Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 02, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 1-12709 | |
Entity Registrant Name | Tompkins Financial Corp | |
Entity Incorporation, State or Country Code | NY | |
Entity Tax Identification Number | 16-1482357 | |
Entity Address, Address Line One | P.O. Box 460 | |
Entity Address, City or Town | Ithaca | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 14851 | |
City Area Code | 888 | |
Local Phone Number | 503-5753 | |
Title of 12(b) Security | Common Stock, $0.10 par value | |
Trading Symbol | TMP | |
Security Exchange Name | NYSEAMER | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 14,659,195 | |
Entity Central Index Key | 0001005817 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 |
CONSOLIDATED STATEMENTS OF COND
CONSOLIDATED STATEMENTS OF CONDITION - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and noninterest bearing balances due from banks | $ 22,441,000 | $ 21,245,000 |
Interest bearing balances due from banks | 311,046,000 | 367,217,000 |
Cash and Cash Equivalents | 333,487,000 | 388,462,000 |
Available-for-sale debt securities, at fair value (amortized cost of $2,072,498 at September 30, 2021 and $1,599,894 at December 31, 2020) | 2,066,927,000 | 1,627,193,000 |
Held-to-maturity securities, at amortized cost (fair value of $268,283 at September 30, 2021 and $0 December 31, 2020) | 269,268,000 | 0 |
Equity securities, at fair value (amortized cost $910 at September 30, 2021 and $929 at December 31, 2020) | 910,000 | 929,000 |
Total loans and leases, net of unearned income and deferred costs and fees | 5,096,778,000 | 5,260,327,000 |
Less: Allowance for credit losses | 46,259,000 | 51,669,000 |
Net Loans and Leases | 5,050,519,000 | 5,208,658,000 |
Federal Home Loan Bank and other stock | 10,366,000 | 16,382,000 |
Bank premises and equipment, net | 85,955,000 | 88,709,000 |
Corporate owned life insurance | 86,094,000 | 84,736,000 |
Goodwill | 92,447,000 | 92,447,000 |
Other intangible assets, net | 3,989,000 | 4,905,000 |
Accrued interest and other assets | 113,148,000 | 109,750,000 |
Total Assets | 8,113,110,000 | 7,622,171,000 |
Interest bearing: | ||
Checking, savings and money market | 4,211,732,000 | 3,761,933,000 |
Time | 675,499,000 | 746,234,000 |
Noninterest bearing | 2,203,667,000 | 1,929,585,000 |
Total Deposits | 7,090,898,000 | 6,437,752,000 |
Federal funds purchased and securities sold under agreements to repurchase | 72,490,000 | 65,845,000 |
Other borrowings | 110,000,000 | 265,000,000 |
Trust preferred debentures | 0 | 13,220,000 |
Other liabilities | 117,365,000 | 122,665,000 |
Total Liabilities | 7,390,753,000 | 6,904,482,000 |
Tompkins Financial Corporation shareholders' equity: | ||
Common Stock - par value $0.10 per share: Authorized 25,000,000 shares; Issued: 14,695,105 at September 30, 2021; and 14,964,389 at December 31, 2020 | 1,470,000 | 1,496,000 |
Additional paid-in capital | 315,957,000 | 333,976,000 |
Retained earnings | 464,152,000 | 418,413,000 |
Accumulated other comprehensive loss | (55,094,000) | (32,074,000) |
Treasury stock, at cost – 122,824 shares at September 30, 2021, and 124,849 shares at December 31, 2020 | (5,634,000) | (5,534,000) |
Total Tompkins Financial Corporation Shareholders’ Equity | 720,851,000 | 716,277,000 |
Noncontrolling interests | 1,506,000 | 1,412,000 |
Total Equity | 722,357,000 | 717,689,000 |
Total Liabilities and Equity | $ 8,113,110,000 | $ 7,622,171,000 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Available-for-sale securities, at amortized cost | $ 2,072,498 | $ 1,599,894 |
Securities - held-to-maturity | 268,283 | 0 |
Equity securities, at amortized cost | $ 910 | $ 929 |
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Common stock, authorized (in shares) | 25,000,000 | 25,000,000 |
Common stock, issued (in shares) | 14,695,105 | 14,964,389 |
Treasury stock, shares (in shares) | 122,824 | 124,849 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans | $ 53,738 | $ 57,892 | $ 161,598 | $ 169,639 |
Due from banks | 136 | 83 | 266 | 90 |
Available-for-sale debt securities | 6,312 | 6,035 | 17,188 | 20,101 |
Held-to-maturity securities | 732 | 0 | 1,044 | 0 |
Federal Home Loan Bank and other stock | 196 | 306 | 608 | 1,130 |
Interest income | 61,114 | 64,316 | 180,704 | 190,960 |
INTEREST EXPENSE | ||||
Time certificates of deposits of $250,000 or more | 518 | 755 | 1,724 | 2,458 |
Other deposits | 2,088 | 3,450 | 6,835 | 13,723 |
Federal funds purchased and securities sold under agreements to repurchase | 17 | 19 | 48 | 76 |
Trust preferred debentures | 1,237 | 216 | 2,233 | 758 |
Other borrowings | 1,156 | 1,623 | 3,883 | 6,357 |
Total Interest Expense | 5,016 | 6,063 | 14,723 | 23,372 |
Net Interest Income | 56,098 | 58,253 | 165,981 | 167,588 |
Less: (Credit) provision for credit loss expense | (1,232) | (218) | (6,133) | 17,418 |
Net Interest Income After Provision for Credit Loss Expense | 57,330 | 58,471 | 172,114 | 150,170 |
NONINTEREST INCOME | ||||
Insurance commissions and fees | 9,833 | 8,916 | 27,053 | 24,216 |
Investment services income | 4,957 | 4,292 | 14,347 | 12,414 |
Service charges on deposit accounts | 1,638 | 1,444 | 4,579 | 4,675 |
Card services income | 2,717 | 2,419 | 8,051 | 6,885 |
Other income | 1,769 | 1,818 | 5,408 | 6,388 |
Net (loss) gain on securities transactions | (60) | (2) | 257 | 446 |
Total Noninterest Income | 20,854 | 18,887 | 59,695 | 55,024 |
NONINTEREST EXPENSE | ||||
Salaries and wages | 24,825 | 23,951 | 71,477 | 69,482 |
Other employee benefits | 5,777 | 6,690 | 17,887 | 18,260 |
Net occupancy expense of premises | 3,019 | 3,162 | 10,042 | 9,530 |
Furniture and fixture expense | 2,066 | 1,886 | 6,220 | 5,759 |
Amortization of intangible assets | 329 | 371 | 988 | 1,120 |
Other operating expense | 14,164 | 10,706 | 35,519 | 33,553 |
Total Noninterest Expenses | 50,180 | 46,766 | 142,133 | 137,704 |
Income Before Income Tax Expense | 28,004 | 30,592 | 89,676 | 67,490 |
Income Tax Expense | 6,630 | 6,330 | 19,781 | 13,779 |
Net Income Attributable to Noncontrolling Interests and Tompkins Financial Corporation | 21,374 | 24,262 | 69,895 | 53,711 |
Less: Net Income Attributable to Noncontrolling Interests | 32 | 32 | 96 | 101 |
Net Income Attributable to Tompkins Financial Corporation | $ 21,342 | $ 24,230 | $ 69,799 | $ 53,610 |
Basic Earnings Per Share (in dollars per share) | $ 1.46 | $ 1.63 | $ 4.74 | $ 3.60 |
Diluted Earnings Per Share (in dollars per share) | $ 1.45 | $ 1.63 | $ 4.72 | $ 3.59 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income attributable to noncontrolling interests and Tompkins Financial Corporation | $ 21,374 | $ 24,262 | $ 69,895 | $ 53,711 |
Available-for-sale debt securities: | ||||
Change in net unrealized loss during the period | (7,852) | (3,303) | (24,609) | 18,563 |
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | 41 | 0 | (208) | (324) |
Employee benefit plans: | ||||
Amortization of net retirement plan actuarial loss | 557 | 447 | 1,671 | 1,340 |
Amortization of net retirement plan prior service cost | 42 | 40 | 126 | 121 |
Other comprehensive (loss) income | (7,212) | (2,816) | (23,020) | 19,700 |
Subtotal comprehensive income attributable to noncontrolling interests and Tompkins Financial Corporation | 14,162 | 21,446 | 46,875 | 73,411 |
Less: Net income attributable to noncontrolling interests | (32) | (32) | (96) | (101) |
Total comprehensive income attributable to Tompkins Financial Corporation | $ 14,130 | $ 21,414 | $ 46,779 | $ 73,310 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
OPERATING ACTIVITIES | ||
Net income attributable to Tompkins Financial Corporation | $ 69,799 | $ 53,610 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
(Credit) provision for credit loss expense | (6,133) | 17,418 |
Depreciation and amortization of premises, equipment, and software | 7,696 | 7,654 |
Amortization of intangible assets | 988 | 1,120 |
Earnings from corporate owned life insurance | (1,478) | (1,617) |
Net amortization on securities | 9,360 | 7,233 |
Amortization/accretion related to purchase accounting | 1,187 | (743) |
Net gain on securities transactions | (257) | (446) |
Penalties on prepayment of FHLB borrowings | 2,929 | 0 |
Net gain on sale of loans originated for sale | (878) | (1,245) |
Proceeds from sale of loans originated for sale | 28,623 | 36,568 |
Loans originated for sale | (23,378) | (38,484) |
Net loss (gain) on sale of bank premises and equipment | 11 | (3) |
Net excess tax benefit from stock based compensation | 346 | 118 |
Stock-based compensation expense | 3,845 | 3,372 |
Decrease (increase) in accrued interest receivable | 8,675 | (18,919) |
Decrease in accrued interest payable | (827) | (785) |
Other, net | (9,154) | (3,535) |
Net Cash Provided by Operating Activities | 91,354 | 61,316 |
INVESTING ACTIVITIES | ||
Proceeds from maturities, calls and principal paydowns of available-for-sale debt securities | 377,593 | 405,886 |
Proceeds from sales of available-for-sale debt securities | 142,679 | 42,333 |
Purchases of available-for-sale debt securities | (1,002,004) | (799,039) |
Purchases of held-to-maturity securities | (269,225) | 0 |
Net decrease (increase) in loans | 160,532 | (478,455) |
Proceeds from sale/redemptions of Federal Home Loan Bank stock | 9,182 | 41,169 |
Purchases of Federal Home Loan Bank and other stock | (3,166) | (25,393) |
Proceeds from sale of bank premises and equipment | 63 | 4 |
Purchases of bank premises, equipment and software | (3,315) | (2,894) |
Redemption of corporate owned life insurance | 169 | 446 |
Other, net | 124 | 398 |
Net Cash Used in Investing Activities | (587,368) | (815,545) |
FINANCING ACTIVITIES | ||
Net increase in demand, money market, and savings deposits | 723,881 | 1,356,930 |
Net (decrease) increase in time deposits | (70,358) | 31,856 |
Net decrease in Federal funds purchased and securities sold under agreements to repurchase | 6,645 | 3,227 |
Increase in other borrowings | 0 | 74,583 |
Repayment of other borrowings | (157,929) | (447,683) |
Redemption of trust preferred debentures | (15,150) | 0 |
Cash dividends | (24,060) | (23,296) |
Repurchase of common stock | (21,177) | (5,620) |
Shares issued for dividend reinvestment plan | 2 | 1,529 |
Net shares issued related to restricted stock awards | (122) | (292) |
Net proceeds from exercise of stock options | (693) | (248) |
Net Cash Provided by Financing Activities | 441,039 | 990,986 |
Net (Decrease) Increase in Cash and Cash Equivalents | (54,975) | 236,757 |
Cash and cash equivalents at beginning of period | 388,462 | 137,982 |
Total Cash and Cash Equivalents at End of Period | 333,487 | 374,739 |
Supplemental Information: | ||
Cash paid during the year for - Interest | 15,935 | 24,626 |
Cash paid during the year for - Taxes | 23,386 | 16,243 |
Transfer of loans to other real estate owned | 46 | 192 |
Initial recognition of operating lease right-of-use assets | 1,072 | 0 |
Initial recognition of operating lease liabilities | 1,072 | 0 |
Right-of-use assets obtained in exchange for new lease liabilities | $ 1,204 | $ 1,230 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Cumulative Effect, Period of Adoption, Adjustment | Common Stock | Additional Paid-in Capital | Retained Earnings | Retained EarningsCumulative Effect, Period of Adoption, Adjustment | Accumulated Other Comprehensive (Loss) Income | Treasury Stock | Non- controlling Interests |
Beginning balances at Dec. 31, 2019 | $ 663,054 | $ 1,707 | $ 1,501 | $ 338,507 | $ 370,477 | $ 1,707 | $ (43,564) | $ (5,279) | $ 1,412 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income attributable to noncontrolling interests and Tompkins Financial Corporation | 53,711 | 53,610 | 101 | ||||||
Other comprehensive income (loss) | 19,700 | 19,700 | |||||||
Subtotal comprehensive income attributable to noncontrolling interests and Tompkins Financial Corporation | 73,411 | ||||||||
Cash dividends | (23,296) | (23,296) | |||||||
Net exercise of stock options | (248) | (248) | |||||||
Common stock repurchased and returned to unissued status | (5,620) | (7) | (5,613) | ||||||
Shares issued for dividend reinvestment plan | 1,529 | 2 | 1,527 | ||||||
Stock-based compensation expense | 3,372 | 3,372 | |||||||
Directors deferred compensation plan | 0 | 76 | (76) | ||||||
Restricted stock activity | (292) | (292) | |||||||
Partial repurchase of noncontrolling interest | (6) | (6) | |||||||
Ending balances at Sep. 30, 2020 | 713,611 | 1,496 | 337,329 | 402,498 | (23,864) | (5,355) | 1,507 | ||
Beginning balances at Jun. 30, 2020 | 698,029 | 1,495 | 335,268 | 386,025 | (21,048) | (5,187) | 1,476 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income attributable to noncontrolling interests and Tompkins Financial Corporation | 24,262 | 24,230 | 32 | ||||||
Other comprehensive income (loss) | (2,816) | (2,816) | |||||||
Subtotal comprehensive income attributable to noncontrolling interests and Tompkins Financial Corporation | 21,446 | ||||||||
Cash dividends | (7,757) | (7,757) | |||||||
Net exercise of stock options | (32) | 0 | (32) | ||||||
Shares issued for dividend reinvestment plan | 848 | 1 | 847 | ||||||
Stock-based compensation expense | 1,078 | 1,078 | |||||||
Directors deferred compensation plan | 0 | 168 | (168) | ||||||
Restricted stock activity | 0 | 0 | |||||||
Partial repurchase of noncontrolling interest | (1) | (1) | |||||||
Ending balances at Sep. 30, 2020 | 713,611 | 1,496 | 337,329 | 402,498 | (23,864) | (5,355) | 1,507 | ||
Beginning balances at Dec. 31, 2020 | 717,689 | 1,496 | 333,976 | 418,413 | (32,074) | (5,534) | 1,412 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income attributable to noncontrolling interests and Tompkins Financial Corporation | 69,895 | 69,799 | 96 | ||||||
Other comprehensive income (loss) | (23,020) | (23,020) | |||||||
Subtotal comprehensive income attributable to noncontrolling interests and Tompkins Financial Corporation | 46,875 | ||||||||
Cash dividends | (24,060) | (24,060) | |||||||
Net exercise of stock options | (693) | 1 | (694) | ||||||
Common stock repurchased and returned to unissued status | (21,177) | (27) | (21,150) | ||||||
Shares issued for dividend reinvestment plan | 2 | 0 | 2 | ||||||
Stock-based compensation expense | 3,845 | 3,845 | |||||||
Directors deferred compensation plan | 0 | 100 | (100) | ||||||
Restricted stock activity | (122) | (122) | |||||||
Partial repurchase of noncontrolling interest | (2) | (2) | |||||||
Ending balances at Sep. 30, 2021 | 722,357 | 1,470 | 315,957 | 464,152 | (55,094) | (5,634) | 1,506 | ||
Beginning balances at Jun. 30, 2021 | 728,253 | 1,487 | 327,881 | 450,773 | (47,882) | (5,480) | 1,474 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income attributable to noncontrolling interests and Tompkins Financial Corporation | 21,374 | 21,342 | 32 | ||||||
Other comprehensive income (loss) | (7,212) | (7,212) | |||||||
Subtotal comprehensive income attributable to noncontrolling interests and Tompkins Financial Corporation | 14,162 | ||||||||
Cash dividends | (7,963) | (7,963) | |||||||
Net exercise of stock options | (190) | (190) | |||||||
Common stock repurchased and returned to unissued status | (13,194) | (17) | (13,177) | ||||||
Stock-based compensation expense | 1,411 | 1,411 | |||||||
Directors deferred compensation plan | 0 | 154 | (154) | ||||||
Restricted stock activity | (122) | (122) | |||||||
Ending balances at Sep. 30, 2021 | $ 722,357 | $ 1,470 | $ 315,957 | $ 464,152 | $ (55,094) | $ (5,634) | $ 1,506 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividends (in dollars per share) | $ 0.54 | $ 0.52 | $ 1.62 | $ 1.56 |
Net exercise of stock options (in shares) | 3,276 | 417 | 11,386 | 3,605 |
Common stock repurchased and returned to unissued status (in shares) | 170,775 | 272,310 | 71,288 | |
Shares issued for dividend reinvestment plan (in shares) | 12,723 | 32 | 24,752 | |
Directors deferred compensation plan (in shares) | 1,977 | 2,776 | 2,025 | 2,088 |
Restricted stock activity (in shares) | 3,179 | 1,346 | 8,392 | 9,406 |
Business
Business | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business | Business Tompkins Financial Corporation (“Tompkins” or the “Company”) is headquartered in Ithaca, New York and is registered as a Financial Holding Company with the Federal Reserve Board under the Bank Holding Company Act of 1956, as amended. The Company is a locally oriented, community-based financial services organization that offers a full array of products and services, including commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance services. At September 30, 2021, the Company had four wholly-owned banking subsidiaries: Tompkins Trust Company (the “Trust Company”), The Bank of Castile (DBA Tompkins Bank of Castile), Mahopac Bank (DBA Tompkins Mahopac Bank), and VIST Bank (DBA Tompkins VIST Bank). The Company’s banks have announced plans for a rebranding effort, pursuant to which the Company’s four wholly-owned banking subsidiaries will be combined into one bank, with The Bank of Castile, Mahopac Bank, and VIST Bank merging with and into Tompkins Trust Company. The Company has received all applicable regulatory approvals, and the combined bank will conduct business under the “Tompkins” brand name, with a legal name of “Tompkins Community Bank.” The Company also has a wholly-owned insurance agency subsidiary, Tompkins Insurance Agencies, Inc. (“Tompkins Insurance”). The Trust Company provides a full array of trust and investment services under the Tompkins Financial Advisors brand, including investment management, trust and estate, financial and tax planning as well as life, disability and long-term care insurance services. The Company’s principal offices are located at 118 E. Seneca Street, Ithaca, New York, 14850, and its telephone number is (888) 503-5753. The Company’s common stock is traded on the NYSE American under the symbol “TMP.” As a registered financial holding company, the Company is regulated under the Bank Holding Company Act of 1956 (“BHC Act”), as amended and is subject to examination and comprehensive regulation by the Federal Reserve Board (“FRB”). The Company is also subject to the jurisdiction of the Securities and Exchange Commission (“SEC”) and is subject to disclosure and regulatory requirements under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. The Company is subject to the rules of the NYSE American for listed companies. The Company’s banking subsidiaries are subject to examination and comprehensive regulation by various regulatory authorities, including the Federal Deposit Insurance Corporation (“FDIC”), the New York State Department of Financial Services (“NYSDFS”), and the Pennsylvania Department of Banking and Securities (“PDBS”). Each of these agencies issues regulations and requires the filing of reports describing the activities and financial condition of the entities under its jurisdiction. Likewise, such agencies conduct examinations on a recurring basis to evaluate the safety and soundness of the institutions, and to test compliance with various regulatory requirements, including: consumer protection, privacy, fair lending, the Community Reinvestment Act, the Bank Secrecy Act, sales of non-deposit investments, electronic data processing, and trust department activities. The trust division of Tompkins Trust Company is subject to examination and comprehensive regulation by the FDIC and NYSDFS. The Company’s insurance subsidiary is subject to examination and regulation by the NYSDFS and the Pennsylvania Insurance Department. |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The unaudited consolidated financial statements included in this quarterly report do not include all of the information and footnotes required by U.S. Generally Accepted Accounting Principles ("GAAP") for a full year presentation and certain disclosures have been condensed or omitted in accordance with rules and regulations of the SEC. In the application of certain accounting policies, management is required to make assumptions regarding the effect of matters that are inherently uncertain. These estimates and assumptions affect the reported amounts of certain assets, liabilities, revenues, and expenses in the unaudited consolidated financial statements. Different amounts could be reported under different conditions, or if different assumptions were used in the application of these accounting policies. The accounting policies that management considers critical in this respect are the determination of the allowance for credit losses and the review of its securities portfolio for other than temporary impairment. In management’s opinion, the unaudited consolidated financial statements reflect all adjustments of a normal recurring nature. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year ended December 31, 2021. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Cash and cash equivalents in the consolidated statements of cash flow include cash and noninterest bearing balances due from banks, interest-bearing balances due from banks, and money market funds. Management regularly evaluates the credit risk associated with the counterparties to these transactions and believes that the Company is not exposed to any significant credit risk on cash and cash equivalents. The consolidated financial information included herein combines the results of operations, the assets, liabilities, and shareholders’ equity of the Company and its subsidiaries. Amounts in the prior periods’ unaudited consolidated financial statements are reclassified when necessary to conform to the current periods’ presentation. All significant intercompany balances and transactions are eliminated in consolidation. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Securities Available-for-Sale Debt Securities The following table summarizes available-for-sale debt securities held by the Company at September 30, 2021: Available-for-Sale Debt Securities September 30, 2021 Amortized Gross Gross Fair Value (In thousands) U.S. Treasuries $ 140,373 $ 2 $ 1,447 $ 138,928 Obligations of U.S. Government sponsored entities 813,833 6,001 9,491 810,343 Obligations of U.S. states and political subdivisions 107,912 2,144 145 109,911 Mortgage-backed securities – residential, issued by U.S. Government agencies 88,135 1,607 422 89,320 U.S. Government sponsored entities 919,745 8,267 12,008 916,004 U.S. corporate debt securities 2,500 0 79 2,421 Total available-for-sale debt securities $ 2,072,498 $ 18,021 $ 23,592 $ 2,066,927 The following table summarizes available-for-sale debt securities held by the Company at December 31, 2020: Available-for-Sale Debt Securities December 31, 2020 Amortized Gross Gross Fair Value (In thousands) Obligations of U.S. Government sponsored entities $ 599,652 $ 9,820 $ 1,992 $ 607,480 Obligations of U.S. states and political subdivisions 126,642 3,144 40 129,746 Mortgage-backed securities – residential, issued by U.S. Government agencies 179,538 3,216 646 182,108 U.S. Government sponsored entities 691,562 14,593 675 705,480 U.S. corporate debt securities 2,500 0 121 2,379 Total available-for-sale debt securities $ 1,599,894 $ 30,773 $ 3,474 $ 1,627,193 Held-to-Maturity Debt Securities The following table summarizes held-to-maturity debt securities held by the Company at September 30, 2021: Held-to-Maturity Securities September 30, 2021 Amortized Gross Gross Fair Value (In thousands) U.S. Treasuries $ 86,740 $ 321 $ 630 $ 86,431 Obligations of U.S. Government sponsored entities 182,528 793 1,469 181,852 Total held-to-maturity debt securities $ 269,268 $ 1,114 $ 2,099 $ 268,283 There were no held-to-maturity debt securities at December 31, 2020. The available-for-sale portfolio also includes callable securities that may be called by the issuer prior to maturity. The Company may from time to time sell debt securities from its available-for-sale portfolio. Realized gains on sales of available-for-sale debt securities were $797,000 and $1.1 million for the three and nine months ended September 30, 2021 and $0 and $178,000 for the three and nine months ended September 30, 2020. Realized losses on available-for-sale debt securities were $851,000 for the three and nine months ended September 30, 2021 and $0 for the three and nine months ended September 30, 2020. Proceeds from the sale of available-for-sale debt securities were $103.8 million and $142.7 million for the three and nine months ended September 30, 2021, and $0 and $42.3 million for the three and nine months ended September 30, 2020. Sales of available-for-sale investment securities were the result of general investment portfolio and interest rate risk management. The Company's investment portfolio includes callable securities that may be called prior to maturity. There were no realized gains or losses on called available-for-sale debt securities for the three and nine months ended September 30, 2021. Realized gains on called available-for-sale debt securities were $0 and $251,000 for the three and nine months ended September 30, 2020 . The Company also recognized net losses of $6,000 and $18,000 for the three and nine months ended September 30, 2021, and net losses of $2,000 and net gains of $17,000 for the three and nine months ended September 30, 2020 on equity securities, reflecting the change in fair value. The following table summarizes available-for-sale debt securities that had unrealized losses at September 30, 2021 , and December 31, 2020. Less than 12 Months 12 Months or Longer Total (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasuries $ 137,935 $ 1,447 $ 0 $ 0 $ 137,935 $ 1,447 Obligations of U.S. Government sponsored entities 326,852 3,879 276,710 5,612 603,562 9,491 Obligations of U.S. states and political subdivisions 14,192 126 1,281 19 15,473 145 Mortgage-backed securities – residential, issued by U.S. Government agencies 34,808 405 1,285 17 36,093 422 U.S. Government sponsored entities 609,541 10,743 33,837 1,265 643,378 12,008 U.S. corporate debt securities 0 0 2,421 79 2,421 79 Total available-for-sale debt securities $ 1,123,328 $ 16,600 $ 315,534 $ 6,992 $ 1,438,862 $ 23,592 Less than 12 Months 12 Months or Longer Total (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. Government sponsored entities $ 310,711 $ 1,992 $ 0 $ 0 $ 310,711 $ 1,992 Obligations of U.S. states and political subdivisions 8,868 40 0 0 8,868 40 Mortgage-backed securities – residential, issued by U.S. Government agencies 10,560 396 1,819 250 12,379 646 U.S. Government sponsored entities 87,643 586 5,068 89 92,711 675 U.S. corporate debt securities 0 0 2,379 121 2,379 121 Total available-for-sale debt securities $ 417,782 $ 3,014 $ 9,266 $ 460 $ 427,048 $ 3,474 The following table summarizes held-to-maturity debt securities that had unrealized losses at September 30, 2021 . Less than 12 Months 12 Months or Longer Total (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasuries $ 35,277 $ 630 $ 0 $ 0 $ 35,277 $ 630 Obligations of U.S. Government sponsored entities 79,986 1,469 $ 0 $ 0 $ 79,986 1,469 Total held-to-maturity debt securities $ 115,263 $ 2,099 $ 0 $ 0 $ 115,263 $ 2,099 There were no held-to-maturity debt securities at December 31, 2020. The Company evaluates available-for-sale debt securities for expected credit losses (“ECL”) in unrealized loss positions at each measurement date to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or noncredit-related factors. Factors that may be indicative of ECL include, but are not limited to, the following: • Extent to which the fair value is less than the amortized cost basis. • Adverse conditions specifically related to the security, an industry, or geographic area (changes in technology, business practice). • Payment structure of the debt security with respect to underlying issuer or obligor. • Failure of the issuer to make scheduled payment of principal and/or interest. • Changes to the rating of a security or issuer by a nationally recognized statistical rating organization. • Changes in tax or regulatory guidelines that impact a security or underlying issuer. For available-for-sale debt securities in an unrealized loss position, the Company evaluates the securities to determine whether the decline in the fair value below the amortized cost basis (technical impairment) is the result of changes in interest rates or reflects a fundamental change in the credit worthiness of the underlying issuer. Any impairment that is not credit related is recognized in other comprehensive income, net of applicable taxes. Credit-related impairment is recognized as an allowance for credit losses (“ACL”) on the Statement of Condition, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Both the ACL and the adjustment to net income may be reversed if conditions change. The gross unrealized losses reported for residential mortgage-backed securities relate to investment securities issued by U.S. government sponsored entities such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, and U.S. government agencies such as Government National Mortgage Association. The total gross unrealized losses, shown in the tables above, were primarily attributable to changes in interest rates and levels of market liquidity, relative to when the investment securities were purchased, and not due to the credit-related quality of the investment securities. The Company does not have the intent to sell these securities and does not believe it is more likely than not that the Company will be required to sell these securities before a recovery of amortized cost. Management measures expected credit losses on held-to-maturity debt securities on a collective basis by major security type with each type sharing similar risk characteristics and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Management has made the accounting policy election to exclude accrued interest receivable on held-to-maturity debt securities from the estimate of credit losses. As of September 30, 2021, the held-to-maturity portfolio consisted of U.S. Treasury securities and securities issued by U.S. government-sponsored enterprises, including The Federal National Mortgage Agency and the Federal Farm Credit Banks Funding Corporation. U.S. Treasury securities are backed by the full faith and credit of and/or guaranteed by the U.S. government, and it is expected that the securities will not be settled at prices less than the amortized cost bases of the securities. Securities issued by U.S. government agencies or U.S. government-sponsored enterprises carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk-free,” and have a long history of zero credit loss. As such, the Company did not record an allowance for credit losses for these securities as of September 30, 2021. The amortized cost and estimated fair value of debt securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities are shown separately since they are not due at a single maturity date. September 30, 2021 (In thousands) Amortized Cost Fair Value Available-for-sale debt securities: Due in one year or less $ 57,011 $ 57,604 Due after one year through five years 463,136 465,980 Due after five years through ten years 487,701 481,464 Due after ten years 56,770 56,555 Total 1,064,618 1,061,603 Mortgage-backed securities 1,007,880 1,005,324 Total available-for-sale debt securities $ 2,072,498 $ 2,066,927 December 31, 2020 (In thousands) Amortized Cost Fair Value Available-for-sale debt securities: Due in one year or less $ 54,484 $ 55,008 Due after one year through five years 379,044 388,132 Due after five years through ten years 228,572 229,107 Due after ten years 66,694 67,358 Total 728,794 739,605 Mortgage-backed securities 871,100 887,588 Total available-for-sale debt securities $ 1,599,894 $ 1,627,193 September 30, 2021 (In thousands) Amortized Cost Fair Value Held-to-maturity debt securities: Due after five years through ten years $ 269,268 $ 268,283 Total held-to-maturity debt securities $ 269,268 $ 268,283 There were no held-to-maturity debt securities at December 31, 2020. The Company also holds non-marketable Federal Home Loan Bank New York (“FHLBNY”) stock, non-marketable Federal Home Loan Bank Pittsburgh (“FHLBPITT”) stock and non-marketable Atlantic Community Bankers Bank ("ACBB") stock, all of which are required to be held for regulatory purposes and for borrowing availability. The required investment in FHLB stock is tied to the Company’s borrowing levels with the FHLB. Holdings of FHLBNY stock, FHLBPITT stock, and ACBB stock totaled $9.3 million, $1.0 million and $95,000, respectively, at September 30, 2021. These securities are carried at par, which is also cost. The FHLBNY and FHLBPITT continue to pay dividends and repurchase stock. Quarterly, we evaluate our investment in the FHLB for impairment. We evaluate recent and long-term operating performance, liquidity, funding and capital positions, stock repurchase history, dividend history and impact of legislative and regulatory changes. Based on our most recent evaluation, as of September 30, 2021, we determined that no impairment write-downs were required. |
Loans and Leases
Loans and Leases | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loans and Leases | Loans and Leases Loans and leases at September 30, 2021 and December 31, 2020 were as follows: (In thousands) 9/30/2021 12/31/2020 Commercial and industrial Agriculture $ 78,335 $ 94,489 Commercial and industrial other 727,944 792,987 PPP loans* 141,930 291,252 Subtotal commercial and industrial 948,209 1,178,728 Commercial real estate Construction 170,646 163,016 Agriculture 192,183 201,866 Commercial real estate other 2,253,190 2,204,310 Subtotal commercial real estate 2,616,019 2,569,192 Residential real estate Home equity 185,625 200,827 Mortgages 1,270,005 1,235,160 Subtotal residential real estate 1,455,630 1,435,987 Consumer and other Indirect 5,595 8,401 Consumer and other 66,694 61,399 Subtotal consumer and other 72,289 69,800 Leases 14,337 14,203 Total loans and leases 5,106,484 5,267,910 Less: unearned income and deferred costs and fees (9,706) (7,583) Total loans and leases, net of unearned income and deferred costs and fees $ 5,096,778 $ 5,260,327 *SBA Paycheck Protection Program ("PPP") The Company has adopted comprehensive lending policies, underwriting standards and loan review procedures. Management reviews these policies and procedures on a regular basis. The Company discussed its lending policies and underwriting guidelines for its various lending portfolios in Note 3 – “Loans and Leases” in the Notes to Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. There have been no significant changes in these policies and guidelines since the date of that report. As such, these policies are reflective of new originations as well as those balances held at December 31, 2020. The Company’s Board of Directors approves the lending policies at least annually. The Company recognizes that exceptions to policy guidelines may occasionally occur and has established procedures for approving exceptions to these policy guidelines. Management has also implemented reporting systems to monitor loan origination, loan quality, concentrations of credit, loan delinquencies and nonperforming loans and potential problem loans. Loans are considered past due if the required principal and interest payments have not been received as of the date such payments are due. Generally loans are placed on nonaccrual status if principal or interest payments become 90 days or more past due and/or management deems the collectability of the principal and/or interest to be in question as well as when required by regulatory agencies. When interest accrual is discontinued, all unpaid accrued interest is reversed. Payments received on loans on nonaccrual are generally applied to reduce the principal balance of the loan. Loans are generally returned to accrual status when all the principal and interest amounts due are brought current, the borrower has established a payment history, and future payments are reasonably assured. When management determines that the collection of principal in full is not probable, management will charge-off a partial amount or full amount of the loan balance. Management considers specific facts and circumstances relative to each individual credit in making such a determination. For residential and consumer loans, management uses specific regulatory guidance and thresholds for determining charge-offs. The below table is an age analysis of past due loans, segregated by class of loans, as of September 30, 2021 and December 31, 2020. September 30, 2021 (In thousands) 30-59 Days 60-89 Days 90 Days or More Total Past Due Current Loans Total Loans Loans and Leases Commercial and industrial Agriculture $ 29 $ 0 $ 0 $ 29 $ 78,306 $ 78,335 Commercial and industrial other 459 4 424 887 727,057 727,944 PPP loans 0 0 0 0 141,930 141,930 Subtotal commercial and industrial 488 4 424 916 947,293 948,209 Commercial real estate Construction 0 0 0 0 170,646 170,646 Agriculture 58 0 0 58 192,125 192,183 Commercial real estate other 0 0 21,651 21,651 2,231,539 2,253,190 Subtotal commercial real estate 58 0 21,651 21,709 2,594,310 2,616,019 Residential real estate Home equity 159 0 1,039 1,198 184,427 185,625 Mortgages 93 365 5,325 5,783 1,264,222 1,270,005 Subtotal residential real estate 252 365 6,364 6,981 1,448,649 1,455,630 Consumer and other Indirect 91 77 155 323 5,272 5,595 Consumer and other 82 19 110 211 66,483 66,694 Subtotal consumer and other 173 96 265 534 71,755 72,289 Leases 0 0 0 0 14,337 14,337 Total loans and leases 971 465 28,704 30,140 5,076,344 5,106,484 Less: unearned income and deferred costs and fees 0 0 0 0 (9,706) (9,706) Total loans and leases, net of unearned income and deferred costs and fees $ 971 $ 465 $ 28,704 $ 30,140 $ 5,066,638 $ 5,096,778 December 31, 2020 (In thousands) 30-59 Days 60-89 Days 90 Days or More Total Past Due Current Loans Total Loans Loans and Leases Commercial and industrial Agriculture $ 0 $ 18 $ 0 $ 18 $ 94,471 $ 94,489 Commercial and industrial other 44 7 1,516 1,567 791,420 792,987 PPP loans 0 0 0 0 291,252 291,252 Subtotal commercial and industrial 44 25 1,516 1,585 1,177,143 1,178,728 Commercial real estate Construction 0 0 0 0 163,016 163,016 Agriculture 263 0 0 263 201,603 201,866 Commercial real estate other 0 0 7,125 7,125 2,197,185 2,204,310 Subtotal commercial real estate 263 0 7,125 7,388 2,561,804 2,569,192 Residential real estate Home equity 713 224 1,126 2,063 198,764 200,827 Mortgages 521 879 4,210 5,610 1,229,550 1,235,160 Subtotal residential real estate 1,234 1,103 5,336 7,673 1,428,314 1,435,987 Consumer and other Indirect 175 35 91 301 8,100 8,401 Consumer and other 115 18 232 365 61,034 61,399 Subtotal consumer and other 290 53 323 666 69,134 69,800 Leases 0 0 0 0 14,203 14,203 Total loans and leases 1,831 1,181 14,300 17,312 5,250,598 5,267,910 Less: unearned income and deferred costs and fees 0 0 0 0 (7,583) (7,583) Total loans and leases, net of unearned income and deferred costs and fees $ 1,831 $ 1,181 $ 14,300 $ 17,312 $ 5,243,015 $ 5,260,327 The following table presents the amortized cost basis of loans on nonaccrual status and the amortized cost basis of loans on nonaccrual status for which there was no related allowance for credit losses as of September 30, 2021 and December 31, 2020. September 30, 2021 (In thousands) Nonaccrual Loans and Leases with no Allowance for Credit Losses Nonaccrual Loans and Leases Loans and Leases Past Due Over 89 Days and Accruing Loans and Leases Commercial and industrial Commercial and industrial other $ 480 $ 543 $ 0 Subtotal commercial and industrial 480 543 0 Commercial real estate Construction 675 675 0 Agriculture 377 487 0 Commercial real estate other 24,518 33,860 7,463 Subtotal commercial real estate 25,570 35,022 7,463 Residential real estate Home equity 188 2,427 0 Mortgages 705 9,538 0 Subtotal residential real estate 893 11,965 0 Consumer and other Indirect 2 265 0 Consumer and other 0 146 0 Subtotal consumer and other 2 411 0 Leases 0 0 0 Total loans and leases $ 26,945 $ 47,941 $ 7,463 December 31, 2020 (In thousands) Nonaccrual Loans and Leases with no Allowance for Credit Losses Nonaccrual Loans and Leases Loans and Leases Past Due Over 89 Days and Accruing Loans and Leases Commercial and industrial Commercial and industrial other $ 803 $ 1,775 $ 0 Subtotal commercial and industrial 803 1,775 0 Commercial real estate Agriculture 0 118 0 Commercial real estate other 23,080 23,509 0 Subtotal commercial real estate 23,080 23,627 0 Residential real estate Home equity 767 2,965 0 Mortgages 1,365 10,180 0 Subtotal residential real estate 2,132 13,145 0 Consumer and other Indirect 3 169 0 Consumer and other 0 260 0 Subtotal consumer and other 3 429 0 Leases 0 0 0 Total loans and leases $ 26,018 $ 38,976 $ 0 |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Allowance for Credit Losses | Allowance for Credit Losses Management reviews the appropriateness of the allowance for credit losses (“allowance” or "ACL") on a regular basis. Management considers the accounting policy relating to the allowance to be a critical accounting policy, given the inherent uncertainty in evaluating the levels of the allowance required to cover credit losses in the portfolio and the material effect that assumptions could have on the Company’s results of operations. The Company has developed a methodology to measure the amount of estimated credit loss exposure inherent in the loan portfolio to assure that an appropriate allowance is maintained. The Company’s methodology is based upon guidance provided in SEC Staff Accounting Bulletin No. 119, Measurement of Credit Losses on Financial Instruments ("CECL"), and Financial Instruments - Credit Losses and ASC Topic 326, Financial Instruments - Credit Losses (ASU 2016-3) . The Company uses a discounted cash flow ("DCF") method to estimate expected credit losses for all loan segments excluding the leasing segment. For each of these loan segments, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speed, curtailments, recovery lag probability of default, and loss given default. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on internal historical data. The Company uses regression analysis of historical internal and peer data to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the loss drivers. For all loans utilizing the DCF method, management utilizes forecasts of national unemployment and a one year percentage change in national gross domestic product as loss drivers in the model. For all DCF models, management has determined that four quarters represents a reasonable and supportable forecast period and reverts back to a historical loss rate over eight quarters on a straight-line basis. Management leverages economic projections from a reputable and independent third party to inform its loss driver forecasts over the four-quarter forecast period. Other internal and external indicators of economic forecasts are also considered by management when developing the forecast metrics. The combination of adjustments for credit expectations and timing expectations produces an expected cash flow stream at the instrument level. Instrument effective yield is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows are then discounted at that effective yield to produce a net present value of expected cash flows ("NPV"). An ACL is established for the difference between the NPV and amortized cost basis. Since the methodology is based upon historical experience and trends, current conditions, and reasonable and supportable forecasts, as well as management’s judgment, factors may arise that result in different estimates. While management’s evaluation of the allowance as of September 30, 2021, considers the allowance to be appropriate, under certain conditions or assumptions, the Company would need to increase or decrease the allowance. In addition, various federal and State regulatory agencies, as part of their examination process, review the Company's allowance and may require the Company to recognize additions to the allowance based on their judgements and information available to them at the time of their examinations. Loan Commitments and Allowance for Credit Losses on Off-Balance Sheet Credit Exposures Financial instruments include off-balance sheet credit instruments, such as commitments to make loans, and commercial letters of credit. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for off-balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded. The Company records an allowance for credit losses on off-balance sheet credit exposures, unless the commitments to extend credit are unconditionally cancellable, through a charge to credit loss expense for off-balance sheet credit exposures included in provision expense in the Company's consolidated statements of income. The following table details activity in the allowance for credit losses on loans for the three and nine months ended September 30, 2021 and 2020. The Company adopted ASU 2016-13 on January 1, 2020 using the modified retrospective approach. The transition adjustment included a decrease in the allowance of $2.5 million. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Three Months Ended September 30, 2021 (In thousands) Commercial Commercial Residential Consumer Finance Total Allowance for credit losses: Beginning balance $ 7,113 $ 29,201 $ 9,534 $ 1,590 $ 67 $ 47,505 Charge-offs (157) 0 0 (53) 0 (210) Recoveries 16 2 65 58 0 141 (Credit) provision for credit loss expense (774) (119) (184) (99) (1) (1,177) Ending Balance $ 6,198 $ 29,084 $ 9,415 $ 1,496 $ 66 $ 46,259 Three Months Ended September 30, 2020 (In thousands) Commercial Commercial Residential Consumer Finance Total Allowance for credit losses: Beginning balance $ 11,113 $ 24,286 $ 15,012 $ 1,596 $ 75 $ 52,082 Charge-offs 0 0 (30) (145) 0 (175) Recoveries 89 9 16 73 0 187 (Credit) provision for credit loss expense (3,918) 4,264 (65) (75) (7) 199 Ending Balance $ 7,284 $ 28,559 $ 14,933 $ 1,449 $ 68 $ 52,293 Nine Months Ended September 30, 2021 (In thousands) Commercial Commercial Residential Consumer Finance Total Allowance for credit losses: Beginning balances $ 9,239 $ 30,546 $ 10,257 $ 1,562 $ 65 $ 51,669 Charge-offs (274) 0 (51) (218) 0 (543) Recoveries 116 1,040 229 153 0 1,538 (Credit) provision for credit loss expense (2,883) (2,502) (1,020) (1) 1 (6,405) Ending Balance $ 6,198 $ 29,084 $ 9,415 $ 1,496 $ 66 $ 46,259 Nine Months Ended September 30, 2020 (In thousands) Commercial Commercial Residential Consumer Finance Total Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 10,541 $ 21,608 $ 6,381 $ 1,362 $ 0 $ 39,892 Impact of adopting ASC 326 (2,008) (5,917) 4,459 850 82 (2,534) Charge-offs (1) (1,305) (33) (409) 0 (1,748) Recoveries 125 40 178 195 0 538 (Credit) provision for credit loss expense (1,373) 14,133 3,948 (549) (14) 16,145 Ending Balance $ 7,284 $ 28,559 $ 14,933 $ 1,449 $ 68 $ 52,293 At September 30, 2021 and December 31, 2020, the balance of the allowance for credit losses for off-balance sheet exposures was $2.2 million and $1.9 million, respectively. The Company recorded a provision credit of $55,000 and a provision expense of $272,000 related to off-balance sheet credit exposures for the third quarter of 2021 and for the nine months ended September 30, 2021, respectively, compared to a provision credit of $417,000 and provision expense of $1.3 million, respectively, for the same periods in 2020. The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related allowance for credit losses allocated to these loans: (In thousands) Real Estate Business Assets Other Total ACL Allocation September 30, 2021 Commercial and Industrial $ 107 $ 461 $ 328 $ 896 $ 29 Commercial Real Estate 36,494 0 2 36,496 3,180 Total $ 36,601 $ 461 $ 330 $ 37,392 $ 3,209 (In thousands) Real Estate Business Assets Other Total ACL Allocation December 31, 2020 Commercial and Industrial $ 103 $ 582 $ 110 $ 795 $ 122 Commercial Real Estate 24,277 1,418 0 25,695 186 Total $ 24,380 $ 2,000 $ 110 $ 26,490 $ 308 Loans are considered modified in a troubled debt restructuring ("TDR") when, due to a borrower’s financial difficulties, the Company makes concessions to the borrower that it would not otherwise consider. These modifications may include, among others, an extension for the term of the loan, and granting a period when interest-only payments can be made with the principal payments made over the remaining term of the loan or at maturity. The following tables present information on loans modified in a TDR during the three and nine months ended September 30, 2021 and 2020. Post-modification amounts are presented as of September 30, 2021 and September 30, 2020. September 30, 2021 Three Months Ended Defaulted TDRs 2 (In thousands) Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Loans Post-Modification Outstanding Recorded Investment Residential real estate Home equity 1 1 $ 112 $ 112 1 $ 201 Total 1 $ 112 $ 112 1 $ 201 1 Represents the following concessions: extension of term and reduction of rate. 2 TDRs that defaulted during the three months ended September 30, 2021 that were restructured in the prior twelve months. September 30, 2020 Three Months Ended Defaulted TDRs 2 (In thousands) Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Loans Post-Modification Outstanding Recorded Investment Commercial & industrial Commercial real estate other 1 1 $ 196 $ 196 0 $ 0 Consumer and other Consumer and other 1 1 4 4 0 0 Total 2 $ 200 $ 200 0 $ 0 1 Represents the following concessions: extension of term and reduction of rate. 2 TDRs that defaulted during the three months ended September 30, 2020 that were restructured in the prior twelve months. September 30, 2021 Nine Months Ended Defaulted TDRs 2 (In thousands) Number of Pre- Post-Modification Outstanding Recorded Investment Number of Post- Residential real estate Home equity 1 1 $ 112 $ 112 1 $ 201 Total 1 $ 112 $ 112 1 $ 201 1 Represents the following concessions: extension of term and reduction of rate. 2 TDRs that defaulted during the nine months ended September 30, 2021 that were restructured in the prior twelve months. Nine Months Ended September 30, 2020 Defaulted TDRs 2 (In thousands) Number of Pre- Post-Modification Outstanding Recorded Investment Number of Post- Commercial real estate Commercial real estate other 1 1 $ 196 $ 196 1 $ 37 Residential real estate Home equity 1 2 121 121 0 87 Consumer and other Consumer and other 1 1 4 4 0 0 Total 4 $ 321 $ 321 2 $ 124 1 Represents the following concessions: extension of term and reduction of rate. 2 TDRs that defaulted during the nine months ended September 30, 2020 that were restructured in the prior twelve months. The following table presents credit quality indicators by total loans on an amortized cost basis by origination year as of September 30, 2021 and December 31, 2020. September 30, 2021 (In thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Loans Commercial & Industrial - Other: Pass $ 99,129 $ 62,023 $ 57,126 $ 46,264 $ 43,901 $ 264,656 $ 138,153 $ 9,713 $ 720,965 Special Mention 164 815 532 141 310 523 705 0 3,190 Substandard 0 383 298 731 231 680 1,466 0 3,789 Total Commercial & Industrial - Other $ 99,293 $ 63,221 $ 57,956 $ 47,136 $ 44,442 $ 265,859 $ 140,324 $ 9,713 $ 727,944 Commercial and Industrial - PPP: Pass $ 139,564 $ 2,366 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 141,930 Special Mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Total Commercial and Industrial - PPP $ 139,564 $ 2,366 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 141,930 Commercial and Industrial - Agriculture: Pass $ 4,615 $ 7,736 $ 6,035 $ 9,497 $ 6,239 $ 3,590 $ 35,276 $ 566 $ 73,554 Special Mention 0 0 0 24 0 0 225 0 249 Substandard 0 89 17 0 106 2,328 1,992 0 4,532 Total Commercial and Industrial - Agriculture $ 4,615 $ 7,825 $ 6,052 $ 9,521 $ 6,345 $ 5,918 $ 37,493 $ 566 $ 78,335 Commercial Real Estate Pass $ 229,984 $ 269,752 $ 255,296 $ 205,093 $ 226,830 $ 824,671 $ 56,018 $ 33,366 $ 2,101,010 Special Mention 0 1,774 11,982 3,151 2,190 74,499 360 0 93,956 Substandard 0 0 5,012 18,472 8,516 26,051 173 0 58,224 Total Commercial Real Estate $ 229,984 $ 271,526 $ 272,290 $ 226,716 $ 237,536 $ 925,221 $ 56,551 $ 33,366 $ 2,253,190 Commercial Real Estate - Agriculture: Pass $ 13,096 $ 22,063 $ 30,564 $ 42,335 $ 23,616 $ 53,458 $ 2,252 $ 2,553 $ 189,937 Special Mention 0 483 0 0 0 381 49 0 913 Substandard 0 0 0 40 0 1,293 0 0 1,333 Total Commercial Real Estate - Agriculture $ 13,096 $ 22,546 $ 30,564 $ 42,375 $ 23,616 $ 55,132 $ 2,301 $ 2,553 $ 192,183 Commercial Real Estate - Construction Pass $ 10,828 $ 11,619 $ 17,533 $ 7,591 $ 1,343 $ 7,391 $ 105,778 $ 7,148 $ 169,231 Special Mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 648 767 0 1,415 Total Commercial Real Estate - Construction $ 10,828 $ 11,619 $ 17,533 $ 7,591 $ 1,343 $ 8,039 $ 106,545 $ 7,148 $ 170,646 December 31, 2020 (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Loans Commercial & Industrial - Other: Internal risk grade: Pass $ 91,597 $ 72,639 $ 56,191 $ 60,714 $ 33,402 $ 301,027 $ 149,969 $ 16,301 $ 781,840 Special Mention 1,064 367 344 912 2,045 228 1,331 0 6,291 Substandard 412 305 933 485 292 783 1,646 0 4,856 Total Commercial & Industrial - Other $ 93,073 $ 73,311 $ 57,468 $ 62,111 $ 35,739 $ 302,038 $ 152,946 $ 16,301 $ 792,987 Commercial and Industrial - Agriculture: Pass $ 11,536 $ 8,005 $ 11,162 $ 6,531 $ 3,539 $ 2,599 $ 41,936 $ 1,340 $ 86,648 Special Mention 0 0 28 729 0 0 2,080 0 2,837 Substandard 99 83 0 202 0 2,308 2,312 0 5,004 Total Commercial and Industrial - Agriculture $ 11,635 $ 8,088 $ 11,190 $ 7,462 $ 3,539 $ 4,907 $ 46,328 $ 1,340 $ 94,489 Commercial and Industrial - PPP: Pass $ 291,252 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 291,252 Special Mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Total Commercial and Industrial - PPP $ 291,252 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 291,252 Commercial Real Estate Pass $ 278,747 $ 246,331 $ 232,651 $ 237,487 $ 290,106 $ 664,027 $ 33,117 $ 64,903 $ 2,047,369 Special Mention 35 13,016 5,612 4,654 34,310 46,074 203 0 103,904 Substandard 0 4,933 18,395 6,172 5,625 17,610 302 0 53,037 Total Commercial Real Estate $ 278,782 $ 264,280 $ 256,658 $ 248,313 $ 330,041 $ 727,711 $ 33,622 $ 64,903 $ 2,204,310 Commercial Real Estate - Agriculture: Pass $ 22,440 $ 35,081 $ 44,519 $ 22,356 $ 17,081 $ 44,559 $ 919 $ 5,602 $ 192,557 Special Mention 1,960 0 575 1,366 1,053 6 49 0 5,009 Substandard 0 0 0 1,777 713 1,527 283 0 4,300 Total Commercial Real Estate - Agriculture $ 24,400 $ 35,081 $ 45,094 $ 25,499 $ 18,847 $ 46,092 $ 1,251 $ 5,602 $ 201,866 Commercial Real Estate - Construction Pass $ 14,465 $ 20,705 $ 7,999 $ 2,478 $ 1,879 $ 6,682 $ 85,513 $ 21,051 $ 160,772 Special Mention 0 0 0 0 0 467 1,453 0 1,920 Substandard 0 0 0 0 0 324 0 0 324 Total Commercial Real Estate - Construction $ 14,465 $ 20,705 $ 7,999 $ 2,478 $ 1,879 $ 7,473 $ 86,966 $ 21,051 $ 163,016 The following table presents credit quality indicators by total loans on an amortized cost basis by origination year as of September 30, 2021 and December 31, 2020, continued. September 30, 2021 (In thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Loans Residential - Home Equity Performing $ 1,395 $ 1,246 $ 3,157 $ 1,719 $ 1,728 $ 3,446 $ 165,588 $ 4,919 $ 183,198 Nonperforming 0 0 16 0 0 596 1,815 0 2,427 Total Residential - Home Equity $ 1,395 $ 1,246 $ 3,173 $ 1,719 $ 1,728 $ 4,042 $ 167,403 $ 4,919 $ 185,625 Residential - Mortgages Performing $ 233,145 $ 289,745 $ 168,894 $ 104,697 $ 132,204 $ 317,803 $ 13,062 $ 917 $ 1,260,467 Nonperforming 0 0 242 568 696 8,006 26 0 9,538 Total Residential - Mortgages $ 233,145 $ 289,745 $ 169,136 $ 105,265 $ 132,900 $ 325,809 $ 13,088 $ 917 $ 1,270,005 Consumer - Direct Performing $ 17,310 $ 11,569 $ 10,163 $ 5,962 $ 5,180 $ 11,265 $ 5,099 $ 0 $ 66,548 Nonperforming 0 5 64 63 11 0 3 $ 0 146 Total Consumer - Direct $ 17,310 $ 11,574 $ 10,227 $ 6,025 $ 5,191 $ 11,265 $ 5,102 $ 0 $ 66,694 Consumer - Indirect Performing $ 1,484 $ 965 $ 308 $ 1,987 $ 484 $ 102 $ 0 $ 0 $ 5,330 Nonperforming 0 0 137 98 2 28 0 0 265 Total Consumer Indirect $ 1,484 $ 965 $ 445 $ 2,085 $ 486 $ 130 $ 0 $ 0 $ 5,595 December 31, 2020 (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Loans Residential - Home Equity Performing $ 1,440 $ 2,764 $ 1,052 $ 2,120 $ 722 $ 1,106 $ 188,614 $ 44 $ 197,862 Nonperforming 0 18 0 0 194 506 2,247 0 2,965 Total Residential - Home Equity $ 1,440 $ 2,782 $ 1,052 $ 2,120 $ 916 $ 1,612 $ 190,861 $ 44 $ 200,827 Residential - Mortgages Performing $ 305,476 $ 193,543 $ 123,205 $ 155,699 $ 178,149 $ 255,556 $ 11,735 $ 1,617 $ 1,224,980 Nonperforming 0 258 455 706 1,404 7,305 52 0 10,180 Total Residential - Mortgages $ 305,476 $ 193,801 $ 123,660 $ 156,405 $ 179,553 $ 262,861 $ 11,787 $ 1,617 $ 1,235,160 Consumer - Direct Performing $ 14,840 $ 11,127 $ 8,011 $ 6,632 $ 2,854 $ 10,840 $ 6,835 $ 0 $ 61,139 Nonperforming 5 74 167 12 0 2 0 0 260 Total Consumer - Direct $ 14,845 $ 11,201 $ 8,178 $ 6,644 $ 2,854 $ 10,842 $ 6,835 $ 0 $ 61,399 Consumer - Indirect Performing $ 1,424 $ 1,878 $ 3,327 $ 1,128 $ 382 $ 93 $ 0 $ 0 $ 8,232 Nonperforming 0 67 44 7 36 15 0 0 169 Total Consumer Indirect $ 1,424 $ 1,945 $ 3,371 $ 1,135 $ 418 $ 108 $ 0 $ 0 $ 8,401 |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Earnings per share in the table below, for the three and nine month periods ended September 30, 2021 and 2020 are calculated under the two-class method as required by ASC Topic 260, Earnings Per Share. ASC 260 provides that unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. The Company has issued restricted stock awards that contain such rights and are therefore considered participating securities. Basic earnings per common share are calculated by dividing net income allocable to common stock by the weighted average number of common shares, excluding participating securities, during the period. Diluted earnings per common share include the dilutive effect of participating securities. Three Months Ended (In thousands, except share and per share data) 9/30/2021 9/30/2020 Basic Net income available to common shareholders $ 21,342 $ 24,230 Less: income attributable to unvested stock-based compensation awards (154) (278) Net earnings allocated to common shareholders 21,188 23,952 Weighted average shares outstanding, including unvested stock-based compensation awards 14,724,141 14,920,924 Less: average unvested stock-based compensation awards (229,608) (223,392) Weighted average shares outstanding - Basic 14,494,533 14,697,532 Diluted Net earnings allocated to common shareholders 21,188 23,952 Weighted average shares outstanding - Basic 14,494,533 14,697,532 Plus: incremental shares from assumed conversion of stock-based compensation awards 73,801 30,209 Weighted average shares outstanding - Diluted 14,568,334 14,727,741 Basic EPS $ 1.46 $ 1.63 Diluted EPS $ 1.45 $ 1.63 Stock-based compensation awards representing 2,032 and 10,449 of common shares during the three months ended September 30, 2021 and 2020, respectively, were not included in the computations of diluted earnings per common share because the effect on those periods would have been anti-dilutive. Nine Months Ended (In thousands, except share and per share data) 9/30/2021 9/30/2020 Basic Net income available to common shareholders $ 69,799 $ 53,610 Less: income attributable to unvested stock-based compensation awards (504) (628) Net earnings allocated to common shareholders 69,295 52,982 Weighted average shares outstanding, including unvested stock-based compensation awards 14,840,420 14,929,628 Less: unvested stock-based compensation awards (232,538) (230,181) Weighted average shares outstanding - Basic 14,607,882 14,699,447 Diluted Net earnings allocated to common shareholders 69,295 52,982 Weighted average shares outstanding - Basic 14,607,882 14,699,447 Plus: incremental shares from assumed conversion of stock-based compensation awards 79,303 39,474 Weighted average shares outstanding - Diluted 14,687,185 14,738,921 Basic EPS $ 4.74 $ 3.60 Diluted EPS $ 4.72 $ 3.59 Stock-based compensation awards representing approximately 6,113 and 10,090 of common shares during the nine months ended September 30, 2021 and 2020, respectively were not included in the computations of diluted earnings per common share because the effect on those periods would have been anti-dilutive. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2021 | |
Stockholders' Equity Note [Abstract] | |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) The following tables present reclassifications out of accumulated other comprehensive income (loss) for the three and nine month periods ended September 30, 2021 and 2020. Three Months Ended September 30, 2021 (In thousands) Before-Tax Tax (Expense) Net of Tax Available-for-sale debt securities: Change in net unrealized gain/loss during the period $ (10,400) $ 2,548 $ (7,852) Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income 54 (13) 41 Net unrealized gains/losses (10,346) 2,535 (7,811) Employee benefit plans: Amortization of net retirement plan actuarial gain 738 (181) 557 Amortization of net retirement plan prior service cost 56 (14) 42 Employee benefit plans 794 (195) 599 Other comprehensive loss $ (9,552) $ 2,340 $ (7,212) Three Months Ended September 30, 2020 (In thousands) Before-Tax Tax (Expense) Net of Tax Available-for-sale debt securities: Change in net unrealized gain/loss during the period $ (4,374) $ 1,071 $ (3,303) Reclassification adjustment for net realized gain on sale of available-for-sale debt securities included in net income 0 0 0 Net unrealized gains/losses (4,374) 1,071 (3,303) Employee benefit plans: Amortization of net retirement plan actuarial gain 593 (146) 447 Amortization of net retirement plan prior service cost 53 (13) 40 Employee benefit plans 646 (159) 487 Other comprehensive loss $ (3,728) $ 912 $ (2,816) Nine Months Ended September 30, 2021 (In thousands) Before-Tax Tax (Expense) Net of Tax Available-for-sale debt securities: Change in net unrealized gain/loss during the period $ (32,595) $ 7,986 $ (24,609) Reclassification adjustment for net realized gain on sale of available-for-sale debt securities included in net income (275) 67 (208) Net unrealized gains/losses (32,870) 8,053 (24,817) Employee benefit plans: Amortization of net retirement plan actuarial loss 2,213 (542) 1,671 Amortization of net retirement plan prior service cost 167 (41) 126 Employee benefit plans 2,380 (583) 1,797 Other comprehensive loss $ (30,490) $ 7,470 $ (23,020) Nine Months Ended September 30, 2020 (In thousands) Before-Tax Tax (Expense) Net of Tax Available-for-sale debt securities: Change in net unrealized gain/loss during the period $ 24,592 $ (6,029) $ 18,563 Reclassification adjustment for net realized gain on sale of available-for-sale debt securities included in net income (429) 105 (324) Net unrealized gains/losses 24,163 (5,924) 18,239 Employee benefit plans: Amortization of net retirement plan actuarial loss 1,775 (435) 1,340 Amortization of net retirement plan prior service cost 160 (39) 121 Employee benefit plans 1,935 (474) 1,461 Other comprehensive income $ 26,098 $ (6,398) $ 19,700 The following table presents the activity in our accumulated other comprehensive income (loss) for the periods indicated: (In thousands) Available-for- Employee Accumulated Balance at June 30, 2021 $ 3,603 $ (51,485) $ (47,882) Other comprehensive (loss) income before reclassifications (7,852) 0 (7,852) Amounts reclassified from accumulated other comprehensive (loss) income 41 599 640 Net current-period other comprehensive (loss) income (7,811) 599 (7,212) Balance at September 30, 2021 $ (4,208) $ (50,886) $ (55,094) Balance at January 1, 2021 $ 20,609 $ (52,683) $ (32,074) Other comprehensive (loss) income before reclassifications (24,609) 0 (24,609) Amounts reclassified from accumulated other comprehensive (loss) income (208) 1,797 1,589 Net current-period other comprehensive (loss) income (24,817) 1,797 (23,020) Balance at September 30, 2021 $ (4,208) $ (50,886) $ (55,094) (In thousands) Available-for- Employee Accumulated Balance at July 1, 2020 $ 25,581 $ (46,629) $ (21,048) Other comprehensive income (loss) before reclassifications (3,303) 0 (3,303) Amounts reclassified from accumulated other comprehensive (loss) income 0 487 487 Net current-period other comprehensive (loss) income (3,303) 487 (2,816) Balance at September 30, 2020 $ 22,278 $ (46,142) $ (23,864) Balance at January 1, 2020 $ 4,039 $ (47,603) $ (43,564) Other comprehensive income (loss) before reclassifications 18,563 0 18,563 Amounts reclassified from accumulated other comprehensive (loss) income (324) 1,461 1,137 Net current-period other comprehensive income 18,239 1,461 19,700 Balance at September 30, 2020 $ 22,278 $ (46,142) $ (23,864) The following tables present the amounts reclassified out of each component of accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, 2021 Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) Amount 1 Affected Line Item in the Available-for-sale debt securities: Unrealized gains and losses on available-for-sale debt securities $ (54) Net (loss) gain on securities transactions 13 Tax expense (41) Net of tax Employee benefit plans: Amortization of the following 2 Net retirement plan actuarial loss (738) Other operating expense Net retirement plan prior service cost (56) Other operating expense (794) Total before tax 195 Tax benefit $ (599) Net of tax Three Months Ended September 30, 2020 Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) Amount 1 Affected Line Item in the Available-for-sale debt securities: Unrealized gains and losses on available-for-sale debt securities $ 0 Net (loss) gain on securities transactions 0 Tax expense 0 Net of tax Employee benefit plans: Amortization of the following 2 Net retirement plan actuarial loss (593) Other operating expense Net retirement plan prior service cost (53) Other operating expense (646) Total before tax 159 Tax benefit $ (487) Net of tax Nine Months Ended September 30, 2021 Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) Amount 1 Affected Line Item in the Available-for-sale debt securities: Unrealized gains and losses on available-for-sale debt securities $ 275 Net (loss) gain on securities transactions (67) Tax expense 208 Net of tax Employee benefit plans: Amortization of the following 2 Net retirement plan actuarial loss (2,213) Other operating expense Net retirement plan prior service cost (167) Other operating expense (2,380) Total before tax 583 Tax benefit $ (1,797) Net of tax Nine Months Ended September 30, 2020 Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) Amount 1 Affected Line Item in the Available-for-sale debt securities: Unrealized gains and losses on available-for-sale debt securities $ 429 Net (loss) gain on securities transactions (105) Tax expense 324 Net of tax Employee benefit plans: Amortization of the following 2 Net retirement plan actuarial loss (1,775) Other operating expense Net retirement plan prior service cost (160) Other operating expense (1,935) Total before tax 474 Tax benefit $ (1,461) Net of tax 1 Amounts in parentheses indicated debits in income statement. 2 The accumulated other comprehensive (loss) income components are included in the computation of net periodic benefit cost (See Note 8 - “Employee Benefit Plan”). |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2021 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | Employee Benefit Plans The following tables set forth the amount of the net periodic benefit cost recognized by the Company for the Company’s pension plan, post-retirement plan (Life and Health), and supplemental employee retirement plans (“SERP”) including the following components: service cost, interest cost, expected return on plan assets for the period, amortization of the unrecognized transitional obligation or transition asset, and the amounts of recognized gains and losses, prior service cost recognized, and gain or loss recognized due to settlement or curtailment. Components of Net Periodic Benefit Cost Pension Benefits Life and Health SERP Benefits (In thousands) 9/30/2021 9/30/2020 9/30/2021 9/30/2020 9/30/2021 9/30/2020 Service cost $ 0 $ 0 $ 47 $ 43 $ 58 $ 54 Interest cost 407 593 45 61 173 228 Expected return on plan assets (1,413) (1,354) 0 0 0 0 Amortization of net retirement plan actuarial loss 390 353 78 39 270 200 Amortization of net retirement plan prior service (credit) cost 0 (2) (15) (15) 71 71 Net periodic benefit (income) cost $ (616) $ (410) $ 155 $ 128 $ 572 $ 553 Pension Benefits Life and Health SERP Benefits (In thousands) 9/30/2021 9/30/2020 9/30/2021 9/30/2020 9/30/2021 9/30/2020 Service cost $ 0 $ 0 $ 140 $ 129 $ 173 $ 161 Interest cost 1,221 1,778 135 183 519 685 Expected return on plan assets (4,239) (4,062) 0 0 0 0 Amortization of net retirement plan actuarial loss 1,170 1,058 234 116 810 600 Amortization of net retirement plan prior service cost (credit) 0 (7) (45) (45) 212 214 Net periodic benefit (income) cost $ (1,848) $ (1,233) $ 464 $ 383 $ 1,714 $ 1,660 The service component of net periodic benefit cost for the Company's benefit plans is recorded as a part of salaries and wages in the consolidated statements of income. All other components are recorded as part of other operating expenses in the consolidated statements of income. The Company realized approximately $1.8 million and $1.5 million, net of tax, as amortization of amounts previously recognized in accumulated other comprehensive (loss) income, for the nine months ended September 30, 2021 and 2020, respectively. |
Other Income and Operating Expe
Other Income and Operating Expense | 9 Months Ended |
Sep. 30, 2021 | |
Other Income and Expenses [Abstract] | |
Other Income and Operating Expense | Other Income and Operating Expense Other income and operating expense totals are presented in the table below. Components of these totals exceeding 1% of the aggregate of total noninterest income and total noninterest expenses for any of the periods presented below are stated separately. Three Months Ended Nine Months Ended (In thousands) 9/30/2021 9/30/2020 9/30/2021 9/30/2020 Noninterest Income Other service charges $ 685 $ 720 $ 2,064 $ 2,108 Earnings from corporate owned life insurance 367 559 1,478 1,617 Net gains on the sales of loans originated for sale 296 378 878 1,245 Other income 421 161 988 1,418 Total other income $ 1,769 $ 1,818 $ 5,408 $ 6,388 Noninterest Expenses Marketing expense $ 1,171 $ 927 $ 2,798 $ 2,806 Professional fees 1,854 1,398 5,280 4,654 Legal fees 294 418 735 955 Technology expense 2,913 2,941 8,818 8,771 Cardholder expense 827 827 2,489 2,396 Penalties on prepayment of FHLB borrowings 2,929 0 2,929 0 Other expenses 4,176 4,195 12,470 13,971 Total other operating expense $ 14,164 $ 10,706 $ 35,519 $ 33,553 |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition As stated in Note 1 - "Summary of Significant Accounting Policies," in the 2020 Annual Report on Form 10-K, the Company adopted ASU No. 2014-09 “Revenue from Contracts with Customers” (ASC 606) and all subsequent ASUs that modified ASC 606, on January 1, 2018. ASC 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives, and certain credit card fees are also not in scope of ASC 606. ASC 606 is applicable to noninterest revenue streams such as trust and asset management income, deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. However, the recognition of these revenue streams did not change significantly upon adoption of ASC 606. Insurance Commissions and Fees Insurance commissions and fees from insurance product sales are typically earned upon the effective date of bound coverage, as no significant performance obligation remains after coverage is bound. Commission revenue on policies billed in installments is now accrued based upon the completion of the performance obligation creating a current asset for the unbilled revenue until such time as an invoice is generated, typically not to exceed twelve months. The impact of these changes was not significant, but it will result in slight variances from quarter to quarter. Contingent commissions are estimated based upon management’s expectations for the year with an appropriate constraint applied and accrued relative to the recognition of the corresponding core commissions. Trust & Asset Management Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to customers’ accounts. The Company does not earn performance-based incentives. Optional services such as real estate sales and tax return preparation services are also available to existing trust and asset management customers. The Company’s performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered. Mutual Fund & Investment Income Mutual fund and investment income consists of other recurring revenue streams such as commissions from sales of mutual funds and other investments, investment advisory fees from the Company’s Strategic Asset Management Services (SAM) wealth management product. Commissions from the sale of mutual funds and other investments are recognized on trade date, which is when the Company has satisfied its performance obligation. The Company also receives periodic service fees (i.e., trailers) from mutual fund companies typically based on a percentage of net asset value, recorded over time, usually monthly or quarterly, as net asset value is determined. Investment advisor fees from the wealth management product is earned over time and based on an annual percentage rate of the net asset value. The investment advisor fees are charged to the customer’s account in advance on the first month of the quarter, and the revenue is recognized over the following three-month period. The Company does engage a third party, LPL Financial, LLC (LPL), to satisfy part of this performance obligation, and therefore this income is reported net of any corresponding expenses paid to LPL. Service Charges on Deposit Accounts Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. Card Services Income Fees, exchange, and other service charges are primarily comprised of debit and credit card income, ATM fees, merchant services income, and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as MasterCard. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. The Company’s performance obligation for fees and exchange are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Other Other service charges include revenue from processing wire and ACH transfers, lock box service and safe deposit box rental. Payment on these revenue streams is received primarily through a direct charge to the customer’s account, immediately or in the following month, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. The following tables present noninterest income, segregated by revenue streams in-scope and out-of-scope of ASC 606, for the three and nine months ended September 30, 2021 and 2020. Three Months Ended (In thousands) 09/30/2021 09/30/2020 Noninterest Income In-scope of Topic 606: Commissions and Fees $ 8,930 $ 8,136 Installment Billing 166 175 Refund of Commissions (103) (104) Contingent Commissions 840 709 Subtotal Insurance Revenues 9,833 8,916 Trust and Asset Management 3,522 3,070 Mutual Fund & Investment Income 1,435 1,222 Subtotal Investment Service Income 4,957 4,292 Service Charges on Deposit Accounts 1,638 1,444 Card Services Income 2,717 2,419 Other 286 285 Noninterest Income (in-scope of ASC 606) 19,431 17,356 Noninterest Income (out-of-scope of ASC 606) 1,423 1,531 Total Noninterest Income $ 20,854 $ 18,887 Nine Months Ended (In thousands) 9/30/2021 9/30/2020 Noninterest Income In-scope of Topic 606: Commissions and Fees $ 24,101 $ 22,545 Installment Billing 149 96 Refund of Commissions (92) (458) Contract Liabilities/Deferred Revenue (237) (208) Contingent Commissions 3,132 2,241 Subtotal Insurance Revenues 27,053 24,216 Trust and Asset Management 10,222 8,798 Mutual Fund & Investment Income 4,125 3,616 Subtotal Investment Service Income 14,347 12,414 Service Charges on Deposit Accounts 4,579 4,675 Card Services Income 8,051 6,885 Other 885 837 Noninterest Income (in-scope of ASC 606) 54,915 49,027 Noninterest Income (out-of-scope of ASC 606) 4,780 5,997 Total Noninterest Income $ 59,695 $ 55,024 Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration or before payment is due, which would result in contract receivables or assets, respectively. A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment or for which payment is due from the customer. The Company’s noninterest revenue streams, excluding some insurance commissions and fees, are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Receivables primarily consist of amounts due for insurance and wealth management services performed for which the Company's performance obligations have been fully satisfied. Receivables for the insurance and wealth management services segments amounted to $6.4 million and $2.1 million, respectively, at September 30, 2021, compared to $5.2 million and $2.2 million, respectively, at December 31, 2020. Included in those amounts are contract assets related to contingent income of $1.9 million and $2.5 million, respectively, at September 30, 2021 and December 31, 2020, and contract liabilities of $0.5 million and $2.0 million, respectively at September 30, 2021 and December 31, 2020. Contract Acquisition Costs |
Financial Guarantees
Financial Guarantees | 9 Months Ended |
Sep. 30, 2021 | |
Guarantees [Abstract] | |
Financial Guarantees | Financial Guarantees The Company currently does not issue any guarantees that would require liability recognition or disclosure, other than standby letters of credit. The Company extends standby letters of credit to its customers in the normal course of business. The standby letters of credit are generally short-term. As of September 30, 2021, the Company’s maximum potential obligation under standby letters of credit was $39.2 million compared to $31.4 million at December 31, 2020. Management uses the same credit policies to extend standby letters of credit that it uses for on-balance sheet lending decisions and may require collateral to support standby letters of credit based upon its evaluation of the counterparty. Management does not anticipate any significant losses as a result of these transactions, and has determined that the fair value of standby letters of credit is not significant. |
Segment and Related Information
Segment and Related Information | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Segment and Related Information | Segment and Related Information The Company manages its operations through three reportable business segments in accordance with the standards set forth in FASB ASC 280, “Segment Reporting”: (i) banking (“Banking”), (ii) insurance (“Tompkins Insurance”) and (iii) wealth management (“Tompkins Financial Advisors”). The Company’s insurance services and wealth management services, other than trust services, are managed separately from the Banking segment. Banking The Banking segment is primarily comprised of the Company’s four banking subsidiaries: Tompkins Trust Company, a commercial bank with thirteen banking offices located in Ithaca, NY and surrounding communities; The Bank of Castile (DBA Tompkins Bank of Castile), a commercial bank with sixteen banking offices located in the Genesee Valley region of New York State as well as Monroe County; Mahopac Bank (DBA Tompkins Mahopac Bank), a commercial bank with fourteen full-service banking offices located in the counties north of New York City; and VIST Bank (DBA Tompkins VIST Bank), a banking organization with twenty banking offices headquartered and operating in the areas surrounding southeastern Pennsylvania. As described above in greater detail in Note 1 - "Business", the Company's subsidiary banks have announced plans for a rebranding effort, pursuant to which the Company's four wholly-owned banking subsidiaries will be combined into one bank which will conduct business under the "Tompkins" brand name, with a legal name of "Tompkins Community Bank." Insurance The Company provides property and casualty insurance services and employee benefits consulting through Tompkins Insurance Agencies, Inc., a 100% wholly-owned subsidiary of the Company, headquartered in Batavia, New York. Tompkins Insurance is an independent insurance agency, representing many major insurance carriers and provides employee benefit consulting to employers in Western and Central New York and Southeastern Pennsylvania, assisting them with their medical, group life insurance and group disability insurance. Tompkins Insurance has five stand-alone offices in Western New York. Wealth Management The Wealth Management segment is generally organized under the Tompkins Financial Advisors brand. Tompkins Trust Company, under the Tompkins Financial Advisors brand offers a comprehensive suite of financial services to customers, including trust and estate services, investment management and financial and insurance planning for individuals, corporate executives, small business owners and high net worth individuals. Tompkins Financial Advisors has offices in each of the Company’s four subsidiary banks. Summarized financial information concerning the Company’s reportable segments and the reconciliation to the Company’s consolidated results is shown in the following table. Investment in subsidiaries is netted out of the presentations below. The “Intercompany” column identifies the intercompany activities of revenues, expenses and other assets between the banking, insurance and wealth management services segments. The Company accounts for intercompany fees and services at an estimated fair value according to regulatory requirements for the services provided. Intercompany items relate primarily to the use of human resources, information systems, accounting and marketing services provided by any of the banks and the holding company. All other accounting policies are the same as those described in the summary of significant accounting policies in the 2020 Annual Report on Form 10-K. As of and for the three months ended September 30, 2021 (In thousands) Banking Insurance Wealth Management Intercompany Consolidated Interest income $ 61,110 $ 8 $ 0 $ (4) $ 61,114 Interest expense 5,020 0 0 (4) 5,016 Net interest income 56,090 8 0 0 56,098 (Credit) provision for credit loss expense (1,232) 0 0 0 (1,232) Noninterest income 6,416 9,950 5,047 (559) 20,854 Noninterest expense 40,587 6,846 3,306 (559) 50,180 Income before income tax expense 23,151 3,112 1,741 0 28,004 Income tax expense 5,351 855 424 0 6,630 Net Income attributable to noncontrolling interests and Tompkins Financial Corporation 17,800 2,257 1,317 0 21,374 Less: Net income attributable to noncontrolling interests 32 0 0 0 32 Net Income attributable to Tompkins Financial Corporation $ 17,768 $ 2,257 $ 1,317 $ 0 $ 21,342 Depreciation and amortization $ 2,528 $ 52 $ 14 $ 0 $ 2,594 Assets 8,051,446 45,855 32,257 (16,448) 8,113,110 Goodwill 64,370 19,866 8,211 0 92,447 Other intangibles, net 1,814 2,102 73 0 3,989 Net loans and leases 5,050,519 0 0 0 5,050,519 Deposits 7,105,651 0 0 (14,753) 7,090,898 Total Equity 659,365 33,529 29,463 0 722,357 As of and for the three months ended September 30, 2020 (In thousands) Banking Insurance Wealth Intercompany Consolidated Interest income $ 64,316 $ 1 $ 0 $ (1) $ 64,316 Interest expense 6,064 0 0 (1) 6,063 Net interest income 58,252 1 0 0 58,253 Provision for credit loss expense (218) 0 0 0 (218) Noninterest income 5,976 9,023 4,434 (546) 18,887 Noninterest expense 37,405 6,559 3,348 (546) 46,766 Income before income tax expense 27,041 2,465 1,086 0 30,592 Income tax expense 5,397 670 263 0 6,330 Net Income attributable to noncontrolling interests and Tompkins Financial Corporation 21,644 1,795 823 0 24,262 Less: Net income attributable to noncontrolling interests 32 0 0 0 32 Net Income attributable to Tompkins Financial Corporation $ 21,612 $ 1,795 $ 823 $ 0 $ 24,230 Depreciation and amortization $ 2,474 $ 57 $ 18 $ 0 $ 2,549 Assets 7,738,933 42,269 26,956 (13,656) 7,794,502 Goodwill 64,585 19,866 7,996 0 92,447 Other intangibles, net 2,600 2,507 104 0 5,211 Net loans and leases 5,346,004 0 0 0 5,346,004 Deposits 6,613,421 0 0 (12,183) 6,601,238 Total Equity 657,370 32,095 24,146 0 713,611 As of and for the nine months ended September 30, 2021 (In thousands) Banking Insurance Wealth Intercompany Consolidated Interest income $ 180,708 $ 10 $ 0 $ (14) $ 180,704 Interest expense 14,737 0 0 (14) 14,723 Net interest income 165,971 10 0 0 165,981 (Credit) provision for credit loss expense (6,133) 0 0 0 (6,133) Noninterest income 19,175 27,531 14,638 (1,649) 59,695 Noninterest expense 113,792 20,044 9,946 (1,649) 142,133 Income before income tax expense 77,487 7,497 4,692 0 89,676 Income tax expense 16,595 2,057 1,129 0 19,781 Net Income attributable to noncontrolling interests and Tompkins Financial Corporation 60,892 5,440 3,563 0 69,895 Less: Net income attributable to noncontrolling interests 96 0 0 0 96 Net Income attributable to Tompkins Financial Corporation $ 60,796 $ 5,440 $ 3,563 $ 0 $ 69,799 Depreciation and amortization $ 7,493 $ 162 $ 41 $ 0 $ 7,696 As of and for the nine months ended September 30, 2020 (In thousands) Banking Insurance Wealth Intercompany Consolidated Interest income $ 190,960 $ 3 $ 0 $ (3) $ 190,960 Interest expense 23,375 0 0 (3) 23,372 Net interest income 167,585 3 0 0 167,588 Provision for credit loss expense 17,418 0 0 0 17,418 Noninterest income 19,217 24,533 12,903 (1,629) 55,024 Noninterest expense 110,114 19,479 9,740 (1,629) 137,704 Income before income tax expense 59,270 5,057 3,163 0 67,490 Income tax expense 11,665 1,362 752 0 13,779 Net Income attributable to noncontrolling interests and Tompkins Financial Corporation 47,605 3,695 2,411 0 53,711 Less: Net income attributable to noncontrolling interests 101 0 0 0 101 Net Income attributable to Tompkins Financial Corporation $ 47,504 $ 3,695 $ 2,411 $ 0 $ 53,610 Depreciation and amortization $ 7,443 $ 173 $ 38 $ 0 $ 7,654 |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements FASB ASC Topic 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. ASC 820 also establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Transfers between levels, when determined to be appropriate, are recognized at the end of each reporting period. The three levels of the fair value hierarchy under ASC 820 are: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 – Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020, segregated by the level of valuation inputs within the fair value hierarchy used to measure fair value. Recurring Fair Value Measurements September 30, 2021 (In thousands) Total (Level 1) (Level 2) (Level 3) Available-for-sale debt securities U.S. Treasuries $ 138,928 $ 0 $ 138,928 $ 0 Obligations of U.S. Government sponsored entities 810,343 0 810,343 0 Obligations of U.S. states and political subdivisions 109,911 0 109,911 0 Mortgage-backed securities – residential, issued by: U.S. Government agencies 89,320 0 89,320 0 U.S. Government sponsored entities 916,004 0 916,004 0 U.S. corporate debt securities 2,421 0 2,421 0 Total Available-for-sale debt securities $ 2,066,927 $ 0 $ 2,066,927 $ 0 Equity securities, at fair value $ 910 $ 0 $ 0 $ 910 Recurring Fair Value Measurements December 31, 2020 (In thousands) Total (Level 1) (Level 2) (Level 3) Available-for-sale debt securities Obligations of U.S. Government sponsored entities $ 607,480 $ 0 $ 607,480 $ 0 Obligations of U.S. states and political subdivisions 129,746 0 129,746 0 Mortgage-backed securities – residential, issued by: U.S. Government agencies 182,108 0 182,108 0 U.S. Government sponsored entities 705,480 0 705,480 0 U.S. corporate debt securities 2,379 0 2,379 0 Total Available-for-sale debt securities $ 1,627,193 $ 0 $ 1,627,193 $ 0 Equity securities, at fair value $ 929 $ 0 $ 0 $ 929 Securities: Fair values for U.S. Treasury securities are based on quoted market prices. Fair values for obligations of U.S. government sponsored entities, mortgage-backed securities-residential, obligations of U.S. states and political subdivisions, and U.S. corporate debt securities are based on quoted market prices, where available, as provided by third party pricing vendors. If quoted market prices were not available, fair values are based on quoted market prices of comparable instruments in active markets and/or based upon a matrix pricing methodology, which uses comprehensive interest rate tables to determine market price, movement and yield relationships. These securities are reviewed periodically to determine if there are any events or changes in circumstances that would adversely affect their value. The change in the fair value of equity securities valued using significant unobservable inputs (level 3), for the periods ended September 30, 2021 and December 31, 2020, was immaterial. There were no transfers between Levels 1, 2 and 3 for the nine months ended September 30, 2021. The Company determines fair value for its available-for-sale debt securities using an independent bond pricing service for identical assets or very similar securities. The Company determines fair value for its equity securities based on the underlying equity fund’s pricing and valuation procedures which consider recent sales price, market quotations from a pricing service, or market quotes from an independent broker-dealer. The Company has reviewed the pricing sources, including methodologies used, and finds them to be fairly stated. Certain assets are measured at fair value on a nonrecurring basis. For the Company, these include loans held for sale, individually evaluated loans, and other real estate owned (“OREO”). For the three and nine months ended September 30, 2021, certain individually evaluated loans were remeasured and reported at fair value through a specific valuation allowance and/or partial charge-offs for credit losses based upon the fair value of the underlying collateral. Collateral values are estimated using Level 3 inputs based upon customized discounting criteria. In addition to collateral dependent evaluated loans, certain other real estate owned were remeasured and reported at fair value based upon the fair value of the underlying collateral. The fair values of other real estate owned are estimated using Level 2 inputs based on observable market data or Level 3 inputs based on customized discounting criteria. In general, the fair values of other real estate owned are based upon appraisals, with discounts made to reflect estimated costs to sell the real estate. Upon initial recognition, fair value write-downs are taken through a charge-off to the allowance for credit losses. Subsequent fair value write-downs on other real estate owned are reported in other noninterest expense. Three months ended September 30, 2021 (In thousands) Fair value measurements at reporting Gain (losses) Assets: As of 09/30/2021 Quoted prices in Significant other Significant Three months ended 9/30/2021 Individually evaluated $ 1,122 $ 0 $ 0 $ 1,122 $ (150) Other real estate owned 46 0 46 0 0 Three months ended September 30, 2020 (In thousands) Fair value measurements at reporting Gain (losses) Assets: As of 09/30/2020 Quoted prices in Significant other Significant Three months ended 9/30/2020 Individually evaluated $ 6,330 $ 0 $ 6,330 $ 0 $ 0 Other real estate owned 36 0 36 0 (4) Nine months ended September 30, 2021 (In thousands) Fair value measurements at reporting Gain (losses) Assets: As of 09/30/2021 Quoted prices in Significant other Significant Nine months ended 9/30/2021 Individually evaluated $ 30,848 $ 0 $ 0 $ 30,848 $ (150) Other real estate owned 46 0 46 0 (8) Nine months ended September 30, 2020 (In thousands) Fair value measurements at reporting Gain (losses) Assets: As of 09/30/2020 Quoted prices in Significant other Significant Nine months ended 9/30/2020 Individually evaluated $ 10,759 $ 0 $ 10,759 $ 0 $ (1,305) Other real estate owned 124 0 124 0 (27) The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at September 30, 2021 and December 31, 2020. The carrying amounts shown in the table are included in the Consolidated Statements of Condition under the indicated captions. The fair value estimates, methods and assumptions set forth below for the Company's financial instruments, including those financial instruments carried at cost, are made solely to comply with disclosures required by U.S. GAAP and should be read in conjunction with the financial statements and notes included in this Report. For loans where the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the loan to be provided substantially through the operation or sale of the collateral, the ACL is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. For real estate loans, fair value of the loan’s collateral is determined by third party appraisals, which are then adjusted for the estimated selling and closing costs related to liquidation of the collateral. For this asset class, the actual valuation methods (income, sales comparable, or cost) vary based on the status of the project or property. For example, land is generally based on the sales comparable method while construction is based on the income and/or sales comparable methods. The unobservable inputs may vary depending on the individual assets with no one of the three methods being the predominant approach. The Company reviews the third party appraisal for appropriateness and adjusts the value downward to consider selling and closing costs, which typically range from 5% to 8% of the appraised value. For non-real estate loans, fair value of the loan’s collateral may be determined using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business. Estimated Fair Value of Financial Instruments September 30, 2021 (In thousands) Carrying Fair Value (Level 1) (Level 2) (Level 3) Financial Assets: Cash and cash equivalents $ 333,487 $ 333,487 $ 333,487 $ 0 $ 0 Securities - held-to-maturity 269,268 268,283 0 268,283 0 FHLB and other stock 10,366 10,366 0 10,366 0 Accrued interest receivable 23,350 23,350 0 23,350 0 Loans/leases, net 1 5,050,519 5,072,855 0 0 5,072,855 Financial Liabilities: Time deposits $ 675,499 $ 679,335 $ 0 $ 679,335 $ 0 Other deposits 6,415,399 6,415,399 0 6,415,399 0 Fed funds purchased and securities sold under agreements to repurchase 72,490 72,490 0 72,490 0 Other borrowings 110,000 112,573 0 112,573 0 Trust preferred debentures 0 0 0 0 0 Accrued interest payable 900 900 0 900 0 Estimated Fair Value of Financial Instruments December 31, 2020 (In thousands) Carrying Fair Value (Level 1) (Level 2) (Level 3) Financial Assets: Cash and cash equivalents $ 388,462 $ 388,462 $ 388,462 $ 0 $ 0 FHLB and other stock 16,382 16,382 0 16,382 0 Accrued interest receivable 32,025 32,025 0 32,025 0 Loans/leases, net 1 5,208,658 5,226,301 0 22,171 5,204,130 Financial Liabilities: Time deposits $ 746,234 $ 753,045 $ 0 $ 753,045 $ 0 Other deposits 5,691,518 5,691,518 0 5,691,518 0 Fed funds purchased and securities sold under agreements to repurchase 65,845 65,845 0 65,845 0 Other borrowings 265,000 274,238 0 274,238 0 Trust preferred debentures 13,220 18,483 0 18,483 0 Accrued interest payable 1,727 1,727 0 1,727 0 1 Lease receivables, although excluded from the scope of ASC Topic 825, are included in the estimated fair value amounts at their carrying value. The following methods and assumptions were used in estimating fair value disclosures for financial instruments: Cash and Cash Equivalents: The carrying amounts reported in the Consolidated Statements of Condition for cash, noninterest-bearing deposits, money market funds, and Federal funds sold approximate the fair value of those assets. FHLB Stock: The carrying amount of FHLB stock approximates fair value. If the stock is redeemed, the Company will receive an amount equal to the par value of the stock. For miscellaneous equity securities, carrying value is cost. Loans and Leases: Fair value for loans are calculated using an exit price notion. The Company's valuation methodology takes into account factors such as estimated cash flows, including contractual cash flow and assumptions for prepayments; liquidity risk; and credit risk. The fair values of residential loans were estimated using discounted cash flow analyses, based upon available market benchmarks for rates and prepayment assumptions. The fair values of commercial and consumer loans were estimated using discounted cash flow analyses, based upon interest rates currently offered for loans and leases with similar terms and credit quality. The fair values of loans held for sale were determined based upon contractual prices for loans with similar characteristics. Accrued Interest Receivable and Accrued Interest Payable: The carrying amount of these short term instruments approximate fair value. Deposits: The fair values disclosed for noninterest bearing accounts and accounts with no stated maturities are equal to the amount payable on demand at the reporting date. The fair value of time deposits is based upon discounted cash flow analyses using rates offered for FHLB advances, which is the Company’s primary alternative source of funds. Trust Preferred Debentures: The fair value of the trust preferred debentures has been estimated using a discounted cash flow analysis which uses a discount factor of a market spread over current interest rates for similar instruments. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of available-for-sale securities | The following table summarizes available-for-sale debt securities held by the Company at September 30, 2021: Available-for-Sale Debt Securities September 30, 2021 Amortized Gross Gross Fair Value (In thousands) U.S. Treasuries $ 140,373 $ 2 $ 1,447 $ 138,928 Obligations of U.S. Government sponsored entities 813,833 6,001 9,491 810,343 Obligations of U.S. states and political subdivisions 107,912 2,144 145 109,911 Mortgage-backed securities – residential, issued by U.S. Government agencies 88,135 1,607 422 89,320 U.S. Government sponsored entities 919,745 8,267 12,008 916,004 U.S. corporate debt securities 2,500 0 79 2,421 Total available-for-sale debt securities $ 2,072,498 $ 18,021 $ 23,592 $ 2,066,927 The following table summarizes available-for-sale debt securities held by the Company at December 31, 2020: Available-for-Sale Debt Securities December 31, 2020 Amortized Gross Gross Fair Value (In thousands) Obligations of U.S. Government sponsored entities $ 599,652 $ 9,820 $ 1,992 $ 607,480 Obligations of U.S. states and political subdivisions 126,642 3,144 40 129,746 Mortgage-backed securities – residential, issued by U.S. Government agencies 179,538 3,216 646 182,108 U.S. Government sponsored entities 691,562 14,593 675 705,480 U.S. corporate debt securities 2,500 0 121 2,379 Total available-for-sale debt securities $ 1,599,894 $ 30,773 $ 3,474 $ 1,627,193 |
Schedule of held-to-maturity securities | The following table summarizes held-to-maturity debt securities held by the Company at September 30, 2021: Held-to-Maturity Securities September 30, 2021 Amortized Gross Gross Fair Value (In thousands) U.S. Treasuries $ 86,740 $ 321 $ 630 $ 86,431 Obligations of U.S. Government sponsored entities 182,528 793 1,469 181,852 Total held-to-maturity debt securities $ 269,268 $ 1,114 $ 2,099 $ 268,283 |
Schedule of available-for-sale securities with unrealized losses | The following table summarizes available-for-sale debt securities that had unrealized losses at September 30, 2021 , and December 31, 2020. Less than 12 Months 12 Months or Longer Total (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasuries $ 137,935 $ 1,447 $ 0 $ 0 $ 137,935 $ 1,447 Obligations of U.S. Government sponsored entities 326,852 3,879 276,710 5,612 603,562 9,491 Obligations of U.S. states and political subdivisions 14,192 126 1,281 19 15,473 145 Mortgage-backed securities – residential, issued by U.S. Government agencies 34,808 405 1,285 17 36,093 422 U.S. Government sponsored entities 609,541 10,743 33,837 1,265 643,378 12,008 U.S. corporate debt securities 0 0 2,421 79 2,421 79 Total available-for-sale debt securities $ 1,123,328 $ 16,600 $ 315,534 $ 6,992 $ 1,438,862 $ 23,592 Less than 12 Months 12 Months or Longer Total (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. Government sponsored entities $ 310,711 $ 1,992 $ 0 $ 0 $ 310,711 $ 1,992 Obligations of U.S. states and political subdivisions 8,868 40 0 0 8,868 40 Mortgage-backed securities – residential, issued by U.S. Government agencies 10,560 396 1,819 250 12,379 646 U.S. Government sponsored entities 87,643 586 5,068 89 92,711 675 U.S. corporate debt securities 0 0 2,379 121 2,379 121 Total available-for-sale debt securities $ 417,782 $ 3,014 $ 9,266 $ 460 $ 427,048 $ 3,474 |
Schedule held-to-maturity securities with unrealized losses | The following table summarizes held-to-maturity debt securities that had unrealized losses at September 30, 2021 . Less than 12 Months 12 Months or Longer Total (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasuries $ 35,277 $ 630 $ 0 $ 0 $ 35,277 $ 630 Obligations of U.S. Government sponsored entities 79,986 1,469 $ 0 $ 0 $ 79,986 1,469 Total held-to-maturity debt securities $ 115,263 $ 2,099 $ 0 $ 0 $ 115,263 $ 2,099 |
Schedule of amortized cost and estimated fair value of debt securities by contractual maturity | September 30, 2021 (In thousands) Amortized Cost Fair Value Available-for-sale debt securities: Due in one year or less $ 57,011 $ 57,604 Due after one year through five years 463,136 465,980 Due after five years through ten years 487,701 481,464 Due after ten years 56,770 56,555 Total 1,064,618 1,061,603 Mortgage-backed securities 1,007,880 1,005,324 Total available-for-sale debt securities $ 2,072,498 $ 2,066,927 December 31, 2020 (In thousands) Amortized Cost Fair Value Available-for-sale debt securities: Due in one year or less $ 54,484 $ 55,008 Due after one year through five years 379,044 388,132 Due after five years through ten years 228,572 229,107 Due after ten years 66,694 67,358 Total 728,794 739,605 Mortgage-backed securities 871,100 887,588 Total available-for-sale debt securities $ 1,599,894 $ 1,627,193 September 30, 2021 (In thousands) Amortized Cost Fair Value Held-to-maturity debt securities: Due after five years through ten years $ 269,268 $ 268,283 Total held-to-maturity debt securities $ 269,268 $ 268,283 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Schedule of loans and leases | Loans and leases at September 30, 2021 and December 31, 2020 were as follows: (In thousands) 9/30/2021 12/31/2020 Commercial and industrial Agriculture $ 78,335 $ 94,489 Commercial and industrial other 727,944 792,987 PPP loans* 141,930 291,252 Subtotal commercial and industrial 948,209 1,178,728 Commercial real estate Construction 170,646 163,016 Agriculture 192,183 201,866 Commercial real estate other 2,253,190 2,204,310 Subtotal commercial real estate 2,616,019 2,569,192 Residential real estate Home equity 185,625 200,827 Mortgages 1,270,005 1,235,160 Subtotal residential real estate 1,455,630 1,435,987 Consumer and other Indirect 5,595 8,401 Consumer and other 66,694 61,399 Subtotal consumer and other 72,289 69,800 Leases 14,337 14,203 Total loans and leases 5,106,484 5,267,910 Less: unearned income and deferred costs and fees (9,706) (7,583) Total loans and leases, net of unearned income and deferred costs and fees $ 5,096,778 $ 5,260,327 *SBA Paycheck Protection Program ("PPP") |
Schedule of age analysis of past due loans | The below table is an age analysis of past due loans, segregated by class of loans, as of September 30, 2021 and December 31, 2020. September 30, 2021 (In thousands) 30-59 Days 60-89 Days 90 Days or More Total Past Due Current Loans Total Loans Loans and Leases Commercial and industrial Agriculture $ 29 $ 0 $ 0 $ 29 $ 78,306 $ 78,335 Commercial and industrial other 459 4 424 887 727,057 727,944 PPP loans 0 0 0 0 141,930 141,930 Subtotal commercial and industrial 488 4 424 916 947,293 948,209 Commercial real estate Construction 0 0 0 0 170,646 170,646 Agriculture 58 0 0 58 192,125 192,183 Commercial real estate other 0 0 21,651 21,651 2,231,539 2,253,190 Subtotal commercial real estate 58 0 21,651 21,709 2,594,310 2,616,019 Residential real estate Home equity 159 0 1,039 1,198 184,427 185,625 Mortgages 93 365 5,325 5,783 1,264,222 1,270,005 Subtotal residential real estate 252 365 6,364 6,981 1,448,649 1,455,630 Consumer and other Indirect 91 77 155 323 5,272 5,595 Consumer and other 82 19 110 211 66,483 66,694 Subtotal consumer and other 173 96 265 534 71,755 72,289 Leases 0 0 0 0 14,337 14,337 Total loans and leases 971 465 28,704 30,140 5,076,344 5,106,484 Less: unearned income and deferred costs and fees 0 0 0 0 (9,706) (9,706) Total loans and leases, net of unearned income and deferred costs and fees $ 971 $ 465 $ 28,704 $ 30,140 $ 5,066,638 $ 5,096,778 December 31, 2020 (In thousands) 30-59 Days 60-89 Days 90 Days or More Total Past Due Current Loans Total Loans Loans and Leases Commercial and industrial Agriculture $ 0 $ 18 $ 0 $ 18 $ 94,471 $ 94,489 Commercial and industrial other 44 7 1,516 1,567 791,420 792,987 PPP loans 0 0 0 0 291,252 291,252 Subtotal commercial and industrial 44 25 1,516 1,585 1,177,143 1,178,728 Commercial real estate Construction 0 0 0 0 163,016 163,016 Agriculture 263 0 0 263 201,603 201,866 Commercial real estate other 0 0 7,125 7,125 2,197,185 2,204,310 Subtotal commercial real estate 263 0 7,125 7,388 2,561,804 2,569,192 Residential real estate Home equity 713 224 1,126 2,063 198,764 200,827 Mortgages 521 879 4,210 5,610 1,229,550 1,235,160 Subtotal residential real estate 1,234 1,103 5,336 7,673 1,428,314 1,435,987 Consumer and other Indirect 175 35 91 301 8,100 8,401 Consumer and other 115 18 232 365 61,034 61,399 Subtotal consumer and other 290 53 323 666 69,134 69,800 Leases 0 0 0 0 14,203 14,203 Total loans and leases 1,831 1,181 14,300 17,312 5,250,598 5,267,910 Less: unearned income and deferred costs and fees 0 0 0 0 (7,583) (7,583) Total loans and leases, net of unearned income and deferred costs and fees $ 1,831 $ 1,181 $ 14,300 $ 17,312 $ 5,243,015 $ 5,260,327 |
Schedule of loans on nonaccrual status | The following table presents the amortized cost basis of loans on nonaccrual status and the amortized cost basis of loans on nonaccrual status for which there was no related allowance for credit losses as of September 30, 2021 and December 31, 2020. September 30, 2021 (In thousands) Nonaccrual Loans and Leases with no Allowance for Credit Losses Nonaccrual Loans and Leases Loans and Leases Past Due Over 89 Days and Accruing Loans and Leases Commercial and industrial Commercial and industrial other $ 480 $ 543 $ 0 Subtotal commercial and industrial 480 543 0 Commercial real estate Construction 675 675 0 Agriculture 377 487 0 Commercial real estate other 24,518 33,860 7,463 Subtotal commercial real estate 25,570 35,022 7,463 Residential real estate Home equity 188 2,427 0 Mortgages 705 9,538 0 Subtotal residential real estate 893 11,965 0 Consumer and other Indirect 2 265 0 Consumer and other 0 146 0 Subtotal consumer and other 2 411 0 Leases 0 0 0 Total loans and leases $ 26,945 $ 47,941 $ 7,463 December 31, 2020 (In thousands) Nonaccrual Loans and Leases with no Allowance for Credit Losses Nonaccrual Loans and Leases Loans and Leases Past Due Over 89 Days and Accruing Loans and Leases Commercial and industrial Commercial and industrial other $ 803 $ 1,775 $ 0 Subtotal commercial and industrial 803 1,775 0 Commercial real estate Agriculture 0 118 0 Commercial real estate other 23,080 23,509 0 Subtotal commercial real estate 23,080 23,627 0 Residential real estate Home equity 767 2,965 0 Mortgages 1,365 10,180 0 Subtotal residential real estate 2,132 13,145 0 Consumer and other Indirect 3 169 0 Consumer and other 0 260 0 Subtotal consumer and other 3 429 0 Leases 0 0 0 Total loans and leases $ 26,018 $ 38,976 $ 0 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Schedule of allowance for loan and lease losses segregated by originated and acquired loan and lease portfolios and by portfolio segment | The following table details activity in the allowance for credit losses on loans for the three and nine months ended September 30, 2021 and 2020. The Company adopted ASU 2016-13 on January 1, 2020 using the modified retrospective approach. The transition adjustment included a decrease in the allowance of $2.5 million. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Three Months Ended September 30, 2021 (In thousands) Commercial Commercial Residential Consumer Finance Total Allowance for credit losses: Beginning balance $ 7,113 $ 29,201 $ 9,534 $ 1,590 $ 67 $ 47,505 Charge-offs (157) 0 0 (53) 0 (210) Recoveries 16 2 65 58 0 141 (Credit) provision for credit loss expense (774) (119) (184) (99) (1) (1,177) Ending Balance $ 6,198 $ 29,084 $ 9,415 $ 1,496 $ 66 $ 46,259 Three Months Ended September 30, 2020 (In thousands) Commercial Commercial Residential Consumer Finance Total Allowance for credit losses: Beginning balance $ 11,113 $ 24,286 $ 15,012 $ 1,596 $ 75 $ 52,082 Charge-offs 0 0 (30) (145) 0 (175) Recoveries 89 9 16 73 0 187 (Credit) provision for credit loss expense (3,918) 4,264 (65) (75) (7) 199 Ending Balance $ 7,284 $ 28,559 $ 14,933 $ 1,449 $ 68 $ 52,293 Nine Months Ended September 30, 2021 (In thousands) Commercial Commercial Residential Consumer Finance Total Allowance for credit losses: Beginning balances $ 9,239 $ 30,546 $ 10,257 $ 1,562 $ 65 $ 51,669 Charge-offs (274) 0 (51) (218) 0 (543) Recoveries 116 1,040 229 153 0 1,538 (Credit) provision for credit loss expense (2,883) (2,502) (1,020) (1) 1 (6,405) Ending Balance $ 6,198 $ 29,084 $ 9,415 $ 1,496 $ 66 $ 46,259 Nine Months Ended September 30, 2020 (In thousands) Commercial Commercial Residential Consumer Finance Total Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 10,541 $ 21,608 $ 6,381 $ 1,362 $ 0 $ 39,892 Impact of adopting ASC 326 (2,008) (5,917) 4,459 850 82 (2,534) Charge-offs (1) (1,305) (33) (409) 0 (1,748) Recoveries 125 40 178 195 0 538 (Credit) provision for credit loss expense (1,373) 14,133 3,948 (549) (14) 16,145 Ending Balance $ 7,284 $ 28,559 $ 14,933 $ 1,449 $ 68 $ 52,293 At September 30, 2021 and December 31, 2020, the balance of the allowance for credit losses for off-balance sheet exposures was $2.2 million and $1.9 million, respectively. The Company recorded a provision credit of $55,000 and a provision expense of $272,000 related to off-balance sheet credit exposures for the third quarter of 2021 and for the nine months ended September 30, 2021, respectively, compared to a provision credit of $417,000 and provision expense of $1.3 million, respectively, for the same periods in 2020. The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related allowance for credit losses allocated to these loans: (In thousands) Real Estate Business Assets Other Total ACL Allocation September 30, 2021 Commercial and Industrial $ 107 $ 461 $ 328 $ 896 $ 29 Commercial Real Estate 36,494 0 2 36,496 3,180 Total $ 36,601 $ 461 $ 330 $ 37,392 $ 3,209 (In thousands) Real Estate Business Assets Other Total ACL Allocation December 31, 2020 Commercial and Industrial $ 103 $ 582 $ 110 $ 795 $ 122 Commercial Real Estate 24,277 1,418 0 25,695 186 Total $ 24,380 $ 2,000 $ 110 $ 26,490 $ 308 |
Schedule of loans modified in troubled debt restructuring | The following tables present information on loans modified in a TDR during the three and nine months ended September 30, 2021 and 2020. Post-modification amounts are presented as of September 30, 2021 and September 30, 2020. September 30, 2021 Three Months Ended Defaulted TDRs 2 (In thousands) Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Loans Post-Modification Outstanding Recorded Investment Residential real estate Home equity 1 1 $ 112 $ 112 1 $ 201 Total 1 $ 112 $ 112 1 $ 201 1 Represents the following concessions: extension of term and reduction of rate. 2 TDRs that defaulted during the three months ended September 30, 2021 that were restructured in the prior twelve months. September 30, 2020 Three Months Ended Defaulted TDRs 2 (In thousands) Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Loans Post-Modification Outstanding Recorded Investment Commercial & industrial Commercial real estate other 1 1 $ 196 $ 196 0 $ 0 Consumer and other Consumer and other 1 1 4 4 0 0 Total 2 $ 200 $ 200 0 $ 0 1 Represents the following concessions: extension of term and reduction of rate. 2 TDRs that defaulted during the three months ended September 30, 2020 that were restructured in the prior twelve months. September 30, 2021 Nine Months Ended Defaulted TDRs 2 (In thousands) Number of Pre- Post-Modification Outstanding Recorded Investment Number of Post- Residential real estate Home equity 1 1 $ 112 $ 112 1 $ 201 Total 1 $ 112 $ 112 1 $ 201 1 Represents the following concessions: extension of term and reduction of rate. 2 TDRs that defaulted during the nine months ended September 30, 2021 that were restructured in the prior twelve months. Nine Months Ended September 30, 2020 Defaulted TDRs 2 (In thousands) Number of Pre- Post-Modification Outstanding Recorded Investment Number of Post- Commercial real estate Commercial real estate other 1 1 $ 196 $ 196 1 $ 37 Residential real estate Home equity 1 2 121 121 0 87 Consumer and other Consumer and other 1 1 4 4 0 0 Total 4 $ 321 $ 321 2 $ 124 1 Represents the following concessions: extension of term and reduction of rate. 2 TDRs that defaulted during the nine months ended September 30, 2020 that were restructured in the prior twelve months. |
Schedule of credit quality indicators by class of commercial and industrial loans and commercial real estate loans | The following table presents credit quality indicators by total loans on an amortized cost basis by origination year as of September 30, 2021 and December 31, 2020. September 30, 2021 (In thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Loans Commercial & Industrial - Other: Pass $ 99,129 $ 62,023 $ 57,126 $ 46,264 $ 43,901 $ 264,656 $ 138,153 $ 9,713 $ 720,965 Special Mention 164 815 532 141 310 523 705 0 3,190 Substandard 0 383 298 731 231 680 1,466 0 3,789 Total Commercial & Industrial - Other $ 99,293 $ 63,221 $ 57,956 $ 47,136 $ 44,442 $ 265,859 $ 140,324 $ 9,713 $ 727,944 Commercial and Industrial - PPP: Pass $ 139,564 $ 2,366 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 141,930 Special Mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Total Commercial and Industrial - PPP $ 139,564 $ 2,366 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 141,930 Commercial and Industrial - Agriculture: Pass $ 4,615 $ 7,736 $ 6,035 $ 9,497 $ 6,239 $ 3,590 $ 35,276 $ 566 $ 73,554 Special Mention 0 0 0 24 0 0 225 0 249 Substandard 0 89 17 0 106 2,328 1,992 0 4,532 Total Commercial and Industrial - Agriculture $ 4,615 $ 7,825 $ 6,052 $ 9,521 $ 6,345 $ 5,918 $ 37,493 $ 566 $ 78,335 Commercial Real Estate Pass $ 229,984 $ 269,752 $ 255,296 $ 205,093 $ 226,830 $ 824,671 $ 56,018 $ 33,366 $ 2,101,010 Special Mention 0 1,774 11,982 3,151 2,190 74,499 360 0 93,956 Substandard 0 0 5,012 18,472 8,516 26,051 173 0 58,224 Total Commercial Real Estate $ 229,984 $ 271,526 $ 272,290 $ 226,716 $ 237,536 $ 925,221 $ 56,551 $ 33,366 $ 2,253,190 Commercial Real Estate - Agriculture: Pass $ 13,096 $ 22,063 $ 30,564 $ 42,335 $ 23,616 $ 53,458 $ 2,252 $ 2,553 $ 189,937 Special Mention 0 483 0 0 0 381 49 0 913 Substandard 0 0 0 40 0 1,293 0 0 1,333 Total Commercial Real Estate - Agriculture $ 13,096 $ 22,546 $ 30,564 $ 42,375 $ 23,616 $ 55,132 $ 2,301 $ 2,553 $ 192,183 Commercial Real Estate - Construction Pass $ 10,828 $ 11,619 $ 17,533 $ 7,591 $ 1,343 $ 7,391 $ 105,778 $ 7,148 $ 169,231 Special Mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 648 767 0 1,415 Total Commercial Real Estate - Construction $ 10,828 $ 11,619 $ 17,533 $ 7,591 $ 1,343 $ 8,039 $ 106,545 $ 7,148 $ 170,646 December 31, 2020 (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Loans Commercial & Industrial - Other: Internal risk grade: Pass $ 91,597 $ 72,639 $ 56,191 $ 60,714 $ 33,402 $ 301,027 $ 149,969 $ 16,301 $ 781,840 Special Mention 1,064 367 344 912 2,045 228 1,331 0 6,291 Substandard 412 305 933 485 292 783 1,646 0 4,856 Total Commercial & Industrial - Other $ 93,073 $ 73,311 $ 57,468 $ 62,111 $ 35,739 $ 302,038 $ 152,946 $ 16,301 $ 792,987 Commercial and Industrial - Agriculture: Pass $ 11,536 $ 8,005 $ 11,162 $ 6,531 $ 3,539 $ 2,599 $ 41,936 $ 1,340 $ 86,648 Special Mention 0 0 28 729 0 0 2,080 0 2,837 Substandard 99 83 0 202 0 2,308 2,312 0 5,004 Total Commercial and Industrial - Agriculture $ 11,635 $ 8,088 $ 11,190 $ 7,462 $ 3,539 $ 4,907 $ 46,328 $ 1,340 $ 94,489 Commercial and Industrial - PPP: Pass $ 291,252 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 291,252 Special Mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Total Commercial and Industrial - PPP $ 291,252 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 291,252 Commercial Real Estate Pass $ 278,747 $ 246,331 $ 232,651 $ 237,487 $ 290,106 $ 664,027 $ 33,117 $ 64,903 $ 2,047,369 Special Mention 35 13,016 5,612 4,654 34,310 46,074 203 0 103,904 Substandard 0 4,933 18,395 6,172 5,625 17,610 302 0 53,037 Total Commercial Real Estate $ 278,782 $ 264,280 $ 256,658 $ 248,313 $ 330,041 $ 727,711 $ 33,622 $ 64,903 $ 2,204,310 Commercial Real Estate - Agriculture: Pass $ 22,440 $ 35,081 $ 44,519 $ 22,356 $ 17,081 $ 44,559 $ 919 $ 5,602 $ 192,557 Special Mention 1,960 0 575 1,366 1,053 6 49 0 5,009 Substandard 0 0 0 1,777 713 1,527 283 0 4,300 Total Commercial Real Estate - Agriculture $ 24,400 $ 35,081 $ 45,094 $ 25,499 $ 18,847 $ 46,092 $ 1,251 $ 5,602 $ 201,866 Commercial Real Estate - Construction Pass $ 14,465 $ 20,705 $ 7,999 $ 2,478 $ 1,879 $ 6,682 $ 85,513 $ 21,051 $ 160,772 Special Mention 0 0 0 0 0 467 1,453 0 1,920 Substandard 0 0 0 0 0 324 0 0 324 Total Commercial Real Estate - Construction $ 14,465 $ 20,705 $ 7,999 $ 2,478 $ 1,879 $ 7,473 $ 86,966 $ 21,051 $ 163,016 The following table presents credit quality indicators by total loans on an amortized cost basis by origination year as of September 30, 2021 and December 31, 2020, continued. September 30, 2021 (In thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Loans Residential - Home Equity Performing $ 1,395 $ 1,246 $ 3,157 $ 1,719 $ 1,728 $ 3,446 $ 165,588 $ 4,919 $ 183,198 Nonperforming 0 0 16 0 0 596 1,815 0 2,427 Total Residential - Home Equity $ 1,395 $ 1,246 $ 3,173 $ 1,719 $ 1,728 $ 4,042 $ 167,403 $ 4,919 $ 185,625 Residential - Mortgages Performing $ 233,145 $ 289,745 $ 168,894 $ 104,697 $ 132,204 $ 317,803 $ 13,062 $ 917 $ 1,260,467 Nonperforming 0 0 242 568 696 8,006 26 0 9,538 Total Residential - Mortgages $ 233,145 $ 289,745 $ 169,136 $ 105,265 $ 132,900 $ 325,809 $ 13,088 $ 917 $ 1,270,005 Consumer - Direct Performing $ 17,310 $ 11,569 $ 10,163 $ 5,962 $ 5,180 $ 11,265 $ 5,099 $ 0 $ 66,548 Nonperforming 0 5 64 63 11 0 3 $ 0 146 Total Consumer - Direct $ 17,310 $ 11,574 $ 10,227 $ 6,025 $ 5,191 $ 11,265 $ 5,102 $ 0 $ 66,694 Consumer - Indirect Performing $ 1,484 $ 965 $ 308 $ 1,987 $ 484 $ 102 $ 0 $ 0 $ 5,330 Nonperforming 0 0 137 98 2 28 0 0 265 Total Consumer Indirect $ 1,484 $ 965 $ 445 $ 2,085 $ 486 $ 130 $ 0 $ 0 $ 5,595 December 31, 2020 (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Loans Residential - Home Equity Performing $ 1,440 $ 2,764 $ 1,052 $ 2,120 $ 722 $ 1,106 $ 188,614 $ 44 $ 197,862 Nonperforming 0 18 0 0 194 506 2,247 0 2,965 Total Residential - Home Equity $ 1,440 $ 2,782 $ 1,052 $ 2,120 $ 916 $ 1,612 $ 190,861 $ 44 $ 200,827 Residential - Mortgages Performing $ 305,476 $ 193,543 $ 123,205 $ 155,699 $ 178,149 $ 255,556 $ 11,735 $ 1,617 $ 1,224,980 Nonperforming 0 258 455 706 1,404 7,305 52 0 10,180 Total Residential - Mortgages $ 305,476 $ 193,801 $ 123,660 $ 156,405 $ 179,553 $ 262,861 $ 11,787 $ 1,617 $ 1,235,160 Consumer - Direct Performing $ 14,840 $ 11,127 $ 8,011 $ 6,632 $ 2,854 $ 10,840 $ 6,835 $ 0 $ 61,139 Nonperforming 5 74 167 12 0 2 0 0 260 Total Consumer - Direct $ 14,845 $ 11,201 $ 8,178 $ 6,644 $ 2,854 $ 10,842 $ 6,835 $ 0 $ 61,399 Consumer - Indirect Performing $ 1,424 $ 1,878 $ 3,327 $ 1,128 $ 382 $ 93 $ 0 $ 0 $ 8,232 Nonperforming 0 67 44 7 36 15 0 0 169 Total Consumer Indirect $ 1,424 $ 1,945 $ 3,371 $ 1,135 $ 418 $ 108 $ 0 $ 0 $ 8,401 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of basic and diluted earnings per share | Earnings per share in the table below, for the three and nine month periods ended September 30, 2021 and 2020 are calculated under the two-class method as required by ASC Topic 260, Earnings Per Share. ASC 260 provides that unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. The Company has issued restricted stock awards that contain such rights and are therefore considered participating securities. Basic earnings per common share are calculated by dividing net income allocable to common stock by the weighted average number of common shares, excluding participating securities, during the period. Diluted earnings per common share include the dilutive effect of participating securities. Three Months Ended (In thousands, except share and per share data) 9/30/2021 9/30/2020 Basic Net income available to common shareholders $ 21,342 $ 24,230 Less: income attributable to unvested stock-based compensation awards (154) (278) Net earnings allocated to common shareholders 21,188 23,952 Weighted average shares outstanding, including unvested stock-based compensation awards 14,724,141 14,920,924 Less: average unvested stock-based compensation awards (229,608) (223,392) Weighted average shares outstanding - Basic 14,494,533 14,697,532 Diluted Net earnings allocated to common shareholders 21,188 23,952 Weighted average shares outstanding - Basic 14,494,533 14,697,532 Plus: incremental shares from assumed conversion of stock-based compensation awards 73,801 30,209 Weighted average shares outstanding - Diluted 14,568,334 14,727,741 Basic EPS $ 1.46 $ 1.63 Diluted EPS $ 1.45 $ 1.63 Nine Months Ended (In thousands, except share and per share data) 9/30/2021 9/30/2020 Basic Net income available to common shareholders $ 69,799 $ 53,610 Less: income attributable to unvested stock-based compensation awards (504) (628) Net earnings allocated to common shareholders 69,295 52,982 Weighted average shares outstanding, including unvested stock-based compensation awards 14,840,420 14,929,628 Less: unvested stock-based compensation awards (232,538) (230,181) Weighted average shares outstanding - Basic 14,607,882 14,699,447 Diluted Net earnings allocated to common shareholders 69,295 52,982 Weighted average shares outstanding - Basic 14,607,882 14,699,447 Plus: incremental shares from assumed conversion of stock-based compensation awards 79,303 39,474 Weighted average shares outstanding - Diluted 14,687,185 14,738,921 Basic EPS $ 4.74 $ 3.60 Diluted EPS $ 4.72 $ 3.59 |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Stockholders' Equity Note [Abstract] | |
Schedule of activity in accumulated other comprehensive income (loss) and amounts reclassified out of each component of accumulated other comprehensive (loss) income | The following tables present reclassifications out of accumulated other comprehensive income (loss) for the three and nine month periods ended September 30, 2021 and 2020. Three Months Ended September 30, 2021 (In thousands) Before-Tax Tax (Expense) Net of Tax Available-for-sale debt securities: Change in net unrealized gain/loss during the period $ (10,400) $ 2,548 $ (7,852) Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income 54 (13) 41 Net unrealized gains/losses (10,346) 2,535 (7,811) Employee benefit plans: Amortization of net retirement plan actuarial gain 738 (181) 557 Amortization of net retirement plan prior service cost 56 (14) 42 Employee benefit plans 794 (195) 599 Other comprehensive loss $ (9,552) $ 2,340 $ (7,212) Three Months Ended September 30, 2020 (In thousands) Before-Tax Tax (Expense) Net of Tax Available-for-sale debt securities: Change in net unrealized gain/loss during the period $ (4,374) $ 1,071 $ (3,303) Reclassification adjustment for net realized gain on sale of available-for-sale debt securities included in net income 0 0 0 Net unrealized gains/losses (4,374) 1,071 (3,303) Employee benefit plans: Amortization of net retirement plan actuarial gain 593 (146) 447 Amortization of net retirement plan prior service cost 53 (13) 40 Employee benefit plans 646 (159) 487 Other comprehensive loss $ (3,728) $ 912 $ (2,816) Nine Months Ended September 30, 2021 (In thousands) Before-Tax Tax (Expense) Net of Tax Available-for-sale debt securities: Change in net unrealized gain/loss during the period $ (32,595) $ 7,986 $ (24,609) Reclassification adjustment for net realized gain on sale of available-for-sale debt securities included in net income (275) 67 (208) Net unrealized gains/losses (32,870) 8,053 (24,817) Employee benefit plans: Amortization of net retirement plan actuarial loss 2,213 (542) 1,671 Amortization of net retirement plan prior service cost 167 (41) 126 Employee benefit plans 2,380 (583) 1,797 Other comprehensive loss $ (30,490) $ 7,470 $ (23,020) Nine Months Ended September 30, 2020 (In thousands) Before-Tax Tax (Expense) Net of Tax Available-for-sale debt securities: Change in net unrealized gain/loss during the period $ 24,592 $ (6,029) $ 18,563 Reclassification adjustment for net realized gain on sale of available-for-sale debt securities included in net income (429) 105 (324) Net unrealized gains/losses 24,163 (5,924) 18,239 Employee benefit plans: Amortization of net retirement plan actuarial loss 1,775 (435) 1,340 Amortization of net retirement plan prior service cost 160 (39) 121 Employee benefit plans 1,935 (474) 1,461 Other comprehensive income $ 26,098 $ (6,398) $ 19,700 The following table presents the activity in our accumulated other comprehensive income (loss) for the periods indicated: (In thousands) Available-for- Employee Accumulated Balance at June 30, 2021 $ 3,603 $ (51,485) $ (47,882) Other comprehensive (loss) income before reclassifications (7,852) 0 (7,852) Amounts reclassified from accumulated other comprehensive (loss) income 41 599 640 Net current-period other comprehensive (loss) income (7,811) 599 (7,212) Balance at September 30, 2021 $ (4,208) $ (50,886) $ (55,094) Balance at January 1, 2021 $ 20,609 $ (52,683) $ (32,074) Other comprehensive (loss) income before reclassifications (24,609) 0 (24,609) Amounts reclassified from accumulated other comprehensive (loss) income (208) 1,797 1,589 Net current-period other comprehensive (loss) income (24,817) 1,797 (23,020) Balance at September 30, 2021 $ (4,208) $ (50,886) $ (55,094) (In thousands) Available-for- Employee Accumulated Balance at July 1, 2020 $ 25,581 $ (46,629) $ (21,048) Other comprehensive income (loss) before reclassifications (3,303) 0 (3,303) Amounts reclassified from accumulated other comprehensive (loss) income 0 487 487 Net current-period other comprehensive (loss) income (3,303) 487 (2,816) Balance at September 30, 2020 $ 22,278 $ (46,142) $ (23,864) Balance at January 1, 2020 $ 4,039 $ (47,603) $ (43,564) Other comprehensive income (loss) before reclassifications 18,563 0 18,563 Amounts reclassified from accumulated other comprehensive (loss) income (324) 1,461 1,137 Net current-period other comprehensive income 18,239 1,461 19,700 Balance at September 30, 2020 $ 22,278 $ (46,142) $ (23,864) |
Schedule of reclassifications out of accumulated other comprehensive income (loss) | The following tables present the amounts reclassified out of each component of accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, 2021 Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) Amount 1 Affected Line Item in the Available-for-sale debt securities: Unrealized gains and losses on available-for-sale debt securities $ (54) Net (loss) gain on securities transactions 13 Tax expense (41) Net of tax Employee benefit plans: Amortization of the following 2 Net retirement plan actuarial loss (738) Other operating expense Net retirement plan prior service cost (56) Other operating expense (794) Total before tax 195 Tax benefit $ (599) Net of tax Three Months Ended September 30, 2020 Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) Amount 1 Affected Line Item in the Available-for-sale debt securities: Unrealized gains and losses on available-for-sale debt securities $ 0 Net (loss) gain on securities transactions 0 Tax expense 0 Net of tax Employee benefit plans: Amortization of the following 2 Net retirement plan actuarial loss (593) Other operating expense Net retirement plan prior service cost (53) Other operating expense (646) Total before tax 159 Tax benefit $ (487) Net of tax Nine Months Ended September 30, 2021 Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) Amount 1 Affected Line Item in the Available-for-sale debt securities: Unrealized gains and losses on available-for-sale debt securities $ 275 Net (loss) gain on securities transactions (67) Tax expense 208 Net of tax Employee benefit plans: Amortization of the following 2 Net retirement plan actuarial loss (2,213) Other operating expense Net retirement plan prior service cost (167) Other operating expense (2,380) Total before tax 583 Tax benefit $ (1,797) Net of tax Nine Months Ended September 30, 2020 Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) Amount 1 Affected Line Item in the Available-for-sale debt securities: Unrealized gains and losses on available-for-sale debt securities $ 429 Net (loss) gain on securities transactions (105) Tax expense 324 Net of tax Employee benefit plans: Amortization of the following 2 Net retirement plan actuarial loss (1,775) Other operating expense Net retirement plan prior service cost (160) Other operating expense (1,935) Total before tax 474 Tax benefit $ (1,461) Net of tax 1 Amounts in parentheses indicated debits in income statement. 2 The accumulated other comprehensive (loss) income components are included in the computation of net periodic benefit cost (See Note 8 - “Employee Benefit Plan”). |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Retirement Benefits [Abstract] | |
Schedule of components of net periodic benefit cost | Components of Net Periodic Benefit Cost Pension Benefits Life and Health SERP Benefits (In thousands) 9/30/2021 9/30/2020 9/30/2021 9/30/2020 9/30/2021 9/30/2020 Service cost $ 0 $ 0 $ 47 $ 43 $ 58 $ 54 Interest cost 407 593 45 61 173 228 Expected return on plan assets (1,413) (1,354) 0 0 0 0 Amortization of net retirement plan actuarial loss 390 353 78 39 270 200 Amortization of net retirement plan prior service (credit) cost 0 (2) (15) (15) 71 71 Net periodic benefit (income) cost $ (616) $ (410) $ 155 $ 128 $ 572 $ 553 Pension Benefits Life and Health SERP Benefits (In thousands) 9/30/2021 9/30/2020 9/30/2021 9/30/2020 9/30/2021 9/30/2020 Service cost $ 0 $ 0 $ 140 $ 129 $ 173 $ 161 Interest cost 1,221 1,778 135 183 519 685 Expected return on plan assets (4,239) (4,062) 0 0 0 0 Amortization of net retirement plan actuarial loss 1,170 1,058 234 116 810 600 Amortization of net retirement plan prior service cost (credit) 0 (7) (45) (45) 212 214 Net periodic benefit (income) cost $ (1,848) $ (1,233) $ 464 $ 383 $ 1,714 $ 1,660 |
Other Income and Operating Ex_2
Other Income and Operating Expense (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Other Income and Expenses [Abstract] | |
Schedule of other income and operating expense | Other income and operating expense totals are presented in the table below. Components of these totals exceeding 1% of the aggregate of total noninterest income and total noninterest expenses for any of the periods presented below are stated separately. Three Months Ended Nine Months Ended (In thousands) 9/30/2021 9/30/2020 9/30/2021 9/30/2020 Noninterest Income Other service charges $ 685 $ 720 $ 2,064 $ 2,108 Earnings from corporate owned life insurance 367 559 1,478 1,617 Net gains on the sales of loans originated for sale 296 378 878 1,245 Other income 421 161 988 1,418 Total other income $ 1,769 $ 1,818 $ 5,408 $ 6,388 Noninterest Expenses Marketing expense $ 1,171 $ 927 $ 2,798 $ 2,806 Professional fees 1,854 1,398 5,280 4,654 Legal fees 294 418 735 955 Technology expense 2,913 2,941 8,818 8,771 Cardholder expense 827 827 2,489 2,396 Penalties on prepayment of FHLB borrowings 2,929 0 2,929 0 Other expenses 4,176 4,195 12,470 13,971 Total other operating expense $ 14,164 $ 10,706 $ 35,519 $ 33,553 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of disaggregation of noninterest income, segregated by revenue streams in-scope and out-of-scope of ASC 606 | The following tables present noninterest income, segregated by revenue streams in-scope and out-of-scope of ASC 606, for the three and nine months ended September 30, 2021 and 2020. Three Months Ended (In thousands) 09/30/2021 09/30/2020 Noninterest Income In-scope of Topic 606: Commissions and Fees $ 8,930 $ 8,136 Installment Billing 166 175 Refund of Commissions (103) (104) Contingent Commissions 840 709 Subtotal Insurance Revenues 9,833 8,916 Trust and Asset Management 3,522 3,070 Mutual Fund & Investment Income 1,435 1,222 Subtotal Investment Service Income 4,957 4,292 Service Charges on Deposit Accounts 1,638 1,444 Card Services Income 2,717 2,419 Other 286 285 Noninterest Income (in-scope of ASC 606) 19,431 17,356 Noninterest Income (out-of-scope of ASC 606) 1,423 1,531 Total Noninterest Income $ 20,854 $ 18,887 Nine Months Ended (In thousands) 9/30/2021 9/30/2020 Noninterest Income In-scope of Topic 606: Commissions and Fees $ 24,101 $ 22,545 Installment Billing 149 96 Refund of Commissions (92) (458) Contract Liabilities/Deferred Revenue (237) (208) Contingent Commissions 3,132 2,241 Subtotal Insurance Revenues 27,053 24,216 Trust and Asset Management 10,222 8,798 Mutual Fund & Investment Income 4,125 3,616 Subtotal Investment Service Income 14,347 12,414 Service Charges on Deposit Accounts 4,579 4,675 Card Services Income 8,051 6,885 Other 885 837 Noninterest Income (in-scope of ASC 606) 54,915 49,027 Noninterest Income (out-of-scope of ASC 606) 4,780 5,997 Total Noninterest Income $ 59,695 $ 55,024 |
Segment and Related Informati_2
Segment and Related Information (Table) | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Schedule of segment and related information | Summarized financial information concerning the Company’s reportable segments and the reconciliation to the Company’s consolidated results is shown in the following table. Investment in subsidiaries is netted out of the presentations below. The “Intercompany” column identifies the intercompany activities of revenues, expenses and other assets between the banking, insurance and wealth management services segments. The Company accounts for intercompany fees and services at an estimated fair value according to regulatory requirements for the services provided. Intercompany items relate primarily to the use of human resources, information systems, accounting and marketing services provided by any of the banks and the holding company. All other accounting policies are the same as those described in the summary of significant accounting policies in the 2020 Annual Report on Form 10-K. As of and for the three months ended September 30, 2021 (In thousands) Banking Insurance Wealth Management Intercompany Consolidated Interest income $ 61,110 $ 8 $ 0 $ (4) $ 61,114 Interest expense 5,020 0 0 (4) 5,016 Net interest income 56,090 8 0 0 56,098 (Credit) provision for credit loss expense (1,232) 0 0 0 (1,232) Noninterest income 6,416 9,950 5,047 (559) 20,854 Noninterest expense 40,587 6,846 3,306 (559) 50,180 Income before income tax expense 23,151 3,112 1,741 0 28,004 Income tax expense 5,351 855 424 0 6,630 Net Income attributable to noncontrolling interests and Tompkins Financial Corporation 17,800 2,257 1,317 0 21,374 Less: Net income attributable to noncontrolling interests 32 0 0 0 32 Net Income attributable to Tompkins Financial Corporation $ 17,768 $ 2,257 $ 1,317 $ 0 $ 21,342 Depreciation and amortization $ 2,528 $ 52 $ 14 $ 0 $ 2,594 Assets 8,051,446 45,855 32,257 (16,448) 8,113,110 Goodwill 64,370 19,866 8,211 0 92,447 Other intangibles, net 1,814 2,102 73 0 3,989 Net loans and leases 5,050,519 0 0 0 5,050,519 Deposits 7,105,651 0 0 (14,753) 7,090,898 Total Equity 659,365 33,529 29,463 0 722,357 As of and for the three months ended September 30, 2020 (In thousands) Banking Insurance Wealth Intercompany Consolidated Interest income $ 64,316 $ 1 $ 0 $ (1) $ 64,316 Interest expense 6,064 0 0 (1) 6,063 Net interest income 58,252 1 0 0 58,253 Provision for credit loss expense (218) 0 0 0 (218) Noninterest income 5,976 9,023 4,434 (546) 18,887 Noninterest expense 37,405 6,559 3,348 (546) 46,766 Income before income tax expense 27,041 2,465 1,086 0 30,592 Income tax expense 5,397 670 263 0 6,330 Net Income attributable to noncontrolling interests and Tompkins Financial Corporation 21,644 1,795 823 0 24,262 Less: Net income attributable to noncontrolling interests 32 0 0 0 32 Net Income attributable to Tompkins Financial Corporation $ 21,612 $ 1,795 $ 823 $ 0 $ 24,230 Depreciation and amortization $ 2,474 $ 57 $ 18 $ 0 $ 2,549 Assets 7,738,933 42,269 26,956 (13,656) 7,794,502 Goodwill 64,585 19,866 7,996 0 92,447 Other intangibles, net 2,600 2,507 104 0 5,211 Net loans and leases 5,346,004 0 0 0 5,346,004 Deposits 6,613,421 0 0 (12,183) 6,601,238 Total Equity 657,370 32,095 24,146 0 713,611 As of and for the nine months ended September 30, 2021 (In thousands) Banking Insurance Wealth Intercompany Consolidated Interest income $ 180,708 $ 10 $ 0 $ (14) $ 180,704 Interest expense 14,737 0 0 (14) 14,723 Net interest income 165,971 10 0 0 165,981 (Credit) provision for credit loss expense (6,133) 0 0 0 (6,133) Noninterest income 19,175 27,531 14,638 (1,649) 59,695 Noninterest expense 113,792 20,044 9,946 (1,649) 142,133 Income before income tax expense 77,487 7,497 4,692 0 89,676 Income tax expense 16,595 2,057 1,129 0 19,781 Net Income attributable to noncontrolling interests and Tompkins Financial Corporation 60,892 5,440 3,563 0 69,895 Less: Net income attributable to noncontrolling interests 96 0 0 0 96 Net Income attributable to Tompkins Financial Corporation $ 60,796 $ 5,440 $ 3,563 $ 0 $ 69,799 Depreciation and amortization $ 7,493 $ 162 $ 41 $ 0 $ 7,696 As of and for the nine months ended September 30, 2020 (In thousands) Banking Insurance Wealth Intercompany Consolidated Interest income $ 190,960 $ 3 $ 0 $ (3) $ 190,960 Interest expense 23,375 0 0 (3) 23,372 Net interest income 167,585 3 0 0 167,588 Provision for credit loss expense 17,418 0 0 0 17,418 Noninterest income 19,217 24,533 12,903 (1,629) 55,024 Noninterest expense 110,114 19,479 9,740 (1,629) 137,704 Income before income tax expense 59,270 5,057 3,163 0 67,490 Income tax expense 11,665 1,362 752 0 13,779 Net Income attributable to noncontrolling interests and Tompkins Financial Corporation 47,605 3,695 2,411 0 53,711 Less: Net income attributable to noncontrolling interests 101 0 0 0 101 Net Income attributable to Tompkins Financial Corporation $ 47,504 $ 3,695 $ 2,411 $ 0 $ 53,610 Depreciation and amortization $ 7,443 $ 173 $ 38 $ 0 $ 7,654 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Summary of financial assets and financial liabilities measured at fair value on recurring basis | The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020, segregated by the level of valuation inputs within the fair value hierarchy used to measure fair value. Recurring Fair Value Measurements September 30, 2021 (In thousands) Total (Level 1) (Level 2) (Level 3) Available-for-sale debt securities U.S. Treasuries $ 138,928 $ 0 $ 138,928 $ 0 Obligations of U.S. Government sponsored entities 810,343 0 810,343 0 Obligations of U.S. states and political subdivisions 109,911 0 109,911 0 Mortgage-backed securities – residential, issued by: U.S. Government agencies 89,320 0 89,320 0 U.S. Government sponsored entities 916,004 0 916,004 0 U.S. corporate debt securities 2,421 0 2,421 0 Total Available-for-sale debt securities $ 2,066,927 $ 0 $ 2,066,927 $ 0 Equity securities, at fair value $ 910 $ 0 $ 0 $ 910 Recurring Fair Value Measurements December 31, 2020 (In thousands) Total (Level 1) (Level 2) (Level 3) Available-for-sale debt securities Obligations of U.S. Government sponsored entities $ 607,480 $ 0 $ 607,480 $ 0 Obligations of U.S. states and political subdivisions 129,746 0 129,746 0 Mortgage-backed securities – residential, issued by: U.S. Government agencies 182,108 0 182,108 0 U.S. Government sponsored entities 705,480 0 705,480 0 U.S. corporate debt securities 2,379 0 2,379 0 Total Available-for-sale debt securities $ 1,627,193 $ 0 $ 1,627,193 $ 0 Equity securities, at fair value $ 929 $ 0 $ 0 $ 929 |
Schedule of assets measured at fair value on nonrecurring basis | Three months ended September 30, 2021 (In thousands) Fair value measurements at reporting Gain (losses) Assets: As of 09/30/2021 Quoted prices in Significant other Significant Three months ended 9/30/2021 Individually evaluated $ 1,122 $ 0 $ 0 $ 1,122 $ (150) Other real estate owned 46 0 46 0 0 Three months ended September 30, 2020 (In thousands) Fair value measurements at reporting Gain (losses) Assets: As of 09/30/2020 Quoted prices in Significant other Significant Three months ended 9/30/2020 Individually evaluated $ 6,330 $ 0 $ 6,330 $ 0 $ 0 Other real estate owned 36 0 36 0 (4) Nine months ended September 30, 2021 (In thousands) Fair value measurements at reporting Gain (losses) Assets: As of 09/30/2021 Quoted prices in Significant other Significant Nine months ended 9/30/2021 Individually evaluated $ 30,848 $ 0 $ 0 $ 30,848 $ (150) Other real estate owned 46 0 46 0 (8) Nine months ended September 30, 2020 (In thousands) Fair value measurements at reporting Gain (losses) Assets: As of 09/30/2020 Quoted prices in Significant other Significant Nine months ended 9/30/2020 Individually evaluated $ 10,759 $ 0 $ 10,759 $ 0 $ (1,305) Other real estate owned 124 0 124 0 (27) |
Schedule of carrying amount and estimated fair value of financial instruments | The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at September 30, 2021 and December 31, 2020. The carrying amounts shown in the table are included in the Consolidated Statements of Condition under the indicated captions. The fair value estimates, methods and assumptions set forth below for the Company's financial instruments, including those financial instruments carried at cost, are made solely to comply with disclosures required by U.S. GAAP and should be read in conjunction with the financial statements and notes included in this Report. For loans where the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the loan to be provided substantially through the operation or sale of the collateral, the ACL is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. For real estate loans, fair value of the loan’s collateral is determined by third party appraisals, which are then adjusted for the estimated selling and closing costs related to liquidation of the collateral. For this asset class, the actual valuation methods (income, sales comparable, or cost) vary based on the status of the project or property. For example, land is generally based on the sales comparable method while construction is based on the income and/or sales comparable methods. The unobservable inputs may vary depending on the individual assets with no one of the three methods being the predominant approach. The Company reviews the third party appraisal for appropriateness and adjusts the value downward to consider selling and closing costs, which typically range from 5% to 8% of the appraised value. For non-real estate loans, fair value of the loan’s collateral may be determined using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business. Estimated Fair Value of Financial Instruments September 30, 2021 (In thousands) Carrying Fair Value (Level 1) (Level 2) (Level 3) Financial Assets: Cash and cash equivalents $ 333,487 $ 333,487 $ 333,487 $ 0 $ 0 Securities - held-to-maturity 269,268 268,283 0 268,283 0 FHLB and other stock 10,366 10,366 0 10,366 0 Accrued interest receivable 23,350 23,350 0 23,350 0 Loans/leases, net 1 5,050,519 5,072,855 0 0 5,072,855 Financial Liabilities: Time deposits $ 675,499 $ 679,335 $ 0 $ 679,335 $ 0 Other deposits 6,415,399 6,415,399 0 6,415,399 0 Fed funds purchased and securities sold under agreements to repurchase 72,490 72,490 0 72,490 0 Other borrowings 110,000 112,573 0 112,573 0 Trust preferred debentures 0 0 0 0 0 Accrued interest payable 900 900 0 900 0 Estimated Fair Value of Financial Instruments December 31, 2020 (In thousands) Carrying Fair Value (Level 1) (Level 2) (Level 3) Financial Assets: Cash and cash equivalents $ 388,462 $ 388,462 $ 388,462 $ 0 $ 0 FHLB and other stock 16,382 16,382 0 16,382 0 Accrued interest receivable 32,025 32,025 0 32,025 0 Loans/leases, net 1 5,208,658 5,226,301 0 22,171 5,204,130 Financial Liabilities: Time deposits $ 746,234 $ 753,045 $ 0 $ 753,045 $ 0 Other deposits 5,691,518 5,691,518 0 5,691,518 0 Fed funds purchased and securities sold under agreements to repurchase 65,845 65,845 0 65,845 0 Other borrowings 265,000 274,238 0 274,238 0 Trust preferred debentures 13,220 18,483 0 18,483 0 Accrued interest payable 1,727 1,727 0 1,727 0 1 Lease receivables, although excluded from the scope of ASC Topic 825, are included in the estimated fair value amounts at their carrying value. |
Business (Details)
Business (Details) | 9 Months Ended |
Sep. 30, 2021subsidiary | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of wholly owned subsidiaries | 4 |
Securities - Schedule of Availa
Securities - Schedule of Available-for-Sales Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 2,072,498 | $ 1,599,894 |
Gross Unrealized Gains | 18,021 | 30,773 |
Gross Unrealized Losses | 23,592 | 3,474 |
Fair Value | 2,066,927 | 1,627,193 |
U.S. Treasuries | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 140,373 | |
Gross Unrealized Gains | 2 | |
Gross Unrealized Losses | 1,447 | |
Fair Value | 138,928 | |
Obligations of U.S. Government sponsored entities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 813,833 | 599,652 |
Gross Unrealized Gains | 6,001 | 9,820 |
Gross Unrealized Losses | 9,491 | 1,992 |
Fair Value | 810,343 | 607,480 |
Obligations of U.S. states and political subdivisions | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 107,912 | 126,642 |
Gross Unrealized Gains | 2,144 | 3,144 |
Gross Unrealized Losses | 145 | 40 |
Fair Value | 109,911 | 129,746 |
U.S. Government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 88,135 | 179,538 |
Gross Unrealized Gains | 1,607 | 3,216 |
Gross Unrealized Losses | 422 | 646 |
Fair Value | 89,320 | 182,108 |
U.S. Government sponsored entities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 919,745 | 691,562 |
Gross Unrealized Gains | 8,267 | 14,593 |
Gross Unrealized Losses | 12,008 | 675 |
Fair Value | 916,004 | 705,480 |
U.S. corporate debt securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 2,500 | 2,500 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 79 | 121 |
Fair Value | $ 2,421 | $ 2,379 |
Securities - Schedule of Held-t
Securities - Schedule of Held-to-Maturity Securities (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 269,268,000 | $ 0 |
Gross Unrealized Gains | 1,114,000 | |
Gross Unrealized Losses | 2,099,000 | |
Fair Value | 268,283,000 | $ 0 |
U.S. Treasuries | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 86,740,000 | |
Gross Unrealized Gains | 321,000 | |
Gross Unrealized Losses | 630,000 | |
Fair Value | 86,431,000 | |
Obligations of U.S. Government sponsored entities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 182,528,000 | |
Gross Unrealized Gains | 793,000 | |
Gross Unrealized Losses | 1,469,000 | |
Fair Value | $ 181,852,000 |
Securities - Narrative (Details
Securities - Narrative (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||||
Debt securities, held-to-maturity, amortized cost | $ 269,268,000 | $ 269,268,000 | $ 0 | ||
Realized gains on available-for-sale debt securities | 797,000 | $ 0 | 1,100,000 | $ 178,000 | |
Realized losses on available-for-sale debt securities | 851,000 | 0 | 851,000 | 0 | |
Proceeds from sales of available-for-sale debt securities | 103,800,000 | 0 | 142,679,000 | 42,333,000 | |
Realized gains on called available-for-sale debt securities | 0 | 0 | 0 | 251,000 | |
Realized gains (losses) on equity securities, net | (6,000) | $ (2,000) | (18,000) | $ 17,000 | |
Unrealized Losses | 2,099,000 | 2,099,000 | 0 | ||
Held-to-maturity debt securities | 269,268,000 | 269,268,000 | $ 0 | ||
Federal Home Loan Bank New York (FHLBNY) | |||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||||
Holdings of FHLBNY, FHLBPITT and ACBB stock, amount of advances | 9,300,000 | 9,300,000 | |||
Federal Home Loan Bank Pittsburgh (FHLBPITT) | |||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||||
Holdings of FHLBNY, FHLBPITT and ACBB stock, amount of advances | 1,000,000 | 1,000,000 | |||
Atlantic Central Bankers Bank (ACBB) | |||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||||
Holdings of FHLBNY, FHLBPITT and ACBB stock, amount of advances | $ 95,000 | $ 95,000 |
Securities - Schedule of Avai_2
Securities - Schedule of Available-for-sale Securities with Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale securities | ||
Fair Value, Less than 12 Months | $ 1,123,328 | $ 417,782 |
Unrealized Losses, Less than 12 Months | 16,600 | 3,014 |
Fair Value, 12 Months or Longer | 315,534 | 9,266 |
Unrealized Losses, 12 Months or Longer | 6,992 | 460 |
Fair Value | 1,438,862 | 427,048 |
Unrealized Losses | 23,592 | 3,474 |
U.S. Treasuries | ||
Available-for-sale securities | ||
Fair Value, Less than 12 Months | 137,935 | |
Unrealized Losses, Less than 12 Months | 1,447 | |
Fair Value, 12 Months or Longer | 0 | |
Unrealized Losses, 12 Months or Longer | 0 | |
Fair Value | 137,935 | |
Unrealized Losses | 1,447 | |
Obligations of U.S. Government sponsored entities | ||
Available-for-sale securities | ||
Fair Value, Less than 12 Months | 326,852 | 310,711 |
Unrealized Losses, Less than 12 Months | 3,879 | 1,992 |
Fair Value, 12 Months or Longer | 276,710 | 0 |
Unrealized Losses, 12 Months or Longer | 5,612 | 0 |
Fair Value | 603,562 | 310,711 |
Unrealized Losses | 9,491 | 1,992 |
Obligations of U.S. states and political subdivisions | ||
Available-for-sale securities | ||
Fair Value, Less than 12 Months | 14,192 | 8,868 |
Unrealized Losses, Less than 12 Months | 126 | 40 |
Fair Value, 12 Months or Longer | 1,281 | 0 |
Unrealized Losses, 12 Months or Longer | 19 | 0 |
Fair Value | 15,473 | 8,868 |
Unrealized Losses | 145 | 40 |
U.S. Government agencies | ||
Available-for-sale securities | ||
Fair Value, Less than 12 Months | 34,808 | 10,560 |
Unrealized Losses, Less than 12 Months | 405 | 396 |
Fair Value, 12 Months or Longer | 1,285 | 1,819 |
Unrealized Losses, 12 Months or Longer | 17 | 250 |
Fair Value | 36,093 | 12,379 |
Unrealized Losses | 422 | 646 |
U.S. Government sponsored entities | ||
Available-for-sale securities | ||
Fair Value, Less than 12 Months | 609,541 | 87,643 |
Unrealized Losses, Less than 12 Months | 10,743 | 586 |
Fair Value, 12 Months or Longer | 33,837 | 5,068 |
Unrealized Losses, 12 Months or Longer | 1,265 | 89 |
Fair Value | 643,378 | 92,711 |
Unrealized Losses | 12,008 | 675 |
U.S. corporate debt securities | ||
Available-for-sale securities | ||
Fair Value, Less than 12 Months | 0 | 0 |
Unrealized Losses, Less than 12 Months | 0 | 0 |
Fair Value, 12 Months or Longer | 2,421 | 2,379 |
Unrealized Losses, 12 Months or Longer | 79 | 121 |
Fair Value | 2,421 | 2,379 |
Unrealized Losses | $ 79 | $ 121 |
Securities - Schedule of Held_2
Securities - Schedule of Held-to-maturity Securities with Unrealized Losses (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Held-to-maturity debt securities | ||
Fair Value, Less than 12 Months | $ 115,263,000 | |
Unrealized Losses, Less than 12 Months | 2,099,000 | |
Fair Value, 12 Months or Longer | 0 | |
Unrealized Losses, 12 Months or Longer | 0 | |
Fair Value | 115,263,000 | |
Unrealized Losses | 2,099,000 | $ 0 |
U.S. Treasuries | ||
Held-to-maturity debt securities | ||
Fair Value, Less than 12 Months | 35,277,000 | |
Unrealized Losses, Less than 12 Months | 630,000 | |
Fair Value, 12 Months or Longer | 0 | |
Unrealized Losses, 12 Months or Longer | 0 | |
Fair Value | 35,277,000 | |
Unrealized Losses | 630,000 | |
Obligations of U.S. Government sponsored entities | ||
Held-to-maturity debt securities | ||
Fair Value, Less than 12 Months | 79,986,000 | |
Unrealized Losses, Less than 12 Months | 1,469,000 | |
Fair Value, 12 Months or Longer | 0 | |
Unrealized Losses, 12 Months or Longer | 0 | |
Fair Value | 79,986,000 | |
Unrealized Losses | $ 1,469,000 |
Securities - Schedule of Avai_3
Securities - Schedule of Available-for-Sales Securities Amortized Cost and Estimated Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Amortized Cost | ||
Total | $ 1,064,618 | $ 728,794 |
Mortgage-backed securities | 1,007,880 | 871,100 |
Amortized Cost | 2,072,498 | 1,599,894 |
Fair Value | ||
Total | 1,061,603 | 739,605 |
Mortgage-backed securities | 1,005,324 | 887,588 |
Fair Value | 2,066,927 | 1,627,193 |
Available-for-sale securities | ||
Amortized Cost | ||
Due in one year or less | 57,011 | 54,484 |
Due after one year through five years | 463,136 | 379,044 |
Due after five years through ten years | 487,701 | 228,572 |
Due after ten years | 56,770 | 66,694 |
Fair Value | ||
Due in one year or less | 57,604 | 55,008 |
Due after one year through five years | 465,980 | 388,132 |
Due after five years through ten years | 481,464 | 229,107 |
Due after ten years | $ 56,555 | $ 67,358 |
Securities - Schedule of Held_3
Securities - Schedule of Held-to-Maturity Securities Amortized Cost and Estimated Fair Value (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Amortized Cost | ||
Due after five years through ten years | $ 269,268,000 | |
Total held-to-maturity debt securities | 269,268,000 | $ 0 |
Fair Value | ||
Due after five years through ten years | 268,283,000 | |
Total held-to-maturity debt securities | $ 268,283,000 | $ 0 |
Loans and Leases - Schedule of
Loans and Leases - Schedule of Loans and Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | $ 5,106,484 | $ 5,267,910 |
Less: unearned income and deferred costs and fees | (9,706) | (7,583) |
Total loans and leases, net of unearned income and deferred costs and fees | 5,096,778 | 5,260,327 |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 948,209 | 1,178,728 |
Commercial and industrial | Agriculture | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 78,335 | 94,489 |
Total loans and leases, net of unearned income and deferred costs and fees | 78,335 | 94,489 |
Commercial and industrial | Commercial real estate other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 727,944 | 792,987 |
Total loans and leases, net of unearned income and deferred costs and fees | 727,944 | 792,987 |
Commercial and industrial | PPP loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 141,930 | 291,252 |
Total loans and leases, net of unearned income and deferred costs and fees | 141,930 | 291,252 |
Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 2,616,019 | 2,569,192 |
Commercial real estate | Agriculture | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 192,183 | 201,866 |
Total loans and leases, net of unearned income and deferred costs and fees | 192,183 | 201,866 |
Commercial real estate | Commercial real estate other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 2,253,190 | 2,204,310 |
Total loans and leases, net of unearned income and deferred costs and fees | 2,253,190 | 2,204,310 |
Commercial real estate | Construction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 170,646 | 163,016 |
Total loans and leases, net of unearned income and deferred costs and fees | 170,646 | 163,016 |
Residential real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 1,455,630 | 1,435,987 |
Residential real estate | Home equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 185,625 | 200,827 |
Total loans and leases, net of unearned income and deferred costs and fees | 185,625 | 200,827 |
Residential real estate | Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 1,270,005 | 1,235,160 |
Total loans and leases, net of unearned income and deferred costs and fees | 1,270,005 | 1,235,160 |
Consumer and other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 72,289 | 69,800 |
Consumer and other | Commercial real estate other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 66,694 | 61,399 |
Consumer and other | Indirect | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 5,595 | 8,401 |
Total loans and leases, net of unearned income and deferred costs and fees | 5,595 | 8,401 |
Leases | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | $ 14,337 | $ 14,203 |
Loans and Leases - Schedule o_2
Loans and Leases - Schedule of Past Due Loans and Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | $ 5,106,484 | $ 5,267,910 |
Less: unearned income and deferred costs and fees | (9,706) | (7,583) |
Total loans and leases, net of unearned income and deferred costs and fees | 5,096,778 | 5,260,327 |
30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 971 | 1,831 |
60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 465 | 1,181 |
90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 28,704 | 14,300 |
Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 30,140 | 17,312 |
Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 5,076,344 | 5,250,598 |
Less: unearned income and deferred costs and fees | (9,706) | (7,583) |
Total loans and leases, net of unearned income and deferred costs and fees | 5,066,638 | 5,243,015 |
Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 948,209 | 1,178,728 |
Commercial and industrial | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 488 | 44 |
Commercial and industrial | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 4 | 25 |
Commercial and industrial | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 424 | 1,516 |
Commercial and industrial | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 916 | 1,585 |
Commercial and industrial | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 947,293 | 1,177,143 |
Commercial and industrial | Agriculture | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 78,335 | 94,489 |
Total loans and leases, net of unearned income and deferred costs and fees | 78,335 | 94,489 |
Commercial and industrial | Agriculture | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 29 | 0 |
Commercial and industrial | Agriculture | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 18 |
Commercial and industrial | Agriculture | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial and industrial | Agriculture | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 29 | 18 |
Commercial and industrial | Agriculture | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 78,306 | 94,471 |
Commercial and industrial | Commercial real estate other | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 727,944 | 792,987 |
Total loans and leases, net of unearned income and deferred costs and fees | 727,944 | 792,987 |
Commercial and industrial | Commercial real estate other | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 459 | 44 |
Commercial and industrial | Commercial real estate other | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 4 | 7 |
Commercial and industrial | Commercial real estate other | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 424 | 1,516 |
Commercial and industrial | Commercial real estate other | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 887 | 1,567 |
Commercial and industrial | Commercial real estate other | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 727,057 | 791,420 |
Commercial and industrial | PPP loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 141,930 | 291,252 |
Total loans and leases, net of unearned income and deferred costs and fees | 141,930 | 291,252 |
Commercial and industrial | PPP loans | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial and industrial | PPP loans | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial and industrial | PPP loans | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial and industrial | PPP loans | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial and industrial | PPP loans | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 141,930 | 291,252 |
Commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 2,616,019 | 2,569,192 |
Commercial real estate | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 58 | 263 |
Commercial real estate | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial real estate | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 21,651 | 7,125 |
Commercial real estate | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 21,709 | 7,388 |
Commercial real estate | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 2,594,310 | 2,561,804 |
Commercial real estate | Agriculture | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 192,183 | 201,866 |
Total loans and leases, net of unearned income and deferred costs and fees | 192,183 | 201,866 |
Commercial real estate | Agriculture | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 58 | 263 |
Commercial real estate | Agriculture | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial real estate | Agriculture | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial real estate | Agriculture | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 58 | 263 |
Commercial real estate | Agriculture | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 192,125 | 201,603 |
Commercial real estate | Commercial real estate other | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 2,253,190 | 2,204,310 |
Total loans and leases, net of unearned income and deferred costs and fees | 2,253,190 | 2,204,310 |
Commercial real estate | Commercial real estate other | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial real estate | Commercial real estate other | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial real estate | Commercial real estate other | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 21,651 | 7,125 |
Commercial real estate | Commercial real estate other | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 21,651 | 7,125 |
Commercial real estate | Commercial real estate other | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 2,231,539 | 2,197,185 |
Commercial real estate | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 170,646 | 163,016 |
Total loans and leases, net of unearned income and deferred costs and fees | 170,646 | 163,016 |
Commercial real estate | Construction | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial real estate | Construction | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial real estate | Construction | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial real estate | Construction | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Commercial real estate | Construction | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 170,646 | 163,016 |
Residential real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 1,455,630 | 1,435,987 |
Residential real estate | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 252 | 1,234 |
Residential real estate | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 365 | 1,103 |
Residential real estate | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 6,364 | 5,336 |
Residential real estate | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 6,981 | 7,673 |
Residential real estate | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 1,448,649 | 1,428,314 |
Residential real estate | Home equity | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 185,625 | 200,827 |
Total loans and leases, net of unearned income and deferred costs and fees | 185,625 | 200,827 |
Residential real estate | Home equity | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 159 | 713 |
Residential real estate | Home equity | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 224 |
Residential real estate | Home equity | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 1,039 | 1,126 |
Residential real estate | Home equity | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 1,198 | 2,063 |
Residential real estate | Home equity | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 184,427 | 198,764 |
Residential real estate | Mortgages | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 1,270,005 | 1,235,160 |
Total loans and leases, net of unearned income and deferred costs and fees | 1,270,005 | 1,235,160 |
Residential real estate | Mortgages | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 93 | 521 |
Residential real estate | Mortgages | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 365 | 879 |
Residential real estate | Mortgages | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 5,325 | 4,210 |
Residential real estate | Mortgages | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 5,783 | 5,610 |
Residential real estate | Mortgages | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 1,264,222 | 1,229,550 |
Consumer and other | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 72,289 | 69,800 |
Consumer and other | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 173 | 290 |
Consumer and other | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 96 | 53 |
Consumer and other | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 265 | 323 |
Consumer and other | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 534 | 666 |
Consumer and other | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 71,755 | 69,134 |
Consumer and other | Commercial real estate other | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 66,694 | 61,399 |
Consumer and other | Commercial real estate other | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 82 | 115 |
Consumer and other | Commercial real estate other | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 19 | 18 |
Consumer and other | Commercial real estate other | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 110 | 232 |
Consumer and other | Commercial real estate other | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 211 | 365 |
Consumer and other | Commercial real estate other | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 66,483 | 61,034 |
Consumer and other | Indirect | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 5,595 | 8,401 |
Total loans and leases, net of unearned income and deferred costs and fees | 5,595 | 8,401 |
Consumer and other | Indirect | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 91 | 175 |
Consumer and other | Indirect | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 77 | 35 |
Consumer and other | Indirect | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 155 | 91 |
Consumer and other | Indirect | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 323 | 301 |
Consumer and other | Indirect | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 5,272 | 8,100 |
Leases | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 14,337 | 14,203 |
Leases | 30-59 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Leases | 60-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Leases | 90 Days or More | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Leases | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | 0 | 0 |
Leases | Current Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans and leases | $ 14,337 | $ 14,203 |
Loans and Leases - Nonaccrual L
Loans and Leases - Nonaccrual Loans (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | $ 26,945,000 | $ 26,945,000 | $ 26,018,000 | ||
Nonaccrual Loans and Leases | 47,941,000 | 47,941,000 | 38,976,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 7,463,000 | 7,463,000 | 0 | ||
Interest on nonaccrual loans | 0 | $ 0 | 0 | $ 0 | |
Commercial and industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 480,000 | 480,000 | 803,000 | ||
Nonaccrual Loans and Leases | 543,000 | 543,000 | 1,775,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 0 | 0 | 0 | ||
Commercial and industrial | Commercial real estate other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 480,000 | 480,000 | 803,000 | ||
Nonaccrual Loans and Leases | 543,000 | 543,000 | 1,775,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 0 | 0 | 0 | ||
Commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 25,570,000 | 25,570,000 | 23,080,000 | ||
Nonaccrual Loans and Leases | 35,022,000 | 35,022,000 | 23,627,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 7,463,000 | 7,463,000 | 0 | ||
Commercial real estate | Agriculture | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 377,000 | 377,000 | 0 | ||
Nonaccrual Loans and Leases | 487,000 | 487,000 | 118,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 0 | 0 | 0 | ||
Commercial real estate | Commercial real estate other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 24,518,000 | 24,518,000 | 23,080,000 | ||
Nonaccrual Loans and Leases | 33,860,000 | 33,860,000 | 23,509,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 7,463,000 | 7,463,000 | 0 | ||
Residential real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 893,000 | 893,000 | 2,132,000 | ||
Nonaccrual Loans and Leases | 11,965,000 | 11,965,000 | 13,145,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 0 | 0 | 0 | ||
Residential real estate | Home equity | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 188,000 | 188,000 | 767,000 | ||
Nonaccrual Loans and Leases | 2,427,000 | 2,427,000 | 2,965,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 0 | 0 | 0 | ||
Residential real estate | Mortgages | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 705,000 | 705,000 | 1,365,000 | ||
Nonaccrual Loans and Leases | 9,538,000 | 9,538,000 | 10,180,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 0 | 0 | 0 | ||
Consumer and other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 2,000 | 2,000 | 3,000 | ||
Nonaccrual Loans and Leases | 411,000 | 411,000 | 429,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 0 | 0 | 0 | ||
Consumer and other | Commercial real estate other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 0 | 0 | 0 | ||
Nonaccrual Loans and Leases | 146,000 | 146,000 | 260,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 0 | 0 | 0 | ||
Consumer and other | Indirect | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 2,000 | 2,000 | 3,000 | ||
Nonaccrual Loans and Leases | 265,000 | 265,000 | 169,000 | ||
Loans and Leases Past Due Over 89 Days and Accruing | 0 | 0 | 0 | ||
Leases | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual Loans and Leases with no Allowance for Credit Losses | 0 | 0 | 0 | ||
Nonaccrual Loans and Leases | 0 | 0 | 0 | ||
Loans and Leases Past Due Over 89 Days and Accruing | $ 0 | $ 0 | $ 0 |
Allowance for Credit Losses - S
Allowance for Credit Losses - Schedule of Detail in Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | $ 47,505 | $ 52,082 | $ 51,669 | $ 39,892 | |
Charge-offs | (210) | (175) | (543) | (1,748) | |
Recoveries | 141 | 187 | 1,538 | 538 | |
(Credit) provision for credit loss expense | (1,177) | 199 | (6,405) | 16,145 | |
Ending balance | 46,259 | 52,293 | 46,259 | 52,293 | |
Allowance for credit losses for off-balance | 2,200 | 2,200 | $ 1,900 | ||
Provision off-balance sheet, loss expense (reversal) | (55) | (417) | (272) | 1,300 | |
Commercial and industrial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 7,113 | 11,113 | 9,239 | 10,541 | |
Charge-offs | (157) | 0 | (274) | (1) | |
Recoveries | 16 | 89 | 116 | 125 | |
(Credit) provision for credit loss expense | (774) | (3,918) | (2,883) | (1,373) | |
Ending balance | 6,198 | 7,284 | 6,198 | 7,284 | |
Commercial real estate | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 29,201 | 24,286 | 30,546 | 21,608 | |
Charge-offs | 0 | 0 | 0 | (1,305) | |
Recoveries | 2 | 9 | 1,040 | 40 | |
(Credit) provision for credit loss expense | (119) | 4,264 | (2,502) | 14,133 | |
Ending balance | 29,084 | 28,559 | 29,084 | 28,559 | |
Residential real estate | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 9,534 | 15,012 | 10,257 | 6,381 | |
Charge-offs | 0 | (30) | (51) | (33) | |
Recoveries | 65 | 16 | 229 | 178 | |
(Credit) provision for credit loss expense | (184) | (65) | (1,020) | 3,948 | |
Ending balance | 9,415 | 14,933 | 9,415 | 14,933 | |
Consumer and other | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 1,590 | 1,596 | 1,562 | 1,362 | |
Charge-offs | (53) | (145) | (218) | (409) | |
Recoveries | 58 | 73 | 153 | 195 | |
(Credit) provision for credit loss expense | (99) | (75) | (1) | (549) | |
Ending balance | 1,496 | 1,449 | 1,496 | 1,449 | |
Finance Leases | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 67 | 75 | 65 | 0 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
(Credit) provision for credit loss expense | (1) | (7) | 1 | (14) | |
Ending balance | $ 66 | $ 68 | 66 | 68 | |
Cumulative Effect, Period of Adoption, Adjustment | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | $ 2,500 | (2,534) | |||
Cumulative Effect, Period of Adoption, Adjustment | Commercial and industrial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | (2,008) | ||||
Cumulative Effect, Period of Adoption, Adjustment | Commercial real estate | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | (5,917) | ||||
Cumulative Effect, Period of Adoption, Adjustment | Residential real estate | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 4,459 | ||||
Cumulative Effect, Period of Adoption, Adjustment | Consumer and other | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 850 | ||||
Cumulative Effect, Period of Adoption, Adjustment | Finance Leases | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | $ 82 |
Allowance for Credit Losses - C
Allowance for Credit Losses - Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | $ 37,392 | $ 26,490 |
ACL Allocation | 3,209 | 308 |
Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 36,601 | 24,380 |
Business Assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 461 | 2,000 |
Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 330 | 110 |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 896 | 795 |
ACL Allocation | 29 | 122 |
Commercial and industrial | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 107 | 103 |
Commercial and industrial | Business Assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 461 | 582 |
Commercial and industrial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 328 | 110 |
Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 36,496 | 25,695 |
ACL Allocation | 3,180 | 186 |
Commercial real estate | Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 36,494 | 24,277 |
Commercial real estate | Business Assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 0 | 1,418 |
Commercial real estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | $ 2 | $ 0 |
Allowance for Credit Losses - L
Allowance for Credit Losses - Loans Modified in Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021USD ($)loan | Sep. 30, 2020USD ($)loan | Sep. 30, 2021USD ($)loan | Sep. 30, 2020USD ($)loan | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | loan | 1 | 2 | 1 | 4 |
Pre- Modification Outstanding Recorded Investment | $ 112 | $ 200 | $ 112 | $ 321 |
Post-Modification Outstanding Recorded Investment | $ 112 | $ 200 | $ 112 | $ 321 |
Number of Loans | loan | 1,000 | 0 | 1 | 2 |
Post- Modification Outstanding Recorded Investment | $ 201 | $ 0 | $ 201 | $ 124 |
Commercial and industrial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | loan | 1 | |||
Pre- Modification Outstanding Recorded Investment | $ 196 | |||
Post-Modification Outstanding Recorded Investment | $ 196 | |||
Number of Loans | loan | 0 | |||
Post- Modification Outstanding Recorded Investment | $ 0 | |||
Residential real estate | Home equity | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | loan | 1 | 1 | 2 | |
Pre- Modification Outstanding Recorded Investment | $ 112 | $ 112 | $ 121 | |
Post-Modification Outstanding Recorded Investment | $ 112 | $ 112 | $ 121 | |
Number of Loans | loan | 1,000 | 1 | 0 | |
Post- Modification Outstanding Recorded Investment | $ 201 | $ 201 | $ 87 | |
Consumer and Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | loan | 1 | 1 | ||
Pre- Modification Outstanding Recorded Investment | $ 4 | $ 4 | ||
Post-Modification Outstanding Recorded Investment | $ 4 | $ 4 | ||
Number of Loans | loan | 0 | 0 | ||
Post- Modification Outstanding Recorded Investment | $ 0 | $ 0 | ||
Commercial Real Estate | Commercial real estate other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | loan | 1 | |||
Pre- Modification Outstanding Recorded Investment | $ 196 | |||
Post-Modification Outstanding Recorded Investment | $ 196 | |||
Number of Loans | loan | 1 | |||
Post- Modification Outstanding Recorded Investment | $ 37 |
Allowance for Credit Losses -_2
Allowance for Credit Losses - Credit Quality Indicators by Commercial and Industrial Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases, net of unearned income and deferred costs and fees | $ 5,096,778 | $ 5,260,327 |
Commercial and industrial | Commercial real estate other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 99,293 | 93,073 |
One year before current fiscal year | 63,221 | 73,311 |
Two years before current fiscal year | 57,956 | 57,468 |
Three years before current fiscal year | 47,136 | 62,111 |
Four years before current fiscal year | 44,442 | 35,739 |
Prior | 265,859 | 302,038 |
Revolving Loans Amortized Cost Basis | 140,324 | 152,946 |
Revolving Loans Converted to Term | 9,713 | 16,301 |
Total loans and leases, net of unearned income and deferred costs and fees | 727,944 | 792,987 |
Commercial and industrial | Commercial real estate other | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 99,129 | 91,597 |
One year before current fiscal year | 62,023 | 72,639 |
Two years before current fiscal year | 57,126 | 56,191 |
Three years before current fiscal year | 46,264 | 60,714 |
Four years before current fiscal year | 43,901 | 33,402 |
Prior | 264,656 | 301,027 |
Revolving Loans Amortized Cost Basis | 138,153 | 149,969 |
Revolving Loans Converted to Term | 9,713 | 16,301 |
Total loans and leases, net of unearned income and deferred costs and fees | 720,965 | 781,840 |
Commercial and industrial | Commercial real estate other | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 164 | 1,064 |
One year before current fiscal year | 815 | 367 |
Two years before current fiscal year | 532 | 344 |
Three years before current fiscal year | 141 | 912 |
Four years before current fiscal year | 310 | 2,045 |
Prior | 523 | 228 |
Revolving Loans Amortized Cost Basis | 705 | 1,331 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 3,190 | 6,291 |
Commercial and industrial | Commercial real estate other | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 412 |
One year before current fiscal year | 383 | 305 |
Two years before current fiscal year | 298 | 933 |
Three years before current fiscal year | 731 | 485 |
Four years before current fiscal year | 231 | 292 |
Prior | 680 | 783 |
Revolving Loans Amortized Cost Basis | 1,466 | 1,646 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 3,789 | 4,856 |
Commercial and industrial | PPP loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 139,564 | 291,252 |
One year before current fiscal year | 2,366 | 0 |
Two years before current fiscal year | 0 | 0 |
Three years before current fiscal year | 0 | 0 |
Four years before current fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 141,930 | 291,252 |
Commercial and industrial | PPP loans | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 139,564 | 291,252 |
One year before current fiscal year | 2,366 | 0 |
Two years before current fiscal year | 0 | 0 |
Three years before current fiscal year | 0 | 0 |
Four years before current fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 141,930 | 291,252 |
Commercial and industrial | PPP loans | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 0 |
Two years before current fiscal year | 0 | 0 |
Three years before current fiscal year | 0 | 0 |
Four years before current fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 0 | 0 |
Commercial and industrial | PPP loans | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 0 |
Two years before current fiscal year | 0 | 0 |
Three years before current fiscal year | 0 | 0 |
Four years before current fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 0 | 0 |
Commercial and industrial | Agriculture | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 4,615 | 11,635 |
One year before current fiscal year | 7,825 | 8,088 |
Two years before current fiscal year | 6,052 | 11,190 |
Three years before current fiscal year | 9,521 | 7,462 |
Four years before current fiscal year | 6,345 | 3,539 |
Prior | 5,918 | 4,907 |
Revolving Loans Amortized Cost Basis | 37,493 | 46,328 |
Revolving Loans Converted to Term | 566 | 1,340 |
Total loans and leases, net of unearned income and deferred costs and fees | 78,335 | 94,489 |
Commercial and industrial | Agriculture | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 4,615 | 11,536 |
One year before current fiscal year | 7,736 | 8,005 |
Two years before current fiscal year | 6,035 | 11,162 |
Three years before current fiscal year | 9,497 | 6,531 |
Four years before current fiscal year | 6,239 | 3,539 |
Prior | 3,590 | 2,599 |
Revolving Loans Amortized Cost Basis | 35,276 | 41,936 |
Revolving Loans Converted to Term | 566 | 1,340 |
Total loans and leases, net of unearned income and deferred costs and fees | 73,554 | 86,648 |
Commercial and industrial | Agriculture | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 0 |
Two years before current fiscal year | 0 | 28 |
Three years before current fiscal year | 24 | 729 |
Four years before current fiscal year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans Amortized Cost Basis | 225 | 2,080 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 249 | 2,837 |
Commercial and industrial | Agriculture | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 99 |
One year before current fiscal year | 89 | 83 |
Two years before current fiscal year | 17 | 0 |
Three years before current fiscal year | 0 | 202 |
Four years before current fiscal year | 106 | 0 |
Prior | 2,328 | 2,308 |
Revolving Loans Amortized Cost Basis | 1,992 | 2,312 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 4,532 | 5,004 |
Commercial real estate | Commercial real estate other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 229,984 | 278,782 |
One year before current fiscal year | 271,526 | 264,280 |
Two years before current fiscal year | 272,290 | 256,658 |
Three years before current fiscal year | 226,716 | 248,313 |
Four years before current fiscal year | 237,536 | 330,041 |
Prior | 925,221 | 727,711 |
Revolving Loans Amortized Cost Basis | 56,551 | 33,622 |
Revolving Loans Converted to Term | 33,366 | 64,903 |
Total loans and leases, net of unearned income and deferred costs and fees | 2,253,190 | 2,204,310 |
Commercial real estate | Commercial real estate other | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 229,984 | 278,747 |
One year before current fiscal year | 269,752 | 246,331 |
Two years before current fiscal year | 255,296 | 232,651 |
Three years before current fiscal year | 205,093 | 237,487 |
Four years before current fiscal year | 226,830 | 290,106 |
Prior | 824,671 | 664,027 |
Revolving Loans Amortized Cost Basis | 56,018 | 33,117 |
Revolving Loans Converted to Term | 33,366 | 64,903 |
Total loans and leases, net of unearned income and deferred costs and fees | 2,101,010 | 2,047,369 |
Commercial real estate | Commercial real estate other | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 35 |
One year before current fiscal year | 1,774 | 13,016 |
Two years before current fiscal year | 11,982 | 5,612 |
Three years before current fiscal year | 3,151 | 4,654 |
Four years before current fiscal year | 2,190 | 34,310 |
Prior | 74,499 | 46,074 |
Revolving Loans Amortized Cost Basis | 360 | 203 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 93,956 | 103,904 |
Commercial real estate | Commercial real estate other | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 4,933 |
Two years before current fiscal year | 5,012 | 18,395 |
Three years before current fiscal year | 18,472 | 6,172 |
Four years before current fiscal year | 8,516 | 5,625 |
Prior | 26,051 | 17,610 |
Revolving Loans Amortized Cost Basis | 173 | 302 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 58,224 | 53,037 |
Commercial real estate | Agriculture | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 13,096 | 24,400 |
One year before current fiscal year | 22,546 | 35,081 |
Two years before current fiscal year | 30,564 | 45,094 |
Three years before current fiscal year | 42,375 | 25,499 |
Four years before current fiscal year | 23,616 | 18,847 |
Prior | 55,132 | 46,092 |
Revolving Loans Amortized Cost Basis | 2,301 | 1,251 |
Revolving Loans Converted to Term | 2,553 | 5,602 |
Total loans and leases, net of unearned income and deferred costs and fees | 192,183 | 201,866 |
Commercial real estate | Agriculture | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 13,096 | 22,440 |
One year before current fiscal year | 22,063 | 35,081 |
Two years before current fiscal year | 30,564 | 44,519 |
Three years before current fiscal year | 42,335 | 22,356 |
Four years before current fiscal year | 23,616 | 17,081 |
Prior | 53,458 | 44,559 |
Revolving Loans Amortized Cost Basis | 2,252 | 919 |
Revolving Loans Converted to Term | 2,553 | 5,602 |
Total loans and leases, net of unearned income and deferred costs and fees | 189,937 | 192,557 |
Commercial real estate | Agriculture | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 1,960 |
One year before current fiscal year | 483 | 0 |
Two years before current fiscal year | 0 | 575 |
Three years before current fiscal year | 0 | 1,366 |
Four years before current fiscal year | 0 | 1,053 |
Prior | 381 | 6 |
Revolving Loans Amortized Cost Basis | 49 | 49 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 913 | 5,009 |
Commercial real estate | Agriculture | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 0 |
Two years before current fiscal year | 0 | 0 |
Three years before current fiscal year | 40 | 1,777 |
Four years before current fiscal year | 0 | 713 |
Prior | 1,293 | 1,527 |
Revolving Loans Amortized Cost Basis | 0 | 283 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 1,333 | 4,300 |
Commercial real estate | Construction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 10,828 | 14,465 |
One year before current fiscal year | 11,619 | 20,705 |
Two years before current fiscal year | 17,533 | 7,999 |
Three years before current fiscal year | 7,591 | 2,478 |
Four years before current fiscal year | 1,343 | 1,879 |
Prior | 8,039 | 7,473 |
Revolving Loans Amortized Cost Basis | 106,545 | 86,966 |
Revolving Loans Converted to Term | 7,148 | 21,051 |
Total loans and leases, net of unearned income and deferred costs and fees | 170,646 | 163,016 |
Commercial real estate | Construction | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 10,828 | 14,465 |
One year before current fiscal year | 11,619 | 20,705 |
Two years before current fiscal year | 17,533 | 7,999 |
Three years before current fiscal year | 7,591 | 2,478 |
Four years before current fiscal year | 1,343 | 1,879 |
Prior | 7,391 | 6,682 |
Revolving Loans Amortized Cost Basis | 105,778 | 85,513 |
Revolving Loans Converted to Term | 7,148 | 21,051 |
Total loans and leases, net of unearned income and deferred costs and fees | 169,231 | 160,772 |
Commercial real estate | Construction | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 0 |
Two years before current fiscal year | 0 | 0 |
Three years before current fiscal year | 0 | 0 |
Four years before current fiscal year | 0 | 0 |
Prior | 0 | 467 |
Revolving Loans Amortized Cost Basis | 0 | 1,453 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 0 | 1,920 |
Commercial real estate | Construction | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 0 |
Two years before current fiscal year | 0 | 0 |
Three years before current fiscal year | 0 | 0 |
Four years before current fiscal year | 0 | 0 |
Prior | 648 | 324 |
Revolving Loans Amortized Cost Basis | 767 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | $ 1,415 | $ 324 |
Allowance for Credit Losses -_3
Allowance for Credit Losses - Credit Quality Indicators by Class of Residential Real Estate and Consumer Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases, net of unearned income and deferred costs and fees | $ 5,096,778 | $ 5,260,327 |
Residential real estate | Home equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 1,395 | 1,440 |
One year before current fiscal year | 1,246 | 2,782 |
Two years before current fiscal year | 3,173 | 1,052 |
Three years before current fiscal year | 1,719 | 2,120 |
Four years before current fiscal year | 1,728 | 916 |
Prior | 4,042 | 1,612 |
Revolving Loans Amortized Cost Basis | 167,403 | 190,861 |
Revolving Loans Converted to Term | 4,919 | 44 |
Total loans and leases, net of unearned income and deferred costs and fees | 185,625 | 200,827 |
Residential real estate | Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 233,145 | 305,476 |
One year before current fiscal year | 289,745 | 193,801 |
Two years before current fiscal year | 169,136 | 123,660 |
Three years before current fiscal year | 105,265 | 156,405 |
Four years before current fiscal year | 132,900 | 179,553 |
Prior | 325,809 | 262,861 |
Revolving Loans Amortized Cost Basis | 13,088 | 11,787 |
Revolving Loans Converted to Term | 917 | 1,617 |
Total loans and leases, net of unearned income and deferred costs and fees | 1,270,005 | 1,235,160 |
Residential real estate | Performing | Home equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 1,395 | 1,440 |
One year before current fiscal year | 1,246 | 2,764 |
Two years before current fiscal year | 3,157 | 1,052 |
Three years before current fiscal year | 1,719 | 2,120 |
Four years before current fiscal year | 1,728 | 722 |
Prior | 3,446 | 1,106 |
Revolving Loans Amortized Cost Basis | 165,588 | 188,614 |
Revolving Loans Converted to Term | 4,919 | 44 |
Total loans and leases, net of unearned income and deferred costs and fees | 183,198 | 197,862 |
Residential real estate | Performing | Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 233,145 | 305,476 |
One year before current fiscal year | 289,745 | 193,543 |
Two years before current fiscal year | 168,894 | 123,205 |
Three years before current fiscal year | 104,697 | 155,699 |
Four years before current fiscal year | 132,204 | 178,149 |
Prior | 317,803 | 255,556 |
Revolving Loans Amortized Cost Basis | 13,062 | 11,735 |
Revolving Loans Converted to Term | 917 | 1,617 |
Total loans and leases, net of unearned income and deferred costs and fees | 1,260,467 | 1,224,980 |
Residential real estate | Nonperforming | Home equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 18 |
Two years before current fiscal year | 16 | 0 |
Three years before current fiscal year | 0 | 0 |
Four years before current fiscal year | 0 | 194 |
Prior | 596 | 506 |
Revolving Loans Amortized Cost Basis | 1,815 | 2,247 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 2,427 | 2,965 |
Residential real estate | Nonperforming | Mortgages | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 258 |
Two years before current fiscal year | 242 | 455 |
Three years before current fiscal year | 568 | 706 |
Four years before current fiscal year | 696 | 1,404 |
Prior | 8,006 | 7,305 |
Revolving Loans Amortized Cost Basis | 26 | 52 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 9,538 | 10,180 |
Consumer and other | Direct | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 17,310 | 14,845 |
One year before current fiscal year | 11,574 | 11,201 |
Two years before current fiscal year | 10,227 | 8,178 |
Three years before current fiscal year | 6,025 | 6,644 |
Four years before current fiscal year | 5,191 | 2,854 |
Prior | 11,265 | 10,842 |
Revolving Loans Amortized Cost Basis | 5,102 | 6,835 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 66,694 | 61,399 |
Consumer and other | Indirect | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 1,484 | 1,424 |
One year before current fiscal year | 965 | 1,945 |
Two years before current fiscal year | 445 | 3,371 |
Three years before current fiscal year | 2,085 | 1,135 |
Four years before current fiscal year | 486 | 418 |
Prior | 130 | 108 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 5,595 | 8,401 |
Consumer and other | Performing | Direct | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 17,310 | 14,840 |
One year before current fiscal year | 11,569 | 11,127 |
Two years before current fiscal year | 10,163 | 8,011 |
Three years before current fiscal year | 5,962 | 6,632 |
Four years before current fiscal year | 5,180 | 2,854 |
Prior | 11,265 | 10,840 |
Revolving Loans Amortized Cost Basis | 5,099 | 6,835 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 66,548 | 61,139 |
Consumer and other | Performing | Indirect | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 1,484 | 1,424 |
One year before current fiscal year | 965 | 1,878 |
Two years before current fiscal year | 308 | 3,327 |
Three years before current fiscal year | 1,987 | 1,128 |
Four years before current fiscal year | 484 | 382 |
Prior | 102 | 93 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 5,330 | 8,232 |
Consumer and other | Nonperforming | Direct | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 5 |
One year before current fiscal year | 5 | 74 |
Two years before current fiscal year | 64 | 167 |
Three years before current fiscal year | 63 | 12 |
Four years before current fiscal year | 11 | 0 |
Prior | 0 | 2 |
Revolving Loans Amortized Cost Basis | 3 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | 146 | 260 |
Consumer and other | Nonperforming | Indirect | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current fiscal year | 0 | 0 |
One year before current fiscal year | 0 | 67 |
Two years before current fiscal year | 137 | 44 |
Three years before current fiscal year | 98 | 7 |
Four years before current fiscal year | 2 | 36 |
Prior | 28 | 15 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total loans and leases, net of unearned income and deferred costs and fees | $ 265 | $ 169 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Basic | ||||
Net income available to common shareholders | $ 21,342 | $ 24,230 | $ 69,799 | $ 53,610 |
Less: income attributable to unvested stock-based compensation awards | (154) | (278) | (504) | (628) |
Net earnings allocated to common shareholders | $ 21,188 | $ 23,952 | $ 69,295 | $ 52,982 |
Weighted average shares outstanding, including unvested stock-based compensation awards (in shares) | 14,724,141 | 14,920,924 | 14,840,420 | 14,929,628 |
Less: unvested stock-based compensation awards (in shares) | (229,608) | (223,392) | (232,538) | (230,181) |
Weighted average shares outstanding - Basic (in shares) | 14,494,533 | 14,697,532 | 14,607,882 | 14,699,447 |
Diluted | ||||
Net earnings allocated to common shareholders | $ 21,188 | $ 23,952 | $ 69,295 | $ 52,982 |
Weighted average shares outstanding - Basic (in shares) | 14,494,533 | 14,697,532 | 14,607,882 | 14,699,447 |
Plus: Incremental shares from assumed conversion of stock-based compensation awards (in shares) | 73,801 | 30,209 | 79,303 | 39,474 |
Weighted average shares outstanding - Diluted (in shares) | 14,568,334 | 14,727,741 | 14,687,185 | 14,738,921 |
Basic EPS (in dollars per share) | $ 1.46 | $ 1.63 | $ 4.74 | $ 3.60 |
Diluted EPS (in dollars per share) | $ 1.45 | $ 1.63 | $ 4.72 | $ 3.59 |
Earnings Per Share - Narrative
Earnings Per Share - Narrative (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share [Abstract] | ||||
Antidilutive securities excluded from computation of earning per share (in shares) | 2,032 | 10,449 | 6,113 | 10,090 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) - Schedule of Reclassifications (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Before-Tax Amount | ||||
Net unrealized gains/losses / Other comprehensive income (loss) | $ (9,552) | $ (3,728) | $ (30,490) | $ 26,098 |
Tax (Expense) Benefit | ||||
Net unrealized gains/losses / Other comprehensive income (loss) | 2,340 | 912 | 7,470 | (6,398) |
Net of Tax | ||||
Change in net unrealized gain/loss during the period | (7,852) | (3,303) | (24,609) | 18,563 |
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | 640 | 487 | 1,589 | 1,137 |
Other comprehensive (loss) income | (7,212) | (2,816) | (23,020) | 19,700 |
Net unrealized gain/loss | ||||
Before-Tax Amount | ||||
Change in net unrealized gain/loss during the period | (10,400) | (4,374) | (32,595) | 24,592 |
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | 54 | 0 | (275) | (429) |
Net unrealized gains/losses / Other comprehensive income (loss) | (10,346) | (4,374) | (32,870) | 24,163 |
Tax (Expense) Benefit | ||||
Change in net unrealized gain/loss during the period | 2,548 | 1,071 | 7,986 | (6,029) |
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | (13) | 0 | 67 | 105 |
Net unrealized gains/losses / Other comprehensive income (loss) | 2,535 | 1,071 | 8,053 | (5,924) |
Net of Tax | ||||
Change in net unrealized gain/loss during the period | (7,852) | (3,303) | (24,609) | 18,563 |
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | 41 | 0 | (208) | (324) |
Other comprehensive (loss) income | (7,811) | (3,303) | (24,817) | 18,239 |
Amortization of net retirement plan actuarial gain/loss | ||||
Before-Tax Amount | ||||
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | 738 | 593 | 2,213 | 1,775 |
Tax (Expense) Benefit | ||||
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | (181) | (146) | (542) | (435) |
Net of Tax | ||||
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | 557 | 447 | 1,671 | 1,340 |
Amortization of net retirement plan prior service cost | ||||
Before-Tax Amount | ||||
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | 56 | 53 | 167 | 160 |
Tax (Expense) Benefit | ||||
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | (14) | (13) | (41) | (39) |
Net of Tax | ||||
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | 42 | 40 | 126 | 121 |
Employee benefit plans | ||||
Before-Tax Amount | ||||
Net unrealized gains/losses / Other comprehensive income (loss) | 794 | 646 | 2,380 | 1,935 |
Tax (Expense) Benefit | ||||
Net unrealized gains/losses / Other comprehensive income (loss) | (195) | (159) | (583) | (474) |
Net of Tax | ||||
Other comprehensive (loss) income | $ 599 | $ 487 | $ 1,797 | $ 1,461 |
Other Comprehensive Income (L_4
Other Comprehensive Income (Loss) - Schedule of Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balances | $ 728,253 | $ 698,029 | $ 717,689 | $ 663,054 |
Other comprehensive (loss) income before reclassifications | (7,852) | (3,303) | (24,609) | 18,563 |
Amounts reclassified from accumulated other comprehensive (loss) income | 640 | 487 | 1,589 | 1,137 |
Other comprehensive (loss) income | (7,212) | (2,816) | (23,020) | 19,700 |
Ending balances | 722,357 | 713,611 | 722,357 | 713,611 |
Available-for- Sale Debt Securities | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balances | 3,603 | 25,581 | 20,609 | 4,039 |
Other comprehensive (loss) income before reclassifications | (7,852) | (3,303) | (24,609) | 18,563 |
Amounts reclassified from accumulated other comprehensive (loss) income | 41 | 0 | (208) | (324) |
Other comprehensive (loss) income | (7,811) | (3,303) | (24,817) | 18,239 |
Ending balances | (4,208) | 22,278 | (4,208) | 22,278 |
Employee Benefit Plans | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balances | (51,485) | (46,629) | (52,683) | (47,603) |
Other comprehensive (loss) income before reclassifications | 0 | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive (loss) income | 599 | 487 | 1,797 | 1,461 |
Other comprehensive (loss) income | 599 | 487 | 1,797 | 1,461 |
Ending balances | (50,886) | (46,142) | (50,886) | (46,142) |
Accumulated Other Comprehensive (Loss) Income | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning balances | (47,882) | (21,048) | (32,074) | (43,564) |
Other comprehensive (loss) income | (7,212) | (2,816) | (23,020) | 19,700 |
Ending balances | $ (55,094) | $ (23,864) | $ (55,094) | $ (23,864) |
Other Comprehensive Income (L_5
Other Comprehensive Income (Loss) - Schedule of Amounts Reclassified Out of Each Component (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net (loss) gain on securities transactions | $ (60) | $ (2) | $ 257 | $ 446 |
Other operating expense | (14,164) | (10,706) | (35,519) | (33,553) |
Total before tax | 28,004 | 30,592 | 89,676 | 67,490 |
Tax (expense) benefit | (6,630) | (6,330) | (19,781) | (13,779) |
Net of tax | 21,342 | 24,230 | 69,799 | 53,610 |
Amount Reclassified from Accumulated Other Comprehensive (Loss) Income | Available-for-sale securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net (loss) gain on securities transactions | (54) | 0 | 275 | |
Total before tax | 429 | |||
Tax (expense) benefit | 13 | 0 | (67) | (105) |
Net of tax | (41) | 0 | 208 | 324 |
Amount Reclassified from Accumulated Other Comprehensive (Loss) Income | Net retirement plan actuarial loss | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Other operating expense | (738) | (593) | (2,213) | (1,775) |
Amount Reclassified from Accumulated Other Comprehensive (Loss) Income | Net retirement plan prior service cost | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Other operating expense | (56) | (53) | (167) | (160) |
Amount Reclassified from Accumulated Other Comprehensive (Loss) Income | Employee benefit plans | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Total before tax | (794) | (646) | (2,380) | (1,935) |
Tax (expense) benefit | 195 | 159 | 583 | 474 |
Net of tax | $ (599) | $ (487) | $ (1,797) | $ (1,461) |
Employee Benefit Plans - Schedu
Employee Benefit Plans - Schedule of Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Pension Benefits | ||||
Components of net periodic benefit cost | ||||
Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
Interest cost | 407 | 593 | 1,221 | 1,778 |
Expected return on plan assets | (1,413) | (1,354) | (4,239) | (4,062) |
Amortization of net retirement plan actuarial loss | 390 | 353 | 1,170 | 1,058 |
Amortization of net retirement plan prior service (credit) cost | 0 | (2) | 0 | (7) |
Net periodic benefit (income) cost | (616) | (410) | (1,848) | (1,233) |
Life and Health | ||||
Components of net periodic benefit cost | ||||
Service cost | 47 | 43 | 140 | 129 |
Interest cost | 45 | 61 | 135 | 183 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of net retirement plan actuarial loss | 78 | 39 | 234 | 116 |
Amortization of net retirement plan prior service (credit) cost | (15) | (15) | (45) | (45) |
Net periodic benefit (income) cost | 155 | 128 | 464 | 383 |
SERP Benefits | ||||
Components of net periodic benefit cost | ||||
Service cost | 58 | 54 | 173 | 161 |
Interest cost | 173 | 228 | 519 | 685 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of net retirement plan actuarial loss | 270 | 200 | 810 | 600 |
Amortization of net retirement plan prior service (credit) cost | 71 | 71 | 212 | 214 |
Net periodic benefit (income) cost | $ 572 | $ 553 | $ 1,714 | $ 1,660 |
Employee Benefit Plans - Narrat
Employee Benefit Plans - Narrative (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Retirement Benefits [Abstract] | ||
Amortization of amounts previously recognized in accumulated other comprehensive income (loss) | $ 1,800,000 | $ 1,500,000 |
Contribution to pension plan | $ 0 | $ 0 |
Other Income and Operating Ex_3
Other Income and Operating Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Other Income and Expenses [Abstract] | ||||
Reporting threshold for other income and operating expenses (percent, greater than) | 1.00% | |||
Noninterest Income | ||||
Other service charges | $ 685 | $ 720 | $ 2,064 | $ 2,108 |
Earnings from corporate owned life insurance | 367 | 559 | 1,478 | 1,617 |
Net gains on the sales of loans originated for sale | 296 | 378 | 878 | 1,245 |
Other income | 421 | 161 | 988 | 1,418 |
Total other income | 1,769 | 1,818 | 5,408 | 6,388 |
Noninterest Expenses | ||||
Marketing expense | 1,171 | 927 | 2,798 | 2,806 |
Professional fees | 1,854 | 1,398 | 5,280 | 4,654 |
Legal fees | 294 | 418 | 735 | 955 |
Technology expense | 2,913 | 2,941 | 8,818 | 8,771 |
Cardholder expense | 827 | 827 | 2,489 | 2,396 |
Penalties on prepayment of FHLB borrowings | 2,929 | 0 | 2,929 | 0 |
Other expenses | 4,176 | 4,195 | 12,470 | 13,971 |
Other operating expense | $ 14,164 | $ 10,706 | $ 35,519 | $ 33,553 |
Revenue Recognition - Schedule
Revenue Recognition - Schedule of Disaggregation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | $ 19,431 | $ 17,356 | $ 54,915 | $ 49,027 |
Noninterest Income (out-of-scope of ASC 606) | 1,423 | 1,531 | 4,780 | 5,997 |
Total Noninterest Income | 20,854 | 18,887 | 59,695 | 55,024 |
Commissions and Fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 8,930 | 8,136 | 24,101 | 22,545 |
Installment Billing | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 166 | 175 | 149 | 96 |
Refund of Commissions | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | (103) | (104) | (92) | (458) |
Contract Liabilities/Deferred Revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | (237) | (208) | ||
Contingent Commissions | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 840 | 709 | 3,132 | 2,241 |
Subtotal Insurance Revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 9,833 | 8,916 | 27,053 | 24,216 |
Trust and Asset Management | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 3,522 | 3,070 | 10,222 | 8,798 |
Mutual Fund & Investment Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 1,435 | 1,222 | 4,125 | 3,616 |
Subtotal Investment Service Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 4,957 | 4,292 | 14,347 | 12,414 |
Service Charges on Deposit Accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 1,638 | 1,444 | 4,579 | 4,675 |
Card Services Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 2,717 | 2,419 | 8,051 | 6,885 |
Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | $ 286 | $ 285 | $ 885 | $ 837 |
Revenue Recognition - Narrative
Revenue Recognition - Narrative (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Contract assets related to contingent income | $ 1.9 | $ 2.5 |
Contract with customer, liability | $ 0.5 | 2 |
Performance obligation, description of timing | one year | |
Insurance | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Contract with customer, asset, net | $ 6.4 | 5.2 |
Wealth Management | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Contract with customer, asset, net | $ 2.1 | $ 2.2 |
Financial Guarantees (Details)
Financial Guarantees (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Guarantees [Abstract] | ||
Obligations to extend credit for loan commitments | $ 39.2 | $ 31.4 |
Segment and Related Informati_3
Segment and Related Information - Narrative (Details) | 9 Months Ended |
Sep. 30, 2021subsidiary_Bankbanking_Officesegmentoffice | |
Segment Reporting Information [Line Items] | |
Number of reportable segments | segment | 3 |
Nature of operations, number of subsidiary banks | subsidiary_Bank | 4 |
Tompkins, Cayuga, Cortland and Schuyler Counties, New York | |
Segment Reporting Information [Line Items] | |
Nature of operations, number of banking offices | 13 |
Wyoming, Livingston, Genessee, Orleans and Monroe, New York | |
Segment Reporting Information [Line Items] | |
Nature of operations, number of banking offices | 16 |
Putnam Country, Dutchess Country and Westchester, New York | |
Segment Reporting Information [Line Items] | |
Nature of operations, number of banking offices | 14 |
Berks, Montgomery, Philadelphia, Deleware and Schuylkill, Pennsylvania | |
Segment Reporting Information [Line Items] | |
Nature of operations, number of banking offices | 20 |
Western New York | |
Segment Reporting Information [Line Items] | |
Number of offices | office | 5 |
Tompkins Insurance Agencies Inc | |
Segment Reporting Information [Line Items] | |
Noncontrolling interest, ownership percentage by parent | 100.00% |
Segment and Related Informati_4
Segment and Related Information - Schedule of Segment and Related Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | ||||||||
Interest income | $ 61,114 | $ 64,316 | $ 180,704 | $ 190,960 | ||||
Interest expense | 5,016 | 6,063 | 14,723 | 23,372 | ||||
Net Interest Income | 56,098 | 58,253 | 165,981 | 167,588 | ||||
(Credit) provision for credit loss expense | (1,232) | (218) | (6,133) | 17,418 | ||||
Noninterest income | 20,854 | 18,887 | 59,695 | 55,024 | ||||
Noninterest expense | 50,180 | 46,766 | 142,133 | 137,704 | ||||
Income Before Income Tax Expense | 28,004 | 30,592 | 89,676 | 67,490 | ||||
Income tax expense | 6,630 | 6,330 | 19,781 | 13,779 | ||||
Net Income Attributable to Noncontrolling Interests and Tompkins Financial Corporation | 21,374 | 24,262 | 69,895 | 53,711 | ||||
Less: Net income attributable to noncontrolling interests | 32 | 32 | 96 | 101 | ||||
Net Income Attributable to Tompkins Financial Corporation | 21,342 | 24,230 | 69,799 | 53,610 | ||||
Depreciation and amortization | 2,594 | 2,549 | 7,696 | 7,654 | ||||
Assets | 8,113,110 | 7,794,502 | 8,113,110 | 7,794,502 | $ 7,622,171 | |||
Goodwill | 92,447 | 92,447 | 92,447 | 92,447 | 92,447 | |||
Other intangibles, net | 3,989 | 5,211 | 3,989 | 5,211 | 4,905 | |||
Net Loans and Leases | 5,050,519 | 5,346,004 | 5,050,519 | 5,346,004 | ||||
Deposits | 7,090,898 | 6,601,238 | 7,090,898 | 6,601,238 | 6,437,752 | |||
Total Equity | 722,357 | 713,611 | 722,357 | 713,611 | $ 728,253 | $ 717,689 | $ 698,029 | $ 663,054 |
Operating Segments | Banking | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Interest income | 61,110 | 64,316 | 180,708 | 190,960 | ||||
Interest expense | 5,020 | 6,064 | 14,737 | 23,375 | ||||
Net Interest Income | 56,090 | 58,252 | 165,971 | 167,585 | ||||
(Credit) provision for credit loss expense | (1,232) | (218) | (6,133) | 17,418 | ||||
Noninterest income | 6,416 | 5,976 | 19,175 | 19,217 | ||||
Noninterest expense | 40,587 | 37,405 | 113,792 | 110,114 | ||||
Income Before Income Tax Expense | 23,151 | 27,041 | 77,487 | 59,270 | ||||
Income tax expense | 5,351 | 5,397 | 16,595 | 11,665 | ||||
Net Income Attributable to Noncontrolling Interests and Tompkins Financial Corporation | 17,800 | 21,644 | 60,892 | 47,605 | ||||
Less: Net income attributable to noncontrolling interests | 32 | 32 | 96 | 101 | ||||
Net Income Attributable to Tompkins Financial Corporation | 17,768 | 21,612 | 60,796 | 47,504 | ||||
Depreciation and amortization | 2,528 | 2,474 | 7,493 | 7,443 | ||||
Assets | 8,051,446 | 7,738,933 | 8,051,446 | 7,738,933 | ||||
Goodwill | 64,370 | 64,585 | 64,370 | 64,585 | ||||
Other intangibles, net | 1,814 | 2,600 | 1,814 | 2,600 | ||||
Net Loans and Leases | 5,050,519 | 5,346,004 | 5,050,519 | 5,346,004 | ||||
Deposits | 7,105,651 | 6,613,421 | 7,105,651 | 6,613,421 | ||||
Total Equity | 659,365 | 657,370 | 659,365 | 657,370 | ||||
Operating Segments | Insurance | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Interest income | 8 | 1 | 10 | 3 | ||||
Interest expense | 0 | 0 | 0 | 0 | ||||
Net Interest Income | 8 | 1 | 10 | 3 | ||||
(Credit) provision for credit loss expense | 0 | 0 | 0 | 0 | ||||
Noninterest income | 9,950 | 9,023 | 27,531 | 24,533 | ||||
Noninterest expense | 6,846 | 6,559 | 20,044 | 19,479 | ||||
Income Before Income Tax Expense | 3,112 | 2,465 | 7,497 | 5,057 | ||||
Income tax expense | 855 | 670 | 2,057 | 1,362 | ||||
Net Income Attributable to Noncontrolling Interests and Tompkins Financial Corporation | 2,257 | 1,795 | 5,440 | 3,695 | ||||
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Net Income Attributable to Tompkins Financial Corporation | 2,257 | 1,795 | 5,440 | 3,695 | ||||
Depreciation and amortization | 52 | 57 | 162 | 173 | ||||
Assets | 45,855 | 42,269 | 45,855 | 42,269 | ||||
Goodwill | 19,866 | 19,866 | 19,866 | 19,866 | ||||
Other intangibles, net | 2,102 | 2,507 | 2,102 | 2,507 | ||||
Net Loans and Leases | 0 | 0 | 0 | 0 | ||||
Deposits | 0 | 0 | 0 | 0 | ||||
Total Equity | 33,529 | 32,095 | 33,529 | 32,095 | ||||
Operating Segments | Wealth Management | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Interest income | 0 | 0 | 0 | 0 | ||||
Interest expense | 0 | 0 | 0 | 0 | ||||
Net Interest Income | 0 | 0 | 0 | 0 | ||||
(Credit) provision for credit loss expense | 0 | 0 | 0 | 0 | ||||
Noninterest income | 5,047 | 4,434 | 14,638 | 12,903 | ||||
Noninterest expense | 3,306 | 3,348 | 9,946 | 9,740 | ||||
Income Before Income Tax Expense | 1,741 | 1,086 | 4,692 | 3,163 | ||||
Income tax expense | 424 | 263 | 1,129 | 752 | ||||
Net Income Attributable to Noncontrolling Interests and Tompkins Financial Corporation | 1,317 | 823 | 3,563 | 2,411 | ||||
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Net Income Attributable to Tompkins Financial Corporation | 1,317 | 823 | 3,563 | 2,411 | ||||
Depreciation and amortization | 14 | 18 | 41 | 38 | ||||
Assets | 32,257 | 26,956 | 32,257 | 26,956 | ||||
Goodwill | 8,211 | 7,996 | 8,211 | 7,996 | ||||
Other intangibles, net | 73 | 104 | 73 | 104 | ||||
Net Loans and Leases | 0 | 0 | 0 | 0 | ||||
Deposits | 0 | 0 | 0 | 0 | ||||
Total Equity | 29,463 | 24,146 | 29,463 | 24,146 | ||||
Intercompany | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Interest income | (4) | (1) | (14) | (3) | ||||
Interest expense | (4) | (1) | (14) | (3) | ||||
Net Interest Income | 0 | 0 | 0 | 0 | ||||
(Credit) provision for credit loss expense | 0 | 0 | 0 | 0 | ||||
Noninterest income | (559) | (546) | (1,649) | (1,629) | ||||
Noninterest expense | (559) | (546) | (1,649) | (1,629) | ||||
Income Before Income Tax Expense | 0 | 0 | 0 | 0 | ||||
Income tax expense | 0 | 0 | 0 | 0 | ||||
Net Income Attributable to Noncontrolling Interests and Tompkins Financial Corporation | 0 | 0 | 0 | 0 | ||||
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||
Net Income Attributable to Tompkins Financial Corporation | 0 | 0 | 0 | 0 | ||||
Depreciation and amortization | 0 | 0 | 0 | 0 | ||||
Assets | (16,448) | (13,656) | (16,448) | (13,656) | ||||
Goodwill | 0 | 0 | 0 | 0 | ||||
Other intangibles, net | 0 | 0 | 0 | 0 | ||||
Net Loans and Leases | 0 | 0 | 0 | 0 | ||||
Deposits | (14,753) | (12,183) | (14,753) | (12,183) | ||||
Total Equity | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities, at fair value | $ 910 | $ 929 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 2,066,927 | 1,627,193 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | U.S. Treasuries | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | |
Recurring | U.S. Treasuries | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 138,928 | |
Recurring | U.S. Treasuries | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | |
Recurring | Obligations of U.S. Government sponsored entities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | Obligations of U.S. Government sponsored entities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 810,343 | 607,480 |
Recurring | Obligations of U.S. Government sponsored entities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | Obligations of U.S. states and political subdivisions | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | Obligations of U.S. states and political subdivisions | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 109,911 | 129,746 |
Recurring | Obligations of U.S. states and political subdivisions | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | U.S. Government agencies | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | U.S. Government agencies | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 89,320 | 182,108 |
Recurring | U.S. Government agencies | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | U.S. Government sponsored entities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | U.S. Government sponsored entities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 916,004 | 705,480 |
Recurring | U.S. Government sponsored entities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | U.S. corporate debt securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | U.S. corporate debt securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 2,421 | 2,379 |
Recurring | U.S. corporate debt securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Recurring | Equity securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities, at fair value | 0 | 0 |
Recurring | Equity securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities, at fair value | 0 | 0 |
Recurring | Equity securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities, at fair value | 910 | 929 |
Recurring | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 2,066,927 | 1,627,193 |
Recurring | Fair Value | U.S. Treasuries | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 138,928 | |
Recurring | Fair Value | Obligations of U.S. Government sponsored entities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 810,343 | 607,480 |
Recurring | Fair Value | Obligations of U.S. states and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 109,911 | 129,746 |
Recurring | Fair Value | U.S. Government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 89,320 | 182,108 |
Recurring | Fair Value | U.S. Government sponsored entities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 916,004 | 705,480 |
Recurring | Fair Value | U.S. corporate debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 2,421 | 2,379 |
Recurring | Fair Value | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities, at fair value | $ 910 | $ 929 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Details) - Non-Recurring - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Individually evaluated | $ 1,122 | $ 6,330 | $ 30,848 | $ 10,759 |
Gain (losses) from fair value changes on impaired loans | (150) | 0 | (150) | (1,305) |
Other real estate owned | 46 | 36 | 46 | 124 |
Gain (losses) from fair value changes on other real estate owned | 0 | (4) | (8) | (27) |
Quoted prices in active markets for identical assets (Level 1) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Individually evaluated | 0 | 0 | 0 | 0 |
Other real estate owned | 0 | 0 | 0 | 0 |
Significant other observable inputs (Level 2) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Individually evaluated | 0 | 6,330 | 0 | 10,759 |
Other real estate owned | 46 | 36 | 46 | 124 |
Significant unobservable inputs (Level 3) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Individually evaluated | 1,122 | 0 | 30,848 | 0 |
Other real estate owned | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) | Sep. 30, 2021 |
Minimum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Selling and closing costs as percentage of appraised value | 5.00% |
Maximum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Selling and closing costs as percentage of appraised value | 8.00% |
Fair Value Measurements - Sch_2
Fair Value Measurements - Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financial Assets: | ||
Securities - held-to-maturity | $ 268,283 | $ 0 |
FHLB and other stock | 10,366 | 16,382 |
Financial Liabilities: | ||
Time deposits | 675,499 | 746,234 |
under agreements to repurchase | 72,490 | 65,845 |
Other borrowings | 110,000 | 265,000 |
Trust preferred debentures | 0 | 13,220 |
Level 1 | ||
Financial Assets: | ||
Cash and cash equivalents | 333,487 | 388,462 |
Securities - held-to-maturity | 0 | |
FHLB and other stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Loans/leases, net | 0 | 0 |
Financial Liabilities: | ||
Time deposits | 0 | 0 |
Other deposits | 0 | 0 |
under agreements to repurchase | 0 | 0 |
Other borrowings | 0 | 0 |
Trust preferred debentures | 0 | 0 |
Accrued interest payable | 0 | 0 |
Level 2 | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Securities - held-to-maturity | 268,283 | |
FHLB and other stock | 10,366 | 16,382 |
Accrued interest receivable | 23,350 | 32,025 |
Loans/leases, net | 0 | 22,171 |
Financial Liabilities: | ||
Time deposits | 679,335 | 753,045 |
Other deposits | 6,415,399 | 5,691,518 |
under agreements to repurchase | 72,490 | 65,845 |
Other borrowings | 112,573 | 274,238 |
Trust preferred debentures | 0 | 18,483 |
Accrued interest payable | 900 | 1,727 |
Level 3 | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Securities - held-to-maturity | 0 | |
FHLB and other stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Loans/leases, net | 5,072,855 | 5,204,130 |
Financial Liabilities: | ||
Time deposits | 0 | 0 |
Other deposits | 0 | 0 |
under agreements to repurchase | 0 | 0 |
Other borrowings | 0 | 0 |
Trust preferred debentures | 0 | 0 |
Accrued interest payable | 0 | 0 |
Carrying Amount | ||
Financial Assets: | ||
Cash and cash equivalents | 333,487 | 388,462 |
Securities - held-to-maturity | 269,268 | |
FHLB and other stock | 10,366 | 16,382 |
Accrued interest receivable | 23,350 | 32,025 |
Loans/leases, net | 5,050,519 | 5,208,658 |
Financial Liabilities: | ||
Time deposits | 675,499 | 746,234 |
Other deposits | 6,415,399 | 5,691,518 |
under agreements to repurchase | 72,490 | 65,845 |
Other borrowings | 110,000 | 265,000 |
Trust preferred debentures | 0 | 13,220 |
Accrued interest payable | 900 | 1,727 |
Fair Value | ||
Financial Assets: | ||
Cash and cash equivalents | 333,487 | 388,462 |
Securities - held-to-maturity | 268,283 | |
FHLB and other stock | 10,366 | 16,382 |
Accrued interest receivable | 23,350 | 32,025 |
Loans/leases, net | 5,072,855 | 5,226,301 |
Financial Liabilities: | ||
Time deposits | 679,335 | 753,045 |
Other deposits | 6,415,399 | 5,691,518 |
under agreements to repurchase | 72,490 | 65,845 |
Other borrowings | 112,573 | 274,238 |
Trust preferred debentures | 0 | 18,483 |
Accrued interest payable | $ 900 | $ 1,727 |
Uncategorized Items - tmp-20210
Label | Element | Value |
Accounting Standards Update [Extensible Enumeration] | us-gaap_AccountingStandardsUpdateExtensibleList | Accounting Standards Update 2016-13 [Member] |