10-Q

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

___________________

FORM 10-Q

___________________

☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

for the quarterly period ended: March 31, 2020

☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

for the transition period from                to              

Commission File Number: 000-10661

___________________

TriCo Bancshares

(Exact Name of Registrant as Specified in Its Charter)

___________________

CA	94-2792841
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification Number)

63 Constitution Drive

Chico, California 95973

(Address of Principal Executive Offices)(Zip Code)

(530) 898-0300

(Registrant’s Telephone Number, Including Area Code)

___________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	TCBK	The NASDAQ Stock Market

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “accelerated filer”, “large accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☒	Large accelerated filer	☐	Accelerated filer
☐	Non-accelerated filer	☐	Smaller reporting company
☐	Emerging growth company​​​​​​​

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

Indicate the number of shares outstanding for each of the issuer’s classes of common stock, as of the latest practical date:

Common stock, no par value: 29,721,523 shares outstanding as of May 8, 2020.

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Table of Contents

TriCo Bancshares

FORM 10-Q

TABLE OF CONTENTS

	Page
PART I – FINANCIAL INFORMATION	2
Item 1 – Financial Statements (Unaudited)	2
Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations	39
Item 3 – Quantitative and Qualitative Disclosures about Market Risk	54
Item 4 – Controls and Procedures	54
PART II – OTHER INFORMATION	56
Item 1 – Legal Proceedings	56
Item 1A – Risk Factors	56
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds	57
Item 6 – Exhibits	58
Signatures	59

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PART I – FINANCIAL INFORMATION

Item 1. Financial Statements (unaudited)

TRICO BANCSHARES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data; unaudited)

	March 31, 2020		December 31, 2019
Assets:
Cash and due from banks	$	95,364	$	92,816
Cash at Federal Reserve and other banks	90,102		183,691
Cash and cash equivalents	185,466		276,507
Investment securities:
Marketable equity securities	3,007		2,960
Available for sale debt securities, net of allowance for credit losses of $—	1,001,999		950,138
Held to maturity debt securities, net of allowance for credit losses of $—	359,770		375,606
Restricted equity securities	17,250		17,250
Loans held for sale	2,695		5,265
Loans	4,379,062		4,307,366
Allowance for credit losses	(57,911)		(30,616)
Total loans, net	4,321,151		4,276,750
Premises and equipment, net	86,304		87,086
Cash value of life insurance	118,543		117,823
Accrued interest receivable	18,575		18,897
Goodwill	220,872		220,872
Other intangible assets, net	22,126		23,557
Operating leases, right-of-use	30,221		27,879
Other assets	86,330		70,591
Total assets	$	6,474,309	$	6,471,181
Liabilities and Shareholders’ Equity:
Liabilities:
Deposits:
Noninterest-bearing demand	$	1,883,143	$	1,832,665
Interest-bearing	3,519,555		3,534,329
Total deposits	5,402,698		5,366,994
Accrued interest payable	1,986		2,407
Operating lease liability	30,007		27,540
Other liabilities	96,560		91,984
Other borrowings	19,309		18,454
Junior subordinated debt	57,323		57,232
Total liabilities	5,607,883		5,564,611
Commitments and contingencies (Note 7)
Shareholders’ equity:
Preferred stock, no par value: 1,000,000 shares authorized, zero issued and outstanding at March 31, 2020 and December 31, 2019	—		—
Common stock, no par value: 50,000,000 shares authorized; 29,973,516 and 30,523,824 issued and outstanding at March 31, 2020 and December 31, 2019, respectively	534,623		543,998
Retained earnings	356,935		367,794
Accumulated other comprehensive income (loss), net of tax	(25,132)		(5,222)
Total shareholders’ equity	866,426		906,570
Total liabilities and shareholders’ equity	$	6,474,309	$	6,471,181

See accompanying notes to unaudited condensed consolidated financial statements.

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TRICO BANCSHARES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data; unaudited)

	Three months ended March 31,
	2020		2019
Interest and dividend income:
Loans, including fees	$	56,258	$	54,398
Investments:
Taxable securities	8,211		10,555
Tax exempt securities	904		1,073
Dividends	361		360
Interest bearing cash at Federal Reserve and other banks	783		1,071
Total interest and dividend income	66,517		67,457
Interest expense:
Deposits	2,551		2,719
Other borrowings	5		13
Junior subordinated debt	769		855
Total interest expense	3,325		3,587
Net interest income	63,192		63,870
Provision for (reversal of) credit losses	8,000		(1,600)
Net interest income after credit loss provision (reversal)	55,192		65,470
Non-interest income:
Service charges and fees	9,126		9,070
Gain on sale of loans	891		412
Gain on sale of investment securities	—		—
Asset management and commission income	916		642
Increase in cash value of life insurance	720		775
Other	167		904
Total non-interest income	11,820		11,803
Non-interest expense:
Salaries and related benefits	27,272		25,128
Other	17,547		20,324
Total non-interest expense	44,819		45,452
Income before provision for income taxes	22,193		31,821
Provision for income taxes	6,072		9,095
Net income	$	16,121	$	22,726
Per share data:
Basic earnings per share	$	0.53	$	0.75
Diluted earnings per share	$	0.53	$	0.74
Dividends per share	$	0.22	$	0.19

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)

(In thousands; unaudited)

	Three months ended March 31,
	2020		2019
Net income	$	16,121	$	22,726
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on available for sale securities arising during the period	(20,822)		8,952
Change in minimum pension liability	912		—
Other comprehensive income (loss)	(19,910)		8,952
Comprehensive income (loss)	$	(3,789)	$	31,678

See accompanying notes to unaudited condensed consolidated financial statements

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TRICO BANCSHARES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(In thousands, except share and per share data; unaudited)

	Shares of Common Stock	Common Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total
Balance at January 1, 2019	30,417,223	$	541,762	$	303,490	$	(17,879)	$	827,373
Net income				22,726				22,726
Other comprehensive income						8,952		8,952
Stock options exercised	41,000	647						647
RSU vesting		278						278
PSU vesting		119						119
RSUs released	355							—
PSUs released	—							—
Repurchase of common stock	(26,159)	(466)		(569)				(1,035)
Dividends paid ($0.19 per share)				(5,782)				(5,782)
Three months ended March 31, 2019	30,432,419	$	542,340	$	319,865	$	(8,927)	$	853,278
Balance at January 1, 2020	30,523,824	$	543,998	$	367,794	$	(5,222)	$	906,570
Cumulative change from adoption of ASU 2016-13	—	—		(12,983)		—		(12,983)
Balance at January 1, 2020 (as adjusted for change in accounting principle)	30,523,824	$	543,998	354,811		(5,222)		893,587
Net income				16,121				16,121
Other comprehensive loss						(19,910)		(19,910)
Stock options exercised	8,000	148						148
RSU vesting		297						297
PSU vesting		142						142
RSUs released	362							—
PSUs released	—							—
Repurchase of common stock	(558,670)	(9,962)		(7,333)				(17,295)
Dividends paid ($0.22 per share)				(6,664)				(6,664)
Three months ended March 31, 2020	29,973,516	$	534,623	$	356,935	$	(25,132)	$	866,426

See accompanying notes to unaudited condensed consolidated financial statements.

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TRICO BANCSHARES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands; unaudited) 

	For the three months ended March 31,
	2020		2019
Operating activities:
Net income	$	16,121	$	22,726
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment, and amortization	1,618		1,838
Amortization of intangible assets	1,431		1,431
Provision for (reversal of) credit losses	8,000		(1,600)
Amortization of investment securities premium, net	509		571
Originations of loans for resale	(28,394)		(18,119)
Proceeds from sale of loans originated for resale	31,629		16,689
Gain on sale of loans	(891)		(412)
Change in market value of mortgage servicing rights	1,258		645
Gain on transfer of loans to foreclosed assets	—		(98)
Gain on sale of foreclosed assets	(41)		(99)
Operating lease expense payments	(1,237)		(1,218)
Loss on disposal of fixed assets	—		38
Increase in cash value of life insurance	(720)		(775)
Gain on life insurance death benefit	—		(32)
Gain on marketable equity securities	(47)		(36)
Equity compensation vesting expense	439		397
Change in:
Interest receivable	322		(1,019)
Interest payable	(421)		198
Amortization of operating lease ROUA	1,362		480
Other assets and liabilities, net	2,609		450
Net cash from operating activities	33,547		22,055
Investing activities:
Proceeds from maturities of securities available for sale	20,212		15,133
Proceeds from maturities of securities held to maturity	15,592		13,684
Purchases of securities available for sale	(101,899)		(1,238)
Loan origination and principal collections, net	(70,833)		(11,351)
Proceeds from sale of other real estate owned	353		278
Proceeds from sale of premises and equipment	—		11
Purchases of premises and equipment	(761)		(1,650)
Net cash from (used by) investing activities	(137,336)		14,867
Financing activities:
Net change in deposits	35,704		63,796
Net change in other borrowings	855		(3,373)
Repurchase of common stock, net of option exercises	(17,147)		(388)
Dividends paid	(6,664)		(5,782)
Net cash used from financing activities	12,748		54,253
Net change in cash and cash equivalents	(91,041)		91,175
Cash and cash equivalents, beginning of period	276,507		227,533
Cash and cash equivalents, end of period	$	185,466	$	318,708
Supplemental disclosure of noncash activities:
Unrealized gain (loss) on securities available for sale	$	(29,561)	$	12,710
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes	148		647
Obligations incurred in conjunction with leased assets	3,393		32,006
Loans transferred to foreclosed assets	—		116
Supplemental disclosure of cash flow activity:
Cash paid for interest expense	3,746		3,389
Cash paid for income taxes	—		—

See accompanying notes to unaudited condensed consolidated financial statements.

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NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 1 - Summary of Significant Accounting Policies

Description of Business and Basis of Presentation

TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 29 California counties. The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp.

The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1,792,000 are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheet. The subordinated debentures issued and guaranteed by the Company and held by the Capital Trusts are reflected as debt on the Company’s consolidated balance sheet.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading.

Segment and Significant Group Concentration of Credit Risk

The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout northern and central California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking.

Geographical Descriptions

For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo.

Reclassification

Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’equity.

Cash and Cash Equivalents

Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents.

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Allowance for Credit Losses - Held to Maturity Securities

The Company measures expected credit losses on held-to-maturity debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on held-to-maturity debt securities totaled $920,000 at March 31, 2020 and is excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current condition and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption. Management has separately evaluated its HTM investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. As a result of this evaluation, management determined that the expected credit losses associated with these securities is not significant for financial reporting purposes and therefore, no allowance for credit losses has been recognized.

Loans

Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses.

Allowance for Credit Losses - Loans

The allowance for credit losses (ACL) is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate.

Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels and U.S. gross domestic product.

A loan is considered to be collateral dependent when repayment is expected to be provided substantially through the operation or sale of the collateral. The ACL on collateral dependent loans is measured using the fair value of the underlying collateral, adjusted for costs to sell when applicable, less the amortized cost basis of the financial asset. If the value of underlying collateral is determined to be less than the recorded amount of the loan, a charge-off will be taken. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, is considered to be a troubled debt restructuring (TDR). The ACL on a TDR is measured using the same method as all other portfolio loans, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the ACL is determined by discounting the expected future cash flows at the original interest rate of the loan.

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The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss:

One to four residential term loans: The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

Commercial mortgage loans:

Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss.

Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment.

Consumer loans:

Home equity lines of credit (HELOC): Similar to residential real estate term loans, HELOC performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC.

Home equity loans: Similar to residential real estate term loans but secured by a deed of trust in a position that is junior to the primary lien holder.

Consumer - Automobile and other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by

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rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

Commercial:

Commercial and industrial: Primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits.

Leases: The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above.

Agriculture: Repayment is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural loans may involve a greater degree of risk than other types of loans.

Construction: While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors.

Unfunded commitments: The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the balance sheet in other liabilities.

Accounting Standards Adopted in 2020

On January 1, 2020, the Company adopted ASU 2016-03 Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized costs, including loan receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in certain leases. In addition, ASC 326 made changes to the accounting for available for sale debt securities. One such change is to require increases or decreases in credit losses be presented as an allowance rather than as a write-down on available for sale debt securities, based on management's intent to sell the security or likelihood the Company will be required to sell the security, before recovery of the amortized cost basis.

The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for the reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (PCD) that were previously classified as purchase credit impaired (PCI) and accounted for under ASC 310-30. In accordance with the Standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. The remaining noncredit discount (based on the adjusted amortized costs basis) will be accreted into interest income at the effective interest rate as of adoption. The Company recognized an increase in the ACL for loans totaling $18,913,000, including a reclassification of $481,000 from discounts on acquired loans to the allowance for credit losses, as a cumulative effect adjustment from change in accounting policies, with a corresponding decrease in retained earnings, net of $5,449,000 in taxes

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of $12,983,000. Management has separately evaluated its held-to-maturity investment securities from obligations of state and political subdivisions and determined that no loss reserves were required.

On January 1, 2020 the Company adopted ASU 2017-04, Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment (Topic 350), which eliminates step two of the goodwill impairment test (the hypothetical purchase price allocation used to determine the implied fair value of goodwill) when step one (determining if the carrying value of a reporting unit exceeds its fair value) is failed. Instead, entities simply will compare the fair value of a reporting unit to its carrying amount and record goodwill impairment for the amount by which the reporting unit’s carrying amount exceeds its fair value. There was no goodwill impairment recorded during the quarter ended March 31, 2020.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the Coronavirus Disease 2019 (COVID-19) pandemic. The CARES Act provides optional temporary relief from troubled debt restructuring and impairment accounting requirements for loan modifications related to the COVID-19 pandemic made during the period from March 1, 2020 to the earlier of December 31, 2020 or 60 days after the national emergency concerning COVID-19 declared by the President terminates. The election of any such suspension would be applicable for the term of the loan modification but solely with respect to any modification (including a forbearance arrangement, an interest rate modification, a repayment plan and any other similar arrangement that defers or delays the payment of principal or interest) that occurs during the applicable period for a loan that was not more than 30 days past due as of December 31, 2019. The ability to suspend TDR accounting does not apply to any adverse impact on the credit of a borrower that is not related to the COVID-19 pandemic nor does it apply to borrowers.

Accounting Standards Pending Adoption

FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The guidance also promotes consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU No. 2019-12 will be effective for the Company beginning January 1, 2021 and is not expected to have a significant impact on the Company’s consolidated financial statements.

FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform by providing optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected if certain criteria are met. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Amendments in this ASU are effective for the Company as of March 12, 2020 through December 31, 2022.

Note 2 - Investment Securities

The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables:

	March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
			(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	447,736	$	21,482	$	—	$	—	$	469,218
Obligations of states and political subdivisions	110,564		3,561		—		—		114,125
Corporate bonds	2,437		138		—		—		2,575
Asset backed securities	467,436		8		(51,363)		—		416,081
Total debt securities available for sale	$	1,028,173	$	25,189	$	(51,363)	$	—	$	1,001,999

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	March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Allowance for Credit Losses
	(in thousands)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	345,944	$	17,352	$	(4)	$	363,292	$	—
Obligations of states and political subdivisions	13,826		324		—		14,150		—
Total debt securities held to maturity	$	359,770	$	17,676	$	(4)	$	377,442	$	—

	December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
			(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	466,139	$	7,261	$	(420)	$	472,980
Obligations of states and political subdivisions	106,373		3,229		(1)		109,601
Corporate bonds	2,430		102		—		2,532
Asset backed securities	371,809		129		(6,913)		365,025
Total debt securities available for sale	$	946,751	$	10,721	$	(7,334)	$	950,138
Debt Securities Held to Maturity
Obligations of U.S. government agencies	361,785		6,072		(480)		367,377
Obligations of states and political subdivisions	13,821		327		—		14,148
Total debt securities held to maturity	$	375,606	$	6,399	$	(480)	$	381,525

There were no sales of investment securities during the three months ended March 31, 2020 and 2019, respectively. Investment securities with an aggregate carrying value of $463,165,000 and $466,321,000 at March 31, 2020 and December 31, 2019, respectively, were pledged as collateral for specific borrowings, lines of credit or local agency deposits.

The amortized cost and estimated fair value of debt securities at March 31, 2020 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. At March 31, 2020, obligations of U.S. government corporations and agencies with a cost basis totaling $793,680,000 consist almost entirely of residential real estate mortgage-backed securities whose contractual maturity, or principal repayment, will follow the repayment of the underlying mortgages. For purposes of the following table, the entire outstanding balance of these mortgage-backed securities issued by U.S. government corporations and agencies is categorized based on final maturity date. At March 31, 2020, the Company estimates the average remaining life of these mortgage-backed securities issued by U.S. government corporations and agencies to be approximately 3.24 years. Average remaining life is defined as the time span after which the principal balance has been reduced by half.

As of March 31, 2020, the contractual final maturity for available for sale and held to maturity investment securities is as follows:

Debt Securities	Available for Sale				Held to Maturity
(in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year	$	604	$	607	$	1,279	$	1,285
Due after one year through five years	18,264		18,958		—		—
Due after five years through ten years	114,545		103,673		22,271		23,136
Due after ten years	894,760		878,761		336,220		353,021
Totals	$	1,028,173	$	1,001,999	$	359,770	$	377,442

Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and

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length of time that individual securities have been in a continuous unrealized loss position, were as follows:

	Less than 12 months				12 months or more				Total
March 31, 2020:	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
					(in thousands)
Debt Securities Available for Sale
Asset backed securities	$	166,612	$	(13,000)	$	248,222	$	(38,363)	$	414,834	$	(51,363)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	707	$	(4)	$	—	$	—	$	707	$	(4)

	Less than 12 months				12 months or more				Total
December 31, 2019:	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
					(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	36,709	$	(309)	$	23,852	$	(111)	$	60,561	$	(420)
Obligations of states and political subdivisions	778		(1)		—		—		778		(1)
Asset backed securities	237,463		(4,535)		99,981		(2,378)		337,444		(6,913)
Total debt securities available for sale	$	274,950	$	(4,845)	$	123,833	$	(2,489)	$	398,783	$	(7,334)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	18,813		(142)		62,952		(338)		81,765		(480)
Total debt securities held to maturity	$	18,813	$	(142)	$	62,952	$	(338)	$	81,765	$	(480)

Obligations of U.S. government agencies: Unrealized losses on investments in obligations of U.S. government agencies are caused by interest rate increases and illiquidity. The contractual cash flows of these securities are guaranteed by U.S. Government Sponsored Entities (principally Fannie Mae and Freddie Mac). It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, these investments are not considered other-than-temporarily impaired. At March 31, 2020, one debt security representing obligations of U.S. government agencies had unrealized losses with aggregate depreciation of 0.56% from the Company’s amortized cost basis. The Company evaluates if a credit loss exists by monitoring to ensure it has adequate credit support and as of March 31, 2020, the Company believes there is no expected allowance for credit losses.

Asset backed securities: The unrealized losses on investments in asset backed securities were caused by increases in required yields by investors for these types of securities. At the time of purchase, each of these securities was rated AA or AAA and through March 31, 2020 has not experienced any deterioration in credit rating. At March 31, 2020, 15 asset backed securities had unrealized losses with aggregate depreciation of 11.02% from the Company’s amortized cost basis. The Company continues to monitor these securities for changes in credit rating or other indications of credit deterioration. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of March 31, 2020.

The Company monitors credit quality of debt securities held-to-maturity through the use of credit rating. The Company monitors the credit rating on a monthly basis. The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:

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	March 31, 2020				December 31, 2019
	AAA/AA/A		BBB/BB/B		AAA/AA/A		BBB/BB/B
	(In thousands)				(In thousands)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	345,944	$	—	$	361,785	$	—
Obligations of states and political subdivisions	13,137		689		13,136		685
Total debt securities held to maturity	$	359,081	$	689	$	374,921	$	685

Note 3 – Loans

A summary of loan balances follows:

(in thousands)	March 31, 2020		December 31, 2019
Mortgage loans on real estate:
Residential 1-4 family	$	506,833	$	509,508
Commercial	2,889,183		2,818,782
Total mortgage loans on real estate	3,396,016		3,328,290
Consumer:
Home equity lines of credit	341,461		334,300
Home equity loans	27,110		28,586
Other	82,427		82,656
Total consumer loans	450,998		445,542
Commercial	290,334		283,707
Construction:
Residential	42,333		46,146
Commercial	199,381		203,681
Total construction loans	241,714		249,827
Total loans, net of deferred loan fees and discounts	$	4,379,062	$	4,307,366
Total principal balance of loans owed, net of charge-offs	$	4,420,889	$	4,351,725
Unamortized net deferred loan fees	(8,794)		(8,927)
Discounts to principal balance of loans owed, net of charge-offs	(33,033)		(35,432)
Total loans, net of unamortized deferred loan fees and discounts	$	4,379,062	$	4,307,366
Allowance for loan losses	$	(57,911)	$	(30,616)

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Note 4 – Allowance for Credit Losses

The following tables summarize the activity in the allowance for credit losses on loans, and ending balance of loans, net of unearned fees for the periods indicated:

	Allowance for Loan Losses – Three Months Ended March 31, 2020
(in thousands)	Beginning Balance		Impact of CECL Adoption		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,306	$	2,675	$	—	$	410	$	259	$	5,650
Commercial	11,995		11,848		—		194		5,216		29,253
Total mortgage loans on real estate	14,301		14,523		—		604		5,475		34,903
Consumer:
Home equity lines of credit	5,572		4,549		—		33		369		10,523
Home equity loans	611		89		—		15		(42)		673
Other	1,595		971		(130)		94		216		2,746
Total consumer loans	7,778		5,609		(130)		142		543		13,942
Commercial	5,149		(2,152)		(380)		146		1,708		4,471
Construction:
Residential	630		189		—		—		5		824
Commercial	2,758		744		—		—		269		3,771
Total construction loans	3,388		933		—		—		274		4,595
Total	$	30,616	$	18,913	$	(510)	$	892	$	8,000	$	57,911

In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At both January 1, 2020, the adoption and implementation date of ASC Topic 326, and March 31, 2020, the Company utilized a reasonable and supportable forecast period of approximately eight quarters and obtained the forecast data from publicly available sources. The Company also considered the impact of portfolio concentrations, changes in underwriting practices, imprecision in its economic forecasts, and other risk factors that might influence its loss estimation process. During the quarter ended March 31, 2020 the levels of actual and forecasted California unemployment and gross domestic product continued to deteriorate and as a result, were the primary cause for the increase in allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2020 appropriately reflected expected credit losses inherent in the loan portfolio at that date.

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	Allowance for Loan Losses – Year Ended December 31, 2019
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,676	$	(2)	$	54	$	(422)	$	2,306
Commercial	12,944		(746)		1,528		(1,731)		11,995
Total mortgage loans on real estate	15,620		(748)		1,582		(2,153)		14,301
Consumer:
Home equity lines of credit	6,042		—		504		(974)		5,572
Home equity loans	1,540		(3)		431		(1,357)		611
Other	793		(765)		321		1,246		1,595
Total consumer loans	8,375		(768)		1,256		(1,085)		7,778
Commercial	6,090		(2,123)		525		657		5,149
Construction:
Residential	464		—		—		166		630
Commercial	2,033		—		—		725		2,758
Total construction loans	2,497		—		—		891		3,388
Total	$	32,582	$	(3,639)	$	3,363	$	(1,690)	$	30,616

	Allowance for Loan Losses – Three Months Ended March 31, 2019
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,676	$	—	$	2	$	(178)	$	2,500
Commercial	12,944		—		1,381		(1,995)		12,330
Total mortgage loans on real estate	15,620		—		1,383		(2,173)		14,830
Consumer:
Home equity lines of credit	6,042		—		95		(122)		6,015
Home equity loans	1,540		—		87		(341)		1,286
Other	793		(207)		75		379		1,040
Total consumer loans	8,375		(207)		257		(84)		8,341
Commercial	6,090		(519)		168		339		6,078
Construction:
Residential	464		—		—		84		548
Commercial	2,033		—		—		234		2,267
Total construction loans	2,497		—		—		318		2,815
Total	$	32,582	$	(726)	$	1,808	$	(1,600)	$	32,064

As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including, but not limited to, trends relating to (i) the level of criticized and classified loans, (ii) net charge-offs, (iii) non-performing loans, and (iv) delinquency within the portfolio. The Company analyzes loans individually to classify the loans as to credit risk and grading. This analysis is performed annually for all outstanding balances greater than $1,000,000 and non-homogeneous loans, such as commercial real estate loans, unless other indicators, such as delinquency, trigger more frequent evaluation. Loans below the $1,000,000 threshold and homogenous in nature are evaluated as needed based on delinquency and borrower credit scores.

The Company utilizes a risk grading system to assign a risk grade to each of its loans. Loans are graded on a scale ranging from Pass to Loss. A description of the general characteristics of the risk grades is as follows:

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•Pass– This grade represents loans ranging from acceptable to very little or no credit risk. These loans typically meet most if not all policy standards in regard to: loan amount as a percentage of collateral value, debt service coverage, profitability, leverage, and working capital.

•Special Mention– This grade represents “Other Assets Especially Mentioned” in accordance with regulatory guidelines and includes loans that display some potential weaknesses which, if left unaddressed, may result in deterioration of the repayment prospects for the asset or may inadequately protect the Company’s position in the future. These loans warrant more than normal supervision and attention.

•Substandard– This grade represents “Substandard” loans in accordance with regulatory guidelines. Loans within this rating typically exhibit weaknesses that are well defined to the point that repayment is jeopardized. Loss potential is, however, not necessarily evident. The underlying collateral supporting the credit appears to have sufficient value to protect the Company from loss of principal and accrued interest, or the loan has been written down to the point where this is true. There is a definite need for a well-defined workout/rehabilitation program.

•Doubtful– This grade represents “Doubtful” loans in accordance with regulatory guidelines. An asset classified as Doubtful has all the weaknesses inherent in a loan classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and financing plans.

•Loss– This grade represents “Loss” loans in accordance with regulatory guidelines. A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan, even though some recovery may be affected in the future. The portion of the loan that is graded loss should be charged off no later than the end of the quarter in which the loss is identified.

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Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated:

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Mortgage loans on real estate:
Residential 1-4 family risk ratings
Pass	$25,698	$102,369	$59,278	$69,504	$60,063	$179,461	—	$117	$496,490
Special Mention	—	—	—	868	18	2,953	—	105	3,944
Substandard	—	—	574	996	51	4,778	—	—	6,399
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total residential 1-4 family - mortgage loans	$25,698	$102,369	$59,852	$71,368	$60,132	$187,192	$—	$222	$506,833

Mortgage loans on real estate:
Commercial risk ratings
Pass	$82,428	$457,462	$364,082	$443,054	$407,011	$967,584	$102,830	$1,501	$2,825,952
Special Mention	70	2,288	—	7,618	11,562	10,722	12,588	—	44,848
Substandard	200	1,394	1,445	1,580	3,191	9,801	772	—	18,383
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial - mortgage loans	$82,698	$461,144	$365,527	$452,252	$421,764	$988,107	$116,190	$1,501	$2,889,183

Consumer loans:
Home equity line of credit risk ratings
Pass	$2,859	$8,591	$2,967	$714	$1,561	$10,815	$304,911	$627	$333,045
Special Mention	80	—	36	46	70	644	3,524	—	4,400
Substandard	—	—	57	529	80	1,078	2,266	6	4,016
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total home equity lines of credit - consumer loans	$2,939	$8,591	$3,060	$1,289	$1,711	$12,537	$310,701	$633	$341,461

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(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Consumer loans:
Home equity loans risk ratings
Pass	$2	$580	$290	$378	$673	$21,191	$500	$16	$23,630
Special Mention	—	—	19	—	—	906	—	—	925
Substandard	153	—	—	—	145	2,257	—	—	2,555
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total home equity loans - consumer loans	$155	$580	$309	$378	$818	$24,354	$500	$16	$27,110

Consumer loans:
Other risk ratings
Pass	$7,679	$40,454	$20,465	$6,221	$1,883	$1,787	$1,747	$1,407	$81,643
Special Mention	—	53	170	141	44	158	83	2	651
Substandard	—	59	—	12	11	35	16	—	133
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total other - consumer loans	$7,679	$40,566	$20,635	$6,374	$1,938	$1,980	$1,846	$1,409	$82,427

Commercial loans:
Commercial risk ratings
Pass	$15,616	$66,145	$32,209	$25,226	$10,041	$17,434	$112,189	$5,164	$284,024
Special Mention	—	—	75	539	149	110	604	700	2,177
Substandard	—	153	382	1,236	1,262	201	725	174	4,133
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial loans	$15,616	$66,298	$32,666	$27,001	$11,452	$17,745	$113,518	$6,038	$290,334

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(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Construction loans:
Residential risk ratings
Pass	$1,725	$15,703	$17,067	$0	$3,459	$0	$0	$0	$37,954
Special Mention	—	—	—	—	4,379	—	—	—	4,379
Substandard	—	—	—	—	—	—	—	—	—
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total residential - construction loans	$1,725	$15,703	$17,067	$0	$7,838	$0	$0	$0	$42,333

Construction loans:
Commercial risk ratings
Pass	$14,081	$35,515	$82,740	$43,455	$15,793	$5,709	$0	$0	$197,293
Special Mention	—	—	—	—	—	1,845	—	—	1,845
Substandard	—	—	—	—	—	243	—	—	243
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial - construction loans	$14,081	$35,515	$82,740	$43,455	$15,793	$7,797	$0	$0	$199,381

Total loans:
Risk ratings
Pass	$150,088	$726,819	$579,098	$588,552	$500,484	$1,203,981	$522,177	$8,832	$4,280,031
Special Mention	150	2,341	300	9,212	16,222	17,338	16,799	807	63,169
Substandard	353	1,606	2,458	4,353	4,740	18,393	3,779	180	35,862
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total loans	$150,591	$730,766	$581,856	$602,117	$521,446	$1,239,712	$542,755	$9,819	$4,379,062

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(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Mortgage loans on real estate:
Residential 1-4 family risk ratings
Pass		$102,613	$63,542	$73,195	$65,050	$194,214	—	—	$498,614
Special Mention		—	—	1,408	19	3,287	—	—	4,714
Substandard		—	813	711	52	4,604	—	—	6,180
Doubtful/Loss		—	—	—	—	—	—	—	$0
Total residential 1-4 family - mortgage loans		$102,613	$64,355	$75,314	$65,121	$202,105	$—	$—	$509,508

Mortgage loans on real estate:
Commercial risk ratings
Pass	$446,597	$373,065	$421,901	$415,568	$1,010,057	$107,965	$748	$2,775,901
Special Mention	—	—	4,965	9,373	8,467	2,253	—	25,058
Substandard	830	1,454	1,591	3,216	9,937	795	—	17,823
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial - mortgage loans	$447,427	$374,519	$428,457	$428,157	$1,028,461	$111,013	$748	$2,818,782

Consumer loans:
Home equity line of credit risk ratings
Pass	$10,195	$3,436	$1,015	$1,729	$11,821	$297,458	$663	$326,317
Special Mention	—	11	47	31	665	3,398	37	4,189
Substandard	—	59	253	77	1,223	2,146	36	3,794
Doubtful/Loss	—	—	—	—	—	—	—	—
Total home equity lines of credit - consumer loans	$10,195	$3,506	$1,315	$1,837	$13,709	$303,002	$736	$334,300

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(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Consumer loans:
Home equity loans risk ratings
Pass		$607	$300	$382	$712	$22,655	$399	$37	$25,092
Special Mention		—	20	—	—	1,172	—	—	1,192
Substandard		—	—	—	156	2,146	—	—	2,302
Doubtful/Loss		—	—	—	—	—	—	—	—
Total home equity loans - consumer loans		$607	$320	$382	$868	$25,973	$399	$37	$28,586

Consumer loans:
Other risk ratings
Pass	$45,675	$23,014	$7,176	$2,245	$2,099	$1,602	$3	$81,814
Special Mention	56	182	176	52	172	81	—	719
Substandard	60	—	13	1	45	1	3	123
Doubtful/Loss	—	—	—	—	—	—	—	—
Total other - consumer loans	$45,791	$23,196	$7,365	$2,298	$2,316	$1,684	$6	$82,656

Commercial loans:
Commercial risk ratings
Pass	$77,614	$37,411	$27,195	$11,906	$17,806	$100,098	$3,623	$275,653
Special Mention	—	339	1,236	167	164	1,921	—	3,827
Substandard	—	48	1,481	1,646	393	611	48	4,227
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial loans	$77,614	$37,798	$29,912	$13,719	$18,363	$102,630	$3,671	$283,707

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(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Construction loans:
Residential risk ratings
Pass		$18,516	$12,990	$0	$3,319	$0	$6,230	$889	$41,944
Special Mention		—	—	—	4,202	—	—	—	4,202
Substandard		—	—	—	—	—	—	—	—
Doubtful/Loss		—	—	—	—	—	—	—	—
Total residential - construction loans		$18,516	$12,990	$0	$7,521	$0	$6,230	$889	$46,146

Construction loans:
Commercial risk ratings
Pass	$31,031	$72,339	$76,043	$15,654	$7,322	$975	$0	$203,364
Special Mention	—	—	—	—	317	—	—	317
Substandard	—	—	—	—	—	—	—	—
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial - construction loans	$31,031	$72,339	$76,043	$15,654	$7,639	$975	$0	$203,681

Total loans:
Risk ratings
Pass	$732,848	$586,097	$606,907	$516,183	$1,265,974	$514,727	$5,963	$4,228,699
Special Mention	56	552	7,832	13,844	14,244	7,653	37	44,218
Substandard	890	2,374	4,049	5,148	18,348	3,553	87	34,449
Doubtful/Loss	—	—	—	—	—	—	—	—
Total loans	$733,794	$589,023	$618,788	$535,175	$1,298,566	$525,933	$6,087	$4,307,366

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The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of March 31, 2020
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Mortgage loans on real estate:
Residential 1-4 family	$	699	$	—	$	1,763	$	2,462	$	504,371	$	506,833
Commercial	18,445		1,283		2,675		22,403		2,866,780		2,889,183
Total mortgage loans on real estate	19,144		1,283		4,438		24,865		3,371,151		3,396,016
Consumer:
Home equity lines of credit	572		85		1,118		1,775		339,686		341,461
Home equity loans	200		64		193		457		26,653		27,110
Other	100		12		114		226		82,201		82,427
Total consumer loans	872		161		1,425		2,458		448,540		450,998
Commercial	1,014		932		70		2,016		288,318		290,334
Construction:
Residential	—		—		—		—		42,333		42,333
Commercial	—		—		—		—		199,381		199,381
Total construction loans	—		—		—		—		241,714		241,714
Total originated loans	$	21,030	$	2,376	$	5,933	$	29,339	$	4,349,723	$	4,379,062

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of December 31, 2019
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Mortgage loans on real estate:
Residential 1-4 family	$	1,149	$	371	$	1,957	$	3,477	$	506,031	$	509,508
Commercial	581		136		2,431		3,148		2,815,634		2,818,782
Total mortgage loans on real estate	1,730		507		4,388		6,625		3,321,665		3,328,290
Consumer:
Home equity lines of credit	1,083		363		956		2,402		331,898		334,300
Home equity loans	175		216		132		523		28,063		28,586
Other	172		1		23		196		82,460		82,656
Total consumer loans	1,430		580		1,111		3,121		442,421		445,542
Commercial	652		298		24		974		282,733		283,707
Construction:
Residential	—		—		—		—		46,146		46,146
Commercial	—		—		—		—		203,681		203,681
Total construction loans	—		—		—		—		249,827		249,827
Total loans	$	3,812	$	1,385	$	5,523	$	10,720	$	4,296,646	$	4,307,366

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The following table shows the ending balance of non accrual loans by loan category as of the date indicated:

	Non Accrual Loans
	As of March 31, 2020						As of December 31, 2019
(in thousands)	Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing		Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing
Mortgage loans on real estate:
Residential 1-4 family	$	5,169	$	5,784	$	—	$	5,023	$	5,192	$	—
Commercial	5,451		5,514		—		5,316		5,316		—
Total mortgage loans on real estate	10,620		11,298		—		10,339		10,508		—
Consumer:
Home equity lines of credit	2,760		3,210		—		2,419		2,590		—
Home equity loans	1,523		1,654		—		1,574		1,626		—
Other	—		140		—		4		51		11
Total consumer loans	4,283		5,004				3,997		4,267		11
Commercial	298		1,653		—		489		2,089		—
Construction:
Residential	—		—		—		—		—		—
Commercial	—		—		—		—		—		—
Total construction	—		—		—		—		—		—
Total non accrual loans	$	15,201	$	17,955	$	—	$	14,825	$	16,864	$	11

Interest income on non accrual loans that would have been recognized during the three months ended March 31, 2020 and 2019, if all such loans had been current in accordance with their original terms, totaled $431,000 and $400,000, respectively. Interest income actually recognized on these originated loans during the three months ended March 31, 2020 and 2019 was $47,000 and $93,000, respectively.

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The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods:

	As of March 31, 2020
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Unsecured		Total
Mortgage loans on real estate:
Residential 1-4 family	$	—	$	—	$	—	$	—	$	—	$	—	$	5,815	$	—	$	—	$	—	$	—	$	—	$	5,815
Commercial	2,483		161		1,866		506		2,060		1,203		—		—		—		—		—		—		8,279
Total mortgage loans on real estate	2,483		161		1,866		506		2,060		1,203		5,815		—		—		—		—		—		14,094
Consumer:
Home equity lines of credit	—		—		—		—		—		—		—		1,936		—		—		—		—		1,936
Home equity loans	—		—		—		—		—		—		—		2,106		—		—		—		—		2,106
Other	—		—		—		—		—		156		47		—		127		—		—		4		334
Total consumer loans	—		—		—		—		—		156		47		4,042		127		—		—		4		4,376
Commercial	—		—		—		—		—		—		—		—		—		1,824		1,012		116		2,952
Total collateral dependent loans	$	2,483	$	161	$	1,866	$	506	$	2,060	$	1,359	$	5,862	$	4,042	$	127	$	1,824	$	1,012	$	120	$	21,422

	As of December 31, 2019
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Unsecured		Total
Mortgage loans on real estate:
Residential 1-4 family	$	—	$	—	$	—	$	—	$	—	$	—	$	5,293	$	—	$	—	$	—	$	—	$	—	$	5,293
Commercial	2,506		163		1,640		509		2,060		1,242		—		—		—		—		—		—		8,120
Total mortgage loans on real estate	2,506		163		1,640		509		2,060		1,242		5,293		—		—		—		—		—		13,413
Consumer:
Home equity lines of credit	—		—		—		—		—		—		—		1,808		—		—		—		—		1,808
Home equity loans	—		—		—		—		—		—		—		2,040		—		—		—		—		2,040
Other	—		—		—		—		—		—		48		—		27		—		—		4		79
Total consumer loans	—		—		—		—		—		—		48		3,848		27		—		—		4		3,927
Commercial	—		—		—		—		—		—		—		—		—		1,952		1,026		107		3,085
Total collateral dependent loans	$	2,506	$	163	$	1,640	$	509	$	2,060	$	1,242	$	5,341	$	3,848	$	27	$	1,952	$	1,026	$	111	$	20,425

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The CARES Act, in addition to providing financial assistance to both businesses and consumers, provides financial institutions the option to temporarily suspend certain requirements under GAAP related to troubled debt restructurings for a limited period of time to account for the effects of COVID-19. The banking regulatory agencies have likewise issued guidance encouraging financial institutions to work prudently with borrowers who are, or may be, unable to meet their contractual payment obligations because of the effects of COVID-19. That guidance, with concurrence of the Financial Accounting Standards Board and provisions of the CARES Act, allow modifications made on a good faith basis in response to COVID-19 to borrowers who were generally current with their payments prior to any relief, to not be treated as troubled debt restructurings. To the extent that such modifications meet the criteria previously described, such modifications are not expected to be classified as troubled debt restructurings. The following tables show certain information regarding TDRs that occurred during the periods indicated:

	TDR Information for the three months ended March 31, 2020
(dollars in thousands)	Number	Pre-mod outstanding principal balance		Post-mod outstanding principal balance		Financial impact due to TDR taken as additional provision		Number that defaulted during the period	Recorded investment of TDRs that defaulted during the period		Financial impact due to the default of previous TDR taken as charge- offs or additional provisions
Mortgage loans on real estate:
Residential 1-4 family	—	$	—	$	—	$	—	1	$	302	$	—
Commercial	3	487		549		—		—	—		—
Total mortgage loans on real estate	3	487		549		—		1	302		—
Consumer:
Home equity lines of credit	—	—		—		—		—	—		—
Home equity loans	2	172		169		—		—	—		—
Other	—	—		—		—		—	—		—
Total consumer loans	2	172		169		—		—	—		—
Commercial	1	21		20		21		—	—		—
Construction:
Residential	—	—		—		—		—	—		—
Commercial	—	—		—		—		—	—		—
Total construction loans	—	—		—		—		—	—		—
Total	6	$	680	$	738	$	21	1	$	302	$	—

	TDR Information for the three months ended March 31, 2019
(dollars in thousands)	Number	Pre-mod outstanding principal balance		Post-mod outstanding principal balance		Financial impact due to TDR taken as additional provision		Number that defaulted during the period		Recorded investment of TDRs that defaulted during the period		Financial impact due to the default of previous TDR taken as charge- offs or additional provisions
Mortgage loans on real estate:
Residential 1-4 family	—	$	163	$	162	$	—	$	—	$	—	$	—
Commercial	—	—		—		—		—		—		—
Total mortgage loans on real estate	1	163		162		—		—		—		—
Consumer:
Home equity lines of credit	—	—		—		—		—		—		—
Home equity loans	1	121		120		1		—		—		—
Other	—	—		—		—		—		—		—
Total consumer loans	1	121		120		1		—		—		—
Commercial	2	15		15		—		1		7		—
Construction:
Residential	—	—				—		—		—		—
Commercial	—	—				—		—		—		—
Total construction loans	—	—		—		—		—		—		—
Total	4	$	299	$	297	$	1	1		$	7	$	—

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The Company also modified the terms of select loans in an effort to assist borrowers that were not related to the COVID-19 pandemic. If the borrower was experiencing financial difficulty and a concession was granted, the Company considered such modifications as troubled debt restructurings. Modifications classified as TDRs can include one or a combination of the following: rate modifications, term extensions, interest only modifications, either temporary or long-term, payment modifications, and collateral substitutions/additions. The objective of the modifications was to increase loan repayments by customers and thereby reduce net charge-offs. The modified loans are included in impaired loans for purposes of determining the level of the allowance for credit losses.

For all new TDRs, an impairment analysis is conducted. If the loan is determined to be collateral dependent, any additional amount of impairment will be calculated based on the difference between estimated collectible value and the current carrying balance of the loan. This difference could result in an increased provision and is typically charged off. If the asset is determined not to be collateral dependent, the impairment is measured on the net present value difference between the expected cash flows of the restructured loan and the cash flows which would have been received under the original terms. The effect of this could result in a requirement for additional provision to the reserve. The effect of these required provisions for the period are indicated above.

Typically if a TDR defaults during the period, the loan is then considered collateral dependent and, if it was not already considered collateral dependent, an appropriate provision will be reserved or charge will be taken. The additional provisions required resulting from default of previously modified TDR’s are noted above. Loans that defaulted within the twelve month period subsequent to modification were not considered significant for financial reporting purposes.

Note 5 - Leases

The Company records a right-of-use asset (“ROUA”) on the consolidated balance sheets for those leases that convey rights to control use of identified assets for a period of time in exchange for consideration. The Company also records a lease liability on the consolidated balance sheets for the present value of future payment commitments. All of the Company’s leases are comprised of operating leases in which the Company is lessee of real estate property for branches, ATM locations, and general administration and operations. The Company elected not to include short-term leases (i.e. leases with initial terms of twelve months or less) within the ROUA and lease liability. Known or determinable adjustments to the required minimum future lease payments were included in the calculation of the Company’s ROUA and lease liability. Adjustments to the required minimum future lease payments that are variable and will not be determinable until a future period, such as changes in the consumer price index, are included as variable lease costs. Additionally, expected variable payments for common area maintenance, taxes and insurance were unknown and not determinable at lease commencement and therefore, were not included in the determination of the Company’s ROUA or lease liability.

The value of the ROUA and lease liability is impacted by the amount of the periodic payment required, length of the lease term, and the discount rate used to calculate the present value of the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a

collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was used. The lease liability is reduced based on the discounted present value of remaining payments as of each reporting period. The ROUA value is measured using the amount of lease liability and adjusted for prepaid or accrued lease payments, remaining lease incentives, unamortized direct costs (if any), and impairment (if any).

The following table presents the components of lease expense for the three months ended:

(in thousands)	March 31, 2020		March 31, 2019
Operating lease cost	$	1,294	$	1,311
Short-term lease cost	63		71
Variable lease cost	6		(5)
Sublease income	(34)		(34)
Total lease cost	$	1,329	$	1,343

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The following table presents supplemental cash flow information related to leases for the three months ended:

(in thousands)	March 31, 2020		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,237	$	1,218
ROUA obtained in exchange for operating lease liabilities	$	3,393	$	32,006

The following table presents the weighted average operating lease term and discount rate as of the periods ended:

	As of March 31, 2020		As of March 31, 2019
Weighted-average remaining lease term	10.3		9.5
Weighted-average discount rate	3.17	%	3.17	%

At March 31, 2020, future expected operating lease payments are as follows:

(in thousands)
Periods ending December 31,
2020	$	3,412
2021	4,428
2022	4,089
2023	3,410
2024	3,130
Thereafter	17,337
	35,806
Discount for present value of expected cash flows	(5,799)
Lease liability at March 31, 2020	$	30,007

Note 6 - Deposits

A summary of the balances of deposits follows (in thousands):

	March 31, 2020		December 31, 2019
Noninterest-bearing demand	$	1,883,143	$	1,832,665
Interest-bearing demand	1,243,192		1,242,274
Savings	1,857,684		1,851,549
Time certificates, $250,000 or more	111,262		129,061
Other time certificates	307,417		311,445
Total deposits	$	5,402,698	$	5,366,994

Certificate of deposit balances of $30,000,000 from the State of California were included in time certificates, over $250,000, at March 31, 2020 and December 31, 2019, respectively. The Company participates in a deposit program offered by the State of California whereby the State may make deposits at the Company’s request subject to collateral and credit worthiness constraints. The negotiated rates on these State deposits are generally more favorable than other wholesale funding sources available to the Company. Overdrawn deposit balances of $1,543,000 and $1,550,000 were classified as consumer loans at March 31, 2020 and December 31, 2019, respectively.

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Note 7 - Commitments and Contingencies

The following table presents a summary of the Bank’s commitments and contingent liabilities:

(in thousands)	March 31, 2020		December 31, 2019
Financial instruments whose amounts represent risk:
Commitments to extend credit:
Commercial loans	$	360,793	$	363,793
Consumer loans	541,848		533,576
Real estate mortgage loans	189,921		188,959
Real estate construction loans	204,170		222,998
Standby letters of credit	12,084		12,014
Deposit account overdraft privilege	109,752		110,402

Note 8 - Shareholders’ Equity

Dividends Paid

The Bank paid to the Company cash dividends in the aggregate amounts of $26,754,000 and $8,114,000 during the three months ended March 31, 2020 and 2019, respectively. The Bank is regulated by the Federal Deposit Insurance Corporation (FDIC) and the State of California Department of Business Oversight (DBO). Absent approval from the Commissioner of the DBO, California banking laws generally limit the Bank’s ability to pay dividends to the lesser of (1) retained earnings or (2) net income for the last three fiscal years, less cash distributions paid during such period.

Stock Repurchase Plan

On November 12, 2019 the Board of Directors approved the authorization to repurchase up to 1,525,000 shares of the Company's common stock (the 2019 Repurchase Plan), which approximated 5.0% of the shares outstanding as of the approval date. The actual timing of any share repurchases will be determined by the Company's management and therefore the total value of the shares to be purchased under the program is subject to change. The 2019 Repurchase Plan has no expiration date and as of and for quarter ended December 31, 2019, the Company had repurchased no shares. During the quarter ended March 31, 2020, the Company repurchased 553,869 shares with a market value of $17,139,000.

In connection with approval of the 2019 Repurchase Plan, the Company’s previous repurchase program adopted on August 21, 2007 (the 2007 Repurchase Plan) was terminated. There were no shares of common stock repurchased under the 2007 Repurchase Plan during 2019.

Stock Repurchased Under Equity Compensation Plans

The Company's shareholder-approved equity compensation plans permit employees to tender recently vested shares in lieu of cash for the payment of withholding taxes on such shares. During the three months ended March 31, 2020 and 2019, employees tendered 4,668 and 26,068 shares, respectively, of the Company’s common stock in connection with option exercises. Employees also tendered 133 and 91 shares in connection with the tax withholding requirements of other share based awards during the three months ended March 31, 2020 and 2019, respectively. In total, shares of the Company's common stock tendered had market values of $153,000 and $1,036,000 during the quarter ended March 31, 2020 and 2019, respectively. The tendered shares were retired. The market value of tendered shares is the last market trade price at closing on the day an option is exercised or the other share based award vests. Stock repurchased under equity incentive plans are not included in the total of stock repurchased under the 2019 or 2007 Stock Repurchase Plans.

Note 9 - Stock Options and Other Equity-Based Incentive Instruments

The Company’s 2009 Equity Incentive Plan (2009 Plan) expired on March 26, 2019. While no new awards can be granted under the 2009 Plan, existing grants continue to be governed by the terms, conditions and procedures set forth in any applicable award agreement. On April 16, 2019, the Board of Directors adopted the 2019 Equity Incentive Plan (2019 Plan) which was approved by shareholders on May 21, 2019. The 2019 Plan allows for up to 1,500,000 shares to be issued in connection with equity-based incentives. All grants of equity awards made during the three months ended March 31, 2020, if any, were made from the 2019 Plan.

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Stock option activity during the three months ended March 31, 2020 is summarized in the following table:

	Number of Shares	Option Price per Share	Weighted Average Exercise Price
Outstanding at December 31, 2019	160,500	$14.54 to $23.21	$	17.60
Options granted	—	—	—
Options exercised	(8,000)	$17.54 to $19.46	18.50
Options forfeited	—	—	—
Outstanding at March 31, 2020	152,500	$14.54 to $23.21	$	17.55

The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of March 31, 2020:

	Currently Exercisable		Currently Not Exercisable		Total Outstanding
Number of options	152,500		—		152,500
Weighted average exercise price	$	17.55	$	—	$	17.55
Intrinsic value (in thousands)	$	1,871	$	—	$	1,871
Weighted average remaining contractual term (yrs.)	2.6		0		2.6

As of March 31, 2020 all options outstanding are fully vested and are expected to be exercised prior to expiration. The Company did not modify any option grants during 2019 or the three months ended March 31, 2020.

Activity related to restricted stock unit awards during the three months ended March 31, 2020 is summarized in the following table:

	Service Condition Vesting RSUs	Market Plus Service Condition Vesting RSUs
Outstanding at December 31, 2019	68,597	51,312
RSUs granted	—	—
RSUs added through dividend and performance credits	521	—
RSUs released	(362)	—
RSUs forfeited/expired	(80)	(78)
Outstanding at March 31, 2020	68,676	51,234

The 68,676 of service condition vesting RSUs outstanding as of March 31, 2020 include a feature whereby each RSU outstanding is credited with a dividend amount equal to any common stock cash dividend declared and paid, and the credited amount is divided by the closing price of the Company’s stock on the dividend payable date to arrive at an additional amount of RSUs outstanding under the original grant. The dividend credits follow the same vesting requirements as the RSU awards and are not considered participating securities. The 68,676 of service condition vesting RSUs outstanding as of March 31, 2020 are expected to vest, and be released, on a weighted-average basis, over the next 1.1 years. The Company expects to recognize $1,537,782 of pre-tax compensation costs related to these service condition vesting RSUs between March 31, 2020 and their vesting dates. The Company did not modify any service condition vesting RSUs during 2019 or during the three months ended March 31, 2020.

The 51,234 of market plus service condition vesting RSUs outstanding as of March 31, 2020 are expected to vest, and be released, on a weighted-average basis, over the next 1.4 years. The Company expects to recognize $759,307 of pre-tax compensation costs related to these RSUs between March 31, 2020 and their vesting dates. As of March 31, 2020, the number of market plus service condition vesting RSUs outstanding that will actually vest, and be released, may be reduced to zero or increased to 76,851 depending on the total return of the Company’s common stock versus the total return of an index of bank stocks from the grant date to the vesting date. The Company did not modify any market plus service condition vesting RSUs during 2019 or during the three months ended March 31, 2020.

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Note 10 - Non-interest Income and Expense

The following table summarizes the Company’s non-interest income for the periods indicated:

	Three months ended March 31,
(dollars in thousands)	2020		2019
ATM and interchange fees	$	5,111	$	4,581
Service charges on deposit accounts	4,046		3,880
Other service fees	758		771
Mortgage banking service fees	469		483
Change in value of mortgage servicing rights	(1,258)		(645)
Total service charges and fees	9,126		9,070
Increase in cash value of life insurance	720		775
Asset management and commission income	916		642
Gain on sale of loans	891		412
Lease brokerage income	193		220
Sale of customer checks	124		140
Gain on sale of investment securities	—		—
Gain on marketable equity securities	47		36
Other	(197)		508
Total other non-interest income	2,694		2,733
Total non-interest income	$	11,820	$	11,803

The components of non-interest expense were as follows (in thousands):

	Three months ended March 31,
	2020		2019
Base salaries, net of deferred loan origination costs	$	17,623	$	16,757
Incentive compensation	3,101		2,567
Benefits and other compensation costs	6,548		5,804
Total salaries and benefits expense	27,272		25,128
Occupancy	3,875		3,774
Data processing and software	3,367		3,349
Equipment	1,512		1,867
Intangible amortization	1,431		1,431
Advertising	665		1,331
ATM and POS network charges	1,373		1,323
Professional fees	703		839
Telecommunications	725		797
Regulatory assessments and insurance	95		511
Postage	290		310
Operational losses	221		225
Courier service	331		270
Gain on sale of foreclosed assets	(41)		(99)
Loss on disposal of fixed assets	—		24
Other miscellaneous expense	3,000		4,372
Total other non-interest expense	17,547		20,324
Total non-interest expense	$	44,819	$	45,452

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Note 11 - Earnings Per Share

Basic earnings per share represent income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following:

	Three months ended March 31,
(in thousands)	2020		2019
Net income	$	16,121	$	22,726
Average number of common shares outstanding	30,395		30,424
Effect of dilutive stock options and restricted stock	128		234
Average number of common shares outstanding used to calculate diluted earnings per share	30,523		30,658
Options excluded from diluted earnings per share because the effect of these options was antidilutive	—		—

Note 12 – Comprehensive Income

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of other comprehensive income.

The components of other comprehensive income (loss) and related tax effects are as follows:

	Three months ended March 31,
(in thousands)	2020		2019
Unrealized holding gains (losses) on available for sale securities before reclassifications	$	(29,561)	$	12,710
Tax effect	8,739		(3,758)
Unrealized holding gains (losses) on available for sale securities, net of tax	(20,822)		8,952
Change in unfunded status of the supplemental retirement plans before reclassifications	448		(89)
Amounts reclassified out of accumulated other comprehensive income (loss):
Amortization of prior service cost	(14)		(13)
Amortization of actuarial losses	478		102
Total amounts reclassified out of accumulated other comprehensive income (loss)	464		89
Change in unfunded status of the supplemental retirement plans after reclassifications	912		—
Tax effect	—		—
Change in unfunded status of the supplemental retirement plans, net of tax	912		—
Total other comprehensive income (loss)	$	(19,910)	$	8,952

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The components of accumulated other comprehensive income (loss), included in shareholders’ equity, are as follows:

(in thousands)	March 31, 2020		December 31, 2019
Net unrealized gain (loss) on available for sale securities	$	(26,174)	$	3,387
Tax effect	7,738		(1,001)
Unrealized holding gain (loss) on available for sale securities, net of tax	(18,436)		2,386
Unfunded status of the supplemental retirement plans	(11,193)		(11,193)
Tax effect	3,309		3,309
Unfunded status of the supplemental retirement plans, net of tax	(7,884)		(7,884)
Joint beneficiary agreement liability	1,188		276
Tax effect	—		—
Joint beneficiary agreement liability, net of tax	1,188		276
Accumulated other comprehensive income (loss)	$	(25,132)	$	(5,222)

Note 13 - Fair Value Measurement

The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, income approach, and/or the cost approach. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of nonperformance. Marketable equity securities, debt securities available-for-sale, loans held for sale, and mortgage servicing rights are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application impairment write-downs of individual assets.

The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observable nature of the assumptions used to determine fair value. These levels are:

Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets.

Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3 - Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

Marketable equity securities and debt securities available for sale - Marketable equity securities and debt securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. The Company had no securities classified as Level 3 during any of the periods covered in these financial statements.

Loans held for sale - Loans held for sale are carried at the lower of cost or fair value. The fair value of loans held for sale is based on what secondary markets are currently offering for loans with similar characteristics. As such, we classify those loans subjected to recurring fair value adjustments as Level 2.

Individually evaluated loans - Loans are not recorded at fair value on a recurring basis. However, from time to time, certain loans have individual risk characteristics not consistent with a pool of loans and is individually evaluated for credit reserves.

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Loans for which it is probable that payment of interest and principal will not be made in accordance with the original contractual terms of the loan agreement are typically individually evaluated. The fair value of these loans are estimated using one of several methods, including collateral value, fair value of similar debt, enterprise value, liquidation value and discounted cash flows. Those loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. Loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the loan as nonrecurring Level 3.

Foreclosed assets - Foreclosed assets include assets acquired through, or in lieu of, loan foreclosure. Foreclosed assets are held for sale and are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, management periodically performs valuations and the assets are carried at the lower of carrying amount or fair value less cost to sell. When the fair value of foreclosed assets is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the foreclosed asset as nonrecurring Level 3. Revenue and expenses from operations and changes in the valuation allowance are included in other non-interest expense.

Mortgage servicing rights - Mortgage servicing rights are carried at fair value. A valuation model, which utilizes a discounted cash flow analysis using a discount rate and prepayment speed assumptions is used in the computation of the fair value measurement. While the prepayment speed assumption is currently quoted for comparable instruments, the discount rate assumption currently requires a significant degree of management judgment and is therefore considered an unobservable input. As such, the Company classifies mortgage servicing rights subjected to recurring fair value adjustments as Level 3.

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands):

Fair value at March 31, 2020	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	3,007	$	3,007	$	—	$	—
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	469,218		—		469,218		—
Obligations of states and political subdivisions	114,125		—		114,125		—
Corporate bonds	2,575		—		2,575		—
Asset backed securities	416,081		—		416,081		—
Loans held for sale	2,695		—		2,695		—
Mortgage servicing rights	5,168		—		—		5,168
Total assets measured at fair value	$	1,012,869	$	3,007	$	1,004,694	$	5,168

Fair value at December 31, 2019	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	2,960	$	2,960	$	—	$	—
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	472,980		—		472,980		—
Obligations of states and political subdivisions	109,601		—		109,601		—
Corporate bonds	2,532		—		2,532		—
Asset backed securities	365,025		—		365,025		—
Loans held for sale	5,265		—		5,265		—
Mortgage servicing rights	6,200		—		—		6,200
Total assets measured at fair value	$	964,563	$	2,960	$	955,403	$	6,200

Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally corresponds with the Company’s quarterly valuation process. There were no transfers between any levels during the three months ended March 31, 2020 or the year ended December 31, 2019.

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The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands):

Three months ended March 31,	Beginning Balance		Transfers into (out of) Level 3	Change Included in Earnings		Issuances		Ending Balance
2020: Mortgage servicing rights	$	6,200	—	$	(1,258)	$	226	$	5,168
2019: Mortgage servicing rights	$	7,098	—	$	(645)	$	119	$	6,572

Three months ended March 31,

The key unobservable inputs used in determining the fair value of mortgage servicing rights are mortgage prepayment speeds and the discount rate used to discount cash projected cash flows. Generally, any significant increases in the mortgage prepayment speed and discount rate utilized in the fair value measurement of the mortgage servicing rights will result in a negative fair value adjustments (and decrease in the fair value measurement). Conversely, a decrease in the mortgage prepayment speed and discount rate will result in a positive fair value adjustment (and increase in the fair value measurement).

The following table presents quantitative information about recurring Level 3 fair value measurements at March 31, 2020 and December 31, 2019:

As of March 31, 2020:	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Mortgage Servicing Rights	$	5,168	Discounted cash flow	Constant prepayment rate	7% - 42%; 11%
				Discount rate	10% - 14%; 12%
As of December 31, 2019:
Mortgage Servicing Rights	$	6,200	Discounted cash flow	Constant prepayment rate	6% - 42.0%; 11.0%
				Discount rate	10% - 14%; 12%

The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated (in thousands):

March 31, 2020	Total		Level 1	Level 2	Level 3		Total Losses
Fair value:
Individually evaluated loans	$	105	—	—	$	105	$	(107)

December 31, 2019	Total		Level 1	Level 2	Level 3		Total Losses
Fair value:
Individually evaluated loans	$	1,055	—	—	$	1,055	$	(652)
Foreclosed assets	417		—	—	417		(27)
Total assets measured at fair value	$	1,472	—	—	$	1,472	$	(679)

March 31, 2019	Total		Level 1	Level 2	Level 3		Total Losses
Fair value:
Individually evaluated loans	$	212	—	—	$	212	$	(197)
Foreclosed assets	214		—	—	214		—
Total assets measured at fair value	$	426	—	—	$	426	$	(197)

The individually evaluated loan amounts above represent collateral dependent loans that have been adjusted to fair value. When the Company identifies a collateral dependent loan with unique risk characteristics, the Company evaluates the need for an allowance using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals. If the Company determines that the value of the loan is less than the recorded investment in the loan, the Company recognizes this impairment and adjust the carrying value of the

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loan to fair value through the allowance for credit losses. The loss represents charge-offs or impairments on collateral dependent loans for fair value adjustments based on the fair value of collateral. The carrying value of loans fully charged-off is zero.

The foreclosed assets amount above represents impaired real estate that has been adjusted to fair value. Foreclosed assets represent real estate which the Company has taken control of in partial or full satisfaction of loans. At the time of foreclosure, other real estate owned is recorded at fair value less costs to sell, which becomes the property’s new basis. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for credit losses. After foreclosure, management periodically performs valuations such that the real estate is carried at the lower of its new cost basis or fair value, net of estimated costs to sell. Fair value adjustments on other real estate owned are recognized within net loss on real estate owned. The loss represents impairments on real estate owned for fair value adjustments based on the fair value of the real estate.

The Company’s property appraisals are primarily based on the sales comparison approach and income approach methodologies, which consider recent sales of comparable properties, including their income generating characteristics, and then make adjustments to reflect the general assumptions that a market participant would make when analyzing the property for purchase. These adjustments may increase or decrease an appraised value and can vary significantly depending on the location, physical characteristics and income producing potential of each property. Additionally, the quality and volume of market information available at the time of the appraisal can vary from period to period and cause significant changes to the nature and magnitude of comparable sale adjustments. Given these variations, comparable sale adjustments are generally not a reliable indicator for how fair value will increase or decrease from period to period. Under certain circumstances, management discounts are applied based on specific characteristics of an individual property.

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at March 31, 2020:

March 31, 2020	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	105	Sales comparison approach Income approach	Adjustment for differences between comparable sales Capitalization rate	Not meaningful N/A

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2019:

December 31, 2019	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	1,055	Sales comparison approach Income approach	Adjustment for differences between comparable sales Capitalization rate	Not meaningfulN/A
Foreclosed assets (Residential real estate)	$	417	Sales comparison approach	Adjustment for differences between comparable sales	Not meaningfulN/A

Fair values for financial instruments are management’s estimates of the values at which the instruments could be exchanged in a transaction between willing parties. The Company uses the exit price notion when measuring the fair value of financial instruments. These estimates are subjective and may vary significantly from amounts that would be realized in actual transactions. In addition, other significant assets are not considered financial assets including, any mortgage banking operations, deferred tax assets, and premises and equipment. Further, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on the fair value estimates and have not been considered in any of these estimates.

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	March 31, 2020				December 31, 2019
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Level 1 inputs:
Cash and due from banks	$	95,364	$	95,364	$	92,816	$	92,816
Cash at Federal Reserve and other banks	90,102		90,102		183,691		183,691
Level 2 inputs:
Securities held to maturity	359,770		377,442		375,606		381,525
Restricted equity securities	17,250		N/A		17,250		N/A
Level 3 inputs:
Loans, net	4,321,151		4,307,323		4,276,750		4,263,064
Financial liabilities:
Level 2 inputs:
Deposits	5,402,698		5,401,617		5,366,994		5,365,921
Other borrowings	19,309		19,309		18,454		18,454
Level 3 inputs:
Junior subordinated debt	57,323		56,254		57,232		56,297

(in thousands)	Contract Amount		Fair Value		Contract Amount		Fair Value
Off-balance sheet:
Level 3 inputs:
Commitments	$	1,296,732	$	12,967	$	1,309,326	$	13,093
Standby letters of credit	12,084		121		12,014		120
Overdraft privilege commitments	109,752		1,098		110,402		1,104

Note 14 - Regulatory Matters

The Company is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1, and common equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. The following tables present actual and required capital ratios as of March 31, 2020 and December 31, 2019 for the Company and the Bank under applicable Basel III Capital Rules. The minimum capital amounts presented include the minimum required capital levels as of March 31, 2020 and December 31, 2019 based on the then phased-in provisions of the Basel III Capital Rules. As of January 1, 2019, the minimum required capital levels of the Basel III Capital Rules have been fully phased-in. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules.

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	Actual				Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of March 31, 2020:	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	762,763	15.12	%	$	529,576	10.50	%	N/A		N/A
Tri Counties Bank	$	755,893	14.99	%	$	529,388	10.50	%	$	504,179	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	702,007	13.92	%	$	428,705	8.50	%	N/A		N/A
Tri Counties Bank	$	695,137	13.79	%	$	428,552	8.50	%	$	403,343	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	646,407	12.82	%	$	353,051	7.00	%	N/A		N/A
Tri Counties Bank	$	695,137	13.79	%	$	352,925	7.00	%	$	327,716	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	702,007	11.22	%	$	250,216	4.00	%	N/A		N/A
Tri Counties Bank	$	695,137	11.11	%	$	250,209	4.00	%	$	312,762	5.00	%

	Actual					Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of December 31, 2019:	Amount		As of :	Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	753,200		15.07	%	$	524,944	10.50	%	N/A		N/A
Tri Counties Bank	$	748,660		14.98	%	$	524,759	10.50	%	$	499,770	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	719,809		14.40	%	$	424,955	8.50	%	N/A		N/A
Tri Counties Bank	$	715,269		14.31	%	$	424,805	8.50	%	$	399,816	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	664,296		13.29	%	$	349,963	7.00	%	N/A		N/A
Tri Counties Bank	$	715,269		14.31	%	$	349,839	7.00	%	$	324,851	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	719,809		11.55	%	$	249,343	4.00	%	N/A		N/A
Tri Counties Bank	$	715,269		11.47	%	$	249,337	4.00	%	$	311,672	5.00	%

As of March 31, 2020 and December 31, 2019, capital levels at the Company and the Bank exceed all capital adequacy requirements under the Basel III Capital Rules. Also, at March 31, 2020 and December 31, 2019, the Bank’s capital levels exceeded the minimum amounts necessary to be considered well capitalized under the current regulatory framework for prompt corrective action.

The Basel III Capital Rules require for all banking organizations to maintain a capital conservation buffer above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer is exclusively composed of common equity tier 1 capital, and it applies to each of the risk-based capital ratios but not the leverage ratio. At March 31, 2020, the Company and the Bank are in compliance with the capital conservation buffer requirement.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

FORWARD-LOOKING STATEMENTS

Cautionary Statements Regarding Forward-Looking Information

The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond our control. There can be no assurance that future developments affecting us will be the same as those anticipated by management. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. These risks and uncertainties include, but are not limited to, the following: the strength of the United States economy in general and the strength of the local economies in which we conduct operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market and monetary fluctuations; the impact of changes in financial services policies, laws and regulations; technological changes; weather, natural disasters and other catastrophic events that may or may not be caused by climate change and their effects on economic and business environments in which the Company operates; the adverse impact on the U.S. economy, including the markets in which we operate, of the novel coronavirus, which causes the Coronavirus disease 2019 (“COVID-19”), global pandemic, and the impact of a slowing U.S. economy and increased unemployment on the performance of our loan portfolio, the market value of our investment securities, the availability of sources of funding and the demand for our products; the costs or effects of mergers, acquisitions or dispositions we may make; the future operating or financial performance of the Company, including our outlook for future growth, changes in the level of our nonperforming assets and charge-offs; the appropriateness of the allowance for credit losses including the timing and effects of the implementation of the current expected credit losses model; any deterioration in values of California real estate, both residential and commercial; the effect of changes in accounting standards and practices; possible other-than-temporary impairment of securities held by us; changes in consumer spending, borrowing and savings habits; our ability to attract deposits and other sources of liquidity; changes in the financial performance and/or condition of our borrowers; our noninterest expense and the efficiency ratio; competition and innovation with respect to financial products and services by banks, financial institutions and non-traditional providers including retail businesses and technology companies; the challenges of integrating and retaining key employees; the costs and effects of litigation and of unexpected or adverse outcomes in such litigation; a failure in or breach of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks and the cost to defend against such attacks; the effect of a fall in stock market prices on our brokerage and wealth management businesses; and our ability to manage the risks involved in the foregoing. Additional factors that could cause results to differ materially from those described above can be found in our Annual Report on Form 10-K for the year ended December 31, 2019, which is on file with the Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section of our website, https://www.tcbk.com/investor-relations and in other documents we file with the SEC. Annualized, pro forma, projections and estimates are not forecasts and may not reflect actual results.

General

As TriCo Bancshares (referred to in this report as “we”, “our” or the “Company”) has not commenced any business operations independent of Tri Counties Bank (the “Bank”), the following discussion pertains primarily to the Bank. Average balances, including such balances used in calculating certain financial ratios, are generally comprised of average daily balances for the Company. Within Management’s Discussion and Analysis of Financial Condition and Results of Operations, interest income, net interest income, net interest yield, and efficiency ratio are generally presented on a fully tax-equivalent (“FTE”) basis. The Company believes the use of these non-generally accepted accounting principles (non-GAAP) measures provides additional clarity in assessing its results, and the presentation of these measures on a FTE basis is a common practice within the banking industry. Interest income and net interest income are shown on a non-FTE basis in the Part I - Financial Information section of this Form 10-Q, and a reconciliation of the FTE and non-FTE presentations is provided below in the discussion of net interest income.

Critical Accounting Policies and Estimates

The Company’s discussion and analysis of its financial condition and results of operations are based upon the Company’s consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, including those that materially affect the financial statements and are related to the adequacy of the allowance for loan losses, investments, mortgage servicing rights, fair value

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measurements, retirement plans and intangible assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. A detailed discussion related to the Company’s accounting policies including those related to estimates on the allowance for loan losses, other than temporary impairment of investments and impairment of intangible assets, can be found in Note 1 of the consolidated financial statements included in the Company’s annual report of Form 10-K for the year ended December 31, 2019.

Geographical Descriptions

For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo.

Financial Highlights

Performance highlights and other developments for the Company as of or for the three months ended March 31, 2020 included the following:

•For the three months ended March 31, 2020, the Company’s return on average assets was 1.00%, and the return on average equity was 7.14%.

•During the quarter ended March 31, 2020, the Company paid a cash dividend of $0.22 and repurchased 558,670 shares of common stock for approximately $17.30 million or $30.96 per share.

•As of March 31, 2020, the Company reported total loans, total assets and total deposits of $4.38 billion, $6.47 billion and $5.40 billion, respectively.

•The loan to deposit ratio was 81.05% as of March 31, 2020, as compared to 80.26% at December 31, 2019 and 74.29% at March 31, 2019.

•For the current quarter, net interest margin was 4.34% on a tax equivalent basis as compared to 4.52% in the quarter ended March 31, 2019, and a decrease of 5 basis points from the 4.39% in the trailing quarter.

•Non-interest bearing deposits as a percentage of total deposits were 34.86% at March 31, 2020, as compared to 34.15% at December 31, 2019 and 32.44% at March 31, 2019.

•The average rate of interest paid on deposits, including non-interest-bearing deposits, decreased to 0.19% for the first quarter of 2020 as compared with 0.22% for the trailing quarter, and also decreased by 1 basis point from the average rate paid during the same quarter of the prior year.

•Non-performing assets to total assets were 0.31% at March 31, 2020, as compared to 0.30% as of December 31, 2019, and 0.34% at March 31, 2019.

•The Company adopted and implemented ASU 2016-13, more commonly referred to as the Current Expected Credit Loss (CECL) on January 1, 2020 which resulted in an increase to the allowance for loan losses of $18.9 million and a decrease, net of taxes, to retained earnings of $13.0 million.

•Provision expense for loans and debt securities was $8.0 million during the quarter ended March 31, 2020, as compared to benefits from reversal of $298,000 and $1.6 million for the three month periods ended December 31, 2019 and March 31, 2019, respectively.

•The efficiency ratio was 59.75% for the first quarter of 2020, as compared to 59.92% in the trailing quarter and 60.06% in the same quarter of the 2019 year.

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The Company's Preparations and Responses to COVID-19 Pandemic

The United States has been operating under a state of emergency related to the COVID-19 pandemic since March 13, 2020. The direct and indirect effects of the pandemic have resulted in a dramatic reduction in economic activity that has severely hampered the ability for businesses and consumers to meet their current repayment obligations. The effects of the pandemic contributed to a significant increase in the provision for credit losses during the first quarter of 2020. The CARES Act, in addition to providing financial assistance to both businesses and consumers, creates a forbearance program for federally-backed mortgage loans, protects borrowers from negative credit reporting due to loan accommodations related to the national emergency, and provides financial institutions the option to temporarily suspend certain requirements under GAAP related to troubled debt restructurings for a limited period of time to account for the effects of COVID-19. The banking regulatory agencies have likewise issued guidance encouraging financial institutions to work prudently with borrowers who are, or may be, unable to meet their contractual payment obligations because of the effects of COVID-19. That guidance, with concurrence of the Financial Accounting Standards Board, and provisions of the CARES Act allow modifications made on a good faith basis in response to COVID-19 to borrowers who were generally current with their payments prior to any relief, to not be treated as troubled debt restructurings. Modifications may include payment deferrals, fee waivers, extensions of repayment term, or other delays in payment.

The Company has begun working with its customers affected by COVID-19 and expects a significant amount of modifications across many of its loan portfolios in the near term. To the extent that such modifications meet the criteria previously described, such modifications are not expected to be classified as troubled debt restructurings.The Company, as part of its ongoing risk preparation and mitigation efforts, had developed a detailed plan and action measures related to a possible pandemic scenario. This pandemic plan was implemented on March 16, 2020. Subsequently, the Company initiated a series of measures to limit operational disruptions, support customer needs and to ensure the continued safety of employees, customers and vendors. Management continues to monitor and, when appropriate, make changes to our planned response. To date we have:

•Continued to serve customers through digital and other e-banking solutions.

•Augmented business hours and the location and hours of employee teams in order to maximize social distancing protocols, including remote work solutions for nearly 450 employees (nearly 40% of the workforce) in order to balance our "essential worker" and "shelter-in-place" responsibilities.

•Actively engaged borrowers and other businesses in discussions to identify short-term cash flow and other financial needs, which may include possible principal and interest payment deferrals.

•Decided to pause any share repurchase activities until the stay at home orders have been lifted or the end of the pandemic has been identified by State officials.

•Refreshed and analyzed the Company's liquidity, funding and capital stress forecasts and risk assumptions.

•Implemented CDC guidance and best practices to keep our staff and customers safe.

•Implemented cost savings initiatives to support bank earnings.

Subsequent to March 31, 2020, the Company has been actively engaged in the facilitation of Payroll Protection Program (PPP) loans through the Small Business Administration (SBA). Tri Counties Bank is recognized as a preferred SBA lender and as a result of significant time and effort contributed by our employees, as of April 30, 2020, the Company had approximately 2,150 PPP loans authorized by the SBA totaling $417,178,000, of which approximately $195,000 was the average loan size and approximately $76,000 was the median loan size. The total employees that benefited from these loans, as reported by these 2,150 businesses, exceeded 37,000. The top twelve California counties that were most benefited by the Company's facilitation of the Payroll Protection Program loans as ranked by the percent of total loans is as follows:

Rank	County	% of Total PPP Loans		Rank	County	% of Total PPP Loans		Rank	County	% of Total PPP Loans
1	Placer	10.5	%	5	Shasta	9.4	%	9	Marin	3.8	%
2	Butte	10.2	%	6	San Francisco	7.9	%	10	Sutter	3.0	%
3	San Mateo	9.8	%	7	Nevada	6.7	%	11	Kern	2.8	%
4	Sacramento	9.6	%	8	Stanislaus	4.3	%	12	Glenn	2.2	%

In addition, the Company has established several loan payment deferral options for borrowers with a demonstrated hardship. While in the normal course of our operations we are actively engaging many of our borrowers to better understand the impacts that the pandemic and shelter in place orders may be having on their business or personal cash flows, however, we are not actively offering payment deferrals but rather working to address borrower requests for deferral as they are received. As of April 30, 2020, the Company had approved payment deferment requests on approximately 400 loans totaling $188,900,000. Of these deferments, approximately 275 loans and $54,570,000 were associated with consumer borrowers and the remaining 125 loans and $134,330,000 were associated with small business and commercial borrowers.

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TRICO BANCSHARES

Financial Summary

(In thousands, except per share amounts; unaudited)

	Three months ended March 31,
	2020			2019
Net interest income	63,192			63,870
(Provision for) reversal of credit losses	(8,000)			1,600
Non-interest income	11,820			11,803
Non-interest expense	(44,819)			(45,452)
Provision for income taxes	(6,072)			(9,095)
Net income	$	16,121		$	22,726
Per Share Data:
Basic earnings per share	$	0.53		$	0.75
Diluted earnings per share	$	0.53		$	0.74
Dividends paid	$	0.22		$	0.19
Book value at period end	$	28.91		$	28.04
Average common shares outstanding	30,394,904			30,424,184
Average diluted common shares outstanding	30,522,842			30,657,833
Shares outstanding at period end	29,973,516			30,432,419
At period end:
Loans, net	$	4,321,151		4,002,267
Total investment securities	$	1,382,026		1,564,692
Total assets	$	6,474,309		6,471,852
Total deposits	$	5,402,698		5,430,262
Other borrowings	$	19,309		12,466
Shareholders’ equity	$	866,426		853,278
Financial Ratios:
During the period:
Return on average assets (annualized)	1.00		%	1.43		%
Return on average equity (annualized)	7.14		%	10.93		%
Net interest margin(1) (annualized)	4.34		%	4.52		%
Efficiency ratio	59.75		%	60.06		%
Average equity to average assets	13.96		%	13.12		%
At end of period:
Equity to assets	13.38		%	13.18		%
Total capital to risk-adjusted assets	15.12		%	14.73		%

⁽¹⁾ Fully taxable equivalent (FTE)

The financial results above were impacted significantly by the Company's adoption of the current expected credit loss ("CECL") (ASU 2016-13) on January 1, 2020 and the corresponding increases in provision for credit losses during the three months ended March 31, 2020, totaling $8,000,000 as compared to a benefit from reversal of $1,600,000 for the same period ended 2019. More specifically, the net loan portfolio growth in the first quarter of 2020 of approximately $71,696,000 combined with changes in credit quality associated with the levels of classified, past due and non-performing loans resulted in the need for a provision for loan losses of $1,063,000 which was partially offset by net recoveries of $382,000. However, the majority of the provision for credit losses recorded reflects potential credit deterioration due to the pandemic, specifically portfolio-wide qualitative indicators such as the outlook for changes in California Unemployment and Gross Domestic Product (GDP) resulted in a $7,319,000 increase in provision expense during the current quarter. The Company utilizes a forecast period of approximately eight quarters and obtains the forecast data from publicly available sources as of the balance sheet date. While this forecast data was rapidly evolving and included significant shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date, management noted that the majority of sources identified economic recovery during the year ended 2020 as being most likely.

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Results of Operations

Overview

The following discussion and analysis is designed to provide a better understanding of the significant changes and trends related to the Company and the Bank’s financial condition, operating results, asset and liability management, liquidity and capital resources and should be read in conjunction with the Condensed Consolidated Financial Statements of the Company and the Notes thereto located at Item 1 of this report.

	Three months ended
	March 31, 2020		December 31, 2019		March 31, 2019
Net interest income	$	63,192	$	64,196	$	63,870
(Provision for) reversal of credit losses	(8,000)		298		1,600
Non-interest income	11,820		14,186		11,803
Non-interest expense	(44,819)		(46,964)		(45,452)
Provision for income taxes	(6,072)		(8,826)		(9,095)
Net income	$	16,121	$	22,890	$	22,726

The Company reported net income of $16,121,000 for the quarter ended March 31, 2020, compared to $22,890,000 and$22,726,000 for the quarters ended December 31, 2019 and March 31, 2019, respectively. Diluted earnings per share were $0.53, $0.75 and $0.74 for the quarters ended March 31, 2020, December 31, 2019 and March 31, 2019, respectively.

Net Interest Income

The Company’s primary source of revenue is net interest income, or the difference between interest income on interest-earning assets and interest expense on interest-bearing liabilities. Following is a summary of the components of FTE net income for the periods indicated (dollars in thousands):

	Three months ended
	March 31, 2020			December 31, 2019			March 31, 2019
Interest income	$	66,517		$	67,918		$	67,457
Interest expense	(3,325)			$	(3,722)		(3,587)
FTE adjustment	271			$	272		322
Net interest income (FTE)	$	63,463		$	64,468		$	64,192
Net interest margin (FTE)	4.34		%	4.39		%	4.52		%
Acquired loans discount accretion, net:
Amount (included in interest income)	$	1,748		$	2,218		$	1,655
Effect on average loan yield	0.17		%	0.21		%	0.16		%
Effect on net interest margin (FTE)	0.12		%	0.16		%	0.17		%
Net interest margin less effect of acquired loan discount	4.22		%	4.23		%	4.35		%

Loans may be acquired at a premium or discount to par value, in which case, the premium is amortized (subtracted from) or accreted (added to) interest income over the remaining life of the loan. Generally, as time goes on, the effects of loan discount accretion and loan premium amortization decrease as the purchased loans mature or pay off early. Upon the early pay off of a loan, any remaining (unaccreted) discount or (unamortized) premium is immediately taken into interest income; and as loan payoffs may vary significantly from quarter to quarter, so may the impact of discount accretion and premium amortization on interest income. During the three months ended March 31, 2020, purchased loan discount accretion was $1,748,000. During the three months ended March 31, 2019, purchased loan discount accretion was $1,655,000. Quarter over quarter, the increase in accretion is attributed to an increased level of pay-off activity resulting from the declining rate environment.

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Summary of Average Balances, Yields/Rates and Interest Differential

The following table presents, for the three month periods indicated, information regarding the Company’s consolidated average assets, liabilities and shareholders’ equity, the amounts of interest income from average interest-earning assets and resulting yields, and the amount of interest expense paid on interest- bearing liabilities. Average loan balances include nonperforming loans. Interest income includes proceeds from loans on nonaccrual loans only to the extent cash payments have been received and applied to interest income. Yields on securities and certain loans have been adjusted upward to reflect the effect of income thereon exempt from federal income taxation at the current statutory tax rate (dollars in thousands).

	For the three months ended
	March 31, 2020						March 31, 2019
	Average Balance		Interest Income/ Expense		Rates Earned /Paid		Average Balance		Interest Income/ Expense		Rates Earned /Paid
Assets:
Loans	$	4,329,357	$	56,258	5.23	%	$	4,023,864	$	54,398	5.48	%
Investment securities - taxable	1,235,672		8,572		2.79	%	1,425,352		10,915		3.11	%
Investment securities - nontaxable(1)	118,992		1,175		3.97	%	142,232		1,395		3.98	%
Total investments	1,354,664		9,747		2.89	%	1,567,584		12,310		3.18	%
Cash at Federal Reserve and other banks	199,729		783		1.58	%	168,518		1,071		2.58	%
Total interest-earning assets	5,883,750		66,788		4.57	%	5,759,966		67,779		4.77	%
Other assets	622,837						666,261
Total assets	$	6,506,587					$	6,426,227
Liabilities and shareholders’ equity:
Interest-bearing demand deposits	$	1,245,896	$	169	0.05	%	$	1,273,376	$	287	0.09	%
Savings deposits	1,864,967		1,062		0.23	%	1,927,120		1,133		0.24	%
Time deposits	430,064		1,320		1.23	%	441,778		1,300		1.19	%
Total interest-bearing deposits	3,540,927		2,551		0.29	%	3,642,274		2,720		0.30	%
Other borrowings	22,790		5		0.09	%	15,509		13		0.34	%
Junior subordinated debt	57,272		769		5.40	%	56,950		855		6.09	%
Total interest-bearing liabilities	3,620,989		3,325		0.37	%	3,714,733		3,588		0.39	%
Noninterest-bearing deposits	1,855,006						1,744,805
Other liabilities	121,959						123,599
Shareholders’ equity	908,633						843,090
Total liabilities and shareholders’ equity	$	6,506,587					$	6,426,227
Net interest spread(2)					4.20	%					4.38	%
Net interest income and interest margin(3)			$	63,463	4.34	%			$	64,191	4.52	%

⁽¹⁾Fully taxable equivalent (FTE)

⁽²⁾Net interest spread represents the average yield earned on interest-earning assets minus the average rate paid on interest-bearing liabilities.

⁽³⁾Net interest margin is computed by calculating the difference between interest income and interest expense, divided by the average balance of interest-earning assets, then annualized based on the number of days in the given period.

During the comparable three month periods above, net interest income and net interest margin were negatively impacted by the decline in interest rates. The index utilized in a significant portion of the Company’s variable rate loans, Wall Street Journal Prime, decreased by 150 basis points during the current quarter to 3.25% at March 31, 2020, as compared to 4.75% at March 31, 2020 and 5.50% at March 31, 2019. As compared to the same quarter in the prior year, average loan yields decreased 25 basis points from 5.48% during the three months ended March 31, 2019 to 5.23% during the three months ended March 31, 2020. Of the 25 basis point decrease in yields on loans during the comparable three month periods ended March 31, 2020 and 2019, 26 basis points was attributable to decreases in market rates while 1 basis point was gained from the accretion of purchased loan discounts. See the Summary of Changes in Interest Income and Expense due to Changes in Average Asset and Liability Balances and Yields Earned and Rates Paid, below for additional information.

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Summary of Changes in Interest Income and Expense due to Changes in Average Asset and Liability Balances and Yields Earned and Rates Paid

The following table sets forth, for the period identified, a summary of the changes in interest income and interest expense from changes in average asset and liability balances (volume) and changes in average interest rates for the periods indicated. Changes not solely attributable to volume or rates have been allocated in proportion to the respective volume and rate components.

(in thousands)	Three months ended March 31, 2020 compared with three months ended March 31, 2019
	Volume		Rate		Total
Increase in interest income:
Loans	$	4,840	$	(2,980)	$	1,860
Investment securities(1)	(1,532)		(1,031)		(2,563)
Cash at Federal Reserve and other banks	262		(550)		(288)
Total interest-earning assets	3,570		(4,561)		(991)
Increase (decrease) in interest expense:
Interest-bearing demand deposits	(6)		(112)		(118)
Savings deposits	(32)		(39)		(71)
Time deposits	(70)		90		20
Other borrowings	12		(20)		(8)
Junior subordinated debt	5		(91)		(86)
Total interest-bearing liabilities	(91)		(172)		(263)
Increase in net interest income	$	3,661	$	(4,389)	$	(728)

⁽¹⁾Fully taxable equivalent (FTE)

(in thousands)

The following commentary regarding net interest income, interest income and interest expense may be best understood while referencing the Summary of Average Balances, Yields/Rates and Interest Differential and the Summary of Changes in Interest Income and Expense due to Changes in Average Asset and Liability Balances and Yields Earned and Rates Paid shown above.

Net interest income (FTE) during the three months ended March 31, 2020 decreased $728,000 or 6.8% to $63,463,000 compared to $64,192,000 during the three months ended March 31, 2019. The decrease in net interest income (FTE) was due, most notably, to both declines in the average outstanding balance of investment securities, which reduced interest income by $1,532,000, and declines in interest rates on investments, which contributed to further reductions in margin of $1,031,000. Positively, interest income on loans improved quarter over quarter. This was the result of an increase in the average balance of loans, adding $4,840,000 to net interest income, partially offset by a reduction of net interest income totaling $2,980,000 from lower market rates and purchase discount accretion. The reduction in market rates also led to a decline in interest expense paid on deposits and borrowings of $172,000 during the three months ended March 31, 2020, compared to the same period in 2019.

Asset Quality and Loan Loss Provisioning

The allowance for credit losses (ACL), formerly known as the allowance for loan losses was $30,616,000 as of December 31, 2019. Upon adoption of CECL on January 1, 2020, the Company recognized an increase in the ACL for loans totaling $18,913,000, including a reclassification of $481,000 from discounts on acquired loans to the allowance for credit losses, as a cumulative effect adjustment from change in accounting policies, with a corresponding decrease in retained earnings, net of $5,449,000 in taxes of $12,983,000. Management has separately evaluated its held-to-maturity investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. Based on this evaluation, management has determined that the expected credit losses associated with these securities is less than significant for financial reporting purposes and therefore, no loss reserves were recorded for these securities at the time of adoption and implementation of the CECL standard.

The Company recorded a provision for credit losses of $8,000,000 and benefit from reversal of provision of $298,000 during the three months ended March 31, 2020 and December 31, 2019, respectively, as compared to a benefit from reversal of $1,600,000 during the three months ended March 31, 2019.

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The change in ACL during the quarter ended March 31, 2020 totaled $8,382,000. More specifically, the net loan portfolio growth in the first quarter of 2020 of approximately $71,696,000 combined with changes in credit quality associated with the levels of classified, past due and non-performing loans resulted in the need for a provision for loan losses of $1,063,000 which was partially offset by net recoveries of $382,000. However, the majority of the increase in ACL reflects potential credit deterioration due to the pandemic, specifically portfolio-wide qualitative indicators such as the outlook for changes in California Unemployment and Gross Domestic Product (GDP) resulted in a $7,319,000 increase in provision expense during the current quarter. The Company utilizes a forecast period of approximately eight quarters and obtains the forecast data from publicly available sources as of the balance sheet date. While this forecast data was rapidly evolving and included significant shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date, management noted that the majority of sources identified economic recovery during the year ended 2020 as being most likely.

Loans past due 30 days or more increased by $19,669,000 during the quarter ended March 31, 2020 to $28,693,000, as compared to $9,024,000 at March 31, 2020. The increase in past due balances was driven primarily by three loans from three relationships totaling $17,198,000, one of which was slightly in excess of $13,000,000. All three loans were less than 60 days past due, are considered well-secured and are not expected to become impaired as all of the related borrowers are in active discussions with management regarding their short term resolution needs.

Total non-performing loans were $17,955,000 at March 31, 2020 and remained relatively static as compared to the $16,864,000 and $19,565,000 as of December 31, 2019 and March 31, 2019, respectively. There were no additions and one sale of other real estate owned during three month period ended March 31, 2020. The sold property generated $353,000 in proceeds and had a carrying value of $312,000. As of March 31, 2020, other real estate owned consisted of five properties with a carrying value of $2,229,000.

Non-interest Income

The following table summarizes the Company’s non-interest income for the periods indicated (in thousands):

	Three months ended March 31,
(dollars in thousands)	2020		2019		$ Change		% Change
ATM and interchange fees	$	5,111	$	4,581	$	530	11.6	%
Service charges on deposit accounts	4,046		3,880		$	166	4.3	%
Other service fees	758		771		$	(13)	(1.7)	%
Mortgage banking service fees	469		483		$	(14)	(2.9)	%
Change in value of mortgage servicing rights	(1,258)		(645)		$	(613)	95.0	%
Total service charges and fees	9,126		9,070		56		0.6	%
Increase in cash value of life insurance	720		775		$	(55)	(7.1)	%
Asset management and commission income	916		642		$	274	42.7	%
Gain on sale of loans	891		412		$	479	116.3	%
Lease brokerage income	193		220		$	(27)	(12.3)	%
Sale of customer checks	124		140		$	(16)	(11.4)	%
Gain on marketable equity securities	47		36		$	11	30.6	%
Other	(197)		508		$	(705)	(138.8)	%
Total other non-interest income	2,694		2,733		$	(39)	(1.4)	%
Total non-interest income	$	11,820	$	11,803	$	17	0.1	%

Non-interest income increased $17,000 or 0.1% to $11,820,000 during the three months ended March 31, 2020 compared to $11,803,000 during the comparable three month period in 2019. Non-interest income for the three months ended March 31, 2020 as compared to the same period in 2019 was impacted by changes in the fair value of the Company’s mortgage servicing assets, which contributed to a $613,000 decline. Other non-interest income, as noted above, was also negatively impacted by decreases in the fair value of assets used to fund acquired deferred compensation plans. However, this was partially offset by gains from the sale of mortgage loans, which resulted from increased volume, contributed $479,000 to the overall increase in non-interest income during the three months ended March 31, 2020. As noted in previous quarters, ATM and interchange fees continue to increase, totaling$5,111,000 for the quarter ended March 31, 2020 as compared to $4,581,000 for the comparative period in 2019, for an increase of $530,000.

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Non-interest Expense

The following table summarizes the Company’s non-interest expense for the periods indicated (dollars in thousands):

	Three months ended March 31,
	2020		2019		$ Change		% Change
Base salaries, net of deferred loan origination costs	$	17,623	$	16,757	$	866	5.2	%
Incentive compensation	3,101		2,567		534		20.8	%
Benefits and other compensation costs	6,548		5,804		744		12.8	%
Total salaries and benefits expense	27,272		25,128		2,144		8.5	%
Occupancy	3,875		3,774		101		2.7	%
Data processing and software	3,367		3,349		18		0.5	%
Equipment	1,512		1,867		(355)		(19.0)	%
Intangible amortization	1,431		1,431		—		—	%
Advertising	665		1,331		(666)		(50.0)	%
ATM and POS network charges	1,373		1,323		50		3.8	%
Professional fees	703		839		(136)		(16.2)	%
Telecommunications	725		797		(72)		(9.0)	%
Regulatory assessments and insurance	95		511		(416)		(81.4)	%
Postage	290		310		(20)		(6.5)	%
Operational losses	221		225		(4)		(1.8)	%
Courier service	331		270		61		22.6	%
Gain on sale of foreclosed assets	(41)		(99)		58		(58.6)	%
Loss on disposal of fixed assets	—		24		(24)		(100.0)	%
Other miscellaneous expense	3,000		4,372		(1,372)		(31.4)	%
Total other non-interest expense	17,547		20,324		(2,777)		(13.7)	%
Total non-interest expense	$	44,819	$	45,452	$	(633)	(1.4)	%
Average full time equivalent staff	1,165		1,160		5		0.4	%

Non-interest expense decreased by $633,000 or 1.4% to $44,819,000 during the three months ended March 31, 2020 as compared to $45,452,000 for the three months ended March 31, 2019. Salary and benefit expense increased $2,144,000 or 8.5% to $27,272,000 during the three months ended March 31, 2020 as compared to $25,128,000 for the same period in 2019. These increases were impacted equally by increased costs associated with production incentives and long term benefit obligation costs. To a lesser extent, increases of $866,000 in base salaries during these comparable periods were the result of annual merit increases in 2019 as well as compensation adjustments associated with changes in the organizational structure of management.

As an offset to the increase above, reductions in advertising expense totaled $666,000 or 50.0%, to $665,000 during the three months ended March 31, 2020 as compared to $1,331,000 for the same period in 2019. Regulatory assessment credits issued by the FDIC during the three month periods ended March 31, 2020 and March 31, 2019 totaled $437,000 and $0, respectively. Other expenses decreased $1,372,000 or 31.4% to $3,000,000 during the current quarter, as compared to $4,372,000 for the same period in 2019.

Income Taxes

The Company’s effective tax rate was 27.4% for the quarter ended March 31, 2020 as compared to 28.0% for the quarter ended December 31, 2019 and 27.4% for the year ended December 31, 2019.

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Financial Condition

For financial reporting purposes, the Company does not separately track the changes in assets and liabilities based on branch location or regional geography. Organic growth, inclusive of seasonal fluctuation, also contributes to the year-over-year balance sheet changes. During the most recent quarter, loan growth of $71,696,000 and investment growth of $36,072,000 was funded by an increase in deposits of $35,704,000 and a reduction in excess liquidity. During the twelve months ended March 31, 2020, organic loan growth of $344,731,000 or 8.5% was funded by the reduction via sale or principle repayment of investment securities of $182,666,000 or 11.7% and growth of non-interest deposits totaling $121,584,000 or 6.9%. Total assets grew modestly by just $2,457,000 or 0.04% between March 2019 and March 2020. The following is a comparison of the quarterly change in certain assets and liabilities:

($‘s in thousands)	As of March 31, 2020		As of December 31, 2019		$ Change		Annualized % Change
Ending balances
Total assets	$	6,474,309	$	6,471,181	$	3,128	0.2	%
Total loans	4,379,062		4,307,366		71,696		6.7	%
Total investments	1,382,026		1,345,954		36,072		10.7	%
Total deposits	5,402,698		5,366,994		35,704		2.7	%
Total noninterest-bearing deposits	1,883,143		1,832,665		50,478		11.0	%
Total other borrowings	19,309		18,454		855		18.5	%

The following is a comparison of the year over year change in certain assets and liabilities:

	As of March 31,				$ Change		% Change
($‘s in thousands)	2020		2019
Ending balances
Total assets	$	6,474,309	$	6,471,852	$	2,457	0.04	%
Total loans	4,379,062		4,034,331		344,731		8.5	%
Total investments	1,382,026		1,564,692		(182,666)		(11.7)	%
Total deposits	5,402,698		5,430,262		(27,564)		(0.5)	%
Total noninterest-bearing deposits	1,883,143		1,761,559		121,584		6.9	%
Total other borrowings	19,309		12,466		6,843		54.9	%

Investment Securities

Investment securities available for sale increased $51,861,000 to $1,001,999,000 as of March 31, 2020, compared to December 31, 2019. This increase is primarily supported by deposit growth and available cash reserves. There were no proceeds from the sale of, or transfers of available-for-sale investment securities to held-to-maturity, or vice versa, during the three month periods ended March 31, 2020 and 2019, respectively.

The following table presents the available for sale debt securities portfolio by major type as of March 31, 2020 and December 31, 2019:

(dollars in thousands)	March 31, 2020				December 31, 2019
	Fair Value		%		Fair Value		%
Debt securities available for sale:
Obligations of U.S. government agencies	$	469,218	46.8	%	$	472,980	49.8	%
Obligations of states and political subdivisions	114,125		11.4	%	109,601		11.5	%
Corporate bonds	2,575		0.3	%	2,532		0.3	%
Asset backed securities	416,081		41.5	%	365,025		38.4	%
Total debt securities available for sale	$	1,001,999	100.0	%	$	950,138	100.0	%

Investment securities held to maturity decreased $15,836,000 to $359,770,000 as of March 31, 2020, as compared to December 31, 2019. This decrease is attributable to principal repayments of $15,592,000, and amortization of net purchase premiums of $244,000.

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The following table presents the held to maturity investment securities portfolio by major type as of March 31, 2020 and December 31, 2019:

(dollars in thousands)	March 31, 2020				December 31, 2019
	Amortized Cost		%		Amortized Cost		%
Debt securities held to maturity:
Obligations of U.S. government and agencies	$	345,944	96.2	%	$	361,785	96.3	%
Obligations of states and political subdivisions	13,826		3.8	%	13,821		3.7	%
Total debt securities held to maturity	$	359,770	100.0	%	$	375,606	100.0	%

During primarily the third and fourth quarters of 2018, the Company acquired approximately $239,947,000 in asset backed structured investment securities more commonly referred to as collateralized loan obligations (CLOs). Due to the changes in risk appetite of many investors during the first quarter of 2020, the valuation of these CLOs were particularly impacted as evidenced by their decline in market value to approximately $202,030,000 or 84.2% of amortized cost. The composition of these CLOs are such that approximately 65% are rated by national rating agencies as AAA and the remaining 35% as AA. Based on the above, management believes the change in fair is attributed to changes in interest rates and expects all contractual cash flows to be received timely, therefore, no allowance for credit losses has been recorded.

Loans

The Company concentrates its lending activities in four principal areas: real estate mortgage loans (residential and commercial loans), consumer loans, commercial loans (including agricultural loans), and real estate construction loans. The interest rates charged for the loans made by the Company vary with the degree of risk, the size and maturity of the loans, the borrower’s relationship with the Company and prevailing money market rates indicative of the Company’s cost of funds.

The majority of the Company’s loans are direct loans made to individuals, farmers and local businesses. The Company relies substantially on local promotional activity and personal contacts by bank officers, directors and employees to compete with other financial institutions. The Company makes loans to borrowers whose applications include a sound purpose, a viable repayment source and a plan of repayment established at inception and generally backed by a secondary source of repayment.

The following table shows the Company’s loan balances, net deferred loan costs and discounts, as of the dates indicated:

(dollars in thousands)	March 31, 2020				December 31, 2019
Real estate mortgage	$	3,396,016	77.6	%	$	3,328,290	77.3	%
Consumer	450,998		10.3	%	445,542		10.3	%
Commercial	290,334		6.6	%	283,707		6.6	%
Real estate construction	241,714		5.5	%	249,827		5.8	%
Total loans	$	4,379,062	100.0	%	$	4,307,366	100.0	%

At March 31, 2020 loans, including net deferred loan costs and discounts, totaled $4,379,062,000 which was a $71,696,000 (6.7%) annualized increase over the balances at December 31, 2019.

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Asset Quality and Nonperforming Assets

Nonperforming Assets

The following tables set forth the amount of the Company’s nonperforming assets ("NPA") as of the dates indicated. “Performing nonaccrual loans” are loans that may be current for both principal and interest payments, or are less than 90 days past due, but for which payment in full of both principal and interest is not expected, and are not well secured and in the process of collection:

(dollars in thousands)	March 31, 2020			December 31, 2019
Performing nonaccrual loans	$	11,900		$	11,266
Nonperforming nonaccrual loans	6,055			5,579
Total nonaccrual loans	17,955			16,845
Loans 90 days past due and still accruing	—			11
Total nonperforming loans	17,955			16,856
Foreclosed assets	2,229			2,541
Total nonperforming assets	$	20,184		$	19,397
Nonperforming assets to total assets	0.31		%	0.30		%
Nonperforming loans to total loans	0.41		%	0.39		%
Allowance for credit losses to nonperforming loans	323		%	182		%

Changes in nonperforming assets during the three months ended March 31, 2020

(in thousands)	Balance at December 31, 2019		New NPA / Valuation Adjustments		Pay-downs /Sales /Upgrades		Charge-offs/ (1) Write-downs		Transfers to Foreclosed Assets		Balance at March 31, 2020
Real estate mortgage:
Residential	$	5,068	$	985	$	(388)	$	—	$	—	$	5,665
Commercial	5,203		311		(113)		—		—		5,401
Consumer
Home equity lines	2,740		852		(236)		—		—		3,356
Home equity loans	1,600		163		(136)		—		—		1,627
Other consumer	51		113		(2)		(23)		—		139
Commercial	2,194		463		(510)		(380)		—		1,767
Construction	—		—		—		—		—		—
Total nonperforming loans	16,856		2,887		(1,385)		(403)		—		17,955
Foreclosed assets	2,541				(312)		—		—		2,229
Total nonperforming assets	$	19,397	$	2,887	$	(1,697)	$	(403)	$	—	$	20,184

⁽¹⁾ The table above does not include deposit overdraft charge-offs.

Nonperforming assets increased during the first quarter of 2020 by $779,000 (4.0%) to $20,184,000 at March 31, 2020 compared to $19,397,000 at December 31, 2019. The increase in nonperforming assets during the first quarter of 2020 was primarily the result of new nonperforming loans of $2,887,000, which were partially offset by pay-downs of $1,385,000 and write-downs of $403,000.

Non performing loans added during the first quarter of 2020 were primarily within residential and home equity lines, both of which are secured by residential estate. Residential non-performing added $985,000 and home equity lines added $852,000 during the quarter ended March 31, 2020. The new non performing loans were not concentrated amongst any one borrower, with the largest individual loan totaling $320,000. Management is actively engaged in the collection and recovery efforts for all nonperforming assets and believes that the specific loan loss reserves associated with these loans is sufficient as of March 31, 2020.

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Loan charge-offs during the three months ended March 31, 2020 and March 31, 2019

In the first quarter of 2020, the Company recorded $403,000 in loan charge-offs and $107,000 in deposit overdraft charge-offs less $836,000 in loan recoveries and $56,000 in deposit overdraft recoveries resulting in $382,000 of net recoveries. Loan charge-offs were not concentrated within any single loan or borrower relationship and were comprised entirely of individual charges of less than $250,000 each. In the first quarter of 2019, the Company recorded $614,000 in loan charge-offs and $112,000 in deposit overdraft charge-offs, less $1,752,000 in loan recoveries and $56,000 in deposit overdraft recoveries, resulting in $1,082,000 of net charge-offs. Generally, losses are triggered by non-performance by the borrower and calculated based on any difference between the current loan amount and the current value of the underlying collateral less any estimated costs associated with the disposition of the collateral.

The Components of the Allowance for Credit Losses for Loans

The following table sets forth the allowance for credit losses as of the dates indicated:

(dollars in thousands)	March 31, 2020			December 31, 2019
Allowance for credit losses:
Qualitative and forecast factor allowance	$	30,255		$	12,146
Cohort model allowance reserves	26,694			17,529
Total allowance for credit losses	56,949			29,675
Allowance for individually evaluated loans	962			935
Allowance for PCD loan losses	—			n/a
Allowance for PCI loan losses	n/a			6
Total allowance for credit losses	$	57,911		$	30,616
Allowance for credit losses for loans	1.32		%	0.71		%

For additional information regarding the allowance for loan losses, including changes in specific, formula, and environmental factors allowance categories, see “Asset Quality and Loan Loss Provisioning” at “Results of Operations”, above. Based on the current conditions of the loan portfolio, management believes that the $57,911,000 allowance for loan losses at March 31, 2020 is adequate to absorb probable losses inherent in the Bank’s loan portfolio. No assurance can be given, however, that adverse economic conditions or other circumstances will not result in increased losses in the portfolio.

The following table summarizes the allocation of the allowance for credit losses between loan types and by percentage of the total allowance for loan losses as of the dates indicated:

	March 31, 2020				December 31, 2019
Real estate mortgage	$	34,902	60.3	%	$	14,301	46.8	%
Consumer	13,942		24.1	%	7,778		25.4	%
Commercial	4,472		7.7	%	5,149		16.8	%
Real estate construction	4,595		7.9	%	3,388		11.0	%
Total allowance for credit losses	$	57,911	100.0	%	$	30,616	100.0	%

The following table summarizes the allocation of the allowance for credit losses as a percentage of the total loans for each loan category as of the dates indicated:

	March 31, 2020				December 31, 2019
Real estate mortgage	$	3,422,440	1.02	%	$	3,328,290	0.43	%
Consumer	428,313		3.26	%	445,542		1.75	%
Commercial	285,830		1.56	%	283,707		1.81	%
Real estate construction	242,479		1.90	%	249,827		1.36	%
Total allowance for credit losses	$	4,379,062	1.32	%	$	4,307,366	0.71	%

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The following table summarizes the activity in the allowance for credit losses for the periods indicated (dollars in thousands):

	Three months ended March 31,
(in thousands)	2020			2019
Allowance for credit losses:
Balance at beginning of period	$	30,616		$	32,582
Impact of adoption from ASU 2016-13	18,913			—
Provision for (reversal of) loan losses	8,000			(1,600)
Loans charged-off:
Real estate mortgage:
Residential	—			—
Commercial	—			—
Consumer:
Home equity lines	—			—
Home equity loans	—			—
Other consumer	(130)			(207)
Commercial	(380)			(519)
Construction:
Residential	—			—
Commercial	—			—
Total loans charged-off	(510)			(726)
Recoveries of previously charged-off loans:
Real estate mortgage:
Residential	410			2
Commercial	194			1,381
Consumer:
Home equity lines	33			95
Home equity loans	15			87
Other consumer	94			75
Commercial	146			168
Construction:
Residential	—			—
Commercial	—			—
Total recoveries of previously charged-off loans	892			1,808
Net recoveries	382			1,082
Balance at end of period	$	57,911		$	32,064
Average total loans	$	4,329,357		$	4,023,864
Ratios (annualized):
Net recoveries during period to average loans outstanding during period	0.04		%	(0.11)		%
(Benefit from reversal of) provision for loan losses to average loans outstanding during period	0.74		%	(0.16)		%

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Foreclosed Assets, Net of Allowance for Losses

The following tables detail the components and summarize the activity in foreclosed assets, net of allowances for losses for the period indicated:

(in thousands)	Balance at December 31, 2019		Sales		Valuation Adjustments		Transfers from Loans		Balance at March 31, 2020
Land & Construction	$	312	$	(312)	$	—	$	—	$	—
Residential real estate	1,048		—		—		—		1,048
Commercial real estate	1,181		—		—		—		1,181
Total foreclosed assets	$	2,541	$	(312)	$	—	$	—	$	2,229

Deposits

During the three months ended March 31, 2020, the Company’s deposits increased $35,704,000 to $5,402,698,000. Included in the March 31, 2020 and December 31, 2019 certificate of deposit balances are $30,000,000, respectively, from the State of California. The Company participates in a deposit program offered by the State of California whereby the State may make deposits at the Company’s request subject to collateral and creditworthiness constraints. The negotiated rates on these State deposits are generally more favorable than other wholesale funding sources available to the Company.

Off-Balance Sheet Arrangements

See Note 7 to the condensed consolidated financial statements at Item 1 of Part I of this report for information about the Company’s commitments and contingencies including off-balance-sheet arrangements.

Capital Resources

The current and projected capital position of the Company and the impact of capital plans and long-term strategies are reviewed regularly by Management.

On November 12, 2019 the Board of Directors approved the authorization to repurchase up to 1,525,000 shares of the Company's common stock (the 2019 Repurchase Plan), which approximates 5.0% of the shares outstanding as of the approval date. The actual timing of any share repurchases will be determined by the Company's management and therefore the total value of the shares to be purchased under the program is subject to change. The 2019 Repurchase Plan has no expiration date. For the quarter ended March 31, 2020, the Company repurchased 553,869 shares with a market value of $17,139,000.

The Company’s primary capital resource is shareholders’ equity, which was $866,426,000 at March 31, 2020. This amount represents a decrease of $40,144,000 (4.4%) from December 31, 2019, the net result of comprehensive loss for the three month period of $19,910,0000, dividends paid of $6,664,000, and repurchase of common stock of under the repurchase program discussed above totaling $17,139,000. The Company’s ratio of equity to total assets was 13.4% and 14.0% as of March 31, 2020 and December 31, 2019, respectively. We believe that the Company and the Bank were in compliance with applicable minimum capital requirements set forth in the final Basel III Capital rules as of March 31, 2020. The following summarizes the Company’s ratios of capital to risk-adjusted assets as of the dates indicated:

	March 31, 2020				December 31, 2019
	Ratio		Minimum Regulatory Requirement		Ratio		Minimum Regulatory Requirement
Total capital	15.12	%	10.50	%	15.07	%	9.25	%
Tier I capital	13.92	%	8.50	%	14.40	%	7.25	%
Common equity Tier 1 capital	12.82	%	7.00	%	13.29	%	5.75	%
Leverage	11.22	%	4.00	%	11.55	%	4.00	%

See Note 8 and Note 14 to the condensed consolidated financial statements at Item 1 of Part I of this report for additional information about the Company’s capital resources.

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Liquidity

The Company’s principal source of asset liquidity is cash at the Federal Reserve Bank of San Francisco (“Federal Reserve”) and other banks and marketable investment securities available for sale. At March 31, 2020, cash at Federal Reserve and other banks in excess of reserve requirements and investment securities available for sale totaled $1,001,196,000, or 15.7% of total assets. The Company’s profitability during the first three months of 2020 generated cash flows from operations of $33,547,000 compared to $22,055,000 during the first three months of 2019. Net cash used by investing activities was $136,424,000 for the three months ended March 31, 2020, compared to net cash provided by investing activities of $14,867,000 during the three months ending 2019. Financing activities provided $12,748,000 during the three months ended March 31, 2020, compared to $54,253,000 during the three months ended March 31, 2019. Deposit balance changes increased available liquidity by $35,704,000 during the three months ended March 31, 2020, compared to an increase of $63,796,000 for financing activity during the the same period in 2019. Dividends paid used $6,664,000 and $5,782,000 of cash during the three months ended March 31, 2020 and 2019, respectively. The Company’s liquidity is dependent on dividends received from the Bank. Dividends from the Bank are subject to certain regulatory restrictions.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

Based on the changes in interest rates occurring subsequent to December 31, 2019, the following update of the Company’s assessment of market risk as of March 31, 2020 is being provided. These updates and changes should be read in conjunction with the additional quantitative and qualitative disclosures in our Annual Report on Form 10-K for the year ended December 31, 2019.

Subsequent to December 31, 2019, declines in several market interest rates, including many rates that serve as reference indices for variable rate loans declined markedly from previous levels. As of December 31, 2019 the Company's loan portfolio consisted of approximately $4,346,723,000 in outstanding principal with a weighted average rate of 4.89%. As of March 31, 2020 the Company's loan portfolio consisted of approximately $4,420,889,000 in outstanding principal balances with weighted average rate of 4.80%. Included in this March 31, 2020 total are variable rate loans totaling $2,948,076,000 of which 81.2% or $2,394,323,000 were at their floor rate. The remaining variable rate loans totaling $553,753,000, which carried a weighted average rate of 5.37% as of March 31, 2020, are subject to further rate adjustment. If those remaining variable rate loans were to collectively, through future rate adjustments, be reduced to their respective floors, they would have a weighted average rate of approximately 4.40% which would result in the reduction of the weighted average rate of the total loan portfolio from 4.80% to approximately 4.70%.

As of March 31, 2020 the overnight Federal funds rate, the rate primarily used in these interest rate shock scenarios, was less than 1.00%. Based on the historical nature of these rates in the United States not falling below zero, management believes that a shock scenario that reduces interest rates below zero would not provide meaningful results and therefore, have not been modeled. These scenarios assume that 1) interest rates increase or decrease evenly (in a “ramp” fashion) over a twelve-month

period and remain at the new levels beyond twelve months or 2) that interest rates change instantaneously (“shock”). The simulation results shown below assume no changes in the structure of the Company’s balance sheet over the twelve months being measured.

The following table summarizes the estimated effect on net interest income and market value of equity to changing interest rates as measured against a flat rate (no interest rate change) instantaneous shock scenario over a twelve month period utilizing the Company's specific mix of interest earning assets and interest bearing liabilities as of March 31, 2020.

Interest Rate Risk Simulations:

Change in Interest Rates (Basis Points)	Estimated Change in Net Interest Income (NII) (as % of NII)		Estimated Change in Market Value of Equity (MVE) (as % of MVE)
+200 (shock)	0.2	%	13.9	%
+100 (shock)	—	%	9.6	%
+    0 (flat)	—		—
-100 (shock)	(1.7)	%	(29.9)	%
-200 (shock)	nm		nm

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Item 4. Controls and Procedures

The Company’s management, including its Chief Executive Officer and Chief Financial Officer, have evaluated the effectiveness of the Company’s disclosure controls and procedures as of March 31, 2020. Disclosure controls and procedures, as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), are controls and procedures designed to reasonably assure that information required to be disclosed in the Company’s reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported on a timely basis. Disclosure controls are also designed to reasonably assure that such information is accumulated and communicated to the Company’s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Based upon their evaluation, our Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of March 31, 2020.

During the three months ended March 31, 2020, there were no changes in our internal controls or in other factors that have materially affected or are reasonably likely to materially affect our internal controls over financial reporting.

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PART II – OTHER INFORMATION

Item 1 - Legal Proceedings

Due to the nature of our business, we are involved in legal proceedings that arise in the ordinary course of our business. While the outcome of these matters is currently not determinable, we do not expect that the ultimate costs to resolve these matters will have a material adverse effect on our consolidated financial position, results of operations, or cash flows.

Item 1A - Risk Factors

In addition to the other information set forth in this Form 10-Q, you should carefully consider the risk factors that appeared under Item 1A, "Risk Factors" in the Company’s 2019 Annual Report on Form 10-K. There are no material changes from the risk factors included within the Company's 2019 Annual Report on Form 10-K, other than the risks described below.

The ongoing COVID-19 coronavirus pandemic and measures intended to prevent its spread could have a material adverse effect on our business, results of operations and financial condition. The effects depend on future developments, which are highly uncertain and are difficult to predict.

Global health concerns relating to the COVID-19 pandemic and related government actions taken to reduce the spread of the virus have created significant economic uncertainty and reduced economic activity, including within our market areas. On March 13, 2020, a National Emergency relating to the virus was declared. Governmental authorities, include the State of California and many of its local governments, have implemented numerous measures to try to contain the virus, such as travel bans and restrictions, “stay at home” orders and business limitations and shutdowns. These measures have negatively impacted consumer and business spending. Businesses nationwide and in the regions and communities in which we operate have laid off and furloughed significant numbers of employees, leading to record levels of unemployment. These conditions have significantly adversely affected our borrowers, including many different types of small and mid-sized businesses within our client base, particularly those in the gas station, retail, hotel, hospitality and food, beverage, and elective healthcare industries, among many others. The United States government has taken steps to attempt to mitigate some of the more severe anticipated economic effects of the virus, including the passage of the CARES Act, but there can be no assurance that such steps will be effective or achieve their desired results in a timely fashion.

The outbreak has adversely impacted and is likely to further adversely impact our operations and the operations of our borrowers, customers and business partners. In particular, we may experience losses and other adverse effects due to a number of factors impacting us or our borrowers, customers or business partners, including but not limited to:

•increased delinquencies and subsequent credit losses resulting from the weakened financial condition of our borrowers as a result of the outbreak and related governmental actions;

•declines in the value of collateral securing loans we have made;

•court closures and temporary foreclosure and eviction protection laws, even when a customer is in breach of its obligations to us, are likely to restrict our ability to realize on the value of collateral;

•disruption in the businesses of third parties upon who we rely, including outages at network providers and other service providers and suppliers;

•increased cyber and payment fraud risk, as cybercriminals attempt to profit from the disruption, given increased online and remote activity;

•decreased loan growth;

•decreased interest and non-interest income;

•continued decreased demand for certain bank products and services;

•declines in the value of securities we own, as a result of increasing inflation, credit ratings downgrades, deterioration in issuers’ financial condition or a decline in the liquidity for debt securities, for example;

•operational failures due to changes in our normal business practices necessitated by the outbreak and related governmental actions;

•reduced workforce number or capacity which may be caused by, but not limited to, illness, quarantine, stay at home or other government mandates, or difficulties transitioning back to an in-office environment;

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•laws related to benefits and the treatment of employees, for example, mandating coverage of certain COVID-19 related testing and treatment, mandating additional paid or unpaid leave or expanding workers compensation coverage;

•volatile market prices of securities, including our common stock;

•unavailability of key personnel or a significant number of our employees due to the effects and restrictions of a COVID-19 outbreak within our market area;

•increased risk of litigation and governmental and regulatory scrutiny as a result of the effects of the COVID-19 pandemic on market and economic conditions and actions governmental authorities take in response to those conditions; and

•additional costs to remedy damages, losses or disruption caused by such events

These factors may remain prevalent for a significant period of time and may continue to adversely affect our business, results of operations and financial condition even after the COVID-19 outbreak has subsided.

The spread of COVID-19 has caused us to modify our business practices (including restricting employee travel, and developing work from home and social distancing plans for our employees), and we may take further actions as may be required by government authorities or as we determine are in the best interests of our employees, customers and business partners. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus or will otherwise be satisfactory to government authorities.

The extent to which the coronavirus outbreak impacts our business, results of operations and financial condition will depend on future developments, which are highly uncertain and are difficult to predict, including, but not limited to, the duration and spread of the outbreak, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. The longer the public health crisis lasts, and the greater its severity, the greater the likely material adverse impact on the economy, our customers and our business and financial performance. Even after the COVID-19 outbreak has subsided, we may continue to experience materially adverse impacts to our business as a result of the virus’s economic impact and any recession that has occurred or may occur in the future.

There are no comparable recent events that provide guidance as to the effect the spread of COVID-19 as a global pandemic may have, and, as a result, we do not yet know the full extent of the impacts on our business, our operations or the economy as a whole. However, we believe the effects could have a material impact on our results of operations and heighten many of our known risks described in the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2019.

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds

The following table shows the repurchases made by the Company or any affiliated purchaser (as defined in Rule 10b-18(a)(3) under the Exchange Act) during the periods indicated:

Period	(a) Total number of shares purchased (1)	(b) Average price paid per share		(c) Total number of shares purchased as of part of publicly announced plans or programs	(d) Maximum number of shares that may yet be purchased under the plans or programs (2)
January 1-31, 2020	71	$	40.16	—	1,525,000
February 1-29, 2020	139,058	$	36.59	138,996	1,386,004
March 1-31, 2020	419,541	$	29.08	414,873	971,131
Total	558,670	$	36.48	553,869

⁽¹⁾Includes shares purchased by the Company’s Employee Stock Ownership Plan in open market purchases and tendered by employees pursuant to various other equity incentive plans. See Note 9 to the condensed consolidated financial statements at Item 1 of Part I of this report, for a discussion of the Company’s stock repurchased under equity compensation plans.

⁽²⁾Does not include shares that may be purchased by the Company’s Employee Stock Ownership Plan and pursuant to various other equity incentive plans. See Note 9 to the condensed consolidated financial statements at Item 1 of Part I of this report, for a discussion of the Company’s stock repurchase plan.

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Item 6 – Exhibits

EXHIBIT INDEX

Exhibit  No.	Exhibit
31.1	Rule 13a-14(a)/15d-14(a) Certification of CEO
31.2	Rule 13a-14(a)/15d-14(a) Certification of CFO
32.1	Section 1350 Certification of CEO
32.2	Section 1350 Certification of CFO
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TRICO BANCSHARES
	(Registrant)
Date: May 11, 2020	/s/ Peter G. Wiese
	Peter G. Wiese
	Executive Vice President and Chief Financial Officer
	(Duly authorized officer and principal financial and chief accounting officer)

59

EX-31.1

Exhibit 31.1

Rule 13a-14(a)/15d-14(a) Certification of CEO

I, Richard P. Smith, certify that;

1.I have reviewed this report on Form 10-Q of TriCo Bancshares;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 11, 2020	/s/ Richard P. Smith
	Richard P. Smith
	President and Chief Executive Officer

EX-31.2

Exhibit 31.2

Rule 13a-14(a)/15d-14(a) Certification of CFO

I, Peter G. Wiese, certify that;

1.I have reviewed this report on Form 10-Q of TriCo Bancshares;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 11, 2020	/s/ Peter G. Wiese
	Peter G. Wiese
	Executive Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

Section 1350 Certification of CEO

In connection with the Quarterly Report of TriCo Bancshares (the “Company”) on Form 10-Q for the period ended March 31, 2020 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Richard P. Smith, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Richard P. Smith

Richard P. Smith

President and Chief Executive Officer

A signed original of this written statement required by Section 906 has been provided to TriCo Bancshares and will be retained by TriCo Bancshares and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

Section 1350 Certification of CFO

In connection with the Quarterly Report of TriCo Bancshares (the “Company”) on Form 10-Q for the period ended March 31, 2020 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Peter G. Wiese, Executive Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company

/s/ Peter G. Wiese

Peter G. Wiese

Executive Vice President and Chief Financial Officer

A signed original of this written statement required by Section 906 has been provided to TriCo Bancshares and will be retained by TriCo Bancshares and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Fair Value Measurement - Quantitative Information about (Level 3) Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Foreclosed assets (Residential real estate)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		$ 417
Individually evaluated loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 105	$ 1,055

XML

Leases - Future Minimum Rental Payments For Operating Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2020	$ 3,412
2021	4,428
2022	4,089
2023	3,410
2024	3,130
Thereafter	17,337
Total	35,806
Discount for present value of expected cash flows	(5,799)
Lease liability at March 31, 2020	$ 30,007	$ 27,540

XML

Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease cost	$ 1,294	$ 1,311
Short-term lease cost	63	71
Variable lease cost	6	(5)
Sublease income	(34)	(34)
Lease, Cost, Total	$ 1,329	$ 1,343

XML

Shareholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Dec. 31, 2019	Nov. 12, 2019
Class of Stock [Line Items]
Cash dividends received	$ 26,754	$ 8,114
Repurchase of common stock (in shares)					1,525,000
Shares repurchased as a percentage of total shares outstanding					5.00%
Repurchase of common stock	17,295	1,035
Market value of shares repurchased under equity compensation plans	$ 148	$ 647
Minimum
Class of Stock [Line Items]
Company's common stock in lieu of cash to exercise options to purchase shares (in shares)	133	91
2007 Stock Repurchase Plan
Class of Stock [Line Items]
Cumulative number of shares repurchased (in shares)				0
Repurchase of common stock (in shares)			553,869
Repurchase of common stock			$ 17,139
Stock repurchase program cumulative number of shares repurchased during the period (in shares)				0
Common Stock
Class of Stock [Line Items]
Repurchase of common stock (in shares)	558,670	26,159
Repurchase of common stock	$ 9,962	$ 466
Common Stock | Minimum
Class of Stock [Line Items]
Company's common stock in lieu of cash to exercise options to purchase shares (in shares)	4,668
Market value of shares repurchased under equity compensation plans	$ 153
Common Stock | Maximum
Class of Stock [Line Items]
Company's common stock in lieu of cash to exercise options to purchase shares (in shares)		26,068
Market value of shares repurchased under equity compensation plans		$ 1,036

XML

Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Amortized cost, due in one year, available for sale	$ 604
Amortized cost, due after one year through five years, available for sale	18,264
Amortized cost, due after five years through ten years, available for sale	114,545
Amortized cost, due after ten years, available for sale	894,760
Amortized Cost	1,028,173	$ 946,751
Estimated fair value, due in one year, available for sale	607
Estimated fair value, due after one year through five years, available for sale	18,958
Estimated fair value, due after five years through ten years, available for sale	103,673
Estimated fair value, due after ten years, available for sale	878,761
Estimated Fair Value	1,001,999	950,138
Amortized cost, due within one year, held to maturity	1,279
Amortized cost, due after one year through five years, held to maturity	0
Amortized cost, due after five years through ten years, held to maturity	22,271
Amortized cost, due after ten years, held to maturity	336,220
Amortized cost, held to maturity	359,770	375,606
Estimated fair value, due within one year, held to maturity	1,285
Estimated fair value, due after one year through five years, held to maturity	0
Estimated fair value, due after five years through ten years, held to maturity	23,136
Estimated fair value, due after ten years, held to maturity	353,021
Estimated fair value, held to maturity	$ 377,442	$ 381,525

XML

Non-interest Income and Expense (Tables)

3 Months Ended

Mar. 31, 2020

Other Income and Expenses [Abstract]

Components of Non-Interest Income

The following table summarizes the Company’s non-interest income for the periods indicated:

	Three months ended March 31,
(dollars in thousands)	2020		2019
ATM and interchange fees	$	5,111	$	4,581
Service charges on deposit accounts	4,046		3,880
Other service fees	758		771
Mortgage banking service fees	469		483
Change in value of mortgage servicing rights	(1,258)		(645)
Total service charges and fees	9,126		9,070
Increase in cash value of life insurance	720		775
Asset management and commission income	916		642
Gain on sale of loans	891		412
Lease brokerage income	193		220
Sale of customer checks	124		140
Gain on sale of investment securities	—		—
Gain on marketable equity securities	47		36
Other	(197)		508
Total other non-interest income	2,694		2,733
Total non-interest income	$	11,820	$	11,803

Components of Non Interest Expense

The components of non-interest expense were as follows (in thousands):

	Three months ended March 31,
	2020		2019
Base salaries, net of deferred loan origination costs	$	17,623	$	16,757
Incentive compensation	3,101		2,567
Benefits and other compensation costs	6,548		5,804
Total salaries and benefits expense	27,272		25,128
Occupancy	3,875		3,774
Data processing and software	3,367		3,349
Equipment	1,512		1,867
Intangible amortization	1,431		1,431
Advertising	665		1,331
ATM and POS network charges	1,373		1,323
Professional fees	703		839
Telecommunications	725		797
Regulatory assessments and insurance	95		511
Postage	290		310
Operational losses	221		225
Courier service	331		270
Gain on sale of foreclosed assets	(41)		(99)
Loss on disposal of fixed assets	—		24
Other miscellaneous expense	3,000		4,372
Total other non-interest expense	17,547		20,324
Total non-interest expense	$	44,819	$	45,452

XML

Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2020

Banking and Thrift [Abstract]

Actual and Required Capital Ratios of Bank

	Actual				Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of March 31, 2020:	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	762,763	15.12	%	$	529,576	10.50	%	N/A		N/A
Tri Counties Bank	$	755,893	14.99	%	$	529,388	10.50	%	$	504,179	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	702,007	13.92	%	$	428,705	8.50	%	N/A		N/A
Tri Counties Bank	$	695,137	13.79	%	$	428,552	8.50	%	$	403,343	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	646,407	12.82	%	$	353,051	7.00	%	N/A		N/A
Tri Counties Bank	$	695,137	13.79	%	$	352,925	7.00	%	$	327,716	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	702,007	11.22	%	$	250,216	4.00	%	N/A		N/A
Tri Counties Bank	$	695,137	11.11	%	$	250,209	4.00	%	$	312,762	5.00	%

	Actual					Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of December 31, 2019:	Amount		As of :	Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	753,200		15.07	%	$	524,944	10.50	%	N/A		N/A
Tri Counties Bank	$	748,660		14.98	%	$	524,759	10.50	%	$	499,770	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	719,809		14.40	%	$	424,955	8.50	%	N/A		N/A
Tri Counties Bank	$	715,269		14.31	%	$	424,805	8.50	%	$	399,816	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	664,296		13.29	%	$	349,963	7.00	%	N/A		N/A
Tri Counties Bank	$	715,269		14.31	%	$	349,839	7.00	%	$	324,851	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	719,809		11.55	%	$	249,343	4.00	%	N/A		N/A
Tri Counties Bank	$	715,269		11.47	%	$	249,337	4.00	%	$	311,672	5.00	%

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Shareholders' Equity

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Dividends Paid

The Bank paid to the Company cash dividends in the aggregate amounts of $26,754,000 and $8,114,000 during the three months ended March 31, 2020 and 2019, respectively. The Bank is regulated by the Federal Deposit Insurance Corporation (FDIC) and the State of California Department of Business Oversight (DBO). Absent approval from the Commissioner of the DBO, California banking laws generally limit the Bank’s ability to pay dividends to the lesser of (1) retained earnings or (2) net income for the last three fiscal years, less cash distributions paid during such period.

Stock Repurchase Plan

On November 12, 2019 the Board of Directors approved the authorization to repurchase up to 1,525,000 shares of the Company's common stock (the 2019 Repurchase Plan), which approximated 5.0% of the shares outstanding as of the approval date. The actual timing of any share repurchases will be determined by the Company's management and therefore the total value of the shares to be purchased under the program is subject to change. The 2019 Repurchase Plan has no expiration date and as of and for quarter ended December 31, 2019, the Company had repurchased no shares. During the quarter ended March 31, 2020, the Company repurchased 553,869 shares with a market value of $17,139,000.

In connection with approval of the 2019 Repurchase Plan, the Company’s previous repurchase program adopted on August 21, 2007 (the 2007 Repurchase Plan) was terminated. There were no shares of common stock repurchased under the 2007 Repurchase Plan during 2019.

Stock Repurchased Under Equity Compensation Plans

The Company's shareholder-approved equity compensation plans permit employees to tender recently vested shares in lieu of cash for the payment of withholding taxes on such shares. During the three months ended March 31, 2020 and 2019, employees tendered 4,668 and 26,068 shares, respectively, of the Company’s common stock in connection with option exercises. Employees also tendered 133 and 91 shares in connection with the tax withholding requirements of other share based awards during the three months ended March 31, 2020 and 2019, respectively. In total, shares of the Company's common stock tendered had market values of $153,000 and $1,036,000 during the quarter ended March 31, 2020 and 2019, respectively. The tendered shares were retired. The market value of tendered shares is the last market trade price at closing on the day an option is exercised or the other share based award vests. Stock repurchased under equity incentive plans are not included in the total of stock repurchased under the 2019 or 2007 Stock Repurchase Plans.

XML

Allowance for Credit Losses

3 Months Ended

Mar. 31, 2020

Allowance For Loan And Lease Losses [Abstract]

Allowance for Credit Losses

Allowance for Credit Losses

The following tables summarize the activity in the allowance for credit losses on loans, and ending balance of loans, net of unearned fees for the periods indicated:

	Allowance for Loan Losses – Three Months Ended March 31, 2020
(in thousands)	Beginning Balance		Impact of CECL Adoption		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,306	$	2,675	$	—	$	410	$	259	$	5,650
Commercial	11,995		11,848		—		194		5,216		29,253
Total mortgage loans on real estate	14,301		14,523		—		604		5,475		34,903
Consumer:
Home equity lines of credit	5,572		4,549		—		33		369		10,523
Home equity loans	611		89		—		15		(42)		673
Other	1,595		971		(130)		94		216		2,746
Total consumer loans	7,778		5,609		(130)		142		543		13,942
Commercial	5,149		(2,152)		(380)		146		1,708		4,471
Construction:
Residential	630		189		—		—		5		824
Commercial	2,758		744		—		—		269		3,771
Total construction loans	3,388		933		—		—		274		4,595
Total	$	30,616	$	18,913	$	(510)	$	892	$	8,000	$	57,911

In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At both January 1, 2020, the adoption and implementation date of ASC Topic 326, and March 31, 2020, the Company utilized a reasonable and supportable forecast period of approximately eight quarters and obtained the forecast data from publicly available sources. The Company also considered the impact of portfolio concentrations, changes in underwriting practices, imprecision in its economic forecasts, and other risk factors that might influence its loss estimation process. During the quarter ended March 31, 2020 the levels of actual and forecasted California unemployment and gross domestic product continued to deteriorate and as a result, were the primary cause for the increase in allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2020 appropriately reflected expected credit losses inherent in the loan portfolio at that date.

	Allowance for Loan Losses – Year Ended December 31, 2019
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,676	$	(2)	$	54	$	(422)	$	2,306
Commercial	12,944		(746)		1,528		(1,731)		11,995
Total mortgage loans on real estate	15,620		(748)		1,582		(2,153)		14,301
Consumer:
Home equity lines of credit	6,042		—		504		(974)		5,572
Home equity loans	1,540		(3)		431		(1,357)		611
Other	793		(765)		321		1,246		1,595
Total consumer loans	8,375		(768)		1,256		(1,085)		7,778
Commercial	6,090		(2,123)		525		657		5,149
Construction:
Residential	464		—		—		166		630
Commercial	2,033		—		—		725		2,758
Total construction loans	2,497		—		—		891		3,388
Total	$	32,582	$	(3,639)	$	3,363	$	(1,690)	$	30,616

	Allowance for Loan Losses – Three Months Ended March 31, 2019
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,676	$	—	$	2	$	(178)	$	2,500
Commercial	12,944		—		1,381		(1,995)		12,330
Total mortgage loans on real estate	15,620		—		1,383		(2,173)		14,830
Consumer:
Home equity lines of credit	6,042		—		95		(122)		6,015
Home equity loans	1,540		—		87		(341)		1,286
Other	793		(207)		75		379		1,040
Total consumer loans	8,375		(207)		257		(84)		8,341
Commercial	6,090		(519)		168		339		6,078
Construction:
Residential	464		—		—		84		548
Commercial	2,033		—		—		234		2,267
Total construction loans	2,497		—		—		318		2,815
Total	$	32,582	$	(726)	$	1,808	$	(1,600)	$	32,064

As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including, but not limited to, trends relating to (i) the level of criticized and classified loans, (ii) net charge-offs, (iii) non-performing loans, and (iv) delinquency within the portfolio. The Company analyzes loans individually to classify the loans as to credit risk and grading. This analysis is performed annually for all outstanding balances greater than $1,000,000 and non-homogeneous loans, such as commercial real estate loans, unless other indicators, such as delinquency, trigger more frequent evaluation. Loans below the $1,000,000 threshold and homogenous in nature are evaluated as needed based on delinquency and borrower credit scores.

The Company utilizes a risk grading system to assign a risk grade to each of its loans. Loans are graded on a scale ranging from Pass to Loss. A description of the general characteristics of the risk grades is as follows:

•Pass– This grade represents loans ranging from acceptable to very little or no credit risk. These loans typically meet most if not all policy standards in regard to: loan amount as a percentage of collateral value, debt service coverage, profitability, leverage, and working capital.

•Special Mention– This grade represents “Other Assets Especially Mentioned” in accordance with regulatory guidelines and includes loans that display some potential weaknesses which, if left unaddressed, may result in deterioration of the repayment prospects for the asset or may inadequately protect the Company’s position in the future. These loans warrant more than normal supervision and attention.

•Substandard– This grade represents “Substandard” loans in accordance with regulatory guidelines. Loans within this rating typically exhibit weaknesses that are well defined to the point that repayment is jeopardized. Loss potential is, however, not necessarily evident. The underlying collateral supporting the credit appears to have sufficient value to protect the Company from loss of principal and accrued interest, or the loan has been written down to the point where this is true. There is a definite need for a well-defined workout/rehabilitation program.

•Doubtful– This grade represents “Doubtful” loans in accordance with regulatory guidelines. An asset classified as Doubtful has all the weaknesses inherent in a loan classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and financing plans.

•Loss– This grade represents “Loss” loans in accordance with regulatory guidelines. A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan, even though some recovery may be affected in the future. The portion of the loan that is graded loss should be charged off no later than the end of the quarter in which the loss is identified.

Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated:

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Mortgage loans on real estate:
Residential 1-4 family risk ratings
Pass	$25,698	$102,369	$59,278	$69,504	$60,063	$179,461	—	$117	$496,490
Special Mention	—	—	—	868	18	2,953	—	105	3,944
Substandard	—	—	574	996	51	4,778	—	—	6,399
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total residential 1-4 family - mortgage loans	$25,698	$102,369	$59,852	$71,368	$60,132	$187,192	$—	$222	$506,833

Mortgage loans on real estate:
Commercial risk ratings
Pass	$82,428	$457,462	$364,082	$443,054	$407,011	$967,584	$102,830	$1,501	$2,825,952
Special Mention	70	2,288	—	7,618	11,562	10,722	12,588	—	44,848
Substandard	200	1,394	1,445	1,580	3,191	9,801	772	—	18,383
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial - mortgage loans	$82,698	$461,144	$365,527	$452,252	$421,764	$988,107	$116,190	$1,501	$2,889,183

Consumer loans:
Home equity line of credit risk ratings
Pass	$2,859	$8,591	$2,967	$714	$1,561	$10,815	$304,911	$627	$333,045
Special Mention	80	—	36	46	70	644	3,524	—	4,400
Substandard	—	—	57	529	80	1,078	2,266	6	4,016
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total home equity lines of credit - consumer loans	$2,939	$8,591	$3,060	$1,289	$1,711	$12,537	$310,701	$633	$341,461

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Consumer loans:
Home equity loans risk ratings
Pass	$2	$580	$290	$378	$673	$21,191	$500	$16	$23,630
Special Mention	—	—	19	—	—	906	—	—	925
Substandard	153	—	—	—	145	2,257	—	—	2,555
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total home equity loans - consumer loans	$155	$580	$309	$378	$818	$24,354	$500	$16	$27,110

Consumer loans:
Other risk ratings
Pass	$7,679	$40,454	$20,465	$6,221	$1,883	$1,787	$1,747	$1,407	$81,643
Special Mention	—	53	170	141	44	158	83	2	651
Substandard	—	59	—	12	11	35	16	—	133
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total other - consumer loans	$7,679	$40,566	$20,635	$6,374	$1,938	$1,980	$1,846	$1,409	$82,427

Commercial loans:
Commercial risk ratings
Pass	$15,616	$66,145	$32,209	$25,226	$10,041	$17,434	$112,189	$5,164	$284,024
Special Mention	—	—	75	539	149	110	604	700	2,177
Substandard	—	153	382	1,236	1,262	201	725	174	4,133
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial loans	$15,616	$66,298	$32,666	$27,001	$11,452	$17,745	$113,518	$6,038	$290,334

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Construction loans:
Residential risk ratings
Pass	$1,725	$15,703	$17,067	$0	$3,459	$0	$0	$0	$37,954
Special Mention	—	—	—	—	4,379	—	—	—	4,379
Substandard	—	—	—	—	—	—	—	—	—
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total residential - construction loans	$1,725	$15,703	$17,067	$0	$7,838	$0	$0	$0	$42,333

Construction loans:
Commercial risk ratings
Pass	$14,081	$35,515	$82,740	$43,455	$15,793	$5,709	$0	$0	$197,293
Special Mention	—	—	—	—	—	1,845	—	—	1,845
Substandard	—	—	—	—	—	243	—	—	243
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial - construction loans	$14,081	$35,515	$82,740	$43,455	$15,793	$7,797	$0	$0	$199,381

Total loans:
Risk ratings
Pass	$150,088	$726,819	$579,098	$588,552	$500,484	$1,203,981	$522,177	$8,832	$4,280,031
Special Mention	150	2,341	300	9,212	16,222	17,338	16,799	807	63,169
Substandard	353	1,606	2,458	4,353	4,740	18,393	3,779	180	35,862
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total loans	$150,591	$730,766	$581,856	$602,117	$521,446	$1,239,712	$542,755	$9,819	$4,379,062

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Mortgage loans on real estate:
Residential 1-4 family risk ratings
Pass		$102,613	$63,542	$73,195	$65,050	$194,214	—	—	$498,614
Special Mention		—	—	1,408	19	3,287	—	—	4,714
Substandard		—	813	711	52	4,604	—	—	6,180
Doubtful/Loss		—	—	—	—	—	—	—	$0
Total residential 1-4 family - mortgage loans		$102,613	$64,355	$75,314	$65,121	$202,105	$—	$—	$509,508

Mortgage loans on real estate:
Commercial risk ratings
Pass	$446,597	$373,065	$421,901	$415,568	$1,010,057	$107,965	$748	$2,775,901
Special Mention	—	—	4,965	9,373	8,467	2,253	—	25,058
Substandard	830	1,454	1,591	3,216	9,937	795	—	17,823
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial - mortgage loans	$447,427	$374,519	$428,457	$428,157	$1,028,461	$111,013	$748	$2,818,782

Consumer loans:
Home equity line of credit risk ratings
Pass	$10,195	$3,436	$1,015	$1,729	$11,821	$297,458	$663	$326,317
Special Mention	—	11	47	31	665	3,398	37	4,189
Substandard	—	59	253	77	1,223	2,146	36	3,794
Doubtful/Loss	—	—	—	—	—	—	—	—
Total home equity lines of credit - consumer loans	$10,195	$3,506	$1,315	$1,837	$13,709	$303,002	$736	$334,300

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Consumer loans:
Home equity loans risk ratings
Pass		$607	$300	$382	$712	$22,655	$399	$37	$25,092
Special Mention		—	20	—	—	1,172	—	—	1,192
Substandard		—	—	—	156	2,146	—	—	2,302
Doubtful/Loss		—	—	—	—	—	—	—	—
Total home equity loans - consumer loans		$607	$320	$382	$868	$25,973	$399	$37	$28,586

Consumer loans:
Other risk ratings
Pass	$45,675	$23,014	$7,176	$2,245	$2,099	$1,602	$3	$81,814
Special Mention	56	182	176	52	172	81	—	719
Substandard	60	—	13	1	45	1	3	123
Doubtful/Loss	—	—	—	—	—	—	—	—
Total other - consumer loans	$45,791	$23,196	$7,365	$2,298	$2,316	$1,684	$6	$82,656

Commercial loans:
Commercial risk ratings
Pass	$77,614	$37,411	$27,195	$11,906	$17,806	$100,098	$3,623	$275,653
Special Mention	—	339	1,236	167	164	1,921	—	3,827
Substandard	—	48	1,481	1,646	393	611	48	4,227
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial loans	$77,614	$37,798	$29,912	$13,719	$18,363	$102,630	$3,671	$283,707

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Construction loans:
Residential risk ratings
Pass		$18,516	$12,990	$0	$3,319	$0	$6,230	$889	$41,944
Special Mention		—	—	—	4,202	—	—	—	4,202
Substandard		—	—	—	—	—	—	—	—
Doubtful/Loss		—	—	—	—	—	—	—	—
Total residential - construction loans		$18,516	$12,990	$0	$7,521	$0	$6,230	$889	$46,146

Construction loans:
Commercial risk ratings
Pass	$31,031	$72,339	$76,043	$15,654	$7,322	$975	$0	$203,364
Special Mention	—	—	—	—	317	—	—	317
Substandard	—	—	—	—	—	—	—	—
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial - construction loans	$31,031	$72,339	$76,043	$15,654	$7,639	$975	$0	$203,681

Total loans:
Risk ratings
Pass	$732,848	$586,097	$606,907	$516,183	$1,265,974	$514,727	$5,963	$4,228,699
Special Mention	56	552	7,832	13,844	14,244	7,653	37	44,218
Substandard	890	2,374	4,049	5,148	18,348	3,553	87	34,449
Doubtful/Loss	—	—	—	—	—	—	—	—
Total loans	$733,794	$589,023	$618,788	$535,175	$1,298,566	$525,933	$6,087	$4,307,366

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of March 31, 2020
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Mortgage loans on real estate:
Residential 1-4 family	$	699	$	—	$	1,763	$	2,462	$	504,371	$	506,833
Commercial	18,445		1,283		2,675		22,403		2,866,780		2,889,183
Total mortgage loans on real estate	19,144		1,283		4,438		24,865		3,371,151		3,396,016
Consumer:
Home equity lines of credit	572		85		1,118		1,775		339,686		341,461
Home equity loans	200		64		193		457		26,653		27,110
Other	100		12		114		226		82,201		82,427
Total consumer loans	872		161		1,425		2,458		448,540		450,998
Commercial	1,014		932		70		2,016		288,318		290,334
Construction:
Residential	—		—		—		—		42,333		42,333
Commercial	—		—		—		—		199,381		199,381
Total construction loans	—		—		—		—		241,714		241,714
Total originated loans	$	21,030	$	2,376	$	5,933	$	29,339	$	4,349,723	$	4,379,062

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of December 31, 2019
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Mortgage loans on real estate:
Residential 1-4 family	$	1,149	$	371	$	1,957	$	3,477	$	506,031	$	509,508
Commercial	581		136		2,431		3,148		2,815,634		2,818,782
Total mortgage loans on real estate	1,730		507		4,388		6,625		3,321,665		3,328,290
Consumer:
Home equity lines of credit	1,083		363		956		2,402		331,898		334,300
Home equity loans	175		216		132		523		28,063		28,586
Other	172		1		23		196		82,460		82,656
Total consumer loans	1,430		580		1,111		3,121		442,421		445,542
Commercial	652		298		24		974		282,733		283,707
Construction:
Residential	—		—		—		—		46,146		46,146
Commercial	—		—		—		—		203,681		203,681
Total construction loans	—		—		—		—		249,827		249,827
Total loans	$	3,812	$	1,385	$	5,523	$	10,720	$	4,296,646	$	4,307,366

The following table shows the ending balance of non accrual loans by loan category as of the date indicated:

	Non Accrual Loans
	As of March 31, 2020						As of December 31, 2019
(in thousands)	Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing		Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing
Mortgage loans on real estate:
Residential 1-4 family	$	5,169	$	5,784	$	—	$	5,023	$	5,192	$	—
Commercial	5,451		5,514		—		5,316		5,316		—
Total mortgage loans on real estate	10,620		11,298		—		10,339		10,508		—
Consumer:
Home equity lines of credit	2,760		3,210		—		2,419		2,590		—
Home equity loans	1,523		1,654		—		1,574		1,626		—
Other	—		140		—		4		51		11
Total consumer loans	4,283		5,004				3,997		4,267		11
Commercial	298		1,653		—		489		2,089		—
Construction:
Residential	—		—		—		—		—		—
Commercial	—		—		—		—		—		—
Total construction	—		—		—		—		—		—
Total non accrual loans	$	15,201	$	17,955	$	—	$	14,825	$	16,864	$	11

Interest income on non accrual loans that would have been recognized during the three months ended March 31, 2020 and 2019, if all such loans had been current in accordance with their original terms, totaled $431,000 and $400,000, respectively. Interest income actually recognized on these originated loans during the three months ended March 31, 2020 and 2019 was $47,000 and $93,000, respectively.

The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods:

	As of March 31, 2020
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Unsecured		Total
Mortgage loans on real estate:
Residential 1-4 family	$	—	$	—	$	—	$	—	$	—	$	—	$	5,815	$	—	$	—	$	—	$	—	$	—	$	5,815
Commercial	2,483		161		1,866		506		2,060		1,203		—		—		—		—		—		—		8,279
Total mortgage loans on real estate	2,483		161		1,866		506		2,060		1,203		5,815		—		—		—		—		—		14,094
Consumer:
Home equity lines of credit	—		—		—		—		—		—		—		1,936		—		—		—		—		1,936
Home equity loans	—		—		—		—		—		—		—		2,106		—		—		—		—		2,106
Other	—		—		—		—		—		156		47		—		127		—		—		4		334
Total consumer loans	—		—		—		—		—		156		47		4,042		127		—		—		4		4,376
Commercial	—		—		—		—		—		—		—		—		—		1,824		1,012		116		2,952
Total collateral dependent loans	$	2,483	$	161	$	1,866	$	506	$	2,060	$	1,359	$	5,862	$	4,042	$	127	$	1,824	$	1,012	$	120	$	21,422

	As of December 31, 2019
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Unsecured		Total
Mortgage loans on real estate:
Residential 1-4 family	$	—	$	—	$	—	$	—	$	—	$	—	$	5,293	$	—	$	—	$	—	$	—	$	—	$	5,293
Commercial	2,506		163		1,640		509		2,060		1,242		—		—		—		—		—		—		8,120
Total mortgage loans on real estate	2,506		163		1,640		509		2,060		1,242		5,293		—		—		—		—		—		13,413
Consumer:
Home equity lines of credit	—		—		—		—		—		—		—		1,808		—		—		—		—		1,808
Home equity loans	—		—		—		—		—		—		—		2,040		—		—		—		—		2,040
Other	—		—		—		—		—		—		48		—		27		—		—		4		79
Total consumer loans	—		—		—		—		—		—		48		3,848		27		—		—		4		3,927
Commercial	—		—		—		—		—		—		—		—		—		1,952		1,026		107		3,085
Total collateral dependent loans	$	2,506	$	163	$	1,640	$	509	$	2,060	$	1,242	$	5,341	$	3,848	$	27	$	1,952	$	1,026	$	111	$	20,425

The following tables show certain information regarding TDRs that occurred during the periods indicated:

	TDR Information for the three months ended March 31, 2020
(dollars in thousands)	Number	Pre-mod outstanding principal balance		Post-mod outstanding principal balance		Financial impact due to TDR taken as additional provision		Number that defaulted during the period	Recorded investment of TDRs that defaulted during the period		Financial impact due to the default of previous TDR taken as charge- offs or additional provisions
Mortgage loans on real estate:
Residential 1-4 family	—	$	—	$	—	$	—	1	$	302	$	—
Commercial	3	487		549		—		—	—		—
Total mortgage loans on real estate	3	487		549		—		1	302		—
Consumer:
Home equity lines of credit	—	—		—		—		—	—		—
Home equity loans	2	172		169		—		—	—		—
Other	—	—		—		—		—	—		—
Total consumer loans	2	172		169		—		—	—		—
Commercial	1	21		20		21		—	—		—
Construction:
Residential	—	—		—		—		—	—		—
Commercial	—	—		—		—		—	—		—
Total construction loans	—	—		—		—		—	—		—
Total	6	$	680	$	738	$	21	1	$	302	$	—

	TDR Information for the three months ended March 31, 2019
(dollars in thousands)	Number	Pre-mod outstanding principal balance		Post-mod outstanding principal balance		Financial impact due to TDR taken as additional provision		Number that defaulted during the period		Recorded investment of TDRs that defaulted during the period		Financial impact due to the default of previous TDR taken as charge- offs or additional provisions
Mortgage loans on real estate:
Residential 1-4 family	—	$	163	$	162	$	—	$	—	$	—	$	—
Commercial	—	—		—		—		—		—		—
Total mortgage loans on real estate	1	163		162		—		—		—		—
Consumer:
Home equity lines of credit	—	—		—		—		—		—		—
Home equity loans	1	121		120		1		—		—		—
Other	—	—		—		—		—		—		—
Total consumer loans	1	121		120		1		—		—		—
Commercial	2	15		15		—		1		7		—
Construction:
Residential	—	—				—		—		—		—
Commercial	—	—				—		—		—		—
Total construction loans	—	—		—		—		—		—		—
Total	4	$	299	$	297	$	1	1		$	7	$	—

The Company also modified the terms of select loans in an effort to assist borrowers that were not related to the COVID-19 pandemic. If the borrower was experiencing financial difficulty and a concession was granted, the Company considered such modifications as troubled debt restructurings. Modifications classified as TDRs can include one or a combination of the following: rate modifications, term extensions, interest only modifications, either temporary or long-term, payment modifications, and collateral substitutions/additions. The objective of the modifications was to increase loan repayments by customers and thereby reduce net charge-offs. The modified loans are included in impaired loans for purposes of determining the level of the allowance for credit losses.

For all new TDRs, an impairment analysis is conducted. If the loan is determined to be collateral dependent, any additional amount of impairment will be calculated based on the difference between estimated collectible value and the current carrying balance of the loan. This difference could result in an increased provision and is typically charged off. If the asset is determined not to be collateral dependent, the impairment is measured on the net present value difference between the expected cash flows of the restructured loan and the cash flows which would have been received under the original terms. The effect of this could result in a requirement for additional provision to the reserve. The effect of these required provisions for the period are indicated above.

Typically if a TDR defaults during the period, the loan is then considered collateral dependent and, if it was not already considered collateral dependent, an appropriate provision will be reserved or charge will be taken. The additional provisions required resulting from default of previously modified TDR’s are noted above. Loans that defaulted within the twelve month period subsequent to modification were not considered significant for financial reporting purposes.

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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Estimated Fair Values of Investments Securities

The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables:

	March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
			(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	447,736	$	21,482	$	—	$	—	$	469,218
Obligations of states and political subdivisions	110,564		3,561		—		—		114,125
Corporate bonds	2,437		138		—		—		2,575
Asset backed securities	467,436		8		(51,363)		—		416,081
Total debt securities available for sale	$	1,028,173	$	25,189	$	(51,363)	$	—	$	1,001,999

	March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Allowance for Credit Losses
	(in thousands)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	345,944	$	17,352	$	(4)	$	363,292	$	—
Obligations of states and political subdivisions	13,826		324		—		14,150		—
Total debt securities held to maturity	$	359,770	$	17,676	$	(4)	$	377,442	$	—

	December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
			(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	466,139	$	7,261	$	(420)	$	472,980
Obligations of states and political subdivisions	106,373		3,229		(1)		109,601
Corporate bonds	2,430		102		—		2,532
Asset backed securities	371,809		129		(6,913)		365,025
Total debt securities available for sale	$	946,751	$	10,721	$	(7,334)	$	950,138
Debt Securities Held to Maturity
Obligations of U.S. government agencies	361,785		6,072		(480)		367,377
Obligations of states and political subdivisions	13,821		327		—		14,148
Total debt securities held to maturity	$	375,606	$	6,399	$	(480)	$	381,525

Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity

As of March 31, 2020, the contractual final maturity for available for sale and held to maturity investment securities is as follows:

Debt Securities	Available for Sale				Held to Maturity
(in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year	$	604	$	607	$	1,279	$	1,285
Due after one year through five years	18,264		18,958		—		—
Due after five years through ten years	114,545		103,673		22,271		23,136
Due after ten years	894,760		878,761		336,220		353,021
Totals	$	1,028,173	$	1,001,999	$	359,770	$	377,442

Gross Unrealized Losses on Investment Securities

Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and

length of time that individual securities have been in a continuous unrealized loss position, were as follows:

	Less than 12 months				12 months or more				Total
March 31, 2020:	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
					(in thousands)
Debt Securities Available for Sale
Asset backed securities	$	166,612	$	(13,000)	$	248,222	$	(38,363)	$	414,834	$	(51,363)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	707	$	(4)	$	—	$	—	$	707	$	(4)

	Less than 12 months				12 months or more				Total
December 31, 2019:	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
					(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	36,709	$	(309)	$	23,852	$	(111)	$	60,561	$	(420)
Obligations of states and political subdivisions	778		(1)		—		—		778		(1)
Asset backed securities	237,463		(4,535)		99,981		(2,378)		337,444		(6,913)
Total debt securities available for sale	$	274,950	$	(4,845)	$	123,833	$	(2,489)	$	398,783	$	(7,334)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	18,813		(142)		62,952		(338)		81,765		(480)
Total debt securities held to maturity	$	18,813	$	(142)	$	62,952	$	(338)	$	81,765	$	(480)

Amortized Cost of Debt Securities Held-to-Maturity

The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:

	March 31, 2020				December 31, 2019
	AAA/AA/A		BBB/BB/B		AAA/AA/A		BBB/BB/B
	(In thousands)				(In thousands)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	345,944	$	—	$	361,785	$	—
Obligations of states and political subdivisions	13,137		689		13,136		685
Total debt securities held to maturity	$	359,081	$	689	$	374,921	$	685

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Comprehensive Income

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Comprehensive Income

Comprehensive Income

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of other comprehensive income.

The components of other comprehensive income (loss) and related tax effects are as follows:

	Three months ended March 31,
(in thousands)	2020		2019
Unrealized holding gains (losses) on available for sale securities before reclassifications	$	(29,561)	$	12,710
Tax effect	8,739		(3,758)
Unrealized holding gains (losses) on available for sale securities, net of tax	(20,822)		8,952
Change in unfunded status of the supplemental retirement plans before reclassifications	448		(89)
Amounts reclassified out of accumulated other comprehensive income (loss):
Amortization of prior service cost	(14)		(13)
Amortization of actuarial losses	478		102
Total amounts reclassified out of accumulated other comprehensive income (loss)	464		89
Change in unfunded status of the supplemental retirement plans after reclassifications	912		—
Tax effect	—		—
Change in unfunded status of the supplemental retirement plans, net of tax	912		—
Total other comprehensive income (loss)	$	(19,910)	$	8,952

The components of accumulated other comprehensive income (loss), included in shareholders’ equity, are as follows:

(in thousands)	March 31, 2020		December 31, 2019
Net unrealized gain (loss) on available for sale securities	$	(26,174)	$	3,387
Tax effect	7,738		(1,001)
Unrealized holding gain (loss) on available for sale securities, net of tax	(18,436)		2,386
Unfunded status of the supplemental retirement plans	(11,193)		(11,193)
Tax effect	3,309		3,309
Unfunded status of the supplemental retirement plans, net of tax	(7,884)		(7,884)
Joint beneficiary agreement liability	1,188		276
Tax effect	—		—
Joint beneficiary agreement liability, net of tax	1,188		276
Accumulated other comprehensive income (loss)	$	(25,132)	$	(5,222)

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Deposits (Tables)

3 Months Ended

Mar. 31, 2020

Deposits [Abstract]

Summary of Balances of Deposits

A summary of the balances of deposits follows (in thousands):

	March 31, 2020		December 31, 2019
Noninterest-bearing demand	$	1,883,143	$	1,832,665
Interest-bearing demand	1,243,192		1,242,274
Savings	1,857,684		1,851,549
Time certificates, $250,000 or more	111,262		129,061
Other time certificates	307,417		311,445
Total deposits	$	5,402,698	$	5,366,994

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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Available-for-sale, allowance for credit loss	$ 0
Held-to-maturity, allowance for credit loss	$ 0
Preferred stock, no par value (in USD per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, no par value (in USD per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	29,973,516	30,523,824
Common stock, shares outstanding (in shares)	29,973,516	30,523,824

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Condensed Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Common Stock
Dividends paid, per share	$ 0.22	$ 0.19

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Comprehensive Income - Components of Other Comprehensive Income (Loss) and Related Tax Effects (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Unrealized holding gains (losses) on available for sale securities before reclassifications	$ (29,561)	$ 12,710
Tax effect	8,739	(3,758)
Unrealized holding gains (losses) on available for sale securities, net of tax	(20,822)	8,952
Change in unfunded status of the supplemental retirement plans before reclassifications	448	(89)
Amounts reclassified out of accumulated other comprehensive income (loss):
Amortization of prior service cost	(14)	(13)
Amortization of actuarial losses	478	102
Total amounts reclassified out of accumulated other comprehensive income (loss)	464	89
Change in unfunded status of the supplemental retirement plans after reclassifications	912	0
Tax effect	0	0
Change in unfunded status of the supplemental retirement plans, net of tax	912	0
Other comprehensive income (loss)	$ (19,910)	$ 8,952

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Stock Options and Other Equity-Based Incentive Instruments - Restricted Stock Unit (RSU) Activity (Detail)	3 Months Ended
	Mar. 31, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
RSUs released (in shares)	0
Restricted Stock Units (RSUs) | Service Condition Vesting RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at December 31, 2019 (in shares)	68,597
RSUs granted (in shares)	0
RSUs added through dividend and performance credits (in shares)	521
RSUs released (in shares)	(362)
RSUs forfeited/expired (in shares)	(80)
Outstanding at March 31, 2020 (in shares)	68,676
Restricted Stock Units (RSUs) | Market Plus Service Condition Vesting RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at December 31, 2019 (in shares)	51,312
RSUs granted (in shares)	0
RSUs added through dividend and performance credits (in shares)	0
RSUs released (in shares)	0
RSUs forfeited/expired (in shares)	78
Outstanding at March 31, 2020 (in shares)	51,234

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Allowance for Credit Losses - Troubled Debt Restructurings (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($) contract	Mar. 31, 2019 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	6	4
Pre-mod outstanding principal balance	$ 680	$ 299
Post-mod outstanding principal balance	738	297
Financial impact due to TDR taken as additional provision	$ 21	$ 1
Number that defaulted during the period | contract	1,000	1
Recorded investment of TDR's that defaulted during the period	$ 302	$ 7
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Mortgage Loans on Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	3	1
Pre-mod outstanding principal balance	$ 487	$ 163
Post-mod outstanding principal balance	549	162
Financial impact due to TDR taken as additional provision	$ 0	$ 0
Number that defaulted during the period | contract	1,000	0
Recorded investment of TDR's that defaulted during the period	$ 302	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	2	1
Pre-mod outstanding principal balance	$ 172	$ 121
Post-mod outstanding principal balance	169	120
Financial impact due to TDR taken as additional provision	$ 0	$ 1
Number that defaulted during the period | contract	0	0
Recorded investment of TDR's that defaulted during the period	$ 0	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	1	2
Pre-mod outstanding principal balance	$ 21	$ 15
Post-mod outstanding principal balance	20	15
Financial impact due to TDR taken as additional provision	$ 21	$ 0
Number that defaulted during the period | contract	0	1
Recorded investment of TDR's that defaulted during the period	$ 0	$ 7
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	0	0
Pre-mod outstanding principal balance	$ 0	$ 0
Post-mod outstanding principal balance	0	0
Financial impact due to TDR taken as additional provision	$ 0	$ 0
Number that defaulted during the period | contract	0	0
Recorded investment of TDR's that defaulted during the period	$ 0	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Residential 1-4 family | Mortgage Loans on Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	0	0
Pre-mod outstanding principal balance	$ 0	$ 163
Post-mod outstanding principal balance	0	162
Financial impact due to TDR taken as additional provision	$ 0	$ 0
Number that defaulted during the period | contract	1,000	0
Recorded investment of TDR's that defaulted during the period	$ 302	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Home equity loans | Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	2	1
Pre-mod outstanding principal balance	$ 172	$ 121
Post-mod outstanding principal balance	169	120
Financial impact due to TDR taken as additional provision	$ 0	$ 1
Number that defaulted during the period | contract	0	0
Recorded investment of TDR's that defaulted during the period	$ 0	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Other | Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	0	0
Pre-mod outstanding principal balance	$ 0	$ 0
Post-mod outstanding principal balance	0	0
Financial impact due to TDR taken as additional provision	$ 0	$ 0
Number that defaulted during the period | contract	0	0
Recorded investment of TDR's that defaulted during the period	$ 0	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Commercial | Mortgage Loans on Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	3	0
Pre-mod outstanding principal balance	$ 487	$ 0
Post-mod outstanding principal balance	549	0
Financial impact due to TDR taken as additional provision	$ 0	$ 0
Number that defaulted during the period | contract	0	0
Recorded investment of TDR's that defaulted during the period	$ 0	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Commercial | Construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	0	0
Pre-mod outstanding principal balance	$ 0	$ 0
Post-mod outstanding principal balance	0
Financial impact due to TDR taken as additional provision	$ 0	$ 0
Number that defaulted during the period | contract	0	0
Recorded investment of TDR's that defaulted during the period	$ 0	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Home equity lines of credit | Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	0	0
Pre-mod outstanding principal balance	$ 0	$ 0
Post-mod outstanding principal balance	0	0
Financial impact due to TDR taken as additional provision	$ 0	$ 0
Number that defaulted during the period | contract	0	0
Recorded investment of TDR's that defaulted during the period	$ 0	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0
Residential | Construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | contract	0	0
Pre-mod outstanding principal balance	$ 0	$ 0
Post-mod outstanding principal balance	0
Financial impact due to TDR taken as additional provision	$ 0	$ 0
Number that defaulted during the period | contract	0	0
Recorded investment of TDR's that defaulted during the period	$ 0	$ 0
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions	$ 0	$ 0

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Investment Securities - Amortized Cost of Debt Securities Held-to-Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized cost, held to maturity	$ 359,770	$ 375,606
AAA/AA/A
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized cost, held to maturity	359,081	374,921
BBB/BB/B
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized cost, held to maturity	689	685
Obligations of U.S. government agencies | AAA/AA/A
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized cost, held to maturity	345,944	361,785
Obligations of U.S. government agencies | BBB/BB/B
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized cost, held to maturity	0	0
Obligations of states and political subdivisions | AAA/AA/A
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized cost, held to maturity	13,137	13,136
Obligations of states and political subdivisions | BBB/BB/B
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized cost, held to maturity	$ 689	$ 685

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Allowance for Credit Losses - Analysis of Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Total	$ 4,379,062	$ 4,307,366
Commercial
Financing Receivable, Past Due [Line Items]
Total	290,334
Residential 1-4 family | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Total		509,508
Home equity loans | Consumer
Financing Receivable, Past Due [Line Items]
Total	27,110	28,586
Other | Consumer
Financing Receivable, Past Due [Line Items]
Total	82,427	82,656
Commercial | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Total	2,889,183	2,818,782
Commercial | Commercial
Financing Receivable, Past Due [Line Items]
Total		283,707
Commercial | Construction
Financing Receivable, Past Due [Line Items]
Total	199,381	203,681
Home equity lines of credit | Consumer
Financing Receivable, Past Due [Line Items]
Total	341,461	334,300
Residential | Construction
Financing Receivable, Past Due [Line Items]
Total	42,333	46,146
Residential | Residential 1-4 family | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Total	506,833
Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Past due	29,339	10,720
Current	4,349,723	4,296,646
Total	4,379,062	4,307,366
Financial Asset Originated | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	24,865	6,625
Current	3,371,151	3,321,665
Total	3,396,016	3,328,290
Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Past due	2,458	3,121
Current	448,540	442,421
Total	450,998	445,542
Financial Asset Originated | Commercial
Financing Receivable, Past Due [Line Items]
Past due	2,016	974
Current	288,318	282,733
Total	290,334	283,707
Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Current	241,714	249,827
Total	241,714	249,827
Financial Asset Originated | Residential 1-4 family | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	2,462	3,477
Current	504,371	506,031
Total	506,833	509,508
Financial Asset Originated | Home equity loans | Consumer
Financing Receivable, Past Due [Line Items]
Past due	457	523
Current	26,653	28,063
Total	27,110	28,586
Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Past due	226	196
Current	82,201	82,460
Total	82,427	82,656
Financial Asset Originated | Commercial | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	22,403	3,148
Current	2,866,780	2,815,634
Total	2,889,183	2,818,782
Financial Asset Originated | Commercial | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Current	199,381	203,681
Total	199,381	203,681
Financial Asset Originated | Home equity lines of credit | Consumer
Financing Receivable, Past Due [Line Items]
Past due	1,775	2,402
Current	339,686	331,898
Total	341,461	334,300
Financial Asset Originated | Residential | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Current	42,333	46,146
Total	42,333	46,146
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Past due	21,030	3,812
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	19,144	1,730
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Past due	872	1,430
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Commercial
Financing Receivable, Past Due [Line Items]
Past due	1,014	652
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Residential 1-4 family | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	699	1,149
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Home equity loans | Consumer
Financing Receivable, Past Due [Line Items]
Past due	200	175
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Past due	100	172
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Commercial | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	18,445	581
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Commercial | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Home equity lines of credit | Consumer
Financing Receivable, Past Due [Line Items]
Past due	572	1,083
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Residential | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Past due	2,376	1,385
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	1,283	507
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Past due	161	580
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Commercial
Financing Receivable, Past Due [Line Items]
Past due	932	298
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Residential 1-4 family | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	0	371
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Home equity loans | Consumer
Financing Receivable, Past Due [Line Items]
Past due	64	216
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Past due	12	1
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Commercial | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	1,283	136
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Commercial | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Home equity lines of credit | Consumer
Financing Receivable, Past Due [Line Items]
Past due	85	363
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Residential | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated
Financing Receivable, Past Due [Line Items]
Past due	5,933	5,523
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	4,438	4,388
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Consumer
Financing Receivable, Past Due [Line Items]
Past due	1,425	1,111
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Commercial
Financing Receivable, Past Due [Line Items]
Past due	70	24
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Residential 1-4 family | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	1,763	1,957
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Home equity loans | Consumer
Financing Receivable, Past Due [Line Items]
Past due	193	132
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Other | Consumer
Financing Receivable, Past Due [Line Items]
Past due	114	23
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Commercial | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Past due	2,675	2,431
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Commercial | Construction
Financing Receivable, Past Due [Line Items]
Past due	0	0
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Home equity lines of credit | Consumer
Financing Receivable, Past Due [Line Items]
Past due	1,118	956
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Residential | Construction
Financing Receivable, Past Due [Line Items]
Past due	$ 0	$ 0

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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of Bank's Commitments and Contingent Liabilities

The following table presents a summary of the Bank’s commitments and contingent liabilities:

(in thousands)	March 31, 2020		December 31, 2019
Financial instruments whose amounts represent risk:
Commitments to extend credit:
Commercial loans	$	360,793	$	363,793
Consumer loans	541,848		533,576
Real estate mortgage loans	189,921		188,959
Real estate construction loans	204,170		222,998
Standby letters of credit	12,084		12,014
Deposit account overdraft privilege	109,752		110,402

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Loans (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Summary of Loan Balances

A summary of loan balances follows:

(in thousands)	March 31, 2020		December 31, 2019
Mortgage loans on real estate:
Residential 1-4 family	$	506,833	$	509,508
Commercial	2,889,183		2,818,782
Total mortgage loans on real estate	3,396,016		3,328,290
Consumer:
Home equity lines of credit	341,461		334,300
Home equity loans	27,110		28,586
Other	82,427		82,656
Total consumer loans	450,998		445,542
Commercial	290,334		283,707
Construction:
Residential	42,333		46,146
Commercial	199,381		203,681
Total construction loans	241,714		249,827
Total loans, net of deferred loan fees and discounts	$	4,379,062	$	4,307,366
Total principal balance of loans owed, net of charge-offs	$	4,420,889	$	4,351,725
Unamortized net deferred loan fees	(8,794)		(8,927)
Discounts to principal balance of loans owed, net of charge-offs	(33,033)		(35,432)
Total loans, net of unamortized deferred loan fees and discounts	$	4,379,062	$	4,307,366
Allowance for loan losses	$	(57,911)	$	(30,616)

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Fair Value Measurement

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

Fair Value Measurement

The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, income approach, and/or the cost approach. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of nonperformance. Marketable equity securities, debt securities available-for-sale, loans held for sale, and mortgage servicing rights are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application impairment write-downs of individual assets.

The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observable nature of the assumptions used to determine fair value. These levels are:

Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets.

Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3 - Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

Marketable equity securities and debt securities available for sale - Marketable equity securities and debt securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. The Company had no securities classified as Level 3 during any of the periods covered in these financial statements.

Loans held for sale - Loans held for sale are carried at the lower of cost or fair value. The fair value of loans held for sale is based on what secondary markets are currently offering for loans with similar characteristics. As such, we classify those loans subjected to recurring fair value adjustments as Level 2.

Individually evaluated loans - Loans are not recorded at fair value on a recurring basis. However, from time to time, certain loans have individual risk characteristics not consistent with a pool of loans and is individually evaluated for credit reserves.

Loans for which it is probable that payment of interest and principal will not be made in accordance with the original contractual terms of the loan agreement are typically individually evaluated. The fair value of these loans are estimated using one of several methods, including collateral value, fair value of similar debt, enterprise value, liquidation value and discounted cash flows. Those loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. Loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the loan as nonrecurring Level 3.

Foreclosed assets - Foreclosed assets include assets acquired through, or in lieu of, loan foreclosure. Foreclosed assets are held for sale and are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, management periodically performs valuations and the assets are carried at the lower of carrying amount or fair value less cost to sell. When the fair value of foreclosed assets is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the foreclosed asset as nonrecurring Level 3. Revenue and expenses from operations and changes in the valuation allowance are included in other non-interest expense.

Mortgage servicing rights - Mortgage servicing rights are carried at fair value. A valuation model, which utilizes a discounted cash flow analysis using a discount rate and prepayment speed assumptions is used in the computation of the fair value measurement. While the prepayment speed assumption is currently quoted for comparable instruments, the discount rate assumption currently requires a significant degree of management judgment and is therefore considered an unobservable input. As such, the Company classifies mortgage servicing rights subjected to recurring fair value adjustments as Level 3.

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands):

Fair value at March 31, 2020	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	3,007	$	3,007	$	—	$	—
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	469,218		—		469,218		—
Obligations of states and political subdivisions	114,125		—		114,125		—
Corporate bonds	2,575		—		2,575		—
Asset backed securities	416,081		—		416,081		—
Loans held for sale	2,695		—		2,695		—
Mortgage servicing rights	5,168		—		—		5,168
Total assets measured at fair value	$	1,012,869	$	3,007	$	1,004,694	$	5,168

Fair value at December 31, 2019	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	2,960	$	2,960	$	—	$	—
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	472,980		—		472,980		—
Obligations of states and political subdivisions	109,601		—		109,601		—
Corporate bonds	2,532		—		2,532		—
Asset backed securities	365,025		—		365,025		—
Loans held for sale	5,265		—		5,265		—
Mortgage servicing rights	6,200		—		—		6,200
Total assets measured at fair value	$	964,563	$	2,960	$	955,403	$	6,200

Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally corresponds with the Company’s quarterly valuation process. There were no transfers between any levels during the three months ended March 31, 2020 or the year ended December 31, 2019.

The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands):

Three months ended March 31,	Beginning Balance		Transfers into (out of) Level 3	Change Included in Earnings		Issuances		Ending Balance
2020: Mortgage servicing rights	$	6,200	—	$	(1,258)	$	226	$	5,168
2019: Mortgage servicing rights	$	7,098	—	$	(645)	$	119	$	6,572

Three months ended March 31,

The key unobservable inputs used in determining the fair value of mortgage servicing rights are mortgage prepayment speeds and the discount rate used to discount cash projected cash flows. Generally, any significant increases in the mortgage prepayment speed and discount rate utilized in the fair value measurement of the mortgage servicing rights will result in a negative fair value adjustments (and decrease in the fair value measurement). Conversely, a decrease in the mortgage prepayment speed and discount rate will result in a positive fair value adjustment (and increase in the fair value measurement).

The following table presents quantitative information about recurring Level 3 fair value measurements at March 31, 2020 and December 31, 2019:

As of March 31, 2020:	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Mortgage Servicing Rights	$	5,168	Discounted cash flow	Constant prepayment rate	7% - 42%; 11%
				Discount rate	10% - 14%; 12%
As of December 31, 2019:
Mortgage Servicing Rights	$	6,200	Discounted cash flow	Constant prepayment rate	6% - 42.0%; 11.0%
				Discount rate	10% - 14%; 12%

The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated (in thousands):

March 31, 2020	Total		Level 1	Level 2	Level 3		Total Losses
Fair value:
Individually evaluated loans	$	105	—	—	$	105	$	(107)

December 31, 2019	Total		Level 1	Level 2	Level 3		Total Losses
Fair value:
Individually evaluated loans	$	1,055	—	—	$	1,055	$	(652)
Foreclosed assets	417		—	—	417		(27)
Total assets measured at fair value	$	1,472	—	—	$	1,472	$	(679)

March 31, 2019	Total		Level 1	Level 2	Level 3		Total Losses
Fair value:
Individually evaluated loans	$	212	—	—	$	212	$	(197)
Foreclosed assets	214		—	—	214		—
Total assets measured at fair value	$	426	—	—	$	426	$	(197)

The individually evaluated loan amounts above represent collateral dependent loans that have been adjusted to fair value. When the Company identifies a collateral dependent loan with unique risk characteristics, the Company evaluates the need for an allowance using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals. If the Company determines that the value of the loan is less than the recorded investment in the loan, the Company recognizes this impairment and adjust the carrying value of the

loan to fair value through the allowance for credit losses. The loss represents charge-offs or impairments on collateral dependent loans for fair value adjustments based on the fair value of collateral. The carrying value of loans fully charged-off is zero.

The foreclosed assets amount above represents impaired real estate that has been adjusted to fair value. Foreclosed assets represent real estate which the Company has taken control of in partial or full satisfaction of loans. At the time of foreclosure, other real estate owned is recorded at fair value less costs to sell, which becomes the property’s new basis. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for credit losses. After foreclosure, management periodically performs valuations such that the real estate is carried at the lower of its new cost basis or fair value, net of estimated costs to sell. Fair value adjustments on other real estate owned are recognized within net loss on real estate owned. The loss represents impairments on real estate owned for fair value adjustments based on the fair value of the real estate.

The Company’s property appraisals are primarily based on the sales comparison approach and income approach methodologies, which consider recent sales of comparable properties, including their income generating characteristics, and then make adjustments to reflect the general assumptions that a market participant would make when analyzing the property for purchase. These adjustments may increase or decrease an appraised value and can vary significantly depending on the location, physical characteristics and income producing potential of each property. Additionally, the quality and volume of market information available at the time of the appraisal can vary from period to period and cause significant changes to the nature and magnitude of comparable sale adjustments. Given these variations, comparable sale adjustments are generally not a reliable indicator for how fair value will increase or decrease from period to period. Under certain circumstances, management discounts are applied based on specific characteristics of an individual property.

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at March 31, 2020:

March 31, 2020	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	105	Sales comparison approach Income approach	Adjustment for differences between comparable sales Capitalization rate	Not meaningful N/A

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2019:

December 31, 2019	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	1,055	Sales comparison approach Income approach	Adjustment for differences between comparable sales Capitalization rate	Not meaningfulN/A
Foreclosed assets (Residential real estate)	$	417	Sales comparison approach	Adjustment for differences between comparable sales	Not meaningfulN/A

Fair values for financial instruments are management’s estimates of the values at which the instruments could be exchanged in a transaction between willing parties. The Company uses the exit price notion when measuring the fair value of financial instruments. These estimates are subjective and may vary significantly from amounts that would be realized in actual transactions. In addition, other significant assets are not considered financial assets including, any mortgage banking operations, deferred tax assets, and premises and equipment. Further, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on the fair value estimates and have not been considered in any of these estimates.

	March 31, 2020				December 31, 2019
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Level 1 inputs:
Cash and due from banks	$	95,364	$	95,364	$	92,816	$	92,816
Cash at Federal Reserve and other banks	90,102		90,102		183,691		183,691
Level 2 inputs:
Securities held to maturity	359,770		377,442		375,606		381,525
Restricted equity securities	17,250		N/A		17,250		N/A
Level 3 inputs:
Loans, net	4,321,151		4,307,323		4,276,750		4,263,064
Financial liabilities:
Level 2 inputs:
Deposits	5,402,698		5,401,617		5,366,994		5,365,921
Other borrowings	19,309		19,309		18,454		18,454
Level 3 inputs:
Junior subordinated debt	57,323		56,254		57,232		56,297

(in thousands)	Contract Amount		Fair Value		Contract Amount		Fair Value
Off-balance sheet:
Level 3 inputs:
Commitments	$	1,296,732	$	12,967	$	1,309,326	$	13,093
Standby letters of credit	12,084		121		12,014		120
Overdraft privilege commitments	109,752		1,098		110,402		1,104

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Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets:
Cash and due from banks	$ 95,364	$ 92,816
Cash at Federal Reserve and other banks	90,102	183,691
Cash and cash equivalents	185,466	276,507
Investment securities:
Marketable equity securities	3,007	2,960
Available for sale debt securities, net of allowance for credit losses of $—	1,001,999	950,138
Held to maturity debt securities, net of allowance for credit losses of $—	359,770	375,606
Restricted equity securities	17,250	17,250
Loans held for sale	2,695	5,265
Loans	4,379,062	4,307,366
Allowance for credit losses	(57,911)	(30,616)
Total loans, net	4,321,151	4,276,750
Premises and equipment, net	86,304	87,086
Cash value of life insurance	118,543	117,823
Accrued interest receivable	18,575	18,897
Goodwill	220,872	220,872
Other intangible assets, net	22,126	23,557
Operating leases, right-of-use	30,221	27,879
Other assets	86,330	70,591
Total assets	6,474,309	6,471,181
Deposits:
Noninterest-bearing demand	1,883,143	1,832,665
Interest-bearing	3,519,555	3,534,329
Total deposits	5,402,698	5,366,994
Accrued interest payable	1,986	2,407
Operating lease liability	30,007	27,540
Other liabilities	96,560	91,984
Other borrowings	19,309	18,454
Junior subordinated debt	57,323	57,232
Total liabilities	5,607,883	5,564,611
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock, no par value: 1,000,000 shares authorized, zero issued and outstanding at March 31, 2020 and December 31, 2019	0	0
Common stock, no par value: 50,000,000 shares authorized; 29,973,516 and 30,523,824 issued and outstanding at March 31, 2020 and December 31, 2019, respectively	534,623	543,998
Retained earnings	356,935	367,794
Accumulated other comprehensive income (loss), net of tax	(25,132)	(5,222)
Total shareholders’ equity	866,426	906,570
Total liabilities and shareholders’ equity	$ 6,474,309	$ 6,471,181

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Condensed Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2018	$ 827,373	$ 541,762	$ 303,490	$ (17,879)
Beginning balance (in shares) at Dec. 31, 2018		30,417,223
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,726		22,726
Other comprehensive income (loss)	8,952			8,952
Stock options exercised	647	$ 647
Stock options exercised (in shares)		41,000
RSU vesting	278	$ 278
PSU vesting	119	$ 119
RSUs released	0
RSUs released (in shares)		355
PSUs released	0
PSUs released (in shares)		0
Repurchase of common stock	(1,035)	$ (466)	(569)
Repurchase of common stock (in shares)		(26,159)
Dividends paid	(5,782)		(5,782)
Ending balance at Mar. 31, 2019	853,278	$ 542,340	319,865	(8,927)
Ending balance (in shares) at Mar. 31, 2019		30,432,419
Beginning balance at Dec. 31, 2019	$ 906,570	$ 543,998	367,794	(5,222)
Beginning balance (in shares) at Dec. 31, 2019	30,523,824	30,523,824
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 16,121		16,121
Other comprehensive income (loss)	(19,910)			(19,910)
Stock options exercised	$ 148	$ 148
Stock options exercised (in shares)	8,000	8,000
RSU vesting	$ 297	$ 297
PSU vesting	142	$ 142
RSUs released	0
RSUs released (in shares)		362
PSUs released	0
PSUs released (in shares)		0
Repurchase of common stock	(17,295)	$ (9,962)	(7,333)
Repurchase of common stock (in shares)		(558,670)
Dividends paid	(6,664)		(6,664)
Ending balance at Mar. 31, 2020	$ 866,426	$ 534,623	$ 356,935	$ (25,132)
Ending balance (in shares) at Mar. 31, 2020	29,973,516	29,973,516

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Comprehensive Income - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax	$ (25,132)	$ (5,222)
Net Unrealized Loss on Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, before tax	(26,174)	3,387
Accumulated other comprehensive loss, tax effect	7,738	(1,001)
Accumulated other comprehensive income (loss), net of tax	(18,436)	2,386
Unfunded Status of Supplemental Retirement Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, before tax	(11,193)	(11,193)
Accumulated other comprehensive loss, tax effect	3,309	3,309
Accumulated other comprehensive income (loss), net of tax	(7,884)	(7,884)
Joint Beneficiary Agreement Liability
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, before tax	1,188	276
Accumulated other comprehensive loss, tax effect	0	0
Accumulated other comprehensive income (loss), net of tax	$ 1,188	$ 276

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Non-interest Income and Expense - Components of Non-Interest Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	$ 9,126	$ 9,070
Increase in cash value of life insurance	720	775
Asset management and commission income	916	642
Gain on sale of loans	891	412
Lease brokerage income	193	220
Sale of customer checks	124	140
Gain on sale of investment securities	0	0
Gain on marketable equity securities	47	36
Other	(197)	508
Total other non-interest income	2,694	2,733
Total non-interest income	11,820	11,803
ATM and Interchange Fees
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	5,111	4,581
Service Charges on Deposit Accounts
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	4,046	3,880
Other Service Fees
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	758	771
Mortgage Banking Service Fees
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	469	483
Change in Value of Mortgage Servicing Rights
Schedule Of Other Noninterest Income And Expense [Line Items]
Total service charges and fees	$ (1,258)	$ (645)

XML

Investment Securities - Gross Unrealized Losses on Debt Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available for Sale, Less than 12 Months, Fair Value		$ 274,950
Debt Securities, Available for Sale, Less than 12 more, Unrealized Loss		(4,845)
Debt Securities, Available for Sale, 12 Months or more, Fair Value		123,833
Debt Securities, Available for Sale, 12 Months or more, Unrealized Loss		(2,489)
Debt Securities, Available for Sale, Fair Value		398,783
Debt Securities, Available-for-sale, Unrealized Loss		(7,334)
Debt Securities Held to Maturity, Less than 12 months, Fair Value		18,813
Debt Securities Held to Maturity, Less than 12 months, Unrealized Loss		(142)
Debt Securities Held to Maturity, 12 months or more, Fair Value		62,952
Debt Securities Held to Maturity, 12 months or more, Unrealized Loss		(338)
Debt Securities Held to Maturity, Fair Value		81,765
Debt Securities Held to Maturity, Unrealized Loss		(480)
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available for Sale, Less than 12 Months, Fair Value	$ 166,612	237,463
Debt Securities, Available for Sale, Less than 12 more, Unrealized Loss	(13,000)	(4,535)
Debt Securities, Available for Sale, 12 Months or more, Fair Value	248,222	99,981
Debt Securities, Available for Sale, 12 Months or more, Unrealized Loss	(38,363)	(2,378)
Debt Securities, Available for Sale, Fair Value	414,834	337,444
Debt Securities, Available-for-sale, Unrealized Loss	(51,363)	(6,913)
Obligations of U.S. government agencies
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available for Sale, Less than 12 Months, Fair Value		36,709
Debt Securities, Available for Sale, Less than 12 more, Unrealized Loss		(309)
Debt Securities, Available for Sale, 12 Months or more, Fair Value		23,852
Debt Securities, Available for Sale, 12 Months or more, Unrealized Loss		(111)
Debt Securities, Available for Sale, Fair Value		60,561
Debt Securities, Available-for-sale, Unrealized Loss		(420)
Debt Securities Held to Maturity, Less than 12 months, Fair Value	707	18,813
Debt Securities Held to Maturity, Less than 12 months, Unrealized Loss	(4)	(142)
Debt Securities Held to Maturity, 12 months or more, Fair Value	0	62,952
Debt Securities Held to Maturity, 12 months or more, Unrealized Loss	0	(338)
Debt Securities Held to Maturity, Fair Value	707	81,765
Debt Securities Held to Maturity, Unrealized Loss	$ (4)	(480)
Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available for Sale, Less than 12 Months, Fair Value		778
Debt Securities, Available for Sale, Less than 12 more, Unrealized Loss		(1)
Debt Securities, Available for Sale, 12 Months or more, Fair Value		0
Debt Securities, Available for Sale, 12 Months or more, Unrealized Loss		0
Debt Securities, Available for Sale, Fair Value		778
Debt Securities, Available-for-sale, Unrealized Loss		$ (1)

XML

Allowance for Credit Losses - Schedule Credit Quality Indicators (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	$ 150,591	$ 733,794
Fiscal Year before Latest Fiscal Year	730,766	589,023
Two Years before Latest Fiscal Year	581,856	618,788
Three Years before Latest Fiscal Year	602,117	535,175
Four Years before Latest Fiscal Year	521,446
Prior	1,239,712
Prior		1,298,566
Revolving Loans Amortized Cost Basis	542,755	525,933
Revolving Loans Converted to Term	9,819	6,087
Total	4,379,062	4,307,366
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	15,616
Fiscal Year before Latest Fiscal Year	66,298
Two Years before Latest Fiscal Year	32,666
Three Years before Latest Fiscal Year	27,001
Four Years before Latest Fiscal Year	11,452
Prior	17,745
Revolving Loans Amortized Cost Basis	113,518
Revolving Loans Converted to Term	6,038
Total	290,334
Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		102,613
Fiscal Year before Latest Fiscal Year		64,355
Two Years before Latest Fiscal Year		75,314
Three Years before Latest Fiscal Year		65,121
Prior		202,105
Revolving Loans Amortized Cost Basis		0
Revolving Loans Converted to Term		0
Total		509,508
Home equity loans | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	155	607
Fiscal Year before Latest Fiscal Year	580	320
Two Years before Latest Fiscal Year	309	382
Three Years before Latest Fiscal Year	378	868
Four Years before Latest Fiscal Year	818
Prior	24,354
Prior		25,973
Revolving Loans Amortized Cost Basis	500	399
Revolving Loans Converted to Term	16	37
Total	27,110	28,586
Other | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	7,679	45,791
Fiscal Year before Latest Fiscal Year	40,566	23,196
Two Years before Latest Fiscal Year	20,635	7,365
Three Years before Latest Fiscal Year	6,374	2,298
Four Years before Latest Fiscal Year	1,938
Prior	1,980
Prior		2,316
Revolving Loans Amortized Cost Basis	1,846	1,684
Revolving Loans Converted to Term	1,409	6
Total	82,427	82,656
Residential | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	1,725	18,516
Fiscal Year before Latest Fiscal Year	15,703	12,990
Two Years before Latest Fiscal Year	17,067	0
Three Years before Latest Fiscal Year	0	7,521
Four Years before Latest Fiscal Year	7,838
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	6,230
Revolving Loans Converted to Term	0	889
Total	42,333	46,146
Residential | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	25,698
Fiscal Year before Latest Fiscal Year	102,369
Two Years before Latest Fiscal Year	59,852
Three Years before Latest Fiscal Year	71,368
Four Years before Latest Fiscal Year	60,132
Prior	187,192
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	222
Total	506,833
Commercial | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	82,698	447,427
Fiscal Year before Latest Fiscal Year	461,144	374,519
Two Years before Latest Fiscal Year	365,527	428,457
Three Years before Latest Fiscal Year	452,252	428,157
Four Years before Latest Fiscal Year	421,764
Prior	988,107
Prior		1,028,461
Revolving Loans Amortized Cost Basis	116,190	111,013
Revolving Loans Converted to Term	1,501	748
Total	2,889,183	2,818,782
Commercial | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		77,614
Fiscal Year before Latest Fiscal Year		37,798
Two Years before Latest Fiscal Year		29,912
Three Years before Latest Fiscal Year		13,719
Prior		18,363
Revolving Loans Amortized Cost Basis		102,630
Revolving Loans Converted to Term		3,671
Total		283,707
Commercial | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	14,081	31,031
Fiscal Year before Latest Fiscal Year	35,515	72,339
Two Years before Latest Fiscal Year	82,740	76,043
Three Years before Latest Fiscal Year	43,455	15,654
Four Years before Latest Fiscal Year	15,793
Prior	7,797
Prior		7,639
Revolving Loans Amortized Cost Basis	0	975
Revolving Loans Converted to Term	0	0
Total	199,381	203,681
Home equity lines of credit | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	2,939	10,195
Fiscal Year before Latest Fiscal Year	8,591	3,506
Two Years before Latest Fiscal Year	3,060	1,315
Three Years before Latest Fiscal Year	1,289	1,837
Four Years before Latest Fiscal Year	1,711
Prior	12,537
Prior		13,709
Revolving Loans Amortized Cost Basis	310,701	303,002
Revolving Loans Converted to Term	633	736
Total	341,461	334,300
Pass
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	150,088	732,848
Fiscal Year before Latest Fiscal Year	726,819	586,097
Two Years before Latest Fiscal Year	579,098	606,907
Three Years before Latest Fiscal Year	588,552	516,183
Four Years before Latest Fiscal Year	500,484
Prior	1,203,981
Prior		1,265,974
Revolving Loans Amortized Cost Basis	522,177	514,727
Revolving Loans Converted to Term	8,832	5,963
Total	4,280,031	4,228,699
Pass | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	15,616
Fiscal Year before Latest Fiscal Year	66,145
Two Years before Latest Fiscal Year	32,209
Three Years before Latest Fiscal Year	25,226
Four Years before Latest Fiscal Year	10,041
Prior	17,434
Revolving Loans Amortized Cost Basis	112,189
Revolving Loans Converted to Term	5,164
Total	284,024
Pass | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		102,613
Fiscal Year before Latest Fiscal Year		63,542
Two Years before Latest Fiscal Year		73,195
Three Years before Latest Fiscal Year		65,050
Prior		194,214
Revolving Loans Amortized Cost Basis		0
Revolving Loans Converted to Term		0
Total		498,614
Pass | Home equity loans | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	2	607
Fiscal Year before Latest Fiscal Year	580	300
Two Years before Latest Fiscal Year	290	382
Three Years before Latest Fiscal Year	378	712
Four Years before Latest Fiscal Year	673
Prior	21,191
Prior		22,655
Revolving Loans Amortized Cost Basis	500	399
Revolving Loans Converted to Term	16	37
Total	23,630	25,092
Pass | Other | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	7,679	45,675
Fiscal Year before Latest Fiscal Year	40,454	23,014
Two Years before Latest Fiscal Year	20,465	7,176
Three Years before Latest Fiscal Year	6,221	2,245
Four Years before Latest Fiscal Year	1,883
Prior	1,787
Prior		2,099
Revolving Loans Amortized Cost Basis	1,747	1,602
Revolving Loans Converted to Term	1,407	3
Total	81,643	81,814
Pass | Residential | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	1,725	18,516
Fiscal Year before Latest Fiscal Year	15,703	12,990
Two Years before Latest Fiscal Year	17,067	0
Three Years before Latest Fiscal Year	0	3,319
Four Years before Latest Fiscal Year	3,459
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	6,230
Revolving Loans Converted to Term	0	889
Total	37,954	41,944
Pass | Residential | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	25,698
Fiscal Year before Latest Fiscal Year	102,369
Two Years before Latest Fiscal Year	59,278
Three Years before Latest Fiscal Year	69,504
Four Years before Latest Fiscal Year	60,063
Prior	179,461
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	117
Total	496,490
Pass | Commercial | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	82,428	446,597
Fiscal Year before Latest Fiscal Year	457,462	373,065
Two Years before Latest Fiscal Year	364,082	421,901
Three Years before Latest Fiscal Year	443,054	415,568
Four Years before Latest Fiscal Year	407,011
Prior	967,584
Prior		1,010,057
Revolving Loans Amortized Cost Basis	102,830	107,965
Revolving Loans Converted to Term	1,501	748
Total	2,825,952	2,775,901
Pass | Commercial | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		77,614
Fiscal Year before Latest Fiscal Year		37,411
Two Years before Latest Fiscal Year		27,195
Three Years before Latest Fiscal Year		11,906
Prior		17,806
Revolving Loans Amortized Cost Basis		100,098
Revolving Loans Converted to Term		3,623
Total		275,653
Pass | Commercial | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	14,081	31,031
Fiscal Year before Latest Fiscal Year	35,515	72,339
Two Years before Latest Fiscal Year	82,740	76,043
Three Years before Latest Fiscal Year	43,455	15,654
Four Years before Latest Fiscal Year	15,793
Prior	5,709
Prior		7,322
Revolving Loans Amortized Cost Basis	0	975
Revolving Loans Converted to Term	0	0
Total	197,293	203,364
Pass | Home equity lines of credit | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	2,859	10,195
Fiscal Year before Latest Fiscal Year	8,591	3,436
Two Years before Latest Fiscal Year	2,967	1,015
Three Years before Latest Fiscal Year	714	1,729
Four Years before Latest Fiscal Year	1,561
Prior	10,815
Prior		11,821
Revolving Loans Amortized Cost Basis	304,911	297,458
Revolving Loans Converted to Term	627	663
Total	333,045	326,317
Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	150	56
Fiscal Year before Latest Fiscal Year	2,341	552
Two Years before Latest Fiscal Year	300	7,832
Three Years before Latest Fiscal Year	9,212	13,844
Four Years before Latest Fiscal Year	16,222
Prior	17,338
Prior		14,244
Revolving Loans Amortized Cost Basis	16,799	7,653
Revolving Loans Converted to Term	807	37
Total	63,169	44,218
Special Mention | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0
Fiscal Year before Latest Fiscal Year	0
Two Years before Latest Fiscal Year	75
Three Years before Latest Fiscal Year	539
Four Years before Latest Fiscal Year	149
Prior	110
Revolving Loans Amortized Cost Basis	604
Revolving Loans Converted to Term	700
Total	2,177
Special Mention | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		0
Fiscal Year before Latest Fiscal Year		0
Two Years before Latest Fiscal Year		1,408
Three Years before Latest Fiscal Year		19
Prior		3,287
Revolving Loans Amortized Cost Basis		0
Revolving Loans Converted to Term		0
Total		4,714
Special Mention | Home equity loans | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	20
Two Years before Latest Fiscal Year	19	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	906
Prior		1,172
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	925	1,192
Special Mention | Other | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	56
Fiscal Year before Latest Fiscal Year	53	182
Two Years before Latest Fiscal Year	170	176
Three Years before Latest Fiscal Year	141	52
Four Years before Latest Fiscal Year	44
Prior	158
Prior		172
Revolving Loans Amortized Cost Basis	83	81
Revolving Loans Converted to Term	2	0
Total	651	719
Special Mention | Residential | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	4,202
Four Years before Latest Fiscal Year	4,379
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	4,379	4,202
Special Mention | Residential | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0
Fiscal Year before Latest Fiscal Year	0
Two Years before Latest Fiscal Year	0
Three Years before Latest Fiscal Year	868
Four Years before Latest Fiscal Year	18
Prior	2,953
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	105
Total	3,944
Special Mention | Commercial | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	70	0
Fiscal Year before Latest Fiscal Year	2,288	0
Two Years before Latest Fiscal Year	0	4,965
Three Years before Latest Fiscal Year	7,618	9,373
Four Years before Latest Fiscal Year	11,562
Prior	10,722
Prior		8,467
Revolving Loans Amortized Cost Basis	12,588	2,253
Revolving Loans Converted to Term	0	0
Total	44,848	25,058
Special Mention | Commercial | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		0
Fiscal Year before Latest Fiscal Year		339
Two Years before Latest Fiscal Year		1,236
Three Years before Latest Fiscal Year		167
Prior		164
Revolving Loans Amortized Cost Basis		1,921
Revolving Loans Converted to Term		0
Total		3,827
Special Mention | Commercial | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	1,845
Prior		317
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	1,845	317
Special Mention | Home equity lines of credit | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	80	0
Fiscal Year before Latest Fiscal Year	0	11
Two Years before Latest Fiscal Year	36	47
Three Years before Latest Fiscal Year	46	31
Four Years before Latest Fiscal Year	70
Prior	644
Prior		665
Revolving Loans Amortized Cost Basis	3,524	3,398
Revolving Loans Converted to Term	0	37
Total	4,400	4,189
Substandard
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	353	890
Fiscal Year before Latest Fiscal Year	1,606	2,374
Two Years before Latest Fiscal Year	2,458	4,049
Three Years before Latest Fiscal Year	4,353	5,148
Four Years before Latest Fiscal Year	4,740
Prior	18,393
Prior		18,348
Revolving Loans Amortized Cost Basis	3,779	3,553
Revolving Loans Converted to Term	180	87
Total	35,862	34,449
Substandard | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0
Fiscal Year before Latest Fiscal Year	153
Two Years before Latest Fiscal Year	382
Three Years before Latest Fiscal Year	1,236
Four Years before Latest Fiscal Year	1,262
Prior	201
Revolving Loans Amortized Cost Basis	725
Revolving Loans Converted to Term	174
Total	4,133
Substandard | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		0
Fiscal Year before Latest Fiscal Year		813
Two Years before Latest Fiscal Year		711
Three Years before Latest Fiscal Year		52
Prior		4,604
Revolving Loans Amortized Cost Basis		0
Revolving Loans Converted to Term		0
Total		6,180
Substandard | Home equity loans | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	153	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	156
Four Years before Latest Fiscal Year	145
Prior	2,257
Prior		2,146
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	2,555	2,302
Substandard | Other | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	60
Fiscal Year before Latest Fiscal Year	59	0
Two Years before Latest Fiscal Year	0	13
Three Years before Latest Fiscal Year	12	1
Four Years before Latest Fiscal Year	11
Prior	35
Prior		45
Revolving Loans Amortized Cost Basis	16	1
Revolving Loans Converted to Term	0	3
Total	133	123
Substandard | Residential | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Substandard | Residential | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0
Fiscal Year before Latest Fiscal Year	0
Two Years before Latest Fiscal Year	574
Three Years before Latest Fiscal Year	996
Four Years before Latest Fiscal Year	51
Prior	4,778
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	6,399
Substandard | Commercial | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	200	830
Fiscal Year before Latest Fiscal Year	1,394	1,454
Two Years before Latest Fiscal Year	1,445	1,591
Three Years before Latest Fiscal Year	1,580	3,216
Four Years before Latest Fiscal Year	3,191
Prior	9,801
Prior		9,937
Revolving Loans Amortized Cost Basis	772	795
Revolving Loans Converted to Term	0	0
Total	18,383	17,823
Substandard | Commercial | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		0
Fiscal Year before Latest Fiscal Year		48
Two Years before Latest Fiscal Year		1,481
Three Years before Latest Fiscal Year		1,646
Prior		393
Revolving Loans Amortized Cost Basis		611
Revolving Loans Converted to Term		48
Total		4,227
Substandard | Commercial | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	243
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	243	0
Substandard | Home equity lines of credit | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	59
Two Years before Latest Fiscal Year	57	253
Three Years before Latest Fiscal Year	529	77
Four Years before Latest Fiscal Year	80
Prior	1,078
Prior		1,223
Revolving Loans Amortized Cost Basis	2,266	2,146
Revolving Loans Converted to Term	6	36
Total	4,016	3,794
Doubtful/Loss
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0
Fiscal Year before Latest Fiscal Year	0
Two Years before Latest Fiscal Year	0
Three Years before Latest Fiscal Year	0
Four Years before Latest Fiscal Year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
Doubtful/Loss | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		0
Fiscal Year before Latest Fiscal Year		0
Two Years before Latest Fiscal Year		0
Three Years before Latest Fiscal Year		0
Prior		0
Revolving Loans Amortized Cost Basis		0
Revolving Loans Converted to Term		0
Total		0
Doubtful/Loss | Home equity loans | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Other | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Residential | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Residential | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0
Fiscal Year before Latest Fiscal Year	0
Two Years before Latest Fiscal Year	0
Three Years before Latest Fiscal Year	0
Four Years before Latest Fiscal Year	0
Prior	0
Revolving Loans Amortized Cost Basis	0
Revolving Loans Converted to Term	0
Total	0
Doubtful/Loss | Commercial | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Commercial | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year		0
Fiscal Year before Latest Fiscal Year		0
Two Years before Latest Fiscal Year		0
Three Years before Latest Fiscal Year		0
Prior		0
Revolving Loans Amortized Cost Basis		0
Revolving Loans Converted to Term		0
Total		0
Doubtful/Loss | Commercial | Construction
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	0	0
Doubtful/Loss | Home equity lines of credit | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Current Fiscal Year	0	0
Fiscal Year before Latest Fiscal Year	0	0
Two Years before Latest Fiscal Year	0	0
Three Years before Latest Fiscal Year	0	0
Four Years before Latest Fiscal Year	0
Prior	0
Prior		0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term	0	0
Total	$ 0	$ 0

XML

Allowance for Credit Losses - Amortized Cost Basis of Collateral Dependent Loans, By Class of Loan (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 4,379,062	$ 4,307,366
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,483	2,506
Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	161	163
Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,866	1,640
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	506	509
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,060	2,060
Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,359	1,242
SFR -1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,862	5,341
SFR -2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,042	3,848
Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	127	27
A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,824	1,952
Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,012	1,026
Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	120	111
Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	21,422	20,425
Mortgage Loans on Real Estate | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,483	2,506
Mortgage Loans on Real Estate | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	161	163
Mortgage Loans on Real Estate | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,866	1,640
Mortgage Loans on Real Estate | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	506	509
Mortgage Loans on Real Estate | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,060	2,060
Mortgage Loans on Real Estate | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,203	1,242
Mortgage Loans on Real Estate | SFR -1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,815	5,293
Mortgage Loans on Real Estate | SFR -2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Mortgage Loans on Real Estate | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Mortgage Loans on Real Estate | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Mortgage Loans on Real Estate | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Mortgage Loans on Real Estate | Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Mortgage Loans on Real Estate | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	14,094	13,413
Consumer | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	156	0
Consumer | SFR -1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	47	48
Consumer | SFR -2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,042	3,848
Consumer | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	127	27
Consumer | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Consumer | Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4	4
Consumer | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,376	3,927
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	290,334
Commercial | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | SFR -1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | SFR -2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,824	1,952
Commercial | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,012	1,026
Commercial | Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	116	107
Commercial | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,952	3,085
Residential 1-4 family | Mortgage Loans on Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		509,508
Residential 1-4 family | Mortgage Loans on Real Estate | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | SFR -1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,815	5,293
Residential 1-4 family | Mortgage Loans on Real Estate | SFR -2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Residential 1-4 family | Mortgage Loans on Real Estate | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,815	5,293
Home equity loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	27,110	28,586
Home equity loans | Consumer | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | SFR -1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | SFR -2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,106	2,040
Home equity loans | Consumer | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity loans | Consumer | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,106	2,040
Other | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	82,427	82,656
Other | Consumer | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	156	0
Other | Consumer | SFR -1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	47	48
Other | Consumer | SFR -2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	127	27
Other | Consumer | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Other | Consumer | Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4	4
Other | Consumer | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	334	79
Commercial | Mortgage Loans on Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,889,183	2,818,782
Commercial | Mortgage Loans on Real Estate | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,483	2,506
Commercial | Mortgage Loans on Real Estate | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	161	163
Commercial | Mortgage Loans on Real Estate | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,866	1,640
Commercial | Mortgage Loans on Real Estate | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	506	509
Commercial | Mortgage Loans on Real Estate | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,060	2,060
Commercial | Mortgage Loans on Real Estate | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,203	1,242
Commercial | Mortgage Loans on Real Estate | SFR -1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Mortgage Loans on Real Estate | SFR -2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Mortgage Loans on Real Estate | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Mortgage Loans on Real Estate | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Mortgage Loans on Real Estate | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Mortgage Loans on Real Estate | Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial | Mortgage Loans on Real Estate | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	8,279	8,120
Commercial | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		283,707
Home equity lines of credit | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	341,461	334,300
Home equity lines of credit | Consumer | Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | Office
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | Warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | SFR -1st Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | SFR -2nd Deed
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,936	1,808
Home equity lines of credit | Consumer | Automobile/Truck
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | A/R and Inventory
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Home equity lines of credit | Consumer | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 1,936	$ 1,808

XML

Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Foreclosed assets (Residential real estate)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			$ 417
Individually evaluated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 105		1,055
Fair Value Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		$ 426	1,472
Total Gains/(Losses)		(197)	(679)
Fair Value Nonrecurring Basis | Foreclosed assets (Residential real estate)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			417
Total Gains/(Losses)			(27)
Fair Value Nonrecurring Basis | Individually evaluated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	105	212	1,055
Total Gains/(Losses)	(107)	(197)	(652)
Fair Value Nonrecurring Basis | Foreclosed Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		214
Total Gains/(Losses)		0
Fair Value Nonrecurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0	0
Fair Value Nonrecurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		0	0
Fair Value Nonrecurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		426	1,472
Fair Value Nonrecurring Basis | Level 3 | Foreclosed assets (Residential real estate)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value			417
Fair Value Nonrecurring Basis | Level 3 | Individually evaluated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 105	212	$ 1,055
Fair Value Nonrecurring Basis | Level 3 | Foreclosed Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value		$ 214

XML

Stock Options and Other Equity-Based Incentive Instruments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Apr. 16, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Weighted-average remaining contractual term (in years)	1 year 1 month 6 days
Number of units released	0
Number of units increased	76,851
Restricted Stock Units (RSUs) | Service Condition Vesting RSUs
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of units outstanding expected to vest (in shares)	68,676	68,597
Pre-tax compensation costs	$ 1,537,782
Number of units released	362
Restricted Stock Units (RSUs) | Market Plus Service Condition Vesting RSUs
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of units outstanding expected to vest (in shares)	51,234	51,312
Weighted-average remaining contractual term (in years)	1 year 4 months 24 days
Pre-tax compensation costs	$ 759,307
Number of units released	0
2019 Plan
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate number of shares of TriCo's common stock issued (in shares)			1,500,000

XML

Deposits - Summary of Balances of Deposits (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deposits [Abstract]
Noninterest-bearing demand	$ 1,883,143	$ 1,832,665
Interest-bearing demand	1,243,192	1,242,274
Savings	1,857,684	1,851,549
Time certificates, $250,000 or more	111,262	129,061
Other time certificates	307,417	311,445
Total deposits	$ 5,402,698	$ 5,366,994

XML

Leases - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020 renewalOption
Leases [Abstract]
Number of lease renewal options (in renewal options)	1

XML

Stock Options and Other Equity-Based Incentive Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock Option Activity

Stock option activity during the three months ended March 31, 2020 is summarized in the following table:

	Number of Shares	Option Price per Share	Weighted Average Exercise Price
Outstanding at December 31, 2019	160,500	$14.54 to $23.21	$	17.60
Options granted	—	—	—
Options exercised	(8,000)	$17.54 to $19.46	18.50
Options forfeited	—	—	—
Outstanding at March 31, 2020	152,500	$14.54 to $23.21	$	17.55

Summary of Options Outstanding

The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of March 31, 2020:

	Currently Exercisable		Currently Not Exercisable		Total Outstanding
Number of options	152,500		—		152,500
Weighted average exercise price	$	17.55	$	—	$	17.55
Intrinsic value (in thousands)	$	1,871	$	—	$	1,871
Weighted average remaining contractual term (yrs.)	2.6		0		2.6

Restricted Stock Unit (RSU) Activity

Activity related to restricted stock unit awards during the three months ended March 31, 2020 is summarized in the following table:

	Service Condition Vesting RSUs	Market Plus Service Condition Vesting RSUs
Outstanding at December 31, 2019	68,597	51,312
RSUs granted	—	—
RSUs added through dividend and performance credits	521	—
RSUs released	(362)	—
RSUs forfeited/expired	(80)	(78)
Outstanding at March 31, 2020	68,676	51,234

XML

Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands):

Fair value at March 31, 2020	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	3,007	$	3,007	$	—	$	—
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	469,218		—		469,218		—
Obligations of states and political subdivisions	114,125		—		114,125		—
Corporate bonds	2,575		—		2,575		—
Asset backed securities	416,081		—		416,081		—
Loans held for sale	2,695		—		2,695		—
Mortgage servicing rights	5,168		—		—		5,168
Total assets measured at fair value	$	1,012,869	$	3,007	$	1,004,694	$	5,168

Fair value at December 31, 2019	Total		Level 1		Level 2		Level 3
Marketable equity securities	$	2,960	$	2,960	$	—	$	—
Debt securities available for sale:
Obligations of U.S. government corporations and agencies	472,980		—		472,980		—
Obligations of states and political subdivisions	109,601		—		109,601		—
Corporate bonds	2,532		—		2,532		—
Asset backed securities	365,025		—		365,025		—
Loans held for sale	5,265		—		5,265		—
Mortgage servicing rights	6,200		—		—		6,200
Total assets measured at fair value	$	964,563	$	2,960	$	955,403	$	6,200

Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis

The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands):

Three months ended March 31,	Beginning Balance		Transfers into (out of) Level 3	Change Included in Earnings		Issuances		Ending Balance
2020: Mortgage servicing rights	$	6,200	—	$	(1,258)	$	226	$	5,168
2019: Mortgage servicing rights	$	7,098	—	$	(645)	$	119	$	6,572

Three months ended March 31,

Quantitative Information about Recurring Level 3 Fair Value Measurements

The following table presents quantitative information about recurring Level 3 fair value measurements at March 31, 2020 and December 31, 2019:

As of March 31, 2020:	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Mortgage Servicing Rights	$	5,168	Discounted cash flow	Constant prepayment rate	7% - 42%; 11%
				Discount rate	10% - 14%; 12%
As of December 31, 2019:
Mortgage Servicing Rights	$	6,200	Discounted cash flow	Constant prepayment rate	6% - 42.0%; 11.0%
				Discount rate	10% - 14%; 12%

Assets and Liabilities Measured at Fair Value on Nonrecurring Basis

The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated (in thousands):

March 31, 2020	Total		Level 1	Level 2	Level 3		Total Losses
Fair value:
Individually evaluated loans	$	105	—	—	$	105	$	(107)

December 31, 2019	Total		Level 1	Level 2	Level 3		Total Losses
Fair value:
Individually evaluated loans	$	1,055	—	—	$	1,055	$	(652)
Foreclosed assets	417		—	—	417		(27)
Total assets measured at fair value	$	1,472	—	—	$	1,472	$	(679)

March 31, 2019	Total		Level 1	Level 2	Level 3		Total Losses
Fair value:
Individually evaluated loans	$	212	—	—	$	212	$	(197)
Foreclosed assets	214		—	—	214		—
Total assets measured at fair value	$	426	—	—	$	426	$	(197)

Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at March 31, 2020:

March 31, 2020	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	105	Sales comparison approach Income approach	Adjustment for differences between comparable sales Capitalization rate	Not meaningful N/A

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2019:

December 31, 2019	Fair Value (in thousands)		Valuation Technique	Unobservable Inputs	Range, Weighted Average
Individually evaluated loans	$	1,055	Sales comparison approach Income approach	Adjustment for differences between comparable sales Capitalization rate	Not meaningfulN/A
Foreclosed assets (Residential real estate)	$	417	Sales comparison approach	Adjustment for differences between comparable sales	Not meaningfulN/A

Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets

	March 31, 2020				December 31, 2019
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Level 1 inputs:
Cash and due from banks	$	95,364	$	95,364	$	92,816	$	92,816
Cash at Federal Reserve and other banks	90,102		90,102		183,691		183,691
Level 2 inputs:
Securities held to maturity	359,770		377,442		375,606		381,525
Restricted equity securities	17,250		N/A		17,250		N/A
Level 3 inputs:
Loans, net	4,321,151		4,307,323		4,276,750		4,263,064
Financial liabilities:
Level 2 inputs:
Deposits	5,402,698		5,401,617		5,366,994		5,365,921
Other borrowings	19,309		19,309		18,454		18,454
Level 3 inputs:
Junior subordinated debt	57,323		56,254		57,232		56,297

(in thousands)	Contract Amount		Fair Value		Contract Amount		Fair Value
Off-balance sheet:
Level 3 inputs:
Commitments	$	1,296,732	$	12,967	$	1,309,326	$	13,093
Standby letters of credit	12,084		121		12,014		120
Overdraft privilege commitments	109,752		1,098		110,402		1,104

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Investment Securities - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($) investment_security	Dec. 31, 2019 USD ($)
Investment Securities [Line Items]
Securities pledged as collateral	$ 463,165	$ 466,321
Residential real estate mortgage-backed securities	$ 793,680
Life of mortgage-backed securities	3 years 2 months 26 days
Obligations of U.S. government agencies
Investment Securities [Line Items]
Percentage of aggregate depreciation in unrealized losses	0.56%
Asset backed securities
Investment Securities [Line Items]
Percentage of aggregate depreciation in unrealized losses	11.02%
Number of available for sale securities in unrealized loss position (in investment securities) | investment_security	15

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Stock Options and Other Equity-Based Incentive Instruments

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock Options and Other Equity-Based Incentive Instruments

Stock Options and Other Equity-Based Incentive InstrumentsThe Company’s 2009 Equity Incentive Plan (2009 Plan) expired on March 26, 2019. While no new awards can be granted under the 2009 Plan, existing grants continue to be governed by the terms, conditions and procedures set forth in any applicable award agreement. On April 16, 2019, the Board of Directors adopted the 2019 Equity Incentive Plan (2019 Plan) which was approved by shareholders on May 21, 2019. The 2019 Plan allows for up to 1,500,000 shares to be issued in connection with equity-based incentives. All grants of equity awards made during the three months ended March 31, 2020, if any, were made from the 2019 Plan.

Stock option activity during the three months ended March 31, 2020 is summarized in the following table:

	Number of Shares	Option Price per Share	Weighted Average Exercise Price
Outstanding at December 31, 2019	160,500	$14.54 to $23.21	$	17.60
Options granted	—	—	—
Options exercised	(8,000)	$17.54 to $19.46	18.50
Options forfeited	—	—	—
Outstanding at March 31, 2020	152,500	$14.54 to $23.21	$	17.55

The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of March 31, 2020:

	Currently Exercisable		Currently Not Exercisable		Total Outstanding
Number of options	152,500		—		152,500
Weighted average exercise price	$	17.55	$	—	$	17.55
Intrinsic value (in thousands)	$	1,871	$	—	$	1,871
Weighted average remaining contractual term (yrs.)	2.6		0		2.6

As of March 31, 2020 all options outstanding are fully vested and are expected to be exercised prior to expiration. The Company did not modify any option grants during 2019 or the three months ended March 31, 2020.

Activity related to restricted stock unit awards during the three months ended March 31, 2020 is summarized in the following table:

	Service Condition Vesting RSUs	Market Plus Service Condition Vesting RSUs
Outstanding at December 31, 2019	68,597	51,312
RSUs granted	—	—
RSUs added through dividend and performance credits	521	—
RSUs released	(362)	—
RSUs forfeited/expired	(80)	(78)
Outstanding at March 31, 2020	68,676	51,234

The 68,676 of service condition vesting RSUs outstanding as of March 31, 2020 include a feature whereby each RSU outstanding is credited with a dividend amount equal to any common stock cash dividend declared and paid, and the credited amount is divided by the closing price of the Company’s stock on the dividend payable date to arrive at an additional amount of RSUs outstanding under the original grant. The dividend credits follow the same vesting requirements as the RSU awards and are not considered participating securities. The 68,676 of service condition vesting RSUs outstanding as of March 31, 2020 are expected to vest, and be released, on a weighted-average basis, over the next 1.1 years. The Company expects to recognize $1,537,782 of pre-tax compensation costs related to these service condition vesting RSUs between March 31, 2020 and their vesting dates. The Company did not modify any service condition vesting RSUs during 2019 or during the three months ended March 31, 2020.

The 51,234 of market plus service condition vesting RSUs outstanding as of March 31, 2020 are expected to vest, and be released, on a weighted-average basis, over the next 1.4 years. The Company expects to recognize $759,307 of pre-tax compensation costs related to these RSUs between March 31, 2020 and their vesting dates. As of March 31, 2020, the number of market plus service condition vesting RSUs outstanding that will actually vest, and be released, may be reduced to zero or increased to 76,851 depending on the total return of the Company’s common stock versus the total return of an index of bank stocks from the grant date to the vesting date. The Company did not modify any market plus service condition vesting RSUs during 2019 or during the three months ended March 31, 2020.

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Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

Leases

The Company records a right-of-use asset (“ROUA”) on the consolidated balance sheets for those leases that convey rights to control use of identified assets for a period of time in exchange for consideration. The Company also records a lease liability on the consolidated balance sheets for the present value of future payment commitments. All of the Company’s leases are comprised of operating leases in which the Company is lessee of real estate property for branches, ATM locations, and general administration and operations. The Company elected not to include short-term leases (i.e. leases with initial terms of twelve months or less) within the ROUA and lease liability. Known or determinable adjustments to the required minimum future lease payments were included in the calculation of the Company’s ROUA and lease liability. Adjustments to the required minimum future lease payments that are variable and will not be determinable until a future period, such as changes in the consumer price index, are included as variable lease costs. Additionally, expected variable payments for common area maintenance, taxes and insurance were unknown and not determinable at lease commencement and therefore, were not included in the determination of the Company’s ROUA or lease liability.

The value of the ROUA and lease liability is impacted by the amount of the periodic payment required, length of the lease term, and the discount rate used to calculate the present value of the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a

collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was used. The lease liability is reduced based on the discounted present value of remaining payments as of each reporting period. The ROUA value is measured using the amount of lease liability and adjusted for prepaid or accrued lease payments, remaining lease incentives, unamortized direct costs (if any), and impairment (if any).

The following table presents the components of lease expense for the three months ended:

(in thousands)	March 31, 2020		March 31, 2019
Operating lease cost	$	1,294	$	1,311
Short-term lease cost	63		71
Variable lease cost	6		(5)
Sublease income	(34)		(34)
Total lease cost	$	1,329	$	1,343

The following table presents supplemental cash flow information related to leases for the three months ended:

(in thousands)	March 31, 2020		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,237	$	1,218
ROUA obtained in exchange for operating lease liabilities	$	3,393	$	32,006

The following table presents the weighted average operating lease term and discount rate as of the periods ended:

	As of March 31, 2020		As of March 31, 2019
Weighted-average remaining lease term	10.3		9.5
Weighted-average discount rate	3.17	%	3.17	%

At March 31, 2020, future expected operating lease payments are as follows:

(in thousands)
Periods ending December 31,
2020	$	3,412
2021	4,428
2022	4,089
2023	3,410
2024	3,130
Thereafter	17,337
	35,806
Discount for present value of expected cash flows	(5,799)
Lease liability at March 31, 2020	$	30,007

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Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Interest and dividend income:
Loans, including fees	$ 56,258	$ 54,398
Investments:
Taxable securities	8,211	10,555
Tax exempt securities	904	1,073
Dividends	361	360
Interest bearing cash at Federal Reserve and other banks	783	1,071
Total interest and dividend income	66,517	67,457
Interest expense:
Deposits	2,551	2,719
Other borrowings	5	13
Junior subordinated debt	769	855
Total interest expense	3,325	3,587
Net interest income	63,192	63,870
Provision for (reversal of) credit losses	8,000	(1,600)
Net interest income after credit loss provision (reversal)	55,192	65,470
Non-interest income:
Service charges and fees	9,126	9,070
Gain on sale of loans	891	412
Gain on sale of investment securities	0	0
Asset management and commission income	916	642
Increase in cash value of life insurance	720	775
Other	167	904
Total non-interest income	11,820	11,803
Non-interest expense:
Salaries and related benefits	27,272	25,128
Other	17,547	20,324
Total non-interest expense	44,819	45,452
Income before provision for income taxes	22,193	31,821
Provision for income taxes	6,072	9,095
Net income	$ 16,121	$ 22,726
Per share data:
Basic earnings per share (in USD per share)	$ 0.53	$ 0.75
Diluted earnings per share (in USD per share)	0.53	0.74
Dividend per share (in USD per share)	$ 0.22	$ 0.19

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Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities:
Net income	$ 16,121	$ 22,726
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment, and amortization	1,618	1,838
Amortization of intangible assets	1,431	1,431
Provision for (reversal of) credit losses	8,000	(1,600)
Amortization of investment securities premium, net	509	571
Originations of loans for resale	(28,394)	(18,119)
Proceeds from sale of loans originated for resale	31,629	16,689
Gain on sale of loans	(891)	(412)
Change in market value of mortgage servicing rights	1,258	645
Gain on transfer of loans to foreclosed assets	0	(98)
Gain on sale of foreclosed assets	(41)	(99)
Operating lease expense payments	(1,237)	(1,218)
Loss on disposal of fixed assets	0	38
Increase in cash value of life insurance	(720)	(775)
Gain on life insurance death benefit	0	(32)
Gain on marketable equity securities	(47)	(36)
Equity compensation vesting expense	439	397
Change in:
Interest receivable	322	(1,019)
Interest payable	(421)	198
Amortization of operating lease ROUA	1,362	480
Other assets and liabilities, net	2,609	450
Net cash from operating activities	33,547	22,055
Investing activities:
Proceeds from maturities of securities available for sale	20,212	15,133
Proceeds from maturities of securities held to maturity	15,592	13,684
Purchases of securities available for sale	(101,899)	(1,238)
Loan origination and principal collections, net	(70,833)	(11,351)
Proceeds from sale of other real estate owned	353	278
Proceeds from sale of premises and equipment	0	11
Purchases of premises and equipment	(761)	(1,650)
Net cash from (used by) investing activities	(137,336)	14,867
Financing activities:
Net change in deposits	35,704	63,796
Net change in other borrowings	855	(3,373)
Repurchase of common stock, net of option exercises	(17,147)	(388)
Dividends paid	(6,664)	(5,782)
Net cash used from financing activities	12,748	54,253
Net change in cash and cash equivalents	(91,041)	91,175
Cash and cash equivalents, beginning of period	276,507	227,533
Cash and cash equivalents, end of period	185,466	318,708
Supplemental disclosure of noncash activities:
Unrealized gain (loss) on securities available for sale	(29,561)	12,710
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes	148	647
Obligations incurred in conjunction with leased assets	3,393	32,006
Loans transferred to foreclosed assets	0	116
Supplemental disclosure of cash flow activity:
Cash paid for interest expense	3,746	3,389
Cash paid for income taxes	$ 0	$ 0

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Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Components of Lease Expense

The following table presents the components of lease expense for the three months ended:

(in thousands)	March 31, 2020		March 31, 2019
Operating lease cost	$	1,294	$	1,311
Short-term lease cost	63		71
Variable lease cost	6		(5)
Sublease income	(34)		(34)
Total lease cost	$	1,329	$	1,343

Supplemental Cash Flow Information Related to Leases

The following table presents supplemental cash flow information related to leases for the three months ended:

(in thousands)	March 31, 2020		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,237	$	1,218
ROUA obtained in exchange for operating lease liabilities	$	3,393	$	32,006

Weighted Average Operating Lease Term And Discount Rate

The following table presents the weighted average operating lease term and discount rate as of the periods ended:

	As of March 31, 2020		As of March 31, 2019
Weighted-average remaining lease term	10.3		9.5
Weighted-average discount rate	3.17	%	3.17	%

Future Expected Operating Lease Payments

At March 31, 2020, future expected operating lease payments are as follows:

(in thousands)
Periods ending December 31,
2020	$	3,412
2021	4,428
2022	4,089
2023	3,410
2024	3,130
Thereafter	17,337
	35,806
Discount for present value of expected cash flows	(5,799)
Lease liability at March 31, 2020	$	30,007

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Description of Business and Basis of Presentation

TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 29 California counties. The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp.

The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1,792,000 are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheet. The subordinated debentures issued and guaranteed by the Company and held by the Capital Trusts are reflected as debt on the Company’s consolidated balance sheet.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading.

Segment and Significant Group Concentration of Credit Risk

The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout northern and central California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking.

Geographical Descriptions

For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo.

Reclassification

Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’equity.

Cash and Cash Equivalents

Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents.

Allowance for Credit Losses - Held to Maturity Securities

The Company measures expected credit losses on held-to-maturity debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on held-to-maturity debt securities totaled $920,000 at March 31, 2020 and is excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current condition and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption. Management has separately evaluated its HTM investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. As a result of this evaluation, management determined that the expected credit losses associated with these securities is not significant for financial reporting purposes and therefore, no allowance for credit losses has been recognized.

Loans

Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses.

Allowance for Credit Losses - Loans

The allowance for credit losses (ACL) is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate.

Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels and U.S. gross domestic product.

A loan is considered to be collateral dependent when repayment is expected to be provided substantially through the operation or sale of the collateral. The ACL on collateral dependent loans is measured using the fair value of the underlying collateral, adjusted for costs to sell when applicable, less the amortized cost basis of the financial asset. If the value of underlying collateral is determined to be less than the recorded amount of the loan, a charge-off will be taken. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, is considered to be a troubled debt restructuring (TDR). The ACL on a TDR is measured using the same method as all other portfolio loans, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the ACL is determined by discounting the expected future cash flows at the original interest rate of the loan.

The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss:

One to four residential term loans: The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

Commercial mortgage loans:

Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss.

Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment.

Consumer loans:

Home equity lines of credit (HELOC): Similar to residential real estate term loans, HELOC performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC.

Home equity loans: Similar to residential real estate term loans but secured by a deed of trust in a position that is junior to the primary lien holder.

Consumer - Automobile and other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by

rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

Commercial:

Commercial and industrial: Primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits.

Leases: The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above.

Agriculture: Repayment is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural loans may involve a greater degree of risk than other types of loans.

Construction: While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors.

Unfunded commitments: The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the balance sheet in other liabilities.

Accounting Standards Adopted in 2020 and Pending Adoption

On January 1, 2020, the Company adopted ASU 2016-03 Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized costs, including loan receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in certain leases. In addition, ASC 326 made changes to the accounting for available for sale debt securities. One such change is to require increases or decreases in credit losses be presented as an allowance rather than as a write-down on available for sale debt securities, based on management's intent to sell the security or likelihood the Company will be required to sell the security, before recovery of the amortized cost basis.

The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for the reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (PCD) that were previously classified as purchase credit impaired (PCI) and accounted for under ASC 310-30. In accordance with the Standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. The remaining noncredit discount (based on the adjusted amortized costs basis) will be accreted into interest income at the effective interest rate as of adoption. The Company recognized an increase in the ACL for loans totaling $18,913,000, including a reclassification of $481,000 from discounts on acquired loans to the allowance for credit losses, as a cumulative effect adjustment from change in accounting policies, with a corresponding decrease in retained earnings, net of $5,449,000 in taxes

of $12,983,000. Management has separately evaluated its held-to-maturity investment securities from obligations of state and political subdivisions and determined that no loss reserves were required.

On January 1, 2020 the Company adopted ASU 2017-04, Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment (Topic 350), which eliminates step two of the goodwill impairment test (the hypothetical purchase price allocation used to determine the implied fair value of goodwill) when step one (determining if the carrying value of a reporting unit exceeds its fair value) is failed. Instead, entities simply will compare the fair value of a reporting unit to its carrying amount and record goodwill impairment for the amount by which the reporting unit’s carrying amount exceeds its fair value. There was no goodwill impairment recorded during the quarter ended March 31, 2020.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the Coronavirus Disease 2019 (COVID-19) pandemic. The CARES Act provides optional temporary relief from troubled debt restructuring and impairment accounting requirements for loan modifications related to the COVID-19 pandemic made during the period from March 1, 2020 to the earlier of December 31, 2020 or 60 days after the national emergency concerning COVID-19 declared by the President terminates. The election of any such suspension would be applicable for the term of the loan modification but solely with respect to any modification (including a forbearance arrangement, an interest rate modification, a repayment plan and any other similar arrangement that defers or delays the payment of principal or interest) that occurs during the applicable period for a loan that was not more than 30 days past due as of December 31, 2019. The ability to suspend TDR accounting does not apply to any adverse impact on the credit of a borrower that is not related to the COVID-19 pandemic nor does it apply to borrowers.

FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The guidance also promotes consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU No. 2019-12 will be effective for the Company beginning January 1, 2021 and is not expected to have a significant impact on the Company’s consolidated financial statements.

FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform by providing optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected if certain criteria are met. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Amendments in this ASU are effective for the Company as of March 12, 2020 through December 31, 2022.

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Loans - Summary of Loan Balances (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Total	$ 4,379,062	$ 4,307,366
Allowance for loan losses	(57,911)	(30,616)	$ (32,064)	$ (32,582)
Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Allowance for loan losses	(34,903)	(14,301)	(14,830)	(15,620)
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Allowance for loan losses	(13,942)	(7,778)	(8,341)	(8,375)
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total	290,334
Allowance for loan losses	(4,471)	(5,149)	(6,078)	(6,090)
Construction
Loans and Leases Receivable Disclosure [Line Items]
Allowance for loan losses	(4,595)	(3,388)	(2,815)	(2,497)
Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total		509,508
Allowance for loan losses	(5,650)	(2,306)	(2,500)	(2,676)
Home equity loans | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	27,110	28,586
Allowance for loan losses	(673)	(611)	(1,286)	(1,540)
Other | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	82,427	82,656
Allowance for loan losses	(2,746)	(1,595)	(1,040)	(793)
Commercial | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total	2,889,183	2,818,782
Allowance for loan losses	(29,253)	(11,995)	(12,330)	(12,944)
Commercial | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total		283,707
Commercial | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total	199,381	203,681
Allowance for loan losses	(3,771)	(2,758)	(2,267)	(2,033)
Home equity lines of credit | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	341,461	334,300
Allowance for loan losses	(10,523)	(5,572)	(6,015)	(6,042)
Residential | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total	42,333	46,146
Allowance for loan losses	(824)	(630)	$ (548)	$ (464)
Residential | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total	506,833
Purchase Not Credit Impaired Loans
Loans and Leases Receivable Disclosure [Line Items]
Total	4,379,062	4,307,366
Total principal balance of loans owed, net of charge-offs	4,420,889	4,351,725
Unamortized net deferred loan fees	(8,794)	(8,927)
Discounts to principal balance of loans owed, net of charge-offs	(33,033)	(35,432)
Allowance for loan losses	(57,911)	(30,616)
Purchase Not Credit Impaired Loans | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total	3,396,016	3,328,290
Purchase Not Credit Impaired Loans | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	450,998	445,542
Purchase Not Credit Impaired Loans | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total	290,334	283,707
Purchase Not Credit Impaired Loans | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total	241,714	249,827
Purchase Not Credit Impaired Loans | Residential 1-4 family | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total	506,833	509,508
Purchase Not Credit Impaired Loans | Home equity loans | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	27,110	28,586
Purchase Not Credit Impaired Loans | Other | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	82,427	82,656
Purchase Not Credit Impaired Loans | Commercial | Mortgage Loans on Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total	2,889,183	2,818,782
Purchase Not Credit Impaired Loans | Commercial | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total	199,381	203,681
Purchase Not Credit Impaired Loans | Home equity lines of credit | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total	341,461	334,300
Purchase Not Credit Impaired Loans | Residential | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total	$ 42,333	$ 46,146

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Allowance for Credit Losses - Additional Information (Detail) - Financial Asset Originated - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Interest income on non accrual loans	$ 431	$ 400
Interest income recognized on non accrual loans	$ 47	$ 93

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Earnings Per Share - Computation of Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 16,121	$ 22,726
Average number of common shares outstanding (in shares)	30,395	30,424
Effect of dilutive stock options and restricted stock (in shares)	128	234
Average number of common shares outstanding used to calculate diluted earnings per share (in shares)	30,523	30,658
Options excluded from diluted earnings per share because the effect of these options was antidilutive (in shares)	0	0

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Stock Options and Other Equity-Based Incentive Instruments - Summary of Options Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in shares)	152,500	160,500
Weighted average exercise price (in USD per share)	$ 17.55	$ 17.60
Intrinsic value (in thousands)	$ 1,871
Weighted average remaining contractual term (in years)	2 years 7 months 6 days
Currently Exercisable
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in shares)	152,500
Weighted average exercise price (in USD per share)	$ 17.55
Intrinsic value (in thousands)	$ 1,871
Weighted average remaining contractual term (in years)	2 years 7 months 6 days
Currently Not Exercisable
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of options (in shares)	0
Weighted average exercise price (in USD per share)	$ 0
Intrinsic value (in thousands)	$ 0
Weighted average remaining contractual term (in years)	0 years

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Fair Value Measurement - Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value Measurements on Recurring Basis - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 1,012,869	$ 964,563
Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	3,007	2,960
Obligations of U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	469,218	472,980
Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	114,125	109,601
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	2,575	2,532
Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	416,081	365,025
Loans Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	2,695	5,265
Mortgage Servicing Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	5,168	6,200
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	3,007	2,960
Level 1 | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	3,007	2,960
Level 1 | Obligations of U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 1 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 1 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 1 | Loans Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 1 | Mortgage Servicing Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	1,004,694	955,403
Level 2 | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 2 | Obligations of U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	469,218	472,980
Level 2 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	114,125	109,601
Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	2,575	2,532
Level 2 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	416,081	365,025
Level 2 | Loans Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	2,695	5,265
Level 2 | Mortgage Servicing Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	5,168	6,200
Level 3 | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0
Level 3 | Obligations of U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 3 | Obligations of states and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 3 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 3 | Loans Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 3 | Mortgage Servicing Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 5,168	$ 6,200

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Commitments and Contingencies - Summary of Bank's Commitments and Contingent Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Real estate construction loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	$ 204,170	$ 222,998
Real estate mortgage loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	189,921	188,959
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	12,084	12,014
Commercial
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	360,793	363,793
Consumer loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	541,848	533,576
Deposit account overdraft privilege
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Commitments to extend credit	$ 109,752	$ 110,402

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Leases - Weighted Average Operating Lease Term And Discount Rate (Detail)	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term	10 years 3 months 18 days	9 years 6 months
Weighted-average discount rate	3.17%	3.17%

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Fair Value Measurement - Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis (Detail) - Mortgage Servicing Rights - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 6,200	$ 7,098
Transfers into (out of) Level 3	0	0
Change Included in Earnings	(1,258)	(645)
Issuances	226	119
Ending Balance	$ 5,168	$ 6,572

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Fair Value Measurement - Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financial assets:
Cash and due from banks	$ 95,364	$ 92,816
Cash at Federal Reserve and other banks	90,102	183,691
Securities held to maturity	359,770	375,606
Financial liabilities:
Other borrowings	19,309	18,454
Junior subordinated debt	57,323	57,232
Level 3 | Overdraft Privilege Commitments
Off-balance sheet:
Contract amount, Off-balance sheet	109,752	110,402
Level 3 | Standby letters of credit
Off-balance sheet:
Contract amount, Off-balance sheet	12,084	12,014
Level 3 | Commitments
Off-balance sheet:
Contract amount, Off-balance sheet	1,296,732	1,309,326
Carrying Amount | Level 1
Financial assets:
Cash and due from banks	95,364	92,816
Cash at Federal Reserve and other banks	90,102	183,691
Carrying Amount | Level 2
Financial assets:
Securities held to maturity	359,770	375,606
Restricted equity securities	17,250	17,250
Financial liabilities:
Deposits	5,402,698	5,366,994
Other borrowings	19,309	18,454
Carrying Amount | Level 3
Financial assets:
Loans Receivable, Fair Value Disclosure	4,321,151	4,276,750
Financial liabilities:
Junior subordinated debt	57,323	57,232
Fair Value | Level 1
Financial assets:
Cash and due from banks	95,364	92,816
Cash at Federal Reserve and other banks	90,102	183,691
Fair Value | Level 2
Financial assets:
Securities held to maturity	377,442	381,525
Financial liabilities:
Deposits	5,401,617	5,365,921
Other borrowings	19,309	18,454
Fair Value | Level 3
Financial assets:
Loans Receivable, Fair Value Disclosure	4,307,323	4,263,064
Financial liabilities:
Junior subordinated debt	56,254	56,297
Fair Value | Level 3 | Overdraft Privilege Commitments
Off-balance sheet:
Fair value, Off-balance sheet	1,098	1,104
Fair Value | Level 3 | Standby letters of credit
Off-balance sheet:
Fair value, Off-balance sheet	121	120
Fair Value | Level 3 | Commitments
Off-balance sheet:
Fair value, Off-balance sheet	$ 12,967	$ 13,093

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Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

The following table presents a summary of the Bank’s commitments and contingent liabilities:

(in thousands)	March 31, 2020		December 31, 2019
Financial instruments whose amounts represent risk:
Commitments to extend credit:
Commercial loans	$	360,793	$	363,793
Consumer loans	541,848		533,576
Real estate mortgage loans	189,921		188,959
Real estate construction loans	204,170		222,998
Standby letters of credit	12,084		12,014
Deposit account overdraft privilege	109,752		110,402

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Loans

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Loans

Loans

A summary of loan balances follows:

(in thousands)	March 31, 2020		December 31, 2019
Mortgage loans on real estate:
Residential 1-4 family	$	506,833	$	509,508
Commercial	2,889,183		2,818,782
Total mortgage loans on real estate	3,396,016		3,328,290
Consumer:
Home equity lines of credit	341,461		334,300
Home equity loans	27,110		28,586
Other	82,427		82,656
Total consumer loans	450,998		445,542
Commercial	290,334		283,707
Construction:
Residential	42,333		46,146
Commercial	199,381		203,681
Total construction loans	241,714		249,827
Total loans, net of deferred loan fees and discounts	$	4,379,062	$	4,307,366
Total principal balance of loans owed, net of charge-offs	$	4,420,889	$	4,351,725
Unamortized net deferred loan fees	(8,794)		(8,927)
Discounts to principal balance of loans owed, net of charge-offs	(33,033)		(35,432)
Total loans, net of unamortized deferred loan fees and discounts	$	4,379,062	$	4,307,366
Allowance for loan losses	$	(57,911)	$	(30,616)

Loans

Allowance for Credit Losses

The following tables summarize the activity in the allowance for credit losses on loans, and ending balance of loans, net of unearned fees for the periods indicated:

	Allowance for Loan Losses – Three Months Ended March 31, 2020
(in thousands)	Beginning Balance		Impact of CECL Adoption		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,306	$	2,675	$	—	$	410	$	259	$	5,650
Commercial	11,995		11,848		—		194		5,216		29,253
Total mortgage loans on real estate	14,301		14,523		—		604		5,475		34,903
Consumer:
Home equity lines of credit	5,572		4,549		—		33		369		10,523
Home equity loans	611		89		—		15		(42)		673
Other	1,595		971		(130)		94		216		2,746
Total consumer loans	7,778		5,609		(130)		142		543		13,942
Commercial	5,149		(2,152)		(380)		146		1,708		4,471
Construction:
Residential	630		189		—		—		5		824
Commercial	2,758		744		—		—		269		3,771
Total construction loans	3,388		933		—		—		274		4,595
Total	$	30,616	$	18,913	$	(510)	$	892	$	8,000	$	57,911

In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At both January 1, 2020, the adoption and implementation date of ASC Topic 326, and March 31, 2020, the Company utilized a reasonable and supportable forecast period of approximately eight quarters and obtained the forecast data from publicly available sources. The Company also considered the impact of portfolio concentrations, changes in underwriting practices, imprecision in its economic forecasts, and other risk factors that might influence its loss estimation process. During the quarter ended March 31, 2020 the levels of actual and forecasted California unemployment and gross domestic product continued to deteriorate and as a result, were the primary cause for the increase in allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2020 appropriately reflected expected credit losses inherent in the loan portfolio at that date.

	Allowance for Loan Losses – Year Ended December 31, 2019
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,676	$	(2)	$	54	$	(422)	$	2,306
Commercial	12,944		(746)		1,528		(1,731)		11,995
Total mortgage loans on real estate	15,620		(748)		1,582		(2,153)		14,301
Consumer:
Home equity lines of credit	6,042		—		504		(974)		5,572
Home equity loans	1,540		(3)		431		(1,357)		611
Other	793		(765)		321		1,246		1,595
Total consumer loans	8,375		(768)		1,256		(1,085)		7,778
Commercial	6,090		(2,123)		525		657		5,149
Construction:
Residential	464		—		—		166		630
Commercial	2,033		—		—		725		2,758
Total construction loans	2,497		—		—		891		3,388
Total	$	32,582	$	(3,639)	$	3,363	$	(1,690)	$	30,616

	Allowance for Loan Losses – Three Months Ended March 31, 2019
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,676	$	—	$	2	$	(178)	$	2,500
Commercial	12,944		—		1,381		(1,995)		12,330
Total mortgage loans on real estate	15,620		—		1,383		(2,173)		14,830
Consumer:
Home equity lines of credit	6,042		—		95		(122)		6,015
Home equity loans	1,540		—		87		(341)		1,286
Other	793		(207)		75		379		1,040
Total consumer loans	8,375		(207)		257		(84)		8,341
Commercial	6,090		(519)		168		339		6,078
Construction:
Residential	464		—		—		84		548
Commercial	2,033		—		—		234		2,267
Total construction loans	2,497		—		—		318		2,815
Total	$	32,582	$	(726)	$	1,808	$	(1,600)	$	32,064

As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including, but not limited to, trends relating to (i) the level of criticized and classified loans, (ii) net charge-offs, (iii) non-performing loans, and (iv) delinquency within the portfolio. The Company analyzes loans individually to classify the loans as to credit risk and grading. This analysis is performed annually for all outstanding balances greater than $1,000,000 and non-homogeneous loans, such as commercial real estate loans, unless other indicators, such as delinquency, trigger more frequent evaluation. Loans below the $1,000,000 threshold and homogenous in nature are evaluated as needed based on delinquency and borrower credit scores.

The Company utilizes a risk grading system to assign a risk grade to each of its loans. Loans are graded on a scale ranging from Pass to Loss. A description of the general characteristics of the risk grades is as follows:

•Pass– This grade represents loans ranging from acceptable to very little or no credit risk. These loans typically meet most if not all policy standards in regard to: loan amount as a percentage of collateral value, debt service coverage, profitability, leverage, and working capital.

•Special Mention– This grade represents “Other Assets Especially Mentioned” in accordance with regulatory guidelines and includes loans that display some potential weaknesses which, if left unaddressed, may result in deterioration of the repayment prospects for the asset or may inadequately protect the Company’s position in the future. These loans warrant more than normal supervision and attention.

•Substandard– This grade represents “Substandard” loans in accordance with regulatory guidelines. Loans within this rating typically exhibit weaknesses that are well defined to the point that repayment is jeopardized. Loss potential is, however, not necessarily evident. The underlying collateral supporting the credit appears to have sufficient value to protect the Company from loss of principal and accrued interest, or the loan has been written down to the point where this is true. There is a definite need for a well-defined workout/rehabilitation program.

•Doubtful– This grade represents “Doubtful” loans in accordance with regulatory guidelines. An asset classified as Doubtful has all the weaknesses inherent in a loan classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and financing plans.

•Loss– This grade represents “Loss” loans in accordance with regulatory guidelines. A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan, even though some recovery may be affected in the future. The portion of the loan that is graded loss should be charged off no later than the end of the quarter in which the loss is identified.

Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated:

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Mortgage loans on real estate:
Residential 1-4 family risk ratings
Pass	$25,698	$102,369	$59,278	$69,504	$60,063	$179,461	—	$117	$496,490
Special Mention	—	—	—	868	18	2,953	—	105	3,944
Substandard	—	—	574	996	51	4,778	—	—	6,399
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total residential 1-4 family - mortgage loans	$25,698	$102,369	$59,852	$71,368	$60,132	$187,192	$—	$222	$506,833

Mortgage loans on real estate:
Commercial risk ratings
Pass	$82,428	$457,462	$364,082	$443,054	$407,011	$967,584	$102,830	$1,501	$2,825,952
Special Mention	70	2,288	—	7,618	11,562	10,722	12,588	—	44,848
Substandard	200	1,394	1,445	1,580	3,191	9,801	772	—	18,383
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial - mortgage loans	$82,698	$461,144	$365,527	$452,252	$421,764	$988,107	$116,190	$1,501	$2,889,183

Consumer loans:
Home equity line of credit risk ratings
Pass	$2,859	$8,591	$2,967	$714	$1,561	$10,815	$304,911	$627	$333,045
Special Mention	80	—	36	46	70	644	3,524	—	4,400
Substandard	—	—	57	529	80	1,078	2,266	6	4,016
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total home equity lines of credit - consumer loans	$2,939	$8,591	$3,060	$1,289	$1,711	$12,537	$310,701	$633	$341,461

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Consumer loans:
Home equity loans risk ratings
Pass	$2	$580	$290	$378	$673	$21,191	$500	$16	$23,630
Special Mention	—	—	19	—	—	906	—	—	925
Substandard	153	—	—	—	145	2,257	—	—	2,555
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total home equity loans - consumer loans	$155	$580	$309	$378	$818	$24,354	$500	$16	$27,110

Consumer loans:
Other risk ratings
Pass	$7,679	$40,454	$20,465	$6,221	$1,883	$1,787	$1,747	$1,407	$81,643
Special Mention	—	53	170	141	44	158	83	2	651
Substandard	—	59	—	12	11	35	16	—	133
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total other - consumer loans	$7,679	$40,566	$20,635	$6,374	$1,938	$1,980	$1,846	$1,409	$82,427

Commercial loans:
Commercial risk ratings
Pass	$15,616	$66,145	$32,209	$25,226	$10,041	$17,434	$112,189	$5,164	$284,024
Special Mention	—	—	75	539	149	110	604	700	2,177
Substandard	—	153	382	1,236	1,262	201	725	174	4,133
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial loans	$15,616	$66,298	$32,666	$27,001	$11,452	$17,745	$113,518	$6,038	$290,334

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Construction loans:
Residential risk ratings
Pass	$1,725	$15,703	$17,067	$0	$3,459	$0	$0	$0	$37,954
Special Mention	—	—	—	—	4,379	—	—	—	4,379
Substandard	—	—	—	—	—	—	—	—	—
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total residential - construction loans	$1,725	$15,703	$17,067	$0	$7,838	$0	$0	$0	$42,333

Construction loans:
Commercial risk ratings
Pass	$14,081	$35,515	$82,740	$43,455	$15,793	$5,709	$0	$0	$197,293
Special Mention	—	—	—	—	—	1,845	—	—	1,845
Substandard	—	—	—	—	—	243	—	—	243
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial - construction loans	$14,081	$35,515	$82,740	$43,455	$15,793	$7,797	$0	$0	$199,381

Total loans:
Risk ratings
Pass	$150,088	$726,819	$579,098	$588,552	$500,484	$1,203,981	$522,177	$8,832	$4,280,031
Special Mention	150	2,341	300	9,212	16,222	17,338	16,799	807	63,169
Substandard	353	1,606	2,458	4,353	4,740	18,393	3,779	180	35,862
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total loans	$150,591	$730,766	$581,856	$602,117	$521,446	$1,239,712	$542,755	$9,819	$4,379,062

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Mortgage loans on real estate:
Residential 1-4 family risk ratings
Pass		$102,613	$63,542	$73,195	$65,050	$194,214	—	—	$498,614
Special Mention		—	—	1,408	19	3,287	—	—	4,714
Substandard		—	813	711	52	4,604	—	—	6,180
Doubtful/Loss		—	—	—	—	—	—	—	$0
Total residential 1-4 family - mortgage loans		$102,613	$64,355	$75,314	$65,121	$202,105	$—	$—	$509,508

Mortgage loans on real estate:
Commercial risk ratings
Pass	$446,597	$373,065	$421,901	$415,568	$1,010,057	$107,965	$748	$2,775,901
Special Mention	—	—	4,965	9,373	8,467	2,253	—	25,058
Substandard	830	1,454	1,591	3,216	9,937	795	—	17,823
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial - mortgage loans	$447,427	$374,519	$428,457	$428,157	$1,028,461	$111,013	$748	$2,818,782

Consumer loans:
Home equity line of credit risk ratings
Pass	$10,195	$3,436	$1,015	$1,729	$11,821	$297,458	$663	$326,317
Special Mention	—	11	47	31	665	3,398	37	4,189
Substandard	—	59	253	77	1,223	2,146	36	3,794
Doubtful/Loss	—	—	—	—	—	—	—	—
Total home equity lines of credit - consumer loans	$10,195	$3,506	$1,315	$1,837	$13,709	$303,002	$736	$334,300

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Consumer loans:
Home equity loans risk ratings
Pass		$607	$300	$382	$712	$22,655	$399	$37	$25,092
Special Mention		—	20	—	—	1,172	—	—	1,192
Substandard		—	—	—	156	2,146	—	—	2,302
Doubtful/Loss		—	—	—	—	—	—	—	—
Total home equity loans - consumer loans		$607	$320	$382	$868	$25,973	$399	$37	$28,586

Consumer loans:
Other risk ratings
Pass	$45,675	$23,014	$7,176	$2,245	$2,099	$1,602	$3	$81,814
Special Mention	56	182	176	52	172	81	—	719
Substandard	60	—	13	1	45	1	3	123
Doubtful/Loss	—	—	—	—	—	—	—	—
Total other - consumer loans	$45,791	$23,196	$7,365	$2,298	$2,316	$1,684	$6	$82,656

Commercial loans:
Commercial risk ratings
Pass	$77,614	$37,411	$27,195	$11,906	$17,806	$100,098	$3,623	$275,653
Special Mention	—	339	1,236	167	164	1,921	—	3,827
Substandard	—	48	1,481	1,646	393	611	48	4,227
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial loans	$77,614	$37,798	$29,912	$13,719	$18,363	$102,630	$3,671	$283,707

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Construction loans:
Residential risk ratings
Pass		$18,516	$12,990	$0	$3,319	$0	$6,230	$889	$41,944
Special Mention		—	—	—	4,202	—	—	—	4,202
Substandard		—	—	—	—	—	—	—	—
Doubtful/Loss		—	—	—	—	—	—	—	—
Total residential - construction loans		$18,516	$12,990	$0	$7,521	$0	$6,230	$889	$46,146

Construction loans:
Commercial risk ratings
Pass	$31,031	$72,339	$76,043	$15,654	$7,322	$975	$0	$203,364
Special Mention	—	—	—	—	317	—	—	317
Substandard	—	—	—	—	—	—	—	—
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial - construction loans	$31,031	$72,339	$76,043	$15,654	$7,639	$975	$0	$203,681

Total loans:
Risk ratings
Pass	$732,848	$586,097	$606,907	$516,183	$1,265,974	$514,727	$5,963	$4,228,699
Special Mention	56	552	7,832	13,844	14,244	7,653	37	44,218
Substandard	890	2,374	4,049	5,148	18,348	3,553	87	34,449
Doubtful/Loss	—	—	—	—	—	—	—	—
Total loans	$733,794	$589,023	$618,788	$535,175	$1,298,566	$525,933	$6,087	$4,307,366

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of March 31, 2020
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Mortgage loans on real estate:
Residential 1-4 family	$	699	$	—	$	1,763	$	2,462	$	504,371	$	506,833
Commercial	18,445		1,283		2,675		22,403		2,866,780		2,889,183
Total mortgage loans on real estate	19,144		1,283		4,438		24,865		3,371,151		3,396,016
Consumer:
Home equity lines of credit	572		85		1,118		1,775		339,686		341,461
Home equity loans	200		64		193		457		26,653		27,110
Other	100		12		114		226		82,201		82,427
Total consumer loans	872		161		1,425		2,458		448,540		450,998
Commercial	1,014		932		70		2,016		288,318		290,334
Construction:
Residential	—		—		—		—		42,333		42,333
Commercial	—		—		—		—		199,381		199,381
Total construction loans	—		—		—		—		241,714		241,714
Total originated loans	$	21,030	$	2,376	$	5,933	$	29,339	$	4,349,723	$	4,379,062

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of December 31, 2019
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Mortgage loans on real estate:
Residential 1-4 family	$	1,149	$	371	$	1,957	$	3,477	$	506,031	$	509,508
Commercial	581		136		2,431		3,148		2,815,634		2,818,782
Total mortgage loans on real estate	1,730		507		4,388		6,625		3,321,665		3,328,290
Consumer:
Home equity lines of credit	1,083		363		956		2,402		331,898		334,300
Home equity loans	175		216		132		523		28,063		28,586
Other	172		1		23		196		82,460		82,656
Total consumer loans	1,430		580		1,111		3,121		442,421		445,542
Commercial	652		298		24		974		282,733		283,707
Construction:
Residential	—		—		—		—		46,146		46,146
Commercial	—		—		—		—		203,681		203,681
Total construction loans	—		—		—		—		249,827		249,827
Total loans	$	3,812	$	1,385	$	5,523	$	10,720	$	4,296,646	$	4,307,366

The following table shows the ending balance of non accrual loans by loan category as of the date indicated:

	Non Accrual Loans
	As of March 31, 2020						As of December 31, 2019
(in thousands)	Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing		Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing
Mortgage loans on real estate:
Residential 1-4 family	$	5,169	$	5,784	$	—	$	5,023	$	5,192	$	—
Commercial	5,451		5,514		—		5,316		5,316		—
Total mortgage loans on real estate	10,620		11,298		—		10,339		10,508		—
Consumer:
Home equity lines of credit	2,760		3,210		—		2,419		2,590		—
Home equity loans	1,523		1,654		—		1,574		1,626		—
Other	—		140		—		4		51		11
Total consumer loans	4,283		5,004				3,997		4,267		11
Commercial	298		1,653		—		489		2,089		—
Construction:
Residential	—		—		—		—		—		—
Commercial	—		—		—		—		—		—
Total construction	—		—		—		—		—		—
Total non accrual loans	$	15,201	$	17,955	$	—	$	14,825	$	16,864	$	11

Interest income on non accrual loans that would have been recognized during the three months ended March 31, 2020 and 2019, if all such loans had been current in accordance with their original terms, totaled $431,000 and $400,000, respectively. Interest income actually recognized on these originated loans during the three months ended March 31, 2020 and 2019 was $47,000 and $93,000, respectively.

The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods:

	As of March 31, 2020
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Unsecured		Total
Mortgage loans on real estate:
Residential 1-4 family	$	—	$	—	$	—	$	—	$	—	$	—	$	5,815	$	—	$	—	$	—	$	—	$	—	$	5,815
Commercial	2,483		161		1,866		506		2,060		1,203		—		—		—		—		—		—		8,279
Total mortgage loans on real estate	2,483		161		1,866		506		2,060		1,203		5,815		—		—		—		—		—		14,094
Consumer:
Home equity lines of credit	—		—		—		—		—		—		—		1,936		—		—		—		—		1,936
Home equity loans	—		—		—		—		—		—		—		2,106		—		—		—		—		2,106
Other	—		—		—		—		—		156		47		—		127		—		—		4		334
Total consumer loans	—		—		—		—		—		156		47		4,042		127		—		—		4		4,376
Commercial	—		—		—		—		—		—		—		—		—		1,824		1,012		116		2,952
Total collateral dependent loans	$	2,483	$	161	$	1,866	$	506	$	2,060	$	1,359	$	5,862	$	4,042	$	127	$	1,824	$	1,012	$	120	$	21,422

	As of December 31, 2019
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Unsecured		Total
Mortgage loans on real estate:
Residential 1-4 family	$	—	$	—	$	—	$	—	$	—	$	—	$	5,293	$	—	$	—	$	—	$	—	$	—	$	5,293
Commercial	2,506		163		1,640		509		2,060		1,242		—		—		—		—		—		—		8,120
Total mortgage loans on real estate	2,506		163		1,640		509		2,060		1,242		5,293		—		—		—		—		—		13,413
Consumer:
Home equity lines of credit	—		—		—		—		—		—		—		1,808		—		—		—		—		1,808
Home equity loans	—		—		—		—		—		—		—		2,040		—		—		—		—		2,040
Other	—		—		—		—		—		—		48		—		27		—		—		4		79
Total consumer loans	—		—		—		—		—		—		48		3,848		27		—		—		4		3,927
Commercial	—		—		—		—		—		—		—		—		—		1,952		1,026		107		3,085
Total collateral dependent loans	$	2,506	$	163	$	1,640	$	509	$	2,060	$	1,242	$	5,341	$	3,848	$	27	$	1,952	$	1,026	$	111	$	20,425

The following tables show certain information regarding TDRs that occurred during the periods indicated:

	TDR Information for the three months ended March 31, 2020
(dollars in thousands)	Number	Pre-mod outstanding principal balance		Post-mod outstanding principal balance		Financial impact due to TDR taken as additional provision		Number that defaulted during the period	Recorded investment of TDRs that defaulted during the period		Financial impact due to the default of previous TDR taken as charge- offs or additional provisions
Mortgage loans on real estate:
Residential 1-4 family	—	$	—	$	—	$	—	1	$	302	$	—
Commercial	3	487		549		—		—	—		—
Total mortgage loans on real estate	3	487		549		—		1	302		—
Consumer:
Home equity lines of credit	—	—		—		—		—	—		—
Home equity loans	2	172		169		—		—	—		—
Other	—	—		—		—		—	—		—
Total consumer loans	2	172		169		—		—	—		—
Commercial	1	21		20		21		—	—		—
Construction:
Residential	—	—		—		—		—	—		—
Commercial	—	—		—		—		—	—		—
Total construction loans	—	—		—		—		—	—		—
Total	6	$	680	$	738	$	21	1	$	302	$	—

	TDR Information for the three months ended March 31, 2019
(dollars in thousands)	Number	Pre-mod outstanding principal balance		Post-mod outstanding principal balance		Financial impact due to TDR taken as additional provision		Number that defaulted during the period		Recorded investment of TDRs that defaulted during the period		Financial impact due to the default of previous TDR taken as charge- offs or additional provisions
Mortgage loans on real estate:
Residential 1-4 family	—	$	163	$	162	$	—	$	—	$	—	$	—
Commercial	—	—		—		—		—		—		—
Total mortgage loans on real estate	1	163		162		—		—		—		—
Consumer:
Home equity lines of credit	—	—		—		—		—		—		—
Home equity loans	1	121		120		1		—		—		—
Other	—	—		—		—		—		—		—
Total consumer loans	1	121		120		1		—		—		—
Commercial	2	15		15		—		1		7		—
Construction:
Residential	—	—				—		—		—		—
Commercial	—	—				—		—		—		—
Total construction loans	—	—		—		—		—		—		—
Total	4	$	299	$	297	$	1	1		$	7	$	—

The Company also modified the terms of select loans in an effort to assist borrowers that were not related to the COVID-19 pandemic. If the borrower was experiencing financial difficulty and a concession was granted, the Company considered such modifications as troubled debt restructurings. Modifications classified as TDRs can include one or a combination of the following: rate modifications, term extensions, interest only modifications, either temporary or long-term, payment modifications, and collateral substitutions/additions. The objective of the modifications was to increase loan repayments by customers and thereby reduce net charge-offs. The modified loans are included in impaired loans for purposes of determining the level of the allowance for credit losses.

For all new TDRs, an impairment analysis is conducted. If the loan is determined to be collateral dependent, any additional amount of impairment will be calculated based on the difference between estimated collectible value and the current carrying balance of the loan. This difference could result in an increased provision and is typically charged off. If the asset is determined not to be collateral dependent, the impairment is measured on the net present value difference between the expected cash flows of the restructured loan and the cash flows which would have been received under the original terms. The effect of this could result in a requirement for additional provision to the reserve. The effect of these required provisions for the period are indicated above.

Typically if a TDR defaults during the period, the loan is then considered collateral dependent and, if it was not already considered collateral dependent, an appropriate provision will be reserved or charge will be taken. The additional provisions required resulting from default of previously modified TDR’s are noted above. Loans that defaulted within the twelve month period subsequent to modification were not considered significant for financial reporting purposes.

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Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share represent income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following:

	Three months ended March 31,
(in thousands)	2020		2019
Net income	$	16,121	$	22,726
Average number of common shares outstanding	30,395		30,424
Effect of dilutive stock options and restricted stock	128		234
Average number of common shares outstanding used to calculate diluted earnings per share	30,523		30,658
Options excluded from diluted earnings per share because the effect of these options was antidilutive	—		—

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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Computation of Earnings Per Share

Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following:

	Three months ended March 31,
(in thousands)	2020		2019
Net income	$	16,121	$	22,726
Average number of common shares outstanding	30,395		30,424
Effect of dilutive stock options and restricted stock	128		234
Average number of common shares outstanding used to calculate diluted earnings per share	30,523		30,658
Options excluded from diluted earnings per share because the effect of these options was antidilutive	—		—

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Summary of Significant Accounting Policies - Additional Information (Detail)		3 Months Ended
	Jan. 01, 2020 USD ($)	Mar. 31, 2020 USD ($) business_trust Segment county	Dec. 31, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Significant Accounting Policies [Line Items]
Number of subsidiary business trusts (in trusts) | business_trust		5
Number of loan production offices (in offices) | business_trust		2
Company's investments in the trusts		$ 1,792,000
Number of business segments | Segment		1
Loans contractual past due		90 days
Allowance for credit loss		$ 57,911,000	$ 30,616,000	$ 32,064,000	$ 32,582,000
Goodwill impairment loss		$ 0
North Valley Bancorp
Significant Accounting Policies [Line Items]
Number of loan production offices (in offices) | business_trust		3
Held-to-maturity securities
Significant Accounting Policies [Line Items]
Interest receivable		$ 920,000
Financial asset acquired with credit deterioration
Significant Accounting Policies [Line Items]
Allowance for credit loss	$ 481,000
ASU 2016-13
Significant Accounting Policies [Line Items]
Allowance for credit loss	18,913,000
Cumulative change, effect on retained earnings	5,449,000
Cumulative change from adoption of ASU 2016-13	$ 12,983,000
Minimum
Significant Accounting Policies [Line Items]
Loan term		5 years
Amortization period		15 years
Maximum
Significant Accounting Policies [Line Items]
Loan term		10 years
Amortization period		30 years
California
Significant Accounting Policies [Line Items]
Number of counties (in counties) | county		29

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Deposits - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Deposits [Line Items]
Overdrawn deposit balances classified as consumer loans	$ 1,543	$ 1,550
California
Schedule Of Deposits [Line Items]
Certificate of deposits, included in time certificates, over $250,000	$ 30,000	$ 30,000

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Leases - Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating cash flows for operating leases	$ 1,237	$ 1,218
ROUA obtained in exchange for operating lease liabilities	$ 3,393	$ 32,006

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Fair Value Measurement - Quantitative Information about Recurring Level 3 Fair Value Measurements (Detail) - Mortgage Servicing Rights $ in Thousands	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgages servicing rights, fair value	$ 5,168	$ 6,200
Minimum | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.07	0.06
Minimum | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.10	0.10
Maximum | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.42	0.420
Maximum | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.14	0.14
Weighted Average | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.11	0.110
Weighted Average | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.12	0.12

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Regulatory Matters - Actual and Required Capital Ratios of Bank (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Parent
Schedule of Capitalization [Line Items]
Total Capital (to Risk Weighted Assets)	$ 762,763	$ 753,200
Tier 1 Capital (to Risk Weighted Assets)	702,007	719,809
Common Equity Tier 1 Capital (to Risk Weighted Assets)	646,407	664,296
Tier 1 Capital (to Average Assets)	$ 702,007	$ 719,809
Total Capital Ratio (to Risk Weighted Assets)	15.12%	15.07%
Tier 1 Capital Ratio (to Risk Weighted Assets)	13.92%	14.40%
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets)	12.82%	13.29%
Tier 1 Capital Ratio (to Average Assets)	11.22%	11.55%
Parent | Basel III Fully Phased In
Schedule of Capitalization [Line Items]
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement	$ 529,576	$ 524,944
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement	428,705	424,955
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement	353,051	349,963
Tier 1 Capital (to Average Assets), Minimum Capital Requirement	$ 250,216	$ 249,343
Total Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	10.50%	10.50%
Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	8.50%	8.50%
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	7.00%	7.00%
Tier 1 Capital Ratio (to Average Assets), Minimum Capital Requirement	4.00%	4.00%
Tri Countries Bank
Schedule of Capitalization [Line Items]
Total Capital (to Risk Weighted Assets)	$ 755,893	$ 748,660
Tier 1 Capital (to Risk Weighted Assets)	695,137	715,269
Common Equity Tier 1 Capital (to Risk Weighted Assets)	695,137	715,269
Tier 1 Capital (to Average Assets)	$ 695,137	$ 715,269
Total Capital Ratio (to Risk Weighted Assets)	14.99%	14.98%
Tier 1 Capital Ratio (to Risk Weighted Assets)	13.79%	14.31%
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets)	13.79%	14.31%
Tier 1 Capital Ratio (to Average Assets)	11.11%	11.47%
Total Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 504,179	$ 499,770
Capital Required to be Well Capitalized to Risk Weighted Assets	10.00%	10.00%
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 403,343	$ 399,816
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	8.00%	8.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 327,716	$ 324,851
Common Equity Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	6.50%	6.50%
Tier 1 Capital (to Average Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 312,762	$ 311,672
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	5.00%	5.00%
Tri Countries Bank | Basel III Fully Phased In
Schedule of Capitalization [Line Items]
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement	$ 529,388	$ 524,759
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement	428,552	424,805
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement	352,925	349,839
Tier 1 Capital (to Average Assets), Minimum Capital Requirement	$ 250,209	$ 249,337
Total Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	10.50%	10.50%
Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	8.50%	8.50%
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement	7.00%	7.00%
Tier 1 Capital Ratio (to Average Assets), Minimum Capital Requirement	4.00%	4.00%

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Non-interest Income and Expense

3 Months Ended

Mar. 31, 2020

Other Income and Expenses [Abstract]

Non-interest Income and Expense

Non-interest Income and Expense

The following table summarizes the Company’s non-interest income for the periods indicated:

	Three months ended March 31,
(dollars in thousands)	2020		2019
ATM and interchange fees	$	5,111	$	4,581
Service charges on deposit accounts	4,046		3,880
Other service fees	758		771
Mortgage banking service fees	469		483
Change in value of mortgage servicing rights	(1,258)		(645)
Total service charges and fees	9,126		9,070
Increase in cash value of life insurance	720		775
Asset management and commission income	916		642
Gain on sale of loans	891		412
Lease brokerage income	193		220
Sale of customer checks	124		140
Gain on sale of investment securities	—		—
Gain on marketable equity securities	47		36
Other	(197)		508
Total other non-interest income	2,694		2,733
Total non-interest income	$	11,820	$	11,803

The components of non-interest expense were as follows (in thousands):

	Three months ended March 31,
	2020		2019
Base salaries, net of deferred loan origination costs	$	17,623	$	16,757
Incentive compensation	3,101		2,567
Benefits and other compensation costs	6,548		5,804
Total salaries and benefits expense	27,272		25,128
Occupancy	3,875		3,774
Data processing and software	3,367		3,349
Equipment	1,512		1,867
Intangible amortization	1,431		1,431
Advertising	665		1,331
ATM and POS network charges	1,373		1,323
Professional fees	703		839
Telecommunications	725		797
Regulatory assessments and insurance	95		511
Postage	290		310
Operational losses	221		225
Courier service	331		270
Gain on sale of foreclosed assets	(41)		(99)
Loss on disposal of fixed assets	—		24
Other miscellaneous expense	3,000		4,372
Total other non-interest expense	17,547		20,324
Total non-interest expense	$	44,819	$	45,452

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Deposits

3 Months Ended

Mar. 31, 2020

Deposits [Abstract]

Deposits

Deposits

A summary of the balances of deposits follows (in thousands):

	March 31, 2020		December 31, 2019
Noninterest-bearing demand	$	1,883,143	$	1,832,665
Interest-bearing demand	1,243,192		1,242,274
Savings	1,857,684		1,851,549
Time certificates, $250,000 or more	111,262		129,061
Other time certificates	307,417		311,445
Total deposits	$	5,402,698	$	5,366,994

Certificate of deposit balances of $30,000,000 from the State of California were included in time certificates, over $250,000, at March 31, 2020 and December 31, 2019, respectively. The Company participates in a deposit program offered by the State of California whereby the State may make deposits at the Company’s request subject to collateral and credit worthiness constraints. The negotiated rates on these State deposits are generally more favorable than other wholesale funding sources available to the Company. Overdrawn deposit balances of $1,543,000 and $1,550,000 were classified as consumer loans at March 31, 2020 and December 31, 2019, respectively

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Investment Securities

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Investment Securities

Investment Securities

The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables:

	March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
			(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	447,736	$	21,482	$	—	$	—	$	469,218
Obligations of states and political subdivisions	110,564		3,561		—		—		114,125
Corporate bonds	2,437		138		—		—		2,575
Asset backed securities	467,436		8		(51,363)		—		416,081
Total debt securities available for sale	$	1,028,173	$	25,189	$	(51,363)	$	—	$	1,001,999

	March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Allowance for Credit Losses
	(in thousands)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	345,944	$	17,352	$	(4)	$	363,292	$	—
Obligations of states and political subdivisions	13,826		324		—		14,150		—
Total debt securities held to maturity	$	359,770	$	17,676	$	(4)	$	377,442	$	—

	December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
			(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	466,139	$	7,261	$	(420)	$	472,980
Obligations of states and political subdivisions	106,373		3,229		(1)		109,601
Corporate bonds	2,430		102		—		2,532
Asset backed securities	371,809		129		(6,913)		365,025
Total debt securities available for sale	$	946,751	$	10,721	$	(7,334)	$	950,138
Debt Securities Held to Maturity
Obligations of U.S. government agencies	361,785		6,072		(480)		367,377
Obligations of states and political subdivisions	13,821		327		—		14,148
Total debt securities held to maturity	$	375,606	$	6,399	$	(480)	$	381,525

There were no sales of investment securities during the three months ended March 31, 2020 and 2019, respectively. Investment securities with an aggregate carrying value of $463,165,000 and $466,321,000 at March 31, 2020 and December 31, 2019, respectively, were pledged as collateral for specific borrowings, lines of credit or local agency deposits.

The amortized cost and estimated fair value of debt securities at March 31, 2020 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. At March 31, 2020, obligations of U.S. government corporations and agencies with a cost basis totaling $793,680,000 consist almost entirely of residential real estate mortgage-backed securities whose contractual maturity, or principal repayment, will follow the repayment of the underlying mortgages. For purposes of the following table, the entire outstanding balance of these mortgage-backed securities issued by U.S. government corporations and agencies is categorized based on final maturity date. At March 31, 2020, the Company estimates the average remaining life of these mortgage-backed securities issued by U.S. government corporations and agencies to be approximately 3.24 years. Average remaining life is defined as the time span after which the principal balance has been reduced by half.

As of March 31, 2020, the contractual final maturity for available for sale and held to maturity investment securities is as follows:

Debt Securities	Available for Sale				Held to Maturity
(in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year	$	604	$	607	$	1,279	$	1,285
Due after one year through five years	18,264		18,958		—		—
Due after five years through ten years	114,545		103,673		22,271		23,136
Due after ten years	894,760		878,761		336,220		353,021
Totals	$	1,028,173	$	1,001,999	$	359,770	$	377,442

Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and

length of time that individual securities have been in a continuous unrealized loss position, were as follows:

	Less than 12 months				12 months or more				Total
March 31, 2020:	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
					(in thousands)
Debt Securities Available for Sale
Asset backed securities	$	166,612	$	(13,000)	$	248,222	$	(38,363)	$	414,834	$	(51,363)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	707	$	(4)	$	—	$	—	$	707	$	(4)

	Less than 12 months				12 months or more				Total
December 31, 2019:	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
					(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies	$	36,709	$	(309)	$	23,852	$	(111)	$	60,561	$	(420)
Obligations of states and political subdivisions	778		(1)		—		—		778		(1)
Asset backed securities	237,463		(4,535)		99,981		(2,378)		337,444		(6,913)
Total debt securities available for sale	$	274,950	$	(4,845)	$	123,833	$	(2,489)	$	398,783	$	(7,334)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	18,813		(142)		62,952		(338)		81,765		(480)
Total debt securities held to maturity	$	18,813	$	(142)	$	62,952	$	(338)	$	81,765	$	(480)

Obligations of U.S. government agencies: Unrealized losses on investments in obligations of U.S. government agencies are caused by interest rate increases and illiquidity. The contractual cash flows of these securities are guaranteed by U.S. Government Sponsored Entities (principally Fannie Mae and Freddie Mac). It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, these investments are not considered other-than-temporarily impaired. At March 31, 2020, one debt security representing obligations of U.S. government agencies had unrealized losses with aggregate depreciation of 0.56% from the Company’s amortized cost basis. The Company evaluates if a credit loss exists by monitoring to ensure it has adequate credit support and as of March 31, 2020, the Company believes there is no expected allowance for credit losses.

Asset backed securities: The unrealized losses on investments in asset backed securities were caused by increases in required yields by investors for these types of securities. At the time of purchase, each of these securities was rated AA or AAA and through March 31, 2020 has not experienced any deterioration in credit rating. At March 31, 2020, 15 asset backed securities had unrealized losses with aggregate depreciation of 11.02% from the Company’s amortized cost basis. The Company continues to monitor these securities for changes in credit rating or other indications of credit deterioration. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of March 31, 2020.

The Company monitors credit quality of debt securities held-to-maturity through the use of credit rating. The Company monitors the credit rating on a monthly basis. The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:

	March 31, 2020				December 31, 2019
	AAA/AA/A		BBB/BB/B		AAA/AA/A		BBB/BB/B
	(In thousands)				(In thousands)
Debt Securities Held to Maturity
Obligations of U.S. government agencies	$	345,944	$	—	$	361,785	$	—
Obligations of states and political subdivisions	13,137		689		13,136		685
Total debt securities held to maturity	$	359,081	$	689	$	374,921	$	685

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Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Components of Other Comprehensive Income (Loss) and Related Tax Effects

The components of other comprehensive income (loss) and related tax effects are as follows:

	Three months ended March 31,
(in thousands)	2020		2019
Unrealized holding gains (losses) on available for sale securities before reclassifications	$	(29,561)	$	12,710
Tax effect	8,739		(3,758)
Unrealized holding gains (losses) on available for sale securities, net of tax	(20,822)		8,952
Change in unfunded status of the supplemental retirement plans before reclassifications	448		(89)
Amounts reclassified out of accumulated other comprehensive income (loss):
Amortization of prior service cost	(14)		(13)
Amortization of actuarial losses	478		102
Total amounts reclassified out of accumulated other comprehensive income (loss)	464		89
Change in unfunded status of the supplemental retirement plans after reclassifications	912		—
Tax effect	—		—
Change in unfunded status of the supplemental retirement plans, net of tax	912		—
Total other comprehensive income (loss)	$	(19,910)	$	8,952

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive income (loss), included in shareholders’ equity, are as follows:

(in thousands)	March 31, 2020		December 31, 2019
Net unrealized gain (loss) on available for sale securities	$	(26,174)	$	3,387
Tax effect	7,738		(1,001)
Unrealized holding gain (loss) on available for sale securities, net of tax	(18,436)		2,386
Unfunded status of the supplemental retirement plans	(11,193)		(11,193)
Tax effect	3,309		3,309
Unfunded status of the supplemental retirement plans, net of tax	(7,884)		(7,884)
Joint beneficiary agreement liability	1,188		276
Tax effect	—		—
Joint beneficiary agreement liability, net of tax	1,188		276
Accumulated other comprehensive income (loss)	$	(25,132)	$	(5,222)

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Investment Securities - Amortized Cost and Estimated Fair Values of Investments Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,028,173	$ 946,751
Gross Unrealized Gains	25,189	10,721
Gross Unrealized Losses	(51,363)	(7,334)
Allowance for Credit Losses	0
Estimated Fair Value	1,001,999	950,138
Amortized Cost	359,770	375,606
Gross Unrealized Gains	17,676	6,399
Gross Unrealized Losses	(4)	(480)
Estimated Fair Value	377,442	381,525
Allowance for Credit Losses	0
Obligations of U.S. government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	447,736	466,139
Gross Unrealized Gains	21,482	7,261
Gross Unrealized Losses	0	(420)
Allowance for Credit Losses	0
Estimated Fair Value	469,218	472,980
Amortized Cost	345,944	361,785
Gross Unrealized Gains	17,352	6,072
Gross Unrealized Losses	(4)	(480)
Estimated Fair Value	363,292	367,377
Allowance for Credit Losses	0
Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	110,564	106,373
Gross Unrealized Gains	3,561	3,229
Gross Unrealized Losses	0	(1)
Allowance for Credit Losses	0
Estimated Fair Value	114,125	109,601
Amortized Cost	13,826	13,821
Gross Unrealized Gains	324	327
Gross Unrealized Losses	0	0
Estimated Fair Value	14,150	14,148
Allowance for Credit Losses	0
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,437	2,430
Gross Unrealized Gains	138	102
Gross Unrealized Losses	0	0
Allowance for Credit Losses	0
Estimated Fair Value	2,575	2,532
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	467,436	371,809
Gross Unrealized Gains	8	129
Gross Unrealized Losses	(51,363)	(6,913)
Allowance for Credit Losses	0
Estimated Fair Value	$ 416,081	$ 365,025

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Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Description of Business and Basis of Presentation

TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 29 California counties. The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp.

The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1,792,000 are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheet. The subordinated debentures issued and guaranteed by the Company and held by the Capital Trusts are reflected as debt on the Company’s consolidated balance sheet.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading.

Segment and Significant Group Concentration of Credit Risk

The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout northern and central California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking.

Geographical Descriptions

For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo.

Reclassification

Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’equity.

Cash and Cash Equivalents

Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents.

Allowance for Credit Losses - Held to Maturity Securities

The Company measures expected credit losses on held-to-maturity debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on held-to-maturity debt securities totaled $920,000 at March 31, 2020 and is excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current condition and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption. Management has separately evaluated its HTM investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. As a result of this evaluation, management determined that the expected credit losses associated with these securities is not significant for financial reporting purposes and therefore, no allowance for credit losses has been recognized.

Loans

Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses.

Allowance for Credit Losses - Loans

The allowance for credit losses (ACL) is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate.

Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels and U.S. gross domestic product.

A loan is considered to be collateral dependent when repayment is expected to be provided substantially through the operation or sale of the collateral. The ACL on collateral dependent loans is measured using the fair value of the underlying collateral, adjusted for costs to sell when applicable, less the amortized cost basis of the financial asset. If the value of underlying collateral is determined to be less than the recorded amount of the loan, a charge-off will be taken. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, is considered to be a troubled debt restructuring (TDR). The ACL on a TDR is measured using the same method as all other portfolio loans, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the ACL is determined by discounting the expected future cash flows at the original interest rate of the loan.

The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss:

One to four residential term loans: The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

Commercial mortgage loans:

Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five to ten years with amortization periods from fifteen to thirty years.

Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss.

Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment.

Consumer loans:

Home equity lines of credit (HELOC): Similar to residential real estate term loans, HELOC performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC.

Home equity loans: Similar to residential real estate term loans but secured by a deed of trust in a position that is junior to the primary lien holder.

Consumer - Automobile and other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by

rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate.

Commercial:

Commercial and industrial: Primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits.

Leases: The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above.

Agriculture: Repayment is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural loans may involve a greater degree of risk than other types of loans.

Construction: While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors.

Unfunded commitments: The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the balance sheet in other liabilities.

Accounting Standards Adopted in 2020

On January 1, 2020, the Company adopted ASU 2016-03 Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized costs, including loan receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in certain leases. In addition, ASC 326 made changes to the accounting for available for sale debt securities. One such change is to require increases or decreases in credit losses be presented as an allowance rather than as a write-down on available for sale debt securities, based on management's intent to sell the security or likelihood the Company will be required to sell the security, before recovery of the amortized cost basis.

The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for the reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (PCD) that were previously classified as purchase credit impaired (PCI) and accounted for under ASC 310-30. In accordance with the Standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. The remaining noncredit discount (based on the adjusted amortized costs basis) will be accreted into interest income at the effective interest rate as of adoption. The Company recognized an increase in the ACL for loans totaling $18,913,000, including a reclassification of $481,000 from discounts on acquired loans to the allowance for credit losses, as a cumulative effect adjustment from change in accounting policies, with a corresponding decrease in retained earnings, net of $5,449,000 in taxes

of $12,983,000. Management has separately evaluated its held-to-maturity investment securities from obligations of state and political subdivisions and determined that no loss reserves were required.

On January 1, 2020 the Company adopted ASU 2017-04, Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment (Topic 350), which eliminates step two of the goodwill impairment test (the hypothetical purchase price allocation used to determine the implied fair value of goodwill) when step one (determining if the carrying value of a reporting unit exceeds its fair value) is failed. Instead, entities simply will compare the fair value of a reporting unit to its carrying amount and record goodwill impairment for the amount by which the reporting unit’s carrying amount exceeds its fair value. There was no goodwill impairment recorded during the quarter ended March 31, 2020.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the Coronavirus Disease 2019 (COVID-19) pandemic. The CARES Act provides optional temporary relief from troubled debt restructuring and impairment accounting requirements for loan modifications related to the COVID-19 pandemic made during the period from March 1, 2020 to the earlier of December 31, 2020 or 60 days after the national emergency concerning COVID-19 declared by the President terminates. The election of any such suspension would be applicable for the term of the loan modification but solely with respect to any modification (including a forbearance arrangement, an interest rate modification, a repayment plan and any other similar arrangement that defers or delays the payment of principal or interest) that occurs during the applicable period for a loan that was not more than 30 days past due as of December 31, 2019. The ability to suspend TDR accounting does not apply to any adverse impact on the credit of a borrower that is not related to the COVID-19 pandemic nor does it apply to borrowers.

Accounting Standards Pending Adoption

FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The guidance also promotes consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU No. 2019-12 will be effective for the Company beginning January 1, 2021 and is not expected to have a significant impact on the Company’s consolidated financial statements.

FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform by providing optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected if certain criteria are met. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Amendments in this ASU are effective for the Company as of March 12, 2020 through December 31, 2022.

XML

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	May 08, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	000-10661
Entity Registrant Name	TriCo Bancshares
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	94-2792841
Entity Address, Address Line One	63 Constitution Drive
Entity Address, City or Town	Chico
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95973
City Area Code	530
Local Phone Number	898-0300
Title of 12(b) Security	Common Stock
Trading Symbol	TCBK
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,721,523
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000356171

XML

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 16,121	$ 22,726
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on available for sale securities arising during the period	(20,822)	8,952
Change in minimum pension liability	912	0
Other comprehensive income (loss)	(19,910)	8,952
Comprehensive income (loss)	$ (3,789)	$ 31,678

XML

Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2020

Allowance For Loan And Lease Losses [Abstract]

Summary of Activity in Allowance for Loan Losses, and Ending Balance of Loans, Net of Unearned Fees for Periods Indicated

The following tables summarize the activity in the allowance for credit losses on loans, and ending balance of loans, net of unearned fees for the periods indicated:

	Allowance for Loan Losses – Three Months Ended March 31, 2020
(in thousands)	Beginning Balance		Impact of CECL Adoption		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,306	$	2,675	$	—	$	410	$	259	$	5,650
Commercial	11,995		11,848		—		194		5,216		29,253
Total mortgage loans on real estate	14,301		14,523		—		604		5,475		34,903
Consumer:
Home equity lines of credit	5,572		4,549		—		33		369		10,523
Home equity loans	611		89		—		15		(42)		673
Other	1,595		971		(130)		94		216		2,746
Total consumer loans	7,778		5,609		(130)		142		543		13,942
Commercial	5,149		(2,152)		(380)		146		1,708		4,471
Construction:
Residential	630		189		—		—		5		824
Commercial	2,758		744		—		—		269		3,771
Total construction loans	3,388		933		—		—		274		4,595
Total	$	30,616	$	18,913	$	(510)	$	892	$	8,000	$	57,911

In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At both January 1, 2020, the adoption and implementation date of ASC Topic 326, and March 31, 2020, the Company utilized a reasonable and supportable forecast period of approximately eight quarters and obtained the forecast data from publicly available sources. The Company also considered the impact of portfolio concentrations, changes in underwriting practices, imprecision in its economic forecasts, and other risk factors that might influence its loss estimation process. During the quarter ended March 31, 2020 the levels of actual and forecasted California unemployment and gross domestic product continued to deteriorate and as a result, were the primary cause for the increase in allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2020 appropriately reflected expected credit losses inherent in the loan portfolio at that date.

	Allowance for Loan Losses – Year Ended December 31, 2019
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,676	$	(2)	$	54	$	(422)	$	2,306
Commercial	12,944		(746)		1,528		(1,731)		11,995
Total mortgage loans on real estate	15,620		(748)		1,582		(2,153)		14,301
Consumer:
Home equity lines of credit	6,042		—		504		(974)		5,572
Home equity loans	1,540		(3)		431		(1,357)		611
Other	793		(765)		321		1,246		1,595
Total consumer loans	8,375		(768)		1,256		(1,085)		7,778
Commercial	6,090		(2,123)		525		657		5,149
Construction:
Residential	464		—		—		166		630
Commercial	2,033		—		—		725		2,758
Total construction loans	2,497		—		—		891		3,388
Total	$	32,582	$	(3,639)	$	3,363	$	(1,690)	$	30,616

	Allowance for Loan Losses – Three Months Ended March 31, 2019
(in thousands)	Beginning Balance		Charge-offs		Recoveries		Provision (benefit)		Ending Balance
Mortgage loans on real estate:
Residential 1-4 family	$	2,676	$	—	$	2	$	(178)	$	2,500
Commercial	12,944		—		1,381		(1,995)		12,330
Total mortgage loans on real estate	15,620		—		1,383		(2,173)		14,830
Consumer:
Home equity lines of credit	6,042		—		95		(122)		6,015
Home equity loans	1,540		—		87		(341)		1,286
Other	793		(207)		75		379		1,040
Total consumer loans	8,375		(207)		257		(84)		8,341
Commercial	6,090		(519)		168		339		6,078
Construction:
Residential	464		—		—		84		548
Commercial	2,033		—		—		234		2,267
Total construction loans	2,497		—		—		318		2,815
Total	$	32,582	$	(726)	$	1,808	$	(1,600)	$	32,064

Schedule Credit Quality Indicators

Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated:

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Mortgage loans on real estate:
Residential 1-4 family risk ratings
Pass	$25,698	$102,369	$59,278	$69,504	$60,063	$179,461	—	$117	$496,490
Special Mention	—	—	—	868	18	2,953	—	105	3,944
Substandard	—	—	574	996	51	4,778	—	—	6,399
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total residential 1-4 family - mortgage loans	$25,698	$102,369	$59,852	$71,368	$60,132	$187,192	$—	$222	$506,833

Mortgage loans on real estate:
Commercial risk ratings
Pass	$82,428	$457,462	$364,082	$443,054	$407,011	$967,584	$102,830	$1,501	$2,825,952
Special Mention	70	2,288	—	7,618	11,562	10,722	12,588	—	44,848
Substandard	200	1,394	1,445	1,580	3,191	9,801	772	—	18,383
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial - mortgage loans	$82,698	$461,144	$365,527	$452,252	$421,764	$988,107	$116,190	$1,501	$2,889,183

Consumer loans:
Home equity line of credit risk ratings
Pass	$2,859	$8,591	$2,967	$714	$1,561	$10,815	$304,911	$627	$333,045
Special Mention	80	—	36	46	70	644	3,524	—	4,400
Substandard	—	—	57	529	80	1,078	2,266	6	4,016
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total home equity lines of credit - consumer loans	$2,939	$8,591	$3,060	$1,289	$1,711	$12,537	$310,701	$633	$341,461

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Consumer loans:
Home equity loans risk ratings
Pass	$2	$580	$290	$378	$673	$21,191	$500	$16	$23,630
Special Mention	—	—	19	—	—	906	—	—	925
Substandard	153	—	—	—	145	2,257	—	—	2,555
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total home equity loans - consumer loans	$155	$580	$309	$378	$818	$24,354	$500	$16	$27,110

Consumer loans:
Other risk ratings
Pass	$7,679	$40,454	$20,465	$6,221	$1,883	$1,787	$1,747	$1,407	$81,643
Special Mention	—	53	170	141	44	158	83	2	651
Substandard	—	59	—	12	11	35	16	—	133
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total other - consumer loans	$7,679	$40,566	$20,635	$6,374	$1,938	$1,980	$1,846	$1,409	$82,427

Commercial loans:
Commercial risk ratings
Pass	$15,616	$66,145	$32,209	$25,226	$10,041	$17,434	$112,189	$5,164	$284,024
Special Mention	—	—	75	539	149	110	604	700	2,177
Substandard	—	153	382	1,236	1,262	201	725	174	4,133
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial loans	$15,616	$66,298	$32,666	$27,001	$11,452	$17,745	$113,518	$6,038	$290,334

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020
	2020	2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Construction loans:
Residential risk ratings
Pass	$1,725	$15,703	$17,067	$0	$3,459	$0	$0	$0	$37,954
Special Mention	—	—	—	—	4,379	—	—	—	4,379
Substandard	—	—	—	—	—	—	—	—	—
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total residential - construction loans	$1,725	$15,703	$17,067	$0	$7,838	$0	$0	$0	$42,333

Construction loans:
Commercial risk ratings
Pass	$14,081	$35,515	$82,740	$43,455	$15,793	$5,709	$0	$0	$197,293
Special Mention	—	—	—	—	—	1,845	—	—	1,845
Substandard	—	—	—	—	—	243	—	—	243
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total commercial - construction loans	$14,081	$35,515	$82,740	$43,455	$15,793	$7,797	$0	$0	$199,381

Total loans:
Risk ratings
Pass	$150,088	$726,819	$579,098	$588,552	$500,484	$1,203,981	$522,177	$8,832	$4,280,031
Special Mention	150	2,341	300	9,212	16,222	17,338	16,799	807	63,169
Substandard	353	1,606	2,458	4,353	4,740	18,393	3,779	180	35,862
Doubtful/Loss	—	—	—	—	—	—	—	—	—
Total loans	$150,591	$730,766	$581,856	$602,117	$521,446	$1,239,712	$542,755	$9,819	$4,379,062

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Mortgage loans on real estate:
Residential 1-4 family risk ratings
Pass		$102,613	$63,542	$73,195	$65,050	$194,214	—	—	$498,614
Special Mention		—	—	1,408	19	3,287	—	—	4,714
Substandard		—	813	711	52	4,604	—	—	6,180
Doubtful/Loss		—	—	—	—	—	—	—	$0
Total residential 1-4 family - mortgage loans		$102,613	$64,355	$75,314	$65,121	$202,105	$—	$—	$509,508

Mortgage loans on real estate:
Commercial risk ratings
Pass	$446,597	$373,065	$421,901	$415,568	$1,010,057	$107,965	$748	$2,775,901
Special Mention	—	—	4,965	9,373	8,467	2,253	—	25,058
Substandard	830	1,454	1,591	3,216	9,937	795	—	17,823
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial - mortgage loans	$447,427	$374,519	$428,457	$428,157	$1,028,461	$111,013	$748	$2,818,782

Consumer loans:
Home equity line of credit risk ratings
Pass	$10,195	$3,436	$1,015	$1,729	$11,821	$297,458	$663	$326,317
Special Mention	—	11	47	31	665	3,398	37	4,189
Substandard	—	59	253	77	1,223	2,146	36	3,794
Doubtful/Loss	—	—	—	—	—	—	—	—
Total home equity lines of credit - consumer loans	$10,195	$3,506	$1,315	$1,837	$13,709	$303,002	$736	$334,300

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Consumer loans:
Home equity loans risk ratings
Pass		$607	$300	$382	$712	$22,655	$399	$37	$25,092
Special Mention		—	20	—	—	1,172	—	—	1,192
Substandard		—	—	—	156	2,146	—	—	2,302
Doubtful/Loss		—	—	—	—	—	—	—	—
Total home equity loans - consumer loans		$607	$320	$382	$868	$25,973	$399	$37	$28,586

Consumer loans:
Other risk ratings
Pass	$45,675	$23,014	$7,176	$2,245	$2,099	$1,602	$3	$81,814
Special Mention	56	182	176	52	172	81	—	719
Substandard	60	—	13	1	45	1	3	123
Doubtful/Loss	—	—	—	—	—	—	—	—
Total other - consumer loans	$45,791	$23,196	$7,365	$2,298	$2,316	$1,684	$6	$82,656

Commercial loans:
Commercial risk ratings
Pass	$77,614	$37,411	$27,195	$11,906	$17,806	$100,098	$3,623	$275,653
Special Mention	—	339	1,236	167	164	1,921	—	3,827
Substandard	—	48	1,481	1,646	393	611	48	4,227
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial loans	$77,614	$37,798	$29,912	$13,719	$18,363	$102,630	$3,671	$283,707

(in thousands)	Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019
		2019	2018	2017	2016	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Construction loans:
Residential risk ratings
Pass		$18,516	$12,990	$0	$3,319	$0	$6,230	$889	$41,944
Special Mention		—	—	—	4,202	—	—	—	4,202
Substandard		—	—	—	—	—	—	—	—
Doubtful/Loss		—	—	—	—	—	—	—	—
Total residential - construction loans		$18,516	$12,990	$0	$7,521	$0	$6,230	$889	$46,146

Construction loans:
Commercial risk ratings
Pass	$31,031	$72,339	$76,043	$15,654	$7,322	$975	$0	$203,364
Special Mention	—	—	—	—	317	—	—	317
Substandard	—	—	—	—	—	—	—	—
Doubtful/Loss	—	—	—	—	—	—	—	—
Total commercial - construction loans	$31,031	$72,339	$76,043	$15,654	$7,639	$975	$0	$203,681

Total loans:
Risk ratings
Pass	$732,848	$586,097	$606,907	$516,183	$1,265,974	$514,727	$5,963	$4,228,699
Special Mention	56	552	7,832	13,844	14,244	7,653	37	44,218
Substandard	890	2,374	4,049	5,148	18,348	3,553	87	34,449
Doubtful/Loss	—	—	—	—	—	—	—	—
Total loans	$733,794	$589,023	$618,788	$535,175	$1,298,566	$525,933	$6,087	$4,307,366

Analysis of Past Due Loans

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of March 31, 2020
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Mortgage loans on real estate:
Residential 1-4 family	$	699	$	—	$	1,763	$	2,462	$	504,371	$	506,833
Commercial	18,445		1,283		2,675		22,403		2,866,780		2,889,183
Total mortgage loans on real estate	19,144		1,283		4,438		24,865		3,371,151		3,396,016
Consumer:
Home equity lines of credit	572		85		1,118		1,775		339,686		341,461
Home equity loans	200		64		193		457		26,653		27,110
Other	100		12		114		226		82,201		82,427
Total consumer loans	872		161		1,425		2,458		448,540		450,998
Commercial	1,014		932		70		2,016		288,318		290,334
Construction:
Residential	—		—		—		—		42,333		42,333
Commercial	—		—		—		—		199,381		199,381
Total construction loans	—		—		—		—		241,714		241,714
Total originated loans	$	21,030	$	2,376	$	5,933	$	29,339	$	4,349,723	$	4,379,062

The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

	Analysis of Past Due Loans - As of December 31, 2019
(in thousands)	30-59 days		60-89 days		> 90 days		Total Past Due Loans		Current		Total
Mortgage loans on real estate:
Residential 1-4 family	$	1,149	$	371	$	1,957	$	3,477	$	506,031	$	509,508
Commercial	581		136		2,431		3,148		2,815,634		2,818,782
Total mortgage loans on real estate	1,730		507		4,388		6,625		3,321,665		3,328,290
Consumer:
Home equity lines of credit	1,083		363		956		2,402		331,898		334,300
Home equity loans	175		216		132		523		28,063		28,586
Other	172		1		23		196		82,460		82,656
Total consumer loans	1,430		580		1,111		3,121		442,421		445,542
Commercial	652		298		24		974		282,733		283,707
Construction:
Residential	—		—		—		—		46,146		46,146
Commercial	—		—		—		—		203,681		203,681
Total construction loans	—		—		—		—		249,827		249,827
Total loans	$	3,812	$	1,385	$	5,523	$	10,720	$	4,296,646	$	4,307,366

Schedule of Non Accrual Loans

The following table shows the ending balance of non accrual loans by loan category as of the date indicated:

	Non Accrual Loans
	As of March 31, 2020						As of December 31, 2019
(in thousands)	Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing		Non accrual with no allowance for credit losses		Total non accrual		Past due 90 days or more and still accruing
Mortgage loans on real estate:
Residential 1-4 family	$	5,169	$	5,784	$	—	$	5,023	$	5,192	$	—
Commercial	5,451		5,514		—		5,316		5,316		—
Total mortgage loans on real estate	10,620		11,298		—		10,339		10,508		—
Consumer:
Home equity lines of credit	2,760		3,210		—		2,419		2,590		—
Home equity loans	1,523		1,654		—		1,574		1,626		—
Other	—		140		—		4		51		11
Total consumer loans	4,283		5,004				3,997		4,267		11
Commercial	298		1,653		—		489		2,089		—
Construction:
Residential	—		—		—		—		—		—
Commercial	—		—		—		—		—		—
Total construction	—		—		—		—		—		—
Total non accrual loans	$	15,201	$	17,955	$	—	$	14,825	$	16,864	$	11

Interest income on non accrual loans that would have been recognized during the three months ended March 31, 2020 and 2019, if all such loans had been current in accordance with their original terms, totaled $431,000 and $400,000, respectively. Interest income actually recognized on these originated loans during the three months ended March 31, 2020 and 2019 was $47,000 and $93,000, respectively.

Amortized Cost Basis of Collateral Dependent Loans, By Class of Loan

The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods:

	As of March 31, 2020
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Unsecured		Total
Mortgage loans on real estate:
Residential 1-4 family	$	—	$	—	$	—	$	—	$	—	$	—	$	5,815	$	—	$	—	$	—	$	—	$	—	$	5,815
Commercial	2,483		161		1,866		506		2,060		1,203		—		—		—		—		—		—		8,279
Total mortgage loans on real estate	2,483		161		1,866		506		2,060		1,203		5,815		—		—		—		—		—		14,094
Consumer:
Home equity lines of credit	—		—		—		—		—		—		—		1,936		—		—		—		—		1,936
Home equity loans	—		—		—		—		—		—		—		2,106		—		—		—		—		2,106
Other	—		—		—		—		—		156		47		—		127		—		—		4		334
Total consumer loans	—		—		—		—		—		156		47		4,042		127		—		—		4		4,376
Commercial	—		—		—		—		—		—		—		—		—		1,824		1,012		116		2,952
Total collateral dependent loans	$	2,483	$	161	$	1,866	$	506	$	2,060	$	1,359	$	5,862	$	4,042	$	127	$	1,824	$	1,012	$	120	$	21,422

	As of December 31, 2019
(in thousands)	Retail		Office		Warehouse		Other		Multifamily		Farmland		SFR -1st Deed		SFR -2nd Deed		Automobile/Truck		A/R and Inventory		Equipment		Unsecured		Total
Mortgage loans on real estate:
Residential 1-4 family	$	—	$	—	$	—	$	—	$	—	$	—	$	5,293	$	—	$	—	$	—	$	—	$	—	$	5,293
Commercial	2,506		163		1,640		509		2,060		1,242		—		—		—		—		—		—		8,120
Total mortgage loans on real estate	2,506		163		1,640		509		2,060		1,242		5,293		—		—		—		—		—		13,413
Consumer:
Home equity lines of credit	—		—		—		—		—		—		—		1,808		—		—		—		—		1,808
Home equity loans	—		—		—		—		—		—		—		2,040		—		—		—		—		2,040
Other	—		—		—		—		—		—		48		—		27		—		—		4		79
Total consumer loans	—		—		—		—		—		—		48		3,848		27		—		—		4		3,927
Commercial	—		—		—		—		—		—		—		—		—		1,952		1,026		107		3,085
Total collateral dependent loans	$	2,506	$	163	$	1,640	$	509	$	2,060	$	1,242	$	5,341	$	3,848	$	27	$	1,952	$	1,026	$	111	$	20,425

Troubled Debt Restructurings

The following tables show certain information regarding TDRs that occurred during the periods indicated:

	TDR Information for the three months ended March 31, 2020
(dollars in thousands)	Number	Pre-mod outstanding principal balance		Post-mod outstanding principal balance		Financial impact due to TDR taken as additional provision		Number that defaulted during the period	Recorded investment of TDRs that defaulted during the period		Financial impact due to the default of previous TDR taken as charge- offs or additional provisions
Mortgage loans on real estate:
Residential 1-4 family	—	$	—	$	—	$	—	1	$	302	$	—
Commercial	3	487		549		—		—	—		—
Total mortgage loans on real estate	3	487		549		—		1	302		—
Consumer:
Home equity lines of credit	—	—		—		—		—	—		—
Home equity loans	2	172		169		—		—	—		—
Other	—	—		—		—		—	—		—
Total consumer loans	2	172		169		—		—	—		—
Commercial	1	21		20		21		—	—		—
Construction:
Residential	—	—		—		—		—	—		—
Commercial	—	—		—		—		—	—		—
Total construction loans	—	—		—		—		—	—		—
Total	6	$	680	$	738	$	21	1	$	302	$	—

	TDR Information for the three months ended March 31, 2019
(dollars in thousands)	Number	Pre-mod outstanding principal balance		Post-mod outstanding principal balance		Financial impact due to TDR taken as additional provision		Number that defaulted during the period		Recorded investment of TDRs that defaulted during the period		Financial impact due to the default of previous TDR taken as charge- offs or additional provisions
Mortgage loans on real estate:
Residential 1-4 family	—	$	163	$	162	$	—	$	—	$	—	$	—
Commercial	—	—		—		—		—		—		—
Total mortgage loans on real estate	1	163		162		—		—		—		—
Consumer:
Home equity lines of credit	—	—		—		—		—		—		—
Home equity loans	1	121		120		1		—		—		—
Other	—	—		—		—		—		—		—
Total consumer loans	1	121		120		1		—		—		—
Commercial	2	15		15		—		1		7		—
Construction:
Residential	—	—				—		—		—		—
Commercial	—	—				—		—		—		—
Total construction loans	—	—		—		—		—		—		—
Total	4	$	299	$	297	$	1	1		$	7	$	—

XML

Regulatory Matters

3 Months Ended

Mar. 31, 2020

Banking and Thrift [Abstract]

Regulatory Matters

Regulatory Matters

The Company is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1, and common equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. The following tables present actual and required capital ratios as of March 31, 2020 and December 31, 2019 for the Company and the Bank under applicable Basel III Capital Rules. The minimum capital amounts presented include the minimum required capital levels as of March 31, 2020 and December 31, 2019 based on the then phased-in provisions of the Basel III Capital Rules. As of January 1, 2019, the minimum required capital levels of the Basel III Capital Rules have been fully phased-in. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules.

	Actual				Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of March 31, 2020:	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	762,763	15.12	%	$	529,576	10.50	%	N/A		N/A
Tri Counties Bank	$	755,893	14.99	%	$	529,388	10.50	%	$	504,179	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	702,007	13.92	%	$	428,705	8.50	%	N/A		N/A
Tri Counties Bank	$	695,137	13.79	%	$	428,552	8.50	%	$	403,343	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	646,407	12.82	%	$	353,051	7.00	%	N/A		N/A
Tri Counties Bank	$	695,137	13.79	%	$	352,925	7.00	%	$	327,716	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	702,007	11.22	%	$	250,216	4.00	%	N/A		N/A
Tri Counties Bank	$	695,137	11.11	%	$	250,209	4.00	%	$	312,762	5.00	%

	Actual					Required for Capital Adequacy Purposes				Required to be Considered Well Capitalized
As of December 31, 2019:	Amount		As of :	Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
Total Capital (to Risk Weighted Assets):
Consolidated	$	753,200		15.07	%	$	524,944	10.50	%	N/A		N/A
Tri Counties Bank	$	748,660		14.98	%	$	524,759	10.50	%	$	499,770	10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	719,809		14.40	%	$	424,955	8.50	%	N/A		N/A
Tri Counties Bank	$	715,269		14.31	%	$	424,805	8.50	%	$	399,816	8.00	%
Common equity Tier 1 Capital (to Risk Weighted Assets):
Consolidated	$	664,296		13.29	%	$	349,963	7.00	%	N/A		N/A
Tri Counties Bank	$	715,269		14.31	%	$	349,839	7.00	%	$	324,851	6.50	%
Tier 1 Capital (to Average Assets):
Consolidated	$	719,809		11.55	%	$	249,343	4.00	%	N/A		N/A
Tri Counties Bank	$	715,269		11.47	%	$	249,337	4.00	%	$	311,672	5.00	%

As of March 31, 2020 and December 31, 2019, capital levels at the Company and the Bank exceed all capital adequacy requirements under the Basel III Capital Rules. Also, at March 31, 2020 and December 31, 2019, the Bank’s capital levels exceeded the minimum amounts necessary to be considered well capitalized under the current regulatory framework for prompt corrective action.

The Basel III Capital Rules require for all banking organizations to maintain a capital conservation buffer above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer is exclusively composed of common equity tier 1 capital, and it applies to each of the risk-based capital ratios but not the leverage ratio. At March 31, 2020, the Company and the Bank are in compliance with the capital conservation buffer requirement.

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Allowance for Credit Losses - Summary of Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 30,616	$ 32,582	$ 32,582
Charge-offs	(510)	(726)	(3,639)
Recoveries	892	1,808	3,363
Provision (benefit)	8,000	(1,600)	(1,690)
Ending balance	57,911	32,064	30,616
Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	18,913
Ending balance			18,913
Mortgage Loans on Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	14,301	15,620	15,620
Charge-offs	0	0	(748)
Recoveries	604	1,383	1,582
Provision (benefit)	5,475	(2,173)	(2,153)
Ending balance	34,903	14,830	14,301
Mortgage Loans on Real Estate | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	14,523
Ending balance			14,523
Mortgage Loans on Real Estate | Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	11,995	12,944	12,944
Charge-offs	0	0	(746)
Recoveries	194	1,381	1,528
Provision (benefit)	5,216	(1,995)	(1,731)
Ending balance	29,253	12,330	11,995
Mortgage Loans on Real Estate | Commercial | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	11,848
Ending balance			11,848
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	7,778	8,375	8,375
Charge-offs	(130)	(207)	(768)
Recoveries	142	257	1,256
Provision (benefit)	543	(84)	(1,085)
Ending balance	13,942	8,341	7,778
Consumer | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	5,609
Ending balance			5,609
Consumer | Home equity lines of credit
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	5,572	6,042	6,042
Charge-offs	0	0	0
Recoveries	33	95	504
Provision (benefit)	369	(122)	(974)
Ending balance	10,523	6,015	5,572
Consumer | Home equity lines of credit | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	4,549
Ending balance			4,549
Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	5,149	6,090	6,090
Charge-offs	(380)	(519)	(2,123)
Recoveries	146	168	525
Provision (benefit)	1,708	339	657
Ending balance	4,471	6,078	5,149
Commercial | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	(2,152)
Ending balance			(2,152)
Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	3,388	2,497	2,497
Charge-offs	0	0	0
Recoveries	0	0	0
Provision (benefit)	274	318	891
Ending balance	4,595	2,815	3,388
Construction | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	933
Ending balance			933
Construction | Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,758	2,033	2,033
Charge-offs	0	0	0
Recoveries	0	0	0
Provision (benefit)	269	234	725
Ending balance	3,771	2,267	2,758
Construction | Commercial | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	744
Ending balance			744
Construction | Residential
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	630	464	464
Charge-offs	0	0	0
Recoveries	0	0	0
Provision (benefit)	5	84	166
Ending balance	824	548	630
Construction | Residential | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	189
Ending balance			189
Residential 1-4 family | Mortgage Loans on Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,306	2,676	2,676
Charge-offs	0	0	(2)
Recoveries	410	2	54
Provision (benefit)	259	(178)	(422)
Ending balance	5,650	2,500	2,306
Residential 1-4 family | Mortgage Loans on Real Estate | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,675
Ending balance			2,675
Home equity loans | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	611	1,540	1,540
Charge-offs	0	0	(3)
Recoveries	15	87	431
Provision (benefit)	(42)	(341)	(1,357)
Ending balance	673	1,286	611
Home equity loans | Consumer | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	89
Ending balance			89
Other | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,595	793	793
Charge-offs	(130)	(207)	(765)
Recoveries	94	75	321
Provision (benefit)	216	379	1,246
Ending balance	2,746	$ 1,040	1,595
Other | Consumer | Impact of CECL Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 971
Ending balance			$ 971

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Allowance for Credit Losses - Schedule of Non Accrual Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	$ 15,201	$ 14,825
Nonaccrual loans	17,955	16,864
Past due 90 days or more and still accruing	0	11
Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	10,620	10,339
Nonaccrual loans	11,298	10,508
Past due 90 days or more and still accruing	0	0
Consumer
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	4,283	3,997
Nonaccrual loans	5,004	4,267
Past due 90 days or more and still accruing		11
Commercial
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	298	489
Nonaccrual loans	1,653	2,089
Past due 90 days or more and still accruing	0	0
Construction
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	0	0
Nonaccrual loans	0	0
Past due 90 days or more and still accruing	0	0
Residential 1-4 family | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	5,169	5,023
Nonaccrual loans	5,784	5,192
Past due 90 days or more and still accruing	0	0
Home equity loans | Consumer
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	1,523	1,574
Nonaccrual loans	1,654	1,626
Past due 90 days or more and still accruing	0	0
Other | Consumer
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	0	4
Nonaccrual loans	140	51
Past due 90 days or more and still accruing	0	11
Commercial | Mortgage Loans on Real Estate
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	5,451	5,316
Nonaccrual loans	5,514	5,316
Past due 90 days or more and still accruing	0	0
Commercial | Construction
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	0	0
Nonaccrual loans	0	0
Past due 90 days or more and still accruing	0	0
Home equity lines of credit | Consumer
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	2,760	2,419
Nonaccrual loans	3,210	2,590
Past due 90 days or more and still accruing	0	0
Residential | Construction
Financing Receivable, Past Due [Line Items]
Non accrual with no allowance for credit losses	0	0
Nonaccrual loans	0	0
Past due 90 days or more and still accruing	$ 0	$ 0

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Fair Value Measurement - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020 USD ($) investment_security
Fair Value Disclosures [Abstract]
Number of investment securities classified as level 3 (in investment securities) | investment_security	0
Carrying value of loans fully charged-off | $	$ 0

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Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (12,983,000)
Common Stock [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	543,998,000
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	354,811,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(12,983,000)
AOCI Attributable to Parent [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ (5,222,000)

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Non-interest Income and Expense - Components of Non Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Income and Expenses [Abstract]
Base salaries, net of deferred loan origination costs	$ 17,623	$ 16,757
Incentive compensation	3,101	2,567
Benefits and other compensation costs	6,548	5,804
Total salaries and benefits expense	27,272	25,128
Occupancy	3,875	3,774
Data processing and software	3,367	3,349
Equipment	1,512	1,867
Intangible amortization	1,431	1,431
Advertising	665	1,331
ATM and POS network charges	1,373	1,323
Professional fees	703	839
Telecommunications	725	797
Regulatory assessments and insurance	95	511
Postage	290	310
Operational losses	221	225
Courier service	331	270
Gain on sale of foreclosed assets	(41)	(99)
Loss on disposal of fixed assets	0	24
Other miscellaneous expense	3,000	4,372
Total other non-interest expense	17,547	20,324
Total non-interest expense	$ 44,819	$ 45,452

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Stock Options and Other Equity-Based Incentive Instruments - Stock Option Activity (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at December 31, 2019 (in shares)	160,500
Options granted (in shares)	0
Options exercised (in shares)	(8,000)
Options forfeited (in shares)	0
Options outstanding at March 31, 2020 (in shares)	152,500
Share based compensation arrangements by share based payment award options outstanding option price per share of options granted (in USD per share)	$ 0
Share based compensation arrangements by share based payment award options outstanding option price per share of options forfeited (in USD per share)	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted Average Exercise Price at December 31, 2019 (in USD per share)	17.60
Weighted Average Exercise Price of Options Granted (in USD per share)	0
Weighted Average Exercise Price of Options Exercised (in USD per share)	18.50
Weighted Average Exercise Price of Options Forfeited (in USD per share)	0
Weighted Average Exercise Price at March 31, 2020 (in USD per share)	17.55
Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Share based compensation arrangements by share based payment award options outstanding option price per share (in USD per share)	14.54	$ 14.54
Share based compensation arrangements by share based payment award options outstanding option price per share of options exercised (in USD per share)	17.54
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Share based compensation arrangements by share based payment award options outstanding option price per share (in USD per share)	23.21	$ 23.21
Share based compensation arrangements by share based payment award options outstanding option price per share of options exercised (in USD per share)	$ 19.46