Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Stockholders' equity | ||
Common stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock issued (in shares) | 53,018,448 | 52,590,015 |
Treasure stock held (in shares) | 4,230,752 | 2,139,970 |
Condensed Consolidated Statements of Income - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||||
---|---|---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|||
Interest Income | ||||||
Loans, including fees | $ 59,211 | $ 42,664 | $ 149,266 | $ 130,268 | ||
Available-for-sale securities - taxable | 1,119 | 803 | 3,250 | 2,423 | ||
Available-for-sale securities - tax-exempt | 3,905 | 3,562 | 11,442 | 10,410 | ||
Deposits with financial institutions | 1,193 | 121 | 1,714 | 359 | ||
Dividends on bank stocks | 122 | 161 | 478 | 488 | ||
Total interest income | 65,550 | 47,311 | 166,150 | 143,948 | ||
Interest Expense | ||||||
Deposits | 14,909 | 4,211 | 23,152 | 14,789 | ||
Fed funds purchased and repurchase agreements | 9 | 0 | 83 | 3 | ||
Federal Home Loan Bank Advances | 898 | 1,275 | 3,302 | 3,838 | ||
Other borrowings | 39 | 24 | 94 | 72 | ||
Total interest expense | 15,855 | 5,510 | 26,631 | 18,702 | ||
Net Interest Income | 49,695 | 41,801 | 139,519 | 125,246 | ||
Provision for credit losses | [1] | 3,334 | (10,000) | 4,844 | 1,000 | |
Net Interest Income after Provision for Credit Losses | [1] | 46,361 | 51,801 | 134,675 | 124,246 | |
Non-Interest Income | ||||||
Realized (losses) gains on available-for-sale securities | (4) | 1,046 | (43) | 1,043 | ||
Unrealized gains (losses) on equity securities , net | (87) | (6,210) | (261) | (6,243) | ||
Income from bank-owned life insurance | 405 | 427 | 1,200 | 3,088 | ||
Swap fees and credit valuation adjustments, net | (7) | 31 | 123 | 156 | ||
Other non-interest income | 581 | 670 | 1,870 | 1,921 | ||
Total non-interest income | 3,780 | (1,105) | 12,922 | 8,864 | ||
Non-Interest Expense | ||||||
Salaries and employee benefits | 18,252 | 15,399 | 53,288 | 44,612 | ||
Occupancy | 2,736 | 2,416 | 7,851 | 7,307 | ||
Professional fees | 580 | 618 | 2,453 | 2,538 | ||
Deposit insurance premiums | 903 | 927 | 2,355 | 2,995 | ||
Data processing | 877 | 700 | 2,849 | 2,136 | ||
Advertising | 796 | 596 | 2,247 | 1,334 | ||
Software and communication | 1,222 | 999 | 3,689 | 3,098 | ||
Foreclosed assets, net | 9 | (35) | (30) | 680 | ||
Other non-interest expense | 3,076 | 2,416 | 10,617 | 7,967 | ||
Total non-interest expense | 28,451 | 24,036 | 85,319 | 72,667 | ||
Net Income Before Taxes | 21,690 | 26,660 | 62,278 | 60,443 | ||
Income tax expense | 4,410 | 5,660 | 12,625 | 11,831 | ||
Net Income | $ 17,280 | $ 21,000 | $ 49,653 | $ 48,612 | ||
Basic Earnings Per Share (in dollars per share) | $ 0.35 | $ 0.41 | $ 1.00 | $ 0.95 | ||
Diluted Earnings Per Share (in dollars per share) | $ 0.35 | $ 0.41 | $ 0.99 | $ 0.93 | ||
Service charges and fees on customer accounts | ||||||
Non-Interest Income | ||||||
Non-interest income | $ 1,566 | $ 1,196 | $ 4,520 | $ 3,330 | ||
ATM and credit card interchange income | ||||||
Non-Interest Income | ||||||
Non-interest income | $ 1,326 | $ 1,735 | $ 5,513 | $ 5,569 | ||
|
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
Statement of Comprehensive Income [Abstract] | ||||
Net Income | $ 17,280 | $ 21,000 | $ 49,653 | $ 48,612 |
Other Comprehensive Income (Loss) | ||||
Unrealized loss on available-for-sale securities | (39,299) | (7,989) | (137,282) | (11,532) |
Less: income tax expense (benefit) | (9,621) | (1,956) | (33,607) | (2,823) |
Unrealized loss on available-for-sale securities | (29,678) | (6,033) | (103,675) | (8,709) |
Reclassification adjustment for realized gains (losses) included in income | (4) | 1,046 | (43) | 1,043 |
Less: income tax expense (benefit) | (1) | 256 | (11) | 255 |
Less: reclassification adjustment for realized gain (loss) included in income, net of income tax | (3) | 790 | (32) | 788 |
Unrealized loss on cash flow hedges | (7,076) | 0 | (3,036) | 0 |
Less: income tax expense | (1,731) | 0 | (741) | 0 |
Unrealized loss on cash flow hedges, net of income tax | (5,345) | 0 | (2,295) | 0 |
Other comprehensive income (loss) | (35,020) | (6,823) | (105,938) | (9,497) |
Comprehensive Income (Loss) | $ (17,740) | $ 14,177 | $ (56,285) | $ 39,115 |
Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands |
Total |
Cumulative Effect, Period of Adoption, Adjustment |
Common Stock |
Common Stock
Cumulative Effect, Period of Adoption, Adjustment
|
Treasury Stock |
Treasury Stock
Cumulative Effect, Period of Adoption, Adjustment
|
Additional Paid-in Capital |
Additional Paid-in Capital
Cumulative Effect, Period of Adoption, Adjustment
|
Retained Earnings |
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
|
Accumulated Other Comprehensive Income (Loss) |
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjustment
|
||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning balance (in shares) at Dec. 31, 2020 | 51,679,516 | |||||||||||||
Beginning balance at Dec. 31, 2020 | $ 624,428 | $ 523 | $ (6,061) | $ 522,911 | $ 77,652 | $ 29,403 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Net Income | 48,612 | 0 | 0 | 0 | 48,612 | 0 | ||||||||
Other comprehensive loss | (9,497) | $ 0 | 0 | 0 | 0 | (9,497) | ||||||||
Issuance of shares from equity-based awards (in shares) | 287,375 | |||||||||||||
Issuance of shares from equity-based awards | (605) | $ 3 | 0 | (608) | 0 | 0 | ||||||||
Open market common share repurchases | (13,939) | $ 0 | (13,939) | 0 | 0 | 0 | ||||||||
Open market common share repurchases (in shares) | (964,193) | |||||||||||||
Employee receivables from sale of stock | 35 | $ 0 | 0 | 0 | 35 | 0 | ||||||||
Stock-based compensation | 3,373 | $ 0 | 0 | 3,373 | 0 | 0 | ||||||||
Ending balance (in shares) at Sep. 30, 2021 | 51,002,698 | |||||||||||||
Ending balance at Sep. 30, 2021 | 652,407 | $ 526 | (20,000) | 525,676 | 126,299 | 19,906 | ||||||||
Beginning balance (in shares) at Jun. 30, 2021 | 50,958,680 | |||||||||||||
Beginning balance at Jun. 30, 2021 | 637,190 | $ 525 | (20,000) | 524,637 | 105,299 | 26,729 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Net Income | 21,000 | 0 | 0 | 0 | 21,000 | 0 | ||||||||
Other comprehensive loss | (6,823) | $ 0 | 0 | 0 | 0 | (6,823) | ||||||||
Issuance of shares from equity-based awards (in shares) | 44,018 | |||||||||||||
Issuance of shares from equity-based awards | (109) | $ 1 | 0 | (110) | 0 | 0 | ||||||||
Stock-based compensation | 1,149 | $ 0 | 0 | 1,149 | 0 | 0 | ||||||||
Ending balance (in shares) at Sep. 30, 2021 | 51,002,698 | |||||||||||||
Ending balance at Sep. 30, 2021 | $ 652,407 | $ 526 | (20,000) | 525,676 | 126,299 | 19,906 | ||||||||
Beginning balance (in shares) at Dec. 31, 2021 | 52,590,015 | 50,450,045 | ||||||||||||
Beginning balance at Dec. 31, 2021 | $ 667,573 | $ 526 | (28,347) | 526,806 | 147,099 | 21,489 | ||||||||
Beginning balance (ASU 2016-13 [Member]) at Dec. 31, 2021 | [1] | $ (2,610) | $ 0 | $ 0 | $ 0 | $ (2,610) | $ 0 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Net Income | 49,653 | 0 | 0 | 0 | 49,653 | 0 | ||||||||
Other comprehensive loss | (105,938) | $ 0 | 0 | 0 | 0 | (105,938) | ||||||||
Issuance of shares from equity-based awards (in shares) | 394,933 | |||||||||||||
Issuance of shares from equity-based awards | (627) | $ 4 | 0 | (631) | 0 | 0 | ||||||||
Open market common share repurchases | (30,981) | $ 0 | (30,981) | 0 | 0 | 0 | ||||||||
Open market common share repurchases (in shares) | (2,090,782) | |||||||||||||
Employee receivables from sale of stock | 6 | $ 0 | 0 | 0 | 6 | 0 | ||||||||
Stock-based compensation | 3,304 | $ 0 | 0 | 3,304 | 0 | 0 | ||||||||
Exercise of warrants (in shares) | 33,500 | |||||||||||||
Exercise of warrants | $ 167 | $ 0 | 0 | 167 | 0 | 0 | ||||||||
Ending balance (in shares) at Sep. 30, 2022 | 53,018,448 | 48,787,696 | ||||||||||||
Ending balance at Sep. 30, 2022 | $ 580,547 | $ 530 | (59,328) | 529,646 | 194,148 | (84,449) | ||||||||
Beginning balance (in shares) at Jun. 30, 2022 | 49,535,949 | |||||||||||||
Beginning balance at Jun. 30, 2022 | 608,015 | $ 529 | (48,501) | 528,548 | 176,868 | (49,429) | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Net Income | 17,280 | 0 | 0 | 0 | 17,280 | 0 | ||||||||
Other comprehensive loss | (35,020) | $ 0 | 0 | 0 | 0 | (35,020) | ||||||||
Issuance of shares from equity-based awards (in shares) | 46,204 | |||||||||||||
Issuance of shares from equity-based awards | 30 | $ 1 | 0 | 29 | 0 | 0 | ||||||||
Open market common share repurchases | (10,827) | $ 0 | (10,827) | 0 | 0 | 0 | ||||||||
Open market common share repurchases (in shares) | (794,457) | |||||||||||||
Stock-based compensation | $ 1,069 | $ 0 | 0 | 1,069 | 0 | 0 | ||||||||
Ending balance (in shares) at Sep. 30, 2022 | 53,018,448 | 48,787,696 | ||||||||||||
Ending balance at Sep. 30, 2022 | $ 580,547 | $ 530 | $ (59,328) | $ 529,646 | $ 194,148 | $ (84,449) | ||||||||
|
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
9 Months Ended | |||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
|||
Operating Activities | ||||
Net Income | $ 49,653 | $ 48,612 | ||
Items not requiring (providing) cash | ||||
Depreciation and amortization | 3,716 | 3,993 | ||
Provision for credit losses | [1] | 4,844 | 1,000 | |
Accretion of discounts and amortization of premiums on securities | 3,259 | 3,876 | ||
Stock based compensation | 3,304 | 3,373 | ||
Foreclosed asset impairment | 0 | 630 | ||
Deferred income taxes | 1,713 | 2,233 | ||
Net increase in bank owned life insurance | (1,200) | (3,088) | ||
Net unrealized losses on equity securities | 261 | 6,243 | ||
Net realized (gains) losses on available-for-sale securities | 43 | (1,043) | ||
Changes in | ||||
Interest receivable | (4,530) | 1,308 | ||
Other assets | 3,802 | (1,753) | ||
Other liabilities | (2,989) | (541) | ||
Net cash provided by operating activities | 61,876 | 64,843 | ||
Investing Activities | ||||
Net change in loans | (425,494) | 196,637 | ||
Purchases of available-for-sale securities | (82,305) | (168,705) | ||
Proceeds from maturities of available-for-sale securities | 29,587 | 83,546 | ||
Proceeds from sale of available-for-sale securities | 0 | 15,923 | ||
Proceeds from the sale of foreclosed assets | 237 | 628 | ||
Purchase of premises and equipment | (1,878) | (671) | ||
Proceeds from the sale of premises and equipment and related insurance claims | 0 | 547 | ||
Purchase of restricted equity securities | (6,957) | 0 | ||
Proceeds from sale of restricted equity securities | 10,111 | 3,143 | ||
Proceeds from death benefit on bank owned life insurance | 0 | 3,483 | ||
Net cash provided by (used in) investing activities | (476,699) | 134,531 | ||
Financing Activities | ||||
Net increase in demand deposits, savings, NOW and money market accounts | 178,134 | 84,218 | ||
Net increase (decrease) in time deposits | 125,784 | (342,361) | ||
Net decrease in fed funds purchased and repurchase agreements | 0 | (2,306) | ||
Proceeds from Federal Home Loan Bank advances | 50,000 | 0 | ||
Repayment of Federal Home Loan Bank advances | (149,000) | (16,500) | ||
Net proceeds of Federal Home Loan Bank line of credit | 67,748 | 0 | ||
Issuance of common shares, net of issuance cost | 171 | 3 | ||
Proceeds from employee stock purchase plan | 364 | 172 | ||
Repurchase of common stock | (30,981) | (13,939) | ||
Acquisition of common stock for tax withholding obligations | (995) | (784) | ||
Net decrease in employee receivables | 6 | 35 | ||
Net cash provided by (used in) financing activities | 241,231 | (291,462) | ||
Decrease in Cash and Cash Equivalents | (173,592) | (92,088) | ||
Cash and Cash Equivalents, Beginning of Period | 482,727 | 408,810 | ||
Cash and Cash Equivalents, End of Period | 309,135 | 316,722 | ||
Supplemental Cash Flows Information | ||||
Interest paid | 25,648 | 19,402 | ||
Income taxes paid | $ 10,545 | $ 8,370 | ||
|
Nature of Operations and Summary of Significant Accounting Policies |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Nature of Operations and Summary of Significant Accounting Policies [Abstract] | |
Nature of Operations and Summary of Significant Accounting Policies | Note 1: Nature of Operations and Summary of Significant Accounting Policies Organization and Nature of Operations CrossFirst Bankshares, Inc. (the “Company”) is a bank holding company whose principal activities management of its wholly-owned subsidiary, CrossFirst Bank (the three CrossFirst Investments, Inc. (“CFI”) that holds investments in marketable The Bank is primarily engaged in providing a full range of banking and financial through its branches in: (i) Leawood, Kansas; (ii) Wichita, Kansas; (iii) Kansas City, Missouri; Tulsa, Oklahoma; (vi) Dallas, Texas; (vii) Frisco, Texas; and (viii) Phoenix, Arizona. On June 13, 2022, the Company announced its entry into an agreement under Bank, the bank subsidiary of Central Bancorp, Inc. (collectively, Farmers referred as “Central”), for approximately $ 75 currently expected to close in the fourth quarter of 2022, subject to the satisfaction “Note 16: Subsequent Events” for further information about the acquisition. Basis of Presentation The Company’s accounting and reporting policies conform to accounting (“GAAP”). The consolidated financial statements include the accounts of the Company, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated interim financial statements are unaudited. Certain accordance with GAAP have been condensed or omitted and should be read in conjunction with the Company’s statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December Form 10-K”), filed with the Securities and Exchange Commission (the “SEC”) on necessary for the fair presentation of the financial position, results of operations, financial statements have been prepared in accordance with GAAP for interim financial information and the instructions adopted by the SEC. Refer to the “accounting pronouncements implemented” below for significant changes to the Company’s accounting policies, other below, have occurred since December 31, 2021, the most recent date 2021 expected for a full year or any future period. Use of Estimates The Company identified accounting policies and estimates that, due assumptions inherent in those policies and estimates and the potential sensitivity judgments and assumptions, are critical to an understanding of the Company’s results could differ from those estimates. The allowance for credit losses, deferred particularly susceptible to significant change. Cash Equivalents The Company had $ 205 2022. Emerging Growth Company (“EGC”) The Company is currently an EGC. An EGC may take advantage of reduced reporting requirements and is relieved of certain other significant requirements that are otherwise generally applicable Company elected to extend the transition period for complying with new or revised This means that the financial statements the Company files or furnishes will not be generally applicable to public companies for the transition period for affirmatively and irrevocably opts out of the extended transition period Accounting Pronouncements Implemented ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement Instruments: Background measured at amortized cost, including loans held-for-investment and Credit Loss (“CECL”) model requires an estimate of expected credit losses, measured that considers forecasts of future economic conditions in addition to information 2016-13 requires new disclosures, including the use of vintage In addition, ASU 2016-13 removes the available-for-sale (“AFS”) securities other-than-temporary-impairment model the cost basis of the investment and is replaced with an impairment model that available-for-sale securities. Implementation selection, implementation, and testing of third-party software. The Company used a loss-rate ("cohort") method to estimate the expected allowance The cohort method identifies and captures the balance of a pool of loans with similar in time to form a cohort, then tracks the respective losses generated by that cohort of loans over loans are “exhausted” (i.e., have reached an acceptable point in time at which expected to have been recognized). The cohort method closely aligned Company to take advantages of the efficiencies of processes and procedures already The Company began parallel processing with the existing allowance recalibrating inputs as necessary. The Company formulated changes to policies, procedures, were necessary to transition to the new standard. A third-party completed validation of the completeness, accuracy, and reasonableness of the model in the fourth quarter of 2021. Refer to additional information regarding the policies, procedures, and credit Impact of adoption disclosures as of and for the three- Financial Instruments-Credit Losses. The Company did not recast comparative disclosures under previously applicable GAAP. Because the Company deferred fees and costs. As a result, the Company transferred the previously disclosed unearned fees into the applicable loan segments. The Company used the prospective transition approach for AFS securities for which other-than-temporary-impairment recognized prior to January 1, 2022. As a result, the amortized cost basis remains the same before and after the effective date of ASU 2016-13. The following table illustrates the impact of adopting ASU 2016-13 and details how outstanding loan balances have been reclassified because of changes made to the Company’s loan segments under In connection with adoption of ASU 2016-13, changes were made to the Company’s loan segments to align with the methodology applied in determining the allowance under CECL. The commercial and industrial loan portfolio and lines of credit. In addition, the remaining Paycheck Protection Program (“PPP”) and industrial term loan segment due to their declining outstanding balance. multifamily real estate loan segments. Refer to “Note 4: Loans and Allowance for Credit Losses” for detail on the Accounting Policies: Accrued Interest - The Company made an accounting policy election to exclude accrued interest from the Company elected not to measure an allowance for credit losses for accrued policy exists. The policy generally requires loans to be placed on non-accrual due unless the loan is well-secured and in the process of collection. A well-secured loan means that collateral or a guaranty has sufficient value to pay off the loan in full. When a loan is placed on non-accrual, accrued income. The Company made a policy election to exclude accrued interest from are placed on non-accrual status when the Company no longer expects at 90 days past due. Accrued interest receivable is reversed against interest income when a security is placed on non-accrual status. Accordingly, the Company did not recognize an allowance for credit loss against accrued interest receivable. Available-for-sale Securities in an Unrealized Loss Position – For AFS securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more that it will be required to sell the security before recovery of its amortized cost basis. If requirement to sell is met, the securities’ amortized cost basis is written down to fair value through income. For AFS securities that do not meet the criteria above, the Company evaluates whether the decline other factors. Management considers the extent to which fair value is less than amortized security by a rating agency, and adverse conditions specifically related to If this assessment indicates that a credit loss exists, the present value of cash flows compared to the amortized cost basis of the security. If the present value of amortized cost basis, a credit loss exists and an allowance for credit losses is recorded that the fair value is less than amortized cost basis. ASU 2016-02, Leases (Topic 842): Background such leases. This represents a change from previous GAAP that did not require operating leases to be recognized on the lessees’ balance sheet. The purpose agreements. On the lease commencement date (or on the date of adoption), a lessee is required the present value of the remaining lease payments, discounted using an appropriate is recorded that consists of the initial measurement of the lease liability adjusted for received and initial direct costs. For operating leases, after lease commencement, the lease liability is reported discounted using the discount rate established at lease commencement. The lease payments in the lease term and lease incentives not yet recognized. The sum is then the lease term. The right-of-use asset is amortized as the difference between liability. Implementation properties located in the Kansas City, Missouri; Tulsa, Oklahoma; Dallas, Texas; Frisco, Texas; and Phoenix, Arizona markets. The remaining lease terms range from two to twenty years with potential renewal terms including fixed payments with annual increases to variable payments. incentives. The discount rates were not readily determinable in the lease agreements. As a result, the Company used the incremental borrowing rate in accordance with Topic 842. The Company used the Federal Home Loan Bank (“FHLB”) incremental borrowing rate. The Company elected several practical expedients that are listed below: Impact of Adoption Company did not recast comparative financial periods and has presented The following table illustrates the impact of adopting ASU 2016-02 on the Company’s financial statements: Recent Accounting Pronouncements ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Background gross write-offs. The update eliminates the accounting guidance for TDRs and requires a company to results in a new loan or a continuation of an existing loan. The update enhances the required made to borrowers experiencing financial difficulty. In addition, the update requires disclosure of current-period gross charge For the Company, the amendments are effective as of January 1, 2023, but early the beginning of the fiscal year of adoption. Impact of adoption impact cannot be established. January 1, 2022 As Reported under ASU 2016-13 Pre-ASU 2016-13 Impact of ASU 2016-13 Adoption (Dollars in thousands) Assets: Loans (outstanding balance) Commercial and Industrial $ 843,024 $ 1,401,681 $ (558,657) Commercial and Industrial lines of credit 617,398 - 617,398 Energy 278,579 278,860 (281) Commercial real estate 1,278,479 1,281,095 (2,616) Construction and land development 574,852 578,758 (3,906) Residential real estate 360,046 600,816 (240,770) Multifamily real estate 240,230 - 240,230 PPP - 64,805 (64,805) Consumer 63,605 63,605 - Gross Loans 4,256,213 4,269,620 (13,407) Net deferred loan fees and costs - 13,407 (13,407) Allowance for credit losses on loans 56,628 58,375 (1,747) Loans, net of the allowance for credit losses on loans 4,199,585 4,197,838 1,747 Deferred tax asset $ 13,647 $ 14,474 $ (827) Liabilities Allowance for credit losses on off-balance sheet exposures $ 5,184 $ - $ 5,184 Stockholders' equity Retained earnings $ 144,489 $ 147,099 $ (2,610) January 1, 2022 As Reported under ASU 2016-02 Pre-ASU 2016-02 Impact of ASU 2016-02 Adoption (Dollars in thousands) Assets: Right-of-use asset $ 23,589 $ - $ 23,589 Liabilities: Lease incentive - 2,125 (2,125) Accrued rent payable - 904 (904) Lease liability $ 26,618 $ - $ 26,618 Practical Expedient Elected Impact to Lease Accounting Implementation An entity need not reassess whether any expired or existing contracts are or contain leases. The Company was not required to re-evaluate previously identified leases, including embedded leases, that existed as of the adoption date. An entity need not reassess the lease classification for an expired or existing leases. The Company was not required to re-classify previously identified operating leases that existed as of the adoption date. The Company did not have any capital leases as of December 31, 2021. An entity need not reassess initial direct costs for any existing leases. The Company was not required to review previously established lease agreements as of the adoption date for initial direct costs. Initial direct costs increase the right-of-use asset and do not impact the lease liability. An entity may combine lease and non-lease components. If not elected, the Company would be required to allocate the total consideration in a lease contract to lease and non-lease components based their relative standalone price. The election results in higher right-of-use assets and lease liabilities. Short-term lease exemption. The Company is not required to record a right-of-use asset and lease liability for a lease whose term is 12 months or less and does not include a purchase option that the lessee is reasonably certain to exercise. |
Earnings Per Share |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 2: Earnings Per Share The following table presents the computation of basic and diluted earnings per Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars in thousands except per share data) Earnings per Share Net income available to common stockholders $ 17,280 $ 21,000 $ 49,653 $ 48,612 Weighted average common shares 49,266,811 50,990,113 49,755,184 51,368,957 Earnings per share $ 0.35 $ 0.41 $ 1.00 $ 0.95 Diluted Earnings per Share Net income available to common stockholders $ 17,280 $ 21,000 $ 49,653 $ 48,612 Weighted average common shares 49,266,811 50,990,113 49,755,184 51,368,957 Effect of dilutive shares 454,682 615,608 525,409 699,257 Weighted average dilutive common shares 49,721,493 51,605,721 50,280,593 52,068,214 Diluted earnings per share $ 0.35 $ 0.41 $ 0.99 $ 0.93 Stock-based awards not included because to do so would be antidilutive 529,336 587,200 334,725 657,887 |
Securities |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Securities [Abstract] | |
Securities | Note 3: Securities The amortized cost and approximate fair values, together with gross unrealized securities consisted of the following: As of September 30, 2022, the available-for-sale securities had $ 6 basis. The amortized cost and fair value of available-for-sale securities at September below: Actual maturities may differ from contractual maturities because issuers may have without prepayment penalties. (2) Yields are calculated based on amortized cost. The following tables show the number of securities, unrealized loss, and fair value of losses, aggregated by investment class and length of time that individual September 30, 2022 and December 31, 2021: Based on the Company’s evaluation at September 30, 2022, under no t been recorded no r have unrealized losses been recognized into income. The issuers of the securities are of high have a long history of no credit losses; management does not intend to sell, and the securities prior to their anticipated recovery; market conditions. The issuers continue to make timely principal and interest The following tables show the gross gains and losses on securities that matured Equity Securities Equity securities consist of a $ 2 2 three private equity funds. Equity securities are included in “other assets” on The Company elected a measurement alternative for the three private an impairment is identified or an observable price change for an identical recorded when there is evidence that the expected fair value of the occurred during the three or nine-month periods ended September The following is a summary of the unrealized and realized gains and losses on equity September 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Approximate Fair Value (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential $ 178,287 $ - $ 27,761 $ 150,526 Collateralized mortgage obligations - GSE residential 12,489 - 752 11,737 State and political subdivisions 568,863 299 79,696 489,466 Corporate bonds 5,110 13 325 4,798 Total available-for-sale securities $ 764,749 $ 312 $ 108,534 $ 656,527 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Approximate Fair Value (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential $ 161,675 $ 1,809 $ 1,774 $ 161,710 Collateralized mortgage obligations - GSE residential 18,130 311 10 18,431 State and political subdivisions 532,906 29,329 767 561,468 Corporate bonds 4,241 119 - 4,360 Total available-for-sale securities $ 716,952 $ 31,568 $ 2,551 $ 745,969 September 30, 2022 Within After One to After Five to After One Year Five Years Ten Years Ten Years Total (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential (1) Amortized cost $ - $ 24 $ 105 $ 178,158 $ 178,287 Estimated fair value $ - $ 23 $ 101 $ 150,402 $ 150,526 Weighted average yield (2) - % 4.78 % 4.01 % 2.06 % 2.06 % Collateralized mortgage obligations - GSE residential (1) Amortized cost $ - $ - $ 2,365 $ 10,124 $ 12,489 Estimated fair value $ - $ - $ 2,241 $ 9,496 $ 11,737 Weighted average yield (2) - % - % 2.77 % 2.27 % 2.37 % State and political subdivisions Amortized cost $ 1,127 $ 5,028 $ 112,642 $ 450,066 $ 568,863 Estimated fair value $ 1,131 $ 5,070 $ 110,310 $ 372,955 $ 489,466 Weighted average yield (2) 3.37 % 3.88 % 3.26 % 2.73 % 2.85 % Corporate bonds Amortized cost $ - $ 498 $ 4,612 $ - $ 5,110 Estimated fair value $ - $ 501 $ 4,297 $ - $ 4,798 Weighted average yield (2) - % 6.22 % 4.31 % - % 4.49 % Total available-for-sale securities Amortized cost $ 1,127 $ 5,550 $ 119,724 $ 638,348 $ 764,749 Estimated fair value $ 1,131 $ 5,594 $ 116,949 $ 532,853 $ 656,527 Weighted average yield (2) 3.37 % 4.09 % 3.29 % 2.53 % 2.66 % September 30, 2022 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential $ 104,743 $ 16,106 43 $ 45,783 $ 11,655 14 $ 150,526 $ 27,761 57 Collateralized mortgage obligations - GSE residential 11,430 740 18 307 12 1 11,737 752 19 State and political subdivisions 410,905 55,588 344 48,255 24,108 39 459,160 79,696 383 Corporate bonds 4,535 325 4 - - - 4,535 325 4 Total temporarily impaired securities $ 531,613 $ 72,759 409 $ 94,345 $ 35,775 54 $ 625,958 $ 108,534 463 December 31, 2021 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential $ 87,306 $ 1,774 16 $ - $ - - $ 87,306 $ 1,774 16 Collateralized mortgage obligations - GSE residential 803 10 2 - - - 803 10 2 State and political subdivisions 72,915 762 39 1,310 5 4 74,225 767 43 Corporate bonds - - - - - - - - - Total temporarily impaired securities $ 161,024 $ 2,546 57 $ 1,310 $ 5 4 $ 162,334 $ 2,551 61 For the Three Months Ended For the Nine Months Ended September 30, 2022 September 30, 2022 Gross Realized Gains Gross Realized Losses Net Realized Loss Gross Realized Gains Gross Realized Losses Net Realized Loss (Dollars in thousands) Available-for-sale securities $ 1 $ (5) $ (4) $ 3 $ (46) $ (43) For the Three Months Ended For the Nine Months Ended September 30, 2021 September 30, 2021 Gross Realized Gains Gross Realized Losses Net Realized Loss Gross Realized Gains Gross Realized Losses Net Realized Loss (Dollars in thousands) Available-for-sale securities $ 1,125 $ (79) $ 1,046 $ 1,151 $ (108) $ 1,043 Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars in thousands) Net gains (losses) recognized during the reporting period on equity securities $ (87) $ (6,210) $ (261) $ (6,243) Less: net gains recognized during the reporting period on equity securities sold during the reporting period - - - - Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date $ (87) $ (6,210) $ (261) $ (6,243) |
Loans and Allowance for Loan Losses ("ALLL") |
9 Months Ended |
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Sep. 30, 2022 | |
Loans and Allowance for Loan Losses ("ALLL") [Abstract] | |
Loans and Allowance for Loan Losses ("ALLL") | Note 4: Loan Portfolio Segments Categories of loans at September 30, 2022 and December 31, 2021 include: Accrued interest of $ 15 10 assets” on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed The Company aggregates the loan portfolio by similar credit risk characteristics. The detail below: ● Commercial and Industrial plant, and equipment purchases and expansions. Loan terms typically require decrease the outstanding loan balance. operation. Credit risk is driven by creditworthiness of a borrower and stability from business operations. The category also includes the remaining PPP loans outstanding. These loans were established by the Relief, and Economic Security Act which authorized forgivable loans to small businesses to pay their employees during the COVID-19 pandemic. The loans are 100 repayment is primarily dependent on the borrower’s cash flow or SBA repayment approval. ● Commercial and Industrial Lines of Credit – The category includes lines of credit to commercial and industrial customers for working capital needs. The loan terms typically require interest-only require the full balance paid-off at maturity. Lines of credit allow the borrower based on the customer’s cash flow needs. Repayment is primarily from the operating risk is driven by creditworthiness of a borrower and the economic conditions that impact business operations. ● Energy exploration and production activities, and acquisitions. The loans are repaid primarily and natural gas to cash. Credit risk is driven by creditworthiness of a borrower and the the cash flow stability from business operations. Energy loans are typically collateralized reserves. ● Commercial Real Estate these loans is generally dependent on the successful operations of the property conducted on the property securing the loan. These are viewed primarily as cash flow loans and secured by real estate. Credit risk may be impacted by the creditworthiness of economies in the borrower’s market areas. ● Construction and Land Development estimated value of the completed project and include independent appraisal reviews developers and property owners. Sources of repayment include permanent interim loan commitment from the Company until permanent financing other real estate loans due to their ultimate repayment being sensitive to interest rate changes, conditions, and the availability of long-term financing. Credit risk may borrower, property values and the local economies in the borrower’s market ● Residential Real Estate - The category includes loans that are generally secured by owner-occupied residences. Credit risk in these loans can be impacted by economic conditions within or outside might impact either property values or a borrower’s personal income. ● Multifamily Real Estate - The category includes loans that are generally secured by multifamily properties. of these loans is primarily dependent on occupancy rates and the personal loans can be impacted by economic conditions within or outside the property values or the tenants’ personal income. ● Consumer - The category includes revolving lines of credit and various term loans such for other personal purposes. Repayment is primarily dependent on borrowers. Credit risk is driven by consumer economic factors (such as unemployment in the borrower’s market area) and the creditworthiness of a borrower. Allowance for Credit Losses The Company established a CECL committee that meets at least quarterly to oversee the ACL methodology. The committee estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The ACL represents the Company’s current estimate of lifetime credit losses inherent in the loan portfolio at the balance sheet date. The ACL is adjusted for expected prepayments when appropriate and excludes expected extensions, renewals, and modifications. The ACL is the sum of three components: (i) asset specific / individual loan reserves; (ii) quantitative (formulaic or pooled) reserves; and (iii) qualitative (judgmental) reserves. Asset Specific - individually evaluated. Individual reserves are calculated for loans risk-rated doubtful or loss that are greater than a defined dollar threshold. asset specific loans may be based on collateral, for collateral-dependent expected cash flow, market sentiment, and guarantor support. Quantitative - The Company used the cohort method, which identifies and captures the balance of a pool of loans with risk characteristics as of a particular time to form a cohort. For example, the commercial and industrial lines of credit loan segments as of quarter over the remaining life of loans or until the pool is exhausted. The Company used a lookback establish the cohort population. By using the historical data timeframe, loan segments and adjust the losses with qualitative and forecast factors. Qualitative primarily uses the following qualitative factors: ◾ The nature and volume of changes in risk ratings; ◾ The volume and severity of past due loans; ◾ The volume of non-accrual loans; ◾ The nature and volume of the loan portfolio, including the existence, growth, ◾ Changes in the Institute of Supply Management’s Purchasing Manager Indices ◾ Changes in collateral values; ◾ Changes in lending policies, procedures, and quality of loan reviews; ◾ Changes in lending staff; and ◾ Changes in competition, legal and regulatory environments In addition to the current condition qualitative adjustments, the Company uses the adjust the ACL based on forward looking guidance. The Federal Reserve’s unemployment forecast extends three-years and is eventually reverted to the mean of six percent by year 10. Drivers of Change in the ACL The ACL increased by less than $ 0.1 $ 2.1 1.9 of $ 0.2 2.5 driven by $ 4.1 5.8 increase of $ 7.4 Credit Quality Indicators Internal Credit Risk Ratings The Company uses a weighted average risk rating factor to adjust the historical incorporate the criteria utilized by regulatory authorities to describe criticized within the regulatory “Pass” category. Risk ratings are established for rating assigned to a loan reflects the risks posed by the borrower’s expected metrics used to determine a risk rating include, but are not limited to, cash flow loan risk ratings follows: Loan Grades ● Pass (risk rating 1-4) that generally maintain good liquidity and financial condition, or remaining flat or declining. Most ratios compare favorably with industry programmed and timely repayment is expected. ● Special Mention (risk rating 5) an imbalanced position in their balance sheet that has not reached a point where repayment currently protected but, if left uncorrected, the potential weaknesses may prospects for the credit or in the Company’s credit or lien position at a future date. These credits are classified and do not expose the Company to enough risk to warrant adverse ● Substandard (risk rating 6) jeopardize repayment. Credits are inadequately protected by the current worth the collateral pledged. A distinct possibility exists that the Company will sustain some loss if deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does individual assets classified substandard. Substandard loans include both broken out in the table below. ● Doubtful (risk rating 7) - The category includes borrowers that exhibit weaknesses inherent in a substandard credit and characteristics that these weaknesses make collection or liquidation in full highly existing facts, conditions, and values. Because of reasonably specific pending and strengthening of the assets, classification as a loss is deferred until its more ● Loss (risk rating 8) - Credits which are considered uncollectible or of such little value that their continuance bankable asset is not warranted. The following tables present the credit risk profile of the Company’s loan portfolio Loan Portfolio Aging Analysis The following tables present the Company’s loan portfolio aging analysis as of September Non-accrual Loan Analysis Non-accrual loans are loans for which the Company does not record interest unless the credit is well secured and in process of collection. Past due status is based on an earlier date, if collection of principal or interest is considered doubtful. Loans brought current and future payments are reasonably assured. The following Interest income recognized on non-accrual loans was $ 0.9 1.3 Allowance for Credit Losses The following table presents the activity in the allowance for credit losses and three-month period ended September 30, 2022: Collateral Dependent Loans: Collateral dependent loans are loans for which the repayment is expected to be provided sale of the collateral and the borrower is experiencing financial difficulty. The following loans considered collateral dependent by loan segment and collateral type Troubled Debt Restructurings TDRs are those extended to borrowers who are experiencing financial excluding loan modifications as a result of the COVID-19 pandemic. maturity, reduction or deferment of monthly payment, or reduction of the For the nine-month periods ended September 30, 2022 and 2021, no outstanding balance of TDRs was $ 34 40 Disclosures under Previously Applicable The following disclosures are presented under previously applicable GAAP. The description loan rating categories is as described above. The following table presents an internal rating category and portfolio segment as of December 31, 2021: The following table presents the Company’s loan portfolio aging analysis of the 2021: The following table presents the Company’s loans on non-accrual as of The following table presents the allowance for loan losses by portfolio segment impairment methodology: A loan is considered impaired when based on current information and events, it is probable the Company will be unable to all amounts due from the borrower in accordance with the contractual terms but also include loans modified in TDRs where concessions have been granted to borrowers experiencing intent of concessions is to maximize collection. The following table presents loans Total interest income recognized during the three and nine-month periods 0.6 million and $ 1.9 2021 was $ 95 97 The following table presents the activity in the allowance for loan losses by portfolio periods ended September 30, 2021: Allowance for Credit Losses on Off-Balance Sheet Credit Exposures The Company estimates expected credit losses for off-balance sheet credit cancellable by the Company. The ACL on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate is calculated for each loan segment and includes consideration of the expected credit losses on commitments expected to be funded over its estimated life. to be funded, the Company uses the reserve rate established for the related balance sheet credit exposures at September 30, 2022 is included in “interest payable The following categories of off-balance sheet credit exposures have been Loan commitments – include revolving lines of credit, non-revolving lines Risks inherent to revolving lines of credit often are related to the susceptibility of unpredictable cash flow or financial troubles, thus leading to payment default. lines of credit is the diversion of funds for other expenditures. Letters of credit – are primarily established to provide assurance to the beneficiary obligations arising out of a separate transaction between the beneficiary and beneficiary the right to draw on the letter of credit. September 30, 2022 December 31, 2021 (Dollars in thousands) Commercial and industrial $ 857,836 $ 843,024 Commercial and industrial lines of credit 831,187 617,398 Energy 178,855 278,579 Commercial real estate 1,400,338 1,278,479 Construction and land development 674,041 574,852 Residential real estate 393,867 360,046 Multifamily real estate 275,795 240,230 Consumer 65,727 63,605 Loans, net of unearned fees 4,677,646 4,256,213 Less: allowance for credit losses (1) 55,864 58,375 Loans, net $ 4,621,782 $ 4,197,838 (1) Operations and Summary of Significant Accounting Policies.” As of September 30, 2022 Amortized Cost Basis by Origination Year and Internal Risk Rating Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving Loans Revolving Loans converted to Term Loans Total (Dollars in thousands) Commercial and industrial Pass $ 285,880 $ 287,991 $ 70,591 $ 55,167 $ 55,665 $ 21,134 $ - $ 30,392 $ 806,820 Special mention 1,283 2,241 12,063 996 302 112 - 6,501 23,498 Substandard - accrual - 455 1,485 2,165 758 46 - 20,416 25,325 Substandard - non- accrual - 104 - 6 1,383 700 - - 2,193 Doubtful - - - - - - - - - Total $ 287,163 $ 290,791 $ 84,139 $ 58,334 $ 58,108 $ 21,992 $ - $ 57,309 $ 857,836 Commercial and industrial Pass $ - $ - $ - $ - $ - $ - $ 780,710 $ - $ 780,710 Special mention - - - - - - 32,814 - 32,814 Substandard - accrual - - - - - - 11,188 - 11,188 Substandard - non- accrual - - - - - - 6,475 - 6,475 Doubtful - - - - - - - - - Total $ - $ - $ - $ - $ - $ - $ 831,187 $ - $ 831,187 Energy Pass $ 7,446 $ 403 $ 246 $ - $ 7 $ - $ 156,119 $ 188 $ 164,409 Special mention - - - - - - 7,152 - 7,152 Substandard - accrual - - - - - - 2,131 - 2,131 Substandard - non- accrual - - - - - - 3,375 - 3,375 Doubtful - - - - - - 1,788 - 1,788 Total $ 7,446 $ 403 $ 246 $ - $ 7 $ - $ 170,565 $ 188 $ 178,855 As of September 30, 2022 Amortized Cost Basis by Origination Year and Internal Risk Rating Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving Loans Revolving Loans converted to Term Loans Total (Dollars in thousands) Commercial real estate Pass $ 270,669 $ 259,299 $ 145,530 $ 110,155 $ 67,990 $ 74,465 $ 293,169 $ 98,783 $ 1,320,060 Special mention 11,927 9,870 - 422 6,280 290 2,420 33,086 64,295 Substandard - accrual 10,535 - 327 - - 1,232 - 992 13,086 Substandard - non- accrual 408 2,489 - - - - - - 2,897 Doubtful - - - - - - - - - Total $ 293,539 $ 271,658 $ 145,857 $ 110,577 $ 74,270 $ 75,987 $ 295,589 $ 132,861 $ 1,400,338 Construction and land development Pass $ 205,062 $ 290,753 $ 126,364 $ 24,323 $ 3,663 $ 1,367 $ 14,679 $ - $ 666,211 Special mention - 7,830 - - - - - - 7,830 Substandard - accrual - - - - - - - - - Substandard - non- accrual - - - - - - - - - Doubtful - - - - - - - - - Total $ 205,062 $ 298,583 $ 126,364 $ 24,323 $ 3,663 $ 1,367 $ 14,679 $ - $ 674,041 Residential real estate Pass $ 64,540 $ 79,235 $ 120,891 $ 46,023 $ 38,417 $ 35,590 $ 1,894 $ - $ 386,590 Special mention 253 3,290 - 231 - - - - 3,774 Substandard - accrual 142 - 3,166 - - - - - 3,308 Substandard - non- accrual - - - - - - - 195 195 Doubtful - - - - - - - - - Total $ 64,935 $ 82,525 $ 124,057 $ 46,254 $ 38,417 $ 35,590 $ 1,894 $ 195 $ 393,867 As of September 30, 2022 Amortized Cost Basis by Origination Year and Internal Risk Rating Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving Loans Revolving Loans converted to Term Loans Total (Dollars in thousands) Multifamily real estate Pass $ 78,194 $ 33,272 $ 5,363 $ 12,005 $ 3,078 $ 822 $ 126,518 $ 16,506 $ 275,758 Special mention - - - - - - - 37 37 Substandard - accrual - - - - - - - - - Substandard - non- accrual - - - - - - - - - Doubtful - - - - - - - - - Total $ 78,194 $ 33,272 $ 5,363 $ 12,005 $ 3,078 $ 822 $ 126,518 $ 16,543 $ 275,795 Consumer Pass $ 11,629 $ 2,512 $ 1,914 $ 221 $ 110 $ 30 $ 49,311 $ - $ 65,727 Special mention - - - - - - - - - Substandard - accrual - - - - - - - - - Substandard - non- accrual - - - - - - - - - Doubtful - - - - - - - - - Total $ 11,629 $ 2,512 $ 1,914 $ 221 $ 110 $ 30 $ 49,311 $ - $ 65,727 Total Pass $ 923,420 $ 953,465 $ 470,899 $ 247,894 $ 168,930 $ 133,408 $ 1,422,400 $ 145,869 $ 4,466,285 Special mention 13,463 23,231 12,063 1,649 6,582 402 42,386 39,624 139,400 Substandard - accrual 10,677 455 4,978 2,165 758 1,278 13,319 21,408 55,038 Substandard - non- accrual 408 2,593 - 6 1,383 700 9,850 195 15,135 Doubtful - - - - - - 1,788 - 1,788 Total $ 947,968 $ 979,744 $ 487,940 $ 251,714 $ 177,653 $ 135,788 $ 1,489,743 $ 207,096 $ 4,677,646 As of September 30, 2022 Amortized Cost Basis by Origination Year and Past Due Status Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Revolving loans converted to term loans Total (Dollars in thousands) Commercial and industrial 30-59 days $ 600 $ - $ - $ 15 $ - $ - $ - $ - $ 615 60-89 days - - - - - - - - - Greater than 90 days - 124 7 75 1,383 655 - - 2,244 Total past due 600 124 7 90 1,383 655 - - 2,859 Current 286,563 290,667 84,132 58,244 56,725 21,337 - 57,309 854,977 Total $ 287,163 $ 290,791 $ 84,139 $ 58,334 $ 58,108 $ 21,992 $ - $ 57,309 $ 857,836 Greater than 90 days and accruing $ - $ 20 $ 7 $ 73 $ - $ - $ - $ - $ 100 Commercial and industrial lines of credit 30-59 days $ - $ - $ - $ - $ - $ - $ 3,796 $ - $ 3,796 60-89 days - - - - - - - - - Greater than 90 days - - - - - - 1,568 - 1,568 Total past due - - - - - - 5,364 - 5,364 Current - - - - - - 825,823 - 825,823 Total $ - $ - $ - $ - $ - $ - $ 831,187 $ - $ 831,187 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ 83 $ - $ 83 Energy 30-59 days $ - $ - $ - $ - $ - $ - $ - $ - $ - 60-89 days - - - - - - - - - Greater than 90 days - - - - - - 5,163 - 5,163 Total past due - - - - - - 5,163 - 5,163 Current 7,446 403 246 - 7 - 165,402 188 173,692 Total $ 7,446 $ 403 $ 246 $ - $ 7 $ - $ 170,565 $ 188 $ 178,855 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - As of September 30, 2022 Amortized Cost Basis by Origination Year and Past Due Status Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Revolving loans converted to term loans Total (Dollars in thousands) Commercial real estate 30-59 days $ 408 $ - $ - $ - $ - $ 195 $ - $ - $ 603 60-89 days - - - - - 1,032 - - 1,032 Greater than 90 days - - - - - - - - - Total past due 408 - - - - 1,227 - - 1,635 Current 293,131 271,658 145,857 110,577 74,270 74,760 295,589 132,861 1,398,703 Total $ 293,539 $ 271,658 $ 145,857 $ 110,577 $ 74,270 $ 75,987 $ 295,589 $ 132,861 $ 1,400,338 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - Construction and land development 30-59 days $ - $ - $ - $ - $ - $ - $ 10,629 $ - $ 10,629 60-89 days - - - - - - - - - Greater than 90 days - - - - - - - - - Total past due - - - - - - 10,629 - 10,629 Current 205,062 298,583 126,364 24,323 3,663 1,367 4,050 - 663,412 Total $ 205,062 $ 298,583 $ 126,364 $ 24,323 $ 3,663 $ 1,367 $ 14,679 $ - $ 674,041 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential real estate 30-59 days $ 142 $ - $ - $ - $ - $ - $ - $ - $ 142 60-89 days - - - - - - - - - Greater than 90 days - 120 - - - - - - 120 Total past due 142 120 - - - - - - 262 Current 64,793 82,405 124,057 46,254 38,417 35,590 1,894 195 393,605 Total $ 64,935 $ 82,525 $ 124,057 $ 46,254 $ 38,417 $ 35,590 $ 1,894 $ 195 $ 393,867 Greater than 90 days and accruing $ - $ 120 $ - $ - $ - $ - $ - $ - $ 120 As of September 30, 2022 Amortized Cost Basis by Origination Year and Past Due Status Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Revolving loans converted to term loans Total (Dollars in thousands) Multifamily real estate 30-59 days $ - $ - $ - $ - $ - $ - $ - $ - $ - 60-89 days 4,566 - - - - - - - 4,566 Greater than 90 days - - - - - - - - - Total past due 4,566 - - - - - - - 4,566 Current 73,628 33,272 5,363 12,005 3,078 822 126,518 16,543 271,229 Total $ 78,194 $ 33,272 $ 5,363 $ 12,005 $ 3,078 $ 822 $ 126,518 $ 16,543 $ 275,795 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer 30-59 days $ - $ - $ - $ - $ - $ - $ - $ - $ - 60-89 days - - - - - - - - - Greater than 90 days - - - - - - - - - Total past due - - - - - - - - - Current 11,629 2,512 1,914 221 110 30 49,311 - 65,727 Total $ 11,629 $ 2,512 $ 1,914 $ 221 $ 110 $ 30 $ 49,311 $ - $ 65,727 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - Total 30-59 days $ 1,150 $ - $ - $ 15 $ - $ 195 $ 14,425 $ - $ 15,785 60-89 days 4,566 - - - - 1,032 - - 5,598 Greater than 90 days - 244 7 75 1,383 655 6,731 - 9,095 Total past due 5,716 244 7 90 1,383 1,882 21,156 - 30,478 Current 942,252 979,500 487,933 251,624 176,270 133,906 1,468,587 207,096 4,647,168 Total $ 947,968 $ 979,744 $ 487,940 $ 251,714 $ 177,653 $ 135,788 $ 1,489,743 $ 207,096 $ 4,677,646 Greater than 90 days and accruing $ - $ 140 $ 7 $ 73 $ - $ - $ 83 $ - $ 303 As of September 30, 2022 Amortized Cost Basis by Origination Year and On Non-accrual Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Revolving loans converted to term loans Total Non- accrual Loans Non-accrual Loans with no related Allowance (Dollars in thousands) Commercial and industrial $ - $ 104 $ - $ 6 $ 1,383 $ 700 $ - $ - $ 2,193 $ 2,193 Commercial and industrial lines of credit - - - - - - 6,475 - 6,475 6,475 Energy - - - - - - 5,163 - 5,163 3,587 Commercial real estate 408 2,489 - - - - - - 2,897 2,897 Construction and land development - - - - - - - - - - Residential real estate - - - - - - - 195 195 195 Multifamily real estate - - - - - - - - - - Consumer - - - - - - - - - - Total $ 408 $ 2,593 $ - $ 6 $ 1,383 $ 700 $ 11,638 $ 195 $ 16,923 $ 15,347 For the Three Months Ended September 30, 2022 Commercial and Industrial Commercial and Industrial Lines of Credit Energy Commercial Real Estate Construction and Land Development Residential Real Estate Multifamily Real Estate Consumer Total (Dollars in thousands) Allowance for Credit Losses: Beginning balance $ 10,920 $ 11,267 $ 6,428 $ 17,042 $ 3,918 $ 3,134 $ 2,427 $ 681 $ 55,817 Charge-offs - (2,000) (642) - - - - - (2,642) Recoveries - 9 - 748 - - - 9 766 Provision (credit) 417 2,781 (958) (1,335) 669 103 246 - 1,923 Ending balance $ 11,337 $ 12,057 $ 4,828 $ 16,455 $ 4,587 $ 3,237 $ 2,673 $ 690 $ 55,864 Allowance for Credit Losses on Off-Balance Sheet Credit Exposures: Beginning balance $ 63 $ - $ 470 $ 657 $ 4,016 $ 4 $ 109 $ 1 $ 5,320 Provision (credit) 34 - 78 19 1,304 (2) (25) 3 1,411 Ending balance $ 97 $ - $ 548 $ 676 $ 5,320 $ 2 $ 84 $ 4 $ 6,731 For the Nine Months Ended September 30, 2022 Commercial and Industrial (1) Commercial and Industrial Lines of Credit (1) Energy Commercial Real Estate Construction and Land Development Residential Real Estate (2) Multifamily Real Estate (2) Consumer Total (Dollars in thousands) Allowance for Credit Losses: Beginning balance, prior to adoption of ASU 2016-13 $ 20,352 $ - $ 9,229 $ 19,119 $ 3,749 $ 5,598 $ - $ 328 $ 58,375 Impact of ASU 2016-13 adoption (10,213) 8,866 (39) (186) (83) (2,552) 2,465 (5) (1,747) Charge-offs (790) (3,971) (4,609) (1,102) - (217) - (13) (10,702) Recoveries 755 1,788 1,754 2,333 - - - 11 6,641 Provision (credit) 1,233 5,374 (1,507) (3,709) 921 408 208 369 3,297 Ending balance $ 11,337 $ 12,057 $ 4,828 $ 16,455 $ 4,587 $ 3,237 $ 2,673 $ 690 $ 55,864 Allowance for Credit Losses on Off-Balance Sheet Credit Exposures: Beginning balance, prior to adoption of ASU 2016-13 $ - $ - $ - $ - $ - $ - $ - $ - $ - Impact of ASU 2016-13 adoption 107 44 265 711 3,914 5 137 1 5,184 Provision (credit) (10) (44) 283 (35) 1,406 (3) (53) 3 1,547 Ending balance $ 97 $ - $ 548 $ 676 $ 5,320 $ 2 $ 84 $ 4 $ 6,731 (1) segment. (2) segment. As of September 30, 2022 Loan Segment and Collateral Description Amortized Cost of Collateral Dependent Loans Related Allowance for Credit Losses Amortized Cost of Collateral Dependent Loans with no related Allowance (Dollars in thousands) Commercial and Industrial All business assets $ 2,668 $ - $ 2,668 Commercial and Industrial Lines of Credit All business assets 5,519 - 5,519 Energy Oil and natural gas properties 9,626 157 9,469 Commercial Real Estate Commercial real estate properties 2,489 - 2,489 $ 20,302 $ 157 $ 20,145 As of December 31, 2021 Pass Special Mention Substandard Performing Substandard Non- performing Doubtful Loss Total (Dollars in thousands) Commercial and industrial $ 1,356,883 $ 16,201 $ 23,739 $ 4,858 $ - $ - $ 1,401,681 Energy 184,269 73,196 5,246 13,595 2,554 - 278,860 Commercial real estate 1,172,323 86,768 11,782 10,222 - - 1,281,095 Construction and land development 578,758 - - - - - 578,758 Residential and multifamily real estate 593,847 257 6,508 204 - - 600,816 PPP 64,805 - - - - - 64,805 Consumer 63,605 - - - - - 63,605 $ 4,014,490 $ 176,422 $ 47,275 $ 28,879 $ 2,554 $ - $ 4,269,620 As of December 31, 2021 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Total Past Due Current Total Loans Receivable Loans >= 90 Days and Accruing (Dollars in thousands) Commercial and industrial $ 183 $ 499 $ 1,037 $ 1,719 $ 1,399,962 $ 1,401,681 $ 90 Energy - - 4,644 4,644 274,216 278,860 - Commercial real estate 85 992 - 1,077 1,280,018 1,281,095 - Construction and land development 966 117 - 1,083 577,675 578,758 - Residential and multifamily real estate 437 151 - 588 600,228 600,816 - PPP - - - - 64,805 64,805 - Consumer - 99 - 99 63,506 63,605 - $ 1,671 $ 1,858 $ 5,681 $ 9,210 $ 4,260,410 $ 4,269,620 $ 90 December 31, 2021 (Dollars in thousands) Commercial and industrial $ 4,858 Energy 16,148 Commercial real estate 10,222 Construction and land development - Residential and multifamily real estate 204 PPP - Consumer - Total non-accrual loans $ 31,432 As of December 31, 2021 Commercial and Industrial Energy Commercial Real Estate Construction and Land Development Residential and Multifamily Real Estate PPP Consumer Total (Dollars in thousands) Period end allowance for loan losses allocated to: Individually evaluated for impairment $ 333 $ 2,100 $ 3,164 $ - $ - $ - $ - $ 5,597 Collectively evaluated for impairment 20,019 7,129 15,955 3,749 5,598 - 328 52,778 Ending balance $ 20,352 $ 9,229 $ 19,119 $ 3,749 $ 5,598 $ - $ 328 $ 58,375 Allocated to loans: Individually evaluated for impairment $ 5,739 $ 16,204 $ 31,597 $ - $ 3,387 $ - $ - $ 56,927 Collectively evaluated for impairment 1,395,942 262,656 1,249,498 578,758 597,429 64,805 63,605 4,212,693 Ending balance $ 1,401,681 $ 278,860 $ 1,281,095 $ 578,758 $ 600,816 $ 64,805 $ 63,605 $ 4,269,620 As of December 31, 2021 Recorded Balance Unpaid Principal Balance Specific Allowance (Dollars in thousands) Commercial and industrial $ 4,659 $ 4,740 $ - 3,509 7,322 - Commercial real estate 1,729 1,729 - - - - Residential and multifamily real estate 3,387 3,387 - - - - Consumer - - - Commercial and industrial 1,080 1,080 333 12,695 17,977 2,100 Commercial real estate 29,868 30,854 3,164 - - - Residential and multifamily real estate - - - - - - Consumer - - - Commercial and industrial 5,739 5,820 333 16,204 25,299 2,100 Commercial real estate 31,597 32,583 3,164 - - - Residential and multifamily real estate 3,387 3,387 - - - - Consumer - - - $ 56,927 $ 67,089 $ 5,597 Three Months Ended September 30, 2021 Commercial and Industrial Energy Commercial Real Estate Construction and Land Development Residential and Multifamily Real Estate PPP Consumer Total (Dollars in thousands) Allowance for loan losses: Beginning balance $ 28,433 $ 17,849 $ 19,181 $ 3,885 $ 5,826 $ - $ 319 $ 75,493 Provision (3,666) (4,798) (236) (694) (561) - (45) (10,000) Charge-offs (1,071) (503) - - - - (1) (1,575) Recoveries 225 - - - 5 - 4 234 Ending balance $ 23,921 $ 12,548 $ 18,945 $ 3,191 $ 5,270 $ - $ 277 $ 64,152 Nine Months Ended September 30, 2021 Commercial and Industrial Energy Commercial Real Estate Construction and Land Development Residential and Multifamily Real Estate PPP Consumer Total (Dollars in thousands) Allowance for loan losses: Beginning balance $ 24,693 $ 18,341 $ 22,354 $ 3,612 $ 5,842 $ - $ 453 $ 75,295 Provision 10,881 (5,290) (3,409) (421) (577) - (184) 1,000 Charge-offs (11,903) (503) - - - - (1) (12,407) Recoveries 250 - - - 5 - 9 264 Ending balance $ 23,921 $ 12,548 $ 18,945 $ 3,191 $ 5,270 $ - $ 277 $ 64,152 |
Derivatives and Hedging |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Derivatives and Hedging [Abstract] | |
Derivatives and Hedging | Note 5: The Company is exposed to certain risks arising from both its business operations and rate, liquidity, and exposures that arise from business activities that result in the receipt or payment of which are determined by interest rates. Cash Flow Hedges of Interest Rate Risk The Company uses interest rate derivatives to add stability to interest income rate movements. To management strategy. exchange for the Company making fixed-rate payments over the life amount. Interest rate collars designated as cash flow hedges involve cap strike rate on the contract and the receipt of variable-rate amounts During 2022, such derivatives were used to hedge the variable cash flows swaps that were entered into in 2021 were terminated during the third quarter instruments will start in 2023 based on the original effective dates collar during the third quarter of 2022. Derivatives designated and one notional amount of $ 250 five 100 December 31, 2021. For derivatives designated and that qualify as cash flow hedges of interest rate in Accumulated Other Comprehensive Income (Loss) (“AOCI”) and subsequently reclassified into interest same period(s) during which the hedged transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest income and expense as interest payments are received liabilities. The derivative financial instruments did not impact the Condensed Consolidated nine-month periods ended September 30, 2022. The Company estimates that less than $ 0.1 interest expense during the next twelve months. The Company is hedging its exposure to the variability in future cash flows for forecasted 6.6 Non-designated Hedges Derivatives not designated as hedges are not speculative and result from interest rate swaps with customers to facilitate their respective risk management hedged by offsetting derivatives that the Company executes with a third-party, resulting from such transactions. Interest rate derivatives associated requirements and changes in the fair value of both the customer derivatives earnings. Swap fees earned upon origination and credit valuation adjustments that represent on the Consolidated Statements of Income as swap fee income, net. The effect of the (loss) is reported on the Consolidated Statements of Cash Flows within “other These 48 54 409 535 31, 2021, respectively. Fair Values The table below presents the fair value of the Company’s derivative financial Consolidated Balance Sheets as of September 30, 2022 and December Asset Derivatives Liability Derivatives Balance Sheet September 30, December 31, Balance Sheet September 30, December 31, Location 2022 2021 Location 2022 2021 (Dollars in thousands) Interest rate products: Derivatives not designated as hedging instruments Interest receivable and Other assets $ 11,430 $ 11,305 Interest payable and other liabilities $ 11,431 $ 11,322 Derivatives designated as hedging instruments Other assets - 3 Interest payable and other liabilities 6,891 565 Total $ 11,430 $ 11,308 $ 18,322 $ 11,887 For the Three Months Ended For the Nine Months Ended September 30, 2022 September 30, 2022 Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Gain or (Loss) Recognized in OCI on Derivative Gain or (Loss) Recognized in OCI Included Component Gain or (Loss) Recognized in OCI Excluded Component Gain or (Loss) Recognized in OCI on Derivative Gain or (Loss) Recognized in OCI Included Component Gain or (Loss) Recognized in OCI Excluded Component (Dollars in thousands) Derivatives in Cash Flow Hedging Relationships: Interest Rate Products Interest Income $ (6,891) $ (6,891) $ - $ (6,891) $ (6,891) $ - Interest Rate Products Interest expense (185) (185) - 3,855 $ 3,855 - $ (7,076) $ (7,076) $ - $ (3,036) $ (3,036) $ - The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income three- 2021. |
Time Deposits and Borrowings |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Time Deposits and Borrowings [Abstract] | |
Time Deposits and Borrowings | Note 6: The scheduled maturities, excluding interest, of the Company’s borrowings at September 30, 2022 Within One Year One to Two Years Two to Three Years Three to Four Years Four to Five Years After Five Years Total (Dollars in thousands) Time deposits $ 487,378 $ 244,594 $ 673 $ 1,722 $ 15,804 $ - $ 750,171 FHLB borrowings 35,000 - - 5,100 - 97,500 137,600 FHLB line of credit 67,749 - - - - - 67,749 Trust preferred securities (1) - - - - - 1,048 1,048 $ 590,127 $ 244,594 $ 673 $ 6,822 $ 15,804 $ 98,548 $ 956,568 (1) The contract value of the trust preferred securities is $ 2.6 |
Change in Accumulated Other Comprehensive (Loss) Income |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Change in Accumulated Other Comprehensive Income (Loss) ("AOCI") [Abstract] | |
Change in Accumulated Other Comprehensive (Loss) Income | Note 7: Amounts reclassified from AOCI and the affected line items in the Condensed Consolidated Statements of Income three- Three Months Ended Nine Months Ended September 30, September 30, Affected Line Item in the 2022 2021 2022 2021 Statements of Income (Dollars in thousands) Unrealized gains (losses) on available-for-sale securities $ (4) $ 1,046 $ (43) $ 1,043 Gain (loss) on sale of available- for-sale securities Less: tax benefit effect (1) 256 (11) 255 Income tax expense (benefit) Net reclassified amount $ (3) $ 790 $ (32) $ 788 |
Regulatory Matters |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | Note 8: The Company and the Bank are subject to various regulatory capital requirements Failure to meet minimum capital requirements can initiate certain mandatory that, if undertaken, could have a direct material effect on the Company’s consolidated as of September 30, 2022, the Company and the Bank met all capital adequacy The capital rules require the Company to maintain a 2.5 % capital conservation buffer with respect to Common Equity Tier I capital, Tier I capital to risk-weighted assets, and total capital to risk-weighted assets, which Capital Required - Basel III” within the table below. A financial institution with a conservation buffer of less than the required amount is subject to limitations on capital distributions, including dividend payments and payments to executive officers. The Company and the Bank opted to exclude AOCI from the regulatory capital calculations. As a result, change in AOCI, including the recent decrease in the available-for-sale securities portfolio, net capital ratios. The Company’s and the Bank’s actual capital amounts and ratios as of September in the following table: Actual Minimum Capital Required - Basel III Required to be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) September 30, 2022 Total Capital to Risk-Weighted Assets Consolidated $ 728,639 12.1 % $ 632,742 10.5 % N/A Bank 712,631 11.8 632,414 10.5 $ 602,299 10.0 % Tier I Capital to Risk-Weighted Assets Consolidated 666,044 11.1 512,220 8.5 N/A N/A Bank 650,036 10.8 511,954 8.5 481,839 8.0 Common Equity Tier 1 to Risk-Weighted Assets Consolidated 664,997 11.0 421,828 7.0 N/A Bank 650,036 10.8 421,609 7.0 391,495 6.5 Tier I Capital to Average Assets Consolidated 666,044 11.4 233,086 4.0 N/A N/A Bank $ 650,036 11.2 % $ 233,019 4.0 % $ 291,274 5.0 % December 31, 2021 Total Capital to Risk-Weighted Assets Consolidated $ 704,544 13.6 % $ 544,060 10.5 % N/A N/A Bank 681,980 13.2 543,708 10.5 $ 517,817 10.0 % Tier I Capital to Risk-Weighted Assets Consolidated 646,169 12.5 440,430 8.5 N/A Bank 623,605 12.0 440,144 8.5 414,253 8.0 Common Equity Tier 1 to Risk-Weighted Assets Consolidated 645,160 12.5 362,707 7.0 N/A N/A Bank 623,605 12.0 362,472 7.0 336,581 6.5 Tier I Capital to Average Assets Consolidated 646,169 11.8 218,510 4.0 N/A Bank $ 623,605 11.4 % $ 218,366 4.0 % $ 272,958 5.0 % |
Stock-Based Compensation |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | Note 9: The Company issues stock-based compensation in the form of non-vested appreciation rights under the 2018 Omnibus Equity Incentive Plan (as amended, the tenth anniversary of its effective date. In addition, the Company third quarter of 2020. The aggregate number of shares authorized for future issuance under the 1,441,879 September 30, 2022. The table below summarizes the stock-based compensation for the 2021: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars in thousands) Stock appreciation rights $ 75 $ 150 $ 262 $ 584 Performance-based stock awards 200 75 611 337 Restricted stock units and awards 763 895 2,336 2,394 Employee stock purchase plan 31 29 95 58 Total stock-based compensation $ 1,069 $ 1,149 $ 3,304 $ 3,373 Performance-Based Restricted Stock Units The Company awards performance-based restricted stock units (“PBRSUs”) to based shares typically cliff-vest at the end of three years Compensation Committee. The ultimate number of shares issuable under each performance the award payout percentage given the level of achievement. The award payout percentages 0 % of target and 150 % of target. During the nine-month period ended September 30, 2022, the Company 66,667 include three year The following table summarizes the status of and changes in the performance Performance-Based Restricted Stock Unit Awards Number of Shares Weighted-Average Grant Date Fair Value Unvested, January 1, 2022 98,352 $ 13.59 Granted 66,667 16.04 Vested - - Forfeited (24,944) 15.03 Unvested, September 30, 2022 140,075 $ 14.51 Unrecognized stock-based compensation related to the performance 1 and is expected to be recognized over 2.1 Restricted Stock Units and Restricted Stock The Company issues time-based restricted stock units (“RSUs”) and restricted key officers, employees, and non-employee directors. Awards are typically granted annually as determined by Committee. The service-based RSUs typically vest in equal amounts over three years. The service-based one year . The following table summarizes the status of and changes in the RSUs and RSAs: Restricted Stock Units and Awards Number of Shares Weighted-Average Grant Date Fair Value Unvested, January 1, 2022 383,630 $ 13.52 Granted 259,627 14.97 Vested (197,536) 13.83 Forfeited (35,612) 14.22 Unvested, September 30, 2022 410,109 $ 14.22 Unrecognized stock-based compensation related to the RSUs and RSAs issued through 4 expected to be recognized over 1.9 |
Income Tax |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Income Tax [Abstract] | |
Income Tax | Note 10: An income tax expense reconciliation at the statutory rate to the Company’s actual Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars in thousands) Computed at the statutory rate ( 21 %) $ 4,555 $ 5,598 $ 13,078 $ 12,693 Increase (decrease) resulting from Tax-exempt income (903) (828) (2,647) (2,830) Non-deductible expenses 72 55 265 145 State income taxes 740 912 2,164 2,090 Equity based compensation (47) (40) (201) (157) Other adjustments (7) (37) (34) (110) Actual tax expense $ 4,410 $ 5,660 $ 12,625 $ 11,831 The tax effects of temporary differences related to deferred taxes located Balance Sheets are presented below: September 30, 2022 December 31, 2021 (Dollars in thousands) Deferred tax assets Net unrealized loss on securities available-for-sale $ 27,374 $ - Allowance for credit losses 15,067 14,051 Lease incentive 467 508 Loan fees 3,645 3,227 Accrued expenses 2,438 2,735 Deferred compensation 1,969 2,418 State tax credit - 1,033 Other 495 2,057 Total deferred tax asset 51,455 26,029 Deferred tax liability Net unrealized gain on securities available-for-sale - (6,967) FHLB stock basis (735) (757) Premises and equipment (2,209) (2,602) Other (1,410) (1,229) Total deferred tax liability (4,354) (11,555) Net deferred tax asset $ 47,101 $ 14,474 |
Disclosures about Fair Value of Financial Instruments |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Disclosures about Fair Value of Financial Instruments [Abstract] | |
Disclosures about Fair Value of Financial Instruments | Note 11: Fair value is the price that would be received to sell an asset or paid to transfer a liability market participants at the measurement date. Fair value measurements must of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair Level 1 Level 2 markets that are not active; or other inputs that are observable or can be corroborated substantially the full term of the assets or liabilities. Level 3 Recurring Measurements The following list presents the assets and liabilities recognized in the accompanying measured at fair value on a recurring basis and the level within the fair value September 30, 2022 and December 31, 2021: Non-recurring Measurements The following tables present assets measured at fair value on a non-recurring which the fair value measurements fall at September 30, 2022 and December Following is a description of the valuation methodologies and inputs used for basis and recognized in the accompanying Condensed Consolidated Balance Sheets. Collateral-Dependent Loans, Net of ACL The estimated fair value of collateral-dependent loans is based on the appraised sell. If the fair value of the collateral is below the loan’s amortized cost, the ACL is netted against the loan balance. Collateral-dependent loans are classified within Level 3 of the fair value hierarchy. The Company considers the appraisal or evaluation as the starting point for determining factors and events in the environment that may affect the fair value. Appraisals of the collateral underlying collateral dependent obtained when the loan is determined to be collateral dependent and subsequently Officer. Appraisals are reviewed for accuracy and consistency by management. Appraisers are selected from the list of approved appraisers maintained by management. The appraised values are reduced by discounts to cost to sell if repayment or satisfaction of the loan is dependent on the sale of the collateral. These discounts by the Office of the Chief Credit Officer by comparison to historical results. Foreclosed Assets Held-for-Sale The fair value of foreclosed assets-held-for-sale is based on the appraised fair value of Unobservable (Level 3) Inputs The following tables present quantitative information about unobservable measurements at September 30, 2022 and December 31, 2021: The following tables present the estimated fair values of the Company’s financial December 31, 2021: Fair Value Description Valuation Hierarchy Level Where Fair Value Balance Can Be Found Available-for- Sale Securities and CRA Equity Security Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Level 2 Note 3: Securities Derivatives Fair value of the interest rate swaps is obtained from independent pricing services based on quoted market prices for similar derivative contracts. Level 2 Note 5: Derivatives and Hedging September 30, 2022 Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (Dollars in thousands) Collateral-dependent loans $ 20,302 $ - $ - $ 20,302 Foreclosed assets held-for-sale $ 1,588 $ - $ - $ 1,588 December 31, 2021 Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (Dollars in thousands) Collateral-dependent impaired loans $ 38,046 $ - $ - $ 38,046 Foreclosed assets held-for-sale $ 1,148 $ - $ - $ 1,148 September 30, 2022 Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (Dollars in thousands) $ Market comparable properties Marketability discount - % - 100 % Collateral dependent loans 20,302 ( 21 )% $ Market comparable properties Marketability discount Foreclosed assets held-for-sale 1,588 ( 11 )% December 31, 2021 Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (Dollars in thousands) $ Market comparable properties Marketability discount 7 % - 100 % Collateral-dependent impaired loans 38,046 ( 26 )% $ Market comparable properties Marketability discount Foreclosed assets held-for-sale 1,148 ( 10 )% September 30, 2022 Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets Cash and cash equivalents $ 309,135 $ 309,135 $ - $ - Available-for-sale securities 656,527 - 656,527 - Loans, net of allowance for credit losses 4,621,782 - - 4,599,659 Restricted equity securities 9,277 - - 9,277 Interest receivable 20,553 - 20,553 - Equity securities 4,022 - 1,969 2,053 Derivative assets 11,430 - 11,430 - $ 5,632,726 $ 309,135 $ 690,479 $ 4,610,989 Financial Liabilities Deposits $ 4,987,515 $ 1,113,934 $ - $ 3,731,781 Federal Home Loan Bank line of credit 67,749 - 67,749 - Federal Home Loan Bank advances 137,600 - 130,684 - Other borrowings 1,048 - 1,875 - Interest payable 2,318 - 2,318 - Derivative liabilities 18,322 - 18,322 - $ 5,214,552 $ 1,113,934 $ 220,948 $ 3,731,781 December 31, 2021 Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets Cash and cash equivalents $ 482,727 $ 482,727 $ - $ - Available-for-sale securities 745,969 - 745,969 - Loans, net of allowance for loan losses 4,197,838 - - 4,178,268 Restricted equity securities 11,927 - - 11,927 Interest receivable 16,023 - 16,023 - Equity securities 2,642 - 2,209 433 Derivative assets 11,308 - 11,308 - $ 5,468,434 $ 482,727 $ 775,509 $ 4,190,628 Financial Liabilities Deposits $ 4,683,597 $ 1,163,224 $ - $ 3,482,218 Federal Home Loan Bank advances 236,600 - 241,981 - Other borrowings 1,009 - 2,318 - Interest payable 1,336 - 1,336 - Derivative liabilities 11,887 - 11,887 - $ 4,934,429 $ 1,163,224 $ 257,522 $ 3,482,218 |
Commitments and Credit Risk |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Commitments and Credit Risk [Abstract] | |
Commitments and Credit Risk | Note 12: Commitments The Company had the following commitments at September 30, 2022 September 30, 2022 December 31, 2021 (Dollars in thousands) Commitments to originate loans $ 353,783 $ 118,651 Standby letters of credit 56,791 51,114 Lines of credit 2,288,742 1,768,231 Future lease commitments - 11,100 Commitments related to investment fund 3,947 2,067 $ 2,703,263 $ 1,951,163 |
Legal and Regulatory Proceedings |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Legal and Regulatory Proceedings [Abstract] | |
Legal and Regulatory Proceedings | Note 13: We accrue estimates for resolution of any legal and other contingencies when accordance with ASC 450, Contingencies status of each significant matter underlying a legal proceeding or claim and establishes reserves for litigation-related matters when it is probable and the amount of the loss can be reasonably estimated. If the assessment indicates probable, but is reasonably possible, or is probable but cannot be estimated, estimate of the range of possible loss if determinable and material, would generally not disclosed unless they involve guarantees, in which case the nature judgment is required in both the determination of probability and the determination reasonably estimable, and accruals are based only on the information available which may prove to be incomplete or inaccurate or unanticipated events those estimates and assumptions. Furthermore, the outcome of legal proceedings defense costs and expenses defending any of these matters. Should any one or successful, or should we determine to settle any one or a combination of these become subject to the entry of an injunction or be forced to change the manner in material adverse impact on our business, results of operations, cash flows or financial The Company is subject to various legal proceedings and claims that arise primarily time, we do not believe the range of potential losses will have a material adverse effect on the operations and cash flows of the Company. |
Leases |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Leases [Abstract] | |
Leases | For the Three Months Ended September 30, 2022 For the Nine Months Ended September 30, 2022 (Dollars in thousands) Finance lease amortization of right-of-use asset $ 69 $ 161 Finance lease interest on lease liability 69 115 Operating lease expense 603 1,932 Variable lease expense 297 855 Short-term lease expense 5 15 Total lease expense $ 1,043 $ 3,078 Future minimum commitments due under these lease agreements as of Operating Leases Finance Lease (Dollars in thousands) Remainder of 2022 $ 762 $ 123 2023 3,070 490 2024 2,793 490 2025 2,804 490 2026 2,836 490 Thereafter 15,243 8,823 Total lease payments $ 27,508 $ 10,906 Less imputed interest 2,965 3,232 Total $ 24,543 $ 7,674 Supplemental cash flow information – Operating cash flows paid for operating lease amounts included in the measurement lease liabilities was $ 0.7 2.2 cash flows paid for finance lease amounts included in the measurement of 0.1 0.2 three- the Company did no t record any ROU assets that were exchanged for operating lease liabilities. Note 14: The Company’s leases primarily include bank branches located in Texas; and Phoenix, Arizona. The remaining lease terms on these branch leases range from less than one year twenty years certain options to renew. Renewal terms can extend the lease term between five years twenty years . The exercise of lease renewal options is at the Company’s sole discretion. When it is reasonably certain that the Company the lease term, that option is included in the estimated value of the right agreements do not contain any material residual value guarantees or material Company recognized one finance lease and the remaining Company Under ASC 842, a modified retrospective transition approach is required, applying the new standard to all leases existing at date of initial application. The Company chose to use the adoption date of January 1, 2022, for ASC 842. As such, all periods presented after January 1, 2022, are under ASC 842 whereas periods presented prior to January 1, 2022, are in accordance with prior accounting of ASC 840. Financial information was not updated, and the disclosures required under ASC 842 were not provided for dates and periods before January 1, 2022. The Company’s right to use an asset over the life of a lease is recorded as an ROU asset, is included Condensed Consolidated Balance Sheets and was $ 29 required for items such as initial direct costs paid or incentives received. The lease liability liabilities” on the Condensed Consolidated Balance Sheets of $ 32 The Company was unable to determine the implicit rate in the leases and used the incremental borrowing Company used the FHLB yield curve on the lease commencement date and remaining weighted-average lease term is 12.3 2.39 % as of September 30, 2022. The following table presents components of operating lease expense Income for the three- and nine-month periods ended September |
Stock Warrants |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Stock warrants [Abstract] | |
Stock Warrants | Note 15: During the nine-month period ended September 30, 2022, 33,500 5.00 33,500 The Company had 80,000 113,500 5.00 share as of September 30, 2022 and December 31, 2021, respectively. 80,000 |
Subsequent Events |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 16: On November 7, 2022, the Company announced its receipt of regulatory Corporation to complete the previously announced acquisition of Central Bancorp, Stockmens Bank (“F&S Bank”). satisfaction or waiver of customary closing conditions set forth in the agreement. |
Nature of Operations and Summary of Significant Accounting Policies (Policies) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Nature of Operations and Summary of Significant Accounting Policies [Abstract] | |
Organization and Nature of Operations | Organization and Nature of Operations CrossFirst Bankshares, Inc. (the “Company”) is a bank holding company whose principal activities management of its wholly-owned subsidiary, CrossFirst Bank (the three CrossFirst Investments, Inc. (“CFI”) that holds investments in marketable The Bank is primarily engaged in providing a full range of banking and financial through its branches in: (i) Leawood, Kansas; (ii) Wichita, Kansas; (iii) Kansas City, Missouri; Tulsa, Oklahoma; (vi) Dallas, Texas; (vii) Frisco, Texas; and (viii) Phoenix, Arizona. On June 13, 2022, the Company announced its entry into an agreement under Bank, the bank subsidiary of Central Bancorp, Inc. (collectively, Farmers referred as “Central”), for approximately $ 75 currently expected to close in the fourth quarter of 2022, subject to the satisfaction “Note 16: Subsequent Events” for further information about the acquisition. |
Basis of Presentation | Basis of Presentation The Company’s accounting and reporting policies conform to accounting (“GAAP”). The consolidated financial statements include the accounts of the Company, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated interim financial statements are unaudited. Certain accordance with GAAP have been condensed or omitted and should be read in conjunction with the Company’s statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December Form 10-K”), filed with the Securities and Exchange Commission (the “SEC”) on necessary for the fair presentation of the financial position, results of operations, financial statements have been prepared in accordance with GAAP for interim financial information and the instructions adopted by the SEC. Refer to the “accounting pronouncements implemented” below for significant changes to the Company’s accounting policies, other below, have occurred since December 31, 2021, the most recent date 2021 expected for a full year or any future period. |
Use of Estimates | Use of Estimates The Company identified accounting policies and estimates that, due assumptions inherent in those policies and estimates and the potential sensitivity judgments and assumptions, are critical to an understanding of the Company’s results could differ from those estimates. The allowance for credit losses, deferred particularly susceptible to significant change. |
Cash Equivalents | Cash Equivalents The Company had $ 205 2022. |
Emerging Growth Company (EGC) | Emerging Growth Company (“EGC”) The Company is currently an EGC. An EGC may take advantage of reduced reporting requirements and is relieved of certain other significant requirements that are otherwise generally applicable Company elected to extend the transition period for complying with new or revised This means that the financial statements the Company files or furnishes will not be generally applicable to public companies for the transition period for affirmatively and irrevocably opts out of the extended transition period |
Financial Instruments-Credit Losses | ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement Instruments: Background measured at amortized cost, including loans held-for-investment and Credit Loss (“CECL”) model requires an estimate of expected credit losses, measured that considers forecasts of future economic conditions in addition to information 2016-13 requires new disclosures, including the use of vintage In addition, ASU 2016-13 removes the available-for-sale (“AFS”) securities other-than-temporary-impairment model the cost basis of the investment and is replaced with an impairment model that available-for-sale securities. Implementation selection, implementation, and testing of third-party software. The Company used a loss-rate ("cohort") method to estimate the expected allowance The cohort method identifies and captures the balance of a pool of loans with similar in time to form a cohort, then tracks the respective losses generated by that cohort of loans over loans are “exhausted” (i.e., have reached an acceptable point in time at which expected to have been recognized). The cohort method closely aligned Company to take advantages of the efficiencies of processes and procedures already The Company began parallel processing with the existing allowance recalibrating inputs as necessary. The Company formulated changes to policies, procedures, were necessary to transition to the new standard. A third-party completed validation of the completeness, accuracy, and reasonableness of the model in the fourth quarter of 2021. Refer to additional information regarding the policies, procedures, and credit Impact of adoption disclosures as of and for the three- Financial Instruments-Credit Losses. The Company did not recast comparative disclosures under previously applicable GAAP. Because the Company deferred fees and costs. As a result, the Company transferred the previously disclosed unearned fees into the applicable loan segments. The Company used the prospective transition approach for AFS securities for which other-than-temporary-impairment recognized prior to January 1, 2022. As a result, the amortized cost basis remains the same before and after the effective date of ASU 2016-13. The following table illustrates the impact of adopting ASU 2016-13 and details how outstanding loan balances have been reclassified because of changes made to the Company’s loan segments under In connection with adoption of ASU 2016-13, changes were made to the Company’s loan segments to align with the methodology applied in determining the allowance under CECL. The commercial and industrial loan portfolio and lines of credit. In addition, the remaining Paycheck Protection Program (“PPP”) and industrial term loan segment due to their declining outstanding balance. multifamily real estate loan segments. Refer to “Note 4: Loans and Allowance for Credit Losses” for detail on the Accounting Policies: Accrued Interest - The Company made an accounting policy election to exclude accrued interest from the Company elected not to measure an allowance for credit losses for accrued policy exists. The policy generally requires loans to be placed on non-accrual due unless the loan is well-secured and in the process of collection. A well-secured loan means that collateral or a guaranty has sufficient value to pay off the loan in full. When a loan is placed on non-accrual, accrued income. The Company made a policy election to exclude accrued interest from are placed on non-accrual status when the Company no longer expects at 90 days past due. Accrued interest receivable is reversed against interest income when a security is placed on non-accrual status. Accordingly, the Company did not recognize an allowance for credit loss against accrued interest receivable. Available-for-sale Securities in an Unrealized Loss Position – For AFS securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more that it will be required to sell the security before recovery of its amortized cost basis. If requirement to sell is met, the securities’ amortized cost basis is written down to fair value through income. For AFS securities that do not meet the criteria above, the Company evaluates whether the decline other factors. Management considers the extent to which fair value is less than amortized security by a rating agency, and adverse conditions specifically related to If this assessment indicates that a credit loss exists, the present value of cash flows compared to the amortized cost basis of the security. If the present value of amortized cost basis, a credit loss exists and an allowance for credit losses is recorded that the fair value is less than amortized cost basis. January 1, 2022 As Reported under ASU 2016-13 Pre-ASU 2016-13 Impact of ASU 2016-13 Adoption (Dollars in thousands) Assets: Loans (outstanding balance) Commercial and Industrial $ 843,024 $ 1,401,681 $ (558,657) Commercial and Industrial lines of credit 617,398 - 617,398 Energy 278,579 278,860 (281) Commercial real estate 1,278,479 1,281,095 (2,616) Construction and land development 574,852 578,758 (3,906) Residential real estate 360,046 600,816 (240,770) Multifamily real estate 240,230 - 240,230 PPP - 64,805 (64,805) Consumer 63,605 63,605 - Gross Loans 4,256,213 4,269,620 (13,407) Net deferred loan fees and costs - 13,407 (13,407) Allowance for credit losses on loans 56,628 58,375 (1,747) Loans, net of the allowance for credit losses on loans 4,199,585 4,197,838 1,747 Deferred tax asset $ 13,647 $ 14,474 $ (827) Liabilities Allowance for credit losses on off-balance sheet exposures $ 5,184 $ - $ 5,184 Stockholders' equity Retained earnings $ 144,489 $ 147,099 $ (2,610) |
Leases | ASU 2016-02, Leases (Topic 842): Background such leases. This represents a change from previous GAAP that did not require operating leases to be recognized on the lessees’ balance sheet. The purpose agreements. On the lease commencement date (or on the date of adoption), a lessee is required the present value of the remaining lease payments, discounted using an appropriate is recorded that consists of the initial measurement of the lease liability adjusted for received and initial direct costs. For operating leases, after lease commencement, the lease liability is reported discounted using the discount rate established at lease commencement. The lease payments in the lease term and lease incentives not yet recognized. The sum is then the lease term. The right-of-use asset is amortized as the difference between liability. Implementation properties located in the Kansas City, Missouri; Tulsa, Oklahoma; Dallas, Texas; Frisco, Texas; and Phoenix, Arizona markets. The remaining lease terms range from two to twenty years with potential renewal terms including fixed payments with annual increases to variable payments. incentives. The discount rates were not readily determinable in the lease agreements. As a result, the Company used the incremental borrowing rate in accordance with Topic 842. The Company used the Federal Home Loan Bank (“FHLB”) incremental borrowing rate. The Company elected several practical expedients that are listed below: Impact of Adoption Company did not recast comparative financial periods and has presented The following table illustrates the impact of adopting ASU 2016-02 on the Company’s financial statements: January 1, 2022 As Reported under ASU 2016-02 Pre-ASU 2016-02 Impact of ASU 2016-02 Adoption (Dollars in thousands) Assets: Right-of-use asset $ 23,589 $ - $ 23,589 Liabilities: Lease incentive - 2,125 (2,125) Accrued rent payable - 904 (904) Lease liability $ 26,618 $ - $ 26,618 Practical Expedient Elected Impact to Lease Accounting Implementation An entity need not reassess whether any expired or existing contracts are or contain leases. The Company was not required to re-evaluate previously identified leases, including embedded leases, that existed as of the adoption date. An entity need not reassess the lease classification for an expired or existing leases. The Company was not required to re-classify previously identified operating leases that existed as of the adoption date. The Company did not have any capital leases as of December 31, 2021. An entity need not reassess initial direct costs for any existing leases. The Company was not required to review previously established lease agreements as of the adoption date for initial direct costs. Initial direct costs increase the right-of-use asset and do not impact the lease liability. An entity may combine lease and non-lease components. If not elected, the Company would be required to allocate the total consideration in a lease contract to lease and non-lease components based their relative standalone price. The election results in higher right-of-use assets and lease liabilities. Short-term lease exemption. The Company is not required to record a right-of-use asset and lease liability for a lease whose term is 12 months or less and does not include a purchase option that the lessee is reasonably certain to exercise. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Background gross write-offs. The update eliminates the accounting guidance for TDRs and requires a company to results in a new loan or a continuation of an existing loan. The update enhances the required made to borrowers experiencing financial difficulty. In addition, the update requires disclosure of current-period gross charge For the Company, the amendments are effective as of January 1, 2023, but early the beginning of the fiscal year of adoption. Impact of adoption impact cannot be established. |
Nature of Operations and Summary of Significant Accounting Policies (Tables) |
9 Months Ended |
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Sep. 30, 2022 | |
Nature of Operations and Summary of Significant Accounting Policies [Abstract] | |
Schedule of Accounting Pronouncements Adopted and Not Yet Adopted | January 1, 2022 As Reported under ASU 2016-13 Pre-ASU 2016-13 Impact of ASU 2016-13 Adoption (Dollars in thousands) Assets: Loans (outstanding balance) Commercial and Industrial $ 843,024 $ 1,401,681 $ (558,657) Commercial and Industrial lines of credit 617,398 - 617,398 Energy 278,579 278,860 (281) Commercial real estate 1,278,479 1,281,095 (2,616) Construction and land development 574,852 578,758 (3,906) Residential real estate 360,046 600,816 (240,770) Multifamily real estate 240,230 - 240,230 PPP - 64,805 (64,805) Consumer 63,605 63,605 - Gross Loans 4,256,213 4,269,620 (13,407) Net deferred loan fees and costs - 13,407 (13,407) Allowance for credit losses on loans 56,628 58,375 (1,747) Loans, net of the allowance for credit losses on loans 4,199,585 4,197,838 1,747 Deferred tax asset $ 13,647 $ 14,474 $ (827) Liabilities Allowance for credit losses on off-balance sheet exposures $ 5,184 $ - $ 5,184 Stockholders' equity Retained earnings $ 144,489 $ 147,099 $ (2,610) January 1, 2022 As Reported under ASU 2016-02 Pre-ASU 2016-02 Impact of ASU 2016-02 Adoption (Dollars in thousands) Assets: Right-of-use asset $ 23,589 $ - $ 23,589 Liabilities: Lease incentive - 2,125 (2,125) Accrued rent payable - 904 (904) Lease liability $ 26,618 $ - $ 26,618 |
Earnings Per Share (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings (Loss) Per Share, Basic and Diluted | Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars in thousands except per share data) Earnings per Share Net income available to common stockholders $ 17,280 $ 21,000 $ 49,653 $ 48,612 Weighted average common shares 49,266,811 50,990,113 49,755,184 51,368,957 Earnings per share $ 0.35 $ 0.41 $ 1.00 $ 0.95 Diluted Earnings per Share Net income available to common stockholders $ 17,280 $ 21,000 $ 49,653 $ 48,612 Weighted average common shares 49,266,811 50,990,113 49,755,184 51,368,957 Effect of dilutive shares 454,682 615,608 525,409 699,257 Weighted average dilutive common shares 49,721,493 51,605,721 50,280,593 52,068,214 Diluted earnings per share $ 0.35 $ 0.41 $ 0.99 $ 0.93 Stock-based awards not included because to do so would be antidilutive 529,336 587,200 334,725 657,887 |
Securities (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation | September 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Approximate Fair Value (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential $ 178,287 $ - $ 27,761 $ 150,526 Collateralized mortgage obligations - GSE residential 12,489 - 752 11,737 State and political subdivisions 568,863 299 79,696 489,466 Corporate bonds 5,110 13 325 4,798 Total available-for-sale securities $ 764,749 $ 312 $ 108,534 $ 656,527 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Approximate Fair Value (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential $ 161,675 $ 1,809 $ 1,774 $ 161,710 Collateralized mortgage obligations - GSE residential 18,130 311 10 18,431 State and political subdivisions 532,906 29,329 767 561,468 Corporate bonds 4,241 119 - 4,360 Total available-for-sale securities $ 716,952 $ 31,568 $ 2,551 $ 745,969 |
Investments Classified by Contractual Maturity Date | September 30, 2022 Within After One to After Five to After One Year Five Years Ten Years Ten Years Total (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential (1) Amortized cost $ - $ 24 $ 105 $ 178,158 $ 178,287 Estimated fair value $ - $ 23 $ 101 $ 150,402 $ 150,526 Weighted average yield (2) - % 4.78 % 4.01 % 2.06 % 2.06 % Collateralized mortgage obligations - GSE residential (1) Amortized cost $ - $ - $ 2,365 $ 10,124 $ 12,489 Estimated fair value $ - $ - $ 2,241 $ 9,496 $ 11,737 Weighted average yield (2) - % - % 2.77 % 2.27 % 2.37 % State and political subdivisions Amortized cost $ 1,127 $ 5,028 $ 112,642 $ 450,066 $ 568,863 Estimated fair value $ 1,131 $ 5,070 $ 110,310 $ 372,955 $ 489,466 Weighted average yield (2) 3.37 % 3.88 % 3.26 % 2.73 % 2.85 % Corporate bonds Amortized cost $ - $ 498 $ 4,612 $ - $ 5,110 Estimated fair value $ - $ 501 $ 4,297 $ - $ 4,798 Weighted average yield (2) - % 6.22 % 4.31 % - % 4.49 % Total available-for-sale securities Amortized cost $ 1,127 $ 5,550 $ 119,724 $ 638,348 $ 764,749 Estimated fair value $ 1,131 $ 5,594 $ 116,949 $ 532,853 $ 656,527 Weighted average yield (2) 3.37 % 4.09 % 3.29 % 2.53 % 2.66 % Actual maturities may differ from contractual maturities because issuers may have without prepayment penalties. (2) Yields are calculated based on amortized cost. |
Schedule of Unrealized Loss on Investments | September 30, 2022 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential $ 104,743 $ 16,106 43 $ 45,783 $ 11,655 14 $ 150,526 $ 27,761 57 Collateralized mortgage obligations - GSE residential 11,430 740 18 307 12 1 11,737 752 19 State and political subdivisions 410,905 55,588 344 48,255 24,108 39 459,160 79,696 383 Corporate bonds 4,535 325 4 - - - 4,535 325 4 Total temporarily impaired securities $ 531,613 $ 72,759 409 $ 94,345 $ 35,775 54 $ 625,958 $ 108,534 463 December 31, 2021 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Number of Securities (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential $ 87,306 $ 1,774 16 $ - $ - - $ 87,306 $ 1,774 16 Collateralized mortgage obligations - GSE residential 803 10 2 - - - 803 10 2 State and political subdivisions 72,915 762 39 1,310 5 4 74,225 767 43 Corporate bonds - - - - - - - - - Total temporarily impaired securities $ 161,024 $ 2,546 57 $ 1,310 $ 5 4 $ 162,334 $ 2,551 61 |
Available-for-sale, Net Realized Gain | For the Three Months Ended For the Nine Months Ended September 30, 2022 September 30, 2022 Gross Realized Gains Gross Realized Losses Net Realized Loss Gross Realized Gains Gross Realized Losses Net Realized Loss (Dollars in thousands) Available-for-sale securities $ 1 $ (5) $ (4) $ 3 $ (46) $ (43) For the Three Months Ended For the Nine Months Ended September 30, 2021 September 30, 2021 Gross Realized Gains Gross Realized Losses Net Realized Loss Gross Realized Gains Gross Realized Losses Net Realized Loss (Dollars in thousands) Available-for-sale securities $ 1,125 $ (79) $ 1,046 $ 1,151 $ (108) $ 1,043 |
Gain (Loss) on Securities | Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars in thousands) Net gains (losses) recognized during the reporting period on equity securities $ (87) $ (6,210) $ (261) $ (6,243) Less: net gains recognized during the reporting period on equity securities sold during the reporting period - - - - Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date $ (87) $ (6,210) $ (261) $ (6,243) |
Loans and Allowance for Loan Losses ("ALLL") (Tables) |
9 Months Ended |
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Sep. 30, 2022 | |
Loans and Allowance for Loan Losses ("ALLL") [Abstract] | |
Category of Loans | September 30, 2022 December 31, 2021 (Dollars in thousands) Commercial and industrial $ 857,836 $ 843,024 Commercial and industrial lines of credit 831,187 617,398 Energy 178,855 278,579 Commercial real estate 1,400,338 1,278,479 Construction and land development 674,041 574,852 Residential real estate 393,867 360,046 Multifamily real estate 275,795 240,230 Consumer 65,727 63,605 Loans, net of unearned fees 4,677,646 4,256,213 Less: allowance for credit losses (1) 55,864 58,375 Loans, net $ 4,621,782 $ 4,197,838 (1) Operations and Summary of Significant Accounting Policies.” |
Loans, Company's Loan Portfolio Internal Rating Categories Loan Segments | As of September 30, 2022 Amortized Cost Basis by Origination Year and Internal Risk Rating Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving Loans Revolving Loans converted to Term Loans Total (Dollars in thousands) Commercial and industrial Pass $ 285,880 $ 287,991 $ 70,591 $ 55,167 $ 55,665 $ 21,134 $ - $ 30,392 $ 806,820 Special mention 1,283 2,241 12,063 996 302 112 - 6,501 23,498 Substandard - accrual - 455 1,485 2,165 758 46 - 20,416 25,325 Substandard - non- accrual - 104 - 6 1,383 700 - - 2,193 Doubtful - - - - - - - - - Total $ 287,163 $ 290,791 $ 84,139 $ 58,334 $ 58,108 $ 21,992 $ - $ 57,309 $ 857,836 Commercial and industrial Pass $ - $ - $ - $ - $ - $ - $ 780,710 $ - $ 780,710 Special mention - - - - - - 32,814 - 32,814 Substandard - accrual - - - - - - 11,188 - 11,188 Substandard - non- accrual - - - - - - 6,475 - 6,475 Doubtful - - - - - - - - - Total $ - $ - $ - $ - $ - $ - $ 831,187 $ - $ 831,187 Energy Pass $ 7,446 $ 403 $ 246 $ - $ 7 $ - $ 156,119 $ 188 $ 164,409 Special mention - - - - - - 7,152 - 7,152 Substandard - accrual - - - - - - 2,131 - 2,131 Substandard - non- accrual - - - - - - 3,375 - 3,375 Doubtful - - - - - - 1,788 - 1,788 Total $ 7,446 $ 403 $ 246 $ - $ 7 $ - $ 170,565 $ 188 $ 178,855 As of September 30, 2022 Amortized Cost Basis by Origination Year and Internal Risk Rating Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving Loans Revolving Loans converted to Term Loans Total (Dollars in thousands) Commercial real estate Pass $ 270,669 $ 259,299 $ 145,530 $ 110,155 $ 67,990 $ 74,465 $ 293,169 $ 98,783 $ 1,320,060 Special mention 11,927 9,870 - 422 6,280 290 2,420 33,086 64,295 Substandard - accrual 10,535 - 327 - - 1,232 - 992 13,086 Substandard - non- accrual 408 2,489 - - - - - - 2,897 Doubtful - - - - - - - - - Total $ 293,539 $ 271,658 $ 145,857 $ 110,577 $ 74,270 $ 75,987 $ 295,589 $ 132,861 $ 1,400,338 Construction and land development Pass $ 205,062 $ 290,753 $ 126,364 $ 24,323 $ 3,663 $ 1,367 $ 14,679 $ - $ 666,211 Special mention - 7,830 - - - - - - 7,830 Substandard - accrual - - - - - - - - - Substandard - non- accrual - - - - - - - - - Doubtful - - - - - - - - - Total $ 205,062 $ 298,583 $ 126,364 $ 24,323 $ 3,663 $ 1,367 $ 14,679 $ - $ 674,041 Residential real estate Pass $ 64,540 $ 79,235 $ 120,891 $ 46,023 $ 38,417 $ 35,590 $ 1,894 $ - $ 386,590 Special mention 253 3,290 - 231 - - - - 3,774 Substandard - accrual 142 - 3,166 - - - - - 3,308 Substandard - non- accrual - - - - - - - 195 195 Doubtful - - - - - - - - - Total $ 64,935 $ 82,525 $ 124,057 $ 46,254 $ 38,417 $ 35,590 $ 1,894 $ 195 $ 393,867 As of September 30, 2022 Amortized Cost Basis by Origination Year and Internal Risk Rating Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving Loans Revolving Loans converted to Term Loans Total (Dollars in thousands) Multifamily real estate Pass $ 78,194 $ 33,272 $ 5,363 $ 12,005 $ 3,078 $ 822 $ 126,518 $ 16,506 $ 275,758 Special mention - - - - - - - 37 37 Substandard - accrual - - - - - - - - - Substandard - non- accrual - - - - - - - - - Doubtful - - - - - - - - - Total $ 78,194 $ 33,272 $ 5,363 $ 12,005 $ 3,078 $ 822 $ 126,518 $ 16,543 $ 275,795 Consumer Pass $ 11,629 $ 2,512 $ 1,914 $ 221 $ 110 $ 30 $ 49,311 $ - $ 65,727 Special mention - - - - - - - - - Substandard - accrual - - - - - - - - - Substandard - non- accrual - - - - - - - - - Doubtful - - - - - - - - - Total $ 11,629 $ 2,512 $ 1,914 $ 221 $ 110 $ 30 $ 49,311 $ - $ 65,727 Total Pass $ 923,420 $ 953,465 $ 470,899 $ 247,894 $ 168,930 $ 133,408 $ 1,422,400 $ 145,869 $ 4,466,285 Special mention 13,463 23,231 12,063 1,649 6,582 402 42,386 39,624 139,400 Substandard - accrual 10,677 455 4,978 2,165 758 1,278 13,319 21,408 55,038 Substandard - non- accrual 408 2,593 - 6 1,383 700 9,850 195 15,135 Doubtful - - - - - - 1,788 - 1,788 Total $ 947,968 $ 979,744 $ 487,940 $ 251,714 $ 177,653 $ 135,788 $ 1,489,743 $ 207,096 $ 4,677,646 As of December 31, 2021 Pass Special Mention Substandard Performing Substandard Non- performing Doubtful Loss Total (Dollars in thousands) Commercial and industrial $ 1,356,883 $ 16,201 $ 23,739 $ 4,858 $ - $ - $ 1,401,681 Energy 184,269 73,196 5,246 13,595 2,554 - 278,860 Commercial real estate 1,172,323 86,768 11,782 10,222 - - 1,281,095 Construction and land development 578,758 - - - - - 578,758 Residential and multifamily real estate 593,847 257 6,508 204 - - 600,816 PPP 64,805 - - - - - 64,805 Consumer 63,605 - - - - - 63,605 $ 4,014,490 $ 176,422 $ 47,275 $ 28,879 $ 2,554 $ - $ 4,269,620 |
Loans, Loan Aging Analysis | As of September 30, 2022 Amortized Cost Basis by Origination Year and Past Due Status Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Revolving loans converted to term loans Total (Dollars in thousands) Commercial and industrial 30-59 days $ 600 $ - $ - $ 15 $ - $ - $ - $ - $ 615 60-89 days - - - - - - - - - Greater than 90 days - 124 7 75 1,383 655 - - 2,244 Total past due 600 124 7 90 1,383 655 - - 2,859 Current 286,563 290,667 84,132 58,244 56,725 21,337 - 57,309 854,977 Total $ 287,163 $ 290,791 $ 84,139 $ 58,334 $ 58,108 $ 21,992 $ - $ 57,309 $ 857,836 Greater than 90 days and accruing $ - $ 20 $ 7 $ 73 $ - $ - $ - $ - $ 100 Commercial and industrial lines of credit 30-59 days $ - $ - $ - $ - $ - $ - $ 3,796 $ - $ 3,796 60-89 days - - - - - - - - - Greater than 90 days - - - - - - 1,568 - 1,568 Total past due - - - - - - 5,364 - 5,364 Current - - - - - - 825,823 - 825,823 Total $ - $ - $ - $ - $ - $ - $ 831,187 $ - $ 831,187 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ 83 $ - $ 83 Energy 30-59 days $ - $ - $ - $ - $ - $ - $ - $ - $ - 60-89 days - - - - - - - - - Greater than 90 days - - - - - - 5,163 - 5,163 Total past due - - - - - - 5,163 - 5,163 Current 7,446 403 246 - 7 - 165,402 188 173,692 Total $ 7,446 $ 403 $ 246 $ - $ 7 $ - $ 170,565 $ 188 $ 178,855 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - As of September 30, 2022 Amortized Cost Basis by Origination Year and Past Due Status Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Revolving loans converted to term loans Total (Dollars in thousands) Commercial real estate 30-59 days $ 408 $ - $ - $ - $ - $ 195 $ - $ - $ 603 60-89 days - - - - - 1,032 - - 1,032 Greater than 90 days - - - - - - - - - Total past due 408 - - - - 1,227 - - 1,635 Current 293,131 271,658 145,857 110,577 74,270 74,760 295,589 132,861 1,398,703 Total $ 293,539 $ 271,658 $ 145,857 $ 110,577 $ 74,270 $ 75,987 $ 295,589 $ 132,861 $ 1,400,338 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - Construction and land development 30-59 days $ - $ - $ - $ - $ - $ - $ 10,629 $ - $ 10,629 60-89 days - - - - - - - - - Greater than 90 days - - - - - - - - - Total past due - - - - - - 10,629 - 10,629 Current 205,062 298,583 126,364 24,323 3,663 1,367 4,050 - 663,412 Total $ 205,062 $ 298,583 $ 126,364 $ 24,323 $ 3,663 $ 1,367 $ 14,679 $ - $ 674,041 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential real estate 30-59 days $ 142 $ - $ - $ - $ - $ - $ - $ - $ 142 60-89 days - - - - - - - - - Greater than 90 days - 120 - - - - - - 120 Total past due 142 120 - - - - - - 262 Current 64,793 82,405 124,057 46,254 38,417 35,590 1,894 195 393,605 Total $ 64,935 $ 82,525 $ 124,057 $ 46,254 $ 38,417 $ 35,590 $ 1,894 $ 195 $ 393,867 Greater than 90 days and accruing $ - $ 120 $ - $ - $ - $ - $ - $ - $ 120 As of September 30, 2022 Amortized Cost Basis by Origination Year and Past Due Status Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Revolving loans converted to term loans Total (Dollars in thousands) Multifamily real estate 30-59 days $ - $ - $ - $ - $ - $ - $ - $ - $ - 60-89 days 4,566 - - - - - - - 4,566 Greater than 90 days - - - - - - - - - Total past due 4,566 - - - - - - - 4,566 Current 73,628 33,272 5,363 12,005 3,078 822 126,518 16,543 271,229 Total $ 78,194 $ 33,272 $ 5,363 $ 12,005 $ 3,078 $ 822 $ 126,518 $ 16,543 $ 275,795 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer 30-59 days $ - $ - $ - $ - $ - $ - $ - $ - $ - 60-89 days - - - - - - - - - Greater than 90 days - - - - - - - - - Total past due - - - - - - - - - Current 11,629 2,512 1,914 221 110 30 49,311 - 65,727 Total $ 11,629 $ 2,512 $ 1,914 $ 221 $ 110 $ 30 $ 49,311 $ - $ 65,727 Greater than 90 days and accruing $ - $ - $ - $ - $ - $ - $ - $ - $ - Total 30-59 days $ 1,150 $ - $ - $ 15 $ - $ 195 $ 14,425 $ - $ 15,785 60-89 days 4,566 - - - - 1,032 - - 5,598 Greater than 90 days - 244 7 75 1,383 655 6,731 - 9,095 Total past due 5,716 244 7 90 1,383 1,882 21,156 - 30,478 Current 942,252 979,500 487,933 251,624 176,270 133,906 1,468,587 207,096 4,647,168 Total $ 947,968 $ 979,744 $ 487,940 $ 251,714 $ 177,653 $ 135,788 $ 1,489,743 $ 207,096 $ 4,677,646 Greater than 90 days and accruing $ - $ 140 $ 7 $ 73 $ - $ - $ 83 $ - $ 303 As of December 31, 2021 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Total Past Due Current Total Loans Receivable Loans >= 90 Days and Accruing (Dollars in thousands) Commercial and industrial $ 183 $ 499 $ 1,037 $ 1,719 $ 1,399,962 $ 1,401,681 $ 90 Energy - - 4,644 4,644 274,216 278,860 - Commercial real estate 85 992 - 1,077 1,280,018 1,281,095 - Construction and land development 966 117 - 1,083 577,675 578,758 - Residential and multifamily real estate 437 151 - 588 600,228 600,816 - PPP - - - - 64,805 64,805 - Consumer - 99 - 99 63,506 63,605 - $ 1,671 $ 1,858 $ 5,681 $ 9,210 $ 4,260,410 $ 4,269,620 $ 90 |
Loans, Nonaccrual | As of September 30, 2022 Amortized Cost Basis by Origination Year and On Non-accrual Amortized Cost Basis 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Revolving loans converted to term loans Total Non- accrual Loans Non-accrual Loans with no related Allowance (Dollars in thousands) Commercial and industrial $ - $ 104 $ - $ 6 $ 1,383 $ 700 $ - $ - $ 2,193 $ 2,193 Commercial and industrial lines of credit - - - - - - 6,475 - 6,475 6,475 Energy - - - - - - 5,163 - 5,163 3,587 Commercial real estate 408 2,489 - - - - - - 2,897 2,897 Construction and land development - - - - - - - - - - Residential real estate - - - - - - - 195 195 195 Multifamily real estate - - - - - - - - - - Consumer - - - - - - - - - - Total $ 408 $ 2,593 $ - $ 6 $ 1,383 $ 700 $ 11,638 $ 195 $ 16,923 $ 15,347 December 31, 2021 (Dollars in thousands) Commercial and industrial $ 4,858 Energy 16,148 Commercial real estate 10,222 Construction and land development - Residential and multifamily real estate 204 PPP - Consumer - Total non-accrual loans $ 31,432 |
Loans, Allowance for Credit Losses | For the Three Months Ended September 30, 2022 Commercial and Industrial Commercial and Industrial Lines of Credit Energy Commercial Real Estate Construction and Land Development Residential Real Estate Multifamily Real Estate Consumer Total (Dollars in thousands) Allowance for Credit Losses: Beginning balance $ 10,920 $ 11,267 $ 6,428 $ 17,042 $ 3,918 $ 3,134 $ 2,427 $ 681 $ 55,817 Charge-offs - (2,000) (642) - - - - - (2,642) Recoveries - 9 - 748 - - - 9 766 Provision (credit) 417 2,781 (958) (1,335) 669 103 246 - 1,923 Ending balance $ 11,337 $ 12,057 $ 4,828 $ 16,455 $ 4,587 $ 3,237 $ 2,673 $ 690 $ 55,864 Allowance for Credit Losses on Off-Balance Sheet Credit Exposures: Beginning balance $ 63 $ - $ 470 $ 657 $ 4,016 $ 4 $ 109 $ 1 $ 5,320 Provision (credit) 34 - 78 19 1,304 (2) (25) 3 1,411 Ending balance $ 97 $ - $ 548 $ 676 $ 5,320 $ 2 $ 84 $ 4 $ 6,731 For the Nine Months Ended September 30, 2022 Commercial and Industrial (1) Commercial and Industrial Lines of Credit (1) Energy Commercial Real Estate Construction and Land Development Residential Real Estate (2) Multifamily Real Estate (2) Consumer Total (Dollars in thousands) Allowance for Credit Losses: Beginning balance, prior to adoption of ASU 2016-13 $ 20,352 $ - $ 9,229 $ 19,119 $ 3,749 $ 5,598 $ - $ 328 $ 58,375 Impact of ASU 2016-13 adoption (10,213) 8,866 (39) (186) (83) (2,552) 2,465 (5) (1,747) Charge-offs (790) (3,971) (4,609) (1,102) - (217) - (13) (10,702) Recoveries 755 1,788 1,754 2,333 - - - 11 6,641 Provision (credit) 1,233 5,374 (1,507) (3,709) 921 408 208 369 3,297 Ending balance $ 11,337 $ 12,057 $ 4,828 $ 16,455 $ 4,587 $ 3,237 $ 2,673 $ 690 $ 55,864 Allowance for Credit Losses on Off-Balance Sheet Credit Exposures: Beginning balance, prior to adoption of ASU 2016-13 $ - $ - $ - $ - $ - $ - $ - $ - $ - Impact of ASU 2016-13 adoption 107 44 265 711 3,914 5 137 1 5,184 Provision (credit) (10) (44) 283 (35) 1,406 (3) (53) 3 1,547 Ending balance $ 97 $ - $ 548 $ 676 $ 5,320 $ 2 $ 84 $ 4 $ 6,731 (1) segment. (2) segment. Three Months Ended September 30, 2021 Commercial and Industrial Energy Commercial Real Estate Construction and Land Development Residential and Multifamily Real Estate PPP Consumer Total (Dollars in thousands) Allowance for loan losses: Beginning balance $ 28,433 $ 17,849 $ 19,181 $ 3,885 $ 5,826 $ - $ 319 $ 75,493 Provision (3,666) (4,798) (236) (694) (561) - (45) (10,000) Charge-offs (1,071) (503) - - - - (1) (1,575) Recoveries 225 - - - 5 - 4 234 Ending balance $ 23,921 $ 12,548 $ 18,945 $ 3,191 $ 5,270 $ - $ 277 $ 64,152 Nine Months Ended September 30, 2021 Commercial and Industrial Energy Commercial Real Estate Construction and Land Development Residential and Multifamily Real Estate PPP Consumer Total (Dollars in thousands) Allowance for loan losses: Beginning balance $ 24,693 $ 18,341 $ 22,354 $ 3,612 $ 5,842 $ - $ 453 $ 75,295 Provision 10,881 (5,290) (3,409) (421) (577) - (184) 1,000 Charge-offs (11,903) (503) - - - - (1) (12,407) Recoveries 250 - - - 5 - 9 264 Ending balance $ 23,921 $ 12,548 $ 18,945 $ 3,191 $ 5,270 $ - $ 277 $ 64,152 |
Loans, Collateral Dependent Loans | As of September 30, 2022 Loan Segment and Collateral Description Amortized Cost of Collateral Dependent Loans Related Allowance for Credit Losses Amortized Cost of Collateral Dependent Loans with no related Allowance (Dollars in thousands) Commercial and Industrial All business assets $ 2,668 $ - $ 2,668 Commercial and Industrial Lines of Credit All business assets 5,519 - 5,519 Energy Oil and natural gas properties 9,626 157 9,469 Commercial Real Estate Commercial real estate properties 2,489 - 2,489 $ 20,302 $ 157 $ 20,145 As of December 31, 2021 Commercial and Industrial Energy Commercial Real Estate Construction and Land Development Residential and Multifamily Real Estate PPP Consumer Total (Dollars in thousands) Period end allowance for loan losses allocated to: Individually evaluated for impairment $ 333 $ 2,100 $ 3,164 $ - $ - $ - $ - $ 5,597 Collectively evaluated for impairment 20,019 7,129 15,955 3,749 5,598 - 328 52,778 Ending balance $ 20,352 $ 9,229 $ 19,119 $ 3,749 $ 5,598 $ - $ 328 $ 58,375 Allocated to loans: Individually evaluated for impairment $ 5,739 $ 16,204 $ 31,597 $ - $ 3,387 $ - $ - $ 56,927 Collectively evaluated for impairment 1,395,942 262,656 1,249,498 578,758 597,429 64,805 63,605 4,212,693 Ending balance $ 1,401,681 $ 278,860 $ 1,281,095 $ 578,758 $ 600,816 $ 64,805 $ 63,605 $ 4,269,620 As of December 31, 2021 Recorded Balance Unpaid Principal Balance Specific Allowance (Dollars in thousands) Commercial and industrial $ 4,659 $ 4,740 $ - 3,509 7,322 - Commercial real estate 1,729 1,729 - - - - Residential and multifamily real estate 3,387 3,387 - - - - Consumer - - - Commercial and industrial 1,080 1,080 333 12,695 17,977 2,100 Commercial real estate 29,868 30,854 3,164 - - - Residential and multifamily real estate - - - - - - Consumer - - - Commercial and industrial 5,739 5,820 333 16,204 25,299 2,100 Commercial real estate 31,597 32,583 3,164 - - - Residential and multifamily real estate 3,387 3,387 - - - - Consumer - - - $ 56,927 $ 67,089 $ 5,597 |
Derivatives and Hedging (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Derivatives and Hedging [Abstract] | |
Schedule of Derivative Instruments | Asset Derivatives Liability Derivatives Balance Sheet September 30, December 31, Balance Sheet September 30, December 31, Location 2022 2021 Location 2022 2021 (Dollars in thousands) Interest rate products: Derivatives not designated as hedging instruments Interest receivable and Other assets $ 11,430 $ 11,305 Interest payable and other liabilities $ 11,431 $ 11,322 Derivatives designated as hedging instruments Other assets - 3 Interest payable and other liabilities 6,891 565 Total $ 11,430 $ 11,308 $ 18,322 $ 11,887 |
Schedule of Cash Flow Hedge on Accumulated Other Comprehensive Income | For the Three Months Ended For the Nine Months Ended September 30, 2022 September 30, 2022 Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Gain or (Loss) Recognized in OCI on Derivative Gain or (Loss) Recognized in OCI Included Component Gain or (Loss) Recognized in OCI Excluded Component Gain or (Loss) Recognized in OCI on Derivative Gain or (Loss) Recognized in OCI Included Component Gain or (Loss) Recognized in OCI Excluded Component (Dollars in thousands) Derivatives in Cash Flow Hedging Relationships: Interest Rate Products Interest Income $ (6,891) $ (6,891) $ - $ (6,891) $ (6,891) $ - Interest Rate Products Interest expense (185) (185) - 3,855 $ 3,855 - $ (7,076) $ (7,076) $ - $ (3,036) $ (3,036) $ - |
Time Deposits and Borrowings (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Time Deposits and Borrowings [Abstract] | |
Schedule of Time Deposit Maturities and Borrowings | September 30, 2022 Within One Year One to Two Years Two to Three Years Three to Four Years Four to Five Years After Five Years Total (Dollars in thousands) Time deposits $ 487,378 $ 244,594 $ 673 $ 1,722 $ 15,804 $ - $ 750,171 FHLB borrowings 35,000 - - 5,100 - 97,500 137,600 FHLB line of credit 67,749 - - - - - 67,749 Trust preferred securities (1) - - - - - 1,048 1,048 $ 590,127 $ 244,594 $ 673 $ 6,822 $ 15,804 $ 98,548 $ 956,568 (1) The contract value of the trust preferred securities is $ 2.6 |
Change in Accumulated Other Comprehensive (Loss) Income (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Change in Accumulated Other Comprehensive Income (Loss) ("AOCI") [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | Amounts reclassified from AOCI and the affected line items in the Condensed Consolidated Statements of Income three- Three Months Ended Nine Months Ended September 30, September 30, Affected Line Item in the 2022 2021 2022 2021 Statements of Income (Dollars in thousands) Unrealized gains (losses) on available-for-sale securities $ (4) $ 1,046 $ (43) $ 1,043 Gain (loss) on sale of available- for-sale securities Less: tax benefit effect (1) 256 (11) 255 Income tax expense (benefit) Net reclassified amount $ (3) $ 790 $ (32) $ 788 |
Regulatory Matters (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Regulatory Matters [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | The Company’s and the Bank’s actual capital amounts and ratios as of September in the following table: Actual Minimum Capital Required - Basel III Required to be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) September 30, 2022 Total Capital to Risk-Weighted Assets Consolidated $ 728,639 12.1 % $ 632,742 10.5 % N/A Bank 712,631 11.8 632,414 10.5 $ 602,299 10.0 % Tier I Capital to Risk-Weighted Assets Consolidated 666,044 11.1 512,220 8.5 N/A N/A Bank 650,036 10.8 511,954 8.5 481,839 8.0 Common Equity Tier 1 to Risk-Weighted Assets Consolidated 664,997 11.0 421,828 7.0 N/A Bank 650,036 10.8 421,609 7.0 391,495 6.5 Tier I Capital to Average Assets Consolidated 666,044 11.4 233,086 4.0 N/A N/A Bank $ 650,036 11.2 % $ 233,019 4.0 % $ 291,274 5.0 % December 31, 2021 Total Capital to Risk-Weighted Assets Consolidated $ 704,544 13.6 % $ 544,060 10.5 % N/A N/A Bank 681,980 13.2 543,708 10.5 $ 517,817 10.0 % Tier I Capital to Risk-Weighted Assets Consolidated 646,169 12.5 440,430 8.5 N/A Bank 623,605 12.0 440,144 8.5 414,253 8.0 Common Equity Tier 1 to Risk-Weighted Assets Consolidated 645,160 12.5 362,707 7.0 N/A N/A Bank 623,605 12.0 362,472 7.0 336,581 6.5 Tier I Capital to Average Assets Consolidated 646,169 11.8 218,510 4.0 N/A Bank $ 623,605 11.4 % $ 218,366 4.0 % $ 272,958 5.0 % |
Stock-Based Compensation (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Stock-Based Compensation [Abstract] | |
Schedule of Stock-based Compensation | The table below summarizes the stock-based compensation for the 2021: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars in thousands) Stock appreciation rights $ 75 $ 150 $ 262 $ 584 Performance-based stock awards 200 75 611 337 Restricted stock units and awards 763 895 2,336 2,394 Employee stock purchase plan 31 29 95 58 Total stock-based compensation $ 1,069 $ 1,149 $ 3,304 $ 3,373 |
Summary of Status and Changes in Performance-Based Awards | The following table summarizes the status of and changes in the performance Performance-Based Restricted Stock Unit Awards Number of Shares Weighted-Average Grant Date Fair Value Unvested, January 1, 2022 98,352 $ 13.59 Granted 66,667 16.04 Vested - - Forfeited (24,944) 15.03 Unvested, September 30, 2022 140,075 $ 14.51 |
Summary of Status and Changes in RSUs and RSAs | The following table summarizes the status of and changes in the RSUs and RSAs: Restricted Stock Units and Awards Number of Shares Weighted-Average Grant Date Fair Value Unvested, January 1, 2022 383,630 $ 13.52 Granted 259,627 14.97 Vested (197,536) 13.83 Forfeited (35,612) 14.22 Unvested, September 30, 2022 410,109 $ 14.22 |
Income Tax (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Income Tax [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation | Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars in thousands) Computed at the statutory rate ( 21 %) $ 4,555 $ 5,598 $ 13,078 $ 12,693 Increase (decrease) resulting from Tax-exempt income (903) (828) (2,647) (2,830) Non-deductible expenses 72 55 265 145 State income taxes 740 912 2,164 2,090 Equity based compensation (47) (40) (201) (157) Other adjustments (7) (37) (34) (110) Actual tax expense $ 4,410 $ 5,660 $ 12,625 $ 11,831 |
Schedule of Deferred Tax Assets and Liabilities | September 30, 2022 December 31, 2021 (Dollars in thousands) Deferred tax assets Net unrealized loss on securities available-for-sale $ 27,374 $ - Allowance for credit losses 15,067 14,051 Lease incentive 467 508 Loan fees 3,645 3,227 Accrued expenses 2,438 2,735 Deferred compensation 1,969 2,418 State tax credit - 1,033 Other 495 2,057 Total deferred tax asset 51,455 26,029 Deferred tax liability Net unrealized gain on securities available-for-sale - (6,967) FHLB stock basis (735) (757) Premises and equipment (2,209) (2,602) Other (1,410) (1,229) Total deferred tax liability (4,354) (11,555) Net deferred tax asset $ 47,101 $ 14,474 |
Disclosures about Fair Value of Financial Instruments (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Disclosures about Fair Value of Financial Instruments [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Fair Value Description Valuation Hierarchy Level Where Fair Value Balance Can Be Found Available-for- Sale Securities and CRA Equity Security Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Level 2 Note 3: Securities Derivatives Fair value of the interest rate swaps is obtained from independent pricing services based on quoted market prices for similar derivative contracts. Level 2 Note 5: Derivatives and Hedging |
Fair Value Measurements, Nonrecurring | September 30, 2022 Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (Dollars in thousands) Collateral-dependent loans $ 20,302 $ - $ - $ 20,302 Foreclosed assets held-for-sale $ 1,588 $ - $ - $ 1,588 December 31, 2021 Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (Dollars in thousands) Collateral-dependent impaired loans $ 38,046 $ - $ - $ 38,046 Foreclosed assets held-for-sale $ 1,148 $ - $ - $ 1,148 |
Fair Value, Assets Measured on Nonrecurring Basis, Unobservable Input Reconciliation | September 30, 2022 Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (Dollars in thousands) $ Market comparable properties Marketability discount - % - 100 % Collateral dependent loans 20,302 ( 21 )% $ Market comparable properties Marketability discount Foreclosed assets held-for-sale 1,588 ( 11 )% December 31, 2021 Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (Dollars in thousands) $ Market comparable properties Marketability discount 7 % - 100 % Collateral-dependent impaired loans 38,046 ( 26 )% $ Market comparable properties Marketability discount Foreclosed assets held-for-sale 1,148 ( 10 )% |
Fair Value, by Balance Sheet Grouping | September 30, 2022 Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets Cash and cash equivalents $ 309,135 $ 309,135 $ - $ - Available-for-sale securities 656,527 - 656,527 - Loans, net of allowance for credit losses 4,621,782 - - 4,599,659 Restricted equity securities 9,277 - - 9,277 Interest receivable 20,553 - 20,553 - Equity securities 4,022 - 1,969 2,053 Derivative assets 11,430 - 11,430 - $ 5,632,726 $ 309,135 $ 690,479 $ 4,610,989 Financial Liabilities Deposits $ 4,987,515 $ 1,113,934 $ - $ 3,731,781 Federal Home Loan Bank line of credit 67,749 - 67,749 - Federal Home Loan Bank advances 137,600 - 130,684 - Other borrowings 1,048 - 1,875 - Interest payable 2,318 - 2,318 - Derivative liabilities 18,322 - 18,322 - $ 5,214,552 $ 1,113,934 $ 220,948 $ 3,731,781 December 31, 2021 Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets Cash and cash equivalents $ 482,727 $ 482,727 $ - $ - Available-for-sale securities 745,969 - 745,969 - Loans, net of allowance for loan losses 4,197,838 - - 4,178,268 Restricted equity securities 11,927 - - 11,927 Interest receivable 16,023 - 16,023 - Equity securities 2,642 - 2,209 433 Derivative assets 11,308 - 11,308 - $ 5,468,434 $ 482,727 $ 775,509 $ 4,190,628 Financial Liabilities Deposits $ 4,683,597 $ 1,163,224 $ - $ 3,482,218 Federal Home Loan Bank advances 236,600 - 241,981 - Other borrowings 1,009 - 2,318 - Interest payable 1,336 - 1,336 - Derivative liabilities 11,887 - 11,887 - $ 4,934,429 $ 1,163,224 $ 257,522 $ 3,482,218 |
Commitments and Credit Risk (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Commitments and Credit Risk [Abstract] | |
Schedule of Commitments | September 30, 2022 December 31, 2021 (Dollars in thousands) Commitments to originate loans $ 353,783 $ 118,651 Standby letters of credit 56,791 51,114 Lines of credit 2,288,742 1,768,231 Future lease commitments - 11,100 Commitments related to investment fund 3,947 2,067 $ 2,703,263 $ 1,951,163 |
Leases (Tables) |
9 Months Ended |
---|---|
Sep. 30, 2022 | |
Leases [Abstract] | |
Components of operating lease expense | For the Three Months Ended September 30, 2022 For the Nine Months Ended September 30, 2022 (Dollars in thousands) Finance lease amortization of right-of-use asset $ 69 $ 161 Finance lease interest on lease liability 69 115 Operating lease expense 603 1,932 Variable lease expense 297 855 Short-term lease expense 5 15 Total lease expense $ 1,043 $ 3,078 |
Future minimum commitments, Operating lease | Operating Leases Finance Lease (Dollars in thousands) Remainder of 2022 $ 762 $ 123 2023 3,070 490 2024 2,793 490 2025 2,804 490 2026 2,836 490 Thereafter 15,243 8,823 Total lease payments $ 27,508 $ 10,906 Less imputed interest 2,965 3,232 Total $ 24,543 $ 7,674 |
Future minimum commitments, Finance Lease | Operating Leases Finance Lease (Dollars in thousands) Remainder of 2022 $ 762 $ 123 2023 3,070 490 2024 2,793 490 2025 2,804 490 2026 2,836 490 Thereafter 15,243 8,823 Total lease payments $ 27,508 $ 10,906 Less imputed interest 2,965 3,232 Total $ 24,543 $ 7,674 |
Nature of Operations and Summary of Significant Accounting Policies (Details) $ in Millions |
3 Months Ended | 9 Months Ended |
---|---|---|
Sep. 30, 2022
USD ($)
Item
|
Sep. 30, 2022
USD ($)
|
|
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Cash and cash equivalents held at the Federal Reserve Bank of Kansas City | $ 205 | $ 205 |
Number of subsidiaries | Item | 3 | |
Farmers & Stockmens Bank [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Payments to Acquire Businesses, Gross | $ 75 |
Nature of Operations and Summary of Significant Accounting Policies - Impact of adopting ASU 2016-13 (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Jun. 30, 2022 |
Jan. 01, 2022 |
Dec. 31, 2021 |
||
---|---|---|---|---|---|---|
Loans, net of unearned fees | $ 4,677,646 | $ 4,256,213 | ||||
Allowance for credit losses on loans | [1] | 55,864 | $ 55,817 | 58,375 | ||
Loans, net of the allowance for credit losses on loans | 4,621,782 | 4,197,838 | ||||
Allowance for credit losses on off-balance sheet exposures | 6,731 | 5,320 | 0 | |||
Retained earnings | 194,148 | 147,099 | ||||
Previously Reported | ||||||
Loans, net of unearned fees | $ 4,269,620 | |||||
Net deferred loan fees and costs | 13,407 | |||||
Allowance for credit losses on loans | 58,375 | |||||
Loans, net of the allowance for credit losses on loans | 4,197,838 | |||||
Deferred tax asset | 14,474 | |||||
Allowance for credit losses on off-balance sheet exposures | 0 | |||||
Retained earnings | 147,099 | |||||
Commercial and Industrial | ||||||
Loans, net of unearned fees | 857,836 | 843,024 | ||||
Allowance for credit losses on loans | 11,337 | 10,920 | 20,352 | |||
Allowance for credit losses on off-balance sheet exposures | 97 | 63 | 0 | |||
Commercial and Industrial | Previously Reported | ||||||
Loans, net of unearned fees | 1,401,681 | |||||
Commercial and Industrial lines of credit | ||||||
Loans, net of unearned fees | 831,187 | 617,398 | ||||
Allowance for credit losses on loans | 12,057 | 11,267 | 0 | |||
Allowance for credit losses on off-balance sheet exposures | 0 | 0 | 0 | |||
Commercial and Industrial lines of credit | Previously Reported | ||||||
Loans, net of unearned fees | 0 | |||||
Energy | ||||||
Loans, net of unearned fees | 178,855 | 278,579 | ||||
Allowance for credit losses on loans | 4,828 | 6,428 | 9,229 | |||
Allowance for credit losses on off-balance sheet exposures | 548 | 470 | 0 | |||
Energy | Previously Reported | ||||||
Loans, net of unearned fees | 278,860 | |||||
Commercial real estate | ||||||
Loans, net of unearned fees | 1,400,338 | 1,278,479 | ||||
Allowance for credit losses on loans | 16,455 | 17,042 | 19,119 | |||
Allowance for credit losses on off-balance sheet exposures | 676 | 657 | 0 | |||
Commercial real estate | Previously Reported | ||||||
Loans, net of unearned fees | 1,281,095 | |||||
Construction and land development | ||||||
Loans, net of unearned fees | 674,041 | 574,852 | ||||
Allowance for credit losses on loans | 4,587 | 3,918 | 3,749 | |||
Allowance for credit losses on off-balance sheet exposures | 5,320 | 4,016 | 0 | |||
Construction and land development | Previously Reported | ||||||
Loans, net of unearned fees | 578,758 | |||||
Residential real estate | ||||||
Loans, net of unearned fees | 393,867 | 360,046 | ||||
Allowance for credit losses on loans | 3,237 | 3,134 | 5,598 | |||
Allowance for credit losses on off-balance sheet exposures | 2 | 4 | 0 | |||
Residential real estate | Previously Reported | ||||||
Loans, net of unearned fees | 600,816 | |||||
Multifamily real estate | ||||||
Loans, net of unearned fees | 275,795 | 240,230 | ||||
Allowance for credit losses on loans | 2,673 | 2,427 | 0 | |||
Allowance for credit losses on off-balance sheet exposures | 84 | 109 | 0 | |||
Multifamily real estate | Previously Reported | ||||||
Loans, net of unearned fees | 0 | |||||
Paycheck Protection Program ("PPP") | Previously Reported | ||||||
Loans, net of unearned fees | 64,805 | |||||
Consumer | ||||||
Loans, net of unearned fees | 65,727 | 63,605 | ||||
Allowance for credit losses on loans | 690 | 681 | 328 | |||
Allowance for credit losses on off-balance sheet exposures | $ 4 | $ 1 | 0 | |||
Consumer | Previously Reported | ||||||
Loans, net of unearned fees | 63,605 | |||||
As Reported under ASU 2016-13 | ||||||
Loans, net of unearned fees | 4,256,213 | |||||
Net deferred loan fees and costs | 0 | |||||
Allowance for credit losses on loans | 56,628 | |||||
Loans, net of the allowance for credit losses on loans | 4,199,585 | |||||
Deferred tax asset | 13,647 | |||||
Allowance for credit losses on off-balance sheet exposures | 5,184 | |||||
Retained earnings | 144,489 | |||||
As Reported under ASU 2016-13 | Commercial and Industrial | ||||||
Loans, net of unearned fees | 843,024 | |||||
As Reported under ASU 2016-13 | Commercial and Industrial lines of credit | ||||||
Loans, net of unearned fees | 617,398 | |||||
As Reported under ASU 2016-13 | Energy | ||||||
Loans, net of unearned fees | 278,579 | |||||
As Reported under ASU 2016-13 | Commercial real estate | ||||||
Loans, net of unearned fees | 1,278,479 | |||||
As Reported under ASU 2016-13 | Construction and land development | ||||||
Loans, net of unearned fees | 574,852 | |||||
As Reported under ASU 2016-13 | Residential real estate | ||||||
Loans, net of unearned fees | 360,046 | |||||
As Reported under ASU 2016-13 | Multifamily real estate | ||||||
Loans, net of unearned fees | 240,230 | |||||
As Reported under ASU 2016-13 | Paycheck Protection Program ("PPP") | ||||||
Loans, net of unearned fees | 0 | |||||
As Reported under ASU 2016-13 | Consumer | ||||||
Loans, net of unearned fees | 63,605 | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | ||||||
Loans, net of unearned fees | (13,407) | |||||
Net deferred loan fees and costs | (13,407) | |||||
Allowance for credit losses on loans | (1,747) | (1,747) | ||||
Loans, net of the allowance for credit losses on loans | 1,747 | |||||
Deferred tax asset | (827) | |||||
Allowance for credit losses on off-balance sheet exposures | 5,184 | 5,184 | ||||
Retained earnings | (2,610) | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | Commercial and Industrial | ||||||
Loans, net of unearned fees | (558,657) | |||||
Allowance for credit losses on loans | (10,213) | |||||
Allowance for credit losses on off-balance sheet exposures | 107 | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | Commercial and Industrial lines of credit | ||||||
Loans, net of unearned fees | 617,398 | |||||
Allowance for credit losses on loans | 8,866 | |||||
Allowance for credit losses on off-balance sheet exposures | 44 | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | Energy | ||||||
Loans, net of unearned fees | (281) | |||||
Allowance for credit losses on loans | (39) | |||||
Allowance for credit losses on off-balance sheet exposures | 265 | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | Commercial real estate | ||||||
Loans, net of unearned fees | (2,616) | |||||
Allowance for credit losses on loans | (186) | |||||
Allowance for credit losses on off-balance sheet exposures | 711 | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | Construction and land development | ||||||
Loans, net of unearned fees | (3,906) | |||||
Allowance for credit losses on loans | (83) | |||||
Allowance for credit losses on off-balance sheet exposures | 3,914 | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | Residential real estate | ||||||
Loans, net of unearned fees | (240,770) | |||||
Allowance for credit losses on loans | (2,552) | |||||
Allowance for credit losses on off-balance sheet exposures | 5 | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | Multifamily real estate | ||||||
Loans, net of unearned fees | 240,230 | |||||
Allowance for credit losses on loans | 2,465 | |||||
Allowance for credit losses on off-balance sheet exposures | 137 | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | Paycheck Protection Program ("PPP") | ||||||
Loans, net of unearned fees | (64,805) | |||||
Cumulative Effect, Period of Adoption, Adjustment | As Reported under ASU 2016-13 | Consumer | ||||||
Loans, net of unearned fees | $ 0 | |||||
Allowance for credit losses on loans | (5) | |||||
Allowance for credit losses on off-balance sheet exposures | $ 1 | |||||
|
Nature of Operations and Summary of Significant Accounting Policies - Impact of adopting ASU 2016-02 (Details) - USD ($) |
Sep. 30, 2022 |
Jan. 01, 2022 |
---|---|---|
Right-of-use asset | $ 29,000,000 | |
Lease liability | $ 24,543,000 | |
Previously Reported | ||
Right-of-use asset | $ 0 | |
Lease Incentive | 2,125,000 | |
Accrued rent payable | 904,000 | |
Lease liability | 0 | |
As Reproted under ASU 2016-02 | ||
Right-of-use asset | 23,589,000 | |
Lease Incentive | 0 | |
Accrued rent payable | 0 | |
Lease liability | 26,618,000 | |
Cumulative Effect, Period of Adoption, Adjustment | As Reproted under ASU 2016-02 | ||
Right-of-use asset | 23,589,000 | |
Lease Incentive | (2,125,000) | |
Accrued rent payable | (904,000) | |
Lease liability | $ 26,618,000 |
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
Earnings per Share | ||||
Net income available to common stockholders | $ 17,280 | $ 21,000 | $ 49,653 | $ 48,612 |
Weighted average common shares (in shares) | 49,266,811 | 50,990,113 | 49,755,184 | 51,368,957 |
Earnings per share (in dollars per share) | $ 0.35 | $ 0.41 | $ 1.00 | $ 0.95 |
Dilutive Earnings Per Share | ||||
Net income available to common stockholders | $ 17,280 | $ 21,000 | $ 49,653 | $ 48,612 |
Weighted average common shares (in shares) | 49,266,811 | 50,990,113 | 49,755,184 | 51,368,957 |
Effect of dilutive shares (in shares) | 454,682 | 615,608 | 525,409 | 699,257 |
Weighted average dilutive common shares (in shares) | 49,721,493 | 51,605,721 | 50,280,593 | 52,068,214 |
Diluted earnings per share (in dollars per share) | $ 0.35 | $ 0.41 | $ 0.99 | $ 0.93 |
Stock-based awards not included because to do so would be antidilutive (in shares) | 529,336 | 587,200 | 334,725 | 657,887 |
Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Available-for-sale debt securities | ||
Total available-for-sale securities | $ 764,749 | $ 716,952 |
Gross Unrealized Gains | 312 | 31,568 |
Gross Unrealized Losses | 108,534 | 2,551 |
Approximate Fair Value | 656,527 | 745,969 |
Mortgage-backed - GSE residential | ||
Available-for-sale debt securities | ||
Total available-for-sale securities | 178,287 | 161,675 |
Gross Unrealized Gains | 0 | 1,809 |
Gross Unrealized Losses | 27,761 | 1,774 |
Approximate Fair Value | 150,526 | 161,710 |
Collateralized mortgage obligations - GSE residential | ||
Available-for-sale debt securities | ||
Total available-for-sale securities | 12,489 | 18,130 |
Gross Unrealized Gains | 0 | 311 |
Gross Unrealized Losses | 752 | 10 |
Approximate Fair Value | 11,737 | 18,431 |
State and political subdivisions | ||
Available-for-sale debt securities | ||
Total available-for-sale securities | 568,863 | 532,906 |
Gross Unrealized Gains | 299 | 29,329 |
Gross Unrealized Losses | 79,696 | 767 |
Approximate Fair Value | 489,466 | 561,468 |
Corporate bonds | ||
Available-for-sale debt securities | ||
Total available-for-sale securities | 5,110 | 4,241 |
Gross Unrealized Gains | 13 | 119 |
Gross Unrealized Losses | 325 | 0 |
Approximate Fair Value | 4,798 | $ 4,360 |
Mutual funds | ||
Equity Securities | ||
Approximate Fair Value | $ 2,000 |
Securities - Amortized Cost and Fair Value by Maturity Date (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Amortized cost | ||
Within one year | $ 1,127 | |
After one to five years | 5,550 | |
After five to ten years | 119,724 | |
After ten years | 638,348 | |
Total available-for-sale securities | 764,749 | $ 716,952 |
Estimated fair value | ||
Within one year | 1,131 | |
After one to five years | 5,594 | |
After five to ten years | 116,949 | |
After ten years | 532,853 | |
Total | $ 656,527 | 745,969 |
Weighted average yield | ||
Within one year | 3.37% | |
After one to five years | 4.09% | |
After five to ten years | 3.29% | |
After ten years | 2.53% | |
Total | 2.66% | |
Mortgage-backed - GSE residential | ||
Amortized cost | ||
After one to five years | $ 24 | |
After five to ten years | 105 | |
After ten years | 178,158 | |
Total available-for-sale securities | 178,287 | 161,675 |
Estimated fair value | ||
After one to five years | 23 | |
After five to ten years | 101 | |
After ten years | 150,402 | |
Total | $ 150,526 | 161,710 |
Weighted average yield | ||
After one to five years | 4.78% | |
After five to ten years | 4.01% | |
After ten years | 2.06% | |
Total | 2.06% | |
Collateralized mortgage obligations - GSE residential | ||
Amortized cost | ||
After five to ten years | $ 2,365 | |
After ten years | 10,124 | |
Total available-for-sale securities | 12,489 | 18,130 |
Estimated fair value | ||
After five to ten years | 2,241 | |
After ten years | 9,496 | |
Total | $ 11,737 | 18,431 |
Weighted average yield | ||
After five to ten years | 2.77% | |
After ten years | 2.27% | |
Total | 2.37% | |
State and political subdivisions | ||
Amortized cost | ||
Within one year | $ 1,127 | |
After one to five years | 5,028 | |
After five to ten years | 112,642 | |
After ten years | 450,066 | |
Total available-for-sale securities | 568,863 | 532,906 |
Estimated fair value | ||
Within one year | 1,131 | |
After one to five years | 5,070 | |
After five to ten years | 110,310 | |
After ten years | 372,955 | |
Total | $ 489,466 | 561,468 |
Weighted average yield | ||
Within one year | 3.37% | |
After one to five years | 3.88% | |
After five to ten years | 3.26% | |
After ten years | 2.73% | |
Total | 2.85% | |
Corporate bonds | ||
Amortized cost | ||
After one to five years | $ 498 | |
After five to ten years | 4,612 | |
Total available-for-sale securities | 5,110 | 4,241 |
Estimated fair value | ||
After one to five years | 501 | |
After five to ten years | 4,297 | |
Total | $ 4,798 | $ 4,360 |
Weighted average yield | ||
After one to five years | 6.22% | |
After five to ten years | 4.31% | |
Total | 4.49% |
Securities - Unrealized Losses (Details) $ in Thousands |
Sep. 30, 2022
USD ($)
Securities
|
Dec. 31, 2021
USD ($)
Securities
|
---|---|---|
Less than 12 Months | ||
Fair Value | $ 531,613 | $ 161,024 |
Unrealized Losses | $ 72,759 | $ 2,546 |
Number of Securities | Securities | 409 | 57 |
12 Months or More | ||
Fair Value | $ 94,345 | $ 1,310 |
Unrealized Losses | $ 35,775 | $ 5 |
Number of Securities | Securities | 54 | 4 |
Total | ||
Fair Value | $ 625,958 | $ 162,334 |
Unrealized Losses | $ 108,534 | $ 2,551 |
Number of Securities | Securities | 463 | 61 |
Mortgage-backed - GSE residential | ||
Less than 12 Months | ||
Fair Value | $ 104,743 | $ 87,306 |
Unrealized Losses | $ 16,106 | $ 1,774 |
Number of Securities | Securities | 43 | 16 |
12 Months or More | ||
Fair Value | $ 45,783 | $ 0 |
Unrealized Losses | $ 11,655 | $ 0 |
Number of Securities | Securities | 14 | 0 |
Total | ||
Fair Value | $ 150,526 | $ 87,306 |
Unrealized Losses | $ 27,761 | $ 1,774 |
Number of Securities | Securities | 57 | 16 |
Collateralized mortgage obligations - GSE residential | ||
Less than 12 Months | ||
Fair Value | $ 11,430 | $ 803 |
Unrealized Losses | $ 740 | $ 10 |
Number of Securities | Securities | 18 | 2 |
12 Months or More | ||
Fair Value | $ 307 | $ 0 |
Unrealized Losses | $ 12 | $ 0 |
Number of Securities | Securities | 1 | 0 |
Total | ||
Fair Value | $ 11,737 | $ 803 |
Unrealized Losses | $ 752 | $ 10 |
Number of Securities | Securities | 19 | 2 |
State and political subdivisions | ||
Less than 12 Months | ||
Fair Value | $ 410,905 | $ 72,915 |
Unrealized Losses | $ 55,588 | $ 762 |
Number of Securities | Securities | 344 | 39 |
12 Months or More | ||
Fair Value | $ 48,255 | $ 1,310 |
Unrealized Losses | $ 24,108 | $ 5 |
Number of Securities | Securities | 39 | 4 |
Total | ||
Fair Value | $ 459,160 | $ 74,225 |
Unrealized Losses | $ 79,696 | $ 767 |
Number of Securities | Securities | 383 | 43 |
Corporate bonds | ||
Less than 12 Months | ||
Fair Value | $ 4,535 | $ 0 |
Unrealized Losses | $ 325 | $ 0 |
Number of Securities | Securities | 4 | 0 |
12 Months or More | ||
Fair Value | $ 0 | $ 0 |
Unrealized Losses | $ 0 | $ 0 |
Number of Securities | Securities | 0 | 0 |
Total | ||
Fair Value | $ 4,535 | $ 0 |
Unrealized Losses | $ 325 | $ 0 |
Number of Securities | Securities | 4 | 0 |
Securities - Available-for-sale, Net Realized Gain (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
Securities [Abstract] | ||||
Gross Realized Gains | $ 1 | $ 1,125 | $ 3 | $ 1,151 |
Gross Realized Losses | (5) | (79) | (46) | (108) |
Net Realized Gain (Loss) | $ (4) | $ 1,046 | $ (43) | $ 1,043 |
Securities - Equity Securities (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
Securities [Abstract] | ||||
Net gains (losses) recognized during the reporting period on equity securities | $ (87) | $ (6,210) | $ (261) | $ (6,243) |
Less: net gains recognized during the reporting period on equity securities sold during the reporting period | 0 | 0 | 0 | 0 |
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date | $ (87) | $ (6,210) | $ (261) | $ (6,243) |
Securities - Narrative (Details) |
9 Months Ended |
---|---|
Sep. 30, 2022
USD ($)
| |
Debt and Equity Securities, FV-NI [Line Items] | |
Accrued interest | $ 6,000,000 |
Unrealized Gain (Loss) | 0 |
Allowance for Credit Loss | 0 |
Mutual Fund [Member] | |
Debt and Equity Securities, FV-NI [Line Items] | |
Equity securities | 2,000,000 |
Private Equity Funds [Member] | |
Debt and Equity Securities, FV-NI [Line Items] | |
Equity securities | $ 2,000,000 |
Loans and Allowance for Loan Losses ("ALLL") - Category of Loans (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Jun. 30, 2022 |
Dec. 31, 2021 |
||
---|---|---|---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned fees | $ 4,677,646 | $ 4,256,213 | |||
Less: allowance for credit losses | [1] | 55,864 | $ 55,817 | 58,375 | |
Loans, net of the allowance for credit losses on loans | 4,621,782 | 4,197,838 | |||
Commercial and Industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned fees | 857,836 | 843,024 | |||
Less: allowance for credit losses | 11,337 | 10,920 | 20,352 | ||
Commercial and Industrial lines of credit | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned fees | 831,187 | 617,398 | |||
Less: allowance for credit losses | 12,057 | 11,267 | 0 | ||
Energy | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned fees | 178,855 | 278,579 | |||
Less: allowance for credit losses | 4,828 | 6,428 | 9,229 | ||
Commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned fees | 1,400,338 | 1,278,479 | |||
Less: allowance for credit losses | 16,455 | 17,042 | 19,119 | ||
Construction and land development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned fees | 674,041 | 574,852 | |||
Less: allowance for credit losses | 4,587 | 3,918 | 3,749 | ||
Residential real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned fees | 393,867 | 360,046 | |||
Less: allowance for credit losses | 3,237 | 3,134 | 5,598 | ||
Multifamily real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned fees | 275,795 | 240,230 | |||
Less: allowance for credit losses | 2,673 | 2,427 | 0 | ||
Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned fees | 65,727 | 63,605 | |||
Less: allowance for credit losses | $ 690 | $ 681 | $ 328 | ||
|
Loans and Allowance for Loan Losses ("ALLL") - Company's Loan Portfolio Internal Rating Categories Loan Segments (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | $ 947,968 | |
2021 | 979,744 | |
2020 | 487,940 | |
2019 | 251,714 | |
2018 | 177,653 | |
2017 and Prior | 135,788 | |
Revolving loans | 1,489,743 | |
Revolving loans converted to term loans | 207,096 | |
Total Loans Receivable | 4,677,646 | $ 4,256,213 |
Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 408 | |
2021 | 2,593 | |
2020 | 0 | |
2019 | 6 | |
2018 | 1,383 | |
2017 and Prior | 700 | |
Revolving loans | 11,638 | |
Revolving loans converted to term loans | 195 | |
Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 923,420 | |
2021 | 953,465 | |
2020 | 470,899 | |
2019 | 247,894 | |
2018 | 168,930 | |
2017 and Prior | 133,408 | |
Revolving loans | 1,422,400 | |
Revolving loans converted to term loans | 145,869 | |
Total Loans Receivable | 4,466,285 | |
Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 13,463 | |
2021 | 23,231 | |
2020 | 12,063 | |
2019 | 1,649 | |
2018 | 6,582 | |
2017 and Prior | 402 | |
Revolving loans | 42,386 | |
Revolving loans converted to term loans | 39,624 | |
Total Loans Receivable | 139,400 | |
Substandard | Accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 10,677 | |
2021 | 455 | |
2020 | 4,978 | |
2019 | 2,165 | |
2018 | 758 | |
2017 and Prior | 1,278 | |
Revolving loans | 13,319 | |
Revolving loans converted to term loans | 21,408 | |
Total Loans Receivable | 55,038 | |
Substandard | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 408 | |
2021 | 2,593 | |
2020 | 0 | |
2019 | 6 | |
2018 | 1,383 | |
2017 and Prior | 700 | |
Revolving loans | 9,850 | |
Revolving loans converted to term loans | 195 | |
Total Loans Receivable | 15,135 | |
Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 1,788 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 1,788 | |
Commercial | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 287,163 | |
2021 | 290,791 | |
2020 | 84,139 | |
2019 | 58,334 | |
2018 | 58,108 | |
2017 and Prior | 21,992 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 57,309 | |
Total Loans Receivable | 857,836 | 843,024 |
Commercial | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 104 | |
2020 | 0 | |
2019 | 6 | |
2018 | 1,383 | |
2017 and Prior | 700 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Commercial | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 285,880 | |
2021 | 287,991 | |
2020 | 70,591 | |
2019 | 55,167 | |
2018 | 55,665 | |
2017 and Prior | 21,134 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 30,392 | |
Total Loans Receivable | 806,820 | |
Commercial | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 1,283 | |
2021 | 2,241 | |
2020 | 12,063 | |
2019 | 996 | |
2018 | 302 | |
2017 and Prior | 112 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 6,501 | |
Total Loans Receivable | 23,498 | |
Commercial | Substandard | Accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 455 | |
2020 | 1,485 | |
2019 | 2,165 | |
2018 | 758 | |
2017 and Prior | 46 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 20,416 | |
Total Loans Receivable | 25,325 | |
Commercial | Substandard | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 104 | |
2020 | 0 | |
2019 | 6 | |
2018 | 1,383 | |
2017 and Prior | 700 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 2,193 | |
Commercial | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Commercial line of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 831,187 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 831,187 | 617,398 |
Commercial line of credit | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 6,475 | |
Revolving loans converted to term loans | 0 | |
Commercial line of credit | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 780,710 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 780,710 | |
Commercial line of credit | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 32,814 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 32,814 | |
Commercial line of credit | Substandard | Accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 11,188 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 11,188 | |
Commercial line of credit | Substandard | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 6,475 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 6,475 | |
Commercial line of credit | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Energy | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 7,446 | |
2021 | 403 | |
2020 | 246 | |
2019 | 0 | |
2018 | 7 | |
2017 and Prior | 0 | |
Revolving loans | 170,565 | |
Revolving loans converted to term loans | 188 | |
Total Loans Receivable | 178,855 | 278,579 |
Energy | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 5,163 | |
Revolving loans converted to term loans | 0 | |
Energy | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 7,446 | |
2021 | 403 | |
2020 | 246 | |
2019 | 0 | |
2018 | 7 | |
2017 and Prior | 0 | |
Revolving loans | 156,119 | |
Revolving loans converted to term loans | 188 | |
Total Loans Receivable | 164,409 | |
Energy | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 7,152 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 7,152 | |
Energy | Substandard | Accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 2,131 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 2,131 | |
Energy | Substandard | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 3,375 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 3,375 | |
Energy | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 1,788 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 1,788 | |
Commercial real estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 293,539 | |
2021 | 271,658 | |
2020 | 145,857 | |
2019 | 110,577 | |
2018 | 74,270 | |
2017 and Prior | 75,987 | |
Revolving loans | 295,589 | |
Revolving loans converted to term loans | 132,861 | |
Total Loans Receivable | 1,400,338 | 1,278,479 |
Commercial real estate | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 408 | |
2021 | 2,489 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Commercial real estate | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 270,669 | |
2021 | 259,299 | |
2020 | 145,530 | |
2019 | 110,155 | |
2018 | 67,990 | |
2017 and Prior | 74,465 | |
Revolving loans | 293,169 | |
Revolving loans converted to term loans | 98,783 | |
Total Loans Receivable | 1,320,060 | |
Commercial real estate | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 11,927 | |
2021 | 9,870 | |
2020 | 0 | |
2019 | 422 | |
2018 | 6,280 | |
2017 and Prior | 290 | |
Revolving loans | 2,420 | |
Revolving loans converted to term loans | 33,086 | |
Total Loans Receivable | 64,295 | |
Commercial real estate | Substandard | Accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 10,535 | |
2021 | 0 | |
2020 | 327 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 1,232 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 992 | |
Total Loans Receivable | 13,086 | |
Commercial real estate | Substandard | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 408 | |
2021 | 2,489 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 2,897 | |
Commercial real estate | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Construction and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 205,062 | |
2021 | 298,583 | |
2020 | 126,364 | |
2019 | 24,323 | |
2018 | 3,663 | |
2017 and Prior | 1,367 | |
Revolving loans | 14,679 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 674,041 | 574,852 |
Construction and land development | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Construction and land development | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 205,062 | |
2021 | 290,753 | |
2020 | 126,364 | |
2019 | 24,323 | |
2018 | 3,663 | |
2017 and Prior | 1,367 | |
Revolving loans | 14,679 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 666,211 | |
Construction and land development | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 7,830 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 7,830 | |
Construction and land development | Substandard | Accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Construction and land development | Substandard | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Construction and land development | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Residential real estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 64,935 | |
2021 | 82,525 | |
2020 | 124,057 | |
2019 | 46,254 | |
2018 | 38,417 | |
2017 and Prior | 35,590 | |
Revolving loans | 1,894 | |
Revolving loans converted to term loans | 195 | |
Total Loans Receivable | 393,867 | 360,046 |
Residential real estate | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 195 | |
Residential real estate | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 64,540 | |
2021 | 79,235 | |
2020 | 120,891 | |
2019 | 46,023 | |
2018 | 38,417 | |
2017 and Prior | 35,590 | |
Revolving loans | 1,894 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 386,590 | |
Residential real estate | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 253 | |
2021 | 3,290 | |
2020 | 0 | |
2019 | 231 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 3,774 | |
Residential real estate | Substandard | Accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 142 | |
2021 | 0 | |
2020 | 3,166 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 3,308 | |
Residential real estate | Substandard | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 195 | |
Total Loans Receivable | 195 | |
Residential real estate | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Multifamily real estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 78,194 | |
2021 | 33,272 | |
2020 | 5,363 | |
2019 | 12,005 | |
2018 | 3,078 | |
2017 and Prior | 822 | |
Revolving loans | 126,518 | |
Revolving loans converted to term loans | 16,543 | |
Total Loans Receivable | 275,795 | 240,230 |
Multifamily real estate | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Multifamily real estate | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 78,194 | |
2021 | 33,272 | |
2020 | 5,363 | |
2019 | 12,005 | |
2018 | 3,078 | |
2017 and Prior | 822 | |
Revolving loans | 126,518 | |
Revolving loans converted to term loans | 16,506 | |
Total Loans Receivable | 275,758 | |
Multifamily real estate | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 37 | |
Total Loans Receivable | 37 | |
Multifamily real estate | Substandard | Accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Multifamily real estate | Substandard | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Multifamily real estate | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 11,629 | |
2021 | 2,512 | |
2020 | 1,914 | |
2019 | 221 | |
2018 | 110 | |
2017 and Prior | 30 | |
Revolving loans | 49,311 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 65,727 | $ 63,605 |
Consumer | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Consumer | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 11,629 | |
2021 | 2,512 | |
2020 | 1,914 | |
2019 | 221 | |
2018 | 110 | |
2017 and Prior | 30 | |
Revolving loans | 49,311 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 65,727 | |
Consumer | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Consumer | Substandard | Accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Consumer | Substandard | Non-accrual | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Consumer | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | $ 0 |
Loans and Allowance for Loan Losses ("ALLL") - Loan Aging Analysis (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Financing Receivable, Past Due [Line Items] | ||
2022 | $ 947,968 | |
2021 | 979,744 | |
2020 | 487,940 | |
2019 | 251,714 | |
2018 | 177,653 | |
2017 and Prior | 135,788 | |
Revolving loans | 1,489,743 | |
Revolving loans converted to term loans | 207,096 | |
Total Loans Receivable | 4,677,646 | $ 4,256,213 |
Loans >= 90 Days and Accruing | 90 | |
30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 1,150 | |
2021 | 0 | |
2020 | 0 | |
2019 | 15 | |
2018 | 0 | |
2017 and Prior | 195 | |
Revolving loans | 14,425 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 15,785 | |
60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 4,566 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 1,032 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 5,598 | |
Greater than 90 Days | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 244 | |
2020 | 7 | |
2019 | 75 | |
2018 | 1,383 | |
2017 and Prior | 655 | |
Revolving loans | 6,731 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 9,095 | |
Total past due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 5,716 | |
2021 | 244 | |
2020 | 7 | |
2019 | 90 | |
2018 | 1,383 | |
2017 and Prior | 1,882 | |
Revolving loans | 21,156 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 30,478 | |
Current | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 942,252 | |
2021 | 979,500 | |
2020 | 487,933 | |
2019 | 251,624 | |
2018 | 176,270 | |
2017 and Prior | 133,906 | |
Revolving loans | 1,468,587 | |
Revolving loans converted to term loans | 207,096 | |
Total Loans Receivable | 4,647,168 | |
Greater Than 90 Days And Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 140 | |
2020 | 7 | |
2019 | 73 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 83 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 303 | |
Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 287,163 | |
2021 | 290,791 | |
2020 | 84,139 | |
2019 | 58,334 | |
2018 | 58,108 | |
2017 and Prior | 21,992 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 57,309 | |
Total Loans Receivable | 857,836 | 843,024 |
Loans >= 90 Days and Accruing | 90 | |
Commercial | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 600 | |
2021 | 0 | |
2020 | 0 | |
2019 | 15 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 615 | |
Commercial | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Commercial | Greater than 90 Days | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 124 | |
2020 | 7 | |
2019 | 75 | |
2018 | 1,383 | |
2017 and Prior | 655 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 2,244 | |
Commercial | Total past due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 600 | |
2021 | 124 | |
2020 | 7 | |
2019 | 90 | |
2018 | 1,383 | |
2017 and Prior | 655 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 2,859 | |
Commercial | Current | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 286,563 | |
2021 | 290,667 | |
2020 | 84,132 | |
2019 | 58,244 | |
2018 | 56,725 | |
2017 and Prior | 21,337 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 57,309 | |
Total Loans Receivable | 854,977 | |
Commercial | Greater Than 90 Days And Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 20 | |
2020 | 7 | |
2019 | 73 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 100 | |
Commercial line of credit | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 831,187 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 831,187 | 617,398 |
Commercial line of credit | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 3,796 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 3,796 | |
Commercial line of credit | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Commercial line of credit | Greater than 90 Days | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 1,568 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 1,568 | |
Commercial line of credit | Total past due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 5,364 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 5,364 | |
Commercial line of credit | Current | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 825,823 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 825,823 | |
Commercial line of credit | Greater Than 90 Days And Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 83 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 83 | |
Energy | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 7,446 | |
2021 | 403 | |
2020 | 246 | |
2019 | 0 | |
2018 | 7 | |
2017 and Prior | 0 | |
Revolving loans | 170,565 | |
Revolving loans converted to term loans | 188 | |
Total Loans Receivable | 178,855 | 278,579 |
Loans >= 90 Days and Accruing | 0 | |
Energy | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Energy | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Energy | Greater than 90 Days | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 5,163 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 5,163 | |
Energy | Total past due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 5,163 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 5,163 | |
Energy | Current | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 7,446 | |
2021 | 403 | |
2020 | 246 | |
2019 | 0 | |
2018 | 7 | |
2017 and Prior | 0 | |
Revolving loans | 165,402 | |
Revolving loans converted to term loans | 188 | |
Total Loans Receivable | 173,692 | |
Energy | Greater Than 90 Days And Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 293,539 | |
2021 | 271,658 | |
2020 | 145,857 | |
2019 | 110,577 | |
2018 | 74,270 | |
2017 and Prior | 75,987 | |
Revolving loans | 295,589 | |
Revolving loans converted to term loans | 132,861 | |
Total Loans Receivable | 1,400,338 | 1,278,479 |
Loans >= 90 Days and Accruing | 0 | |
Commercial real estate | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 408 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 195 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 603 | |
Commercial real estate | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 1,032 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 1,032 | |
Commercial real estate | Greater than 90 Days | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Commercial real estate | Total past due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 408 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 1,227 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 1,635 | |
Commercial real estate | Current | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 293,131 | |
2021 | 271,658 | |
2020 | 145,857 | |
2019 | 110,577 | |
2018 | 74,270 | |
2017 and Prior | 74,760 | |
Revolving loans | 295,589 | |
Revolving loans converted to term loans | 132,861 | |
Total Loans Receivable | 1,398,703 | |
Commercial real estate | Greater Than 90 Days And Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Construction and land development | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 205,062 | |
2021 | 298,583 | |
2020 | 126,364 | |
2019 | 24,323 | |
2018 | 3,663 | |
2017 and Prior | 1,367 | |
Revolving loans | 14,679 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 674,041 | 574,852 |
Loans >= 90 Days and Accruing | 0 | |
Construction and land development | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 10,629 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 10,629 | |
Construction and land development | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Construction and land development | Greater than 90 Days | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Construction and land development | Total past due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 10,629 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 10,629 | |
Construction and land development | Current | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 205,062 | |
2021 | 298,583 | |
2020 | 126,364 | |
2019 | 24,323 | |
2018 | 3,663 | |
2017 and Prior | 1,367 | |
Revolving loans | 4,050 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 663,412 | |
Construction and land development | Greater Than 90 Days And Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Residential real estate | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 64,935 | |
2021 | 82,525 | |
2020 | 124,057 | |
2019 | 46,254 | |
2018 | 38,417 | |
2017 and Prior | 35,590 | |
Revolving loans | 1,894 | |
Revolving loans converted to term loans | 195 | |
Total Loans Receivable | 393,867 | 360,046 |
Residential real estate | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 142 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 142 | |
Residential real estate | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Residential real estate | Greater than 90 Days | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 120 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 120 | |
Residential real estate | Total past due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 142 | |
2021 | 120 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 262 | |
Residential real estate | Current | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 64,793 | |
2021 | 82,405 | |
2020 | 124,057 | |
2019 | 46,254 | |
2018 | 38,417 | |
2017 and Prior | 35,590 | |
Revolving loans | 1,894 | |
Revolving loans converted to term loans | 195 | |
Total Loans Receivable | 393,605 | |
Residential real estate | Greater Than 90 Days And Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 120 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 120 | |
Multifamily real estate | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 78,194 | |
2021 | 33,272 | |
2020 | 5,363 | |
2019 | 12,005 | |
2018 | 3,078 | |
2017 and Prior | 822 | |
Revolving loans | 126,518 | |
Revolving loans converted to term loans | 16,543 | |
Total Loans Receivable | 275,795 | 240,230 |
Multifamily real estate | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Multifamily real estate | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 4,566 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 4,566 | |
Multifamily real estate | Greater than 90 Days | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Multifamily real estate | Total past due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 4,566 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 4,566 | |
Multifamily real estate | Current | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 73,628 | |
2021 | 33,272 | |
2020 | 5,363 | |
2019 | 12,005 | |
2018 | 3,078 | |
2017 and Prior | 822 | |
Revolving loans | 126,518 | |
Revolving loans converted to term loans | 16,543 | |
Total Loans Receivable | 271,229 | |
Multifamily real estate | Greater Than 90 Days And Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Paycheck Protection Program ("PPP") | ||
Financing Receivable, Past Due [Line Items] | ||
Loans >= 90 Days and Accruing | 0 | |
Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 11,629 | |
2021 | 2,512 | |
2020 | 1,914 | |
2019 | 221 | |
2018 | 110 | |
2017 and Prior | 30 | |
Revolving loans | 49,311 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 65,727 | 63,605 |
Loans >= 90 Days and Accruing | $ 0 | |
Consumer | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Consumer | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Consumer | Greater than 90 Days | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Consumer | Total past due | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 0 | |
Consumer | Current | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 11,629 | |
2021 | 2,512 | |
2020 | 1,914 | |
2019 | 221 | |
2018 | 110 | |
2017 and Prior | 30 | |
Revolving loans | 49,311 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | 65,727 | |
Consumer | Greater Than 90 Days And Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total Loans Receivable | $ 0 |
Loans and Allowance for Loan Losses ("ALLL") - Non-Accrual Loans (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | $ 947,968 | |
2021 | 979,744 | |
2020 | 487,940 | |
2019 | 251,714 | |
2018 | 177,653 | |
2017 and Prior | 135,788 | |
Revolving loans | 1,489,743 | |
Revolving loans converted to term loans | 207,096 | |
Total non-accrual loans | $ 31,432 | |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 408 | |
2021 | 2,593 | |
2020 | 0 | |
2019 | 6 | |
2018 | 1,383 | |
2017 and Prior | 700 | |
Revolving loans | 11,638 | |
Revolving loans converted to term loans | 195 | |
Total non-accrual loans | 16,923 | |
Nonaccrual Loans with no related Allowance | 15,347 | |
Commercial and Industrial | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 287,163 | |
2021 | 290,791 | |
2020 | 84,139 | |
2019 | 58,334 | |
2018 | 58,108 | |
2017 and Prior | 21,992 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 57,309 | |
Total non-accrual loans | 4,858 | |
Commercial and Industrial | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 0 | |
2021 | 104 | |
2020 | 0 | |
2019 | 6 | |
2018 | 1,383 | |
2017 and Prior | 700 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total non-accrual loans | 2,193 | |
Nonaccrual Loans with no related Allowance | 2,193 | |
Commercial and Industrial lines of credit | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 831,187 | |
Revolving loans converted to term loans | 0 | |
Commercial and Industrial lines of credit | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 6,475 | |
Revolving loans converted to term loans | 0 | |
Total non-accrual loans | 6,475 | |
Nonaccrual Loans with no related Allowance | 6,475 | |
Energy | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 7,446 | |
2021 | 403 | |
2020 | 246 | |
2019 | 0 | |
2018 | 7 | |
2017 and Prior | 0 | |
Revolving loans | 170,565 | |
Revolving loans converted to term loans | 188 | |
Total non-accrual loans | 16,148 | |
Energy | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 5,163 | |
Revolving loans converted to term loans | 0 | |
Total non-accrual loans | 5,163 | |
Nonaccrual Loans with no related Allowance | 3,587 | |
Commercial real estate | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 293,539 | |
2021 | 271,658 | |
2020 | 145,857 | |
2019 | 110,577 | |
2018 | 74,270 | |
2017 and Prior | 75,987 | |
Revolving loans | 295,589 | |
Revolving loans converted to term loans | 132,861 | |
Total non-accrual loans | 10,222 | |
Commercial real estate | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 408 | |
2021 | 2,489 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total non-accrual loans | 2,897 | |
Nonaccrual Loans with no related Allowance | 2,897 | |
Construction and land development | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 205,062 | |
2021 | 298,583 | |
2020 | 126,364 | |
2019 | 24,323 | |
2018 | 3,663 | |
2017 and Prior | 1,367 | |
Revolving loans | 14,679 | |
Revolving loans converted to term loans | 0 | |
Total non-accrual loans | 0 | |
Construction and land development | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total non-accrual loans | 0 | |
Nonaccrual Loans with no related Allowance | 0 | |
Residential and Multifamily Real Estate [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Total non-accrual loans | 204 | |
Residential real estate | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 64,935 | |
2021 | 82,525 | |
2020 | 124,057 | |
2019 | 46,254 | |
2018 | 38,417 | |
2017 and Prior | 35,590 | |
Revolving loans | 1,894 | |
Revolving loans converted to term loans | 195 | |
Residential real estate | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 195 | |
Total non-accrual loans | 195 | |
Nonaccrual Loans with no related Allowance | 195 | |
Multifamily real estate | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 78,194 | |
2021 | 33,272 | |
2020 | 5,363 | |
2019 | 12,005 | |
2018 | 3,078 | |
2017 and Prior | 822 | |
Revolving loans | 126,518 | |
Revolving loans converted to term loans | 16,543 | |
Multifamily real estate | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total non-accrual loans | 0 | |
Nonaccrual Loans with no related Allowance | 0 | |
Paycheck Protection Program ("PPP") | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Total non-accrual loans | 0 | |
Consumer | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 11,629 | |
2021 | 2,512 | |
2020 | 1,914 | |
2019 | 221 | |
2018 | 110 | |
2017 and Prior | 30 | |
Revolving loans | 49,311 | |
Revolving loans converted to term loans | 0 | |
Total non-accrual loans | $ 0 | |
Consumer | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 and Prior | 0 | |
Revolving loans | 0 | |
Revolving loans converted to term loans | 0 | |
Total non-accrual loans | 0 | |
Nonaccrual Loans with no related Allowance | $ 0 |
Loans and Allowance for Loan Losses ("ALLL") - Allowance for Credit Losses (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2022 |
|||
Allowance for loan losses | ||||
Beginning balance | [1] | $ 55,817 | $ 58,375 | |
Charge-offs | (2,642) | (10,702) | ||
Recoveries | 766 | 6,641 | ||
Provision (credit) | 1,923 | 3,297 | ||
Ending balance | [1] | 55,864 | 55,864 | |
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 5,320 | 0 | ||
Provision (credit) | 1,411 | 1,547 | ||
Ending balance | 6,731 | 6,731 | ||
Accounting Standards Update 201613 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Allowance for loan losses | ||||
Beginning balance | (1,747) | |||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 5,184 | |||
Commercial | ||||
Allowance for loan losses | ||||
Beginning balance | 10,920 | 20,352 | ||
Charge-offs | 0 | (790) | ||
Recoveries | 0 | 755 | ||
Provision (credit) | 417 | 1,233 | ||
Ending balance | 11,337 | 11,337 | ||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 63 | 0 | ||
Provision (credit) | 34 | (10) | ||
Ending balance | 97 | 97 | ||
Commercial | Accounting Standards Update 201613 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Allowance for loan losses | ||||
Beginning balance | (10,213) | |||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 107 | |||
Commercial line of credit | ||||
Allowance for loan losses | ||||
Beginning balance | 11,267 | 0 | ||
Charge-offs | (2,000) | (3,971) | ||
Recoveries | 9 | 1,788 | ||
Provision (credit) | 2,781 | 5,374 | ||
Ending balance | 12,057 | 12,057 | ||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 0 | 0 | ||
Provision (credit) | 0 | (44) | ||
Ending balance | 0 | 0 | ||
Commercial line of credit | Accounting Standards Update 201613 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Allowance for loan losses | ||||
Beginning balance | 8,866 | |||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 44 | |||
Energy | ||||
Allowance for loan losses | ||||
Beginning balance | 6,428 | 9,229 | ||
Charge-offs | (642) | (4,609) | ||
Recoveries | 0 | 1,754 | ||
Provision (credit) | (958) | (1,507) | ||
Ending balance | 4,828 | 4,828 | ||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 470 | 0 | ||
Provision (credit) | 78 | 283 | ||
Ending balance | 548 | 548 | ||
Energy | Accounting Standards Update 201613 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Allowance for loan losses | ||||
Beginning balance | (39) | |||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 265 | |||
Commercial real estate | ||||
Allowance for loan losses | ||||
Beginning balance | 17,042 | 19,119 | ||
Charge-offs | 0 | (1,102) | ||
Recoveries | 748 | 2,333 | ||
Provision (credit) | (1,335) | (3,709) | ||
Ending balance | 16,455 | 16,455 | ||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 657 | 0 | ||
Provision (credit) | 19 | (35) | ||
Ending balance | 676 | 676 | ||
Commercial real estate | Accounting Standards Update 201613 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Allowance for loan losses | ||||
Beginning balance | (186) | |||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 711 | |||
Construction and land development | ||||
Allowance for loan losses | ||||
Beginning balance | 3,918 | 3,749 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision (credit) | 669 | 921 | ||
Ending balance | 4,587 | 4,587 | ||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 4,016 | 0 | ||
Provision (credit) | 1,304 | 1,406 | ||
Ending balance | 5,320 | 5,320 | ||
Construction and land development | Accounting Standards Update 201613 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Allowance for loan losses | ||||
Beginning balance | (83) | |||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 3,914 | |||
Residential real estate | ||||
Allowance for loan losses | ||||
Beginning balance | 3,134 | 5,598 | ||
Charge-offs | 0 | (217) | ||
Recoveries | 0 | 0 | ||
Provision (credit) | 103 | 408 | ||
Ending balance | 3,237 | 3,237 | ||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 4 | 0 | ||
Provision (credit) | (2) | (3) | ||
Ending balance | 2 | 2 | ||
Residential real estate | Accounting Standards Update 201613 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Allowance for loan losses | ||||
Beginning balance | (2,552) | |||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 5 | |||
Multifamily real estate | ||||
Allowance for loan losses | ||||
Beginning balance | 2,427 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision (credit) | 246 | 208 | ||
Ending balance | 2,673 | 2,673 | ||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 109 | 0 | ||
Provision (credit) | (25) | (53) | ||
Ending balance | 84 | 84 | ||
Multifamily real estate | Accounting Standards Update 201613 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Allowance for loan losses | ||||
Beginning balance | 2,465 | |||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 137 | |||
Consumer | ||||
Allowance for loan losses | ||||
Beginning balance | 681 | 328 | ||
Charge-offs | 0 | (13) | ||
Recoveries | 9 | 11 | ||
Provision (credit) | 0 | 369 | ||
Ending balance | 690 | 690 | ||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | 1 | 0 | ||
Provision (credit) | 3 | 3 | ||
Ending balance | $ 4 | 4 | ||
Consumer | Accounting Standards Update 201613 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Allowance for loan losses | ||||
Beginning balance | (5) | |||
Allowance for Credit Losses on Off-Balance Sheet | ||||
Beginning balance | $ 1 | |||
|
Loans and Allowance for Loan Losses ("ALLL") - Collateral Dependent Loans (Details) - Asset Pledged as Collateral [Member] $ in Thousands |
Sep. 30, 2022
USD ($)
|
---|---|
Financing Receivable, Impaired [Line Items] | |
Amortized Cost of Collateral Dependent Loans | $ 20,302 |
Related Allowance for Credit Losses | 157 |
Amortized Cost of Collateral Dependent Loans with no related Allowance | 20,145 |
Commercial and Industrial | |
Financing Receivable, Impaired [Line Items] | |
Amortized Cost of Collateral Dependent Loans | 2,668 |
Related Allowance for Credit Losses | 0 |
Amortized Cost of Collateral Dependent Loans with no related Allowance | 2,668 |
Commercial and Industrial lines of credit | |
Financing Receivable, Impaired [Line Items] | |
Amortized Cost of Collateral Dependent Loans | 5,519 |
Related Allowance for Credit Losses | 0 |
Amortized Cost of Collateral Dependent Loans with no related Allowance | 5,519 |
Energy | |
Financing Receivable, Impaired [Line Items] | |
Amortized Cost of Collateral Dependent Loans | 9,626 |
Related Allowance for Credit Losses | 157 |
Amortized Cost of Collateral Dependent Loans with no related Allowance | 9,469 |
Commercial real estate | |
Financing Receivable, Impaired [Line Items] | |
Amortized Cost of Collateral Dependent Loans | 2,489 |
Related Allowance for Credit Losses | 0 |
Amortized Cost of Collateral Dependent Loans with no related Allowance | $ 2,489 |
Loans and Allowance for Loan Losses ("ALLL") - Internal Risk Ratings - Previous GAAP (Details) $ in Thousands |
Dec. 31, 2021
USD ($)
|
---|---|
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | $ 4,269,620 |
Pass | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 4,014,490 |
Special Mention | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 176,422 |
Substandard | Performing | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 47,275 |
Substandard | Nonperforming | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 28,879 |
Doubtful | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 2,554 |
Loss | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Commercial and Industrial | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 1,401,681 |
Commercial and Industrial | Pass | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 1,356,883 |
Commercial and Industrial | Special Mention | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 16,201 |
Commercial and Industrial | Substandard | Performing | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 23,739 |
Commercial and Industrial | Substandard | Nonperforming | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 4,858 |
Commercial and Industrial | Doubtful | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Commercial and Industrial | Loss | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Energy | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 278,860 |
Energy | Pass | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 184,269 |
Energy | Special Mention | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 73,196 |
Energy | Substandard | Performing | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 5,246 |
Energy | Substandard | Nonperforming | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 13,595 |
Energy | Doubtful | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 2,554 |
Energy | Loss | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Commercial real estate | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 1,281,095 |
Commercial real estate | Pass | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 1,172,323 |
Commercial real estate | Special Mention | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 86,768 |
Commercial real estate | Substandard | Performing | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 11,782 |
Commercial real estate | Substandard | Nonperforming | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 10,222 |
Commercial real estate | Doubtful | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Commercial real estate | Loss | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Construction and land development | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 578,758 |
Construction and land development | Pass | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 578,758 |
Construction and land development | Special Mention | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Construction and land development | Substandard | Performing | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Construction and land development | Substandard | Nonperforming | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Construction and land development | Doubtful | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Construction and land development | Loss | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Residential and Multifamily Real Estate [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 600,816 |
Residential and Multifamily Real Estate [Member] | Pass | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 593,847 |
Residential and Multifamily Real Estate [Member] | Special Mention | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 257 |
Residential and Multifamily Real Estate [Member] | Substandard | Performing | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 6,508 |
Residential and Multifamily Real Estate [Member] | Substandard | Nonperforming | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 204 |
Residential and Multifamily Real Estate [Member] | Doubtful | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Residential and Multifamily Real Estate [Member] | Loss | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Paycheck Protection Program ("PPP") | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 64,805 |
Paycheck Protection Program ("PPP") | Pass | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 64,805 |
Paycheck Protection Program ("PPP") | Special Mention | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Paycheck Protection Program ("PPP") | Substandard | Performing | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Paycheck Protection Program ("PPP") | Substandard | Nonperforming | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Paycheck Protection Program ("PPP") | Doubtful | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Paycheck Protection Program ("PPP") | Loss | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Consumer | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 63,605 |
Consumer | Pass | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 63,605 |
Consumer | Special Mention | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Consumer | Substandard | Performing | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Consumer | Substandard | Nonperforming | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Consumer | Doubtful | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | 0 |
Consumer | Loss | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Loans | $ 0 |
Loans and Allowance for Loan Losses ("ALLL") - Allowance for loan losses - Previous GAAP (Details) - USD ($) $ in Thousands |
Dec. 31, 2021 |
Sep. 30, 2021 |
Jun. 30, 2021 |
Dec. 31, 2020 |
---|---|---|---|---|
Period end allowance for loan losses allocated to: | ||||
Individually evaluated for impairment | $ 5,597 | |||
Collectively evaluated for impairment | 52,778 | |||
Ending balance | 58,375 | $ 64,152 | $ 75,493 | $ 75,295 |
Allocated to loans: | ||||
Individually evaluated for impairment | 56,927 | |||
Collectively evaluated for impairment | 4,212,693 | |||
Ending balance | 4,269,620 | |||
Commercial and Industrial | ||||
Period end allowance for loan losses allocated to: | ||||
Individually evaluated for impairment | 333 | |||
Collectively evaluated for impairment | 20,019 | |||
Ending balance | 20,352 | 23,921 | 28,433 | 24,693 |
Allocated to loans: | ||||
Individually evaluated for impairment | 5,739 | |||
Collectively evaluated for impairment | 1,395,942 | |||
Ending balance | 1,401,681 | |||
Energy | ||||
Period end allowance for loan losses allocated to: | ||||
Individually evaluated for impairment | 2,100 | |||
Collectively evaluated for impairment | 7,129 | |||
Ending balance | 9,229 | 12,548 | 17,849 | 18,341 |
Allocated to loans: | ||||
Individually evaluated for impairment | 16,204 | |||
Collectively evaluated for impairment | 262,656 | |||
Ending balance | 278,860 | |||
Commercial real estate | ||||
Period end allowance for loan losses allocated to: | ||||
Individually evaluated for impairment | 3,164 | |||
Collectively evaluated for impairment | 15,955 | |||
Ending balance | 19,119 | 18,945 | 19,181 | 22,354 |
Allocated to loans: | ||||
Individually evaluated for impairment | 31,597 | |||
Collectively evaluated for impairment | 1,249,498 | |||
Ending balance | 1,281,095 | |||
Construction and land development | ||||
Period end allowance for loan losses allocated to: | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 3,749 | |||
Ending balance | 3,749 | 3,191 | 3,885 | 3,612 |
Allocated to loans: | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 578,758 | |||
Ending balance | 578,758 | |||
Residential and Multifamily Real Estate [Member] | ||||
Period end allowance for loan losses allocated to: | ||||
Ending balance | 5,598 | 5,270 | 5,826 | 5,842 |
Allocated to loans: | ||||
Ending balance | 600,816 | |||
Residential real estate | ||||
Period end allowance for loan losses allocated to: | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 5,598 | |||
Allocated to loans: | ||||
Individually evaluated for impairment | 3,387 | |||
Collectively evaluated for impairment | 597,429 | |||
Paycheck Protection Program ("PPP") | ||||
Period end allowance for loan losses allocated to: | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 0 | |||
Ending balance | 0 | 0 | 0 | 0 |
Allocated to loans: | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 64,805 | |||
Ending balance | 64,805 | |||
Consumer | ||||
Period end allowance for loan losses allocated to: | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 328 | |||
Ending balance | 328 | $ 277 | $ 319 | $ 453 |
Allocated to loans: | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 63,605 | |||
Ending balance | $ 63,605 |
Loans and Allowance for Loan Losses ("ALLL") - Loan Aging Analysis - Previous GAAP (Details) $ in Thousands |
Dec. 31, 2021
USD ($)
|
---|---|
Financing Receivable, Past Due [Line Items] | |
Loans | $ 4,269,620 |
Loans >= 90 Days and Accruing | 90 |
30-59 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,671 |
60-89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,858 |
90 Days or More | |
Financing Receivable, Past Due [Line Items] | |
Loans | 5,681 |
Total past due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 9,210 |
Current | |
Financing Receivable, Past Due [Line Items] | |
Loans | 4,260,410 |
Commercial | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,401,681 |
Loans >= 90 Days and Accruing | 90 |
Commercial | 30-59 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 183 |
Commercial | 60-89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 499 |
Commercial | 90 Days or More | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,037 |
Commercial | Total past due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,719 |
Commercial | Current | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,399,962 |
Energy | |
Financing Receivable, Past Due [Line Items] | |
Loans | 278,860 |
Loans >= 90 Days and Accruing | 0 |
Energy | 30-59 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Energy | 60-89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Energy | 90 Days or More | |
Financing Receivable, Past Due [Line Items] | |
Loans | 4,644 |
Energy | Total past due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 4,644 |
Energy | Current | |
Financing Receivable, Past Due [Line Items] | |
Loans | 274,216 |
Commercial real estate | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,281,095 |
Loans >= 90 Days and Accruing | 0 |
Commercial real estate | 30-59 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 85 |
Commercial real estate | 60-89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 992 |
Commercial real estate | 90 Days or More | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Commercial real estate | Total past due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,077 |
Commercial real estate | Current | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,280,018 |
Construction and land development | |
Financing Receivable, Past Due [Line Items] | |
Loans | 578,758 |
Loans >= 90 Days and Accruing | 0 |
Construction and land development | 30-59 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 966 |
Construction and land development | 60-89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 117 |
Construction and land development | 90 Days or More | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Construction and land development | Total past due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 1,083 |
Construction and land development | Current | |
Financing Receivable, Past Due [Line Items] | |
Loans | 577,675 |
Residential and Multifamily Real Estate [Member] | |
Financing Receivable, Past Due [Line Items] | |
Loans | 600,816 |
Loans >= 90 Days and Accruing | 0 |
Residential and Multifamily Real Estate [Member] | 30-59 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 437 |
Residential and Multifamily Real Estate [Member] | 60-89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 151 |
Residential and Multifamily Real Estate [Member] | 90 Days or More | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Residential and Multifamily Real Estate [Member] | Total past due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 588 |
Residential and Multifamily Real Estate [Member] | Current | |
Financing Receivable, Past Due [Line Items] | |
Loans | 600,228 |
Paycheck Protection Program ("PPP") | |
Financing Receivable, Past Due [Line Items] | |
Loans | 64,805 |
Loans >= 90 Days and Accruing | 0 |
Paycheck Protection Program ("PPP") | 30-59 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Paycheck Protection Program ("PPP") | 60-89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Paycheck Protection Program ("PPP") | 90 Days or More | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Paycheck Protection Program ("PPP") | Total past due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Paycheck Protection Program ("PPP") | Current | |
Financing Receivable, Past Due [Line Items] | |
Loans | 64,805 |
Consumer | |
Financing Receivable, Past Due [Line Items] | |
Loans | 63,605 |
Loans >= 90 Days and Accruing | 0 |
Consumer | 30-59 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Consumer | 60-89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 99 |
Consumer | 90 Days or More | |
Financing Receivable, Past Due [Line Items] | |
Loans | 0 |
Consumer | Total past due | |
Financing Receivable, Past Due [Line Items] | |
Loans | 99 |
Consumer | Current | |
Financing Receivable, Past Due [Line Items] | |
Loans | $ 63,506 |
Loans and Allowance for Loan Losses ("ALLL") - Loans Individually Evaluated for Impairment (Details) $ in Thousands |
Dec. 31, 2021
USD ($)
|
---|---|
Recorded Balance | |
Total | $ 56,927 |
Unpaid Principal Balance | |
Total | 67,089 |
Specific Allowance | 5,597 |
Commercial and Industrial | |
Recorded Balance | |
Loans without a specific valuation | 4,659 |
Loans with a specific valuation | 1,080 |
Total | 5,739 |
Unpaid Principal Balance | |
Loans without a specific valuation | 4,740 |
Loans with a specific valuation | 1,080 |
Total | 5,820 |
Specific Allowance | 333 |
Energy | |
Recorded Balance | |
Loans without a specific valuation | 3,509 |
Loans with a specific valuation | 12,695 |
Total | 16,204 |
Unpaid Principal Balance | |
Loans without a specific valuation | 7,322 |
Loans with a specific valuation | 17,977 |
Total | 25,299 |
Specific Allowance | 2,100 |
Commercial real estate | |
Recorded Balance | |
Loans without a specific valuation | 1,729 |
Loans with a specific valuation | 29,868 |
Total | 31,597 |
Unpaid Principal Balance | |
Loans without a specific valuation | 1,729 |
Loans with a specific valuation | 30,854 |
Total | 32,583 |
Specific Allowance | 3,164 |
Construction and land development | |
Recorded Balance | |
Loans without a specific valuation | 0 |
Loans with a specific valuation | 0 |
Total | 0 |
Unpaid Principal Balance | |
Loans without a specific valuation | 0 |
Loans with a specific valuation | 0 |
Total | 0 |
Specific Allowance | 0 |
Residential and Multifamily Real Estate [Member] | |
Recorded Balance | |
Total | 3,387 |
Unpaid Principal Balance | |
Total | 3,387 |
Specific Allowance | 0 |
Residential real estate | |
Recorded Balance | |
Loans without a specific valuation | 3,387 |
Loans with a specific valuation | 0 |
Unpaid Principal Balance | |
Loans without a specific valuation | 3,387 |
Loans with a specific valuation | 0 |
Paycheck Protection Program ("PPP") | |
Recorded Balance | |
Loans without a specific valuation | 0 |
Loans with a specific valuation | 0 |
Total | 0 |
Unpaid Principal Balance | |
Loans without a specific valuation | 0 |
Loans with a specific valuation | 0 |
Total | 0 |
Specific Allowance | 0 |
Consumer | |
Recorded Balance | |
Loans without a specific valuation | 0 |
Loans with a specific valuation | 0 |
Total | 0 |
Unpaid Principal Balance | |
Loans without a specific valuation | 0 |
Loans with a specific valuation | 0 |
Total | 0 |
Specific Allowance | $ 0 |
Loans and Allowance for Loan Losses ("ALLL") - Loan Loss Activity - Previous GAAP (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended |
---|---|---|
Sep. 30, 2021 |
Sep. 30, 2021 |
|
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning balance | $ 75,493 | $ 75,295 |
Provision | (10,000) | 1,000 |
Charge-offs | (1,575) | (12,407) |
Recoveries | 234 | 264 |
Ending balance | 64,152 | 64,152 |
Commercial and Industrial | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning balance | 28,433 | 24,693 |
Provision | (3,666) | 10,881 |
Charge-offs | (1,071) | (11,903) |
Recoveries | 225 | 250 |
Ending balance | 23,921 | 23,921 |
Energy | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning balance | 17,849 | 18,341 |
Provision | (4,798) | (5,290) |
Charge-offs | (503) | (503) |
Recoveries | 0 | 0 |
Ending balance | 12,548 | 12,548 |
Commercial real estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning balance | 19,181 | 22,354 |
Provision | (236) | (3,409) |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Ending balance | 18,945 | 18,945 |
Construction and land development | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning balance | 3,885 | 3,612 |
Provision | (694) | (421) |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Ending balance | 3,191 | 3,191 |
Residential and Multifamily Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning balance | 5,826 | 5,842 |
Provision | (561) | (577) |
Charge-offs | 0 | 0 |
Recoveries | 5 | 5 |
Ending balance | 5,270 | 5,270 |
Paycheck Protection Program ("PPP") | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning balance | 0 | 0 |
Provision | 0 | 0 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Ending balance | 0 | 0 |
Consumer | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning balance | 319 | 453 |
Provision | (45) | (184) |
Charge-offs | (1) | (1) |
Recoveries | 4 | 9 |
Ending balance | $ 277 | $ 277 |
Loans and Allowance for Loan Losses ("ALLL") - Narrative (Details) |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2022
USD ($)
|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2022
USD ($)
|
Sep. 30, 2021
USD ($)
|
Dec. 31, 2021
USD ($)
|
|
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Accrued Interest | $ 15,000,000 | $ 15,000,000 | $ 10,000,000 | ||
Drivers of Quarterly Change in the ACL | |||||
ACL increase (decrease) | (2,500,000) | ||||
Charge-offs | 2,642,000 | 10,702,000 | |||
Increase in loans | 2,100,000 | 7,400,000 | |||
Net charge offs | 1,900,000 | 4,100,000 | |||
Increase decrease in reserves on impaired loans | (200,000) | (5,800,000) | |||
Interest income recognized on nonaccrual loans | $ 900,000 | 1,300,000 | |||
Loans were restructured TDR guidance | 0 | 0 | |||
Outstanding Balance | $ 34,000,000 | 34,000,000 | $ 40,000,000 | ||
Financing Receivable, Impaired Interest Income | $ 600,000 | $ 1,900,000 | |||
Financing receivable, average balance of impaired loans | $ 95,000,000 | $ 97,000,000 | |||
Maximum [Member] | |||||
Drivers of Quarterly Change in the ACL | |||||
ACL increase (decrease) | 100,000 | ||||
Commercial real estate | |||||
Drivers of Quarterly Change in the ACL | |||||
Charge-offs | 0 | 1,102,000 | |||
Energy | |||||
Drivers of Quarterly Change in the ACL | |||||
Charge-offs | $ 642,000 | $ 4,609,000 | |||
Commercial | |||||
Drivers of Quarterly Change in the ACL | |||||
Percentage of loans guranteed | 100.00% | 100.00% |
Derivatives and Hedging - Outstanding Derivatives (Details) - Interest Rate Swap [Member] |
9 Months Ended | |
---|---|---|
Sep. 30, 2022
USD ($)
Item
|
Dec. 31, 2021
USD ($)
Item
|
|
Not Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Number of Instruments | Item | 48 | 54 |
Notional Amount | $ 409,000,000 | $ 535,000,000 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Number of Instruments | Item | 1 | 5 |
Notional Amount | $ 250,000,000 | $ 100,000,000 |
Dericative instruments to be reclassified to interest expense in next 12 months | $ 100,000 | |
Maximum exposure period | 6 years 7 months 6 days |
Derivatives and Hedging - Fair Value of Derivatives (Details) - Interest rate products - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Derivative [Line Items] | ||
Asset Derivatives | $ 11,430 | $ 11,308 |
Liability Derivatives | 18,322 | 11,887 |
Not Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Asset Derivatives | 11,430 | 11,305 |
Liability Derivatives | 11,431 | 11,322 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Asset Derivatives | 0 | 3 |
Liability Derivatives | $ 6,891 | $ 565 |
Derivatives and Hedging - Effect of Cash Flow Hedge Accounting on AOCI (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
Derivative [Line Items] | ||||
Gain or (Loss) Recognized in OCI on Derivative | $ (5,345) | $ 0 | $ (2,295) | $ 0 |
Designated as Hedging Instrument [Member] | Interest rate products | ||||
Derivative [Line Items] | ||||
Gain or (Loss) Recognized in OCI on Derivative | (7,076) | (3,036) | ||
Gain or (Loss) Recognized in OCI Included Component | (7,076) | (3,036) | ||
Gain or (Loss) Recognized in OCI Excluded Component | $ 0 | 0 | ||
Interest Income [Member] | Designated as Hedging Instrument [Member] | Interest rate products | ||||
Derivative [Line Items] | ||||
Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income | Interest Income | |||
Gain or (Loss) Recognized in OCI on Derivative | $ (6,891) | (6,891) | ||
Gain or (Loss) Recognized in OCI Included Component | (6,891) | (6,891) | ||
Gain or (Loss) Recognized in OCI Excluded Component | $ 0 | 0 | ||
Interest Expense [Member] | Designated as Hedging Instrument [Member] | Interest rate products | ||||
Derivative [Line Items] | ||||
Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income | Interest expense | |||
Gain or (Loss) Recognized in OCI on Derivative | $ (185) | 3,855 | ||
Gain or (Loss) Recognized in OCI Included Component | (185) | 3,855 | ||
Gain or (Loss) Recognized in OCI Excluded Component | $ 0 | $ 0 |
Time Deposits and Borrowings (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Time deposits | ||
Within One Year | $ 487,378 | |
One to Two Years | 244,594 | |
Two to Three Years | 673 | |
Three to Four Years | 1,722 | |
Four to Five Years | 15,804 | |
After Five Years | 0 | |
Total | 750,171 | $ 624,387 |
FHLB borrowings | ||
Total | 205,349 | $ 236,600 |
Trust preferred securities | ||
Within One Year | 0 | |
One to Two Years | 0 | |
Two to Three Years | 0 | |
Three to Four Years | 0 | |
Four to Five Years | 0 | |
After Five Years | 1,048 | |
Total | 1,048 | |
Time Deposit Maturities And Borrowings, Fiscal Year Maturity [Abstract] | ||
Within One Year | 590,127 | |
One to Two Years | 244,594 | |
Two to Three Years | 673 | |
Three to Four Years | 6,822 | |
Four to Five Years | 15,804 | |
After Five Years | 98,548 | |
Total | 956,568 | |
Contract value | 2,600 | |
Federal Funds Purchased [Member] | ||
FHLB borrowings | ||
One to Two Years | 0 | |
Two to Three Years | 0 | |
FHLB borrowings [Member] | ||
FHLB borrowings | ||
Within One Year | 35,000 | |
One to Two Years | 0 | |
Two to Three Years | 0 | |
Three to Four Years | 5,100 | |
Four to Five Years | 0 | |
After Five Years | 97,500 | |
Total | 137,600 | |
FHLB line of credit [Member] | ||
FHLB borrowings | ||
Within One Year | 67,749 | |
One to Two Years | 0 | |
Two to Three Years | 0 | |
Three to Four Years | 0 | |
Four to Five Years | 0 | |
After Five Years | 0 | |
Total | $ 67,749 |
Change in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Unrealized gains (losses) on available-for-sale securities | $ (4) | $ 1,046 | $ (43) | $ 1,043 |
Less: tax expense (benefit) effect | 4,410 | 5,660 | 12,625 | 11,831 |
Net Income | 17,280 | 21,000 | 49,653 | 48,612 |
Reclassification out of Accumulated Other Comprehensive Income | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Unrealized gains (losses) on available-for-sale securities | (4) | 1,046 | (43) | 1,043 |
Less: tax expense (benefit) effect | (1) | 256 | (11) | 255 |
Net Income | $ (3) | $ 790 | $ (32) | $ 788 |
Regulatory Matters (Details) $ in Thousands |
Sep. 30, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
---|---|---|
Regulatory Matters [Abstract] | ||
Capital conservation buffer | 0.025 | |
Total Capital to Risk-Weighted Assets | ||
Actual, amount | $ 728,639 | $ 704,544 |
Actual, ratio | 0.121 | 0.136 |
Minimum capital required, Basel III fully phased-in, amount | $ 632,742 | $ 544,060 |
Minimum capital required, Basel III fully phased-in, ratio | 0.105 | 0.105 |
Tier I Capital to Risk-Weighted Assets | ||
Actual, amount | $ 666,044 | $ 646,169 |
Actual, ratio | 0.111 | 0.125 |
Minimum capital required, Basel III fully phased-in, amount | $ 512,220 | $ 440,430 |
Minimum capital required, Basel III fully phased-in, ratio | 0.085 | 0.085 |
Common Equity Tier 1 to Risk-Weighted Assets | ||
Actual, amount | $ 664,997 | $ 645,160 |
Actual, ratio | 0.110 | 0.125 |
Minimum capital required, Basel III fully phased-in, amount | $ 421,828 | $ 362,707 |
Minimum capital required, Basel III fully phased-in, ratio | 7.00% | 7.00% |
Tier I Capital to Average Assets | ||
Actual, amount | $ 666,044 | $ 646,169 |
Actual, ratio | 0.114 | 0.118 |
Minimum capital required, Basel III fully phased-in, amount | $ 233,086 | $ 218,510 |
Minimum capital required, Basel III fully phased-in, ratio | 0.040 | 0.040 |
Bank | ||
Total Capital to Risk-Weighted Assets | ||
Actual, amount | $ 712,631 | $ 681,980 |
Actual, ratio | 0.118 | 0.132 |
Minimum capital required, Basel III fully phased-in, amount | $ 632,414 | $ 543,708 |
Minimum capital required, Basel III fully phased-in, ratio | 0.105 | 0.105 |
Required to be considered well capitalized, amount | $ 602,299 | $ 517,817 |
Required to be considered well capitalized, ratio | 0.100 | 0.100 |
Tier I Capital to Risk-Weighted Assets | ||
Actual, amount | $ 650,036 | $ 623,605 |
Actual, ratio | 0.108 | 0.120 |
Minimum capital required, Basel III fully phased-in, amount | $ 511,954 | $ 440,144 |
Minimum capital required, Basel III fully phased-in, ratio | 0.085 | 0.085 |
Required to be considered well capitalized, amount | $ 481,839 | $ 414,253 |
Required to be considered well capitalized, ratio | 0.080 | 0.080 |
Common Equity Tier 1 to Risk-Weighted Assets | ||
Actual, amount | $ 650,036 | $ 623,605 |
Actual, ratio | 0.108 | 0.120 |
Minimum capital required, Basel III fully phased-in, amount | $ 421,609 | $ 362,472 |
Minimum capital required, Basel III fully phased-in, ratio | 7.00% | 7.00% |
Required to be considered well capitalized, amount | $ 391,495 | $ 336,581 |
Required to be considered well capitalized, ratio | 6.50% | 6.50% |
Tier I Capital to Average Assets | ||
Actual, amount | $ 650,036 | $ 623,605 |
Actual, ratio | 0.112 | 0.114 |
Minimum capital required, Basel III fully phased-in, amount | $ 233,019 | $ 218,366 |
Minimum capital required, Basel III fully phased-in, ratio | 0.040 | 0.040 |
Required to be considered well capitalized, amount | $ 291,274 | $ 272,958 |
Required to be considered well capitalized, ratio | 0.050 | 0.050 |
Stock-Based Compensation - Narrative (Details) |
3 Months Ended | 9 Months Ended |
---|---|---|
Sep. 30, 2022
USD ($)
shares
|
Sep. 30, 2022
USD ($)
shares
|
|
Performance Based Stock Awards | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Award vesting period | 3 years | |
Granted (in shares) | 66,667 | |
Award performance metric period | 3 years | |
Unrecognized compensation cost | $ | $ 1,000,000 | $ 1,000,000 |
Period for recognizing stock-based compensation expense | 2 years 1 month 6 days | |
Performance Based Stock Awards | Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Award payout percentage | 0.00% | |
Performance Based Stock Awards | Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Award payout percentage | 150.00% | |
Restricted Stock Units and Awards | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Award vesting period | 1 year | |
Granted (in shares) | 259,627 | |
Unrecognized compensation cost | $ | $ 4,000,000 | $ 4,000,000 |
Period for recognizing stock-based compensation expense | 1 year 10 months 24 days | |
2018 Omnibus Equity Incentive Plan | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares authorized for future issuance (in shares) | 1,441,879 | 1,441,879 |
Stock-Based Compensation - Total Stock Based Compensation (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | $ 1,069 | $ 1,149 | $ 3,304 | $ 3,373 |
Stock appreciation rights | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | 75 | 150 | 262 | 584 |
Performance-based stock awards | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | 200 | 75 | 611 | 337 |
Restricted stock units and awards | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | 763 | 895 | 2,336 | 2,394 |
Employee stock purchase plan | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | $ 31 | $ 29 | $ 95 | $ 58 |
Stock-Based Compensation - Status and Changes in Performance-Based Awards (Details) - Performance Based Stock Awards |
9 Months Ended |
---|---|
Sep. 30, 2022
$ / shares
shares
| |
Number of Shares | |
Beginning balance (in shares) | shares | 98,352 |
Granted (in shares) | shares | 66,667 |
Vested (in shares) | shares | 0 |
Forfeited (in shares) | shares | (24,944) |
Ending balance (in shares) | shares | 140,075 |
Weighted-Average Grant Date Fair Value | |
Beginning balance (in dollars per share) | $ / shares | $ 13.59 |
Granted (in dollars per share) | $ / shares | 16.04 |
Vested (in dollars per share) | $ / shares | 0 |
Forfeited (in dollars per share) | $ / shares | 15.03 |
Ending balance (in dollars per share) | $ / shares | $ 14.51 |
Stock-Based Compensation - Status and Changes in RSUs and RSAs (Details) - Restricted Stock Units and Awards |
9 Months Ended |
---|---|
Sep. 30, 2022
$ / shares
shares
| |
Number of Shares | |
Beginning balance (in shares) | shares | 383,630 |
Granted (in shares) | shares | 259,627 |
Vested (in shares) | shares | (197,536) |
Forfeited (in shares) | shares | (35,612) |
Ending balance (in shares) | shares | 410,109 |
Weighted-Average Grant Date Fair Value | |
Beginning balance (in dollars per share) | $ / shares | $ 13.52 |
Granted (in dollars per share) | $ / shares | 14.97 |
Vested (in dollars per share) | $ / shares | 13.83 |
Forfeited (in dollars per share) | $ / shares | 14.22 |
Ending balance (in dollars per share) | $ / shares | $ 14.22 |
Income Tax - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
Income Tax [Abstract] | ||||
Computed at the statutory rate (21%) | $ 4,555 | $ 5,598 | $ 13,078 | $ 12,693 |
Statutory Income Tax Rate, Percent | 21.00% | |||
Increase (decrease) resulting from | ||||
Tax-exempt income | (903) | (828) | $ 2,647 | 2,830 |
Nondeductible expenses | 72 | 55 | 265 | 145 |
State income taxes | 740 | 912 | 2,164 | 2,090 |
Equity based compensation | (47) | (40) | (201) | (157) |
Other adjustments | (7) | (37) | (34) | (110) |
Actual tax expense | $ 4,410 | $ 5,660 | $ 12,625 | $ 11,831 |
Income Tax - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Deferred tax assets | ||
Net unrealized loss on securities available-for-sale | $ 27,374 | $ 0 |
Allowance for loan losses | 15,067 | 14,051 |
Lease incentive | 467 | 508 |
Loan fees | 3,645 | 3,227 |
Accrued expenses | 2,438 | 2,735 |
Deferred compensation | 1,969 | 2,418 |
State tax credit | 0 | 1,033 |
Other | 495 | 2,057 |
Total deferred tax asset | 51,455 | 26,029 |
Deferred tax liability | ||
Net unrealized gain on securities available-for-sale | 0 | (6,967) |
FHLB stock basis | (735) | (757) |
Premises and equipment | (2,209) | (2,602) |
Other | (1,410) | (1,229) |
Total deferred tax liability | (4,354) | (11,555) |
Net deferred tax asset | $ 47,101 | $ 14,474 |
Disclosures about Fair Value of Financial Instruments - Nonrecurring Measurements (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | $ 20,302 | $ 38,046 |
Foreclosed assets held-for-sale | 1,588 | 1,148 |
Fair Value, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | 20,302 | 38,046 |
Foreclosed assets held-for-sale | 1,588 | 1,148 |
Fair Value, Nonrecurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | 0 | 0 |
Foreclosed assets held-for-sale | 0 | 0 |
Fair Value, Nonrecurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | 0 | 0 |
Foreclosed assets held-for-sale | 0 | 0 |
Fair Value, Nonrecurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | 20,302 | 38,046 |
Foreclosed assets held-for-sale | $ 1,588 | $ 1,148 |
Disclosures about Fair Value of Financial Instruments - Unobservable Inputs (Details) $ in Thousands |
Sep. 30, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
---|---|---|
Fair Value, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | $ 20,302 | $ 38,046 |
Foreclosed assets held-for-sale | 1,588 | 1,148 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | 20,302 | 38,046 |
Foreclosed assets held-for-sale | 1,588 | 1,148 |
Level 3 | Fair Value, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | 20,302 | 38,046 |
Foreclosed assets held-for-sale | $ 1,588 | $ 1,148 |
Level 3 | Marketability discount | Market comparable properties | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans, measurement input | (21) | |
Foreclosed assets held-for-sale, measurement input | (11) | |
Level 3 | Marketability discount | Market comparable properties | Fair Value, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans, measurement input | (26) | |
Foreclosed assets held-for-sale, measurement input | (10) | |
Level 3 | Marketability discount | Market comparable properties | Minimum | Fair Value, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans, measurement input | 0 | 7 |
Level 3 | Marketability discount | Market comparable properties | Maximum | Fair Value, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans, measurement input | 100 | 100 |
Disclosures about Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Financial Assets | ||
Available-for-sale securities | $ 656,527 | $ 745,969 |
Restricted equity securities | 9,277 | 11,927 |
Financial Liabilities | ||
Federal Home Loan Bank advances | 205,349 | 236,600 |
Carrying Amount | ||
Financial Assets | ||
Cash and cash equivalents | 309,135 | 482,727 |
Available-for-sale securities | 656,527 | 745,969 |
Loans, net of allowance for loan losses | 4,621,782 | 4,197,838 |
Restricted equity securities | 9,277 | 11,927 |
Interest receivable | 20,553 | 16,023 |
Equity securities | 4,022 | 2,642 |
Derivative assets | 11,430 | 11,308 |
Total financial assets | 5,632,726 | 5,468,434 |
Financial Liabilities | ||
Deposits | 4,987,515 | 4,683,597 |
Federal Home Loan Bank line of credit | 67,749 | |
Federal Home Loan Bank advances | 137,600 | 236,600 |
Other borrowings | 1,048 | 1,009 |
Interest payable | 2,318 | 1,336 |
Derivative liabilities | 18,322 | 11,887 |
Total financial liabilities | 5,214,552 | 4,934,429 |
Estimate of Fair Value Measurement | Level 1 | ||
Financial Assets | ||
Cash and cash equivalents | 309,135 | 482,727 |
Available-for-sale securities | 0 | 0 |
Loans, net of allowance for loan losses | 0 | 0 |
Restricted equity securities | 0 | 0 |
Interest receivable | 0 | 0 |
Equity securities | 0 | 0 |
Derivative assets | 0 | 0 |
Total financial assets | 309,135 | 482,727 |
Financial Liabilities | ||
Deposits | 1,113,934 | 1,163,224 |
Federal Home Loan Bank line of credit | 0 | |
Federal Home Loan Bank advances | 0 | 0 |
Other borrowings | 0 | 0 |
Interest payable | 0 | 0 |
Derivative liabilities | 0 | 0 |
Total financial liabilities | 1,113,934 | 1,163,224 |
Estimate of Fair Value Measurement | Level 2 | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Available-for-sale securities | 656,527 | 745,969 |
Loans, net of allowance for loan losses | 0 | 0 |
Restricted equity securities | 0 | 0 |
Interest receivable | 20,553 | 16,023 |
Equity securities | 1,969 | 2,209 |
Derivative assets | 11,430 | 11,308 |
Total financial assets | 690,479 | 775,509 |
Financial Liabilities | ||
Deposits | 0 | 0 |
Federal Home Loan Bank line of credit | 67,749 | |
Federal Home Loan Bank advances | 130,684 | 241,981 |
Other borrowings | 1,875 | 2,318 |
Interest payable | 2,318 | 1,336 |
Derivative liabilities | 18,322 | 11,887 |
Total financial liabilities | 220,948 | 257,522 |
Estimate of Fair Value Measurement | Level 3 | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Available-for-sale securities | 0 | 0 |
Loans, net of allowance for loan losses | 4,599,659 | 4,178,268 |
Restricted equity securities | 9,277 | 11,927 |
Interest receivable | 0 | 0 |
Equity securities | 2,053 | 433 |
Derivative assets | 0 | 0 |
Total financial assets | 4,610,989 | 4,190,628 |
Financial Liabilities | ||
Deposits | 3,731,781 | 3,482,218 |
Federal Home Loan Bank line of credit | 0 | |
Federal Home Loan Bank advances | 0 | 0 |
Other borrowings | 0 | 0 |
Interest payable | 0 | 0 |
Derivative liabilities | 0 | 0 |
Total financial liabilities | $ 3,731,781 | $ 3,482,218 |
Commitments and Credit Risk (Details) - USD ($) $ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Loss Contingencies [Line Items] | ||
Total commitments | $ 2,703,263 | $ 1,951,163 |
Commitments to originate loans | ||
Loss Contingencies [Line Items] | ||
Total commitments | 353,783 | 118,651 |
Standby letters of credit | ||
Loss Contingencies [Line Items] | ||
Total commitments | 56,791 | 51,114 |
Lines of credit | ||
Loss Contingencies [Line Items] | ||
Total commitments | 2,288,742 | 1,768,231 |
Future lease commitments | ||
Loss Contingencies [Line Items] | ||
Total commitments | 0 | 11,100 |
Commitments related to investment fund [Member] | ||
Loss Contingencies [Line Items] | ||
Total commitments | $ 3,947 | $ 2,067 |
Leases - Narrative (Details) |
3 Months Ended | 9 Months Ended |
---|---|---|
Sep. 30, 2022
USD ($)
|
Sep. 30, 2022
USD ($)
|
|
Lessee Lease Description [Line Items] | ||
Right-of-use asset | $ 29,000,000 | $ 29,000,000 |
Operating Lease, Weighted Average Remaining Lease Term | 12 years 3 months 18 days | 12 years 3 months 18 days |
Operating Lease, Weighted Average Discount Rate, Percent | 2.39% | 2.39% |
Operating cash flows paid for operating lease | $ 700,000 | $ 2,200,000 |
Operating cash flows paid for finance lease | 100,000 | 200,000 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 0 | 0 |
Operating and finance lease liabilities | $ 32,000,000 | $ 32,000,000 |
Minimum [Member] | ||
Lessee Lease Description [Line Items] | ||
Lessee, Operating Lease, Remaining Lease Term | 1 year | 1 year |
Lessee, Operating Lease, Renewal Term | 5 years | 5 years |
Maximum [Member] | ||
Lessee Lease Description [Line Items] | ||
Lessee, Operating Lease, Remaining Lease Term | 20 years | 20 years |
Lessee, Operating Lease, Renewal Term | 20 years | 20 years |
Leases - Components of operating lease expense (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended |
---|---|---|
Sep. 30, 2022 |
Sep. 30, 2022 |
|
Components of operating lease expense | ||
Finance lease amortization of right-of-use asset | $ 69 | $ 161 |
Finance lease interest on lease liability | 69 | 115 |
Operating lease expense | 603 | 1,932 |
Variable lease expense | 297 | 855 |
Short-term lease expense | 5 | 15 |
Total lease expense | $ 1,043 | $ 3,078 |
Leases - Future minimum commitments (Details) $ in Thousands |
Sep. 30, 2022
USD ($)
|
---|---|
Future minimum commitments due under these lease agreements | |
Remainder of 2022 | $ 762 |
2023 | 3,070 |
2024 | 2,793 |
2025 | 2,804 |
2026 | 2,836 |
Thereafter | 15,243 |
Total lease payments | 27,508 |
Less imputed interest | 2,965 |
Total | 24,543 |
Finance Lease, Liability, to be Paid [Abstract] | |
Remainder of 2022 | 123 |
2023 | 490 |
2024 | 490 |
2025 | 490 |
2026 | 490 |
Thereafter | 8,823 |
Total lease payments | 10,906 |
Less imputed interest | 3,232 |
Total | $ 7,674 |
Stock Warrants (Details) - $ / shares |
9 Months Ended | |
---|---|---|
Sep. 30, 2022 |
Dec. 31, 2021 |
|
Stock warrants [Abstract] | ||
Warrants outstanding (in shares) | 80,000 | 113,500 |
Strike price (in dollars per share) | $ 5.00 | |
Number of warrants exercised | 33,500 | |
Conversion of Stock, Shares Issued | 33,500 | |
Number of warrants expire next fiscal year | 80,000 |
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