ) Transfer from non-accretable to accretable 55 193 Balance at end of period $ 218 $ 178 |
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 September 30, 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 $ 525 $ 687 Carrying amount 296 388 |
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 Loans Balance Percent of Loans Outstanding (In thousands) Commercial & Agriculture 6 $ 1,571 0.08 % Commercial Real Estate: Owner Occupied 2 2,591 0.13 % Non-Owner Occupied 9 14,174 0.71 % Real Estate Construction 1 451 0.02 % Total 18 $ 18,787 0.94 % |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net of Tax | The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax for the three month periods ended September 30, 2021 and September 30, 2020. For the Three-Month Period Ended For the Three-Month Period Ended September 30, 2021(a) September 30, 2020(a) Unrealized Gains and (Losses) on Available-for- Sale Securities (a) Defined Benefit Pension Items (a) Total (a) Unrealized Gains and (Losses) on Available-for- Sale Securities (a) Defined Benefit Pension Items (a) Total (a) Beginning balance $ 18,392 $ (6,699 ) $ 11,693 $ 19,549 $ (5,895 ) $ 13,654 Other comprehensive income (loss) before reclassifications (2,455 ) — (2,455 ) 749 — 749 Amounts reclassified from accumulated other comprehensive income (loss) (4 ) 64 60 (73 ) 57 (16 ) Net current-period other comprehensive income (loss) (2,459 ) 64 (2,395 ) 676 57 733 Ending balance $ 15,933 $ (6,635 ) $ 9,298 $ 20,225 $ (5,838 ) $ 14,387 (a) Amounts in parentheses indicate debits on the Consolidated Balance Sheets. The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax for the nine month periods ended September 30, 2021 and September 30, 2020. For the Nine-Month Period Ended For the Nine-Month Period Ended September 30, 2021(a) September 30, 2020(a) Unrealized Gains and (Losses) on Available-for- Sale Securities (a) Defined Benefit Pension Items (a) Total (a) Unrealized Gains and (Losses) on Available-for- Sale Securities (a) Defined Benefit Pension Items (a) Total (a) Beginning balance $ 21,447 $ (6,828 ) $ 14,619 $ 12,883 $ (6,009 ) $ 6,874 Other comprehensive income (loss) before reclassifications (5,512 ) — (5,512 ) 7,415 — 7,415 Amounts reclassified from accumulated other comprehensive income (loss) (2 ) 193 191 (73 ) 171 98 Net current-period other comprehensive income (loss) (5,514 ) 193 (5,321 ) 7,342 171 7,513 Ending balance $ 15,933 $ (6,635 ) $ 9,298 $ 20,225 $ (5,838 ) $ 14,387 (a) Amounts in parentheses indicate debits on the Consolidated Balance Sheets |
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) | The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three month periods ended September 30, 2021 and September 30, 2020. Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (a) Details about Accumulated Other Comprehensive Income (Loss) Components For the Three months ended September 30, 2021 For the Three months ended September 30, 2020 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains on available-for-sale securities $ 4 $ 92 Net gain on sale of securities Tax effect — (19 ) Income tax expense 4 73 Amortization of defined benefit pension items Actuarial gains/(losses) (b) (81 ) (72 ) Other operating expenses Tax effect 17 15 Income tax expense (64 ) (57 ) Total reclassifications for the period $ (60 ) $ 16 (a) Amounts in parentheses indicate expenses/losses and other amounts indicate income/benefit. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the nine month periods ended September 30, 2021 and September 30, 2020. Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (a) Details about Accumulated Other Comprehensive Income (Loss) Components For the Nine months ended September 30, 2021 For the Nine months ended September 30, 2020 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains on available-for-sale securities $ 2 $ 92 Net gain on sale of securities Tax effect — (19 ) Income tax expense 2 73 Amortization of defined benefit pension items Actuarial gains/(losses) (b) (244 ) (217 ) Other operating expenses Tax effect 51 46 Income tax expense (193 ) (171 ) Total reclassifications for the period $ (191 ) $ (98 ) (a) Amounts in parentheses indicate expenses/losses and other amounts indicate income/benefit. (b) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Acquired Intangible Assets, Other than Goodwill | Acquired intangible assets, other than goodwill, as of September 30, 2021 and December 31, 2020 were as follows: 2021 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets(1): Core deposit intangibles $ 8,527 $ 3,365 $ 5,162 $ 8,527 $ 2,698 $ 5,829 Total amortized intangible assets $ 8,527 $ 3,365 $ 5,162 $ 8,527 $ 2,698 $ 5,829 (1) Excludes fully amortized intangible assets. Certain fully amortized assets were removed from the 2020 presentation. |
Schedule of Mortgage Servicing Rights (MSRs) and Related Valuation Allowance | Activity for mortgage servicing rights (MSRs) and the related valuation allowance for the three- and nine-month periods ended September 30, 2021 and September 30, 2020 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Loan Servicing Rights: Balance at Beginning of Period $ 2,745 $ 1,717 $ 2,246 $ 1,562 Additions 164 381 562 924 Disposals — — — — Amortized to expense (144 ) (135 ) (436 ) (361 ) Other charges — — — — Change in valuation allowance (189 ) 25 204 (137 ) Balance at End of Period $ 2,576 $ 1,988 $ 2,576 $ 1,988 Valuation allowance: Balance at Beginning of Period $ (189 ) $ 264 $ 204 $ 102 Additions expensed 189 — 261 162 Reductions credited to operations — (25 ) (465 ) (25 ) Direct write-offs — — — — Balance at End of Period $ — $ 239 $ — $ 239 |
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 2021 $ 33 $ 223 $ 256 2022 134 868 1,002 2023 133 841 974 2024 133 804 937 2025 132 708 840 Thereafter 2,011 1,718 3,729 $ 2,576 $ 5,162 $ 7,738 |
Short-Term and Other Borrowin_2
Short-Term and Other Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Summary of Federal Funds Purchased, Securities Sold Under Agreements to Repurchase and Other Short-term Borrowings | Short-term and other borrowings, which consist of federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings, are summarized as follows: At September 30, 2021 At December 31, 2020 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Outstanding balance $ — $ — $ — $ — Interest rate on balance — — — — Three Months Ended September 30, Nine Months Ended September 30, 2021 2021 2020 2020 2021 2021 2020 2020 Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Federal Funds Purchased Short-term Borrowings Maximum indebtedness $ — $ — $ 35,000 $ — $ — $ — $ 50,000 $ 102,700 Average balance — — 543 — — — 385 10,888 Average rate paid — — (1.47 )% — — — 0.35 % 1.64 % |
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 September 30, 2021 and December 31, 2020. All of the repurchase agreements are overnight agreements. September 30, 2021 December 31, 2020 Securities pledged for repurchase agreements: U.S. Treasury securities $ 7,656 $ 899 Obligations of U.S. government agencies 15,675 28,015 Total securities pledged $ 23,331 $ 28,914 Gross amount of recognized liabilities for repurchase agreements $ 23,331 $ 28,914 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Common Share | Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the Company’s equity incentive plan, computed using the treasury stock method. The Company had no dilutive securities for the three- and nine-months ended September 30, 2021 and 2020. Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Basic Net income $ 9,642 $ 7,682 $ 29,564 $ 22,019 Less allocation of earnings and dividends to participating securities 46 26 122 64 Net income available to common shareholders—basic $ 9,596 $ 7,656 $ 29,442 $ 21,955 Weighted average common shares outstanding 15,168,233 16,045,544 15,543,488 16,201,898 Less average participating securities 72,071 54,274 64,064 47,246 Weighted average number of shares outstanding used in the calculation of basic earnings per common share 15,096,162 15,991,270 15,479,424 16,154,652 Earnings per common share: Basic $ 0.64 $ 0.48 $ 1.90 $ 1.36 Diluted 0.64 0.48 1.90 1.36 |
Commitments, Contingencies an_2
Commitments, Contingencies and Off-Balance Sheet Risk (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contractual Amounts of Financial Instruments with Off-Balance-Sheet Risk | The contractual amounts of financial instruments with off-balance-sheet risk were as follows at September 30, 2021 and December 31, 2020: Contract Amount September 30, 2021 December 31, 2020 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitment to extend credit: Lines of credit and construction loans $ 31,205 $ 465,902 $ 38,474 $ 427,864 Overdraft protection 7 42,925 6 41,707 Letters of credit 615 885 615 986 $ 31,827 $ 509,712 $ 39,095 $ 470,557 |
Pension Information (Tables)
Pension Information (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Compensation And Retirement Disclosure [Abstract] | |
Components of Net Periodic Pension Cost | Net periodic pension cost was as follows: Three months ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Service cost $ — $ — $ — $ — Interest cost 95 121 285 363 Expected return on plan assets (160 ) (187 ) (480 ) (561 ) Other components 81 72 244 217 Net periodic pension cost $ 16 $ 6 $ 49 $ 19 |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Company's Outstanding Restricted Stock | The following is a summary of the Company’s outstanding restricted shares and changes therein for the three- and nine-month periods ended September 30, 2021: Three months ended Nine Months Ended September 30, 2021 September 30, 2021 Number of Restricted Shares Weighted Average Grant Date Fair Value Number of Restricted Shares Weighted Average Grant Date Fair Value Nonvested at beginning of period 72,071 $ 20.13 54,274 $ 20.90 Granted — — 39,139 19.17 Vested — — (20,275 ) 20.35 Forfeited — — (1,067 ) 19.56 Nonvested at end of period 72,071 $ 20.13 72,071 $ 20.13 The following is a summary of the status of the Company’s outstanding restricted shares as of September 30, 2021: At September 30, 2021 Date of Award Shares Remaining Expense Remaining Vesting Period (Years) March 20, 2017 1,198 $ 6 0.25 April 10, 2018 3,114 41 1.25 March 14, 2019 3,401 16 0.25 March 14, 2019 6,560 89 2.25 March 14, 2020 9,139 114 1.25 March 14, 2020 10,390 160 3.25 March 3, 2021 16,277 243 4.25 March 3, 2021 21,992 323 2.25 72,071 $ 992 2.55 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value | Assets and liabilities measured at fair value are summarized in the table below. Fair Value Measurements at September 30, 2021 Using: Assets: (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 $ — $ 53,277 $ — Obligations of states and political subdivisions — 256,715 — Mortgage-backed securities in government sponsored entities — 188,157 — Total securities available for sale — 498,149 — Equity securities — 1,077 — Swap asset — 12,858 — Liabilities measured at fair value on a recurring basis: Swap liability $ — $ 12,858 $ — Assets measured at fair value on a nonrecurring basis: Mortgage Servicing Rights $ — $ — $ 2,576 Impaired loans — — 11 Other real estate owned — — 26 Fair Value Measurements at December 31, 2020 Using: Assets: (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 $ — $ 21,693 $ — Obligations of states and political subdivisions — 229,012 — Mortgage-backed securities in government sponsored entities — 112,759 — Total securities available for sale — 363,464 — Equity securities — 886 — Swap asset — 21,700 — Liabilities measured at fair value on a recurring basis: Swap liability — 21,764 — Assets measured at fair value on a nonrecurring basis: Mortgage Servicing Rights $ — $ — $ 2,246 Impaired loans — — 1 Other real estate owned — — 31 |
Quantitative Information about Level 3 Fair Value Measurements | The following tables present quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis as of September 30, 2021 and December 31, 2020. Quantitative Information about Level 3 Fair Value Measurements September 30, 2021 Fair Value Valuation Technique Unobservable Input Range Weighted Average Impaired loans $ 11 Appraisal of collateral Appraisal adjustments 10% 10% Holding period 24 Months 24 Months Other real estate owned $ 26 Appraisal of collateral Appraisal adjustments 10% 10% Mortgage Servicing Rights $ 2,576 Discounted Cash Flow Constant Prepayment Rate 8.7% - 35% 16% Discount Rate 12% 12% 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 collateral Appraisal adjustments 0% - 30% 19% Holding period 23 months 23 months Other real estate owned $ 31 Appraisal of collateral Appraisal adjustments 10% 10% Mortgage Servicing Rights $ 2,246 Discounted Cash Flow Constant Prepayment Rate 12% - 50% 22% Discount Rate 12% 12% |
Carrying Amount and Fair Value of Financial Instruments Carried at Amortized Cost | The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at September 30, 2021 were as follows: September 30, 2021 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 253,165 $ 253,165 $ 253,165 $ — $ — Other securities 17,011 17,011 17,011 — — Loans, held for sale 5,810 5,926 5,926 — — Loans, net of allowance 1,978,246 1,996,174 — — 1,996,174 Bank owned life insurance 46,728 46,728 46,728 — — Accrued interest receivable 7,728 7,728 7,728 — — Financial Liabilities: Nonmaturing deposits 2,181,931 2,181,931 2,181,931 — — Time deposits 252,835 253,643 — — 253,643 Long-term FHLB advances 75,000 76,617 — — 76,617 Securities sold under agreement to repurchase 23,331 23,331 23,331 — — Subordinated debentures 29,427 29,534 — — 29,534 Accrued interest payable 115 115 115 — — The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at December 31, 2020 were as follows: 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 2,032,474 2,063,249 — — 2,063,249 Bank owned life insurance 45,976 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 — — |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Interest Rate Swap Transactions | The following table summarizes the Company’s interest rate swap positions as of September 30, 2021. Classification on the Consolidated Balance Sheet Notional Amount Fair Value Derivative Assets Swap assets $ 239,230 $ 12,858 Derivative Liabilities Swap liabilities (239,230 ) (12,858 ) Net Exposure $ — $ — The following table summarizes the Company’s interest rate swap positions as of December 31, 2020. Classification on the Consolidated Balance Sheet Notional Amount Fair Value Derivative Assets Swap assets $ 244,748 $ 21,700 Derivative Liabilities Swap liabilities (244,748 ) (21,764 ) Net Exposure $ — $ (64 ) |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 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 three- and nine-months ended September 30, 2021 and 2020. Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Noninterest Income In-scope of Topic 606: Service charges $ 1,519 $ 1,414 $ 4,092 $ 3,812 ATM/Interchange fees 1,330 1,183 3,950 3,226 Wealth management fees 1,236 1,006 3,570 2,916 Tax refund processing fees — — 2,375 2,375 Other 267 214 944 633 Noninterest Income (in-scope of Topic 606) 4,352 3,817 14,931 12,962 Noninterest Income (out-of-scope of Topic 606) 2,074 2,969 9,710 7,554 Total Noninterest Income $ 6,426 $ 6,786 $ 24,641 $ 20,516 |
Consolidated Financial Statem_2
Consolidated Financial Statements - Additional Information (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($)DwellingSegment | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Number of loan concentration by bank to lessors and owners of Residential Buildings and Dwellings | Dwelling | 2 |
Number of reportable segment | Segment | 1 |
Non Residential Buildings and Dwellings [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Amount payable to lessors | $ 572,533 |
Amount payable to lessors in percentage | 28.40% |
Residential Buildings and Dwellings [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Amount payable to lessors | $ 290,758 |
Amount payable to lessors in percentage | 14.40% |
Significant Accounting Polici_3
Significant Accounting Policies - Additional Information (Detail) | Sep. 30, 2021 |
ASU 2020-08 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2021 |
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
ASU 2016-13 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false] | true |
ASU 2019-05 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false] | true |
Securities - Available for Sale
Securities - Available for Sale Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | $ 477,979 | $ 336,316 |
Gross Unrealized Gains | 21,246 | 27,183 |
Gross Unrealized Losses | (1,076) | (35) |
Fair Value | 498,149 | 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 | 53,247 | 21,479 |
Gross Unrealized Gains | 186 | 220 |
Gross Unrealized Losses | (156) | (6) |
Fair Value | 53,277 | 21,693 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | 240,179 | 208,013 |
Gross Unrealized Gains | 17,086 | 21,000 |
Gross Unrealized Losses | (550) | (1) |
Fair Value | 256,715 | 229,012 |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total securities available for sale | 184,553 | 106,824 |
Gross Unrealized Gains | 3,974 | 5,963 |
Gross Unrealized Losses | (370) | (28) |
Fair Value | $ 188,157 | $ 112,759 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Investments Debt And Equity Securities [Abstract] | ||
Amortized Cost, Due in one year or less | $ 9,132 | |
Amortized Cost, Due after one year through five years | 31,533 | |
Amortized Cost, Due after five years through ten years | 45,283 | |
Amortized Cost, Due after ten years | 207,478 | |
Amortized Cost, Mortgage-backed securities | 184,553 | |
Amortized Cost, Total securities available for sale | 477,979 | $ 336,316 |
Fair Value, Due in one year or less | 9,172 | |
Fair Value, Due after one year through five years | 31,732 | |
Fair Value, Due after five years through ten years | 47,236 | |
Fair Value, Due after ten years | 221,852 | |
Fair Value, Mortgage-backed securities | 188,157 | |
Fair Value, Total securities available for sale | $ 498,149 | $ 363,464 |
Securities - Proceeds from Sale
Securities - Proceeds from Sales of Securities Available for Sale, Gross Realized Gains and Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investments Debt And Equity Securities [Abstract] | |||||
Sale proceeds | $ 0 | $ 1,455 | $ 1,785 | $ 1,455 | |
Gross realized gains | 0 | $ 1,785 | 94 | 1,785 | 94 |
Gross realized losses | 0 | 0 | 0 | 0 | |
Gains (losses) from securities called or settled by the issuer | $ 4 | $ (2) | $ 2 | $ (2) |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2021USD ($)Security | Jun. 30, 2021USD ($)shares | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)Security | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Schedule of Available-for-sale Securities [Line Items] | ||||||
Gain on sale of securities | $ 0 | $ 1,785 | $ 94 | $ 1,785 | $ 94 | |
Carrying value of pledged securities | $ 174,794 | $ 174,794 | $ 159,527 | |||
Number of securities in portfolio with unrealized losses | Security | 60 | 60 | ||||
Visa Class B Shares | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Number of securities sold | shares | 7,361 |
Securities - Securities with Un
Securities - Securities with Unrealized Losses Not Recognized in Income (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | $ 132,437 | $ 14,130 |
12 Months or less, Unrealized Loss | (951) | (34) |
More than 12 months, Fair Value | 5,569 | 126 |
More than 12 months, Unrealized Loss | (125) | (1) |
Total Fair Value | 138,006 | 14,256 |
Total Unrealized Loss | (1,076) | (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 | 23,327 | 6,501 |
12 Months or less, Unrealized Loss | (119) | (5) |
More than 12 months, Fair Value | 2,048 | 126 |
More than 12 months, Unrealized Loss | (37) | (1) |
Total Fair Value | 25,375 | 6,627 |
Total Unrealized Loss | (156) | (6) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 36,646 | 1,874 |
12 Months or less, Unrealized Loss | (550) | (1) |
Total Fair Value | 36,646 | 1,874 |
Total Unrealized Loss | (550) | (1) |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 72,464 | 5,755 |
12 Months or less, Unrealized Loss | (282) | (28) |
More than 12 months, Fair Value | 3,521 | |
More than 12 months, Unrealized Loss | (88) | |
Total Fair Value | 75,985 | 5,755 |
Total Unrealized Loss | $ (370) | $ (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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investments Debt And Equity Securities [Abstract] | ||||
Net gains (losses) recognized on equity securities during the period | $ 50 | $ 20 | $ 191 | $ (126) |
Less: Net losses realized on the sale of equity securities during the period | 6 | |||
Unrealized gains (losses) recognized on equity securities held at reporting date | $ 50 | $ 20 | $ 191 | $ (120) |
Loans - Loan Balances (Detail)
Loans - Loan Balances (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | $ 2,004,814 | $ 2,057,502 |
Allowance for loan losses | (26,568) | (25,028) |
Net loans | 1,978,246 | 2,032,474 |
Commercial and Agriculture [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 276,741 | 409,876 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 292,725 | 278,413 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 788,898 | 705,072 |
Residential Real Estate [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 424,553 | 442,588 |
Real Estate Construction [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 179,491 | 175,609 |
Farm Real Estate [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | 30,147 | 33,102 |
Consumer and Other [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Total Loans | $ 12,259 | $ 12,842 |
Loans - Additional Information
Loans - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Jun. 30, 2020USD ($)Loan | Sep. 30, 2021USD ($)EmployeeContract | Dec. 31, 2020USD ($)Loan | Dec. 27, 2020USD ($) | Sep. 30, 2020USD ($) | |
Accounts Notes And Loans Receivable [Line Items] | |||||
Total Loans | $ 2,004,814,000 | $ 2,057,502,000 | |||
Net deferred loan fees | 4,444,000 | 5,998,000 | |||
Loans processed | 0 | $ 0 | |||
Paycheck Protection Program Loans [Member] | |||||
Accounts Notes And Loans Receivable [Line Items] | |||||
Net deferred loan fees | $ 3,340,000 | $ 5,194,000 | |||
Number of loans processed | 1,340 | 2,300 | |||
Loans processed | $ 131,109,000 | $ 268,300,000 | $ 284,500,000,000 | ||
Number of employees | Employee | 300 | ||||
Percentage of reduction in gross revenues | 25.00% | ||||
Maximum of monthly payroll allowable amount | $ 2,000,000 | ||||
Commercial and Agriculture [Member] | |||||
Accounts Notes And Loans Receivable [Line Items] | |||||
Total Loans | 276,741,000 | 409,876,000 | |||
Number of loans processed | Loan | 813 | ||||
Loans processed | $ 431,300,000 | ||||
Commercial and Agriculture [Member] | Paycheck Protection Program Loans [Member] | |||||
Accounts Notes And Loans Receivable [Line Items] | |||||
Total Loans | $ 83,287,000 | $ 217,295,000 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021USD ($)SecurityLoan | Sep. 30, 2020USD ($)SecurityLoan | Jun. 30, 2020USD ($)Loan | Sep. 30, 2021USD ($)LoanSecurityLoan | Sep. 30, 2020USD ($)SecurityLoan | Dec. 31, 2020USD ($) | |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Period for calculating Loss migration rates of portfolio segments | 3 years | |||||
Allowance for loan losses | $ 26,568,000 | $ 26,568,000 | $ 25,028,000 | |||
Provision for loan losses | 0 | $ 2,250,000 | $ 830,000 | $ 7,862,000 | ||
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 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. | |||||
Loans modified as troubled debt restructuring | $ 0 | $ 0 | $ 0 | $ 0 | ||
Defaulted loans | SecurityLoan | 0 | 0 | 0 | 0 | ||
Impaired loans | greater than $350 | |||||
Allowance for loan losses recorded for acquired loans | $ 0 | 0 | ||||
Foreclosed assets | $ 26 | 26 | 31,000 | |||
Residential Mortgage [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Residential mortgages in process of foreclosure | 296,000 | 296,000 | 741,000 | |||
Commercial and Agriculture [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Provision for loan losses | 191,000 | $ (139,000) | (447,000) | $ 452,000 | ||
Loans modified as troubled debt restructuring | $ 431,300,000 | |||||
Number of loans modified | Loan | 813 | |||||
Commercial and Agriculture [Member] | Additional 90 Day Modifications [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans modified as troubled debt restructuring | $ 124,400,000 | |||||
Number of loans modified | Loan | 100 | |||||
Commercial and Agriculture [Member] | Second Modifications [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans modified as troubled debt restructuring | 18,787,000 | $ 18,787,000 | ||||
Number of loans modified | Loan | 18 | |||||
TDRs [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan losses | $ 73,000 | $ 73,000 | $ 35,000 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in the Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accounts Notes And Loans Receivable [Line Items] | ||||
Beginning balance | $ 26,197 | $ 20,420 | $ 25,028 | $ 14,767 |
Charge-offs | (77) | (185) | (148) | (325) |
Recoveries | 448 | 152 | 858 | 333 |
Provision | 0 | 2,250 | 830 | 7,862 |
Ending Balance | 26,568 | 22,637 | 26,568 | 22,637 |
Commercial and Agriculture [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Beginning balance | 2,320 | 2,799 | 2,810 | 2,219 |
Charge-offs | (15) | (15) | ||
Recoveries | 1 | 1 | 164 | 5 |
Provision | 191 | (139) | (447) | 452 |
Ending Balance | 2,512 | 2,661 | 2,512 | 2,661 |
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Beginning balance | 4,027 | 3,411 | 4,057 | 2,541 |
Charge-offs | (147) | (148) | ||
Recoveries | 6 | 6 | 20 | |
Provision | 389 | 685 | 353 | 1,542 |
Ending Balance | 4,416 | 3,955 | 4,416 | 3,955 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Beginning balance | 13,546 | 9,169 | 12,451 | 6,584 |
Recoveries | 381 | 3 | 392 | 44 |
Provision | (757) | 1,406 | 327 | 3,950 |
Ending Balance | 13,170 | 10,578 | 13,170 | 10,578 |
Residential Real Estate [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Beginning balance | 2,531 | 2,434 | 2,484 | 1,582 |
Charge-offs | (77) | (11) | (114) | (108) |
Recoveries | 53 | 117 | 232 | 196 |
Provision | 89 | (83) | (6) | 787 |
Ending Balance | 2,596 | 2,457 | 2,596 | 2,457 |
Real Estate Construction [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Beginning balance | 2,177 | 1,844 | 2,439 | 1,250 |
Recoveries | 1 | 1 | 3 | |
Provision | 282 | 500 | 19 | 1,092 |
Ending Balance | 2,459 | 2,345 | 2,459 | 2,345 |
Farm Real Estate [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Beginning balance | 290 | 361 | 338 | 344 |
Recoveries | 3 | 3 | 9 | 10 |
Provision | 15 | (4) | (39) | 6 |
Ending Balance | 308 | 360 | 308 | 360 |
Consumer and Other [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Beginning balance | 202 | 247 | 209 | 247 |
Charge-offs | (27) | (19) | (54) | |
Recoveries | 10 | 21 | 54 | 55 |
Provision | (21) | (32) | (28) | |
Ending Balance | 212 | 220 | 212 | 220 |
Unallocated [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Beginning balance | 1,104 | 155 | 240 | |
Provision | (209) | (94) | 655 | 61 |
Ending Balance | $ 895 | $ 61 | $ 895 | $ 61 |
Allowance for Loan Losses - End
Allowance for Loan Losses - Ending Allocation of Allowance for Loan Losses and Loan Balances Outstanding (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | $ 73 | $ 107 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 26,495 | 24,921 | ||||
Allowance for loan losses, Total | 26,568 | $ 26,197 | 25,028 | $ 22,637 | $ 20,420 | $ 14,767 |
Outstanding loan balances, Individually evaluated for impairment | 1,272 | 2,666 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 2,003,246 | 2,054,448 | ||||
Outstanding loan balances, Total | 2,004,814 | 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 | 296 | 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 | 2,512 | 2,737 | ||||
Allowance for loan losses, Total | 2,512 | 2,320 | 2,810 | 2,661 | 2,799 | 2,219 |
Outstanding loan balances, Individually evaluated for impairment | 74 | |||||
Outstanding loan balances, Collectively evaluated for impairment | 276,741 | 409,802 | ||||
Outstanding loan balances, Total | 276,741 | 409,876 | ||||
Commercial Real Estate Owner Occupied [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 55 | 5 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 4,361 | 4,052 | ||||
Allowance for loan losses, Total | 4,416 | 4,027 | 4,057 | 3,955 | 3,411 | 2,541 |
Outstanding loan balances, Individually evaluated for impairment | 205 | 980 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 292,520 | 277,433 | ||||
Outstanding loan balances, Total | 292,725 | 278,413 | ||||
Commercial Real Estate Non Owner Occupied [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan losses, Collectively evaluated for impairment | 13,170 | 12,451 | ||||
Allowance for loan losses, Total | 13,170 | 13,546 | 12,451 | 10,578 | 9,169 | 6,584 |
Outstanding loan balances, Individually evaluated for impairment | 48 | |||||
Outstanding loan balances, Collectively evaluated for impairment | 788,898 | 705,024 | ||||
Outstanding loan balances, Total | 788,898 | 705,072 | ||||
Residential Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 18 | 29 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 2,578 | 2,455 | ||||
Allowance for loan losses, Total | 2,596 | 2,531 | 2,484 | 2,457 | 2,434 | 1,582 |
Outstanding loan balances, Individually evaluated for impairment | 545 | 946 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 423,712 | 441,254 | ||||
Outstanding loan balances, Total | 424,553 | 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 | 296 | 388 | ||||
Real Estate Construction [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan losses, Collectively evaluated for impairment | 2,459 | 2,439 | ||||
Allowance for loan losses, Total | 2,459 | 2,177 | 2,439 | 2,345 | 1,844 | 1,250 |
Outstanding loan balances, Collectively evaluated for impairment | 179,491 | 175,609 | ||||
Outstanding loan balances, Total | 179,491 | 175,609 | ||||
Farm Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan losses, Collectively evaluated for impairment | 308 | 338 | ||||
Allowance for loan losses, Total | 308 | 290 | 338 | 360 | 361 | 344 |
Outstanding loan balances, Individually evaluated for impairment | 522 | 618 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 29,625 | 32,484 | ||||
Outstanding loan balances, Total | 30,147 | 33,102 | ||||
Consumer and Other [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan losses, Collectively evaluated for impairment | 212 | 209 | ||||
Allowance for loan losses, Total | 212 | 202 | 209 | 220 | 247 | $ 247 |
Outstanding loan balances, Collectively evaluated for impairment | 12,259 | 12,842 | ||||
Outstanding loan balances, Total | 12,259 | 12,842 | ||||
Unallocated [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan losses, Collectively evaluated for impairment | 895 | 240 | ||||
Allowance for loan losses, Total | $ 895 | $ 1,104 | $ 240 | $ 61 | $ 155 |
Allowance for Loan Losses - Cre
Allowance for Loan Losses - Credit Exposures by Internally Assigned Grades (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 1,632,932 | $ 1,674,591 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,526,876 | 1,525,796 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 52,894 | 84,017 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 53,162 | 64,778 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 276,741 | 409,876 |
Commercial and Agriculture [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 273,617 | 401,636 |
Commercial and Agriculture [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,700 | 4,472 |
Commercial and Agriculture [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,424 | 3,768 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 292,725 | 278,413 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 279,409 | 248,316 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 5,120 | 19,429 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 8,196 | 10,668 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 788,898 | 705,072 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 706,117 | 604,909 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 45,334 | 58,270 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 37,447 | 41,893 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 79,990 | 87,601 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 75,337 | 81,409 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 266 | 668 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 4,387 | 5,524 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 163,497 | 159,661 |
Real Estate Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 162,772 | 158,207 |
Real Estate Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 268 | 962 |
Real Estate Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 457 | 492 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 30,147 | 33,102 |
Farm Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 28,711 | 30,486 |
Farm Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 206 | 216 |
Farm Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,230 | 2,400 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 934 | 866 |
Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 913 | 833 |
Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 21 | $ 33 |
Allowance for Loan Losses - Per
Allowance for Loan Losses - Performing and Nonperforming Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | $ 371,882 | $ 382,911 |
Total | 371,882 | 382,911 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 344,563 | 354,987 |
Total | 344,563 | 354,987 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 15,994 | 15,948 |
Total | 15,994 | 15,948 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 11,325 | 11,976 |
Total | $ 11,325 | $ 11,976 |
Allowance for Loan Losses - Agi
Allowance for Loan Losses - Aging Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 2,250 | $ 3,624 |
Total Loans | 2,004,814 | 2,057,502 |
Past Due 90 Days and Accruing | 430 | |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 634 | 1,235 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 262 | 897 |
90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,354 | 1,492 |
Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,002,268 | 2,053,490 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit-Impaired Loans | 296 | 388 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 400 | 192 |
Total Loans | 276,741 | 409,876 |
Commercial and Agriculture [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 400 | 117 |
Commercial and Agriculture [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 25 | |
Commercial and Agriculture [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 50 | |
Commercial and Agriculture [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 276,341 | 409,684 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 585 | 106 |
Total Loans | 292,725 | 278,413 |
Past Due 90 Days and Accruing | 430 | |
Commercial Real Estate Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 10 | 4 |
Commercial Real Estate Owner Occupied [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 575 | 102 |
Commercial Real Estate Owner Occupied [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 292,140 | 278,307 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | 6 |
Total Loans | 788,898 | 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] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 788,894 | 705,066 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,161 | 3,240 |
Total Loans | 424,553 | 442,588 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 147 | 1,059 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 248 | 867 |
Residential Real Estate [Member] | 90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 766 | 1,314 |
Residential Real Estate [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 423,096 | 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 | 296 | 388 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 179,491 | 175,609 |
Real Estate Construction [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 179,491 | 175,609 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | |
Total Loans | 30,147 | 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] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 30,147 | 33,098 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 100 | 76 |
Total Loans | 12,259 | 12,842 |
Consumer and Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 87 | 59 |
Consumer and Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | 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] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 12,159 | $ 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 | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 3,519 | $ 5,125 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 139 | |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 359 | 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 | 3,129 | 3,893 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 6 | 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 | $ 21 | $ 31 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Loan Modifications (Detail) | 3 Months Ended | 9 Months Ended | |
Jun. 30, 2020USD ($)Loan | Sep. 30, 2021USD ($)Loan | Sep. 30, 2020USD ($) | |
Financing Receivable Modifications [Line Items] | |||
Loans modified as troubled debt restructuring | $ 0 | $ 0 | |
Second Modifications [Member] | CARES Act [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans modified | Loan | 18 | ||
Loans modified as troubled debt restructuring | $ 18,787,000 | ||
Percent of Loans Outstanding | 0.94% | ||
Commercial and Agriculture [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans modified | Loan | 813 | ||
Loans modified as troubled debt restructuring | $ 431,300,000 | ||
Commercial and Agriculture [Member] | Second Modifications [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans modified | Loan | 18 | ||
Loans modified as troubled debt restructuring | $ 18,787,000 | ||
Commercial and Agriculture [Member] | Second Modifications [Member] | CARES Act [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans modified | Loan | 6 | ||
Loans modified as troubled debt restructuring | $ 1,571,000 | ||
Percent of Loans Outstanding | 0.08% | ||
Commercial Real Estate Owner Occupied [Member] | Second Modifications [Member] | CARES Act [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans modified | Loan | 2 | ||
Loans modified as troubled debt restructuring | $ 2,591,000 | ||
Percent of Loans Outstanding | 0.13% | ||
Commercial Real Estate Non Owner Occupied [Member] | Second Modifications [Member] | CARES Act [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans modified | Loan | 9 | ||
Loans modified as troubled debt restructuring | $ 14,174,000 | ||
Percent of Loans Outstanding | 0.71% | ||
Real Estate Construction [Member] | Second Modifications [Member] | CARES Act [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans modified | Loan | 1 | ||
Loans modified as troubled debt restructuring | $ 451,000 | ||
Percent of Loans Outstanding | 0.02% |
Allowance for Loan Losses - Imp
Allowance for Loan Losses - Impaired Loans Excluding PCI Loans - Recorded Investment and Unpaid Principal Balances (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | $ 1,048 | $ 2,338 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,073 | 2,363 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 224 | 328 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 227 | 332 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 73 | 107 |
Impaired financing receivables, Recorded Investment, Total | 1,272 | 2,666 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,300 | 2,695 |
Impaired financing receivables, Related Allowance, Total | 73 | 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 | 12 | 757 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 12 | 757 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 193 | 223 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 193 | 223 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 55 | 5 |
Impaired financing receivables, Recorded Investment, Total | 205 | 980 |
Impaired financing receivables, Unpaid Principal Balance, Total | 205 | 980 |
Impaired financing receivables, Related Allowance, Total | 55 | 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 | 514 | 915 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 539 | 940 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 31 | 31 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 34 | 35 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 18 | 29 |
Impaired financing receivables, Recorded Investment, Total | 545 | 946 |
Impaired financing receivables, Unpaid Principal Balance, Total | 573 | 975 |
Impaired financing receivables, Related Allowance, Total | 18 | 29 |
Farm Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 522 | 618 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 522 | 618 |
Impaired financing receivables, Recorded Investment, Total | 522 | 618 |
Impaired financing receivables, Unpaid Principal Balance, Total | $ 522 | $ 618 |
Allowance for Loan Losses - I_2
Allowance for Loan Losses - Impaired Loans - Average Recorded Investment and Interest Income Recognized (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | $ 1,375 | $ 2,422 | $ 1,735 | $ 2,909 |
Interest Income Recognized | 18 | 29 | 58 | 94 |
Commercial and Agriculture [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 19 | 92 | ||
Interest Income Recognized | 4 | |||
Commercial Real Estate Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 252 | 391 | 449 | 406 |
Interest Income Recognized | 4 | 7 | 15 | 21 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 15 | 212 | 29 | 292 |
Interest Income Recognized | 5 | 1 | 15 | |
Residential Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 551 | 1,175 | 654 | 1,464 |
Interest Income Recognized | 8 | 10 | 24 | 34 |
Farm Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 557 | 644 | 584 | 655 |
Interest Income Recognized | $ 6 | $ 7 | $ 18 | $ 20 |
Allowance for Loan Losses - S_2
Allowance for Loan Losses - Schedule of Changes in Accretable Yield for PCI Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Movement Schedule Roll Forward | ||||
Balance at beginning of period | $ 224 | $ 205 | $ 225 | $ 255 |
Acquisition of PCI loans | 0 | 0 | 0 | 0 |
Accretion | (6) | (101) | (62) | (270) |
Transfer from non-accretable to accretable | 0 | 74 | 55 | 193 |
Balance at end of period | $ 218 | $ 178 | $ 218 | $ 178 |
Allowance for Loan Losses - S_3
Allowance for Loan Losses - Schedule of Loans Acquired and Accounted (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Receivables [Abstract] | ||
Outstanding balance | $ 525 | $ 687 |
Carrying amount | $ 296 | $ 388 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income - Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | $ 352,413 | $ 336,613 | $ 350,108 | $ 330,126 |
Total other comprehensive income (loss) | (2,395) | 733 | (5,321) | 7,513 |
Ending balance | 348,450 | 342,055 | 348,450 | 342,055 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | 18,392 | 19,549 | 21,447 | 12,883 |
Other comprehensive income (loss) before reclassifications | (2,455) | 749 | (5,512) | 7,415 |
Amounts reclassified from accumulated other comprehensive income (loss) | (4) | (73) | (2) | (73) |
Total other comprehensive income (loss) | (2,459) | 676 | (5,514) | 7,342 |
Ending balance | 15,933 | 20,225 | 15,933 | 20,225 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (6,699) | (5,895) | (6,828) | (6,009) |
Amounts reclassified from accumulated other comprehensive income (loss) | 64 | 57 | 193 | 171 |
Total other comprehensive income (loss) | 64 | 57 | 193 | 171 |
Ending balance | (6,635) | (5,838) | (6,635) | (5,838) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | 11,693 | 13,654 | 14,619 | 6,874 |
Other comprehensive income (loss) before reclassifications | (2,455) | 749 | (5,512) | 7,415 |
Amounts reclassified from accumulated other comprehensive income (loss) | 60 | (16) | 191 | 98 |
Total other comprehensive income (loss) | (2,395) | 733 | (5,321) | 7,513 |
Ending balance | $ 9,298 | $ 14,387 | $ 9,298 | $ 14,387 |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income - Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net gain (loss) on sale of securities | $ 4 | $ 92 | $ 2 | $ 92 |
Other operating expenses | (2,677) | (2,197) | (10,741) | (7,115) |
Income tax expense | (1,763) | (1,133) | (5,038) | (3,134) |
Net Income | 9,642 | 7,682 | 29,564 | 22,019 |
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net Income | (60) | 16 | (191) | (98) |
Accumulated Other Comprehensive Income (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax expense | (19) | (19) | ||
Net Income | 4 | 73 | 2 | 73 |
Accumulated Defined Benefit Plans Adjustment, Actuarial gains/(Losses) [Member] | Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Other operating expenses | (81) | (72) | (244) | (217) |
Income tax expense | 17 | 15 | 51 | 46 |
Net Income | $ (64) | $ (57) | $ (193) | $ (171) |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||||
Goodwill | $ 76,851 | $ 76,851 | $ 76,851 | ||
Amortization of core deposit intangible assets | $ 223 | $ 227 | $ 668 | $ 686 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets, Other than Goodwill (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $ 7,738 | |
Core deposit intangibles [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 8,527 | $ 8,527 |
Accumulated Amortization | 3,365 | 2,698 |
Net Carrying Amount | $ 5,162 | $ 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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Loan Servicing Rights: | ||||
Balance at Beginning of Period | $ 2,745 | $ 1,717 | $ 2,246 | $ 1,562 |
Additions | 164 | 381 | 562 | 924 |
Amortized to expense | (144) | (135) | (436) | (361) |
Change in valuation allowance | (189) | 25 | 204 | (137) |
Balance at End of Period | 2,576 | 1,988 | 2,576 | 1,988 |
Valuation allowance: | ||||
Balance at Beginning of Period | (189) | 264 | 204 | 102 |
Additions expensed | $ 189 | 261 | 162 | |
Reductions credited to operations | (25) | $ (465) | (25) | |
Balance at End of Period | $ 239 | $ 239 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2021 | $ 256 | |
2022 | 1,002 | |
2023 | 974 | |
2024 | 937 | |
2025 | 840 | |
Thereafter | 3,729 | |
Net Carrying Amount | 7,738 | |
MSRs [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2021 | 33 | |
2022 | 134 | |
2023 | 133 | |
2024 | 133 | |
2025 | 132 | |
Thereafter | 2,011 | |
Net Carrying Amount | 2,576 | |
Core deposit intangibles [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
2021 | 223 | |
2022 | 868 | |
2023 | 841 | |
2024 | 804 | |
2025 | 708 | |
Thereafter | 1,718 | |
Net Carrying Amount | $ 5,162 | $ 5,829 |
Short-Term and Other Borrowin_3
Short-Term and Other Borrowings - Summary of Federal Funds Purchased, Securities Sold Under Agreements to Repurchase and Other Short-term Borrowings (Detail) - USD ($) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Federal Funds Purchased [Member] | ||
Short-term Debt [Line Items] | ||
Maximum indebtedness | $ 35,000,000 | $ 50,000,000 |
Average balance | $ 543,000 | $ 385,000 |
Average rate paid | (1.47%) | 0.35% |
Short Term Borrowings, FHLB advances [Member] | ||
Short-term Debt [Line Items] | ||
Maximum indebtedness | $ 102,700,000 | |
Average balance | $ 10,888,000 | |
Average rate paid | 1.64% |
Short-Term and Other Borrowin_4
Short-Term and Other Borrowings - Summary of Securities Pledged as Collateral Under Repurchase Agreements (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Offsetting Liabilities [Line Items] | ||
Total securities pledged | $ 23,331 | $ 28,914 |
Gross amount of recognized liabilities for repurchase agreements | 23,331 | 28,914 |
Amounts related to agreements not included in offsetting disclosures above | 0 | 0 |
U.S.Treasury Securities [Member] | ||
Offsetting Liabilities [Line Items] | ||
Total securities pledged | 7,656 | 899 |
Obligations of U.S. Government Agencies [Member] | ||
Offsetting Liabilities [Line Items] | ||
Total securities pledged | $ 15,675 | $ 28,015 |
Earnings per Common Share - Add
Earnings per Common Share - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share [Abstract] | ||||
Dilutive securities | $ 0 | $ 0 | $ 0 | $ 0 |
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Basic | ||||
Net income | $ 9,642 | $ 7,682 | $ 29,564 | $ 22,019 |
Less allocation of earnings and dividends to participating securities | 46 | 26 | 122 | 64 |
Net income available to common shareholders—basic | $ 9,596 | $ 7,656 | $ 29,442 | $ 21,955 |
Weighted average common shares outstanding | 15,168,233 | 16,045,544 | 15,543,488 | 16,201,898 |
Less average participating securities | 72,071 | 54,274 | 64,064 | 47,246 |
Weighted average number of shares outstanding used in the calculation of basic earnings per common share | 15,096,162 | 15,991,270 | 15,479,424 | 16,154,652 |
Earnings per common share: | ||||
Basic | $ 0.64 | $ 0.48 | $ 1.90 | $ 1.36 |
Diluted | $ 0.64 | $ 0.48 | $ 1.90 | $ 1.36 |
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 | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | $ 31,827 | $ 39,095 |
Variable Rate | 509,712 | 470,557 |
Lines of Credit and Construction Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 31,205 | 38,474 |
Variable Rate | 465,902 | 427,864 |
Overdraft Protection [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 7 | 6 |
Variable Rate | 42,925 | 41,707 |
Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 615 | 615 |
Variable Rate | $ 885 | $ 986 |
Commitments, Contingencies an_4
Commitments, Contingencies and Off-Balance-Sheet Risk - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 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 | 3.50% | 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% |
Pension Information - Additiona
Pension Information - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Compensation And Retirement Disclosure [Abstract] | ||
Additional benefits under pension plan | $ 0 | |
Expected future employer contributions | $ 0 | |
Employer contributions | $ 0 |
Pension Information - Component
Pension Information - Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Compensation And Retirement Disclosure [Abstract] | ||||
Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
Interest cost | 95 | 121 | 285 | 363 |
Expected return on plan assets | (160) | (187) | (480) | (561) |
Other components | 81 | 72 | 244 | 217 |
Net periodic pension cost | $ 16 | $ 6 | $ 49 | $ 19 |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | May 28, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Expected future compensation expense | $ 992 | $ 992 | ||||
Weighted average remaining life of grants related to unvested awards not yet recognized | 2 years 6 months 18 days | |||||
Civista Director [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted common shares granted | 8,792 | |||||
Share based compensation - Civista BOD | $ 196 | |||||
Restricted Stock [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted shares vesting service period | 3 years | |||||
Restricted Stock [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted shares vesting service period | 5 years | |||||
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 | 151,892 | 151,892 | ||||
Options granted | 0 | 0 | ||||
Share based compensation expense | $ 132 | $ 99 | $ 392 | $ 322 | ||
Expected future compensation expense | $ 922 | $ 922 | ||||
Weighted average remaining life of grants related to unvested awards not yet recognized | 2 years 6 months 18 days | |||||
2014 Incentive Plan [Member] | Civista Director [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share based compensation - Civista BOD | $ 196 |
Equity Incentive Plan - Summary
Equity Incentive Plan - Summary of Company's Outstanding Restricted Stock (Detail) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2021USD ($)$ / sharesshares | |
Schedule Of Nonvested Stock Option Activity [Line Items] | ||
Number of Restricted Shares, Granted | 72,071 | |
Expected future remaining compensation expense | $ | $ 992 | $ 992 |
Expected future compensation expense, restricted shares remaining vesting period | 2 years 6 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 remaining compensation expense | $ | 6 | $ 6 |
Expected future compensation expense, restricted shares remaining vesting period | 3 months | |
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 | $ | 41 | $ 41 |
Expected future compensation expense, restricted shares remaining vesting period | 1 year 3 months | |
Restricted Shares Awarded on March 14, 2019 [Member] | ||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||
Number of Restricted Shares, Granted | 3,401 | |
Date of Award | Mar. 14, 2019 | |
Expected future remaining compensation expense | $ | 16 | $ 16 |
Expected future compensation expense, restricted shares remaining vesting period | 3 months | |
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 | $ | 89 | $ 89 |
Expected future compensation expense, restricted shares remaining vesting period | 2 years 3 months | |
Restricted Shares Awarded on March 14, 2020 [Member] | ||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||
Number of Restricted Shares, Granted | 9,139 | |
Date of Award | Mar. 14, 2020 | |
Expected future remaining compensation expense | $ | 114 | $ 114 |
Expected future compensation expense, restricted shares remaining vesting period | 1 year 3 months | |
Restricted Shares Awarded on March 14, 2019 [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 | $ | 160 | $ 160 |
Expected future compensation expense, restricted shares remaining vesting period | 3 years 3 months | |
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 | $ | 243 | $ 243 |
Expected future compensation expense, restricted shares remaining vesting period | 4 years 3 months | |
Restricted Shares Awarded on March 3, 2021 [Member] | ||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||
Number of Restricted Shares, Granted | 21,992 | |
Date of Award | Mar. 3, 2021 | |
Expected future remaining compensation expense | $ | $ 323 | $ 323 |
Expected future compensation expense, restricted shares remaining vesting period | 2 years 3 months | |
Restricted Stock [Member] | ||
Schedule Of Nonvested Stock Option Activity [Line Items] | ||
Number of Restricted Shares, Nonvested at beginning of period | 72,071 | 54,274 |
Number of Restricted Shares, Granted | 0 | 39,139 |
Number of Restricted Shares, Vested | 0 | (20,275) |
Number of Restricted Shares, Forfeited | 0 | (1,067) |
Number of Restricted Shares, Nonvested at end of period | 72,071 | 72,071 |
Weighted Average Grant Date Fair Value, Nonvested at beginning of period | $ / shares | $ 20.13 | $ 20.90 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 0 | 19.17 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 0 | 20.35 |
Weighted Average Grant Date Fair Value, Forfeited | $ / shares | 0 | 19.56 |
Weighted Average Grant Date Fair Value, Nonvested at end of period | $ / shares | $ 20.13 | $ 20.13 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available for sale | $ 498,149 | $ 363,464 |
Equity securities | 1,077 | 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 | 498,149 | 363,464 |
Equity securities | 1,077 | 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 | 12,858 | 21,700 |
Swap liability | 12,858 | 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 | 53,277 | 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 | 256,715 | 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 | 188,157 | 112,759 |
(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 | 2,576 | 2,246 |
(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 | $ 26 | $ 31 |
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 | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 11 | $ 1 |
Valuation Technique | Appraisal of collateral | Appraisal of collateral |
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 | $ 26 | $ 31 |
Valuation Technique | Appraisal of collateral | Appraisal of collateral |
Other Real Estate Owned [Member] | Measurement Input, Appraised Value [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 10 | 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 | 10 |
Mortgage Servicing Rights [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 2,576 | $ 2,246 |
Valuation Technique | Discounted Cash Flow | Discounted Cash Flow |
Mortgage Servicing Rights [Member] | Constant Prepayment Rate [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 8.7 | 12 |
Mortgage Servicing Rights [Member] | Constant Prepayment Rate [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 35 | 50 |
Mortgage Servicing Rights [Member] | Constant Prepayment Rate [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 16 | 22 |
Mortgage Servicing Rights [Member] | Discount Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 12 | 12 |
Mortgage Servicing Rights [Member] | Discount Rate [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable Input | 12 | 12 |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Amount and Fair Value of Financial Instruments Not Measured at Fair Value on a Recurring or Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financial Assets: | ||
Cash and due from financial institutions | $ 246,165 | $ 128,222 |
Other securities | 17,011 | 20,537 |
Loans, net of allowance | 1,978,246 | 2,032,474 |
Bank owned life insurance | 46,728 | 45,976 |
Accrued interest receivable | 7,728 | 9,421 |
Financial Liabilities: | ||
Long-term FHLB advances | 75,000 | 125,000 |
Securities sold under agreement to repurchase | 23,331 | 28,914 |
Carrying Amount [Member] | ||
Financial Assets: | ||
Cash and due from financial institutions | 253,165 | 139,522 |
Other securities | 17,011 | 20,537 |
Loans, held for sale | 5,810 | 7,001 |
Loans, net of allowance | 1,978,246 | 2,032,474 |
Bank owned life insurance | 46,728 | 45,976 |
Accrued interest receivable | 7,728 | 9,421 |
Financial Liabilities: | ||
Nonmaturing deposits | 2,181,931 | 1,902,560 |
Time deposits | 252,835 | 286,838 |
Long-term FHLB advances | 75,000 | 125,000 |
Securities sold under agreement to repurchase | 23,331 | 28,914 |
Subordinated debentures | 29,427 | 29,427 |
Accrued interest payable | 115 | 204 |
Total Fair Value [Member] | ||
Financial Assets: | ||
Cash and due from financial institutions | 253,165 | 139,522 |
Other securities | 17,011 | 20,537 |
Loans, held for sale | 5,926 | 7,141 |
Loans, net of allowance | 1,996,174 | 2,063,249 |
Bank owned life insurance | 46,728 | 45,976 |
Accrued interest receivable | 7,728 | 9,421 |
Financial Liabilities: | ||
Nonmaturing deposits | 2,181,931 | 1,902,560 |
Time deposits | 253,643 | 288,298 |
Long-term FHLB advances | 76,617 | 130,942 |
Securities sold under agreement to repurchase | 23,331 | 28,914 |
Subordinated debentures | 29,534 | 31,479 |
Accrued interest payable | 115 | 204 |
(Level 1) [Member] | ||
Financial Assets: | ||
Cash and due from financial institutions | 253,165 | 139,522 |
Other securities | 17,011 | 20,537 |
Loans, held for sale | 5,926 | 7,141 |
Bank owned life insurance | 46,728 | 45,976 |
Accrued interest receivable | 7,728 | 9,421 |
Financial Liabilities: | ||
Nonmaturing deposits | 2,181,931 | 1,902,560 |
Securities sold under agreement to repurchase | 23,331 | 28,914 |
Accrued interest payable | 115 | 204 |
(Level 3) [Member] | ||
Financial Assets: | ||
Loans, net of allowance | 1,996,174 | 2,063,249 |
Financial Liabilities: | ||
Time deposits | 253,643 | 288,298 |
Long-term FHLB advances | 76,617 | 130,942 |
Subordinated debentures | $ 29,534 | $ 31,479 |
Derivatives - Summary of Intere
Derivatives - Summary of Interest Rate Swap Transactions (Detail) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Derivatives Fair Value [Line Items] | ||
Net Exposure, Notional Amount | $ 0 | $ 0 |
Net Exposure, Fair value | 0 | (64,000) |
Derivative Financial Instruments, Assets [Member] | Swap Assets [Member] | ||
Derivatives Fair Value [Line Items] | ||
Net Exposure, Notional Amount | 239,230,000 | 244,748,000 |
Net Exposure, Fair value | 12,858,000 | 21,700,000 |
Derivative Financial Instruments, Liabilities [Member] | Swap Liabilities [Member] | ||
Derivatives Fair Value [Line Items] | ||
Net Exposure, Notional Amount | (239,230,000) | (244,748,000) |
Net Exposure, Fair value | $ (12,858,000) | $ (21,764,000) |
Derivatives - Additional Inform
Derivatives - Additional Information (Detail) - Interest Rate Swap [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Collateral Pledged [Member] | ||
Derivatives Fair Value [Line Items] | ||
Cash and securities at fair value pledged for collateral | $ 7,035 | $ 11,705 |
Cash and Cash Equivalents [Member] | ||
Derivatives Fair Value [Line Items] | ||
Cash and securities at fair value pledged for collateral | $ 7,000 | $ 11,300 |
Qualified Affordable Housing _2
Qualified Affordable Housing Project Investments - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Investments In Affordable Housing Projects [Abstract] | |||||
Investment for qualified affordable housing projects included in other assets | $ 13,303,000 | $ 13,303,000 | $ 11,911,000 | ||
Unfunded commitments related to the investments in qualified affordable housing projects | 6,629,000 | 6,629,000 | $ 5,944,000 | ||
Recognized amortization expense | 203,000 | $ 156,000 | 608,000 | $ 489,000 | |
Recognized tax credits and other benefits from its investment in affordable housing tax credits | 339,000 | 304,000 | 1,015,000 | 888,000 | |
Impairment losses related to its investments in qualified affordable housing projects | $ 0 | $ 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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Noninterest income | ||||
Service charges | $ 1,519 | $ 1,414 | $ 4,092 | $ 3,812 |
ATM/Interchange fees | 1,330 | 1,183 | 3,950 | 3,226 |
Wealth management fees | 1,236 | 1,006 | 3,570 | 2,916 |
Tax refund processing fees | 2,375 | 2,375 | ||
Other | 267 | 214 | 944 | 633 |
Noninterest Income (in-scope of Topic 606) | 4,352 | 3,817 | 14,931 | 12,962 |
Noninterest Income (out-of-scope of Topic 606) | 2,074 | 2,969 | 9,710 | 7,554 |
Total noninterest income | $ 6,426 | $ 6,786 | $ 24,641 | $ 20,516 |