CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Statement of Financial Position [Abstract] | ||
Investment securities, held to maturity, fair value | $ 204,158 | $ 175,175 |
Preferred Stock, par value (in dollar per share) | $ 0.01 | $ 0.01 |
Preferred Stock, shares authorized | 3,000,000 | 3,000,000 |
Preferred Stock, shares outstanding | 0 | 0 |
Preferred Stock, shares issued | 0 | 0 |
Common Stock, par value (in dollar per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized | 90,000,000 | 90,000,000 |
Common Stock, shares issued | 16,851,878 | 16,790,573 |
Common Stock, shares outstanding | 16,851,878 | 16,790,573 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Statement of Comprehensive Income [Abstract] | ||
Net Income attributable to common shareowners | $ 9,506 | $ 4,287 |
Other comprehensive income, before tax: | ||
Change in net unrealized gain (loss) on securities available for sale | (1,952) | 3,547 |
Change in net unrealized gain (loss) on effective cash flow derivative | 2,125 | 0 |
Benefit Plans: | ||
Reclassification adjustment for amortization of prior year service cost | 24 | 0 |
Current year actuarial gain | 166 | 0 |
Total Benefit Plans | 190 | 0 |
Other comprehensive (loss) income, before tax | 363 | 3,547 |
Deferred tax (benefit) expense related to other comprehensive income | 92 | 899 |
Other comprehensive (loss) income, net of tax | 271 | 2,648 |
Total comprehensive income attributable to common shareowners | $ 9,777 | $ 6,935 |
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY (Parenthetical) - $ / shares |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Statement of Stockholders' Equity [Abstract] | ||
Cash Dividends (in dollars per share) | $ 0.15 | $ 0.14 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ 9,506 | $ 4,287 |
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities: | ||
Provision for Credit Losses | (982) | 4,990 |
Depreciation | 1,942 | 1,623 |
Amortization of Premiums, Discounts and Fees, net | 2,428 | 1,643 |
Originations of Loans Held-for-Sale | (470,248) | (150,840) |
Proceeds From Sales of Loans Held for Sale | 519,331 | 80,781 |
Net Gain From Sales of Loans Held-for-Sale | (17,125) | (3,030) |
Net Additions for Capitalized Mortgage Servicing Rights | 119 | 0 |
Change in Valuation Provision for Mortgage Servicing Rights | (250) | 0 |
Stock Compensation | 219 | 291 |
Net Tax Benefit From Stock-Based Compensation | (4) | (84) |
Deferred Income Taxes | (378) | (511) |
Net change in operating leases | (41) | 192 |
Net (Gain) Loss on Sales and Write-Downs of Other Real Estate Owned | (202) | (931) |
Net Increase in Other Assets | (1,370) | (20,255) |
Net Increase in Other Liabilities | 7,935 | 26,646 |
Net Cash (Used In) Provided By Operating Activities | 50,880 | (55,198) |
Securities Held to Maturity: | ||
Purchases | (54,382) | (32,250) |
Payments, Maturities, and Calls | 24,629 | 19,370 |
Securities Available for Sale: | ||
Purchases | (133,628) | (26,795) |
Payments, Maturities, and Calls | 49,349 | 50,347 |
Purchases of Loans Held for Investment | (23,686) | (2,756) |
Net Increase in Loans Held for Investment | (29,437) | (22,191) |
Net Cash Paid For Brand Acquisition | 0 | (2,405) |
Proceeds From Sales of Other Real Estate Owned | 1,084 | 1,155 |
Purchases of Premises and Equipment | (1,592) | (4,773) |
Noncontrolling Interest Contributions | 1,259 | 0 |
Net Cash Used In Investing Activities | (166,404) | (20,298) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net Increase (Decrease) in Deposits | 140,548 | (99,869) |
Net Increase (Decrease) in Short-Term Borrowings | (24,181) | 70,018 |
Repayment of Other Long-Term Borrowings | (1,014) | (524) |
Dividends Paid | (2,528) | (2,357) |
Payments to Repurchase Common Stock | 0 | (708) |
Issuance of Common Stock Under Purchase Plans | 33 | 125 |
Net Cash Provided By (Used In) Financing Activities | 112,858 | (33,315) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (2,666) | (108,811) |
Cash and Cash Equivalents at Beginning of Period | 928,549 | 378,423 |
Cash and Cash Equivalents at End of Period | 925,883 | 269,612 |
Supplemental Cash Flow Disclosures: | ||
Interest Paid | 1,009 | 1,562 |
Noncash Investing and Financing Activities: | ||
Loans Transferred to Other Real Estate Owned | $ 184 | $ 734 |
BUSINESS AND BASIS OF PRESENTATION |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Business and Basis of Presentation [Abstract] | |
Business and Basis of Presentation | NOTE 1 – BUSINESS AND BASIS OF PRESENTATION Nature of Operations . related services to individual and corporate clients through Georgia, and Alabama. government agencies and undergoes periodic Basis of Presentation . and its wholly owned subsidiary, have been eliminated. The accompanying unaudited consolidated financial statements principles for interim financial information and with they do not include all of the information and footnotes required statements. presentation have been included. The consolidated statement of financial condition at statements at that date, but does not include all of the for complete financial statements. included in the Company’s Accounting Standards Updates ASU 2020-04, "Reference Rate Reform ASU 2020-04 provides optional expedients and exceptions for applying to loan and lease agreements, derivative contracts, and toward new interest rate benchmarks. For transactions guidance (i) modifications of loan agreements should modification will be considered "minor" so that any existing be amortized and (ii) modifications of lease agreements reassessments of the lease classification and the discount for modifications not accounted for as separate accounting. contract modifications as of January 1, 2020, or prospectively March 12, 2020, up to the date that the financial statements Subtopic within the Codification, the amendments in this that Topic or Industry (yet to be determined) and December 31, 2022 that are continuation of the contract, rather than extinguishment of ASU 2021-01, “Reference Rate Reform clarifies that certain optional expedients and exceptions contract modifications and hedge accounting apply amends the expedients and exceptions in ASC 848 to existing guidance to derivative instruments. ASU will have material effects on the Company’s |
INVESTMENT SECURITIES |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Investments Securities [Abstract] | |
Investment securities | NOTE 2 – INVESTMENT SECURITIES Investment Portfolio Composition . The following table summarizes the amortized cost and related securities available-for-sale and securities held March 31, 2021 December 31, 2020 Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market Cost Gains Losses Value Cost Gain Losses Value Available for U.S. Government Treasury $ 173,029 $ 551 $ 464 $ 173,116 $ 103,547 $ 972 $ - $ 104,519 U.S. Government Agency 220,018 2,096 584 221,530 205,972 2,743 184 208,531 States and Political Subdivisions 4,244 73 9 4,308 3,543 89 - 3,632 Mortgage-Backed Securities 440 56 - 496 456 59 - 515 Equity Securities (1) 6,795 - - 6,795 7,673 - - 7,673 Total $ 404,526 $ 2,776 $ 1,057 $ 406,245 $ 321,191 $ 3,863 $ 184 $ 324,870 Held to Maturity U.S. Government Treasury $ - $ - $ - $ - $ 5,001 $ 13 $ - $ 5,014 Mortgage-Backed Securities 199,109 5,358 309 204,158 164,938 5,223 - 170,161 Total $ 199,109 $ 5,358 $ 309 $ 204,158 $ 169,939 $ 5,236 $ - $ 175,175 Total Investment $ 603,635 $ 8,134 $ 1,366 $ 610,403 $ 491,130 $ 9,099 $ 184 $ 500,045 (1) Includes Federal Home Loan Bank and Federal Reserve Bank 2.0 4.8 respectively, 2.9 million and $ 4.8 Securities with an amortized cost of $ 351.1 308.2 pledged to secure public deposits and for other purposes. The Bank, as a member of the Federal Home Loan Bank generally upon the balances of residential and commercial equity securities, is pledged to secure FHLB advances. however, redemption of this stock As a member of the Federal Reserve Bank of Atlanta, based on a specified ratio relative to the Bank’s Maturity Distribution . contractual maturity. prepay obligations. because they are not due at a certain maturity date. Available for Held to Maturity (Dollars in Thousands) Amortized Cost Market Value Amortized Cost Market Value Due in one year or less $ 77,464 $ 77,741 $ - $ - Due after one year through five years 138,352 137,981 - - Due after five year through ten years 989 989 - - Mortgage-Backed Securities 440 496 199,109 204,158 U.S. Government Agency 180,486 182,243 - - Equity Securities 6,795 6,795 - - Total $ 404,526 $ 406,245 $ 199,109 $ 204,158 Unrealized Losses on Investment Securities. unrealized losses aggregated by major security type Less Than Greater Than 12 Months 12 Months Total Market Unrealized Market Unrealized Market Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses March 31, 2021 Available for U.S. Government Treasury $ 65,577 $ 464 $ - $ - $ 65,577 $ 464 U.S. Government Agency 63,630 554 4,778 30 68,408 584 States and Political Subdivisions 744 9 - - 744 9 Total 129,951 1,027 4,778 30 134,729 1,057 Held to Maturity Mortgage-Backed Securities 20,550 309 - - 20,550 309 Total $ 20,550 $ 309 $ - $ - $ 20,550 $ 309 December 31, 2020 Available for U.S. Government Agency $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 Total $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 At March 31, 2021, there were 89 1.4 87 were U.S. government agency securities issued by U.S. government two Because the declines in the market value of these securities because the Company had the ability and intent to hold maturity, the no t record any allowance for credit losses on any investment no ne of the securities held by the Company were past due or Credit Quality Indicators The Company monitors the credit quality of its investment monitoring of credit ratings. government entity or agency and are either explicitly long history of no credit losses on these securities indicates that even if the U.S. government were to technically refunded and secured by government guaranteed treasuries. assess or record expected credit losses due to the zero securities portfolio via credit ratings which are updated unrealized loss position are evaluated to determine if is needed. |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Loans Held For Investment And Allowance For Credit Losses [Abstract] | |
Loans held for investment and allowance for credit losses | NOTE 3 – LOANS HELD FOR INVESTMENT AND ALLOWANCE Loan Portfolio Composition . (Dollars in Thousands) March 31, 2021 December 31, 2020 Commercial, Financial and Agricultural $ 413,819 $ 393,930 Real Estate – Construction 138,104 135,831 Real Estate – Commercial Mortgage 669,158 648,393 Real Estate – Residential (1) 365,931 352,543 Real Estate – Home Equity 202,099 205,479 Consumer (2) 268,616 270,250 Loans HFI, Net of Unearned Income $ 2,057,727 $ 2,006,426 (1) Includes loans in process with outstanding 8.3 10.9 respectively. (2) Includes overdraft balances of $ 0.9 0.7 Net deferred fees, which include premiums on purchased 1.6 0.1 million at December 31, 2020. Accrued interest receivable on loans which is excluded 7.2 6.9 December 31, 2020, and is reported separately in Other The Company has pledged a blanket floating lien on all 1-4 and home equity loans to support available borrowing consumer loans, commercial loans, and construction loans Atlanta. Loan Purchases . Capital City Home Loans, a related party. 22.2 31, 2021, and were not credit impaired. Allowance for Credit Losses . ASC 326 (“CECL”), component involving loans that do not share risk characteristics loans; and second, a pooled component for expected credit allowance methodology is discussed further in Note 1 Company’s 2020 Form The following table details the activity in the allowance allowance to one category of loans does not preclude Commercial, Real Estate Financial, Real Estate Commercial Real Estate Real Estate (Dollars in Thousands) Agricultural Construction Mortgage Residential Home Equity Consumer Total Three Months Ended March 31, 2021 Beginning Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 Provision for Credit Losses (314) (225) (718) (305) (655) (95) (2,312) Charge-Offs (69) - - (6) (5) (1,056) (1,136) Recoveries 136 - 645 75 124 678 1,658 Net Recoveries 67 - 645 69 119 (378) 522 Ending Balance $ 1,957 $ 2,254 $ 6,956 $ 5,204 $ 2,575 $ 3,080 $ 22,026 Three Months Ended March 31, 2020 Beginning Balance $ 1,675 $ 370 $ 3,416 $ 3,128 $ 2,224 $ 3,092 $ 13,905 Impact of Adopting ASC 326 488 302 1,458 1,243 374 (596) 3,269 Provision for Credit Losses 406 567 774 1,704 101 1,438 4,990 Charge-Offs (362) - (11) (110) (31) (1,566) (2,080) Recoveries 40 - 191 40 33 695 999 Net Charge-Offs (322) - 180 (70) 2 (871) (1,081) Ending Balance $ 2,247 $ 1,239 $ 5,828 $ 6,005 $ 2,701 $ 3,063 $ 21,083 For the first three months ended March 31, 2021, the allowance 1.8 2.3 million and net loan recoveries of $ 0.5 a lower rate of unemployment and its potential effect estimate probability of default and were weighted based unprecedented fiscal stimulus, including direct payments government sponsored loan programs, was also considered. allowance for off-balance sheet credit commitments. Loan Portfolio Aging. A loan is defined as a past due loan when one full payment is past past due (“DPD”). The following table presents the aging of the amortized cost 30-59 60-89 90 + Total Total Nonaccrual Total (Dollars in Thousands) DPD DPD DPD Past Due Current Loans Loans March 31, 2021 Commercial, Financial and Agricultural $ 55 $ 58 $ - $ 113 $ 413,556 $ 150 $ 413,819 Real Estate – Construction 565 - - 565 137,360 179 138,104 Real Estate – Commercial Mortgage 183 - - 183 667,719 1,256 669,158 Real Estate – Residential 289 226 - 515 362,266 3,150 365,931 Real Estate – Home Equity 355 - - 355 201,282 462 202,099 Consumer 712 179 - 891 267,560 165 268,616 Total $ 2,159 $ 463 $ - $ 2,622 $ 2,049,743 $ 5,362 $ 2,057,727 December 31, 2020 Commercial, Financial and Agricultural $ 194 $ 124 $ - $ 318 $ 393,451 $ 161 $ 393,930 Real Estate – Construction - 717 - 717 134,935 179 135,831 Real Estate – Commercial Mortgage 293 - - 293 646,688 1,412 648,393 Real Estate – Residential 375 530 - 905 348,508 3,130 352,543 Real Estate – Home Equity 325 138 - 463 204,321 695 205,479 Consumer 1,556 342 - 1,898 268,058 294 270,250 Total $ 2,743 $ 1,851 $ - $ 4,594 $ 1,995,961 $ 5,871 $ 2,006,426 Nonaccrual Loans . management deems principal and interest amounts contractually due are brought The following table presents the amortized cost basis of loans in by class of loans. March 31, December 31, 2020 Nonaccrual Nonaccrual Nonaccrual Nonaccrual With With No 90 + Days With With No 90 + Days (Dollars in Thousands) ACL ACL Still Accruing ACL ACL Still Accruing Commercial, Financial and Agricultural $ 150 $ - $ - $ 161 $ - $ - Real Estate – Construction 179 - - 179 - - Real Estate – Commercial Mortgage 199 1,057 - 337 1,075 - Real Estate – Residential 1,641 1,509 - 1,617 1,513 - Real Estate – Home Equity 462 - - 695 - - Consumer 165 - - 294 - - Total Nonaccrual $ 2,796 $ 2,566 $ - $ 3,283 $ 2,588 $ - Collateral Dependent Loans. The following table presents the amortized cost basis of collateral-dependent March 31, 2021 December 31, 2020 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ - $ - $ - Real Estate – Commercial Mortgage 1,113 - 3,900 - Real Estate – Residential 2,537 - 3,022 - Real Estate – Home Equity 299 - 219 - Consumer - 29 - 29 Total Collateral Dependent $ 3,949 $ 29 $ 7,141 $ 29 A loan is collateral dependent when the borrower is experiencing sale or operation of the underlying collateral. The Bank’s collateral dependent or commercial collateral types. or internal evaluations, adjusted for selling costs or other Residential Real Estate Loans In Process . 1.2 and $ 1.6 Troubled . has granted an economic concession to the borrower alternative, the Company will make concessions including interest rate, or a combination thereof. losses on a loan-by-loan basis as all TDRs are, by definition, results of either a discounted cash flow analysis or the TDR classification can be removed if the borrower’s difficulty, market terms and qualifies as a new loan. At March 31, 2021, the Company had $ 14.3 13.6 modified terms. 14.3 13.9 accordance with modified terms. 0.7 0.6 2021 and December 31, 2020, respectively. The modifications made to TDRs involved either an or a combination thereof. two $ 0.4 one 0.2 For the three month period ended March 31, 2021 there no the loans were modified within the 12 months prior to default. two loans totaling $ 0.1 12 months prior to default. Credit Risk Management . procedures designed to maximize loan income within approve these policies and procedures on a regular Reporting systems are used to monitor loan originations, loans and potential problem loans. monitor asset quality trends and the appropriateness of concentration risk is monitored. of risk, client concentrations, industry group, loan type, of the loan portfolio are monitored and reported Board approved credit policies governing exposure the Company’s loan portfolio Commercial, Financial, and Agricultural – Loans in with consideration given to underlying collateral and ratio limits that require a borrower’s cash flow The majority of these loans are secured by the assets being equipment. governed by established policy guidelines. Real Estate Construction – Loans in this category and construction/permanent loans made to individuals rehabilitation of real property. secured by the property being financed, including 1-4 family occupied or investment in nature. based upon estimates of costs and value associated with the party appraisals and evaluations. of funds for construction loans is made in relation site inspections. Real Estate Commercial Mortgage – Loans in this category owner-occupied or investment in nature. with consideration given to underlying real estate collateral coverage ratios and loan to value ratios specific to appraisals and evaluations. Real Estate Residential – Residential mortgage loans held ability to make scheduled payments with full consideration assets, and other financial resources, credit history, residential properties. originate sub-prime loans. Real Estate Home Equity – Home equity loans and lines are made by senior or junior mortgage liens on owner-occupied favorable credit history combined with supportive established policy guidelines. Consumer Loans – This loan portfolio includes personal lines of credit. establishes maximum debt to income ratios, minimum receipt of credit reports. Credit Quality Indicators . into risk categories based on relevant information about information, historical payment performance, credit documentation, factors. relationships over a predetermined amount and review noted below for categorizing and managing its criticized and are not considered criticized. Special Mention – Loans in this category are presently cause future problems. the ordinary amount of attention is warranted for these loans. Substandard – Loans in this category exhibit well-defined These loans are no longer adequately protected due borrower. Doubtful – Loans in this category have all the weaknesses inherent the weaknesses make collection or liquidation in full, questionable and improbable. Performing/Nonperforming – Loans within certain but are monitored for credit quality via the aging is updated on an on-going basis dependent upon improvement The following table summarizes gross loans held for credit risk ratings (refer to Credit Risk Management section Term Revolving (Dollars in Thousands) 2021 2020 2019 2018 2017 Prior Loans Total Commercial, Financial, Agriculture: Pass $ 77,066 $ 188,688 $ 41,681 $ 32,674 $ 12,792 $ 21,622 $ 38,528 $ 413,051 Special Mention - - 189 39 4 55 - 287 Substandard - 12 - 285 38 88 58 481 Total $ 77,066 $ 188,700 $ 41,870 $ 32,998 $ 12,834 $ 21,765 $ 38,586 $ 413,819 Real Estate - Construction: Pass $ 13,786 $ 80,577 $ 29,221 $ 6,301 $ 1,570 $ - $ 3,451 $ 134,906 Special Mention 643 - 2,376 - - - - 3,019 Substandard - - 179 - - - - 179 Total $ 14,429 $ 80,577 $ 31,776 $ 6,301 $ 1,570 $ - $ 3,451 $ 138,104 Real Estate - Commercial Mortgage: Pass $ 35,435 $ 158,436 $ 100,143 $ 115,971 $ 69,848 $ 111,707 $ 24,321 $ 615,861 Special Mention - 4,161 6,040 14,296 4,618 13,143 397 42,655 Substandard 1,604 589 3,597 87 1,829 2,936 - 10,642 Total $ 37,039 $ 163,186 $ 109,780 $ 130,354 $ 76,295 $ 127,786 $ 24,718 $ 669,158 Real Estate - Residential: Pass $ 42,559 $ 92,152 $ 58,624 $ 39,575 $ 37,006 $ 78,360 $ 6,290 $ 354,566 Special Mention - 139 23 124 173 535 - 994 Substandard 133 1,402 2,653 1,603 1,341 3,239 - 10,371 Total $ 42,692 $ 93,693 $ 61,300 $ 41,302 $ 38,520 $ 82,134 $ 6,290 $ 365,931 Real Estate - Home Equity: Performing $ 39 $ 62 $ 358 $ 238 $ 767 $ 2,247 $ 197,926 $ 201,637 Nonperforming - - - - - - 462 462 Total $ 39 $ 62 $ 358 $ 238 $ 767 $ 2,247 $ 198,388 $ 202,099 Consumer: Performing $ 30,721 $ 97,423 $ 61,532 $ 44,126 $ 20,292 $ 9,502 $ 4,855 $ 268,451 Nonperforming - 55 61 5 12 32 - 165 Total $ 30,721 $ 97,478 $ 61,593 $ 44,131 $ 20,304 $ 9,534 $ 4,855 $ 268,616 |
MORTGAGE BANKING ACTIVITIES |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Mortgage Banking Activities [Abstract] | |
Mortgage Banking Activities | NOTE 4 – MORTGAGE BANKING ACTIVITIES The Company’s mortgage sales, forward sales contracts used to manage residential market residential loan closings, and residential mortgage CCHL activities for the period March 1, 2020 to March January 1, 2020 to March 1, 2020. Residential Mortgage Loan Production The Company originates, markets, and services conventional conforming fixed rate residential mortgage loans are held residential mortgage loans may be held for investment. market prices are the primary drivers of origination revenue. Residential mortgage loan commitments are generally outstanding commitment to originate a residential mortgage loan to commitments are subject to both credit and price risk. collateral requirements, which are generally accepted fluctuations and is partially managed through forward securities, or TBAs) or mandatory delivery commitments The unpaid principal balance of residential mortgage loans mortgage loan commitments and forward contract sales and March 31, 2021 December 31, 2020 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 79,903 $ 82,081 $ 109,831 $ 114,039 Residential Mortgage Loan Commitments ("IRLCs") (1) 144,155 2,982 147,494 4,825 Forward Sales Contracts (2) 137,500 1,356 158,500 (907) $ 86,419 $ 117,957 (1) Recorded in other assets at fair value (2) Recorded at fair value in other assets at March Residential mortgage loans held for sale that were 0.4 2021 and $ 0.6 Mortgage banking revenue was as follows: Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Net realized gains on sales of mortgage loans $ 14,424 $ 3,407 Net change in unrealized gain on mortgage loans held (2,031) 738 Net change in the fair value of mortgage loan commitments (1,843) 1,655 Net change in the fair value of forward sales contracts 2,263 (1,394) Pair-Offs on net settlement of forward 3,310 (1,376) Mortgage servicing rights additions 187 - Net origination fees 815 223 Total mortgage $ 17,125 $ 3,253 Residential Mortgage Servicing The Company may retain the right to service residential others is the primary driver of servicing revenue. The following represents a summary of mortgage (Dollars in Thousands) March 31, 2021 December 31, 2020 Number of residential mortgage loans serviced for others 1,800 1,796 Outstanding principal balance of residential mortgage $ 454,382 $ 456,135 Weighted average 3.62% 3.64% Remaining contractual term (in months) 320 321 Conforming conventional loans serviced by the Company generally the responsibility of FNMA and not the Company. GNMA, whereby the Company is insured against loss by the Veterans 63 %), GNMA ( 11 %), and private investor ( 26 %). The Company had $ 2.9 4.9 Company at March 31, 2021 and December 31, 2020, has been recorded in other assets and other liabilities, respectively, three months ended March 31, 2021, the Company 1.5 the intention to modify their terms and include the Activity in the capitalized mortgage servicing rights was as follows: Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Beginning balance $ 3,452 $ 910 Additions due to loans sold with servicing retained 187 25 Deletions and amortization (306) (25) Valuation 250 - Ending balance $ 3,583 $ 910 The Company did no t record any permanent impairment losses on mortgage servicing 31, 2021 and March 31, 2020. The key unobservable inputs used in determining the March 31, 2021 December 31, 2020 Minimum Maximum Minimum Maximum Discount rates 11.00% 15.00% 11.00% 15.00% Annual prepayment speeds 9.60% 24.96% 13.08% 23.64% Cost of servicing (per loan) $ 90 $ 110 $ 90 $ 110 Changes in residential mortgage interest rates directly servicing rights. estimated loan curtailment, anticipated defaults, and other relevant 14.16 % at March 31, 2021 and 17.10 % at December 31, 2020. Warehouse The Company has the following warehouse lines of March 31, 2021. Amounts (Dollars in Thousands) Outstanding $ 25 October 2021 . 2.25% , with a floor rate of 3.50% . 0.1 $ 7,788 $ 50 2.24% 3.00% , with a floor rate of 3.25% . 0.5 27,622 $ 50 September 2021 . 2.75% , with a floor rate of 3.25% . 13,403 Total Warehouse $ 48,813 Warehouse sale pledged as collateral under the above warehouse lines contain covenants which include certain financial requirements, liquid assets, maximum debt to net worth ratio and positive compliance with all significant debt covenants at March The Company intends to renew the warehouse lines of The Company has extended a $ 50 51 % owned subsidiary entity. transactions under this line of credit are eliminated total short term borrowings noted on the consolidated 2021 was $ 29.7 |
DERIVATIVES |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Derivatives [Abstract] | |
Derivatives | NOTE 5 – DERIVATIVES The Company enters into derivative financial instruments to manage receipt or payment of future known and uncertain cash derivative financial instruments are used to manage differences expected cash receipts and its known or expected Cash Flow Hedges of Interest Rate Risk Interest rate swaps with notional amounts totaling 30 debt. 2.50 % and receive a variable interest rate based on three-month LIBOR plus a weighted average margin 1.83 %. For derivatives designated and that qualify as cash accumulated other comprehensive income (“AOCI”) and which the hedged transaction affects earnings. will be reclassified to interest expense as interest payments are The following table reflects the cash flow hedges included Notional Fair Balance Sheet Weighted Average (Dollars in Thousands) Value Location March 31, 2021 Interest rate swaps related to subordinated debt $ 30,000 $ 2,699 Other Assets 9.3 December 31, 2020 Interest rate swaps related to subordinated debt $ 30,000 $ 574 Other Assets 9.5 The following table presents the net gains (losses) recorded flow derivative instruments (interest rate swaps related to Amount of Gain Amount of Gain (Loss) Recognized (Loss) Reclassified (Dollars in Thousands) in AOCI Category from AOCI to Income Three months ended March 31, 2021 $ 1,587 Interest Expense $ (33) The Company estimates there will be approximately 0.1 months. The Company had a collateral liability of $ 2.6 0.5 |
LEASES |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Leases [Abstract] | |
Leases | NOTE 6 – LEASES Operating leases in which the Company is the lessee are liabilities, included in other assets and liabilities, respectively, Operating lease ROU assets represent the Company’s liabilities represent the Company’s liabilities are recognized at lease commencement based represents the Company’s of amortization of the ROU asset and the implicit interest accreted over the lease term, and is recorded in occupancy expense The Company’s operating 1 45 leases are not complex and do not contain residual value made in applying the requirements of Topic Operating leases with an initial term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. lease ROU assets and liabilities were $ 11.8 12.6 any significant lessor agreements. The table below summarizes our lease expense and other Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Operating lease expense $ 344 $ 156 Short-term lease expense 140 79 Total lease expense $ 484 $ 235 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 385 $ 160 Right-of-use assets obtained in exchange for new operating lease liabilities 75 5,092 Weighted average 25.5 15.4 Weighted average 2.1% 2.4% The table below summarizes the maturity of remaining (Dollars in Thousands) March 31, 2021 2021 $ 1,158 2022 1,389 2023 995 2024 945 2025 771 2026 and thereafter 11,132 Total $ 16,390 Less: Interest (3,837) Present Value $ 12,553 At March 31, 2021, the Company had additional operating two totaling $ 4.8 15 years . Payments for the banking offices are expected to commence after the construction period ends, which is expected to occur during the second quarter of 2022 and the third quarter of 2022. A related party is the lessor in an operating lease with 0.2 through 2024, for an aggregate remaining obligation of 0.7 |
EMPLOYEE BENEFIT PLANS |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee benefit plans | NOTE 7 - EMPLOYEE BENEFIT PLANS The Company has a defined benefit pension plan covering Supplemental Executive Retirement Plan (“SERP”) and executive officers. December 31, 2019. were not covered by the SERP. The components of the net periodic benefit cost for Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Service Cost $ 1,743 $ 1,457 Interest Cost 1,221 1,411 Expected Return on Plan Assets (2,787) (2,748) Prior Service Cost Amortization 4 4 Net Loss Amortization 1,691 1,011 Special Termination - 61 Net Periodic Benefit Cost $ 1,872 $ 1,196 Discount Rate Used for Benefit Cost 2.88% 3.53% Long-term Rate of Return on Assets 6.75% 7.00% The components of the net periodic benefit cost for the Company's Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Service Cost $ 9 $ - Interest Cost $ 59 $ 72 Prior Service Cost Amortization 19 - Net Loss Amortization 198 247 Net Periodic Benefit Cost $ 285 $ 319 Discount Rate Used for Benefit Cost 2.38% 3.16% The service cost component of net periodic benefit cost is reflected income. of income. |
COMMITMENTS AND CONTINGENCIES |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Commitments and Contingencies [Abstract] | |
Commitment and contingencies | NOTE 8 - COMMITMENTS AND CONTINGENCIES Lending Commitments . to meet the financing needs of its clients. credit. The Company’s maximum the contractual amount of those instruments. letters of credit as it does for on-balance sheet instruments. obligations were as follows: March 31, 2021 December 31, 2020 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit $ 170,898 $ 599,387 $ 770,285 $ 160,372 $ 596,572 $ 756,944 Standby Letters of Credit 6,711 - 6,711 6,550 - 6,550 Total $ 177,609 $ 599,387 $ 776,996 $ 166,922 $ 596,572 $ 763,494 (1) Commitments include unfunded loans, revolving Commitments to extend credit are agreements to lend contract. many of the commitments are expected to expire without represent future cash requirements. Standby letters of credit are conditional commitments party. general, management does not anticipate any material potential losses arising from such transactions are reserved facilities. For both on- deemed necessary. obtained upon extension of credit is based on management’s include deposits held in financial institutions; U.S. Treasury property, plant and The allowance for credit losses for off-balance sheet adjusted as a provision for credit loss expense and is recorded allowance. Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Beginning Balance $ 1,644 $ 157 Impact of Adoption of ASC 326 - 876 Provision for Credit Losses 1,330 - Ending Balance $ 2,974 $ 1,033 Contingencies . there are no known pending claims or litigation, the outcome on the consolidated results of operations, financial Indemnification Obligation . indemnify the Visa U.S.A. antitrust lawsuits challenging the practices of Visa U.S.A. network, obtained Class B shares of Visa, funded a litigation reserve for the Covered Litigation resulting first quarter of 2011, the Company contract with the purchaser of the shares that requires revisions to the conversion ratio for its Class B shares. Fixed charges included in the swap liability are payable aforementioned swap contract will be terminated. 200,000 . ongoing fixed quarterly charges are reflected |
FAIR VALUE MEASUREMENTS |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Fair Value measurements [Abstract] | |
Fair value measurements | NOTE 9 – FAIR VALUE The fair value of an asset or liability is the price that would transaction occurring in the principal market (or most advantageous liability. approach and/or the cost approach. assumptions that market participants would use in valuation inputs that gives the highest priority to quoted priority to unobservable inputs. ● Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities ability to access at the measurement date . ● Level 2 Inputs - Inputs other than quoted prices included in Level 1 that or indirectly. These or similar assets or liabilities in markets that are not active, liability (such as interest rates, volatilities, prepayment corroborated, by market data by correlation or other means . ● Level 3 Inputs - Unobservable inputs for determining the fair values of assets or assumptions about the assumptions that market participants Assets and Liabilities Measured at Fair Securities Available for Sale. U.S. Treasury securities are reported available for sale are reported at fair value utilizing Level from an independent pricing service. spreads, cash flows, the U.S. Treasury and conditions, among other things. In general, the Company does not purchase securities that have traditional investments, nearly all of which are U.S. Treasury general obligation or revenue-based municipal bonds. will validate prices supplied by the independent pricing source. Loans Held for Sale . using either quoted secondary-market prices or investor commitments. using quoted prices for a similar asset or assets, adjusted for participants. Mortgage Banking Derivative Instruments. The fair values of interest rate lock commitments (“IRLCs”) are derived models incorporating market pricing for instruments with investor commitment prices for best effort servicing rights expected to be recorded upon sale of the and are therefore classified as Level 3 within the fair value observable market pricing for similar instruments and Interest Rate Swap. The Company’s derivative models generally accepted in the financial services external market data providers. Fair Value . valuation represents the amount due and payable to the counterparty period. A summary of fair values for assets and liabilities consisted Level 1 Level 2 Level 3 Total (Dollars in Thousands) Inputs Inputs Inputs Value March 31, 2021 ASSETS: Securities Available U.S. Government Treasury $ 173,116 $ - $ - $ 173,116 U.S. Government Agency - 221,530 - 221,530 States and Political Subdivisions - 4,308 - 4,308 Mortgage-Backed Securities - 496 - 496 Equity Securities (1) - 6,795 - 6,795 Loans Held for Sale - 82,081 - 82,081 Interest Rate Swap Derivative - 2,699 - 2,699 Mortgage Banking Hedge Derivative - 1,356 - 1,356 Mortgage Banking IRLC Derivative - - 2,982 2,982 Mortgage Servicing Rights - - 4,019 4,019 December 31, 2020 ASSETS: Securities Available U.S. Government Treasury $ 104,519 $ - $ - $ 104,519 U.S. Government Agency - 208,531 - 208,531 States and Political Subdivisions - 3,632 - 3,632 Mortgage-Backed Securities - 515 - 515 Equity Securities (1) - 7,673 - 7,673 Loans Held for Sale - 114,039 - 114,039 Interest Rate Swap Derivative - 574 - 574 Mortgage Banking IRLC Derivative - - 4,825 4,825 LIABILITIES: Mortgage Banking Hedge Derivative - 907 - 907 (1) Not readily marketable securities - reflected Mortgage Banking Activities . 15.4 10.5 the three month period ending March 31, 2021 and Level 3 1.2 1.8 the three month period ending March 31, 2020 related to value of the underlying mortgage loan from inception to originate. value. Assets Measured at Fair Value Certain assets are measured at fair value on a non-recurring but are subject to fair value adjustments in certain circumstances). The following is a description of valuation methodologies Collateral Dependent Loans . costs. regulations. estimation involved in the real estate appraisal process. basis for additional impairment and adjusted accordingly. periods. 4.0 0.1 and $ 7.1 0.1 Other Real Estate Owned . and reported at fair value through a charge-off estimated cost to sell. conformance with banking regulations. adjustments as necessary. involved in the real estate valuation process. Mortgage Servicing Rights . upon the fair value of the rights as compared to the carrying estimated prepayment speeds of the underlying mortgage loans serviced underlying loans (predominantly loan type and note interest discount rate, weighted average prepayment speed, and provided in Note 4 – Mortgage Banking Activities. no Assets and Liabilities Disclosed at Fair Value The Company is required to disclose the estimated fair value practical to estimate fair value and the following Cash and Short-Term The carrying amount of cash and short-term investments is used the short time frame to maturity and as such assets do Securities Held to Maturity . footnote under the caption “Assets and Liabilities Measured Loans. techniques based upon projected cash flows, estimated “exit price” valuation. Deposits. amounts payable on demand at the reporting date. The value techniques and rates currently offered Subordinated Notes Payable. flows and estimated discount rates as well as rates being offered Short-Term projected cash flows and estimated discount rates as well as rates A summary of estimated fair values of significant March 31, 2021 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 73,973 $ 73,973 $ - $ - Short-Term 851,910 851,910 - - Investment Securities, Available 406,245 173,116 233,129 - Investment Securities, Held to Maturity 199,109 - 204,158 - Equity Securities (1) 3,588 - 3,588 - Loans Held for Sale 82,081 - 82,081 - Interest Rate Swap Derivative 2,699 - 2,699 - Mortgage Banking Hedge Derivative 1,356 - 1,356 - Mortgage Banking IRLC Derivative 2,982 - - 2,982 Mortgage Servicing Rights 3,583 - - 4,019 Loans, Net of Allowance for Credit Losses 2,035,701 - - 2,036,010 LIABILITIES: Deposits $ 3,358,108 $ - $ 3,358,015 $ - Short-Term 55,687 - 55,687 - Subordinated Notes Payable 52,887 - 43,038 - Long-Term Borrowings 1,829 - 1,927 - December 31, 2020 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 67,919 $ 67,919 $ - $ - Short-Term 860,630 860,630 - - Investment Securities, Available 324,870 104,519 220,351 - Investment Securities, Held to Maturity 169,939 5,014 170,161 - Loans Held for Sale 114,039 - 114,039 - Equity Securities (1) 3,589 - 3,589 - Interest Rate Swap Derivative 574 - 574 - Mortgage Banking IRLC Derivative 4,825 - - 4,825 Mortgage Servicing Rights 3,452 - - 3,451 Loans, Net of Allowance for Credit Losses 1,982,610 - - 1,990,740 LIABILITIES: Deposits $ 3,217,560 $ - $ 3,217,615 $ - Short-Term 79,654 - 79,654 - Subordinated Notes Payable 52,887 - 43,449 - Long-Term Borrowings 3,057 - 3,174 - Mortgage Banking Hedge Derivative 907 - 907 - (1) All non-financial instruments are excluded from the aggregate fair value amounts presented do not represent |
OTHER COMPREHENSIVE INCOME |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Other comprehensive income [Abstract] | |
Other comprehensive income | NOTE 10 – ACCUMULATED The amounts allocated to accumulated other comprehensive Accumulated Securities Other Available Interest Rate Retirement Comprehensive (Dollars in Thousands) Swap Plans Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive income during the period (1,458) 1,587 142 271 Balance as of March 31, 2021 $ 1,242 $ 2,015 $ (47,128) $ (43,871) Balance as of January 1, 2020 $ 864 $ - $ (29,045) $ (28,181) Other comprehensive income during the period 2,648 - - 2,648 Balance as of March 31, 2020 $ 3,512 $ - $ (29,045) $ (25,533) |
BUSINESS AND BASIS OF PRESENTATION (Policies) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Business and Basis of Presentation [Abstract] | |
Nature of Operations | Nature of Operations . related services to individual and corporate clients through Georgia, and Alabama. government agencies and undergoes periodic |
Basis of Presentation | Basis of Presentation . and its wholly owned subsidiary, have been eliminated. The accompanying unaudited consolidated financial statements principles for interim financial information and with they do not include all of the information and footnotes required statements. presentation have been included. The consolidated statement of financial condition at statements at that date, but does not include all of the for complete financial statements. included in the Company’s |
Accounting Standards Updates | Accounting Standards Updates ASU 2020-04, "Reference Rate Reform ASU 2020-04 provides optional expedients and exceptions for applying to loan and lease agreements, derivative contracts, and toward new interest rate benchmarks. For transactions guidance (i) modifications of loan agreements should modification will be considered "minor" so that any existing be amortized and (ii) modifications of lease agreements reassessments of the lease classification and the discount for modifications not accounted for as separate accounting. contract modifications as of January 1, 2020, or prospectively March 12, 2020, up to the date that the financial statements Subtopic within the Codification, the amendments in this that Topic or Industry (yet to be determined) and December 31, 2022 that are continuation of the contract, rather than extinguishment of ASU 2021-01, “Reference Rate Reform clarifies that certain optional expedients and exceptions contract modifications and hedge accounting apply amends the expedients and exceptions in ASC 848 to existing guidance to derivative instruments. ASU will have material effects on the Company’s |
INVESTMENT SECURITIES (Tables) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Investments Securities [Abstract] | |
Schedule of amortized cost and related market value of investment securities available-for-sale | NOTE 2 – INVESTMENT SECURITIES Investment Portfolio Composition . The following table summarizes the amortized cost and related securities available-for-sale and securities held March 31, 2021 December 31, 2020 Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market Cost Gains Losses Value Cost Gain Losses Value Available for U.S. Government Treasury $ 173,029 $ 551 $ 464 $ 173,116 $ 103,547 $ 972 $ - $ 104,519 U.S. Government Agency 220,018 2,096 584 221,530 205,972 2,743 184 208,531 States and Political Subdivisions 4,244 73 9 4,308 3,543 89 - 3,632 Mortgage-Backed Securities 440 56 - 496 456 59 - 515 Equity Securities (1) 6,795 - - 6,795 7,673 - - 7,673 Total $ 404,526 $ 2,776 $ 1,057 $ 406,245 $ 321,191 $ 3,863 $ 184 $ 324,870 Held to Maturity U.S. Government Treasury $ - $ - $ - $ - $ 5,001 $ 13 $ - $ 5,014 Mortgage-Backed Securities 199,109 5,358 309 204,158 164,938 5,223 - 170,161 Total $ 199,109 $ 5,358 $ 309 $ 204,158 $ 169,939 $ 5,236 $ - $ 175,175 Total Investment $ 603,635 $ 8,134 $ 1,366 $ 610,403 $ 491,130 $ 9,099 $ 184 $ 500,045 (1) Includes Federal Home Loan Bank and Federal Reserve Bank 2.0 4.8 respectively, 2.9 million and $ 4.8 |
Schedule of investment securities with maturity distribution based on contractual maturities | Available for Held to Maturity (Dollars in Thousands) Amortized Cost Market Value Amortized Cost Market Value Due in one year or less $ 77,464 $ 77,741 $ - $ - Due after one year through five years 138,352 137,981 - - Due after five year through ten years 989 989 - - Mortgage-Backed Securities 440 496 199,109 204,158 U.S. Government Agency 180,486 182,243 - - Equity Securities 6,795 6,795 - - Total $ 404,526 $ 406,245 $ 199,109 $ 204,158 |
Schedule of investment securities with continuous unrealized loss position | Less Than Greater Than 12 Months 12 Months Total Market Unrealized Market Unrealized Market Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses March 31, 2021 Available for U.S. Government Treasury $ 65,577 $ 464 $ - $ - $ 65,577 $ 464 U.S. Government Agency 63,630 554 4,778 30 68,408 584 States and Political Subdivisions 744 9 - - 744 9 Total 129,951 1,027 4,778 30 134,729 1,057 Held to Maturity Mortgage-Backed Securities 20,550 309 - - 20,550 309 Total $ 20,550 $ 309 $ - $ - $ 20,550 $ 309 December 31, 2020 Available for U.S. Government Agency $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 Total $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Tables) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Loans Held For Investment And Allowance For Credit Losses [Abstract] | |
Schedule of composition of the loan portfolio | (Dollars in Thousands) March 31, 2021 December 31, 2020 Commercial, Financial and Agricultural $ 413,819 $ 393,930 Real Estate – Construction 138,104 135,831 Real Estate – Commercial Mortgage 669,158 648,393 Real Estate – Residential (1) 365,931 352,543 Real Estate – Home Equity 202,099 205,479 Consumer (2) 268,616 270,250 Loans HFI, Net of Unearned Income $ 2,057,727 $ 2,006,426 (1) Includes loans in process with outstanding 8.3 10.9 respectively. (2) Includes overdraft balances of $ 0.9 0.7 |
Schedule of activity in the allowance for loan losses by portfolio class | Commercial, Real Estate Financial, Real Estate Commercial Real Estate Real Estate (Dollars in Thousands) Agricultural Construction Mortgage Residential Home Equity Consumer Total Three Months Ended March 31, 2021 Beginning Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 Provision for Credit Losses (314) (225) (718) (305) (655) (95) (2,312) Charge-Offs (69) - - (6) (5) (1,056) (1,136) Recoveries 136 - 645 75 124 678 1,658 Net Recoveries 67 - 645 69 119 (378) 522 Ending Balance $ 1,957 $ 2,254 $ 6,956 $ 5,204 $ 2,575 $ 3,080 $ 22,026 Three Months Ended March 31, 2020 Beginning Balance $ 1,675 $ 370 $ 3,416 $ 3,128 $ 2,224 $ 3,092 $ 13,905 Impact of Adopting ASC 326 488 302 1,458 1,243 374 (596) 3,269 Provision for Credit Losses 406 567 774 1,704 101 1,438 4,990 Charge-Offs (362) - (11) (110) (31) (1,566) (2,080) Recoveries 40 - 191 40 33 695 999 Net Charge-Offs (322) - 180 (70) 2 (871) (1,081) Ending Balance $ 2,247 $ 1,239 $ 5,828 $ 6,005 $ 2,701 $ 3,063 $ 21,083 |
Schedule of aging of the recorded investment in accruing past due loans by class of loans | 30-59 60-89 90 + Total Total Nonaccrual Total (Dollars in Thousands) DPD DPD DPD Past Due Current Loans Loans March 31, 2021 Commercial, Financial and Agricultural $ 55 $ 58 $ - $ 113 $ 413,556 $ 150 $ 413,819 Real Estate – Construction 565 - - 565 137,360 179 138,104 Real Estate – Commercial Mortgage 183 - - 183 667,719 1,256 669,158 Real Estate – Residential 289 226 - 515 362,266 3,150 365,931 Real Estate – Home Equity 355 - - 355 201,282 462 202,099 Consumer 712 179 - 891 267,560 165 268,616 Total $ 2,159 $ 463 $ - $ 2,622 $ 2,049,743 $ 5,362 $ 2,057,727 December 31, 2020 Commercial, Financial and Agricultural $ 194 $ 124 $ - $ 318 $ 393,451 $ 161 $ 393,930 Real Estate – Construction - 717 - 717 134,935 179 135,831 Real Estate – Commercial Mortgage 293 - - 293 646,688 1,412 648,393 Real Estate – Residential 375 530 - 905 348,508 3,130 352,543 Real Estate – Home Equity 325 138 - 463 204,321 695 205,479 Consumer 1,556 342 - 1,898 268,058 294 270,250 Total $ 2,743 $ 1,851 $ - $ 4,594 $ 1,995,961 $ 5,871 $ 2,006,426 |
Schedule of recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans | March 31, December 31, 2020 Nonaccrual Nonaccrual Nonaccrual Nonaccrual With With No 90 + Days With With No 90 + Days (Dollars in Thousands) ACL ACL Still Accruing ACL ACL Still Accruing Commercial, Financial and Agricultural $ 150 $ - $ - $ 161 $ - $ - Real Estate – Construction 179 - - 179 - - Real Estate – Commercial Mortgage 199 1,057 - 337 1,075 - Real Estate – Residential 1,641 1,509 - 1,617 1,513 - Real Estate – Home Equity 462 - - 695 - - Consumer 165 - - 294 - - Total Nonaccrual $ 2,796 $ 2,566 $ - $ 3,283 $ 2,588 $ - |
Amortized cost basis of collateral-dependent loans | March 31, 2021 December 31, 2020 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ - $ - $ - Real Estate – Commercial Mortgage 1,113 - 3,900 - Real Estate – Residential 2,537 - 3,022 - Real Estate – Home Equity 299 - 219 - Consumer - 29 - 29 Total Collateral Dependent $ 3,949 $ 29 $ 7,141 $ 29 |
Summary of gross loans held for investment by years of origination | Term Revolving (Dollars in Thousands) 2021 2020 2019 2018 2017 Prior Loans Total Commercial, Financial, Agriculture: Pass $ 77,066 $ 188,688 $ 41,681 $ 32,674 $ 12,792 $ 21,622 $ 38,528 $ 413,051 Special Mention - - 189 39 4 55 - 287 Substandard - 12 - 285 38 88 58 481 Total $ 77,066 $ 188,700 $ 41,870 $ 32,998 $ 12,834 $ 21,765 $ 38,586 $ 413,819 Real Estate - Construction: Pass $ 13,786 $ 80,577 $ 29,221 $ 6,301 $ 1,570 $ - $ 3,451 $ 134,906 Special Mention 643 - 2,376 - - - - 3,019 Substandard - - 179 - - - - 179 Total $ 14,429 $ 80,577 $ 31,776 $ 6,301 $ 1,570 $ - $ 3,451 $ 138,104 Real Estate - Commercial Mortgage: Pass $ 35,435 $ 158,436 $ 100,143 $ 115,971 $ 69,848 $ 111,707 $ 24,321 $ 615,861 Special Mention - 4,161 6,040 14,296 4,618 13,143 397 42,655 Substandard 1,604 589 3,597 87 1,829 2,936 - 10,642 Total $ 37,039 $ 163,186 $ 109,780 $ 130,354 $ 76,295 $ 127,786 $ 24,718 $ 669,158 Real Estate - Residential: Pass $ 42,559 $ 92,152 $ 58,624 $ 39,575 $ 37,006 $ 78,360 $ 6,290 $ 354,566 Special Mention - 139 23 124 173 535 - 994 Substandard 133 1,402 2,653 1,603 1,341 3,239 - 10,371 Total $ 42,692 $ 93,693 $ 61,300 $ 41,302 $ 38,520 $ 82,134 $ 6,290 $ 365,931 Real Estate - Home Equity: Performing $ 39 $ 62 $ 358 $ 238 $ 767 $ 2,247 $ 197,926 $ 201,637 Nonperforming - - - - - - 462 462 Total $ 39 $ 62 $ 358 $ 238 $ 767 $ 2,247 $ 198,388 $ 202,099 Consumer: Performing $ 30,721 $ 97,423 $ 61,532 $ 44,126 $ 20,292 $ 9,502 $ 4,855 $ 268,451 Nonperforming - 55 61 5 12 32 - 165 Total $ 30,721 $ 97,478 $ 61,593 $ 44,131 $ 20,304 $ 9,534 $ 4,855 $ 268,616 |
MORTGAGE BANKING ACTIVITIES (Tables) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Mortgage Banking Activities [Abstract] | |
Residential Mortgage Loan Production | March 31, 2021 December 31, 2020 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 79,903 $ 82,081 $ 109,831 $ 114,039 Residential Mortgage Loan Commitments ("IRLCs") (1) 144,155 2,982 147,494 4,825 Forward Sales Contracts (2) 137,500 1,356 158,500 (907) $ 86,419 $ 117,957 (1) Recorded in other assets at fair value (2) Recorded at fair value in other assets at March |
Mortgage banking revenue | Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Net realized gains on sales of mortgage loans $ 14,424 $ 3,407 Net change in unrealized gain on mortgage loans held (2,031) 738 Net change in the fair value of mortgage loan commitments (1,843) 1,655 Net change in the fair value of forward sales contracts 2,263 (1,394) Pair-Offs on net settlement of forward 3,310 (1,376) Mortgage servicing rights additions 187 - Net origination fees 815 223 Total mortgage $ 17,125 $ 3,253 |
Summary of mortgage servicing rights | (Dollars in Thousands) March 31, 2021 December 31, 2020 Number of residential mortgage loans serviced for others 1,800 1,796 Outstanding principal balance of residential mortgage $ 454,382 $ 456,135 Weighted average 3.62% 3.64% Remaining contractual term (in months) 320 321 |
Summary of mortgage servicing rights | Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Beginning balance $ 3,452 $ 910 Additions due to loans sold with servicing retained 187 25 Deletions and amortization (306) (25) Valuation 250 - Ending balance $ 3,583 $ 910 |
Key unobservable inputs used in determining the fair value of mortgage servicing rights | March 31, 2021 December 31, 2020 Minimum Maximum Minimum Maximum Discount rates 11.00% 15.00% 11.00% 15.00% Annual prepayment speeds 9.60% 24.96% 13.08% 23.64% Cost of servicing (per loan) $ 90 $ 110 $ 90 $ 110 |
Warehouse Line Borrowings | Amounts (Dollars in Thousands) Outstanding $ 25 October 2021 . 2.25% , with a floor rate of 3.50% . 0.1 $ 7,788 $ 50 2.24% 3.00% , with a floor rate of 3.25% . 0.5 27,622 $ 50 September 2021 . 2.75% , with a floor rate of 3.25% . 13,403 Total Warehouse $ 48,813 |
DERIVATIVES (Tables) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Derivatives [Abstract] | |
Cash flow hedges included in the Consolidated Statement of Financial Condition | Notional Fair Balance Sheet Weighted Average (Dollars in Thousands) Value Location March 31, 2021 Interest rate swaps related to subordinated debt $ 30,000 $ 2,699 Other Assets 9.3 December 31, 2020 Interest rate swaps related to subordinated debt $ 30,000 $ 574 Other Assets 9.5 |
Net gains (losses) recorded in accumulated other comprehensive income | Amount of Gain Amount of Gain (Loss) Recognized (Loss) Reclassified (Dollars in Thousands) in AOCI Category from AOCI to Income Three months ended March 31, 2021 $ 1,587 Interest Expense $ (33) |
LEASES (Tables) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Leases [Abstract] | |
Summary of lease expense and other information related to operating leases | Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Operating lease expense $ 344 $ 156 Short-term lease expense 140 79 Total lease expense $ 484 $ 235 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 385 $ 160 Right-of-use assets obtained in exchange for new operating lease liabilities 75 5,092 Weighted average 25.5 15.4 Weighted average 2.1% 2.4% |
Summary of maturity of remaining lease liabilities | The table below summarizes the maturity of remaining (Dollars in Thousands) March 31, 2021 2021 $ 1,158 2022 1,389 2023 995 2024 945 2025 771 2026 and thereafter 11,132 Total $ 16,390 Less: Interest (3,837) Present Value $ 12,553 |
EMPLOYEE BENEFIT PLANS (Tables) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Service Cost $ 1,743 $ 1,457 Interest Cost 1,221 1,411 Expected Return on Plan Assets (2,787) (2,748) Prior Service Cost Amortization 4 4 Net Loss Amortization 1,691 1,011 Special Termination - 61 Net Periodic Benefit Cost $ 1,872 $ 1,196 Discount Rate Used for Benefit Cost 2.88% 3.53% Long-term Rate of Return on Assets 6.75% 7.00% |
Supplemental Executive Retirement Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | The components of the net periodic benefit cost for the Company's Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Service Cost $ 9 $ - Interest Cost $ 59 $ 72 Prior Service Cost Amortization 19 - Net Loss Amortization 198 247 Net Periodic Benefit Cost $ 285 $ 319 Discount Rate Used for Benefit Cost 2.38% 3.16% |
COMMITMENTS AND CONTINGENCIES (Tables) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Commitments and Contingencies [Abstract] | |
Schedule of amounts associated with the entities off-balance sheet obligations | March 31, 2021 December 31, 2020 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit $ 170,898 $ 599,387 $ 770,285 $ 160,372 $ 596,572 $ 756,944 Standby Letters of Credit 6,711 - 6,711 6,550 - 6,550 Total $ 177,609 $ 599,387 $ 776,996 $ 166,922 $ 596,572 $ 763,494 (1) Commitments include unfunded loans, revolving |
Allowance for credit losses for off-balance sheet credit commitments | Three Months Ended March 31, (Dollars in Thousands) 2021 2020 Beginning Balance $ 1,644 $ 157 Impact of Adoption of ASC 326 - 876 Provision for Credit Losses 1,330 - Ending Balance $ 2,974 $ 1,033 |
FAIR VALUE MEASUREMENTS (Tables) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Fair Value measurements [Abstract] | |
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis | Level 1 Level 2 Level 3 Total (Dollars in Thousands) Inputs Inputs Inputs Value March 31, 2021 ASSETS: Securities Available U.S. Government Treasury $ 173,116 $ - $ - $ 173,116 U.S. Government Agency - 221,530 - 221,530 States and Political Subdivisions - 4,308 - 4,308 Mortgage-Backed Securities - 496 - 496 Equity Securities (1) - 6,795 - 6,795 Loans Held for Sale - 82,081 - 82,081 Interest Rate Swap Derivative - 2,699 - 2,699 Mortgage Banking Hedge Derivative - 1,356 - 1,356 Mortgage Banking IRLC Derivative - - 2,982 2,982 Mortgage Servicing Rights - - 4,019 4,019 December 31, 2020 ASSETS: Securities Available U.S. Government Treasury $ 104,519 $ - $ - $ 104,519 U.S. Government Agency - 208,531 - 208,531 States and Political Subdivisions - 3,632 - 3,632 Mortgage-Backed Securities - 515 - 515 Equity Securities (1) - 7,673 - 7,673 Loans Held for Sale - 114,039 - 114,039 Interest Rate Swap Derivative - 574 - 574 Mortgage Banking IRLC Derivative - - 4,825 4,825 LIABILITIES: Mortgage Banking Hedge Derivative - 907 - 907 (1) Not readily marketable securities - reflected |
Schedule of financial instruments with estimated fair values | March 31, 2021 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 73,973 $ 73,973 $ - $ - Short-Term 851,910 851,910 - - Investment Securities, Available 406,245 173,116 233,129 - Investment Securities, Held to Maturity 199,109 - 204,158 - Equity Securities (1) 3,588 - 3,588 - Loans Held for Sale 82,081 - 82,081 - Interest Rate Swap Derivative 2,699 - 2,699 - Mortgage Banking Hedge Derivative 1,356 - 1,356 - Mortgage Banking IRLC Derivative 2,982 - - 2,982 Mortgage Servicing Rights 3,583 - - 4,019 Loans, Net of Allowance for Credit Losses 2,035,701 - - 2,036,010 LIABILITIES: Deposits $ 3,358,108 $ - $ 3,358,015 $ - Short-Term 55,687 - 55,687 - Subordinated Notes Payable 52,887 - 43,038 - Long-Term Borrowings 1,829 - 1,927 - December 31, 2020 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 67,919 $ 67,919 $ - $ - Short-Term 860,630 860,630 - - Investment Securities, Available 324,870 104,519 220,351 - Investment Securities, Held to Maturity 169,939 5,014 170,161 - Loans Held for Sale 114,039 - 114,039 - Equity Securities (1) 3,589 - 3,589 - Interest Rate Swap Derivative 574 - 574 - Mortgage Banking IRLC Derivative 4,825 - - 4,825 Mortgage Servicing Rights 3,452 - - 3,451 Loans, Net of Allowance for Credit Losses 1,982,610 - - 1,990,740 LIABILITIES: Deposits $ 3,217,560 $ - $ 3,217,615 $ - Short-Term 79,654 - 79,654 - Subordinated Notes Payable 52,887 - 43,449 - Long-Term Borrowings 3,057 - 3,174 - Mortgage Banking Hedge Derivative 907 - 907 - (1) |
OTHER COMPREHENSIVE INCOME (Tables) |
3 Months Ended |
---|---|
Mar. 31, 2021 | |
Other comprehensive income [Abstract] | |
Schedule of activity in accumulated other comprehensive loss, net of tax | Accumulated Securities Other Available Interest Rate Retirement Comprehensive (Dollars in Thousands) Swap Plans Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive income during the period (1,458) 1,587 142 271 Balance as of March 31, 2021 $ 1,242 $ 2,015 $ (47,128) $ (43,871) Balance as of January 1, 2020 $ 864 $ - $ (29,045) $ (28,181) Other comprehensive income during the period 2,648 - - 2,648 Balance as of March 31, 2020 $ 3,512 $ - $ (29,045) $ (25,533) |
INVESTMENT SECURITIES (Investment Portfolio Composition) (Details) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Available-for-sale | ||
Amortized Cost | $ 404,526 | $ 321,191 |
Unrealized Gains | 2,776 | 3,863 |
Unrealized Losses | 1,057 | 184 |
Market Value | 406,245 | 324,870 |
Federal Home Loan Bank | 2,000 | 2,900 |
Federal Reserve Bank stock | 4,800 | 4,800 |
Held to Maturity | ||
Amortized Cost | 199,109 | 169,939 |
Unrealized Gains | 5,358 | 5,236 |
Unrealized Losses | 309 | 0 |
Market Value | 204,158 | 175,175 |
Total | ||
Amortized Cost | 603,635 | 491,130 |
Unrealized Gain | 8,134 | 9,099 |
Unrealized Loss | 1,366 | 184 |
Fair Value | 610,403 | 500,045 |
U.S. Government Treasury [Member] | ||
Available-for-sale | ||
Amortized Cost | 173,029 | 103,547 |
Unrealized Gains | 551 | 972 |
Unrealized Losses | 464 | 0 |
Market Value | 173,116 | 104,519 |
Held to Maturity | ||
Amortized Cost | 0 | 5,001 |
Unrealized Gains | 0 | 13 |
Unrealized Losses | 0 | 0 |
Market Value | 0 | 5,014 |
U.S. Government Agency [Member] | ||
Available-for-sale | ||
Amortized Cost | 220,018 | 205,972 |
Unrealized Gains | 2,096 | 2,743 |
Unrealized Losses | 584 | 184 |
Market Value | 221,530 | 208,531 |
States and Political Subdivisions [Member] | ||
Available-for-sale | ||
Amortized Cost | 4,244 | 3,543 |
Unrealized Gains | 73 | 89 |
Unrealized Losses | 9 | 0 |
Market Value | 4,308 | 3,632 |
Mortgage-Backed Securities [Member] | ||
Available-for-sale | ||
Amortized Cost | 440 | 456 |
Unrealized Gains | 56 | 59 |
Unrealized Losses | 0 | 0 |
Market Value | 496 | 515 |
Held to Maturity | ||
Amortized Cost | 199,109 | 164,938 |
Unrealized Gains | 5,358 | 5,223 |
Unrealized Losses | 309 | 0 |
Market Value | 204,158 | 170,161 |
Equity Securities [Member] | ||
Available-for-sale | ||
Amortized Cost | 6,795 | 7,673 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Market Value | $ 6,795 | $ 7,673 |
INVESTMENT SECURITIES (Maturity Distribution) (Details) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Amortized Cost | ||
Due in one year or less | $ 77,464 | |
Due after one through five years | 138,352 | |
Due after five year through ten years | 989 | |
Total Investment Securities | 404,526 | |
Market Value | ||
Due in one year or less | 77,741 | |
Due after one through five years | 137,981 | |
Due after five year through ten years | 989 | |
Total Investment Securities | 406,245 | |
Amortized Cost | ||
Due in one year or less | 0 | |
Due after one through five years | 0 | |
Due after five year through ten years | 0 | |
Total Investment Securities | 199,109 | $ 169,939 |
Market Value | ||
Due in one year or less | 0 | |
Due after five year through ten years | 0 | |
Due after five year through ten years | 0 | |
Total Investment Securities | 204,158 | 175,175 |
Mortgage-Backed Securities [Member] | ||
Amortized Cost | ||
Due without single maturity date | 440 | |
Market Value | ||
Due without single maturity date | 496 | |
Amortized Cost | ||
Due without single maturity date | 199,109 | |
Total Investment Securities | 199,109 | 164,938 |
Market Value | ||
Due without single maturity date | 204,158 | |
Total Investment Securities | 204,158 | $ 170,161 |
U.S. Government Agency [Member] | ||
Amortized Cost | ||
Due without single maturity date | 180,486 | |
Market Value | ||
Due without single maturity date | 182,243 | |
Amortized Cost | ||
Due without single maturity date | 0 | |
Market Value | ||
Due without single maturity date | 0 | |
Equity Securities [Member] | ||
Amortized Cost | ||
Due without single maturity date | 6,795 | |
Market Value | ||
Due without single maturity date | 6,795 | |
Amortized Cost | ||
Due without single maturity date | 0 | |
Market Value | ||
Due without single maturity date | $ 0 |
INVESTMENT SECURITIES (Unrealized Losses on Investment Securities) (Details) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Available-for-sale securities | ||
Less Than 12 Months, Market Value | $ 129,951 | $ 28,266 |
Less Than 12 Months, Unrealized Losses | 1,027 | 156 |
Greater Than 12 Months, Market Value | 4,778 | 4,670 |
Greater Than 12 Months, Unrealized Losses | 30 | 28 |
Total Market Value | 134,729 | 32,936 |
Total Unrealized Losses | 1,057 | 184 |
Held-to-maturity, Debt Securities | ||
Less Than 12 Months, Market Value | 20,550 | |
Less Than 12 Months, Unrealized Losses | 309 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 20,550 | |
Total Unrealized Losses | 309 | |
U.S. Government Treasury [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Market Value | 65,577 | |
Less Than 12 Months, Unrealized Losses | 464 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 65,577 | |
Total Unrealized Losses | 464 | |
U.S. Government Agency [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Market Value | 63,630 | 28,266 |
Less Than 12 Months, Unrealized Losses | 554 | 156 |
Greater Than 12 Months, Market Value | 4,778 | 4,670 |
Greater Than 12 Months, Unrealized Losses | 30 | 28 |
Total Market Value | 68,408 | 32,936 |
Total Unrealized Losses | 584 | $ 184 |
States and Political Subdivisions [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Market Value | 744 | |
Less Than 12 Months, Unrealized Losses | 9 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 744 | |
Total Unrealized Losses | 9 | |
Mortgage-Backed Securities [Member] | ||
Held-to-maturity, Debt Securities | ||
Less Than 12 Months, Market Value | 20,550 | |
Less Than 12 Months, Unrealized Losses | 309 | |
Greater Than 12 Months, Market Value | 0 | |
Greater Than 12 Months, Unrealized Losses | 0 | |
Total Market Value | 20,550 | |
Total Unrealized Losses | $ 309 |
INVESTMENT SECURITIES (Narrative) (Details) |
Mar. 31, 2021
USD ($)
Investment_Positions
|
Dec. 31, 2020
USD ($)
|
Mar. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
---|---|---|---|---|
Investments Securities [Abstract] | ||||
Securities pledged to secure public deposits | $ 351,100,000 | $ 308,200,000 | ||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 89 | |||
Available-for-sale Securities and Held-To-Maturity, Continuous Unrealized Loss Position Fair Value, Total | $ 1,400,000 | |||
Financing Receivable, Allowance for Credit Loss | 22,026,000 | 23,816,000 | $ 21,083,000 | $ 13,905,000 |
Nonaccrual | 5,362,000 | $ 5,871,000 | ||
AFS and HTM [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Nonaccrual | $ 0 | |||
U.S. Government Agency [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 87 | |||
Investment securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Financing Receivable, Allowance for Credit Loss | $ 0 | |||
Municipal securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 2 |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Portfolio Composition) (Details) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Loan Portfolio Composition | ||
Loans Held for Investment | $ 2,057,727 | $ 2,006,426 |
Net deferred fees | 1,600 | |
Commercial, Financial and Agricultural [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 413,819 | 393,930 |
Real Estate - Construction [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 138,104 | 135,831 |
Real Estate - Commercial Mortgage [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 669,158 | 648,393 |
Real Estate - Residential [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 365,931 | 352,543 |
Loans in Process with outstanding balances | 8,300 | 10,900 |
Real Estate - Home Equity [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 202,099 | 205,479 |
Consumer [Member] | ||
Loan Portfolio Composition | ||
Loans Held for Investment | 268,616 | 270,250 |
Overdraft Balances | $ 900 | $ 700 |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Activity in the allowance for credit losses) (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | $ 23,816 | $ 13,905 |
Provision for credit losses | (2,312) | 4,990 |
Charge-Offs | (1,136) | (2,080) |
Recoveries | 1,658 | 999 |
Net Charge-Offs | 522 | (1,081) |
Ending Balance | 22,026 | 21,083 |
Impact of Adoption of ASC 326 [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 3,269 | |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 2,204 | 1,675 |
Provision for credit losses | (314) | 406 |
Charge-Offs | (69) | (362) |
Recoveries | 136 | 40 |
Net Charge-Offs | 67 | (322) |
Ending Balance | 1,957 | 2,247 |
Commercial, Financial and Agricultural [Member] | Impact of Adoption of ASC 326 [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 488 | |
Real Estate - Construction [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 2,479 | 370 |
Provision for credit losses | (225) | 567 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Net Charge-Offs | 0 | 0 |
Ending Balance | 2,254 | 1,239 |
Real Estate - Construction [Member] | Impact of Adoption of ASC 326 [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 302 | |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 7,029 | 3,416 |
Provision for credit losses | (718) | 774 |
Charge-Offs | 0 | (11) |
Recoveries | 645 | 191 |
Net Charge-Offs | 645 | 180 |
Ending Balance | 6,956 | 5,828 |
Real Estate - Commercial Mortgage [Member] | Impact of Adoption of ASC 326 [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 1,458 | |
Real Estate - Residential [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 5,440 | 3,128 |
Provision for credit losses | (305) | 1,704 |
Charge-Offs | (6) | (110) |
Recoveries | 75 | 40 |
Net Charge-Offs | 69 | (70) |
Ending Balance | 5,204 | 6,005 |
Real Estate - Residential [Member] | Impact of Adoption of ASC 326 [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 1,243 | |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 3,111 | 2,224 |
Provision for credit losses | (655) | 101 |
Charge-Offs | (5) | (31) |
Recoveries | 124 | 33 |
Net Charge-Offs | 119 | 2 |
Ending Balance | 2,575 | 2,701 |
Real Estate - Home Equity [Member] | Impact of Adoption of ASC 326 [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 374 | |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 3,553 | 3,092 |
Provision for credit losses | (95) | 1,438 |
Charge-Offs | (1,056) | (1,566) |
Recoveries | 678 | 695 |
Net Charge-Offs | (378) | (871) |
Ending Balance | $ 3,080 | 3,063 |
Consumer [Member] | Impact of Adoption of ASC 326 [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | $ (596) |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Loan Portfolio Aging) (Details) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 5,362 | $ 5,871 |
Total Loans | 2,057,727 | 2,006,426 |
Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 2,622 | 4,594 |
Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 2,049,743 | 1,995,961 |
30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 2,159 | 2,743 |
60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 463 | 1,851 |
90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 413,819 | |
Nonaccrual loans | 150 | 161 |
Total Loans | 413,819 | 393,930 |
Commercial, Financial and Agricultural [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 113 | 318 |
Commercial, Financial and Agricultural [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 413,556 | 393,451 |
Commercial, Financial and Agricultural [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 55 | 194 |
Commercial, Financial and Agricultural [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 58 | 124 |
Commercial, Financial and Agricultural [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 138,104 | |
Nonaccrual loans | 179 | 179 |
Total Loans | 138,104 | 135,831 |
Real Estate - Construction [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 565 | 717 |
Real Estate - Construction [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 137,360 | 134,935 |
Real Estate - Construction [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 565 | 0 |
Real Estate - Construction [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 717 |
Real Estate - Construction [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 669,158 | |
Nonaccrual loans | 1,256 | 1,412 |
Total Loans | 669,158 | 648,393 |
Real Estate - Commercial Mortgage [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 183 | 293 |
Real Estate - Commercial Mortgage [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 667,719 | 646,688 |
Real Estate - Commercial Mortgage [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 183 | 293 |
Real Estate - Commercial Mortgage [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 365,931 | |
Nonaccrual loans | 3,150 | 3,130 |
Total Loans | 365,931 | 352,543 |
Real Estate - Residential [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 515 | 905 |
Real Estate - Residential [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 362,266 | 348,508 |
Real Estate - Residential [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 289 | 375 |
Real Estate - Residential [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 226 | 530 |
Real Estate - Residential [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 202,099 | |
Nonaccrual loans | 462 | 695 |
Total Loans | 202,099 | 205,479 |
Real Estate - Home Equity [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 355 | 463 |
Real Estate - Home Equity [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 201,282 | 204,321 |
Real Estate - Home Equity [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 355 | 325 |
Real Estate - Home Equity [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 138 |
Real Estate - Home Equity [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 268,616 | |
Nonaccrual loans | 165 | 294 |
Total Loans | 268,616 | 270,250 |
Consumer [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 891 | 1,898 |
Consumer [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 267,560 | 268,058 |
Consumer [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 712 | 1,556 |
Consumer [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 179 | 342 |
Consumer [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Recorded Investment In Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | $ 2,796 | $ 3,283 |
Nonaccrual With No Allowance Credit Loss | 2,566 | 2,588 |
90+ Days Still Accruing | 0 | 0 |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 150 | 161 |
Nonaccrual With No Allowance Credit Loss | 0 | 0 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 179 | 179 |
Nonaccrual With No Allowance Credit Loss | 0 | 0 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 199 | 337 |
Nonaccrual With No Allowance Credit Loss | 1,057 | 1,075 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 1,641 | 1,617 |
Nonaccrual With No Allowance Credit Loss | 1,509 | 1,513 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 462 | 695 |
Nonaccrual With No Allowance Credit Loss | 0 | 0 |
90+ Days Still Accruing | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 165 | 294 |
Nonaccrual With No Allowance Credit Loss | 0 | 0 |
90+ Days Still Accruing | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Collateral-dependent loans) (Details) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | $ 4,000 | $ 7,100 |
Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 3,949 | 7,141 |
Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 29 | 29 |
Commercial, Financial and Agricultural [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Commercial, Financial and Agricultural [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 1,113 | 3,900 |
Real Estate - Commercial Mortgage [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Real Estate - Residential [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 2,537 | 3,022 |
Real Estate - Residential [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Real Estate - Home Equity [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 299 | 219 |
Real Estate - Home Equity [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Consumer [Member] | Real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | 0 | 0 |
Consumer [Member] | Non real estate secured [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Collateral-dependent loans | $ 29 | $ 29 |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Loans held for investment by years of origination) (Details) $ in Thousands |
Mar. 31, 2021
USD ($)
|
---|---|
Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | $ 77,066 |
2020 | 188,700 |
2019 | 41,870 |
2018 | 32,998 |
2017 | 12,834 |
Prior | 21,765 |
Revolving Loans | 38,586 |
Total | 413,819 |
Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 14,429 |
2020 | 80,577 |
2019 | 31,776 |
2018 | 6,301 |
2017 | 1,570 |
Prior | 0 |
Revolving Loans | 3,451 |
Total | 138,104 |
Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 37,039 |
2020 | 163,186 |
2019 | 109,780 |
2018 | 130,354 |
2017 | 76,295 |
Prior | 127,786 |
Revolving Loans | 24,718 |
Total | 669,158 |
Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 42,692 |
2020 | 93,693 |
2019 | 61,300 |
2018 | 41,302 |
2017 | 38,520 |
Prior | 82,134 |
Revolving Loans | 6,290 |
Total | 365,931 |
Real Estate - Home Equity [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 39 |
2020 | 62 |
2019 | 358 |
2018 | 238 |
2017 | 767 |
Prior | 2,247 |
Revolving Loans | 198,388 |
Total | 202,099 |
Real Estate - Home Equity [Member] | Performing Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 39 |
2020 | 62 |
2019 | 358 |
2018 | 238 |
2017 | 767 |
Prior | 2,247 |
Revolving Loans | 197,926 |
Total | 201,637 |
Real Estate - Home Equity [Member] | Nonperforming Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 0 |
2018 | 0 |
2017 | 0 |
Prior | 0 |
Revolving Loans | 462 |
Total | 462 |
Consumer [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 30,721 |
2020 | 97,478 |
2019 | 61,593 |
2018 | 44,131 |
2017 | 20,304 |
Prior | 9,534 |
Revolving Loans | 4,855 |
Total | 268,616 |
Consumer [Member] | Performing Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 30,721 |
2020 | 97,423 |
2019 | 61,532 |
2018 | 44,126 |
2017 | 20,292 |
Prior | 9,502 |
Revolving Loans | 4,855 |
Total | 268,451 |
Consumer [Member] | Nonperforming Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 55 |
2019 | 61 |
2018 | 5 |
2017 | 12 |
Prior | 32 |
Revolving Loans | 0 |
Total | 165 |
Pass [Member] | Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 77,066 |
2020 | 188,688 |
2019 | 41,681 |
2018 | 32,674 |
2017 | 12,792 |
Prior | 21,622 |
Revolving Loans | 38,528 |
Total | 413,051 |
Pass [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 13,786 |
2020 | 80,577 |
2019 | 29,221 |
2018 | 6,301 |
2017 | 1,570 |
Prior | 0 |
Revolving Loans | 3,451 |
Total | 134,906 |
Pass [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 35,435 |
2020 | 158,436 |
2019 | 100,143 |
2018 | 115,971 |
2017 | 69,848 |
Prior | 111,707 |
Revolving Loans | 24,321 |
Total | 615,861 |
Pass [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 42,559 |
2020 | 92,152 |
2019 | 58,624 |
2018 | 39,575 |
2017 | 37,006 |
Prior | 78,360 |
Revolving Loans | 6,290 |
Total | 354,566 |
Special Mention [Member] | Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 189 |
2018 | 39 |
2017 | 4 |
Prior | 55 |
Revolving Loans | 0 |
Total | 287 |
Special Mention [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 643 |
2020 | 0 |
2019 | 2,376 |
2018 | 0 |
2017 | 0 |
Prior | 0 |
Revolving Loans | 0 |
Total | 3,019 |
Special Mention [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 4,161 |
2019 | 6,040 |
2018 | 14,296 |
2017 | 4,618 |
Prior | 13,143 |
Revolving Loans | 397 |
Total | 42,655 |
Special Mention [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 139 |
2019 | 23 |
2018 | 124 |
2017 | 173 |
Prior | 535 |
Revolving Loans | 0 |
Total | 994 |
Substandard [Member] | Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 12 |
2019 | 0 |
2018 | 285 |
2017 | 38 |
Prior | 88 |
Revolving Loans | 58 |
Total | 481 |
Substandard [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 0 |
2020 | 0 |
2019 | 179 |
2018 | 0 |
2017 | 0 |
Prior | 0 |
Revolving Loans | 0 |
Total | 179 |
Substandard [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 1,604 |
2020 | 589 |
2019 | 3,597 |
2018 | 87 |
2017 | 1,829 |
Prior | 2,936 |
Revolving Loans | 0 |
Total | 10,642 |
Substandard [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2021 | 133 |
2020 | 1,402 |
2019 | 2,653 |
2018 | 1,603 |
2017 | 1,341 |
Prior | 3,239 |
Revolving Loans | 0 |
Total | $ 10,371 |
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES, (Narratives) (Details) $ in Thousands |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Mar. 31, 2021
USD ($)
Contracts
|
Mar. 31, 2020
USD ($)
Contracts
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
|
Financing Receivable, Allowance for Credit Loss | $ 22,026 | $ 21,083 | $ 23,816 | $ 13,905 |
Provision for credit losses | (2,312) | 4,990 | ||
Net loan charge-offs | 522 | $ (1,081) | ||
Change in financing receivable allowance | (1,800) | |||
Accrued interest receivable | 7,200 | 6,900 | ||
TDRs | 14,300 | 14,300 | ||
TDRs performing in accordance with modified terms | 13,600 | 13,900 | ||
Estimated loan loss reserves | 700 | 600 | ||
Real estate loans for which formal foreclosure proceedings were in process | $ 1,200 | 1,600 | ||
Number of Contracts | Contracts | 2 | 1 | ||
Number of loan contracts classified as TDRs | Contracts | 0 | 2 | ||
TDRs, for which there was a payment default and the loans were modified within the twelve months prior to default | $ 100 | |||
Loan modified with a recorded investment | $ 400 | $ 200 | ||
Net deferred fees | 1,600 | |||
Loans and Leases Receivable net deferred costs | $ 100 | |||
CCHL [Member] | ||||
Payments to Purchase Mortgage Loans Held-for-sale | $ 22,200 | |||
Impact of Adoption of ASC 326 [Member] | ||||
Financing Receivable, Allowance for Credit Loss | $ 3,269 |
MORTGAGE BANKING ACTIVITIES (Unpaid principal balance of residential mortgage loans) (Details) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Other assets | $ 105,290 | $ 101,370 |
Other liabilities | 109,487 | 102,076 |
Loans held for sale, at fair value | 82,081 | 114,039 |
Residential Mortgage [Member] | ||
Loans held-for-sale | 79,903 | 109,831 |
Loans held for sale, at fair value | 82,081 | 114,039 |
Fair value | 86,419 | 117,957 |
Residential Mortgage [Member] | Loan Commitments (IRLCs) [Member] | ||
Other assets | 144,155 | 147,494 |
Other assets fair value | 2,982 | 4,825 |
Residential Mortgage [Member] | Forward Sales Contracts [Member] | ||
Other liabilities | 137,500 | 158,500 |
Other assets fair value | $ 1,356 | |
Other liabilities at fair value | $ (907) |
MORTGAGE BANKING ACTIVITIES (Mortgage banking revenue) (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Mortgage Servicing Rights Additions | $ 187 | |
Mortgage banking [Member] | ||
Net Realized Gains on Sales of Mortgage Loans | 14,424 | $ 3,407 |
Net Change in Unrealized Gain on Mortgage Loans Held for Sale | (2,031) | 738 |
Net Change in the Fair Value of Mortgage Loan Commitments (IRLCs) | (1,843) | 1,655 |
Net Change in the Fair Value of Forward Sales Contracts | 2,263 | (1,394) |
Pair-Offs on Net Settlement of Forward Sales Contracts | 3,310 | (1,376) |
Mortgage Servicing Rights Additions | 187 | 0 |
Net orignination fees | 815 | 223 |
Total mortgage banking revenues | $ 17,125 | $ 3,253 |
MORTGAGE BANKING ACTIVITIES (Summary of mortgage servicing rights) (Details) - Residential Mortgage [Member] $ in Thousands |
3 Months Ended | 12 Months Ended |
---|---|---|
Mar. 31, 2021
USD ($)
Contracts
|
Dec. 31, 2020
USD ($)
Contracts
|
|
Servicing Assets at Fair Value [Line Items] | ||
Number of residential mortgage loans serviced for others | Contracts | 1,800 | 1,796 |
Outstanding principal balance of residential mortgage loans serviced for others | $ | $ 454,382 | $ 456,135 |
Weighted average interest rate | 3.62% | 3.64% |
Remaining contractual term (in months) | 320 months | 321 months |
MORTGAGE BANKING ACTIVITIES (Capitalized mortgage servicing rights) (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Servicing Asset at Fair Value, Amount [Roll Forward | ||
Beginning Balance | $ 3,452 | $ 910 |
Additions due to loans sold with servicing retained | 187 | 25 |
Deletions and amortization | (306) | (25) |
Valuation Provision (temporary impairment) | 250 | 0 |
Ending Balance | $ 3,583 | $ 910 |
MORTGAGE BANKING ACTIVITIES (key unobservable inputs used in determining the fair value) (Details) - $ / LoanContracts |
3 Months Ended | 12 Months Ended |
---|---|---|
Mar. 31, 2021 |
Dec. 31, 2020 |
|
Maximum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount Rates | 15.00% | 15.00% |
Annual prepayment speeds | 24.96% | 23.64% |
Cost of Servicing (per loan) | 110 | 110 |
Minimum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount Rates | 11.00% | 11.00% |
Annual prepayment speeds | 9.60% | 13.08% |
Cost of Servicing (per loan) | 90 | 90 |
MORTGAGE BANKING ACTIVITIES (Warehouse Line Borrowings) (Details) - Warehouse Line Borrowings [Member] $ in Thousands |
3 Months Ended |
---|---|
Mar. 31, 2021
USD ($)
| |
Short-term Debt [Line Items] | |
Line of credit outstanding | $ 48,813 |
Line of credit agreement expiring Ocotber 2020 [Member] | |
Short-term Debt [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 |
Debt Instrument, Description of Variable Rate Basis | Interest is at LIBOR plus 2.25% |
Debt Instrument, Basis Spread on Variable Rate | 2.25% |
Floor rate | 3.50% |
Line of credit outstanding | $ 7,788 |
Cash pledge deposit | $ 100 |
Line of Credit Facility, Expiration Date | Oct. 31, 2021 |
Master Repurchase Agreement [Member] | |
Short-term Debt [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 50,000 |
Debt Instrument, Description of Variable Rate Basis | Interest is at the LIBOR plus 2.24% to 3.00% |
Floor rate | 3.25% |
Line of credit outstanding | $ 27,622 |
Cash pledge deposit | $ 500 |
Master Repurchase Agreement [Member] | Maximum [Member] | |
Short-term Debt [Line Items] | |
Debt Instrument, Basis Spread on Variable Rate | 3.00% |
Master Repurchase Agreement [Member] | Minimum [Member] | |
Short-term Debt [Line Items] | |
Debt Instrument, Basis Spread on Variable Rate | 2.24% |
Line of credit expiring September 2020 [Member] | |
Short-term Debt [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 50,000 |
Debt Instrument, Description of Variable Rate Basis | Interest is at the LIBOR plus 2.75% |
Debt Instrument, Basis Spread on Variable Rate | 2.75% |
Line of credit outstanding | $ 13,403 |
Line of Credit Facility, Expiration Date | Sep. 30, 2021 |
Line of credit expiring September 30, 2021 [Member] | |
Short-term Debt [Line Items] | |
Floor rate | 3.25% |
MORTGAGE BANKING ACTIVITIES (Narrative) (Details) - USD ($) |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
Dec. 31, 2020 |
|
Mortgage Banking Activities [Abstract] | |||
Residential mortgage loans held for sale that were 90 days or more outstanding | $ 400,000 | $ 600,000 | |
Percentage of FNMA loan type of total loans serviced | 63.00% | ||
Percentage of GNMA loan type of total loans serviced | 11.00% | ||
Percentage of Private Investor loan type of total loans serviced | 26.00% | ||
Weighted average prepayment speed | 14.16% | 17.10% | |
Warehouse lines of credit extended to CCHL | $ 50,000,000 | ||
Interest in CCHL subsidiary entity | 51.00% | ||
Balance of lines of credit receivable from CCHL | $ 29,700,000 | ||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | 0 | $ 0 | |
Government National Mortgage Association (GNMA) [Member] | Delinquent or defaulted mortgage loans [Member] | |||
Servicing Asset at Amortized Cost [Line Items] | |||
Servicing Asset at Amortized Cost | 2,900,000 | $ 4,900,000 | |
Payments to Acquire Mortgage Servicing Rights (MSR) | $ 1,500,000 |
DERIVATIVES (Cash flow hedges included in the Consolidated Statement of Financial Condition) (Details) - Interest rate swaps related to subordinated debt [Member] - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended |
---|---|---|
Mar. 31, 2021 |
Dec. 31, 2020 |
|
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 30,000 | $ 30,000 |
Fair Value | $ 2,699 | $ 574 |
Weighted average rate paid (fixed) | 2.50% | |
Weighted average maturity years | 9 years 3 months 18 days | 9 years 6 months |
LIBOR plus a weighted average margin | 1.83% |
DERIVATIVES (Net gains (losses) recorded in accumulated other comprehensive income) (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Dec. 31, 2020 |
|
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Collateral liability | $ 2,600 | $ 500 |
Interest rate product [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of Gain (Loss) Recognized in AOCI | 1,587 | |
Amount of Gain (Loss) Reclassified from AOCI to Income | (33) | |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 100 |
LEASES (Narrative) (Details) $ in Thousands |
3 Months Ended |
---|---|
Mar. 31, 2021
USD ($)
BankingOffices
| |
Lesse lease description [Line Items] | |
Lessee operating lease term of contract | 15 years |
Lesse operating lease description | Operating leases with an initial term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. |
Operating lease right of use asset | $ 11,800 |
Operating lease liabilties | $ 12,553 |
Lessee, Operating Lease, Lease Not yet Commenced, Description | Payments for the banking offices are expected to commence after the construction period ends, which is expected to occur during the second quarter of 2022 and the third quarter of 2022. |
Operating lease liabilities, not yet commenced | $ 4,800 |
Number of offices to lease | BankingOffices | 2 |
Lease payment transaction [Member] | |
Lesse lease description [Line Items] | |
Operating lease liabilties | $ 700 |
Operating lease, minimum annual payment | $ 200 |
Minimum [Member] | |
Lesse lease description [Line Items] | |
Remaining lease terms | 1 year |
Maximum [Member] | |
Lesse lease description [Line Items] | |
Remaining lease terms | 45 years |
LEASES (Lease expense and other information related to operating leases) (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Lease expenses: | ||
Operating lease expense | $ 344 | $ 156 |
Short term lease expense | 140 | 79 |
Total lease expense | 484 | 235 |
Other information related to leases [Abstract] | ||
Operating cash flows from operating leases | 385 | 160 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 75 | $ 5,092 |
Weighted-average remaining lease term - operating leases (in years) | 25 years 6 months | 15 years 4 months 24 days |
Weighted-average discount rate - operating leases | 2.10% | 2.40% |
LEASES (Maturity of remaining lease liabilities) (Details) $ in Thousands |
Mar. 31, 2021
USD ($)
|
---|---|
Summary of the maturity of remaining lease liabilities: | |
2021 | $ 1,158 |
2022 | 1,389 |
2023 | 995 |
2024 | 945 |
2025 | 771 |
2026 and thereafter | 11,132 |
Total | 16,390 |
Less: Interest | (3,837) |
Present Value of Lease Liabilities | $ 12,553 |
EMPLOYEE BENEFIT PLANS (Components of the net periodic benefit cost) (Details) - USD ($) |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Defined Benefit Pension Plan [Member] | ||
Components of Net Periodic Benefit Costs: | ||
Service Cost | $ 1,743,000 | $ 1,457,000 |
Interest Cost | 1,221,000 | 1,411,000 |
Expected Return on Plan Assets | (2,787,000) | (2,748,000) |
Prior Service Cost Amortization | 4,000 | 4,000 |
Net Loss Amortization | 1,691,000 | 1,011,000 |
Special Termination Charge | 0 | 61,000 |
Net Periodic Benefit Cost | $ 1,872,000 | $ 1,196,000 |
Discount Rate Used for Benefit Cost | 2.88% | 3.53% |
Long-Term Rate of Return on Assets | 6.75% | 7.00% |
Supplemental Executive Retirement Plan [Member] | ||
Components of Net Periodic Benefit Costs: | ||
Service Cost | $ 9,000 | $ 0 |
Interest Cost | 59,000 | 72,000 |
Prior Service Cost Amortization | 19,000 | 0 |
Net Loss Amortization | 198,000 | 247,000 |
Net Periodic Benefit Cost | $ 285,000 | $ 319,000 |
Discount Rate Used for Benefit Cost | 2.38% | 3.16% |
COMMITMENTS AND CONTINGENCIES (Company's off-balance sheet obligations) (Details) - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Loss Contingencies [Line Items] | ||
Fixed | $ 177,609 | $ 166,922 |
Variable | 599,387 | 596,572 |
Total | 776,996 | 763,494 |
Commitments to Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 170,898 | 160,372 |
Variable | 599,387 | 596,572 |
Total | 770,285 | 756,944 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 6,711 | 6,550 |
Variable | 0 | 0 |
Total | $ 6,711 | $ 6,550 |
COMMITMENTS AND CONTINGENCIES (Allowance for credit losses for off-balance sheet credit commitments) (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Beginning Balance | $ 1,644 | $ 157 |
Provision for Credit Losses | 1,330 | 0 |
Ending Balance | 2,974 | 1,033 |
Adoption of ASC 326 [Member] | ||
Beginning Balance | $ 0 | $ 876 |
COMMITMENTS AND CONTINGENCIES Narratives (Details) - USD ($) |
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2021 |
Dec. 31, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
|
Loss Contingencies [Line Items] | ||||
Loss Contingency Quarterly Accrual Payments until settled | $ 200,000 | |||
Off-Balance Sheet, Credit Loss, Liability | $ 2,974,000 | $ 1,644,000 | $ 1,033,000 | $ 157,000 |
FAIR VALUE MEASUREMENTS (Summary of fair values for assets and liabilities) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands |
Mar. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | $ 2,699 | $ 574 |
Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 1,356 | 0 |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | (907) | |
Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 2,982 | 4,825 |
Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 82,081 | 114,039 |
Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 4,019 | |
U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 173,116 | 104,519 |
U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 221,530 | 208,531 |
States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 4,308 | 3,632 |
Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 496 | 515 |
Equity Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 6,795 | 7,673 |
Level 1 Inputs [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 1 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 0 | |
Level 1 Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 1 Inputs [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 1 Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Level 1 Inputs [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 173,116 | 104,519 |
Level 1 Inputs [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 1 Inputs [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 1 Inputs [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 1 Inputs [Member] | Equity Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 2, Inputs [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 2,699 | 574 |
Level 2, Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 1,356 | 0 |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | (907) | |
Level 2, Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 2, Inputs [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 82,081 | 114,039 |
Level 2, Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Level 2, Inputs [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 2, Inputs [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 221,530 | 208,531 |
Level 2, Inputs [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 4,308 | 3,632 |
Level 2, Inputs [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 496 | 515 |
Level 2, Inputs [Member] | Equity Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 6,795 | 7,673 |
Level 3, Inputs [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 3, Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 0 | |
Level 3, Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 2,982 | 4,825 |
Level 3, Inputs [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 3, Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 4,019 | |
Level 3, Inputs [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 3, Inputs [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 3, Inputs [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 3, Inputs [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Level 3, Inputs [Member] | Equity Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS (Financial Instruments) (Details) - USD ($) |
Mar. 31, 2021 |
Dec. 31, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
---|---|---|---|---|
ASSETS: | ||||
Investment Securities, Available for Sale | $ 406,245,000 | $ 324,870,000 | ||
Investment securities, held to maturity, fair value | 204,158,000 | 175,175,000 | ||
Loans Held for Sale | 82,081,000 | 114,039,000 | ||
Mortgage Servicing Rights | 3,583,000 | 3,452,000 | $ 910,000 | $ 910,000 |
Loans, Net of Allowance for Credit Losses | 2,035,701,000 | 1,982,610,000 | ||
Fair value inputs, Level 1 [Member] | ||||
ASSETS: | ||||
Cash | 73,973,000 | 67,919,000 | ||
Short-Term Investments | 851,910,000 | 860,630,000 | ||
Investment Securities, Available for Sale | 173,116,000 | 104,519,000 | ||
Investment Securities, Held to Maturity | 0 | 5,014,000 | ||
Equity Securities | 0 | 0 | ||
Loans Held for Sale | 0 | 0 | ||
Interest Rate Swap Derivative | 0 | 0 | ||
Mortgage Servicing Rights | 0 | 0 | ||
Loans, Net of Allowance for Credit Losses | 0 | 0 | ||
LIABILITIES: | ||||
Deposits | 0 | 0 | ||
Short-Term Borrowings | 0 | 0 | ||
Subordinated Notes Payable | 0 | 0 | ||
Long-Term Borrowings | 0 | 0 | ||
Fair value inputs, Level 1 [Member] | Mortgage Banking Hedge Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 0 | |||
LIABILITIES: | ||||
Mortgage Banking Derivative Liability | 0 | |||
Fair value inputs, Level 1 [Member] | Mortgage Banking IRLC Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
ASSETS: | ||||
Cash | 0 | 0 | ||
Short-Term Investments | 0 | 0 | ||
Investment Securities, Available for Sale | 233,129,000 | 220,351,000 | ||
Investment Securities, Held to Maturity | 204,158,000 | 170,161,000 | ||
Equity Securities | 3,588,000 | 3,589,000 | ||
Loans Held for Sale | 82,081,000 | 114,039,000 | ||
Interest Rate Swap Derivative | 2,699,000 | 574,000 | ||
Mortgage Servicing Rights | 0 | 0 | ||
Loans, Net of Allowance for Credit Losses | 0 | 0 | ||
LIABILITIES: | ||||
Deposits | 3,358,015,000 | 3,217,615,000 | ||
Short-Term Borrowings | 55,687,000 | 79,654,000 | ||
Subordinated Notes Payable | 43,038,000 | 43,449,000 | ||
Long-Term Borrowings | 1,927,000 | 3,174,000 | ||
Fair Value, Inputs, Level 2 [Member] | Mortgage Banking Hedge Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 1,356,000 | |||
LIABILITIES: | ||||
Mortgage Banking Derivative Liability | 907,000 | |||
Fair Value, Inputs, Level 2 [Member] | Mortgage Banking IRLC Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
ASSETS: | ||||
Cash | 0 | 0 | ||
Short-Term Investments | 0 | 0 | ||
Investment Securities, Available for Sale | 0 | 0 | ||
Investment Securities, Held to Maturity | 0 | 0 | ||
Equity Securities | 0 | 0 | ||
Loans Held for Sale | 0 | 0 | ||
Interest Rate Swap Derivative | 0 | 0 | ||
Mortgage Servicing Rights | 4,019,000 | 3,451,000 | ||
Loans, Net of Allowance for Credit Losses | 2,036,010,000 | 1,990,740,000 | ||
LIABILITIES: | ||||
Deposits | 0 | 0 | ||
Short-Term Borrowings | 0 | 0 | ||
Subordinated Notes Payable | 0 | 0 | ||
Long-Term Borrowings | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Mortgage Banking Hedge Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 0 | |||
LIABILITIES: | ||||
Mortgage Banking Derivative Liability | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Mortgage Banking IRLC Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 2,982,000 | 4,825,000 | ||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ||||
ASSETS: | ||||
Cash | 73,973,000 | 67,919,000 | ||
Short-Term Investments | 851,910,000 | 860,630,000 | ||
Investment Securities, Available for Sale | 406,245,000 | 324,870,000 | ||
Investment Securities, Held to Maturity | 199,109,000 | 169,939,000 | ||
Equity Securities | 3,588,000 | 3,589,000 | ||
Loans Held for Sale | 82,081,000 | 114,039,000 | ||
Interest Rate Swap Derivative | 2,699,000 | 574,000 | ||
Mortgage Servicing Rights | 3,583,000 | 3,452,000 | ||
Loans, Net of Allowance for Credit Losses | 2,035,701,000 | 1,982,610,000 | ||
LIABILITIES: | ||||
Deposits | 3,358,108,000 | 3,217,560,000 | ||
Short-Term Borrowings | 55,687,000 | 79,654,000 | ||
Subordinated Notes Payable | 52,887,000 | 52,887,000 | ||
Long-Term Borrowings | 1,829,000 | 3,057,000 | ||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Mortgage Banking Hedge Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 1,356,000 | |||
LIABILITIES: | ||||
Mortgage Banking Derivative Liability | 907,000 | |||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Mortgage Banking IRLC Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | $ 2,982,000 | $ 4,825,000 |
FAIR VALUE MEASUREMENTS (Narratives) (Details) - USD ($) |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
Dec. 31, 2020 |
|
Fair Value measurements [Abstract] | |||
Level 3 issuances | $ 15,400,000 | $ 1,200,000 | |
Level 3 transfers | 10,500,000 | $ 1,800,000 | |
Collateral-dependent loans | 4,000,000.0 | $ 7,100,000 | |
Valuation allowance | 100,000 | $ 100,000 | |
valuation allowance for loan servicing rights | $ 0 |
OTHER COMPREHENSIVE INCOME (LOSS) (amounts allocated to other comprehensive income) (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Investment Securities Before Tax Amount [Abstract] | ||
Change in net unrealized gain (loss) on securities available for sale | $ (1,952) | $ 3,547 |
Amortization of unrealized losses on securities transferred from available for sale to held to maturity, before tax | 0 | 0 |
Total Investment Securities, Before Tax | 0 | 0 |
Change in net unrealized gain/loss on interest rate swap, before tax | 2,125 | 0 |
Benefit Plans: | ||
Reclassification adjustment for amortization of prior year service cost | 24 | 0 |
Current year actuarial gain | 166 | 0 |
Total Benefit Plans | 190 | 0 |
Total Other comprehensive (loss) income, before tax | 363 | 3,547 |
Benefit Plans: | ||
Total Other Comprehensive Income, Tax (Expense) Benefit | (92) | (899) |
Benefit Plans: | ||
Total Other Comprehensive Income, Net of Tax | $ 271 | $ 2,648 |
OTHER COMPREHENSIVE INCOME (LOSS) (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands |
3 Months Ended | |
---|---|---|
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Activity in accumulated other comprehensive loss, net of tax | ||
Balance, Begining | $ (44,142) | $ (28,181) |
Other comprehensive loss during the period | 271 | 2,648 |
Balance, Ending | (43,871) | (25,533) |
Interest Rate Swap [Member] | ||
Activity in accumulated other comprehensive loss, net of tax | ||
Balance, Begining | 428 | 0 |
Other comprehensive loss during the period | 1,587 | 0 |
Balance, Ending | 2,015 | 0 |
Securities Available for Sale [Member] | ||
Activity in accumulated other comprehensive loss, net of tax | ||
Balance, Begining | 2,700 | 864 |
Other comprehensive loss during the period | (1,458) | 2,648 |
Balance, Ending | 1,242 | 3,512 |
Retirement Plans [Member] | ||
Activity in accumulated other comprehensive loss, net of tax | ||
Balance, Begining | (47,270) | (29,045) |
Other comprehensive loss during the period | 142 | 0 |
Balance, Ending | $ (47,128) | $ (29,045) |
MAC""!9)=:$R[93M2B*_PIXQ)6_P.D6[R
M8TQ$\53V(I:#6EJI_+2X=&HN'267#V2W9]0P[9B/I^-)6T:'(P9I:_S ]Y,97<6:L41TR*W:6CY?,
M> 40L_%]64.!;VS)$Z[/M$313P$2A-Z>AYMU#Y)[(>\(%',>XE1Z0,YR\>79
M$00=B:@<7/Q9@>3$>$3Q^_VDD8O3K.U-L=?4CE> $=CD=HVJ<2NL9=CU',9D
M7?S8Y9J\PY/ZTLI^1 \Y,<^CZS:3!2; )6[*6!"W4LAP:5??D \AV3?XACGS)[-;B32HZ(%%CJJYD
MM-]UH]);4NG\,5D[S?N880@P>6N=!IV5O!*]GU- H,*L*U<'F"E5)BCD\&X?
MW:0#;%-N*COG793H!Q0R V-W0%/8*_VN>["XZAY72)TQ!+ 2C0=09S2NJF2S\%TV2$YJ8UXM,
M/2C+M:P/\\B3)G-?PLG_O5IN1LU0S*LS[VO+"?L[0XN3QO[MV5E^=B6V=IP>]*
M5&WSG)6_ACP3KQ
?7&$*=SC"9UA:I[15!\H?FA4
M >=&/\%,0%]5+59:[JLJG+C_K.M7YM,.RRMC%5%
MO1D:%++TO_Q'[8?6ADEX9$-<;XB=WOX@I^5[;OGYJ59;IFDUI-,]7MAG*R
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M@S7:4[GB)4MS96 RA/(R.]S1'#J??_[B$]+['J
"ECN8TG(E2V[)!=Z>6FWRLDR]
M*QY(HBHA$P/B00KH4OZ 9S2VOFPBN<(PK@5;B_R(&_R:@C^R1;V,'"%QH+$@
M/MMK?+S13A>2YMRD)3$HRS0831NFECM#/%="XTH
RQV[<1@.7FMJ[VAJE*AVS6S4
MI(_ZJ1T@_6X_?J?MU/DOO)W=)&=7T#T+W!+4/Q_JAV'K:.D?MF!FVDH8G6
MF#G]0E#9 #K?2FE>')N@_RE-?@%02P,$% @ &H*>4JK]KLE,!0 OPP
M !D !X;"]W;W)KC/?:..OQ'T=[1
M+OR-QX[W0II"3*577MB%N'/DR009"^?OR=P'A_+Y9X^_X\[?1WO,/?K0R-
M(_;QM287'?AMM.ZUPIUZYFN9TT56R&H.'3P?6AXGN6S^(79TR4OTR=R'-NR642.9<?$N;<:S0