Document and Entity Information
Document and Entity Information Document - shares | 3 Months Ended | |
Mar. 31, 2023 | Apr. 30, 2023 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 000-26584 | |
Entity Registrant Name | BANNER CORPORATION | |
Entity Incorporation, State or Country Code | WA | |
Entity Tax Identification Number | 91-1691604 | |
Entity Address, Address Line One | 10 South First Avenue | |
Entity Address, City or Town | Walla Walla | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 99362 | |
City Area Code | 509 | |
Local Phone Number | 527-3636 | |
Title of 12(b) Security | Common Stock, par value $.01 per share | |
Trading Symbol | BANR | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 34,334,590 | |
Amendment Flag | false | |
Entity Central Index Key | 0000946673 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
ASSETS | ||
Cash and due from banks | $ 194,629 | $ 198,154 |
Interest bearing deposits | 48,363 | 44,908 |
Total cash and cash equivalents | 242,992 | 243,062 |
Securities—trading | 28,591 | 28,694 |
Debt Securities, Available-for-Sale | 2,653,860 | 2,789,031 |
Securities—held-to-maturity, net of allowance for credit losses of $364 and $379, respectively | 1,109,595 | 1,117,588 |
Total securities | 3,792,046 | 3,935,313 |
Federal Home Loan Bank (FHLB) stock | 16,800 | 12,000 |
Securities purchased under agreements to resell | 150,000 | 300,000 |
Loans held for sale (includes $48,439 and $51,779, at fair value, respectively) | 49,016 | 56,857 |
Loans and Leases Receivable, Gross | 10,160,684 | 10,146,724 |
Allowance for credit losses – loans | 141,457 | 141,465 |
Net loans receivable | 10,019,227 | 10,005,259 |
Accrued interest receivable | 52,094 | 57,284 |
Property and equipment, net | 136,362 | 138,754 |
Goodwill | 373,121 | 373,121 |
Other intangibles, net | 8,390 | 9,440 |
Bank-owned life insurance (BOLI) | 299,754 | 297,565 |
Deferred tax assets, net | 165,247 | 178,131 |
Operating lease right-of-use assets | 47,106 | 49,283 |
Other assets | 181,448 | 177,362 |
Total assets | 15,533,603 | 15,833,431 |
Deposits: | ||
Non-interest-bearing | 5,764,009 | 6,176,998 |
Interest-bearing transaction and savings accounts | 6,440,261 | 6,719,531 |
Interest-bearing certificates | 949,932 | 723,530 |
Total deposits | 13,154,202 | 13,620,059 |
Advances from FHLB | 170,000 | 50,000 |
Other borrowings | 214,564 | 232,799 |
Subordinated notes, net | 99,046 | 98,947 |
Junior subordinated debentures at fair value (issued in connection with Trust Preferred Securities) | 74,703 | 74,857 |
Operating lease liabilities | 52,772 | 55,205 |
Accrued expenses and other liabilities | 191,326 | 200,839 |
Deferred compensation | 45,295 | 44,293 |
Total liabilities | 14,001,908 | 14,376,999 |
COMMITMENTS AND CONTINGENCIES (Note 12) | ||
SHAREHOLDERS’ EQUITY | ||
Preferred stock - $0.01 par value per share, 500,000 shares authorized; no shares outstanding at March 31, 2023 and December 31, 2022 | 0 | 0 |
Retained earnings | 564,106 | 525,242 |
Carrying value of shares held in trust for stock-based compensation plans | (6,919) | (6,905) |
Liability for common stock issued to stock related compensation plans | 6,919 | 6,905 |
Accumulated other comprehensive loss | (325,636) | (362,769) |
Total shareholders’ equity | 1,531,695 | 1,456,432 |
Total liabilities and shareholders’ equity | 15,533,603 | 15,833,431 |
Voting Common Stock [Member] | ||
SHAREHOLDERS’ EQUITY | ||
Common stock and paid in capital | 1,293,225 | 1,293,959 |
Nonvoting Common Stock [Member] | ||
SHAREHOLDERS’ EQUITY | ||
Common stock and paid in capital | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF FI_2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
ASSETS | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 3,040,211 | $ 3,218,777 |
Allowance for Credit Losses | (364) | 379 |
Securities—held-to-maturity, fair value | $ 957,062 | $ 942,180 |
SHAREHOLDERS’ EQUITY | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 500,000 | 500,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Voting Common Stock [Member] | ||
SHAREHOLDERS’ EQUITY | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares, Issued | 34,308,540 | 34,194,018 |
Common Stock, Shares, Outstanding | 34,308,540 | 34,194,018 |
Nonvoting Common Stock [Member] | ||
SHAREHOLDERS’ EQUITY | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Common Stock, Shares, Issued | 0 | 0 |
Common Stock, Shares, Outstanding | 0 | 0 |
Loans [Member] | ||
ASSETS | ||
Loans Held-for-sale, Fair Value Disclosure | $ 48,439 | $ 51,779 |
Loans [Member] | Recurring [Member] | ||
ASSETS | ||
Loans Held-for-sale, Fair Value Disclosure | $ 5,485 | $ 2,305 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
INTEREST INCOME: | ||
Loans receivable | $ 133,257 | $ 100,350 |
Mortgage-backed securities | 18,978 | 14,109 |
Securities and cash equivalents | 14,726 | 8,432 |
Total interest income | 166,961 | 122,891 |
INTEREST EXPENSE: | ||
Deposits | 9,244 | 2,086 |
FHLB advances | 1,264 | 291 |
Other borrowings | 381 | 84 |
Subordinated debt | 2,760 | 1,776 |
Total interest expense | 13,649 | 4,237 |
Net interest income | 153,312 | 118,654 |
Provision for Loan, Lease, and Other Losses | (524) | (6,961) |
Net interest income after (recapture) provision for credit losses | 153,836 | 125,615 |
NON-INTEREST INCOME: | ||
Deposit fees and other service charges | 10,562 | 11,189 |
Mortgage banking operations | 2,691 | 4,440 |
BOLI | 2,188 | 1,631 |
Miscellaneous | 1,640 | 1,683 |
Other operating income | 17,081 | 18,943 |
Net (loss) gain on sale of securities | (7,252) | 435 |
Net change in valuation of financial instruments carried at fair value | (552) | 49 |
Total non-interest income | 9,277 | 19,427 |
NON-INTEREST EXPENSE: | ||
Salary and employee benefits | 61,389 | 59,486 |
Less capitalized loan origination costs | (3,431) | (6,230) |
Occupancy and equipment | 11,970 | 13,220 |
Information and computer data services | 7,147 | 6,651 |
Payment and card processing services | 4,618 | 4,896 |
Professional and legal expenses | 2,121 | 2,180 |
Advertising and marketing | 806 | 461 |
Deposit insurance | 1,890 | 1,524 |
State and municipal business and use taxes | 1,300 | 1,162 |
Real estate operations, net | (277) | (79) |
Amortization of core deposit intangibles | 1,050 | 1,424 |
Loss on extinguishment of debt | 0 | 793 |
Miscellaneous | 6,038 | 5,707 |
Total non-interest expense | 94,621 | 91,195 |
Income before provision for income taxes | 68,492 | 53,847 |
PROVISION FOR INCOME TAXES | 12,937 | 9,884 |
NET INCOME | $ 55,555 | $ 43,963 |
Earnings per common share: | ||
Basic | $ 1.62 | $ 1.28 |
Diluted | 1.61 | 1.27 |
Common Stock, Dividends, Per Share, Declared | $ 0.48 | $ 0.44 |
Weighted average number of common shares outstanding, Basic | 34,239,533 | 34,300,742 |
Weighted average number of common shares outstanding, Diluted | 34,457,869 | 34,598,436 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||
Net Income (Loss) Attributable to Parent | $ 55,555 | $ 43,963 |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment and Tax | 36,143 | (153,064) |
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, Tax | (8,675) | 36,736 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | 7,252 | (435) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | (1,740) | 104 |
OCI, Debt Securities, Unrealized Gain (Loss) on Securities Transferred from Available-for-Sale to Held-to-Maturity, Before Tax | 0 | 34,596 |
OCI, Debt Securities, Unrealized Gain (Loss) on Securities Transferred from Available-for-Sale to Held-to-Maturity, Tax | 0 | 8,303 |
OCI, Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Adjustment from AOCI for Amortization of Gain (Loss), before Tax | 572 | 324 |
OCI, Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Adjustment from AOCI for Amortization of Gain (Loss), Tax | (137) | (77) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax | 4,738 | (14,775) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax | (1,137) | 3,546 |
Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, before Tax, after Reclassification Adjustment | 154 | (1,213) |
Other Comprehensive Income (Loss), Change in Fair Value of Junior Subordinated Debentures, Tax | (37) | 291 |
Reclassification of fair value of junior subordinated debentures redeemed | 0 | 765 |
Other Comprehensive Income (Loss), Reclassification of Fair Value, Junior Subordinated Debentures Redeemed, Tax | 0 | (184) |
Other Comprehensive Income (Loss), Net of Tax, Total | 37,133 | (154,275) |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total | $ 92,688 | $ (110,312) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Common Stock and Paid in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance, beginning of the period (in shares) at Dec. 31, 2021 | 34,252,632 | ||||
Balance, beginning of the period at Dec. 31, 2021 | $ 1,690,327 | $ 1,299,381 | $ 390,762 | $ 184 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net Income (Loss) Attributable to Parent | 43,963 | 43,963 | |||
Other Comprehensive Income (Loss), Net of Tax | (154,275) | (154,275) | |||
Accrual of dividends on common stock | (15,066) | (15,066) | |||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 120,152 | ||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | (1,169) | (1,169) | |||
Balance, end of the period (in shares) at Mar. 31, 2022 | 34,372,784 | ||||
Balance, end of the period at Mar. 31, 2022 | $ 1,563,780 | 1,298,212 | 419,659 | (154,091) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.44 | ||||
Net Income (Loss) Attributable to Parent | $ 47,965 | 47,965 | |||
Other Comprehensive Income (Loss), Net of Tax | (101,824) | (101,824) | |||
Accrual of dividends on common stock | (15,378) | (15,378) | |||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 18,546 | ||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 2,247 | 2,247 | |||
Repurchase of common stock (in shares) | (200,000) | ||||
Repurchase of common stock | (10,960) | (10,960) | |||
Balance, end of the period (in shares) at Jun. 30, 2022 | 34,191,330 | ||||
Balance, end of the period at Jun. 30, 2022 | $ 1,485,830 | 1,289,499 | 452,246 | (255,915) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.44 | ||||
Net Income (Loss) Attributable to Parent | $ 49,070 | 49,070 | |||
Other Comprehensive Income (Loss), Net of Tax | (113,275) | (113,275) | |||
Accrual of dividends on common stock | (15,208) | (15,208) | |||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 429 | ||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 2,242 | 2,242 | |||
Balance, end of the period (in shares) at Sep. 30, 2022 | 34,191,759 | ||||
Balance, end of the period at Sep. 30, 2022 | $ 1,408,659 | 1,291,741 | 486,108 | (369,190) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.44 | ||||
Net Income (Loss) Attributable to Parent | $ 54,380 | 54,380 | |||
Other Comprehensive Income (Loss), Net of Tax | 6,421 | 6,421 | |||
Accrual of dividends on common stock | (15,246) | (15,246) | |||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 2,259 | ||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 2,218 | 2,218 | |||
Balance, end of the period (in shares) at Dec. 31, 2022 | 34,194,018 | ||||
Balance, end of the period at Dec. 31, 2022 | $ 1,456,432 | 1,293,959 | 525,242 | (362,769) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.44 | ||||
Net Income (Loss) Attributable to Parent | $ 55,555 | 55,555 | |||
Other Comprehensive Income (Loss), Net of Tax | 37,133 | 37,133 | |||
Accrual of dividends on common stock | (16,691) | (16,691) | |||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 114,522 | ||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | (734) | (734) | |||
Balance, end of the period (in shares) at Mar. 31, 2023 | 34,308,540 | ||||
Balance, end of the period at Mar. 31, 2023 | $ 1,531,695 | $ 1,293,225 | $ 564,106 | $ (325,636) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.48 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |||||
Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Statement of Stockholders' Equity [Abstract] | ||||||
Common Stock, Dividends, Per Share, Declared | $ 0.48 | $ 0.44 | $ 0.44 | $ 0.44 | $ 0.44 | |
Net Income (Loss) Attributable to Parent | $ 55,555 | $ 54,380 | $ 49,070 | $ 47,965 | $ 43,963 | |
Other Comprehensive Income (Loss), Net of Tax | 37,133 | 6,421 | (113,275) | (101,824) | (154,275) | |
Accrual of dividends on common stock | (16,691) | (15,246) | (15,208) | (15,378) | (15,066) | |
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | (734) | 2,218 | 2,242 | 2,247 | (1,169) | |
Repurchase of common stock | (10,960) | |||||
Equity, Attributable to Parent | $ 1,531,695 | $ 1,456,432 | $ 1,408,659 | $ 1,485,830 | $ 1,563,780 | $ 1,690,327 |
Common Stock, Dividends, Per Share, Declared | $ 0.48 | $ 0.44 | $ 0.44 | $ 0.44 | $ 0.44 | |
Common Stock [Member] | ||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 114,522 | 2,259 | 429 | 18,546 | 120,152 | |
Stock Repurchased and Retired During Period, Shares | (200,000) | |||||
Shares, Outstanding | 34,308,540 | 34,194,018 | 34,191,759 | 34,191,330 | 34,372,784 | 34,252,632 |
Common Stock and Paid in Capital [Member] | ||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | $ (734) | $ 2,218 | $ 2,242 | $ 2,247 | $ (1,169) | |
Repurchase of common stock | (10,960) | |||||
Equity, Attributable to Parent | 1,293,225 | 1,293,959 | 1,291,741 | 1,289,499 | 1,298,212 | $ 1,299,381 |
Retained Earnings [Member] | ||||||
Net Income (Loss) Attributable to Parent | 55,555 | 54,380 | 49,070 | 47,965 | 43,963 | |
Accrual of dividends on common stock | (16,691) | (15,246) | (15,208) | (15,378) | (15,066) | |
Equity, Attributable to Parent | 564,106 | 525,242 | 486,108 | 452,246 | 419,659 | 390,762 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Other Comprehensive Income (Loss), Net of Tax | 37,133 | 6,421 | (113,275) | (101,824) | (154,275) | |
Equity, Attributable to Parent | $ (325,636) | $ (362,769) | $ (369,190) | $ (255,915) | $ (154,091) | $ 184 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
OPERATING ACTIVITIES: | ||||
Net Income (Loss) Attributable to Parent | $ 55,555 | $ 54,380 | $ 47,965 | $ 43,963 |
Adjustments to reconcile net income to net cash provided from operating activities: | ||||
Depreciation | 4,364 | 4,169 | ||
Deferred income and expense, net of amortization | (608) | (1,838) | ||
Capitalized loan servicing rights, net of amortization | 592 | (739) | ||
Amortization of core deposit intangibles | 1,050 | 1,424 | ||
Loss (gain) on sale of securities, net | 7,252 | (435) | ||
Net change in valuation of financial instruments carried at fair value | 552 | (49) | ||
Decrease in deferred taxes | (1,158) | (860) | ||
Increase in current taxes payable | 10,014 | 7,595 | ||
Stock-based compensation | 2,053 | 2,081 | ||
Net change in cash surrender value of BOLI | (2,188) | (1,519) | ||
Gain on sale of loans, excluding capitalized servicing rights | (1,445) | (1,909) | ||
(Gain) loss on disposal of real estate held for sale and property and equipment, net | (331) | 109 | ||
Provision for Loan, Lease, and Other Losses | (524) | (6,961) | ||
Loss on extinguishment of debt | 0 | 765 | ||
Origination of loans held for sale | (39,585) | (208,270) | ||
Proceeds from sales of loans held for sale | 48,871 | 226,074 | ||
Net change in: | ||||
Other assets | 8,837 | (10,245) | ||
Other liabilities | (20,880) | (4,421) | ||
Net cash provided from operating activities | 74,737 | 50,654 | ||
INVESTING ACTIVITIES: | ||||
Purchases of securities—available-for-sale | 26,426 | 281,353 | ||
Principal repayments and maturities of securities—available-for-sale | 45,774 | 106,937 | ||
Proceeds from sales of securities—available-for-sale | 150,170 | 12,767 | ||
Purchases of securities—held-to-maturity | 0 | (40,351) | ||
Principal repayments and maturities of securities—held-to-maturity | 7,937 | 7,573 | ||
Loan (originations) repayments, net | (13,681) | 31,355 | ||
Purchases of loans and participating interest in loans | 0 | (75,575) | ||
Proceeds from sales of other loans | 1,519 | 5,034 | ||
Purchases of property and equipment | (1,984) | (3,306) | ||
Proceeds from sale of real estate held for sale and sale of other property | 343 | 5,616 | ||
Proceeds from FHLB stock repurchase program | 37,920 | 2,000 | ||
Purchase of FHLB stock | 42,720 | 0 | ||
Proceeds from maturity of reverse repurchase agreements | 150,000 | 0 | ||
Investment in bank-owned life insurance | (2) | (50,040) | ||
Other | (39) | 1,098 | ||
Net cash provided from (used by) investing activities | 308,811 | (278,245) | ||
FINANCING ACTIVITIES: | ||||
(Decrease) increase in deposits, net | (465,857) | 196,841 | ||
Repayment of long term FHLB advances | 0 | 50,000 | ||
Advances of overnight and short term FHLB advances, net | 120,000 | 0 | ||
Proceeds from (Payments for) Other Financing Activities | (18,235) | 2,288 | ||
Repayment of junior subordinated debentures | 0 | (50,518) | ||
Proceeds from redemption of trust preferred securities related to junior subordinated debentures | 0 | 1,518 | ||
Cash dividends paid | (16,739) | (15,200) | ||
Taxes paid related to net share settlement of equity awards | 2,787 | 3,250 | ||
Net Cash Provided by (Used in) Financing Activities, Total | (383,618) | 81,679 | ||
NET CHANGE IN CASH AND CASH EQUIVALENTS | (70) | (145,912) | ||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 243,062 | $ 1,988,388 | 2,134,300 | |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 242,992 | $ 243,062 | 1,988,388 | |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||
Interest paid in cash | 10,574 | 3,526 | ||
Tax paid | 43 | 120 | ||
NON-CASH INVESTING AND FINANCING TRANSACTIONS: | ||||
Dividends Payable | 1,110 | 1,204 | ||
Loans, held-for-sale, transferred to portfolio | 0 | 13,420 | ||
Securities, available-for-sale, transferred to held-to-maturity | $ 0 | $ 462,159 |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | The accompanying unaudited condensed consolidated financial statements include the accounts of Banner Corporation (the Company or Banner), a bank holding company incorporated in the State of Washington and its wholly-owned subsidiary, Banner Bank (the Bank). These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (SEC). In preparing these financial statements, the Company has evaluated events and transactions subsequent to March 31, 2023 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information and note disclosures have been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. Certain reclassifications have been made to the 2022 Consolidated Financial Statements and/or schedules to conform to the 2023 presentation. These reclassifications may have affected certain ratios for the prior periods. The effect of these reclassifications is considered immaterial. All significant intercompany transactions and balances have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company’s accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. The information included in this Form 10-Q should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Interim results are not necessarily indicative of results for a full year or any other interim period. |
ACCOUNTING STANDARDS RECENTLY I
ACCOUNTING STANDARDS RECENTLY ISSUED OR ADOPTED | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Changes and Error Corrections [Abstract] | |
ACCOUNTING STANDARDS RECENTLY ISSUED OR ADOPTED | Financial Instruments – Credit Losses (Topic 326) On January 1, 2023, the Company adopted the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The ASU eliminated the troubled debt restructuring (TDR) recognition and measurement guidance and, instead, requires that a creditor evaluate (consistent with the accounting for other loan modifications) whether the modification represents a new loan or a continuation of an existing loan. The ASU also introduced new disclosure requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. In addition, the ASU requires vintage disclosures including current-period gross write-offs by year of origination for financing receivables. The Company applied the ASU prospectively and new disclosures have been added when applicable. |
SECURITIES
SECURITIES | 3 Months Ended |
Mar. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
SECURITIES | The amortized cost, gross unrealized gains and losses and estimated fair value of securities at March 31, 2023 and December 31, 2022 are summarized as follows (in thousands): March 31, 2023 Amortized Cost Fair Value Trading: Corporate bonds $ 27,203 $ 28,591 $ 27,203 $ 28,591 March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale: U.S. Government and agency obligations $ 53,689 $ 10 $ (1,111) $ 52,588 Municipal bonds 205,152 482 (31,913) 173,721 Corporate bonds 133,269 — (15,865) 117,404 Mortgage-backed or related securities 2,425,602 1,647 (335,040) 2,092,209 Asset-backed securities 222,499 269 (4,830) 217,938 $ 3,040,211 $ 2,408 $ (388,759) $ 2,653,860 March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Held-to-Maturity: U.S. Government and agency obligations $ 310 $ 1 $ (5) $ 306 $ — Municipal bonds 501,361 358 (59,063) 442,656 (173) Corporate bonds 2,929 — (19) 2,910 (191) Mortgage-backed or related securities 605,359 — (94,169) 511,190 — $ 1,109,959 $ 359 $ (153,256) $ 957,062 $ (364) December 31, 2022 Amortized Cost Fair Value Trading: Corporate bonds $ 27,203 $ 28,694 $ 27,203 $ 28,694 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale: U.S. Government and agency obligations $ 56,344 $ 8 $ (1,244) $ 55,108 Municipal bonds 301,449 530 (40,770) 261,209 Corporate bonds 133,334 — (11,481) 121,853 Mortgage-backed or related securities 2,505,172 885 (366,721) 2,139,336 Asset-backed securities 222,478 40 (10,993) 211,525 $ 3,218,777 $ 1,463 $ (431,209) $ 2,789,031 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Held-to-Maturity: U.S. Government and agency obligations $ 312 $ — $ (7) $ 305 $ — Municipal bonds 503,117 109 (70,907) 432,319 (183) Corporate bonds 2,961 — (16) 2,945 (196) Mortgage-backed or related securities 611,577 — (104,966) 506,611 — $ 1,117,967 $ 109 $ (175,896) $ 942,180 $ (379) Accrued interest receivable on held-to-maturity debt securities was $4.4 million and $4.8 million as of March 31, 2023 and December 31, 2022, respectively, and was $11.9 million and $12.4 million on available-for-sale debt securities at March 31, 2023 and December 31, 2022, respectively. Accrued interest receivable on securities is reported in accrued interest receivable on the Consolidated Statements of Financial Condition and is excluded from the calculation of the allowance for credit losses. At March 31, 2023 and December 31, 2022, the gross unrealized losses and the fair value for securities available-for-sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position were as follows (in thousands): March 31, 2023 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available-for-Sale: U.S. Government and agency obligations $ 24,785 $ (216) $ 23,739 $ (895) $ 48,524 $ (1,111) Municipal bonds 49,555 (1,218) 106,391 (30,695) 155,946 (31,913) Corporate bonds 42,252 (4,953) 74,552 (10,912) 116,804 (15,865) Mortgage-backed or related securities 403,356 (19,053) 1,558,227 (315,987) 1,961,583 (335,040) Asset-backed securities 123,691 (2,118) 83,914 (2,712) 207,605 (4,830) $ 643,639 $ (27,558) $ 1,846,823 $ (361,201) $ 2,490,462 $ (388,759) December 31, 2022 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available-for-Sale: U.S. Government and agency obligations $ 33,407 $ (882) $ 16,732 $ (362) $ 50,139 $ (1,244) Municipal bonds 188,920 (25,592) 33,907 (15,178) 222,827 (40,770) Corporate bonds 108,187 (9,547) 13,066 (1,934) 121,253 (11,481) Mortgage-backed or related securities 930,566 (90,537) 1,159,110 (276,184) 2,089,676 (366,721) Asset-backed securities 201,437 (10,993) — — 201,437 (10,993) $ 1,462,517 $ (137,551) $ 1,222,815 $ (293,658) $ 2,685,332 $ (431,209) At March 31, 2023, there were 259 securities—available-for-sale with unrealized losses, compared to 298 at December 31, 2022. Management does not believe that any individual unrealized loss as of March 31, 2023 or December 31, 2022 resulted from credit loss. The decline in fair market value of these securities was generally due to changes in interest rates and changes in market-desired spreads subsequent to their purchase. There were no sales of securities—trading during the three months ended March 31, 2023 or 2022. There were no securities—trading in a nonaccrual status at March 31, 2023 or December 31, 2022. Net unrealized holding losses of $103,000 were recognized during the three months ended March 31, 2023 compared to $373,000 of net unrealized holding gains recognized during the three months ended March 31, 2022. The following table presents gross gains and losses on sales and partial calls of securities available-for-sale (in thousands): Three Months Ended 2023 2022 Available-for-Sale: Gross Gains $ 232 $ 436 Gross Losses (7,484) (1) Balance, end of the period $ (7,252) $ 435 There were no securities—available-for-sale in a nonaccrual status at March 31, 2023 or December 31, 2022. The following table presents the amortized cost and estimated fair value of securities at March 31, 2023, by contractual maturity and does not reflect any required periodic payments (in thousands). Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties. March 31, 2023 Trading Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Maturing within one year $ — $ — $ 8,110 $ 8,029 $ 22,368 $ 22,157 Maturing after one year through five years — — 207,623 192,942 22,945 22,417 Maturing after five years through ten years — — 471,431 422,224 25,643 24,866 Maturing after ten years 27,203 28,591 2,353,047 2,030,665 1,039,003 887,622 $ 27,203 $ 28,591 $ 3,040,211 $ 2,653,860 $ 1,109,959 $ 957,062 The following table presents, as of March 31, 2023, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands): March 31, 2023 Carrying Value Amortized Cost Fair Value Purpose or beneficiary: State and local governments public deposits $ 238,597 $ 240,736 $ 216,883 Federal Reserve 120,463 120,463 103,769 Interest rate swap counterparties 6,422 6,807 6,268 Repurchase transaction accounts 317,761 317,761 266,592 Other 2,435 2,435 2,413 Total pledged securities $ 685,678 $ 688,202 $ 595,925 The Company monitors the credit quality of held-to-maturity debt securities through the use of credit ratings which are reviewed and updated quarterly. The Company’s non-rated held-to-maturity debt securities are primarily United States government sponsored enterprise debentures carrying minimal to no credit risk. The non-rated corporate bonds primarily consist of Community Reinvestment Act related bonds secured by loan instruments from low to moderate income borrowers. The remaining non-rated held-to-maturity debt securities balance is comprised of local municipal debt from within the Company’s geographic footprint and is monitored through quarterly or annual financial review. This municipal debt is predominately essential service or unlimited general obligation backed debt. The following tables summarize the amortized cost of held-to-maturity debt securities by credit rating at March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total AAA/AA/A $ — $ 491,252 $ 500 $ 16,626 $ 508,378 Not Rated 310 10,109 2,429 588,733 601,581 $ 310 $ 501,361 $ 2,929 $ 605,359 $ 1,109,959 December 31, 2022 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total AAA/AA/A $ — $ 492,105 $ 500 $ 16,681 $ 509,286 Not Rated 312 11,012 2,461 594,896 608,681 $ 312 $ 503,117 $ 2,961 $ 611,577 $ 1,117,967 |
LOANS RECEIVABLE AND THE ALLOWA
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES | 3 Months Ended |
Mar. 31, 2023 | |
Receivables [Abstract] | |
LOANS RECEIVABLE AND THE ALLOWANCE FOR LOAN LOSSES | The following table presents the loans receivable at March 31, 2023 and December 31, 2022 by class (dollars in thousands). March 31, 2023 December 31, 2022 Amount Percent of Total Amount Percent of Total Commercial real estate: Owner-occupied $ 865,705 8.5 % $ 845,320 8.3 % Investment properties 1,520,261 15.0 1,589,975 15.7 Small balance CRE 1,179,749 11.6 1,200,251 11.8 Multifamily real estate 696,864 6.8 645,071 6.4 Construction, land and land development: Commercial construction 191,051 1.9 184,876 1.8 Multifamily construction 362,425 3.6 325,816 3.2 One- to four-family construction 584,655 5.8 647,329 6.4 Land and land development 329,438 3.2 328,475 3.2 Commercial business: Commercial business (1) 1,266,047 12.5 1,283,407 12.7 Small business scored 960,650 9.4 947,092 9.3 Agricultural business, including secured by farmland (2) 272,707 2.7 295,077 2.9 One- to four-family residential 1,252,104 12.3 1,173,112 11.6 Consumer: Consumer—home equity revolving lines of credit 564,334 5.6 566,291 5.6 Consumer—other 114,694 1.1 114,632 1.1 Total loans 10,160,684 100.0 % 10,146,724 100.0 % Less allowance for credit losses – loans (141,457) (141,465) Net loans $ 10,019,227 $ 10,005,259 (1) Includes $5.6 million and $7.6 million of U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) loans as of March 31, 2023 and December 31, 2022, respectively. (2) Includes $330,000 of SBA PPP loans as of March 31, 2023 and $334,000 as of December 31, 2022. Loan amounts are net of unearned loan fees in excess of unamortized costs of $8.0 million as of March 31, 2023 and $8.1 million as of December 31, 2022. Net loans include net discounts on acquired loans of $6.1 million and $6.6 million as of March 31, 2023 and December 31, 2022, respectively. Net loans does not include accrued interest receivable. Accrued interest receivable on loans was $35.6 million as of March 31, 2023 and $39.8 million as of December 31, 2022 and was reported in accrued interest receivable on the Consolidated Statements of Financial Condition. The Company had pledged $6.5 billion of loans as collateral for FHLB and other borrowings at both March 31, 2023 and December 31, 2022. Purchased credit-deteriorated and purchased non-credit-deteriorated loans. Loans acquired in business combinations are recorded at their fair value at the acquisition date. Acquired loans are evaluated upon acquisition and classified as either purchased credit-deteriorated (PCD) or purchased non-credit-deteriorated. There were no PCD loans acquired during the three months ended March 31, 2023 or March 31, 2022. Troubled Loan Modifications. Occasionally, the Company offers modifications of loans to borrowers experiencing financial difficulty by providing principal forgiveness, interest rate reductions, other-than-insignificant payment delays, term extensions or any combination of these. When principal forgiveness is provided, the amount of the forgiveness is charged-off against the allowance for credit losses - loans. Upon the Company’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses - loans is adjusted by the same amount. The following tables present the Company’s portfolio of risk-rated loans by class and by grade as of March 31, 2023 and December 31, 2022 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Commercial real estate - owner occupied Risk Rating Pass $ 33,565 $ 160,079 $ 190,447 $ 141,823 $ 72,672 $ 200,153 $ 25,434 $ 824,173 Special Mention — — — — — 41 — 41 Substandard 1,771 10,278 — 11,998 16,991 253 200 41,491 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - owner occupied $ 35,336 $ 170,357 $ 190,447 $ 153,821 $ 89,663 $ 200,447 $ 25,634 $ 865,705 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate - investment properties Risk Rating Pass $ 33,547 $ 181,326 $ 296,106 $ 127,945 $ 180,315 $ 673,599 $ 23,147 $ 1,515,985 Special Mention — — — — — — — — Substandard — — — — — 2,980 1,296 4,276 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - investment properties $ 33,547 $ 181,326 $ 296,106 $ 127,945 $ 180,315 $ 676,579 $ 24,443 $ 1,520,261 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Multifamily real estate Risk Rating Pass $ 38,932 $ 149,727 $ 177,809 $ 100,126 $ 46,210 $ 182,443 $ 1,617 $ 696,864 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily real estate $ 38,932 $ 149,727 $ 177,809 $ 100,126 $ 46,210 $ 182,443 $ 1,617 $ 696,864 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Commercial construction Risk Rating Pass $ 43,742 $ 83,325 $ 38,168 $ 12,890 $ 4,229 $ 1,077 $ — $ 183,431 Special Mention — — — — — — — — Substandard 2,933 — — — — 4,687 — 7,620 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial construction $ 46,675 $ 83,325 $ 38,168 $ 12,890 $ 4,229 $ 5,764 $ — $ 191,051 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Multifamily construction Risk Rating Pass $ 28,035 $ 155,074 $ 165,128 $ 12,770 $ 1,418 $ — $ — $ 362,425 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily construction $ 28,035 $ 155,074 $ 165,128 $ 12,770 $ 1,418 $ — $ — $ 362,425 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — One- to four- family construction Risk Rating Pass $ 167,004 $ 376,272 $ 30,106 $ 137 $ 331 $ — $ 595 $ 574,445 Special Mention — — — — — — — — Substandard 6,240 — 3,970 — — — — 10,210 Doubtful — — — — — — — — Loss — — — — — — — — Total One- to four- family construction $ 173,244 $ 376,272 $ 34,076 $ 137 $ 331 $ — $ 595 $ 584,655 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Land and land development Risk Rating Pass $ 63,156 $ 151,355 $ 75,204 $ 15,861 $ 10,754 $ 11,993 $ 339 $ 328,662 Special Mention — — — — — — — — Substandard 604 — — — — 172 — 776 Doubtful — — — — — — — — Loss — — — — — — — — Total Land and land development $ 63,760 $ 151,355 $ 75,204 $ 15,861 $ 10,754 $ 12,165 $ 339 $ 329,438 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial business Risk Rating Pass $ 49,403 $ 249,239 $ 141,427 $ 153,697 $ 121,717 $ 160,236 $ 354,670 $ 1,230,389 Special Mention — 64 — 3,372 — — — 3,436 Substandard — 827 12,712 2,861 1,109 7,625 7,088 32,222 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial business $ 49,403 $ 250,130 $ 154,139 $ 159,930 $ 122,826 $ 167,861 $ 361,758 $ 1,266,047 Current period gross charge-offs $ — $ — $ 581 $ — $ — $ 25 $ 9 $ 615 Agricultural business, including secured by farmland Risk Rating Pass $ 9,494 $ 37,948 $ 32,956 $ 18,667 $ 27,705 $ 49,079 $ 82,499 $ 258,348 Special Mention — — 302 271 — — — 573 Substandard 1,554 2,010 970 — 6,565 2,588 99 13,786 Doubtful — — — — — — — — Loss — — — — — — — — Total Agricultural business, including secured by farmland $ 11,048 $ 39,958 $ 34,228 $ 18,938 $ 34,270 $ 51,667 $ 82,598 $ 272,707 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Commercial real estate - owner occupied Risk Rating Pass $ 167,150 $ 198,787 $ 150,272 $ 74,171 $ 57,095 $ 148,902 $ 10,833 $ 807,210 Special Mention — — — 2,829 — 42 201 3,072 Substandard 13,756 — 7,211 13,564 — 307 200 35,038 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - owner occupied $ 180,906 $ 198,787 $ 157,483 $ 90,564 $ 57,095 $ 149,251 $ 11,234 $ 845,320 Commercial real estate - investment properties Risk Rating Pass $ 190,627 $ 323,160 $ 142,476 $ 182,853 $ 169,667 $ 547,899 $ 25,691 $ 1,582,373 Special Mention — — — — — — — — Substandard — — — 3,283 — 3,007 1,312 7,602 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - investment properties $ 190,627 $ 323,160 $ 142,476 $ 186,136 $ 169,667 $ 550,906 $ 27,003 $ 1,589,975 Multifamily real estate Risk Rating Pass $ 139,383 $ 177,784 $ 93,961 $ 46,460 $ 29,665 $ 156,140 $ 1,678 $ 645,071 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily real estate $ 139,383 $ 177,784 $ 93,961 $ 46,460 $ 29,665 $ 156,140 $ 1,678 $ 645,071 December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Commercial construction Risk Rating Pass $ 112,229 $ 46,679 $ 12,952 $ 4,260 $ 1,107 $ — $ — $ 177,227 Special Mention — — — — — — — — Substandard 2,931 1 — — 4,717 — — 7,649 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial construction $ 115,160 $ 46,680 $ 12,952 $ 4,260 $ 5,824 $ — $ — $ 184,876 Multifamily construction Risk Rating Pass $ 142,680 $ 161,066 $ 20,622 $ 1,448 $ — $ — $ — $ 325,816 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily construction $ 142,680 $ 161,066 $ 20,622 $ 1,448 $ — $ — $ — $ 325,816 One- to four- family construction Risk Rating Pass $ 572,701 $ 56,530 $ 677 $ 331 $ — $ — $ 711 $ 630,950 Special Mention — — — — — — — — Substandard 13,473 2,906 — — — — — 16,379 Doubtful — — — — — — — — Loss — — — — — — — — Total One- to four- family construction $ 586,174 $ 59,436 $ 677 $ 331 $ — $ — $ 711 $ 647,329 December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Land and land development Risk Rating Pass $ 199,339 $ 88,066 $ 16,278 $ 11,866 $ 6,242 $ 6,164 $ 339 $ 328,294 Special Mention — — — — — — — — Substandard — — — — 97 84 — 181 Doubtful — — — — — — — — Loss — — — — — — — — Total Land and land development $ 199,339 $ 88,066 $ 16,278 $ 11,866 $ 6,339 $ 6,248 $ 339 $ 328,475 Commercial business Risk Rating Pass $ 249,609 $ 149,140 $ 161,494 $ 126,416 $ 86,712 $ 85,386 $ 391,852 $ 1,250,609 Special Mention 74 26 3,467 — — — 200 3,767 Substandard 464 12,599 1,956 1,161 5,954 796 6,101 29,031 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial business $ 250,147 $ 161,765 $ 166,917 $ 127,577 $ 92,666 $ 86,182 $ 398,153 $ 1,283,407 Agricultural business, including secured by farmland Risk Rating Pass $ 36,848 $ 35,440 $ 18,946 $ 28,354 $ 24,710 $ 27,063 $ 109,606 $ 280,967 Special Mention — 336 271 — — — 357 964 Substandard 2,015 970 — 6,565 — 2,599 997 13,146 Doubtful — — — — — — — — Loss — — — — — — — — Total Agricultural business, including secured by farmland $ 38,863 $ 36,746 $ 19,217 $ 34,919 $ 24,710 $ 29,662 $ 110,960 $ 295,077 The following tables present the Company’s portfolio of non-risk-rated loans by class and delinquency status as of March 31, 2023 and December 31, 2022 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Small balance CRE Past Due Category Current $ 27,002 $ 173,956 $ 217,436 $ 175,592 $ 125,339 $ 457,810 $ 517 $ 1,177,652 30-59 Days Past Due — — — 445 169 1,481 — 2,095 60-89 Days Past Due — — — — — — — — 90 Days + Past Due — — — — — 2 — 2 Total Small balance CRE $ 27,002 $ 173,956 $ 217,436 $ 176,037 $ 125,508 $ 459,293 $ 517 $ 1,179,749 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Small business scored Past Due Category Current $ 49,647 $ 298,194 $ 192,903 $ 95,064 $ 75,968 $ 124,084 $ 120,923 $ 956,783 30-59 Days Past Due — 590 485 526 — 103 239 1,943 60-89 Days Past Due — — 22 — 37 17 239 315 90 Days + Past Due — — 177 93 676 497 166 1,609 Total Small business scored $ 49,647 $ 298,784 $ 193,587 $ 95,683 $ 76,681 $ 124,701 $ 121,567 $ 960,650 Current period gross charge-offs $ — $ 42 $ 49 $ 107 $ 202 $ 143 $ — $ 543 One- to four- family residential Past Due Category Current $ 83,243 $ 568,763 $ 272,265 $ 59,437 $ 32,785 $ 223,049 $ 643 $ 1,240,185 30-59 Days Past Due — — 1,041 664 1,325 1,859 — 4,889 60-89 Days Past Due 1,060 240 — — — 436 — 1,736 90 Days + Past Due — — 1,816 759 711 2,008 — 5,294 Total One- to four- family residential $ 84,303 $ 569,003 $ 275,122 $ 60,860 $ 34,821 $ 227,352 $ 643 $ 1,252,104 Current period gross charge-offs $ — $ — $ — $ — $ — $ 30 $ — $ 30 March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 5,065 $ 2,216 $ 1,534 $ 1,186 $ 1,434 $ 5,484 $ 543,138 $ 560,057 30-59 Days Past Due — — — 72 20 314 1,094 1,500 60-89 Days Past Due — — 151 — — 396 126 673 90 Days + Past Due — — 50 1,115 532 407 — 2,104 Total Consumer—home equity revolving lines of credit $ 5,065 $ 2,216 $ 1,735 $ 2,373 $ 1,986 $ 6,601 $ 544,358 $ 564,334 Current period gross charge-offs $ — $ — $ 13 $ — $ — $ 15 $ — $ 28 Consumer-other Past Due Category Current $ 4,215 $ 37,789 $ 11,467 $ 8,306 $ 5,061 $ 20,780 $ 26,691 $ 114,309 30-59 Days Past Due — 43 2 44 12 78 107 286 60-89 Days Past Due — — 19 1 5 2 54 81 90 Days + Past Due — — — 18 — — — 18 Total Consumer-other $ 4,215 $ 37,832 $ 11,488 $ 8,369 $ 5,078 $ 20,860 $ 26,852 $ 114,694 Current period gross charge-offs $ — $ 19 $ 20 $ 4 $ 20 $ 39 $ 162 $ 264 December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Small balance CRE Past Due Category Current $ 177,605 $ 215,801 $ 172,286 $ 134,552 $ 142,592 $ 354,924 $ 630 $ 1,198,390 30-59 Days Past Due — — 460 — — 1,399 — 1,859 60-89 Days Past Due — — — — — — — — 90 Days + Past Due — — — — — 2 — 2 Total Small balance CRE $ 177,605 $ 215,801 $ 172,746 $ 134,552 $ 142,592 $ 356,325 $ 630 $ 1,200,251 Small business scored Past Due Category Current $ 307,109 $ 201,628 $ 99,867 $ 81,603 $ 56,420 $ 78,025 $ 119,281 $ 943,933 30-59 Days Past Due 146 518 54 262 46 280 173 1,479 60-89 Days Past Due — 54 — 275 149 7 176 661 90 Days + Past Due — — 26 157 70 305 461 1,019 Total Small business scored $ 307,255 $ 202,200 $ 99,947 $ 82,297 $ 56,685 $ 78,617 $ 120,091 $ 947,092 One- to four- family residential Past Due Category Current $ 555,833 $ 279,331 $ 59,672 $ 34,607 $ 37,740 $ 191,890 $ 1,335 $ 1,160,408 30-59 Days Past Due 2,030 846 755 — 116 1,462 78 5,287 60-89 Days Past Due 1,060 — — — 115 1,067 — 2,242 90 Days + Past Due — 1,819 973 712 94 1,577 — 5,175 Total One- to four- family residential $ 558,923 $ 281,996 $ 61,400 $ 35,319 $ 38,065 $ 195,996 $ 1,413 $ 1,173,112 December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 7,442 $ 1,089 $ 329 $ 1,355 $ 1,611 $ 3,788 $ 547,068 $ 562,682 30-59 Days Past Due 49 40 75 — 74 214 1,372 1,824 60-89 Days Past Due — 50 — — 49 45 59 203 90 Days + Past Due — 14 73 476 64 675 280 1,582 Total Consumer—home equity revolving lines of credit $ 7,491 $ 1,193 $ 477 $ 1,831 $ 1,798 $ 4,722 $ 548,779 $ 566,291 Consumer-other Past Due Category Current $ 39,740 $ 12,138 $ 9,334 $ 5,695 $ 5,384 $ 16,675 $ 25,219 $ 114,185 30-59 Days Past Due 49 — 16 5 2 67 120 259 60-89 Days Past Due 41 9 29 24 — 13 62 178 90 Days + Past Due — 10 — — — — — 10 Total Consumer-other $ 39,830 $ 12,157 $ 9,379 $ 5,724 $ 5,386 $ 16,755 $ 25,401 $ 114,632 The following tables provide the amortized cost basis of collateral-dependent loans as of March 31, 2023 and December 31, 2022 (in thousands). Our collateral dependent loans presented in the tables below have no significant concentrations by property type or location. March 31, 2023 Real Estate Equipment Inventory Total Small balance CRE $ 2,167 $ — $ — $ 2,167 Commercial business Commercial business 316 4,543 9 4,868 Small business scored — 243 — 243 Agricultural business, including secured by farmland 3,242 93 145 3,480 One- to four-family residential 2,679 — — 2,679 Consumer—home equity revolving lines of credit 818 — — 818 Total $ 9,222 $ 4,879 $ 154 $ 14,255 December 31, 2022 Real Estate Equipment Total Small balance CRE $ 2,953 $ — $ 2,953 Commercial business Commercial business — 4,537 4,537 Small business scored — 307 307 One- to four-family residential 1,622 — 1,622 Total $ 4,575 $ 4,844 $ 9,419 The following tables provide additional detail on the age analysis of the Company’s past due loans as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 30-59 Days 60-89 Days 90 Days or More Total Current Total Loans Non-accrual with no Allowance Total Non-accrual (1) Loans 90 Days or More Past Due and Accruing Commercial real estate: Owner-occupied $ — $ — $ — $ — $ 865,705 $ 865,705 $ — $ 100 $ — Investment properties — — — — 1,520,261 1,520,261 — — — Small balance CRE 2,095 — 2 2,097 1,177,652 1,179,749 2,138 2,715 — Multifamily real estate — — — — 696,864 696,864 — — — Construction, land and land development: Commercial construction — — — — 191,051 191,051 — — — Multifamily construction — — — — 362,425 362,425 — — — One- to four-family construction 1,756 — — 1,756 582,899 584,655 — — — Land and land development 682 — 96 778 328,660 329,438 — 172 — Commercial business: Commercial business 885 132 6,492 7,509 1,258,538 1,266,047 6,751 7,315 — Small business scored 1,943 315 1,609 3,867 956,783 960,650 239 2,050 — Agricultural business, including secured by farmland 2,173 1,648 842 4,663 268,044 272,707 4,074 4,074 — One- to four-family residential 4,889 1,736 5,294 11,919 1,240,185 1,252,104 2,621 6,789 445 Consumer: Consumer—home equity revolving lines of credit 1,500 673 2,104 4,277 560,057 564,334 — 2,243 852 Consumer—other 286 81 18 385 114,309 114,694 — 4 13 Total $ 16,209 $ 4,585 $ 16,457 $ 37,251 $ 10,123,433 $ 10,160,684 $ 15,823 $ 25,462 $ 1,310 December 31, 2022 30-59 Days 60-89 Days 90 Days or More Total Current Total Loans Non-accrual with no Allowance Total Non-accrual (1) Loans 90 Days or More Past Due and Accruing Commercial real estate: Owner-occupied $ — $ — $ — $ — $ 845,320 $ 845,320 $ — $ 143 $ — Investment properties — — — — 1,589,975 1,589,975 — — — Small balance CRE 1,859 — 2 1,861 1,198,390 1,200,251 2,927 3,540 — Multifamily real estate — — — — 645,071 645,071 — — — Construction, land and land development: Commercial construction — — — — 184,876 184,876 — — — Multifamily construction — — — — 325,816 325,816 — — — One- to four-family construction 900 — — 900 646,429 647,329 — — — Land and land development 921 — 97 1,018 327,457 328,475 — 181 — Commercial business: Commercial business 2,100 4,145 649 6,894 1,276,513 1,283,407 6,998 7,356 — Small business scored 1,479 661 1,019 3,159 943,933 947,092 303 2,530 — Agricultural business, including secured by farmland 1,185 — 594 1,779 293,298 295,077 594 594 — One-to four-family residential 5,287 2,242 5,175 12,704 1,160,408 1,173,112 1,569 5,236 1,023 Consumer: Consumer—home equity revolving lines of credit 1,824 203 1,582 3,609 562,682 566,291 — 2,124 254 Consumer—other 259 178 10 447 114,185 114,632 — 2 10 Total $ 15,814 $ 7,429 $ 9,128 $ 32,371 $ 10,114,353 $ 10,146,724 $ 12,391 $ 21,706 $ 1,287 (1) The Company did not recognize any interest income on non-accrual loans during the three months ended March 31, 2023 or the year ended December 31, 2022. The following tables provide the activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2023 and 2022 (in thousands): For the Three Months Ended March 31, 2023 Commercial Real Estate Multifamily Real Estate Construction and Land Commercial Business Agricultural Business One- to Four-Family Residential Consumer Total Allowance for credit losses: Beginning balance $ 44,086 $ 7,734 $ 29,171 $ 33,299 $ 3,475 $ 14,729 $ 8,971 $ 141,465 (Recapture)/provision for credit losses (1,295) 741 (738) 1,475 (490) 920 161 774 Recoveries 184 — — 119 109 117 169 698 Charge-offs — — — (1,158) — (30) (292) (1,480) Ending balance $ 42,975 $ 8,475 $ 28,433 $ 33,735 $ 3,094 $ 15,736 $ 9,009 $ 141,457 For the Three Months Ended March 31, 2022 Commercial Real Estate Multifamily Real Estate Construction and Land Commercial Business Agricultural Business One- to Four-Family Residential Consumer Total Allowance for credit losses: Beginning balance $ 52,995 $ 7,043 $ 27,294 $ 26,421 $ 3,190 $ 8,205 $ 6,951 $ 132,099 (Recapture)/provision for credit losses (5,816) 140 (994) 167 (722) (136) (15) (7,376) Recoveries 87 — 384 149 118 40 216 994 Charge-offs (2) — (5) (82) — — (157) (246) Ending balance $ 47,264 $ 7,183 $ 26,679 $ 26,655 $ 2,586 $ 8,109 $ 6,995 $ 125,471 |
GOODWILL, OTHER INTANGIBLE ASSE
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS | 3 Months Ended |
Mar. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS | Goodwill and Other Intangible Assets: At March 31, 2023, intangible assets are comprised of goodwill and CDI acquired in business combinations. Goodwill represents the excess of the purchase consideration paid over the fair value of the assets acquired, net of the fair values of liabilities assumed in a business combination, and is not amortized but is reviewed at least annually for impairment. The Company has identified one reporting unit for the purpose of evaluating goodwill for impairment. The Company completed an assessment of qualitative factors as of December 31, 2022 and concluded that no further analysis was required as it is more likely than not that the fair value of Banner Bank, the reporting unit, exceeds the carrying value. CDI represents the value of transaction-related deposits and the value of the client relationships associated with the deposits. The Company amortizes CDI assets over their estimated useful lives and reviews them at least annually for events or circumstances that could impair their value. The following table summarizes the changes in the Company’s goodwill and other intangibles for the three months ended March 31, 2023 and the year ended December 31, 2022 (in thousands): Goodwill CDI Total Balance, December 31, 2021 $ 373,121 $ 14,855 $ 387,976 Amortization — (5,279) (5,279) Other changes (1) — (136) (136) Balance, December 31, 2022 373,121 9,440 382,561 Amortization — (1,050) (1,050) Balance, March 31, 2023 $ 373,121 $ 8,390 $ 381,511 (1) Acquired CDI was adjusted for the sale of branches in 2022. The following table presents the estimated amortization expense with respect to CDI as of March 31, 2023 for the periods indicated (in thousands): Estimated Amortization Remainder of 2023 $ 2,706 2024 2,626 2025 1,567 2026 904 2027 426 Thereafter 161 $ 8,390 Mortgage Servicing Rights: Mortgage and SBA servicing rights are reported in other assets. SBA servicing rights are initially recorded and carried at fair value. Mortgage servicing rights are initially recognized at fair value and are amortized in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. Mortgage servicing rights are subsequently evaluated for impairment based upon the fair value of the rights compared to the amortized cost (remaining unamortized initial fair value). If the fair value is less than the amortized cost, a valuation allowance is created through an impairment charge to servicing fee income. However, if the fair value is greater than the amortized cost, the amount above the amortized cost is not recognized in the carrying value. During the three months ended March 31, 2023 and 2022, the Company did not record any impairment charges or recoveries against mortgage servicing rights. The unpaid principal balance of loans for which mortgage and SBA servicing rights have been recognized totaled $2.74 billion and $2.77 billion at March 31, 2023 and December 31, 2022, respectively. Custodial accounts maintained in connection with this servicing totaled $22.6 million and $11.2 million at March 31, 2023 and December 31, 2022, respectively. An analysis of the mortgage and SBA servicing rights for the three months ended March 31, 2023 and 2022 is presented below (in thousands): Three Months Ended 2023 2022 Balance, beginning of the period $ 16,166 $ 17,206 Additions—amounts capitalized 136 1,953 Additions—through purchase 39 62 Amortization (1) (847) (1,231) Fair value adjustments (3) 119 18 Balance, end of the period (2) $ 15,613 $ 18,008 (1) Amortization of mortgage servicing rights is recorded as a reduction of loan servicing income within mortgage banking operations and any unamortized balance is fully amortized if the loan repays in full. (2) There was no valuation allowance on mortgage servicing rights as of both March 31, 2023 and 2022. (3) Fair value adjustments relate to SBA servicing rights. These adjustments are estimated based on an independent dealer analysis by discounting estimated net future cash flows from servicing SBA loans. |
DEPOSITS
DEPOSITS | 3 Months Ended |
Mar. 31, 2023 | |
Banking and Thrift, Other Disclosure [Abstract] | |
DEPOSITS | Deposits consisted of the following at March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 December 31, 2022 Non-interest-bearing accounts $ 5,764,009 $ 6,176,998 Interest-bearing checking 1,794,477 1,811,153 Regular savings accounts 2,502,084 2,710,090 Money market accounts 2,143,700 2,198,288 Total interest-bearing transaction and saving accounts 6,440,261 6,719,531 Certificates of deposit: Certificates of deposit greater than or equal to $250,000 314,506 178,324 Certificates of deposit less than $250,000 635,426 545,206 Total certificates of deposit 949,932 723,530 Total deposits $ 13,154,202 $ 13,620,059 Included in total deposits: Public fund transaction and savings accounts $ 361,837 $ 392,859 Public fund interest-bearing certificates 26,857 26,810 Total public deposits $ 388,694 $ 419,669 Scheduled maturities and weighted average interest rates of certificates of deposit at March 31, 2023 are as follows (dollars in thousands): March 31, 2023 Amount Weighted Average Rate Maturing in one year or less $ 767,151 1.99 % Maturing after one year through two years 143,143 2.21 Maturing after two years through three years 26,638 0.56 Maturing after three years through four years 7,165 0.37 Maturing after four years through five years 4,768 0.45 Maturing after five years 1,067 0.82 Total certificates of deposit $ 949,932 1.97 % |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE ACCOUNTING AND MEASUREMENT | The following table presents estimated fair values of the Company’s financial instruments as of March 31, 2023 and December 31, 2022, whether or not recognized or recorded in the Consolidated Statements of Financial Condition (dollars in thousands): March 31, 2023 December 31, 2022 Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Assets: Cash and cash equivalents 1 $ 242,992 $ 242,992 $ 243,062 $ 243,062 Securities—trading 3 28,591 28,591 28,694 28,694 Securities—available-for-sale 2 2,653,860 2,653,860 2,789,031 2,789,031 Securities—held-to-maturity 2 1,102,122 949,214 1,109,319 933,513 Securities—held-to-maturity 3 7,837 7,848 8,648 8,667 Securities purchased under agreements to resell 2 150,000 150,000 300,000 300,000 Loans held for sale 2 49,016 49,053 56,857 56,948 Loans receivable, net 3 10,019,227 9,724,399 10,005,259 9,810,965 Equity securities 1 624 624 553 553 FHLB stock 3 16,800 16,800 12,000 12,000 Bank-owned life insurance 1 299,754 299,754 297,565 297,565 Mortgage servicing rights 3 14,659 33,555 15,331 35,148 SBA servicing rights 3 954 954 835 835 Investments in limited partnerships 3 12,394 12,394 12,427 12,427 Derivatives: Interest rate swaps 2 15,342 15,342 19,339 19,339 Interest rate lock and forward sales commitments 2,3 534 534 142 142 Liabilities: Demand, interest checking and money market accounts 2 9,702,186 9,702,186 10,186,439 10,186,439 Regular savings 2 2,502,084 2,502,084 2,710,090 2,710,090 Certificates of deposit 2 949,932 929,724 723,530 702,581 FHLB advances 2 170,000 170,000 50,000 50,000 Other borrowings 2 214,564 214,564 232,799 232,799 Subordinated notes, net 2 99,046 95,470 98,947 96,718 Junior subordinated debentures 3 74,703 74,703 74,857 74,857 Derivatives: Interest rate swaps 2 28,858 28,858 37,150 37,150 Interest rate lock and forward sales commitments 2,3 136 136 118 118 Risk participation agreement 2 85 85 67 67 The Company measures and discloses certain assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (that is, not a forced liquidation or distressed sale). When measuring fair value, management will maximize the use of observable inputs and minimize the use of unobservable inputs whenever possible. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s estimates for market assumptions. The estimated fair value amounts of financial instruments have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize at a future date. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. In addition, reasonable comparability between financial institutions may not be likely due to the wide range of permitted valuation techniques and numerous estimates that must be made given the absence of active secondary markets for many of the financial instruments. This lack of uniform valuation methodologies also introduces a greater degree of subjectivity to these estimated fair values. Items Measured at Fair Value on a Recurring Basis: The following tables present financial assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets and liabilities as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 Level 1 Level 2 Level 3 Total Assets: Securities—trading Corporate bonds (Trust Preferred Securities) $ — $ — $ 28,591 $ 28,591 Securities—available-for-sale U.S. Government and agency obligations — 52,588 — 52,588 Municipal bonds — 173,721 — 173,721 Corporate bonds — 117,404 — 117,404 Mortgage-backed or related securities — 2,092,209 — 2,092,209 Asset-backed securities — 217,938 — 217,938 — 2,653,860 — 2,653,860 Loans held for sale (1) — 5,485 — 5,485 Equity securities 624 — — 624 SBA servicing rights — — 954 954 Investment in limited partnerships — — 12,394 12,394 Derivatives Interest rate swaps — 15,342 — 15,342 Interest rate lock and forward sales commitments — 49 485 534 $ 624 $ 2,674,736 $ 42,424 $ 2,717,784 Liabilities: Junior subordinated debentures $ — $ — $ 74,703 $ 74,703 Derivatives Interest rate swaps — 28,858 — 28,858 Interest rate lock and forward sales commitments — 131 5 136 Risk participation agreement — 85 — 85 $ — $ 29,074 $ 74,708 $ 103,782 December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Securities—trading Corporate bonds (Trust Preferred Securities) $ — $ — $ 28,694 $ 28,694 Securities—available-for-sale U.S. Government and agency obligations — 55,108 — 55,108 Municipal bonds — 261,209 — 261,209 Corporate bonds — 121,853 — 121,853 Mortgage-backed or related securities — 2,139,336 — 2,139,336 Asset-backed securities — 211,525 — 211,525 — 2,789,031 — 2,789,031 Loans held for sale (1) — 2,305 — 2,305 Equity securities 553 — — 553 SBA servicing rights — — 835 835 Investment in limited partnerships — — 12,427 12,427 Derivatives Interest rate swaps — 19,339 — 19,339 Interest rate lock and forward sales commitments — 61 81 142 $ 553 $ 2,810,736 $ 42,037 $ 2,853,326 Liabilities: Junior subordinated debentures $ — $ — $ 74,857 $ 74,857 Derivatives Interest rate swaps — 37,150 — 37,150 Interest rate lock and forward sales commitments — 76 42 118 Risk participation agreement — 67 — 67 $ — $ 37,293 $ 74,899 $ 112,192 (1) The unpaid principal balance of residential mortgage loans held for sale carried at fair value on a recurring basis was $5.3 million and $2.2 million at March 31, 2023 and December 31, 2022, respectively. The following methods were used to estimate the fair value of each class of financial instruments above: Securities: The estimated fair values of investment securities and mortgaged-backed securities are priced using current active market quotes, if available, which are considered Level 1 measurements. For most of the portfolio, matrix pricing based on the securities’ relationship to other benchmark quoted prices is used to establish the fair value. These measurements are considered Level 2. Due to the continued limited activity in the trust preferred markets that have limited the observability of market spreads for some of the Company’s trust preferred securities (TPS), management has classified these securities as a Level 3 fair value measure. Management periodically reviews the pricing information received from third-party pricing services and tests those prices against other sources to validate the reported fair values. Loans Held for Sale: Fair values for residential mortgage loans held for sale are determined by comparing actual loan rates to current secondary market prices for similar loans. Equity Securities: Equity securities are invested in a publicly traded stock. The fair value of these securities is based on daily quoted market prices. SBA Servicing Rights: Fair values are estimated based on an independent dealer analysis by discounting estimated net future cash flows from servicing. The evaluation utilizes assumptions market participants would use in determining fair value including prepayment speeds, delinquency and foreclosure rates, the discount rate, servicing costs, and the timing of cash flows. The SBA servicing portfolio is stratified by loan type and fair value estimates are adjusted up or down based on the serviced loan interest rates versus current rates on new loan originations since the most recent independent analysis. Junior Subordinated Debentures: The fair value of junior subordinated debentures is estimated using an income approach technique. The significant inputs included in the estimation of fair value are the credit risk adjusted spread and three month LIBOR. The credit risk adjusted spread represents the nonperformance risk of the liability. The Company utilizes an external valuation firm to validate the reasonableness of the credit risk adjusted spread used to determine the fair value. The junior subordinated debentures are carried at fair value which represents the estimated amount that would be paid to transfer these liabilities in an orderly transaction amongst market participants. Due to inactivity in the trust preferred markets that have limited the observability of market spreads, management has classified this as a Level 3 fair value measurement. Derivatives: Derivatives include interest rate swap agreements, interest rate lock commitments to originate loans held for sale, forward sales contracts to sell loans and securities related to mortgage banking activities and risk participation agreements. Fair values for these instruments, which generally change as a result of changes in the level of market interest rates, are estimated based on dealer quotes and secondary market sources. As the interest rate lock commitments use a pull-through rate that is considered an unobservable input, these derivatives are classified as a level 3 fair value measurement. Off-Balance Sheet Items: Off-balance sheet financial instruments include unfunded commitments to extend credit, including standby letters of credit, and commitments to purchase investment securities. The fair value of these instruments is not considered to be material. Limitations: The fair value estimates presented herein are based on pertinent information available to management as of March 31, 2023 and December 31, 2022. The factors used in the fair value estimates are subject to change subsequent to the dates the fair value estimates are completed, therefore, current estimates of fair value may differ significantly from the amounts presented herein. Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3): The following table provides a description of the valuation technique, unobservable inputs, and quantitative and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring and non-recurring basis at March 31, 2023 and December 31, 2022: Weighted Average Rate Financial Instruments Valuation Technique Unobservable Inputs March 31, 2023 December 31, 2022 Corporate bonds (TPS) Discounted cash flows Discount rate 8.79 % 8.27 % Junior subordinated debentures Discounted cash flows Discount rate 8.79 % 8.27 % Loans individually evaluated Collateral valuations Discount to appraised value n/a n/a REO Appraisals Discount to appraised value 68.35 % 68.35 % Interest rate lock commitments Pricing model Pull-through rate 86.60 % 78.65 % Investments in limited partnerships Net Asset Value Infrequent transactions n/a n/a SBA servicing rights Discounted cash flows Constant prepayment rate 14.22 % 14.10 % Trust preferred securities : Management believes that the credit risk-adjusted spread used to develop the discount rate utilized in the fair value measurement of TPS is indicative of the risk premium a willing market participant would require under current market conditions for instruments with similar contractual rates and terms and conditions and issuers with similar credit risk profiles and with similar expected probability of default. Management attributes the change in fair value of these instruments, compared to their par value, primarily to perceived general market adjustments to the risk premiums for these types of assets subsequent to their issuance. Junior subordinated debentures : Similar to the TPS discussed above, management believes that the credit risk-adjusted spread utilized in the fair value measurement of the junior subordinated debentures is indicative of the risk premium a willing market participant would require under current market conditions for an issuer with Banner’s credit risk profile. Management attributes the change in fair value of the junior subordinated debentures, compared to their par value, primarily to perceived general market adjustments to the risk premiums for these types of liabilities subsequent to their issuance. Future contractions in the risk adjusted spread relative to the spread currently utilized to measure the Company’s junior subordinated debentures at fair value as of March 31, 2023, or the passage of time, will result in negative fair value adjustments. At March 31, 2023, the discount rate utilized was based on a credit spread of 360 basis points and three-month LIBOR of 5.19 basis points. Interest rate lock commitments: The fair value of the interest rate lock commitments is based on secondary market sources adjusted for an estimated pull-through rate. The pull-through rate is based on historical loan closing rates for similar interest rate lock commitments. An increase or decrease in the pull-through rate would have a corresponding, positive or negative fair value adjustment. SBA servicing asset: The constant prepayment rate (CPR) is set based on industry data. An increase in the CPR would result in a negative fair value adjustment, where a decrease in CPR would result in a positive fair value adjustment. The following tables provide a reconciliation of the assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three months ended March 31, 2023 and 2022 (in thousands): Three Months Ended March 31, 2023 Level 3 Fair Value Inputs TPS Borrowings—Junior Subordinated Debentures Interest Rate Lock and Forward Sales Commitments Investments in Limited Partnerships SBA Servicing Asset Beginning balance $ 28,694 $ 74,857 $ 39 $ 12,427 $ 835 Net change recognized in earnings (103) — 441 (520) 119 Net change recognized in accumulated other comprehensive income (AOCI) — (154) — — — Purchases, issuances and settlements — — — 487 — Ending balance at March 31, 2023 $ 28,591 $ 74,703 $ 480 $ 12,394 $ 954 Three Months Ended March 31, 2022 Level 3 Fair Value Inputs TPS Borrowings—Junior Subordinated Debentures Interest Rate Lock and Forward Sales Commitments Investments in Limited Partnerships SBA Servicing Asset Beginning balance $ 26,981 $ 119,815 $ 1,467 $ 10,257 $ 1,161 Net change recognized in earnings 373 — (1,533) (217) 1 Net change recognized in AOCI — 1,213 — — — Purchases, issuances and settlements — — — 942 — Redemptions — (50,518) — — Ending balance at March 31, 2022 $ 27,354 $ 70,510 $ (66) $ 10,982 $ 1,162 Interest income and dividends from TPS are recorded as a component of interest income. Interest expense related to the junior subordinated debentures is measured based on contractual interest rates and reported in interest expense. The change in fair value of the junior subordinated debentures, which represents changes in instrument specific credit risk, is recorded in other comprehensive income. The change in fair value of TPS securities, investments in limited partnerships and the SBA servicing asset are recorded as a component of non-interest income. The change in fair value of the interest rate lock and forward sales commitments are included in mortgage banking operations in non-interest income. Items Measured at Fair Value on a Non-recurring Basis: The following tables present financial assets and liabilities measured at fair value on a non-recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 Level 1 Level 2 Level 3 Total Loans individually evaluated $ — $ — $ — $ — REO — — 340 340 Loans held for sale — 42,954 — 42,954 December 31, 2022 Level 1 Level 2 Level 3 Total Loans individually evaluated $ — $ — $ 1,883 $ 1,883 REO — — 340 340 Loans held for sale — 49,474 — 49,474 The following table presents the gains and losses resulting from non-recurring fair value adjustments for the three months ended March 31, 2023 and March 31, 2022 (in thousands): Three Months Ended March 31, 2023 2022 Loans individually evaluated $ — $ — REO — — Loans held for sale 295 (603) Total gain (loss) from non-recurring measurements $ 295 $ (603) Loans individually evaluated : Expected credit losses for loans evaluated individually are measured based on the present value of expected future cash flows discounted at the loan’s original effective interest rate or when the Bank determines that foreclosure is probable, the expected credit loss is measured based on the fair value of the collateral as of the reporting date, less estimated selling costs, as applicable. As a practical expedient, the Bank measures the expected credit loss for a loan using the fair value of the collateral, if repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty based on the Bank’s assessment as of the reporting date. In both cases, if the fair value of the collateral is less than the amortized cost basis of the loan, the Bank will recognize an allowance as the difference between the fair value of the collateral, less costs to sell (if applicable) and the amortized cost basis of the loan. If the fair value of the collateral exceeds the amortized cost basis of the loan, any expected recovery added to the amortized cost basis will be limited to the amount previously charged-off. Subsequent changes in the expected credit losses for loans evaluated individually are included within the provision for credit losses in the same manner in which the expected credit loss initially was recognized or as a reduction in the provision that would otherwise be reported. REO : The Company records REO (acquired through a lending relationship) at fair value on a non-recurring basis. Fair value adjustments on REO are based on updated real estate appraisals which are based on current market conditions. All REO properties are recorded at the lower of the estimated fair value of the real estate, less expected selling costs, or the carrying amount of the defaulted loans. From time to time, non-recurring fair value adjustments to REO are recorded to reflect partial write-downs based on an observable market price or current appraised value of property. Banner considers any valuation inputs related to REO to be Level 3 inputs. The individual carrying values of these assets are reviewed for impairment at least annually and any additional impairment charges are expensed. Loans held for sale : The multifamily held for sale loans are carried at the lower of cost or market value. Lower of cost or market adjustments for multifamily loans held for sale are calculated based on discounted cash flows using a discount rate that is a combination of market spreads for similar loan types added to selected index rates. If the fair value of the multifamily held for sale loans is lower than the amortized cost basis of the loans, a net unrealized loss is recognized through the valuation allowance as a charge against income. |
INCOME TAXES AND DEFERRED TAXES
INCOME TAXES AND DEFERRED TAXES | 3 Months Ended |
Mar. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES AND DEFERRED TAXES | The Company files a consolidated income tax return including all of its wholly-owned subsidiaries on a calendar year basis. Income taxes are accounted for using the asset and liability method. Under this method, a deferred tax asset or liability is determined based on the enacted tax rates which will be in effect when the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in the Company’s income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period of change. A valuation allowance is recognized as a reduction to deferred tax assets when management determines it is more likely than not that deferred tax assets will not be available to offset future income tax liabilities. Accounting standards for income taxes prescribe a recognition threshold and measurement process for financial statement recognition and measurement of uncertain tax positions taken or expected to be taken in a tax return, and also provide guidance on the de-recognition of previously recorded benefits and their classification, as well as the proper recording of interest and penalties, accounting in interim periods, disclosures and transition. The Company periodically reviews its income tax positions based on tax laws and regulations and financial reporting considerations, and records adjustments as appropriate. This review takes into consideration the status of current taxing authorities’ examinations of the Company’s tax returns, recent positions taken by the taxing authorities on similar transactions, if any, and the overall tax environment. As of March 31, 2023, the Company has recognized $1.6 million of unrecognized tax benefits for uncertain tax positions. The Company does not anticipate that there are additional uncertain tax positions or that any uncertain tax position which has not been recognized would materially affect the effective tax rate if recognized. The Company’s policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense. The Company files consolidated income tax returns in the U.S. federal jurisdiction and in the Oregon, California, Utah, Idaho and Montana state jurisdictions. Tax credit investments: The Company invests in low income housing tax credit funds that are designed to generate a return primarily through the realization of federal tax credits. The Company accounts for these investments by amortizing the cost of tax credit investments over the life of the investment using a proportional amortization method and tax credit investment amortization expense is a component of the provision for income taxes. The following table presents the balances of the Company’s tax credit investments and related unfunded commitments at March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 December 31, 2022 Tax credit investments $ 79,708 $ 71,430 Unfunded commitments—tax credit investments 52,346 44,563 The following table presents other information related to the Company’s tax credit investments for the three months ended March 31, 2023 and 2022 (in thousands): Three Months Ended March 31, 2023 2022 Tax credits and other tax benefits recognized $ 2,066 $ 1,554 Tax credit amortization expense included in provision for income taxes 1,722 1,308 |
CALCULATION OF WEIGHTED AVERAGE
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS) | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS) | The following table reconciles basic to diluted weighted average shares outstanding used to calculate earnings per share data for the three months ended March 31, 2023 and 2022 (in thousands, except shares and per share data): Three Months Ended 2023 2022 Net income $ 55,555 $ 43,963 Basic weighted average shares outstanding 34,239,533 34,300,742 Dilutive effect of unvested restricted stock 218,336 297,694 Diluted weighted shares outstanding 34,457,869 34,598,436 Earnings per common share Basic $ 1.62 $ 1.28 Diluted $ 1.61 $ 1.27 |
STOCK-BASED COMPENSATION PLANS
STOCK-BASED COMPENSATION PLANS | 3 Months Ended |
Mar. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
STOCK-BASED COMPENSATION PLANS AND STOCK OPTIONS | The Company operates the 2014 Omnibus Incentive Plan (the 2014 Plan) and the 2018 Omnibus Incentive Plan (the 2018 Plan), both of which were approved by its shareholders. The purpose of these plans is to promote the success and enhance the value of the Company by providing a means for attracting and retaining highly skilled employees, officers and directors of the Company and linking their personal interests with those of the Company’s shareholders. Under these plans, the Company currently has outstanding awards of restricted stock shares and restricted stock units. The Company reserved 900,000 shares of its common stock for issuance under the 2014 Plan in connection with the exercise of awards. As of March 31, 2023, 272,495 restricted stock shares and 431,069 restricted stock units have been granted under the 2014 Plan of which 1,552 restricted stock shares and 23,431 restricted stock units were unvested. The Company reserved 900,000 shares of common stock for issuance under the 2018 Plan in connection with the exercise of awards. As of March 31, 2023, 566,900 restricted stock units have been granted under the 2018 Plan of which 206,186 restricted stock units were unvested. The expense associated with all restricted stock grants (including restricted stock shares and restricted stock units) was $2.1 million for both the three months ended March 31, 2023 and March 31, 2022. Unrecognized compensation expense for these awards as of March 31, 2023 was $8.7 million and will be recognized over a weighted average period of 25 months. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Financial Instruments with Off-Balance-Sheet Risk — The Company has financial instruments with off-balance-sheet risk generated in the normal course of business to meet the financing needs of our clients. These financial instruments include commitments to extend credit, commitments related to standby letters of credit, commitments to originate loans, commitments to sell loans and commitments to buy or sell securities. These instruments involve, to varying degrees, elements of credit and interest rate risk similar to the risk involved in on-balance-sheet items. Our exposure to credit loss in the event of nonperformance by the other party to the financial instrument from commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. We use the same credit policies in making commitments and conditional obligations as for on-balance-sheet instruments. Outstanding commitments for which no asset or liability for the notional amount has been recorded consisted of the following at the dates indicated (in thousands): Contract or Notional Amount March 31, 2023 December 31, 2022 Commitments to extend credit $ 3,946,366 $ 4,031,954 Standby letters of credit and financial guarantees 39,312 26,119 Commitments to originate loans 74,719 53,266 Risk participation agreements 48,173 48,566 Derivatives also included in Note 13: Commitments to originate loans held for sale 26,810 10,525 Commitments to sell loans secured by one- to four-family residential properties 3,842 12,568 Commitments to sell securities related to mortgage banking activities 24,332 7,000 In addition to the commitments disclosed in the table above, the Company is committed to funding its’ unfunded tax credit investments. The Company has also entered into agreements to invest in several limited partnerships. As of March 31, 2023 and December 31, 2022, the funded balances and remaining outstanding commitments of these investments were as follows (in thousands): March 31, 2023 December 31, 2022 Funded Balance Unfunded Balance Funded Balance Unfunded Balance Limited partnerships investments $ 10,759 $ 11,741 $ 10,272 $ 12,228 Commitments to extend credit are agreements to lend to a client, as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Many of the commitments may expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. Each client’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation of the client. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, and income producing commercial properties. The Company’s allowance for credit losses - unfunded loan commitments at March 31, 2023 and December 31, 2022 was $13.4 million and $14.7 million, respectively. Standby letters of credit are conditional commitments issued to guarantee a client’s performance or payment to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to clients. Under a risk participation agreement, the Bank guarantees the financial performance of a borrower on the participated portion of an interest rate swap on a loan. Interest rates on residential one- to four-family mortgage loan applications are typically rate locked (committed) to clients during the application stage for periods ranging from 30 to 60 days, the most typical period being 45 days. Traditionally, these loan applications with rate lock commitments had the pricing for the sale of these loans locked with various qualified investors under a best-efforts delivery program at or near the time the interest rate is locked with the client. The Bank then attempts to deliver these loans before their rate locks expired. This arrangement generally required delivery of the loans prior to the expiration of the rate lock. Delays in funding the loans would require a lock extension. The cost of a lock extension at times was borne by the client and at times by the Bank. These lock extension costs have not had a material impact to the Company’s operations. For mandatory delivery commitments the Company enters into forward commitments at specific prices and settlement dates to deliver either: (1) residential mortgage loans for purchase by secondary market investors (i.e., Freddie Mac or Fannie Mae), or (2) mortgage-backed securities to broker/dealers. The purpose of these forward commitments is to offset the movement in interest rates between the execution of its residential mortgage rate lock commitments with borrowers and the sale of those loans to the secondary market investor. There were no counterparty default losses on forward contracts during the three months ended March 31, 2023 or March 31, 2022. Market risk with respect to forward contracts arises principally from changes in the value of contractual positions due to changes in interest rates. The Company limits its exposure to market risk by monitoring differences between commitments to clients and forward contracts with market investors and securities broker/dealers. In the event the Company has forward delivery contract commitments in excess of available mortgage loans, the transaction is completed by either paying or receiving a fee to or from the investor or broker/dealer equal to the increase or decrease in the market value of the forward contract. In the normal course of business, the Company and/or its subsidiaries have various legal proceedings and other contingent matters outstanding. These proceedings and the associated legal claims are often contested and the outcome of individual matters is not always predictable. These claims and counter-claims typically arise during the course of collection efforts on problem loans or with respect to action to enforce liens on properties in which the Bank holds a security interest. Based upon the information known to management at this time, the Company has accrued $14.9 million related to outstanding legal proceedings. There are no other legal proceedings that management believes would have a material adverse effect on the results of operations or consolidated financial position at March 31, 2023. |
DERIVATIVES AND HEDGING
DERIVATIVES AND HEDGING | 3 Months Ended |
Mar. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVES AND HEDGING | Banner Bank is party to various derivative instruments that are used for asset and liability management and client financing needs. Derivative instruments are contracts between two or more parties that have a notional amount and an underlying variable, require no net investment and allow for the net settlement of positions. The notional amount serves as the basis for the payment provision of the contract and takes the form of units, such as shares or dollars. The underlying variable represents a specified interest rate, index, or other component. The interaction between the notional amount and the underlying variable determines the number of units to be exchanged between the parties and influences the market value of the derivative contract. The Company’s predominant derivative and hedging activities involve interest rate swaps related to certain term loans and forward sales contracts associated with mortgage banking activities. Generally, these instruments help the Company manage exposure to market risk and meet client financing needs. Market risk represents the possibility that economic value or net interest income will be adversely affected by fluctuations in external factors such as market-driven interest rates and prices or other economic factors. As of March 31, 2023 and December 31, 2022, the notional values or contractual amounts and fair values of the Company’s derivatives were as follows (in thousands): Asset Derivatives Liability Derivatives March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Notional/ Contract Amount Fair Value Notional/ Contract Amount Fair Value Notional/ Contract Amount Fair Value Notional/ Contract Amount Fair Value Hedged interest rate swaps $ — $ — $ — $ — $ 400,000 $ 21,747 $ 400,000 $ 26,485 Interest rate swaps not designated in hedge relationships 429,876 28,821 440,731 37,119 429,876 28,858 440,731 37,150 Less: Master netting agreements (13,479) (17,780) (13,479) (17,780) Less: Cash settlements — — (8,268) (8,705) Net interest rate swaps 15,342 19,339 28,858 37,150 Risk participation agreements 1,225 — 1,283 — 46,948 85 47,283 67 Mortgage loan commitments 31,296 485 15,920 81 — — 12,367 42 Forward sales contracts 1,460 49 16,568 61 30,623 136 3,000 76 Total $ 463,857 $ 15,876 $ 474,502 $ 19,481 $ 507,447 $ 29,079 $ 503,381 $ 37,335 The Company’s asset derivatives are included in other assets, while the liability derivatives are included in accrued expenses and other liabilities on the Consolidated Statements of Financial Condition. Interest Rate Swaps used in Cash Flow Hedges: The Company’s floating rate loans result in exposure to losses in value or net interest income as interest rates change. The risk management objectives in using interest rate derivatives are to reduce volatility in net interest income and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. During the fourth quarter of 2021, the Company entered into interest rate swaps designated as cash flow hedges to hedge the variable cash flows associated with existing floating rate loans. These hedge contracts involve the receipt of fixed-rate amounts from a counterparty in exchange for the Company making floating-rate payments over the life of the agreements without exchange of the underlying notional amount. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the unrealized gain or loss on the derivative is recorded in AOCI and subsequently reclassified into interest income in the same period during which the hedged transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest income as interest payments are made on the Company’s variable-rate assets. During the next 12 months, the Company estimates that an additional $15.0 million will be reclassified as a decrease to interest income. The following table presents the effect of cash flow hedge accounting on AOCI for the three months ended March 31, 2023 and 2022 (in thousands): For the Three Months Ended March 31, 2023 Amount of Gain or (Loss) Recognized in AOCI on Derivative Amount of Gain or (Loss) Recognized in AOCI Included Component Amount of Gain or (Loss) Recognized in AOCI Excluded Component Location of Gain or (Loss) Recognized from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component Interest rate swaps $ 1,125 $ 1,125 $ — Interest Income $ (3,613) $ (3,613) $ — For the Three Months Ended March 31, 2022 Amount of Gain or (Loss) Recognized in AOCI on Derivative Amount of Gain or (Loss) Recognized in AOCI Included Component Amount of Gain or (Loss) Recognized in AOCI Excluded Component Location of Gain or (Loss) Recognized from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component Interest rate swaps $ (14,025) $ (14,025) $ — Interest Income $ 751 $ 751 $ — At March 31, 2023 and December 31, 2022, we recorded total net unrealized losses on cash flow hedges in AOCI of $16.5 million and $20.1 million, respectively. Interest Rate Swaps: The Bank uses an interest rate swap program for commercial loan clients, that provides the client with a variable-rate loan and enters into an interest rate swap in which the client receives a variable-rate payment in exchange for a fixed-rate payment. The Bank offsets its risk exposure by entering into an offsetting interest rate swap with a dealer counterparty for the same notional amount and length of term as the client interest rate swap providing the dealer counterparty with a fixed-rate payment in exchange for a variable-rate payment. These swaps do not qualify as designated hedges; therefore, each swap is accounted for as a freestanding derivative. Risk Participation Agreements: In conjunction with the purchase or sale of participating interests in loans, the Company also participates in related swaps through risk participation agreements. The existing credit derivatives resulting from these participations are not designated as hedges as they are not used to manage interest rate risk in the Company’s assets or liabilities and are not speculative. Mortgage Loan Commitments: The Company sells originated one- to four-family mortgage loans into the secondary mortgage loan markets. During the period of loan origination and prior to the sale of the loans in the secondary market, the Company has exposure to movements in interest rates associated with written interest rate lock commitments with potential borrowers to originate one- to four-family loans that are intended to be sold and for closed one- to four-family mortgage loans held for sale for which fair value accounting has been elected, that are awaiting sale and delivery into the secondary market. The Company economically hedges the risk of changing interest rates associated with these mortgage loan commitments by entering into forward sales contracts to sell one- to four-family mortgage loans or mortgage-backed securities to broker/dealers at specific prices and dates. Gains (losses) recognized in income within Mortgage banking operations on non-designated hedging instruments for the three months ended March 31, 2023 and 2022, were as follows (in thousands): Three Months Ended 2023 2022 Mortgage loan commitments $ 440 $ (1,532) Forward sales contracts (142) 2,212 $ 298 $ 680 The Company is exposed to credit-related losses in the event of nonperformance by the counterparty to these agreements. Credit risk of the financial contract is controlled through the credit approval, limits, and monitoring procedures and management does not expect the counterparties to fail their obligations. In connection with the interest rate swaps between the Bank and the dealer counterparties, the agreements contain a provision where if the Bank fails to maintain its status as a well/adequately capitalized institution, then the counterparty could terminate the derivative positions and the Bank would be required to settle its obligations. Similarly, the Bank could be required to settle its obligations under certain of its agreements if specific regulatory events occur, such as a publicly issued prompt corrective action directive, cease and desist order, or a capital maintenance agreement that required the Bank to maintain a specific capital level. If the Bank had breached any of these provisions at March 31, 2023 or December 31, 2022, it could have been required to settle its obligations under the agreements at the termination value. As of March 31, 2023 and December 31, 2022, the Company had no obligations to dealer counterparties related to these agreements. The Company generally posts collateral against derivative liabilities in the form of cash, government agency-issued bonds, mortgage-backed securities, or commercial mortgage-backed securities. Collateral posted against derivative liabilities was $20.7 million and $22.2 million as of March 31, 2023 and December 31, 2022, respectively. The collateral posted included restricted cash of $14.3 million and $15.9 million as of March 31, 2023 and 2022, respectively. Derivative assets and liabilities are recorded at fair value on the balance sheet. Master netting agreements allow the Company to settle all derivative contracts held with a single counterparty on a net basis and to offset net derivative positions with related collateral where applicable. In addition, some of interest rate swap derivatives between the Company and the dealer counterparties are cleared through central clearing houses. These clearing houses characterize the variation margin payments as settlements of the derivative’s market exposure and not as collateral. The variation margin is treated as an adjustment to our cash collateral, as well as a corresponding adjustment to our derivative liability. As of March 31, 2023 and December 31, 2022, the variation margin adjustment was a negative adjustment of $8.3 million and $8.7 million, respectively. The following tables present additional information related to the Company’s derivative contracts, by type of financial instrument, as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition Gross Amounts Recognized Amounts offset Net Amounts Netting Adjustment Per Applicable Master Netting Agreements Fair Value Net Amount Derivative assets Interest rate swaps $ 28,821 $ (13,479) $ 15,342 $ — $ — $ 15,342 $ 28,821 $ (13,479) $ 15,342 $ — $ — $ 15,342 Derivative liabilities Interest rate swaps $ 50,605 $ (21,747) $ 28,858 $ — $ (13,435) $ 15,423 $ 50,605 $ (21,747) $ 28,858 $ — $ (13,435) $ 15,423 December 31, 2022 Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition Gross Amounts Recognized Amounts offset Net Amounts Netting Adjustment Per Applicable Master Netting Agreements Fair Value Net Amount Derivative assets Interest rate swaps $ 37,119 $ (17,780) $ 19,339 $ — $ — $ 19,339 $ 37,119 $ (17,780) $ 19,339 $ — $ — $ 19,339 Derivative liabilities Interest rate swaps $ 63,634 $ (26,484) $ 37,150 $ — $ (14,972) $ 22,178 $ 63,634 $ (26,484) $ 37,150 $ — $ (14,972) $ 22,178 |
BASIS OF PRESENTATION AND SIG_2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting | The accompanying unaudited condensed consolidated financial statements include the accounts of Banner Corporation (the Company or Banner), a bank holding company incorporated in the State of Washington and its wholly-owned subsidiary, Banner Bank (the Bank). These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (SEC). In preparing these financial statements, the Company has evaluated events and transactions subsequent to March 31, 2023 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information and note disclosures have been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. Certain reclassifications have been made to the 2022 Consolidated Financial Statements and/or schedules to conform to the 2023 presentation. These reclassifications may have affected certain ratios for the prior periods. The effect of these reclassifications is considered immaterial. All significant intercompany transactions and balances have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company’s accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. The information included in this Form 10-Q should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Interim results are not necessarily indicative of results for a full year or any other interim period. |
SECURITIES (Tables)
SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Securities | The amortized cost, gross unrealized gains and losses and estimated fair value of securities at March 31, 2023 and December 31, 2022 are summarized as follows (in thousands): March 31, 2023 Amortized Cost Fair Value Trading: Corporate bonds $ 27,203 $ 28,591 $ 27,203 $ 28,591 March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale: U.S. Government and agency obligations $ 53,689 $ 10 $ (1,111) $ 52,588 Municipal bonds 205,152 482 (31,913) 173,721 Corporate bonds 133,269 — (15,865) 117,404 Mortgage-backed or related securities 2,425,602 1,647 (335,040) 2,092,209 Asset-backed securities 222,499 269 (4,830) 217,938 $ 3,040,211 $ 2,408 $ (388,759) $ 2,653,860 March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Held-to-Maturity: U.S. Government and agency obligations $ 310 $ 1 $ (5) $ 306 $ — Municipal bonds 501,361 358 (59,063) 442,656 (173) Corporate bonds 2,929 — (19) 2,910 (191) Mortgage-backed or related securities 605,359 — (94,169) 511,190 — $ 1,109,959 $ 359 $ (153,256) $ 957,062 $ (364) December 31, 2022 Amortized Cost Fair Value Trading: Corporate bonds $ 27,203 $ 28,694 $ 27,203 $ 28,694 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale: U.S. Government and agency obligations $ 56,344 $ 8 $ (1,244) $ 55,108 Municipal bonds 301,449 530 (40,770) 261,209 Corporate bonds 133,334 — (11,481) 121,853 Mortgage-backed or related securities 2,505,172 885 (366,721) 2,139,336 Asset-backed securities 222,478 40 (10,993) 211,525 $ 3,218,777 $ 1,463 $ (431,209) $ 2,789,031 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Held-to-Maturity: U.S. Government and agency obligations $ 312 $ — $ (7) $ 305 $ — Municipal bonds 503,117 109 (70,907) 432,319 (183) Corporate bonds 2,961 — (16) 2,945 (196) Mortgage-backed or related securities 611,577 — (104,966) 506,611 — $ 1,117,967 $ 109 $ (175,896) $ 942,180 $ (379) |
Schedule of Securities with Continuous Loss Position | At March 31, 2023 and December 31, 2022, the gross unrealized losses and the fair value for securities available-for-sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position were as follows (in thousands): March 31, 2023 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available-for-Sale: U.S. Government and agency obligations $ 24,785 $ (216) $ 23,739 $ (895) $ 48,524 $ (1,111) Municipal bonds 49,555 (1,218) 106,391 (30,695) 155,946 (31,913) Corporate bonds 42,252 (4,953) 74,552 (10,912) 116,804 (15,865) Mortgage-backed or related securities 403,356 (19,053) 1,558,227 (315,987) 1,961,583 (335,040) Asset-backed securities 123,691 (2,118) 83,914 (2,712) 207,605 (4,830) $ 643,639 $ (27,558) $ 1,846,823 $ (361,201) $ 2,490,462 $ (388,759) December 31, 2022 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available-for-Sale: U.S. Government and agency obligations $ 33,407 $ (882) $ 16,732 $ (362) $ 50,139 $ (1,244) Municipal bonds 188,920 (25,592) 33,907 (15,178) 222,827 (40,770) Corporate bonds 108,187 (9,547) 13,066 (1,934) 121,253 (11,481) Mortgage-backed or related securities 930,566 (90,537) 1,159,110 (276,184) 2,089,676 (366,721) Asset-backed securities 201,437 (10,993) — — 201,437 (10,993) $ 1,462,517 $ (137,551) $ 1,222,815 $ (293,658) $ 2,685,332 $ (431,209) |
Schedule of Realized Gain (Loss) | The following table presents gross gains and losses on sales and partial calls of securities available-for-sale (in thousands): Three Months Ended 2023 2022 Available-for-Sale: Gross Gains $ 232 $ 436 Gross Losses (7,484) (1) Balance, end of the period $ (7,252) $ 435 |
Schedule of Securities by Contractual Maturity Date | The following table presents the amortized cost and estimated fair value of securities at March 31, 2023, by contractual maturity and does not reflect any required periodic payments (in thousands). Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties. March 31, 2023 Trading Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Maturing within one year $ — $ — $ 8,110 $ 8,029 $ 22,368 $ 22,157 Maturing after one year through five years — — 207,623 192,942 22,945 22,417 Maturing after five years through ten years — — 471,431 422,224 25,643 24,866 Maturing after ten years 27,203 28,591 2,353,047 2,030,665 1,039,003 887,622 $ 27,203 $ 28,591 $ 3,040,211 $ 2,653,860 $ 1,109,959 $ 957,062 |
Schedule of Pledged Securities | The following table presents, as of March 31, 2023, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands): March 31, 2023 Carrying Value Amortized Cost Fair Value Purpose or beneficiary: State and local governments public deposits $ 238,597 $ 240,736 $ 216,883 Federal Reserve 120,463 120,463 103,769 Interest rate swap counterparties 6,422 6,807 6,268 Repurchase transaction accounts 317,761 317,761 266,592 Other 2,435 2,435 2,413 Total pledged securities $ 685,678 $ 688,202 $ 595,925 |
Debt Instrument, Credit Rating | The Company monitors the credit quality of held-to-maturity debt securities through the use of credit ratings which are reviewed and updated quarterly. The Company’s non-rated held-to-maturity debt securities are primarily United States government sponsored enterprise debentures carrying minimal to no credit risk. The non-rated corporate bonds primarily consist of Community Reinvestment Act related bonds secured by loan instruments from low to moderate income borrowers. The remaining non-rated held-to-maturity debt securities balance is comprised of local municipal debt from within the Company’s geographic footprint and is monitored through quarterly or annual financial review. This municipal debt is predominately essential service or unlimited general obligation backed debt. The following tables summarize the amortized cost of held-to-maturity debt securities by credit rating at March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total AAA/AA/A $ — $ 491,252 $ 500 $ 16,626 $ 508,378 Not Rated 310 10,109 2,429 588,733 601,581 $ 310 $ 501,361 $ 2,929 $ 605,359 $ 1,109,959 December 31, 2022 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total AAA/AA/A $ — $ 492,105 $ 500 $ 16,681 $ 509,286 Not Rated 312 11,012 2,461 594,896 608,681 $ 312 $ 503,117 $ 2,961 $ 611,577 $ 1,117,967 |
LOANS RECEIVABLE AND THE ALLO_2
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Receivables [Abstract] | |
Schedule of Loans Receivable, Including Loans Held for Sale | The following table presents the loans receivable at March 31, 2023 and December 31, 2022 by class (dollars in thousands). March 31, 2023 December 31, 2022 Amount Percent of Total Amount Percent of Total Commercial real estate: Owner-occupied $ 865,705 8.5 % $ 845,320 8.3 % Investment properties 1,520,261 15.0 1,589,975 15.7 Small balance CRE 1,179,749 11.6 1,200,251 11.8 Multifamily real estate 696,864 6.8 645,071 6.4 Construction, land and land development: Commercial construction 191,051 1.9 184,876 1.8 Multifamily construction 362,425 3.6 325,816 3.2 One- to four-family construction 584,655 5.8 647,329 6.4 Land and land development 329,438 3.2 328,475 3.2 Commercial business: Commercial business (1) 1,266,047 12.5 1,283,407 12.7 Small business scored 960,650 9.4 947,092 9.3 Agricultural business, including secured by farmland (2) 272,707 2.7 295,077 2.9 One- to four-family residential 1,252,104 12.3 1,173,112 11.6 Consumer: Consumer—home equity revolving lines of credit 564,334 5.6 566,291 5.6 Consumer—other 114,694 1.1 114,632 1.1 Total loans 10,160,684 100.0 % 10,146,724 100.0 % Less allowance for credit losses – loans (141,457) (141,465) Net loans $ 10,019,227 $ 10,005,259 |
Schedule of Troubled Debt Restructurings | The following table presents the amortized cost basis of loans at March 31, 2023 that were both experiencing financial difficulty and modified during the quarter ended March 31, 2023 (in thousands): March 31, 2023 Term Extension Total One- to four-family construction $ 6,107 $ 6,107 Total $ 6,107 $ 6,107 The Company has committed to lend additional amounts totaling $436,000 to the borrowers included in the previous table. The Company closely monitors the performance of loans that are modified for borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the financial effect of the loan modifications presented above for borrowers experiencing financial difficulty for the three months ended March 31, 2023: Three Months Ended March 31, 2023 Weighted-Average Term Extension One- to four-family construction 7 Total 7 |
Schedule of Risk-Rated Loans and Non-Risk Rated Loans by Grade and Other Characteristics | The following tables present the Company’s portfolio of risk-rated loans by class and by grade as of March 31, 2023 and December 31, 2022 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Commercial real estate - owner occupied Risk Rating Pass $ 33,565 $ 160,079 $ 190,447 $ 141,823 $ 72,672 $ 200,153 $ 25,434 $ 824,173 Special Mention — — — — — 41 — 41 Substandard 1,771 10,278 — 11,998 16,991 253 200 41,491 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - owner occupied $ 35,336 $ 170,357 $ 190,447 $ 153,821 $ 89,663 $ 200,447 $ 25,634 $ 865,705 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate - investment properties Risk Rating Pass $ 33,547 $ 181,326 $ 296,106 $ 127,945 $ 180,315 $ 673,599 $ 23,147 $ 1,515,985 Special Mention — — — — — — — — Substandard — — — — — 2,980 1,296 4,276 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - investment properties $ 33,547 $ 181,326 $ 296,106 $ 127,945 $ 180,315 $ 676,579 $ 24,443 $ 1,520,261 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Multifamily real estate Risk Rating Pass $ 38,932 $ 149,727 $ 177,809 $ 100,126 $ 46,210 $ 182,443 $ 1,617 $ 696,864 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily real estate $ 38,932 $ 149,727 $ 177,809 $ 100,126 $ 46,210 $ 182,443 $ 1,617 $ 696,864 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Commercial construction Risk Rating Pass $ 43,742 $ 83,325 $ 38,168 $ 12,890 $ 4,229 $ 1,077 $ — $ 183,431 Special Mention — — — — — — — — Substandard 2,933 — — — — 4,687 — 7,620 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial construction $ 46,675 $ 83,325 $ 38,168 $ 12,890 $ 4,229 $ 5,764 $ — $ 191,051 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Multifamily construction Risk Rating Pass $ 28,035 $ 155,074 $ 165,128 $ 12,770 $ 1,418 $ — $ — $ 362,425 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily construction $ 28,035 $ 155,074 $ 165,128 $ 12,770 $ 1,418 $ — $ — $ 362,425 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — One- to four- family construction Risk Rating Pass $ 167,004 $ 376,272 $ 30,106 $ 137 $ 331 $ — $ 595 $ 574,445 Special Mention — — — — — — — — Substandard 6,240 — 3,970 — — — — 10,210 Doubtful — — — — — — — — Loss — — — — — — — — Total One- to four- family construction $ 173,244 $ 376,272 $ 34,076 $ 137 $ 331 $ — $ 595 $ 584,655 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Land and land development Risk Rating Pass $ 63,156 $ 151,355 $ 75,204 $ 15,861 $ 10,754 $ 11,993 $ 339 $ 328,662 Special Mention — — — — — — — — Substandard 604 — — — — 172 — 776 Doubtful — — — — — — — — Loss — — — — — — — — Total Land and land development $ 63,760 $ 151,355 $ 75,204 $ 15,861 $ 10,754 $ 12,165 $ 339 $ 329,438 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial business Risk Rating Pass $ 49,403 $ 249,239 $ 141,427 $ 153,697 $ 121,717 $ 160,236 $ 354,670 $ 1,230,389 Special Mention — 64 — 3,372 — — — 3,436 Substandard — 827 12,712 2,861 1,109 7,625 7,088 32,222 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial business $ 49,403 $ 250,130 $ 154,139 $ 159,930 $ 122,826 $ 167,861 $ 361,758 $ 1,266,047 Current period gross charge-offs $ — $ — $ 581 $ — $ — $ 25 $ 9 $ 615 Agricultural business, including secured by farmland Risk Rating Pass $ 9,494 $ 37,948 $ 32,956 $ 18,667 $ 27,705 $ 49,079 $ 82,499 $ 258,348 Special Mention — — 302 271 — — — 573 Substandard 1,554 2,010 970 — 6,565 2,588 99 13,786 Doubtful — — — — — — — — Loss — — — — — — — — Total Agricultural business, including secured by farmland $ 11,048 $ 39,958 $ 34,228 $ 18,938 $ 34,270 $ 51,667 $ 82,598 $ 272,707 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Commercial real estate - owner occupied Risk Rating Pass $ 167,150 $ 198,787 $ 150,272 $ 74,171 $ 57,095 $ 148,902 $ 10,833 $ 807,210 Special Mention — — — 2,829 — 42 201 3,072 Substandard 13,756 — 7,211 13,564 — 307 200 35,038 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - owner occupied $ 180,906 $ 198,787 $ 157,483 $ 90,564 $ 57,095 $ 149,251 $ 11,234 $ 845,320 Commercial real estate - investment properties Risk Rating Pass $ 190,627 $ 323,160 $ 142,476 $ 182,853 $ 169,667 $ 547,899 $ 25,691 $ 1,582,373 Special Mention — — — — — — — — Substandard — — — 3,283 — 3,007 1,312 7,602 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - investment properties $ 190,627 $ 323,160 $ 142,476 $ 186,136 $ 169,667 $ 550,906 $ 27,003 $ 1,589,975 Multifamily real estate Risk Rating Pass $ 139,383 $ 177,784 $ 93,961 $ 46,460 $ 29,665 $ 156,140 $ 1,678 $ 645,071 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily real estate $ 139,383 $ 177,784 $ 93,961 $ 46,460 $ 29,665 $ 156,140 $ 1,678 $ 645,071 December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Commercial construction Risk Rating Pass $ 112,229 $ 46,679 $ 12,952 $ 4,260 $ 1,107 $ — $ — $ 177,227 Special Mention — — — — — — — — Substandard 2,931 1 — — 4,717 — — 7,649 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial construction $ 115,160 $ 46,680 $ 12,952 $ 4,260 $ 5,824 $ — $ — $ 184,876 Multifamily construction Risk Rating Pass $ 142,680 $ 161,066 $ 20,622 $ 1,448 $ — $ — $ — $ 325,816 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily construction $ 142,680 $ 161,066 $ 20,622 $ 1,448 $ — $ — $ — $ 325,816 One- to four- family construction Risk Rating Pass $ 572,701 $ 56,530 $ 677 $ 331 $ — $ — $ 711 $ 630,950 Special Mention — — — — — — — — Substandard 13,473 2,906 — — — — — 16,379 Doubtful — — — — — — — — Loss — — — — — — — — Total One- to four- family construction $ 586,174 $ 59,436 $ 677 $ 331 $ — $ — $ 711 $ 647,329 December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Land and land development Risk Rating Pass $ 199,339 $ 88,066 $ 16,278 $ 11,866 $ 6,242 $ 6,164 $ 339 $ 328,294 Special Mention — — — — — — — — Substandard — — — — 97 84 — 181 Doubtful — — — — — — — — Loss — — — — — — — — Total Land and land development $ 199,339 $ 88,066 $ 16,278 $ 11,866 $ 6,339 $ 6,248 $ 339 $ 328,475 Commercial business Risk Rating Pass $ 249,609 $ 149,140 $ 161,494 $ 126,416 $ 86,712 $ 85,386 $ 391,852 $ 1,250,609 Special Mention 74 26 3,467 — — — 200 3,767 Substandard 464 12,599 1,956 1,161 5,954 796 6,101 29,031 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial business $ 250,147 $ 161,765 $ 166,917 $ 127,577 $ 92,666 $ 86,182 $ 398,153 $ 1,283,407 Agricultural business, including secured by farmland Risk Rating Pass $ 36,848 $ 35,440 $ 18,946 $ 28,354 $ 24,710 $ 27,063 $ 109,606 $ 280,967 Special Mention — 336 271 — — — 357 964 Substandard 2,015 970 — 6,565 — 2,599 997 13,146 Doubtful — — — — — — — — Loss — — — — — — — — Total Agricultural business, including secured by farmland $ 38,863 $ 36,746 $ 19,217 $ 34,919 $ 24,710 $ 29,662 $ 110,960 $ 295,077 The following tables present the Company’s portfolio of non-risk-rated loans by class and delinquency status as of March 31, 2023 and December 31, 2022 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Small balance CRE Past Due Category Current $ 27,002 $ 173,956 $ 217,436 $ 175,592 $ 125,339 $ 457,810 $ 517 $ 1,177,652 30-59 Days Past Due — — — 445 169 1,481 — 2,095 60-89 Days Past Due — — — — — — — — 90 Days + Past Due — — — — — 2 — 2 Total Small balance CRE $ 27,002 $ 173,956 $ 217,436 $ 176,037 $ 125,508 $ 459,293 $ 517 $ 1,179,749 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Small business scored Past Due Category Current $ 49,647 $ 298,194 $ 192,903 $ 95,064 $ 75,968 $ 124,084 $ 120,923 $ 956,783 30-59 Days Past Due — 590 485 526 — 103 239 1,943 60-89 Days Past Due — — 22 — 37 17 239 315 90 Days + Past Due — — 177 93 676 497 166 1,609 Total Small business scored $ 49,647 $ 298,784 $ 193,587 $ 95,683 $ 76,681 $ 124,701 $ 121,567 $ 960,650 Current period gross charge-offs $ — $ 42 $ 49 $ 107 $ 202 $ 143 $ — $ 543 One- to four- family residential Past Due Category Current $ 83,243 $ 568,763 $ 272,265 $ 59,437 $ 32,785 $ 223,049 $ 643 $ 1,240,185 30-59 Days Past Due — — 1,041 664 1,325 1,859 — 4,889 60-89 Days Past Due 1,060 240 — — — 436 — 1,736 90 Days + Past Due — — 1,816 759 711 2,008 — 5,294 Total One- to four- family residential $ 84,303 $ 569,003 $ 275,122 $ 60,860 $ 34,821 $ 227,352 $ 643 $ 1,252,104 Current period gross charge-offs $ — $ — $ — $ — $ — $ 30 $ — $ 30 March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 5,065 $ 2,216 $ 1,534 $ 1,186 $ 1,434 $ 5,484 $ 543,138 $ 560,057 30-59 Days Past Due — — — 72 20 314 1,094 1,500 60-89 Days Past Due — — 151 — — 396 126 673 90 Days + Past Due — — 50 1,115 532 407 — 2,104 Total Consumer—home equity revolving lines of credit $ 5,065 $ 2,216 $ 1,735 $ 2,373 $ 1,986 $ 6,601 $ 544,358 $ 564,334 Current period gross charge-offs $ — $ — $ 13 $ — $ — $ 15 $ — $ 28 Consumer-other Past Due Category Current $ 4,215 $ 37,789 $ 11,467 $ 8,306 $ 5,061 $ 20,780 $ 26,691 $ 114,309 30-59 Days Past Due — 43 2 44 12 78 107 286 60-89 Days Past Due — — 19 1 5 2 54 81 90 Days + Past Due — — — 18 — — — 18 Total Consumer-other $ 4,215 $ 37,832 $ 11,488 $ 8,369 $ 5,078 $ 20,860 $ 26,852 $ 114,694 Current period gross charge-offs $ — $ 19 $ 20 $ 4 $ 20 $ 39 $ 162 $ 264 December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Small balance CRE Past Due Category Current $ 177,605 $ 215,801 $ 172,286 $ 134,552 $ 142,592 $ 354,924 $ 630 $ 1,198,390 30-59 Days Past Due — — 460 — — 1,399 — 1,859 60-89 Days Past Due — — — — — — — — 90 Days + Past Due — — — — — 2 — 2 Total Small balance CRE $ 177,605 $ 215,801 $ 172,746 $ 134,552 $ 142,592 $ 356,325 $ 630 $ 1,200,251 Small business scored Past Due Category Current $ 307,109 $ 201,628 $ 99,867 $ 81,603 $ 56,420 $ 78,025 $ 119,281 $ 943,933 30-59 Days Past Due 146 518 54 262 46 280 173 1,479 60-89 Days Past Due — 54 — 275 149 7 176 661 90 Days + Past Due — — 26 157 70 305 461 1,019 Total Small business scored $ 307,255 $ 202,200 $ 99,947 $ 82,297 $ 56,685 $ 78,617 $ 120,091 $ 947,092 One- to four- family residential Past Due Category Current $ 555,833 $ 279,331 $ 59,672 $ 34,607 $ 37,740 $ 191,890 $ 1,335 $ 1,160,408 30-59 Days Past Due 2,030 846 755 — 116 1,462 78 5,287 60-89 Days Past Due 1,060 — — — 115 1,067 — 2,242 90 Days + Past Due — 1,819 973 712 94 1,577 — 5,175 Total One- to four- family residential $ 558,923 $ 281,996 $ 61,400 $ 35,319 $ 38,065 $ 195,996 $ 1,413 $ 1,173,112 December 31, 2022 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2022 2021 2020 2019 2018 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 7,442 $ 1,089 $ 329 $ 1,355 $ 1,611 $ 3,788 $ 547,068 $ 562,682 30-59 Days Past Due 49 40 75 — 74 214 1,372 1,824 60-89 Days Past Due — 50 — — 49 45 59 203 90 Days + Past Due — 14 73 476 64 675 280 1,582 Total Consumer—home equity revolving lines of credit $ 7,491 $ 1,193 $ 477 $ 1,831 $ 1,798 $ 4,722 $ 548,779 $ 566,291 Consumer-other Past Due Category Current $ 39,740 $ 12,138 $ 9,334 $ 5,695 $ 5,384 $ 16,675 $ 25,219 $ 114,185 30-59 Days Past Due 49 — 16 5 2 67 120 259 60-89 Days Past Due 41 9 29 24 — 13 62 178 90 Days + Past Due — 10 — — — — — 10 Total Consumer-other $ 39,830 $ 12,157 $ 9,379 $ 5,724 $ 5,386 $ 16,755 $ 25,401 $ 114,632 |
Loans, Collateral Dependent [Table Text Block] | The following tables provide the amortized cost basis of collateral-dependent loans as of March 31, 2023 and December 31, 2022 (in thousands). Our collateral dependent loans presented in the tables below have no significant concentrations by property type or location. March 31, 2023 Real Estate Equipment Inventory Total Small balance CRE $ 2,167 $ — $ — $ 2,167 Commercial business Commercial business 316 4,543 9 4,868 Small business scored — 243 — 243 Agricultural business, including secured by farmland 3,242 93 145 3,480 One- to four-family residential 2,679 — — 2,679 Consumer—home equity revolving lines of credit 818 — — 818 Total $ 9,222 $ 4,879 $ 154 $ 14,255 December 31, 2022 Real Estate Equipment Total Small balance CRE $ 2,953 $ — $ 2,953 Commercial business Commercial business — 4,537 4,537 Small business scored — 307 307 One- to four-family residential 1,622 — 1,622 Total $ 4,575 $ 4,844 $ 9,419 |
Schedule of Age Analysis of the Company's Past Due Loans | The following tables present the Company’s portfolio of non-risk-rated loans by class and delinquency status as of March 31, 2023 and December 31, 2022 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Small balance CRE Past Due Category Current $ 27,002 $ 173,956 $ 217,436 $ 175,592 $ 125,339 $ 457,810 $ 517 $ 1,177,652 30-59 Days Past Due — — — 445 169 1,481 — 2,095 60-89 Days Past Due — — — — — — — — 90 Days + Past Due — — — — — 2 — 2 Total Small balance CRE $ 27,002 $ 173,956 $ 217,436 $ 176,037 $ 125,508 $ 459,293 $ 517 $ 1,179,749 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Small business scored Past Due Category Current $ 49,647 $ 298,194 $ 192,903 $ 95,064 $ 75,968 $ 124,084 $ 120,923 $ 956,783 30-59 Days Past Due — 590 485 526 — 103 239 1,943 60-89 Days Past Due — — 22 — 37 17 239 315 90 Days + Past Due — — 177 93 676 497 166 1,609 Total Small business scored $ 49,647 $ 298,784 $ 193,587 $ 95,683 $ 76,681 $ 124,701 $ 121,567 $ 960,650 Current period gross charge-offs $ — $ 42 $ 49 $ 107 $ 202 $ 143 $ — $ 543 One- to four- family residential Past Due Category Current $ 83,243 $ 568,763 $ 272,265 $ 59,437 $ 32,785 $ 223,049 $ 643 $ 1,240,185 30-59 Days Past Due — — 1,041 664 1,325 1,859 — 4,889 60-89 Days Past Due 1,060 240 — — — 436 — 1,736 90 Days + Past Due — — 1,816 759 711 2,008 — 5,294 Total One- to four- family residential $ 84,303 $ 569,003 $ 275,122 $ 60,860 $ 34,821 $ 227,352 $ 643 $ 1,252,104 Current period gross charge-offs $ — $ — $ — $ — $ — $ 30 $ — $ 30 March 31, 2023 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2023 2022 2021 2020 2019 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 5,065 $ 2,216 $ 1,534 $ 1,186 $ 1,434 $ 5,484 $ 543,138 $ 560,057 30-59 Days Past Due — — — 72 20 314 1,094 1,500 60-89 Days Past Due — — 151 — — 396 126 673 90 Days + Past Due — — 50 1,115 532 407 — 2,104 Total Consumer—home equity revolving lines of credit $ 5,065 $ 2,216 $ 1,735 $ 2,373 $ 1,986 $ 6,601 $ 544,358 $ 564,334 Current period gross charge-offs $ — $ — $ 13 $ — $ — $ 15 $ — $ 28 Consumer-other Past Due Category Current $ 4,215 $ 37,789 $ 11,467 $ 8,306 $ 5,061 $ 20,780 $ 26,691 $ 114,309 30-59 Days Past Due — 43 2 44 12 78 107 286 60-89 Days Past Due — — 19 1 5 2 54 81 90 Days + Past Due — — — 18 — — — 18 Total Consumer-other $ 4,215 $ 37,832 $ 11,488 $ 8,369 $ 5,078 $ 20,860 $ 26,852 $ 114,694 Current period gross charge-offs $ — $ 19 $ 20 $ 4 $ 20 $ 39 $ 162 $ 264 The following tables provide additional detail on the age analysis of the Company’s past due loans as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 30-59 Days 60-89 Days 90 Days or More Total Current Total Loans Non-accrual with no Allowance Total Non-accrual (1) Loans 90 Days or More Past Due and Accruing Commercial real estate: Owner-occupied $ — $ — $ — $ — $ 865,705 $ 865,705 $ — $ 100 $ — Investment properties — — — — 1,520,261 1,520,261 — — — Small balance CRE 2,095 — 2 2,097 1,177,652 1,179,749 2,138 2,715 — Multifamily real estate — — — — 696,864 696,864 — — — Construction, land and land development: Commercial construction — — — — 191,051 191,051 — — — Multifamily construction — — — — 362,425 362,425 — — — One- to four-family construction 1,756 — — 1,756 582,899 584,655 — — — Land and land development 682 — 96 778 328,660 329,438 — 172 — Commercial business: Commercial business 885 132 6,492 7,509 1,258,538 1,266,047 6,751 7,315 — Small business scored 1,943 315 1,609 3,867 956,783 960,650 239 2,050 — Agricultural business, including secured by farmland 2,173 1,648 842 4,663 268,044 272,707 4,074 4,074 — One- to four-family residential 4,889 1,736 5,294 11,919 1,240,185 1,252,104 2,621 6,789 445 Consumer: Consumer—home equity revolving lines of credit 1,500 673 2,104 4,277 560,057 564,334 — 2,243 852 Consumer—other 286 81 18 385 114,309 114,694 — 4 13 Total $ 16,209 $ 4,585 $ 16,457 $ 37,251 $ 10,123,433 $ 10,160,684 $ 15,823 $ 25,462 $ 1,310 December 31, 2022 30-59 Days 60-89 Days 90 Days or More Total Current Total Loans Non-accrual with no Allowance Total Non-accrual (1) Loans 90 Days or More Past Due and Accruing Commercial real estate: Owner-occupied $ — $ — $ — $ — $ 845,320 $ 845,320 $ — $ 143 $ — Investment properties — — — — 1,589,975 1,589,975 — — — Small balance CRE 1,859 — 2 1,861 1,198,390 1,200,251 2,927 3,540 — Multifamily real estate — — — — 645,071 645,071 — — — Construction, land and land development: Commercial construction — — — — 184,876 184,876 — — — Multifamily construction — — — — 325,816 325,816 — — — One- to four-family construction 900 — — 900 646,429 647,329 — — — Land and land development 921 — 97 1,018 327,457 328,475 — 181 — Commercial business: Commercial business 2,100 4,145 649 6,894 1,276,513 1,283,407 6,998 7,356 — Small business scored 1,479 661 1,019 3,159 943,933 947,092 303 2,530 — Agricultural business, including secured by farmland 1,185 — 594 1,779 293,298 295,077 594 594 — One-to four-family residential 5,287 2,242 5,175 12,704 1,160,408 1,173,112 1,569 5,236 1,023 Consumer: Consumer—home equity revolving lines of credit 1,824 203 1,582 3,609 562,682 566,291 — 2,124 254 Consumer—other 259 178 10 447 114,185 114,632 — 2 10 Total $ 15,814 $ 7,429 $ 9,128 $ 32,371 $ 10,114,353 $ 10,146,724 $ 12,391 $ 21,706 $ 1,287 |
Allowance for Credit Losses on Financing Receivables | The following tables provide the activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2023 and 2022 (in thousands): For the Three Months Ended March 31, 2023 Commercial Real Estate Multifamily Real Estate Construction and Land Commercial Business Agricultural Business One- to Four-Family Residential Consumer Total Allowance for credit losses: Beginning balance $ 44,086 $ 7,734 $ 29,171 $ 33,299 $ 3,475 $ 14,729 $ 8,971 $ 141,465 (Recapture)/provision for credit losses (1,295) 741 (738) 1,475 (490) 920 161 774 Recoveries 184 — — 119 109 117 169 698 Charge-offs — — — (1,158) — (30) (292) (1,480) Ending balance $ 42,975 $ 8,475 $ 28,433 $ 33,735 $ 3,094 $ 15,736 $ 9,009 $ 141,457 For the Three Months Ended March 31, 2022 Commercial Real Estate Multifamily Real Estate Construction and Land Commercial Business Agricultural Business One- to Four-Family Residential Consumer Total Allowance for credit losses: Beginning balance $ 52,995 $ 7,043 $ 27,294 $ 26,421 $ 3,190 $ 8,205 $ 6,951 $ 132,099 (Recapture)/provision for credit losses (5,816) 140 (994) 167 (722) (136) (15) (7,376) Recoveries 87 — 384 149 118 40 216 994 Charge-offs (2) — (5) (82) — — (157) (246) Ending balance $ 47,264 $ 7,183 $ 26,679 $ 26,655 $ 2,586 $ 8,109 $ 6,995 $ 125,471 |
GOODWILL, OTHER INTANGIBLE AS_2
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Changes in Goodwill and Intangible Assets | The following table summarizes the changes in the Company’s goodwill and other intangibles for the three months ended March 31, 2023 and the year ended December 31, 2022 (in thousands): Goodwill CDI Total Balance, December 31, 2021 $ 373,121 $ 14,855 $ 387,976 Amortization — (5,279) (5,279) Other changes (1) — (136) (136) Balance, December 31, 2022 373,121 9,440 382,561 Amortization — (1,050) (1,050) Balance, March 31, 2023 $ 373,121 $ 8,390 $ 381,511 |
Schedule of Estimated Annual Amortization Expense | The following table presents the estimated amortization expense with respect to CDI as of March 31, 2023 for the periods indicated (in thousands): Estimated Amortization Remainder of 2023 $ 2,706 2024 2,626 2025 1,567 2026 904 2027 426 Thereafter 161 $ 8,390 |
Schedule of Servicing Assets at Amortized Value | An analysis of the mortgage and SBA servicing rights for the three months ended March 31, 2023 and 2022 is presented below (in thousands): Three Months Ended 2023 2022 Balance, beginning of the period $ 16,166 $ 17,206 Additions—amounts capitalized 136 1,953 Additions—through purchase 39 62 Amortization (1) (847) (1,231) Fair value adjustments (3) 119 18 Balance, end of the period (2) $ 15,613 $ 18,008 (1) Amortization of mortgage servicing rights is recorded as a reduction of loan servicing income within mortgage banking operations and any unamortized balance is fully amortized if the loan repays in full. (2) There was no valuation allowance on mortgage servicing rights as of both March 31, 2023 and 2022. (3) Fair value adjustments relate to SBA servicing rights. These adjustments are estimated based on an independent dealer analysis by discounting estimated net future cash flows from servicing SBA loans. |
DEPOSITS (Tables)
DEPOSITS (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Banking and Thrift, Other Disclosure [Abstract] | |
Schedule of Deposit Liabilities | Deposits consisted of the following at March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 December 31, 2022 Non-interest-bearing accounts $ 5,764,009 $ 6,176,998 Interest-bearing checking 1,794,477 1,811,153 Regular savings accounts 2,502,084 2,710,090 Money market accounts 2,143,700 2,198,288 Total interest-bearing transaction and saving accounts 6,440,261 6,719,531 Certificates of deposit: Certificates of deposit greater than or equal to $250,000 314,506 178,324 Certificates of deposit less than $250,000 635,426 545,206 Total certificates of deposit 949,932 723,530 Total deposits $ 13,154,202 $ 13,620,059 Included in total deposits: Public fund transaction and savings accounts $ 361,837 $ 392,859 Public fund interest-bearing certificates 26,857 26,810 Total public deposits $ 388,694 $ 419,669 |
Maturities of Certificates of Deposit | Scheduled maturities and weighted average interest rates of certificates of deposit at March 31, 2023 are as follows (dollars in thousands): March 31, 2023 Amount Weighted Average Rate Maturing in one year or less $ 767,151 1.99 % Maturing after one year through two years 143,143 2.21 Maturing after two years through three years 26,638 0.56 Maturing after three years through four years 7,165 0.37 Maturing after four years through five years 4,768 0.45 Maturing after five years 1,067 0.82 Total certificates of deposit $ 949,932 1.97 % |
FAIR VALUE OF FINANCIAL INSTR_2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Financial Instruments, by Balance Sheet Grouping | The following table presents estimated fair values of the Company’s financial instruments as of March 31, 2023 and December 31, 2022, whether or not recognized or recorded in the Consolidated Statements of Financial Condition (dollars in thousands): March 31, 2023 December 31, 2022 Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Assets: Cash and cash equivalents 1 $ 242,992 $ 242,992 $ 243,062 $ 243,062 Securities—trading 3 28,591 28,591 28,694 28,694 Securities—available-for-sale 2 2,653,860 2,653,860 2,789,031 2,789,031 Securities—held-to-maturity 2 1,102,122 949,214 1,109,319 933,513 Securities—held-to-maturity 3 7,837 7,848 8,648 8,667 Securities purchased under agreements to resell 2 150,000 150,000 300,000 300,000 Loans held for sale 2 49,016 49,053 56,857 56,948 Loans receivable, net 3 10,019,227 9,724,399 10,005,259 9,810,965 Equity securities 1 624 624 553 553 FHLB stock 3 16,800 16,800 12,000 12,000 Bank-owned life insurance 1 299,754 299,754 297,565 297,565 Mortgage servicing rights 3 14,659 33,555 15,331 35,148 SBA servicing rights 3 954 954 835 835 Investments in limited partnerships 3 12,394 12,394 12,427 12,427 Derivatives: Interest rate swaps 2 15,342 15,342 19,339 19,339 Interest rate lock and forward sales commitments 2,3 534 534 142 142 Liabilities: Demand, interest checking and money market accounts 2 9,702,186 9,702,186 10,186,439 10,186,439 Regular savings 2 2,502,084 2,502,084 2,710,090 2,710,090 Certificates of deposit 2 949,932 929,724 723,530 702,581 FHLB advances 2 170,000 170,000 50,000 50,000 Other borrowings 2 214,564 214,564 232,799 232,799 Subordinated notes, net 2 99,046 95,470 98,947 96,718 Junior subordinated debentures 3 74,703 74,703 74,857 74,857 Derivatives: Interest rate swaps 2 28,858 28,858 37,150 37,150 Interest rate lock and forward sales commitments 2,3 136 136 118 118 Risk participation agreement 2 85 85 67 67 |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables present financial assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets and liabilities as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 Level 1 Level 2 Level 3 Total Assets: Securities—trading Corporate bonds (Trust Preferred Securities) $ — $ — $ 28,591 $ 28,591 Securities—available-for-sale U.S. Government and agency obligations — 52,588 — 52,588 Municipal bonds — 173,721 — 173,721 Corporate bonds — 117,404 — 117,404 Mortgage-backed or related securities — 2,092,209 — 2,092,209 Asset-backed securities — 217,938 — 217,938 — 2,653,860 — 2,653,860 Loans held for sale (1) — 5,485 — 5,485 Equity securities 624 — — 624 SBA servicing rights — — 954 954 Investment in limited partnerships — — 12,394 12,394 Derivatives Interest rate swaps — 15,342 — 15,342 Interest rate lock and forward sales commitments — 49 485 534 $ 624 $ 2,674,736 $ 42,424 $ 2,717,784 Liabilities: Junior subordinated debentures $ — $ — $ 74,703 $ 74,703 Derivatives Interest rate swaps — 28,858 — 28,858 Interest rate lock and forward sales commitments — 131 5 136 Risk participation agreement — 85 — 85 $ — $ 29,074 $ 74,708 $ 103,782 December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Securities—trading Corporate bonds (Trust Preferred Securities) $ — $ — $ 28,694 $ 28,694 Securities—available-for-sale U.S. Government and agency obligations — 55,108 — 55,108 Municipal bonds — 261,209 — 261,209 Corporate bonds — 121,853 — 121,853 Mortgage-backed or related securities — 2,139,336 — 2,139,336 Asset-backed securities — 211,525 — 211,525 — 2,789,031 — 2,789,031 Loans held for sale (1) — 2,305 — 2,305 Equity securities 553 — — 553 SBA servicing rights — — 835 835 Investment in limited partnerships — — 12,427 12,427 Derivatives Interest rate swaps — 19,339 — 19,339 Interest rate lock and forward sales commitments — 61 81 142 $ 553 $ 2,810,736 $ 42,037 $ 2,853,326 Liabilities: Junior subordinated debentures $ — $ — $ 74,857 $ 74,857 Derivatives Interest rate swaps — 37,150 — 37,150 Interest rate lock and forward sales commitments — 76 42 118 Risk participation agreement — 67 — 67 $ — $ 37,293 $ 74,899 $ 112,192 |
Schedule of Valuation Technique, Unobservable Input, and Qualitative Information for Unobservable Inputs | The following table provides a description of the valuation technique, unobservable inputs, and quantitative and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring and non-recurring basis at March 31, 2023 and December 31, 2022: Weighted Average Rate Financial Instruments Valuation Technique Unobservable Inputs March 31, 2023 December 31, 2022 Corporate bonds (TPS) Discounted cash flows Discount rate 8.79 % 8.27 % Junior subordinated debentures Discounted cash flows Discount rate 8.79 % 8.27 % Loans individually evaluated Collateral valuations Discount to appraised value n/a n/a REO Appraisals Discount to appraised value 68.35 % 68.35 % Interest rate lock commitments Pricing model Pull-through rate 86.60 % 78.65 % Investments in limited partnerships Net Asset Value Infrequent transactions n/a n/a SBA servicing rights Discounted cash flows Constant prepayment rate 14.22 % 14.10 % |
Schedule of Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following tables provide a reconciliation of the assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three months ended March 31, 2023 and 2022 (in thousands): Three Months Ended March 31, 2023 Level 3 Fair Value Inputs TPS Borrowings—Junior Subordinated Debentures Interest Rate Lock and Forward Sales Commitments Investments in Limited Partnerships SBA Servicing Asset Beginning balance $ 28,694 $ 74,857 $ 39 $ 12,427 $ 835 Net change recognized in earnings (103) — 441 (520) 119 Net change recognized in accumulated other comprehensive income (AOCI) — (154) — — — Purchases, issuances and settlements — — — 487 — Ending balance at March 31, 2023 $ 28,591 $ 74,703 $ 480 $ 12,394 $ 954 Three Months Ended March 31, 2022 Level 3 Fair Value Inputs TPS Borrowings—Junior Subordinated Debentures Interest Rate Lock and Forward Sales Commitments Investments in Limited Partnerships SBA Servicing Asset Beginning balance $ 26,981 $ 119,815 $ 1,467 $ 10,257 $ 1,161 Net change recognized in earnings 373 — (1,533) (217) 1 Net change recognized in AOCI — 1,213 — — — Purchases, issuances and settlements — — — 942 — Redemptions — (50,518) — — Ending balance at March 31, 2022 $ 27,354 $ 70,510 $ (66) $ 10,982 $ 1,162 |
Schedule of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | The following tables present financial assets and liabilities measured at fair value on a non-recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 Level 1 Level 2 Level 3 Total Loans individually evaluated $ — $ — $ — $ — REO — — 340 340 Loans held for sale — 42,954 — 42,954 December 31, 2022 Level 1 Level 2 Level 3 Total Loans individually evaluated $ — $ — $ 1,883 $ 1,883 REO — — 340 340 Loans held for sale — 49,474 — 49,474 |
INCOME TAXES AND DEFERRED TAX_2
INCOME TAXES AND DEFERRED TAXES INCOME TAXES AND DEFERRED TAXES (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | The following table presents the balances of the Company’s tax credit investments and related unfunded commitments at March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 December 31, 2022 Tax credit investments $ 79,708 $ 71,430 Unfunded commitments—tax credit investments 52,346 44,563 The following table presents other information related to the Company’s tax credit investments for the three months ended March 31, 2023 and 2022 (in thousands): Three Months Ended March 31, 2023 2022 Tax credits and other tax benefits recognized $ 2,066 $ 1,554 Tax credit amortization expense included in provision for income taxes 1,722 1,308 |
CALCULATION OF WEIGHTED AVERA_2
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS) (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Weighted Shares Outstanding | The following table reconciles basic to diluted weighted average shares outstanding used to calculate earnings per share data for the three months ended March 31, 2023 and 2022 (in thousands, except shares and per share data): Three Months Ended 2023 2022 Net income $ 55,555 $ 43,963 Basic weighted average shares outstanding 34,239,533 34,300,742 Dilutive effect of unvested restricted stock 218,336 297,694 Diluted weighted shares outstanding 34,457,869 34,598,436 Earnings per common share Basic $ 1.62 $ 1.28 Diluted $ 1.61 $ 1.27 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Financial Instruments With Off-Balance-Sheet Risks | Outstanding commitments for which no asset or liability for the notional amount has been recorded consisted of the following at the dates indicated (in thousands): Contract or Notional Amount March 31, 2023 December 31, 2022 Commitments to extend credit $ 3,946,366 $ 4,031,954 Standby letters of credit and financial guarantees 39,312 26,119 Commitments to originate loans 74,719 53,266 Risk participation agreements 48,173 48,566 Derivatives also included in Note 13: Commitments to originate loans held for sale 26,810 10,525 Commitments to sell loans secured by one- to four-family residential properties 3,842 12,568 Commitments to sell securities related to mortgage banking activities 24,332 7,000 |
Schedule of fair value, off balance sheet risks, limited partnerships, commitment | As of March 31, 2023 and December 31, 2022, the funded balances and remaining outstanding commitments of these investments were as follows (in thousands): March 31, 2023 December 31, 2022 Funded Balance Unfunded Balance Funded Balance Unfunded Balance Limited partnerships investments $ 10,759 $ 11,741 $ 10,272 $ 12,228 |
DERIVATIVES AND HEDGING (Tables
DERIVATIVES AND HEDGING (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivatives Designated in Hedge Relationships | Asset Derivatives Liability Derivatives March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Notional/ Contract Amount Fair Value Notional/ Contract Amount Fair Value Notional/ Contract Amount Fair Value Notional/ Contract Amount Fair Value Hedged interest rate swaps $ — $ — $ — $ — $ 400,000 $ 21,747 $ 400,000 $ 26,485 Interest rate swaps not designated in hedge relationships 429,876 28,821 440,731 37,119 429,876 28,858 440,731 37,150 Less: Master netting agreements (13,479) (17,780) (13,479) (17,780) Less: Cash settlements — — (8,268) (8,705) Net interest rate swaps 15,342 19,339 28,858 37,150 Risk participation agreements 1,225 — 1,283 — 46,948 85 47,283 67 Mortgage loan commitments 31,296 485 15,920 81 — — 12,367 42 Forward sales contracts 1,460 49 16,568 61 30,623 136 3,000 76 Total $ 463,857 $ 15,876 $ 474,502 $ 19,481 $ 507,447 $ 29,079 $ 503,381 $ 37,335 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following table presents the effect of cash flow hedge accounting on AOCI for the three months ended March 31, 2023 and 2022 (in thousands): For the Three Months Ended March 31, 2023 Amount of Gain or (Loss) Recognized in AOCI on Derivative Amount of Gain or (Loss) Recognized in AOCI Included Component Amount of Gain or (Loss) Recognized in AOCI Excluded Component Location of Gain or (Loss) Recognized from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component Interest rate swaps $ 1,125 $ 1,125 $ — Interest Income $ (3,613) $ (3,613) $ — For the Three Months Ended March 31, 2022 Amount of Gain or (Loss) Recognized in AOCI on Derivative Amount of Gain or (Loss) Recognized in AOCI Included Component Amount of Gain or (Loss) Recognized in AOCI Excluded Component Location of Gain or (Loss) Recognized from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component Interest rate swaps $ (14,025) $ (14,025) $ — Interest Income $ 751 $ 751 $ — |
Schedule of Fair Value, Measured on Nonrecurring Basis, Gains (Losses) From Fair Value Adjustments [Table Text Block] | Gains (losses) recognized in income within Mortgage banking operations on non-designated hedging instruments for the three months ended March 31, 2023 and 2022, were as follows (in thousands): Three Months Ended 2023 2022 Mortgage loan commitments $ 440 $ (1,532) Forward sales contracts (142) 2,212 $ 298 $ 680 |
Offsetting Assets and Liabilities | as of March 31, 2023 and December 31, 2022 (in thousands): March 31, 2023 Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition Gross Amounts Recognized Amounts offset Net Amounts Netting Adjustment Per Applicable Master Netting Agreements Fair Value Net Amount Derivative assets Interest rate swaps $ 28,821 $ (13,479) $ 15,342 $ — $ — $ 15,342 $ 28,821 $ (13,479) $ 15,342 $ — $ — $ 15,342 Derivative liabilities Interest rate swaps $ 50,605 $ (21,747) $ 28,858 $ — $ (13,435) $ 15,423 $ 50,605 $ (21,747) $ 28,858 $ — $ (13,435) $ 15,423 December 31, 2022 Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition Gross Amounts Recognized Amounts offset Net Amounts Netting Adjustment Per Applicable Master Netting Agreements Fair Value Net Amount Derivative assets Interest rate swaps $ 37,119 $ (17,780) $ 19,339 $ — $ — $ 19,339 $ 37,119 $ (17,780) $ 19,339 $ — $ — $ 19,339 Derivative liabilities Interest rate swaps $ 63,634 $ (26,484) $ 37,150 $ — $ (14,972) $ 22,178 $ 63,634 $ (26,484) $ 37,150 $ — $ (14,972) $ 22,178 |
SECURITIES (Schedule of Securit
SECURITIES (Schedule of Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Schedule of Securities [Line Items] | ||
Debt Securities, Trading, Amortized Cost | $ 27,203 | $ 27,203 |
Securities—trading | 28,591 | 28,694 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 3,040,211 | 3,218,777 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2,408 | 1,463 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 388,759 | 431,209 |
Debt Securities, Available-for-Sale | 2,653,860 | 2,789,031 |
Held-to-maturity Securities, Amortized Cost | 1,109,959 | 1,117,967 |
Held-to-maturity Securities, Gross Unrealized Gains | 359 | 109 |
Held-to-maturity Securities, Gross Unrealized Losses | 153,256 | 175,896 |
Securities—held-to-maturity | 957,062 | 942,180 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 364 | (379) |
debt securities, held-to-maturity, accrued interest receivable | 4,400 | 4,800 |
Debt Securities, Available-for-Sale, Accrued Interest Receivable | 11,900 | 12,400 |
U.S. Government and agency obligations | ||
Schedule of Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 53,689 | 56,344 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 10 | 8 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 1,111 | 1,244 |
Debt Securities, Available-for-Sale | 52,588 | 55,108 |
Held-to-maturity Securities, Amortized Cost | 310 | 312 |
Held-to-maturity Securities, Gross Unrealized Gains | 1 | 0 |
Held-to-maturity Securities, Gross Unrealized Losses | 5 | 7 |
Securities—held-to-maturity | 306 | 305 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | 0 |
Municipal bonds | ||
Schedule of Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 205,152 | 301,449 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 482 | 530 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 31,913 | 40,770 |
Debt Securities, Available-for-Sale | 173,721 | 261,209 |
Held-to-maturity Securities, Amortized Cost | 501,361 | 503,117 |
Held-to-maturity Securities, Gross Unrealized Gains | 358 | 109 |
Held-to-maturity Securities, Gross Unrealized Losses | 59,063 | 70,907 |
Securities—held-to-maturity | 442,656 | 432,319 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 173 | 183 |
Corporate bonds | ||
Schedule of Securities [Line Items] | ||
Debt Securities, Trading, Amortized Cost | 27,203 | 27,203 |
Securities—trading | 28,591 | 28,694 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 133,269 | 133,334 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 15,865 | 11,481 |
Debt Securities, Available-for-Sale | 117,404 | 121,853 |
Held-to-maturity Securities, Amortized Cost | 2,929 | 2,961 |
Held-to-maturity Securities, Gross Unrealized Gains | 0 | 0 |
Held-to-maturity Securities, Gross Unrealized Losses | 19 | 16 |
Securities—held-to-maturity | 2,910 | 2,945 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 191 | 196 |
Mortgage-backed or related securities | ||
Schedule of Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 2,425,602 | 2,505,172 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,647 | 885 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 335,040 | 366,721 |
Debt Securities, Available-for-Sale | 2,092,209 | 2,139,336 |
Held-to-maturity Securities, Amortized Cost | 605,359 | 611,577 |
Held-to-maturity Securities, Gross Unrealized Gains | 0 | 0 |
Held-to-maturity Securities, Gross Unrealized Losses | 94,169 | 104,966 |
Securities—held-to-maturity | 511,190 | 506,611 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | 0 |
Asset-backed securities | ||
Schedule of Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 222,499 | 222,478 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 269 | 40 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 4,830 | 10,993 |
Debt Securities, Available-for-Sale | $ 217,938 | $ 211,525 |
SECURITIES (Securities with Con
SECURITIES (Securities with Continuous Loss Position) (Details) $ in Thousands | Mar. 31, 2023 USD ($) numberOfSecurities | Dec. 31, 2022 USD ($) numberOfSecurities |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 643,639 | $ 1,462,517 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,846,823 | 1,222,815 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,490,462 | 2,685,332 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 27,558 | 137,551 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 361,201 | 293,658 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 388,759 | $ 431,209 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | numberOfSecurities | 259 | 298 |
U.S. Government and agency obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 24,785 | $ 33,407 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 23,739 | 16,732 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 48,524 | 50,139 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 216 | 882 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 895 | 362 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 1,111 | 1,244 |
Municipal bonds | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 49,555 | 188,920 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 106,391 | 33,907 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 155,946 | 222,827 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,218 | 25,592 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 30,695 | 15,178 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 31,913 | 40,770 |
Corporate bonds | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 42,252 | 108,187 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 74,552 | 13,066 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 116,804 | 121,253 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4,953 | 9,547 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 10,912 | 1,934 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 15,865 | 11,481 |
Mortgage-backed or related securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 403,356 | 930,566 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,558,227 | 1,159,110 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,961,583 | 2,089,676 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 19,053 | 90,537 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 315,987 | 276,184 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 335,040 | 366,721 |
Asset-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 123,691 | 201,437 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 83,914 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 207,605 | 201,437 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2,118 | 10,993 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2,712 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 4,830 | $ 10,993 |
SECURITIES (Available-for-Sale
SECURITIES (Available-for-Sale Securities, Gross Gains and Losses on Sale) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Gain (Loss) on Securities [Line Items] | ||
Debt Securities, Available-for-sale, Realized Gain | $ 232 | $ 436 |
Debt Securities, Available-for-sale, Realized Loss | 7,484 | 1 |
Debt Securities, Available-for-sale, Realized Gain (Loss) | $ (7,252) | $ 435 |
SECURITIES (Securities Debt Mat
SECURITIES (Securities Debt Maturities) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Investments, Debt and Equity Securities [Abstract] | ||
Trading Securities, Amortized Cost, Maturing in one year or less | $ 0 | |
Trading Securities, Amortized Cost, Maturing after one year through five years | 0 | |
Trading Securities, Amortized Cost, Maturing after five years through ten years | 0 | |
Debt Securities, Trading, Debt Maturities, After Year Ten, Amortized Cost Basis | 27,203 | |
Debt Securities, Trading, Amortized Cost | 27,203 | $ 27,203 |
Trading Securities, Fair Value, Maturing in one year or less | 0 | |
Trading Securities, Fair Value, Maturing after one year through five years | 0 | |
Trading Securities, Fair Value, Maturing after five years through ten years | 0 | |
Debt Securities, Trading, Debt Maturities, After Year Ten, Fair Value | 28,591 | |
Trading Securities, Fair Value | 28,591 | 28,694 |
Available-for-sale Securities, Amortized Cost, Maturing in one year or less | 8,110 | |
Available-for-sale Securities, Amortized Cost, Maturing after one year through five years | 207,623 | |
Available-for-sale Securities, Amortized Cost, Maturing after five years through ten years | 471,431 | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | 2,353,047 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | 3,040,211 | 3,218,777 |
Available-for-sale Securities, Fair Value, Maturing in one year or less | 8,029 | |
Available-for-sale Securities, Fair Value, Maturing after one year through five years | 192,942 | |
Available-for-sale Securities, Fair Value, Maturing after five years through ten years | 422,224 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 2,030,665 | |
Debt Securities, Available-for-sale | 2,653,860 | 2,789,031 |
Held-to-maturity Securities, Amortized Cost, Maturing in one year or less | 22,368 | |
Held-to-maturity Securities, Amortized Cost, Maturing after one year through five years | 22,945 | |
Held-to-maturity Securities, Amortized Cost, Maturing after five years through ten years | 25,643 | |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 1,039,003 | |
Held-to-maturity Securities, Amortized Cost | 1,109,959 | 1,117,967 |
Held-to-maturity Securities, Fair Value, Maturing in one year or less | 22,157 | |
Held-to-maturity Securities, Fair Value, Maturing after one year through five years | 22,417 | |
Held-to-maturity Securities, Fair Value, Maturing after five years through ten years | 24,866 | |
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 887,622 | |
Debt Securities, Held-to-maturity, Fair Value | $ 957,062 | $ 942,180 |
SECURITIES (Securities Pledged)
SECURITIES (Securities Pledged) (Details) $ in Thousands | Mar. 31, 2023 USD ($) |
Schedule of Pledged Financial Instruments, Not Separately Reported [Line Items] | |
Pledged Financial Instruments, Not Separately Reported, Carrying Value | $ 685,678 |
Securities pledged for Interest Rate Swap Counterparties, Amortized Cost | 688,202 |
Pledged Financial Instruments, Not Separately Reported, Fair Value | 595,925 |
Asset Pledged as Collateral without Right | Securities For State and Local Government Public Deposits | |
Schedule of Pledged Financial Instruments, Not Separately Reported [Line Items] | |
Pledged Financial Instruments, Not Separately Reported, Carrying Value | 238,597 |
Securities pledged for Interest Rate Swap Counterparties, Amortized Cost | 240,736 |
Pledged Financial Instruments, Not Separately Reported, Fair Value | 216,883 |
Asset Pledged as Collateral without Right | Securities For Federal Reserve | |
Schedule of Pledged Financial Instruments, Not Separately Reported [Line Items] | |
Pledged Financial Instruments, Not Separately Reported, Carrying Value | 120,463 |
Securities pledged for Interest Rate Swap Counterparties, Amortized Cost | 120,463 |
Pledged Financial Instruments, Not Separately Reported, Fair Value | 103,769 |
Asset Pledged as Collateral without Right | Securities for Interest Rate Swap Counterparties | |
Schedule of Pledged Financial Instruments, Not Separately Reported [Line Items] | |
Pledged Financial Instruments, Not Separately Reported, Carrying Value | 6,422 |
Securities pledged for Interest Rate Swap Counterparties, Amortized Cost | 6,807 |
Pledged Financial Instruments, Not Separately Reported, Fair Value | 6,268 |
Asset Pledged as Collateral without Right | Securities Sold under Agreements to Repurchase | |
Schedule of Pledged Financial Instruments, Not Separately Reported [Line Items] | |
Pledged Financial Instruments, Not Separately Reported, Carrying Value | 317,761 |
Securities pledged for Interest Rate Swap Counterparties, Amortized Cost | 317,761 |
Pledged Financial Instruments, Not Separately Reported, Fair Value | 266,592 |
Asset Pledged as Collateral without Right | Interest Bearing Deposits for Other Debt Facilities | |
Schedule of Pledged Financial Instruments, Not Separately Reported [Line Items] | |
Pledged Financial Instruments, Not Separately Reported, Carrying Value | 2,435 |
Securities pledged for Interest Rate Swap Counterparties, Amortized Cost | 2,435 |
Pledged Financial Instruments, Not Separately Reported, Fair Value | $ 2,413 |
SECURITIES (Textual) (Details)
SECURITIES (Textual) (Details) | 3 Months Ended | ||
Mar. 31, 2023 USD ($) numberOfSecurities | Mar. 31, 2022 USD ($) numberOfSecurities | Dec. 31, 2022 numberOfSecurities | |
Investments, Debt and Equity Securities [Abstract] | |||
Trading Securities, Number of Securities on Nonaccrual Status | 0 | 0 | |
Debt Securities, Available-for-sale [Abstract] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 259 | 298 | |
Available-for-sale Securities, Number of Securities in Nonaccrual Status | 0 | 0 | |
Held-to-maturity Securities [Abstract] | |||
Trading Securities, Number of Securities Sold | 0 | 0 | |
Debt Securities, Trading, Unrealized Gain | $ | $ 373,000 | ||
Debt Securities, Trading, Unrealized Loss | $ | $ (103,000) |
SECURITIES (Debt Securities, He
SECURITIES (Debt Securities, Held-to-Maturity, Credit Rating) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | $ 1,109,959 | $ 1,117,967 |
Credit Rating, Not Credit Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 601,581 | 608,681 |
U.S. Government and agency obligations | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 310 | 312 |
U.S. Government and agency obligations | Credit Rating, Not Credit Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 310 | 312 |
Municipal bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 501,361 | 503,117 |
Municipal bonds | Credit Rating, Not Credit Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 10,109 | 11,012 |
Corporate bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 2,929 | 2,961 |
Corporate bonds | Credit Rating, Not Credit Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 2,429 | 2,461 |
Mortgage-backed or related securities | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 605,359 | 611,577 |
Mortgage-backed or related securities | Credit Rating, Not Credit Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 588,733 | 594,896 |
Standard & Poor's, AAA to A Rating | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 508,378 | 509,286 |
Standard & Poor's, AAA to A Rating | U.S. Government and agency obligations | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 0 | 0 |
Standard & Poor's, AAA to A Rating | Municipal bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 491,252 | 492,105 |
Standard & Poor's, AAA to A Rating | Corporate bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 500 | 500 |
Standard & Poor's, AAA to A Rating | Mortgage-backed or related securities | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | $ 16,626 | $ 16,681 |
LOANS RECEIVABLE AND THE ALLO_3
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Loans by Type) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 10,160,684 | $ 10,146,724 | ||
Allowance for credit losses - loans | (141,457) | (141,465) | $ (125,471) | $ (132,099) |
Net loans | $ 10,019,227 | $ 10,005,259 | ||
Percent of total loans | 100% | 100% | ||
Unearned loan fees in excess of unamortized costs | $ 8,000 | $ 8,100 | ||
Discount on acquired loans, net | 6,100 | 6,600 | ||
Financing Receivable, Accrued Interest, before Allowance for Credit Loss | 35,600 | 39,800 | ||
Commerical real estate - owner-occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 865,705 | $ 845,320 | ||
Percent of total loans | 8.50% | 8.30% | ||
Commercial real estate - investment properties | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 1,520,261 | $ 1,589,975 | ||
Percent of total loans | 15% | 15.70% | ||
Small Balance Commercial Real Estate Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 1,179,749 | $ 1,200,251 | ||
Percent of total loans | 11.60% | 11.80% | ||
Multifamily Real Estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 696,864 | $ 645,071 | ||
Allowance for credit losses - loans | $ (8,475) | $ (7,734) | (7,183) | (7,043) |
Percent of total loans | 6.80% | 6.40% | ||
Commercial construction | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 191,051 | $ 184,876 | ||
Percent of total loans | 1.90% | 1.80% | ||
Multifamily construction | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 362,425 | $ 325,816 | ||
Percent of total loans | 3.60% | 3.20% | ||
One- to four- family construction | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 584,655 | $ 647,329 | ||
Percent of total loans | 5.80% | 6.40% | ||
Land and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 329,438 | $ 328,475 | ||
Percent of total loans | 3.20% | 3.20% | ||
Commercial Business | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 1,266,047 | $ 1,283,407 | ||
Allowance for credit losses - loans | $ (33,735) | $ (33,299) | (26,655) | (26,421) |
Percent of total loans | 12.50% | 12.70% | ||
Loans And LeasesReceivable Gross Carrying Amount, SBA Paycheck Protection Program | $ 5,600 | $ 7,600 | ||
Small business scored | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 960,650 | $ 947,092 | ||
Percent of total loans | 9.40% | 9.30% | ||
Agricultural business, including secured by farmland | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 272,707 | $ 295,077 | ||
Allowance for credit losses - loans | $ (3,094) | $ (3,475) | (2,586) | (3,190) |
Percent of total loans | 2.70% | 2.90% | ||
Loans And LeasesReceivable Gross Carrying Amount, SBA Paycheck Protection Program | $ 330 | $ 334 | ||
One- to four-family residential [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | 1,252,104 | 1,173,112 | ||
Allowance for credit losses - loans | $ (15,736) | $ (14,729) | (8,109) | (8,205) |
Percent of total loans | 12.30% | 11.60% | ||
Consumer—home equity revolving lines of credit | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 564,334 | $ 566,291 | ||
Percent of total loans | 5.60% | 5.60% | ||
Consumer-other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 114,694 | $ 114,632 | ||
Allowance for credit losses - loans | $ (9,009) | $ (8,971) | $ (6,995) | $ (6,951) |
Percent of total loans | 1.10% | 1.10% |
LOANS RECEIVABLE AND THE ALLO_4
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Troubled Debt Restructuring) (Details) | Mar. 31, 2023 USD ($) Months |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |
Financing Receivable, Troubled Debt Restructuring | $ 6,107,000 |
Financing Receivable, Modified, Commitment to Lend | 436,000 |
Extended Maturity | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |
Financing Receivable, Troubled Debt Restructuring | $ 6,107,000 |
Financing Receivable, Modified, Weighted Average Term Increase in Months | Months | (7) |
One- to four- family construction | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |
Financing Receivable, Troubled Debt Restructuring | $ 6,107,000 |
One- to four- family construction | Extended Maturity | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |
Financing Receivable, Troubled Debt Restructuring | $ 6,107,000 |
Financing Receivable, Modified, Weighted Average Term Increase in Months | Months | (7) |
LOANS RECEIVABLE AND THE ALLO_5
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Risk-Rated and Non-Risk Rated Loans by Grade and Other Characteristic) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Charge-offs | $ 1,480 | $ 246 | |
Owner-occupied | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 35,336 | $ 180,906 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 170,357 | 198,787 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 190,447 | 157,483 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 153,821 | 90,564 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 89,663 | 57,095 | |
Prior | 200,447 | 149,251 | |
Revolving Loans | 25,634 | 11,234 | |
Total Loans | 865,705 | 845,320 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 0 | ||
Commercial real estate - investment properties | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 33,547 | 190,627 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 181,326 | 323,160 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 296,106 | 142,476 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 127,945 | 186,136 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 180,315 | 169,667 | |
Prior | 676,579 | 550,906 | |
Revolving Loans | 24,443 | 27,003 | |
Total Loans | 1,520,261 | 1,589,975 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 0 | ||
Multifamily Real Estate | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 38,932 | 139,383 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 149,727 | 177,784 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 177,809 | 93,961 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 100,126 | 46,460 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 46,210 | 29,665 | |
Prior | 182,443 | 156,140 | |
Revolving Loans | 1,617 | 1,678 | |
Total Loans | 696,864 | 645,071 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 0 | 0 | |
Commercial construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 46,675 | 115,160 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 83,325 | 46,680 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 38,168 | 12,952 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 12,890 | 4,260 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 4,229 | 5,824 | |
Prior | 5,764 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 191,051 | 184,876 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 0 | ||
Multifamily construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 28,035 | 142,680 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 155,074 | 161,066 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 165,128 | 20,622 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 12,770 | 1,448 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,418 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 362,425 | 325,816 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 0 | ||
One- to four- family construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 173,244 | 586,174 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 376,272 | 59,436 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 34,076 | 677 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 137 | 331 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 331 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 595 | 711 | |
Total Loans | 584,655 | 647,329 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 0 | ||
Land and land development | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 63,760 | 199,339 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 151,355 | 88,066 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 75,204 | 16,278 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 15,861 | 11,866 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 10,754 | 6,339 | |
Prior | 12,165 | 6,248 | |
Revolving Loans | 339 | 339 | |
Total Loans | 329,438 | 328,475 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 0 | ||
Commercial Business | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 49,403 | 250,147 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 250,130 | 161,765 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 154,139 | 166,917 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 159,930 | 127,577 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 122,826 | 92,666 | |
Prior | 167,861 | 86,182 | |
Revolving Loans | 361,758 | 398,153 | |
Total Loans | 1,266,047 | 1,283,407 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 581 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 25 | ||
Financing Receivable, Revolving, Writeoff | 9 | ||
Charge-offs | 615 | 82 | |
Agricultural business, including secured by farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 11,048 | 38,863 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 39,958 | 36,746 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 34,228 | 19,217 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 18,938 | 34,919 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 34,270 | 24,710 | |
Prior | 51,667 | 29,662 | |
Revolving Loans | 82,598 | 110,960 | |
Total Loans | 272,707 | 295,077 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 0 | 0 | |
Small Balance Commercial Real Estate Loans [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 27,002 | 177,605 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 173,956 | 215,801 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 217,436 | 172,746 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 176,037 | 134,552 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 125,508 | 142,592 | |
Prior | 459,293 | 356,325 | |
Revolving Loans | 517 | 630 | |
Total Loans | 1,179,749 | 1,200,251 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 0 | ||
Small business scored | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 49,647 | 307,255 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 298,784 | 202,200 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 193,587 | 99,947 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 95,683 | 82,297 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 76,681 | 56,685 | |
Prior | 124,701 | 78,617 | |
Revolving Loans | 121,567 | 120,091 | |
Total Loans | 960,650 | 947,092 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 42 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 49 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 107 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 202 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 143 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 543 | ||
One- to four- family residential | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 84,303 | 558,923 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 569,003 | 281,996 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 275,122 | 61,400 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 60,860 | 35,319 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 34,821 | 38,065 | |
Prior | 227,352 | 195,996 | |
Revolving Loans | 643 | 1,413 | |
Total Loans | 1,252,104 | 1,173,112 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 30 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 30 | 0 | |
Consumer—home equity revolving lines of credit | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 5,065 | 7,491 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 2,216 | 1,193 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,735 | 477 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 2,373 | 1,831 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,986 | 1,798 | |
Prior | 6,601 | 4,722 | |
Revolving Loans | 544,358 | 548,779 | |
Total Loans | 564,334 | 566,291 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 13 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 15 | ||
Financing Receivable, Revolving, Writeoff | 0 | ||
Charge-offs | 28 | ||
Consumer-other | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 4,215 | 39,830 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 37,832 | 12,157 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 11,488 | 9,379 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 8,369 | 5,724 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 5,078 | 5,386 | |
Prior | 20,860 | 16,755 | |
Revolving Loans | 26,852 | 25,401 | |
Total Loans | 114,694 | 114,632 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 19 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 20 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 4 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 20 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 39 | ||
Financing Receivable, Revolving, Writeoff | 162 | ||
Charge-offs | 264 | $ 157 | |
Pass | Owner-occupied | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 33,565 | 167,150 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 160,079 | 198,787 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 190,447 | 150,272 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 141,823 | 74,171 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 72,672 | 57,095 | |
Prior | 200,153 | 148,902 | |
Revolving Loans | 25,434 | 10,833 | |
Total Loans | 824,173 | 807,210 | |
Pass | Commercial real estate - investment properties | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 33,547 | 190,627 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 181,326 | 323,160 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 296,106 | 142,476 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 127,945 | 182,853 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 180,315 | 169,667 | |
Prior | 673,599 | 547,899 | |
Revolving Loans | 23,147 | 25,691 | |
Total Loans | 1,515,985 | 1,582,373 | |
Pass | Multifamily Real Estate | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 38,932 | 139,383 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 149,727 | 177,784 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 177,809 | 93,961 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 100,126 | 46,460 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 46,210 | 29,665 | |
Prior | 182,443 | 156,140 | |
Revolving Loans | 1,617 | 1,678 | |
Total Loans | 696,864 | 645,071 | |
Pass | Commercial construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 43,742 | 112,229 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 83,325 | 46,679 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 38,168 | 12,952 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 12,890 | 4,260 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 4,229 | 1,107 | |
Prior | 1,077 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 183,431 | 177,227 | |
Pass | Multifamily construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 28,035 | 142,680 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 155,074 | 161,066 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 165,128 | 20,622 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 12,770 | 1,448 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,418 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 362,425 | 325,816 | |
Pass | One- to four- family construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 167,004 | 572,701 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 376,272 | 56,530 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 30,106 | 677 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 137 | 331 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 331 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 595 | 711 | |
Total Loans | 574,445 | 630,950 | |
Pass | Land and land development | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 63,156 | 199,339 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 151,355 | 88,066 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 75,204 | 16,278 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 15,861 | 11,866 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 10,754 | 6,242 | |
Prior | 11,993 | 6,164 | |
Revolving Loans | 339 | 339 | |
Total Loans | 328,662 | 328,294 | |
Pass | Commercial Business | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 49,403 | 249,609 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 249,239 | 149,140 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 141,427 | 161,494 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 153,697 | 126,416 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 121,717 | 86,712 | |
Prior | 160,236 | 85,386 | |
Revolving Loans | 354,670 | 391,852 | |
Total Loans | 1,230,389 | 1,250,609 | |
Pass | Agricultural business, including secured by farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 9,494 | 36,848 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 37,948 | 35,440 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 32,956 | 18,946 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 18,667 | 28,354 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 27,705 | 24,710 | |
Prior | 49,079 | 27,063 | |
Revolving Loans | 82,499 | 109,606 | |
Total Loans | 258,348 | 280,967 | |
Special Mention | Owner-occupied | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 2,829 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 41 | 42 | |
Revolving Loans | 0 | 201 | |
Total Loans | 41 | 3,072 | |
Special Mention | Commercial real estate - investment properties | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Special Mention | Multifamily Real Estate | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Special Mention | Commercial construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Special Mention | Multifamily construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Special Mention | One- to four- family construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Special Mention | Land and land development | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Special Mention | Commercial Business | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 74 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 64 | 26 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 3,467 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 3,372 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 200 | |
Total Loans | 3,436 | 3,767 | |
Special Mention | Agricultural business, including secured by farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 336 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 302 | 271 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 271 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 357 | |
Total Loans | 573 | 964 | |
Substandard | Owner-occupied | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,771 | 13,756 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 10,278 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 7,211 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 11,998 | 13,564 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 16,991 | 0 | |
Prior | 253 | 307 | |
Revolving Loans | 200 | 200 | |
Total Loans | 41,491 | 35,038 | |
Substandard | Commercial real estate - investment properties | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 3,283 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 2,980 | 3,007 | |
Revolving Loans | 1,296 | 1,312 | |
Total Loans | 4,276 | 7,602 | |
Substandard | Multifamily Real Estate | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Substandard | Commercial construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 2,933 | 2,931 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 1 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 4,717 | |
Prior | 4,687 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 7,620 | 7,649 | |
Substandard | Multifamily construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Substandard | One- to four- family construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 6,240 | 13,473 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 2,906 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 3,970 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 10,210 | 16,379 | |
Substandard | Land and land development | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 604 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 97 | |
Prior | 172 | 84 | |
Revolving Loans | 0 | 0 | |
Total Loans | 776 | 181 | |
Substandard | Commercial Business | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 464 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 827 | 12,599 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 12,712 | 1,956 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 2,861 | 1,161 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,109 | 5,954 | |
Prior | 7,625 | 796 | |
Revolving Loans | 7,088 | 6,101 | |
Total Loans | 32,222 | 29,031 | |
Substandard | Agricultural business, including secured by farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,554 | 2,015 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 2,010 | 970 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 970 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 6,565 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 6,565 | 0 | |
Prior | 2,588 | 2,599 | |
Revolving Loans | 99 | 997 | |
Total Loans | 13,786 | 13,146 | |
Doubtful | Owner-occupied | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Doubtful | Commercial real estate - investment properties | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Doubtful | Multifamily Real Estate | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Doubtful | Commercial construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Doubtful | Multifamily construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Doubtful | One- to four- family construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Doubtful | Land and land development | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Doubtful | Commercial Business | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Doubtful | Agricultural business, including secured by farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Loss | Owner-occupied | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Loss | Commercial real estate - investment properties | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Loss | Multifamily Real Estate | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Loss | Commercial construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Loss | Multifamily construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Loss | One- to four- family construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Loss | Land and land development | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Loss | Commercial Business | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Loss | Agricultural business, including secured by farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
Current | Small Balance Commercial Real Estate Loans [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 27,002 | 177,605 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 173,956 | 215,801 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 217,436 | 172,286 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 175,592 | 134,552 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 125,339 | 142,592 | |
Prior | 457,810 | 354,924 | |
Revolving Loans | 517 | 630 | |
Total Loans | 1,177,652 | 1,198,390 | |
Current | Small business scored | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 49,647 | 307,109 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 298,194 | 201,628 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 192,903 | 99,867 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 95,064 | 81,603 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 75,968 | 56,420 | |
Prior | 124,084 | 78,025 | |
Revolving Loans | 120,923 | 119,281 | |
Total Loans | 956,783 | 943,933 | |
Current | One- to four- family residential | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 83,243 | 555,833 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 568,763 | 279,331 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 272,265 | 59,672 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 59,437 | 34,607 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 32,785 | 37,740 | |
Prior | 223,049 | 191,890 | |
Revolving Loans | 643 | 1,335 | |
Total Loans | 1,240,185 | 1,160,408 | |
Current | Consumer—home equity revolving lines of credit | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 5,065 | 7,442 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 2,216 | 1,089 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,534 | 329 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,186 | 1,355 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,434 | 1,611 | |
Prior | 5,484 | 3,788 | |
Revolving Loans | 543,138 | 547,068 | |
Total Loans | 560,057 | 562,682 | |
Current | Consumer-other | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 4,215 | 39,740 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 37,789 | 12,138 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 11,467 | 9,334 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 8,306 | 5,695 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 5,061 | 5,384 | |
Prior | 20,780 | 16,675 | |
Revolving Loans | 26,691 | 25,219 | |
Total Loans | 114,309 | 114,185 | |
30-59 Days Past Due | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 16,209 | 15,814 | |
30-59 Days Past Due | Owner-occupied | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
30-59 Days Past Due | Commercial real estate - investment properties | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
30-59 Days Past Due | Multifamily Real Estate | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
30-59 Days Past Due | Commercial construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
30-59 Days Past Due | Multifamily construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
30-59 Days Past Due | One- to four- family construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 1,756 | 900 | |
30-59 Days Past Due | Land and land development | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 682 | 921 | |
30-59 Days Past Due | Commercial Business | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 885 | 2,100 | |
30-59 Days Past Due | Agricultural business, including secured by farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 2,173 | 1,185 | |
30-59 Days Past Due | Small Balance Commercial Real Estate Loans [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 460 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 445 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 169 | 0 | |
Prior | 1,481 | 1,399 | |
Revolving Loans | 0 | 0 | |
Total Loans | 2,095 | 1,859 | |
30-59 Days Past Due | Small business scored | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 146 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 590 | 518 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 485 | 54 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 526 | 262 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 46 | |
Prior | 103 | 280 | |
Revolving Loans | 239 | 173 | |
Total Loans | 1,943 | 1,479 | |
30-59 Days Past Due | One- to four- family residential | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 2,030 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 846 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,041 | 755 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 664 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 1,325 | 116 | |
Prior | 1,859 | 1,462 | |
Revolving Loans | 0 | 78 | |
Total Loans | 4,889 | 5,287 | |
30-59 Days Past Due | Consumer—home equity revolving lines of credit | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 49 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 40 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 75 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 72 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 20 | 74 | |
Prior | 314 | 214 | |
Revolving Loans | 1,094 | 1,372 | |
Total Loans | 1,500 | 1,824 | |
30-59 Days Past Due | Consumer-other | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 49 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 43 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 2 | 16 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 44 | 5 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 12 | 2 | |
Prior | 78 | 67 | |
Revolving Loans | 107 | 120 | |
Total Loans | 286 | 259 | |
60-89 Days Past Due | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 4,585 | 7,429 | |
60-89 Days Past Due | Owner-occupied | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
60-89 Days Past Due | Commercial real estate - investment properties | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
60-89 Days Past Due | Multifamily Real Estate | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
60-89 Days Past Due | Commercial construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
60-89 Days Past Due | Multifamily construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
60-89 Days Past Due | One- to four- family construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
60-89 Days Past Due | Land and land development | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
60-89 Days Past Due | Commercial Business | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 132 | 4,145 | |
60-89 Days Past Due | Agricultural business, including secured by farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 1,648 | 0 | |
60-89 Days Past Due | Small Balance Commercial Real Estate Loans [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | 0 | 0 | |
60-89 Days Past Due | Small business scored | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 54 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 22 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 275 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 37 | 149 | |
Prior | 17 | 7 | |
Revolving Loans | 239 | 176 | |
Total Loans | 315 | 661 | |
60-89 Days Past Due | One- to four- family residential | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,060 | 1,060 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 240 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 115 | |
Prior | 436 | 1,067 | |
Revolving Loans | 0 | 0 | |
Total Loans | 1,736 | 2,242 | |
60-89 Days Past Due | Consumer—home equity revolving lines of credit | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 50 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 151 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 49 | |
Prior | 396 | 45 | |
Revolving Loans | 126 | 59 | |
Total Loans | 673 | 203 | |
60-89 Days Past Due | Consumer-other | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 41 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 9 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 19 | 29 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1 | 24 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 5 | 0 | |
Prior | 2 | 13 | |
Revolving Loans | 54 | 62 | |
Total Loans | 81 | 178 | |
90 Days Past Due | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 16,457 | 9,128 | |
90 Days Past Due | Owner-occupied | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
90 Days Past Due | Commercial real estate - investment properties | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
90 Days Past Due | Multifamily Real Estate | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
90 Days Past Due | Commercial construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
90 Days Past Due | Multifamily construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
90 Days Past Due | One- to four- family construction | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 0 | 0 | |
90 Days Past Due | Land and land development | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 96 | 97 | |
90 Days Past Due | Commercial Business | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 6,492 | 649 | |
90 Days Past Due | Agricultural business, including secured by farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans | 842 | 594 | |
90 Days Past Due | Small Balance Commercial Real Estate Loans [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 2 | 2 | |
Revolving Loans | 0 | 0 | |
Total Loans | 2 | 2 | |
90 Days Past Due | Small business scored | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 177 | 26 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 93 | 157 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 676 | 70 | |
Prior | 497 | 305 | |
Revolving Loans | 166 | 461 | |
Total Loans | 1,609 | 1,019 | |
90 Days Past Due | One- to four- family residential | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 1,819 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,816 | 973 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 759 | 712 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 711 | 94 | |
Prior | 2,008 | 1,577 | |
Revolving Loans | 0 | 0 | |
Total Loans | 5,294 | 5,175 | |
90 Days Past Due | Consumer—home equity revolving lines of credit | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 14 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 50 | 73 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,115 | 476 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 532 | 64 | |
Prior | 407 | 675 | |
Revolving Loans | 0 | 280 | |
Total Loans | 2,104 | 1,582 | |
90 Days Past Due | Consumer-other | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 10 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 18 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans | 0 | 0 | |
Total Loans | $ 18 | $ 10 |
LOANS RECEIVABLE AND THE ALLO_6
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Collateral Secured) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | $ 14,255 | $ 9,419 |
Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 9,222 | 4,575 |
Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 4,879 | 4,844 |
Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 154 | |
Small Balance Commercial Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 2,167 | 2,953 |
Small Balance Commercial Real Estate Loans [Member] | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 2,167 | 2,953 |
Small Balance Commercial Real Estate Loans [Member] | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Small Balance Commercial Real Estate Loans [Member] | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
Commercial Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 4,868 | 4,537 |
Commercial Business | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 316 | 0 |
Commercial Business | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 4,543 | 4,537 |
Commercial Business | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 9 | |
Small business scored | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 243 | 307 |
Small business scored | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Small business scored | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 243 | 307 |
Small business scored | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
Agricultural Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 3,480 | |
Agricultural Business | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 3,242 | |
Agricultural Business | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 93 | |
Agricultural Business | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 145 | |
One- to Four-Family Residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 2,679 | 1,622 |
One- to Four-Family Residential | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 2,679 | 1,622 |
One- to Four-Family Residential | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | $ 0 |
One- to Four-Family Residential | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
Consumer—home equity revolving lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 818 | |
Consumer—home equity revolving lines of credit | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 818 | |
Consumer—home equity revolving lines of credit | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
Consumer—home equity revolving lines of credit | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | $ 0 |
LOANS RECEIVABLE AND THE ALLO_7
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Age Analysis of Company's Past Due Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Financing Receivable, Past Due [Line Items] | ||
Total loans | $ 10,160,684 | $ 10,146,724 |
Non-accrual with no Allowance | 15,823 | 12,391 |
Nonaccrual loans | 25,462 | 21,706 |
Loans 90 days or more past due and still accruing | 1,310 | 1,287 |
Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 865,705 | 845,320 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 100 | 143 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 865,705 | 845,320 |
Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 1,520,261 | 1,589,975 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 1,520,261 | 1,589,975 |
Small Balance Commercial Real Estate Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 1,179,749 | 1,200,251 |
Non-accrual with no Allowance | 2,138 | 2,927 |
Nonaccrual loans | 2,715 | 3,540 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 1,179,749 | 1,200,251 |
Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 696,864 | 645,071 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 696,864 | 645,071 |
Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 191,051 | 184,876 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 191,051 | 184,876 |
Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 362,425 | 325,816 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 362,425 | 325,816 |
One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 584,655 | 647,329 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 584,655 | 647,329 |
Land and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 329,438 | 328,475 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 172 | 181 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 329,438 | 328,475 |
Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 1,266,047 | 1,283,407 |
Non-accrual with no Allowance | 6,751 | 6,998 |
Nonaccrual loans | 7,315 | 7,356 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 1,266,047 | 1,283,407 |
Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 960,650 | 947,092 |
Non-accrual with no Allowance | 239 | 303 |
Nonaccrual loans | 2,050 | 2,530 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 960,650 | 947,092 |
Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 272,707 | 295,077 |
Non-accrual with no Allowance | 4,074 | 594 |
Nonaccrual loans | 4,074 | 594 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 272,707 | 295,077 |
One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 1,252,104 | 1,173,112 |
Non-accrual with no Allowance | 2,621 | 1,569 |
Nonaccrual loans | 6,789 | 5,236 |
Loans 90 days or more past due and still accruing | 445 | 1,023 |
Financing Receivable, before Allowance for Credit Loss | 1,252,104 | 1,173,112 |
Consumer—home equity revolving lines of credit | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 564,334 | 566,291 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 2,243 | 2,124 |
Loans 90 days or more past due and still accruing | 852 | 254 |
Financing Receivable, before Allowance for Credit Loss | 564,334 | 566,291 |
Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 114,694 | 114,632 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 4 | 2 |
Loans 90 days or more past due and still accruing | 13 | 10 |
Financing Receivable, before Allowance for Credit Loss | 114,694 | 114,632 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 16,209 | 15,814 |
30 to 59 Days Past Due [Member] | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | Small Balance Commercial Real Estate Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,095 | 1,859 |
30 to 59 Days Past Due [Member] | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,756 | 900 |
30 to 59 Days Past Due [Member] | Land and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 682 | 921 |
30 to 59 Days Past Due [Member] | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 885 | 2,100 |
30 to 59 Days Past Due [Member] | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,943 | 1,479 |
30 to 59 Days Past Due [Member] | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,173 | 1,185 |
30 to 59 Days Past Due [Member] | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,889 | 5,287 |
30 to 59 Days Past Due [Member] | Consumer—home equity revolving lines of credit | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,500 | 1,824 |
30 to 59 Days Past Due [Member] | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 286 | 259 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,585 | 7,429 |
60 to 89 Days Past Due [Member] | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Small Balance Commercial Real Estate Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Land and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 132 | 4,145 |
60 to 89 Days Past Due [Member] | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 315 | 661 |
60 to 89 Days Past Due [Member] | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,648 | 0 |
60 to 89 Days Past Due [Member] | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,736 | 2,242 |
60 to 89 Days Past Due [Member] | Consumer—home equity revolving lines of credit | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 673 | 203 |
60 to 89 Days Past Due [Member] | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 81 | 178 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 16,457 | 9,128 |
90 Days or More Past Due [Member] | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
90 Days or More Past Due [Member] | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
90 Days or More Past Due [Member] | Small Balance Commercial Real Estate Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2 | 2 |
90 Days or More Past Due [Member] | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
90 Days or More Past Due [Member] | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
90 Days or More Past Due [Member] | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
90 Days or More Past Due [Member] | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
90 Days or More Past Due [Member] | Land and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 96 | 97 |
90 Days or More Past Due [Member] | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 6,492 | 649 |
90 Days or More Past Due [Member] | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,609 | 1,019 |
90 Days or More Past Due [Member] | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 842 | 594 |
90 Days or More Past Due [Member] | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,294 | 5,175 |
90 Days or More Past Due [Member] | Consumer—home equity revolving lines of credit | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,104 | 1,582 |
90 Days or More Past Due [Member] | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 18 | 10 |
Financial Asset, Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 37,251 | 32,371 |
Financial Asset, Past Due | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Past Due | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Past Due | Small Balance Commercial Real Estate Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,097 | 1,861 |
Financial Asset, Past Due | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Past Due | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Past Due | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
Financial Asset, Past Due | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,756 | 900 |
Financial Asset, Past Due | Land and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 778 | 1,018 |
Financial Asset, Past Due | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 7,509 | 6,894 |
Financial Asset, Past Due | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,867 | 3,159 |
Financial Asset, Past Due | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,663 | 1,779 |
Financial Asset, Past Due | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 11,919 | 12,704 |
Financial Asset, Past Due | Consumer—home equity revolving lines of credit | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,277 | 3,609 |
Financial Asset, Past Due | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 385 | 447 |
Financial Asset, Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 10,123,433 | 10,114,353 |
Financial Asset, Not Past Due | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 865,705 | 845,320 |
Financial Asset, Not Past Due | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,520,261 | 1,589,975 |
Financial Asset, Not Past Due | Small Balance Commercial Real Estate Loans [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,177,652 | 1,198,390 |
Financial Asset, Not Past Due | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 696,864 | 645,071 |
Financial Asset, Not Past Due | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 191,051 | 184,876 |
Financial Asset, Not Past Due | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 362,425 | 325,816 |
Financial Asset, Not Past Due | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 582,899 | 646,429 |
Financial Asset, Not Past Due | Land and land development | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 328,660 | 327,457 |
Financial Asset, Not Past Due | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,258,538 | 1,276,513 |
Financial Asset, Not Past Due | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 956,783 | 943,933 |
Financial Asset, Not Past Due | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 268,044 | 293,298 |
Financial Asset, Not Past Due | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,240,185 | 1,160,408 |
Financial Asset, Not Past Due | Consumer—home equity revolving lines of credit | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 560,057 | 562,682 |
Financial Asset, Not Past Due | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 114,309 | $ 114,185 |
LOANS RECEIVABLE AND THE ALLO_8
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Allowance for Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | $ 141,465 | $ 132,099 |
Recapture of provision for credit losses | 774 | (7,376) |
Recoveries | 698 | 994 |
Charge-offs | (1,480) | (246) |
Allowance for loan losses, Ending balance | 141,457 | 125,471 |
Commercial Real Estate | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 44,086 | 52,995 |
Recapture of provision for credit losses | (1,295) | (5,816) |
Recoveries | 184 | 87 |
Charge-offs | 0 | (2) |
Allowance for loan losses, Ending balance | 42,975 | 47,264 |
Multifamily Real Estate | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 7,734 | 7,043 |
Recapture of provision for credit losses | 741 | 140 |
Recoveries | 0 | 0 |
Charge-offs | 0 | 0 |
Allowance for loan losses, Ending balance | 8,475 | 7,183 |
Construction and Land | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 29,171 | 27,294 |
Recapture of provision for credit losses | (738) | (994) |
Recoveries | 0 | 384 |
Charge-offs | 0 | (5) |
Allowance for loan losses, Ending balance | 28,433 | 26,679 |
Commercial Business | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 33,299 | 26,421 |
Recapture of provision for credit losses | 1,475 | 167 |
Recoveries | 119 | 149 |
Charge-offs | (615) | (82) |
Allowance for loan losses, Ending balance | 33,735 | 26,655 |
Agricultural Business | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 3,475 | 3,190 |
Recapture of provision for credit losses | (490) | (722) |
Recoveries | 109 | 118 |
Charge-offs | 0 | 0 |
Allowance for loan losses, Ending balance | 3,094 | 2,586 |
One- to Four-Family Residential | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 14,729 | 8,205 |
Recapture of provision for credit losses | 920 | (136) |
Recoveries | 117 | 40 |
Charge-offs | (30) | 0 |
Allowance for loan losses, Ending balance | 15,736 | 8,109 |
Consumer-other | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 8,971 | 6,951 |
Recapture of provision for credit losses | 161 | (15) |
Recoveries | 169 | 216 |
Charge-offs | (264) | (157) |
Allowance for loan losses, Ending balance | 9,009 | $ 6,995 |
Commercial Loan | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Charge-offs | (1,158) | |
Consumer Loan, All Consumer Loan Types | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Charge-offs | $ (292) |
GOODWILL, OTHER INTANGIBLE AS_3
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Finite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Goodwill [Roll Forward] | ||
Goodwill, beginning of period | $ 373,121 | $ 373,121 |
Goodwill, end of period | 373,121 | 373,121 |
Finite-lived Intangible Assets [Roll Forward] | ||
Goodwill and other intangibles, net, beginning of period | 382,561 | 387,976 |
Amortization | (1,050) | (5,279) |
Goodwill and other intangibles, net, end of period | 381,511 | 382,561 |
Core Deposit Intangibles [Member] | ||
Finite-lived Intangible Assets [Roll Forward] | ||
Finite lived assets Balance, beginning of period | 9,440 | 14,855 |
Amortization | (1,050) | (5,279) |
finite-lived intangible assets, other changes | 136 | |
Finite lived assets Balance, end of period | $ 8,390 | $ 9,440 |
GOODWILL, OTHER INTANGIBLE AS_4
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Estimated Annual Amortization Expense) (Details) - Core Deposit Intangibles [Member] - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year | $ 2,706 | ||
Finite-Lived Intangible Asset, Expected Amortization, Year One | 2,626 | ||
Finite-Lived Intangible Asset, Expected Amortization, Year Two | 1,567 | ||
Finite-Lived Intangible Asset, Expected Amortization, Year Three | 904 | ||
Finite-Lived Intangible Asset, Expected Amortization, Year Four | 426 | ||
Thereafter | 161 | ||
Finite lived assets, net | $ 8,390 | $ 9,440 | $ 14,855 |
GOODWILL, OTHER INTANGIBLE AS_5
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Mortgage Servicing Rights) (Details) - Servicing Contracts [Member] - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | ||
Morgage Servicing Rights at Amortized Value [Line Items] | ||||
Loans Serviced For Others | $ 2,740,000 | $ 2,770,000 | ||
Custodial Accounts | 22,600 | $ 11,200 | ||
Servicing Asset at Amortized Value, Balance [Roll Forward] | ||||
Balance, net of valuation allowance, beginning of the period | 16,166 | $ 17,206 | ||
Additions—amounts capitalized | 136 | 1,953 | ||
Additions—through purchase | 39 | 62 | ||
Amortization (1) | [1] | (847) | (1,231) | |
Servicing Asset at Fair Value, Other Changes in Fair Value | (119) | (18) | ||
Balance, net of valuation allowance, end of the period | [2] | 15,613 | $ 18,008 | |
Valuation allowance, end of period | $ 0 | |||
[1]Amortization of mortgage servicing rights is recorded as a reduction of loan servicing income within mortgage banking operations and any unamortized balance is fully amortized if the loan repays in full.[2]There was no valuation allowance on mortgage servicing rights as of both March 31, 2023 and 2022. (3) Fair value adjustments relate to SBA servicing rights. These adjustments are estimated based on an independent dealer analysis by discounting estimated net future cash flows from servicing SBA loans. |
DEPOSITS (Deposit Liabilities)
DEPOSITS (Deposit Liabilities) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Deposits: | ||
Non-interest-bearing accounts | $ 5,764,009 | $ 6,176,998 |
Interest-bearing checking | 1,794,477 | 1,811,153 |
Regular savings accounts | 2,502,084 | 2,710,090 |
Money market accounts | 2,143,700 | 2,198,288 |
Total interest-bearing transaction and saving accounts | 6,440,261 | 6,719,531 |
Certificates of Deposit Greater Than or Equal to $250,000 | 314,506 | 178,324 |
Certificates of Deposit Less Than $250,000 | 635,426 | 545,206 |
Total certificates of deposit | 949,932 | 723,530 |
Total deposits | 13,154,202 | 13,620,059 |
Included in total deposits: | ||
Public fund transaction and savings accounts | 361,837 | 392,859 |
Public fund interest-bearing certificates | 26,857 | 26,810 |
Total public deposits | $ 388,694 | $ 419,669 |
DEPOSITS DEPOSITS (Maturities a
DEPOSITS DEPOSITS (Maturities and Weighted Average Interest Rates of Certificates of Deposit) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Maturities of Time Deposits [Abstract] | ||
Maturing in one year or less | $ 767,151 | |
Maturing after one year through two years | 143,143 | |
Maturing after two years through three years | 26,638 | |
Maturing after three years through four years | 7,165 | |
Maturing after four years through five years | 4,768 | |
Maturing after five years | 1,067 | |
Total certificates of deposit | $ 949,932 | $ 723,530 |
Weighted Average Rate [Abstract] | ||
Maturing in one year or less | 1.99% | |
Maturing after one year through two years | 2.21% | |
Maturing after two years through three years | 0.56% | |
Maturing after three years through four years | 0.37% | |
Maturing after four years through five years | 0.45% | |
Maturing after five years | 0.82% | |
Total certificates of deposit | 1.97% |
FAIR VALUE OF FINANCIAL INSTR_3
FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value By Balance Sheet Location) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Assets: | ||
Securities—trading | $ 28,591 | $ 28,694 |
Debt Securities, Available-for-Sale | 2,653,860 | 2,789,031 |
Securities—held-to-maturity | 957,062 | 942,180 |
Securities purchased under agreements to resell | 150,000 | 300,000 |
Liabilities: | ||
FHLB advances at fair value | 170,000 | 50,000 |
Subordinated notes, net | 99,046 | 98,947 |
Reported Value Measurement [Member] | ||
Assets: | ||
Cash and cash equivalents | 242,992 | 243,062 |
Securities—trading | 28,591 | 28,694 |
Debt Securities, Available-for-Sale | 2,653,860 | 2,789,031 |
Securities purchased under agreements to resell | 150,000 | 300,000 |
Loans receivable held for sale | 49,016 | 56,857 |
Loans receivable | 10,019,227 | 10,005,259 |
Equity securities | 624 | 553 |
FHLB stock | 16,800 | 12,000 |
Bank-owned life insurance | 299,754 | 297,565 |
Mortgage servicing rights | 14,659 | 15,331 |
SBA servicing asset | 954 | 835 |
Investments in limited partnerships | 12,394 | 12,427 |
Liabilities: | ||
Demand, interest checking and money market accounts | 9,702,186 | 10,186,439 |
Regular savings | 2,502,084 | 2,710,090 |
Certificates of deposit | 949,932 | 723,530 |
FHLB advances at fair value | 170,000 | 50,000 |
Other borrowings | 214,564 | 232,799 |
Junior subordinated debentures at fair value | 74,703 | 74,857 |
Estimate of Fair Value Measurement [Member] | ||
Assets: | ||
Cash and cash equivalents | 242,992 | 243,062 |
Securities—trading | 28,591 | 28,694 |
Debt Securities, Available-for-Sale | 2,653,860 | 2,789,031 |
Securities purchased under agreements to resell | 150,000 | 300,000 |
Loans receivable held for sale | 49,053 | 56,948 |
Loans receivable | 9,724,399 | 9,810,965 |
Equity securities | 624 | 553 |
FHLB stock | 16,800 | 12,000 |
Bank-owned life insurance | 299,754 | 297,565 |
Mortgage servicing rights | 33,555 | 35,148 |
SBA servicing asset | 954 | 835 |
Investments in limited partnerships | 12,394 | 12,427 |
Liabilities: | ||
Demand, interest checking and money market accounts | 9,702,186 | 10,186,439 |
Regular savings | 2,502,084 | 2,710,090 |
Certificates of deposit | 929,724 | 702,581 |
FHLB advances at fair value | 170,000 | 50,000 |
Other borrowings | 214,564 | 232,799 |
Subordinated notes, net | 95,470 | 96,718 |
Junior subordinated debentures at fair value | 74,703 | 74,857 |
Interest rate swaps [Member] | Reported Value Measurement [Member] | ||
Assets: | ||
Derivatives: | 15,342 | 19,339 |
Liabilities: | ||
Derivatives: | 28,858 | 37,150 |
Interest rate swaps [Member] | Estimate of Fair Value Measurement [Member] | ||
Assets: | ||
Derivatives: | 15,342 | 19,339 |
Liabilities: | ||
Derivatives: | 28,858 | 37,150 |
Interest Rate Forward Sales Commitments [Member] | Reported Value Measurement [Member] | ||
Assets: | ||
Derivatives: | 534 | 142 |
Liabilities: | ||
Derivatives: | 136 | 118 |
Interest Rate Forward Sales Commitments [Member] | Estimate of Fair Value Measurement [Member] | ||
Assets: | ||
Derivatives: | 534 | 142 |
Liabilities: | ||
Derivatives: | 136 | 118 |
Loan Participations and Assignments | Reported Value Measurement [Member] | ||
Liabilities: | ||
Derivatives: | 85 | 67 |
Loan Participations and Assignments | Estimate of Fair Value Measurement [Member] | ||
Liabilities: | ||
Derivatives: | 85 | 67 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Assets: | ||
Securities—held-to-maturity | 1,102,122 | 1,109,319 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Assets: | ||
Securities—held-to-maturity | 949,214 | 933,513 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Assets: | ||
Securities—held-to-maturity | 7,837 | 8,648 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Assets: | ||
Securities—held-to-maturity | $ 7,848 | $ 8,667 |
FAIR VALUE OF FINANCIAL INSTR_4
FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities—trading | $ 28,591 | $ 28,694 |
Debt Securities, Available-for-Sale | 2,653,860 | 2,789,031 |
Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 48,439 | 51,779 |
Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 2,653,860 | 2,789,031 |
Total assets | 2,717,784 | 2,853,326 |
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 74,703 | 74,857 |
Total liabilities | 103,782 | 112,192 |
Recurring [Member] | Interest rate swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 15,342 | 19,339 |
Derivative liabilities | 28,858 | 37,150 |
Recurring [Member] | Interest rate lock and forward sale commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 534 | 142 |
Derivative liabilities | 136 | 118 |
Recurring [Member] | Loan Participations and Assignments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 85 | 67 |
Recurring [Member] | Trust Preferred Securities Subject to Mandatory Redemption | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities—trading | 28,591 | 28,694 |
Recurring [Member] | U.S. Government and agency obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 52,588 | 55,108 |
Recurring [Member] | Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 173,721 | 261,209 |
Recurring [Member] | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 117,404 | 121,853 |
Recurring [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 2,092,209 | 2,139,336 |
Recurring [Member] | Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 217,938 | 211,525 |
Recurring [Member] | Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 5,485 | 2,305 |
Recurring [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 624 | 553 |
Recurring [Member] | SBA Servicing Asset | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
SBA servicing asset | 954 | 835 |
Recurring [Member] | Investment in Limited Partnerships | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments in limited partnerships | 12,394 | 12,427 |
Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Total assets | 624 | 553 |
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 0 | 0 |
Total liabilities | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Interest rate swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Interest rate lock and forward sale commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Loan Participations and Assignments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Trust Preferred Securities Subject to Mandatory Redemption | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities—trading | 0 | 0 |
Recurring [Member] | Level 1 [Member] | U.S. Government and agency obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 624 | 553 |
Recurring [Member] | Level 1 [Member] | SBA Servicing Asset | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
SBA servicing asset | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Investment in Limited Partnerships | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments in limited partnerships | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 2,653,860 | 2,789,031 |
Total assets | 2,674,736 | 2,810,736 |
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 0 | 0 |
Total liabilities | 29,074 | 37,293 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest rate swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 15,342 | 19,339 |
Derivative liabilities | 28,858 | 37,150 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest rate lock and forward sale commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 49 | 61 |
Derivative liabilities | 131 | 76 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Loan Participations and Assignments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 85 | 67 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Trust Preferred Securities Subject to Mandatory Redemption | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities—trading | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government and agency obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 52,588 | 55,108 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 173,721 | 261,209 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 117,404 | 121,853 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 2,092,209 | 2,139,336 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 217,938 | 211,525 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 5,485 | 2,305 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | SBA Servicing Asset | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
SBA servicing asset | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Investment in Limited Partnerships | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments in limited partnerships | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Residential Mortgage | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-For-Sale, Fair Value Disclosure, Unpaid Principal Balance | 5,300 | 2,200 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Total assets | 42,424 | 42,037 |
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 74,703 | 74,857 |
Total liabilities | 74,708 | 74,899 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate lock and forward sale commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 485 | |
Derivative liabilities | 5 | 42 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Loan Participations and Assignments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Trust Preferred Securities Subject to Mandatory Redemption | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities—trading | 28,591 | 28,694 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | U.S. Government and agency obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-Sale | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | SBA Servicing Asset | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
SBA servicing asset | 954 | 835 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Investment in Limited Partnerships | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments in limited partnerships | $ 12,394 | $ 12,427 |
FAIR VALUE OF FINANCIAL INSTR_5
FAIR VALUE OF FINANCIAL INSTRUMENTS (Valuation Technique) (Details) - Weighted Average [Member] - Fair Value, Inputs, Level 3 [Member] | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Junior Subordinated Debt [Member] | Discounted cash flows [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Fair Value Input, Discount Rate | 8.79% | 8.27% |
Corporate Bonds (TPS securities) [Member] | Discounted cash flows [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Fair Value Input, Discount Rate | 8.79% | 8.27% |
Real Estate Owned [Member] | discount to appraised value [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
fair value inputs, discount to appraised value | 68.35% | 68.35% |
Interest Rate Lock Commitments [Member] | Valuation, Pricing Model [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Fair Value Input, Pull-Through Rate | 86.60% | 78.65% |
SBA Servicing Rights | Discounted cash flows [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Fair Value Input, Constant Prepayment Rate | 14.22% | 14.10% |
FAIR VALUE OF FINANCIAL INSTR_6
FAIR VALUE OF FINANCIAL INSTRUMENTS (Unobservable Inputs Reconciliation) (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest Rate Lock Commitments [Member] | Recurring [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Derivative assets | $ 81 | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | $ 441 | $ (1,533) | ||
Derivative Asset, Net | (480) | (66) | 39 | $ 1,467 |
Junior Subordinated Debt [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) | (154) | 1,213 | ||
Junior Subordinated Debt [Member] | Recurring [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | 0 | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 74,703 | 70,510 | $ 74,857 | $ 119,815 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) | 0 | 0 | ||
Fair Value, Measurement with Unobservable Inputs, Reconciliation, Recurring Bais, Redemptions | (50,518) | |||
TPS Securities [Member] | Recurring [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 28,694 | 26,981 | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | (103) | 373 | ||
Ending balance | 28,591 | 27,354 | ||
Investment in Limited Partnerships | Recurring [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 12,427 | 10,257 | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | (520) | (217) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) | 487 | 942 | ||
Ending balance | 12,394 | 10,982 | ||
SBA Servicing Rights | Recurring [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 835 | 1,161 | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | 119 | 1 | ||
Ending balance | $ 954 | $ 1,162 |
FAIR VALUE OF FINANCIAL INSTR_7
FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets Measured on Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 0 | $ (1,883) |
REO | 340 | 340 |
Loans receivable held for sale | 42,954 | 49,474 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
REO | 0 | 0 |
Loans receivable held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
REO | 0 | 0 |
Loans receivable held for sale | 42,954 | 49,474 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | (1,883) |
REO | 340 | 340 |
Loans receivable held for sale | $ 0 | $ 0 |
FAIR VALUE OF FINANCIAL INSTR_8
FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value, Measured on Nonrecurring Basis, Gains (Losses) From Fair Value Adjustments) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Schedule of Fair Value, Measured on Nonrecurring Basis, Gains (Losses) From Fair Value Adjustments [Line Items] | ||
Fair Value Disclosure, Gain (Loss) from Nonrecurring Fair Value Adjustments | $ 295 | $ (603) |
Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Schedule of Fair Value, Measured on Nonrecurring Basis, Gains (Losses) From Fair Value Adjustments [Line Items] | ||
Real Estate Owned, Fair Value Disclosure, Gain (Loss) from Nonrecurring Fair Value Adjustments | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Schedule of Fair Value, Measured on Nonrecurring Basis, Gains (Losses) From Fair Value Adjustments [Line Items] | ||
Loans Receivable, Fair Value Disclosure, Gain (Loss) From Nonrecurring Fair Value Adjustments | 0 | 0 |
loans held for sale | Fair Value, Inputs, Level 2 [Member] | ||
Schedule of Fair Value, Measured on Nonrecurring Basis, Gains (Losses) From Fair Value Adjustments [Line Items] | ||
Loans Held for Sale, Fair Value Disclosure, Gain (Loss) from Nonrecurring Fair Value Adjustments | $ 295 | $ (603) |
INCOME TAXES AND DEFERRED TAX_3
INCOME TAXES AND DEFERRED TAXES INCOME TAXES AND DEFERRED TAXES (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |||
Tax credit investments | $ 79,708 | $ 71,430 | |
Unfunded commitments—tax credit investments | 52,346 | $ 44,563 | |
Tax credits and other tax benefits recognized | 2,066 | $ 1,554 | |
Tax credit amortization expense included in provision for income taxes | 1,722 | $ 1,308 | |
Unrecognized Tax Benefits | $ 1,600 |
CALCULATION OF WEIGHTED AVERA_3
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |||||
Net Income (Loss) Attributable to Parent | $ 55,555 | $ 54,380 | $ 49,070 | $ 47,965 | $ 43,963 |
Basic weighted average shares outstanding | 34,239,533 | 34,300,742 | |||
Dilutive effect of unvested restricted stock | 218,336 | 297,694 | |||
Diluted weighted shares outstanding | 34,457,869 | 34,598,436 | |||
Earnings per common share | |||||
Basic | $ 1.62 | $ 1.28 | |||
Diluted | $ 1.61 | $ 1.27 |
STOCK-BASED COMPENSATION PLANS
STOCK-BASED COMPENSATION PLANS (Details) - USD ($) $ in Millions | 3 Months Ended | 59 Months Ended | 107 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2023 | Mar. 31, 2023 | Apr. 24, 2018 | Apr. 22, 2014 | |
Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Expense | $ 2.1 | ||||
Compensation Cost Not yet Recognized | $ 8.7 | $ 8.7 | $ 8.7 | ||
Compensation Cost Not yet Recognized, Period for Recognition | 25 months | ||||
2014 Omnibus Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of Shares Authorized | 900,000 | ||||
2014 Omnibus Incentive Plan [Member] | Restricted Stock Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 272,495 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,552 | 1,552 | 1,552 | ||
2014 Omnibus Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 431,069 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 23,431 | 23,431 | 23,431 | ||
2018 Omnibus Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of Shares Authorized | 900,000 | ||||
2018 Omnibus Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 566,900 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 206,186 | 206,186 | 206,186 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Fair value, off balance sheet risks, limited partnerships, commitment) (Details) - Limited Partner - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Schedule of Fair Value, Off-Balance Sheet Risks, Limited Partnerships, Commitment) [Line Items] | ||
Fair Value Disclosure, Off Balance Sheet Risk, Amount Funded, Commitment | $ 10,759 | $ 10,272 |
Fair Value Disclosure, Off Balance Sheet Risk, Unfunded Amount, Commitment | $ 11,741 | $ 12,228 |
COMMITMENTS AND CONTINGENCIES_3
COMMITMENTS AND CONTINGENCIES (Commitments Without Recorded Liability) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Reserve for Unfunded Loan Commitments | $ 13,400,000 | $ 14,700,000 | |
Mortgage loan applications, day interest rate is locked | 45 days | ||
Minimum [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Mortgage loan applications, day interest rate is locked | 30 days | ||
Maximum [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Mortgage loan applications, day interest rate is locked | 60 days | ||
Commitments to Extend Credit [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | $ 3,946,366,000 | 4,031,954,000 | |
Financial Standby Letter of Credit [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 39,312,000 | 26,119,000 | |
Loan Origination Commitments [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 74,719,000 | 53,266,000 | |
Risk Participation Agreement [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 48,173,000 | 48,566,000 | |
Loans Held for Sale Origination Commitments [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 26,810,000 | 10,525,000 | |
Commitments to Sell Loans Secured by one to four Residential Properties [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 3,842,000 | 12,568,000 | |
Counterparty default losses on forward contracts | 0 | $ 0 | |
Commitments to Sell Mortgage Backed Securities [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | $ 24,332,000 | $ 7,000,000 |
DERIVATIVES AND HEDGING (Deriva
DERIVATIVES AND HEDGING (Derivatives Designated as Hedging, by Balance Sheet Location) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | $ 28,821 | $ 37,119 |
Liability Derivatives, Fair Value | 50,605 | 63,634 |
Derivative Assets, Amounts offsett in the Statement of Financial Condition | (13,479) | (17,780) |
Derivative Asset, Subject to Master Netting Arrangement, Collateral, Obligation to Return Cash, Offset Against Derivative Asset | 0 | 0 |
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset | $ (8,268) | $ (8,705) |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Accrued expenses and other liabilities | Accrued expenses and other liabilities |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | $ 463,857 | $ 474,502 |
Liability Derivatives, Notional/Contract Amount | 507,447 | 503,381 |
Not Designated as Hedging Instrument [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 15,876 | 19,481 |
Not Designated as Hedging Instrument [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 29,079 | 37,335 |
Interest rate swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 28,821 | 37,119 |
Liability Derivatives, Fair Value | 50,605 | 63,634 |
Derivative Assets, Amounts offsett in the Statement of Financial Condition | (13,479) | (17,780) |
Interest rate swaps [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 0 | 0 |
Liability Derivatives, Notional/Contract Amount | 400,000 | 400,000 |
Interest rate swaps [Member] | Designated as Hedging Instrument [Member] | Other assets [Member] | Cash Flow Hedging | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 0 | 0 |
Interest rate swaps [Member] | Designated as Hedging Instrument [Member] | Other liabilities [Member] | Cash Flow Hedging | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 21,747 | 26,485 |
Interest rate swaps [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 429,876 | 440,731 |
Liability Derivatives, Notional/Contract Amount | 429,876 | 440,731 |
Interest rate swaps [Member] | Not Designated as Hedging Instrument [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 28,821 | 37,119 |
Interest rate swaps [Member] | Not Designated as Hedging Instrument [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 28,858 | 37,150 |
Loan Participations and Assignments | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 1,225 | 1,283 |
Liability Derivatives, Notional/Contract Amount | 46,948 | 47,283 |
Loan Participations and Assignments | Not Designated as Hedging Instrument [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 0 | 0 |
Loan Participations and Assignments | Not Designated as Hedging Instrument [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 85 | 67 |
Mortgage loan commitments [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 31,296 | 15,920 |
Liability Derivatives, Notional/Contract Amount | 0 | 12,367 |
Mortgage loan commitments [Member] | Not Designated as Hedging Instrument [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 485 | 81 |
Mortgage loan commitments [Member] | Not Designated as Hedging Instrument [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 0 | 42 |
Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 1,460 | 16,568 |
Liability Derivatives, Notional/Contract Amount | 30,623 | 3,000 |
Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 49 | 61 |
Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | $ 136 | $ 76 |
DERIVATIVES AND HEDGING (effect
DERIVATIVES AND HEDGING (effect of cash flow hedge accounting on AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash Flow Hedging Impact on AOCI [Line Items] | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax | $ 4,738 | $ (14,775) |
Interest rate swaps [Member] | Cash Flow Hedging | Designated as Hedging Instrument [Member] | ||
Cash Flow Hedging Impact on AOCI [Line Items] | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax | 1,125 | (14,025) |
Other Comprehensive Income (Loss), Derivative, Included Component, Increase (Decrease), before Adjustments, after | 1,125 | (14,025) |
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), after Adjustments, before Tax | 0 | 0 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax | (3,613) | 751 |
Other Comprehensive Income (Loss), Derivative, Included Component, Increase (Decrease), Adjustments, after Tax | (3,613) | 751 |
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, after Tax | $ 0 | $ 0 |
DERIVATIVES AND HEDGING (Gain (
DERIVATIVES AND HEDGING (Gain (Loss) On Derivatives Not Designated in Hedging Relationship) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) recognized in income, net | $ 298 | $ 680 |
Mortgage loan commitments [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) recognized in income, net | 440 | (1,532) |
Forward Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) recognized in income, net | $ (142) | $ 2,212 |
DERIVATIVES AND HEDGING (Narrat
DERIVATIVES AND HEDGING (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 |
Offsetting Assets and Liabilities [Line Items] | |||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 15,000 | ||
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax | 16,500 | $ 20,100 | |
Derivative net liability position | 0 | ||
Collateral posted | 20,700 | 22,200 | |
Derivative Liability, Collateral Posted, Restricted Cash | 14,300 | $ 15,900 | |
Interest rate swaps [Member] | |||
Offsetting Assets and Liabilities [Line Items] | |||
Variation Margin Adjustment, Derivative Liability | $ 8,300 | $ 8,700 |
DERIVATIVES AND HEDGING (Deri_2
DERIVATIVES AND HEDGING (Derivative Offsetting) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Offsetting Derivative Assets [Abstract] | ||
Derivative Assets, Gross Amounts Recognized | $ 28,821 | $ 37,119 |
Derivative Assets, Amounts offsett in the Statement of Financial Condition | (13,479) | (17,780) |
Derivative Assets, Net Amounts in the Statement of Financial Condition | 15,342 | 19,339 |
Derivative Assets, Netting Adjustment Per Applicable Master Netting Agreements | 0 | 0 |
Derivative Assets, Fair Value of Financial Collateral in the Statement of Financial Condiation | 0 | 0 |
Derivative Assets, Net Amount | 15,342 | 19,339 |
Offsetting Derivative Liabilities [Abstract] | ||
Derivative Liabilities, Gross Amounts Recognized | 50,605 | 63,634 |
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | (21,747) | (26,484) |
Derivative Liabilities, Net Amounts of the Statement of Financial Condition | 28,858 | 37,150 |
Derivative Liabilities, Net Adjustment Per Applicable Master Netting Agreements | 0 | 0 |
Derivative Liabilities, Fair Value of Financial Collateral in the Statement of Financial Condition | (13,435) | (14,972) |
Derivative Liabilities, Net Amount | 15,423 | 22,178 |
Interest rate swaps [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Derivative Assets, Gross Amounts Recognized | 28,821 | 37,119 |
Derivative Assets, Amounts offsett in the Statement of Financial Condition | (13,479) | (17,780) |
Derivative Assets, Net Amounts in the Statement of Financial Condition | 15,342 | 19,339 |
Derivative Assets, Netting Adjustment Per Applicable Master Netting Agreements | 0 | 0 |
Derivative Assets, Fair Value of Financial Collateral in the Statement of Financial Condiation | 0 | 0 |
Derivative Assets, Net Amount | 15,342 | 19,339 |
Offsetting Derivative Liabilities [Abstract] | ||
Derivative Liabilities, Gross Amounts Recognized | 50,605 | 63,634 |
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | (21,747) | (26,484) |
Derivative Liabilities, Net Amounts of the Statement of Financial Condition | 28,858 | 37,150 |
Derivative Liabilities, Net Adjustment Per Applicable Master Netting Agreements | 0 | 0 |
Derivative Liabilities, Fair Value of Financial Collateral in the Statement of Financial Condition | (13,435) | (14,972) |
Derivative Liabilities, Net Amount | $ 15,423 | $ 22,178 |